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HomeMy WebLinkAbout11 MAY 1997 Veronica Abarca AGENDA INVESTMENT & FINANCE COMMITTEE WEDNESDAY, MAY21, 1997 -- 11:00A.M. NORTH WING CONFERENCE ROOM ****************************************************************************** CALL TO ORDER II. ROLL CALL III. APPROVAL OF MINUTES Rec: Approve the Minutes of April 9, 1997, as submitted. Action: IV. ORAL COMMUNICATIONS A. Any person wishing to discuss any item not otherwise on the agenda may address the Investment& Finance Committee at this point by giving his or her name and address for the record. Remarks shall be limited to a maximum of five minutes unless additional time is authorized by the Chairman. B. This is the time and place for any person who wishes to comment on non- hearing agenda items. It should be noted that at the Investment&Finance Committee's discretion, these comments may be deferred until such time on the agenda, as the item is discussed. Remarks shall be limited to a maximum of five minutes unless additional time is authorized by the Chairman. V. OLD BUSINESS A. Status of Public and Private Partnerships Background Checks for Section 4 Rec: Report by Carlos Ortega. Action: B. Alden Capital- Kinsel. O'neal. Newcomb & De Dios Markets Rec: Report by Carlos Ortega regarding options for refunding issues. Action: AGENDA- INVESTMENT & FINANCE COMMITTEE MAY 21, 1997 ****************************************************************************** VI. NEW BUSINESS A. City and Redevelopment Agency Investment Schedule Rec: Review and submit to the next City Council agenda. Review the presentation on the investment graphs. Review the investment activity during the month of January. Review status of capital projects and cash flow projections. Action: B. Review Short Term Investments Maturing iti11997 Rec: Review investments in 1) collateralized deposits; 2) treasury bonds and notes; and, 3) Agencies discount notes. Action: C. State of California Local Agency Investment Fund Monthly Report Rec: Informational item for the Committee to review. No action required. D. Monthly Financial Report for City Council Rec: Report and submit to City Council. Action: E. Parkview Professio O nal tficeuil Bdings-Financial Reports Rec: Review of 3/31/97 financial statements. Action: AGENDA- INVESTMENT & FINANCE COMMITTEE MAY 21, 1997 ****************************************************************************** F. Audit Services Rec: The Audit Committee interviewed three prime candidates and selected Oscar G. Armijo, CPA/Diehl, Evans & Co. A joint venture to conduct the annual audit for FY 1997/1996. City Council approved the selection at the May 8, 1997 meeting. Action: G. Assessment District Formation Request Rec: Review request by Century Homes. Action: H. McCallum Theatre Financial Statements Rec: Review of 3/31/97 financial statements. Action: I. Desert Willow Golf Resort Financial Information for Rec: Review and submit to City Council. Action: VII. REPORTS AND REMARKS A. Reports and Remarks by any Committee Member B. Items to be placed on the Next Agenda VIII. NEXT MEETING DATE Next regularly scheduled meeting is 9i7)f o RE, eft f R.g®® Eat. IX. ADJOURNMENT ....... 't Minutes s ba► r_ . /,(pry tit Finance Committee CONVENE On April 9, 1997, the Investment & Finance Committee was called to order at 11:05 a.m. by Mr. Gibson. ROLL CALL Jean Benson, Dave Erwin, Murray Magloff, Bill Veazie, Paul Gibson, Jean Ruth, Richard Kelly, John Wohlmuth, Dennis Coleman, Agnes Flor, Veronica Abarca. APPROVAL OF MINUTES Upon motion by Mr. Magloff and seconded by Mr. Erwin, Minutes of the March 19, 1997 meeting were APPROVED as submitted. The motion was carried unanimously. ORAL COMMUNICATION Agnes Flor present to discuss an item from finance. OLD BUSINESS Mr. Coleman requested that Alden Capital - Kinsel, O'neal, Newcomb & De Dios Markets be taken out of order so that he could make another appointment previously scheduled. B. Alden Capital - Kinsel. O'neal. Newcomb & De Dios Markets Mr. Coleman reported that the Financing Authority would be reviewing staffs request to adopt a Resolution of Intent per the Finance Committee. This resolution would establish staffs decision to hire three investment banking firms to accomplish the proposed refunding of the 1997 tax allocation bonds. The resolution of intent does not bind the authority to follow through with refunding, however it does enable them to forecast the probability of lowering the maximum annual debt service by smoothing out and restructuring the principal payments with.the new funding. It also will allow the authority to level the maximum annual debt service from $9.7 million to $8.6 million. This action will result in approximately $3.2 million in future value savings with about $740,000 of present value savings. In addition it will increase the coverage of increment to debt service to 117% from 104%. The significance is that the Minutes Finance Committee 1995 escrow bonds and property tax appeals, the City has not achieved the necessary coverage of 115. The proposed bond issue will help the City meet that requirement. Staff is requesting a Resolution of Intent to proceed further without future obligation. Staff would like to concurrently work with the agency counsel as he work with the Western Center and persons involved in the stipulation for Low to Moderate Income Housing, so there would be an eight year period to return to the market and be prepared prior to a negotiation has been met with the stipulation. The stipulation implies that the City has only 661 of 1,100 units requested, however the City feels they have met the required number. On a motion by Mr. Veazie, seconded by Mr. Erwin, the committee voted to approve a Resolution of Intention allowing the Palm Desert Financing Authority to act in the refunding of issues if the markets present themselves favorably.(The motion was carried unanimously.) A. Status of Public and Private Partnerships Background Checks for Section 4 Mr. Wohlmuth stated that a copy of the background checks questionnaires were provided to potential hotels and property purchasers, and have yet to receive them back. They are attempting to accomplish this in advance rather than during the negotiations portion. C. Request for Proposals - Banking Services Mr. Gibson stated that he and Ms. Ruth had interviewed various banking agencies and recommended the following: Banking Services - Union Bank, for various reasons including a nightly sweep account which would allow funds left over in the general account each night be transferred automatically to a high yield U.S. Treasury Money Market Account. Mr. Kelly questioned why Union was able to give the City such a high yield and not any of the other banking 2 Minutes Finance Committee facilities. Mr. Gibson stated that there were two reasons, 1) calculation of services (B of A would charge for individual services vs. U. S. Treasury Money Market which is standard account.) B of A did not have a sweep account ;2) Cost of Services which Union was at approximate $876/month B of A was a little over $1,000/month. Union also would allow the City to add a feature called "Positive Pay" which would enable the City to protect themselves against fraudulent checks, which is a billion dollar industry. The City would give a report to Union daily and allow payment of checks (no question). The City will also be permitted to add Direct Deposit service for payroll. This service would allow employees banking at various banks have their checks deposited directly into their accounts, rather than driving down to their bank and wasting valuable time. The City will also have access over the PC to balances and wire transfers daily, not to mention an image shown on the PC to review various deposits, etc. The services are currently being paid through the amount being kept on account at the bank. Mr. Gibson suggests that a flat rate for each service be charge to account so that dollars available could be transferred to a higher yielding account. Mr. Gibson then informed the committee that staff is content with the current level of performance by First Trust California and recommend that the City stay with them for Trustee Services. First Trust has agreed to lower the charge for sweep accounts for the City. Mr. Gibson recommended that Custody Services be given to Union bank who are not only at a lower cost ($2,500/yr) including the RDA, which is at a current cost of$10,000/yr at Bank of New York. Not to mention, Union can download to the Sympro Software that is used by the City, which the current bank, Bank of New York, does not have the capabilities to do so. Dave Erwin, City Attorney has reviewed the risk of utilizing the same facility for broker/dealer and custody services, and has given his approval along with a letter of Insurance from Union Bank. On a motion by Mr. Erwin, seconded by Mr. Veazie the Committee approved the recommendations by staff to hire Union Bank for Banking and Custody Services, and 3 Minutes Finance Committee First Trust California for Trustee Services for the City. (Motion was carried unanimously). NEW BUSINESS A. City and Redevelopment Agency Investment Schedule Ms. Ruth informed the Committee that both RDA and the City, the chart indicates an unrealized loss, that being a result of interest rates rising which made everything the City is holding of lesser value (market value to book value). So long as the City does not sell prior to maturity, the decrease is not a problem. Mr. Gibson stated that the bulk of the difference was market value to book value on Indian Ridge Assessment District Bonds. Receive and file Report. B. Review Short Term Investments Maturing in April 1997 There is only one investment maturing in March that is not tied to a bond issue, the two million dollar treasury. Ms. Ruth stated that because of market conditions, we will have to wait until we are closer to the maturity date to decide how to invest the funds. Mr. Veazie suggested that staff include the wording of "unrealized" in the reports when something similar occurs. Ms. Ruth stated that all Investment will remain short term until Green Span makes predictions. Receive and file Report. C. State of California Local Agency Investment Fund Monthly Report Mr. Gibson noted that the report is enclosed in Committee's agenda package. He asked if there were any questions regarding the report. There was none. Receive and file report. 4 Minutes Finance Committee D. Monthly Financial Report for City Council Mr. Gibson stated that the reason for the decrease in tax dollars in the RDA Financial Report, is due to tax breaks. Mr. Kelly suggested that a line stating the Total Year to Date percentage revenues be listed. Mr. Gibson stated that he would comply with his request. Receive and file Report E. Parkview Professional Office Buildings -2128197 Financial Reports Mr. Gibson reminded the Committee that Office Buildings were transferred to the City in February of 1997, all cash on hand was transferred to the RDA, the City was precluded to transfer fund due to various Redevelopment laws. This transfer would explain the low cash balances. Mr. Veazie recognized that the City's revenues exceeded the expenditures at the office buildings. Mr. Gibson stated that one of the leasers would be receiving a reduction in their lease due to a stipulation in their lease when drawn up. Mr. Wohlmuth questioned the percentage of government entities vs. private industry located at the office buildings. Mr. Gibson stated that there were currently approximately 80 to 85% government agencies located at the office buildings. Mr. Gibson reminded the Committee that at the last meeting, it was requested that the current manager be allowed to also market the office buildings, which are currently not being marketed due to the upcoming renewal of leases. A letter has been forwarded to the Board of Realtors for their "blessing" and will have further information regarding this at the upcoming meeting. Receive and file Report. 5 Minutes Finance Committee F. Audit Services Mr. Gibson stated that the RFP's for Auditing Services were due Monday, April 14. The RFP's are to be reviewed by the Audit Committee, which includes, Ray Diaz, Richard Kelly, Paul Gibson, Agnes Flor, and Carlos Ortega, the following week and interviews are to be conducted on April 25. Ten agencies were sent RFP's for Auditing Services. G. Assessment District Formation Ms. Flor, Finance Operations Manager, informed the Committee that Century Homes has asked to form an assessment district on the Sonata. Ms. Flor stated that staff had two issues to review with the Committee regarding the assessment districts. A format has been created in order to implement assessment districts more readily. The Policy was taken from the City of La Quinta who have successfully implemented it into their formation process. The policy allows the key players to be involved with the process throughout the duration of the assessment district formation. Staffs intentions are that once the policy is approved, the assessment districts will have a guide to implement in the future. Mr. Kelly interrupted Ms. Flor to say that he needed to leave and questioned what would happen in the future in relation to Proposition 218. Mr. Gibson answered to say that the compliance would be met prior to the formation of the district. Mr. Wohlmuth followed Mr. Kelly's question to ask if there was a possibility in the future that the vote enacted by the developer could be overruled by the owners of the property. Mr. Gibson replied that once voted in, it could not be removed. Ms. Flor asked that the Committee give some feedback at the upcoming meeting regarding the policy, application format and included the threshold of financing dollars which the City would allow for assessment districts. 6 Minutes Finance Committee Mr. Kelly asked that the rest of Council receive theirs, prior to his reviewing the packet. Mr. Erwin stated that he believed there was a policy already in place and would like to research that avenue prior to reviewing the present format. Mr. Gibson stated that avenue was already exhausted, and City Clerk did not find any such policy as to assessment districts. Mr. Kelly exited the meeting at 12:03 p.m. Mr. Veazie asked if there would be any cost to the City. Ms. Flor responded no, all costs would be by absorbed by the developer. Receive and file Report. i McCallum Theatre Financial Statements Mr. Gibson informed the committee the financial statements for the McCallum Theatre for February 28, 1997 were in the packet. Receive and file Report. I. Desert Willow Golf Resort Financial Information for February. Mr. Gibson noted that the financial statements for Desert Willows for February 28, 1997 were included in the packet. Noting that during the summer months revenues will go down and expenditures will increase. Receive and file Report. NEXT MEETING DATE The next Investment & Finance Committee meeting will be held Wednesday, May 21, 1997 at 11:00 a.m. ADJOURNMENT The Investment & Finance Committee adjourned at 12:13 p.m. on a motion by Mr. Erwin and seconded by Mr. Gibson. 7 Minutes Finance Committee Respectfully submitted, VERONICA ABARCA RECORDING SECRETARY • City of Palm Desert Month-end Investment Report April 30, 1997 TABLE OF CONTENTS INVESTMENT INFORMATION FOR ENTIRE PORTFOLIO Portfolio Master Summary 1 Investment Portfolio Detail - Investments 2 Investment Portfolio Detail - Cash 4 Portfolio Master Investment Activity by Type 5 Investment Activity Summary 8 Distribution of investments by Type 9 Interest Earnings Summary 10 Investment Portfolio Compliance Checklist 34 INVESTMENT INFORMATION BY FUND/BOND Assesssment District 83-1 11 1995 Refunding Bond 84-1-R 13 Assessment District 87-1 15 Indian Ridge 91-1 Series A 17 Indian Ridge 91-1 Series B 19 Sierra Nova 92-1 21 Big Horn 94-1 23 SunterraCe 94-2 25 Merrano 94-3 27 95 Refunding Bond 83.1, 84.1-R, 87.1 29 City General Fund 31 City Loan to RDA 33 05/14/1997 - - - - City of Palm Desert PM - 1 PORTFOLIO MASTER SUMMARY CITY APRIL 30, 1997 ACCRUAL AVERAGE ---YIELD TO MATURITY--- PERCENT OF AVERAGE DAYS 20 360 365 INVESTTMENTS BOOR VALUE PORTFOLIO TERM MATURITY EQUIVALENT EQUIVALENT Fidelity Treasury Po01 $ 4,672,146.00 5.92 1 1 6.396 6.485 Local Agency Investment Funds $ 16,052,483.26 20.34 1 1 5.484 5.560 Federal Agency Issues - Coupon $ 15,030,398.60 19.05 1,124 901 6.169 6.255 Treasury Securities - Coupon $ 24,156,345.48 30.61 755 441 5.978 6.061 City Loan to RDA $ 19,000,000.00 24.08 2,192 1,522 5.462 5.538 TOTAL INVE8'DMENTS and AVERAGES $ 78,911,373.34 100.00% 973 673 5.814% 5.895% CASE Passbook/Checking - No Yield Totals $ 3,447,353.87 0.575 0.583 (not included in yield calculations) Accrued Interest at Purchase $ 16,103.34 TOTAL CASH and PURCHASE INTEREST $ 3,463,457.21 TOTAL.CASH and INVESTMENTS..... S_. 82,374,830.55 MONTH ENDING FISCAL TOTAL EARNINGS APRIL 30 YEAR TO DATE Current Year $ 404,941.89 $ 3,973,237.73 AVERAGE DAILY BALANCE $ 84,203,788.40 $ 82,844,013.92 EFFECTIVE RATE OF RETURN 5.85% 5.76% The investment portfolio of the City of Palm Desert complies with its Investment Paul S. Gibson Policy and the California Government Code sections pertaining to the investment Treasurer of local agency funds. Pending any future actions by the City Council or any unforeseen catastrophy the city has an adequate cash flaw to set its expenditure requirements for the next six months. The month-end market values DATE were obtained from First Trust end IDC Datafeed pricing service. 1 05/14/1997 City of Palm Desert PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOON VALUE PACE VALUE MARRET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12004 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 12005 Fidelity Institutional Cash 51.00 51.00 51.00 5.220 5.148 5.220 1 12006 R Fidelity Institutional Cash 238,860.00 238,860.00 238,860.00 5.220 5.148 5.220 1 12007 Fidelity Institutional Cash 11,220.00 11,220.00 11,220.00 " • •x,**• ♦R,"R• 1 12009 I Fidelity Institutional Cash 34,555.00 24,553.00 34,555.00 5.220 5.148 5.220 1 12010 R Fidelity Institutional Cash 129,193.00 129,193.00 129,193.00 5.220 5.148 5.220 1 12011 Fidelity Institutional Cash 0.00 0.00 0.00 5.140 5.070 5.140 1 12012 I Fidelity Institutional Cash 394,898.00 394,898.00 394,898.00 5.220 5.148 5.220 1 12013 A Fidelity Institutional Cash 128,949.00 128,949.00 128,949.00 5.220 5.148 5.220 1 12015 Fidelity Institutional Cash 290.00 290.00 290.00 5.220 5.148 5.220 1 12016 I Fidelity Institutional Cash 718,303.00 718,303.00 718,303.00 5.220 5.148 5.220 1 12018 R Fidelity Institutional Cash 708,416.00 708,416.00 708,416.00 5.220 5.148 5.220 1 12019 Fidelity Institutional Cash 24,120.00 24,120.00 24,120.00 5.220 5.148 5.220 1 12020 I Fidelity Institutional Cash 7,084.00 7,084.00 7,084.00 5.220 5.148 5.220 1 12021 Fidelity Institutional Cash 19.00 19.00 19.00 5.220 5.148 5.220 1 12022 R Fidelity Institutional Cash 3,925.00 3,925.00 3,925.00 5.220 5.148 5.220 1 12023 Fidelity Institutional Cash _ 21,931.00 21,931.00 21,931.00 5.220 5.148 5.220 1 12024 Fidelity Institutional Cash 4.00 4.00 4.00 5.210 5.139 5.210 1 12025 R Fidelity Institutional Cash 458,672.00 458,672.00 458,672.00 5.220 5.148 5.220 1 12027 R Fidelity Institutional Cash 62,007.00 62,007.00 62,007.00 5.220 5.148 5.220 1 12028 R Fidelity Institutional Cash 157,751.00 157,751.00 157,751.00 5.220 5.148 5.220 1 12031 Fidelity Institutional Cash 45.00 45.00 45.00 5.220 5.148 5.220 1 12032 Fidelity Institutional Cash 57.00 57.00 57.00 5.220 5.148 5.220 1 12033 Fidelity Institutional Cash 0.00 0.00 0.00 5.210 5.139 5.210 1 12034 Fidelity Institutional Cash 8.00 8.00 8.00 5.220 5.148 5.220 1 12035 Fidelity Institutional Cash 109.00 109.00 109.00 5.220 5.148 5.220 1 12036 Fidelity Institutional Cash 39.00 39.00 39.00 5.220 5.148 5.220 1 12037 Fidelity Institutional Cash 29.00 29.00 29.00 5.220 5.148 5.220 1 12039 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 12042 I Fidelity Institutional Cash 1,244,824.00 1,244,824.00 1,244,824.00 5.220 5.148 5.220 1 12043 Fidelity Institutional Cash 81,812.00 81,812.00 81,812.00 5.220 5.148 5.220 1 12043 R Fidelity Institutional Cash 163,786.00 153,786.00 163,786.00 5.210 5.139 5.210 1 12044 Fidelity Institutional Cash 0.00 0.00 0.00 5.150 5.079 5.150 1 12045 Fidelity Institutional Cash 185.00 185.00 185.00 5.220 5.148 5.220 1 12046 Fidelity Institutional Cash 31,317.00 31,317.00 31,317.00 5.220 5.148 5.220 1 12049 Fidelity Institutional Cash 49,687.00 49,687.00 49,687.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 4,603,796.13 4,672,146.00 4,672,146.00 4,672,146.00 6.396 6.485 1 MANAGED POOL ACCOUNTS 12040 Pacific Horizon Treasury Fu 0.00 0.00 0.00 4.900 4.833 4.900 1 12041 Pacific Horizon Treasury Fu 0.00 0.00 0.00 4.800 4.734 4.800 1 SUBTOTALS and AVERAGES 0.00 0.00 0.00 0.00 0.000 0.000 0 2 l 05/14/1997 City of Palm Desert PM - 3 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YIN --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOM VALUE FACE VALUE RAREST VALUE RATE 360 365 DATE TO MAT LOCAL AGENCY INVESTMENT FUNDS 12000 Local Agency Investment Pun 16,052,483.26 16,052,483.26 16,052,483.26 5.560 5.484 5.560 1 AVERAGES 15,917,716.12 FEDERAL AGENCY ISSUES - COUPON 14010 Federal Farm Credit Bank 02/25/97 2,001,111.11 2,000,000.00 1,990,625.00 6.510 6.473 6.563 02/07/00 1,012 14005 I Federal Home Loan Bank 12/12/95 1,019,044.31 1,000,000.00 985,937.50 6.285 5.608 5.686 07/28/00 1,184 14007 Federal Home Loan Bank 10/24/96 3,988,853.02 4,000,000.00 3,962,500.00 5.820 6.019 6.102 11/02/98 550 14011 Federal Home Loan Bank 03/26/97 1,800,000.00 1,800,000.00 1,797,642.00 6.310 6.310 6.398 03/26/99 694 14008 R FED HOME LOAN MORTGAGE CORP 01/09/97 498,923.61 500,000.00 493,750.00 6.855 6.930 7.026 01/09/02 1,714 14009 FED HOME LOAN MORTGAGE CORP 01/09/97 1,997,638.89 2,000,000.00 1,975,000.00 6.855 6.930 7.026 01/09/02 1,714 14001 I Federal National Mortgage A 12/12/95 1,001,146.06 1,000,000.00 1,000,000.00 5.650 5.386 5.461 10/20/97 172 14002 I Federal National Mortgage A 12/12/95 1,056,430.80 1,000,000.00 1,036,437.50 8.450 5.877 5.958 07/12/99 802 14004 I Federal National Mortgage A 12/12/95 1,088,363.29 1,000,000.00 1,063,125.00 9.050 5.620 5.699 04/10/00 1,075 14012 Federal National Mortgage A 03/21/97 578,887.51 580,000.00 579,246.00 6.240 6.350 6.438 03/19/99 687 SUBTOTALS and AVERAGES 15,032,256.75 15,030,398.60 14,886,263.00 _.. 14,880,000.00 6.169 6.255 901 TREASURY SECURITIES - COUPON 16005 United States Treasury 12/12/95 291,618.32 291,000.00 291,090.94 6.000 5.246 5.319 08/31/97 122 16006 R United States Treasury 12/12/95 467,208.30 484,000.00 481,126.25 5.875 5.241 5.314 08/15/98 471 16007 I United States Treasury 12/12/95 1,023,050.45 1,000,000.00 995,937.50 6.375 5.338 5.413 01/15/00 989 16008 R United States Treasury 12/12/95 469,169.52 445,000.00 459,184.38 8.000 5.279 5.352 08/15/99 836 16009 I United States Treasury 12/12/95 1,022,960.53 1,000,000.00 1,017,187.50 7.875 5.212 5.284 04/15/98 349 16010 I United States Treasury 12/12/95 1,023,704.24 1,000,000.00 1,011,250.00 7.125 5.272 5.345 10/15/98 532 16034 United States Treasury 05/31/96 1,998,993.56 2,000,000.00 1,994,375.00 6.000 5.967 6.050 05/31/98 395 16035 United States Treasury 05/31/96 1,982,838.19 2,000,000.00 1,981,250.00 5.125 6.041 6.125 03/31/98 334 16036 United States Treasury 06/26/96 2,983,299.88 3,000,000.00 2,982,187.50 5.875 6.252 6.33E 08/15/98 471 16037 United States Treasury 06/26/96 2,944,560.14 3,000,000.00 2,941,875.00 5.125 6.314 6.402 11/30/98 578 16038 United States Treasury 06/26/96 1,991,584.05 2,000,000.00 1,992,500.00 5.375 6.052 6.136 11/30/97 213 16039 United States Treasury 06/26/96 1,999,734.63 2,000,000.00 2,000,625.00 6.000 5.950 6.033 00/31/97 122 16042 United States Treasury 09/13/96 1,983,833.84 2,000,000.00 1,982,500.00 5.125 6.068 6.152 02/28/98 303 16045 United States Treasury 09/05/96 1,994,227.37 2,000,000.00 1,995,000.00 6.125 6.270 6.358 08/31/98 487 16046 United States Treasury 03/21/97 1,959,562.46 2,000,000.00 1,950,000.00 5.000 6.124 6.209 02/15/99 655 SUBTOTALS and AVERAGES 26,087,667.16 24,156,345.4E 24,076,089.07 24,220,000.00 5.978 6.061 441 CITY LOAN TO RDA 12001 Redevelopment Agency-Loan 07/01/95 19,000,000.00 19,000,000.00 19,000,000.00 5.538 5.462 5.538 07/01/01 1,522 AVERAGES 19,000,000.00 TOTAL INVESTMENTS and AVG. $ 78,911,373.34 78,686,981.33 80,641,438.16 78,824,629.26 5.814% 5.895% 673 3 05/14/1997 City of Palm Desert PM - 4 INVESTREET PORIPOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOGS VALUE PACE VALUE MARElT VALUE RATE 360 365 DATE TO MAT PASSBOOK/CHECEING ACCOUNTS 13000 Bank Of Maria - Checking 2,442,046.85 0.000 0.000 0.000 13002 Bank of America - Savings 1,005,288.92 2.000 1.973 2.000 SUBTOTALS and AVERAGES 3,562,350.24 3,447,353.87 0.575 0.583 Accrued Interest at Purchase 16,103.34 TOTAL CASH $ 3,463,457.21 TOTAL CASH and INVESTMENTS $ 84,203,788.40 82,374,830.55 4 r 05/14/1997 City of Palm Desert PM - 5 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY APRIL 1, 1997 - APRIL 30, 1997 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT 4 ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE FIDELITY TREASURY POOL (Monthly Summary) 12004 Fidelity Institutional Cash 5.220 12005 Fidelity Institutional Cash 5.220 1.00 12006 R Fidelity Institutional Cash 5.220 974.0C 12007 Fidelity Institutional Cash 532.200 102.00 12009 I Fidelity Institutional Cash 5.220 145.00 12010 R Fidelity Institutional Cash 5.220 543.00 12011 Fidelity Institutional Cash 5.140 12012 I Fidelity Institutional Cash 5.220 1,609.00 12013 R Fidelity Institutional Cash 5.220 525.00 12015 Fidelity Institutional Cash 5.220 414,012.00 12016 I Fidelity Institutional Cash 5.220 2,927.00 12018 R Fidelity Institutional Cash 5.220 2,887.00 12019 Fidelity Institutional Cash 5.220 273.00 12020 I Fidelity Institutional Cash 5.220 28.00 12021 Fidelity Institutional Cash 5.220 9.00 12022 R - Fidelity Institutional Cash- . 5.220 2,456.00 12023 Fidelity Institutional Cash 5.220 89.00 12024 Fidelity Institutional Cash 5.210 12025 A Fidelity Institutional Cash 5.220 1,869.00 12027 R Fidelity Institutional Cash 5.220 261.00 12028 A Fidelity Institutional Cash 5.220 643.00 12031 Fidelity Institutional Cash 5.220 4.00 12032 Fidelity Institutional Cash 5.220 29.00 12033 Fidelity Institutional Cash 5.210 12034 Fidelity Institutional Cash 5.220 8.00 12035 Fidelity Institutional Cash 5.220 63.00 12036 Fidelity Institutional Cash 5.220 22.00 12037 Fidelity Institutional Cash 5.220 15.00 12039 Fidelity Institutional Cash 5.220 12042 I Fidelity Institutional Cash 5.220 154,838.00 12043 Fidelity Institutional Cash 5.220 39,227.00 415,788.00 12043 R Fidelity Institutional Cash 5.210 827.00 39,227.00 12044 Fidelity Institutional Cash 5.150 12045 Fidelity Institutional Cash 5.220 1.00 12046 Fidelity Institutional Cash 5.220 127.00 12049 Fidelity Institutional Cash 5.220 209.00 SUBTOTALS and ENDING BALANCE 210,711.00 869,027.00 4,672,146.00 5 F 05/14/1997 City of Palm Desert PM - 6 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY APRIL 1, 1997 - APRIL 30, 1997 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT 4 ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE MANAGED POOL ACCOUNTS (Monthly Summary) 12040 Pacific Horizon Treasury Fund 4.900 12041 Pacific Horizon Treasury Fund 4.800 SUBTOTALS and ENDING BALANCE 0.00 0.00 0.00 LOCAL AGENCY INVESTMENT FUNDS (Monthly Summary) 12000 Local Agency Investment Fund 5.560 202,147.71 16,052,483.26 PASSBOOK/CHECKING ACCOUNTS (Monthly Summary) 13000 Bank of America - Checking 0.000 13002 Bank of America - Savings 2.000 - 1,700,000.00 1,350,000.00 SUBTOTALS and ENDING BALANCE 1,700,000.00 1,350,000.00 0.00 CASH WITS TRUSTEE -FIRST TRUST (Monthly Summary) 24001 Cash with Trustee 0.000 24002 Cash with Trustee 0.000 0.40 24003 Cash with Trustee 0.000 0.29 24004 Cash with Trustee 0.000 0.93 24005 Cash with Trustee 0.000 1.35 24006 Cash with Trustee 0.000 0.25 24007 Cash with Trustee 0.000 1.61 24008 Cash with Trustee 0.000 0.75 24009 Cash with Trustee 0.001 1.08 24010 Cash with Trustee 0.000 0.10 SUBTOTALS and ENDING BALANCE 5.26 1.50 0.00 FEDERAL AGENCY ISSUES - COUPON 15,030,398.60 TREASURY SECURITIES - COUPON 16043 United States Treasury 6.500 04/30/1997 2,000,000.00 24,156,345.48 6 05/14/1997 City of Palm Desert PM - 7 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY APRIL 1, 1997 - APRIL 30, 1997 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES ixiB INVESTMENT # ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE CITY LOAN TO RDA 19,000,000.00 ,WTALS 2,112,863.97 4,219,028.50 78,911,373.34 7 r 05/1./1997 PM - 6 City of Palm Desert CITY INVESTMENT ACTIVITY SUMMARY ACCRUAL APRIL 1996 through APRIL 1997 YIELD TO MATURITY MANAGED NUMBER OF NUMBER OF AVERAGE MONTE NUMBER OF TOTAL 360 365 POOL SECURITIES SECURITIES AVERAGE DAYS TO END YEAR SECURITIES INVESTED EQUIV EQUIV RATE PURCHASED MATURED/SOLD TERM MATURITY April 96 78 75,277,800.04 5.553 5.630 5.171 1 2 835 642 May 96 83 70,549,729.59 5.571 5.648 5.175 7 3 853 663 June 96 87 86,019,131.72 5.665 5.744 5.177 5 1 858 670 July 96 85 84,789,527.15 5.688 5.767 5.138 1 1 870 658 August 96 81 81,992,100.25 5.647 5.725 5.115 0 4 871 657 September 96 84 80,711,229.19 5.708 5.787 5.121 5 3 917 684 October 96 84 79,561,970.04 5.690 5.769 5.150 2 2 928 708 November 96 ---81 --78,701,281.76- .5.720- -,5.799 5.150 1 5 959 . 726 - December 96 78 77,728,658.14 5.712 5.791 5.259 0 3 950 693 January 97 78 80,692,155.05 5.748 5.827 5.260 2 2 964 701 February 97 77 79,439,341.41 5.734 5.814 5.188 1 2 982 718 March 97 78 81,627,550.19 5.735 5.815 5.210 3 2 950 676 April 97 77 78,911,373.34 5.814 5.895 6.485 0 1 973 673 AVERAGES 81 $ 80,307,834.45 5.694% 5.770% 5.277% 2 2 916 682 8 T 05/14/1997 PM - 9 City of Palm Desert CITY DISTRIBUTION OF INVESTMENTS BY TYPE ACCRUAL APRIL 1996 through APRIL 1997 MONTH TYPES OF INVESTMENTS END YEAR BCD SCD LA1 LA2 LA5 PA1 PA2 MTN BAC CPI C( 1 FAC FAD TRC TRD MD1 MCI April 96 13.3 7.2 0.0 24.9 7.0 0.7 19.1 2.0 0.5 25.2 May 96 9.6 5.2 0.0 25.3 6.7 3.8 22.7 2.0 0.5 24.2 June 96 2.9 4.4 0.0 20.8 6.1 9.2 32.2 1.8 0.5 22.1 July 96 4.6 0.0 19.6 6.2 12.3 32.7 1.8 0.5 22.4 August 96 7.9 0.0 20.5 6.4 9.7 31.6 0.3 0.5 23.2 September 96 4.9 0.0 19.8 6.5 4.2 40.8 0.3 23.5 October 96 3.4 0.0 20.2 3.1 11.5 1.2 36.3 0.3 23.9 November 96 5.2 0.0 16.6 3.1 14.2 0.5 36.2 24.1 December 96 7.0 15.6 3.2 14.4 35.5 24.4 January 97 7.5 19.1 15.7 34.2 23.6 February 97 9.3 16.6 18.5 31.7 23.9 March 97 6.5 19.4 18.7 32.1 23.3 April 97 5.9 20.3 19.1 30.6 24.1 AVERAGES 2.08 6.1% 0.0% 19.9% 0.7% 11.6% 3.2% 32.0% 0.6% 0.2% 23.7% BCD - Certificates of Deposit - Bank SCD - Certificates of Deposit - S 8 L LA1 - Fidelity Treasury Pool LA2 - Managed Pool Accounts LA5 - Local Agency Investment Funds PA1 - Passbook/Checking Accounts PA2 - Cash with Trustee -First Trust MTV - Medium Term Notes BAC - Bankers Acceptances CPI - Commercial Paper - Interest Bearing COM - Commercial Paper - Discount FAC - Federal Agency Issues - Coupon FAD - Federal Agency Issues - Discount TRC - Treasury Securities - Coupon TRD - Treasury securities - Discount MD1 - Treasury securities - T-sills MCI - City Loan to RDA 9 05/14/1997 PM - 10 City of Palm Desert CITY INTEREST EARNINGS SUMMARY ACCRUAL APRIL 30, 1997 MONTH ENDING FISCAL APRIL 30, 1997 YEAR TO DATE CD/Coupon/Discount Investments: Interest Collected $ 213,500.00 $ 2,261,591.80 PLUS Accrued Interest at End of Period 2,543,724.01 2,543,724.01 LESS Accrued Interest at Beginning of Period ( 2,455,892.57) ( 1,781,128.00) Interest Earned during Period $ 301,331.44 3,024,187.81 ADJUSTED by Premiums end Discounts 273.91 -27,623.00 ADJUSTED by Capital Gains or Losses 0.00 34,665.20 Earnings during Period 301,605.35 $ 3,031,230.01 Mortgage Backed Securities: Interest Collected $ 0.00 $ 0.00 PLUS Accrued Interest at End of Period 0.00 0.00 LESS Accrued Interest at Beginning of Period ( 0.00) ( 0.00) Interest Earned during Period $ 0.00 0.00 ADJUSTED by Premiums and Discounts 0.00 0.00 ADJUSTED by Capital Gains or Losses 0.00 0.00 Earnings during Period 0.00 $ 0.00 Cash/Checking Accounts: Interest Collected $ 226,318.98 $ 1,098,397.26 PLUS Accrued Interest at End of Period 383,928.74 383,928.74 LESS Accrued Interest at Beginning of Period ( 506,911.18) ( 540,318.29) Interest Earned during Period $ 103,336.54 $ 942,007.72 TOTAL Interest Earned during Period $ 404,667.90 i 3,966,195.53 TOTAL Ajustments from Premiums and Discounts $ 273.91 $ -27,623.00 TOTAL Capital Gains or Losses $ 0.00 $ 34,665.20 TOTAL Earnings during Period $ 404,941.89 $ 3,973,237.73 10 05/14/1997 Assessment District 83-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOON VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12027 R Fidelity Institutional Cash 62,007.00 62,007.00 62,007.00 5.220 5.148 5.220 1 12034 Fidelity Institutional Cash 8.00 8.00 8.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES - 62,015.00 62,015.00 62,015.00 5.148 5.220 1 TOTAL INVESTMENTS and AVG. $ 62,015.00 62,015.00 62,015.00 5.148% 5.220% 1 11 05/14/1997 Assessment District 83-1 PM - 3 Iid/EMTMEN? PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE HOOK VALUE FACE VALUE MARRET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 24002 Cash with Trustee 0.46 0.000 0.000 0.000 TOTAL CASE and INVESTMENTS $ 62,015.46 12 05/14/1997 1995 Refunding Bonds 84-1-R PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12025 R Fidelity Institutional Cash 458,672.00 456,672.00 458,672.00 5.220 5.148 5.220 1 12035 Fidelity Institutional Cash 109.00 109.00 109.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 458,781.00 458,781.00 458,781.00 5.148 5.220 1 TOTAL INVESTMENTS and AVO. $ 458,781.00 458,781.00 458,781.00 5.148% 5.220% 1 13 05/14/1997 1995 RSLundin9 Sonde 84-1-R PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE HOCK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 24001 Cash With Trusts 0.89 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 458,781.89 • 14 05/14/1997 AD 87-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENT'S CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12028 R Fidelity Institutional Cash 157,751.00 157,751.00 157,751.00 5.220 5.148 5.220 1 12036 Fidelity Institutional Cash 39.00 39.00 39.00 5.220 5.14E 5.220 1 SUBTOTALS and AVERAGES 157,790.00 147,790.00 157,790.00 5.148 5.220 1 MANAGED POOL ACCOUNTS 12040 Pacific Horizon Treasury Fu 0.00 0.00 0.00 4.900 4.833 4.900 1 12041 Pacific Horizon Treasury Fu 0.00 0.00 0.00 4.800 4.734 4.800 1 SUBTOTALS and AVERAGES 0.00 0.00 0.00 0.000 0.000 0 TOTAL INVESTMENTS and AVG. $ 157,790.00 157,790.00 157,790.00 5.148% 5.220% 1 15 05/14/1997 AD 87-1 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS IRMA= ISSUER DATE NOOK VALUE PACE VALUE MARKET VALUE FATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 24009 Cash with Trustee 2.27 0.001 0.001 0.001 TOTAL CASH and INVESTMENTS $ 157,792.27 16 05/14/1997 Indian Ridge 91-1 Series A PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESIMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12015 Fidelity Institutional Cash 290.00 290.00 290.00 5.220 5.148 5.220 1 12016 I Fidelity Institutional Cash 718,303.00 718,303.00 718,303.00 5.220 5.148 5.220 1 12022 R Fidelity Institutional Cash 3,925.00 3,925.00 3,925.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 722,518.00 722,518.00 722,518.00 5.148 5.220 1 FEDERAL AGENCY ISSUES - COUPON 14008 R FED HOME LOAN MORTGAGE CORP 01/09/97 490,923.61 500,000.00 493,750.00 6.855 6.930 7.026 01/09/02 1,714 14012 Federal National Mortgage A 03/21/97 578,887.51 580,000.00 579,246.00 6.240 6.350 6.438 03/19/99 687 SUBTOTALS and AVERAGES 1,077,811.12 1,072,996.00 1,080,000.00 6.618 6.710 1,162 TOTAL INVE8TNSET6 and AVG. $ 1,800,329.12 1,795,514.00 1,802,518.00 6.028% 6.112% 696 17 05/14/1997 Indian Ridge 91-1 Series A PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- ITN --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARNE? VALUE RATE 360 365 DATE TO MAT CASH RITE TRUSTEE -FIRST TRUST 24004 Cash with Trustee 2.14 0.000 0.000 0.000 Accrued Interest at Purchase 201.07 TOTAL CASH $ 203.21 TOTAL CASE and INVESTMENTS S 1,800,532.33 18 05/14/1997 Indian Ridge 91-1 Series B PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- yTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12042 I Fidelity Institutional Cash 1,244,824.00 1,244,824.00 1,244,824.00 5.220 5.148 5.220 1 12043 Fidelity Institutional Cash 81,812.00 81,812.00 81,012.00 5.220 5.148 5.220 1 12043 R Fidelity Institutional Cash 163,786.00 163,786.00 163,786.00 5.210 5.139 5.210 1 12044 Fidelity Institutional Cash 0.00 0.00 0.00 5.150 5.079 5.150 1 SUBTOTALS and AVERAGES 1,490,422.00 1,490,422.00 1,490,422.00 5.147 5.219 1 FEDERAL AGENCY ISSUES - COUPON 14005 I Federal Rome Loan Bank 12/12/95 1,019,044.31 1,000,000.00 985,937.50 6.285 5.608 5.686 07/28/00 1,184 14011 Federal Bone Loan Bank 03/26/97 1,800,000.00 1,800,000.00 1,797,642.00 6.310 6.310 6.398 03/26/99 694 14001 I Federal National Mortgage A 12/12/95 1,001,146.06 1,000,000.00 1,000,000.00 5.650 5.386 5.461 10/20/97 172 14002 I Federal National Mortgage A 12/12/95 1,056,430.80 1,000,000.00 1,038,437.50 8.450 5.877 5.958 07/12/99 802 14004 I Federal National Mortgage A 12/12/95 1,088,363.29 1,000,000.00 1,063,125.00 9.050 5.620 5.699 04/10/00 1,075 SUBTOTALS and AVERAGES 5,964,984.46 5,885,142.00 - . - - . 5,800,000.00 5.832 5.913 779 TREASURY SECURITIES - COUPON 16005 United States Treasury 12/12/95 291,618.32 291,000.00 291,090.94 6.000 5.246 5.319 08/31/97 122 16006 R United states Treasury 12/12/95 467,208.30 484,000.00 481,126.25 5.875 5.241 5.314 08/15/98 471 16007 I United States Treasury 12/12/95 1,023,050.45 1,000,000.00 995,937.50 6.375 5.338 5.413 01/15/00 989 16008 R United States Treasury 12/12/95 469,169.52 445,000.00 459,184.38 8.000 5.279 5.352 08/15/99 836 16009 I United States Treasury 12/12/95 1,022,960.53 1,000,000.00 1,017,187.50 7.875 5.212 5.284 04/15/98 349 16010 I United States Treasury 12/12/95 1,023,704.24 1,000,000.00 1,011,250.00 7.125 5.272 5.345 10/15/98 532 SUBTOTALS and AVERAGES 4,317,711.36 4,255,776.57 4,220,000.00 5.269 5.342 595 .TOTAL INVESTMENTS and AVG. 8 11,773,117.82 11,631,340.57 11,510,422.00 5.539% 5.616% 613 19 05/14/1997 Indian Ridge 91-1 Series H PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- ITN --- MATURITY DAYS NUMBER ISSUER DATE HOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASE WITH TRUSTEE -FIRST TRUST 24010 Cash with Trustee 1.19 0.000 0.000 0.000 TOTAL CASE and INVESTMENTS $ 11,773,119.01 20 05/14/1997 Sierra Nova 92-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE PACE VALUE MARNE? VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12004 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 12005 Fidelity Institutional Cash 51.00 51.00 51.00 5.220 5.148 5.220 1 12006 R Fidelity Institutional Cash 238,860.00 238,860.00 238,860.00 5.220 5.148 5.220 1 12007 Fidelity Institutional Cash 11,220.00 11,220.00 11,220.00 •*.•** **.**• •*.• • 1 12045 Fidelity Institutional Cash 185.00 185.00 185.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 250,316.00 250,315.00 250,316.00 28.446 28.841 1 TOTAL INVESTMENTS and AVG. $ 250,316.00 250,316.00 250,316.00 28.446%28.841i 1 21 05/:4/1997 Sierra Nova 92-1 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARRET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 24008 Cash with Trustee 2.06 0.000 0.000 0.000 TOTAL CASE and INVESTMENTS $ 250,318.06 22 05/14/1997 Big Horn 94-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE PACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12018 A Fidelity Institutional Cash 708,416.00 708,416.00 708,416.00 5.220 5.148 5.220 1 12019 Fidelity Institutional Cash 24,120.00 24,120.00 24,120.00 5.220 5.148 5.220 1 12020 I Fidelity Institutional Cash 7,084.00 7,084.00 7,084.00 5.220 5.148 5.220 1 12021 Fidelity Institutional Cash 19.00 19.00 19.00 5.220 5.148 5.220 1 BUBTOTALB and AVERAGES 739,639.00 739,639.00 739,639.00 5.148 5.220 1 TOTAL INVESTMENTS and AVG. $ 739,639.00 739,639.00 739,639.00 5.148% 5.220% 1 23 05/14/1997 Big Horn 94-1 PM - 3 IHVES'd4EST PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE HOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 24007 Cash with Trustee 2.35 0.000 0.000 0.000 TOTAL CASH and =VESTMENTS $ 739,641.35 24 05/14/1997 Sunterrans 94-2 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARP.ET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12009 I Fidelity Institutional Cash 34,555.00 34,555.00 34,555.00 5.220 5.148 5.220 1 12010 R Fidelity Institutional Cash 129,193.00 129,193.00 129,193.00 5.220 5.148 5.220 1 12032 Fidelity Institutional Cash 57.00 57.00 57.00 5.220 5.148 5.220 1 12033 Fidelity Institutional Cash 0.00 0.00 0.00 5.210 5.139 5.210 1 SUBTOTALS and AVERAGES 163,805.00 163,805.00 163,805.00 5.148 5.220 1 TOTAL INVESTMENTS and AVQ. $ 163,805.00 163,805.00 163,805.00 5.148% 5.220% 1 25 05/14/1997 Suntarraca 94-2 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE EOM VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 24006 Cash with Trustee 0.99 0.000 0.000 0.000 TOTAL CASE and INVESTMENTS $ 163,805.99 26 05/14/1997 Merano 94-3 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12011 Fidelity Institutional Cash 0.00 0.00 0.00 5.140 5.070 5.140 1 12012 I Fidelity Institutional Cash 394,898.00 394,898.00 394,898.00 5.220 5.148 5.220 1 12013 R Fidelity Institutional Cash 128,949.00 128,949.00 128,949.00 5.220 5.148 5.220 1 12031 Fidelity Institutional Cash 45.00 45.00 45.O0 5.220 5.148 5.220 1 12037 Fidelity Institutional Cash 29.00 29.00 29.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 523,921.00 523,921.00 523,921.00 5.148 5.220 1 TOTAL INVESTMENTS and AVG. $ 523,921.00 523,921.00 523,921.00 5.148% 5.220% 1 27 05/14/1997 Merano 94-3 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- Y1M --- MATURITY DAYS NUMBER ISSUER DATE SONG VALUE PACE VALUE MARKER VALUE PATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 24005 Cash with Trustee 3.02 0.000 0.000 0.000 TOTAL CASE and INVESTMENTS 1 523,924.02 28 05/14/1997 95 RSV END: 83-1, 84-1-R, 87-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVUMMEYTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12023 Fidelity Institutional Cash 21,931.00 21,931.00 21,931.00 5.220 5.148 5.220 1 12024 Fidelity Institutional Cash 4.00 4.00 4.00 5.210 5.139 5.210 1 12039 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 12046 Fidelity Institutional Cash 31,317.00 31,317.00 31,317.00 5.220 5.148 5.220 1 12049 Fidelity Institutional Cash 49,687.00 49,607.00 49,687.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 102,939.00 102,939.00 102,939.00 5.148 5.220 1 TOTAL INVESTMENTS and AVO. $ 102,939.00 102,939.00 102,939.00 5.148% 5.220% 1 29 05/14/1997 95 REV END: 83-1, 84-1-R, 87-1 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASE NITS TRUSTEE -FIRST TRUST 24003 Cash with Trustee 2.73 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 102,941.73 30 05/14/1997 City General Fund PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MAPflT VALUE RATE 360 365 DATE TO MAT LOCAL AGENCY INVESTMENT FUNDS 12000 Local Agency Investment Fun 16,052,483.26 16,052,483.26 16,052,483.26 5.560 5.484 5.560 1 FEDERAL AGENCY ISSUES - COUPON 14010 Federal Farm Credit Bank 02/25/97 2,001,111.11 2,000,000.00 1,990,625.00 6.510 6.473 6.563 02/07/00 1,012 14007 Federal Rome Loan Bank 10/24/96 3,988,853.02 4,000,000.00 3,962,500.00 5.820 6.019 6.102 11/02/98 550 14009 FED HOME LOAN MORTGAGE CORP 01/09/97 1,997,638.89 2,000,000.00 1,975,000.00 6.855 6.930 7.026 01/09/02 1,714 SUBTOTALS and AVERAGES 7,987,603.02 7,928,125.00 8,000,000.00 6.360 6.449 957 TREASURY SECURITIES - COUPON 16034 United States Treasury 05/31/96 1,998,993.56 .2,000,000.00 1,994,375.00 6.000 5.967 6.050 05/31/98 395 16035 United States Treasury 05/31/96 1,982,838.19 2,000,000.00 1,981,250.00 5.125 6.041 6.125 03/31/98 334 16036 United States Treasury 06/26/96 2,983,299.88 3,000,000.00 2,982,187.50 5.875 6.252 6.338 08/15/98 471 16037 United States Treasury 06/26/96 2,944,560.14 3,000,000.00 2,941,875.00 5.125 6.314 6.402 11/30/98 578 16038 United States Treasury 06/26/96 1,991,584.05 2,000,000.00 1,992,500.00 5.375 6.052 6.136 11/30/97 213 16039 United States Treasury 06/26/96 1,999,734.63 2,000,000.00 2,000,625.00 6.000 5.950 6.033 08/31/97 122 16042 United States Treasury 09/13/96 1,983,833.84 2,000,000.00 1,982,500.00 5.125 6.068 6.152 02/28/90 303 16045 United States Treasury 09/05/96 1,994,227.37 2,000,000.00 1,995,000.00 6.125 6.270 6.358 08/31/90 487 16046 United States Treasury 03/21/97 1,959,562.46 2,000,000.00 1,950,000.00 5.000 6.124 6.209 02/15/99 655 SUBTOTALS and AVERAGES 19,838,634.12 19,820,312.50 20,000,000.00 6.132 6.217 407 TOTAL INVESTMENTS and AVG. $ 43,878,720.40 43,800,920.76 44,052,483.26 5.936% 6.019% 359 31 05/16/1997 City General Fund PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT PASSBOOK/CHECKING ACCOUNTS 13000 Hank of America - Checking 2,442,046.85 0.000 0.000 0.000 13002 Bank of America - Savings 1,005,288.92 2.000 1.973 2.000 SUBTOTALS and AVERAGES 3,447,335.77 0.575 0.583 Accrued Interest at Purchase 15,902.27 TOTAL CASH $ 3,463,238.04 TOTAL CASH and INVESTMENTS $ 47,341,958.44 32 [Ft 05/14/1997 CITY LOAN TO RDA PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YIN --- MATURITY DAYS NUMBER ISSUER DATE HOOK VALUE PACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CITY LOU IV RDA 12001 Redevelopment Agency-Loan 07/01/95 19,000,000.00 19,000,000.00 19,000,000.00 5.536 5,662 5.536 07/01/01 1,522 TOTAL INVESTMENTS and AVG. $ 19,000,000.00 19,000,000.00 19,000,000.00 5.462% 5.538% 1,522 33 1 1 1 1 I. 112 * 11. 1. .c .c .c .c f I i 1 1 € III ,Myu� 1'' ,°� W P. 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Usmcjmm i. i ca AW Y Evauuup ONDLL x x x x x iog ` 0-rLLulrI— r- eLeu P. as s as—, is 1 flaim Desert Redevelopmennt Agency Month-end investment Report April 30, 1997 TABLE OF CONTENTS INVESTMENT INFORMATION FOR ENTIRE PORTFOLIO Portfolio Master Stsnmary 1 investment • • • °o Detail-Investments 2 investment • • • t • Detail -Cash 5 Portfolio Master it estment Activity by Type 6 Investment Activist summary 9 Distribution of Investments by Type 10 Interest Earnings Summary 11 investment Portfolio Compliance Checklist 33 INVESTMENT INFORMATIONBY FUND/BOND S100 Million Bond. 12 5175 Million Bond: 14 S24 Million Bond 16 S4 Million Bond 18 Low-Mod Set Aide Refunding 20 1996 Desert Rose Shies 22 1996 Desert Rose ies'B 24 Blythe County Coact Administration Center 26 Palm Desert OfficComplex 28 Redevelopment Agency General 29 Self Help 31 Desert willow acempen 32 05/13/1997 PD Redevelopment Agency PM - 1 PORTFOLIO MASTER SUMMARY RDA APRIL 30, 1997 ACCRUAL AVERAGE ---YIELD TO MATURITY--- PERCENT OF AVERAGE DAYS TO 360 365 INVESTON'S BOOR VALUE PORTFOLIO TERM MATURITY EQUIVALENT EQUIVALENT Fidelity Treasury Pool i 19,601,348.91 24.63 1 1 5.148 5.220 Local Agency Investment Funds $ 10,489,223.44 13.18 1 1 5.484 5.560 Federal Agency Issues - Coupon f 17,709,426.14 22.25 719 542 5.968 6.051 Federal Agency Issues - Discount $ 2,963,010.00 3.72 81 50 5.540 5.625 Treasury Securities - Coupon $ 28,742,212.84 36.12 561 240 5.664 5.743 Treasury Securities - T-Bill $ 70,163.41 0.09 345 84 5.637 5.715 TOTAL INVESTMENTS and AVERAGES $ 79,575,386.74 100.00% 366 210 5.577% 5.654% CASH Passbook/Checking - No Yield Totals $ 884,225.16 0.050 0.051 (not included in yield calculations) Accrued Interest at Purchase $ 41,947.27 TOTAL CASH and PURCHASE INTEREST $ 926,172.43 TOTAL CASH and INVESTMENTS $ 80,501,559.17 MONTH ENDING FISCAL TOTAL EARNINGS APRIL 30 YEAR TO DATE Current Year $ 370,670.14 $ 4,457,031.78 AVERAGE DAILY BALANCE $ 80,773,832.69 $ 88,261,860.76 EFFECTIVE RATE OF RETURN 5.58% 6.06% The investment portfolio of the P.D. Redevelopment Agency complies with its Paul S. Gibson Investment Policy and the California Government Code sections pertaining to the Treasurer investment of local agency funds. Pending any future actions by the Governing Board of the Agency or any unforeseen catastrophy, the Redevelopment Agency has adequate cash flow to meet its expenditure requirements for the next six months. DATE Market values are from First Trust i IDC Datafeed pricing service. 1 05/13/1997 PD Redevelopment Agency PM - 2 INVESTMENT PORTFOLIO DETAILS - INVEaTmENTS RDA APRIL 30, 1997 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOK VALUE PACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11002 I Fidelity Institutional Cash 7,697,553.00 7,697,553.00 7,697,553.00 5.220 5.148 5.220 1 11003 R Fidelity Insttitutional Cash 16,660.00 16,660.00 16,660.00 5.220 5.148 5.220 1 11004 8 Fidelity Institutional Cash 1,178,733.00 1,178,733.00 1,178,733.00 5.220 5.148 5.220 1 11005 I Fidelity Institutional Cash 203,654.00 203,654.00 203,654.00 5.220 5.148 5.220 1 11006 R Fidelity Insttitutional Cash 16,564.00 16,564.00 16,564.00 5.220 5.148 5.220 1 11008 R Fidelity Institutional Cash 1,188,711.00 1,188,711.00 1,188,711.00 5.220 5.148 5.220 1 11009 I Fidelity Institutional Cash 2,258,616.00 2,258,616.00 2,258,616.00 5.220 5.148 5.220 1 11010 I Fidelity Institutional Cash 300,965.00 300,965.00 300,965.00 5.220 5.148 5.220 1 11011 R Fidelity Insttitutional Cash 1,740,372.00 1,740,372.00 1,740,372.00 5.220 5.148 5.220 1 11012 E Fidelity Institutional Cash 0.00 0.00 0.00 5.210 5.139 5.210 1 11018 Fidelity Institutional Cash 1,570.00 1,570.00 1,570.00 5.220 5.148 5.220 1 11019 Fidelity Institutional Cash 41,997.00 41,997.00 41,997.00 5.220 5.148 5.220 1 11020 Fidelity Institutional Cash 0.00 0.00 0.00 5.160 5.089 5.160 1 11021 Fidelity Institutional Cash 44,582.00 44,582.00 44,582.00 5.220 5.148 5.220 1 11022 Fidelity Institutional Cash 67.00 67.00 67.00 5.220 5.148 5.220 1 11023 Fidelity Institutional Cash 269.00 269.00 269.00 5.220 5.148 5.220 1 11025 Fidelity Institutional Cash 28,474.00 28,474.00 28,474.00 5.220 5.148 5.220 1 11026 Fidelity Institutional Cash 65.00 65.00 65.00 5.220 5.148 5.220 1 11027 2 Fidelity Institutional Cash 227,572.00 227,572.00 227,572.00 5.220 5.148 5.220 1 11028 Fidelity Institutional Cash 16.00 16.00 16.00 5.210 5.139 5.210 1 11029 Fidelity Institutional Cash 603.00 603.00 603.00 5.220 5.148 5.220 1 11030 R Fidelity Institutional Cash 334,052.00 334,052.00 334,052.00 5.220 5.148 5.220 1 11031 Fidelity Institutional Cash 21,249.00 21,249.00 21,249.00 5.220 5.148 5.220 1 11032 Fidelity Institutional Cash 0.00 0.00 0.00 5.150 5.079 5.150 1 11034 E Fidelity Institutional Cash 0.00 0.00 0.00 4.780 4.715 4.780 1 11035 Fidelity Institutional Cash 0.00 0.00 0.00 4.780 4.715 4.780 1 11036 Fidelity Institutional Cash 0.00 0.00 0.00 4.780 4.715 4.780 1 11037 Fidelity Institutional Cash 29.00 29.00 29.00 5.220 5.148 5.220 1 11038 Fidelity Institutional Cash 649.00 649.00 649.00 5.220 5.148 5.220 1 11039 R Fidelity Institutional Cash 41,646.91 41,646.91 41,646.91 5.220 5.148 5.220 . 1 11040 Fidelity Institutional Cash 175.00 175.00 175.00 5.220 5.148 5.220 1 11041 I Fidelity Institutional Cash 248,142.00 248,142.00 248,142.00 5.220 5.148 5.220 1 11042 Fidelity Institutional Cash 12.00 12.00 12.00 5.260 5.188 5.260 1 11043 Fidelity Institutional Cash 0.00 0.00 0.00 4.780 4.715 4.780 1 11044 Fidelity Institutional Cash 13,349.00 13,349.00 13,349.00 5.220 5.148 5.220 1 11045 Fidelity Institutional Cash 0.00 0.00 0.00 4.780 4.715 4.780 1 11046 Fidelity Institutional Cash 3,774.00 3,774.00 3,774.00 5.220 5.148 5.220 1 11047 Fidelity Institutional Cash 122,690.00 122,890.00 122,890.00 5.220 5.14E 5.220 1 11048 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 11049 Fidelity Institutional Cash 9,301.00 9,301.00 9,301.00 5.220 5.148 5.220 1 11050 Fidelity Institutional Cash 38,891.00 38,891.00 38,891.00 5.220 5.148 5.220 1 11051 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 11052 Fidelity Institutional.Cash 2,760,922.00 2,760,922.00 2,760,922.00 5.220 5.148 5.220 1 2 05/13/1997 PD Redevelopment Agency PM - 3 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA APRIL 30, 1997 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOON VALUE FACE VALUE MAREET VALUE BATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11053 Fidelity Institutional Cash 966,197.00 966,197.00 966,197.00 5.220 5.148 5.220 1 11054 Fidelity Institutional Cash 93,027.00 93,027.00 93,027.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 19,823,691.40 19,601,348.91 19,601,348.91 19,601,348.91 5.148 5.220 1 LOCAL AGENCY INVESTMENT FUNDS 21000 Local Agency Investment Fun 10,489,223.44 10,489,223.44 10,489,223.44 5.560 5.484 5.560 1 21001 Local Agency Investment Fun 0.00 0.00 0.00 5.587 5.510 5.587 1 SUBTOTALS and AVERAGES 10,402,819.08 10,489,223.44 10,489,223.44 10,489,223.44 5.484 5.560 1 CASH WITH TRUSTEE -FIRST TRUST 26010 Cash with Trustee 0.00 0.00 0.00 0.000 0.000 0.000 1 AVERAGES 0.00 COMMERCIAL PAPER - DISCOUNT AVERAGES 1,329,274.07 FEDERAL AGENCY ISSUES - COUPON 15008 R Federal Farm Credit 09/13/96 498,929.60 500,000.00 499,043.75 6.125 6.312 6.400 07/09/96 434 15016 Federal Farm Credit 02/24/97 1,499,288.44 1,500,000.00 1,499,288.44 5.400 5.472 5.548 12/02/97 215 15005 E Federal Home Loan Bank 06/14/95 2,117,816.62 2,115,000.00 2,116,321.88 6.105 5.855 5.937 12/01/97 214 15009 R Federal Home Loan Bank 10/03/96 798,328.46 800,000.00 792,250.00 6.425 6.480 6.570 08/20/01 1,572 15013 Federal Home Loan Bank 04/21/97 2,000,000.00 2,000,000.00 2,006,960.00 7.000 6.998 7.095 04/21/00 1,086 15015 Federal Home Loan Bank 02/24/97 999,764.48 1,000,000.00 999,764.48 5.400 5.430 5.506 11/26/97 209 15010 R Federal Home Loan Mortgage 10/22/96 1,000,000.00 1,000,000.00 989,687.50 5.800 6.123 6.208 03/19/99 687 15011 R Federal Home Loan Mortgage 01/09/97 1,496,770.83 1,500,000.00 1,489,687.50 6.855 6.930 7.026 01/09/02 1,714 15012 R Federal Home Loan Mortgage 01/09/97 299,354.17 300,000.00 297,937.50 6.855 6.930 7.026 01/09/02 1,714 15014 Federal National Mortgage A 01/16/97 3,999,175.44 4,000,000.00 3,999,175.54 5.600 5.620 5.698 01/19/98 263 15018 R Federal National Mortgage A 12/19/96 3,000,000.00 3,000,000.00 3,000,000.00 5.430 5.430 5.505 06/19/97 49 SUBTOTALS and AVERAGES 16,375,898.91 17,709,428.14 17,690,916.59 17,715,000.00 5.968 6.051 542 FEDERAL AGENCY ISSUES - DISCOUNT 16012 I Federal National Mortgage A 03/31/97 2,963,010.00 3,000,000.00 2,977,166.67 5.480 5.548 5.625 06/20/97 50 AVERAGES 3,144,375.44 TREASURY SECURITIES - COUPON 17007 I Unites States Treasury 07/01/94 999,973.33 1,000,000.00 1,000,625.00 6.000 5.921 6.003 11/30/97 213 17010 R Unites States Treasury. 07/01/94 698,088.73 692,000.00 697,622.50 6.750 6.165 6.251 05/31/99 760 3 05/13/1997 PD Radevelopaent Agency PM - 4 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA APRIL 30, 1997 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT TREASURY SECURITIES - COUPON 17012 I Unites States Treasury 07/01/95 1,300,968.32 1,300,000.00 1,302,031.25 6.375 5.807 5.887 06/30/97 60 17013 R Units, States Treasury 07/01/95 107,629.06 104,000.00 107,250.00 7.750 6.098 6.182 11/30/99 943 17015 E Unites States Treasury 07/01/95 231,339.56 231,000.00 231,144.38 6.000 5.645 5.724 11/30/97 213 17030 R Unites States Treasury )03/02/95 249,865.71 250,000.00 250,390.63 6.375 6.636 6.728 06/30/97 60 17065 R Unites States Treasury 05/17/96 993,316.40 1,000,000.00 990,000.00 6.250 6.359 6.447 04/30/01 1,460 17066 R Unites States Treasury 05/17/96 397,326.56 400,000.00 396,000.00 6.250 6.359 6.447 04/30/01 1,460 17068 I Unites States Treasury 05/20/96 4,999,249.53 5,000,000.00 5,001,562.50 5.625 5.636 5.714 06/30/97 60 17069 Unites States Treasury 05/24/96 2,002,316.01 2,000,000.00 2,003,750.00 6.125 5.905 5.987 03/31/98 334 17071 Unites States Treasury 05/24/96 1,000,229.86 1,000,000.00 1,000,937.50 5.875 5.691 5.770 07/31/97 91 17072 Unites States Treasury 05/24/96 999,663.46 1,000,000.00 1,000,312.50 5.750 5.749 5.828 09/30/97 152 17076 Unites States Treasury 05/30/96 800,256.15 800,000.00 800,250.00 6.125 5.640 5.718 05/31/97 30 17077 Unites States Treasury 05/30/96 993,037.80 1,000,000.00 993,437.50 5.000 5.900 5.982 01/31/98 275 17078 R Unites States Treasury 10/03/96 999,818.11 1,000,000.00 999,375.00 5.625 5.580 5.658 10/31/97 183 17079 E Unites States Treasury 11/14/96 5,006,494.14 5,000,000.00 5,001,562.50 5.750 5.346 5.420 09/30/97 152 17080 2 Unites States Treasury 11/14/96 5,003,077.65 5,000,000.00 5,001,562.50 6.125 5.278 5.351 05/31/97 30 17083 Unites States Treasury 03/21/97 1,959,562.46 2,000,000.00 1,958,125.00 5.000 6.124 6.209 02/15/99 655 SUBTOTALS and AVERAGES 28,743,392.61 28,742,212.84 28,735,938.76 28,777,000.00 5.664 5.743 240 TREASURY SECURITIES - T-BILL 18021 Unites States Treasury 08/13/96 70,163.41 74,000.00 73,115.69 5.410 5.637 5.715 07/24/97 84 AVERAGES 70,163.41 TOTAL INVESTMENTS and AVG. 6 79,575,306.74 79,567,710.06 79,889,615.72 79,656,572.35 5.5778 5.6541 210 4 05/13/1997 PD Redevelopment Agency PM - 5 INVESTENT PORTFOLIO DETAILS - CASH RDA APRIL 30, 1997 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURTY DAYS NUMBER ISSUER BALANCE DATE HOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT PASSBOOK/CHECKING 25000 Hank of America-Checking 137,775.28 0.000 0.000 0.000 25008 Hank of America-Checking 701,006.48 0.000 0.000 0.000 25001 Hank of America-Ravings 22,616.54 2.000 1.973 2.000 25003 FIRST INTERSTATE HANK 0.00 3.290 3.245 3.290 25005 FIRST INTERSTATE HANK 0.00 4.025 3.970 4.025 25006 FIRST INTERSTATE HANK 0.00 0.000 0.000 0.000 25002 B of A - Self Help Checking 22,802.80 0.000 0.000 0.000 sUSTdrALs and AVERAGES 884,216.96 884,225.16 0.050 0.051 Accrued Interest at Purchase 41,947.27 TOTAL CASH S 926,172.43 TOTAL CASH and.INVESTMENTS $ 80,773,832.69 80,501,559.17 5 05/13/1997 PD Redevelopment Agency PM - 6 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE RDA APRIL 1, 1997 - APRIL 30, 1997 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT 4 ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE FIDELITY TREASURY POOL (Monthly Summary) 11002 I Fidelity Institutional Cash 5.220 31,371.00 11003 R Fidelity Institutional Cash 5.220 297.00 11004 E Fidelity Institutional Cash 5.220 4,218.00 11005 I Fidelity Institutional Cash 5.220 830.00 11006 R Fidelity Institutional Cash 5.220 67.00 11008 R Fidelity Institutional Cash 5.220 17,342.00 11009 I Fidelity Institutional Cash 5.220 11,261.00 11010 I Fidelity Institutional Cash 5.220 2,445,598.00 11011 R Fidelity Institutional Cash 5.220 38,143.00 11012 R Fidelity Institutional Cash 5.210 11018 Fidelity Institutional Cash 5.220 480,528.00 2,545,192.00 11019 Fidelity Institutional Cash 5.220 171.00 11020 Fidelity Institutional Cash 5.160 11021 Fidelity Institutional Cash 5.220 182.00 11022 Fidelity Institutional Cash 5.220 11023. Fidelity Institutional Cash 5.220 1.00 11025 Fidelity Institutional Cash 5.220 116.00 11026 Fidelity Institutional Cash 5.220 11027 E Fidelity Institutional Cash 5.220 927.00 11028 Fidelity Institutional Cash 5.210 11029 Fidelity Institutional Cash 5.220 851,305.00 11030 R Fidelity Institutional Cash 5.220 1,361.00 11031 Fidelity Institutional Cash 5.220 87.00 11032 Fidelity Institutional Cash 5.150 11034 E Fidelity Institutional Cash 4.780 11035 Fidelity Institutional Cash 4.780 11036 Fidelity Institutional Cash 4.780 11037 Fidelity Institutional Cash 5.220 29.00 11038 Fidelity Institutional Cash 5.220 2.00 11039 R Fidelity Institutional Cash 5.220 213.00 10,611.09 11040 Fidelity Institutional Cash 5.220 59.00 11041 I Fidelity Institutional Cash 5.220 3,293.00 559,439.00 11042 Fidelity Institutional Cash 5.260 11043 Fidelity Institutional Cash 4.780 11044 Fidelity Institutional Cash 5.220 10,622.00 11045 Fidelity Institutional Cash 4.780 11046 Fidelity Institutional Cash 5.220 15.00 11047 Fidelity Institutional Cash 5.220 28,512.00 11048 Fidelity Institutional Cash 5.220 11049 Fidelity Institutional Cash 5.220 9,017.00 11050 Fidelity Institutional Cash 5.220 159.00 11051 Fidelity Institutional cash 5.220 6 05/13/1997 PD Redevelopment Agency PM - 7 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE RDA APRIL 1, 1997 - APRIL 30, 1997 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT 4 ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE 11052 Fidelity Institutional Cash 5.220 408,265.00 11053 Fidelity Institutional Cash 5.220 387,038.00 11054 Fidelity Institutional Cash 5.220 618.00 SUBTOTALS and ENDING BALANCE 1,435,544.00 6,422,145.09 19,601,348.91 LOCAL AGENCY INVESTMENT FUNDS (Monthly Summary) 21000 Local Agency Investment Fund 5.560 206,605.34 220,000.00 21001 Local Agency Investment Pund 5.587 SUBTOTALS and ENDING BALANCE 206,605.34 220,000.00 10,489,223.44 PASSBOOK/CHECKING (Monthly Summary) 25000 Bank of America-Checking 0.000 25008 Bank of America-Checking 0.000 25001. _Bank of America-Savings 2.000 25003 FIRST INTERSTATE BANK 3.290 25005 FIRST INTERSTATE BANK 4.025 25006 FIRST INTERSTATE BANK 0.000 25002 B of A - Self Help Checking 0.000 SUBTOTALS and ENDING BALANCE 0.00 0.00 0.00 CASH WITH TRUSTEE -FIRST TRUST (Monthly Summary) 26000 Cash with Trustee 0.000 2.57 26001 Cash with Trustee 0.000 26002 Cash with Trustee 0.000 0.11 26003 Cash with Trustee 0.000 1.41 26004 Cash with Trustee 0.000 0.09 26005 Cash with Trustee 0.000 0.15 26006 Cash with Trustee 0.000 26007 Cash with Trustee 0.000 0.81 26008 Cash with Trustee 0.000 3.13 26009 Cash with Trustee 0.000 0.61 26010 Cash with Trustee 0.000 SUBTOTALS and ENDINO BALANCE 8.68 0.20 0.00 7 05/13/1997 PD Redevelopment Agency PM - 8 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE RDA APRIL 1, 1997 - APRIL 30, 1997 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT Y ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE COMMERCIAL PAPER - DISCOUNT 24003 Ford Motor Credit Corp. 5.480 04/01/1997 1,993,911.11 04/21/1997 1,993,911.11 SUBTOTALS and ENDING BALANCE 1,993,911.11 1,993,911.11 0.00 FEDERAL AGENCY ISSUES - COUPON 15013 Federal Home Loan Bank 7.000 04/21/1997 2,000,000.00 17,709,426.14 FEDERAL AGENCY ISSUES - DISCOUNT 16009 I Federal Home Loan Mortgage Cor 5.270 04/15/1997 388,640.22 2,963,010.00 TREASURY SECURITIES - COUPON 28,742,212.84- TREASURY SECURITIES - T-BILL 70,163.41 TOTALS 5,636,069.13 9,024,696.62 79,575,386.74 8 05/13/1997 PM - 9 PD Redevelopment Agency RDA INVESTMENT ACTIVITY SUMMARY ACCRUAL APRIL 1996 through APRIL 1997 YIELD TO MATURITY MANAGED NUMBER OF NUMBER OF AVERAGE MONTH NUMBER OP TOTAL 360 365 POOL SECURITIES SECURITIES AVERAGE DAYS TO END YEAR SECURITIES INVESTED EQUIV EQUIV RATE PURCHASED MATURED/SOLD TERM MATURITY April 96 83 90,208,295.31 5.520 5.597 5.159 0 4 389 183 May 95 94 100,720,774.03 5.649 5.728 5.158 16 7 525 334 June 96 97 89,105,637.01 5.665 5.744 5.066 1 3 590 356 July 96 104 89,528,473.60 5.653 5.731 5.081 0 3 582 331 August 96 102 91,598,931.58 5.634 5.713 5.079 2 7 559 303 September 96 101 86,905,667.09 5.662 5.741 5.077 2 5 590 303 October 96 106 103,501,531.69 5.568 5.645 5.134 10 5 497 267 November 96 .. .102 - 87,516,234.08 5.527 5.604 5.068 3 9 383 254 -. December 96 97 79,366,746.51 5.511 5.587 5.169 0 6 314 165 January 97 95 85,701,933.97 5.569 5.646 5.241 2 6 320 173 February 97 93 80,869,552.07 5.546 5.623 5.107 0 3 332 168 March 97 91 70,533,057.43 5.516 5.592 5.218 1 3 341 194 April 97 96 79,575,386.74 5.577 5.654 5.220 2 2 366 210 AVERAGES 97 $ 87,317,863.16 5.585% 5.662% 5.137% 3 5 445 249 9 05/13/1997 PM - 10 PD Redevelopment Agency RDA DISTRIBUTION OF INVESTMENTS BY TYPE ACCRUAL APRIL 1996 through APRIL 1997 MONTH TYPES OF INVESTMENTS END YEAR BCD SCD LA1 LA2 LA5 PA1 PA2 PA3 M'N BAC CPI CCM FAC PAD TRC TM MD1 April 96 41.0 18.0 2.4 37.8 0.9 May 96 10.1 23.7 2.1 58.4 0.8 4.9 June 96 11.4 13.7 2.4 0.6 65.5 0.9 5.5 July 96 14.8 11.7 2.4 0.6 64.3 0.9 5.5 August 96 22.0 12.1 2.3 0.5 62.3 0.5 0.3 September 96 18.7 11.3 3.0 1.1 65.0 0.5 0.3 October 96 26.5 9.2 3.2 4.3 6.8 49.3 0.4 0.3 November 96 22.5 10.3 0.1 3.8 5.0 12.2 45.7 0.3 December 96 24.5 9.5 2.4 5.6 13.4 44.4 0.4 January 97 22.9 22.7 0.5 7.2 6.7 39.9 0.1 February 97 26.2 22.8 7.7 1.0 42.3 0.1 March 97 34.9 14.9 8.8 0.6 40.8 0.1 April 97 24.6 13.2 22.3 3.7 36.1 0.1 AVERAGES 23.1% 14.9% 0.0% 0.8% 5.8% 3.6% 50.1% 0.4% 1.4% BCD - Certificates of Deposit - Bank BCD - Certificates of Deposit - S A L LA1 - Fidelity Treasury Pool LA2 - Managed Pool Accounts LA5 - Local Agency Investment Funds PA1 - Passbook/Checking PA2 - Cash with Trustee -First Trust PA3 - Checking/Self Help Housing Loans MfN - Medium Term Notes BAC - Bankers Acceptances CPI - Commercial Paper - Interest Bearing COM - Commercial Paper - Discount FAC - Federal Agency Issues - Coupon FAD - Federal Agency Issues - Discount TRC - Treasury Securities - Coupon TED - Treasury Securities - Discount MD1 - Treasury Securities - T-Bill 10 05/13/1997 PM - 11 PD Redevelopment Agency RDA INTEREST EARNINGS SUMMARY ACCRUAL APRIL 30, 1997 MONTH ENDING FISCAL APRIL 30, 1997 YEAR TO DATE CD/Coupon/Discount Investments: Interest Collected I 09,323.67 $ 3,164,088.44 PLUS Accrued Interest at End of Period 697,886.21 697,886.21 LESS Accrued Interest at Beginning of Period ( 547,505.87) ( 897,765.10) Interest Earned during Period $ 239,704.01 2,965,009.55 ADJUSTED by Premiums and Discounts -2,035.60 -55,358.53 ADJUSTED by Capital Gains or Losses 0.00 135,721.49 Earnings during Period 237,668.41 i 3,045,372.51 Mortgage Backed Securities: Interest Collected $ 0.00 $ 0.00 PLUS Accrued Interest at End of Period 0.00 0.00 LESS.Accrued Interestt at Beginning of Period ( 0.00) ( 0.00) Interest Earned during Period $ 0.00 0.00 ADJUSTED by Premiums and Discounts 0.00 0.00 ADJUSTED by Capital Gains or Losses 0.00 0.00 Earnings during Period 0.00 8 0.00 Cash/Checking Accounts: Interest Collected $ 294,183.95 $ 1,539,662.34 PLUS Accrued Interest at End of Period -196,411.69 -196,411.69 LESS Accrued Interest at Beginning of Period ( -35,229.47) ( -69,208.62) Interest Earned during Period $ 133,001.73 $ 1,412,459.27 TOTAL Interest Earned during Period $ 372,705.74 $ 4,377,468.82 TOTAL Ajustmente from Premiums and Discounts $ -2,035.60 $ -55,358.53 TOTAL Capital Gains or Losses $ 0.00 $ 135,721.49 TOTAL Earnings during Period f 370,670.14 $ 4,457,831.78 11 05/13/1997 RDA 8100 Million Bond FM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA APRIL 30, 1997 ACCRUAL INVESTMENT pURCBABE STATED --- YTO --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11010 I Fidelity Institutional Cash 300,965.00 300,965.00 300,965.00 5.220 5.148 5.220 1 11011 R Fidelity Institutional Cash 1,740,372.00 1,740,372.00 1,740,372.00 5.220 5.148 5.220 1 11012 E Fidelity Institutional Cash 0.00 0.00 0.00 5.210 5.139 5.210 1 11018 Fidelity Institutional Cash 1,570.00 1,570.00 1,570.00 5.220 5.148 5.220 1 11037 Fidelity Institutional Cash 29.00 29.00 29.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 2,042,936.00 2,042,936.00 2,042,936.00 5.148 5.220 1 FEDERAL AGENCY ISSUES - COUPON 15010 R Federal Rome Loan Mortgage 10/22/96 1,000,000.00 1,000,000.00 989,687.50 5.800 6.123 6.208 03/19/99 687 15011 A Federal Rome Loan Mortgage 01/09/97 1,496,770.83 1,500,000.00 1,489,587.50 6.855 6.930 7.026 01/09/02 1,714 15018 R Federal National Mortgage A 12/19/96 3,000,000.00 3,000,000.00 3,000,000.00 5.430 5.430 5.505 06/19/97 49 SUBTOTALS and AVERAGES 5,496,770.83 5,479,375.00 5,500,000.00 5.964 6.047 618 FEDERAL AGENCY ISSUES - DISCOUNT 16012 I Federal National Mortgage A 03/31/97 2,963,010.00 3,000,000.00 2,977,166.67 5.480 5.5t8 5.625 06/20/97 50 TREASURY SECURITIES - COUPON 17030 R Unites States Treasury 03/02/95 249,865.71 250,000.00 250,390.63 6.375 6.636 6.728 06/30/97 60 17055 R Unites States Treasury 05/17/96 993,316.40 1,000,000.00 990,000.00 6.250 6.359 6.447 04/30/01 1,460 17068 I Unites States Treasury 05/20/96 4,999,249.53 5,000,000.00 5,001,562.50 5.625 5.636 5.714 06/30/97 60 SUBTOTALS and AVERAGES 6,242,431.64 6,241,953.13 6,250,000.00 5.791 5.871 283 TOTAL INVESTMENTS and AVG. $ 16,745,148.47 16,741,430.80 16,792,936.00 5.726% 5.806% 317 12 05/13/1997 RDA $100 Million Bond PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH FDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS BUMMER ISSUER DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 26000 Cash with Trustee 3.49 0.000 0.000 0.000 Accrued Interest at Purchase 905.00 TOTAL CASH 0 908.49 TOTAL CASH and INVESTMENTS $ 16,746,056.96 13 05/13/1997 RDA $17.5 Million Bond PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11008 R Fidelity Institutional Cash 1,188,711.00 1,188,711.00 1,188,711.00 5.220 5.148 5.220 1 11009 I Fidelity Institutional Cash 2,258,616.00 2,258,616.00 2,258,616.00 5.220 5.148 5.220 1 11021 Fidelity Institutional Cash 44,582.00 44,582.00 44,582.00 5.220 5.148 5.220 1 11022 Fidelity Institutional Cash 67.00 67.00 67.00 5.220 5.148 5.220 1 11023 Fidelity Institutional Cash 269.00 269.00 269.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 3,492,245.00 3,492,245.00 3,492,245.00 5.148 5.220 1 TREASURY SECURITIES - COUPON 17066 R Unites States Treasury 05/17/96 397,326.56 400,000.00 396,000.00 6.250 6.359 6.447 04/30/01 1,460 TOTAL INVESThENTS and AVG. $ 3,889,571.56 3,888,245.00 3,892,245.00 5.272% 5.345% 150 14 05/13/1997 EDA $17.5 Million Bond PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH EDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOON VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 26005 Cash with Trustee 2.79 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 3,889,574.35 15 05/13/1997 RDA $24 Million Bond PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMEDNTS FDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- ITN --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11002 I Fidelity Institutional Cash 7,697,553.00 7,697,553.00 7,697,553.00 5.220 5.148 5.220 1 11003 R Fidelity Institutional Cash 16,660.00 16,660.00 16,660.00 5.22D 5.148 5.220 1 11004 E Fidelity Institutional Cash 1,178,733.00 1,178,733.00 1,178,733.00 5.220 5.148 5.220 1 11019 Fidelity Institutional Cash. 41,997.00 41,997.00 41,997.00 5.220 5.148 5.220 1 11020 Fidelity Institutional Cash 0.00 0.00 0.00 5.160 5.089 5.160 1 11029 Fidelity Institutional Cash 603.00 603.00 603.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 8,935,546.00 8,935,546.00 8,935,546.00 5.148 5.220 1 FEDERAL AGENCY ISSUES - COUPON 15014 Federal National Mortgage A 01/16/97 3,999,175.54 4,000,000.00 3,999,175.54 5.600 5.620 5.698 01/19/98 263 TREASURY SECURITIES - COUPON 17007 I Unites States Treasury 07/01/94 999,973.33 1,000,000.00 1,000,625.00 6.000 5.921 6.003 11/30/97 213 17010 R Unites States Treasury 07/01/94 698,088.73 692,000.00 697,622.50 6.750 6.165 6.251 05/31/99 760 17076 Unites States Treasury 05/30/96 800,256.15 800,000.00 800,250.00 6.125 5.640 5.718 05/31/97 30 17079 E Unites States Treasury 11/14/96 5,006,494.14 5,000,000.00 5,001,562.50 5.750 5.346 5.420 09/30/97 152 17080 E Unites States Treasury 11/14/96 5,003,077.65 5,000,000.00 5,001,562.50 6.125 5.278 5.351 05/31/97 30 SUBTOTALS and AVERAGES 12,507,890.00 12,501,622.50 12,492,000.00 5.429 5.504 134 TOTAL INVESTMENTS and AVG. $ 25,442,611.54 25,436,344.04 25,427,546.00 5.361% 5.435% 108 16 05/13/1997 RDA $24 Million Bond PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURTY DAYS NUMBER ISSUER DATE BOOK VALUE PACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 26002 Cash with Trustee 1.97 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 25,442,613.51 17 05/13/1997 RDA $4 Million Bond PM - 2 INVEST?4ERT PORTFOLIO DETAILS - INVESTMENTS RDA APRIL 30, 1997 ACCRUAL INVES17e2NT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER 1saysA DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11005 I Fidelity Institutional Cash 203,654.00 203,654.00 203,654.00 5.220 5.148 5.220 1 11006 R Fidelity Institutional Cash 16,564.00 16,564.00 16,564.00 5.220 5.148 5.220 1 11025 Fidelity Institutional Cash 28,474.00 28,474.00 28,474.00 5.220 5.148 5.220 1 11026 Fidelity Institutional Cash 65.00 65.00 65.00 5.220 5.148 5.220 1 11027 E Fidelity Institutional Cash 227,572.00 227,572.00 227,572.00 5.220 5.1E8 5.220 1 11028 Fidelity Institutional Cash 16.00 16.00 16.00 5.210 5.139 5.210 1 SUBTOTALS and AVERAGES 476,345.00 476,345.00 476,345.00 5.148 5.220 1 FEDERAL AGENCY ISSUES - COUPON 15005 E Federal Howe Loan Bank 06/14/95 2,117,816.62 2,115,000.00 2,116,321.88 6.105 5.855 5.937 12/01/97 214 TREASURY SECURITIES - COUPON 17012 I Unites States Treasury 07/01/95 1,300,968.32 1,300,000.00 1,302,031.25 6.375 5.807 5.887 06/30/97 60 17013 R Unites States Treasury 07/01/95 107,629.06 104,000.00 107,250.00 7.750 6.098 6.182 11/30/99 943 17015 B Unites states Treasury 07/01/95 231,339.56 231,000.00 231,146.38 6.000 5.645 5.724 11/30/97 213 SUBTOTALS and AVERAGES 1,639,936.94 1,640,425.63 1,635,000.00 5.803 5.884 140 TOTAL INVESTMENTS and AVG. $ 4,234,098.56 4,233,092.51 4,226,345.00 5.755% 5.835% 161 18 05/13/1997 RDA to Million Bond PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- VTR --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARALT VALUE BATH 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 26003 Cash with Trustee 4.40 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 4,234,102.96 19 05/13/1997 Low Mod Set-aside Refunding PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 CATE TO MAT FIDELITY TREASURY POOL 11030 R Fidelity Institutional Cash 334,052.00 334,052.00 334,052.00 5.220 5.148 5.220 1 11031 Fidelity Institutional Cash 21,249.00 21,249.00 21,249.00 5.220 5.148 5.220 1 11032 Fidelity Institutional Cash 0.00 0.00 0.00 5.150 5.079 5.150 1 11040 Fidelity Institutional Cash 175.00 175.00 175.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 355,476.00 355,476.00 355,476.00 5.148 5.220 1 FEDERAL AGENCY ISSUES - COUPON 15012 R Federal Haw Loan Mortgage 01/09/97 299,354.17 300,000.00 297,937.50 6.855 6.930 7.026 01/09/02 1,714 TOTAL INVESTMENTS and AVG. $ 654,830.17 653,413.50 655,476.00 5.9639 6.0469 784 20 05/13/1997 Low Mod Set-aside Refunding PM - 3 INVESThEWr PORTFOLIO DETAILS - CASH RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 26004 Cash with Trustee 1.69 0.000 0.000 0.000 TOTAL CASH end INVESTMENTS 6 654,831.86 21 05/13/1997 1996 Desert Rose Series A PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATUR'TY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11046 Fidelity Institutional Cash 3,774.00 3,774.00 3,774.00 5.220 5.168 5.220 1 11047 Fidelity institutional Cash 122,890.00 122,890.00 122,890.00 5.220 5.148 5.220 1 11048 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 11053 Fidelity Institutional Cash' 966,197.00 966,197.00 966,197.00 5.220 5.148 5.220 1 11054 Fidelity Institutional Cash 93,027.00 93,027.00 93,027.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 1,185,888.00 1,185,888.00 1,185,888.00 5.148 5.220 1 TREASURY SECURITIES - COUPON 17078 R Unites States Treasury 10/03/96 999,818.11 1,000,000.00 999,375.00 5.625 5.580 5.658 10/31/97 183 TOTAL INVESTMENTS and AVG. $ 2,185,706.11 2,185,263.00 2,185,888.00 5.346% 5.420% 84 22 05/13/1997 1996 Desert Rose Series A PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- PTA --- MATURITY DAYS NUMBER ISSUER DATE ACM VALUE PACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 26008 Cash with Trustee 5.25 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 2,185,711.36 23 05/13/1997 1996 Desert Rose series H PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS FDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11049 Fidelity Institutional Cash 9,301.00 9,301.00 9,301.00 5.220 5.148 5.220 1 11050 Fidelity Institutional Cash 38,891.00 38,891.00 38,891.00 5.220 5.148 5.220 1 11051 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 11052 Fidelity Institutional Cash 2,760,922.00 2,760,922.00 2,760,922.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 2,809,114.00 2,809,114.00 2,809,114.00 5.148 5.220 1 FEDERAL AGENCY ISSUES - COUPON 15016 Federal Farm Credit 02/24/97 1,499,288.44 1,500,000.00 1,499,288.44 5.400 5.472 5.548 12/02/97 215 15009 H Federal Home Loan Bank 10/03/96 798,320.46 600,000.00 792,250.00 6.425 6.480 6.570 08/20/01 1,572 15015 Federal Home Loan Bank 02/24/97 999,764.48 1,000,000.00 999,764.48 5.400 5.430 5.506 11/26/97 209 SUBTOTALS and AVERAGES 3,297,381.38 3,291,302.92 3,300,000.00 5.703 5.783 542 TOTAL INVESTMENTS and AVG. S 6,106,495.38 6,100,416.92 6,109,114.00 5.448% 5.524% 293 24 05/13/1997 1996 Desert Rose Series B PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH PEA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED ___ Y 4 _-_ MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARRED VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 26009 Cash with Trustee 1.82 0.000 0.000 0.000 Accrued Interest at Purchase 31,650.00 TOTAL CASH 8 31,651.82 TOTAL CASH and INVESTMENTS 8 6,138,147.20 25 05/13/1997 Blythe County Court Adnin Ctr PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11038 Fidelity Institutional Cash 649.00 649.00 649.00 5.220 5.148 5.220 1 11039 R Fidelity Institutional Cash 41,646.91 41,646.91 41,646.91 5.220 5.148 5.220 1 11041 I Fidelity Institutional Cash 248,142.00 248,142.00 248,142.00 5.220 5.148 5.220 1 11042 Fidelity Institutional Cash 12.00 12.00 12.00 5.260 5.188 5.260 1 11044 Fidelity Institutional Cash 13,349.00 13,349.00 13,349.00 5.220 5.148 5.220 1 SUBTOTALS and AVERAGES 303,798.91 303,798.91 303,798.91 5.148 5.220 1 FEDERAL AGENCY ISSUES - COUPON 15008 R Federal Farm Credit 09/13/96 498,929.60 500,000.00 499,843.75 6.125 6.312 6.400 07/09/98 434 TREASURY SECURITIES - T-BILL 18021 Unites States Treasury 08/13/96 70,163.41 74,000.00 73,115.69 5.410 5.637 5.715 07/24/97 84 TOTAL INVESTMENTS and_AV0._ $ 872,891.92 876,758.35 877,798.91 5.853% 5.934% 255 26 05/13/1997 Blythe County Court Adman Ctr PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH FDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE PACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH KITH TRUSTEE -FIRST TRUST 26007 Cash with Trustee 2.64 0.000 0.000 0.000 TOTAL CASE and INVESTMENTS S 872,694.56 27 05/13/1997 Palm Desert Office Complex P14 - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA APRIL 30, 1997 ACCRUAL INVEsINANT PURCHASE STATED --- DIN --- MATDR=TY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT PASSBOOX/CHECKING 25000 Bank of America-Chocking 137,775.28 0.000 0.000 0.000 25001 Bank of America-Savings 22,616.54 2.000 1.973 2.000 SUBTOTALS and AVERAGES 160,391.82 0.278 0.282 TOTAL CASH and INVESTMENTS S 160,391.82 28 05/13/1997 Redevelopment Agency - General PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE HOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT L0047 AGENCY INVESTMENT FUNDS 21000 Local Agency Investment Fun 10,489,223.44 10,489,223.44 10,489,223.44 5.560 5.484 5.560 1 21001 Local Agency Investment Fun 0.00 0.00 0.00 5.587 5.510 5.587 1 SUBTOTALS and AVERAGES 10,489,223.44 10,489,223.44 10,489,223.44 5.484 5.560 1 FEDERAL AGENCY ISSUES - COUPON 15013 Federal Home Loan Bank 04/21/97 2,000,000.00 2,000,000.00 2,006,960.00 7.000 6.998 7.095 04/21/00 1,086 TREASURY SECURITIES - COUPON 17069 Unites States Treasury 05/24/96 2,002,316.01 2,000,000.00 2,003,750.00 6.125 5.905 5.987 03/31/98 334 17071 Unites States Treasury 05/24/96 1,000,229.86 1,000,000.00 1,000,937.50 5.875 5.691 5.770 07/31/97 91 17072 Unites States Treasury 05/24/96 999,663.46 1,000,000.00 1,000,312.50 5.750 5.749 5.828 09/30/97 152 17077 Unites States Treasury 05/30/96 993,037.80 1,000,000.00 993,437.50 5.000 5.900 5.982 01/31/98 275 17083 Unites States Treasury 03/21/97 1,959,562.46 2,000,000.00 1,958,125.00 5.000 6.124 6.209 02/15/99 655 SUBTOTALS and AVERAGES 6,954,809.59 - 6,956,562.50 7,000,000.00 5.913 5.995 355 TOTAL INVESTMENTS and AVG. S 19,444,033.03 19,452,745.94 19,409,223.44 5.793% 5.873% 239 29 05/13/1997 Redevelopment Agency - General PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 26006 Cash with Trustee 0.01 - 0.000 0.000 0.000 Accrued Interest at Purchase 9,392.27 TOTAL CASH $ 9,392.28 TOTAL CASH and INVESTMENTS S 19,453,425.31 30 05/13/1997 Self Help Checking PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA APRIL 30, 1997 ACCRUP.L INVESTMENT PURCHASE STATED --- ITM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT PASSBOOK/CHECKING 25002 H of A - Self Help Checking 22,802.80 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS f 22,802.80 31 05/13/1997 Desert Willow (Pamper) PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA APRIL 30, 1997 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT PASSBOOK/CHECKING 25008 Bank of Amarioa-Chocking 701,006.48 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS 8 701,006.48 32 Ili b s .c 9 111111 ue D I I P b I rsa P R O' N N �Ny �Nu y N N yN! y y� y �Ny yy7 yN! yN� y y� y N y N y y yy� y N1 N y N w I 0 W Y T Y Y > Y ) Y Y T > 7 > T ) > > > y > c > Y > J_ Q p� < p�p < oo� < U Q p�p < U Q p� 6 < Q Q Q p�p Q qq� Q p� y t~p8 N6 Nd u~1 fd6 f~i1 H6 0 w w r: N6 Nd u~, 2 U W 11 Eli if, ni. fillk4111 liais 1 1 P l i 01 la 'h iir , 4, i V Luo, , . . . 42- i i lb 1 1g 9 L_,J. i 8 8 8 '" k E3I ,,,, 7,, t 4 Ihb g _it + C S 0 2 g ti I I I I 1111 i ii i i " I i I - g t . ,§ t o3 _E a F w ifE LL u tl) Ol a 1 a12 V 1 I _ i. \ I$ k o0 P P 0 o E s r 6 u O1 9 Q : i: J A\ m m m a iF i, m � mpg K E o o o .. ,. _ .. „ 'n s z 5 o. ° E a " E se ¢' a E Tfa, y�s o se a se 0 8 �y o 0 w°n°x -_- r O 8 z is 0 w�*b 8 O16m # m wz an 0 8 0 0 0E. 8 e z o 0 0 o a a ❑ w_ 0 m m tt a e De a F l a SWIMS 6 0 0 0 0 o a re lu LIz cs a ..... .. _... ._... a om0NNCO0OF OD o0 - ', e NOON ( g O V co — misampa"-?2 u V 0�p 0q6 (�pp ems+ o O `W N s W 2 O E a d, a '',Toan l a m c in — N W W — r 0 ea to w, e. 4 ovoo � N (0 to 2 O moo 'tomvn ,00 �p m O COONO 10 f0 O E `'3P I"- V N WNO " fo fl (0N I Ilh c i9 vs i9 w w —' o o .,' o �'*" z e c yr rq, 5. + + X o .- o0NlN- v MuLi,, r r o :,: g mra:e ",""` 'eB' CO O N pp C1 Cl N C7 CO LL �. 5 1 afi ai. ,7 r- m m W N O N to co N ' N a t& '"R's1NSM r f) o co 00 NO1- _ a 0) N N0 . copO o N o 3 i Tom`.,.-40. .Y' W (O If) CO m I"- OE IO in v *5 n vc}.0 iw a ' o tD W of, O O : .y:a" iky %y f" v "' CO i9 `9 w r» w ' tea* s a 0 ,^ i7C6�A�J2V m 2 ci a `; q m is vain . tax. + ' C c a a a44 '"4- 0 p 0_ U m ' O 0 0 oo a' W O O c 'I.: E. Z` >. >, o 5 a a ' o . : w g —, , O d m of of U co °i r m w ti o H < < a, zA o > i t Z' EION NN > 7.1y N C 6 TO;O LL 'O O "O rig O0 N N 0 MINIS 2 0. HILL a o LL LL F F 161 u $ _ if $ se o STATE OF CALIFORNIA MATT FONG,Treasurer OFFICE OF THE TREASURER � t2 SACRAMENTO .44 LOCAL AGENCY INVESTMENT FUND P.O. BOX 942809 Date: 03/31/97 SACRAMENTO, CA 94209-0001 Page: 01 MARCH, 1997 STATEMENT ACCOUNT NUMBER: 98-33-621 CITY OF PALM DESERT ATTN: CITY TREASURER 73510 FRED WARING DRIVE PALM DESERT CA 92260 EFFECTIVE TRANSACTION TRAN CONF AUTH TRANSACTION DATE DATE TYPE NO CALLER AMOUNT BALANCE BEGINNING BALANCE - REG $13, 220, 335 . 55 03/03/97 03/03/97 RD 727 JER $2, 000, 000 . 00 $15, 220, 335 . 55 03/14/97 03/14/97 RD 728 JER $1, 800, 000 . 00 $17 , 020, 335 . 55 03/21/97 03/20/97 RW 729 JER -$1 , 970, 000 . 00 $15, 050, 335 .55 03/25/97 03/25/97 RW 730 JER -$200, 000 . 00 $14, 850, 335 . 55 03/27/97 03/27/97 RD 731 JER $1, 000, 000 . 00 $15, 850, 335 .55 ENDING BALANCE - REG $15, 850 , 335 .55 GRAND TOTAL $15, 850, 335 .55 SUMMARY TRAN COUNT TOTAL DEPOSIT AMT TOTAL WITHDRAWAL AMT REG 5 $4, 800, 000 . 00 -$2, 170, 000 . 00 136 T1 LIU 6Z 'dJU Lb, IUJ1tL JY�3a 3Jf.';', .L'LY {QV9lV4JJ il.i cc.: Jean 12L1� STATE OF CALIFORNIA MATT FONG.Treasurer OFFICE OF THE TREASURER SACRAMENTO -I LOCAL AGENCY INVESTMENT FUND P.O. BOX 942809 Date: 03/31/97 SACRAMENTO, CA 94209-0001 Page: 01 MARCH, 1997 STATEMENT ACCOUNT NUMBER: 65-33-015 PALM DESERT REDEVELOPMENT AGENCY ATTN: PAUL GIBSON, TREASURER 73-510 FRED WARING DRIVE PALM DESERT CA 92260 EFFECTIVE TRANSACTION TRAN CONF AUTH TRANSACTION DATE DATE TYPE NO CALLER AMOUNT BALANCE BEGINNING BALANCE - REG $18, 432, 618 . 10 03/06/97 03/06/97 RW 722 PSG -$3, 100, 000 . 00 $15, 332 , 616 . 10 03/21/97 03/20/97 RW 723 JER -$1, 970, 000 . 00 $13, 362 , 618 . 10 03/25/97 03/25/97 RW 724 JER -$2 , 860, 000 . 00 $10, 502, 618 . 10 ENDING BALANCE - REG $10,502, 618 . 10 GRAND TOTAL $10, 502, 618 . 10 SUMMARY TRAN COUNT TOTAL DEPOSIT AMT TOTAL WITHDRAWAL AMT REG 3 $0 . 00 -$7 , 930, 000 .00 CC \ bin / A.CHI State of California Pooled Money Investment Account Market Valuation 3/31/97 Description Carrying Cost Plus Estimated Accrued Interest Purch. Market Value Accrued Interest United States Treasury: Bills $ 1,333,938,902.13 $ 1,374,177,400.00 NA Strips $ 121,604,450.00 $ 146,651,250.00 NA Notes $ 5,889,663,174.03_ $ 5,812,403,150.00 $ 58,918,366.58 Federal Agency: Bonds $ 958,734,586.31 $ 952,468,535.60 $ 12,932,918.45 Floaters $ 319,979,989.05 $ 320,123,850.00 $ 2,474,147.25 MBS $ 158,028,968.90 $ 151,912,158.63 $ 933,576.81 GNMA $ 3,171,767.00 $ 3,535,274.77 $ 30,564.21 SBA $ 205,281,379.65 $ 207,506,129.61 $ 2,049,760.54 FHLMC PC $ 30,237,323.95 $ 32,296,695.17 $ 485,640.57 Discount Notes $ 237,864,000.00 $ 246,727,500.00 NA Bankers Acceptances $ 233,253,250.05 $ 233,925,240.88 NA Corporate: Bonds $ 1,500,690,589.65 $ 1,493,001,576.29 $ 23,723,921.40 Floaters $ 500,580,693.98 $ 500,592,120.00 $ 5,610,303.93 CDs $ 6,758,690,245.25 $ 6,752,823,717.76 $ 50,362,389.46 Bank Notes $ 506,002,556.84 $ 505,533,022.40 $ 9,387,660.00 Repurchase Agreements $ 40,000,000.00 $ 40,000,000.00 NA Time Deposits $ 496,795,000.00 $ 496,795,000.00 NA AB 55 & GF Loans $ 2,529,222,333.00 $ 2,529,222,333.00 NA Commercial Paper $ 6,434,908,406.04 $ 6,460,779,556.50 NA Reverse Repurchase $ (149,250,000.00) $ (149,250,000.00) $ (657,632.81) TOTAL $ 28,109,397,615.83 $ 28,111,224,510.62 $ 166,251,616.40 Estimated Market Value Including Accrued Interest $ 28,277,476,127.01 Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). Certificates of Deposit (CDs), Bank Notes (BNs), and Commercial Paper (CPs)less than 90 days are carried at portfolio book value (carrying cost). Interest accrued from the date of purchase on CDs and BNs under 90 days is not included. NO 0 C) f) CD D -+ 21 ,1• P. v + z 0 ?! 3 z u 0 °° CO < c 0ca a � v m 'C go O r 0 o a en eD M d 7 IC 0 V A LE O g O CI d + C C 1 ep fe N N AOt a t071 full OI a WO e W .a '" C ma ' wCO ha 14 t us • a a A moo oa = eo a. W n w w « w M w M e13 . A w Wa I d a N a CO N to V Owi M/a:� :.' a al 00 mc a 01 O co O a N O S ! X W •* N C 3 w M M 'A in= J __ Q Al 0/ N N C aO e44 00 A W CO s O N o e W N i : ; : ; : N J .4 ' 'ill E N o g a co to 5 CCO A O O y N N N N M N '. C N V J to O O 01 J O 40 N b4 = O C 0 GI 0 CO ti oa ti 0 H W 6 :e.g. N M N N N r -* D O _ ... Nes A 0 CO O N O . O_ l e l M V. M M M 3 a N Z J J i 6 t V -CON v en o a a ea a �o N N M N N TI 13 .a V O w w m O P its '1 a U N end ^1 ' a e 3 M « M O W N ' A CaA mom . cs in- o a a te N N M N a w 3 Oo a N a p A cn cc o A a s a D n N N 4$ tl1 0 a c 0 O PALM DESERT REDEVELOPMENT r._ .NCY COMBINED STATEMENT OF ACTUAL REVENUES&EXPENDITURES COMPARED TO BUDGET APRIL 30,1997 RDA RDA %of (FAV)UNFAV Budget YTD Budget Actual YTD Budget Variance REVENUES 7 Tax increment• 30,589,300.00 16,895,160.00 12,069,514.80 71.44% 4,825,645.20 1 Interest 1,964,000.00 1,636,666.67 4,067,243.76 248.51% (2,430,577.09) 2 Sales of Property 0.00 0.00 3,910,391.00 100.00% (3,910,391.00) 3 Reimbursement From Other Agencies 658,000.00 548,333.33 826,595.89 150.75% (278,262.56) Other Revenue 304,000.00 253,333.33 108,388.52 42.78% 144,944.81 TOTAL REVENUES 33,515,300.00 19,333,493.33 20,982.133.97 108.53% (1,648,640.64) FAV(UNFAV) EXPENDITURES Variance Administrative Costs 733,400.00 611,166.67 555,614.28 90.91% 55,552.39 Professional Services 3,049,892.00 2,541,576.67 939,648.87 36.97% 1,601,927.80 Property Tax Administrative Fee 559,000.00 465,833.33 428,360.00 91.96% 37,473.33 2 Cost of Inventory Sold 0.00 0.00 3,285,000.00 100.00% (3,285,000.00) Capital Outlay Deep Canyon Rd&Hwy 111 1,232,481.00 1,013,426.00 813,623.98 80.28% 199,802.02 El Paseo/Highway 74 7,719.00 6,430.00 0.00 0.00% 6,430.00 Super Block III-Landscaping 60,000.00 49,095.00 0.00 0.00% 49,095.00 Storm Channel 292,787.00 250,870.00 292,786.00 116.71% (41,916.00) Full Cell Project 100,000.00 71,430.00 41,812.34 58.54% 29,617.66 Desert Crossing Public Improv. 90,409.00 75,340.83 0.00 0.00% 75,340.83 Library 309,254.00 253,110.00 5,333.54 2.11% 247,776.46 Golf Course-Project Area#1 8,001,478.00 6,546,663.00 0.00 0.00% 6,546,663.00 Cook Street Sports Complex 397,125.00 324,918.00 15,163.86 4.67% 309,754.14 Golf Course-Project Area#2 29,380,147.00 24,347,039.00 13,586,197.22 55.80% 10,760,841.78 Project Area#3 Capital Project 250,000.00 204,543.00 0.00 0.00% 204,543.00 Hovely Street Improvements 0.00 0.00 0.00 0.00% 0.00 Land Purchases 0.00 0.00 3,775,838.19 100.00% (3,775,838.19) Housing Subsidies 4 AHA Housing Subsidies 4,315,000.00 3,595,833.33 1,934,785.00 53.81% 1,661.048.33 Desert Rose Subsidies 6,966,000.00 5,805,000.00 2,150,936.70 37.05% 3,654,063.30 Decline in Value on Inventory Held For Resale 0.00 0.00 0.00 0.00% 0.00 Payments to Other Governmental Agencies 7,382,000.00 6,151,666.67 1,178,211.32 19.15% 4,973,455.35 5 Bond Issuance Costs 0.00 0.00 444,776.59 100.00% (444,776.59) 5 Bond Discount 0.00 0.00 293,575.05 100.00% (293,575.05) Interest And Fiscal Charges 10,323,000.00 8,602,500.00 9,112,720.49 105.93% (510,220.49) 6 Principal Payments 2,370,000.00 1,975,000.00 6,285,000.00 318.23% (4,310,000.00) TOTAL EXPENDITURES 75,819,692.00 62,891,441.50 45,139,383.43 71.77% 17,752,058.07 •TAX INCREMENT REVENUE ARE USED TO PAY DEBT SERVICE PAYMENTS. PALM DESERT REDEVELOPMENT AGENCY EXPLANATION OF VARIANCES 1. DUE TO THE HIRING OF AN INVESTMENT MANAGER AND NEW INVESTMENT PRACTICES. 2. UNANTICIPATED SALES OF LOTS AT DESERT ROSE. PROJECT WAS TAKEN OVER AFTER THE ANNUAL BUDGET WAS FINALIZED. 3. DUE TO THE TRANSFER OF THE AHMANSON DDIA TRUST TO COVER PARKING THAT IS NO LONGER AN OBLIGATION. 4. PAYMENTS ARE BEING HELD UNTIL AUDIT FINDINGS ARE RESOLVED. 5. UNANTICIPATED ISSUANCES OF NEW BOND FOR DESERT ROSE PROJECT. 6. UNANTICIPATED BOND CALLS FOR DESERT ROSE BONDS. 7. LOW/MOD 20% SET ASIDE HAS NOT BEEN RECORDED. C o 0.0 F .0 W Q as a+ i i ^Q gp x U a ° 7 O 0 tbG # ..ayy 6. 3 'I 0dW pa fl 61 ie+1 Ceea) E 0\ T°o � OO QWa vl O 00 . —bn0 :i V^ ! W a ry Tt) Ns en lM.9 if) C '1 t' r w .. 7 1/40 M r• N O, F wM fl b - - V - vi v rn r o0 00 7 �3., ', • M 7 N cO q i a F U N V 3 at k 2. +No� " aa " r NNN Q1/4Q ao! V V eq a Ru E "tigt v d N^ eq r N inrr o. y 0 re N Q —I 5 .= = V ^N V "' W 6 MI' S"1wt y t OD 0. 0 co _ Q Q !' o Q O N 'C M 00 M \O N Q 7 I—w U iL1 [� v v M N ^" E ai 4,0 Q W i NU +� A >, 'n ► n c. d qw O� FW - W-.vF q W v� PALM DESERT OFFICE COMPLEX FINANCIAL STATEMENTS MARCH 31, 1997 OSCAR G. ARM] 0 GA Certified Public Accountant 74-133 EL PASEO,SUITE 8 • PALM DESERT, CALIFORNIA 92260 • (760) 773-4078 • FAX(760) 773-4079 May 8, 1997 ,Palm Desert Office Complex Palm Desert, California I have compiled the accompanying balance sheet of Palm Desert Office Complex, as of March 31, 1997, and the related income statement and statement of cash flows for the nine months then ended, in accordance with statements on standards for accounting and review services issued by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of financial statements information that is the representation of management. I have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or any other form of assurance on them. Management has elected to omit substantially all of the disclosures required by generally accepted accounting principles. If the omitted disclosures were included in the financial statements, they might influence the user's conclusions about the organization's financial position,results of operations and cash flows. Accordingly, these financial statements are not designed for those who are not informed about such matters. Sincerely, Oscar G. Armijo Certified Public Accountant MEMBER MEMBER California Society of American Institute of Certified Public Accountants Certified Public Accountants Palm Desert Office Complex Balance Sheet March 31, 1997 Assets Current Assets Cash in Bank-Reserve Account $ 34, 640. 13 Cash in Bank 103,135. 15 Cash in Bank -Security Deposit 22,616. 54 Total Current Assets $ 160, 391.82 Fixed Assets Building 444 2, 585, 000. 00 Accumulated Depreciation (88, 376. 00) Building 555 1, 085, 000. 00 Accumulated Depreciation (37,092 .80) Building Improvements-Bldg 444 84,295. 02 Accumulated Depreciation (4, 121. 01) Total Fixed Assets 3, 624,705.21 Total Assets $ 3 , 785, 097. 03 See Accountants' Compilation Report Palm Desert Office Complex Balance Sheet March 31, 1997 Liabilities and Equity Current Liabilities Security Deposit Payable $ 19, 900. 00 Loan Payable-City of Palm Dsrt 40, 000. 00 Total Current Liabilities $ 59,900.00 Long Term Liabilities Equity Equity 3, 183,885.45 Retained Earnings 282, 049 .21 Current Income (Loss) 259,262 . 37 Total Equity 3,725, 197. 03 Total Liabilities & Equity $ 3 ,785, 097. 03 See Accountants' Compilation Report Palm Desert Office Complex Income statement For the Period Ended March 31, 1997 1 Month Ended 9 Months Ended Mar. 31, 1997 Pct Mar. 31, 1997 Pct Revenue Rent Receipts $ 74, 129.88 99.43 $ 564,729. 67 99.45 Interest Income-Security 15.42 0. 02 170.44 0. 03 Interest Income-General 408. 65 0. 55 2, 977.63 0.52 Total Revenue 74,553 .95 100.00 567,877.74 100. 00 Operating Expenses Commissions 0. 00 0. 00 2,434.08 0.43 Insurance 0. 00 0. 00 4,280.00 0.75 Legal 0. 00 0. 00 50.75 0. 01 Repairs & Maintenance-Di 455.57 0. 61 4, 366.77 0.77 Repairs & Maintenance-Bu 993 .75 1.33 77, 227.20 13. 60 Repairs & Maintenance-Ja 5,750. 00 7.71 28, 085. 15 4 .95 Landscaping 500.00 0. 67 8,674.90 1.53 Professional Services 3 ,000.00 4 . 02 66,550. 00 11.72 Repairs and Maintenance 0.00 0. 00 494. 08 0.09 Telephone 142.90 0. 19 1,751. 73 0.31 Security 0. 00 0.00 535.00 0.09 Utilities 2 , 383 .75 3.20 39,468.50 �6.95 Total Expenses 13 ,225.97 17.74 233 , 918. 16 41. 19 Operating Income 61, 327.98 82.26 333 ,959. 58 58.81 Depreciation Expense 8,299. 69 11. 13 74, 697.21 13.15 Total Other Income (8,299. 69) ( 11.13) (74, 697.21) ( 13 .15) Net Income (Loss) $ 53 , 028.29 71. 13 $ 259,262 . 37 45.65 See Accountants' Compilation Report Palm Desert Office Complex Statement of Cash Flows For the Period Ended March 31, 1997 Increase (Decrease) in Cash or Cash Equivalents 1 Month Ended 9 Months Ended Mar. 31, 1997 Mar. 31, 1997 Cash Flow from Operating Activities Net Income (Loss) $ 53, 028.29 $ 259,262.37 Adjustments to Reconcile Cash Flow Depreciation 8,299. 69 74,697.21 Decrease (Increase) in Current Assets Increase (Decrease) in Current Liabilities Security Deposit Payable 0.00 (5,700. 00) Loan Payable-City of Palm Desert 40, 000. 00 Deferred Revenue 0.00 (1,500. 00) Total Adjustments 8,299.69 107,497 .21 Cash Provided (Used) by Operations 61,327.98 366,759.58 Cash Flow From Investing Activities Sales (Purchases) of Assets Building Improvements 0.00 (19, 143 . 00) Cash Provided (Used) by Investing 0.00 (19, 143 . 00) Cash Flow From Financing Activities Cash (Used) or provided by: Equity 0. 00 (486,114.55) Retained Earnings 0.00 0. 00 Cash Provided (Used) by Financing 0. 00 (486, 114.55) Net Increase (Decrease) in Cash 61, 327. 98 (138,497.97) Cash at Beginning of Period 99, 063 .84 298,889.79 Cash at End of Period $ 160,391.82 $ 160, 391.82 See Accountants' Compilation Report THE MCCALLUM THEATRE 97/96 BUDGET BUDGET ACTUAL TO DESCRIPTION 3/31/97 & BUDGET 96/97 4 MOS PROJ 97/98 PERFORMANCE REVENUE 63,299,920 $3,252,266 $3,535,000 OTHER PERFORMANCE REVENUE 93,550 75,048 95,000 TOTAL 3,393,470 3,327,314 3,630,000 LESS: PERFORMANCE COSTS 3,282,237 3,482,043 3,425,000 NET INCOME FROM PERFORMANCES 111,233 (154,729) 205,000 RENTAL REVENUE 475,000 529,470 LESS: RENTAL COSTS 100,000 NET RENTAL INCOME 5,500 78,750 00,000 5 315,500 450.720 00,000 / MISC REVENUE 36,100 51,671 55,000 OPERATING INCOME 462,833 347,662 760,000 FIXED EXPENSES 1,341,100 1,409,465 1,425,000 GENERAL&ADMINISTRATIVE 831,120 671,747 690,000 TOTAL OVERHEAD EXPENSES 1,972,220 2,081,212 2,115,000 OUTREACH(EDUCATION) 70,050 13,712 100,000 TOTAL FIXED/OVERHEAD EXPENSES 2,042,270 2,094,924 2,215,000 PROFIT(LOSS) BEFORE DEVELOPMENT (1,579,437) (1,747,262) (1,455,000) DEVELOPMENT REVENUE 1,300,000 1,452,678 1,730,000 DEVELOPMENT EXPENSE 319,799 293,632 440,000 NET DEVELOPMENT REVENUE 980,201 1,159,046 1,290,000 NET INCOME(LOSS) W/O EXTRAORDINARY (599,2361 (588,216) (165,000) EXPENSES AND ACCRUAL ADJUSTMENTS EXTRAORDINARY EXPENSE 0 (18,656) 0 IN-KIND DONATIONS 0 91,500 0 DEVELOPMENT ACCRUAL ADJUSTMENTS: DEVELOPMENT PAYMENTS FOR PRIOR YEAR PLEDGE 0 (147,333) (170,000) NEW PLEDGES 0 255,000 255,000 PRIOR YEAR UNEARNED MUSES REVENUE 0 45,100 0 TOTAL 0 152,767 85,000 NET INCOME(LOSS) W/O DEPRECIATION (599,2361 (362,6 (80,000) ADDITIONAL ALLOWANCES: DEPRECIATION (590,004) (590,004) (590,004) NECESSARY CAPITAL EQUIPMENT ACQUISITIONS 0 0 (YEAR PROJ TO BE 9125,000 IF CASH AVAILABLE) " NOTE: DEVELOPMENT EXPENSES ARE HIGHER IN ANTICIPATION OF TENTH ANNIVERSARY ACTIVITIES. IT IS ANTICIPATED THAT DEVELOPMENT REVENUE WILL MOST LIKELY BE HIGHER THAN BUDGETED City Of Palm Desert Desert Willows Golf Course Budget Vs.Actual For the Month of April 1997 Apr-97 Apr-97 $Variance %Var YTO YTD $Variance %Var Revenue Budgeted Actual Current Current Budget Actual YTD YTD Golf Course Fee $323,284 $226,899 ($96,385) 70.19% $810,766 $741,932 ($68,834) 91.51% Cart Fee $1,960 $2,160 $200 110.20% $4,760 $3,260 ($1,500) 68.49% Pro Shop $41,240 $36,448 ($4,792) 88.38% $99,920 $81,382 ($18,538) 81.45% Range $6,225 $6,712 $487 107.82% $15,051 $8,329 ($6,722) 55.34% Food&Beverages $18,675 $14,880 ($3,795) 79.68% $45,151 $44,385 ($766) 98.30% Other Revenue $100 $786 $686 786.00% $200 $1,151 $951 575.50% Total $391,484 $287,885 ($103,599) 73.54% $975,847 $880,439 ($95,408) 90.22% Expenditures Salaries and Benefits $104,094 $101,770 $2,324 97.77% $263,963 $266,101 ($2,138) 100.81% Golf Course Maintenance $25,866 $47,112 ($21,246) 182.14% $54,709 $92,563 ($37,854) 169.19% Cart Expenses $9,208 $9,058 $150 98.37% $15,763 $16,530 ($767) 104.87% Pro Shop Expenses $1,490 $5,168 ($3,678) 346.85% $3,030 $8,563 ($5,533) 282.61% Pro Golf Shop Cost of Goods Sold $23,904 $15,317 $8,587 64.08% $57,792 $40,244 $17,548 69.64% Range Expenses $100 $280 ($180) 280.00% $250 $280 ($30) 112.00% Food&Bev.Expenses $1,070 $1,642 ($572) 153.46% $3,052 $4,746 ($1,694) 155.50% Food&Bev.Cost of Goods Sold $7,470 $7,458 $12 99.84% $18,060 $19,079 ($1,019) 105.64% General&Administration Expenses $46,464 $38,412 $8,052 82.67% $111,838 $74,091 $37,747 66.25% Management Fee $12,500 $12,500 $0 100.00% $31,250 $31,250 $0 100.00% Property Taxes $0 $0 $0 0.00% $0 $0 $0 0.00% Interest Expense $0 $0 $0 0.00% $0 $0 $0 0.00% Capital Expenses $0 $0 $0 0.00% $0 $0 $0 0.00% Total $232,166 $238,717 ($6,551) 102.82% $559,707 $553,447 $6,260 98.88%0 Net Profit(Loss) $159,318 $49,168 3416,140 $326,992 City Of Palm Desert Desert Willows Golf Course Month Income Statement Budgeted&Actual Fiscal Year 1996-1997 Feb-97 Mar-97 Apr-97 May-97 Jun-97 Total Revenue Actual Actual Actual Actual Actual Actual Golf Course Fee $143,439 $371,594 $226,899 $0 $0 $741,932 Cart Fee $900 $200 $2,160 $0 $0 $3,260 Pro Shop $14,154 $30,780 $36,448 $0 $0 $81,382 Range $741 $876 $6,712 $0 $0 $8,329 Food&Beverages $7,648 $21,857 $14,880 $0 $0 $44,385 Other Revenue $4,165 ($3,800) $786 $0 $0 $1,151 Total $171,047 $421,507 $287,885 $0 $0 $880,439 Expenditures Salaries and Benefits $49,687 $114,644 $101,770 $0 $0 $266,101 Golf Course Maintenance $10,827 $34,624 $47,112 $0 $0 $92,563 Cart Expenses $351 $7,121 $9,058 $0 $0 $16,530 Pro Shop Expenses $2,091 $1,304 $5,168 $0 $0 $8,563 Pro Golf Shop Cost of Goods Sold $7,820 $17,107 $15,317 $0 $0 $40,244 Range Expenses $0 $0 $280 $0 $0 $280 Food&Bev. Expenses $912 $2,192 $1,642 $0 $0 $4,746 Food&Bev.Cost of Goods Sold $4,049 $7,572 $7,458 $0 $0 $19,079 General&Administration Expenses $9,477 $26,202 $38,412 $0 $0 $74,091 Management Fee $6,250 $12,500 $12,500 $0 $0 $31,250 Property Taxes $0 $0 $0 $0 $0 $0 Interest Expense $0 $0 $0 $0 $0 $0 Capital Expenses $0 $0 $0 $0 $0 $0 Total $91,464 $223,266 $238,717 $0 $0 $553,447 Net Profit(Loss) $79,583 $198,241 $49,168 $0 $0 $326,992 Feb-97 Mar-97 Apr-97 May-97 Jun-97 Total Revenue Budgeted Budgeted Budgeted Budgeted Budgeted Budgeted Golf Course Fee $132,125 $355,357 $323,284 $227,693 $114,462 $1,152,921 Cart Fee $720 $2,080 $1,960 $1,960 $1,200 $7,920 Pro Shop $15,100 $43,580 $41,240 $37,880 $25,360 $163,160 Range $2,313 $6,513 $6,225 $5,700 $3,869 $24,619 Food&Beverages $6,938 $19,538 $18,675 $22,800 $15,475 $83,426 Other Revenue $0 $100 $100 $100 $100 $400 Total $157,196 $427,167 $391,484 $296,133 $160,466 $1,432,446 Expenditures Salaries and Benefits $52,877 $106,992 $104,094 $105,581 $101,633 $471,177 Golf Course Maintenance $10,827 $18,016 $25,866 $31,866 $51,616 $138,191 Cart Expenses $351 $6,204 $9,208 $9,208 $9,208 $34,179 Pro Shop Expenses $0 $1,540 $1,490 $1,490 $1,140 $5,660 Pro Golf Shop Cost of Goods Sold $8,880 $25,008 $23,904 $21,888 $14,856 $94,536 Range Expenses $50 $100 $100 $100 $250 $600 Food&Bev. Expenses $912 $1,070 $1,070 $1,070 $3,220 $7,342 Food&Bev.Cost of Goods Sold $2,775 $7,815 $7,470 $8,835 $5,997 $32,892 General&Administration Expenses $13,364 $52,010 $46,464 $39,496 $31,997 $183,331 Management Fee $6,250 $12,500 $12,500 $12,500 $12,500 $56,250 Property Taxes $0 $0 $0 $0 $0 $0 Interest Expense $0 $0 $0 $0 $0 $0 Capital Expenses $0 $0 $0 $0 $0 $0 Total $96,286 $231,255 $232,166 $232,034 $232,417 $1,024,158 Net Profit(Loss) $60,910 $195,912 $159,318 364,099 ($71,951) $408,288 Note:Budget figures have changed since last report. Change was due to unrecognized taxes on lease. , « ! 8 ! 7 ; ®| ! ! « §8 * \@ h #§}k/ 2 \� - , , }#k„ o ©2 ,& )\k Ot d2 NAN , NNW it 413 \\( (} E | © § ■ ; §§ - P- r) o }\ : :i B � ( !, 053E§ \\ - . � � , m at {)f !( « i ! \ k ; ! . ee ! g, 3:w - ° —! ! K ;i k ■ @ —! CN [ o !! ;!( }\cc / to | ) )2!ƒ3 } POOLED MONEY INVESTMENT ACCOUNT SUMMARY OF INVESTMENT DATA A COMPARISON OF MARCH 1997 WITH MARCH 1996 (Dollars in Thousands) MARCH 1997 MARCH 1996 CHANGE Average Daily Portfolio $28,119,688 $28,787,047 -$667,359 Accrued Earnings $133,274 $135,497 -$2,223 Effective Yield 5.580 5.557 + .023 Average Life--Month End(in days) 246 241 +5 Total Security Transactions Amount $10,751,192 $19,326,617 -$8,575,425 Number 248 452 -204 Total Time Deposit Transactions Amount $131,900 $81,600 +$50,300 Number 28 15 + 13 Average Workday Investment Activity $518,243 $924,201 -$405,958 Prescribed Demand Account Balances For Services $152,758 $109,878 +$42,880 For Uncollected Funds $165,589 $135,878 +$29,711 LOCAL AGENCY INVESTMENT FUND* SUMMARY OF ACTIVITY MARCH 1997 _. BEGINNING BALANCE DEPOSITS WITHDRAWALS MONTH END BALANCE $11,099,616,265.62 $807,432,287.15 $1,287,229,801.21 $10,619,818,751.56 *Local Agency Investment Fund Invested Through Pooled Money Investment Account