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HomeMy WebLinkAbout10 APRIL 1998 ;CC City of Palm Desert IIII Month-end Investment Report MARCH 31, 1998 TABLE OF CONTENTS INVESTMENT INFORMATION FOR ENTIRE PORTFOLIO Portfolio Master Summary 1 Investment Portfolio Detail - Investments 2 • Investment Portfolio Detail - Cash 5 Portfolio Master Investment Activity by Type 6 Investment Activity Summary 9 Distribution of Investments by Type 10 Interest Earnings Summary 11 Investment Portfolio Compliance Checklist 46 INVESTMENT INFORMATION BY FUND/BOND Assesssment District 83-1 12 1995 Refunding Bond 84-1-R 14 Assessment District 87-1 16 Indian Ridge 91-1 Series B 20 Indian Ridge 91-1 Series 1997 22 92-1 Series 1997 26 94-1 Series 1997 30 Sunterrace 94-2 32 Merrano 94-3 34 95 Refunding Bond 83-1, 84-1-R, 87-1 36 1997 Rev Bnd: 91-1, 92-1, 94-1 38 Library Foundation 40 City General Fund 41 City Loan to RDA 43 Office Complex 44 04/14/1998 City of Palm Desert PM - 1 PORTFOLIO MASTER SUMMARY CITY MARCH 31, 1998 ACCRUAL AVERAGE ---YIELD TO MATURITY--- PERCENT OF AVERAGE DAYS TO 360 365 INVESTMENTS HOOK VALUE PORTFOLIO TERM MATURITY EQUIVALENT EQUIVALENT Fidelity Treasury Pool $ 4,681,603.00 3.86 1 1 5.346 5.420 Local Agency Investment Funds $ 19,842,222.91 16.37 . 1 1 5.665 5.744 Passbook/Checking Accounts $ 8,111,576.00 6.69 1 1 4.569 4.633 • ' Federal Agency Issues - Coupon ' $ 24,882,382:06 20.53 952 688 5.938 6.020 Treasury Securities - Coupon $ 39,390,929.93 32.50 1,237 895 5.859 5.941 . Treasury Securities - Discount $ 4,847,122.36 4.00 1,706 1,595 5.738 5.818 City Loan to RDA $ 19,000,000.00 15.67 2,192 1,187 5.462 5.538 State & Local Govt. Series $ 465,000.00 0.38 1,753 1,642 0.000 0.000 TOTAL INVESTMENTS and AVERAGES $ 121,220,836.26 100.00% 1,016 688 5.648% 5.726% CASH Passbook/Checking - No Yield Totals $ 4,849,180.69 0.000 0.000 (not included in yield calculations) Accrued Interest at Purchase $ 274,826.37 TOTAL CASH and PURCHASE INTEREST $ 5,124,007.06 TOTAL CASH and INVESTMENTS $ 126,344,843.32 • MONTH ENDING FISCAL TOTAL EARNINGS MARCH 31 YEAR TO DATE Current Year $ 610,126.59 $ 4,572,592.62 • AVERAGE DAILY BALANCE $ 126,426,025.12 $ 106,469,293.50 EFFECTIVE RATE OF RETURN 5.68% 5.72% 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 flow to meet its expenditure requirements for the next six months. The month-end market values DATE were obtained from First Trust and IDC Datafeed pricing service. 1 04/14/1998 City of Palm Desert PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 ACCRUAL INVESTMENT AVERAGE PURCHASE - STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12004 Fidelity Institutional Cash 0.00 0.00 0.00 5.420 5.346 5.420 1 12005 Fidelity Institutional Cash 0.00 0.00 0.00 5.420 5.346 5.420 1 . 12006 R Fidelity Institutional Cash 0.00 0.00 0.00 5.450 5.375 5.450 1 12007 Fidelity Institutional Cash 0.00 ' 0.00 0.00 5.480 5.405 5.480 1 12009 I Fidelity Institutional Cash 36,196.00 36,196.00 36.196.00 5.420 5.346 5.420 1 12010 R Fidelity'Institutional Cash 187,824.00 - 187,824.00 187,824.00 5.420 5.346 5.420 1 12011 Fidelity Institutional Cash 0.00 0.00 0.00 5.140 5.070 5.140 1 12012 I Fidelity Institutional Cash 413,400.00 413,400.00 413,400.00 5.420 5.346 5.420 1 12013 R Fidelity Institutional Cash 129,103.00 129,103.00 129,103.00 5.420 5.346 5.420 1 12015 Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.980 1 12016 I Fidelity Institutional Cash 0.00 0.00 0.00 5.450 5.375 5.450 1 12018 R Fidelity Institutional Cash 0.00 0.00 0.00 5.450 5.375 5.450 1 12019 Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 12020 I Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 12021 Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 12022 R Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 12023 Fidelity Institutional Cash 0.00 0.00 0.00 5.360 5.287 5.360 1 • 12024 Fidelity Institutional Cash 0.00 0.00 0.00 5.210 5.139 5.210 1 12025 R Fidelity Institutional Cash 460,962.00 460,962.00 460,962.00 5.420 5.346 5:420 1 12027 R Fidelity Institutional Cash 62,522.00 62,522.00 62,522.00 5.420 5.346 5.420 1 12028 R Fidelity Institutional Cash 158,071.00 158,071.00 158,071.00 5.420 5.346 5.420 1 12031 Fidelity Institutional Cash 21.00 21.00 21.00 5.430 5.356 5.430 1 12032 Fidelity Institutional Cash 214.00 214.00 214.00 5.420 5.346 5.420 1 12033 Fidelity Institutional Cash 0.00 0.00 0.00 5.420 5.346 5.420 1 • 12034 Fidelity Institutional Cash 5.00 5.00 5.00 5.420 5.346 5.420 1 12035 Fidelity Institutional Cash 53.00 53.00 53.00 5.420 5.346 5.420 1 12036 Fidelity Institutional Cash 16.00 16.00 16.00 5.420 5.346 5.420 1 12037 Fidelity Institutional Cash 41.00 41.00 41.00 5.420 5.346 5.420 1 12039 Fidelity Institutional Cash 185.00 185.00 185.00 5.420 5.346 5.420 1 12042 I Fidelity Institutional Cash 0.00 0.00 0.00 5.450 5.375 5.450 1 12043 Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 12043 R Fidelity Institutional Cash 0.00 0.00 0.00 5.450 5.375 5.450 1 12044 Fidelity Institutional Cash 0.00 0.00 0.00 5.150 5.079 5.150 1 12045 Fidelity Institutional Cash 0.00 0.00 0.00 5.470 5.395 5.470 1 12046 Fidelity Institutional Cash 3.00 3.00 3.00 5.420 5.346 5.420 1 12049 Fidelity Institutional Cash 74,933.00 74,913.00 74,933.00 5.420 5.346 5.420 1 12050 Fidelity Institutional Cash 0.00 0.00 0.00 5.470 5.395 5.470 1 • 12051 Fidelity Institutional Cash 0.00 0.00 0.00 5.470 5.395 5.470 1 12052 Fidelity Institutional Cash 8.00 8.00 8.00 5.420 5.346 5.420 1 12053 Fidelity Institutional Cash 195,849.00 195,849.00 195,649.00 5.420 5.346 5.420 1 12054 Fidelity Institutional Cash 16.00 16.00 16.00 5.420 5.346 5.420 1 12055 Fidelity Institutional Cash 49.00 49.00 49.00 5.420 5.346 5.420 1 12056 Fidelity Institutional Cash 0.00 0.00 0.00 5.470 5.395 5.470 1 • 04/14/1998 City of Palm Desert PM - 3 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12057 Fidelity Institutional Cash 2,334,870.00 2,334,870.00 2,334,870.00 5.420 5.346 5.420 1 12058 Fidelity Institutional Cash 519,105.00 519,105.00 519,105.00 5.420 5.346 5.420 1 12059 Fidelity Institutional Cash - 108,157.00 108,157.00 . 108,157.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 4,224,030.81 4,681,603.00 4,681,603.00 4,681,603.00 5.346 5.420 1 LOCAL AGENCY INVESTMENT FUNDS 12000 Local Agency Investment Fun 19,842,222.91 19,842,222.91 19,842,222.91 5.744 5.665 5.744 1 AVERAGES 19.842,222.91 PASSBOOK/CHECKING ACCOUNTS 13007 Main Account (Sweep) - UBC 7,555,978.27 7,555,978.27 7,555,978.27 4.630 4.567 4.630 1 13012 Office Complex (Sweep) - UB 555,597.73 555,597.73 555,597.73 4.670 4.606 4.670 1 SUBTOTALS and AVERAGES 10,804,383.51 8,111,576.00 8,111,576.00 8,111,576.00 4.569 4.633 1 - FEDERAL AGENCY ISSUES - COUPON 14016 Federal Farm Credit Bank 08/04/97 3,000,000.00 3,000,000.00 3,012,187.50 6.000 6.000 6.083 08/04/00 856 14007 Federal Home Loan Bank 10/24/96 3,995,652.47 4,000,000.00 4,001,250.00 5.820 6.019 6.102 11/02/98 215 14011 Federal Home Loan Hank 03/26/97 1,800,000.00 1,800,000.00 1,809,000.00 6.310 6.310 6.398 03/26/99 359 14020 Federal Home Loan Bank 01/14/98 3,000,000.00 3,000,000.00 2,991,562.50 5.802 5.802 5.883 01/14/00 653 14022 Federal Home Loan Bank 01/09/98 1,998,468.75 2,000,000.00 1,992,500.00 6.105 6.145 6.231 01/09/02 1,379 14024 Federal Home Loan Bank 03/03/98 2,996,906.25 3,000,000.00 2,981,250.00 5.935 5.998 6.081 02/13/01 1,049 14019 FED HOME LOAN MORTGAGE CORP 09/09/97 2,000,073.27 2,000,000.00 2,000,000.00 5.840 5.636 5.714 04/08/98 7 14002 I Federal National Mortgage A 12/12/95 1,032,888.24 1,000,000.00 1,032,500.00 8.450 5.877 5.958 07/12/99 467 14004 I Federal National Mortgage A 12/12/95 1,060,827.98 1,000,000.00 1,061,875.00 9.050 5.620 5.699 04/10/00 740 14021 Federal National Mortgage A 01/05/98 997,075.00 1,000,000.00 997,187.50 5.230 5.689 5.768 11/25/98 238 14023 Federal National Mortgage A 01/14/98 2,000,000.00 2,000,000.00 1,986,250.00 6.010 5.928 6.010 01/14/03 1,749 14018 Tennessee Valley Authority 09/09/97 1,000,490.10 1,000,000.00 990,937.50 5.950 5.836 5.917 09/15/98 167 SUBTOTALS and AVERAGES 24,689,812.04 24,882,382.06 24,856,500.00 24,800,000.00 5.938 6.020 688 TREASURY SECURITIES - COUPON 16006 I United States Treasury 12/12/95 484,926.39 484,000.00 484,605.00 5.875 5.241 5.314 08/15/9B 136 16007 I United States Treasury 12/12/95 1,015,242.66 1,000,000.00 1,012,812.50 6.375 5.338 5.413 01/15/00 654 16008 I United States Treasury 12/12/95 459,484.37 445,000.00 458,906.25 8.000 5.279 5.352 08/15/99 501 16009 I United States Treasury 12/12/95 1,000,921.05 1,000,000.00 1,000,937.50 7.875 5.212. 5.284 04/15/98 14 16010 I United States Treasury 12/12/95 1,008,777.70 1,000,000.00 1,008,437.50 7.125 5.272 5.345 10/15/98 197 16034 United States Treasury 05/31/96 1,999,047.12 2,000,000.00 2,001,250.00 6.000 5.967 6.050 05/31/98 60 16036 United States Treasury 06/26/96 2,995,177.88 3,000,000.00 3,003,750.00 5.875 6.252 6.338 08/15/98 136 3 04/14/1998 City of Palm Desert PM - 4 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT TREASURY SECURITIES - COUPON 16037 United States Treasury 06/26/96 2,976,692.24 3,000,000.00 2,991,562.50 5.125 6.314 6.402 11/30/98 243 16045 United States Treasury 09/05/96 1,998,198.28 2,000,000.00 2,005,000.00 6.125 6.270 6.358 08/31/98 152 16047 . United States.Treasury 05/01/97 2,002,364.54 2,000,000.00 2,016,875.00 6.375 6.171 6.257 04/30/99 394 16048 United States Treasury 03/21/97 1,980,244.25 2,000,000.00 1,990,000.00 5.000 6.124 6.209 02/15/99 320 16050 United States Treasury 12/11/97 92,142.01 92,000.00 92,316.25 5.875 5.674 5.753 08/31/99 517 16051 United States Treasury 12/11/97 1,360,764.80 1,340,000.00 1,368,893.75 6.250 5.761 5.841 08/31/02 1,613 16052 United States Treasury 12/11/97 12,291.25 12,000.00 12,322.50 7.125 5.672 5.750 02/29/00 699 16053 United States Treasury 12/11/97 97,969.39 97,000.00 98,333.75 6.250 5.713 5.792 08/31/00 883 16054 United States Treasury 12/11/97 12,948.50 13,000.00 12,987.81 5.625 5.693 5.772 02/28/01 1,064 16055 United States Treasury 12/11/97 105,082.88 103,000.00 105,575.00 6.500 5.750 5.830 08/31/01 1,248 16056 United States Treasury 12/11/97 13,180.94 13,000.00 13,251.88 6.250 5.761 5.841 02/28/02 1,429 . 16058 United States Treasury 12/11/97 86,670.03 87,000.00 86,728.13 4.750 5.606 5.684 08/31/98 152 16059 United States Treasury 12/11/97 11,977.50 12,000.00 11,992.50 5.500 5.629 5.707 02/28/99 333 16060 United States Treasury 12/11/97 308,102.72 300,000.00 309,843.75 6.625 5.768 5.848 03/11/02 1,460 16061 United States Treasury 12/11/97 15,211,790.58 15,194,000.00 15,307,955.00 5.875 5.762 5.842 09/30/02 1,643 16062 United States Treasury 12/11/97 926,061.38 911,000.00 930,643.44 6.375 5.758 5.838 09/30/01 1,278 16063 United States Treasury 12/11/97 286,160.73 282,000.00 287,463.75 6.375 5.748 5.828 03/31/01 1,095 - 16064 United States Treasury 12/11/97 853,135.89 B47,000.00 856,528.75 6.125 5.724 5.803 09/30/00 913 16065 United States Treasury 12/11/97 270,355.24 265,000.00 271,293.75 6.875 5.696 5.775 03/31/00 730 16066 United States Treasury 12/11/97 806,685.53 807,000.00 808,513.13 5.750 5.693 5.772 09/30/99 547 16067 United States Treasury 12/11/97 251,227.30 250,000.00 251,640.63 6.250 5.646 5.724 03/31/99 364 16068 United States Treasury 12/11/97 762,505.78 766,000.00 763,366.88 4.750 5.611 5.689 09/30/98 182 SUBTOTALS and AVERAGES 41,557,134.13 39,390,929.93 39,563,786.90 39,320,000.00 5.859 5.941 895 TREASURY SECURITIES - DISCOUNT 17070 United States Treasury 12/11/97 128,676.56 166,000.00 131,762.50 5.078 5.758 5.838 05/15/02 1,505 17071 United States Treasury 12/11/97 4,718,445.80 6,170,000.00 4,831,881.25 5.028 5.737 5.817 08/15/02 1,597 SUBTOTALS and AVERAGES 4,847,122.36 4,847,122.36 4,963,643.75 6,336,000.00 5.738 5.818 1,595 • 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 1,187 AVERAGES 19,000,000.00 STATE & LOCAl GOVT. SERIES 23000 State & Local Govt. Series 12/11/97 430,000.00 430,000.00 430,000.00 0.000 0.000 0.000 10/01/02 1,644 23001 State & Local Govt. Series 12/11/97 35,000.00 35,000.00 35,000.00 0.000 0.000 0.000 09/02/02 1,615 SUBTOTALS and AVERAGES 465,000.00 465,000.00 465,000.00 465,000.00 0.000 0.000 1,642 TOTAL INVESTMENTS and AVG. $ 121,220,836.26 121,484,332.56 125,429,705.75 122,556,401.91 5.6488 5.7268 688 4 • • 04/14/1998 City of Palm Desert PM - 5 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BAIIINCE DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT PASSBOOK/CHECKING ACCOUNTS 13009 Desert Willow Checking - BofA 2,794.00 0.000 0.000 0.000 13010 Desert Willow Savings - BofA 435,608.62 0.000 0.000 0.000 13000 City Main Account - BofA . . 0.00 0.000 0.000 0.000 . 13003 Office Complex Checking - BofA 0.00 0.000 0.000 0.000 13004 Office Complex Trust - BofA 0.00 0.000 0.000 0.000 13002 Bank of America - Savings 0.00 2.000 1.973 2.000 13005 Library Foundation - UBC 10,000.00 0.000 0.000 0.000 13006 City Main Account - UBC 4,325,429.25 0.000 0.000 0.000 13008 office Complex Checking - UBC 51,287.77 0.000 0.000 0.000 13011 Office Complex Trust - UBC 23,990.41 0.000 0.000 0.000 SUBTOTALS and AVERAGES 1,046,319.42 4,849,180.69 0.000 0.000 Accrued Interest at Purchase 274,826.37 TOTAL CASH $ 5,124,007.06 TOTAL CASH and INVESTMENTS $ 126,476,025.17 126,344,843.32 5 04/14/1998 City of Palm Desert PM - 6 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY MARCH 1, 1998 - MARCH 31, 1998 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT U ISSUER RATE DATE OR ➢EPOSITS OR WITHDRAWALS BALANCE • FIDELITY TREASURY POOL (Monthly Summary) 12004 Fidelity-Institutional Cash 5.420, - 12005 Fidelity Institutional Cash 5.420 . 12006 R Fidelity Institutional Cash 5.450 12007 Fidelity Institutional Cash 5.460 12009 I Fidelity Institutional Cash 5.420 138.00 12010 R Fidelity Institutional Cash 5.420 719.00 12011 Fidelity Institutional Cash 5.140 12012 I Fidelity Institutional Cash 5.420 1,584.00 12013 R Fidelity Institutional Cash 5.420 494.00 12015 Fidelity Institutional Cash 5.480 _ 12016 I Fidelity Institutional Cash 5.450 • 12018 R Fidelity Institutional Cash 5.450 12019 Fidelity Institutional Cash 5.480 12020 I Fidelity Institutional Cash 5.480 12021 Fidelity Institutional Cash 5.480 12022 R Fidelity Institutional Cash 5.480 12023 Fidelity Institutional Cash 5.360 12024 Fidelity Institutional Cash 5.210 12025 R Fidelity Institutional Cash 5.420 1,766.00 12027 R Fidelity Institutional Cash 5.420 247.00 12028 R Fidelity Institutional Cash 5.420 606.00 12031 Fidelity Institutional Cash 5.430 12032 Fidelity Institutional Cash 5.420 104,457.00 12033 Fidelity Institutional Cash 5.420 17.00 12034 Fidelity Institutional Cash 5.420 12,107.00 12035 Fidelity Institutional Cash 5.420 123,592.00 12036 Fidelity Institutional Cash 5.420 38,744.00 12037 Fidelity Institutional Cash 5.420 47,007.00 12039 Fidelity Institutional Cash 5.420 1.00 12042 I Fidelity Institutional Cash 5.450 12043 Fidelity Institutional Cash 5.480 12043 R Fidelity Institutional Cash 5.450 12044 Fidelity Institutional Cash 5.150 12045 Fidelity Institutional Cash 5.470 12046 Fidelity Institutional Cash 5.420 808.00 12049 Fidelity Institutional Cash 5.420 8,849.00 12050 Fidelity Institutional Cash 5.470 12051 Fidelity Institutional Cash 5.470 12052 Fidelity Institutional Cash 5.420 412,215.00 426,361.00 12053 Fidelity Institutional Cash 5.420 773.00 12054 Fidelity Institutional Cash 5.420 15.00 21,093.00 12055 Fidelity Institutional Cash 5.420 48.00 71,650.00 6 04/14/1998 City of Palm Desert PM - 7 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY MARCH 1, 1998 - MARCH 31, 1998 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT t ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE 12056 Fidelity Institutional Cash 5.470 12057 Fidelity Institutional Cash 5.420 65,686.00 12058 Fidelity Institutional Cash 5.420 519,105.00 12059 Fidelity Institutional Cash 5.420 . 108,157.00 • SUBTOTALS and ENDING BALANCE 1,111,554.00 854,685.00 4,681,603.00 LOCAL AGENCY INVESTMENT FUNDS (Monthly Summary) 12000 Local Agency Investment Fund 5.744 19,842,222.91 PASSBOOK/CHECKING ACCOUNTS (Monthly Summary) 13009 Desert Willow Checking - BofA 0.000 13010 Desert Willow Savings - BofA 0.000 . 13000 City Main Account - BofA 0.000 13003 Office Complex Checking - BofA 0.000 13004 Office Complex Trust - BofA 0.000 13002 Bank of America - Savings 2.000 13005 Library Foundation - UBC 0.000 13006 City Main Account - UBC 0.000 3,929,571.72 13008 Office Complex Checking - UBC 0.000 13011 Office Complex Trust - UBC 0.000 13007 Main Account (Sweep) - UBC 4.630 2,782,567.76 13012 Office Complex (Sweep) - UBC 4.670 SUBTOTALS and ENDING BALANCE 3,929,571.72 2,782,567.76 8,111,576.00 CASH WITH TRUSTEE -FIRST TRUST (Monthly Summary) 24001 Cash with Trustee 0.000 1.24 24002 Cash with Trustee 0.000 0.23 24003 Cash with Trustee • 0.000 0.35 24004 Cash with Trustee 0.000 24005 Cash with Trustee 0.000 0.07 24006 Cash with Trustee 0.000 1.18 24007 Cash with Trustee 0.000 24008 Cash with Trustee 0.000 24009 Cash with Trustee 0.001 0.49 24010 Cash with Trustee 0.000 24011 Cash with Trustee 0.000 0.35 24012 Cash with Trustee 0.000 0.28 24013 Cash with Trustee 0.000 0.15 24014 Cash with Trustee 0.000 49.25 SUBTOTALS and ENDING BALANCE 52.44 1.15 0.00 7 04/14/1998 City of Palm Desert PM - 8 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE CITY MARCH 1, 1998 - MARCH 31, 1998 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT S ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE FEDERAL AGENCY ISSUES - COUPON 14024 Federal Home Loan Bank 5.935 03/03/1998 2,994,843.75 24,882,382.06 TREASURY SECURITIES - COUPON 16035 United States Treasury 5.125 03/31/1998 2,000,000.00 16069 United States Treasury 5.125 03/31/1998 239,000.00 SUBTOTALS and ENDING BALANCE 0.00 2,239,000.00 39,390,929.93 TREASURY SECURITIES - DISCOUNT 4,847,122.36 CITY LOAN TO RDA 19,000,000.00 STATE & LOCAL GOVT. SERIES 465,000.00 TOTALS 8,036,021.91 5,876,253.91 121,220,836.26 8 04/14/1998 PM - 9 City of Palm Desert CITY INVESTMENT ACTIVITY SUMMARY ACCRUAL MARCH 1997 through MARCH 1998 YIELD TO MATURITY MANAGED NUMBER OF NUMBER OF AVERAGE MONTH NUMBER OF TOTAL 360 365 POOL SECURITIES SECURITIES AVERAGE DAYS TO END YEAR SECURITIES INVESTED EQUIV EQUIV RATE PURCHASED MATURED/SOLD TERM MATURITY • March 97 78 81,627,550.19 9.735 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 May 97 78 84,880,987.05 5.744 5.823 5.310 3 2 922 621 June 97 85 90,871,191.91 5.798 5.878 5.360 2 0 896 593 July 97 86 94,575,224.17 5.737 5.817 5.360 0 1 853 539 August 97 84 91,547,197.66 5.732 5.811 5.403 2 4 918 589 September 97 88 93,217,921.33 5.745 5.824 5.440 2 2 910 565 October 97 86 89,798,898.28 5.773 5.853 5.420 0 2 930 559 November 97 85 87,819,965.49 5.770 5.850 5.420 0 1 939 548 December 97 121 118,541,443.76 5.674 5.753 5.470 29 6 1,009 706 January 98 123 127,172,468.11 5.572 5.650 2.663 4 2 996 697 February 98 119 124,986,163.44 5.643 5.721 5.440 0 4 1,000 687 March 98 119 121,220,836.26 5.648 5.726 5.420 1 5 1,016 688 AVERAGES 95 $ 98,859,324.69 5.724% 5.8014 5.262% 4 2 947 626 9 04/14/1998 P City of Palm Desert C DISTRIBUTION OF INVESTMENTS BY TYPE A MARCH 1997 through MARCH 1998 MONTH TYPES OF INVESTMENTS END YEAR BCD SCD LA1 LA2 LA5 PA1 PA2 MTN BAC CPI COM FAC FAD TRC TRD MD1 MC1 March 97 6.5 19.4 18.7 32.1 23.3 • April 97 S.9 20.3 19.1 30.6 24.1 May 97 5.5 23.6 17.7 30.8 22.4 June 97 5.0 17.8 5.4 22.0 28.8 20.9 July 97 4.6 17.4 4.3 5.2 20.7 27.7 20.1 August 97 6.9 14.7 6.9 24.7 26.1 20.8 September 97 5.6 14.4 6.5 27.5 25.6 20.4 October 97 6.6 15.2 3.8 26.6 26.6 21.2 November 97 6.8 15.5 3.9 27.2 25.0 21.6 December 97 2.4 11.5 5.1 4.2 14.4 41.9 4.1 16.0 January 98 3.4 10.9 6.4 2.3 18.8 39.1 3.8 14.9 February 98 3.5 15.9 8.7 19.1 33.3 3.9 15.2 March 98 3.9 16.4 6.7 20.5 32.5 4.0 15.7 AVERAGES 5.1% 16.4% 4.0% 1.3$ 21.3% 30.8% 1.2$ 19.74 BCD - Certificates of Deposit - Bank SCD - Certificates of Deposit - S & L LA1 - Fidelity Treasury Pool LA2 - Managed Pool Accounts LA5 - Local Agency Investment Funds PA1 - Passbook/Checking Accounts PA2 - Cash with Trustee -First Trust MTN - 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-Bills MCI - City Loan to RDA MC3 - State & Local Govt. Series - Coupon MD2 - State & Local Govt. Series 10 • 04/14/1998 PM - 11 City of Palm Desert CITY INTEREST EARNINGS SUMMARY ACCRUAL MARCH 31, 1998 MONTH ENDING FISCAL MARCH 31, 1998 - YEAR TO DATE CD/Coupon/Discount Investments: Interest Collected $ 321,529.42 $ 2,237,148.18 PLUS Accrued Interest at End Of Period 4,148,180.65 4,148,180.65 LESS Accrued Interest at Beginning of Period ( 4,018,138.69) ( 2,863,962.47) • Interest Earned during Period $ 451,571.38 3,521,366.36 am ADJUSTED by Premiums and Discounts -291.61 5,958.43 ADJUSTED by Capital Gains or Losses 0.00 7,943.54 Earnings during Period 451,279.77 $ 3,535,268.33 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 $ 16,914.93 $ 645,330.64 PLUS Accrued Interest at End of Period 942,354.32 942,354.32 LESS Accrued Interest at Beginning of Period ( 800,422.43) ( 550,360.67) Interest Earned during Period $ 158,846.82 $ 1,037,324.29 TOTAL Interest Earned during Period $. 610,418.20 $ 4,558,690.65 TOTAL Ajustments from Premiums and Discounts $ -291.61 $ 5,958.43 TOTAL Capital Gains or Losses $ 0.00 $ 7,943.54 TOTAL Earnings during Period $ 610,126.59 $ 4,572,592.62 11 - 04/14/1996 Assessment District 83-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARYFT VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12027 R Fidelity Institutional Cash 62,522.00 62,522.00 62,522.00 5.420 5.346 5.420 1 12034 Fidelity Institutional Cash 5.00 5.00 5.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 62,527.00 62,527.00 62,527.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 62,527.00 62,527.00 62,527.00 5.3461 5.420% 1 12 • O'4/14/1998 Assessment District 83-1 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24002 Cash with Trustee 0.87 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 62,527.87 • 13 - 04/14/1998 1995 Refunding Bonds 84-1-R PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 12025 R Fidelity Institutional Cash 460,962.00 460,962.00 460,962.00 5.420 5.346 5.420 1 12035 Fidelity Institutional Cash 53.00 53.00 53.00 5.420 5.346 5.420 1 . -12059 Fidelity Institutional Cash 108,157.00 108,157.00 108,157.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 569,172.00 569,172.00 - - 569,172.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 569,172.00 569,172.00 569,172.00 5.346% 5.420% 1 14 04/14/1998 1995 Refunding Bonds 84-1-R PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24001 Cash with Trustee 1.59 0.000 0.000 0.000 • TOTAL CASH and INVESTMENTS $ 569,173.59 • • • 15 04/14/1996 AD 87-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 158,071.00 158,071.00 158,071.00 5.420 5.346 5.420 1 12036 Fidelity Institutional Cash 16.00 16.00 16.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 158,087.00 158,087.00 158,087.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 158,067.00 158,087.00 158,087.00 5.346% 5.420% - 1 16 04/14/1998 AD 87-1 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24009 Cash with Trustee 1.37 - 0.001 0.001 0.001 TOTAL CASH and INVESTMENTS $ 158,088.37 17 04/14/1998 Indian Ridge 91-1 Series A PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 0.00 0.00 0.00 5.480 5.405 5.480 1 12016 I Fidelity Institutional Cash 0.00 0.00 0.00 5.450 5.375 5.450 1 12022 R Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 SUBTOTALS and AVERAGES 0.00 0.00 0.00 0.000 0.000 - 0 TOTAL INVESTMENTS and AVG. $ 0.00 0.00 0.00 0.0001 0.000% 0 ' • 18 - 04/14/1998 Indian Ridge 9i-1 Series A PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 199E 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 24004 Cash with Trustee 3.92 0.000 0.000 0.000 • • TOTAL CASH and INVESTMENTS $ 3.92 • 19 04/14/1998 Indian Ridge 91-1 Series B PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 0.00 0.00 0.00 5.450 5.375 5.450 1 12043 Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 , •12043 R Fidelity Institutional Cash 0.00 0.00 0.00 5.450 5.375 5.450 1 12044 Fidelity Institutional Cash 0.00 ' 0.00 0.00 5.150 5.079 5.150 1 SUBTOTALS and AVERAGES 0.00 0.00 0.00 0.000 0.000 0 FEDERAL AGENCY ISSUES - COUPON 14011 Federal Home Loan Bank 03/26/97 1,800,000.00 1,800,000.00 1,809,000.00 6.310 6.310 6.398 03/26/99 359 14002 I Federal National Mortgage A 12/12/95 1,032,888.24 1,000,000.00 1,032,500.00 8.450 5.877 5.958 07/12/99 467 . 14004 I Federal National Mortgage A 12/12/95 1,060,827.98 1,000,000.00 1,061,875.00 9.050 5.620 5.699 04/10/00 740 SUBTOTALS and AVERAGES 3,893,716.22 3,903,375.00 3,800,000.00 6.007 6.091 491 TREASURY SECURITIES - COUPON 16QO6 I United States Treasury 12/12/95 484,926.39 484,000.00 484,605.00 5.875 5.241 5.314 08/15/98 136 16007 I United States Treasury 12/12/95 1,015,242.66 1,000,000.00 1,012,812.50 6.375 5.338 5.413 01/15/00 654 16008 I United States Treasury 12/12/95 459,484.37 445,000.00 458,906.25 8.000 5.279 5.352 08/15/99 501 16009 I United States Treasury 12/12/95 1,000,921.05 1,000,000.00 1,000,937.50 7.875 5.212 5.284 04/15/98 14 16010 I United States Treasury 12/12/95 1,008,777.70 1,000,000.00 1,008,437.50 7.125 5.272 5.345 10/15/90 197 SUBTOTALS and AVERAGES _ 3,969,352.17 3,965,698.75 3,929,000.00 5.271 5.344 295 TOTAL INVESTMENTS and AVG. $ 7,863,068.39 7,869,073.75 7,729,000.00 5.6354 5.714E 393 • • 20 . 04/14/199B Indian Ridge 91-1 Series B PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 24010 Cash with Trustee 4.09 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 7,861,072.4S 21 • 04/14/1998 91-1 Series 1997 PM - 2 INVESTMEITP PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 • 12050 Fidelity Institutional Cash 0.00 0.00 0.00 5.470 5.395 5.470 1 12052 Fidelity Institutional Cash 8.00 8.00 8.00 5.420 5.346 5.420 1 12057 . Fidelity Institutional Cash 2,334,870.00 2,334,870.00 2,334,870.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 2,334,878.00 2,334,878.00 2,334,878.00 5.346 5.420 1 TREASURY SECURITIES - COUPON • 16060 United States Treasury 12/11/97 308,102.72 300,000.00 309,843.75 6.625 5.768 5.848 01/11/02 1,460 16061 United States Treasury 12/11/97 15,211,790.58 15,194,000.00 15,307,955.00 5.875 5.762 5.842 09/30/02 1,643 16062 United States Treasury 12/11/97 926,061.38 911,000.00 930,643.44 6.375 5.758 5.838 09/30/01 1,278 16063 United States Treasury 12/11/97 286,160.73 282,000.00 287,463.75 6.375 5.748 5.828 03/31/01 1,095 16064 United States Treasury 12/11/97 853,135.89 847,000.00 856,528.75 6.125 5.724 5.803 09/30/00 913 16065 United States Treasury 12/11/97 270,355.24 265,000.00 271,293.75 6.875 5.696 5.775 03/31/00 730 - 16066 United States Treasury 12/11/97 806,685.53 807,000.00 808,513.13 5.750 5.693 5.772 09/30/99 547 16067 United States Treasury 12/11/97 251,227.30 250,000.00 251,640.63 6.250 5.646 5.724 03/31/99 364 16068 United States Treasury 12/11/97 762,505.78 766,000.00 763,366.88 4.750 5.611 5.689 09/30/98 162 - SUBTOTALS and AVERAGES 19,676,025.15 19,787,249.08 19,622,000.00 5.749 5.829 1,453 TREASURY SECURITIES - DISCOUNT 17071 United States Treasury 12/11/97 4,718,445.80 6,170,000.00 4,831,881.25 5.028 5.737 5.817 08/15/02 1,597 STATE & LOCAL GOVT. SERIES 93000 State & Local Govt. Series 12/11/97 430,000.00 430,000.00 430,000.00 0.000 0.000 0.000 10/01/02 1,644 TOTAL INVESTMENTS and AVG. $ 27,159,348.95 27,384,008.33 28,556,876.00 5.621% 5.700% 1,356 • 22 • 04/14/1998 91-1 Series 1997 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 199B 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 24013 Cash with Trustee 0.53 - 0.000 0.000 0.000 Accrued Interest at Purchase • 228,874.21 TOTAL CASH $ 228,874.74 TOTAL CASH and INVESTMENTS $ 27,385,223.69 23 - 04/14/1998 Sierra Nova 92-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 12004 Fidelity Institutional Cash 0.00 0.00 0.00 5.420 5.346 5.420 1 12005 Fidelity Institutional Cash 0.00 0.00 0.00 5.420 5.346 5.420 1 12006 R Fidelity Institutional Cash 0.00 0.00 0.00 5.450 5.375 5.450 1 12007 Fidelity Institutional Cash 0.00 0.00 0.00 5,480 5.405 5.480 1 12045 Fidelity Institutional Cash 0.00 0.00 0.00 5.470 5.395 5.470 1 SUBTOTALS and AVERAGES 0.00 0.00 0.00 0.000 0.000 0 TOTAL INVESTMENTS and AVG. $ 0.00 0.00 0.00 0.000% 0.000% 0 • 24 04/14/1998 Sierra Nova 92-1 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24008 Cash with Trustee 0.00 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 0.00 25 • 04/14/1998 92-1 Series 1997 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 12051 Fidelity Institutional Cash 0.00 0.00 0.00 5.470 5.395 5.470 1 12054 Fidelity Institutional Cash 16.00 16.00 16.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 16.00 ' 16.00 16.00 5.346 5.420 1 TREASURY SECURITIES - COUPON 16050 United States Treasury 12/11/97 92,142.01 92,000.00 92,316.25 5.875 5.674 5.753 08/31/99 517 16051 United States Treasury 12/11/97 1,360,764.80 1,340,000.00 1,368,893.75 6.250 5.761 5.841 08/31/02 1,613 16052 United States Treasury 12/11/97 12,291.25 12,000.00 12,322.50 7.125 5.672 5.750 02/29/00 699 16053 United States Treasury 12/11/97 97,969.39 97,000.00 98,333.75 6.250 5.713 5.792 08/31/00 883 . 16054 United States Treasury 12/11/97 12,948.50 13,000.00 12,987.81 5.625 5.693 5.772 02/28/01 1,064 16055 United States Treasury 12/11/97 105,083.88 103,000.00 105,575.00 6.500 5.750 5.830 08/21/01 1,248 16056 United States Treasury 12/11/97 13,180.94 13,000.00 13,251.88 6.250 5.761 5.841 02/28/02 1,429 16058 United States Treasury 12/11/97 86,670.03 87,000.00 86,728.13 4.750 5.606 5.684 08/31/98 152 16059 United States Treasury 12/11/97 11,977.50 12,000.00 11,992.50 5.500 5.629 5.707 02/28/99 333 SUBTOTALS and AVERAGES 1,793,028.30 1,802,401.57 ' 1,769,000.00 5.744 5.824 1,405 TREASURY SECURITIES - DISCOUNT 17070 United States Treasury 12/11/97 128,676.56 166,000.00 131,762.50 5.078 5.758 5.838 05/15/02 1,505 STATE 6 LOCni GOUT. SERIES _ 23001 State 6 Local Govt. Series 12/11/97 35,000.00 35,000.00 35,000.00 0.000 0.000 0.000 09/02/02 1,615 TOTAL INVESTMENTS and AVG. $ 1,956,720.86 1,969,180.07 1,970,016.00 5.642% 5.720% 1,415 26 • - 04/14/199B 92-1 Series 1997 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24014 Cash with Trustee 49.29 0.000 0.000 0.000 Accrued Interest at Purchase 30,249.38 • TOTAL CASH $ 30,298.67 TOTAL CASH and INVESTMENTS $ 1,987,019.53 27 04/14/1998 Big Horn 94-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY PAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 12018 R Fidelity Institutional Cash 0.00 0.00 0.00 5.450 5.375 5.450 1 12019 Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 12020 I . Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 12021 Fidelity Institutional Cash 0.00 0.00 0.00 5.480 5.405 5.480 1 SUBTOTALS and AVERAGES 0.00 0.00 0.00 0.000 0.000 0 TOTAL INVESTMENTS and AVG. $ 0.00 0.00 0.00 0.000% 0.000W 0 28 • 04/14/1998 Big Horn 94-1 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 ➢ATE TO MAT • CASH WITH TRUSTEE -FIRST TRUST 24007 Cash with Trustee 2.38 - 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 2.38 • 29 • 04/14/1998 94-1 Series 1997 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 12055 Fidelity Institutional Cash 49.00 49.00 49.00 5.420 5.346 5.420 1 12056 Fidelity Institutional Cash 0.00 0.00 0.00 5.470 5.395 5.470 1 SUBTOTALS and AVERAGES 49.00 49.00 49.00 5.346 5.420 TOTAL INVESTMENTS and AVG. $ 49.00 49.00 49.00 5.346% 5.420% 1 30 • - 04/14/1998 94-1 Series 1997 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24011 Cash with Trustee 0.02 0.000 0.000 0.000 • • TOTAL CASH and INVESTMENTS $ 49.02 31 • 04/14/1998 Sunterrace 94-2 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 12009 I Fidelity Institutional Cash 36,196.00 36,196.00 36,196.00 5.420 5.346 5.420 1 12010 R Fidelity Institutional Cash 187,824.00 187,824.00 187,824.00 5.420 5.346 5.420 1 . 12032 Fidelity Institutional Cash 214.00 214.00 214.00 5.420 5.346 5.420 1 12033 Fidelity Institutional Cash. 0.00 0.00 0.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 224,234.00 224,234.00 224,234.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ . 224,234.00 224,234.00 224,234.00 5.346% 5.420% 1 • • 32 - 04/14/1998 Sunterrace 94-2 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24006 Cash with Trustee 2.35 0.000 0.000 0.000 • TOTAL CASH and INVESTMENTS $ 224,236.35 33 04/14/1998 Merano 94-3 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 413,400.00 413,400.00 413,400.00 5.420 5.346 5.420 1 12013 R Fidelity Institutional Cash 129,103.00 129,103.00 129,103.00 5.420 5.346 5.420 1 12031 Fidelity Institutional Cash 21.00 21.00 21.00 5.430 5.356 5.430 1 12037 Fidelity Institutional Cash 41.00 41.00 41.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 542,565.00 542,565.00 542,565.00 5.346 5:420 1 TOTAL INVESTMENTS and AVG. $ 542,565.00 542,565.00 542,565.00 5.346% 5.4204 1 34 04/14/1998 Merano 94-3 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24005 Cash with Trustee 2.35 0.000 0.000 0.000 • TOTAL CASH and INVESTMENTS $ 542,567.35 35 04/14/1998 95 REV END: 83-1, 84-1-R, 87-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 0.00 0.00 0.00 5.360 5.287 5.360 1 12024 Fidelity Institutional Cash 0.0.0 0.00 0.00 5.210 5.139 5.210 1 12039 Fidelity Institutional Cash 185.00 185.00 185.0G 5.420 5.346 5.420 12046 Fidelity Institutional Cash 3.00 3.00 3.00 5.420 5.346 5.420 1 12049 Fidelity Institutional Cash 74,933.00 74,933.00 74,933.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 75,121.00 75,121.00 75,121.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 75,121.00 75,121.00 75,121.00 5.346% 5.420% 1 _ _ 36 04/14/1996 95 REV BND: 83-1, 84-1-R, 87-1 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24003 Cash with Trustee 0.86 0.000 0.000 0.000 • TOTAL CASH and INVESTMENTS - $ 75,121.86 • 37 04/14/1998 1997 Rev Bnd: 91-1, 92-1, 94-1 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 12053 Fidelity Institutional Cash 195,849.00 195,849.00 195,849.00 5.420 5.346 5.420 1 12058 Fidelity Institutional Cash 519,105.00 519,105.00 519,105.00 5.420 5.346 5.420 1 SUBTOTALS and,AVERAGES 714,954.00 ' 714,954.00 714,954.00 5.346 5.420 1 • TOTAL INVESTMENTS and AVG. $ 714,954.00 714,954.00 714,954.00 5.346% 5.4208 1 • • • 38 04/14/1998 1997 Rev Bnd: 91-1, 92-1, 94-1 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 24012 Cash with Trustee 1.02 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 714,955.02 39 O4/14/199B Library Foundation PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MA2VET VALUE RATE 360 365 DATE TO MAT PASSBOOK/CHECKING ACCOUNTS 13005 Library Foundation - UBC 10,000.00 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS . $ 10,000.00 40 04/14/1998 City General Fund PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT LOCAL AGENCY INVESTMENT FUNDS 12000 Local Agency Investment Fun 19,842,222.91 19,842,222.91 .19,842,222.91 5.744 5.665 5.744 1 PASSBOOK/CHECKING ACCOUNTS . , 13007 Main Account (Sweep) - UBC 10,338,546.03 10,338,546.03 10,338,546.03 4.630 4.567 4.630 1 FEDERAL AGENCY ISSUES - COUPON 14016 Federal Farm Credit Bank 08/04/97 3,000,000.00 3,000,000.00 3,012,187.50 6.000 6.000 6.083 08/04/00 856 14007 Federal Home Loan Bank 10/24/96 3,995,652.47 4,000,000.00 4,001,250.00 5.820 6.019 6.102 11/02/98 215 14020 Federal Home Loan Bank 01/14/98 3,000,000.00 3,000,000.00 2,991,562.50 5.802 5.802 5.883 01/14/00 653 14022 Federal Home Loan Bank 01/09/98 1,996,468.75 2,000,000.00 1,992,500.00 6.105 6.145 6.231 01/09/02 1,379 14024 Federal Home Loan Hank 03/03/98 2,996,906.25 3,000,000.00 2,981,250.00 5.935 5.998 6.081 02/13/01 1,049_ 14019 FED HOME LOAN MORTGAGE CORP 09/09/97 2,000,073.27 2,000,000.00 2,000,000.00 5.840 5.636 5.714 04/08/98 7 14021 Federal National Mortgage A 01/05/98 997,075.00 1,000,000.00 997,187.50 5.230 5.689 5.768 11/25/98 238 14023 Federal National Mortgage A 01/14/98 2,000,000.00 2,000,000.00 1,986,250.00 6.010 5.928 6.010 01/14/03 1,749 14018 Tennessee Valley Authority 09/09/97 1,000,490.10 1,000,000.00 990,937.50 5.950 5.836 5.917 09/15/98 167 SUBTOTALS and AVERAGES 20,988,665.84 20,953,125.00 21,000,000.00 5.925 6.007 724 TREASURY SECURITIES - COUPON 16034 United States Treasury 05/31/96 1,999,847.12 2,000,000.00 2,001,250.00 6.000 5.967 6.050 05/31/98 60 16036 United States Treasury 06/26/96 2,995.177.88 3,000,000.00 3,003,750.00 5.875 6.252 6.338 08/15/98 136 16037 United States Treasury 06/26/96 2,976,692.24 3,000,000.00 2,991,562.50 5.125 6.314 6.402 11/30/98 243 16045 United States Treasury 09/05/96 1,998,198.28 2,000,000.00 2,005,000.00 6.125 6.270 6.358 08/31/98 152 16047 United States Treasury 05/01/97 2,002,364.54 2,000,000.00 2,016,875.00 6.375 6.171 6.257 04/30/99 394 16048 United States Treasury 03/21/97 1,980,244.25 2,000,000.00 1,990,000.00 5.000 6.124 6.209 02/15/99 320 SUBTOTALS and AVERAGES 13,952,524.31 14,008,437.50 14,000,000.00 6.197 6.283 213 TOTAL INVESTMENTS and AVG. $ 65,121,959.09 65,142,331.44 • 65,180;768.94 5.688% 5.767% 280 • • 41 04/14/1998 City General Fund PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 City Main Account - HofA 0.00 0.000 0.000 0.000 13002 Hank of America - Savings 0.00 2.000 1.973 2.000 13006 City Main Account - VBC 395,857.53 0.000 0.000 0.000 SUBTOTALS and AVERAGES 395,857.53 0.000 0.000 Accrued Interest at Purchase 15,702.78 TOTAL CASH $ 411,560.31 TOTAL CASH and INVESTMENTS $ 65,533,519.40 42 04/14/1998 CITY LOAN TO RDA PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT 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 1,187 • TOTAL INVESTMENTS and AVG. $ 19,000,000.00 19,000,000.00 19,000,000.00 5.462% 5.538% 1,187 • 43 04/14/1998 Office Complex PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS CITY MARCH 31, 1998 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 13012 Office Complex (Sweep) - UB 555,597.73 555,597.73 555,597.73 4.670 4.606 4.670 1 TOTAL INVESTMENTS and AVG. $ 555,597.73 ' 555,597.73 555,597.73 4.606% 4.670% 1 44 04/14/1998 Office Complex PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH CITY MARCH 31, 1998 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 13003 Office Complex Checking - BofA 0.00 0.000 0.000 0.000 13004 Office Complex Trust - BofA 0.00 0.000 0.000 0.000 13008 Office Complex Checking - UBC - 51,287.77 0.000 0.000 0.000 13011 Office Complex Trust - UBC 23,990.41 0.000 0.000 0.000 SUBTOTALS and AVERAGES 75,278.18 0.000 0.000 TOTAL CASH and INVESTMENTS $ 630,875.91 • 45 N c '� 2 0 0 0 O o 0 0 0 HI H IH Ill m 0 • U p In 0 N In 0 0 co m m 0 (n m N m In W La w W W co W co W W W W W • o Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y Y > } >- >- y } y } Y } > > E o > > > > > > > > > > > > > W V W V W V W U W V W U W U W V W V W U W V W V W V W U I- I- I- I- I- I- I- I- r I- I- I- r I- m Q J a J a J a J a J a J a J a J a J a p Jp a J a J a J a J Y y d y d 0 d 0 d y d y 4 y a N d y d 0 h N a CO d HO 0 d 0 wW 75,0 3° o02 o N° o"Dget) mood U E> �4 9 ��o�4=ill, 2RN a 9 5oek 0 E 0 .E .E =E _ �' 0 0 02 O'1'15`6 0 0 o E and o o y _ _ R.-o -Ec 5 2451. ncq i. 5 5 $ °..t m°co E•"= �� .o m c c yEa°°-"a E c m m No�o m m m fl ooe� jE a0co= d c =eo c c _,m0$ Ed c c °c o-v°JJ tm g u�wiEo 3 �? 5 C cc a =o "E-- `2g bd I!h 0 igg N E_0 a Q_La 2 N` `t+1 ! �wj E 2age- E EmE E E E E n .".E °LB ; E dO O O NjOJ N .O >C N s 000 C @pO0-...:012 O Nco 0O N° C? ..N C C C E° W } N G N a p" M+ LN TNCO am° Eco ��> j OAN C u3=cE EoNa° E $' =7. 2 284) Ocuic .cg O.c4) N 00)ION Z alao £ Q. Z.2 N o N m W LL C) I Z 0 NU o c9 O .2 - - Y 4 Ec o0 a) o m o y ao 00 0 go a) ' °) °) co °E cod y n y n n `mu M� 0 +It y cZ el U N Ea I00 CD IOO t00 in a.) �N (n N y CO > CO M 01 I") M M N CO ° CO l° N 1° 1° l° in 0 Ndo N'O y 9 C o c o o ea = a and N d Cof en 1 o o m iE y do N a y a coE-- Z` Qo ly O >E Z y an m E yi 40 r t0 y t-S qaq O. a O'N F C no VA WN N o 0N E oo2 o C V 10 N 47� C IL O"' 1Vry}�_ >W �Ol y o U '2 a Q N Q C St 5 i -{i0c F m N m '{�°�'I��°o pE o .m0 ado t0 �i'"" of C JL C O Z N $ To- co so N V a s 7 V O 0Ni ry a N ??d m m� e d e > O g Li- 5 U yc m c � . 0 • UQ o co k ; , r) E { • � •l LL i�■ ■ � m E ` 9 fi a s a ` m fr b„ f ■■ salialim fr 1mommor W E _ mco \25 , � ■ 0.41111111101.1.1 a z c Uwe 4t. f 8 m e a 0 f .I Q i 0 , S g I m � .., ....nwniwnn.wwwm:. Z I 8888o87; 888 mr° 88 _ m IC Oe 3 iA S w m w re n _ 0 8 z' 8.8 .. a.� ° � N Fa � h N NCO ND „I co _� v E �j o< ��. _ iL.a.. .® m o . 6 o Z" Z 1lina".m.."'....".0 o e ` 8 m 8 o N 8y } 2 ImN 8V lrC h I & { m& o »: rvw l n w a { o m a N " n E �I L o` t i w O LJ r ate. 0 8 a e 8 m m e 8i O m a' ' n p081 d 88 �pN 3 _ 6 m P N ORI4O tq 4 N 6w�wra e W _ 8 PP -ro - - .�.. 9b...�s- a. r. a o C s 0 m &,ry I . ate a, O y C o : 4 0 0 5 5 vi N a I IO�iPA1MYf____B S O 'o m ' & m o m e A A O P r a a t, z. j E $ 3 a m O` a st E S $ m m 5 0 9 m QIIIIMIKIIIMNIIa a P> LL � 84 r r ,- t Q a lm 5 • a r� r, K, 1 Palm Desert Redevelopment Agency Month-end Investment Report MARCH 31, 1998 TABLE OF CONTENTS INVESTMENT INFORMATION FOR ENTIRE PORTFOLIO Portfolio Master Summary 1 Investment Portfolio Detail - Investments 2 Investment Portfolio Detail - Cash 5 Portfolio Master Investment Activity by Type 6 Investment Activity Summary 9 Distribution of Investments by Type 10 Interest Earnings Summary 11 Investment Portfolio Compliance Checklist 37 INVESTMENT INFORMATION BY FUND/BOND $100 Million Bond 12 $17.5 Million Bond 14 $24 Million Bond 16 $4 Million Bond 18 Low-Mod Set Aside Refunding 20 Project Area #1 - 1997 Refunding 22 1996 Desert Rose Series A 24 1996 Desert Rose Series B 26 Blythe County Court Administration Center 28 Housing Set-aside Series 1998 30 Project Area 4 - Tax Allocation 1998 32 Redevelopment Agency General 34 Self Help 36 04/14/1998 PD Redevelopment Agency PM - 1 PORTFOLIO MASTER SUMMARY RDA MARCH 31, 1998 ACCRUAL AVERAGE ---YIELD TO MATURITY--- PERCENT OF AVERAGE DAYS TO 360 365 INVESTMENTS BOOK VALUE PORTFOLIO TERM MATURITY EQUIVALENT EQUIVALENT Local Agency Investment Funds $ 14,360,709.09 8.63 1 1 5.665 5.744 Federal Agency Issues - Coupon $ 1,499,754.91 0.90 - 431 123 5.851 5.932 • Treasury Securities - Coupon $ 10,427,647.39 6.27 844 • 735 5.583 5.660 Treasury Securities - Discount $ ' 5,920,113.69 3.56 2,339 2,270 5.454 5.529 State & Local Govt Series $ 7,875,028.00 4.73 800 549 0.000 0.000 State & Local Govt Series - Coupon $ 66,429,662.00 39.94 1,728 1,477 • 5.760 5.840 Fidelity Treasury Pool $ 59,830,783.00 35.97 1 1 5.346 5.420 TOTAL INVESTMENTS and AVERAGES $ 166,343,898.28 100.00% 868 744 5.3098 5.3838 CASH Passbook/Checking - No Yield Totals $ 48,891.19 0.000 0.000 (not included in yield calculations) Accrued Interest at Purchase $ 206,685.34 TOTAL CASH and PURCHASE INTEREST $ 255,576.53 TOTAL CASH and INVESTMENTS $ 166,599,474.81 MONTH ENDING FISCAL TOTAL EARNINGS MARCH 31 YEAR TO DATE Current Year $ 745,859.22 $ 6,026,325.75 AVERAGE DAILY BALANCE $ 161,712,885.28 $ 148,237,713.96 EFFECTIVE RATE OF RETURN 5.43% 5.429 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 & IDC Datafeed pricing service. 1 •04/14/1998 PD Redevelopment Agency PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT - AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT LOCAL AGENCY INVESTMENT FUNDS 21000 Local Agency Investment Fun 14,.360,709.09 14,360,709.09 14,360,709.09 5.744 5.665 5.744 1 AVERAGES 14,360,709.09 FEDERAL AGENCY ISSUES COUPON - 15008 R Federal Farm Credit 09/13/96 499,754.91 500,000.00 500,625.00 6.125 6.312 6.400 01/09/98 99 15020 Federal National Mortgage A 10/03/97 1,000,000.00 1,000,000.00 1,000,000.00 5.630 5.621 5.699 08/14/98 135 SUBTOTALS and AVERAGES 2,435,203.68 1,499,754.91 1,500,625.00 ' 1,500,000.00 5.851 5.932 123 FEDERAL AGENCY ISSUES - DISCOUNT AVERAGES 4,550,697.76 TREASURY SECURITIES - COUPON 17013 R Unites States Treasury 07/01/95 106,339.84 104,000.00 107,477.50 7.750 6.098 6.182 11/30/99 608 17083 Unites States Treasury 03/21/97 1,980,244.25 2,000,000.00 1,990,000.00 5.000 6.124 6.209 02/15/99 320 17086 Unites States Treasury 01/22/98 147,650.09 148,000.00 147,537.50 4.750 5.256 5.329 08/31/98 152 • 17087 Unites States Treasury 01/22/98 151,195.44 151,000.00 150,905.63 5.500 5.273 5.347 02/28/99 333 17088 Unites States Treasury 01/22/98 156,089.72 155,000.00 155,532.81 5.875 5.274 5.347 08/31/99 517 17089 Unites States Treasury 01/22/98 165,096.87 160,000.00 164,300.00 7.125 5.266 5.339 02/29/00 699 17090 Unites States Treasury 01/22/96 169,295.89 166,000.00 168,282.50 6.250 5.282 5.355 08/31/00 883 17091 Unites States Treasury 01/22/98 171,172.41 170,000.00 169,840.63 5.625 5.289 5.363 02/28/01 1,064 17092 Unites States Treasury 01/22/98 181,915.44 176,000.00 180,400.00 6.500 5.329 5.403 08/31/01 1,248 17093 Unites States Treasury 01/22/98 186,125.93 181,000.00 184,506.8E 6.250 5.357 5.431 02/28/02 1,429 17095 Unites States Treasury 01/22/98 436,032.54 422,700.00 431,814.47 6.250 5.357 5.432 08/31/02 1,613 17096 Unites States Treasury 01/22/98 417,980.56 405,200.00 413,937.13 6.250 5.357 5.432 08/31/02 1,613 17097 Unites States Treasury 01/22/98 9,387.02 9,100.00 9,296.22 6.250 5.357 5.432 08/31/02 1,613 17098 Unites States Treasury 03/10/98 1,384,488.93 1,368,000.00 1,383,390.00 6.125 5.523 5.599 09/30/00 913 17099 Unites States Treasury 03/10/98 1,581,574.89 1,547,000.00 1,580,357.19 6.375 5.582 5.659 09/30/01 1,278 17100 Unites States Treasury 03/10/98 1,505,734.19 1,511,000.00 1,505,805.94 4.750 5.390 5.465 09/30/98 182 17101 Unites States Treasury 03/10/98 1,677,523.3E 1,613,000.00 1,676,136.88 5.750 5.480 5.556 09/30/99 547 SUBTOTALS and AVERAGES 10,578,013.79 10,427,847.39 10,419,521.28 10,347,000.00 5.583 5.660 735 TREASURY SECURITIES - DISCOUNT 18023 Unites States Treasury 01/22/98 150,794.82 198,000.00 150,603.75 4.704 5.374 5.449 02/15/03 1,781 18025 Unites States Treasury 01/22/98 130,167.96 181,000.00 129,810.94 4.628 5.434 5.509 02/15/04 2,146 18027 Unites States Treasury 01/22/98 4,989,671.22 7,143,000.00 4,980,010.31 4.590 5.464 5.540 08/15/04 2,328 18028 Unites States Treasury 01/22/98 394,279.47 532,400.00 393,144.13 4.662 5.395 5.470 08/15/03 1,962 18029 Unites States Treasury 01/22/98 255,200.42 344,600.00 254,465.56 4.662 5.395 5.470 08/15/03 1,962 SUBTOTALS and AVERAGES 5,920,113.89 5,920,113.89 5,908,034.69 8,399,000.00 5.454 5.529 2,270 • • n4/14/1998 PD Redevelopment Agency PN - 3 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT STATE & LOCAL GOVT SERIES 19006 State & Local Govt Ser Secu 07/24/97 1,542,871.00 1,542,871.00 1,542,871.00 0.000 0.000 0.000 04/01/98 0 19007 State & Local Govt Ser Secu 07/24/97 361,813.00 361,813.00 361,813.00 0.000 0.000 0.000 04/08/98 7 19008 State & Local Govt Ser Secu 07/24/97 , . 239,715.00 239,715.00 239,715.00 0.000 0.000 0.000 10/01/98 183 19009 State & Local Govt Ser Secu 07/24/97 12,657.00 12,657.00 12,657.00 0.000 0.000 0.000 03/25/99 358 19010 State & Local Govt Ser SeCU 07/24/97 1,581,417.00 1,581,417.00 1,581,417.00 0.000 0.000 0.000 04/01/99 365 19011 State & Local Govt Ser Secu 07/24/97 12,656.00 12,656.00 12,656.00 0.000 0.000 0.000 09/16/99 533 19012 State & Local Govt Ser Secu 07/24/97 177,191.00 177,191.00 177,191.00 0.000 0.000 0.000 10/01/99 548 19013 State & Local Govt Ser Secu 07/24/97 12,657.00 12,657.00 12,657.00 0.000 0.000 0.000 03/09/00 708 19014 State & Local Govt Ser Secu 07/24/97 1,622,191.00 1,622,191.00 1,622,191.00 0.000 0.000 0.000 04/01/00 731 19015 State & Local Govt Set Secu 07/24/97 361,813.00 361,813.00 361,813.00 0.000 0.000 0.000 04/12/00 742 19016 State & Local Govt Ser Secu 07/24/97 158,275.00 158,275.00 158,275.00 0.000 0.000 0.000 10/05/00 918 19017 State & Local Govt Ser Secu 07/24/97 12,656.00 12,656.00 12,656.00 0.000 0.000 0.000 03/29/01 1,093 19018 State & Local Govt Ser Secu 07/24/97 1,664,977.00 1,664,977.00 1,664,977.00 0.000 0.000 0.000 04/01/01 1,096 19019 State & Local Govt Ser Secu 07/24/97 12,656.00 12,656.00 12,656.00 0.000 0.000 0.000 09/20/01 1,268 19020 State & Local Govt Ser Secu 07/24/97 88,827.00 88,827.00 88,827.00 0.000 0.000 0.000 10/01/01 1,279 19021 State & Local Govt Ser Secu 07/24/97 12,656.00 12,656.00 12,656.00 0.000 0.000 0.000 03/14/02 1,443 SUBTOTALS and AVERAGES 7,923,086.71 7,875,028.00 7,875,026.00 7,875,028.00 0.000 0.000 549 STATE & LOCAL GOVT SERIES - COUPON 19500 State & Local Govt Ser Secu 07/24/97 5,686,827.00 5,686,827.00 5,686,827.00 3.165 3.122 3.165 04/01/02 1,461 19501 State & Local Govt Ser Secu 07/24/97 60,742,835.00 60,742,835.00 60,742,835.00 6.090 6.007 6.090 04/18/02 1,478 SUBTOTALS and AVERAGES 66,429,662.00 66,429,662,,00 66,429,662.00 66,429,662.00 5.760 5.840 1,477 FIDELITY TREASURY POOL 11002 I Fidelity Institutional Cash 9,132,064.00 9,132,064.00 9,132,064.00 5.420 5.346 5.420 1 11003 R Fidelity Institutional Cash 767,142.00 767,142.00 767,142.00 5.420 5.346 5.420 1 11004 E Fidelity Institutional Cash 16,989,406.00 16,989,406.00 16,989,406.00 5.420 5.346 5.420 1 11005 I Fidelity Institutional Cash 1,600,289.00 1,600,269.00 1,600,269.00 5.420 5.346 5.420 1 11006 R Fidelity Institutional Cash 25,603.00 25,603.00 25,603.00 5.420 5.346 5.420 1 11008 R Fidelity Institutional Cash 1,659,507.00 1,659,507.00 1,659,507.00 5.420 5.346 5.420 1 11009 I Fidelity Institutional Cash 1,807,334.00 1,807,334.00 1,807,334.00 5.420 5.346 5.420 1 11010 I Fidelity Institutional Cash 8,712,451.00 8,712,451.00 8,712,451.00 5.420 5.346 5.420 1 11011 R Fidelity Institutional Cash 2,689,917.00 2,689,917.00 2,689,917.00 5.420 5.346 5.420 1 11012 E Fidelity Institutional Cash 0.00 0.00 0.00 5.210 5.139 5.210 1 11018 Fidelity Institutional Cash 584,455.00 584,455.00 584,455.00 5.420 5.346 5.420 1 11019 Fidelity Institutional Cash 0.00 0.00 0.00 5.360 5.267 5.360 1 11020 Fidelity Institutional Cash 0.00 0.00 0.00 5.160 5.089 5.160 1 11021 Fidelity Institutional Cash 0.00 0.00 0.00 5.360 5.287 5.360 1 11022 Fidelity Institutional Cash 477.00 477.00 477.00 5.420 5.346 5.420 1 3 • '04/14/1998 PD Redevelopment Agency PM - 4 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11023 Fidelity Institutional Cash 1.00 1.00 1.00 5.440 5.365 5.440 1 11025 Fidelity Institutional Cash 0.0.0 0.00 0.00 5.360 5.287 5.360 1 11026 Fidelity Institutional Cash 0.00 0.00 0.00 5.440 5.365 5.440 1 11027 E Fidelity Institutional Cash 2,759,793.00 2,759,793.00 2,759,793.00 5,420 5.346 5.420 1 11028 Fidelity Institutional Cash 117.00 117.00 117.00 5.420 5.346 5.420 1 11029 Fidelity Institutional Cash 868,388.00 868,388.00 868,388.00 5.420 5.346 5.420 1 11030 R Fidelity Institutional Cash 670,149.00 670,149.00 670,149.00 5.420 5.346 5.420 1 11031 Fidelity Institutional Cash 8.00 8.00 8.00 5.360 5.287 5.360 1 11032 Fidelity Institutional Cash 0.00 0.00 0.00 5.150 5.079 5.150 1 11037 Fidelity Institutional Cash 0.00 0.00 0.00 5.420 5.346 5.420 1 - 11038 Fidelity Institutional Cash 110.00 110.00 110.00 5.420 5.346 5.420 1 11039 R Fidelity Institutional Cash 37,843.00 37,843.00 37,843.00 5.420 5.346 5.420 1 11040 Fidelity Institutional Cash 59.00 59.00 59.00 5.420 5.346 5.420 1 11041 I Fidelity Institutional Cash 101,832.00 101,832.00 101,832.00 5.420 5.346 5.420 1 11042 Fidelity Institutional Cash 12.00 12.00 12.00 5.260 5.188 5.260 1 11044 Fidelity Institutional Cash 35,126.00 35,126.00 35,126.00 5.420 5.346 5.420 1 11046 Fidelity Institutional Cash 15.00 15.00 15.00 5.420 5.346 5.420 1 - 11047 Fidelity Institutional Cash 1,088,000.00 1,088,000.00 1,088,000.00 5.420 5.346 5.420 1 1104E Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 11049 Fidelity Institutional Cash 64.00 64.00 64.00 5.420 5.346 5.420 1 11050 Fidelity Institutional Cash 2,591.00 2,591.00 2,591.00 5.420 5.396 5.420 1 11051 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 11052 Fidelity Institutional Cash 16,898.00 16,898.00 16,898.00 5.420 5.346 5.420 1 11053 Fidelity Institutional Cash 842,792.00 842,792.00 842,792.00 5.420 5.346 5.420 1 11054 Fidelity Institutional Cash 53,667.00 53,667.00 53,667.00 5.420 5.346 5.420 1 11055 Fidelity Institutional Cash 15,969.00 15,969.00 15,969.00 5.420 5.346 5.420 1 11056 Fidelity Institutional Cash 2,814,883.00 2,814,683.00 2,814,683.00 5.420 5.346 5.420 1 11057 Fidelity Institutional Cash 18,695.00 18,695.00 18,695.00 5.420 5.346 5.420 1 11058 Fidelity Institutional Cash 131,669.00 131,669.00 131,669.00 5.420 5.346 5.420 1 11060 Fidelity Institutional Cash 18,472.00 18,472.00 18,472.00 5.480 5.405 5.480- 1 11061 Fidelity Institutional Cash 90,000.00 90,000.00 90,000.00 5.420 5.346 5.420 1 11062 Fidelity Institutional Cash 4,302,152.00 4,302,152.00 4,302,152.00 5.420 5.346 5.420 1 11063 Fidelity Institutional Cash 175,355.00 175,355.00 175,355.00 5.420 5.346 5.420 1 11064 Fidelity Institutional Cash 13,893.00 13,893.00 13,893.00 5.420 5.346 5.420 1 11066 Fidelity Institutional Cash 1,803,805.00 1,803,805.00 1,803,805.00 5.420 5.346 5.420 1 11068 Fidelity Institutional Cash 0.00 0.00 0.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 49,466,307.35 59,830,783.00 59,830,783.00 59,830,783.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 166,343,898.28 166,324,363.06 161,663,994.28 168,742,182.09 5.309% 5.383% 744 4 '04/14/1998 PD Redevelopment Agency PM - 5 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 ACCRUAL INVESTMENT AVERAGE PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER BALANCE DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT PASSBOOK/CHECKING 25002 B of A - Self Help Checking 48,866.40 0.000 0.000 0.000 AVERAGES 48,891.00 - Accrued Interest at Purchase - 206,685.34 TOTAL CASH $ 255,576.53 TOTAL CASH and INVESTMENTS $ 161,712,885.28 166,599,474.81 • • )04/14/1998 PD Redevelopment Agency PM - 6 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE RDA MARCH 1, 1998 - MARCH 31, 1998 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT # ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE LOCAL AGENCY INVESTMENT FUNDS (Monthly Summary) 21000 Local Agency Investment Fund 5.744 14,360,709.09 PASSBOOK/CHECKING (Monthly Summary) 25002 - B of A - Self Help Checking 0.000 0.00 CASH WITH TRUSTEE -FIRST TRUST (Monthly Summary) 26000 Cash with Trustee 0.000 0.38 26001 Cash with Trustee 0.000 26002 Cash with Trustee 0.000 0.72 26003 Cash with Trustee 0.000 1.15 26004 Cash with Trustee 0.000 0.64 26005 Cash with Trustee 0.000 0.72 26006 Cash with Trustee 0.000 26007 Cash with Trustee 0.000 0.08 26008 Cash with Trustee 0.000 1.67 26009 Cash with Trustee 0.000 26011 Cash with Trustee 0.000 0.04 26013 Cash with Trustee 0.000 26014 Cash with Trustee 0.000 0.29 26015 Cash with Trustee 0.000 1.06 SUBTOTALS and ENDING BALANCE 3.26 3.49 0.00 FEDERAL AGENCY ISSUES - COUPON 15010 R Federal Home Loan Mortgage Cor 5.800 03/30/1998 1,000,000.00 1,492,754.91 FEDERAL AGENCY ISSUES - DISCOUNT 16013 E Federal National Mortgage Assc 5.380 03/30/1998 4,864,752.78 0.00 TREASURY SECURITIES - COUPON 17069 Unites States Treasury 6.125 03/31/1998 2,000,000.00 17098 Unites States Treasury 6.125 03/10/1998 1,384,886.25 17099 Unites States Treasury 6.375 03/10/1998 1,582,170.08 17100 Unites States Treasury 4.750 03/10/1998 1,505,097.66 17101 Unites States Treasury 5.750 03/10/1998 1,677,705.31 SUBTOTALS and ENDING BALANCE 6,149,859.30 2,000,000.00 10,427,847.39 6 '04/14/1998 PD Redevelopment Agency PM - 7 PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE RDA MARCH 1, 1998 - MARCH 31, 1998 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT it ISSUER RATE DATE OR DEPOSITS .OR WITHDRAWALS BALANCE TREASURY SECURITIES - DISCOUNT _ 5,920,113.89 STATE & LOCAL GOVT SERIES 19005 State & Local Govt Ser Securit 0.000 03/05/1998 372,455.00 7,875,028.00 STATE & LOCAL GOVT SERIES - COUPON 66,429,662.00 FIDELITY TREASURY POOL (Monthly Summary) 11002 I Fidelity Institutional Cash 5.420 34,987.00 11003 R Fidelity Institutional Cash 5.420 2,939.00 11004 E Fidelity Institutional Cash 5.420 5,045,937.00 11005 I Fidelity Institutional Cash 5.420 6,131.00 11006 R Fidelity Institutional Cash 5.420 98.00 11008 R Fidelity Institutional Cash 5.420 6,358.00 11009 I Fidelity Institutional Cash 5.420 6,925.00 11010 I Fidelity Institutional Cash 5.420 33,896.00 135,076.00 11011 R Fidelity Institutional Cash 5.420 1,037,129.00 11012 B Fidelity Institutional Cash 5.210 11018 Fidelity Institutional Cash 5.420 570,617.00 108,073.00 11019 Fidelity Institutional Cash 5.360 11020 Fidelity Institutional Cash 5.160 11021 Fidelity Institutional Cash 5.360 11022 Fidelity Institutional Cash 5.420 137.00 11023 Fidelity Institutional Cash 5.440 11025 Fidelity Institutional Cash 5.360 11026 Fidelity Institutional Cash 5.440 • 11027 E Fidelity Institutional Cash 5.420 10,573.00 11028 Fidelity Institutional Cash 5.420 33.00 11029 Fidelity Institutional Cash 5.420 868,063.00 11030 R Fidelity Institutional Cash 5.420 2,568.00 11031 Fidelity Institutional Cash 5.360 11032 Fidelity Institutional Cash 5.150 11037 Fidelity Institutional Cash 5.420 478,514.00 478,514.00 11038 Fidelity Institutional Cash 5.420 1.00 11039 R Fidelity Institutional Cash 5.420 207.00 4,011-.00 11040 Fidelity Institutional Cash 5.420 139,019.00 11041 I Fidelity Institutional Cash 5.420 388.00 11042 Fidelity Institutional Cash 5.260 7 .04/14/1996 PD Redevelopment Agency PM - B PORTFOLIO MASTER INVESTMENT ACTIVITY BY TYPE RDA MARCH 1, 1998 - MARCH 31, 1998 ACCRUAL STATED TRANSACTION PURCHASES SALES/MATURITIES TYPE INVESTMENT # ISSUER RATE DATE OR DEPOSITS OR WITHDRAWALS BALANCE 11044 Fidelity Institutional Cash 5.420 126.00 11046 Fidelity Institutional Cash . 5.420 3,921.00 11047 . Fidelity Institutional Cash 5.420 4,352.00 47,688.00 11048 Fidelity Institutional Cash 5.220 11049 - Fidelity Institutional Cash 5.420 1.00 11050 Fidelity Institutional Cash 5.420 10.00 11051 Fidelity Institutional Cash 5.220 11052 Fidelity Institutional Cash 5.420 60.00 11053 Fidelity Institutional Cash 5.420 237,935.00 3,386,109.00' 11054 Fidelity Institutional Cash 5.420 47,688.00 195,670.00 11055 Fidelity Institutional Cash 5.420 4,110.00 11056 Fidelity Institutional Cash 5.420 2,568,425.00 11057 Fidelity Institutional Cash 5.420 74.00 11058 Fidelity Institutional Cash 5.420 546.00 11060 Fidelity Institutional Cash 5.480 11061 Fidelity Institutional Cash 5.420 120,000.00 30,000.00 11062 Fidelity Institutional Cash 5.420 4,302,152.00 11063 Fidelity Institutional Cash 5.420 175,355.00 • 11064 Fidelity Institutional Cash 5.420 13,893.00 11066 Fidelity Institutional Cash 5.420 1,803,805.00 11068 Fidelity Institutional Cash 5.420 2,567,450.00 2,567,450.00 SUBTOTALS and ENDING BALANCE 19,951,483.00 7,095,531.00 59,830,783.00 • TOTALS 26,101,345.56 15,332,742.27 166,343,898.28 8 04/14/1998 PM - 9 PD Redevelopment Agency RDA INVESTMENT ACTIVITY SUMMARY ACCRUAL MARCH 1997 through MARCH 1998 YIELD TO MATURITY MANAGED NUMBER OF - NUMBER OF AVERAGE MONTH NUMBER OF TOTAL 360 365 POOL SECURITIES SECURITIES AVERAGE DAYS TO END YEAR SECURITIES INVESTED EQUIV EQUIV RATE PURCHASED MATURED/SOLD TERM MATURITY March 97 91 70,533,057.43 5.516 5.592 5.218 1 3 341 194 April 97 97 80,575,286.74 5.582 5.660 5.220 2 2 368 213 May 97 95 78,585,626.60 5.616 5.694 5.309 0 4 361 198 June 97 87 85,625,456.78 5.494 5.570 5.360 3 13 199 101 July 97 95 154,112,637.63 5.259 5.332 5.630 24 4 880 820 August 97 95 153,763,674.63 5.274 5.348 5.679 0 0 882 800 September 97 91 149,291,970.28 5.299 5.372 5.707 1 5 900 809 October 97 95 152,975,170.39 5.288 5.362 5.680 4 4 878 771 November 97 90 150,773,070.79 5.291 5.364 5.680 0 5 876 760 December 97 89 153,392,308.92 5.308 5.381 5.680 0 4 839 727 January 98 102 155,037,209.70 5.323 5.397 5.744 17 4 922 807 February 98 101 155,592,167.75 5.317 5.391 5.744 0 2 919 788 March 98 109 166,343,898.28 5.309 5.383 5.744 4 5 868 744 AVERAGES 95 $ 131,277,048.92 5.376% 5.450% 5.569% 4 4 710 595 9 04/14/1998 PM - 10 PD Redevelopment Agency RDA DISTRIBUTION OF INVESTMENTS BY TYPE ACCRUAL MARCH 1997 through MARCH 1998 MONTH TYPES OF INVESTMENTS END YEAR BCD SCD MD1 LAS PA1 PA2 PA3 MTN BAC COM FAC FAD TRC TRD MCI MC2 LA1 March 97 0.1 -14.9 8.8 0.6 40.8 34.9 April 97 0.1 13.0 23.2 3.7 35.7 24.3 May 97 0.1 17.2 23.8 3.8 29.2 25.9 June 97 0.5 0.1 15.0 15.3 22.5 46.6 July 97 0.3 8.4 7.2. 11.9 6.2 43.1 22.9 August 97 0.3 8.4 7.2 11.9 6.2 43.2 22.7 September 97 8.7 7.4 3.3 8.2 6.2 44.5 21.7 October 97 8.6 7.9 3.2 7.4 6.1 43.4 23.4 November 97 8.7 6.7 3.2 6.7 6.0 44.1 24.6 December 97 9.2 4.2 3.2 3.3 5.6 43.3 31.1 January 98 9.3 1.6 3.1 4.1 3.8 5.3 42.9 29.9 February 98 9.2 1.6 3.1 4.0 3.8 5.3 42.7 30.2 March 98 8.6 0.9 6.3 3.6 4.7 39.9 36.0 AVERAGES 0.1& 0.0% 10.7% 8.98 2.18 14.8% 0.9& 4.05 29.8t 28.8& BCD - Certificates of Deposit - Bank SCD - Certificates of Deposit - S & L MD1 - Treasury Securities - T-Bill LA5 - Local Agency Investment Funds PA1 - Passbook/Checking PA2 - Cash with Trustee -First Trust PA3 - Checking/Self Help Housing Loans MTN - Medium Term Notes BAC - Bankers Acceptances COM - Commercial Paper - Discount FAC - Federal Agency Issues - Coupon FAD - Federal Agency Issues - Discount TRC - Treasury Securities - Coupon TRD - Treasury Securities - Discount MC1 - State & Local Govt Series MC2 - State & Local Govt Series - Coupon . LA1 - Fidelity Treasury Pool 10 04/14/1998 PM - 11 PD Redevelopment Agency RDA INTEREST EARNINGS SUMMARY ACCRUAL MARCH 31, 1998 MONTH ENDING FISnaI MARCH 31, 1998 YEAR TO DATE CD/Coupon/Discount Investments: Interest Collected $ 240,525.72 $ 2,329,914.63 PLUS Accrued Interest at End of Period 1,902,582.37 - 1,902,582.37 LESS Accrued Interest at Beginning'of Period ( 1,695,034.25) ( 448,108.60) Interest Earned during Period $ 448,073.84 3,784,388.40 ADJUSTED by Premiums and Discounts -29.99 20,543.93 ADJUSTED by Capital Gains or Losses 0.00 0.00 Earnings during Period 448,043.85 $ 3,804,932.33 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 -EiS69ii'__'a_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 $ 191,976.13 $ 2,066,965.02 PLUS Accrued Interest at End of Period 107,432.39 107,432.39 LESS Accrued Interest at Beginning of Period ( 1,593.15) ( -46,996.01) Interest Earned during Period $ 297,815.37 $ 2,221,393.42 TOTAL Interest Earned during Period $ 745,889.21 $ 6,005,781.82 TOTAL Ajuetments from Premiums and Discounts $ -29.99 $ 20,543.93 TOTAL Capital Gains or Losses $ 0.00 $ 0.00 TOTAL Earnings during Period $ 745,859.22 $ 6,026,325.75 11 04/14/1998 RDA $100 Million Bond PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE HOOK VALUE FACE VALUE MARXET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11010 I Fidelity Institutional Cash 8,712,451.00 8,712,451.00 8,712,451.00 5.420 5.346 5.420 1 11011 R Fidelity Institutional Cash 2,689,917.00 2,689,917.00 2,689,917.00 5.420 5.346 5.420 1 . 11012 E Fidelity Institutional Cash 0.00 0.00 0.00 5.210 5.139 5.210 1 11018 Fidelity Institutional Cash 584,455.00 584,455.00 584,455.00 5.420 5.346 5.420 1 - 11037 Fidelity Institutional Cash 0.00 0.00 0.00 5.420 .5.346 5.420 SUBTOTALS and AVERAGES 11,986,823.00 11,986,823.00 11,986,823.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 11,986,823.00 11,986,823.00 11,986,823.00 5.346% 5.4208 1 • 12 04/14/1998 RDA $100 Million Bond PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 26000 Cash with Trustee 1.47 0.000 0.000 0.000 • TOTAL CASH and INVESTMENTS $ 11,966,824.47 • 13 • '04/14/1998 RDA $17.5 Million Bond PM - 2 INVESTMENT PORTFOLIO ➢ETAILS - INVESTMENTS RDA MARCH 31, 1998 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 1,659,507.00 1,659,507.00 1,659,507.00 5.420 5.346 5.420 1 11009 I Fidelity"Institutional Cash 1,807,334.00 1,807,334.00 1,807,334.00 5.420 5.346 5.420 1 11021 Fidelity Institutional Cash 0.00 0.00 0.00 5.360 5.287 5.360 1 11022 Fidelity Institutional Cash 477.00 477.00 477.00 5.420 5.346 5.420 1 11023 Fidelity Institutional Cash 1.00 1.00 1.00 5.440 5.365 5.440 1 SUBTOTALS and AVERAGES 3,467,119.00 1,467,119.00 3,467,319.00 5.346 5'.420 1 TOTAL INVESTMENTS and AVG. $ 3,467,319.00 3,467,319.00 3,467,319.00 5.346$ 5.4204 1 14 04/14/1998 RDA $17.5 Million Bond PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 26005 Cash with Trustee 1.48 _ 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 3,467,320.48 15 '04/14/1998 RDA $24 Million Bond PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 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 11002 I Fidelity Institutional Cash 9,132,064.00 9,132,064.00 9,132,064.00 5.420 5.346 5.420 1 11003 R Fidelity Institutional Cash 767,142..00 767,142.00 767,142.00 5.420 5.346 5.420 1 11004 E Fidelity Institutional Cash 16,989,406.00 16,989,406.00 16,989,406.00 5.420 5.346 5.420 1 11019 Fidelity Institutional Cash 0.00 0.00 0.00 5.360 5.287 5.360 . 1 11020 Fidelity Institutional Cash 0.00 0.00 0.00 5.160 5.089 5.160 1 11029 Fidelity Institutional Cash 868,388.00 868,388.00 868,388.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 27,757,000.00 27,757,000.00 27,757,000.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 27,757,000.00 27,757,000.00 27,757,000,00 5.346% 5.420% 1 • 16 04/14/1998 RDA $24 Million Bond PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 26002 Cash with Trustee 2.37 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 27,057,002.37 • 17 04/14/1998 RDA $4 Million Bond PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT TREASURY SECURITIES - COUPON 17013 R Unites States Treasury 07/01/95 106,339.84 104,000.00 107,477.50 7.750 6.098 6.182 11/30/99 608 FIDELITY TREASURY POOL 11005 I Fidelity Institutional Cash 1,600,269.00 ' 1,600,269.00 1,600,269.00 5.420 5.346 5.420 1 . 11006 R Fidelity Institutional Cash 25,603.00 25,603.00 25,603.00 5.420 _5.346 5.420 1 11025 Fidelity Institutional Cash 0.00 - 0.00 0.00 5.360 5.287 5.360 1 11026 Fidelity Institutional Cash 0.00 0.00 0.00 5.440 5.365 5.440 1 11027 E Fidelity Institutional Cash 2,759,793.00 2,759,793.00 2,759,793.00 5.420 5.346 5.420 1 11028 Fidelity Institutional Cash 117.00 117.00 117.00 5.420 5.346 5.420 1 • SUBTOTALS and AVERAGES 4,385,782.00 4,385,782.00 4,365,782.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 4,492,121.84 4,493,259.50 4,489,782.00 5.364% 5.438$ 15 18 04/14/1998 RDA $4 Million Bond PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 26003 Cash with Trustee 2.76 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 4,492,124.60 19 0i/14/1998 Low Mod Set-aside Refunding PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER ➢ATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FIDELITY TREASURY POOL 11030 R Fidelity Institutional Cash 670,149.00 670,149.00 670,149.00 5.420 5.346 5.420 1 11031 Fidelity Institutional Cash 8.00 8.00 8.00 5.360 5.287 5.360 1 11032 . Fidelity Institutional Cash 0.00 0.00 0.00 5.150 5.079 5.150 1 11040 Fidelity Institutional Cash 59.00 59.00 59.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 670,216.00 670,216.00 670,216.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 670,216.00 670,216.00 670,216.00 5.3464 5.420% 1 . • 20 04/14/1998 Low Mod Set-aside Refunding PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1992 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 and INVESTMENTS $ 670,217.69 • 21 • • 04/14/1998 Proj Area 1-1997 refunding PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT STATE & LOCAL GOVT SERIES 19006 State & Local Govt Ser Secu 07/24/97 1,542,871.00 1,542,871.00 1,542,871.00 0.000 0.000 0.000 04/01/98 0 19007 State & Local Govt Ser Secu 07/24/97 361,813.00 361,813.00 361,813.00 0.000 0.000 0.000 04/08/98 7 19008 State & Local Govt Ser Secu 07/24/97 239,715.00 239,715.00 239,715.00 0.000 0.000 0.000 10/01/98 183 19009 State & Local Govt Ser Secu 07/24/97 12,657.00 12,657.00 12,657.00 0:000 0.000 0.000 03/25/99 358 19010 State & Local Govt Ser Secu 07/24/97 1,581,417.00 1,581,417.00 1,581,417.00 0.000 0.000 0.000 04/01/99 365 19011 State & Local Govt Ser Secu 07/24/97 12,656.00 12,656.00 12,656.00 0.000 0.000 0.000 09/16/99 533 19012 State & Local Govt Ser Secu 07/24/97 177,191.00 177,191.00 177,191.00 0.000 0.000 0.000 10/01/99 548 19013 State & Local Govt Ser Secu 07/24/97 12,657.00 12,657.00 12,657.00 0.000 0.000 0.000 03/09/00 708 19014 State & Local Govt Ser Secu 07/24/97 1,622,191.00 1,622,191.00 1,622,191.00 0.000 0.000 0.000 04/01/00 731 19015 State & Local Govt Ser Secu 07/24/97 361,813.00 361,813.00 361,813.00 0.000 0.000 0.000 04/12/00 742 - 19016 State & Local Govt Ser Secu 07/24/97 158,275.00 158,275.00 158,275.00 0.000 0.000 0.000 10/05/00 918 _ 19017 State & Local Govt Ser Secu 07/24/97 12,656.00 12,656.00 12,656.00 0.000 0.000 0.000 03/29/01 1,093 19018 State & Local Govt Ser Secu 07/24/97 1,664,977.00 1,664,977.00 1,664,977.00 0.000 0.000 0.000 04/01/01 1,096 19019 State & Local Govt Ser Secu 07/24/97 12,656.00 12,656.00 12,656.00 0.000 0.000 0.000 09/20/01 1,268 19020 State & Local Govt Ser Secu 07/24/97 88,827.00 88,827.00 88,827.00 0.000 0.000 0.000 10/01/01 1,279 19021 State & Local Govt Ser Secu-07/24/97 12,656.00 12,656.00 12,656.00 0.000 0.000 0.000 03/14/02 1,443 SUBTOTALS and AVERAGES 7,875,028.00 7,875,028.00 7,875,028.00 0.000 0.000 549 STATE & LOCAL GOVT SERIES - COUPON 19500 State & Local Govt Ser Secu 07/24/97 5,686,827.00 5,686,827.00 5,686,827.00 3.165 3.122 3.165 04/01/02 1,461 19501 State & Local Govt Ser Secu 07/24/97 60,742,835.00 60,742,835.00 60,742,835.00 6.090 6.007 6.090 04/18/02 1,478 SUBTOTALS and AVERAGES 66,429,662.00 66,429,662.00 66,429,662.00 5.760 5.840 1,477 FIDELITY TREASURY POOL 11056 Fidelity Institutional Cash 2,814,683.00 2,814,683.00 2,814,683.00 5.420 5.346 5.420 1 11057 Fidelity Institutional Cash 18,695.00 18,695.00 18,695.00 5.420 5.346 5.420 1 11068 Fidelity Institutional Cash • 0.00 0.00 0.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 2,833,378.00 2,833,378.00 2,833,378.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 77,138,068.00 77,138,068.00 77,138,068.00 5.156% 5.228% 1,32E 22 06/14/1998 Proj Area 1-1997 refunding PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 26011 Cash with Trustee 1.05 0.000 0.000 0.000 • TOTAL CASH and INVESTMENTS $ 77,138,069.05 • 23 04/14/1998 1996 Desert Rose Series A PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 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 11046 Fidelity Institutional Cash 15.00 15.00 15.00 5.420 5.346 5.420 1 11047 Fidelity Institutional Cash 1,088,000.00 1,088,000.00 1,088,000.00 5.420 5.346 5.420 1 11048 Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 11053 Fidelity Institutional Cash 842,792.00 ' 842,792.00 842,792.00 5.420 5.346 5.420 1 11054 Fidelity Institutional Cash 53,667.00 53,667.00 53,667.00 5.420 ,5.346 5.420 1 SUBTOTALS and AVERAGES 1,984,474.00 1,984,474.00 1,984,474.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 1,984,474.00 1,984,474.00 1,984,474.00 5.346% 5.420% 1 24 08/14/1998 1996 Desert Rose Series A PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 26008 Cash with Trustee 4.90 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 1,984,478.90 25 • 04/14/1998 1996 Desert Rose Series B Pm - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 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 64.00 64.00 64.00 5.420 5.346 5.420 1 11050. Fidelity Institutional Cash 2,591.00 2,591.00 2,591.00 5.420 5.346 5.420 1 1105i Fidelity Institutional Cash 0.00 0.00 0.00 5.220 5.148 5.220 1 11052 Fidelity Institutional Cash 16,898.00 16,898.00 16,898.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 19,553.00 19,553.00 19,553.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 19,553.00 19,553.00 19,553.00 5.346% 5.4208 1 26 • 04/14/1998 1996 Desert Rose Series B PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 26009 Cash with Trustee 2.07 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS S 19,555.07 • 27 • 64/14/1998 Blythe County Court Admin Ctr PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT FEDERAL AGENCY ISSUES - COUPON 15008 R Federal Fan Credit 09/13/96 499,754.91 500,000.00 500,625.00 6.125 6.312 6.400 07/09/98 99 FIDELITY TREASURY POOL 11038 Fidelity Institutional Cash 110.00 110.00 110.00 5.420 5.346 5.420. 1 11039 R Fidelity Institutional Cash 37,843.00 37,843.00 37,843.00 5.420 5.346 5.420 1 11041 I Fidelity Institutional Cash 101,832.00 101,832.00 101,832.00 5.420 5.346 5.420 1 11042 Fidelity Institutional Cash 12.00 12.00 12.00 5.260 5.188 5.260 1 11044 Fidelity Institutional Cash 35,126.00 35,126.00 35,126.00 5.420 5.346 5.420 1 11055 Fidelity Institutional Cash 15,969.00 15,969.00 15,969.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 190,892.00 190,892.00 190,892.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 690,646.91 691,517.00 690,892.00 6.045% 6.129% 72 • 28 • 04/14/1998 Blythe County Court Admin Ctr PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 26007 Cash with Trustee 1.56 0.000 0.000 0.000 • TOTAL CASH and INVESTMENTS $ 690,648.47 29 • 0a/14/1999 Housing Set-aside Series 1998 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT • TREASURY SECURITIES - COUPON 17086 Unites States Treasury 01/22/98 147,650.09 148,000.00 147,537.50 4.750 5.256 5.329 08/31/98 152 17087 Unites States Treasury 01/22/98 151,195.44 151,000.00 150,905.63 5.500 5.273 5.347 02/28/99 333 . - 17088 Unites States Treasury 01/22/98 156,089.72 155,000.00 155,532.81 5.875 5.274 5.347 08/31/99 517 17089 Unites States Treasury 01/22/98 165,096.87 ' 160,000.00 164,300.00 7.125 5.266 5.339 02/29/00 699 17090 Unites States Treasury 01/22/98 169,295.89 166,000.00 168,282.50 6.250 ,5.282 5.355 08/31/00 883 17091 Unites states Treasury 01/22/98 171,172.41 ' 170,000.00 169,840.63 5.625 5.289 5.363 02/28/01 1,064 17092 Unites States Treasury 01/22/98 181,915.44 176,000.00 180,400.00 6.500 5.329 5.403 08/31/01 1,248 17093 Unites States Treasury 01/22/98 186,125.93 181,000.00 184,506.88 6.250 5.357 5.431 02/28/02 1,429 17095 Unites States Treasury 01/22/98 436,032.54 422,700.00 431,814.47 6.250 5.357 5.432 08/31/02 1,613 17096 Unites States Treasury 01/22/98 417,980.56 405,200.00 413,937.13 6.250 5.357 5.432 08/31/02 1,613 - 17097 Unites States Treasury 01/22/98 9,387.02 9,100.00 9,296.22 6.250 5.357 5.432 08/31/02 1,613 SUBTOTALS and AVERAGES 2,191,941.91 2,176,353.77 2,144,000.00 5.318 5.392 1,134 TREASURY SECURITIES - DISCOUNT 18023 Unites States Treasury 01/22/98 150,794.82 198,000.00 150,603.75 4.704 5.374 5.449 02/15/03 1,781 18025 Unites States Treasury 01/22/98 130,167.96 181,000.00 129,810.94 4.628 5.434 5.509 02/15/04 2,146 18027 Unites States Treasury 01/22/98 4,989,671.22 7,143,000.00 4,980,010.31 4.590 5.464 5.540 08/15/04 2,328 18028 Unites States Treasury 01/22/98 394,279.47 532,400.00 393,144.13 4.662 5.395 5.470 08/15/03 1,962 18029 Unites States Treasury 01/22/98 255,200.42 344,600.00 254,465.56 4.662 5.395 5.470 08/15/03 1,962 SUBTOTALS and AVERAGES 5,920,113.89 5,908,034.69 8,399,000.00 5.454 5.529 2,270 FIDELITY TREASURY POOL 11058 Fidelity Institutional Cash 131,669.00 131,669.00 131,669.00 5.420 5.346 5.420 1 11066 Fidelity Institutional Cash 1,803,805.00 1,803,805.00 1,803,805.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 1,935,474.00 1,935,474.00 1,935,474.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. 9 10,047,529.80 10,019,862.46 12,470,474.00 5.403% 5.478% 1,585 30 04/14/1998 Housing Set-aside Series 1998 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 26013 Cash with Trustee 0.20 0.000 0.000 0.000 26015 Cash with Trustee 1.06 • 0.000 0.000 0.000 SUBTOTALS and AVERAGES 1.26 0.000 0.000 Accrued Interest at Purchase 51,709.02 TOTAL CASH $ 51,710.28 TOTAL CASH and INVESTMENTS $ 10,099,240.08 • 31 • 64/14/199B Project Area 4 Tax Alloc. 1998 PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT - PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT TREASURY SECURITIES - COUPON 17098 Unites States Treasury 03/10/98 1,384,488.93 1,368,000.00 1,383,390.00 6.125 5.523 5.599 09/30/00 913 17099 Unites States Treasury 03/10/98 1,581,574.89 1,547,000.00 1,580,357.19 6.375 5.582 5.659 09/30/01 1,278 17100 Unites States Treasury 03/10/98 1,505,734.19 1,511,000.0n 1,505,805.94 4.750 5.390 5.465 09/30/98 182 17101 Unites States Treasury 03/10/98 1,677,523.38 1,673,000.00 1,676,136.88 5.750 5.480 5.556 09/30/99 547 SUBTOTALS and AVERAGES 6,149,321.39 6,145,690.01 6,099,000.00 5.494 5.570 728 FIDELITY TREASURY POOL 11061 Fidelity Institutional Cash 90,000.00 90,000.00 90,000.00 5.420 5.346 5.420 1 11062 Fidelity Institutional Cash 4,302,152.00 4,302,152.00 4,302,152.00 5.420 5.346 5.420 1 11063 Fidelity Institutional Cash 175,355.00 175,355.00 175,355.00 5.420 5.346 5.420 1 11064 Fidelity Institutional Cash 13,893.00 13,893.00 13,893.00 5.420 5.346 5.420 1 SUBTOTALS and AVERAGES 4,581,400.00 4,581,400.00 4,581,400.00 5.346 5.420 1 TOTAL INVESTMENTS and AVG. $ 10,730,721.39 10,727,090.01 10,680,400.00 5.431% 5.506% 418 32 b4/14/1998 Project Area 4 Tax Alloc. 1996 PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOR VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT CASH WITH TRUSTEE -FIRST TRUST 26014 Cash with Trustee 0.29 - 0.000 0.000 0.000 Accrued Interest at Purchase . 154,976.32 TOTAL CASH $ 154,976.61 TOTAL CASH and INVESTMENTS $ 10,885,698.00 • 33 64/14/1998 Redevelopment Agency - General PM - 2 INVESTMENT PORTFOLIO DETAILS - INVESTMENTS RDA MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE FACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT LOCAL AGENCY INVESTMENT FUNDS 21000 Local Agency Investment Fun 14,360,709.09 14,360,709.09 14,360,709.09 5.744 5.665 5.744 1 FEDERAL AGENCY ISSUES - COUPON - 15020 Federal National Mortgage A 10/03/97 1,000,000.00 1,000,000.00 1,000,000.00 5,630 5.621 5.699 08/14/98 135 TREASURY SECURITIES - COUPON 17083 Unites States Treasury 03/21/97 1,980,244.25 2,000,000.00 1,990,000.00 5:000 6.124 6.209 02/15/99 320 TOTAL INVESTMENTS and AVG. $ 17,340,953.34 17,350,.709.09 17,360,709.09 5.715% 5.795% 45 • 34 04/14/1998 Redevelopment Agency - General PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 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 • • TOTAL CASH and INVESTMENTS $ 17,340,953.35 • 35 • 04/14/1998 Self Help Checking PM - 3 INVESTMENT PORTFOLIO DETAILS - CASH RDA MARCH 31, 1998 ACCRUAL INVESTMENT PURCHASE STATED --- YTM --- MATURITY DAYS NUMBER ISSUER DATE BOOK VALUE PACE VALUE MARKET VALUE RATE 360 365 DATE TO MAT PASSBOOK/CHECKING 25002 B of A - Self Help Checking 48,866.40 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ 48,866.40 36 0 0 O C c oc 0 o o. o 2 . 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BOX 942809 Date: 02/28/98 SACRAMENTO, CA 94209-•0001 Page: 01 FEBRUARY, 1998 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 CONE AUTH TRANSACTION DATE DATE TYPE NO CALLER AMOUNT BALANCEI BEGINNING BALANCE - REG SL4 , 360 , 709 . u9 ENDING BALANCE - REG $14 , 360 , 709 . 09 GRAND TOTAL S14 , 360 , 709 . 09 SUMMARY TRAN COUNT TOTAL DEPOSIT AMT TOTAL WITHDRAWAL ANT REG 0 $0 . 00 $0 . 00 • POOLED MONEY INVESTMENT ACCOUNT SUMMARY OF INVESTMENT DATA • A COMPARISON OF FEBRUARY 1998 WITH FEBRUARY 1997 (Dollars In Thousands) FEBRUARY.1998e FEBRUARY 1997 CHANGE Average Daily Portfolio $31,140,429 $30,379,056 +$761,373 Accrued Earnings $136,647 $129,929 +$6,718 Effective Yield 5.720 5.575 +.145 Average Life—Month End(in days) 207 260 -53 Total Security Transactions Amount $28,614,910 $21,643,428 +$6,971,482 Number 633 502 +131 Total Time Deposit Transactions Amount $806,200 $450,700 +$355,500 Number 47 38 +9 Average Workday Investment Activity $1,634,506 $1,227,451 +$407,055 Prescribed Demand Account Balances For Services $230,513 $139,307 . +$91,206 For Uncollected Funds $160,258 $194,631 -$34,373 LOCAL AGENCY INVESTMENT FUND* SUMMARY OF ACTIVITY FEBRUARY 1998 BEGINNING BALANCE DEPOSITS WITHDRAWALS MONTH END BALANCE $11,354,332,644.45 $987,609,000.00 $936,935,090.45 $11,405,006,554.00 *Local Agency Investment Fund Invested Through Pooled Money Investment Account State of California Pooled Money Investment Account • Market Valuation 2/28/98 - n los A e i "t untied interese United States Treasury: Bills $ 2,563,542,117.81 $ 2,601,988,888.80 NA Strips $ 73,184,450.00 $ 93,984,750.00 NA Notes $ 5,134,844,231.06 $ 5,138,525,840.00 $ 43,953,553.72 Federal Agency: Bonds $ 1,593,911,758.03 $ 1,593,264,304.70 $ 19,672,222.92 Floaters $ 265,000,000.00 $ 264,972,450.00 $ 1,791,862.40 MBS $ 141,232,317.66 $ 141,019,278.00 $ 833,462.73 GNMA $ 2,497,152.33 $ 2,895,066.60 $ 24,606.31 SBA $ 229,127,242.68 $ 230,457,445.21 $ 2,291,902.97 FHLMC PC $ 24,309,320.98 $ 26,018,922.89 $ 390,311.89 Discount Notes $ 1,105,132,495.34 $ 1,125,519,952.50 NA Bankers Acceptances $ 329,100,821.85 $ 329,227,786.29 NA Corporate: Bonds $ 945,153,839.97 $ 944,646,984.00 $ 20,347,967.33 Floaters $ 530,157,560.87 $ 529,719,215.00 $ 4,280,418.71 CDs $ 6,463,216,592.45 $ 6,457,790,444.37 $ 57,728,313.87 Bank Notes $ 1,075,000,000.00 $ 1,074,636,389.75 $ 12,119,722.24 Repurchase Agreements $ - $ - NA Time Deposits $ 1,222,295,000.00 $ 1,222,295,000.00 NA AB 55&GF Loans $ 1,346,448,930.00 $ 1,346,448,930.00 NA Commercial Paper $ 7,221,958,046.25 $ 7,230,610,784.07 NA Reverse Repurchase $ (245,700,000.00) $ (245,700,000.00) ($1,729,296.25) TOTAL $ 30,020,411,877.28 $ 30,108,322,432.18 $ 161,705,048.85 Estimated Market Value Including Accrued Interest $ 30,270,027,481.03 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. I monthly nc'ms/c'//c'r LAIF EWS 14 r,f ; /,ne.n/ ;Pi,r n(1/1OI2 %7uicl, /99,V State Revenue Anticipation Notes Update Each year, the State Treasurer's Office (STO) sells Revenue Anticipation Notes (RANs) to satisfy the state's short term cash needs at a low borrowing cost. Last year, the STO sold $3 billion worth of RANs maturing on June 30, 1998. The competitive sale drew total bids in excess of $16.7 billion. This summer, the State again plans to borrow approximately$3 billion in RANs. The governor's budget proposal anticipates the sale to take place in July, 1998 with a maturity date for 1998/1999 RANS in late June, 1999. A delay in the passage Of the state budget would delay the sale of the RANs. State of California Revenue Anticipation Notes and Warrants Issued MOMMUMNVOMPIUM4F095001i SAMIOZEMREVIMMAgM009,40,E 4ENSPOOODEMM00004vgaM Year " goad tkle 1994/95 Warrants Series C-O $4.0 July 26,1994 April 25,1996 Notes Series A-C 3.0 August 3,1994 June 28,1995 1995/96 Notes 2.0 April 25,1996 June 28,1996 1996/97 Notes Series A-C 3.0 August 6,1996 June 30,1997 1997/98 Notes 3.0 Septariba 9,1997 June 30,1998 State Treasurer's Office Undergoes Seismic Retrofit A survey was conducted of all st> bulldingsto determine if they could withstand an earthquake of a:,ippgriffightetowsgstottowdesteothat the Jesse M. Unruh building,ttirr ong others,swsuffer significant` age and must;undergo a seismic retrofit. The emphasis of the retrofit will be from the basement to the first floor of the Jesse M. Unruuh building.'The second floorwill have the beams and columns reinforced but will take much less time withless disruption. The seismic project is scheduled tobegin on March 19, 1998 with a completion date of October, 1999. 'During tl s construction period, the State Treasurer's Office and LAIF will continue to do business as usual. Throughout the project,a qualified consulting firm,VERSAR,Inc.,will continuously monitor the air quality and test for hazardous materials. State Treasurer Matt Long Phone 1916) 653-30(11 Local Agency Investment Fund 1=ax (916) 65-1-9931 PO 13oy 94:809 Sacrament°, CA 9-1^_0°-0001 huji /ivvwcvs treasurer ea goy STATE OF CALIFORNIA MATT FONG,Treasurer ' OFFICE OF THE vim SACRAMENTO (: Y OF Y �:;.�� ;l_`:: C? .0 it!iLtOr '98 (ER 30 Pi1 3 18 LOCAL AGENCY INVESTMENT FUND P.O. BOX 942809 Date: 02/28/98 SACRAMENTO, CA 94209 --0001 Page: 01 FEBRUARY,. 1998 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 $19 , 842 , 222 . 91 ENDING BALANCE - REG $19 , 842 , 222 . 91 GRAND TOTAL $19 , 842 , 222 . 91 --------------- SUMMARY TRAN COUNT TOTAL DEPOSIT AMT TOTAL WITHDRAWAL ANT REG 0 $0 . 00 $0 . 00 POOLED MONEY INVESTMENT ACCOUNT SUMMARY OF INVESTMENT DATA A COMPARISON OF FEBRUARY 1998 WITH FEBRUARY 1997 (Dollars in Thousands) FEBRUARY 1998 " FEBRUARY 1997 CHANGE Average Daily Portfolio $31,140,429 $30,379,056 +$761,373 Accrued Earnings $136,647 $129,929 +$6,718 Effective Yield 5.720 5.575 +.145 Average Life—Month End(in clays) 207 260 -53 Total Security Transactions Amount $28,614,910 $21,643,428 +$6,971,482 Number 633 502 +131 Total Time Deposit Transactions Amount $806,200 $450,700 +$355,500 Number 47 38 +9 Average Workday Investment Activity $1,634,506 $1,227,451 +$407,055 Prescribed Demand Account Balances For Services $230,513 $139,307 +$91,206 For Uncollected Funds $160,258 $194,631 -$34,373 LOCAL AGENCY INVESTMENT FUND* SUMMARY OF ACTIVITY FEBRUARY 1998 BEGINNING BALANCE DEPOSITS WITHDRAWALS MONTH END BALANCE $11,354,332,644.45 $987,609,000.00 $936,935,090.45 $11,405,006,554.00 *Local Agency Investment Fund Invested Through Pooled Money Investment Account r State of California Pooled Money Investment Account Market Valuation 2/28/98 Deli ' " 'SAW--ny4,9.04Tifin° k�As t rat V g , k,.. . ,. .r, . ithaed`infareetiOtia , 4Mltirtt t' 8n�5 *rlAccrued Interest=' United States Treasury: Bills $ 2,563,542,117.81 $ 2,601,988,888.80 NA Strips $ 73,184,450.00 $ 93,984,750.00 NA Notes $ 5,134,844,231.06 $ 5,138,525,840.00 $ 43,953,553.72 Federal Agency: Bonds $ 1,593,911,758.03 $ 1,593,264,304.70 $ 19,672,222.92 Floaters $ 265,000,000.00 $ 264,972,450.00 $ 1,791,862.40 MBS $ 141,232,317.66 $ 141,019,278.00 $ 833,462.73 GNMA $ 2,497,152.33 $ 2,895,066.60 $ 24,606.31 SBA $ 229,127,242.68 $ 230,457,445.21 $ 2,291,902.97 FHLMC PC $ 24,309,320.98 $ 26,018,922.89 $ 390,311.89 Discount Notes $ 1,105,132,495.34 $ 1,125,519,952.50 NA Bankers Acceptances $ 329,100,821.85 $ 329,227,786.29 NA Corporate: Bonds $ 945,153,839.97 $ 944,646,984.00 $ 20,347,967.33 Floaters $ 530,157,560.87 $ 529,719,215.00 $ 4,280,418.71 CDs $ 6,463,216,592.45 $ 6,457,790,444.37 $ 57,728,313.87 Bank Notes $ 1,075,000,000.00 $ 1,074,636,389.75 $ 12,119,722.24 Repurchase Agreements $ - $ - NA Time Deposits $ 1,222,295,000.00 $ 1,222,295,000.00 NA AB 55& GF Loans $ 1,346,448,930.00 $ 1,346,448,930.00 NA . Commercial Paper $ 7,221,958,046.25 $ 7,230,610,784.07 NA Reverse Repurchase $ (245,700,000.00) $ (245,700,000.00) ($1,729,296.25) TOTAL $ 30,020,411,877.28 $ 30,108,322,432.18 $ 161,705,048.85 Estimated Market Value Including Accrued Interest $ 30,270,027,481.03 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. nfrol>//it nea�slellei• J4A1Jf' NEWS r,, „lueslazenl I7 j0l712Cl/1.012 /99,5' State Revenue Anticipation Notes Update Each year, the State Treasurer's Office (STO) sells Revenue Anticipation Notes (RANs) to satisfy the state's short term cash needs at a low borrowing cost. Last year, .the STO sold $3 billion worth of RANs maturing on June 30, 1998. The competitive sale drew total bids in excess of $16.7 billion. This summer, the State again plans to borrow approximately$3 billion in RANs. The governor's budget proposal anticipates the sale to take place in July, 1998 with a maturity date for 1998/1999 RANS in late June, 1999. A delay in the passage of the state budget would delay the sale of the RANs. State of California Revenue Anticipation Notes and Warrants Issued 'dips Mah�rity Year . !issued Oahe 1994/95 Warrants Series C-D $4.0 July 26,1994 April 25, 1996 Notes Series A-C 3.0 August 3,1994 June 28, 1995 1995/96 Notes 2.0 April 25,1996 June 28,1996 1996/97 Notes Series A-C 3.0 August 6,1996 June 30,1997 1997/98 Notes 3.0 September 9,1997 June 30,1998 State Treasurer's Office Undergoes Seismic Retrofit A survey was conducted of dl state b ildings to determine if they could withstand an earthquake of a magnitude of 7.0`or Sher. It was def fined that the Jesse M. Unruh building,amongothertfirkOldtOffer significant tfarhacjetikt must undergo a seismic retrofit. The emphasis of the retrofit will be from the basement to the first floor of the Jesse M. Unruh building:The second flooruvill have the beams and columns reinforced but will take much less time with less disruption. The seismic project is scheduled to begin on March 19, 1998 with a completion date of October, 1999. During.this construction period, the State Treasurer's Office and LAIF will continue to do business as usual. Throughout the project,a qualified consulting firm,VERSAR, Inc.,will continuously monitor the air quality and test for hazardous materials, State Treasurer Matt Fong Phone (916) 65 3.3001 Local Agency Investment Fund Fax (916) 654-99 31 P.O- Box 942809, Sacramento, CA 9-009-0001 http-//www treasurer.ca goy o a o ea w � C N o U 0 ~ \ujl m cC c4 e e o 0 0 0 • L in W 0 en00 C 0 m e ee b eenn 7 7 a'd' N a, 00 _Vl O N tel n Ca N K en O Ni [T O ae yCy a. It 0 Tr V en •-e N L r ? h en en CO 8 fV 6 O O O 7 a u a W 00 0' O\ N im-M M_ O A. eni N m v, r O To R.I 3 V m N .-� N• O C. d Q i a N a 00 a enen N 00 N 00 a N ... N en v .- en N 1 N A ? A -I r b N b Oen O 6 W a ''t e o o c o re £. P d a'[t,9' Q. 6 U f 0 .•. 7 O vi 7 7 O� W - : v.7i M eT h O ern ,^O C G w N vi -� v N I- U. 1 c C • 0 IS Z tl a C 7 _d C C o r q p O e. In 1 a o w C C 1-4 a a C - w N wgg 13 oo cn W °u T4 a. y a y x N F Q a. .1'..-1Q t-i>11)'' I- t=. a° C7 w V `� F 'w G .. a.... . __. ...emu s..W �.,,.. �...,.., City of Palm Desert Perkvlew Professional Office Building Analysis of Budget to Actual for the Month of March 1998 March-98 March48 8 % YTD YTD 8 % Budget Actual Variance Variance Budget Actual Variance Variance Revenues Rental $ 58,892 $ 61,692 $ 2,801 104.76% $ 530,025 $ 561,603 $ 31,578 105.96% Dividends/Interest $ - $ 2,341 $ 2,341 100.00% $ - $ 12,226 $ 12,226 100.00% Total Revenues $ 68,892 $ 64,033 $ 5,141 108.73% $ 530,025 $ 573,829 $ 43,804 108.28% Expenses Professional-Accounting&Auditing $ 2.000 $ 1,746 $ 254 87.30% $ 18,000 $ 24,476 $ (6,476) 135.98% Professional-Management Fee $ 5,500 $ 5,557 $ (57) 101.03% $ 32,000 $ 39,935 $ (7,935) 124.80% Professional-Other Consultants $ - $ 4,199 $ (4,199) 100.00% $ - $ 5,536 $ (5,536) 100.00% Repairs&Maintenance Building $ 6,506 $ 8,348 $ (1,842) 128.32% $ 76,052 $ 73,669 $ 2,383 96.87% Repairs 8 Maintenance-Landscaping $ 1,079 $ - $ 1,079 0.00% $ 9,711 $ - $ 9.711 0.00% Utilities-Water $ 78 $ 113 $ (36) 146.06% $ 698 $ 953 $ (255) 138.53% Utilities-Gas/Electric $ 4,238 $ 2,848 $ 1,390 67.20% $ 38,138 $ 37,110 $ 1,028 97.30% Utilities-Trash $ 496 $ 820 $ (324) 165.30% $ 4,462 $ 4,940 $ (478) 110.71% Telephone $ 229 $ - $ 229 0.00% $ 2,063 $ 1,446 $ 617 70.09% Insurance $ 521 $ - $ 521 0.00% $ 4,687 $ - $ 4,687 0.00% Total Expenses $ 20,648 $ 23,830 $ (2,985) 114.48% $ 185,811 $ 188,063 $ (2,234) 101.21% Operating Income $ _ 38,246_$_ _40,403_$ 2,156 105.64% $ 344,214 $ 385,764 $ 41,550 112.07% Depreciation $ 8,083 $ 9,186 $ (1,103) 113.64% $ 72,750 $ 82,674 $ (9,924) 113.64% Operating Nei Income $ 30,163 5 31,217 S 1,054 103.49% $ 271,484 $ 303,090 $ 31,826 111.65% Prior Year Adjustments' $ - $ - $ - 0.00% $ - $ (23,362) $ 23,362 100.00% Y '. r 4 •`4i ,.` 'Prior period adjustments represent excess CAMs reimbursed to the tenants.and the property tax refunded to PDOC for property tax paid March 1996. 8 m 88S8R22 S P 4 , . Ng Ea g .- ao „ naa .icd o mS am M N N 4 $ R 88 , a , $ V 'a, Q R V o w , . r N 0 N a 8 m N i N < n inR N N v M ry O Y 131 �pp N - p re .: N N m W Q • LL p m 0 a O' 8 t%p 8N , 0 A n Yp 1yNp� ��mpp W, , T. A 4J A m A N YI m N N 0 O W ._ -J N M N a N N O CO V C ^ m a' lea N O.........O N N 8» N N N V ow N 8 Q 8Q �Oj A , O 0 qqV !1�� , r WN W p - a O �( n�$ n N 0402 N 2 O al C R i aE, b �' N ' f N pl 0 3(521, b N C a Y a Ste » i 2 a m Br. nry88 , 4 m , m4 aa .- QOce a h $ o P. o mE ', N W N N m N Si;. ti. ap@SN ' z > mm 8 jEll N t•] O , N O O O �Ny m f W r m N 1 W 0 O m8 O ' N' N S m m 2A E Z LLV q a N O m A O < < O N " O p CI n .-N 1� tG a N a Y . pe <8 r � LL a w ... N .......... N N 6 p 8 8 g 84418 p o h C W N $O 5 O� , NO , 0 Yp O P , N W O 0 u O O m S S w ' N N SC t m N » a o v N m J E y m N N IV d 0 O pi 4E.o O N No. » 2 N , % 88 N 4820 m S N 0, 0° r "tare q - N T N0, i p, nQS g N el Y N N ,1 N a¢ N»N N qq 0 O $88 8 R O �p V. 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Mall" k & w . . . .. . . . . . . . . . . . . . . .. . . . . . . . . . . . � . . . . City Of Palm Desert Desert Willow Golf Course Budget Vs.Actual For the Month of March 1998 Mar-98 Mar-98 $Variance %Var YTD YTD S Variance %Var Revenue Budgeted Actual Current Current Budget Actual YTD YTD Golf Course Fee $358,709 $357,907 ($802) 99.78% $1,975,431 $1,848,523 ($126,908) 93.58% Cart Fee $3,280 $3,280 $0 100.00% $14,799 $22,219 $7,420 150.14% Pro Shop $44,050 S44,429 $379 100.86% $253,300 $245,959 . ($7,341) 97.10% Range $6,463 $3,599 ($2,864) 55.69% $37,956 $30,817 ($7,139) 81.19% Food&Beverages $25,450 $27,336 $1,886 107.41% $153,650 $158,983 $5,333 103.47% Learning Center $28,000 $36,981 $8,981 100.00% $53,000 $131,625 $78,625 100.00% . - Other Revenue $200 $1,404 $1,204 702.00% $1,150 $11,877 S10,727 1032.78% Total $466,152 $474,936 $8,785 101.88% $2,489,286 S2,450,003 ($39,283) 98.42% Expenditures Salaries and Benefits - $119,070 $116,956 $2,114 98.22% $981,481 $948,796 $32,685 96.67% Golf Course Maintenance $76,966 $46,729 $30,237 60.71% $472,735 $533,619 ($60,884) 112.88% Cart Expenses $10,608 $9,220 $1,388 86.92% $85,672 $90,876 ($5,204) 106.07% Pro Shop Expenses $3,050 $14,152 ($11,102) 464.00% S71,208 $63,242 $7,966 88.81% Pro Golf Shop Cost of Goods Sold S23,672 $20,153 $3,519 85.13% $143,468 $129,869 $13,599 90.52% Range Expenses $175 $3,133 ($2,958) 1790.29% $3,250 $6,312 ($3,062) 194.22% Food&Bev.Expenses $6,135 $3,350 $2,785 54.60% $26,490 $40,881 ($14,391) 154.33% Food&Bev.Cost of Goods Sold 512,718 $9,549 $3,169 75.08% $63,459 $69,051 ($5,592) 108.81% General&Administration Expenses $38,890 $36,376 $2,514 93.54% $223,540 $250,039 ($26,499) 111.85% Learning Center $20,000 $32,811 (S12,811) 164.06% $40,000 $131,548 ($91,548) 328.87% Management Fee $12,500 $12,500 $0 100.00% $112,500 $112,500 S0 100.00% Depreciation Expense $37,876 $28,345 $9,531 74.84% $226,513 $255,105 ($28,592) 112.62% Capital Expense $0 $2,508 ($2,508) 100.00% S0 $23,821 (S23,821) 100.00% Interest $3,004 $0 $3,004 0.00% $27,038 $0 $27,038 0.00% Total $364,664 $335,782 $28,882 92.08% S2,477,355 S2,655,659 ($178,304) 107.20% Net Profit(Loss) S101,487 - $139,154 S37,667 137.12% S11,932 (S205,656) (S217,588) -1723.60% m 8i N co o a v _ N o rn $ o C = = m 0 S $ m H S a, m oc y e oo H e P o o ' ni '^ ,e ri o = 'r' n. 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L. ,! / I cc [\ \ ) | k l \) } I I'% ! } f | it% 2 ill 2 A k k ° 2 2 \ 4 16. cn In e ^ 2 0.4 } / \§ - - N. § 0 Oa 7 \ 2 ° 48 ) t ) \ f \ ( ± | £ ] / Q / ) � { ! 3 . 2 !` g z \ © \ $ ) § 5 A Z o F- f il 2CC � E f $ / ;� ° 4- . \ 8 . • Re 7 m , al ; 4- Iƒ a ; $ Z ƒ \ ` }4- ,Iƒ 2^ § r. ! u ' ^ f \ - in ` CO w • f - i , 2 . II _ E 2 N. 2 ! ait al m t 2 � ! ' B ' i •) . n ' K ' [ - k • ! • 's k . . ( 2 _ i B . § ! g. - } \ , @ ! ) 7 \ \ \ ( § 7 * ° ` \ __m__ 8 Pa...�Desert Recreational Facilities Corpora. .i Monthly Income Analysis For March 1998 Mar-98 Mar-98 # Budget Actual Variance Variance Food & Beverage Revenues $25,450.00 $29,537.00 $ 4,087.00 116.06% Total Revenues $25,450.00 $29,537.00 $ 4,087.00 116.06% Salaries $ 7,565.00 $11,725.00 $(4,160.00) 154.99% Cost of Goods Sold-F&B $12,718.00 $10,594.00 $ 2,124.00 83.30% Food &Beverage Expense $ 6,135.00 $ 4,926.00 $ 1,209.00 80.29% Total Expenses $26,418.00 $27,245.00 $ (827.00) 103.13% Net Income(Loss) $ (968.00) $ 2,292.00 Note: The above revenues and expenditures are also included In the Desert Willow analysis. City of Palm Desert Desert Willow Golf Course Analysts of Cash Reserves Requirement Three Month Projected Expenditures April-8 May-8 June-6 Projected Expenditures Payroll $ 118,542 $ 118,192 $ 118,192 $ 354,926 COGS $ 31,461 $ 28,214 $ 22,248 $ 81,923 Operating $ 210,360 $ 215,415 $ 206,767 $ 632,542 Totals I $ 360,963 $ 361,621 $ 347,207 $ 1,069,391 I Cash Reserve Analysis One Month Three Months Required Reserve $ 360,363.00 $ 1,069,391.00 Cash on Hand $ 835,522.01 $ 835,522.01 Variance-Favorable Unfavorable I $ 475,159.01 $ 233,868.99I 4 1 . interoffice MEMORANDUM • to: HONORABLE MAYOR AND CITY COUNCIL from: PAUL S. GIBSON, FINANCE DIRECTOR subject: INVESTMENT POLICY date: February 2, 1998 RECOMMENDATION: Adopt Resolution No. 98-11 amending the City of Palm Desert Investment Policy. DISCUSSION: Section 53646 of the California Government Code requires that an annual review and readoption of a formal investment policy be accomplished by every local agency in the state. Attached is the revised policy for the Redevelopment Agency of the City of Palm Desert. Additions to the policy are in bold type and deletions are lined out. The policy approved last year was modified as follows: Page 2 Paragraph 1 Line added that was inadvertently left out of the 1997 policy Paragraph 2 State what actually takes place Page 5 Section G. Extend weighted average by 5 days to allow the use of the money market fund used by Union Bank Page 7 Paragraph 2 Change wording to remain consistent throughout Paragraph 3 Delete line that applies to some but not all bonds Paragraph 4 State what actually takes place Schedule I Item 5 Eliminate item not used Item 9 Delete duplication Schedule II Items 2, 5, 9, & 10 Delete duplication Schedule III Items 4, 5, 6, 7(c), 8, 11 & 15 Delete duplication Items 1, 10, 12 & 13 Simplify language for better understanding Item 11 Added to set standards for current brokers Schedule IV List changed to include the new names of firms we deal with that merged in 1997, and to delete firms we do not use Schedule V Time deposit purchase restrictions - changed to 110% as is required by government code CITY OF PALM DESERT and PALM DESERT REDEVELOPMENT AGENCY sniEmENIDEINyEsImEnyoucy ADOPTED BY RESOLUTION: Jaeeer,237 7 *se `me CITY OF PALM DESERT/PALM DESERT REDEVELOPMENT AGENCY Statement of Investment Policy TABLE QF CONTENTS Page Introduction 1 Scope 1 Investment Objectives 1 A. Safety 1 B. Liquidity 2 C. Yield 2 Authority to Invest Funds 2 Investment/Finance Committee 2 Internal Control 3 Ethics and Conflict of Interest 3 Evaluation of Investment Officer Actions 3 Authorized Financial Dealers & Institutions 3 Authorized Investments 4 Investment Pools 6 Safekeeping of Securities 6 Diversification 6 Maximum Maturities 7 Bond Proceeds 7 Reporting Requirements 7 Investment Policy Adoption 7 Investment Policy Review 7 Policy Statement on Collateralized Time Deposits Schedule I Policy Criteria for Entering Into a Money Market Fund Schedule II Policy Criteria for Selecting Broker/Dealers Schedule III Firms Authorized to Conduct Investment Transactions Schedule IV Chart of Authorized Investments Schedule V Glossary CITY OF PALM DESERT/PALM DESERT REDEVELOPMENT AGENCY Statement of Investment Policy INTRODUCTION The policy and practices of the City of Palm Desert and the Palm Desert Redevelopment Agency are based upon state law, city ordinances, prudent money management and the "prudent person" standards. The primary goals of this policy are to invest public funds to: • 1. Meet the daily cash flow needs of the City and the Redevelopment Agency. 2. Comply with all laws of the State of California regarding the investment of public funds. 3. Achieve a reasonable rate of return while minimizing the potential for capital losses arising from market changes or issuer default. SCOPE The investment policy applies to all funds under the control of the Finance Director/City Treasurer of the City of Palm Desert and the Palm Desert Redevelopment Agency, including but not limited to the general revenues of the City/Agency, enterprise fund revenues,proceeds of bond sales and debt service revenues, trust funds in the custody of the Finance Director/Treasurer and any other funds under his control. These funds are accounted for in the comprehensive annual financial reports of the City of Palm Desert and the Palm Desert Redevelopment Agency. INVESTMENT OBJECTIVES A. Safety of Principal Safety of principal is the City/Agency's foremost objective of the investment program. Investments shall be undertaken in a manner that seeks to ensure that capital losses resulting from institution default,broker-dealer default,or the erosion of market value are avoided. The City/Agency shall seek to preserve principal by mitigating the two types of risk: credit risk and market risk. 1. Credit risk,defined as the risk of loss due to failure of the issuer of a security, shall be mitigated by investing in only the highest quality securities (see authorized investments)and by diversifying the investment portfolio so that the failure of any one issuer would not unduly harm the City/Agency's cash flow. 2. Market risk,defined as the risk of market value fluctuations due to overall changes in the general level of interest rates,shall be mitigated by structuring the portfolio so that Rev: 01/98 1 'rid securities mature at the same time that major cash outflows occur,this eliminating the securities mature at the same time that major cash outflows occur, thus eliminating the need to sell securities prior to maturity; and by prohibiting the taking of short positions, that is, selling securities that the City/Agency does not own. It is explicitly recognized, however, that in a diversified portfolio, occasional measured losses may occur, and must be considered within the context of overall investment return. B. Liquidity Liquidity is the second most important objective of the investment program. The investment portfolio shall remain sufficiently liquid to enable the City/Agency to meet all operating requirements. At all times,at least 50%of the total portfolio shall be invested for periods of three years or less; at least 30%of the total portfolio shall be invested for two years or less; at least 20% of the total portfolio shall be invested for one year or less. At no time will a security in the portfolio mature in more than five years except bond reserve funds, bond escrow funds and any funds approved by the Finance Committee er and City Council to be appropriate for a longer period. `'M;I C. Yield 1 The City/Agency portfolio shall be invested to attain a market average rate of return through economic cycles,as long as it does not diminish the objectives of Safety and Liquidity. The market rate of return is defined as the average return on the one-year U.S. Treasury Bill. Whenever possible and in a manner consistent with the objectives of safety of principal and liquidity, a yield higher than the market rate of return shall be sought. AUTHORITY TO INVEST FUNDS The City Council and Redevelopment Agency Board have appointed the City Finance Director as City Treasurer responsible for undertaking investment transactions on behalf of the City/Agency. Unless specifically designated by the City Council and Agency Board, the only officials authorized to undertake investment transactions on behalf of the City/Agency are the Director of Finance/Treasurer and his/her designee. The Finance Director/Treasurer and Investment Manager will observe,review and react to the changing conditions that affect the investment portfolio. They will meet on a regular basis to discuss current market conditions, future trends and how each of these affects the investment portfolio and the City/Agency. The Finance Director/Treasurer and Investment Manager shall establish a system of controls to ensure compliance with the City/Agency's investment policy. INVESTMENT/FINANCE COMMITTEE The City utilizes a Finance Committee,composed of the Mayor,Mayor Pro-Tempore, City Manager, Redevelopment Agency Executive Director, Finance Director, Investment Manager, City Attorney and Citizen(s) appointed by the City Council,to insure stability and constant information flow as it relates to investment and other finance activities. They will meet monthly to discuss issues relating Rev: 01/98 2 to the City/Agency's investment portfolio. Items may include the suitability of current investment policies and procedures, current and proposed strategies, investment transactions since the last meeting as well as other topics affecting the sources and uses of funds in the portfolio. INTERNAL CONTROL The Finance Director, is responsible for ensuring compliance with the City/Agency investment policies as well as establishing internal controls designed to prevent losses due to fraud, employee error,misrepresenting by third parties,or unanticipated changes in financial markets. A written policy on the specific internal controls will be reviewed by the Finance Committee. • ETHICS AND CONFLICTS OF INTEREST Officer and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program, or which could impair their ability to make impartial investment decisions. Employees and investment officers shall disclose any material financial interests in financial institutions that conduct business within this jurisdiction, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the City/Agency's portfolio. Employees and officers shall subordinate their personal investment transactions to those of the City/Agency, particularly with regard to the timing of purchases and sales,and shall avoid transactions that might impair public confidence in the City's ability to govern effectively. EVALUATION OF INVESTMENT OFFICER ACTIONS The actions of City/Agency investment officers in the performance of their duties as managers of public funds shall be evaluated using the following"prudent person" standard applied in the context of managing the overall portfolio: Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence, discretion, and intelligence exercise in the professional management of their business affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived. City/Agency investment officers acting in accordance with written policies and the"prudent person" standard and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes,provided that substantial deviations from expectations are reported by the Treasurer to City Manager and the Finance Committee within three days of discovery. Mutually agreeable remedial action will be taken by the Treasurer and reported to the next Finance Committee meeting. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS Rev: 01/98 3 vie The City/Agency shall transact business only with banks and savings and loans, and with investment securities dealers which/who comply with Schedule III(Policy Criteria for Selecting Broker/Dealers) attached. The Finance Director/Treasurer will maintain a list of financial institutions authorized to provide investment services. He will also maintain a list of approved security brokers/dealers selected by credit worthiness who are authorized to provide investment services to the City/Agency. The dealers must be primary dealers regularly reporting to the Federal Reserve Bank. Exceptions to the primary dealer rule may be made with the approval of the Investment/Finance Committee, provided they are consistent with California Government Code Section 53601.5. All primary financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must supply an audited financial statement, and U4 Form for the broker, completed broker/dealer questionnaire (see Schedule III) and certification of having read the City/Agency's investment policy. All secondary financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must supply an audited financial statement, proof of National Association of Securities Dealers certification, trading resolution, proof of state registration, completed broker/dealer questionnaire (see Schedule III), U4 Form for the broker and certification of having read the City/Agency's investment policy. The Finance Director/Treasurer shall determine if they are adequately capitalized, make markets on securities appropriate to the City/Agency's needs and are recommended by managers of portfolios similar to the City/Agency. The Finance Director/Treasurer shall submit his findings and recommendations to the Investment/Finance Committee. The committee will determine which broker/dealers will be authorized to trade with the City/Agency. An annual review of the financial condition and registration of qualified bidders will be conducted. A current audited financial statement is required to be on file for each financial institution and broker/dealer in which the City/Agency invests. The City/Agency shall at least annually send a copy of the current investment policy to all financial institutions and broker/dealers approved to do business with the City/Agency. Confirmation of receipt of this policy shall be considered evidence that the dealer has read and understands the City/Agency's investment policy and will recommend and execute only transactions suitable for and in compliance with the City/Agency's investment policy. AUTHORIZED INVESTMENTS The City/Agency is authorized by California Government Code Section 53600, et. seq. to invest in specific types of securities. The City/Agency has further limited the types of securities in which we may invest. Any security not listed, is not a valid investment for the City/Agency. The concise list of approved securities is as follows: A. United States Treasury Bills,Bonds,and Notes,or those for which the full faith and credit of the United States are pledged for payment of principal and interest. There is no limitation as to the percentage of the portfolio which can be invested in this category. Rev: 01/98 4 • B. Obligations issued by United States Government Agencies such as,but not limited to, the Government National Mortgage Association (GNMA), the Federal Farm Credit Bank System (FFCB), the Federal Home Loan Bank (FHLB), the Federal National Mortgage Association(FNMA),the Federal Home Mortgage Corporation(FHLMC), the Student Loan Marketing Association(SLMA),and the Tennessee Valley Authority (TVA). Although there is no percentage limitation of the dollar amount that can be invested in these issuers,the "prudent person"rule shall apply for any single agency name. C. Bills of exchange or time drafts drawn on and accepted by a commercial bank, otherwise known as bankers acceptances which are eligible for purchase by the Federal Reserve System,may not exceed 270 days to maturity or 40% of the market value of the portfolio. No more than 30%of the market value of the portfolio may be invested in banker's acceptances issued by any one bank. D. Commercial paper of prime quality and ranked P1 by Moody's Investor Services and Al by Standard and Poor's and issued by a domestic corporation having assets in excess of$500 million and having an "A" or better rating on its long term debt as provided by Moody's or Standard and poor's. Purchases of eligible commercial paper may not exceed 180 days to maturity. Purchases of commercial paper may not exceed 15%of the market value of the portfolio. No more than 5%of the market value of the portfolio,or$5,000,000 or 10%of the issuers' outstanding paper may be invested in commercial paper issued by any one corporation. E. Medium Term Notes(MTNs)issued by corporations organized and operating within the United States. MTNs eligible for purchase shall be rated"A"or better by Standard and Poor's or by Moody's rating services. MTNs with an"A"rating shall be limited to 24 months maximum maturity; "AA"rated MTNs shall be limited to 36 months. The aggregate total of all purchased MTNs may not exceed 30%of the market value of the investment portfolio. No more than 5%of the market value of the portfolio may be invested in notes issued by any one corporation. Commercial paper holdings shall be considered when calculating the maximum percentage of any issuer name. F. The Local Agency Investment Fund(LAIF),established by the State Treasurer for the benefit of local agencies and identified under Government Code Section 16429.1, is authorized up to the maximum amount permitted by State Law. G. The City/Agency may invest in"shares of beneficial interest" issued by diversified management companies which invest only in direct oblitations in United States Treasury bills,notes and bonds, and repurchase agreements with a weighted average of 60 days or less. They must be rated in the highest-rating category of at least two nationally-recognized rating services (e.g., Moody's P-1 or Standard and Poor's AAA),and have a minimum of$500 million in assets under management,and comply with Schedule II (Policy Criteria for Entering Into a Diversified Management Company) attached. The purchase price may not include commissions. Rev: 01/98 5 H. The City/Agency may place funds in inactive deposits with Banks and Savings and Loans with a branch within California that have a rating of at least "A-1" from the Financial Directory or an equivalent rating from another generally recognized authority on ratings, and have an Equity to Total Assets ratio of at least 4%. No more than 15% of the City/Agency portfolio, exclusive of investments in government agency issues and the State Treasurer's Local Agency Investment Fund, shall be placed with any one financial institution. All deposits shall be secured in accordance with Sections 53651 and 53652 of the California Government Code and comply with Schedule I (Policy Statement of Collateralized Time Deposits) attached. If deposits are not collateralized, the maximum placed at any one institution will be $100,000. The maximum amount of collateralized inactive deposits placed at any one institution shall not constitute more than 15%of the total assets of the institution or$5,000,000, whichever is less, and shall not exceed the total shareholders' equity of the issuing institution. INVESTMENT POOLS The City/Agency will investigate all local government investment pools(LGP) and money market mutual funds prior to investing and periodically thereafter while the City/Agency is invested in the pool. All money market mutual funds and LGP's, except the Local Agency Investment Fund(LAIF)of the State of California, must meet the criteria in Schedule II of this policy which includes providing a written statement that it meets the requirements in Sections 53601 and 53635 of the California Government Code and have the highest rating from two national rating agencies. The fund must maintain a daily principal per share value of$1.00 per share and distribute interest monthly. The fund's investments shall be limited to direct obligations in United States Treasury bills notes and bonds, and repurchase agreements. LAIF is authorized under provisions in Section 16429.1 of the California Government Code. The City/Agency's participation in the pool was approved by the City Council and the Redevelopment Agency Board on December 12, 1981, by Resolution 81-161. It is a permitted investment of the City/Agency even though it does not comply with all of the items listed in Schedule II, "Criteria for Entering Into a Money Market Fund." SAFEKEEPING OF SECURITIES To protect against potential losses by the collapse of individual securities dealers,all securities owned by the City/Agency shall be held in safekeeping by a third party bank trust department acting as agent for the City/Agency under the terms of a custody agreement executed by the bank and the City/Agency. All securities will be received and delivered using standard delivery-versus-payment (DVP)procedures. The third party bank trustee agreement must comply with Section 53608 of the California Government Code. No outside broker/dealer or advisor may have access to City/Agency funds, accounts or investments,and any transfer of funds to or through an outside broker/dealer must be approved by the Finance Director/Treasurer. Rev: 01/98 6 DIVERSIFICATION The City/Agency will diversify its investments by security type and investment. With the exception of bond reserve funds,bond escrow funds, and any other funds approved by the Finance Committee or the City Council, at all times at least 50%of the total portfolio shall mature in three years or less; at least 30%of the total portfolio shall mature in two years or less; at least 20%of the portfolio shall mature in one year or less. • MAXIMUM MATURITIES The City/Agency will attempt to match its investments with anticipated cash flow requirements. Unless matched to a specific cash flow, as approved by the Finance Committee and City Council, the City/Agency will not directly invest in securities maturing more than five years from the date of purchase. Bond reserve funds, bond escrow funds, and any other funds approved by the Finance Committee er and the City Council may be invested in securities exceeding five years if the maturities of such investments are made to coincide as nearly as possible with the expected use of the funds. BOND PROCEEDS The City/Agency will direct the investment of proceeds on bonds issued as instructed in the bond indenture. Securities authorized by the bond indenture that are not authorized by the City/Agency's investment policy will only be used if they are specifically approved by the Finance Committee. All securities will be held in third-party safekeeping with the bond trustee, and all delivery-versus- payment rules will apply. . REPORTING REQUIREMENTS The Finance Director/Treasurer shall render a report of investment activity to the City Council, Agency Board and the Finance Committee quarterly monthly within 30 days following the end of th,yam t.a month or the next scheduled Council meeting following the Finance and Investment Committee meeting.The report will include the type of investment,issuer,date of maturity, and par and dollar amount invested,on all securities, investments and monies held by the City/Agency. The report shall state market value and the source of the valuation, and state that the portfolio is in compliance with the policy or the manner in which it is not in compliance. The report will also include a statement denoting the ability to meet the City/Agency's expected expenditure requirements for the next six months or provide an explanation as to why sufficient money is not available. The report date will be the actual month-end date unless the last day of the month falls on a weekend or legal holiday. If the last day of the month is a weekend or legal holiday,the date of month-end report will be the last business day prior to the end of the month. Rev: 01/98 7 w INVESTMENT POLICY ADOPTION The Finance Director/Treasurer shall submit an annual Statement of Investment Policy to the Finance Committee and then the City Council and Redevelopment Agency Board for their approval. This statement shall be filed with the Finance Committee by January 31 of each year. INVESTMENT POLICY REVIEW The City/Agency's independent Certified Public Accountant shall annually review and make recommendations regarding the City/Agency investment policies to the extent considered necessary as required by generally accepted auditing standards as they relate to the annual financial audit which includes cash and investments. Rev: 01/98 8 • CITY OF PALM DESERT PALM DESERT REDEVELOPMENT AGENCY POLICY STATEMENT ON COLLATERALIZED TIME DEPOSITS SCHEDULE I Before the Treasury can place a time deposit with a local bank or savings and loan, the following criteria must be met: 1. The bank must provide us with an executed copy of the"Contract for Deposit for Moneys" as specified in Section 53649 of the California Government Code. 2. The interest rate on the Time Certificate of Deposit must be competitive with rates offered by other banks and savings and loans residing in Riverside County and must exceed the interest rate for treasury bills for a similar maturity period. 3. For investments less than$100,000,FDIC insurance will be sufficient without requiring any collateral to be pledged with the Federal Reserve to secure the public fund deposit. 4. For investments exceeding $100,000, there may be a waiver of collateral for the first $100,000 deposited, and all of the funds placed on deposit must be collateralized by 105% 110% of U.S. Treasury or Federal Agency securities, or by 150% of mortgages having maturities less than five years in accordance with Section 53652 of the California Government Code. The City/Agency must receive confirmation that these securities have been pledged in repayment of the time deposit. The securities pledged must be maintained at a current market value 10% greater than the dollar amount of the deposit. 5. The City/Agency must be given a current audited financial statement for the financial year just ended . The financial reports must both include a "statement of financial condition" as well as an "income statement"depicting current and prior year operations. 6. The City/Agency will not place a fund deposit for more than$5,000,000,or 10%of the assets of the institution, whichever is less. 7. The City/Agency must receive a certificate of deposit which specifically expresses the terms governing the transaction, (i.e., the period of time,name of depositor, interest rate, etc.). 8. All time certificates must have a maturity period not exceeding one year from the date of deposit with quarterly payments of interest based upon the stated interest rate. Rev: 01/98 Schedule I vow Nrof 9. Th.. City/Ag*ney must also receive a Ltt.s from the een.ptrt,lkrand/.,r tleaa41..1 .,f tll Lank at the timc the&posit is a.adc,that these-s.n,-1 nen.ri. ,11ding financial disclosure of i,aLti,. slaw a11....111..11ttd-t.lr a.}dt.13c ftlrmle:alz.vt.ld i.lvolviltg the bank or...Ants-and lean, 1..,r:J tla. .,any knewl..dgt,that-an,e.,fliet ef-iuteleat situnt:ei. exists-with ally City As„11.,y.official, ellrylt,y.,e at the time the bank is ree.,ivi..g this d.,i,esit. The City/Asei.ey has a fiduciary r.,ape.isib:l:ty to make-prod nt ;nvest=1te11t of public fni.ds, a..d to assure .,al uiv..di11entptat.titcs art,-.lm,nt of any f.nahai. -indm.enlent er—w1d11ct 1n 1i1ttl eat what,va,ova. +10. 9. Time deposits will only be made with qualified banks and savings and loans having branch office locations within Riverside County. However,time deposits with a bank or savings and loan must be centralized at one designated office location rather than making separate deposits with each branch office. Rev: 01/98 Schedule I CITY OF PALM DESERT PALM DESERT REDEVELOPMENT AGENCY POLICY CRITERIA FOR ENTERING INTO A DIVERSIFIED MANAGEMENT COMPANY SCHEDULE II • 1. The firm must meet all requirements set forth in the California Government Code Sections 53601 and 53635. `�,�\'2. The-€haa.in d ustpteA . n,. writing a stat.,a.ent en the fmaFa-k.tt..al.eal that tln. final a..a.a.ts tl.a. yv. ., Gavernment-Cotlej7 2. The fund must provide evidence that it has been registered with SEC and has "AAA"ratings from Standard&Poor's and Moody's. -:3. The fund's investments shall be limited to direct obligations in U.S. Treasury bills, bonds or notes and repurchase agreements, to the extent allowed by law, and shall maintain weighted average maturities within their portfolio of less than 60 days. sX I� _thu, w¢� wa �Ca/do- -fr. 4. The fund shall provide us a cutr *f ore efore our participation in the fund. -77 5. The fund cannot engage in hedging strategies, WI purchases, options, future, reverse- repurchase agreements, or security lending. -8 6. The fund must maintain daily, a principal per share value of$1.00 per share. �� 9. The fund shall paer:dc :afetaa.ntie.a en-vrha, ser:�-i. custodial bank. l -107 7. The fund shall provide us at least annual financial statements on the fund's financial condition and performance. i-17 8. The fund shall provide us wire instructions for the purchase and redemption of shares and must be able to distribute interest earnings to us on a monthly basis. i37 9. Unless the fund is more than five years old,the City/Agency is to be given its performance history since the inception of the fund. Rev: 01/98 Schedule II 1/4ssr 13. Th., Ginity/A5ellcy n3 al3o to be 8iv n th .e dat`,' the fend h Las- AaAhA1ed, tl..djtwtal-4....t3 L411 M11t1�'1 4 11ndHL 1111146V1llMllt, a �Z l. .Aolalt 12 manila' lllfl,ry a3 to Nltll.rl le�.1 e'wlL VC�1M..11ll.i It weakl-also b b 1lef e:aIYf th., fund could plevidc ns pe1fo1111an..e hiss r:e0 e11 eu111Y.,titu1 Bands, should-they be available. we z c-- ✓Y�a y ,n n cd2A.etij tk-rl , tce J , j 0 Rev: 01/98 Schedule II CITY OF PALM DESERT PALM DESERT REDEVELOPMENT AGENCY POLICY CRITERIA FOR SELECTING BROKER/DEALERS SCHEDULE III 1. All primary financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must supply an audited financial statement, and U4 Form for the broker,completed broker/dealer questionnaire(made-a part of this Schedule) and certification of having read the City/Agency's investment policy. All secondary financial institutions and broker/dealers who desire to become qualified bidders for investment transactions must supply an audited financial statement, proof of National Association of Securities Dealers certification, trading resolution, proof of state registration, completed broker/dealer questionnaire (made-a part of this Schedule), U4 Form for the broker and certification of having read the City/Agency's investment policy. 2. The net capital position of the firm shall be in excess of$100 million. 3. The Finance Director/Treasurer's intent is to enter into a long-term relationship. Therefore, the integrity of the firm and the personnel assigned to our account is of primary importance. 4. Th., firm m�_ c in "fisting its-willi..gm.ss to 1 c4,em.d by th /Age.n,?s- niitt.,.c I.tveatt...,,.t P&li.,y G.ideit..cs. We_ Q C UZ.e/rl C.-012c a.o)-,-, a took-ni 5. Th -fi must-pr.,tide an active see.,ndary marketer i ;-seu.rit:es it°ells. t 4 .co G._IuA ii lidric 'tctbtc4 . 6. Th., fi....must specify tit, types of s.,e,.ritie. it specializes in and will be. tale a.ailath- f.,. om-aeeemtb we_ 14-ewe_-Lmtc� t .fn 1 in&we--Lo o a f . 4. It is important that the firm provide related services that will enhance the account relationship which could include: a) An active secondary market for its securities. b) Internal credit research analysis on commercial paper,banker's acceptances and other securities it offers for sale. �) B.. ..ille.g to t.ad aeLi.ritics en e,.r pertf.,lio. p(nn-fftW d)c) Be capable of providing market analysis, economic projections,newsletters. e)d) Provide market education on new investment products, security spread relationships, graphs, etc. 8. Th.f. ,,.,eat b willr, revid.,us anneal f.naneial stat.....ents: fie- U_-_l e- JA-e 1 aatip Ut • -975. If requested,the firm must be willing to provide us a list of local government clients or other references,particularly those client relationships established within the State of California. Rev: 01/98 Schedule III Nei ~vole �c rno_ki2.$ -L4 4&6. th.,City/Agency's custodial bank. Without exception,all transactions are to be conducted on a "delivery vs. payment" basis. All securities owned by the City/Agency, shall be held in safekeeping by a Third Party Bank Trust Department acting as Agent for the City/Agency under the terms of a Custody Agreement executed by the bank and the City/Agency. o , � 11. Witheatexecptie,.,al1 h&waetions arc pct.,„�nctccd en a"di way va pa Was;3. +277. The LwI..,,/.1.,aI.,, Firm shall be headquartered or have a branch office in California, Ex cyt out-of-state:and must be registered with and be operating under the laws of the State of California. +3:8. The Firm must have been in operation for more than 5 years,and must have net capital in excess of$100 million. 44.9. No business relationship shall be established with firms engaging in the sale of"exotic" products. Exotic meaning"unusually high yields,"no ready secondary market, or"high price volatility"on the security. 15. The f,,,,,mast be reg;sh ed w;th th„ Sta.of Cali€e,,,ia's regnlat.iy ag....y. (A� 2� � CAI) 4-6 10. No broker/dealer or security firm shall be selected who which has,within any consecutive 48- month period,made a political contribution in an amount exceeding the limitations contained in Rule G-37 of the Municipal Securities Rulemaking Board, to the local treasurer or any member of the City Council or the Redevelopment Agency governing board or to any candidate for these offices. 11. All Broker/Dealers who have been selected to work with the City/Agency will anually review the revised Investment Policy and sign a statement indicating that he/she will comply with it. They will also provide their audited financial statement to us. Rev: 01/98 Schedule III GLOSSARY AGENCIES: Federal agency securities. DEBENTURE: A bond secured only by the general credit of the issuer. ASKED: The price at which securities are offered. (The price at which a firm will sell a DELIVERY VERSUS PAYMENT: There security to an investor.) are two methods of delivery of securities: delivery versus payment and delivery versus BANKERS' ACCEPTANCE (BA): A draft receipt. Delivery versus payment is delivery of or bill or exchange accepted by a bank or trust securities with an exchange of money for the company. The accepting institution guarantees securities. Delivery versus receipt is delivery payment of the bill, as well as the issuer. of securities with an exchange of a signed receipt for the securities. BASIS POINT: One one-hundredth of a percent (i.e., 0.01%). DISCOUNT:The difference between the cost price of a security and its maturity when BID: The price offered by a buyer of quoted at lower than face value. A security securities. (When you are selling securities, selling below original offering price shortly you ask for a bid.) after sale also is considered to be at a discount. BROKER: A broker brings buyers and sellers DISCOUNT SECURITIES: Non-interest together for a commission. He does not take a bearing money market instruments that are position. issued at a discount and redeemed at maturity for full face value(e.g., U.S. Treasury Bills). CERTIFICATE OF DEPOSIT(CD):A time deposit with a specific maturity evidenced by DIVERSIFICATION: Dividing investment a certificate. Large-denomination CD's are funds among a variety of securities offering typically negotiable. independent returns. COLLATERAL: Securities, evidence of FEDERAL CREDIT AGENCIES:Agencies deposit or other property which a borrower of the Federal government set up to supply pledges to secure repayment of a loan. Also credit to various classes of institutions (e. g. refers to securities pledged by a bank to secure S&L's, Small business firms, students, deposits of public monies. farmers, farm cooperatives, and exporters). COUPON: a) The annual rate of interest that FEDERAL DEPOSIT INSURANCE a bond's issuer promises to pay the bondholder CORPORATION(FDIC): A Federal agency on the bond's face value. b) A certificate that insures bank deposits, currently up to attached to a bond evidencing interest due on $100,000 per deposit. a payment date. FEDERAL FUNDS RATE: The rate of DEALER: A dealer, as opposed to a broker, interest at which Fed funds are traded. This acts as a principal in all transactions, buying rate is currently pegged by the Federal Reserve and selling for his own account. through open-market operations. Rev: 01/98 Glossary Nee *ire • CITY OF PALM DESERT PALM DESERT REDEVELOPMENT AGENCY FIRMS AUTHORIZED TO CONDUCT INVESTMENT TRANSACTIONS SCHEDULE IV The City/Agency is authorized to conduct investment security transactions with the following investment firms and broker/dealers, many of which are designated by the Federal Reserve Bank as primary government dealers. Security transactions with firms, other than those appearing on this list, are prohibited. A. Firms designated by the Federal Reserve Bank as Primary Government Dealers: Bank of Amerie.NT & SA Ch O t. T f ie Chemical Seeth:t:cs, Int. Cit:ce.t, Seetn:ti.,0 Markets, Inc. Morgan Stanley Dean Witter Reynolds, Discover, Inc. M rill Lynch Ceve,.,meat Securities, Inc. Pai..c W..bb r, Inc. I\ad.,..tial Bach, SLen.:t:ca, Inc,. Lclh..an Gosemment Securities,Le. Solomon Smith Barney, Inc. B. Other authorized firms: Union Bank of California The Bank of New York Great Western Bank Home Savings of America Downey Savings Glendale Federal Bank Wells Fargo Bank Rev: 01/98 Schedule IV OFFER: The price asked by a seller of amortized yield to maturity; on a bond, the securities. (When you are buying securities, current income return. you ask for an offer.) See"Asked"and"Bid". REPURCHASE AGREEMENT (RP or OPEN MARKET OPERATIONS: REPO): A holder of securities sells these Purchases and sales of government and certain securities to an investor with an agreement to other securities in the open market by the New repurchase them at a fixed date. The security York Federal Reserve Bank as directed by the "buyer" in effect lends the "seller" money for FOMC in order to influence the volume of the period of the agreement, and the terms of money and credit in the economy. Purchases the agreement are structured to compensate inject reserves into the bank system and him for this. Dealers use RP extensively to stimulate growth of money and credit: Sales finance their positions. Exception: When the have the opposite effect. Open market Fed is said to be doing RP, it is lending money, operations are the Federal Reserve's most that is, increasing bank reserves. important and most flexible monetary policy tool. SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities PORTFOLIO: Collection of securities held and valuables of all types and descriptions are by an investor. held in the bank's vaults for protection. PRIMARY DEALER: A group of SECONDARY MARKET: A market made government securities dealers who submit for the purchase and sale of outstanding issues daily reports of market activity and positions following the initial distribution. and monthly financial statements to the Federal Reserve Bank of New York and are SECURITIES & EXCHANGE subject to its informal oversight. Primary COMMISSION:Agency created by Congress dealers include Securities and Exchange to protect investors in securities transactions Commission (SEC)-registered securities by administering securities legislation. broker/dealers, banks and a few unregulated firms. SEC RULE 15C3-1: See "Uniform Net Capital Rule". PRUDENT PERSON RULE: An investment standard. In some states, the law requires that TREASURY BILLS: A non-interest bearing a fiduciary, such as a trustee, may invest discount security issued by the U.S. Treasury money only in a list of securities selected by to finance the national debt. Most bills are the custody state—the so-called"legal list". In issued to mature in three months, six months, other states,the trustee may invest in a security or one year. if it is one which would be bought by a prudent person of discretion and intelligence who is TREASURY BOND: Long-term U.S. seeking a reasonable income and preservation Treasury securities having initial maturities of of capital. more than 10 years. RATE OF RETURN:The yield obtainable on TREASURY NOTES: Intermediate-term a security based on its purchase price or its coupon bearing U.S. Treasury securities current market price. This may be the having initial maturities of from one year to ten years. Rev: 01/98 Glossary °r.r *sr' FEDERAL HOME LOAN BANKS GOVERNMENT NATIONAL (FHLB): The institutions that regulate and MORTGAGE ASSOCIATION (GNMA or lend to savings and loan associations. The Ginnie Mae): Securities influencing the Federal Home Loan Banks play a role volume of bank credit guaranteed by GNMA analogous to that played by the Federal and issued by mortgage bankers, commercial Reserve Banks vis-a-vis member commercial banks, savings and loan associations, and other banks. institutions. Security holder is protected by full faith and credit of the U.S. Government. FEDERAL NATIONAL , MORTGAGE Ginnie Mae securities are backed by the FHA, ASSOCIATION (FNMA): FNMA, like VA or FMHM mortgages. The term "pass- GNMA was chartered under the Federal throughs" is often used to describe Ginnie National Mortgage Association Act in 1938. Maes. FNMA is a Federal corporation working under the auspices of the Department of Housing and LIQUIDITY: A liquid asset is one that can be Urban Development (HUD). It is the largest converted easily and rapidly into cash without single provider of residential mortgage funds a substantial loss of value. In the money in the United States. Fannie Mae, as the market, a security is said to be liquid if the corporation is called, is a private stockholder- spread between bid and asked prices is narrow owned corporation. The corporation's and reasonable size can be done at those purchases include a variety of adjustable quotes. mortgages and second loans, in addition to fixed-rate mortgages. FNMA's securities are LOCAL GOVERNMENT INVESTMENT also highly liquid and are widely accepted. POOL (LGIP): The aggregate of all fluids FNMA assumes and guarantees that all from political subdivisions that are placed in security holders will receive timely payment of the custody of the State Treasurer for principal and interest. investment and reinvestment. FEDERAL OPEN MARKET MARKET VALUE: The price at which a COMMITTEE (FOMC): Consists of seven security is trading and could presumably be members of the Federal Reserve Board and purchased or sold. five of the twelve Federal Reserve Bank Presidents. The President of the New York MARKET REPURCHASE AGREEMENT: Federal Reserve Bank is a permanent member, A written contract covering all future while the other presidents serve on a rotating transactions between the parties to repurchase- basis. The Committee periodically meets to reverse repurchase agreements that establish set Federal Reserve guidelines regarding each party's rights in the transactions. A purchases and sales of Government Securities master agreement will often specify, among in the open market as a means of influencing other things, the right of the buyer-lender to the volume of bank credit and money. liquidate the underlying securities in the event of default by the seller-borrower. FEDERAL RESERVE SYSTEM: The central bank of the United States created by MATURITY: The date upon which the Congress and consisting of a seven-member principal or stated value of an investment Board of Governors in Washington, D.C.; 12 becomes due and payable. regional banks and about 5,700 commercial banks are members of the system. Rev: 01/98 Glossary UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that member firms as well as nonmember broker/dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1; also called net capital rule and net capital ratio. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among • members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash. YIELD: The rate of annual income return on an investment, expressed as a percentage. (a) INCOME YIELD is obtained by dividing the current dollar income by the current market price for the security. (b) NET YIELD or YIELD TO MATURITY is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond. Rev: 01/98 Glossary ‘limie 'war E = m « . / ) k � k > / ; - { (] . \ ) ) • 3Et k . . k f , ! k ; LA W Qs o ; Rf Cr III 0 [ to co , al o E x k ! 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