County of San Diego Treasurer Investment Report. MONTH ENDING January 31, 2005

Transcription

1 County of San Diego Treasurer Investment Report MONTH ENDING January 31, 2005

2 Table of Contents 3 Summary Portfolio Statistics as of January 31, Investment Inventory with Market Value Purchases/Sales/Maturities 16 Cash Flow Analysis 17 Participant Cash Balances 18 Pooled Money Fund Participants 19 Pooled Money Fund Asset Allocation 20 Pooled Money Fund Assets Credit Quality DISCLAIMER: The information provided, including all charts, tables, graphs and numerical representations, is provided to readers solely as a general overview of the economic and market conditions which the Treasurer utilizes in making investment decisions 2

3 Summary Portfolio Statistics COUNTY OF SAN DIEGO POOLED MONEY FUND As of January 31, 2005 Percent Of Market Accrued Unrealized Yield To Portfolio Book Value Price Interest Market Value Gain/(Loss) Maturity U S Treasury Notes 2.36% 99,363, % 510,989 98,281,250 ($1,082,727) 2.06% Federal Farm Credit Bank Notes 11.75% 495,544, % 3,330, ,249,763 ($7,294,343) 2.41% Federal Home Loan Bank Notes 16.16% 679,453, % 2,856, ,682,909 ($7,770,795) 2.68% Federal Nat'l Mortgage Assoc. Notes 10.09% 425,702, % 2,202, ,472,244 ($6,230,036) 2.34% Federal Home Loan Mortg. Corp. Notes 1.78% 74,998, % 275,556 73,775,548 ($1,222,795) 2.52% Corporate Medium Term Notes 4.19% 175,977, % 1,799, ,323,018 ($1,654,273) 2.52% Asset Backed Notes 1.42% 59,609, % 225,188 59,132,035 ($477,888) 2.90% Money Market Funds 0.76% 31,500, % 156,299 31,500,000 $0 2.13% Repurchase Agreements 3.61% 150,000, % 10, ,000,000 $0 2.57% Negotiable Certificates Of Deposit 24.34% 1,015,010, % 8,978,261 1,011,645,904 ($3,364,105) 1.87% Commercial Paper 23.52% 977,676, % 0 977,377,108 ($298,959) 2.44% Collateralized Certificates of Deposit 0.01% 294, % ,000 $0 2.38% Totals for January % $4,185,129, % $20,345,978 $4,155,733,778 ($29,395,920) 2.33% Totals for December % $4,601,008, % $20,087,097 $4,573,890,478 ($27,118,507) 2.22% Change From Prior Month ($415,879,286) -0.14% ($418,156,700) ($2,277,413) 0.11% Portfolio Effective Duration years Fiscal Year January'05 To Date Calendar Year Return Annualized Return Annualized To Date Return Annualized Book Value 0.193% 2.269% 1.196% 2.030% 0.193% 2.269% Market Value 0.173% 2.034% 1.339% 2.272% 0.173% 2.034% 3

4 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss USTN /15/ ,000, ,570, , (298,741.38) CD /31/ ,869, USTN /16/ ,000, ,570, , (265,266.85) CD /31/ ,835, USTN /16/ ,000, ,570, , (263,513.56) CD /31/ ,833, USTN /19/ ,000, ,570, , (255,205.09) CD /31/ ,825, SUBTOT - TREASURY NOTES % 100,000, ,281, , (1,082,726.88) % 99,363, FFCB /24/ ,000, ,812, , (187,880.00) 31331QC /24/ ,000, FFCB CALL /17/ ,000, ,615, , (384,385.00) 31331TJR /17/ ,000, FFCB CALL /21/ ,000, ,628, , (371,425.00) 31331TKQ /21/ ,000, FFCB /25/ ,000, ,821, , (178,367.50) 31331TKT /25/ ,000, FFCB /7/ ,400, ,053, , (36,861.18) 31331TVT /3/ ,090, FFCB /29/ ,640, ,392, , (61,764.27) 31331TM /18/ ,453, FFCB CALL /21/ ,000, ,547, , (452,707.50) 31331Q4N /21/ ,000, FFCB CALL /21/ ,000, ,818, , (181,083.00) 31331Q4N /21/ ,000,

5 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss FFCB /3/ ,000, ,590, , (409,878.00) 31331TRV /3/ ,000, FFCB CALL SEMI /12/ ,000, ,495, , (504,065.00) 31331TA /12/ ,000, FFCB CALL X /15/ ,000, ,575, , (424,962.50) 31331TQQ /13/ ,000, FFCB /8/ ,000, ,578, , (421,284.00) 31331TVR /8/ ,000, FFCB /29/ ,000, ,791, , (1,209,000.00) 31331TXX /29/ ,000, FFCB /29/ ,000, ,868, , (1,131,360.00) 31331TXU /29/ ,000, FFCB CALL x /19/ ,000, ,779, , (1,220,490.00) 31331TA /13/ ,000, FFCB CALL X /13/ ,000, ,881, , (118,830.00) 31331SCZ /9/ ,000, SUBTOT - FFCB % 496,040, ,249, ,330, (7,294,342.95) % 495,544, FHLB CALL CONT /14/ ,000, ,909, , (90,894.00) 3133X1KC /14/ ,000, FHLB /12/ ,000, ,940, , (40,037.38) 3133XA3G /18/ ,980, FHLB /23/ ,000, ,776, , (60,394.95) 3133MW2M /15/ ,836, FHLB /28/ ,000, ,776, , (60,411.22) 3133MW2M /15/ ,836, FHLB /29/ ,000, ,667, , (63,205.58) 3133X4EB /27/ ,730, FHLB /15/ ,000, ,875, , (106,717.94) 3133MYCH /15/2006 9,982,

6 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss FHLB /15/ ,000, ,875, , (106,717.94) 3133MYCH /15/2006 9,982, FHLB /15/ ,000, ,875, , (106,717.94) 3133MYCH /15/2006 9,982, FHLB CALL x /20/ ,000, ,716, , (283,245.00) 3133X6SJ /17/ ,000, FHLB /26/ ,000, ,638, , (361,324.00) 3133X6XK /26/ ,000, FHLB /12/ ,000, ,549, , (27,322.48) 31339XCC /9/ ,576, FHLB /13/ ,000, ,557, , (29,595.94) 31339XCB /16/ ,587, FHLB CALL /14/ ,000, ,088, , (911,605.00) 31339YJN /14/ ,000, FHLB CALL /14/ ,000, ,635, , (364,642.00) 31339YJN /14/ ,000, FHLB CALL /21/ ,965, ,691, , (273,229.80) 31339YHS /21/ ,965, FHLB /10/ ,000, ,877, , (122,085.00) 3133XACS /21/ ,000, FHLB CALL /28/ ,000, ,564, , (435,202.50) 31339YSR /28/ ,000, FHLB /28/ ,000, ,352, , (647,770.00) 3133X5ZG /28/ ,000, FHLB CALL CONT /15/ ,000, ,559, , (440,425.00) 3133X94N /15/ ,000, FHLB CALL /18/ ,000, ,410, , (589,170.00) 31339XGN /18/ ,000, FHLB /12/ ,000, ,825, , (174,557.50) 3133X8QH /12/ ,000, FHLB CALL /23/ ,000, ,601, , (398,825.10) 31339YJG /23/ ,000,

7 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss FHLB CALL /23/ ,000, ,779, , (1,220,430.00) 31339YJC /23/ ,000, FHLB /12/ ,000, ,744, , (255,912.50) 3133X6KQ /12/ ,000, FHLB /2/ ,995, ,394, , (600,355.76) 31339YAE /2/ ,995, SUBTOT - FHLB % 680,960, ,682, ,856, (7,770,794.53) % 679,453, FNMA CALL /28/ ,000, ,733, , (266,095.00) 3136F3EW /28/ ,000, FNMA CALL x /7/ ,000, ,674, , (324,010.45) 31359MUX /13/ ,998, FNMA CALL x /7/ ,000, ,674, , (321,874.12) 31359MUX /13/ ,996, FNMA CALL /2/ ,000, ,163, , (836,275.00) 3136F3UZ /2/ ,000, FNMA /9/ ,575, ,753, , (821,429.30) 3136F3WS /9/ ,575, FNMA CALL /9/ ,116, ,575, , (540,066.86) 3136F3M /9/ ,116, FNMA CALL /14/ ,000, ,571, , (428,232.50) 3136F3R /14/ ,000, FNMA /14/ ,000, ,122, , (877,535.00) 3136F3Q /14/ ,000, FNMA CALL /4/ ,000, ,592, , (407,260.00) 3136F3W /4/ ,000, FNMA CALL /4/ ,000, ,592, , (407,260.00) 3136F3W /4/ ,000,

8 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss FNMA /19/ ,000, ,159, , (840,980.00) 3136F5PV /19/ ,000, FNMA /5/ ,000, ,000, , (16,440.05) 3136F5X /6/ ,016, FNMA /14/ ,000, ,857, , (142,577.50) 3136F6EK /20/ ,000, SUBTOT - FNMA % 425,691, ,472, ,202, (6,230,035.78) % 425,702, FHLMC call qtrly /16/ ,000, ,904, , (93,604.88) 3128X3Q /15/ ,998, FHLMC /4/ ,000, ,435, , (564,595.00) 3128X1GF /4/ ,000, FHLMC /4/ ,000, ,435, , (564,595.00) 3128X1GF /4/ ,000, SUBTOT - FHLMC % 75,000, ,775, , (1,222,794.88) % 74,998, MTN GECC /25/ ,000, ,912, , (245,928.24) 36962GA /30/ ,158, MTN GECC /30/ ,000, ,706, , (293,840.00) 36962GF /30/ ,000, MTN GECC /12/ ,000, ,582, , (157,576.69) 36962GWC /30/ ,740, MTN EUROPEAN INVT BNK /16/ ,000, ,914, , (74,407.45) DE /15/ ,989, MTN GECC /6/ ,000, ,698, , (554,040.39) 36962GE /25/ ,252, MTN GECC /8/ ,000, ,698, , (152,383.03) 36962GE /25/ ,851, MTN GECC /12/ ,000, ,809, , (176,097.40) 36962GM /9/ ,985, SUBTOT - MEDIUM TERM NOTE % 175,000, ,323, ,799, (1,654,273.20) % 175,977,

9 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss PTS CCCIT 2003-A /11/ ,000, ,804, , (147,997.92) 17305EBR /7/ ,952, PTS CCCIT /26/ ,000, ,519, , (286,270.09) 17305ECA /20/ ,805, PTS CCCIT 2004-A /6/ ,000, ,807, , (43,620.28) 17305ECA /22/2007 9,851, SUBTOT - SOFT BULLET % 60,000, ,132, , (477,888.29) % 59,609, RP MS /31/ ,000, ,000, , /1/ ,000, RP DB /31/ ,000, ,000, , /1/ ,000, SUBTOT - REPURCH AGREE % 150,000, ,000, , % 150,000, NCD ROYAL BK OF SCOTLAND /5/ ,000, ,969, , (34,746.04) 78009YH /23/ ,003, NCD SOCIETE GENERALE /10/ ,000, ,938, , (60,668.39) 83365WMD /10/ ,999, NCD SOCIETE GENERALE /10/ ,000, ,938, , (60,668.39) 83365WMD /10/ ,999, NCD ROYAL BK OF SCOTLAND /11/ ,000, ,936, , (62,518.57) 78009YL /11/ ,999, NCD CIBC /15/ ,000, ,930, , (68,838.74) 13606UU /15/ ,999, NCD SVENSKA HANDELSBANKEN /15/ ,000, ,931, , (68,298.82) 86958YZ /15/ ,999, NCD WESTDEUTSCHE LB /23/ ,000, ,912, , (87,505.00) 9575EAAR /23/ ,000, NCD CIBC /24/ ,000, ,955, , (44,515.00) 13606UV /24/ ,000,

10 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss NCD WASHINGTON MUTUAL /8/ ,000, ,992, , (7,445.00) 93933EVC /22/ ,000, NCD WASHINGTON MUTUAL /9/ ,000, ,978, , (21,616.00) 93933EVP /13/ ,000, NCD Washinton Mutual /18/ ,000, ,899, , (100,230.00) 93933AFC /16/ ,000, NCD WASHINGTON MUTUAL /26/ ,000, ,898, , (101,790.00) 93933EPE /27/ ,000, NCD WASHINGTON MUTUAL /8/ ,000, ,967, , (32,420.00) 93933EVH /15/ ,000, NCD UBS /27/ ,000, ,855, , (145,954.86) 90261GM /30/ ,001, NCD US Bank /30/ ,000, ,917, , (87,639.00) 90331HJZ /18/ ,004, NCD TORONTO DOMINION /25/ ,000, ,799, , (201,492.40) 8911A1SZ /25/ ,001, NCD WASHINGTON MUTUAL /27/ ,000, ,903, , (96,600.00) 93933EPF /25/ ,000, NCD TORONTO DOMINION /27/ ,000, ,796, , (205,263.67) 8911A1TD /26/ ,001, NCD CIBC /30/ ,000, ,802, , (197,905.00) 13606U6K /30/ ,000, NCD BLB CALL /19/ ,000, ,421, , (578,515.00) 0727M5U /17/ ,000, NCD LANDESBK BADEN-WURTT N /19/ ,000, ,839, , (160,225.00) 51488PYG /19/ ,000, NCD RABOBANK NEDERLAND /1/ ,000, ,060, , (939,250.00) 7497T1TD /1/ ,000, SUBTOT - NEGOTIABLE C/DS % 1,015,000, ,011,645, ,978, (3,364,104.88) % 1,015,010,

11 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss CP WORLD OMNI VEHICLE /3/ ,000, ,989, (10,335.00) 9815A2P /1/ ,000, CP WORLD OMNI VEHICLE /3/ ,000, ,965, (34,450.00) 9815A2P /1/ ,000, CP DEUTSCHE BANK /31/ ,000, ,982, (17,225.00) 25153JP /1/ ,000, CP MANHATTAN ASSET /3/ ,000, ,993, (3,913.89) 56274LP /2/ ,997, CP EIFFEL FDG /4/ ,000, ,996, (1,956.94) 28248TP /2/ ,998, CP NORTHERN ROCK /4/ ,000, ,996, (1,956.94) 6656P2P /2/ ,998, CP HARRIER FIN LLC /19/ ,200, ,197, (894.20) 41365TP /4/ ,198, CP EUROHYPO AG /18/ ,000, ,985, (3,160.00) 29873LP /7/ ,988, CP BAVARIA UNIV FDG /18/2004 5,350, ,347, (586.42) 0717P2P /8/2005 5,347, CP STANFIELD VICTORIA /22/ ,000, ,955, (6,261.11) 85431EPJ /18/ ,961, CP STANFIELD VICTORIA FDG /24/ ,000, ,974, (3,388.89) 85431EPJ /18/ ,978, CP LEXINGTON PARKER CAP /29/ ,000, ,961, (4,962.50) 52952LPN /22/ ,966, CP LEXINGTON PARKER /1/ ,299, ,275, (2,858.36) 52952LPN /22/ ,278, CP CITIGROUP GLOBAL /1/ ,000, ,919, (10,522.22) 17307JPP /23/ ,929, CP PARADIGM FDG /1/ ,000, ,918, (8,720.00) 69900KQ /1/ ,927,

12 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss CP GALAXY FUNDING /1/ ,000, ,973, (2,660.00) 36317RQA /10/2005 9,975, CP MANHATTAN ASSET FDG /7/ ,000, ,824, (21,725.29) 56274LRF /15/ ,845, CP SILVER TOWER US /30/ ,000, ,874, (816.66) 82831MRF /15/ ,875, CP SCALDIS CAP LLC /30/ ,218, ,131, (562.45) 80584TRF /15/ ,132, CP DEALERS CAPITAL ACCESS /30/ ,380, ,317, JRF /15/ ,317, CP GOLDEN FISH /10/ ,927, ,786, , ERF /15/ ,784, CP SILVER TOWER /10/ ,000, ,774, (1,470.00) 82831MRF /15/ ,775, CP NEPTUNE FDG CORP /6/ ,000, ,697, (24,872.23) 64072LRN /22/ ,722, CP POLONIUS INC /7/ ,000, ,939, (5,418.89) 73158TRN /22/2005 9,944, CP LEXINGTON PARKER CAP /8/ ,000, ,697, (29,316.67) 52952LRN /22/ ,726, CP POLONIUS INC /8/ ,000, ,848, (13,547.22) 73158TRN /22/ ,862, CP SYDNEY CAPITAL /7/ ,110, ,049, (1,723.20) 87123LRT /27/ ,050, CP SYDNEY CAPITAL /7/ ,877, ,762, (8,966.31) 87123LRU /28/ ,771, CP WHITE PINE /10/ ,474, ,230, (15,188.79) 96432ES /3/ ,245, CP IXIS /10/ ,000, ,826, (14,027.78) 4507A2S /4/ ,840,

13 Investment Inventory with Market Value Description Cpn Rate Purchase Date Par Value Market Value Unrealized Cusip YTM TR Maturity % of Pool Book Value Market Price Acc Int Gain/Loss CP CALYON NO. AMERICA /9/ ,000, ,695, (27,691.11) 13170RSD /13/ ,722, CP AQUINAS FDG LLC /5/ ,000, ,728, (8,694.44) 03839TTL /20/ ,737, CP DEUTSCHE BNK FINL /4/ ,000, ,414, (29,896.67) 25153JU /1/ ,444, CP EUROHYPO AG /11/ ,000, ,346, , LUR /25/ ,330, SUBTOT - COMM PAPER % 981,835, ,377, (298,958.58) % 977,676, MM FEDERATED # /1/ ,700, ,700, , /1/ ,700, MM FIDELITY FUND # /1/2003 6,800, ,800, , /1/2005 6,800, MM BLACKROCK FUND # /1/2003 6,000, ,000, , /1/2005 6,000, SUBTOT - MNY MKT FNDS ACT % 31,500, ,500, , % 31,500, CD SD NATIONAL BANK /28/ , , /28/ , CD FIRST UNITED BANK /25/ , , /25/ , CD NEIGHBORHOOD BANK /29/ , , /29/ , SUBTOT - BANK CD % 294, , % 294, GRAND TOTAL % 4,191,320, ,155,733, ,345, (29,395,919.97) % 4,185,129,

14 Purchases/Sales/Maturities SAN DIEGO COUNTY POOLED MONEY FUND January 31, 2005 SALES/ DATE OF DATE SECURITY DESCRIPTION YIELD PURCHASES MATURITIES GAIN/LOSS COMMENTS MATURITY 1/3 CP MORGAN STANLEY ,000,000 MAT 1/3/2005 1/3 CP WORLD OMNI VEHICLES ,540,000 MAT 1/3/2005 1/3 CP WORLD OMNI VEHICLE ,000,000 PURC 2/1/2005 1/3 CP WORLD OMNI VEHICLE ,000,000 PURC 2/1/2005 1/4 CP MORGAN STANLEY ,000,000 MAT 1/4/2005 1/4 CP DEUTSCHE BNK FINL ,000,000 PURC 7/1/2005 1/5 CP BAVARIA UNIV FDG ,000,000 MAT 1/5/2005 1/5 FNMA ,000,000 PURC 7/6/2007 1/5 CP AQUINAS FDG LLC ,000,000 PURC 6/20/2005 1/7 CP NORDDEUTSCHE LANDESBA ,180,000 MAT 1/7/2005 1/7 CP ATLANTIS ONE FDG ,000,000 MAT 1/7/2005 1/7 CP GREYHAWK FUNDING ,250,000 MAT 1/7/2005 1/7 CP ATOMIUM FDG CORP ,169,000 MAT 1/7/2005 1/7 FFCB ,400,000 PURC 3/3/2006 1/10 FHLB ,000,000 PURC 7/21/2006 1/11 CP ATOMIUM FDG ,000,000 MAT 1/11/2005 1/11 CP EUROHYPO AG ,000,000 PURC 7/25/2005 1/12 CP ASSET ONE SEC ,959,000 MAT 1/12/2005 1/12 CP ASSET ONE SEC ,000,000 MAT 1/12/2005 1/12 CP PINNACLE POINT FDG ,500,000 MAT 1/12/2005 1/12 CP BAVARIA TRR CORP ,000,000 MAT 1/12/2005 1/12 CP BAVARIA TRR CORP ,000,000 MAT 1/12/2005 1/12 FHLB ,000,000 PURC 6/9/2006 1/12 FHLB ,000,000 PURC 1/18/2006 1/13 CP GOLDEN FISH ,711,000 MAT 1/13/2005 1/13 FHLB ,000,000 PURC 6/16/2006 1/14 CP UBS FINANCE ,000,000 MAT 1/14/2005 1/14 CP EDISON ASSET SEC ,000,000 MAT 1/14/2005 1/14 CP ATLANTIS ONE FDG ,000,000 MAT 1/14/2005 1/18 CP KITTY HAWK FDG ,000,000 MAT 1/18/

15 Purchases/Sales/Maturities (cont.) SAN DIEGO COUNTY POOLED MONEY FUND January 31, 2005 SALES/ DATE OF DATE SECURITY DESCRIPTION YIELD PURCHASES MATURITIES GAIN/LOSS COMMENTS MATURITY 1/19 NCD LANDESBK BADEN-WURTT ,000,000 PURC 1/19/2006 1/21 CP ATLANTIS ONE FDG ,000,000 MAT 1/21/2005 1/26 CP BRITANNIA BLDG SOC ,000,000 MAT 1/26/2005 1/26 CP SCALDIS CAPITAL LLC ,000,000 MAT 1/26/2005 1/27 CP STARBIRD FDG CORP ,000,000 PURC 1/28/2005 1/27 CP CHARIOT FDG LLC ,388,000 PURC 1/28/2005 1/27 CP PARK SIENNA LLC ,000,000 PURC 1/28/2005 1/28 CD SAN DIEGO NATIONAL BANK , MAT 1/28/2005 1/28 CP MANHATTAN ASSET ,000,000 MAT 1/28/2005 1/28 CP STARBIRD FDG CORP ,000,000 MAT 1/28/2005 1/28 CP CHARIOT FDG LLC ,388,000 MAT 1/28/2005 1/28 CP PARK SIENNA LLC ,000,000 MAT 1/28/2005 1/28 CP PARADIGM FDG LLC ,385,000 PURC 1/31/2005 1/28 CP MANHATTAN ASSET ,074,000 PURC 1/31/2005 1/28 CP ATLANTIC ASSET ,500,000 PURC 1/31/2005 1/28 CP ST GERMAIN HLDGS ,000,000 PURC 1/31/2005 1/31 NCD ROYAL BK OF SCOTLAND ,000,000 MAT 1/31/2005 1/31 CP PARADIGM FDG LLC ,385,000 MAT 1/31/2005 1/31 CP MANHATTAN ASSET ,074,000 MAT 1/31/2005 1/31 CP ATLANTIC ASSET ,500,000 MAT 1/31/2005 1/31 CP ST GERMAIN HLDGS ,000,000 MAT 1/31/2005 1/31 CP DEUTSCHE BANK ,000,000 PURC 2/1/2005 Total 568,747, ,754,000 15

16 Cash Flow Analysis San Diego Pooled Money Fund Cash Flow Analysis ($000) Oct-04 Nov-04 Dec-04 Jan-05 Feb-05 Mar-05 Apr-05 May-05 Jun-05 Totals Beginning Pool Book Balance 2,480,352 2,487,605 2,518,673 3,220,868 2,917,321 2,901,549 2,944,527 3,418,855 3,283,714 INFLOWS: Maturities 714, , , , , , , , ,000 6,534,202 Sales/Calls 217, , , , ,581,186 Reverse Repos Interest Income On Pool 4,733 4,893 5,302 9,255 5,953 8,900 4,250 6,145 4,565 71,424 Taxes Collected 208, ,911 1,197,081 96,767 81, , ,322 55,708 75,637 3,337,578 School Deposits 201, , , , , , , , ,486 4,023,054 County Deposits 453, , , , , , , , ,300 4,011,593 Retirement ,500 10,500 10,500 10,500 10,500 52,500 Other Non-Mandatory ,655 1,147 10, ,528 1,800,412 1,752,061 2,593,981 1,987,470 1,304,441 1,351,526 1,928, , ,488 20,642,065 OUTFLOWS: Schools 443, , , , , , , , ,445 5,681,031 County 239, , , , , , , , ,000 3,862,957 Retirement 11,534 2,561 2, ,000 11,000 11,000 11,000 11, ,367 Other Non-Mandatory 5,269 3,398 6,033 4, ,140 Tax Apportionment 6,988 27, , ,200 21,500 31, , ,800 31,450 1,013,671 Reverse Repos Investments Purchased 1,078, ,551 1,563, , ,822,910 1,786,107 1,698,188 2,712,430 2,039, , ,714 1,108, , ,895 18,778,076 Total Monthly Net Cash Flows 14,305 53, ,449-51, , , ,654-3,336 42,593 PROJECTED/ACTUAL MONTH END LIQUIDITY 225, , , , ,716 1,301,528 2,121,182 2,117,846 2,160,439 PROJECTED/ACTUAL MONTH END POOL BALANCE 3,792,128 3,913,276 4,601,008 4,185,130 4,087,846 4,267,858 4,712,000 4,468,190 4,385,783 16

17 Participant Cash Balances SAN DIEGO COUNTY POOLED MONEY FUND As of January 31, 2005 PARTICIPANT 11/30/ /31/2004 1/31/2005 JAN % PARTICIPANT 11/30/ /31/2004 1/31/2005 COUNTY 322, , , % MTS COUNTY - SPECIAL TRUST FUNDS 848,347 1,047, , % Majestic Pines CSD Mission Res Consr NON-COUNTY INVESTMENT FUNDS 342, , , % North County Cemetery Dist SCHOOLS - (K THRU 12) 1,665,971 2,105,790 2,017, % North County Cemetry Perpetual North County Cemetery COM COLLEGES North County Dispatch 1, ,188 San Diego 83,987 99, ,648 North County Fire 2,257 4,873 5,152 Grossmont 41,617 46,644 50,052 Otay Water District Inv 12,847 12,847 12,847 Mira Costa 5,030 18,790 23,110 Palomar Res Cons r Palomar 35,765 41,065 44,511 Pine Valley FPD Southw estern 64,467 69,995 69,415 Pomerado Cem Perpet 1,273 1,277 1,283 Total For Com Colleges 230, , , % Pomerado Cemetery Dist Ramona Cemetery Dist RETIREMENT 9,549 10,774 13, % Ramona Cemtry Perpet Rancho Santa Fe FPD 2,645 4,256 5,224 SANCAL 8,215 8,212 12, % San Diego Rural Fire 1,497 1,648 1,462 San Dieguito River MTDB , % San Marcos FPD SANDAG % San Miguel FPD 3,853 6,181 6,797 San Ysidro Sanitation CITIES SDC Regional Airport Authority 35,874 35,874 35,874 Encinitas 5,043 5,043 5, % So County OPS Ctr Spring Valley/Casa de Oro (Misc Dep TF) 15,915 16,017 16,133 INDEPENDENT AGENCIES Alpine FPD 550 1,269 1,684 Upr Sn Lu Re Rsor Bonita Sunnyside FPD 2,385 2,933 3,055 Vallecitos Water Dist Inv 8,121 8,121 8,121 Borrego Springs FPD Valley Center FPD 1,720 Buena Sanitation Valley Center FPD 1,720 1,816 2,275 Deer Springs FPD 2,440 2,963 3,151 Valley Cntr Cemetery East County FPD (443) (387) (156) Valley Ctr Cem Perp Fallbrook Hos pital Fallbrook Sanitation Total for Independent Agencies 108, , ,539 PASIS 1,011 1,023 1,093 Lake Cuyamaca Rec & Pk Low er Sw eetw ater FPD Pooled Money Fund Total $ 4,001,699 4,118,096 4,185,130 17

18 Pooled Money Fund Participants SAN DIEGO COUNTY POOLED MONEY FUND As of January 31, % 41.16% 48.21% 3.61% County Funds Voluntary Depositors Schools Community Colleges 18

19 Asset Allocation SAN DIEGO COUNTY POOLED MONEY FUND As of January 31, % 3.61% 0.76% 0.01% USTN Commercial Paper 1.42% Medium Term Notes AssetBacked Notes Negotiable CD's Repo 4.19% 39.78% Money Market Time Deposits Federal Agency 23.52% 2.37% 19

20 Credit Quality SAN DIEGO COUNTY POOLED MONEY FUND As of January 31, % 53.55% AAA A-1/P-1/F-1 20