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Home My WebLink About1991-10-17 MinutesMINUTES OF A MEETING OF THE POLICE PENSION BOARD A meeting of the Fayetteville Police Pension and Relief Fund Board of Trustees was held on Thursday, October 17, 1991, at 2:30 p.m. in Room 326 of City Hall, 113 West Mountain, Fayetteville, Arkansas. PRESENT: Eldon Roberts, Jerry Friend, Rick Hoyt, Retiree Hollis Spencer, City Manager Scott Linebaugh, Administrative Services Director Kevin Crosson, Finance Director Ben Mayes, and Assistant City Clerk Lois Day. ABSENT: Dr. James Mashburn and City Clerk Sherry Thomas CALL TO ORDER The meeting was called to order by Kevin Crosson. OLD BUSINESS INVESTMENTS Ben Mayes addressed the Board with a cost basis summary report for Dean Witter, Madison Investment, and ACORN accounts. As of the end of September, Kirkland held 55% of the total fund or $2,692,290.00; of which ACORN held 22%, Madison 23%, and Dean Witter 10%. Longer Investments held $1,879,534.00 or 38% of the total fund. The fund has cash and equivalents of 23%, and the investment policy calls for between 10-25%, fixed income at 41% with the policy stating between 15-75%, and equities at 36% with the policy at between 20- 40%. So, the pension fund is invested according the Investment Policy guidelines. Mayes further reported that the state turn -back of $209,788 had arrived and had been allocated between 24 active and 38 retired participants for a total of 62 participants in the general pension plan; 34 participating in LOPFI for a grand total of 96 pension participants. He reported that $135,488.00 went to the general plan and $74,300.00 to LOPFI. Roberts pointed out that this sum alone is only about $8,000-9,000 short of paying the pensions for half of a year. Mayes reported that after their special meeting, an additional $300,000.00 was sent to Elaine Longer. MINUTES Hoyt, seconded by from the July 18, unanimous vote. Roberts, made a motion to approve the minutes 1991 meeting. The motion was approved by a October 17, 1991 RECESS The Board recessed for 5 minutes. INVESTMENTS CONT. Mike Kirkland of Dean Witter addressed the Board reporting that the ACORN account as of the end of September showed $1.129 million and as of October 16, 1991 showed $1.141 million. After almost one year with ACORN, he reported that they are up 14%, which is good for a balanced account. ACORN is currently holding 15% cash, 60% equities, and 25% bonds. Kirkland reported a profit of $6,000 to $7,000 on the sale of Carnival Cruise Lines. Kirkland reported that the Madison Account as of the end of September showed $1.186 million and as of October 16, 1991 showed $1.197 million. On an annualized basis, this account is up 10.3%. Madison is currently holding 38% cash and 62% bonds. Kirkland reported the current cash account value is $476,853.00 plus accrued interest. The cash account as of October 16, 1991 reflects $206,853.00 in cash and $270,000.00 in CD's. This account holds the state turn -back. Kirkland reported a total on the three accounts held by Dean Witter at $2,815,855.00, with cash at 29.5%, equities at 24.3%, and bonds at 46.2%. Kirkland suggested after these figures are combined with Elaine's figures for the total picture and based on the market at this time, he recommends that the pension board invest with Avitar for a conservative balanced approach. LONGER INVESTMENTS REPORT Elaine Longer presented a chart of risk trade-off between stocks and bonds which reflects the volatility of the stocks. Hoyt reported that the two CD's purchased earlier this year were both locked in at 8% or better. He explained that a CD is like a bond and when it is sold, the market price plus interest is realized. Hoyt gave the example of a bid price of $93,000.00 received on the Greenwood Trust CD which matures in May 1996. It was discussed and agreed among the members of the Board that they should stay with the current accounts and not add any at this time. Roberts requested that Mayes look at the state's methods and standards for figuring actuary soundness and present his analysis of the effects on their actuary soundness by remaining with the • • October 17, 1991 current accounts. He also asked Mayes to forecast when he would anticipate reaching actuary soundness. Elaine Longer stated that the additional $300,000 she received had been placed in the equity account. The stock accounts reflect 85% investment. The bond portfolio reflects a 15.1% increase from the account inception and 12.1% annualized. Elaine stated that the bond portfolio has no reinvestment risk due to the long maturities. The combined accounts reflect $2,066,000.00 with a 61% stock to bond rating. The income on book values is 4.7% and income yield on book value of stock is at 3%, or a 6% yield on the total portfolio. She stated the S&P 500 index from December 31, 1990 through September 30, 1991 was up 20.4%, and Solomon Brothers Treasury index was up 9.4%. The total equity account including bonds is up 22.2%. From account inception in July 1990, equities are up 21.1%. The equity account with bonds included is up 18.4%, and the S&P 500 with reinvested dividends is up 13.5%. The bond account, net after fees and expenses, is up 9.95% year-to- date and slightly ahead of the treasury index. When maturities are extended, interest rates drop and bond prices increase, and there is a good return on the bond portfolios. Year-to-date $86,000 was realized in gains. The debt to capital of 22% is a conservative capital structure with an expected return of 14.7%, a measure of how much of the return on equity is retained within the company to provide for growth. The S&P rating of 2.64 gives a rating of A to A-. The price earnings multiple has fluctuated between 17.5 times earnings to 19.3 times earnings. Longer stated that these reports indicate that there will be an economic recovery next year, and earnings growth will pick up. The total portfolio expense account year-to-date reflect a total expense ratio of 1.12%. Commissions as a percent of equity are at of 1%; and percent of total account at .4%. ADJOURNMENT The meeting adjourned at 2:48 p.m. • 00003661 • PAGE 1 ACCOUNT NO AE TAX ID NO PERIOD ENDING INCOME S CHARGE SUMMARY 342 018922 049 71-0584406 SEP 30 1991 DESCRIPTION THIS MONTH YEAR-T0.4ATE CITY OF FAYETTEVILLE POLICE PENSION 8 RELIEF FWD/ACORN ASSET MANAGEMEN ATTN. SCOTT LINEBAUGH 113 W MOUNTAIN FAYETTEVILLE AR 72701-6069 YOUR ACWIM EXECUTIVE: DIVIDENDS INTEREST INCOME MARGIN INTEREST ACCRUED BOND INTEREST 1,772.000R 2,350.000R .00 793.12CR 12,527.65CR 10,725.000R .00 11,002.72CR ACCOUNT VALUATION SUMMARY TOTAL VALUE OF PRICED INVESTMENTS TOTAL VALUE OF CUSTODIAL HOLDINGS CLOSING CASH BALANCE 934,987.50 194,079.51 370.57CR MIKE KIRKLAND DEAN WITTER REYNOLDS INC. 1ST 50 CENTRE,STE 200,280 N.COLG TOTAL ACCOUNT VALUATION 1,129,437.58 FAYETTEVILLE, AR 72701 - TEL 501 575 1400 n 6 /°-/6-9/ // y o.f7 YOUR INVESTMENTS AS OF SEPTEMBER 30 1991 LONG TYPE OR QUANTITY SHORT DESCRIPTION MONTH END PRICE MARKET VALUE EST DIV RATE/ YIELD ESTIMATED ANNUAL INCOME OWR SEC. SASH LANG SH LUNG CASH LONG CASH LONG CASH LGNG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG CASH LONG 1000 AMER TEL 8 TELEG COMPANY NY 1000 AMOCO CORP 600 BECTON DICKINSON2CO 1000 BLACK AND DECKER CORP 1200 BOEING CO 2000 CARNIVAL CRUISE LINES A 700 DWBBRADSTR CP 1100 EASTMAN KODAK CO 1000 GTE CORPORATION 400 GENL ELECTRIC CO 1600 HANSON TR SPONS ADR 400 INTL BUSINESS MACHINES CORPN 800 LINCOLN NTL CORP IND 600 MOTOROLA INC 600 PACIFIC TELESIS GROUP 800 PEPSICO INC NC 800 PHILIP MORRIS COS INC 400 SHL TRNSBTRAD PLC NY SH NEW 1500 WASTE MANAGEMENT INC CASH LONG 200000 US TSY NOTE 800 OIMY15 37 1/2 37,500.00 50 7/8 50,875.00 68 40,800.00 17 1/8 17,125.00 50 3/4 60,900.00 25 3/8 50,750.00 47 1/8 32,987.50 42 5/8 46,887 50 31 1/2 31,500.00 69 3/8 27,750.00 20 1/8 32,200.00 103 5/8 41,450.00 49 1/8 39,300.00 59 1/4 35,550.00 42 1/8 25,275.00 28 1/2 22,800.00 72 1/8 57,700.00 53 5/8 21,450.00 37 1/8 55,687.50 103 1/4 206,500.00 TOTAL VALUE OF PRICED INVESTMENTS 934,987.50 3.52 4.32 1.70 2.33 1.97 1.89 4.58 4.69 5.39 2.94 6.61 4.67 5.53 1.28 5.08 1.68 2.91 5.25 1.18 7.74 4.36 1,320.00 2,200.00 696.00 400.00 1,200.00 960.00 1,512.00 2,200.00 1,700.00 816.00 2,129.60 1,936.00 2,176.00 456.00 1,284.00 384.00 1,680.00 1,127.60 660.00 16,000.00 40,837.20 04120 04580 08600 09441 09727 14357 24723 25646 31106 31607 35640 39050 44746 51526 58850 60732 61252 68597 80514 984D5 THE CUSTODIANISI OF THE INVESTMENTS LISTED BELOW HAVE REPORTED THAT, AS OF THE DATE SHOWN, YOUR ACCOUNT, MAINTAINED WITH SUCH CUSTODIAN REFLECTED THE FOLLOWING: CUST. FWD DATE ACCOUNT N0. SHARES/UNITS N.A.V. VALUE OWTC DEAN WITTER/SEARS LIQUID ASSET 9-30-91 024004945 • 194,079 1.00 TOTAL VALUE OF CUSTODIAL HOLDINGS 194,079.51 194,079.51 • 00003662 • ACCOUNT NO A E TAX ID NO PERIOD ENDING 342 018922 04 9 71-0584406 SEP 30 1991 CITY OF FAYETTEVILLE POLICE PENSION 8 RELIEF FWD/ACORN ASSET MANAGEMEN PAGE 2 DAILY ACTIVITY DURING SEPTEMBER 1991 DATE ACTIVITY DESCRIPTION PRICE AMOUNT CASH BALANCE TYPE REF NO. 8/31 OPENING CASH BALANCE 9/01 INTEREST 9/06 JOURNAL IN CASH DIVIDEND • 9/09 BOUGHT 9/10 CASH DIVIDEND CASH DIVIDEND 9/11 BOUGHT SOLD BOUGHT 9/16 CASH DIVIDEND SOLD BOUGHT 9/17 SOLD 9/18 SOLD SOLD BOUGHT 9/19 BOUGHT 9/20 SOLD 9/27 CASH DIVIDEND 9/30 CASH DIVIDEND CASH DIVIDEND BANKERS TR NY 9400 OIMHRG INT PAYABLE 09 01 91 TRANSFER OF FUNDS SAME NAME ACCOUNT BOEING CO 27650 DEAN WITTER SEARS LIQUID ASSET 1.00 DWBBRADSTR CP INTL BUSINESS MACHINES CORPN 1000 AMOCO CORP 51951 DEAN WITTER SEARS LIQUID ASSET 862 DEAN WITTER SEARS LIQUID ASSET CARNIVAL CRUISE LINES A 13563 DEAN WITTER SEARS LIQUID ASSET 800 LINCOLN NTL CORP IND 380000 US T BD FED STRIP 0000 06MY15 50000 GMAC 8750 96FBRG AMOUNT INCLUDES ACCRUED INTEREST OF $571.18 50000 BANKERS TR NY 9400 01MHRG ANOINT INCLUDES ACCRUED INTEREST OF $221.94 90598 DEAN WITTER SEARS LIQUID ASSET 193764 DEAN WITTER SEARS LIQUID ASSET 90598 DEAN WITTER SEARS LIQUID ASSET BLACK AND DECKER CORP 9/30 CLOSING CASH BALANCE • BECTON DIO(INSON&CO PEPSICO INC NC 51.951 1.00 1.00 1.00 49.00 2,350.000R 25,000.00CR 300.000R 27,650.000R 378.000R 484.000R 51,951.00DR 51,951.000R 862.00DR 240.000R 13,563.19CR 39,200.00DR 30.525 115,995.0008 101.604 103.142 1.00 1.00 1.00 51,373.18CR 51,792.94CR 90,598.000R 193,764.00DR 90,598.000R 100.000R 174.000R 96.000R .26CR C 24950000 2,350.26CR C 24950000 27,650.26CR C 249J2882 C 249J2882 C 24901200 .26CR C 25226A7S 862.26CR C 25300400 C 25300700 C 24790095 C 2.53N1755 .26CR C 254Q4685 C 25902000 C 259711ZS 25,396.55DR C 25264127 90,598.45CR C 25633791 103,166.57CR 90,597.43DR C 26289583 .57CR C 262L977S 100.57CR C 27301000 C 25440131 C 25440131 C 25440131 C 25440235 C 25440235 C 25440235 C 26131335 C 27300600 370.57CR C 27300800 370.57CR • 00003498 • PAGE 1 ACCOUNT NO A E TAX ID NO PERIOD ENDING INCOME 8 CHARGE SUIIARY 342 015178 04 9 71-0584406 SEP 30 1991 DESCRIPTION THIS MONTH YEAR-TO-DATE CITY OF FAYETTEVILLE POLICE PENSION S RELIEF FWD/MADISON ACCOUNT ATTN: SCOTT LINEBAUGH 113 W MOUNTAIN FAYETTEVILLE AR 72701-6069 YOUR ACCOUNT EXECUTIVE: MIKE KIRKLAND DEAN WITTER REYNOLDS INC. 1ST SO CENTRE,STE 200,280 N.COLG FAYETTEVILLE, AR 72701 TEL 501 575 1400 DIVIDENDS INTEREST INCOME MARGIN INTEREST ACCRUED BOND INTEREST .00 5,041.25CR .00 6,475.49CR .00 53,242.90CR .00 6,953.56CR ACCOUNT VALUATION SUMMARY TOTAL VALUE OF PRICED INVESTMENTS TOTAL VALUE OF CUSTODIAL HOLDINGS CLOSING CASH BALANCE TOTAL ACCOUNT VALUATION YOUR /}/o zo-/6 -f/ 926,787.50 259,655.91 .00 1,186,443.41 71//9 9seS' INVESTMENTS AS OF SEPTEMBER 30 1991 TYPE IDNG OR QUANTITY SHORT DESCRIPTION MONTH END PRICE MARKET VALUE EST DN ESTIMATED RATE/ ANNUAL YIELD INCOME MIR SEC. NO. SH SH CASH CASH CASH CASH CASH CASH LONG LONG LING LONG LONG LONG LONG LONG 50000 50000 50000 50000 325000 200000 100000 60000 EASTMAN KODAK CO TORONTO DOM US 5 XEROX CREDIT DAYTON HUDSON CO FNMA US TSY NOTE US TSY NOTE TNA 9125 *98MHRG 9900 99FBRG 101250 99AP15 9400 O1FBRG 082000 960E23 7875 996V15 850 OOFB15 092000 00SP11 104 3/8 104 1/2 107 1/4 106 1/2 52,187.50 52,250.00 53,625.00 53,250.00 104 338,000.00 102 3/4 205,500.00 106 1/2 106,500.00 109 1/8 65,475.00 TOTAL VALUE OF PRICED INVESTMENTS 926,787.50 8.74 9.47 9.44 8.82 7.88 7.66 7.98 8.43 4,562.50 4,950.00 5,062.50 4,700.00 26,650.00 15,750.00 8,500.00 5,520.00 8.16 75,695.00 99988 TB847 114454 TC629 818116 81.5A4 801D5 811X8 THE CUSTODIANISI OF THE INVESTMENTS LISTED BELOW HAVE REPORTED THAT, AS OF THE DATE SHOWN, YOUR ACCOUNT, MAINTAINED WITH SUCH CUSTODIAN REFLECTED THE FOLLOWING: OUST. FWD DATE ACCOUNT N0. SHARES/UNITS N.A.V. VALUE DWG DEAN WITTER/SEARS LIQUID ASSET 9-30-91 023996279 259,655 1.00 259,655.91 TOTAL VALUE OF CUSTODIAL HOLDINGS 259,655.91 DAILY ACTIVITY DURING SEPTEMBER 1991 DATE ACTIVITY DESCRIPTION PRICE ANOINT CASH BALANCE TYPE REF NO. 8/31 OPENING CASH BALANCE 9/01 INTEREST •9/05 SOLD 9/06 BOUGHT 9/11 INTEREST EASTMAN KODAK CO 9125 *98MHRG 175000 FFCB 086500 990C AMOUNT INCLUDES ACCRUED INTEREST OF $6,475.49 190536 DEAN WITTER SEARS LIQUID ASSET FNMA 092000 005P11 103 28/32 1.00 2,281.25CR 188,254.39CR 190,536.00DR .75CR 2,282.000R 190,536.39CR C 24650000 C 24744608 C 24744608 C 24744608 .39CR C 24946854 2.760.0002 2,760.39CR C 25460000 • 00003001 MONTHLY STATEMENT TITLE OF ACCOUNT CITY OF FAYETTEVILLE POLICE PENSION 8 RELIEF FUND ATTN• SCOTT LINEBAUGH 113W MOUNTAIN FAYETTEVILLE AR 72701 6069 OFFICE ACCT AE TAX ID NO. PERIOD ENDING PAGE 342 018786 049 71-0584406 SEP 30 1991 1 YOUR ACCOUNT NUMBER 342-018786 USE ON ALL CORRESPONDENCE AND PAYMENTS YOUR ACCOUNT EXECUTIVE IS: MIKE KIRKLAND DEAN WITTER REYNOLDS INC. 1ST SO CENTRE,STE 200,280 N.COLG FAYETTEVILLE, AR 72701 TEL 501-575-1400 FISCAL YEAR ENDS 12-31-91 ACCOIM SUMMARY OPENING BALANCE 8/31, ACTIVE ASSETS TRUST BALANCE PLUS CASH BALANCE CLOSING BALANCE 9/30, ACTIVE ASSETS TRUST BALANCE PLUS CASH BALANCE CREDITS TO YOUR ACCOUNT DEPOSITS: •DIRECT DEPOSIT: BRANCH: BAN( WIRE TRANSFER: MAIL (LOCKBOXI: TOTAL DEPOSITS: PLUS: SECURITIES SALES: MONEY FONDS DIV/INT: TOTAL CREDITS: +148,000.00 +148,000.00 +313.02 +148,313.02 CLOSING ACCOUNT BALANCES: ACTIVE ASSETS TRUST BALANCE PLUS CASH BALANCE: PORTFOLIO MARKET VALUE: CLOSING NET EQUITY: INVESTMENTS HELD BY CUSTODIANISI: TOTAL ACCOUNT VALUE: 206,853.75 270,000.00 476,853.75 .00 476,853.75 $95,540.73 5206,853.75 CHARGES AGAINST YOUR ACCOUNT WITHDRAWALS: AUTOMATED TELLER MACHINE: CHECKING TRANSACTIONS: VISA CHARGES: DISCOVER CARD MIN. PAYMENT: AUTOMATIC BILL PAYMENT: TOTAL WITHDRAWALS: PLUS: SECURITY PURCHASES: OTHER CHARGES: TOTAL CHARGES: - 12,000.00 - 12,000.00 - 25,000.00 - 37,000.00 YEAR TO DATE ACTIVITY: MONEY TRUST DIVIDEND TAX FREE TRUST DIVIDEND GOVT SEC TRUST DIVIDEND INSURED ACCOUNT INTEREST DIVIDENDS TAXABLE INTEREST NON-TAXABLE INTEREST ACCRUED INTEREST SOLD MARGIN INTEREST 2,287.68 6,922.50 YOUR AUTHORIZED LIMIT: 206,853.00 • YOUR ACCOUNT AUTHORIZED LIMIT IS SHOWN ABOVE. IT REPRESENTS THE SON OF YOUR TRUST BALANCE PLUS OR MINUS YOUR CASH CREDIT OR DEBIT BALANCE, PLUS THE AMOUNT OF CREDIT WE ARE PERMITTED TO EXTEND TO YOU BASED ON THE VALUE OF THE SECURITIES IN YOUR MARGIN ACCOUNT. CALL OUR TOLL FREE NUMBER 800-869-3326 WITH ANY QUESTIONS REGARDING THIS AMOUNT. • • • • . 00003002 MONTHLY STATEMENT TITLE OF ACCOUNT CITY OF FAYETTEVILLE POLICE PENSION 8 RELIEF FUND OFFICE ACCT AE TAX ID NO. PERIOD ENDING PAGE 342 018786 049 71-0584406 SEP 30 1991 2 ACTIVE ASSETS TRUSTS AND INSURED ACCOUNT FUND/ INSURED ACCOUNT AS OF RATE ANNUALIZED 7 DAY YIELD ANNUALIZED 30 DAY YIELD MONEY TRUST U.S. GOVT. TAX-FREE INSURED ACCT. 09/30 5.12/% 09/30 5.04% 09/30 4.43% 09/30 5.30% 5.12% 5.03% 4.38% 5.30% 5.22% 5.07% 4.23% 5.30% IF YOU WISH TO BORROW, DEAN WITTER'S MARGIN LOAN RATE AS OF 9/30 IS 8.75% TO 10.50% YOUR INVESTMENTS AS OF SEPTEMBER 30 1991 ACCT TYPE LONG OR QUANTITY SHORT DESCRIPTION MONTH- END PRICE VALUE EST DIV ESTIMATED RATE/ ANNUAL YIELD INCOME MIR SEC. NO. CASH CASH CASH • UNG LONG LONG 90000 90000 90000 1ST FED BK CA CD 6400 GREENWOOD TR CD 8000 SEARS 58 CD 8050 92JN19 96MY08 96JN19 100 100 100 TOTAL VALUE OF PRICED INVESTMENTS 206853 ACTIVE ASSETS MONEY TRUST 1 PORTFOLIO NET EQUITY 90,000.00 90,000.00 90,000.00 270,000.00 206,853.00 5476,853.75 6.40 5,760.00 8.00 7,200.00 8.05 7,245.00 7.48 20,205 00 5.22 10,797.72 ZX126 YZ808 ZX137 RECAP OF SEPTEMBER SECURITY TRANSACTIONS DATE ACTIVITY DESCRIPTIQI PRICE AMOUNT T Y REF P NO. DIVIDENDS> INTEREST, RETURN OF PRINCIPAL, WITHHOLDING> 8 MONEY ADJUSTMENTS 9-27 AAA TRUST DIVIDEND ACTIVE ASSETS MONEY TRUST SHARE AND/OR CASH DIVIDENDS ACCUMULATED THIS MONTH +313.02 O 27325837 O 27325837 O 27325837 CHECK ING/AUTOMATIC TRANSACTIONS DATE CHECK NUMBER EXPENSE ANALYZER CODE PAYEE DATE WRITTEN AMOUNT • 9-13 0(1002 CTY FAYETTEVILLE POLICE PENSIO 9-12 TOTAL CHECKING ACTIVITY 12,000.00 12,000.00 • 00003003 MONTHLY STATEMENT TITLE OF ACCOUNT CITY OF FAYETTEVILLE POLICE PENSION B RELIEF FWD OFFICE ACCT AE TAX ID NO. PERIOD ENDING PAGE 342 018786 049 71-0584406 SEP 30 1991 3 LOST VISA CARD? CALL COLLECT ON OUR 24-HOUR HOTLINE (614)243-4242 BALANCE INQUIRIES? CALL TOLL-FREE (800)869-3326 (869 -DEIN) 9AM TO 8PM MONDAY THRU FRIDAY IN NEW YORK CITY CALL (212)392-5000 QUESTIONS REGARDING SECURITIES? CALL YOUR ACCOUNT EXECUTIVE (501)575-1400 DAILY ACTIVITY DURING SEPTEMBER 1991 DATE 'ACTIVITY . DESCRIPTION PRICE CASH BALANCE TRUST OR INSURED BALANCE T Y REF O NO. 8-31 OPENIIIG BALANCE 9-06 JOURNAL OUT • 9-09 SOLD 9-13 CHECK SOLD 9-20 DEPOSIT 9-23 BOUGHT 9-26 DEPOSIT TRANSFER OF FUNDS SAME NAME ACCOUNT 25000 ACTIVE ASSETS MONEY TRUST CTY FAYETTEVILLE POLICE PENSIO 12000 ACTIVE ASSETS MONEY TRUST FUNDS RECEIVED AS OF 9-19-91 WIRE TRANSFER 8000 ACTIVE ASSETS MONEY TRUST FUNDS RECEIVED WIRE TRANSFER 9-27 BOUGHT 140000 SHARE DIVIDEND 313 CASH DIVIDEND 9-30 CLOSING BALANCE ACTIVE ASSETS MONEY TRUST ACTIVE ASSETS MONEY TRUST DIVS ACCUMULATED THIS MONTH ACTIVE ASSETS MONEY TRUST -25,000.00 1 +25,000.00 -12,000.00 1 +12,000.00 +8,000.00 1 -8,000.00 +140,000.00 1 -140,000.00 +.02 +.73 95,540.00 -24,999.27 95,540.00 O 249J2882 O 249J2882 +.73 70,540.00 0 25219666 +.73 58,540.00 0 25635487 +8,000.73 58,540.00 +.73 66,540.00 +140,000.73 +. 75 O 25635486 O 3RE42296 O 3RE42296 O 26618627 O 2X642296 66,540.00 0 2X642296 O 27098474 O 27325837 O 27325837 +.75 206,853.00 0 27325836 206,853.00 SUPPLEMENTAL TAX INFORMATION • REPORTABLE GROSS PROCEEDS TOTAL THIS MONTH TOTAL YEAR- TO-DATE 0 00..150,000.00 THE SUPPLEMENTAL TAX INFORMATION PROVIDED ABOVE SHOULD BE USED ONLY AS A GUIDE, A COMPLETE 1099 WILL BE SENT TO YOU. IMPORTANT MESSAGES DO YOU HAVE CD'S MATURING THIS MONTH? CONSIDER A HIGHER -YIELDING CD ALTERNATIVE THAT MAY DESERVE A PLACE IN YOUR INVESTMENT PORTFOLIO. CALL YOUR DEAN WITTER ACCOUNT EXECUTIVE TODAY. • City of Fayetteville, Arkansas Policemen's Pension & Relief Fund Asset Allocation — Cost Basis September 30, 1991 \BEN\POUNV Cash & Fixed Percent Equivalent Income Equities Total Of (10-25%) (15-75%) (20-40%) Total DEAN WITTER Dean Witter $476,854 $0 $0 $476,854 10% Madision Investment 259,656 884,988 0 1,144,644; 23% Acorn Asset Management 194,450 195,813 681,529 ±` 1,071,792 22% TOTAL DEAN WITTER OLONGER INVESTMENTS, INC. CITY HELD INVESTMENTS (A) TOTAL FUND PERCENT OF TOTAL 82% 54% 38% .. 930,960 1,080,801 681,529 2,693;290 •°'55% 17% 29% 62% 197,086 585,988 1,096,460 0% 17% o% 4,454 350,000 0 879,534 38% $1;132;500. $2;016,789 .$1,77T989 23% .......' 41% ................................................. A. 8.375% U S T—Note, maturing 11-15-92 175,000 7.250% U S T—Note, maturing 07-15-93 175,000 350,000 t7% $4,927;278': 100% 100% • O RETURN Pbr ANNUM O O 0 O O 0 O 0 O O 0 0 bb O O O b O 0 -� 0 o 0 0 • -n Z O 2 L • 0 G SONO9 NI d OD l 0 iQ NI '' OZ .SONO9 NI 2 OR P W 0 ,, 0 S)IDQIS NI d 09 'Scl 0 b S>IDQIS NI DD 1 R • Longer Investments, Incorporated PORTFOLIO APPRAISAL City of Fayetteville Police Pension Fund Stock Account September 30, 1991 Unit Total Market Market Pct. Unit Annual Cur. Ouantity Security Cost Cost Price Value Assets Income Income Yield COMMON STOCK 1,000 Abbott Labs 41.95 41,948.68 53.87 53,875.00 3.6 1.000 1,000.00 1.9 1,000 Arbor Drug 19.87 19,875.00 18.62 18,625.00 1.2 0.140 140.00 0.8 630 Archer Daniels 22.18 13,973.79 25.62 16,143.75 1.1 0.100 63.00 0.4 Midland 500 Armstrong World Ind 32.12 16,062.50 33.25 16,625.00 1.1 1.200 600.00 3.6 1,000 Baxter Intl. 33.35 33,350.00 33.62 33,625.00 2.3 0.740 740.00 2.2 1,000 Bob Evans Farms 18.12 18,125.00 18.00 18,000.00 1.2 0.280 280.00 1.6 1,200 Briggs 8 Stratton 32.82 39,387.50 38.37 46,050.00 3.1 1.600 1,920.00 4.2 800 Bristol Myers Squibb 60.08 48,067.64 82.75 66,200.00 4.4 2.400 1,920.00 2.9 700 C.P.I. Corp. 31.20 21,843.50 28.25 19,775.00 1.3 0.560 392.00 2.0 1,750 Claire's Stores 8.38 14,668.75 8.87 15,531.25 1.0 0.100 175.00 1.1 1,500 Crane Co. 26.24 39,355.00 24.12 36,187.50 2.4 0.750 1,125.00 3.1 900 Dean Foods 30.08 27,075.00 31.75 28,575.00 1.9 0.560 504.00 1.8 1,300 Diebold, Inc. 39.30 51,084.17 47.50 61,750.00 4.1 1.600 2 080 00 3.4 1,500 Emerson Electric 41.05 61,582.50 48.62 72,937.50 4.9 1.320 1,980.00 2.7 1,000 Glexo Holding 35.69 35,687.50 49.00 49,000.00 3.3 0.900 900.00 1.8 1,000 Harnischfeger 21.21 21,213.33 19.37 19,375.00 1.3 0.400 400.00 2.1 Industries 1,000 Hasbro, Inc. 27.82 27,820.00 29.25 29,250.00 2.0 0.240 240.00 0.8 1,000 Hershey Foods 41.83 41,830.00 38.87 38,875.00 2.6 0.980 980.00 2.5 2,000 Homestake Mining 15.30 30,610.00 15.50 31,000.00 2.1 0.200 400.00 1.3 400 Intl Business 116.77 46,708.28 103.62 41,450.00 2.8 4.840 1,936.00 4.7 Machines 2,000 Kesler Corp. 10.44 20,890.00 8.62 17,250.00 1.2 0.100 200.00 1.2 1,500 Luby's Cafeterias 17.91 26 860 00 17.25 25,875.00 1.7 0.500 750.00 2.9 500 Mattel Inc. 23.94 11,972.50 30.75 15,375.00 1.0 0.200 100.00 0.7 1,500 McDonald's Corp 32.38 48,577.50 35.00 52,500.00 3.5 0.370 555.00 1.1 1,000 Mobil Corp 65.19 65,188.33 68.12 68,125.00 4.6 3.200 3,200.00 4.7 1,000 Mylan Labs 17.55 17,546.67 34.25 34,250.00 2.3 0.200 200.00 0.6 1,000 Pacificorp 19.57 19,570.00 23.25 23,250.00 1.6 1.500 1,500.00 6.5 1,200 Philip Morris 44.96 53,948.13 72.00 86,400.00 5.8 2.100 2,520.00 2.9 500 Reader's Digest 28.87 14,435.00 37.50 18,750.00 1.3 0.600 300.00 1.6 950 Safety Kleen 31.50 29,927.50 28.00 26,600.00 1.8 0.320 304.00 1.1 1,400 Syntex Corp. 39.80 55,725.50 41.87 58,625.00 3.9 0.920 1,288.00 2.2 2,000 TRC Cos 11.08 22,170.00 11.50 23,000.00 1.5 0.000 0.00 0.0 800 Toys -R -Us 27.42 21,939.00 34.00 27,200.00 1.8 0.000 0.00 0.0 2,000 Tyson Foods 16.95 33,901.25 19.50 39,000.00 2.6 0.040 80.00 0.2 500 Walmart Stores 29.03 14,514.17 47.75 23,875.00 1.6 0.170 85.00 0.4 400 Waste Management 33.85 13,540.91 37.12 14,850.00 1.0 0.440 176.00 1.2 1,120,974.60 1,267,775.00 85.0 29,033.00 2.3 1 Quantity Security GOVERNMENT BONDS 50,000 100,000 U. S. Treasury Note 7.125X Due 10-15-93 U. S. Treasury Note 8.000% Due 05-15-01 Accrued Interest CASH AND EQUIVALENTS Money Market TOTAL PORTFOLIO Longer Investments, Incorporated PORTFOLIO APPRAISAL City of Fayetteville Police Pension Fund Stock Account September 30, 1991 Unit Total Cost Cost Market Market Price Value Pct. Assets Unit Annual Cur. Income Income Yield 99.75 49,875.00 102.10 51,048.75 3.4 7.125 3,562.50 7.0 98.27 98,265.63 103.37 103,375.00 6.9 8.000 8,000.00 7.7 4,632.81 0.3 148,140.63 159,056.56 10.7 11,562.50 7.5 64,575.45 64,575.45 4.3 5.430 3,506.45 5.4 64,575.45 64,575.45 4.3 1,333,690.68 2 3,506.45 5.4 1,491,407.01 100.0 44,101.95 3.0 • Quantity Security CORPORATE BONDS 100,000 Philip Morris 9.250% Due 12-01-97 Accrued Interest GOVERNMENT BONDS 115,000 24,000 100,000 100,000 U. S. Treasury Note (912827C26) 6.375X Due 08-31-93 U. S. Treasury Note 7.125% Due 10-15-93 Federal Home Loan Mortgage Corp. 9.150% Due 08-08-00 U. S. Treasury Note 8.000% Due 05-15-01 Accrued Interest CASH AND EQUIVALENTS Money Market Longer Investments, Incorporated PORTFOLIO APPRAISAL City of Fayetteville Police Pension Fund Bond Account September 30, 1991 Unit Cost Total Market Cost Price Market Pct. Unit Annual Cur. Value Assets Income Income Yield 100.54 100,543.50 106.56 106,560.00 18.5 9.250 9,250.00 8.7 3,057.64 0.5 100,543.50 109,617.64 19.0 9,250.00 8.7 99.89 114,869.45 100.69 115,790.62 20.1 6.375 7,331.25 6.3 99.91 23,977.50 102.10 24,503.40 4.3 7.125 1,710.00 7.0 100.00 100,000.00 105.87 105,875.00 18.4 9.150 9,150.00 8.6 99.00 99,000.00 103.37 103,375.00 18.0 8.000 8,000.00 7.7 CERTIFICATE OF DEPOSIT (MONTHLY PYMT.) 100,000 First USA Bank Wilmington, DE 8.3% 1.2-96 8.300% Due 01-02-96 TOTAL PORTFOLIO 5,716.35 1.0 337,846.95 355,260.38 61.7 26,191.25 7.5 3,713.28 3,713.28 0.6 5.430 201.63 5.4 3,713.28 3,713.28 0.6 201.63 5.4 100.00 100,000.00 107.00 107,000.00 18.6 8.300 8,300.00 7.8 100,000.00 107,000.00 18.6 542,103.73 8,300.00 7.8 575,591.30 100.0 43,942.88 7.8 Quantity COMMON STOCK 1,000 1,000 630 Security Abbott Labs Arbor Drug Archer Daniels Midland Longer Investments, Incorporated PORTFOLIO APPRAISAL City of Fayetteville Police Pension Fund Combined Account September 30, 1991 Unit Cost Total Market Cost Price Market Pct. Unit Annual Cur. Value Assets Income Income Yield 41.95 41,948.68 53.87 53,875.00 2.6 1.000 1,000.00 1.9 19.87 19,875.00 18.62 18,625.00 0.9 0.140 140.00 0.8 22.18 13,973.79 25.62 16,143.75 0.8 0.100 63.00 0.4 500 Armstrong World Ind 32.12 1,000 Baxter Int'l. 33.35 1,000 Bob Evans Farms 18.12 1,200 Briggs 8 Stratton 32.82 800 Bristol Myers Squibb 60.08 700 C.P.I. Corp. 31.20 1,750 Claire's Stores 8.38 1,500 Crane Co. 900 Dean Foods 1,300 Diebold, Inc. 1,500 Emerson Electric 1,000 Glaxo Holding 1,000 Harnischfeger Industries 1,000 Hasbro, Inc. 1,000 Hershey Foods 2,000 Homestake Mining 400 Int'l Business Machines 2,000 Kesler Corp. 1,500 Luby's Cafeterias 500 Mattel Inc. 1,500 McDonald's Corp 1,000 Mobil Corp. 1,000 Mylan Labs 1,000 Pacificorp 1,200 Philip Morris 500 Reader's Digest 950 Safety Kteen 1,400 Syntex Corp 2,000 TRC Cos 800 Toys -R -Us 2,000 Tyson Foods 500 Walmart Stores 400 Waste Management • 16,062.50 33.25 16,625.00 0.8 1.200 600.00 3.6 33,350.00 33.62 33,625.00 1.6 0.740 740.00 2.2 18,125.00 18.00 18,000.00 0.9 0.280 280.00 1.6 39,387.50 38.37 46,050.00 2.2 1.600 1,920.00 4.2 48 067 64 82.75 66,200.00 3.2 2.400 1,920.00 2.9 21,843.50 28.25 19,775.00 1.0 0.560 392.00 2.0 14,668.75 8.87 15,531.25 0.8 0.100 175.00 1.1 26.24 39,355.00 24.12 36,187.50 1.8 0.750 1,125.00 3.1 30.08 27,075.00 31.75 28,575.00 1.4 0.560 504.00 1.8 39.30 51,084.17 47.50 61,750.00 3.0 1.600 2,080.00 3.4 41.05 61,582.50 48.62 72,937.50 3.5 1.320 1,980.00 2.7 35.69 35,687.50 49.00 49,000.00 2.4 0.900 900.00 1.8 21.21 21,213.33 19.37 19,375.00 0.9 0.400 400.00 2.1 27.82 27,820.00 29.25 29,250.00 1.4 0.240 240.00 0.8 41.83 41,830.00 38.87 38,875.00 1.9 0.980 980.00 2.5 15.30 30,610.00 15.50 31,000.00 1.5 0.200 400.00 1.3 116.77 46,708.28 103.62 41,450.00 2.0 4.840 1,936.00 4.7 10.44 20,890.00 8.62 17,250.00 0.8 0.100 200.00 1.2 17.91 26,860.00 17.25 25,875.00 1.3 0.500 750.00 2.9 23.94 11,972.50 30.75 15,375.00 0.7 0.200 100.00 0.7 32.38 48,577.50 35.00 52,500.00 2.5 0.370 555.00 1.1 65.19 65,188.33 68.12 68,125.00 3.3 3.200 3,200.00 4.7 17.55 17,546.67 34.25 34,250.00 1.7 0.200 200.00 0.6 19.57 19,570.00 23.25 23,250.00 1.1 1.500 1,500.00 6.5 44.96 53,948.13 72.00 86,400.00 4.2 2.100 2,520.00 2.9 28.87 14,435.00 37.50 18,750.00 0.9 0.600 300.00 1.6 31.50 29,927.50 28.00 26,600.00 1.3 0.320 304.00 1.1 39.80 55,725.50 41.87 58,625.00 2.8 0.920 1,288.00 2.2 11.08 22,170.00 11.50 23,000.00 1.1 0.000 0.00 0.0 27.42 21,939.00 34.00 27,200.00 1.3 0.000 0.00 0.0 16.95 33,901.25 19.50 39,000.00 1.9 0.040 80.00 0.2 29.03 14,514.17 47.75 23,875.00 1.2 0.170 85.00 0.4 33.85 13,540.91 37.12 14,850.00 0.7 0.440 176.00 1.2 1,120,974.60 1,267,775.00 61.3 29,033.00 2.3 1 4 • quantity Security CORPORATE BONDS 100,000 Philip Morris 9.250% Due 12-01-97 Accrued Interest GOVERNMENT BONDS 115,000 74,000 100,000 200,000 U. S. Treasury Note (912827C26) 6.375% Due 08-31-93 U. S. Treasury Note 7.125% Due 10-15-93 Federal Home Loan Mortgage Corp 9.150% Due 08-08-00 U. S. Treasury Note 8.000% Due 05-15-01 Accrued Interest CASH AND EQUIVALENTS Money Market Longer Investments, Incorporated PORTFOLIO APPRAISAL City of Fayetteville Police Pension Fund Combined Account September 30, 1991 Unit Total Cost Cost Market Market Pct. Unit Annual Cur. Price Value Assets Income Income Yield 100.54 100,543.50 106.56 106,560.00 5.2 9.250 9,250.00 8.7 3,057.64 0.1 100,543.50 109,617.64 5.3 9,250.00 8.7 99.89 114,869.45 100.69 115,790.62 5.6 6.375 7,331.25 6.3 99.80 73,852.50 102.10 75,552.15 3.7 7.125 5,272.50 7.0 100.00 100,000.00 105.87 105,875.00 5.1 9.150 9,150.00 8.6 98.63 197,265.63 103.37 206,750.00 10.0 8.000 16,000.00 7.7 CERTIFICATE OF DEPOSIT (MONTHLY PYMT.) 100,000 First USA Bank Wilmington, DE 8.3% 1-2-96 8.300% Due 01-02-96 TOTAL PORTFOLIO • 10,349.17 0.5 485,987.58 514,316.94 24.9 37,753.75 7.5 68,288.73 68,288.73 3.3 5.430 3,708.08 5.4 68,288.73 68,288.73 3.3 3,708.08 5.4 100.00 100,000.00 107.00 107,000.00 5.2 8.300 8,300.00 7.8 100,000.00 107,000.00 5.2 1,875,794.41 2 8,300.00 7.8 2,066,998.31 100.0 88,044.83 4.3 0 J O m L 0 40 L8.) -E, L 6 0 O O C a) U C J = 0 • o 0 0 W O. 0 0 U Q WC z Y E r — 0 O 0 > •O• O Li- Ill > W V y - et 0 T L a 0 C O O J V C L U J V M G K L 0 0 0 O. 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N N N M P M W.SA M O O M N M O N N ✓ O O e O O e N N N •O M •0 A M P •O <3 .t N e O N M .t O O A M 1 - N M .fi Ot M .t P .t A N 0300.111111•40 •O M A •O •AO N J M .t A N O M .t .t N e 490 N 0 .Pt P e Ih P N •O P O OW .t N N .t A N OW NN Ne .t e OW N N e A N O W A v P P :7./43:1 fit P .t •O N O M .t .t a A M e N d m P •O N M •O lO M Nen A .t P O 0 M N M e 0 NO NM 000000000 e 0 e 0 e 0 e e 0 M N M M M M M M M - N M N A W P 000000000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.000000000 e eec0e0e0ee MMMCVMMMMMM N M .t N A O 0 0 0 0 0 0 0 0 0 Date to Date • • m 0 - CC w S 0 w AC 1.0 X 0 > - u - LL z 0 - O w O PEC 0 0 w CO 4.00 S O GIw - O 0 w w O .O m P Ws 0 0 in O r NI in N N O .} • N N P •O O N N O O r r r .- r N N 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O N N N 1 O MO O O I` M M N M {{Opp O�pp mNm o P CO P n n n •O •O •O 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O O .O .O M N. .O m .O O O O O • N N M .O CO 0 0 0 0 0 0 0 0 0 0 O .O O N f O N N O N A n O A P N .1 O N^ ^' r` N N .t O O N N N N .O O N rig (.73 .1000 M N M r 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 P CO CO INn CO r P o co M ▪ N r r O O O O O • • N • • 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O MO N .t .t O O .p O A M P .1 M O • O O r O O O N N N IN - CM N O N 0 0 O O O O 00 N P N LOA .1 OJ • .} •-•• J P N P O O .t N .t N O .1 M M P P P P P P P P P ▪ N M M M M M M M M ✓ N M .t N •O I. eD P 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O O P P P P P P P P P (O r 0 r O r M M • M N M M M M M M N N r N M .1 N .O n- co ✓ r 0 0 0 0 0 0 0 0 Date to Date • d 0 i C tit NI Q) a >' 0 CC ^N co aopc, • 0o CL W p > m a 4.1 azi co N O`` • 7 Equity Account S & P 500 • 0 0 o E .a 1 ) r°0 o) r a c d 0 CC M •0 3 a oma, CL C. a� 0) O > LO o/� W �/� ■ 0 oa 0 N a) U o — O ■ 0 M FPD Equities Only +21.08% FPD Equity Account +18.41% 0 N S & P 500 +13.52% • • • • • • • 0 T 0 0 a c c U a) 0 0 Z Month End Equity Account S & P 500 a) Y 131 0 uJ • 3 LL O 10 1- 4111 8 L p[ Oy O C CA U 0 S4 CO W 6 0 M U U C z u a a1pC- N O > w LL 0 0) C w — a u L 10 0 LL 0) O O J • g' X N N 0 L"F CO m L N - O •+ 6 N S O b O W .c O M N O .4- .4 in J S 3 W Q. 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N N o P 0 4 40 •O e0 in 4 A v v O 4 r •t .t P .t P N O O O N nJ O 4 M M m N A P O O 0 CV 44 in 01) CV tri O P m N •O .t CO M N P O O N N M M A P 0 4 0 0 0 0 0 0 0 0 0 in P V\ m b A N O r O M V M O N N r O O r O O r N N • v A P N CO •O M •O r A M P •O .fit P .t M r O N M .t co O A M N Oco J N J P . t A PN CO P O O PO .i VO • o • In b o Cp .t in .t m .1 J •O A N r V• 'O M OJ •O •O n .1 M .t A N O M N O V.• O m N N N O V P^ N P N •O J r .t A N O V .t .i N r O m • • N N M N 44 G e O CO J O O. v P •t •O N O M .t q r e A M • • r N P d d A V •43 Vi N 0 0 0 0 0 0 0 N N O• P P P O• P O• O• O• r m— 0 r 01011•11441010101121 N M v M d A m 04 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 P P P P O• O• P O• O• O• O O O r M M M N M M M M M M N N r N M V• •O (O r r 0 0 0 4 0 0 0 A 0 0 Date to Date • • • • • d 0 03 E i 0) i C c OM .0 = d CL d I- / L a° o • ML ■w_,c W E C cu 03 U5 > 0 U FPD Bond Account • • ndex +9.41% • • • • • • • • , • • • • • • 1 • • • O T c0 CD Ncr N 0 aT) E a2 a a) cnrn a) W 2 0 2 a L 1- nY 2 is 7 LL tt c Bond Account Treasury Index • Date Quantity Longer Investments, Incorporated REALIZED CAPITAL GAINS AND LOSSES City of Fayetteville Police Pension Fund Combined Account From 01-01-91 Through 09-30-91 Security Cost Basis Proceeds Gain Or Loss 01-03-91 01-04-91 01-07-91 01-14-91 01-14-91 01-14-91 01-14-91 01-14-91 01.22-91 01-28-91 01-29-91 01-31-91 01-31-91 02-05-91 02-07-91 02-27-91 02-27-91 03.01-91 03x01-91 03-01-91 03.01-91 03.01-91 03.06-91 03-15-91 03.20-91 03721-91 03-27-91 04-01-91 04-08-91 04-10-91 04.17-91 04.22-91 04-23-91 04-24-91 04-29-91 05-09-91 05-10-91 05-10-91 05-10-91 05.10-91 500 Laidlaw Inc. Class e 1,000 Chemical Waste Management 1,000 Eastman Kodak 1,500 Claire's Stores 1,000 Hershey Foods 700 Ingersoll-Rand 700 J.8. Hunt 400 Minnesota Mining 8 Mfg. 200 Jacobs Engineering 900 Abbott Labs 300 Ingersoll-Rand 600 Pacificorp 250 Warner Lambert 500 Ingersoll-Rand 1,000 Greiner Engineering 600 Fluor Corp. 600 Westinghouse Elec 600 Community Psychiatric Center 300 Crane Co. 300 Fluor Corp 600 Jacobs Engineering 400 Waste Management 500 Mobil Corp 500 Warner Lambert 2,000 Baroid Corp 700 Crane Co. 500 Mobil Corp. 1,000 National Service Industries 500 Luby's Cafeterias 400 Tyson Foods 8 IBM April 110 Puts 300 Diebold Inc. 500 Bergen Brunswig 600 Community Psychiatric Center 700 Motorola, Inc. 700 Tyson Foods 300 Bristol Myers Squibb 500 John N. Harland 400 Morrison Knudsen 700 Schlumberger, LTD 11,222.50 8,999.69 18,945.00 21,304.28 42,865.00 40,023.66 14,355.00 14,332.01 35,570.00 35,998.79 25,445.00 25,199.15 10,587.50 11,987.50 29,986.44 32,098.92 4,120.00 5,094.82 37,753.82 39,711.17 10,980.00 12,824.57 11,742.00 12,524.58 16,033 75 17,499.41 18,300.00 21,699.27 13,070.00 14,249.52 23,470.18 31,513.94 17,967.00 16,457.45 17,760.00 21,089.29 6,774.00 7,312.25 11,735.09 15,899.46 12,360.00 23,324.22 13,540.91 16,849.43 31,085.83 31,811.43 32,067.50 38,213.72 14,222.18 15,859.46 15,806.00 18 668 37 31,085.83 32,276.42 25,927.10 25,929.13 9,066.25 9,749.67 11,065.00 16,264.00 1,144.90 720.61 11,005.00 11,999.59 15,472.50 13,022.06 21,435.00 21,014.29 41,034.00 45,603.47 9,681.87 14,525.00 18,025.36 23,924.20 11,035.00 11,589.61 20,250.00 21,149.29 38,511.00 44,917.50 -2,222.81 2,359.28 -2,841.34 -22.99 428.79 -245.85 1,400.00 2,112.48 974.82 1,957.35 1,844.57 782.58 1,465.66 3,399.27 1,179.52 8,043.76 -1,509.55 3,329.29 538.25 4,164.37 10,964.22 3,308.52 725.60 6,146.22 1,637.28 2,862.37 1,190.59 2.03 683.42 5,199.00 -424.29 994.59 -2,450.44 -420.71 4,569.47 4,843.12 5,898.84 554.61 899.29 6,406.50 • .♦ • • • • Date Quantity Longer Investments, Incorporated REALIZED CAPITAL GAINS AND LOSSES City of Fayetteville Police Pension Fund Combined Account From 01-01-91 Through 09-30-91 Security Cost Basis Proceeds Gain Or Loss 05-14-91 05-14-91 05-15-91 05-15-91 05-15-91 06-05-91 06-11-91 06-13-91 07-02-91 07-12-91 07-22-91 07-24-91 07-24-91 08-06-91 08-19-91 08-19-91 08-19-91 08-19-91 08-19-91 08-19-91 08-19-91 08-19-91 08-21-91 08-27-91 09-01-91 09-03-91 09-18-91 09-18-91 TOTAL GAINS TOTAL LOSSES 1,000 500 400 500 300 100,000 7 50,000 500 300 500 800 500 500 400 500 300 400 500 300 400 400 100,000 94,000 400 700 1,000 900 Crown Craft John H. Harland Intl Business Machines International Paper Co. Reader's Digest G. E. Capital Corp. 8.000% Due 12-01-92 OEX June 350 Puts U. S. Treasury Note 7.125X Due 10-15-93 Tyson Foods Waste Management Warner Lambert Dreyer's Grand Ice Cream Warner Lambert Bergen Brunswig Diebold, Inc. Harnischfeger Industries Mattel Inc. Minnesota Mining & Mfg. Mylan Labs Safety Kleen Toys -R -Us United Telecommunication U. S. Treasury Strip (9128330A5) 0.000% Due 08-15-11 Mcllroy Bank & Trust (Matures 8-27-91) 7.805% Due 11-27-91 Southwestern Bell Fluor Corp. Limited United Telecommunication 2 10,747.00 11,624.60 11,035.00 11,527.11 46,708.28 40,562.64 31,477.50 31,561.44 8,661.00 9,637.17 99,860.00 101,177.00 877.60 492.11 -6,145.64 83.94 976.17 1,317.00 3,386.60 571.96 -2,814.64 49,875.00 49,715.62 6,915.62 10,155.68 35,655.50 20,600.00 35,655.50 15,472.50 14,673.33 10 606 67 7,183.50 29,986.44 8,773.33 9,870.00 10,969.50 10,856.92 17,716.00 10,125.00 10,613.64 33,686.37 24,900.00 33,623.87 13,777.03 17,399.41 9,964.66 6,849.77 33,348.88 12,437.08 8,874.70 11,949.60 9,949.66 19,050.00 94,000.00 94,000.00 21,100.00 21,789.27 27,381.87 31,236.45 28,600.00 26,749.10 24,428.08 21,036 79 -159.38 3,209.37 457.96 -1,969.13 4,300.00 -2,031.63 -1,695.47 2,726.08 -642.01 -333.73 3,362.44 3,663.75 -995.30 980.10 -907.26 1,334.00 0.00 689.27 3,854.58 -1,850.90 -3,391.29 119,190.03 -33,074.35 1,464,854.34 1,550,970.02 86,115.68 • Date Longer Investments, Incorporated INTEREST, DIVIDENDS, AND EXPENSES City of Fayetteville Police Pension Fund Combined Account From 01-01-91 Through 09-30-91 Security Amount COMMON STOCK O 1-02-91 01-03-91 O 1-03--91 O 1-03-91 O 1-10-91 O 1-11-91 O 1-15-91 O 1-16-91 02-01-91 02-15-91 02-15-91 02-25-91 03-01-91 03-04791 03-08-91 03-11-91 03-11-91 03-11-91 03-12791 03-14-91 03-15-91 03-28-91 04-01-91 04-03-91 04-04-91 04-05-91 04-08-91 04-10-91 04-10-91 04-15-91 04-17-91 05-01-91 05-01-91 05-15-91 05-15-91 05-30-91 O 6-03-91 O 6-03-91 O 6-03-91 O 6-07-91 O 6-10-91 O 6-10-91 O 6-10-91 • Walmart Stores Chemical Waste Management Reebok Int'l. Waste Management Philip Morris Schlumberger, LTD Mylan Labs Fluor Corp. Bristol Myers Squibb Abbott Labs Pacificorp Archer Daniels Midland Westinghouse Elec Diebold, Inc. Warner Lambert Emerson Electric Int'l Business Machines Mobil Corp. Minnesota Mining & Mfg. Crane Co. Tyson Foods Baroid Corp. Luby's Cafeterias Mattel Inc. Waste Management Schlumberger, LTD Walmart Stores Philip Morris National Service Industries Mylan Labs Fluor Corp. Bristol Myers Squibb Reader's Digest Abbott Labs Pacificorp John H. Harland Archer Daniels Midland Bergen Brunswig Glaxo Holding Diebold, Inc. Emerson Electric Int'l Business Machines Mobil Corp. 1 17.50 40.00 75.00 72.00 344.00 150.00 75.00 80.00 360.00 399.00 576.00 15.00 210.00 400.00 220.00 396.00 726.00 1,087.50 312.00 131.25 15.00 100.00 172.50 24.00 63.00 210.00 21.25 516.00 240.00 75.00 56.00 660.00 120.00 250.00 360.00 107.50 15.00 50.00 233.10 480.00 495.00 968.00 400.00 • • • Date 06-12-91 06-14-91 06-17-91 06-17-91 07-01-91 07-02-91 07-05-91 07-05-91 07-05-91 07-10-91 07-15-91 07-17-91 08-01-91 08-01-91 08-01-91 08-15-91 08-15-91 09-03-91 09-03-91 09-04-91 09-10-91 09-10-91 09-10-91 09-12-91 09-13,-91 09-13-91 09-13-91 09-16-91 09-16-91 09-17-91 09-18-91 09-18-91 09-24-91 09-26-91 09-30-91 09-30-91 Longer Investments, Incorporated INTEREST, DIVIDENDS, AND EXPENSES City of Fayetteville Police Pension Fund Combined Account From 01-01-91 Through 09-30-91 Security Amount Minnesota Mining & Mfg. Dean Foods Morrison Knudsen Tyson Foods Luby's Cafeterias Mattel Inc. Dreyer's Grand Ice Cream Walmart Stores Waste Management Philip Morris Mylan Labs Fluor Corp. Bristol Myers Squibb Reader's Digest Southwestern Bell Abbott Labs Pacificorp Archer Daniels Midland Bergen Brunswig Diebold, Inc. Emerson Electric Int'l Business Machines Mobil Corp. Minnesota Mining & Mfg. Crane Co. Dean Foods Hershey Foods Syntex Corp. Tyson Foods Bergen Brunswig Dean Foods McDonald's Corp Limited Safety Kleen Luby's Cafeterias United Telecommunication 2 312.00 111.00 148.00 15.00 115.00 40.00 40.00 21.25 77.00 516.00 75.00 56.00 480.00 75.00 284.00 250.00 375.00 15.00 50.00 480.00 495.00 484.00 400.00 312.00 187.50 84.00 245.00 253.00 10.00 12.50 42.00 138.75 70.00 76.00 125.00 225.00 18,012.60 • • • • Date Longer Investments, Incorporated INTEREST, DIVIDENDS, AND EXPENSES City of Fayetteville Police Pension Fund Combined Account From 01-01-91 Through 09-30-91 Security Amount CORPORATE BONDS 06-01-91 06-01-91 06-05-91 G . E. Capital Corp. 8.000% Due 12-01-92 Philip Morris 9.250% Due 12-01-97 G . E. Capital Corp. 8.000% Due 12-01-92 GOVERNMENT BONDS 02-08,-91 03-01-91 O 3-10-91 04-15-91 04-15791 06-05-91 06-05-91 O 6-13791 O 6-13-91 08-08-91 Federal Home Loan Mortgage Corp. 9.150% Due 08-08-00 U . S. Treasury Note 7.125% Due 10-15-93 U . S. Treasury Note 7.125% Due 10-15-93 U . S. Treasury Note 7.125% Due 10-15-93 U . S. Treasury Note 7.125% Due 10-15-93 U . S. Treasury Note 8.000% Due 05-15-01 U . S. Treasury Note 8.000% Due 05-15-01 U . S. Treasury Note 8.000% Due 05-15-01 U . S. Treasury Note 7.125% Due 10-15-93 Federal Home Loan Mortgage Corp. 9.150% Due 08-08-00 3 4,000.00 4,625.00 111.11 8,736.11 4,575.00 -2,818.68 - 695.27 3,562.50 855.00 - 239.13 - 608.70 - 391.30 642.42 4,575.00 9,456.84 Date Longer Investments, Incorporated INTEREST, DIVIDENDS, AND EXPENSES City of Fayetteville Police Pension Fund Combined Account From 01-01-91 Through 09-30-91 Security Amount CASH AND EQUIVALENTS 02-01-9 03-01-9 03-01-9 04-01-9 04-01-9 05-01-9 05-01-9 06-03-9 06-03-9 07-01-9 07-01-9 08-01-9 08-011-9 09-03-9 09-03-9 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money 1 Money Market Market Market Market Market Market Market Market Market Market Market Market Market Market Market CERTIFICATE OF DEPOSIT 08-27-91 Mcllroy Bank & Trust (Matures 8-27-91) 7.805% Due 11-27-91 773.32 79.76 135.80 154.48 48.78 4.06 46.68 192.75 277.38 363.77 127.81 12.13 88.94 677.25 625.15 3,608.06 5,594.91 5,594.91 • • • • Date Longer Investments, Incorporated INTEREST, DIVIDENDS, AND EXPENSES City of Fayetteville Police Pension Fund Combined Account From 01-01-91 Through 09-30-91 Security Amount CERTIFICATE OF DEPOSIT (MONTHLY PYMT.) 01-30-91 First USA Bank Wilmington, DE 8.3% 1-2-96 8.300% Due 01-02-96 02-27-91 First USA Bank Wilmington, DE 8.3% 1-2-96 8.300% Due 01-02-96 04-04-91 First USA Bank Wilmington, DE 8.3% 1-2-96 8.300% Due 01-02-96 05-10-91 First USA Bank Wilmington, DE 8.3% 1-2-96 8.300% Due 01-02-96 06-10-91 First USA Bank Wilmington, DE 8.3% 1-2-96 8.300% Due 01-02-96 06-28-91 First USA Bank Wilmington, DE 8.3% 1-2-96 8.300% Due 01-02-96 07-10-91 First USA Bank Wilmington, DE 8.3% 1-2-96 8.300% Due 01-02-96 08-02-91 First USA Bank Wilmington, DE 8.3% 1-2-96 8.300% Due 01-02-96 5 714.72 645.56 645.56 115.27 714.72 645.56 691.67 714.72 4,887.78 • Date Longer Investments, Incorporated INTEREST, DIVIDENDS, AND EXPENSES City of Fayetteville Police Pension Fund Combined Account From 01-01-91 Through 09-30-91 Security Amount EXPENSE ACCOUNTS 02-01-91 03-01-91 03-01-91 04-01-91 04-01-91 05-01-91 05-01-91 06-03-91 06-03-91 07-01-91 07-01-91 08-01-91 08-01-91 09-03-91 09-03-91 09-24-91 Automated Automated Automated Automated Automated Automated Automated Automated Automated Automated Automated Cash Cash Cash Cash Cash Cash Cash Cash Cash Cash Cash Automated Cash Automated Cash Automated Cash Automated Cash Miscellaneous Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Mgmt. Expense AFTER FEE PERFORMANCE EXPENSE ACCOUNTS O 1-14-91 O 1-14-91 02-05-91 02-05-91 03-18-91 03-18-91 04-08-91 04-08-91 05-24-91 05-24-91 06-28-91 06-28-91 07-08-91 07-08-91 09-30-91 09-30-91 Management Fee Management Fee Northern Trust Northern Trust Northern Trust Northern Trust Management Fee Management Fee Northern Trust Northern Trust Northern Trust Northern Trust Management Fee Management Fee Northern Trust Northern Trust Fee Fee Fee Fee Fee Fee Fee Fee Fee Fee 26.63 3.03 5.16 6.15 1.94 O .16 1.81 8.29 11.92 15.30 5.38 O .53 3.91 29.10 26.86 3.70 149.87 2,739.39 1,296.18 325.00 75.00 385.10 216.62 3,011.49 1,418.09 278.63 131.12 278.63 131.12 3,132.08 1,343.67 290.60 119.15 15,171.87 NET INCOME 34,974.56 • Date Quantity Longer Investments, Incorporated PURCHASE AND SALE REPORT City of Fayetteville Police Pension Fund Stock Account From 01-01-91 To 09-30-91 Security Unit Price Amount PURCHASES O 1-07-91 08-07-91 09-12-91 07-24-91 04-01-91 09-13-91 06-05-91 09-17-91 O 1-04-91 01-04-91 08-27-91 09-16-91 09-19-91 O 1-29-91 03-22-91 O 1-30-91 09-01-91 09-20-91 04-24-91 03-25-91 O 2-91 O 1-91 0 -07-91 08-22-91 05-23-91 05-01-91 01-18-91 01-22-91 01-30-91 04-22-91 07-24-91 07-30-91 09-19-91 08-09-91 08-26-91 01-17-91 01-23-91 02-07-91 05-01-91 01-07-91 03-06-91 08-23-91 • 1,000 Abbott Labs 1,000 Arbor Drug 500 Armstrong World Ind 1,000 Baxter Int'1. 1,000 Bergen Brunswig 1,000 Bob Evans Farms 900 Briggs & Stratton 300 Briggs & Stratton 200 Bristol Myers Squibb 300 Bristol Myers Squibb 700 C.P.I. Corp. 1,000 Claire's Stores 750 Claire's Stores 600 Community Psychiatric Center 600 Community Psychiatric Center 1,000 Crane Co. 1,000 Crane Co. 500 Crane Co. 1,000 Crown Craft 600 Dean Foods 500 Diebold, Inc. 500 Diebold, Inc. 500 Diebold, Inc. 500 Diebold, Inc. 800 Dreyer's Grand Ice Cream 300 Emerson Electric 300 Fluor Corp. 300 Fluor Corp. 700 Glaxo Holding 300 Glaxo Holding 1,000 Harnischfeger Industries 500 Harnischfeger Industries 1,000 Hasbro, Inc. 1,000 Hershey Foods 2,000 Homestake Mining 800 Ingersoll-Rand 200 Int'1 Business Machines 200 Int'l Business. Machines 500 International Paper Co. 800 Jacobs Engineering 1,000 John H. Harland 2,000 Kasler Corp. 1 40.35 40,350.00 19.87 19,875.00 32.12 16,062.50 33.35 33,350.00 30.94 30,945.00 18.12 18,125.00 31.37 28,237.50 37.17 11,150.00 62.40 12,480.00 62.87 18,861.00 31.20 21,843.50 8.87 8,875.00 7.72 5,793.75 29.60 17,760.00 35.72 21,435.00 22.58 22,580.00 27.32 27,320.00 24.07 12,035.00 10.75 10,747.00 45.12 27,075.00 35.10 17,550.00 37.60 18,800.00 37.35 18,675.00 43.47 21,737.50 25.75 20,600.00 44.99 13,498.50 39.25 11,775.00 39.37 11,811.00 35.00 24,500.00 37.29 11,187.50 20.82 20,820.00 22.00 11,000.00 27.82 27,820.00 41.83 41,830.00 15.30 30,610.00 36.60 29,280.00 120.02 24,005.00 130.90 26,180.00 62.95 31,477.50 20.60 16,480.00 22.07 22,070.00 10.44 20,890.00 • • • • Date Quantity Longer Investments, Incorporated PURCHASE AND SALE REPORT City of Fayetteville Police Pension Fund Stock Account From 01-01-91 To 09-30-91 Security Unit Price Amount 09-01-91 09-27-91 03-06-91 08-01-91 08-02-91 09-23-91 05-01-91 03-27-91 03-05-91 01-18-91 01-30-91 07-10-91 07-30-91 08-23-91 01-17-91 04-10-91 06-03-91 09-16-91 07-01-91 08-02-91 03-22-91 01-04-91 09-25-91 5-91 1-91 05-24-91 06-03-91 01-03-91 04-10-91 05-17-91 06-05-91 06-13-91 03-01-91 1,000 Limited 500 Luby's Cafeterias 800 Mattel Inc. 1,000 McDonald's Corp 500 McDonald's Corp 500 Mobil Corp. 400 Morrison Knudsen 700 Motorola, Inc. 1,000 National Service Industries 400 Philip Morris 800 Reader's Digest 350 Safety Kleen 400 Safety Kleen 500 Safety Kleen 200 Schlumberger, LTD 400 Southwestern Bell 1,100 Syntex Corp. 300 Syntex Corp. 1,000 TRC Cos 1,000 TRC Cos 600 Toys -R -Us 500 Tyson Foods 1,000 Tyson Foods 800 United Telecommunication 500 United Telecommunication 600 Warner Lambert 400 Warner Lambert 300 Waste Management 8 IBM April 110 Puts 7 OEX June 350 Puts 50,000 U. S. Treasury Note 8.000% Due 05-15-01 50,000 U. S. Treasury Note 8.000% Due 05-15-01 100,000 U. S. Treasury Note 7.125% Due 10-15-93 2 28.60 17.45 23.94 32.48 32.19 68.20 50.62 58.62 25.93 53.00 28.87 31.64 34.00 30.24 53.80 52.75 39.07 42.49 10.85 11.32 26.00 29.94 20.07 27.00 27.37 72.62 69.34 35.12 1.43 4.84 98.87 97.66 99.75 28,600.00 8,727.50 19,156.00 32,480.00 16,097.50 34,102.50 20,250.00 41,034.00 25,927.10 21,200.00 23,096.00 11,075.00 13,600.00 15,122.50 10,761.00 21,100.00 42,977.00 12,748.50 10,850.00 11,320.00 15,600.00 14,972.50 20,070.00 21,600.00 13,685.00 43,575.00 27,736.00 10,537.50 1,144.90 3,386.60 49,437.50 48,828.13 99,750.00 1,668,044.98 • • • Date Quantity Longer Investments, Incorporated PURCHASE AND SALE REPORT City of Fayetteville Police Pension Fund Stock Account From 01-01-91 To 09-30-91 Security Unit Price Amount SALES 01-28-91 03-20-91 04-23-91 08-06-91 05-10-91 01-04-91 01-14-91 03-01-91 04-24-91 03-01-91 03-21-91 05-14-91 04-22-91 08-19-91 07-24-91 01-07-91 02-27-91 03-01-91 09-03-91 02-07-91 affir(j�14-91 4-91 01-14-91 01-29-91 02-05-91 05-15-91 05-15-91 01-14-91 01-22-91 03-01-91 05-10-91 05-14-91 01-03-91 09-18-91 04-08-91 08-19-91 01-14-91 08-19-91 03-06-91 03-27-91 05-10-91 04-29-91 900 2,000 500 500 300 1,000 1,500 600 600 300 700 1,000 300 400 800 1,000 600 300 700 1,000 500 1,000 700 300 500 400 500 700 200 600 500 500 500 1,000 i 500 300 400 400 500 500 400 700 Abbott Labs Baroid Corp. Bergen Brunswig Bergen Brunswig Bristol Myers Squibb Chemical Waste Management Claire's Stores Community Psychiatric Center Community Psychiatric Center Crane Co. Crane Co. Crown Craft Diebold, Inc. Diebold, Inc. Dreyer's Grand Ice Cream Eastman Kodak Fluor Corp. Fluor Corp. Fluor Corp. Greiner Engineering Harnischfeger Industries Hershey Foods Ingersoll-Rand Ingersoll-Rand Ingersoll-Rand Int'l Business Machines International Paper Co. J.B. Hunt Jacobs Engineering Jacobs Engineering John H. Harland John H. Harland Laidlaw Inc. Class B Limited Luby's Cafeterias Mattel Inc. Minnesota Mining & Mfg. Minnesota Mining & Mfg. Mobil Corp. Mobil Corp. Morrison Knudsen Motorola, Inc. 3 44.12 39,711.17 7.93 15,859.46 26.04 13,022.06 27.55 13,777.03 79.75 23,924.20 21.30 21,304.28 9.55 14,332.01 35.15 21,089.29 35.02 21,014.29 24.37 7,312.25 26.67 18,668.37 11.62 11,624.60 40.00 11,999.59 43.50 17,399.41 31.12 24,900.00 40.02 40,023.66 52.52 31,513.94 53.00 15,899.46 44.62 31,236.45 14.25 14,249.52 19.93 9,964.66 36.00 35,998.79 36.00 25,199.15 42.75 12,824.57 43.40 21,699.27 101.41 40,562.64 63.12 31,561.44 17.12 11,987.50 25.47 5,094.82 38.87 23,324.22 23.18 11,589.61 23.05 11,527.11 18.00 8,999.69 26.75 26,749.10 19.50 9,749.67 22.83 6,849.77 80.25 32,098.92 83.37 33,348.88 63.62 31,811.43 64.55 32,276.42 52.87 21,149.29 65.15 45,603.47 • • • • Date Quantity Longer Investments, Incorporated PURCHASE AND SALE REPORT City of Fayetteville Police Pension Fund Stock Account From 01-01-91 To 09-30-91 Security Unit Price Amount 08-19-91 04-01-91 01-31-91 05-15-91 08-19-91 05-10-91 09-01-91 08-19-91 04-10-91 05-09-91 07-02-91 08-19-91 09-18-91 01-31-91 03-15-91 07-22-91 07-24-91 03-01-91 07-12-91 02-27-91 04-17-91 06-11-91 06-13-91 • • 500 1,000 600 300 300 700 400 400 400 700 500 400 900 250 500 500 500 400 300 600 8 7 50,000 Mylan Labs National Service Industries Pacificorp Reader's Digest Safety Kleen Schlumberger, LTD Southwestern Bell Toys -R -Us Tyson Foods Tyson Foods Tyson Foods United Telecommunication United Telecommunication Warner Lambert Warner Lambert Warner Lambert Warner Lambert Waste Management Waste Management Westinghouse Elec IBM April 110 Puts OEX June 350 Puts U. S. Treasury Note 7.125% Due 10-15-93 4 24.87 25.93 20.87 32.12 29.58 64.17 54.47 29.87 40.66 20.75 20.25 24.87 23.37 70.00 76.43 67.37 67.25 42.12 35.38 27.43 0.90 0.82 99.43 12,437.08 25,929.13 12,524.58 9,637.17 8,874.70 44,917.50 21,789.27 11,949.60 16,264.00 14,525.00 10,125.00 9,949.66 21,036.79 17,499.41 38,213.72 33,686.37 33,623.87 16,849.43 10,613.64 16,457.45 720.61 571.96 49,715.62 1,336,743.02 • • • Date Quantity Longer Investments, Incorporated PURCHASE AND SALE REPORT City of Fayetteville Police Pension Fund Bond Account From 01-01-91 To 09-30-91 Security Unit Price Amount PURCHASES. 06-05-91 03-10-91 09-03-91 07-10-91 SALES 06-05-91 08-21-91 08-27-91 • • 100,000 U. 8. 24,000 U. 7. 115,000 U. 6. 100,000 U. 0. S . Treasury Note 000% Due 05-15-01 S . Treasury Note 125% Due 10-15-93 S . Treasury Note (912827C26) 375% Due 08-31-93 S . Treasury Strip (912833DA5) 000% Due 08-15-11 • 100,000 G. E. Capital Corp. 8.000% Due 12-01-92 100,000 U. S. Treasury Strip (912833DA5) 0.000% Due 08-15-11 94,000 Mcllroy Bank & Trust (Matures 8-27-91) 7.805% Due 11-27-91 99.00 99.91 99.89 17.72 101.18 19.05 100.00 99,000.00 23,977.50 114,869.45 17,716.00 255,562.95 101,177.00 19,050.00 94,000.00 214,227.00 • • • 00 -4 O 0 0 .o v N N ag • O P L L -3 V-3 N N m v v x x x 3 r n- =3= x O m O 0 n n n w m co m a a D D m^ `( mo '< m m z03'< 0 r, 03 C o m m m m 3 -• m l r- m y -I 0 01 1 1 1 N N n `( 3 -. m �• O a O 0 x l -, N co 10 0 m 0 0 • c x 3 O rt 10 0 re m a^ • 0 0 rt N J V x -10-30-- 0 CO n„ r 0 m 3 J n m n m +. J. 3 ID m N s l o N m n m m m m i n m m x `< "1 m 0 -1 m V) o o N o o N< l l l rt 3 r () r Cl m `< m • 2 J 0.0 - 'la m 0 0 N 1.0 et y N m - 021-0-1 l 9 la N m 3 0 0 5 a m N N r01 N. 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Cr Cr N N N Sr 4 N N -h N N N N N M1 N a 11 L P O @ l• +O N •- W -- -- N •- r 6'i II- s • 11 - - � .• 4 Cr - N N W N N• ' M N 4 a' • N V N N • • N J N 4 C'# Al II W N W -- .# N C 4 N (w ^ (ll CO N N (.I1 N -O N. N -Q -O O 01 •+ -- -C -O N 0- 4, G w '1 O 0 L4 U' _ 0' 41 v 61 CO ¢0 0 N C C 0 CA G C1 0 W 0 m 0 C m CO 0 M •" -O N@ C a- a O P I Al O N 0 Cr- V. 0 m a 0 0 0 0 0 (JI O 0 0 P 0 0 0 10 0 0 G a Cn 0. N G 0 0 C 0 '_.J G O s r s _ n v O Ln N O 0 C• p C0 O C C 0 0 0 0 O O 0 "' 0 G 0 0 O C G 0 0 0 O 0 •St 14 # w. Cn II Cn O O (J1C` O O 0 0 0 0 C? O G C 0 0 0 0 0 0 0 0 0 0 0 0' 0 •0 0 Ci 0 0 G G 0 C 0 0 4:70 0 T 4 Zb'1tr0'014 11'918`4$ • • • • • • • • • • • • • • • • • 0 0 • • • • • • • Fayetteville Police Pension Fund Combined Account Report of Fees and Expenses January 1, 1991 - September 30, 1991 01-14-91 04-08-91 07-08-91 02-05-91 03-18-91 05-24-91 06-28-91 09-30-91 Management Fee Management Fee Management Fee Northern Northern Northern Northern Northern TOTAL Trust Trust Trust Trust Trust Fee Fee Fee Fee Fee $4,035.57 $4,429.58 $4,475.75 $12,940.90 $400.00 $601.72 $409.75 $409.75 $409.75 $2,230.97 $15,171.87