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MICROFOEMED
MINUTES 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, January 16, 1992, at 2:30 p.m. in
Room 326 of the City Administration Building, 113 West Mountain,
Fayetteville, Arkansas.
PRESENT: Eldon Roberts, Jerry Friend, Retiree Hollis
Spencer, City Manager Scott Linebaugh,
Administrative Services Director Ben Mayes, and
City Clerk Sherry Thomas.
ABSENT: Rick Hoyt and Dr. James Mashburn
CALL TO ORDER
The meeting was called to order by Ben Mayes.
MINUTES
Eldon Roberts addressed the Board regarding an error in the minutes
of October 17, 1991 under Investments, second paragraph, last
sentence, ". . . reported that $135,488 went to the general plan
" explained that Ben was saying that out of the
insurance turn -back money, this sum went to the old pension plan,
which is correct. He continued stating that the next paragraph,
first sentence, "Roberts pointed out that this sum alone pays the
pension for half of a year ." Roberts stated this sum lacks
about $8,000 to $9,000 of paying the pension for half of a year;
instead they are paying about $144,000 in six month periods.
Roberts, seconded by Spencer, made a motion to approve the minutes
from the October 17, 1991 meeting, with the above-mentioned
correction. The motion was approved by a unanimous vote.
OLD BUSINESS
ACTUARY REPORT
Ben Mayes reported that they will receive another full actuary
report around the first of May 1992. The actuary reports are only
received every other year and this report will cover 1991.
Mayes presented his report from inquiries at the last meeting
regarding the state's methods and standards for figuring actuary
soundness. He stated his analysis of the effects on their actuary
soundness by remaining with the current accounts and when he would
anticipate reaching actuary soundness. Mayes reported he did not
do a full actuary evaluation, but reviewed the previous
consultant's report regarding cash-flow basis which was considered
conservative. That report reflects projected ending assets at the
end of 1991 at $4,732,000; and the preliminary financial statement
shows $5,143,000 in assets on a cost basis; $410,000 over the
study's projections.
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Mayes further stated he will track the progress when the 1991
actuary report is received. He estimated that even under this cash
flow, they will still be shown actuarialy unsound until the year
2000. They are required to be actuarialy sound by 2003, and it is
projected that they should reach that point in 1996.
Mayes pointed out that this projection was made using an average
return of 6% on the investments. With the 12% return on
investments from 1991, actuary soundness should be reached quicker.
Mayes stated that from his review of the 1990 actuary report, as
previously discussed, a cost basis was used for assigning a value
to assets. He stated in his report he will show the market value
versus cost, but the consultants conservatively use a cost basis
because market values cannot be counted on.
In response to Spencer's inquiry about the absorption by the new
pension plan by the old system in Fort Smith, Roberts responded
that there are provisions in the new Municipal League Handbook
where it is a legal move if voted and agreed upon. In addition,
the City has to agree to pay the entire bill including any
shortcomings from plans that are not fully funded.
Spencer stated he is a member of the Retired Association of
Municipal Police, and certain members have been trying to establish
a lobby to get laws passed. He reported his response to these
members was that if their systems are not actuarialy sound, no
money will be available, no matter how many laws they get passed.
Roberts responded what is needed is time spent lobbying on ways to
raise more revenue for these plans.
Roberts reported that if the new plan takes over an old plan, there
are no benefit increases figured at all. If increases are given,
the City is required to stand good for them.
Spencer stated the system, as he knew it, was to the point that it
was going to have to be prorated. In the alternative, cuts would
have to be taken. It takes a vote of the people to raise the
millage to compensate the fire and police pensions.
Spencer stated that in discussions with Clint Hutchins of
Washington County, he reported that a Pine Bluff city policeman of
eleven years advised that he could tie his municipal time into his
county time, and that a law exists where the two can be tied
together and retirement prorated between the municipal and state
employees' retirement systems.
City Manager Linebaugh stated that it can be done the other way
around. The Bradleys came in with some county time and were able
to buy time into the City retirement fund. Linebaugh stated he
would think they would have to buy into the county system.
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INVESTMENTS
Elaine Longer addressed the Board with the portfolio appraisal of
the stock account. As of December 31, 1991, they were 90% invested
in stocks; holding approximately $100,000 worth of treasury bonds
purchased back in July. At year end, there was a 10% unrealized
gain in the treasury bonds. The largest stock positions are Abbott
Laboratories, Briggs & Stratton, Bristol Meyers, Emerson Electric,
Mobil, Phillip Morris, and Warner Lambert which are in excess of 4%
of the total portfolio. Phillip Morris was over 5% of portfolio;
however, but based on book value it is well under. The income
yield on stock accounts, based on book value, is 3% and based on
current market value is 2.4%.
The portfolio appraisal of the bond account reflects a year end
yield on market value of 71%. Due to bonds appreciating in price
as interest rates drop, the yield on book value is 8%. The total
picture reflects a 60% bond portfolio and 40% stock portfolio with
a 6% yield on book value. The combined total of stocks plus bonds
and cash have a total market value of $2.25 million. The year
closed at 66% stocks and 25% CD's and bonds and 3% cash and
equivalents.
Longer further explained that the fund has no exposure to declining
interest rates; and with extended maturities locking in rates with
the anticipated drop in interest rates, there is no reinvestment
risk. The fund possesses purchase power in a 6 3/8% yield treasury
which allows the investments to be locked in at higher rates for
ten-year maturities. For the performance report for the period
December 31 to December 31, the Standard & Poors 500 Index,
measured with reinvested dividends, was up 30.5%, and Dow Jones was
up 24.3%. Equities were up 39.4% for the year, and bonds up 16.6%.
The total account with bonds, stocks and cash was up 35%.
Longer explained their performance measures as a portfolio manager
with the use of a computerized portfolio manager system. The
performance analysis package is set up to exactly mimic the
stringent standards set up by the Association of Investment
Management & Research body with the concern of ethical reporting of
performance numbers. Their system measures performance by the
month independently of the preceding month, and then links the
performance for the entire year which is a more accurate measure
for performance.
Longer reported portfolio performance for the year for equities is
up 39.4%, and the S&P 500 is up 30.5%. From account inception on
July 26, 1990, equities are up 35.6% and Standard & Poors is up
about 23%. This reflects how long term performance points can be
obtained in a down market. The bond account at 15.36% includes all
cash held in this account. The treasury bonds and Phillip Morris
bonds alone were up 16%, and mixing in cash returns, the total
account was up 15.4%, and the Solomon Brothers Treasury Index was
up 15.3%. These figures show the bond portfolio versus the Index
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and reflect the small variation in the bond market of total
returns.
The real life gains and losses schedule reflected gains for the
year at $89,320.
The schedule for total income and expenses in purchases and sales
were then reviewed.
The quarterly portfolio appraisal reflected a return on equity of
21%; debt to total capital at 22%; and expected return of 15%.
Even though the portfolio has changed somewhat, these figures
remain about the same from the previous quarter. Longer explained
that the basic complexion of what they look for in a stock doesn't
change, whether its a technology, drug, food or electrical
equipment industry; therefore, the basic parameters on the
portfolio are very similar from quarter to quarter. Beta is 1.06%,
equal to market exposure for risk; Standard & Poors rating is 2.5%,
which places the portfolio between an A and A-. The price earnings
multiple was up to 23%; this was high because of the market
discounting an economic recovery this year and subsequent earnings
improvement. The market is moving ahead even though the economy
hasn't kicked into gear yet; the market is indicating that there is
an economic recovery on the horizon.
Report of fees and expenses shows management fees for the year to
Northern Trust Custodial and commissions on the account are at a
total of $32,563.60. The average invested capital by quarter was
at $1.77 million with commissions as a percent of total account
were at .65%, which is under 1%. The total expense ratio combining
commissions, custody, and management fees was 1.8%, which is under
2% to 21/4% which a wrap fee would cost.
Longer reported the outlook as a "subdued recovery" with weak
economic growth due to state and municipal debt issued in the
1980's and the government's inability to add program stimulus. In
addition, the consumer is over -indebted and more interested in
paying down credit cards than taking on new debt. She reported
that the "overhang" of debt from the 1940's through the late 1970's
as a percent of gross national product was 150%. Beginning in the
80's and going through 1990, the level of debt has been raised in
relation to economic growth to 240%. The huge government,
corporate and, consumer debt drags on the economy resulting in
stagnant growth. Interest rates have dropped by 5% in the last
year with no result. The federal government is determined to
deliver some sort of recovery before election date. The last time
the discount rate was dropped a full percentage point in one move
was in 1924.
With the combination of a subdued recovery, moderate inflation, and
political pressures that the federal government is under due to the
election year, the federal reserve should provide continued
accommodation until an economic recovery is imbedded which is
projected to take a couple more quarters. Profit margins will
continue under pressure; investments being made only in those
companies with consistent growth stocks that have been able to
deliver earnings, return on shareholder equity, and maintain a
clean balance sheet through the recession and sluggish environment.
Debt reduction will continue as a process for the entire economy
and continue into the 90's. In worldwide competition for capital,
the United States is not in a position to jeopardize the U.S.
dollar in the foreign currency markets because of $270 billion in
debt expected in 1992 and $360 billion in 1993 with a domestic
savings rate of only 31% to 4%. The U.S. as a country is not
saving enough to finance our spending habits; therefore, debt must
be sold, and in order to do that, the price people are willing to
pay depends on the currency. Even though there is a lot of talk
and packages being proposed in Washington, the federal government
is not currently in a position to embark on any tremendously
stimulating programs with expected growth at only 21/2% for 1992 and
possibly equalized at 4% by the fourth quarter.
Jerry Friend stated that some are saying Americans need to save
more while others are saying we need to spend more. Longer
responded that we need to save more. Our tax code in the early
80's was an incentive for investment savings through IRA's,
investment tax credits, accelerated depreciation, capital gains tax
treatment, etc. In 1986, the "apple cart was turned upside down",
disallowing passive losses on real estate and removing most
incentives. Consumption is not going to solve the problem; there
must be tax code incentive again for investment and savings.
Longer stated that Bush's state of the union address should include
accelerating first year depreciation, savings investments for
families such as tax-free savings accounts, savings incentives, and
preferential capital gain treatment. The U.S. is the only western
industrialized nation in the world that taxes capital gains as
ordinary income. As a shareholder, taxes have already been paid.
Longer stated that if Bush gets into a bidding war with the
democrats on middle class tax cuts, the market could react
negatively. With regard to President Bush's trip to Japan, Longer
stated that she doesn't believe he will impose protectionism as it
would only hurt the consumers who choose to buy Japanese cars that
have better value for the price. She doesn't believe the U.S. auto
industry deserves protection; they have not spent on R&D and their
chairmen of the board and chief executives are making $10 million
per year. Japan, as the third largest importer in the world,
imported $275 billion worth of goods in 1991; a trade war would be
"shooting ourselves in the foot".
City Manager Linebaugh asked if a stock is declining, at what point
is it decided to sell. Longer responded that it depends on the
stock. Normally speaking, the situation has been reappraised at a
15% decline. Under unusual circumstances, they would either sit
with the stock or buy more. Longer continued to report that the
majority of the stocks in this portfolio have a clean balance
sheet. The stocks that have been in trouble, such as Clare Stores,
are structured to ride out bad periods. With the recession,
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revenues dropping, and a big overstock of inventory, Clare Stores
own a lot of their stores and have very little debt. By reviewing
balance sheets, temporary situations are identified and the stock
will be maintained and reappraised at 15% under.
In response to Linebaugh's inquiry regarding IBM stock, Longer
stated that she is concerned with IBM's dividends, reporting that
this quarter will be the first loss of their history. IBM does not
presently have the cash flow to fund the dividend.
Friend asked how they avoid junk bonds. Longer responded that they
stay completely away from heavily leveraged stocks because when
those companies have a bad quarter, there are capital problems.
In response to Friend's question, Longer reported that the Pension
Fund it was underfunded at the time and on track to be fully
funded; it would take a year of 19% total return on the account to
get to an actuarialy sound point. With the current 34%, the 19%
total for actuary soundness could come in 1992.
Mayes stated that every year they add 5% more than you have to have
funded, creating a "moving target", and cost instead of market
value is considered by the state in figuring actuary soundness.
BRADLEY RETIREMENT
• Roberts reported that Randy Bradley will be retiring on the 24th of
January, 1992, and discussion will be taking place regarding
salaries. Roberts stated his retirement can be voted on at the
next meeting.
City Manager Linebaugh stated that he doesn't believe the rules
require that they vote; it is automatic if the correct forms are
filed.
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ADJOURNMENT
The meeting adjourned at 3:44 p.m.
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MICROFILMED v�
MICROFILMED (-16 4a
eNGER
S
CORPORAIFD
City of Fayetteville
Police Pension Board Meeting
January 16, 1992
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Quantity
COMMON STOCK
1,000
1,200
400
500
1,500
630
500
1,300
1,000
1,600
800
800
1,750
1,000
1,500
900
600
800
1,000
1,500
2,000
1,000
1,400
450
1,000
2,000
625
1,000
1,000
1,000
1,200
500
1,000
1,000
1,300
2,500
Security
Abbott Labs
American Barrick
Resources
American Home
Products
Amoco
Arbor Drug
Archer Daniels
Midland
Armstrong World Ind
Baxter Intl.
Bob Evans Farms
Briggs 8 Stratton
Bristol Myers Squibb
Cintas
Claire's Stores
Community
Psychiatric Center
Crane Co.
Dean Foods
Diebold, Inc.
Dreyer's Grand Ice
Cream
Durr Fillauer
Emerson Electric
Glaxo Holding
Harnischfeger
Industries
Hasbro, Inc.
Hershey Foods
Input/Output, Inc.
Luby's Cafeterias
Mattel Inc.
McDonald's Corp
Mobil Corp.
Pacificorp
Philip Morris
Reader's Digest
SafeCard Services
TRC Cos
Toys -R -Us
Tyson Foods
Longer Investments, Incorporated
PORTFOLIO APPRAISAL
City of Fayetteville Police Pension Fund
Stock Account
December 31, 1991
Unit
Cost
Total Market
Cost Price
Market Pct. Unit Annual Cur.
Value Assets Income Income Yield
41.95 41,948.68 68.87 68,875.00 4.2 1.000 1,000.00 1.5
24.33 29,196.00 27.87 33,450.00 2.0 0.100 120.00 0.4
73.37 29,350.00 84.62 33,850.00 2.1 2.600 1,040.00 3.1
52.25 26,125.00 49.12 24,562.50 1.5 2.200 1,100.00 4.5
19.58 29,375.00 23.25 34,875.00 2.1 0.140 210.00 0.6
22.18 13,973.79 33.25 20,947.50 1.3 0.100 63.00 0.3
32.12 16,062.50 29.25 14,625.00 0.9 1.200 600.00 4.1
34.73 45,146.00 40.00 52,000.00 3.2 0.740 962.00 1.8
18.12 18,125.00 26.00 26,000.00 1.6 0.280 280.00 1.1
34.20 54,715.50 44.12 70,600.00 4.3 1.600 2,560 00 3.6
60.08 48,067 64 88.25 70,600.00 4.3 2.760 2,208.00 3.1
44.20 35,361.32 50.00 40,000.00 2.4 0.190 152.00 0.4
8.38 14,668.75 8.37 14,656.25 0.9 0.100 175.00 1.2
11.95 11,955.00 14.12 14,125.00 0.9 0.360 360.00 2.5
26.24 39,355.00 23.62 35,437.50 2.2 0.750 1,125.00 3.2
30.08 27,075.00 30.50 27,450.00 1.7 0.560 504.00 1.8
39.30 23,577.31 48.25 28,950.00 1.8 1.600 960.00 3.3
25.87 20,700.00 34.75 27,800.00 1.7 0.200 160 00 0.6
22.34 22,344 00 20.25 20,250.00 1.2 0.280 280.00 1.4
41.05 61,582.50 55.00 82,500.00 5.0 1.380 2,070.00 2.5
17.84 35,687 50 31.75 63,500.00 3.9 0.450 900.00 1.4
21.21 21,213.33 21.37 21,375.00 1.3 0.400 400.00 1.9
30.75 43,048.00 40.50 56,700.00 3.4 0.240 336.00 0.6
41.83 18,823.50 44.37 19,968.75 1.2 0.980 441.00 2.2
13.07 13,070.00 11.12 11,125.00 0.7 0.000 0.00 0.0
15.39 30,776.67 14.37 28,750.00 1.7 0.500 1,000.00 3.5
19.16 11,972.50 33.12 20,703.12 1.3 0.160 100.00 0.5
32.38 32,385.00 38.00 38,000.00 2.3 0.370 370.00 1.0
65.19 65,188.33 67.87 67,875.00 4.1 3.200 3,200.00 4.7
19.57 19,570.00 25.12 25,125.00 1.5 1.500 1,500.00 6.0
44.96 53,948.13 79.00 94,800.00 5.8 2.100 2,520.00 2.7
28.87 14,435.00 48.37 24,187.50 1.5 0.800 400.00 1.7
9.57 9,570.00 9.75 9,750.00 0.6 0.150 150.00 1.5
11.08 11,085.00 15.25 15,250.00 0.9 0.000 0.00 0.0
28.25 36,724.00 32.75 42,575.00 2.6 0.000 0.00 0.0
17.44 43,588.75 20.12 50,312.50 3.1 0.040 100.00 0.2
1
Quantity Security
1,000 Walmart Stores
1,000 Warner Lambert
400 Waste Management
GOVERNMENT BONDS
100,000 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
December 31, 1991
Unit
Cost
Total Market
Cost Price
40.33 40,326.67
73.60 73,600.00
33.85 13,540.91
1,197,257.28
Market Pct. Unit
Value Assets Income
58.87 58,875.00
77.62 77,625.00
42.25 16,900.00
3.6 0.170
4.7 1.760
1.0 0.440
1,484,950.62 90.2
Annual Cur.
Income Yield
170.00
1,760.00
176.00
0.3
2.3
1.0
29,452.00 2.0
98.27 98,265.63 108.56 108,562.50 6.6 8.000 8,000.00 7.4
98,265.63
51,715.98
51,715.98
1,347,238.89
2
1,022.22 0.1
109,584.72 6.7
8,000.00 7.4
51,715.98 3.1 4.800 2,482.37 4.8
51,715.98 3.1
1,646,251.33 100 0
2,482.37 4.8
39,934.37 2.4
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Quantity
Security
CORPORATE BONDS
Longer Investments, Incorporated
PORTFOLIO APPRAISAL
City of Fayetteville Police Pension Fund
Bond Account
December 31, 1991
Unit Total
Cost Cost
Market Market Pct. Unit Annual Cur.
Price Value Assets Income Income Yield
100,000 Philip Morris 100.54 100,543.50 110.75 110,750.00 18.4 9.250 9,250.00 8.4
9.250% Due 12-01-97
Accrued Interest 770.83 0.1
GOVERNMENT BONDS
115,000
24,000
100,000
100,000
U. S. Treasury Note
(912827026)
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
100,543.50 111,520.83 18.5
9,250.00 8.4
99.89 114,869.45 102.81 118,234.37 19.6 6.375 7,331.25 6.2
99.80 23,952.16 104.16 24,997.50 4.1 7.125 1,710.00 6.8
100.00 100,000.00 109.00 109,000.00 18.1 9.150 9,150.00 8.4
99.00 99,000.00 108.56 108,562.50 18.0 8.000 8,000.00 7.4
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
7,461.56 1.2
337,821.61 368,255.93 61.1
26,191.25 7.3
14,961.97 14,961.97 2.5 4.800 718.17 4.8
14,961.97 14,961.97 2.5
718.17 4.8
100.00 100,000.00 108.44 108,440.00 18.0 8.300 8,300.00 7.7
100,000.00 108,440.00 18.0
553,327.08
8,300.00 7.7
603,178.73 100.0 44,459.42 7.5
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Quantity
COMMON STOCK
Security
1,000 Abbott Labs
1,200 American Barrick
Resources
400 American Home
Products
500 Amoco
1,500 Arbor Drug
630 Archer Daniels
Midland
500 Armstrong World Ind
1,300 Baxter Intl.
1,000 Bob Evans Farms
1,600 Briggs 8 Stratton
800 Bristol Myers Squibb
800 Cintas
1,750 Claire's Stores
1,000 Community
Psychiatric Center
1,500 Crane Co.
900 Dean Foods
600 Diebold, Inc.
800 Dreyer's Grand Ice
Cream
1,000 Durr Fillauer
1,500 Emerson Electric
2,000 Glaxo Holding
1,000 Harnischfeger
Industries
1,400 Hasbro, Inc.
450 Hershey Foods
1,000 Input/Output, Inc.
2,000 Luby's Cafeterias
625 Mattel Inc.
1,000 McDonald's Corp
1,000 Mobil Corp.
1,000 Pacificorp
1,200 Philip Morris
500 Reader's Digest
1,000 SafeCard Services
1,000 TRC Cos
1,300 Toys -R -Us
2,500 Tyson Foods
Longer Investments, Incorporated
PORTFOLIO APPRAISAL
City of Fayetteville Police Pension Fund
Combined Account
December 31, 1991
Unit Total
Cost Cost
41.95 41,948.68
24.33 29,196.00
73.37 29,350.00
52.25 26,125.00
19.58 29,375.00
22.18 13,973.79
Market Market Pct. Unit Annual Cur.
Price Value Assets Income Income Yield
68.87 68,875.00 3.1 1.000
27.87 33,450.00 1.5 0.100
84.62 33,850.00 1.5 2.600
49.12 24,562.50 1.1 2.200
23.25 34,875.00 1.6 0.140
33.25 20,947.50 0.9 0.100
32.12 16,062.50 29.25
34.73 45,146.00 40.00
18.12 18,125.00 26.00
34.20 54,715.50 44.12
60.08 48,067.64 88.25
44.20 35,361.32 50.00
8.38 14,668.75 8.37
11.95 11,955.00 14.12
26.24 39,355.00
30.08 27,075.00
39.30 23,577.31
25.87 20,700.00
22.34 22,344.00
41.05 61,582.50
17.84 35,687.50
21.21 21,213.33
14,625.00
52,000.00
26,000.00
70,600.00
70,600.00
40,000.00
14,656.25
14,125.00
23.62 35,437.50
30.50 27,450.00
48.25 28,950.00
34.75 27,800.00
20.25 20,250.00
55.00 82,500.00
31.75 63,500.00
21.37 21,375.00
30.75 43,048.00 40.50
41.83 18,823.50 44.37
13.07 13,070.00 11.12
15.39 30,776.67 14.37
19.16 11,972.50 33.12
32.38 32,385.00 38.00
65.19 65,188.33 67.87
19.57 19,570.00 25.12
44.96 53,948.13 79.00
28.87 14,435.00 48.37
9.57 9,570.00 9.75
11.08 11,085.00 15.25
28.25 36,724.00 32.75
17.44 43,588.75 20.12
1
56,700.00
19,968.75
11,125.00
28,750.00
20,703.12
38,000.00
67,875.00
25,125.00
94,800.00
24,187.50
9,750.00
15,250.00
42,575.00
50,312.50
0.7 1.200
2.3 0.740
1.2 0.280
3.1 1.600
3.1 2.760
1.8 0.190
0.7 0.100
0.6 0.360
1.6 0.750
1.2 0.560
1.3 1.600
1.2 0.200
0.9 0.280
3.7 1.380
2.8 0.450
1.0 0.400
2.5 0.240
0.9 0.980
0.5 0.000
1.3 0.500
0.9 0.160
1.7 0.370
3.0 3.200
1.1 1.500
4.2 2.100
1.1 0.800
0.4 0.150
0.7 0.000
1.9 0.000
2.2 0.040
1,000.00 1.5
120.00 0.4
1,040.00 3.1
1,100.00 4.5
210.00 0.6
63.00 0.3
600.00
962.00
280.00
2,560.00
2,208.00
152.00
175.00
360.00
1,125.00
504.00
960.00
160 00
280.00
2,070.00
900.00
400.00
336.00
441.00
0.00
1,000.00
100.00
370.00
3,200.00
1,500.00
2,520.00
400.00
150.00
0.00
0.00
100.00
4.1
1.8
1.1
3.6
3.1
0.4
1.2
2.5
3.2
1.8
3.3
0.6
1.4
2.5
1.4
1.9
0.6
2.2
0.0
3.5
0.5
1.0
4.7
6.0
2.7
1.7
1.5
0.0
0.0
0.2
Quantity
Security
1,000 Walmart Stores
1,000 Warner Lambert
400 Waste Management
CORPORATE BONDS
Longer Investments, Incorporated
PORTFOLIO APPRAISAL
City of Fayetteville Police Pension Fund
Combined Account
December 31, 1991
Unit
Cost
Total Market
Cost Price
40.33 40,326.67
73.60 73,600.00
33.85 13,540.91
1,197,257.28
Market Pct. Unit
Value Assets Income
58.87 58,875.00 2.6 0.170
77.62 77,625.00 3.5 1.760
42.25 16,900.00 0.8 0.440
1,484,950.62 66.0
Annual Cur.
Incase Yield
170.00
1,760.00
176.00
0.3
2.3
1.0
29,452.00 2.0
100,000 Philip Morris 100.54 100,543.50 110.75 110,750.00 4.9 9.250 9,250.00 8.4
9.250% Due 12-01-97
Accrued Interest 770.83 0.0
GOVERNMENT BONDS
115,000
24,000
100,000
200,000
U. S. Treasury Note
(912827C26)
6.375% Due 08-31-93
U. 5. Treasury Note
7.125% Due 10-15-93
Federal Home Loan
Mortgage Corp.
9.150% Due 08-08-00
U. 5. Treasury Note
8.000% Due 05-15-01
Accrued Interest
CASH AND EQUIVALENTS
Money Market
100,543.50
111,520.83 5.0
9,250.00 8.4
99.89 114,869.45 102.81 118,234.37 5.3 6.375 7,331.25 6.2
99.80 23,952.16 104.16 24,997.50 1.1 7.125 1,710.00 6.8
100.00 100,000.00 109.00 109,000.00 4.8 9.150 9,150.00 8.4
98.63 197,265.63 108.56 217,125.00 9.7 8.000 16,000.00 7.4
CERTIFICATE OF DEPOSIT (MONTHLY PYMT.)
100,000 First USA Bank
Wilmington, DE 8.3%
1-2-96
8.300X Due 01-02-96
436,087.24
66,677.95
66,677.95
100.00 100,000.00
100,000.00
2
8,483.78 0.4
477,840.65 21.2
34,191.25 7.3
66,677.95 3.0 4.800 3,200.54 4.8
66,677.95 3.0
108.44 108,440.00
3,200.54 4.8
4.8 8.300 8,300.00 7.7
108,440.00 4.8
8,300.00 7.7
•
•
•
•
Longer Investments, Incorporated
PORTFOLIO APPRAISAL
City of Fayetteville Police Pension Fund
Combined Account
December 31, 1991
Unit Total Market Market Pct. Unit Annual Cur.
uantity Security Cost Cost Price Value Assets Income Income Yield
TOTAL PORTFOLIO
1,900,565.97
3
2,249,430.06 100.0 84,393.79 3.8
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•
•
•
Date Quantity
Longer Investments, Incorporated
REALIZED CAPITAL GAINS AND LOSSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
Security
Cost
Basis Proceeds
Gain Or Loss
01-03-91 500 Laidlaw Inc. Class B
01-04-91 1,000 Chemical Waste
Management
1,000 Eastman Kodak
1,500 Claire's Stores
1,000 Hershey Foods
700 Ingersoll-Rand
700 J.B. Hunt
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
03-01-91
03-01-91
03-01-91
03-01-91
03-06-91
03-15-91
03-20-91
03-21-91
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
11,222.50 8,999.69
18,945.00 21,304.28
42,865.00
14,355.00
35,570.00
25,445.00
10,587 50
400 Minnesota Mining 8 Mfg. 29,986.44
200 Jacobs Engineering 4,120.00
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 H. Harland
400 Morrison Knudsen
700 Schlumberger, LTD
1
37,753.82
10,980.00
11,742.00
16,033.75
18,300.00
13,070.00
23,470.18
17,967.00
17,760.00
40,023.66
14,332.01
35,998.79
25,199.15
11,987.50
32,098.92
5,094.82
39,711.17
12,824.57
12,524.58
17,499.41
21,699.27
14,249.52
31,513.94
16,457.45
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
11,065.00
1,144.90
11,005.00
15,472.50
21,435.00
9,749.67
16,264.00
720.61
11,999.59
13,022.06
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
qi
•
•
•
Date
Quantity
Longer Investments, Incorporated
REALIZED CAPITAL GAINS AND LOSSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
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
10-02-91
10-21-91
10-21-91
10-22-91
10-22-91
10-24-91
10-24-91
10-31-91
10-31-91
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
50,000
700
1,000
400
500
300
1,000
300
100
Crown Craft
John H. Harland
Int'l 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
7.125% 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 8 Mfg.
Mylan Labs
Safety Kleen
Toys -R -Us
United Telecommunication
U. S. Treasury Strip
(912833DA5)
0.000% Due 08-15-11
Mcllroy Bank 8 Trust
(Matures 8-27-91)
7.805% Due 11-27-91
Southwestern Bell
Fluor Corp.
Limited
United Telecommunication
U. S. Treasury Note
7.125% Due 10-15-93
L.P.I. Corp.
Mylan Labs
Diebold, Inc.
McDonald's Corp
Diebold, Inc.
TRC Cos
Intl Business Machines
Intl Business Machines
2
10,747.
11,035.
46,708.
31,477.
8,661.
99,860.
3,386.
49,875.
00 11,624.60
00 11,527.11
28 40,562.64
50 31,561.44
00 9,637.17
00 101,177.00
60 571.96
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
27,381.87
28,600.00
24,428.08
49,875.00
21,843.50
17,546.67
15,718.21
16,192.50
11,788.65
11,085.00
35,031.21
11,677.07
21,789.27
31,236.45
26,749.10
21,036.79
50,968.75
18,053.14
36,900.76
20,664.31
17,699.40
15,773.47
13,429.55
29,549.01
9,849.67
877.60
492.11
-6,145.64
83.94
976.17
1,317.00
- 2,814.64
- 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
1,093.75
-3,790.36
19,354.09
4,946.10
1,506.90
3,984.82
2,344.55
-5,482.20
- 1,827.40
•
•
•
Date
Quantity
Longer Investments, Incorporated
REALIZED CAPITAL GAINS AND LOSSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
Security
Cost
Basis Proceeds
Gain Or Loss
11-01-91
11-06-91
11-07-91
11-19-91
11-20-91
11-20-91
11-21-91
12-06-91
12-19-91
TOTAL GAINS
TOTAL LOSSES
10
2,000
10
2,000
500
1,500
1,400
550
950
OEX Nov. 370 Puts
Homestake Mining
OEX Nov. 370 Puts
Kesler Corp.
Luby's Cafeterias
SafeCard Services
Syntex Corp.
Hershey Foods
Safety Kleen
3
5,957.00
30,610.00
8,247.22
20,890.00
8,953.33
13,762.50
55,725.50
23,006.50
29,927.50
5,420.81
29,998.99
4,032.20
16,999.42
8,459.71
14,062.02
55,858.13
20,899.30
22,423.60
-536.19
-611.01
-4,215.02
-3,890.58
-493.62
299.52
132.63
- 2,107.20
- 7,503.90
152,852.40
-63,531.84
1,852,691.70 1,942,012.26 89,320.56
1 Date
Longer Investments, Incorporated
INTEREST, DIVIDENDS, AND EXPENSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
Security Amount
COMMON STOCK
01-02-91
01-03-91
01-03-91
01-03-91
01-10-91
01-11-91
01-15-91
01-16-91
02-01-91
02-15-91
02-15-91
02-25-91
03-01-91
03-04-91
03-08-91
03-11-91
03-11-91
03-11-91
03-12-91
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
06-03-91
06-03-91
06-03-91
06-07-91
06-10-91
06-10-91
06-10-91
Walmart Stores
Chemical Waste Management
Reebok Int'1.
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'1 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
274.24
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
10-01-91
10-01-91
10-01-91
10-02-91
10-03-91
10-04-91
10-09-91
10-10-91
10-15-91
Longer Investments, Incorporated
INTEREST, DIVIDENDS, AND EXPENSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
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
Arbor Drug
Baxter Int'l.
Briggs & Stratton
Mattel Inc.
Waste Management
Walmart Stores
Harnischfeger Industries
Philip Morris
Mylan Labs
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
35.00
185.00
360.00
25.00
44.00
21.25
100.00
630.00
50.00
•
•
•
•
•
Date
11-01-91
11-01-91
11-13-91
11-15-91
11-15-91
11-15-91
11-20-91
12-02-91
12-02-91
12-02-91
12-02-91
12-03-91
12-09-91
12-09-91
12-10-91
12-10-91
12-10-91
12-13-91
12-13-91
12-16-91
12-17-91
12-18-91
12-26-91
12-31-91
Longer Investments, Incorporated
INTEREST, DIVIDENDS, AND EXPENSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
Security Amount
Bristol Myers Squibb
Reader's Digest
Homestake Mining
Abbott Labs
Hasbro, Inc.
Pacificorp
Claire's Stores
Armstrong World Ind
Archer Daniels Midland
American Home Products
Bob Evans Farms
Glaxo Holding
Durr Fillauer
Syntex Corp.
Amoco
Emerson Electric
Mobil Corp.
Crane Co.
Hershey Foods
Tyson Foods
American Barrick Resources
McDonald's Corp
Safety Kleen
Diebold, Inc.
CORPORATE BONDS
06-01-91
06-01-91
06-05-91
12-01-91
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
Philip Morris
9.250% Due 12-01-97
3
480.00
100.00
100.00
250.00
60.00
375.00
43.75
150.00
15.75
260.00
70.00
931.76
70.00
322.00
275.00
517.50
800.00
281.25
245.00
20.00
52.39
92.50
76.00
240.00
25,331.89
4,000.00
4,625.00
111.11
4,625.00
13,361.11
•
Date
Longer Investments, Incorporated
INTEREST, DIVIDENDS, AND EXPENSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
Security Amount
GOVERNMENT BONDS
02-08-91
03-01-91
03-10-91
04-15-91
04-15-91
06-05-91
06-05-91
06-13-91
06-13-91
08-08-91
10-02-91
10-15-91
11-15-91
11-15-91
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
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
4
4,575.00
-2,818.68
-695.27
3,562.50
855.00
-239.13
-608.70
-391.30
642.42
4,575.00
1,722.85
855.00
4,000.00
4,000.00
20,034.69
•
Date
Longer Investments, Incorporated
INTEREST, DIVIDENDS, AND EXPENSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
Security Amount
CASH AND EQUIVALENTS
02-01-91
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
10-01-91
10-01-91
11-01-91
11-01-91
12-02-91
12-02-91
12-31-91
12-31-91
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Money
Market
Market
Market
Market
Market
Market
Market
Market
Market
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
595.46
177.86
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
865.75
45.57
82.12
182.79
241.08
205.36
730.74
63.54
6,025.01
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 12-31-91
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
10-01-91 First USA Bank Wilmington, DE
8.3% 1-2-96
8.300% Due 01-02-96
11-06-91 First USA Bank Wilmington, DE
8.3% 1-2-96
8.300% Due 01-02-96
12-09-91 First USA Bank Wilmington, DE
8.3% 1-2-96
8.300% Due 01-02-96
12-31-91 First USA Bank Wilmington, DE
8.3% 1-2-96
8.300% Due 01-02-96
6
714.72
645.56
645.56
115.27
714.72
645.56
691.67
714.72
691.67
714.72
691.67
714.72
7,700.56
•
•
•
•
Date
Longer Investments, Incorporated
INTEREST, DIVIDENDS, AND EXPENSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
Security Amount
EXPENSE ACCOUNTS
02-01-91
02-01-91
03-01-91
03-01-91
04-01-91
04-01-91
04-15-91
05-01-91
05-01-91
06-03-91
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
10-01-91
10-01-91
11-01-91
11-01-91
12-02-91
12-02-91
12-03-91
12-17-91
12-31-91
12-31-91
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Bond Premium Expense
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Foreign Tax on Dividends
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Miscellaneous Expense
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Automated Cash Mgmt.
Foreign Tax on Dividends
Foreign Tax on Dividends
Automated Cash Mgmt.
Automated Cash Mgmt.
7
20.51
6.12
3.03
5.16
6.15
1.94
25.34
0.16
1.81
8.29
11.92
41.14
15.30
5.38
0.53
3.91
29.10
26.86
3.70
38.79
2.04
3.45
7.69
11.68
9.95
139.76
7.86
37.96
3.30
478.83
•
•
•
Date
Longer Investments, Incorporated
INTEREST, DIVIDENDS, AND EXPENSES
City of Fayetteville Police Pension Fund
Combined Account
From 01-01-91 Through 12-31-91
Security Amount
AFTER FEE PERFORMANCE EXPENSE ACCOUNTS
01-14-91
01-14-91
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
10-09-91
10-09-91
12-31-91
12-31-91
Management Fee
Management Fee •
Northern Trust Fee
Northern Trust Fee
Northern Trust Fee
Northern Trust Fee
Management Fee
Management Fee
Northern Trust Fee
Northern Trust Fee
Northern Trust Fee
Northern Trust Fee
Management Fee
Management Fee
Northern Trust Fee
Northern Trust Fee
Management Fee
Management Fee
Northern Trust Fee
Northern Trust Fee
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
3,867.00
1,579.48
299.12
110.63
21,028.10
NET INCOME 56,541.24
8
•
•
•
•
Date
Quantity
Longer Investments, Incorporated
PURCHASE AND SALE REPORT
City of Fayetteville Police Pension Fund
Stock Account
From 01-01-91 To 12-31-91
Security
Unit
Price
Amount
PURCHASES
01-07-91
11-06-91
10-25-91
10-02-91
08-07-91
10-01-91
09-12-91
07-24-91
12-26-91
04-01-91
09-13-91
06-05-91
09-17-91
10-03-91
01-04-91
01-04-91
08-27-91
10-07-91
12-24-91
09-16-91
O 9-91
O 9-91
03-22-91
12-13-91
O 1-30-91
09-01-91
09-20-91
04-24-91
03-25-91
01-22-91
01-31-91
02-07-91
08-22-91
05-23-91
10-04-91
10-25-91
05-01-91
01-18-91
01-22-91
O 1-30-91
04-22-91
07-24-91
•
1,000 Abbott Labs
1,200 American Barrick Resources
400 American Home Products
500 Amoco
1,000 Arbor Drug
500 Arbor Drug
500 Armstrong World Ind
1,000 Baxter Int'1.
300 Baxter Int'1.
1,000 Bergen Brunswig
1,000 Bob Evans Farms
900 Briggs & Stratton
300 Briggs & Stratton
400 Briggs & Stratton
200 Bristol Myers Squibb
300 Bristol Myers Squibb
700 C.P.I. Corp.
500 Cintas
300 Cintas
1,000 Claire's Stores
750 Claire's Stores
600 Community Psychiatric Center
600 Community Psychiatric Center
1,000 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
800 Dreyer's Grand Ice Cream
1,000 Durr Fillauer
300 Emerson Electric
300 Fluor Corp.
300 Fluor Corp.
700 Glaxo Holding
300 Glaxo Holding
1,000 Harnischfeger Industries
1
40.35 40,350.00
24.33 29,196.00
73.37 29,350.00
52.25 26,125.00
19.87 19,875.00
19.00 9,500.00
32.12 16,062.50
33.35 33,350.00
39.32 11,796.00
30.94 30,945.00
18.12 18,125.00
31.37 28,237.50
37.17 11,150.00
38.32 15,328.00
62.40 12,480.00
62.87 18,861.00
31.20 21,843.50
43.57 21,785.00
45.25 13,576.32
8.87 8,875.00
7.72 5,793.75
29.60 17,760.00
35.72 21,435.00
11.95 11,955.00
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
25.87 20,700.00
22.34 22,344.00
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
•
•
Date
Quantity
Longer Investments, Incorporated
PURCHASE AND SALE REPORT
City of Fayetteville Police Pension Fund
Stock Account
From 01-01-91 To 12-31-91
Security
Unit
Price
Amount
07-30-91
09-19-91
12-24-91
08-09-91
08-26-91
01-17-91
11-13-91
01-23-91
02-07-91
05-01-91
01-07-91
03-06-91
08-23-91
09-01-91
09-27-91
12-26-91
03-06-91
08-01-91
08-02-91
09-23-91
05-01-91
03-27-91
03-05-91
o 8-91
0 0-91
10-16-91
12-27-91
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
10-22-91
01-04-91
09-25-91
12-09-91
07-25-91
08-01-91
12-09-91
05-24-91
•
500 Harnischfeger Industries
1,000 Hasbro, Inc.
400 Hasbro, Inc.
1,000 Hershey Foods
2,000 Homestake Mining
800 Ingersoll-Rand
1,000 Input/Output, Inc.
200 Intl Business Machines
200 Int'l Business Machines
500 International Paper Co.
800 Jacobs Engineering
1,000 John H. Harland
2,000 Kasler Corp.
1,000 Limited
500 Luby's Cafeterias
1,000 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
1,500 SafeCard Services
1,000 SafeCard Services
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 Toys -R -Us
500 Tyson Foods
1,000 Tyson Foods
500 Tyson Foods
800 United Telecommunication
500 United Telecommunication
500 Walmart Stores
600 Warner Lambert
2
22.00
27.82
38.07
41.83
15.30
36.60
13.07
120.02
130.90
62.95
20.60
22.07
10.44
28.60
17.45
12.87
23.94
32.48
32.19
68.20
50.62
58.62
25.93
53.00
28.87
9.17
9.57
31.64
34.00
30.24
53.80
52.75
39.07
42.49
10.85
11.32
26.00
29.57
29.94
20.07
19.37
27.00
27.37
51.62
72.62
11,000.00
27,820.00
15,228.00
41,830.00
30,610.00
29,280.00
13,070.00
24,005.00
26,180.00
31,477.50
16,480.00
22,070.00
20,890.00
28,600.00
8,727.50
12,870.00
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
13,762.50
9,570.00
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
14,785.00
14,972.50
20,070.00
9,687.50
21,600.00
13,685.00
25,812.50
43,575.00
•
•
Date
Quantity
Longer Investments, Incorporated
PURCHASE AND SALE REPORT
City of Fayetteville Police Pension Fund
Stock Account
From 01-01-91 To 12-31-91
Security
Unit
Price
Amount
06-03-91
12-26-91
01-03-91
04-10-91
05-17-91
10-30-91
11-06-91
06-05-91
06-13-91
03-01-91
SALES
01-28-91
03-20-91
04-23-91
08-06-91
05-10-91
1_'1-91
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
10-22-91
10-24-91
07-24-91
01-07-91
02-27-91
03-01-91
09-03-91
02-07-91
08-19-91
01-14-91
12-06-91
11-06-91
•
400
1,000
300
8
7
10
10
50,000
50,000
100,000
Warner Lambert
Warner Lambert
Waste Management
IBM April 110 Puts
OEX June 350 Puts
OEX Nov. 370 Puts
OEX Nov. 370 Puts
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
900 Abbott Labs
2,000 Baroid Corp.
500 Bergen Brunswig
500 Bergen Brunswig
300 Bristol Myers Squibb
700 C.P.I. Corp.
1,000 Chemical Waste Management
1,500 Claire's Stores
600 Community Psychiatric Center
600 Community Psychiatric Center
300 Crane Co.
700 Crane Co.
1,000 Crown Craft
300 Diebold, Inc.
400 Diebold, Inc.
400 Diebold, Inc.
300 Diebold, Inc.
800 Dreyer's Grand Ice Cream
1,000 Eastman Kodak
600 Fluor Corp.
300 Fluor Corp.
700 Fluor Corp.
1,000 Greiner Engineering
500 Harnischfeger Industries
1,000 Hershey Foods
550 Hershey Foods
2,000 Homestake Mining
3
69.34
73.60
35.12
1.43
4.84
5.96
8.25
98.87
97.66
99.75
44.12
7.93
26.04
27.55
79.75
25.79
21.30
9.55
35.15
35.02
24.37
26.67
11.62
40.00
43.50
51.66
52.58
31.12
40.02
52.52
53.00
44.62
14.25
19.93
36.00
38.00
15.00
27,736.00
73,600.00
10,537.50
1,144.90
3,386.60
5,957.00
8,247.22
49,437.50
48,828.13
99,750.00
2,082,290.02
39,711.17
15,859.46
13,022.06
13,777.03
23,924.20
18,053.14
21,304.28
14,332.01
21,089.29
21,014.29
7,312.25
18,668.37
11,624.60
11,999.59
17,399.41
20,664.31
15,773.47
24,900.00
40,023.66
31,513.94
15,899.46
31,236.45
14,249.52
9,964.66
35,998.79
20,899.30
29,998.99
•
•
•
Date
Quantity
Longer Investments, Incorporated
PURCHASE AND SALE REPORT
City of Fayetteville Police Pension Fund
Stock Account
From 01-01-91 To 12-31-91
Security
Unit
Price
Amount
01-14-91
01-29-91
02-05-91
05-15-91
10-31-91
10-31-91
05-15-91
01-14-91
01-22-91
03-01-91
05-10-91
05-14-91
11-19-91
01-03-91
09-18-91
04-08-91
11-20-91
08-19-91
10-22-91
01-14-91
08-19-91
03-06-91
03-27-91
0�0-91
0 9-91
08-19-91
10-21-91
04-01-91
01-31-91
05-15-91
11-20-91
08-19-91
12-19-91
05-10-91
09-01-91
11-21-91
10-24-91
08-19-91
04-10-91
05-09-91
07-02-91
08-19-91
09-18-91
01-31-91
03-15-91
700 Ingersoll-Rand
300 Ingersoll-Rand
500 Ingersoll-Rand
400 Int'1 Business Machines
300 Intl Business Machines
100 Int'1 Business Machines
500 International Paper Co.
700 J.B. Hunt
200 Jacobs Engineering
600 Jacobs Engineering
500 John H. Harland
500 John H. Harland
2,000 Kasler Corp.
500 Laidlaw Inc. Class B
1,000 Limited
500 Luby's Cafeterias
500 Luby's Cafeterias
300 Mattel Inc.
500 McDonald's Corp
400 Minnesota Mining & Mfg.
400 Minnesota Mining & Mfg.
500 Mobil Corp.
500 Mobil Corp.
400 Morrison Knudsen
700 Motorola, Inc.
500 Mylan Labs
1,000 Mylan Labs
1,000 National Service Industries
600 Pacificorp
300 Reader's Digest
1,500 SafeCard Services
300 Safety Kleen
950 Safety Kleen
700 Schlumberger, LTD
400 Southwestern Bell
1,400 Syntex Corp.
1,000 TRC Cos
400 Toys -R -Us
400 Tyson Foods
700 Tyson Foods
500 Tyson Foods
400 United Telecommunication
900 United Telecommunication
250 Warner Lambert
500 Warner Lambert
4
36.00
42.75
43.40
101.41
98.50
98.50
63.12
17.12
25.47
38.87
23.18
23.05
8.50
18.00
26.75
19.50
16.92
22.83
35.40
80.25
83.37
63.62
64.55
52.87
65.15
24.87
36.90
25.93
20.87
32.12
9.37
29.58
23.60
64.17
54.47
39.90
13.43
29.87
40.66
20.75
20.25
24.87
23.37
70.00
76.43
25,199.15
12,824.57
21,699.27
40,562.64
29,549.01
9,849.67
31,561.44
11,987.50
5,094.82
23,324.22
11,589.61
11,527.11
16,999.42
8,999.69
26,749.10
9,749.67
8,459.71
6,849.77
17,699.40
32,098.92
33,348.88
31,811.43
32,276.42
21,149.29
45,603.47
12,437.08
36,900.76
25,929.13
12,524.58
9,637.17
14,062.02
8,874.70
22,423.60
44,917.50
21,789.27
55,858.13
13,429.55
11,949.60
16,264.00
14,525.00
10,125.00
9,949.66
21,036.79
17,499.41
38,213.72
•
•
Date
Quantity
Longer Investments, Incorporated
PURCHASE AND SALE REPORT
City of Fayetteville Police Pension Fund
Stock Account
From 01-01-91 To 12-31-91
Security
Unit
Price
Amount
07-22-91
07-24-91
03-01-91
07-12-91
02-27-91
04-17-91
06-11-91
11-01-91
11-07-91
06-13-91
10-02-91
•
•
500
500
400
300
600
8
7
10
10
50,000
50,000
Warner Lambert
Warner Lambert
Waste Management
Waste Management
Westinghouse Elec
IBM April 110 Puts
OEX June 350 Puts
OEX Nov. 370 Puts
OEX Nov. 370 Puts
U . S. Treasury Note
7.125% Due 10-15-93
U . S. Treasury Note
7.125%.Due 10-15-93
5
67.37
67.25
42.12
35.38
27.43
O .90
O .82
5.42
4.03
99.43
101.94
33,686.37
33,623.87
16,849.43
10,613.64
16,457.45
720.61
571.96
5,420.81
4,032.20
49,715.62
50,968.75
1,727,785.26
•
Date
Quantity
Longer Investments, Incorporated
PURCHASE AND SALE REPORT
City of Fayetteville Police Pension Fund
Bond Account
From 01-01-91 To 12-31-91
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
•
ADJUST CAPITAL
04-15-91
•
100,000 U. S. Treasury Note
8.000% Due 05-15-01
24,000 U. S. Treasury Note
7.125% Due 10-15-93
115,000 U. S. Treasury Note (912827C26)
6.375% Due 08-31-93
100,000 U. S. Treasury Strip (912833DA5)
O .000% Due 08-15-11
100,000
100,000
94,000
G . E. Capital Corp.
8.000% Due 12-01-92
U . S. Treasury Strip (912833DA5)
O .000% Due 08-15-11
Mcllroy Bank & Trust (Matures
8-27-91)
7.805% Due 11-27-91
24,000 U. S. Treasury Note
7.125% Due 10-15-93
99.00
99.91
99.89
17.72
101.18
19.05
100.00
0.11
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
25.34
25.34
•
•
•
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• • • • • • • • • • • • • • • • • • • • • •
•
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Fayetteville Police Pension Fund
Combined Account
Report of Fees and Expenses
January 1, 1991 - December 31, 1991
01-14-91 Management Fee
04-08-91, Management Fee
07-08-91 Management Fee
10-09-91 Management Fee
02-05-91
03-18-91
05-24-91 05 24-91
061-28-91
09-30-91
12-31-91
Northern
Northern
Northern
Northern
Northern
Northern
Commissions
TOTAL
Trust Fee
Trust Fee
Trust Fee
Trust Fee
Trust Fee
Trust Fee
Average Invested Capital
Commissions as a Percent of Total
Total Expense Ratio
$ 4,035.57
4,429.58
4,475.75
5,446.48
$18,387.38
$ 400.00
601.72
409.75
409.75
409.75
409.75
$ 2,640.72
11,535.50
$32,563.60
$1,773,056.00
0.65%
1.80%
•
•
1992 OUTLOOK
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A.
ARKANSAS FIRE i POLICE PENSION REVIEW BOARD
P.O. DRAWER 34164
LITTLE ROCK, ARKANSAS 72203
City of Fayetteville, Arkansas
Police Pension Fund
(Pension Fund Name)
pP
"TT fpinrICED
STATEMENT OF REVENUES AND EXPENDITURES
for the year ending December 31, 1991
REVENUES
A. Employee Contributions:
B. Employer Contributions:
from State Insurance Tax
C. Employer Contributions:
from Local Millage Tax
D. Employer Contributions:
Other Local 1. 6% match or $12
per volunteer
Police funds only>2. 10% city fines 6 forfeitures
• ■•
>3. Sale of Confiscated Goods
Suspension
Fines
4. Other (specify)
5. Total Other Local
E. Total Employer Contributions (B+C+DS)
F. Investment Income (Gross Totals)
1. Interest and Dividends
2. Gain or (Loss) on sales
3. Other (specify) Disc/Prem
amort.
$ 39,954.55
$ 135,488.83
$ 131,932.95
$ 79,908.08
$ 71.432.49
$ 1.830.66
$ 2.145.45
$155 316.68
•
$297,748.67
$176,135.61
$ 5,215.40
4. Total Gross Investment Income (1+2+3)
G . Other Revenues (specify) Donations
H . Total Revenues ((A+E+F4+G)
700.00
•
$ 422,738.46
$479,099.68
$ 700.00
$942,492.69
•
• EXPENDITURES
A. Refunds of Employee Contributions S
B. Benefits Paid $288,021.84
C. Administrative Expenses $ 2,212.00
D. Investment Expenses
1. Investment Manager Fee $ 49,979.43
2. Brokerage Fees S
3. Custodial Fees $
4. Other Investment Fees (specify) S
5.' Total Investment Expenses $ 49,979.43
B. other (specify) S
F. Total Expenditures $ 340.711 7
• Addition (Reduction) in Pension Fund Assets For The Year
(TotalMevenues "B" minus Total Expenditures "F") $ 602,279.4
Did the pension fund receive a full mill during the reporting year?
Yes_ No x
If no, what fraction of mill was received? 0.5 .
•
•
•
•
SCHEDULE •A•
SCHEDULE OF INTEREST AND DIVIDENDS
BY ASSET TYPE
for year ending December 31, 1991
This Schedule should reflect only the interest and dividends earned
on Fund investments for the year.
Bank Deposita S 739.11
B. Savings and Loan Deposits S
C. Other Cash Equivalents 77,196.04
(maturing in one year or less) $
D. U.S. Government Securities $ 134,500.22
• E. Non -U.S. Government Securities S
F. Mortgages S
G . Corporate Bonds $ 42,971.58
H . Corporate Common Stock $ 42,341.72
I. Other (specify) S
J. Total Interest and Dividends
(See page 1, revenue item F1) S 297,748.67
•
•
for the year ending December 31, 1991
RESERVE ASSETS Book Value (Cost)
A. Cash and bank checking account $
(non-interest earning)
B. Bank deposits (interest earning) $ 4.871.49
C. Savings and loan deposits (interest earning) $
D . Other cash equivalents $ 1,267,139.35
(maturing in one year or less)
E . U.S. Government securities $ 1,706,413.38
F. Non -U.S. Government securities $
G. Mortgages $
11. Corporate Bonds $ 444,534.09
(Market value of corporate bonds at
December 31: $478,388.50 )
I. Corporate common stock and convertibles $1,663,135.92
(Market value of common stock and convertible
issues at December 31:1,984,884.21
Acc. Int. 41,/ 1.88
J. Other (specify) Purch Int. 8,807.55 $ SR4R56_09
Due from others 8,336.66
• K. Total Reserve Assets (A thru J) $5,144,950.32
RESERVE ACCOUNTS
•
A. Member Reserves at December 31
(Total, Cumulative Employee Contributions Only)
B. Employer Reserves at December 31
(Total, Cumulative State Insurance Tax, Millage,
interest and Dividends, Etc.)
C. Other (Specify) $
D. Total Reserve Balances (A thru C) $5,144,950.32
•
$ 336.940.06
$4.808.010.26
Note: Act 6 funds should attach a listing of all securities by type and
amount.
•
ACCUMULATED EMPLOYEE CONTRIBUTIONS
at December 31, 1991
$ 336,940.06
NOTE: Funds for Police Officers and Full -Paid Firefighters should complete
ISA: Funds for Volunteer Firefighters should complete 48. Funds with
both Full -Paid and Volunteer Firefighters should identify the dollar
amount contributed for each by allocating revenue item "E" from the
Statement of Revenues and Expenditures in accordance with the attached
Method of Allocation (see instructions).
4A. STATEMENT COMPARING ACTUAL EMPLOYER CONTRIBUTIONS TO ACTUARIALLY
COMPUTED EMPLOYER CONTRIBUTIONS REQUIREMENT FOR POLICE OFFICERS i
FULL -PAID FIREFIGHTERS
for the year ending December 31, 1991
A. Total employer contributions in dollars
(Revenue item "E" from Statement of Revenues
and Expenditures - Page 1) $ 422,738.46
B. Covered employee payroll for the year, in dollars $ 665,901.07
C. Actual employer contribution percent for the
year (a/b) $ 63.5%
D. Actuary's computed contribution percent for the
year (For years ending through 12/31/91, the
actuary's computed contribution would be established
by the most recent actuarial valuation on file.) $ 36%
4B. STATEMENT COMPARING ACTUAL EMPLOYER CONTRIBUTIONS TO ACTUARIALLY
COMPUTED EMPLOYER CONTRIBUTION REQUIREMENTS FOR VOLUNTEER FIREFIGHTERS
for the year ending December 31, 1991
A. Total employer contributions in dollars (Revenue
item "E" from Statement of Revenues and
Expenditures - Page 1.) $
B. Actuary's computed contribution for the year in
dollars (For years ending through 12/31/91, the
actuary's computed contribution would be established
by the most recent actuarial valuation on file.) $
NOTE: Funds which have not diversified investments under Act 6 of 1985
sHOuld complete Section 5A only. Funds which have diversified under Act 6
.should use 5B.
• SA.
1. Reserve Assets
a. End of Year Balance la.
b. Beginning of Tear Balance lb.
c. Interest Income, received during year
(See page 1, item F1) lc.
2. Total Return
a. Interest Income: (Line lc) 2a.
b. Average Fund Balance: (la+lb/2) 2b.
c. Rate of Return (2a/2b) 2c.
5b. ACP 6 FUNDS ONLY
1. Reserve Assets
a. End of Year Balance la.5,144,9'50.32
b. Beginning of Tear Balance lb.4,542,670.90
c. Realized Gains During Tear lc. 221,750.86
d. Realized Losses During Year ld. 45,615.25
e. Interest and Dividends Received
During Year (See page 1, item F1) le. 297.748.67
f. Other Income (page 1, item F3) 1f. 5,215.40
•
2. Ordinary income
a. investment Income: (line le)
b. Average Book Value: (la+lb/2)
2a. 297,748.67
2b.4,843,810.61
c. Rate of Return: (2a/2b) 2c. 6.15%
3. Total Return
a. Total Investment Income :
(le+lc-1d+lf) 3a. 479,099.68
b. Average Book Value: (Same as 2b) 3b.4,843,810.61
c. Rate of Return: (3a/3b) 3c. 9.89%
4. Total Market Value of all assets held at 12/31/91 $ 5,560,286.54
•
U
Name
rayeLLevLsxe
Police
Active Members As Of December 31, 199f
Date of Date of Gross Annual Accumulated
Sex Birth Hire Salary Contributions Comment
•Allen , C M 11/40 4/77
Bradley , 0 M 10/49 10/72
Bradley , B M 9/44 1/72.
Brown , J M 11/59 5/82
Carroll , B M 6/57 3/82
✓ Cole , R M 10/56 8/82
v
Foster , B M 2/34 10/68
✓ Friend , J M 3/47 '11/75
Dugger , G M 2/49 7/80
Hanna , M M 10/56 12/78
NI
Hartwick , T M 5/50 7/82
✓ Helder , T M 1/59 2/82
• Hoyt JR , 8 M 7/54 4/76
Johnson , C M 7/46 2/79
Johnson , F M 4/60 5/81
y Kilgore , D M 4/58 9/80
Martin , K M 8/48 4/77
J Mueller , R F 10/40 4/73
U Munson , A F 9/50 6/81
Roberts , E M 10/47 11/68
✓ Schuster , J M 7/58 8/76
V Stanley , M M 12/48 7/81
Taylor , D M 6/53 1/77
✓ Watson , R M 6/38 8/66
•
O
22,680.84
41,153.22
31,432.45
22,479.52
22,514.70
26,363.12
22,640.28
35,394.32
28,827.30
26,303.28
22,278.45 .
28,922.38
31,391.85
25,303.94
27,726.58
21,494.72
31,233.80
22,841.00
25,297.71
31,633.48
22,760.78
26,722.18
20,740.68
47,764.49
13,057.39
20,166.03
18,606.68
8,669.51
10,155.82
10,661.37
11,268.32
21,907.30
15,663.51
11,780.48
10,140.69
11,567.25
16,621.20
12,554.27
11,845.17
11,380.69
15,677.27
13,105.66
11,287.80
20,036.95
11,976.03
11,456.87
12,968.54
24,385.26
Accumulated Contributions is the total amount contributed while an
Employee plus any interest credited to the member's account.
C:\TEMP\ACTIVE\DF171PA9.F1L
•
•
Nsae
.LSN
ARNOLD R
SAYLIS
S LACK
S Oill
BROOKS
COOPER
DAY
DENNIS
FLOWERS
MASIINS
NUYCRINS
JOHNSON
•,o9R9 1 ,
Ponce
Retiree Listing As Of December 31, 199+
Date of Date of Benefit Mon'Aly Spouse Age 40 Final T f
Sea Birth Retirement Option Benefit 0011 Bonus Salary Service Comments
, L 9 '2/21 0/ 0 3 272.50 0/ 0
D M 10/34 0/ 0 1 636.00 11/21
, D M 6/31 0/ 0 1 760.13 6/42
, 3 M 5/35 0/ 0 1 539.44 12/44
3 M 10/26 0/ 0 1 342.33 0/ 0
, 1 M 11/29 0/ 0 1 726.22 0/ 0
, A M 2/24 0/ 0 1 310.15 4/30
, L F 6/97 0/ 0 3 250.00 0/ 0
, W M 3/24 0/ 0 1 666.51 0/ 0
, M H 3/23 0/ 0 1 413.31 11/22
, R M 7/42 0/ 0 2 374.65 0/ 0
, C M 4/32 0/ 0 1 614.65 0/ 0
, 9 M 6/40 0/ 0 2 375.30 7/40
O M 12/36 0/ 0 2 1,561.67 4/36
, 1 M 1/39 0/ 0 1 751.36 6/41
, L M 6/23 0/ 0 1 250.00 4/30
, I M 1/23 0/ 0 1 315.00 :/27
L M . 11/42 0/ 0 1 612.19 6/46
M F 6/23 0/ 0 3 250.00 0/ 0
I f 10/43 0/ 0 3 485.02 0/ 0
, M M 10/39 8/89 1 1,104.75 1/41
, 7 M 2/31 0/ 0 2 250.00 10/32
, L M 5/47 8/89 2 1,113.09 3/52
LAWSON
LItYIJ!
14201
MC CAWLEY
MCCRRISYI ,
MCWHORTER ,
MITCHELL
• MURPHY
ftRDUS
•
Benefit Option: 1 -Service Retirement, 2 -Disability, 3 -Survivor Benefit
Final Salary and Tears of Service are as of the Date of Retirement
C:\ttlP\RE7IRlE\DF1711,29.IIL
•
Name
Poli..•
Satire• Listing As Of December 31, 1991
Date of Date of Bensflt Monthly Spouse Age 60 final Tears of
Ser Sirth Retirement Option Benefit DOS Bonus Salary Service Comments
•IIILLIPSN , 0 M 9/40 0/ 0 1 643.00 5/44
PttSTON , 0 M 7/42 0/ 0 2 767.43 6/45
tiCOu►N , L M 10/40 0/ 0 1 1,069.19 3/45
RICOINS , 1 M 6/33 0/ 0 2 606.67 6/36
RITCHIE , L 1 6/ 7 0/ 0 3 250.00 0/ 0
StULTON , f M 2/12 .0/ 0 1 396.70 7/23
SOUTHERN r M 101 0 0/ 0 1 250.00 4/11
SIMMER , 6 M 12/22 0/ 0 1 659.25 0/ 0
STOUR , Y M 9/22 0/ 0 1 415.25 6/26
6UIRLt6 , 3 M 1/42 0/ 0 1 1,304.17 2/43
UPTON , 1 M 6/S3 0/ 41 2 500.56 0/ 0
WATTS , P f 12/96 0/ 0 3 250.00 0/ 0
YILLIAMS , 5 M 4/41 0/69 2 1,211.07 12/42
•
MITI , 0 M 3/38 0/ 0 1 646.72 0/39
MOOD , 1 M 2/32 4/63 1 757.62 5/29
Benefit Option: 1 -Service Retirement, 2 -Disability, 3 -Survivor Benefit
rine' Salary and Tears of Service ars as of the Date of Retirement
C:ITEMP\RETIRSMDr171PR9. 1IL
•
•
• City of Fayetteville, Arkansas
Policemen's Pension 2 Relief Fund
Investments - Current Illipber
31, 1991
Purchase Investment
Units Date Cost
Cash Equivalents
Dean Witter Accounts:
San Us Ovt MSc!
co - Greenwood Trust -Delaware
eX da 5/8/96
CD - 1st Fed. Bank - Santa Monica
6 4X. due 6/19/92
CO - San Swings Bank
8 05X da 6/19/96
Longer Investments:
Benchmark Govt Fund
CO - 1st USA Bank - Wilmington
e.32 d e 1/2/96
City Held:
Cash in Bank
• Total Cash Equivalents
Government Securities:
Dean Witter Accounts:
FNMA-6.22,dus 12/23/96
U.S. T -Note -8.52,
due 02/15/2000
FNMA -9 22, due 9/11/2000
U.S. T -Nob -7.875%.
da 11/15/99
FNMA -8.875%, due 1/10/94
U.S. T -Note -82, due 5/15/2001
Longer Innvestmsnts Accents:
Fed Maes Loam Mtg,
9.152,due 08/08/2000
U.S. T -Note -7.1252,
due 10/15/93
U>S> 7 -Note -U. due 5/15/2001
U>S> T -Note -6.3752. due 8/31/93
City Held:
US T -Nota 7 252, due 7/15/93
US T -Note 8.375X, due 11/15/92
• Total Government Securities
01/12/90
08/13/90
04/02/91
06/20/91
12/18/91
06/19/91
08/08/90
03/12/91
06/06/91
09/03/91
6-02-88
6-02-88
694.574.10
90,000.00
90,000.00
90,000.00
202,565.25
100.000.00
4,871.49
PPEN 91
Market
Value
694,574.10
90,000.00
90,000.00
90,000.00
202,565.25
100,000.00
4,871.49
1,272.010.84 1,272,010.84
150,000.00
100,000.00
63.452.35
195,283.60
215.752.35
195.812.50
100,000.00
23,977.50
197,265.63
114,869.45
175,000.00
175,000.00
162,750.00
111,500.00
68,475.00
212,250.00
221.250.00
217,000.00
109,875.00
24.983 00
217,000.00
118,163.00
181,890.00
179,867.00
1,706,413.38
1.825,003.00
City of Fayetteville, Arkansas
Policemen's Pension i Relief Fund
Investments - Current Holdings
ember 31, 1991
Corporate Bonds:
Dean Hitters
Eastman Kodak 9.1252.
due 3/1/98
Xerox Credit Corp. 10.1252
die 4/15/99
Toronto Dom US 1 9.92
DUE 2/1/99
Dayton Hudson 9.42
d,e 2/15/2001
Papuioo Inc. 7.752
- dim 10/01/98
TVA - 7.45X
due 10/15/2001
r Investments:
lip Morris 9.252
dna 12/1/97
Total Corporate Bands
Corporate Stocks:
Dean Hitter:
Amertel. i Tel.
Amoco Corp.
Bectin Dickinson
Boeing Co.
Boeing Co.
Eastman Kodak
Eastman Kodak
General Electric
GTE Corp
Hanson TR Spans.
IBM
Lilly Eli A Co.
Lincoln Natl. Corp.
Motorola
Motorola
ifio Telesis
fillip Morris
PPEN 91
Purchase Investment Market
Units Date Cost Value
01/02/90
07/24/90
09/20/99
02/21/91
10/09/91
10/24/91
1,000.00 01/22/91
1,000.00 09/11/91
600 00 08/22/91
400.00 07/01/91
300.00 05/15/91
800.00 05/13/91
300.00 11/16/90
.400.00 11/16/90
1,000.00 11/16/90
1,600.00 05/13/91
300.00 04/26/91
500.00 10/29/91
800.00 09/16/91
300.00 02/01/91
300.00 05/15/91
600.00 11/16/90
300.00 06/07/91
50,000.00
50.000.00
50,000.00
51.252.35
74.886.00
68.395.74
54,000.00
55,750.00
52.812.50
56,000.00
77.437.50
71.837.50
100.000.00 110,551.00
444.534.09 478,388.50
29,250.00 39,125.00
51,951.00 49,125.00
41,925 00 41,100.00
18,250.00
14,100.00 33,425 00
33,200.00
11,737.50 53,075.00
20,100.00 30,600.00
28,250.00 34,625.00
32,000.00 32,600.00
33,000.00 26,700.00
36,625.00 41,750.00
39,200.00 43,800.00
18,675.00
18,675.00 39,150.00
26,700.00 26,775.00
20,152.20
City of Fayetteville. Arkansas
Policemen's Pension a Relief Fumed
I struts - Current Holdings
r 31, 1991
Phillip Morris
PPR Industries
SHL Trans. A Trad.
Matte Mgmt.
Haste Meat.
Haste Meat.
Waste Picot. Inc.
Longer Imrestesntst
Abbott Labs
ADR Glaxo Holdings
American Barrick Res.
American Home Prod.
Amoco Corp
Arbor Drugs
Arbor Drugs
Archer Daniels Midland
Armstrong World
Baxter Intl.
Briggs a Strsttan
A Stratton
a Stretton
Bristol Myers - Squibb
Bristol Myers - Squibb
Bristol Myers - Squibb
Cintas Corp
Claire* Stores
Claire* Stores
Comm. Psych. Centers
Crane Co.
Crane Co.
Dean Foods
Diebold
Diebold Inc.
Dreyer* Grand Ice Cream
Dur Filleusr Mad.
Emerson Electric
Emerson Electric
Evans Bob Farms
Harnischfeger Inds.
Harnischfeger Inds.
Hasbro Inc.
Hershey Foods
IBM Call Option
Tnput/Output Corp
s Cafeteria
tel Inc.
Units
500.00
500.00
400.00
200.00
500.00
300.00
500.00
Purchase
Date
11/16/90
12/18/91
11/16/90
07/08/91
07/01/91
05/13/91
02/01/91
1,000.00 01/14/91
2,000.00 02/06/91
1,200.00 11/14/91
400.00 11/01/91
500.00 10/09/91
1,000.00 08/14/91
500.00 10/08/91
630.00 12/31/90
500.00 09/19/91
1,000.00 07/31/91
900.00 06/12/91
300.00 09/24/91
400.00 10/10/91
300.00 01/11/91
200.00
300.00 12/31/90
500.00 10/15/91
1,000.00 09/23/91
750.00 09/26/91
1,000.00 12/20/91
1,000.00 09/05/91
500.00 09/27/91
900.00 04/12/91
500.00 08/29/91
100.00 02/07/91
800.00
1,000.00
300.00
1,200.00
1,000.00
10/11/91
11/01/91
05/07/91
12/04/90
09/20/91
500.00 08/06/91
500.00 07/31/91
1,000.00 09/26/91
450.00 08/16/91
400.00
1,000.00 11/20/91
1,500.00 12/19/90
625.00 03/13/91
Investment
Cost
24,000.00
22,812.50
20,800.00
7,394.40
18,312.50
12.112.50
21,062.50
40.350.00
35.687.50
29,196.00
29.350.00
26,125.00
19.875.00
9,500.00
13,973.72
16,062.50
33,350.00
28,237.50
11,150.00
15.328.00
18,861.00
12,480.00
17,376.00
21.785.00
8,875.00
5,793.75
11,955 00
27,320.00
12,035.00
27,074.50
21.737.50
3,760.00
20.700.00
22,344.00
13,498.50
48.084.00
18,125.00
11,000.00
10.410.00
27,820.00
18.823.50
2,349.21
13.070.00
18.132.50
11,971.00
PPEN 91
Market
Value
64,200.00
25,250.00
22,450.00
63,187.50
68,875.00
63,500.00
33,450.00
33,850.00
24.563.00
34,875.00
20,869.00
14,625.00
40,000.00
70,600.00
70,600.00
25.000.00
14,656.00
14,125.00
35,438.00
27,450.00
28,950.00
27,800.00
20.250.00
82.500.00
26,000.00
21,375.00
40,500.00
19,969.00
2,349.21
11,125.00
14,375.00
20,703.00
City of Fayetteville, Arkansas
Policemen's Persian A Relief Fund
Investssnts - Current Holdings
31, 1991
McDonald.
McDonald.
Mobil Corp
Mobil Corp.
P.cifioorp
Phillip Morris
Phillip Morris
Readers Digest
TCR
Toys R Us
Toys R Us
Toys R Us
Tyson Foods
Tyson Foods
Tyson.
Malemrt
Halsor'
Kerner Lambert - call option
Mast. Myst.
Masts Mgnt.
•
•
Total Corporate Stocks
Grand Total
Purchase
Units Date
500.00 08/08/91
500.00 08/09/91
500.00 12/19/90
500.00 09/30/91
1,000.00 12/10/90
400.00 01/28/91
800.00 12/10/90
500.00 02/06/91
1,000.00 07/09/91
200.00 12/10/90
600.00 04/01/91
500.00 10/29/91
1,000.00
1,000.00
500.00
500.00
500.00
500.00
100.00
300.00
10/02/91
12/16/91
12/16/91
"
Investment
Cost
16,240.00
16,097.50
31,085.84
34,102.50
19,570.00
21,200.00
32,748.16
14,435.00
10,850.00
5,768.50
15,600.00
14,785.00
10,696.50
20,070.00
9,687.50
25,812.50
14,514.14
1,548.50
3,336.00
10,537.50
PPEN 91
Market
Value
38,000.00
67,875.00
25,125.00
96,300.00
24,188.00
15,250.00
15,250.00
50,313.00
58,875.00
1,548.50
16,850.00
1,663,135.92 1,984,884.21
5,086,094.23 5,560,286.55
vnevvaem a
411.
•
•
•
ARKANSAS FIRE POLICB PENSION REVIEW BOARD
34164
LITTLE ROCK, ARKANSAS 72203
City of Fayetteville, Arkansas
Police Pension Fund
(Pension Fund Name)
A. STATEMENT OF REVENUES AND EXPENDITURES
for the year ending December 31, 1991
REVENUES
A. Employee Contributions:
B. Employer Contributions:
from State Insurance Tax
C. Employer Contributions:
from Local Millage Tax
D. Employer Contributions:
Other Local 1. 6% match or $12
per volunteer
Police funds only>2. lea city fines 6 forfeitures
■ " " >3. Sale of Confiscated Goods
Suspension
4. Other (specify) Fines
5. Total Other Local
E. Total Employer Contributions (B+C+D5)
F. Investment Income (Gross Totals)
1. Interest and Dividends
2. Gain or (Loss) on sales
3. Other (specify) Disc/Prem
amort.
$ 39,954.55
$ 135,488.83
$ 131,932.95
$ 79,908.08
$ 714,432.49
$ 1.830.66
$ 2,145.45
$155,316.68
$297,748.67
$176,135.61
$ 5,215.40
•
$422,738.46
4. Total Gross Investment Income (1+2+3) $479,099.68
G. Other Revenues (specify) Donations
H. Total Revenues ((A+E+F4+G)
700.00
$ 700.00
$942,492._69
•
•
•
EXPENDITURES
A. Refunds of Employee Contributions
8. Benefits Paid
C. Administrative Expenses
D. Investment Expenses
1. Investment Manager Fee
2. Brokerage Fees
3. Custodial Fees
4. Other Investment Fees (specify)
5. Total Investment Expenses
E. Other (specify)
F. Total Expenditures
Addition (Reduction) in Pension Fund Assets For The
(Total` Revenues NB" minus Total Expenditures "F")
Did the pension fund receive a full mill during the
Yes_ No X
If no, what fraction of mill was received? 0.5
$ 49,979.43
$ 49,979.43
Year
•
$288,021.84
$ 2,212.00
$ 340,21i 9'
$ 602,279.4
reporting year?
•
•
•
SCHEDULE •A•
SCHEDULE OF INTEREST AND DIVIDENDS
BY ASSET TYPE
for year ending December 31, 1991
This Schedule should reflect only the interest and dividends earned
on Fund investments for the year.
A. Bank Deposits
B. Savings and Loan Deposits
C.- Other Cash Equivalents
(maturing in one year or less)
D. D.S. Government Securities
• E. Non -U.S. Government Securities
F. Mortgages
G . Corporate Bonds
H . Corporate Common Stock
I. Other (specify)
J . Total Interest and Dividends
(See page 1, revenue item F1)
739.11
$ 77,196.04
$ 134,500.22
$
$
$ 42,971.58
$ 42,341.72
$ 297.748.67
for the year ending December 31, 1991
• ' RESERVE ASSETS Book Value (Cost)
A. Cash and bank checking account $
(non-interest earning)
Bank deposits (interest earning) $ 4.871.49
C. Savings and loan deposits (interest earning) $
D. Other cash equivalents $ 1,267,139.35
(maturing in one year or less)
E . O.S. Government securities $1,706.413.38
F. Non -U.S. Government securities $
G . Mortgages $
H . Corporate Bonds $ 444,534.09
(Market value of corporate bonds at
December 31: $478,388.50 )
1. Corporate common stock and convertibles $1,663,135.92
(Market value of common stock and convertible
issues at December 31:1,984,884.21
Acc. Int. 41,/ 11.88
J. Other (specify) Purch Int. 8,807.55 $ SR4R56_09
Due from others 8,336.66
• K. Total Reserve Assets (A thru J) $5,144,950.32
RESERVE ACCOUNTS
A. Member Reserves at December 31
(Total, Cumulative Employee Contributions Only)
B. Employer Reserves at December 31
(Total, Cumulative State Insurance Tax, Millage,
Interest and Dividends, Etc.)
C. Other (Specify)
•
S 336.940.06
$4.808.010.26
D. Total Reserve Balances (A thru C) $5,144,950.32
Note: Act 6 funds should attach a listing of all securities by type and
amount.
ACCUMULATED EMPLOYEE CONTRIBUTIONS
at December 31, 1991
$ 336,940.06
NOTE: Funds for Police Officers and Full -Paid Firefighters should complete
Mira, Funds for Volunteer Firefighters should complete 4B. Funds with
both Full -Paid and Volunteer Firefighters should identify the dollar
amount contributed for each by allocating revenue item "E" from the
Statement of Revenues and Expenditures in accordance with the attached
Method of Allocation (see instructions).
4A. STATEMENT COMPARING ACTUAL EMPLOYER CONTRIBUTIONS TO ACTUARIALLY
COMPUTED EMPLOYER CONTRIBUTIONS REQUIREMENT FOR POLICE OFFICERS &
FULL -PAID FIREFIGHTERS
for the year ending December 31, 1991
A. Total employer contributions in dollars
(Revenue item "E" from Statement of Revenues
and Expenditures - Page 1)
$ 422,738.46
B. Covered employee payroll for the year, in dollars $ 665,901.07
C. Actual employer contribution percent for the
year (a/b)
D. Actuary's computed contribution percent for the
year (For years ending through 12/31/91, the
actuary's computed contribution would be established
by the most recent actuarial valuation on file.) $ 36%
$ 63.5%
4B. STATEMENT COMPARING ACTUAL EMPLOYER CONTRIBUTIONS TO ACTUARIALLY
COMPUTED EMPLOYER CONTRIBUTION REQUIREMENTS FOR VOLUNTEER FIREFIGHTERS
for the year ending December 31, 1991
A. Total employer contributions in dollars (Revenue
item "E" from Statement of Revenues and
Expenditures - Page 1.) $
B. Actuary's computed contribution for the year in
dollars (For years ending through 12/31/91, the
actuary's computed contribution would be established
by the most recent actuarial valuation on file.) $
•
•
1
NOTE: Funds which have not diversified investments under Act 6 of 1985
i:1 ii1d complete Section 5A only. Funds which have diversified under Act 6
-should use 58.
•5A.
1. Reserve Assets
a. End of Year Balance
b. Beginning of Year Balance
c. Interest Income, received during year
(See page 1, item F1)
2. Total Return
a. Interest Income: (Line lc)
•
•
le.
lb.
lc.
2a.
b. Average Fund Balance: (la+lb/2) 2b.
c. Rate of Return (2a/2b) 2c.
5b. ACP 6 FUNDS ONLY
1. Reserve Assets
a. End of Year Balance la.5,144,9450.32
b. Beginning of Year Balance lb.4,542,670.90
C. Realized Gains During Year lc. 221,750.86
d. Realized Losses During Year id. 45,615.25
e. Interest and Dividends Received
During Year (See page 1, item F1) le. 297.748.67
f. Other Income (page 1, item F3) lf. 5,215.40
2. Ordinary Income
a. Investment Income: (line le) 2a. 297,748.67
b. Average Book Value: (la+lb/2) 2b.4,843,810.61
C. Rate of Return: (2a/2b) 2c. 6.15%
3. Total Return
a. Total Investment Income :
(le+lc-ld+lf) 3a. 479,099.68
b. Average Book Value: (Same as 2b) 3b.4,843,810.61
c. Rate of Return: (3a/3b)
•
3c. 9.89%
4. Total Market Value of all assets held at 12/31/91 $ 5,560,286.54
v
•
•
Name
.Hien
6
V
Bradley
Bradley
Brown
Carroll
Cole
Dugger
Foster
Friend
Hanna
Hartwick
Helder
kalkHoyt JR
Johnson
V
0
Johnson
Kilgore
Martin
Mueller
Munson
Roberts
Schuster
Stanley
Taylor
Watson
C
G
R
,
R
,R
rayeLLeviaie
Police
Active Members As Of December 31, 199f
Date of Date of
Sex Birth Hire
M 11/40
M 10/49
M 9/44
M 11/59
M 6/57
M 10/56
G M 2/49
B M 2/34
, J. M 3/47
M M 10/56
T M 5/50
T M 1/59
M 7/54
, C M 7/46
F M 4/60
D M 4/58
K M 8/48
, R F 10/40
, A F 9/50
, E M 10/47
J M 7/58
M M 12/48
, D M 6/53
R M 6/38
4/77
10/72
1/72.
5/82
3/82
8/82
7/80
10/68
11/75
12/78
7/82
2/82
4/76
2/79
5/81
9/80
4/77
4/73
6/81
11/68
8/76
7/81
1/77
8/66
Gross Annual Accumulated
Salary Contributions
22,680.84
41,153.22
31,432.45
22,479.52
22,514.70
26,363.12
22,640.28
35,394.32
28,827.30
26,303.28
22,278.45
28,922.38
31,391.85
25,303.94
27,726.58
21,494.72
31,233.80
22,841.00
25,297.71
31,633.48
22,760.78
26,722.18
20,740.68
47,764.49
13,057.39
20,166.03
18,606.68
8,669.51
10,155.82
10,661.37
11,268.32
21,907.30
15,663.51
11,780.48
10,140.69
11,567.25
16,621.20
12,554.27
11,845.17
11,380.69
15,677.27
13,105.66
11,287.80
20,036.95
11,976.03
11,456.87
12,968.54
24,385.26
Accumulated Contributions is the total amount contributed while an
Employee plus any interest credited to the member's account.
C:\TEMP\ACTIVE\DF171PA9.FIL
Covent:
Name
Police
Retiree Listing As Of December 31, 199+
Date of bete of Hnef/t Monthly Spouse Age 40 Final T f
Sea Birth Retirement Option Benefit DOS *onus Salary Service Comments
LEN . L f 2/21 0/ 0 3 272.50 0/ 0
ARNOLD 9 D M 10/34 0/ 0 1 838.00 11/21
IATLES , D M 8/39 0/ 0 1 760.73 6/42
S LAG , 2 M 5/3S 0/ 0 1 539.44 12/44
S OYSM, 2 M 10/26 0/ 0 1 342.33 0/ 0
BROOKS . R M 11/21 0/ 0 1 726.22 0/ 0
COOPER , A M 2/24 0/ 0 1 310.95 4/30
DAT 1 , L t 6/17 0/ 0 3 250.00 0/ 0
DENNIS , V M 3/24 0/ 0 1 666.51 0/ 0
FLONERS , M M 3/23 0/ 0 1 413.39 11/22
HASKINS , R M 7/42 0/ 0 2 374.85 0/ 0
NUTCHINS , C M 4/32 0/ 0 1 874.85 0/ 0
' JOHNSON , N 11 8/40 0/ 0 2 375.30 7/40
02031E6 11 , 0 M 12/36 0/ 0 2 1.561.67 4/38
LAWSON , 7 M 1/39 0/ 0 1 751.36 6/41
LITrLI , L M 6/23 0/ 0 1 250.00 4/30
LORCIE M 1/23 0/ 0 1 315.00 :/27
MC CANLII , L M 11/42 0/ 0 1 812.19 6/4S
MCCRISTI , 11 P . 8/23 0/ 0 3 250.00 0/ 0
MCWHORTER , t F 10/43 0/ 0 3 485.02 0/ 0
MITCHELL , M M 10/39 8/89 1 1,104.75 1/41
MURPHY , 7 M 2/31 0/ 0 2 250.00 10/32
PLIDUI
, L M 5/47 8/89 2 1,113.09 3/52
Benefit Option: 1 -Service Retirement, 2 -Disability, 3 -Survivor Benefit
final Salary and Stara of Service are as of the Date of Retirement
C:\TEMP\RETIRI\DF171P19. PIL
Mame
•
Poii.e
tetlree Listing as Of Decanter 31. 119'
Date of Date of Mneflt Monthly Spouse Age 60 final Tears of
Sas Birth R.tirement Option Mnerlt DOR Bonus Salary Service Comments
•MILLIPSN , 0 M 1/40 0/ 0 1 843.00 5/44
PttSTOM , 0 M 7/42 0/ 0 2 767.43 6/45
Malta , L M 10/40 0/ 0 1 1,061.11 3/4S
1100111 , 8 M 8/33 0/ 0 2 606.67 8/38
RITCHIE , L r 8/ 7 0/ 0 3 250.00 0/ 0
S=MLTON , 7 M 2/12 0/ 0 1 398.70 7/23
SOUTNERN , T M 10/ 0 0/ 0 1 250.00 4/11
BPtxCtt , R M 12/22 0/ 0 1 659.25 0/ 0
STOUT , M M 9/22 0/ 0 1 415.25 8/26
SURLtS , 3 M 1/42 0/ 0 1 18304.17 2/43
UPTON , 1 M 6/S3 0/ $ 2 500.58 0/ 0
NETTS , r r 12/96 0/ 0 3 250.00 0/ 0
YILLIAMS , $ M 4/41 8/69 2 1,217.07 12/42
• MITT , D M 3/36 0/ 0 1 846.72 0/39
MOOD , 7 M 2/32 4/63 1 757.62 S/29
Benefit Option: 1 -Service Retirement, 2 -Disability, 3 -Survivor Benefit
Final Salary and Tears of Service are as of the Date of Retirement
C:\tDMP\RnTItzt\DP171Pt9. PIL
City of.Faysttevills,
Policeman's Pension A
Investments - Current
1110Sber 31, 1991
Arkansas
Relief pond
Holdings
Purchase Investment
Units Date Cost
Cash Equivalents
Dean Hitter Accounts!
San Us Got Mydct
CD - Greenwood Trust -Delaware
SZ due 5/8/96
CD - 1st Fed. Banc - Saute Monica
6.47. due 6/19/92
CD - San Savings Banc
8.057. due 6/19/96
Longer Investments:
Benchmark Govt Fund
CD - 1st USA Bent - Mileington
8.3% dfa 1/2/96
•
City Held:
Cash in Banc
•
Total Cash Equivalents
Government Securities:
Dean Hitter Accounts!
FNMA-8.2/.,dus 12/23/96
U.S. T -Note -8.5Z,
due 02/15/2000
FNMA -9 2%, due 9/11/2000
U.S. T -Note -7.875%,
due 11/15/99
FNMA -8.875%, due 1/10/94
U.S. T -Note -8%, due 5/15/2001
Longer Investments Accounts:
Fed Home Loam Mtg,
9.15%,due 08/08/2000
U.S. T -Note -7.125%,
due 10/15/93
U>S> T -Note -8%, due 5/15/2001
U>S> T -Note -6.3757 dua 8/31/93
City Held:
US T -Note 7.25%, due 7/15/93
US T -Note 8.375Z, due 11/15/92
• Total Government Securities
01/12/90
08/13/90
04/02/91
06/20/91
12/18/91
06/19/91
08/08/90
03/12/91
06/06/91
09/03/91
6-02-88
6-02-88
694,574.10
90,000.00
90,000.00
90,000.00
202,565.25
100,000.00
4,871.49
PPEN 91
Market
Value
694,574.10
90,000.00
90,000.00
90,000.00
202,565 25
100,000.00
4,871.49
1,272,010.84 1,272,010.84
150,000.00
100,000.00
63,452.35
195,283.60
215,752.35
195,812.50
100,000.00
23,977.50
197,265.63
114,869.45
162,750.00
111,500.00
68,475.00
212,250.00
221,250.00
217,000.00
109,875.00
24,983.00
217,000.00
118,163.00
175,000.00 181,890.00
175,000.00 179,867.00
1,706,413 38 1.825,003.00
•
•
•
City oC. Fayetteville, Arkansas
Policemen's Pension A Relief Fund
IwYestmente - Current Holdings
r 31, 1991
Corporate Bands:
Dean Hitter:
Eastman Kodak 9.125%
d s 3/1/98
Xerox Credit Corp. 10.125%
due 4/15/99
Toronto Dom US 0 9.9Z
DUE 2/1/99
Dayton Hudson 9.4Z
due 2/15/2001
Pepsico Inc. 7.751!
• dus 10/01/98
TVA - 7.45%
due 10/15/2001
• r Investments:
slip Morris 9.25%
due 12/1/97
Total Corporate. Bonds .
Corporate Stocks:
Dean Hitter:
Amertel. i Tel.
Amoco Corp.
Bectin Dickinson
Boeing Co.
Boeing Co.
Eastman Kodak
Eastman Kodak
General Electric
GTE Corp
Hanson TR Spons.
IBM
Lilly Eli 8 Co.
Lincoln Natl. Corp.
Motorola
$otorola
jcific Telesis
Killip Morris
PPEN 91
Purchase Investment Market
Units Date Cost
01/02/90
07/24/90
09/20/99
02/21/91
10/09/91
10/24/91
1,000.00 01/22/91
1,000.00 09/11/91
600.00 08/22/91
400.00 07/01/91
300.00 05/15/91
800.00 05/13/91
300.00 11/16/90
400.00 11/16/90
1,000.00 11/16/90
1,600.00 05/13/91
300.00 04/26/91
500.00 10/29/91
800.00 09/16/91
300.00 02/01/91
300.00 05/15/91
600.00 11/16/90
300.00 06/07/91
Value
50,000.00
50,000.00
50,000.00
51,252.35
74,886.00
68,395.74
54,000.00
55,750.00
52,812.50
56,000.00
77,437.50
71,837 50
100,000.00 110,551.00
444,534.09 478,388.50
29,250.00 39,125.00
51,951.00 49,125.00
41,925 00 41,100.00
18,250.00
14,100.00 33,425 00
33,200.00
11,737.50 53,075.00
20,700.00 30,600.00
28,250.00 34,625.00
32,000.00 32,600.00
33,000.00 26,700.00
36,625.00 41,750.00
39,200.00 43,800.00
18,675.00
18,675.00 39,150.00
26,700.00 26,775.00
20,152.20
•
1 City otw eyetteville. Arkansas
Policemen's Pension A Relief Fund
Investments - Current Holdings
Illipber 31. 1991
McDonalds
McDenaids
Mobil Corp
Mobil Corp.
Peoifioorp
Phillip Morris
Phillip Morris
Readers Digest
TCR
Toys RUs
Toys R Us
Toys R Us
Tyson Foods
Tyson foods
Tysons
Malar!
Paler!
Kerner lastiert - call option
Masts Mgst.
Nests Most.
•
•
Total Corporate Stocks
Grand Total
Units
500.00
500.00
500.00
500.00
1,000.00
400.00
800.00
500.00
1,000.00
200.00
600.00
500.00
1,000.00
1,000.00
500.00
500.00
500.00
500.00
100.00
Purchase
Date
08/08/91
08/09/91
12/19/90
09/30/91
12/10/90
01/28/91
12/10/90
02/06/91
07/09/91
12/10/90
04/01/91
10/29/91
•
10/02/91
12/16/91
12/16/91
vs
300.00 01/10/91
PPEN 91
Investment Market
Cost Value
16.240.00
16.097.50
31.085.84
34,102.50
19,570.00
21.200.00
32.748.16
14,435.00
10,850.00
5.768.50
15,600.00
14.785.00
10,696.50
20,070.00
9.687.50
25.812.50
14.514.14
1.548.50
3,336.00
10.537.50
38,000.00
67,875.00
25.125.00
96,300.00
24,188.00
15,250.00
15,250.00
50,313.00
58,875.00
1,548.50
16,850.00
1,663,135.92 1,984.884.21
5,086,094.23 5,560,286.55
=s