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HomeMy WebLinkAbout1992-01-16 Minutesgong 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. • • • 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. • • • r 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 • 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, • 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. • ADJOURNMENT The meeting adjourned at 3:44 p.m. • • • • MICROFILMED v� MICROFILMED (-16 4a eNGER S CORPORAIFD City of Fayetteville Police Pension Board Meeting January 16, 1992 • • • 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 1 • • • 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 • • • 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 (c`I • • N 3 N J O U 8. L W C N N VI O 0U < d Y C C.1 5 O] O N > O < C O O E YE •- 0 CO x > > 1-4 N C u Y - z m Q L S c CV q O LL O K O J w a 4J u • m 0 H CC W_ 0 tl w < > CO < 2 U W W w U1 0O 4.1 W c 0 W S 0 w W 0 CU X 0 > CO - u - z is. 2 n — Lu O 5 4- Time Period w O P O• M O O M N d A M N O •O O 1- O— M w A N In N P O O d M M P •O O N N •O r •t O O ..... N N N N Al M 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 0 0 0 0 0 0 0 0 0 0 0 0000000000000 0 IA OG 0 0 A- M M N M p0 p 0 p MI X033 PO P OPP PA NO •O NO0 O O O O O O O O O O O O O 0000000000000 0000000000000 0 0 0 0 0 0 0 0 0 0 0 0 0 C. 0 0 d MO M A MO CO •O M M A CO CO O M 0 ▪ 0 0 0 ro 04 In 0 0 0 0 0 0 0 0 NO r o •O O DJ ' 0 1/s N P P .} P O N A A O A P IA 41 N O M O ▪ M' ^^ •• A N In .1 P M P O O Nr N N N N N M •O O A •O N M •O m M N N M 4 P O O M N M r O M 1 1 O O O o O O O O O O O O 0 0 0 0 0 0 0 0 0 0 0 0 000000000000 H O O O O in CO on OMO O O V IA rP N O _ M N r r O O O O O •O O O •0 •O 1 • N•• I 1 1 M M N e+ _ 0 0 0 0 0 0 0 0 0 0 0 0 O O P 0 0 0 0 0 0 0 0 0 0 0 0 O O A I 0 0 0. 0 0. 0 0 0 0 0 0 0 O O M O A P N A M AI 1�3 po• O O •O O A M P .fit M O P N IA P O O O r 0 0 0 N N r 0 M �f1 NO •O I \ V� n 0 A. 03 N N L > NPa CI JONO'-ON MM< M P O O ...t N J N O J M ^ P P M M 0M CO 0 •� N L UL N P P P P P P P P P P P P P 6— e0 M ▪ N M M M M M M 1 n M M M 0 M 'O 1 0• 000000010,- O r' ' 2 O 0 V 0 O O O O O O O O O O O O 0 0 •0 3 4-• Y O O O 0 O N M O O• P P P P P O. 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O y e, • WI O C > M N v p a 0 00 N M M 0 42d om•0000003WeW00 0 O J O N M A 0 J N J M O N M M M 0 A P O r 0 0 0 0 0 0 0 0 0 0 r O M M M M 4O O^ P M J O N 'O P C M J M N M 00 .1 O O 0O N A OO A P M J 0001-001-0N-4•00 00 O .O M 0 0 r P P v1 A J 0 0 N 0 0 0 r N N N M N M J J J J M O 0 M N •00 P M V M n A d M 0 J N M Y1 P J P N O N A O O O r r r r r r N N N r 0 M M.t M P' J N N A O r O �0 N A J J r ••In O J r J J 0 J P N O N A O 00 N N N r M O. d.0 0 0 • N V V OMO 0 M 0 J e M M CO N A P A 0 M .0 N J 0•M M N P N O P m N M 0 0 r N N M M J A P r N M 0 0 0 0 0 0 0 0 0 0 r r r M P m W J A N O N O 01 O O M v1 r M O N N 00 O J r O 0 r O O r N N O r M N •O M `MO . M r O .t N M N n M • .41 O O J A J M r O N M J O O N M P OCO M .Nt tet J P .Pt A N O V1 P • P • �0 0< vi • n .t • O M M • O r 1 le O M OO MIS S N J M X00 .M^ A J A N O M J J N r r J O 400.14- 4-40004‘000e. J A N O J J J N r r J r r !� N O M A J P P P J •0 N O M J J r J r P P v J N.. d NA1 M C P M 0 0 0 0 0 O O N N r r N 000.00.0.0000.0.0 e03e0eoeeeeoe M N M M M M M M M M M M N M M 0 A 0 O r r 0 0 0 0 0 0 0 0 0 0 r 0 0 0 0 0 0 0 0 0 0 0 0 000.000000.0.000 P r 10 r 0 r 0 r 0 r 0 MMMNMMMMMMMMM .NN M J M c A 00 P O r - 0 0 0 0 0 0 0 0 0 r Date to Date 0 0 MM MN AA J J Nm AA M M M M 00 mm MN 00 MM M M N N AA • /d 0 co c E L AI W 0. . 0 y a) N a2 O H O ■ � G) 0 • ` c W E o W` as LL us > 0 4' J 0) N 0 a) 0 O) r r 0' O U t a_ N FPD Bond Account ndex +15.30% a 0 co 0 m 0 E O o co • 1 , • 1 1 1 1 1, 1 T O I O E a) U a) 0 a) cci 2 a L n: 2 .a a) 1 crs C Month End 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 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 • • • C/3-1 N A C a s x x r— S S S o m O O O o n n n n m m O O D> 1•1•2•170 aai N b a._--•-• o A b 1 0 0 n S a 0 O N ID n l N n' N 0 K 0 `0 2 3 a l 0. 0 J b N .. b '� O, O w w n caw x o o a n c S 0 w 0 n w s °' a] J m 'c o o I- 0 0 1 a1 0 0 n Qm -I, — mCD 111 rt ID rt •11 n ar 0• N 0 0 b n• 10 0 b w S N co to p»p -I ro O y O 0 0 N ] 00 0 ie.0 O^ S -• T' Ef �0 0 W 0 V1 N 0 0 0 P O 0 A O O VI O p. •O N O V CO CO P 0 W VI P W 41 C N 0000000O -1001/10000040C10001/10000004100000 00000001.1100000000000000000000000 0 0 0 N .O N P W N N+ W O. Co N N N N W++ 0 V V N Vt + N W N W W pp.. N O C CN VVI CO O CO + •0 CO W N O V CO V N C C O OOP N C O C 0 W W CO WVVpD O WW p••0oNOO•r N ONIVO O ONOO001J1ONNWNW000 0 V�1 VI V VI0000000VVIPOOOOOVIVVINOON • V • • • . . . 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LL. a -J 11 s. 11 11 4- _ \ O0 0O ^T m7 0 6 O 7 O ` 11 M1 'I 0 0 0 0 J VN O P 0 -0- -0 11 • FJ7 0Ja 10 O 1- O O 7 II r0- Y 4 P T11 03 ry 43. 44 -C 14 N 04 Ore u5 +•- CJ 4 w M0- 44 .0 tt -D 1 C) M 4••q CS VS w Fe W JO w 11 • Fr 1 In V• 11 W II 11 6 0 0 0 6 0 47 O- II .` O h Cf M 0 0 0 0 .l Jl :� -O 0 -C Cf 41 in 0.1 11 sr U4 01 03 44 ' H :1' in M J✓• :37. ._ W . w 0 -CC 0-- 11 CO 47 St 4 IS4••. u - N St M 0 111 1 w. O 11 4 0 0 0 0 0 =O - 0 11 TL O 0 0 0 0 C O ll O -0 .O II r-0 J -0 0 Y7 0 II .T O- N C .'�7 0- O- 11 M w -• IS • b 49 0 -O -O 11 M p 1.• *4 4 M M 11 IIFt .n 11 11 ttttttttttttttttt • • • • • • • • • • • • • • • • • • • • • • • • • • • 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 0 in N V N M 41) CC �a U co C ma o > •- LL O O CD C. OC — ca -0o r' ma d o O O 0 v • 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