HomeMy WebLinkAbout2005-10-27 - Agendas - Final I
Firemen's Pension and Relief Fund
Meeting Agenda
October 27, 2005
A meeting of the Fayetteville Firemen's Pension and Relief Fund will be held at 11 :00 a.m.
on October 27, 2005 in Room 326 of the City Administration Building
1. Approval of the Minutes:
• September 29, 2005 Meeting Minutes
2. Approval of the Pension List:
• November, 2005 Pension list
3. New Business:
• 2006 Meeting Schedule
• NCPERS Website
• NCPERS Membership Invoice
4. Longer Investments:
• Monthly Report
• 3dQuarter Quarterly Report dated September 30, 2005.
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
September 29,2005
Pagel of 3
Firemen's Pension and Relief Fund Board of Trustees
Meeting Minutes
September 29, 2005
A meeting of the Fayetteville Firemen's Pension and Relief Fund was held at 11 :00 a.m.
on September 29, 2005 in Room 326 of the City Administration Building
Marion Doss called the meeting to order.
Present: Marion Doss, Dennis Ledbetter, Ronnie Wood, Sondra Smith, Trish Leach,
Accounting Department and Kit Williams, City Attorney.
Absent: Mayor Coody, Danny Farrar and Pete Reagan
Approval of the August 25, 2005 Meeting Minutes:
Kit Williams, City Attorney: I wasn't at the beginning of the August meeting but arrived after
the meeting had started. Would you please add my name to the minutes as being present.
Dennis Ledbetter moved to approve the August 25, 2005 meeting ;minutes as amended.
Ronnie Wood seconded the motion. Upon roll call the motion passed 4-0. Mayor Coody,
Danny Farrar and Pete Reagan were absent.
Approval of the Pension List:
Approval of the revised September, 2005 Pension List
Marion Doss: The supplement amount was not on the September Pension list when we
approved it in August. The September list has been revised and needs to be approved again.
Ronnie Wood moved to approve the revised September, 2005 pension list. Dennis
Ledbetter seconded the motion. Upon roll call the motion passed 4-0. Mayor Coody,
Danny Farrar and Pete Reagan were absent.
Approval of the October, 2005 Pension List
Dennis Ledbetter moved to approve the October, 2005 pension list. Ronnie Wood seconded
the motion. Upon roll call the motion passed 4-0. Mayor Coody, Danny Farrar and Pete
Reagan were absent.
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
September 29,2005
Page 2 of 3
Old Business-
1
Nichols & Campbell, P.A. - Income Tax Refund for Retirees - Checks should have been
issued by the State.
Sondra Smith: Some pensioners have received their checks from the State.
Trish Leach, Accounting: We sent letters to everyone letting them know if they were qualified.
They had to sign the letter and send it back if they wanted to participate. We then sent the
information to the State. The State had one question and we responded to that question.
New Business:
Approval of the Equity Allocation Overage for July 31, 2005 - Longer Investment
Statement.
Sondra Smith moved to approve the overage in Equity. Ronnie Wood seconded the
motion. Upon roll call the motion passed 4-0. Mayor Coody, Danny Farrar and, Pete
Reagan were absent.
Kim Skelton — Proof of Enrollment.
Sondra Smith: I have proof of enrollment from Kim Skelton.
Kelly Skelton Pension Benefits Terminated Au,2ust 31, 2005.
Dennis Ledbetter: Did Kelly not return to school?
Sondra Smith: She did not return to school full time, she only enrolled for 8 hours. I did not get
a proof of enrollment from Kelly. I sent her a certified letter stating that her pension benefits
would cease if I did not have proof of enrollment by September 7, 2005. I did not receive her
proof of enrollment. I did receive from the post office the form that she had to sign to pick up
the certified letter.
Kit Williams: This means that her sister will receive her benefits.
Sondra Smith: The pension amount was being split between the two sisters when one of the
girls no longer qualifies the entire amount will go to the one that does qualify. Kelly was not
going to qualify any longer after October because in October she would turn 23.
Dennis Ledbetter: If she misses this time can she come back and draw in the future?
Kit Williams: Well, she could have I think, but because of her age she is not going to be able to.
Firemen's Pension and Relief Fund
Board of Trustees Meeting Minutes
j September 29, 2005
Page 3 of 3
j
Sondra Smith: Kit and I have discussed the possibility that if they do not enroll in school one
semester, they would not receive a check during the time they are not enrolled in school, but if
they go back to school as long as they are still under the age of 23 then the check would be
issued when proof of enrollment is received by this Board.
2005 Fire Pension Future Supplement Amount - $20,880.00:
Marion Doss: That has been added to the September pension list.
Trish Leach: The State tells us the amounts and who they go to.
2005 Future Supplement Letters:
A copy of the letter that was sent to the pensioners was given to the Board.
2005. Fire Pension Turn Back Amount - $225,491.71 :
A copy of the amounts the Board received in 2004 and 2005 was given to the Board.
Act 1921 of 2005 — Letter from PRB:
Sondra Smith: This is a copy of a letter we received from PRB. We have already complied
with the minimum of$100.00.
Longer Investments:
A copy of the Longer Investment Report was given to the Board.
Meeting Adjourned at 11:20 AM.
FIREMEN'S RELIEF AND PENSION
November 2005
THP FOLLOWING ARE THE OBLIGATIONS OF THE FIREMEN'S RELIEF FUND FOR THE
IV 1 OF AUGUST. YOU ARE HEREBY INSTRUCTED TO ISSUE CHECKS TO THE
Ph._LS, IN THE AMOUNTS SHOWN, AND FOR THE PURPOSE SO STATED.
Act 1373
DATE OF Regular Mo Year To Date Future
EMP# RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
79 11/99 ARMSTRONG(DILL), PAMELA 1,759.94 19,359.34 0.00 300.00 100.00 1,359.94
177 4/04 BACHMAN, EDDIE 2,542.28 27,965.08 450.00 479.27 119.82 1,943.19
74 3/86 BAIRD, JULIA 1,749.59 19,245.49 450.00 350.00 145.00 1,254.59
2 3/75 BLACKARD, PAUL 106.09 1,166.99 90.00 106.09
63 5/72 BOLAIN, ANN 106.09 1,166.99 90.00 106.09
68 7/99 BONADUCE, MICHAEL 2,901.71 31,918.81 450.00 475.38 2,426.33
44 9/86 BOUDREY, BETTY MRS. 2,405.26 26,457.86 450.00 300.00 50.00 2,055.26
45 9/86 BOUDREY, HOWARD 2,028.43 22,312.73 450.00 2,028.43
49 7/88 BOUDREY, JACK 1,599.64 17,596.04 450.00 287.68 50.00 1,261.96
4 6/67 CARL, FLOYD JR, (Deceased 2/28/05) 0.00 212.18
5 5/72 CASELMAN, ARTHUR 127.31 1,400.41 90.00 127.31
57 5/90 CATE, ROY 1,736.80 19,104.80 450.00 1,736.80
6 4/68 CHRISTIE, ARNOLD 106.09 1,166.99 90.00 106.09
8 10/76 COUNTS, WAYNE 106.09 1,166.99 90.00 106.09
77 11/99 DILL,GARY JOHN 1,759.95 19,359.45 450.00 100.00 1,659.95
11 2/76 FARRAR,ALONZO 969.77 10,667.47 450.00 969.77
38 5/84 FRALEY, JOSEPH G. 1,716.62 18,882.82 450.00 200.00 15.00 1,501.62
170 5/03 FREEDLE, LARRY 3,705.58 40,761.38 450.00 500.00 100.00 3,105.58
92 03/02 GAGETOMMY 2,521.06 27,731.66 450.00 226.00 50.00 2,245.06
34 6/79 HARRIS, JAMES E. 106.09 1,166.99 90.00 106.09
70 11/99 HARRIS, MARY RUTH 106.09 1,166.99 90.00 106.09
182 10/04 JENKINS, EILEEN 1,736.65 19,103.15 0.00 350.00 100.00 1,286.65
93 06/02 JENKINS, JOHN 1,736.66 19,103.26 450.00 350.00 100.00 1,286.66
86 07/01 JOHNSON,ROBERT 2,983.95 32,823.45 450.00 500.00 100.00 2,383.95
64 4/95 JORDAN, CHARLIE 2,208.69 24,295.59 450.00 2,208:69
76 5/88 JUDY, JAN 1,599.64 17,596.04 450.00 200.00 50.00 1,349.64
37 3/84 KING, ARNOLD D. 1,478.03 16,258.33 450.00 300.00 47.00 1,131.03
54 5/89 KING, ARVIL 1,661.37 18,275.07 450.00 130.00 50.00 1,481.37
12 3/60 LANE, HOPE MRS 106.09 1,166.99 90.00 106.09
13 10/67 LAYER, MERLIN 442.93 4,872.23 450.00 442.93
173 12/03 LEDBETTER, DENNIS 3,665.83 40,324.13 450.00 650.00 200.00 2,815.83
181 10/04 LEE, VIOLA LOUISE 106.09 1,166.99 90.00 106.09
51 10/88 LEWIS, CHARLES 1,599.64 17,596.04 450.00 75.00 25.00 1,499.64
40 9/85 LOGUE, PAUL D. 2,784.74 30,632.14 450.00 325.00 75.00 2,384.74
50 9/88 MASON, LARRY 1,583.74 17,421.14 450.00 137.61 25.00 1,421.13
39 4/85 MC ARTHUR, RONALD A. 1,702.66 18,729.26 450.00 150.00 50.00 1,502.66
35 2/82 MC CHRISTIAN, DWAYNE 106.09 1,166.99 90.00 106.09
15 4/77 MC WHORTER, CHARLES 1,295.64 14,252.04 450.00 150.00 1,145.64
29 8/81 MILLER, DONALD 1,266.09 13,926.99 450.00 125.00 25.00 1,116.09
73 2/00 MILLER,KENNETH 3,087.40 33,961.40 450.00 325.00 75.00 2,687.40
42 2/86 MOORE, JAMES H. 106.09 1,166.99 90.00 106.09
176 4/04 MORRIS, DIXIE E. 122.00 1,342.00 90.00 122.00
62 10/68 MORRISON, ELIENE 132.61 1,458.71 90.00 132.61
48 7/88 MULLENS, DENNIS W. 2,127.48 23,402.28 450.00 2,127.48
184 3/05 NAPIER, LONNIE 3,415.81 23,910.67 450.00 110.00 88.00 3,217.81
46 5/88 OSBURN, TROY 1,844.33 20,287.63 450.00 200.00 38.00 1,606.33
81 02/01 PHILLIPS,LARRY 2,684.55 29,530.05 450.00 2,684.55
53 2/89 POAGE, LARRY 2,278.35 25,061.85 450.00 300.00 100.00 1,878.35
186 06/05 REAGAN, PETE 3,432.73 13,730.92 450.00 3,432.73
22 4/73 REED, JOE 106.09 1,166.99 90.00 106,09
172 12/03 SCHADER, MADGE 1,345.64 14,802.04 450.00 1,345:64
41 9/85 SCHADER, TROY 1,480.57 16,286.27 450.00 57.00 1,423.57
83 03/01 SKELTON, KIMBERLY 2,364.06 26,004.66 450.00 250.00 50.00 2,064.06
66 8/98 SKELTON, PAULINE 413.75 4,551.25 450.00 413.75
82 03/01 SKELTON,KELLY Terminated Benefits 8/31/05 0.00 9,456.24 450.00 0.00 0.00 0.00
36 5/76 SPRINGSTON, CARL 782.71 8,609.81 450.00 70.00 17.00 695.71
90 03/02 STOUT, IMOGENE W. 745.44 8,199.84 450.00 745.44
'165 12/02 TATE, RALPH 3,561.26 39,173.86 450.00 300.00 100.00 3,161.26
65 3/66 TUNE, BILLIE SUE 132.61 1,458.71 90.00 132.61
27 3/71 TUNE, MILDRED MRS. 132.61 1,458.71 90.00 132.61
71 1/00 WARFORD,THOMAS 2,429.83 26,728.13 450.00 300.00 2,129.83
28 7/68 WATTS, DONALD 424.36 4,667.96 450.00 424.36
88 01/02 WOOD,RONNIE D 2,987.52 32,862.72 450.00 800.00 200.00 1,987.52
52 9/88 WRIGHT, RANDALL 1,642.08 18,062.88 450.00 200.00 25.00 1,417.08
DATE OF Regular Mo Year To Date Future
EMP# RETIREMENT NAME Benefit Reg Benefit Supplement Fed Tax St Tax Net
94,004.89 1,006,029.86 21,690.00 9,572.94 , 2,169.82, 82,262.13
DROP DATE DROP EMPLOYEES NEW BENEFITS
01/01/01 DOSS,MARION 5,220.30 450.00
03/01/03 MAHAN, MARSHALL 3,958.53 450.00
03/01/03 PIERCE, JOEY 3,540.95 450.00
03/01/03 SHACKLEFORD, GLEN 3,540.95 450.00
04/01/03 O'NEAL, TEDDY 4,000.96 450.00
05/01/04 FARRAR, DANNY 4,034.33 450.00
WE, THE UNDERSIGNED, DO SOLEMNLY SWEAR THAT THE ABOVE OBLIGATIONS ARE
JUST AND CORRECT; THAT NO PART THEREOF HAS BEEN PREVIOUSLY PAID; THAT
THE PENSION PAYMENTS SO CHARGED ARE IN ACCORDANCE WITH THE ACTIONS OF
THE BOARD OF TRUSTEES OF THE FIREMEN'S RELIEF AND PENSION FUND; THAT
THE SERVICES OR SUPPLIES FURNISHED,AS THE CASE MAY BE,WERE ACTUALLY
RENDERED OR FURNISHED; AND THAT THE CHARGES MADE THEREFORE DO NOT
EXCEED THE AMOUNT ALLOWED BYLAW OR THE CUSTOMARY CHARGE FOR SIMILAR
SERVICES OR SUPPLIES
SECRETARY CHAIRMAN AND PRESIDENT
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
COUNTY OF WASHINGTON)
SWORN TO AND SUBSCRIBED BEFORE ME THIS DAY OF 12005.
NOTARY PUBLIC
MY COMMISSION EXPIRES
YTD
6810-9810-5335-00 721,407.49
6810-9810-5335-06
YTD Column 721,407.49
Difference 0.00
i
i
i
2006 Meeting Schedule
Firemen's Pension and Relief Fund Board of Trustees
Last Thursday of each month
11 :00 a.m.
i
City Administration Room 326
January 26
February 23
March 30
April 27
May 25
June 29
July 27
August 31
September 28
October 26
November 30
December 28
National Conference on Public Employee Retirement Systems
F ;
The Voice for Public Pensions
OFFICERS
RECEIVED
Robert Podgorny o C T o
2005
President October 3, 2005
CITY ' �
Pat McElligott 1lil t
First ice Pres�tlent farm, '+
Mel Aaronson City Clerk
Secontl Vice President
Fayetteville Fire Fighters Pension & Relief
Tina Fazend ne
secretary 113 West Mountain Street,
Richard WOChSman. -
Fayetteville, AR 72701
i'reasurer
NCPERS is committed to continuously enhancing your member services and
EXECUTI1iEB0AR0 providing you wit tlfriely resources ioY2"le your job easier.
Larry Curian
Bosron na Today we announce the launch of our newly created "MEMBERS ONLY" section of
Lawrence Deck our website. By visiting www.NCPERS.org you will now be able to:
Columb- :Q
Daniel Forfuiaa • update your membership record,
cncayo ... . check your organization's membership status,
Keuy Fox • register for NCPERS conferences and much more!
�IVmp�a, Vl/A r -
n G Fugate Y To begin utilizing our MEMBERS OIv'LY area, you will need a login name and
ttakimore, MD password. Your email address (that is on file with NCPERS) is your login name and
Rick Gale
westAuis._:WI you have been assigned a temporary password (listed below). Please note that you
must key in this password exactly as printed below:
;:_ Dan Givens
Miatnr fL ='
eonaid Gracia LOGIN NAME: ssmith@ci.fayetteville.ar.us
oetro,r INr PASSWORD: tymaXU
Kenneth Har�ser -
'Chicago,=1C
: Bill Lundy '�
EYttle Rock Aft
We encoura a •soap to irnim- 3ately log on and change your password to somethilig
Donald Phlhps that is easy and familiar for you to remember. Once you have logged on and changed
Suvariz creek N11 your password, you will be ready to take full advantage of our website.
Will Pryor''
eosangeles; CR If you need assistance or have questions, please email Jennifer at
�ohnRe,lly u date@,NCPERS.org or call 1-877-202-5706.
� Philatleiphia�PA _
rnona>zorr,a�n Thank you for your continued support of NCPERS — The Voice for Public Pensions.
'.New York,'NY
Carol G Stukes
Philadelphia;-:PA
Elmer 1. Khat
President
Freyenck Fi N0sbitt -
Executwe Director
L,egisfarrve Counsel
NCPERS • 444 North Capitol Street NW, Suite 221,Washington, DC 20001 • 202-624-1456 • Fax 202-624-1439 • info@NCPERS.org • www.NCPERS.org
r '
m
The Voice for Public Pensions
i
Ioial Conference on Public Employee Retirement Systems Membership "ReneWl
202-624-1456
1-877-202-5706 Invoice Message:
FAX 202-624-1439
info@NCPERS:org FIRST.NOTICE
www:NCPERS.org _
Please verify your contact information; note any updates in the space provided.
Name: City Clerk
Title: Deputy Clerk
Organization: Fayetteville Fire Fighters Pension& Relief
Address: >. 113 West MountainStieet,
Fayetteville, AR.72701
Phone:, 479-575-8323
Fax: 479-718-7695 NOW AVAILABLE:
Email: ssmith@ci.fayetteville.ar.us PAY YOUR DUES ONLINE!
Please check the appropriate size of yqur.fund: Lo o "
❑ l —4,500 Members
Logon
n to www:NCPERS.or and then click
❑ 4;501 - 10;500 lviemUers on Member Login- ri the top right hand comer
❑ ' 10,50 16;500 1 — Members
of the screen.
0 16,501 and over
Remit to:
NCPERS
IF YOU ARF,NOT PAYING USING;OUR ONLINE PAYMENT OPTION; PO Boz 79819
PLEASE RETURN THIS`PORTION WI H PAYMEN I`IN`FOR PROPERPROCESSING " Baltimore;M16 21279-68-19-
ORGANIZATION NAME MEMBER DUE DATE NCPERS 2006 Annual
NUMBER Tax ID #
Fayetteville Fire Fighters Pension,& Relief Membership $100
2351q 01/01%2006 T316129205 Dues
If you would lI e'to pay by credit card; coinplete'the following information and°fax to 202-624-1439 or mail
to the address above.
OAinerican Express Account #
OMasterCard• Exp Date
Ovsa Card I3older'.s Name: • `
_ .
Billing Address:
Signature:
KEEP THIS PORTION FOR YOUR RECORDS: Membership Renewal Recei t
MEMBER NCPERS
ORGANIZATION NAME.: DUE DATE
;'I�UM$ER `; Tax:ID,# 2006 Annual
Fayetteville Fire Fghters'Pension& Relief Membership $100
2351Q _ 07/0112006, 310729205,
National Conference on Public Employee Retirement Systems
`4 N. Capitol St. NW Suite 221, Washington, DC 20001
The Voice for Public Pensions
10 R . asons, why YOU should renew YOUR membership
)
in CPERS in 2006
# 10 .'Proactive on federal pension issues
Outstanding Research and resources available 24/7
# S Cutting Edge Information on pension issues
# 7 Innovative Pension Education at ttio annual conferences
# 6 Valuable Ideas that are first and first-rate
# 5 Biggest Clearinghouse of ideas, concepts and information
# 4 Watchdog for Social Security and all pension benefits
# 3 Best Trustee Education offered online and at conferences
# 2 Healthcare Advocacy for employees and retirees
# 1 3 Times the Value for 1/3 the Cost!
Great Benerits + Low Cost = Value to YOU
When you renew your NCPERS membership, everyone
gets access to our exclusive benefits!
IIS Legislative Conference 2006 Annual Conferenceand Exhibition
February 6-8, 2006 April 28 — May 4, 2006
Holiday Inn on the Hill Hotel Westin Diplomat Hotel
Washington, DC Hollywood/Fort Lauderdale, Florida
Conference Registration Conference Registration (April 30-May 4)
$200 per fund participant $595 per fund participant
$500 per corporate participant $750 per corporate participant
Trustee Educational Seminar (April 28-29)
$295 per fund participant
Of course we know about public pensions.
We're 65 years old and The Voice for Public Pensions.
RECEIVED
LONGER INVESTMENTS INCORPORATED OCT ? 12005
Registered Investment Advisor CITY OF FAYETTEVILLE
A Re
9 CITY CLERKS OFFICE
October 8, 2005
i
Ms. Sondra Smith
City of Fayetteville Fire Pension & Relief Fund
113 W. Mountain
Fayetteville, Arkansas 72701
Dear Sondra:
Enclosed you will find the 2005 third-quarter reports for the Fayetteville Fire Pension and
Relief Fund account. These reports include a portfolio appraisal, a report of realized
gains/losses, and an income and expense report. As instructed, the account at Northern
Trust will be billed for the management fee.
Our quarterly newsletter, The Longer View, will be mailed later this quarter. I will attend
investment seminars in the coming weeks and want to incorporate the most recent
information into the newsletter. The newsletter will also include a review of the markets
and our outlook for 2006.
This year's stock market activity has been similar to the first three quarters of last year.
The market, as measured by the Dow Jones Industrial Average (DJIA), has been stalled
in a trading range between 10,012 and 10,940 since December 31, 2004, closing the third
quarter at 10,568. Year-to-date returns by the S&P 500 (cash basis), DJIA (cash basis),
and NASDAQ over-the-counter index are 1.4%, -2.0%, and -1.1%, respectively. By
comparison, at the close of the third quarter in 2004, the same returns were 0.2%, -3.6%,
and -5.3%. The entire year's return for 2004 was achieved in the fourth quarter.
This year, both the bond market and the stock market have been struggling with rising
energy prices and interest rates, and the impact of both on economic growth, inflation
rates, consumer spending, and corporate earnings. As we enter the fourth quarter, stocks
are still relatively more attractive than bonds at current levels, but remain under pressure
from rising energy prices and interest rates as well as the macroeconomic risks previouslyf
discussed in this year's newsletters. We will elaborate further in the fourth quarter
newsletter.
P.O.Box 1269
Fayetteville,Arkansas 72702
Telephone:479-443-5851
Toll free: 800-827-7710
r
Fax:479-443-7129
Web site: www.longeTinvcom
Ms. Sondra Smith
October 8, 2005 -
Page Two
In the past several years, Longer Investments has made a contribution in lieu of holiday
gifts to the Salvation Army on behalf of its clients. Following the devastation by
Hurricane Katrina and the tremendous needs of those affected by the storm, we have
decided to make that contribution early, and designate it for the American Red Cross
disaster relief efforts. The support and business provided throughout the year by the Fire
Pension Board make this contribution possible.
Longer Investments appreciates the opportunity to assist with the management of the
Fayetteville Fire Pension and Relief Fund's assets. Please do not hesitate to call if you
have any questions or comments, or if we can be of further service.
Sincerely,
Elaine M. Longer, CFA
President
EML:cmf
Enclosures
City of Fayetteville
Fire Pension and Relief Fund
U/A Dated 06-18-86
THIRD QUARTER REPORTS
September 30, 2005
LiAt LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund UTA DTD 6-18-86
September 30, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
COMMON STOCK
7,415 Allianz Aktiengesell 13.44 99,629.40 13.51 100,176.65 1.0 0.179 1,324.39 13
3,850 American Power 26.28 101,182.24 25.91 99,753.50 1.0 0.400 1,540.00 1.5
Conversion
1,450 Anadarko Petroleum 59.37 86,081.15 95.75 138,837.50 1.4 0.720 1,044.00 1.2
Corp.
2,000 B.P. Amoco PLC A.D.S. 39.64 79,285.00 70.85 141,700.00 1.5 1.870 3,740.00 4.7
2,750 Barclays PLC 39.80 109,462.93 40.78 112,145.00 1.2 1.830 5,032.50 4.6
3,350 Bell South 27.14 90,919.00 26.30 88,105.00 0.9 1.160 3,886.00 4.3
2,750 Caterpillar Inc. 46,46 127,756.70 58.75 161,562.50 1.7 1.000 2,750.00 2.2
2,250 Chevron Corp. 38.26 86,084.01 64.73 145,642.50 1.5 1.800 4,050.00 4.7
5,500 Cisco Systems Inc. 19.55 107,531.60 17.92 98,560.00 1.0 0.000 0.00 0.0
3,500 Citigroup 41.09 143,827.09 45.52 159,320.00 1.7 1.760 6,160.00 4.3
4,000 Citrix Systems 23.79 95,179.60 25.14 100,560.00 1.0 0.000 0.00 0.0
2,500 Danaher Corp. 53.34 133,355.66 53.83 . 134,575.00 1.4 0.080 200.00 0.1
3,000 Ecolab Inc. 28.57 85,702.26 31.93 95,790.00 1.0 0.350 1,050.00 1.2
2,000 Emerson Electric 48.03 96,050.00 71.80 143,600.00 1.5 1.660 3,320.00 3.5
2,350 ExxonMobil 39.55 92,946.26 63.54 149,319.00 1.6 1.160 2,726.00 2.9
5,750 General Electric 24.34 139,982.00 33.67 193,602.50 2.0 0.880 5,060.00 3.6
1,000 Goldman Sachs Group 99.40 99,402.10 121.58 121,580.00 1.3 1.000 1,000.00 1.0
Inc.
3,250 Hain Celestial Group, 19.49 63,335.03 19.40 63,050.00 0.7 0.000 0.00 0.0
Inc.
5,425 Intel Corp. 18.85 102,243.27 24.65 133,726.25 1.4 0.320 1,736.00 1.7
2,650 Intuit Inc. 45.04 119,365.81 44.81 118,746.50 1.2 0.000 0.00 0.0
3,000 Johnson &Johnson 52.08 I56,250.18 63.28 189,840.00 2.0 1.320 3,960.00 2.5
2,000 Kennametal, Inc. 46.21 92,421.10 49.04 98,080.00 1.0 0.760 1,520.00 1.6
4,575 Knight Transportation 24.23 110,845.91 24.36 111,447.00 1.2 0.080 366.00 0.3
Inc.
5,000 Microsoft Corp. 26.45 132,241.53 25.73 128,650.00 1.3 0.320 1,600.00 1.2
5,000 NASDAQ 100 Index 39.65 198,250.00 39.46 197,300.00 2.1 0.413 2,066.70 1.0
1,250 Nike, Inc. 80.24 100,304.88 81.68 102,100.00 1.1 0.800 1,000.00 ' 1.0
2,500 Paychex, Inc. 34.71 86,785.75 37.09 92,725.00 1.0 0.640 1,600.00 1.8
3,600 Pfizer 26.88 96,785.64 24.97 89,892.00 0.9 0.760 2,736.00 2.8
3,030 Qlogic Corp. 34.46 104,401.03 34.20 103,626.00 1.1 0.000 0.00 0.0
4,325 Robert Half International 29.51 127,627.35 35.59 153,926.75 1.6 0.280 1,211.00 0.9
2,125 Sherwin Williams Co. 46.66 99,162.50 44.07 93,648.75 1.0 0.820 1,742.50' 1.8
2,400 Sigma-Aldrich 58.26 139,827.18 64.06 153,744.00 1.6 0.760 1,824.00 1.3
3,500 Standard &Poors 121.43 425,012.00 123.04 430,640.00 4.5 2087 7,303.66 1.7
Depository Receipts
3,650 US Bancorp 30.42 111,020.08 28.08 102,492.00 1.1 1.200 4,380.00 3.9
1,500 Walmart Stores 52.26 78,390.00 43.82 65,730.00 0.7 0.600 900.00 1.1
5,750 Werner Enterprises 16.52 95,009.55 17.29 99,417.50 1.0 0.160 920.00; 1.0
4,213,655.79 4,713,610.90 49.2 77,748.75 2.0
PREFERRED DEBT SECURITIES
2,000 G.E. Preferred 6.10% 25.00 50,000.00 25.46 50,920.00 0.5 1.525 3,050.00 6.1
AAA/AAA(C 11-I5-07)
5,000 G.E. Preferred 6.625% 26.01 130,030.00 25.70 128,500.00 1.3 1.656 8,281.25 6.4
AAA/AAA(C 6-28-07)
1 %
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
I
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
September 30, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
j 3,000 Roch G&E 6.65% 26.30 78,893.10 26.34 79,020.00 0.8 1.663 4,987.50 6.3
AAA/AAA(C 6-20-07)
AMBAC
258,923.10 258,440.00 2.7, 16,318.75 6.3
MUTUAL FUNDS-EQUITY
20,000.0000 iShares MSCI Japan 10.14 202,750.00 12.19 243,800.00 2.5 0.043 860.00 0.4
Index Fund
202,750.00 243,800.00 2.5 860.00 0.4
CORPORATE BONDS
15,000 Gillette Company Notes 99.78 14,967.00 100.04 15,005.67 0.2 5.750 862.50 5.8
Aa3/AA- (NC)
5.750% Due 10-15-05
75,000 Wal-Mart Stores Inc. 98.44 73,831.00 100.06 75,042.68 0.8 5.875 4,406.25 6.0
AA2/AA(NC)
5.875% Due 10-15-05
50,000 Boeing Capital Crp 100.00 50,000.00 100.21 50,103.65 0.5 6.040 3,020.00 6.0
A3/A(NC)
6.040%Due 11-15-05
50,000 NationsBank Corp. 99.79 49,894.00 103.84 51,918.10 0.5 6.375 3,187.50 6.4
Subordinated Notes
AA3/A+ (NC)
6.375%Due 02-15-08
65,000 J.P. Morgan Chase 102.60 66,687.00 105.51 68,584.36 0.7 6.700 4,355.00 6.5
Bank AA3/A+ (NC)
6.700%Due 08-15-08
50,000 Bankers Trust NY Corp 99.26 49,630.00 103.73 51,866.05 0.5 6.000 3,000.00 6.0
Subordinated Notes
A2/A(NC)
6.000%Due 10-15-08
25,000 First Union Corp. 93.78 23,446.00 104.86 26,215.58 0.3 6.000 1,500.00 6.4
Subordinated
Debentures Al/A(NC)
6.000%Due 10-30-08
25,000 Pepsico Incorporated 97.49 24,373.00 103.33 25,833.40 0.3 5.700 1,425.00 5.8
Medium Term Note
Al/A+ (NC)
5.700%Due 11-01-08
50,000 Hershey Foods Corp. 97.63 48,816.00 112.47 56,232.85 0.6 6.950 3,475.00 7.1
Notes AI/A+ (NC)
6.950% Due 08-15-12
50,000 Paribas New York 96.03 48,014.00 112.10 56,049.85 0.6 6.950 3,475.00 7.2
Branch Subordinated
Notes AA3/AA-(NC)
6.950%Due 07-22-13
60,000 Aetna Inc. Debentures 87.48 52,487.00 111.04 66,622.02' 0.7 6.750 4,050.00 7.7
AA3/AA- (NC)
6.750% Due 09-15-13
2
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund UTA DTD 6-18-86
September 30, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
75,000 Merrill Lynch &Co. 99.26 74,442.00 111.72 83,791.27 0.9 6.500 4,875.00 6.5
Inc. Global Bonds
AA3/A+(NC)
6.500%Due 07-15-18
50,000 National City Corp. 96.65 48,326.00 115.62 57,809.90 0.6 6.875 3,437.50 7.1
Sub. Notes A2/A-(NC)
6.875%Due 05-15-19
50,000 IBM Corp. Debentures 100.01 50,004.00 118.91 59,452.55 0.6 7.000 3,500.00 7.0
Al/A+ (Subject to make
whole call)
7.000%Due 10-30-25
50,000 Dell Computer Corp. 95.46 47,731.00 120.67 60,333.20 0.6 7.100 3,550.00 7.4
Debentures A2/A
(Subject to make whole
call)
7.100%Due 04-15-28
Accrued Interest 12,722.90 0.1
722,648.00 817,584.02 8.5 48,118.75 6.7
i
GOVERNMENT BONDS
250,000 U. S. Treasury Note 100.06 250,139.09 99.31 248,281.25 2.6 4.000 10,000.00 4.0
4.000%Due 06-15-09
50,000 U. S. Treasury Bond 100.01 50,004.00 112.38 56,187.50 0.6 5.500 2,750.00 5.5
5.500%Due 08-15-28
50,000 U. S.Treasury Bond 98.95 49,474.00 108.94 54,468.75 0.6 5.250 2,625.00 5.3 -
5.250%Due 11-15-28
300,000 U. S. Treasury Bond 98.03 294,097.66 109.00 327,000.00 3.4 5.250 15,750.00 5.4
5.250%Due 02-15-29
Accrued Interest 6,220.37 0.1
643,714.75 692,157.87 7.2 31,125.00 4.9
GOVERNMENT AGENCY
100,000 Federal Farm Credit 100.00 100,000.00 98.69 98,687.50 1.0 3.580 3,580.00 3.6
Bank (C 6-15-05, 1X)
3.580%Due 06-15-07
250,000 Fed Nat'l Mortgage 100.00 250,000.00 99.34 248,359.38 2.6 4.150 10,375.00 4.2
Assoc (C 7-13-06 @
100, 1X)
4.150% Due 07-13-07
75,000 Federal Home Loan 100.00 75,000.00 98.78 74,085.94 0.8 4.010 3,007.50 4.0
Bank (C 5-24-06, 1X)
4.010%Due 08-24-07
100,000 Federal Home Loan 100.00 100,000.00 97.47 97,468.75 1.0 3.000 3,000.00 3.0
Bank (C 09-07-05, IX)
3.000%Due 09-07-07
185,000 Federal Home Loan 100.00 185,000.00 98.91 182,976.56 1.9 4.000 7,400.00 4.0
Bank (C 6-28-06 @
100, 1X)
4.000% Due 09-28-07
i
3
i
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
it
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
September 30, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
100,000 Federal Home Loan 100.00 100,000.00 99.88 99,875.00 1.0 4.400 4,400.00 4.4
Bank (C 9-28-06 @
100, IX)
4.400%Due 09-28-07
100,000 Federal Farm Credit 100.00 100,000.00 97.09 97,093.75 1.0 3.020 3,020.00 3.0
Bank (C IX 03/24/05)
3.020%Due 12-24-07
75,000 Federal Home Loan 100.00 75,000.00 97.06 72,796.88 0.8 3.300 2,475.00 3.3
Bank (C 1-17-06, IX)
3.300%Due 01-17-08
250,000 Federal Farm Credit 100.00 250,000.00 96.16 240,390.63 2.5 3.080 7,700.00 3.1
Bank (C 1X 04-15-05)
3.080%Due 10-15-08
225,000 Federal Farm Credit 100.00 225,000.00 98.38 221,343.75 2.3 4.000 9,000.00 4.0
Bank (C 10-17-05,
continuously thereafter)
4.000%Due 12-29-08
125,000 Federal Farm Credit 100.00 125,000.00 99.56 124,453.13 1.3 4.350 5,437.50 4.4
Bank (NC)
4.350%Due 06-01-09
225,000 Federal Home Loan 100.00 225,000.00 97.53 219,445.31 2.3 4.000 9,000.00 4.0
Bank (C 10-17-05,
continuously thereafter)
4.000%Due 04-01-10
200,000 Federal Home Loan 100.00 200,000.00 98.09 196,187.50 2.0 4.200 8,400.00 4.2
Bank (C 10-17-05,
continuously thereafter)
4.200%Due 05-20-10
50,000 Tennessee Valley 98.95 49,474.00 104.93 52,462.95 0.5 5.625 2,812.50 5.7
Authority(NC)
5.625%Due 01-18-11
150,000 Federal Farm Credit 100.00 150,000.00 97.34 146,015.63 1.5 4.150 6,225.00 4.2
Bank (Call 04-07-06,
continuously thereafter)
4.150%Due 04-07-11
55,556 Federal Home Loan 100.00 55,555.56 99.00 55,000.00 0.6 5.080 2,822.22 5.1
Bank (C 10-17-05,
continuously thereafter)
5.080%Due 10-03-12
250,000 Federal Home Loan 100.00 250,000.00 100.00 250,000.00 2.6 5.000 12,500.00 5.0
Bank (C 10-5-07 @
100, continuously
thereafter)
5.000%Due 10-05-12
75,000 Federal Home Loan 100.00 75,000.00 99.94 74,953.13 0.8 5.375 4,031.25 5.4
Bank (C 11-7-05, cc)
5.375%Due 11-07-13
4
® LONGER INVESTMENTS INCORPORATED
.I
A Registered Investment Advisor
Longer Investments Inc.
PORTFOLIO APPRAISAL
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
September 30, 2005
Unit Total Market Pct. Unit Annual Cur.
Quantity Security Cost Cost Price Value Assets Income Income Yield
125,000 Federal Farm Credit 100.00 125,000.00 98.19 122,734.38 1.3 5.300 6,625.00 5.3
Bank (C 6-22-07 @
100, continuously
thereafter)
5.300%Due 06-22-15
Accrued Interest 30,431.54 0.3
2,715,029.56 2,704,761.68 28.2 111,810.97 4.1
GNMA
7,414.13 GNMA 5.0% Pool# 99.96 7,411.28 98.33 7,290.31 0.1 5.000 370.71 5.0
GNR 2003-40 AE
5.000%Due 05-20-33
Accrued Interest 29.86 0.0
7,411.28 7,320.18 0.1 370.71 5.0
CASH AND EQUIVALENTS
Dividends Accrued 2,982.50 2,982.50 0.0 0.000 0.00 0.0
Money Market 53,350.18 53,350.18 0.6 2.840 1,515.15 2.8
56,332.68 56,332.68 0.6 1,515.15 2.7
CERTIFICATE OF DEPOSIT
50,000 MBNA America Bank 100.00 50,000.00 100.39 50,192.80 0.5 6.550 3,275.00 6.6
Newark, DE A3/NR
(NC)FDIC-Insured
6.550%Due 12-20-05
40,000 Capital One Bank FSB 100.00 40,000.00 100.60 40,241.12 0.4 4.900 1,960.00 4.9
Falls Church, VA
BAAI/NR (NC)
FDIC-Insured
4.900%Due 02-20-07
Accrued Interest 1,127.50 0.0
90,000.00 91,561.42 1.0 5,235.00 5.8
WARRANTS
144 Lucent Warrants (Expire 1.59 228.96 0.95 136.80 0.0 0.000 0.00 0.0
12/10/2007)
228.96 136.80 0.0 0.00 0.0
TOTAL PORTFOLIO 8,910,694.12 9,585,705.56 100.0 293,103.08 3.3
5 '
® LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
REALIZED GAINS AND LOSSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Gain Or Loss
Open Close Cost
Date Date Quantity Security Basis Proceeds Short Term Long Term
06-30-04 01-06-05 2,000 MeadWestvaco 58,120.00 65,015.67 6,895.67
09-07-04 01-06-05 700 Lockheed-Martin Corp. 38,550.00 38,176.68 -373.32
09-08-04 01-06-05 300 Lockheed-Martin Corp. 16,416.00 16,361.44 -54.56
09-08-04 01-07-05 650 Lockheed-Martin Corp. 35,568.00 35,280.66 -287.34
10-26-04 01-07-05 350 Lockheed-Martin Corp. 19,002.50 18,997.55 -4.95
11-01-02 01-11-05 1,000 G.E. Preferred 6.10% 25,000.00 26,026.14 1,026.14
AAA/AAA(C 11-15-07)
11-06-02 01-11-05 3,000.0000 American Strategic Income 36,477.90 35,669.71 -808.19
Portfolio III
10-05-04 01-11-05 1,000 Nanogen Inc. 4,505.30 6,028.29 1,522.99
05-14-03 01-11-05 350 Genuine Parts 11,510.43 14,961.03 3,450.60
12-08-03 01-11-05 400 Genuine Parts 12,957.46 17,098.31 4,140.85
08-27-04 01-13-05 1,000 Aluminum Co. of America 32,839.10 29,591.62 -3,247.48
12-02-04 01-19-05 2,000 Minnesota Mining&Mfg. 160,843.80 164,820.17 3,976.37
12-02-04 01-20-05 350 International Paper Co. 14,886.50 13,800.04 -1,086.46
11-17-04 01-20-05 2,500 International Paper Co. 102,650.00 98,571.75 4,078.25
07-26-04 01-20-05 14,646.54 GNMA 6.0%Pool# GNR 14,646.54 14,646.54 0.00
2004-44 EC
6.000%Due 07-20-34
07-09-03 01-26-05 475 Devon Energy Corp. 12,280.01 19,009.55 6,729.54
08-27-04 01-27-05 750 Aluminum Co. of America 24,629.33 21,771.78 -2,857.55
12-08-03 01-27-05 25 Genuine Parts 809.84 1,045.79 235.95
01-15-03 01-27-05 725 Genuine Parts 22,620.00 30,327.77 7,707.77
10-26-04 01-27-05 1,250 Illinois Tool Works 112,072.75 107,633.08 -4,439.67
09-24-04 01-27-05 775 Union Pacific Corp. 45,973.00 45,694.12 -278.88
09-08-04 01-27-05 1,725 Union Pacific Corp. 101,205.75 101,706.27 500.52
08-27-04 01-31-05 250 Aluminum Co. of America 8,209.78 7,282.25 -927.53
10-05-04 01-31-05 4,000 Nanogen Inc. 18,021.20 20,202.92 2,181.72
11-12-04 01-31-05 7,500 Schwab Corporation 77,940.75 84,013.71 6,072.96
01-12-05 01-31-05 340 Standard &Poors Depository 40,187.00 40,038.52 -148.48
Receipts
08-27-04 02-02-05 1,000 Aluminum Co. of America 32,839.10 29,244.03 -3,595.07
08-03-04 02-02-05 1,250 SBC Communications 32,357.00 30,349.00 -2,008.00
08-18-04 02-02-05 1,250 SBC Communications 31,898.38 30,349.00 -1,549.38
11-25-03 02-02-05 2,000 SBC Communications 46,940.00 48,558.39 1,618.39
I1-28-03 02-02-05 500 SBC Communications 11,645.00 12,139.60 494.60
09-15-04 02-02-05 300 Caterpillar Inc. 22,437.86 27,342.96 4,905.10
10-05-04 02-10-05 2,500 Nanogen Inc. 11,263.25 11,572.61 309.36
11-12-04 02-10-05 2,500 Nanogen Inc. 10,431.00 11,572.61 1,141.61
10-14-03 02-10-05 750 Kennametal, Inc. 30,309.68 36,662.84 6,353.16
12-03-04 02-11-05 500 Flowserve Corp. 13,281.35 12,094.15 -1,187.20
12-02-04 02-11-05 3,000 Flowserve Corp. 78,210.00 72,564.90 -5,645.10
01-15-03 02-11-05 500 Genuine Parts 15,600.00 21,905.07 6,305.07
12-02-04 02-11-0 500 Herley Industries 10,276.65 9,554.68 -721.97
10-14-03 02-14-05 475 Kennametal, Inc. 19,196.13 23,278.51 4,082.38
12-29-03 02-14-05 375 Kennametal, Inc. 15,050.00 18,377.77 3,327.77
12-23-03 02-14-05 400 Kennametal, Inc. 16,043.40 19,602.95 3,559.55
10-30-03 02-14-05 500 Kennametal, Inc. 18,525.00 24,503.69 5,978.69
02-25-02 02-15-05 50,000 Bank America Corp AA3/A+ 50,000.00 50,000.00 0.00
Mthly. Pay(C 2-15-05
@100, monthly thereafter)
6.250%Due 02-15-17
1
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
REALIZED GAINS AND LOSSES.
Fayetteville Fire Pension and Relief Fund U/A DTD 6-I8-86
From 01-01-05 Through 09-30-05
Gain Or Loss
Open Close Cost
Date Date Quantity Security Basis Proceeds Short Term Long Term
08-23-04 02-15-05 1,250 Dover Corp. 48,622.25 48,225.29 -396.96
12-02-04 02-15-05 750 Herley Industries 15,414.98 14,076.43 -1,338.55
08-23-04 02-16-05 750 Dover Corp. 29;173.35 28,985.49 -187.86
12-02-04 02-16-05 1,000 Herley Industries 20,553.30 18,452.29 -2,101.01
01-15-03 02-17-05 775 Genuine Parts 24,180.00 33,840.19 9,660.19
03-24-03 02-17-05 225 Genuine Parts 6,839.83 9,824.57 2,984.74
12-02-04 02-17-05 250 Herley Industries 5,138.33 4,712.19 -426.14
12-03-04 02-17-05 600 Herley Industries 12,304.08 11,309.27 -994.81
12-03-04 02-18-05 1,150 Herley Industries 23,582.82 21,365.60 -2,217.22
12-18-03 02-18-05 500 Walgreen Company 17,790.00 21,314.29 3,524.29
01-05-04 02-18-05 350 Walgreen Company 12,188.00 14,920.01 2,732.01
04-26-04 02-18-05 150 Walgreen Company 5,050.50 6,394.29 1,343.79
03-31-04 02-22-05 550 B.P. Amoco PLC A.D.S. 28,045.00 35,055.34 7,010.34
09-15-04 02-22-05 50 Caterpillar Inc. 3,739.64 4,496.35 756.71
08-25-04 02-22-05 1,350 Caterpillar Inc. 98,767.49 121,401.50 22,634.01
08-23-04 02-22-05 250 Dover Corp. 9,724.45 9,332.79 -391.66
09-08-04 02-22-05 1,000 Dover Corp. 38,570.00 37,331.05 -1,238.95
07-16-04 02-22-05 500 Kerr McGee Corp. 26,580.00 37,001.18 10,421.18
01-09-04 02-22-05 500 Kerr McGee Corp. 25,110.00 37,001.18 11,891.18
07-26-04 02-22-05 24,163.74 GNMA 6.0%Pool# GNR 24,163.74 24,163.74 0.00
2004-44 EC
6.000%Due 07-20-34
10-03-02 02-23-05 150,000 Federal Farm Credit Banks 150,000.00 150,000.00 0.00
(C 2-23-05 @ 100,
continuously thereafter)
5.000%Due 10-15-12
04-26-04 02-23-05 600 Walgreen Company 20,202.00 25,025.17 4,823.17
04-20-04 02-23-05 150 Walgreen Company 5,039.00 6,256.29 1,217.29
10-09-03 02-23-05 500 Walgreen Company 16,509.40 20,854.32 4,344.92
12-16-04 02-24-05 1,125 Par Pharmaceutical 46,979.33 41,990.70 -4,988.63
01-06-05 03-01-05 2,500 Baxter Intl 88,120.75 87,883.10 -237.65
11-01-02 03-01-05 2,000 G.E. Preferred 6.10% 50,000.00 50,958.31 958.31
AAA/AAA(C 11-15-07)
12-15-04 03-01-05 , 550 Kraft Foods Inc. 19,740.00 18,417.96 -1,322.04
11-12-04 03-01-05 2,750 Kraft Foods Inc. 96,030.00 92,089.78 -3,940.22
12-16-04 03-01-05 750 Par Pharmaceutical 31,319.55 28,296.56 -3,022.99
02-22-05 03-01-05 750 Par Pharmaceutical 29,490.08 28,296.57 -1,193.51
02-08-05 03-04-05 250,000 U. S. Treasury Note 3.32% 249,062.50 247,918.75 -1,143.75
YTM
3.125%Due 01-31-07
01-07-05 03-14-05 500 Software Holders Trust 19,210.00 17,605.76 -1,604.24
01-07-05 03-15-05 500 Software Holders Trust 19,210.00 17,440.42 -1,769.58
10-04-04 03-16-05 1,500 Amsouth Bancorp 37,747.05 37,623.85 -123.20
03-16-05 03-17-05 400 Amer International Group 25,262.00 24,371.20 -890.80
03-15-05 03-17-05 1,250 Amer International Group 77,462.50 76,159.98 -1,302.52
10-04-04 03-17-05 1,600 Amsouth Bancorp 40,263.52 40,190.67 -72.85
10-01-04 03-17-05 900 Amsouth Bancorp 22,338.00 22,607.25 269.25
09-23-03 03-21-05 150 L-3 Communications_ 6,807.00 10,865.43 4,058.43
Holdings Inc.
04-23-03 03-21-05 450 L-3 Communications 20,304.50 32,596.30 12,291.80
Holdings Inc.
2
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
REALIZED GAINS AND LOSSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Open Close Cost Gain Or Loss
Date Date Quantity Security Basis Proceeds Short Term Long Term
11-04-02 03-21-05 465 L-3 Communications 20,975.00 33,682.84 12,707.84
Holdings Inc.
01-28-03 03-21-05 175 L-3 Communications 7,361.50 12,676.34 5,314.84
Holdings Inc.
04-16-03 03-21-05 260 L-3 Communications 10,154.17 18,833.41 8,679.24
Holdings Inc.
01-07-05 03-21-05 1,000 Software Holders Trust 38,420.00 34,478.86 -3,941.14
07-26-04 03-21-05 28,075.62 GNMA 6.0% Pool# GNR 28,075.62 28,075.62 0.00
2004-44 EC
6.000% Due 07-20-34
05-15-03 03-21-05 4,440.78 GNMA 5.0%Pool# GNR 4,424.19 4,440.78 16.59
2003-40 AE
5.000%Due 05-20-33
10-09-03 03-28-05 750 Walgreen Company 24,764.10 33,876.38 9,112.28
06-04-03 03-31-05 500 Biomet, Inc. 14,467.45 17,956.60 3,489.15
06-04-03 04-01-05 1,500 Biomet, Inc. 43,402.35 52,787.29 9,384.94
07-07-03 04-01-05 750 Biomet, Inc. 21,585.00 26,393.64 4,808.64
03-01-05 04-01-05 5,000 Semiconductor Holders Trust 173,252.00 159,643.31 -13,608.69
02-07-05 04-06-05 1,500 Forest Labs, Inc. 62,814.15 51,993.97 -10,820.18
02-17-05 04-07-05 250,000 U. S. Treasury Note 250,742.19 249,492.19 -1,250.00
3.500%Due 11-15-06
02-07-05 04-07-05 1,250 Forest Labs, Inc. 52,345.13 41,460.64 -10,884.49
04-05-05 04-07-05 500 Forest Labs, Inc. 18,960.00 16,584.25 -2,375.75
02-28-05 0445-05 -20 Kerr McGee Corp. April 75 6,083.00 8,099.73 2,016.73
Calls
12-15-04 0445-05 350 Clorox Co. 20,253.38 22,520.55 2,267.17
03-01-05 04-15-05 4,750 Celestica Inc. 62,844.88- 52,790.70 -10,054.18
01-09-04 04-15-05 500 Kerr McGee Corp. 25,110.00 38,798.37 13,688.37
10-05-04 04-15-05 500 Intl Business Machines 43,911.40 38,358.74 -5,552.66
03-01-05 04-19-05 2,000 Celestica Inc. 26,461.00 22,659.04 -3,801.96
10-05-04 04-20-05— 500 Intl Business Machines 43,911.40 36,973.45 6,937.95
03-01-05 04-20-05 4,750 NASDAQ 100 Index 178,505.00 164,153.12 -14,351.88
04-04-05 04-20-05 5,000 NASDAQ 100 Index 182,600.00 172,792.76 -9,807.24
03-23-05 04-20-05 2,250 NASDAQ 100 Index 81,895.73 77,756.74 -4,138.99
07-26-04 04-20-05 30,794.14 GNMA 6.0%Pool#GNR 30,794.14 30,794.14 0.00
2004-44 EC
6.000% Due 07-20-34
0545-03 04-20-05 6,134.99 GNMA 5.0%Pool# GNR 6,112.07 6,134.99 22.92
2003-40 AE
5.000%Due 05-20-33
10-05-04 04-22-05 500 Int'I Business Machines 43,911.40' 37,158.44 -6,752.96
02-23-05 04-25-05 275,000 U. S. Treasury Note 275,515.63 274,570.31 -945.32
3.500%Due 11-15-06
02-23-05 05-02-05 225,000 U. S. Treasury Note 225,421.88 224,789.06 -632.82
3.500%Due 11-15-06
11-22-02 05-02-05 225,000 U. S. Treasury Note 225,632.82 222,996.09 -2,636.73
3.250%Due 08-15-07
04-22-05 05-04-05 2,500 NASDAQ 100 Index 88,502.50 88,996.27 493.77
12-27-04 05-04-05 500 Cephalon Inc. 25,381.65 21,900.43 -3,481.22
12-16-04 05-04-05 250 Cephalon Inc. 12,164.10 10,950.22 -1,213.88
01-20-05 05-09-05 2,000 Colgate Palmolive 100,278.00 97,775.90 -2,502.10
12-16-04 05-10-05 1,500 Cephalon Inc. 72,984.60 67,942.35 -5,042.25
3
LONGER INVESTMENTS INCORPORATED
Ah
A Registered Investment Advisor
Longer Investments Inc.
REALIZED GAINS AND LOSSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Gain Or Loss
Open Close Cost
Date Date Quantity Security Basis Proceeds Short Term Long Term
04-22-05 05-10-05 585 Standard &Poors Depository 67,771.49 68,165.16 393.67
Receipts
04-07-04 05-11-05 500 Kerr McGee Corp. 24,350.45 38,848.37 14,497.92
03-01-05 05-13-05 1,500 Stora Enso Oyj 23,055.30 19,214.49 -3,840.81
03-01-05 05-16-05 3,500 Stora Enso Oyj 53,795.70 45,098.40 -8,697.30
04-07-05 05-18-05 1,000 Pharmaceutical Holders Trust 73,206.80 75,306.84 2,100.04
03-04-05 05-19-05 2,000 Claire's Stores 46,576.00 46,282.86 -293.14
02-10-05 05-19-05 3,000 Claire's Stores 67,219.50 69,424.28 2,204.78
07-26-04 05-20-05 27,151.57 GNMA 6.0%Pool# GNR 27,151.57 27,151.57 0.00
2004-44 EC
6.000%Due 07-20-34
05-15-03 05-20-05 5,685.08 GNMA 5.0%Pool# GNR 5,663.89 5,685.08 21.19
2003-40 AE
5.000%Due 05-20-33
02-28-05 05-26-05 3,500 Dollar General Corp. 74,234.65 68,967.75 -5,266.90
04-22-05 05-27-05 2,050 Standard & Poors Depository 237,489.84 245,661.93 8,172.09
Receipts
04-21-04 05-27-05 275 Medtronic, Inc. 14,102.00 14,651.39 549.39
09-29-04 05-27-05 500 Medtronic, Inc. 25,515.00 26,638.88 1,123.88
12-05-03 05-27-05 225 Medtronic, Inc. 10,528.86 11,987.50 1,458.64
10-17-02 05-27-05 900 Medtronic, Inc. 40,571.10 47,949.99 7,378.89
05-18-98 05-27-05 600 Medtronic, Inc. 15,359.00 31,966.66 16,607.66
04-22-05 05-31-05 115 Standard & Poors Depository 13,322.60 13,747.67 425.07
Receipts
05-01-05 05-31-05 1,385 Standard &Poors Depository 159,781.49 165,569.82 5,788.33
Receipts
05-26-05 05-31-05 2,500 NASDAQ 100 Index 95,627.50 94,998.77 -628.73
04-22-05 05-31-05 5,000 NASDAQ 100 Index 177,005.00 189,997.54 12,992.54
05-04-05 06-10-05 450 Ingersoll-Rand 35,062.75 33,303.96 -1,758.79
05-02-05 06-10-05 1,300 Ingersoll-Rand 100,220.25 96,211.45 -4,008.80
12-14-04 06-16-05 250,000 Federal Farm Credit Bank (C 250,000.00 246,975.00 -3,025.00
9-29-05, 1X)
3.170%Due 09-29-06
04-07-04 06-17-05 1,000 Kerr McGee Corp. 48,700.90 75,841.22 27,140.32
03-07-05 06-20-05 2,250 Flextronics 31,452.75 30,171.23 -1,281.52
06-06-05 06-20-05 750 Standard & Poors Depository 90,057.38 91,080.02 1,022.65
Receipts
05-15-03 06-20-05 6,976.02 GNMA 5.0%Pool# GNR 6,952.92 6,976.02 23.10
2003-40 AE
5.000%Due 05-20-33
07-26-04 06-20-05 25,168.39 GNMA 6.0% Pool# GNR 25,168.39 25,168.39 0.00
2004-44 EC
6.000%Due 07-20-34
05-18-05 06-23-05 945 Minnesota Mining& Mfg. 73,930.28 72,223.32 -1,706.96
05-16-05 06-23-05 700 Minnesota Mining & Mfg. 53,327.56 53,498.76 171.20
10-09-03 06-27-05 1,250 Walgreen Company 41,273.50 56,920.11 15,646.61'
06-06-05 06-28-05 750 Standard & Poors Depository 90,057.38 89,809.49 -247.89
Receipts
05-09-05 06-28-05 1,490 FedEx Corporation 130,915.42 120,466.96 -10,448.46
11-24-95 07-01-05 30,000 Exxon Capital Corp.Notes 29,917.00 30,000.00 83.00
Aaa/AAA(NC)
6.000%Due 07-01-05
i
i
I'
4
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
f
Longer Investments Inc.'
REALIZED GAINS AND LOSSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-I8-86
From 01-01-05 Through 09-30-05
I
Open Close Cost Gain Or Loss
Date Date Quantity Security Basis Proceeds Short Term Long Term
06-02-05 07-05-05 3,250 NASDAQ 100 Index 125,255.00 120,013.90 5,241.10
06-06-05 07-05-05 1,000 NASDAQ 100 Index 38,130.00 36,927.35 -1,202.65
03-07-05 07-05-05 3,250 Flextronics 45,431.75 42,348.31 -3,083.44
03-16-05 07-05-05 750 Flextronics 9,061.43 9,772.69 711.26
11-12-04 07-05-05 1,000 Baldor Electric Co. 25,699.40 25,077.55 -621.85
11-11-04 07-05-05 3,000 Baldor Electric Co. 76,858.20 75,232.64 -1,625.56
06-06-05 07-06-05 2,000 NASDAQ 100 Index 76,260.00 73,981.70 -2,278.30
06-02-05 07-07-05 250 Weyerhaeuser 16,180.78 15,822.91 -357.87
04-21-05 07-07-05 1,500 Weyerhaeuser 96,320.25 94,937.48 -1,382.77
01-19-05 07-13-05 500 Sara Lee Corp. 12,245.00 9,790.89 -2,454.11
12-15-04 07-13-05 3,250 Sara Lee Corp. 79,202.50 63,640.77 -15,561.73
12-17-04 07-13-05 500 Sara Lee Corp. 12,035.00 9,790.89 -2,244.11
04-18-05 07-13-05 500 Sara Lee Corp. 10,852.65 9,790.89 -1,061.76
04-20-04 07-19-05 2,300 Abbott Labs 95,102.93 106,791.19 11,688.26
03-24-05 07-20-05 500 Medicis Pharmaceutical Corp. 14,679.35 16,131.92 1,452.57
05-15-03 07-20-05 6,805.23 GNMA 5.0% Pool# GNR 6,782.70 6,805.23 22.53
2003-40 AE
5.000%Due 05-20-33
04-07-05 07-21-05 1,000 Pharmaceutical Holders Trust 73,206.80 72,656.95 -549.85
04-05-05 07-21-05 500 Pharmaceutical Holders Trust 36,440.00 36,328.48 -111.52
04-19-05 07-22-05 1,500 Allergan Inc. 109,752.60 128,427.47 18,674.87
04-05-05 07-25-05 750 Pharmaceutical Holders Trust 54,660.00 54,109.93 -550.07
07-24-00 07-28-05 50,000 American National Bank & 50,000.00 50,000.00 0.00
Trust Chicago, IL AA2/NR
(NC)FDIC-Insured
7.050%Due 08-02-05
06-02-05 07-28-05 250 Hewlett-Packard 5,695.00 6,100.14 405.14
04-22-05 07-28-05 3,500 Hewlett-Packard 73,290.00 85,402.02 12,112.02
04-26-05 07-28-05 500 Hewlett-Packard 10,330.00 12,200.29 1,870.29
06-29-05 08-02-05 3,000 Masco Corp. 96,469.20 96,483.75 14.55
04-29-05 08-05-05 250 Clorox Co. 15,787.50 14,345.45 -1,442.05
12-15-04 08-05-05 1,500 Clorox Co. 86,800.20 86,072.69 727.51
05-10-05 08-08-05 400 Regional Bank Holders Trust 53,728.00 53,851.74 123.74
05-10-05 08-09-05 575 Regional Bank Holders Trust 77,234.00 78,058.73 824.73
01-19-05 08-09-05 750 Bank of America Corp. 33,982.73 32,056.88 -1,925.85
10-21-04 08-09-05 1,250 Bank of America Corp. 55,325.00 53,428.14 -1,896.86
07-28-05 08-11-05 500 Dollar General Corp. 10,210.00 9,444.60 -765.40
05-10-05 08-11-05 415 Regional Bank Holders Trust 55,742.80 56,097.15 354.35
05-24-05 08-11-05 500 Cisco Systems Inc. 9,978.10 8,949.62 -1,028.48
10-21-04 08-11-05 1,325 Bank of America Corp. 58,644.50 56,473.77 -2,170.73
03-04-05 08-16-05 1,500 Deere & Co. 107,606.70 99,341.30 -8,265.40
04-22-05 08-16-05 250 Deere& Co. 16,253.78 16,556.88 303.10
07-09-03 08-17-05 500 Devon Energy Corp. 12,926.32 27,821.28 14,894.96
03-24-05 08-19-05 625 Medicis Pharmaceutical Corp. 18,349.19 21,817.83 3,468.64
04-18-05 08-19-05 500 Pfizer 13,840.00 12,944.45 -895.55
04-21-05 08-19-05 750 Pfizer 20,286.68 19,416.68 -870.00 `
04-05-05 08-19-05 400 Pfizer 10,753.96 10,355.57 -398.39
06-24-05 0849-05 500 Chevron Corp. 28,850.00 29,978.74 1,128.74
04-15-05 08-19-05 250 Chevron Corp. 13,242.25 14,989.37 1,747.12
01-06-03 08-19-05 2,000 Dell Computer Corporation 57,038.00 73,079.94 16,041.94
11-05-04 08-19-05 10 Walmart Stores 566.98 465.06 -101.92
10-27-04 08-19-05 1,340 Walmart Stores 72,118.80 62,318.25 -9,800.55
5
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
REALIZED GAINS AND LOSSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Gain Or Loss
Open Close Cost
Date Date Quantity Security Basis Proceeds Short Term Long Term
05-15-03 08-22-05 7,374.57 GNMA 5.0%Pool# GNR 7,356.35 7,374.57 18.22
2003-40 AE
5.000%Due 05-20-33
08-22-05 08-24-05 3,250 Symantec Corp. 68,997.50 66,174.70 -2,822.80
05-10-05 08-25-05 335 Regional Bank Holders Trust 44,997.20 44,956.43 -40.77
10-08-99 08-25-05 250 Walmart Stores 13,190.83 11,359.52 -1,831.31
12-15-03 08-25-05 250 Walmart Stores 13,070.00 11,359.52 -1,710.48
03-24-05 08-25-05 1,450 Medicis Pharmaceutical Corp. 42,570.11 49,541.81 6,971.70
04-21-05 08-25-05 300 Medicis Pharmaceutical Corp. 8,705.00 10,250.03 1,545.03
07-09-03 08-25-05 610 Devon Energy Corp. 15,770.12 35,640.81 19,870.69
07-25-03 08-25-05 890 Devon Energy Corp. 21,383.30 52,000.52 30,617.22
08-17-05 08-25-05 2,750 Home Depot 112,223.65 109,655.50 -2,568.15
07-28-05 08-25-05 4,000 Dollar General Corp. 81,680.00 76,116.80 -5,563.20
06-02-05 08-25-05 1,575 Wells Fargo & Company 97,272.00 93,724.32 -3,547.68
11-06-02 08-25-05 1,500 Pan Pacific Retail 50,514.26 98,829.66 48,315.41
08-11-05 08-30-05 2,200 Morgan Stanley 118,487.82 111,567.66 -6,920.16
07-20-05 09-06-05 1,650 The Technology Sel Sec 34,633.17 34,343.31 -289.86
SPDR Fund
07-11-05 09-06-05 6,500 The Technology Sel Sec 134,160.00 135,291.82 1,131.82
SPDR Fund
07-13-05 09-14-05 2,250 Biomet, Inc. 80,170.88 81,629.51 1,458.63
08-09-05 09-14-05 1,000 Illinois Tool Works 86,220.00 82,183.26 -4,036.74
09-08-05 09-14-05 250 Illinois Tool Works 21,250.00 20,545.82 -704.18
09-08-05 09-19-05 1,500 FedEx Corporation 120,270.00 118,152.00 -2,118.00
07-19-05 09-20-05 2,525 Estee Lauder 95,406.12 91,985.68 -3,420.44
05-15-03 09-20-05 5,169.20 GNMA 5.0% Pool# GNR 5,156.43 5,169.20 12.77
2003-40 AE
5.000%Due 05-20-33
06-24-05 09-23-05 250 Goldman Sachs Group Inc. 25,797.50 29,708.26 3,910.76
06-10-05 09-23-05 250 Goldman Sachs Group Inc. 24,850.53 29,708.25 4,857.72
12-27-04 09-23-05 1,400 Oracle Systems 19,264.00 17,250.21 -2,013.79
12-20-04 09-23-05 1,600 Oracle Systems 21,888.00 19,714.53 -2,173.47
12-07-04 09-23-05 500 Oracle Systems 6,785.00 6,160.79 -624.21
02-08-05 09-26-05 4,500 Applied Materials Inc. 76,500.00 76,251.55 -248.45
02-10-05 09-26-05 1,500 Applied Materials Inc. 25,133.70 25,417.18 283.48
12-07-04 09-26-05 5,500 Oracle Systems 74,635.00 67,922.14 -6,712.86
07-08-05 09-26-05 750 Oracle Systems 10,177.50 9,262.11 -915.39
07-21-05 09-26-05 500 Sherwin Williams Co. 24,315.90 22,089.07 -2,226.83
06-22-05 09-26-05 875 Sherwin Williams Co. 41,177.50 38,655.88 -2,521.62
TOTAL GAINS 178,504.22 399,569.87
TOTAL LOSSES -340,780.24 -6,986.71
11,573,458.67 11,803,765.81 -162,276.02 392,583.15
TOTAL REALIZED GAIN/LOSS 230,307.14
NO CAPITAL GAINS DISTRIBUTIONS
This realized gain/loss report has been prepared using cost basis and acquisition date information provided by third parties. While every effort has been made to verify the
accuracy of this information, it is not possible to unconditionally confirm that it is correct. Longer Investments Inc. can only attest to the accuracy of transactions that were
executed under its direction.
6
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
i
i
i
! Longer Investments Inc.
INCOME AND EXPENSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Security
Ex-Date"'Pay-Date Amount
COMMON STOCK
Abbott Labs
01-12-05 02-15-05 598.00
04713-05 05-15-05 632.50
07-13-05 08-15-05 632.50
1,863.00
Allergan Inc.
05-11-05 06-08-05 150.00
Aluminum Co. of America
02-25-05 02-25-05 150.00
Amsouth Bancorp
03-15-05 04-01-05 1,000.00
Anadarko Petroleum Corp.
03-07-05 03-23-05 261.00
06-06-05 06-22-05 261.00
09-12-05 09-28-05 261.00
783.00
Applied Materials Inc.
05-16-05 06-08-05 180.00
08-15-05 09-07-05 180.00
360.00
B.P. Amoco PLC A.D.S.
02-16-05 03-14-05 1,300.50
05-11-05 06-06-05 1,020.00
08-10-05 09-06-05 1,071.00
3,391.50
Baldor Electric Co.
03-08.05 03-31-05 600.00
06-07-05 06-30-05 600.00
1,200.00
Bank of America Corp.
03-02-05 03-25-05 1,496.25
I
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
INCOME AND EXPENSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Security
Ex-Date Pay-Date Amount
06-01-05 06-24-05 1,496.25
2,992.50
Caterpillar Inc.
01-18-05 02-19-05 697.00
07-20-05 08-19-05 500.00
1,197.00
Chevron Corp.
02-14-05 03-10-05 800.00'
05-17-05 06-10-05 1,125.00
08-17-05 09-12-05 1,350.00
3,275.00
Citigroup
02-03-05 02-25-05 1,540.00
04-28-05 05-27-05 1,540.00
07-28-05 08-26-051,540.00
4,620.00
Claire's Stores
03-10-05 03-24-05 500.00
Clorox Co.
01-27-05 02-15-05 518.00
04-26-05 05-13-05 420.00
07-27-05 08-15-05 490.00
1,428.00
Colgate Palmolive
01-24-05 02-15-05 480.00
04-22-05 05-13-05 580.00
1,060.00
Danaher Corp.
09-28-05 10-28-05 50.00
Deere & Co.
03-29-05 05-02-05 465.00
2
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments.Inc.
INCOME AND EXPENSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Security
Ex-Date Pay-Date Amount
06-28-05 08-01-05 542.50
1,007.50
Devon Energy Corp.
03-11-05 03-31-05 150.00
06-13-05 06-30-05 150.00
300.00
Dollar General Corp.
03-29-05 04-14-05 140.00
Ecolab Inc.
03-11-05 04-15-0 262.50=
06-17-05 07-15-05 262.50"
09-16-05 10-17-05 262.50
787.50
Emerson Electric
02-09-05 03-10-05 830.00
05-11-05 06-10-05 830.00
08-10-05 09-09-05 830.00
2,490.00
ExxonMobil
02-08-05 03-10-05 405.00
05-11-05 06-10-05 435.00
08-10-05 09-09-05 551.00
1,391.00
FedEx Corporation
06-08-05 07-01-05 119.20
General Electric
02-24-05 04-25-05 1,265.00
06-23-05 07-25-05 1,265.00
09-22-05 10-25-05 1,265.00
3,795.00
Goldman Sachs Group Inc.
07-22-05 08-25-05 375.00
3
e LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
INCOME AND'EXPENSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Security
Ex-Date Pay-Date Amount
Hewlett-Packard
06-13-05 07-06-05 340.00
Ingersoll-Rand
05-12-05 06-01-05 437.50
Int'l Business Machines
02-08-05 03-10-05 270.00
Intel Corp.
02-03-05 03-01-05 280.00
05-04-05 06-01-05 391.60
08-03-05 09-01-05 434.00
1,105.60
Johnson & Johnson
02-11-05 03-08-05 855.00
05-13-05 06-07-05 990.00
08-19-05 09-13-05 990.00
2,835.00
Kennametal, Inc.
02-04-05 02-23-05 425.00
08-05-05 08-24-05 209.00
634.00
Kerr McGee Corp.
01-03-05 01-03-05 17350.00
03-02-05 04-01-05 900.00
06-01-05 07-01-05 50.00
2,300.00
Knight Transportation Inc.
09-28-05 10-18-05 80.00
L-3 Communications Holdings Inc.
02-17-05 03-15-05 187.50
Masco Corp.
07-06-05 08-08-05 600.00
A
3
4 ..
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
INCOME AND EXPENSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Security
Ex-Date Pay-Date Amount
I
Medicis Pharmaceutical Corp.
03-30-05 04-29-05 77.25
06-29-05 07-29-05 86.25
163.50
Medtronic, Inc.
01-05-05 01-28-05 209.38
03-30-05 04-29-05 209.38
418.76
Microsoft Corp.
02-15-05 03-10-05 280.00
05-16-05 06-09-05 280.00 '
08-15-05 09-08-05 400.00
960.00
Minnesota Mining & Mfg.
05-18-05 06-12-05 294.00
NASDAQ 100 Index
06-17-05 07-29-05 217.25
Pfizer
05-11-05 06-07-05 997.50
08-10-05 09-06-05 997.50
1,995.00
Pharmaceutical Holders Trust
04-11-05 04-29-05 2.50
04-13-05 05-18-05 125.13
05-04-05 06-02-05 25.03
05-11-05 06-09-05 341.90
05-11-05 06-10-05 3.25
05-11-05 06-03-05 89.70
05-11-05 06-14-05 107.25
05-13-05 06-09-05 278.85
06-01-05 07-06-05 176.85
06-28-05 07-19-05 3.04
06-29-05 08-03-05 102.15
5
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor
Longer Investments Inc.
INCOME AND EXPENSES
Fayetteville Fire Pension and Relief Fund U/A DTD 6-18-86
From 01-01-05 Through 09-30-05
Security
Ex-Date Pay-Date Amount
07-13-05 08-17-05 86.63
1,342.28
Regional Bank Holders Trust
05-25-05 06-14-05 24.84
05-26-05 06-17-05 72.88
05-26-05 06-17-05 316.71
05-27-05 06-17-05 85.39
06-01-05 06-28-05 215.52
06-08-05 07-06-05 25.36
06-13-05 07-06-05 47.44
06-15-05 07-06-05 51.75
06-21-05 07-06-05 25.19
06-28-05 07-18-05 81.51
06-28-05 07-19-05 289.78
06-29-05 07-19-05 31.05
07-01-05 08-03-05 251.17
07-07-05 08-03-05 114.88
07-13-05 07-27-05 77.63
07-13-05 08-03-05 65.55
07-27-05 08-17-05 39.67
08-03-05 09-06-05 206.66
2,022.98
Robert Half International
08-23-05 09-15-05 302.75
SBC Communications
01-06-05 02-01-05 1,612.50
Sara Lee Corp.
02-25-05 04-01-05 839.38
05-27-05 07-08-05 938.13
1,777.51
Semiconductor Holders Trust
03-17-05 04-13-05 6.00
Sherwin Williams Co.
08-17-05 09-02-05 717.50
6
LONGER INVESTMENTS INCORPORATED
A Registered Investment Advisor