CCP 03-13-2000 - Laserfiche WebLink

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Maturities ($ in OOO's) . Annual Maturities Al!:!!re!!ate Maturities Investment Bv Cate!!orv Annual Entire Year Catcl!:orv Amount Pct Amount Pct Portfolio 20000 Cash - I $ 6,553 100% FRI - 2 $ 1,490 25% Zero - 3 $ 271 17% $ 8,314 59% 59% 2001 FRI $ 1,100 19% Zero $ 382 24% $ 1,482 11% 70% 2002 FRI $ 1,096 19% Zero $ 280 18% $ 1,376 10% 80% 2003 FRI $ 1,090 18% Zero $ 346 22% $ 1,436 10% 90% 2004 FRI $ 1,092 19% Zero $ 297 19% $ 1.389 10% 100% $13,997 $13.997 1- "Cash" is Cash and Cash Equivalents - generally Money Market Funds. . 2- "FRI" is Fixed Rate Instruments - generally Notes or Certificates of Deposit (CD's) 3- "Zero" is Zero Coupon Instruments - generally Government Note Strips or CD's Risk Characteristics The risk to principal due to credit quality is low as all investments are either insured by, or are an obligation of, the U.S. Government. Fixed rate investments, and zero coupon investments, are all subject to market risk if required to liquidate on short notice. In the case of fixed rate instruments and zero coupon instruments, this market risk is mitigated by an investment policy to hold for the duration of a maturity. Accordingly, internal reports reflect original costs and current market value. Maturity Philosouhv The concept of "laddering" maturities is a commonly used technique that, in this case, supports an objective that overall return will tend to more nearly approximate two ycar Treasury Note interest rates, as investments are made at then current five year intermediate term rates with varying maturities. This also allows for a consistent stream of maturities and the opportunity for investing in smaller, more frequently available amounts than iflarge amounts were invested in "lumps." This is a source of liquid funds that can either be reinvested or used for current needs as appropriate. .