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Home My WebLink AboutDocumentation_Pension Public Safety_Tab 13A_08/11/200528554/003 1 72 124 563E 0000000785-- • • • S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 0000000785 I~~II~~~II~~I~~I~II~~I~I~~~I~I~I VILLAGE OF TEQUESTA ATTN: GWEN CARLISLE 250 TEQUESTA DRIVE SUITE 300 TEQUESTA FL 33469-0273 28554/003 2 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 YOUR ADMINISTRATIVE OFFICER IS: KAREN M RUSSO / JC 954-426-5770 TRUST ACCOUNTING STATEMENT FOR THE PERIOD FROM 04/01/2005 TO 04/30/2005 • 7062037849 SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE VILLAGE OF TEQUESTA ATTN: GWEN CARLISLE 250 TEQUESTA DRIVE SUITE 300 TEQUESTA FL 33469-0273 • PLEASE CONTACT YOUR ACCOUNT ADMINISTRATOR AT THE NUMBER LISTED ABOVE SHOULD YOU HAVE ANY QUESTIONS CONCERNING YOUR ACCOUNT. 28554/003 3 72 124 5638 0000000785-- • SALEM TRUST L O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 TABLE OF CONTENTS THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE ACCOUNT # 7062037849 SUMMARY OF ACCOUNT ACTIVITY ......................................... 1 BALANCE SHEET ....................................................... 2 SUMMARY OF EARNINGS ................................................. 3 INVESTMENT REVIEW ................................................... 5 SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS .......................... 10 SCHEDULE OF OTHER ADDITIONS ......................................... 11 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS .............................. 18 SCHEDULE OF INCOME .................................................. 40 SCHEDULE OF PURCHASES ............................................... 46 SCHEDULE OF REALIZED GAINS & LOSSES ................................. 55 SCHEDULE OF BROKERAGE COMMISSIONS ................................... 69 • 28554/003 4 72 124 5638 0000000765-- SALEM TRUST C V M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 MARKET VALUE AS OF 04/01/2005 GAIN AND LOSS INTEREST LESS BEGINNING ACCRUED INCOME ACCRUED INCOME REALIZED GAIN OR LOSS IN-KIND GAIN OR LOSS ADDITIONS UNREALIZED GAIN OR LOSS TOTAL GAIN AND LOSS SUMMARY OF ACCOUNT ACTIVITY SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE RECEIPTS OTHER RECEIPTS TOTAL RECEIPTS DISBURSEMENTS TOTAL DISBURSEMENTS TOTAL MARKET VALUE AS OF 04/30/2005 3,255.72 0.00 6,951.60 144,295.79 181,387.98- 21,020.05- 2,484,954.61 • 47,904.92- 2,484,954.61 0.00 `. PAGE 1 ACCOUNT # 7062037849 0.00 2,437,049.69 • `•.../ 28554/003 5 72 124 5638 0000000785-- SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/O1/Z005 THROUGH 04/30/2005 CASH DUE FROM BROKERS ACCRUED INCOME TOTAL CASH & RECEIVABLES CASH AND EQUIVALENTS MONEY MARKET FUNDS TOTAL CASH AND EQUIVALENTS FIXED INCOME U.S. OBLIGATIONS FEDERAL AGENCIES FEDERAL AGENCIES - MORTGAGE BACK TOTAL FIXED INCOME EQUITIES COMMON STOCKS TOTAL EQUITIES TOTAL HOLDINGS TOTAL ASSETS DUE TO BROKERS TOTAL LIABILITIES TOTAL NET ASSET VALUE TOTAL LIABILITIES AND EQUITY BALANCE SHEET PAGE 2 SALEM TRUST COMPANY AS CUSTOD IAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE AS OF 04/01/2005 AS OF 04/30/2005 COST VALUE MARKET VALUE COST VALUE MARKET VALUE - - - - - - - - - - - - - - ASSETS - - - - - - - - - - - - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,951.60 6,951.60 6,951.60 6,951.60 0.00 0.00 71,693.05 71,693.05 71,693.05 71,693.05 0.00 0.00 213,736.72 213,786.60 0.00 0.00 286,537.44 286,190.15 0.00 0.00 469,534.55 465,264.59 969,808.71 965,241.34 0.00 0.00 1,409,616.38 1,409,616.38 2,451,118.14 2,458,069.74 ------ L I A B I L I T I E S-- 0.00 0.00 0.00 1,393,163.70 1,393,163.70 2,430,098.09 2,437,049.69 0.00 2,458,069.74 2,437,049.69 2,458,069.74 2,437,049.69 • 28554/003 6 72 124 563B 0000000785-- • • SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SUMMARY OF EARNINGS PAGE 3 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE INCOME EARNED INTEREST 10,207.32 TOTAL INCOME EARNED 10,207.32 OTHER RECEIPTS 2,484,954.61 REALIZED GAIN FROM DISPOSITION OF ASSETS 144,295.79 TOTAL INCREASES IN FUND VALUE 2,639,457.72 t ..._ ,~ 28554/003 7 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 • • SUMMARY OF EARNINGS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE UNREALIZED LO55 IN THE PERIOD 21,020.05 TOTAL DECREASES IN FUND VALUE NET CHANGE IN NET ASSET VALUE CALCULATION OF UNREALIZED GAIN/LOSS: MARKET VALUE OF ASSETS AT END OF PERIOD 2,430,098.09 LESS COST AT END OF PERIOD 2,451,118.14 PLUS BEGINNING COST OF ASSETS 0.00 LESS BEGINNING MARKET VALUE OF ASSETS 0.00 EQUALS UNREALIZED GAIN/LOSS IN THE PERIOD 21,020.05- MARKET VALUE AND COST FIGURES DO NOT INCLUDE CASH AND ACCRUED INCOME PAGE 4 ACCOUNT # 7062037849 21,020.05 2,618,437.67 GOVVYIVVJOIG IGY VVJI~VVVVVVV/VV • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 INVESTMENT REVIEW FOR THE ACCOUNT OF PAGE 5 SALEM TRUST COMPANY AS CUSTODIAN ACCT 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND ASSETS HELD 04/30/2005 VILLAGE OF TEQUESTA VALUED AS OF 04/30/2005 ATTN: JODY FORSYTHE INVESTMENT OFFICER..........ROCKWOOD CAPITAL ADVISORS, LLCINVESTMENT OBJECTIVE........ ADMINISTRATIVE OFFICER......KAREN M RUSSO / JC INVESTMENT AUTHORITY........NONE TRUST TAX FILING STATUS..... INVESTMENT RESPONSIBILITY...RESTRICTED TRUST TAX YEAR END.......... ACCOUNT TYPE ................EMPLOYEE BENEFIT-CUSTODIAN GAINS TAXED TO .............. DATE FUNDED.................04/06/2005 INCOME TAXED TO ............. REVIEW CYCLE................ TRUST ADJUSTED TAX BRACKET.. PREVIOUS MARKET VALUE....... TRUST SITUS .................FLORIDA PREVIOUS MARKET VALUE DATE.. BEGIN TERMINATION........... TRANSFER TO PRINCIPAL....... FINAL TERMINATION........... GREENHILL PARTICIPANT.......NO ACCOUNT RESTRICTIONS: SIMS MODEL # ................ SIMS MODEL FREQUENCY........ TAX LOSS CARRYFORWARD SHORT TERM TAX LOSS CARRYFORWARD r • J 28554/003 9 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 CATEGORY CASH & CASH EQUIVALENTS FIXED INCOME EQUITY TOTAL FUND SUMMARY OF INVESTMENTS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE PAGE 6 ACCT 7062037849 ASSETS HELD 04/30/2005 VALUED AS OF 04/30/2005 ESTIMATED ANNUAL CURRENT MARKET VALUE % INCOME YIELD 78,644.65 3.23 1,599 2.03 965,241.34 39.61 49,074 5.08 1,393,163.70 ------------ 57.17 ------ 24,735 --------- 1.78 ------- 2,437,049.69 100.00 75,408 3.09 • 'Ltl554/U03 10 72 124 5638 0000000785-- • • The prices shown on these pages represent the most recent price evaluation available SALEM TRUST on the last business day of the statement period, normally the last trade price or the bid price in the case of over-the-counter quotations. Where no regular market exists, prices shown are estimates by sources we consider reliable. Price evaluations are C v M ~ A N v obtained from outside parties. While the prices are obtained from sources we consider Post Office Box 30010 Durham, NC 27702 reliable we cannot guarantee them. SCHEDULE OF INVESTMENTS PAGE 7 SALEM TRUST COMPANY AS CUSTODIAN ACCT 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND ASSETS HELD 04/30/2005 VILLAGE OF TEQUESTA VALUED AS OF 04/30/2005 ATTN: JODY FORSYTHE SHARES OR CURRENT CURRENT MARKET % OF FACE VALUE DESCRIPTION TICKER CUSIP TAX COST PRICE DT PRICE VALUE GROUP CASH & CASH EQUIVALENTS ----------------------- ----------------------- ACCRUED INCOME 6,952 6,951.60 8.84 71,693.05 GOLDMAN SACHS FIN SQ TREASURY 469 38141W315 71,693 71,693.05 91.16 OBLIB ADMIN FUND #469 TOTAL CASH & CASH EQUIVALENTS 78,645* $78,644.65 100.00% FIXED INCOME 40,000 UNITED STS TREAS NOTES DTD 912828CF5 39,586 05/02/2005 98.867 39,546.80 4.10 4/30/04 2.25% 04/30/2006 50,000 FEDERAL HOME LOAN MORTGAGE CORP 3134A4RH9 50,779 05/02/2005 99.188 49,594.00 5.14 DTD 9/16/02 3.5% 09/15/2007 100,000 UNITED STS TREAS NOTES DTD 912828AN0 98,332 05/02/2005 98.336 98,336.00 10.19 11/15/02 3% 11/15/2007 25,000 FEDERAL HOME LOAN BANK DTD 3133MLT88 24,800 05/02/2005 103.594 25,898.50 2.68 2/15/02 5.25% 02/13/2009 50,000 FEDERAL HOME LOAN BANK DTD 3133X15Y9 50,000 05/02/2005 99.688 49,844.00 5.16 09/08/2003 SERIES X209 CALLABLE 9/30/05 @ PAR 4.1% 03/30/2009 70,000 UNITED STATES TREASURY NOTES DTD 9128275N8 75,819 05/02/2005 108.434 75,903.80 7.86 08/15/99 6% 08/15/2009 105,000 FEDERAL NATIONAL MORTGAGE ASSN 31359MHK2 110,959 05/02/2005 105.813 111,103.65 11.51 DTD 03/26/2001 5.5% 03/15/2011 50,000 FEDERAL HOME LOAN BANK DTD 3133X8RQ7 50,000 05/02/2005 99.50 49,750.00 5.15 09/17/2004 CALLABLE 4/25/2005 @ 100 4.7% 10/14/2011 99,909.44 GNSF POOL# 599190 DTD 3/1/05 6% 36200EUP4 103,781 04/29/2005 103.2101 103,116.63 10.68 03/15/2035 149,876.39 GNSF POOL# 640208 DTD 3/1/05 36291WGR6 158,541 04/29/2005 104.7338 156,971.23 16.26 6.5% 03/15/2035 120,000 GNSF POOL# 640896 DTD 4/1/05 7% 36291W7H8 128,963 04/29/2005 105.9526 127,143.13 13.17 04/15/2035 80,000 GNSF POOL# 641273 DTD 4/1/05 36291XMW6 78,250 04/29/2005 97.542 78,033.60 8.08 4.5% 04/15/2035 -------------- ----------------- ------- TOTAL FIXED INCOME 969,810* 5965,241.34 100.00% 28554/003 11 72 124 563B 0000000785 SALEM TRUST L O M P A N Y Post Oftice Box 30010 Durham, NC 27702 SCHEDULE OF INVESTMENTS PAGE 8 SALEM TRUST COMPANY AS CUSTODIAN ACCT 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND ASSETS HELD 04/30/2005 VILLAGE OF TEQUESTA VALUED AS OF 04/30/2005 ATTN: JODY FORSYTHE SHARES OR CURRENT CURRENT FACE VALUE DESCRIPTION TICKER CUSIP TAX COST PRICE DT PRICE EQUITY 620 APACHE CORP APA 037411105 36,574 05/02/2005 56.29 900 BALL CORP COM BLL 058498106 36,332 05/02/2005 39.50 620 BOEING CO COM BA 097023105 36,318 05/02/2005 59.52 510 CAP ONE FINANCIAL CORP COF 14040H105 24,239 05/02/2005 70.89 730 CARNIVAL CORP CLASS A COMMON CCL 143658300 36,775 05/02/2005 48.88 PAIRED STOCK 400 CATERPILLAR TRACTOR CO COM CAT 149123101 35,812 05/02/2005 88.05 3,090 CENTERPOINT ENERGY INC COM CNP 151897107 36,647 05/02/2005 11.84 1,790 CHESAPEAKE ENERGY COM CHK 165167107 36,695 05/02/2005 19.24 560 DEERE AND CO COM DE 244199105 36,294 05/02/2005 62.54 1,820 DEUTSCHE TELEKOM AG-SPON ADR COM DT 251566105 34,984 05/02/2005 18.79 800 DOW CHEM CO COM DOW 260543103 36,390 05/02/2005 45.93 3,540 EL PASO CORP COM EP 28336L109 36,745 05/02/2005 9.99 500 ENTERGY CORP ETR 293646103 36,010 05/02/2005 73.30 690 FASTENAL CO COM FAST 311900104 36,729 05/02/2005 53.52 3,080 GOODYEAR TIRE & RUBR CO COM GT 382550101 36,110 05/02/2005 11.87 980 GRACO INC COM GGG 384109104 35,897 05/02/2005 33.77 840 HALLIBURTON CO COM HAL 406216101 36,937 05/02/2005 41.59 1,020 INOYMAC BANCORP INC COM NDE 456607100 36,842 05/02/2005 38.48 1,100 LANDSTAR SYSTEM INC COM LSTR 515098101 36,069 05/02/2005 30.65 610 LOCKHEED MARTIN CORP COM LMT 539830109 36,136 05/02/2005 60.95 510 LOEWS CORP COM LTR 540424108 36,449 05/02/2005 70.88 1,050 MCCORMICK & CO COM NON VTG SHS MKC 579780206 36,539 05/02/2005 34.59 1,050 P G & E CORP COM PCG 693310108 36,722 05/02/2005 34.72 960 PROTECTIVECLIFEAPROTECTIVEOLIFE PLP 74684103 37,022 05%02%2 05 38.24 CORP 780 ROCKWELL COLLINS COM COL 774341101 36,356 05/02/2005 45.88 1,760 SCHERING PLOUGH CORP COM SGP 806605101 36,504 05/02/2005 20.87 590 SIMON PROPERTY GROUP INC COM SPG 828806109 36,757 05/02/2005 66.07 1,580 SPRINT CORP COM FON 852061100 36,358 05/02/2005 22.26 1,280 SWIFT ENERGY CO COM SFY 870738101 37,461 05/02/2005 26.33 1,040 TELECOM CORP NEW ZEALAND LTD NZT 879278208 36,806 04/29/2005 35.57 SPONSORED ADR 910 TEREX CORP COM TEX 880779103 36,243 05/02/2005 37.38 490 TIMERLAND COMPANY-CL A COM TBL 887100105 36,412 05/02/2005 69.05 850 TORO CO COM TTC 891092108 36,017 05/02/2005 41.32 1,250 VERISIGN INC COM VRSN 92343E102 36,922 05/02/2005 26.45 850 VOLVO AB-SPONSORED ADR VOLV 928856400 37,111 05/02/2005 40.47 2,080 WORTHINGTON INDUSTRIES INC COM WOR 981811102 35,842 05/02/2005 16.26 8~0 ROYAL CARIBBDEANOCRUISES LTD COM RCL V7780T103 36,965 05/02/2005 42.07 • MARKET % OF VALUE GROUP 34,899.80 2.51 35,550.00 2.55 36,902.40 2.65 36,153.90 2.60 35,682.40 2.56 35,220.00 2.53 36,585.60 2.63 34,439.60 2.47 35,022.40 2.51 34,197.80 2.45 36,744.00 2.64 35,364.60 2.54 36,650.00 2.63 36,928.80 2.65 36,559.60 2.62 33,094.60 2.38 34,935.60 2.51 39,249.60 2.82 33,715.00 2.42 37,179.50 2.67 36,148.80 2.59 36,319.50 2.61 36,456.00 2.62 35,356.80 2.54 36,710.40 2.64 35,786.40 2.57 36,731.20 2.64 38,981.30 2.80 35,170.80 2.52 33,702.40 2.42 36,992.80 2.66 34,015.80 2.44 33,834.50 2.43 35,122.00 2.52 33,062.50 2.37 34,399.50 2.47 33,820.80 2.43 39,760.00 2.85 35,717.00 2.56 28554/003 12 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 SCHEDULE OF INVESTMENTS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE SHARES OR FACE VALUE DESCRIPTION TICKER CUSIP • PAGE 9 ACCT 7062037849 ASSETS HELD 04/30/2005 VALUED AS OF 04/30/2005 CURRENT CURRENT TAX COST PRICE DT PRICE -------------- TOTAL EQUITY 1,409,617'° -------------- TOTAL FUND 2,458,072* MARKET % OF VALUE GROUP ----------------- ------- $1,393,163.70 100.00% ----------------- ------- $2,437,049.69 100.00% • 28554/003 13 72 124 5638 0000000785-- SALEM TRUST L O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 • • SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS PAGE 10 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE R E C E I P T S CASH BALANCE AS OF 04/01/2005 0.00 INCOME RECEIVED INTEREST 3,255.72 TOTAL INCOME RECEIPTS 3,255.72 OTHER CASH RECEIPTS 274,800.73 PROCEEDS FROM THE DISPOSITION OF ASSETS 2,177,650.47 TOTAL RECEIPTS 2,455,706.92 D I S B U R S E M E N T S COST OF ACQUISITION OF ASSETS 2,455,706.92 TOTAL DISBURSEMENTS 2,455,706.92 CASH BALANCE AS OF 04/30/2005 0.00 28554/003 14 72 124 5638 0000000785•- • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 • FOR THE PERIOD 04/01/2005 SCHEDULE OF OTHER ADDITIONS PAGE 11 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: )ODY FORSYTHE IN-KIND @ MKT/ TOTAL DATE DESCRIPTION CASH COST/GAIN OR LOSS(-) CASH + IN-KIND 04/20/2005 RECD 1,600 SHS 54,448.00 MARVELL TECHNOLOGY GROUP LTD COM 35,916.00 FROM FRIST CLEARING 18,532.00- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 600 SHS 52,440.00 ALCON INC COM 46,865.00 FROM FRIST CLEARING 5,575.00- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 600 SHS 44,766.00 AMBAC FINANCIAL GROUP, INC COM 42,466.50 FROM FRIST CLEARING 2,299.50- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,000 SHS 50,550.00 AMERICAN EXPRESS CO COM 37,325.00 FROM FRIST CLEARING 13,225.00- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 800 SHS 46,864.00 AMGEN INC COM 38,403.00 FROM FIRST CLEARING 8,461.00- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,600 SHS 51,600.00 AUTODESK INC. 47,336.00 FROM FIRST CLEARING 4,264.00- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 50,000 UNITS 51,564.00 BANK OF AMERICA CORP DTD 6/8/04 49,937.50 5.375% 06/15/2014 1,626.50- FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 25,000 UNITS 25,355.75 CSX TRANSN INC DTD 03/10/1993 25,355.75 SERIES 93-A 6.48% 03/15/2008 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 700 SHS 51,415.00 CAP ONE FINANCIAL CORP 33,269.50 FROM FIRST CLEARING 18,145.50- (EFFECTIVE DATE 04/19/2005) 28554/003 15 72 124 563B 0000000785-- • • ~~ SALEM TRUST C O M P A N Y Post Oftice Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF OTHER ADDITIONS PAGE 12 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFEODIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE IN-KIND @ MKT/ TOTAL DATE DESCRIPTION CASH COST/GAIN OR LOSS(-) CASH + IN-KIND 04/20/2005 RECD 100 SHS 17,485.00 CHICAGO MERCANTILE EXCHANGE COM 19,736.00 FROM FIRST CLEARING 2,251.00 (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 2,000 SHS 52,120.00 COACH COM 40,079.00 FROM FIRST CLEARING 12,041.00- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 250 SHS 26,137.50 CONOCOPHILLIPS COM 27,360.00 FROM FIRST CLEARING 1,222.50 (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,000 SHS 43,890.00 COSTCO WHOLESALE CORP COM 48,380.00 FROM FIRST CLEARING 4,490.00 (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 25,000 UNITS 27,374.00 CREDIT SUISSE FB USA INC DTD 25,282.00 1/11/02 MAKE WHOLE 6.5% 2,092.00- 01/15/2012 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,100 SHS 39,182.00 DELL INC COM 31,810.99 FROM FIRST CLEARING 7,371.01- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,200 SHS 38,604.00 EBAY INC COM 41,076.00 FROM FIRST CLEARING 2,472.00 (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 600 SHS 51,030.00 FEDEX CORP COM 50,534.00 FROM FIRST CLEARING 496.00- (EFFECTIVE DATE 04/20/2005) 04/20/2005 RECD 25,000 UNITS 24,773.25 FIRST UNION CORP DTD 10/22/1993 24,773.25 6% 10/30/2008 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 28554/003 16 72 124 5638 0000000785-- • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THETHROUGH 04%0%2005 SALEMEDTRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE PAGE 13 ACCOUNT # 7062037849 IN-KIND @ MKT/ DATE DESCRIPTION CASH COST/GAIN OR LOSS(-) 04/20/2005 RECD 1,400 SHS 50,400.00 405.50 47 GENERAL ELEC CO COM , 994.50- 2 FROM FIRST CLEARING , (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 400 SHS 34,420.00 604.00 37 HARMAN INTERNATIONAL COM , 184.00 3 FROM FIRST CLEARING , (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 800 SHS INFOSYS TECHNOLOGIES -SP ADR COM 66,720.00 52,296.00 FROM FIRST CLEARING 14,424.00- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 700 SHS L-3 COMMUNICATIONS HLDGS INC COM 48,979.00 44,482.00 FROM FIRST CLEARING 4,497.00- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 300 SHS 21,882.00 767.00 23 LEGG MASON INC COM , 885.00 1 FROM FIRST CLEARING , (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,000 SHS 52,600.00 416.14 48 LOWES COMPANIES INC COM , 183.86- 4 FROM FIRST CLEARING , (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 900 SHS 45,738.00 136.00 29 MEDTRONIC INC COM , 602.00- 16 FROM FIRST CLEARING , (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 600 SHS 48,894.00 140.66 29 MOODY'S CORPORATION COM , 753.34- 19 FROM FIRST CLEARING , (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 25,000 UNITS 25,000.00 000.00 25 PUBLIC SERVICE EL & GAS DTD , 01/23/1996 SERIES WW MAKE WHOLE 6.25% 01/01/2007 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) ` ~~ TOTAL CASH + IN-KIND • J 28554/003 17 72 124 5638 0000000785-- . • • ~~ SALEM TRUST C O M P A N Y Post Otfice Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF OTHER ADDITIONS PAGE 14 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFEODIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE IN-KIND @ MKT/ TOTAL DATE DESCRIPTION CASH COST/GAIN OR LOSS(-) CASH + IN-KIND 04/20/2005 RECD 325 SHS 22,880.00 PULTE CORP 25,772.25 FROM FIRST CLEARING 2,892'25 (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 800 SHS 47,488.00 600.00 45 SMITH INTL INC COM FROM FIRST CLEARING , 1,888.00- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,000 SHS 46,220.00 281'99 29 STARBUCKS CORP COM , 938.01- 16 FROM FIRST CLEARING , (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,000 SHS 46,600.00 065.50 36 STRYKER CORP COM FROM FIRST CLEARING , 10,534.50- (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,000 SHS 47,890.00 916.80 50 TARGET CORP COM FROM FIRST CLEARING , 3,026.80 (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 300 SHS 22,650.00 039.00 25 TOIL BROTHERS INC COM , 389.00 2 FROM FIRST CLEARING , (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 550 SHS 51,260.00 00 019 49 UNITEDHEALTH GROUP INC COM . , 241.00- 2 FROM FIRST CLEARING , (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 25,000 UNITS VERIZON NEW ENGLAND INC DTD 26,940.75 25,218.75 8/21/01 MAKE WHOLE 6.5% 1,722.00- 09/15/2011 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 1,000 SHS 50,270.00 819.00 37 WACHOVIA CORP COM FROM FIRST CLEARING , 12,451.00- (EFFECTIVE DATE 04/19/2005) 28554/003 18 72 124 5638 0000000785-- .. • • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF OTHER ADDITIONS PAGE 15 TRU T COMPANY AS CUSTODIAN ACCOUNT # 7062037849 SALEM S 2005 THROUGH 04/30/ FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE IN-KIND @ MKT/ TOTAL DATE DESCRIPTION CASH COST/GAIN OR LOSS(-) CASH + IN-KIND 04/20/2005 RECD 50,000 UNITS 50,000.00 FEDERAL FARM CREDIT BANK DTD 50,000.00 08/14/2003 CALLABLE 8/25/05 @ 100 S% 08/25/2010 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 25,000 UNITS 24,671.88 FEDERAL HOME LOAN BANK DTD 24,671.88 12/03/1996 SERIES GJ06 6.24% 12/11/2006 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 25,000 UNITS 25,992.25 FEDERAL HOME LOAN BANK DTD 24,799.76 2/15/02 5.25% 02/13/2009 1,192.49- FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 50,000 UNITS 50,000.00 FEDERAL HOME LOAN BANK DTD 50,000.00 09/08/2003 SERIES X209 CALLABLE 9/30/05 @ PAR 4.1% 03/30/2009 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 50,000 UNITS 50,000.00 FEDERAL HOME LOAN BANK DTD 50,000.00 03/29/2004 CALLABLE 4/25/05 @ 100 5% 04/15/2014 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 25,000 UNITS 25,976.50 FEDERAL HOME LOAN MORTGAGE CORP 25,125.00 DTD 3/5/02 CALLABLE 6.25% 851.50- 03/05/2012-2007 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD 50,000 UNITS 49,656.50 FEDERAL HOME LOAN MORTGAGE CORP 50,778.91 DTD 9/16/02 3.5% 09/15/2007 1,122.41 FROM FIRST CLEARING (EFFECTIVE DATE 04/19/2005) .-,^ r ~`..... 285541003 19 72 124 5638 0000000785-- • i '~ • ~~ ~~ ~~ ~~ SALEM TRUST - -_ C O M P A N Y ~~ Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF OTHER ADDITIONS PAGE 16 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE IN-KIND @ MKT/ TOTAL DATE DESCRIPTION CASH COST/GAIN OR LOSS(-) CASH + IN-KIND 04/20/2005 RECD 25,000 UNITS 26,548.00 BANKERS TRUST NY MEDIUM TERM 24,891.75 NOTE SERA 6.7% 10/01/2007 1,656.25- FROM FIRST CLEARING (EFFECTIVE DATE 04/20/2005) 04/20/2005 RECD 50,000 UNITS GENERAL ELEC CAP CORP DTD 04/30/2003 SERIES MTN CALLABLE 11/15/05/ @ 100 4% 05/15/2015 FROM FIRST CLEARING (EFFECTIVE DATE 04/20/2005) 04/20/2005 RECD 50,000 UNITS MERRILL LYNCH & CO SERIES MTNB DTD 9/26/2003 5.3% 09/30/2015 FROM FIRST CLEARING (EFFECTIVE DATE 04/20/2005) 04/20/2005 RECD FEDERAL HOME LOAN BANK DTD 2/15/02 5.25% 02/13/2009 TAX COST ADJUSTMENT (EFFECTIVE DATE 04/19/2005) 04/20/2005 RECD STRYKER CORP COM TAX COST ADJUSTMENT (EFFECTIVE DATE 04/19/2005) 04/21/2005 RECD 50,000 UNITS FEDERAL HOME LOAN BANK DTD 09/23/2003 SERIES H713 CALLABLE 10/17/2005 @ 100 5.25% 10/17/2013 FROM FIRST CLEARING (EFFECTIVE DATE 04/20/2005) 04/21/2005 RECD 50,000 UNITS FEDERAL HOME LOAN BANK DTD 01/08/2004 SERIES RQ14 CALLABLE 1/23/2006 @ 100 5.2% 01/23/2014 FROM FIRST CLEARING (EFFECTIVE DATE 04/20/2005) 50,000.00 50,000.00 51,066.00 50,800.00 266.00- 0.02 0.02 1.00 1.00 50,000.00 50,000.00 50,000.00 50,000.00 28554/003 20 72 124 5638 0000000785-- • • SALEM TRUST L O M P A N Y Post Oftice Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF OTHER ADDITIONS PAGE 17 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE IN-KIND @ MKT/ TOTAL DATE DESCRIPTION CASH COST/GAIN OR LOSS(-) CASH + IN-KIND 04/21/2005 RECD 50,000 UNITS 50,000.00 FEDERAL HOME LOAN BANK DTD 50,000.00 07/23/2004 CALLABLE 08/18/2005 @ 100 5.55% 08/18/2014 FROM FIRST CLEARING (EFFECTIVE DATE 04/20/2005) 04/21/2005 RECD 50,000 UNITS 50,000.00 FEDERAL HOME LOAN BANK DTD 50,000.00 09/17/2004 CALLABLE 4/25/2005 @ 100 4.7% 10/14/2011 FROM FIRST CLEARING (EFFECTIVE DATE 04/20/2005) 04/21/2005 RECD 50,000 UNITS 50,000.00 FEDERAL HOME LOAN BANK DTD 50,000.00 01/26/2005 CALLABLE 224/2006 @ 100 4.9% 02/24/2012 FROM FIRST CLEARING (EFFECTIVE DATE 04/20/2005) 04/21/2005 RECD 50,000 UNITS 49,812.50 FREDDIE MAC DTD 09/28/2004 49,812.50 SERIES MTN CALLABLE 10/28/2005 @ 100 5% 10/28/2014 FROM FIRST CLEARING (EFFECTIVE DATE 04/20/2005) 04/22/2005 RECD FROM WACHOVIA 274,800.73 NEW ACCOUNT FUNDED 4-22-05 TOTAL OTHER ADDITIONS 274,800.73 2,210,153.88 2,484,954.61 2,028,765.90 181,387.98- ....._ M`~, ,~ ~- 28554/003 21 72 124 5636 0000000785-- • ~~ ~~~ ~~ ~~ SALEM TRUST -_ C O M P A N Y ~~ Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 18 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH COST 04/01/2005 BEGINNING BALANCE 0.00 0.00 04/19/2005 RECEIVED 1,600 SHS MARVELL 0.00 35,916.00 TECHNOLOGY GROUP LTD COM EFFECTIVE 04/19/2005 FROM FRIST CLEARING 04/19/2005 RECEIVED 600 SHS ALCON INC COM 0.00 46,865.00 EFFECTIVE 04/19/2005 FROM FRIST CLEARING 04/19/2005 RECEIVED 600 SHS AMBAC FINANCIAL 0.00 42,466.50 GROUP, INC COM EFFECTIVE 04/19/2005 FROM FRIST CLEARING 04/19/2005 RECEIVED 1,000 SHS AMERICAN 0.00 37,325.00 EXPRESS CO COM EFFECTIVE 04/19/2005 FROM FRIST CLEARING 04/19/2005 RECEIVED 800 SHS AMGEN INC COM 0.00 38,403.00 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 1,600 SHS AUTODESK INC. 0.00 47,336.00 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 50,000 UNITS BANK OF 0.00 49,937.50 AMERICA CORP DTD 6/8/04 5.375% 06/15/2014 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 25,000 UNITS CSX TRANSN 0.00 25,355.75 INC DTD 03/10/1993 SERIES 93-A 6.48% 03/15/2008 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 700 SHS CAP ONE 0.00 33,269.50 FINANCIAL CORP EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 100 SHS CHICAGO 0.00 19,736.00 MERCANTILE EXCHANGE COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 26554/003 22 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 04/19/2005 RECEIVED 2,000 SHS COACH COM 0.00 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 250 SHS CONOCOPHILLIPS 0.00 COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 1,000 SHS COSTCO 0.00 WHOLESALE CORP COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 25,000 UNITS CREDIT 0.00 SUISSE FB USA INC DTD 1/11/02 MAKE WHOLE 6.5% 01/15/2012 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 1,100 SHS DELL INC COM 0.00 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 1,200 SHS EBAY INC COM 0.00 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 25,000 UNITS FIRST 0.00 UNION CORP DTD 10/22/1993 6% 10/30/2008 EFFECTIVE 04/19/2005. FROM FIRST CLEARING 04/19/2005 RECEIVED 1,400 SHS GENERAL ELEC 0.00 CO COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 400 SHS HARMAN 0.00 INTERNATIONAL COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 800 SHS INFOSYS 0.00 TECHNOLOGIES -SP ADR COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING • PAGE 19 ACCOUNT # 7062037849 COST 40,079.00 27,360.00 48,380.00 25,282.00 31,810.99 41,076.00 24,773.25 47,405.50 37,604.00 52,296.00 • J 28554/003 23 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: 70DY FORSYTHE CASH 04/19/2005 RECEIVED 700 SHS L-3 COMMUNICATIONS HLDGS INC COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 300 SHS LEGG MASON INC COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 1,000 SHS LOWES COMPANIES INC COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 900 SHS MEDTRONIC INC COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 600 SHS MOODY'S CORPORATION COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 25,000 UNITS PUBLIC SERVICE EL & GAS DTD 01/23/1996 SERIES WW MAKE WHOLE 6.25% 01/01/2007 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 325 SHS PULTE CORP EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 800 SHS SMITH INTL INC COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 1,000 SHS STARBUCKS CORP COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 1,000 SHS STRYKER CORP COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 • • PAGE 20 ACCOUNT # 7062037849 COST 44,482.00 23,767.00 48,416.14 29,136.00 29,140.66 25,000.00 25,772.25 45,600.00 29,281.99 36,065.50 28554/003 24 72 124 5636 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 04/19/2005 P T 0 E 0.00 FROM 04/19/2005 EFFECTIVE COM FIRST CLEARING 04/19/2005 RECEIVED 300 SHS TOLL BROTHERS 0.00 INC COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 550 SHS UNITEDHEALTH 0.00 GROUP INC COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 T ~~ E 0.00 8/21/01 MAKE NC DTD ENGLAND NEW WHOLE 6.5% 09/15/2011 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 1,000 SHS WACHOVIA CORP 0.00 COM EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 50,000 UNITS FEDERAL 0.00 FARM CREDIT BANK DTD 08/14/2003 CALLABLE 8/25/05 @ 100 5% 08/25/2010 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 25,000 UNITS FEDERAL 0.00 HOME LOAN BANK DTD 12/03/1996 SERIES GJ06 6.24% 12/11/2006 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 25,000 UNITS FEDERAL 0.00 HOME LOAN BANK DTD 2/15/02 5.25% 02/13/2009 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 04/19/2005 RECEIVED 50,000 UNITS FEDERAL 0.00 HOME LOAN BANK DTD 09/08/2003 SERIES X209 CALLABLE 9/30/05 @ PAR 4.1% 03/30/2009 EFFECTIVE . 04/19/2005 FROM FIRST CLEARING _.. • PAGE 21 ACCOUNT # 7062037849 COST 50,916.80 25,039.00 49,019.00 25,218.75 37,819.00 50,000.00 24,671.88 24,799.76 50,000.00 • J 28554/003 25 72 124 5638 0000000785-- • • ~~ ~~ ~~ ...~~ SALEM TRUST = C O M P A N Y Post Office Box 30010 Durham, NC 27702 PAGE 22 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE - CASH COST DATE DESCRIPTION 0.00 50,000.00 04/19/2005 RECEIVED 50,000 UNITS FEDERAL HOME LOAN BANK DTD 03/29/2004 CALLABLE 4/25/05 @ 100 5% 04/15/2014 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 0.00 25,125.00 04/19/2005 HOMEILOAN2MORTGAGEICORPEDTDAL 3/5/02 CALLABLE 6.25% 03/05/2012-2007 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 0.00 50,778.91 04/19/2005 HOMEILOANSMORTGAGEICORPEDTDAL 9/16/02 3.5% 09/15/2007 EFFECTIVE 04/19/2005 FROM FIRST CLEARING 0.00 0.02 04/19/2005 RECEIVED FEDERAL HOME LOAN BANK DTD 2/15/02 5.25% 02/13/2009 EFFECTIVE 04/19/2005 TAX COST ADJUSTMENT 0.00 1.00 04/19/2005 EFFECTIVESO4/19/2005PTA~MCOST ADJUSTMENT 04/20/2005 RECEIVED 50,000 UNITS FEDERAL 0.00 50,000.00 HOME LOAN BANK DTD 09/23/2003 SERIES H713 CALLABLE 10/17/2005 @ 100 5.25% 10/17/2013 EFFECTIVE 04/20/2005 FROM FIRST CLEARING 0.00 50,000.00 04/20/2005 HOMEILOAN56ANKODTDI01/08/2004 SERIES RQ14 CALLABLE 1/23/2006 @ 100 5.2% 01/23/2014 EFFECTIVE 04/20/2005 FROM FIRST CLEARING 0.00 50,000.00 04/20/2005 RECEIVED 50,000 UNITS FEDERAL HOME LOAN BANK DTD 07/23/2004 CALLABLE 08/18/2005 @ 100 5.55% 08/18/2014 EFFECTIVE 04/20/2005 FROM FIRST CLEARING 28554/003 26 72 124 5638 0000000785-- SALEM TRUST C (~ M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 04/20/2005 RECEIVED 50,000 UNITS FEDERAL 0.00 HOME LOAN BANK DTD 09/17/2004 CALLABLE 4/25/2005 @ 100 4.7% 10/14/2011 EFFECTIVE 04/20/2005 FROM FIRST CLEARING 04/20/2005 RECEIVED 50,000 UNITS FEDERAL 0.00 HOME LOAN BANK DTD 01/26/2005 CALLABLE 224/2006 @ 100 4.9% 02/24/2012 EFFECTIVE 04/20/2005 FROM FIRST CLEARING 04/20/2005 RECEIVED 50,000 UNITS FREDDIE 0.00 MAC DTD 09/28/2004 SERIES MTN CALLABLE 10/28/2005 @ 100 5% 10/28/2014 EFFECTIVE 04/20/2005 FROM FIRST CLEARING 04/20/2005 RECEIVED 600 SHS FEDEX CORP COM 0.00 FROM FIRST CLEARING 04/20/2005 RECEIVED 25,000 UNITS BANKERS 0.00 TRUST NY MEDIUM TERM NOTE SER A 6.7% 10/01/2007 FROM FIRST CLEARING 04/20/2005 RECEIVED 50,000 UNITS GENERAL 0.00 ELEC CAP CORP DTD 04/30/2003 SERIES MTN CALLABLE 11/15/05/ @ 100 4% 05/15/2015 FROM FIRST CLEARING 04/20/2005 RECEIVED 50,000 UNITS MERRILL 0.00 LYNCH & CO SERIES MTNB DTD 9/26/2003 5.3% 09/30/2015 FROM FIRST CLEARING 04/22/2005 RECEIVED FROM WACHOVIA NEW 274,800.73 ACCOUNT FUNDED 4-22-05 04/22/2005 SOLD 1,000 SHS STRYKER CORP COM 48,874.95 ON 04/22/2005 AT 48.897 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 20.00 EXPENSES PAID 2.05 • PAGE 23 ACCOUNT # 7062037849 COST 50,000.00 50,000.00 49,812.50 50,534.00 24,891.75 50,000.00 50,800.00 0.00 36,066.50- ,~, • J 28554/003 27 72 124 5638 0000000785-- • ~~ it • ' ~~ ~~ SALEM TRUST -_ C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 24 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFE~YIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE DATE DESCRIPTION CASH COST 04/22/2005 SOLD 1,000 SHS TARGET CORP COM 46,646.04 50,916.80- ON 04/22/2005 AT 46.668 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 20.00 EXPENSES PAID 1.96 04/22/2005 SOLD 300 SHS TOLL BROTHERS INC 22,086.06 25,039.00- COM ON 04/22/2005 AT 73.643 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 6.00 EXPENSES PAID 0.93 04/22/2005 SOLD 550 SHS UNITEDHEALTH GROUP 50,446.37 49,019.00- INC COM ON 04/22/2005 AT 91.745 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 11.00 EXPENSES PAID 2.11 04/22/2005 ONL04/2~/~005SATA50~58ATHRUP COM 50,557.88 37,819.00- LYNCH ]ONES and RYAN COMMISSIONS PAID 20.00 EXPENSES PAID 2.12 04/22/2005 SOLD 1,600 SHS MARVELL 55,325.68 35,916.00- TECHNOLOGY GROUP LTD COM ON 04/22/2005 AT 34.60 THRU LYNCH JONES and RYAN COMMISSIONS PAID 32.00 EXPENSES PAID 2.32 04/22/2005 SOLD 600 SHS ALCON INC COM ON 56,298.64 46,865.00- 04/22/2005 AT 93.855 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 12.00 EXPENSES PAID 2.36 04/22/2005 SOLD 600 SHS AMBAC FINANCIAL 39,726.61 42,466.50- GROUP, INC COM ON 04/22/2005 AT 66.234 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 12.00 EXPENSES PAID 1.67 04/22/2005 ~OLCOM~ON004/22/2005CAT 50P434S 50,412.09 37,325.00- THRU LYNCH JONES and RYAN COMMISSIONS PAID 20.00 EXPENSES PAID 2.11 28554/003 28 72 1 24 563B 0000000785-- SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH 04/22/2005 SOLD 800 SHS AMGEN INC COM ON 47,030.03 04/22/2005 AT 58.83 THRU LYNCH JONES and RYAN COMMISSIONS PAID 16.00 EXPENSES PAID 1.97 04/22/2005 SOLD 1,600 SHS AUTODESK INC. ON 52,541.80 04/22/2005 AT 32.86 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 32.00 EXPENSES PAID 2.20 04/22/2005 SOLD 190 SHS CAP ONE FINANCIAL 13,741.11 CORP ON 04/22/2005 AT 72.345 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 3.80 EXPENSES PAID 0.58 04/22/2005 SOLD 100 SHS CHICAGO MERCANTILE 17,028.28 EXCHANGE COM ON 04/22/2005 AT 170.31 THRU LYNCH JONES and RYAN COMMISSIONS PAID 2.00 EXPENSES PAID 0.72 04/22/2005 SOLD 2,000 SHS COACH COM ON 51,611.84 04/22/2005 AT 25.827 THRU LYNCH JONES and RYAN COMMISSIONS PAID 40.00 EXPENSES PAID 2.16 04/22/2005 SOLD 250 SHS CONOCOPHILLIPS COM 26,687.88 ON 04/22/2005 AT 106.776 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 5.00 EXPENSES PAID 1.12 04/22/2005 SOLD 1,000 SHS COSTCO WHOLESALE 39,958.32 CORP COM ON 04/22/2005 AT 39.98 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 20.00 EXPENSES PAID 1.68 04/22/2005 SOLD 1,100 SHS DELL INC COM ON 40,071.32 04/22/2005 AT 36.45 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 22.00 EXPENSES PAID 1.68 ,,~ PAGE 25 ACCOUNT # 7062037849 COST 38,403.00- 47,336.00- 9,030.29- 19,736.00- 40,079.00- 27,360.00- 48,380.00- 31,810.99- • J 28554/003 29 72 124 5638 0000000785-- . • • SALEM TRUST -_ C O M P A N Y ~~ Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 26 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFEODIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH COST 04/22/2005 SOLD 1,200 SHS EBAY INC COM ON 38,794.37 41,076.00- 04/22/2005 AT 32.35 THRU LYNCH JONES and RYAN COMMISSIONS PAID 24.00 EXPENSES PAID 1.63 04/22/2005 SOLD 600 SHS FEDEX CORP COM ON 51,537.84 50,534.00- 04/22/2005 AT 85.92 THRU LYNCH JONES and RYAN COMMISSIONS PAID 12.00 EXPENSES PAID 2.16 04/22/2005 SOLD 1,400 SHS GENERAL ELEC CO 50,523.88 47,405.50- COM ON 04/22/2005 AT 36.11 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 28.00 EXPENSES PAID 2.12 04/22/2005 SOLD 400 SHS HARMAN 31,630.67 37,604.00- INTERNATIONAL COM ON 04/22/2005 AT 79.103 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 8.00 EXPENSES PAID 1.33 04/22/2005 SOLD 800 SHS INFOSYS 50,203.90 52,296.00- TECHNOLOGIES -SP ADR COM ON 04/22/2005 AT 62.778 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 16.00 EXPENSES PAID 2.50 04/22/2005 SOLD 700 SHS L-3 COMMUNICATIONS 49,659.91 44,482.00- HLDGS INC COM ON 04/22/2005 AT 70.966 THRU LYNCH JONES and RYAN COMMISSIONS PAID 14.00 EXPENSES PAID 2.08 04/22/2005 SOLD 300 SHS LEGG MASON INC COM 21,570.08 23,767.00- ON 04/22/2005 AT 71.923 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 6.00 EXPENSES PAID 0.91 04/22/2005 SOLD 1,000 SHS LOWES COMPANIES 52,007.82 48,416.14- INC COM ON 04/22/2005 AT 52.03 THRU LYNCH JONES and RYAN COMMISSIONS PAID 20.00 EXPENSES PAID 2.18 I 28554!003 30 72 124 5636 0000000785-- s SALEM TRUST C (~ M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 04/22/2005 SOLD 900 SHS MEDTRONIC INC COM ON 04/22/2005 AT 51.113 THRU LYNCH JONES and RYAN COMMISSIONS PAID 18.00 EXPENSES PAID 1.93 04/22/2005 SOLD 600 SHS MOODY'S CORPORATION COM ON 04/22/2005 AT 81.832 THRU LYNCH JONES and RYAN COMMISSIONS PAID 12.00 EXPENSES PAID 2.06 04/22/2005 SOLD 325 SHS PULTE CORP ON 04/22/2005 AT 69.994 THRU LYNCH JONES and RYAN COMMISSIONS PAID 6.50 EXPENSES PAID 0.96 04/22/2005 SOLD 800 SHS SMITH INTL INC COM ON 04/22/2005 AT 61.443 THRU LYNCH JONES and RYAN COMMISSIONS PAID 16.00 EXPENSES PAID 2.86 04/22/2005 SOLD 1,000 SHS STARBUCKS CORP COM ON 04/22/2005 AT 46.03 THRU LYNCH JONES and RYAN COMMISSIONS PAID 20.00 EXPENSES PAID 1.93 04/22/2005 PURCHASED 480 SHS PRECISION CASTPARTS CORP COM ON 04/22/2005 AT 75.358 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 9.60 04/22/2005 PURCHASED 780 SHS ROCKWELL COLLINS COM ON 04/22/2005 AT 46.59 THRU LYNCH JONES and RYAN COMMISSIONS PAID 15.60 04/22/2005 PURCHASED 910 SHS TEREX CORP COM ON 04/22/2005 AT 39.807 THRU LYNCH JONES and RYAN COMMISSIONS PAID 18.20 04/22/2005 PURCHASED 1,250 SHS VERISIGN INC COM ON 04/22/2005 AT 29.518 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 25.00 45,982.04 49,084.96 22,740.53 49,135.94 46,008.07 36,181.58- 36,356.03- 36,242.66- 36,922.00- • PAGE 27 ACCOUNT # 7062037849 COST 29,136.00- 29,140.66- 25,772.25- 45,600.00- 29,281.99- 36,181.58 36,356.03 36,242.66 36,922.00 • ~ J 28554/003 31 72 124 563B 0000000785-- . • • ~~~ ~~ ~~ ~~ SALEM TRUST = .- C O M P A N Y '~'~~ Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 28 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFETYIAN ACCOUNT # 7062037849 ENSION FUND P VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH COST DATE DESCRIPTION 04/22/2005 PURCHASED 900 SHS BALL CORP COM 36,332.01- 36,332.01 ON 04/22/2005 AT 40.349 THRU LYNCH JONES and RYAN COMMISSIONS PAID 18.00 04/22/2005 PURCHASED 700 SHS BUNGE LIMITED 36,414.00- 36,414.00 COM ON 04/22/2005 AT 52.00 THRU LYNCH JONES and RYAN COMMISSIONS PAID 14.00 04/22/2005 PURCHASED 800 SHS DOW CHEM CO 36,390.00- 36,390.00 COM ON 04/22/2005 AT 45.468 THRU LYNCH JONES and RYAN COMMISSIONS PAID 16.00 04/22/2005 PURCHASED 2,080 SHS WORTHINGTON 35,841.94- 35,841.94 INDUSTRIES INC COM ON 04/22/2005 AT 17.212 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 41.60 04/22/2005 PURCHASED 1,580 SHS SPRINT CORP 36,357.85- 36,357.85 COM ON 04/22/2005 AT 22.991 THRU LYNCH JONES and RYAN COMMISSIONS PAID 31.60 04/22/2005 PURCHASED 3,090 SHS CENTERPOINT 36,647.40- 36,647.40 ENERGY INC COM ON 04/22/2005 AT 11.84 THRU LYNCH JONES and RYAN COMMISSIONS PAID 61.80 04/22/2005 PURCHASED 500 SHS ENTERGY CORP 36,010.00- 36,010.00 ON 04/22/2005 AT 72.00 THRU LYNCH JONES and RYAN COMMISSIONS PAID 10.00 04/22/2005 PURCHASED 1,050 SHS P G & E CORP 36,721.55- 36,721.55 COM ON 04/22/2005 AT 34.953 THRU LYNCH JONES and RYAN COMMISSIONS PAID 21.00 04/22/2005 PURCHASED 1,820 SHS DEUTSCHE 34,983.68- 34,983.68 TELEKOM AG-SPON ADR COM ON 04/22/2005 AT 19.202 THRU LYNCH JONES and RYAN COMMISSIONS PAID 36.40 28554/003 32 72 124 5638 0000000785-- • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 29 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH COST 04/22/2005 PURCHASED 1,040 SHS TELECOM CORP 36,806.02- 36,806.02 NEW ZEALAND LTD SPONSORED ADR ON 04/22/2005 AT 35.37 THRU LYNCH JONES and RYAN COMMISSIONS PAID 20.80 04/22/2005 PURCHASED 850 SHS VOLVO 37,111.00- 37,111.00 AB-SPONSORED ADR ON 04/22/2005 AT 43.64 THRU LYNCH JONES and RYAN COMMISSIONS PAID 17.00 04/22/2005 PURCHASED 3,080 SHS GOODYEAR 36,109.92- 36,109.92 TIRE & RUBR CO COM ON 04/22/2005 AT 11.704 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 61.60 04/22/2005 PURCHASED 850 SHS ROYAL 36,964.97- 36,964.97 CARIBBEAN CRUISES LTD COM ON 04/22/2005 AT 43.468 THRU LYNCH JONES and RYAN COMMISSIONS PAID 17.00 04/22/2005 PURCHASED 490 SHS TIMERLAND 36,412.39- 36,412.39 COMPANY-CL A COM ON 04/22/2005 AT 74.291 THRU LYNCH JONES and RYAN COMMISSIONS PAID 9.80 04/22/2005 PURCHASED 850 SHS TORO CO COM ON 36,017.48- 36,017.48 04/22/2005 AT 42.354 THRU LYNCH JONES and RYAN COMMISSIONS PAID 17.00 04/22/2005 PURCHASED 730 SHS CARNIVAL CORP 36,774.77- 36,774.77 CLASS A COMMON PAIRED STOCK ON 04/22/2005 AT 50.356 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 14.60 04/22/2005 PURCHASED 620 SHS APACHE CORP ON 36,573.80- 36,573.80 04/22/2005 AT 58.97 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 12.40 _.... ~~..+ F 28554/003 33 72 124 5638 0000000785-- .. • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 30 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFETYIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE DATE DESCRIPTION CASH COST 04/22/2005 PURCHASED 1,790 SHS CHESAPEAKE 36,695.00- 36,695.00 ENERGY COM ON 04/22/2005 AT 20.48 THRU LYNCH JONES and RYAN COMMISSIONS PAID 35.80 04/22/2005 PURCHASED 3,540 SHS EL PASO CORP 36,744.85- 36,744.85 COM ON 04/22/2005 AT 10.3599 THRU LYNCH JONES and RYAN COMMISSIONS PAID 70.80 04/22/2005 PURCHASED 840 SHS HALLIBURTON CO 36,936.82- 36,936.82 COM ON 04/22/2005 AT 43.52 THRU LYNCH JONES and RYAN COMMISSIONS PAID 16.80 04/22/2005 PURCHASED 1,280 SHS SWIFT ENERGY 37,461.38- 37,461.38 CO COM ON 04/22/2005 AT 29.247 THRU LYNCH JONES and RYAN COMMISSIONS PAID 25.60 04/22/2005 BANCORPEIDNC'~OM ONS04/2D2/2005 AT 36,842.40- 36,842.40 36.10 THRU LYNCH JONES and RYAN COMMISSIONS PAID 20.40 04/22/2005 PURCHASED 510 SHS LOEWS CORP COM 36,448.68- 36,448.68 ON 04/22/2005 AT 71.448 THRU LYNCH JONES and RYAN COMMISSIONS PAID 10.20 04/22/2005 PURCHASED 960 SHS PROTECTIVE 37,022.21- 37,022.21 LIFE PROTECTIVE LIFE CORP ON 04/22/2005 AT 38.545 THRU LYNCH JONES and RYAN COMMISSIONS PAID 19.20 04/22/2005 PURCHASED 590 SHS SIMON PROPERTY 36,757.00- 36,757.00 GROUP INC COM ON 04/22/2005 AT 62.28 THRU LYNCH JONES and RYAN COMMISSIONS PAID 11.80 • 28554/003 34 72 124 5638 00000007t35•- SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 04/22/2005 PURCHASED 1,760 SHS SCHERING 36,504.16- PLOUGH CORP COM ON 04/22/2005 AT 20.721 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 35.20 04/22/2005 PURCHASED 620 SHS BOEING CO COM 36,317.99- ON 04/22/2005 AT 58.557 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 12.40 04/22/2005 PURCHASED 560 SHS DEERE AND CO 36,293.60- COM ON 04/22/2005 AT 64.79 THRU LYNCH JONES and RYAN COMMISSIONS PAID 11.20 04/22/2005 PURCHASED 690 SHS FASTENAL CO 36,728.70- COM ON 04/22/2005 AT 53.21 THRU LYNCH JONES and RYAN COMMISSIONS PAID 13.80 04/22/2005 PURCHASED 980 SHS GRACO INC COM 35,897.40- ON 04/Z2/2005 AT 36.61 THRU LYNCH JONES and RYAN COMMISSIONS PAID 19.60 04/22/2005 PURCHASED 1,100 SHS LANDSTAR 36,069.00- SYSTEM INC COM ON 04/22/2005 AT 32.77 THRU LYNCH JONES and RYAN COMMISSIONS PAID 22.00 04/22/2005 PURCHASED 610 SHS LOCKHEED 36,136.40- MARTIN CORP COM ON 04/22/2005 AT 59.22 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 12.20 04/22/2005 PURCHASED 400 SHS CATERPILLAR 35,812.00- TRACTOR CO COM ON 04/22/2005 AT 89.51 THRU LYNCH JONES and RYAN COMMISSIONS PAID 8.00 04/22/2005 PURCHASED 1,050 SHS MCCORMICK & 36,538.53- CO COM NON VTG SHS ON 04/22/2005 AT 34.78 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 21.00 • PAGE 31 ACCOUNT # 7062037849 COST 36,504.16 36,317.99 36,293.60 36,728.70 35,897.40 36,069.00 36,136.40 35,812.00 36,538.53 • ~ v~ 28554/003 35 72 124 5638 0000000785•- • • ~ ~~ SALEM TRUST -_ C U M P A N Y Post Ofiice Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 32 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFEODIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH COST 04/25/2005 DEPOSIT GOLDMAN SACHS FIN SQ 274,800.73- 274,800.73 TREASURY OBLIB ADMIN FUND #469 04/26/2005 PURCHASED 105,000 UNITS FEDERAL 110,958.75- 110,958.75 NATIONAL MORTGAGE ASSN DTD 03/26/2001 5.5% 03/15/2011 ON 04/26/2005 AT 105.675 THRU LYNCH JONES and RYAN 04/26/2005 PURCHASED 100,000 UNITS UNITED 98,332.03- 98,332.03 STS TREAS NOTES DTD 11/15/02 3% 11/15/2007 ON 04/26/2005 AT 98.332 THRU LYNCH JONES and RYAN 04/26/2005 PURCHASED 40,000 UNITS UNITED 39,585.94- 39,585.94 STS TREAS NOTES DTD 4/30/04 2.25% 04/30/2006 ON 04/26/2005 AT 98.9648 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 50,000 UNITS GENERAL ELEC 48,275.00 50,000.00- CAP CORP DTD 04/30/2003 SERIES MTN CALLABLE 11/15/05/ @ 100 4% 05/15/2015 ON 04/26/2005 AT 96.55 THRU LYNCH JONES and RYAN 04/26/2005 CORP DTD000/22/1993I6%T UNION 26,148.50 24,773.25- 10/30/2008 ON 04/26/2005 AT 104.594 THRU LYNCH ]ONES and RYAN 04/26/2005 FBLDSA5IN00DTDI1/11/OD2IMAKEISSE 27,274.00 25,282.00- WHOLE 6.5% 01/15/2012 ON 04/26/2005 AT 109.096 THRU LYNCH ]ONES and RYAN 04/26/2005 SOLD 25,000 UNITS CSX TRANSN INC 26,045.25 25,355.75- DTD 03/10/1993 SERIES 93-A 6.48% 03/15/2008 ON 04/26/2005 AT 104.181 THRU LYNCH JONES and RYAN 28554/003 36 72 124 5636 0000000785-- SALEM TRUST C O M P A N Y Post Otfice Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 04/26/2005 SOLD 25,000 UNITS BANKERS TRUST 26,296.75 NY MEDIUM TERM NOTE SERA 6.7% 10/01/2007 ON 04/26/2005 AT 105.187 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 50,000 UNITS BANK OF 51,600.00 AMERICA CORP DTD 6/8/04 5.375% 06/15/2014 ON 04/26/2005 AT 103.20 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 50,000 UNITS FEDERAL HOME 49,640.63 LOAN BANK DTD 07/23/2004 CALLABLE 08/18/2005 @ 100 5.55% 08/18/2014 ON 04/26/2005 AT 99.2813 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 50,000 UNITS FEDERAL HOME 49,000.00 LOAN BANK DTD 03/29/2004 CALLABLE 4/25/05 @ 100 5% 04/15/2014 ON 04/26/2005 AT 98.00 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 50,000 UNITS FEDERAL HOME 49,375.00 LOAN BANK DTD 01/08/2004 SERIES RQ14 CALLABLE 1/23/2006 @ 100 5.2% 01/23/2014 ON 04/26/2005 AT 98.75 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 50,000 UNITS FEDERAL HOME 49,375.00 LOAN BANK DTD 09/23/2003 SERIES H713 CALLABLE 10/17/2005 @ 100 5.25% 10/17/2013 ON 04/26/2005 AT 98.75 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 50,000 UNITS FEDERAL HOME 49,343.75 LOAN BANK DTD 01/26/2005 CALLABLE 224/2006 @ 100 4.9% 02/24/2012 ON 04/26/2005 AT 98.6875 THRU LYNCH JONES and RYAN • PAGE 33 ACCOUNT # 7062037849 COST 24,891.75- 49,937.50- 50,000.00- 50,000.00- 50,000.00- 50,000.00- 50,000.00- ~. 28554/003 37 72 124 5636 0000000785-- • • ~~ ~~. ~~ ~~. SALEM TRUST -_ C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 34 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH COST 04/26/2005 SOLD 25,000 UNITS FEDERAL HOME 25,687.50 24,671.88- LOAN BANK DTD 12/03/1996 SERIES GJ06 6.24% 12/11/2006 ON 04/26/2005 AT 102.75 THRU LYNCH ]ONES and RYAN 04/26/2005 SOLD 50,000 UNITS FREDDIE MAC 48,812.50 49,812.50- DTD 09/28/2004 SERIES MTN 10/28/201400N804/~6/20050AT% 97.625 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 50,000 UNITS FEDERAL FARM 49,531.25 50,000.00- CALDABLEAS/2D/050@/100203 08/25/2010 ON 04/26/2005 AT 99.0625 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 25,000 UNITS FEDERAL HOME 25,593.75 25,125.00- LOAN MORTGAGE CORP DTD 3/5/02 ONL04/26/2005%A03102/3~52THRU7 LYNCH JONES and RYAN 04/26/2005 SOLD 50,000 UNITS MERRILL LYNCH 50,632.50 50,800.00- & CO SERIES MTNB DTD 9/26/2003 5.3% 09/30/2015 ON 04/26/2005 AT 101.265 THRU LYNCH JONES and RYAN 04/26/2005 SOLD 25,000 UNITS PUBLIC SERVICE 25,812.50 25,000.00- EL & GAS DTD 01/23/1996 SERIES ON 04/26/2005 AT2103~250THRU07 LYNCH JONES and RYAN 04/26/2005 SOLD 25,000 UNITS VERIZON NEW 26,875.00 25,218.75- ENGLAND INC DTD 8/21/01 MAKE WHOLE 6.5% 09/15/2011 ON 04/26/2005 AT 107.50 THRU LYNCH JONES and RYAN 28554/003 38 72 124 5638 0000000785-- . • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 35 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH COST 04/26/2005 PURCHASED 149,876.39 UNITS GNSF 158,541.12- 158,541.12 POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 ON 04/26/2005 AT 105.7813 THRU LYNCH JONES and RYAN ORIGINAL FACE VALUE 150,000.00 04/26/2005 PURCHASED 120,000 UNITS GNSF 128,962.50- 128,962.50 POOL# 640896 DTD 4/1/05 7% 04/15/2035 ON 04/26/2005 AT 107.4688 THRU LYNCH JONES and RYAN ORIGINAL FACE VALUE 120,000.00 04/26/2005 PURCHASED 99,909.44 UNITS GNSF 103,780.93- 103,780.93 POOL# 599190 DTD 3/1/05 6% 03/15/2035 ON 04/26/2005 AT 103.875 THRU LYNCH JONES and RYAN ORIGINAL FACE VALUE 100,000.00 04/26/2005 PURCHASED 80,000 UNITS GNSF 78,250.00- 78,250.00 POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 ON 04/26/2005 AT 97.8125 THRU LYNCH JONES and RYAN ORIGINAL FACE VALUE 80,000.00 04/26/2005 PURCHASED 70,000 UNITS UNITED 75,818.75- 75,818.75 STATES TREASURY NOTES DTD 08/15/99 6% 08/15/2009 ON 04/26/2005 AT 108.3125 THRU LYNCH JONES and RYAN 04/27/2005 WITHDRAWAL GOLDMAN SACHS FIN SQ 117,501.26 117,501.26- TREASURY OBLIB ADMIN FUND #469 04/27/2005 DEPOSIT GOLDMAN SACHS FIN SQ 49.00- 49.00 TREASURY OBLIB ADMIN FUND #469 04/28/2005 INTEREST ON 50,000 UNITS FREDDIE 1,250.00 0.00 MAC DTD 09/28/2004 SERIES MTN CALLABLE 10/28/2005 @ 100 5% 10/28/2014 PAYABLE 04/28/2005 • , u J 28554/003 39 72 124 5F~9 0000000785-- • • SALEM TRUST L O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 36 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFEODIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE DATE DESCRIPTION CASH COST 04/28/2005 DEPOSIT GOLDMAN SACHS FIN SQ 1,250.00- 1,250.00 TREASURY OBLIB ADMIN FUND #469 04/29/2005 ACCRUED INTEREST PAID 105,000 705.83- 0.00 UNITS FEDERAL NATIONAL MORTGAGE ASSN DTD 03/26/2001 5.5% 03/15/2011 04/29/2005 ACCRUED INTEREST PAID 100,000 1,367.40- 0.00 UNITS UNITED STS TREAS NOTES DTD 11/15/02 3% 11/15/2007 04/29/2005 ACCRUED INTEREST PAID 40,000 447.51- 0.00 4/30/04N2T2D%S04/30/20060TES DTD 04/29/2005 ACCRUED INTEREST RECEIVED 50,000 911.11 0.00 UNITS GENERAL ELEC CAP CORP DTD 04/30/2003 SERIES MTN CALLABLE 11/15/05/ @ 100 4% 05/15/2015 04/29/2005 ACCRUED INTEREST RECEIVED 25,000 745.83 0.00 UNITS FIRST UNION CORP DTD 10/22/1993 6% 10/30/2008 04/29/2005 ACCRUED INTEREST RECEIVED 25,000 469.44 0.00 UNITS CREDIT SUISSE FB USA INC DTD 1/11/02 MAKE WHOLE 6.5% 01/15/2012 04/29/2005 ACCRUED INTEREST RECEIVED 25,000 198.00 0.00 UNITS CSX TRANSN INC DTD 03/10/1993 SERIES 93-A 6.48% 03/15/2008 04/29/2005 ACCRUED INTEREST RECEIVED 25,000 130.28 0.00 UNITS BANKERS TRUST NY MEDIUM TERM NOTE SERA 6.7% 10/01/2007 04/29/2005 ACCRUED INTEREST RECEIVED 50,000 1,000.35 0.00 UNITS BANK OF AMERICA CORP DTD 6/8/04 5.375% 06/15/2014 28554/003 40 72 124 5638 0000000765•- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 04/29/2005 ACCRUED INTEREST RECEIVED 50,000 547.29 UNITS FEDERAL HOME LOAN BANK DTD 07/23/2004 CALLABLE 08/18/2005 @ 100 5.55% 08/18/2014 04/29/2005 ACCRUED INTEREST RECEIVED 50,000 97.22 UNITS FEDERAL HOME LOAN BANK DTD 03/29/2004 CALLABLE 4/25/05 @ 100 5% 04/15/2014 04/29/2005 ACCRUED INTEREST RECEIVED 50,000 693.33 UNITS FEDERAL HOME LOAN BANK DTD 01/08/2004 SERIES RQ14 CALLABLE 1/23/2006 @ 100 5.2% 01/23/2014 04/29/2005 ACCRUED INTEREST RECEIVED 50,000 87.50 UNITS FEDERAL HOME LOAN BANK DTD 09/23/2003 SERIES H713 CALLABLE 10/17/2005 @ 100 5.25% 10/17/2013 04/29/2005 ACCRUED INTEREST RECEIVED 50,000 442.36 UNITS FEDERAL HOME LOAN BANK DTD 01/26/2005 CALLABLE 224/2006 @ 100 4.9% 02/24/2012 04/29/2005 ACCRUED INTEREST RECEIVED 25,000 598.00 UNITS FEDERAL HOME LOAN BANK DTD 12/03/1996 SERIES GJ06 6.24% 12/11/2006 04/29/2005 ACCRUED INTEREST RECEIVED 50,000 6.94 UNITS FREDDIE MAC DTD 09/28/2004 SERIES MTN CALLABLE 10/28/2005 @ 100 5% 10/28/2014 04/29/2005 ACCRUED INTEREST RECEIVED 50,000 444.44 UNITS FEDERAL FARM CREDIT BANK DTD 08/14/2003 CALLABLE 8/25/05 @ 100 5% 08/25/2010 • :~,.. PAGE 37 ACCOUNT # 7062037849 COST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 • J 28554/003 41 72 124 Sfi~B 0000000785-- • ' • ~~ ~~ .~~. ~~ SALEM TRUST =__ C O M P A N Y Post Office Box 30010 Durham, NC 27702 PAGE 38 FOR THE PERIOD 04/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: 70DY FORSYTHE CASH COST DATE DESCRIPTION 234.38 0.00 04/29/2005 UNITSEDFEDERALEHOMEELOANEMORTGAGE CORP DTD 3/5/02 CALLABLE 6.25% 03/05/2012-2007 213.47 0.00 04/29/2005 UNITSEMERRILLELYNCHC&ICO SERIE00 MTNB DTD 9/26/2003 5.3% 09/30/2015 512.15 0.00 04/29/2005 ACCRUED INTEREST RECEIVED 25,000 DTDTOI/23/1996ESERIESEWW$MAKE WHOLE 6.25% 01/01/2007 198.61 0.00 04/29/2005 ACCRUED INTEREST RECEIVED 25,000 UNITS VERIZON NEW ENGLAND INC DTD 8/21/01 MAKE WHOLE 6.5% 09/15/2011 757.71- 0.00 04/29/2005 ACCRUED INTEREST PAID 149,876.39 3/1/056655%P03/15/20308 DTD 653.33- 0.00 04/29/2005 ACCRUED INTEREST PAID 120,000 4/1/0567%F04/15/203~896 DTD 466.24- 0.00 04/29/2005 ACCRUED INTEREST PAID 99,909.44 UNITS GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 280.00- 0.00 04/29/2005 ACCRUED INTEREST PAID 80,000 4/1/056455%P04/15/20353 DTD 846.96- 0.00 04/29/2005 ACCRUED INTEREST PAID 70,000 NOTES DTDT08/15/995 6%EASURY 08/15/2009 28554/003 42 72 124 5638 0000000785-- SALEM TRUST L O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE 04/29/2005 WITHDRAWAL GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 04/30/2005 ENDING INCOME ACCRUAL 04/30/2005 ENDING BALANCE CASH 86,905.42 6,951.60 6,951.60 • PAGE 39 ACCOUNT # 7062037849 COST 86,905.42- 2,451,118.14 • 28554/003 43 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION INTEREST • SCHEDULE OF INCOME PAGE 40 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME RECEIVABLE RECEIVED RECEIVABLE EARNED CUSIP # 38141W315 GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 SECURITY TOTAL CUSIP # 9128275N8 UNITED STATES TREASURY NOTES DTD 08/15/99 6% 08/15/2009 SECURITY TOTAL CUSIP # 912828AN0 UNITED STS TREAS NOTES DTD 11/15/02 3% 11/15/2007 SECURITY TOTAL CUSIP # 912828CF5 UNITED STS TREAS NOTES DTD 4/30/04 2.25% 04/30/2006 SECURITY TOTAL CUSIP # 3128X3ZE6 FREDDIE MAC DTD 09/28/2004 SERIES MTN CALLABLE 10/28/2005 @ 100 5% 10/28/2014 SECURITY TOTAL CUSIP # 31331TBH3 FEDERAL FARM CREDIT BANK DTD 08/14/2003 CALLABLE 8/25/05 @ 100 5% 08/25/2010 0.00 0.00 63.87 0.00 0.00 0.00 846.96- 886.67 0.00 0.00 0.00 1,367.40- 1,383.33 0.00 0.00 0.00 447.51- 0.00 2.46 0.00 0.00 1,256.94 0.00 63.87 39.71 15.93 445.05- 0.00 1,256.94 0.00 • SECURITY TOTAL 0.00 444.44 0.00 444.44 0.00 0.00 28554/003 44 72 124 5636 0000000785-- SALEM TRUST C O M P A N Y Post Oftice Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION ~ ~ SCHEDULE OF INCOME PAGE 41 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME RECEIVABLE RECEIVED RECEIVABLE EARNED CUSIP # 3133955U5 FEDERAL HOME LOAN BANK DTD 12/03/1996 SERIES G306 6.24% 12/11/2006 SECURITY TOTAL CUSIP # 3133MLT88 FEDERAL HOME LOAN BANK DTD 2/15/02 5.25% 02/13/2009 SECURITY TOTAL CUSIP # 3133X15Y9 FEDERAL HOME LOAN BANK DTD 09/08/2003 SERIES X209 CALLABLE 9/30/05 @ PAR 4.1% 03/30/2009 SECURITY TOTAL CUSIP # 3133X1G50 FEDERAL HOME LOAN BANK DTD 09/23/2003 SERIES H713 CALLABLE 10/17/2005 @ 100 5.25% 10/17/2013 SECURITY TOTAL CUSIP # 3133X3F64 FEDERAL HOME LOAN BANK DTD 0~20~20064@S100E5.2%101/23/2014 SECURITY TOTAL CUSIP # 3133X5TM0 FEDERAL HOME LOAN BANK DTD 03/29/2004 CALLABLE 4/25/05 @ 100 5% 04/15/2014 .1~. 0.00 598.00 0.00 598.00 0.00 0.00 0.00 0.00 277.08 277.08 0.00 0.00 0.00 0.00 176.53 176.53 0.00 0.00 0.00 87.50 0.00 87.50 0.00 0.00 0.00 693.33 0.00 693.33 0.00 0.00 J 28554/003 45 72 124 5638 0000000785-- SALEM TRUST • C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD THROUGH 04/01/2005 04/30/2005 SCHEDULE OF INCOME SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT PAGE 42 # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME DATE DESCRIPTION RECEIVABLE RECEIVED RECEIVABLE EARNED SECURITY TOTAL 0.00 97.22 0.00 97.22 0.00 0.00 CUSIP # 3133X8366 FEDERAL HOME LOAN BANK DTD 07/23/2004 CALLABLE 08/18/2005 @ 100 5.55% 08/18/2014 SECURITY TOTAL CUSIP # 3133X8RQ7 FEDERAL HOME LOAN BANK DTD 09/17/2004 CALLABLE 4/25/2005 @ 100 4.7% 10/14/2011 SECURITY TOTAL CUSIP # 3133XALC9 FEDERAL HOME LOAN BANK DTD 01/26/2005 CALLABLE 224/2006 @ 100 4.9% 02/24/2012 SECURITY TOTAL CUSIP # 3134A4MF8 FEDERAL HOME LOAN MORTGAGE CORP DTD 3/5/02 CALLABLE 6.25% 03/05/2012-2007 SECURITY TOTAL CUSIP # 3134A4RH9 FEDERAL HOME LOAN MORTGAGE CORP DTD 9/16/02 3.5% 09/15/2007 SECURITY TOTAL 0.00 547.29 0.00 547.29 0.00 0.00 0.00 0.00 176.25 176.25 0.00 0.00 0.00 442.36 0.00 442.36 0.00 0.00 0.00 234.38 0.00 234.38 0.00 0.00 0.00 0.00 223.61 223.61 0.00 0.00 • i I II 28554/003 46 72 124 563B 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CUSIP # 31359MHK2 FEDERAL NATIONAL MORTGAGE ASSN DTD 03/26/2001 5.5% 03/15/2011 SECURITY TOTAL CUSIP # 36200EUP4 GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 SECURITY TOTAL CUSIP # 36291W7H8 GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 SECURITY TOTAL CUSIP # 36291WGR6 GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 SECURITY TOTAL CUSIP # 36291XMW6 GNSF POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 SECURITY TOTAL CUSIP # 0605056M5 BANK OF AMERICA CORP DTD 6/8/04 5.375% 06/15/2014 SECURITY TOTAL 0.00 705.83- 737.92 32.09 0.00 0.00 0.00 466.24- 499.55 33.31 0.00 0.00 0.00 653.33- 676.67 23.34 0.00 0.00 0.00 757.71- 811.83 54.12 0.00 0.00 0.00 280.00- 290.00 10.00 0.00 0.00 0.00 1,000.35 0.00 1,000.35 0.00 0.00 _ 4~i v~ • • SCHEDULE OF INCOME PAGE 43 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME RECEIVABLE RECEIVED RECEIVABLE EARNED 28554/003 47 72 124 5838 0000000785•- .. • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF INCOME PAGE 44 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFEODIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME DATE DESCRIPTION RECEIVABLE RECEIVED RECEIVABLE EARNED CUSIP # 06636QAB7 BANKERS TRUST NY MEDIUM TERM NOTE SERA 6.7% 10/01/2007 SECURITY TOTAL 0.00 130.28 0.00 130.28 0.00 0.00 CUSIP # 126410EC9 CSX TRANSN INC DTD 03/10/1993 SERIES 93-A 6.48% 03/15/2008 SECURITY TOTAL 0.00 198.00 0.00 198.00 0.00 0.00 CUSIP # 22541LAC7 CREDIT SUISSE FB USA INC DTD 1/11/02 MAKE WHOLE 6.5% 01/15/2012 SECURITY TOTAL 0.00 469.44 0.00 469.44 0.00 0.00 CUSIP # 337358AU9 FIRST UNION CORP DTD 10/22/1993 6% 10/30/2008 SECURITY TOTAL 0.00 745.83 0.00 1,491.66 0.00 745.83 CUSIP # 369626686 GENERAL ELEC CAP CORP DTD 04/30/2003 SERIES MTN CALLABLE 11/15/05/ @ 100 4% 05/15/2015 SECURITY TOTAL 0.00 911.11 0.00 911.11 0.00 0.00 CUSIP # 59018YRZ6 MERRILL LYNCH & CO SERIES MTNB DTD 9/26/2003 5.3% 09/30/2015 SECURITY TOTAL 0.00 213.47 0.00 213.47 0.00 0.00 • ~~ ~~ 28554/003 48 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 DATE DESCRIPTION CUSIP # 744567DT2 PUBLIC SERVICE EL & GAS DTD 01/23/1996 SERIES WW MAKE WHOLE 6.25% 01/01/2007 SECURITY TOTAL CUSIP # 92344RAA0 VERIZON NEW ENGLAND INC DTD 8/21/01 MAKE WHOLE 6.5% 09/15/2011 SECURITY TOTAL TOTAL INTEREST TOTAL INCOME SCHEDULE OF INCOME SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: )ODY FORSYTHE BEGINNING ACCRUAL/ CASH RECEIVABLE RECEIVED • PAGE 45 ACCOUNT # 7062037849 ENDING ACCRUAL/ INCOME RECEIVABLE EARNED 0.00 512.15 0.00 512.15 0.00 0.00 0.00 198.61 0.00 198.61 0.00 0.00 0.00 3,255.72 6,205.77 10,207.32 0.00 745.83 0.00 3,255.72 6,205.77 10,207.32 0.00 745.83 • J 28554/003 49 72 124 5F'~B 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 SCHEDULE OF PURCHASES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE • ~~ PAGE 46 ACCOUNT # 7062037849 TRADE SETTLMT DATE DATE DESCRIPTION UNITS COST MONEY MARKET FUNDS GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 DEPOSIT 276,099.73 276,099.73 TOTAL 276,099.73 276,099.73 TOTAL MONEY MARKET FUNDS 276,099.73 276,099.73 U.S. OBLIGATIONS UNITED STATES TREASURY NOTES DTD 08/15/99 6% 08/15/2009 04/26/2005 04/29/2005 PURCHASED AT 108.313 THRU 70,000 75,818.75 LYNCH JONES and RYAN TOTAL 70,000 75,818.75 UNITED STS TREAS NOTES DTD 11/15/02 3% 11/15/2007 04/26/2005 04/29/2005 PURCHASED AT 98.332 THRU 100,000 98,332.03 LYNCH JONES and RYAN TOTAL 100,000 98,332.03 UNITED STS TREAS NOTES DTD 4/30/04 2.25% 04/30/2006 04/26/2005 04/29/2005 PURCHASED AT 98.965 THRU 40,000 39,585.94 LYNCH JONES and RYAN TOTAL 40,000 39,585.94 TOTAL U.S. OBLIGATIONS 210,000 213,736.72 28554/003 50 72 124 5638 0000000785•- • • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF PURCHASES PAGE 47 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTIMT DATE DATE DESCRIPTION UNITS COST FEDERAL AGENCIES FEDERAL NATIONAL MORTGAGE ASSN DTD 03/26/2001 5.5% 03/15/2011 04/26/2005 04/29/2005 PURCHASED AT 105.675 THRU 105,000 110,958.75 LYNCH JONES and RYAN TOTAL 105,000 110,958.75 TOTAL FEDERAL AGENCIES 105,000 110,958.75 FEDERAL AGENCIES - MORTGAGE BACKED GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 04/26/2005 04/29/2005 PURCHASED AT 103.875 THRU 99,909.44 103,780.93 LYNCH JONES and RYAN TOTAL 99,909.44 103,780.93 GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 04/26/2005 04/29/2005 PURCHASED AT 107.469 THRU 120,000 128,962.50 LYNCH JONES and RYAN TOTAL 120,000 128,962.50 GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 04/26/2005 04/29/2005 PURCHASED AT 105.781 THRU 149,876.39 158,541.12 LYNCH JONES and RYAN TOTAL 149,876.39 158,541.12 GNSF POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 04/26/2005 04/29/2005 PURCHASED AT 97.813 THRU 80,000 78,250.00 LYNCH JONES and RYAN TOTAL 80,000 78,250.00 __ ,~ 28554/003 51 72 124 563B 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THETHROUGH 04/30/2005 SCHEDULE OF PURCHASES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE .~~ • • PAGE 48 ACCOUNT # 7062037849 TRADE SETTLMT DATE DATE DESCRIPTION UNITS COST TOTAL FEDERAL AGENCIES - MORTGAGE BACKED 449,785.83 469,534.55 COMMON STOCKS APACHE CORP 04/22/2005 04/27/2005 PURCHASED AT 58.97 THRU 620 36,573.80 LYNCH JONES and RYAN 620 36,573.80 TOTAL BALL CORP COM 04/22/2005 04/27/2005 PURCHASED AT 40.349 THRU 900 36,332.01 LYNCH (ONES and RYAN 900 36,332.01 TOTAL BOEING CO COM 04/22/2005 04/27/2005 PURCHASED AT 58.557 THRU 620 36,317.99 LYNCH JONES and RYAN 620 36,317.99 TOTAL CARNIVAL CORP CLASS A COMMON PAIRED STOCK 04/22/2005 04/27/2005 THRU T A L 730 36,774.77 and RYAN ]ONES YNCH 730 36,774.77 TOTAL CATERPILLAR TRACTOR CO COM 04/22/2005 04/27/2005 PURCHASED AT 89.51 THRU 400 35,812.00 LYNCH JONES and RYAN 400 35,812.00 TOTAL 28554/003 52 72 124 5636 0000000785•- • • SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF PURCHASES PAGE 49 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT DATE DATE DESCRIPTION UNITS COST CENTERPOINT ENERGY INC COM 04/22/2005 04/27/2005 PURCHASED AT 11.84 THRU 3,090 36,647.40 LYNCH JONES and RYAN TOTAL 3,090 36,647.40 CHESAPEAKE ENERGY COM 04/22/2005 04/27/2005 PURCHASED AT 20.48 THRU 1,790 36,695.00 LYNCH JONES and RYAN TOTAL 1,790 36,695.00 DEERE AND CO COM 04/22/2005 04/27/2005 PURCHASED AT 64.79 THRU 560 36,293.60 LYNCH JONES and RYAN TOTAL 560 36,293.60 DEUTSCHE TELEKOM AG-SPON ADR COM 04/22/2005 04/27/2005 PURCHASED AT 19.202 THRU 1,820 34,983.68 LYNCH JONES and RYAN TOTAL 1,820 34,983.68 DOW CHEM CO COM 04/22/2005 04/27/2005 PURCHASED AT 45.468 THRU 800 36,390.00 LYNCH JONES and RYAN TOTAL 800 36,390.00 EL PASO CORP COM 04/22/2005 04/27/2005 PURCHASED AT 10.36 THRU 3,540 36,744.85 LYNCH ]ONES and RYAN TOTAL 3,540 36,744.85 `~a:/? 28554/003 53 72 124 5638 0000000785•- SALEM TRUST L O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 SCHEDULE OF PURCHASES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE • ~~I PAGE 50 ACCOUNT # 7062037849 TRADE SETTLMT DATE DATE DESCRIPTION UNITS COST ENTERGY CORP 04/22/2005 04/27/2005 PURCHASED AT 72 THRU 500 36,010.00 LYNCH ]ONES and RYAN TOTAL 500 36,010.00 FASTENAL CO COM 04/22/2005 04/27/2005 PURCHASED AT 53.21 THRU 690 36,728.70 LYNCH JONES and RYAN TOTAL 690 36,728.70 GOODYEAR TIRE & RUBR CO COM 04/22/2005 04/27/2005 PURCHASED AT 11.704 THRU 3,080 36,109.92 LYNCH JONES and RYAN TOTAL 3,080 36,109.92 GRACO INC COM 04/22/2005 04/27/2005 PURCHASED AT 36.61 THRU 980 35,897.40 LYNCH JONES and RYAN TOTAL 980 35,897.40 HALLIBURTON CO COM 04/22/2005 04/27/2005 PURCHASED AT 43.952 THRU 840 36,936.82 LYNCH ]ONES and RYAN TOTAL 840 36,936.82 INDYMAC BANCORP INC COM 04/22/2005 04/27/2005 PURCHASED AT 36.1 THRU 1,020 36,842.40 LYNCH JONES and RYAN TOTAL 1,020 36,842.40 28554/003 54 72 124 5636 0000000785•- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 SCHEDULE OF PURCHASES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT DATE DATE DESCRIPTION UNITS LANDSTAR SYSTEM INC COM 04/22/2005 04/27/2005 PURCHASED AT 32.77 THRU 1,100 LYNCH JONES and RYAN TOTAL 1,100 LOCKHEED MARTIN CORP COM 04/22/2005 04/27/2005 PURCHASED AT 59.22 THRU 610 LYNCH JONES and RYAN TOTAL 610 LOEWS CORP COM 04/22/2005 04/27/2005 PURCHASED AT 71.448 THRU 510 LYNCH JONES and RYAN TOTAL 510 MCCORMICK & CO COM NON VTG SHS 04/22/2005 04/27/2005 PURCHASED AT 34.779 THRU 1,050 LYNCH JONES and RYAN TOTAL 1,050 P G & E CORP COM 04/22/2005 04/27/2005 PURCHASED AT 34.953 THRU 1,050 LYNCH JONES and RYAN TOTAL 1,050 PRECISION CASTPARTS CORP COM 04/22/2005 04/27/2005 PURCHASED AT 75.358 THRU 480 LYNCH JONES and RYAN TOTAL 480 • PAGE 51 ACCOUNT # 7062037849 COST 36,069.00 36,069.00 36,136.40 36,136.40 36,448.68 36,448.68 36,538.53 36,538.53 36,721.55 36,721.55 36,181.58 36,181.58 • J 28554/003 55 72 124 5638 0000000785•- • .~~ • ~~ '~ SALEM TRUST = ____ C U M I' A N Y ~~~ Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF PURCHASES PAGE 52 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT UNITS COST DATE DATE DESCRIPTION PROTECTIVE LIFE PROTECTIVE LIFE CORP 04/22/2005 04/27/2005 PURCHASED AT 38.545 THRU 960 37,022.21 LYNCH JONES and RYAN TOTAL 960 37,022.21 ROCKWELL COLLINS COM 04/22/2005 04/27/2005 PURCHASED AT 46.59 THRU 780 36,356.03 LYNCH JONES and RYAN TOTAL 780 36,356.03 SCHERING PLOUGH CORP COM 04/22/2005 04/27/2005 PURCHASED AT 20.721 THRU 1,760 36,504.16 LYNCH JONES and RYAN TOTAL 1,760 36,504.16 SIMON PROPERTY GROUP INC COM 04/22/2005 04/27/2005 PURCHASED AT 62.28 THRU 590 36,757.00 LYNCH JONES and RYAN TOTAL 590 36,757.00 SPRINT CORP COM 04/22/2005 04/27/2005 PURCHASED AT 22.991 THRU 1,580 36,357.85 LYNCH JONES and RYAN TOTAL 1,580 36,357.85 SWIFT ENERGY CO COM 04/22/2005 04/27/2005 PURCHASED AT 29.247 THRU 1,280 37,461.38 LYNCH JONES and RYAN TOTAL 1,280 37,461.38 28554/003 56 72 124 5638 0000000785-- SALEM TRUST C O M P A S Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 • • SCHEDULE OF PURCHASES PAGE 53 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT DATE DATE DESCRIPTION UNITS COST TELECOM CORP NEW ZEALAND LTD SPONSORED ADR 04/22/2005 04/27/2005 PURCHASED AT 35.37 THRU 1,040 36,806.02 LYNCH JONES and RYAN TOTAL 1,040 36,806.02 TEREX CORP COM 04/22/2005 04/27/2005 PURCHASED AT 39.807 THRU 910 36,242.66 LYNCH JONES and RYAN TOTAL 910 36,242.66 TIMERLAND COMPANY-CL A COM 04/22/2005 04/27/2005 PURCHASED AT 74.291 THRU 490 36,412.39 LYNCH ]ONES and RYAN TOTAL 490 36,412.39 TORO CO COM 04/22/2005 04/27/2005 PURCHASED AT 42.354 THRU 850 36,017.48 LYNCH JONES and RYAN TOTAL 850 36,017.48 VERISIGN INC COM 04/22/2005 04/27/2005 PURCHASED AT 29.518 THRU 1,250 36,922.00 LYNCH JONES and RYAN TOTAL 1,250 36,922.00 VOLVO AB-SPONSORED ADR 04/22/2005 04/27/2005 PURCHASED AT 43.64 THRU 850 37,111.00 LYNCH JONES and RYAN TOTAL 850 37,111.00 ,~ ~! 28554/003 57 72 124 5638 0000000785-- SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THETHROUGH 04/30/2005 SCHEDULE OF PURCHASES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE • • ~~ PAGE 54 ACCOUNT # 7062037849 TRADE SETTLMT DATE DATE DESCRIPTION UNITS COST WORTHINGTON INDU STRIES INC COM 04/22/2005 04/27/2005 THRU T A 2,080 35,841.94 and RYAN JONES LYNCH 2,080 35,841.94 TOTAL BUNGE LIMITED COM 04/22/2005 04/27/2005 T A 700 36,414.00 and RYAN ]ONES LYNCH 700 36,414.00 TOTAL ROYAL CARIBBEAN CRUISES LTD COM 04/22/2005 04/27/2005 THRU T A L 850 36,964.97 and RYAN JONES YNCH 850 36,964.97 TOTAL 42,750 1,385,377.17 TOTAL COMMON STOCKS 2,455,706.92 TOTAL PURCHASES 28554/003 58 72 124 5638 0000000785-- , • • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 55 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS MONEY MARKET FUNDS GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 WITHDRAWAL 204,406.68 204,406.68 204,406.68 TOTAL 204,406.68 204,406.68 204,406.68 TOTAL MONEY MARKET FUNDS 204,406.68 204,406.68 204,406.68 FEDERAL AGENCIES FREDDIE MAC DTD 09/28/2004 SERIES MTN CALLABLE 10/28/2005 @ 100 5% 10/28/2014 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 97.625 48,812.50 49,812.50 1,000.00- THRULYNCH JONES and RYAN 49,812.50 1,000.00- TOTAL 50,000 UNITS 48,812.50 49,812.50 1,000.00- 49,812.50 1,000.00- FEDERAL FARM CREDIT BANK DTD 08/14/2003 CALLABLE 8/25/05 @ 100 5% 08/25/2010 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 99.063 49,531.25 50,000.00 468.75- THRULYNCH JONES and RYAN 50,000.00 468.75- TOTAL 50,000 UNITS 49,531.25 50,000.00 468.75- 50,000.00 468.75- y °~,. 28554/003 59 72 124 5638 0000000785-- • SALEM TRUST = L O M F A N Y ~~ Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 56 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS FEDERAL HOME LOAN BANK DTD 12/03/1996 SERIES GJ06 6.24% 12/11/2006 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 THRDULYNCHO~ONESTandARYAN2 75 25,687.50 24,671.88 1,015.62 TOTAL 25,000 UNITS 25,687.50 24,671.88 1,015.62 FEDERAL HOME LOAN BANK DTD 09/23/2003 SERIES H713 CALLABLE 10/17/2005 @ 100 5.25% 10/17/2013 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 98.75 THRU 49,375.00 50,000.00 625.00- LYNCH JONES and RYAN TOTAL 50,000 UNITS 49,375.00 50,000.00 625.00- FEDERAL HOME LOAN BANK DTD 0 20%20064@S100E5.2%101/23/2014 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 98.75 THRU 49,375.00 50, 00.00 625.00- LYNCH ]ONES and RYAN TOTAL 50,000 UNITS 49,375.00 50,000.00 625.00- 50,000.00 625.00- 28554/003 60 72 124 5638 0000000785-- ... • • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 57 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS FEDERAL HOME LOAN BANK DTD 03/29/2004 CALLABLE 4/25/05 @ 100 5% 04/15/2014 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 98 THRU 49,000.00 50,000.00 1,000.00- LYNCH JONES and RYAN 50,000.00 1,000.00- TOTAL 50,000 UNITS 49,000.00 50,000.00 1,000.00- 50,000.00 1,000.00- FEDERAL HOME LOAN BANK DTD 07/23/2004 CALLABLE 08/18/2005 @ 100 5.55% 08/18/2014 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 99.281 49,640.63 50,000.00 359.37- THRULYNCH JONES and RYAN 50,000.00 359.37- TOTAL 50,000 UNITS 49,640.63 50,000.00 359.37- 50,000.00 359.37- FEDERAL HOME LOAN BANK DTD 01/26/2005 CALLABLE 224/2006 @ 100 4.9% 02/24/2012 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 98.688 49,343.75 50,000.00 656.25- THRULYNCH JONES and RYAN 50,000.00 656.25- TOTAL 50,000 UNITS 49,343.75 50,000.00 656.25- 50,000.00 656.25- FEDERAL HOME LOAN MORTGAGE CORP DTD 3/5/02 CALLABLE 6.25% 03/05/2012-2007 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 i 28554/003 61 72 124 5638 0000000785-- • 1 ~~ SALEM TRUST C O M P A N Y Post Oftice Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFETYIAN PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT PROCEEDS DATE DATE DESCRIPTION 04/26/2005 04/29/2005 THRULYNCHO~ONESTandARYAN2.375 25,593.75 TOTAL 25,000 UNITS 25,593.75 TOTAL FEDERAL AGENCIES CORPORATE BONDS BANK OF AMERICA CORP DTD 6/8/04 5.375% 06/15/2014 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 103.2 THRU LYNCH JONES and RYAN TOTAL 50,000 UNITS BANKERS TRUST NY MEDIUM TERM NOTE SERA 6.7% 10/01/2007 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 25,000 UNITS AT 105.187 THRULYNCH JONES and RYAN TOTAL 25,000 UNITS CSX TRANSN INC DTD 03/10/1993 SERIES 93-A 6.48% 03/15/2008 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 THRULYNCHOJONESTandARYAN4.181 TOTAL 25,000 UNITS PAGE 58 ACCOUNT # 7062037849 396,359.38 MKT/COST BASIS 25,976.50 25,125.00 25,976.50 25,125.00 400,460.88 399,609.38 MKT/COST GAIN/LOSS 382.75- 468.75 382.75- 468.75 4,101.50- 3,250.00- 51,600.00 51,600.00 26,296.75 26,296.75 26,045.25 26,045.25 51,564.00 49,937.50 51,564.00 49,937.50 26,548.00 24,891.75 26,548.00 24,891.75 25,355.75 25,355.75 25,355.75 25,355.75 36.00 1,662.50 36.00 1,662.50 251.25- 1,405.00 251.25- 1,405.00 689.50 689.50 689.50 689.50 28554/003 62 72 124 5638 0000000785-- • • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 59 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS CREDIT SUISSE FB USA INC DTD 1/11/02 MAKE WHOLE 6.5% 01/15/2012 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 25,000 UNITS AT 109.096 27,274.00 27,374.00 100.00- THRULYNCH JONES and RYAN 25,282.00 1,992.00 TOTAL 25,000 UNITS 27,274.00 27,374.00 100.00- 25,282.00 1,992.00 FIRST UNION CORP DTD 10/22/1993 6% 10/30/2008 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 25,000 UNITS AT 104.594 26,148.50 24,773.25 1,375.25 THRULYNCH JONES and RYAN 24,773.25 1,375.25 TOTAL 25,000 UNITS 26,148.50 24,773.25 1,375.25 24,773.25 1,375.25 GENERAL ELEC CAP CORP DTD 04/30/2003 SERIES MTN CALLABLE 11/15/05/ @ 100 4% 05/15/2015 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 96.55 THRU 48,275.00 50,000.00 1,725.00- LYNCH JONES and RYAN 50,000.00 1,725.00- TOTAL 50,000 UNITS 48,275.00 50,000.00 1,725.00- 50,000.00 1,725.00- MERRILL LYNCH & CO SERIES MTNB DTD 9/26/2003 5.3% 09/30/2015 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 J 28554/003 63 72 124 563B 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFEODIAN PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE TRADE SETTLMT PROCEEDS DATE DATE DESCRIPTION 04/26/2005 04/29/2005 SOLD 50,000 UNITS AT 101.265 50,632.50 THRULYNCH JONES and RYAN TOTAL 50,000 UNITS 50,632.50 PUBLIC SERVICE EL & GAS DTD 01/23/1996 SERIES WW MAKE WHOLE 6.25% 01/01/2007 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 25,000 UNITS AT 103.25 THRULYNCH JONES and RYAN TOTAL 25,000 UNITS VERIZON NEW ENGLAND INC DTD 8/21/01 MAKE WHOLE 6.5% 09/15/2011 TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/26/2005 04/29/2005 SOLD 25,000 UNITS AT 107.5 THRU LYNCH JONES and RYAN TOTAL 25,000 UNITS TOTAL CORPORATE BONDS COMMON STOCKS AMBAC FINANCIAL GROUP, INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 25,812.50 25,812.50 26,875.00 26,875.00 308,959.50 • PAGE 60 ACCOUNT # 7062037849 MKT/COST BASIS 51,066.00 50,800.00 51,066.00 50,800.00 MKT/COST GAIN/LOSS 433.50- 167.50- 433.50- 167.50- 25,000.00 25,000.00 25,000.00 25,000.00 26,940.75 25,218.75 26,940.75 25,218.75 308,621.75 301,259.00 812.50 812.50 812.50 812.50 65.75- 1,656.25 65.75- 1,656.25 337.75 7,700.50 28554/003 64 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 • • SCHEDULE OF REALIZED GAINS & LOSSES PAGE 61 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT DATE DATE DESCRIPTION PROCEEDS MKT/COST BASIS MKT/COST GAIN/LOSS 04/22/2005 04/27/2005 SOLD 600 SHS AT 66.234 THRU 39,726.61 44,766.00 50 42 466 5,039.39- 2 739.89- LYNCH JONES and RYAN . , , TOTAL 600 SHS 39,726.61 44,766.00 5,039.39- 42,466.50 2,739.89- AMERICAN EXPRESS CO COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 1,000 SHS AT 50.434 THRU 50,412.09 50,550.00 00 37 325 137.91- 087.09 13 LYNCH JONES and RYAN , . , 000 SHS TOTAL 1 50,412.09 50,550.00 137.91- , . 37,325.00 13,087.09 AMGEN INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 800 SHS AT 58.81 THRU 47,030.03 46,864.00 403 00 38 166.03 627.03 8 LYNCH JONES and RYAN , . , TOTAL 800 SHS 47,030.03 46,864.00 166.03 38,403.00 8,627.03 AUTODESK INC. TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 1,600 SHS AT 32.86 THRU 52,541.80 51,600.00 941.80 LYNCH JONES and RYAN 47,336.00 5,205.80 TOTAL 1,600 SHS 52,541.80 51,600.00 941.80 47,336.00 5,205.80 CAP ONE FINANCIAL CORP TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 ~ ` 28554/003 65 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT PROCEEDS DATE DATE DESCRIPTION 04/22/2005 04/27/2005 L~NCHIJONESSandTRYAN345 THRU 13,741.11 TOTAL 190 SHS 13,741.11 CHICAGO MERCANTILE EXCHANGE COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 LONDH100NESSandTRYAN~31 THRU TOTAL 100 SHS COACH COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 L~NCH2JONESSand RYANS 827 THRU TOTAL 2,000 SHS CONOCOPHILLIPS COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 L~NCH2JONESSandTRYAN 776 THRU TOTAL 250 SHS COSTCO WHOLESALE CORP COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 17,028.28 17,028.28 • 51,611.84 51,611.84 26,687.88 26,687.88 PAGE 62 ACCOUNT # 7062037849 MKT/COST BASIS 13,955.50 9,030.29 13,955.50 9,030.29 MKT/COST GAIN/LOSS 214.39- 4,710.82 214.39- 4,710.82 17,485.00 19,736.00 17,485.00 19,736.00 52,120.00 40,079.00 52,120.00 40,079.00 26,137.50 27,360.00 26,137.50 27,360.00 456.72- 2,707.72- 456.72- 2,707.72- 508.16- 11,532.84 508.16- 11,532.84 550.38 672.12- 550.38 672.12- • 26554/003 66 72 124 5638 0000000765-- SALEM TRUST C () M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 • • SCHEDULE OF REALIZED GAINS & LOSSES PAGE 63 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS 04/22/2005 04/27/2005 SOLD 1,000 SHS AT 39.98 THRU 39,958.32 43,890.00 3,931.68- LYNCH ]ONES and RYAN 48,380.00 8,421.68- TOTAL 1,000 SHS 39,958.32 43,890.00 3,931.68- 48,380.00 8,421.68- DELL INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 1,100 SHS AT 36.45 THRU 40,071.32 39,182.00 889.32 LYNCH )ONES and RYAN 31,810.99 8,260.33 TOTAL 1,100 SHS 40,071.32 39,182.00 889.32 31,810.99 8,260.33 EBAY INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 1,200 SHS AT 32.35 THRU 38,794.37 38,604.00 190.37 LYNCH JONES and RYAN 41,076.00 2,281.63- TOTAL 1,200 SHS 38,794.37 38,604.00 190.37 41,076.00 2,281.63- FEDEX CORP COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 600 SH S AT 85.92 THRU 51,537.84 51,030.00 507.84 LYNCH )ONES and RYAN 50,534.00 1,003.84 TOTAL 600 SHS 51,537.84 51,030.00 507.84 50,534.00 1,003.84 GENERAL ELEC CO COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 ~ ~~~ 28554/003 67 72 124 5638 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THETHROU~H 04%0/2005 SCHEDULE OF REALIZED GAINS & LOSSES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT PROCEEDS DATE DATE DESCRIPTION 04/22/2005 04/27/2005 ~~NDHI~~NESSand RYAN6'll THRU 50,523.88 TOTAL 1,400 SHS 50,523.88 • HARMAN INTERNATIONAL COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 31,630.67 04/22/2005 04/27/2005 LONDH4000NESSandTRYANI THRU TOTAL 400 SHS 31,630.67 INFOSYS TECHNOLOGIES -SP ADR COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 50,203.90 04/22/2005 04/27/2005 L~NCH80ONESSandTRYAN778 THRU TOTAL 800 SHS 50,203.90 L-3 COMMUNICATIONS HLDGS INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 49,659.91 04/22/2005 04/27/2005 ~~N~H70ONESSandTRYAN966 THRU TOTAL 700 SHS 49,659.91 LEGG MASON INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 PAGE 64 ACCOUNT # 7062037849 MKT/COST BASIS 50,400.00 47,405.50 50,400.00 47,405.50 MKT/COST GAIN/LOSS 123.88 3,118.38 123.88 3,118.38 34,420.00 37,604.00 34,420.00 37,604.00 66,720.00 52,296.00 66,720.00 52,296.00 48,979.00 44,482.00 48,979.00 44,482.00 2,789.33- 5,973.33- 2,789.33- 5,973.33- 16,516.10- 2,092.10- 16,516.10- 2,092.10- 680.91 5,177.91 680.91 5,177.91 • 28554/003 68 72 124 5638 0000000785-- • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 65 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS 04/22/2005 04/27/2005 SOLD 300 SHS AT 71.923 THRU 21,570.08 21,882.00 311.92- LYNCH ]ONES and RYAN 23,767.00 2,196.92- TOTAL 300 SHS 21,570.08 21,882.00 311.92- 23,767.00 2,196.92- LOWES COMPANIES INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 1,000 SHS AT 52.03 THRU 52,007.82 52,600.00 592.18- LYNCH JONES and RYAN 48,416.14 3,591.68 TOTAL 1,000 SHS 52,007.82 52,600.00 592.18- 48,416.14 3,591.68 MEDTRONIC INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 900 SHS AT 51.113 THRU 45,982.04 45,738.00 244.04 LYNCH JONES and RYAN 29,136.00 16,846.04 TOTAL 900 SHS 45,982.04 45,738.00 244.04 29,136.00 16,846.04 MOODY'S CORPORATION COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 600 SHS AT 81.832 THRU 49,084.96 48,894.00 190.96 LYNCH JONES and RYAN 29,140.66 19,944.30 TOTAL 600 SHS 49,084.96 48,894.00 190.96 29,140.66 19,944.30 PULTE CORP TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 28554/003 69 72 124 5636 0000000785-- ~~ • • ~~ ~~ ~~ SALEM TRUST C U M P A N Y ~~ Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 66 THROUGH 04/30/2005 SALFORTTEQUES~APPUBLIC SAFETYIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS 04/22/2005 04/27/2005 SOLD 325 SHS AT 69.994 THRU 22,740.53 25;880:00 3,031.72- LYNCH ]ONES and RYAN TOTAL 325 SHS 22,740.53 22,880.00 139.47- 25,772.25 3,031.72- SMITH INTL INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 800 SHS AT 61.444 THRU 49,135.94 47,488.00 1,647.94 LYNCH JONES and RYAN 45,600.00 3,535.94 TOTAL 800 SHS 49,135.94 47,488.00 1,647.94 45,600.00 3,535.94 STARBUCKS CORP COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 1,000 SHS AT 46.03 THRU 46,008.07 29,28.99 16,726.08 LYNCH JONES and RYAN TOTAL 1,000 SHS 46,008.07 46,220.00 211.93- 29,281.99 16,726.08 STRYKER CORP COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 1,000 SHS AT 48.897 THRU 48,874.95 36,066 .0 12,808.45 LYNCH JONES and RYAN TOTAL 1,000 SHS 48,874.95 46,600.00 2,274.95 36,066.50 12,808.45 TARGET CORP COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 28554/003 70 72 124 5638 0000000785-- • • SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 67 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS 04/22/2005 04/27/2005 SOLD 1,000 SHS AT 46.668 THRU 46,646.04 47,890.00 1,243.96- LYNCH JONES and RYAN 50,916.80 4,270.76- TOTAL 1,000 SHS 46,646.04 47,890.00 1,243.96- ' 50,916.80 4,270.76- TOLL BROTHERS INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 300 SHS AT 73.643 THRU 22,086.06 22,650.00 563.94- LYNCH JONES and RYAN 25,039.00 2,952.94- TOTAL 300 SHS 22,086.06 22,650.00 563.94- 25,039.00 2,952.94- UNITEDHEALTH GROUP INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 550 SHS AT 91.745 THRU 50,446.37 51,260.00 813.63- LYNCH JONES and RYAN 49,019.00 1,427.37 TOTAL 550 SHS 50,446.37 51,260.00 813.63- 49,019.00 1,427.37 WACHOVIA CORP COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 1,000 SHS AT 50.58 THRU 50,557.88 50,270.00 287.88 LYNCH ]ONES and RYAN 37,819.00 12,738.88 TOTAL 1,000 SHS 50,557.88 50,270.00 287.88 37,819.00 12,738.88 MARVELL TECHNOLOGY GROUP LTD COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 '~--- 28554/003 71 72 124 563B 0000000785-- .. • • SALEM TRUST C O M P A N Y Post Oftice Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 68 THROUGH 04/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS 04/22/2005 04/27/2005 SOLD 1,600 SHS AT 34.6 THRU 55,325.68 54,448.00 877.68 LYNCH ]ONES and RYAN 35,916.00 19,409.68 TOTAL 1,600 SHS 55,325.68 54,448.00 877.68 35,916.00 19,409.68 ALCON INC COM TOTAL ACTIVITY FROM 04/01/2005 TO 04/30/2005 04/22/2005 04/27/2005 SOLD 600 SHS AT 93.855 THRU 56,298.64 52,440.00 3,858.64 LYNCH JONES and RYAN 46,865.00 9,433.64 TOTAL 600 SHS 56,298.64 52,440.00 3,858.64 46,865.00 9,433.64 TOTAL COMMON STOCKS 1,267,924.91 1,287,963.00 20,038.09- 1,128,079.62 139,845.29 TOTAL REALIZED GAINS & LOSSES 2,177,650.47 2,201,452.31 23,801.84- , 2,033,354.68 144,295.79 28554/003 72 72 124 5636 0000000785-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 04/01/2005 THROUGH 04/30/2005 BROKER NAME LYNCH JONES and RYAN TOTAL SCHEDULE OF BROKERAGE COMMISSIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE NON-DIRECTED AS AGENT AS PRINCIPAL 1,349.30 1,349.30 0.00 • PAGE 69 ACCOUNT # 7062037849 DIRECTED AS AGENT AS PRINCIPAL 0.00 0.00 • `~...~ I 05310/003 1 2d 154 563tl UUUUUUUZZtl S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 0000000226 I~~II~~~II~~I~~I~II~~I~I~~~I~I~I VILLAGE OF TEQUESTA ATTN: GWEN CARLISLE 250 TEQUESTA DRIVE SUITE 300 TEQUESTA FL 33469-0273 1 U00 ~UlwO [ GO ~0h 0000 VVVwwccV 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 YOUR ADMINISTRATIVE OFFICER IS: KAREN M RUSSO / )C 954-426-5770 TRUST ACCOUNTING STATEMENT FOR THE PERIOD FROM 05/01/2005 TO 05/31/2005 7062037849 SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: )ODY FORSYTHE VILLAGE OF TEQUESTA ATTN: GWEN CARLISLE 250 TEQUESTA DRIVE SUITE 300 TEQUESTA FL 33469-0273 PLEASE CONTACT YOUR ACCOUNT ADMINISTRATOR AT THE NUMBER LISTED ABOVE SHOULD YOU HAVE ANY QUESTIONS CONCERNING YOUR ACCOUNT. i Vb:71 U/UV.7 3 Ytl I'4 70•+O VVVVVVVCCv S SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 TABLE OF CONTENTS THROUGH 05/31/2005 SALFORTTEQUES~APPUBLIC SAFEODIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE SUMMARY OF ACCOUNT ACTIVITY ...........:............................. 1 BALANCE SHEET ....................................................... 2 SUMMARY OF EARNINGS ................................................. 3 INVESTMENT REVIEW ........................... ........................ 5 SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS .. ........................ 10 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS ...... ........................ 11 SCHEDULE OF INCOME .......................... ........................ 16 SCHEDULE OF PURCHASES ....................... ........................ 21 SCHEDULE OF REALIZED GAINS & LOSSES ......... ........................ 22 SCHEDULE OF BROKERAGE COMMISSIONS ........... ........................ 24 SCHEDULE OF FEES AND OTHER EXPENSES ......... ........................ 25 05310/003 4 26 154 5838 0000000226-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 MARKET VALUE AS OF 05/01/2005 GAIN AND LOSS DIVIDENDS INTEREST LESS BEGINNING ACCRUED INCOME ACCRUED INCOME REALIZED GAIN OR LOSS UNREALIZED GAIN OR LOSS TOTAL GAIN AND LOSS SUMMARY OF ACCOUNT ACTIVITY SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE RECEIPTS EMPLOYER EMPLOYEE TOTAL RECEIPTS DISBURSEMENTS OTHER EXPENSES TOTAL DISBURSEMENTS 1,196.40 4,158.58 6,951.60- 8,450.86 624.46- 78,639.99 10,545.22 5,794.65 7,315.87- 84,869.77 16,339.87 7,315.87- PAGE 1 ACCOUNT # 7062037849 2,437,049.69 TOTAL MARKET VALUE AS OF 05/31/2005 2,530,943.46 05310/003 5 28 154 5638 OOOODUU226-- 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 CASH DUE FROM BROKERS ACCRUED INCOME TOTAL CASH & RECEIVABLES CASH AND EQUIVALENTS MONEY MARKET FUNDS TOTAL CASH AND EQUIVALENTS FIXED INCOME U.S. OBLIGATIONS FEDERAL AGENCIES FEDERAL AGENCIES - MORTGAGE BACK TOTAL FIXED INCOME EQUITIES COMMON STOCKS TOTAL EQUITIES TOTAL HOLDINGS TOTAL ASSETS DUE TO BROKERS TOTAL LIABILITIES TOTAL NET ASSET VALUE TOTAL LIABILITIES AND EQUITY BALANCE SHEET PAGE 2 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE AS OF 05/01/2005 AS OF 05/31/2005 COST VALUE MARKET VALUE COST VALUE MARKET VALUE - - - - - - - - - - - - - -ASSETS - - - - - - - - - - - - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 6,951.60 6,951.60 8,450.86 8,450.86 6,951.60 6,951.60 8,450.86 8,450.86 71,693.05 71,693.05 213,736.72 286,537.44 469,534.55 969,808.71 71,693.05 71,693.05 213,786.60 286,190.15 465,264.59 965,241.34 19,829.75 19,829.75 253,194.53 286,537.44 457,888.62 997,620.59 19,829.75 19,829.75 253,810.70 288,102.80 454,816.25 996,729.75 1,409,616.38 1,393,163.70 1,447,422.32 1,505,933.10 1,409,616.38 1,393,163.70 1,447,422.32 1,505,933.10 2,451,118.14 2,430,098.09 2,464,872.66 2,522,492.60 2,458,069.74 2,437,049.69 2,473,323.52 2,530,943.46 - - - - - - - - - - - - L I A B I L I T I E S - - - - - - - - - - - 0.00 0.00 0.00 0.00 2,458,069.74 2,437,049.69 2,473,323.52 2,530,943.46 2,458,069.74 2,437,049.69 2,473,323.52 2,530,943.46 0 5 3 1 0100 3 B 28 154 5838 0000000226-- ~~" ,y SALEM TRUST C O M P A N Y Post Office i3ox 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 SUMMARY OF EARNINGS PAGE 3 THROUGH 05/31/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CONTRIBUTIONS EMPLOYER 10,545.22 EMPLOYEE 5,794.65 TOTAL CONTRIBUTIONS 16,339.87 INCOME EARNED DIVIDENDS 2,946.61 INTEREST 3,907.63 TOTAL INCOME EARNED 6,854.24 UNREALIZED GAIN IN THE PERIOD 78,639.99 TOTAL INCREASES IN FUND VALUE 101,834.10 05310/003 7 28 154 5630 UUUUUUUZZa SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 SUMMARY OF EARNINGS THROUGH 05/31/2005 SALEM TRUST COMPANY AS CUSTODIAN PAGE 4 ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE FEES AND OTHER EXPENSES OTHER EXPENSES 7,315.87 TOTAL FEES AND OTHER EXPENSES 7,315.87 REALIZED LOSS FROM DISPOSITION OF ASSETS 624.46 TOTAL DECREASES IN FUND VALUE 7,940.33 NET CHANGE IN NET ASSET VALUE 93,893.77 CALCULATION OF UNREALIZED GAIN/LOSS: MARKET VALUE OF ASSETS AT END OF PERIOD 2,522,492.60 LESS COST AT END OF PERIOD 2,464,872.66 PLUS BEGINNING COST OF ASSETS 2,451,118.14 LESS BEGINNING MARKET VALUE OF ASSETS 2,430,098.09 EQUALS UNREALIZED GAIN/LOSS IN THE PERIOD 78,639.99 MARKET VALUE AND COST FIGURES DO NOT INCLUDE CASH AND ACCRUED INCOME 05310/003 8 28 154 56380000000226-- 5 SALEM TRUST C O M P A N Y Post ONice Box 30010 Durham, NC 27702 INVESTMENT REVIEW FOR THE ACCOUNT OF PAGE 5 SALEM TRUST COMPANY AS CUSTODIAN ACCT 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND ASSETS HELD 05/31/2005 VILLAGE OF TEQUESTA VALUED AS OF 05/31/2005 ATTN: JODY FORSYTHE INVESTMENT OFFICER..........ROCKWOOD CAPITAL ADVISORS, LLCINVESTMENT OBJECTIVE........ ADMINISTRATIVE OFFICER......KAREN M RUSSO / JC INVESTMENT AUTHORITY........NONE TRUST TAX FILING STATUS..... INVESTMENT RESPONSIBILITY...RESTRICTED TRUST TAX YEAR END.......... ACCOUNT TYPE ................EMPLOYEE BENEFIT-CUSTODIAN GAINS TAXED TO .............. DATE FUNDED.................04/06/2005 INCOME TAXED TO ............. REVIEW CYCLE................ TRUST ADJUSTED TAX BRACKET.. PREVIOUS MARKET VALUE....... TRUST SITUS .................FLORIDA PREVIOUS MARKET VALUE DATE.. BEGIN TERMINATION........... TRANSFER TO PRINCIPAL....... FINAL TERMINATION........... GREENHILL PARTICIPANT.......NO ACCOUNT RESTRICTIONS: SIMS MODEL # ................ SIMS MODEL FREQUENCY........ TAX LOSS CARRYFORWARD SHORT TERM TAX LOSS CARRYFORWARD 05310/003 9 28 154 5638 0000000226-- 5 SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 CATEGORY CASH & CASH EQUIVALENTS FIXED INCOME EQUITY TOTAL FUND SUMMARY OF INVESTMENTS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE PAGE 6 ACCT 7062037849 ASSETS HELD 05/31/2005 VALUED AS OF 05/31/2005 ESTIMATED ANNUAL CURRENT MARKET VALUE % INCOME YIELD 28,280.61 1.12 494 1.75 996,729.75 39.38 49,361 4.95 1,505,933.10 ------------ 59.50 ------ 28,404 --------- 1.89 ------- 2,530,943.46 100.00 78,258 3.09 05310/003 10 28 154 5638 0000000226-- S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 SCHEDULE OF INVESTMENTS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE SHARES OR FACE VALUE DESCRIPTION CASH & CASH EQUIVALENTS _______________________ ACCRUED INCOME 19,829.75 GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 TOTAL CASH & CASH EQUIVALENTS TICKER CUSIP 469 38141W315 The prices shown on these pages represent the most recent price evaluation available on the last business day of the statement period, normally the last trade price or the bid price in the case of over-the-counter quotations. Where no regular market exists, prices shown are estimates by sources we consider reliable. Price evaluations are obtained from outside parties. While the prices are obtained from sources we consider reliable we cannot guarantee them. PAGE 7 ACCT 7062037849 ASSETS HELD 05/31/2005 VALUED AS OF 05/31/2005 CURRENT CURRENT TAX COST PRICE DT PRICE MARKET % OF VALUE GROUP 8,451 19,830 -------------- 28, 281° 8,450.86 29.88 19,829.75 70.12 ----------------- ------- $28,280.61 100.00% FIXED INCOME 40,000 UNITED STS TREAS NOTES DTD 912828CF5 39,586 06/01/2005 98.977 39,590.80 3.97 40,000 4/30/04 2.25% 04/30/2006 UNITED STS TREAS NOTES DTD 912828CW8 39,458 06/01/2005 98.688 39,475.20 3.96 50,000 9/30/04 2.5% 09/30/2006 FEDERAL HOME LOAN MORTGAGE CORP 3134A4RH9 50,779 06/01/2005 99.469 49,734.50 4.99 100,000 DTD 9/16/02 3.5% 09/15/2007 UNITED STS TREAS NOTES DTD 912828AN0 98,332 06/01/2005 98.598 98,598.00 9.89 25,000 11/15/02 3% 11/15/2007 FEDERAL HOME LOAN BANK DTD 3133MLT88 24,800 06/01/2005 104.406 26,101.50 2.62 50,000 2/15/02 5.25% 02/13/2009 FEDERAL HOME LOAN BANK DTD 3133X15Y9 50,000 06/01/2005 100.031 50,015.50 5.02 09/08/2003 SERIES X209 CALLABLE 9/30/05 @ PAR 4.1% 03/30/2009 70,000 UNITED STATES TREASURY NOTES DTD 9128275N8 75,819 06/01/2005 108.781 76,146.70 7.64 105,000 08/15/99 6% 08/15/2009 FEDERAL NATIONAL MORTGAGE ASSN 31359MHK2 110,959 06/01/2005 106.906 112,251.30 11.26 DTD 03/26/2001 5.5% 03/15/2011 50,000 FEDERAL HOME LOAN BANK DTD 3133X8RQ7 50,000 06/01/2005 100.00 50,000.00 5.02 09/17/2004 CALLABLE 4/25/2005 @ 100 4.7% 10/14/2011 99,818.35 GNSF POOL# 599190 DTD 3/1/05 6% 36200EUP4 103,686 05/31/2005 103.367 103,179.23 10.35 03/15/2035 139,281.93 GNSF POOL# 640208 DTD 3/1/05 36291WGR6 147,334 05/31/2005 104.816 145,989.75 14.65 6.5% 03/15/2035 119,836.53 GNSF POOL# 640896 DTD 4/1/05 7% 36291W7H8 128,787 05/31/2005 105.984 127,007.55 12.74 04/15/2035 79,827.55 GNSF POOL# 641273 DTD 4/1/05 36291XMW6 78,081 05/31/2005 98.512 78,639.72 7.89 4.5% 04/15/2035 TOTAL FIXED INCOME --- ----------- 997,621' --- -------------- $996,729.75 ------- 100.00% I VJJIVIVVJ I I GV ,VY VVV~vvVVVVVCCv 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 SCHEDULE OF INVESTMENTS PAGE 8 SALEM TRUST COMPANY AS CUSTODIAN ACCT 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND ASSETS HELD 05/31/2005 VILLAGE OF TEQUESTA VALUED AS OF 05/31 /2005 ATTN: JODY FORSYTHE SHARES OR CURRENT CURRENT MARKET % OF FACE VALUE DESCRIPTION TICKER CUSIP TAX COST PRICE DT PRICE VALUE GROUP EQUITY 620 APACHE CORP APA 037411105 36,574 06/01/2005 58.76 36,431.20 2.42 970 APARTMENT INVT & MGMT CO-A REIT AIV 037488101 37,806 06/01/2005 37.10 35,987.00 2.39 900 BALL CORP COM BLL 058498106 36,332 06/01/2005 37.55 33,795.00 2.24 620 BOEING CO COM BA 097023105 36,318 06/01/2005 63.90 39,618.00 2.63 510 CAP ONE FINANCIAL CORP COF 14040H105 24,239 06/01/2005 75.40 38,454.00 2.55 730 CARNIVAL CORP CLASS A COMMON CCL 143658300 36,775 06/01/2005 52.90 38,617.00 2.56 400 PAIRED STOCK CATERPILLAR TRACTOR CO COM CAT 149123101 35,812 06/01/2005 94.11 37,644.00 2.50 090 3 CENTERPOINT ENERGY INC COM CNP 151897107 36,647 06/01/2005 12.26 37,883.40 2.52 , 1 790 CHESAPEAKE ENERGY COM CHK 165167107 36,695 06/01/2005 20.47 36,641.30 2.43 , 560 DEERE AND CO COM DE 244199105 36,294 06/01/2005 66.15 37,044.00 2.46 1 820 DEUTSCHE TELEKOM AG-SPON ADR COM DT 251566105 34,984 06/01/2005 18.65 33,943.00 2.25 , 800 DOW CHEM CO COM DOW 260543103 36,390 06/01/2005 45.29 36,232.00 2.41 540 3 El PASO CORP COM EP 28336L109 36,745 06/01/2005 10.34 36,603.60 2.43 , 500 ENTERGY CORP ETR 293646103 36,010 06/01/2005 71.83 35,915.00 2.38 690 FASTENAL CO COM FAST 311900104 36,729 06/01/2005 58.12 40,102.80 2.66 3 080 GOODYEAR TIRE & RUBR CO COM GT 382550101 36,110 06/01/2005 14.39 44,321.20 2.94 , 980 GRACO INC COM GGG 384109104 35,897 06/01/2005 34.89 34,192.20 2.27 840 HALLIBURTON CO COM HAL 406216101 36,937 06/01/2005 42.74 35,901.60 2.38 1 020 INDYMAC BANCORP INC COM NDE 456607100 36,842 06/01/2005 41.15 41,973.00 2.79 , 100 1 LANDSTAR SYSTEM INC COM LSTR 515098101 36,069 06/01/2005 33.76 37,136.00 2.47 , 610 LOCKHEED MARTIN CORP COM LMT 539830109 36,136 06/01/2005 64.89 39,582.90 2.63 510 LOEWS CORP COM LTR 540424108 36,449 06/01/2005 75.30 38,403.00 2.55 1 050 MCCORMICK & CO COM NON VTG SHS MKC 579780206 36,539 06/01/2005 33.84 35,532.00 2.36 , 050 1 P G & E CORP COM PCG 693310108 36,722 06/01/2005 35.77 37,558.50 2.49 , 480 PRECISION CASTPARTS CORP COM PCP 740189105 36,182 06/01/2005 77.73 37,310.40 2.48 960 PROTECTIVE LIFE PROTECTIVE LIFE PL 743674103 37,022 06/01/2005 40.19 38,582.40 2.56 780 CORP ROCKWELL COLLINS COM COL 774341101 36,356 06/01/2005 49.39 38,524.20 2.56 1,760 SCHERING PLOUGH CORP COM SGP 806605101 36,504 06/01/2005 19.50 34,320.00 2.28 590 SIMON PROPERTY GROUP INC COM SPG 828806109 36,757 06/01/2005 68.72 40,544.80 2.69 1 580 SPRINT CORP COM FON 852061100 36,358 06/01/2005 23.69 37,430.20 2.49 , 1 280 SWIFT ENERGY CO COM SFY 870738101 37,461 06/01/2005 34.15 43,712.00 2.90 , 1,040 TELECOM CORP NEW ZEALAND LTD NZT 879278208 36,806 06/01/2005 33.54 34,881.60 2.32 910 SPONSORED ADR TEREX CORP COM TEX 880779103 36,243 06/01/2005 39.52 35,963.20 2.39 980 TIMERLAND COMPANY-CL A COM TBL 887100105 36,412 06/01/2005 36.86 36,122.80 2.40 850 TORO CO COM TTC 891092108 36,017 06/01/2005 43.05 36,592.50 2.43 250 1 VERISIGN INC COM VRSN 92343E102 36,922 06/01/2005 32.22 40,275.00 2.67 , 850 VOLVO AB-SPONSORED ADR VOLV 928856400 37,111 06/01/2005 40.80 34,680.00 2.30 2,080 WORTHINGTON INDUSTRIES INC COM WOR 981811102 35,842 06/01/2005 16.76 34,860.80 2.31 700 BUNGE LIMITED COM BG 616962105 36,414 06/01/2005 62.04 43,428.00 2.88 ,~..-...m.- .. _ _. 05310/003 12 26 154 5638 0000000226-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 SCHEDULE OF INVESTMENTS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE SHARES OR FACE VALUE 850 DESCRIPTION TICKER CUSIP ROYAL CARIBBEAN CRUISES LTD COM RCL V7780T103 TOTAL EQUITY TOTAL FUND PAGE 9 ACCT 7062037849 ASSETS HELD 05/31/2005 VALUED AS OF 05/31/2005 CURRENT CURRENT TAX COST PRICE DT PRICE 36,965 06/01/2005 46.11 -------------- 1,447,423'° MARKET % OF VALUE GROUP 39,193.50 2.60 ----------------- ------- $1,505,933.10 100.00% -------------- 2,473,325'° ----------------- ------- $2,530,943.46 100.00% 05310/003 13 28 154 5638 0000000226-- 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS THROUGH 05/31/2005 SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE ~ R E C E I P T S CASH BALANCE AS OF 05/01/2005 CONTRIBUTIONS EMPLOYER EMPLOYEE TOTAL CONTRIBUTIONS INCOME RECEIVED DIVIDENDS INTEREST TOTAL INCOME RECEIPTS PROCEEDS FROM THE DISPOSITION OF ASSETS TOTAL RECEIPTS 10,545.22 5,794.65 16,339.87 1,196.40 4,158.58 5,354.98 95,334.96 D I S B U R S E M E N T S FEES AND OTHER EXPENSES OTHER EXPENSES TOTAL FEES AND OTHER EXPENSES COST OF ACQUISITION OF ASSETS TOTAL DISBURSEMENTS 7,315.87 7,315.87 109,713.94 PAGE 10 ACCOUNT # 7062037849 0.00 117,029.81 117,029.81 CASH BALANCE AS OF 05/31/2005 0.00 05310/003 14 28 154 5638 0000000226-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 11 THROUGH 05/31/2005 SALFORTTEQUES~APPUBLIC SAFEODIAN ACCOUNT # 7062037849 PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH COST 05/01/2005 BEGINNING BALANCE 6,951.60 2,451,118.14 05/01/2005 LESS BEGINNING INCOME ACCRUAL 6,951.60- 05/02/2005 DEPOSIT GOLDMAN SACHS FIN SQ 750.00- 750.00 TREASURY OBLIB ADMIN FUND #469 05/02/2005 INTEREST ON 40,000 UNITS UNITED 450.00 0.00 STS TREAS NOTES DTD 4/30/04 2.25% 04/30/2006 PAYABLE 04/30/2005 05/02/2005 DEPOSIT GOLDMAN SACHS FIN SQ 450.00- 450.00 TREASURY OBLIB ADMIN FUND #469 05/02/2005 DIVIDEND ON GOLDMAN SACHS FIN SQ 63.87 0.00 TREASURY OBLIB ADMIN FUND #469 PAYABLE 04/30/2005 05/03/2005 DEPOSIT GOLDMAN SACHS FIN SQ 63.87- 63.87 TREASURY OBLIB ADMIN FUND #469 05/03/2005 RECEIVED 2-FOR-1 STK SPLIT 490 0.00 0.00 SHS TIMERLAND COMPANY-CL A COM 05/03/2005 WITHDRAWAL GOLDMAN SACHS FIN SQ 750.00 750.00- TREASURY OBLIB ADMIN FUND #469 05/06/2005 RECEIVED FROM VILLAGE OF 2,855.30 0.00 TEQUESTA EMPLOYEE CONT. PPE 4-30-05 05/06/2005 RECEIVED FROM VILLAGE OF 5,195.22 0.00 TEQUESTA EMPLOYER CONT. PPE 4-30-05 05/06/2005 DEPOSIT GOLDMAN SACHS FIN SQ 8,050.52- 8,050.52 TREASURY OBLIB ADMIN FUND #469 05/10/2005 PURCHASED 970 SHS APARTMENT INVT 37,805.94- 37,805.94 & MGMT CO-A REIT ON 05/10/2005 AT 38.955 THRU LYNCH JONES and RYAN COMMISSIONS PAID 19.40 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS THROUGH 05/31/2005 SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH 05/13/2005 WITHDRAWAL GOLDMAN SACHS FIN SQ 37,805.94 TREASURY OBLIB ADMIN FUND #469 05/16/2005 INTEREST ON 99,909.44 UNITS GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 PAYABLE 05/15/2005 ORIGINAL FACE VALUE 100,000.00 3934 RADIUS CAPITAL CORPORATIO 05/16/2005 PAYMENT ON 99,909.44 UNITS GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 ORIGINAL FACE VALUE 100,000.00 3934 RADIUS CAPITAL CORPORATIO 05/16/2005 INTEREST ON 120,000 UNITS GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 PAYABLE 05/15/2005 ORIGINAL FACE VALUE 120,000.00 3907 COUNTRYWIDE HOME LOANS SE 05/16/2005 PAYMENT ON 120,000 UNITS GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 ORIGINAL FACE VALUE 120,000.00 3907 COUNTRYWIDE HOME LOANS SE 05/16/2005 INTEREST ON 149,876.39 UNITS GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 PAYABLE 05/15/2005 ORIGINAL FACE VALUE 150,000.00 3907 COUNTRYWIDE HOME LOANS SE 05/16/2005 PAYMENT ON 149,876.39 UNITS GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 ORIGINAL FACE VALUE 150,000.00 3907 COUNTRYWIDE HOME LOANS SE 05/16/2005 F~L#E6412738DTD 4/1/05S4G5%F 04/15/2035 PAYABLE 05/15/2005 ORIGINAL FACE VALUE 80,000.00 2572 NATIONAL CITY MORTGAGE CO 499.55 91.09 700.00 163.47 811.83 10,594.46 300.00 PAGE 12 ACCOUNT # 7062037849 COST 37,805.94- 0.00 94.62- 0.00 175.68- 0.00 11,206.95- 0.00 05310/003 16 28 154 5638 0000000226-- S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 05/16/2005 PAYMENT ON 80,000 UNITS GNSF POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 ORIGINAL FACE VALUE 80,000.00 2572 NATIONAL CITY MORTGAGE CO 05/16/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 05/16/2005 STSETREASONOTES~DTD 11/15/0213% 11/15/2007 PAYABLE 05/15/2005 05/16/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 05/20/2005 DIVIDEND ON 510 SHS CAP ONE FINANCIAL CORP AT .02666 PER SHARE PAYABLE 05/20/2005 EX DATE 05/06/2005 05/20/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 05/23/2005 RECEIVED FROM VILLAGE OF TEQUESTA EMPLOYEE CONT. PPE 5-14-05 05/23/2005 RECEIVED FROM VILLAGE OF TEQUESTA EMPLOYER CONT PPE5-14-05 05/23/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 05/27/2005 WITHDRAWAL GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 05/27/2005 MISCELLANEOUS EXPENSE PAID TO HANSON PERRY & JENSEN, P.A. LEGAL SVCS. PUBLIC SAFETY OFF. MARCH & APRIL 2005 172.45 13,332.85- 1,500.00 1,500.00- 13.60 13.60- 2,939.35 5,350.00 8,289.35- 7,315.87 3,635.87- PAGE 13 ACCOUNT # 7062037849 COST 168.68- 13,332.85 0.00 1,500.00 0.00 13.60 0.00 0.00 8,289.35 7,315.87- 0.00 05310/003 17 2(j 154 5638 0000000226-- 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 05/27/2005 MISCELLANEOUS EXPENSE PAID TO NORTHSTAR CAPITAL MGMT.INC. FINAL BILL INV. MGMT SVCS. 05/27/2005 MISCELLANEOUS EXPENSE PAID TO BUSINESS SERVICES CONNECTION, INC PREPARE MINUTES OF 2-18-05 MTG AND 3-14-05 05/27/2005 MISCELLANEOUS EXPENSE PAID TO BOGDAHN CONSULTING LLC MONITORING SERVICES QTRLY FEE 1-05/3-31-05 05/27/2005 PURCHASED 40,000 UNITS UNITED STS TREAS NOTES DTD 9/30/04 2.5% 09/30/2006 ON 05/27/2005 AT 98.6445 THRU DEUTSCHE BANC ALEX. BROWN INC. 05/27/2005 MISCELLANEOUS EXPENSE PAID TO GABRIEL, ROEDER, SMITH & COMPANY 3-15-05 ACTUARIAL STATEMENT 05/31/2005 DIVIDEND ON 1,760 SHS SCHERING PLOUGH CORP COM AT .055 PER SHARE PAYABLE 05/31/2005 EX DATE 05/04/2005 05/31/2005 DIVIDEND ON 590 SHS SIMON PROPERTY GROUP INC COM AT 0.70 PER SHARE PAYABLE 05/31/2005 EX DATE 05/13/2005 05/31/2005 DIVIDEND ON 700 SHS BUNGE LIMITED COM AT 0.13 PER SHARE PAYABLE 05/31/2005 EX DATE 05/13/2005 05/31/2005 DIVIDEND ON 970 SHS APARTMENT INVT & MGMT CO-A REIT AT 0.60 PER SHARE PAYABLE 05/31/2005 EX DATE 05/18/2005 230.00- 354.00- 2,000.00- 39,457.81- 1,096.00- 96.80 413.00 91.00 582.00 PAGE 14 ACCOUNT # 7062037849 COST 0.00 0.00 0.00 39,457.81 0.00 0.00 0.00 0.00 0.00 05310/003 18 28 1 54'S69B 0000000226-- S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE CASH 05/31/2005 ACCRUED INTEREST PAID 40,000 UNITS UNITED STS TREAS NOTES DTD 9/30/04 2.5% 09/30/2006 05/31/2005 WITHDRAWAL GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 05/31/2005 ENDING INCOME ACCRUAL 05/31/2005 ENDING BALANCE 166.67- 38,441.68 8,450.86 8,450.86 PAGE 15 ACCOUNT # 7062037849 COST 0.00 38,441.68- 2,464,872.66 o53toiuo3 to la t5a oa:~es uuuuuuureo-- SALEM TRUST C O M P A N Y Post Office f3ox 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 DATE DESCRIPTION DIVIDENDS -- CUSIP # 037488101 APARTMENT INVT & MGMT CO-A REIT SECURITY TOTAL CUSIP # 058498106 BALL CORP COM SECURITY TOTAL CUSIP # 097023105 BOEING CO COM SECURITY TOTAL CUSIP # 14040H105 CAP ONE FINANCIAL CORP SECURITY TOTAL CUSIP # 143658300 CARNIVAL CORP CLASS A COMMON PAIRED STOCK SECURITY TOTAL CUSIP # 293646103 ENTERGY CORP SECURITY TOTAL CUSIP # 406216101 HALLIBURTON CO COM SECURITY TOTAL SCHEDULE OF INCOME PAGE 16 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ RECEIVABLE RECEIVED RECEIVABLE INCOME EARNED 0.00 582.00 0.00 582.00 0.00 0.00 0.00 0.00 90.00 90.00 0.00 0.00 0.00 0.00 155.00 155.00 0.00 0.00 0.00 13.60 0.00 13.60 0.00 0.00 0.00 0.00 146.00 146.00 0.00 0.00 0.00 0.00 270.00 270.00 0.00 0.00 0.00 0.00 105.00 105.00 0.00 0.00 m., .~_.......,..__ ,.... ,~ _... _ . _.. 05310/003 20 28 154 5636 0000000226-- ~~ SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 SCHEDULE OF INCOME PAGE 17 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ~ ENDING ACCRUAL/ CASH ACCRUAL/ DATE DESCRIPTION RECEIVABLE RECEIVED RECEIVABLE CUSIP # 456607100 INDYMAC BANCORP INC COM SECURITY TOTAL 0.00 0.00 387.60 0.00 0.00 CUSIP # 539830109 LOCKHEED MARTIN CORP COM SECURITY TOTAL 0.00 0.00 152.50 0.00 0.00 CUSIP # 540424108 LOEWS CORP COM SECURITY TOTAL 0.00 0.00 76.50 0.00 0.00 CUSIP # 743674103 PROTECTIVE LIFE PROTECTIVE LIFE CORP SECURITY TOTAL 0.00 0.00 187.20 0.00 0.00 CUSIP # 774341101 ROCKWELL COLLINS COM SECURITY TOTAL 0.00 0.00 93.60 0.00 0.00 CUSIP # 806605101 SCHERING PLOUGH CORP COM SECURITY TOTAL 0.00 96.80 0.00 0.00 0.00 CUSIP # 828806109 SIMON PROPERTY GROUP INC COM SECURITY TOTAL 0.00 413.00 0.00 0.00 0.00 INCOME EARNED 387.60 152.50 76.50 187.20 93.60 96.80 413.00 05310/003 21 28 154 5638 0000000226-- 5'... SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 DATE DESCRIPTION CUSIP # 879278208 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR SECURITY TOTAL CUSIP # 616962105 GUNGE LIMITED COM SECURITY TOTAL TOTAL DIVIDENDS INTEREST CUSIP # 38141W315 GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 SECURITY TOTAL CUSIP # 9128275N8 UNITED STATES TREASURY NOTES DTD 08/15/99 6% 08/15/2009 SECURITY TOTAL CUSIP # 912828AN0 UNITED STS TREAS NOTES DTD 11/15/02 3% 11/15/2007 • SECURITY TOTAL CUSIP # 912828CF5 UNITED STS TREAS NOTES DTD 4/30/04 2.25% 04/30/2006 SECURITY TOTAL SCHEDULE OF INCOME PAGE 18 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ RECEIVABLE RECEIVED RECEIVABLE INCOME EARNED 0.00 0.00 86.81 86.81 0.00 0.00 0.00 91.00 0.00 91.00 0.00 0.00 0.00 1,196.40 1,750.21 2,946.61 0.00 '0.00 63.87 63.87 134.32 134.32 0.00 0.00 886.67 0.00 1,236.67 350.00 0.00 0.00 1,383.33 1,500.00 133.33 250.00 0.00 0.00 2.46 450.00 78.69 526.23 0.00 0.00 05310/003 22 2B 154 5638 0000000226-- ~:, SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 DATE DESCRIPTION SCHEDULE OF INCOME PAGE 19 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME RECEIVABLE RECEIVED RECEIVABLE EARNED CUSIP # 912828CW8 UNITED STS TREAS NOTES DTD 9/30/04 2.5% 09/30/2006 SECURITY TOTAL CUSIP # 3133MLT88 FEDERAL HOME LOAN BANK DTD 2/15/02 5.25% 02/13/2009 SECURITY TOTAL CUSIP # 3133X15Y9 FEDERAL HOME LOAN BANK DTD 09/08/2003 SERIES X209 CALLABLE 9/30/05 @ PAR 4.1% 03/30/2009 SECURITY TOTAL CUSIP # 3133X8RQ7 FEDERAL HOME LOAN BANK DTD 09/17/2004 CALLABLE 4/25/2005 @ 100 4.7% 10/14/2011 SECURITY TOTAL CUSIP # 3134A4RH9 FEDERAL HOME LOAN MORTGAGE CORP DTD 9/16/02 3.5% 09/15/2007 SECURITY TOTAL CUSIP # 31359MHK2 FEDERAL NATIONAL MORTGAGE ASSN DTD 03/26/2001 5.5% 03/15/2011 SECURITY TOTAL 0.00 166.67- 171.20 4.53 0.00 0.00 277.08 0.00 386.46 109.38 0.00 0.00 176.53 0.00 347.36 170.83 0.00 0.00 176.25 0.00 372.08 195.83 0.00 0.00 223.61 0.00 369.44 145.83 0.00 0.00 737.92 0.00 1,219.17 481.25 0.00 0.00 05310/003 23 28 154 5638 0000000226-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 DATE DESCRIPTION CUSIP # 36200EUP4 GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 SECURITY TOTAL CUSIP # 36291W7H8 GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 SECURITY TOTAL CUSIP # 36291WGR6 GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 SECURITY TOTAL CUSIP # 36291XMW6 GNSF POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 SECURITY TOTAL CUSIP # 337358AU9 FIRST UNION CORP DTD 10/22/1993 6% 10/30/2008 SECURITY TOTAL TOTAL INTEREST TOTAL INCOME SCHEDULE OF INCOME PAGE 20 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ RECEIVABLE RECEIVED RECEIVABLE INCOME EARNED 499.55 499.55 499.09 499.09 0.00 0.00 676.67 700.00 699.05 722.38 0.00 0.00 811.83 0.00 290.00 0.00 811.83 754.44 754.44 0.00 300.00 299.35 309.35 0.00 0.00 0.00 0.00 745.83- 745.83 0.00 6,205.77 4,158.58 6,700.65 3,907.63 745.83 0.00 6,205.77 5,354.98 8,450.86 6,854.24 745.83 0.00 05310/003 24 28 154 5836 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 TRADE SETTLMT DATE DATE DESCRIPTION MONEY MARKET FUNDS GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 TOTAL ACTIVITY FROM 05/01/2005 TO 05/31/2005 DEPOSIT SCHEDULE OF PURCHASES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE TOTAL TOTAL MONEY MARKET FUNDS U.S. OBLIGATIONS UNITED STS TREAS NOTES DTD 9/30/04 2.5% 09/30/2006 05/27/2005 05/31/2005 PURCHASED AT 98.645 THRU DEUTSCHE BANC ALEX. BROWN INC. TOTAL TOTAL U.S. OBLIGATIONS COMMON STOCKS APARTMENT INVT & MGMT CO-A REIT 05/10/2005 05/13/2005 PURCHASED AT 38.955 THRU LYNCH ]ONES and RYAN UNITS 32,450.19 32,450.19 32,450.19 40,000 40,000 40,000 970 PAGE 21 ACCOUNT # 7062037849 COST 32,450.19 32,450.19 32,450.19 39,457.81 39,457.81 39,457.81 37,805.94 TOTAL 970 37,805.94 TOTAL COMMON STOCKS 970 37,805.94 TOTAL PURCHASES 109,713.94 05310/003 25 28 154 5638 0000000226-- 5 _, SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES ODIAN SAL P T ACCOUNT # PAGE 22 7062037849 THROUGH 05/31/2005 ~ PUBLIC SAFE A TEQUES FOR PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT PROCEEDS MKT/COST BASIS MKT/COST GAIN/LOSS DATE DATE DESCRIPTION MONEY MARKET FUNDS GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 TOTAL ACTIVITY FROM 05/01/2005 TO 05/31/2005 WITHDRAWAL 84,313.49 84,313.49 84,313.49 TOTAL 84,313.49 84,313.49 84,313.49 TOTAL MONEY MARKET FUNDS 84,313.49 84,313.49 84,313.49 FEDERAL AGENCIES - MORTGAGE BACKED GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 TOTAL ACTIVITY FROM 05/01/2005 TO 05/31/2005 05/16/2005 05/16/2005 PAYMENT ON 99,909.44 UNITS 91.09 94.01 62 94 2.92- 3 53- 3934 RADIUS CAPITAL CORPORATIO . . TOTAL 99,909.44 UNITS 91.09 94.01 94.62 2.92- 3.53- GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 TOTAL ACTIVITY FROM 05/01/2005 TO 05/31/2005 05/16/2005 05/16/2005 PAYMENT ON 120,000 UNITS 163.47 173.20 175 68 9.73- 21- 12 3907 COUNTRYWIDE HOME LOANS SE . . TOTAL 120,000 UNITS 163.47 173.20 175.68 9.73- 12.21- I r05310/003c26 28 154 5638 0000000226-- S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 TRADE SETTLMT DATE DATE DESCRIPTION GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 TOTAL ACTIVITY FROM 05/01/2005 TO 05/31/2005 05/16/2005 05/16/2005 PAYMENT ON 149,876.39 UNITS 3907 COUNTRYWIDE HOME LOANS SE TOTAL 149,876.39 UNITS GNSF POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 TOTAL ACTIVITY FROM 05/01/2005 TO 05/31/2005 05/16/2005 05/16/2005 PAYMENT ON 80,000 UNITS 2572 NATIONAL CITY MORTGAGE CO TOTAL 80,000 UNITS TOTAL FEDERAL AGENCIES - MORTGAGE BACKED TOTAL REALIZED GAINS & LOSSES SCHEDULE OF REALIZED GAINS & LOSSES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE PAGE 23 ACCOUNT # 7062037849 MKT/COST MKT/COST PROCEEDS BASIS GAIN/LOSS 10,594.46 11,095.98 501.52- 11,206.95 612.49- 10,594.46 11,095.98 501.52- 11,206.95 612.49- 172.45 168.21 4.24 168.68 3.77 172.45 168.21 4.24 168.68 3.77 11,021.47 11,531.40 509.93- 11,645.93 624.46- 95,334.96 95,844.89 509.93- 95,959.42 624.46- ~^. 05310!003 27 28 1 54 5638 0000000226-- 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THETHROUGH 05/31%2005 BROKER NAME DEUTSCHE BANC ALEX. BROWN INC. LYNCH JONES and RYAN TOTAL SCHEDULE OF BROKERAGE COMMISSIONS SALFORTTEQUES~APPUBLIC SAFEODIAN PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE NON-DIRECTED AS AGENT AS PRINCIPAL 0.00 19.40 19.40 0.00 PAGE 24 ACCOUNT # 7062037849 DIRECTED AS AGENT AS PRINCIPAL 0.00 0.00 I ,~ SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 05/01/2005 THROUGH 05/31/2005 DATE DESCRIPTION OTHER-EXPENSES 05/27/2005 MISCELLANEOUS EXPENSE PAID TO HANSON PERRY & JENSEN, P.A. LEGAL SVCS. PUBLIC SAFETY OFF. MARCH & APRIL 2005 05/27/2005 MISCELLANEOUS EXPENSE PAID TO NORTHSTAR CAPITAL MGMT.INC. FINAL BILL INV. MGMT SVCS. 05/27/2005 MISCELLANEOUS EXPENSE PAID TO BUSINESS SERVICES CONNECTION, INC PREPARE MINUTES OF 2-18-05 MTG AND 3-14-OS 05/27/2005 MISCELLANEOUS EXPENSE PAID TO BOGDAHN CONSULTING LLC MONITORING SERVICES QTRLY FEE 1-05/3-31-05 05/27/2005 MISCELLANEOUS EXPENSE PAID TO GABRIEL, ROEDER, SMITH & COMPANY 3-15-05 ACTUARIAL STATEMENT TOTAL OTHER EXPENSES SCHEDULE OF FEES AND OTHER EXPENSES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH TOTAL FEES AND OTHER EXPENSES 3,635.87 230.00 354.00 2,000.00 1,096.00 7,315.87 7,315.87 PAGE 25 ACCOUNT # 7062037849 9F~ ~iv ~~ ,~, ~~~ "„Gf~~~•_ , . A /""~' ~ 26094/003 1 31 187 5638 0000000460-- A ~~~c~ o ~t S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 0000000460 ~n~~n~~~n~n~~~~n~~~n~~~~~~ VILLAGE OF TEQUESTA ATTN: GWEN CARLISLE 250 TEQUESTA DRIVE SUITE 300 TEQUESTA FL 33469-0273 26094/003 2 31 167 5638 0000000460-- ~_ SALEM TRUST _ C O M P A N Y Post Office Box 30010 Durham, NC 27702 YOUR ADMINISTRATIVE OFFICER IS: KAREN M RUSSO / JC 954-426-5770 TRUST ACCOUNTING STATEMENT FOR THE PERIOD FROM 06/01/2005 TO 06/30/2005 7062037849 SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE VILLAGE OF TEQUESTA ATTN: GWEN CARLISLE 250 TEQUESTA DRIVE SUITE 300 TEQUESTA FL 33469-0273 PLEASE CONTACT YOUR ACCOUNT ADMINISTRATOR AT THE NUMBER LISTED ABOVE SHOULD YOU HAVE ANY QUESTIONS CONCERNING YOUR ACCOUNT. S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 TABLE OF CONTENTS THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE SUMMARY OF ACCOUNT ACTIVITY ......................................... 1 BALANCE SHEET ....................................................... 2 SUMMARY OF EARNINGS ................................................. 3 INVESTMENT REVIEW ................................................... 5 SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS .......................... 10 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS .............................. 11 SCHEDULE OF INCOME .................................................. 17 SCHEDULE OF PURCHASES ............................................... 23 SCHEDULE OF REALIZED GAINS & LOSSES ................................. 24 SCHEDULE OF BROKERAGE COMMISSIONS ................................... 27 SCHEDULE OF FEES AND OTHER EXPENSES ................................. 28 S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 MARKET VALUE AS OF 06/01/2005 GAIN AND LOSS DIVIDENDS INTEREST LESS BEGINNING ACCRUED INCOME ACCRUED INCOME REALIZED GAIN OR LOSS UNREALIZED GAIN OR LOSS TOTAL GAIN AND LOSS SUMMARY OF ACCOUNT ACTIVITY SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE RECEIPTS EMPLOYER EMPLOYEE TOTAL RECEIPTS DISBURSEMENTS OTHER EXPENSES TOTAL DISBURSEMENTS TOTAL MARKET VALUE AS OF 06/30/2005 2,842.17 2,386.25 8,450.86- 9,503.38 16,453.32 12,388.51 11,109.00 6,075.05 3,033.17- 35,122.77 17,184.05 3,033.17- PAGE 1 ACCOUNT # 7062037849 2,530,943.46 2,580,217.11 t~v, 28094/003 5 31 1B7 583tl UUUWUU4tiU-- 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 CASH DUE FROM BROKERS ACCRUED INCOME TOTAL CASH & RECEIVABLES CASH AND EQUIVALENTS MONEY MARKET FUNDS TOTAL CASH AND EQUIVALENTS FIXED INCOME U.S. OBLIGATIONS FEDERAL AGENCIES FEDERAL AGENCIES - MORTGAGE BACK TOTAL FIXED INCOME EQUITIES COMMON STOCKS TOTAL EQUITIES TOTAL HOLDINGS TOTAL ASSETS DUE TO BROKERS TOTAL LIABILITIES TOTAL NET ASSET VALUE TOTAL LIABILITIES AND EQUITY BALANCE SHEET PAGE 2 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE AS OF 06/01/2005 AS OF 06/30/2005 COST VALUE MARKET VALUE COST VALUE MARKET VALUE - - - - - - - - - - - - - -ASSETS - - - - - - - - - - - - - - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8,450.86 8,450.86 9,503.38 9,503.38 8,450.86 8,450.86 9,503.38 9,503.38 19,829.75 19,829.75 253,194.53 286,537.44 457,888.62 997,620.59 19,829.75 19,829.75 253,810.70 288,102.80 454,816.25 996,729.75 52,162.05 52,162.05 253,194.53 286,537.44 447,686.76 987,418.73 52,162.05 52,162.05 253,661.40 288,354.50 444,353.18 986,369.08 1,447,422.32 1,505,933.10 1,461,124.50 1,532,182.60 1,447,422.32 1,505,933.10 1,461,124.50 1,532,182.60 2,464,872.66 2,522,492.60 2,500,705.28 2,570,713.73 2,473,323.52 2,530,943.46 2,510,208.66 2,580,217.11 - - - - - - - - - - - - L I A B I L I T I E 5 - - - - - - - - - - - 0.00 0.00 0.00 0.00 2,473,323.52 2,530,943.46 2,510,208.66 2,580,217.11 2,473,323.52 2,530,943.46 2,510,208.66 2,580,217.11 26094/003 6 31 187 5638 0000000460-- S:. SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 SUMMARY OF EARNINGS PAGE 3 THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CONTRIBUTIONS EMPLOYER 11,109.00 EMPLOYEE 6,075.05 TOTAL CONTRIBUTIONS 17,184.05 INCOME EARNED DIVIDENDS 2,145.06 INTEREST 4,135.88 TOTAL INCOME EARNED 6,280.94 UNREALIZED GAIN IN THE PERIOD 12,388.51 REALIZED GAIN FROM DISPOSITION OF ASSETS 16,453.32 TOTAL INCREASES IN FUND VALUE 52,306.82 i ~ LbUY4/UUJ / JI IO/ DOJD UUVUUVVYOV° S~ SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 SUMMARY OF EARNINGS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE FEES AND OTHER EXPENSES OTHER EXPENSES TOTAL FEES AND OTHER EXPENSES TOTAL DECREASES IN FUND VALUE 3,033.17 NET CHANGE IN NET ASSET VALUE CALCULATION OF UNREALIZED GAIN/LOSS: MARKET VALUE OF ASSETS AT END OF PERIOD 2,570,713.73 LESS COST AT END OF PERIOD 2,500,705.28 PLUS BEGINNING COST OF ASSETS 2,464,872.66 LESS BEGINNING MARKET VALUE OF ASSETS 2,522,492.60 3,033.17 PAGE 4 ACCOUNT # 7062037849 3,033.17 49,273.65 EQUALS UNREALIZED GAIN/LOSS IN THE PERIOD 12,388.51 MARKET VALUE AND COST FIGURES DO NOT INCLUDE CASH AND ACCRUED INCOME S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 INVESTMENT REVIEW FOR THE ACCOUNT OF PAGE 5 SALEM TRUST COMPANY AS CUSTODIAN ACCT 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND ASSETS HELD 06/30/2005 VILLAGE OF TEQUESTA VALUED AS OF 06/30/2005 ATTN: JODY FORSYTHE INVESTMENT OFFICER..........ROCKWOOD CAPITAL ADVISORS, LLCINVESTMENT OBJECTIVE........ ADMINISTRATIVE OFFICER......KAREN M RUSSO / JC INVESTMENT AUTHORITY........NONE TRUST TAX FILING STATUS..... INVESTMENT RESPONSIBILITY...RESTRICTED TRUST TAX YEAR END.......... ACCOUNT TYPE ................EMPLOYEE BENEFIT-CUSTODIAN GAINS TAXED TO .............. DATE FUNDED.................04/06/2005 INCOME TAXED TO ............. REVIEW CYCLE.............. TRUST ADJUSTED TAX BRACKET.. PREVIOUS MARKET VALUE....... TRUST SITUS .................FIORIDA PREVIOUS MARKET VALUE DATE.. BEGIN TERMINATION........... TRANSFER TO PRINCIPAL....... FINAL TERMINATION........... GREENHILL PARTICIPANT.......NO ACCOUNT RESTRICTIONS: SIMS MODEL # ................ SIMS MODEL FREQUENCY........ TAX LOSS CARRYFORWARD SHORT TERM TAX LOSS CARRYFORWARD 26094/003 9 31 167 5638 0000000480-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 SUMMARY OF INVESTMENTS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE CATEGORY CASH & CASH EQUIVALENTS FIXED INCOME EQUITY TOTAL FUND PAGE 6 ACCT 7062037849 ASSETS HELD 06/30/2005 VALUED AS OF 06/30/2005 ESTIMATED ANNUAL CURRENT MARKET VALUE % INCOME YIELD 61,665.43 2.39 1,299 2.11 986,369.08 38.23 48,736 4.94 1,532,182.60 ------------ 59.38 ------ 27,158 --------- 1.77 ------- 2,580,217.11 100.00 77,193 2.99 26094/003 10 31 167 5638 0000000460-- 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 SCHEDULE OF INVESTMENTS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE SHARES OR FACE VALUE DESCRIPTION CASH & CASH EQUIVALENTS ACCRUED INCOME 52,162.05 GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 TOTAL CASH & CASH EQUIVALENTS TICKER CUSIP 469 38141W315 The prices shown on these pages represent the most recent price evaluation available on the last business day of the statement period, normally the last trade price or the bid price in the case of over-the-counter quotations. Where no regular market exists, prices shown are estimates by sources we consider reliable. Price evaluations are obtained from outside parties. While the prices are obtained from sources we consider reliable we cannot guarantee them. PAGE 7 ACCT 7062037849 ASSETS HELD 06/30/2005 VALUED AS OF 06/30/2005 CURRENT CURRENT TAX COST PRICE DT PRICE MARKET % OF VALUE GROUP 9,503 52,162 -------------- 61,665~ 9,503.38 15.41 52,162.05 84.59 ----------------- ------- $61,665.43 100.00% FIXED INCOME 40,000 UNITED STS TREAS NOTES DTD 912828CF5 39,586 07/01/2005 98.973 39,589.20 4.01 4/30/04 2.25% 04/30/2006 40,000 UNITED STS TREAS NOTES DTD 912828CW8 39,458 07/01/2005 98.672 39,468.80 4.00 9/30/04 2.5% 09/30/2006 50,000 FEDERAL HOME LOAN MORTGAGE CORP 3134A4RH9 50,779 07/01/2005 99.375 49,687.50 5.04 DTD 9/16/02 3.5% 09/15/2007 100,000 UNITED STS TREAS NOTES DTD 912828AN0 98,332 07/01/2005 98.547 98,547.00 9.99 11/15/02 3% 11/15/2007 25,000 FEDERAL HOME LOAN BANK DTD 3133MLT88 24,800 07/01/2005 104.156 26,039.00 2.64 2/15/02 5.25% 02/13/2009 50,000 FEDERAL HOME LOAN BANK DTD 3133X15Y9 50,000 07/01/2005 100.031 50,015.50 5.07 09/08/2003 SERIES X209 CALLABLE 9/30/05 @ PAR 4.1% 03/30/2009 70,000 UNITED STATES TREASURY NOTES DTD 9128275N8 75,819 07/01/2005 108.652 76,056.40 7.71 08/15/99 6% 08/15/2009 105,000 FEDERAL NATIONAL MORTGAGE ASSN 31359MHK2 110,959 07/O1/Z005 107.25 112,612.50 11.42 DTD 03/26/2001 5.5% 03/15/2011 50,000 FEDERAL HOME LOAN BANK DTD 3133X8RQ7 50,000 07/01/2005 100.00 50,000.00 5.07 09/17/2004 CALLABLE 4/25/2005 @ 100 4.7% 10/14/2011 99,726.77 GNSF POOL# 599190 DTD 3/1/05 6% 36200EUP4 103,591 06/30/2005 103.21 102,928.00 10.44 03/15/2035 129,951.11 GNSF POOL# 640208 DTD 3/1/05 36291WGR6 137,464 06/30/2005 104.522 135,827.50 13.77 6.5% 03/15/2035 119,734.96 GNSF POOL# 640896 DTD 4/1/05 7% 36291W7H8 128,678 06/30/2005 105.876 126,770.59 12.85 04/15/2035 79,697.39 GNSF POOL# 641273 DTD 4/1/05 36291XMW6 77,954 06/30/2005 98.908 78,827.09 7.99 4.5% 04/15/2035 TOTAL FIXED INCOME -- ------------ 987,420 --- -------------- 5986,369.08 ------- 100.00% ..~. 26094/003 11 31 187 5638 000000046u-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 SCHEDULE OF INVESTMENTS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE SHARES OR FACE VALUE DESCRIPTION EQUITY 620 APACHE CORP 970 APARTMENT INVT & MGMT CO-A REIT 900 BALL CORP COM 1,000 BAXTER INTL INC COM 620 BOEING CO COM 730 CARNIVAL CORP CLASS A COMMON PAIRED STOCK 400 CATERPILLAR TRACTOR CO COM 3,090 CENTERPOINT ENERGY INC COM 1,790 CHESAPEAKE ENERGY COM 560 DEERE AND CO COM 1,820 DEUTSCHE TELEKOM AG-SPON ADR COM 800 DOW CHEM CO COM 3,540 EL PASO CORP COM 500 ENTERGY CORP 3,080 GOODYEAR TIRE & RUBR CO COM 980 GRACO INC COM 840 HALLIBURTON CO COM 1,020 INDYMAC BANCORP INC COM 1,100 LANDSTAR SYSTEM INC COM 600 LENNAR CORP CL A COM 610 LOCKHEED MARTIN CORP COM 510 LOEWS CORP COM 500 MDC HOLDINGS INC COM 1,050 MCCORMICK & CO COM NON VTG SHS 740 MURPHY OIL CORP COM 1,050 P G & E CORP COM 480 PRECISION CASTPARTS CORP COM 960 PROTECTIVE LIFE PROTECTIVE LIFE CORP 780 ROCKWELL COLLINS COM 1,760 SCHERING PLOUGH CORP COM 590 SIMON PROPERTY GROUP INC COM 1,580 SPRINT CORP COM 1,280 SWIFT ENERGY CO COM 1,040 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR 910 TEREX CORP COM 980 TIMERLAND COMPANY-CL A COM 850 TORO CO COM 1,250 VERISIGN INC COM 850 VOLVO AB-SPONSORED ADR PAGE 8 ACCT 7062037849 ASSETS HELD 06/30/2005 VALUED AS OF 06/30/2005 CURRENT CURRENT MARKET % OF TICKER CUSIP TAX COST PRICE DT PRICE VALUE GROUP APA AIV 037411105 037488101 36,574 37,806 07/01/2005 07/01/2005 64.60 40.92 40,052.00 39,692.40 2.61 2.59 BLL BAX 058498106 071813109 36,332 36,580 07/01/2005 07/01/2005 35.96 37.10 32,364.00 37,100.00 2.11 2.42 BA CCl 097023105 143658300 36,318 36,775 07/01/2005 07/01/2005 66.00 54.55 40,920.00 39,821.50 2.67 2.60 CAT CNP 149123101 151897107 35,812 36,647 07/01/2005 07/01/2005 95.31 13.21 38,124.00 40,818.90 2.49 2.66 CHK DE 165167107 244199105 36,695 36,294 07/01/2005 07/01/2005 22.80 65.49 40,812.00 36,674.40 2.66 2.39 DT DOW 251566105 260543103 34,984 36,390 07/01/2005 07/01/2005 18.42 44.53 33,524.40 35,624.00 2.19 2.33 EP ETR 28336L109 293646103 36,745 36,010 07/01/2005 07/01/2005 11.52 75.55 40,780.80 37,775.00 2.66 2.47 GT GGG 382550101 384109104 36,110 35,897 07/01/2005 07/01/2005 14.90 34.07 45,892.00 33,388.60 3.00 2.18 HAL NDE 406216101 456607100 36,937 36,842 07/01/2005 07/01/2005 47.82 40.73 40,168.80 41,544.60 2.62 2.71 LSTR LEN 515098101 526057104 36,069 34,982 07/01/2005 07/01/2005 30.18 63.45 33,198.00 38,070.00 2.17 2.48 LMT LTR 539830109 540424108 36,136 36,449 07/01/2005 07/01/2005 64.87 77.50 39,570.70 39,525.00 2.58 Z.58 MDC MKC 552676108 579780206 37,916 36,539 07/01/2005 07/01/2005 82.25 32.68 41,125.00 34,314.00 2.68 2.24 MUR PCG 626717102 693310108 37,999 36,722 07/01/2005 07/01/2005 52.23 37.54 38,650.20 39,417.00 2.52 2.57 PCP PL 740189105 743674103 36,182 37,022 07/01/2005 07/01/2005 77.90 42.22 37,392.00 40,531.20 2.44 2.65 COL SGP 774341101 806605101 36,356 36,504 07/01/2005 07/01/2005 47.68 19.06 37,190.40 33,545.60 2.43 2.19 SPG FON 828806109 852061100 36,757 36,358 07/01/2005 07/01/2005 72.49 25.09 42,769.10 39,642.20 2.79 2.59 SFY NZT 870738101 879278208 37,461 36,806 07/01/2005 07/01/2005 35.82 33.59 45,849.60 34,933.60 2.99 2.28 TEX 880779103 36,243 07/01/2005 39.40 35,854.00 2.34 TBL 887100105 36,412 07/01/2005 38.72 37,945.60 2.48 TTC 891092108 36,017 07/01/2005 38.61 32,818.50 3 0 2.14 VOLV 928856400 37,111 07/01/2005 40.51 34,4 50 . 2.25 26Uy41UVJ IZ 31 10/ DOJO UVVUUVU4DU° S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 SCHEDULE OF INVESTMENTS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE PAGE 9 ACCT 7062037849 ASSETS HELD 06/30/2005 VALUED AS OF 06/30/2005 SHARES OR CURRENT CURRENT MARKET % OF FACE VALUE DESCRIPTION TICKER CUSIP TAX COST PRICE DT PRICE VALUE GROUP 700 BUNGE LIMITED COM BG G16962105 36,414 07/01/2005 63.40 44,380.00 2.90 TOTAL EQUITY - -------------- 1,461,125* ---------------- $1,532,182.60 ------- 100.00% TOTAL FUND -------------- - _____2_510_210* _ ---------------- ___$2_580_217_11 ------- _100_00% ~' ~~ SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 SUMMARY OF CASH RECEIPTS AND DISBURSEMENTS THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE R E C E I P T S CASH BALANCE AS OF 06/01/2005 CONTRIBUTIONS EMPLOYER EMPLOYEE TOTAL CONTRIBUTIONS INCOME RECEIVED DIVIDENDS INTEREST TOTAL INCOME RECEIPTS PROCEEDS FROM THE DISPOSITION OF ASSETS TOTAL RECEIPTS 11,109.00 6,075.05 17,184.05 2,842.17 2,386.25 5,228.42 163,365.00 D I S B U R S E M E N T S FEES AND OTHER EXPENSES OTHER EXPENSES TOTAL FEES AND OTHER EXPENSES COST OF ACQUISITION OF ASSETS TOTAL DISBURSEMENTS 3,033.17 3,033.17 182,744.30 PAGE 10 ACCOUNT # 7062037849 0.00 185,777.47 185,777.47 CASH BALANCE AS OF 06/30/2005 0.00 I GVV.7Y/VVJ IY J~ DUI VVVU VVVVVVV-svv S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 11 THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE DATE DESCRIPTION CASH COST 06/01/2005 BEGINNING BALANCE 8,450.86 2,464,872.66 06/01/2005 LESS BEGINNING INCOME ACCRUAL 8,450.86- 06/01/2005 DIVIDEND ON 500 SHS ENTERGY CORP 270.00 0.00 AT 0.54 PER SHARE PAYABLE 06/01/2005 EX DATE 05/10/2005 06/01/2005 DIVIDEND ON 960 SHS PROTECTIVE 187.20 0.00 LIFE PROTECTIVE LIFE CORP AT .195 PER SHARE PAYABLE 06/01/2005 EX DATE 05/18/2005 06/01/2005 DEPOSIT GOLDMAN SACHS FIN SQ 457.20- 457.20 TREASURY OBLIB ADMIN FUND #469 06/02/2005 DIVIDEND ON GOLDMAN SACHS FIN SQ 134.32 0.00 TREASURY OBLIB ADMIN FUND #469 PAYABLE 05/31/2005 06/02/2005 DEPOSIT GOLDMAN SACHS FIN SQ 134.32- 134.32 TREASURY OBLIB ADMIN FUND #469 06/03/2005 DIVIDEND ON 620 SHS BOEING CO 155.00 0.00 COM AT 0.25 PER SHARE PAYABLE 06/03/2005 EX DATE 05/11/2005 06/03/2005 DEPOSIT GOLDMAN SACHS FIN SQ 155.00- 155.00 TREASURY OBLIB ADMIN FUND #469 06/06/2005 DIVIDEND ON 780 SHS ROCKWELL 93.60 0.00 COLLINS COM AT 0.12 PER SHARE PAYABLE 06/06/2005 EX DATE 05/12/2005 06/06/2005 DEPOSIT GOLDMAN SACHS FIN SQ 93.60- 93.60 TREASURY OBLIB ADMIN FUND #469 06/07/2005 WITHDRAWAL GOLDMAN SACHS FIN SQ 2,935.00 2,935.00- TREASURY OBLIB ADMIN FUND #469 06/07/2005 MISCELLANEOUS EXPENSE PAID TO 2,935.00- 0.00 GABRIEL ROEDER SMITH & COMPANY SUPP ACT VALUATION RE OF 11/4/04 SHOW COST IMPACT OF SEV PROP CHAN IN BENES 26094/(>V:i 15 :il ttl/ bblti VUVUUUU4bu-- 5 .. SALEM TRUST - C O M P A N Y Post Office l3ox 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 CHRONOLOGICAL SCHEDULE OF TRANSACTIONS PAGE 12 THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: )ODY FORSYTHE DATE DESCRIPTION CASH COST 06/08/2005 RECEIVED FROM VILLAGE OF 2,987.29 0.00 TEQUESTA EMPLOYEE CONT. PPE 5-28-05 06/08/2005 RECEIVED FROM VILLAGE OF 5,464.03 0.00 TEQUESTA EMPLOYER CONT. PPE 5-28-05 06/08/2005 DEPOSIT GOLDMAN SACHS FIN SQ 8,451.32- 8,451.32 TREASURY OBLIB ADMIN FUND #469 06/09/2005 DIVIDEND ON 1,020 SHS INDYMAC 387.60 0.00 BANCORP INC COM AT 0.38 PER SHARE PAYABLE 06/09/2005 EX DATE 05/10/2005 06/09/2005 SOLD 850 SHS ROYAL CARIBBEAN 38,608.78 36,964.97- CRUISES LTD COM ON 06/09/2005 AT 45.444 THRU LYNCH ]ONES and RYAN COMMISSIONS PAID 17.00 EXPENSES PAID 1.62 06/09/2005 DEPOSIT GOLDMAN SACHS FIN SQ 387.60- 387.60 TREASURY OBLIB ADMIN FUND #469 06/09/2005 SOLD 510 SHS CAP ONE FINANCIAL 38,070.92 24,239.21- CORP ON 06/09/2005 AT 74.672 THRU LYNCH )ONES and RYAN COMMISSIONS PAID 10.20 EXPENSES PAID 1.60 06/09/2005 SOLD 690 SHS FASTENAL CO COM ON 40,332.95 36,728.70- 06/09/2005 AT 58.476 THRU LYNCH JONES and RYAN COMMISSIONS PAID 13.80 EXPENSES PAID 1.69 06/09/2005 SOLD 2,080 SHS WORTHINGTON 33,763.22 35,841.94- INDUSTRIES INC COM ON 06/09/2005 AT 16.253 THRU LYNCH JONES and RYAN COMMISSIONS PAID 41.60 EXPENSES PAID 1.42 LOUy4/uw i o a i i o/ o00o wwwvw~ S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 06/09/2005 PURCHASED 600 SHS LENNAR CORP CL A COM ON 06/09/2005 AT 58.284 THRU LYNCH JONES and RYAN COMMISSIONS PAID 12.00 06/09/2005 PURCHASED 740 SHS MURPHY OIL CORP COM ON 06/09/2005 AT 51.33 THRU LYNCH JONES and RYAN COMMISSIONS PAID 14.80 06/09/2005 PURCHASED 1,000 SHS BAXTER INTL INC COM ON 06/09/2005 AT 36.5596 THRU LYNCH JONES and RYAN COMMISSIONS PAID 20.00 06/09/2005 PURCHASED 500 SHS MDC HOLDINGS INC COM ON 06/09/2005 AT 75.812 THRU LYNCH JONES and RYAN COMMISSIONS PAID 10.00 06/10/2005 DIVIDEND ON 730 SHS CARNIVAL CORP CLA55 A COMMON PAIRED STOCK AT 0.20 PER SHARE PAYABLE 06/10/2005 EX DATE 05/18/2005 06/10/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 06/13/2005 DIVIDEND ON 510 SHS LOEWS CORP COM AT 0.15 PER SHARE PAYABLE 06/13/2005 EX DATE 05/27/2005 06/13/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 06/14/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 06/14/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 34,982.40- 37,999.00- 36,579.60- 37,916.00- 146.00 146.00- 76.50 76.50- 1,798.47- 1,500.40- PAGE 13 ACCOUNT # 7062037849 COST 34,982.40 37,999.00 36,579.60 37,916.00 0.00 146.00 0.00 76.50 1,798.47 1,500.40 .rte` •, ,n;; GoVa9rwu ~ r u ~ nor wuci wwwww S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE CASH 06/15/2005 DIVIDEND ON 900 SHS BALL CORP COM AT 0.10 PER SHARE PAYABLE 06/15/2005 EX DATE 05/27/2005 06/15/2005 INTEREST ON 99,818.35 UNITS GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 PAYABLE 06/15/2005 ORIGINAL FACE VALUE 100,000.00 3934 RADIUS CAPITAL CORPORATIO 06/15/2005 PAYMENT ON 99,818.35 UNITS GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 ORIGINAL FACE VALUE 100,000.00 3934 RADIUS CAPITAL CORPORATIO 06/15/2005 INTEREST ON 119,836.53 UNITS GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 PAYABLE 06/15/2005 ORIGINAL FACE VALUE 120,000.00 3907 COUNTRYWIDE HOME LOANS SE 06/15/2005 PAYMENT ON 119,836.53 UNITS GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 ORIGINAL FACE VALUE 120,000.00 3907 COUNTRYWIDE HOME LOANS SE 06/15/2005 INTEREST ON 139,281.93 UNITS GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 PAYABLE 06/15/2005 ORIGINAL FACE VALUE 150,000.00 3907 COUNTRYWIDE HOME LOANS SE 06/15/2005 PAYMENT ON 139,281.93 UNITS GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 ORIGINAL FACE VALUE 150,000.00 3907 COUNTRYWIDE HOME LOANS SE 90.00 499.09 91.58 699.05 101.57 754.44 9,330.82 PAGE 14 ACCOUNT # 7062037849 COST 0.00 0.00 95.13- 0.00 109.16- 0.00 9,870.26- S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 06/15/2005 INTEREST ON 79,827.55 UNITS GNSF POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 PAYABLE 06/15/2005 ORIGINAL FACE VALUE 80,000.00 2572 NATIONAL CITY MORTGAGE CO 06/15/2005 PAYMENT ON 79,827.55 UNITS GNSF POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 ORIGINAL FACE VALUE 80,000.00 2572 NATIONAL CITY MORTGAGE CO 06/15/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 06/17/2005 DIVIDEND ON 1,040 SHS TELECOM CORP NEW ZEALAND LTD SPONSORED ADR AT .6293 PER SHARE PAYABLE 06/17/2005 EX DATE 05/24/2005 06/17/2005 FOREIGN TAX WITHHELD ON TELECOM CORP NEW ZEALAND LTD SPONSORED ADR 06/20/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 06/20/2005 RECEIVED FROM VILLAGE OF TEQUESTA EMPLOYEE CONT. PPE 6/11/05 06/20/2005 RECEIVED FROM VILLAGE OF TEQUESTA EMPLOYER CONT. PPE 6/11/05 06/20/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 06/23/2005 DIVIDEND ON 840 SHS HALLIBURTON CO COM AT .125 PER SHARE PAYABLE 06/23/2005 EX DATE 05/31/2005 lf-'_. 1..~ 299.35 130.16 11,996.06- 654.47 98.17- 556.30- 3,087.76 5,644.97 8,732.73- 105.00 PAGE 15 ACCOUNT # 7062037849 COST 0.00 127.31- 11,996.06 0.00 0.00 556.30 0.00 0.00 8,732.73 0.00 '~.~r/ 28094/003 19 31 187 5638 0000000460-- SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 DATE DESCRIPTION CHRONOLOGICAL SCHEDULE OF TRANSACTIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH 06/23/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 06/29/2005 DIVIDEND ON 850 SHS ROYAL CARIBBEAN CRUISES LTD COM AT 0.13 PER SHARE PAYABLE 06/29/2005 EX DATE 06/08/2005 06/30/2005 DIVIDEND ON 610 SHS LOCKHEED MARTIN CORP COM AT 0.25 PER SHARE PAYABLE 06/30/2005 EX DATE 05/27/2005 06/30/2005 DIVIDEND ON 1,580 SHS SPRINT CORP COM AT 125 PER SHARE PAYABLE 06/30/2005 EX DATE 06/07/2005 06/30/2005 DIVIDEND ON 3,090 SHS CENTERPOINT ENERGY INC COM AT 0.07 PER SHARE PAYABLE 06/30/2005 EX DATE 06/13/2005 06/30/2005 DEPOSIT GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 06/30/2005 ENDING INCOME ACCRUAL 06/30/2005 ENDING BALANCE 105.00- 110.50 152.50 197.50 216.30 676.80- 9,503.38 9,503.38 PAGE 16 ACCOUNT # 7062037849 COST 105.00 0.00 0.00 0.00 0.00 676.80 2,500,705.28 2dUy4/UU:! 2U 31 ltl/ bbJtl UUUUUUUVOU-- S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 SCHEDULE OF INCOME PAGE 17 THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME DATE DESCRIPTION RECEIVABLE RECEIVED RECEIVABLE EARNED DIVIDENDS CUSIP # 058498106 BALL CORP COM SECURITY TOTAL 90.00 90.00 0.00 0.00 0.00 0.00 CUSIP # 097023105 BOEING CO COM SECURITY TOTAL 155.00 155.00 0.00 0.00 0.00 0.00 CUSIP # 143658300 CARNIVAL CORP CLASS A COMMON PAIRED STOCK SECURITY TOTAL 146.00 146.00 0.00 0.00 0.00 0.00 CUSIP # 151897107 CENTERPOINT ENERGY INC COM SECURITY TOTAL 0.00 216.30 0.00 216.30 0.00 0.00 CUSIP # 165167107 CHESAPEAKE ENERGY COM SECURITY TOTAL 0.00 0.00 89.50 89.50 0.00 0.00 CUSIP # 244199105 DEERE AND CO COM SECURITY TOTAL 0.00 0.00 173.60 173.60 0.00 0.00 CUSIP # 260543103 DOW CHEM CO COM SECURITY TOTAL 0.00 0.00 268.00 268.00 0.00 0.00 ~1/ f J SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 SCHEDULE OF INCOME PAGE 18 THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME DATE DESCRIPTION RECEIVABLE RECEIVED RECEIVABLE EARNED CUSIP # 28336L109 EL PASO CORP COM SECURITY TOTAL 0.00 0.00 141.60 141.60 0.00 0.00 CUSIP # 293646103 ENTERGY CORP SECURITY TOTAL 270.00 270.00 0.00 0.00 0.00 0.00 CUSIP # 406216101 HAILIBURTON CO COM SECURITY TOTAL 105.00 105.00 0.00 0.00 0.00 0.00 CUSIP # 456607100 INDYMAC BANCORP INC COM SECURITY TOTAL 387.60 387.60 0.00 0.00 0.00 0.00 CUSIP # 539830109 LOCKHEED MARTIN CORP COM SECURITY TOTAL 152.50 152.50 0.00 0.00 0.00 0.00 CUSIP # 540424108 LOEWS CORP COM SECURITY TOTAL 76.50 76.50 0.00 0.00 0.00 0.00 CUSIP # 693310108 P G & E CORP COM SECURITY TOTAL 0.00 0.00 315.00 315.00. 0.00 0.00 LOU~'H VVJ LL J I I V I VVJU VvVVVVVYUV-' 5 SALEM TRUST C U M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 SCHEDULE OF INCOME PAGE 19 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: ]ODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ DATE DESCRIPTION RECEIVABLE RECEIVED RECEIVABLE CUSIP # 740189105 PRECISION CASTPARTS CORP COM SECURITY TOTAL 0.00 0.00 14.40 0.00 0.00 INCOME EARNED 14.40 CUSIP # 743674103 PROTECTIVE LIFE PROTECTIVE LIFE CORP SECURITY TOTAL 187.20 187.20 0.00 0.00 0.00 0.00 CUSIP # 774341101 ROCKWELL COLLINS COM SECURITY TOTAL 93.60 93.60 0.00 0.00 0.00 0.00 CUSIP # 852061100 SPRINT CORP COM SECURITY TOTAL 0.00 197.50 0.00 197.50 0.00 0.00 CUSIP # 879278208 TELECOM CORP NEW ZEALAND LTD SPONSORED ADR SECURITY TOTAL 86.81 654.47 0.00 567.66 0.00 0.00 CUSIP # 891092108 TORO CO COM SECURITY TOTAL 0.00 0.00 51.00 51.00 0.00 0.00 CUSIP # V7780T103 ROYAL CARIBBEAN CRUISES LTD COM SECURITY TOTAL 0.00 110.50 0.00 110.50 0.00 0.00 ~,_ ~.». ,',', ~,,~,,1 2609M0D3 23 ;it >dr ov~d uuuuwvyv~•- S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 SAL SCHEDULE OF INCOME IAN P T ACCOUNT PAGE 20 # 7062037849 FO PUBLIC SAFETY TEQUESTA R PENSION FUND VILLAGE OF TEQUESTA ATTN: 70DY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME DATE DESCRIPTION RECEIVABLE RECEIVED RECEIVABLE EARNED TOTAL DIVIDENDS 1,750.21 2,842.17 1,053.10 2,145.06 0.00 0.00 INTEREST CUSIP # 38141W315 GOIDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 SECURITY TOTAL 134.32 134.32 77.61 00 0 77.61 0.00 . CUSIP # 9128275N8 UNITED STATES TREASURY NOTES DTD 08/15/99 6% 08/15/2009 SECURITY TOTAL 1,236.67 0.00 1,586.67 350.00 0.00 0.00 CUSIP # 912828AN0 UNITED STS TREAS NOTES DTD 11/15/02 3% 11/15/2007 SECURITY TOTAL 133.33 0.00 383.33 250.00 0.00 0.00 CUSIP # 912828CF5 UNITED STS TREAS NOTES DTD 4/30/04 2.25% 04/30/2006 SECURITY TOTAL 78.69 0.00 152.46 73.77 0.00 0.00 CUSIP # 912828CW8 UNITED STS TREAS NOTES DTD 9/30/04 2.5% 09/30/2006 SECURITY TOTAL 171.20 0.00 252.72 81.52 0.00 0.00 S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 DATE DESCRIPTION SCHEDULE OF INCOME PAGE 21 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ENDING ACCRUAL/ CASH ACCRUAL/ INCOME RECEIVABLE RECEIVED RECEIVABLE EARNED CUSIP # 3133MLT88 FEDERAL HOME LOAN BANK DTD 2/15/02 5.25% 02/13/2009 SECURITY TOTAL CUSIP # 3133X15Y9 FEDERAL HOME LOAN BANK DTD 09/08/2003 SERIES X209 CALLABLE 9/30/05 @ PAR 4.1% 03/30/2009 SECURITY TOTAL CUSIP # 3133X8RQ7 FEDERAL HOME LOAN BANK DTD 09/17/2004 CALLABLE 4/25/2005 @ 100 4.7% 10/14/2011 SECURITY TOTAL CUSIP # 3134A4RH9 FEDERAL HOME LOAN MORTGAGE CORP DTD 9/16/02 3.5% 09/15/2007 SECURITY TOTAL CUSIP # 31359MHK2 FEDERAL NATIONAL MORTGAGE ASSN DTD 03/26/2001 5.5% 03/15/2011 SECURITY TOTAL CUSIP # 36200EUP4 GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 SECURITY TOTAL 386.46 0.00 495.83 109.37 0.00 0.00 347.36 0.00 518.19 170.83 0.00 0.00 372.08 0.00 567.92 195.84 0.00 0.00 369.44 0.00 515.28 145.84 0.00 0.00 1,219.17 0.00 1,700.42 481.25 0.00 0.00 499.09 499.09 498.63 498.63 0.00 0.00 •• `~~ 26094/003 25 31 187 5tl313 UUWUUUadU-- 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 DATE DESCRIPTION CUSIP # 36291W7H8 GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 SECURITY TOTAL CUSIP # 36291WGR6 GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 SECURITY TOTAL CUSIP # 36291XMW6 GNSF POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 SECURITY TOTAL TOTAL INTEREST TOTAL INCOME SCHEDULE OF INCOME SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE BEGINNING ACCRUAL/ CASH RECEIVABLE RECEIVED PAGE 22 ACCOUNT # 7062037849 ENDING ACCRUAL/ INCOME RECEIVABLE EARNED 699.05 699.05 698.45 698.45 0.00 0.00 754.44 754.44 703.90 703.90 0.00 0.00 299.35 299.35 298.87 298.87 0.00 0.00 6,700.65 2,386.25 8,450.28 4,135.88 0.00 0.00 8,450.86 5,228.42 9,503.38 6,280.94 0.00 0.00 26094/003 26 31 187 5638 0000000460-- 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 SCHEDULE OF PURCHASES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE PAGE 23 ACCOUNT # 7062037849 TRADE SETTLMT DATE DATE DESCRIPTION UNITS COST MONEY MARKET FUNDS GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 DEPOSIT 35,267.3 35,267.30 TOTAL 35,267.3 35,267.30 TOTAL MONEY MARKET FUNDS 35,267.3 35,267.30 COMMON STOCKS BAXTER INTL INC COM 06/09/2005 06/14/2005 PURCHASED AT 36.5596 THRU 1,000 36,579.60 LYNCH JONES and RYAN TOTAL 1,000 36,579.60 LENNAR CORP CL A COM 06/09/2005 06/14/2005 PURCHASED AT 58.284 THRU 600 34,982.40 LYNCH JONES and RYAN TOTAL 600 34,982.40 MDC HOLDINGS INC COM 06/09/2005 06/14/2005 PURCHASED AT 75.812 THRU 500 37,916.00 LYNCH JONES and RYAN TOTAL 500 37,916.00 MURPHY OIL CORP COM 06/09/2005 06/14/2005 PURCHASED AT 51.33 THRU 740 37,999.00 LYNCH JONES and RYAN TOTAL 740 37,999.00 TOTAL COMMON STOCKS 2,840 147,477.00 TOTAL PURCHASES 182,744.30 ~"' Fj 26094/003 27 31 187 5638 0000000460-- 5 .. SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 24 THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS MONEY MARKET FUNDS GOLDMAN SACHS FIN SQ TREASURY OBLIB ADMIN FUND #469 TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 WITHDRAWAL 2,935.00 2,935.00 2,935.00 TOTAL 2,935.00 2,935.00 2,935.00 TOTAL MONEY MARKET FUNDS 2,935.00 2,935.00 2,935.00 FEDERAL AGENCIES - MORTGAGE BACKED GNSF POOL# 599190 DTD 3/1/05 6% 03/15/2035 TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 06/15/2005 06/15/2005 PAYMENT ON 99,818.35 UNITS 91.58 94.66 3.08- 3934 RADIUS CAPITAL CORPORATIO 95.13 3.55- TOTAL 91.58 UNITS 91.58 94.66 3.08- 95.13 3.55- GNSF POOL# 640896 DTD 4/1/05 7% 04/15/2035 TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 06/15/2005 06/15/2005 PAYMENT ON 119,836.53 UNITS 101.57 107.65 6.08- 3907 COUNTRYWIDE HOME LOANS SE 109.16 7.59- TOTAL 101.57 UNITS 101.57 107.65 6.08- 109.16 7.59- 26094/003 28 31 187 5638 0000000460-- S SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # PAGE 25 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT DATE DATE DESCRIPTION PROCEEDS MKT/COST BASIS MKT/COST GAIN/LOSS GNSF POOL# 640208 DTD 3/1/05 6.5% 03/15/2035 TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 06/15/2005 06/15/2005 PAYMENT ON 139,281.93 UNITS 9,330.82 9,780.19 870 26 9 449.37- 539.44- 3907 COUNTRYWIDE HOME LOANS SE . , TOTAL 9,330.82 UNITS 9,330.82 9,780.19 9,870.26 449.37- 539.44- GNSF POOL# 641273 DTD 4/1/05 4.5% 04/15/2035 TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 06/15/2005 06/15/2005 PAYMENT ON 79,827.55 UNITS 130.16 128.22 127 31 1.94 2 85 2572 NATIONAL CITY MORTGAGE CO . . TOTAL 130.16 UNITS 130.16 128.22 127.31 1.94 2.85 TOTAL FEDERAL AGENCIES - MORTGAGE BACKED 9,654.13 10,110.72 10,201.86 456.59- 547.73- COMMON STOCKS CAP ONE FINANCIAL CORP TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 06/09/2005 06/14/2005 SOLD 510 SHS AT 74.672 THRU 38,070.92 38,454.00 383.08- LYNCH JONES and RYAN 24,239.21 13,831.71 TOTAL 510 SHS 38,070.92 38,454.00 383.08- 24,239.21 13,831.71 ~.~, 5 SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 SCHEDULE OF REALIZED GAINS & LOSSES PAGE 26 THROUGH 06/30/2005 SALEM TRUST COMPANY AS CUSTODIAN ACCOUNT # 7062037849 FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE TRADE SETTLMT MKT/COST MKT/COST DATE DATE DESCRIPTION PROCEEDS BASIS GAIN/LOSS FASTENAL CO COM TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 06/09/2005 06/14/Z005 SOLD 690 SHS AT 58.476 THRU 40,332.95 40,102.80 230.15 LYNCH JONES and RYAN 36,728.70 3,604.25 TOTAL 690 SHS 40,332.95 40,102.80 230.15 36,728.70 3,604.25 WORTHINGTON INDUSTRIES INC COM TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 06/09/2005 06/14/2005 SOLD 2,080 SHS AT 16.253 THRU 33,763.22 34,860.80 1,097.58- LYNCH JONES and RYAN 35,841.94 2,078.72- TOTAL 2,080 SHS 33,763.22 34,860.80 1,097.58- 35,841.94 2,078.72- ROYAL CARIBBEAN CRUISES LTD COM TOTAL ACTIVITY FROM 06/01/2005 TO 06/30/2005 06/09/2005 06/14/2005 SOLD 850 SHS AT 45.444 THRU 38,608.78 39,193.50 584.72- LYNCH JONES and RYAN 36,964.97 1,643.81 TOTAL 850 SHS 38,608.78 39,193.50 584.72- 36,964.97 1,643.81 TOTAL COMMON STOCKS 150,775.87 152,611.10 1,835.23- 133,774.82 17,001.05 TOTAL REALIZED GAINS & LOSSES 163,365.00 165,656.82 2,291.82- 146,911.68 16,453.32 zouawvua ov o i ~ o ~ aooo wwvvvrov S SALEM TRUST C O M P A N Y Post ONice Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 BROKER NAME LYNCH JONES and RYAN TOTAL ..-~-- SCHEDULE OF BROKERAGE COMMISSIONS SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE NON-DIRECTED AS AGENT AS PRINCIPAL 139.40 139.40 0.00 PAGE 27 ACCOUNT # 7062037849 DIRECTED AS AGENT AS PRINCIPAL 0.00 0.00 28094/003 31 31 187 5638 0000000460-- S,, SALEM TRUST C O M P A N Y Post Office Box 30010 Durham, NC 27702 FOR THE PERIOD 06/01/2005 THROUGH 06/30/2005 DATE DESCRIPTION OTHER EXPENSES -------------- 06/07/2005 MISCELLANEOUS EXPENSE PAID TO GABRIEL ROEDER SMITH & COMPANY SUPP ACT VALUATION RE OF 11/4/04 SHOW COST IMPACT OF SEV PROP CHAN IN GENES 06/17/2005 FOREIGN TAX WITHHELD ON TELECOM CORP NEW ZEALAND LTD SPONSORED ADR TOTAL OTHER EXPENSES SCHEDULE OF FEES AND OTHER EXPENSES SALEM TRUST COMPANY AS CUSTODIAN FOR TEQUESTA PUBLIC SAFETY PENSION FUND VILLAGE OF TEQUESTA ATTN: JODY FORSYTHE CASH TOTAL FEES AND OTHER EXPENSES 2,935.00 98.17 3,033.17 3,033.17 PAGE 28 ACCOUNT # 7062037849 Wachovia Securities FRED P KENNEY 3399 PGA BLVD, STE 400 PALM BEACH GARDE, FL 33410 NETWORK PERFORMANCE REVIEW Second Quarter 2005 00000040 PPW7786D VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION TRUST FUND 250 TEQUESTA DR STE 304 TEQUESTA FL 33469 ~n~~sn~~u~n~~~~n~s~nu~~~~n~~~~~u~~~n~~n~~~tn~~n~~ Account Number 85820313 ^< 0 s Your Advisor ' Manager: Northstar Capital Management FRED P KENNEY Primary Benchmark: Russell 1000 Secondary Benchmark: S&P 500 001 CC12 Inception Date: 04128;2003 561-624-5199 The information provided herein is obtained from sources believed to be reliable, but no representation or warranty is made as to its accuracy or completeness. These investrnents aze not insured or otherwise protected by the U.S. Government, the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other government agency and involve risk, including the possible loss of principal. Wachovia Securities is the trade name under which Wachovia Corporation provides brokerage services through two registered brokerldealers, which are non-bank affiliates of Wachovia Corporation: Wachovia Securities, LLC, member NYSE;'SIPC, and Wachovia Securities Financial Network, LLC, member NASD;'SIPC. Accounts carried by First Clearing, LLC, member NYSE;SIPC. SECURITIES ARE NOT INSURED BY FDIC OR ANY FEDERAL GOVERNMENT AGENCY;NOT A DEPOSIT OF OR GUARANTEED BY A BANK OR ANY BANK AFFILIATE,IMAY LOSE VALUE. __ __ - __ ___ Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Quarterly Review for Period Ended June 30, 2005 Northstar Capital Management Account Number 85820313 Investment Results Current Quarter 03131;05 - 06;30,x05 Beginning Portfolio Value $2,503,418 + Contributions $303,644 Withdrawals $2,743,243 Invested Capital $63,819 Ending Portfolio Value $9,273 Investment Results ($54,546 ) Net Dollar Weighted Return -lo.l $2,920,000 _ $2,190,000_ $1,460,000 _ $730,000 _ $0 _ 5730,000= Year to Date 12,,'31 /04 - 06; 30 05 $2,594,857 $353,821 $2,764,659 $184,019 $9,273 ( $174,746 ) -10.8 One Year 06(30;04 - 06;30,,'05 $2,225,225 $ 588,849 $2,792,777 $21,297 $9,273 ( $12,024 ) -0.6 Invested Capital vs. Your Portfolio Since Inception 04;28;03 - 06;30;05 $1,695,755 $894,580 $2,852,956 ( $262,621 ) $9,273 $271,894 6.8 -'" ---- \ 04/28/03 Jun-03 Sep-03 Dec-03 Mar-04 Jun-U4 Sep-U4 t)ec-U4 Mar-o~ Jun-v~ - - -Invested Capital Your Portfolio Page Explanation: The investment returns provided on the top half of this page are dollar weighted. These returns reflect your decisions to contribute assets to or withdraw assets from the portfolio and are calculated after the deduction of program fees. For results that allow you to evaluate the performance of your portfolio, independent of the timing of your funding decisions, please refer to the time weighted performance returns on the following pages. The Invested Capital vs. Your Portfolio chazt above depicts how your account's value has grown in relation to your out of pocket investment, adjusted for any contributions or withdrawals. Returns aze annualized for time periods greater than one year. Program fees charged to the portfolio are not considered withdrawals and are not included in this illustration. Please refer to the "Glossazy and Index Description" page for an explanation of "Invested Capital". v 0 n 0 Page 2 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management Time Weighted Performance Over Various Periods Current Quarter Year to Date 1 Year 3 Years Your Portfolio (Gross Return) Yaur Portfolio (Gross Return) Primary Benchmark Secondary Benchmark Market Indices: Current Quarter Year to Date I Year (°~o) (°~o) (°io) -2.2 -6.7 -0.6 2.1 0.1 7.9 1.4 -0.8 6.3 5 Years Primazy Benclunazk 3 Years 5 Years Quarterly Review for Period Ended June 30, 2005 Account Number 85820313 7 Years 10 Years Since Inception Month End Secondazy Benchmark Since Inception Since Inception 7 Years 10 Years Month End 04/28/03 6.0 6.6 16.1 14.8 S&P 500 l~s ~s ~s 14s Russel12000 4.3 -1.2 9.5 25.8 MSCC I;AEE -0.8 ` -0.9 ': >~ 14.1 26,fl 60;40 S&P 500; LBGC 2.2 0.6 6.8 10.6 LI3'Gvt;Cr.3n# 2.5 `. ! 1.6 '.I 4s 3.1 CPI 0.9 2.4 2.7 2.7 Account Primazy Benchmark consists of: Russell 1000 Account Secondazy Benchmark consists of: S&P 500 Page Explanation:. This exhibit compazes your portfolio returns to the benchmazk shown above. Your portfolio returns are calculated before the deduction of program fees (gross) and are independent of the timing of your funding decisions (time weighted). This return method is most appropriate when comparing your portfolio's returns to index returns. Returns are annualized for time periods greater than one year. All index returns are unmanaged, include the reinvestment of income, and do not include the deduction of fees. Please refer to the "Glossary and Index Description" page for index definitions. a 0 0 Page 3 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management Portfolio History Annual Rate of Return Period Ending Market Net Cash Value Contributions Withdrawals Flow Quarterly Review for Period Ended June 30, 2005 Account Number 85820313 Your Portfolio * Primary Benchmark * Secondary Benchmark Rate of Return Rate of Return Rate of Return 0412&;2QQ3 2003 ** St,695;735 `` $2,085,544 $226,482 ($22,130) $204,352 10.4 23.8 22.8 2004 ';52,594;857 $314,277 ' t $66;.167) $24$,] lil >s11.8 11:4 10.9 2005 ** $9,273 $353,821 ($2,764,659) ($2,410,838) -6.7 0.1 -0.8 Quarterly Rate of Return Your Portfolio * Primary Benchmark * Secondary Benchmark Ending Market Net Cash Rate of Return Rate of Return Rate of Return Period Value Contributions Withdrawals Flow (%) (%) (%) 3rd Quarter 2004 $2,402,490 $173,742 ($9,108) $164,634 0.4 -1.8 -1.9 4th Quarter 2Q04 SZ,S4d,$57 `61,288,; ($19;Q10) 542,278 6.2 9B 42 1st Quarter 2005 $2,503,418 $50,177 ($21,416) $28,761 -4.6 -1.9 -2.2 2nd Quarter .2005 $x,273 $303,644 "' ('S2,7432d3) ($2,439,599) -2.2 2.i 1.4 * Account Primay Benchmark consists of: Russell 1000 * Account Secondazy Benchmazk consists of: SdrP 500 ** Denotes a paztial time period. The indexes displayed are calculated stazting from the end of the month of inception. Page Explanation: This exhibit illustrates the portfolio's inception date and value, ending mazket values, contributions, withdrawals, and rates of returns for your portfolio and your Primay Benchmazk. Withdrawals exclude program fees, and ending market values aze shown after the deduction of program fees. Returns in this exhibit aze gross time-weighted and aze annualized for time periods greater than one year. All index returns aze unmanaged, include the reinvestment of income, and do not include the deduction of fees. Page 4 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management to.o 16.0 0 a ~ 12.0 w a W 0 V z s.o a.o 0.0 Comparative Risk/Return Chart April 30, 2003 through June 30, 2005 More Return I More Retum Less Risk I I More Risk ---------------------- --------------------------- •~ I I I I I I I I I ^ I I I I I ess Return I Less Retum Less Risk I I More Risk 0 3 6 9 12 15 to Standard Deviation (%) Quarterly Review for Period Ended June 30, 2005 Account Number 85820313 Rate of Standard Return (%) Deviation (%) ~ Your PorNolio 6.0 5.8 • Primary Benchmark 16.1 8.4 ~ Secondary Benchmark 14.8 8.2 X US 30 day T-Bill 1.4 0.2 < I 0 0 6 z 0 3 M O O O 0 0 0 Account Primazy Benchmark consists of: Russell 1000 Account Secondazy Benchmark consists of: SAP 500 Page Explanation: This chazt represents how much risk your money manager accepted to achieve your. returns. Risk, denoted above as Standard Deviation, is a measure of the variability of a portfolio's monthly returns. A diagonal line is drawn from the T-Bill "Risk Free" investment through the .relevant Primary Benchmazk to illustrate the risk return relationship (this is called the Capital Mazket Line). All points above this line represent more return for risk taken and all points below this line represent less return for risk taken. This is where you can see how "efficient" your money manager was in achieving your return compared to the risk associated with the money manager's Primazy Benchmazk. Returns in this chart aze gross time-weighted and aze annualized for time periods greater than one yeaz. All index returns include the reinvestment of income. Past Performance. is not a guarantee of future results. t t t t 1 1 1 Page 5 of 10 __ __ _ _ _ Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management Sector Allocation Quarterly Review for Period Ended June 30, 2005 Account Number 85820313 Equity Holding Summary Total Equity o.o $o Non-Equity 0.0 $0 Cash 100.0 $9,274 Total Account 100.0 $9,274 Cash 100.0 e 0 n n 0 N 0 2 N 3 N n Pare Explanation: 8 The exhibit above provides you with a complete :overview of your portfolio holdings as of the end of this reporting period. The exhibit classifies your portfolio's current holdings by Economic Sector and details your Lazgest Holdings. Both the Sector Allocation and Lazgest Holdings information represent the diversification of your portfolio relative to the stated Economic Sectors. ~ 0 Page 6 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management Capital Markets Review June 30, 2005 e S Equity markets continued with a somewhat directionless movement through the second quarter of 2005 that mirrored that of the first quarter of the year. Returns on investments in the equity markets took a back seat to the gains seen in the real estate sector in select market across the U.S. Investors with exposure to energy commodities, specifically oil, also saw considerable gains during the second quarter of 2005. In what was essentially a repeat of the news during the first quarter of 2005, the second quarter of the year brought with it many of the same headlines. The continuing military conflict in Iraq, as well as record level energy prices, served as catalysts to dampen equity market returns. Additionally, low mortgage rates and a seemingly endless supply of home-buyers allowed for historically high gains in the housing markets in some areas of the country. The U.S. Federal Reserve Board voted to increase the Federal Funds target rates by 25 basis points for the eighth and ninth consecutive times during the quarter, with rates ending the second quarter of 2005 at 3.25°io. With the volatility in the equity markets during the quarter, investors with exposure to commodities based on oil and other energy prices fared quite well. Crude oil prices hit record levels, with the widely recogmzed North Sea Oil prices reaching $60 per barrel during the quarter. According to Standard & Poor's, the Energy sector saw reasonable returns again during the second quarter with a gain of 1.5%. The Utilities sector was the only economic sector with a higher return for the period, up 8.4%. Overall, the U.S. equity markets were flat to slightly down during the quarter due in part to wornes about energy prices and their Quarterly Review for Period Ended June 30, 2005 Account Number 85820313 impact on consumer spending and corporate profits. For the second quarter, the S&P 500 posted a return of 1.36°.•0. The International markets were no less volatile than the U.S. markets during the second quarter. In April, China posted first quarter 2005 GDP growth of 9.5°0, helping to sustain speculative investments within the region. Sony Corp. posted a 15% rise in annual operating profits, ending March 31, 2005, helping the Asian equity markets during the early part of the second quarter. The Bank of England left interest rates on hold in May, citing that evidence is building that the economy is slowing faster than economists had originally predicted. The MSCI EAFE Index fuushed the second quarter of 2005 with a return of -0.75°io Treasury prices experienced a bit of the same volatility witnessed in the equity markets during the quarter, with fixed income pundits suggesting there is a bit of a conundrum in the fixed income markets. Even Federal Research Chairman Alan Greenspan is having difficulty understanding the continuing decrease in yields on longer term bonds, while the Fed continues to increase rates on the short end. The 10-year treasury yield finished the second quarter of 2005 yielding 3.94%. If you have any changes in your fmancial circumstances or objectives, please contact your Financial Advisor. Our only objective is to meet your objectives so please keep us abreast of any changes. If you would like an up-to-date Disclosure Document for the advisory services you are currently using, please contact your Financial Advisor. I I ~ I I 1 1 ' Page 7 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Quarterly Review for Period Eoded June 30, 2005 Northstar Capital Management Account Number 85820313 Glossary and Index Description Accrued Income - The interest earned but not received at both the beginning and end of each reporting period. It is important to include accrued income in portfolio valuations and performance measurement, particularly for bond portfolios where income is the primary determinant of the portfolio return. Annualized Return - The average annual rate of return achieved by the portfolio or index. This return should not be used for periods less than one year. Current Yield - Is derived by dividing the estimated annual income by the current value of the security. Dollar-Weighted Rate of Return - A measure of the portfolio's rate of growth in total dollar value. Provides an indication of the performance of the individual total portfolio. A dollaz-weighted return reflects both the timing and magnitude of cash flows to and from the portfolio and, as a result, should not be used to measure the performance of the investment manager. Economic Sector - The Standard & Poor's Corp. has classified 10 discrete industries, as well as an "other' category. These 11 "sectors" represent all aspects of the nature of the securities in the economy and can be used to evaluate your asset allocation. Estimated Annual Income - Is based upon the dividend or interest expected to be received annually. Invested Capital - A portfolio's value at the beginning of a stated time period plus contributions andjor less withdrawals. Standard Deviation - A statistical measure of risk reflecting the extent to which rates of return for a portfolio or index may vary from period to period and gauges the dispersion on monthly returns around the average return. The larger the Standard Deviation, the greater the range of possible returns and, therefore, the more risky the portfolio or index. Time-Weighted Rate of Return - A measure of the investment performance of the investment manager, independent of the timing and magnitude of contributions to or withdrawals from the portfolio. This method allows the evaluation of the investment manager to be based solely on his/her performance since it eliminates the effect of factors that are not under the manager's control (that is, cash flows). This is the most appropriate figure to compare the account performance to comparative indexes and other investment managers. Consumer Price Index (CPI) - A measure of the average change in prices over time; determined by the movement in cost for basic goods and services. It is calculated by the Bureau of Labor Statistics and published monthly. Due to a late publishing date each month, the index number provided always includes an estimated return for the prior month. Lehman Brothers Government/Credit Intermediate Bond Index - Composed of all bonds that are investment grade (rated Baa or higher by Moody's or BBB or higher by SBtP, if unrated by Moody's) with maturities between 1 and 9.99 years. Issues must have at least one year to maturity. Total return comprises price appreciation%depreciation and income as a percentage of the original investment. The index is rebalanced monthly by market capitalization. MSCI SAFE - A Morgan Stanley Capital International market value-weighted average of the performance of over 900 securities from Europe, Australia and the Far East. Russell 1000 Index - This lazge-capitalization (market-oriented) index consists of the 1,000 largest securities on the Russell 3000 Index and represents the universe of stocks from which most active money managers typically select. Conti-ured on the next page Page 8 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management Quarterly Review For Period Ended June 30, 2005 Account Number 85820313 Russell 2000 Index - Consists of the smallest 2,000 securities in the Russell 3000 Index. This is the Frank Russell Company's small-capitalization index that is widely regarded in the industry as the premier measure of small-capitalization stocks. S&P 500 Index - Consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index (stock price times number of shares outstanding), with each stock's weight in the Index proportionate to its market value. The "500" is one of the most widely used benchmarks of U.S. equity performance. U.S. T-Bills - Based on the average monthly yield of 30 day U.S. Treasury Bills. 60/40 S&P 500/LBGC - A 60%f40°.u blend of the S&P 500 and the Lehman Brothers Government Credit Bond Index. The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index (stock price times number of shares outstanding), with each stock's weight in the index proportionate to its market value. The "500" is one of the most widely used benchmarks of U.S. equity performance. The Lehman Brothers Government!Credit Bond Index index is composed of all bonds that are investment grade (rated Baa or higher by Moody's or BBB or higher by S&P, if unrated by Moody's). Total return comprises price appreciationJdepreciation and income as a percentage of the original investment. The index is rebalanced monthly by market capitalization. 0 0 0 a z 0 z 3 $~ 8 .g 0 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Nortttstar Capital Management Important Disclosures Quarterly Review for Period Ended June 30, 2005 Aceount Number 85820313 It is our privilege to have you as an investor in our program. Your first quarterly performance review is provided after your account has been actively managed for a full month. Total market values are calculated on a trade date basis; fixed income includes accruals. Prices in this report are obtained from various quotation services, which we believe to be reliable. However, we cannot guarantee their accuracy. Such prices are based on the closing prices for listed securities, or the bid price for unlisted securities, at month end. If your portfolio is invested in fixed income instruments, pricing information contained in this monitor is based upon the assumption securities held in your account will be bunched with client accounts for purchase and sale purposes. There can be no assurance that such prices will be attained in instances where orders are not bunched. If month-end market prices are not available, municipal and other debt security valuations may be based upon the values of similar issues. These prices do not necessarily represent the prices at which those securities could have been bought or sold. Securities in this account are subject to change. Price fluctuations may affect the performance information provided. To ensure consistency with the calculations of your comparative indexes, performance measurement starts at the end of the month in which you made your initial investment. Performance returns are annualized for periods greater than one year unless indicated. Indexes are presented to provide you with an understanding of their historic long-term performance, not to illustrate the perfotYttance of any security. Please note that index returns do not reflect transaction cost. An actual investment in the securities comprising an index would require an investor to incur transaction costs, with a consequent reduction in performance. Past performance is not indicative of future results. Please contact your Financial Advisor if there have been any changes in your financial situation or investment objectives, or if you wish to impose any reasonable restrictions on the management of your account or reasonably modify existing restrictions. The Wachovia Securities Investment Consulting Advisory Services Disclosure Document is available without charge upon request. Please contact your Financial Advisor to receive a copy of these documents. Wachovia Securities, LLC, member NYSE & SIPC For terms and definitions, please refer to the Glossary and Index Description page in this monitor. ^,~~c ~~ ~~ ~~~~~ ~~ ~ a~~~~o ~~~ `'~~~ ~ ~~~ Information contained herein is based on data obtained from recognized statistics services, issuer reports, communications, or other sources believed to be reliable. However, we cannot make any representation as to its accuracy or completeness. Any statements non factual in nature constitute only current opinions, which are subject to change. Page 10 of 10 Wachovia Securities FRED P KENNEY Account Number 85820313 3399 PGA BLVD, STE 400 PALM BEACH GARDE, FL 33410 NETWORK PERFORMANCE REVIEW Second Quarter 2005 00000040 PPW7iB6D VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION TRUST FUND 250 TEQUESTA DR STE 304 TEQUESTA FL 33469 ~u~~n~~~n~n~~~~n~~~nu~i~~n~~~~~n~~~n~~ni~~nn~n~~ Your Advisor : Manager: Northstar Capital Management FRED P KENNEY Primary Benchmark: Russell 1000 a Secondary Benchmark: SdtP 500 001 CC12 Inception Date: 04/28%2003 ~ 561-624-5199 ~ a Z 0 N 3 0 0 he information provided herein is obtained from sources believed to be reliable, but no representation or warranty is made as to its accuracy or completeness. These investments aze not insured or otherwise protected by the U.S. Government, the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other goverriffient agency and involve risk, including the possible loss of principal. 0 0 0 o Wachovia Securities is the trade name under which Wachovia Corporation provides brokerage services through two registered brokeridealers, which are non-hank affiliates of Wachovia Corporation: Wachovia Securities, LLC, ° member NYSE;SIPC, and Wachovia Securities Financial Network, LLC, member NASD;5IPC. Accounts carried by First Clearing, LLC, member NYSE;5IPC. a SECURITIES ARE NOT INSURED BY FDIC OR ANY FEDERAL GOVERNMENT AGENCl';NOT A DEPOSIT OF OR GUARANTEED BY A BANK OR ANY BANK AFFILIATE,IMAY LOSE VALUE. o I I I I I Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management Investment Results Beginning Portfolio Value + Contributions - Withdrawals Invested Capital Ending Portfolio Value Investment Results Net Dollar Weighted Return $2,920,000 $2,190,000 _ 51,460,000 _ 5730,000 _ $0_ 573o,ooa_ Current Quarter 03;31;05 - 06;30;05 $2,503,418 $303,644 $2,743,243 Year to Date 12;31;04 - 06;30;05 52,594,857 $353,821 $2,764,659 Quarterly Review for Period Ended Juue 30, 2005 Account Number 85820313 One Year Since Inception 0630j04 - 06;30;05 04;28;03 - 06;30;05 $2,225,225 51,695,755 $588,849 $894,580 82,792,777 $2,852,956 $63,819 $184,019 $21,297 ($262,621 ) $9,273 $9,273 $9,273 59,273 ( 554,546) ($174,746) ($12,024) $271,894 -10.1% -10.8% -0.6% 6.8% Invested Capital vs. Your Portfolio 04/Zii/03 Jun-03 Sep-03 llpc-03 Mar-04 Jun-04 Sep-04 Dec-04 Mar-OS Jun-OS - - -Invested Capital Your Portfolio Page Explanation: The investment returns provided on the top half of this page are dollar weighted. These returns reflect your decisions to contribute assets to or withdraw assets from the portfolio and are calculated after the deduction of program fees. For results that allow you to evaluate the performance of your portfolio, independent of the liming of your funding decisions, please refer to the time weighted performance returns on the following pages. The Invested Capital vs. Your Portfolio chazt above depicts how your account's value has grown in relation to your out of pocket investment, adjusted for any contributions or withdrawals. Returns aze annualized for time periods greater than one year. Program fees charged to the portfolio are not considered withdrawals and are not included in this illustration. Please refer to the "Glossary and Index Description" page for an explanation of "Invested Capital". a 0 0 N a 0 3 W m i; a a S 0 8 0 a "' Page 2 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management Time Weighted Performance Over Various Periods Quarterly Review for Period Ended June 30, 2005 Account Number 85820313 Current Since Inception Since Inception Quarter Year to Date 1 Year 3 Years 5 Years 7 Years 10 Years Month End 04/28/03 Your Portfolio (Gross Return) -2.2 -6.7 -0.6 6.0 6.6 Primary Benchmark 2.1 0.1 7.9 16.1 Secondary Benchmark 1.4 -0.8 6.3 14.8 Market Indices: a 0 0 0 N F N d Account Primary Benchmark consists of: Russell 1000 0 Account Secondary Benchmark consists of: S&P 500 ~ 3 Page Explanation: o This exhibit compares your portfolio returns to the benchmark shown above. Your portfolio returns are calculated before the deduction of program fees (gross) and are independent of the timing of g your funding decisions (time weighted). This return method is most appropriate when comparing your portfolio's returns to index returns. Returns are annualized for time periods greater than one ~~~ yeaz. All index returns are unmanaged, include the reinvestment of income, and do not include the deduction of fees. Please refer to the "Glossary and Index Description" page for index definitions. g Page 3 of 10 Current Quarter Year to Date 1 Year 3 Years 5 Years 7 Years 10 Years Since Inception Month End Your Portfolio (Gross Return) Primary Benchmazk Secondazy Benchmazk Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Quarterly Review for Period Eaded June 30, 2005 Northstar Capital Management Account Number 85820313 Portfolio History Annual Rate of Return Your Portfolio * Primary Benchmark * Secondary Benchmark Ending Market Net Cash Rate of Return Rate of Return Rate of Return Period Value Contributions Withdrawals Flow (%) (%) (%) Quarterly Rate of Return Your Portfolio * Primary Benchmark * Secondary Benchmark Ending Market Net Cash Rate of Return Rate of Return Rate of Return Period Value Contributions Withdrawals Flow (%) (%) (%) 3rd Quarter 2004 st $173,742 ($9,108 177 ($21,416 761 * Account Primary Benchmazk consists of Russell 1000 * Account Secondary Benchmazk consists of: S6cP 500 ** Denotes a paztial time period. The indexes displayed are calculated stazting from the end of the month of inception. 0.4 -1.8 -1.9 -2.2 Page Explanation: This exhibit illustrates the portfolio's inception date and value, ending mazket values, contributions, withdrawals, and rates of returns for your portfolio and your Primay Benchmark. Withdrawals exclude program fees, and ending market values aze shown after the deduction of program fees. Returns in this exhibit are gross time-weighted and aze annualized for time periods greater than one yeaz. All index returns are unmanaged, include the reinvestment of income, and do not include the deduction of fees. Page 4 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Quarterly Review for Period Ended June 30, 2005 Northstar Capital Management Account Number 85820313 20.0 16.0 12.0 m a W 0 y a s.o a.o 0.0 Comparative RiskJReturn Chart April 30, 2003 through June 30, 2005 I More Retum I More Return Less Risk ~ More Risk ---------------------- --------------------------- •~ I I I I I I I I I I ^ I I I I I ess Return I Less Return Less Risk j More Risk 1 3 6 9 Standard Deviation (%) 12 15 Rate of Standard Return (%) Deviation (%) a 0 0 ~ Your Portfolio 6.0 5.8 • Primary Benchmark 16.1 8.4 M ~ Secondary Benchmark 14.8 8.2 X US 30 day T-Bill 1.4 0.2 F ~I Account Primary Benchmark consists of: Russell 1000 0 Account Secondary Benchmark consists of: S&P 500 ~ N 3 0 c4i 0 Page Explanation: ° This chazt represents how much risk your money manager accepted to achieve your returns. Risk, denoted above as Standard Deviation, is a measure of the variability of a portfolio's monthly returns. A diagonal line is drawn from the T-Bill "Risk Free" investment through the relevant Primary Benchmark to illustrate the riskJreturn relationship (this is called the Capital Mazket Line). All points a above this line represent more return for risk taken and all points below this line represent less return for risk taken. This is where you can see how "efficient" your money manager was in achieving your return compared to the risk associated with the money manager's Primazy Benchmark. Returns in this chart are gross time-weighted and are annualized for time periods greater than one yeaz. All index returns include the reinvestment of income. Past Performance is not a guarantee of future results. S I I I ( I I I Page 5 of 10 1 )< Wachov a Secur t es VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Quarterly Review for Period Ended June 30, 2005 Northstar Capital Management Account Number 85820313 Equity Holding Summary Total Equity o.o so Non-Equity 0.0 $0 Cash 100.0 $9,274 Sector Allceation Total Account loo.o $9,2~a o io Page Explanation: The exhibit above provides you with a complete overview of your portfolio holdings as of the end of this reporting period. The exhibit classifies your portfolio's current holdings by Economic Sector and details your Largest Holdings. Both the Sector Allocation and Largest Holdings information represent the diversification of your portfolio relative to the stated Economic Sectors. Page 6 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management Capital Markets Review June 30, 2005 Equity markets continued with a somewhat directionless movement through the second quarter of 2005 that mirrored that of the first quarter of the year. Returns on investments in the equity markets took a back seat to the gains seen in the real estate sector in select market across the U.S. Investors with exposure to energy commodities, specifically oil, also saw considerable gains during the second quarter of 2005. In what was essentially a repeat of the news during the first quarter of 2005, the second quarter of the year brought with it many of the same headlines. The continuing military conflict in Iraq, as well as record level energy prices, served as catalysts to dampen equity market returns. Additionally, low mortgage rates and a seemingly endless supply of home-buyers allowed for historically high gains in the housing markets in some areas of the country. The U.S. Federal Reserve Board voted to increase the Federal Funds target rates by 25 basis points for the eighth and ninth consecutive times during the quarter, with rates ending the second quarter of 2005 at 3.25°ro. With the volatility in the equity markets during the quarter, investors with exposure to commodities based on oil and other energy prices fared quite well. Crude oil prices hit record levels, with the widely recognized North Sea Oil prices reaching $60 per barrel during the quarter. According to Standard & Poor's, the Energy sector saw reasonable returns again during the second quarter with a gain of 1.5%. The Utilities sector was the only economic sector with a higher return for the period, up 8.4%. Overall, the U.S. equity markets were flat to slightly down during the quarter due in part to worries about energy prices and their Quarterly Review for Period Ended June 30, 2005 Account Number 85820313 impact on consumer spending and corporate profits. For the second quarter, the S&P 500 posted a return of 1.36:.0. The International markets were no less volatile than the U.S. markets during the second quarter. In April, China posted first quarter 2005 GDP growth of 9.5;'0, helping to sustain speculative investments within the region. Sony Corp. posted a 15% rise in annual operating profits, ending March 31, 2005, helping the Asian equity markets during the early part of the second quarter. The Bank of England left interest rates on hold in May, citing that evidence is building that the economy is slowing faster than economists had originally predicted. The MSCI EAFE Index finished the second quarter of 2005 with a return of -0.75°ro Treasury prices experienced a bit of the same volatility witnessed in the equity markets during the quarter, with fixed income pundits suggesting there is a bit of a conundrum in the fixed income markets. Even Federal Research Chairman Alan Greenspan is having difficulty understanding the continuing decrease in yields on longer term bonds, while the Fed continues to increase rates on the short end. The 10-year treasury yield finished the second quarter of 2005 yielding 3.94%. If you have any changes in your financial circumstances or objectives, please contact your Financial Advisor. Our only objective is to meet your objectives so please keep us abreast of any changes. If you would like an up-to-date Disclosure Document for the advisory services you are currently using, please contact your Financial Advisor. I I I I I I I I Page 7 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Quarterly Review for Period Ended June 30, 2005 Northstar Capital Management Account Number 85820313 Glossary and Index Description Accrued Income - The interest earned but not received at both the beginning and end of each reporting period. It is important to include accrued income in portfolio valuations and performance measurement, particularly for bond portfolios where income is the primary determinant of the portfolio return. Annualized Return - The average annual rate of return achieved by the portfolio or index. This return should not be used for periods less than one yeaz. Current Yield - Is derived by dividing the estimated annual income by the current value of the security. Dollar-Weighted Rate of Return - A measure of the portfolio's rate of growth in total dollar value. Provides an indication of the performance of the individual total portfolio. A dollaz-weighted return reflects both the timing and magnitude of cash flows to and from the portfolio and, as a result, should not be used to measure the performance of the investment manager. Economic Sector - The Standard 8t Poor's Corp. has classified 10 discrete industries, as well as an "other° category. These 11 "sectors" represent all aspects of the nature of the securities in the economy and can be used to evaluate your asset allocation. Estimated Annual Income - Is based upon the dividend or interest expected to be received annually. Invested Capital - A portfolio's value at the beginning of a stated time period plus contributions andjor less withdrawals. Standard Deviation - A statistical measure of risk reflecting the extent to which rates of return for a portfolio or index may vary from period to period and gauges the dispersion on monthly returns around the average return. The larger the Standard Deviation, the greater the range of possible returns and, therefore, the more risky the portfolio or index. Time-Weighted Rate of Return - A measure of the investment performance of the investment manager, independent of the timing and magnitude of contributions to or withdrawals from the portfolio. This method allows the evaluation of the investment manager to be based solely on his/her performance since it eliminates the effect of a factors that are not under the manager's control (that is, cash flows). This is the most appropriate figure to compare the account performance to comparative indexes and ° other investment managers. 0 Consumer Price Index (CPI) - A measure of the average change in prices over time; determined by the movement in cost for basic goods and services. It is calculated by the Bureau of Labor Statistics and published monthly. Due to a late publishing date each month, the index number provided always includes an estimated return for the prior month. N W Lehman Brothers Government/Credit Intermediate Bond Index - Composed of all bonds that are investment grade (rated Baa or higher by Moody's or BBB or higher by ~ S&P, if unrated by Moody's) with maturities between 1 and 9.99 yeazs. Issues must have at least one year to maturity. Total return comprises price appreciationjdepreciation and income as a percentage of the original investment. The index is rebalanced monthly by market capitalization. o MSCI EAFE - A Morgan Stanley Capital International mazket value-weighted average of the performance of over 900 securities from Europe, Australia and the Far 3 East. a 0 0 a Russell 1000 Index - This lazge-capitalization (market-oriented) index consists of the 1,000 largest securities on the Russell 3000 Index and represents the universe of $ stocks from which most active money managers typically select. a 0 0 0 0 Contuwed on the next page o Page 8 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Quarterly Review For Period Ended June 30, 2005 Northstar Capital Management Account Numher 85820313 Russell 2000 Index - Consists of the smallest 2,000 securities in the Russell 3000 Index. This is the Frank Russell Company's small-capitalization index that is widely regazded in the industry as the premier measure of small-capitalization stocks. S&P 500 Index - Consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index (stock price times number of shares outstanding), with each stock's weight in the Index proportionate to its market value. The "500" is one of the most widely used benchmarks of U.S. equity performance. U.S. T-Bills - Based on the average monthly yield of 30 day U.S. Treasury Bills. 60/40 S&P 500/LBGC - A 60%;'40°.n blend of the S&P 500 and the Lehman Brothers Government Credit Bond Index. The S&P 500 Index consists of 500 stocks chosen for market size, liquidity, and industry group representation. It is a market-value weighted index (stock price times number of shares outstanding), with each stock's weight in the index proportionate to its market value. The "500" is one of the most widely used benchmarks of U.S. equity performance. The Lehman Brothers GovernmentiCredit Bond Index index is composed of all bonds that are investment grade (rated Baa or higher by Moody's or BBB or higher by S&P, if unrated by Moody's). Total return comprises price appreciationidepreciation and income as a percentage of the original investment. The index is rebalanced monthly by market capitalization. 0 s a 0 3 0 0 0 0 0 Page 9 of 10 Wachovia Securities VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION Northstar Capital Management Important Disclosures Quarterly Review for Period Ended June 30, 2005 Account Number 85820313 It is our privilege to have you as an investor in our program. Your first quarterly performance review is provided after your account has been actively managed for a full month. Total market values are calculated on a trade date basis; fixed income includes accruals. Prices in this report are obtained from various quotation services, which we believe to be reliable. However, we cannot guarantee their accuracy. Such prices are based on the closing prices for listed securities, or the bid price for unlisted securities, at month end. If your portfolio is invested in fixed income instruments, pricing information contained in this monitor is based upon the assumption securities held in your account will be bunched with client accounts for purchase and sale purposes. There can be no assurance that such prices will be attained in instances where orders are not bunched. If month-end market prices are not available, municipal and other debt security valuations may be based upon the values of similar issues. These prices do not necessarily represent the prices at which those securities could have been bought or sold. Securities in this account are subject to change. Price fluctuations may affect the performance information provided. To ensure consistency with the calculations of your comparative indexes, performance measurement starts at the end of the month in which you made your initial investment. Performance returns are annualized for periods greater than one year unless indicated. Indexes are presented to provide you with an understanding of their historic long-term performance, not to illustrate the performance of any security. Please note that index returns do not reflect transaction cost. An actual investment in the securities comprising an index would require an investor to incur transaction costs, with a consequent reduction in performance. Past performance is not indicative of future results. Please contact your Financial Advisor if there have been any changes in your fmancial situation or investment objectives, or if you wish to impose any reasonable restrictions on the management of your account or reasonably modify existing restrictions. The Wachovia Securities Investment Consulting Advisory Services Disclosure Document is available without charge upon request. Please contact your Financial Advisor to receive a copy of these documents. Wachovia Securities, LLC, member NYSE & SIPC For terms and definitions, please refer to the Glossary and Index Description page in this monitor. ^`C '~~ ~~a3~ ~~ ~~ ~°~~" Information contained herein is based on data obtained from reco;~ized statistics services, issuer reports, communications, or other sources believed to be reliable. However, we cannot make any representation as to its accuracy or completeness. Any statements non factual in nature consfitute only current opinions, which are subject to change. 10 oflU ''"7,;, Cam, ~ACHOVIA SECiTRi`TIES Your Financial Advisor: FRED P KENNEY 3399 PGA BLVD STE 400 PALM BEACH GdRDENS FL 33410 561.624-5199 /888-246-7564 Copies of this statement have been sent to an interested party. Please contact Your Financial Advisor for details. For Banking Inquiries: En Espanol: (800) COMMAND (800) 326-8977 (800) 266-6263 Total Value Comparison 1, ,, Asset Allocation (Portfolio Assess) Cash and Money Market Command Asset Program 15,50, VILLAGE OF TEQUEST. A Page 1 of 12 PUBLIC SAFETY OFFICERS PENSION TRUST FUND ACCOUNT STATEMENT Sub /Branch /Rep /Account No, /CAP Account No. ~.J01 / CC / CC12 / 8582-0313 / 9075225708 April 1 -April 30, 2005 Gain/Loss Summary Total Realized Gain/Loss $443.75 $15,481.01 Unrealized Gain/Loss Current Short-term $0 00 Long-term $9.00 Total Unrealized Gain/Loss $0.00 WSS25FLT 005736 120204050225 NNNNN NNNNN NNNNNYNN 000005 05104 06/04 07104 08/04 09/04 10V04 11!04 12/04 01/05 02/05 03 05 04/05 Portfolio Summary Portfolio Assets These positions reflect purchases made through us or information supplied to us; they are displayed for informational purposes only. If you no longer own any of these investments, please tell us so we can uQdate this section. These assets are not included in the net portfolio value, and are not Command Asset Program ,5,5oz Investment Objective/Risk Tolerance: GROWTH + MODERATE Additional Information VILLAGE OF TEQUESTA Page 2 of 12 PUBLIC SAFETY OFFICERS PENSION TRUST FUND Sub /Branch !Rep /Account No. /CAP Account No. 001 / CC / CC12 / 8582-0313 / 9075225708 April 1 -April 30, 2005 Available Funds Cash 9,153.58 Money Market 0.00 Available Margin 0.00 Total Funds Available $9,153.58 Sweep Option EVERGREEN US GOVERNMENT MONEY MARKET FUND CL S1 "Available Margin" reflects the approximate amount available as of the statement period ending date and should be reduced by any pending checks and Visa chargges not yet cleared. This amount is the approximate amount available for withdrawal and loans. A margin loan is a variable rate loan secured by your account. Income Summary Tax-Exempt Income Year-to-Date: $0.00 Other Income Year-to-Date: $19,798.43 Tax-exempt income and other income year-to-date totals are taken from the tax reporting system. They may not match back to the activity summary due to reclassification activity. MonEy market income can be either taxable or tax exempt and is not reflected in either of these totals. The YTD Money market income is displayed in the Cash Activity Summary. (Mone market income from FDIC funds is shown in the Interest line of the Cash Activity Summary, not the Money market income line.) The Cash Activity Summary is based on the activity that has been shown on this statement, not what will be reported to you on your forms 1099. This statement is not a tax document, and should be used for informational purposes only. Cash Activity Summary Total Cash and Money Market Funds on Mar 31 • $224 034 08 ~II~IIINIII8191VIIIIIIIIVIIIIUIIIIIIIB9111 Total Activity $334 870.96 - $549 751.46 Total Cash and Money Market Funds on Apr 30: $9,153.58 . ,_ 15,503 WACHOVIA SEG~LTRITIES VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION TRUST FUND Page 3 of 12 ACCOUNT STATEMENT Sub /Branch /Rep 1 Account No. I CAP Account No. 001 / CC ! GC12 / 8582-0313 / 9075225708 April 1 -April 30, 2005 Portfolio Assets This section includes estimated or unrealized gains or losses for your information only and should not be used for tax purposes. If acquisition information is not available, the gain/loss information may not be displayed and section and summary totals may not reflect your complete portfolio. Cost basis information provided by the account owner is not verified by First Clearing, LLC and should not be relied upon for legal or tax purposes. Bonds purchased at a premium or O.I.D. (Original Issue Discount) will be carried at the original cost basis. Factored bonds (GNMA, CMO, etc.) will be adjusted for paydown of principal, Systematic investments in mutual funds and reinvested dividends for mutual funds and stocks have been consolidated for each position, Unit cost data for systematic investments and dividend reinvestment securities is provided for informational purposes only and is anon-weighted average. To update your cost information or provide omitted cost information, contact Your Financial Advisor. Estimated CurrentYield on Money Market funds, when available, reflects the current estimated yield for the Interest Period dates displayed. Estimated Annual Income, when available, reflects the estimated amount you would earn on a security if your current position and its related income remained constant for a year. Estimated Annual Yield, when available, reflects the current estimated annual income divided by the current value of the security as of the statement closing date. The information used to derive these estimates is obtained from various outside vendors; FCC is not responsible for incorrector missing estimated annual income and yields, Cash and Money Market Funds Est current Description Current market value Est. ann. income yield(%) Cash $9,153.58 Total Cash and Money Market Funds $9,153.58 Curious how your securities are performing? The "Unrealized Gain/Loss" column tells you how much each stock has increased or decreased in value since you bought it (based on cost data supplied by you or by outside services, which may not be complete), Revisions to this information (because of corporate mergers, tenders and other reorganizations, for example) may be necessary from time to time, To update your cost information or provide omitted costs, contact Your Financial Advisor, Activity Detail Securities Sold and Redeemed Date Account Type Transaction puantity Description Price Amount 04/01 Cash REDEMPTION - 25,000.00000 PENN PWR & LT $25,000.00 1 ST MTG BD NON CALL LIFE CPN e.500% DUE 04/01/05 DTD 04/01/93 FC 10/01/93 CUSIP 7090518U9 Total Securities Sold and Redeemed : $25,000.00 WSS25FLT 005736 120204050225 NNNNN NNNNN NNNNNYNN 000006 15,504 VILLAGE OF TEQUESTA Page 4 of 12 PUBLIC SAFETY OFFICERS PENSION TRUST FUND Sub /Branch /Rep !Account No. /CAP Account No. 001 / CC / CC12 / 8582-0313 / 9075225708 April 1 -April 30, 2005 Activity Detail continued Deposits and Withdrawals Date Account Type Transaction Description 04!12 Cash DEPOSIT FUNDS RECD Amount 04/12 Cash DEPOSIT FUNDS RECD $11,883.01 04/19 Cash ASSET TRF - 600.00000 ALCON INC $8,206.52 04/19 Cash ASSET TRF - 600.00000 AMBAC FINL GROUP INC $0.00 04/19 Cash ASSET TRF - 1,000.00000 AMERICAN EXPRESS COMPANY $0.00 04/19 Cash ASSET TRF - 800.00000 AMGEN INC $0.00 04/19 Cash ASSET TRF - 1,600.00000 AUTODESK INC $0.00 04/19 Cash ASSET TRF - 700.00000 CAPITAL ONE FINANCIAL $0.00 CORP $0.00 04/19 Cash ASSET TRF - 100.00000 CHICAGO MERCANTILE EXCHANGE $0.00 04/19 Cash ASSET TRF - 2,000.00000 COACH INC 04/19 Cash ASSET TRF - 1,000.00000 COSTCO WHSL CORP NEW $0.00 COM $0.00 04/19 Cash ASSET TRF -250.00000 CONOCOPHILLIPS 04/19 Cash ASSET TRF -1,100.00000 DELL INC $0.00 04/19 Cash ASSET TRF - 1,200.00000 EBAY INC $0.00 04/19 Cash ASSET TRF - 600.00000 FEDEX CORPORATION $0.00 04/19 Cash ASSET TRF - 1,400.00000 GENERAL ELECTRIC COMPANY $0.00 04/19 Cash ASSET TRF - 400.00000 HARMAN INTL INDS INC NEW $0.00 04/19 Cash ASSET TRF - 800.00000 INFOSYS TECHNOLOGIES $0.00 SP ADR $0.00 04/19 Cash ASSET TRF - 300.00000 LEGG MASON INC 04/19 Cash ASSET TRF - 700.00000 L-3 COMMUNICATIONS HLDGS $0.00 INC $0.00 04/19 Cash ASSET TRF - 1,000.00000 LOWES COMPANIES INC 04/19 Cash ASSET TRF - 1,600.00000 MARVELLTECHNOLOGY $0.00 GROUP LTD $0.00 04/19 Cash ASSET TRF - 900.00000 MEDTRONIC INC 04/19 Cash ASSET TRF - 600.00000 MOODY'S CORP $0.00 $0.00 IIII III II III III II I II IIII II I I II I'll! I Iilll I II I IIII I IIII 15,505 WACHOVIA SECURITIES i/ILLAGE OF TEQUESTA Page 5 of 12 PUBLIC SAFETY OFFICERS PENSION A c c o u N T s TAT E M E N T TRUST FUND Sub /Branch /Rep /Account No. /CAP Account No. 001 / CC ! CC12 /8582-0313 / 9075225708 April 1 -April 30, 2005 Activity Detail continued Deposits and Withdrawals Date Account Type Transaction Description 04/19 Cash ASSET TRF - 1,000.00000 WACHOVIA CORP Amount $0.00 04/19 Cash ASSET TRF - 325.00000 PULTE HOMES INC $0.00 04/19 Cash ASSET TRF - 800.00000 SMITH INTL INC $0.00 04/19 Cash ASSET TRF - 1,000.00000 STARBUCKS CORP $0.00 04/19 Cash ASSET TRF - 1,000.00000 STRYKER CORP $0.00 04/19 Cash ASSET TRF - 1,000.00000 TARGET CORP $0.00 04/19 Cash ASSET TRF - 300.00000 TOLL BROTHERS $0.00 04/19 Cash ASSET TRF - 550.00000 UNITEDHEALTH GROUP $0.00 INC 04/19 Cash ASSET TRF - 50,000.00000 BANK OF AMERICA CORP $0 00 GLOBAL NOTES . CPN 5.375% DUE 06/15/14 DTD 06/08/04 FC 12/15/04 CUSIP 060505BM5 04/19 Cash ASSET TRF - 25,000.00000 CREDIT SUISSE FB USA INC $0 00 GLOBALNOTES . CALLABLE CPN 6.500%DUE O1/t 5/12 DTD 01/11/02 FC 07/15/02 CUSIP 22541 LAC7 04/19 Cash DELIVERED - 25,000.00000 FEDL HOME LOAN MTGE CORP $0 00 GLOBAL NOTES . CPN 6.250% DUE 03/05/12 DTD 03!05/02 FC 09/05/02 CALL 03/05/07 @ 100.000 CUSIP 3134A4MF8 04/19 Cash DELIVERED - 50,000.00000 FEDERAL HOME LOAN MTG CO GLOBAL NOTES $0.00 REFERENCE NOTES CPN 3.500% DUE 09/15/07 DTD 09/16/02 FC 03/15/03 CUSIP 3134A4RH9 04/19 Cash DELIVERED - 25,000.00000 FEDERAL HOME LOAN BANK BONDS $0.00 CPN 6.240%DUE 12/11/06 DTD 12/11/96 FC 06/11!97 CUSIP 3133955U5 WSS25FLT 005736 120204050225 NNNNN NNNNN NNNNNYNN 000007 15,50G VILLAGE OF TEQUESTA Page 6 of 12 PUBLIC SAFETY OFFICERS PENSION TRUST FUND Sub /Branch /Rep /Account No. /CAP Account No. 001 / CC / CC12 / 8582-0313 / 9075225708 April 1 -April 30, 2005 Activity Detail continued Deposits and Withdrawals Date Account Type Transaction Description Amount 04/19 Cash DELIVERED - 50,000.00000 FEDL FARM CREDIT BANK $0.00 BONDS 04/19 Cash DELIVERED - 50,000.00000 04/19 Gash DELIVERED - 50,000.00000 04/19 Cash DELIVERED - 25,000.00000 04/19 Cash ASSET TRF - 25,000.00000 04/19 Cash ASSET TRF - 25,000.00000 CALLABLE CPN 5.000% DUE 08/25/10 DTD 08/25/03 FC 02/25/04 CALL 08/25/05 @ 100.000 CUSIP 31331 TBH3 FEDERAL HOME LOAN BANK BONDS CALLABLE CPN 4.100% DUE 03/30/09 DTD 09/30/03 FC 03/30/04 CALL 09/30/05 @ 100.000 CUSIP 3133X15Y9 FEDERAL HOME LOAN BANK BONDS CALLABLE CPN S.D00% DUE 04/15/14 DTD 04/15/04 FC 10/15/04 CALL 04/15/05 @ 100.000 CUSIP 3133X5TM0 FEDERAL HOME LOAN BANK BONDS NON-CALLABLE CPN 5.250% DUE 02/13/09 DTD 02/15/02 FC 08/15/02 CUSIP 3133MLT88 FIRST UNION CORP SUB NOTES NON CALL LIFE CPN 6.000% DUE 10/30/08 DTD 10/22/93 FC 04/30/94 CUSIP 337358AU9 PUBLIC SVC ELEC $ GAS 1ST REF MTG CALL @MAKE WHOLE +10BP CPN 6.250% DUE 01/01/07 DTD 01/01/96 FC 07/01/96 CUSIP 744567DT2 $0.00 $0.00 $0.00 $0.00 $0.00 f~ IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIVIIIIIIIIIIIIIIIIIII~II . ~~ ~' -~ WACHOVIA SECURITIES Activity Detail continued VILLAGE OF TEQUESTA PUBLIC SAFETY OFFICERS PENSION TRUST FUND Sub /Branch /Rep /Account No. /CAP Account No. 001 / CC / CC12 / 8582-0313 / 9075225708 15,501 Page 7 of 12 ACCOUNT STATEMENT April 1 -April 30, 2005 Deposits and Withdrawals Date Account Type Transaction Description Amount 04/19 Cash ASSET TRF - 25,000.00000 CSX TRANSPORTATION INC $0.00 EQUIPMENT TRUST SERIES 93-A CPN 6.480% DUE 03/15/08 DTD 03/17/93 FC 09/15/93 CUSIP 126410EC9 04/19 Cash ASSET TRF - 25,000.00000 VERIZON NEW ENGLAND INC $0.00 SENIOR NOTES CPN 6.500% DUE 09/15/11 DTD 08/21/01 FC 03/15/02 CUSIP 92344RAA0 04120 Cash ASSET TRF - 25,000.00000 BANKERS TRUST NY $0.00 MEDIUM TERM NOTES NON CALL LIFE CPN 6.700%DUE 10/D1/07 DTD 10/07/97 FC 04/01/98 CUSIP 06636QA87 04/20 Cash DELIVERED - 50,000.00000 FEDERAL HOME LOAN BANK $0.00 BONDS CALLABLE CPN 5.250% DUE 10/17/13 DTD 10!17/03 FC 04/17/04 CALL 10/17/05 @ 100.D00 CUSIP 3133X1GS0 04/20 Cash DELIVERED - 50,000.00000 FEDERAL HOME LOAN BANK $0.00 BONDS CALLABLE CPN 5.200% DUE 01/23/14 DTD 01/23/04 FC 07/23/04 CALL 01/23!06 @ 100.000 CUSIP 3133X3F84 04/20 Cash DELIVERED - 50,000.00000 FEDERAL HOME LOAN BANK $0.00 BONDS CALLABLE CPN 5.550% DUE 08/18!14 DTD 08/18!04 FC 02/18/05 CALL 08/18/05 @ 100.000 CUSIP 3133X8366 WSS25FLT 005736 120204050225 NNNNN NNNNN N~NNNVNN 000008 15,508 VILLAGE OF TEQUESTA Page 8 Df 12 PUBLIC SAFETY OFFICERS PENSION TRUST FUND S~~b /Branch /Rep /Account No. /CAP Account No. 001 ! CC / CC12 / 8582-0313 / 9075225708 April 1 -April 30, 2005 Activity Detail continued Deposits and Withdrawals Date Account Type Transaction Description Amount 04/20 Cash DELIVERED - 50,000.00000 FEDERAL HOME LOAN BANK $0.00 BONDS CALLABLE CPN 4.700% DUE 10/04/11 DTD 10/04/04 FC 041D4/05 CALL 04/04/05 @ 100.000 CUSIP 3133X8RQ7 04/20 Cash DELIVERED - 50,000.00000 FEDERAL HOME LN MTG CORP $0 00 MEDIUM TERM NOTES . CALLABLE CPN 5.000% DUE 10/28/14 DTD 10/28/04 FC 04/28lD5 CALL 10/28/05 ~d 100.000 CUSIP 3128X3ZE6 04/20 Cash DELIVERED - 50,000.00000 FEDERAL HOME LOAN BANK $0.00 BONDS CALLABLE CPN 4.9009'o DUE 02/24/12 DTD 02/24/05 FC 08/24/05 CALL 02/24/06 @ 100.000 CUSIP 3133XALC9 04/20 Cash ASSET TRF - 50,000.00000 GENERAL ELEC CAP CORP $0 00 GLOBAL STEP CPN NOTES . SEMIANNLPAY-CALLABLE CPN 4.000% DUE 05/15/15 DTD 05/15/03 FC 11/15/03 CALL 05/15/05 @ 100.000 CUSIP 369626686 04/20 Cash ASSET TRF - 50,000.00000 MERRILL LYNCH & CO $0 00 NOTES . SERIES 8 CPN 5.3009'o DUE 09/30/15 DTD 09/26/03 FC 03/30/04 CUSIP 59018YRZ6 04/27 Cash DEPOSIT FUNDS RECD $8,730.20 Total Deposits and Withdrawals : $28,819.73 Ff~ Illl 111 ll 111 111 ll l ll 1111 111 l ll 11111 l 11111 l ll l 111 111 lil ~~.~ WACHOVIA SECURITIES Activity Detail continued Electronic Banking Activity 15sos VILLAGE OF TEQUESTA Page 9 Df 12 PUBLIC SAFETY OFFICERS PENSION TRUST FUND ACCOUNT STATEMENT Sub /Branch /Rep !Account No. !CAP Account No. 001 / CC ! CC12 /8582-0313 / 9075225708 April 1 -April 30, 2005 Date Account Type Transaction Description 04/21 Cash Amount WIRE TRANSFER RET WIRE SUNTRUST BK 04/21 Cash $274,825,73 WIRE TRANSFER WIRE TO SUNTRUST BANK 0421E3B75DS0000408 -$274,825.73 04/22 Cash WIRE TRANSFER WIRE TO CENTRAL CAROLIN 0422E3875D5COD0719 -$274,800.73 Total Electronic Banking Activity : - $274,800.73 Dividends Date Account Type Transaction Quantity- Description 04/01 Cash Price Amount DIVIDEND FEDEX CORPORATION 040105 600 $42.00 04/01 C h as DIVIDEND PULTE HOMES INC 040105 325 $16.25 04/08 Cash DIVIDEND AUTODESK INC 040805 1,600 $24.00 04/15 Cash DIVIDEND SMITH INTL INC 041505 800 $96.00 04/18 Cash DIVIDEND UNITEDHEALTH GROUP INC $16.50 041805 550 04125 Cash DIVIDEND GENERAL ELECTRIC COMPANY 042505 1,400 $308.00 04/29 Cash DIVIDEND LOWES COMPANIES INC 042905 1,000 $40.00 04/29 Cash DIVIDEND MEDTRONIC INC 042905 900 $75.38 Total Dividends $618.13 WSS25FLT 005736 120204050225 NNNNN NNNNN NNNNNYNN 000009 15,510 VILLAGE OF TEGIUESTA Page 10 of 12 PUBLIC SAFETY OFFICERS PENSION TRUST FUND Sub /Branch /Rep /Account No. /CAP Account No. 001 / CC / CC12 / 8582-0313 / 9075225708 April 1 -April 30, 2005 Activity Detail continued Interest Date Account Type Transaction Quantity Description Price Amount 'i 04/01 Cash INTEREST BANKERS TRUST NY $837.50 MEDIUM TERM NOTES NON CALL LIFE CPN 6.700%DUE 10/01/07 DTD 10/07/97 FC 04/01/98 040105 25,000 CUSIP 06636QA87 04/01 Cash INTEREST PENN PWR & LT $812.50 1ST MTG BD NON CALL LIFE CPN 6.500%DUE 04/01/05 DTD 04/01/93 FC 10/01/93 040105 25,000 CUSIP 709051 BU9 04/04 Cash INTEREST FEDERAL HOME LOAN BANK $1,175.00 BONDS CALLABLE CPN 4.700% DUE 10/04/11 DTD 10/04/04 FC 04/04/05 040405 50,000 CUSIP 3133X8RQ7 04/15 Cash INTEREST FEDERAL HOME LOAN BANK $1,250.00 BONDS CALLABLE CPN 5.000% DUE 04/15/14 DTD 04/15/04 FC 10/15/04 041505 50,000 CUSIP 3133XSTM0 04118 Cash INTEREST FEDERAL HOME LOAN BANK $1,312.50 BONDS CALLABLE CPN 5.250% DUE 10/17/13 DTD 10/17/03 FC 04/17/04 041705 50,000 CUSIP 3133X1GS0 Total Interest : $5,387.50 IIII VIII III IIIIIIIIIIIIIIIIIIVIIIIIIIIII IIiIIII()~II 15,511 - WACHOVIA SECURITIES VILLAGE OF TEGIUESTA Page 11 of 12 PUBLIC SAFETY OFFICERS PENSION ACCOUNT STATEMENT TRUST FUND Sub /Branch /Rep /Account No. /CAP Account No. 001 / CC / CC12 / 8582-0313 / 9075225708 April 1 -April 30, 2005 Activity Detail continued Money Market Income Date Account Type Transaction Quantity Description Price Amount 04/20 Cash DIVIDEND EVERGREEN US GOVERNMENT $219 87 MONEY MARKET FUND CL St 042005 274,705.86000 Total Money Market Income : $219.87 Other Activity Date Account Type Transaction Quantity Description Price Amount 04/05 Cash STOCK DISTRIB 1,000.00000 COACH INC $0.00 04/20 Cash CHARGE TERMINATION FEE -$75.00 04/21 Cash CHARGE WIRE FEE -$25.00 04/22 Cash CHARGE WIRE FEE -$25.00 Total Other Activity : - $125.00 Money Fund/Bank Deposit Sweep Activity This section displays transfers into and out of your money market/bank deposit sweep account . Transactions included here are Transfer To, Transfer From and Reinvested Dividends and Interest These amounts are not included in the Cash Activity Summary. . Date Account Type Transaction Description Amount 04/01 04/04 Cash TRANSFER TO BEGINNING BALANCE EVERGREEN US GOVERNMENT $224,034.08 $26,708.25 04/05 Cash TRANSFER TO MONEY MARKET FUND CL S1 EVERGREEN US GOVERNMENT $1,175.00 04/11 Cash TRANSFER TO MONEY MARKET FUND CL S1 EVERGREEN US GOVERNMENT $24 00 04/13 Cash TRANSFER TO MONEY MARKET FUND CL S1 EVERGREEN US GOVERNMENT . $20,089.53 04/18 Cash TRANSFER TO MONEY MARKET FUND CL S1 EVERGREEN US GOVERNMENT $1,346.00 04/19 Cash TRANSFER TO MONEV MARKET FUND CL S1 EVERGREEN US GOVERNMENT $1 329.00 04/20 Cash TRANSFER FROM MONEY MARKET FUND CL S1 EVERGREEN U5 GOVERNMENT , -$274 705.86 04/30 MONEY MARKET FUND CL S1 , ENDING BALANCE $0.00 WSS25FLT 005736 120204050225 NNNNN NNNNN NNNNNYNN 000010 15,512 VILLAGE OF TEQUESTA Page 12 of 12 PUBLIC SAFETY OFFICERS PENSION TRUST FUND Sub /Branch /Rep /Account No. /CAP Account No. OU1 / CC ! CC12 / 8582-0313 / 9075225708 April 1 -April 30, 2005 Expense Tracking Summary Category This Period This Year Unspecified 0.00 21,419.44 Category This Period This Year Total $0.00 $ 21,419.44 Realized Gain/Loss The following section details security positions you closed this month through such transactions as sales, buys-to-close, redemptions, transfers, corporate actions, etc. If we have the acquisition date, close date, and cost information, the realized gain/loss will be calculated. The realized gains and losses for municipal bond positions purchased at a premium do not reflect the amortization of that premium. Capital gain distributions from mutual funds are not included. Please contact your tax advisor to determine the tax consequences of your securities transactions. Realized Gain/Loss Summary This Period This Period This Period Year to Date Year to Date Year to Date Gain Loss Net Gain Lass Net Short-term $ 0.00 $ 0.0~) $0.00 $ 0.00 -$ 10,322.34 -$10,322.34 Long-term $ 443.75 $ 0.00 $443.75 $ 38,682.67 -$ 12,879.32 $25,803.35 Total Realized Gain/Loss $ 443.75 $ O.OA $443.75 $ 38,682.67 $ 23,201.66 $15,481.01 Long-term Description Quantity Date Acquired Acquisition Cost Close Date Proceeds Gain/Loss PENN PWR & LT 25,000.0000 11/17/99 $24,556.25 04/01/05 $25,000.00 $443.75 1ST MTG BD NON CALL LIFE CPN 6.500 % DUE 04!01/05 DTD 04/01/93 FC 10/01/93 Total Long-term $443.75 Thank you for allowing Wachovia Securities, LLC to serve you. If you have any questions regarding your account or this statement, please contact your Financial Advisor. Ill! lil li 111 111 ll l ll 1111 lil l it 11111 l lllli i ll i 11111 l 111 1] C S~ 7 r m ru m m cn l9 fl] [T X U1 t71 Rl I~ Command Asset Program ~ WACHOVUti gEGLTRITIES Your Finandal Advlsar: FRED P KfNll[Y 33rJ9 PGA BLVD, Slt: 4B0 PALh1 BEMN GARDENS FL 3341U 561 ~2d-519] 1 BBB 246-7664 P! wise oont c1 Your~inancial fbeidwsor for details erested party. Far Banking Inquiries: En Espanol: $I}3 CflIRdM'f7 ;6t10) 328-6977 ~$D9~ 266-6263 Total Value Cornparisan A9.445 ~ p Page 1 of 3 ~°r~ 0 N May 1 -May 31, 2005 a a ?,x83,037 1,937,273 1.291.515 64 6,757 I 1 . , Os,04 07104 Ur,b4 ONUS-ti 1Ma4 t1A4 12!04 O1I05 U2A5 03105 04105 05,05 Asset Allocation (Partfol io Assets) 1__1 Cash and Money Market H ~ainlLoss Summary t cn m m N m N D m m m ~] ~D 511art-germ T r a n x C a m c _~ Vl 0 m w ViILLAGE aF TEQUESTA TRUST FUNDETY OFFICERS PENSION Sub f Branch !Rep ! Atcounl tiro. !CAP Account No. 041 r CC i CC12 i 8382-03131 907225706 Lona•lerm U'L7J " $0.00 Total Urtraali~edGalnfLoss ~ rn LYSS7bFLp 0f,6398152t8572B273 NHr;HH hr; f:f:H f1NHGNHHH 07rA0Q Portfa~lo Summary TotalRealh:edGa[Nloss "" - - Unroathad GainlLoss Ourreni Dlher ASSelSiLtannlUes These pasl4ons rellect purchases made through us or information suppllod to us;they are displayed for inlormatlonal purposes only. !I you no longer own any of these Investments, please tell us sa we can uadate !his section. These assets ara not included In the nit porffollo ualue, and are not D C I N m ft] m ru m 3 ~l D X m m fU ~D RJ D m m e~ Command Asset Program VILLAGE OF TEQUE5TA PUBLIC SAFETY OFFICERS PENSION 'RUST t'UND Sub f Brenrh J Rep ~ Account No. f CAP Account No, OD1 r Ci: l CC12 ~ 6582-0313 9D752257D8 4~,4A9 = A Page 2 of 3 ~°r~ N May 1 -May 31, 2005 T '~ Investment OBjective~Risk Tolerance: GROWI'li + MOQERATE Additional 1 nformation Cash Activity Summary Total Cash and Money Malltet f=unds on Apr 3D: $9,453.58 _ _. r,_~.._ Vw~r to Hale A~allable Funds Gesfi 9,273.58 0.00 Securities Pur ased 3scurities Sold and Redeemed Mane M arkei 0.00 De osiis and UYilhdrawals Avaitable Afar in Withdrawals b Check TatalFundsAvailablo $9,273•$8 Eleclronic8ankin Ao1rvi Swoop Option EVERGREEN LFS GOVERhIMENT MONEY MARISET FUND CL S1 dividends ~ Interest k t I ncome e Money A4ar "Available hfargin" rellectsthe approximate amount available as at the statement peflod ending data i h Short-lotto OlsUibuttons e s t and should be reduced by an pchdtnrq checks and Visa charges not yet cleared. This amount A margin loan Is a variable rate loan d loans l d i_anrt-term Dlstrihutions inci ai f P . an ra~va approximate amount available for w+lh r Retum o secured by your account. ~--toe shin tstrib ons - Interest Charged 01her Ac1'rvity ~u• Total Acilvity $12D. income Summary Total Cash and Money Market Funds on May Tax-Exernptlncorne Year•to-gate: xt).Ofl Other Income Year-to-Bate: x19,998.43 Tex-exempt Income and other income year-to-date totals are taken from the fax repotting system. They may not match back to the activity summary due to reclass~caUnn activity. Money rnetket income can be either taxable or tax exempt and is natreRacted In either of these totals- The YTO Money matkei Income Is displayed in the Casfi Ac1lvltySummary. IMoney market Income from FDIC funds is sttovm in the Interest floe of the Cash Activity Sumtr-ary, not the Money market income line.y The Cash Activity Summary is based on Ute aetivliy that has been shovm on Ibis statement, not what will be reported to you on your corms 1099. TMs statement is rout a tax document, and ahauld be used for iniortnaUonal purposes orgy. ~'-~ 0 c a m ~_ N N rn m N -~ r 0 m T VI Q1 I«I11~~~1 ~I11111~~111~~1~1~~`1 fll~ill~~ C fi ] m rll m m m RI o~ 3 D 7c in o~ Q1 ftl m ~n R1 H D m iv 49,447 ~ ~'~A~H~VIA ~~C~`U~Z~T~~ p VILLAGE aF fEQUESTA Page3oi3 N PUBLIC SAFETY QFFICERS PENSION TRUST FUND "' N Sub ~ Branch ~ Rep !Account No. J CAP Account No. ;~, oat ! cc ! CC92 1 8582-0373! 9x75225708 May 1 -May 37, 2005 a Portfolio Assets This secman indudes estimated or rrnrealixed gainsay bases for yourinfermetion ollty and shaold not be used for lax purposes, II acqulsrtion information is not availatrte, the gainfloss information may nd be displayed and section t h d _ $ e ase a endsummaryrytotals may not reflect yaurcamplece portiofia. Cast basis information previdedbythe account owner is nal verified by First Clearing, LLC and should not ba relied uponfor legal oriax purposes. Bonds purc slematle investments In mutual iundsand reinvested dividends for 5 darm of rinel al l dt a t} ill b tl CI 0. ~ y p p , jus e orp y , e1e,a w e a , A premium ort),I.D, (Origsnallssue f]ist~trttti wit de carried at Ule originatooslbasls, Factored bonds (GNftil roovviided for iniamational purposes only and is 8 tlon-titi~eigMed average. 70 esVnent securities Is id ei t t d di d t ti i p r nv men s an v en ema c nves mutual funds and stockF have been mnsolidaled for each positron. Unit cost dale far sys update your cast information ar provide omfited oosi infarmatan, oonlact Your f=inancial Advisor. Estimated Current Yield on Money Market funds, when avaaable, reflects the current estimated yield for the InferesA Reriod dales e° displayed, Estimated Mnual Income, tisTen available, relleds the estimated amount you would eam on a sewrily if your current posryen and its refaced fncome remained constant for a year. Estimated AnnualYeld, when available, - ' relleets Iha current estimated annl>Ial Income divided by the current value of the security as of the statement closing date. The information used b demre tilese estimates is obtailed from various outside vendors; FCG is not _ respons~le forinoorrect or missing estimated annual iloome and yields. Q1 A Casts and Money Market Funs Est currant DescriQUon CuRent market varuri Est. ern. Income }derd['M} Cash $9,273.58 Total Cash and A7artay Market Funds $4,273.59 Curious haH yrnrr seeuritles are pertorming2 The'Unreallzed GainlLoss' cohlrnn fells you how mush each stock has increased a decreased in value since ybu bough) ii (based on cast dale supplied by you or by outside services, which may not be completey. Revisions to This information (because of oorporale mergers, lendersand other reorganixaGons, iorexample} maybe necessary tram alma to t;me. To update your oast Information or provide omitted oasts, wntact YaurFnanoial Advisor. Activity Detail Dividends °; Date AcoaiM Type Trensactlon Quantity pesartpliorl Pnoe Amount m 05110 Cash Dlvlp>=ND AMER1cAN EXPRESS COMPANY $120.00 ~. 051005 1,e00 Total Dividends : X120.00 Expense Tracking Surnmafiy Category llrls Period This Year Celegnry Thls Period Thls Year m Unspeclfled 0.1]t] 21,419.44 Total $0.6g $ 21,459_44 0 0 0 Thank you for allowing Wachovia Securities, LLC to serve you. If ynu have any questions regarding your aooount or this statement, please contact your Flnandal Advisor. WSS73FL0 41U39d 1521E672tl2fi 6hkkN NNriflri r;l,'t!6'kkAk 0090Q3 D C ru m m m ru ~T D x (P N -J Q1 u7 R1 "~ WACHO~IA SECURITIES Your Flnanclal AdYisor: Your Managed grogram; Ff~D P 1[EtiNEY NETWORK 3399 PGA BLVD, STE 440 Your Managger PALA1 Et:kCH C0.A9E]IS FL 33410 NDRT}iS~TAR7iSSEi hiAA'AGENCNi 5616245199f 868.245-7564 flOi~ESTfC EOUfTYALL CAP GORE Captes of ihls slaiement have been sent to an Interested party Piease wniacl Your Flnanual AdtM1sor iar detalts. ForBanking Inquiries: En Espanol; (800 COMlN~Np lBOt}) 326-6977 ((800 'Lfi6-5'163 Command Asset Program Ansel Allocation tQorliglia Assets) H Through us or Information supplied to us: they are displayed o longer atvn any of these Inyeslments, please tell us so we ~ ere not included In the net portfolio value. and are not GainlLoss Summary rl Cash and Money tdarket t cn m rn N Ql m nl D m m m tD Total Valu a Co mparlson 34,159 ~ s; Pace 1 ai 3 N N June 1 -June 30, 2045 a 7,5r3,e31 4,937,279 t,7pl,5t6 E45d67 i i ~ a i , 07lpq a8,pq pgbq 1QN4 t1p4 72io4 8 7105 07106 n3,C15 a1A5 OS,O5 Oria5 T i n x 0 C D n ~_ N m i2eaifaed GalnlLoss ~ 0.00 - 10 322.34 sl4ort-term 4.0p 25 Sfl3.35 ~ o~1e~ $0.4D $'15,487.09 0 Total Realised GainlLoss ~" shoH~- ~a oo Lo -term SD.40 Total Unr'ealixed GaInlLose Y15S73FLD p6g55D1E2175653273 6n7i~iN NNhHe1 NNNNNNHq 000062 VILLAGE aF TEgUESTA PUBLIC SAIrETY OFFICERS PENSION TRUST FUND Sub /Branch 1 Rep f /ucauM No. ~ CAP Aeoa~ M No. 007 ! CC ~ CC92 ! 8582.0313 f 9075225746 Portfolio Summary D C ~i7 i I ru m m t9 ru m 3 '1 D X t N Q1 N m u] N Command Asset Program ~'''6D VILLAGE OF TEQUESTA Psge 2 of 3 PUBLtC SAFETY OFFICERS PENSION TRUST FUND S+I~ ~ Brands r Rep f AocauM No. l GAP ADCOUnI Na. June '~ -June 30, 2{106 001 ! CC 1 CC12 ~ 8582.0313f 90752257118 In+restmentObJecia~efRisk7elerance: GROWTH+NIO~ERATE Additional information Cash Activity Summary Total Cash and Mone Market Funds on Ma 31: 9 273.58 - -.. .,_..._ veg. ~~ nary A~aElable Funds Cash 9, 273.58 Mone Aferkel O.no Avaifahle hfar in 0.00 Total Funds Available $9,273'58 S~nreep Option MpIfEY ANARKET~FUMONCL 5 r "Available Margin• reflects the approximate amount available as of the statement period ending date H and should be reduced by any penning checksand Visa chargges not yet cleared. This amount Is the p approximate amount available for withdrawal and loans. A margin loan is a varleble rata loan • • secured by your account. Income Summary D ~i1 m m m m ,N W lax-Exempt Income Year-ia-Date: 1a0.Da Other income Year-to-Dais: 579,918.43 Tax-exempt Income and r,lher inmms year-to-date totals are taken from the tax reporting system. They may not match back to the activity summary due to reclassification activity. Money market income can be either taxable a tax exempt and is not reflected in either of these totals. The YTD Money market I~oorne Is displayed In the Cash AGivltySummary. {Money market income cram FDIC funds is shown in Iha interest line of the Cash Acllvliy Summary, not the Money market income Ilse.} Tile Cash Activity Summary Is based on the activity {hat has been shown on this statement, not what will be reported to yeu an your forms 1Vt339. This statement is not a tax document, and should be used for informational purposes oMy. Maney Market Income Int C ed Tata1 Activity .pV.l Total Cash and Money Marlsot Funds on Juno a 0 N T >C n 0 c v m ^V ~~ QS m N -~ W v 0 0 T Q] llllll~ll~ Il~lllll~lll 111~111~111i ~I~l~~i C m ru m v, fl] 0~ 3 D x m fU 01 U] fl1 H Q ~ ~NACI-~OViA SECURITIES Vl1_~AGE OF TEQUESTA PUBEIC SAFETY OFFICERS PENSION TRUST FUND Soh ! Eranrh 1 Rep ~ Account No. !CAP Account No, OQ7 ! CC I CC12 1 85617313/ 9075225708 3{,161 a c q Page 3 of 3 N N June 1 -dune 30, 2065 a Partfafio Asses This section includes estimated or unrealized gains or losses for yourirrfarmatfon orly and should not he used Tor tax purposes. 11 acqulstlion information Is not available, the gea-Aoss 1nlorrrtation may not be displayed and sactpn and summary locals mar not re11ec1 yauroonrplete porlidb, Cost basis information provided bythe account a~mer is not ueriFied by First Clearing, LLC and should nolbe railed upon iorlegal or lax purposes. Bonds purchased at a prerniurn or 4.1.0. (Ong~nal Issue Discount) will be carAed at the original cost basis. Factored bonds (6Nt,M, CMQ etc.) wdl be adjusted for paydonm of princlpal_ Systematic investrrtents in mutual funds and relnvesied dividends for rnulual funds and stocks have been cnnsdidaled for each position. UI}Il cost data far syslemelk lnvestmsnts and divrdend reinvestment securd-as is provided for lniormailonal purposes only and is anon-weighted average. So update your oust information ar provide omitted cast intormalien, contact Your Finalscial Aidvisa. Estimated CurrenlYteYJ on Money Market funds, when available, reflects the surrenlastirnaied yield for the lalerest Period dales displayed. Estlrnated Annual Income, when svarlablo, reflaclsthe estimated arnountyau would cam on a security if your currentposdion and its related income remained constant far a year, Estimated Annual Yield, when available, reflects the current estimated annual Income divided by the current vaGre o1 the sacurrty as of the slatr.menl dosing date. Tile information used to derive These estlntales Is obtained from +rarious aAslde vendara; FOC is not responsible for Inoorredor missing estimated annualincome and yields. Cash and Money Market Funds desr~lpllnn Current market value Cash $9,273.58 Total Gash and Money Market Funds Est wrrc M Est. ann. Income yield{96J 39,273.SA [?rntous how your searilies are performing? The'Umeal'v_ed Ga iM.os$"column tells you how much each slack has inrteased or decreased in value since yet bougMlt (based an cost data supplied by you or by outside services, u'hieh may not he completey. Eievrslons to this lntormation tberxuse o1 corporals mergers, tenders end other roorgarirtations, for example) may be necessary from Ume to time. To update your cast Iniermalion or provide omitted costs, contact Your Financial Advisor. Expense Tracking Summary Category UnspeciAed This Pe,loi Thls Year D.U9 21,419.44 Category Tfils Period Thls Year ?oral 30.00 S 21.419.44 , a n x 0 C a. m N c+n rn w m --~ m D m m m /~ ~p thank you far allowing Warhovla Seouritles, LLC to serYe you. If you have any questions regarding your account or this statement, please contact your Financial vrsar. v 0 e T W5573FU7 0545601[42175Lu3273 rlnkHNNNhrrNNNNHkrrHN oaaloti