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LOCAL AGENCY INVESTMENT FUND <br />SUMMARYOFACTIVITY <br />MAY 2000 <br />BEGINNING BALANCE DEPOSITS W IDRAWALS MONTH END BALANCE <br />513,274,591,390.72 $1,420,916,500.00 $1,619,816,188.67 $13,075,691,702.05 <br />POOLED MONEY INVESTMENT ACCOUNT <br />SUMMARY OF INVESTMENT DATA <br />A COMPARISON OF MAY 2OW WITH MAY 1999 <br />(Dollies In Tho ammWo) <br />May 2000 May 1999 Change <br />Average Daily Portfolio $41,986,849 $37,543,123 +$4,483,726 <br />Effective Yield 6.190 5.086 +1.104 <br />Average Life -Month End (m days) 187 199 -12 <br />ACTING LAIF ADMINISTRATOR <br />In March we reported in the LAIF News that Pat Beal would be retiring on April 30". We would <br />like to take this opportunity to introduce Daniel Dowell as the Acting Administrator for the <br />Local Agency Investment Fund. Dan has been with the Treasurer's Office for more than twenty- <br />six years. As the Assistant Director of Investments, Dan has had direct oversight of daily portfolio <br />trading, as well as indirect oversight for the LAIF since its inception. <br />SUPPORT FOR CALIFORNIA COMMUNITY BANKS <br />Time Deposits in California community banks have increased by over $1.5 billion since <br />January, 1999. More than 50% of the participating financial institutions are banks with less than <br />$250 million in total assets. Such deposits promote personal and commercial lending by financial <br />institutions within the communities they serve. <br />