Franklin County Investment Advisory Meeting

1
Franklin County Investment Advisory Meeting

• Thursday June 29, 2006

2
Agenda June 29, 2006 930 AM

• Call to order.
• Approve or amend minutes from prior meeting.
• Sign approved minutes.
• Old Business.
• New Business.
• Set Date Time for next meeting (Thursday
  September 14, 2006 _at_ 300 PM proposed)
  
• Adjourn Meeting.

3
Call to Order

• Greeting from Treasurer Cordray
• Approve or Amend Minutes from March
• No changes noted, prior to meeting.
• Could we get a motion and a second?
• Sign approved minutes.
• Pass the signature copy to all attendees.

4
Old Business.

• Any members or attendees having old business to
  discuss?

5
New Business

• Economic Outlook.
• Current State of Portfolio Earnings.

6
New Business Broker Dealer List Revisions

• Deletions
• Mantor-Watson
• Additions

7
New Business Economic outlook.

• FOMC discount rate is at 5.00.
• The current consensus among economists is to
  expect the rate to rise to 5.25 at todays
  meeting to keep inflation from accelerating.
  Market consensus now suggests an 80 probability
  of another increase in August to 5.50, but we
  doubt that will happen.
• The commentary from the last meeting indicated
  that the Fed would like to pause at some point to
  evaluate the incoming data on the economy.

8
New Business Review of Portfolio Asset Allocation
9
New Business Portfolio Strategy.
Strategically we continue to overweight the
front-end as a defensive measure against higher
rates. This is to position the portfolio based
on two major expectations Rising rates across t
he curve. Flattening of the yield curve.
10
New Business Current State of Portfolio Earnings.

• Income in May
• 2,555,204.80
• Income YTD 05/31/2006
• 10,385,963.36

11
New Business Application for Deposit of Public
Funds

• Agreements accepted for the period
• beginning July 1, 2006 ending
• June 30, 2010.

12
Public Depositories

• Advantage Bank
• Arlington Bank
• Champaign National Bank
• Chase Bank
• Charter One Bank
• Fifth Third Bank
• First Bremen Bank
• First Merit

• Guernsey Bank
• Heartland Bank
• Huntington National Bank
• Key Bank
• National City Bank
• Park National Bank
• Sky Bank
• US Bank
• WesBanco Bank

13
New Business Income Projections.

• Our investment income projection for 2006 has
  been revised to 23,060,57.66 from
  20,067,000.00
  

14
Set Date Time for next meeting

• Proposal is for
• September 14, 2006 _at_ 300 PM
• And tentative date for the following meeting
• December 14, 2006 _at_ 300 PM
• Can we get a motion, and a second?

15
Adjourn Meeting.

• Unless anyone has any further business to
  discuss?
  
• Thank You!