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Source to provide more detailed information. There have been no changes to the State Investment Policy and that is where we find basis for our City Policy. There are no changes to the policy and we are also not asking for any changes to the policy. There is a schedule for quarterly meetings and they are open to your attendance. Rahman will report the stale dated checks policy as well as the interest reports. Our cash trends and reserve policy reports are also included in this report. However, since we distribute those on a monthly basis, we didn't plan to go into any detail on those reports. If anybody has any questions, we will be happy to answer them. Because of the timing of the meeting and the timing of the year-end's close, there are reports in front of you for the Controller's Report, the Trends Report and the Cash Reserves Report. They are all preliminary at this time. We don't foresee them changing but if there are any adjustments, we will send out revised copies. Paul Gifford, Chief Investment Officer of 1St Source Corporation with offices located at 100 N. Michigan Street, stated, Thank you for the opportunity to meet with you today. If you all could turn to page six (6) of the report, you will see the presentation. For the last five (5) or six (6) years, 1St Source has had the opportunity to work with the City and manage your excess cash in your portfolio. The original investment was $175 million. Today that is invested between money market,treasuries, agencies, CDs and Municipal Bonds which are all State-approved investments. You will see on page seven(7) a mix of those three (3) assets. On page eight(8) is actually a listing of all the holdings. As I've mentioned in the past, anything that is $250,000 or less in CDs is FDIC insured. As I'm sure you are aware, the State of Indiana has a Public Deposit Insurance Fund so any investment over$250,000 is on that list for approved depository institution fund. As money matures, we are buying and selling the securities for you and collecting the income. Then, the City gets paid the net-income every month out. On page nine (9) the CDs continue and on page ten(10) we are getting to the Government Agency Bonds. For the last year, I can say the CDs have been a more attractive investment vehicle given the investment policy and we are starting to see that change right now. I would expect in the next ye the amount in the Government Agency bucket would tend to increase. The next thing about what is going to happen in the portfolio is that you will see on page thirteen(13), there are a fair amount of maturities in the portfolio over the next several quarters. Most of those bonds, when they mature, we will be able to reinvest at approximately a one percent(1%)higher interest rate. So next year when we come, hopefully you will all see a nice jump in earnings again. And hopefully the next several years as the Federal Reserve has been raising rates. Right now it looks like you will see a one percent (1%) increase on somewhere around $85 million which would be really nice for the budget. Mr. Gifford continued, If you flip to page fourteen (14), in the last year,the portfolio was up about eight tenths of a percent(0.8%). That is ahead of the benchmarks we have agreed to with the City. This means the portfolio generated about an extra$350,000 of earnings. As Jen has said there really are no changes to the investment policy so we should be good to go with this year's investments. Secretary Dr. Varner asked, What was the overall rate of return? Mr. Gifford replied, It was point eight two percent(.82%). 2