HomeMy WebLinkAbout2008-09-09 - Finance-Accounting Committee Meeting Agenda Packet•
Yorba Linda
Water District
YORBA LINDA WATER DISTRICT
FINANCE - ACCOUNTING COMMITTEE MEETING
Tuesday, September 9, 2008, 4:00 p.m.
1717 E. Miraloma Avenue, Placentia - Tel: (714) 701- 3020
•
ITEMS DISTRIBUTED TO THE BOARD COMMITTEE LESS THAN 72 HOURS PRIOR
TO MEETING
Pursuant to Government Code section 54957.5, non-exempt public records that relate to open session agenda items and
are distributed to a majority of the Board less than seventy-two (72) hours prior to the meeting will be available for public
inspection in the lobby of the District's business office located at 1717 E. Miraloma Avenue, Placentia, CA 92870, during
regular business hours. When practical, these public records will also be made available on the District's internet
website accessible at hftD://www.vlwdOvlwd.com.
AGENDA
COMMITTEE:
Director Michael J. Beverage, Chair
Director John W. Summerfield
Alternate: Director William R. Mills
STAFF:
Michael A. Payne, General Manager
Ken Vecchiarelli, Asst. Gen Mgr.
Diane Cyganik, Finance Director
Sandi Van Etten, Senior Accountant
INTRODUCTION OF VISITORS AND PUBLIC COMMENTS:
Any individual wishing to address the Committee is requested to identify themselves and state the matter on which
they wish to comment. If the matter is on this agenda, the Committee Chair will recognize the individual for their
comment when the item is considered. No action will be taken on matters not listed on this agenda. Comments are
limited to matters of public interest and matters within the jurisdiction of the Water District. Comments are limited to
five minutes.
ACTION ITEMS:
This portion of the agenda is for items where staff presentations and committee discussions are needed
prior to formal committee actions.
None
0
STANDING ITEMS:
• 2. Investment Reports for the months ending June 30 and July 31, 2008, respectively.
3. Monthly Status Reports on Investments for the months ending July 31 and August
31, 2008, respectively. Report by Keith Khorey of Wells Capital Management.
DISCUSSION ITEMS:
4. Pass-through Water Rate Increases for the Following Entities: MWDSC, MWDOC,
OCWD and Edison (SCE).
5. Cash Flow for Fiscal Year 2008/2009
ADJOURNMENT:
The next Finance-Accounting Committee meeting is scheduled for October 14, 2008 at
4:00 p.m.
Accommodations for the Disabled.
Any person may make a request for a disability-related modification or accommodation needed for that person to be
able to participate in the public meeting by telephoning Michael A. Payne, District Secretary, at 714-701-3020, or
writing to Yorba Linda Water District, P.O. Box 309, Yorba Linda, CA 92885-0309. Requests must specify the
nature of the disability and the type of accommodation requested. A telephone number or other contact information
should be included so the District staff may discuss appropriate arrangements. Persons requesting a disability-
related accommodation should make the request with adequate time before the meeting for the District to provide
the requested accommodation.
•
-2-
ITEM NO.
AGENDA REPORT
Committee Meeting Date: September 9, 2008
To: Finance-Accounting Committee
From: Michael A. Payne, General Manager
Staff Contact: Diane Cyganik, Finance Director
Sandi Van Etten, Senior Accountant
Reviewed by General Counsel: N/A Budgeted:
Funding Source:
CEQA Account No:
Compliance: N/A Estimated Costs:
Subject: Investment Report for June 2008
N/A Total Budget: N/A
N/A
Job No:
N/A Dept: Bus
SUMMARY:
Government Code Section 53607, et, seq., requires the person delegated to invest funds to
make a quarterly report of the investments to the legislative body.
DISCUSSION:
I am submitting the June 2008 monthly investment report for your information. I will submit a
formal report of the investments for Board action for the quarter ending June 30, 2008 upon
approval of the Investment Report.
Below is a chart summarizing the yields as well as terms and maturities for the month of June
2008:
Avg.
Avg. Portfolio
Portfolio
# of
Avg. Term
Month Yield Without
Yield With
Days to
of
Portfolio in
of 2008 Wells Capital
Wells Capital
Maturity
Days
June 1.85%
2.10%
32
9
Below is a chart comparing operating fund interest for current and prior fiscal years:
Actual Interest
Monthly, Operating Fund
Year-to-Date, Operating Fund
06/30/07 06/30/08
$ 17,514 $ 614
$201,379 $28,823
Budget 2006/2007 2007/2008
Interest Budget, Operating Fund, June YTD $333,470 $86,000
Interest Budget, Operating Fund, annual $333,470 $86,000
Interest earned on investments is recorded in the Fund that owns the investment.
Investment Summary Comparison
The distribution of investments in the portfolio both in dollars and as a percentage of the total
portfolio by funds is as follows:
Fund Description
06/30/08
Annexation Fund
9,647,214
16.95%
Water Fund
(2,549,421)
(4.48%)
Water R&R Operating Reserve
2,007,091
3.53%
Restricted for 2008 Debt Service
830,278
1.46%
2003 Bond Fund
6
0.00%
2008 Bond Fund
32,087,605
56.39%
Sewer Fund
1,136,609
2.00%
Sewer R&R Operating Reserve
168,293
0.30%
Imp. Dist. No. 1
4,133,807
7.26%
Imp. Dist. No. 2
9,443,161
16.59%
$56.904.643
100.00%
PRIOR RELEVANT BOARD ACTION(S):
These reports are presented to the Finance-Accounting Committee on a regular basis. Quarterly
Investment Reports are presented to the Board of Directors.
STAFF RECOMMENDATION:
That the Finance-Accounting Committee receive and file the report.
0
0 Market
Value Cost
Cash & Checking Accounts:
$ 741,062 $ 741,062
1,200 1,200
$ 742,262 $ 742,262
Money Market Accounts:
Yorba Linda Water District
Investment Portfolio Report
June 30, 2008
of Total Institution
Wells Fargo Bank
Imprest Cash
1.30% Total
Percent Investment Maturity
Yield Date Date
0.00%
$ 553,953 $
553,953
Wells Fargo Money Market
0.60%
150,130
150,130
Wells Fargo MM/Annexation
0.60%
$ 704,083 $
704,083
1.24% Total
0.60%
$ 1,446,345 $
1,446,345
2.54% Sub-total
0.29%
California Asset Mgmt. Program:
$ 6,583,504 $ 6,583,504 11.57% California Asset Mgmt. Program 2.51%
Money Market Account:
$32,087,605 $ 32,087,605 US Bank 2008 Revenue Bond 1.78%
6 6 US Bank 2003 Revenue Bond 0.00%
$ 32,087,611 $ 32,087,611 56.40% 1.78%
$ 40,117,460 $ 40,117,460 70.51% Sub Total Investments 1.85%
Individual Management Account:
$ 16,756,854 $ 16,779,313 29.49% Wells Capital Management 2.72%
$ 56,874,314 $ 56,896,773 100% Total Investments 2.10%
N/A
N/A
N/A
N/A
N/A
Per Government Code requirements, the Investment Report is in compliance with the Yorba Linda Water District's
Investment Policy, and there are adequate funds available to meet budgeted and actual expenditures for the next
six months.
Sandi Van Etten, Senior Accountant
6/30/2008
0
• ITEM NO. ~2-
AGENDA REPORT
0 Committee Meeting Date: September 9, 2008
To: Finance-Accounting Committee
From: Michael A. Payne, General Manager
Staff Contact: Diane Cyganik, Finance Director
Sandi Van Etten, Senior Accountant
Reviewed by General Counsel: N/A Budgeted: N/A Total Budget: N/A
Funding Source: N/A
CEQA Account No: Job No:
Compliance: N/A Estimated Costs: N/A Dept: Bus
Subject: Investment Report for July 2008
SUMMARY:
Government Code Section 53607, et, seq., requires the person delegated to invest funds to
make a quarterly report of the investments to the legislative body.
DISCUSSION:
I am submitting the July 2008 monthly investment report for your information. I will submit a
formal report of the investments for Board action for the quarter ending September 30, 2008
upon approval of the Investment Report.
Below is a chart summarizing the yields as well as terms and maturities for the month of July
2008:
Avg.
Avg. Portfolio
Portfolio
# of
Avg. Term
Month Yield Without
Yield With
Days to
of
Portfolio in
of 2008 Wells Capital
Wells Capital
Maturity
Days
July 1.83%
2.04%
47
14
Below is a chart comparing operating fund interest for current and prior fiscal years:
Actual Interest
Monthly, Operating Fund
Year-to-Date, Operating Fund
07/31/07 07/31/08
$ 5,495 $ 564
$ 5,495 $ 564
Budget 2007/2008 2008/2009
Interest Budget, Operating Fund, July YTD $ 7,167 $ 5,375
Interest Budget, Operating Fund, annual $86,000 $64,500
Interest earned on investments is recorded in the Fund that owns the investment.
Investment Summary Comparison
• The distribution of investments in the portfolio both in dollars and as a percentage of the total
portfolio by funds is as follows:
Fund Description
07/31/08
Annexation Fund
9,577,235
17.75%
Water Fund
(3,965,067)
(7.35%)
Water R&R Operating Reserve
2,013,368
3.73%
Restricted for 2008 Debt Service
1,041,912
1.93%
2003 Bond Fund
6
0.00%
2008 Bond Fund
30,297,669
56.16%
Sewer Fund
1,135,524
2.10%
Sewer R&R Operating Reserve
183,731
0.34%
Imp. Dist. No. 1
4,180,033
7.75%
Imp. Dist. No. 2
9,487,663
17.59%
53,952.074
100.00°/0
PRIOR RELEVANT BOARD ACTION(S):
These reports are presented to the Finance-Accounting Committee on a regular basis. Quarterly
Investment Reports are presented to the Board of Directors.
STAFF RECOMMENDATION:
That the Finance-Accounting Committee receive and file the report.
0
Market
Value Cost
Cash & Checking Accounts:
$ 161,610 $ 161,610
1,200 1,200
$ 162,810 $ 162,810
Money Market Accounts:
Yorba Linda Water District
Investment Portfolio Report
July 31, 2008
of Total Institution
Wells Fargo Bank
Imprest Cash
0.30% Total
$ 3,957 $
3,957
50,452
50,452
$ 54,409 $
54,409 0.10%
$ 217,219 $
217,219 0.40%
California Asset Mgmt. Program:
$ 6,597,500 $ 6,597,500 12.23%
Money Market Account:
$ 30,297,669 $ 30,297,669
6 6
$ 30,297,675 $ 30,297,675 56.19%
$ 37,112,394 $ 37,112,394 68.82%
Percent Investment Maturity
Yield Date Date
0.00%
Wells Fargo Money Market 0.60%
Wells Fargo MM/Annexation 0.60%
Total 0.60%
Sub-total 0.15%
California Asset Mgmt. Program 2.51%
US Bank 2008 Revenue Bond 1.69%
US Bank 2003 Revenue Bond 0.00%
1.69%
Sub Total Investments 1.83%
Individual Management Account:
$ 16,813,778 $ 16,817,065 31.18% Wells Capital Management 2.52%
$ 53,926,172 $ 53,929,459 100% Total Investments 2.04%
N/A
N/A
N/A
N/A
N/A
Per Government Code requirements, the Investment Report is in compliance with the Yorba Linda Water District's
Investment Policy, and there are adequate funds available to meet budgeted and actual expenditures for the next
six months.
A d~ U 64&111t,
Sandi Van Etten, Senior Accountant
7/31/2008
•
ITEM NO. _3
~ 9 Account Overview
Yorba Linda Water District
Account #18611500
Funding Date: 10/25/2005
Portfolio Statistics as of: 7/31/2008
Account Characteristics:
Portfolio Yield to Maturity 2.52%
Total Unrealized Gains/(Losses) - Current: (3,286)
Total Net Realized Gains/(Losses) - Since Inception: 496
Total Long-Term Investments: -
Total Short Duration Investments/Money Market Secs: 16,813,778
Total Market Value: 16,813,778
Total Number of Issues in the Portfolio: 16
MARKET DATA
Overnight Fed Funds Rate: 2.00%
6-Month T-Bill Yield: 1.87%
12-Month T-Note Yield: 2.26%
WELLS CAPITAL MANAGEMENT
Portfo mmary Report
Yorba ater District
For the period : 07/01/08 to 07/31/08 18611500
Portfolio Characteristics
23.7%
Aaa /AAA
Portfolio Breakdown
Market Value:
16,813,778.47
A/A
11.0%
Unrealized G /L:
(3,286.31)
Other
Agency Discount Note
Cash/Overnights
47.3%
Not Rated
Commercial Paper
Yield To Maturity:
2.52%
Floating Rate
Portfolio Duration:
0.10 Years
Gov Agncy Obligation
Money Market Fund
Avg. Days to Maturity:
40
Pending_Cash
Avg. Portfolio Credit Quality:
Aa2
Total
Market Data
07/31108
06/30/08
Yields.
6 Month Treasury Bill:
1.86%
2.15%
2 Year Treasury Note:
2.51%
2.62%
5 Year Treasury Note:
3.24%
3.33%
Fed Funds Target:
2.00%
2.00%
Credit Quality*
P1 /MIG1NMIG1 /A -1
23.7%
Aaa /AAA
11.7%
Aa/AA
6.2%
A/A
11.0%
Baa/BBB
0.0%
Other
0.0%
Cash/Overnights
47.3%
Not Rated
0.0%
100.0%
Effective Maturity Distribution
0.50
0.40
0.30
0.20
0.10
Moody's Ratings - Primary
S &P Ratings - Secondary
Fitch Ratings - Tertiary 0.00
o/n 2 to 90 91 to 180
The above information is an estimate of certain investment calculations and does not represent your audited statement of record.
Market Value
% of Account
997,900.00
5.94%
3,987,877.50
23.72%
2,896,064.00
17.22%
977,200.00
5.81%
7,954,736.92
47.31%
16, 813, 778.47 100.00%
181 to 1 year 1 to 2 years > 2 years
YORBA LINDA WATER DISTRICT
Statement of Cash Flows/Earnings for July 2008
I - Beginning Period Balances '
As of 6/30/2008
Total Original Cost
16,771,652
+ Net Amort/Accr to Date
7,661
=Adjusted Book Value:
16,779,313
+ Accrued Interest Receivable
30,329
+ Unrealized Gain/(Loss)
(22,459)
= Total Market Value Plus Accrued Interest
16,787,183
II: Period Income Earned
+ Ending Accrual
25,902
- Begininning Accrual
(30,329)
+ Interest Received
30,006
- Interest Paid at Purchase
-
+ Interest Received at Sale
-
= Interest Earned in Period
25,5781
+ (Amort)/Accr This Period
10,540
= Monthly Portfolio Income I $
36,1181
+ Contributions
-
-Withdrawals
+ Realized Gain/(Loss)
=
- Fees Paid This Period
(2,794)
- Prior Period Unrealized Gain/Loss
(22,459)
+ End Of Period Unrealized Gain/Loss
(3,286)
+ Net Receipts/Deliveries in Kind
0.00
+ Adjustments
0.00
= Net Change to the Portfolio
26,9191
=Total Market Value Plus Accrued
Interest
16,839,680
III: End of Period Balances
As of 7/31/2008
Total Original Cost
16,807,089
+ Net Amort/Accr to Date
9,975
= Adjusted Book Value
16,817,065
+ Accrued Interest Receivable
25,902
+ Unrealized Gain/(Loss)
(3,286)
= Total Market Value Plus Accrued
Interest
16,839,680
.
Reconciliation Difference:
-
Wells Capital Management
Holdino port
(0) PENDING CASH
Yorba Linter
District
Securities Held as of 7/31/08 on a Trade Date Basis
18611500
Identifier Credit Ratings Par Value Security Description
Coupon Final Effective
Days Duration Market Price Market Market Value Holdings as
YTM at
Maturity Maturity
to Eff Value + Accrued Percentage of
Purchase
0
Maturity Interest Account
or Reset
Moody's S &P Fitch
I. Cash & Cash Equivalents (Original maturity of 90 days or less)
Cash
U.S. DOLLARS
(0) PENDING CASH
(0)
(0)
0.00%
0.00%
(0)
0
0.00
0
0
0.00%
0.00%
Money Mkt Securities
Agency Discount Note
313396E41 AGY AGY AGY
1,000,000 FHLMC
0.000
09/02/08
09/02/08
33
0.09
99790
997,900
997,900
5.94%
2.25%
Commercial Paper
1247P2H49 P -1 A -1+ NR
500,000 CAFCO LLC
0.000
08/04/08
08/04/08
4
0.01
99.979
499,894
499,894
2.97%
2.59%
17312MJ41 P -1 A -1 NR
500,000 CITIBANK OMNI MASTER TR
0.000
09/04/08
09/04/08
35
0.09
99.745
498,725
498,725
2.97%
2.90%
2363F6K74 P -1 A -1+ NR
500,000 DANSKE CORPORATION
0.000
10/07/08
10/07/08
68
0.18
99.514
497,571
497,571
2.96%
2.70%
29372BJK1 P -1 A -1+ NR
500,000 ENTERPRISE FUNDING LLC
0.000
09/19/08
09/19/08
50
0.14
99.627
498,135
498,135
2.96%
2.89%
36959HH42 P -1 A -1+ NR
500,000 GENERAL ELEC CAP CORP CPDI
0.000
08/04/08
08/04/08
4
0.01
99.983
499,913
499,913
2.97%
2.44%
4611 KOJS7 P -1 A -1+ NR
500,000 INTESA FUNDING LLC
0.000
09/26/08
09/26/08
57
0.15
99.606
498,032
498,032
2.96%
2.73%
7588ROKF3 P -1 A -1 NR
500,000 REGENCY MARKETS # 1 CPDN
0.000
10/15/08
10/15/08
76
0.21
99.406
497,031
497,031
2.96%
2.96%
98721LJ89 P -1 A -1+ NR
500,000 YORKTOWN CAPITAL LLC CPDN
0.000
09/08/08
09/08/08
39
0.11
99.715
498,575
498,575
2.97%
2.65%
Money Market Fund
VP7000038 NR NR NR
7,954,737 WF ADV MONEY MKT TR #645
2.308
08/01/08
1
0.00
100.000
7,954,737
7,971,738
4731%
2.31%
Cash & Cash Equivalents Total
12,954,737
16
0.04
12,940,514
12,957,516
76.96%
2.43%
II. Marketable Securities (Original maturity greater than 90 days)
IIA: Short Tenn Securities (Remaining maturity of less than 365 days)
Corporate Securities
Corporate Obligation
Floating Rate
40429CCU4 Aa3 AA- AA-
400,000 HSBC FINANCE CORPORATION
2.906
09/15/08
09/15/08
46
0.13
99.965
399,860
401,345
2,38%
2.91%
59018YVZ1 A2 A A+
700,000 MERRILL LYNCH & CO
2.748
08/22/08
06/22/08
22
0.02
99.925
699,474
703,267
4.16%
2.75%
617446A82 Aa3 A+ AA-
650,000 MORGAN STANLEY
2.498
11121/08
11/21/08
113
0.06
99.655
647,756
648,252
3.85%
2.50%
7591EPAB6 A2 A A+
450,000 REGIONS FINANCIAL CORPORA-
2.838
08/08/08
08/08/08
8
0.02
99.961
449,822
452,837
2.68%
2.84%
929903AQ5 Al A+ A+
700,000 WACHOVIA CORP
2.846
10/28/08
10/28/08
89
0.24
99.879
699,153
699,264
4.16%
2.85%
2,900,000
60
0.10
2,896,064
2,904,964
17.22%
2.75%
Govt Securities
Gov Agncy Obligation
313589GE7 AGY AGY AGY
1,000,000 FNMA
0.000
05/29/09
05/29/09
302
0.82
97.720
977,200
977,200
5.81%
2.91%
Short Tenn Securities Total
3,900,000
79
0.10
3,873,264
3,882,164
21.35
2.83
119: Long Term Securities (Remaining maturity greater than 365 days)
Corporate Securities
Long Tenn Securities Total
0
0
0.00
0
0
0.00!
0.00%
The above information is an estimate of certain investment calculations and does not represent your audited statement of record. Page: 1 of 2
Holding port
Securities Held as of. 7/31/08 on a Trade Date Basis
Identifier Credit Ratings Par Value Security Description Coupon
Moody's S &P Fitch
Marketable Securities Total 3,900,000
16,854,737
•
Final Effective Days
Maturity Maturity to Eff
Maturity
121
40
The above information is an estimate of certain investment calculations and does not represent your audited statement of record. Page 2 of 2
Yorba
Lin 4ter
District
18611500
Duration Market Price Market
Market Value
Holdings as
YTM at
Value
+ Accrued
Percentage of
Purchase
Interest
Account
or Reset
0.28 2,896,064
2,904,964
21.35%
2.83%
0.10 15,836,578
15,862,480
100.00%
2.52
The above information is an estimate of certain investment calculations and does not represent your audited statement of record. Page 2 of 2
Account Overview
Yorba Linda Water District
Account #18611500
Funding Date: 10/25/2005
Portfolio Statistics as of: 8/31/2008
Account Characteristics:
Portfolio Yield to Maturity 2.57%
Total Unrealized Gains/(Losses) - Current: (366)
Total Net Realized Gains/(Losses) - Since Inception: 496
Total Long-Term Investments: -
Total Short Duration Investments/Money Market Secs: 16,705,079
Total Market Value: 16,705,079
Total Number of Issues in the Portfolio: 18
MARKET DATA
Overnight Fed Funds Rate: 2.00%
6-Month T-Bill Yield: 1.95%
12-Month T-Note Yield: 2.17%
•
WELLS CAPITAL MANAGEMENT
Portfoo6mmary Report
For the period : 08 /01 /08 to 08/31/08
Portfolio Characteristics
% of Account
0.45
Portfolio Breakdown
Market Value.
16,705,079.25
Aaa/AAA
25.4%
Unrealized G /L:
(365.82)
2.4%
Agency Discount Note
Yield To Maturity:
2.57%
0.30
Commercial Paper
0.0%
Other
Floating Rate
Portfolio Duration:
0.17 Years
39.4%
Gov Agncy Obligation
Not Rated
0.0%
Money Market Fund
Avg. Days to Maturity:
63
Pending_Cash
Avg. Portfolio Credit Quality:
Aa1
Total
Market Data
08/31/08 07/31/08`
'MM94A WE
Yields:
6 Month Treasury Bill:
1.93%
1.85%
2 Year Treasury Note:
2.35%
2.52%
5 Year Treasury Note:
3.09%
3.27%
Fed Funds Tarqet:
2.00%
2.00%
Credit Quality"
Effective Maturity Distribution
Moody's Ratings - Primary 0.05
S&P Ratings - Secondary
Fitch Ratings - Tertiary 0.00
o/n 2 to 90 91 to 180
The above information is an estimate of certain investment calculations and does not represent your audited statement of record.
Yorba 'Water District
18611500
Market Value
% of Account
0.45
P1 /MIGINMIGI /A -1
24.8%
0.40
Aaa/AAA
25.4%
978,900.00
Aa/AA
2.4%
0.35
A/A
8.1%
0.30
Baa/BBB
0.0%
Other
0.0%
0.25
Cash/Overnights
39.4%
0.20
Not Rated
0.0%
100.0%
0.15
0.10
Moody's Ratings - Primary 0.05
S&P Ratings - Secondary
Fitch Ratings - Tertiary 0.00
o/n 2 to 90 91 to 180
The above information is an estimate of certain investment calculations and does not represent your audited statement of record.
Yorba 'Water District
18611500
Market Value
% of Account
3,256,960.00
19.50%
4,139,777.01
24.78%
1,747,895.55
10.46%
978,900.00
5.86%
6,581,546.63
39.40%
0.06
0.00%
16 , 705, 079.25
100.00%
181 to 1 year 1 to 2 years > 2 years
YORBA LINDA WATER DISTRICT
Statement of Cash Flows/Earnings for August 2008
I - Beginning Period Balances
As of 7/31/2008
Total Original Cost
16,807,089
+ Net Amort/Accr to Date
9,975
=Adjusted Book Value:
16,817,065
+ Accrued Interest Receivable
25,902
+ Unrealized Gain/(Loss)
(3,286)
= Total Market Value Plus Accrued Interest
16,839,680
II: Period Income Earned
+ Ending Accrual
19,656
- Begininning Accrual
(25,902)
+ Interest Received
26,578
- Interest Paid at Purchase
-
+ Interest Received at Sale
-
= Interest Earned in Period
20,3321
+ (Amort)/Accr This Period
15,086
= Monthly Portfolio Income $
35,4181
+ Contributions
-
- Withdrawals
(150,484)
+ Realized Gain/(Loss)
- Fees Paid This Period
(2,799)
- Prior Period Unrealized Gain/Loss
(3,286)
+ End Of Period Unrealized Gain/Loss
(366)
+ Net Receipts/Deliveries in Kind
0.00
+ Adjustments
0.00
= Net Change to the Portfolio 1
(135,277) 1
=Total Market Value Plus Accrued
Interest
16,724,735
III: End of Period Balances
As of 8/31/2008
Total Original Cost
16,682,193
+ Net Amort/Accr to Date
23,252
= Adjusted Book Value
16,705,445
+ Accrued Interest Receivable
19,656
+ Unrealized Gain/(Loss)
(366)
= Total Market Value Plus Accrued
Interest
16,724,735
Reconciliation Difference:
Wells Capital Management
Holdino port !
Securities Held as of: 8/31/08 on a Trade Date Basis
Identifier Credit Ratings
Par Value Security Description
Coupon
Final
(0)
(0)
0.00%
0.00%
Maturity
Moody's
S &P Fitch
0
0
I. Cash & Cash Equivalents (Original maturity
of 90 days or less)
09102/08
2
Cash
100.000
1,000,000
1,000,000
5.99%
U.S. DOLLARS
10/10/08
(0) PENDING CASH
0.11
99.740
598,440
598,440
(0)
2.33%
10/03/08
Money Mkt Securities
0.09
99.770
498,850
498,850
Agency Discount Note
2.71%
09/04/08
4
0.02
313396E41 AGY
AGY AGY
1,000,000 FHLMC
0.000
09/02/08
313588K20 AGY
AGY AGY
600,000 FNMA
0.000
10/10/08
Commercial Paper
2.99%
2.70%
09/19/08
19
04821TK38 P -1
A -1 NR
500,000 ATLANTIC ASSET SEC CORP
0.000
10/03/08
17312MJ41 P -1
A -1 NR
500,000 CITIBANK OMNI MASTER TR
0.000
09/04/08
2363F6K74 P -1
A -1+ NR
500,000 DANSKE CORPORATION
0.000
10/07/08
29372BJK1 P -1
A -1+ NR
500,000 ENTERPRISE FUNDING LLC
0.000
09/19/08
4611KOJS7 P -1
A -1+ NR
500,000 INTESA FUNDING LLC
0.000
09/26/08
7588ROKF3 P -1
A -1 NR
500,000 REGENCY MARKETS # 1 CPDN
0.000
10/15/08
92217LL56 P -1
A -1+ NR
450,000 VARIABLE FUNDING CAPITAL
0.000
11/05/08
98721LJ89 P -1
A -1+ NR
5D0,000 YORKTOWN CAPITAL LLC CPDN
0.000
09/08/08
Money Market Fund
100.000
6,581.547
6,596,391
39.40%
VP7000038 NR
NR NR
6,581,547 WF ADV MONEY MKT TR #645
2.283
Cash & Cash Equivalents
Total
12,131,547
2.45%
09/15/08
11. Marketable Securities (Original
maturity
greater than 90 days)
399,977
402,463
11A: Short Term Securities (Remaining maturity of less than 365 days)
2.91%
11/21/08
Corporate Securities
0.06
99.799
648,692
649,190
Corporate Obligation
2.51%
10/28/08
58
0.16
Floating Rate
699,227
701,054
4.19%
2.85%
40429CCU4 Aa3
AA- AA-
400,000 HSBC FINANCE CORPORATION
2.906
09/15108
617446A82 Al
A+ AA-
650,000 MORGAN STANLEY
2.511
11/21/08
929903AQ5 Al
A+ A+
700,000 WACHOVIA CORP
2.846
10/28/08
Govt Securities
05/08/09
250
0.68
98.060
Gov Agncy Obligation
686,420
4.11%
2.98%
01/23/09
313589GE7 AGY
AGY AGY
1,000,000 FNMA
0.000
05/29/09
Money Mkt Securities
3.08%
199
0.52
Agency Discount Note
4,583,028
4,587,839
27.43%
2.88%
313385KS4 AGY
AGY AGY
1,000,000 FHLB
0.000
08/21/09
313589FH1 AGY
AGY AGY
700,000 FNMA
0.000
05/08/09
Commercial Paper
6323AONP9 P -1
A -1+ NR
2DO,000 NATEXIS BANQUES POP USF CP
0.000
01/23/09
Short Term Securities Total
4,650,000
Yorba Lin Oter District
18611500
Effective Days Duration Market Price Market Market Value Holdings as YTM at
Maturity to Eff Value + Accrued Percentage of Purchase
Maturity Interest Account or Reset
The above information is an estimate of certain investment calculations and does not represent your audited statement of record. Page: 1 Of 2
(0)
(0)
0.00%
0.00%
0
0.00
0
0
0.00%
0.00%
09102/08
2
0.01
100.000
1,000,000
1,000,000
5.99%
2.25%
10/10/08
40
0.11
99.740
598,440
598,440
3.58%
2.33%
10/03/08
33
0.09
99.770
498,850
498,850
2.99%
2.71%
09/04/08
4
0.02
99.986
499,928
499,928
2.99%
2.90%
10/07/08
37
0.11
99.761
498,804
498,804
2.99%
2.70%
09/19/08
19
0.06
99.880
499,400
499,400
2.99%
2.89%
09/26/08
26
0.08
99.844
499,220
499,220
2.99%
2.73%
10/15/08
45
0.13
99.672
498,358
498,358
2.98%
2.96%
11/05/08
66
0.18
99.493
447,720
447,720
2.68%
2.82%
09/08/08
8
0.03
99.957
499,784
499,784
2.99%
2.65%
09/01/08
1
0.00
100.000
6,581.547
6,596,391
39.40%
2.28%
12
0.04
12,122,052
12,136,896
72.57%
2.45%
09/15/08
15
0.05
99.994
399,977
402,463
2.39%
2.91%
11/21/08
82
0.06
99.799
648,692
649,190
3.88%
2.51%
10/28/08
58
0.16
99.890
699,227
701,054
4.19%
2.85%
05/29/09
271
0.74
97.890
978,900
978,900
5.86%
2.91%
08/21/09
355
0.96
97.210
972,100
972,100
5.82%
3.02%
05/08/09
250
0.68
98.060
686,420
686,420
4.11%
2.98%
01/23/09
145
0.40
98.856
197,712
197,712
1.18%
3.08%
199
0.52
4,583,028
4,587,839
27.43%
2.88%
The above information is an estimate of certain investment calculations and does not represent your audited statement of record. Page: 1 Of 2
Holdino port
Securities Held as of: 8/31/08 on a Trade Date Basis
Identifier Credit Ratings Par Value Security Description
Coupon Final
Maturity
Moody's S &P Fitch
118: Long -Term Securities (Remaining maturity greater than 365 days)
Corporate Securities
Long Term Securities Total 0
Marketable Securities Total 4,650,000
16,781,547
Yorba Linter District
18611500
Effective Days Duration Market Price Market Market Value Holdings as YTM at
Maturity to Eff Value + Accrued Percentage of Purchase
Maturity Interest Account or Reset
0 0.00 0 0
199 0.52 4,583,028 4,587,839
63 0.17 16,705,079 16,724,735
The above information is an estimate of certain investment calculations and does not represent your audited statement of record.
0.00% 0.00
27.43% 2.88
100.00% 2.57
Page: 2 of 2