HomeMy WebLinkAbout2009-08-11 - Finance-Accounting Committee Meeting Agenda Packet
'rb Linda
Water District
AGENDA
YORBA LINDA WATER DISTRICT
FINANCE-ACCOUNTING COMMITTEE MEETING
Tuesday, August 11, 2009, 4:00 PM
1717 E Miraloma Ave, Placentia CA 92870
COMMITTEE STAFF
Director Michael J. Beverage, Chair Ken Vecchiarelli, General Manager
Director John W. Summerfield Diane Cyganik, Finance Director
Sandi Van Etten, Senior Accountant
1. 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.
2. ACTION CALENDAR
This portion of the agenda is for items where staff presentations and committee discussions are needed prior to
formal committee action.
2.1. Monthly Financial Statements for June 2009
Recommendation: That the Committee receive and file the Preliminary Financial
Statements.
2.2. Monthly Investment Report for June 2009
Recommendation: That the Committee receive and file the Investment Report.
3. DISCUSSION ITEMS
This portion of the agenda is for matters such as technical presentations, drafts of proposed policies, or similar
items for which staff is seeking the advice and counsel of the Committee members. This portion of the agenda
may also include items for information only.
3.1. Monthly Portfolio Reports for July 2009
3.2. Cash Out Audit for Finance Director
3.3. Future Agenda Items and Staff Tasks
4. ADJOURNMENT
4.1. The next regular meeting of the Finance-Accounting Committee will be held September
8, 2009 at 4:00 p.m.
Items Distributed to the Committee Less Than 72 Hours Prior to the 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 Committee 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 http://www.ylwd.com/.
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 the Executive 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.
ITEM NO. 2.1
AGENDA REPORT
Meeting Date: August 11, 2009 Budgeted: N/A
To: Finance-Accounting Committee
Funding Source: N/A
From: Ken Vecchiarelli, General
Manager
Presented By: Sandi Van Etten, Senior Dept: Finance
Accountant
Reviewed by Legal: N/A
Prepared By: Sandi Van Etten, Senior CEQA Compliance: N/A
Accountant
Subject: Monthly Financial Statements for June 2009
SUMMARY:
A presentation will be made of the Preliminary June 2009 Financial Statements. These statements
represent trial balances. As the final audit is completed, these statements may need to be revised
further to reflect any Fiscal Year 2008/09 adjustments determined necessary by the audit.
STAFF RECOMMENDATION:
That the Committee receive and file the Preliminary Financial Statements.
DISCUSSION:
The Water Fund and the Sewer Fund had operating losses through June 30, 2009 of $6,808,913.94
and $334,681.53, respectively. The key factors are as follows:
Wateffhe Water Fund's operating loss increased $3,675,805 in June. The large jump in June's
loss is primarily due to annual revenue reclassifications that are historically processed at the end of
the fiscal year (i.e, in June). Revenue received in July, August and in some cases even as late as
September 2009, which was generated from June 2008 water meter readings, has already been
"accrued" or accounted for in FY 2007/08 as "unbilled receivables". The equivalent amount of
revenue, which was actually received in FY 2008/09, must be "reclassified" or backed out of that
year's revenue. This reclassification insures against a double booking of revenue and results in a
more accurate accounting process. More than $2M net revenue was adjusted out of FY 2008/09's
for this accrual and reclassification process.
Expenses also increase at the end of the fiscal year when costs from jobs that are not capital
assets, such as our expenses from the 2008 Freeway Complex Fires are "reclassified" or cleared
out. Compounding these affects, revenue also dropped in June with lower than anticipated water
demands and other expenses increased as vehicle and equipment outlay and other material
purchases were made before the fiscal year end.
Sewer:Sewer Fund's operating loss also increased in June. This was mainly due to lower revenue
and job closing expenses, as explained under the water discussion.
PRIOR RELEVANT BOARD ACTION(S):
Financial Statements are presented to the Finance-Accounting Committee on a monthly basis.
Quarterly Financial Statements are presented to the Board of Directors which are then received and
filed.
ATTACHMENTS:
Jun09 prelim FS.pdf .:_:n00 prelim PS Backup Material
OW07105 Yorba Linda Water District
1023 AM Revenue/Expense Report
Water Detail
For the Twelve Months Ending June 30, 2909
Full Year YTD YTD YTD
Budget Budget Actual Under(Over) Month
FY 2009 FY 2009 FY 2009 Budget June/2009
Revenue (Operating):
Water Revenue (Residential) $12,991,060 $12,991,060 $14,031,947 ($1,040,887) ($1,047,743)
(Restricted for Debt Service) (3,022,468) 3,022,468 (235,597)
Water Revenue (Commercial & Fire Det.) 1,341,790 1,341,790 1,581,046 (239,256) 91,139
Water Revenue (Landscape/Irrigation) 2,746,450 2,746,450 3,647,827 (901,377) 234,056
Other Operating Revenue 655,900 655,900 807,754 (151,854) 172,121
Total Operating Revenue: 17, 735, 200 17, 735, 200 17,046,106 689,094 (786,023)
Expenses (Operating):
Variable Water Costs (G.W., Import & Power) 11,156,500 11,156,500 10,771,418 385,082 1,041,208
Salary Related Expenses 7„114,220 7,114,220 5,753,747 1,360,473 699,758
Supplies & Services:
Communications 247,768 247,768 304,623 (56,855) 67,558
Contractual Services 729,946 729,946 779,231 (49,285) 175,258
Data Processing 260,931 260,431 134,037 126,894 19,822
Dues & Memberships 31,273 31,273 22,417 8,856 637
Fees & Permits 37,934 37,934 31,102 6,832 1,688
Board Election 39,999 39,999 37,789 2,210
Insurance 303,940 303,940 230,792 73,148 93
Materials 586,461 586,461 857,937 (271,475) 89,399
District Activities, Emp Recognition 20,100 20,100 14,467 5,633 24
Non-Capital Equipment 207,413 207,413 63,260 144.153 2,362
Office Expense 60,374 60,374 34,171 26,203 2,274
Professional Services 620,590 620,590 494,167 126,423 192,537
Training 86,262 86,262 16,941 69,320 602
Travel & Conferences 58,105 58,105 28,021 30,084 2,619
Uncollectible Accounts 19,499 19,499 24,615 (5,115) 24,615
Collection Agency Fee 1,000 1,000 1,000
Utilities 63,920 63,920 25,621 38,300 2,048
Vehicle Equipment 242,787 242,787 342,387 (99,600) 15,311
Job Closing Expense 263,700 X263.700) 178,722
Supplies & Services Sub-Total 3,618,302 3,618,302 3,705,277 (86,975) 775,571
Depreciation & Amortization 3,676,500 3,676,500 3,624,579 51,921 373,245
Total Operating Expenses 25,565,522 25,565,522 23,855,020 1,710,502 2,889,782
Operating Income (Loss) (7,830,322) (7,830,322) (6,808,914) (1,021,408) (3,675,805)
Revenue (Non-Operating):
Interest 47,500 47,500 19,814 27,686 1,184
Interest (Restricted for Capital Projects) 293,381 (293,381) 5,559
Property Taxes 1,200,150 1,200,150 1,276,638 (76,488) 35,259
Debt Service Income (through water revenue) 3,022,468 (3,022,468) 235,597
Other Non-Operating Revenue 449,200 449,200 611,625 _ (162,425) 28,455
Total Non-Operating Revenue: 1,696,850 1,696,850 5,223,927 (3,527,077) 306,054
Expenses (Nan-Operating):
Interest on Long Term Debt 2,050,887 (2,050,887) 164,197
Other Expense 24,300 24,300 166,928 (142,628) 4,757
Total Non-Operating Expenses: 24,300 24,300 2,217,815 (2,193,515) 168,954
Non-Operating Income (toss) 1,672,550 1,672,550 3,006,112 (1,333,562) 137,101
Total Income (Loss) _ (6,157,772 _ 6,157,772 (3,802,802 _ (2,354,971) (3,538,704
Contributed Capital 667,100 667,100 2,042,842 (1,375,742) 561,343
08!97/69 Yorba Linda Water District
10-39 AM Revenue/Expense Report
Sewer Detail
For the Twelve Months Ending June 30, 2009
Full Year YTI] YTD YTD
Budget Budget Actual Under(Over) Month
FY 2009 FY 2409 FY 2049 Budget June/2009
Revenue (Operating):
Sewer Charge Revenue $1,141,650 $1,141,650 $1,155,734 [$14,084} {$25,847)
Locke Ranch Assessments 104,900 104,900 104,581 319 4,750
Other Operating Revenue 3,300 3,300 18,599 (15,299) 14,240
Total Operating Revenue: 1,249,850 1,249,850 1,278,914 (29,064) (6,856)
Expenses (Operating):
Salary Related Expenses 998,748 998,748 624,438 374,310 62,490
Supplies & Services:
Communications 26,467 26,467 25,910 558 6,363
Contractual Services 149,889 149,889 99,064 50,826 27,099
Data Processing 46,711 46,711 1,863 44,848 80
Dues & Memberships 3,157 3,157 2,315 842 173
Fees & Permits 10,702 10,702 3,567 7,134 859
Board Election 3,601 3,601 3,737 (136)
Insurance 27,365 27,365 22,826 4,539 9
Materials 65,579 65,579 58,504 7,075 22,862
District Activities, Emp Recognition 1,810 1,810 1,431 379 2
Non-Capital Equipment 21,432 21,432 3,661 17,771 167
Office Expense 5,436 5,436 3,380 2,056 225
Professional Services 57,435 57,435 58,893 (1,458) 27,287
Training 9,273 9,273 6,056 3,217 1,399
Travel & Conferences 6,580 6,580 2,291 4,289 259
Uncollectible Accounts 1,756 1,756 2,520 (764) 2,520
Collection Agency Fee 90 90 90
Utilities 5,755 5,755 215 5,540 20
Vehicle Equipment 50,833 50,833 50,630 203 2,361
Job Closing Expense 98,917 (98`917) Supplies & Services Sub-Total 493,870 493,870 445,779 48,092 91,686
Depreciation & Amortization 564,200 564,200 543,379 20,821 47,157
Total Operating Expenses 2,056,818 2,056,818 1,613,595 443,223 201,333
Operating Income (Less) (806,968) (806,968) (334,682) (472,287) (208,189)
Revenue (Non-Operating):
Interest 17,000 17,000 8,286 8,714 590
Interest (Restricted for Capital Projects) 1,036 (1,036) 102
Property Taxes 66,000 66,0100 66,000
Other Non-Operating Revenue 5,000 5,000 13,552?)
Total Nan-Operating Revenue: 88,000 88,000 22,874 65,126 (124)
Expenses (Non-Operating):
Other Expense 6,700 6,700 2,194 4,506 204
Total Non-Operating Expenses: 6,700 6,700 2, 1944 4,506 204
Non-Operating income (Loss) 81,300 81,300 20,680 60,620 (328)
Total Income (Loss) ~25,6611 725,668 314,002 411,667 208,517
Contributed Capital 251,000 251,000 2,300,088 (2,049,088) 322,583
08/07109 Yorba Linda Water District
10:37 AM Summary Financial Report
Water & Sewer
For the Twelve Months Ending June 34, 2009
Full Year YTD YTD YrD
Budget Budget Actual Under(Over) Month
FY 2009 FY 2009 FY 2009 Budget June/2009
Revenue (Operating):
Water Revenue (Consumption & Flat Charge) $17,441,010 $17,441,010 $19,597,967 ($2,156,957) ($690,605)
(Restricted for Debt Service) (3,022,468) 3,022,468 (235,597)
Sewer Revenue 1,246,550 1,246,550 1,260,315 (13,765) (21,097)
Other 297,490 297,490 489,206 (191,716) 154,419
Total Operating Revenue: 18,985,050 98,985,050 18,325,020 660,030 (792,879)
Expenses (Operating):
Variable Water Costs (G.W., Import & Power) 11„156,500 11,156,500 10,771,418 385,082 1,041,208
Salary Related Expenses 8,112,968 8,112,968 6,378,185 1,734,784 762,248
Supplies & Services 4,112,172 4,112,172 4,151,056 (38,883) 867,257
Depreciation & Amortization 4,240,700 4,240,700 4,167,957 72,743 420,402
Total Operating Expenses: 27, 622,340 27,622, 340 25,468, 615 2,153, 725 3,091,115
Operating Income (Loss) (8,637,290) (8,637,290) (7,143,595) (1,493,695) (3,883,994)
Revenue (Non-Operating):
Interest 54,500 64,500 28,100 36,400 1,773
Interest (Restricted for capital projects) 294,417 (294,417) 5,661
Property Taxes 1,266,150 1,266,150 1,276,638 (10,488) 35,259
Debt Service Income (through water revenue) 3,022,468 (3,022,468) 235,597
Other 454,200 454,200 625,177 (170,977) 27,639
Total Non-Operating Revenue: 1,784,850 1,784,850 5,246,809 (3,461,951) 305,929
Expenses (Non-Operating).-
Interest on Long Term Debt 2,050,887 (2,050,887) 164,197
Other Expense 31,000 31,000 169,122 (138,122) 4,960
Total Non-Operating Expenses: 31,000 31,000 2,220,008 (2,189,008) 969,157
Non-Operating Income (Loss) 9,753,850 1,753,850 3,026,792 (1,272,942) 136,772
Net Income (Loss) (6,88 (6,883,440 (4116,803) (2,766,637) (3
Other Expenditures and Outlay:
Capital - Direct Labor 387,200
Capital - Labor Allocation (7%) 480,078
Capital - Supplies & Services Allocation (7%0) 312,445
Principal on Debt 570,000
Vehicle and Equipment Outlay 248,700
Total Other Expenditures/Outlay: 1,998,423
Income (Loss) w/ Other Expenditures (6,195,227)
Contributed Capital 918,100 918,100 4,342,929 (3,424,829) 883,926
ITEM NO. 2.2
AGENDA REPORT
Meeting Date: August 11, 2009 Budgeted: N/A
To: Finance-Accounting Committee
Funding Source: N/A
From: Ken Vecchiarelli, General
Manager
Presented By: Sandi Van Etten, Senior Dept: Finance
Accountant
Reviewed by Legal: N/A
Prepared By: Sandi Van Etten, Senior CEQA Compliance: N/A
Accountant
Subject: Monthly Investment Report for June 2009
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.
STAFF RECOMMENDATION:
That the Committee receive and file the Investment Report.
DISCUSSION:
Staff is submitting the June 2009 Monthly Investment Report for your review and approval. Staff will
submit a Quarterly Investment Report ending June 30, 2009 for Board action upon its approval by
the Finance-Accounting Committee.
PRIOR RELEVANT BOARD ACTION(S):
Monthly Investment Reports are presented to the Finance-Accounting Committee on a regular
basis. Quarterly Investment Reports are presented to the Board of Directors. The Investment
Report for the quarter ending March 31, 2009 was received and filed by the Board of Directors on
May 28, 2009.
ATTACHMENTS:
;ascription: i ype.
Invst Rpt 6-09.xls nvestment report Backup Material
Agenda, 8-11_backup.doc agenda backup Backup Material
Yorba Linda Water District
Investment Portfolio Report
June 30, 2009
Market % Percent Investment Maturity
Value Cost of Total Institution Yield Date Date
Cash & Checking Accounts:
$ 1,475,934 $ 1,475,934 Wells Fargo Bank N/A
1,200 1,200 Imprest Cash
$ 1,477,134 $ 1,477,134 3.13% Total 0.00%
Money Market Accounts:
$ 178,549 $ 178,549 Wells Fargo Money Market 0.30% N/A
- - Wells Fargo MM/Annexation 0.30%
$ 178,549 $ 178,549 0.38% Total 0.30%
$ 1,655,683 $ 1,655,683 3.51% Sub-total 0.03%
California Asset Mgmt. Program:
$ 6,689,780 $ 6,689,780 14.18% California Asset Mgmt. Program 0.56% N/A
Money Market Account:
$ 21,513,330 $ 21,513,330 US Bank 2008 Revenue Bond 0.22%
0 0 US Bank 2003 Revenue Bond 0.00% N/A
$ 21,513,330 $ 21,513,330 45.59% 0.22%
$ 29,858,793 $ 29,858,793 63.28% Sub Total Investments 0.29%
Individual Management Account:
$ 17,345,088 $ 17,330,058 36.72% Wells Capital Management 1.10% N/A
$ 47,203,881 $ 47,188,851 100% Total Investments 0.58%
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
6/30/2009
Investment Report Summary
Below is a chart summarizing the yields as well as terms and maturities for the month of June
2009.
Avg. Portfolio Avg. Portfolio # of Avg. Term
Month Yield Without Yield With Days to of Portfolio
of 2009 Wells Capital Wells Capital Maturity in Days
June 0.29% 0.58% 144 52
Below is a chart comparing operating fund interest for current and prior fiscal years.
Actual Interest 06/30/08 06/30/09
Monthly, Operating Fund $ 614 $ 489
Year-to-Date, Operating Fund $28,823 $ 6,655
Budget 2007/2008 2008/2009
Interest Budget, Operating Fund, June YTD $86,000 $64,500
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 Balance 06/30/09
Annexation 9,256,503 19.60%
Water Operating -5.70%
Water R&R 2,048,767 4.34%
Water Capital Projects 149,500 0.32%
Restricted for Debt Service 1,453,657 3.08%
COP Revenue Bond 2003 0 0.00%
COP Revenue Bond 2008 21,513,330 45.54%
Sewer Operating 1,450,534 3.07%
Sewer R&R 371,271 0.79%
Sewer Capital Projects 188,729 0.40%
ID1 4,332,005 9.17%
ID2 9,159,402 19.39%
$47,235,913 100.00%
ITEM NO. 3.1
AGENDA REPORT
Meeting Date: August 11, 2009
Subject: Monthly Portfolio Reports for July 2009
ATTACHMENTS:
YLWD Overview paagel.pdf =JCM1 Backup Material
YLWD_SummaryPage2.pdf JCM2 Backup Material
YLWD CashFlow 07 31 09 page 3.pdf !4CM3 Backup Material
YLWD holdings page4.pdf JCM4 Backup Material
Account Overview
Yorba Linda Water District
Account #18611500
Funding Date: 10/25/2005
Portfolio Statistics as of: 7/31/2009
Account Characteristics:
Portfolio Yield to Maturity 1.02%
Total Unrealized Gains/(Losses) - Current: 18,005
Total Net Realized Gains/(Losses) - Since Inception: 2,243
Total Long-Term Investments: -
Total Short Duration Investments/Money Market Secs: 17,361,155
Total Market Value: 17,361,155
Total Number of Issues in the Portfolio: 25
MARKET DATA
Overnight Fed Funds Rate: 0.00%
6-Month T-Bill Yield: 0.25%
12-Month T-Note Yield: 0.47%
WELLS CAPITAL MANAGEMENT
Portfolio Summary Report
For the period : 07/01/09 to 07/31/09
Yorba Linda Water District
18611500
Portfolio Characteristics
0.35
Portfolio Breakdown
19.8%
0.30
Market Value:
17,361,155.04
Market Value
% of Account
Unrealized G /L:
18,005.45
7.3%
Agency Discount Note
5,593,880.00
32.22%
0.20
Other
0.0%
Certs of Deposit
500,000.00
2.88%
Yield To Maturity:
1.02%
2.9%
Commercial Paper
3,445,113.89
19.84%
Portfolio Duration:
0.42 Years
Fixed Rate
1,269,891.65
7.31%
Fitch Ratings - Tertia rY
Floating Rate
1,326,894.93
7.64%
Avg. Days to Maturity:
171
Money Market Fund
2,192,733.44
12.63%
Avg. Portfolio Credit Quality:
Aa1
Pending_Cash
0.13
0.00%
Treasury Obligation
1,025,352.00
5.91%
US Agency Fixed Rate
2,007,289.00
11.56%
Total
17,361,155.04
100.00%
Market Data
07/31/09
06/30/09
Yields:
6 Month Treasury Bill:
0.25%
0.34%
2 Year Treasury Note:
1.11%
1.11%
5 Year Treasury Note:
2.51%
2.56%
Fed Funds Target:
0-0.25%
0 - 0.25%
Credit Quality*
Effective Maturity Distribution
o/n 2 to 90 91 to 180 181 to 1 year 1 to 2 years > 2 years
The above information is an estimate of certain investment calculations and does not represent your audited statement of record.
0.35
P1 /MIG1/VMIG1 /A -1
19.8%
0.30
Aaa /AAA
49.7%
Aa /AA
7.7%
0.25
A/A
7.3%
Baa /BBB
0.0%
0.20
Other
0.0%
Cash /Overnights
12.6%
0.15
Not Rated
2.9%
100.0%
0.10
* Moody's Ratings - Primary
0.05
S &P Ratings - Secondary
Fitch Ratings - Tertia rY
000
o/n 2 to 90 91 to 180 181 to 1 year 1 to 2 years > 2 years
The above information is an estimate of certain investment calculations and does not represent your audited statement of record.
YORBA LINDA WATER DISTRICT
Statement of'Cash Flotics/Enrnings for Juli• 2009
I - Beginning Period Balances As of 6/3(1/2(109
Total Original Cost 17 270,931
+ Net Amort/Accr to Date 59,127
=Adjusted Book Value: 17,330.058
+ Accrued Interest Receivable 32,032
+ Unrealized Gain/(Loss) 15,030
= Total Market Value Plus Accrued Interest 17,377,120
II: Period Income Earned
+ Ending Accrual 31,904
- Begininning Accrual (32,032)
+ Interest Received 14,221
- Interest Paid at Purchase (401)
+ Interest Received at Sale -
= Interest Earned in Period 13,692
+ (Anort)/Accr This Period 2,166
= Monthly Portfolio Income $ 15,858
+ Contributions -
- Withdrawals -
+ Realized Gain/(Loss) -
- Fees Paid This Period (2,894)
- Prior Period Unrealized Gain/Loss 15,030
+ End Of Period Unrealized Gain/Loss 18,005
+ Net Receipts/Deliveries in Kind 0.00
+ Adjustments 0.00
= Net Change to the Portfolio 2,247
=Total Market Value Plus Accrued
Interest 17,393,(159
III: End of Period Balances As of 7/31/2009
Total Original Cost 17.300,751
+ Net Amort/Accr to Date 42,399
= Adjusted Book Value 17,343,150
+ Accrued Interest Receivable 31,904
+ Unrealized Gain/(Loss) 18,005
= Total Market Value Plus Accrued
Interest 17,393,(159
Reconciliation DI ffirence:
Wells Capital Management
Holdings Report
Securities Held as of: 7/31/09 on a Trade Date Basis
Identifier Credit Ratings Par Value Security Description
Moody's S &P Fitch
I. Cash & Cash Equivalents (Original maturity of 90 days or less)
Cash
U.S. DOLLARS 0 PENDING CASH
Money Mkt Securities
Agency Discount Note
Commercial Paper
Yorba Linda Water District
18611500
Coupon Final Effective Days Duration Market Price Market Market Value Holdings as YTM at
Maturity Maturity to Eff Value + Accrued Percentage of Purchase
Maturity Interest Account or Reset
0 0
77619EVB3 P -1 A -1+ NR 500,000 ROMULUS FUNDING CORP 0.000 08/11/09 08/11/09 11 0.03 99.986 499,931 499,931
Money Market Fund
0.00
2.88% 0.61
VP7000038 NR
NR
NR
2,192,733 WFADV MONEY MKT TR #645
0.292
08/01 /09
1
0.00
100.000
2,192,733
2,193,726
12.63 %
0.29
Cash & Cash Equivalents Total
2,692,734
3
0.01
2,692,665
2,693,657
15.51%
0.35
II. Marketable Securities
(Original
maturity greater than 90 days)
IIA: Short Term Securities (Remaining maturity of less than 365 days)
Certificate of Deposit
25213JBK3 NR
NR
NR
500,000 DEXIA CREDIT LOCAL SA NY
1.060
01/04/10
01/04/10
157
0.43
100.000
500,000
500,348
2.88%
1.04%
Corporate Securities
Corporate Obligation
Fixed Rate
073928W90 Aa3
A+
AA-
325,000 BEAR STEARNS CO INC
5.850
07/19/10
07/19/10
353
0.94
102.883
334,371
335,005
1.93%
2.30
285659AE8 A2
A
A+
300,000 ELECTRONIC DATA SYSTEMS
7.125
10/15/09
10/15/09
76
0.21
101.397
304,190
310,484
1.75%
2.12%
617446DX4 A2
A
A
300,000 MORGAN STANLEY
8.000
06/15/10
06/15/10
319
0.84
103.975
311,925
314,991
1.80%
1.93
Floating Rate
402479BZ1 A2
A
A
325,000 GULF POWER -SR NT
0.704
06/28/10
06/28/10
332
0.16
100.153
325,497
325,726
1.87%
0.70%
89233P3D6 Aal
AA+
NR
500,000 TOYOTA MOTOR CREDIT CORP
1.746
01/29/10
01/29/10
182
0.25
99.978
499,889
499,962
2.88%
1.75%
91159HGP9 Aa3
A+
AA-
500,000 US BANCORP
1.407
05/06/10
05/06/10
279
0.02
100.302
501,509
503,209
2.89%
1.41
Govt Securities
Agency Discount Note
3133XU7L1 AGY
AGY
AGY
1,000,000 FHLB
0.550
07/20/10
07/20/10
354
0.97
99.938
999,375
999,543
5.76%
0.57%
313313MR6 AGY
AGY
AGY
1,000,000 FFCB
0.000
10/07/09
10/07/09
68
0.19
99.970
999,700
999,700
5.76%
2.00%
313385KS4 AGY
AGY
AGY
1,000,000 FHLB
0.000
08/21/09
08/21/09
21
0.06
100.000
1,000,000
1,000,000
5.76%
3.02%
313385RK4 AGY
AGY
AGY
800,000 FHLB
0.000
01/05/10
01/05/10
158
0.43
99.880
799,040
799,040
4.60%
0.82%
313385SB3 AGY
AGY
AGY
1,000,000 FHLB
0.000
01/21/10
01/21/10
174
0.48
99.870
998,700
998,700
5.75%
0.87%
313385WR3 AGY
AGY
AGY
1,000,000 FHLB
0.000
05/11/10
05/11/10
284
0.78
99.660
996,600
996,600
5.74%
0.55%
313397LZ2 AGY
AGY
AGY
800,000 FHLMC
0.000
09/21/09
09/21/09
52
0.14
99.980
799,840
799,840
4.61%
0.71
Treasury Obligation
912828DR8 TSY
TSY
TSY
1,000,000 UNITED STATES TREASURY
4.000
04/15/10
04/15/10
258
0.70
102.535
1,025,352
1,037,155
5.91%
0.59%
Commercial Paper
06737HXM6 P -1
A -1+
NR
450,000 BARCLAYS US FUNDING LLC
0.000
10/21/09
10/21/09
82
0.22
99.936
449,714
449,714
2.59%
0.99%
The above information is an estimate of certain investment calculations and does not represent your audited statement of record. Page: 1 of 2
Holdings Report
Securities Held as of: 7/31/09 on a Trade Date Basis
Identifier Credit Ratings
Par Value Security Description
Coupon
Final
1.84%
Yorba Linda Water District
09/10/10 406
Maturity
Moody's S &P Fitch
1,013,593
5.81%
0.78%
13170RVS3 P -1 A -1+ F -1+
500,000 CALYON NORTH AMERICA INC
0.000
08/26/09
4497WOZU5 P -1 A -1+ NR
500,000 ING (US) FUNDING LLC
0.000
12/28/09
64105HDG4 P -1 A -1+ NR
500,000 NESTLE CAP CORP DISC P/N
0.000
04/16/10
80281KAF4 P -1 A -1+ NR
500,000 SANTANDER CNTL HISPANO CPC
0.000
01/15/10
83365RYL3 P -1 A -1 NR
500,000 SOCIETE GENERALE N AMER CP
0.000
11/20/09
Short Term Securities Total:
13,300,000
Interest
116: Long -Term Securities (Remaining maturity greater than 365 days)
or Reset
08/26/09
Corporate Securities
0.07
99.987
499,936
Fixed Rate
2.88%
1.11
12/28/09
38141GAZ7 Al A A+
300,000 GOLDMAN SACHS GROUP INC
6.875
01/15/11
Govt Securities
2.88%
0.45%
04/16/10
US Agency Fixed Rate
0.71
99.630
498,151
3128X8QT2 AGY AGY AGY
1,000,000 FHLMC
1.450
09/10/10
Long Term Securities Total:
1,300,000
99.821
499,106
Marketable Securities Total:
14,600,000
0.51
11/20/09
Portfolio Total:
17,292,734
99.806
499,031
01/15/11 533
1.39
106.469 319,406
320,323
1.84%
Yorba Linda Water District
09/10/10 406
1.09
100.791 1,007,914
1,013,593
5.81%
0.78%
437
18611500
Effective
Days
Duration
Market Price
Market
Market Value
Holdings as
YTM at
Maturity
to Eff
171
0.42
Value
+ Accrued
Percentage of
Purchase
Maturity
Interest
Account
or Reset
08/26/09
26
0.07
99.987
499,936
499,936
2.88%
1.11
12/28/09
150
0.41
99.849
499,245
499,245
2.88%
0.45%
04/16/10
259
0.71
99.630
498,151
498,151
2.87%
0.48
01/15/10
168
0.46
99.821
499,106
499,106
2.87%
0.51
11/20/09
112
0.31
99.806
499,031
499,031
2.87%
0.56
179
0.43
13,341,170
13,365,486
76.84%
1.14%
01/15/11 533
1.39
106.469 319,406
320,323
1.84%
2.45%
09/10/10 406
1.09
100.791 1,007,914
1,013,593
5.81%
0.78%
437
1.17
1,327,320
1,333,916
7.65%
1.18%
202
0.50
14,668,490
14,699,402
84.49%
1.14
171
0.42
17,361,155
17,393,059
100.00%
1.02%
The above information is an estimate of certain investment calculations and does not represent your audited statement of record. Page: 2 of 2