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Home My WebLink About2009-10-27 - Finance-Accounting Committee Meeting Agenda Packet 'rb Linda Water District AGENDA YORBA LINDA WATER DISTRICT FINANCE-ACCOUNTING COMMITTEE MEETING Tuesday, October 27, 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 Cindy Navaroli, Interim 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. 1 st Quarter FY 09/10 Financial Statements Recommendation: That the Finance-Accounting Committee recommend the Board of Directors receive and file the 1st Quarter FY 09110 Financial Statements. 2.2. Monthly Investment Report for July and August 2009 Recommendation: That the Finance-Accounting Committee receive and file the Investment Report for July and August 2009. 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 Report for September 2009 3.2. Investment Holdings in Foreign Companies 3.3. Alternatives to District Retirement Plan 3.4. Bond Covenants Timeline 3.5. Overtime Analysis 3.6. Future Agenda Items and Staff Tasks 4. ADJOURNMENT 4.1. The next regular meeting of the Finance-Accounting Committee will be held November 10, 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: October 27, 2009 Budgeted: N/A To: Finance-Accounting Committee Funding Source: N/A From: Ken Vecchiarelli, General Manager Presented By: Cindy Navaroli, Interim Finance Dept: Administration Director Reviewed by Legal: N/A Prepared By: Cindy Navaroli, Interim Finance CEQA Compliance: N/A Director Subject: 1 st Quarter FY 09/10 Financial Statements SUMMARY: Presented are the 1 st Quarter FY 09/10 Financial Statements for the Water and Sewer Funds. STAFF RECOMMENDATION: That the Finance-Accounting Committee recommend the Board of Directors receive and file the 1 st Quarter FY 09/10 Financial Statements. DISCUSSION: The first quarter financial statements for the Water and Sewer Fund are presented for review and approval (July 2009 - September 2009): 1. Page 1 of this item is the Water and Sewer Funds combined in a summary format for the 1 st quarter. 2. Page 2 presents the Water Fund financial results by month, and in summation for the quarter. 3. Page 3 presents the Water Fund's 1 st quarter actual results as a percentage of the amended annual budget. 4. Page 4 presents the Sewer Fund financial results by month, and in summation for the quarter. 5. Page 5 presents the Sewer Fund's 1 st quarter actual results compared to the amended annual budget. Staff is wrapping up the implementation of the new accounting software system and is in the process of creating specialized, automated financial reports, which will be provided in final format for review at the November Finance-Accounting Committee meeting. Please note that some of the expense items may appear to have large variances with their respective budget line. This incongruence is due to the implementation of the new accounting system and the links between where the account is categorized for financial statement purposes versus budgeting purposes. These account grouping and linkings will be finalized at the next committee meeting. Financial Analysis: As of September 30, the District has completed 25% of the year and would expect (in general) that 25% of budgeted revenues and expenses will be reflected on the financial statements. However, some items such as water revenues, insurance, permits, and materials are not spent evenly throughout the year and may have higher or lower expenses in the first quarter than other quarters, due to the timing of the payments. As of September 30, the Water Fund has typically collected approximately 30% of its annual revenues, however, revenues are only at 26.8% due to conservation efforts that have leveled off somewhat in September. Implementation of the water rate increase effective September 14th will bring the revenue numbers up for the balance of the fiscal year. Overall, most expenses are on target with projections, except for the Utilities expense. The total net loss for the Water Fund is 39.5% of the annual budget. This difference is mainly due to the timing of certain expenditures in the first quarter, such as permits, insurance, and materials bought at the beginning of the fiscal year. This is further compounded by the lower water rate and these numbers are expected to change dramatically with the water rate increase. The Sewer Fund is on target with most budgeted items, with the exception of insurance, which is due to the timing of the annual payment. ATTACHMENTS: Water Sewer summary, 1st quarter.xls Nater & Sewer, summary Backup Material Waterer 1st quarter.pdf "later detail, 1 st quarter Backup Material Sewer 1st quarter.xls Sewer - 1 st quarter Backup Material Yorba Linda Water District Summary Financial Report Water & Sewer For the Three Months Ending September 30, 2009 % of Full Year Actual Annual Budget Budget 1st QTR Amended FY 09/10 FY 09/10 10/13/09 Revenue (Operating): Water Revenue (Consumption & Flat Charge) $23,027,873 $5,862,303 25% (Restricted for Debt Service) (842,006) Sewer Revenue 1,276,000 308,565 24% Other 586,892 194,763 33% Total Operating Revenue: 24,890,765 5,523,625 22% Expenses (Operating): Variable Water Costs (G.W., Import & Power) 12,259,938 3,789,766 31% Salary Related Expenses 7,005,049 1,579,480 23% Supplies & Services 4,479,584 1,092,886 24% Depreciation & Amortization 4,540,800 1,150,574 25% Total Operating Expenses: 28,285,371 7,612,706 27% Operating Income (Loss) (3,394,606) (2,089,081) 62% Revenue (Non-Operating): Interest 147,500 41,749 28% Property Taxes 1,200,000 45,227 4% Debt Service Income (through water revenue) 842,006 Other 107,500 112,894 105% Total Non-Operating Revenue: 1,455,000 1,041,876 72% Expenses (Non-Operating): Interest on Long Term Debt 1,981,300 492,591 25% Other Expense 201,800 18,161 9% Total Non-Operating Expenses: 2,183,100 510,752 23% Non-Operating Income (Loss) (728,100) 531,124 Net Income (Loss) (4,122,706) (1,557,957) 38% Other Expenditures and Outlay: Capital - Direct Labor 19,903 Capital - Labor Allocation (7%) 5,574 Vehicle and Equipment Outlay 161,448 Total Other Expenditures/Outlay: 186,925 Income (Loss) w/ Other Expenditures (1,744,882) Contributed Capital 381,924 166,644 44% Yorba Linda Water District For the Three Months Ended September 30, 2009 Water Fund July August Sept 1st quarter 2009 2009 2009 YTD Revenue (Operating): Water Revenue (Residential) $1,458,121 $1,312,512 $1,648,977 $4,419,610 (Restricted for Debt Service) (282,072) (249,151) (310,783) (842,006) Water Revenue (Commercial & Fire Det.) 144,146 131,363 159,951 435,460 Water Revenue (Landscape/Irrigation) 343,299 295,314 368,620 1,007,233 Other Operating Revenue 55,647 71,590 66,657 193,894 Total Operating Revenue: 1,719,141 1,561,628 1,933,422 5,214,191 Expenses (Operating): Variable Water Costs (G.W., Import& Power) 1,171,389 1,321,234 1,297,143 3,789,766 Salary Related Expenses 312,253 645,669 438,937 1,396,859 Supplies & Services: Communications 42,342 33,996 16,313 92,651 Contractual Services 66,450 80,959 72,637 220,046 Data Processing 169 - 187 356 Dues & Memberships 117 1,808 2,151 4,076 Fees & Permits 3,288 2,181 24,043 29,512 Insurance - 113,651 80,708 194,359 Materials 39,837 49,435 35,386 124,658 District Activities, Em Recognition 63 - 7 70 Maintenance 20,400 5,555 26,844 52,799 Non-Capital Equipment 3,815 5,195 5,126 14,136 Office Expense 1,086 2,894 1,525 5,505 Professional Services 27,140 46,765 63,639 137,544 Training 1,457 407 2,131 3,995 Travel & Conferences 161 288 382 831 Uncollectible Accounts Collection Agency Fee - Utilities 2,647 2,641 36,285 41,573 Vehicle Equipment 37,154 29,730 21,213 88,097 Supplies & Services Sub-Total 246,126, 375,505 388,577 1,010,208 Depreciation & Amortization 335,889 335,411 336,468 1,007,768 Total Operating Expenses 2,065,657 2,677,819 2,461,125 7,204,601 Operating Income (Loss) (346,516) (1,116,191) (527,703) (1,990,410) Revenue (Non-Operating): Interest 1,749 5,586 5,485 12,820 Interest (Restricted for Capital Projects) 7,293 9,409 9,089 25,791 Property Taxes 0 7,547 37,680 45,227 Debt Service Income (through water revenue) 282,072 249,151 310,783 842,006 Other Non-Operating Revenue 37,541 38,445 35,965 111,951 Total Non-Operating Revenue: 328,655 310,138 399,002 1,037,795 Expenses (Non-Operating): Interest on Long Term Debt 164,197 164,197 164,197 492,591 Other Expense 5,531 4,848 7,140 17,519 Total Non-Operating Expenses: 169,728 169,045 171,337 510,110 Non-Operating Income (Loss) 158,927 141,093 227,665 527,685 Total Income (Loss) (187,589) (975,098) (300,038) (1,462,725) Contributed Capital 25,747 98,753 3,339 127,839 Yorba Linda Water District For the Three Months Ended September 30, 2009 Water Fund % of Annual 1 st Quarter FY 09%10 Annual Budget YTD Budget Amended 1013/09 Revenue (Operating): Water Revenue (Residential) $4,419,610 $17,692,953 25.0% (Restricted for Debt Service) (842,006) - Water Revenue (Commercial & Fire Det.) 435,460 1,680,500 25.9% Water Revenue (Landscape/Irrigation) 1,007,233 3,654,420 27.6% Other Operating Revenue 193,894 583,792 33.2% Total Operating Revenue: 5,214,191 23,611,665 26.8% Expenses (Operating): Variable Water Costs (G.W., Import & Power) 3,789,766 12,259,938 30.9% Salary Related Expenses 1,396,859 6,188,008 22.6% Supplies & Services: Communications 92,651 268,694 34.5% Contractual Services 220,046 964,090 22.8% Data Processing 356 116,148 0.3% Dues & Memberships 4,076 30,068 13.6% Fees & Permits 29,512 50,160 58.8% Insurance 194,359 342,433 56.8% Materials 124,658 427,424 29.2% District Activities, Em Recognition 70 13,832 0.5% Maintenance 52,799 384,362 13.7% Non-Capital Equipment 14,136 139,910 10.1% Office Expense 5,505 66,775 8.2% Professional Services 137,544 760,575 18.1% Training 3,995 61,518 6.5% Travel & Conferences 831 48,892 1.7% Uncollectible Accounts - 47,320 0.0% Collection Agency Fee - 3,185 0.0% Utilities 41,573 27,027 153.8% Vehicle Equipment 88,097 279,683, 31.5% Supplies & Services Sub-Total 1,010,208, 4,072,096 24.8% Depreciation & Amortization 1,007,768 3,945,750 25.5% Total Operating Expenses 7,204,601 26,465,792 27.2% Operating Income (Loss) (1,990,410) (2,854,127) 69.7% Revenue (Non-Operating): Interest 12,820 127,900 10.0% Interest (Restricted for Capital Projects) 25,791 - Property Taxes 45,227 1,092,000 4.1% Debt Service Income (through water revenue) 842,006 - Other Non-Operating Revenue 111,951 105,500 106.1% Total Non-Operating Revenue: 1,037,795 1,325,400 78.3% Expenses (Non-Operating): Interest on Long Term Debt 492,591 1,981,300 24.9% Other Expense 17,519 194,500 9.0% Total Non-Operating Expenses: 510,110 2,175,800 23.40 Non-Operating Income (Loss) 527,685 (850,400) Total Income (Loss) (1,462,725) (3,704,527) 39.5% Contributed Capital 127,839 190,962 66.9% Yorba Linda Water District For the Three Months Ended September 30, 2009 Sewer Fund July August Sept 1st quarter 2009 2009 2009 YTD Revenue (Operating): Sewer Charge Revenue 100,030 98,249 109,164 307,443 Locke Ranch Assessments - 571 551 1,122 Other Operating Revenue 347 261 261 869 Total Operating Revenue: 100,377 99,081 109,976 309,434 Expenses (Operating): Salary Related Expenses 39,159 84,084 59,378 182,621 Supplies & Services: Communications 4,357 3,364 1,651 9,372 Contractual Services 5,947 4,271 7,516 17,734 Data Processing 17 - 18 35 Dues & Memberships 3 179 213 395 Fees & Permits 69 368 1,631 2,068 Insurance - 11,240 7,982 19,222 Materials 1,012 664 866 2,542 District Activities, Emp Recognition 6 - 1 7 Maintenance 1,281 2,965 528 4,774 Non-Capital Equipment 301 133 402 836 Office Expense 90 183 125 398 Professional Services 2,832 4,596 6,294 13,722 Training (144) 280 165 301 Travel & Conferences 16 28 76 120 Uncollectible Accounts - - - - Collection Agency Fee - - - - Utilities 21 22 618 661 Vehicle Equipment 5,144 4,424 923 10,491 Supplies & Services Sub-Total 20,952 32,717 29,009 82,678 Depreciation & Amortization 47,602 47,602 47,602 142,806 Total Operating Expenses 107,713 164,403 135,989 408,105 Operating Income (Loss) (7,336) (65,322) (26,013) (98,671) Revenue (Non-Operating): Interest 863 912 902 2,677 Interest (Restricted for Capital Projects) 149 157 155 461 Property Taxes - - - - Other Non-Operating Revenue 380 623 (60) 943 Total Non-Operating Revenue: 1,392 1,692 997 4,081 Expenses (Non-Operating): Other Expense 214 214 214 642 Total Non-Operating Expenses: 214 214 214 642 Non-Operating Income (Loss) 1,178 1,478 783 3,439 Total Income (Loss) (6,158) (63,844) (25,230) (95,232) Contributed Capital 13,132 18,557 7,116 38,805 Yorba Linda Water District For the Three Months Ended September 30, 2009 Sewer Fund % of Annual 1 st Quarter FY 09/10 Annual Budget YTD Budget Amended 10/13/09 Revenue (Operating): Sewer Charge Revenue 307,443 1,160,000 26.5% Locke Ranch Assessments 1,122 116,000 1.0% Other Operating Revenue 869 3,100 28.0% Total Operating Revenue: 309,434 1,279,100 24.2% Expenses (Operating): Salary Related Expenses 182,621 817,041 22.4% Supplies & Services: Communications 9,372 26,654 35.2% Contractual Services 17,734 137,255 12.9% Data Processing 35 11,487 0.3% Dues & Memberships 395 3,360 11.8% Fees & Permits 2,068 6,040 34.2% Insurance 19,222 33,867 56.8% Materials 2,542 21,301 11.9% District Activities, Emp Recognition 7 1,368 0.5% Maintenance 4,774 29,789 16.0% Non-Capital Equipment 836 18,631 4.5% Office Expense 398 9,550 4.2% Professional Services 13,722 77,925 17.6% Training 301 8,632 3.5% Travel & Conferences 120 6,893 1.7% Uncollectible Accounts - 4,680 0.0% Collection Agency Fee - 315 0.0% Utilities 661 2,673 24.7% Vehicle Equipment 10,491 47,068 22.3% Supplies & Services Sub-Total 82,678 447,488 18.5% Depreciation & Amortization 142,806 595,050 24.0% Total Operating Expenses 408,105 1,859,579 21.9% Operating Income (Loss) (98,671) (580,479) 17.0% Revenue (Non-Operating): Interest 2,677 19,600 13.7% Interest (Restricted for Capital Projects) 461 - Property Taxes - 108,000 0.0% Other Non-Operating Revenue 943 2,000 47.2% Total Non-Operating Revenue: 4,081 129,600 3.1% Expenses (Non-Operating): Other Expense 642 7,300 8.8% Total Non-Operating Expenses: 642 7,300 8.8% Non-Operating Income (Loss) 3,439 122,300 2.8% Total Income (Loss) (95,232) (458,179) 20.8% Contributed Capital 38,805 190,962 20.3% ITEM NO. 2.2 AGENDA REPORT Meeting Date: October 27, 2009 Budgeted: N/A To: Board of Directors 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 July and August 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 Finance-Accounting Committee receive and file the Investment Report for July and August 2009. DISCUSSION: Staff is submitting the July and August 2009 Monthly Investment Reports for your review. PRIOR RELEVANT BOARD ACTION(S): Monthly Investment Reports are presented to the Finance-Accounting Committee on a regular basis. ATTACHMENTS: Invst Rpt 7-091.xls -uly Investments Backup Material Agenda, 10-13 backup-Jul.doc Ally backup Backup Material Invst_Rpt 809.x1s Aug Investments Backup Material Agenda, 10-13 backup-Aug.doc 'ug backup Backup Material Yorba Linda Water District Investment Portfolio Report July 31, 2009 Market % Percent Investment Maturity Value Cost of Total Institution Yield Date Date Cash & Checking Accounts: $ 565,224 $ 565,224 Wells Fargo Bank N/A 1,200 1,200 Imprest Cash $ 566,424 $ 566,424 1.26% Total 0.00% Money Market Accounts: $ 178,594 $ 178,594 Wells Fargo Money Market 0.30% N/A - - Wells Fargo MM/Annexation 0.30% $ 178,594 $ 178,594 0.40% Total 0.30% $ 745,018 $ 745,018 1.66% Sub-total 0.07% California Asset Mgmt. Program: $ 5,692,260 $ 5,692,260 12.65% California Asset Mgmt. Program 0.56% N/A Money Market Account: $ 21,218,790 $ 21,218,790 US Bank 2008 Revenue Bond 0.30% 0 0 US Bank 2003 Revenue Bond 0.00% N/A $ 21,218,790 $ 21,218,790 47.15% 0.30% $ 27,656,068 $ 27,656,068 61.46% Sub Total Investments 0.35% Individual Management Account: $ 17,361,155 $ 17,343,150 38.54% Wells Capital Management 1.02% N/A $ 45,017,223 $ 44,999,218 100% Total Investments 0.61% 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 7/31/2009 Investment Report Summary Below is a chart summarizing the yields as well as terms and maturities for the month of July 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 July 0.35% 0.61% 175 55 Below is a chart comparing operating fund interest for current and prior fiscal years. Actual Interest 07/31/08 07/31/09 Monthly, Operating Fund $ 564 $ 706 Year-to-Date, Operating Fund $ 564 $ 706 Budget 2008/2009 2009/2010 Interest Budget, Operating Fund, July YTD $ 5,375 $ 625 Interest Budget, Operating Fund, Annual $64,500 $7,500 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 07/31/09 Annexation 4,766,712 10.58% Water Operating 360,078 0.80% Water R&R 2,050,646 4.55% Water Capital Projects 231,204 0.51% Restricted for Debt Service 1,735,729 3.85% COP Revenue Bond 2003 0 0.00% COP Revenue Bond 2008 21,218,790 47.10% Sewer Operating 1,465,164 3.25% Sewer R&R 386,640 0.86% Sewer Capital Projects 188,902 0.42% ID1 3,916,921 8.69% D2 8,728,335 19.38% $45,049,121 100.00% Yorba Linda Water District Investment Portfolio Report August 31, 2009 Market % Percent Investment Maturity Value Cost of Total Institution Yield Date Date Cash & Checking Accounts: $ 2,081,897 $ 2,081,897 Wells Fargo Bank N/A 1,200 1,200 Imprest Cash $ 2,083,097 $ 2,083,097 4.72% Total 0.00% Money Market Accounts: $ 178,640 $ 178,640 Wells Fargo Money Market 0.30% N/A - - Wells Fargo MM/Annexation 0.30% $ 178,640 $ 178,640 0.40% Total 0.30% $ 2,261,737 $ 2,261,737 5.12% Sub-total 0.02% California Asset Mgmt. Program: $ 5,094,117 $ 5,094,117 11.54% California Asset Mgmt. Program 0.40% N/A Money Market Account: $ 19,448,948 $ 19,448,948 US Bank 2008 Revenue Bond 0.30% 0 0 US Bank 2003 Revenue Bond 0.00% N/A $ 19,448,948 $ 19,448,948 44.05% 0.30% $ 26,804,802 $ 26,804,802 60.72% Sub Total Investments 0.30% Individual Management Account: $ 17,367,570 $ 17,342,907 39.28% Wells Capital Management 0.82% N/A $ 44,172,372 $ 44,147,709 100% Total Investments 0.50% 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 8/31/2009 Investment Report Summary Below is a chart summarizing the yields as well as terms and maturities for the month of August 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 August 0.30% 0.50% 154 57 Below is a chart comparing operating fund interest for current and prior fiscal years. Actual Interest 08/31/08 08/31/09 Monthly, Operating Fund $ 358 $ 4,472 Year-to-Date, Operating Fund $ 922 $ 5,178 Budget 2008/2009 2009/2010 Interest Budget, Operating Fund, August YTD $10,750 $1,250 Interest Budget, Operating Fund, Annual $64,500 $7,500 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 08/31/09 Annexation 4,771,670 10.79% Water Operating 1,028,545 2.33% Water R&R 2,052,779 4.64% Water Capital Projects 231,204 0.52% Restricted for Debt Service 1,984,881 4.49% COP Revenue Bond 2003 0 0.00% COP Revenue Bond 2008 19,448,948 43.99% Sewer Operating 1,432,678 3.24% Sewer R&R 402,072 0.91% Sewer Capital Projects 189,099 0.43% ID 1 3,926,811 8.88% ID2 8,747,263 19.78% 44.215.950 100.00% ITEM NO. 3.1 AGENDA REPORT Meeting Date: October 27, 2009 Subject: Monthly Portfolio Report for September 2009 ATTACHMENTS: YLWD Overview Sep Pagel.pdf Sep Portfolio Backup Material YLWD_Summary Sep Page2.pdf Sep Portfolio Backup Material YLWD CashFlow Sep Page3.pdf Sep Portfolio Backup Material YLWD Holdings Sep Page4.pdf `lep Portfolio Backup Material Account Overview Yorba Linda Water District Account #18611500 Funding Date: 10/25/2005 Portfolio Statistics as of: 9/30/2009 Account Characteristics: Portfolio Yield to Maturity 0.83% Total Unrealized Gains/(Losses) - Current: 25,885 Total Net Realized Gains/(Losses) - Since Inception: 2,243 Total Long-Term Investments: - Total Short Duration Investments/Money Market Secs: 16,372,221 Total Market Value: 16,372,221 Total Number of Issues in the Portfolio: 23 MARKET DATA Overnight Fed Funds Rate: 0.00% 6-Month T-Bill Yield: 0.17% 12-Month T-Note Yield: 0.39% WELLS CAPITAL MANAGEMENT Portfolio Summary Report For the period : 09/01/09 to 09/30/09 Portfolio Characteristics Market Value: Unrealized G /L: Yield To Maturity: Portfolio Duration: Avg. Days to Maturity: Avg. Portfolio Credit Quality: Market Data Yields: 6 Month Treasury Bill: 2 Year Treasury Note: 5 Year Treasury Note: Fed Funds Target: Credit Quality* Yorba Linda Water District 18611500 Portfolio Breakdown 16,372,221.35 Market Value % of Account 25,884.68 0.35 Agency Discount Note 3,798,260.00 23.20% Aa /AA 8.2% Certs of Deposit 500,000.00 3.05% ° ° Baa /BBB Commercial Paper 3,321,573.98 20.29% 0.33 Years 0.20 Fixed Rate 1,270,155.28 7.76% Not Rated 0.0% Floating Rate 1,326,732.35 8.10% 134 Money Market Fund 3,126,053.14 19.09% Aa1 0.05 Pending_Cash 0.10 0.00% Fitch Ratings - Tertia rY Treasury Obligation 1,020,195.00 6.23% US Agency Fixed Rate 2,009,251.50 12.27% Total 16,372,221.35 100.00% 09/30/09 08/31/09 0.17% 0.22% 0.95% 0.97% 2.31% 2.39% 0-0.25% 0 - 0.25% 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. UAU P1 /MIG1/VMIG1 /A -1 23.3% 0.35 Aaa /AAA 41.7% Aa /AA 8.2% 0.30 A/A 7.7% Baa /BBB 0.0% 0.25 Other 0.0% 0.20 Cash /Overnights 19.1% Not Rated 0.0% 0.15 100.0% 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 Flotivs/Earnings for September 2009 I - Beginning Period Balances As of 8/31/2(109 Total Original Cost 17,332,590 + Net Anort/Accr to Date 10,317 =Adjusted Book Value: 17,342.907 + Accrued Interest Receivable 43,578 + Unrealized Gain/(Loss) 24,662 = Total Market Value Plus Accrued Interest 17,411,148 II: Period Income Earned + Ending Accrual 49,528 - Begininning Accrual (43,578) + Interest Received 8,362 - Interest Paid at Purchase - + Interest Received at Sale - = Interest Earned in Period 14,312 + (Anort)/Accr- This Period (2,038) = Monthly Portfolio Income $ 12,273 + Contributions - - Withdrawals (1,000,000) + Realized Gain/(Loss) - - Fees Paid This Period (2,894) - Prior Period Unrealized Gain/Loss 24,662 + End Of Period Unrealized Gain/Loss 25,885 + Net Receipts/Deliveries in Kind 0.00 + Adjustments 0.00 = Net Change to the Portfolio (1,003,71(1) =Total Market Value Plus Accrued Interest 16,421,749 III: End of Period Balances As of 9/3(1/2(1(19 Total Original Cost 16.341,702 + Net Anort/Accr to Date 4,635 = Adjusted Book Value 16,346,337 + Accrued Interest Receivable 49,528 + Unrealized Gain/(Loss) 25,885 = Total Market Value Plus Accrued Interest 16,421,749 Reconciliation Difference: 0 Wells Capital Management Holdings Report Securities Held as of: 9/30/09 on a Trade Date Basis Identifier Credit Ratings Par Value Security Description Coupon Final Maturity 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 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 0.00 77619EXS4 P -1 A -1+ NR 374,000 ROMULUS FUNDING CORP 0.000 10/26/09 10/26/09 26 0.07 99.971 373,891 373,891 2.28% 0.56% Money Market Fund VP7000038 NR NR NR 3,126,053 WFADV MONEY MKT TR #645 0.225 10/01/09 1 0.00 100.000 3,126,053 3,126,627 19.09% 0.22% Cash & Cash Equivalents Total 3,500,053 4 0.01 3,499,944 3,500,518 21.38% 0.26 II. Marketable Securities (Original maturity greater than 90 days) IIA: Short Term Securities (Remaining maturity of less than 365 days) Certificates of Deposit 25213JBK3 NR NR F -1+ 500,000 DEXIA CREDIT LOCAL SA NY 1.060 01/04/10 01/04/10 96 0.26 100.000 500,000 501,234 3.05% 1.04% Corporate Securities Corporate Obligation Fixed Rate 073928W90 Aa3 A+ AA- 325,000 BEAR STEARNS CO INC 5.850 07/19/10 07/19/10 292 0.79 104.052 338,169 341,971 2.07% 2.30% 285659AE8 A2 A A+ 300,000 ELECTRONIC DATA SYSTEMS 7.125 10/15/09 10/15/09 15 0.04 100.203 300,608 310,465 1.84% 2.12% 617446DX4 A2 A A 300,000 MORGAN STANLEY 8.000 06/15/10 06/15/10 258 0.68 104.275 312,826 319,892 1.91% 1.93 Floating Rate 402479BZ1 A2 A A 325,000 GULF POWER -SR NT 0.383 06/28/10 06/28/10 271 0.25 100.108 325,350 325,361 1.99% 0.38% 89233P3D6 Aal AA NR 500,000 TOYOTA MOTOR CREDIT CORP 1.746 01/29/10 01/29/10 121 0.08 99.998 499,988 501,540 3.05% 1.75% 91159HGP9 Aa3 A+ AA- 500,000 USBANCORP 0.871 05/06/10 05/06/10 218 0.10 100.279 501,395 502,072 3.06% 0.87% Govt Securities Agency Discount Note 3128X8QT2 AGY AGY AGY 1,000,000 FHLMC 1.450 09/10/10 09/10/10 345 0.94 100.831 1,008,314 1,009,160 6.16% 0.78% 3133XU7L1 AGY AGY AGY 1,000,000 FHLB 0.550 07/20/10 07/20/10 293 0.80 100.094 1,000,938 1,002,022 6.11% 0.57% 313313MR6 AGY AGY AGY 1,000,000 FFCB 0.000 10/07/09 10/07/09 7 0.02 100.000 1,000,000 1,000,000 6.11% 2.00% 313385RK4 AGY AGY AGY 800,000 FHLB 0.000 01/05/10 01/05/10 97 0.27 99.970 799,760 799,760 4.88% 0.82% 313385SB3 AGY AGY AGY 1,000,000 FHLB 0.000 01/21/10 01/21/10 113 0.31 99.970 999,700 999,700 6.11% 0.87% 313385WR3 AGY AGY AGY 1,000,000 FHLB 0.000 05/11/10 05/11/10 223 0.61 99.880 998,800 998,800 6.10% 0.55% Treasury Obligation 912828DR8 TSY TSY TSY 1,000,000 UNITED STATES TREASURY 4.000 04/15/10 04/15/10 197 0.53 102.020 1,020,195 1,038,665 6.23% 0.59% Commercial Paper 06737HXM6 P -1 A -1+ NR 450,000 BARCLAYS US FUNDING LLC 0.000 10/21/09 10/21/09 21 0.06 99.985 449,933 449,933 2.75% 0.99% 4497WOZU5 P -1 A -1 NR 500,000 ING (US) FUNDING LLC 0.000 12/28/09 12/28/09 89 0.24 99.929 499,646 499,646 3.05% 0.45% 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: 9/30/09 on a Trade Date Basis Identifier Credit Ratings Par Value Security Description Coupon Final Yorba Linda Water District 472 1.23 318,553 Maturity 1.95% Moody's S &P Fitch 170 18611500 Effective 64105HDG4 P -1 A -1+ F -1+ 500,000 NESTLE CAP CORP DISC P/N 0.000 04/16/10 80281KAF4 P -1 A -1+ F -1+ 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 90467BA69 P -1 A -1 NR 500,000 UNICREDIT DELAWARE INC 0.000 01/06/10 Interest Short Term Securities Total: 12,500,000 04/16/10 198 116: Long -Term Securities (Remaining maturity greater than 365 days) 99.814 499,070 Corporate Securities 3.05% 0.48% 01/15/10 Fixed Rate 0.29 99.912 499,558 499,558 38141GAZ7 Al A A+ 300,000 GOLDMAN SACHS GROUP INC 6.875 01/15/11 99.971 Long Term Securities Total: 300,000 3.05% 0.56% 01/06/10 Marketable Securities Total: 12,800,000 99.925 499,623 499,623 Portfolio Total: 16,300,053 162 01/15/11 472 1.23 106.184 318,553 322,907 1.95% Yorba Linda Water District 472 1.23 318,553 322,907 1.95% 2.45 170 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 04/16/10 198 0.54 99.814 499,070 499,070 3.05% 0.48% 01/15/10 107 0.29 99.912 499,558 499,558 3.05% 0.51 11/20/09 51 0.14 99.971 499,854 499,854 3.05% 0.56% 01/06/10 98 0.27 99.925 499,623 499,623 3.05% 0.76% 162 0.40 12,553,725 12,598,325 76.68% 0.94 01/15/11 472 1.23 106.184 318,553 322,907 1.95% 2.45% 472 1.23 318,553 322,907 1.95% 2.45 170 0.42 12,872,277 12,921,231 78.62% 0.98 134 0.33 16,372,221 16,421,749 100.00% 0.83 The above information is an estimate of certain investment calculations and does not represent your audited statement of record. 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