HomeMy WebLinkAbout2008-11-10 - Finance-Accounting Committee Meeting Agenda Packet•
Yorba Linda
Water District
FINANCE - ACCOUNTING COMMITTEE MEETING
Monday, November 10, 2008, 8:00 a.m.
1717 E. Miraloma Avenue, Placentia - Tel: (714) 701-3020
AGENDA
•
COMMITTEE STAFF
Director Michael J. Beverage, Chair Michael A. Payne, General Manager
Director John W. Summerfield Ken Vecchiarelli, Assistant General Manager
Diane Cyganik, Finance Director
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 action.
Monthly Financial Statements for the first and second months of fiscal year 2008-
09 ending July 31 and August 30, 2008, respectively.
Recommendation: That the Committee review and recommend to the
Board of Directors that the Monthly Financial Statements for July and
August of Fiscal year 2008-09 be received and filed.
•
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.
2. Investment Report ending September 30, 2008.
3. Monthly Portfolio Report ending October 31, 2008. Report by Keith Khorey,
Wells Capital Management.
4. Potential effects of CaIPERS investment loss.
OR c
ADJOURNMENT
The next regularly scheduled meeting of the Finance-Accounting Committee will be held
December 9, 2008 at 4:00 p.m.
Items Distributed to the Committee Less Than 72 Hours Prior to the Meetinq •
Pursuant to Government Code section 54957.5, non-exempt public records that relate to open session agenda items
and are distributed to 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.yiwd.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 Michael A. Payne, General Manager, 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.
•
is
2
ITEM NO.
AGENDA REPORT
• Committee Meeting Date: November 10, 2008
To: Finance-Accounting Committee
From: Ken Vecchiarelli, Assistant General Manager
Staff Contact: Diane Cyganik, Finance Director
Reviewed by General Counsel: N/A Budgeted: N/A Total Budget:
Funding Source: All Funds
CEQA Account No: Job No:
Compliance: N/A Estimated Costs: Dept: Bus
Subject: Financial Statements for the first and second months of fiscal year 2008-09 ending
July 31 and August 31, 2008, respectively.
SUMMARY:
A presentation will be made of the Financial Statements for the first and second months of fiscal
year 2008-09 ending July 31 and August 31, 2008, respectively.
DISCUSSION:
The Water Fund had an Operating Loss for the first month of fiscal year 2008-09 ending July 31,
• 2008 of $535,448. The key factors are outlined below:
Yorba Linda Water District
Monthly Financial Statement Analysis - Water Operating Fund
For the Month Ending July 31, 2008
July
Y-T-D
Y-T-D
Budget
2008
Budget
Budget
Description
FY 2008/00
Actual Y-T-D
Remaining
Remaining
Total Water Sales
$
17,498,010
$
1,747,980
$
(15,750,030)
-90%
Total Variable Water Costs
$
11,156,500
$
1,335,982
$
9,820,518
88%
Personnel Costs
$
7,389,200
$
302,103
$
7,087,097
96%
Supplies & Services
$
3,773,100
$
385,203
$
3,387,897
90%
The Water Operating Fund reflects water sales greater than what was anticipated due to the
water rate increase that was not included in the budget. The variable water costs are 4% higher
than budget because of rate increases from MWDOC and OCWD plus higher energy costs.
Personnel Costs are lower than anticipated due to budgeted positions that have not been filled.
Supplies & Services are approximately 2% higher than budget as of July 31, 2008. The larger
items comprising the variance include: payment of annual contractual services (LAFCO -
$20,809), data processing costs in conjunction with the SCADA control room (17" panel PC and
cabling additions of $11,000), Miraloma Building Dedication (approximately $20,000),
• communication costs (3 Kiosks totaling $4,560), insurance (ACWA property, auto & general of
$76,015), and vehicle expenses (well 18 top end overhaul & well 7 cylinder replacement of
$20,360).
The Sewer Fund had an Operating Loss for the first month of fiscal year 2008-09 ending July
• 31, 2008 of $3,108. The key factors are outlined below:
Yorba Linda Water District
Monthly Financial Statement Analysis - Sewer Operating Fund
For the Month Ending July 31, 2008
July
Y-T-D
Y-T-D
Budget
2008
Budget
Budget
Description
FY 2008109
Actual Y-T-D
Remaining
Remaining
Sewer Maintenance Charges
$ 1,249,850
$ 97,834
$ (1,152,016)
-92%
Personnel Costs
$ 730,800
$ 34,345
$ 696,455
95%
Supplies & Services
$ 339,600
$ 21,896
$ 317,704
94%
The Sewer Maintenance Charges are pretty much right on target as to what was budgeted for at
this point in time. The Personnel Costs as well as the Supplies & Services are slightly lower
than anticipated by 3% and 2%, respectively. However, there aren't any significant material
variances to report.
Financial Statement Overview for August 31, 2008
The Water Fund had an Operating Loss for the second month of fiscal year 2008-09 ending
• August 31, 2008 of $1,172,957. The key factors are outlined below:
Yorba Linda Water District
Monthly Financial Statement Analysis - Water Operating Fund
For the Month Ending August 31, 2008
August
Y-T-D
Y-T-D
Budget
2008
Budget
Budget
Description
FY 2008100
Actual Y-T-D
Remaining
Remaining
Total Water Sales
$
17,498,010
$
3,550,627
$
(13,947,383)
-80%
Total Variable Water Costs
$
11,156,500
$
2,635,932
$
8,520,568
76%
Personnel Costs
$
7,389,200
$
907,235
$
6,481,965
88%
Supplies & Services
$
3,773,100
$
598,422
$
3,174,678
84%
The Water Operating Fund reflects water sales greater than what was anticipated due to the
water rate increase that was not included in the budget. The variable water costs are 7% higher
than budget because of rate increases from MWDOC and OCWD plus higher energy costs.
Personnel Costs are lower than anticipated due to budgeted positions that have not been filled.
Supplies & Services are approximately 1 % higher than budget as of August 31, 2008; however,
nothing is out of the ordinary during this month.
0
The Sewer Fund had an Operating Loss for the second month of fiscal year 2008-09 ending
August 31, 2008 of $37,569. The key factors are outlined below:
•
•
Yorba Linda Water District
Monthly Financial Statement Analysis - Sewer Operating Fund
For the Month Ending August 31, 2008
August
Y-T-D
Y-T-D
Budget
2008
Budget
Budget
Description
FY 2008109
Actual Y-T-D
Remaining
Remaining
Sewer Maintenance Charges
$ 1,249,850
$ 197,475
$ (1,052,375)
-84%
Personnel Costs
$ 730,800
$ 104,675
$ 626,125
86%
Supplies & Services
$ 339,600
$ 40,965
$ 298,635
88%
The Sewer Maintenance Charges are pretty much right on target as to what was budgeted for at
this point in time. The Personnel Costs as well as the Supplies & Services are slightly lower
than anticipated by 3% and 5%, respectively. However, there aren't any significant material
variances to report on Personnel and Supplies & Services.
PRIOR RELEVANT BOARD ACTION(S):
The Board of Directors reviews each quarter's financial statements. The audited financial
statements for the fiscal year ended June 30, 2008 were received and filed on October 28,
2008.
STAFF RECOMMENDATION:
That the Committee recommend the Board of Directors receive and file the financial statements
for the first and second months of fiscal year 2008-09 ending July 31 and August 31, 2008,
respectively.
40
• • •
Fund 1
Schedule of Revenue & Expense
7/31/2008
ANNUAL CURR YR VARIANCE VAR
BUDGET Y-T-D Y-T-D %
Operating Revenues:
Metered water sales 17,040,410.00 1,918,220.49 15,122,189.51 89%
Sewer maintenance charges 0.00 0.00 0.00 0%
Construction water sales 355,000.00 28,022.62 326,977.38 92%
Irrigation sales 45,600.00 8,617.02 36,982.98 81%
Other 13,490.00 10,481.77 3,008.23 22%
Customer service fees 124,600.00 16,066.84 108,533.16 87%
Rents and royalties 99,100.00 41556.16 94,543.84 95%
Outside District water sales 50,000.00 3,868.78 46,131.22 92%
Unmetered water sales 7,000.00 885.10 6,114.90 87%
To:Restricted for Debt Sery"" 0.00 (211,633.84) 211,633.84 -100%
Total Operating Revenues 17,735,200.00 1,779,084.94 15,956,115.06 90%
Operating Expenses:
Variable water costs 11,156,500.00 1,335,981.98 9,820,518.02 88%
Personnel services 7,389,200.00 302,102.71 7,087,097.29 96%
Depreciation 0.00 291,245.57 (291,245.57) -100%
Supplies and services 3,773,100.00 385,202.74 3,387,897.26 90%
Total Operating Expenses 22,318,800.00 2,314,533.00 20,004,267.00 90%
Operating (Loss) (4,583,600.00) (535,448.06) (4,048,151.94) 88%
Nonoperating Revenues:
Property taxes -debt service 0.00 0.00 0.00 -100%
Property taxes - operations 1,200,150.00 0.00 1,200,150.00 100%
Interest income 47,500.00 17,655.01 29,844.99 63%
Other revenue 449,200.00 61,424.14 387,775.86 86%
Rev Restricted for Debt Sery 0.00 211,633.84 (211,633.84) -100%
Total Nonoperating Revenues 1,696,850.00 290,712.99 1,406,137.01 83%
Nonoperating expenses:
Interest expense 0.00 191,038.91 (191,038.91) -100%
Security Vulnerability Exp 0.00 0.00 0.00 0%
Other expense 0.00 10,185.43 (10,185.43) -100%
Total Nonoperating Expenses 0.00 201,224.34 (201,224.34) -100%
• • •
Fund 1
Schedule of Revenue & Expense
7/31/2008
ANNUAL CURR YR VARIANCE VAR
BUDGET Y-T-D Y-T-D %
Income (Loss) before
Capital Contributions (2,886,750.00) (445,959.41) (2,440,790.59) 85%
Capital Contributions 667,100.00 17,915.00 649,185.00 97%
Change in Net Assets: (2,219,650.00) (428,044.41) (1,791,605.59) 81%
• FA •
Schedule of Revenue & Expense
07-31-08
ANNUAL CURR YR VARIANCE VAR
BUDGET Y-T-D Y-T-D $
Operating Revenues:
Metered water sales 0.00 0.00 0.00 -100
Sewer maintenance charges 1,246,550.00 97,573.45 1,148,976.55 92
Construction water sales 0.00 0.00 0.00 -100
Irrigation sales 0.00 0.00 0.00 -100
Other 3,300.00 261.00 3,039.00 92
Customer service fees 0.00 0.00 0.00 -100
Rents and royalties 0.00 0.00 0.00 -100
Outside District water sales 0.00 0.00 0.00 -100
Unmetered water sales 0.00 0.00 0.00 -100
To:"Restricted for Debt Serv" 0.00 0.00 0.00 -100
Total Operating Revenues 1,249,850.00 97,834.45 1,152,015.55 92
Operating Expenses:
Variable water costs 0.00 0.00 0.00 -100
Personnel services 730,800.00 34,344.93 696,455.07 95
Depreciation 0.00 44,701.85 <44,701.85> -100
Supplies and services 339,600.00 21,895.61 317,704.39 94
Total Operating Expenses 1,070,400.00 100,942.39 969,457.61 91
Operating (Loss) 179,450.00 <3,107.94> 182,557.94 101
•
FU02
•
Schedule
of Revenue & Expense
07-31-08
ANNUAL
CURR YR
VARIANCE
VAR
BUDGET
Y-T-D
Y-T-D
%
Nonoperating Revenues:
------------------
Property taxes - debt service
0.00
0.00
0.00
-100
Property taxes - operations
66,000.00
0.00
66,000.00
100
Interest income
17,000.00
759.99
16,240.01
96
Other revenue
5,000.00
845.24
4,154.76
83
Rev Restricted for Debt Sery
0.00
0.00
0.00
-100
Total Nonoperating Revenues
88,000.00
1,605.23
86,394.77
98
Nonoperating expenses:
Interest expense
0.00
0.00
0.00
-100
Security Vulnerability Exp
0.00
0.00
0.00
-100
Other expense
0.00
80.48
<80.48>
-100
Total Nonoperating Expenses
0.00
80.48
<80.48>
-100
Income (Loss) before
Capital Contributions
267,450.00
<1,583.19>
269,033.19
100
Capital Contributions
251,000.00
0.00
251,000.00
100
Change in Net Assets:
518,450.00
<1,583.19>
251,000.00
100
RUN DATE/TIME: 17:49:29 03 Nov 2008
REPORT ID: revexp07
• Fund 1 • •
Schedule of Revenue & Expense
8/3112008
ANNUAL CURR YR VARIANCE VAR
BUDGET Y-T-D Y-T-D %
Operating Revenues:
Metered water sales 17,040,410.00 3,982,315.78 13,058,094.22 77%
Sewer maintenance charges 0.00 0.00 0.00 0%
Construction water sales 355,000.00 74,824.60 280,175.40 79%
Irrigation sales 45,600.00 13,926.12 31,673.88 69%
Other 13,490.00 14,770.33 (1,280.33) -9%
Customer service fees 124,600.00 32,641.82 91,958.18 74%
Rents and royalties 99,100.00 4,556.16 94,543.84 95%
Outside District water sales 50,000.00 8,613.47 41,386.53 83%
Unmetered water sales 7,000.00 1,803.60 5,196.40 74%
To:Restricted for Debt Sery"" 0.00 (582,824.60) 582,824.60 -100%
Total Operating Revenues 17,735,200.00 3,550,627.28 14,184,572.72 80%
Operating Expenses:
Variable water costs 11,156,500.00 2,635,932.18 8,520,567.82 76%
Personnel services 7,389,200.00 907,234.67 6,481,965.33 88%
Depreciation 0.00 581,995.39 (581,995.39) -100%
Supplies and services 3,773,100.00 598,422.22 3,174,677.78 84%
Total Operating Expenses 22,318,800.00 4,723,584.46 17,595,215.54 79%
Operating (Loss) (4,583,600.00) (1,172,957.18) (3,410,642.82) 74%
Nonoperating Revenues:
Property taxes -debt service 0.00 0.00 0.00 0%
Property taxes - operations 1,200,150.00 10,347.44 1,189,802.56 99%
I nterest income 47,500.00 76,29149 (28,793.49) -61%
Other revenue 449,200.00 108,545.66 340,654.34 76%
Rev Restricted for Debt Sery 0.00 582,824.60 (582,824.60) -100%
Total Nonoperating Revenues 1,696,850.00 778,011.19 918,838.81 54%
Nonoperating expenses:
Interest expense 0.00 382,077.82 (382,077.82) -100%
Security Vulnerability Exp 0.00 0.00 0.00 -100%
Other expense 0.00 15,050.30 (15,050.30) -100%
Total Nonoperating Expenses 0.00 397,128.12 (397,128.12) -100%
Fund 1
Schedule of Revenue& Expense
8/31/2008
ANNUAL CURR YR VARIANCE VAR
BUDGET Y-T-D Y-T-D %
Income(Loss) before
Capital Contributions (2,886,750.00) (792,074.11) (2,094,675.89) 73%
Capital Contributions 667,100.00 249,482.00 417,618.00 63%
Change in Net Assets: (2,219,650.00) (542,592.11) (1,677,057.89) 76%
• FUNO •
Schedule of Revenue & Expense
08-31-08
ANNUAL CURR YR VARIANCE VAR
BUDGET Y-T-D Y-T-D o
Operating Revenues:
Metered water sales 0.00 0.00 0.00 -100
Sewer maintenance charges 1,246,550.00 196,952.59 1,049,597.41 84
Construction water sales 0.00 0.00 0.00 -100
Irrigation sales 0.00 0.00 0.00 -100
Other 3,300.00 522.00 2,778.00 84
Customer service fees 0.00 0.00 0.00 -100
Rents and royalties 0.00 0.00 0.00 -100
Outside District water sales 0.00 0.00 0.00 -100
Unmetered water sales 0.00 0.00 0.00 -100
To:"Restricted for Debt Serv" 0.00 0.00 0.00 -100
Total Operating Revenues 1,249,850.00 197,474.59 1,052,375.41 84
Operating Expenses:
Variable water costs 0.00 0.00 0.00 -100
Personnel services 730,800.00 104,674.72 626,125.28 86
Depreciation 0.00 89,403.70 <89,403.70> -100
Supplies and services 339,600.00 40,965.28 298,634.72 88
Total Operating Expenses 1,070,400.00 235,043.70 835,356.30 78
Operating (Loss) 179,450.00 <37,569.11> 217,019.11 120
i
• I
• FUND •
Schedule of Revenue & Expense
08-31-08
ANNUAL CURR YR VARIANCE VAR
BUDGET Y-T-D Y-T-D a
-----------------------
Nonoperating Revenues:
Property taxes - debt service 0.00 0.00 0.00 -100
Property taxes - operations 66,000.00 0.00 66,000.00 100
Interest income 17,000.00 1,338.46 15,661.54 92
Other revenue 5,000.00 1,357.47 3,642.53 73
Rev Restricted for Debt Sery 0.00 0.00 0.00 -100
Total Nonoperating Revenues 88,000.00 2,695.93 85,304.07 97
Nonoperating expenses:
Interest expense 0.00 0.00 0.00 -100
Security Vulnerability Exp 0.00 0.00 0.00 -100
Other expense 0.00 160.11 <160.11> -100
Total Nonoperating Expenses 0.00 160.11 <160.11> -100
Income (Loss) before
Capital Contributions 267,450.00 <35,033.29> 302,483.29 112
Capital Contributions 251,000.00 4,680.00 246,320.00 98
Change in Net Assets: 518,450.00 <30,353.29> 246,320.00 105
RUN DATE/TIME: 17:15:58 05 Nov 2008 REPORT ID: revexp07
ITEM NO. a2-
AGENDA REPORT
• Committee Meeting Date: November 10, 2008
To: Finance-Accounting Committee
From: Ken Vecchiarelli, Assistant 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 September 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 September 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
September 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
September 1.63%
2.17%
62
19
Below is a chart comparing operating fund interest for current and prior fiscal years:
Actual Interest
Monthly, Operating Fund
Year-to-Date, Operating Fund
09/30/07 09/30/08
$ 910 $ 1,003
$12,789 $ 1,925
Budget 2007/2008 2008/2009
• Interest Budget, Operating Fund, September YTD $21,500 $16,125
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
09/30/08
Annexation Fund
$9,405,709
17.86%
Water Fund
(3,914,756)
-7.43%
Water R&R Operating Reserve
2,019,692
3.84%
Water Reserve for Capital Projects
149,500
0.28%
Water Restricted for 2008 Debt Service
300,283
0.57%
2003 Bond Fund
446,064
0.85%
2008 Bond Fund
28,797,409
54.69%
Sewer Fund
1,248,777
2.37%
Sewer R&R Operating Reserve
214,165
0.41%
Sewer Reserve for Capital Projects
186,051
0.35%
Imp. Dist. No. 1
4,246,507
8.06%
Imp. Dist. No. 2
9.557.477
18.15%
$52.656.878
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
• Market
Value Cost
Cash & Checking Accounts:
$ 327,529 $ 327,529
1,200 1,200
$ 328,729 $ 328,729
Yorba Linda Water District
Investment Portfolio Report
September 30, 2008
of Total Institution
Wells Fargo Bank
Imprest Cash
0.62% Total
Percent Investment Maturity
Yield Date Date
0.00%
Money Market Accounts:
$ 71,463 $ 71,463 Wells Fargo Money Market 0.33%
48,971 48,971 Wells Fargo MM/Annexation 0.33%
$ 120,434 $ 120,434 0.23% Total 0.33%
$ 449,163 $ 449,163 0.85% Sub-total
California Asset Mgmt. Program:
$ 6,625,586
$
6,625,586 12.58%
Money Market Account:
$ 27,491,824
•
$
27,491,824
$ 1,305,585
$
1,305,585
446,064
446,064
$ 29,243,473
$
29,243,473 55.55%
$ 36,318,222
$
36,318,222 68.98%
Individual Management Account:
$ 16,317,121 $ 16,335,497 31.02%
0.09%
California Asset Mgmt. Program 2.57%
N/A
N/A
N/A
US Bank 2008 Revenue Bond 1.51%
US Bank 2008 Revenue Bond 0.34%
US Bank 2003 Revenue Bond 0.27% N/A
1.44%
Sub Total Investments 1.63%
Wells Capital Management 3.39% N/A
$ 52,635,343 $ 52,653,719 100% Total Investments
2.17%
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.
`%Axdk; V" 646p,~
Sandi Van Etten, Senior Accountant
9/30/2008
ITEM NO. ?
0 Account Overview
Yorba Linda Water District
Account #18611500
Funding Date: 10/25/2005
Portfolio Statistics as of: 10/31/2008
Account Characteristics:
Portfolio Yield to Maturity 2.62%
Total Unrealized Gains/(Losses) - Current: 15,014
• Total Net Realized Gains/(Losses) - Since Inception: 496
Total Long-Term Investments:
Total Short Duration Investments/Money Market Secs: 16,384,520
Total Market Value: 16,384,520
Total Number of Issues in the Portfolio: 13
MARKET DATA
Overnight Fed Funds Rate: 1.00%
6-Month T-Bill Yield: 0.95%
12-Month T-Note Yield: 1.32%
WELLS CAPITAL MANAGEMENT
Portfoolulmmary Report Yorba WWater District
For the period: 10/01/08 to 10/31/08 18611500
Portfolio Characteristics Portfolio Breakdown
Market Value: 16,384,520.19 Market Value %of Account
Unrealized G/L: 15,014.21 Agency Discount Note 4,433,420.00 27.06%
Commercial Paper 2,546,255.60 15.54%
Yield To Maturity: 2.62% Floating Rate 649,260.30 3.96%
Portfolio Duration: 0.18 Years Money Market Fund 8,755,584.22 53.44%
Pending_Cash 0.07 0.00%
Avg. Days to Maturity: 66 Total 16,384,520.19 100.00%
Avg. Portfolio Credit Quality: Aa1
Market Data 10/31108 09/30/08
Yields.
6 Month Treasury Bill: 0.95% 1.61%
2 Year Treasury Note: 1.56% 1.96%
5 Year Treasury Note: 2.83% 2.98%
Fed Funds Target: 1.00% 2.00%
Credit Quality* Effective Maturity Distribution
0.60 - - -
P1/MIG1NMIG1/A-1 15.5%
Aaa/AAA 27.1% 0.50 - -- - - - - _-
Aa/AA 0.0%
A/A 4.0% 0.40
Baa/BBB 0.0%
Other 0.0% 0.30
Cash/Overnights 53.4%
Not Rated 0.0%
100.0% 0.20
0.10 -
*Moody's Ratings-Primary -
S&P Ratings-Secondary
Fitch Ratings-Tertiary o.00
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 DIS'T'RICT
•
Statement of Cash Flows/Earnings for October 2008
I - Beginning Period Balances
As of 9/30/2008
Total Original Cost
16,310,767
+ Net Amort/Accr to Date
24,730
=Adjusted Book Value:
16,335,497
+ Accrued Interest Receivable
21,534
+ Unrealized Gain/(Loss)
(18,376)
= Total Market Value Plus Accrued Interest
16,338,655
II: Period Income Earned
+ Ending Accrual
20,975
- Begininning Accrual
(21,534)
+ Interest Received
24,311
- Interest Paid at Purchase
-
+ Interest Received at Sale
-
= Interest Earned in Period
23,7511
+ (Amort)/Accr This Period
15,736
= Monthly Portfolio Income I
$ 39,4871
+ Contributions
-
•
- Withdrawals
(3,232)
+ Realized Gain/(Loss)
- Fees Paid This Period
(2,806)
- Prior Period Unrealized Gain/Loss
(18,376)
+ End Of Period Unrealized Gain/Loss
15,014
+ Net Receipts/Deliveries in Kind
0.00
+ Adjustments
0.00
= Net Change to the Portfolio
43,0891
=Total Market Value Plus Accrued
Interest
16,405,495
III: End of Period Balances
As of 10/31/2008
Total Original Cost
16,340,761
+ Net Amort/Accr to Date
28,745
= Adjusted Book Value
16,369,506
+ Accrued Interest Receivable
20,975
+ Unrealized Gain/(Loss)
15,014
= Total Market Value Plus Accrued
Interest
16,405,495
•
Reconciliation Difference:
-
Wells Capital Management
Holdin�port • Yorba Linter District
Securities He7�as of 10/31/08 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
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
Commercial Paper
70017GL30 P-1 A-1 NR 500,000 PARK AVENUE RECEIVABLES 0.000 11/03/08 11/03/08 3 0.01 100.000 500,000 500,000 3.05% 2.67%
88324LLR6 P-1 A-1 NR 450.000 THAMES ASSET GLOBAL SEC CF 0.000 11/25/06 11/25/08 25 0.07 99.823 449,203 449,203 2.74% 4.59%
88602TLL5 P-1 A-1 NR 450,000 THUNDER BAY FUNDING INC 0.000 11/20/08 11/20/08 20 0.05 99.870 449,416 449,416 2.74% 3.87%
92217LL56 P-1 A-1+ NR 450,000 VARIABLE FUNDING CAPITAL 0.000 11/05/08 11/05/08 5 0.01 99.987 449,943 449,943 2.75% 2.82%
Money Market Fund
VP7000038 NR NR NR 8,755,584 VJFADV MONEY MKT TR#645 2.116 11/01/08 1 0.00 100.000 8,755,584 8,775,721 53.44% 2.12%
Cash&Cash Equivalents Total 10,605,584 3 0.01 10,604,146 10,624,282 64.72% 2.35%
II.Marketable Securities(Original maturity greater than 90 days)
//A:Short Term Securities(Remaining maturity of less than 365 days)
Corporate Securities
Corporate Obligation
Floating Rate
617446AB2 Al A+ A 650,000 MORGAN STANLEY 4.221 11/21/08 11/21/08 21 0.06 99.886 649,260 650,099 3.96% 4.22%
Govt Securities
Gov Agncy Obligation
Money Mkt Securities
Agency Discount Note
313385EP7 AGY AGY AGY 1,000,000 FHLB 0.000 04/20/09 04/20/09 171 0.46 98.940 989,400 989,400 6.04% 3.04%
313385JB3 AGY AGY AGY 800,000 FHLB 0.000 07/13/09 07/13/09 255 0.69 98.290 786,320 786,320 4.80% 2.99%
313385KS4 AGY AGY AGY 1,000,000 FHLB 0.000 08/21/09 08/21/09 294 0.80 97.940 979,400 979,400 5.98% 3.02%
313589FH1 AGY AGY AGY 700,000 FNMA 0.000 05/08/09 05/08/09 189 0.51 98.800 691,600 691,600 4.22% 2.98%
313589GE7 AGY AGY AGY 1,000,000 FNMA 0.000 05/29/09 05/29/09 210 0.57 98.670 986,700 986,700 6.02% 2.91%
Commercial Paper
06737HM55 P-1 A-1+ NR 500,000 BARCLAYS US FUNDING LLC 0.000 12/05/08 12/05/08 35 0.09 99.812 499,062 499,062 3.05% 2.86%
6323AONP9 P-1 A-1+ NR 200,000 NATEXIS BANQUES POP USF CPI 0.000 01/23/09 01/23/09 84 0.23 99.316 198,632 198,632 1.21% 3.08%
Short Term Securities Total 5,850,000 180 0.49 5,780,375 5,781,213 35.28% 3.12%
118:Long-Term Securities(Remaining maturity greater than 365 days)
Corporate Securities
Marketable Securities Total 5,850,000 180 0.49 5,780,375 5,781,213 35.28% 3.12%
16,455,584 66 0.18 16,384,520 16,405,495 100.00% 2.62%
The above information is an estimate of certain investment calculations and does not represent your audited statement of record. Page: 1 of 1