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Home My WebLink About1999-06-09FILED IN THE OFFIC!:: OF THE SECRETARY ORANGE COUNTY !iJ\M!TAl'ION DISTRICT JUN 2 3 1999 REVISED & AMENDED /J~K,_ BY ____ M~Nl:JTES OF FINANCE. ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, June 9, 1999, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on June 9, 1999 at 5:00 p.m., in the District's Administrative Office. (1) The roll was called and a quorum declared present, as follows: (2) FAHR COMMITTEE MEMBERS: OTHERS PRESENT: Directors Present: Thomas Saltarelli, Chair Mark Leyes, Vice Chair Shawn Boyd John M. Gullixson Shirley McCracken Mark A Murphy James W. Silva Peer Swan, Board Vice Chair John J. Collins, Past Board Chair Directors Absent: Jan Debay, Board Chair APPOINTMENT OF CHAIR PRO TEM Thomas Woodruff, General Counsel Director Pat McGuigan Toby Weissert, Carollo Engineers Michael Morris, Legacy Partners Don Hughes Ryal Wheeler STAFF PRESENT: Don McIntyre, General Manager Blake Anderson, Assistant General Manager Mike Peterman, Director of Human Resources Gary Streed, Director of Finance Michelle Tuchman, Director of Communications Bob Ooten, Director of Operations & Maintenance Greg Mathews, Assistant to the General Manager Mike White, Controller Lisa Tomko, Human Resources Manager Marc Dubois, Purchasing Manager Ed Torres, Air Quality & Special Projects Manager Penny Kyle, Committee Secretary No appointment was necessary. OCSD • P.O. Box 8127 • Fountain Valley, CA 92728-8127 • (714) 962-2411 Minutes of the Finance, Administration and Human Resources Committee Meeting Page 2 June 9, 1999 (3) PUBLIC COMMENTS Michael Morris of Legacy Partners spoke to the Directors regarding Agenda Item No. 13(c) on the published Agenda, to request a refund of connection fees paid between December 1998 and May 1999. He stated that higher fees have been paid than those reflected in the new, proposed Capital Facilities Capacity Charge Ordinance. It was then moved, seconded and duly carried to consider Agenda Item No. 13(c) at this time. The Directors entered into a discussion, asking questions of staff and General Counsel. (13) C. FAHR99-45: 1) Receive and file letter dated May 12, 1999 from Legacy Partners, requesting a partial refund of capital facilities capacity charge rates for three parcels paid in December 1998 and January 1999, and a partial refund of capital facilities capacity charge rates for two parcels to be paid prior to the effective date of District's proposed ordinance for capital facilities capacity charge rates, in the amount of $183,896.00; 2) Deny request for partial refund of capital facilities capacity charge rates for three parcels/permits paid in December 1998 and January 1999; 3) Approve request to grant fee reduction for two parcels/permits to be paid prior to the effective date of District's proposed ordinance for capital facilities capacity charge rates. Motion: Moved, seconded, and duly carried to recommend to the Board the suspension of those rates currently in effect pursuant to District Ordinance No. OCSD-04, and recommend implementing the new lower rates, as proposed by District Ordinance No. OCSD-09. Said suspension to be effective July 24, 1999. Motion: Moved, seconded, and duly carried to recommend to the Board the denial of the request for partial refund of capital facilities capacity charges for those parcels issued building permits prior to April 10, 1999; and recommend approval of the request to apply the lower rates, as proposed by District Ordinance No. OCSD-09, to those parcels issued building permits between April 10, 1999 and June 23, 1999; provided a single project requires multiple permits, and some permits were issued before April 10, 1999, and other permits for the same project were issued after April 10, 1999. Director Shirley McCracken opposed. (4) RECEIVE, FILE AND APPROVE MINUTES OF PREVIOUS MEETING It was moved, seconded and duly carried to approve the minutes of the May 12, 1999 Finance, Administration and Human Resources Committee meeting. Director John Gullixson abstained. (5) REPORT OF THE COMMITTEE CHAIR The Committee Chair had no report. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 June 9, 1999 (6) REPORT OF THE GENERAL MANAGER The General Manager reported that the $1 .8 million bond issue regarding water issues, including funds for reclamation and watershed management, continues to move through committee and is targeted for the March 2000 ballot. Mr. McIntyre will keep Directors informed as the bill moves along. (7) REPORT OF ASSISTANT GENERAL MANAGER Mr. Anderson reported that the investigation had been completed by the Regional Water Quality Control Board into the July 1998 Newport Beach sewer spill. It was determined by the Regional Board staff that the District was at fault and a $50,000 fine would be imposed, of which $40,000 could be met by implementing an environmental enhancement project. (8) REPORT OF DIRECTOR OF FINANCE The Director of Finance briefly reported on items listed on the Consent Calendar. Mr. Streed also announced that he had received notice that the District received the Government Finance Officers Association award for last year's budget. It was also reported that the required notice for the public hearing and proposed connection fee structure change was mailed to over 26,000 vacant parcels. (9) REPORT OF DIRECTOR OF HUMAN RESOURCES The Director of Human Resources briefly reported on a grievance which had been filed by an employee and would be going to the Board this month. (10) REPORT OF DIRECTOR OF COMMUNICATIONS The Director of Communications, Michelle Tuchman, reminded the Directors of the Strategic Plan Workshop to be held on June 19, 1999 to review the EIR. Distribution of this EIR is scheduled for June 29th. A public hearing will need to be scheduled for this EIR. After discussion among the Directors, it was recommended that the hearing be held during the Board meeting scheduled for July 21, 1999. Since there will be two public hearings for that evening, it was suggested that the Board Meeting begin at 6:30 p.m. for this meeting only, and the hearings be scheduled at 7:00 p.m. and at 8:00 p.m. (11) REPORT OF GENERAL COUNSEL Mr. Woodruff advised the Committee of a need to add three items re litigation to the Closed Session Agenda, each of which arose subsequent to the posting of the agenda. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 4 June 9, 1999 (12) CONSENT CALENDAR ITEMS (Items A-F) Motion: A. FAHR99-38: Receive and file Treasurer's Report for the month of May 1999: The Treasurer's Report was handed out at the FAHR Committee meeting in accordance with the Board-approved Investment Policy, and in conformance to the Government Code requirement to have monthly reports reviewed within 30 days of month end. B. FAHR99-39: Receive and file Certificates of Participation (COP) Monthly Report. C. FAHR99-40: Receive and file Employment Status Report as of May 19, 1999. D. FAH R99-41: Receive and file 1999/00 Strategic Goals Workplans E. FAHR99-42: Renew the District's All-Risk Property and Earthquake Insurance Program for the period June 25, 1999 to May 15, 2000, in an amount not to exceed $890,250. F. FAHR99-50: 1) Award contracts for Temporary Employment Services (Specification No. P-186) to the following support staffing firms for a period of one year, renewable for a period of four years, and cancelable at any time, for a total amount not to exceed $1 million: General Agency • Apple One Technical Agencies • Principal Technical Services, Inc. -Engineering and IT Personnel • EPC Consultants, Inc. -Engineering Personnel • DOB Engineering, Inc. -Engineering Personnel • Two Roads Professional Resources, Inc. -Engineering Personnel • Project Partners -Engineering Personnel • Tek Systems -IT Personnel • Lab Support -Laboratory personnel 2) Authorize staff to enter into additional agreements with other temporary firms, as they become known to District's staff, provided it is within budget guidelines. END OF CONSENT CALENDAR Moved, seconded and duly carried to approve the recommended actions for items specified as 12(A) through 12(F) under Consent Calendar. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 5 June 9, 1999 (13) ACTION ITEMS (Items A-F) A. FAHR99-43: Approve agreement with Irvine Ranch Water District (IRWD) in connection with transferring assets and service responsibility for Park Place (Michelson Station) Service Area to IRWD, at no additional cost to the District. This item was removed from the agenda by staff without discussion or action. B. FAHR99-44: Adopt ResoJution No. OCSD 99-_, Establishing Sanitary Sewer Service Charges for FY 1999-2000. Motion: Moved, seconded and duly carried to approve staffs recommendation, amending the Resolution to use adopted rates for Revenue Area 1 rather than the proposed rates. Directors John Gullixson, Shirley McCracken and Mark Leyes opposed. D. FAHR99-46: Adopt Resolution No. OCSD 99-_, Establishing Policies and Procedures for the Award of Purchase Orders and Contracts; Award of Public Works Project Contracts; Award of Professional Services Contracts; Delegation of Authority to Implement Said Policies and Procedures; and Repealing Resolutions Nos. OCSD 98-8, OCSD 98-12, OCSD 98-22, and OCSD 98-43. Motion: Moved, seconded and duly carried to continue this item to the July 14th FAHR meeting. E. FAHR99-47: Approve proposed Operating, Capital, DebUCOP Service and Self- Insurance Budgets for 1999-00, as follows: Joint Works Operating/Working Capital Worker's Compensation Self-Insurance Public Liability Self-Insurance Joint Works Capital Outlay Revolving Collection System Operating Collection System Capital Improvement DebUCOP Service $44,000,000 330,000 792,000 68,771,000 9,356,500 23,629,000 41,690,000 Motion: Moved, seconded and duly carried to approve staffs recommendation. Director John Gullixson opposed. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 6 June 9, 1999 F. FAHR99-48: 1) Recommend that the Board adopt, in concept, Resolution No. OCSD 99-_, Adopting Rules and Regulations for Employer-Employee Relations and Repealing Resolution No. OCSD 98-34; and 2) Direct the Director of Human Resources to meet and consult with affected employee organizations and return to the Board for final adoption with any recommended modifications. Motion: Moved, seconded and duly carried to approve staffs recommendation. (14) INFORMATION PRESENTATIONS There were none (15) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY There was no other business discussed. (16) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT There were none. (17) MATTERS WHICH A DIRECTOR WOULD LIKE STAFF TO REPORT ON AT A SUBSEQUENT MEETING There were none. (18) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled for July 14, 1999 at 5:00 p.m. (19) CLOSED SESSION The Chair reported to the Committee the need for a Closed Session, as authorized by Government Code Section 54957 .6, to discuss and consider the item that is specified as Item 19(A)(1) on the published Agenda. General Counsel also indicated a need to add three items needing immediate attention that arose subsequent to the publication of the Agenda. He reported thaJ additional items could be added pursuant to Government Code Section 54954.2(b) upon a two-thirds vote of the Committee. No other items would be discussed or acted upon. It was moved, seconded and unanimously carried that pending litigation matters entitled Sangermano v. County Sanitation Districts, OCSC Case No. 732680, County Sanitation District No. 3 v. United Technologies Corporation, et al., OCSC Case No. 722816, and Deese v. County Minutes of the Finance, Administration and Human Resources Committee Meeting Page 7 June 9, 1999 Sanitation Districts, et al., OCSC Case No. 786591, be added to the Agenda for discussion and action as Agenda Items Nos. 19(A)(2), 19(A)(3), and 19(A)(4). The Committee convened in closed session at 7:48 p.m., pursuant to Government Code Sections 54957.6 and 54956.9. Confidential Minutes of the Closed Session held by the Finance, Administration and Human Resources Committee have been prepared in accordance with California Government Code Section 54957.2, and are maintained by the Board Secretary in the Official Book of Confidential Minutes of Board and Committee Closed Meetings. No reportable actions were taken re Agenda Items Nos. 19(A)(1), (2), (3), and (4). RECONVENE IN REGULAR SESSION At 8:33 p.m., the Committee reconvened in regular session. (20) ADJOURNMENT The Chair declared the meeting adjourned at approximately 8:33 p.m. Submitted by: \\radon'dala 1 \wp.dla\sgenda\FAHR\Fahr99\99mins\060999 MIN.doc AGENDA REGULAR MEETING OF THE FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, JUNE 9, 1999, AT 5:00 P.M. ADMINISTRATiVE OFFICE 10844 Ellis Avenue Fountain Valley, California 92708 In accordance with the requirements of California Government Code Section 54954.2, this agenda has been posted in the main lobby of the District's Administrative Offices not less than 72 hours prior to the meeting date and time above. All written materials relating to each agenda item are available for public inspection in the Office of the Board Secretary. In the event any matter not listed on this agenda is proposed to be submitted to the Committee for discussion and/or action, it will be done in compliance with Section 54954.2(b) as an emergency item or that there is a need to take immediate action which need came to the attention of the Committee subsequent to the posting of the agenda, or as set forth on a supplemental agenda posted in the manner as above, not less than 72 hours prior to the meeting date. (1) ROLL CALL (2) APPOINTMENT OF CHAIR PRO TEM, IF NECESSARY (3) PUBLIC COMMENTS All persons wishing to address the Finance, Administration and Human Resources Committee on specific agenda items or matters of general interest should do so at this time. As determined by the Chair, speakers may be deferred until the specific item is taken for discussion and remarks may be limited to five minutes. Matters of interest addressed by a member of the public and not listed on this agenda cannot have action taken by the Committee except as authorized by Section 54954.2(b). June 9, 1999 (4) APPROVE MINUTES OF PREVIOUS MEETING Approve draft minutes of the May 12, 1999, Finance, Administration and Human Resources Committee meeting. (5) REPORT OF COMM ITTEE CHAIR (6) REPORT OF GENERAL MANAGER (7) REPORT OF ASSISTANT GENERAL MANAGER (8) REPORT OF DIRECTOR OF FINANCE (9) REPORT OF DIRECTOR OF HUMAN RESOURCES {10) REPORT OF DIRECTOR OF COMMUNICATIONS {11) REPORT OF GENERAL COUNSEL (12) CONSENT CALENDAR ITEMS {a-f) Consideration of motion to approve all agenda items appearing on the Consent Calendar not specifically removed from same, as follows: All matters placed on the consent calendar are considered as not requiring discussion or further explanation and unless any particular item is requested to be removed from the consent calendar by a Director, staff member or member of the public in attendance, there will be no separate discussion of these items. All items on the consent calendar will be enacted by one action approving all motions, and casting a unanimous ballot for resolutions included on the consent calendar. All items removed from the consent calendar shall be considered in the regular order of business. r l Members of the public who wish to remove an item from the consent calendar shall, upon recognition by the chair, · ..... ~_:_:e_:_:_::_~ ~-na_·,~-de_~t_:_:_~_::_~_f a_ann_:_:_:s-~g-sn_:_::_:_:_:_:_:_~_::_~d-he_fr_::_t~_:_:_:_;s_e:_no_t :_:_~e_f:_:m_ar_.th_e_co_n-se_n_t -ca-le_n_d_a_r. ______ j a. FAHR99-38: Receive and file Treasurer's Report for the month of May 1999: The Treasurer's Report will be handed out at the FAHR Committee meeting in accordance wlth the Board-approved Investment Policy, and in conformance to the Government Code requirement to have monthly reports reviewed within 30 days of month end. 2 b. FAHR99-39: c. FAHR99-40: d. FAHR99-41: e. FAHR99-42: f. FAHR99-50: June 9, 1999 Receive and file Certificates of Participation (COP} Monthly Report. Receive and file Employment Status Report as of May 19, 1999. Receive and file 1999/00 Strategic Goals Workplans. Renew the District's All-Risk Property and Earthquake Insurance Program for the period June 25, 1999 to May 15, 2000, in an amount not to exceed $890,250. 1) Award contracts for Temporary Employment Services (Specification No.' P-186) to the following support staffing finns for a period of one year, renewable for a period of four years, and cancelable at any time, for a total amount not to exceed $1 million: General Agency • Apple One Technical Agencies • Principal Technical Services, Inc. -Engineering and IT Personnel • EPC Consultants, Inc. -Engineering Personnel • DDB Engineering, Inc. -Engineering Personnel • Two Roads Professional Resources, Inc. -Engineering Personnel • Project Partners -Engineering Personnel • Tek Systems -IT Personnel • Lab Support -Laboratory personnel 2) Authorize staff to enter into additional agreements with other temporary firms, as they become known to District's staff, provided it is within budget guidelines. END OF CONSENT CALENDAR Consideration of items deleted from Consent Calendar, if any. (13) ACTION ITEMS (a-f} a. FAHR99-43: b. FAHR99-44: Approve agreement with Irvine Ranch Water District (IRWD) in connection with transferring assets and service responsibility for Park Pface (Michelson Station) Service Area to IRWD, at no additional cost to the District. (Gary Streed -15 minutes) Adopt Resolution No. OCSD 99-_, Establishing Sewer Service User Fees for 1999-2000. (Gary Streed -10 minutes) 3 c. FAHR99-45: d. FAHR99-46: e. FAHR99-47: f. FAHR99-48: June 9, 1999 1) Receive and file letter dated May 12, 1999 from Legacy Partners, requesting a partial refund of capital facilities capacity charge-rates for three parcels ,paid in December 1998 and January 1999, and a partial refund of capital facilities capacity charge rates for two parcels to be paid prior to the effective date of District's proposed ordinance for caJ:)ital facilities capacity charge rates, in the amount of $183,896.00; 2) Deny request for partial refund of capital facilities capacity charge rates for three parcels/permits paid in December 1998 and January 1999; 3) Approve request to grant fee reduction for two parcels/permits to be paid prior to the effective date of District's proposed ordinance for,capital facilities capacity char:ge rates. (Gary Streed-10 minutes) Adopt Resolution No. OCSD 99-_, Establishing Policies and Procedures for the Award of Purchase Orders and Contracts; Award of Pwblic Works Project Contracts; Award of Professional Services Contracts; Delegation of Authority to Implement Said Policies and Procedures; and Repealing Resolutions Nos. OCSD 98-8, OCSD 98-12, OCSD 98-22, and OCSD 98-43. (Don McIntyre -15 minutes) Approve proposed Operating, Capital, Debt/COP Service and Self- Insurance Budgets for 1999-00, as follows: Joint Works Operating/Working Capital Worker's Compensation Self-Insurance Public Liability Self-Insurance Joint Works Capital Outlay Revolving Collection System Operating Collection System Capital Improvement Debt/COP Service (Gary Streed -25 minutes) $44,000,000 330,000 792,000 68,771,000 9,356,500 23,629,000 41,690,000 1) Adopt Resolution No. OCSD 99-_, Adopting Rules and Regulations for Employer-Employee Relations and Repealing Resolution No. OCSD 98-34; and 2) Direct the Director of Human Resources to meet and consult with affected employee organizations and return to the Board for final adoption with any recommended modifications. (Mike Peterman -10 minutes) (14) INFORMATIONAL PRESENTATIONS (15) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY 4 .J June 9, 1999 (16) MATTERS WHICH A DIRECTOR WOULD LIKE STAFF TO REPORT ON AT A SUBSEQUENT MEETING (17) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT (18) PUiJ"URE MEETING DATES' The next Finance, Administration and Human Resources Committee Meeting is scheduled for July 14, 1999, at 5:00 p.m. (19) CLOSED SESSION During the course of conducting the business set forth ,on ,this agenda as a regular m~eting of th~ Committ~e, the 'Chair may convene the Committee in closed session to consider matters of pending real estate negotiations, pending or potential litigation, or personnel matters, pursuant to Government Code Sections 54956.8, 54956.9, 54957 or 54957.6, as noted. Reports relating to (a) purchase and sale of real property; (b) matters of pending or potential litigation; (c) employee actions or negotiations with employee representatives; or which are exempt from public disclosure under the California Public Records Act, may be reviewed by the Committee during a permitted closed session and are not available for public inspection. At. such time as final actions are taken by the Committee on any of these ~~-~jects, the minutes will reflect all,r.e ulred disclosures of information. A. Convene in closed session. 1. Confer with District's Labor Negotiator re Labor Negotiations (Government Code Section 54957.6). 2. Reconvene in regular session. 3. Consideration of action, if any, on matters considered in closed session. (20) ADJOURNMENT Notice To Committee Members: For any questions on the agenda or to place any items on the agenda, Committee members should contact the Committee Chair or Secretary ten days in advance of the Committee meeting. Committee Chair: Committee Secretary: Thomas Saltarelli Penny Kyle 5 (949) 833-9200 (714) 593-7130 June 9, 1999 t~~'' Annual Review of Investment Policy July Data Warehousing Demonstration Information July Quarterly Report of General Manager Approved Action Purchases Jul Retiree Health Care Premium Action August No meeting anticipated N/A September End of Year 1998-99 Operational Review Information September Revised User Rates for Class I and II Permittees Action September Agency-wide Communications Survey Information September Human Resources Customer Survey Information CSDOC e P.O. Box 8127 e Fountain Valley, CA 92728-8127 e (714) 962-2411 • • •· MINUTES OF FINANCE. ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, May 12, 1999, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on May 12, 1999 at 5:00 p.m., in the District's Administrative Office. (1) The roll was called and a quorum declared present, as follows: FAHR COMMITTEE MEMBERS: OTHERS PRESENT: Directors Present: Thomas Saltarelli, Chair Mark Leyes, Vice Chair Shawn Boyd Shirley McCracken James W. Silva Peer Swan, Board Vice Chair John J. Collins, Past Board Chair Jan Debay, Board Chair Directors Absent: John M. Gullixson Mark A Murphy (2) APPOINTMENT OF CHAIR PRO TEM No appointment was necessary. (3) PUBLIC COMMENTS There were none. Tom Woodruff, General Counsel Toby Weissert, Carollo Engineers Don Hughes Ryal Wheeler STAFF PRESENT: Don McIntyre, General Manager Blake Anderson, Assistant General Manager Mike Peterman, Director of Human Resources Gary Streed, Director of Finance Michelle Tuchman, Director of Communications Bob Ooten, Director of Operations & Maintenance Steve Kozak, Financial Manager Greg Mathews, Assistant to the General Manager Mike White, Controller Lisa Tomko, Human Resources Manager Dawn McKinley, Senior Human Resources Analyst Penny Kyle, Committee Secretary OCSD • P .0. Box 8127 • Fountain Valley, CA 92728-8127 • (714) 962-2411 Minutes of the Finance, Administration and Human Resources Committee Meeting Page2 May 12, 1999 (4) RECEIVE, FILE AND APPROVE MINUTES OF PREVIOUS MEETING It was moved, seconded and duly carried to approve the minutes of the workshop held on April 10, 1999, and the minutes of the April 14, 1999 Finance, Administration and Human Resources Committee meeting. Director Shirley McCracken abstained. (5) REPORT OF THE COMMITTEE CHArR The Committee Chair had no report. (6) REPORT OF THE GENERAL MANAGER The General Manager had no report. (7) REPORT OF ASSISTANT GENERAL MANAGER The Assistant General Manager had no report. (8) REPORT OF DIRECTOR OF FINANCE The Director of Finance had no report. (9) REPORT OF DIRECTOR OF HUMAN RESOURCES The Director of Human Resources Mike Peterman had no report. (10) REPORT OF DIRECTOR OF COMMUNICATIONS The Director of Communications, Michelle Tuchman, briefly reported on media activity at the District. (11) REPORT OF GENERAL COUNSEL Generat Counsel Tom Woodruff had no report. (12) CONSENT CALENDAR ITEMS (Items A-E) A. FAHR99-29: Receive and file Treasurer's Report for the month of April 1999: The Treasurer's Report was handed out at the FAHR Committee meeting in accordance with the Board-approved Investment Policy, and in conformance to the Government Code requirement to have monthly reports reviewed within 30 days of month end. • Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 May 12, 1999 B. FAHR99-30: Receive and file Certificates of Participation (COP) Monthly Report. C. FAHR99-31: Receive and file Employment Status Report as of April 21, 1999. D. FAHR99-32: Receive and file the Quarterly Investment Management Program Report for the period January 1, 1999 through March 31, 1999. E. F AHR99-33: Receive and file the Third Quarter Financial and Operational Report for the period ending March 31, 1999. END OF CONSENT CALENDAR Consideration of items deleted from Consent Calendar, if any. Motion: Moved, seconded and duly carried to approve the recommended actions for items specified as 12(A) through 12(E) under Consent Calendar. (13) ACTION ITEMS (ITEM A) A. FAHR99-34: Authorize the selection of a new Medical Insurance Company to replace United HealthCare's Point-of-Service Plan and PacifiCare's Health Maintenance Organization Plan effective July 1, 1999. Motion: Moved, seconded, and unanimously carried, to defer this item for consideration with other items in closed session as Agenda Item No. 19. Motion: Moved, seconded, and unanimously carried, to add Agenda Item No. 13A to Closed Session, as new Agenda Item No. 19A(2), pursuant to Government Code Section 54954.2(b), which matter needs immediate attention and arose subsequent to the publication of the agenda, to wit: Labor Negotiations Meet and Confer, pursuant to Government Code Section 54957.6. Motion: Moved, seconded, and unanimously carried to go out of order and into Closed Session. (19) CLOSED SESSION The Chair reported to tha Committee the need for a Closed Session, as authorized by Government Code Section 54957 .6, to discuss and consider the items that are specified as Item No. 19A(1) on the published Agenda, and Item No. 13A, as added to the Closed Session Agenda as Item No. 19A(2). The Committee convened in Closed Session at 5:19 p.m. At 6:07 p.m., the Committee reconvened in regular session. It was moved, seconded, and duly carried to approve the recommendation of the Staff contained in Report FAHR99-34, Agenda Item No. 13A, relating to selection of a new medical insurance plan. Confidential Minutes of the Closed Session held by the Finance, Administration and Human Resources Committee have been prepared in accordance with California Government Code Minutes of the Finance, Administration and Human Resources Committee Meeting Page 4 May 12, 1999 Section 54957.2, and are maintained by the Board Secretary in the Official Book of Confidential Minutes of Board and Committee Closed Meetings. A report of the action taken will be publicly reported at the time the approved action becomes final re Agenda Item No. 19A(1 ). (13) ACTION ITEMS (Items 8-D) B. FAHR99-35: Adopt Ordinance No. OCSD 99-09, An Ordinance of the Board of Directors of Orange County Sanitation District, Providing for a Comprehensive Capital Facilities Connection Charge Program. Motion: Moved, seconded, and duly carried to approve Staffs recommendation that a new comprehensive Connection Fee Program and Ordinance, containing elements as outlined by Staff, be adopted. C. FAHR99-36: Adopt Resolution No. OCSD 99-_, urging the California Legislature to modify the "County Sanitation District Act" to increase the maximum monthly compensation allowed for Directors. Motion: Moved, seconded, and duly carried to approve Staffs recommendation, amending the Resolution, under the same or similar provisions as allowed for Directors of Water Districts and Utility Districts. D. FAHR99-37: Approve expanding the District's Computer Financial Assistance Program to Directors, providing for a maximum loan of $3,000; 10% down payment; 24 months repayment period; interest rate at 5%; and no increase in the aggregate maximum loan fund of $150,000. There was extended discussion among the Directors, including the noting of a lack of necessity for such a Program. No action was taken, and the Chair directed Staff to remove it from the pending issues list. (14) INFORMATIONAL PRESENTATION There were no informational presentations (15) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY There was no other business discussed. (16) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT There were none. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 5 May 12, 1999 (17) MATTERS WHICH A DIRECTOR WOULD LIKE STAFF TO REPORT ON AT A SUBSEQUENT MEETING There were none. (18) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled for June 9, 1999 at 5:00 p.m. (20) ADJOURNMENT The Chair declared the meeting adjourned at approximately 8:10 p.m. Submitted by: \\radon\data 1\wp.dta\agenda\FAHR\Fahr99\99mins\051299 MIN.doc • ~ I I ~. FAHR COMMITTEE Meeting Date To Jt. Bds. 06/09/99 06/23/99 AGENDA REPORT Item NumbK' Item Number FJIJ,t.'/f,3 . Orange County Sanitation District FROM: SUBJECT: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager TREASURER'S REPORT FOR THE MONTH OF MAY 1999 GENERAL MANAGER'S RECOMMENDATION Receive and file Treasurer's Report for the month of May 1999. SUMMARY Pacific Investment Management Co. (PIMCO}, serves as the District's professional external money manager, and Mellon Trust serves as the District's third-party custodian bank for the investment program. The District's Investment Policy, adopted by the Board, includes reporting requirements as listed down the left most column of the attached PIMCO Monthly Report for the "Liquid Operating Monies" and for the "Long-Term Operating Monies." The District's external money manager is operating in compliance with the requirements of the District's Investment Policy. The District's portfolio contains no reverse repurchase agreements. Historical cost and the current market ("mark-to-market"} values are shown as estimated by both PIMCO and Mellon Trust. The slight differences are caused by differing assumptions regarding marketability at the estimate date. PROJECT/CONTRACT COST SUMMARY None. BUDGET IMPACT D This item has been budgeted. D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. ~ Not applicable (information item) llradonldata1 lwp.dta\fin\21 0\crane\FAHR\Fahr99Wune\TREARPT -Jun99.doc Revised: 10/17197 Page 1 ADDITIONAL INFORMATION Schedules are attached summarizing the detail for both the short-term and long-term investment portfolios. In addition, a consolidated report of posted investment portfolio transactions for the month of May 1999 is attached. The qttached yield analysis report is pr~sented as a monitoring and reporting enhancement. In this report, yield calGulations based on book values and market values are shown for individual holdings, as well as for each portfolio. Mellon Trust, the District's custodian bank, is trie source for these reports. Transactions that were pending settlement at month end may not be reflected. The District's investments are in compliance with the District's adopted Investment Policy, and the California Government Code. In addition, sufficient funds are available for the District to meet its operating expenditure requirements for the next six months. The table below details the book balances of the District's funds at month-end. A graphical representation of month-end balances is shown by the attached bar chart. State of Calif. LAIF Union Bank c he~king Acc.oynt Union Bank Overnight Repurchase Agreement PIMOO -Short-term Portfolio PIMCO -Long-term Portfolio District 11 GO Bond Fund 921 Debt Service Reserves @ Trustees Petty Cash TOTAL ALTERNATIVES None. CEQA FINDINGS None. ATTACHMENTS 1. Monthly Investment Reports 2. Monthly Transaction Report GGS:SK:lc \\radon\data1\wp.dtalfin\210\crane\FAHR\Fahr99\June\TREARPT-Jun99.doc Revised: 10/17/97 $29,915,784 358,323 3,342,000 18,779,652 301,141,784 9,230 32,196,818 4,400 $385,747,991 5.0 4.0 4.4 4.5 5.0 6.2 Page 2 Prepared by Finance, 6/7/99, 9:03 AM Monthly Treasurer's Report District Fund Balances -.,. $400,000,000 .----------------------------------- $300,000,000 I ~ ~ ~~~511 ~ ~ ~ I $200,000,000 i '--rJ:XX",rX,v~nt----f,,r0/,,Y,x:,~------l(X){X)Of----Jx'.')(' .. x",0,._'1--_------t><"X.,'.){,)t\,_rx'}-_,---v~_,,,P,,,_,_x,?1"' $100,000,000 -1--4::.2(;~>9. Q<;?i----~;?So_.>Qi---.---MoN~---l~,x:.,.,~.,._.,..}-------P __ O<,. ?<. -~-->1--------t''>66~_J $Q I t'.VV'ODI YYYXY'I 16,:0:0AOI rXXXX:>d CXXXX:>t YYYYY"d I Dec, 98 Jan, 99 Feb, 99 ~ PIMCO -Long-term ~ Debt Service Reserves &:I Bank Accts 13 Dist 11 GO Bond Fund G:\excel.dta\fin\2220\geggi\Finance\monthly treasurers report Mar, 99 Ill PIMCO -Short-term []LAIF Petty Cash Apr, 99 May, 99 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 31 May 1999) Liquid Operating Monies (603) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • tI~~r • Historical Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST RATE CHANGE Dollar Impact (gain/loss) of 1 % Change: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: ( see attached schedule) 15.1.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: 1 Month: 3 Months: 12 Months: Year-to-Date: H: \... \FINANCE\21 0\KOZAK\SAMPLELJQ0599.RPT $18,782,097 $18,779,652 $18,831,940 $18,831,935 0.37 0.20 $70,171 0% 22% "M+" 0% Yes Portfolio Index 0.38 0.38 1.24 1.14 5.31 4.76 1.96 1.86 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 31 May 1999) Long-Term Operating Monies (203) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • tI~~r • Historical Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST RATE CHANGE Dollar Impact (gain/loss) of 1 % Change: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: (see attached schedule) 15.1.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: 1 Month: 3 Months: 12 Months: Year-to-Date: H: \... \FINANCE\21 0\KOZAK\SAMPLEL-T0599.RPT $302,172,257 $301,141,784 $304,905,185 $306,054,953 2.46 2.37 $7,514,241 0% 6% ''AAA'' 0% Yes Portfolio Index (0.42) (0.39) 0.63 0.76 5.45 5.24 0.33 0.35 OCSF075111 LIQUID OPER-PIMCO PORTFOLIO DISTRIBUTION CASH & CASH EQUIVALENTS COMMERCIAL PAPER -DISCOUNT TREASURY BILLS -LESS THN lYR FEDERAL HOME LOAN MORTGAGE -LE FNMA ISSUES -LESS THN lYR MUTUAL FUNDS TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES U.S. AGENCIES BANKING & FINANCE INDUSTRIAL UTILITY -ELECTRIC TOTAL FIXED INCOME SECURITIES OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES TOTAL OTHER PORTFOLIO ASSETS NET PORTFOLIO ASSETS MELLON TRUST PORTFOLIO SUMMARY BY SECTOR 31-MAY-1999 COST 2,651,631.09 3,350,799.17 2,440,218.06 889,080.00 112,262.87 ------------ 9,443,991.19 4,698,304.60 2,409,~85.50 863,753.00 1,416,501.00 -·----------- 9,387,944.10 190,085.40 ---------- 190,085.40 19,022,020.69 MARKET VALUE 2,651,631.09 3,350,799.17 2,440,218.06 889,080.00 112,262.87 ----------- 9,443,99 l. l 9 4,692,574.00 2,379,720.00 855,576.00 1,407,791.00 ------------ 9,335,661.00 190,085.40 ---------- 190,085.40 % OF TOTAL 13.98% 17.66% 12.86% 4.69% 0.59% ------ 49. 78% 24.74% 12.54% 4 .51% 7.42% ------ 49. 21% 1.00% 1.00% 18,969,737.59 100.00% Page 1 UNREALIZED GAIN/LOSS 0.00 0.00 0.00 0.00 0.00 0.00 -5,730.60 -29,665.50 -8,177.00 -8,710.00 --------.-- -52,283.10 0.00 0.00 -52,283.10 ESTIMATED ANNUAL INCOME 0.00 0.00 0.00 0.00 5,166.28 -------- 5,166.28 225,945.00 202,250.00 60,562.50 105,700.00 --------·- 594, 457. 50 0.00 0.00 599,623.78 BASE: USO HBllOO CURR YIELD 0.00 0.00 0.00 0.00 4.60 0.05 4.81 8.50 7.08 7.51 6.37 0.00 0.00 3.16 OCSF075222 LONG TERM OPER-PIMCO PORTFOLIO DISTRIBUTION CASH & CASH EQUIVALENTS RECEIVABLES PAYABLES COMMERCIAL PAPER -DISCOUNT MUTUAL FUNDS TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES U.S. GOVERNMENTS U.S. AGENCIES GNMA SINGLE FAMILY POOLS GNMA MULTI FAMILY POOLS FHLMC POOLS FHLMC MULTICLASS FNMA POOLS ASSET BACKED SECURITIES OTHER GOVERNMENT OBLIGATIONS MUTUAL FUNDS BANKING & FINANCE INDUSTRIAL UTILITY -ELECTRIC UTILITY -TELEPHONE TOTAL FIXED INCOME SECURITIES OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES TOTAL OTHER PORTFOLIO ASSETS NET PORTFOLIO ASSETS , MELLON TRUST PORTFOLIO SUMMARY BY SECTOR 31-MAY-1999 COST 4,317,686.52 -21,312,706.25 7,346,088.68 273,576 .71 ------------- -9,375,354.34 136,283,536.53 49,211,324.49 16,341,093.75 4,546,637.51 10,983,488.79 6,585,122.07 725,893.75 157,295.93 3,995,792.99 1,000,000.00 60,913,927.57 15,037,689.00 2,151,250.00 7,497,255.00 -------------- 315,430,307.38 4,210,340.73 ------------ 4,210,340.73 310,265,293.77 MARKET VALUE 4,317,686.52 -21,312,706 .25 7,346,088.68 273,576.71 --·----------- -9,375,354.34 133,932,474.86 48,183,755.48 16,166,247.50 4,53 1,495.94 10,919,953.53 6,599,845.43 727,036.20 157,867.58 4,020,314.97 991,720.00 60,594,585 .94 14,220,491.40 2,002,700 .00 7,468,650 .00 % OF TOTAL 1. 41% -6.98% 2.41% 0.09% ------ -3. 07% 43.86% 15.78% 5.29% 1.48% 3.58% 2.16% 0.24% 0.05% 1. 32% 0.32% 1 9.84% 4.66% 0.66% 2.45% 310,517,138.83 101.69% 4,210,340.73 1.38% 4,210,340.73 1. 38% 305,352,125.22 100.00% Page 1 UNREALIZED GAIN/LOSS 0.00 0.00 0.00 0.00 0.00 -2,351,061.67 -1,027,569.01 -174,846.25 -15 ,141.57 -63,535.26 14,723.36 1,142.45 571.65 24,521.98 -8,280.00 -319, 341. 63 -817,197.60 -148,550.00 -28,605.00 ------------- -4,913,168.55 0.00 0.00 -4,913,168.55 ESTIMATED ANNUAL INCOME 0.00 0.00 0.00 12,589.86 --------- 12,589.86 8,450,974.44 3,057,467.66 1,057,500.00 308,852.54 757,015.84 404,660.76 42,113.70 9,752.35 231,000.18 62,000.00 3,614,398.85 1,162,527.00 164,000.00 450,000.00 -------~--- 19,772,263.32 0.00 0.00 19,784,853.18 BASE: USD HBll00 CURR YIELD 0.00 0.00 0.00 4.60 -0.13 6.31 6.35 6.54 6.82 6.93 6.13 5.79 6.18 5.75 6.25 5.96 8.18 8.19 6.03 6.37 0.00 0.00 6.48 YLDANAL OCSF07511102 DISTRICT: LIQUID OPERATING PAR VALUE SECURITY ID SECURITY DESCRIPTION CASH & CASH EQUIVALENTS 112,262.87 DREYFUS TREASURY CASH MGMT 996085247 3,400,000.00 US TREASURY BILLS 912795CN9 09/09/1999 DD 03/11/99 200,000.00 COCA COLA CO DISC 19121ETB9 06/11/1999 2,500,000.00 FEDERAL HOME LN MTG CORP DISC 313396NT6 MAT 11/02/1999 900,000.00 FEDERAL NATL MTG ASSN DISC NT 313588KV6 MAT 08/24/1999 700,000.00 USAA CAP CO~P DISC 90328BTB7 06/11/1999 900,000.00 MONSANTO CO DISC 6ll66BWP8 09/23/1999 900,000.00 GOLDMAN SACHS LP DISC 38142UY30 11/03/1999 TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES l,000,000.00 FEDERAL HO~ LN MTG CORP DEBS 3134A3RT5 FLTG RT 05/13/2000 DD 05/18/99 3,700,000.00 FEDERAL HOME LN BK CONS BDS 3133M7EW2 4.835% 01/28/2000 DD 01/28/99 500,000.00 DUKE ENERGY CORP 1ST & REF MTG 264399DB9 8.000% 11/01/1999 DD 11/01/94 500,000.00 CHRYSLER FINL CO LLC 171205AT4 13.250% lO/lS/1999 YTM AT BOOK .000 4.597 4.842 4.846 4.859 4.872 4.901 4.940 4.631 .000 4.860 5.001 5.119 YIELD ANALYSIS 1999/05/31 CURRENT QUALITY MARKET YIELD RATING PRICE 4.602 AAA 100.000 .000 P-1 98.553 .000 P-1 99.133 .ooo P-1 97.609 .000 P-1 98.787 .ooo P-1 99.128 .ooo P-1 97.933 .ooo P-1 97.563 .090 4.707 AAA 99.953 4.844 AAA 99.812 7.912 AA3 101.110 12.883 Al 102.849 PAGE RUN DATE RUN TIME TOTAL COST/ MARKET VALUE 112,262.87 112,262.87 3,350,799.17 3,350,799.17 198,266.67 198,266.67 2,440,218.06 2,440,218.06 889,080.00 889,080.00 693,895.42 693,895.42 881,400.00 881,400.00 878,069.00 878,069.00 9,443,991.19 9,443,991.19 999,200.00 999,530.00 3,699,104.60 3,693,044.00 511,200.00 505,550.00 529,010.00 514,245.00 1 06/03/99 14.25.24 % TYPE % TOTAL 1.18 .60 35.48 17.84 2.09 1.06 25.83 12.99 9.41 4,73 7.34 3.69 9.33 4.69 9.29 4.68 100.00 50.28 10.70 5.32 39.55 19.67 5.41 2.69 5.50 2.74 YLDANAL OCSF07511102 DISTRICT: LIQUID OPERATING YIELD ANALYSIS 1999/05/3] PAGE RUN DATE RUN TIME 2 06/03/99 14.25.24 ===== ===~-===----=:====------= ==·:::-==----=..--= ·---::===========================-================= PAR VALUE YTM AT CURRENT QUALITY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD RATING PRICE MARKET VALUE % TOTAL -----------------------------------------------------------,---------------------------- 850,000.00 PHILLIP MORRIS CO INC NTS 5.258 7.079 A2 100.656 863,753.00 9 .16 718154BX4 7.125% 12/0l/1999 DD 12/01/92 855,576.00 4 .56 900,000.00 GENERAL MTRS ACCEP CORP MTN 5.305 6.219 A2 100.496 909,657.00 9.68 37042M7G2 6.250% Ol/ll/2000 DD 01/11/94 904,464.00 4.82 300,000.00 BEAR STEARN COS INC NTS 5.363 7.581 A2 100.574 303,930.00 3.23 073902AP3 7.625% 09/l~/1999 DD 09/21/94 301,722.00 1.61 150,000.00 CITICORP SUB CAP NT 5.364 9.682 Al 100.706 151,663.50 1.61 173034DQ9 9.750% 08/0l/1999 151,059.00 .80 900,000.00 LONG ISLAND LTG CO DEB 5.419 7.282 RAA3 100.249 905,301.00 9.66 542671CK6 7.300% 07/15/1999 DD 07/21/92 902,241.00 4.80 500,000.00 TRANSAMERICA FIN MTN tSBOOllO 5.653 8.313 A3 lOl. 646 515,125.00 5.44 89350MEP1 8.450% 01/12/2000 DD 01/12/95 508,230.00 2.71 ----------------------------------- TOTAL FIXED INCOME SECURITIES 4.228 5.919 9,387,944.10 100.00 9,335,661.00 49.72 ------------------------------------ TOTAL 4.396 3.49] 18,831,935.29 100.00 18,779,652.19 100.00 -===-==~ YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING YIELD ANALYSIS 1999/05/31 ::.:::::-=:·:;::::::::=====:::::::::::·:=::========-m..::=====-==---==----=--=---==.:=-::=,.:..,----==-===-=•-==~-- PAR VALUE SECURITY ID SECURITY DESCRIPTION CASH & CASH EQUIVALENTS 273,576.71 DREYFUS TREASURY CASH MGMT 996085247 400,000.00 PROCTER & GAMBLE DISC 74271STJ4 06/18/1999 1,400,000.00 BELLSOUTH TELECOM DISC 07815KTN5 06/22/1999 900,000.00 GOLDMAN SACHS LP DISC 38142UTB8 06/11/1999 1,000,000.00 FORD MTR CR CO DISC 34539UUS9 07/26/1999 800,000.00 BELLSOUTH TELECOM DISC 07815KTQ8 06/24/1999 300,000.00 DU PONT DE NEMOUR DISC 26354BT44 06/04/1999 900,000.00 AMERICAN EX CR CP DISC 02581STG6 06/16/1999 1,300,000.00 NATIONAL RUIIAL DISC 63743DTB7 06/11/1999 400,000.00 IBM DISC 45920ETR2 06/25/1999 TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES 2,000,000.00 BANKERS TR NY CORP GLOBAL NT 066365DW4 FLTG RT 05/11/2003 DD 05/11/98 3,500,000.00 CHRYSLER FI~ MTN 17120QE80 FLTG RT 08/08/2002 DD 04/08/98 YTM AT BOOK .ooo 4.798 4.821 4,823 4.840 4. 843 4.847 4.854 4.868 4.879 4.505 .ooo .000 CURRENT QUALITY MARKET YIELD RATING PRICE 4.602 AAA 100.000 .000 P-1 99.417 .ooo P-1 99.573 .000 P-1 99.321 .000 P-1 98.752 .000 P-1 99.518 .000 P-1 99.027 .000 99.704 .000 P-1 99.023 .ooo P-1 98.782 .311 5.835 Al 99.320 5.072 Al 99.906 PAGE RUN DATE RUN TIME TOTAL COST/ MARKET VALUE 273,576.71 273,576.71 397,668.00 397,668.00 1,394,026.67 1,394,026.67 893,892.75 893,892.75 987,518.88 987,518.88 796,144.00 796,144.00 297,080.00 297,080.00 897,338.00 897,338.00 1,287,293.94 1,287,293.94 395,126.44 395,126.44 7,619,665.39 7,619,665.39 1,992,800.00 1,986,400.00 3,498,635.00 3,496,710.00 3 06/03/99 14.25.24 % TYPE % TOTAL 3.59 .09 5.21 .12 18.29 .44 11.73 .28 12.96 .31 10.44 .25 3.89 .09 11.77 ,28 16.89 .40 5.18 .12 100.00 2.38 .63 .62 1.12 1.10 YLDANAL YIELD ANALYSIS PAGE 4 OCSF07522202 1999/05/31 RUN DATE 06/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 14.25.24 -------------------------------------------=-==---------------------=-========~ :============================================= PAR VALUE YTM AT CURRENT QUALITY MARJ<ET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD RATING PRICE MARKET VALUE % TOTAL -----------~----------------··-·------------·------------------------------·----------------- 2,000,000.00 FORD MTR CR CO TERM ENHANCED .000 5-115 Al 99.781 1,998,613.60 .64 345397SC8 FLTG RT 08/27/2006 DD 08/27/98 1,995,620.00 .63 3,950,000.00 GENERAL MTRS ACCEP CORP NTS .ooo 5.537 A2 99.452 3,918,768.50 1.26 370425QV5 FLTG RT 08/18/2003 DD 08/17/98 3,928,354.00 1.23 4,000,000.00 HELLER FINL MTN .000 5.227 A3 100.250 4,000,000.00 1.29 42333HJN3 FLTG RT 06/01/2000 DD 04/07/98 4,010,000.00 1.26 3,000,000.00 HELLER FINL MTN tTR 00246 .ooo 5.246 A3 100.210 3,000,000.00 .96 42333HLF7 FLTG RT 04/28/2003 DD 04/27/99 3,006,:100.00 .94 4,000,000.00 HOUSEHOLD FIN CO MTN .ooo 5.966 A2 99.690 4,000,000.00 1.28 44181KZA5 FLTG RT 06/24/2003 DD 06/24/98 3,987,600.00 1.25 1,000,000.00 HOUSEHOLD FIN MTN SR 100570 .000 5.757 A2 99. 770 999,188.90 .32 44181KZT4 FLTG RT 08/01/2001 DD 09/04/98 997,700.00 .31 4,041,736.17 STUDENT LN MKTG ASSN 1997-1 Al .000 5. 746 AAA 99.470 3,995,792.99 1.29 78442GAK2 VAR RT 10/25/2005 DD 03/20/97 4,020,314.97 1.26 7,211,050.00 US TREASURY INFLATION INDEX NT 3.698 3.628 AAA 99.906 7,187,893.77 2.32 9128273A8 3.625% 07/15/2002 DD 07/15/97 7,204,271.61 2.26 10,413,300.00 US TREASURY INFLATION INDEX NT 3.727 3.485 AAA 96.844 10,134,275.00 3.24 9128272M3 3.375% 01/15/2007 DD 01/15/97 10,084,656.25 3.17 0,500,ooo.oo US TREASURY NOTES 4.179 6 .146 AAA 101. 687 9,034,223.67 2.78 9128272G6 06.250% 01/31/2002 DD 01/31/97 8,643,395.00 2.72 19,000,000.00 FEDERAL NATL MTG ASSN MTN 4.943 6.523 AAA 102.250 20,012,510.00 6.25 31364CZY7 6.670% 03/27/2002 DD 03/27/97 19,427,500.00 6.11 1,000,000.00 MORGAN STANL~Y MTN ETR 00299 5.170 5.148 AA3 100.031 6,996,129.00 2.25 61745ENL1 FLTG RT 04/1~-/2002 DD 04/15/99 7,002,170.00 2.20 5,ooo,ooo.oo US TREASURY BONDS 5.234 9.289 AAA 119. 766 6,233,593.75 1.92 912810DE5 11.125% 08/15/2003 DD 07/05/83 5,988,300.00 1.88 31,500,000,00 US TREASURY NOTES 5.294 6.258 AAA 101.875 32,509,817.31 10.33 912827Z54 06.375% 09/30/2001 DD 09/30/96 32,090,625.00 10.09 11,100,000.00 US TREASURY NOTES 5.366 7.179 AAA 104.469 18,388,684.02 5.75 912827025 07.500% 11/15/2001 DD 11/15/91 17,864,199.00 5.62 YLDANAL YIELD ANALYSIS PAGE 5 OCSF07522202 1999/05/31 RUN DATE 06/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 14.25.24 ---------------------·--=---==-·--·-=------=-=-= PAR VALUE YTM AT CURRENT QUALI'l' MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD RATING PRICE MARKET VALUE % TOTAL ---------------------------------------------------~·--------------------------·--------------- 5,500,000.00 US TREASURY NOTES 5.402 6,139 AAA 101.812 5,677,682.23 1.80 9128273G5 06.250% 08/31/2002 DD 09/02/97 5,599,660.00 1.76 14,700,000.00 US TREASURY NOTES 5.456 5.535 AAA 99.359 14,722,617.19 4.70 912827482 05.500% 05/31/2003 DD 05/31/98 14,605,773.00 4.59 5,200,000.00 US TREASURY BONDS 5.617 9.603 AAA 123.656 6,698,250.00 2.07 912810DGO 11.875% 11/l5/2003 DD 10/05/83 6,430,112.00 2.02 1,500,000.00 ASSOCIATES CORP NA SR NTS 5.650 6.466 AA3 100.533 1,543,215.00 .48 046003HY8 6.500% 07/15/2002 DD 07/11/97 1,507,995.00 .47 730,000,00 COMMIT TO PUR FNMA 11TH 5.742 5 ,793 AAA 99.594 725,893.75 .23 11F011677 VAR RT 07/01/2029 727,036.20 ,23 1,000,000.00 HELLER FINANCIAL INC NTS 5.760 5 .812 A3 98.933 999,730.00 .31 42333HKJO 5.750% 09/25/2001 DD 09/25/98 989,330.00 .31 16,100,000,00 US TREASURY NOTES 5.783 6 .344 AAA 102.453 16,581,067.03 5 .31 9128272Wl 06.500% 05/31/2002 DD 06/02/97 16,494,933.00 5.18 2,005,000.00 SEARS ROEBUCK ACCEP CORP MTN 5.804 6.551 A2 99.828 2,060,739.00 .64 81240QGW6 6.540% 02/20/2003 DD 02/20/97 2,001,551.40 .63 5,ooo,ooo .oo US TREASURY NOTES 5.811 6 .143 AAA 101. 750 5,086,402.25 1.63 9128272L5 06.250% 02/28/2002 DD 02/28/97 5,087,500.00 1.60 3,000,000 .00 SEARS ROEBUCK ACCEP CORP MTN 5.849 6.616 A2 100.218 3,073,170.00 .96 81240QJA1 6.630% 07/09/2002 DD 07/09/97 3,006,540.00 .95 14,750,000.00 FEDERAL NATL MTG ASSN MTN 5.882 6.033 AAA 94.641 14,560,462.50 4 .49 31364GLD9 5.710% 12/15/2008 DD 12/15/98 13,959,547.50 4.39 6,000,000.00 NATIONSBANK CHARLOTTE NC MTN 5.882 5.856 AAl 99.906 5,996,400.00 1.93 63858JDE6 5.850% 04/07/2000 DD 04/07/98 5,994,360.00 1.88 890,576.40 FHLMC MULTICL MTG P/C 1574 E 5.912 5.893 100.125 889,324.02 .28 3133T02D5 5.900% 06/15/2017 891,689.62 .28 1,018,574 .48 CHASE MANHATTAN GRAN 95-B CL A 5.957 5.895 AAA 100.087 1,016,465.72 .32 161614AE2 5.900% 11/15/2001 DD 11/15/95 1,019,460.64 .32 2,500,000.00 MERRILL LYNCH NOTES 5.995 6.350 AA3 100.398 2,526,725.00 .80 59018SXP4 6.375% 10/01/2001 DD 10/03/97 2,509,950.00 .79 YLDANAL YIELD ANALYSIS PAGE 6 OCSF07522202 1999/05/31 RUN DATE 06/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 14.25.24 --------====--== -·-================--========================== PAR VALUE YTM AT CURRENT QUALITY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD RATING PRICE MARKET VALUE % TOTAL --------------------·--------------------·----------------------------·-----------------·-- 7,500,000.00 BELLSOUTR TELECOMMUNICATIONS 6.010 6.025 AAA 99.582 7,497,255.00 2.40 079867AX5 6.000% 06/15/2002 DD 06/15/98 7,468,650.00 2.35 _1,250,000.00 GENERAL MTRS ACCEP CORP NTS 6.032 6.994 A2 101. 875 1,283,862.50 .41 370425QFO 7.125% 05/01/2001 DD 05/01/97 1,273,437.50 .40 1,000,000.00 GENERAL MTRS ACCEP CORP MTN 6.046 6.632 A2 101.031 1,018,520.00 .32 37042WGK1 6.700% 04/30/2001 DD 04/25/96 1,010,310.00 .32 10,500,000.00 COMMIT TO PUR GNMA SF MTG 6.102 6.663 AAA 97.547 10,329,375.00 3.29 01N062664 6.500% 06/lS/2029 10,242,435.00 3.22 2,000,000.00 BANKBOSTON CORP SR NTS 6 .133 6.164 A2 99.366 1,999,600.00 .64 06605TAL6 6.125% 03/lS/2002 DD 03/12/99 1,987,320.00 .62 157,295.94 FIFTH THIRD BK AUTO TR 96A CLA 6.200 6.178 AAA 100.363 157,295.93 .05 31677EAA4 6.200% 09/01/2001 DD 03/15/96 157,867.58 .05 1,000,000.00 POPULAR INC MTN fTR 00004 6.201 6.252 A3 99.172 1,000,000.00 .31 73317PAD1 6.200% 04/30/2001 DD 04/21/99 991,720.00 .31 2,soo,000.00 LEHMAN BROS HLDGS MTN TR 00252 6.232 6.376 BAAl 100.371 2,509,175.00 .80 52517PLM1 6.400% 08/30/2000 DD 09/26/97 2,509,275.00 .79 6,250,000.00 COMMIT TO PUR GNMA SF MTG 6.281 6.330 AAA 94.781 6,011,718.75 1.90 01N060668 6.000% 06/lS/2029 5,923,812.50 1.86 4,500,000.00 FEDERAL NATL MTG ASSN MTN 6.291 6.163 AAA 101.094 4,488,705.00 1.46 31364CXV5 6.230% 03/01/2002 DD 03/03/97 4,549,230.00 1.43 3,690,873.18 FHLMC MULTICLASS CTF E3 A 6.316 5.971 AAA 100.782 3,694,910.05 1.19 3133TCE95 6.324% 08/15/2032 3,719,735.81 1.17 2,000,000.00 BEAR STEARNS COS INC 6.330 6.742 A2 100.122 2,031,960.00 .64 073902AH1 6.7501 04/1~/2003 2,002,440.00 .63 5,ooo,ooo.oo LERMAN BROS HLDGS MTN #00196 6.364 6.632 BAAl 100.265 5,039,450.00 1.61 52517PJD4 6.650% 11/08/2000 DD 11/08/96 5,013,250.00 1.58 1,305,000.00 BEAR STEARNS COS INC SR NTS 6.425 6.702 A2 100.716 1,317,619.35 .42 073902AW8 6.750% 05/01/2001 DD 04/26/96 1,314,343.80 .41 2,000,000.00 FRLHC MULTICLASS CTF Tll A6 6.496 6.538 AAA 99.421 2,000,888.00 .64 3133TDPV2 6.500% 09/25/2018 1,988,420.00 .63 YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING PAR VALUE SECURITY ID SECURITY DESCRIPTION 2,293,210.93 FHLMC MULTICLASS CTF SER 1620Z 3133T17A4 6.000% 11/15/2023 DD 11/01/93 8,000,000.00 FEDERAL NATL MTG ASSN MTN 31364CBD9 6.625% 04/18/2001 DD 04/18/96 9,000,000.00 PHILIP MORRIS COS NT 718154BB2 9.250% 02/15/2000 10,814,512.04 FHLMC GROUP IG5-0476 3128DDQ55 7.000% 02/01/2003 DD 02/01/98 3,000,000.00 GMAC MED TERM NTS 37042RKQ4 8.625% 1/10/2000 DD 1/10/95 2,615,836.80 GNMA II POOL 1080088M 36225CC20 6.875% 06/20/2027 DD 06/01/97 1,843,053.70 GNMA II POOL 10080023 36225CAZ9 7.000% 12/20/2026 DD 12/01/96 2,500,000.00 US TREASURY BONDS 912810DJ4 13.250% 05/15/2014 DD 05/15/84 2,000,000.00 LONG ISLAND LTG CO DEB 542671CT7 8.200% 03/15/2023 DD 03/28/93 TOTAL FIXED INCOME SECURITIES TOTAL YTM AT BOOK -----·- 6.554 6.577 6.593 6.628 6.660 6. 705 6.869 6.906 7.512 -------- 4.550 4.550 YIELD ANALYSIS 1999/05/31 CURRENT QUALITY YIELD RATING -------------- 6.502 AAA 6.518 AAA 9.037 A2 6.932 AAA 8.477 A2 6.791 AAA 6.850 AAA 8.628 AAA 8.189 BAA3 6.123 6.100 MARKET PRICE ------·-- 92.281 101.641 102.360 100.975 101. 742 101.234 102.188 153.562 100.135 PAGE RUN DATE RUN TIME TOTAL COST/ MARKET VALUE ------------ 2,137,070.99 2,116,197.98 8,012,576.00 8,131,280.00 9,903,780.00 9,212,400.00 10,983,488.79 10,919,953.53 3,227,070.00 3,052,260.00 2,673,058.23 2,648,116.23 1,873,579.28 1,883,379.71 4,029,030.31 3,839,050.00 2,151,250.00 2,002,100.00 315,430,307.38 310,517,138.83 ----------------- 323,049,972,77 318,136,804.22 =-=-=~=== 7 06/03/99 14.25.24 % TYPE % TOTAL ------ .68 .67 2.61 2.56 2.96 2.90 3.51 3.43 .98 .96 .85 .83 .60 .59 1.23 1.21 .64 .63 --------- 100.00 97.60 --·----- 100.00 100.00 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 VALUE ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE ODE BROKER RECEIPTS AND DISBURSEMENT TRANSACTIONS U.S. DOLLAR OTHER ADMINISTRATIVE EXPENSES LIQUID OPER-PIMCO 0.00 FED WIRE FEES ARPIL NA9123459 cw LONG TERM OPER-PIMCO 0.00 FED WIRE FEES APRIL NA9123459 cw PURCHASES U.S. DOLLAR CASH & CASH EQUIVALENTS LONG TERM OPER-PIMCO 900,000.00 AMERICAN EX CR CP DISC 02581STG6 06/16/1999 B GOLDMAN SACHS & CO, NY 900,000.00 02581STG6 FC 1,400,000.00 07815KTN5 B 1,400,000.00 07815KTN5 FC 2,200,000.00 07815KTQ8 B LONG TERM OPER-PIMCO AMERICAN EX CR CP DISC 06/16/1999 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/22/1999 FIRST CHICAGO CAPITAL MARKETS, LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/22/1999 FIRST CHICAGO CAPITAL MARKETS, LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/24/1999 LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO LOCAL AMOUNT/ COST/ GAIN LOSS BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 06-MAY-1999 06-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 19-MAY-1999 19-MAY-1999 Page 1 -1.70 -1.70 0.00 -10.20 -10.20 0.00 -897,338.00 897,338.00 0.00 -897,338.00 -897,338.00 0.00 -1,394,026.67 1,394,026.67 0.00 -1,394,026.67 -1,394,026.67 0.00 -2,189,396.00 2,189,396.00 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -1.70 0.00 0.00 0.00 -10.20 0.00 0.00 0.00 -897,338.00 897,338.00 0.00 0.00 -897,338.00 0.00 0.00 0.00 -1,394,026.67 1,394,026.67 0.00 0.00 -1,394,026.67 0.00 0.00 0.00 -2,189,396.00 2,189,396.00 0.00 0.00 0.000000 0.000000 1.000000000 0.000000 0.000000 1.000000000 99.704222 99.704222 1.000000000 99.704222 99.704222 1.000000000 99.573334 99.573334 1.000000000 99.573334 99.573334 1.000000000 99.518000 99.518000 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER 2,200,000.00 BELLSOUTH TELECOM DISC 07815KTQ8 06/24/1999 FC LEHMAN COML PAPER INC (LGSI), LIQUID OPER-PIMCO 2,500,000.00 FEDERAL HOME LN MTG CORP DISC 313396NT6 MAT 11/02/1999 19-MAY-1999 19-MAY-1999 19-MAY-1999 04-MAY-1999 04-MAY-1999 B CREDIT SUISSE FIRST BOSTON COR ---------- LIQUID OPER-PIMCO 2,500,000.00 FEDERAL HOME LN MTG CORP DISC 04-MAY-1999 313396NT6 MAT 11/02/1999 04-MAY-1999 FC CREDIT SUISSE FIRST BOSTON COR 04-MAY-1999 900,000.00 313588KV6 B 900,000.00 313588KV6 FC 900,000.00 38142UY30 B 900,000.00 38142UY30 FC 400,000.00 74271STJ4 B LIQUID OPER-PIMCO FEDERAL NATL MTG ASSN DISC NT MAT 08/24/1999 MORGAN STANLEY & CO INC, NY LIQUID OPER-PIMCO FEDERAL NATL MTG ASSN DISC NT MAT 08/24/1999 MORGAN STANLEY & CO INC, NY LIQUID OPER-PIMCO GOLDMAN SACHS LP DISC 11/03/1999 GOLDMAN SACHS~ CO, NY LIQUID OPER-PIMCO GOLDMAN SACHS LP DISC 11/03/1999 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO PROCTER & GAMBLE DISC 06/18/1999 GOLDMAN SACHS & CO, NY 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 04-MAY-1999 05-MAY-1999 04-MAY-1999 05-MAY-1999 05-MAY-1999 05-MAY-1999 05-MAY-1999 Page 2 -2,189,396.00 -2,189,396.00 0.00 -2,440,218.06 2,440,218.06 0.00 -2,440,218.06 -2,440,218.06 0.00 -889,080.00 889,080.00 0.00 -889,080.00 -889,080.00 0.00 -878,069.00 878,069.00 0.00 -878,069.00 -878,069.00 0.00 -397,668.00 397,668.00 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -2,189,396.00 0.00 0.00 0.00 -2,440,218.06 2,440,218.06 0.00 0.00 -2,440,218.06 0.00 0.00 0.00 -889,080.00 889,080.00 0.00 0.00 -889,080.00 0.00 0.00 0.00 -878,069.00 878,069.00 0.00 0.00 -878,069.00 0.00 0.00 0.00 -397,668.00 397,668.00 0.00 0.00 99.518000 99.518000 l.000000000 97. 608722 97. 608722 l.000000000 97. 608722 97. 608722 1.000000000 98.786666 98.786666 1.000000000 98.786666 98.786666 l.000000000 97.563222 97.563222 1.000000000 97.563222 97.563222 1.000000000 99.417000 99.417000 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 400,000.00 PROCTER & GAMBLE DISC 74271STJ4 06/18/1999 FC GOLDMAN SACHS & CO, NY 3,400,000.00 912795CN9 B 3,400,000.00 912795CN9 FC LIQUID OPER-PIMCO US TREASURY BILLS 09/09/1999 DD 03/11/99 GOLDMAN SACHS & CO, NY LIQUID OPER-PIMCO US TREASURY BILLS 09/09/1999 DD 03/11/99 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 05-MAY-1999 05-MAY-1999 05-MAY-1999 14-MAY-1999 17-MAY-1999 14-MAY-1999 17-MAY-1999 17-MAY-1999 400,000.00 LEHMAN BROTHERS REPO 04-MAY-1999 99358V390 04.780% 05/05/1999 DD 05/04/99 04-MAY-1999 B LEHMAN BROS INC, NJ 400,000.00 99358V390 FC LONG TERM OPER-PIMCO LEHMAN BROTHERS REPO 04.780% 05/05/1999 DD LEHMAN BROS INC, NJ 04-MAY-1999 05/04/99 04-MAY-1999 04-MAY-1999 LIQUID OPER-PIMCO 20,416.83 DREYFUS TREASURY CASH MGMT 996085247 B LIQUID OPER-PIMCO 20,416.83 DREYFUS TREASURY CASH MGMT 996085247 FC LIQUID OPER-PIMCO 9,781.94 DREYFUS TREASURY CASH MGMT 996085247 B 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 04-MAY-1999 04-MAY-1999 Page 3 -397,668.00 -397,668.00 0.00 -3,350,799.17 3,350,799.17 0.00 -3,350,799.17 -3,350,799.17 0.00 -400,000.00 400,000.00 0.00 -400,000.00 -400,000.00 0.00 -20,416.83 20,416.83 0.00 -20,416.83 -20,416.83 0.00 -9,781.94 9,781.94 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -397,668.00 0.00 0.00 0.00 -3,350,799.17 3,350,799.17 0.00 0.00 -3,350,799.17 0.00 0.00 0.00 -400,000.00 400,000.00 0.00 0.00 -400,000.00 0.00 0.00 0.00 -20,416.83 20,416.83 0.00 0.00 -20,416.83 0.00 0.00 0.00 -9,781.94 9,781.94 0.00 0.00 99.417000 99.417000 l.000000000 98.552916 98.552916 1.000000000 98.552916 98.552916 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMl00 BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ -------------------------------------------------~ -------------------------------------------------------- LIQUID OPER-PIMCO 9,781.94 DREYFUS TREASURY CASH MGMT 04-MAY-1999 -9,781.94 -9,781.94 1.000000 99608524 7 04-MAY-1999 -9,781.94 0.00 1.000000 FC 04-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 21,931.00 DREYFUS TREASURY CASH MGMT 05-MAY-1999 -21, 931. 00 -21,931.00 1.000000 996085247 05-MAY-1999 21,931.00 21,931.00 1.000000 B -----------0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 21,931.00 DREYFUS TREASURY CASH MGMT 05-MAY-1999 -21, 931. 00 -21,931.00 1.000000 996085247 05-MAY-1999 -21, 931. 00 0.00 1.000000 FC 05-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 2,385.11 DREYFUS TREASURY CASH MGMT 05-MAY-1999 -2,385.11 -2,385.11 1.000000 996085247 05-MAY-1999 2,385.11 2,385.11 1.000000 B ---------~ 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 2,385.11 DREYFUS TREASURY CASH MGMT 05-MAY-1999 -2,385.11 -2,385.11 1.000000 996085247 05-MAY-1999 -2,385.11 0.00 1.000000 FC 05-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 25,216.67 DREYFUS TREASURY CASH MGMT 11-MAY-1999 -25,216.67 -25,216.67 1.000000 99608524 7 11-MAY-1999 25,216.67 25,216.67 1.000000 B -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 25,216.67 DREYFUS TREASURY CASH MGMT 11-MAY-1999 -25,216.67 -25,216.67 1.000000 99608524 7 11-MAY-1999 -25,216.67 0.00 1.000000 FC 11-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 84,096.87 DREYFUS TREASURY CASH MGMT 14-MAY-1999 -84,096.87 -84,096.87 1.000000 996085247 14-MAY-1999 84,096.87 84,096.87 1.000000 B -----------0.00 0.00 1.000000000 Page 4 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 84,096.87 DREYFUS TREASURY CASH MGMT 996085247 FC LIQUID OPER-PIMCO 54,388.33 DREYFUS TREASURY CASH MGMT 99608524 7 B LIQUID OPER-PIMCO 54,388.33 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 2,427,235.32 DREYFUS TREASURY CASH MGMT 996085247 B LONG TERM OPER-PIMCO 2,427,235.32 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 201,249.77 DREYFUS TREASURY CASH MGMT 996085247 B LONG TERM OPER-PIMCO 201,249.77 DREYFUS TREASURY CASH MGMT 996085247 FC LIQUID OPER-PIMCO 10,920.00 DREYFUS TREASURY CASH MGMT 996085247 14-MAY-1999 14-MAY-1999 14-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 20-MAY-1999 20-MAY-1999 20-MAY-1999 20-MAY-1999 20-MAY-1999 25-MAY-1999 25-MAY-1999 Page 5 -84,096.87 -84,096.87 0.00 -54,388.33 54,388.33 0.00 -54,388.33 -54,388.33 0 .00 -2,427,235.32 2,427,235.32 0.00 -2,427,235.32 -2,427,235.32 0.00 -201,249.77 201,249.77 0.00 -201,249.77 -201,249.77 0.00 -10,920.00 10,920.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 -84,096.87 0.00 0.00 0.00 -54,388.33 54,388.33 0.00 0.00 -54,388.33 0.00 0.00 0.00 -2,427,235.32 2,427,235.32 0.00 0.00 -2,427,235.32 0.00 0.00 0.00 -201,249.77 201,249.77 0.00 0.00 -201,249.77 0.00 0.00 0.00 -10,920.00 10,920.00 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE Ol-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER B LIQUID OPER-PIMCO 10,920.00 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 5,657.44 DREYFUS TREASURY CASH MGMT 996085247 B LONG TERM OPER-PIMCO 5,657.44 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 3,592.06 DREYFUS TREASURY CASH MGMT 996085247 B LONG TERM OPER-PIMCO 3,592.06 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 25,518.75 DREYFUS TREASURY CASH MGMT 996085247 B LONG TERM OPER-PIMCO 25,518.75 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 27-MAY-1999 27-MAY-1999 27-MAY-1999 27-MAY-1999 27-MAY-1999 BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 0.00 -10,920.00 -10,920.00 0.00 -5,657.44 5,657.44 0.00 -5,657.44 -5,657.44 0.00 -3,592.06 3,592.06 0.00 -3,592.06 -3,592.06 0.00 -25,518.75 25,518.75 0.00 -25,518.75 -25,518.75 0.00 2,377,420.68 BSDT-LATE MONEY DEP ACCT 17-MAY-1999 -2,377,420.68 Page 6 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 0.00 -10,920.00 0. 0-0 0.00 0.00 -5,657.44 5,657.44 0.00 0.00 -5,657.44 0.00 0.00 0.00 -3,592.06 3,592.06 0.00 0.00 -3,592.06 0.00 0.00 0.00 -25,518.75 25,518.75 0.00 0.00 -25,518.75 0.00 0.00 0.00 -2,377,420.68 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 1.000000000 1.000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ BASE: USO TMlOO LOCAL PRICE/ ID/ DESCRIPTION/ ODE BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS BASE PRICE/ BASE XRATE/ 996087094 VAR RT DD 06/26/1997 B U.S. DOLLAR FIXED INCOME SECURITIES LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA SF MTG 01N060643 6.000% 04/15/2029 FC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 FC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 BC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA SF MTG 01N060668 6.000% 06/15/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 FC LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO 10,500,000.00 COMMIT TO FUR GNMA SF MTG 01N062656 6.500% 05/15/2029 B LEHMAN BROS INC, NJ 17-MAY-1999 17-MAY-1999 04-MAR-1999 22-APR-1999 22-APR-1999 14-APR-1999 24-MAY-1999 24-MAY-1999 14-APR-1999 24-MAY-1999 14-APR-1999 24-MAY-1999 07-MAY-1999 23-JUN-1999 25-FEB-1999 24-MAY-1999 24-MAY-1999 25-FEB-1999 24-MAY-1999 Page 7 ------ 2, 377,420.68 0.00 -6,009,765.63 -6,009,765.63 0.00 -6,095,703.13 -6,095,703.13 0.00 -6,095,703.13 6,095,703.13 0.00 6,095,703.13 -6,095,703.13 0.00 -6,011,718.75 6,0ll,718.75 0.00 -10,385,156.25 -10,385,156.25 0.00 -10,385,156.25 10,385,156.25 0.00 2,377,420.68 0.00 0.00 -6,009,765.63 0.00 0.00 0.00 -6,095,703.13 0.00 0.00 0.00 -6,095,703.13 6,095,703.13 0.00 0.00 6,095,703.13 -6,095,703.13 0.00 0.00 -6,011,718.75 6,011,718.75 0.00 0.00 -10,385,156.25 0.00 0.00 0.00 -10,385,156.25 10,385,156.25 0.00 0.00 1.000000 1.000000000 96 .156250 96 .156250 1.000000000 97.531250 97.531250 1.000000000 97.531250 97.531250 1.000000000 97.531250 97.531250 l.000000000 96.187500 96.187500 l.000000000 98.906250 98.906250 1.000000000 98.906250 98.906250 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ BASE: USO TMlOO LOCAL PRICE/ ID/ DESCRIPTION/ ODE BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS BASE PRICE/ BASE XRATE/ LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 BC LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO 10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062664 6.500% 06/15/2029 B LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO PUR FNMA SF MTG 11F011644 5.940% 04/25/2029 BC 2,230,000.00 11F011644 FC 2,230,000.00 11F011651 FC PRUDENTIAL SECURITIES INC LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG 5.940% 04/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG 5.812% 05/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,000,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 5.812% 05/25/2029 FC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 B BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA SF MTG llF011651 VAR RT 05/25/2029 BC BEAR STEARNS & CO INC, NY 25-FEB-1999 24-MAY-1999 14-MAY-1999 23-JUN-1999 12-MAR-1999 26-APR-1999 15-MAR-1999 26-APR-1999 26-APR-1999 14-APR-1999 25-MAY-1999 25-MAY-1999 14-APR-1999 25-MAY-1999 25-MAY-1999 14-APR-1999 25-MAY-1999 14-APR-1999 25-MAY-1999 Page 8 10,385,156.25 -10,385,156.25 0.00 -10,329,375.00 10,329,375.00 0.00 2,005,625.00 -2,005,625.00 0.00 -2,236,968.75 -2,236,968.75 0.00 -2,242,543.75 -2,242,543.75 0.00 -2,012,500.00 -2,012,500.00 0.00 -2,242,543.75 2,242,543.75 0.00 2,242,543.75 -2,242,543.75 0.00 10,385,156.25 -10,385,156.25 0.00 0.00 -10,329,375.00 10,329,375.00 0.00 0.00 2,005,625.00 -2,005,625.00 0.00 0.00 -2,236,968.75 0.00 0.00 0.00 -2,242,543.75 0.00 0.00 0.00 -2,012,500.00 0.00 0.00 0.00 -2,242,543.75 2,242,543.75 0.00 0.00 2,242,543.75 -2,242,543.75 0.00 0.00 98.906250 98.906250 1.000000000 98.375000 98.375000 1.000000000 100.281250 100.281250 1.000000000 100.312500 100.312500 1.000000000 100.562500 100.562500 1.000000000 100.625000 100.625000 1.000000000 100.562500 100.562500 1.000000000 100.562500 100.562500 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 2,000,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO FUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 BC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 2,000,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 BC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 BC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,000,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B GOLDMAN SACHS & CO, NY 14-APR-1999 25-MAY-1999 14-APR-1999 25-MAY-1999 ll-MAY-1999 24-JUN-1999 ------------ 11-MAY-1999 24-JUN-1999 ----------- 11-MAY-1999 24-JUN-1999 --------·--- ll-MAY-1999 24-JUN-1999 ----------- 11-MAY-1999 24-JUN-1999 ----------- 11-MAY-1999 24-JUN-1999 ----------- Page 9 -2,012,500.00 2,012,500.00 0.00 2,012,500.00 -2,012,500.00 0.00 -2,008,750.00 2,008,750.00 0.00 2,008,750.00 -2,008,750.00 0.00 -2,236,968.75 2,236,968.75 0.00 -2,236,968.75 2,236,968.75 0.00 2,236,968.75 -2,236,968.75 0.00 -2,008,750.00 2,008,750.00 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -2,012,500.00 2,012,500.00 0.00 0.00 2,012,500.00 -2,012,500.00 0.00 0.00 -2,008,750.00 2,008,750.00 0.00 0.00 2,008,750.00 -2,008,750.00 0.00 0.00 -2,236,968.75 2,236,968.75 0.00 0.00 -2,236,968.75 2,236,968.75 0.00 0.00 2,236,968.75 -2,236,968.75 0.00 0.00 -2,008,750.00 2,008,750.00 0.00 100.625000 100.625000 1.000000000 100.625000 100.625000 1.000000000 100.437500 100.437500 1.000000000 100.437500 100.437500 1.000000000 100.312500 100.312500 l.000000000 100.312500 100.312500 1.000000000 100.312500 100.312500 1.000000000 100.437500 100.437500 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 1,270,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 730,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B GOLDMAN SACHS & CO, NY 730,000.00 llF011677 B 1,000,000.00 3134A3RT5 B -1,000,000.00 3134A3RT5 BC 1,000,000.00 3134A3RT5 B LONG TERM OPER-PIMCO COMMIT TO PUR FNMA 11TH VAR RT 07/01/2029 GOLDMAN SACHS & CO, NY LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DEBS FLTG RT 05/18/2000 DD 05/18/99 MERRILL LYNCH PIERCE FENNER SM LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DEBS FLTG RT 05/18/2000 DD 05/18/99 MERRILL LYNCH PIERCE FENNER SM LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DEBS FLTG RT 05/18/2000 DD 05/18/99 MERRILL LYNCH PIERCE FENNER SM LIQUID OPER-PIMCO ll-MAY-1999 24-JUN-1999 ll-MAY-1999 24-JUN-1999 28-MAY-1999 26-JUL-1999 12-MAY-1999 18-MAY-1999 12-MAY-1999 18-MAY-1999 12-MAY-1999 18-MAY-1999 1,000,000.00 3134A3RT5 FC FEDERAL HOME LN MTG CORP DEBS 12-MAY-1999 FLTG RT 05/18/2000 DD 05/18/99 18-MAY-1999 MERRILL LYNCH, FIX INCOME OPER 18-MAY-1999 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 12-MAR-1999 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 Page 10 -1,275,556.25 1,275,556.25 0.00 -733,193.75 733,193.75 0.00 -725,893.75 725,893.75 0.00 -999,200.00 999,200.00 0.00 999,200.00 -999,200.00 0.00 -999,200.00 999,200.00 0.00 -999,200.00 -999,200.00 0.00 91,102.46 -91,102.46 BASE: USO TMl00 LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 -1,275,556.25 1,275,556.25 0.00 0.00 -733,193.75 733,193.75 0.00 0.00 -725,893.75 725,893.75 0.00 0.00 -999,200.00 999,200.00 0.00 0.00 999,200.00 -999,200.00 0.00 0.00 -999,200.00 999,200.00 0.00 0.00 -999,200.00 0.00 0.00 0.00 91,102.46 -91,102.46 100.437500 100.437500 l.000000000 100.437500 100.437500 l.000000000 99.437500 99.437500 1.000000000 99.920000 99.920000 l.000000000 99.920000 99.920000 l.000000000 99.920000 99.920000 l.000000000 99.920000 99.920000 1.000000000 100.281250 100.281250 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMl00 BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ---------------------------------------------------------------------------------------------------------- BC PRUDENTIAL SECURITIES INC -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 12-MAR-1999 386.86 386.86 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.281250 IBC ---·-------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 12-MAR-1999 91,102.46 91,102.46 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 -91,102.46 -91,102.46 100.281250 BC PRUDENTIAL SECURITIES INC -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 12-MAR-1999 370.01 370.01 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.281250 IBC -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 12-MAR-1999 91,472.47 91,472.47 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 91,472.47 0.00 100.281250 FCC PRUDENTIAL SECURITIES INC 26-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 12-MAR-1999 -91,102.46 -91,102.46 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 91,102.46 91,102.46 · 100.281250 B PRUDENTIAL SECURITIES INC --·-------·--0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 12-MAR-1999 -370.01 -370.01 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.281250 IB -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 12-MAR-1999 -91,472 .47 -91,472.47 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 -91,472.47 0.00 100.281250 FC PRUDENTIAL SECURITIES INC 26-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -2,000,000.00 LONG ISLAND LTG CO DEB 28-APR-1999 2,151,250.00 2,151,250.00 107.562500 Page 11 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER 542671CT7 8.200% 03/15/2023 DD 03/28/93 BC BNY CAPITAL MARKETS INC, NEW Y LONG TERM OPER-PIMCO -2,000,000.00 LONG ISLAND LTG CO DEB 542671CT7 8.200% 03/15/2023 DD 03/28/93 IBC LONG TERM OPER-PIMCO 2,000,000.00 LONG ISLAND LTG CO DEB 542671CT7 8.200% 03/15/2023 DD 03/28/93 03-MAY-1999 28-APR-1999 03-MAY-1999 ---------~- 28-APR-1999 03-MAY-1999 B BNY CAPITAL MARKETS INC, NEW Y ----------- LONG TERM OPER-PIMCO 2,000,000.00 LONG ISLAND LTG CO DEB 28-APR-1999 542671CT7 8.200% 03/15/2023 DD 03/28/93 03-MAY-1999 IB ----------- LONG TERM OPER-PIMCO 2,000,000.00 LONG ISLAND LTG CO DEB 28-APR-1999 542671CT7 8.200% 03/15/2023 DD 03/28/93 03-MAY-1999 FC MORGAN STANLEY & CO INC, NY 03-MAY-1999 LONG TERM OPER-PIMCO 8,500,000.00 US TREASURY NOTES 13-MAY-1999 9128274H2 05.500% 05/31/2003 DD 05/31/98 14-MAY-1999 B BARCLAYS BANK, NEW YORK ----------- LONG TERM OPER-PIMCO 8,500,000.00 US TREASURY NOTES 13-MAY-1999 9128274H2 05.500% 05/31/2003 DD 05/31/98 14-MAY-1999 IB ---------- LONG TERM QPER-PIMCO 8,500,000.00 US TREASURY NOTES 13-MAY-1999 9128274H2 05.500% 05/31/2003 DD 05/31/98 14-MAY-1999 FC BARCLAYS BANK, NEW YORK 14-MAY-1999 LONG TERM OPER-PIMCO Page 12 -2,151,250.00 0.00 21,866.67 0.00 0.00 -2,151,250.00 2,151,250.00 0.00 -21,866.67 0.00 0.00 -2,173,116.67 -2,173,116.67 0.00 -8,529,882.81 8,529,882.81 0.00 -211,916.21 0.00 0.00 -8,741,799.02 -8,741,799.02 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE / -2,151,250.00 0.00 0.00 21,866.67 0.00 0.00 0.00 -2,151,250.00 2,151,250.00 0.00 0.00 -21,866.67 0.00 0.00 0.00 -2,173,116.67 0.00 0.00 0.00 -8,529,882.81 8,529,882.81 0.00 0.00 -211, 916.21 0.00 0.00 0.00 -8,741,799.02 0.00 0.00 0.00 107.562500 1.000000000 107.562500 107.562500 1.000000000 107.562500 107.562500 l.000000000 107.562500 107.562500 1.000000000 107.562500 107.562500 l.000000000 100.351562 100.351562 1.000000000 100.351562 100.351562 l.000000000 100.351562 100.351562 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER 6,200,000.00 US TREASURY NOTES 25-MAY-1999 9128274H2 05.500% 05/31/2003 DD 05/31/98 26-MAY-1999 B DEUTSCHE MORGAN GRENFELL, NEW LONG TERM OPER-PIMCO 6,200,000.00 US TREASURY NOTES 25-MAY-1999 9128274H2 05.500% 05/31/2003 DD 05/31/98 26-MAY-1999 IB LONG TERM OPER-PIMCO 6,200,000.00 US TREASURY NOTES 25-MAY-1999 9128274H2 05.500% 05/31/2003 DD 05/31/98 26-MAY-1999 FC DEUTSCHE MORGAN GRENFELL, NEW 26-MAY-1999 5,000,000.00 9128275F5 B LONG TERM OPER-PIMCO US TREASURY NOTES 05.250% 05/15/2004 DD LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO 07-MAY-1999 05/15/99 17-MAY-1999 5,000,000.00 US TREASURY NOTES 07-MAY-1999 9128275F5 05.250% 05/15/2004 DD 05/15/99 17-MAY-1999 IB LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 9128275F5 05.250% 05/15/2004 DD BC LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 9128275F5 05.250% 05/15/2004 DD IBC LONG TERM OPER-PIMCO 5,000,000.00 US TREASURY NOTES 9128275F5 05.250% 05/15/2004 DD B LEHMAN BROS INC, NJ 07-MAY-1999 05/15/99 17-MAY-1999 07-MAY-1999 05/15/99 17-MAY-1999 07-MAY-1999 05/15/99 17-MAY-1999 Page 13 -6,192,734.38 6,192,734.38 0.00 -165,815.94 0.00 0.00 -6,358,550.32 -6,358,550.32 0.00 -4,992,368.85 4,992,368.85 0.00 -1,426.63 0.00 0.00 4,992,368.85 -4,992,368.85 0.00 1,426.63 0.00 0.00 -4,992,350 .00 4,992,350 .00 0.00 ~ BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -6,192,734.38 6,192,734.38 0.00 0.00 -165,815 .94 0 .00 0.00 0.00 -6,358,550.32 0.00 0.00 0.00 -4,992,368.85 4,992,368.85 0.00 0.00 -1,426.63 0.00 0.00 0.00 4,992,368.85 -4,992,368.85 0.00 0.00 1,426.63 0.00 0.00 0.00 -4,992,350.00 4,992,350.00 0.00 0.00 99.882813 99. 882813 1.000000000 99. 882813 99.882813 1.000000000 99.882813 99.882813 1.000000000 99.847377 99.847377 l.000000000 99.847377 99.847377 1.000000000 99.847377 99.847377 1.000000000 99.847377 99.847377 1.000000000 99.847000 99.847000 l.000000000 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ -------------------------------------------------------------------------------------------------------- LONG TERM OPER-PIMCO 5,000,000.00 US TREASURY NOTES 07-MAY-1999 -1,426.63 -1,426.63 99.847000 9128275F5 05.250% 05/15/2004 DD 05/15/99 17-MAY-1999 0.00 0.00 99.847000 IB -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 5,000,000.00 US TREASURY NOTES 07-MAY-1999 -4,993,776.63 -4,993,776.63 99.847000 9128275F5 05.250% 05/15/2004 DD 05/15/99 17-MAY-1999 -4,993,776.63 0.00 99.847000 FC LEHMAN BROS INC, NJ 17-MAY-1999 0.00 0.00 1.000000000 0.00 PAY UPS U.S. DOLLAR FIXED INCOME SECURITIES LONG TERM OPER-PIMCO 12.50 FHLMC MULTICLASS CTF E3 A Ol-MAY-1999 -12.50 -12.50 100.000000 3133TCE95 6.324% 08/15/2032 Ol-MAY-1999 12.50 12.50 100.000000 PU -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 12.50 FHLMC MULTICLASS CTF E3 A 01-MAY-1999 -12.50 -12.50 100.000000 3133TCE95 6.324% 08/15/2032 01-MAY-1999 -12.50 0.00 100.000000 FC 27-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 11,408.92 FHLMC MULTICLASS CTF SER 1620Z Ol-MAY-1999 -11,408.92 -11,408.92 100.000000 3133Tl7A4 6.000% 11/15/2023 DD 11/01/93 Ol-MAY-1999 11,408.92 11,408.92 100.000000 PU -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 11,408.92 FHLMC MULTICLASS CTF SER 1620Z 01-MAY-1999 -11,408.92 -11,408.92 100.000000 3133Tl7A4 6.000% 11/15/2023 DD 11/01/93 01-MAY-1999 -11,408 .92 0.00 100.000000 FC 18-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 30,900.00 US TREASURY INFLATION INDEX NT 15-JAN-1999 -30,900.00 -30,900.00 100.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 15-JAN-1999 30,900.00 30,900.00 100.0 00000 PU -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 30,900.00 US TREASURY INFLATION INDEX NT 15-JAN-1999 -30,900.00 -30,900.00 100.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 15-JAN-1999 -30,900 .00 0.00 100.000000 Page 14 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER SALES U.S. FC 28-MAY-1999 LONG TERM OPER-PIMCO 21,420.00 US TREASURY INFLATION INDEX NT 15-JAN-1999 9128273A8 3.625% 07/15/2002 DD 07/15/97 15-JAN-1999 PU ------------- LONG TERM OPER-PIMCO 21,420.00 US TREASURY INFLATION INDEX NT 15-JAN-1999 9128273A8 3.625% 07/15/2002 DD 07/15/97 15-JAN-1999 FC DOLLAR CASH & CASH EQUIVALENTS -1,400,000.00 07815KTQ8 s LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/24/1999 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -1,400,000.00 BELLSOUTH TELECOM DISC 07815KTQ8 06/24/1999 IS -1,400,000.00 07815KTQ8 FC -500,000.00 313588GA7 s LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/24/1999 GOLDMAN SACHS & CO, NY LIQUID OPER-PIMCO FEDERAL NATL MTG ASSN DISC MAT 05/25/1999 MORGAN STANLEY & CO INC, NY LIQUID OPER-PIMCO -500,000.00 FEDERAL NATL MTG ASSN DISC 313588GA7 MAT 05/25/1999 IS 28-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 Page 15 0.00 -21,420.00 21,420.00 0.00 -21,420.00 -21,420.00 0.00 1,393,252.00 -1,393,252.00 0.00 1,278.28 0.00 0.00 1,394,530.28 1,394,530.28 0.00 494,151.67 -494,151.67 0.00 5,386.52 0.00 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 0 .00 -21,420.00 21,420.00 0.00 0.00 -21,420.00 0.00 0.00 0.00 1,393,252.00 -1,393,252.00 0.00 0.00 1,278.28 0.00 0.00 0.00 1,394,530.28 0.00 0.00 0.00 494,151.67 -494,151.67 0.00 0.00 5,386.52 0.00 0.00 0.00 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 99.518000 99.518000 1.000000000 99.518000 99.518000 1.000000000 99.518000 99.518000 1.000000000 98.830334 98.830334 1.000000000 98.830334 98.830334 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LIQUID OPER-PIMCO -500,000.00 FEDERAL NATL MTG ASSN DISC 313588GA7 MAT 05/25/1999 FC MORGAN STANLEY & CO INC, NY -1,600,000.00 34539UUS9 s LONG TERM OPER-PIMCO FORD MTR CR CO DISC 07/26/1999 LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO -1,600,000.00 FORD MTR CR CO DISC 34539UUS9 07/26/1999 IS LONG TERM OPER-PIMCO FORD MTR CR CO DISC 07/26/1999 -1,600,000.00 34539UUS9 FC LEHMAN COML PAPER INC (LGSI), -4,800,000.00 34539UUS9 s LONG TERM OPER-PIMCO FORD MTR CR CO DISC 07/26/1999 MERRILL LYNCH PIERCE LONG TERM OPER-PIMCO -4,800,000.00 FORD MTR CR CO DISC 34539UUS9 07/26/1999 IS LONG TERM OPER-PIMCO -4,800,000.00 FORD MTR CR CO DISC 34539UUS9 07/26/1999 FENNER SM FC MERRILL LYNCH GOVT SECS/MONEY 18-MAY-1999 18-MAY-1999 18-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 -400,000.00 99358V390 s LONG TERM OPER-PIMCO LEHMAN BROTHERS REPO 04.780% 05/05/1999 DD LEHMAN BROS INC, NJ 05-MAY-1999 05/04/99 05-MAY-1999 Page 16 499,538.19 499,538.19 0.00 1,580,030.22 -1,580,030.21 0.01 1,900.45 0.00 0 .00 1,581,930.67 1,581,930.67 0.00 4,740,090.67 -4,740,090.62 0.05 14,549.33 0.00 0.00 4,754,640.00 4,754,640.00 0.00 400,000.00 -400,000.00 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 499,538.19 0.00 0.00 0.00 1,580,030.22 -1,580,030.21 0.01 0.00 1,900.45 0.00 0.00 0.00 1,581,930.67 0.00 0.00 0.00 4,740,090.67 -4,740,090.62 0.05 0.00 14,549.33 0.00 0.00 0.00 4,754,640.00 0.00 0.00 0.00 400,000.00 -400,000.00 0.00 0.00 98.830334 98.830334 1.000000000 98.751888 98.751888 1.000000000 98.751888 98.751888 1.000000000 98.751888 98.751888 1.000000000 98.751888 98.751888 1.000000000 98.751888 98.751888 1.000000000 98.751888 98.751888 1.000000000 100.000000 100.000000 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO -400,000.00 LEHMAN BROTHERS REPO 05-MAY-1999 99358V390 04.780% 05/05/1999 DD 05/04/99 05-MAY-1999 IS -400,000.00 99358V390 FC LONG TERM OPER-PIMCO LEHMAN BROTHERS REPO 04.780% 05/05/1999 DD LEHMAN BROS INC, NJ 05-MAY-1999 05/04/99 05-MAY-1999 05-MAY-1999 LONG TERM OPER-PIMCO -499,292.17 DREYFUS TREASURY CASH MGMT 996085247 s LONG TERM OPER-PIMCO -499,292.17 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO -387,058.56 DREYFUS TREASURY CASH MGMT 996085247 s LONG TERM OPER-PIMCO -387,058.56 DREYFUS TREASURY CASH MGMT 996085247 FC LIQUID OPER-PIMCO -1.70 DREYFUS TREASURY CASH MGMT 99608524 7 s LIQUID OPER-PIMCO -1.70 DREYFUS TREASURY CASH MGMT 996085247 FC 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 04-MAY-1999 04-MAY-1999 04-MAY-1999 04-MAY-1999 04-MAY-1999 07-MAY-1999 07-MAY-1999 07-MAY-1999 07-MAY-1999 07-MAY-1999 Page 17 BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 53 .11 0.00 0.00 400,053.11 400,053.11 0.00 499,292.17 -499,292.17 0.00 499,292.17 499,292.17 0.00 387,058.56 -387,058.56 0.00 387,058.56 387,058.56 0.00 1. 70 -1.70 0.00 1. 70 1. 70 0.00 BASE: USO TMl00 LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 53 .11 0.00 0.00 0.00 400,053.11 0.00 0.00 0.00 499,292.17 -499,292.17 0.00 0.00 499,292.17 0.00 0.00 0.00 387,058.56 -387,058.56 0.00 0.00 387,058.56 0.00 0.00 0.00 1. 70 -1.70 0.00 0.00 1. 70 0.00 0.00 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ --------------------------------------------------------------~-------------------------------------------- 0.00 LONG TERM OPER-PIMCO -10.20 DREYFUS TREASURY CASH MGMT 07-MAY-1999 10.20 10.20 1.000000 99608524 7 07-MAY-1999 -10.20 -10.20 1.000000 s -----------0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -10.20 DREYFUS TREASURY CASH MGMT 07-MAY-1999 10.20 10.20 1.000000 996085247 07-MAY-1999 10.20 0.00 1.000000 FC 07-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -284,749.31 DREYFUS TREASURY CASH MGMT 17-MAY-1999 284,749.31 284,749.31 1.000000 996085247 17-MAY-1999 -284,749.31 -284,749.31 1.000000 s -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -284,749.31 DREYFUS TREASURY CASH MGMT 17-MAY-1999 284,749.31 284,749.31 1.000000 996085247 17-MAY-1999 284,749.31 0.00 1.000000 FC 17-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO -99,661.81 DREYFUS TREASURY CASH MGMT 18-MAY-1999 99,661.81 99,661.81 1.000000 996085247 18-MAY-1999 -99,661.81 -99, 661. 81 1.000000 s -----------0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO -99,661.81 DREYFUS TREASURY CASH MGMT 18-MAY-1999 99,661.81 99,661.81 1.000000 99608524 7 18-MAY-1999 99,661.81 0.00 1.000000 FC 18-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -2,175,601.13 DREYFUS TREASURY CASH MGMT 19-MAY-1999 2,175,601.13 2,175,601 .13 1 .000000 996085247 19-MAY-1999 -2,175,601.13 -2,175,601 .13 1.000000 s -----------0.00 0.00 1.000000000 0 .00 LONG TERM OPER-PIMCO -2,175,601.13 DREYFUS TREASURY CASH MGMT 19-MAY-1999 2,175,601.13 2,175,601.13 1.000000 996085247 19-MAY-1999 2,175,601.13 0.00 1.000000 Page 18 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 VALUE ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE ODE BROKER FC LONG TERM OPER-PIMCO -94,026.67 DREYFUS TREASURY CASH MGMT 996085247 s LONG TERM OPER-PIMCO -94,026.67 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO -120,048.83 DREYFUS TREASURY CASH MGMT 996085247 s LONG TERM OPER-PIMCO -120,048.83 DREYFUS TREASURY CASH MGMT 99608524 7 FC LONG TERM OPER-PIMCO -2,377,420.68 BSDT-LATE MONEY DEP ACCT 996087094 VAR RT DD 06/26/1997 s U.S. DOLLAR FIXED -6,250,000.00 01N060643 s -6,250,000.00 01N060643 FC INCOME SECURITIES LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 04/15/2029 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 04/15/2029 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO LOCAL AMOUNT/ COST/ GAIN LOSS BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 19-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 24-MAY-1999 24-MAY-1999 24-MAY-1999 24-MAY-1999 24-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 14-APR-1999 22-APR-1999 14-APR-1999 22-APR-1999 22-APR-1999 Page 19 0.00 94,026.67 -94,026.67 0.00 94,026.67 94,026.67 0.00 120,048.83 -120,048.83 0.00 120,048.83 120,048.83 0.00 2,377,420.68 -2,377,420.68 0.00 6,102,294.93 -6,009,765.63 92,529.30 6,102,294.93 6,102,294.93 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 0.00 94,026.67 -94,026.67 0.00 0.00 94,026.67 0.00 0.00 0.00 120,048.83 -120,048.83 0.00 0.00 120,048.83 0.00 0.00 0.00 2,377,420.68 -2,377,420.68 0.00 0.00 6,102,294.93 -6,009,765.63 92,529.30 0.00 6,102,294.93 0.00 0.00 0.00 l.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 97.636700 97.636700 1.000000000 97.636700 97. 636700 l.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ BASE: USO TMl00 LOCAL PRICE/ ID/ DESCRIPTION/ ODE BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS BASE PRICE/ BASE XRATE/ -6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 S GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 SC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 S GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 FC GOLDMAN SACHS & CO, NY -10,500,000.00 01N062656 s LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 05/15/2029 LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO 10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 SC LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 S SALOMON BROS INC, NEW YORK LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 FC SALOMON BROS INC, NEW YORK 07-MAY-1999 24-MAY-1999 07-MAY-1999 24-MAY-1999 07-MAY-1999 24-MAY-1999 07-MAY-1999 24-MAY-1999 24-MAY-1999 14-MAY-1999 24-MAY-1999 14-MAY-1999 24-MAY-1999 14-MAY-1999 24-MAY-1999 14-MAY-1999 24-MAY-1999 24-MAY-1999 6,018,310.55 -6,095,703.13 -77,392.58 -6,018,310.55 6,095,703.13 77,392.58 6,018,310.55 -6,095,703.13 -77,392.58 6,018,310.55 6,018,310.55 0.00 10,342,500.00 -10,385,156.25 -42,656.25 -10,342,500.00 10,385,156.25 42,656.25 10,342,500.00 -10,385,156.25 Page 20 -42,656.25 10,342,500.00 10,342,500.00 0.00 6,018,310.55 -6, 095, 703 .13 -77,392.58 0.00 -6,018,310.55 6,095,703.13 77,392.58 0.00 6,018,310.55 -6,095,703.13 -77,392.58 0.00 6,018,310.55 0.00 0.00 0.00 10,342,500.00 -10,385,156.25 -42,656.25 0.00 -10,342,500.00 10,385,156.25 42,656.25 0.00 10,342,500.00 -10,385,156.25 -42,656.25 0.00 10,342,500.00 0.00 0.00 0.00 96.292968 96.292968 l.000000000 96.292968 96.292968 l .000000000 96. 292968 96.292968 1.000000000 96.292968 96.292968 1.000000000 98.500000 98.500000 l.000000000 98.500000 98.500000 l.000000000 98.500000 98.500000 1.000000000 98.500000 98.500000 l.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA SF MTG 11F011644 VAR RT 04/25/2029 SC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,000,000.00 COMMIT TO PUR FNMA SF MTG 11F011644 VAR RT 04/25/2029 SC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO FUR FNMA SF MTG 11F011644 VAR RT 04/25/2029 S BEAR STEARNS & CO INC, NY LONG TERM OFER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA SF MTG 11F011644 VAR RT 04/25/2029 FC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO FUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 S BEAR STEARNS & CO INC, NY 2,230,000.00 11F011651 SC -2,000,000.00 11F011651 s 2,000,000.00 11F011651 SC LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 05/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 05/25/2029 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 05/25/2029 GOLDMAN SACHS & CO, NY 14-APR-1999 26-APR-1999 14-APR-1999 26-APR-1999 14-APR-1999 26-APR-1999 14-APR-1999 26-APR-1999 26-APR-1999 ll-MAY-1999 25-MAY-1999 ll-MAY-1999 25-MAY-1999 ll-MAY-1999 25-MAY-1999 ll-MAY-1999 25-MAY-1999 Page 21 -2,243,676.17 2,236,639.26 -7,036.91 -2,013,515.63 2,005,954.49 -7,561.14 2,243,676.17 -2,236,968.75 6,707.42 2,243,676.17 2,243,676.17 0.00 2,237,752.73 -2,243,202.73 -5,450.00 -2,237,752.73 2,243,202.73 5,450.00 2,009,453.13 -2, 011, 841. 02 -2,387.89 -2,009,453.13 2,011,841.02 2,387.89 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -2,243,676.17 2,236,639.26 -7,036.91 0.00 -2,013,515.63 2,005,954.49 -7,561.14 0.00 2,243,676.17 -2,236,968.75 6,707.42 0.00 2,243,676.17 0.00 0.00 0.00 2,237,752.73 -2,243,202.73 -5,450.00 0.00 -2,237,752.73 2,243,202.73 5,450.00 0.00 2,009,453.13 -2,011,841.02 -2,387.89 0.00 -2,009,453.13 2,011,841.02 2,387.89 0.00 100.613281 100.613281 l.000000000 100.675782 100.675782 1.000000000 100.613281 100.613281 1.000000000 100. 613281 100.613281 l.000000000 100.347656 100.347656 l.000000000 100.347656 100.347656 l.000000000 100.472656 100.472656 1.000000000 100.472656 100.472656 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 S BEAR STEARNS & CO INC, NY -2,230,000.00 11F011651 FC -2,000,000.00 11F011651 s LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 05/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 05/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 FC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -1,270,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 s BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 s BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 SC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 s BEAR STEARNS & CO INC, NY ll-MAY-1999 25-MAY-1999 ll-MAY-1999 25-MAY-1999 25-MAY-1999 ll-MAY-1999 25-MAY-1999 11-MAY-1999 25-MAY-1999 25-MAY-1999 14-MAY-1999 24-JUN-1999 ----------- 14-MAY-1999 24-JUN-1999 ----------- 14-MAY-1999 24-JUN-1999 ----------- 14-MAY-1999 24-JUN-1999 --------- Page 22 2,237,752.73 -2,243,202.73 -5,450.00 2,237,752.73 2,237,752.73 0.00 2,009,453.13 -2,011,841.02 -2,387.89 2,009,453.13 2,009,453.13 0.00 1,273,968.75 -1,274,323.64 -354.89 2,236,968.75 -2,237,890.44 -921.69 -2,236,968.75 2,237,890.44 921.69 2,236,968.75 -2,238,584.83 -1,616.08 BASE: USD TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 2,237,752.73 -2,243,202.73 -5,450.00 0.00 2,237,752.73 0.00 0.00 0.00 2,009,453.13 -2,011,841.02 -2,387.89 0.00 2,009,453.13 0.00 0.00 0.00 1,273,968.75 -1,274,323.64 -354.89 0.00 2,236,968.75 -2,237,890.44 -921.69 0.00 -2,236,968.75 2,237,890.44 921. 69 0.00 2,236,968.75 -2,238,584.83 -1,616.08 100.347656 100.347656 1.000000000 100.347656 100.347656 1.000000000 100.472656 100.472656 1.000000000 100. 4 72656 100.472656 1.000000000 100.312500 100.312500 1.000000000 100.312500 100.312500 1.000000000 100 .312500 100.312500 1.000000000 100.312500 100.312500 1.000000000 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ----------------------~~----~---------------------------------------------~-------------------------- 0.00 . LONG TERM OPER-PIMCO -730,000.00 COMMIT TO PUR FNMA 11TH COFI 28-MAY-1999 726,378.52 726,378.52 99.503906 11F011669 VAR RT 06/25/2029 24-JUN-1999 -733,091.21 -733, 091. 21 99.503906 s GOLDMAN SACHS & CO, NY -----------6,712.69 -6,712.69 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 14-APR-1999 -91,460.88 -91,460 .88 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 91,102.46 91,102.46 100.675781 SC GOLDMAN SACHS & CO, NY ------------358.42 -358.42 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 14-APR-1999 -370.01 -370.01 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.675781 ISC -----------0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 14-APR-1999 -91,830.89 -91,830.89 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 -91,830.89 0.00 100.675781 FCC GOLDMAN SACHS & CO, NY 26-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 14-APR-1999 91,460.88 91,460.88 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 -91,102.46 -91,102.46 100.675781 s GOLDMAN SACHS & CO, NY -----------358.42 358.42 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 14-APR-1999 370.01 370.01 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.675781 IS -----------0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 14-APR-1999 91,830.89 91,830.89 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 91,830.89 0.00 100.675781 FC GOLDMAN SACHS & CO, NY 26-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -809,188.55 FNMA POOL #0047935 14-APR-1999 814,656.89 814,656.89 100.675781 313612HLO 5.839% 05/01/2027 DD 05/01/87 26-APR-1999 -811, 464. 39 -811,464.39 100.675781 Page 23 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER ------- s GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -809,188.55 FNMA POOL #0047935 14-APR-1999 313612HL0 5.839% 05/01/2027 DD 05/01/87 26-APR-1999 IS ----------- LONG TERM OPER-PIMCO -809,188.55 FNMA POOL #0047935 14-APR-1999 313612HL0 5.839% 05/01/2027 DD 05/01/87 26-APR-1999 FC GOLDMAN SACHS & CO, NY 26-APR-1999 LONG TERM OPER-PIMCO -366,757.31 FNMA POOL #0062938 14-APR-1999 31362J4X0 5.839% 03/01/2027 DD 06/01/88 26-APR-1999 s GOLDMAN SACHS & CO, NY --------~- LONG TERM OPER-PIMCO -366,757.31 FNMA POOL #0062938 14-APR-1999 31362J4X0 5.839% 03/01/2027 DD 06/01/88 26-APR-1999 IS --~------ LONG TERM OPER-PIMCO -366,757.31 FNMA POOL #0062938 14-APR-1999 31362J4X0 5.839% 03/01/2027 DD 06/01/88 26-APR-1999 FC GOLDMAN SACHS & CO, NY 26-APR-1999 LONG TERM OPER-PIMCO -514,435.31 FNMA POOL #0190012 14-APR-1999 31368HAM5 VAR RT 11/01/2027 DD 09/01/93 26-APR-1999 FC GOLDMAN SACHS & CO, NY 26-APR-1999 LONG TERM OPER-PIMCO BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS ------ 3, 192. 50 3,291.82 0.00 0.00 817,948.71 817,948.71 0.00 369,235.79 -367,788.81 1,446.98 1,491 .99 0.00 0 .00 370,727.78 370,727.78 0.00 520,004.52 520,004.52 0.00 -8,500,000.00 9128272S0 s US TREASURY NOTES 13-MAY-1999 06.625% 04/30/2002 DD 04/30/97 14-MAY-1999 BARCLAYS BANK, NEW YORK ----------- 8,804,472.66 -8,865,156.26 LONG TERM OPER-PIMCO -8,500,000.00 US TREASURY NOTES 13-MAY-1999 Page 24 -60,683.60 21,423.23 BASE: USO TMl00 LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 3,192.50 0.00 3,291.82 0.00 0.00 0.00 817,948.71 0 .00 0 .00 0 .00 369,235.79 -367,788.81 1,446.98 0.00 1,491.99 0.00 0.00 0.00 370,727.78 0.00 0.00 0.00 520,004.52 0.00 0.00 0.00 8,804,472.66 -8,865,156.26 -60,683.60 0.00 21,423.23 1.000000000 100.675781 100.675781 1.000000000 100.675781 100.675781 l.000000000 100.675781 100.675781 1.000000000 100.675781 100.675781 1.000000000 100.675781 100.675781 1.000000000 100.675781 100.675781 1.000000000 103.582031 103.582031 1.000000000 103.582031 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ------------------------------------------------------- 9128272SO 06.625% 04/30/2002 DD 04/30/97 14-MAY-1999 0.00 0.00 103.582031 IS -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -8,500,000.00 US TREASURY NOTES 13-MAY-1999 8,825,895.89 8,825,895.89 103.582031 9128272SO 06.625% 04/30/2002 DD 04/30/97 14-MAY-1999 8,825,895.89 0.00 103.582031 FC BARCLAYS BANK, NEW YORK 14-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 25-MAY-1999 4,959,765.63 4,959,765.63 99.195313 9128275F5 05.250% 05/15/2004 DD 05/15/99 26-MAY-1999 -4,992,350.00 -4,992,350.00 99 .195313 s DEUTSCHE MORGAN GRENFELL, NEW ------------32,584.37 -32,584.37 l.000000000 0.00 LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 25-MAY-1999 7,846.47 7,846.47 99 .195313 9128275F5 05.250% 05/15/2004 DD 05/15/99 26-MAY-1999 0.00 0.00 99.195313 IS -----------0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 25-MAY-1999 4,967,612.10 4,967,612.10 99.195313 9128275F5 05.250% 05/15/2004 DD 05/15/99 26-MAY-1999 4,967,612.10 0.00 99 .195313 FC DEUTSCHE MORGAN GRENFELL, NEW 26-MAY-1999 0.00 0.00 1.000000000 0.00 PRINCIPAL PAYMENTS U.S. DOLLAR FIXED INCOME SECURITIES LONG TERM OPER-PIMCO -125,510.67 CHASE MANHATTAN GRAN 95-B CL A 15-MAY-1999 125,510.67 125,510.67 100.000000 161614AE2 5.900% 11/15/2001 DD 11/15/95 15-MAY-1999 -125,250.83 -125,250.83 100.000000 PD -----------259 .84 259.84 l.000000000 0.00 LONG TERM OPER-PIMCO -125,510.67 CHASE MANHATTAN GRAN 95-B CL A 15-MAY-1999 125,510.67 125,510.67 100.000000 161614AE2 5.900% 11/15/2001 DD 11/15/95 15-MAY-1999 125,510.67 0.00 100.000000 FC 17-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -781,146.66 FHLMC GROUP #G5-0476 01-MAY-1999 781,146.66 781,146.66 100.000000 3128DDQ55 7.000% 02/01/2003 DD 02/01/98 01-MAY-1999 -793,352.08 -793,352.08 100.000000 PD ------------12,205.42 -12,205.42 l.000000000 0.00 Page 25 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO -781,146.66 FHLMC GROUP #G5-0476 3128DDQ55 7.000% 02/01/2003 DD FC 01-MAY-1999 02/01/98 01-MAY-1999 17-MAY-1999 LONG TERM OPER-PIMCO 83,351.50 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PDC LONG TERM OPER-PIMCO -24.00 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PD LONG TERM OPER-PIMCO 24.00 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PDC LONG TERM OPER-PIMCO -83,364.00 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PD LONG TERM OPER-PIMCO -83,364.00 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 FC LONG TERM OPER-PIMCO -80,370.50 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PD LONG TERM OPER-PIMCO -45,668.70 FHLMC MULTICL MTG P/C 1574 E 3133T02D5 5.900% 06/i5/2017 PD Ol-APR-1999 01-APR-1999 Ol-APR-1999 Ol-APR-1999 Ol-APR-1999 01-APR-1999 Ol-APR-1999 Ol-APR-1999 Ol-APR-1999 01-APR-1999 17-MAY-1999 Ol-MAY-1999 Ol-MAY-1999 Ol-MAY-1999 Ol-MAY-1999 Page 26 BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 781,146.66 781,146.66 0.00 -83,351.50 83,442.67 91.17 24.00 -24.03 -0.03 -24.00 24.03 0.03 83,364.00 -83,455.18 -91.18 83,364.00 83,364.00 0.00 80,370.50 -80,458.40 -87.90 45,668.70 -45,604.48 64.22 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 781,146.66 0.00 0.00 0.00 -83,351.50 83,442.67 91.17 0.00 24.00 -24.03 -0.03 0.00 -24.00 24.03 0.03 0.00 83,364.00 -83,455.18 -91.18 0.00 83,364.00 0.00 0.00 0.00 80,370.50 -80,458.40 -87.90 0.00 45,668.70 -45,604.48 64.22 100.000000 100.000000 l.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 l.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 45,668.70 FHLMC MULTICL MTG P/C 1574 E 3133T02D5 5.900% 06/15/2017 PDC LONG TERM OPER-PIMCO -45,668.70 FHLMC MULTICL MTG P/C 1574 E 3133T02D5 5.900% 06/15/2017 PD LONG TERM OPER-PIMCO -45,668.70 FHLMC MULTICL MTG P/C 1574 E 3133T02D5 5.900% 06/15/2017 FC LONG TERM OPER-PIMCO 01-MAY-1999 01-MAY-1999 Ol-MAY-1999 Ol-MAY-1999 Ol-MAY-1999 Ol-MAY-1999 17-MAY-1999 -16,584.26 FIFTH THIRD BK AUTO TR 96A CLA 15-MAY-1999 31677EAA4 6.200% 09/01/2001 DD 03/15/96 15-MAY-1999 PD ----------- LONG TERM OPER-PIMCO -16,584.26 31677EAA4 FC FIFTH THIRD BK AUTO TR 96A CLA 15-MAY-1999 6.200% 09/01/2001 DD 03/15/96 15-MAY-1999 17-MAY-1999 LONG TERM OPER-PIMCO -61,476.40 GNMA II POOL #0080023 01-MAY-1999 36225CAZ9 7.000% 12/20/2026 DD 12/01/96 Ol-MAY-1999 PD LONG TERM OPER-PIMCO 61,476.40 GNMA II POOL #0080023 36225CAZ9 7.000% 12/20/2026 DD PDC LONG TERM OPER-PIMCO Ol-MAY-1999 12/01/96 01-MAY-1999 -61,478.65 GNMA II POOL #0080023 01-MAY-1999 36225CAZ9 7.000% 12/20/2026 DD 12/01/96 Ol-MAY-1999 Page 27 BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS -45,668.70 45,604.48 -64.22 45,668.70 -45,604.48 64.22 45,668.70 45,668.70 0.00 16,584.26 -16,584.26 0.00 16,584.26 16,584.26 0.00 61,476.40 -62,494.60 -1,018.20 -61,476.40 62,494.60 1,018.20 61,478.65 -62,496.89 BASE: USD TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 -45,668.70 45,604.48 -64.22 0.00 45 ,-668. 70 -45,604.48 64.22 0.00 45,668.70 0.00 0.00 0.00 16,584.26 -16,584.26 0.00 0.00 16,584.26 0.00 0 .00 0 .00 61,476.40 -62,494.60 -1,018.20 0.00 -61,476.40 62,494.60 1,018.20 0.00 61,478.65 -62,496.89 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ -----~-------------------------------------------------------------------------------------------------- PD ------·------1,018.24 -1,018.24 l.000000000 0.00 LONG TERM OPER-PIMCO -61,478.65 GNMA II POOL #0080023 01-MAY-1999 61,478.65 61,478.65 100.000000 36225CAZ9 7.000% 12/20/2026 DD 12/01/96 01-MAY-1999 61,478.65 0.00 100.000000 FC 20-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -111,643.57 GNMA II POOL #080088M 01-MAY-1999 111,643.57 111,643.57 100.000000 36225CC20 6.875% 06/20/2027 DD 06/01/97 01-MAY-1999 -114,085.77 -114, 085. 77 100.000000 PD ------------2,442.20 -2,442.20 1.000000000 0.00 LONG TERM OPER-PIMCO 111,643.57 GNMA II POOL #080088M 01-MAY-1999 -111, 643. 57 -111,643.57 100.000000 36225CC20 6.875% 06/20/2027 DD 06/01/97 01-MAY-1999 114,085.77 114,085.77 100.000000 PDC -----------2,442.20 2,442.20 1.000000000 0.00 LONG TERM OPER-PIMCO -114,408.04 GNMA II POOL #080088M 01-MAY-1999 114,408.04 114,408.04 100.000000 36225CC20 6.875% 06/20/2027 DD 06/01/97 01-MAY-1999 -116, 910. 72 -116, 910. 72 100.000000 PD ------·------2,502.68 -2,502.68 1.000000000 0.00 LONG TERM OPER-PIMCO -114,408.04 GNMA II POOL #080088M 01-MAY-1999 114,408.04 114,408.04 100.000000 36225CC20 6.875% 06/20/2027 DD 06/01/97 01-MAY-1999 114,408.04 0.00 100.000000 FC 20-MAY-1999 0.00 0.00 1.000000000 0.00 MATURITIES U.S. DOLLAR CASH & CASH EQUIVALENTS LONG TERM OPER-PIMCO -900,000.00 DU PONT DE NEMOUR DISC 25-MAY-1999 891,702.75 891,702.75 100.000000 26354BSR4 05/25/1999 25-MAY-1999 -891,702.75 -891,702.75 100.000000 MT BOND MATURITY 25-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO -2,450,000.00 FEDERAL HOME LN MTG CORP DISC 04-MAY-1999 2,421,732.45 2,421,732.45 100.000000 313396FDO MAT 05/04/1999 04-MAY-1999 -2,421,732.45 -2,421,732.45 100.000000 MT BOND MATURITY 04-MAY-1999 0.00 0.00 1.000000000 0.00 Page 28 ATED MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 VALUE ID/ DESCRIPTION/ ODE BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS LIQUID OPER-PIMCO -400,000.00 FEDERAL HOME LN MTG CORP DISC 313396FT5 MAT 05/18/1999 MT BOND MATURITY LIQUID OPER-PIMCO -900,000.00 FEDERAL NATL MTG ASSN DISC 313588GA7 MAT 05/25/1999 MT BOND MATURITY LONG TERM OPER-PIMCO -1,300,000.00 FORD MTR CR CO DISC 34539USM5 05/21/1999 MT BOND MATURITY LIQUID OPER-PIMCO -900,000.00 GENERAL ELEC CAP DISC 36959JS53 05/05/1999 MT BOND MATURITY 18-MAY-1999 18-MAY-1999 18-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 05-MAY-1999 05-MAY-1999 05-MAY-1999 U.S. DOLLAR FIXED INCOME SECURITIES LIQUID OPER-PIMCO -3,300,000.00 US TREASURY NOTES 912827X72 06.375% 05/15/1999 MT BOND MATURITY 15-MAY-1999 DD 05/15/96 15-MAY-1999 15-MAY-1999 INTEREST U.S. DOLLAR LONG TERM OPER-PIMCO 2,000,000.00 066365DW4 IT BANKERS TR NY CORP GLOBAL NT ll-MAY-1999 FLTG RT 05/11/2003 DD 05/11/98 ll-MAY-1999 LONG TERM OPER-PIMCO 1,305,000.00 BEAR STEARNS COS INC SR NTS 073902AW8 6.750% 05/01/2001 DD 04/26/96 IT LONG TERM OPER-PIMCO ll-MAY-1999 03-MAY-1999 Ol-MAY-1999 03-MAY-1999 125,510.67 CHASE MANHATTAN GRAN 95-B CL A 17-MAY-1999 Page 29 394,464.44 -394,464.44 0.00 889,473.00 -889,473.00 0.00 1,291,976.83 -1,291,976.83 0.00 888,840.00 -888,840.00 0.00 3,300,000.00 -3,325,265.63 -25,265.63 25,216.67 25,216.67 0.00 44,043.75 44,043.75 0.00 5,625.09 BASE: USD TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 394,464.44 -394,464.44 0.00 0.00 889,473.00 -889,473.00 0.00 0.00 1,291,976.83 -1,291,976.83 0.00 0.00 888,840.00 -888,840.00 0.00 0.00 3,300,000.00 -3,325,265.63 -25,265.63 0.00 25,216.67 0.00 0.00 0.00 44,043.75 0.00 0.00 0.00 5,625.09 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 l.000000000 0.000000 0.000000 1.000000000 0.000000 0.000000 1.000000000 0.000000 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USD 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST / INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ------------------------------------~-----------------------------------------------------~------------- 161614AE2 5.900% 11/15/2001 DD 11/15/95 15-MAY-1999 5,625.09 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 3,500,000.00 CHRYSLER FIN MTN 19-MAY-1999 13,794.87 13,794.87 0.000000 17120QE80 FLTG RT 08/08/2002 DD 04/08/98 15-MAY-1999 13,794.87 0.00 0.000000 IT 19-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 900,000.00 DU PONT DE NEMOUR DISC 25-MAY-1999 8,297.25 8,297.25 0.000000 26354BSR4 05/25/1999 25-MAY-1999 8,297.25 0.00 0.000000 IT 25-MAY-1999 0 .00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 500,000.00 DUKE ENERGY CORP 1ST & REF MTG 03-MAY-1999 20,000.00 20,000.00 0.000000 264399DB9 8.000% 11/01/1999 DD 11/01/94 01-MAY-1999 20,000.00 0.00 0.000000 IT 03-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 781,146.66 FHLMC GROUP #G5-0476 17-MAY-1999 67,641.34 67,641.34 0.000000 3128DDQ55 7.000% 02/01/2003 DD 02 /01/98 01-MAY-1999 67,641.34 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 83,364.00 FHLMC MULTICLASS CTF E3 A 17-MAY-1999 19,577.20 19,577.20 0.000000 3133TCE95 6.324% 08/15/2032 01-APR-1999 19,577.20 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 12.50 FHLMC MULTlCLASS CTF E3 A 27-MAY-1999 12.50 12.50 0 .000000 3133TCE95 6.324% 08/15/2032 Ol-APR-1999 12.50 0.00 0.000000 IT 27-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 2,000,000.00 FHLMC MULTICLASS CTF Tll A6 25-MAY-1999 10,833.33 10,833.33 0 .000000 3133TDPV2 6.500% 09/25/2018 25-APR-1999 10,833.33 0.00 0.000000 IT 25-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO Page 30 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ------------------~------------------------------------------------------------------------------------- 45,668.70 FHLMC MULTICL MTG P/C 1574 E 17-MAY-1999 4,603.20 4,603.20 0.000000 3133T02D5 5.900% 06/15/2017 01-MAY-1999 4,603.20 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 11,408.92 FHLMC MULTICLASS CTF SER 1620Z 18-MAY-1999 11,408.92 11,408.92 0.000000 3133T17A4 6.000% 11/15/2023 DD 11/01/93 01-MAY-1999 11,408.92 0.00 0.000000 IT 18-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 2,450,000.00 FEDERAL HOME LN MTG CORP DISC 04-MAY-1999 28,267.55 28,267.55 0.000000 313396FDO M~T 05/04/1999 04-MAY-1999 28,267.55 0.00 0.000000 IT 04-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 400,000.00 FEDERAL HOME LN MTG CORP DISC 18-MAY-1999 5,535.56 5,535.56 0.000000 313396FT5 MAT 05/18/1999 18-MAY-1999 5,535.56 0.00 0.000000 IT 18-MAY-1999 0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO 900,000.00 FEDERAL NATL MTG ASSN DISC 25-MAY-1999 10,527.00 10,527.00 0.000000 313588GA7 MAT 05/25/1999 25-MAY-1999 10,527.00 0.00 0.000000 IT 25-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 16,584.26 FIFTH THIRD BK AUTO TR 96A CLA 17-MAY-1999 898.38 898.38 0.000000 31677EAA4 6.200% 09/01/2001 DD 03/15/96 15-MAY-1999 898.38 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 1,300,000.00 FORD MTR CR CO DISC 21-MAY-1999 8,023.17 8,023.17 0.000000 34539USM5 05/21/1999 21-MAY-1999 8,023 .17 0.00 0.000000 IT 21-MAY-1999 0 .00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 2,000,000.00 FORD MTR CR CO TERM ENHANCED 27-MAY-1999 25,518.75 25,518.75 0.000000 345397SC8 FLTG RT 08/27/2006 DD 08/27/98 27-MAY-1999 25,518.75 0.00 0.000000 IT 27-MAY-1999 0.00 0.00 1.000000000 0.00 Page 31 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ---------------------------------------------------------------------------------------------------------- LONG TERM OPER-PIMCO 61,478.65 GNMA II POOL #0080023 20-MAY-1999 9,721.05 9,721.05 0.000000 36225CAZ9 7.000% 12/20/2026 DD 12/01/96 Ol-MAY-1999 9,721.05 0.00 0.000000 IT 20-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 114,408.04 GNMA II POOL #080088M 20-MAY-1999 15,642.03 15,642.03 0.000000 36225CC20 6.875% 06/20/2027 DD 06/01/97 01-MAY-1999 15,642.03 0.00 0.000000 IT 20-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 900,000.00 GENERAL ELEC CAP DISC 05-MAY-1999 11,160.00 11,160.00 0.000000 36959JS53 05/05/1999 05-MAY-1999 11,160.00 0.00 0.000000 IT 05-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 1,250,000.00 GENERAL MTRS ACCEP CORP NTS 03-MAY-1999 44,531.25 44,531.25 0.000000 370425QFO 7.125% 05/01/2001 DD 05/01/97 Ol-MAY-1999 44,531.25 0.00 0.000000 IT 03-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 3,950,000.00 GENERAL MTRS ACCEP CORP NTS 18-MAY-1999 49,814.64 49,814.64 0.000000 370425QV5 FLTG RT 08/18/2003 DD 08/17/98 18-MAY-1999 49,814.64 0.00 0.000000 IT 18-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 1,000,000.00 HOUSEHOLD FIN MTN SR #00570 04-MAY-1999 12,941.44 12,941.44 0.000000 44181KZT4 FLTG RT 08/01/2001 DD 09/04/98 02-MAY-1999 12,941.44 0.00 0.000000 IT 04-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 2,005,000.00 SEARS ROEBUCK ACCEP CORP MTN 17-MAY-1999 65,563.50 65,563.50 0.000000 81240QGW6 6.540% 02/20/2003 DD 02/20/97 15-MAY-1999 65,563.50 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 5,200,000.00 US TREASURY BONDS 17-MAY-1999 308,750.00 308,750.00 0.000000 912810DG0 11.875% 11/15/2003 DD 10/05/83 15-MAY-1999 308,750.00 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 Page 32 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 0l-MAY-1999 -31-MAY-1999 TMl00 BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE / --------------------------------------------------------------------------------------------------------- LONG TERM OPER-PIMCO 2,500,000.00 US TREASURY BONDS 17-MAY-1999 165,625.00 165,625.00 0.000000 912810DJ4 13.250% 05/15/2014 DD 05/15/84 15-MAY-1999 165,625.00 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 17,100,000.00 US TREASURY NOTES 17-MAY-1999 641,250.00 641,250.00 0.000000 912827D25 07.500% 11/15/2001 DD 11/15/91 15-MAY-1999 641,250.00 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO 3,300,000.00 US TREASURY NOTES 17-MAY-1999 105,187.50 105,187.50 0.000000 912827X72 06.375% 05/15/1999 DD 05/15/96 15-MAY-1999 105,187.50 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -13,100.00 US TREASURY INFLATION INDEX NT 30-APR-1999 -13,100.00 -13,100.00 0.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 15-JAN-1999 -13,100.00 0.00 0.000000 ITC 30-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX NT 30-APR-1999 13,500.00 13,500.00 0.000000 9128272M3 3 .375% 01/15/2007 DD 01/15/97 30-APR-1999 13,500.00 0.00 0.000000 CD RECD INTEREST FOR APRIL 30-APR-1999 0.00 0.00 1.000000000 0 .00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX NT 30-APR-1999 -13,500.00 -13,500.00 0.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 30-APR-1999 -13,500.00 0.00 0 .000000 CDC TO REVERSE 30-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX NT 30-APR-1999 13,100.00 13,100.00 0.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 30-APR-1999 13,100.00 0.00 0.000000 CD RECEIVED INTEREST 30-APR-1999 0.00 0.00 1.000000000 PAYABLE 04/30 /99 0.00 LONG TERM OPER-PIMCO 30,900.00 US TREASURY INFLATION INDEX NT 28-MAY-1999 30,900.00 30,900 .00 0.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 15-JAN-1999 30,900.00 0 .00 0.000000 IT 28-MAY-1999 0.00 0 .00 l.000000000 Page 33 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMl00 BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ------------------------------------------~-------------------------------------------------------------- 0.00 LONG TERM OPER-PIMCO -9,030.00 US TREASURY INFLATION INDEX NT 30-APR-1999 -9,030.00 -9,030.00 0.000000 9128273A8 3.625% 07/15/2002 DD 07/15/97 15-JAN-1999 -9,030.00 0.00 0.000000 ITC 30-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX NT 30-APR-1999 9,030.00 9,030.00 0.000000 9128273A8 3.625% 07/15/2002 DD 07/15/97 30-APR-1999 9,030.00 0.00 0.000000 CD RECEIVED INTEREST 30-APR-1999 0.00 0.00 1.000000000 PAYABLE 04/30/99 0.00 LONG TERM OPER-PIMCO 21,420.00 US TREASURY INFLATION INDEX NT 28-MAY-1999 21,420.00 21,420.00 0.000000 9128273A8 3.625% 07/15/2002 DD 07/15/97 15-JAN-1999 21,420.00 0.00 0.000000 IT 28-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 0.00 DREYFUS TR~ASURY CASH MGMT 03-MAY-1999 416.83 416.83 0.000000 996085247 01-MAY-1999 416.83 0.00 0.000000 IT 03-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 0.00 DREYFUS TREASURY CASH MGMT 03-MAY-1999 3,318.83 3,318.83 0.000000 996085247 0l-MAY-1999 3,318.83 0.00 0.000000 IT 03-MAY-1999 0.00 0.00 1.000000000 0.00 Page 34 ROLL CALL FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE Meeting Date: June 9, 1999 Time: 5:00 p.m. c: Adjourn: ____ _ COMMITTEE MEMBERS THOMAS R. SALTARELLI (Chair) ................................................ . MARK LEYES (Vice Chair) .......................................................... .. SHAWN BOYD ••••••.•.....•.••••..••.•.....•••••.•••••••••.•••.••••••..•••.•..•.•••.•••••••• JOHN M. GULLIXSON .................................................................. . SHIRLEY MC CRACKEN .............................................................. . MARK A. MURPHY ...................................................................... .. JAMES W. SILVA .......................................................................... . JAN DEBA Y (Board Chair) .......................................................... .. PEER SWAN (Board Vice Chair) .................................................. . JOHN J. COLLINS (Past Board Chair) ......................................... . OTHERS TOM WOODRUFF, General Counsel .............................................. . TOBY WEISSERT, Carollo Engineers ............................................. ~ STAFF DON MCINTYRE, General Manager ................................................ ~ BLAKE ANDERSON, Assistant General Manager .......................... ~ ED HODGES, Director of General Services Administration ........... ~ DAVID LUDWIN, Director of Engineering....................................... 0/ BOB OOTEN, Director of Operations & Maintenance..................... i,,,/' MIKE PETERMAN, Director of Human Resources.......................... ,_,_,- GARY STREED, Director of Finance ............................................... ~ MICHELLE TUCHMAN, Director of Communications ..................... ---1,L._ PATRICK MILES, Director of Information Technology................... Cl/ ROBERT GHIRELLI, Director of Technical Services ...................... ~ STEVE KOZAK, Financial Manager ................................................ ~ MIKE WHITE, Controller.................................................................. ~ GREG MATHEWS, Assistant to the General Manager.................... ~ LISA TOMKO, Human Resources Manager .................................... ~ DAWN MCKINLEY, Sr. Human Resources Analyst........................ (}./ PENNY KYLE, Committee Secretary............................................... ~ . i i FAHR CO M-MITTEE Meeting Date To Jt. Bds. 06/09/99 06/23/99 AGE NDA REPORT Item NumbK' Item Number P//)f.'if,3 - Orange County Sanitation District FROM: SUBJECT: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager TREASURER'S REPORT FOR THE MONTH OF MAY 1999 GENERAL MANAGER'S RECOMMENDATION Receive and file Treasurer's Report for the month of May 1999. SUMMARY Pacific Investment Management Co. (PIMCO), serves as the District's professional external money manager, and Mellon Trust serves as the District's third-party custodian bank for the investment program. The District's Investment Policy, adopted by the Board, includes reporting requirements as listed down the left most column of the attached PIMCO Monthly Report for the "Liquid Operating Monies" and for the "Long-Term Operating Monies." The District's external money manager is operating in compliance with the requirements of the District's Investment Policy. The District's portfolio contains no reverse repurchase agreements. Historical cost and the current market ("mark-to-market") values are shown as estimated by both PIMCO and Mellon Trust. The slight differences are caused by differing assumptions regarding marketability at the estimate date. PROJECT/CONTRACT COST SUMMARY None. BUDGET IMPACT D This item has been budgeted. D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. IX) Not applicable (information item) \\radon\data1lwp.dtalfin\210\cranelFAHR\Fahr99\June\TREARPT-Jun99.doc Revised: 10/17/97 Page 1 ADDITIONAL INFORMATION Schedules are attached summarizing the detail for both the short-term and long-term investment portfolios. In addition, a consolidated report of posted investment portfolio transactions for the month of May 1999 is attached. The attached yield analysis report is presented as a monitoring and reporting enhancement. In this report, yield calculations based on book values and market values are shown for individual holdings, as well as for each portfolio. Mellon Trust, the District's custod ian bank,, is the source for these reports. Transactions that were pending settlement at month end may not be reflected. The District's investments are in compliance with the District's adopted Investment Policy, and the California Government Code. In addition, sufficient funds are available for the District to meet its operating expenditure requirements for the next six months. The table below details the book balances of the District's funds at month-end. A graphical representation of month-end balances is shown by the attached bar chart. State of Calif. LAIF Union Bank Checking Account Union Bank Overnight Repurchase Agreement PIMCO -Short-term Portfolio PIMCO -Long-term Portfolio District 11 GO Bond Fund 921 Debt Service Reserves @ Trustees Petty Cash TOTAL ALTERNATIVES None. CEQA FINDINGS None. ATTACHMENTS 1. Monthly Investment Reports 2. Monthly Transaction Report GGS:SK:lc \\radon\data1\wp.dtalfin\210\crane\FAHR\Fahl99\June\TREARPT-Jun99.doc Revised: 10/17/97 $29,915,784 358,323 3,342,000 18,779,652 301,141,784 9,230 32,196,818 4,400 $385,747,991 5.0 4.0 4.4 4.5 5.0 6.2 Page2 Prepared by Finance, 6/7/99, 9:03 AM Monthly Treasurer's Report District Fund Balances .,_ > $400,000,000 ---.-------------------------------~ $300,000,000 I 11HHI ~~~~~l ~ ~~~~)<.! ~ ~~~~~I I $200,000,000 +---------k~6'.,Y,~,{!-------l1>C>00<."x't--,----rx><XX)t-----------tll"'>,l"x,,"X,,_\/1-----t,t_ X"x>Cx1--.----fvlv><..,X..r..)t---J $1 00, 000, 000 i -~(n,u·_,(1-------l!)c'l()(X.")(i--.----{XXX)Ot--------ht~,Y-,Y',>0,(t-------lb(;><')(X."){,__ ,--~)\,---~ _v. _v,_ .. ·--1 $0 I t'.VYVV)J CXXXX>f k'S, l> l> l> l> I r X::X: :X:X:>I r X X X X >I 1'YYYY'>4 I Dec, 98 Jan, 99 Feb, 99 1::9 PIMCO -Long-term K, Debt Service Reserves ra Bank Accts ID Dist 11 GO Bond Fund G:\excel.dta\fin\2220\geggi\Finance\monthly treasurers report Mar, 99 Ill PIMCO -Short-term []LAIF II Petty Cash Apr, 99 May, 99 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 31 May 1999) Liquid Operating Monies (603) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • ri~~r • Historical Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST RATE CHANGE Dollar Impact (gain/loss) of 1 % Change: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: ( see attached schedule) 15.1.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: 1 Month: 3 Months: 12 Months: Year-to-Date: H:\... \FINANCE\21 0\KOZAK\SAMPLELIQ0599.RPT ~ $18,782,097 $18,779,652 $18,831,940 $18,831,935 0.37 0.20 $70,171 0% 22% "AA+" 0% Yes Portfolio Index 0.38 0.38 1.24 1.14 5.31 4.76 1.96 1.86 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 31 May 1999) Long-Term Operating Monies (203) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • KI~~r • Historical Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST RATE CHANGE Dollar Impact (gain/loss) of 1 % Change: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: (see attached schedule) 15.1.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1. 7 SECURITIES BELOW "A" RA TING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: 1 Month: 3 Months: 12 Months: Year-to-Date: H: l.. \FINANCE\2 I 0\KOZAK\SAMPLEL-T0599.RPT $302,172,257 $301,141,784 $304,905,185 $306,054,953 2.46 2.37 $7,514,241 0% 6% ''AAA'' 0% Yes Portfolio Index (0.42) (0.39) 0.63 0.76 5.45 5.24 0.33 0.35 OCSF075111 LIQUID OPER-PIMCO PORTFOLIO DISTRIBUTION CASH & CASH EQUIVALENTS COMMERCIAL PAPER -DISCOUNT TREASURY BILLS -LESS THN lYR FEDERAL HOME LOAN MORTGAGE -LE FNMA ISSUES -LESS THN lYR MUTUAL FUNDS TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES U.S. AGENCIES BANKING & FINANCE INDUSTRIAL UTILITY -ELECTRIC TOTAL FIXED INCOME SECURITIES OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES TOTAL OTHER PORTFOLIO ASSETS NET PORTFOLIO ASSETS MELLON TRUST PORTFOLIO SUMMARY BY SECTOR 31-MAY-1999 COST 2,651,631.09 3,350,799.17 2,440,218.06 889,080.00 112,262.87 ------------ 9,443,991.19 4,698,304.60 2,409,~85.50 863,753.00 1,416,501.00 ---~-------- 9,387,944.10 190,085.40 190,085.40 ~.=-~------====~ 19,022,020.69 MARKET VALUE 2,651,631.09 3,350,799.17 2,440,218.06 889,080.00 112,262.87 ------------ 9,443,991.19 4,692,574.00 2,379,720.00 855,576.00 1,407,791.00 ------------ 9,335,661.00 190,085.40 ---------- 190,085.40 % OF TOTAL 13.98% 17.66% 12.86% 4.69% 0.59% ------ 49. 78% 24.74% 12.54% 4.51% 7.42% ------ 49. 21% 1.00% 1.00% 18,969,737.59 100.00% Page 1 UNREALIZED GAIN/LOSS 0.00 0.00 0.00 0.00 0.00 0.00 -5,730.60 -29,665.50 -8,177 .00 -8,710.00 ---------- -52,283.10 0.00 0.00 -52,283.10 ESTIMATED ANNUAL INCOME 0.00 0.00 0.00 0.00 5,166.28 -------- 5,166.28 225,945.00 202,250.00 60,562.50 105,700.00 -------- 594,457 .50 0.00 0.00 599,623.78 .. l' BASE: USO HBllOO CURR YIELD 0.00 0.00 0.00 0.00 4.60 0.05 4.81 8.50 7.08 7.51 6.37 0.00 0.00 3.16 OCSF075222 LONG TERM OPER-PIMCO MELLON TRUST PORTFOLIO SUMMARY BY SECTOR 31-MAY-1999 PORTFOLIO DISTRIBUTION COST CASH & CASH EQUIVALENTS RECEIVABLES 4,317,686.52 PAYABLES -21,312,706.25 COMMERCIAL PAPER -DISCOUNT 7,346,088.68 MUTUAL FUNDS 273,576.71 TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES U.S. GOVERNMENTS U.S. AGENCIES GNMA SINGLE FAMILY POOLS GNMA MULTI FAMILY POOLS FHLMC POOLS FHLMC MULTICLASS FNMA POOLS ASSET BACKED SECURITIES OTHER GOVERNMENT OBLIGATIONS MUTUAL FUNDS BANKING & FINANCE INDUSTRIAL UTILITY -ELECTRIC UTILITY -TELEPHONE TOTAL FIXED INCOME SECURITIES OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES TOTAL OTHER PORTFOLIO ASSETS -9,375,354.34 136,283,536.53 49,211,324.49 16,341,093.75 4,546,637.51 10,983,488.79 6,585,122.07 725,893.75 157,295.93 3,995,792.99 1,000,000.00 60,913,927.57 15,037,689.00 2,151,250.00 7,497,255.00 ----·---------- 315,430,307.38 4,210,340.73 ------------ 4,210,340.73 MARKET VALUE 4,317,686.52 -21,312,706.25 7,346,088.68 273,576.71 ------------- -9,375,354.34 133,932,474.86 48,183,755.48 16,166,247.50 4,531,495.94 10,919,953.53 6,599,845.43 727,036.20 157,867.58 4,020,314.97 991,720.00 60,594,585.94 14,220,491.40 2,002,700.00 7,468,650.00 % OF TOTAL 1.41% -6.98% 2.41% 0.09% ------ -3. 07% 43.86% 15.78% 5.29% 1. 48% 3.58% 2.16% 0.24% 0.05% 1.32% 0.32% 19.84% 4.66% 0.66% 2.45% 310,517,138.83 101.69% 4,210,340.73 1.38% 4,210,340.73 1. 38% UNREALIZED GAIN/LOSS 0.00 0.00 0.00 0.00 0.00 -2,351,061.67 -1,027,569.01 -174,846.25 -15,141.57 -63,535.26 14,723.36 1,142.45 571. 65 24,521.98 -8,280.00 -319,341.63 -817,197.60 -148,550.00 -28,605.00 ------------- -4,913,168.55 0.00 0.00 ESTIMATED ANNUAL INCOME 0.00 0.00 0.00 12,589.86 --------- 12,589.86 8,450,974.44 3,057,467.66 1,057,500.00 308,852.54 757,015.84 404,660.76 42,113.70 9,752.35 231,000.18 62,000.00 3,614,398.85 1,162,527.00 164,000.00 450,000.00 ------------ 19,772,263.32 0.00 0.00 BASE: USO HBllOO CURR YIELD 0.00 0.00 0.00 4.60 -0.13 6.31 6.35 6.54 6.82 6.93 6 .13 5.79 6.18 5.75 6.25 5. 96 8.18 8.19 6.03 6.37 0.00 0.00 =-========-=-··-----------=-------========= ====== =-==-==.:=.======-== =====-===-;:======= ==-===== NET PORTFOLIO ASSETS 310,265,293.77 305,352,125.22 100.00% -4,913,168.55 19,784,853.18 6.48 Page 1 ' YLDANAL YIELD ANALYSIS PAGE l OCSF07511102 1999/05/31 RUN DATE 06/03/99 DISTRICT: LIQUID OPERATING RUN TIME 14.25.24 ---------------·· PAR VALUE YTM AT CURRENT QUALITY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD RATING PRICE MARKET VALUE % TOTAL -------------------------------------------·--------·------------------------------------------ CASH & CASH EQUIVALENTS 112,262.87 DREYFUS TREASURY CASH MGMT .ooo 4.602 AAA 100.000 112,262.87 1.18 996085247 112,262.87 .60 3,400,000.00 US TREASURY BILLS 4.597 .ooo P-1 98.553 3,350,799.17 35.48 912795CN9 09/09/1999 DD 03/11/99 3,350,799.17 17.84 200,000.00 COCA COLA CO DISC 4.842 .ooo P-1 99 .133 198,266.67 2 .09 19121ETB9 06/11/1999 198,266.67 1.06 2,500,000.00 FEDERAL HOME LN MTG CORP DISC 4.846 .ooo P-1 97.609 2,440,218.06 25.83 313396NT6 MAT 11/02/1999 2,440,218.06 12.99 900,000.00 FEDERAL NATL MTG ASSN DISC NT 4.859 .ooo P-1 98.787 889,080.00 9.41 313588KV6 MAT 08/24/1999 889,080.00 4.73 100,000.00 USAA CAP CO~P DISC 4.872 .000 P-1 99.128 693,895.42 7.34 90328BTB7 06/11/1999 693,895.42 3.69 900,000.00 MONSANTO CO DISC 4.901 .ooo P-1 97.933 881,400.00 9.33 61166BWP8 09/23/1999 881,400.00 4.69 900,000.00 GOLDMAN SACHS LP DISC 4.940 .000 P-1 97.563 878,069.00 9.29 38142UY30 11/03/1999 878,069.00 4.68 -------------------------------TOTAL CASH & CASH EQUIVALENTS 4 .631 .090 9,443,991.19 100.00 9,443,991.19 50.28 FIXED INCOME SECURITIES 1,000,000.00 FEDERAL HOM~ LN MTG CORP DEBS .ooo 4.707 AAA 99.953 999,200.00 10.70 3134A3RT5 FLTG RT 05/13/2000 DD 05/18/99 999,530.00 5.32 3,700,000.00 FEDERAL HOME LN BK CONS BOS 4.860 4.844 AAA 99.812 3,699,104.60 39.55 3133M7EW2 4.835% 01/28/2000 DD 01/28/99 3,693,044.00 19.67 500,ooo.oo DUKE ENERGY CORP 1ST & REF MTG 5.001 7.912 AA3 101. 110 511,200.00 5.41 264399DB9 8.000% 11/01/1999 DD 11/01/94 505,550.00 2.69 500,000.00 CHRYSLER FINL CO LLC 5.119 12.883 Al 102.849 529,010.00 5.50 171205AT4 13.250% 10/15/1999 514,245.00 2.74 YLDANAL OCSF07511102 DISTRICT: LIQUID OPERATING YIF.LD ANALYSil'- -1999 /05 /31 PAGE RUN DATE RUN TIME 2 06/03/99 14.25.24 ---------------=---===============-=======================================~=~: --~============================================ PAR VALUE SECURITY ID SECURITY DESCRIPTION 850,000.00 PHILLIP HOAAIS CO INC NTS 718154BX4 7.125% 12/0l/1999 DD 12/01/92 900,000.00 GENERAL MTRS ACCEP CORP MTN 37042M7G2 6.250% Ol/ll/2000 DD 01/11/94 300,000.00 BEAR STEARN COS INC NTS 073902AP3 7.625% 09/15/1999 DD 09/21/94 150,000.00 CITICORP SUB CAP NT 173034DQ9 9.750% 08/01/1999 900,000.00 LONG ISLAND LTG CO DEB 542671CK6 7 .300% 07/15/1999 DD 07/21/92 500,000.00 TRANSAMERICA FIN MTN tSBOOllO 89350MEP1 8.450% 01/12/2000 DD 01/12/95 TOTAL FIXED INCOME SECURITIES TOTAL YTM AT BOOK 5.258 5.305 5.363 5.364 5.419 5.653 ----·-- 4.228 4.396 CURRENT QUALITY YIELD RATING 7.079 A2 6.219 .!1.2 7.581 A2 9.682 Al 7.282 RAA3 8.313 A3 -------5.919 3.491 MARKET PRICE ,------ 100.656 100.496 100.574 100.706 100.249 tOl.646 TOTAL COST/ MARKET VALUE 863,753.00 855,576.00 909,657.00 904,464.00 303,930.00 301,722.00 151,663.50 151,059.00 905,301.00 902,241.00 515,125.00 508,230.00 9,387,944.10 9,335,661.00 18,831,935.29 18,779,652.19 I TYPE % TOTAL 9.16 4.56 9.68 4 .82 3.23 1.61 1. 61 .80 9.66 4.80 5.44 2. 71 100.00 49.72 100.00 100.00 YLDANAL YIELD ANALYSIS PAGE 3 OCSF07522202 1999/05/31 RUN DATE 06/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 14.25.24 -------------------------------------------------------------------------------·.-~--------~----========================== PAR VALUE YTM AT CURRENT QUALITY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD RATING PRICE MARKET VALUE % TOTAL ----------------------------------------------------------------------------------------~-- CASH & CASH EQUIVALENTS 273,576.71 DREYFUS TREASURY CASH MGMT .ooo 4.602 AAA 100.000 273,576.71 3.59 996085247 273,576.71 .09 400,000.00 PROCTER & GAMBLE DISC 4.798 .ooo P-1 99.417 397,668.00 5.21 74271STJ4 06/18/1999 397,668.00 .12 1,400,000.00 BELLSOUTH TELECOM DISC 4,821 .000 P-1 99.573 1,394,026.67 18.29 07815KTN5 06/22/1999 1,394,026.67 .44 900,000.00 GOLDMAN SACHS LP DISC 4.823 .000 P-1 99.321 893,892.75 11.73 38142UTB8 06/11/1999 893,892.75 .28 1,000,000.00 FORD MTR CR CO DISC 4.840 .000 P-1 98.752 987,518.88 12.96 34539UUS9 07/26/1999 987,518.88 .31 800,000.00 BELLSOUTH T~LECOM DISC 4.843 .000 P-1 99.518 796,144.00 10.44 07815KTQ8 06/24/1999 796,144.00 .25 300,000.00 DU PONT DE NEMOUR DISC 4.847 .000 P-1 99.027 297,080.00 3.89 26354BT44 06/04/1999 297,080.00 .09 900,000.00 AMERICAN EX CR CP DISC 4.854 .000 99.704 897,338.00 11.77 02581STG6 06/16/1999 897,338.00 .28 1,300,000.00 NATIONAL RURAL DISC 4.868 .ooo P-1 99.023 1,287,293.94 16.89 63743DTB7 06/11/1999 1,287,293.94 .40 400,000.00 IBM DISC 4.879 .000 P-1 98.782 395,126.44 5.18 45920ETR2 06/25/1999 395,126.44 ,12 ------------------------------------"- TOTAL CASH & CASH EQUIVALENTS 4.505 .311 7,619,665.39 100.00 7,619,665.39 2.38 FIXED INCOME SECURITIES 2,000,000.00 BANKERS TR NY CORP GLOBAL NT .000 5.835 Al 99.320 1,992,800.00 .63 066365DW4 FLTG RT 05/11/2003 DD 05/11/98 1,986,400.00 .62 3,500,000.00 CHRYSLER FIN MTN .ooo 5.072 Al 99.906 3,498,635.00 1.12 l 7120QE80 FLTG RT 08/08/2002 DD 04/08/98 3,496,710.00 1.10 YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING YIELD ANALYSIS 1999/05/31 PAGE RUN DATE RUN TIME 4 06/03/99 14.25.24 ======-==------====-==-==-==--===----=-==--=-==---=--=--=-----=---=--=-==-=-==~ ~====-=--==-==-==-------------------------=== PAR VALUE SECURITY ID SECURITY DESCRIPTION 2,000,000.00 FORD MTR CR CO TERM ENHANCED 345397SC8 FLTG RT 08/27/2006 DD 08/27/98 3,950,000.00 GENERAL MTRS ACCEP CORP NTS 370425QV5 FLTG RT 08/18/2003 DD 08/17/98 4,000,000.00 HELLER FINL MTN 42333HJN3 FLTG RT 06/01/2000 DD 04/07/98 3,000,000.00 HELLER FINL MTN tTR 00246 42333HLF7 FLTG RT 04/28/2003 DD 04/27/99 4,000,000.00 HOUSEHOLD FIN CO MTN 44181KZA5 FLTG RT 06/24/2003 DD 06/24/98 l,000,000.00 HOUSEHOLD FIN MTN SR 100570 44181KZT4 FLTG RT 08/01/2001 DD 09/04/98 4,041,736.17 STUDENT LN MKTG ASSN 1997-1 Al 78442GAK2 VAR RT 10/25/2005 DD 03/20/97 7,211,050.00 us TREASURY INFLATION INDEX NT 9128273A8 3.625% 07/15/2002 DD 07/15/97 10,413,300.00 US TREASURY INFLATION INDEX NT 9128272M3 3.375% 01/15/2007 DD 01/15/97 8,500,000.00 US TREASURY NOTES 9128272G6 06.250% 01/31/2002 DD 01/31/97 19,000,000.00 FEDERAL NATL MTG ASSN MTN 31364CZY7 6.670% 03/27/2002 DD 03/27/97 7,000,000.00 MORGAN STANLEY MTN ETR 00299 61745ENL1 FLTG RT 04/15/2002 DD 04/15/99 5,000,000.00 US TREASURY BONDS 912810DE5 11.125% 08/15/2003 DD 07/05/83 31,500,000.00 US TREASURY NOTES 912827Z54 06.375% 09/30/2001 DD 09/30/96 17,100,000.00 US TREASURY NOTES 912827025 07.500% 11/15/2001 DD 11/15/91 YTM AT BOOK .ooo .ooo .ooo .000 .ooo .000 .000 3.698 3.727 4.179 4.943 5.170 5.234 5.294 5.366 CURRENT QUALITY MARKET YIELD RATING PRICE 5.115 Al 99.101 5,537 A2 99.452 5.227 A3 100.250 5.246 A3 100.210 5.966 A2 99.690 5.757 A2 99.770 5.746 AAA 99.470 3.628 AAA 99.906 3.485 AAA 96.844 6.146 AAA 101.607 6.523 AAA 102.250 5.148 AA3 100.031 9.209 AAA 119.766 6.250 AAA 101.875 7.179 AAA 10~.469 TOTAL COST/ MARKET VALUE 1,998,613.60 1,995,620.00 3,918,768.50 3,920,354.00 4,000,000.00 4,010,000.00 3,000,000.00 3,006,:rno.oo 4,000,000.00 3,907,600.00 999,108.90 997,700.00 3,995,792.99 4,020,314.97 7,107,093.77 7,204,271.61 10,134,275.00 10,004,656.25 9,034,223.67 8,643,395.00 20,012,510.00 19,427,500.00 6,996,129.00 7,002,170.00 6,233,593.75 5,900,300.00 32,509,817.31 32,090,625.00 18,380,684.02 17,864,199.00 % TYPE % TOTAL .64 .63 1.26 1.23 1.29 1.26 .96 .94 1.20 1.25 .32 .31 1.29 1.26 2.32 2.26 3.24 3.17 2.70 2.72 6.25 6.11 2.25 2.20 1.92 1.08 10. 33 10.09 5.75 5.62 YLDANAL YIELD ANALYSIS PAGE 5 OCSF07522202 1999/05/31 RUN DATE 06/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 14.25.24 --------------=---=-==-======---====== ·====-===-====:±========~===================:= PAR VALUE YTM AT CURRENT QUALI'J" MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD RATING PRICE MARKET VALUE % TOTAL ----------------------------------------------------------------------------------------- 5,500,000.00 US TREASURY NOTES 5.402 6.139 AAA 101.812 5,677,682.23 1.80 9128273G5 06.250% 08/31/2002 DD 09/02/97 5,599,660.00 1.76 14,700,000.00 US TREASURY NOTES 5.456 5.535 AAA 99.359 14,722,617.19 4.70 9128274H2 05.500% 05/31/2003 DD 05/31/98 14,605,773.00 4.59 5,200,000.00 US TREASURY BONDS 5.617 9.603 AAA 123.656 6,698,250.00 2.07 912810DGO 11.875% ll/J5/2003 DD 10/05/83 6,430,112.00 2.02 1,500,000.00 ASSOCIATES CORP NA SR NTS 5.650 6.466 AA3 100.533 1,543,215.00 .48 046003HY8 6.500% 07/15/2002 DD 07/11/97 1,507,995.00 .47 730,000.00 COMMIT TO PUR FNMA 11TH 5.742 5.793 AAA 99.594 725,893.75 .23 11F011677 VAR RT 07/01/2029 727,036.20 .23 1,000,000.00 HELLER FINANCIAL INC NTS 5.760 5.812 A3 98.933 999,730.00 .31 42333HKJO 5.750% 09/25/2001 DD 09/25/98 989,330.00 .31 16,100,000.00 US TREASURY NOTES 5.783 6.344 AAA 102.453 16,581,067.03 5.31 9128272Wl 06.500% 05/Jl/2002 DD 06/02/97 16,494,933.00 5.18 2,005,000.00 SEARS ROEBUCK ACCEP CORP MTN 5.804 6.551 A2 99.828 2,060,739.00 .64 81240QGW6 6.540% 02/20/2003 DD 02/20/97 2,001,551.40 .63 5,ooo,ooo.oo US TREASURY NOTES 5.811 6.143 AAA 101.750 5,086,402.25 1.63 9128272L5 06.250% 02/iB/2002 DD 02/28/97 5,087,500.00 1.60 3,000,000.00 SEARS ROEBUCK ACCEP CORP MTN 5.849 6.616 A2 100.218 3,073,170.00 .96 81240QJA1 6.630% 07/09/2002 DD 07/09/97 3,006,540.00 .95 14,750,000.00 FEDERAL NATL MTG ASSN MTN 5.882 6.033 AAA 94.641 14,560,462.50 4.49 31364GLD9 5.710% 12/15/2008 DD 12/15/98 13,959,547.50 4.39 6,000,000.00 NATIONSBANK CHARLOTTE NC MTN 5.882 5.856 AAl 99.906 5,996,400.00 1. 93 63858JDE6 5.850% 04/07/2000 DD 04/07/98 5,994,360.00 1.88 890,576.40 FHLMC MULTICL MTG P/C 1574 E 5.912 5.893 100.125 889,324.02 .28 3133T02D5 5.900% 06/15/2017 891,689.62 .28 1,018,574.48 CHASE MANHATTAN GRAN 95-B CL A 5.957 5.895 AAA 100.087 1,016,465.72 .32 161614AE2 5.900% 11/15/2001 DD 11/15/95 1,019,460.64 .32 2,500,000.00 MERRILL LYNCH NOTES 5.995 6.350 AA3 100.398 2,526,725.00 .BO 59018SXP4 6.375% 10/01/2001 DD 10/03/97 2,509,950.00 .79 YLDANAL YIELD ANALYSIS PAGE 6 OCSF07522202 1999/05/31 RUN DATE 06/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 14.25.24 ------------------==----===----==----------===--====----==-----==----=========; ~==========-===---====--===----==----=-------- PAR VALUE YTM AT CURRENT QUALITY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD RATING PRICE MARKET VALUE % TOTAL -------------------------------------------------------------------------------··------- 7,500,000.00 BELLSOUTH T!LECOMMUNICATIONS 6.010 6.025 AAA 99.582 7,497,255.00 2.40 079867AX5 6.000% 06/15/2002 DD 06/15/98 7,468,650.00 2.35 .1,250,000.00 GENERAL MTRS ACCEP CORP NTS 6.032 6.994 A2 101.875 1,283,862.50 .41 370425QFO 7.125% 05/01/2001 DD 05/01/97 1,273,437.50 .40 1,000,000.00 GENERAL MTRS ACCEP CORP MTN 6.046 6.632 A2 101.031 1,010,520.00 .32 37042WGK1 6.700% 04/30/2001 DD 04/25/96 1,010,310.00 .32 10,500,000.00 COMMIT TO PUR GNMA SF MTG 6.102 6.663 AAA 97.547 10,329,375.00 3.29 01N062664 6.500% 06/1~/2029 10,242,435.00 3.22 2,000,000.00 BANKBOSTON CORP SR NTS 6.133 6.164 A2 99.366 1,999,600.00 .64 06605TAL6 6.125% 03/15/2002 DD 03/12/99 1,987,320.00 .62 157,295.94 FIFTH THIRD BK AUTO TR 96A CLA 6.200 6.178 AAA 100.363 157,295.93 .05 31677EAA4 6.200% 09/01/2001 DD 03/15/96 157,867.58 .05 1,000,000.00 POPULAR INC MTN fTR 00004 6.201 6.252 A3 99 .172 1,000,000.00 .31 73317PAD1 6.200% 04/30/2001 DD 04/21/99 991,720.00 .31 2,500,000.00 LEHMAN BROS HLDGS MTN TR 00252 6.232 6.376 BAAl 100.371 2,509,175.00 .BO 52517PLM1 6.400% 08/30/2000 DD 09/26/97 2,509,275.00 .79 6,250,000.00 COMMIT TO PUR GNMA SF MTG 6.2B1 6.330 AAA 94.781 6,0ll, 718. 75 1.90 01N060668 6.000% 06/15/2029 5,923,812.50 1.86 4,500,000.00 FEDERAL NATL MTG ASSN MTN 6.291 6.163 AAA 101. 094 4,488,705.00 1.46 31364CXV5 6.230% 03/01/2002 DD 03/03/97 4,549,230.00 1.43 3,690,873.18 FHLMC MULTICLASS CTF E3 A 6.316 5.971 AAA 100.782 3,694,910.05 1.19 3133TCE95 6.324% 08/15/2032 3,719,735.81 1.17 2,000,000.00 BEAR STEARNS COS INC 6.330 6.742 A2 100.122 2,031,960.00 .64 073902AH1 6.750% 04/1~/2003 2,002,440.00 .63 5,ooo,ooo.oo LEHMAN BROS HLDGS MTN f00196 6.364 6.632 BAAl 100.265 5,039,450.00 1.61 52517PJD4 6.650% 11/08/2000 DD 11/08/96 5,013,250.00 1. 58 1,305,000.00 BEAR STEARNS COS INC SR NTS 6.425 6.702 A2 100.716 1,317,619.35 .42 073902AW8 6.750% 05/01/2001 DD 04/26/96 1,314,343.80 .41 2,000,000.00 FHLMC MULTICLASS CTF Tll A6 6.496 6.538 AAA 99.421 2,000,888.00 .64 3133TDPV2 6.500% 09/25/2018 1,988,420.00 .63 YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING PAR VALUE SECURITY ID SECURITY DESCRIPTION 2,293,210.93 FHLMC MULTICLASS CTF SER 1620Z 3133Tl7A4 6.000% 11/15/2023 DD 11/01/93 8,000,000.00 FEDERAL NATL MTG ASSN MTN 31364CBD9 6.625% 04/18/2001 DD 04/18/96 9,000,000.00 PHILIP MORRIS COS NT 718154BB2 9.250% 02/15/2000 10,814,512.04 FHLMC GROUP IG5-0476 3128DDQ55 7.000% 02/01/2003 DD 02/01/98 3,000,000.00 GMAC MED TERM NTS 37042RKQ4 8.625% 1/10/2000 DD 1/10/95 2,615,836.80 GNHA II POOL 1080088M 36225CC20 6.875% 06/20/2027 DD 06/01/97 1,843,053.70 GNHA II POOL 10080023 36225CAZ9 7.000% 12/20/2026 DD 12/01/96 2,500,000.00 US TREASURY BONDS 912810DJ4 13.250% 05/15/2014 DD 05/15/84 2,000,000.00 LONG ISLAND LTG CO DEB 542671CT7 8.200% 03/15/2023 DD 03/28/93 TOTAL FIXED INCOME SECURITIES TOTAL YTM AT BOOK ------- 6.554 6.577 6.593 6.628 6.660 6.705 6.869 6.906 7.512 ------- 4.550 4.550 YIELD ANALYSIS 1999/05/31 CURRENT QUALITY YIELD RATING ----------- 6.502 AAA 6.518 AAA 9.037 A2 6.932 AAA 8.477 A2 6.791 AAA 6.850 AAA 8.628 AAA 8.189 BAA3 ------- 6.123 6 .100 MARKET PRICE ----- 92.281 101.641 102.360 100.975 101. 74 2 101.234 102.188 153.562 100.135 PAGE RUN DATE RUN TIME TOTAL COST/ MARKET VALUE ------------ 2,137,070.99 2,116,197.98 8,012,576.00 8,131,280.00 9,903,780.00 9,212,400.00 10,983,488.79 10,919,953.53 3,227,070.00 3,052,260.00 2,673,058.23 2,648,116.23 1,873,579.28 1,883,379.71 4,029,030.31 3,839,050.00 2,151,250.00 2,002,100.00 -----------315,430,307.38 310,517,138.83 ------------ 323,049,972.77 318,136,804.22 7 06/03/99 14.25.24 % TYPE % TOTAL --------- .68 .67 2.61 2.56 2.96 2.90 3.51 3.43 .98 .96 .85 .83 .60 .59 1. 23 1.21 .64 .63 ---------100.00 97.60 ----~----100.00 100.00 ==== MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 VALUE ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE ODE BROKER RECEIPTS AND DISBURSEMENT TRANSACTIONS U.S. DOLLAR OTHER ADMINISTRATIVE EXPENSES LIQUID OPER-PIMCO 0.00 FED WIRE FEES ARPIL NA9123459 cw LONG TERM OPER-PIMCO 0.00 FED WIRE FEES APRIL NA9123459 cw PURCHASES U.S. DOLLAR CASH & CASH EQUIVALENTS LONG TERM OPER-PIMCO 900,000.00 AMERICAN EX CR CP DISC 02581STG6 06/16/1999 B GOLDMAN SACHS & CO, NY 900,000.00 02581STG6 FC 1,400,000.00 07815KTN5 B 1,400,000.00 07815KTN5 FC 2,200,000.00 07815KTQ8 B LONG TERM OPER-PIMCO AMERICAN EX CR CP DISC 06/16/1999 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/22/1999 FIRST CHICAGO CAPITAL MARKETS, LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/22/1999 FIRST CHICAGO CAPITAL MARKETS, LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/24/1999 LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO LOCAL AMOUNT/ COST/ GAIN LOSS BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 06-MAY-1999 06-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 19-MAY-1999 19-MAY-1999 Page 1 -1 .70 -1 .70 0 .00 -10.20 -10.20 0.00 -897,338.00 897,338.00 0.00 -897,338.00 -897,338.00 0.00 -1,394,026.67 1,394,026 .67 0.00 -1,394,026.67 -1,394,026.67 0.00 -2,189,396.00 2,189,396.00 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -1.70 0.00 0.00 0.00 -10.20 0.00 0.00 0.00 -897,338.00 897,338.00 0.00 0.00 -897,338.00 0.00 0.00 0.00 -1,394,026.67 1,394,026.67 0.00 0.00 -1,394,026.67 0.00 0.00 0.00 -2,189,396.00 2,189,396.00 0.00 0.00 0.000000 0.000000 1.000000000 0.000000 0.000000 1.000000000 99.704222 99.704222 1.000000000 99.704222 99.704222 1.000000000 99.573334 99.573334 1.000000000 99.573334 99.573334 1.000000000 99.518000 99.518000 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER 2,200,000.00 BELLSOUTH TELECOM DISC 07815KTQ8 06/24/1999 FC LEHMAN COML PAPER INC (LGSI), LIQUID OPER-PIMCO 19-MAY-1999 19-MAY-1999 19-MAY-1999 2,500,000.00 FEDERAL HOME LN MTG CORP DISC 04-MAY-1999 313396NT6 MAT 11/02/1999 04-MAY-1999 B CREDIT SUISSE FIRST BOSTON COR ----------- LIQUID OPER-PIMCO 2,500,000.00 FEDERAL HOME LN MTG 313396NT6 MAT 11/02/1999 FC CREDIT SUISSE FIRST CORP DISC 04-MAY-1999 04-MAY-1999 BOSTON COR 04-MAY-1999 LIQUID OPER-PIMCO 900,000.00 FEDERAL NATL MTG ASSN DISC NT 313588KV6 MAT 08/24/1999 B MORGAN STANLEY & CO INC, NY LIQUID OPER-PIMCO 900,000.00 FEDERAL NATL MTG ASSN DISC NT 313588KV6 MAT 08/24/1999 FC MORGAN STANLEY & CO INC, NY 900,000.00 38142UY30 B 900,000.00 38142UY30 FC 400,000.00 74271STJ4 B LIQUID OPER-PIMCO GOLDMAN SACHS LP DISC 11/03/1999 GOLDMAN SACHS & CO, NY LIQUID OPER-PIMCO GOLDMAN SACHS LP DISC 11/03/1999 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO PROCTER & GAMBLE DISC 06/18/1999 GOLDMAN SACHS & CO, NY 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 04-MAY-1999 05-MAY-1999 04-MAY-1999 05-MAY-1999 05-MAY-1999 05-MAY-1999 05-MAY-1999 Page 2 -2,189,396.00 -2,189,396.00 0.00 -2,440,218.06 2,440,218.06 0.00 -2,440,218.06 -2,440,218.06 0.00 -889,080.00 889,080.00 0.00 -889,080.00 -889,080.00 0.00 -878,069.00 878,069.00 0.00 -878,069.00 -878,069.00 0.00 -397,668.00 397,668.00 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -2,189,396.00 0.00 0.00 0.00 -2,440,218.06 2,440,218.06 0.00 0.00 -2,440,218.06 0.00 0.00 0.00 -889,080.00 889,080.00 0.00 0.00 -889,080.00 0.00 0.00 0.00 -878,069.00 878,069.00 0.00 0.00 -878,069.00 0.00 0.00 0.00 -397,668.00 397,668.00 0.00 0.00 99.518000 99.518000 l.000000000 97. 608722 97. 608722 l.000000000 97. 608722 97. 608722 l.000000000 98.786666 98.786666 l.000000000 98.786666 98.786666 l.000000000 97.563222 97.563222 l.000000000 97.563222 97.563222 1.000000000 99.417000 99.417000 l.000000000 MELLON TRUST . .. ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMl00 BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ -------------~----------------------------------------------------------------------------------------- LONG TERM OPER-PIMCO 400,000.00 PROCTER & GAMBLE DISC 05-MAY-1999 -397,668.00 -397,668.00 99.417000 74271STJ4 06/18/1999 05-MAY-1999 -397,668.00 0.00 99.417000 FC GOLDMAN SACHS & CO, NY 05-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 3,400,000.00 US TREASURY BILLS 14-MAY-1999 -3,350,799.17 -3,350,799.17 98.552916 912795CN9 09/09/1999 DD 03/11/99 17-MAY-1999 3,350,799.17 3,350,799.17 98.552916 B GOLDMAN SACHS & CO, NY -----------0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 3,400,000.00 US TREASURY BILLS 14-MAY-1999 -3,350,799.17 -3,350,799.17 98.552916 912795CN9 09/09/1999 DD 03/11/99 17-MAY-1999 -3,350,799.17 0.00 98.552916 FC GOLDMAN SACHS & CO, NY 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 400,000.00 LEHMAN BROTHERS REPO 04-MAY-1999 -400,000.00 -400,000.00 100.000000 99358V390 04.780% 05/05/1999 DD 05/04/99 04-MAY-1999 400,000.00 400,000.00 100.000000 B LEHMAN BROS INC, NJ -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 400,000.00 LEHMAN BROTHERS REPO 04-MAY-1999 -400,000.00 -400,000.00 100.000000 99358V390 04.780% 05/05/1999 DD 05/04/99 04-MAY-1999 -400,000.00 0.00 100.000000 FC LEHMAN BROS INC, NJ 04-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 20,416.83 DREYFUS TREASURY CASH MGMT 03-MAY-1999 -20,416.83 -20,416.83 1.000000 996085247 03-MAY-1999 20,416.83 20,416.83 1.000000 B -----------0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 20,416.83 DREYFUS TREASURY CASH MGMT 03-MAY-1999 -20,416.83 -20,416.83 1.000000 996085247 03-MAY-1999 -20,416.83 0.00 1.000000 FC 03-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 9,781.94 DREYFUS TREASURY CASH MGMT 04-MAY-1999 -9,781.94 -9,781.94 1.000000 996085247 04-MAY-1999 9,781.94 9,781.94 1.000000 B -----------0.00 0.00 1.000000000 0.00 Page 3 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USD 01-MAY-1999 -31-MAY-1999 TMl00 BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ -----------------------------------------------------------------------------------------------------~--- LIQUID OPER-PIMCO 9,781.94 DREYFUS TREASURY CASH MGMT 04-MAY-1999 -9,781.94 -9,781.94 1.000000 996085247 04-MAY-1999 -9,781.94 0.00 1.000000 FC 04-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 21,931.00 DREYFUS TREASURY CASH MGMT 05-MAY-1999 -21,931.00 -21,931.00 1.000000 996085247 05-MAY-1999 21,931.00 21,931.00 1.000000 B -----------0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 21,931.00 DREYFUS TREASURY CASH MGMT 05-MAY-1999 -21,931.00 -21,931.00 1.000000 996085247 05-MAY-1999 -21,931.00 0.00 1.000000 FC 05-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 2,385.11 DREYFUS TREASURY CASH MGMT 05-MAY-1999 -2,385.11 -2,385.11 1.000000 996085247 05-MAY-1999 2,385.11 2,385.11 1.000000 B -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 2,385.11 DREYFUS TREASURY CASH MGMT 05-MAY-1999 -2,385.11 -2,385.11 1.000000 996085247 05-MAY-1999 -2,385.11 0.00 1.000000 FC 05-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 25,216.67 DREYFUS TREASURY CASH MGMT ll-MAY-1999 -25,216.67 -25,216.67 1.000000 996085247 ll-MAY-1999 25,216.67 25,216.67 1.000000 B -----------0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 25,216.67 DREYFUS TREASURY CASH MGMT ll-MAY-1999 -25,216.67 -25,216.67 1.000000 996085247 ll-MAY-1999 -25,216.67 0.00 1.000000 FC ll-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 84,096.87 DREYFUS TREASURY CASH MGMT 14-MAY-1999 -84,096.87 -84,096.87 1.000000 996085247 14-MAY-1999 84,096.87 84,096.87 1.000000 B -----------0.00 0.00 l.000000000 Page 4 ATED VALUE ID/ ODE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE Ol-MAY-1999 -31-MAY-1999 DESCRIPTION/ BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LONG TERM OPER-PIMCO 84,096.87 DREYFUS TREASURY CASH MGMT 996085247 FC LIQUID OPER-PIMCO 54,388.33 DREYFUS TREASURY CASH MGMT 99608524 7 B LIQUID OPER-PIMCO 54,388.33 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 2,427,235.32 DREYFUS TREASURY CASH MGMT 99608524 7 B LONG TERM OPER-PIMCO 2,427,235.32 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 201,249.77 DREYFUS TREASURY CASH MGMT 996085247 B LONG TERM OPER-PIMCO 201,249.77 DREYFUS TREASURY CASH MGMT 99608524 7 FC LIQUID OPER-PIMCO 10,920.00 DREYFUS TREASURY CASH MGMT 996085247 LOCAL AMOUNT/ COST/ GAIN LOSS BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 14-MAY-1999 14-MAY-1999 14-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 17-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 20-MAY-1999 20-MAY-1999 20-MAY-1999 20-MAY-1999 20-MAY-1999 25-MAY-1999 25-MAY-1999 Page 5 -84,096.87 -84,096.87 0.00 -54,388.33 54,388.33 0.00 -54,388.33 -54,388.33 0.00 -2,427,235.32 2,427,235.32 0.00 -2,427,235.32 -2,427,235.32 0.00 -201,249.77 201,249.77 0. 1)0 -201,249.77 -201,249.77 0.00 -10,920.00 10,920.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 -84,096.87 0.00 0.00 0.00 -54,388.33 54,388.33 0.00 0.00 -54,388.33 0.00 0.00 0.00 -2,427,235.32 2,427,235.32 0.00 0.00 -2,427,235.32 0.00 0.00 0.00 -201,249.77 201,249.77 0.00 0.00 -201,249.77 0.00 0.00 0.00 -10,920.00 10,920.00 " 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER B LIQUID OPER-PIMCO 10,920.00 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 5,657.44 DREYFUS TREASURY CASH MGMT 996085247 B LONG TERM OPER-PIMCO 5,657.44 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 3,592.06 DREYFUS TREASURY CASH MGMT 996085247 B LONG TERM OPER-PIMCO 3,592.06 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 25,518.75 DREYFUS TREASURY CASH MGMT 996085247 B LONG TERM OPER-PIMCO 25,518.75 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 27-MAY-1999 27-MAY-1999 27-MAY-1999 27-MAY-1999 27-MAY-1999 BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 0.00 -10,920.00 -10,920.00 0.00 -5,657.44 5,657.44 0.00 -5,657.44 -5,657.44 0.00 -3,592.06 3,592.06 0.00 -3,592.06 -3,592.06 0.00 -25,518.75 25,518.75 0.00 -25,518.75 -25,518.75 0.00 2,377,420.68 BSDT-LATE MONEY DEP ACCT 17-MAY-1999 -2,377,420.68 Page 6 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 0.00 -10,920.00 0.00 0.00 0.00 -5,657.44 5,657.44 0.00 0.00 -5,657.44 0.00 0.00 0.00 -3,592.06 3,592.06 0.00 0.00 -3,592.06 0.00 0.00 0.00 -25,518.75 25,518.75 0.00 0.00 -25,518.75 0.00 0.00 0.00 -2,377,420.68 1.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ BASE: USO TMl00 LOCAL PRICE/ ID/ DESCRIPTION/ ODE BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS BASE PRICE/ BASE XRATE/ 996087094 VAR RT DD 06/26/1997 B U.S. DOLLAR FIXED INCOME SECURITIES LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA SF MTG 01N060643 6.000% 04/15/2029 FC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 FC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 BC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA SF MTG 01N060668 6.000% 06/15/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 FC LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO 10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 B LEHMAN BROS INC, NJ 17-MAY-1999 17-MAY-1999 04-MAR-1999 22-APR-1999 22-APR-1999 14-APR-1999 24-MAY-1999 24-MAY-1999 14-APR-1999 24-MAY-1999 14-APR-1999 24-MAY-1999 07-MAY-1999 23-JUN-1999 25-FEB-1999 24-MAY-1999 24-MAY-1999 25-FEB-1999 24-MAY-1999 Page 7 ------ 2, 377,420.68 0.00 -6,009,765.63 -6,009,765.63 0.00 -6, 095, 703 .13 -6,095,703.13 0.00 -6, 095, 703 .13 6,095,703 .13 0 .00 6,095,703.13 -6,095,703.13 0.00 -6,011,718.75 6,011,718.75 0.00 -10,385,156.25 -10,385,156.25 0.00 -10,385,156.25 10,385,156.25 0.00 2,377,420.68 0.00 0.00 -6,009,765.63 0.00 0.00 0.00 -6,095,703.13 0.00 0.00 0.00 -6,095,703.13 6,095,703.13 0.00 0.00 6,095,703.13 -6,095,703.13 0.00 0.00 -6,011,718.75 6,011,718.75 0.00 0.00 -10,385,156.25 0.00 0.00 0.00 -10,385,156.25 10,385,156.25 0.00 0.00 1.000000 1.000000000 96 .156250 96.156250 1.000000000 97.531250 97.531250 1.000000000 97.531250 97.531250 1.000000000 97.531250 97.531250 1.000000000 96.187500 96 .187 500 l.000000000 98.906250 98.906250 1.000000000 98.906250 98.906250 l.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ BASE: USO TMlOO LOCAL PRICE/ ID/ DESCRIPTION/ ODE BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS BASE PRICE/ BASE XRATE/ LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 BC LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO 10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062664 6.500% 06/15/2029 B LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO FUR FNMA SF MTG 11F011644 5.940% 04/25/2029 BC PRUDENTIAL SECURITIES INC LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA SF MTG 11F011644 5.940% 04/25/2029 FC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 5.812% 05/25/2029 FC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,000,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 5.812% 05/25/2029 FC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 B BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 BC BEAR STEARNS & CO INC, NY 25-FEB-1999 24-MAY-1999 14-MAY-1999 23-JUN-1999 12-MAR-1999 26-APR-1999 15-MAR-1999 26-APR-1999 26-APR-1999 14-APR-1999 25-MAY-1999 25-MAY-1999 14-APR-1999 25-MAY-1999 25-MAY-1999 14-APR-1999 25-MAY-1999 14-APR-1999 25-MAY-1999 Page 8 10,385,156.25 -10,385,156.25 0.00 -10,329,375.00 10,329,375.00 0.00 2,005,625.00 -2,005,625.00 0.00 -2,236,968.75 -2,236,968.75 0.00 -2,242,543.75 -2,242,543.75 0.00 -2,012,500.00 -2,012,500.00 0.00 -2,242,543.75 2,242,543.75 0.00 2,242,543.75 -2,242,543.75 0.00 10,385,156.25 -10,385,156.25 0.00 0.00 -10,329,375.00 10,329,375.00 0.00 0.00 2,005,625.00 -2,005,625.00 0.00 0.00 -2,236,968.75 0.00 0.00 0.00 -2,242,543.75 0.00 0.00 0.00 -2,012,500.00 0.00 0.00 0.00 -2,242,543.75 2,242,543.75 0.00 0.00 2,242,543.75 -2,242,543.75 0.00 0.00 98.906250 98.906250 1.000000000 98.375000 98.375000 1.000000000 100.281250 100.281250 l.000000000 100.312500 100.312500 l.000000000 100.562500 100.562500 1.000000000 100.625000 100.625000 l.000000000 100.562500 100.562500 1.000000000 100.562500 100.562500 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 2,000,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 BC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 2,000,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 BC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 BC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,000,000.00 COMMIT TO FUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B GOLDMAN SACHS & CO, NY 14-APR-1999 25-MAY-1999 14-APR-1999 25-MAY-1999 11-MAY-1999 24-JUN-1999 --------- 11-MAY-1999 24-JUN-1999 ----------- 11-MAY-1999 24-JUN-1999 11-MAY-1999 24-JUN-1999 11-MAY-1999 24-JUN-1999 11-MAY-1999 24-JUN-1999 Page 9 -2,012,500 .00 2,012,500.00 0.00 2,012,500.00 -2,012,500.00 0.00 -2,008,750.00 2,008,750.00 0.00 2,008,750.00 -2,008,750.00 0.00 -2,236,968.75 2,236,968.75 0.00 -2,236,968.75 2,236,968.75 0.00 2,236,968.75 -2,236,968.75 0.00 -2,008,750.00 2,008,750.00 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -2,012,500.00 2,012,500.00 0.00 0.00 2,012,500.00 -2,012,500.00 0.00 0.00 -2,008,750.00 2,008,750.00 0.00 0.00 2,008,750.00 -2,008,750.00 0.00 0.00 -2,236,968.75 2,236,968.75 0.00 0.00 -2,236,968.75 2,236,968.75 0.00 0.00 2,236,968.75 -2,236,968.75 0.00 0.00 -2,008,750.00 2,008,750.00 0.00 100.625000 100.625000 1.000000000 100.625000 100.625000 1.000000000 100.437500 100.437500 1.000000000 100.437500 100.437500 1.000000000 100.312500 100.312500 1.000000000 100.312500 100.312500 1.000000000 100.312500 100.312500 1.000000000 100.437500 100.437500 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 1,270,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 730,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 B GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 730,000.00 COMMIT TO PUR FNMA 11TH 11F011677 VAR RT 07/01/2029 B GOLDMAN SACHS & CO, NY 1,000,000.00 3134A3RT5 B -1,000,000.00 3134A3RT5 BC 1,000,000.00 3134A3RT5 B LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DEBS FLTG RT 05/18/2000 DD 05/18/99 MERRILL LYNCH PIERCE FENNER SM LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DEBS FLTG RT 05/18/2000 DD 05/18/99 MERRILL LYNCH PIERCE FENNER SM LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DEBS FLTG RT 05/18/2000 DD 05/18/99 MERRILL LYNCH PIERCE FENNER SM LIQUID OPER-PIMCO 1,000,000.00 FEDERAL HOME LN MTG CORP DEBS 3134A3RT5 FLTG RT 05/18/2000 DD 05/18/99 FC MERRILL LYNCH, FIX INCOME OPER LONG TERM OPER-PIMCO ll-MAY-1999 24-JUN-1999 ---------·-- ll-MAY-1999 24-JUN-1999 ----------- 28-MAY-1999 26-JUL-1999 12-MAY-1999 18-MAY-1999 12-MAY-1999 18-MAY-1999 12-MAY-1999 18-MAY-1999 12-MAY-1999 18-MAY-1999 18-MAY-1999 -90,846.95 FNMA POOL #0020105 12-MAR-1999 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 Page 10 -1,275,556.25 1,275,556.25 0.00 -733,193.75 733,193.75 0.00 -725,893.75 725,893.75 0.00 -999,200.00 999,200.00 0.00 999,200.00 -999,200.00 0.00 -999,200.00 999,200.00 0.00 -999,200.00 -999,200.00 0.00 91,102.46 -91,102.46 BASE: USD TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 -1,275,556.25 1,275,556.25 0.00 0.00 -733,193.75 733,193.75 0.00 0.00 -725,893.75 725,893.75 0.00 0.00 -999,200.00 999,200.00 0.00 0.00 999,200.00 -999,200.00 0.00 0.00 -999,200.00 999,200.00 0.00 0.00 -999,200.00 0.00 0.00 0.00 91,102.46 -91,102.46 100.437500 100.437500 1.000000000 100.437500 100.437500 l.000000000 99.437500 99.437500 l.000000000 99.920000 99.920000 1.000000000 99.920000 99.920000 l.000000000 99.920000 99.920000 1.000000000 99.920000 99.920000 l.000000000 100.281250 100.281250 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ --------------------------------~--------------------------------------------------------------------- BC PRUDENTIAL SECURITIES INC -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 12-MAR-1999 386 .86 386.86 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.281250 IBC -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 12-MAR-1999 91,102.46 91,102.46 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 -91,102.46 -91,102.46 100.281250 BC PRUDENTIAL SECURITIES INC --~--------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 12-MAR-1999 370.01 370.01 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.281250 IBC -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 12-MAR-1999 91,472.47 91,472.47 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 91,472.47 0.00 100.281250 FCC PRUDENTIAL SECURITIES INC 26-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 12-MAR-1999 -91,102.46 -91,102.46 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 91,102.46 91,102.46 · 100.281250 B PRUDENTIAL SECURITIES INC -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 12-MAR-1999 -370.01 -370.01 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.281250 IB -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 12-MAR-1999 -91,472.47 -91,472.47 100.281250 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 -91,472.47 0.00 100.281250 FC PRUDENTIAL SECURITIES INC 26-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -2,000,000.00 LONG ISLAND LTG CO DEB 28-APR-1999 2,151,250.00 2,151,250.00 107.562500 Page 11 ATED VALUE ID/ DESCRIPTION/ ODE BROKER MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ --------------------------------------------------------------------------------------------------------- 542671CT7 8.200% 03/15/2023 DD 03/28/93 BC BNY CAPITAL MARKETS INC, NEW Y LONG TERM OPER-PIMCO -2,000,000.00 LONG ISLAND LTG CO DEB 542671CT7 8.200% 03/i5/2023 DD 03/28/93 IBC 2,000,000.00 542671CT7 B LONG TERM OPER-PIMCO LONG ISLAND LTG CO DEB 8.200% 03/i5/2023 DD 03/28/93 BNY CAPITAL MARKETS INC, NEW Y LONG TERM OPER-PIMCO 03-MAY-1999 28-APR-1999 03-MAY-1999 28-APR-1999 03-MAY-1999 2,000,000.00 LONG ISLAND LTG CO DEB 28-APR-1999 542671CT7 8.200% 03/15/2023 DD 03/28/93 03-MAY-1999 IB ----------- 2,000,000.00 542671CT7 FC 8,500,000.00 9128274H2 B LONG TERM OPER-PIMCO LONG ISLAND LTG CO DEB 8.200% 03/15/2023 DD 03/28/93 MORGAN STANLEY & CO INC, NY LONG TERM OPER-PIMCO US TREASURY NOTES 05.500% 05/31/2003 DD 05/31/98 BARCLAYS BANK, NEW YORK LONG TERM OPER-PIMCO 28-APR-1999 03-MAY-1999 03-MAY-1999 13-MAY-1999 14-MAY-1999 8,500,000.00 US TREASURY NOTES 13-MAY-1999 9128274H2 05.500% 05/31/2003 DD 05/31/98 14-MAY-1999 IB LONG TERM OPER-PIMCO 8,500,000.00 US TREASURY NOTES 13-MAY-1999 9128274H2 05.500% 05/31/2003 DD 05/31/98 14-MAY-1999 FC BARCLAYS BANK, NEW YORK 14-MAY-1999 LONG TERM OPER-PIMCO Page 12 -2,151,250.00 0.00 21,866.67 0.00 0.00 -2,151,250.00 2,151,250.00 0.00 -21,866.67 0.00 0.00 -2,173,116.67 -2,173,116.67 0.00 -8,529,882.81 8,529,882.81 0.00 -211, 916.21 0.00 0.00 -8,741,799.02 -8,741,799.02 0.00 -2,151,250.00 0.00 0.00 21,866.67 0.00 0.00 0.00 -2,151,250.00 2,151,250.00 0.00 0.00 -21,866.67 0.00 0.00 0.00 -2,173,116.67 0.00 0.00 0.00 -8,529,882 .81 8,529,882 .81 0.00 0.00 -211, 916.21 0.00 0.00 0.00 -8,741,799.02 0.00 0.00 0.00 107.562500 1.000000000 107.562500 107.562500 1.000000000 107.562500 107.562500 1.000000000 107.562500 107.562500 1.000000000 107.562500 107.562500 1.000000000 100.351562 100.351562 1.000000000 100.351562 100.351562 1.000000000 100.351562 100.351562 1.000000000 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ -------------------------------------------------------------------------------------------------------- 6,200,000.00 US TREASURY NOTES 25-MAY-1999 -6,192,734.38 -6,192,734.38 99.882813 9128274H2 05.500% 05/31/2003 DD 05/31/98 26-MAY-1999 6,192,734.38 6,192,734.38 99.882813 B DEUTSCHE MORGAN GRENFELL, NEW -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 6,200,000.00 US TREASURY NOTES 25-MAY-1999 -165, 815. 94 -165,815.94 99.882813 9128274H2 05.500% 05/31/2003 DD 05/31/98 26-MAY-1999 0.00 0.00 99.882813 IB -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 6,200,000.00 US TREASURY NOTES 25-MAY-1999 -6,358,550.32 -6,358,550.32 99.882813 9128274H2 05.500% 05/31/2003 DD 05/31/98 26-MAY-1999 -6,358,550.32 0.00 99. 882813 FC DEUTSCHE MORGAN GRENFELL, NEW 26-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 5,000,000.00 US TREASURY NOTES 07-MAY-1999 -4,992,368.85 -4,992,368.85 99.847377 9128275F5 05.250% 05/15/2004 DD 05/15/99 17-MAY-1999 4,992,368.85 4,992,368.85 99.847377 B LEHMAN BROS INC, NJ -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 5,000,000.00 US TREASURY NOTES 07-MAY-1999 -1,426.63 -1,426.63 99.847377 9128275F5 05.250% 05/15/2004 DD 05/15/99 17-MAY-1999 0.00 0.00 99.847377 IB ------~~-0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 07-MAY-1999 4,992,368.85 4,992,368.85 99.847377 9128275F5 05.250% 05/15/2004 DD 05/15/99 17-MAY-1999 -4,992,368.85 -4,992,368.85 99.847377 BC LEHMAN BROS INC, NJ -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 07-MAY-1999 1,426.63 1,426.63 99.847377 9128275F5 05.250% 05/15/2004 DD 05/15/99 17-MAY-1999 0.00 0.00 99.847377 IBC -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 5,000,000.00 US TREASURY NOTES 07-MAY-1999 -4,992,350.00 -4,992,350.00 99.847000 9128275F5 05.250% 05/15/2004 DD 05/15/99 17-MAY-1999 4,992,350.00 4,992,350.00 99.847000 B LEHMAN BROS INC, NJ -----------0.00 0.00 1.000000000 0.00 Page 13 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE Ol-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 5,000,000.00 US TREASURY NOTES 07-MAY-1999 9128275F5 05.250% 05/15/2004 DD 05/15/99 17-MAY-1999 IB BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS -1,426.63 0.00 0.00 LONG TERM OPER-PIMCO 5,000,000.00 US TREASURY NOTES 9128275F5 05.250% 05/15/2004 DD FC LEHMAN BROS INC, NJ 07-MAY-1999 05/15/99 17-MAY-1999 17-MAY-1999 -4,993,776.63 PAY UPS U.S. DOLLAR FIXED INCOME SECURITIES LONG TERM OPER-PIMCO 12.50 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PU LONG TERM OPER-PIMCO 12.50 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 FC LONG TERM OPER-PIMCO Ol-MAY-1999 01-MAY-1999 Ol-MAY-1999 01-MAY-1999 27-MAY-1999 11,408.92 FHLMC MULTICLASS CTF SER 1620Z 01-MAY-1999 3133T17A4 6.000% 11/15/2023 DD 11/01/93 Ol-MAY-1999 PU LONG TERM OPER-PIMCO 11,408.92 FHLMC MULTICLASS CTF SER 1620Z 01-MAY-1999 3133T17A4 6.000% 11/15/2023 DD 11/01/93 Ol-MAY-1999 FC 18-MAY-1999 LONG TERM OPER-PIMCO 30,900.00 US TREASURY INFLATION INDEX NT 15-JAN-1999 9128272M3 3.375% 01/15/2007 DD 01/15/97 15-JAN-1999 PU LONG TERM OPER-PIMCO 30,900.00 US TREASURY INFLATION INDEX NT 15-JAN-1999 9128272M3 3.375% 01/15/2007 DD 01/15/97 15-JAN-1999 Page 14 -4,993,776.63 0.00 -12.50 12.50 0.00 -12.50 -12.50 0.00 -11,408.92 11,408.92 0.00 -11,408.92 -11,408.92 0.00 -30,900.00 30,900.00 0.00 -30,900.00 -30,900.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -1,426.63 0.00 0.00 0.00 -4,993,776.63 0.00 0.00 0.00 -12.50 12.50 0.00 0.00 -12.50 0.00 0.00 0.00 -11,408.92 11,408.92 0.00 0.00 -11,408.92 0.00 0.00 0.00 -30,900.00 30,900.00 0.00 0.00 -30,900.00 0.00 99.847000 99.847000 l.000000000 99.847000 99.847000 1.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER -------------------------------------- SALES U.S. FC 28-MAY-1999 LONG TERM OPER-PIMCO 21,420.00 US TREASURY INFLATION INDEX NT 15-JAN-1999 9128273A8 3.625% 07/15/2002 DD 07/15/97 15-JAN-1999 PU ----------- LONG TERM OPER-PIMCO 21,420.00 US TREASURY INFLATION INDEX NT 15-JAN-1999 9128273A8 3.625% 07/15/2002 DD 07/15/97 15-JAN-1999 FC DOLLAR CASH & CASH EQUIVALENTS -1,400,000.00 07815KTQ8 s LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/24/1999 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -1,400,000.00 BELLSOUTH TELECOM DISC 07815KTQ8 06/24/1999 IS -1,400,000.00 07815KTQ8 FC -500,000.00 313588GA7 s LONG TERM OPER-PIMCO BELLSOUTH TELECOM DISC 06/24/1999 GOLDMAN SACHS & CO, NY LIQUID OPER-PIMCO FEDERAL NATL MTG ASSN DISC MAT 05/25/1999 MORGAN STANLEY & CO INC, NY LIQUID OPER-PIMCO -500,000.00 FEDERAL NATL MTG ASSN DISC 313588GA7 MAT 05/25/1999 IS 28-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 26-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 Page 15 0.00 -21,420.00 21,420.00 0.00 -21,420.00 -21,420.00 0.00 1,393,252.00 -1,393,252.00 0.00 1,278.28 0.00 0.00 1,394,530.28 1,394,530.28 0.00 494,151.67 -494,151.67 0.00 5,386.52 0.00 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 0.00 -21,420.00 21,420.00 0.00 0.00 -21,420.00 0.00 0.00 0.00 1,393,252.00 -1,393,252.00 0.00 0.00 1,278.28 0.00 0.00 0.00 1,394,530.28 0.00 0.00 0.00 494,151.67 -494, 151. 67 0.00 0.00 5,386.52 0.00 0.00 0.00 1.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 1.000000000 99.518000 99.518000 1.000000000 99.518000 99.518000 1.000000000 99.518000 99.518000 l.000000000 98.830334 98.830334 l.000000000 98.830334 98.830334 l.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LIQUID OPER-PIMCO -500,000.00 FEDERAL NATL MTG ASSN DISC 313588GA7 MAT 05/25/1999 FC MORGAN STANLEY & CO INC, NY LONG TERM OPER-PIMCO -1,600,000.00 FORD MTR CR CO DISC 34539UUS9 07/2?/1999 S LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO -1,600,000.00 FORD MTR CR CO DISC 34539UUS9 07/26/1999 IS -1,600,000.00 34539UUS9 FC LONG TERM OPER-PIMCO FORD MTR CR CO DISC 07/26/1999 LEHMAN COML PAPER INC (LGSI), LONG TERM OPER-PIMCO 18-MAY-1999 18-MAY-1999 18-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 -4,800,000.00 FORD MTR CR CO DISC 17-MAY-1999 34539UUS9 07/26/1999 17-MAY-1999 S MERRILL LYNCH PIERCE FENNER SM----------- LONG TERM OPER-PIMCO -4,800,000.00 FORD MTR CR CO DISC 34539UUS9 07/26/1999 IS LONG TERM OPER-PIMCO -4,800,000.00 FORD MTR CR CO DISC 34539UUS9 07/26/1999 17-MAY-1999 17-MAY-1999 FC MERRILL LYNCH GOVT SECS/MONEY 17-MAY-1999 17-MAY-1999 17-MAY-1999 -400,000.00 99358V390 s LONG TERM OPER-PIMCO LEHMAN BROTHERS REPO 04.780% 05/05/1999 DD LEHMAN BROS INC, NJ 05-MAY-1999 05/04/99 05-MAY-1999 Page 16 499,538.19 499,538.19 0.00 1,580,030.22 -1,580,030.21 0.01 1,900.45 0.00 0.00 1,581,930.67 1,581,930.67 0.00 4,740,090.67 -4,740,090.62 0.05 14,549.33 0.00 0.00 4,754,640.00 4,754,640.00 0.00 400,000.00 -400,000.00 0.00 BASE: USO TMl00 LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 499,538.19 0.00 0.00 0.00 1,580,030.22 -1,580,030.21 0.01 0.00 1,900.45 0.00 0.00 0.00 1,581,930.67 0.00 0.00 0.00 4,740,090.67 -4,740,090.62 0.05 0.00 14,549.33 0.00 0.00 0.00 4,754,640.00 0.00 0.00 0.00 400,000.00 -400,000.00 0.00 0.00 98.830334 98.830334 1.000000000 98.751888 98.751888 1.000000000 98.751888 98.751888 l.000000000 98.751888 98.751888 1.000000000 98.751888 98.751888 1.000000000 98.751888 98.751888 1.000000000 98.751888 98.751888 1.000000000 100.000000 100.000000 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO -400,000.00 LEHMAN BROTHERS REPO 99358V390 04.780% 05/05/1999 DD IS 05-MAY-1999 05/04/99 05-MAY-1999 -400,000.00 99358V390 FC LONG TERM OPER-PIMCO LEHMAN BROTHERS REPO 04.780% 05/05/1999 DD LEHMAN BROS INC, NJ 05-MAY-1999 05/04/99 05-MAY-1999 05-MAY-1999 LONG TERM OPER-PIMCO -499,292.17 DREYFUS TREASURY CASH MGMT 996085247 s LONG TERM OPER-PIMCO -499,292.17 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO -387,058.56 DREYFUS TREASURY CASH MGMT 99608524 7 s • LONG TERM OPER-PIMCO -387,058.56 DREYFUS TREASURY CASH MGMT 996085247 FC LIQUID OPER-PIMCO -1.70 DREYFUS TREASURY CASH MGMT 99608524 7 s LIQUID OPER-PIMCO -1.70 DREYFUS TREASURY CASH MGMT 99608524 7 FC 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 03-MAY-1999 04-MAY-1999 04-MAY-1999 04-MAY-1999 04-MAY-1999 04-MAY-1999 07-MAY-1999 07-MAY-1999 07-MAY-1999 07-MAY-1999 07-MAY-1999 Page 17 BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 53 .11 0.00 0.00 400,053.11 400,053.11 0.00 499,292.17 -499,292.17 0.00 499,292.17 499,292.17 0.00 387,058.56 -387,058.56 0.00 387,058.56 387,058.56 0.00 1. 70 -1.70 0.00 1. 70 1. 70 0.00 BASE: USO TMl00 LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 53 .11 0.00 0.00 0.00 400,053.11 0.00 0.00 0.00 499,292.17 -499,292.17 0.00 0.00 499,292.17 0.00 0.00 0.00 387,058.56 -387,058.56 0.00 0.00 387,058.56 0.00 0.00 0.00 1. 70 -1.70 0.00 0.00 1. 70 0.00 0.00 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 1.000000000 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USD 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ---------------------------------------------------------------------------~--------------------------~- 0.00 LONG TERM OPER-PIMCO -10.20 DREYFUS TREASURY CASH MGMT 07-MAY-1999 10.20 10.20 1.000000 996085247 07-MAY-1999 -10.20 -10.20 1.000000 s -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -10.20 DREYFUS TREASURY CASH MGMT 07-MAY-1999 10.20 10.20 1.000000 99608524 7 07-MAY-1999 10.20 0.00 1.000000 FC 07-MAY-1999 0.00 0.00 1.000000000 • 0.00 LONG TERM OPER-PIMCO -284,749.31 DREYFUS TREASURY CASH MGMT 17-MAY-1999 284,749.31 284,749.31 1.000000 996085247 17-MAY-1999 -284,749.31 -284,749.31 1.000000 s -----------0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -284,749.31 DREYFUS TREASURY CASH MGMT 17-MAY-1999 284,749.31 284,749.31 1.000000 99608524 7 17-MAY-1999 284,749.31 0.00 1.000000 FC 17-MAY-1999 0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO -99,661.81 DREYFUS TREASURY CASH MGMT 18-MAY-1999 99,661 .81 99,661.81 1.000000 996085247 18-MAY-1999 -99,661.81 -99,661.81 1.000000 s -----------0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO -99,661.81 DREYFUS TREASURY CASH MGMT 18-MAY-1999 99,661.81 99,661.81 1.000000 996085247 18-MAY-1999 99,661.81 0.00 1 .000000 FC 18-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -2,175,601.13 DREYFUS TREASURY CASH MGMT 19-MAY-1999 2,175,601.13 2,175,601.13 1.000000 996085247 19-MAY-1999 -2,175,601.13 -2,175,601.13 1.000000 s -·----------0 .00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -2,175,601.13 DREYFUS TREASURY CASH MGMT 19-MAY-1999 2,175,601.13 2,175,601.13 1.000000 99608524 7 19-MAY-1999 2,175,601.13 0.00 1.000000 Page 18 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 VALUE ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE ODE BROKER FC LONG TERM OPER-PIMCO -94,026.67 DREYFUS TREASURY CASH MGMT 996085247 s LONG TERM OPER-PIMCO -94,026.67 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO -120,048.83 DREYFUS TREASURY CASH MGMT 996085247 s LONG TERM OPER-PIMCO -120,048.83 DREYFUS TREASURY CASH MGMT 996085247 FC LONG TERM OPER-PIMCO -2,377,420.68 BSDT-LATE MONEY DEP ACCT 996087094 VAR RT DD 06/26/1997 s U.S. DOLLAR FIXED -6,250,000.00 01N060643 s -6,250,000.00 01N060643 FC INCOME SECURITIES LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 04/15/2029 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 04/15/2029 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO LOCAL AMOUNT/ COST/ GAIN LOSS BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 19-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 24-MAY-1999 24-MAY-1999 24-MAY-1999 24-MAY-1999 24-MAY-1999 18-MAY-1999 18-MAY-1999 18-MAY-1999 14-APR-1999 22-APR-1999 14-APR-1999 22-APR-1999 22-APR-1999 Page 19 0.00 94,026.67 -94,026.67 0.00 94,026.67 94,026.67 0.00 120,048.83 -120,048.83 0.00 120,048.83 120,048.83 0.00 2,377,420.68 -2,377,420.68 0.00 6,102,294.93 -6,009,765.63 92,529.30 6,102,294.93 6,102,294.93 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 0.00 94,026.67 -94,026.67 0.00 0.00 94,026.67 0.00 0.00 0.00 120,048.83 -120,048.83 0.00 0.00 120,048.83 0.00 0.00 0.00 2,377,420.68 -2,377,420.68 0.00 0.00 6,102,294.93 -6,009,765.63 92,529.30 0.00 6,102,294.93 0.00 0.00 0.00 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 l.000000000 1.000000 1.000000 1.000000000 1.000000 1.000000 1.000000000 97.636700 97.636700 1.000000000 97.636700 97.636700 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ BASE: USO TMlOO LOCAL PRICE/ ID/ DESCRIPTION/ ODE BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS BASE PRICE/ BASE XRATE/ -6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 S GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 SC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 S GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -6,250,000.00 COMMIT TO PUR GNMA I SF 01N060650 6.000% 05/15/2029 FC GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 S LEHMAN BROS INC, NJ 10,500,000.00 01N062656 SC LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 05/15/2029 LEHMAN BROS INC, NJ LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 s SALOMON BROS INC, NEW YORK LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 01N062656 6.500% 05/15/2029 FC SALOMON BROS INC, NEW YORK 07-MAY-1999 24-MAY-1999 07-MAY-1999 24-MAY-1999 07-MAY-1999 24-MAY-1999 07-MAY-1999 24-MAY-1999 24-MAY-1999 14-MAY-1999 24-MAY-1999 14-MAY-1999 24-MAY-1999 14-MAY-1999 24-MAY-1999 14-MAY-1999 24-MAY-1999 24-MAY-1999 6,018,310.55 -6,095,703.13 -77,392.58 -6,018,310.55 6,095,703.13 77,392.58 6,018,310.55 -6,095,703.13 -77,392.58 6,018,310.55 6,018,310.55 0.00 10,342,500.00 -10,385,156.25 -42,656.25 -10,342,500.00 10,385,156.25 42,656.25 10,342,500.00 -10,385,156.25 Page 20 -42,656.25 10,342,500.00 10,342,500.00 0 .00 6,018,310.55 -6, 095, 703 .13 -77,392.58 0.00 -6,018,310.55 6,095,703.13 77,392.58 0.00 6,018,310.55 -6,095,703.13 -77,392.58 0.00 6,018,310.55 0.00 0.00 0.00 10,342,500.00 -10,385,156.25 -42,656.25 0.00 -10,342,500.00 10,385,156.25 42,656.25 0.00 10,342,500.00 -10,385,156.25 -42,656.25 0.00 10,342,500.00 0.00 0.00 0.00 96.292968 96.292968 1.000000000 96.292968 96.292968 1.000000000 96.292968 96.292968 1.000000000 96.292968 96.292968 1.000000000 98.500000 98.500000 1.000000000 98.500000 98.500000 1.000000000 98.500000 98.500000 1.000000000 98.500000 98.500000 1.000000000 ATED VALUE ID/ DESCRIPTION/ ODE BROKER 2,230,000.00 11F011644 SC 2,000,000.00 11F011644 SC -2,230,000.00 11F011644 s -2,230,000.00 11F011644 FC -2,230,000.00 11F011651 s 2,230,000.00 11F011651 SC -2,000,000.00 11F011651 s 2,000,000.00 11F011651 SC MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS ---------- LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 04/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO FUR FNMA SF MTG VAR RT 04/25/2029 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 04/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 04/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 05/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 05/25/2029 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG VAR RT 05/25/2029 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO COMMIT TO FUR FNMA SF MTG VAR RT 05/25/2029 GOLDMAN SACHS & CO, NY 14-APR-1999 26-APR-1999 14-APR-1999 26-APR-1999 14-APR-1999 26-APR-1999 14-APR-1999 26-APR-1999 26-APR-1999 11-MAY-1999 25-MAY-1999 11-MAY-1999 25-MAY-1999 11-MAY-1999 25-MAY-1999 11-MAY-1999 25-MAY-1999 Page 21 -2,243,676.17 2,236,639.26 -7,036.91 -2,013,515.63 2,005,954.49 -7, 561.14 2,243,676.17 -2,236,968.75 6,707.42 2,243,676.17 2,243,676.17 0.00 2,237,752.73 -2,243,202.73 -5,450.00 -2,237,752.73 2,243,202.73 5,450.00 2,009,453.13 -2,011,841.02 -2,387.89 -2,009,453.13 2,011,841.02 2,387.89 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -2,243,676.17 2,236,639.26 -7,036.91 0.00 -2,013,515.63 2,005,954.49 -7,561.14 0.00 2,243,676.17 -2,236,968.75 6,707.42 0.00 2,243,676.17 0.00 0.00 0.00 2,237,752.73 -2,243,202.73 -5,450.00 0.00 -2,237,752.73 2,243,202.73 5,450.00 0.00 2,009,453.13 -2,011,841.02 -2,387.89 0.00 -2,009,453.13 2,011,841.02 2,387.89 0.00 100.613281 100.613281 1.000000000 100.675782 100.675782 1.000000000 100.613281 100.613281 1.000000000 100.613281 100.613281 1.000000000 100.347656 100.347656 l.000000000 100.347656 100.347656 1.000000000 100.472656 100.472656 l.000000000 100.472656 100.472656 1.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ COST/ ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS INV GAIN LOSS/ CURR GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 s BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO FUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 FC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO PUR FNMA SF MTG 11F011651 VAR RT 05/25/2029 s BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO PUR FNMA SF MTG llF011651 VAR RT 05/25/2029 FC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -1,270,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 S BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 S BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO 2,230,000.00 COMMIT TO PUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 SC BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO -2,230,000.00 COMMIT TO FUR FNMA 11TH COFI 11F011669 VAR RT 06/25/2029 S BEAR STEARNS & CO INC, NY ll-MAY-1999 25-MAY-1999 ll-MAY-1999 25-MAY-1999 25-MAY-1999 ll-MAY-1999 25-MAY-1999 ll-MAY-1999 25-MAY-1999 25-MAY-1999 14-MAY-1999 24-JUN-1999 14-MAY-1999 24-JUN-1999 14-MAY-1999 24-JUN-1999 14-MAY-1999 24-JUN-1999 Page 22 2,237,752.73 -2,243,202.73 -5,450.00 2,237,752.73 2,237,752.73 0.00 2,009,453.13 -2,011,841.02 -2,387.89 2,009,453.13 2,009,453.13 0.00 1,273,968.75 -1,274,323.64 -354.89 2,236,968.75 -2,237,890.44 -921.69 -2,236,968.75 2,237,890.44 921. 69 2,236,968.75 -2,238,584.83 -1,616.08 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 2,237,752.73 -2,243,202.73 -5,450.00 0.00 2,237,752.73 0.00 0.00 0.00 2,009,453.13 -2,011,841.02 -2,387.89 0.00 2,009,453.13 0.00 0.00 0.00 1,273,968.75 -1,274,323.64 -354.89 0.00 2,236,968.75 -2,237,890.44 -921.69 0.00 -2, 236,968.75 2,237,890.44 921. 69 0.00 2,236,968.75 -2,238,584.83 -1,616.08 100.347656 100.347656 1.000000000 100.347656 100.347656 l.000000000 100.472656 100.472656 l.000000000 100. 4 72656 100.472656 1.000000000 100.312500 100.312500 1.000000000 100.312500 100.312500 1.000000000 100.312500 100.312500 1.000000000 100.312500 100 .312500 l.000000000 MELLON TRUST . ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMl00 BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ---------------------------------------------------------------------------------------------------------- 0.00 LONG TERM OPER-PIMCO -730,000.00 COMMIT TO PUR FNMA 11TH COFI 28-MAY-1999 726,378.52 726,378.52 99.503906 11F011669 VAR RT 06/25/2029 24-JUN-1999 -733,091.21 -733, 091. 21 99.503906 s GOLDMAN SACHS & CO, NY ------------6,712.69 -6,712.69 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 14-APR-1999 -91,460.88 -91,460.88 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 91,102.46 91,102.46 100.675781 SC GOLDMAN SACHS & CO, NY ------~~--358.42 -358.42 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 14-APR-1999 -370.01 -370.01 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.675781 ISC -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 90,846.95 FNMA POOL #0020105 14-APR-1999 -91,830.89 -91,830.89 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 -91,830.89 0.00 100.675781 FCC GOLDMAN SACHS & CO, NY 26-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 14-APR-1999 91,460.88 91,460.88 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 -91,102.46 -91,102.46 100.675781 s GOLDMAN SACHS & CO, NY -----------358.42 358.42 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 14-APR-1999 370.01 370.01 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 0.00 0.00 100.675781 IS -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -90,846.95 FNMA POOL #0020105 14-APR-1999 91,830.89 91,830.89 100.675781 31360YKS2 6.072% 11/01/2024 DD 02/01/85 26-APR-1999 91,830.89 0.00 100.675781 FC GOLDMAN SACHS & CO, NY 26-APR-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -809,188.55 FNMA POOL #0047935 14-APR-1999 814,656.89 814,656.89 100.675781 313612HL0 5.839% 05/01/2027 DD 05/01/87 26-APR-1999 -811, 464. 39 -811,464.39 100.675781 Page 23 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER ------- s GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO -809,188.55 FNMA POOL #0047935 14-APR-1999 313612HLO 5.839% 05/01/2027 DD 05/01/87 26-APR-1999 IS ----------- LONG TERM OPER-PIMCO -809,188.55 FNMA POOL #0047935 14-APR-1999 313612HLO 5.839% 05/01/2027 DD 05/01/87 26-APR-1999 FC GOLDMAN SACHS & CO, NY 26-APR-1999 LONG TERM OPER-PIMCO -366,757.31 FNMA POOL #0062938 14-APR-1999 31362J4XO 5.839% 03/01/2027 DD 06/01/88 26-APR-1999 s GOLDMAN SACHS & CO, NY ----------- LONG TERM OPER-PIMCO -366,757.31 FNMA POOL #0062938 14-APR-1999 31362J4XO 5.839% 03/01/2027 DD 06/01/88 26-APR-1999 IS ----------- LONG TERM OPER-PIMCO -366,757.31 FNMA POOL #0062938 14-APR-1999 31362J4XO 5.839% 03/01/2027 DD 06/01/88 26-APR-1999 FC GOLDMAN SACHS & CO, NY 26-APR-1999 LONG TERM OPER-PIMCO -514,435.31 FNMA POOL #0190012 14-APR-1999 31368HAM5 VAR RT 11/01/2027 DD 09/01/93 26-APR-1999 FC GOLDMAN SACHS & CO, NY 26-APR-1999 LONG TERM OPER-PIMCO BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS ------ 3, 192. 50 3,291.82 0.00 0.00 817,948.71 817,948.71 0.00 369,235.79 -367,788.81 1,446.98 1,491.99 0.00 0.00 370,727.78 370,727.78 0.00 520,004.52 520,004.52 0.00 -8,500,000.00 9128272SO s US TREASURY NOTES 13-MAY-1999 06.625% 04/30/2002 DD 04/30/97 14-MAY-1999 BARCLAYS BANK, NEW YORK 8,804,472.66 -8,865,156.26 LONG TERM OPER-PIMCO -8,500,000.00 US TREASURY NOTES 13-MAY-1999 -60,683.60 21,423.23 Page 24 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 3,192.50 0.00 3,291.82 0.00 0.00 0.00 817,948.71 0.00 0.00 0.00 369,235.79 -367,788.81 1,446.98 0.00 1,491.99 0.00 0.00 0.00 370,727.78 0.00 0.00 0.00 520,004.52 0.00 0.00 0.00 8,804,472.66 -8,865,156.26 -60,683.60 0.00 21,423.23 1.000000000 100. 675781 100.675781 1.000000000 100.675781 100.675781 1.000000000 100.675781 100.675781 1.000000000 100.675781 100.675781 1.000000000 100.675781 100.675781 1.000000000 100.675781 100.675781 1.000000000 103.582031 103.582031 1.000000000 103.582031 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO Ol-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ----------------------------------~--------~------------------------------------------------------~---- 9128272SO 06.625% 04/30/2002 DD 04/30/97 14-MAY-1999 0.00 0.00 103.582031 IS -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -8,500,000.00 US TREASURY NOTES 13-MAY-1999 8,825,895.89 8,825,895.89 103.582031 9128272SO 06.625% 04/30/2002 DD 04/30/97 14-MAY-1999 8,825,895.89 0.00 103.582031 FC BARCLAYS BANK, NEW YORK 14-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 25-MAY-1999 4,959,765.63 4,959,765.63 99.195313 9128275F5 05.250% 05/15/2004 DD 05/15/99 26-MAY-1999 -4,992,350.00 -4,992,350.00 99.195313 s DEUTSCHE MORGAN GRENFELL, NEW ---~~--~ -32,584.37 -32,584.37 l.000000000 0.00 LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 25-MAY-1999 7,846.47 7,846.47 99 .195313 9128275F5 05.250% 05/15/2004 DD 05/15/99 26-MAY-1999 0.00 0.00 99.195313 IS -----------0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -5,000,000.00 US TREASURY NOTES 25-MAY-1999 4,967,612.10 4,967,612.10 99.195313 9128275F5 05.250% 05/15/2004 DD 05/15/99 26-MAY-1999 4,967,612.10 0.00 99.195313 FC DEUTSCHE MORGAN GRENFELL, NEW 26-MAY-1999 0.00 0.00 l.000000000 0.00 PRINCIPAL PAYMENTS U.S. DOLLAR FIXED INCOME SECURITIES LONG TERM OPER-PIMCO -125,510.67 CHASE MANHATTAN GRAN 95-B CL A 15-MAY-1999 125,510.67 125,510.67 100.000000 161614AE2 5.900% 11/15/2001 DD 11/15/95 15-MAY-1999 -125,250.83 -125,250.83 100.000000 PD --------·---259.84 259.84 l.000000000 0.00 LONG TERM OPER-PIMCO -125,510.67 CHASE MANHATTAN GRAN 95-B CL A 15-MAY-1999 125,510.67 125,510.67 100.000000 161614AE2 5.900% 11/15/2001 DD 11/15/95 15-MAY-1999 125,510.67 0.00 100.000000 FC 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO -781,146.66 FHLMC GROUP #G5-0476 01-MAY-1999 781,146.66 781,146.66 100.000000 3128DDQ55 7.000% 02/01/2003 DD 02/01/98 01-MAY-1999 -793,352.08 -793,352.08 100.000000 PD ------------12,205.42 -12,205.42 l.000000000 0.00 Page 25 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE Ol-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO -781,146.66 FHLMC GROUP #G5-0476 3128DDQ55 7.000% 02/01/2003 DD FC Ol-MAY-1999 02/01/98 Ol-MAY-1999 17-MAY-1999 LONG TERM OPER-PIMCO 83,351.50 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PDC LONG TERM OPER-PIMCO -24.00 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PD LONG TERM OPER-PIMCO 24.00 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PDC LONG TERM OPER-PIMCO -83,364.00 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PD LONG TERM OPER-PIMCO -83,364.00 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 FC LONG TERM OPER-PIMCO -80,370.50 FHLMC MULTICLASS CTF E3 A 3133TCE95 6.324% 08/15/2032 PD LONG TERM OPER-PIMCO -45,668.70 FHLMC MULTICL MTG P/C 1574 E 3133T02D5 5.900% 06/15/2017 PD 01-APR-1999 Ol-APR-1999 Ol-APR-1999 Ol-APR-1999 Ol-APR-1999 01-APR-1999 Ol-APR-1999 Ol-APR-1999 Ol-APR-1999 Ol-APR-1999 17-MAY-1999 01-MAY-1999 01-MAY-1999 Ol-MAY-1999 Ol-MAY-1999 Page 26 BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS 781,146.66 781,146.66 0.00 -83,351.50 83,442.67 91.17 24.00 -24.03 -0.03 -24.00 24.03 0.03 83,364.00 -83,455.18 -91.18 83,364.00 83,364.00 0.00 80,370.50 -80,458.40 -87.90 45,668.70 -45,604.48 64.22 BASE: USD TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 781,146.66 0.00 0.00 0.00 -83, 351. 50 83,442.67 91.17 0.00 24.00 -24.03 -0.03 0.00 -24.00 24.03 0.03 0.00 83,364.00 -83,455.18 -91.18 0.00 83,364.00 0.00 0.00 0.00 80,370.50 -80,458.40 -87.90 0.00 45,668.70 -45,604.48 64.22 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 l.000000000 ATED VALUE MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 ID/ DESCRIPTION/ EFFECTIVE DATE / SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS ODE BROKER LONG TERM OPER-PIMCO 45,668.70 FHLMC MULTICL MTG P/C 1574 E 3133T02D5 5.900% 06/15/2017 PDC LONG TERM OPER-PIMCO -45,668.70 FHLMC MULTICL MTG P/C 1574 E 3133T02D5 5.900% 06/15/2017 PD LONG TERM OPER-PIMCO -45,668.70 FHLMC MULTICL MTG P/C 1574 E 3133T02D5 5.900% 06/15/2017 F~ LONG TERM OPER-PIMCO 01-MAY-1999 01-MAY-1999 01-MAY-1999 01-MAY-1999 01-MAY-1999 01-MAY-1999 17-MAY-1999 -16,584.26 FIFTH THIRD BK AUTO TR 96A CLA 15-MAY-1999 31677EAA4 6.200% 09/01/2001 DD 03/15/96 15-MAY-1999 PD ----------- LONG TERM OPER-PIMCO -16,584.26 31677EAA4 FC FIFTH THIRD BK AUTO TR 96A CLA 15-MAY-1999 6.200% 09/01/2001 DD 03/15/96 15-MAY-1999 LONG TERM OPER-PIMCO -61,476.40 GNMA II POOL #0080023 36225CAZ9 7.000% 12/20/2026 DD PD LONG TERM OPER-PIMCO 61,476.40 GNMA II POOL #0080023 36225CAZ9 7.000% 12/20/2026 DD PDC LONG TERM OPER-PIMCO 17-MAY-1999 01-MAY-1999 12/01/96 01-MAY-1999 01-MAY-1999 12/01/96 01-MAY-1999 -61,478.65 GNMA II POOL #0080023 01-MAY-1999 36225CAZ9 7.000% 12/20/2026 DD 12/01/96 01-MAY-1999 Page 27 BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS -45,668.70 45,604.48 -64.22 45,668.70 -45,604.48 64.22 45,668.70 45,668.70 0.00 16,584.26 -16,584.26 0.00 16,584.26 16,584.26 0.00 61,476.40 -62,494.60 -1,018.20 -61,476.40 62,494.60 1,018.20 61,478.65 -62,496.89 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 0.00 -45,668.70 45,604.48 -64.22 0.00 45,668.70 -45,604.48 64.22 0.00 45,668.70 0.00 0.00 0.00 16,584.26 -16,584.26 0.00 0.00 16,584.26 0.00 0.00 0.00 61,476.40 -62,494.60 -1,018.20 0.00 -61,476.40 62,494.60 1,018.20 0.00 61,478.65 -62,496 .89 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 ATED MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 BASE AMOUNT/ VALUE ID/ DESCRIPTION/ ODE BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS COST/ INV GAIN LOSS/ CURR GAIN LOSS PD LONG TERM OPER-PIMCO -61,478.65 GNMA II POOL #0080023 01-MAY-1999 36225CAZ9 7.000% 12/20/2026 DD 12/01/96 01-MAY-1999 FC 20-MAY-1999 LONG TERM OPER-PIMCO -111,643.57 GNMA II POOL #080088M 01-MAY-1999 36225CC20 6.875% 06/20/2027 DD 06/01/97 01-MAY-1999 PD LONG TERM OPER-PIMCO 111,643.57 GNMA II POOL #080088M 36225CC20 6.875% 06/20/2027 DD PDC LONG TERM OPER-PIMCO -114,408.04 GNMA II POOL #080088M 36225CC20 6.875% 06/20/2027 DD PQ LONG TERM OPER-PIMCO -114,408.04 GNMA II POOL #080088M 36225CC20 6.875% 06/20/2027 DD FC MATURITIES U.S. DOLLAR CASH & CASH EQUIVALENTS LONG TERM OPER-PIMCO -900,000.00 DU PONT DE NEMOUR DISC 26354BSR4 05/25/1999 MT BOND MATURITY Ol-MAY-1999 06/01/97 01-MAY-1999 01-MAY-1999 06/01/97 01-MAY-1999 01-MAY-1999 06/01/97 Ol-MAY-1999 20-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 LIQUID OPER-PIMCO -2,450,000.00 FEDERAL HOME LN MTG CORP DISC 313396FD0 MAT 05/04/1999 04-MAY-1999 04-MAY-1999 04-MAY-1999 MT BOND MATURITY Page 28 ------ -1, 018. 24 61,478.65 61,478.65 0.00 111,643.57 -114, 085. 77 -2,442.20 -111,643.57 114,085.77 2,442.20 114,408.04 -116,910.72 -2,502.68 114,408.04 114,408.04 0.00 891,702.75 -891,702.75 0.00 2,421,732.45 -2,421,732.45 0.00 BASE: USO TMlOO LOCAL PRICE/ BASE PRICE/ BASE XRATE/ -1,018.24 0.00 61,478.65 0.00 0.00 0.00 111,643.57 -114, 085. 77 -2,442.20 0.00 -111, 643.57 114,085.77 2,442.20 0.00 114,408.04 -116, 910. 72 -2,502.68 0.00 114,408.04 0.00 0.00 0.00 891,702.75 -891,702.75 0.00 0.00 2,421,732.45 -2,421,732.45 0.00 0.00 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 ATED MELLON TRUST POSTED TRANSACTIONS -LOCAL/BASE 01-MAY-1999 -31-MAY-1999 VALUE ID/ DESCRIPTION/ ODE BROKER EFFECTIVE DATE/ SETTLE DATE/ COMPL DATE LOCAL AMOUNT/ COST/ GAIN LOSS BASE AMOUNT/ COST/ INV GAIN LOSS/ CURR GAIN LOSS ------------- LIQUID OPER-PIMCO -400,000.00 313396FT5 MT FEDERAL HOME LN MTG CORP DISC MAT 05/18/1999 -900,000.00 313588GA7 MT BOND MATURITY LIQUID OPER-PIMCO FEDERAL NATL MTG ASSN MAT 05/25/1999 BOND MATURITY LONG TERM OPER-PIMCO -1,300,000.00 FORD MTR CR CO DISC 34539USM5 05/21/1999 MT BOND MATURITY LIQUID OPER-PIMCO -900,000.00 GENERAL ELEC CAP DISC 36959JS53 05/05/1999 MT BOND MATURITY DISC 18-MAY-1999 18-MAY-1999 18-MAY-1999 25-MAY-1999 25-MAY-1999 25-MAY-1999 21-MAY-1999 21-MAY-1999 21-MAY-1999 05-MAY-1999 05-MAY-1999 05-MAY-1999 U.S. DOLLAR FIXED INCOME SECURITIES LIQUID OPER-PIMCO -3,300,000.00 US TREASURY NOTES 912827X72 06.375% 05/15/1999 MT BOND MATURITY 15-MAY-1999 DD 05/15/96 15-MAY-1999 15-MAY-1999 INTEREST U.S. DOLLAR LONG TERM OPER-PIMCO 2,000,000.00 066365DW4 IT BANKERS TR NY CORP GLOBAL NT ll-MAY-1999 FLTG RT 05/11/2003 DD 05/11/98 ll-MAY-1999 LONG TERM OPER-PIMCO 1,305,000.00 BEAR STEARNS COS INC SR NTS 073902AW8 6.750% 05/01/2001 DD 04/26/96 IT LONG TERM OPER-PIMCO ll-MAY-1999 03-MAY-1999 01-MAY-1999 03-MAY-1999 125,510.67 CHASE MANHATTAN GRAN 95-B CL A 17-MAY-1999 Page 29 394,464.44 -394,464.44 0.00 889,473.00 -889,473.00 0.00 1,291,976.83 -1,291,976.83 0.00 888,840.00 -888,840.00 0.00 3,300,000.00 -3,325,265.63 -25,265.63 25,216.67 25,216.67 0.00 44,043.75 44,043.75 0.00 5,625.09 BASE: USO TMl00 LOCAL PRICE/ BASE PRICE/ BASE XRATE/ 394,464.44 -394,464.44 0.00 0.00 889,473.00 -889,473.00 0.00 0.00 1,291,976.83 -1,291,976.83 0.00 0.00 888,840.00 -888,840.00 0.00 0.00 3,300,000.00 -3,325,265.63 -25,265.63 0.00 25,216.67 0.00 0.00 0.00 44,043.75 0.00 0.00 0.00 5,625.09 100.000000 100.000000 1.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 l.000000000 100.000000 100.000000 1.000000000 100.000000 100.000000 l.000000000 0.000000 0.000000 1.000000000 0.000000 0.000000 1.000000000 0.000000 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMl00 BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DES CR I PT ION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ --------------------------~-----------------------------------------------------------------~---------- 161614AE2 5.900% 11/15/2001 DD 11/15/95 15-MAY-1999 5,625.09 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 3,500,000.00 CHRYSLER FIN MTN 19-MAY-1999 13,794.87 13,794.87 0.000000 17120QE80 FLTG RT 08/08/2002 DD 04/08/98 15-MAY-1999 13,794.87 0.00 0.000000 IT 19-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 900,000.00 DU PONT DE NEMOUR DISC 25-MAY-1999 8,297.25 8,297.25 0.000000 26354BSR4 05/25/1999 25-MAY-1999 8,297.25 0.00 0.000000 IT 25-MAY-1999 0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO 500,000.00 DUKE ENERGY CORP 1ST & REF MTG 03-MAY-1999 20,000.00 20,000.00 0.000000 264399DB9 8.000% 11/01/1999 DD 11/01/94 0l-MAY-1999 20,000.00 0.00 0.000000 IT 03-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 781,146.66 FHLMC GROUP #G5-0476 17-MAY-1999 67,641.34 67,641.34 0.000000 3128DDQ55 7.000% 02/01/2003 DD 02/01/98 0l-MAY-1999 67,641.34 0.00 0.000000 IT 17-MAY-1999 0 .00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 83,364.00 FHLMC MULTICLASS CTF E3 A 17-MAY-1999 19,577.20 19,577.20 0.000000 3133TCE95 6.324% 08/15/2032 0l-APR-1999 19,577.20 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 12.50 FHLMC MULTICLASS CTF E3 A 27-MAY-1999 12 .50 12.50 0.000000 3133TCE95 6.324% 08/15/2032 0l-APR-1999 12 .50 0.00 0.000000 IT 27-MAY-1999 0 .00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 2,000,000.00 FHLMC MULTICLASS CTF Tll A6 25-MAY-1999 10,833.33 10,833.33 0.000000 3133TDPV2 6.500% 09/25/2018 25-APR-1999 10,833.33 0.00 0.000000 IT 25-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO Page 30 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ --------------------------------------------------------------------------------------------------------- 45,668.70 FHLMC MULTICL MTG P/C 1574 E 17-MAY-1999 4,603.20 4,603.20 0.000000 3133T02D5 5.900% 06/15/2017 01-MAY-1999 4,603.20 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 11,408.92 FHLMC MULTICLASS CTF SER 1620Z 18-MAY-1999 11,408.92 11,408.92 0.000000 3133Tl7A4 6.000% 11/15/2023 DD 11/01/93 01-MAY-1999 11,408.92 0.00 0.000000 IT 18-MAY-1999 0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO 2,450,000.00 FEDERAL HOME LN MTG CORP DISC 04-MAY-1999 28,267.55 28,267.55 0.000000 313396FDO MAT 05/04/1999 04-MAY-1999 28,267.55 0.00 0.000000 IT 04-MAY-1999 0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO 400,000.00 FEDERAL HOME LN MTG CORP DISC 18-MAY-1999 5,535.56 5,535.56 0.000000 313396FT5 MAT 05/18/1999 18-MAY-1999 5,535.56 0.00 0.000000 IT 18-MAY-1999 0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO 900,000.00 FEDERAL NATL MTG ASSN DISC 25-MAY-1999 10,527.00 10,527.00 0.000000 313588GA7 MAT 05/25/1999 25-MAY-1999 10,527.00 0.00 0.000000 IT 25-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 16,584.26 FIFTH THIRD BK AUTO TR 96A CLA 17-MAY-1999 898.38 898.38 0.000000 31677EAA4 6.200% 09/01/2001 DD 03/15/96 15-MAY-1999 898.38 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 1,300,000.00 FORD MTR CR CO DISC 21-MAY-1999 8,023.17 8,023 .17 0.000000 34539USM5 05/21/1999 21-MAY-1999 8,023.17 0 .00 0.000000 IT 21-MAY-1999 0.00 0 .00 l.000000000 0 .00 LONG TERM OPER-PIMCO 2,000,000.00 FORD 0 MTR CR CO TERM ENHANCED 27-MAY-1999 25,518.75 25,518.75 0.000000 345397SC8 FLTG RT 08/27/2006 DD 08/27/98 27-MAY-1999 25,518.75 0.00 0.000000 IT 27-MAY-1999 0.00 0.00 l.000000000 0.00 Page 31 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO Ol-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ --------------------~--------------------------------------------~ ------------------------------------- LONG-TERM OPER-PIMCO 61,478.65 GNMA II POOL #0080023 20-MAY-1999 9,721.05 9,721.05 0.000000 36225CAZ9 7.000% 12/20/2026 DD 12/01/96 Ol-MAY-1999 9,721.05 0.00 0.000000 IT 20-MAY-1999 0.00 0.00 1.000000000 0 .00 LONG TERM OPER-PIMCO 114,408.04 GNMA II POOL #080088M 20-MAY-1999 15,642.03 15,642.03 0.000000 36225CC20 6.875% 06/20/2027 DD 06/01/97 Ol-MAY-1999 15,642.03 0.00 0.000000 IT 20-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 900,000.00 GENERAL ELEC CAP DISC 05-MAY-1999 11,160.00 11,160.00 0.000000 36959JS53 05/05/1999 05-MAY-1999 11,160.00 0.00 0.000000 IT 05-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 1,250,000.00 GENERAL MTRS ACCEP CORP NTS 03-MAY-1999 44,531.25 44,531.25 0.000000 370425QFO 7.125% 05/01/2001 DD 05/01/97 Ol-MAY-1999 44,531.25 0.00 0.000000 IT 03-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 3,950,000.00 GENERAL MTRS ACCEP CORP NTS 18-MAY-1999 49,814.64 49,814.64 0.000000 370425QV5 FLTG RT 08/18/2003 DD 08/17/98 18-MAY-1999 49,814.64 0.00 0.000000 IT 18-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 1,000,000.00 HOUSEHOLD FIN MTN SR #00570 04-MAY-1999 12,941.44 12,941.44 0.000000 44181KZT4 FLTG RT 08/01/2001 DD 09/04/98 02-MAY-1999 12,941.44 0.00 0.000000 IT 04-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 2,005,000.00 SEARS ROEBUCK ACCEP CORP MTN 17-MAY-1999 65,563.50 65,563.50 0.000000 81240QGW6 6.540% 02/20/2003 DD 02/20/97 15-MAY-1999 65,563.50 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 5,200,000.00 US TREASURY BONDS 17-MAY-1999 308,750.00 308,750.00 0.000000 912810DGO 11.875% 11/15/2003 DD 10/05/83 15-MAY-1999 308,750.00 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 l.000000000 0.00 Page 32 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO 01-MAY-1999 -31-MAY-1999 TMl00 BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ ------------------------------------------------------------------------------------------------------- LONG TERM OPER-PIMCO 2,500,000.00 US TREASURY BONDS 17-MAY-1999 165,625.00 165,625.00 0.000000 912810DJ4 13.250% 05/15/2014 DD 05/15/84 15-MAY-1999 165,625.00 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 17,100,000.00 US TREASURY NOTES 17-MAY-1999 641,250.00 641,250.00 0.000000 912827D25 07.500% 11/15/2001 DD 11/15/91 15-MAY-1999 641,250.00 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 l.000000000 0.00 LIQUID OPER-PIMCO 3,300,000.00 US TREASURY NOTES 17-MAY-1999 105,187.50 105,187.50 0.000000 912827X72 06.375% 05/15/1999 DD 05/15/96 15-MAY-1999 105,187.50 0.00 0.000000 IT 17-MAY-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO -13,100.00 US TREASURY INFLATION INDEX NT 30-APR-1999 -13,100.00 -13,100.00 0.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 15-JAN-1999 -13,100.00 0.00 0.000000 ITC 30-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX NT 30-APR-1999 13,500.00 13,500.00 0.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 30-APR-1999 13,500.00 0.00 0.000000 CD RECD INTEREST FOR APRIL 30-APR-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX NT 30-APR-1999 -13,500.00 -13,500.00 0.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 30-APR-1999 -13,500.00 0.00 0.000000 CDC TO REVERSE 30-APR-1999 0.00 0.00 l.000000000 0.00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX NT 30-APR-1999 13,100.00 13,100.00 0.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 30-APR-1999 13,100.00 0.00 0.000000 CD RECEIVED INTEREST 30-APR-1999 0.00 0.00 l.000000000 PAYABLE 04/30/99 0.00 LONG TERM OPER-PIMCO 30,900.00 US TREASURY INFLATION INDEX NT 28-MAY-1999 30,900.00 30,900.00 0.000000 9128272M3 3.375% 01/15/2007 DD 01/15/97 15-JAN-1999 30,900.00 0.00 0.000000 IT 28-MAY-1999 0.00 0.00 1.000000000 Page 33 MELLON TRUST ATED POSTED TRANSACTIONS -LOCAL/BASE BASE: USO Ol-MAY-1999 -31-MAY-1999 TMlOO BASE AMOUNT/ VALUE EFFECTIVE DATE/ LOCAL AMOUNT/ COST/ LOCAL PRICE/ ID/ DESCRIPTION/ SETTLE DATE/ COST/ INV GAIN LOSS/ BASE PRICE/ ODE BROKER COMPL DATE GAIN LOSS CURR GAIN LOSS BASE XRATE/ -----~---------------------------------------------------------------------------------------------------- 0.00 LONG TERM OPER-PIMCO -9,030.00 US TREASURY INFLATION INDEX NT 30-APR-1999 -9,030.00 -9,030.00 0.000000 9128273A8 3.625% 07/15/2002 DD 07/15/97 15-JAN-1999 -9,030.00 0.00 0.000000 ITC 30-APR-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX NT 30-APR-1999 9,030.00 9,030.00 0.000000 9128273A8 3.625% 07/15/2002 DD 07/15/97 30-APR-1999 9,030.00 0.00 0.000000 CD RECEIVED INTEREST 30-APR-1999 0.00 0.00 1.000000000 PAYABLE 04/30/99 0.00 LONG TERM OPER-PIMCO 21,420.00 US TREASURY INFLATION INDEX NT 28-MAY-1999 21,420.00 21,420.00 0.000000 9128273A8 3.625% 07/15/2002 DD 07/15/97 15-JAN-1999 21,420.00 0.00 0.000000 IT 28-MAY-1999 0.00 0.00 1.000000000 0.00 LIQUID OPER-PIMCO 0.00 DREYFUS TREASURY CASH MGMT 03-MAY-1999 416.83 416.83 0.000000 996085247 01-MAY-1999 416.83 0.00 0.000000 IT 03-MAY-1999 0.00 0.00 1.000000000 0.00 LONG TERM OPER-PIMCO 0.00 DREYFUS TREASURY CASH MGMT 03-MAY-1999 3,318.83 3,318.83 0.000000 99608524 7 Ol-MAY-1999 3,318.83 0.00 0.000000 IT 03-MAY-1999 0.00 0.00 1.000000000 0.00 Page 34 STATE OF CALIFORNIA) ) SS. COUNTY OF ORANGE ) Pursuant to California Government Code Section 54954.2, I hereby certify that the Notice and the Agenda for the Finance, Administration, and Human Resources Committee meeting to be held on ~ ?, If f? , 199_, was duly posted for public inspection in the main lobby of the District's offices on ~~ /'1 C/7 , 199_. -z1-~~---· 199_i'. H:\WP .DT A \ADMIN\BS\FORMS\AGENDA CERTIFICATION-FAHR COMMITTEE.DOC phone: (714) 962-2411 mailing address: P.O. Box 8127 Fountain Valley, CA S2728-8127 street address: 10844 Ellis Avenue Fountain Valley, CA S2708-7018 Member Agencies • Cities Anaheim Brea Buena Park Cypress Fountain Valley Fullerton Garden Grove Huntington Beach Irvine La Habra La Palma Los Alamitos Newport Beach Orenge Placentia Santa Ana Seal Beach Stanton Tustin Villa Park Yorba Linda County of Orange Sanitary Districts Costa Mesa Midway City Water Districts Irvine Ranch •RANGE COUNTY SANITATION DISTRICT NOTICE OF MEETING FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, JUNE 9, 1999 -5:00 P .M. DISTRICT'S ADMINISTRATIVE OFFICES 10844 ELLIS AVENUE FOUNTAIN VALLEY, CALIFORNIA 92708 A regular meeting of the Finance, Administration and Human Resources Committee of the Board of Directors of the Orange County Sanitation District, will be held at the above location, date and time. ''To Protect the Public Health and the Environment through Excellence in Wastewater Systems" FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING DATES FAHR Committee Meeting Dates June 9, 1999 July 14, 1999 None Scheduled September 8, 1999 October 13, 1999 November 10, 1999 December 8, 1999 None Scheduled February 9, 2000 March 8, 2000 April 12, 2000 June 14, 2000 Board Meeting Dates June 23, 1999 July 21, 1999 August 25, 1999 September 22, 1999 October 27, 1999 November 17, 1999 December 15, 1999 January 26, 2000 February 23, 2000 March 22, 2000 April 26, 2000 June 28, 2000 ROLL CALL FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE Meeting Date: June 9. 1999 Time: 5:00 p.m. Adjourn: ____ _ COMMITTEE MEMBERS THOMAS R. SALTARELLI (Chair) ................................................ . MARK LEYES (Vice Chair) ........................................................... . SHAWN BOYD .............................................................................. . JOHN M. GULLIXSON .................................................................. . SHIRLEY MC CRACKEN .............................................................. . MARK A. MURPHY ....................................................................... . JAMES W. SILVA .......................................................................... . JAN DEBA Y (Board Chair) ........................................................... . PEER SWAN (Board Vice Chair) ................................................. .. JOHN J. COLLINS (Past Board Chair) ......................................... . OTHERS TOM WOODRUFF, General Counsel ...........••.•••....••••••.••••••••••••••••.•• TOBY WEISSERT, Carollo Engineers ............................................. __ STAFF DON MCINTYRE, General Manager ............................................... . BLAKE ANDERSON, Assistant General Manager ......................... . ED HODGES, Director of General Services Administration ••••••••••• DAVID LUDWIN, Director of Engineering ...................................... . BOB OOTEN, Director of Operations & Maintenance .................... . MIKE PETERMAN, Director of Human Resources ......................... . GARY STREED, Director of Finance .............................................. . MICHELLE TUCHMAN, Director of Communications .................... . PATRICK MILES, Director of Information Technology .................. . ROBERT GHIRELLI, Director of Technical Services ..................... . STEVE KOZAK, Financial Manager ............................................... . MIKE WHITE, Controller ................................................................. . GREG MATHEWS, Assistant to the General Manager ................... . LISA TOMKO, Human Resources Manager ................................... . DAWN MCKINLEY, Sr. Human Resources Analyst ....................... . PENNY KYLE, Committee Secretary .............................................. . c: Lynda Heller FAHR COMMITTEE Meeting Date ToBd. 06/09/99 N/A AGENDA REPORT Item Number Item Number FAHR99-39 Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager SUBJECT: CERTIFICATES OF PARTICIPATION (COP) MONTHLY REPORT - MAY 1999 GENERAL MANAGER'S RECOMMENDATION Receive and file Certificates of Participation (COP) Monthly Report for the month of May 1999. SUMMARY Since June 1995, the daily rate COP program remarketing agents have been PaineWebber for the Series "A" and the 1993 Refunding COPs, and J.P. Morgan for the Series "C" COPs. Most fixed rate Series "8" COPs have been refunded and the 1992 Refunding COPs have always been remarketed by PaineWebber in a weekly mode. PROJECT/CONTRACT COST SUMMARY None. BUDGET IMPACT D This item has been budgeted. D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. IZJ· Not applicable (information item) ADDITIONAL INFORMATION For the month of May 1999, graphical and tabular reports are attached. The first graph entitled, "OCSD COP Rate History Report," shows the variable interest rates on each of the daily rate COPs since the last report, and the effective fixed rate for the two refunding issues which are covered by an interest rate exchange agreement commonly called a "swap." H:\wp.dta\agenda\FAHR\Fahr9!Nl9ar\FAHR99-39.doc Revised: 1/5198 Page 1 r The second bar: chart entitled, "Comparative Daily COP Rate History Report," shows the performance of the District's Daily Rate COPs as compared to a composite i.ndex rate, which represents the average rate of six similar variable rate daily reset borrowings. The third bar chart entitled, "COP Rate History, Comparison of Highest & Lowest Rates," compares the performance (monthly average interest rate) of the District's Daily Rate COPs with the highest and lowest monthly average rates from among six similar variable rate daily reset COPs. The table entitled, "Daily COP Rate Comparisons," shows the monthly variable interest rate performance of the District's Daily Rate COPs as compared to the composite index. Estimated annual interest payments calculated for a standard $100 million par amount, are also shown. Variable rates historically rise at the end of each calendar quarter, and especially at year-end, because of business taxes and statements. The rates decline to prior levels immediately in the following month. Staff maintains continuous rate monitoring and ongoing dialog with the remarketing agents to keep the Committee fully informed about developments in the program as they occur and at each meeting. ALTERNATIVES None. CEQA FINDINGS None. ATTACHMENTS 1. Graph -Comparative Daily COP Rate History Report 2. Graph -OCSD COP Daily Rate History Report 3. Graph -COP Rate History, Comparison of Highest & Lowest 4. Tabular-Daily COP Rate Comparison GGS:SK:lc H:lwp.dta\agendalFAHR\Fahr99199al\FAHR99-39.dac Revised: 1 /5198 Page2 G) "ti if C nl -c, )> Ill 0 RATE(%) 3-!!. -4 ~ m ~ Ill :li 0 .... N w .,::.. en 0) ,, ::, :r tG 0 0 0 0 0 0 0 Ill ~ ::, 0 0 0 0 0 0 0 0 0 _Cl) c6 OJ-Jun-98 t ~ ~ (Q co ~ _(0 :r w Ill ~ ::, 17-Jun-98 0 Cl) 01-Jul-98 "ti $ s:: ~ I 15-Jul-98 ::c en -I io I 29-Jul-98 T I I I ,,,,_., I 1' I T I I " 0 12-Aug-98 t ~ I I ~ I ' I I 0 en 26-Aug-98 t I l~I I t I ' I I C 09-Sep-98 f I I~ I l I ' I I 0 0 23-Sep-98 f I I I ~ l I ' I I "'tJ 07-Oct-98 C ++ )> 21-Oct-98 -)>""O r--ll) s: -< G)-· :::, 04-Nov-98 (nCD ~~ ~~ ll) CD 18-Nov-98 "O C' C' CD .. -I -, 02-Dec-98 ..Ji,m (0 16-Dec-98 + I I ~ I * I • 1 1(0:C (0 - ++ 30-Dec-98 en --f enc.. 13-Jan-99 0 o,:, ~ C'). Gls:: 27-Jan-99 coo :::, -, C/12 ::a ~:::, 10-Feb-99 "O m 24-Feb-99 "'tJ 0 10-Mar-99 t I I -,,.1 I * I • I I ::a 24-Mar-99 ~ -I 07-Apr-99 21-Apr-99 05-May-99 19-May-99 + I I ~ I ;ii( I • I I ,, I-0::: 0 Q. w 0::: > 0::: 0 I-en -:::c w I-a, ~ a, a, Q. T-.. O> 0 <t > :E _J -~ C w > -I-~ <t Q. ~ ~ 0 II. 0 .., ~ <'I ai l1:!. ... co .; <J C: GI C: 0 u:: 0 > CD .c "D ~ GI 0. ID it 0 C! It) 0 C! .... 0 C! M (%) 3.1W 0 C! N 0 C! .- 86 'AON 86 1PO 95'das 86'6n'd 86 '1nr 95'unr 0 C! w 0 ~ ~ 0 ~ w I-ii> 0 II.. :E 0 CJ • 0 en CJ 0 • -~ ~ w ... ~ 3.50 3.40 3.30 3.20 3.10 3.00 2.90 2.80 2.70 2.60 2.50 2.40 2.30 2.20 HIGH LOW f[eHtscc [:BnRWD l!I Highest rate G:\excel.dta\fin\2220¼Jeggl\Finance\RATEH 1ST _HI LO _bargraph COP RATE HISTORY COMPARISON OF HIGHEST & LOWEST RATES JP/IRWD,OCSO DOCSD/J.P. Morgan • OCSD/PaineWebber 13 Lowest rate LEHISCE JP,SB,BTnRW,JP/OCSD ········· :1:1:1:1 ?if •:❖:❖ ·•·•···•· ~~j~jt -·-······ •:•:•:❖ ·-······· •,•.·.·-· ::::::::: ·-······· ~=~:~:~:~ illl ········· )if •:❖:❖ ::::::::: ·-···-·-· :❖:-:-: ..:...:.a:..:.. Prepared by Finance, 6/1/99, 2:57 PM Prepared by Finance, 6/1/99, 3:43 PM DAILY COP RA TE HISTORY I COMPARISON OF MONTHLY AVERAGES JUNE, 1998 -MAY, 1999 OCSD $100M $98.SM $46M Series"A" Series"C" Series 93 Ref Composite Paine Webber J.P. Morgan PaineWebber Index* Jun-98 3.28 3.30 3.28 3.27 Jul-98 2.80 2.86 2.80 2.79 Aug-98 2.43 2.44 2.43 2.40 Sep-98 3.27 3.33 3.27 3.24 Oct-98 3.06 3.00 3.06 3.02 Nov-98 2.94 2.91 2.94 2.96 Oec-98 3.11 3.07 3.11 3.09 Jan-99 2.84 2.87 2.84 2.87 Feb-99 2.30 2.28 2.30 2.32 Mar-99 2.72 2.66 2.72 2.70 Apr-99 2.88 2.83 2.88 2.86 May-99 3.34 3.33 3.34 3.35 AVERAGE 2.91% 2.91% 2.91% 2.91% ESTIMATED ANNUAL INTEREST PAYMENTS PER $100M PAR AMOUNT $ 2,914,167 $ 2,906,667 $ 2,914,167 $ 2,905,833 * FOOTNOTE Composite index consists of the following COP transactions: • IRWD, Series 86, $60M, Smith Barney • IRWD, Series 93 "A" Refunding, $87.6M, Bankers Trust • IRWD, Series 93 "B" Refunding, $41 .8M, J.P. Morgan • IRWD, Series 95 Refunding, $117.8M, PaineWebber • Western Riverside Co. Reg. Wastewater Auth., Series 96, $25.4M, PaineWebber • Orange Co., Irvine Coast Asst. Dist. 88-1, $94.5M, J.P. Morgan • SCE, $192M, Lehman G:\excel.dta\fin\2220\geggi\Finance\COPdaily$rate comparison f FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Mike Peterman, Director of Human Resources Originator: Patty Steeves, Human Resources Analyst Meeting Date 6/9/99 Item Number FAHR99-40 SUBJECT: EMPLOYMENT STATUS REPORT AS OF May 19, 1999 GENERAL MANAGER'S RECOMMENDATION Receive and file the Employment Status Report. SUMMARY Total FTE headcount at the District as of May 19, 1999 was 505.5. PROJECT/CONTRACT COST SUMMARY Not applicable. BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. [8J Not applicable (information item) ADDITIONAL INFORMATION To Bd. of Dir. Item Number The District had a full-time equivalent (FTE) headcount of 505.5 as of May 19, 1999. The actual number of employees was 517. The annual turnover rate is 6.0%. There was one promotion for the following position: • From: To: Collection Facilities Worker II (Collection Facilities Maintenance) Lead Collection Facilities Worker (Collection Facilities Maintenance) ALTERNATIVES Not applicable. H:\wp.dlalagenda\FAHR1Fahr99199ar\FAHR~.dot Revised: 8/20/98 Page 1 CEQA FINDINGS Not applicable. ATTACHMENTS May 19, 1999 Employment Status Report. Performance compared to 5-Year Staffing Plah. H:\W)M!lll"'genda\FAHR\Fatir99199ar\FAl1R99-40.dot R-: 812019a Page2 Employment Status Report .. ,, .. -,,;:: , .. ,. • •. .' · R._egu/M Regula( , : • Regui.r • P•rt•tltne P•f!•tlJN • _ ·1 r -, r 110 -General Management Admin Total General Mana11ement 210 -Finance Administration 220 -Accounting 230 -Purchasing & Warehousing • • Ful/.llme 20 hou,. 30 hours Contract lnlem LOA 4.00 4.00 4.00 16.00 13.00 0.00 0.00 0.00 0.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total V11cent /3udg11t FTE Posh/on, • FTE , Count FY9S.99 98·99 4.00 4.00 • 4.00 16.00 14.00 0.00 0.00 0.00 3.00 1.00 4.00 4.00 4.00 19.00 15.00 FTE FTE 99-00 • · 00--01 4.50 4.50 4.00 17.50 15.00 4.50 4.50 4.00 16.00 15.00 Total Finance 33.00 1.00 0.00 0.00 0.00 0.00 34.00 , 4.00 38.00 36.50 35.00 31 O -Communications Total Communications 410 -General Services Admin 420 -Collection Facilities Mtce 430 -Plant Maintenance Toial General Services 510 -Human Resources Admin 520 • Education & Training "rotal Human Resources 610 • Technical Services Admin 620 • Environmental Compliance & Moni 630 • Environmental Laboratory 640 • Source Control 650 • Safety & Emergency Response Total Technical Services 710 • Engineering Administration 720 • Planning & Design Engineering 730 • Construction Management Total En11ineerlng 810 • O & M Administration 820 • O & M Process Support 830 · Plant 1 Operations 840 • Plant 2 Operations 850 • Mechanical Mtce 860 • Electrical & Instrumentation Mice 870 • Cogeneration 880 • Air Quality & Special Projects Total Operations & Maintenance 910 -IT Admin 920 • IT User Support 930 • IT Network Support 940 • IT Programming 950 • Plant Automation Total Information Technoloqy 9.00 9.00 4.00 16.50 32.50 53.00 5.00 3.00 8.00 2.00 17.00 28.00 34.00 5.00 86.00 3.00 26.00 34.00 63.00 2.00 8.00 31.00 40.00 45.50 56.50 9.00 8.00 200.00 2.00 6.00 6.00 6.00 7.00 27.00 0.00 0.00 0.00 0.00 o.oo 0.00 0.50 0.00 0.50 0.00 0.00 2.50 0.00 0.00 2.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.75 0.00 0.75 0.00 0.00 0.00 0.75 0.00 0.75 0.00 0.75 0.75 1.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 9.00 9 1.75 10.75 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.50 0.00 0.00 0.00 0.00 1.00 0.00 1.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.00 0.00 0.00 0.00 0.00 2.00 0.00 0.50 0.00 0.50 0.00 0.50 0.00 0.00 0.00 0.00 0.00 1.00 1.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.00 1.00 0.00 2.00 , 5.00 -17.50 3~,~o 55.00 1.75 1.00 • -1.00 6.00 8.00 10.75 6.00 18.50 38.50 63.00 0.00 0.00 - 6.25 3.00 0.25 2 .. 25 6.50 5.25 0.00 0.00 1.00 0.00 0.00 0.00 1.00 0.00 1.00 1.00 2.00 0.00 0.00 3.00 0.00 1.00 0.00 1.00 0.00 5.00 0.00 0.00 0.00 0.00 0.00 0.00 9.25 4.00 18.00 30.50 ' ·34.75 5.Cl_(l 92 .. 25 · 2.50 0.75 .·0,00 3.50 . 2.00 0.00 I ,.-6.25 11.75 4.75 18.00 34.00 66:75 5.QO 98.50 3.00 28.25 •· . 35.75 - ·o.oo . 3.oo ., .00 •27.25 ~.25 .37.00 ,., -· 67 0.25 -.!-!:. " ·. 2.00 '' ,0.00 ' ,9.00 ,[:-: ':!.25 _34.oo ·· • ioo -'40.00 3.00 • 46.50 6.00 56.50 · -· 2.00· 11 .00 0.00 9.00 -1.00 208.00 2.00 a:oo 6.00 6.00 7.00 27.00 15.25 1.00 •1.00 -1.00 0.00 0.00 •1.00 67.25 2.00 .11:25 37.00 43.00 '52.50 I t58.50 11~00 8.00 223.25 3.00 5.00 .5.00 ·6.00 7.00 26.00 9.75 9.75 6.00 18.50 28.50 53.00 6.75 4.00 10.75 4.00 18.50 29.00 35.75 5.50 92.75 3.00 31.50 37.50 72.00 2.00 9.25 35.00 37.00 48.50 57.50 13.00 7.00 209.25 4.00 8.00 6.00 7.00 8.00 33.00 9.75 9.75 6.00 18.50 28.50 53.00 6.75 4.00 10.75 4.00 18.50 29.00 34.75 5.00 91.25 3.00 31.50 37.50 72.00 2.00 8.25 35.00 37.00 47.50 56.50 13.00 7.00 206.25 4.00 8.00 6.00 7.00 8.00 33.00 Run Dal~: 1 O-Mav-99 • Positions FTE w(ln_S yr plan 01·02 ' IFY99-00) 4.50 4.50 4.00 14.50 15.00 33.50 9.75 9.75 6.00 18.50 27.50 52.00 6.50 3.00 9.5 4.00 18.50 28.00 33.75 5.00 89.25 3.00 31.50 37.50 72.00 2.00 8.25 35.00 37.00 45.50 56.50 13.00 7.00 ·204.25 4.00 8.00 6.00 7.00 8.00 33.00 0.50 0.50 0.00 1.50 1.00 2.50 0.75 0.75 1.00 1.00 -4.00 -2.00 0.50 1.00 1.50 0.00 0.50 -1.50 1.00 0.50 0.50 0.00 3.25 1.75 5.00 0.00 0.25 1.00 -3.00 2.00 1.00 2.00 ·2.00 1.25 2.00 2.00 0.00 1.00 1.00 6.00 Total Staffing 483.00I 4.ool 3;001 1.501 4.ool 10.00 505.5 37 542.50 521.50 515.50 507.75 16.00 g:lexcel.dlalhr\510\sleeves\EMPBUDGET Performance to 5-Year Staffing Plan 570 ,---------------------- 560 r--..-:::-:-:::-:-::::~~------------------ 550 ·------------------------------- 540 t"¥'-----~:..____.:_-~~=------______:..:::..:..:::..-=:_:-=--------- 530 .__ --.... ..__ 520 -----.__ 510 1 _______________ _:__ _ ____:~~-- 500 ,----------------------- 490 r-----------------------480 I • FTE Headcount I --• · -5 Year Staffing Plan I 470 ----~~~~~~~~~~~~-+---.-~-,--~.....---,--~.....-.....-~---,---------, J A S O N D J F M A M J J A S O N D J F M A M J I FY 97-98 I I FY 98-99 FAHR COMMITTEE Meeting Date 6/9/99 AGENDA REPORT Item Number FAHR99-41 Orange County Sanitation District FROM: Don McIntyre, General Manager Originator: Greg Mathews, Principal Administrative Analyst SUBJECT: PROPOSED FY 1999-00 STRATEGIC GOALS WORKPLAN GENERAL MANAGER'S RECOMMENDATION Receive and file 1999/00 Strategic Goals Workplan. SUMMARY The Strategic Goals Workplan is an annual planning tool designed to assist staff in reaching best-in-class status. The attached represents an internal tool utilized by management for the purpose of evaluating major program accomplishments. The Workplan details projects, programs, objectives and tasks designed to achieve these District-wide Strategic Goals: • Consistently Employ Strategic and Tactical Resource Planning. • Develop and Maintain an Effective and Efficient Workforce. • Consistently Apply Appropriate Technology. • Consistently Deliver Excellent Public Health and Environment Protection. • Consistently Deliver an Excellent Level of Service. The FY '99-00 Workplan development process represented additional refinements to prior work products. Both the Board of Directors and District staff suggested an increased focus on core business during the workplan development period. As a result, significant resource planning was involved prior to Strategic Goal task development. Full-time Equivalents (FTEs) were first assigned to Core Business and Unplanned Events, and then finally to Strategic Goal tasks. The results of this exercise have shown that the vast majority of District effort is dedicated to Core Business, with limited time available for re- engineering efforts associated with the Strategic Goals. It is clear that Strategic Goals are critical to the success of this agency; yet it is also clear that as the District re-engineers and "right-sizes," it will be increasingly difficult to balance the need for strategic goal work with core business functions. \lradon\dala1 'wp.dtalagendalFAHRIFahr99\99arlFAHR99--11 .doc Revised: 115.'118 Page 1 ToJt. Bds. 6/'23/99 Item Number PROJECT/CONTRACT COST SUMMARY Not Applicable. BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. [8J Not applicable (information item) ADDITIONAL INFORMATION Not Applicable. ALTERNATIVES Not Applicable. CEQA FINDINGS Not Applicable. ATTACHMENTS FY 1999-00 Workplan Report H:lwp.dla\agenda\FAHR\Fahr99199ar\FAHR99-41.doc Revised: 115198 Page2 FAHR CO-MMITTEE Meeting Date To Jt. Bds. 06/09/99 06/23/99 AGENDA REPORT Item Number Item Number FAHR99-42 County Sanitation Districts of Orange County, California FROM: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager SUBJECT: ANNUAL RENEWAL OF THE DISTRICT'S ALL-RISK PROPERTY AND EARTHQUAKE INSURANCE PROGRAM, 'FY 1999-00 GENERAL MANAGER'S RECOMMENDATION Renew the District's All-Risk Property and Earthquake Insurance Program for the period June 25, 1999 to May 15, 2000, in an amount not to exceed $890,250. SUMMARY This agenda item recommends the annual renewal of All-Risk Property and Earthquake insurance coverage for the District for FY 1999-00. The All-Risk insurance program provides comprehensive coverage for the District's real and personal property from all perils including fire, flood, earthquake, and business interruption. The 1999-00 All-Risk program is recommended for renewal with coverage enhance- ments including an increased $300 million loss sublimit for fire damage, and an increased $65 million loss sublimit for earthquake damage. At the same time, premium costs for 1999-00 will be at least $108,650 lower than last years premium. The coverage enhancements and premium cost savings are related to placement of coverage through a recently completed nation-wide joint purchase property insurance program. Since the inception date of the program is May 15, 1999, the District's FY 99- 00 renewal period will be June 25, 1999 (expiration date of current policy) to May 15, 2000. Thereafter, the annual renewal cycle will be May 15 to May 15. This year's premium cost will be pro-rated to match the actual term of coverage (approximately $816,062). PROJECT/CONTRACT COST SUMMARY N/A H:lwp.dta\agenda\FAHR\Fahr99199ar\FAHR~2.doc Rellised: 1 /5198 Page 1 BUDGET IMPACT C8;l This item has been budgeted (Joint Operating Insurance -$1,100,000}. D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. D Not applicable (information item} ADDITIONAL INFORMATION Background The District's FY 1998-99 All-Risk program has covered the District's property with a $300 million blanket loss limit for all perils, and with a $200 million sublimit for flood damage, and a $40 million sublimit for earthquake damage. The deductible for earthquake related claims is subject to a $100,000 minimum per occurrence. The deductible for all other perils is $25,000 per occurrence. Multiple insurance carriers underwrite the All-Risk program to distribute risk exposure and to ensure competitively bid premiums. Thus, the District's premium costs are controlled while obtaining maximum coverage levels for the Districts. 1999-00 Renewal Cycle At deadline for this report, Robert F. Driver Associates, the District's Broker of Record, had marketed renewal of the District's All-Risk program to multiple insurance carriers. This renewal option would maintain the existing levels of coverage, but with a lower premium cost than last year's program ($895,000 vs. $998,900}. Additionally, Driver developed an alternative renewal proposal through a recently completed nation-wide joint purchase property insurance program (Public Entity Property Insurance Program}. As a result of the significant purchasing power ($19 million combined annual premium) of the joint purchase program, combined with pricing improvements in the property and casualty insurance market, this renewal opt_ion would improve the coverages of the District's 1999-00 All-Risk program, and would further reduce premium costs by at least $108,650 below last year's premium ($890,250 vs. $998,900}. It is important to note that the joint purchase property insurance program involves no pooling or sharing of coverages with any other public entities. It should be noted that this year'$ premium represents a third consecutive year of cost savings, as the FY 1998-99 premium cost was $116,091 below the FY 1997-98 premium, and the FY 1997-98 premium cost was $102,925 lower than the FY 1996-97 premium. H:lwp.dtalagenda\FAHR\Fahr99199ao\FAHR99-42.doc ReYised: 1/S/98 Page2 Recommendation The 1999-00 All-Risk program is recommended for renewal through the joint purchase program with an enhanced $300 million loss limit for flood damage; a $100 million increase in coverage above the current $200 million limit, and an enhanced $65 million loss limit for earthquake coverage; a $15 million increase in coverage above the current $40 million limit. The attached Driver letter summarizes coverage and cost information for the 1999-00 All-Risk property insurance renewal. The annualized premium cost for FY 1999-00 will not exceed $890,250, including taxes and fees. The actual premium will be pro-rated to match the actual term of coverage, which will be June 25, 1999 to May 15, 2000 (approximately $816,062). ALTERNATIVES None. CEQA FINDINGS N/A ATTACHMENTS 1. Robert F. Driver Associates Letter Dated May 26, 1999 H:lwp.dta\agenda\FAHR\Fahr99199ar\FAHR99--42.doc Revised: 1 /5198 Page3 ROBERT F. DRIVER ASSOCIATES a Division of Robert F. Driver Co., Inc. ASSOCIATES' Founded on knowledge, integrity and serl'ice. May 26, 1999 Mr. Steve Kozak Financial Manager Orange County Sanitation District P.O. Box 8127 Fountain Valley, CA 92728 RE: All Risk Property Insurance Renewal, FY 99-00 Dear Steve, We have now concluded our marketing efforts for the June 25, 1999 renewal and are pleased to present two attractive options for your consideration. As marketplace conditions remain favorable, we have aggressively negotiated an approximate ten percent reduction in premium costs for renewal of the current program -$895,000 (vs. $998,900 currently) -at a $300 000,000 coverage limit, subject to a $200,000,000 flood sub-limit and a $40,000,000 earthquake sub-limit. We have been successful in recently implementing a large and complex joint purchase property insurance program (similar to our excess workers' compensation and general liability insurance- programs) which we believe offers an even more attractive alternative -an annual premium cost of $890,250 inclusive of taxes and fees at a $300,000,000 coverage limit, with increased sub-limits: $300,000,000 for flood and $65,000,000 for earthquake. Note that there is no pooling or sharing of coverage with other entities under this program in which we have taken advantage of scale economies (the combined premium is in excess of $19,000,000) and the marketplace environment to develop significantly more earthquake coverage at minimal cost, with insurers all designated A by A.M. Best's Rating Guide. Please review these quotations at your earliest convenience so that we may discuss in more detail as warranted. We recommend the group purchase program (PEPIP) option for its obvious cost and coverage benefits as well as for what we envision to be a much more stable placement should marketplace conditions deteriorate. Newport Beach -10-1 I 1\/uc.4.rtlwr B/1•t!., #.?00. /J. 0. llo.r 6-150, Nn1porr Reach, C'uli}t1mill 92658-6-150 • (9-19) 756-0271 • Fll.r (9-ISJJ 756-2713 Lie# OC36R6 I • \1'11'11'. r(d1frer. CO/II San Diego Escondido Sacra1111mto Fresno San Francisco Mr. Kozak May 26, 1999 Page two We shall forward a schedule of participating insurers and a summary detailing important policy terms and conditions under separate cover. Sincerely, ROBERT F. DRIVER ASSOCIATES ,..,......._ 1 .. / /!-· / ' .// )_ / j / ,,-.. / I . . .,,-j --L---· (_/ ,____ ---.... ./ ~___,, Donald H. McLean, Jr/ ' '\ First Vice President DHM/jd Attachement , I FAtlR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Mike Peterman, Director of Human Resources SUBJECT: TEMPORARY EMPLOYMENT SERVICES GENERAL MANAGER'S RECOMMENDATION Meeting Date To Bd. of Dir. 6/9/99 6/26/99 Item Number Item Number FAHR99-50 1. Award contracts for Temporary Employment Services (Specification No. P-186) to the following support staffing firms for a period of one year, renewable for a period of four years, and cancelable at any time, for a total amount not to exceed $1 million: General Agency • Apple One Tecnnical Agencies • Principal Technical Services, Inc. -Engineering and IT Personnel • EPC Consultants, Inc. -Engineering Personnel • DOB Engineering, Inc. -Engineering Personnel • Two Roads Professional Resources, Inc. -Engineering Personnel • Project Partners -Engineering Personnel • T ek Systems -IT Personnel • Lab Support -Laboratory personnel 2. Authorize staff to enter into additional agreements with other temporary firms as they become known to District's staff, provided it is within budget guidelines. SUMMARY The District has typically had short-term, low-volume temporary staffing needs and has contracted with one or two agencies to fulfill them. However, temporary staffing utilization is increasing with additional Engineering and IT projects. Since the increase in temporary costs exceeds $100,000, Board approval is needed. Three-quarters of the District's temporary labor needs are due to the increase in capital projects for the next five years. The Engineering department has already obtained approval from the Planning and Design Committee for the increase in the temporary staffing budget and will continue to provide the PDC with regular updates. Human Resources has interviewed each company listed in the recommendation and is satisfied that they can meet administrative requirements of doing business with the District. In the General Agency category, Apple One has agreed to a 40-50% markup rate for general, clerical, and light industrial staffing. Other companies have been used H:lwp.dta\agendalFAHRIFaho99199allFAHR99-50,dot Revised: 8/20/98 Page 1 in the past, but only Apple One has been able to consistently supply the District with high quality temporary employees. The technical firms work a little differently than the general temporary agencies. Instead of negotiating a markup rate up front, the Engineeri'ng and IT departments plan to put temporary staffing opportunities out to all of the qu.alified firms above and have them compete against each other for each assignment. Those companies who find the most qualified candidate at the lowest price will be selected on a case-by-case basis. Instead of listing out all of the requirements that the temporary staffing firms need in order to do business with the District, a copy of the District's generic temporary services contract is attached. Each company will need to sign it, or one like it, and agree to the proper insurance and employment practices. Because there may be other technical agencies we wish to use, and because the posting of the jobs will be an openly competitive process, staff is asking for the authority to enter into similar agreements with other agencies without having to return to the Board to approve each agency. PROJECT/CONTRACT COST SUMMARY Not to exceed $1 million BUDGET IMPACT IE] This item has .been budgeted. (!-ine item: J.O. Contractual Services and Capital Improvement Budgets) D This item has been budgeted, but there are insufficient funds. D This item has not' been budgeted. D Not applicable (information item) ADDITIONAL INFORMATION N/A ALTERNATIVES Hire additional regular, full-time employees for an indefinite period or on a contractual basis. CEQA FINDINGS N/A ATTACHMENTS Sample generic Temporary Services Contract H:lwp.cllalagencla\FAHR\Fahr99199ar\FAHR99-50.dot Revised: 8l20l98 Page2 ... I TEMPORARY EMPLOYMENT SERVICES Agreement Between <SELLER FULL NAME> (Seller's Company Name) And The Orange County Sanitation District "OCSD" Agreement Number: Agreement Period: To Signatures: The undersigned agree that this document, consisting of __ _ pages and Exhibits _____ through _____ attached, is intended by the parties as the final expression of their agreement and is the complete and exclusive statement of the terms and and conditions. Orange County Sanitation District 10844 Ellis Avenue Fountain Valley, CA 92708 Authorized Representative Srgnature Date <SELLER FULL NAME> Seller's Company's Name Authorized Representative Signature Date 1. INTRODUCTION 1.1 This Agreement and all attachments (called the "Agreement") is made by <BUYER FULL NAME> ("OCSD") and <SELLER FULL NAME> ("<SELLER>"). OCSD's worldwide subsidiaries may place orders under this Agreement. <SELLER> shall mean its employees, agents, and subcontractors. The Terms and Conditions herein exclusively govern the purchase and sale of <GOODS/SERVICES> described in Exhibit A Scope attached hereto and incorporated herein by reference. 1.2 1.3 1.4 1.5 1.6 1.7 This Agreement is the complete and entire understanding between the parties on this subject matter and supersedes all prior agreements, discussions, proposals, representations, statements, or understandings whether written or oral. The provisions of this Agreement may be amended or waived only by a writing executed by authorized representatives of both parties hereto. <SELLER>, including its agents and employees, is an independent contractor and not an agent or employee of OCSD. <SELLER> is NOT authorized to represent and OCSD expressly disclaims any liability resulting from such misrepresentation. In the event that either party to this Agreement shall, on any occasion, fail to perform any provision of this Agreement, and the other party does not enforce that provision, the failure to enforce shall not prevent enforcement of the provision on any other occasion. If any term of this Agreement conflicts with any term of an issued Purchase Order, this Agreement shall supersede the Purchase Order. The term DAYS, when used in the Agreement, shall mean business days, unless otherwise noted as calendar days. Except as expressly provided otherwise, OCSD accepts no liability for any expenses, losses, or action incurred or undertaken by <SELLER> as a result of work performed in anticipation of purchases of said goods or services by OCSD. 1.8 This Agreement does not specify a quantity of goods or services to be purchased by OCSD, NOR DOES THIS AGREEMENT OBLIGATE OCSD TO PURCHASE ANY goods or services. All such quantities will be specified on OCSD's order(s) as defined in the Section on Purchase Orders, issued under the provisions of this Agreement and incorporated herein by reference. 2. PURCHASE ORDERS 2.1 This term "Purchase Order" shall mean OCSD's written Purchase Order form and/or Purchase Orders transmitted electronically and any documents incorporated therein by reference. 2.2 OCSD will order goods or services by issuing telex, facsimile, telephonic orders, or written Purchase Orders. OCSD will issue confirming written Purchase Orders within five (5) days after issuing such telex, facsimile, or telephonic orders. 2.2A 2.3 2.4 OCSD will order goods or services by issuing telex, facsimile, telephonic orders, or written Purchase Orders. OCSD will issue confirming written Purchase Orders within five (5) days after issuing such telex, facsimile, or telephonic orders. For Purchase Orders transmitted electronically, <SELLER> shall notify OCSD within one (1) day of receipt of a Purchase Order that <SELLER> has received such a Purchase Order in a readable and understandable format. The parties acknowledge that written Purchase Orders will not be issued for Purchase Orders transmitted electronically. The parties further agree not to contest the validity or enforceability of Purchase Orders transmitted electronically under the provisions of applicable law requiring that contracts be in writing and signed by the party to be bound. Each Purchase Order will specify items such as: goods or services, quantity, delivery schedule, destination, total price of the Purchase Order. Each Purchase Order issued under this Agreement shall be made part of, and be incorporated into this Agreement, and shall reference this Agreement number on the face of each Purchase Order. Should any Purchase Order not conform to or satisfy the terms of this Agreement, <SELLER> shall have five (5) days after receipt to reject the Purchase Order. By not rejecting the Purchase Order within five (5) days, <SELLER> will have accepted the Purchase Order. Acceptance by <SELLER> is limited to the provisions of the Agreement and the Purchase Order. No additional or different provisions proposed by <SELLER> shall apply. In addition, the parties agree that this Agreement and issued Purchase Orders constitute a contract for the sale of goods and/or services and satisfy all statutory and legal formalities of a contract. OCSD shall use its best efforts not to issue individual Purchase Orders for the purchase of goods or services with an invoice value of less than ____ dollars. 3. AGREEMENT PERIOD 3.1 The period during which OCSD may issue Purchase Orders under this Agreement (Agreement Period) shall last three (3) years, beginning on <EFFECTIVE DATE> (Effective Date) and ending on <EXPIRATION DATE> (Expiration Date) unless otherwise extended by mutual written consent by both parties. 3.1A The period during which OCSD may issue Purchase Orders under this Agreement (Agreement Period) shall begin on <EFFECTIVE DATE> (Effective Date) and shall continue so long as both parties perform in accordance with this Agreement. This Agreement will terminate upon mutual written agreement by both parties or as otherwise provided in the Termination section. 4. PRICING FOR SERVICES 4.1 The prices for services are set forth in Exhibit A Scope and shall remain fixed for the period set forth therein (Pricing Period). Thirty (30) days prior to the end of the current Pricing Period, OCSD and <SELLER> shall review the Pricing and Scope for the next Pricing Period. Should OCSD and <SELLER> reach agreement, a new Exhibit A Scope will be written for the next Pricing Period and shall be added as an amendment to this Agreement. If OCSD and <SELLER> do not reach an agreement on the next Pricing Period, this Agreement shall end the current Pricing Period. 4.1A 4.2 The prices for services are set forth in Exhibit A Scope and its amendments, and shall remain fixed during the Agreement Period and any extension thereof. <SELLER> represents that prices established in Exhibit A Scope to be paid by OCSD, shall not exceed the prices charged to any other customer of <SELLER> for services which are the same or substantially similar to these services, taking into account the quantities and terms of this Agreement. Moreover, <SELLER> agrees to refund any excess amounts paid by OCSD. 5. PAYMENT 5.1 OCSD shall forward payment thirty (30) calendar days after the later of the scheduled completion or delivery date, or the receipt of a correct invoice which references OCSD's purchase order number, or receipt of conforming goods or services. 5.2 Amounts owed to OCSD due to rejections or returns of non .conforming goods or services will be, at OCSD's option, either credited against current or future invoices or paid by <SELLER> within thirty (30) days from <SELLER>'s receipt of both a request for payment and return of non conforming goods from OCSD. 6. TERMINATION 6.1 6.2 The occurrence of any of the following constitutes a breach by <SELLER> unless corrected by <SELLER> within five (5) days. <SELLER> failure to deliver goods and/or perform services on time. Goods delivered and/or services performed by <SELLER> do not conform with the terms set forth in this Agreement. <SELLER> fails to perform any material provision of this Agreement. OCSD and <SELLER> do not reach an agreement on the next Pricing Period. <SELLER> assigns this Agreement, or any obligation or rights hereunder. (The term "assign" to include, without limitation, a transfer of majority.) <SELLER> sells or merges with a third-party (not a parent or subsidiary company) without the prior written consent of OCSD. <SELLER> becomes insolvent or makes an assignment for the benefit of creditors, or a receiver, or similar officer is appointed to take charge of all or part of <SELLER>'s assets. <SELLER> shall cure any of the above breaches and notify OCSD of such cure within five (5) days from receipt of a notice to cure from OCSD. If <SELLER> fails to cure, OCSD may terminate this Agreement and/or any Purchase Order(s) issued hereunder by giving <SELLER> written notice. OCSD shall have no liability to <SELLER> thereafter except for payment of any balance due for conforming goods delivered or services performed prior to the date of OCSD's notice to cure. OCSD may, at its option and without regard to <SELLER>'s ability to cure, terminate this Agreement and/or any Purchase Order(s) issued hereunder for cause in the event of any second or subsequent instances of the above breaches by <SELLER>. 7. NOTIFICATION 7.1 Any notice given under this Agreement shall be written, or sent by telex, or facsimile. Written notice shall be sent by registered or certified mail, postage prepaid, return receipt requested, or by any other overnight delivery service which delivers to the noticed destination and provides proof of delivery to the sender. Any telex or facsimile notice must be followed within three (3) days by written notice. All notices shall be effective when first received at the following addresses: If to <SELLER>: If to OCSD: with copies to: with copies to: 8. CONFIDENTIALITY 8.1 8.2 Both parties shall maintain, as confidential, and shall not disclose to any person outside its employ, nor use for purposes other than performance of this Agreement, any specifications, drawings, blueprints, data, business information, or other confidential information which is learned by virtue of this Agreement, except where required by law. Upon expiration of this Agreement, both parties shall promptly return all confidential material and copies to the other party. Unless otherwise determined in writing by <SELLER>, OCSD may reproduce and use <SELLER>'s documentation provided by <SELLER> under this Agreement. 9. HOLD HARMLESS 9.1 <SELLER> shall defend, indemnify, and hold OCSD, its officers, directors, agents, and employees harmless from and against any and all claims, losses, expenses (including reasonable attorney's fees), demands, or judgments ("Claims") which results from or arise out of: The presence of the <SELLER>, or equipment, or tools used by <SELLER> in the performance of this Agreement on the property of OCSD or its customers; or 9.3 9.2 The acts, errors, omissions, or negligence of <SELLER> while on the property of OCSD or its customers, regardless of whether the loss, damage, or injury resulting from same occurs after the <SELLER> has left such property; or The use by <SELLER> of OCSD's equipment, tools, or facilities whether or not any claims are based upon the condition of the equipment, tools, or facilities or OCSD's, its agents, or employees alleged negligence in permitting its use; or The nonpayment by <SELLER> of any monies due and owing a third party with whom <SELLER> has contracted at any time during the term of this Agreement or any extension thereof. <SELLER> agrees to carry at all times and with companies acceptable to OCSD, insurance of the kinds listed below: a. Worker's Compensation coverage. b. Employer Liability Self Insurance. c. Comprehensive General Liability including Contractual Liability, Independent Contractor's Liability, Products and/or Completed Operations Liability, and Personal Injury/Property Damage Coverages. d. Automobile Liability for owned, non-owned, and hired vehicles. <SELLER> further agrees to furnish OCSD with Certificates of Insurance evidencing the specified coverages and stating that the policies may not be changed or terminated without at least ten (10) days prior written notice to OCSD. 10. APPLICABLE LAWS AND REGULATIONS 10. 1 <SELLER> shall comply with all applicable federal, state, and local laws, rules, and regulations. The <SELLER> also agrees to indemnify and hold harmless from any and all damages and liabilities assessed against OCSD as a result of the <SELLER>'s non compliance therewith. Any permission required by law to be included herein shall be deemed included as a part of this Agreement whether or not specifically referenced. 11. FORUM FOR ENFORCEMENT 11.1 This Agreement and any Purchase Order issued hereunder shall be governed by and interpreted in accordance with the laws of <STATE>. 11.2 Any controversy or claim arising out of, in connection with, or relating to this Agreement or a breach thereof shall be settled by arbitration under the arbitration rules of the _____ _ (indicate local arbitration board). The arbitration proceeding shall be governed by the Statutes of the State of <STATE>, and the proceeding shall be held in the City in that State where the principal office is located. Anything to the contrary contained in the above mentioned rules and statutes notwithstanding, the parties consent that any papers, notices, or process necessary or proper for the institution or continuance of, or relating to any arbitration proceeding, or for the confirmation of an award and entry of judgment on any award made, including appeals in connection with any judgment or award, may be served on each of the parties by registered mail addressed to the party at the principal office of the party or by personal service on the party in or without the above mentioned state. The parties hereby recognize and consent to the above mentioned arbitration association's jurisdiction over each and every one of them. 12. DISPUTES 12.1 Any dispute arising under this Agreement which is not resolved by the OCSD and <SELLER> shall be decided by a court of law under the terms of the section on Forum for Enforcement. Pending settlement of the final decision by the court, <SELLER> shall proceed diligently with the performance of the Agreement in accordance with OCSD's direction. 13. EXHIBIT A SCOPE -TEMPORARY EMPLOYMENT AGENCY 13.1 13.2 <SELLER> shall provide OCSD with qualified Contract Workers upon receipt of OCSD's Purchase Orders. To fulfill this requirement, <SELLER> shall, among other things; -Understand thoroughly all qualifications and performance requirements which OCSD expects of Contract Workers and ensure that all Contract Workers satisfy those requirements. -Review and verify potential Contract Worker's professional, educational, personal, and other qualifications. -Personally interview potential Contract Workers and perform reference checks with previous employers and others. -Obtain Contract Worker's permission before submitting the Worker's resume or other employment information to OCSD. -Upon OCSD's request, arrange interviews with OCSD representatives. At OCSD's option, such interviews shall be conducted at OCSD's facrlities. -Certify individual Contract Worker's physical and mental fitness for the job. Examination for physical and mental fitness certification by <SELLER> or its agents shall occur only after <SELLER> has made an offer of employment/placement. -Make placements on a first in time, most qualified basis without regard to race, color, religion, sex, national origin, handicap, or age. If OCSD advises <SELLER> that a specific position requires safety equipment of any sort, (including, for example, metal toe protectors, steel toed shoes, safety glasses, etc.) licenses, or certificates of training, <SELLER> shall ensure that Contract Worker has such safety equipment, licenses or certificates of training prior to performing any Service for OCSD. Such certificates of training or licenses shall be made available to OCSD upon request. If Contract Worker(s) does not have required equipment or training when scheduled to perform Services, OCSD may, at its option: -Provide such equipment or training to Contract Worker, the cost of which shall be borne by the <SELLER> and deducted by OCSD from the next weekly <SELLER> invoice. -Refuse to accept the Services of any such Contract Worker(s). -Remove Contract Worker(s) for failure to obtain required equipment or training. 13.3 OCSD shall have no liability to the <SELLER> in the event a Contract Worker registers with another third party agency and is thereafter placed with OCSD. 13.4 COMPENSATION, BENEFITS <SELLER> shall employ Contract Workers and shall be solely responsible to establish the methods of compensation and benefits during their employment by <SELLER>. All Contract Workers shall be "W-2" employees of <SELLER>. <SELLER> shall comply with all federal, state, and local laws regarding wages and hours for Contract Workers. <SELLER> shall pay Contract Workers directly and shall withhold any applicable employment taxes including, but not limited to, any federal, state, county, or city withholding taxes, unemployment tax, and Federal Social Security withholding amounts. <SELLER> shall be responsible for unemployment compensation contributions and/or coverage and workman's compensation contributions and/or coverage for all Contract Workers placed with OCSD. <SELLER> shall be the provider of any and all benefits including medical or disability benefits. As provided in 13.12, Contract Workers are not entitled to any OCSD benefits and are not entitled to participate in any benefit plans that are open to those individuals listed on OCSD's payroll as regular employees. Contract workers shall remain ineligible for such benefits or participation in such benefit plans even if a court later decides that OCSD misclassified the workers for tax purposes. 13.5 NO INTERRUPTIONS/OTHER ASSIGNMENTS If a Contract Worker fails to appear for work for any reason, the <SELLER> will be obligated to provide other qualified labor so that no interruption shall occur. Upon termination of a Contract Worker's assignment, OCSD will advise <SELLER> whether or not that Contract Worker is eligible to return to OCSD for other assignments after thirty (30) days. 13.6 HOURS WORKED. Contract Workers are paid for time worked and not or holidays or other days or hours during which no work is performed. MEAL BREAKS. Contract Workers are not paid for lunch or other meal periods during a work day. Meal periods should be reflected in submitted time slips and invoices. 13.7 OVERTIME Overtime shall be determined as follows: -Overtime shall be paid at the rate of time and one-half for all hours worked in excess of eight (8) hours in any one day. -If a shift or extended work period goes past midnight, all consecutive hours worked after midnight are considered part of the previous day. -Overtime shall also be paid at the rate of time and one-half for all hours worked in excess of forty (40) hours in any one work week. 13.8 NO HOLIDAY PREMIUM In the event that the Contract Worker is required to perform work on OCSD's assignable holidays, no hourly rate premium shall be paid. 13.9 <SELLER>'s Fee. OCSD shall pay <SELLER> a fee which is calculated by multiplying the bill rate for the particular job code by the number of hours worked by the Contract Worker (not including meal periods). <SELLER>'s Mark-up (to cover expenses, profit, and enhancements to Contract Worker's compensation/benefits package, (if any), shall be a percentage of each Contract Worker's Direct Labor Rate. 13.10 DIRECT LABOR RA TE Seller shall pay, at minimum, the "Direct Labor Rate" to its Contract Workers. 13.11 SHUTDOWNS When facility shutdowns occur due to factors beyond OCSD's control, payment to Agency for Contract Worker's Services shall only be, as in all other instances, for actual hours worked. 13.12 BENEFITS/ACTIVITIES Contract Workers are employees of <SELLER>. Contract workers are not entitled to any OCSD benefits that are given to those individuals listed on OCSD's payroll as regular employees. Contract workers are ineligible to join or participate in any benefit plans offered to those individuals listed on OCSD's payroll as regular employees. Contract workers shall remain ineligible for such benefits or participation in such benefit plans even if a court later decides that OCSD misclassified the workers for tax purposes. 13.13 WEEKLY INVOICES <SELLER> shall submit invoices at one week intervals unless Contract Worker services have been completed. Such weekly invoices shall have all necessary time cards attached. 13.14 OCSD has the right to hire and may hire Contract Workers into its own workforce at any time without liability to <SELLER>. OCSD may remove from OCSD's facilities any Contract Worker with or without cause at any time, and shall give <SELLER> written or oral notice of such removal within forty-eight (48) hours or during <SELLER>'s next regular business hours, if later. Upon removal of a Contract Worker, <SELLER> shall: -Immediately stop provision of services by the affected Contract Worker(s), and ensure the Contract Worker does not report for work the following scheduled work day. -Notify <SELLER> of fees incurred up to the date of removal. Such fees shall not exceed, and OCSD will not be obligated to pay fees more than the unpaid balance due for the actual hours worked by such Contract Worker(s) prior to OCSD's removal of the Contract Worker. -Not replace any Contract Worker who has been removed unless so requested by OCSD. -Not fill any order with a Contract Worker who has previously been removed without the prior approval of OCSD. 13.15 RATES DIRECT LABOR RA TE (DR) BILL RATE (BR) MARK UP PERCENTAGE (MU) PER HOUR JOB DESCRIPTION 1 ST 2ND SHIFT SHIFT 3RD MU% SHIFT --------------------------------------- FAHR COMMITTEE Meeting Date To Bd. of Dir. 06/09/99 N/A ' AGENDA REPORT Item Number Item Number Orange County Sanitation District FROM: Blake P. Anderson, Assistant General Manager Originator: Gary G. Streed, Director of Finance FAHR9!H3 SUBJECT: TRANSFER ASSETS AND SERVICE RESPONSIBILITY FOR PARK PLACE (MICHELSON STATION) SERVICE AREA GENERAL MANAGER'S RECOMMENDATION Approve agreement with Irvine Ranch Water District (IRWD) in connection with transferring assets and service responsibility for Park Place (Michelson Station) Service Area to IRWD, at no additional cost to the District. SUMMARY The FAHR Committee was last briefed on this issue at your April meeting. Since then a draft agreement to transfer all assets and responsibilities from OCSD Revenue Area 7 to OCSD Revenue Area 14 has been prepared. Ultimately, an agreement will need to include the Irvine Ranch Water District (the RIA 14 local service provider), and the Crow-Winthrop Development Limited Partnership (Park Place Service Area Agreement party). CWDLP has hired Steve Sheldon & Associates to help them better understand the local political process, and they have dropped their previously threatened lawsuit. Staff continues to work with IRWD staff, CWDLP and their consultant. We expect to have an update on the status of the draft agreement at the Committee meeting. PROJECT/CONTRACT COST SUMMARY There would be no cost to OCSD. Costs of OCSD treatment and OCSD capacity purchases would be paid by IRWD. Property taxes currently allocated to OCSD Revenue Area 7 would be transferred to OCSD Revenue Area 14. Connection fees for future development will be foregone by OCSD, but paid to IRWD. Future O&M costs for the station, coJlection system, treatment and disposal processes would be paid by IRWD. BUDGET IMPACT D This item has been budgeted. D This item has been budgeted, but there are insufficient funds. \lradon\data1wp.dtalagenda\FAHR\Fahr99\99ai\FAHR99--C3.doc Revised: 8/20/98 Page 1 D This item has not been budgeted. IZI Not applicable (information item) ADDITIONAL INFORMATION NIA ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS 1. Draft agreement \lradonldata1'wp.dtalagenda\FAHR\Fahr99199ar\FAHR99--e.doc Revised: 8l20t'98 Page2 WUU.UKUrr ::>rKH.UL..!1'1 C. ;:)I 11"'1KI DRAFT AGREEMENT THIS AGREEMENT, is made and entered into, to be effective the __ day of ___ , 1999, by and between Orange County Sanitation District (hereinafter referred to as "OCSD"), and Irvine Ranch Water District (hereinafter "IRWD"). RECITALS WHEREAS, OCSD is a county sanitation district duly organized and existing pursuant to the County Sanitation District Act, California Health & Safety Code sections 4700 et seq., which provide for the ownership, operation and maintenance of wastewater collection, treatment and disposal facilities; WHEREAS, IRWD is a water district duly organized and existing pursuant to the California Water District Act, California Water Code sections 34000 et seq.; WHEREAS, OCSD's predecessors were nine county sanitation districts organized and existing pursuant to the County Sanitation District Act which districts were consolidated into OCSD effective July 1, 1998; WHEREAS, Crow Winthrop Development Limited Partnership (hereinafter "CWDLP") is the developer of a commercial, retail and office project known as Park Place, which development project is bounded by the 405 Freeway, Jamboree Road and Michelson Drive in the City of Irvine: WHEREAS, one of the predecessor districts, County Sanitation District No. 7 of Orange County, California (hereinafter "District No. 7") entered into an agreement, effective December 12, 1990, with CWDLP through which, in part, District No. 7 constructed for the primary benefit of the Park Place project, the Michelson Sewer Lift Station (hereinafter .,MSLS") within the Park Place project and the property on which the 1 05124189 Draft WUULJr.urr ;:,rr.nLJL!I~ "' ;:,1 ,nr,, DRAf'I MSLS was located was deeded in fee to District No. 7. The MSLS was and is necessary in order to provide sewerage service to the Park Place development project; WHEREAS, wastewater generated from the Park Place development is currently directed through the MSLS to OCSD wastewater treatment facilities; WHEREAS, property bounded by Michelson Drive, Campus Drive, Jamboree Road and Carlson Avenue in the City of Irvine (hereinafter the aAdditional Property") is also served by the MSLS; WHEREAS, IRWD owns and operates the Michelson Water Reclamation Plant (hereinafter "MWRP"), a wastewater treatment facility in the vicinity of the Park Place development project; WHEREAS, there are presently existing agreements between IRWD and OCSD allowing, under specified circumstances and conditions, IRWD to purchase from OSCO capacity in OCSD's collection treatment system and wastewater treatment plants, thereby allowing IRWD to direct wastewater flows from IRWD service area to OCSD's collection and treatment facilities for treatment and disposal; WHEREAS, agreements presently exist between OCSD and IRWD through which specified charges for service or connection are collected by IRWD and paid to OCSD; WHEREAS, OCSD accounts for property tax and other revenues and expenses according to nine different revenue areas existing within OCSD's jurisdictional boundaries. The Park Place development project and the Additional Property are located within OCSD's Revenue Area 7; 2 05/24/99 Draft wuuurs.urr =irrs.H.1..>L..L1-; "' ;:,1 1nr'-1 I .L"""T i._i_,_ I I 1....1 I 1 • --· -- DRAFT WHEREAS, a dispute has arisen between CWDLP and OCSD regarding, in part, the assignment by District No. 7 to OCSD of the December 12, 1990 agreement between CWDLP and District No. 7, which assignment CWDLP contends is invalid; WHEREAS, the parties hereto acknowledge that CWDLP desires that sewerage service for the Park Place development project be provided by IRWD, rather than OCSD; WHEREAS, as a method to resolve the dispute between OCSD and CWDLP, it is proposed that OCSD transfer service responsibility for providing sewerage service for ttile Park Place development to IRWD, and transfer specified assets from OCSD's Revenue Area 7 to OCSD's Revenue Area 14; In consideration of the promises and of the covenants, rights and obligations set forth herein, the parties hereto covenant and agree as follows: AGREEMENT 1. Wrthin sixty (60) days of the execution of this Agreement, OCSD's Board of Directors shall: a. Administratively transfer the Park Place development project and the Additional Property, which is more particularly described in Exhibit "A" attached hereto, from OCSD's Revenue Area 7 to OCSD's Revenue Area 14; b. Transfer all facilities and ownership equity currently attributable to or used by the Park Place development project and the Additional Property from Revenue Area 7 to Revenue Area 14. c. Transfer all future property tax revenue and associated Certificates of Participation service obligations related to the Park Place 3 05/24/99 Draft WUUJ.Ji-ur r -=ir i-MJ.JL... L I' "" .:JI IMI'. I DRAFT development project and the Additional Property from Revenue Area 7 to Revenue Area 14. 2. IRWD shall purchase from OCSD additional treatment plant and collection system capacity necessary to service the Park Place development project and the Additional Property in accordance with existing agreements between IRWD and OCSD. 3. OCSD intends to demolish the MSLS and may ultimately sell the property on which it is currently located. IRWD intends to build a new lift station at another location to service the Park Place development project and the Additional Property. 4. The parties acknowledge that in the future, wastewater discharged to the sewer system from the Park Place development project and the Additional Property may be routed either to IRWD's MWRP or to OCSD's wastewater treatment facilities. IRWD shall be entitled to route the flows from the Parle Place development project and the Additional Property to either OCSD's or IRWD's treatment facilities, depending upon IRWD's water reclamation needs, in accordance with existing agreements between IRWD and OCSD. 5. Upon execution of this Agreement, OCSD shall not levy any charges for service or connection directly against the owner(s) of the Park Place development project and the Additional Property. All charges for service or connection applicable to Park Place development project and the Additional Property shall be paid to OCSD by IRWD in accordance with existing agreements and in the same manner as all other properties in OCSD Revenue Area 14. 6. Except as otherwise provided herein, all notices and other communications required or permitted hereunder shall be in writing, shall be delivered in person or sent by Registered Mail or Certified Mail, return receipt ·requested, and shall 4 05/24/99 Draft WUUJ.Jr<:Urr orr<:HJ.JL..H'I °' Ol'IHI"\ I DRAFT be deemed received upon personal delivery or seventy-two (72) hours after deposit in the mail of the United States Postal Service in Orange County, California, postage prepaid and addressed as follows: To OCSD: To IRWO: Orange County Sanitation District Attention: Board Secretary P. 0. Box 8127 Fountain Valley, CA 92728-8127 Irvine Ranch Water District Attention: General Manager 15600 Sand Canyon Avenue Irvine, CA 92619-7000 IN WITNESS HEREOF, OCSD and IRWD have executed this Agreement as of this day and year first above-written. Dated: ______ _ Dated: ------- Approved as to Fom1: By: ________ _ Dated: Dated: THOMAS L. WOODRUFF GENERAL COUNSEL ------- ------- ORANGE COUNTY SANITATION DISTRICT By:. _____________ _ Chainnan, Board of Directors By: _____________ _ Secretary, Board of Directors IRVINE RANCH WATER DISTRICT By: ____________ _ President By: ·-------------- Secretary 5 05fl4199 Draft IIJUU.UKUrr Ol'""KHLJL.!l'I 0. Ol"IHK I Approved as to Form: By: _________ _ 04D21\2 BOWIE, ARNESON, KADI, WILES & GIANNONE 6 r J.'-t o_,_, I I~ I j • -'--'" •-' DRAFT 05/24/99 Draft • I ,,, FAHR COMMITTEE Meeting Date To Bd. of Di~. 06/09/99 06/23/99 AGENDA REPORT Item Number Item Number FAHR99-45 Orange County Sanitation District FROM: Gary G. Streed, Director of Finance SUBJECT: REQUEST FOR CONNECTION FEE REDUCTION GENERAL MANAGER'S RECOMMENDATION 1) Receive and file letter dated May 12, 1999 from Legacy Partners, requesting a partial refund of capital facilities capacity charge rates for three ·parcels paid in December 1998 and January 1999, and a partial refund of capital facilities capacity charge rates for two parcels to be paid prior to the effective date of District's proposed ordinance for capital facilities capacity charge rates, in the amount of $183,896.00; 2) Deny request for partial refund of capital facilities capacity charge rates for three parcels/permits paid in December 1998 and January 1999; 3) Approve request to grant fee reduction for two parcels/permits to be paid prior to the effective date of District's proposed ordinance for capital facilities capacity charge rates. SUMMARY Legacy Partners, an Orange County developer, has requested that the connection fee structure to be adopted by the Board subsequent to the RAC process, a FAHR Committee review, and an Ordinance and Proposition 218 public hearing, be applied to five of their buildings in Fullerton. Fees for three of these low-demand warehouse-type buildings were paid in December and January. Fees for the remaining two buildings are expected to be paid during the Ordinance adoption process. None of the buildings are expected to be occupied prior to July 1, 1999. Approving the General Manager's recommendation would leave the current fees in effect for the first three buildings, but would allow the proposed fees to be effective for the second two buildings. PROJECT/CONTRACT COST SUMMARY The proposed connection fee rate for warehouse-type buildings is $11 O per 1,000 square feet, a $362 reduction from existing rates. The three buildings already permitted have a total of 265,450 square feet. Granting Legacy's request for these buildings would reduce connection fees by $96,093. The two buildings about to be constructed contain a total of 242,550 square feet. Applying the proposed rate to these buildings would reduce fees by $87,803. This is the General Manager's recommendation. The total requested reduction is $183,896. H:\wp.dlalagenda\FAHR\Fah199199ar\FAHR99-15.doc Revised: 8/20/98 Page 1 BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. [8,1 This item has not been budgeted. D Not applicable (information item) ADDITIONAL INFORMATION None. ALTERNATIVES 1. Charge connection fees at the rate in effect when the building permits were/are issued. 2. Allow the reduced/proposed rates for the two buildings not currently permitted, and for the three buildings permitted in December 1998 and January 1999. CEQA FINDINGS NIA ATTACHMENTS Letter dated May 12, 1999 from Legacy Partners H:lwp.dta\agenda\FAHR\Fahr99199ar\FAHR99--45.doc Revised: 8120198 Page2 I t.t!:j VV"'--··--·-._._ .... _.,. ..... ___ ..,_ lriEHWB Mtty 12, 1999 VIA FAX 714-962-3954 & U.S. MAlL Ill• Ill• Ill • Mr. Gary Streed Dircclor of Finance Orange County Sanilcltion District P. 0. Box 8127 Fountain Valley, CA 92728-8127 Re: Fullerton Crossroads Sewer Co.nncction Fees Dear Mr. Streed: LEGACY PARTNERS Legacy Pattn11rs 30 Ezccutive Pa~ Suite 100 ,_ Irvine. CA 92.614-U41 Phone: 949. 261.21DO Legacy Partners is lhe developer of Fullerton Crosnoads, a 75 acre mdustrial busine.55 park on the sik: of the former Hunt- Wesson Cannery in. Fullerton. We are in the midst of co1a.snucting :five 11CW warehouse/light manufacturing buildings Lot.i.ling 508,000 square feet. 'rhe first three shell building pennits were paid for and pulled several months ago. The fui.11 two shell building permits will be paid for and pulled in the next fow days. As you know, the Cily colleo1s the OCSO's co!lrlcction fees at the time of building permit issuance. We underst.lnd that a proposal is or will be before your Board of Directors revising the connection fees to more fairly assess uses a.ad impacts by customers. It is proposed that the typical low demand indu~commercial user Will pay SllO per 1,000 square feet, while the present charge is $472 per 1,000 square feet, a substantial reduction. We understand that these fee revisions, it approved, IllilY become effective on July 1, l999 or 50011er. As our new building construction is speculative development and oriented toward warehouse ~. the iruuoricy of tenants will have minimal onsite water consumpti.ou and sewer discharge related only to employee restrooms. Since these fumrc tenants will take occupancy of all or these buildings after July I, 1999, we respeclfully request that 01rr conueclion fees be based on the revised fees, if approved. We are also requesting a .refund of tll.c c~1ra connection fees paid when the .first sevet31 shell building permits were paid. TI1is lener is being filed pursuam to Gov. Code: section 66020 et seq, Outlined below is the relevant information on the new buildings and the sewer conncclion fees: Building "A" at 620 N. Gilbert Street Building "B" at 580 N. Gilben Strct:t Building "C" at 610 N. Gilben Street Subtotal Building "E'' a1 590 N. Gilbert Succ:L Building "F'' at 540 N. Gilben Street Subtotal Grand Tolal 93,400 square feet 75,090 square feet 96.960 sguare fuet 265,450 squan; feet 94.600 square feet 147.950 square feel 242,550 ~ feet 508,000 square feel x .472 = $44,084.80 Pait\ Dec. 1998 K .472 = $35,442.48 Pl!-id Dec. 1991! x .472 = $45,765.12 Paid Jan. l999 x .472 = $44,651.20 To be paid x .. 472 .: $69,832.40 To be paid $239_,776.00 Therefore, if and when the fee revisions are awroved and become effective, we respectfully request a refund tota1i:ng- to $ l 83,896 .00 which represents the difference between the existing and proposed connection foe rate, times lhe total square footage. This information can be verified with the City of Fullerton Building Depa:runcnt. Please call me at 949- 161-9871 Ext 130 if you need any additional infonuation or clarification. Sincerely, LEGACY PARTNERS ~r;::::__PC0,U£ Michael Moms Acquisitions/Develop1nent Manager l':\My Oocmna1t9\Fullerton ~ada\OCSO Cccs reimbui:acmcm.,Jo. FAHR COMMITTEE Meeting Date To Bd. of Dir. 06/09/99 06/23/99 AGENDA REPORT Item Number Item Number FAHR99-44 Orange County Sanitation D1stnct FROM: Gary G. Streed, Director of Finance SUBJECT: 1999-00 SEWER SERVICE USER FEES GENERAL MANAGER'S RECOMMENDATION Adopt Resolution No. OCSD99-XX, Establishing Sewer Service User Fees for 1999-2000. SUMMARY In 1996 the Board adopted a five-year schedule of annual sewer service user fees, effective from 1997-98 through 2001-02. In 1998, after the Rate Advisory Committee process, the Board adopted a revised user fee rate structure. As a result of this structure change, which better correlated non- residential fees with use, the base rates implemented for 1998-99 in five of the service areas were lower than those originally adopted. Reducing the base single-family residential rate reduces all other rates because they are adopted as a percentage of the base rate. It is possible, once again, to adopt fees in those five areas that are somewhat below those originally authorized. This is possible because of the structure change, increased property tax allocations, reduced operating budgets, and a revised borrowing plan. The proposed 1999-2000 budget has been prepared using these lower fees. The proposed rates and the already adopted rates are shown in the following table: Single Family Residential Rates Revenue 1998-99 1999-00 1999-00 Area Current Rate Adopted Rate Proposed Rate 1 $96.41 $110.04 $108.59 2 74.00 77.00 76.00 3 75.50 77.00 76.00 5 84.50 96.75 87.50 6 79.00 82.00 80.00 7 60.00 66.00 66.00 11 80.00 90.00 90.00 13 100.00 100.00 100.00 14 All Revenue Area 14 Costs are Paid Directly by IRWD \\radonldata1'twp.dta\agendalFAHRIFahr99199arlFAHR99-44.doc Revised: 8/20/98 Page 1 Multi.-Family Residential Rates Revenue 1998-99 1999-00 Area Current Rate Adopted Rate 1 $67.49 $77.03 2 51.80 53.90 3 52.85 53.90 5 59.15 67.73 6 55.30 57.40 7 42.00 46.20 11 56.00 63.00 13 70.00 70.00 PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT ~ This item has been budgeted. (Line item: ) 1999-00 Proposed Rate 76.00 53.20 53.20 61.20 56.00 46.20 63.00 70.00 D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. D Not applicable (information item) ADDITIONAL INFORMATION The Steering Committee has directed staff to evaluate, and report to them, the impacts and ramification of adopting a single base sewer service user fee for the entire OCSD service area. This evaluation and the identification and evaluation of alternatives is a work plan item for the first quarter of 1999-2000. ALTERNATIVES Implement higher rates adopted prior to structure change. CEQA FINDINGS N/A ATTACHMENTS None \lradonldata1'1wp.dtalagenda\FAHR\Fahr99199ar\FAHR99-4-4.doc ReviMd: 8/20/98 Page2 1 FAHR COMMITTEE Meeting Date To Bd. of Dir. 06/09/99 06/23/99 " l AGENDA REPORT Item Number Item Number FAHR99-46 Orange County Sanitation District FROM: SUBJECT: Donald F. McIntyre, General Manager Originator: Delegation of Authority Committee (Marc Dubois, Contracts/Purchasing Manager, Doug Stewart, Engineering Manager, Ed Torres, Air Quality Control Manager, Michael D. White, Controller) PURCHASING RESOLUTION AND DELEGATION OF AUTHORITY (DOA) GENERAL MANAGER'S RECOMMENDATION Adopt Resolution No. OCSD 99-XX, Establishing Policies and Procedures For The Award of Purchase Orders and Contracts; Award of Public Works Project Contracts; Award of Professional Services Contracts; and Delegation of Authority to Implement Said Policies and Procedures; and Repeal Resolution Nos. OCSD 98-8, OCSD 98-12, OCSD 98-22, and OCSD 98-43. This item was referred to FAHR by the Steering Committee in May. SUMMARY In July 1998, the Board of Directors adopted Resolution Nos. OCSD 98-8, OCSD 98-12, OCSD 98-22, and OCSD 98-43 establishing policies and procedures for the award of purchase orders and contracts, award of public works contracts, award of professional services agreements, and delegation of authority to implement said policies and procedures. Proposed Resolution OCSD 99-XX is to consolidate these previously approved Resolutions into one compact resolution and Repeal Resolutions OCSD 98-8, OCSD 98-12, OCSD 98-22, and OCSD 98-43. A committee comprised of division managers was formed to review and recommend changes to existing policies and procedures related to delegation of authority. The work of this committee resulted in the passage of several independent Board Resolutions in FY 1997-98 related to delegated authority from the Board. The directives in these resolutions ranged from contracts and purchasing to construction contract change orders. In conjunction with the consolidation of the Districts in July 1998, General Counsel recommended adoption of Resolutions OCSD 98-8, OCSD 98-12, OCSD 98-22, and OCSD 98-43 to replace these earlier Resolutions. General Counsel and the Delegation of Authority Committee (DOA Committee) have since been asked to revisit these resolutions and consolidate them into one compact resolution related to the entire spectrum of delegated authority from the Board to Board Committees and staff. The DOA Committee and General Counsel have collaborated and are requesting approval of the attached resolution. Staff has reviewed the four resolutions to be combined, suggested changes to remove inconsistencies created in the merging of the documents, and suggested changes in the levels of delegated authority to gain consistency across \lradon\data1wp.dtalagenda\FAHR\Fahr99199ar\FAHR99--16,dot Revised: 8120/98 Page 1 the organization. The details are discussed in the Additional Information section of this Agenda Report. PROJECT/CONTRACT COST SUMMARY Not Applicable. BUDGET IMPACT D This item has been budgeted. (Line item: } D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. ~ Not applicable (information item) ADDITIONAL INFORMATION Resolution OCSD 98-8 deals primarily with the award of professional service agreements, the selection of consultants, and the ratification of construction contract change orders. The DOA committee compared the delegated approval levels for professional service agreements and construction contract change orders with the delegated approval levels for all other service type contracts and found a disparity across the organization. Under the Delegation of Authority Resolution, OCSD 98-12, the General Manager is delegated up to $100,000 of authority for approval of service contracts and purchase orders. Under Resolution OCSD 98-8, however, the General Manager is delegated up to $50,000 for approval of professional service agreements and construction contract change orders. Staff is requesting a change in the delegated authority to achieve consistency with the General Manager's authority and to provide flexibility across the organization. The increase in the General Manager's authority and the additional flexibility provided to staff will save the District time in getting projects approved, lessen the workload submitted to the Board and Committees, and provide more time for the Directors to focus on the "bigger picture" projects. T~ble 1 on the following page shows a summary of the existing levels of delegated authority and the requested new levels. \lradon\data1'wp.dlalagenda\FAHR\Fahr99\99ar\FAHR99--46,dot ReYised: 8/20/98 Page2 Table 1 Summary of Changes to Financial Approval Levels Delegated Area Current Delegation General Manager Up to $25,000 per authority for PSA's and original agreement addenda and up to $25,000 additional per each addendum, NTE $50,000 total for all addenda Director of Engineering Up to $50,000 per authority for small each task order, no project task orders and authority for addenda addenda General Manager Up to $25,000 per authority for Public original contract and Works Contract and up to $50,000 Change Orders (additions only) per each additional change order. In no case may change order total exceed 5%, or $100,000, whichever is less, of total contract Board Committee's Up to $50,000 per authority for PSA's and original agreement Addenda and up $50,000 per each addenda, NTE $100,000 total additional Board Committee's Up to $50,000 per authority for Public original contract and Works Contract and Up to $100,000 Change Orders (additions only) per each additional change order. In no case may change order total exceed 10% or $200,000, whichever is less, of total contract Board Over $50,000 on original and over $200,000, or 10%, whichever is less, on chanoe orders \\radon\data1\wp.dtalagendalFAHRIFahr99199ar\FAHR99-46.dot Revised: 8/20/98 Proposed Justification Delegation Up to $100,000 total Maintain consistency with for PSA , including GM's authority for services, all addenda equipment and materials Up to $50,000 per Maintain consistency with each task order and GM's authority for services, up to $50,000 each equipment and materials addendum with a total not to exceed $100,000, including all addenda Up to $100,000 for Maintain consistency with total of original GM's authority for services, contract and all equipment and materials change orders (additions only). In no case may change order total exceed 5% or $100,000, which- ever is less, of total contract Up to $200,000 total Consistency with Board for PSA, including Committee's current delegated all addenda authority of 2x the GM's authority Up to $200,000 for Consistency with Board total of original Committee's current delegated contract and all authority of 2x the GM's change authority orders(additions only). In no case may change order total exceed 10% or $200,000, whichever is less, of total contract Over $200,000 on Time savings due to the original and over reduction in the volume of $200,000, or 10%, small projects that would have whichever is less, to be reviewed by the Board on chanoe orders Page 3 PSA, or Professional Service Agreement, as used in Table 1 on the preceding page, and in Table 2 below, is limited to firms providing engineering, architecture, environmental, land surveying, construction management services and related services. Table 2 provides for three additional changes that are being requested by staff. Table2 Changes to Policy and Administrative Issues Description Change Justification Professional Services Allow General Manager to Reduces administrative Agreements for small extend agreement period burden on Engineering and capital projects for two additional years Purchasing Departments to solicit interest from firms and establish contracts Travel associated with Include Mexico along with Likely incidence of travel to meetings and training Canada (already approved Mexico by Board) as Board- approved destination for out-of-countrv travel. Delegated authorities within Allow General Manager and Varying levels of authority Departments Department Heads for purchasing required by authority to establish individual departments purchasing authority within organizational structure Staff has had one year of experience with the small capital projects consultant contracts. Eighteen task orders were issued under this program, saving an average of 2.5 months on each task order, compared with obtaining Board approval of a separate contract for each project. This delegated authority has been key in alleviating a backlog of projects that had built up over several years. At the end of the contract period, each of the consultants was asked if they would extend this year's rates for an additional year. All agreed to extend the contract terms for an additional year. Eliminating an entire RFP and consultant selection process on an annual basis would save staff about 350 hours per year, or 0.17 full time equivalent staffing effort, and allow the District to lock in favorable consulting rates for a two year period. In order to be effective, purchasing authority must be delegated into the organization. Prior attempts to delineate this authority were accomplished by the use of position classifications, i.e. Foreman. However, the various Departments and Divisions are organized and structured differently, and these classification delegations were not practical throughout the entire agency. Allowing each Department Head the ability to establish separate authority levels for purchases under $10,000 will provide the organization with the ability to manage more efficiently and effectively in the future. ALTERNATIVES Maintain the existing delegation of authority levels and separate purchasing resolutions. \lradonldata1w,p.dta\agenda\FAHR\Fahr99199ar\FAHR99-46.dot Revised: 8/20/98 Page4 CEQA FINDINGS Not Applicable. ATTACHMENTS Resolution No. OCSD 99-XX. \lradon\data11wp.dta\agendalFAHRIFahr99\99ar\FAHR99-46.dot Revised: 8l2Cll98 Pages ARTICLE I: ARTICLE II: ARTICLE Ill: RESOLUTION NO. OCSD 99-_ A RESOLUTION OF THE BOARD OF DIRECTORS OF ORANGE COUNTY SANITATION DISTRICT ESTABLISHING POLICIES AND PROCEDURES FOR THE AWARD OF PURCHASING ORDERS AND CONTRACTS; AWARD OF PUBLIC WORKS PROJECT CONTRACTS; AWARD OF PROFESSIONAL SERVICES CONTRACTS; AND DELEGATION OF AUTHORITY TO IMPLEMENT SAID POLICIES AND PROCEDURES; AND REPEALING RESOLUTIONS NOS. OCSD 98-8, OCSD 98-12, OCSD 98- 22, AND OCSD 98-43 TABLE OF CONTENTS RECITAL OF FINDINGS Section 1.01 Findings -Declaration of Intent. DELEGATION OF AUTHORITY Section 2.01 Purpose and Scope. Section 2.02 Authorizing General Manager to Establish Rules and Guidelines. Section 2.03 Procedure for Delegation of Authority. PURCHASING SYSTEMS RE SUPPLIES, EQUIPMENT AND SERVICES Section 3.01 Purpose and Scope. Section 3.02 Purchasing System Adoption. Section 3.03 Purchasing Division Delegated Authority. Section 3.04 Requisitions. Section 3.05 Cooperative Procurement. Section 3.06 Purchases: Bidding Requirements. Section 3.07 Purchases: Emergency. TLW Draft No. 12:05/19/99:#103185 1 ARTICLE IV: Section 3.08 Purchases: Standardized Prices and Specialized Services. Section 3.09 Purchase Orders. Section 3.10 Purchases: Encumbrances of Funds. Section 3.11 Blanket Purchase Orders. Section 3.12 Bidding Procedure: Purchases Greater Than $50,000.00. Section 3.13 Purchases Between $50,000.00 and $100,000.00. Section 3.14 Bidding Procedure: Purchases Less Than $50,000.00. Section 3.15 Bidding Procedure: Purchases Less Than $5,000.00. Section 3.16 Inspection and Testing. Section 3.17 Purchases: Negotiated Contracts. Section 3.18 Surplus Supplies, Materials, and Equipment. Section 3.19 Sale of Real Property. Section 3.20 Recordkeeping. PROFESSIONAL SERVICES CONTRACTS Section 4.01 Purpose and Scope. Section 4.02 Retention of Professional Technical Consultants. Section 4.03 Small Capital Project-Defined. Section 4.04 Small Capital Project: Approval of Plans and Specifications. Section 4.05 Small Capital Project: Annual Budget Approval. TLW Draft No. 12:05/19/99:#103185 2 ARTICLEV: ARTICLE VI: ARTICLE VII: Section 4.06 Small Capital Project: Selection of Consultants - Procedure. Section 4.07 Major Capital Project: Defined. Section 4.08 Major Capital Project: Scope of Work. Section 4.09 Major Capital Project: Selection of Consultants - Procedure. Section 4.1 O Major Capital Project: Award of Professional Services Agreements. Section 4.11 Major Capital Project: Approval of Plans and Specifications. PUBLIC WORKS CONTRACTS Section 5.01 Purpose and Scope. Section 5.02 Public Works: Bidding Required. Section 5.03 Bidding Procedure: Public Works Construction Greater Than $35,000.00. Section 5.04 Approval of Change Orders to Construction Agreements. MEETINGS {AND RELATED TRAVEL) AND TRAINING (AND RELATED TRAVEL} EXPENDITURES Section 6.01 Purpose and Scope. Section 6.02 General. Section 6.03 Policies and Procedures. MISCELLANEOUS Section 7.01 Noncompliance. Section 7.02 Severability. Section 7.03 Effective Date. Section 7.04 Repeal of Prior Resolutions. TLW Draft No. 12:05/19/99:#103185 3 Section 1.01: ARTICLE I RECITAL OF FINDINGS Findings -Declaration of Intent. A. California Government Code Section 54202 requires that every local agency shall adopt policies and procedures, including bidding regulations, governing purchases of supplies, services, and equipment, and that purchases of supplies, services, and equipment by the local agency shall be in accordance with said duly adopted policies. B. California Government Code Section 54204 requires that if the local agency is other than a city, county, or city and county, policies provided for in Section 54202 of said Code shall be adopted by means of a written rule or regulation, copies of which shall be available for public distribution. C. In order to establish efficient procedures for the purchase of supplies, services, and equipment, and the letting of public works contracts at the best possible cost commensurate with quality and delivery needs, together with other relevant factors, to exercise positive financial control over purchases, to clearly define authority for the purchasing function, and to establish bidding procedures, a purchasing system for the District, beyond what is required by said Sections of the Government Code, is desirable and in the best public interest. D. An effective, comprehensive organization needs an administrative structure with support procedures that are logical, efficient, well-documented, are understood by the organization's employees and members of the public, and that enable timely and responsive administrative acquisition of materials, supplies, and services. The organization should also appropriately delegate authority to those persons and units having responsibility for these activities. E. The Board of Directors has determined that a delegation of authority structure provides for better training of employees which will result in improved efficiency and effectiveness of the District's operations. ARTICLE II DELEGATION OF AUTHORITY Section 2.01: Purpose and Scope. In an effort to remove barriers that prevent District employees from performing their jobs at the highest level of efficiency, a delegation of authority structure will appropriately train the employees, and by providing increased responsibility and ownership, will contribute to the improved TLW Draft No. 12:05/19/99:#103185 4 efficiency and effectiveness of the District. Section 2.02: Authorizing General Manager to Establish Rules and Guidelines. The General Manager of the District is hereby authorized to establish rules and guidelines to implement Board policies and to delegate to Staff signature authority to initiate and execute contracts or purchase orders to acquire services, including professional services, supplies, and materials, and public works project contracts, all as more particularly specified in Articles Ill through VI. Section 2.03: Procedure for Delegation of Authority. The following provisions establish delegated signature authority for contracts and purchase orders for the acquisition of supplies, services, materials, equipment, and professional services. The delegated authority for each functional management level will be established one level higher in the absence of specifically identified authority. The General Manager's authority is delegated to the Assistant General Manager ("AGM") in the General Manager's absence. These procedures establish the framework and boundaries within which a delegatee can operate, and also provide Management with a mechanism to evaluate implementation and hold the delegatee accountable for his/her actions. Upon delegation of authority by the General Manager, each Department shall be authorized to further delegate to respective employees within the Department. The delegation shall be effective upon the Department Head setting forth, in writing, the name of the delegated employee, his/her job position, and specific level of delegated authority designated as Level A, B, or C, respectively, and filing it with the Contracts/Purchasing Manager. The General Manager shall establish procedures to implement further delegated authority into the organization. For contracts and purchase orders for the acquisition of supplies, materials, equipment, and services (excluding public works contracts governed by State law and professional services agreements), the following signature authority is hereby established. The functional authority level listed describes the highest level of signature approval needed. Intermediate management approval between the initiator/requester and listed approval level must also be obtained. A. Approval Levels All items above $100,000.00 are to be approved by the Board prior to purchase, with the exception of emergency items, pursuant to Section 3.13. All items between $50,000.00 and $100,000.00 are reviewed and approved by the General Manager prior to purchase, and reported to the Board of Directors on a quarterly basis. All items below $50,000.00 are approved pursuant to the following delegation of authority: TLW Draft No. 12:05/19/99:#103185 5 B. 1. Items exceeding $100,000 require Board of Directors approval, unless previously authorized by the Board for items identified in the annual District budget. 2. Items $50,000 to $99,999 require General Manager or Assistant General Manager approval. 3. Items $25,000 to $49,999 require Department Director approval. 4. Items $10,000 to $24,999 require Division Manager approval. 5. Items $5,000 to $9,999 require Level A approval. 6. Items $2,000 to $4,999 require Level B approval. 7. Items less than $2,000 require Level C approval. Co-Signatures. In addition to the signature of the Delegated Authority: 1. To ensure that all policies and procedures governing purchase orders and contracts are followed, all contracts or purchase orders will be signed by the Contracts/Purchasing Manager, or his designee. 2. All purchases for computer hardware, software, and communication equipment will be pre-approved by the Information Technology Director, or his designee. C. Procedural Requirements. All policies and procedures adopted by the Board of Directors or promulgated by the General Manager governing the procurement of services, equipment, or supplies will apply, and shall be complied with. Budgeted funds must be available prior to the acquisition of goods or services. Upon the identification of goods or services needed that are not originally budgeted, either a budget transfer request form must be completed demonstrating that adequate funds are available to cover the acquisition, or the Board of Directors must authorize a budget amendment, at which time, the item being acquired would fall into the budgeted category. TLW Draft No. 12:05/19/99:#103185 6 ARTICLE Ill PURCHASING SYSTEM RE SUPPLIES, SERVICES, EQUIPMENT, AND MATERIALS Section 3.01: Purpose and Scope. In order to establish efficient procedures for the purchase of supplies, services, materials and equipment, and the letting of public works contracts at the best possible cost commensurate with quality and delivery needs and other relevant factors; to exercise positive financial control over purchases; to clearly define authority for the purchasing function; to establish bidding procedures, pursuant to Section 54202 of the Government Code of the State of California, a purchasing system is deemed necessary. Section 3.02: Purchasing System Adoption. The procedures and authority set forth in this Resolution are intended to operate in concert with and supplemental to the delegation of authority granted by the governing Board of Directors in the adoption of this Resolution. Full compliance with the provisions of all Articles in this Resolution is required. Section 3.03: Purchasing Division Delegated Authority. There is hereby vested in the Purchasing Division (hereinafter referred to as "Purchasing"), under the general supervision and direction of the Director of Finance, the authority for the purchase of supplies, services, materials, and equipment, letting of public works contracts and establishment of rules, procedures and administrative policies relative thereto. The Director of Finance may delegate or assign any or all of the following duties to the Contracts/Purchasing Manager: A To purchase or contract for supplies, services, materials, and equipment required by any Department or Division, in accordance with purchasing procedures prescribed by this Resolution; such administrative regulations as Purchasing shall adopt for the internal management and operation of Purchasing; and such other rules and regulations as shall be adopted by the Board of Directors. 8. To negotiate and recommend execution of contracts for the purchase of supplies, services, materials, and equipment; for construction of public works projects; and for the disposition of surplus property and by-products of the sewage treatment process. C. To submit to General Counsel for review or approval, as necessary, all contracts, purchase orders, and other related documents, the original executed copies of which shall be delivered to the Board Secretary for custodianship. TLW Draft No. 12:05/19/99:#103185 7 D. To prepare for the District, the needed standards and specifications of quality in supplies, services, materials, equipment, and construction at the best cost and under the most favorable conditions, with due consideration to delivery and other relevant factors. E. To discourage uniform bidding and endeavor to obtain as full and open competition as possible on all purchases and sales. F. To prepare rules, regulations, procedures, and administrative policies, and revisions thereto, governing the purchase of supplies, services, materials, and equipment; for the letting of public works construction contracts in accordance with the provisions of state law; and disposition of surplus property and by-products. G. To prepare rules, regulations, procedures, and administrative policies, and revisions thereto, governing the warehousing of inventories. H. To keep informed of current developments in the field of purchasing, including but not limited to prices, market conditions and new products. I. To prescribe and maintain such forms as reasonably necessary to the implementation of this Resolution and other rules and regulations of the District. J. To develop specifications to establish minimum standards for all purchases. K. To supervise the inspection of all supplies, services, materials, and equipment purchases to insure conformance with specifications. L. To provide for transfer of surplus or unused supplies and equipment between Departments, as needed. M. To have custodianship and control of all inventories and surplus property. N. To maintain a bidders' list, vendors' catalog file, and records needed for efficient operation of the Purchasing Division. 0. To review, approve, and maintain active insurance documents for all District procurements. P. To undertake such other and future duties as, in the Director's discretion, are incidental and necessary to the conduct of the Division. TLW Draft No. 12:05/19/99:#103185 8 Q. To revise all records to reflect the sale, transfer, or reorganization of a supplier's business, or a change in the supplier's name for doing business, so long as all other terms and conditions of the original agreement remain the same. In such event of an assignment of the purchase order or contract by the supplier, the District shall not be bound until it has given its consent in writing, which consent shall not be unreasonably withheld. An amendment to the original agreement shall be prepared authorizing and consenting to the assignment and shall be executed by the General Manager, or his designee, on the District's behalf. Section 3.04: Requisitions. All employees of the District who need or require supplies, services, materials, or equipment to carry out the defined duties of their positions, shall submit requisitions for purchases or warehouse requisitions to Purchasing, in accordance with the adopted rules, regulations, procedures, and policies of the Purchasing Division. Usage of the District's procurement cards shall be exempt from this requirement. Section 3. 05: Cooperative Procurement. A The District, through Purchasing, may participate in or sponsor, conduct and/or administer a Cooperative Procurement Agreement for the acquisition of procured items or services with any other public agency purchasing unit, in accordance with an agreement between the District and the other public agency. B. The District, through Purchasing, may sell to, acquire from, or use any property belonging to another public agency, including the cooperative use of supplies or services. C. Participation in the County of Orange Cooperative Purchasing Program has been expressly authorized by adoption of Board of Directors Resolution No. OCSD 98-22. Section 3.06: Purchases: Bidding Requirements. Except as hereinafter provided, purchasing of supplies, services, materials, or equipment shall be by bid procedures as set forth in this Article Ill, when the purchase is estimated to have a value greater than Five Thousand ($5,000.00) Dollars; the commodities or services may be obtained from more than one vendor; or are not standardized as to price; and no emergency exists. Section 3.07: Purchases: Emergency. Whenever an emergency arises which is, or may be a threat to the continued required operations of the wastewater treatment plants and facilities owned by the Districts, or when purchases are immediately necessary for the preservation of life or property, or to avoid a threat to the public health or safety, the Division may purchase supplies, services, materials, or equipment required for immediate use, in an amount greater than One Hundred TLW Draft No. 12:05/19/99:#103185 9 Thousand $100,000.00) Dollars without observing the procedures set forth in this Resolution. The General Manager or his designee shall advise the District Chair and/or Vice Chair, as appropriate, of the action taken, and such action shall be ratified by the Board of Directors at its next regular meeting. Section 3.08: Purchases: Standardized Prices and Specialized Services. In the purchases of supplies, services, materials, or equipment in which the items to be purchased have a demonstrated uniformity in price, or it is determined that there is a sole source, or the provider of services is determined to be uniquely qualified to perform specialized services, Purchasing may make such purchases without observing the bidding procedures of Section 3.12 below. Section 3.09: Purchase Orders. Purchases of all supplies, services, materials, or equipment shall be made by purchase order and may also require a formal written contract, when determined necessary or appropriate by the Contracts/Purchasing Manager. To ensure that all policies and procedures governing purchase orders and contracts are followed, all contracts or purchase orders will be executed by the Contracts/Purchasing Manager, or as delegated by the Contracts/Purchasing Manager. Purchasing and employees requisitioning supplies and equipment shall be responsible that purchase orders and requisitions are in conformity with the spirit and intent of this Resolution and that no purchase has been broken into smaller units to evade any requirement of this Resolution. Purchasing shall retain, in its files, one copy of all purchase orders issued during two (2) years preceding, on which copy of the purchase order, there shall be a list of bidders and prices bid for the materials or equipment purchased, or if no bids or quotations were taken or received, a full statement as to the reason therefor. Section 3.1 O: Purchases: Encumbrances of Funds. Except in cases of emergency, no purchase order shall be issued for any supplies, services, materials, or equipment, unless there exists an unencumbered appropriation balance in the fund against which said purchase is to be charged. Section 3.11: Blanket Purchase Orders. The Purchasing Division may issue annual blanket purchase orders for recurring purchases of miscellaneous supplies that: A. Because of economic considerations, the items are not carried in stock in the District's warehouse; B. Are stock items that have been designated as appropriate sole source acquisitions; C. Purchasing determines it is in the best interests of the District to competitively bid a blanket order for inventory items; or TLW Draft No. 12:05/19/99:#103185 10 • D. Are for miscellaneous supplies, services, materials and equipment where such purchase of supplies, services, materials, and equipment may be procured from a single vendor during the budget year, without observing the procedures prescribed in Section 3.12 below, when, in its discretion, it is determined that such blanket purchase orders are at a cost favorable to the District and will result in more efficient procurement of such items. Blanket purchase orders shall be in conformity with the spirit and intent of this Resolution. The Purchasing Division shall, at the beginning of each budget year, file a list of such purchase orders and the estimated annual amount with the Director of Finance. Section 3.12: Bidding Procedure: Purchases Greater Than $50,000.00. A. Award to Lowest Bidder. Except as otherwise provided in this Article Ill, purchases of supplies, services, materials, and equipment of estimated value greater than Fifty Thousand ($50,000.00) Dollars shall be by written contract or purchase order with the lowest responsive and responsible bidder (unless a Request for Proposal ("RFP") solicitation instrument is utilized), pursuant to the procedures prescribed herein. B. Award Approval. Purchases of supplies, services, materials, and equipment that have appropriate budgetary approvals shall be bid and awarded directly by the Contracts/Purchasing Manager, or as delegated by the Contracts/Purchasing Manager. Supplies, services, materials, and equipment that exceed the budgeted amount, or effect policy recommendations or ratifications, or are sole source contracts exceeding $100,000.00, and all public works contracts, shall require Board of Directors' approval prior to issuance or award of a purchase order or contract. C. Notice Inviti ng Bids. The notice inviting bids shall include a general description of the articles or services to be purchased or sold, shall state where bid forms and specifications may be secured, and the time and place for opening bids. 1. Published Notice. The notice inviting bids shall set a date for the opening of bids. The notice shall be published one (1) time at least ten (10) days before the date for the opening of the bids. Notice shall be published in a newspaper of general circulation, printed and published within the District's jurisdiction, or by electronic bulletin board procedures designed to reach the industry or market of supply . 2. Bidders List. Purchasing may also solicit sealed bids, or receive bids electronically, from all qualified, responsible prospective suppliers whose names are on the Bidders List maintained by the District, or who have requested their names to be added thereto. TLW Draft No. 12:05/19/99:#103185 11 3. Bulletin Boards. Purchasing may also advertise pending purchases or sales by a notice posted on a public bulletin board in the Purchasing Division Office, and by electronic bulletin board, as deemed appropriate by the Contracts/Purchasing Manager. D. Bidder's Security. When deemed necessary by Purchasing, bidder's security may be prescribed in the contract specifications or in the public notice inviting bids. Bidders shall be entitled to the return of bid security upon the full execution of an awarded contract or issuance of a purchase order, by the successful bidder. A successful bidder shall forfeit his bid security upon refusal or failure to execute the contract within the prescribed time after the notice of award of contract has been delivered to bidder, unless the District is responsible for a delay in the prescribed time. The Board of Directors may, on refusal or failure of the successful bidder to execute the contract, award it to the next lowest responsive, responsible bidder. If the Board of Directors awards the contract to the next lowest bidder, an amount of the lowest bidder's security equal to the difference between the low bid and the awarded bid, shall be forfeited to the District, and the surplus, if any, shall be returned to the lowest bidder. E. aid Opening Procedure. Sealed or electronically received bids shall be submitted to the Contracts/Purchasing Manager and/or Secretary of the Board of Directors, and shall be identified as a bid on the envelope or the electronic bulletin board. Bids shall be opened in public by the Contracts/Purchasing Manager, or his designated representative, at the time and place stated in the public notices. A tabulation of all bids received shall be open for public inspection during regular business hours for a period of not less than thirty (30) calendar days after the bid opening. In cases wherein the Request for Proposal ("RFP") instrument is utilized, all RFP's will be opened, and only the name of the Proposer shall be read aloud at the time and place set forth herein. F. Rejection of Bids. In its discretion, the Board of Directors may reject any and all bids presented and readvertise for bids. If all bids are rejected, the Board of Directors, by majority vote, may declare that the materials or supplies may be acquired at a lower cost by negotiation in the open market and authorize the purchase in that manner. G. Tie Bids. If two or more bids received are for the same total amount or unit price, (with quality and service being equal), and if the public interest will not be best served by a delay of readvertising for bids, the Board of Directors may accept the one it chooses or accept the lowest bid made by negotiation with the tie bidders at the time of the award. TLW Draft No. 12:05/19/99:#103185 12 H. Performance Bonds. Purchasing shall have authority to require a faithful performance bond, a labor and materials bond and/or a warranty bond, before entering into a contract in an amount as it shall find reasonably necessary to protect the best interests of the District. If the Purchasing Division requires any of these bonds, the form and amount of the bond shall be described in the notice inviting bids and in the contract specifications. Section 3.13: Purchases between $50,000.00 and $100.000.00. Notwithstanding the provisions of Subsections 3.12(A) through 3.12(H) above, Purchasing may award a contract to purchase supplies, services, materials, or equipment in an amount greater than Fifty Thousand ($50,000.00) and less than One Hundred Thousand ($100,000.00) Dollars, without obtaining bids and following the procedures set forth above when the Contracts/Purchasing Manager determines that: A By purchasing immediately, it can avoid an imminent price increase or realize a substantial price discount that is available on a short term basis only; or B. It can obtain supply, services, materials, or equipment immediately that might not otherwise be available at such time as purchasing procedures could be completed; or C. Said contract for supplies, services, materials, or equipment has Board of Directors' approval for multiple one (1) year renewal periods. All such contract renewals shall require the Contracts Administrator/Purchasing Manager approval; or D. The supplies, services, materials, or equipment are only available from a sole source. E. Whenever an emergency arises which is, or may cause a threat to the continued required operations of the treatment plants, or when purchases are immediately necessary for preservation of life or property, or to avoid a threat to the public health or safety. All purchases between $50,000.00 and $100,000.00 shall be reviewed and pre- approved by the General Manager and reported to the Board of Directors on a quarterly basis. Section 3.14: Bidding Procedure: Purchases Less Than $50,000.00. Purchases of supplies, services, materials, or equipment, of an estimated value in the amount of Fifty Thousand ($50,000.00) Dollars or less on which bidding is not required by state law, may be made by Purchasing in the open market without observing the same procedures as prescribed by Section 3.12 above. The procedures to be used for these purchases are as follows: TLW Draft No. 12:05/19/99:#103185 13 A. Minimum Number of Bids. Open market purchase shall, whenever possible, be based on at least three (3) bids and shall be awarded to the lowest responsive and responsible bidder, and shall be by written contract or purchase order. 8. Solicitation of Bids. Bids shall be solicited by written requests to prospective vendors or purchasers and/or by telephone, facsimile transmission, electronic bulletin board, and/or by public notice posted on a public bulletin board in the Purchasing Division Offices. C. Receipt of Bids. Bids shall be submitted to Purchasing, which shall keep a public record of all open market orders and bids for a period of two (2) years after the submission of bids or the placing of orders. D. Exceptions. Purchasing may purchase supplies, services, materials, or equipment without observing the procedures prescribed in Subparagraphs A, B, and C above, if supplies, services, materials, or equipment are only available from a sole source. All such purchases shall be approved by the Director of Finance, the requesting Department Head, and the Contracts/ Purchasing Manager. Section 3.15. Bidding Procedure: Purchases Less Than $5,000.00. Purchasing may purchase supplies, services, materials, or equipment of a value in the amount of Five Thousand ($5,000.00) Dollars or less per purchase order, without observing the procedures prescribed in this Section when, in the Contracts/Purchasing Manager's discretion, it is determined that observing such procedures would not result in a lower overall cost to the District. Record of such decision shall be fully stated in the purchase order file as to the reason therefor. Section 3.16: Inspection and Testing. The supplies, services, materials, and equipment delivered, and contractual services performed, shall be inspected to determine their conformance with the specifications set forth in the purchase order or contract. Purchasing shall have authority to request professional services, or to require chemical and physical tests of samples submitted with bids and samples of deliveries which are necessary to determine their quality and conformance with specifications. Section 3.17: Purchases: Negotiated Contracts. Notwithstanding other provisions of this Resolution, the Board of Directors may, when it appears in the best interests of the District, authorize the Staff to negotiate and award a contract for purchase of supplies, services, materials and equipment without observing the procedures prescribed in Sections 3.12 and 3.14 above. TLW Draft No. 12:05/19/99:#103185 14 A When such authorization has been granted for purchase of supplies, services, materials, and equipment of an estimated value in the amount of One Hundred Thousand ($100,000.00) Dollars or greater, the Staff shall obtain the concurrence of the District Chair and/or Vice Chair, as appropriate, prior to awarding such purchase. B. Whenever any contract for supplies, services, materials, or equipment has been entered into between the District and a person or entity providing such supplies, services, materials, or equipment, and Purchasing determines that it is in the best interest of the District to continue said contract with such person or entity, Purchasing may, in its discretion, negotiate an extension of such contract without observing the bidding procedures prescribed in Sections 3.12 and 3. 14 above; provided, the contract contains provisions for subsequent extension periods; has been approved and awarded by the Board of Directors; and/or has prior budget approval, as provided in Section 3.12. C. This Section shall not apply to the letting of public works construction contracts in excess of Thirty-Five Thousand ($35,000.00) Dollars. Said contracts shall be governed by the provisions set forth in Article V of this Resolution. Section 3.18: Surplus Supplies, Materials. and Equipment. All Departments and/or Divisions shall submit to Purchasing, at such times and in such form as Purchasing shall prescribe, reports showing all supplies, materials, and/or equipment which are no longer used or which have become obsolete or worn out. Purchasing shall have authority, as deemed appropriate by the Contracts/Purchasing Manager, to sell, exchange for, or trade in on new supplies, materials, and equipment, or dispose or, as deemed appropriate, all supplies, materials, and equipment which cannot be used by any other Department or Division, or which have become unsuitable for District's use. Section 3.19: Sale of Real Property. No real property of the District may be sold, or any negotiations leading to such sale may be made, without prior approval of the Board of Directors. Section 3.20: Recordkeeping: A record of all sales or surplus property and by-products shall also be maintained by Purchasing upon or in which is maintained the record of the bids received for the property or by-products sold, or if bids were not taken or received, a full explanation thereof. Such records shall be maintained for two (2) years after the sale. TLW Draft No. 12:05/19/99:#103185 15 ARTICLE IV PROFESSIONAL SERVICES CONTRACTS Section 4.01: Purpose and Scope. The Orange County Sanitation District, in the interest of uniformity, fairness and cost effectiveness desires to establish policies and procedures for the selection and procurement of professional engineering, architectural, environmental, land surveying and construction management services. Section 4.02: Retention of Professional Technical Consultants. This Resolution establishes a procedure to be followed in the selection and retention of Professional Technical Consultants in the areas of engineering, architecture, environmental, land surveying, construction management services and related services. Professional Technical Consultants are those individuals or firms providing engineering, architectural, environmental or land surveying services which are those professional services associated with research, development, design and construction, alteration, or repair of real property, as well as incidental services that members of these professions and those in their employ may logically or justifiably perform, including studies, investigations, surveys, evaluations, consultations, planning, programming, conceptual designs, plans and specifications, cost estimates, inspections, shop drawing reviews, sample recommendations, preparation of operation and maintenance manuals, and other related services. Services for product testing are excluded. It is recognized that no two individuals or firms have equal skills, training, or experience and that the qualities of such persons vary. Accordingly, Professional Technical Consultants shall be selected based upon the District's discretion and opinion as to which particular consultant is best qualified to perform the work (hereinafter referred to as "projects") in question. For purposes of this Resolution, "firm" shall mean any individual, firm, partnership, corporation, association, or other legal entity permitted by law to practice the profession of architecture, engineering, environmental services, land surveying, or construction project management. Evaluation and selection of a consultant firm will include but not be limited to the following: A The firm shall be of high ethical and professional standing, its members being of good moral character, and it shall be prepared to submit references from persons of known repute. B. The principal and other responsible members of the firm must be registered in the State of California, as required by law. TLW Draft No. 12:05119199:#103185 16 C. A principal member of the firm's staff must have at least ten years' recent experience in responsible charge of work of the type involved in the project. D. At least two additional members of the firm's staff must have at least five years' experience in responsible charge in the field, or fields, required by the project. E. The firm shall be capable of performing the work within the prescribed time limitations considering the current and planned work loads of the firm. F. If all other factors are equal, preference shall be given to a local based firm when more than one firm is being considered. G. If the project is funded, either in whole or in part, by federal funds that require, as a condition of establishing or maintaining eligibility for federal funds, that firms working on the project maintain an affirmative action employment program, then the firm selected for the project must certify to having such a program. The District also recognizes that the scope of services and the qualifications of consultants can differ significantly between major capital facilities projects and small capital projects. The criteria set forth in Paragraphs C and D above may be waived by District for small capital projects. The procedures set forth in this Resolution shall govern the retention of such professional consultants. Section 4.03: Small Capital Project: Defined. "Small capital project" is defined as a miscellaneous capital improvement or facility modification, replacement, or repair project, related to plant safety, reliability and efficiency enhancements where professional consulting services are estimated to be in an amount not to exceed $50,000.00 for each project. Section 4.04: Small Capital Project: Approval of Plans and Specifications. The Board of Directors delegates to the Director of Engineering, as Professional Registered Engineer, the authority to approve the design, plans, and specifications for construction of new or modified District facilities that is deemed a small capital project, as defined in Section 4.03 above. Section 4.05: Small Capital Project: Annual Budget Approval. Upon approval by the Board of Directors of an annual budget, the District's Staff shall be authorized to solicit contract proposals from professional engineering, architectural, environmental, land surveying and construction management firms to perform the required services for the approved small capital projects, as defined and prescribed herein. TLW Draft No. 12:05/19/99:#103185 17 Section 4.06: Small Capital Project: Selection of Consultants -Procedure. A. District's staff shall compile a master pre-approved list of 5-10 firms having the required expertise to perform the required professional service for a small project. The master list of firms will be selected based upon a solicitation, review of qualifications, and Board approval. The original term of the agreement shall be for one {1) year. Thereafter, the Department Director shall be authorized to recommend to the General Manager, an extension of the professional consulting services agreement for up to two (2) additional one {1 )-year renewal periods, for a total of three (3) years, with each of the parties designated on the approved master list. The professional consulting services agreement for each party on the master list shall be forwarded to the purchasing office. The Engineering Department Staff shall prepare the appropriate requisition documentation to insure future payment to the consultant. B. As a need for an individual specific project arises, the District will implement the Agreement by issuing a task order identifying the specific project by name and number and including the approved scope of work required of the consultant for the project. The scope of work for any individual task order, shall not entail a cost in excess of $50,000.00. There is a maximum annual limitation of $200,000.00 for each individual consultant purchase order under the provisions of this Section 4.06. C. The Department Director shall first obtain at least two (2) price proposals from consultants before the task order is awarded to a consultant. This requirement may be waived at the discretion of the Department Director where a determination is made that the subject work is unique such that only one (1) consultant is available to perform the work, or where significant time constraints or emergency conditions dictate that one (1) consultant be solicited for a price proposal. The Department Director, or his designee, shall review the proposals specifically addressing cost and ability to meet District schedule requirements. Based on the evaluations, the Department Director is authorized to award the task order. D. Once the consultant is selected for the award of a small capital project and the task order is executed by the District, the Department Director shall issue the notice to proceed. E. Addenda to a particular task order shall be approved by the Department Director. However, the amount for each addendum may not exceed $50,000.00, and the cumulative total for all addenda may not exceed $50,000.00. The Department Director shall issue the task order addendum in letter form. Section 4.07: Major Capital Project: Defined. "Major capital project" means the construction, repair, modification, or rehabilitation of the District's Capital Facilities, including treatment plants, trunk sewers, pump stations, ocean outfall, administrative and support facilities, and other facilities related to District operations, TLW Draft No. 12:05/19/99:#103185 18 where the cost of professional technical consulting services are estimated to be in an amount in excess of $50,000.00 for any project. These projects may require Selection Committee or Board approvals. Minor or specialty-item capital projects are defined as projects, where the cost of professional technical consulting services are estimated to be in an amount more than $50,000.00, and less than or equal to $100,000.00 and require only General Manager approval. Requirements for Scope of Work, Proposal, Procurement and Negotiation Agreement Continuation of Services, Agreement of Services, and Conflict of Interest apply for both Major Capital Projects and Minor or Specialty-Item Capital Projects, with deviation only in authorization levels. Section 4.08: Major Capital Proiect: Scope of Work. A For every project approved by the Board of Directors and for which outside services are required, the District staff shall develop a comprehensive scope of work. B. The scope shall define the extent of the services and the time required. Section 4.09: Major Capital Project: Selection of Consultants -Procedure. For the employment of any professional consulting services for major capital projects, the following procedures shall apply: A Proposals -Notice Requesting. Staff shall prepare a Request for Proposal ("RFP") or a Request for Qualifications ("RFQ") for the scope of work which shall include a request for the firm's qualifications, personnel capability, demonstration of firm's capabilities, identification of personnel assigned to the project, estimate of number of hours for each aspect of the project, fee proposals and conflict of interest disclaimer. The Request for Qualifications' process may be used, at Staff's discretion, to narrow the field of firms submitting proposals on the project. District shall maintain a comprehensive list of professional consultants' demonstrated competence. Notice shall be mailed to all firms requesting notice of any RFP or RFQ issued by the District. Optionally, notice may be given by publication in professional journals or publications of general circulation. B. Staff Screening Committee. A screening committee of at least two (2) staff members as chosen by the Department Director shall review all submitted proposals and prepare a recommendation for selection of the best qualified consultant to the Selection Committee, as described in Paragraph D below. TLW Draft No. 12:05/19/99:#103185 19 c. Proposals -Contents. Proposals submitted shall: 1. Acknowledge the scope of the project and extent of the services required. 2. Include a description of the firm's qualifications for performing the proposed work. 3. In the case of a proposal for construction management services, each firm shall provide evidence that its personnel that will carry out on-site responsibilities have expertise and experience in construction project design review and evaluation, construction mobilization and supervision, bid evaluation, project scheduling, cost-benefit analysis, claims review and negotiation, and general management and administration of a construction project. 4. Include past performance records of the firm. 5. Demonstrate the firm's capabilities to complete the work within the time allotted. 6. Identify the specific key personnel to be assigned to the project. 7. Provide an estimate of the number of hours involved in each aspect of the scope of work for such personnel. 8. Be accompanied by a sealed fee proposal estimate which shall not be opened until the firm is selected as being qualified. Thereafter, it shall be the basis, for procurement negotiations. The form of the fee proposal shall be as described in Subsections F2 and F3 below. 9. Contain a conflict of interest disclaimer. 10. Provide any other information required to properly evaluate the firm's qualifications and familiarity with the types of problems applicable to the project. D. Selection Committee -Membership. 1. The members of the Board of Directors Standing Committee principally responsible for the project and contract under consideration for approval shall constitute the Selection Committee for District projects. TLW Draft No. 12:05/19/99:#103185 20 2. At the discretion of the District Chair, additional Directors may be appointed to the Committee to assist in the consideration of proposals for specific projects. E. Review of Proposals by Staff Committee and Selection Committee. 1. The Staff Committee shall review each proposal and the qualifications of each firm with due consideration of office location, reputation in the professional community, experience, both generally and specifically on similar-type projects, the project approach, understanding of the scope of work, financial standing, number of qualified personnel and their availability for the project, quality of references, work load and other factors relevant to the project being considered. 2. The Staff Committee, upon completion of their evaluation of all proposals, shall determine those firms deemed to be fully qualified to provide the services sought by the District based on their demonstrated competence and qualifications. 3. The Staff Committee, upon making a determination of the fully qualified firms, shall rank the firms considered, in order of preference, based upon the qualification of each, as described in Subparagraph E(1) above. Thereafter the Committee shall open the sealed fee proposal of the qualified firms. Based upon the fee proposal, the committee may recommend to the Selection Committee or the Board of Directors an individual or firm for award of the contract. The recommended individual or firm can be ranked lower than firms with higher fee proposals. 4. The Selection Committee shall receive and review the recommendation of the Staff Committee and either award or recommend to the Board of Directors, either the approval or disapproval of the Staff recommendation to award a contract, as authorized in Section 7 below. F. Procurement and Negotiation of Agreement. To determine the firm to be selected and the compensation for the services sought, the following procedures will be strictly adhered to: 1. The Staff Committee will, at its discretion, invite the firm that is considered to be the best qualified to appear before the Staff Committee. 2. The proposal for fees associated with the services as submitted by the selected firm shall be presented in sufficient detail to enable the Staff Committee to adequately ascertain the level of effort associated with TLW Draft No. 12:05/19/99:#103185 21 the scope of work and to determine whether the firm has thoroughly identified the efforts associated with the services and thoroughly understands the work required. 3. The basis of the fee shall be: Cost plus a fixed fee with a maximum amount, a per diem rate(s) with a maximum amount, or a lump sum (fixed) fee. 4. If it is the decision of the Staff Committee to use methods for compensation other than the lump sum or cost plus a fixed fee with a maximum, or the per diem rates with a maximum, justifications for this decision shall be made by the Staff Committee in its recommendation to the Selection Committee and the Board of Directors. 5. The Staff Committee shall review the compensation requested by the firm which shall be compared with the maximum fee as previously established. 6. The final negotiated fee, as recommended to the Selection Committee and Board of Directors, shall be certified by the Staff Committee as reasonable for the services requested and not resulting in excessive profits for the firm. 7. If agreement is not reached, the negotiations should be terminated and similar interviews should then follow with the next-ranked firm. 8. All such negotiations shall be on a strictly confidential basis, and in no case shall the compensation discussed with one firm be discussed with another. G. Continuation of Services. 1. In some instances where a qualified firm has satisfactorily completed one phase in the development of a project and the Board determines that it is in the best interests of the District to retain the same firm for subsequent phases of related work, the Staff Committee or the Selection Committee may be authorized to proceed directly with negotiations with that firm for the additional work. 2. Continuation of services may arise when a firm has completed a feasibility report or a preliminary engineering report and the services for said work are satisfactory to the Board and the procedure of examining other firms for subsequent phases is not deemed necessary or cost effective. TLW Draft No. 12:05/19/99:#103185 22 3. In the event that satisfactory negotiations for price cannot be concluded under these circumstances, negotiations should be terminated and the provisions set forth hereinabove for selection of a firm would apply. H. Specialized Services. 1. In the event that specialized services are required where it is determined that only one qualified firm can best perform the services for a specific project in an amount greater than $50,000.00, the Staff Committee, in the case where the fees are greater than $50,000.00, will report to the Selection Committee said findings and request authority to negotiate directly with the particular specialized firm. 2. The basis of selection of the specialized firm or individual under Subparagraph H(1) above, along with the negotiated fee, shall be presented to the Board of Directors for consideration. I. Ag reement for Services. 1. Upon approval by the Board of a negotiated agreement for professional services, a contract shall be executed in a form approved by the General Counsel. terms: 2. The contract shall include, but not be limited to the following (a) A statement of the scope of the project. (b) The basis and individual elements of the fees. (c) The basis for payment to the firm. ( d) The time limits in which the services must be performed. ( e) Provisions for fee adjustments should there be changes in the scope of work. (f) If it is determined by the Selection Committee that the District may be caused to incur a penalty or liability, or suffer a loss because of the failure of the firm to perform the work within specified time limits, the contract shall include a clause setting forth penalties for such nonperformance or delayed performance, in amounts to be determined by the Committee. TLW Draft No. 12:05/19/99:#103185 23 {g) For projects exceeding $50,000.00 in fees or in other cases as determined by the District, errors and omissions insurance in an amount recommended by the General Counsel {based upon engineering data from the Department Director) shall be required, unless the Standing Committee or Board of Directors, as the case may be, waives said insurance. For projects that involve small engineering studies where a consultant is asked to provide a report not related or leading directly to a design project, the General Manager {based upon engineering data from the Department Director), in his discretion, may waive the requirement for the consultant to provide errors and omissions/professional liability insurance. J. Conflict of Interest 1. The District maintains a Conflict of Interest Code, pursuant to California Government Code Section 87100 et seq., which governs the activities and performance of duties of its officers, employees, or agents in the conduct of project work for the District. 2. No Director, officer, employee or agent shall solicit or accept rebates, kickbacks, favors or other unlawful consideration from any individual or firm on behalf of any firm that may be potentially selected as a qualified firm to provide professional consulting services to the District. Acceptance of food and refreshments of nominal value on infrequent occasions and acceptance of gratuities or gifts shall not be deemed a violation of this provision, provided that if said items exceed $290.00, or the amount as fixed by Government Code Section 89503, or California Code of Regulations, Title 2, Section 18940.1, in a calendar year, the Director, officer, employee or agent may be disqualified from participating in the decision pursuant to Article Ill of the District's Conflict of Interest Code; and provided further, that any Director, officer, employee or agent, as a designated employee under the District's Conflict of Interest Code, shall report any amount of gifts on his/her annual Statement of Economic Interest as required by said Code. 3. Any firm seeking selection under these procedures that violates the District's Conflict of Interest Code shall be automatically disqualified. TLW Draft No. 12:05/19/99:#103185 24 Section 4.1 O: Maier Capital Proiect: Award of Professional Services Agreements. A. Professional Consulting Services. The award and execution of an agreement for professional consulting services on behalf of the District shall be made in accordance with the following delegations of authority: 1. 2. 3. 4. Authorizing Authority Department Heads General Manager OMTS, PDC, or FAHR Committee (or Standing (Committees) Board of Directors Authorized Action Solicitation of Requests for Qualifications ("RFQ") and Requests for Proposals (RFP"). Authorization to evaluate proposals and to execute contracts up to $100,000. Receive recommendations of Staff and General Manager, and approve Profes- sional Services Agreements of over $100,000.00 up to $200,000.00. Receive recommendations of Staff, General Manager and Committee, and approve Professional Services Agreements for over $200,000.00. 8. Professional Consulting Services Agreement Addenda. The award and execution of an addendum to an agreement for professional consulting services on behalf of the District shall be made in accordance with the following: 1. 2. Authorizing Authority Department Head General Manager TLW Draft No. 12:05/19/99:#103185 25 Authorized Action Authority to negotiate addenda. Receive recommendation of Staff and approve contract changes up to $100,000.00 per addendum on previously-awarded Board contracts. The additive value of the total of the General Manager-approved contracts, and all addenda, shall not exceed $100,000.00. 3. 4. OMTS, PDC, or FAHR Committee (or Standing Committee) Board of Directors Receive recommendations of Staff and General Manager, and approve contract changes between $100,000.00 and $200,000.00 on Board-awarded contracts, and between $0.00 and $200,000.00 on General Manager- awarded contracts. The additive value of the changes shall not exceed $200,000.00. Receive recommendations of Staff, General Manager and Committee and approve contract changes for over $200,000.00. Section 4.11: Major Capital Project: Approval of Plans and Specifications. The procedure and authority for the approval of the design plans and specifications for construction of new or modified District's major capital projects is as follows: A. For any project with approved budget authority, the Director of Engineering is authorized to advertise for construction bids, set a bid date, and receive all bids. B. For any project, if the engineer's estimate for the construction contract, as provided by the Director of Engineering or the District's consulting design engineer is equal to or less than the approved construction budget for the project, the Director of Engineering may advertise for bids, and upon receipt, the lowest responsive bid of a responsible bidder will be submitted to the Board of Directors for approval. C. For any project, if the engineer's estimate for the construction contract, as provided by the Director of Engineering or the District's consulting design engineer, is greater than the approved construction budget for the project, the Director of Engineering shall submit the project to the Standing Committee for recommendation, and based thereon, to the Board of Directors for approval. D. For any project, upon receipt of bids for the construction, if the lowest responsive bid of a responsible bidder is equal to or less than the approved construction budget for the project, the bid will be submitted to the Board of Directors. The Board of Directors, upon receipt of the bid, shall approve the plans and specifications of the project and may award a contract. E. For any project, upon receipt of bids for the construction, if the lowest responsive bid of a responsible bidder is greater than the approved construction TLW Draft No. 12:05/19/99:#103185 26 budget for the project, Staff shall present the bid and a recommendation to the Standing Committee for review and recommendation to the Board of Directors. ARTICLE V PUBLIC WORKS CONSTRUCTION CONTRACTS Section 5.01 Purpose and Scope. Public works contracts are herein defined as contracts with duly licensed contractors in the State of California for the furnishing of labor, materials, equipment and permits, as deemed necessary, for the erection, construction, alteration, repair, or improvement of wastewater collection, treatment and disposal facilities, and any other public building, structure or improvement necessary to the operation of the District, in an amount greater than Thirty-Five Thousand ($35,000.00) Dollars, as per California Public Contracts Code Sections 20783 et seq. Section 5.02: Public Works: Bidding Required. When the expenditure required for a public works construction project exceeds Thirty-Five Thousand'- ($35,000.00) Dollars, it shall be contracted for and let to the lowest responsible bidder, in accordance with the provisions of California Public Contracts Code Section 20783. Section 5.03: Bidding Procedure: Public Works Construction Greater Than $35,000.00. Procedures for soliciting bids and awarding contracts for public works projects for more than Thirty-Five Thousand ($35,000.00) Dollars, shall be by written contract with the lowest responsible bidder, pursuant to the procedures prescribed herein and in accordance with applicable provisions of California Public Contracts Code Section 20783. A. Notice Inviting Bids. The Notice Inviting Bids shall specifically describe the work to be performed, shall state where bid forms, Specifications, and General and Special Provisions may be secured, and the time and place for receiving and opening sealed bids. 1. Published Notice. The Notice Inviting Bids shall set a date for the opening of bids. The first publication or posting of the Notice shall be at least ten (10) calendar days before the date for the opening of the bids. The Notice shall be published at least two (2) times, not less than five (5) days apart, in a newspaper of general circulation, printed and published within the District. 2. Mailed Notice. Unless the work to be done is proprietary, the Notice Inviting Bids shall be published in a public newspaper which carries Orange County public works bid notices, not less than twenty-one (21) calendar days before the date of opening of bids. TLW Draft No. 12:05/19/99:#103185 27 3. Bidders List. The Engineering Department may also solicit sealed bids from all qualified, responsible, prospective suppliers whose names are on a Bidders List that may be maintained by District. B. Bidder's Security. When deemed necessary by the Purchasing Division, bidder's security may be prescribed in the contract Specifications and in the public Notice Inviting Bids. Bidders shall be entitled to return of bid security, upon full execution by the successful bidder of an awarded contract by the District. A successful bidder shall forfeit its bid security upon refusal or failure to execute the contract within the prescribed time after the Notice of Award of Contract has been delivered to the bidder, unless the District is responsible for the delay in the prescribed time. The Board of Directors may, on refusal or failure of the successful bidder to execute the contract, award it to the next lowest responsive, responsible bidder. If the Board of Directors awards the contract to the next lowest bidder, an amount of the lowest bidder's security equal to the difference in an amount between the low bid and the awarded _bid, shall be forfeited to the District, and the surplus, if any, shall be returned to the lowest bidder. C. Bid Opening Procedure. Sealed bids shall be submitted to the Director of Engineering or Contracts/Purchasing Manager, or their designees, and Secretary of the Board of Directors, and shall be identified as a bid, on the envelope. Bids shall be opened by the Director of Engineering or Contracts/Purchasing Manager, or their designee, in public, at the time and place stated in the public notice. A tabulation of all bids received shall be open for public inspection during regular business hours for a period of not less than thirty (30) calendar days after the bid opening. D. Rejection of Bids. In its discretion, the Board of Directors may reject any and all bids presented and readvertise for bids. If, after the opening of bids, all bids are rejected, the Board of Directors, on a Resolution adopted by a four-fifths (4/5) vote, may declare that the work can be performed more economically by force account, or the materials or supplies furnished at a lower price in the open market and may have the work done in a manner stated in the Resolution in order to take advantage of this lower cost. E. Tie Bids. If two or more bids received are for the same total amount or unit price (with quality and service being equal) and if the public interest will not be best served by a delay or readvertising for bids, the Board of Directors may accept the one it chooses, or accept the lowest bid made by negotiation with the tie bidders at the time of the award. F. No Bids. If no bids are received, the District may have the work done by force account; may readvertise for bids pursuant to the procedures herein; or TLW Draft No. 12:05/19/99:#103185 28 may select a contractor by negotiation. G. Emergencies. Whenever an emergency arises which is, or may be, a threat to the continued operation of the wastewater facilities, support facilities and/or administrative facilities operated by the District, a contract for the repair or replacement of the public facility may be ordered by the General Manager without complying with the provisions of this Resolution or the California Public Contracts Code. This authority is hereby delegated to the General Manager, or his designee, by the Board of Directors pursuant to the authority of California Public Contracts Code Section 22050. In such event, the General Manager shall advise the District Chair and/or Vice Chair, as appropriate, of the action taken, and such action shall be confirmed by a four-fifths (4/5) vote of the Board of Directors at its next regular meeting. H. Surety Bonds. The Purchasing Division shall require a Faithful Performance Bond and a Labor and Materials Bond. A Warranty Bond may be required before entering into a contract in an amount up to one hundred (100%) percent of the amount of the contract, as it shall find reasonably necessary to protect the best interests of the District. The form and amount of the bond shall be described in the Notice Inviting Bids, or in the contract Specifications. I. Cost Records. Cost records shall be kept in the manner provided in Sections 4000 to 4007, inclusive, of the California Government Code. Section 5.04: Approval of Change Orders to Construction Agreements. The procedure and authority for the approval of change orders to construction agreements is as follows: A. General Manager. The General Manager is authorized to approve any single change order with a total amount of additions to the agreement (not the net amount of the change order), not to exceed $100,000.00, and a total cumulative amount for all change order additions to the agreement not to exceed 5% of the original ?greement amount, or $100,000.00, whichever is less. B. Planning, Design & Construction Committee. The Planning, Design & Construction Committee is authorized to approve any single change order with a total amount of additions to the agreement (not the net amount of the change order), not to exceed $200,000.00, and a total cumulative amount for all change order additions to the agreement not to exceed 10% of the original agreement amount, or $200,000.00. whichever is less. C. Management and Staff. At such time as the Staff becomes aware of a fact or circumstance that will likely result in total additive change orders exceeding 5% percent of the original contract amount, it shall be presented to the Planning, Design & Construction Committee at its next regular meeting for review, consideration, TLW Draft No. 12:05/19/99:#103185 29 and possible action. ARTICLE VI MEETINGS (AND RELATED TRAVEL} AND TRAINING (AND RELATED TRAVEL} EXPENDITURES Section 6.01: Purpose and Scope. This Article sets forth the procedures and scope of delegated authority by which District employees are authorized to incur expenses for budget-approved meetings and training in furtherance of District business. Section 6.02: General. A. Meetings or training exceeding $500.00 will be itemized, as well as possible, in the approved budget. It is recognized that some meetings and training cannot be preplanned. B. All out-of-country travel (excluding Canada and Mexico) requires approval by the Board of Directors. C. Meetings or training requests exceeding $2,000.00 will be approved by the Department Director. D. Meetings or training requests less than $2,000.00 will be approved by the Division Manager. E. Established approvals must be received prior to arrangements for meetings or training being made. Section 6.03: Policies and Procedures. All policies and procedures governing meetings and training, such as the use of District forms and justification, will be followed. ARTICLE VII MISCELLANEOUS Section 7.01: Noncompliance. Any transaction failing to comply with this Resolution in any respect is voidable in the discretion of the Board of Directors, and any employee willfully and knowingly violating any provision of this Resolution may be subject to disciplinary action. TLW Draft No. 12:05/19/99:#103185 30 Section 7.02: Severability. If any section, subsection, subdivision, sentence, clause or phrase of this Resolution is for any reason held to be unconstitutional or otherwise invalid, such invalidity shall not affect the validity of the entire Resolution or any of the remaining portions thereof. The Board of Directors hereby declares that it would have passed this Resolution, and each section, subsection, subdivision, sentence, clause and phrase thereof, irrespective of the fact that any one or more sections, subsections, subdivisions, sentences, clauses or phrases be declared unconstitutional or otherwise invalid. Section 7.03: Effective Date. This Resolution shall take effect immediately upon adoption by the Board of Directors. Section 7.04: Repeal of Prior Resolutions. Resolutions Nos. OCSD 98-8, OCSD 98-12, OCSD 98-22, and OCSD 98-43 are hereby repealed in their entirety. PASSED AND ADOPTED at a regular meeting of the Board of Directors held ______ , 1999. Chair ATTEST: Board Secretary TLW Draft No. 12:05/19/99:#103185 31 FAHR COMMITTEE Meeting Date 06/09/99 AGENDA REPORT Item Number FAHR99-47 County Sanitation Districts of Orange County, (alifomia FROM: Gary Streed, Director of Finance SUBJECT: PROPOSED FY 1999-00 OPERATING, CAPITAL, DEBT/COP SERVICE AND SELF-INSURANCE BUDGETS GENERAL MANAGER'S RECOMMENDATION 1. That the Joint Boards of Directors recommend approval of the proposed Operating, Capital, DebUCOP Service and Self-Insurance Budgets for 1999-00 to the Board of Directors on June 23, 1999, as follows: Joint Works Operating/Working Capital Worker's Compensation Self Insurance Public Liability Self-Insurance Joint Works Capital Outlay Revolving Collection System Operating Collection System Capital Improvements DebUCOP Service SUMMARY $44,000,000 $330,000 $792,000 $68,771,000 $9,356,500 $23,629,000 $41 ,690,000 The 1999-00 Budget is enclosed for the Committee's consideration. The Budget has been presented to the OMTS and PDC Committees at their regular June meetings in order to allow each Standing Committee an opportunity to review the proposal prior to the June Board meeting. The entire Budget will be presented for Board consideration on June 23, 1999. Although each Committee has had an opportunity to review the proposal, it remains. the responsibility of the Finance, Administration and Human Resources Committee to recommend approval of the Joint Works Operating and Capital Budgets. The remaining budgets are also being presented to the FAHR Committee as a result of consolidation. The FAHR Committee is requested to recommend that the Board of Directors approve this budget. H:\wp.dta\agenda\FAHR\Fah199199ar\FAHR99-<47.doc Revised: 115198 Page 1 ToJt. Bds. 06/23/99 Item Number PROJECT/CONTRACT COST SUMMARY NIA BUDGET IMPACT D This item has been budgeted. D Tt,js item has been budgeted, but there are insufficient funds. D This item has not been budgeted. ~ Not applicable (information item) ADDITIONAL INFORMATION None. ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS 1. Proposed 1999-00 Budget GGS:lc H:\wp.dta\agendalFAHR\Fahr99199ar\FAHR99-47.doc Revised: 115198 Page2 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Mike Peterman, Director of Human Resources SUBJECT: Employer-Employee Relations Resolution GENERAL MANAGER'S RECOMMENDATION Meeting Date To Bd. of Dir. 6/9/99 6/26/99 Item Number Item Number FAHR99-48 1. Adopt Resolution No. OCSD 99-_, Adopting Rules and Regulations for Employer- Employee Relations and Repealing Resolution No. OCSD 98-34 . 2. Direct the Director of Human Resources to meet and consult with affected employee organizations and return to the Board for final adoption with any recommended modifications. SUMMARY It has been nearly 25 years since the District updated the rules and regulations regarding the unions and negotiations. Changes in the law since 1975 make it desirable and appropriate to update the old employment relations rules. The primary feature of the new Resolution is that it allows only one employee organization per bargaining unit, thus eliminating the possibility of having multiple organizations representing employees in the same classifications and units. Section 6 of the old Resolution 75-127 allows recognition of an employee organization by any "reasonable method". After the District adopted that Resolution, the Supreme Court held that a public agency could restrict a bargaining unit to representation by only one employee organization. However, in order to do so, the Court stated that the public agency must (1) adopt an employee relations ordinance providing for exclusive representation, and (2) hold an election among the employees. (Covina Azusa Firefighters v. City of Azuza) The new Resolution also allows the Director of Human Resources to modify bargaining units based on his or her own initiative, rather than only upon request of an employee organization. Finally, it contains a "grandfather clause" so as not to disturb the rights of existing employee organizations. After Board approval, the District must "meet and consult" prior to final adoption of the Resolution. PROJECT/CONTRACT COST SUMMARY BUDGET IMPACT D This item has been budgeted. (Line item:) D This item has been budgeted, but there are insufficient funds. H:lwp.dta\agenda\FAHR\Fahr99199ar\FAHR~.dot RIIYised: 8/2Q.l98 Page 1 D This item has not been budgeted. ~ Not applicable (information item) ADDITIONAL INFORMATION ALTERNATIVES CEQA FINDINf:;S NIA ATTACHMENTS Resolution No. 99--- H:\wp.dta\hr\510\peterman\Fahr\ERR.dol Revised: 8/20198 Page 2 RESOLUTION NO. OCSD 99-_ ADOPTING A NEW EMPLOYER-EMPLOYEE RELATIONS RESOLUTION AND REPEALING RESOLUTION NO. OCSD 98-34 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE ORANGE COUNTY SANITATION DISTRICT ADOPTING A NEW EMPLOYER-EMPLOYEE RELATIONS RESOLUTION AND REPEALING RESOLUTION NO. OCSD 98-34. WHEREAS, Joint Resolution No. 75-127 established rules and regulations for Employer-Employee Relations of the former County Sanitation Districts of Orange County; and, WHEREAS, upon consolidation of the Districts into the Orange County Sanitation District, former Joint Resolution No. 75-127 was re-enacted without change as Resolution No. OCSD 98-34; and WHEREAS, changes in the laws and District practices since 1975 make it desirable and appropriate to update the District's employment relations rules and regulations; and WHEREAS, State law (the Meyers-Milias-Brown Act) permit local agencies to adopt reasonable rules and regulations for the orderly administration of labor relations after meeting and consulting with appropriate labor organizations, NOW THEREFORE, the Board of Directors of the Orange County Sanitation District, DOES HEREBY RESOLVE, DETERMINE AND ORDER: SECTION 1: That this Resolution adopting rules and regulations for employer- employee relations and repealing Resolution No. OCSD 98-34 is approved in concept. Section 2: That the Director of Human Resources is directed to meet and consult with affected employee organizations and return to this board for final adoption with any recommended modifications. SECTION 1. ARTICLE I. GENERAL PROVISIONS STATEMENT OF PURPOSE This Resolution implements Chapter 10, division 4, Title 1 of the Government Code of the State of California (Sections ·3500 et seq.) captioned "Local Public Employee Organizations", by providing orderly procedures for the administration of employer- employee relations between the District and its employee organizations. Nothing contained herein shall be deemed to supersede the provisions of the State law. It is the purpose of this Resolution to provide procedures for meeting and conferring in good faith with recognized employee organizations regarding the wages, hours and other terms and conditions of employment of employees in appropriate units and that are not preempted by Federal or State law. This policy is supplemented by provisions recognizing and defining the rights of employees to join organizations of their own choosing for the purpose of representation on matters affecting employee relations or to represent themselves individually in dealing with the District. SECTION 2. DEFINITIONS As used in this Resolution, the following terms shall have the meanings indicated: a. "Appropriate representation unit" means a group of employee classes or positions, established in accordance with the criteria set forth in Article II, Section 6. b. "Confidential employees" are those employees who, with authorized access, assist and act in a confidential capacity to and for persons who formulate, determine, and effectuate management policies with respect to labor relations. c. "Consult" means to communicate verbally or in writing for the purpose of presenting and obtaining views and advising of intended action. d. "Contract employee" means an individual who works for the District pursuant to a written contract as set forth in Policy A10.00 in the "Human Resources Department Policies and Procedures" manual. e. "Day" means calendar day unless expressly stated otherwise. f. "District" means the Orange County Sanitation District. g. "District representative" means any individual designated to represent the District with regard to employer-employee relations. h. "Regular employee" means any person employed by the District except elected officials and temporary and contract employees. 2 i. "Employee organization" means any organization which includes employees of the District and which has as one of its primary purposes representing such employees in their employment relations with the District. J. "Employee Relations Officer" means the Director of Human Resources or the Director's designee. k. "Exclusively Recognized Employee Organization" means the employee organization which has been formally acknowledged by the District as the exclusive representative of employees in an appropriate representation unit, pursuant to a majority vote of the employees in such a unit. There shall be no recognition of employee organizations other than exclusive recognition. I. "Impasse" means the existence of unresolved differences after good faith negotiations over an issue regarding wages, hours or other terms and conditions of employment. m. "Management Employee" means an employee having responsibility for formulating, administering or managing the implementation of District policies and programs. n. "Mediation" means the efforts of an impartial third person, or persons, functioning as intermediaries, to assist the parties in reaching a voluntary resolution of an impasse. o. "Meet and confer in good faith", or "meet and confer", means that the representatives of EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATIONS and the District shall have the mutual obligation personally to meet and confer promptly upon request by either party and continue for a reasonable period of time in order to exchange freely information, opinions, and proposals, and to endeavor to reach agreement on matters within the scope of representation, including the mutual obligation to execute a written document incorporating any agreement reached. p. "Proof of Employee Support" means (1) an authorization card recently signed and dated by an employee, or (2) a verified authorization petition or petitions recently signed and dated by an employee, or (3) employee dues deduction authorization, using the payroll register for the period immediately prior to the date a petition is filed except that dues deduction authorizations for more than one employee organization for the account of any one employee shall not be considered as proof of employee support. The only authorization which shall be considered as proof of employee support shall be the authorization last signed by an employee. The words "recently signed" shall mean within sixty (60) days prior to the filing of a petition. 3 q. "Professional Employees" means employees engaged in work requmng specialized knowledge and skills attained through completion of a recognized course of instruction, including but not limited to, attorneys, physicians, registered nurses, engineers, architects, teachers, and the various types of physical, chemical, and biological scientists. r. "Resolution" means, unless otherwise specified herein, this "Employer-Employee Relations Resolutionn and any amendments thereto. s. "Scope of Representationn means all matters relating to employment conditions and employer-employee relations, concerning which the District is obligated by law to meet and confer, including, but not limited to, wages, hours, and other terms and conditions of employment; except that the parties may, by mutual agreement, negotiate on matters of employment concerning issues upon which negotiation is neither required nor prohibited by the law or this Resolution. t. "Supervisory employee" means any employee having authority, in the interest of the District, to hire, transfer, suspend, layoff, recall, promote, discharge, assign, reward, or discipline other employees, or responsibility to direct them, or to adjust their grievances, or effectively to recommend such action if, in connection with the foregoing, the exercise of such authority is not of a merely routine or clerical nature, but required the use of independent judgment. SECTION 3. EMPLOYEE RIGHTS AND RESPONSIBILITIES a. Employees of the District shall have the right to form, join and participate in the activities of employee organizations of their own choosing for the purpose of representation on matters within the scope of representation. b. Employees of the District shall also have the right to refuse to join or participate in the activities of employee organizations and shall have the right to represent themselves individually in their employment relations with the district to the extent permitted by law. c. No employee shall be interfered with, dominated, intimidated, restrained, coerced or discriminated against by the District because of the exercise of the rights contained in this Resolution. d. No employee shall be interfered with, intimidated, restrained, coerced or discriminated against by any employee organization because of the exercise of the rights contained in this Resolution. SECTION 4. MANAGMEENT RIGHTS AND RESPONSIBILITIES a. In order to insure that the District is able to carry out functions and responsibilities imposed by law, the District has and will retain the exclusive right 4 to manage and direct the performance of District services, which includes, among others, the exclusive right to: • Determine issues of public policy; determine the m1ss1on of its constituent departments, commissions and boards; set levels and standards of service; • Determine the procedures and standards of selection for employment; direct its employees; • Relieve its employees from duty because of lack of work or for other lawful reasons; • Maintain the efficiency of District operations; • Contract out work; • Determine the methods, means and personnel by which District operations are to be conducted; and, exercise control and discretion over its organization and the technology of performing its work. b. The District retains its right to amend, modify, or rescind any policies, practices or agreements which impact upon wages, hours or working conditions of employees in cases of emergency. Emergencies shall be defined as acts of God, natural disasters, legislative acts, judicial action or other acts which are beyond the control of the District, and which would authorize District action without meeting and conferring under State law. If under this section the District amends, modifies or rescinds any policy, practice or agreement, such amendment, modification or rescission will continue only for the duration of the emergency. ARTICLE II. EXCLUSIVE REPRESENTATION PROCEEDINGS SECTION 1. FILING OF RECOGNITION PETITION BY EMPLOYEE ORGANIZATION An employee organization that seeks to be formally acknowledged as the EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION representing the employees in an appropriate representation unit shall file a statement with the Employee Relations Officer containing the following information and documentation: a. Name and address of the employee organization. b. Names and titles of its officers. 5 c. Names of employee organization representatives who are authorized to act on behalf of the organization. d. A statement that the employee organization has, as one of its primary purposes, representing employees in their employment relations with the District. e. A statement whether the employee organization is a chapter of, or affiliated directly or indirectly in any manner, with a local, regional, state, national or international organization, and, if so, the name and address of each such other organization. f. Certified copies of the employee organization's Constitution and By-Laws. g. A designation of those persons, not exceeding two in number, and their addresses, to whom notice sent by regular United States mail will be deemed sufficient notice to the employee organization for any purpose. h. The job classifications or titles of employees in the unit claimed to be appropriate. i. A statement that the employee organization has in its possession proof of employee support to establish that thirty percent (30%) of the employees in the unit claimed to be appropriate have designated the employee organization to represent them in their employment relations with the District. j. A request that the District formally acknowledge the petitioner as the EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION representing the employees in the unit claimed to be appropriate for the purposes of meeting and conferring in good faith. k. The petition, including the proof of employee support and all accompanying documentation, shall be declared to be true, correct and complete, under penalty of perjury, by the duly authorized officer(s) of the employee organization executing it. I. The District or its Employee Relations Officer may request verification of the sufficiency of the signatures submitted in support of a petition. Such request for verification shall be made within fifteen (15) calendar days after receipt of the petition. SECTION 2. RESPONSE TO RECOGNITION PETITION Upon receipt of the Petition, the Employee Relations Officer shall determine whether: a. There has been compliance with the requirements of a Recognition Petition; and, 6 b. The proposed representation unit is an appropriate unit in accordance with Section 6 of Article II. If an affirmative determination is made by the Employee Relations Officer on the foregoing two matters, he or she shall post a notice of election setting an election date not less than forty-five (45) days and not more than sixty (60) days after such determination. If either of the foregoing matters are not affirmatively determined, the Employee Relations Officer shall provide written notice to the petitioning employee organization. The petitioning employee organization may either resubmit an amended petition or appeal the determination of the Employee Relations Officer pursuant to Article II, Section 8 of this Resolution. SECTION 3. OPEN PERIOD FOR FILING CHALLENGING PETITION Within thirty (30) days of the date the notice of election is posted, any other employee organization may file a request to be the EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION of employees in the same unit by filing a petition which conforms to Section 1 of Article II. SECTION 4. ELECTION PROCEDURE a. The Employee Relations Officer shall arrange for a secret ballot election to be conducted by the California State Mediation and Conciliation Service or by a mutually selected third party subject to the provisions of this Resolution. In the event the State Mediation and Conciliation Service, or other mutually selected third party, if any, declines or is unable to conduct the election in a timely fashion, the election shall be conducted by the Secretary to the Board of Directors in accordance with the election procedures specified in this Resolution. All employee organizations who have duly submitted petitions which have been determined to be in conformance with Section 1 of Article II shall be included in the ballot. The ballot shall also reserve to employees the choice of no representative. Regular and temporary employees employed in positions within the designated appropriate unit who were so employed during the pay period which ended at least fifteen (15) days before the date the election commences, shall be entitled to vote in a representation election. Regular and temporary employees who did not work during such period because of illness, vacation or other authorized leaves of absence, and who are employed by the District in the same unit on the date of the election shall also be eligible to vote in a representation election. An employee organization shall be formally acknowledged as the EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION for the designated appropriate unit following an election or run- off election if it received a majority of all valid votes cast in the election. In an election involving three or more choices, where none of the choices receives a majority of the valid votes cast, a run-off election shall be conducted between the 7 two choices receiving the largest number of valid votes cast. The rules governing an initial election shall be applicable to a run-off election. b. Within 30 days prior to an election, the District's Employee Relations Officer will present to the agency conducting the election, and the applicable employee organization(s), a list of eligible voters in the appropriate unit for which the employee organization(s) has made a satisfactory showing of interest. The eligibility list will be kept current by the District during the month before the election and a revised eligibility list will be presented to the applicable employee organization(s) and the agency conducting the election on the day(s) of the election. Either the District or the employee organization or organizations participating in the election may challenge any name on the list of eligible voters, including the revised list, at any time, up to and including the day(s) of the election. No challenges to the eligibility list may be made after the election has concluded. The agency conducting the election shall determine who is an eligible employee and its decision shall be final and binding. c. Election ballots shall offer eligible employees a choice between representation by the employee organization or organizations involved, on the one hand, and no organization, on the other. The ballot question shall read as follows: "Do you want [insert name of employee organization] to act as your exclusive representative: Yes__ No __ ." The question will be repeated where more than one employee organization will be on the ballot. The question will be followed by the question, "Do you want no organization? Yes __ No __ " d. There shall be no more than one representation election under this Resolution for each designated appropriate unit, excluding run-off elections, in a 12-month period. e. Costs of conducting elections under this Section shall be borne in equal shares by District and by each of the employee organizations appearing on the ballot. f. The election will be held on the District's premises at a time and on the date selected by the Employee Relations Officer for the election, or by mail ballots, in the discretion of the Employee Relations Officer. Notwithstanding the foregoing, the Employee Relations Officer and petitioning employee organization may agree to a different election date so long as it is consistent with the employees' rights to choose their representative and there is a reasonable basis for such stipulation. g. The agency conducting the election shall also be responsible for maintaining the voting site, the ballot box and tallying the votes at the conclusion of the election day( s ). The conducting agency shall certify the results of the election to both parties as soon as it has counted the ballots. h. If it is determined that an Employee Organization has received affirmative votes from a majority of the eligible employees casting ballots in an appropriate unit, 8 the Employee Relations Officer shall so report to the District's Board of Directors at its next regularly scheduled meeting. Upon receiving such a report, the Board of Directors shall certify the employee organization as the Exclusive Representative for the unit in which the election was held. Once such certification is given, it may only be withdrawn if the Exclusive Representative subsequently loses a decertification election or if the District has a good faith belief that the Exclusive Representative no longer enjoys majority support from eligible employees in the unit in question. SECTIONS. PROCEDURE FOR DECERTIFICATION OF EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION a. A decertification petition alleging that the incumbent EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION no longer represents a majority of the employees in an established unit may be filed with the Employee Relations Officer. A decertification petition may not be filed within one (1) year after a valid election in which the challenged EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION appeared on the ballot, whether for decertification or certification. A decertification petition may not be filed during the term of a valid Memorandum of Understanding except during the open period preceding the expiration of a Memorandum of Understanding. The open period shall be the thirty (30) day period commencing one hundred fifty (150) days and ending one hundred twenty ( 120) days prior to the expiration of a Memorandum of Understanding. A decertification petition may be filed after a valid Memorandum of Understanding has expired. A valid Memorandum of Understanding shall not serve as a bar to the filing of a decertification petition for more than a three-year period. A decertification petition may be filed by an employee or an employee organization(s), shall be accompanied by proof of employee support, and shall conform to the extent possible to the requirements for a petition for recognition under Section 1 of Article II. b. The Employee Relations Officer shall initially determine whether the decertification petition has been filed in accordance with the applicable provisions of this Resolution. If, in the judgment of the Employee Relations Officer, the decertification petition does not meet the requirements set forth in this Resolution, the Employee Relations Officer shall provide written notice to the petitioning employee( s) or employee organization. The petitioning employee( s) or employee organization may either resubmit an amended petition for decertification or may appeal the determination of the Employee Relations Officer pursuant to Article II, Section 8 of this Resolution. If the decertification petition satisfies the requirements of this Resolution, the Employee Relations Officer shall so advise the petitioning employee(s) or employee organization and shall give written notice of the petition to the challenged EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION. 9 c. If a decertification petition satisfying the requirements of this Resolution is filed, the Employee Relations Officer shall post notice of election to occur on or about thirty (30) days after notice of the decertification petition is given pursuant to subparagraph (b) hereof, to determine the wishes of unit employees as to representation. A decertification election shall be conducted by secret ballot. The ballot shall offer employees eligible to vote the choice of no representation. Only those regular employees eligible to vote for the certification of an employee organization shall be eligible to vote in a decertification election. If the challenged incumbent EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION does not receive affirmative votes from a majority of the eligible employees voting, that employee organization shall be decertified, and the unit shall not be represented by an employee organization until such time as a new exclusive employee organization is recognized pursuant to this Resolution. d. A petition for decertification of an incumbent EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION may be combined with a petition for certification of a new EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION. A decertification election held pursuant to this Section may be combined with an election for certification of a new EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION held pursuant to Article II Section 4. However, no new exclusive employee organization may be recognized to represent an appropriately designated employee unit unless, by majority vote, the regular employees who vote in said unit, vote to decertify the incumbent EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION. If, pursuant to this Section, a different employee organization is formally certified as the EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION, such organization shall be bound by the terms and conditions of any Memorandum of Understanding then in effect for its remaining term. SECTION 6. POLICY AND STANDARDS FOR DETERMINATION OF APPROPRIATE UNITS a. The policy objectives in determining the appropriateness of a unit shall be the effect of a proposed unit on (1) the efficient operations of the District and its compatibility with the primary responsibility of the District and its employees to effectively and economically serve the public, and (2) providing employees with effective representation based on recognized community of interest considerations. These policy objectives require that the appropriate unit shall be the broadest feasible grouping of positions that share an identifiable community of interest. Factors to be considered shall be: 1. Similarity of the general kinds of work performed, types of qualifications required, and the general working conditions; 2. History of representation in the District and similar employment; except, however, that no unit shall be deemed to be an appropriate unit solely on 10 the basis of the extent to which employees in the proposed unit have organized; 3. Consistency with the organizational patterns of the District; 4. Number of employees and classifications, and the effect on the administration of employer-employee relations created by the fragmentation of classifications and proliferation of units; 5. Effect on the classification structures and impact on the stability of the employer-employee relationship of dividing a single or related classification( s) among two or more units. · b. Further, it is presumed that all non-management employees in all classifications constitute an appropriate unit except for the following: 1. Temporary and contract employees who are hired for a specific duration might not be included in an appropriate unit of full-time and part-time regular employees; and 2. Except to the extent that they are management, supervisory or confidential employees, professional employees may be permitted to vote by classification whether or not they wish to be represented in a unit that includes non-professional employees; professional employees that vote by a majority for inclusion in a unit including non-professional employees shall be so included. c. Notwithstanding the foregoing provisions of this Section, managerial, supervisory and confidential responsibilities, as defined in Section 2 of Article I, are determining factors in establishing appropriate units, and such managerial, supervisory and confidential employees may only be included in units that do not include non-managerial, non-supervisory and non-confidential employees. Managerial, supervisory and confidential employees may not represent any employee organization which represents other employees. d. Notwithstanding any other provision of this Resolution, the Employee Relations Officer, after notice to affected employee organizations, may allocate new classifications or positions, delete eliminated classifications or positions, and retain, reallocate or delete modified classifications or positions from units in order to conform with the policy objectives of this Section. 11 • SECTION 7. PROCEDURE FOR MODIFICATION OF ESTABLISHED APPROPRIATE UNITS a. Requests by employee organizations for modification of established units represented by an EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION may be considered by the Employee Relations Officer only during the open period specified in Section 5 of Article II, after a Memorandum of Understanding has expired or when such action is deemed consistent with the purposes of this Resolution. Modification requests shall be submitted in the form of a recognition petition and, in addition to the requirements set forth in Section 1 of Article II shall contain a complete statement of all relevant facts and citations in support of the proposed modified unit in terms of the policies and standards contained in Section 6 of Article II. b. The Employee Relations Officer may on his or her own initiative propose that an established unit be modified at any time during which an employee organization is permitted to make such a request. The Employee Relations Officer shall give written notice of the proposed modifications to an affected employee organization and shall hold a meeting concerning the proposed modifications, at which time all affected employee organizations shall be heard. The Employee Relations Officer shall determine the composition of the appropriate unit or units in accordance with Section 6 of Article II and shall give written notice of such determination to the affected employee organizations. The determination of the unit placement of a new classification may be made without regard to the open period specified in Section 5 of Article II. The Employee Relations Officer's determination may be appealed as provided in Section 8 of Article II. SECTION 8. APPEALS FROM RULINGS OF THE EMPLOYEE RELATIONS OFFICER a. An employee organization aggrieved by a determination of the Employee Relations Officer relating to the specific provisions of this Resolution may, within fifteen (15) days of notice of such determination, appeal the determination to the General Manager. b. Appeals to the General Manager shall be filed in writing with the District's Secretary and a copy served on the General Manager and the Employee Relations Officer. The General Manager shall begin to consider the matter within thirty (30) days of the filing of the appeal. The General Manager may, in his or her discretion, refer the dispute to a third party for a hearing and advisory recommendation. The decision of the General Manager on the use of such procedure, and the decision of the General Manager on the resolution of the dispute shall be final and no further administrative appeal shall be allowed. 12 SECTION 1. ARTICLE Ill. ADMINISTRATION SUBMISSION OF CURRENT INFORMATION BY RECOGNIZED EMPLOYEE ORGANIZATIONS a. All changes in the information filed with the District by an EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION under items (a) through (g) of the recognition petition under Section 1 of Article II shall be submitted in writing to the Employee Relations Officer within fourteen (14) days of such change. b. The District shall allow a reasonable number of employee representatives of an EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION reasonable time off without loss of compensation or other benefits when formally meeting and conferring with representatives of the District on matters within the scope of representation. SECTION 2. ADMINISTRATIVE RULES AND PROCEDURES If the meet and confer process has reached impasse as defined in this Resolution, either party may initiate the impasse procedures by filing with the other party a written request for an impasse meeting. The impasse request shall contain a statement of the parties' position on all issues. An impasse meeting shall be scheduled promptly by the Employee Relations Officer. The purpose of such meeting shall be: a. To review the position of the parties in a final effort to reach agreement on a Memorandum of Understanding; and, b. If the impasse is not resolved, to discuss arrangements for the utilization of the impasse procedures provided herein. SECTION 3. IMPASSE PROCEDURES Impasse procedures are as follows: a. If the parties agree to submit the dispute to mediation, and agree on the selection of a mediator, the dispute shall be submitted to mediation. The mediation proceedings shall be private. The mediator shall make no public recommendations, nor take any public position at any time concerning the issues. If the parties agree upon mediation, all costs of mediation shall be borne in equal shares by District and by each EXCLUSIVELY RECOGNIZED EMPLOYEE ORGANIZATION participating in the mediation. b. If the parties do not agree on mediation or the selection of a mediator, or having so agreed, the impasse has not been resolved, and unless prohibited by law, all issues shall be submitted to the District's Board of Directors for its determination and such action as it, in its discretion, deems to be appropriate in the public 13 interest. The action by the District's Board of Directors shall be final and conclusive. SECTION 1. ARTICLE V. MISCELLANEOUS PROVISIONS CONSTRUCTION This Resolution shall be administered and construed as follows: a. Nothing in this Resolution shall be construed to deny to any person, employee, organization, the District or any officer or other representative of the District, the rights, powers and authority granted by Federal or State law. b. This Resolution shall be interpreted so as to carry out its purposes as set forth in Article I. SECTION 2. REPEAL OF PRIOR RESOLUTIONS The provisions of this Resolution shall supersede and take precedence over the provisions of any prior Resolutions, minute orders or statements of policy, by the District's Board of Directors dealing with the same subjects and matters as are covered herein, including, but not limited to Resolution No. 98-34. SECTION 3. SEVERABILITY If any provision of this Resolution, or the application of such provision to any persons or circumstances, shall be held invalid, the remainder of this Resolution, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected. SECTION 4. CERTIFICATION The Secretary of the Board of Directors is hereby directed to certify to the passage of this Resolution and thereupon and thereafter the same shall be in full force and effect. SECTION 5. GRANDFATHER CLAUSE District recognizes that the following employee organizations have been elected pursuant to majority vote of the employees in and for the fallowing units: 14 Orange County Employees Association International Union of Operating Engineers, Local 501 Supervisory and Professional Management Group -Administrative and Clerical Unit -Technical Services Unit -Engineering Unit -Operations, Maintenance and General Services Unit -Supervisory Management Unit -Professional Unit District grants Exclusive Recognition to such employee organizations for said units until such status is changed pursuant to this Resolution. PASSED AND ADOPTED at a regular meeting held this day of ____ , 19 __ Chairman, Board of Directors Secretary, Board of Directors 15