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HomeMy WebLinkAbout1999-12-08.. , FILE-0 IN THE OF'~iCE c,c THE SECRETARY ORANGE cou1n\ :::,.;IIJITAT!ON DISTRICT MINUTES OF FINANCE. ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING JAN 2 6 2000 IK Orange County Sanitation District Wednesday, December 8, 1999, 5:00 p.m. BY A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on December 8, 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: Directors Present: Thomas Saltarelli, Chair Mark Leyes, Vice Chair Shawn Boyd John M. Gullixson Shirley McCracken James W. Silva Jan Debay, Board Chair Peer Swan, Board Vice Chair John J. Collins, Past Board Chair OTHERS PRESENT: Tom Woodruff, General Counsel Don Hughes Ryal Wheeler (2) APPOINTMENT OF CHAIR PRO TEM No appointment was necessary. (3) PUBLIC COMMENTS There were no public comments. Directors Absent: Mark A. Murphy STAFF PRESENT: Don McIntyre, General Manager Blake Anderson, Assistant General Manager Lisa Tomko, Acting Director of Human Resources Gary Streed, Director of Finance Robert Ghirelli, Director of Technical Services Patrick Miles, Director of Information Technology Mike White, Controller Steve Kozak, Financial Manager Judy Bucher, Human Resources Analyst Penny Kyle, Committee Secretary Minutes of the Finance, Administration and Human Resources Committee Meeting Page2 December 8, 1999 (4) RECEIVE, FILE AND APPROVE MINUTES OF PREVIOUS MEETING It was moved, seconded and duly carried to approve the minutes of the November 10, 1999 Finance, Administration and Human Resources Committee meeting. (5) REPORT OF THE COMMITTEE CHAIR The Committee Chair reminded the Directors that the next Finance, Administration and Human Resources Committee meeting would be held on February 9, 2000 at 5:00 p.m. Director Saltarelli then reported that the Ad Hoc Committee re Sewer Service User Fee meeting, held prior to the FAHR meeting on December 8, 1999, was recommending the Board to consider adopting a policy offering refunds including interest to the vested property owners not connected to the sewerage system for sewer service user fees previously paid. (6) REPORT OF THE GENERAL MANAGER The General Manager had no report. (7) REPORT OF ASSISTANT GENERAL MANAGER The Assistant General Manager reported that requests have been received from two developers, The Irvine Company for the Newport Coast development and Hearthside Homes for the Bolsa Chica development, to divert dry weather urban runoff. There are public health reasons and environmental benefits to capture and treat the runoff from these areas but the policy of accepting dry weather urban runoff must be balanced with the need to maintain the long-term reliability of the treatment facilities. This issue will be further discussed by the Steering Committee on December 15th• (8) REPORT OF DIRECTOR OF FINANCE The Director of Finance had no report. (9) REPORT OF DIRECTOR OF HUMAN RESOURCES The Acting Director of Human Resources had no report. (10) REPORT OF DIRECTOR OF COMMUNICATIONS The Director of Communications was not present. (11) REPORT OF GENERAL COUNSEL General Counsel briefly reported on the OCIP bankruptcy issue and the remaining funds that are to be distributed. Minutes of the Finance, Administration and Human Resources Committee Meeting Page3 December 8, 1999 (12) CONSENT CALENDAR ITEMS (Items a-d) a. FAHR99-91: Receive and file Treasurer's Report for the month of November 1999: The Treasurer's Report was handed out at the FAHR Committee meeting in accordance with the Board-approved Investment Policy, and in conformance with the Government Code requirement to have monthly reports reviewed within 30 days of month end. b. FAHR99-92: Receive and file Certificate of Participation (COP) Monthly Report. c. FAHR99-93: Receive and file Employment Status Report as of November 17, 1999. d. FAHR99-94: Receive and file Quarterly Investment Management Program Report for the period July 1, 1999 through September 30, 1999. Motion: END OF CONSENT CALENDAR Moved, seconded and duly carried to approve the recommended actions for items specified as 12(a) through (d) under Consent Calendar. (13) ACTION ITEMS (Items a-e) a. FAHR99-95: Consideration of 2000-01 Budget Assumptions, Fiscal Policies, and Calendar. Mike White, Controller, reviewed the proposed budget assumptions, policies and calendar. Motion: Moved, seconded and duly carried to have this item brought back to the next meeting of the FAHR Committee. b. FAHR99-96: Authorize staff to retain Moreland & Associates to conduct the independent audit of the District's annual financial statements for an additional three-year period, for an amount not to exceed $42,600 for FY 99/00, $44,300 for FY 00/01, and $46,000 for FY 01/02. Following discussion among the Directors, the motion was amended to authorize staff to solicit bids from certified public accounting firms to include Moreland and Associates, for a three year period with two one-year extension options at the District's discretion. Motion: Moved, seconded and duly carried to approve amended recommendation. c. FAHR99-97: Approve an agreement with California Public Employees' Retirement System (CalPERS) authorizing actuarial valuation to determine contribution costs to District if the District were to enter into an agreement with Cal PERS, for an amount not to exceed $1,400. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 2 December 8, 1999 (4) RECEIVE, FILE AND APPROVE MINUTES OF PREVIOUS MEETING It was moved, seconded and duly carried to approve the minutes of the November 10, 1999 Finance, Administration and Human Resources Committee meeting. (5) REPORT OF THE COMMITTEE CHAIR The Committee Chair reminded the Directors that the next Finance, Administration and Human Resources Committee meeting would be held on February 9, 2000 at 5:00 p.m. Director Saltarelli then reported that the Ad Hoc Committee re Sewer Service User Fee meeting, held prior to the FAHR meeting on December 8, 1999, was recommending the Board to consider adopting a policy offering refunds including interest to the vested property owners not connected to the sewerage system for sewer service user fees previously paid. (6) REPORT OF THE GENERAL MANAGER The General Manager had no report. (7) REPORT OF ASSISTANT GENERAL MANAGER The Assistant General Manager reported that requests have been received from two developers, The Irvine Company for the Newport Coast development and Hearthside Homes for the Balsa Chica development, to divert dry weather urban runoff. There are public health reasons and environmental benefits to capture and treat the runoff from these areas but the policy of accepting dry weather urban runoff must be balanced with the need to maintain the long-term reliability of the treatment facilities. This issue will be further discussed by the Steering Committee on December 15th• (8) REPORT OF DIRECTOR OF FINANCE The Director of Finance had no report. (9) REPORT OF DIRECTOR OF HUMAN RESOURCES The Acting Director of Human Resources had no report. (10) REPORT OF DIRECTOR OF COMMUNICATIONS The Director of Communications was not present. (11) REPORT OF GENERAL COUNSEL General Counsel briefly reported on the OCIP bankruptcy issue and the remaining funds that are to be distributed. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 December 8, 1999 (12) CONSENT CALENDAR ITEMS (Items a-d) a. FAHR99-91: Receive and file Treasurer's Report for the month of November 1999: The Treasurer's Report was handed out at the FAHR Committee meeting in accordance with the Board-approved Investment Policy, and in conformance with the Government Code requirement to have monthly reports reviewed within 30 days of month end. b. FAHR99-92: Receive and file Certificate of Participation (COP) Monthly Report. c. FAHR99-93: Receive and file Employment Status Report as of November 17, 1999. d. FAHR99-94: Receive and file Quarterly Investment Management Program Report for the period July 1, 1999 through September 30, 1999. Motion: END OF CONSENT CALENDAR Moved, seconded and duly carried to approve the recommended actions for items specified as 12(a) through (d) under Consent Calendar. (13) ACTION ITEMS (Items a-e) a. FAHR99-95: Consideration of 2000-01 Budget Assumptions, Fiscal Policies, and Calendar. Mike White, Controller, reviewed the proposed budget assumptions, policies and calendar. Motion: Moved, seconded and duly carried to have this item brought back to the next meeting of the FAHR Committee. b. FAHR99-96: Authorize staff to retain Moreland & Associates to conduct the independent audit of the District's annual financial statements for an additional three-year period, for an amount not to exceed $42,600 for FY 99/00, $44,300 for FY 00/01, and $46,000 for FY 01/02. Following discussion among the Directors, the motion was amended to authorize staff to solicit bids from certified public accounting firms to include Moreland and Associates, for a three year period with two one-year extension options at the District's discretion. Motion: Moved, seconded and duly carried to approve amended recommendation. c. FAHR99-97: Approve an agreement with California Public Employees' Retirement System (CalPERS) authorizing actuarial valuation to determine contribution costs to District if the District were to enter into an agreement with Cal PERS, for an amount not to exceed $1,400. .. FAHR COMMITTEE Meeting Date ToJt. Bds. 12/08/99 12/15/99 AGENDA REPORT Item Number Item Number FAHR99-91 Orange County Sanitation District FROM: SUBJECT: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager TREASURER'S REPORT FOR THE MONTH OF NOVEMBER 1999 GENERAL MANAGER'S RECOMMENDATION Receive and file Treasurer's Report for the month of November 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 Aliquid Operating Monies= and for the Along-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 current market values are shown as estimated by both PIMCO and Mellon Trust. The District's portfolios are priced to market ("mark-to- market") as of the last day of each reporting period. The slight differences in value are related to minor variations in pricing assumptions by the valuation sources 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) H:lwp.dta\agenda\FAHR\Fahl99\99al\FAHR99-91.doc Revised: 10117197 Page 1 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 30 November 1999) Liquid Operating Monies (603) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • PIMCO • Mellon Historical. Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST RA TE 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: Commentary $19,286,268 $19,244,003 $19,285,692 $19,280,617 0.15 0.20 $29,187 0% 72% "AAA" 0% Yes Portfolio 0.42 1.34 5.05 4.61 • Interest rates rose across all maturities in November in response to the 25 basis point Fed Funds rate increase on November I 6th (e.g. 3-month Treasury Bill rates rose 2 I ba!)is poinl.'i). • The Liquid portfolio outperformed its benchmark by 2 basis points in November. • PIMCO's emphasis on corporates and agencies added to portfolio returns. • PIMCO will continue to hold high quality commercial paper and short-term notes to enhance returns. H:l . \FINANCE\ .. \REVISED LIQ! 199.RPT Index 0.40 1.20 4.67 4.28 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 30 November 1999) Long-Term Operating Monies (203) 15.1.l PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • PIMCO • Mellon Historical Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.l.3 l % INTEREST RA TE CHANGE Dollar Impact (gain/loss) of 1 % Change: 15.l.4 REVERSE REPOS % of Portfolio in Reverse Repos: ( see attached schedule) 15.l.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.l.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.l.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.l.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: l Month: 3 Months: 12 Months: Year-to-Date: Commentary • With interest rates rising across all maturities again in November, the bond market continued to show weaker returns. • The Long-Tenn portfolio outperformed its benchmark by 14 basis points in November. • PIMCO's emphasis on mortgage-backed securities, agencies, and corporates added to portfolio returns, as these were the best performing sectors. • PIMCO will continue to emphasize mortgage-backed securities to enhance returns. H:I. .. \FINANCE,2 JO\ ... \REVISED L-TI 199.RPT $269,332,804 $269,315,570 $273,517,481 $274,018,117 2.25 2.37 $6,141,799 0% 31% "AAA" 0% Yes Portfolio Index 0.30 0.16 1.57 1.21 2.74 2.55 2.33 2.17 @ • ORANGE COUNTY SANITATION DISTRICT PAGE: 1 BASE: USD NET ASSET SECTOR SUMMARY OCSF07511102 30-NOV-1999 FINAL LIQUID OPER-PIMCO %OF UNREALIZED PORTFOLIO DISTRIBUTION COST MARKET VALUE TOTAL GAIN/LOSS CASH & CASH EQUIVALENTS UNITED STATES COMMERCIAL PAPER -DISCOUNT 2,688,423.92 2,688,423.92 13.82% 0.00 TREASURY BILLS -LESS THN 1 YR 3,411,181.67 3,411,181.67 17.53% 0.00 FEDERAL HOME LOAN MORTGAGE -LESS 2,486,396.11 2,486,396.11 12.78% 0.00 FNMA ISSUES -LESS THN I YR 1,688,510.11 1,688,510.11 8.68% 0.00 MUTUAL FUNDS 92,461.43 92,461.43 0.48% 0.00 TOTAL UNITED STATES 10,366,973.24 10,366,973.24 53.28% 0.00 TOTAL CASH & CASH EQUIVALENTS 10,366,973.24 10,366,973.24 53.28% 0.00 FIXED INCOME SECURITIES UNITED ST A TES U.S. AGENCIES 4,688,174.00 4,692,574.00 24.12% 4,400.00 ABS: CAR LOAN 905,913.00 905,580.00 4.65% -333.00 BANKING & FINANCE 1,949,359.25 1,924,170.75 9.89% -25,188.50 INDUSTRIAL 1,370,198.00 1,354,705.00 6.96% -15,493.00 TOT AL UNITED ST A TES 8,913,644.25 8,877,029.75 45.63% -36,614.50 TOTAL FIXED INCOME SECURITIES 8,913,644.25 8,877,029.75 45.63% -36,614.50 OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES 212,274.92 212,274.92 1.09% 0.00 TOTAL 212,274.92 212,274.92 1.09% 0.00 TOTAL OTHER PORTFOLIO ASSETS 212,274.92 212,274.92 1.09% 0.00 NET PORTFOLIO ASSETS 19,492,892.41 19,456,277.91 100.00% -36,614.50 07-Dec-1999 11:19:34 Executive Workbench • @ ORANGE COUNTY SANITATION DISTRICT PAGE: 1 BASE: USD NET ASSET SECTOR SUMMARY OCSF07522202 30-NOV-1999 FINAL LONG TERM OPER-PIMCO %OF UNREALIZED PORTFOLIO DISTRIBUTION COST MARKET VALUE TOTAL GAIN/LOSS CASH & CASH EQUIVALENTS CASH 7,607.46 7,607.46 0.00% 0.00 RECEIVABLES 53,826.27 53,826.27 0.02% 0.00 PAYABLES -26,790,634.38 -26,790,634.38 -9.82% 0.00 TOTAL -26,729,200.65 -26, 729,200.65 -9.79% 0.00 UNITED ST A TES COMMERCIAL PAPER-DISCOUNT 20,706,522.37 20,706,522.37 7.59% 0.00 FEDERAL HOME LOAN MORTGAGE -LESS 7,165,614.00 7,165,614.00 2.63% 0.00 MUTUAL FUNDS 13,012,927.85 13,012,927.85 4.77% 0.00 TOT AL UNITED STA TES 40,885,064.22 40,885,064.22 14.98% 0.00 TOTAL CASH & CASH EQUIVALENTS 14,155,863.57 14,155,863.57 5.19% 0.00 FIXED INCOME SECURITIES UNITED STATES U.S. GOVERNMENTS 66,410,142.33 64,638,698.04 23.68% -1,771,444.29 U.S. AGENCIES 66,510,402.41 65,408,679.15 23.97% -1,101,723.26 GNMA SINGLE FAMILY POOLS 20,256,875.00 20,431,665.00 7.49% 174,790.00 GNMA MULTI FAMILY POOLS 3,827,614.21 3,796,652.35 1.39% -30,961.86 FHLMCPOOLS 9,277,150.99 9,115,425.99 3.34% -161,725.00 FHLMC MULTICLASS 8,347,102.86 8,223,852.83 3.01% -123,250.03 FNMA POOLS 970,358.64 973,917.40 0.36% 3,558.76 ASSET BACKED SECURITIES 78,602.22 78,552.71 0.03% -49.51 ABS: HOME EQUITY 465,766.73 464,746.70 0.17% -1,020.03 MUTUAL FUNDS 1,000,000.00 988,540.00 0.36% -11,460.00 BANKING & FINANCE 56,039,764.00 55,770,806.00 20.43% -268,958.00 INDUSTRIAL 17,029,969.00 15,922,340.60 5.83% -1,107,628.40 UTILITY -ELECTRIC 2,151,250.00 1,958,180.00 0.72% -193,070.00 UTILITY -TELEPHONE 7,497,255.00 7,387,650.00 2.71% -109,605.00 TOT AL UNITED STATES 259,862,253.39 255,159,706.77 93.49% -4, 702,546.62 TOTAL FIXED INCOME SECURITIES 259,862,253.39 255,159,706.77 93.49% -4, 702,546.62 07-Dec-1999 11:21:41 Executive Workbench YLDANAL YIELD ANALYSIS PAGE 1 OCSF07511102 1999/11/30 RUN DATE 12/03/99 DISTRICT: LIQUID OPERATING RUN TIME 13.08.19 --------------------------------------------------------------------===------=======--=================-----=-=-------------- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ----------------------------------------------------------------------------------------------- CASH & CASH EQUIVALENTS 92,461.43 DREYFUS TREASURY CASH MGMT .ooo 5.341 AAA 100.000 92,461.43 .89 996085247 AAA 92,461.43 .48 3,500,000.00 u s TREASURY BILLS 5.094 .ooo P-1 97.462 3,411,181.67 32.90 912795DK4 03/02/2000 DD 03/04/99 A-1+ 3,411,181.67 17.73 000,000.00 FEDERAL NATL MTG ASSN DISC 5.239 .ooo P-1 99.249 793,991.11 7.65 313588QQ1 MAT 12/17/1999 A-1+ 793,991.11 4. 13 900,000.00 FEDERAL NATL MTG ASSN DISC 5.252 .000 P-1 99.391 894,519.00 8.62 313588QN8 MAT 12/15/1999 A-1+ 894,519.00 4.65 903,000.00 NIKE INC DISC 5.326 .ooo 99.514 898,612.92 8.66 6541D3Z66 12/06/1999 898,612.92 4.67 900,000.00 NATIONAL RURAL DISC 5.338 .ooo P-1 99.293 893,640.00 8.62 63743DZ87 12/08/1999 893,640.00 4.64 2,500,000.00 FEDERAL HOME LN MTG CORP DISC 5.471 .000 P-1 99.456 2,486,396.11 23.98 313396QH9 MAT 12/10/1999 A-1+ 2,486,396.11 12.92 900,000.00 GENERAL ELEC CAP DISC 5.493 .000 P-1 99.575 896,171.00 8.64 36959JZF3 12/15/1999 896,171.00 4.66 ----------------------- TOTAL CASH & CASH EQUIVALENTS 5.123 .086 10,366,973.24 100.00 10,366,973.24 53.88 FIXED INCOME SECURITIES 1,000,000.00 FEDERAL HOME LN MTG CORP DEBS .ooo 4.707 AAA 99.953 999,200.00 11. 25 3134A3RT5 FLTG RT 05/18/2000 DD 05/18/99 AAA 999,530.00 5.19 900,000.00 GENERAL MTRS ACCEP CORP MTN .ooo 6.253 A2 99.959 909,657.00 10.13 37042M7G2 6.250% 01/11/2000 DD 01/11/94 A 899,631.00 4.67 850,000.00 PHILLIP MORRIS co INC NTS 5 .258 7.125 A2 100.000 863,753.00 9.57 718154BX4 7.125% 12/01/1999 DD 12/01/92 A 850,000.00 4.42 500,000.00 TRANSAMERICA FIN MTN tSBOOllO 5.653 8.436 A3 100.171 515,125.00 5.64 89350MEP1 8.450% 01/12/2000 DD 01/12/95 A 500,855.00 2.60 YLDANAL OCSF07511102 DISTRICT: LIQUID OPERATING PAR VALUE SECURITY ID SECURITY DESCRIPTION 3,700,000.00 FEDERAL HOME LN BK CONS BOS 3133M7EW2 4.835% 01/28/2000 DD 01/28/99 900,000,00 FORD MTR CR MTN I TR 00538 345402YK1 7.020% 10/10/2000 DD 10/10/95 400,000.00 LEHMAN BROS HLDGS MTN TR 00252 52517PLM1 6.400% 08/30/2000 DD 09/26/97 500,000.00 INTERNATIONAL PAPER co NT 460146AJ2 9.700% 03/15/2000 DD 03/21/90 125,000.00 FINOVA CAP CORP 318074AF8 6.375% 10/15/2000 DD 10/11/95 TOTAL FIXED INCOME SECURITIES TOTAL YTH AT BOOK ------ 5.815 6.312 6.353 6,535 6.924 ------- 3.905 -------- 4.492 YIELD ANALYSIS 1999/11/30 CURRENT MOODY YIELD S-P -------------- 4.844 AAA AAA 6.977 Al A 6,413 A3 A 9.610 A3 BBB+ 6.401 BAAl A- ------- 5.810 ------- 3.055 PAGE 2 RUN DATE 12/03/99 RUN TIME 13.08.19 MARKET TOTAL COST/ % TYPE PRICE MARKET VALUE % TOTAL ----------------~------ 99 .812 3,688,974.00 41. 60 3,693,044.00 19 .19 100.620 905,913.00 10.20 905,580.00 4.71 99.799 400,216.00 4 .49 399,196.00 2.07 100,941 506,445,00 5.68 504,705.00 2.62 99.591 124,361.25 1.40 124,488.75 .65 -------------------- 8,913,644 .25 100.00 8,877,029.75 46.12 ---------------------- 19,280,617.49 100.00 19,244,002.99 100.00 -----------=-===---= YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING PAR VALUE SECURITY ID SECURITY DESCRIPTION CASH & CASH EQUIVALENTS 13,012,927.85 DREYFUS TREASURY CASH MGMT 996085247 7,200,000.00 FEDERAL HOME LN MTG CORP DISC 313396QE6 MAT 12/07/1999 6,400,000.00 ALUMINUM CO AMER DISC 02225BZ37 12/03/1999 500,000.00 HEINZ HJ CO DISC 42307KZ18 12/01/1999 5,400,000.00 NATIONAL RURAL DISC 63743DZ87 12/08/1999 800,000.00 PROCTER & GAMBLE DISC 74271SZDO 12/13/1999 7,700,000.00 PROCTER & GAMBLE DISC 74271SZA6 12/10/1999 TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES 2,000,000.00 066365DW4 730,000.00 11F0116C6 3,500,000.00 17120QE80 2,000,000.00 345397RV7 2,000,000.00 345397SC8 BANKERS TR NY CORP GLOBAL NT FLTG RT 05/11/2003 DD 05/11/98 COMMIT TO PUR FNMA 11TH DIST VAR RT 12/25/2028 CHRYSLER FINL LLC MTN ITR00615 FLTG RT 08/08/2002 DD 04/08/98 FORD MTR CR CO GLOBAL NTS FLTG RT 02/13/2003 DD 02/13/98 FORD MTR CR CO TERM ENHANCED FLTG RT 08/27/2006 DD 08/27/98 YTM AT BOOK .ooo 5,235 5.289 5.308 5.341 5.372 5.469 2,797 .000 .000 .000 .000 .ooo YIELD ANALYSIS 1999/11/30 CURRENT MOODY MARKET YIELD S-P PRICE 5,341 .000 .ooo .ooo .ooo .ooo .ooo 2,517 5.802 6 .109 5.555 6.226 6.217 AAA AAA P-1 A-1+ P-1 P-1 P-1 P-1 P-1 Al A- AAA AAA Al A+ Al A Al A 100.000 99.522 99.634 99.472 99.308 99.599 99.652 99.892 100.840 99.859 99,500 99.828 PAGE RUN DATE RUN TIME TOTAL COST/ MARKET VALUE 13,012,927.85 13,012,927.85 7,165,614.00 7,165,614.00 6,376,577.78 6,376,577.78 497,360.00 497,360.00 5,362,605.56 5,362,605.56 796,790.00 796,790.00 7,673,189.03 7,673,189.03 40,885,064.22 40,885,064.22 1,992,800.00 1,997,840.00 715,400.00 736,132,00 3,498,635.00 3,495,065.00 1,992,580.00 1,990,000.00 1,998,613.60 1,996,560.00 3 12/03/99 13.08.19 % TYPE % TOTAL 31.82 4.40 17.52 2.42 15.59 2.15 1. 21 .17 13.11 1. 81 1.94 .27 18.76 2.59 100.00 13.81 • 7 8 .67 .28 .25 1.36 1.18 .77 .67 .78 .67 YLDANAL YIELD ANALYSIS PAGE 4 OCSF07522202 1999/11/30 RUN DATE 12/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 13.08.19 =========== -- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -------------------------------------------------------------------------~----------·---- 3,000,000.00 GENERAL MTRS ACCEP MTN .ooo 5 .578 A2 100,312 3,010,830.00 1.17 37042WVR9 FLTG RT 12/17/2001 DD 12/15/98 A 3,009,360.00 1.02 3,950,000.00 GENERAL MTRS ACCEP CORP NTS .ooo 5,568 A2 99,988 3,918,768.50 1.54 370425QV5 FLTG RT 08/18/2003 DD 08/17/98 A 3,949,526.00 1.33 2,000,000.00 HELLER FINANCIAL INC NTS .ooo 5,450 A3 100.510 2,000,000.00 .78 423328BK8 FLTG RT 06/25/2001 DD 06/25/99 A-2,010,200.00 .68 3,000,000.00 HELLER FINL MTN ITR 00246 .000 5.658 A3 100.656 J,000,000.00 1.18 42333HLF7 FLTG RT 04/28/2003 DD 04/27/99 A-3,019,680.00 1.02 4,000,000.00 HOUSEHOLD FIN CO MTN .ooo 5 .440 A2 100.152 4,000,000.00 1.57 44181KZA5 FLTG RT 06/24/2003 DD 06/24/98 A 4,006,080.00 1.35 1,000,000.00 HOUSEHOLD FIN MTN SR f00570 .000 5.730 A2 100.242 999,188,90 .39 44181KZT4 FLTG RT 08/01/2001 DD 09/04/98 A 1,002,420.00 .34 7,337,330.00 US TREASURY INFLATION INDEX NT 3.697 3.654 AAA 99.203 7,314,173,77 2.85 9128273A8 3,625% 07/15/2002 DD 07/15/97 AAA 7,278,851.48 2.46 10,595,700.00 US TREASURY INFLATION INDEX NT 3.721 3.546 AAA 95.187 10,316,675.00 3.95 9128272M3 3,375% 01/15/2007 DD 01/15/97 AAA 10,085,728.96 3.41 4,000,000.00 MORGAN STANLEY MTN fTR 00299 5.170 5.476 AA3 99.703 3,997,788.00 1.56 61745ENL1 FLTG RT 04/15/2002 DD 04/15/99 A+ 3,988,120.00 1. 35 5,ooo,ooo.oo US TREASURY BONDS 5,234 9.602 AAA 115.859 6,233,593.75 2.27 912810DE5 11,125% 08/15/2003 DD 07/05/83 AAA 5,792,950.00 1.96 2,100,000.00 US TREASURY NOTES 5.294 6.338 AAA 100.578 2,167,321.15 .82 912827Z54 06 .375% 09/30/2001 DD 09/30/96 AAA 2,112,13B,OO • 71 5,200,000.00 US TREASURY BONDS 5,617 9.958 AAA 119. 250 6,698,250.00 2.43 912810DG0 11,875% 11/15/2003 DD 10/05/83 AAA 6,201,000.00 2.09 1,500,000.00 ASSOCIATES CORP N A SR NTS 5,650 6.544 AA3 99.323 1,543,215.00 .58 046003HY8 6.500% 07/15/2002 DD 07 /11/97 AA-1,489,845.00 .50 1,000,000.00 HELLER FINANCIAL INC NTS 5.760 5,869 A3 97.970 999,730.00 .38 42333HKJO 5.750% 09/25/2001 DD 09/25/98 A-979,700.00 .33 1,200,000.00 US TREASURY NOTES 5.76B 6.450 AAA 100.781 1,213,406.25 .47 !H2827Y22 06,500% 05/31/2001 DD 05/31/96 AAA 1,209,378.00 . 41 YLDANAL 0CSF07522202 DISTRICT: LONG-TERM OPERATING YIELD ANALYSIS 1999/11/30 PAGE RUN DATE RUN TIME 5 12/03/99 13.08.19 ====---===----===---===--====----==-----------==----==----===----==---======================================================= PAR VALUE SECURITY ID SECURITY DESCRIPTION 2,005,000.00 SEARS ROEBUCK ACCEP CORP MTN 81240QGW6 6,540\ 02/20/2003 DD 02/20/97 23,430,000.00 US TREASURY NOTES 9128275Ql 05.625\ 09/30/2001 DD 09/30/99 5,0001 000,00 US TREASURY NOTES 9128272L5 06.250\ 02/28/2002 DD 02/28/97 3,000,000,00 SEARS ROEBUCK ACCEP CORP MTN 81240QJA1 6,630\ 07/09/2002 DD 07/09/97 14,750,000,00 FEDERAL NATL MTG ASSN MTN 31364GLD9 5.710\ 12/15/2008 DD 12/15/98 6,000,000.00 NATIONSBANK CHARLOTTE NC MTN 63858JDE6 5,850\ 04/07/2000 DD 04/07/98 620,983.80 FHLMC MULTICL MTG P/C 1574 E 3133T02D5 5,900\ 06/15/2017 15,000,000.00 FEDERAL NATL MTG ASSN MTN 3l364G2VO 5.820\ 07/19/2001 DD 07/19/99 2,500,000.00 MERRILL LYNCH NOTES 59018SXP4 6.375\ 10/01/2001 DD 10/03/97 1 1613,647,35 GNMA II POOL f0080023 36225CAZ9 6,125\ 12/20/2026 DD 12/01/96 7,500,000.00 BELLSOUTH TELECOMMUNICATIONS 079867AX5 6,000\ 06/15/2002 DD 06/15/98 12,500,000.00 FEDERAL HOME LN MTG CORP DEBS 3134A3ZM1 6,000\ 07/20/2001 DD 07/20/99 2,0001000.00 BANKBOSTON CORP SR NTS 06605TAL6 6,125\ 03/15/2002 DD 03/12/99 781 602,23 FIFTH THIRD BK AUTO TR 96A CLA 31677EAA4 6,200\ 09/01/2001 DD 03/15/96 1,0001 000.00 POPULAR INC MTN tTR 00004 73317PAD1 6,200\ 04/30/2001 DD 04/21/99 YTM AT CURRENT MOODY MARKET BOOK YIELD S-P PRICE 5,804 6.686 A2 97,812 A- 5.807 5.664 AAA 99,312 AAA 5,811 6.221 AAA 100,469 AAA 5,849 6,727 A2 98.562 A- 5,882 6.284 AAA 90,859 AAA 5.882 5.856 AAl 99.890 AA- 5.912 5.924 5.981 5.867 5,995 6.415 6.005 6.042 6.010 6,091 6.062 6.032 6.133 6,220 6.200 6,204 6,201 6.272 AAA AAA AA3 AA- AAA AAA AAA AAA AAA AAA A2 A AAA A3 BBB+ 99.593 99.203 99.383 101.375 98.502 99.470 98,477 99.937 98.854 TOTAL COST/ MARKET VALUE 2,060,739.00 1,961,130.60 23,351,289.85 23,268,801.60 5,086,402.25 5,023,450.00 3,073,170.00 2,956,860.00 14,560,462.50 13,401,702.50 5,996,400.00 5,993,400.00 620,110.53 618,456.40 14,955,300.00 14,880,450,00 2,526,725.00 2,484,575.00 1,640,373.39 1,635,835.00 7,497,255.00 7,387,650,00 12,485,625.00 12,433,750,00 1,999,600.00 1,969,540.00 78,602.22 78,552.71 1,000,000.00 988,540.00 % TYPE % TOTAL .76 .66 9.11 7.86 1.96 1.70 1.15 1.00 5.25 4.53 2.34 2.02 .24 .21 5.83 5.03 .97 .84 .64 .55 2.89 2.50 4.87 4.20 . 77 .67 .03 .03 .38 .33 YLDANAL YIELD ANALYSIS PAGE 6 OCSF07522202 1999/11/30 RUN DATE 12/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 13.08.19 --------=---------------==------------------------------------------------===---===================================-===--==== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -------------------------------------------------------------------------------------------- 2,500,000.00 FHLMC MULTICLASS CTF 2146 QT 6.207 6.101 AAA 98.343 2,455,859.38 .96 3133TKKU3 6.000% 11/15/2011 AAA 2,458,575.00 .83 6,250,000.00 COMMIT TO PUR GNMA SF MTG 6.275 6.053 AAA 99.125 5,818,359.38 2.42 01N0606C5 6.000% 12/15/2028 AAA 6,195,312.50 2.09 465,766.73 GREEN TREE CORP 99-D CL A-1 6.290 6.304 AAA 99.781 465,766.73 .18 3935052Y7 6.290% 10/15/2013 DD 08/26/99 AAA 464,746.70 .16 4,500,000.00 FEDERAL NATL MTG ASSN MTN 6.291 6.259 AAA 99.531 4,488,705.00 1.75 31364CXV5 6.230% 03/01/2002 DD 03/03/97 AAA 4,478,895.00 1.51 3,266,672.18 FHLMC MULTICLASS CTF E3 A 6.316 6 .039 AAA 98.496 3,270,244.95 1.26 3133TCE95 6 .3241 08/15/2032 AAA 3,217,541.43 1.09 2,000,000.00 BEAR STEARNS COS INC 6.330 6.845 A2 98.607 2,031,960.00 .77 073902AH1 6.750% 04/15/2003 A 1,972,140.00 .67 5,000,000.00 LEHMAN BROS HLDGS MTN f00196 6.364 6.658 Al 99.875 5,039,450.00 1.95 52517PJD4 6.650% 11/08/2000 DD 11/08/96 A 4,993,750.00 1.69 2,000,000.00 FHLMC MULTICLASS CTF Tll A6 6.496 6.738 AAA 96.464 2,000,000.00 .75 3133TDPV2 6.500% 09/25/2018 AAA 1,929,280.00 .65 21,500,000.00 COMMIT TO PUR GNMA SF MTG 6.518 6.840 AAA 95.031 20,256,875.00 8.00 01N062615 6.500% 01/15/2029 AAA 20,431,665.00 6.90 2,362,872.94 FHLMC MULTICLASS CTF SER 1620Z 6.537 7.004 AAA 85.669 2,206,733.00 .79 3133Tl7A4 6.000% 11/15/2023 DD 11/01/93 AAA 2,024,249.62 .68 9,000,000.00 PHILIP MORRIS COS NT 6,593 9.198 A2 100.567 9,903,780.00 3.54 718154B82 9.250% 02/15/2000 A 9,051,030.00 3.06 9,134,425.60 FHLMC GROUP fGS-0476 6,628 7.015 AAA 99.792 9,277,150.99 3.57 3128DDQ55 7.000% 02/01/2003 DD 02/01/98 AAA 9,115,425.99 3.08 2,140,419.16 GNMA II POOL f080088M 6.705 6,315 AAA 100.953 2,187,240.82 .84 36225CC20 6.375% 06/20/2027 DD 06/01/97 AAA 2,160,817.35 .73 10,soo,000.00 FEDERAL HOME LN MTG CORP DEBS 6. 711 6.421 AAA 98.109 10,323,075.00 4.03 3134A3TCO 6.300% 06/01/2004 DD 06/01/99 AAA 10,301,445.00 3.48 2,000,000.00 MARSH & MCLENNAN COS INC SR NT 6. 717 6.783 A2 97.666 1,992,280.00 .76 57174BAB8 6.625% 06/15/2004 DD 06/14/99 AA-1,953,320.00 .66 YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING PAR VALUE SECURITY ID SECURITY DESCRIPTION 3,000,000.00 FORD MTR CR CO GLOBAL LANDMARK 345397SJ3 6.700% 07/16/2004 DD 07/16/99 2,500,000.00 COUNTRYWIDE HOME LNS INC NT 22237UAB8 6.850% 06/15/2004 DD 06 /24 /99 990,951.86 FNMA POOL t0252703 31371HU48 6.500% 09/01/2006 DD 08/01/99 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 03/28/93 977,983,10 WMP/HUNTOON PAIGE I000-11150 302998GE3 7.500% 12/01/2030 DD 10/21/99 TOTAL FIXED INCOME SECURITIES TOTAL YTM AT BOOK 6,739 6.866 6.877 6,906 7,512 7.684 ------- 4.538 ---·----- 4.491 YIELD ANALYSIS 1999/11/30 CURRENT MOODY MARKET YIELD S-P PRICE 6,786 Al 98.736 A 6,959 A3 98.437 A 6.614 AAA 98.281 AAA 9.035 AAA 146.656 AAA 8.375 BAA3 97.909 A- 7.667 AAA 97.828 AAA ------- 6.067 ------- 5.972 PAGE RUN DATE RUN TIME TOTAL COST/ MARKET VALUE 2,995,080.00 2,962,080.00 2,498,400.00 2,460,925.00 970,358.64 973,917.40 4,029,030.31 3,666,400.00 2,151,250.00 1,958,180.00 956,742.53 956,742.53 --------------259,862,253,39 255,159,706.77 ----------------300,747,317.61 296,044,770.99 ================= 7 12/03/99 13.08.19 % TYPE % TOTAL 1.16 1,00 .96 .83 .38 .33 1.43 1.24 .76 .66 . 37 .32 --------- 100.00 86 , 19 ------- 100.00 100.00 @ ORANGE COUNTY SANITATION DISTRICT PAGE: 2 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LIQUID OPER-PIMCO 20,521.97 DREYFUS TREASURY CASH MGMT 01-Nov-1999 -20,521.97 996085247 01-Nov-1999 0.00 FC 01-Nov-1999 0.00 LIQUID OPER-PIMCO 10,992.09 DREYFUS TREASURY CASH MGMT 02-Nov-1999 -10,992.09 996085247 02-Nov-1999 10,992.09 B 0.00 LIQUID OPER-PIMCO 10,992.09 DREYFUS TREASURY CASH MGMT 02-Nov-1999 -10,992.09 996085247 02-Nov-1999 0.00 FC 02-Nov-1999 0.00 LONG TERM OPER-PIMCO 1,543.20 DREYFUS TREASURY CASH MGMT 02-Nov-1999 -1,543.20 996085247 02-Nov-1999 1,543.20 B 0.00 LONG TERM OPER-PIMCO 1,543.20 DREYFUS TREASURY CASH MGMT 02-Nov-1999 -1,543.20 996085247 02-Nov-1999 0.00 FC 02-Nov-1999 0.00 LIQUID OPER-PIMCO 2,000,000.00 FEDERAL HOME LN MTG CORP DIS 02-Nov-1999 -1,989,001.l l 313396QH9 MAT 12/10/1999 02-Nov-1999 1,989,001.11 B CREDIT SUISSE FIRST BOSTON C 0.00 LIQUID OPER-PIMCO 2,000,000.00 FEDERAL HOME LN MTG CORP DIS 02-Nov-1999 -1,989,001.l I 313396QH9 MAT 12/10/1999 02-Nov-1999 0.00 FC CREDIT SUISSE FIRST BOSTON C 02-Nov-1999 0.00 07-Dec-1999 J 1:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 4 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LIQUID OPER-PIMCO 900,000.00 FEDERAL NATL MTG ASSN DISC 03-Nov-1999 -894,519.00 313588QN8 MAT 12/15/1999 03-Nov-1999 0.00 FC MORGAN STANLEY & CO INC, NY 03-Nov-1999 0.00 LIQUID OPER-PIMCO 2,605.00 DREYFUS TREASURY CASH MGMT 04-Nov-1999 -2,605.00 996085247 04-Nov-1999 2,605.00 B 0.00 LIQUID OPER-PIMCO 2,605.00 DREYFUS TREASURY CASH MGMT 04-Nov-1999 -2,605.00 996085247 04-Nov-1999 0.00 FC 04-Nov-1999 0.00 LIQUID OPER-PIMCO 500,000.00 FEDERAL HOME LN MTG CORP DIS 04-Nov-l 999 -497,395.00 313396QH9 MAT 12/10/1999 04-Nov-1999 497,395.00 B CREDIT SUISSE FIRST BOSTON C 0.00 LIQUID OPER-PIMCO 500,000.00 FEDERAL HOME LN MTG CORP DIS 04-Nov-1999 -497,395.00 313396QH9 MAT 12/10/1999 04-Nov-1999 0.00 FC CREDIT SUISSE FIRST BOSTON C 04-Nov-1999 0.00 LONG TERM OPER-PIMCO 12,500,000.00 HEINZ H J CO DISC 04-Nov-1999 -12,454, 166.66 42307KYV3 11/29/1999 04-Nov-1999 12,454,166.66 B MORGAN JP SECS -FIXED INCO 0.00 LONG TERM OPER-PIMCO 12,500,000.00 HEINZ H J CO DISC 04-Nov-1999 -12,454, 166.66 42307KYV3 11/29/1999 04-Nov-1999 0.00 FC MORGAN J P SECS -FIXED INCO 04-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 6 PORTFOLIO DETAIL OCSG000JO000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 924,062.88 DREYFUS TREASURY CASH MGMT 15-Nov-1999 -924,062.88 996085247 15-Nov-1999 0.00 FC 15-Nov-l 999 0.00 LONG TERM OPER-PIMCO 24,137.44 BSDT-LATE MONEY DEP ACCT 15-Nov-1999 -24,137.44 996087094 VAR RT DD 06/26/1997 15-Nov-1999 24,137.44 B 0.00 LONG TERM OPER-PIMCO 800,000.00 PROCTER & GAMBLE DISC 16-Nov-1999 -796,790.00 74271SZD0 12/13/1999 16-Nov-1999 796,790.00 B MORGAN J P SECS -FIXED INCO 0.00 LONG TERM OPER-PIMCO 800,000.00 PROCTER & GAMBLE DISC 16-Nov-1999 -796,790.00 74271SZD0 12/13/1999 16-Nov-1999 0.00 FC MORGAN JP SECS -FIXED INCO 16-Nov-1999 0.00 LIQUID OPER-PIMCO 3,829.00 DREYFUS TREASURY CASH MGMT 17-Nov-1999 -3,829.00 996085247 17-Nov-1999 3,829.00 B 0.00 LIQUID OPER-PIMCO 3,829.00 DREYFUS TREASURY CASH MGMT 17-Nov-1999 -3,829.00 996085247 17-Nov-1999 0.00 FC 17-Nov-1999 0.00 LONG TERM OPER-PIMCO 15,101.52 BSDT-LATE MONEY DEP ACCT 17-Nov-1999 -15,101.52 996087094 VAR RT DD 06/26/1997 17-Nov-1999 15,101.52 B 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 8 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 15,101.52 DREYFUS TREASURY CASH MGMT 18-Nov-1999 -15, 101.52 996085247 18-Nov-1999 0.00 FC 18-Nov-1999 0.00 LONG TERM OPER-PIMCO 56,217.98 DREYFUS TREASURY CASH MGMT 19-Nov-1999 -56,217.98 996085247 19-Nov-1999 56,217.98 B 0.00 LONG TERM OPER-PIMCO 56,217.98 DREYFUS TREASURY CASH MGMT 19-Nov-1999 -56,217.98 996085247 19-Nov-1999 0.00 FC 19-Nov-1999 0.00 LONG TERM OPER-PIMCO 40,065.03 DREYFUS TREASURY CASH MGMT 22-Nov-1999 -40,065.03 996085247 22-Nov-1999 40,065.03 B 0.00 LONG TERM OPER-PIMCO 40,065.03 DREYFUS TREASURY CASH MGMT 22-Nov-1999 -40,065.03 996085247 22-Nov-1999 0.00 FC 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 1,140.62 DREYFUS TREASURY CASH MGMT 23-Nov-1999 -1,140.62 996085247 23-Nov-1999 1,140.62 B 0.00 LONG TERM OPER-PIMCO 1,140.62 DREYFUS TREASURY CASH MGMT 23-Nov-1999 -1, 140.62 996085247 23-Nov-1999 0.00 FC 23-Nov-1999 0.00 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 10 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOL/DATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 11,000,000.00 COMMIT TO PUR GNMA SF MTG 04-0ct-1999 -10,484,375.00 01N062683 6.500% 11/01/2029 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 395,040.89 GNMA POOL #0509944 04-0ct-1999 -376,523.35 3621 IDP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 376,523.35 8 BEAR STEARNS & CO INC, NY 0.00 LONG TERM OPER-PIMCO 395,040.89 GNMA POOL #0509944 04-0ct-1999 -1,497.86 36211DP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 0.00 18 0.00 LONG TERM OPER-PIMCO 395,040.89 GNMA POOL #0509944 04-0ct-1999 -378,021.2 l 362l lDP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 32,596.21 GNMA POOL #0471550 04-0ct-1999 -31,068.26 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 31,068.26 B BEAR STEARNS & CO INC, NY 0.00 LONG TERM OPER-PIMCO 32,596.21 GNMA POOL #0471550 04-0ct-1999 -123.59 36209GZP5 6.500% 03/15/2029 DD 03/0l/ 22-Nov-1999 0.00 18 0.00 LONG TERM OPER-PIMCO 32,596.21 GNMA POOL #0471550 04-0ct-1999 -31,191.85 36209GZP5 6.500% 03/15/2029 DD 03/0l/ 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 1J PORTFOLIO DETAIL OCSG000J 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 572,457.41 GNMA POOL #0464503 04-0ct-1999 -545,623.47 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 545,623.47 B BEAR STEARNS & CO INC, NY 0.00 LONG TERM OPER-PIMCO 572,457.41 GNMA POOL #0464503 04-0ct-1999 -2,170.57 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 572,457.41 GNMA POOL #0464503 04-0ct-1999 -547, 794.04 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 12-0ct-1999 9,968,437.50 01N0626B3 6.500% 11/15/2028 22-Nov-1999 -9,968,437.50 BC DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 359,169.50 GNMA POOL #0495869 12-0ct-1999 -340,986.54 36210L2A0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 340,986.54 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 359,169.50 GNMA POOL #0495869 12-0ct-1999 -1,361.85 36210L2A0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 359,169.50 GNMA POOL #0495869 12-0ct-1999 -342,348.39 36210L2A0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 07-Dec-1999 I 1:04:44 &e.c11tive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 12 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 600,566.27 GNMA POOL #0495894 12-0ct-1999 -570, 162.60 36210L3B7 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 570,162.60 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 600,566.27 GNMA POOL #0495894 12-0ct-1999 -2,277.15 362IOL3B7 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 600,566.27 GNMA POOL #0495894 12-0ct-1999 -572,439.75 362IOL3B7 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 206,934.41 GNMA POOL #0496128 12-0ct-1999 -196,458.36 36210MD99 6.500% 01/15/2029 DD 01 /01/ 22-Nov-1999 196,458.36 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 206,934.41 GNMA POOL #0496128 12-0ct-1999 -784.63 36210MD99 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 206,934.41 GNMA POOL #0496128 12-0ct-1999 -197,242.99 362IOMD99 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 282,236.86 GNMA POOL #0496137 12-0ct-1999 -267,948.62 36210MEJ6 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 267,948.62 B DEUTSCHE BK SEC INC, NEW YOR 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT 11 PAGE: 14 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 362,313.13 GNMA POOL #0496960 12-0ct-1999 -345,344.80 36210NB57 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 462,427.27 GNMA POOL #0497525 12-0ct-1999 -439,016.89 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 439,016.89 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 462,427.27 GNMA POOL #0497525 12-0ct-1999 -1,753.37 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IB 0.00 LONG TERM OPER-PIMCO 462,427.27 GNMA POOL #0497525 12-0ct-1999 -440,770.26 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 358,494.36 GNMA POOL #0469883 12-0ct-1999 -340,345.58 36209E6UI 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 340,345.58 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 358,494.36 GNMA POOL #0469883 12-0ct-1999 -1,359.29 36209E6Ul 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IB 0.00 LONG TERM OPER-PIMCO 358,494.36 GNMA POOL #0469883 12-0ct-1999 -341,704.87 36209E6U1 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 15 PORTFOLIO DETAIL OCSG000I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 651,041.21 GNMA POOL #0469886 12-Oct-1 999 -618,082.25 36209E6X5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 618,082.25 B DEUTSCHE BK SEC lNC, NEW YOR 0.00 LONG TERM OPER-PIMCO 651,041.21 GNMA POOL #0469886 12-0ct-1999 -2,468.53 36209E6X5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 651,041.21 GNMA POOL #0469886 12-0ct-1999 -620,550. 78 36209E6X5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC lNC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 564,555.13 GNMA POOL #0469892 12-0ct-1999 -535,974.53 36209E7D8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 535,974.53 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 564,555.13 GNMA POOL #0469892 12-0ct-1999 -2,140.60 36209E7D8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 564,555.13 GNMA POOL #0469892 12-0ct-1999 -538, 115.13 36209E7D8 6.500% 01/15/2029 DD 01/01 / 22-Nov-1999 0.00 FC DEUTSCHE BK SEC lNC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 58,872.58 GNMA POOL #0458988 12-0ct-1999 -55,892.16 36208R2V5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 55,892.16 B DEUTSCHE BK SEC INC, NEW YOR 0.00 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 16 PORTFOLIO DETAIL OCSG000 I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 58,872.58 GNMA POOL #0458988 12-0ct-1999 -223.23 36208R2V5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 58,872.58 GNMA POOL #0458988 12-0ct-1999 -56,115.39 36208R2V5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 402,580.30 GNMA POOL #0458995 12-0ct-1999 -382, 199.67 36208R3C6 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 382,199.67 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 402,580.30 GNMA POOL #0458995 12-0ct-1999 -1,526.45 36208R3C6 6.500% 02/15/2029 DD 02/0 II 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 402,580.30 GNMA POOL #0458995 12-0ct-1999 -383, 726.12 36208R3C6 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 496,005.40 GNMA POOL #0465274 12-0ct-1999 -470,895.13 36208Y2F5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 470,895.13 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 496,005.40 GNMA POOL #0465274 12-0ct-1999 -1,880.69 36208Y2F5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 1B 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 17 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 496,005.40 GNMA POOL #0465274 12-0ct-1999 -472,775.82 36208Y2F5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 178,720.23 GNMA POOL #0434219 12-0ct-1999 -169,672.52 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 169,672.52 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 178,720.23 GNMA POOL #0434219 12-0ct-1999 -677.65 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 178,720.23 GNMA POOL #0434219 12-0ct-1999 -170,350.17 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 879,834.20 GNMA POOL #0466454 12-0ct-1999 -835,292.59 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 835,292.59 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 879,834.20 GNMA POOL #0466454 12-0ct-1999 -3,336.04 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 879,834.20 GNMA POOL #0466454 12-0ct-1999 -838,628.63 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-l 999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 07-Dec-1999 I 1:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT ii PAGE: 18 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 383,762.77 GNMA POOL #0468574 12-0ct-1999 -364,334. 78 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 364,334.78 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 383,762.77 GNMA POOL #0468574 12-0ct-1999 -1,455.10 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 383,762.77 GNMA POOL #0468574 12-0ct-1999 -365,789.88 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 32,765.30 GNMA POOL #0498342 12-0ct-1999 -31,106.56 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 31,106.56 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 32,765.30 GNMA POOL #0498342 12-0ct-1999 -124.24 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 32,765.30 GNMA POOL #0498342 12-0ct-1999 -31,230.80 362IOPS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 399,334.49 GNMA POOL #0498342 12-0ct-1999 -379,118.18 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 379,118.18 B DEUTSCHE BK SEC INC, NEW YOR 0.00 07-Dec-1999 I I :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 20 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 233,596.52 GNMA POOL #0499521 12-0ct-1999 -222,656.42 36210Q4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 637,587.62 GNMA POOL #0499558 12-0ct-1999 -605,309.75 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 605,309.75 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 637,587.62 GNMA POOL #0499558 12-0ct-1999 -2,417.52 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 637,587.62 GNMA POOL #0499558 12-0ct-1999 -607,727.27 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 462,563.92 GNMA POOL #0512997 12-0ct-1999 -439, 146.62 3621 IG3El 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 439,146.62 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 462,563.92 GNMA POOL #0512997 12-0ct-1999 -1,753.89 3621 IG3El 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PlMCO 462,563.92 GNMA POOL #0512997 12-0ct-1999 -440,900.51 36211G3EI 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 21 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 499,999.02 GNMA POOL#0514314 12-0ct-1999 -474,686.57 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 474,686.57 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 499,999.02 GNMA POOL #0514314 12-0ct-1999 -1,895.83 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 499,999.02 GNMA POOL #0514314 12-0ct-1999 -476,582.40 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 74,909.52 GNMA POOL #0483340 12-0ct-1999 -71,117.23 36209V4Z4 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 71,117.23 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 74,909.52 GNMA POOL #0483340 12-0ct-1999 -284.03 36209V4Z4 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 74,909.52 GNMA POOL #0483340 12-0ct-1999 -71,401.26 36209V4Z4 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 325,175.14 GNMA POOL #0486958 12-0ct-1999 -308,713 .15 36210A5T0 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 308,713.15 B DEUTSCHE BK SEC INC, NEW YOR 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 22 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOL/DATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 325,175.14 GNMA POOL #0486958 12-0ct-1999 -1,232.96 36210A5TO 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 325,175.14 GNMA POOL #0486958 12-0ct-1999 -309,946.11 36210A5T0 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 297,452.84 GNMA POOL #0488332 12-0ct-1999 -282,394.29 36210CPR8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 282,394.29 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 297,452.84 GNMA POOL #0488332 12-0ct-1999 -1,127.84 36210CPR8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 297,452.84 GNMA POOL #0488332 12-0ct-1999 -283,522.13 36210CPR8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 61,193.95 GNMA POOL #0490379 12-0ct-1999 -58,096.01 36210EXG9 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 58,096.01 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 61,193.95 GNMA POOL #0490379 12-0ct-1999 -232.03 36210EXG9 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 1B 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 26 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -1 ,579.97 DREYFUS TREASURY CASH MGMT 01-Nov-1999 1,579.97 996085247 01-Nov-1999 -1,579.97 s 0.00 LONG TERM OPER-PIMCO -1,579.97 DREYFUS TREASURY CASH MGMT 01-Nov-1999 1,579.97 996085247 01-Nov-1999 0.00 FC 01-Nov-1999 0.00 LONG TERM OPER-PIMCO -209, 751.41 DREYFUS TREASURY CASH MGMT 04-Nov-1999 209,751.41 996085247 04-Nov-1999 -209, 751.41 s 0.00 LONG TERM OPER-PIMCO -209, 751.41 DREYFUS TREASURY CASH MGMT 04-Nov-1999 209,751.41 996085247 04-Nov-1999 0.00 FC 04-Nov-1999 0.00 LONG TERM OPER-PIMCO -76,577.78 DREYFUS TREASURY CASH MGMT 08-Nov-1999 76,577.78 996085247 08-Nov-1999 -76,577.78 s 0.00 LONG TERM OPER-PIMCO -76,577.78 DREYFUS TREASURY CASH MGMT 08-Nov-1999 76,577.78 996085247 08-Nov-1999 0.00 FC 08-Nov-1999 0.00 LONG TERM OPER-PIMCO -2, 100,000.00 FEDERAL HOME LN MTG CORP DIS 12-Nov-1999 2,089,970.75 313396QE6 MAT 12/07/1999 12-Nov-1999 -2,089,970. 75 s GOLDMAN SACHS & CO, NY 0.00 07-Dec-1999 I 1:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 27 PORTFOLIO DETAIL OCSG000 I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -2, 100,000.00 FEDERAL HOME LN MTG CORP DIS 12-Nov-1999 2,373.00 313396QE6 MAT 12/07/1999 12-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -2, 100,000.00 FEDERAL HOME LN MTG CORP DIS 12-Nov-1999 2,092,343.75 313396QE6 MAT 12/07/1999 12-Nov-1999 0.00 FC GOLDMAN SACHS & CO, NY 12-Nov-1999 0.00 LONG TERM OPER-PIMCO -24, 137.44 BSDT-LATE MONEY DEP ACCT 16-Nov-1999 24,137.44 996087094 VAR RT DD 06/26/1997 16-Nov-1999 -24,137.44 s 0.00 LONG TERM OPER-PIMCO -163,562.56 DREYFUS TREASURY CASH MGMT 16-Nov-1999 163,562.56 996085247 16-Nov-1999 -163,562.56 s 0.00 LONG TERM OPER-PIMCO -163,562.56 DREYFUS TREASURY CASH MGMT 16-Nov-1999 163,562.56 996085247 16-Nov-1999 0.00 FC 16-Nov-1999 0.00 LONG TERM OPER-PIMCO -673, 189.03 DREYFUS TREASURY CASH MGMT 17-Nov-l 999 673,189.03 996085247 17-Nov-1999 -673,189.03 s 0.00 LONG TERM OPER-PIMCO -673, 189.03 DREYFUS TREASURY CASH MGMT 17-Nov-1999 673,189.03 996085247 17-Nov-1999 0.00 FC 17-Nov-1999 0.00 07-Dec-J 999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 29 PORTFOLIO DETAIL OCSG00O 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -395,040.89 GNMA POOL #0509944 13-0ct-1999 374,548.14 362llDP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 -376,523.35 s LEHMAN GOVT SECS INC, NY -1,975.21 LONG TERM OPER-PIMCO -395,040.89 GNMA POOL #0509944 13-0ct-1999 1,497.86 362l IDP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -395,040.89 GNMA POOL #0509944 13-0ct-1999 376,046.00 362l IDP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 0.00 FC LEHMAN GOVT SECS INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -32,596.21 GNMA POOL #0471550 13-0ct-1999 30,905.28 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -31,068.26 s LEHMAN GOVT SECS INC, NY -162.98 LONG TERM OPER-PIMCO -32,596.21 GNMA POOL #0471550 13-0ct-1999 123.59 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -32,596.21 GNMA POOL #0471550 13-0ct-1999 31,028.87 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC LEHMAN GOVT SECS INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -572,457.41 GNMA POOL #0464503 13-0ct-1999 542,761.18 36208YAC3 6.500% 0l/15/2029 DD 01/01/ 22-Nov-1999 -545,623.47 s LEHMAN GOVT SECS INC, NY -2,862.29 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 30 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -572,457.41 GNMA POOL #0464503 13-0ct-1999 2,170.57 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -572,457 .41 GNMA POOL #0464503 13-0ct-1999 544,931.75 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC LEHMAN GOVT SECS INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO I 0,500,000.00 COMMIT TO PUR GNMA SF MTG 27-0ct-1999 -9,914,296.88 0IN0626B3 6.500% 11/01/2029 22-Nov-1999 9,989,437.50 SC MERRILL LYNCH PIERCE FENNER 75,140.62 LONG TERM OPER-PIMCO 11,000,000.00 COMMIT TO PUR GNMA SF MTG 27-0ct-1999 -10,379,531.25 0IN0626B3 6.500% 11/01/2029 22-Nov-1999 10,465,125.00 SC BEAR STEARNS & CO INC, NY 85,593.75 LONG TERM OPER-PIMCO -233,596.52 GNMA POOL #0499521 27-0ct-1999 220,566.21 362IOQ4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 -221,770.70 s MERRILL LYNCH PIERCE FENNER -1,204.49 LONG TERM OPER-PIMCO -233,596.52 GNMA POOL #0499521 27-0ct-1999 885.72 36210Q4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -233,596.52 GNMA POOL #0499521 27-0ct-1999 221,451.93 36210Q4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 31 PORTFOLIO DETAIL OCSG000I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -637,587.62 GNMA POOL #0499558 27-0ct-1999 602,022.19 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-l 999 -605,309.75 s MERRILL LYNCH PIERCE FENNER -3,287.56 LONG TERM OPER-PIMCO -637,587.62 GNMA POOL #0499558 27-0ct-1999 2,417.52 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -637,587.62 GNMA POOL #0499558 27-0ct-1999 604,439.71 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -462,563.92 GNMA POOL #0512997 27-0ct-1999 436,761.53 36211G3El 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 -439, 146.62 s MERRILL LYNCH PIERCE FENNER -2,385.09 LONG TERM OPER-PIMCO -462,563.92 GNMA POOL #0512997 27-0ct-1999 1,753.89 3621 lGJEI 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -462,563.92 GNMA POOL #0512997 27-0ct-1999 438,515.42 36211G3El 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -499,999.02 GNMA POOL#0514314 27-0ct-1999 472,108.45 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-l 999 -474,686.57 s MERRILL LYNCH PIERCE FENNER -2,578.12 07-Dec-1999 I 1:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 32 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -499,999.02 GNMA POOL #0514314 27-0ct-1999 1,895.83 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -499,999.02 GNMA POOL#0514314 27-0ct-1999 474,004.28 362l IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -297,452.84 GNMA POOL #0488332 27-0ct-1999 280,860.55 362lOCPR8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -282,394.29 s MERRILL LYNCH PIERCE FENNER -1,533.74 LONG TERM OPER-PIMCO -297,452.84 GNMA POOL #0488332 27-0ct-1999 1,127.84 362lOCPR8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -297,452.84 GNMA POOL #0488332 27-0ct-1999 281,988.39 362lOCPR8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -61, 193.95 GNMA POOL #0490379 27-0ct-1999 57,780.47 362lOEXG9 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -58,096.01 s MERRILL LYNCH PIERCE FENNER -315.54 LONG TERM OPER-PIMCO -61,193.95 GNMA POOL #0490379 27-0ct-1999 232.03 362lOEXG9 6.500% 03/15/2029 DD 03/01/ 22-Nov-l 999 0.00 IS 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 34 PORTFOLIO DETAIL OCSG000 I 0000 01-NOV-1999-30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -600,566.27 GNMA POOL #0495894 27-0ct-1999 567,065.93 36210L387 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -570,162.60 s MERRILL LYNCH PIERCE FENNER -3,096.67 LONG TERM OPER-PIMCO -600,566.27 GNMA POOL #0495894 27-0ct-1999 2,277.15 36210L387 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -600,566.27 GNMA POOL #0495894 27-0ct-1999 569,343.08 36210L387 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -362,313.13 GNMA POOL #0496960 27-0ct-1999 342,102.85 36210NB57 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -343,971.03 s MERRILL LYNCH PIERCE FENNER -1,868.18 LONG TERM OPER-PIMCO -362,313.13 GNMA POOL #0496960 27-0ct-1999 1,373.77 362I0NB57 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -362,313. 13 GNMA POOL #0496960 27-0ct-1999 343,476.62 36210NB57 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -462,427.27 GNMA POOL #0497525 27-Oct-l 999 436,632.50 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -439,016.89 s MERRILL LYNCH PIERCE FENNER -2,384.39 07-Dec-1999 I 1:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 35 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -462,427.27 GNMA POOL #0497525 27-0ct-1999 1,753.37 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -462,427.27 GNMA POOL #0497525 27-0ct-1999 438,385.87 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -32,765.30 GNMA POOL #0498342 27-0ct-1999 30,937.61 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -31,106.56 s MERRILL LYNCH PIERCE FENNER -168.95 LONG TERM OPER-PIMCO -32,765.30 GNMA POOL #0498342 27-0ct-1999 124.24 36210PS70 6.500% 02/15/2029 DD 02/01 / 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -32,765.30 GNMA POOL #0498342 27-0ct-1999 31,061.85 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -399,334.49 GNMA POOL #0498342 27-0ct-1999 377,059.11 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -379,118.18 s MERRILL LYNCH PIERCE FENNER -2,059.07 LONG TERM OPER-PIMCO -399,334.49 GNMA POOL #0498342 27-0ct-1999 1,514.14 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 07-Dec-1999 11:04:44 Executive Workbench @ II ORANGE COUNTY SANITATION DISTRICT PAGE: 36 PORTFOLIO DETAIL OCSG000J 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -399,334.49 GNMA POOL #0498342 27-0ct-1999 378,573.25 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -616,137.93 GNMA POOL #0499497 27-0ct-1999 581,768.99 362IOQ3E0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -584,945.95 s MERRILL LYNCH PIERCE FENNER -3, 176.96 LONG TERM OPER-PIMCO -616, 137.93 GNMA POOL #0499497 27-0ct-1999 2,336.19 36210Q3E0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -616, 137.93 GNMA POOL #0499497 27-0ct-1999 584,105.18 36210Q3EO 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -178, 720.23 GNMA POOL #0434219 27-0ct-1999 168,750.99 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -169,672.52 s MERRILL LYNCH PIERCE FENNER -921.53 LONG TERM OPER-PIMCO -178, 720.23 GNMA POOL #0434219 27-Oct-1999 677.65 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -178, 720.23 GNMA POOL #0434219 27-0ct-1999 169,428.64 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 37 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -58,872.58 GNMA POOL #0458988 27-0ct-1999 55,588.59 36208R2V5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -55,892.16 s MERRILL LYNCH PIERCE FENNER -303.57 LONG TERM OPER-PIMCO -58,872.58 GNMA POOL #0458988 27-0ct-1999 223 .23 36208R2V5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -58,872.58 GNMA POOL #0458988 27-0ct-1999 55,811.82 36208R2V5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -206,934.41 GNMA POOL #0496128 27-0ct-1999 195,391.35 36210MD99 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -196,458.36 s MERRILL LYNCH PIERCE FENNER -1,067.01 LONG TERM OPER-PIMCO -206,934.41 GNMA POOL #0496128 27-0ct-1999 784.63 36210MD99 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -206,934.41 GNMA POOL #0496128 27-0ct-1999 196,175.98 36210MD99 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -282,236.86 GNMA POOL #0496137 27-0ct-1999 266,493.34 36210MEJ6 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -267,948.62 s MERRILL LYNCH PIERCE FENNER -1 ,455.28 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 40 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -325,175.14 GNMA POOL #0486958 27-0ct-1999 307,036.46 36210A5T0 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -308,713.15 s MERRILL LYNCH PIERCE FENNER -1,676.69 LONG TERM OPER-PIMCO -325, 175.14 GNMA POOL #0486958 27-0ct-1999 1,232.96 36210A5T0 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -325, 175.14 GNMA POOL #0486958 27-0ct-1999 308,269.42 36210A5TO 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -383,762.77 GNMA POOL #0468574 27-0ct-1999 362,356.00 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -364,334.78 s MERRILL LYNCH PIERCE FENNER -1,978.78 LONG TERM OPER-PIMCO -383,762.77 GNMA POOL #0468574 27-0ct-1999 1,455.10 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -383, 762. 77 GNMA POOL #0468574 27-0ct-1999 363,811.10 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-N ov-I 999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -358,494.36 GNMA POOL #0469883 27-0ct-1999 338,497.10 36209E6UI 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -340,345.58 s MERRILL LYNCH PIERCE FENNER -1,848.48 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 41 PORTFOLIO DETAIL OCSG0O0JO000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -358,494.36 GNMA POOL #0469883 27-0ct-1999 1,359.29 36209E6Ul 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -358,494.36 GNMA POOL #0469883 2 7-0ct-1999 339,856.39 36209E6Ul 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -402,580.30 GNMA POOL #0458995 27-Oct-1999 380,123.87 36208R3C6 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -382,199.67 s MERRILL LYNCH PIERCE FENNER -2,075.80 LONG TERM OPER-PIMCO -402,580.30 GNMA POOL #0458995 27-0ct-1999 1,526.45 36208R3C6 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -402,580.30 GNMA POOL #0458995 27-0ct-1999 381,650.32 36208R3C6 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -496,005.40 GNMA POOL #0465274 27-0ct-1999 468,337.60 36208Y2F5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -470,895.13 s MERRILL LYNCH PIERCE FENNER -2,557.53 LONG TERM OPER-PIMCO -496,005.40 GNMA POOL #0465274 27-0ct-1999 1,880.69 36208Y2F5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 IS 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 42 PORTFOLIO DETAIL OCSG000J 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -496,005.40 GNMA POOL #0465274 27-0ct-1999 470,218.29 36208Y2F5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -879,834.20 GNMA POOL #0466454 27-0ct-1999 830,755.95 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -835,292.59 s MERRILL LYNCH PIERCE FENNER -4,536.64 LONG TERM OPER-PIMCO -879,834.20 GNMA POOL #0466454 27-0ct-1999 3,336.04 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -879,834.20 GNMA POOL #0466454 27-0ct-1999 834,091.99 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -11,000,000.00 COMMIT TO PUR GNMA SF MTG 27-0ct-1999 10,379,531.25 01N0626B3 6.500% 11/0 l/2029 22-Nov-1999 -10,484,375.00 s BEAR STEARNS & CO INC, NY -104,843.75 LONG TERM OPER-PIMCO -11,000,000.00 COMMIT TO PUR GNMA SF MTG 27-0ct-1999 10,379,531.25 01N0626B3 6.500% 11/01/2029 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -6,250,000.00 COMMIT TO PUR GNMA SF MTG 04-Nov-1999 5,823,730.47 01N0606B7 6.000% 11/15/2028 22-Nov-1999 -5, 734,375.00 s GOLDMAN SACHS & CO, NY 89,355.47 07-Dec-1999 ll:04:44 Executive Workbench @ II ORANGE COUNTY SANITATION DISTRICT PAGE: 44 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOL/DATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 77,449.50 FHLMC MULTI CLASS CTF E3 A 01-0ct-1999 -77,449.50 3133TCE95 6.324% 08/15/2032 01-0ct-1999 77,534.21 PDC 84.71 LONG TERM OPER-PIMCO -77,464.00 FHLMC MUL Tl CLASS CTF E3 A 01 -0ct-1999 77,464.00 3133TCE95 6.324% 08/15/2032 01-0ct-1999 -77,548.72 PD -84.72 LONG TERM OPER-PIMCO -77,464.00 FHLMC MULTICLASS CTF E3 A 01-0ct-1999 77,464.00 3133TCE95 6.324% 08/15/2032 01-0ct-1999 0.00 FC 15-Nov-1999 0.00 LONG TERM OPER-PIMCO -44,411.10 FHLMC MULTICL MTG P/C 1574 E 01-Nov-1999 44,411.10 3133T02D5 5.900% 06/15/2017 01-Nov-1999 -44,348.65 PD 62.45 LONG TERM OPER-PIMCO -44,411.10 FHLMC MULTICL MTG P/C 1574 E 01-Nov-1999 44,411.10 3133T02D5 5.900% 06/15/2017 01-Nov-1999 0.00 FC 15-Nov-1999 0.00 LONG TERM OPER-PIMCO -135,653.59 FHLMC GROUP #05-0476 01-Nov-1999 135,653.59 3128DDQ55 7.000% 02/01/2003 DD 02/01/ 01-Nov-1999 -137,773 .18 PD -2, 119.59 LONG TERM OPER-PIMCO -135,653.59 FHLMC GROUP #05-0476 01-Nov-1999 135,653.59 3128DDQ55 7.000% 02/01/2003 DD 02/01/ 01-Nov-1999 0.00 FC 15-Nov-1999 0.00 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 45 PORTFOLIO DETAIL OCSG000J 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -1,915.35 FNMA POOL #0252703 01-Nov-1999 1,915.35 31371HU48 6.500% 09/01/2006 DD 08/01/ 01-Nov-1999 -1,875.55 PD 39.80 LONG TERM OPER-PIMCO -1 ,915.35 FNMA POOL #0252703 01-Nov-1999 1,915.35 3137lHU48 6.500% 09/01/2006 DD 08/01/ 01-Nov-1999 0.00 FC 26-Nov-1999 0.00 LONG TERM OPER-PIMCO -36,990.40 GNMA II POOL #0080023 01-Nov-1999 36,990.40 36225CAZ9 6.125% 12/20/2026 DD 12/01/ 01-Nov-1999 -37,603.05 PD -612.65 LONG TERM OPER-PIMCO -36,990.40 GNMA II POOL #0080023 01-Nov-1999 36,990.40 36225CAZ9 6.125% 12/20/2026 DD 12/01/ 01-Nov-1999 0.00 FC 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -57,596.83 GNMA II POOL #080088M 01-Nov-1999 57,596.83 36225CC20 6.375% 06/20/2027 DD 06/01/ 01-Nov-1999 -58,856.76 PD -1,259.93 LONG TERM OPER-PIMCO -57,596.83 GNMA II POOL #080088M 01-Nov-1999 57,596.83 36225CC20 6.375% 06/20/2027 DD 06/01/ 01-Nov-1999 0.00 FC 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -53,279.00 FHLMC MULTI CLASS CTF E3 A 01-Nov-1999 53,279.00 3133TCE95 6.324% 08/15/2032 01-Nov-1999 -53,337.27 PD -58.27 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 47 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LIQUID OPER-PIMCO -900,000.00 FEDERAL NATL MTG ASSN DISC N 03-Nov-1999 896,201.00 313588NU5 MAT 11/03/1999 03-Nov-1999 -896,201.00 MT 03-Nov-1999 0.00 LIQUID OPER-PIMCO -900,000.00 GOLDMAN SACHS LP DISC 03-Nov-1999 878,069.00 38142UY30 11/03/1999 03-Nov-1999 -878,069.00 MT 03-Nov-1999 0.00 LIQUID OPER-PIMCO -500,000.00 FEDERAL NATL MTG ASSN DISC 04-Nov-1999 499,786.25 313588NV3 MAT 11/04/1999 04-Nov-1999 -499, 786.25 MT 04-Nov-1999 0.00 LONG TERM OPER-PIMCO -6,600,000.00 AMERICAN TEL & TL DISC 04-Nov-1999 6,571,928.00 03018BY45 11/04/1999 04-Nov-1999 -6,571,928.00 MT 04-Nov-1999 0.00 LONG TERM OPER-PIMCO -14,900,000.00 FEDERAL HOME LN MTG CORP DIS 04-Nov-1999 14,835,060.83 313396NV1 MAT 11/04/1999 04-Nov-1999 -14,835,060.83 MT 04-Nov-1999 0.00 LONG TERM OPER-PIMCO -6,300,000.00 DU PONT DE NEMOUR DISC 08-Nov-1999 6,269,392.50 26354BY89 11/08/1999 08-Nov-1999 -6,269,392.50 MT 08-Nov-1999 0.00 LIQUID OPER-PIMCO -900,000.00 GENERAL ELEC CAP DISC 17-Nov-1999 894,435.00 36959JYH0 11/17/1999 17-Nov-1999 -894,435.00 MT 17-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench Responses to Septic Tank Letters As Gf December B, 1999 Notified By City Response #On Septic City or San District Comment, If Any Prop Owner Anaheim y No Data Will research on address basis, if requested 1 Brea y 18 Buena Park N Costa Mesa San y 6 Cypress y 0 Fountain Valley y 0 Fullerton y No Data Will research on address basis, if requested 1 Garden Grove y 43 Huntington Beach y 1 1 Irvine N La Habra y 106 1 La Palma N Los Alamitos y 0 Midway City San N Newport Beach y 0 Orange Pending Needed three more weeks Nov 9, 1999 9 Placentia N Santa Ana y No Data 4 Seal Beach N Stanton y 5 Tustin y Several "To identify each parcel would be extremely time consuming, if not impossible" 2 Villa Park N 1 Westminster N Yorba Linda Water y 817 County of Orange Pending Mike Ruane told Don McIntyre he would supply the data. Total 996 20 December 1, 1999 DISTRIBUTION FAHR COMMITTEE MEETING PACKAGE Full Agenda Package Committee & Mailing List Donald F. McIntyre Blake P. Anderson Dan Dillon Marc Dubois Jeff Esber Steve Kozak Penny Kyle David Ludwin 45 13 1 1 1 1 1 1 2 1 1 (3-hole punched) Greg Mathews Patrick Miles 1 (3-hole punched) Bob Ooten Lisa Tomko Gary Streed Michelle Tuchman Robert Ghirelli Mike White Cagle, Brad Bob Geggie Patricia Jonk Lenora Crane File Extras Notices and Agenda Only 1 1 1 1 (3-hole punched) 1 1 (3-hole punched) 1 1 1 1 1 5 (for meeting hand-out, if necessary) 12 Posting 1 Jean Tappan 1 Anna Ubaldini 1 Frankie Woodside 1 Patricia Magnante 1 Janet Gray 1 Security 1 Extras 5 (for meeting hand-out, if necessary) Ron Zenk, Dist. 14 Treasurer=S Report Only C \\RADON\OATA 1 \WP .DTA\ADMIN\BS\FAHR\OISTRIBUTIONLISTFAHR.DOC ROLL CALL FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE Meeting Date: December 81 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 DEBAY (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 .••••••••...•••••••••..... DAVID LUDWIN, Director of Engineering ...................................... . BOB OOTEN, Director of Operations & Maintenance .................... . LISA TOMKO, Acting 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 ................... . DAWN MCKINLEY, Sr. Human Resources Analyst ...................... .. PENNY KYLE, Committee Secretary .............................................. . c: Lenora Crane I' AGENDA REGULAR MEETING OF THE FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, DECEMBER 8, 1999, AT 5:00 P.M. ADMINISTRATIVE OFF[CE 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 Jess 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 Jess 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). December 8, 1999 (4) APPROVE MINUTES OF PREVIOUS MEETING Approve minutes of the November 10, 1999, Finance, Administration and Human Resources Committee meeting. (5) REPORT OF COMMITTEE CHAIR (6) REPORT OF GENERAL MANAGER (7) REPORT OF ASSISTANT GEMERAL MANAGER (8) REPORT OF DIRECTOR OF FINANCE (9) REPORT OF DIRECTOR OF lrlUMAN R~SOURC'ES (10) REPORT OF QIRECTOR OF COMMUNICATIONS (11) REPORT OF GENERAL COUNSEL (12) CONSENTCALENDAR ITEMS (a-d) 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 includea on the consent calendar. All items removed from the consent calendar shall be considered in the regular order of business. Members of the public who wish to remove an item from the consent calendar shall, upon recognition by the chair, state their name, address and designate by number the item to be removed from the consent calendar. The Chair will determine if any items are to be deleted from the consent calendar. i ! I a. FAHR99-91: Receive and file Treasurer's Report for the month of November 1999. The Treasurer's Report will be distributed 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. 2 ,, ' I 'I b. C. d. FAHR99-92: FAHR99-93: FAHR99-94: December 8, 1999 Receive and file Certificate of Participation {COP) Monthly Report Receive and file Employment Status Report as of November 17, 1999. Receive and file Quarterly Investment Management Program Report for the period July 1, 1999 through September 30, 1999. END OF CONSENT CALENDAR Consideration of items deleted from Consent Calendar, if any. (13) ACTION ITEMS (a-e) a. FAHR99-95: b. FAHR99-96: C. FAHR99-97: d. FAHR99-98: e. FAHR99-99: Consideration of 2000-01 Budget Assumptions, Fiscal Policies, and Calendar (Gary Streed -20 minutes) Authorize staff to retain Moreland & Associates to conduct the independent audit of the District's annual financial statements for an additional three-year period, for an amount not to exceed $42,600 for FY 99/00, $44,300 for FY 00/01, and $46,000 for FY 01/02. (Mike White -10 minutes) Approve an agreement with California Public Employees' Retirement System (CalPERS) authorizing actuarial valuation to determine contribution costs to District if the District were to enter into an agreement with CalPERS, for an amount not to exceed $1,400. (Lisa Tomko - 5 minutes) Receive and file status report on septic tank search, and authorize FAHR Committee Chair to send follow-up letter. (Gary Streed -15 minutes) Receive and file Huntington Beach Closure Investigation Final Report dated December 1999. (Bob Ghirelli -15 minutes) (14) INFORMATIONAL PRESENTATIONS a. FAHR99-100: Y2K Year End Project Status Report (Patrick Miles -10 minutes) 3 December 8, 1999 (15) OTHER BUSINESS. COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS. IF ANY (16) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT (17) FUTURE MEETING DATES The next Finance, Administration and Human Resources Committee Meeting is scheduled for February 9, 2000, at 5 p.m. (18) CLOSED SESSION During the course of conducting the business set forth on this agenda as a regular meeting of the Committee, the ; Chair may convene the Committee in closed session to consider matters of pending real estate negotiations, I 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. M. such time as final actions are taken by the Committee on any of these sub·eets, the minutes will reflect all re uired disclosures of information. A. Convene in closed session. 1. Confer with District's Labor Negotiator (Government Code Section 54957 .6). B. Reconvene in regular session. C. Consideration of action, if any, on matters considered in closed session. (19) 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 (949) 833-9200 (714) 593-7130 4 J MINUTES OF FINANCE. ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, November 10, 1999, 5:30 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on November 10, 1999 at 5:50 p.m., in the District's Administrative Office. (1) The roll was called and a quorum declared present, as follows: (2) FAHR COMMITTEE MEMBERS: Directors Present: Thomas Saltarelli, Chair Mark Leyes, Vice Chair John M. Gullixson Shirley McCracken Jan Debay, Board Chair Peer Swan, Board Vice Chair John J. Collins, Past Board Chair OTHERS PRESENT: Tom Nixon, Assistant General Counsel Director Russell Patterson Director Pat McGuigan Director Don Bankhead Don Hughes Toby Weissert Irv Pickler Paul Watkins Jeff Bower John Coan Greg Harrington Michael Moreland David Olson Ryal Wheeler Chuck Acocello Basin Panis Perry Shokori APPOINTMENT OF CHAIR PRO TEM No appointment was necessary. (3) PUBLIC COMMENTS There were no public comments. Directors Absent: Shawn Boyd Mark A. Murphy James W. Silva 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 Robert Ghirelli, Director of Technical Services Patrick Miles, Director of Information Technology David A. Ludwin, Director of Engineering John Linder, Construction Manager Mike White, Controller Steve Kozak, Financial Manager Greg Mathews, Assistant to General Manager Marc Dubois, Purchasing Manager Penny Kyle, Committee Secretary Minutes of the Finance, Administration and Human Resources Committee Meeting Page 2 November 10, 1999 (4) RECEIVE, FILE AND APPROVE MINUTES OF PREVIOUS MEETING It was moved, seconded and duly carried to approve the minutes of the October 13, 1999 Finance, Administration and Human Resources Committee meeting, as corrected. Director Jan Debay abstained. (5) REPORT OF THE COMMITTEE CHAIR 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 Director of Finance Gary Streed briefly discussed the sale of PIMCO to Allianz. PIMCO is the District's investment manager for both long term and short term investments. Mr. Streed also referred to a revised proposed Ordinance No. OCSD-11 re: Capital Facilities Capacity Charges, that was handed out to the Directors that evening. (9) REPORT OF DIRECTOR OF HUMAN RESOURCES The Director of Human Resources had no report. (10) REPORT OF DIRECTOR OF COMMUNICATIONS The Director of Communications had no report. (11) REPORT OF GENERAL COUNSEL General Counsel had no report. (12) CONSENT CALENDAR ITEMS (Items a-d) a. FAHR99-82: Receive and file Treasurer's Report for the month of October 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 November 10, 1999 b. FAHR99-83: Receive and tile the First Quarter Financial and Operational Report for the period ending September 30, 1999. c. FAHR99-84: Receive and tile Certificate of Participation (COP) Monthly Report. d. FAHR99-85: Adopt Resolution No. OCSD 99-22, Amending Policies Numbers 830.00, C10.00, C20.00, C30.00, C150.00, D50.00, D60.00, D90.00 and FS0.00 of Exhibit A of Resolution No. OCSD 98-33; Adding Policies Numbers C20.10 and C170.00 to Exhibit A of Resolution No. 98-33; Ratifying any Additional Amendments to Exhibit A of Resolution No. OCSD 98-33; and Ratifying that All Future Amendments to Exhibit A of Resolution No. OCSD 98-33 be Made by Resolution re Human Resources Policies and Procedures Manual Providing for Classification, Compensation and Other Terms, Conditions, Policies and Procedures Governing District Employment. Motion: END OF CONSENT CALENDAR Moved, seconded and duly carried to approve the recommended actions for items specified as 12(a) through (d) under Consent Calendar. (13) ACTION ITEMS (Items a-e} a. FAHR99-86: 1} Approve plan to restructure and modernize the District's existing Certificates of Participation long term borrowings; and 2} Authorize the General Manager to execute professional service agreements with PaineWebber, Inc. and Orrick, Herrington & Sutcliffe to implement the COP restructuring plan. Steve Kozak, Finance Manager, gave a brief report. Motion: Moved, seconded and duly carried to approve staffs recommendation. b. FAHR99-87: Receive and tile the District's Comprehensive Annual Financial Report (CAFR} for the year ended June 30, 1999, prepared by staff and audited by Moreland and Associates, Certified Public Accountants. Motion: Moved, seconded and duly carried to amend motion to receive, tile and accept staffs recommendation. d. FAHR99-89: Adopt Resolution No. OCSD 99-23, 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 approve staffs recommendation, as amended, to reflect no change in Professional Services Agreements authority levels. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 4 November 10, 1999 e. FAHR99-90: Approve Ordinance No. OCSD-11, Adopting Capital Facilities Capacity Charges and Repealing Ordinance No. OCSD-09. Paul Watkins, Attorney representing Alstyle Apparel/A&G, Inc., located in Anaheim spoke to the Directors regarding concerns with the proposed ordinance and the capital facilities connection charges. However, the revisions in the revised ordinance handed out to the Directors that evening gave the clarification he and his client were seeking. Directors entered into a discussion regarding the equity issue of the capital facilities connection charges. Motion: Moved, seconded and duly carried to approve staffs recommendation, with staff to provide to the Directors at the November 17'h Board meeting a listing of categories of firms that will be affected by this ordinance. Director Peer Swan opposed. (14) INFORMATION PRESENTATIONS There were no informational presentations. (15) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY There were no supplemental agenda items. (16) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT There were none. (17) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled for December 8, 1999 at 5 p.m. (18) CLOSED SESSION The Chair reported to the Committee the need for a Closed Session, as authorized by Government Code Section 54956.9, to discuss and consider the items that are specified as Item 1 B(A)(1) on the published Agenda. The Committee convened in closed session at 8:08 p.m. , FAHR COMMITTEE Meeting Date To Bd. ofbir. 12/08/99 N/A AGENDA REPORT Item N1;1mber Item Number FAHR99-92 Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager SUBJECT: CERTIFICATES OF PARTICIPATION (COP) MONTHLY REPORT - NOVEMBER 1999 GENERAL MANAGER'S RECOMMENDATION Receive and file Certificates of Participation (COP) Monthly Report for the month of November 1999. SUMMARY Since June 1995, the daily rate COP program remarketing agents have been PaineWebber for the Series AkE and the 1993 Refunding COPs, and J.P. Morgan for the Series AC= COPs. Most fixed rate Series AB= 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. ~ Not applicable (information item) ADDITIONAL INFORMATION For the month of November 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 Aswap.= H:lwp.dtalagendalFAHRIFahr99199ar\FAHR99-92 .. doc ReviMd: 1/5196 Page 1 The second bar chart entitled, ucomparative Daily COP Rate History Report," shows the • performance of the District's Daily Rate COPs as compared to a composite index 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, ucoP Rate History, Comparison of Monthly Averages," shows the monthly variable interest rate performahce 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 liquidity requirements. 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 -OCSD COP Daily Rate History Report 2. Graph -Comparative Daily COP Rate History Report 3. Graph -COP Rate History, Comparison of Highest & Lowest Rates 4. Tabular -COP Rate History, Comparison of Monthly Averages GGS:SK:lc H:lwp.dtalagenda\FAHR\Fah199199al\FAHR99-92.doc Revised: 115198 Page2 Prepared by Finance, 12/1/99, 2:25 PM Oec-98 Jan-99 Feb-99 Mar-99 Apr-99 May-99 Jun-99 Jul-99 Aug-99 Sep-99 Oct-99 Nov-99 AVERAGE DAILY COP RA TE HISTORY COMPARISON OF MONTHLY AVERAGES DECEMBER, 1998 -NOVEMBER, 1999 OCSD $100M $98.5M $46M Series"A" Series"C" Series 93 Ref PaineWebber J.P. Morgan PaineWebber 3.11 3.07 3.11 2.84 2.87 2.84 2.30 2.28 2.30 2.72 2.66 2.72 2.88 2.83 2.88 3.34 3.33 3.34 3.30 3.25 3.30 2.35 2.36 2.35 2.82 2.82 2.82 2.98 2.97 2.98 2.99 3.01 2.99 3.36 3.30 3.36 2.92% 2.90% 2.92% ESTIMATED ANNUAL INTEREST PAYMENTS PER $100M PAR AMOUNT $ 2,915,833 $ 2,895,833 $ 2,915,833 * 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 Composite Index* 3.09 2.87 2.32 2.70 2.86 3.34 3.28 2.36 2.83 2.98 3.03 3.38 2.92% $ 2,920,000 . Western Riverside Co. Reg. Wastewater Auth., Series 96, $25.4M, PaineWebber . Orange Co., Irvine Coast Asst. Dist. 88-1, $94.SM, J.P. Morgan • SCE, $192M, Lehman G:\excel.dta\fin\2220\geggi\Finance\COPdaily$rate comparison FAHR COMMITTEE Meeting Date ToJt. Bds. 12/08/99 12/15/99 AGENDA REPORT-Item Number Item Number FAHR99-91 Orange County Sanitation District FROM: SUBJECT: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager TREASURER'S REPORT FOR THE MONTH OF NOVEMBER 1999 GENERAL MANAGER'S RECOMMENDATION Receive and file Treasurer's Report for the month of November 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 ALiquid Operating Monies= and for the Along-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 current market values are shown as estimated by both PIMCO and Mellon Trust. The District's portfolios are priced to market (11 mark-to- market") as of the last day of each reporting period. The slight differences in value are related to minor variations in pricing assumptions by the valuation sources 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) H:\wp.dtalagenda\FAHR\Fahr99199ar\FAHR99-91.doc Rllllised: 10117197 Page 1 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 30 November 1999) Liquid Operating Monies (603) 15.1.1 PORTFOLIO COST AND MARKET V ALOE Current Market Value Estimate: • PIMCO • Mellon Historical Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST RA TE 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: I Month: 3 Months: 12 Months: Year-to-Date: Commentary $ I 9,286,268 $19,244,003 $19,285,692 $19,280,617 0.15 0.20 $29,187 0% 72% "AAA" 0% Yes Portfolio 0.42 1.34 5.05 4.61 • Interest rates rose·across all maturities in November in response to the 25 basis point fed Funds rate increase on November 16'h (e.g. 3-month Treasury Bill rates rose 21 basis points). • The Liquid portfolio outperfonned its benchmark by 2 basis points in November. • PIMCO's emphasis on corporates and agencies added to portfolio returns. • PIMCO will continue to hold high quality commercial paper and short-tenn notes to enhance returns. H:I ... \FINANCE\ •. IREVISED UQJ /99.RPT "' Index 0.40 1.20 4.67 4.28 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 30 November 1999) Long-Term Operating Monies (203) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • PIMCO • Mellon 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: I Month: 3 Months: 12 Months: Year-to-Date: Commentary • With iT1lerest rates rising across all maturities again in November, the bond market continued to show weaker returns . • The Long-Term portfolio outperformed its benchmark by 14 basis points in November. • PIMCO's emphasis on mortgage-backed securities, agencies, and corporates added to portfolio returns, as these were the best performing sectors. • PIMCO will continue to emphasize mortgage-backed securities to enhance returns. H:1... IFINANCE\2101 .. \REVISED L-T/199.RPT $269,332,804 $269,315,570 $273,517,481 $274,018,117 2.25 2.37 $6,141,799 0% 31% "AAA" 0% Yes Portfolio Index 0.30 0.16 1.57 1.21 2.74 2.55 2.33 2.17 @ .. ORANGE COUNTY SANITATION DISTRICT PAGE: 1 BASE: USD NET ASSET SECTOR SUMMARY OCSF0751 l 102 30-NOV-1999 FINAL LIQUID OPER-PJMCO %OF UNREALIZED PORTFOLIO DISTRIBUTION COST MARKET VALUE TOTAL GAIN/LOSS CASH & CASH EQUIVALENTS UNITED STATES COMMERCIAL PAPER -DISCOUNT 2,688,423.92 2,688,423.92 13.82% 0.00 TREASURY BILLS-LESS THN IYR 3,411,181.67 3,4ll,l81.67 17.53% 0.00 FEDERAL HOME LOAN MORTGAGE -LESS 2,486,396.11 2,486,396.11 12.78% 0.00 FNMA ISSUES -LESS THN 1 YR 1,688,510.11 1,688,5 I 0.11 8.68% 0.00 MUTUAL FUNDS 92,461.43 92,461.43 0.48% 0.00 TOT AL UNITED STA TES 10,366,973.24 10,366,973.24 53.28% 0.00 TOTAL CASH & CASH EQUIVALENTS 10,366,973.24 10,366,973.24 53.28% 0.00 FIXED INCOME SECURITIES UNITED STATES U.S. AGENCIES 4,688,174.00 4,692,574.00 24.12% 4,400.00 ABS: CAR LOAN 905,913.00 905,580.00 4.65% -333.00 BANKING & FINANCE 1,949,359.25 1,924,170.75 9.89% -25,188.50 INDUSTRIAL 1,370,198.00 1,354,705.00 6.96% -15,493.00 TOTAL UNITED STATES 8,913,644.25 8,877,029.75 45.63% -36,614.50 TOTAL FIXED INCOME SECURITIES 8,913,644.25 8,877,029.75 45.63% -36,614.50 OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES 212,274.92 212,274.92 1.09% 0.00 TOTAL 212,274.92 212,274.92 1.09% 0.00 TOTAL OTHER PORTFOLIO ASSETS 212,274.92 212,274.92 1.09% 0.00 NET PORTFOLIO ASSETS 19,492,892.41 19,456,277.91 100.00% -36,614.50 07-Dec-1999 JJ:19:34 Executive Wo,-kbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 1 BASE: USD NET ASSET SECTOR SUMMARY OCSF07522202 30-NOV-1999 FINAL LONG TERM OPER-PIMCO %OF UNREALIZED PORTFOLIO DISTRIBUTION COST MARKET VALUE TOTAL GAIN/LOSS CASH & CASH EQUIVALENTS CASH 7,607.46 7,607.46 0.00% 0.00 RECEIVABLES 53,826.27 53,826.27 0.02% 0.00 PAYABLES -26, 790,634.38 -26,790,634.38 -9.82% 0.00 TOTAL -26, 729,200.65 -26,729,200.65 -9.79% 0.00 UNITED STATES COMMERCIAL PAPER -DISCOUNT 20,706,522.37 20,706,522.37 7.59% 0.00 FEDERAL HOME LOAN MORTGAGE -LESS 7,165,614.00 7,165,614.00 2.63% 0.00 MUTUAL FUNDS 13,012,927.85 13,012,927.85 4.77% 0.00 TOTAL UNITED STATES 40,885,064.22 40,885,064.22 14.98% 0.00 TOTAL CASH & CASH EQUIVALENTS 14,155,863.57 14,155,863.57 5.(9% 0.00 FIXED INCOME SECURITIES UNITED STATES U.S. GOVERNMENTS 66,4 l 0, 142.33 64,638,698.04 23.68% -1,771,444.29 U.S. AGENCIES 66,5 l 0,402.4 l 65,408,679.15 23.97% -1, IOI, 723.26 GNMA SINGLE FAMILY POOLS 20,256,875.00 20,431,665.00 7.49% 174,790.00 GNMA MULTI FAMILY POOLS 3,827,614.21 3,796,652.35 1.39% -30,961.86 FHLMCPOOLS 9,277,150.99 9,115,425.99 3.34% -161,725.00 FHLMC MUL TICLASS 8,347,102.86 8,223,852.83 3.01% -123,250.03 FNMA POOLS 970,358.64 973,917.40 0.36% 3,558.76 ASSET BACKED SECURITIES 78,602.22 78,552.71 0.03% -49.51 ABS: HOME EQUITY 465,766.73 464,746.70 0.17% -1,020.03 MUTUAL FUNDS 1,000,000.00 988,540.00 0.36% -l l,460.00 BANKING & FINANCE 56,039,764.00 55,770,806.00 20.43% -268,958.00 INDUSTRIAL 17,029,969.00 15,922,340.60 5.83% -1, l 07,628.40 UTILITY -ELECTRIC 2,151,250.00 1,958,180.00 0.72% -193,070.00 UTILITY -TELEPHONE 7,497,255.00 7,387,650.00 2.71% -109,605.00 TOT AL UNITED ST ATES 259,862,253.39 255,159,706.77 93.49% -4, 702,546.62 TOTAL FIXED INCOME SECURITIES 259,862,253.39 255,159,706.77 93.49% -4, 702,546.62 07-Dec-1999 11:21:41 Executive Workbench YLDANAL OCSF07511102 DISTRICT: LIQUID OPERATING YIELD ANALYSIS 1999/11/30 PAGE RUN DATE RUN TIME 1 12/03/99 13.08.19 ------------------------------------------------------===-=--------====-====================-----====------------------------ PAR VALUE SECURITY ID SECURITY DESCRIPTION CASH & CASH EQUIVALENTS 92,461.43 DREYFUS TREASURY CASH MGMT 996085247 3,500,000.00 US TREASURY BILLS 912795DK4 03/02/2000 DD 03/04/99 800,000.00 FEDERAL NATL MTG ASSN DISC 313588QQ1 HAT 12/17/1999 900,000.00 FEDERAL NATL MTG ASSN DISC 313588QN8 HAT 12/15/1999 903,000.00 NIKE INC DISC 6541D3Z66 12/06/1999 900,000.00 NATIONAL RURAL DISC 63743DZ87 12/08/1999 2,500,000.00 FEDERAL HOME LN MTG CORP DISC 313396QH9 HAT 12/10/1999 900,000.00 GENERAL ELEC CAP DISC 36959JZF3 12/15/1999 TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES l,000,000.00 FEDERAL HOME LN MTG CORP DEBS 3134A3RT5 FLTG RT 05/18/2000 DD 05/18/99 900,000.00 GENERAL MTRS ACCEP CORP MTN 37042M7G2 6.250% 01/11/2000 DD 01/11/94 850,000.00 PHILLIP MORRIS CO INC NTS 718154BX4 7.125% 12/01/1999 DD 12/01/92 500,000.00 TRANSAMERICA FIN MTN tSBOOllO 89350MEP1 8.450% 01/12/2000 DD 01/12/95 YTM AT BOOK .000 5.094 5.239 5.252 5.326 5.338 5.471 5. 493 5.123 .000 .ooo 5.258 5.653 CURRENT MOODY MARKET YIELD S-P PRICE 5.341 .ooo .000 .000 .ooo .000 .000 .000 .086 4,707 6.253 7.125 8.436 AAA AAA P-1 A-1+ P-1 A-1+ P-1 A-1+ P-1 P-1 A-1+ P-1 AAA AAA A2 A A2 A A3 A 100.000 97.462 99.249 99.391 99.514 99.293 99.456 99.575 99.953 99,959 100.000 100.171 TOTAL COST/ MARKET VALUE 92,461.43 92,461.43 3,411,181.67 3,411,181.67 793,991.11 793,991.11 894,519.00 894,519.00 898,612.92 898,612.92 893,640.00 893,640.00 2,486,396.11 2,486,396.11 896,171.00 896,171.00 10,366,973.24 10,366,973.24 999,200.00 999,530.00 909,657.00 899,631.00 863,753.00 850,000.00 515,125.00 500,855.00 % TYPE % TOTAL .89 ,48 32.90 17.73 7.65 4 .13 8.62 4.65 8.66 4,67 8.62 4,64 23.98 12.92 8.64 4,66 100.00 53.88 11.25 5.19 10.13 4,67 9. 57 4.42 5.64 2.60 YLDANAL OCSF07511102 DISTRICT: LIQUID OPERATING YIELD ANALYSIS 1999/11/30 PAGE RUN DATE RUN TIME 2 12/03/99 13.08.19 ===-=======-=====--====--====-----=-------------------------------------=-----===---==----===---====--====-================== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -------------------------------------------------------------~---------------------------- 3,700,000.00 FEDERAL HOME LN BK CONS BOS 5.815 4.844 AAA 99.812 3,688,974.00 41.60 3133M7EW2 4.835% 01/28/2000 DD 01/28/99 AAA 3,693,044.00 19 .19 900,000.00 FORD MTR CR MTN f TR 00538 6.312 6.977 Al 100.620 905,913.00 10.20 345402YK1 7.020% 10/10/2000 DD 10/10/95 A 905,580.00 4.71 400,000.00 LEHMAN BROS HLDGS MTN TR 00252 6.353 6.413 A3 99.799 400,216.00 4.49 52517PLM1 6.400% 08/30/2000 DD 09/26/97 A 399,196.00 2.07 500,000.00 INTERNATIONAL PAPER CO NT 6.535 9.610 A3 100.941 506,445.00 5.68 460146AJ2 9.700% 03/15/2000 DD 03/21/90 BBB+ 504,705.00 2.62 125,000.00 FINOVA CAP CORP 6.924 6 .401 BAAl 99.591 124,361.25 1.40 318074AF8 6.375% 10/15/2000 DD 10/11/95 A-124,488.75 .65 ----------------------------------- TOTAL FIXED INCOME SECURITIES 3 ,905 5,810 8,913,644 .25 100,00 8,877,029.75 46,12 ---------------------------------·-------TOTAL 4.492 3.055 19,280,617.49 100.00 19,244,002.99 100.00 ==:.=====~=====-= ==--=== YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING YIELD ANALYSIS 1999/11/30 PAGE RUN DATE RUN TIME 3 12/03/99 13.0B.19 ====================================--===-====--===--===---==---==---===-====-====--===---==---==---==----==--==---===-===--= PAR VALUE SECURITY ID SECURITY DESCRIPTION CASH & CASH EQUIVALENTS 13,012,927.85 DREYFUS TREASURY CASH MGMT 996085247 7,200,000.00 FEDERAL HOME LN MTG CORP DISC 313396QE6 MAT 12/07/1999 6,400,000.00 ALUMINUM CO AMER DISC 02225BZ37 12/03/1999 500,000.00 HEINZ HJ CO DISC 42307KZ1B 12/01/1999 5,400,000.00 NATIONAL RURAL DISC 63743DZ87 12/08/1999 800,000.00 PROCTER & GAMBLE DISC 74271SZDO 12/13/1999 7,7001 000.00 PROCTER & GAMBLE DISC 74271SZA6 12/10/1999 TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES 2,000,000.00 066365DW4 730,000.00 11F0116C6 3,500,000.00 17120QE80 2,000,000.00 345397RV7 2,000,000.00 345397SC8 BANKERS TR NY CORP GLOBAL NT FLTG RT 05/11/2003 DD 05/11/98 COMMIT TO PUR FNMA 11TH DIST VAR RT 12/25/2028 CHRYSLER FINL LLC MTN tTR00615 FLTG RT 08/08/2002 DD 04/08/98 FORD MTR CR CO GLOBAL NTS FLTG RT 02/13/2003 DD 02/13/98 FORD MTR CR CO TERM ENHANCED FLTG RT 08/27/2006 DD 08/27/98 YTM AT BOOK .ooo 5.235 5.289 5.308 5.341 5.372 5.469 2.797 .000 .000 .000 .000 .ooo CURRENT MOODY MARKET YIELD S-P PRICE 5.341 .000 .ooo .ooo .000 .000 .ooo 2.517 5.802 6.109 5.555 6.226 6 .217 AAA AAA P-1 A-1+ P-1 P-1 P-1 P-1 P-1 Al A- AAA AAA Al A+ Al A Al A 100.000 99. 522 99.634 99.472 99.308 99.599 99.652 99.892 100.840 99.859 99.500 99.828 TOTAL COST/ MARKET VALUE 13,012,927.85 13,012,927.85 7,165,614.00 7,165,614.00 6,376,577.78 6,376,577.78 497,360.00 497,360.00 5,362,605 .56 5,362,605.56 796,790.00 796,790.00 7,673,189.03 7,673,189.03 40,885,064.22 40,885,064.22 1,992,800.00 1,997,840.00 715,400.00 736,132.00 3,498,635.00 3,495,065.00 1,992,580.00 1,990,000.00 1,998,613.60 1,996,560.00 % TYPE % TOTAL 31.82 4.40 17.52 2.42 15.59 2.15 1.21 .17 13.11 1.81 1.94 .27 18.76 2.59 100.00 13.81 .78 .67 .28 .25 1.36 1. 18 .77 .67 .78 .67 YLDANAL YIELD ANALYSIS PAGE 4 OCSF07522202 1999/11/30 RUN DATE 12/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 13.08.19 --==---====----==-=----====:=-----==== ==---=====--========= PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ---------------------------------------------------------------------------------------------- 3,000,000.00 GENERAL MTRS ACCEP MTN ,000 5,578 A2 100. 312 3,010,830.00 1.17 37042WVR9 FLTG RT 12/17/2001 DD 12/15/98 A 3,009,360.00 1.02 3,950,000.00 GENERAL MTRS ACCEP CORP NTS ,000 5.568 A2 99.988 3,918,768.50 1. 54 370425QV5 FLTG RT 08/18/2003 DD 08/17/98 A 3,949,526.00 1.33 2,000,000.00 HELLER FINANCIAL INC NTS ,000 5.450 A3 100.510 2,000,000.00 ,78 423328BK8 FLTG RT 06/25/2001 DD 06/25/99 A-2,010,200.00 .68 3,000,000.00 HELLER FINL MTN tTR 00246 .000 5.658 A3 100.656 3,000,000.00 1.18 42333HLF7 FLTG RT 04/28/2003 DD 04/27/99 A-3,019,680.00 1.02 4,000,000.00 HOUSEHOLD FIN CO MTN ,000 5.440 A2 100.152 4,000,000.00 1. 57 44181KZA5 FLTG RT 06/24/2003 DD 06/24/98 A 4,006,080.00 1.35 1,000,000.00 HOUSEHOLD FIN MTN SR 100570 .ooo 5.730 A2 100.242 999,188,90 .39 44181KZT4 FLTG RT 08/01/2001 DD 09/04/98 A 1,002,420.00 .34 7,337,330.00 US TREASURY INFLATION INDEX NT 3.697 3.654 AAA 99.203 7,314,173.77 2.85 9128273A8 3.625% 07/15/2002 DD 07/15/97 AAA 7,278,851.48 2.46 10,595,700.00 US TREASURY INFLATION INDEX NT 3.721 3.546 AAA 95 .187 10,316,675 .00 3.95 9128272M3 3.375% 01/15/2007 DD 01/15/97 AAA 10,085,728.96 3.41 4,000,000.00 HORGAN STANLEY MTN tTR 00299 5,170 5.476 AA3 99.703 3,997,788.00 1.56 61745ENL1 FLTG RT 04/15/2002 DD 04/15/99 A+ 3,988,120.00 1.35 5,000,000.00 US TREASURY BONDS 5.234 9.602 AAA 115. 859 6,233,593.75 2.27 9l2810DE5 11.125% 08/15/2003 DD 07/05/83 AAA 5,792,950.00 1.96 2,100,000.00 US TREASURY NOTES 5.294 6.338 AAA 100.578 2,167,321.15 .82 912827Z54 06,375% 09/30/2001 DD 09/30/96 AAA 2,112,138.00 • 71 5,200,000.00 US TREASURY BONDS 5.617 9,958 AAA 119. 250 6,698,250.00 2.43 912810DGO 11.875% 11/15/2003 DD 10/05/83 AAA 6,201,000.00 2.09 1,500,000.00 ASSOCIATES CORP N A SR NTS 5.650 6.544 AA3 99.323 1,543,215.00 .58 046003HY8 6.500% 07/15/2002 DD 07 /11/97 AA-1,489,845.00 .50 1,000,000.00 HELLER FINANCIAL INC HTS 5.760 5.869 A3 97.970 999,730.00 .38 42333HKJO 5.750% 09/25/2001 DD 09/25/98 A-979,700.00 .33 1,200,000.00 US TREASURY NOTES 5.768 6.450 AAA 100.781 1,213,406.25 ,47 912827Y22 06.500% 05/31/2001 DD 05/31/96 AAA 1,209,378.00 • 41 YLDANAL YIELD ANALYSIS PAGE 5 0CSF07522202 1999/11/30 RUN DATE 12/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 13.08.19 =======---------===------------------------------------------------------------=====-------=====-------=======-============== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ---------------------------------------------------------------------·------~-------------- 2,005,000.00 SEARS ROEBUCK ACCEP CORP MTN 5.804 6,686 A2 97.812 2,060,739.00 .76 81240QGW6 6.540% 02/20/2003 DD 02/20/97 A-1,961,130.60 .66 23,430,000.00 US TREASURY NOTES 5.807 5.664 AAA 99.312 23,351,289.85 9.11 9128275Ql 05.625% 09/30/2001 DD 09/30/99 AAA 23,268,801.60 7.86 5,ooo,ooo.oo US TREASURY NOTES 5.811 6.221 AAA 100.469 5,086,402.25 1.96 9128272L5 06.250% 02/28/2002 DD 02/28/97 AAA 5,023,450.00 1.70 3,000,000.00 SEARS ROEBUCK ACCEP CORP MTN 5 ,849 6. 727 A2 98.562 3,073,170.00 1.15 81240QJA1 6,630% 07/09/2002 DD 07/09/97 A-2,956,860.00 1.00 14,750,000.00 FEDERAL NATL MTG ASSN MTN 5,882 6.284 AAA 90.859 14,560,462.50 5.25 31364GLD9 5.710% 12/15/2008 DD 12/15/98 AAA 13,401,702.50 4.53 6,000,000.00 NATIONSBANK CHARLOTTE NC MTN 5.882 5.856 AAl 99.890 5,996,400.00 2.34 63858JDE6 5.850% 04/07/2000 DD 04/07/98 AA-5,993,400.00 2.02 620,983.80 FHLMC MULTICL MTG P/C 1574 E 5.912 5.924 99.593 620,110.53 .24 3133T02D5 5.900% 06/15/2017 618,456 .40 .21 15,000,000.00 FEDERAL NATL MTG ASSN MTN 5.981 5.867 AAA 99.203 14,955,300.00 5.83 31364G2VO 5.820% 07/19/2001 DD 07/19/99 AAA 14,880,450.00 5.03 2,500,000.00 MERRILL LYNCH NOTES 5.995 6.415 AA3 99.383 2,526,725.00 .97 59018SXP4 6,375% 10/01/2001 DD 10/03/97 AA-2,484,575.00 • 84 1,613,647.35 GNMA II POOL t0080023 6.005 6.042 AAA 101.375 1,640,373.39 .64 36225CAZ9 6.125% 12/20/2026 DD 12/01/96 AAA 1,635,835.00 .55 7,500,000.00 BELLSOUTH TELECOMMUNICATIONS 6.010 6,091 AAA 98.502 7,497,255.00 2.89 079867AX5 6.000% 06/15/2002 DD 06/15/98 AAA 7,387,650.00 2.50 12,500,000.00 FEDERAL HOME LN MTG CORP DEBS 6.062 6.032 AAA 99.470 12,485,625.00 4.87 3134A3ZM1 6,000% 07/20/2001 DD 07/20/99 AAA 12,433,750.00 4.20 2,000,000.00 BANKBOSTON CORP SR NTS 6.133 6.220 A2 98.477 1,999,600.00 .77 06605TAL6 6.125% 03/15/2002 DD 03/12/99 A 1,969,540.00 .67 78,602.23 FIFTH THIRD BK AUTO TR 96A CLA 6 ,200 6.204 AAA 99.937 78,602.22 .03 31677EAA4 6.200% 09/01/2001 DD 03/15/96 78,552.71 .03 1,000,000.00 POPULAR INC MTN fTR 00004 6.201 6.272 A3 98.854 1,000,000.00 .38 73317PAD1 6.200% 04/30/2001 DD 04/21/99 BBB+ 988,540.00 .33 YLDANAL YIELD ANALYSIS PAGE 6 OCSF07522202 1999/11/30 RUN DATE 12/03/99 DISTRICT: LONG-TERM OPERATING RUN TIME 13.08.19 --------------------------------------------------------------------------===---======-======-======---===----------==----=== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -----------------~--------------------------------------------·----------------------------- 2,500,000.00 FHLMC MULTICLASS CTF 2146 QT 6,207 6.101 AAA 98.343 2,455,859.38 .96 3133TKKU3 6,000% 11/15/2011 AAA 2,458,575.00 .83 6,250,000.00 COMMIT TO PUR GNHA SF MTG 6.275 6.053 AAA 99.125 5,818,359.38 2.42 01N0606C5 6.000% 12/15/2028 AAA 6,195,312.50 2.09 465,766.73 GREEN TREE CORP 99-D CL A-1 6.290 6.304 AAA 99.781 465,766.73 .18 3935052Y7 6.290% 10/15/2013 DD 08/26/99 AAA 464,746.70 .16 4,500,000.00 FEDERAL NATL MTG ASSN MTN 6,291 6,259 AAA 99,531 4,488,705.00 1.75 31364CXV5 6.230% 03/01/2002 DD 03/03/97 AAA 4,478,895.00 1.51 3,266,672.18 FHLHC MULTICLASS CTF E3 A 6.316 6.039 AAA 98.496 3,270,244.95 1.26 3133TCE95 6 .324% 08/15/2032 AAA 3,217,541.43 1.09 2,000,000.00 BEAR STEARNS COS INC 6.330 6.845 A2 98.607 2,031,960.00 • 77 073902AH1 6.750% 04/15/2003 A 1,972,140.00 .67 5,000,000.00 LEHMAN BROS HLDGS MTN t00196 6.364 6.658 A3 99 .875 5,039,450.00 1.95 52517PJD4 6.650% 11/08/2000 DD 11/08/96 A 4,993,750.00 1.69 2,000,000.00 FHLMC MULTICLASS CTF Tll A6 6.496 6.738 AAA 96.464 2,000,888.00 .75 3133TDPV2 6 .500% 09/25/2018 AAA 1,929,280.00 .65 21,500,000.00 COMMIT TO PUR GNHA SF MTG 6.518 6.840 AAA 95.031 20,256,875.00 8.00 01N062615 6,500% 01/15/2029 AAA 20,431,665.00 6.90 2,362,872.94 FHLMC MULTICLASS CTF SER 1620Z 6.537 7.004 AAA 85.669 2,206,733.00 .79 3133Tl7A4 6,000% 11/15/2023 DD 11/01/93 AAA 2,024,249.62 .68 9,000,000.00 PHILIP MORRIS COS NT 6.593 9.198 A2 100,567 9,903,780.00 3.54 7181548B2 9,250% 02/15/2000 A 9,051,030.00 3.06 9,134,425,60 FHLMC GROUP tG5-0476 6,628 7.015 AAA 99. 792 9,277,150.99 3.57 3128DDQ55 7.000% 02/01/2003 DD 02/01/98 AAA 9,115,425.99 3.08 2,140,419, 16 GNHA II POOL t080088M 6.705 6,315 AAA 100,953 2,187,240.82 . 84 36225CC20 6.375% 06/20/2027 DD 06/01/97 AAA 2,160,817.35 . 73 10,500,000.00 FEDERAL HOME LN MTG CORP DEBS 6. 711 6.421 AAA 98,109 10,323,075.00 4.03 3134A3TCO 6.300% 06/01/2004 DD 06/01/99 AAA 10,301,445.00 3.48 2,000,000.00 HARSH & MCLENNAN COS INC SR NT 6.717 6. 783 A2 97.666 1,992,280.00 .76 571748AB8 6,625% 06/15/2004 DD 06/14/99 AA-1,953,320.00 .66 YLDANAL YIELD ANALYSIS PAGE 7 OCSF07522202 1999/11/30 RUN DATE 12/03/99 DISTRICT I LONG-TERM OPERATING RUN TIME 13.08.19 === PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ---~----------------------------------------·-----------~------------------~------------------ 3,000,000.00 FORD MTR CR CO GLOBAL LANDMARK 6. 739 6.786 Al 98.736 2,995,080.00 1.16 345397SJ3 6 .700% 07/16/2004 DD 07/16/99 A 2,962,080.00 1.00 2,500,000.00 COUNTRYWIDE HOME LNS INC NT 6.866 6.959 A3 98.437 2,498,400.00 .96 22237UAB8 6.8501 06/15/2004 DD 06/24/99 A 2,460,925.00 .83 990,951.86 FNMA POOL 10252703 6.877 6.614 AAA 98.281 970,358.64 .38 31371HU48 6.5001 09/01/2006 DD 08/01/99 AAA 973,917.40 .33 2,500,000.00 US TREASURY BONDS 6.906 9.035 AAA 146.656 4,029,030.31 1. 43 912810DJ4 13.2501 05/15/2014 DD 05/15/84 AAA 3,666,400.00 1.24 2,000,000.00 LONG ISLAND LTG CO DEB 7.512 8 .375 BAA3 97.909 2,151,250.00 .76 542671CT7 8.2001 03/15/2023 DD 03/28/93 A-1,958,180.00 .66 977,983.10 WMP/HUNTOON PAIGE t000-11150 7.684 7.667 AAA 97.828 956,742.53 .37 302998GE3 7.5001 12/01/2030 DD 10/21/99 AAA 956,742.53 .32 ---------------~---------------------- TOTAL FIXED INCOME SECURITIES 4.538 6.067 259,862,253.39 100.00 255,159,706.77 86.19 -------------------------------~- TOTAL 4.491 5.972 300,747,317.61 100.00 296,044,770.99 100.00 ==-=====-=-=---------- @ ORANGE COUNTY SANITATION DISTRICT PAGE: 2 PORTFOLIO DETAIL OCSG0O0 I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LIQUID OPER-PIMCO 20,521.97 DREYFUS TREASURY CASH MGMT 01-Nov-1999 -20,521.97 996085247 01-Nov-1999 0.00 FC 01-Nov-1999 0.00 LIQUID OPER-PIMCO 10,992.09 DREYFUS TREASURY CASH MGMT 02-Nov-1999 -10,992.09 996085247 02-Nov-1999 10,992.09 B 0.00 LIQUID OPER-PIMCO 10,992.09 DREYFUS TREASURY CASH MGMT 02-Nov-1999 -10,992.09 996085247 02-Nov-1999 0.00 FC 02-Nov-1999 0.00 LONG TERM OPER-PIMCO 1,543.20 DREYFUS TREASURY CASH MGMT 02-Nov-1999 -1 ,543.20 996085247 02-Nov-1999 1,543.20 B 0.00 LONG TERM OPER-PIMCO 1,543.20 DREYFUS TREASURY CASH MGMT 02-Nov-1999 -1 ,543.20 996085247 02-Nov-1999 0.00 FC 02-Nov-1999 0.00 LIQUID OPER-PIMCO 2,000,000.00 FEDERAL HOME LN MTG CORP DIS 02-Nov-1999 -1,989,001.11 313396QH9 MAT 12/10/1999 02-Nov-1999 1,989,001.11 B CREDIT SUISSE FIRST BOSTON C 0.00 LIQUID OPER-PIMCO 2,000,000.00 FEDERAL HOME LN MTG CORP DIS 02-Nov-1999 -1,989,001.11 313396QH9 MAT 12/10/1999 02-Nov-1999 0.00 FC CREDIT SUISSE FIRST BOSTON C 02-Nov-1999 0.00 07-Dec-1999 I 1:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 3 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 13,810.94 DREYFUS TREASURY CASH MGMT 03-Nov-1999 -13,810.94 996085247 03-Nov-1999 13,810.94 B 0.00 LONG TERM OPER-PIMCO 13,810.94 DREYFUS TREASURY CASH MGMT 03-Nov-1999 -13,810.94 996085247 03-Nov-1999 0.00 FC 03-Nov-1999 0.00 LIQUID OPER-PIMCO 6,868.08 DREYFUS TREASURY CASH MGMT 03-Nov-1999 -6,868.08 996085247 03-Nov-1999 6,868.08 B 0.00 LIQUID OPER-PIMCO 6,868.08 DREYFUS TREASURY CASH MGMT 03-Nov-1999 -6,868.08 996085247 03-Nov-1999 0.00 FC 03-Nov-1999 0.00 LIQUID OPER-PIMCO 903,000.00 NIKE INC DISC 03-Nov-1999 -898,612.92 654103266 12/06/1999 03-Nov-1999 898,612.92 B GOLDMAN SACHS & CO, NY 0.00 LIQUID OPER-PIMCO 903,000.00 NIKE INC DISC 03-Nov-1999 -898,612.92 6541D3Z66 12/06/1999 03-Nov-1999 0.00 FC GOLDMAN SACHS & CO, NY 03-Nov-1999 0.00 LIQUID OPER-PIMCO 900,000.00 FEDERAL NATL MTG ASSN DISC 03-Nov-1999 -894,519.00 313588QN8 MAT 12/15/1999 03-Nov-1999 894,519.00 B MORGAN STANLEY & CO INC, NY 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 4 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LIQUID OPER-PIMCO 900,000.00 FEDERAL NATL MTG ASSN DISC 03-Nov-1999 -894,519.00 313588QN8 MAT 12/15/1999 03-Nov-1999 0.00 FC MORGAN STANLEY & CO INC, NY 03-Nov-1999 0.00 LIQUID OPER-PIMCO 2,605.00 DREYFUS TREASURY CASH MGMT 04-Nov-1999 -2,605.00 996085247 04-Nov-1999 2,605.00 B 0.00 LIQUID OPER-PIMCO 2,605.00 DREYFUS TREASURY CASH MGMT 04-Nov-1999 -2,605.00 996085247 04-Nov-1999 0.00 FC 04-Nov-1999 0.00 LIQUID OPER-PIMCO 500,000.00 FEDERAL HOME LN MTG CORP DIS 04-Nov-1999 -497,395.00 313396QH9 MAT 12/10/1999 04-Nov-1999 497,395.00 B CREDIT SUISSE FIRST BOSTON C 0.00 LIQUID OPER-PIMCO 500,000.00 FEDERAL HOME LN MTG CORP DIS 04-Nov-1999 -497,395.00 313396QH9 MAT 12/10/1999 04-Nov-1999 0.00 FC CREDIT SUISSE FIRST BOSTON C 04-Nov-1999 0.00 LONG TERM OPER-PIMCO 12,500,000.00 HEINZ H J CO DISC 04-Nov-1999 -12,454, 166.66 42307KYV3 11/29/1999 04-Nov-1999 12,454,166.66 B MORGAN J P SECS -FIXED INCO 0.00 LONG TERM OPER-PIMCO 12,500,000.00 HEINZ H J CO DISC 04-Nov-1999 -12,454, 166.66 42307KYV3 11/29/1999 04-Nov-1999 0.00 FC MORGAN J P SECS -FIXED INCO 04-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 6 PORTFOLIO DETAIL OCSG000 I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 924,062.88 DREYFUS TREASURY CASH MGMT 15-Nov-1999 -924,062.88 996085247 15-Nov-1999 0.00 FC 15-Nov-1999 0.00 LONG TERM OPER-PIMCO 24,137.44 BSDT-LATE MONEY DEP ACCT 15-Nov-1999 -24,137.44 996087094 VAR RT DD 06/26/1997 15-Nov-1999 24,137.44 B 0.00 LONG TERM OPER-PIMCO 800,000.00 PROCTER & GAMBLE DISC 16-Nov-1999 -796,790.00 74271SZD0 12/13/1999 16-Nov-1999 796,790.00 B MORGAN JP SECS -FIXED INCO 0.00 LONG TERM OPER-PIMCO 800,000.00 PROCTER & GAMBLE DISC 16-Nov-1999 -796,790.00 74271SZD0 12/13/1999 16-Nov-1999 0.00 FC MORGAN J P SECS -FIXED INCO 16-Nov-1999 0.00 LIQUID OPER-PIMCO 3,829.00 DREYFUS TREASURY CASH MGMT 17-Nov-1999 -3,829.00 996085247 17-Nov-1999 3,829.00 B 0.00 LIQUID OPER-PIMCO 3,829.00 DREYFUS TREASURY CASH MGMT 17-Nov-1999 -3,829.00 996085247 17-Nov-1999 0.00 FC 17-Nov-1999 0.00 LONG TERM OPER-PIMCO 15,101.52 BSDT-LATE MONEY DEP ACCT 17-Nov-1999 -15, 101.52 996087094 VAR RT DD 06/26/1997 17-Nov-1999 15,101.52 B 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 8 PORTFOLIO DETAIL OCSG000 I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 15,101.52 DREYFUS TREASURY CASH MGMT 18-Nov-1999 -15, 101.52 996085247 18-Nov-1999 0.00 FC 18-Nov-1999 0.00 LONG TERM OPER-PIMCO 56,217.98 DREYFUS TREASURY CASH MGMT 19-Nov-1999 -56,217.98 996085247 19-Nov-1999 56,217.98 B 0.00 LONG TERM OPER-PIMCO 56,217.98 DREYFUS TREASURY CASH MGMT 19-Nov-1999 -56,217.98 996085247 19-Nov-1999 0.00 FC 19-Nov-1999 0.00 LONG TERM OPER-PIMCO 40,065.03 DREYFUS TREASURY CASH MGMT 22-Nov-1999 -40,065.03 996085247 22-Nov-1999 40,065.03 B 0.00 LONG TERM OPER-PIMCO 40,065.03 DREYFUS TREASURY CASH MGMT 22-Nov-1999 -40,065.03 996085247 22-Nov-1999 0.00 FC 22-Nov-1999 0.00 LONG TERM OPER-PIMCO I, 140.62 DREYFUS TREASURY CASH MGMT 23-Nov-1999 -1,140.62 996085247 23-Nov-1999 1,140.62 B 0.00 LONG TERM OPER-PIMCO I, 140.62 DREYFUS TREASURY CASH MGMT 23-Nov-1999 -1,140.62 996085247 23-Nov-1999 0.00 FC 23-Nov-1999 0.00 07-Dec-1999 I 1:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: JO PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 11,000,000.00 COMMIT TO PUR GNMA SF MTG 04-0ct-1999 -10,484,375.00 01N0626B3 6.500% 11/01/2029 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 395,040.89 GNMA POOL #0509944 04-0ct-1999 -376,523.35 3621 IDP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 376,523.35 B BEAR STEARNS & CO INC, NY 0.00 LONG TERM OPER-PIMCO 395,040.89 GNMA POOL #0509944 04-0ct-1999 -l,497.86 3621 IDP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 0.00 18 0.00 LONG TERM OPER-PIMCO 395,040.89 GNMA POOL #0509944 04-0ct-1999 -378,021.21 36211DP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 32,596.21 GNMA POOL #0471550 04-0ct-1999 -31,068.26 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 31,068.26 B BEAR STEARNS & CO INC, NY 0.00 LONG TERM OPER-PIMCO 32,596.21 GNMA POOL #0471550 04-0ct-1999 -123.59 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 18 0.00 LONG TERM OPER-PIMCO 32,596.21 GNMA POOL #0471550 04-0ct-1999 -31, 191.85 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 11 PORTFOLIO DETAIL OCSG000J 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 572,457.41 GNMA POOL #0464503 04-0ct-1999 -545,623.47 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 545,623.47 B BEAR STEARNS & CO INC, NY 0.00 LONG TERM OPER-PIMCO 572,457.41 GNMA POOL #0464503 04-0ct-1999 -2, 170.57 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 572,457.41 GNMA POOL #0464503 04-0ct-1999 -547,794.04 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 12-0ct-1999 9,968,437.50 01N0626B3 6.500% 11/15/2028 22-Nov-1999 -9,968,437.50 BC DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 359,169.50 GNMA POOL #0495869 12-Oct-1999 -340,986.54 36210L2A0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 340,986.54 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 359,169.50 GNMA POOL #0495869 12-0ct-1999 -1,361.85 36210L2A0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 359,169.50 GNMA POOL #0495869 12-0ct-1999 -342,348.39 36210L2A0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 07-Dec-1999 l 1:04:44 faecwhrl! Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 12 PORTFOLIO DETAIL OCSG000 I 0000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 600,566.27 GNMA POOL #0495894 12-0ct-1999 -570, 162.60 36210L3B7 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 570,162.60 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 600,566.27 GNMA POOL #0495894 12-0ct-1999 -2,277.15 362IOL3B7 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 600,566.27 GNMA POOL #0495894 12-0ct-1999 -572,439.75 362IOL3B7 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 206,934.41 GNMA POOL #0496128 12-0ct-1999 -196,458.36 362IOMD99 6.500% 01/15/2029 DD 01 /01/ 22-Nov-1999 196,458.36 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 206,934.41 GNMA POOL #0496128 12-0ct-1999 -784.63 362IOMD99 6.500% 01/15/2029 DD 01/0 I/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 206,934.41 GNMA POOL #0496128 12-0ct-1999 -197,242.99 36210MD99 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 282,236.86 GNMA POOL #0496137 12-0ct-1999 -267,948.62 362IOMEJ6 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 267,948.62 B DEUTSCHE BK SEC INC, NEW YOR 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 14 PORTFOLIO DETAIL OCSG000 I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 362,313.13 GNMA POOL #0496960 12-0ct-1999 -345,344.80 36210NB57 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 462,427.27 GNMA POOL #0497525 12-0ct-1999 -439,016.89 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 439,016.89 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 462,427.27 GNMA POOL #0497525 12-0ct-1999 -1,753.37 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 462,427.27 GNMA POOL #0497525 12-0ct-1999 -440, 770.26 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 358,494.36 GNMA POOL #0469883 I 2-0ct-1999 -340,345.58 36209E6UI 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 340,345.58 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 358,494.36 GNMA POOL #0469883 12-0ct-1999 -1,359.29 36209E6Ul 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 358,494.36 GNMA POOL #0469883 12-0ct-1999 -341,704.87 36209E6Ul 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 07-Dec-1999 I 1:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 15 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOL/DATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 651,041.21 GNMA POOL #0469886 12-0ct-1999 -618,082.25 36209E6X5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 618,082.25 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 651,041.21 GNMA POOL #0469886 12-0ct-1999 -2,468.53 36209E6X5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IB 0.00 LONG TERM OPER-PIMCO 651,041.21 GNMA POOL #0469886 12-0ct-1999 -620,550. 78 36209E6X5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 564,555.13 GNMA POOL #0469892 12-0ct-1999 -535,974.53 36209E7D8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 535,974.53 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 564,555.13 GNMA POOL #0469892 12-0ct-1999 -2,140.60 36209E7D8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IB 0.00 LONG TERM OPER-PIMCO 564,555.13 GNMA POOL #0469892 12-0ct-1999 -538,115.13 36209E7D8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 58,872.58 GNMA POOL #0458988 12-0ct-1999 -55,892.16 36208R2V5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 55,892.16 B DEUTSCHE BK SEC INC, NEW YOR 0.00 07-Dec-1999 I 1:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 17 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 496,005.40 GNMA POOL #0465274 12-0ct-1999 -472,775.82 36208Y2F5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 178,720.23 GNMA POOL #0434219 12-0ct-1999 -169,672.52 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 169,672.52 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 178,720.23 GNMA POOL #0434219 12-0ct-1999 -677.65 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 178,720.23 GNMA POOL #0434219 12-0ct-1999 -170,350.17 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 879,834.20 GNMA POOL #0466454 12-0ct-1999 -835,292.59 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 835,292.59 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 879,834.20 GNMA POOL #0466454 12-0ct-1999 -3,336.04 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 879,834.20 GNMA POOL #0466454 12-0ct-1999 -838,628.63 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench @ II ORANGE COUNTY SANITATION DISTRICT PAGE: 18 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 383,762.77 GNMA POOL #0468574 12-0ct-1999 -364,334. 78 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 364,334.78 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 383,762.77 GNMA POOL #0468574 12-0ct-1999 -1,455.10 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 383,762.77 GNMA POOL #0468574 12-0ct-1999 -365,789.88 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 32,765.30 GNMA POOL #0498342 12-0ct-1999 -31, 106.56 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 31,106.56 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 32,765.30 GNMA POOL #0498342 12-0ct-1999 -124.24 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 32,765.30 GNMA POOL #0498342 12-0ct-1999 -31,230.80 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 399,334.49 GNMA POOL #0498342 12-0ct-1999 -379, 118.18 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 379,118.18 B DEUTSCHE BK SEC INC, NEW YOR 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 19 PORTFOLIO DETAIL OCSG000 I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 399,334.49 GNMA POOL #0498342 12-0ct-1999 -1,514.14 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-N ov-I 999 0.00 1B 0.00 LONG TERM OPER-PIMCO 399,334.49 GNMA POOL #0498342 12-0ct-1999 -380,632.32 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 616,137.93 GNMA POOL #0499497 12-0ct-1999 -584,945.95 36210Q3E0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 584,945.95 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 616,137.93 GNMA POOL #0499497 12-0ct-1999 -2,336.19 362IOQ3E0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 616,137.93 GNMA POOL #0499497 12-0ct-1999 -587,282.14 36210Q3E0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 233,596.52 GNMA POOL #0499521 12-0ct-1999 -221,770.70 36210Q4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 221,770.70 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 233,596.52 GNMA POOL #0499521 12-0ct-1999 -885.72 36210Q4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 0.00 1B 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 20 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 233,596.52 GNMA POOL #0499521 12-0ct-1999 -222,656.42 36210Q4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 637,587.62 GNMA POOL #0499558 12-0ct-1999 -605,309.75 362IOQ5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 605,309.75 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 637,587.62 GNMA POOL #0499558 12-0ct-1999 -2,417.52 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 637,587.62 GNMA POOL #0499558 12-0ct-1999 -607,727.27 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 462,563.92 GNMA POOL #0512997 12-0ct-1999 -439,146.62 36211G3El 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 439,146.62 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 462,563.92 GNMA POOL #0512997 12-0ct-1999 -1,753.89 36211G3El 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 462,563.92 GNMA POOL #0512997 12-0ct-1999 -440,900.51 3621 IG3El 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 21 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 499,999.02 GNMA POOL #0514314 12-0ct-1999 -474,686.57 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 474,686.57 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 499,999.02 GNMA POOL #0514314 12-0ct-1999 -1,895.83 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 lB 0.00 LONG TERM OPER-PIMCO 499,999.02 GNMA POOL #0514314 12-0ct-1999 -476,582.40 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 74,909.52 GNMA POOL #0483340 12-0ct-1999 -71,117.23 36209V4Z4 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 71,117.23 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 74,909.52 GNMA POOL #0483340 12-0ct-1999 -284.03 36209V4Z4 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 lB 0.00 LONG TERM OPER-PIMCO 74,909.52 GNMA POOL #0483340 12-0ct-1999 -71,401.26 36209V4Z4 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 325,175.14 GNMA POOL #0486958 12-0ct-1999 -308,713.15 36210A5T0 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 308,713.15 B DEUTSCHE BK SEC INC, NEW YOR 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 23 PORTFOLIO DETAIL OCSG000J 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 61,193.95 GNMA POOL #0490379 12-0ct-1999 -58,328.04 36210EXG9 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 51,406.64 GNMA POOL #0493482 12-0ct-1999 -48,804.18 36210JFX1 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 48,804.18 B DEUTSCHE BK SEC INC, NEW YOR 0.00 LONG TERM OPER-PIMCO 51,406.64 GNMA POOL #0493482 12-0ct-1999 -194.92 36210JFX1 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 1B 0.00 LONG TERM OPER-PIMCO 51,406.64 GNMA POOL #0493482 12-0ct-1999 -48,999.10 36210JFX1 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC DEUTSCHE BK SEC INC, NEW YOR 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA SF MTG 18-0ct-1999 -5, 734,375.00 01N0606B7 6.000% l l/15/2028 22-Nov-1999 0.00 FC GOLDMAN SACHS & CO, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO 730,000.00 COMMIT TO PUR FNMA COFI 125 18-0ct-1999 -714,715.63 l lF0l 16B8 6.160% ll/01/2029 23-Nov-1999 0.00 FC GOLDMAN SACHS & CO, NY 23-Nov-1999 0.00 LONG TERM OPER-PIMCO 6,250,000.00 COMMIT TO PUR GNMA SF MTG 04-Nov-1999 -5,818,359.38 01N0606C5 6.000% 12/15/2028 20-Dec-1999 5,818,359.38 B GOLDMAN SACHS & CO, NY 0.00 07-Dec~J999 11:04:44 E.xecutive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 26 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -1,579.97 DREYFUS TREASURY CASH MGMT 01-Nov-1999 1,579.97 996085247 01-Nov-1999 -1 ,579.97 s 0.00 LONG TERM OPER-PIMCO -1,579.97 DREYFUS TREASURY CASH MGMT 01-Nov-1999 1,579.97 996085247 01-Nov-1999 0.00 FC 01-Nov-1999 0.00 LONG TERM OPER-PIMCO -209,751.41 DREYFUS TREASURY CASH MGMT 04-Nov-1999 209,751.41 996085247 04-Nov-1999 -209,751.41 s 0.00 LONG TERM OPER-PIMCO -209,751.41 DREYFUS TREASURY CASH MGMT 04-Nov-1999 209,751.41 996085247 04-Nov-1999 0.00 FC 04-Nov-1999 0.00 LONG TERM OPER-PIMCO -76,577.78 DREYFUS TREASURY CASH MGMT 08-Nov-1999 76,577.78 996085247 08-Nov-1999 -76,577.78 s 0.00 LONG TERM OPER-PIMCO -76,577.78 DREYFUS TREASURY CASH MGMT 08-Nov-1999 76,577.78 996085247 08-Nov-1999 0.00 FC 08-Nov-1999 0.00 LONG TERM OPER-PIMCO -2, 100,000.00 FEDERAL HOME LN MTG CORP DIS 12-Nov-1999 2,089,970.75 313396QE6 MAT 12/07/1999 12-Nov-1999 -2,089,970.75 s GOLDMAN SACHS & CO, NY 0.00 07-Dec-1999 11:04:44 Executive Workbench @ II ORANGE COUNTY SANITATION DISTRICT II PAGE: 29 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -395,040.89 GNMA POOL #0509944 13-0ct-1999 374,548.14 36211DP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 -376,523.35 s LEHMAN GOVT SECS INC, NY -1,975.21 LONG TERM OPER-PIMCO -395,040.89 GNMA POOL #0509944 13-0ct-1999 1,497.86 36211DP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -395,040.89 GNMA POOL #0509944 13-0ct-1999 376,046.00 36211DP53 6.500% 06/15/2029 DD 06/01/ 22-Nov-1999 0.00 FC LEHMAN GOVT SECS INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -32,596.21 GNMA POOL #0471550 13-0ct-1999 30,905.28 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -31,068.26 s LEHMAN GOVT SECS INC, NY -162.98 LONG TERM OPER-PIMCO -32,596.21 GNMA POOL #0471550 13-0ct-1999 123.59 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -32,596.21 GNMA POOL #0471550 13-0ct-1999 31,028.87 36209GZP5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC LEHMAN GOVT SECS INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -572,457 .41 GNMA POOL #0464503 13-0ct-1999 542,761.18 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -545,623.47 s LEHMAN GOVT SECS INC, NY -2,862.29 07-Dec-1999 11:04:44 Executive Workbend1 @ ORANGE COUNTY SANITATION DISTRICT PAGE: 30 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOL/DATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -572,457.41 GNMA POOL #0464503 13-0ct-1999 2,170.57 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -572,457 .41 GNMA POOL #0464503 13-0ct-1999 544,931.75 36208YAC3 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC LEHMAN GOVT SECS INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO I 0,500,000.00 COMMIT TO PUR GNMA SF MTG 27-0ct-1999 -9,914,296.88 0IN062683 6.500% 11/01/2029 22-Nov-1999 9,989,437.50 SC MERRILL LYNCH PIERCE FENNER 75,140.62 LONG TERM OPER-PIMCO 11,000,000.00 COMMIT TO PUR GNMA SF MTG 27-0ct-1999 -10,379,531.25 01N062683 6.500% 11/01/2029 22-Nov-1999 10,465,125.00 SC BEAR STEARNS & CO INC, NY 85,593.75 LONG TERM OPER-PIMCO -233,596.52 GNMA POOL #0499521 27-0ct-1999 220,566.21 36210Q4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 -221,770.70 s MERRILL LYNCH PIERCE FENNER -1,204.49 LONG TERM OPER-PIMCO -233,596.52 GNMA POOL #0499521 27-0ct-1999 885.72 362IOQ4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -233,596.52 GNMA POOL #0499521 27-0ct-1999 221,451.93 36210Q4E9 6.500% 01/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 31 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -637,587.62 GNMA POOL #0499558 27-0ct-1999 602,022.19 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -605,309. 75 s MERRILL LYNCH PIERCE FENNER -3,287.56 LONG TERM OPER-PIMCO -637,587.62 GNMA POOL #0499558 27-0ct-1999 2,417.52 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -637,587.62 GNMA POOL #0499558 27-0ct-1999 604,439.71 36210Q5T5 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-l 999 0.00 LONG TERM OPER-PIMCO -462,563.92 GNMA POOL #0512997 27-0ct-1999 436,761.53 3621 IG3EI 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 -439, 146.62 s MERRILL LYNCH PIERCE FENNER -2,385.09 LONG TERM OPER-PIMCO -462,563.92 GNMA POOL #0512997 27-0ct-1999 1,753.89 3621 IG3EI 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -462,563.92 GNMA POOL #0512997 27-0ct-1999 438,515.42 3621 IG3EI 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -499,999.02 GNMA POOL #0514314 27-0ct-1999 472,108.45 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 -474,686.57 s MERRILL LYNCH PIERCE FENNER -2,578.12 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 32 PORTFOLIO DETAIL OCSG000JO000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -499,999.02 GNMA POOL#0514314 27-0ct-1999 1,895.83 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -499,999.02 GNMA POOL #0514314 27-Oct-I 999 474,004.28 3621 IJK30 6.500% 07/15/2029 DD 07/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -297,452.84 GNMA POOL #0488332 27-0ct-1999 280,860.55 362IOCPR8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -282,394.29 s MERRILL LYNCH PIERCE FENNER -1 ,533.74 LONG TERM OPER-PIMCO -297,452.84 GNMA POOL #0488332 27-0ct-1999 1,127.84 36210CPR8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -297,452.84 GNMA POOL #0488332 27-Oct-l 999 281,988.39 36210CPR8 6.500%01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -61,193.95 GNMA POOL #0490379 27-0ct-1999 57,780.47 36210EXG9 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -58,096.01 s MERRILL LYNCH PIERCE FENNER -315.54 LONG TERM OPER-PIMCO -61,193.95 GNMA POOL #0490379 27-Oct-l 999 232.03 362IOEXG9 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 IS 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 33 PORTFOLIO DETAIL OCSG000JO000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATJj:/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -61, 193.95 GNMA POOL #0490379 27-0ct-1999 58,012.50 36210EXG9 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -51,406.64 GNMA POOL #0493482 27-0ct-1999 48,539.11 362l0JFXl 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -48,804.18 s MERRILL LYNCH PIERCE FENNER -265.07 LONG TERM OPER-PIMCO -51,406.64 GNMA POOL #0493482 27-0ct-1999 194.92 362l0JFXl 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -51,406.64 GNMA POOL #0493482 27-0ct-1999 48,734.03 362lOJFXl 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -359,169.50 GNMA POOL #0495869 27-0ct-1999 339,134.58 36210L2AO 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -340,986.54 s MERRILL LYNCH PIERCE FENNER -1,851.96 LONG TERM OPER-PIMCO -359, 169.50 GNMA POOL #0495869 27-0ct-1999 1,361.85 36210L2A0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -359,169.50 GNMA POOL #0495869 27-0ct-1999 340,496.43 362IOL2A0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench @ II ORANGE COUNTY SANITATION DISTRICT PAGE: 34 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -600,566.27 GNMA POOL #0495894 27-0ct-1999 567,065.93 36210L387 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -570, 162.60 s MERRILL LYNCH PIERCE FENNER -3,096.67 LONG TERM OPER-PIMCO -600,566.27 GNMA POOL #0495894 27-0ct-1999 2,277.15 36210L387 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -600,566.27 GNMA POOL #0495894 27-0ct-1999 569,343.08 36210L387 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -362,313.13 GNMA POOL #0496960 27-0ct-1999 342,102.85 36210NB57 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -343,971.03 s MERRILL LYNCH PIERCE FENNER -1,868.18 LONG TERM OPER-PIMCO -362,313.13 GNMA POOL #0496960 27-0ct-1999 1,373.77 36210NB57 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -362,313.13 GNMA POOL #0496960 27-0ct-1999 343,476.62 36210NB57 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -462,427.27 GNMA POOL #0497525 27-0ct-1999 436,632.50 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -439,016.89 s MERRILL LYNCH PIERCE FENNER -2,384.39 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 35 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -462,427.27 GNMA POOL #0497525 27-0ct-1999 1,753.37 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -462,427.27 GNMA POOL #0497525 27-0ct-1999 438,385.87 36210NVS5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -32,765.30 GNMA POOL #0498342 27-0ct-1999 30,937.61 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -31,106.56 s MERRILL LYNCH PIERCE FENNER -168.95 LONG TERM OPER-PIMCO -32,765.30 GNMA POOL #0498342 27-0ct-1999 124.24 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -32,765.30 GNMA POOL #0498342 27-0ct-1999 31,061.85 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-l 999 0.00 LONG TERM OPER-PIMCO -399,334.49 GNMA POOL #0498342 27-0ct-1999 377,059.11 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -379,118.18 s MERRILL LYNCH PIERCE FENNER -2,059.07 LONG TERM OPER-PIMCO -399,334.49 GNMA POOL #0498342 27-0ct-1999 1,514.14 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 36 PORTFOLIO DETAIL OCSG000 10000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -399,334.49 GNMA POOL #0498342 27-0ct-1999 378,573.25 36210PS70 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -616,137.93 GNMA POOL #0499497 27-0ct-1999 581 ,768.99 36210Q3E0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -584,945.95 s MERRILL LYNCH PIERCE FENNER -3,176.96 LONG TERM OPER-PIMCO -616,137.93 GNMA POOL #0499497 27-0ct-1999 2,336.19 36210Q3E0 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -616,137.93 GNMA POOL #0499497 27-0ct-1999 584,105.18 362IOQ3EO 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -178, 720.23 GNMA POOL #0434219 27-0ct-1999 168,750.99 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -169,672.52 s MERRILL LYNCH PIERCE FENNER -921.53 LONG TERM OPER-PIMCO -178, 720.23 GNMA POOL #0434219 27-0ct-1999 677.65 36207KK82 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -178, 720.23 GNMA POOL #0434219 27-0ct-1999 169,428.64 36207KK82 6.500% 03/15/2029 DD 03/0 II 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 37 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -58,872.58 GNMA POOL #0458988 27-0ct-1999 55,588.59 36208R2V5 6.500%01/15/2029 DD 01/01/ 22-Nov-1999 -55,892.16 s MERRILL LYNCH PIERCE FENNER -303.57 LONG TERM OPER-PIMCO -58,872.58 GNMA POOL #0458988 27-0ct-1999 223.23 36208R2V5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -58,872.58 GNMA POOL #0458988 27-0ct-1999 55,811.82 36208R2V5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -206,934.41 GNMA POOL #0496128 27-0ct-1999 195,391.35 36210MD99 6.500% 01/15/2029 DD 01/01/ 22-Nov-l 999 -196,458.36 s MERRILL LYNCH PIERCE FENNER -1,067.01 LONG TERM OPER-PIMCO -206,934.41 GNMA POOL #0496128 27-0ct-1999 784.63 362IOMD99 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -206,934.4 I GNMA POOL #0496128 27-0ct-1999 196,175.98 362IOMD99 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-N ov-I 999 0.00 LONG TERM OPER-PIMCO -282,236.86 GNMA POOL #0496137 27-0ct-1999 266,493.34 36210MEJ6 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -267,948.62 s MERRILL LYNCH PIERCE FENNER -1,455.28 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 39 PORTFOLIO DETAIL OCSG000J 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -651,041.21 GNMA POOL #0469886 27-0ct-1999 617,193.85 36209E6X5 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -564,555.13 GNMA POOL #0469892 27-0ct-1999 533,063.54 36209E7D8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -535,974.53 s MERRILL LYNCH PIERCE FENNER -2,910.99 LONG TERM OPER-PIMCO -564,555.13 GNMA POOL #0469892 27-0ct-1999 2,140.60 36209E7D8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -564,555.13 GNMA POOL #0469892 27-0ct-1999 535,204.14 36209E7D8 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -74,909.52 GNMA POOL #0483340 27-0ct-1999 70,730.97 36209V4Z4 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -71,117.23 s MERRILL LYNCH PIERCE FENNER -386.26 LONG TERM OPER-PIMCO -74,909.52 GNMA POOL #0483340 27-0ct-1999 284.03 36209V4Z4 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -74,909.52 GNMA POOL #0483340 27-0ct-1999 71,015.00 36209V4Z4 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 07-Dec-1999 I 1:04:44 Executive Workbenoh @ ORANGE COUNTY SANITATION DISTRICT PAGE: 40 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -325,175.14 GNMA POOL #0486958 27-0ct-1999 307,036.46 36210A5T0 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 -308,713.15 s MERRILL LYNCH PIERCE FENNER -1,676.69 LONG TERM OPER-PIMCO -325, 175.14 GNMA POOL #0486958 27-0ct-1999 1,232.96 36210A5T0 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -325, 175. 14 GNMA POOL #0486958 27-0ct-1999 308,269.42 36210A5T0 6.500% 02/15/2029 DD 02/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -383, 762. 77 GNMA POOL #0468574 27-Oct-1999 362,356.00 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -364,334. 78 s MERRILL LYNCH PIERCE FENNER -1 ,978.78 LONG TERM OPER-PIMCO -383,762.77 GNMA POOL #0468574 27-0ct-1999 1,455.10 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -383,762.77 GNMA POOL #0468574 27-0ct-1999 363,811.10 36209DQ31 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -358,494.36 GNMA POOL #0469883 27-0ct-1999 338,497.10 36209E6UI 6.500% 01/15/2029 DD 01/01/ 22-Nov-1999 -340,345.58 s MERRILL LYNCH PIERCE FENNER -1,848.48 07-Dec-1999 11:04:44 Executive Workbench @ II ORANGE COUNTY SANITATION DISTRICT II PAGE: 42 PORTFOLIO DETAIL OCSG000 I 0000 0l-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTL DATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -496,005.40 GNMA POOL #0465274 27-0ct-1999 470,218.29 36208Y2F5 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-l 999 0.00 LONG TERM OPER-PIMCO -879,834.20 GNMA POOL #0466454 27-0ct-1999 830,755.95 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 -835,292.59 s MERRILL LYNCH PIERCE FENNER -4,536.64 LONG TERM OPER-PIMCO -879,834.20 GNMA POOL #0466454 27-0ct-1999 3,336.04 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 IS 0.00 LONG TERM OPER-PIMCO -879,834.20 GNMA POOL #0466454 27-0ct-1999 834,091.99 36209BE38 6.500% 03/15/2029 DD 03/01/ 22-Nov-1999 0.00 FC MERRILL LYNCH PIERCE FENNER 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -11,000,000.00 COMMIT TO PUR GNMA SF MTG 27-0ct-1999 10,379,531.25 0IN0626B3 6.500% 11/01/2029 22-Nov-1999 -I 0,484,375.00 s BEAR STEARNS & CO INC, NY -104,843.75 LONG TERM OPER-PIMCO -11,000,000.00 COMMIT TO PUR GNMA SF MTG 27-0ct-1999 10,379,531.25 0IN0626B3 6.500% 11/01/2029 22-Nov-1999 0.00 FC BEAR STEARNS & CO INC, NY 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -6,250,000.00 COMMIT TO PUR GNMA SF MTG 04-Nov-1999 5,823,730.47 0IN0606B7 6.000% 11/15/2028 22-Nov-1999 -5, 734,375.00 s GOLDMAN SACHS & CO, NY 89,355.47 07-Dec-1999 11 :04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 44 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 77,449.50 FHLMC MULTI CLASS CTF E3 A 01-Oct-1999 -77,449.50 3133TCE95 6.324% 08/15/2032 01-0ct-1999 77,534.21 PDC 84.71 LONG TERM OPER-PIMCO -77,464.00 FHLMC MULTI CLASS CTF E3 A 01-0ct-1999 77,464.00 3133TCE95 6.324% 08/15/2032 01-0ct-1999 -77,548.72 PD -84.72 LONG TERM OPER-PIMCO -77,464.00 FHLMC MULTICLASS CTF E3 A 01-0ct-1999 77,464.00 3133TCE95 6.324% 08/15/2032 01-0ct-1999 0.00 FC 15-Nov-1999 0.00 LONG TERM OPER-PIMCO -44,411.10 FHLMC MULTICL MTG P/C 1574 E 01-Nov-1999 4(411.10 3133T02D5 5.900% 06/15/2017 01-Nov-1999 -44,348.65 PD 62.45 LONG TERM OPER-PIMCO -44,411.10 FHLMC MULTICL MTG P/C 1574 E 01-Nov-1999 44,411.10 3133T02D5 5.900% 06/15/2017 01-Nov-1999 0.00 FC 15-Nov-1999 0.00 LONG TERM OPER-PIMCO -135,653.59 FHLMC GROUP #G5-0476 01-Nov-1999 135,653.59 3128DDQ55 7.000% 02/01/2003 DD 02/01/ 01-Nov-1999 -137,773.18 PD -2,119.59 LONG TERM OPER-PIMCO -135,653.59 FHLMC GROUP #GS-0476 01-Nov-1999 135,653.59 3128DDQ55 7.000% 02/01/2003 DD 02/01/ 01-Nov-1999 0.00 FC 15-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 45 PORTFOLIO DETAIL OCSG000 I 0000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -1 ,915.35 FNMA POOL #0252703 01-Nov-1999 1,915.35 31371HU48 6.500% 09/01/2006 DD 08/01/ 01-Nov-1999 -1,875.55 PD 39.80 LONG TERM OPER-PIMCO -1,915.35 FNMA POOL #0252703 01-Nov-1999 1,915.35 31371HU48 6.500% 09/01/2006 DD 08/01/ 01-Nov-1999 0.00 FC 26-Nov-1999 0.00 LONG TERM OPER-PIMCO -36,990.40 GNMA II POOL #0080023 01-Nov-1999 36,990.40 36225CAZ9 6.125% 12/20/2026 DD 12/01/ 0 l-Nov-1999 -37,603.05 PD -612.65 LONG TERM OPER-PIMCO -36,990.40 GNMA II POOL #0080023 01-Nov-1999 36,990.40 36225CAZ9 6.125% 12/20/2026 DD 12/01/ 01-Nov-1999 0.00 FC 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -57,596.83 GNMA II POOL #080088M 01-Nov-1999 57,596.83 36225CC20 6.375% 06/20/2027 DD 06/01/ 01-Nov-1999 -58,856.76 PD -1,259.93 LONG TERM OPER-PIMCO -57,596.83 GNMA II POOL #080088M 01-Nov-1999 57,596.83 36225CC20 6.375% 06/20/2027 DD 06/01/ 01-Nov-1999 0.00 FC 22-Nov-1999 0.00 LONG TERM OPER-PIMCO -53,279.00 FHLMC MULTI CLASS CTF E3 A 01-Nov-1999 53,279.00 3133TCE95 6.324% 08/15/2032 01-Nov-1999 -53,337.27 PD -58.27 07-Dec-1999 11:04:44 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 47 PORTFOLIO DETAIL OCSG000 10000 01-NOV-1999 -30-NOV-1999 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LIQUID OPER-PIMCO -900,000.00 FEDERAL NATL MTG ASSN DISC N 03-Nov-1999 896,201.00 313588NU5 MAT 11/03/1999 03-Nov-1999 -896,201.00 MT 03-Nov-1999 0.00 LIQUID OPER-PIMCO -900,000.00 GOLDMAN SACHS LP DISC 03-Nov-1999 878,069.00 38142UY30 11/03/1999 03-Nov-1999 -878,069.00 MT 03-Nov-1999 0.00 LIQUID OPER-PIMCO -500,000.00 FEDERAL NATL MTG ASSN DISC 04-Nov-1999 499,786.25 313588NV3 MAT 11/04/1999 04-Nov-1999 -499, 786.25 MT 04-Nov-1999 0.00 LONG TERM OPER-PIMCO -6,600,000.00 AMERICAN TEL & TL DISC 04-Nov-1999 6,571,928.00 03018BY45 11/04/1999 04-Nov-1999 -6,571,928.00 MT 04-Nov-1999 0.00 LONG TERM OPER-PIMCO -14,900,000.00 FEDERAL HOME LN MTG CORP DIS 04-Nov-1999 14,835,060.83 313396NV1 MAT 11/04/1999 04-Nov-1999 -14,835,060.83 MT 04-Nov-1999 0.00 LONG TERM OPER-PIMCO -6,300,000.00 DU PONT DE NEMOUR DISC 08-Nov-1999 6,269,392.50 26354BY89 11/08/1999 08-Nov-1999 -6,269,392.50 MT 08-Nov-1999 0.00 LIQUID OPER-PIMCO -900,000.00 GENERAL ELEC CAP DISC 17-Nov-1999 894,435.00 36959JYH0 11/17/1999 17-Nov-1999 -894,435.00 MT 17-Nov-1999 0.00 07-Dec-1999 11:04:44 Executive Workbench FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Mike Peterman, Director of Human Resources Originator: Patty Steeves, Human Resources Analyst Meeting Date 12/8/99 Item Number ,;::::-l't-/J,eM .q:. SUBJECT: EMPLOYMENT STATUS REPORT AS OF NOVEMBER 17, 1999 GENERAL MANAGER'S RECOMMENDATION Receive and file the Employment Status Report. SUMMARY Total FTE headcount at the District as of November 17, 1999 was 496.25. 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 To Bd. of Dir. Item Number The District had a full-time equivalent (FTE) headcount of 496.25 as of November 17, 1999. The actual number of employees was 506. The annual turnover rate is 3.7%. There were six promotions for the following positions: • From: To: • From: To: • From: To: Pump Power Operator (Co-generation) Associate Engineer Ill (O&M Process Support) Plant Operator (Plant 1 Operations) Pump Power Operator (Co-generation) Senior Mechanic (Plant Facilities Maintenance) Lead Mechanic (Plant Facilities Maintenance) H:lwp.dtalhr\510lsteeves\AlnStatusrpt120899mtg.dot Revised: 8/20/98 Page 1 • From: Two Source Control Inspectors (Source Control) To: Two Senior Environmental Specialists (Source Control) • From: Buyer (Purchasing & Warehousing) To: Contracts/Purchasing Supervisor (Purchasing & Warehousing) • From: To: Technical Services Assistant (Environmental Sciences Laboratory) Lab Analyst (Environmental Sciences Laboratory) There was one new employee hired during October/November, 1999: • Intern (Environmental Sciences Laboratory) ALTERNATIVES Not applicable. CEQA FINDINGS Not applicable. ATTACHMENTS November 17, 1999 Employment Status Report. Performance compared to 3-Year Staffing Plan. H:\wp,dtalhr\510\steeves\AlnStatusrpt120899mlg.dot Revised: 8/20/98 Page 2 \ 11/17/99--8:50 AM Employment Status Report Regular Regular Actual Vacant Budget Budget Plan Plan Posfficms Regular Part-time Part-time FTE Positions FTE FTE FTE FTE wlin Final plan Full-time 20 hours 30 hours Contract Intern LOA Count FY99-00 98-99 99-00 00-01 01-02 {FY01-D2J 110 -General Management Admin 4.00 0.00 0.00 0.00 0.00 0.00 4.00 0.00 4.00 4.00 4.00 4.00 0.00 Total General Manaqement 4.00 0.00 0.00 0.00 0.00 0.00 4.00 0.00 4.00 4.00 4.00 4.00 0.00 210 -Finance Administration 4.00 0.00 0.00 0.00 0.00 0.00 4.00 0.00 4.00 4.00 4.00 4.00 0.00 220 -Accounting 16.00 0.00 0.00 0.00 0.00 0.00 16.00 0.00 19.00 16.00 16.00 16.00 0.00 230 -Purchasing & Warehousing 12.00 1.00 0.00 0.00 0.00 0.00 13.00 4.50 15.00 17.50 17.50 17.50 4.50 Total Finance 32.00 1.00 0.00 0.00 0.00 0.00 33.00 4.50 38.00 37.50 37.50 37.50 4.50 310 -Communications 8.00 0.00 0.00 0.00 0.00 1.00 9.00 0.00 10.75 9.00 9.00 9.00 0.00 Total Communications 8.00 0.00 0.00 0.00 0.00 1.00 9.00 0.00 10.75 9.00 9.00 9.00 0.00 510 -HR & Employee Development 9.00 0.50 0.75 0.00 0.00 0.00 10.25 0.00 11.75 10.25 10.25 10.25 0.00 Total Human Resources 9.00 0.50 0.75 0.00 0.00 0.00 10.25 0.00 11.75 10.25 10.25 10.25 0.00 610 -Technical Services Admin 2.00 0.00 0.00 0.00 0.00 0.00 2.00 0.00 4.75 2.00 2.00 2.00 0.00 620 -Environmental Compliance & Monit 19.00 0.00 0.00 0.00 1.00 0.00 20.00 0.50 18.00 20.50 20.50 20.50 0.50 630 -Environmental Laboratory 28.00 2.00 0.00 0.00 0.50 0.00 30.50 1.50 34.00 32.00 32.00 32.00 1.50 640 -Source Control 32.00 0.00 0.75 0.00 0.00 0.00 32.75 1.00 36.75 33.75 33.75 33.75 1.00 650 -Safety & Emergency Response 6.00 0.00 0.00 0.00 0.00 0.00 6.00 1.50 6.00 7.50 7.50 7.50 1.50 0.00 Total Technical Services 87.00 2.00 0.75 0.00 1.50 0.00 91.25 4.50 99.50 95.75 95.75 95.75 4.50 710 -Engineering Administration 3.00 0.00 0.00 0.00 0.00 0.00 3.00 0.00 3.00 3.00 3.00 3.00 0.00 720 -Planning & Design Engineering 30.00 0.00 0.75 0.00 0.50 0.00 31.25 4.00 27.25 35.25 35.25 35.25 4.00 730 -Construction Management 34.00 0.00 0.00 0.00 0.00 1.00 35.00 1.75 37.00 36.75 36.75 36.75 1.75 Total Enqineerinq 67.00 0.00 0.75 o.oo 0.50 1.00 69.25 5.75 67.25 75.00 75.00 75.00 5.75 420 -Collection Facilities Mice 16.50 0.00 0.00 0.00 0.00 0.00 16.50 1.00 18.50 17.50 19.50 19.50 3.00 430 -Plant Maintenance 28.50 0.00 0.00 0.00 0.00 0.00 28.50 1.00 38.50 29.50 29.50 28.50 0.00 810 -0 & M Administration 4.00 0.00 0.00 0.00 0.00 1.00 5.00 -2.00 7.00 3.00 2.00 2.00 -3.00 820 -0 & M Process Support 8.00 0.00 0.00 0.50 0.50 0.00 9.00 1.00 11.25 10.00 9.25 9.25 0.25 830 -Plant 1 Operations 32.00 0.50 0.00 0.00 0.00 1.00 33.50 -0.17 37.00 33.33 34.33 34.33 0.83 840 -Plant 2 Operations 39.00 0.00 0.00 0.00 0.00 0.00 39.00 0.33 43.00 39.33 37.33 37.33 -1.67 850 -Mechanical Mtce 45.00 0.00 0.00 0.00 0.00 0.00 45.00 0.50 52.50 45.50 45.50 45.50 0.50 860 -Electrical & Instrumentation Mice 55.00 0.00 0.00 0.00 0.00 0.00 55.00 0.50 58.50 55.50 55.50 55.50 0.50 870 -Cogeneration 10.00 0.00 0.00 0.00 0.00 0.00 10.00 0.34 11.00 10.34 10.34 10.34 0.34 880 -Air Quality & Special Projects 9.00 0.00 0.00 0.00 1.00 0.00 10.00 0.00 8.00 10.00 9.50 9.50 -0.50 Total Operations & Maintenance 247.00 0.50 0.00 0.50 1.50 2.00 251.50 2.50 285.25 254.00 252.75 251.75 0.25 910 -IT Admin 2.00 0.00 0.00 0.00 0.00 0.00 2.00 0.00 2.00 2.00 2.00 2.00 0.00 930 -Customer & Network Support 11.00 0.00 0.00 0.00 0.00 1.00 12.00 3.00 11.00 15.00 15.00 15.00 3.00 940 -Programming & Database Sys 6.00 0.00 0.00 0.00 0.00 0.00 6.00 1.00 6.00 7.00 7.00 7.00 1.00 950 -Process Controls Integration 8.00 0.00 0.00 0.00 0.00 0.00 8.00 1.00 7.00 9.00 9.00 9.00 1.00 'Total Information Technoloqy 27.00 0.00 0.00 0.00 0.00 1.00 28.00 5.00 26.00 33.00 33.00 33.00 5.00 Total Staffing 481.ool 4.00[ 2.251 o.50I 3.501 5.00 496.25 22.25 542.50 518.50 517.25 516.25 20.00 Original 5-Yr Plan Goal 549.00 521.50 515.50 507.50 g:\excel.dfa\hr\510\steeves\3-Year Staffing Plan ' FAHR COMMITTEE Meeting Date 12/08/99 AGENDA REPORT Item Number FAHR99-94 Orange County Sanitation D1stnct FROM: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager SUBJECT: QUARTERLY INVESTMENT MANAGEMENT PROGRAM REPORT FOR THE PERIOD JULY 1, 1999 THROU_GH SEPTEMBER 30, 1999 GENERAL MANAGER'S RECOMMENDATION Receive and file the Quarterly Investment Management Program Report for the period July 1, 1999 through September 30, 1999. SUMMARY Section 15.0 of the District's Investment Policy includes monthly and quarterly reporting requirements for the District's two investment portfolios. These two funds, the "Liquid Operating Monies," and the "Long-Term Operating Monies," are managed by PIMCO, the District's external money manager. The ongoing monitoring of the District's investment program by staff and Callan Associates, the District's independent investment advisor, indicates that the District's investments are in compliance with the District's adopted Investment Policy and the California Government Code, and that overall performance has tracked with benchmark indices. In addition, sufficient liquidity and anticipated revenues are available for the District to meet budgeted expenditures for the next six months. The District's portfolios do not include any reverse repurchase agreements or derivative securities. PROJECT/CONTRACT COST SUMMARY N/A 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) H:\wp.dtalagendalFAHRIFahr99\99al\FAHR99-94.doc RelliMd: 115198 Page 1 To Bd. 12/15/99 Item Number ADDITIONAL INFORMATION Performance Reports The Quarterly Strategy Review, prepared by PIMCO, and the Investment Measurement Quarterly Review, prepared by Callan Associates, are attached for reference. Also attached are four comparative bar charts which depict the sector diversification and credit quality of the District's portfolios, as of June 30, 1999, and September 30, 1999. The Liquid Operating Monies portfolio, with an average maturity of 90 days, consists entirely of cash equivalent investments such as U.S. Treasuries and corporate discount notes. Portfolio Performance Summary The following table presents a performance summary of the District's portfolios as compared to their benchmarks for the period July 1 through September 30, 1999. Portfolio Performance Sunjm~ry Quarter Ended September 30, 1999 Liquid Operating Monies Long-Term Operating Monies(%) (%) II i:-~-SI ., ,fJ: !. "E "I:· 'Total iR,ate I :Benchmar1<<11 Total Rate :of ' j(!1f" 1•!~ of-Return -Return Benchmar. ,,,, '" .. 3 Months 1.3 1.2 1.2 1.1 6 Months 2.5 2.3 1.2 1.4 9 Months 3.7 3.4 1.6 1.8 12 Months 5.0 4.6 2.2 2.3 Since Inception 30 Sept. 95 5.5 5.1 6.3 6.q I' 11: Marice! Value per PIMCO 30 Sept. 99 $19.3M $271 .1M Average Quality "AA+" •AAA" Current Yield (%) 5.59 6.09 Estimated Yield to Maturity(%) 5.24 6.05 Quarterly Deposits (Withdrawals) ($38.0M) Estimated Annual Income $1 .1M $16.5M (1) Benchmarks: • Liquid Operating Portfolio: 3-Month Treasury Bill Index • Long-Term Operating Portfolio: Merrill Lynch Corp/Govt 1-5 Year Bond Index Market Recap Interest rates rose modestly during the third quarter of 1999 as fixed income markets took comfort in signs that Fed rate increases were working to slow the rapid growth in the U.S. economy and restrain inflation. However, more worrisome for investors was the decline in the value of the U.S. dollar (especially versus the yen), which stemmed from a record U.S. trade deficit and movement H:lwp,dta\lin\21O'cranelFAHR\Fahr99\Dec\Quarter1ylnvMgm!Report12-99 doc Revised: 1/5198 Page 2 of capital to growing Asian and European economies, and which threatened to boost U.S. inflation by pushing import prices up. At their August meeting, the Fed raised the federal funds rate 25 basis points, from 5.00% to 5.25%. This was the second rate hike in 1999 in a sustained move by the Federal Reserve to control inflation. Treasury yields fluctuated in a 40 to 50 basis point range as investor sentiment about interest rates shifted several times during the quarter. At quarter end, the shape of the yield curve was little changed from the end of the second quarter. Rates rose across the entire Treasury yield curve, ending the third quarter slightly higher than the second. As depicted in the attached comparative graph of the Historical Yield Curve, the yield on the 30-year Treasury benchmark increased 9 basis points when compared to the end of the second quarter 1999 (5.96%), ending the third quarter at 6.05%. Yields on 10-year Treasury bonds ended the quarter at 5.88%, a rise of 10 basis points from the end of the second quarter (5. 78% ). Shorter rates showed a similar shift. The 3-month Treasury rate increased by 8 basis points (from 4. 77% to 4.85% ), and the 1-year rate rose 13 basis points (from 5.06% to 5.18%). However, the 6-month rate dropped by 8 basis points at quarter end (from 5.03% to 4.95%). For the Long-Term Operating Monies portfolio, PIMCO maintained a weighted maturity or duration slightly above the duration index (2.34 vs. 2.31 years), emphasizing holdings in mortgage-backed bonds, investment grade corporate notes, and U.S. Agency securities. The performance of the portfolio slightly outperformed its benchmark by 4 basis points for the third quarter (1 .16% vs. 1.12%). For the Liquid Operating Monies portfolio, PIMCO used an "at index" duration posture (approximately 70 days vs. 90 days), emphasizing U.S. Agency discount notes, high-quality corporates, and commercial paper. This added returns to the portfolio, which outperformed its benchmark by 16 basis points for the third quarter (1.34% vs. 1.18%). Market Outlook Forecasts from PIMCO report that economic expansion will continue, though at a slower pace, as higher borrowing costs for individuals and businesses slow consumer and investment spending. Growth will begin to slow in the first quarter of 2000 as companies draw down inventories built up as a precaution against potential Y2K disruptions. Inflation is expected to remain benign over the longer term, although the inflation rate will trend upward over the next several months. H:\wp.dtalfin\21O\cranelFAHR\Fahr991Dec10uartertylnvMgmtReport12-99.doc: Rl!Yised: 1 /5198 Page3 The PIMCO investment strategy targets portfolio duration slightly above index to take advantage of higher yields provided by longer maturity securities. PIMCO indicates that they will trim investment grade corporate exposure, and emphasize shorter maturity real return bonds, U.S. Agency debentures and discount notes, high-quality asset backed and mortgage backed securities, and high-quality commercial paper. The attached letter from PIMCO provides a more detailed description of third-quarter market conditions, portfolio returns, future market outlook, and their recommended investment strategy for the District's Long-Term Operating and Liquid Monies portfolios. Portfolio Market Values Two withdrawals were made from the Long-Term Operating Monies portfolio during the quarter. On July 30, 1999, $13 million was withdrawn to fund the semi-annual debt service payments for the District's COP issues. On September 3, 1999, another $25 million was withdrawn to meet current and projected cash flow requirements. These funds are invested in LAIF until they are needed. Comparative marked-to-market quarter-end portfolio values are shown in the table below, and in the attached bar chart. Liquid Quarter Operating Ending Monies ($M) ALTERNATIVES NIA CEQA FINDINGS NIA 30 Sept. 98 31 Dec. 98 31 March 99 30 June 99 30 Sept. 99 H:\wp.dta'din\21Olcrane\FAHR\Fahr99\Dec\QuarterlytnvMgm!Report12-99.doc Reviwd: 1/51118 18.4 18.6 18.8 19.0 19.3 Long-Term Operating Monies ($M) 282.8 304.5 305.8 305.9 271.1 Page4 ' ATTACHMENTS 1. PIMCO Report 2. Callan Report 3. Quarter End Portfolio Market Value Bar Chart 4. Four Comparative Bar Charts 5. Historical Yield Curve Graph 6. PIMCO Letter dated November 1999 SVK:lc H:\wp.dtaVin\210\crane\FAHR\Fahr9$\Dee\QuarterlylnvMgmlReport12-99.doc Revised: 115198 Page 5 November 18, 1999 Mr. Steve Kozak Finance Manager Orange County Sanitation District P.O. Box 8127 Fountain Valley, CA 92728-8127 Re: Third Quarter Report Dear Steve: PIM C 0 PACIFIC INVESTMENT MANAGEMENT COMPANY 840 Newport Center Drive Suite 300 Newport Beach, CA 92660 Tel: 949.720.6000 Fax: 949.720.1376 What follows is a description of events in the bond markets during the 3rd Quarter 1999 and an analysis of the strategies undertaken in the Orange County Sanitation District's Long-Term and Liquid portfolios over the period. I have also included a section on strategies to be pursued in your portfolio during the coming months. Bond Market Recap: Range-Bound Interest Rates; Federal Reserve Tightens Treasury yields ended slightly higher after fluctuating in a 40 to 50 basis point range as investor sentiment about rates shifted several times . The yield on the 30-year Treasury bond rose 8 basis points to 6. 05 percent. The shape of the yield curve was little changed as rates rose in roughly parallel fashion. In August the Fed raised the federal funds rate by 25 basis points to 5 .25 percent and maintained its neutral bias toward future rate moves. The Fed said that this action, combined with an identical tightening in June, "should markedly diminish the risk of rising inflation going forward." That wording helped reassure investors concerned about the potential for more Fed rate hikes. Bond markets took additional comfort from signs that recent Fed rate increases were already working to cool the economy and restrain inflation: • Growth in jobs and wages slowed in August, which appeared to reduce the risk of wage inflation. • The August consumer price index increased only slightly despite the continued rise in energy prices. • Home mortgage rates surged to around eight percent, slowing refinancings that have helped fuel the recent boom in consumer spending. Mr. Steve Kozak Orange County Sanitation District Bond Market Recap: (Continued) November 18, 1999 Page Two More worrisome was the decline of the dollar, especially versus the yen, which threatened to boost inflation by pushing up import prices. The strength of the dollar is more important to U.S. inflation now because of the growing percentage of domestic consumption satisfied by imports. The dollar's decline stemmed from a record U.S. trade deficit and movement of capital to growing Asian and European economies. Corporates Underperform as Credit Concerns Mount Generally speaking, corporate securities lagged other bond market sectors during the quarter. Investors grew more wary of risk in the corporate market in the wake of heavy new issuance and signs of credit deterioration, especially among lower-rated issuers. • High-grade corporate bonds underperformed Treasuries as reduced investor demand drove yield premiums wider. • Concerns about credit were centered on below-investment grade corporates, where rising default rates and declining liquidity caused poor relative performance. • Mortgage returns held up better than corporates. Mortgages performed about in line with Treasuries on a like-duration basis as modestly negative price performance offset the sector's yield advantage. • Currency-hedged bonds of most developed countries lagged U.S. Treasuries as interest rates rose amid signs of global economic recovery. • Emerging market bonds outperformed Treasuries due to high yield premiums and lower market volatility. Improving credit fundamentals in Mexico and Poland compensated for negative reaction to Ecuador's Brady bond default. The Merill Lynch 1-5 year Government/Corporate experienced a return of + 1.12 percent. Returns by sector were as follows: Sector Treasury Agency Corporates Total Monthly return 1.20% 0.99% 0.97 % Performance Attribution: Long Tenn Portfolio The Long-Term portfolio that PIMCO manages on behalf of Orange County Sanitation District turned in a 1.16 percent return over the quarter, outperforming the Merrill Lynch 1-5 year PACIFIC INVESTMENT MANAGEMENT COMPANY Mr. Steve Kozak Orange County Sanitation District Perfonnance Attribution: (Continued) November 18, 1999 Page Three Government Corporate Index by 4 basis points. This portfolio's performance was due in part to the following factors: • An above-index duration detracted from returns on the margin· as interest rates increased. • Our broader-than-index maturity structure was neutral as rates rose in parallel fashion. • Mortgages were positive as high yields more than offset adverse price performance. • High-grade corporates were neutral for the quarter. • U.S. real return bonds underperformed as real yields increased more than comparable Treasuries. • Agency debentures detracted from returns as spreads widened. Liquid Portfolio The Liquid portfolio that PIMCO manages on behalf of Orange County Sanitation District turned in a 1.34 percent return over the quarter, outperforming the 3 month Treasury Bill Index by 16 basis point. This portfolio's performance was due in part to the following factors: • Our index-like duration was neutral during the quarter. • Corporate holdings added to performance as commercial paper enhance returns for the quarter. • Agency debentures detracted from returns as spreads widened. Fourth Quarter Outlook: Higher Borrowing Costs to Slow Economic Expansion The economy will expand more slowly as higher borrowing costs for individuals and companies temper growth in consumer and investment spending. Growth will begin to slow in the first quarter of 2000 as companies draw down inventories built up as a precaution against potential Y2K disruptions. • Higher mortgage rates will slow consumption by reducing refinancing activity, giving consumers less opportunity to lower mortgage payments and boost cash flow. • Corporate profits will be squeezed by higher borrowing costs and wage pressures stemming from tight labor markets. These factors, along with relatively low capacity utilization, will curb growth in investment spending. • Faster growth in Europe and recovery in Asia will boost U.S. exports, partially offsetting the impact of slower consumer and investment spending. PACIFIC INVESTMENT MANAGEMENT COMPANY Mr. Steve Kozak Orange County Sanitation District Fourth Ouarter Outlook: (Continued) Inflation Still Benign, But Deflationary Trends Reverse November 18, 1999 Page Four While we expect inflation to remain benign over the longer term, the inflation rate will trend upward over the next several months after a sharp decline last year. • Productivity gains that have contained wage inflation during this expansion will not be sustainable as growth moderates late in the business cycle. • Global economic recovery has put upward pressure on oil and other commodity prices. The effects of these price increases will filter through the economy over the next several months. • The U.S. trade deficit and a greater flow of capital to Asia and Europe have exerted downward pressure on the dollar that will translate into higher import prices. • Interest rates will rise toward the upper end of our secular range in response to higher inflation. • The Federal Reserve will likely remain on hold for the rest of the year after two preemptive rate hikes this summer. The Fed may tighten modestly next year to bolster the dollar and contain inflation. Yield Enhancement, Credit Quality Will Be Key Issues Enhancing yield will be critical for generating superior portfolio returns, as interest rates remain range-bound. Managing credit risk will also be important, given high levels of individual and corporate indebtedness and prospects for slower growth. Mortgages, which have embedded option premiums, are one source of incremental yield that presents virtually no credit risk. Corporate, high yield and emerging market bonds offer attractive yield premiums but would suffer adverse price performance should credit quality deteriorate further. Investments in these sectors therefore need to be made selectively. Writing options to collect premium income is another way of generating extra yield. Developed non-U.S. markets provide limited opportunity for yield enhancement given generally higher U.S. real yields. Strategy: The following lists highlights the strategies that will be used in th~ Long Term portfolio in the coming months: • Target duration near to slightly above the benchmark to take advantage of higher yields on longer-maturity securities. • Overweight mortgage-backed securities, which offer attractive yields with virtually no credit risk. PACIFIC INVESTMENT MANAGEMENT COMPANY 1 . FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Gary G. Streed, Director of Finance Originator: Michael D. White, Controller Meeting Date 12/8/99 Item Number 1PrJM. Ci"i-9S SUBJECT: Consideration of Budget Assumptions, Fiscal Policy Statements, and Budget Calendar for Preparation of the 2000-01 Budget GENERAL MANAGER'S RECOMMENDATION Approve the 2000-01 Budget Assumptions, Fiscal Policy Statements, and Budget Calendar, and direct staff to prepare the 20.00-01 budget incorporating these parameters. SUMMARY Each year the FAHR Committee establishes the Budget Assumptions and Fiscal Policy Statements that staff incorporates and publishes in the annual budget. PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT D This item has been budgeted. (Line item: ) D Ibis item has been budgeted, but there are insufficient funds. D Ibis item has not been budgeted. [gl Not applicable (information item) ATTACHMENTS Enclosed are a draft of the budget assumptions, Fiscal Policy Statements, and a budget calendar. Staff will make a brief presentation at the Committee meeting. H:lwp.dtelfin\2201whltelFAHR\BudAssumAIT00-01.doc Revised: 1 /5/98 Page 1 To Bd. of Dir . Item Number 1 Proposed Budget Assu mptions 2000-01 Preliminary Budget Assumptions Economic Assumptions • Inflation for Orange County in 2000-01 is projected to be 2.4 percent based on the 1999 projected percentage change in consumer price index obtained from the December 1998 Economic and Business Review report prepared by Chapman University. Revenue Assumptions • The Board of Directors adopted a five year user fee rate schedule in May of 1997, affirmed during the consolidation in July, 1998, that provides for rate increases in 2000-01 for seven of the nine revenue areas within the District. The annual sewer service fee increases for single family residences range from 2.6 percent to 12.5 percent, or $2.00 to $11.25, over the prior year. Multi- family and non-residential service fees will increase proportionately. These increases are estimated to generate a net increase in total user fees of $3,753,000. Those areas with minor or no rate increases are projected to have higher ending reserves at June 30, 2000, in comparison to their share of the total joint operating and capital costs of the District at for 2000-01 than those areas requiring larger fee increases. Adoption of one rate for all Revenue Areas would reduce the overall average rate charged, and would require a Prop 218 notification process. • Connection fees, or capital facilities capacity charges, were re-evaluated as part of the strategic plan update and a methodolgy and schedule was adopted in 1999. Because the charges are based upon the strategic plan GIP and 2020 flow projections, the rates will not be changed until the strategic plan is revisited. Revenues will be budgeted conservatively to reflect actual flow increases that are below the strategic plan projections. • Annexation fees will be evaluated during the second half of 1999-2000 and a proposal submitted to the Board. Preliminary budget estimates will not include annexation fees as the timing of development is unknown, trends are good indicators of the future and the dollar amounts are minimal. • Home resales were estimated to have increased 11.0 percent in 1997-98 over the prior year and are projected to increase another 4.6 percent according to the December 1998 Economic and Business Review report prepared by Chapman University. 1999-00 property tax allocations increased 8.2 percent over the prior year. Property tax revenues in 2000-01 are being proposed at a conservative 5.0 percent increase as the Assessor's office has readjusted upward those property values decreased by appeal during the real estate recession. • Earnings on the investment of the District's operating cash and reserves will again be budgeted at 6.0 percent. Staff will consult with PIMCO to get better estimates for the next year's rate of return on investments, but history supports 5.75 to 6.25 percent for the long-term portfolio and 4. 75 to 5.25 percent for the liquid portfolio. Operating Assumptions • Base joint works operating, maintenance and administration costs are estimated to be $46,200,000 for 2000-01, a net increase of 5.0 percent or $2,200,000 from the 1999- 2000 budget. • The cost to treat and dispose of 1 million gallons of wastewater is estimated to be $517, an increase of 7.1 percent from the 1999-2000 estimate of $482 per million gallons. Total wastewater flows for 2000-01 are budgeted to increase 5 million gallons per day (mgd) above the 240 mgd actual for the first 4 months of 1999-2000. This is a 2.0 percent derease from the budgeted average flow of 250 mgd for 1999-2000, and is 33 mgd below the strategic plan estimate of 278 mgd used in capital planning. • Total staffing follows the guidelines of the staffing plan and will be budgeted at 517.25 full time equivalents (FTE) for the start of the 2000-01 fiscal year, decreasing to 514.25 at Page 1 of 2 year-end. This represents a decrease of 1.25 FTEs from the 1999-2000 budget. • Cost of living salary increases and performance based incentive increases for all employee groups have been estimated based upon the recently concluded SPMT MOU. A pool of five percent of salaries has been estimated. OCEA and 501 employee units' Memoranda of Understanding expire in November, 1999, and estimated adjustments for these groups are included in the five percent pool. • The proposed joint operating budget will continue to reflect an emphasis on safety, technical, and management training. The proposed 2000-01 budget will again include a budget for training and meetings equal to two percent of salaries and wages. In addition, $100,000 of training funds will be set aside specifically for DART. • An amount equal to one percent of the joint operating budget will be a contingency for prior year reappropriations. Since the current year's budget lapses on June 30 of each year, a contingency is needed in the succeeding budget for goods or services ordered at the end of one budget year but not delivered until the following year. Reserve Assumptions • The five year sewer service rate schedule adopted in May 1997 was established at a level that will be sufficient to maintain compliance with the Districts' current reserve policies. • The current reserve policy was reviewed in conjunction with the strategic plan update and was revised accordingly beginning in fiscal year 1998-99. Capital Improvement Program Assumptions • The joint works capital improvement budget (CORF) is proposed not to exceed $113,943,400 as determined by the Strategic Plan Update and the 1999-00 cash flow projections. This is an increase of $45,171,400 or 16.5 percent above the 2000-01 Preliminary Budget 1999-2000 cash flow budget and will be refined as the process continues and current year actual outlays are known. • Collection system capital improvement budgets, in total, are being proposed at $36,580,300 and consist mostly of trunk sewer construction and rehabilitation projects. This is an increase of $12,951 ,200 or 54.8 percent above the 1999-2000 cash flow budget and will be refined as the process continues and current year actual outlays are known. Debt Financing • The Districts will issue debt of $100 million in Certificates of Participation for the Capital Improvement Program late in 1999-2000 or early 2000-01 . This is in accordance with the five-year debt issuance schedule approved as part of the 1997-98 Sewer Service User Fee adoption process and the long-standing policy of 50 percent debt financing and 50 percent pay as you go. No other borrowing is anticipated in 2000-01 unless the CIP program is accelerated. H:\wp.dta\fin\21 O\streed\BudAssum FAHR 12-1.doc November 30, 1999 Page 2 of 2 Fiscal Policy Statement General Financial Goals To maintain a financially viable Sanitation District that can maintain an adequate level of wastewater treatment Completed In Progress services. ..f To maintain financial flexibility to be able to continually adapt to local and regional economic changes. ..f To maintain and enhance the sound fiscal condition of the District. To ensure that the value added of every program and activity within the District is proportional to its cost; and eliminate those programs and activities that do not contribute to the District's mission. To provide training opportunities for available jobs within the organization for those employees working in programs or activities that have been reduced or eliminated to the greatest extent possible. ..f To provide employees with cross-training opportunities in order to achieve multi-tasking capabilities. ..f Operating Budget Policies The District will adopt a balanced budget by June 30 of each year. ..f The budget will be used as a fiscal control device as well as a financial plan. ..f Budget preparation and monitoring will be performed by each division within the District, the level at which accountability and control will be held. ..f The Director of Finance will prepare a budget calendar no later than January of each year. ..f An annual operating budget will be developed by verifying or conservatively projecting revenues and expenditures for the current and forthcoming fiscal year. ..f During the annual budget development process, the existing programs will be thoroughly examined to assure removal or reduction of any services or programs that could be eliminated or reduced in cost. Page 1 Fiscal Policy Comments Fiscal Policy Statement Completed In Progress Current operating revenues will be sufficient to support current operating expenditures. ..f Annual budgets including reserves will provide for adequate design, construction, maintenance and replacement of District capital plant and equipment. ..f The District will maintain all physical assets at a level adequate to protect the District's capital investment and to minimize future maintenance and replacement costs. ..[ The District will project equipment replacement and maintenance needs for the next five years and will update this projection each year. From this projection a maintenance and replacement schedule will be developed and followed. The District will avoid budgetary and accounting procedures which balance the current budget at the expense of future budgets. The District will forecast its Joint Works' expenditures and revenues for each of the next five years and will update this forecast at least annually. Revenue Policies Because revenues are sensitive to both local and regional economic conditions, revenue estimates ..[ adopted by the Board of Directors must be conservative. ..f Staff will estimate annual revenues by an objective, analytical process utilizing trend, judgmental, and statistical analysis as appropriate. ..f Ad valorem property tax revenues of the District will be dedicated to debt service. ..f Sewer Service User Fees will be projected for each of the next five years and this projection will be updated annually. Expenditure Policies The District will maintain a level of expenditures which will provide for the health, safety and welfare of the residents of the community. ..f Page2 Fiscal Policy Comments Fiscal Policy Statement The District will set fees and user charges at a level that fully supports the total direct and indirect costs of operations, capital improvements, and debt service Completed In Progress requirements not covered by reserves. ..f Capital Improvement Budget Policies The District will make all capital improvements in accordance with an adopted and funded capital improvement program. The adopted capital improvement program will be based on need. The District will develop an annual five-year plan for capital improvements, including design, development, implementation, and operating and maintenance costs. All capital improvement projects approved in the annual operating budget are approved at the budgeted amounts through the completion of the project. The Board of Directors approves both the individual project total budget and the projected cash outlays for all capital ,[ ,[ improvement projects for the current fiscal year. ..f Staff will identify the estimated costs, potential funding sources and project schedule for each capital project proposal before it is submitted to the Board of Directors for approval. ..f The District will use intergovernmental assistance and other outside resources whenever possible to fund capital improvements providing that these improvements are consistent with the Capital Improvement Plan and District's priorities, and that the future operating and maintenance costs of these improvements have been included in the budget. ..f Staff will coordinate development of the capital improvement budget with the development of the operating budget. All costs for internal professional services needed to implement the CIP will be included in the operating budget for the year the CIP is to be implemented. ..f Cost tracking for components of the capital improvement program will be updated quarterly to ensure project completion against budget and established time lines. ..f Page 3 Fiscal Policy Comments Strategic Plan projects needs through 2020. Fiscal Policy Statement Vehicle Replacement Policy In order to provide safe, reliable transportation appropriate to the work to be performed, the following policies have been established: • The newest vehicles will be used for those purposes requiring the highest annual mileage. • Vehicles will be replaced when they are 1 0 years old or have accumulated 100,000 miles. • A vehicle may be replaced in advance of the above criteria if it can be reallocated to a low mileage use between the plants. • Electric carts are to be purchased for all in-plant only uses. • Electric vehicles are to be leased for all "between plant" only uses. • Compressed Natural Gas (CNG) vehicles are to be purchased for all County-wide only uses (i.e., pump station run, source control inspection, engineering project inspectors, etc.). Short-Term Debt Policies The District may use short-term debt to cover temporary or emergency cash flow shortages. All short-term borrowing will be subject to Board approval by Completed In Progress .[ .[ .[ .[ .[ .[ resolution. .f The District may utilize Board approved intra-agency loans rather than outside debt instruments to meet short-term cash needs. Intra-agency loans will be permitted only if an analysis of the affected Revenue Areas indicates excess funds are available and the use of these funds will not impact current operations. The principal, along with interest at the prevailing rate as established by the District's Treasurer, will be paid to the lending Revenue Area. Page4 Fiscal Policy Comments Fiscal Polley Statement Long-Term Debt Policies The District will confine long-term borrowing to capital improvements that cannot be financed from current revenue. In accordance with the 1989 Master Plan, one-half of all future long-term capital improvements will be funded from long-term debt with the remaining cost funded from capital improvement reserves and current revenues. Proceeds from long-term debt will not be used for current on-going operations. Before any new debt is issued, the impact of debt service payments on total annual fixed costs will be analyzed. Accumulated Funds & Reserve Policies A cash flow/contingency reserve will be established to (1) fund operations and maintenance expenses for the first half of the fiscal year prior to the receipt of taxes and user fee revenues, (2) provide for non-recurring, unanticipated expenditures, and (3) fund the annual principal debt service payments and semi-annual interest payments due in August of each year. The level of this reserve will be the sum of (a) an amount equal to six months of the total District Operating costs, (b) ten percent of the District's Operating costs, and (c) the total of all annual debt service payments due in the Completed In Progress .[ .[ .[ month of August for each year. .f A capital improvement reserve will be maintained to fund approximately 50 percent of the average annual capital outlay plus the entire projected cost of funding specific near-term projects such as the Groundwater Replacement System. .f Page 5 Fisca l Policy Comments Policy will be re- evaluated as part of the Strategic Plan Update to be done in 1999-00. Fiscal Policy Statement A renewal/replacement reserve will be maintained to fund the District's renewal, rehabilitation and replacement requirement costs associated with the District's existing capital plant and system of underground pipelines over the next thirty years. The reserve was initially set at $50 million beginning in 1998-99 and, with an assumed interest rate level of five percent and annual increments, will grow to meet the Completed In Progress identified demands out to 2030. -I Self-insurance reserves for property (fire, flood, and earthquake), general liability, and workers' compensation will be maintained at a level which, together with purchased insurance policies, FEMA Disaster reimbursement funding, and State Disaster Assistance payments would adequately protect the District. Based on a potential infrastructure loss of $495 million, the reserve level has been set at $57 million. -/ Investment Policies The District's Treasurer will annually submit an investment policy to the Board of Directors for review and adoption. The investment policy will emphasize safety and liquidity before yield. Accounting, Auditing, and Financial Reporting The District's accounting and financial reporting systems will be maintained in conformance with generally accepted accounting principles and standards -I -I promulgated by the Governmental Accounting -/ Standards Board. A fixed asset system will be maintained to identify all District's assets, their condition, historical cost, replacement value, and useful life. Quarterly financial reports will be submitted to the Board of Directors and will be made available to the public. Full disclosure will be provided in the general financial statements and bond representations. -/ Page 6 Fiscal Policy Comments J Fiscal Policy Fiscal Policy Statement Completed In Progress Comments The District will maintain a good credit rating in the financial community. ..f An annual audit will be performed by an independent public accounting firm with the subsequent issue of an official Comprehensive Annual Financial Report, including an audit opinion and a management letter. ..f Page? Budget Calendar Tasks Responsibility Event/Due Date PHASE I -BUDGET PREPARATION Phase and Roll-up Development/Conversion CIP Process Team 11/10/99 Outline of Training Manual CIP Process Team 11/23/99 Budget Calendar Published Financial Planning 12/1/99 Preliminary Budget Parameters identified by Budget Team 12/3/99 Budget Team and EMT &EMT Preliminary Budget Parameters Budget Team FAHR -12/8/99 (Assumptions, Policies, and Critical Goals) Presented to FAHR Committee Training Manual Draft CIP Process Team 12/20/99 CIP -Database Developed/Re-engineered CIP Process Team 12/20/99 CIP -Forms Developed CIP Process Team 12/30/99 CIP -Instruction Manual Developed Financial Planning and 12/30/99 O&M CIP -Budget Kickoff Meeting Financial Planning 1/5/00 and O&M CIP -Budget Preparation Training Financial Planning 1/5-1/6/00 and O&M Preparation for Budget Kickoff/ Training Financial Planning 1/17/00 Session: • Salary and Benefit Calculations Downloaded From JOE System to Excel Worksheets (Five Year Staffing Plan) • Develop Line Item Worksheets With Mid- Year Actual Expense and encumbrance Incorporated • Prepare / Update Budget Instruction Manual Budget Kickoff/ Training Session: Financial Planning 1/19/00 -Distribute Budget Manual Update -Conduct Budget Training Session -Distribute Budget Worksheets for each division including - -Prior year actuals -Current year budget -Five months of current year actuals & encumbrances 1 Budget Calendar Tasks Responsibility Event/Due (continued) Date Critical Goals & Strategic Planning -EMT Meeting General Manager 1/28-29/00 Budget Parameters (Assumptions, Policies, and Budget Team OMTS -2/2/00 Critical Goals) Presented to Board Committees PDC-2/3/00 FAHR -2/9/99 Steering -2/23/00 Mid-Year Financial & Operational Report to FAHR Finance Department 2/9/00 CIP -Project Request Development CIP Budget 2/14/00 Coordinators JO-Base Operating Budget (excluding Division Coordinators 2/17/00 Personnel & Capital Outlay): -Projection of current year actuals (6 Month Est.) -Proposed for 2000-01 JO -Decision Package Due; -Draft budget overview (budget highlights & current year's work plan) -Training Budget -Educational reimbursement budget -Capital equipment decision requests -New program/position decision requests, along with supporting requirements (i.e., computer) -Reclassification decision requests (The above items will be collated and bound by Financial Planning for review by the General Manager's Office) CIP -Request Finalization and Division Manager Department - Approval Supervisors & 2/21/00 Managers JO -Compilation and Review of Prelim. Div. Financial Planning 2/25/00 Budget Packages Completed CIP -Request Finalization and Department Department Heads 2/28/00 Approval Completed CIP Budget Delivered to Finance CIP Budget 2/28/00 Coordinators 2 Budget Calendar Tasks Responsibility Event/Due (continued) Date PHASE II -BUDGET REVIEW JO -Distribution of Preliminary Line Item Base Financial Planning 2/28/00 Budgets to Department Heads and Budget Coordinators JO -Budget Review Meetings with GM staff, General Mgrs. Office, 2/28/00 budget staff and department representatives Financial Planning, & - -review budget & initial decision packages Division Coordinators 3/6/00 CIP -Committee Review CIP Committee 3/9/00 CIP -Resource Availability Review Engineering & O&M 3/9/00 JO -Final Preliminary Budget Decisions General Mgrs. Office 3/10/00 Preliminary CIP Budget Completed Financial Planning 3/16/00 CIP -Review Workshop Financial Planning & 3/21/00 Department Heads CIP -General Manager and Designee(s) Approval General Manager 3/23/00 PHASE Ill -BUDGET PRESENTATION JO -Submit Narrative Budget Document: Division Coordinators 3/10/00 -Final Budget Overview -Organization Charts (Prepared by H/R) -Service Descriptions -FTE's JO -Submit Performance Budget Documents: Division Coordinators 3/13/00 -Performance Results (1999-00) -Performance Measures (2000-01) JO -Completion of Preliminary Budget Financial Planning 3/24/00 CIP -Finalize CIP List Financial Planning 4/3/00 Proposed Budget finalized Financial Planning 4/3/00 CIP -Final CIP Budget Document Preparation Financial Planning 4/3/00 and Incorporate into Final Budget Document Overview of Proposed Budget with FAHR General Manager/ 4/12/00 Financial Planning General Manager Budget Message completed General Mgrs. Office / 4/20/00 Financial Planning Proposed Budget to printer Financial Planning 4/21/00 3 Budget Calendar Tasks Responsibility Event/Due (continued) Date Proposed Budget mailed to OMTS, PDC, and Financial Planning 4/26/00 FAHR PHASE IV -BUDGET DELIBERATIONS Proposed Budget Presented to Committees Financial Planning OMTS -5/3/00 PDC-5/4/00 FAHR -5/10/00 Presentation to Board & Adoption Board of Directors 6/28/00 PHASE V -DISTRIBUTION OF BUDGET Final line item budget and equipment budgets Financial Planning 717100 distributed to Departments Final approved budget distributed Financial Planning 7/14/00 PHASE VI -BUDGET DEBRIEFING Budget Debriefing Financial Planning 7/18/00 -What is contained within the budget -What changed since the Department's original submittal -What changes occurred as a result of Board action -Results of Budget Survey -Overview of Budget Monitoring with JD Edwards Software and review of Budget Coordinator's Responsibility -Suggestions for 2000-01 Budget Process Improvements 4 ·' FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Michael D. White, Controller Meeting Date To Bd. Of Dir. 12/8/99 12/15/99 Item Number Item Number r/}.1-)l.'_ N -7'/r SUBJECT: Extension of Professional Services Contract for the Audit of the District's Annual Financial Statements GENERAL MANAGER'S RECOMMENDATION Authorize staff to retain Moreland & Associates to conduct the independent audit of the District's financial statements for an additional three years, for an amount not to exceed $42,600 for FY 99/00, $44,300 for FY 00/01, and $46,000 for FY 01/02. SUMMARY In February 1995, after a competitive selection process, Moreland & Associates were awarded the contract to audit the District over the next four years through the year ended June 30, 1998. The audit fee for the first year of the contract was for $38,000 with a four percent escalator each year over the next three years of the agreement through June 30, 1998. At that time, Moreland & Associates were not only deemed to be the most qualified firm, but were also the low bidder. In February of this year, the Committee approved the extension the contract with Moreland & Associates to perform the audit for the year ended June 30, 1999. Moreland & Associates are requesting to extend their services for an additional three years through the year ended June 30, 2002 (see the attached proposal letter). They propose to perform the audit for the year ended June 30, 2000 at the same rate that was charged for the last year of their contract, $42,600. A four-percent escalator would be applied over the final two years of the extension. PROJECT/CONTRACT COST SUMMARY Total all-inclusive maximum prices to audit the District's financial statements for the three years ending June 30, 2002: 2000 $42,600 2001 $44,300 2002 $46,000 H:lwp.dlellin\220\white\FAHR\Moreland Audit extension.dot Revised: 8/10198 Page 1 BUDGET IMPACT B This item has been budgeted. (Line item: ) This item has been budgeted, but there are insufficient funds. This item has not been budgeted. • ~ Not applicable (information item) This item is not applicable to the current year's J. 0. Budget, but is to be budgeted each year over the next three years. ADDITIONAL INFORMATION The District has benefited from the services of Moreland & Associates over the last five years. They have provided the District with a high level of service at reasonable cost as their fees were the lowest proposed during the last competitive bid process. Auditors often bid under the assumption that, after proving their competency and their ability to deliver services at a high level, they might be provided the opportunity to extend the auditing contract period. The practice of extending contracts for auditing services is very common in local government and GFOA's Governmental Accounting, Auditing, and Financial Reporting text references the use of auditors for a ten-year period although they make no recommendations on this matter. Additional points to consider include: • The Governmental Accounting Standards Board Statement No. 34 has just been issued that will require the District to conform to the new Governmental Accounting Reporting Model by the year ended June 30, 2001. Moreland & Associates expertise lies in Governmental Accounting and Auditing Standards. Their knowledge of both the District and the new reporting requirements would provide for a smooth transition from the general purpose financial statements currently being issued to the new basic financial statement format required in 2000-01. • Moreland & Associates has developed extensive knowledge about the District that would be a benefit to the organization through the preparation of official statements and bond comfort letters as we go forward into the bond market. ALTERNATIVES 1. Authorize staff to retain Moreland & Associates to conduct the independent audit of the District's financial statements for one additional year for an amount not to exceed $44,300. 2. Open the selection process and solicit bids from other certified public accounting firms. Attached to this agenda report is a request for proposal to solicit bids for auditing services over the next five years should the Committee choose to select this alternative. ATTACHMENTS 1. Proposal letter from Moreland & Associates. 2. Moreland & Associates' Orange County Client List including first year of engagement. 3. Request for proposal for auditing services. H:lwp.dtalfln\220\wMelFAHR\Morel..id Audit extension.dot Revised: 8/10198 Page2 Moreland&~ druY. CERTIFIED PUBLIC ACCOUNTANTS November 22, 1999 Mr. Michael D. White, Controller Orange County Sanitation District 10844 Ellis A venue Fountain Valley, CA 92827-8127 Dear Mr. White: 1201 DOVE STREET, SUITE 680 NEWPORT BEACH, CALIFORNIA 92660 (949) 221-0025 570 RANCHEROS DRIVE, SUITE 260 SAN MARCOS, CA 92069 (760) 752-3390 In accordance with your request, we are submitting this letter proposal to extend our existing agreement for auditing services with the Orange County Sanitation District to cover either the year ending June 30, 2000, or the three years ending June 30, 2002. The scope of audit work as described in our original proposal of audit services will remain unchanged. As you consider a one or three year extension of our agreement, we ask that you consider the cost to District personnel in dealing with a new auditor's information needs. Also, consider the greater efficiency, thoroughness and commitment provided by an experienced auditor who already has a knowledge and appreciation of your systems and procedures. If you chose to extend our agreement for one year, the hourly rates and maximum fees will increase 4% to cover increased salary and other costs. This will result in total audit fees for the year ending June 30, 2000 of $44,300. If you chose to extend our agreement for three years, the hourly rates and maximum fees will remain unchanged the first year. Hourly rates and maximum fees will increase 4% in the second and third year. This will result in fees for the three years as follows: Fiscal Year Ending June 30 2000 2001 2002 Maximum Fees $42,600 44,300 46,000 Mr. Michael D. White, Controller Orange County Sanitation District November 22, 1999 Page 2 We appreciate the opportunity to continue as auditors for the Orange County Sanitation District. We would be pleased to discuss with you at your convenience the contents of this letter or any other matters you may wish to discuss. Please let us know if you require any additional information. Very truly yours, MORELAND & ASSOCIATES, INC. ~~/~~✓ Michael C. Moreland, Partner MCM:xf ORANGE COUNTY SANITATION DISTRICT ORANGE COUNTY, CALIFORNIA REQUEST FOR PROPOSALS FOR PROFESSIONAL AUDITING SERVICES December 15, 1999 P.O. BOX 8127 10844 ELLIS AVENUE FOUNTAIN VALLEY, CA 92728-8127 ORANGE COUNTY SANITATION DISTRICT REQUEST FOR PROPOSALS TABLE OF CONTENTS I. INTRODUCTION A. General Information ......................................................................... 3 8. Term of Engagement. ...................................................................... 4 II. NATURE OF SERVICES REQUIRED A. General. ........................................................................................... 4 B. Scope of Work to be Performed ...................................................... 4 C. Auditing Standards to be Followed .................................................. 5 D. Reports to be Issued ....................................................................... 5 E. Special Considerations .................................................................... 7 F. Working Paper Retention and Access to Working Papers ............................................................................................. 8 Ill. DESCRIPTION OF THE GOVERNMENT A. Name and Telephone Number of Contact Person .......................... 8 B. Background Information ................................................................... 9 C. Fund Structure ................................................................................. 9 D. Federal and State Financial Assistance .......................................... 9 E. Pension Plans ............................................................................... 1 O F. Joint Ventures ............................................................................... 10 G. Magnitude of Finance Operations ................................................. 10 H. Computer Systems ........................................................................ 11 IV. TIME REQUIREMENTS A. Proposal Calendar. ........................................................................ 11 B. Notification and Contract Dates ..................................................... 11 C. Schedule for the 1999-00 Fiscal Year Audit .................................. 12 D. Entrance Conference, Progress Reporting and Exit Conference .. 12 E. Date Final Report is Due ............................................................... 14 1 V. ASSISTANCE TO BE PROVIDED TO THE AUDITOR AND REPORT PREPARATION A. Accounting Division ....................................................................... 14 B. Report Preparation ........................................................................ 14 VI. PROPOSAL REQUIREMENTS A. General Requirements .................................................................. 14 B. Technical Proposal ........................................................................ 16 C. Sealed Dollar Cost Bid .................................................................. 20 VII. EVALUATION PROCEDURES A. Audit Selection Committee ............................................................ 22 B. Review of Proposals ...................................................................... 22 C. Evaluation Criteria ......................................................................... 22 D. Oral Presentations ......................................................................... 24 E. Final Selection ............................................................................... 24 F. Right to Reject Proposals .............................................................. 24 APPENDICES A. Organizational Chart ................................................................................ 25 B. Proposer Guarantees ............................................................................... 26 C. Proposer Warranties ................................................................................ 27 D. Format for Schedule of Professional Fees and Expenses to Support the Total All-Inclusive Maximum Price ................................ 28 2 ORANGE COUNTY SANITATION DISTRICT REQUEST FOR PROPOSALS I. INTRODUCTION A. General Information The Orange County Sanitation District (District) is requesting proposals from qualified firms of certified public accountants to audit its financial statements for the fiscal year ending June 30, 2000, with the option of auditing their financial statements for each of the four subsequent fiscal years. There is no expressed or implied obligation for the District to reimburse responding firms for any expenses incurred in preparing proposals in response to this request. Any inquiries concerning the request for proposals should be addressed to: Michael D. White, Controller Orange County Sanitation District P.O. Box 8127 10844 Ellis Avenue Fountain Valley, CA 92728-8127 To be considered, five copies of a proposal must be sealed and received before 5:00 p.m., January 14, 2000 by: Penny Kyle, Board Secretary Orange County Sanitation District P.O. Box 8127 10844 Ellis Avenue Fountain Valley, CA 92728-8127 The District reserves the right to reject any or all proposals submitted. Proposals submitted will be evaluated by an Audit Selection Committee with the contract being awarded by the District's Board of Directors. During the evaluation process, the District reserves the right, where it may serve the District's best interest, to request additional information or clarifications from proposers, or to allow corrections of errors or omissions. At the discretion of the District, firms submitting proposals may be requested 3 to make oral presentations as part of the evaluation process. The District reserves the right to retain all proposals submitted and to use any ideas in a proposal regardless of whether that proposal is selected. Submission of a proposal indicates acceptance by the firm of the conditions contained in this request for proposals, unless clearly and specifically noted in the proposal submitted and confirmed in the contract between the District and the firm selected. It is anticipated the selection of a firm will be completed by February 15, 2000. Following the notification of the selected firm it is expected a contract will be executed between both parties by March 15. 8. Term of Engagement A five-year contract is contemplated, subject to the annual review and recommendation of District's staff. II. NATURE OF SERVICES REQUIRED A. General The District is soliciting the services of qualified firms of certified public accountants to audit its financial statements for the fiscal year ending June 30, 2000, with the option to audit the District's financial statements for each of the four subsequent fiscal years. These audits are to be performed in accordance with the provisions contained in this request for proposals. 8 . Scope of Work to be Performed The District desires the auditor to express an opinion on the fair presentation of its general purpose financial statements for the years ended June 30, 2000 and 2001 in conformity with generally accepted accounting principles. In addition, the District desires the auditor to express an opinion on the fair presentation of its basic financial statements for the years ended June 30, 2002, 2003, and 2004 in conformity with general accepted accounting principles, including Governmental Accounting Standards Board Statement Number 34 (Statement No. 34 becomes effective for the District beginning with fiscal year 2001-02). The auditor is not required to audit the combining and individual fund financial statements and supporting schedules. However, the auditor is to provide an "in-relation-to" report on the combining and individual fund 4 financial statements and supporting schedules based on the auditing procedures applied during the audit of the general purpose and basic financial statements. The auditor is not required to audit the statistical section of the report. C. Auditing Standards To Be Followed To meet the requirements of this request for proposals, the audit shall be performed in accordance with : 1 generally accepted auditing standards as set forth by the American Institute of Certified Public Accountants; 2 the standards for financial audits set forth in the U.S. General Accounting Office's Government Auditing Standards (1988) 3 the provisions of the Single Audit Act of 1984 and the provisions of U.S. Office of Management and Budget (0MB) Circular A-128, Audits of State and Local Governments. D. Reports to be Issued Following the completion of the audit of the fiscal year's financial statements, the auditor shall issue: 1. A report on the fair presentation of the financial statements in conformity with generally accepted accounting principles. 2. A report on the procedures applied and the results on the application of these procedures in determining as to whether the District's appropriation limitation calculation was computed in accordance with Article XIIIB of the Constitution of The State of California. 3. Bond comfort letters to the District's two bond trustees, Texas Commerce Bank and State Street Bank. 4. A letter to the Southern California Edison Company reporting the District's net tangible worth in compliance with the Interconnection Facilities Agreement between the Southern California Edison Company and the District. 5. If the District receives any federal financial assistance over the next 5 five years and an audit is required to be performed under the provisions of the Single Audit Act of 1984 and the U.S. Office of Management and Budget (0MB) Circular A-128, then the auditor shall issue the following additional reports for each year required: a) A report on the internal control structure based on the auditors' understanding of the control structure and assessment of control risk. b) A report on compliance with applicable laws and regulations. c) An "in-relation-to" report on the schedule of federal financial assistance. d) A report on the internal control structure used in administering federal financial assistance programs (this report may be combined with report "a"). e) A report on compliance with specific requirements applicable to major federal financial assistance programs. f) A report on compliance with specific requirements applicable to nonmajor federal financial assistance programs (this report may be combined with report "e"). g) A report on compliance with general requirements for both major and nonmajor federal financial assistance programs. 6. The auditor shall communicate in a letter to management any reportable conditions found during the audit. A reportable condition shall be defined as a significant deficiency in the design or operation of the internal control structure, which could adversely affect the organization's ability to record, process, summarize, and report financial data consistent with the assertions of management in the financial statements. Reportable conditions that are also material weaknesses shall be identified as such in the report. Nonreportable conditions discovered by the auditors shall be reported in a separate letter to management, which should be referred to in the report on internal controls if required as part of a single audit. 6 If required, the report on compliance (3g above) shall include all material instances of noncompliance. All nonmaterial instances of noncompliance shall be reported in a separate management letter, which shall be referred to in the report on compliance. 7. Irregularities and illegal acts. Auditors shall be required to make an immediate, written report of all irregularities and illegal acts or indications of illegal acts of which they become aware to the following parties: • District's Chairperson • District's Finance Administration and Human Resource Committee Chairperson • District's General Manager • District's Director of Finance E. Special Considerations 1. The District will send their comprehensive annual financial report to the Government Finance Officers Association of the United States and Canada for review in their Certificate of Achievement for Excellence in Financial Reporting program. It is anticipated that the auditor will provide assistance to the District to meet the requirements of that program. 2. The District currently anticipates preparing one or more official statements in connection with the sale of debt securities which will contain the general purpose financial statements, or basic financial statements if issued after June 30, 2001, and the auditor's report thereon. The auditor shall be required, if requested by the fiscal advisor and/or the underwriter, to issue a "consent and citation of expertise" as the auditor and any necessary "comfort letters." 3. The District has determined that the State Controller of the State of California will function as the cognizant agency in accordance with the provisions of the Single Audit Act of 1984 and U.S. Office of Management and Budget (0MB) Circular A-128, Audits of State and Local Governments. 4. If applicable, the schedule of federal financial assistance and related 7 , auditors' report, as well as the reports on the internal controls and compliance are not to be included in the comprehensive annual financial report, but are to be issued separately. 5. The partner-in-charge of the audit shall be available to attend meetings of the District's Directors at which the audit progress, reports, and findings will be discussed. F. Working Paper Retention and Access to Working Papers All working papers and reports must be retained, at the auditors' expense, for a minimum of three (3) years, unless the firm is notified in writing by the District of the need to extend the retention period. The auditor will be required to make working papers available, upon request, to the following parties or their designees: • Orange County Sanitation District • State Controller of the State of California • U.S. General Accounting Office (GAO) • Parties designated by the federal or state governments or by the District as part of an audit quality review process • Auditors of entities of which the District is a sub-recipient of grant funds • Auditors of entities of which the District is a component unit In addition, the firm shall respond to the reasonable inquiries of successor auditors and allow successor auditors to review working papers relating to matters of continuing accounting significance. 111. DESCRIPTION OF THE GOVERNMENT A. Name and Telephone Number of Contact The auditors' principal contact with the District will be Michael D. White, Controller (714) 962-7570), who will coordinate with the Auditor the assistance to be provided by the District. An organizational chart (Appendix A) is attached. 8 B. Background Information The District provides wastewater collection, treatment , and disposal services to a population of 2.4 million covering an area of 471 square miles. The District's fiscal year begins on July 1 and ends on June 30. The District has a total payroll, including benefits, of $38 million covering 521.5 full time equivalent employees. The District is comprised of nine separate revenue areas with each having their own user fee rate schedule. The District's organization consists of seven separate departments; Administration, Finance, Human Resources, Operations and Maintenance, Engineering, Technical Services, and Information Technologies. The accounting and financial reporting functions of the District are centralized within the Finance Department's Accounting Division. More detailed information on the District and its finances can be found in the District's 1998-99 Comprehensive Annual Financial Report and the adopted budget for fiscal year 1999-00. These documents are available within the Accounting Division through the contact person indicated above under Section A C. Fund Structure The District currently use the Enterprise fund type for the nine individual revenue areas that comprise the District. Although the District's Board of Directors approve an annual budgetary operating plan each year, the District, in complying with general accepted accounting principles, do not integrate budgetary accounts into the proprietary fund accounting system for financial statement presentation. D. Federal and State Financial Assistance During the fiscal year to be audited, the District is not expected to receive any federal or state financial assistance. In previous years, the District has received federal grants from the Environmental Protection Agency. However, there is currently no available federal financial assistance under the Clean Water Act. 9 E. Pension Plan The District participates in the Orange County Employees Retirement System, a cost-sharing multiple-employer defined benefit pension plan. All District's full-time employees participate in this plan. F. Joint Ventures The District does not participate in any joint ventures with other governments. G. Magnitude of Finance Operations The District's Finance Department is headed by Gary G. Streed, Director of Finance and consists of 37.5 full time equivalent employees. The divisions within the Finance Department include Finance Administration, Accounting, and Purchasing. The Accounting Division is headed by Michael D. White, Controller and currently consists of 16.0 employees. The principal functions performed and the number assigned to each are as follows: Accounting Section Controller Manager Over: Revenues and Receivables Accounts Payable Fixed Assets Capital Project Accounting Subtotal Manager Over: Payroll Timekeeping General Ledger Budgeting Subtotal Total 10 Number of Employees 1 1 3 3 1 1 9 1 2 1 1 1 6 16 H. Computer Systems Hardware-The Financial System software is currently running on an IBM AS400 platform. The AS400 is accessible by Windows NT Clients. There are currently over 100 users accessing the system to either create purchase requisitions or to review the status of budgets. There are also approximately 45 heavy users located within the Finance and Human Resources Departments. Software-The present financial system software operates on proprietary applications developed by J. D. Edwards which were installed throughout 1996 and 1997. The application software database is 082. Major applications include: • Address Book • General Ledger • Accounts Payable • Accounts Receivable • Purchasing • Inventory • Sales Order • Fixed Assets • Job Cost • Budget • Payroll • Human Resources IV. TIME REQUIREMENTS A. Proposal Calendar The following is a list of key dates up to and including the date proposals are due: Request for proposal issued Due date for proposals B. Notification and Contract Dates Selected firm notified 11 December 16, 1999 January 14, 2000 February 15, 2000 Contract date March 15, 2000 Date Audit May Commence The District will have records ready for interim audit work and all management personnel available to meet with the firm's personnel as of May 1, 2000. C. Schedule for the 1999-00 Fiscal Year Audit (A similar time schedule will be developed for audits of future fiscal years if the District exercises their option for additional audits). Each of the following should be completed by the auditor no later than the dates indicated. 1. Detailed Audit Plan The auditor shall provide the Districts with a detailed audit plan by June 1, 2000. 3. Fieldwork The auditor shall complete all fieldwork by September 15, 2000. 4. Draft Reports The auditor shall have drafts of the audit report and recommendations to management available for review by the District's Finance, Administration and Human Resources Committee, the Director of Finance and Controller by September 29, 2000. D. Entrance Conferences, Progress Reporting and Exit Conferences (A similar time schedule will be developed for audits of future fiscal years if the District exercises their option for additional audits). At a minimum, the following conferences should be held by the time frames indicated on the schedule: Conferences Time Frame Entrance conference with key Finance Department personnel. 12 The purpose of this meeting will be to discuss the interim work to be performed. This meeting will also be used to establish overall liaison for the audit and to make arrangements for work space and other needs of the auditor. Progress conference with Director of Finance and Controller. The purpose of this meeting will be to summarize the results of the preliminary review and to identify the key internal controls or other matters to be tested. Progress conference with key Finance Department personnel. The purpose of this meeting will be to discuss the year- end work to be performed. Exit conference with Director of Finance and Controller. The purpose of this meeting will be to summarize the results of the field work and to review significant findings. 13 Prior to the start of interim audit work. Following the auditors' initial review of the District's internal accounting controls and prior to the completion of the interim audit work. Prior to the beginning of the year-end audit work. At the conclusion of the year-end audit work. E. Date Final Report is Due The Accounting Division shall prepare draft financial statements, notes and all required supplementary schedules and statistical data by September 15, 2000. The auditor shall provide all recommendations, revisions and suggestions for improvement to the Controller by September 22, 2000. The final Comprehensive Annual Financial Report, including auditor's report shall be delivered to the District's Finance, Administration and Human Resource Committee by October 11, 2000. The Director of Finance and Controller will complete their review of the draft report as expeditiously as possible. It is not expected that this process should exceed one week. During that period, the auditor should be available for any meetings that may be necessary to discuss the audit reports. Once all issues identified for discussion are resolved, the final signed report and 100 sheets of the auditing firm's letterhead shall be delivered to the Controller by September 29, 2000. V. ASSISTANCE TO BE PROVIDED TO THE AUDITOR AND REPORT PREPARATION A. Accounting Division The Accounting Division staff and responsible management personnel will be available during the audit to assist the firm by providing information, documentation and explanations. The preparation of the requested audit confirmations will be the responsibility of the District. The Accounting Division staff will endeavor to assist the audit staff by pulling vouchers, paid warrants, etc. and by providing copies of schedules prepared in the normal course of year end closing of the accounting records. The auditors will coordinate their efforts with the Accounting Division and should endeavor to accomplish the audit on a phased basis throughout the year to reduce the year-end workload on the accounting staff. B. Report Preparation The responsibility for preparation, editing, and printing of the Comprehensive Annual Financial Report shall be the responsibility of the District. VI. PROPOSAL REQUIREMENTS A. General Requirements 14 1. Pre-proposal Conference A pre-proposal conference may be scheduled with the Controller at the request of a prospective bidder to answer questions relative to this proposal request. 2. Submission of Proposals The following material is required to be received by January 14, 2000 for a proposing firm to be considered: a. A master copy (so marked) of a Technical Proposal and four copies to include the following: i. Title Page Title page showing the request for proposals subject; the firm's name; the name, address and telephone number of the contact person; and the date of the proposal. ii. Table of Contents iii. Transmittal Letter A signed letter of transmittal briefly stating the proposer's understanding of the work to be done, the commitment to perform the work within the time period, a statement why the firm believes itself to be best qualified to perform the engagement and a statement that the proposal is a firm and irrevocable offer for 60 days. iv. Detailed Proposal The detailed proposal should follow the order set forth in Section VI B of this request for proposals. v. Executed copies of Proposer Guarantees and Proposer Warranties, attached to this request for proposal (Appendix B and Appendix C) 15 b. The proposer shall submit a dollar cost bid in a separate sealed envelope marked as follows: SEALED DOLLAR COST BID PROPOSAL FOR ORANGE COUNTY SANITATION DISTRICT FOR PROFESSIONAL AUDITING SERVICES FOR THE YEAR ENDED JUNE 30, 2000 WITH AN OPTION FOR EACH OF THE FOLLOWING FOUR YEARS c. Proposers should send the completed proposal consisting of the two separate envelopes to the following address: 8. Technical Proposal Penny Kyle, Board Secretary Orange County Sanitation District P.O. Box 8127 10844 Ellis Avenue Fountain Valley, CA 92728-8127 1. General Requirements The purpose of the Technical Proposal is to demonstrate the qualifications, competence and capacity of the firms seeking to undertake an independent audit of the District in conformity with the requirements of this request for proposals. As such, the substance of proposals will carry more weight than their form or manner of presentation. The Technical Proposal should demonstrate the qualifications of the firm and of the particular staff to be assigned to this engagement. It should also specify an audit approach that will meet the request for proposals requirements. THERE SHOULD BE NO DOLLAR UNITS OR TOTAL COSTS INCLUDED IN THE TECHNICAL PROPOSAL DOCUMENT. The Technical Proposal should address all the points outlined in the request for proposals (excluding any cost information which should only be included in the sealed dollar cost bid). The Proposal should be prepared simply and economically, providing a straightforward, concise description of the proposer's capabilities to satisfy the 16 requirements of the request for proposals. While additional data may be presented, the following subjects, items Nos. 2 through 10, must be included. They represent the criteria against which the proposal will be evaluated. 2. Independence The firm should provide an affirmative statement that is independent of the District as defined by generally accepted auditing standards. The firm should also list and describe the firm's professional relationships involving the District for the past five (5) years, together with a statement explaining why such relationships do not constitute a conflict of interest relative to performing the proposed audit. In addition, the firm shall give the District written notice of any professional relationships entered into during the period of this agreement. 3. License to Practice in the State of California An affirmative statement should be included that the firm and all assigned key professional staff are properly licensed to practice in the State of California. 4. Firm Qualifications and Experience The proposer should state the size of the firm, the size of the firm's governmental audit staff, the location of the office from which the work on this engagement is to be performed and the number and nature of the professional staff to be employed in this engagement on a full- time basis and the number and nature of the staff to be so employed on a part-time basis. The firm is also required to submit a copy of the report on its most recent external quality control review, with a statement whether that quality control review included a review of specific government engagements. The firm shall also provide information on the results of any federal or state desk reviews or field reviews of its audits during the past three (3) years. In addition, the firm shall provide information on the circumstances and status of any disciplinary action taken or pending 17 against the firm during the past three (3) years with state regulatory bodies or professional organizations. 5. Partner, Supervisory and Staff Qualifications and Experience Identify the principal supervisory and management staff, including engagement partners, managers, other supervisors and specialists, who would be assigned to the engagement. Indicate whether each such person is licensed to practice as a certified public accountant in the State of California. Provide information on the government auditing experience of each person, including information on relevant continuing professional education for the past three (3) years and membership in professional organizations relevant to the performance of this audit. Provide as much information as possible regarding the number, qualifications, experience and training, including relevant continuing professional education, of the specific staff to be assigned to this engagement. Indicate how the quality of staff over the term of the agreement will be assured. The proposer should identify the extent to which staff to be assigned to the audit reflect the District's commitment to Affirmative Action. The audit staff should remain constant through each year's audit process. Engagement partners, managers, other supervisory staff and specialists may be changed if those personnel leave the firm, are promoted or are assigned to another office. These personnel may also be changed for other reasons with the express prior written permission of the District. However, in either case, the District retains the right to approve or reject replacements. Consultants and firm specialists mentioned in response to this request for proposal can only be changed with the express prior written permission of the District, which retains the right to approve or reject replacements. Other audit personnel may be changed at the discretion of the proposer provided that replacements have substantially the same or better qualifications or experience. However, at least one staff member from the prior year's audit is to be a member of the subsequent year's audit team. 18 6. Prior Engagements with the Districts List separately all engagements within the last five years, ranked on the basis of total staff hours, for the District by type of engagement (i.e., audit, management advisory services, other). Indicate the scope of work, date, engagement partners, total hours, the location of the firm's office from which the engagement was performed, and the name and telephone number of the principal client contact. 7. Similar Engagements With Other Government Entities For the firm's office that will be assigned responsibility for the audit, list the most significant engagements (maximum -5) performed in the last five years that are similar to the engagement described in this request for proposal. These engagements should be ranked on the basis of total staff hours. Indicate the scope of work, date, engagement partners, total hours, and the name and telephone number of the principal client contact. 8. Specific Audit Approach The proposal should set forth a work plan, including an explanation of the audit methodology to be followed, to perform the services required in Section II of this request for proposal. In developing the work plan, reference should be made to such sources of information as the District's budget and related materials, organizational charts, manuals and programs, and financial and other management information systems. Proposers will be required to provide the following information on their audit approach: a. Proposed segmentation of the engagement b. Level of staff and number of hours to be assigned to each proposed segment of the engagement NO DOLLARS SHOULD BE INCLUDED IN THE TECHNICAL PROPOSAL c. Sample size and the extent to which statistical sampling is to 19 be used in the engagement. d. Extent of use of EDP software in the engagement. e. Type and extent of analytical procedures to be used in the engagement. f. Approach to be taken to gain and document an understanding of the District's internal control structure. g. Approach to be taken in determining laws and regulations that will be subject to audit test work. h. Approach to be taken in drawing audit samples for purposes of tests of compliance. 9. Identification of Anticipated Potential Audit Problems The proposal should identify and describe any anticipated potential audit problems, the firm's approach to resolving these problems and any special assistance that will be requested from the District. 10. Report Format The proposal should include sample formats for required reports. NO DOLLARS SHOULD BE INCLUDED IN THE TECHNICAL PROPOSAL C. Sealed Dollar Cost Bid 1. Total All-Inclusive Maximum Price The sealed dollar cost bid should contain all pricing information relative to performing the audit engagement as described in this request for proposal. The total all-inclusive maximum price to be bid is to contain all direct and indirect costs including all out-of-pocket expenses. The District will not be responsible for expenses incurred in preparing and submitting the technical proposal or the sealed dollar cost bid. Such costs should not be included in the proposal. 20 The first page of the sealed dollar cost bid should include the following information: a. Name of Firm b. Certification that the person signing the proposal is entitled to represent the firm, empowered to submit the bid, and authorized to sign a contract with the District. c. A Total All-Inclusive Maximum Price for the fiscal year 1999-00 engagement. 2. Rates by Partner, Specialist, Supervisory and Staff Level Times Hours Anticipated for Each The second page of the sealed dollar cost bid should include a schedule of professional fees and expenses, presented in the format provided in the attachment (Appendix D), that supports the total all- inclusive maximum price. The cost of special services described in Section I E of this request for proposal should be disclosed as separate components of the total all-inclusive maximum price. 3. Out-of-pocket Expenses Included in the Total All-inclusive Maximum Price and Reimbursement Rates All estimated out-of-pocket expenses to be reimbursed should be presented on the second page of the sealed dollar cost bid in the format provided in the attachment (Appendix D). All expense reimbursements will be charged against the total all-inclusive maximum price submitted by the firm. 4. Rates for Additional Professional Services If it should become necessary for District to request the auditor to render any additional services to either supplement the services requested in this RFP or to perform additional work as a result of the specific recommendations included in any report issued on this engagement, then such additional work shall be performed only if set forth in an addendum to the contract between District and the firm . Any such additional work agreed to between District and the firm shall be performed at the same rates set forth in the schedule of fees and expenses included in the sealed dollar cost bid . 21 5. Manner of Payment Progress payments will be made on the basis of hours of work completed during the course of the engagement and out-of-pocket expenses incurred in accordance with the firm's dollar cost bid proposal. Interim billing shall cover a period of not less than a calendar month. VII. EVALUATION PROCEDURES A. Audit Selection Committee Proposals submitted will be evaluated by an Audit Selection Committee comprised of District's management staff. 8. Review of Proposals The Audit Selection Committee will use a point formula during the review process to score proposals. Each member of the Audit Selection Committee will first score each technical proposal by each of the criteria described in Section VII C below. The full Audit Selection Committee will then convene to review and discuss these evaluations and to combine the individual scores to arrive at a composite technical score for each firm. At this point, firms with an unacceptably low technical score will be eliminated from further consideration. After the composite technical score for each firm has been established, the sealed dollar cost bid will be opened and additional points will be added to the technical score based on the price bid. The maximum score for price will be assigned to the firm offering the lowest total all-inclusive maximum price. Appropriate fractional scores will be assigned to other proposers. The District reserves the right to retain all proposals submitted and use any idea in a proposal regardless of whether that proposal is selected. C. Evaluation Criteria Proposals will be evaluated using three sets of criteria. Firms meeting the mandatory criteria will have their proposals evaluated for both technical qualifications and price. The following represent the principal selection criteria which will be considered during the evaluation process. 22 1. Mandatory Elements a. The audit firm is independent and licensed to practice in State of California. b. The firm has no conflict of interest with regard to any other work performed by the firm for the District. c. The firm adheres to the instructions in this request for proposal on preparing and submitting the proposal. d. The firm submits a copy of its last external quality control review report and the firm has a record of quality audit work. 2. Technical Quality a. Expertise and Experience (1) The firm's past experience and performance on comparable government engagements (2) The quality of the firm's professional personnel to be assigned to the engagement and the quality of the firm's management support personnel to be available for technical consultation b. Audit Approach 3. Price (1) Adequacy of proposed staffing plan for various segments of the engagement (2) Adequacy of sampling techniques (3) Adequacy of analytical procedures (4) The degree of anticipated support requirements of District's staff. COST WILL NOT BE THE PRIMARY FACTOR IN THE SELECTION OF AN AUDIT FIRM 23 D. Oral Presentations During the evaluation process, the Audit Committee may, at its discretion, request any one or all firms to make oral presentations. Such presentations will provide firms with an opportunity to answer any questions the Audit Selection Committee may have on a firm's proposal. Not all firms may be asked to make such oral presentations. E. Final Selection The District will select a firm based upon the recommendation of the Audit Selection Committee. It is anticipated that a firm will be selected by February 15, 2000. Following notification of the firm selected , it is expected a contract will be executed between both parties by March 15, 2000. F. Right to Reject Proposals Submission of a proposal indicates acceptance by the firm of the conditions contained in this request for proposal unless clearly and specifically noted in the proposal submitted and confirmed in the contract between the District and the firm selected. The District reserves the right without prejudice to reject any or all proposals. 24 APPENDICES A. Organizational Chart B. Proposer Guarantees C. Proposer Warranties D. Format for Schedule of Professional Fees and Expenses to Support the Total All-inclusive Maximum Price 25 APPENDIX 8 PROPOSER GUARANTEES I. The proposer certifies it can and will provide and make available, as a minimum, all services set forth in Section II, Nature of Services Required. Signature of Official: --------Name (typed): ________ _ Title: ------------Firm: ------------Date: ------------ 26 APPENDIX C PROPOSER WARRANTIES A. Proposer warrants that it is willing and able to obtain an errors and omissions insurance policy providing a prudent amount of coverage for the willful or negligent acts, or omissions of any officers, employees or agents thereof. B. Proposer warrants that it will not delegate or subcontract its responsibilities under an agreement without the prior written permission of the District. D. Proposer warrants that all information provided by it in connection with this proposal is true and accurate. Signature of Official: ---------Name (typed): -----------Tit I e: -------------Firm: -------------Date: ------------- 27 APPENDIX D Page 1 SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE AUDIT OF THE FISCAL YEAR 1999-00 FINANCIAL STATEMENTS Partners Managers Supervisory staff Staff Other (specify): Subtotal Hours --- Standard Hourly Rates Total for services Described in Section 11 E of the RFP (Detail on subsequent pages) Out-of-pocket expenses: Meals and lodging Transportation Other (specify): ----- Quoted Hourly Rates Total all-inclusive maximum price for fiscal year 1999-00 audit Total Note: The rate quoted should not be presented as a general percentage of the standard hourly rate or as a gross deduction from the total all-inclusive maximum price. Since there is currently no available federal assistance under the Clean Water Act, assume that a single audit will not be required. If a single audit is subsequently determined to be required, the cost of the audit will be in accordance with Section Vl.8.10.C.4 .. 28 APPENDIX D Page 2 SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE AUDIT OF THE FISCAL YEAR 2000-01 FINANCIAL STATEMENTS Partners Managers Supervisory staff Staff Other (specify): __ _ Subtotal Hours Standard Hourly Rates Quoted Hourly Rates Total for services Described in Section 11 E of the RFP (Detail on subsequent pages) Out-of-pocket expenses: Meals and lodging Transportation Other (specify): ----- Total all-inclusive maximum price for fiscal year 2000-01 audit Total - Note: The rate quoted should not be presented as a general percentage of the standard hourly rate or as a gross deduction from the total all-inclusive maximum price. Since there is currently no available federal assistance under the Clean Water Act, assume that a single audit will not be required. If a single audit is subsequently determined to be required, the cost of the audit will be in accordance with Section Vl.8.1 0.C.4 .. 29 APPENDIX D Page 3 SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE AUDIT OF THE FISCAL YEAR 2001-02 FINANCIAL STATEMENTS Partners Managers Supervisory staff Staff Other (specify): Subtotal Hours --- Standard Hourly Rates Total for services Described in Section I I E of the RFP (Detail on subsequent pages) Out-of-pocket expenses: Meals and lodging Transportation Other (specify): ----- Quoted Hourly Rates Total all-inclusive maximum price for fiscal year 2001-02 audit Total - Note: The rate quoted should not be presented as a general percentage of the standard hourly rate or as a gross deduction from the total all-inclusive maximum price. Since there is currently no available federal assistance under the Clean Water Act, assume that a single audit will not be required. If a single audit is subsequently determined to be required, the cost of the audit will be in accordance with Section Vl.8.1 0.C.4 .. 30 APPENDIX D Page4 SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE AUDIT OF THE FISCAL YEAR 2002-03 FINANCIAL STATEMENTS Partners Managers Supervisory staff Staff Other (specify): Subtotal Hours --- Standard Hourly Rates Quoted Hourly Rates Total for services Described in Section 11 E of the RFP (Detail on subsequent pages) Out-of-pocket expenses: Meals and lodging Transportation Other (specify): ----- Total all-inclusive maximum price for fiscal year 2002-03 audit Total - Note: The rate quoted should not be presented as a general percentage of the standard hourly rate or as a gross deduction from the total all-inclusive maximum price. Since there is currently no available federal assistance under the Clean Water Act, assume that a single audit will not be required . If a single audit is subsequently determined to be required, the cost of the audit will be in accordance with Section VI.B.1 0.C.4 .. 31 APPENDIX D Page 5 SCHEDULE OF PROFESSIONAL FEES AND EXPENSES FOR THE AUDIT OF THE FISCAL YEAR 2003-04 FINANCIAL STATEMENTS Partners Managers Supervisory staff Staff Other (specify): Subtotal Hours --- Standard Hourly Rates Total for services Described in Section 11 E of the RFP (Detail on subsequent pages) Out-of-pocket expenses: Meals and lodging Transportation Other (specify): ___ _ Quoted Hourly Rates Total all-inclusive maximum price for fiscal year 2003-04 audit Total - Note: The rate quoted should not be presented as a general percentage of the standard hourly rate or as a gross deduction from the total all-inclusive maximum price. Since there is currently no available federal assistance under the Clean Water Act, assume that a single audit will not be required. If a single audit is subsequently determined to be required, the cost of the audit will be in accordance with Section VI.B.10.C.4 .. 32 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Lisa Tomko, Acting Director of Human Resources Originator: Judy Bucher, Human Resources Analyst Meeting Date 12-8-99 Item Number FAHR99-97 SUBJECT: CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM (CALPERS) VALUATION GENERAL MANAGER'S RECOMMENDATION Approve an agreement with California Public Employees' Retirement System (CalPERS) authorizing actuarial valuation to determine contribution costs to the District if the District were to enter into an agreement with Cal PERS, for an amount not to exceed $1,400. SUMMARY From time to time, the District seeks information from other retirement systems regarding contribution rates, benefits and benefit formulas in order to compare these factors with our current retirement plan, the Orange County Employees Retirement System (OCERS). The process requires an actuarial valuation to be performed to determine contribution costs if the District were to enter into an agreement with CalPERS. CalPERS performs actuarial valuations for a benefiUage factor of 2% at age 50, 55 and 60. We are requesting two separate valuations to be made by CalPERS for comparison: 2% at age 55 and 2% at 60. In addition to pension benefits and contribution costs, the District is seeking information on other benefits available to CalPERS employees and retirees, including optional health plans. Authorization by our Board of Directors is required for CalPERS to go forward with the necessary valuations. PROJECT/CONTRACT COST SUMMARY The cost of each actuarial valuation is $700. We are requesting that CalPERS perform the two valuations for a total cost of $1,400.00. BUDGET IMPACT [8J This item has been budgeted. (Line item: Other Professional Services) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. D Not applicable (information item) H:\wp.dtalagenda\FAHR\Fah199199ar\FAHR99-97.doc Revised: 8/20/98 Page 1 To Bd. of Dir. 12-15-99 Item Number ADDITIONAL INFORMATION NIA ALTERNATIVES Leave the Orange County Employees Retirement System in place and not compare contribution rates or benefits with CalPERS. CEQA FINDINGS N/A ATTACHMENTS Contract of Public Employees Retirement System for an actuarial valuation. Attachments and exhibits. H:lwp.dtalagenda\FAHR\Fahr99199at\FAHR99-97.dac R.....t 11/20,'98 Page2 ~l-CalPERS Actuarial & Employer Services Division P.O. Box 942709 Sacramento, CA 94229-2709 Telecommunications Device for the Deaf -(916) 326-3240 (916) 326-3420 FAX (916) 326-3005 September 29, 1999 .. Ms. Judy Bucher Human Resources Analyst/Benefits Orange County Sanitation District P.O. Box 8127 Fountain Valley, CA 92728-8127 Dear Ms. Bucher: Reply to Section 105 Enclosed are three copies of a contract for the actuarial valuations requested. This contract authorizes development of the actuarial valuation reports. To proceed with the valuations: 1. Have an authorized individual sign and date each copy of the contract. 2. Return two copies (with original signatures) to this office. The agency will be billed after the results have been forwarded. Please do not remit payment prior to receipt of the billing invoice. Your request will be processed in the order in which it was received by CalPERS, we appreciate your patience. If you have any questions, please contact me at (916) 326-3712. Sincerely, cst:z, · (}~ -~ ~ Debbie LaPerle Employer Representative Public Agency Contract Services DP:db Enclosures PERS-CON-1 (Rev. 3/99) California Public Employees' Retirement System Lincoln Plaza -400 P Street -Sacramento, CA 95814 CALIFORNIA PUBLIC EMPLOYEES' RETIREMENT SYSTEM Actuarial and Employer Services Division Public Agency Contract Services P.O. Box 942709 Sacramento, CA 94229-2709 (916) 326-3420 CONTIUCT OFTHE BOARD OF DIRECTORS WITH THE BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYSTEM FOR AN ACTUARIAL VALUATION AS ST A TED HEREIN By this AGREEMENT made this ___ day of __________ , 19 __ . in accordance with and subject to the provisions of the Public Employees' Retirement Law by and between the Board of Directors of the Orange County Sanitation District hereinafter referred to as Public Agency, and the Board of Administration, Public Employees' Retirement System, hereinafter referred to as Board, Public Agency and Board agree as follows: A. Public Agency herewith retains the services of said Board to perform the valuations required by Section 20466 of the Public Employees' Retirement Law for the purpose of determination by the Board of Administration of the Public Employees' Retirement System of the contributions to be made by Public Agency if a contract is entered into with said Board which provides for benefits as described in the attached "Exhibit". B. Public Agency will pay $1,400.00 to the Retirement System upon completion of the actuari al valuation, such fee being based on the number of membership categories involved. C. Any and all data and information requested by the Board from Public Agency for use in compilation of this valuation shall be furnished upon request. The actuarial tables and procedures to be used in the valuation shall be in accordance with the tables approved by said Board of Administration. Board shall have sole control of the valuation and its judgement in the determination thereof shall be final and conclusive. All work sheets and final results an d reports. the product of the valuation. shall be and remain the propertv of the Board. Witness our hands the day and year first above written. BOARD OF ADMrNISTRA TION PUBLIC EMPLOYEES' RETIREMENT SYSTEM BY _______________ _ KENNETH W. MARZION, CHIEF ACTUARIAL& EMPLOYER SERVICES DIVISION PUBLIC EMPLOYEES' RETIREMENT SYSTEM Valuation Contract PERS-CON-61\ (Rev. 7/96) BOARD OF DIRECOTRS OFTHE ORANGE COUNTY SANITATION DISTRICT BY --------------- TITLE -------------- EXHIBIT DATE: September29, 1999 LOCAL FIELD OFFI CE: Orange Regional Office 500 North State College Blvd. Suite 750 Orange, CA 92868 (714) 935-2625 FAX: 935-2628 AGENCYNAME: ORANGE COUNTY SANITATION DISTRICT SOCIAL SECURITY COVERAGE Effective Date Exclusions RETIREMENT COVERAGE Formula Account Code Prior Service% Member Contribution Rate OPTIONAL BENEFITS POSITIONS EXCLUDED FROM CALPERS MEMBERSHIP SAFETY EMPLOYEES LOCAL SYSTEM Money Transferred to Employees Account Employer Money Transferred Inactives Transferred Retirees Transferred PERS-CON-I 9M (Rev, 1/96) MISCELLANEOUS MODIFIED FULL/SUPP NO 2%@55 Full H4 0% 7% NO YES NO NO NO NO NO ~PERS Actuarial & Employer Services Division P.O. Box 942709 Sacramento, CA 94229-2709 Telecommunications Device for the Deaf -(916) 326-3240 (916) 326-3420 FAX (916) 658-1586 MISCELLANEOUS Following is a summary of benefits and exclusions which are included in all contracts and a display of benefits and benefit formulas which will be utilized in the actuarial calculation for your agency. Retirement law provides the following benefits in each contract: Three highest years final compensation average* Pre-Retirement Death Benefit-1957 Survivor Benefit* Post-Retirement Death Benefit -$500 lump sum payment* You are permitted to contract with PERS by category. This means that you are not required to include Police and fire and Miscellaneous. However, all employees in a covered category must be members of the Retirement System unless they are specifically excluded by the Government Code as follows: The appointment or employment contract fixes a term of full-time, continuous employment of six months or less. Employees serving on a part-time basis where his position requires service for less than an average of20 hours a week. Persons in employment which, in the opinion of the board, is on a seasonal, limited-term, on-call, emergency, intermittent, substitute, or other irregular basis until the employee works more than 125 days or 1,000 hours within the fiscal year. CETA employees hired after July 1, 1979, if they are in positions that would otherwise qualify then as PERS miscellaneous members (non-safety). CETA employees hired into safety positions such as policemen or firemen are not excluded from CalPERS membership. -*Please refer to the CalPERS booklet. PERS-CON-19M (Ri:v. 1/96) California Public Employees' Retirement System Lincoln Plaza -400 P Street -Sacramento, CA 95814 EXHIBIT DATE: September29, 1999 LOCAL FIELD O FFl CE: Orange Regional Office 500 North State College Blvd. Suite 750 Orange, CA 92868 (714) 935-2625 FAX: 9352628 AGENCY NAME: ORANGE COUNTY SANITATION DISTRICT SOCIAL SECURJTY COVERAGE Effective Date Exclusions RETIREMENT COVERAGE Formula Account Code Prior Service% Member Contribution Rate OPTIONAL BENEFITS POSITIONS EXCLUDED FROM CALPERS MEMBERSHIP SAFETY EMPLOYEES LOCAL SYSTEM Money Transferred to Employees Account Employer Money Transferred Inactives Transferred Retirees Transferred PERS-CON-I 9M (R1:va 1/96) M1SCELLANEOUS MODIFIED FULL/SUPP NO 2%@60 Full 00 0% 7% NO YES NO NO NO NO NO ... FAHR COMMITTEE Meeting Date To Bd. of Dir. 12/08/99 AGENDA REPORT Item Number Item Number FAHR99-98 Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: STATUS REPORT ON SEARCH FOR SEPTIC TANKS GENERAL MANAGER'S RECOMMENDATION Receive and file status report and request the Committee Chair to write to agencies that have not yet responded. SUMMARY The Sewer User Fee Program relies upon the database of the Orange County Assessor as modified by the District. One piece of information missing from the database but important to the District is whether a developed property is connected to a sewer or uses a septic tank. In order to obtain this information, staff has sent letters of request to 25 local agencies in our service area. Responses have been received from twelve agencies as shown on the attached schedule. · The District is considering a couple of initiatives that involve septic tank users. In order to make policy recommendations, the Steering Committee has asked for a count of current septic tank users. Staff recommends the FAHR Committee ask the Chair to send follow-up letters to the thirteen agencies that have not responded. PROJECT/CONTRACT COST SUMMARY NIA 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. [8] Not applicable (information item) H:lwp.clta\agenda\FAHR\Fahr99199ar\FAHR99-98.dcx: Re\'ised: 8/20/98 Page 1 ADDITIONAL INFORMATION None. ALTERNATIVES NI/A CEQA FINDINGS N/A ATTACHMENTS 1. Responses to septic tank letters. H:\wp.dta\agendalFAHRIFahr99199ar\FAHR99-98.doc Revised: 81201118 Page2 11/30/1999 ") I City Anaheim Brea Buena Park Costa Mesa San Cypress Fountain Valley Fullerton Garden Grove Huntington Beach Irvine La Habra La Palma Los Alamitos Midway City San Newport Beach Orange Placentia Santa Ana Seal Beach Stanton Tustin Villa Park Westminster Yorba Linda Water County of Orange Totat Response N y N N y y y y y N N N N N y Pending N N N y y N N y Pending Responses to Septic Tank Letters As Of November 30, 1999 # On Septic City or San District Comment, If Any 18 0 0 No Data 43 1 0 5 Will research on address basis, if requested Needed three more weeks Nov 9, 1999 11 :08 AM Notified By Prop Owner 1 1 1 1 9 4 "Several" ''To identify each parcel would be extremely time consuming, if not impossible" 2 1 817 Mike Ruane told Don McIntyre he would supply the data. ------ 884 20 G:\excel.dta\fin\220\weingard\Septic Tank Stuff\city responses to septic FAHR COMMITTEE Meeting Date 12/08/99 AGENDA REPORT Item Number Orange County Sanitation District FROM: Robert P. Ghirelli, Director of Technical Services Originator: Michael D. Moore, Manager of Environmental Compliance and Monitoring SUBJECT: FINAL REPORT FOR HUNTINGTON BEACH CLOSURE INVESTIGATION GENERAL MANAGER'S RECOMMENDATION FAHR99-99 1) Receive and file Huntington Beach Closure Investigation Final Report dated December 1999. SUMMARY The District participated in a lead role in the investigation of the Huntington Beach contamination that caused Huntington Beach closures during the summer of 1999. The District incurred significant costs as a result of our due diligence efforts in proving the contamination was not due to any of the our facilities (outfall, discharge plume, trunklines). The beach closure, which lasted from the Fourth of July weekend to the Labor Day weekend, required thorough investigative and support efforts that resulted in significant Engineering, Technical Services, General Services, Communications and Administrative costs. The level of District effort, overall costs, and cost allocations have been summarized at the various Committee meetings. The Huntington Beach Closure Investigation Final Report associated with this agenda item documents the investigation of beach contamination from the District's perspective. It explains the strategies that staff used to eliminate the District's suspected facilities. Strategies included surfzone and offshore bacterial monitoring, area sewer lines CCTV inspections, and an outfall dye test. Special studies were also performed by the District to attempt to show that urban runoff was a reasonable potential source. The District has concluded that none of its facilities contributed to the beach contamination during the summer of 1999. However, the direct link between Huntington Beach area storm channels and Santa Ana River urban runoff could not be concretely established, although circumstantial evidence was encountered. The County of Orange and its Board of Supervisors are organizing a watershed management plan and interagency task force to follow-up up on this and other urban runoff issues. H:\wp.dtalagenda\FAHR\Fahr99\99ar\FAHR99-99.doc Revised: 115198 Page 1 To Board 12/15/99 Item Number Copies of the final report will be sent to the Regional Water Quality Control Board, U.S. Environmental Protection Agency, and others who participated in the investigation. A copy of the final report's executive summary is attached. PROJECT/CONTRACT COST SUMMARY Thus far, based on purchase orders and other data, it is estimated the District has spent nearly $1.5 million on all efforts related to the Huntington Beach closure investigation and Coast Trunkline siphon rehabilitation (Table 1 ). Project expenses and labor being proposed for allocation to Revenue Area 11 include the siphon rehabilitation, all Area 11 sewer line cleaning, and all Area 11 CCTV inspections. The siphon rehabilitation and some of the cleaning associated with the siphon project should be capitalized. The other costs to be shared among all the Revenue Areas include the outfall dye test and general contamination investigations (monitoring wells, hydropunching, urban runoff studies, and surfzone and offshore monitoring). These general investigations allowed the District to demonstrate its facilities were not the cause of the contamination and suggested other probable sources. 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. t8J Not applicable (information item) This is an information item only. ADDITIONAL INFORMATION :~~Tibla;,f•*U aatedr'A· e ~ c· sts;'tcr-.::to ·r ·mo·~aeach,Closure·lnVesf"• · ti~~ii!Jll~ • __ .,,,. _____ .,,. . .. _;e; P '" 9 lflC uL .P . .. _r. .. 01 Ill . JJ-;1 • _ ~ ]91! --= .. = .. "'""'"' Activity DISTRICT COSTS Coast Trunk Siohon Proiect Flow Monitoring Studies Siphon Leak Inv. & Cleaning* Siphon Debris Hauling Diversion Structure Siphon Enaineerina & Retrofit SUB-TOTAL *inc. Newland area cleaning Vicinitv Characteristics Research Ground Penetrating Radar H:lwp.dtalagenda\FAHR\Fahr99\99ar\FAHR9S-99.doc RtMAd: 115/D8 $ $ $ $ $ $ $ OCSD$ Revenue Area 11 Capitalized? vs. Joint Cost 18,065 RA11 382,078 est. RA11 Some Capitalized 7 577 RA11 121,458 est. RA11 195,000 est. RA11 Capitalize 724,178 9,720 Joint Page2 ~;i~1.!lii1I:1iT~ltle''1.:\;Uptlated' Ageney:,Costs:tc>r1HuotingtQn'.'Seach"C.losure~lnvttstlgatjQh~ Activity OCSD$ Beach Survevina & Hydropunching $ 81,000 Archived Docs Review & Aerial Photo $ 7,075 Talbert Marsh Study & Correlations $ 48,143 Outfall Dye Project $ 82,389 SUB-TOTAL $ 228,327 Sewer lns~ection/Rehab Services CCTV/Clean Huntington State Beach $ 27,590 Area CCTV/Clean Lower District 11 $ 5,928 Other line cleaning services $ 11,941 Sewer Repair Services for State Parks $ 20,822 Potholing beside Lines $ 24,000 SUB-TOTAL $ 90,281 In-house Lab Services Fully-loaded Sample Costs (thru 11/8) $ 93,175 Enchanter Boat $ 2,800 SUB-TOTAL $ 95,975 Other Administrative Costs Documents, Mapping, etc. $ 1,274 Accumulated Staff Time (thru 9/30) $ 411,000 SUB-TOTAL $ 412,274 Other Agenci Costs to the District Outstanding Reimbursement from State Parks Listed Jurisdiction GRANOffOT~L ;FOR DISTR!CTi "TIITR>itr!h,,~$ .j ,.~99,353 OTHER AGENCY COSTS City of Huntington Beach State of California, Department of Parks and Recreation County of Orange, Environmental Health County of Orange, Flood Control (PFRD) SUB-TOTAL ~t~!~~~tE£,i l;q~~S ;;.•:fi r:rn . .. !!i!ii! i:i, !ii;, ,g• ·:,. .. =,, H:lwp.dtalagenda\FAHR\Fahr99\99ar\FAHR99-99.doc Revised: 115198 $ 335,133 $ 121,869 $ 75,959 $ 28,555 $ 561,516 ~. 2,06Q,86!f .. Revenue Area 11 Capitalized? vs. Joint Cost est. Joint est. Joint est. Joint est. Joint Reimbursable RA11 RA11 Reimbursable est. RA11 Joint Joint Joint est. Reflective of Project Phase [Joint + RA 11 (siphon)l Page3 ALTERNATIVES Not Applicable. CEQA FINDINGS Not Applicable. ATTACHMENTS 1) Attachment A -Huntington Beach Closure Investigation Final Report Executive Summary DEH H:\wp.dtalagenda\FAHR\fah199199ar\FAHR99-99.doc ReviMd: 115198 Page4 quickly repaired. No exfiltration from District sewers was discovered during any of the CCTV inspections. Another offshore survey conducted in August 1999 was performed to affirm that the nearshor ·o of th~~c 'sin-st e 120-~ (Priority 1) was not th cause f th~ beach ntam· a ·on. Nqne of the offsh re samples collected dur ng this s rv~ed . nifica tly el vaten~ of bact ria, while several of th concurr nt~monit°!~ tati:rs did. Other lnvest1qat1ve Technologies With the integrity of the Coast Trunkline, the inverted siphon, the State Parks' restrooms, and all ancillary sewer lines confirmed; the District employed other investigative efforts to locate the source of contamination. State-of-the-art technologies including ground penetrating radar, sonar, and infrared imaging; were used to search for unmapped pipes or other anomalies that could be transporting contaminated water to the beach. None were found. The District also conducted extensive groundwater sampling in an attempt to locate pockets of contaminated groundwater. Site-specific samples were taken near sewer lines, in front of two trailer parks, and at an abandoned hazardous waste site, but no elevated bacterial levels were found. An extensive document search and aerial photo review was performed to identify possible source sites from the historical records, but no significant sources were discovered that had not already been identified and were under investigation. The ocean water intake and outlet outfalls from the power plant (Priority 3), the power plant onsite facilities (Priority 4), and the dewatering at a construction site (Priority 4) were examined. None of the sources was implicated. The Effect of Urban Runoff After eliminating possible onshore or offshore sources of sewage contamination, the investigation began to look at urban runoff (Priority 2) in late August 1999. This source was not investigated earlier because the closest urban runoff outlet to beach area where the contamination was first detected was nearly 8,000 feet away. It must also be noted that as time progressed the profile of the bacteria found at the beach changed. While high levels of total coliform, fecal coliform, and enterococci were found initially; over time only high levels of enterococci persisted. Enterococci levels disproportionately higher than total and fecal coliform levels suggest a higher probability of contamination from urban runoff rather than sewage. In this part of the investigation, three-storm water pump stations operated by the City of Huntington Beach and one operated by the County of Orange were tested and found to contain very high levels of all three indicator bacteria. A study of the channels and the marsh was initiated because these pump stations delivered ES-2 ES-4 / FAHR COMMITTEE Meeting Date 12/.08/99 AGENDA REPO~T Item Number FAHR99-100 Orange County Sanitation District FROM: Patrick Miles, Director of Information Technology Originator: Robert Thompson, Plant Automation Manager To,Jt Bds. Item Number SUBJECT: YEAR 2000 DATE COMPLIANCE PROJECT -YEAR END STATUS REPORT GENERAL MANAGER'S RECOMMENDATION Informational Item SUMMARY The District is nearing the completion of its Y2K readiness project. Since the summer of 1998, the District has implemented the five-step process of preparing its internal computing systems, process control systems and embedded computer devices for the millennium rollover. The following is a partial list of the District's accomplishments: • All internal systems have either been repaired/replaced or found to have no date issues. For non-critical systems with potential date issues, the District has developed contingency plans, which will be implemented based on a "run-to-fail" strategy. • By enhancing the Emergency Operating Procedures, the District has improved its ability to cope with external problems like power failures, telecommunications outages, and water and chemical delivery interruptions. • External Source Control Permittees have been educated and made aware of their responsibilities with regard to discharge requirements and Y2K. • On December 31 •t, the District will activate the Incident Command System with comprehensive staffing levels as authorized by the Board of Directors. Activation of the Incident Command System was successfully tested in early November 1999. _The Table Top exercise was similar to the training completed in preparation for El Nino. • The District has been, and will continue to work cooperatively with the State, County, and Municipal regulators and emergency management agencies. PROJECT/CONTRACT COST SUMMARY As of November 22, 1999, the District has spent $2.4 million. The total project is budgeted for $3.46 million. Total costs anticipated through January 2000, are approximately $2.75 million. 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 OCSD began actively addressing Year 2000 issues in the summer of 1998. The District's approach to the Y2K project assessed internal treatment and non-treatment processes. Four Y2K program objectives were established early on and further defined the priorities of the project. Objective 1: Ensures personnel and public safety, as well as water flow into and out of the plants. Objective 2: Ensures that wastewater is treated to meet quality requirements. Objective 3: Ensures that permit compliance documentation requirements are met. Objective 4: Ensures that normal business processes continue. To address the concerns of Objective 1, the District's assessment of its internal treatment-process systems was divided into two efforts; assessment of embedded devices at the component level; and assessment at the process control system level. At the component level, a detailed assessment was conducted for the 20,000+ microprocessor-based instrument devices distributed throughout the District's facilities. By the end of the 1st quarter, this intensive assessment resulted in a reduction to 2100 components requiring additional due diligence. This number was further reduced and currently there are approximately 120 items under a "run-to-fail" philosophy whereby contingency plans have been developed for the unit if it is not critical to plant operation and becomes inoperative over the New Year's weekend. All other items have been upgraded and have undergone final testing. The process control system is comprised principally of networked Programmable Logic Controllers (PLCs) and Supervisory Control and Data Acquisition (SCADA) systems. PLCs are the process decision-making computers that control motors, valves and other devices. The SCADA systems serve as human/machine interfaces and allow LI$ to remotely monitor processes and issue process commands to PLCs. After a considerable number of upgrades, these processes, along with non- networked PLCs are Y2K-ready. Each treatment plant produces its own electrical power via Cooper-Cameron engine-generator sets in our Central Generation plants. The proprietary Cooper-Cameron control systems were upgraded by the manufacturer to become Y2K compliant. A comprehensive systems test of the Central Generation Plants was then completed to ensure these engines have no Y2K or other date-related problems. In addition, electrical power is available to completely run the plants from Southern California Edison. The District has confidence in both of these sources; however, the District chose to accelerate a previously planned Capital Improvement Project which includes the installation of two 2 megawatt diesel generators at the Plant 2 Headworks. In the unlikely event that both CenGen and Edison have unexpected Y2K problems, these Y2K-compliant generators will ensure the pumping of influent into Plant 2, even under wet weather conditions. This project is on-target for a mid-December completion. H:\wp.dta\agenda\FAHR\Fahr99\99ar\FAHRW-100.doc Revised: 1013197 Page2 The various satellite pump stations which are integral to our collection system, have been reviewed and tested for Y2K compliance. Additional mobile stand-by generators were purchased and rented, and will be staged at selected sites. The District will have its 1500 gal. tanker truck fueled at the end of December and staged appropriately to ensure sufficient diesel is available to all pump station generators in case of regional electrical failures. The District's Integrated Emergency Response Plan (IERP) was augmented to include additional chapters that enhanced our Emergency Operating Procedures (EOP) related to major utility outages -electricity, gas, water, and air-monitoring systems. These procedures will not only prove useful under various Y2K-related scenarios but under other circumstances involving natural disasters and the like. Refresher Incident Command System training was given to all standby personnel and a tabletop exercise was conducted in early November. This approach is patterned after the El Nino preparations two years ago that was highly successful. The tabletop exercise included the staff scheduled to be on duty during the January 1, 2000 weekend. Several problematic events were given and command staff simulated responses by deploying the anticipated resources. Simulated problems included scattered power and telecommunications outages in the County, a call for mutual aid, power outages in the treatment plants, and in plant computer network interruptions. As part of our Y2K preparedness, we have added additional Administrative, Operations, Maintenance and Information Technology staff for the Y2K weekend. These individuals will be working closely with our Emergency Operations Center, which will be activated New Year's Eve. Staff will be prepared to implement any component of our IERP or other Y2K contingency plans. Additional staff positions assigned for the Y2K weekend has been nearly 100% voluntary. As well, the District is working to participate in the State of California's "Follow the Sun" Program, which will monitor the year 2000 roll-over and potential impacts as they occur around the world. As related to non-treatment systems (Objectives 2-4), OCSD's financial information system hardware, operating system, and application software were upgraded to be Y2K compliant. Software updates were accomplished in July and final testing was completed both on-site and at the vendor's regional offices. Contingency plans have been developed in the event of unexpected failures. The laboratory identified many items with specific Y2K problems and purchased the necessary replacement equipment, which has been installed. Additionally, it was determined that back-up power to the laboratory was important to ensure the preservation of various refrigerated samples. As a result, an emergency backup power feed from the Central Generation system has been added to the lab building. Y2K upgrades to a significant number of OCSD's PCs and servers have been completed. All personal computer systems in the District will be Y2K-ready. As well, OCSD's data networking system is Y2K compliant. H:\wp.dtalagenda\FAHR\Fahr99199ar\FAHR99-1 DO.doc Revised: 10/3197 Page3 Other systems that were assessed include HVAC equipment, telephones, radios, elevators, etc. No significant problems with these systems have been found to date. Our new security and fire systems have been certified as Y2K compliant by the vendor. As new purchases are made, District staff are ensuring those items are Y2K compliant. The Source Control Division has completed an awareness building campaign with our premittees. Letters were sent explaining the nature of the Y2K. A seminar was conducted by the District to inform our permittees about the technical and legal aspects of Y2K. Source Control inspectors discussed the subject with our permittees during the regularly scheduled quarterly visits. The District has accomplished the goal of achieving Y2K readiness, in accordance with the program objectives, throughout its treatment and non-treatment processes. The final phases of due diligence are expected to be complete in December 1999. ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS N/A RC H:\wp.dta\agenda\FAHR\Fahr99199ar\FAHR99-100.doc Rewied: 10/3/97 Page4 INVESTMENT MANAGEMENT PROGRAM Orange County Sanitation District STRATEGY REVIEW FOR THE PERIOD JULY 1, 1999 -SEPTEMBER 30, 1999 -FINANCE, ADMINISTRATION'& HUMAN RESOURCES COMMITTEE , I DECEMBER 8, 1999 1 840 Newport Center Drive Post Office Box 6430 Newport Beach California 92658-6430 949 · 640-3031 -. - - • . -. . . ---• . • -• = ~ \ -•• I •• -, .. , -~ •. ---• - • • "~ PACIFIC INVESTMENT MANAGEMENT COMPANY AGENDA BOND MARKET REVIEW II PERFORMANCE/ PORTFOLIO REVIEW Ill CURRENT OUTLOOK/ STRATEGY PACIFIC INVESTMENT MANAGEMENT COMPANY REVIEW OF PERFORMANCE Through September 30, 1999 • Long-Term Operating Fund Since* Inception 9/30/95 3 Yrs.* 2 Yrs.* 1 Yr. 9 Mos. 3 Mo. 9/30/99 Market Value Orange County Sanitation District (L-T) (%) 6.3 6.6 5.8 2.2 1.6 1.2 $271,125,096 Merrill 1 - 5 Year Gov't. I Corp. Index (%) 6.0 6.2 5.6 2.3 1.8 1.1 • Liquid Operating Fund Since* Inception 9/30/95 3 Yrs.* 2 Yrs.* 1 Yr. 9 Mos. 3 Mo. 9/30/99 Market Value Orange County Sanitation District (Liq-op) (%) 5.5 5.5 5.4 5.0 3.7 1.3 $19,287,393 3 Month T-Bill (%) 5.1 5.0 4.9 4.6 3.4 1.2 • Annualized. 4 PACIFIC INVESTMENT MANAGEMENT COMPANY 7 Currency Gains Prop Up Non-U.S. Stocks In a quarter filled with red ink for U.S. equity investors, foreign stocks stood out. For only the second time in the last 21 quarters, the MSCI 7 EAFE Index (+4.39%) outperformed the all-powerful S&P 500 (-6.24%). EAFE's return, however, was a result of dollar weakness, as 1 the local currency-based index lost 1.41 %. Indeed, of the 20 countries in the index, only five posted gains in local currency terms. The best per--1 forming market was Japan, returning 15.84%, of which the surging yen I provided 13.68%. New Zealand was the worst performing market, as its poor local return (-4.81 %) was compounded by a weak currency, regis-r-] tering a 7.23% loss in dollar terms. Europe Europe once again lagged the Pacific Basin with the MSCI Europe Index rising 1.17% for the quarter (-2.41 % in local currency). The euro stopped its slide against the dollar that began at its inception, rising 3.27%. The euro nearly reached parity with the dollar when it hit its low of 1.0136 on July 14, but closed out the quarter higher at 1.0684. The Scan--1 dinavian countries of Norway and Denmark led Europe with gains of I 0.84% and 10.60% respectively. France and Germany, who are showing signs of renewed economic strength, returned 5.26% and -1.24%. The MSCI United Kingdom In- \ dex was down 0.51 % even with a sterling gain of nearly 4.5%. In Eu- rope ex-U.K., value and growth stocks were just about even while value significantly outperformed growth in the U.K. by a spread of 6.52%. 1 _J Pacific Basin The MSCI Pacific Index gained 11.43%, primarily on the yen's strength. The surging currency made an otherwise modest return in Ja- Non-U.S. Equity Returns for Quarter Ended September 30, 1999 pan ( + 1.90% in local currency) into a stellar one. Japanese sec- ond-quarter GDP exceeded market expectations, rising 0.2%, but more importantly, pri- Last Quarter vate consumption rose 0.8% U.S. Dollar Local Currency EAFE Eurooe U.S. Dollar Local Currency EAFE Pacific U.S. Dollar Local Currency Emerging Markets U.S. Dollar 4.39 -1.41 1.17 -2.41 11.43 0.67 -5.15 over the last quarter despite fall- ing personal incomes. Net for- eign purchases continued to be high and focused on growth stocks. Growth stocks have out- performed value stocks by ap- proximately 4% year-to-date. U.S. interest rate concerns and yen strength continued to unsettle the Far East markets. These developments combined with the turmoil in East Timor and earthquakes in Taiwan had an ad- verse impact on markets. The Pacific ex-Japan index posted a loss of nearly 5%. Emerging Markets The MSCI Emerging Markets Free Index reversed its steady rise this year with a loss of 5.15% during the third quarter. The EMF Asia and Europe & Middle East components returned-7.68% and 6.68%, respec- tively. The Latin American political scene is uncertain due to upcoming elections in Chile, Argentina and Mexico. The region lost 9.01 % in the quarter. Dropping 12.72%, Mexico shared the market malaise experi- J enced in the U.S. -CMR• l Weak Dollar Rescues Foreign Bonds The dollar's weakness propelled the Salomon Smith Barney World Government Bond Index ex-U.S. to a 6.12% gain in US$ terms; the Index was virtually flat in local currency (-0.32%). Outside of the dollar bloc, all of the developed bond markets suffered losses in local terms during the quarter, yet unhedged U.S. investors were bailed out by a weak currency. The story in general this quarter was one of strong eco- nomic growth tainted by hints of inflation. Europe The euro zone witnessed continued signs of modest growth, but sev- eral recent indicators, including the Purchasing Manager Index, pointed towards slightly greater than ex- pected inflation mostly due to ris- ing energy prices. The European Government Bond Index fell 1.41 % in local terms, but the euro's strength boosted dollar- denominated returns to a 1.81 % gain. The U.K. market suffered a similar fate as the continent in the third quarter. The Bank of En- gland surprised the market by Global Fixed-Income Returns for Quarter Ended September 30, 1999 SSB Non-u.s, Govt U.S. Dollar Local Currency SSB World Govt U.S. Dollar Local Currency Last Quarter 6.12 -0.32 4.53 -0.03 raising rates 25 basis points to 5.25%; strong growth and indications of inflation combined to pummel returns in September. For the quarter, U .K. bonds fell 1.68% locally, but gained 2.72% in dollar terms. Japan Despite very strong growth indicators, Japanese bonds performed very well, adding 1.90%. Unemployment fell during the quarter while the latest Tankan survey showed signs of optimism. Yields across the curve fell by roughly 20 basis points during the third quarter. The yen strength- ened from 120 to 106 during the quarter, pushing dollar returns to 15.84%. Year to date, Japanese governments have rewarded unhedged U.S. in- vestors with a 10.62% gain, by far the best of the developed bond mar- kets. Dollar Bloc News across the area was mixed. Canadian returns were essentially flat (+0.04%) for the quarter locally, but strength in the Canadian dollar bumped up US$ returns to 0. 77%. The Australian economy continues to hum along, but apparently without a visit from our menacing friend, in- flation. For U.S. investors, the strong bond market return of 1.50% lo- cally was washed out by a strong U.S. dollar ( +0.07% in US$). The New Zealand market was also flat during the quarter, but the NZ$ suffered badly-unhedged U.S. investors lost 2.41 %. Emerging Markets The J.P. Morgan Emerging Markets Bond Index (EMBI) added 1.21 % in the quarter. The big news was Ecuador's default on its Brady bonds. Though the Ecuadorian debt market was pounded (-36.98% ), thankfully very little contagion effect has surfaced so far. In fact, the strongest emerg- ing debt markets were found elsewhere in Latin America. Argentina led the Latin markets. gaining 6.45% due to a dearth of new supply leading up to the mid-October presidential elections. Meanwhile, despite strong oil prices, profit-taking in Russia pushed that market down by more than l6o/o, -CMR• Callan Associates Inc. 3 7 Ell CAPITAL MARKET REVIEW APPENDIXA I A PUBLICATION OF CALLAN ASSOCIATES INC. 1HIRD QUARTER 1999 -7 ! U.S. EQUITY Style Median and Index Returns* for Periods Ended September 30, 1999 Last Last3 Last Last3 Last5 Last 10 Quarter Quarters Year Years Years Years Large Cap Equity Large Cap-Broad Style -6.06 4.40 26.44 21.63 22.90 16.10 Large Cap-Growth Style -4.20 5.99 33.42 25.41 25.15 17.74 Large Cap-Value Style -9.51 0.59 17.10 17.11 19.25 14.69 Aggressive Growth Style 0.28 20.38 51.06 18.67 23.64 18.57 l Contrarian Style -11 .47 -0.35 14.59 15.17 17.18 13.54 Core Style -5.41 5.33 28.47 24.51 24.57 16.74 Yield Style -8.91 -0.63 13.82 17.24 18.81 14.21 CAI Broad Market Index -6.31 5.06 28.23 22.72 23.14 15.93 7 CAI Large Cap Index -5.13 6.37 31.30 28.55 27.98 17.92 S&P500 -6.24 5.36 27.81 25.09 25.03 16.82 NYSE -8.13 0.69 19.41 19.41 20.82 14.77 1 Mid Cap Equity \ ) Mid Cap-Broad Style -6.42 4.19 26.47 14.47 18.62 16.25 Mid Cap-Growth Style 0.60 13.20 44.59 15.88 20.37 16.82 ] Mid Cap-Value Style -8.83 0.32 14.90 13.62 15.40 13.78 CAI Medium Cap Index -11.51 -0.94 18.85 16.08 17.69 13.52 S&P MidCap 400 -8.40 -2.10 25.50 17.82 18.59 15.64 l Small Cap Equity Small Cap-Broad Style -4.24 1.76 18.36 10.55 14.71 14.13 Small Cap-Growth Style 0.30 10.24 35.82 9.29 17.46 16.78 Small Cap-Value Style -7.30 -I .JO 12.89 11.32 13.49 12.75 l CAI Small Cap Index -4.43 7.54 28.31 12.79 15.53 12.90 I CAI Micro Cap Index -3.06 8.05 23.86 9.35 15.00 12.07 J S&P 600 Small Cap Index -4.84 -0.05 17.54 9.40 13.76 11.23 Russell 2000 -6.32 2.38 19.08 8.70 12.39 10.93 NASDAQ 2.30 25.52 62.62 31.27 29.82 20.39 ) CAI Broad Market Sectors** Basic Materials -7.96 9.07 13.37 4.19 6.53 8.36 j Capital Goods -3.11 13.06 36.54 19.40 21.83 14.46 Communication Services -7.16 8.92 40.97 36.47 Consumer Cyclical -9.58 1.00 30.62 19.09 17.28 13.04 Consumer Staples -10.61 -10.80 9.22 14.39 19.66 15.72 Energy -0.33 18.59 18.13 16.19 18.31 12.42 Financials -15.22 -6.05 14.12 20.66 25.04 16.73 Health Care -9.34 -9.76 4.74 21.59 Utilities -3.80 -3.99 -1.16 12.99 14.72 10.76 J Technology 3.72 29.95 78.29 41.21 38.13 23.92 Transportation -16.41 -6.47 7.27 7.69 12.28 9.26 * Returns less than one year are not annualized. ** The economic sectors were reorganized to eliminate the Miscellaneous sector in performance measurements after June 30, 1996. As part of this reorganization. two new sectors. Communication Services and Health Care Services, were created. Consequently, sector comparisons of time periods beginning prior to June 30, 1996, with time periods beginning after that date may not be valid. J U.S. Equity Index Characteristics as of September 30, 1999 Callan Callan Callan Callan Callan S&P Broad Large Medium Small Micro 500 Cap Range ($MM) 2-462,218 I 0,281-462,218 1,639-26,968 2-30,373 8-1,971 248-462,218 j # Issues 2,000 150 350 1,500 1,000 500 % of Callan Broad 100% 66% 19% 15% NIA NIA \ Wtd Avg Mkt Cap $88.7B $130.lB $9.5B $2.9B $0.3B $106.2B Price/Book Ratio 843% 965% 560% 632% 351% 853% J PIE Ratio (forecasted) 27.4 29.8 20.7 24.5 19.9 27.9 Dividend Yield 1.2% 1.2% 1.6% 1.0% 0.8% 1.3% 1 5-Yr Earnings (forecasted) / 17.3% 17.1% 15.9% 19.8% 18.9% 16.2% _j 7 a CAPITAL MARKET REVIEW APPENDIXB A PUBLICATION OF CALLAN ASSOCIATES INC. THIRD QUARTER 1999 -7 I U.S. FIXED INCOME l Style Median and Index Returns* for Periods Ended September 30, 1999 -\ Last Last3 Last Last3 Last 5 Last 10 I Quarter Quarters Year Years Years Years Broad Fixed-Income Active Duration Style 0.60 -1.61 -1.73 6.79 7.84 8.21 Core Bond Style 0.66 -0.85 -0.54 6.88 7.94 8.30 LB Aggregate 0.68 -0.70 -0.37 6.82 7.84 8.10 LB Govt/Corp 0.54 -1.75 -1.62 6.75 7.77 8.08 LB Corp 0.28 -1.99 -1.40 6.68 8.27 8.54 LB Govt 0.66 -1.62 -1.70 6.82 7.65 7.95 SSB Broad Investment Grade 0.72 -0.68 -0.27 6.84 7.86 8.16 7 Long Term Extended Maturity Style -0.33 -5.99 -6.15 8.17 9.96 9.74 LB Gov/Corp Long -0.32 -6.25 -6.47 7.91 9.69 9.26 LB Gov Long -0.20 -6.80 -7.64 8.31 9.88 9.31 f LB Corp Long -0.51 -5.34 -4.47 6.96 9.21 9.06 SSB High Grade -0.47 -6.71 -5.91 6.79 8.79 8.82 1 Intermediate Term I Intermediate Style 0.94 0.50 0.82 6.50 7.16 7.79 LB Gov/Corp Intermediate 0.92 0.33 0.62 6.33 7.07 7.61 LB Gov Intermediate 1.01 0.54 0.79 6.33 6.92 7.47 LB Corp Intermediate 0.70 -0.11 0.30 6.45 7.68 8.19 Short Term Defensive Style 1.19 2.61 3.44 6.09 650 7.18 j Active Cash Style 1.29 3.64 4.91 5.74 5.94 6.II Money Markel Funds (net of fees) 1.15 3.36 4.57 4.91 5.04 4.92 ML Treasury 1-3 Year 1.26 2.45 3.23 6.01 6.38 6.82 90-day Treasury Bills 1.27 3.56 4.73 5.15 5.29 5.19 J High Yield CAI High Yield Style -0.98 1.90 5.83 7.85 10.35 11.56 l LB Corp High Yield -1.42 0.75 2.89 6.20 8.89 10.27 ML High Yield Master -1.25 0.49 3.37 6.89 9.48 10.51 CSFB High Yield -1.60 1.18 3.96 6.16 8.62 10.52 l Mortgage/ Asset-Backed CAI Mortgages Style 0.96 1.47 2.30 7.10 8.16 8.54 LB Mortgage-Backed Securities 0.93 1.47 2.28 6.93 8.00 8.16 LB Asset-Backed Securities 1.11 1.53 1.94 6.41 6.94 l __ ) Inflation Consumer Price Index (All Urban) 1.02 2.44 2.62 2.09 2.36 2.99 Producer Price Index 2.32 4.24 3.40 -0.05 1.13 1.31 } U.S. Fixed-Income Index Characteristics as of September 30, 1999 Yield Modified Adj. Average % of % of Lehman Brothers Indices To Worst Duration Maturity LBG/C LB Aggregate 1 I LB Aggregate 6.75 % 4.97 8.96 Yrs. 100.00 % 100.00 % J LB Govt/Corp 6.50 5.44 9.86 100.00 63.51 Intermediate 6.31 3.46 4.35 70.22 44.60 j Long Term 6.93 10.08 22.87 29.78 18.91 LB Govt 6.08 5.24 8.89 67.07 42.60 LB Corp 7.35 5.82 11.84 32.93 20.92 LB Mortgage 7.22 4.15 7.54 33.80 I LB Asset-Backed Securities 6.71 3.12 3.81 1.31 -1 LBCMBS 7.20 5.44 7.26 1.38 LB Corp High Yield 11.53 4.80 7.97 J * Returns less than one year are not annualized. .., I 7 7 7 ) j j -' _J J Investment Manager Returns The table below details the rates of return for the plan s investment managers over various time periods ended September 30 1999. Negative returns are shown in red, posjtive returns in black. Returns for one year or greater are annualized. Th e fir t et of return for each asset class repre ents the composite returns for all the fund 's account for that asset class. Returns for Periods Ended September 30, 1999 Last Last Last Last Last 2 3 4 Quarter Year Years Years Years Domestic Fixed Income 1.16% 2.46% 5.87% 6.44% 6.23% Long Term Operating Fund 1.15% 2.30% 5.89% 6.50% 6.27% Liquid Operating Monies 1.39% 5.11% 5.46% 5.47% 5.51% Liquid Operating Monies ( 1) 1.35% 4.95% 5.29% 5.31% 5.35% Market Indicators LB l-5yr Govt/Corp 0.90% 2.47% 5.12% 5.95% 5.84% ML l-3yr Govt/Corp 1.22% 3.39% 5.62% 6.07% 5.97% ML l-5yr Govt/Corp 1.12% 2.33% 5.64% 6.24% 6.05% ML l-5yr G/C excl. BBBs 1.14% 2.26% 5.62% 6.21% 6.02% Treasury Bills 1.27% 4.73 % 5.09% 5.15% 5.19% Total Fund 1.16% 2.46% 5.87% 6.44% 6.23% (I) Net of Fees. Orange County Sanitation District • 13