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Home My WebLink About2000-05-10Draft MJNUTES OF FINANCE. ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, May 10, 2000, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on April 12, 2000 at 5:00 p.m., in the District's Administrative Office. (1) The roll was called and a quorum declared present, as follows: (2) FAHR COMMITTEE MEMBERS: Directors Present: Thomas R. Saltarelli, Chair Mark Leyes, Vice Chair Shawn Boyd John M. Gullixson James W. Silva Mark A Murphy Jan Debay, Board Chair OTHERS PRESENT: Tom Woodruff, General Counsel Don Hughes Toby Weissert Jeff Bower David Webb John Weingarden Bob Geggie APPOINTMENT OF CHAIR PRO TEM No appointment was necessary (3) PUBLIC COMMENTS There were no public comments. Directors Absent: Peer Swan, Board Vice Chair Shirley McCracken STAFF PRESENT: Blake Anderson, General Manager Lisa Tomko, Director of Human Resources Bob Ooten, Director of Operations & Maintenance Gary Streed, Director of Finance Michelle Tuchman, Director of Communications Patrick Miles, Director of Information Technology Dawn McKinley, Sr. Human Resources Analyst Steve Kozak, Financial Manager Mike White, Controller Jean Tappan, Asst. Committee Secretary FILED IN TliE OFFICE OF THE SECRETARY ORANGE C.OUNT'Y ~MN!TATION OISTRJCT MAY 2 4 2000 IK_ (4) RECEIVE, FILE AND APPROVE MINUTES OF PREVIOUS MEETING It was moved, seconded and duly carried to approve the minutes of the April 12, 2000 Finance, Administration and Human Resources Committee meeting. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 2 May 10, 2000 (5) REPORT OF THE COMMITTEE CHAIR The Committee Chair indicated a need to add one item as Agenda Item No. 17(a}(1) needing immediate action that arose subsequent to the publication of the agenda to meet with the District's negotiators to discuss labor negotiations with Local 501 and the SPMT Units. He reported that an additional item could be added pursuant to California Government Code Section 54954.2(b)(2) upon a two-thirds vote of the Committee. It was moved, seconded and carried to find that the matter arose subsequent to the posting of the agenda pursuant to authority of California Government Code Section 54954.2(b)(2) and based on that to add the item to the agenda as Item No. 17(a)(1). The next FAHR Committee meeting will be June 14, 2000. (6) REPORT OF THE GENERAL MANAGER General Manager Blake Anderson reported on a request from the City of Huntington Beach, through the Cooperative Projects Program, to use federal funds for its 50% portion. The Steering Committee discussed this item at its April meeting. At that time the recommendation was to require an agency seeking District funds to provide local funds equal to the District's match, and if grant monies are used, any auditing costs would be borne by the agency. The Huntington Beach representative discussed the reasons for the request with the Cooperative Projects Committee members, and after considerable discussion, the Committee agreed to recommend changes in the agreements to allow the use of federal funds. There was a motion made, seconded and carried to support the recommendation of the Cooperative Projects Committee. The recommendations will be forwarded to the Steering Committee in May and the OTMS Committee and Board at their June meetings. Mr. Anderson reported on a spill that occurred in Costa Mesa at the College Avenue Pump Station, an aging facility that has been scheduled for rehabilitation in the next few years. The spill ended up in the Santa Ana River. The Orange County Health Care Agency then closed the beach. As a result of this spill, the status of the station will be evaluated immediately to see if the rehabilitation should be · moved forward. Mr. Anderson also reported that escrow will close on Monday, May 15 for the purchase of property in Kings County for biosolids application. He met with two of the Kings County supervisors to introduce himself. Based on that discussion, staff will be making a concentrated effort to ensure that all regulations and standards for operating a composting facility are met. Additional site improvements will be made to improve the aesthetics of the property. Mr. Anderson also reported on the Little Hoover Commission report on Special Districts, which was released last week. The report contains five findings that special districts are not accountable to their communities, reserves are excessive, not well planned or justified, and property tax allocations need to be adjusted. Staff is preparing a white paper that will discuss the findings and the impacts on the District. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 May 10, 2000 (7) REPORT OF DIRECTOR OF FINANCE Director of Finance Gary Streed reported that the District has again received an award for its Comprehensive Annual Financial Report and that Julie Matsamoto also received an award for leading this effort. As reported at last month's FAHR Committee meeting, the District's short-term portfolio holds two Fl NOVA Capital notes ($475,000) which were downgraded to 888+ on the last day of the month. Both securities met the District's credit quality requirements when PIMCO purchased them in October 1999, and January 2000. However, the current downgraded securities are technically non-compliant with respect to credit quality. Staff has monitored and evaluated PIMCO's position in these securities with both PIMCO and Callan Associates, the District's investment advisor. Both firms recommend that the FINOVA securities continue to be held and monitored, as the notes are due to mature in October (less than six months), and the District would receive full payment of principal at maturity. The Committee members agreed with staff's recommendation. (8) REPORT OF DIRECTOR OF HUMAN RESOURCES Lisa Tomko, Acting Director of Human Resources, reported that the first negotiating meeting with the SPMT group is scheduled for Thursday, May 11 , 2000. Additional details will be discussed in closed session. (10) REPORT OF DIRECTOR OF COMMUNICATIONS Michelle Tuchman, Director of Communications, reported that both Orange County and the City of Huntington Beach have scheduled meetings to discuss the development of a media action plan that will address beach closures for the summer. Blake Anderson announced that Ms. Tuchman has submitted, and he has accepted with regret, her resignation as Director of Communications. She will be leaving the District at the end of the month to join Nelson Communications. (10) REPORT OF GENERAL COUNSEL General Counsel Tom Woodruff had no report. (11) CONSENT CALENDAR ITEMS (Items a-g) a. FAHR00-32: Receive and file Treasurer's Report for the month of April 2000. b. FAHR00-33: Receive and file Certificate of Participation (COP) Monthly Report. c. FAHR00-34: Receive and file Employment Status Report as of May 1, 2000. Minutes of the Finance, Administration and Human Resources Committee Meeting Page4 May 10, 2000 d. FAHR00-35: Receive and file report of General Manager approved purchases in amounts exceeding $50,000 in accordance with Board purchasing policies. e. FAHR00-36: Recommend that the Board of Directors receive and file Quarterly Investment Management Program Report for the period January 1, 2000 through March 31 , 2000. f. FAHR00-37: Recommend that the Board of Directors receive and file the Third Quarter Financial and Operational Report for the period ending March 31, 2000. g. FAHR00-38: Recommend that the Board of Directors adopt Resolution Motion: No. OCSD 00-_, Amending Resolution No. OCSD 98-33, Amending Human Resources and Policies Procedures Manual. END OF CONSENT CALENDAR Moved, seconded and duly carried to approve the recommended actions for items specified as 11 (a) through (g) under Consent Calendar. (12) ACTION ITEMS (tiems a-g) a. FAHR00-39: Adopt Resolution No. OCSD 00-_, Amending Resolution No. OCSD 98-33, Amending Human Resources and Policies Procedures Manual, providing for: (1) Create Accounting Supervisor classification at pay range E11 ($60,828-$86,064); (2) Create Human Resources Supervisor classification at pay range E11 ($60,828-$86-064); (3) Create Lead Pump Power Operator at pay range 2015 ($47,285-$58,883); and, (4) Change the title of Senior Plant Operator to Lead Plant Operator. Motion: It was moved, seconded and duly carried to recommend approval to the Board of Directors. Director Gullixson opposed. b. F AHR00-40: Direct staff to work with member agencies to evaluate the potential to collect Capital Facilities Capacjty Charges (CFCC) for high- demand users in two phases: when building permits are issued, and when tenant improvement permits are issued. Motion: It was moved, seconded and duly carried to approve. c. FAHR00-41 : Adopt a policy of maintaining the adopted Capital Facilities Capacity Charge rate and structure until the Strategic Plan Capital Improvement Program is modified. Motion: It was moved, seconded and duly carried to recommend approval to the Board of Directors. Minutes of the Finance, Administration and Human Resources Committee Meeting Pages May 10, 2000 d. FAHR00-42: (1) Implement Sewer Service Charge rates for 2000-01 equal to those previously adopted for Revenue Area 3. These rates will be based upon the single-family residential rate of $78 per year and the percentages adopted in Ordinance No. OCSD-05. Previously adopted higher rates in other Revenue Areas may be implemented as needed in the future; and, (2) Implement previously adopted Sewer Service Charge rates In Revenue Area 7. The base single-family residential rate will be $73 per year. Motion: It was moved, seconded and duly carried to recommend approval to the Board of Directors. Directors Gullixson and Leyes opposed. e. FAHR00-43: Adopt Ordinance No. OCSD-_, Amending Table C of Ordinance No. OCSD-06, Relating to Source Control Permit User Fees, setting the rates for 2000-01 . Motion: It was moved, seconded and duly carried to recommend approval to the Board of Directors. Director Gullixson voted no. f. FAHR00-44: Adopt Ordinance No. OCSD-_,Amending Table B of Ordinance No. OCSD-05, Continuing and Establishing Sanitary Sewer Service Charge-s. Motion: It was moved, seconded and duly carried to recommend approval to the Board of Directors. g. FAHR00-45: Approve an increase to the Temporary Employment Services total contracts by $200,000, from $1,000,000 to $1,200,000 for remainder of Fiscal Year 99-00, and approve funding in the amount of $2,402,000 for Fiscal Year 00-01 . Motion: It was moved, seconded and duly carried to recommend approval to the Board of Directors. (13) INFORMATION PRESENTATIONS a. FAHR00-46: 2000-01 Budget Status Controller Mike White presented the proposed 2000-01 Joint Operating Budget and explained the changes. David Ludwin presented the proposed Capital Improvement Program budget for the coming year. The final documents will be presented to the F AHR Committee at its June meeting and submitted to the Board for approval at its June 28 regular meeting. b. FAHR00-47: Update on COP Restructuring Financial Manager Steve Kozak updated the members on the status and Minutes of the Finance, Admlnfstration and Human Resources Committee Meeting Page6 May 10, 2000 development of the approved two-phase financing plan to restructure and modernize the District's existing COP long-term debt. He also reported that all three municipal bond rating agencies, Moody's, S&P and Fitch, awarded "Aa" category credit ratings to the District. This allows the District to move forward with final structuring and issuance of the Series 2000 COPs, and with substitution of modernized bond documents for the 1992 and 1993 COPs. Mr. Kozak also reported that Director Swan had contacted staff and requested that his support for issuing the Series 2000 Refunding COPs as variable rate debt, and including the issuance of an additional $150 million reimbursement financing piece with the Series 2000 Refunding COPs. Director Boyd expressed concern about the competitive bidding process for underwriters. Staff will review its practices and consider bidding all issues. Motion: It was moved, seconded and duly carried to receive and file the report; to recommend a financing of the $150 million reimbursement but as an issue separate from the current refunding issue. (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY There were none. (15) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT There were none (16) CONSIDERATION OF UPCOMING MEETINGS. The next FAHR Committee meeting is scheduled for June 14, 2000 at 5 p.m. (17) CLOSED SESSION The Chair reported that the Committee would meet in Closed Session, as authorized by Government Code Section 54957.6, to discuss and consider labor negotiations with Local 501 and SPMT Units. The Committee convened in closed session at 7:40 p.m. Confidential Minutes of the Closed Session held by the Finance, Administration and Human Resources Committee have been prepared in accordance with California Government Code Section 54957.2, and are maintained by the Board Secretary in the Official Book of Confidential Minutes of Board and Committee Closed Meetings. No reportable actions were taken re Agenda Item No. 17(a)(1). At 8:30 p.m., the Committee reconvened in regular session. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 7 May 10, 2000 (19) ADJOURNMENT The Chair declared the meeting adjourned at approximately 8:30 p.m. Submitted by: appan Committee Assistant Secretary STATE OF CALIFORNIA) ) SS. COUNTY OF ORANGE ) Pursuant to California Government Code Section 54954.2, I hereby certify that the Notice and the Agenda for the Finance, Administration, and Human Resources Committee meeting to be held on May 10, 2000, was duly posted for public inspection in the main lobby of the District's offices on May 3, 2000. 2000. IN WITNESS WHEREOF, I have hereunto set my hand this 3rd day of May, Penny M. ~le , Secr~ry Board of Directors • , Orange County Sanitation District H:\WP .OT A \ADMIN\BS\FORMS\AGENDA CERTIFICATION·FAHR COMMITTEE.DOC May3, 2000 DISTRIBUTION FAHR COMMITTEE MEETING PACKAGE Full Agenda Package Committee & Mailing List Blake P. Anderson• Dan Dillon Marc Dubois Steve Kozak Penny Kyle David Ludwin Greg Mathews Patrick Miles• Bob Ooten Lisa Tomko• Gary Streed Michelle Tuchman• Robert Ghirelli Mike White• Cagle, Brad Bob Geggle Jeff Esber Patricia Jonk Lenora Crane Extras Notices and Agenda Only 40 13 1 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 5 (for meeting hand-out, if necessary) 7 Posting 1 Jean Tappan 1 Gail Cain 1 Rose Marsella 1 Frankie Woodside 1 Patricia Magnante 1 Janet Gray 1 Security 1 Ron Zenk, Dist. 14 Treasurer's Report Only c \\RAOON\DATA1\WP.DTA\ADMIN\BS\FAHR\DISTRIBUTIONLISTFAHR.DOC phone: (7141 962-2411 mailing address: P.Q Box 8127 Fountain Valley, CA 92728-8127 street address: 10844 Ellis Avenue Fountain Valley, CA 92708-7018 Member Agencies Cities Anaheim Brea Buena Park Cypress Fountain Valley Fullerton Garden Grove Huntington Beech Irvine La Habra La Pe/me Los Alamitos Newport Beech Orange Placentia Senta Ans Saal Beach Stanton Tustin Ville Perk Yorba Linda County of Orange Sanit ary Districts Costa Mesa Midway City Water Districts Irvine Rench ORAN GE COUNTY SANITATI ON DISTRI CT May 3, 2000 NOTICE OF MEETING FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, MAY 10, 2000 -5:00 P.M. DISTRICT'S ADMINISTRATIVE OFFICES 10844 ELLIS AVENUE FOUNTAIN VALLEY, CALIFORNIA 92708 A regular meeting of the Finance, Administration and Human Resources Committee of the Board of Directors of the Orange County Sanitation District, will be held at the above location, date and time. "To Protect the Public Health and the Environment through Excellence in Wastewater Systems" FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING DA TES FAHR Committee Meeting Dates May 10, 2000 June 14, 2000 July 12, 2000 No Meeting Scheduled September 13, 2000 October 11 , 2000 November 8, 2000 December13,2000 No Meeting Scheduled February 14, 2001 March 14, 2001 April 11 , 2001 May 9, 2001 Board Meeting Dates May 24, 2000 June 28, 2000 July 19, 2000 August23,2000 September 27, 2000 October 25, 2000 November 15, 2000 December 20, 2000 January 241 2001 February 28, 2001 March 28, 2001 April 25, 2001 May 23, 2001 ROLL CALL FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE Meeting Date: May 10. 2000 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) ................................................. .. OTHERS TOM WOODRUFF, General Counsel ................ ,. ...... , .................... .. TOBY WEISSERT, Carollo Engineers ............................................. __ STAFF BLAKE ANDERSON, 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 AGENDA REGULAR MEETING OF THE FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, MAY 10, 2000, AT 5:00 P.M. ADMINISTRATIVE OFFICE 10844 Ellis Avenue Fountain Valley, California 92708 In accordance with the requirements of California Government Code Section 54954.2, this agenda has been posted in the main lobby of the District's Administrative Offices not less than 72 hours prior to the meeting date and time above. All written materials relating to each agenda item are available for public inspection in the Office of the Board Secretary. In the event any matter not listed on this agenda is proposed to be submitted to the Committee for discussion and/or action, it will be done in compliance with Section 54954.2(b) as an emergency item or that there is a need to take immediate action which need came to the attention of the Committee subsequent to the posting of the agenda, or as set forth on a supplemental agenda posted in the manner as above, not less than 72 hours prior to the meeting date. (1) ROLL CALL (2) APPOINTMENT OF CHAIR PRO TEM. IF NECESSARY (3) PUBLIC COMMENTS All persons wishing to address the Finance, Administration and Human Resources Committee on specific agenda items or matters of general interest should do so at this time. As determined by the Chair, speakers may be deferred until the specific item is taken for discussion and remarks may be limited to five minutes. Matters of interest addressed by a member of the public and not listed on this agenda cannot have action taken by the Committee except as authorized by Section 54954.2(b). May 10, 2000 (4) APPROVE MINUTES OF PREVIOUS MEETING Approve minutes of the April 12, 2000, Finance, Administration and Human Resources Committee meeting. (5) REPORT OF COMMITTEE CHAIR (6) REPORT OF GENERAL MANAGER (7) REPORT OF DIRECTOR OF FINANCE (8) REPORT OF DIRECTOR OF HUMAN RESOURCES (9) REPORT OF DIRECTOR OF COMMUNICATIONS (10) REPORT OF GENERAL COUNSEL (11) CONSENT CALENDAR ITEMS Consideration of motion to approve all agenda items appearing on the Consent Calendar not specifically removed from same, as follows: t. All matters placed on the consent caleridar are considerea-·as n"otreq.uiring discussic:»n or.further expla.naiiOrl~! ,unless any particular item is requested to be removed from the consent calendar by a Director, staff member or J !member of the public in attendance, there will be no separate discussion of these items. All items on the consent I tcalendar will be enacted by one action approving all motions, and casting a unanimous ballot for resolutions ! !included on the consent calendar. All items·removed from the consent calendar shall be considered in the regular I jorder of business. I t Members of the public who wish to remove an item from the consent calendar shall, upon recognition by the chair, I state their name, address and designate by number the item to be removed from the consent calendar. I The Chair will determine if any items are to be deleted from the consent calendar. ! a. FAHR00-32: Receive and file Treasurer's Report for the month of April 2000. The Treasurer's Report will be distributed at the FAHR Committee meeting in accordance with the Boardeapproved Investment Policy, and in conformance to the Government Code requirement to have monthly reports reviewed within 30 days of month end. 2 b. FAHR00-33: c. EAHR00-34: d. FAHR00-35: e. FAHR00-36: f. FAHR00-37: g. FAHR00-38: May 10, 2000 Receive and file Certificate of Participation (COP) Monthly Report. Receive and file Employment Status Report as of May 1, 2000. Receive and file report of General Manager approved purchases in amounts exceeding $50,000 in accordance with Board purchasing policies. Receive and file Quarterly Investment Management Program Report for the period January 1, 2000 through March 31, 2000. Receive and file the Third Quarter Financial and Operational Report for the period ending March 31, 2000. Adopt Resolution No. OCSD 00-_, Amending Resolution No. OCSD 98-33, Amending Human Resources and Policies Procedures Manual. END OE CONSENT CALENDAR Consideration of items deleted from Consent Calendar, if any. (12) ACTION ITEMS a. FAHR00-39: b. FAHR00-40: c. EAHR00-41 : Adopt Resolution No. OCSD 00-_, Amending Resolution No. OCSD 98-33, Amending Human Resources and Policies Procedures Manual, providing for: (1) Create Accounting Supervisor classification at pay range E11 ($60,828-$86,064); (2) Create Human Resources Supervisor classification at pay range E11 ($60,828-$86- 064); (3) Create Lead Pump Power Operator at pay range 2015 ($47,285-$58,883); and, (4) Change the title of Senior Plant Operator to Lead Plant Operator. (Dawn McKinley -5 minutes) Direct staff to work with member agencies to evaluate the potential to collect Capital Facilities Capacity Charges (CFCC) for high-demand users in two phases: when building permits are issued, and when tenant improvement permits are issued. (Gary Streed -10 minutes) Adopt a policy of maintaining the adopted Capital Facilities Capacity Charge rate and structure until the Strategic Plan Capital Improvement Program is modified. (Gary Streed -10 minutes) 3 d. FAHR00-42: e. FAHR00-43: f. FAHR00-44: g. FAHR00-45: May 10, 2000 (1) Implement Sewer Service User Fee rates for 2000-01 equal to those previously adopted for Revenue Area 3. These rates will be based upon the single-family residential rate of $78 per year and the percentages adopted in Ordinance No. OCSD-05. Previously adopted higher rates in other Revenue Areas may be implemented as needed in the Mure; and, (2) Implement previously adopted Sewer Service User Fee rates in Revenue Area 7. The base single-family residential rate will be $73 per year. (Gary Streed -15 minutes) Adopt Ordinance No. OCSD-_, Amending Table B of Ordinance No. OCSD-06, Relating to Source Control Permit User Fees, setting the rates for 2000-01. (Gary Streed -10 minutes) Adopt Ordinance No. OCSD-_, Amending Table B of Ordinance No. OCSD-05, Continuing and Establishing Sanitary Sewer Service Charges. (Gary Streed -10 minutes) Approve an increase to the Temporary Employment Services total contracts by $200,000, from $1,000,000 to $1,200,000 for remainder of Fiscal Year 99-00, and approve funding in the amount of $2,402,000 for Fiscal Year 00-01. (Lisa Tomko-5 minutes) (13) INFORMATIONAL PRESENTATIONS a. FAHR00-46: b. FAHR00-47: 2000-01 Budget Status (Gary Streed -15 minutes) Update on COP Restructuring (Steve Kozak -5 minutes) (14) OTHER BUSINESS. COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS. IF ANY (15) MA TIERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT (16) FUTURE MEETING DATES The next Finance, Administration and Human Resources Committee Meeting is scheduled for June 14, 2000, at 5 p.m. 4 May 10, 2000 (17) CLOSED SESSION ~uring the course of conducting the business set forth on this agenda as a regular meeting of the Committee, the I tChair 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, I 54957 or 54957.6, as noted. I [ Reports relating to (a) purchase and sale of real property; (b) matters of pending or potential litigation: (c) I employee actions or negotiations with employee representatives: or which are exempt from public disclosure under 1 the California Public Records Act, may be reviewed by the Committee during a permitted closed session and are 1 !not available for public inspection. At such time as final actions are taken by the Committee on any of these I lsubj_!:~ts, the minutes will refl~.91 all requ!red disclosure~_o_f_in_f_or_m_a_t_io_n_. -------·----------'· A. Convene in closed session. B. Reconvene in regular session. C. Consideration of action, if any, on matters considered in closed session. (18) ADJOURNMENT I Notice To Committee Members: !For any questions on the agenda or to place any items on the agenda, Committee members should contact the Committee jChair or Secretary ten days in advance of the Committee meeting. !Committee Chair: Thomas Saltarelli (949) 833-9200 Committee Secretary: Penny Kyle (714) 593-7130 I ··~~~~~~~~~~~~~--~~~ 5 MINUTES OF FINANCE. ADMINISTRA !ION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, April 12, 2000, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on April 12, 2000 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 R. Saltarelli, Chair Mark Leyes, Vice Chair Shawn Boyd John M. Gullixson Shirley McCracken James W. Silva OTHERS PRESENT: Tom Woodruff, General Counsel Don Hughes Toby Weissert Ryal Wheeler (2) APPOINTMENT OF CHAIR PRO TEM No appointment was necessary (3) PUBLIC COMMENTS Directors Absent: Mark A Murphy Jan Debay, Board Chair Peer Swan, Board Vice Chair STAFF PRESENT: Don Mcintyre, General Manager Blake Anderson, Assistant General Manager Lisa Tomko, Acting Director of Human Resources Bob Ooten, Director of Operations & Maintenance Gary Streed, Director of Finance Steve Kozak, Financial Manager Mike White, Controller Jim Herberg, Engineering Supervisor Jim Burror, Project Manager Penny Kyle, Committee Secretary Ryal Wheeler, a District employee, voiced concern with the District's mediator, ADR, and possible conflicts with grievance procedures contained within the memorandum of understandings. He was also concerned with solicitations by ADR to District employees for mediation services. He requested that the FAHR Committee provide oversight on the contract with ADR. Lisa Tomko, Acting Director of Human Resources, stated that staff has taken steps to make sure that ADR does not initiate or solicit mediation with employees. Minutes of the Finance, Administration and Human Resources Committee Meeting Page2 April12,2000 (4) RECEIVE, FILE AND APPROVE MINUTES OF PREVIOUS MEETING It was moved, seconded and duly carried to approve the minutes of the March 8, 2000 Finance, Administration and Human Resources Committee meeting. Director John Gullixson abstained. (5) REPORT OF THE COMMITTEE CHAIR The Committee Chair had no report. (6) REPORT OF THE GENERAL MANAGER The General Manager reported on SB 1956, sponsored by Senator Polanco. This bill would prohibit local government from enacting or enforcing an ordinance that is more restrictive than either the Federal 503 regulations or any state requirements that may emerge that regulates biosolids unless local government can show there is a public health or environmental need. Staff will be requesting the Board at the April 261h meeting to consider adopting a resolution in support of SB1956. Mr. Mcintyre then stated that several bills are being developed for urban runoff and watershed management. Staff will keep the Directors apprised as these bills develop. (7) REPORT OF ASSISTANT GENERAL MANAGER Blake Anderson, Assistant General Manager, reported that escrow should close the end of April for the purchase of property in Kings County for biosolids application. A multiple-year composting contract is currently moving through the conditional use permit process in Kem County. Mr. Anderson also reported the Little Hoover Commission, comprised of 13 members appointed by the Governor, Assembly and Senate, was preparing a report on all special districts within California. Hearings are scheduled to be held on June 14 and August 26. The report is expected to contain findings that special districts are not accountable to their communities, reserves are excessive, not well planned or justified, and property tax allocations need to be adjusted. Blake stated that he spoke at length to the Commission recently regarding the District's strategic future planning. (8) REPORT OF DIRECTOR OF FINANCE Gary Streed reported that the District's short-term portfolio had a technical non-compliance of about $4751000. A fund was downgraded from A-to BBB+ on the last day of the month, thus PIMCO had no opportunity to get out of that fund before the report was published. PIMCO has an analyst at Finova Capital going over the books. It was special accounting charges and expenses that put the fund in this situation. Staff is satisfied that PIMCO is taking the appropriate steps. Technically, however, this is a violation of the District's investment policy. It was further reported that the Operations and Maintenance budget is in draft form and will be discussed next month. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 April 12,2000 Mr. Streed further reported that a letter had been received from the mayor of Garden Grove, addressed to the District's Chair, urging the Directors not to vote for the consolidation of the user fees. The consolidation of rates issue will be placed on the agenda for the April 261h regular board meeting. (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 reported that the Orange County Register has a mobile newsroom that travels around the county. Jeff Kramer, a humor columnist, will be staffing the newsroom and has requested a visit to the District. Ms. Tuchman then reported on the formation of a Community Advisory Committee on Odor Control. Letters of invitation to be a member of the committee were sent to numerous residents and businesses in the four cities most impacted by odors generated by the plants: Huntington Beach; Fountain Valley; Costa Mesa; and Newport Beach. The first meeting was held on April 11th. Two. residents attended from the Southeast Huntington Beach Neighbomood Association and the West Newport Beach Association. Because the response to the formation of the Committee was limited, a contingency plan has been developed to reach more of the impacted residents, such as an open house and specialty meetings with those associations. (11) REPORT OF GENERAL COUNSEL General Counsel had no report. (12) CONSENT CALENDAR ITEMS (Items a-c) a. FAHR00-26: Receive and file Treasurer's Report for the month of March 2000. The Treasurers 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. FAHR00-27: Receive and file Certificate of Participation (COP) Monthly Report. c. FAHR00-28: Receive and file Employment Status Report as of March 21, 2000. Motion: ENO OF CONSENT CALENDAR Moved, seconded and duly carried to approve the recommended actions for items specified as 12(a) through (c) under Consent Calendar. Minutes of the Finance, Administration and Human Resources Committee Meeting Page4 April 12,2000 (13) ACTION ITEMS (Items a-b) a. FAHR00-29: Adopt Resolution No. OCSD 00-_, Authorizing Formation of the Orange County Sanitation District Financing Corporation and Authorizjng Certain Related Actions. Steve Kozak gave a progress report on the restructure of the District's certificates of participation and a brief overview of the formation of the District's financing corporation. Directors then entered into discussion regarding possible conflict of interest and the bylaws of the District and the financing corporation. Motion: Moved, seconded and duly carried to approve staff's recommendation. b. F AHR00-30: Adopt Resolution No. OCSD 00-_, Amending Resolution No. OCSD 98-33 Updating Human Resources Policies and Procedures. Lisa Tomko gave a brief overview of the policy sections being updated, and minor clarifications in addition to what was included in the Directors' package. Motion: Moved, seconded and duly carried to approve staff's recommendation. (14) INFORMATION PRESENTATIONS a. FAHR00-31: Cooperative Projects Program, Job No. J-73 Jim Herberg gave an update on the District's cooperative projects program. (15) OTHER BUSINESS, COMMUNICATlONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY There were none. (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 May 10, 2000 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 item that is specified as Item 18(A)(1) on the published Agenda. The Committee convened in closed session at 6:36 p.m. Minutes of the Finance, Administration and Human Resources Committee Meeting Pages April 12,2000 Confidential Minutes of the Closed Session held by the Finance, Administration and Human Resources Committee have been prepared in accordance with California Government Code Section 54957.2, and are maintained by the Board Secretary in the Official Book of Confidential Minutes of Board and Committee Closed Meetings. No reportable actions were taken re Agenda Item No. 18(a}(1}. At 7:10 p.m., the Committee reconvened in regular session. (19) ADJOURNMENT The Chair declared the meeting adjourned at approximately 7:10 p.m. Submitted by: \\radon\data1\wp.dta\a.genda\FAHRIFAHR2000\2000 Minutes\041200 FAHR MIN.doc ' FAHR COMMITTEE Meeting Date To Bd. of Dir. 05/10/00 N/A AGENDA REPORT Item Number Item Number FAHR0°'"33 Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager SUBJECT: CERTIFICATES OF PARTICIPATION (COP) MONTHLY REPORT - APRIL2000 GENERAL MANAGER'S RECOMMENDATION Receive and file Certificates of Participation (COP) Monthly Report for the month of April 2000. SUMMARY Since June 1995, the daily rate COP program remarketing agents have been PaineWebber for the Series "A" and the 1993 Refunding COPs, and J.P. Morgan for the Series "C" COPs. Most fixed rate Series "B" 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. l:8J Not applicable (information item) ADDITIONAL INFORMATION For the month of April 2000, graphical and tabular reports are attached. The first graph entitled, "OCSD COP Rate History Report," shows the variable interest rates on each of the daily rate COPs since the last report, and the effective fixed rate for the two refunding issues which are covered by an interest rate exchange agreement commonly called a "swap". H:lwp.dtalagenda\FAHR\FAHR2000\2000 Agenda Reports\FAHR00-33.doc RIMM<I: 8/20/98 Page 1 The second bar chart entitled, "Comparative Daily COP Rate History Report," shows the performance of the District's Daily Rate COPs as compared to a compos.it~ 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 Districfs Daily Rate COPs with the highest and lowest monthly average rates from among six similar variable rate daily reset COPs. The table entitled, "COP Rate History, Comparison of Monthly Averages," shows the monthly variable interest rate performance of the District's Daily Rate COPs as compared to the composite index. Estimated annual interest payments calculated for a standard $100 million par amount, are also shown. Variable rates historically rise at the end of each calendar quarter, and especially at year-end, because of business taxes and liquidity requirements. The rates tend to 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 may occur. ALTERNATIVES None. CEQA FINDINGS None. ATI'ACHMENTS 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.dta\a91111da\FAHRIFAH~ Agenda Reports1FAHR~33.doc Revised; 8l20lll8 Page2 G) "'D f 0 iil "ti )> QI (') !. !!. -t RATE(%) ~ m ~ QI --:!I 0 ..... N ~ ~ °' 0) .,, ~ i F:5 b b b 0 b b b "' ~ ~ 0 0 0 0 0 0 0 -~ tZ 05-May-99 g <O ~ <fi 19-May-99 * 5" DI ~ (') '-02-Jun-99 IO ;:u ~ )> -I )> m 16-Jun-99 3:: ::c (jj -I ~ I 30-Jun-99 1 I I I 'I' I ""' I I 0 14-Jul-99 + I ~ I I * I • I I 0 28-Jul-99 + I I Ji I I * I • I I "' c 11-Aug-99 t I I ~I I * I • I I 0 25-Aug-99 f I I ~ I * I ' I I 0 -a 08-Sep-99 c +f )> 22-Sep-99 -> r )>-O -Q> 06-0ct-99 \J -< G>-· ~ (/)Cl> ~~ ~~ 20-0ct-99 Q) Cl> 'OCT .r -l CT Cl> 03-Nov-99 """ Nm 17-Nov-99 + I I le<l. I * I • 1 10::I: 0 - 01-0ec-99 0 "' ++ -I 15-0ec-99 0 w-~ o -o o. 29-0ec-99 G>~ <l>o ~ ... ;a cng 12-Jan-OO ~~ m 26-Jan-OO -a 09-Feb-OO + I ")> I I I * I • I I 0 :;o 23-Feb-OO ' I -......'-J_ I I _L I .J... I • -I 08-Mar-OO 22-Mar-OO 05-Apr-OO 19-Apr-OO Prepared by Finance, 05/01 /2000, 1 :07 PM COMPARATIVE DAILY COP RATE HISTORY REPORT APRIL, 2000 4.00 -~ w 3.00 ... c:( 0::: 2.00 1.00 0.00 DATE O> O> O> O> 0) O> O> O> 0 0 0 en en O> en en en en en 0 0 0 > c :; ci 0: .... > c.i c .0 ...: ro :l :l C1I (,) 0 C1I ro C1I ro ~ .., ..., <( (/) 0 z 0 ..., u. ~ mocso C COMPOSITE INDEX G:\excel.dte\fin\2220\geggi\Finence\deilycopintrete.xls 0 0 ... -c. <( -~ 0 -w .... ~ 3.70 3.60 3.50 3.40 3.30 3.20 3.10 3.00 2.90 2.80 2.70 2.60 2.50 2.40 2.30 2.20 2.10 2.00 .!:i!§!:i LOW l!! Highest rate G:\excel.dta\fin\2220'Qeggl\Flnance\RA TEHIST _HILO _bargraph COP RATE HISTORY COMPARISON OF HIGHEST & LOWEST RA TES OOCSD/J.P. Morgan • OCSD/PaineWebber ra Lowest rate Prepared by Finance, 05/0112000, 2:48 PM Prepared by Finance, 05/01/2000, 2:34 PM May-99 Jun-99 Jul-99 Aug-99 Sep-99 Oct-99 Nov-99 Dec-99 Jan-00 Feb-00 Mar-00 Apr-00 AVERAGE DAILY COP RA TE HISTORY COMPARISON OF MONTHLY AVERAGES MAY, 1999-APRIL, 2000 OCSD $100M $98.SM $46M Series"A" Series"C" Series 93 Ref Paine Webber J.P. Morgan PalneWebber 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 2.93 3.01 2.93 2.51 2.53 2.51 1.95 1.97 1.95 3.20 3.18 3.20 3.46 3.44 3.46 2.93% I 2.93% I 2.93% ESTIMATED ANNUAL INTEREST PAYMENTS PER $100M PAR AMOUNT $ 2,932,500 $ 2,930,833 $ 2,932,500 •FOOTNOTE Composite index consists of the following COP transactions: • IRWD, Serles 86, $60M, Smith Barney • IRWD, Serles 93 "A" Refunding, $87.SM, Bankers Trust • IRWD, Serles 93 "8" Refunding, $41 .8M, J.P. Morgan • IRWD, Series 95 Refunding, $117.8M, PaineWebber Composite Index* 3.34 3.28 2.36 2.83 2.98 3.03 3.38 2.97 2.50 1.99 3.22 3.49 2..95% $ 2,947,500 • 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 l I FAHR COMMITTEE Meeting Date 05/10/00 AGENDA REPORT Item Number FAHR00-34 Orange County Sanitation District FROM: Lisa Tomko, Acting Director of Human Resources Originator: John Weingarden, Human Resources Analyst SUBJECT: EMPLOYMENT STATUS REPORT AS OF MAY 01, 2000. GENERAL MANAGER'S RECOMMENDATION Receive and file the Employment Status Report. SUMMARY Total FTE headcount at the District as of May 01, 2000 is 494.75. PROJECT/CONTRACT COST SUMMARY Not applicable. BUDGET IMPACT D This item has been budgeted. {Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. [8J Not applicable (information item) ADDITIONAL INFORMATION To Bd. of Dir. Item Number The District had a full-time equivalent (FTE) headcount of 494.75 as of May 01, 2000. The actual number of employees was 502. There were no promotions during the month of April: There were three new employees hired during the month of April. • Sr. Accounting Clerk (Accounts Receivable) • Safety Specialist (Safety & Emergency Response) • Technical Services Assistant (Environmental Sciences Lab) \\radon\data1~.dta\agenda\FAHRIFAHR2000\2000 Agenda Repofls\FAHRCJ0..34.dot Rellised: 8/20/98 Page 1 ALTERNATIVES Not applicable. CEQA FINDINGS Not applicable. ATTACHMENTS May 01, 2000 Employment Status Report. Performance compared to 3-Year Staffing Plan. \lmlonldala1~.dla\llgendlllFAHR\FAHR2000\2000 Ag9l1da Repona\FAHR00-34.dot R~ 8/20t98 Page2 / I' 05/0112000··-IOOS .\M Employment Status Report Regular Regular Actual Vacant Budget Plan Plan Pos.itions Regular Part-time Part-rime FTE Positions FTE FTE FTE: wlin Fina! plan Fut1-1imo 20hours 30 hours Contracl lnlem LOA Count FY99·00 99-00 00·01 01-02 (FY01·021 11 o · General Management Adrnin 4 00 0.00 0.00 000 0.00 0.00 ·4.00 0.00 4.00 4.00 4 00 000 Total General Management 4.00 0.00 0.00 0.00 0.00 0,00 4.00 0.00 4.00 4.00 4.00 0.00 2 i O -finance Administration 4.00 D,00 0 00 0.00 0..00 0 00 4 .00 0.00 4.00 4.00 4.00 0.00 220 -Accounting 12.00 0.00 0.00 0 00 0.00 0.00 12.00 4.00 16.00 16 00 16.00 4.00 230 -Purchasing & Warehousing 14 00 2.00 0.00 o.oo 000 0 00 16,00 l.50 17 50 17.SO 17.50 1 50 Total Finance 30.00 2.00 0.00 0.00 0.00 0.00 32.00 6.50 37.50 37 .5'> 37.50 5.50 31 o -Communications 8.00 0.00 000 0.00 0.00 1.00 9.00 0.00 9.00 9.00 9 00 0 00 Total Communications 11.00 o.oo o.oo 0.00 0.00 1.00 9.00 0.00 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 10.25 10.25 10.25 0.00 Total Human Resources 9.00 0.50 0.75 o.oo o.oo 0.00 10.25 0.00 10.25 10.25 10.25 0.00 610. Technical ServicesAdmin 2.00 0.00 0.00 0,00 0.00 0.00 2.00 o.oo 2.00 2.00 2.00 0 00 620 -Environmental Compliance & Monitonng 17 00 0 00 0 00 0 00 1.00 0.00 18.00 2.50 20.50 20.50 20.50 2 50 630 -Environmental Laboratory 29 00 3.00 0.00 0.00 0.50 0 00 32.50 -0.50 32 00 32.00 32.00 ·050 640 -Source Control 33 00 0.00 0 75 0.00 0 00 0.00 33.75 0.00 33 75 33 75 33.75 a oo 650 -Safety & Emergency Response 8.00 0.00 o.oo 0.00 0,50 0.00 8.50 -1.00 7.50 7.50 7.50 ·l 00 0 00 Total Technical Services 89.00 3.00 0.75 0.00 2.00 o.oo 94..75 1.00 95.75 95.75 95.75 1.00 71 0 -Engineering Administration 3 00 0 00 000 0.00 o.oo 0.00 3 .. 00 0.00 3.00 3 00 3.00 0 00 720 -Planning & Design Engineering 28.00 0.00 0.75 0 00 0.50 0.00 29.25 6.00 35 25 35 25 35 25 6 00 730 -Construction Managemefll 36,00 o.oo 0 00 0 00 0 00 1.00 37.00 -0.25 36 75 36 75 36,75 ·0.25 Total Engineerln<1 67.00 0.00 0.75 0.00 0.50 1.00 69.25 6.75 75.00 75.00 75.00 5.75 420 -Collection facilities Mtce 17 50 0.00 0.00 0 00 O,OO 0 00 17.50 0.00 1750 19.50 19 50 2.00 430 -Plant Maintenance 29 50 0.00 0 00 0.00 000 0.00 2.9.50 0.00 29.SO 29.50 28 so ·1.00 810 -0 & M Administration 2 00 0.00 0.00 0.00 0 00 0.00 2.00 1.00 3.00 2 00 2 00 0.00 820 -0 & M Process Support 8.00 0.00 0 00 0 50 0 so 0.00 9.00 1.00 10.00 9.25 9 25 a 25 830 • Plant 1 Operations 32.00 a.so 0.00 0 00 0.00 0 00 32.SO .o.S3 3333 34.33 34.33 1 83 840 • Plant 2 Operations 39 00 0.00 o.oo 0.00 0 00 0.00 39.00 0.33 39.33 37 33 37.33 ·1 67 850 -Mechanical Mtce 44 00 0.00 0.00 0.00 0.00 0.00 -44.00 1.50 45 50 45 50 45 50 1 50 860 -Electrical & Instrumentation Mice 55 00 0 00 0 00 000 0,00 0.00 55.00 ·0.50 55.50 55.50 55 50 0 50 870 • Cogeneration 9.00 0 00 0,00 0 00 0 00 0.00 9.00 1.34 10.34 10.34 10 34 1 34 880 -Air Quality & Special Projects 9.00 0 00 0 00 0 00 1 00 0 00 10.00 0.00 10 00 9.50 9 50 -0 so Total Operations & Maintenance 245.00 0.50 0.00 0.50 1.50 0.00 247.60 6.50 254.00 252.75 251.75 4.25 910 ·IT Admin 2.00 000 0.00 0.00 0.00 0.00 2.00 0.00 2.00 2,00 2 00 0 00 930 • Customer & Network Support ,, 00 000 000 0 00 0 00 0.00 11.00 4.00 is oo 15 00 15 00 4 00 940 -Programming & Database Sys 7 00 0.00 0.00 0 00 0 00 000 7.00 0.00 7 00 7 00 7 00 0 00 950 ·Process Controls Integration 8.00 0.00 000 0 00 o.oo 0.00 8.00 1.00 9 00 9 00 9 00 l 00 Total lnfonnation Technology 28.00 0.00 0.00 0.00 0.00 0.00 28,00 s.oo 33.00 3"3.00 33.00 5.00 Total SUffing 480.001 6.001 2.251 0.601 4.001 2.00 494.75 23.75 518.60 617.25 616.25 21.60 Offers Outstanding: 5.50 Recruitments pending, but not offered: 9.00 Actual FTC's with current recniltments fllled: 509.25 g:~xcel dla\ht\510\welnoaruen\3-Year s1atrrng Plan Performance to 3-Year Staffing Plan 540 ...... ... .... ... . -. .... 530+..-----------·-~=--~~~~~~-=:=-.-=-=-~--~~~~--=~~__.;..;.~ ., • ...:::.l.:p ~ ....... ... '.' .... " ..... J.~. .... • .._, 520~~---==--~----~~----·'~--__;-----------------=- 't; -l:i .t 500+-~~------------~~--_....~------_;_----~--~-- 480 -----1 • FTE Headcount -• • • -3 Year Staffing Plan ~ ,___ _______ __, "¥ 470-+-...--.--...-...--.---.---.--"~~;~-.--~·-~ .. --.'-"·~~-~_,_--.---.---.,.---p---p---p-~~~~~ J A S 0 N 0 J F ~:~M A M J J A S 0 N D J F M A , M J I FY 98-99 ~· l :;;. .... '·' \· .. I FY 99-00 I .r.,. . , FAHR COMMITTEE Meeting Date To Bd. of Dir. 05/10/00 N/A AGENDA REPORT Item Number Item Number FAHR00-35 Orange County Sanitation District FROM: Marc D. Dubois, Contracts I Purchasing Manager SUBJECT: GENERAL MANAGER APPROVED PURCHASES GENERAL MANAGER'S RECOMMENDATION Receive and file report of General Manager approved purchases in amounts exceeding $50,000 in accordance with Board purchasing policies. SUMMARY In May 1998, the FAHR Committee and the Board approved changes to the staff purchasing authority. One of the changes was to increase the dollar threshold before Board authority was required for purchases of goods or services, excluding public works purchases, to $100,000. When approving this change, the Committee asked for periodic reports showing purchases approved by the General Manager for amounts between $50,000 and $100,000. Subsequent to receiving the initial report, the Committee requested that future reports be placed on the Consent Calendar. Vendor Name Amount Description/Discussion Tetra Tech EM, Inc. $94,000.00 Consultant services contract -Scientist Computational Systems, Inc. $63,569.00 Radiometric thermoaraohv svstem Section 1 O of Resolution 98-21 , the District's Purchasing and Contracts Award Resolution, authorizes the Purchasing/Contracts Manager to purchase items that have "appropriate budgetary approval." During the budget adoption process, the lists of these items were highlighted for the Directors. For these reasons, purchases that fell into these categories are not included in this report. PROJECT/CONTRACT COST SUMMARY NIA Page 1 BUDGET IMPACT 0 This item has been budgeted. 0 This item has been budgeted, but there are insufficient funds. 0 This item has not been budgeted. [8J Not applicable (information item) ADDITIONAL INFORMATION N/A ALTERNATIVES NIA CEQA FINDINGS N/A ATTACHMENTS None. Page2 FAHR COMMITTEE Meeting Date 05/10/00 AGENDA REPORT Item Number FAHR00-36 Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager SUBJECT: QUARTERLY INVESTMENT MANAGEMENT PROGRAM REPORT FOR THE PERIOD JANUARY 1, 2000 THROUGH MARCH 31, 2000 GENERAL MANAGER'S RECOMMENDATION Receive and file the Quarterly Investment Management Program Report for the period January 1, 2000 through March 31 , 2000. 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 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. [8l Not applicable (information item) H:\wp.dta\agenda\FAHRIFAHR2000\2000 Agenda Reporm\FAHR00.36.doc Re\lioed: 115198 Page 1 ToBd. 05/24/00 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 December 31, 1999 and March 31, 2000. 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 January 1 through March 31, 2000. Portfolio Performance Summary Quarter Ended March 31, 2000 Liquid Operating Monies (%) Long-Term Operating Monies(%) ·,;; .. ,. ' j, Total Rate " 'Total Rate of -\! of Return e~o~~m~!!~~1urn: Reforn ' "' Benchmar1<1~ 'i\ ,,..., " -· .ii ·'"" ·-•.. -.... . . 3 Months 1.5 1.4 1.6 1.3 6 Months 2.9 2.6 2.3 1.7 9 Months 4.3 3.8 3.5 2.8 12 Months 5.5 5.0 3.5 3.1 Since inception 30 Sept .. 95 5.5 5.1 6.1 5.8 4'·' ff -"' ' ill''e!!jfi Market Value per PIMCO 31 Mar. 00 $19.9M $351.6M Average Quality "AA+" "AAA" Current Yield(%) 6.2 6.2 Estimated Yield to Maturity ('lb) 6.5 6.9 Quarterly Deposits (Withdrawals) $63.SM Estimated Annual Income $1.1M $21.8M (1) Benchmarks: • Liquid Operating Portfolio: 3-Month Treasury Bill Index • Long-Tenn Operating Portfolio: Merrill Lynch Corp/Govt 1-5 Year Bond Index Market Recap Interest rates diverged at both the short and long ends of the Treasury yield curve, as the Federal Reserve boosted interest rates twice during the quarter to prevent the economy from overheating. At their February 2 meeting, the Federal Reserve raised the fed funds rate by 25 basis points, from 5.50% to 5. 75%. The Fed announced another 25 basis point increase to 6.00% at their March 21 meeting, and suggested future rate hikes because " ... increases in demand will continue to exceed the growth in potential H:\wp.dta\ager>da\FAHRIFAHR2000\2000 Agenda Repol\s\FAHR~.doc: R..n.ed: 115198 Page 2 supply, which could foster inflationary imbalances that would undermine the record economic expansion.'' Short-term interest rates rose as much as 57 basis points for the 3-month Treasury Bill (from 5.30% to 5.87%), fueled largely by the belief of investors that the Fed would again raise interest rates. On the other hand, long-term rates fell as investors grew concerned that the Federal government's debt buyback program would create a scarcity of long-dated Treasuries. As depicted in the attached comparative graph of the Historical Yield Curve, the yield on the 30-year Treasury benchmark fell 64 basis points, closing the first quarter at 5.84% when compared to the end of the fourth quarter 1999 at 6A7%. Yields on 10-year Treasury bonds ended the quarter at 6.00%, a decline of 40 basis points from the end of the fourth quarter (6.40%). For the Long-Term Operating Monies portfolio, PlMCO maintained a slightly below index weighted maturity or duration (2.2 vs. 2.3 years}, emphasizing holdings in mortgage-backed securities, investment grade corporate notes, and real return bonds. The performance of the portfolio outperformed its benchmark by 36 basis points for the first quarter 2000 (1 .63% vs. 1.27%). For the Liquid Operating Monies portfolio, PIMCO continued to use an uat index" duration (approximately 73 days vs. 90 days}, emphasizing investment grade corporate securities and high-quality commercial paper. This added returns to the portfolio. which outperformed its benchmark by 35 basis points for the first quarter (1 .54% vs. 1.19%). Market Outlook Forecasts from PIMCO report that U.S. economic expansion will slow as higher interest rates curb growth in the housing market and investment spending. PIMCO expects the Fed to tighten the federal funds rate with at least two more 25 basis point rate hikes this year amid concern that rapid growth could outstrip the economy's capacity and fuel inflation. The PIMCO investment strategy targets portfolio duration near the benchmarks to take advantage of higher yields provided by longer maturity securities, while limiting overall interest rate risk. PIMCO indicates that they will continue to hold short maturity corporate and U.S. government agency debt issues; concentrate on high quality commercial paper for liquidity; and emphasize asset-backed securities and mortgages, especially GNMA's which are backed by the "full faith and credir of the U.S. government, to capture higher relative yields. The attached letter from PIMCO provides a more detailed description of first- quarter market conditions, portfolio returns, future market outlook, and their recommended investment strategy for the District's Liquid and Long-Term Operating Monies portfolios. H;lwp.dta\'lgenda\FAHRIFAHR2000.2000 Agenda Repoits\FAHR00.36 doo Revised: 115198 Page 3 Portfolio Market Values On February 24, 2000, the District received approximately $63.5 million from the Orange County Investment Pool bankruptcy settlement distributions. With settlement of the Orange County bankruptcy claims, the District has recovered 94% of the amount the District had on deposit with the Orange County Investment Pool at the time of the County's bankruptcy. The funds were deposited in the District's Long-Term portfolio for investment. Comparative marked-to~market quarter-end portfolio values are shown in the table below, and in the attached bar chart. Liquid Quarter Operating Ending Monies ($Mt ALTERNATIVES NIA CEQA FINDINGS NIA ATIACHMENTS 1. PIMCO Report 2. Callan Report 31March99 18.8 30June 99 19.0 30 Seot. 99 19.3 31Dec.99 19.6 31 March 00 19.9 3. Quarter End Portfolio Market Value Bar Chart 4. Four Comparative Bar Charts 5. Historical Yield Curve Graph 6. PIMCO Letter dated April 27, 2000 SVK:lc H:\Wp.dtalagendalFAHRIFAH~ Agenda Repotts\FAHR00.31!.doc Rfl'lised: 115198 Long-Term Operating Monies ($M) 305.8 305.9 271.1 282.9 351.6 Page4 Prepared by Finance, 05/01/2000, 1 :23 PM $400' 000' 000 $350' 000' 000 $300,000,000 $250,000,000 -t---::---:::"-:o'"~ $100,000,000 OCSD Investment Management Program Quarter End Portfolio Values (Marked-to-Market) 31 Mar 99 30 Jun 99 30 Sep 99 31Dec99 31 Mar 00 I ill Liquid Operating Monies lfJ Long-Term Operating Monies J G:\excel.dta\fin\2220\geggi\Finance\investmgmtprogram Prepared by Finance, 05/01/2000, 1:30 PM OCSD Liquid Operating Monies Portfolio Investment Diversification 100100 0 0 0 0 0 0 0 0 Mtg Corp Non US$ Other Net Cash Equivalent G:\excel.dta\fin\2220\geggi\Finance\Portfolio short term D 12/31/99 ~ 3/31/00 Prepared by Finance, 05/01/2000, 1 :31 PM 100 90 80 .....-.... 70 ~ 60 0 ..._.. .., c: 50 Q) (.) 40 40 39 '-Q) a. 30 20 10 0 Govt OCSD Long-Term Operating Monies Portfolio Investment Diversification 0 0 0 0 Mtg Corp Non US$ Other Net Cash Equivalent G:\excel.dta\fin\2220\geggi\Finance\Portfolio long term graph D 12/31/99 ~ 3/31/00 Prepared by Finance, 05/01/2000, 1 :36 PM G:\excel.dta\fin\2220\geggi\Finance\Portfolio short term Prepared by Finance, 05/01/2000, 1 :37 PM OCSD Long-Term Operating Monies Portfolio Investment Credit Quality 100 90 80 70 .....-.. ~ 60 D 12/31/99 0 ""-" -+oJ ~ 3/31/00 c 50 (]) 0 L. 40 (]) a.. 30 - 19 20 20 10 0 A1/P1 AAA AA A G:\excel.dta\fin\2220\geggi\Finance\Portfolio long term graph Prepared by Finance, 05/01/2000, 1:12 PM 'HISTORICAL YIELD CURVE! 7.00 6.75 6.50 6.25 6.00 -5.75 ~ 0 _J 5.50 w s: 5.25 5.00 4.75 4.50 4.25 4.00 0 0 E e M co ... ... ... ... ... ... ... ... ... >. >. >. >. >. >. >. >. >. """ N M "It It) ..... 0 0 0 """ N M -+-30-Sep-99 -c-31-0ec-99 -31-Mar-OO I G:\excel.dta\fin\2220\geggi\Finance\HistoricalTREASURYyieldcurve April 27, 2000 Mr. Steve Kozak Finance Manager Orange County Sanitation District P.O. Box 8127 Fountain Valley, CA 92728-8127 Re: 1st Quarter 2000 Report Dear Steve: PIM C 0 PACIFIC INVESTMENT MANAGEMENT COMPANY 840 Newport Center Drive Suite300 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 1st Quarter 2000 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 . Bonil Market Recap: U.S. Yield Curve Inverts Amid Government Debt Buyback The short and long ends of the Treasury market diverged during the fust quarter. Short-term Treasury yields rose as much as 57 basis points in anticipation of more tightening by the Federal Reserve. The 30-year yield fell 64 basis points, closing the quarter at 5.84 percent, as investors grew concerned that the govenunent's debt buyback would create a scarcity of long- term Treasuries. Yields on mortgages and corporate bonds did not fall in line with Treasuries, which caused yield premiums on non-Treasury bonds to widen. The market correctly anticipated the Fed's intentions, as the central bank raised the federal funds ' rate twice in 25 basis point increments during the quarter. The Fed suggested that more rate hikes are in the offering because "increases in demand will continue to exceed t~e growth in potential supply, which could foster inflationary imbalances that would undermine the record economic expansion.'' Those imbalances include the record U.S. trade deficit, high corporate and individual debt levels and tight labor markets. Strong equity and housing markets also represent a potential threat because they create a wealth effect that fuels consumer demand. Still, actual inflation remained relatively subdued during the quarter. While effects of increased energy prices showed up in higher headline consumer price inflation, the core rate outside of energy and food costs was little changed. Mr. Steve Kozak Orange County Sanitation District April 27, 2000 Page Two ECB Tightens to Check Inflation; Japan Remains Sluggish The European Central Ban1c also tightened twice in the first quarter. Faster economic growth in the 11-nation euro zone pushed inflation above the ECB's two percent limit in several countries, prompting the rate hikes. ECB tightening was also designed to bolster the euro, which weakened in recent months amid capital outflows to the U.S. Japan moved in the opposite direction from Europe and the U.S. The government announced a 1.4 percent contraction in fourth quarter GDP, the second consecutive quarterly decline, as consumer confidence remained weak despite substantial fiscal stimulus. Yield Curve Shift, Credit Concerns Benefit Treasuries Treasuries generally outperfonned during the first quarter. Falling 10-and 30-year Treasury yields and concern about credit deterioration in the midst of Fed tightening lured investors away from other bond market sectors. The following summarizes relative sector performance: • Mortgages lagged Treasuries as higher interest rate volatility and concern abont government agency credit quality caused yield premiums to widen. • Corporate bonds fared even worse than mortgages, especially the non-investment grade sector. Supply pressures were a negative early in the quarter, coupled with concern about rising corporate debt levels associated with share repurchases and heightened LBO activity. • By contrast, emerging market bonds, led by lower-quality credits in Russia and Ecuador, continued to outperform Treasuries. Stronger global growth and higher commodity prices also supported upper-tier credits such as Mexico, whose credit rating was raised to investment grade. • Currency-hedged European and Japanese bonds also underperformed, unable to keep pace with the Treasury rally despite lower levels of economic growth than the U .S. Perfonnance Attribution: Long Term Portfolio The Long-Term portfolio that PIMCO manages on behalf of Orange County Sanitation District turned in a 1. 63 percent return over the quarter, outperfonning the Merrill Lynch. 1-5 year Government Corporate Index by 36 basis points. This portfolio's performance was due in part to the following factors: • Our below-index duration positively impacted returns as short-term interest rates rose. • A broader-than-index maturity structure was modestly positive as short maturity rates rose most. PACIFIC INVESTMENT MANAGEMENT COMPANY ' Mr. Steve Kozak Orange County Sanitation District Perfonmmce Attributum: (Continued) April 27, 2000 Page Three • A mortgage emphasis added to returns slightly as our concentration in GNMA's benefited from investor demand for government guaranteed securities. • Investment-grade corporates were neutral as relatively high yields offset the impact of widening credit spreads. • Asset-backed securities helped returns because yield premiums continued to narrow as issuance declined. • Real return bonds outperformed like-duration Treasuries, adding to performance, as real yields fell . Liquid Portfolio The Liquid portfolio that PIMCO manages on behalf of Orange County Sanitation District turned in a 1.54 percent return over the quarter, outperforming the 3 month Treasury BilJ Index by 35 basis points. This portfolio's performance was due in part to the following factors: • Our index-like portfolio duration was neutral. • Investment-grade corporates added to returns as higher yields more than offset the impact of widening spreads. • High quality commercial paper added to returns due to their yield advantage over Treasuries. Economic Outlook: U.S. and European Economic Growth To Converge U.S. expansion will decelerate as higher interest rates curb growth in the housing market and investment spending. European growth will pick up and approach that of the U.S. due to a relatively accommodative monetary policy and a weak euro. Japan's economy will remain weak as a highly stimulative fiscal policy shows few signs of sparking sust.alnable growth. The following points elaborate our outlook: • U.S. mortgage rates well above 8 percent will discourage new home sales and slow consumer spending through reductions in durable goods' purchases that typically accompany home purchases. PACIFIC INVESTMENT MANAGEMENT COMPANY Mr. Steve Kozak Orange County Sanitation District Economic Outlook: (Continued) April 27, 2000 Page Four • U.S. investment spending growth has already started to turn down as a percentage of total GDP growth and will continue to moderate as higher rates raise the cost of capital investment. • Monetary policy in the U.S. will be restrictive, with at least two more 25 basis point rate hikes this year, amid concern that rapid growth could outstrip the economy's capacity and fuel inflation. • Interest rates in the U.S. will remain relatively stable, with some upward pressure given the direction of Fed policy. • In Europe, consumer confidence should continue to rise and enhance growth prospects now that average unemployment has fallen into single digits and is nearing a seven-year low. • Japan's growing debt burden and deteriorating credit fundamentals threaten to push interest rates higher and limit any resurgence in the economy. European Inflation Will Continue to Lag That of U.S. U.S. inflation will remain above last year's relatively low levels following recent increases in commodity and import prices, but will moderate later this year after the impact of higher oil prices has been realized. European inflation will increase but remain below that of the U.S. because Europe's expansion is at an earlier stage and its unused capacity is greater, especially in the labor market. Financial Imbalances Make Portfolio Quality Critical Japan is not the only country where mounting debt poses risks. The U.S. is also vulnerable to higher interest rates and/or declining asset prices because of financial imbalances. Non-U .S. investors may eventually require higher rates to finance the record U.S. current account deficit. Current high levels of consumer and corporate debt will be hard to sustain if the assets backing the debt (stocks, for example) fall in value. A voiding adverse price performance arising from credit deterioration will be critical for earning superior returns in this environment. Longer maturity Treasuries, which will benefit from U.S. budget surpluses and debt buybacks, are one alternative. Mortgages are another because they offer attractive yields relative to Treasuries with little or no credit risk. GNMA mortgages, for example, are backed by the "full faith and credit" of the U.S. government. Corporate and emerging market bonds are most vulnerable to declines in credit quality, though their attractive yields may compensate for PACIFIC INVESTMENT MANAGEMENT COMPANY Mr. Steve Kozak Orange County Sanitation District April 27, 2000 Page Five A voiding adverse price performance arising from credit deterioration will be critical for earning superior returns in this environment. (Continued) the added risk. Among developed non-U.S. markets, European and Japanese government bonds are likely to lag Treasuries as European growth converges with the U.S. and concerns about Japan's credit standing increase. Strategv: The following lists highlight the strategies that will be used in the Long Term portfolio in the coming months: • While continuing to emphasize yield, position portfolios for an overall "flight to quality" in the bond market. • Target duration near the benchmark to take advantage of higher yields on 1onger- maturity securities without increasing interest rate risk. • Maintain a broader-than-index maturity structure in order to capture value across the yield curve. • Emphasize mortgages to earn attractive yields, especially GNMA's, which should benefit from investors' search for "full faith and credit" government securities. • Concentrate investment-grade corporate holdings on shorter-maturity bonds that are less vulnerable to widening yield premiums. • Continue to favor adjustable-rate mortgages as higher yielding, short-term holdings. • Hold high quality asset-backed securities with a focus on home equity and other higher yielding market segments. The following lists highlights the strategies that will be used in the Liquid portfolio in the coming months: • Target duration near the index to capture yield while limiting overall interest rate sensitivity. • Continue to hold select short-duration corporate issues to take advantage of high yields given minimal added risk. • Emphasize high quality commercial paper and shorter-term agency debt issues due to strong liquidity, attractive yields and limited credit risk. PACIFIC INVESTMENT MANAGEMENT COMPANY Mr. Steve Kozak Orange County Sanitation District April 27 > 2000 Page Six Steve, we hope this information proves useful. We look forward to discussing these and other issues with you in the near future. Sincerely, 'f(,;. J-l_ Rita J. Seymour Vice President RJS/JAF:ci ~Af~ Joseph A. Fournier Account Manager PACIFIC INVESTMENT MANAGEMENT COMPANY FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Gary G. Streed, Director of Finance Originator: Michael D. White, Controller Meeting Date 5/10/00 Item Number FAHR00-37 SUBJECT: Third Quarter Financial and Operational Report prepared by staff for the period ended March 31, 2000. GENERAL MANAGER'S RECOMMENDATION Receive and file the Third Quarter Financial and Operational Report for the period ending March 31, 2000. SUMMARY Attached in a separately bound document is the District's Third Quarter Financial and Operational Report for the period ended March 31, 2000. This report is a consolidation of both the financial and operational accomplishments of the District through the third quarter of the 1999-00 fiscal year. Contained within the Mid-Year Financial Report are budget summary reviews of the Joint Operating & Working Capital Funds, the Capital Improvement Program, individual Revenue Areas, and the self-insurance funds. Also contained within this report is the status of the divisional performance objectives and workplan milestones identified in the 1999-00 Approved Budget. As indicated within the Overview Section of this report, 7 4.57 percent, or $32,810,000 of the 1999-00 net joint operating budget of $44.0 million has been expended. Net costs have increased 3.50 percent in comparison with the same period last year. The total cost per million gallons at March 31, 2000 is $495.41 based on flows of 66.2 billion gallons, or 243 million gallons per day. This is $13.17, or 2. 73 percent above the budgeted cost per million gallons of $482.24. This overage is due to the shortfall in flows which are 3. 7 percent below the budgeted amount of 250 million gallons per day. Capital improvement outlays through March 31were45.12 percent of budget, or $41,691,800. To Bd. of Dir. 5/24/00 Item Number \ltadonldata1'1wp.dtalagenda\FAHRIFAHR2000\2000 Agenda RepottslFAHR00-37.doc Revised: 115196 Page 1 Expenses and outlays of all Revenue Areas totaled $141.37 million, or 75.42 percent of budget through March 31. Costs related to capital improvement projects are only at $41 .69 million, or 45.12 percent of budget. This capital outlay shortage is offset by the excess costs incurred in Revenue Area Operating and Other Expenses totaling $29.4 million, or 314.0 percent of the $9.4 million budget. Of this total amount, $22, 782,400 was a write-off of investments previously held in the Orange County Investment Pool. PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT D This item has been budgeted. (Line item: ) 0 This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. [81 Not applicable (information item) ATTACHMENTS District's Third Quarter Financial and Operational Report for the period ended March 31 , 2000. \\radon\data11wp.dlalagenda\FAHR\FAHR2000\2000 Agenda Repotts\FAHR00.37.doc RfMsed: 1151118 Page2 FAHR COMMilTEE Meeting Date 5/10/00 AGENDA REPORT Item Number Orange County Sanitation District FROM: Lisa Tomko, Acting Director of Human Resources Originator: Dawn McKinley, Senior Human Resources SUBJECT: CHANGES AND ADDITIONS TO HUMAN RESOURCES POLICIES AND PROCEDURES AS AUTHORIZED BY RESOLUTION 98-33 GENERAL MANAGER'S RECOMMENDATION FAHR00-38 Adopt Resolution No. OCSD 00-_, Amending Resolution No. OCSD 98-33, Amending Human Resources and Policies Procedures Manual. SUMMARY The attached policies are routine updates or additions to maintain consistent language with the Memorandums of Understanding (MOU) and/or new legislation or to explain procedures more clearly. Copies of all policies affected are attached. Additional language is highlighted in gray; deleted language is lined through. 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. [8J Not applicable (information item) H:\wp.dtalagenda\FAHRIFAHR2000\2000 Agenda Reports\FAHR00-38.doc Page 1 ToJt. Bds. 5/24/00 Item Number ADDITIONAL INFORMATION Policy Number From To Reason And Subject For Change C10.00-Classiftcations, Positions, Current "step" language Pay for Performance Changes per the OCEA Salary Ranges and Wages and pay ranges. language & pay ranges for negotiations and updates OCEA. Removal of needed to clarify the policy. probationary increases for OCEA. Clarification on timing of reclassifications. Clarify "proration• of merit increases. C20.00 -Compensation Current "step" language Pay for Performance Changes per the OCEA and pay ranges. language & pay ranges for negotiations and updates OCEA. Removal of needed to clarify the policy. probationary increases for OCEA. Clarification on timing of reclassifications. Clarify "proration" of merit increases. C30.00-Appraisal of Performance Current "step" language Pay for Performance Changes per the OCEA and pay ranges. language & pay ranges for negotiations. OCEA. 090.00-Tuition Reimbursement Current language. Define eligible employees. Clarify policy and increase Program Streamline reimbursement accountability of staff. process. Make employee more accountable for submitting request for reimbursement. Human Resources Policy C10.00, Exhibit A, Salary Schedule, has been updated to reflect the changes outlined above and is attached for review and acceptance. Exhibit A can be found in Attachment 1. ALTERNATIVES NIA CEQA FINDINGS N/A ATTACHMENTS 1. Policy C10.00 2. Policy C20.00 3. Policy C30.00 4. Policy 090.00 Classifications, Positions, Salary Ranges and Wages Compensation Appraisal of Performance Tuition Reimbursement Program H:\wp.dtaW$jenda\Fi\HR\FAHR20()().2000 Agenda Reports\FAHR00.38.doe Page2 RESOLUTION NO. OCSD 00- AMENDING RESOLUTION NO. OCSD 98-33 A RESOLUTION OF THE BOARD OF DIRECTORS OF ORANGE COUNTY SANITATION DISTRICT AMENDING HUMAN RESOURCES POLICIES AND PROCEDURES The Board of Directors of Orange County Sanitation District, DOES HEREBY RESOLVE, DETERMINE AND ORDER: Section 1: Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. C10.00, Classifications, Positions, Salary Ranges and Wages, set forth in Attachment No. 1, attached hereto and incorporated herein by reference. Section 2: Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. C20.00, Compensation, set forth in Attachment No. 2, attached hereto and incorporated herein by reference. Section 3: Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. C30.00, Appraisal of Performance, set forth in Attachment No. 3, attached hereto and incorporated herein by reference. Section 4: Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. 090.00, Tuition Reimbursement Program, set forth in Attachment No. 3, attached hereto and incorporated herein by reference. Section 5: That all other terms and conditions of Resolution No. OCSD 98-33 shall remain in full force and effect. Section 6: That all future amendments to Resolution No. OCSD 98-33 be made by Resolution. PASSED AND ADOPTED at a regular meeting held May 24, 2000. Chair ATTEST: Board Secretary H:\wp.dlll\agenda\FAHR\FAHR200<1'2000 Agenda ReportslfAHROJ.3S.d°" Page3 ATTACHMENT 1 @ Orange County Policy Number: C10.00 Sanitation District Effective Date: May 24, 2000 ~ Subject: CLASSIFICATIONS, Supersedes: November 17, 1999 POSITIONS, SALARY RANGES AND WAGES Approved by: 1.0 PURPOSE 1.1 The purpose of this policy is to establish uniform guidelines and procedures for use in the administration of the District's compensation programs. 2.0 ORGANIZATIONAL UNITS AFFECTED 2.1 All District employees. 3.0 DEFINITIONS Classifications are groups of positions, regardless of location, which are alike enough in duties and responsibilities to be called by the same descriptive title, to be given the same pay scale under similar conditions, and to require substantially the same qualifications. Salary Ranges are the range of pay rates, from minimum to maximum, set for a pay grade or class 4.0 POLICY 4.1 The District Compensation Program provides for the establishment of a wage and benefit structure through the Meet and Confer process that allows employees to effectively compete in the labor market and to retain present employees through an internally consistent measure of relative job worth and personal merit. Every position is assigned to a salary grade based upon the duties and responsibilities of that position and the comparative market value of that job function . Comparisons are most generally made with organizations of similar size and engaged in similar occupational pursuits within the geographic area of potential recruitment. The basic salary ranges are set forth on Exhibit A. 4.2 Non~management employees are awarded merit increases based upon their performance, as determined by the performance evaluation program, and the position of their salary within the pay range. The Merit Matrix is the tool used to determine the actual amount of merit increase. In addition, employees ·~ S~perv.1'5ory aRd ProfQ&&fQRal <;~~P who at least meet expectations receive annual Cost of Living Adjustments (COLA) to keep employees' salaries at market. The amount of the COLA is based on the Consumer Price Index (CPI, All-Urban Consumers-LA, Riverside, Orange County) for the month of May and is distributed as a base-building increase. 4.3 Employees in the Executive Management and Management Groups are awarded merit increases based upon their performance, as determined by the Page 1 performance evaluation program and the position of their salary relative to the external market. External market rates are determined through the use of salary surveys. The merit increase may be distributed as base building or non-base building. 4.4 The General Manager is authorized to employ and assign persons as needed to occupy budgeted positions and to exercise supervision over all persons in accordance with the provisions of this policy and to terminate, for cause, the employment of any regular full time employee employed under these provisions. All other employees, e.g., probationary, part-time, and limited term/temporary and contract may be terminated at the District's sole discretion. 4.5 The General Manager is also authorized to employ Executive Management employees on an "at-will" basis. Such status shall be memorialized by a written agreement signed by the General Manager and the Executive Manager, acknowledging that the Executive Manager shall serve at the pleasure of the General Manager. Any Executive Management employee so employed on the date of adoption of this policy, who has not signed an "at-will" agreement may voluntarily elect to do so, but may not be required to do so. 4.6 Notwithstanding any other provisions of this pollcy or any prior Board action. the General Manager ls authorized to periodically adjust the rate of compensation of Executive Management employees who have signed "at-will" agreements so long as no adf ustment exceeds the compensation permitted by the applicable salary range established by the Joint Boards of Directors. 4.7 Employees who believe their position is not properly classified may request a classification study of their position through their Department Head. Classification studies shall only be conducted \Vt1ce a year 1i:i r>lgveFRber aRg May during the budget planning process in accordance with a schedule that is announced annually by the General Manager. Reclassifications approved in the budget may be made effective any time during the new fiscal year. Classification studies may also be considered one other time during the year in November. Ctassilication study requests must be submitted to Human Resources no later than October 1 O~ for the November cycle. 4 7.1 Classi~caUgn study FeqY8&ts st:iguld be subr+1i~eg tg Hur+1an R8SQYi:ces AQ lat9r tl:iai:i Octobiir 1 Qlll fQr tRa r>lovwir=Rbiir "Y"lii ili:lQ no lah~r tt:i•R .A.pril .w~ fQr tRe Uay cycle 4.7.2 All classification study findings regarding existing classifications are subject to approval by the General Manager; findings recommending new job classification titles are subject to approval by the District's Boards of Directors. 4.8 The District shall provide an investment incentive salary to the employees within the classifications and in the amounts, as set forth in Section 4.8.1, which amounts are based on a percentage of salary equal to the amount previously paid to designated employees pursuant to District Policy No. c·1so.oo. Section 7.1, effective October 22. 1997, and repealed April 22, 1998. 4.8 .1 The percentage of base salary amounts are as follows: Executive management-6% (up to a maximum IRS amount) Division management and supervisor -4% Professional and confidential -3% Page2 5.0 PROCEDURE 5.1 Executive Management, Management. Supervisory. Professional and OCEA. Group Employees 5.1 .1 New Employees. Employees wRe are RiF9Q iRtg E,x9c1.1ti'-"il Uar:ia9er:i::tent, MaRei9&FR&r:it, 5twper1iSQPf ar:ig Prgfessigr:ial Grgwp pgsitigr:is witl:l "exen:ipt• salaPf Fdn9es shall be offered a salary at or near the minimum of the range unless their level of background, expertise or prior earnings result in a requirement for a salary greater than the minimum. The determination of an appropriate salary should also consider relationships to other employees in the same classification and to employees supervised, if any. 5.1.1.1 Employees ir:i "exei::'flpf range classiucaij9f!& serve a Probationary Period of six months and receive a comprehensive performance evaluation at the end of that period. Employees who successfully conclude their probation are eligible for a salary adjustment the subsequent July in accordance with the provisions of the Management Performance Review Program established by separate action of the Boards of Directors as amended from time to time. 5.1.2 Annual Management Performance Review Pro9ram. An annual performance review is completed for all employees ir:i ''exen:ipt" Fang& cleissiticaiigns in accordance with the provisions of the performance evaluation Program. Performance based salary adjustments occur on the first day of the first pay period in July, and may be prorated based upon the date of hirer or promotion, gr last ii;ici;ease in those instances where the individual has not concluded probation as of July 1. 5.1.3 Promotional Increases. Employees in "exempt" range classifications who earn promotions to a new "exempt" range classification will normally be offered a salary below the midpoint of the range that is commensurate with their level of training and expertise. prior earnings, and in an appropriate relationsh ip to other employees in the same classification and to employees supervised. The new salary will normally represent an increase of at least 5.5 percent. Employees iR "exe!'Rpt" raR9e slassiucatigR& are not entitled to a salary adjustment at the conclusion of the Promotional Probationary Period. If the employee's probation period has not concluded as of July 1, the performance based salary adjustment is deferred until such time as probation is successfully concluded. 5.2 Local 501 Employees on the Five-Step Pay Plan 5.2.1 New Employees. Employees who successfully complete their Initial Probationary Period and are recommended for continued employment are eligible for consideration of a salary adjustment of up to one step (5.5%) effective on the first day of the pay period following completion of the Initial Probationary Period. The Salary Review date for subsequent annual reviews is established on the first day of a pay period following 26 weeks of continuous service and satisfactory completion of probation. Page 3 5.2"2 Annual Merit Increase. Employees who are not at the top of the salary range for their classification are eligible for consideration of an annual salary adjustment of up to one step (5.5%) on their Salary Review date, provided their performance fully meets expectations. 5.2.3 Promotional Increase. Employees who earn a promotion are entitled to a promotional increase of 5.5%, or to the base of the new range, whichever is greater, upon the effective date of the promotion. If an employee has not successfully completed their Promotional Probationary Period on their Salary Review date, any adjustment resulting from that annual review will be delayed until such time as the probationary period is completed. 6.0 EXCEPTIONS 6.1 Sections 5.2.1, 5.2.2 and 5.2.3 do not apply to At-will Executive Management Employees. 7 .0 PROVISIONS AND CONDITIONS 8.0 RELATED DOCUMENTS 8.1 Exhibit A 8.2 Fair Labor Standards Act Page4 AMIJO S/24/00 Orange County Sanitation District Classifications By Employee Group Administrative and Clerical Exhibit A Pay Range Minimum Maximum Classifications FLSA Status NE8 44,809 58,182 Information Services Technician Ill Non-Exempt NE7 42,301 55,195 Financial Technician Non-Exempt NE7 42,301 55,195 Graphics Coordinator Non-Exempt NE6 38,501 50, 155 Senior Storeskeeper Non-Exempt NE6 38,501 50,155 Administrative Assistant Non-Exempt NE6 38,501 50,155 Graphics Services Assistant Non-Exempt NE6 38,501 50,155 Information Services Technician II Non-Exempt NE4 33,800 44,027 Information Services Technician I Non-Exempt NE4 33,800 44,027 Secretary Non-Exempl NE3 31,651 41,001 Senior Accounting Clerk Non-Exempt NE3 31,651 41,001 Senior Office Aide Non-Exempt NE3 31,651 41,001 Storeskeeper Non-Exempt NE2 29,800 38,750 Accounting Clerk Non-Exempt NEZ 29,800 38,750 Office Aide Non-Exempt NE2 29,800 38,750 Office Specialist Non-Exempt NE1 23,250 30,164 Storeskeeper Assistant Non-Exempt NE1 23,250 30,164 Technical SeNices Assistant Non-Exempt AllAOO 5124100 Pay Range Minimum NE9 49,001 NE9 49,001 NE8 44,809 NE7 42,301 NE5 36,200 NE4 33,800 Orange County Sanitation District Classifications By Employee Group Engineering Maximum Classifications 63,611 Senior Construction Inspector 63,611 Engineering Associate 58,182 Construction Inspector 55,195 Engineer Aide Ill 47,066 Engineering Aide II 44,027 Engineering Aide I FLSA Status Non-Exempt Non-Exempt Non-Exempt Non-Exempt Non-Exempt Non-Exempt AllAOO 512A/OO Orange County Sanitation District Classifications By Employee Group Technical Services Pay Range Minimum Maximum Classifications FLSA Status NE8 44,809 58,182 Environmental Specialist II Non-Exempt NE8 44,809 58,182 Source Control Inspector II Non-Exempt NE8 44,809 58,182 Senior Laboratory Analyst Non-Exempt NE6 38,501 50,155 Environmental Specialist I Non-Exempt NE6 38,501 50,155 Laboratory Analyst Non-Exempt NES 38,501 50,155 Source Control Inspector I Non-Exempt NE4 33,800 44,027 Source Control Technician Non-Exempt AttADO Pay Range NE7 NE6 NE6 NE6 NE2 Minimum 42,301 38,501 38,501 38,501 29,800 Orange County Sanitation District Classifications By Employee Group Confidential Maximum 55, 195 50,155 50,155 50,155 38,750 Classifications Executive Assistant II Administrative Assistant Human Resources Assistant Principal Accounting Clerk Office Specialist FLSA Status Non-Exempt Non-Exempt Non-Exempt Non-Exempt Non-Exempt AtlAOO 5/24100 Orange County Sanitation District Classifications By Employee Group Operations and Maintenance (501) Pay Range Minimum Maximum Classifications FLSA Status 2015 47,285 58,883 Lead Electrical Technician Non-Exempt 2015 47.285 58,883 Lead Instrumentation Technician Non-Exempt '" •' 2015 47,285 58,883 Lead Pump Power Operator Non-Exempt 2014 44.778 55,748 Electrical Technician II Non-Exempt 2014 44.778 55,748 Instrumentation Technician II Non-Exempt 2013 43,258 53,868 Lead Mechanic Non-Exempt 2013 43,258 53,868 Pump Power Operator Non-Exempt 2013 43.258 53,868 Lead Plant Operator Non-Exempt ~ ~ ~ SeriQ• Pi;Hil Oi:u;ratQr l>IQ~ lii>1eR"lpt 2012 41,812 52,060 Lead Collection Facilities Worker Non-Exempt 2012 41 ,812 52.060 Lead Worker Non-Exempt 2012 41,812 52,060 Machinist Non-Exempt 2011 39,304 48.949 Senior Mechanic Non-Exempt 2011 39,304 48,949 \Nelder Non-Exempt 2010 39,040 48,612 Equipment Operator Non-Exempt 2009 37,979 47,285 Builder Non-Exempt 2009 37,979 47,285 Electrical Technician I Non-Exempt 2009 37,979 47,285 Instrumentation Technician I Non-Exempt 2008 37.737 46,973 Plant Operator Non-Exempt 2007 34,505 42,969 Electrical Maintenance Worker Non-Exempt 2007 34,505 42.969 Instrumentation Maintenance Worker Non-Exempt 2007 34,505 42,969 Painter Non-Exempt 2007 34,505 42,969 Senior Maintenance Worker Non-Exempt 2007 34,505 42,969 Senior Collection Facilities Worker Non-Exempt 2006 33,590 41 ,812 Mechanic Non-Exempt 2005 31,348 39,040 Collection Facilities Worker II Non-Exempt 2005 31,348 39,040 Maintenance Worker Non-Exempt 2004 ,30,938 38,509 Operator In Training Non-Exempt 2003 29,875 37,207 Groundskeeper Non-Exempt 2002 29.490 36.700 Control Center Clerk Non-Exempt 2001 24,184 30,093 Collection Facilities Worker I Non-Exempt 2000 22.882 28,502 Helper Non-Exempt At\AOO 5124/eO Orange County Sanitation District Classifications By Employee Group Professional Pay Range Minimum Maximum Classifications FLSA Status E14 $70,380 $99,600 Chief Scientist Exempt E13 $67,128 $94,932 Assistanl to the General Manager Exempt E13 $67,128 $94,932 Senior Engineer Exempt E12 $63,948 $90,468 Senior Scientist Exempt E12 $63,948 $90,468 Senior Regulatory Specialist Exempt E11 $60,828 $86,064 Engineer Exempt E11 $60,828 $86,064 IT Strategic Implementation Leader Exempt E10 $57,852 $81,948 Secretary to the Board of Directors Exempt E9 $55,212 $78,156 Principal Administrative Analyst Exempt E9 $55,212 $78,156 Principal Engineering Associate Exempt E9 $55,212 $78,156 Project Specialist Exempt E9 $55,212 $78,156 Regulatory Specialist Exempt E9 $55,212 $78,156 Scientist Exempt E9 $55,212 $78,156 Principal Accountant Exempt E9 $55,212 $78,156 Principal Financial An<1lyst Exempt E9 $55,212 $78,156 Senior Human Resources Ahalyst Exempt EB $52,500 $74,292 Assodate Engineer Ill Exempt EB $52,500 $74,292 Principal Environmental Specialist Exempt EB $52,500 $74,292 Safety & Emergency Response Specialist Exempt E? $50,064 $70,848 Programmer Analyst Exempt E7 $50,064 $70,848 Computer Hardware Specialist Exempt E7 $50,064 $70,848 Telecommunications Specialist Exempt E7 $50,064 $70,848 Maintenance Planner Exempt E7 $50,064 $70,848 Contracts Administrator Exempt E6 $47,640 $67,392 Principal l aboratory & Research Analyst Exempt E6 $47,640 $67,392 Senior Administrative Analyst Exempt ES $45,396 $64,212 Associate Engineer II Exempt E5 $45,396 $64,212 Senior Accountant Exempt E5 $45,396 $64,212 Senior Financial Analyst Exempt ES $45,396 $64,212 Human Resources Analyst Exempt ES $45.396 $64,212 Senior Envfronmental Specialist Exempt E4 $43,248 $61 ,236 Safety Representative Exempt E4 $43,248 $61,236 Programmer Exempt E4 $43,248 $61,236 Senfor Buyer Exempt E3 $41,136 $58,260 Associate Engineer I Exempt E2 $39,252 $55,488 Contracts Specialist Exempt E1 $37,284 $52,908 Accountant Exempt E1 $37,284 $52,908 Buyer Exempt E1 $37,284 $52,908 Financial Analyst Exempt E1 $37,284 $52,908 Management Analyst Exempt AltAOO Sf.WOO Orange County Sanitation District Classifications By Employee Group Supervisory Pay Range Minimum Maximum Classifications FLSA Status E14 $70,380 $99,600 Engineering Supervisor Exempt E13 $67,128 $94,932 Environmental Management Supervfsor Exempt E12 $63,948 $90,468 Laboratory Supervlsor Exempt E11 $60,828 $86,064 Senior Operations Supervisor Exempt E11 $60,828 $86,064 Senior Maintenance Supervisor Exempt E11 $60,828 $86,064 Information Technology Supervisor Exempt E11 $60,828 $86.064 Contracts & Purchasing Supervisor Exempt E11 S60,828 $86,064 Accounting Supervisor Exempt E11 $60,828 S86,064 Human Resources Supervisor Exempt E9 $55,212 $78, 156 Maintenance SupeNisor Exempt E9 $55,212 $78,156 Operations Supervisor Exempt E9 $55,212 $78,156 Source Control Supervisor Exempt E9 $55,212 $78, 156 SupeNising Construction Inspector Exempt E9 $55,212 $78,156 Warehouse Supervisor Exempt Al!AOO S/24100 Orange County Sanitation District Classifications By Employee Group Management Pay Range Minimum Maximum Classifications FLSA Status E16 $77,688 $109,812 Construction Manager Exempt E16 $77,688 $109,812 Engineering Manager Exempt E16 $77,688 $109,812 Environmental Compliance & Monitoring Manager Exempt E16 $77,688 $109,812 Laboratory Manager Exempt E16 $77,688 $109,812 Source Control Manager Exempt E15 $73,956 $104,616 Controller Exempt E15 $73,956 $104,616 Financial Manager Exempt E15 $73,956 $104,616 Plant Automation Manager Exempt E15 $73,956 $104,616 Contracts & Purchasing Manager Exempt E13 $67, 128 $94,932 Accounting Manager Exempt E13 $67,128 $94,932 Safety/Emergency Response Manager Exempt E13 $67, 128 $94,932 Maintenance Manager Exempt E13 $67,128 $94,932 Human Resources Manager Exempt E13 $67, 128 $94,932 Operations Manager Exempt E13 $67,128 $94,932 Information Technology Manager Exempt At!AOO 5124/UO Pay Range Minimum E27 $154,596 E20 $95,676 E19 $87,180 E19 $87,180 E19 $87, 180 E19 $87,180 E18 $85,992 E18 $85,992 E17 $75,876 E13 $67,128 Orange County Sanitation District Classifications By Employee Group Executive Management Maximum Classifications $154,596 General Manager $148,836 Assistant General Manager $139,980 Director of En_glneering $139,980 Director of Operations & Maintenance $139,980 Director of General Services Administration $139,980 Director of Technical Services $139,464 Director of Ffnance $139,464 Director of Information Technology $119,784 Director of Human Resources $94,932 Director of Communications FLSA Status Exempt Exempt Exempt Exempt Exempt Exempt Exempt Exempt Exempt Exempt AHAOO Pay Range NEO Minimum 9.000 Orange County Sanitation District Classifications By Employee Group "Non-Regular" Part Time Maximum Classifications 16.000 Intern FLSA Status Non-Exempt Attachment 2 @ Orange County Policy Number: C20.00 Sanitation District Effective Date: May 24, 2000 ... Subject: COMPENSATION Supersedes: November 17, 1999 Approved by: 1.0 PURPOSE 1.1 The purpose of this policy is to establish and maintain uniform compensation standards for all District employees. 2.0 ORGANIZATIONAL UNITS AFFECTED 2.1 Th is policy applies to all District employees, as specified herein 3.0 DEFINITIONS 4.0 POLICY 4.1 It is the policy of the District to apply uniform compensation standards. The District Compensation Program provides for the establishment of a wage and benefit structure through the Meet and Confer process that allows District management to effectively compete in the labor market and to retain present employees through an internally consistent measure of relative job worth and personal merit. 5.0 PROCEDURE 5 .1 Exempt Employees 5.1 .1 Exempt employees shall be compensated at a monthly rate within the salary range authorized for the classification in which they are employed. 5.2 Non-exempt Employees 5.2.1 Non-exempt employees shall be compensated at an hourly rate within the salary range authorized for the classification in which they are employed. 5.3 Executive Management, Management, S_upervisory-;-ProfessiohaLand Q9EA GjQ_up EmplQyees E RaRg& Cl:usi"saUGR& Pagel of5 5.3.1 N~w Efilplo_yee_s 5.3.1.1 An employee hir8d in*'9 l2rgf9&signal, ~i.tpilrvi&gry1 ixes1o1ti¥8 Mana9&R1ent and Mana9iH~snt '9rg1o1p pgsitign& with "~s1+1pt" salary r::ang&s shall be offered a salary at or near the minimum of the range unless their level of background, expertise or prior earnings indicates a need for a salary greater than the minimum. 5.3.1.1.1 The determination of an appropriate salary should also consider the relationship of the employee's proposed salary to that of other employees in the same classification and to employees supervised, if any. 5.3.2 Probation 5.3.2.1 Except for "at-will" Executive Management employees, employees in ;'exe1+1~t" ran9'9 cl;.ssificatigns serve a Probationary Period of six months and receive a comprehenslve performance evaluation at the end of that period unless otherwise provided in an individual, written employment agreement. 5.3.2.1.1 An employee who successfully completes probation is eligible for a salary adjustment according to the provisions of the Management Performance Review Program which is in force at the time of the review. 5.3.3 Reviews 5.3.3.1 An annual performance review is completed for all 8R1fill9y&es in "ex&R1filt" ran9s slai»sifkatigns according to the provisions of the Management Performance Review Program. 5.3.3.1.1 Performance-based salary adjustments for these employees occur on the first day of the first pay period in July. 5.3.3.1.2 If the employee's probation period has not concluded as of July 1, the performance based salary adjustment is deferred until the fGllg•fling !wly ar:i~ will employe~ ~uccessfully_ com2letes Q_ro~ation ~!!9 _!!lay be prorated based on date of hire or promotion. Page 2 of5 5.3.4. Promotions 5.3.4.1. An employee in 118K8R:1pt" rar:i9e gla&siq~tior:is who is promoted te a R&W '1exeR:1pt" rar:i9e Glassif4Gation will normally be offered a salary below the midpoint of the range that is commensurate with their level of training and expertise, prior earnings. 5.3.4.1.1 . The promoted employee's salary should be in an appropriate relationship to other employees in the same classification and to employees supervised. 5.3.4.1.2. The new salary will normally represent an increase of least 5.5 percent. 5.3.4.1.3. If the employee's probation period has not concluded as of July 1, the performance based salary adjustment is deferred until the fglfgwins Jwly and will employee successfully completes probation and may be prorated based on date of hire or promotion. 5.3.4.1.4. This section does not apply to "at-will" Executive Management employees. 5.4 Wew Local 501 Employees 5.4.1 Probation 5.4.1. 1 New employees in GlassifiGattons within &i:Rploye& bar:9ainif:l9 wr:iits gtt:aer: than the Profes&ioRal, ~1.1pervisory, i:~es1.1tive MaRagei::i:;ie1=1t ang MaRa9e~er:it Gr:o~~s who successfully complete their Probationary Period and are recommended for continued employment as regular employees, are eligible for consideration of a salary adjustment of up to one step (5.5%). 5.4.1.1 .1 This adjustment is effective on the first day of the pay period that follows the date of completion of the Probationary Period (normally 26 weeks). The salary review date for subsequent annual reviews is the first day of the first pay period following 26 weeks of continuous service and satisfactory completion of probation. 5.4.1.1.2 The Salary Review date for subsequent annual reviews is the first day of that pay period following the date when probation was successfully completed. Page 3 of5 5.4.2 Reviews 5.4.2.1 An employee iR a 9n~wp gtl:l&r tl:laR PrQfQssigr:aal, S1.1p&P1isgry a,:id ix&~wtive Maria9&l:R&Rt ar::id MaRa9&1+1&nt who is not at the top of the salary range for their position is eligible for consideration of an annual salary adjustment of up to one step (5.5%) on their Salary Review date, provided their performance satisfactorily meets expectations. 5.4.2.2 Annual performance reviews shall be completed on a form provided by the Director of Human Resources. 5.4.3 Promotions 5.4.3.1 An employee who earns a promotion is entitled to a promotional increase of at least 5.5%, or to the base of the new range, which ever is greater, upon the effective date of the promotion. 5.5 Y-Rating 5.4.3.1.1 If an employee has not successfully completed the promotional probationary period on their salary review date, any adjustment resulting from that annual review will be delayed until such time as the probationary period is completed. 5.4.3.1.2 A new salary review date is established for any promotion to a classification not in the Professional, Supervisory, Executive Management and Management Group. 5.5.1 If the duties and responsibilities of a position are allocated to a lower paid classification as a result of a classification study, the salary of the of the employee in that position shall remain unchanged (Y-rated) according to the following table: Years of Service 0-3 4-5 6-10 11 -20 21 or More Term of Y-rate One Year Two Years Three Years Four Years Five Years 5.5.2 The Y-rate remains in effect until the salary range for the new classification equals or exceeds the employee's Y-rated salary, or until the term of the Y-rate expires. Page 4 of 5 6.0 EXCEPTIONS 5.5.2.1 If the Y-rate expires before the employee's salary falls within the range of the new classification, the employee shall be placed GA the Gt&p at fhe maximum of the new range nearest but not more than the Y-rated salary. 5.5.2.2 Employees become eligible for merit increases and range adjustments when the Y-rate is no longer in effect. 5.5.2.3 An employee who requests a voluntary reduction is not entitled to a Y-rate. 5.5.2.4 This section does not apply to "at-will" Executive Management employees. 6.1 The General Manager is authorized to offer up to three (3) weeks of annual paid vacation to any prospective Executive Management employee if, in the judgment of the General Manager, such offer is necessary to attract the most qualified candidate. 6.1.1 The General Manager shall annually report all such appointments to the Board Subcommittee having responsibility for personnel matters. 9 1.2 Salary Qf:fers b8yQnd the i:i'lld~gint gf a range r:eq1o1lre ~rigr apprgi,1al by the 'd8neral Mana9er. 7.0 PROVISIONS AND CONDITIONS 8.0 RELATED DOCUMENTS (Attach salary range exhibits when available) Page 5 of5 Attachment 3 ~ Ora nge County Policy Number: c3o.o·o Sanitation District Effective Date: May 24, 2000 Subject: APPRAISAL OF Supersedes: October 22, 1997 PERFORMANCE Approved by: 1.0 PURPOSE 1.1 The purpose of this policy is to establish uniform guidelines and procedures for the appraisal of employee performance. 2.0 ORGANIZATIONAL UNITS AFFECTED 2.1 This policy applies to all current employees regardless of their organizational unit. 3.0 DEFINITIONS 4.0 POLICY 4.1 It is the District's policy and the District's management philosophy that establishing an effective level of communication that offers consistent and continuing feedback on performance expectations and achievements will provide an environment in which our employees can perform to the best of their abilities. A performance appraisal program has been developed to provide a structure that will support the accomplishment of that goal. Important principles of the program include: 4.1.1 The District's overall mission is enhanced by establishing a connection between that mission and individual employees' responsibilities and objectives. 4.1.2 Recognizing employee strengths and identifying areas that may represent opportunities for improvement will affect current performance as well as enhance career potential. 4.1.3 Every individual has primary responsibility for their own performance and development. 4.1.4 The key role of the supervisor is to support an employee's efforts to maximize their own contribution and potential. Pagel of2 5.0 PROCEDURE 5.1 New employees will receive a performance appraisal at the close of their initial probationary period to determine their suitability for continued employment wrth the District. An evaluation should also occur midway through the probationary period to ensure that performance expectations have been properly communicated and established. This will also offer an opportunity for both the employee and the supervisor to more effectively evaluate the desirability of continuing the employment relationship. 5.2 Employees who earn promotions should similarly receive a performance appraisal at the conclusion of the promotional probationary period. 5.3 An annual performance appraisal will be completed with each employee prior to their anniversary date. OCEA .. Professional, Supervisory, Management and Executive Management employees will receive a performance appraisal prior to any salary adjustment or merit bonus. 6.0 EXCEPTIONS 7.0 PROVISIONS AND CONDITIONS 7.1 Supervisors and managers will be notified by the Human Resources Department of all evaluations that must be completed at least 45 days in advance of the due date. 8.0 RELATED DOCUMENTS Page 2 of2 -ATTACHMENT 4 - @ Orange County Policy Number: 090.00 Sanitation District Effective Date: May 24, 2000 . Subject: TUITION REIMBURSEMENT Supersedes: October 22 , 1997 PROGRAM Approved by: 1.0 PURPOSE This program is designed to encourage self-development of District~employees by providing qualifying employees with tuition reimbursement for job-related educational courses at accredited colleges, universities, or other apprgi,i9g institutions approved by the Human Resources and Employee Development (HR & ED) Division. provided that such courses are primarily for the purpose of: • increasing capabilities in ~the employee's present positions-within the District • preparing for positions to which the employee could be reasonably expected to advance within the District • updating professional and/or technical capabilities that are pertinent and beneficial to the District 2.0 ORGANIZATIONAL UNITS AFFECTED T~is pgll"y apfilli&s to all Dislri"l's r&g1.1lar, f1.1U ti1+19 81+1plgy99e. This policy applies to all District employees who have completed their initial probationary period of employment and work more than 19 hours per week. This policy does not apply to temporary employees. 3.0 DEFINITIONS 3. 1 Qualifying Employees: re9Ylar, f1.1ll R1+19 All District employees who have completed their initial probationary period of employment and work more than 19 hours per week. 3,2 Regular ~uU th~e E111ph;l¥&e&; q1.1alify1R9 9i:;iploy9es, JJ.'RO t991"1arly "'o;k ar1 SQ l:lg~r. bil\'9iklY pav p9i:igg_ ~ Tuition Reimbursement: a program in Which qualifying employees who successfully complete District-approved courses, on their own tim e, at accredited colleges, universities or other appi:G119d institutions approved by the HR & ED Division, within the guidelines of this policy, can be reimbursed for eligible expenses incurred. a F9iFRbr.tFS8FR&Rt pro9raFR gfeligibl& e.xp&l=l&i fgr qwalifyii:ig &FRplgyess 'NRQ atter:ig, QR tl:lsir QWFI ti1+1e, DiGtrist apprQ'>'9Q "Qblfses al a"Gr:&'1it9d CQll999S, r.tRi>J8FSities, QF gtl:ler app~OVid IFl&tit1o1ti9AS gf tRi 8FRpl9)'98S' Gh99SiF19. 4.0 POLICY The District will reimburse employees who successfully complete educational courses that serve the mission and goals of the District at the sole determination of the District a.t. aGci::e~itid ir1stiMi9Rs in compliance with Ssctlgr:1 1,g "Pl.IRPOSe,'' this policy provided tl:lat tl:le i:9iFRb1o1rs9FR8t:1t is witRiA tl:l9 ir:idi11id1o1al ri::iaxl1+11o1FR iiFld Q~&rall l11+11ts gf tt::ie Page 1 of5 a1:i1tRor42eg twitigR 'ei~liiloli:&eR1e~t lii"'gg:et based upon the number of hours ~orked per Week as follQWS. HOURS OF WORK PER WEEK PERCENT OF REIMBURSEMENT 0-19 NOT ELIGIBLE -0% 20-29 50% 30-39 75% 40 100% 5.0 REQUIREMENTS 6.0 5.1 Employees can be reimbursed for the following· • Specific, job-related associate, baccalaureate, and graduate degree programG-Courses. • Specific, job-related courses through accredited colleges or universities • Specific, job-related courses offered through an apprgveg institution of study approved by the HR & ED Division The Division Manager is responsible for determining whether or not the course is •jotrrelated." 5.2 When an employee successfully completes l::iae '1gmpleterol &dl'1R pr& appi:gv8'1 a course with a grade of ''C" or better fGr 1:i11=1(;!er9rag1:i1ate gr "Q" gr bett.&r fgr 9raQ1.Jate \VQrk and within the guidelines of this policy, the District will reimburse the employee tt::ie GQ&t gf for eligible expenses incurred, based on the number of hours worked per week, ~iti9R , gggks, ;;ii::id r9qyired fees not to exceed $5,250 per calendar year. Examples of eligible and ineljgible expenses are: Eligible Expenses Ineligible Expenses • Tuition . Appllsatii;ai::1 fG9s . Re~i.Jir&fiil te>C$Qgg~ '198*& • Mat8rie1I fe9s • Registration fees • Travel • Laboratory fees • Optional student fees • Parking fees • Doctoral dissertation fees • Health fees • Masters thesis fees • Application fees • Supplemental textbook costs • Required textbooks and • Supplies and materials used materials per the course for the course and retained by syllabus the employee after cours~ • Supplies required per the completion (i.e., paper, course syllabus not to pencils, notebooks, diske.ttes, exceed $1()0.0Q_ per etc.) course • Graduation or diploma fees PROCEDURE 6, 1 To participate in the Tuition Reimbursement Program, employees must submit a completed Tuition Reimbursement Application (attachment A) and a copy of the course description whicfl includes the course cost, course start/end date, and number of units for each course to t11e HR & ED Division NO LATER THAN one day prior to the course start date. • Tuition Reimbursement Applieations received in the HR & ED Division on ot after the 90urse start date _w/11 not b_e approved~ Page 2 of5 6.2 The HR & ED Director {or designee) will sign completed applications. A copy of the approved application will be mailed interoffice to the employee to be re-submitted upon course completion. 6.3 Incomplete applications will be returned to the employee with explan~ition(s) attached. 9 4 1 1 Prigr tg tl:le start gf a sgwrse gr ge9ree prg9i:ar:i:i, swbi:Aits lg tl:le edwsatigr:i aRd Tr;ajRiA9 Oi1,11sigR fQr tl:le S8R=l9Ster gr 'Jl.laFter, a TwifigR Reir:R91:1r:sef;J&RI P-1:9 App;gva./ l\pptlsatigR witl:I ~estigr:is 1, 2 ai:i9 J (Uat:1a9er's Re11iew aRd Pre A.pprgvalj t;;gr;ipleted, Ngta; AIU:igw9l:I r:igt reqwired, it ls advisa~le tg s1i19R:iit tl:le GQFRpleted applisatigr.i prigr tG re9isterir.i9 fgr tl:le sgwrse gr prggraR=i sg tl:lat apprg>Jal sar.i be deteri;;iiR&d befgre th& &R1plg:yee im:wi:s ar.i,r exr;i~H:ises, 6A.1 .2 If se&kiRg pre apprgval fgr sgwrses iR a degree prggi:ai=R, sYbi=Rit a list gf appr:Gt.~d sgwrses prepai:ed by tl:le ssl:iggl aRQ si9Red by tl:le eR=iplgyee's advisgr at tl:le bs9iARiR9 gf tl:le prggrar::R. SwbR:iit tl:lis list wlU:i tl:le ir:iitial TwiUQR Reim91:1.r:s9f;JfN:lt PffJ AfJfJFGVal App/-isatfgR, eA.2.2 If ir:isgR:lplete, rewrµs tl:le applisatigR tg tl=ts ei::Rpl9)1ee witl:l a ~tatws fGri=R iRdisalii:i9 the dat& tnat the eFAplgyee i:i:i1i1st sgrre1Wt aRd ret1i1rn tl:le applisatigr:i tg U:le ~d1.1~tigR am~ TraiRiRg Oivi&i9R .. 9.<L2.J If apprgu9g, si9RS tl:le Tuttigr;i ~Qir+JGb/CSQ~81=1f Q(9 C..fJfJf..QW~I .4,pf:}lisatif>.R aRQ fQrwards a sgpy gf th& applisatlgR dlRd a TuifilgQ R91R:l"l.lf:S9~9r:lf Aflf}JisatigR tg th& 91=Rplgy99_ 6.4.2.4 If thA •ppllbiiltiQ.R lliO RQt apprg11Qd, J:QfUl+lliO thg ;;ipp,llG;,li':in tg tb'i er:Rplgyee with a Sbt1.1s WFR=I iRd1'7atl1=19 tl:ie r&asgr:1(s) fGr RQR apprgval. 6.5.1 Upon course completion. the employee must complete and submit a Request for Tuition Reimbursement (attachment B) along with (1) an official record of the final grade. (2) itemized receipts for eligible expenses, (3) a copy of the course syllabus (if requesting reimbursement far required textbooks, materials and/or supplies) and (4) a copy of the original approved Tuition Reimbursement Application for each course to the HR & ED Division within 60 calendar days following the course end date. 6.5.2 \AAU1iR 90 baler:idar days fQllgwir:ig the e1=1d gf tl:le ~gwrse(~. iRe &i=Rplgye& ~1.1bi:i:iits tl:le Tuiti9R R&iJ:RPl.lr&&l+l&Rt ~&RS& RepQ# .C..fJfJ!isalif>.R witl=t S9Gtfgr:i 1 G9FApleted tg tl:le edW6dltiQR dlRQ TrdliRiRg Oi1,1iG1QR wllR tl:l& fQllgw1Rg dgb1.1i:i:iet:1ts attasl:ied; Page 3 of5 • Requests for Tuition Reimbursement received in the HR & ED Division more than 60 c!ays after the course end date will not be approved. 6.5.3 The HR & ED M~nager (or designee) will sign completed requests. Copies of the approved request will be mailed interoffice to the employee and submitted to the Accounting Division for reimbursement. 6.5.4 Incomplete requests will be returned to the employee with explanation(s) attached. 7 .0 EXCEPTIONS g 5 ~ '1 R9\'i9W& tl=l9 "fujtig(-1 R9iffi.Qu.cs9r:R9Rt A~Jisaii~ ai:ig 3tbGR9Q El9GWR:l9Rbtigi:i, i 5 5.2 If ir)r;;gr:i;ipl9t&1 rehs1FR& tRe appliGa,iQi:i tg u.19 9r::Rplgyee witl~ a Sbtwi; fQrr+i im~i•atiR9 tRe gat9 tt.:lat tl49 9rRplgyee R=llol6l sgrreGt aRd retwr;i;i tt.:le appli•atigi:i t9 tf.:19 E°GwGatigi:i aAQ Ti=aiRit:19 Qjui&i9R, 6.5 5,a If apprg119d , si9R& tt.19 appliGatigri aRd fQr:wai:gs tt.:le appi:9119d apphGat!QR tg tl:l8 AGr;;Q~Rtir:i9 0M&i9R a1=1d a Qgpy ~ lt.19 eFRplg'/98 lr:ldlr;;;u;:ig t91r:t::ibursi1+19nt statu&. 6.5.5.4 If tt.:19 appliGatigi:i is RQt app~ved, i:9twri:is tt.:18 applkatigi:i tg tP.e e1+1plgy99 '*'itl:I a Statws kili:r:i;i iAdkatli:ig tl:I& r8a&9R(&) fgr RQR apprg\laL 7.1 If an employee terminates employment or gives notice of termination prior to the completion of a course, no reimbursement will be made. 7. 2 This policy does not apply to temporary employees. 7.3 E:ri::iptgy99s will ROt be F9li:Rbwr&9d fQr twitiQR GQ&tG GQ¥9r9d YRQQF \/&teraR6 •4 dr:i;iii:iistratlgr:i Progi:ari::is gr gtf.:ler 9gv&rRi=R9Rt spg.i:isgred pro9rar:i;is 7.3 Reimbursement may be authorized whenever the employee's manager and HR & ED Manager (or designee) determine that there is substantial benefit to be derived by the District when an employee takes a course gr p~grarR that does not meet the requirements of SeGtigr:i 9 1, fQr exar:i;ipte, Gowrs&s fGr iri::ipaGted oi: trar:isitior:ial er:i;iplgye&s aF1d/gr flQFl Gredit sowrses this policy'. 8.0 PROVISIONS AND CONDITIONS 8. 1 AR 9r:Rpl9;'98 >irRQ rer;;ei\'96 payi=R9Rt& fg,: Jgri:i:ial GQWFG9 wgrk tl:li:gw9R tA9 Twitlg~ R&iri:ibwrser:R8Rt Progi:ar:i;i "'111 be reqwired t9 re1r:i;ibwr&9 U;i9 Distrist if tR8 erRploy99 "91wRtarily lea"9& tl:le Oistr1Gt's &r+iployrriei:at wiU:11i:i twg yeai:s gf GOr:Rpl9tiRg tR9 GOblf&Q work. TR9 'd9R8ral Ma1=1ag8F, wr:ider WRW&wal bir~wr:r:asbRG&5 gr g~ ·dR 1ndi>1id~:al basis, r+tay wai'JQ tbQ r9pay"1&Rl f9GJWit:eM&At Page 4 of5 8.2 Tuition Reimbursement Applications received in the HR & ED Division on or after the course start date will not be approved. 8.3 Reques1s for Tuition Reimbursement received in the HR & ED Division more than 60 days after the course end date will not be approved. 8.4 All funds received by an employee under this program Within a twehie-m'onth· period prior to the date of voluntary termination of employment with the Oistriet' shall be repaid by the employee. · " 8.2 Reimbursement will be at the discretion of the District provided the employee meets the criteria specified in this policy. 9.0 RELATED DOCUMENTS 9.1 Fair Labor Standards Act, as amended. 9.2 Sections 127 and 132-J8 of the Internal Revenue Code. 9.3 Tuition .Reimbursement AppHcati9ti~(attachme~f A) 9.4 Request for Tuition ReJ~!>ursemeDf(~tta~hm!!IJt..~J. Page 5 of5 Orange County Sanitation District TUITION REIMBURSEMENT APPLICATION To participate in the Tuition Reimbursement Program, the employee must complete and submit a Tuition Reimbursement Application (this form) and a copy of the course description Which includes the course cost, course start/end date and number of units for each course to the Human Resources and Employee Development {HR & ED) Division NO LATER THAN one day prior to the course start date. REQUESTS RECEIVED ON OR AFTER THE COURSE START DATE WILL NOT BE APPROVED. 1. Employee Name; ___________________ Division; ____ Extension: ___ _ 2. Employment Status: 0 0 0 Regular, full-time Temporary Contract 0 0 Part-time ( # of hours per week: ___ _, Probationary (probation ends [month/year]: ___ ) 3. Normal Work Schedule (indicate days of week and hours of work):-------------------- 4. Name and location (city, state) of College, University or Institution of Study: ________________ _ 5. Do you expect to receive any other type of Tuition Assistance? D YES D NO 6. COURSE INFORMATION: COURSE COURSE TITLE UNITS ESTIMATED START END START END NUM BER COSTS DATE DATE TIME TIME 7. Degree Program? 0 YES If yes, indicate type of degree and field of study -------------- 0 NO lfno, indicate reason for taking course ---------------~ By signing this application, 1 understand that upon successful completion of the course indicated above, the District will reimburse the associated costs in accordance with Policy 090.00 of the Human Resources Policies and Procedures Manual. Should I voluntarily terminate my employment with the District, I agree to repay the District any funds received under this program within the twelve-month period prior to the date ofrny voluntary termination. I expressly agree to repay the District one- twelfth (1112) of the amount owed every month for a total period of twelve (12) months commencing on the month fo llowing the month of my voluntary termination. If the amount owed is less than $200.00, I expressly authorize the District to deduct the entire amount due from my final paycheck. Employee Signature:-------------------------Date: -------- By signing this application, I agree that the course indicated above is mission specific and/or job related. Division Manager's Approval Signature:-------------------Date: ________ _ FOR OFFICE USE ONLY D Your application for reimbursement has NOT been approved, Explanation(s) attached. D Your application for reimbursement has been APPROVED. A blank Request for Tuition Retmbursement form is attached. HR & ED Director (or designee) Signature: ----------------Date:------ ATTACHMENT A Orange County Sanitation District REQUEST FOR TUITION REIMBURSEMENT II Upon course completion, the employee must complete and submit a Request for Tuition Reimbursement (this fonn) along with an official record of the final grade, itemized receipts for eligible expenses, a copy of the course syllabus (if requesting reimbursement for required textbooks, materials or supplies) and a copy of the original approved Tuition Reimbursement Application for each course to the Human Resources Employee Development (HR & ED) Division within 60 calemltu duvs following the course end date. LATE REQUESTS WILL NOT BE APPROVED. 1. Employee Name: ______________ Division: ____ Extension: ___ _ 2. COURSE INFORMATION: COURSE COURSE TITLE ACTUAL START END NUMBER COSTS DATE DATE 3. ALL of the following eligible expense documents are attached: D Official Record of fioal grade(s) D Receipt(s) for tuition and eligible fees DA copy of the course syllabus (if requesting reimbursement for required textbooks, materials and/or supplies) 0 A copy of the original approved Tuition Reimbursement Application 4. I request reimbursement in the amount of$ _____ _ By signing this request, I understand that the District will reimburse the associated costs for the course indicated above in accordance with Policy D90.00 of the Human Resources Policies and Procedures Manual. Should I voluntari ly tenninate my employment with the District, I agree to repay the District any funds received under this program within the twelve-month period prior to the date of my voluntary termination. I expressly agree to repay the District one-twelfth (I /l 2) of the amount owed every month for a total period of twelve ( 12) months commencing on the month following the month of my voluntary tennination. If the amount owed is Jess than $200.00, I expressly authorize the District to deduct the entire amount due from my final paycheck. Employee Signature: ___________________ Date: _______ _ FOR OFFICE USE ONLY D Your Tuition Reimbursement Request has NOT been approved. Explanation(s) attached. 0 Your Tuition Reimbursement Request been APPROVED in the amount of$ and forwarded to the Accounting Division on , reference#: ___ _ HR & ED Director {or designee) Signature:-----------Date: ------ ATT AC HM ENT B II FAHR COMMITTEE Meeting Date . 5110/00 AGENDA REPORT Item Number FAHR00-39 Orange County Samtat.ion D1stnct FROM: Lisa Tomko, Acting Director of Human Resources Originator: Dawn McKinley, Senior Human Resources Analyst SUBJECT: CREATE THREE NEW CLASSIFICATIONS AND CHANGE THE TITLE OF ONE CLASSIFICATION GENERAL MANAGER'S RECOMMENDATION Adopt Resolution No. OCSD 00-_, Amending Resolution No. OCSD 98-33, Amending Human Resources and Policies Procedures Manual, providing for: ( 1 ) Create Accounting Supervisor classification at pay range E 11 ($60,828-$86,064); (2) Create Human Resources Supervisor classification at pay range E11 ($60,828-$86-064); (3) Create Lead Pump Power Operator at pay range 2015 ($47,285- $58,883); and, ( 4) Change the title of Senior Plant Operator to Lead Plant Operator. SUMMARY From time to time, adjustments need to be made to a classification structure. As new duties and responsibilities are identified as critical to the mission of the organization, new classifications must be added or titles must be changed. Staff has identified four adjustments that need to be made to the classification structure. The proposed structure adjustments will not result in any individual salary increases. The recommended modifications are as follows: 1. An Accounting Supervisor classification be created at pay range E11 ($60,828-$86,064). A supervisory level classification is needed to supervise the day-to-day activities of the Accounts Receivable staff. The average market rate for an Accounting Supervisor, according to the 1999/2000 Watson Wyatt Data Services Salary Survey, is $71 ,800. The midpoint, or market reference point, of pay range E11 is $73,452. The E11 midpoint is 2.3% above market, however, the E10 pay range midpoint is $69,900 which is 2. 7% below market. The E11 pay range was chosen because it is closer to the actual market rate. Please see the attached classification description, Attachment 1. H:\wp.dtalagenda\FAHRIFAHR:l.000'.2000 Agenda Reports\FAHRQ0.39.doc RtMsed: 8l20l98 Page 1 To Bd. of Dir. 5124100 Item Number 2. A Human Resources Supervisor classification be created at pay range E11 ($60,828-$86,064). Currently, the Director of Human Resources is the only supervisory/management level classification in the Human Resources department. A supervisory level classification is needed to supervise the day- to-day activities of the Human Resources staff and to provide technical support to other departments. The average market rate for a Human Resources Supervisor, according to the 1999/2000 Watson Wyatt Data Services Salary Survey, is $73,500. The midpoint, or market reference point, of pay range E11 is $73,452. Please see the attached classification description, Attachment 2. 3. A Lead Pump Power Operator classification be created at pay range 2015 ($47,285-$58,883). The Senior Operations Supervisor position in the Pump Power division was eliminated earlier this year. The Pump Power division will move from Operations to Maintenance later this year. A Lead level classification is needed to ensure that an effective reporting structure is maintained as the Central Generation division is moved from Operations to Maintenance. The incumbent of the Senior Operations Supervisor position earned an annual salary of $7 4,836. This lead position, therefore, reduces the payroll cost from $74,836 to approximately $53,084 resulting in an annual savings of $21 ,752. This classification is comparable in duties and pay level to the Lead Electrical Technician and Lead Instrumentation Technician classifications at pay range 2015 ($47,285-$58,883). Please see the attached classification description, Attachment 3. 4. Change the title of the Senior Plant Operator classification to Lead Plant Operator to maintain consistency between the Plant Operators Series and the Pump Power Operators Series (see recommendation number 3 above). A pay range adjustment is not requested as the duties and responsibilities of the classification will remain the same. This action will change the title only. Human Resources Policy C10.00, Exhibit A, Salary Schedule, has been updated to reflect the proposed modifications and is attached for review and acceptance as Attachment 4. PROJECT/CONTRACT COST SUMMARY NIA H:\wp.dtalagenda1FAHR\FAHR2<M»2000 Agenda Repo<l$\FAHRC0-39.doc: Rlllliaed: 8120198 Page2 BUDGET IMPACT D D ~ 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) ADDITIONAL INFORMATION NIA ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS 1 . Accounting Supervisor classification description. 2. Human Resources Supervisor classmcation description. 3. Lead Pump Power Operator classification description. 4. Human Resources Policy and Procedure C10.00, Exhibit A, Salary Schedule. H:\wp.dta\agenda\FAHRIFAHR200().2()0() A{lenda Repor1s\FAHR00.39.doc R8'ioed~ 81201911 Page3 RESOLUTION NO. OCSD 00- AMENDING RESOLUTION NO. OCSD 98-33 A RESOLUTION OF THE BOARD OF DIRECTORS OF ORANGE COUNTY SANITATION DISTRICT AMENDING HUMAN RESOURCES POLICIES AND PROCEDURES MANUAL The Board of Directors of Orange County Sanitation District, DOES HEREBY RESOLVE, DETERMINE ANO ORDER: Section 1: Exhibit u A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. C10.00, Classifications, Positions, Salary Ranges and Wages, set forth in Attachment No. 1, attached hereto and incorporated herein by reference. Section 2: That all other terms and conditions of Resolution No. OCSD 96-33 shall remain in full force and effect. Section 3: That all future amendments to Resolution No. OCSD 98-33 be made by Resolution. PASSED AND ADOPTED at a regular meeting held May 24, 2000. ATIEST: Board Secretary H:lwp.dbl"'9endalFA.HRIFAHR2000\2000 Agenda Reports\FAHRC0-3'1.doc Ri!Msed: 8/20l98 Chair Page4 Attachment l No. 1205 Date: 5/24/00 Revised; ORANGE COUNTY SANITATION DISTRICT Approved: CLASSIFICATION DESCRIPTION Title: Accounting Supervisor Distinguishing Characteristics Under general supervision, provides specialized or general analysis support while supervising the activities of various accounting functions such as Accounts Payable, Accounts Receivable, Payroll, General Ledger, etc. Performs accounting duties of a complex nature requiring advanced professional experience, knowledge and competency in accounting theory and principles. Prepares difficult journal entries and reconciliations. May be responsible for the maintenance of a complete set of accounting records for a functional area. Provides interpretation of accounts, methods and records for management. Example of Duties Supervises professional accounting staff and/or support staff involved in various accounting functions such as AP, AR, Payroll, and General Ledger. Plans, schedules and reviews work of staff. Establishes performance criteria and production requirements. Hires, trains, evaluates and disciplines staff. Compiles data for and prepares budget estimates for the current year and recommendations for the next year for the Joint Operating budget and the individual Revenue Area Operating budgets, taking into consideration actual and estimated expenses. Performs general ledger analyses, including analyses of quarterly expenses and explaining variance from budget and prior year figures. Reconciles various asset, liability and expense accounts in the General Ledger. Oversees and administers the Revenue functions of the District including invoicing, collections, daily cash deposits, the User Fee/Reconciliation Program and the Sewer Service Fee Program. Reviews and approves any adjustments to original invoices. Oversees the reconciliation of Accounts Receivable. Invoices Wastehauler charges, Industrial Use charges and Retiree Premium charges. Administers the collections of delinquent accounts and administers permit violations. Oversees and administers the Accounts Payable function ensuring that all invoices are paid in accordance with board authority, policies and procedures. Administers invoice reimbursement agreements to ensure that local agencies and others are billed for the share of work completed in accordance with contracts. Oversees the activities of the Payroll function, ensuring accuracy and timeliness of processing the Dislrict's payrolL Page 1 of2 No. 1205 Date: 5/24/00 Revised: ORANGE COUNTY SANITATION DISTRICT Approved: CLASSIFICATION DESCRIPTION Title: Accounting Supervisor Minimum Qualifications Bachelors Degree in Accounting or related field. Five years of experience in Accounting, including accounts receivable, accounts payable, and payroll, preferably in a government environment. Must be able to demonstrate the ability to supervise professional and support staff. Knowledge of accepted governmental accounting theory, principles, and practices. Strong verbal and written communication skills. Excellent analytical and computer skills, including proficiency with PC spreadsheet, database and word processing software. Experience with JOEdwards World or OneWorld financial information system is a plus. License or Certificate Required None \\radon\data1\wp.dta\hr\510\mckinley\ClassDescriptlons\FINANCE\acctgsupv.jD.doc Page 2of2 Attac nmenc L. No. 8110 Date: 5/24/00 Revised: ORANGE COUNTY SANITATION DISTRICT Approved: CLASSIFICATION DESCRIPTION Title: Human Resources Supervisor Distinguishing Characteristics This is the supervisory classification in the Human Resources Series. Incumbent assists the Director of Human Resources in determining division objectives, supervises staff involved in Human Resources administration, and provides technical support to other departments. Incumbent receives administrative direction from the Director of Human Resources. Work is reviewed at the completion of assigned projects to determine if overall results and objectives have been achieved. Example of Duties Supervises professional and support staff involved in the administration of Human Resources activities including benefits, employee relations, human resources information system, employment and employee services. Plans, schedules and reviews work of staff; establishes performance criteria and production requirements; and hires, trains, evaluates and disciplines staff. Develops, implements and administers Human Resources policies and procedures. Assists in the development of short and long range Human Resources plans. Participates in the development of the Human Resources department budget. Develops and administers programs designed to establish and maintain effective employee relations through the uniform and equitable application of District's policies and procedures. Investigates employee relations issues and recommends appropriate actions to address and resolve these issues. Counsels with and advises employees of available assistance in the treatment and resolution of job related or personal problems. Participates in exit interviews and grievance procedures. Supervises the administration activities, including maintenance of employee records; processing employee status change forms; preparing reports and statistical summaries; and responding to credit and reference inquiries on active and terminated employees. Prepares reports, memorandum and correspondence and makes presentations to District employees, including management, regarding Human Resources administration. Page 1of2 No. 8110 Date: 5124100 Revised: ORANGE COUNTY SANITATION DISTRICT Approved: CLASSIFICATION DESCRIPTION Title: Human Resources Supervisor Minimum Qualifications Bachelors Degree in Human Resources, related field, or equivalent experience. Five years of experience designing, implementing and administering policies and procedures in the areas of employee relations, employment and employee benefits. Must be able to demonstrate the ability to supervise staff involved in the administration of Human Resources activities as well as the ability to analyze and interpret Federal and State laws and regulations regarding Human Resources management. Ability to prepare clear and concise documents regarding training programs and communicate effectively, both orally and in writing. License or Certificate Required None. H:\wp.dta \hr\51 D\mckinley\ClassDescriptions\HR\hrsupv .jD .doc Page 2 of 2 .B:t: t: a C Ulll~ U l. .) ORANGE COUNTY SANITATION DISTRICT CLASSIFICATION DESCRIPTION Title: Lead Pump Power Operator Distinguishing Characteristics No. 5120 Date: 5124100 Revised: Approved: This is the senior level classification in the Pump Power Operator series. Incumbents report directly to the Supervisor of Central Generation facilities. Incumbents are assigned to larger and more complex duties and provide technical direction and training to less experienced personnel involved in the · operations, light maintenance and repair of the power plants and associated eq uipment and systems. Includes responsibility for the generation of electrical power, light maintenance activities, and inspection of the methane gas engine generator sets and auxiliary equipment. This position is also a floater position and as such is subject to assignment to cover vacant shifts at both plants as needed. Work is reviewed periodically for soundness of technical judgment and to determ ine if overall facility objectives have been achieved . Example of Duties Provides technical direction including assessment of performance of Pump Power Operators involved in the operation, inspection and light maintenance of power plant equipment and associated systems. Reviews work orders for work to be performed~ coordinates work among less experienced personnel and provides technical and safety training to Pump Power Operators. Generates and distributes 12,000 volt power throughout the wastewater treatment plant by operating and maintaining internal combustion engines, steam turbine generators, chiller refrigeration and air conditioning systems, energy steam systems and auxiliary support and safety equipment such as pumps, compressors, fans, valves, filters, equipment drives and motors. Operates standby generators to generate electrical power in emergency situations according to utility power. Monitors and controls distribution of electrical power throughout the plant by either making manual adjustments to equipment or by operating computer control systems designed to monitor trends and start and stop engines, pumps and electrical switchgears. Monitors the M-SCADA software program designed to control and monitor the electrical system. Performs routine preventative maintenance on power generation equipment such as cleaning air filters, adjustment packings, scheduling repairs and monitoring vibrations, chemicals and oil. May perform emergency repairs on power generation equipment, as directed, or assist other divisions with repairs. Operates switchgears and performs isolations, shut-downs, tag out and start-ups of power generation equipment before and after testing, maintenance and emergency repairs. Page 1of2 ORANGE COUNTY SANITATION DISTRICT CLASSIFICATION DESCRIPTION Title: Lead Pump Power Operator Example of Duties (conl) No. 5120 Date: 5124100 Revised: Approved: Monitors, controls and records water, oil and air pressures, temperatures, flows, gas levels and test results by reading meters, gauges, charts and instruments. Completes daily operating logs of routine and unusual operating or maintenance conditions encountered and any repair work performed. Initiates work orders, memos and requests for maintenance repairs . Gathers power and heat data for Monthly Summary of Operations and prepares special reports as required. Maintains work area to ensure safety and order; picks up , receives, stores and inventories supplies; may operate electric crane to lift equipment and supplies. Minimum Qualifications Four years of experience in the operation and maintenance of electrical power generation equipment such as gas engines, pumps and compressors, with at least two of those years at the Pump Power Operator level. An advanced knowledge of electrical power generation principles, methods, tools and equipment, safety procedures, testing procedures, chemicals and regulatory requirements. Know how to perform basic mathematical calculations sufficient to record daily readings and know how to operate test equipment such as computer combustion analyzer, computer vibration analyzer, dial indicator and flow balance indicator. Ability to record data regarding power generation performance and communicate, both orally and in writing. Must be willing to work shifts, weekends and holidays. License or Certificate Required Possession of a valid California class C driver's license. H:\wp.dta\hr\510\mckfnley\ClassDescriptions\OPS\lead pump operator.jD.doc Page 2 of2 Attachment 4 l\llAOO Sfl4Kl0 Orange County Sanitation District Classifications By Employee Group Administrative and Clerical Exhibit A Pay Range Minimum Maximum Classifications FLSA Status NEB 44,809 58,182 Information Services Technician Ill Non-Exempt NE7 42,301 55, 195 Financial Technicfan Non-Exempt NE7 42,301 55, 195 Graphics Coordinator Non-Exempt NE6 38,501 50,155 Senior Storeskeeper Non-Exempt NE6 38,501 50,155 Adminlstrat.rve Assistant Non--Exempt NE6 38,501 50, 155 Graphics Services Assistant Non-Exempt NE6 38,501 50, 155 Information Services Technician II Non-Exempt NE4 33,BOO 44,027 lnfo~mation Services Technician 1 Non-Exempt NE4 33,800 44,0Z7 Secretary Non-Exempt NE3 31 ,651 41,001 Senior Accounting Clerk Non-Exempt NE3 31,651 41,001 Senior Office Aide Non-Exempt NE3 31,651 41 ,001 Storeskeeper Non-Exempt NEZ 29,800 38,750 Accounting Clerk Non-Exempt NEZ 29,800 38,750 Office Aide Non-Exempt NEZ 29,800 38,750 Office Specialist Non-Exempt NE1 23,250 30,164 Storeskeeper Assistant Non-Exempt NE1 23,250 30,164 Technical Services Assistant Non-Exempt AttAD1l 5124/00 Orange County Sanitation District Classifications By Employee Group Engineering Pay Range Minimum Maximum Classifications FLSA Status NE9 49,001 63,611 Senior Construction Inspector Non-Exempt NE9 49,001 63,611 Engineering Associate Non-Exempt NEB 44,809 58,182 Construction Inspector Non-Exempt NE7 42,301 55,195 Engineer Aide Ill Non-Exempt NE5 36,200 47,066 Engineering Aide ti Non-Exempt NE4 33,800 44,027 Engineering Aide I Non-Exempt AllAO<l .. l.124/00 Orange County Sanitation District Classifications By Employee Group Technical Services Pay Range Minimum Maximum Classlflcatlons FLSA Status NE8 44,809 58,182 Environmental Specialist II Non-Exempt NE8 44,809 58, 182 Source Control Inspector II Non-Exempt NE8 44.809 58,182 Senior Laboratory Analyst Non-Exempt NE6 38,501 50,155 Environmental Specialist I Non-Exempt NE6 38,501 50,155 Laboratory Analyst Non-Exempt NE6 38,501 50.155 Source Control Inspector I Non-Exempt NE4 33,800 44,027 Source Control Technician Non-Exempt A11AOO 5124/00 Pay Range NE7 NE6 NE6 NE6 NE2 Minimum 42,301 38,501 38,501 38,501 29,800 Orange County Sanitation District Classifications By Employee Group Confidenti al Maximum Classifications 55, 195 Executive Assistant II 50, 155 Administrative Assistant 50, 155 Human Resources Assistant 50, 155 Principal Accounting Clerk 38,750 Office Specialist FLSA Status Non-Exempt Non-Exempt Non-Exempt Non-Exempt Non-Exempt AllAOO 5/Z41CO .. Orange County Sanitation District Classifications By Employee Group Operations and Maintenance (501) Pay Range. Minimum Maximum Classifications FLSA Status 2015 47,285 58,883 Lead Electrical Technician Non-Exempt 2015 47.285 58,883 Lead Instrumentation Technician Non-Exempt 2015 47,285 58,883 Le~d Pump Power Operator Non-Exempt ... ..-.. .. 2014 44,778 55,748 Electrical Technician II Non-Exempt 2014 44,778 55,748 Instrumentation Technician ll Non-Exempt 2013 43,258 53,868 Lead Mechanic Non-Exempt 2013 43,258 53,868 Pump Power Operator Non-Exempt 2013 43,258 53,868 Le~d Plant Operator Non-Exempt ~ ~ ~ SeRlor f!f3Rt O!i*l>ill9f f>lgi:i li1<9~pt 2012 41 ,812 52,060 Lead Collection Facilities Worker Non-Exempt 2012 41 ,812 52,060 Lead Worker Non-Exempt 2012 41,812 52,060 Machinist Non-Exempt 2011 39,304 48,949 Senior Mechanic Non-Exempt 2011 39,304 48,949 Welder Non-Exempt 2010 39,040 48,612 Equipment Operator Non-Exempt 2009 37,979 47,285 Builder Non-Exempt 2009 37,979 47,285 Electrical Technician I Non-Exempt 2009 37,979 47,285 Instrumentation Technician I Non-Exempt 2008 37,737 46,9/3 1-'lant Operator Non-Exempt 2007 34,505 42,969 Electrical Maintenance Worker Non-Exempt 2007 34,505 42,969 Instrumentation Maintenance Worker Non-Exempt 2007 34,505 42,969 Painter Non-Exempt 2007 34,505 42,969 Senior Maintenance Worker Non-Exempt 2007 34,505 42,969 Senior Collection Facilities Worker Non-Exempt 2006 33,590 41 ,812 Mechanic Non-Exempt 2005 31,348 39,040 Collection f acilities Worker II Non-Exempt 2005 31,348 39,040 Maintenance Worker Non-Exempt 2004 30,938 38,509 Operator In Training Non-Exempt 2003 29,875 37,207 Groundskeeper Non-Exempt 2002 29,490 36,700 Control Center Clerk Non-Exempt 2001 24,184 30,093 Collectlon Facilities Worker I Non-Exempt 2000 22,882 28,502 Helper Non-Exempt AMOO 512~/00 Orange County Sanitation District Classifications By Employee Group Professional Pay Range Minimum Maximum Classlficatlons F!,..SA Status E14 $70,380 $99,600 Chief Scientist Exernpt E13 $67,128 $94,932 Assistant to the General Manager Exempt E.13 $67,128 $94,932 Senior Engineer Exempt E1 2 $63,948 $90,468 Senior Scientist Exempt E1 2 $63,948 $90,468 Senior Regulatory Specfalist Exempt E11 $60,828 $86,064 Engineer Exempt E11 $60,828 $86,064 IT Strategic Implementation Leader Exempt E10 $57,852 $81,948 Secretary to the Board of Directors Exempt E9 $55,212 $78,156 Principal Administrative Analyst Exempt E9 $55,212 $78, 156 Principal Engineering Associate Exempt E9 $55,212 $78,156 Project Specialist Exempt E9 $55,212 $78,156 Regulatory Specialist Exempt E9 $55,212 $78,156 Scientist Exempt E9 $55,212 $78, 156 Principal Accountant Exempt E9 $55,212 $78,156 Principal Financial Analyst Exempt E9 $55,212 $78,156 Senior Human Resources Analyst Exempt ES $52,500 $74,292 Associate Engineer Ill Exempt EB $52,500 $74,292 Principal Environmental Specialist Exempt EB $52,500 $74,292 Safety & Emergency Response Specialist Exempt E7 $50,064 $70,848 Programmer Analyst Exempt E7 $50,064 $70,848 Computer Hardware Specialist Exempt E7 $50,064 $70,848 Telecommunications Specialist Exempt E7 $50,064 $70,848 Maintenance Planner Exempt E7 $50,064 $70,848 Contracts Administrator Exempt E6 $47,640 $67,392 Principal Laboratory & Research Analyst Exempt E6 $47,640 $67.392 Senior Administrative Analyst Exempt E5 $45,396 $64,212 Associate Engineer II Exempt E5 $45,396 $64,212 Senior Accountant Exempt ES $45,396 $64,212 Senior Financial Analyst Exempt E5 $45,396 $64,212 Human Resources Analyst Exempt E5 $45,396 $64,212 Senior Environmental Specialist Exempt E4 $43,248 $61 ,236 Safety Representative Exempt E4 $43,248 $61 ,236 Programmer Exempt E4 $43,248 $61.236 Senior Buyer Exempt E3 $41,136 $58,260 Associate Engineer I Exempt E2 $39,252 $55,488 Contracts Specialist Exempt E1 $37,284 $52,908 Accountant Exempt E.1 $37,284 $52,908 Buyer Exempt E1 $37,284 $52,908 Financial Analyst Exempt E1 $37,284 $52,908 Management Analyst Exempt AMOO 512•100 Orange County Sanitation District Classifications By Employee Group Supervisory Pay Range Minimum Maximum Classifications FLSA Status E14 $70,380 $99,600 Engineering Supervisor Exempt E13 $67,128 $94,932 Environmental Management Supervisor Exempt E12 $63,948 $90;468 Laboratory Supervisor Exempt E11 $60,828 $86,064 Senior Opecations Supervisor Exempt E11 $60,828 $86,064 Senlor Maintenance Supervisor Exempt E11 $60,828 $86,064 lnformatlon Technology Supervisor Exempt E11 $60,828 $86,064 Contracts & Purchasing Supervisor Exempt ' E11 560,828 $86,064 Accountihg Supervisor Exempt E11 $60,828 $86,0!)4 Human Res~urc!ls Supervisor Exempt E9 $55,212 $78, 156 Maintenance Supervisor Exempt E9 $55,212 $78,156 Operations Supervisor Exempt E9 $55,212 $78, 156 Source Control Supervisor Exempt E9 $55,212 $78,156 Supervising Construction Inspector Exempt E9 $55,212 $78,156 Warehouse Supervisor Exempt AllAOO 5124/110 Orange County Sanitation District Classifications By Employee Group Management Pay Range Minimum Maximum Classifications FLSA Status E16 $77,688 $109,812 Construction Manager Exempt E16 $77,688 $109,812 Engineering Manager Exempt E16 $77,688 $109,812 Environmental Compliance & Monitoring Manager Exempt E16 $77,688 $109,812 Laboratory Manager Exempt E16 $77.688 $109,812 Source Control Manager Exempt E15 $73,956 $104,616 Controller Exempt E15 $73,956 $104,6~6 Financial Manager Exempt E15 $73,956 $104,616 Plant Automation Manager Exempt E15 $73,956 $104,616 Contracts & Purchasing Manager Exempt E13 $67,128 $94,932 Accounting Manager Exempt E13 $67,128 $94,932 Safety/Emergency Response Manager Exempt E13 $67,128 $94,932 Maintenance Manager Exempt E13 $67,128 $94,932 Human Resources Manager Exempt E13 $67,128 $94,932 Operations Manager Exempt E13 $67,128 $94,932 lnfonnation Technology Manager Exempt AltAOO S/24/0Q Pay Range Minimum E27 $154,596 E20 $95,676 E19 $87,180 E19 $87,180 E19 $87,180 E19 $87,180 E18 $85,992 E18 SBS.992. E17 $75,876 E13 $67,128 Orange County Sanitation District Classifications By Employee Group Executive Management Maximum Clas.sifications $154,596" General Manager $148,836 Assistant General Manager $139,980 Director of Engineering $139,980 Director of Opera1ions & Maintenance $139,980 Director of General Services Administration $139,980 Director of Technical Services $139,464 Director of Frnance $139.464 Director of Information Technology $119,784 Director of Human Resources $94,932 Director of Communications Fl.SA Status Exempt Exempt Exempt Exempt Exempt Exempt Exempt Exempt Exempt Exempt Alt!\00 Pay Range NEO Minimum 9.000 Orange County Sanitation District Classifications By Employee Group "Non-Regular" Part Time Maximum Classifications 16.000 Intern FLSA Status Non-Exempt FAHR COMMilTEE Meeting Date To Bd. of Dir. 05/10/00 AGENDA REPORT Item Number Item Number FAl:iR00-40 Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: NON-RESIDENTIAL CAPITAL FACILITIES CAPACITY CHARGES GENERAL MANAGER'S RECOMMENDATION Direct staff to work with member agencies to evaluate the potential to collect Capital Facilities Capacity Charges (CFCC) for high-demand users in two phases: when building permits are issued, and when tenant improvement permits are issued. SUMMARY When the Capital Facilities Capacity Charge Program was improved in 1999 subsequent to the Rate Advisory Committee process, three categories of non- residential charges were adopted: low-demand, average-demand, and high-demand. The high-demand facilities are defined as restaurants, supermarkets, car washes, coin laundries, amusement parks and shopping centers with restaurants. The fee for these facilities, $1,600 per 1,000 square feet, will be fully phased in on July 1, 2001. Currently, the CFCC is collected by our member agencies at the time the building permit is issued. At this time, the exact tenant mix in a shopping center is unknown. However, if a restaurant is expected to be a tenant, then the high-demand CFCC is collected for all of the shopping center square footage. Recently, the developer of a property in Costa Mesa, Keenan Land Company, proposed an alternative assessment and collection process. The proposal is for the member agencies to collect the average-demand CFCC, currently $675per1-,000 square feet, at the time the building permit is issued, and to collect the balance of the high-demand CFCC when the tenant improvement permit is issued. In this way, only the high- demand user's square feet would be charged the higher fee. The developer reports that other jurisdictions use this method of collection and offers Contra Costa County Sanitary District as an example. While this proposal seems to have some merit, there is additional staff work to be done before it is accepted. Staff will need to contact each of our member agencies to determine if there is a logical two-step permit system as suggested. If there is, then we must determine if that process is such that the agency can collect our CFCC at each step. If the Directors would like this proposal pursued, staff will report on the survey and make a recommendation at a later meeting. H:lwp.dta\agenda\FAHRIFAHR2000\2000 Agenda RepO<tSIFAHRoo-40.doc R~: 8/20/98 Page 1 PROJECT/CONTRACT COST SUMMARY There is a potential for Capital Facilities Capacity Charge revenue to decrease slightly overall. BUDGET IMPACT ~ 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. D Not applicable (information item) ADDITIONAL INFORMATION None. ALTERNATIVES 1. Make no change to the current process. 2. Change the current fee calculation so that high-demand fees are collected with the building permit, but only for the proposed square feet allocated to defined high-demand users. CEQA FINDINGS N/A ATTACHMENTS 1. Letter from Keenan Land Company H:\wp.dtalagencla\FAHRIFAHR:ZOOOOOOO Agenda ReportslFAHRocµo.doe Revised: 8l20l98 Page2 April 7, 2000 Mr. Gary Streed Director of Finance Orange County Sanitary District PO Box 8127 Fountain Valley? CA 92708 Re: Capital Facilities Capacity Charges Dear Mr. Streed: We spoke on the phone yesterday about the Capital Facilities Capacity Charges as described in the attached Table 1 which was provided to me by the Costa Mesa Sanitary District. I want to thank you first for clarifying the fee schedule. If you read the Table, one can interpret this to mean that the incremental increases are on top of the $1 ,600.00. This is, in fact, how it was explained to me by the Costa Mesa Sanitary District. I now understand, through your clarification, that the fee tops out at $1,600.00 and builds up to that point through the increases. Your district may want to make sure the fees are being properly collected. On the other issue of my call, the definition of High Demand water users, the Table 1 indicates that "Shopping Centers with Restaurants" are a high demand user and the high demand fee shall be collected for the entire square footage of the center. In our situation and in the example we discussed, if! develop 50,000 square feet of retail shops in a shopping center and 45,000 square feet are straight retail with no high demand use and only 5,000 square feet is a restauran~ it is my argument that it is unfair to assess the entire 50,000 feet when only the 5,000 feet is high demand. In other jurisdictions, Contra Costa County Sanitary District for instance, the developer pays the average demand rate at the time of shell building permits for the entire center. Then, when a Tenant Improvement permit is issued on a particular space within the shopping center, the jurisdiction will assess and collect the additional high demand fee if it is a high demand user, such as a restaurant. Generally, in shopping centers that we have developed, no more than 10% of the shops are restaurants or high demand users. 700 EMERSON STREE'T • PALO ALT01 CALIPORNIA 94301 • TELEPHONE {SSOI 326-2244 • TELECOPY (650) 326-2920 I am writing to request consideration of this methodology in the interpretation of shopping centers as it seems to pass the fairness test. Assessments should be applied to particular uses according to the particular benefit or burden they gain or cause. I would appreciate the opportunity to discuss this with you and the Finance Committee if appropriate. Please call me when you have the opportunity. Sincerely, Ou,,:~ Craig Fre:h 7 Keenan Land Company enclosure -_,. ' . ~ axJN'l'! SANimTICN DIS'rRIC'l' TABLE 1 CAPITAL FACILITIES CAPACrTY CHARGE Use Cataga~ Rate Basis Base Charge Commercial -Industrial T .000 square feet Low Demand 1 , ooo sqt1are feet s 110 Average Demand 1.000 square feet s 675 High Demand 1,000 square feet $1,5001 Single Family Residential Per Unit 5+ Bedrooms · Per Unit $2,530 4 Bedrooms Per Unit $2.165 3 Bedrooms Per Unit $1,820 2 Bedrooms Per Unit $1,475 1 Bedroom Per Unit $1,130 Multi-Family Residential Per Unit 4-t Bedraoms Per Unit .si.sss 3 Bedrooms PerUnit · $1,620 2 Bedrooms Per Unit $1,275 , Bedroom Per Unit $ 910 Studio Per Unit $ 580 Section 6; Additional. Capital Facifities Capacm Charge; Slgnificam Industrial Users. In aaditio" to the Capftal Facilities capacity Charge, based up an each 1, 000 square feet of building area for commercial -industrtal use category praperties, aU users that are required to obtain a Waste Dl~arge Permit or Special Purpose Oiseharge Permit, as prescribed by On:ii"ance No. , The Base Capit1l Faciliti.as Capacily Charge is estibfished ar $1.!00, but a~all ti! incrementally incrvased from the P1W9nt 1111,auni at '!be (S) ravels. and five (5) time parlads as follaws: Effedive Septembmr i. 1999 Effective Janl.llry 1, 2000 Efrec1lve Jt.ity 1,·2ooa EftlleciYe January 1, 2ca1 Etrec\ive Juty i. 2001 ~ 575 $ 900 11,130 S1.3BO 'J!~. · A &cnRdule of the Capital F~ljties Capacjiy Charges specihd heren will be an file in th• Cffim at tha Baaro Secreraiy crf the Olstria. and i,, the Building 01panme-nt of •acn City within 1he District. "},.aw Demand ean"ections ilnD th~ rOllowin9 catagtJrieS at u-.rs: Nunenes: wa,.hausa.s; Pattting Struct.rre:s; RV Storage: Cl'lurd'les; rruek Termi,,afsi RV Parts; l1'mbarlCotJStntc;tion Yams. -i-ttph Oemanci conn8t'Oans ~re 1'1e following categories af ~trs: Restaurants: Supermal'R!r, Car Washes: Coin 1..aundries: Amuseml!nt Parks; Shopping Centers wiU1 Restill.lrants. -AU ether connec:lion& are Average ctem~"d u&""- TLW.P}:l105477:Do4:0111 '7"'9 5 FAHR COMMITTEE Meeting Date To Bd. of Dir. 05/10/00 05/24/00 AGENDA REPORT It.em Number It.em Number FAHR00-41 Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: CAPITAL FACILITIES CAPACITY CHARGE POLICY GENERAL MANAGER'S RECOMMENDATION Adopt a policy of maintaining the adopted Capital Facilities Capacity Charge rate and structure until the Strategic Plan Capital Improvement Program is modified. SUMMARY The current Capital Facilities Capacity Charge structure was adopted as the culmination of the Strategic Plan Rate Advisory Committee work in 1999. The structure is based upon the Capital Investment Equalization Method of computing the rates. This method has been used at the District since 1989 and uses the historical cost of facilities, the projected additions to 2020, and the number of projected users at 2020. Because two of the three factors used in this calculation are only officially updated during Strategic Plan or Master Plan updates, staff is proposing that the Capital Facilities Capacity Charge remain constant between Master Plan updates. These updates have historically been completed every five years. PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT ~ This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. 0 This item has not been budgeted. D Not applicable (information item) ADDITIONAL INFORMATION None. ALTERNATIVES Recompute the CFCC annually based upon the budgeted Capital Improvement Program and follow the Proposition 218 notification and hearing process. llnldonldata1""1>.dlalagenda\FAHRIFAHR2000\2000 Agenda Repo<ts\FAHR00-41.doc RMed: 8l20lll8 Page 1 CEQA FINDINGS N/A ATTACHMENTS None. GGS:lc H:lwp.dtalagenda\FAHRIFAHR.2000.2000 Agenda Reports\FAHR00-41 .doc R.,.;sed; 8l20l98 Page2 FAHR COMMITTEE Meeting Date To Bd. of Dir. 05/10/00 05/24/00 AGENDA REPORT Item Number Item Number FAHR00-42 Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: SEWER SERVICE USER FEES GENERAL MANAGER'S RECOMMENDATION A. Implement Sewer Service User Fee rates for 2000-01 equal to those previously adopted for Revenue Area 3. These rates will be based upon the single-family residential rate of $78 per year and the percentages adopted in Ordinance No. OCSD-05. Previously adopted higher rates in other Revenue Areas may be implemented as needed in the future. B. Implement previously adopted Sewer Service User Fee rates in Revenue Area 7. The base single-family residential rate will be $73 per year. SUMMARY In 1997 the individual District Boards of Directors adopted multi-year Sewer Service User Fee Rates. These rate schedules were confirmed during the consolidation process through 2001-02. In April, the Directors voted to complete the consolidation by combining the books of account for the various Revenue Areas, except RA7 and RA 14, and implementing a single Sewer Service User Fee. In order not to raise annual fees for any user above those previously adopted, the appropriate rates for 2000-01 are those previously adopted by RA3. These rates are based upon the single-family residential rate of $78 per year. Rates for other types of users are based upon flow and strength average assumptions and are set forth in Ordinance No. OCSD-5. It is important to note that this action does not replace those higher rates that were adopted in 1997; they are only set aside until they become appropriate rates for that area. Setting aside, rather than rescinding these higher rates will allow the District to implement them at a later date, if appropriate, without repeating the Proposition 218 notification and hearing process that was conducted when the rate structure was revised subsequent to the Rate Advisory Committee process. Because of other governance and service issues that remain unresolved, the Board decided not to include Revenue Area 7 in this rate consolidation. Therefore, the 2000-01 rates for RA7 will be those that were previously adopted by District 7 and confirmed by the 1998 consolidation. The base rate, the single family-residential rate for 2000-01 will be $73 per year. \lradon\dtta1W.,,.clta\asenda\FAHRlf"HR2000\2000 A1111nda Rcporb\FAHR00-42.doo Revised: 8f2()'96 Page 1 PROJECT/CONTRACT COST SUMMARY NIA 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 None. ALTERNATIVES None. CEQA FINDINGS N/A ATTACHMENTS None. GGS:lc H:lwp.dlalagenda\FAHRIFAHR200CA2000 Agenda Ref)OflslFAHR00..&2.doc R~: 8l20l98 Page2 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: SOURCE CONTROL PERMIT USER FEES GENERAL MANAGER'S RECOMMENDATION Meeting Date To Bd. of Dir. 05/10/00 -s L! 1)-C Adopt Ordinance No. OCSD-XX, amending Table C of Ordinance No. OCSD-10 relating to Source Control Permit User Fees, setting the rates for 2000-01. SUMMARY General User Fees, those collected as a separate line item on the property tax bill, have been adopted through 2001-02. The fees collected from Class I and Class II Permit users were not included in that action. This action revises the rates (Flow, BOD, and SS) for these permit users so that they are consistent with the rates used for the general user. The proposed rates are based upon the single-family residential sewer service user fee and the actual costs to treat Flow, BOD and SS follows: Revenue Area Flow Per MG BOD Per 1,000# SS per 1000# 1, 2, 3, 5. 6, 11 , 13 219.31 180.45 172.65 7 205.26 168.88 161.58 PROJECT/CONTRACT COST SUMMARY NIA 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. !Z1 Not applicable (information item) ADDITIONAL INFORMATION None. llradon\data11wp dtalfinl210\ctane\FAHR\Fahr20001May\SourceCtl1PermllUserFees.doc Revised: 8120198 Domestic Equivalent 78.00 73.00 Page 1 ALTERNATIVES None. CEQA FINDINGS N/A ATTACHMENTS None. GGS:lc \lradonldata11wp.dlalfinl210\crane\FAHRIFaht2000\May\SourceCtrlPermilUserFees.doc Revised: 8120/98 Page 2 ' FAHR COMMITTEE Meeting Date To Bd. of Dir. 05/10/00 5/24/00 AGENDA REPORT Item Number Item Number FAHR00-44 Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: NON-RESIDENTIAL SEWER SERVICE FEE FACTORS GENERAL MANAGER'S RECOMMENDATION Adopt Ordinance No. OCSD-XX, amending Table B of Ordinance No. OCSD-05, Continuing and Establishing Sanitary Sewer Service Charges. SUMMARY In 1998, after the Rate Advisory Committee process, the Board adopted a revised user fee rate structure. A focal point of this structure was that the non-residential rates become based upon wastewater flow and strength per 1, 000 square feet of development, rather than the same flat rate for all non-residential users. Since this rate structure was adopted, staff and consultants have been working together to refine the quantity assumptions for the various non-residential use types. We have also reviewed the user fee refund requests for accurate water use information. The results of these efforts are shown in attached Exhibit 1. Wastewater generation rates per 1,000 square feet are proposed to be decreased for financial buildings, office buildings, stand-alone stores, industrial parks, steel buildings and mini warehouses. These decreases would affect approximately 11 ,000 parcels. Shopping centers are proposed to be divided into three major categories based upon actual site visits. A low flow center would have a higher ratio of low end water users such as stores, big box retailers and offices. The flow rate for this category would be unchanged. An average flow shopping center would be a typical center with a well diversified mix of tenants. A high flow center would include those with high ratios of laundromats, grocery stores, restaurants, fitness centers, etc. Approximately 31 % of the shopping centers will be classified in each of the low and average categories, while 38% will be categorized as high flow. General Counsel has ruled these changes do not require a Proposition 218 notice. These proposed changes would affect approximately 12,000 of the non-residential parcels in the District, or 35%. The net impact is a reduction of annual user fees of approximately $3.7 million, or approximately .5% of total user fees. They are also expected to reduce the refund requests to a trickle. PROJECT/CONTRACT COST SUMMARY Would reduce annual user fees .5% or $3. 7 million. H:\wp.dta\agenda\FAHR\FAHR~ Agenda Reports\FAHR00-44.doc R<Msed: 8/20l98 Page 1 BUDGET IMPACT ~ This item has been budgeted. (Line item: ) 0 This item has been budgeted, but there are insufficient funds. 0 This item has not been budgeted. 0 Not applicable (information item) ADDITIONAL INFORMATION None. ALTERNATIVES Do not implement proposal. CEQA FINDINGS N/A ATTACHMENTS 1. Exhibit 1 2. General Counsel Memo GGS:lc H:\wp.dtalagenda\FAHRIFAHR:ZOOOOOOO Agenda Repo<ts\FAHR00-44.doc RMecl: 8'20/98 Page2 05/02/2000 Impact of Revised Flow Recommendations Code Descrietion Orig Flow Orig% Proposed Proposed Orig Fees GP0/1000 ToSFR GPD/1000 % ToSFR $ 80.00 36 Financial Buildings 99 41% 65 27% $80,882 65,66,67 ,68,69 Office Buildings 198 82% 100 41% 3,894,846 94,95,96,97 Stores 99 41% 55 23% 592,792 107,108,109,114 Industrial Parks 253 100% 75 30% 5,531,341 112 Steel Buildings 25 17% 10 7% 17,974 113 Mini Warehouses 25 17% 10 7% 32,220 88 Low Flow Shop Ctr 79 53% 79 53% 409,123 89 Avg Flow Shop Ctr 79 53% 200 139% 441 ,704 90 High Flow Shop Ctr 79 53% 325 226% 475,914 Total $11,476,796 Total Non-Residential Service Area % of Non-Residential Service Area G'.\excel.dta\fin\210\streed\old d copy\STRATPLN\Use Fee CRTG Pro'd Fees $ 80.00 $53,264 1,947,423 332,542 1,659,402 7,401 13,267 409,123 1,239,281 2,144,759 $7,806,462 Increase (Decrease) ($27,618) (1,947,423) (260,2501 (3,871,939) (10,573) (18,953) 0 797,577 1,668,845 ($3,670,334) - 3:30 PM CRTGC~lc m x I CD -I LAW O FFICES O F i WOODRUFF, SPRADLJN & SMART A P ROFESSIONAL CORPORA TION TO: Mr. Gary G. Streed Director of Finance FROM~ General Counsel DATE: May 2, 2000 MEMORANDUM RE: Proposed Revisions to Annual Sewer Service Charges-Proposition 218 Requirements The Board of Directors, at its regular meeting of April 26, 2000, approved, in concept, the consolidation of the annual sewer service charges for Revenue Areas Nos. 1. 2, 3, 5, 6, 11 , and 13. That decision needs to be memorialized by the formal adoption of an Ordinance which is planned for submittal for Board consideration at its regular meeting of May 24, 2000. Additionally, you advised that you are making adjustments to the commercial and industrial users1 annual sewer service fees, based upon new evidence as to the actual intensity of use by category of discharger. You have requested the opinion of this office as to whether any or all of the procedural and substantive provisions of Proposition 218 are applicable to the proposed actions. Specifically, the opinion addresses the following question: ISSUE: If the commercial industrial user category has a change in the percentage of single family rate as part of the calculation to determine the rate for the use category, which results in a possible net higher annual charge being levied and paid, are the notice and hearing requirements under Proposition 218 applicable? ANSWER: No. DISCUSSION: The District has previously adopted Ordinance No. OCSD- 05, which establishes the annual sewer service charge for all categories of use-- residential, commercial, and industrial. The specrtic dollar amounts for each Revenue Area on the single-family residential rates are set forth in Table A, as are the rates for multi-family residential properties. Multi-family rates are also included within the identified Assessor Use Code and description of property uses in Table B (see, Assessor Use Codes Nos. 3, and 10-18 inclusive). You have advised that the Finance Department and the Operations Department have confirmed that the actual level and amount of discharges from certain shopping center uses (Assessor Use Codes Nos. 88, 89 , and 90) have changed, and the discharge data confirms that in most instances the OPOSITION May 2, 2000 Page 2 BOD, SS and flow, in all instances, has increased , thus reflecting an increased density or intensity of the flow and use of property. Proposition 218 requires that whenever a public agency is imposing or increasing any fee or charge, that the agency shall provide written notice by mail to the record owner, and include therein the basis upon which the charges are calculated. However, there are certain exceptions to that basic premise. In 1997, the Proposition 218 Omnibus Implementation Act (Senate Bill 919) enacted a number of statutory clarifications and interpretations of Proposition 218, which are applicable and controlling in the case which you have presented. Specifically, Government Code Section 53750(h)(2)(B)(3) provides: "a ... fee or charge is not deemed to be 'increased' in the case in which the actual payments from a person or property are higher than would have resulted when the agency approved the ... fee or charge, if those higher payments are attributable to events other than an increased rate or revised methodology, such as a change in the density, intensity, or nature of the use of land." Since the initial adoption of Ordinance No. OCSD-05, the District has been able to update and refine the information and data upon which the calculations were initially made for all Uses, particularly Assessor Use Codes Nos. 88, 89 , and 90 relating to shopping centers. Based on the new data, it is established that the actual flow discharge has intensified and increased , and therefore, the corrective percentages are applicable. It is my opinion that Proposition 218 is not applicable, and is exempt pursuant to Government Code Section 53750(h)(2)(B)(3), because the basic rate has not been changed or increased, and the methodology has not been revised. It is the other events-namely, that the confirmation of actual increased flow from the shopping centers that is resulting in the revised percentage formula which may or may not result in an increased annual charge. TLW:pj cc: Board of Directors Mr. B.P. Anderson OPOSITION THOMAS L. WOODRUFF GENERAL COUNSEL .. FAHR COMMITTEE Meeting Date To Bd. of Dir. 5/10/00 5/24/00 AGENDA REPORT Item Number Item Number FAHR00-45 Orange County Sanitation District FROM: Lisa Tomko, Acting Director of Human Resources Originator: John Weingarden, Human Resources Analyst Doug Stewart, Engineering Manager SUBJECT: TEMPORARY EMPLOYMENT SERVICES GENERAL MANAGER'S RECOMMENDATION Approve an increase to the Temporary Employment Services total contracts by $200,000, from $1,000,000 to $1,200,000 for remainder of Fiscal Year 99-00, and approve funding in the amount of $2,402,000 for Fiscal Year 00-01 . SUMMARY Temporary services for the District are comprised of both capital and non-capital projects. 15% of the temp needs are non-capital and 85% are capital. Additional temporary staffing is required as a result of a peak in capital improvement projects outlay during the five-year period through fiscal year 2004. This need for capital-related temporary services is in addition to the need for services for daily operations at the District. The need for temporary services to support the projected future capital improvement program was discussed with and approved by the PDC Committee in April 1999 (see attached). The Temporary Employment Services Agenda Item, FAHR99-50, approved by the FAHR Committee, estimated $1 ,000,000 per year cap on all temporary employment services for the District, included capital as well as non-capital related temporary services. We anticipate a $200,000 shortfall for this fiscal year. As the capital improvement program continues to increase over the next four years, capital- related temporary services for engineering, inspection, and support services will need to be increased. Based on the current capital-improvement program/outlay schedule, the District will need an additional $200,000 in temporary employment services for FY 99-00, including non-capital related temporary employment services. For FY 00-01 this amount is anticipated to increase to $2,402,000 and may reach a high of $3,870,000 FY 02-03. The increase in capital-related resource needs is a result of capital projects that will move from the design process to the construction phase. As the design work moves to the construction phase, additional staff will be needed. The cost of the capital-related temporary services will be paid by the capital project budget. These costs do not impact the cost per million gallons. Staff is recommending the above-described increases in Temporary Employment Services. Staff recognizes that the degree of escalating costs associated with temporary contract service-workers are unexpected, and previously not forecasted. For this reason, we will H:\wp.dtalagenda\FAHRIFAHR~ Agenda Reporls\FAHR00-45,doc: ReviM<I: 8/20/98 Page 1 be conducting a cost analysis during the first half of FY 00-01 to accurately address the advantage of regular employees verses contract service workers. PROJECT/CONTRACT COST SUMMARY Year Capital Non-Capital Total 99-00 $ 970,000 $230,000 $1,200,000 00-01 2 ,125,000 277,000 $2,402,000 01-02 * 3,095 000 275,000 $3,370,000 02-03 * 3,595,000 275,000 $3,870,000 03-04 * 2,475,000 275,000 $2,750,000 * For information only, funding amounts to be proposed and approved in subsequent Fiscal Years. BUDGET IMPACT t81 This item has been budgeted. D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. D Not applicable (information item) ADDITIONAL INFORMATION Discussion The District's staff has recognized a significant need for contract-service workers due to an increase in capital projects for the next five years. Our capital improvement project budget is expected to increase from $70,000,000 today to $198,700,000 by fiscal year 2005. As information, this capital outlay represents over 180 various projects throughout the treatment and collections facility. Most of these projects were identified in the Strategic Plan adopted by the Board in 1999. Other projects are added to the CIP that have been identified by staff and recommended by the EMT and the General Manager. The projected capital outlay for fiscal year 2000-01 is $83,007,000. In April 1999, the Engineering Department presented a program to the PDC Committee that would provide contract-service worker resources to conduct the capital project work. The proposed program consisted of hiring contract-engineering services during the associated five-year peak capital outlay period. FAHR Item 99-50, in June 1999, requested $1,000,000 in funding for temporary employment services which included the proposed capital improvement contract engineering staff. Due to the fact that the staff recommendation to FAHR included the contract engineering services staff for the capital-related program, as well as non-capital related temporary services, the $1,000,000 did not accurately r~flect the needs of the District. The purpose of this agenda item is to request additional funding to cover the shortage during the current fiscal year for temporary services supporting the CIP, and to provide a forecast for additional funds for the next three years. (These amounts will be subject to approval by the board when the budget for each of those three years are adopted each June.) H:lwp.dta\agenda\FAHR\FAHR2000'2000 Agenda Reports\FAHRQ0..45,doc ReYised: B/20/98 Page2 As the capital improvement program activities ramp up, additional contract-services will be required for project management, design, reviews, coordination, and inspection. For example, as the current design projects move into construction, additional construction engineers and inspectors must be obtained. Staff has estimated that additional contract service-workers will ultimately be required for capital-related activities. These additional temporary resources will be required in the Design, Process Engineering, Construction, Customer and Network Support, Programming and Database Systems and the Process Control Integration Divisions. The increase in capital outlay has impacted the O&M Department as a result of coordinating capital activities with the Engineering Department, reviewing construction plans and specifications, developing facility process-control strategy for the new projects, planning for construction sequencing and connections to existing facilities, assisting with plant start-ups and shut-downs, visiting various collection and treatment plant sites with consultants, attending meetings, arranging for sewer flow monitoring and/or video taping as required by capital project needs, and coordination between capital activities and ongoing treatment plant operations. In addition, the temporary engineering resources will be used to ensure field staff safety, for locating utilities, and for reviewing designs for operability and maintenance friendliness. The O&M Department currently has one contract·engineer in the Process Engineering Division to support the treatment plant capital improvement program and requires a second to provide support for the collections system capital program. The requirements for Information Technology related services and support continue to rise above the Department's current resource level. Many of these requirements are short-term or project oriented and can be met by augmenting permanent staff with temporary contract support. This strategy gives Information Technology the flexibility to manage its peak workloads associated with programming, analysis, project management, and hardware/software support. Further, this strategy will provide Information Technology with the temporary staff required to support the increased volume of capital project work now going into design. Funding Funding for capital improvement contract service-workers is already recognized through the particular capital project being worked on, and is budgeted by the particular capital budget process. The temporary service-worker contracts for operating requirements are budgeted within the Operating Fund. ALTERNATIVES 1) Deny the request and put certain projects on hold. 2) Hire full time regular employees on Limited Term Contracts to support a Division through a peak period. Limited term employees are regular full time employees placed on contracts with a specific end date. These employees, during the duration of their contracts, would be entitled to all benefits and provisions of regular full time employees. H:\wp.dla~genda\FAHR\Fl\HR20002000 Agerida ReportslFAHR00-45.doc RfMsed: &r.!0,'98 Page3 CEQA FINDINGS Not applicable. ATTACHMENTS FAHR Item Number FAHR99-50 PDC Item Number PDC99-20 H:\wp.dtllWQendalFAHRIFAH~ Agenda Reporl51FAHR00-4S.doc R~ 8/20/98 Page4 FAHR COMMI I I EE Meeting Date To Bd. of Dir. 6/9/99 6/26/99 AGENDA REPORT Item Number Irem Number FAHR.99-50 Orange County Sanitation District FROM: Mike Peterman, Director of Human Resources SUBJECT: TEMPORARY EMPLOYMENT SERVICES GENERAL MANAGER'S RECOMMENDATION 1. Award contracts for Temporary Employment Services (Specification No. P-186) to the following support staffing firms for a period of one year, renewable for a period of four years, and cancelable at any time, for a total amount not to exceed $1 million: General Agency • Apple One Technical Agencies • Principal Technical Services, Inc. -Engineering and IT Personnel • EPC Consultants, Inc. -Engineering Personnel • DOB Engineering, Inc. -Engineering Personnel • Two Roads Professional Resources, Inc. -Engineering Personnel • Project Partners -Engineering Personnel • T ek Systems -IT Personnel • Lab Support -Laboratory personnel 2. Authorize staff to enter into additional agreements with other temporary firms as they become known to District's staff, provided it is within budget guidelines. SUMMARY The District has typically had short-term, low-volume temporary staffing needs and has contracted with one or two agencies to fulfill them. However, temporary staffing utilization is increasing with additional Engineering and IT projects. Since the increase in temporary costs exceeds $100,000, Board approval is needed. Three-quarters of the District's temporary labor needs are due to the increase in capital projects for the next five years. The Engineering department has already obtained approval from the Planning and Design Committee for the increase in the temporary staffing budget and will continue to provide the PDC with regular updates. Human Resources has interviewed each company listed in the recommendation and is satisfied that they can meet administrative requirements of doing business with the District. In the General Agency category, Apple One has agreed to a 40-50% markup rate for general, clerical, and light industrial staffing. Other companies have been used H:\wp,dla\agendaV'AHRIFallr119199af'f'AHR99-50.dot R<Msed; 8/2Ql98 Page 1 in the past, but only Apple One has been able to consistently supply the District with high quality temporary employees. The technical firms work a little differently than the general temporary agencies. Instead of negotiating a markup rate up front, the Engineering and IT departments plan to put temporary staffing opportunities out to all of the qualified firms above and have them compete against each other for each assignment. Those companies who find the most qualified candidate at the lowest price will be selected on a case-by-case basis. Instead of listing out all of the requirements that the temporary staffing firms need in order to do business with the District, a copy of the District's generic temporary services contract is attached. Each company will need to sign it, or one like it, and agree to the proper insurance and employment practices. Because there may be other technical agencies we wish to use, and because the posting of the jobs will be an openly competitive process, staff is asking for the authority to enter into similar agreements with other agencies without having to return to the Board to approve each agency. PROJECT/CONTRACT COST SUMMARY Not to exceed $1 million BUDGETlMPACT ~ This item has been budgeted. (Line item: J.O. Contractual Services and Capital Improvement Budgets) 0 This item has been budgeted, but there are insufficient funds. 0 This item has not been budgeted. D Not applicable (information item) ADDITIONAL INFORMATION N/A Al TERNATIVES Hire additional regular, full-time employees for an indefinite period or on a contractual basis. CEQA FINDINGS N/A ATTACHMENTS Sample generic Temporary Services Contract H:\wp.dtaWg9nde\FAHR\Fah1"1199aN' AHR99-50.dol Rwised: lll20lll6 Page2 PDC COMMITTEE Meeting Date To Bet. of Dir. 04/01/99 AGENDA REPORT Item Number POC99-20 Orange County Sanitation District FROM: David Ludwin, Director of Engineering Originator: David Ludwin, Director of Engineering SUBJECT: Temporary Staffing Plan for Engineering Department GENERAL MANAGER'S RECOMMENDATION (1) Approve temporary staffing plan for the Engineering Department; (2) Authorize staff to negotiate contracts with staffing firms for temporary staffing; and (3) Delegate authority for temporary staffing contract oversight to the PDC Committee. SUMMARY As an outcome of the Strategic Plan, a new Capital Improvement Program (CIP) has been developed. The new CIP establishes a program of capital improvements in the collection system and treatment plants to meet the needs of the District through the year 2020, totaling $1.5 billion. The CIP includes treatment plant capacity and improvement projects, collection system capacity and relief projects, and rehabilitation projects in both the treatment plants and collection system. The CIP also includes participation in Phase 1 of the Groundwater Replenishment System with the Orange County Water District, and cooperative programs with our member cities and sanitary agencies including projects to address inflow and infiltration reduction and water conservation. Based on the planning assumptions used in the Strategic Plan and the projected population and flow projections developed, a preliminary project implementation schedule has been developed to meet those future needs of the District's service area. The schedule calls for a substantial increase in the number of projects and associated capital expenditures over the next four to six years. The Engineering Department staffing levels have remained relatively stable over the past few years, varying between 61 and 74 full-time equivalents (FTEs). The CIP annual expenditures for collections system and treatment plant projects in that same time frame have varied between $30 and $50 million. In comparison, the annual expenditures associated with the new CIP for collections system and treatment plant projects are expected to be between $75 and $100 million over the next four to six years. Beyond six years, the projected levels of capital expenditures will reduce to current levels. Due to this projected increase in the number of projects and expenditures over the next four to six years, the current staffing level in the Engineering Department will not be sufficient to allow the planning, design, and implementation of the new CIP . To be able to address the short-term staffing needs in the Engineering Department, a plan has been drafted H:\wp.dta\agenda\POCIPOC99\99ARS\99-20 • Staffing F'tan • 040199.doc Re>'iaed: 6/20/98 Page 1 04/28/99 Item Number that will use temporary technical staffing. Contract project managers, engineers, and construction inspectors will be used to supplement full-time staff on an as- needed basis. The plan will be flexible, in that temporary staff with the necessary skills can be brought on at the appropriate time, and can be released when the assignment is over. It also provides management the ability to easily release personnel that are not performing to expectations at any time. This will assure that the program will remain cost-efficient and effective in getting the work accomplished. The proposed CIP project budgets include the costs for engineering, administration, construction, and contingencies. All of the proposed project budgets include estimates for engineering consultants, as well as the staff costs to oversee the project design and construction, which would include the costs for the temporary staff. Several temporary staffing firms have been contacted to discuss the availability of temporary technical staff and the expected costs. It appears that sufficient resources with the required skills are available in the market place to meet our needs. The temporary staffing firms attract people by offering a competitive salary and a full benefit package, including dental and medical health coverage, insurance, holiday pay, sick and vacation pay, as well as 401 K retirement saving plans. The cost to the District to employ temporary staff approaches the cost of hiring full-time employees. The Human Resources Department has begun preliminary discussions with these firms to establish contract terms, salary markups, and profit margins. Staff is recommending that a program be established that would allow temporary staffing to meet the needs of the Engineering Department in implementing the new CIP. For the purpose of monitoring the program, Staff would bring to the PDC Committee on a quarterly basis, and for the duration of the program, a request for expected staffing needs for the upcoming quarter, including required technical disciplines, project assignments and budgets, as well as a history of the past quarters. PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT C8J This item has been budgeted. D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. D Not applicable (information item) All budgets for proposed capital projects include estimated staff costs for project management and support through design, construction, and startup, which would cover the costs of temporary staff. ttlwp.Cllll\llgenllalPOC'POCW\991\RSUl9-20. St:llllng Plan. 040199.Cloo Revised: 8l2Cw'98 Page2 ADDITIONAL INFORMATION NIA ALTERNATIVES Hire permanent, full-time staff to support the proposed CIP or significantly cut back the proposed CIP to match the existing staff capacity to do the work. CEQA FINDINGS N/A ATTACHMENTS Treatment Plant and Collection System Graph H:lwp.dta'\agenda\PDC'PDC99\99AR~20 ·Staffing Plan • 040199.doc R..m.d: 8/20/98 Page3 FAHR COMMITTEE Meeting Date 05/10/00 AGENDA REPORT Item Number FAHR00-46 Orange County Sanitation Disbict FROM: Gary Streed, Director of Finance SUBJECT: PROPOSED FY 2000-01 JOINT WORKS OPERA TING AND CAPITAL BUDGETS GENERAL MANAGER'S RECOMMENDATION Receive and file this information-only report. SUMMARY To Bd. of Dir. Item Number An overview of the 2000-01 proposed budget will be presented for the Committee's . consideration. The complete proposed budget will be presen~ed to the OMTS, PDC and FAHR Committees at their regular June meetings in order to allow each Standing Committee an opportunity to review the proposal prior to the June Board meeting. Staff will present an enhanced overview of the Capital Improvement Program (CIP) Budget to the PDC Committee, with emphasis on new capital projects starting in FY 2000-01 . The entire budget will be presented for Board consideration on June 28, 2000. Although each Committee will have an opportunity to review the proposal, it remains the responsibility of the Finance, Administration and Human Resources Committee to recommend approval of the Joint Works Operating and Capital Budgets. 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) ADDITIONAL INFORMATION N/A ALTERNATIVES N/A H:lwp.clta\agenda\FAHRIFAHR2000a000 Agenda RepcftSIFAHR~.cloc Rtlllised: 8l20l98 Page 1 CEQA FINDINGS N/A ATTACHMENTS 1. Proposed Joint Works Operating Line Item Budget 2. Comparative Detail for Contractual and Professional Services 3. Staffing History Summary 4. CIP Project Budget Summary By Typ,e 5. CIP Project Budget Detail By Status 6. CIP Cash Flow Projections 7. CORF Equipment Summary H:\wp.dlaWilendalFAHR\FAHR2000.2000 Agetldlo Repcwt51FAHRQ0.46.doc R...i..d: l/20/98 Page2 2000-01 Budget Proposed Budget Expense by Line Item Budget 1998·99 1999-00 1999-00 2000-01 Percent Descri~tion Actual Budget Projected Pro~osed Change Salaries, Wages, & Benefits Salaries & Wages 32,675,487 32,123,300 31 ,991,468 34,839,700 8.46 Employee Benefits: Retirement 2,729,376 1,938,600 2,195,133 2,400,300 23.82 Group Insurance Group Insurances 2,820,149 3,177,000 3,250,216 3,614,500 13.77 Tuition Reimbursement 77,183 6,821 Uniform Rental 63,768 67,200 67,350 69,200 2.98 Worker's Compensation 219,001 237,400 311,518 310,200 30.67 Unemployment Insurance 6,679 112,300 5,800 53.800 {52 .09) Total Benefits 5,916,156 5,532,500 5,836,838 6,448,000 16.55 Salaries, Wages, & Benefits 38,591 ,643 37,655,800 37,828,306 41 ,287,700 9.65 Mat!, SUQQllf'., & Services Agmioistcatjve Ex(2enses: Memberships 140,258 182,100 182,600 185,500 1.87 Office Expense -Supplies 165,104 155,200 132,375 141, 100 (9.09) Office Expense -Other 97,316 109,000 88,593 89,300 (18.07) Small Computer Items 239,850 250,000 150,800 2-50,000 Minor Furniture, Fixtures, etc. 28,210 107,800 92,800 87,100 (19.20) Eriotiog ~ Publica1ioo: Repro·ln-House 253,982 285,200 260,877 254,300 (10.83) Printing-Outside 42,038 67,500 62,217 59,450 (11.93) Notices & Ads 21,212 24,600 31,600 30,600 24.39 Photo Processing 8,223 10,200 7,130 7,950 (22.06) Tralnjng & Meefings; Meetings 201 ,928 236,000 213,539 223,850 (5.15) Training 493,380 755,000 600,000 678,000 (10.20) Qi;ierntiog f;;x12en§~s: Chemical Coagulants 1,238,736 1,307,300 1,410,000 1,361 , 100 4.12. Sulfide Control 1,202,427 1,255,800 1,408,610 1,435,000 14.27 Odor Control 1,376,453 , ,424,200 1,108.400 997,800 (29.94) Chemicals -Cogeneration Oper. 11,183 29,700 22,000 20,000 (32.66) Miscellaneous Chemicals 8,434 28,300 28,200 14,000 (50.53) Gasoline, Diesel & Oil 314,115 158,600 161,500 187,300 18.10 Toots 88,244 168,300 134,811 120,700 (28.28) Solv, Paints, & Jan. Supplies 58,219 41 ,600 36,300 43,950 5.65 Lab Chemicals & Supplies 316,976 334,000 452,941 386,400 15.69 Other Operating Supplies 179,365 134,900 150,000 146,710 8.75 CQDtracty;a! Services: Solids Removal 3,961,656 4,293,500 4,777,000 5,000,000 16.46 Otner Waste Disposal 402,742 490,700 491,250 467,100 (4.81) Groundskeeplng & Janitorial 217,816 262,000 460,000 410,000 56.49 Outside l ab Services 69,095 148,700 195,100 248,200 66.91 Oxygen Plant Operations 274,740 331 ,500 281 ,350 295,000 (11.01) Other 711,980 1,236,300 704,688 801 ;400 (35.18) Continued: Section 5 -Page 6 Joint Works Operating Fund Proposed Budget Expense by Line Item Budget 1998-99 1999-00 1999·00 2000-01 Percent Description Actual Budget Projected Pro~osed Change Continued: E(ofessiona! Services: Legal 332,003 390,000 393,000 420,000 7.69 Audit & Accounting 46,765 46,800 45,100 45,500 (2.78) Engineering 174,214 440,500 341 ,300 277,500 (37.00) Other 777,087 1,603,600 1,156,278 1,242,500 (22.52) Research & Monitoring: Environmental Monitoring 1,422,690 1,678,100 1,678,100 1,510,000 (10.02) Air Quality Monitoring 16,477 95,000 40,000 75,000 (21.05) Research 392,545 655,500 580,500 550,500 (16.02) R~gairs ~ Maintenance: Materials & Services 3,638,165 3,809,100 4,255,670 3,904,050 2.49 Svc. Mtc. Agreements 728,969 1,821,300 1,015,350 1,383,450 (24.04) Utilities: Telephone 207,208 249,200 261,958 251 ,850 1.06 Diesel For Generators 10,000 15,000 11,000 10.00 Natural Gas 978,509 1,032,500 1,288,500 1,130,000 9.44 Power 1,355,155 1,411,400 855,200 921,500 (34.71) Water 799,598 876,900 818,520 830,900 (5.25) Qther Qgerafing ~uo12Hes; Outside Equipment Rental 125,016 179,600 139,221 146,180 (18.61) District Equipment Rental 301,638 319,400 320,199 322,000 0.81 Insurance Premiums 1,060,540 1,188,000 1,188,000 1,200,000 1.01 Freight 58,062 56,600 53,378 52,560 (7.14) Misc. Operating Expense 143,701 185,000 169,357 169,000 (8.65) AQMD Operating Fees 112,303 142,000 120,000 120,000 (15.49) General Manager Contingency 405,900 340,000 (16.24) Reappropriations 220,000 Other Non-Operating Expense 32,685 47,400 58,678 44,250 (6.65) Total Matis, Supp, & Serv. 24,827,011 30,471,800 28,437,990 29,109,550 (4.47) Total J. 0 . Requirements 63,418,654 68,127,600 66,266,296 70,397,250 3.33 Cost Alloc-Corf & Other (17 ,261 ,646} (19,732,600) ~ 18, 158,954} ~19,906,600} 0.88 Net J. 0 . Requirements 46,157,008 48,395,000 48,107,342 50,490,650 4.33 Net J. 0. Revenue {3:564.143~ {4,395,000) {4,868,000} (4,490,650} 2.18 Net J. 0. Budget 42,592,865 44.000,000 43,239,342 46,000.000 4.55 Section 5 -Page 7 Orange County Sanitation District Comparative -FY 1999-00 and 2000-01 Budgets Proposed Budget -Professional Services Proposed Adopted Increase Description 2000-01 1999-00 (Decrease) LegalSeNices 420,000 390,000 30,000 Environment Scientific Consultants 311,000 311 ,000 Software Programming Consultants 291,500 400,000 (108,500) Engineering Services 277,500 589,000 (311 ,500) Financial Information System Support 200,000 60,000 140,000 Capital Project Management Consulting 150,000 150,000 Other Professional Services 81 ,000 251,500 (170,500) Industrial Hygiene Services 50,000 50,000 Advocacy Efforts 49,000 49,000 Audit Services 45,500 46,800 (1 ,300) Labor Negotiations 40,000 50,000 (10,000) Study of Water Use Fees 30,000 80,000 (50,000) Alternate Dispute Resolution 25,000 25,000 Cost Allocation Program 15,000 10,000 5,000 Ocean Monitoring Database & Consulting 245,000 (245,000) Utility Services Audit 100,000 (100,000) Hazardous Energy Control Procedures 100,000 (100,000) Technical Services Operational Audit 50,000 (50,000) Biosolids Consulting 50,000 (50,000) Total Professional Services 1,985,500 2,422,300 (436,800} Propc;>sed Budget • Contractual Services Proposed Adopted Increase Description 2000-01 1999-00 (Decr ease) Solids Removal 5,000,000 4,293,500 706,500 Other Waste Disposal 467,100 490,700 (23,600) Temporary Services 277,500 221,200 56,300 Oxygen Plant Operations 295,000 331 ,500 (36,500) Outside Lab Services 248,200 148,500 99,700 Security Services 195,000 150,000 45,000 Janitorial Services 180,000 180,000 Other Contractual Services 293,900 369,900 (76,000) In-Plant Line Cleaning 150,000 283,200 (133,200) Grounds keeping 80,000 80,000 Warehouse DART Reinvention 35,000 140 ,000 (105,000) Weed Abatement Program 50,000 (50,000) Total Contractual Services 7,221,700 6,738,500 483,200 2000-01 Budget Staffin g History Summary Authorized Authorized Authorized Authorized Authorized Proposed Department and Division Name Positions FTE FTE FTE FTE FTE 1995-96 1996-97 1997-98 1998-99 1999-00 2000-01 General Management Administration 5 6.00 6.00 4.00 4.00 3.00 Board Secretary 3 3.00 . Management Support 1 - Subtotal 9 9.00 6.00 4.00 4.00 3.00 Finance Administration 4 4.00 4.00 4.00 4.00 4.00 Accounting 20 20.00 19.00 19.00 16.00 15.00 Purchasing & Warehousing 18 16.75 16.00 15.00 17.50 17.50 Subtotal 42 40.75 39.00 38.00 37.50 36.50 Communications 12 9.00 9.75 10.75 9.00 9.00 Subtotal 12 9.00 9.75 10.75 9.00 9.00 General Services Administration 3 6.50 4.00 6.00 2.00 - Subtotal 3 6.50 4.00 6.00 2.00 - Human Resources & Employee Development 9 5.00 6.75 6.50 10.25 10.25 Education & Training 3 6.00 6.00 5.25 - Subtotal 12 11.00 12.75 11.75 10.25 10.25 Technical Services Administration 15 6.00 5.00 4.75 2.00 2.00 Environmental Compliance & Monitoring 16 19.00 21.25 18.00 20.00 19.00 Environmental Science Laboratories 47 39.00 35.00 34.00 32.00 32.00 Source Control 43 39.75 38.75 3o.75 33.75 34.00 Safety & Emergency Response 7 5.50 5 .50 5.00 7.00 7.50 Subtotal 128 109.25 105.50 98.50 94.75 94.50 Engineering Administration 6 2.00 3.00 3.00 3.00 3.00 Planning & Design Engineering 31 31.50 31.00 27.25 35.25 34.25 Construction Management 40 40.00 37.50 37.00 36.75 36.00 Subtotal n 73.50 71.50 67.25 75.00 73.25 Operations & Maintenance Administration 22 20.00 2.00 2.00 2.00 2.00 Maintenance Administration 10 . Operations & Mtce Scheduling 6 6.00 - Collections Facilities Maintenance 32 31.50 17.50 18.50 17.50 18.50 Plant Facilities Maintenance 52 46.50 40.50 38.50 29.50 29.50 0 & M Process Support 12.25 11.25 10.00 9.50 Plant Operations, Plant 1 119 44.00 37.00 37.00 33.33 33.00 Plant Operations, Plant 2 52.00 42.00 43.00 39.33 38.50 Mechanical Operations & Maintenance 68 63.00 54.50 52.50 45.50 44.50 Electrical & Instrumentation Oper & Mtce 63 60.00 58.50 58.50 55.50 55.50 Central Generation Operations 13.00 13.00 11.00 10.34 9.00 Air Quality & Special Projects 8.00 8.00 10.00 10.50 Subtotal 372 336.00 285.25 280.25 253.00 260.50 lniormation Technology Administration 3.00 3.00 2.00 Info Tech Customer & Network Support 16 15.00 19.00 10.00 14.00 12.00 Info Tech Programming & Database 6.00 7.00 10.00 Info Tech Process Controls Integration 7 6.00 7.00 7.00 9.00 9.00 Subtotal 23 21.00 26.00 26.00 33.00 33.00 Total, All Departments 678 616.00 559.75 542.50 518.50 510.00 Section 1 o -Page 2 2000-01 Budget Project Budget Summary By Project Type Replacement/ Improved Additional Total Item Rehabilitation Treatment Capacity Support Budget Collections l=acilities $ 9,365.416 $ 119,000 $ 10,811.161 $ 313,133 $ 20,608,709 Headworks 984,885 33,180 1.018,065 Primary Treatment 1,114,700 123,500 6,646,760 364,000 8,248,960 Secondary Treatment 1,216,141 368,062 433,557 2,017,760 Solids Handling & Digestion 6,891,460 713.918 526,412 4,850,000 1'2,981,790 · Ocean Outfall Systems 429,600 429,600 859,200 Utility Systems 1,631.250 524,250 100,000 2,255,500 Electrical Power Systems 1,309,330 864,630 2,173,961 Flow Management & Rellability 380,400 484,400 864,800 Safety & Security Improvements 1,022,314 668,952 1,691,266 Process Related Special Projects 706,630 212,300 795,400 1,714,330 Strategic & Master Planning 128,558 1,608,000 1 ,736.~58 Water Management Projects 2,329,100 3,776,000 6,105,100 Research & Development 1,124,000 20,000 1,144,000 Plant Automation & Computerization 1,195,649 1,821,459 77,500 988.918 4,083,526 Information Management & Computerization 530,500 1,449,190 78,500 4,896,440 6,954,630 Miscellaneous & Support Projects 3,486,490 468,855 1,681,605 5,636,950 Equipment 873,600 873,600 873,600 291,200 2,912,000 Total $ 31,138,365 $ 11,153,603 $ 24,137,490 $ 16,577,647 $ 83,007,104 Page 1 cJ 7 Capital Improvement Program 2000-01 Budget By Project Status Proj. # Project Description Total Budget New Revised Continuing Futu~ Revenue Area 1 1-17 Santa Ana Trunk Sewer Rehab Coll System 7,494,000 7,494.000 1-20 Greenville-Sullivan MH Rehab Coll System 729,000 729,000 1-21 Raitt St~et MH Retiabttitation Coll System 630,000 630,000 1-22 Lower Main-Broadway MH Rehabilitation Coll System 795,000 795,000 Miscellaneous Capllal Improvements, RA1 Coll System 500,000 500.000 Revenue A~a 1 Total Budget 10,148,000 500,000 7.494,000 2,154,000 Revenue Area 2 2-21-1 Carbon Canyon Dam Interceptor Parallel Sewer Coll System s,007,139 5,007.139 2-24-1 Carbon Cyn Sewer & Pump Sin. Abandonment Coll System 2.684,000 2.684,000 2-31 Santa Ana River Interceptor Relief Sewer Coll System 11,853,000 11,853,000 2-37 Area 2 -Retiabilitatlon of Outlying Pump Stations Coll System 120,000 120,000 2-4~ Santa Ana. River Inter Realignment arid Protection Coll System 31,438,000 31,438,000 2-42 AbandonmentofYorba Llnda Pump Station Coll System 280,000 760,00(] 2-46 Newhope-Ptacenlia Trunk Replacement Coll System 12.745,000 12.745,000 2-47 Cypress Al/enue Trunk Replacement Coll System 3,380,000 3,380.000 2-49 Taft Branch Improvements Coll System 4,742,000 4,742,000 2-60 Atwood Subtrunk Improvements Coll System 1,889,800 1,889,800 2-51 Lower Santa Aria River Interceptor Improvements Coll System 19,617,000 19,617,000 2-52 Euclid Relief Improvements -Reach "A" Coll System 10,831,000 10,831,000 2-53 Euclid Relief Improvements -Reach "B" Coll System 5,210,000 5,~10,000 2-54 Upper Newhope-Placentla Trunk Manhole Rehab. Coll System 1,746,000 1,746,000 2-55 Lower Newtiope-Placentia Trunk Manhole Rehab. Coll System 2,222,000 2.222,000 2·56 Santa Ana River Interceptor Manhole Rehab. Coll System 662,000 662,000 2-67 South Anaheim Interceptor Manhole Rehab Coll System 1,270,000 1,270,000 2-56 Santa Ana River Relief Sewer, Reach B Coll System 12,975,000 12,975,000 Miscellaneous Capital Improvements, RA2 Coll System 2,000,000 2,000,000 Trunk Sewer Mapping Project Coll System 124,680 124,680 Revenue Area 2 Total Budget 130,796,619 6,742,000 120,000 63,827,619 60, 107,000 Revenue Area 3 2-37 Area 3 -Rehabilitation of Outlying Pump Stations Coll System 168,000 168,000 3-2-1 Replace Miller Holder Trunk Sewer Siphon Coll System 1,996,000 1,996,000 3-25 Orange-Western Subtrunk Relief Sewer Coll System 1,232,000 1,232,000 3-35R Rehabilitation of the Magnolia Trunk Sewer Coll System 10,352,000 10,352,000 3-35R-2 Rehabllltatlon Of Magnolia Trurik Sewer. Phase 2 Coll System 12,127,000 12,127,000 3-38-1 Miiier-Hoider Trunk Sewer System. Reach 1 Coll System 10,669,000 10,689,000 3-42 Westside Relief Interceptor Parallel Coll System 4,650,000 4,650,000 3-45 Trask Branch of the Hoover-Western Subtrunk Coll System 542.000 542,000 3-49 West Slde Inter/ Los Alamitos Manhole Rehab. Coll System 662,000 662,000 3-51 Rehabnitatlon of the Se<1I Beach Pump Station Coll System 3,083,000 3,083,000 3-52 Rehabilitation or the Westside Pump Station Coll System 1,619,000 1,619,000 3-9-1 Mods. to Magnolia Relief Sewer In Western Ave. Coll System 206,847 208,847 Miscellaneous Capital Improvements, RA3 Coll System 2,000,000 2,000,000 Phase 2 Corrosion Assessment Coll System 68,000 68,000 Conlinous feed Chemical Treatment Facnity Call System 308,000 308,000 Trunk Sewer Mapping Project Coll System 157,928 157,928 Revenue Area 3 Total Budget 49,862,775 20,437,000 21,209,000 2,362,775 5,854,000 G:lexcel.dta\lin\210\streed\00-01 budget\CIP by Status 05/0212000 at 4:06 PM Page 2 of 7 Capital Improvement Program 2000-01 Budget By Project Status Proj. # Project Descnption Total Budgat New Revised Continuing Future Revenue Area 5 2-37 Area 5 -Rehabrtltation of Outlyfng Pump Stations Coll System ;336,000 336,000 5-43 Big Canyon Offsile Sewer Rehabilitation Coll System 2,713,000 2,713,000 5-46 Repl;icement of Back Bay Trunk Sewer Coll System 8,094,000 8,094,000 5-47 Balboa Trunk Sewer Rehabilitation Coll System 3,968,000 3,968,000 5-49 Replacement of the Bitter Point Pump Stalfon Coll System 3,479,000 3,479,000 5-50 Replacement of the Rocky Point Pump Station Coll System 4, 124,000 4, 124,000 5·51 Rehabilitation of the 14th Street Pump Station Coll System 2,210,000 2,210,000 5-52 Rehabilitation of the "A" Street Pump Station Coll System 2,248,000 2,248,000 5.53 RehabH\tatJon ol ~e Bay Bridge Pump Station Coll Syste{ll 1,094,000 1,094,000 5-54 Rehabilitation of the Crystal Cove Pump Station Coll System 306,000 306,000 Miscellaneous Cap~aUmprovements, RAS Coll System 2,000,000 2.000,000 Trunk Sewer Mapping Project Coll System 20,780 20,780 Purnpstation SCADA Commun Study • RA 5 Coll System 79,000 79,000 Revenue Area 5 Total Budget 30,671,78(} 18,174,000 338,000 8,193,780 3,968,000 Revenue Area 6 2-37 Area 6 -Rehabilitation of OuUylng Pump Stations Coll System 72,000 72,000 6-13 Abandon AB Trunk, Watson and C~I Sewers Coll System 2,176,000 2,176,000 Miscellaneous Capital Improvements, RA6 Coll System 500,000 500,000 Trunk Sewer Mapping Project Coll System 16,624 16,624 Revenue Area 6 Total Buclge! 2,764,624 500,000 2,248,000 16,624 Revenue Area 7 2-37 Area 7 -Rehabilitation to Outlying Pump Stations Coll System 396,000 396,000 7-14-3 Racquet Hill Pump Station Abandonment Coll System 126,000 126,000 7-21 Sunflower Interceptor Manhole Rehab Coll System 5,387,000 5,387,000 7-23-1 College Ave. Pump Station Parallel Force Main Coll System 1,877,000 1.877.000 7-27 RA 7 Tustin Airbase· Armstrong Subtrunk Sewer Cotl System 1.731,000 1.731,000 7-32 Gisler-Red Hill Trunk Relocation Coll System 5,703,300 5,703,300 7-35 McGaw Subtrunk Sewer & Pump Statior> Aband Coll Systern 1,273,000 1,273,000 7-36 Gisler-Redhill Trunk Improvements, Reach "A" Coll System 4,025,100 4,025, 100 7-37 Gisler·Redhill System Improvements, Reach B Coll System 5,0J3,000 5,013,000 7-38 Tustin Trunk Improvements Coll System 3,656,000 3.656,000 7-39 Orange Trunk Improvements Coll System 3,941,700 3,941,700 7-40 West Trunk Improvements Coll System 496,000 496,000 7-41 Gisler-RedhUl/North Trunk Improvements Coll System 5,703,600 5,703,600 7-42 Lower Gisler-Redhill Manhole Rehab1litatlon Coll System 754,000 754,000 7-43 Upper Gisler-Redhl/I Manhole Rehab. Coll System 166,000 166,000 7-44 campus Drive Subtrunk Improvements Coll System 507,000 507,000 7-47 Replacement of tt)e College Ave, Pump Station Coll System 4,717,000 4,717,000 7-49 Rehabilitation of the MacArthur Pump Station Coll System 1,354,000 1,354,000 J-76 District-wide Geogaphical lnro System (GIS) Coll System 2,500,000 2,500,000 Miscellaneo!Js Capital Improvements, RA7 Coll System 2,000,000 2,000,000 Main-Baker force Main Ventilation Coll System 30,000 30,000 Trunk Sewer Mapping Project Coll System 24,936 24,936 Pumpstation SCADA Commun Study -RA 7 Coll System 67,000 67,000 Revenue Area 7 Total Budget 51.448,636 21,039,000 13,343,300 15,639,336 !,427,000 G:\excel.dtalfln\210\streed\00-01 budget\CIP by Status 05/02/2000 st 4:06 PM Page 3'of 7 Capital Improvement Program 2000-01 Budget By Project Status Proj # Project Description Total 8ud9et New Revised Continuing Foture Revenue Area 11 11-17-3 Goldenwest Trunk Sewer Repla~ment Coll Sysrem 4,506,000 4,506,000 11-20 Heil Avenue Interceptor CoU System 3,711,000 3,711,000 11-22 Warner Avenue Relief Sewer Coll System 3,399,000 3,399,000 11-23-1 Lateral & sewer aband at Pactric Coast Hwy Coll System 128,000 t28.000 11-25 Edlnger/Bols11 Chica Trunk lmpro\/ements Coll System 782.000 782.000 11-26 Coast Trunk Sewer Rehabilitation Coll System 1,984,000 1,984,000 11·28 Rehabilita\lon of the Edinger Pump Station Coll System 1.449,000 1.449,000 2-37 Area 11 -Rehabltltation or Outlying Pump Stns Coff System 108,000 108,000 Mlscellaneou!> Capital Improvements, RA 11 Coll Syslem 500,000 500,000 TnJnk Sewer Mapping Project Coll System 41,560 41,560 Pumpstation SCADA Commun Study -RA 11 Con System 67,000 67,000 Revenue Area 11 Total Budget 16.675.560 2,077.000 11,724,000 108,560 2,766,000 Revenue Area 14 7-27RA14 Tustm Airbase -Armstrong Subtrunl< Sewer Coll System 4.621,000 4,621.,000 Miscellaneous Capital Improvements, RA14 Coll System 200,000 200.000 Revenue Area 11 Total Budget 4,821,000 200,000 4,621,000 Total Collections System Projects Budget 297.188.994 69.669,000 61,095,300 90,148.894 76,276,000 Collections F acililles I-to Rehab. & Upgrade of Ellis Ave. Pump Stn Inter/Joint 1,605,000 f,605,000 1-2-4 Bushard Trunk Sewer Rehabilitation Inter/Joint 30,630,000 30,630,000 J-73 Co-op Projects, tnftow/Jnnll Reduction Inter/Joint 144,750,000 144,750,000 sso Training Facility Inter/Joint 63,800 63,800 Collections Facilities Total Budget 177,048,800 63,800 144,750,000 30,630,000 1,605,000 Headworks FPH 2 New Barscreens at Plant No 1 Headworks Plant 1 312.000 312,00D FP1-2 Headwor11s Pumplrig (44 mgd) · Phase 2 Plant 1 3,000,000 3,000,000 FP1-3 Headworks Pumping (44 mgd) • Phase 3 Plaril 1 4,000,000 4,000,000 FP1-4 Headworks Pumping (44 mgd) ·Phase 4 Plant 1 4,000,000 4.000,000 FP1·5 Three Grit Chambers Plant 1 6,000,000 6,000,000 FP1-6 Three Grit Chambers Plant 1 6,000,000 6,000.000 J-52 Grit Auger Replacement Inter/Joint 1,088,000 1,088,000 P1-62 Sunflower Drive Replacement Plant 1 407,200 407,200 P1-71 Headwor11s Rehabllltalion/Refurbishment Plant 1 4,330,000 4,330.()00 P1-75 Headworks Pumping (44 mgd) -Phase 1 Plant 1 5,528,000 5,526,000 P2-S6 Headworks Improvements at Plant No, 2 Plant 2 74,118,000 74,118,000 Headworks Total Budget 108,783,200 9,858,000 75,206,000 407,200 23,312,000 G:lexcel.dta\fin\210\streed\00-01 budget\CIP by Status 05/02/2000 at 4:06 PM Page 4 of 7 Capital Improvement Program 2000-01 Budget By Project Status Proj. # Project DescrlpUon Total Bud!lel New Revised Continuing Future Primary Treatment FP1-7 Tel1' Primary Clarlfiers PlaAt 1 60,000,000 60,000,000 J-71-2 Facilities Modifications tor Odor Control Plant2 276,000 276,000 Pt-37 Prl. Clanfiers 16-31 & Related Facilities Plant 1 75,150,000 7S.4S0,000 P1-81 Waste Sldestream Pump Station Upgrade Plant 1 1,069,000 1,069,000 P2-BO Primary Treatment Rehab/Refurb Plant 2 11.886.000 11,886.000 P2-85 Circular Clarifier Drive ReplacemenVupgrade Inter/Joint 5,640,000 5,840,000 Sludge Level Measurement Devlce Installation Plant 2 364,000 364,000 Sludge Density Meter Upgrades Inter/Joint 800,000 800,000 Primary Treatment Total Budget l 55,685,000 19, f66,000 76,519,000 60,000,000 Secondary Treatment J-31-4 Sec Treat. Monitor1ng &. Critn Sys Upgrade Inter/Joint 4.317,700 4,317.700 P1-76 Rel'tab Trickling Filters & Construct New Clarlfiers Plant 1 21 ,000,000 21,000,000 P1·62 Activated Sludge Plant Rehebilttation Plant 1 3,745,000 3,745,000 P2-74 Secondary Plant Rehabilitatio11 Plant 2 7.443.000 7,443,000 Activated Sludge Aeration Basin Selector Study Plant t 510,000 510,000 Oxygen Plant Replacement/RehabKtation Plant 1 110,000 110,000 Secondary Treatment Total Bt1d.get 37.125.700 4,365,000 25.317,700 7.443,000 Solids HandllrTQ & Digestion FP1-8 Two New Olgesters at Plant No Plant 1 14,600,000 14,600,000 FPHO Seven Belt Filter Presses al Plant No Plant 1 17,500.000 17,500,000 FP1-11 Two Belt Fftter Presses at Plant No 1 Plant 1 5,000,000 5,000,000 FP1-12 5 Cake Storage Hoppers at Plant No 1 Plant 1 39,000,000 39,000,000 FPH3 1 Cake Storage Hopper at Plant No 1 Plant 1 7,800,000 7,800,000 FP1·9 Four New Dlgesters al Plant No. 1 Plant 1 29.200,000 29,200,000 FP2-2 Two New Digesters at Plant No. 2 Plant 2 15,400,000 15,400,000 FP2.-3 One New Digester at Plant No 2 Plant2 7,700,000 7,700,000 FP2·4 2 Cake Stor<lge HoppefS Rehabilitation Plant 2 8,000,000 8,000,000 FP2-5 2 Cake Storage Hoppers Plant 2 16,400,000 16,400,000 FP2-7 Fiitrate Clarifier a~ Plant No. 2 Plant 2 2, 102,000 2, 102.000 P1-73 Diges!lon & Dewatering Rehab,/Refurblshment Plant 1 9.800,000 9,800,000 PHO New Belt Fiitrate Clarifier Plant 1 1,320.000 1,320,000 P2·39 Rehabilll110on of Dlgesters at Plant No. 2 Plant2 17,234,000 17,234,000 P2·60 Solids Storage and Truck Loading Facility Plant2 15,120,000 15,1.20.000 P2-81 Digestion & Dewatering Retiab /Refurbishment Plant 2 7,800,000 7.800,000 SP-30 High Rate Digester Mix Pumps Mech. Seals Plant 1 517,000 517,000 SP-37 Dewatering aett Press Rebuild Plant2 825,000 825,,000 SP·41 Bert Press Automation Special 175,000 175,000 Dewatering Belt Press RebuAd Plant 1 528,000 528,000 Sludge Grinder Replacemenl Plant 2 224,000 224,000 Dewatering Belt Press Extension Plant 2 230,000 230,000 Tule Ranch Aquisitlon/Biosollds Mgmt Needs Special 9,850,000 9,850,000 Solids Handling & Digestion Total Budget 226,325,000 19,200,000 17,234,000 17,389,000 172,502,000 G:\e~cel,dta\fin\210\streed\OO-OI budget\CIP by Status 05/02/2000 at 4:06 9M Page 5 of 7 Capital Improvement Program 2000-01 Budget By Project Status Proj.11 Project Descriptfon Tota) Budget New Revised Continuing Future Ocean Outfall Systems FP2-6 Disinfection faclllles (25 MGD) Plant 2 4,380,000 4.380,000 J-39 lnvest1gaUon and Repair or Ocean Outfalls Inter/Joint 16,907,000 16,907,000 J-77 Effluent Pumping Station Annex Inter/Joint 28,346,000 28,346,000 Ocean Outfall Systems Total Budget 49,Em,ooo 16,907,000 28,346,000 4,380,000 UtHtty Systems J-63 lmpr lo Cen-Gen Starting Air System Inter/Joint 141,000 141,000 J-71-5 Storm Drain Database Development & Tagging Inter/Joint 100,000 100,000 P1-46-2 Chemical Facility Mods. at Plant No. 1 Plant 1 3,768,000 3,768.000 P1-74 Plant Utilities Rehabifitatlon/Refurbisl1ment Plant 1 3,360,000 3,360,000 P2·47-1 Modirk:ations 10 Elec & Control Systems Plant 2 2,615,000 2,615,000 P2-61 H1gl1 Pressure Compressed Air System Plant 2 409,000 409,000 P2-79 Gas Compressor Addition at Plant No. 2 Plant 2 906,000 906,000 P2-82 U!Dfties Renabilltatfon and Refurbishment Plant 2 3,394,000 3,394,000 East and West RAS Elevator Upgrade Plant 2 106,000 1Q6,000 Underground Tank Leak Detection Upgrade Inter/Joint 120,000 120,000 Utility Systems Total Budget 14,919,000 3,686,000 10,683,000 550,000 Electrical Power Systems J-25-4 Electrtcal Power System Studies Inter/Joint 3,216,000 3,216,000 J-25-5 Elec Power System Single-line Diagrams lnle(/joint 3,368,000 3,368,000 J-33-1 Standby Power and Reliability Modifications Inter/Joint 17,370,068 17.370.068 J-47 Cable Tray Improvements at Plants 1 & 2 Inter/Joint 26,878,000 261878,000 J-79 Central Generation Automation lnter/Joinl 2,964,000 2,964,000 Electrical Power Systems Total Budget 53,796,068 2,964,000 26,878,000 23,954.068 Flow Management & Reliability J-66 Outlall Flow Meter Replacement Inter/Joint 1.12A,OOO 1, 124,000 J-67 Peak Flow Management Plant2 4,055,000 4,055,000 Flow Management & Reliability Total Budget 5.179,000 5, 179,000 Safety & Security Improvements 5400600 Security System Improvements Speclal 1,333,200 1,333,200 J-35 Area Classification Studies lnler/Joint 27,918,787 27,918.787 Process Safety Mgmt Compliance Program Inter/Joint 30,000 30,000 Safely & Security Improvements Total Budget 29,261,987 30,000 29.251,987 Procel>S Related Special Projects J-71-1 Facilities Modifications for Odor Control Inter/Joint 364.000 384,000 J-71-3 Facilities Modifications for Odor Control Inter/Joint 2,886,000 2,686,000 J-71·4 Comprehensive Odor Control Assessment lntet/Jolnt 3.,466,000 3,466,000 J-71-6 Automate foul air system condensate drainage Inter/Joint 73,000 73,000 J-78 Thermal Insulation Management Program Inter/Joint 800,000 800,000 Managed Maintenance Program Inter/Joint 870,000 870,000 Hazardous Energy Control Procedures Inter/Join! 1, 190,000 1,190,000 Process Related Special Projects Total Budget 9,469,000 8,279,000 1.190,000 G:\excel.dta\fln\210\streed\00-01 budget\CIP by Status 05/02/2000 at 4:06 PM Page 6 of 7 Capital Improvement Program 2000-01 Budget By Project Status Proj. # Project Description Total Bud~et New Revised Conijnuing Future Strategic & Master Planning J-40-3 Strategic Plan -Phase 2 Special 2,193,342 2.193,342 J-40-4 Strategic Plan Program EIR Special 1.119.329 1.119,329 Plant O&M Manual & SOP Project· Phase I Special 4,000,000 4,000,000 Strategic & Master Planning Total Budget 7.312,671 4,000,000 3,312,671 Water Management Projects J-36 Groundwater Replenisnment System Inter/ Joint 178,222,000 178,222,000 J-72 Water Conservation Special 4.644,000 4,644,000 J-73-2 Long Term Permanent Monitoring Program Inter/Joint 5,000,000 5,000,000 Water Management ProJects Total Budget 187 ,866,000 5.000,000 178,222,000 .<1,644,000 Research & Development .l-44R Stand.ird Specilicatlon Revisions & Updates Inter/Joint 200,000 200.000 Spcl ProJ lor FY 00-01: Solids Processing Spec/al 675,000 675,000 Spcl Proj for FY 00-2001: liquid Streams Special 215,000 215,000 Spc Pro/ 00-01: Odor Control/Reg Cornpliance Special 651,000 651,000 Research & Oeveloprnent Total Budget 1.741,000 866,000 875,000 Plant Automation & Computerization J-33-3 Power Monitoring and Control Systems lnter/Jo[nt 3,356,000 3,356,000 J-42 Plant Reinvention I Automation Project Inter/Joint 25.760,41 1 25,760,411 SCADA System Replacement Study tnter/Jolnl 310,000 310,000 SCADA Graphics Tagging Update Inter/Joint 670,000 670,000 Plant 2 Dewatering PLC SCADA Upgrade Plant 2 281,000 281,000 Plant Automation & Computerization Total Budget 30,377.411 1.261,000 3,356,000 25,760,411 Information Management & Computerization 5400700 Voice-Data Building ReWlring Special 679,480 679,480 5400800 Netwofl\ Backbone Upgrade Continuation Inter/Joint 1,4S7,000 1,497,000 5403100 Field Fiber Optic Terminal Standardization Special 324,630 324.630 5403200 Field Fiber Optic Upgrades Inter/Joint 660,000 660,000 5404400 Replacement of lnterplant Fiber Optics Special 499,000 499,000 J-25-1 Computerized Facility Recs & Dwg. System Inter/Joint 4,955,873 4,955,873 SP-01 Document Management Special 864,000 864,000 SP-02 Data Integration Special 4,334,000 4,334,000 SP-03 Strategic Information Arclii!ecture (SIA) Special 724,000 724,000 SP-04 CMMS Programming Special 490,000 490,000 SP-13 Source Control Programming Special 576,000 576,000 SP-15 Geographic Information System Special 4.156,000 4, 156,000 SP-36 Automation Report Publishing Special 195,000 195,000 Records Management Program Special 255,000 255,000 Internet E-mail Browsihg (Website) Inter/Joint 300,000 300,000 Information TeGhnology Disaster Recovery Inter/Joint 140,000 140,000 Specialized Process Network Inter/Joint 106,000 106,000 FIS Upgrade Inter/Joint 1.orio ooo 1.850.000 Intranet Application Development Speclal J1)0,00!) 300,000 Windows 2000 Mtgrallon Special 333,000 333,000 G:lexoel dta\11n\210\streed\00-01 budget\CIP by S1atus 05/02/2000 at 4:06 PM Page i of 7 Capital Improvement Program 2000-01 Budget By Project Status Proj # Project Description Tola! Budge! New Revised Continuing Future Office 2000 Upgrade Special 69,000 69,000 SCADA Communications -Ettierriel Study .Special 157 ,000 157,000 Tolal Information Management & Computerizatfo11 23.,464,983 2,498,000 5,934.480 15,032,503 Mlscella11eous & Support Projects FE-J Facnfties Eng1neering Projects Inter/Joint 20,000,000 20,000,000 FE-P1 f acilities Engineering Projects Plant 1 20,000,000 20,000,000 FE-P2 Facnities Engineering Projects Plant 2 20,000,000 20.000,000 J-62 Modifications to Existing Mech, Systems Inter/Joint 2,694,000 2,694,000 J-69 Bldg. and Admin. Area Rehab/Refurbishment I (lier/ Joint 1.455,000 1.455,000 J-80 HVAC Equipment Replacement at Plants 1& 2 lnterlJoint 757,000 757,000 P2-84 Landscape and Irrigation a\ Plant No. 2 Plant 2 810,000 810,000 SP-34 Small Cap, Equip. Repleoemen\ Project lnler/Joinl 740,000 740,000 Scrubber Chem Feed System Mods Special 796,000 796,000 Warehouse Reinvention Projecl Inter/Joint 600,000 600,000 Alarm System for ES~ and ECM Instruments Plant 1 75,000 75,000 Total Miscellaneous & Support Projects 67,927,000 2,242,000 740.000 63.490,000 1,455,000 Eguiement Districts Capital Equipment Budget Equipment 2,912,000 2,912.000 Equipment Total Budget 2.912,000 2,912,000 Total Treatment, Disposal and Special Projects 1.188.846.820 82,390,800 515.597.180 320.161,840 270,697 ,000 Total Capital Improvement Program 1.486.035.814 152.059.800 576 ,692.480 410,310.534 346,973.000 G:\excel.dta\fin\210\streed\00-01 budget\CIP by Status 05/02/2000 at 4:06 PM Page 1-of 7 Capital Improvement Program Preliminary Cash Flow Requirements Proj.# Pro]~ Descrletlon Status Cosl To-Dale BUdflel Left 2001 Budaet 2002 Bud11et 2003 Budget 2004 BUd9et 2005 Blldget TAButlget Total SUd!jet Revenue Area 1 1-17 Sanla Ana Trunk Sewer Rehab Revised 80.000 7,414,000 66,080 1,662,920 5,685,000 7,494,000 1-20 Greenville-Sullivan MH Rehab, Future 729,000 729,000 729,000 1-21 RaitlStreel MH RehabMltalion Future 630,000 630.000 630,000 1-22 Lower Main-Broadway MH Rehabilitation Future 795.000 795,000 795,000 Miscellaneous Capital Improvements. RA 1 New 500,000 13,636 18,182 22,72.7 27,273 31,818 386,364 500,000 Revenue Area 1 Total Budget 80 000 10,068,000 79,716 1,681,102 5,707.727 27,273 31,818 2,540,364 10, 148,000 Revenue Area 2 2·21-1 Carbon Canyon Darn Interceptor Parallel Sewer Contlnuing 51,000 4,956, 139 210,280 1,334,005 2,062,283 1,349,571 5,007,139 2-24-1 Carbon Cyn Sewer& Pump Sin. Abandonment Continuing 81 ,000 2,603,000 43,000 114,000 1,264,800 1, 181 ,200 2,684,000 2-31 Santa Ana River Interceptor Relief Sewer Continuing 66,000 11,787,000 146,000 396,810 507,190 2,748,300 3,664,400 4,325,300 11,853.000 2-37 Area 2 -Rehabllltation of Outlying Pump Slatlons Revised 103,000 11.000 2,900 14,100 120,000 2-41 Santa Ana River Inter Realignment and Proleclion Continuing t,722.000 29.716.000 499.060 567,900 2.852,220 11,590,500 14,206,320 31,438,000 2-42 Abandonment or Yorba Unda Pump Station Future 280.000 280,000 280,000 2-46 Newhope-Placentia Trunk Re:placement Future 12,745.000 12.745,000 12,745,000 2-47 Cypress Avenue Trunk Replacement Future ;!,380.000 3.380.000 .3.380,000 2-49 Taft Branch Improvements New 4.742,000 7,300 7,300 4,000 193.900 4.529,500 .4,742,000 2·50 Atwood Subtrunk Improvements Continuing 58,000 1,831,800 92,010 224, 190 194,790 1,320.810 1,889,800 2·51 Lower Santa Ana River Interceptor Jmprovemetils Future 19,817,000 19,617.000 19,617,000 2-52 Euclid Relief Improvements -Reach ''A" Continuing 17,000 10,814,000 302,120 4,531,880 5.980,000 10,831.000 2-53 Euclicl Relier Improvements· Reach "B" Future s,210,000 5,210,000 5,210,000 2·54 Upper Newhope-Plaoentla Trunk Manhole Rehab. FUture 1,746,000 1,746,000 1,746,000 2-55 Lower Newhope-Placentla Trun~ Manhole Rehab Future 2,222,000 2,222.000 2,222,000 2-56 Santa Ana River Interceptor Manhole Rehab Fulure 662,000 662,000 662,000 2-57 South Anaheim Interceptor Manhole Rehcib. Future 1,270,000 1.270,000 1,270,000 2-58 Santa Ana River Reltef Sewer. Reach B Future 12,975,000 259,750 12.715,250 12.975,000 Miscellaneous Capital Improvements, RA2 New 2,000,000 54,545 72,727 90,909 109,091 127.273 1,545,455 2,000,000 Trunk Sewer Mapptng Project Continuing 44.250 80,430 80,430 124,680 Revenue Area 2 Total Budget 2, 142,250 128,654,369 1,135,525 2,730,032 7,278,312 23,025,252 28,767,243 65.718,005 tao:1s6,619 Revooue Area 3 2-37 Area 3 -Rehabilitation of Outlying Pump Statioris Revised 144,000 24,000 4,400 19,600 168,000 3-2-1 Replace Miiier Holder Trunk Sewer Siphon Conllnlling 119.000 1,877,000 48,930 1,828<070 1,996,000 3-25 Orange-Western Subtrunk Renef Sewer New 46,000 1, 166,000 1,186,000 1.232,000 3-35R Rehabilitation of the Magnolia Trunk Sewer Revised 8, 140,000 2,212,000 2,212,000 (0,352,000 3-35R-2 Rehabilitation of Magnolia Trunk Sewer, Phase 2 New 49,00P 12,078,000 4.526,200 7.551.800 12,127.000 3-38-1 MIJler-Holder rrunk Sewer System, Reach 1 Revised 7,035,000 3,654,000 3,654,000 10,689,000 3-42 Westside Reliet Interceptor Parallel Future 4,650,000 4,650,000 4,650,000 3-45 Trask Branch of the Hoover-Western Subtrunlc Future 542,000 .542,000 542,000 3-49 west Side Inter/ L.os Alamilos Manhole Rehab. Future 662,000 662,000 662,000 3-51 Rehabilitation of Iha Seal Beach Pump Station New 3,083,000 53,400 481,600 1,618,400 929,600 3,083,000 3-52 Rehabilitation of the WEtStslde Pump Station New 1,619,000 128,000 307,900 797,900 385,200 1,619.000 3-9-1 Mods. to Magnolia Relief Sewer in Western Ave ConUnulng 136,290 72,557 72,557 208,847 Miscellaneous Capital Improvements. RA3 New 2.000.000 54,545 72,727 90,909 109,091 127,273 1,545,455 2,000,000 Phase 2 Corrosion Assessment New 68,000 68,000 68,000 Continous Feed Chemical Treatment Facilily New 308,000 119,000 189,000 308,000 Trunk Sewer Mapping Project Coritinulng 56,050 101,878 101,878 157,928 Revenue Area 3 Total Budget 15,725,340 34,137,435 7,521,310 2,237,397 452.209 1,388,591 6,657,073 15,680,655 49,862,775 G:\excel.dtaltin\210\streed\00-01 budget\5 year CIP Cash Flow 04/26/2000 at 11:35 AM Pro}. # Project Description Revenue Area 5 2-37 Area 5 • Rehabilitation of Outlying Pump Stations 5-43 Big Canyon Off site Sewer Rehab~itation 5-46 5.47 5.49 5·50 5·51 5·52 5.53 5-54 Replacement of Back Bay Trunk Sewer Balboa Trunk Sewer RetiabRltation Replacement or lhe Bitter Point Pump Statfon Replacement of fhe Rocky Point Pump Station Rehabilitation of the 14th Street Pump Slatlori Rehabilllallon of the "A" Street Pump Station RehabllltaUon of the Bay Brldge Pump SlaUon Rehabllltatlon of the Crystal Cove Pump Station Miscellaneous Capftal Improvements, RAS Trunk Sewer Mapping Project Pumpstatlon SGADA Commun Study • RA s Revenue Area 5 Total Budget Revenue Area 6 2-37 6·13 Area 6 • Rehabmtation of Outlying Pump Stations Abandon AB Trunk, Watson and Cal Sewers Mi$eellaneous Capital Improvements, RAG T rurik Sewer Mapping Project Revenue Area 6 Total Budget Revenue Area 7 2-37 7.14.3 Area 7 • RehabOitation to Outly]ng Pump Stations Racquet Hiii Pump Station Abandonment 7-21 Sunflower Interceptor Manhole Rehab. 7-23·1 College Ave Pump Station Parallel Force Main 1·27 RA 7 Tustin Airbase · Armstrong Subtrunk Sewer 7·32 Gisler-Red Hill Trunk Relocation 7.35 McGaw Subtrunk Sewer & Pump Statfon Aband 7-36 Gisler-Redhill Trun~ Improvements, Reach "A" 7-37 Gisler-Redhill System Improvements. Reach B 7-38 Tust1n Trunk Improvements 7·39 Orange Trunk Improvements 7-40 West Trunk Improvements 7-41 Gisler-Redhill/North Trunk Improvements 7-42 Lower Gisler-Redhill Manhole Rehabilltatfon 7·43 Upper Gisler-Redhill Manhole Rehab. 7.44 Campus Drive Subtrunk Improvements 7-47 Replacemen\ of the College Ave, Pump Station 7-49 Rehabilitation of the MacArthur Pump Station J-76 District-wide Geogaphieal Info System (GIS) Miscellaneous Capital Improvements, RA7 Main-Baker Force Main Ventilation Trunk Sewer Mappln9 Project Pumpstation SCADA Commun Study · RA 7 Revenue Area 7 Total Budget Status Revised New Continuing Future New New New New New New New Continulng Continuing Revised Revised New Continuing Revised Revised Revised Continuing Revised Revised New Contlnuing New New Continuing New Continuing Future Fu1ure Future New New New New New Continuing Continuing G;\excel.dtalfln\210\slreed\OO·Oi b!Jdget\5 year CIP Cash Flow Capital Improvement Program Preliminary Cash Flow Requirements Cost To-Date 289,000 187.000 7,375 483,375 62,000 110,000 5.900 177,900 340,000 32,000 131,000 71.000 72.000 11,000 46,000 20,000 19,000 2.S,000 8,850 776,850 Budget Left 47,000 2,713,000 7,907.000 3,968,000 3,479,000 <!. 124,000 2,210,000 2,246,000 1,094.000 306,000 2,000,000 13.405 79,000 30.188,405 10.000 2,066,000 500,000 10,724 2.586,724 56,000 94.000 5,256.000 1,806,000 1,659,000 5.692,300 1,227,000 4,005.100 5.013,000 3,656,000 3,922,700 496.000 5,678,600 754,000 166,000 507,000 4,717.000 1,3'54,000 2,500,000 2,000,000 30,000 16,086 67.000 50,672,766 2001 Budget 1,560 37,500 1,767.440 97,900 117.950 187,800 193,400 71 .850 46,000 54,545 13,405 79,000 2,668,350 1,400 13,636 10,724 25,760 1,960 65,760 234.100 23,000 235,660 68,500 59,300 166,010 9.200 227,710 300,000 54,545 30,000 16,066 67,000 1,558,631 2002 Budget 45,440 195,500 6,139,560 320.100 384,550 437,800 444,200 78.750 62,500 72.727 8.181,127 8,600 18.182 26,782 54,040 28,240 1,42<\.900 771,750 860,360 851,900 380,700 827, 130 223.300 1,160,010 307.500 72,727 6.962.557 2003 Budget 2.460,000 380,000 450,800 1.584,400 1.610.400 614.200 197,SOO 90,909 7.408,209 22.727 22,727 269, 150 432,250 2,017,820 1,607,000 1,308,000 1.743,420 263,500 2,468,160 43.200 450,000 90,909 10.693,409 2004 Budget 1,729.200 2,044,950 329.200 109,091 4,212,441 27.273 27,273 2.194,850 891,260 2,285,600 1,908,000 1, 186,140 423.800 34,500 452,500 109,091 11:308.461 2005 Budget 951 ,800 I, 125.750 127,273 2,204 823 135,000 31,818 166,818 2,792,000 172,000 1.286,300 91,000 990,000 127,273 5.458,573 Page 2 of7 TA Budget 3,968,000 1.545,455 5.513.455 1,931,000 386,364 2,317,364 i,634,000 5,692,300 754,00.0 166,000 507,000 2,963,700 1,228,SOO 1.545,455 14,490,955 Total Budget 336,000 2,713,000 6,094,000 3,968,000 3,479,000 4, 124,000 2,210,000 2,248,000 1,094,000 306,000 2,000,000 20,780 79,000 30,671,780 72,000 2, 176.000 500,000 16,624 2,764,624 396,000 126,000 5,387,000 1.877.000 1,731 ,000 5,703,300 1.273.000 4,025,100 5,013,000 3,656,000 3.941,700 496,000 5,703,600 754,000 166,000 507,000 4,717,000 1,354,000 2,500,000 2,000,000 30,000 24,936 67,000 51,446,636 04126/2000 at 11 :35 AM Page j of7 Capital Improvement Program Preliminary Cash Flow Requirements Proj. # Project Description Status Cost To-Date Bud9et Left 2001 Bud!i!et 2002 Budget 2003 Budget 2004 Budget 2005 Bud~et TABud11et Total Budget Revenue Area 11 11-17-3 Goldenwesl Trunk Sewer Replacement Revised 2,027.000 2.479.000 1.323,600 1,155,400 4,506.000 11-20 Heil Avenue Interceptor Revised 806,000 2,905,000 1,956,400 948,600 3,111.000 11-22 Warner Avenue Relief Sewer Revised 144,000 3,255,000 178,000 2,007,750 1,069,250 3,399,000 11-23-1 Lateral & sewer aband al Pacilic Coast Hwy New 128,000 50,800 77.200 128,000 11-25 Edinger/Balsa Chfca Trunk Improvements Future 782,000 782,000 782,000 11-26 Coast Trunk Se'Ner Rehabilitation Future 1,98~.ooo 9,90.0 1.974,100 1,984,000 11-28 Retiabilitatlon of the Edinger Pump Station New 1,449,000 24,600 228,400 764,800 431.200 1,449.000 2-37 Area 11 -Rehabilitation of Outlying Pump Stns. Revised 93,000 15,000 2,100 12,900 108,000 Miscellaneous Capital Improvements. RA 11 New 500,000 45,800 45,800 45,800 45,800 45,800 271,000 500,000 Trunk Sewer Mapping Project Continuing 14,750 26,810 26,810 41,560 Pumpslation SCADA Commun Study -RA 11 Continuing 67,000 67,000 67,000 Revenue Area 11 Total Budget 3,084.750 13,590,810 3,675.110 4,485.950 \.879 . .SSO 477,000 45,800 3,027.100 16,675,560 Revenue Area 14 7-27 RA14 Tustin Alrbase-Armslrong Subtrunk Sewer Revised 198,00.0 4,423,000 588,900 3,834, 100 4,621.000 Misoellapeous Capital Improvements, RA 14 New 200,000 5,455 7,273 9,091 10,909 12,727 154,546 200,000 Revenue Area 14 Total Budge\ 198 000 4,623.000 594,355 3,84t,373 9,091 10,909 12.727 154,546 4,821,000 Total Collections System Projects Budge! 22,667,465 274,521,529 17,258,959 30,146.320 33,651,535 40,477,199 43,344,874 109,642,641 297,188,994 Collections Facilities HO Rehab. & Upgrade ol Ellis Ave Pump Stn Future 1,605,000 1.605,000 1,605,000 1-2-4 Bushard Trunk Sewer RehabilitaUon Continuing 106,000 30,524,000 534,350 248,600 14,936,850 14,804,200 30,630,000 J-73 Co-op Projects, Inflow/Infill. Reduct1on Revised 291,000 144,459,000 2,751,600 3,001,600 3,001,600 3,001,600 3,001,600 129,701,000 144,750,000 SSO Training F acillty New 63,800 63,800 63,800 Collections Facllllies Total Budget 397,000 176,651,800 3,349,750 3,250,200 3,001.600 3,001,600 17,938,450 146,110,200 177,048,800 Headworks FPl-1 2 New Barscreens al Plant No 1 Headworks future 312,000 312,000 312,000 FP1-2 Headworks Pumping (44 mgd) -Phase 2 Future 3,000,000 150,000 2,850,000 3,000,000 FP1-3 Headworks Pumping (44 mgd)-Phase 3 future 4,000,000 4,000,000 4,000,000 FP1-4 Headworks Pumping (44 mgd) -Phase 4 Fu lure 4,000,000 4,000,000 4,00Q,000 FP1-5 Three Grit Chambers FlJture 6,000,00Q JOO.ODO 5,700,000 li,000,000 FPH Three Grit Chambers Future 6,000,000 6,000,000 6,000,000 J-52 Grit Auger Replacement Rev1sed 123,0(>0 965.0QO 608,800 356,200 1,088,000 P1..S2 Sur;t(ower Onve Replacement Coritinuing 75,800 331,400 246,545 84,855 407,200 P1-71 Headworks RehabilitaUon/Refu!bishment New 4,330,000 30,000 310,000 1,800,000 2, 190,000 4,330,000 P1-75 Headworks Pumping (44 mgd) -Phase 1 New 5,528,000 50,000 415.000 5,053,000 5,528,000 P2-66 Headworks Improvements at Plant No 2 Revised 218,000 73,900,000 132,720 1,590,300 1,660,980 13,265,750 18,577,650 3B,6n,soo 74,118,000 Headworks Total Budget 416.800 108,366,400 1,018,065 2,341,355 3.460,980 15,505,750 19.442,650 66,597,600 108,783,200 G:\excel.dta\fln\210\streed\00-01 budget\5 year CIP Cash Flow 04/26/2000 at 11 :35 AM Page 4of7 Capital Improvement Program Preliminary Cash Flow Requ irements Proj. # Project Description Status Cost lo-Date Budget Lefl 2001 Budget 2002 Budget 2003 Bud~et 2004 Budget 2005 Budget TA Budget Total Budget Primary Treatment FP1-7 Ten Primary Clarffiers Future 60,000,000 60,000,000 60,000.000 J-71-2 Facilities Modifications for Odor Control New 29,000 247,000 247,000 276,000 P1-37 Pri. Clarifiers 16-31 & Related Facilities Continuing 3,058,000 72,392,000 6,646.760 28,756,230 36,989,010 75,450,000 P1-81 Waste Sidestream Pump Station Upgrade Continuing 55.000 1.014.000 566,800 447.200 1',069,000 P2-80 Primary Treatment Rehab/Refurb New 11.686,000 70,000 1.082,000 6,348,000 4,386,000 11,886,000 PZ-8S Circular Clarifier Drive ReplacemenVupgrade New 5,840,000 344,400 1,852,320 3,643,280 5,840,000 Stodge Level Measurement Device lnstanalion New 364,000 364.000 364,000 Sludge Density Meter Upgrades New 800,000 80,000 720,000 800,000 Primary Treatment Total Budget 3,142,000 152,543.000 8,248,960 31,775,750 40,702.290 1,082,QOO 6,348,000 64,386,000 155,685,000 Secondary Treatment J~1-·4 Sec Treat, Monitoring & Cnlrl Sys Upgrade Revised 429,900 3,887,800 901,4SO 840.780 2, 145,560 4,317.700 P\-76 Rehab Trickling Filters 8 Construct New Clarifier; Revi~ed 21.000 20,979,000 494,300 2.422,250 7,372,050 10,690.400 21,000,000 P1-82 Activated Sludge Plant Rehabilitation New 3,745,000 312,000 1.105,500 2.327.500 3, 745,000 P2-14 Secondary Plant Rehabilitation Future 7.443,000 380,000 1,022.800 4,302.400 1,737,600 7,443,000 Activated Sludge Aeration Basin Selector Study New 510,000 200,000 310,000 510.000 Oxygeo Plant ReplacemenVRehablllation New 110,000 110.000 110.000 Secondary Treatment Tolal Budget 450,900 36,674,800 2,017,760 5,058,530 12.867,910 14.992,800 1,737,800 0 37, 125,700 Solfds Handling & Digestion FP1-8 Two New Digeslers at Plant No Future 14,600,000 2,336,000 12.264,000 14,600,000 FP1-10 Severi Belt Filter Presses at Plant No Future 17,500,000 17,500,000 17,500,000 FPH1 Two Belt Fnter Presses at Plant. No 1 future 5,000,000 5,000,000 5,000,000 FP1-12 5 Cake SIOrage Hoppers at Plant No I future 39,000,000 390,000 38,610,000 39,000,000 FP1-13 1 Cake Storage Hopper al Pla.nt No. 1 Future 7,800,000 7,800,000 7,800,000 FP1-9 Four New Digesters at Plant No 1 Future 29,200,000 29.200,000 ~9.200,000 FP2-2 Two New Digesters at Plant No 2 Future 15,400.000 15.400.000 15.400,000 FP2-3 One New Digester at Plant No 2 Future 7,700,000 7,700,000 7,700,000 FP2-4 2 Cake Storage Hoppers Rehabilitation Future 8,000,000 8,000,000 8,000,000 FP2-5 2 Cake Storage Hoppers Future 15,400,000 16,400,000 16,400,000 FP2·7 Filtrate Clarifier at Plant No. 2 Future 2, 102,000 105,000 370,900 1,626,100 2, 102,000 P1·73 Digestion & Dewalering Rehab /Rerurbishment Future 9.800.000 24,990 9.775,010 9,800,000 P1-80 New Belt Filtrate Clarifier New 1,320,000 41,000 293,800 985,200 1.320,000 P2-39 Rehabilttallon of Oigesters at PJant No. 2 Revised 7,500,000 9,734,000 3,929,180 5,210,480 594,340 17,234,000 P2-60 Solids Storage and Truck Loading Facility Contfnuing 958,000 14.162,QOO 2,632,060 6,534,500 4,995,440 15, 120,000 P2-81 Digestion & Oewatering Rehab./Refurbishment New 7,800,000 66.000 462,000 4.352,QOO 2,920,000 7,600,000 SP-30 Hfgh Rate Digester Mix Pumps Mech. Seals Continuing 92,000 425,000 425,000 517,000 SP-37 Dewatering Belt Press Rebuild Contlnufng 105,000 720,000 326.150 330,000 63,850 625,000 SP-41 Belt Press Automation Contlnufng 84,000 91,000 91,000 175,000 Dewatering Belt Press Rebuild Continuing 80,000 448,000 210.400 184,600 52,800 528,000 Sludge Grinder Replacement Continuing 2,000 222,000 222.000 224,000 Dewate(jng Belt Press Extension New 230,000 230,000 230,000 Tule Ranch Aquisilton/Biosolids Mgmt Needs New 3,500,000 6,350,000 4,850,000 1,500,000 9,850,000 Solids Handling & Digestion Total Budget 12,321,000 214,004,000 12,981,790 14,367,780 10,723, 130 5,531,300 2,750,990 167,649,010 226,325,000 G:\excel.dta\fin\210\streed\00-01 bud9et\S year CIP Cash Flow 04f26f2ooo at 11 :35·.'\M Page~ of7 Capital Improvement Program Preliminary Cash Flow Requirements Pro!# Project Description Status Coat To-Date Budgellefl 2001 Budget 2002 Budget 2003 Budget 2004 Budge! 2005 Bud~et TABud!jet Total Budget Ocean Outfall Systems FP2·6 Disinfection facllltes (25 MGD) Future 4,380,000 4,380,000 4,380,000, J-39 lnvestigaUon and Repair of Oc:ean Outfalls Revised 1,274,000 15,633,000 15,633,000 16,907.000 J-77 Effluent Pumping Station Annex Continuing 146,000 28,200,000 859,200 3,520,800 10,571,500 13,248,500 28,346,000 Ocean Outfall Systems Total Budget 1.420.000 48,213,000 859,200 3,520,800 10,571,500 13,248.500 0 20,013.000 49,633,000 Utility Systems J.63 lmpr. to Ceo-Gen Starting Air System Continuing 79,000 62,000 62,000 141.000 J-71-5 Storm Drain Database Development & Tagging New 100,000 100,000 100,000 P1-46-2 Chemical 'Facility Mods at Plant No. 1 Revised 3,069,000 699,000 699,00Q 3,768,000 P1-74 Plant Utilities Rehabilitation/Refurbishment New 3,360,000 125,000 288,00() 1,768.250 1, 178.750 3,360,000 P2-47-1 Modttlcations to Elec. & Control Systems Revised 2.102.000 513,000 483,200 29,800 2,615,000 P2-61 High Pressure Compressed Alr System Continuing 335,000 74.000 74,000 409,000 P2-79 Gas Compressor Addi~on at Plant No. 2 Revised 13,000 893.000 299.000 594.000 906,000 P2-82 Utilities Reliabimation end Relurbishment Revised 87,000 3,307.000 312.300 2.159,100 835,600 3,394,000 East and West RAS Elevator Upgrade New 106.000 106,000 106,000 Underground Tank Leak Detection Upgrade New 120,000 120.000 120,000 Utllity Systems Total Budget 5,685,000 9,234,000 2,255,500 2,907,900 1, 123,600 1,768,250 1, 178,750 0 14,919,000 Electrical Power Systems J-25-4 Electrical Power System Studies Continuing 1,215,000 2,001,000 488,160 1,512,640 3,216,000 J-25-5 Elec Power System Single-line Diagrams Continuing 10.000 3,358,000 1,340,400 2,017,600 3,366,000 J-33-1 Standby Power and Reliability Modlficalions Continuing 5,719,268 '1,650,800 1,527,661 7,598,506 2,524,433 17,370,068 J.47 Cable Tray Improvements at Plants 1 & 2 Revised 682,000 26.196,000 57,240 1.484,530 2,060,070 6,034,440 5,622.470 10,937,250 26,878,000 ,J-79 Central Generation Automation New 2,954,000 100.700 547,600 2,315.700 2,964,000 Electrical Power Systems Total Budget 7,626,268 46, 169,800 2.173,961 12,483,876 8,917,803 6,034,440 5,622.470 10,937,250 53,796,068 Flow Management & Relfability .l-66 Outfall Flow Meter Replacement Revised 76,000 1,048,000 380.400 667,600 1, 124,000 J-67 Peak Flow Management Revised 54,000 4,001,000 484,400 952.400 1,403,000 1,161,200 4,055,000 Flow Management & Relfability Total Budget 130,000 5,049,000 864,800 1,620,000 1,403,000 1.161,200 0 0 5,179,000 Safety &. SecufllY Improvements 5400600 Security System Improvements Continuing 470,200 863,000 383,362 479,638 1,333,200 J-35 Area Classificaliori Studies Contfnui(lg 679,787 27,239,000 1,277,904 5,233,0.96 9,280,000 11,448,000 27,918,787 Process Safety Mgmt Compliance Program New 30,000 30,000 30,00() Safety & Secority Improvements Total Budget 1,149,987 28,132,000 1,691,266 5,712,734 9,280,000 11,448,000 0 0 29,281,987 Process Related Special Projects J-71-1 Facilities Modlncations for Odor Control Naw 37,000 347.000 347,000 384,000 J-71-3 Facilities Modifir.a{ions for Odor Control New 90,000 2,596,000 380,000 1.340,000 876,000 2,686,000 J-71-4 Comprehensive Odor Control Assessment New 20,000 3,446,000 69,900 1,086',300 2,289,800 3,466,000 J-71-6 Automale foul air system condensate drainage New 73,000 73,000 73,000 J-78 Thermal Insulation Managemeot Program New 800,000 49,030 499,570 251,400 800,000 Managed Maintenance Program New 870,000 348,000 348,000 174,000 870,000 Hazardous Energy Control Procedures Revised 100.000 1,090,000 447,400 452,200 190,400 1,190,000 Process Rela\ed Special Projeottt Total Budget 247,000 9,222,000 1,714,330 3.726,070 3,781,BOO 0 0 0 9,469,000 G:\e.xoetdtalfin\210\streed\00•01 b~clget\5 year CIP Cash Flow 04/26/2000 at 11 :35 AM Page 6 of7 Capital Improvement Program Prelfminary Cash Flow Requirements Proj # Project Descnpllon Status Cost To-Date BUd~el left 2001 Budget 2002 Budget 2003 Budget 2004 Budget 2005 Budget TA Budget Total Budget Strategic & Master Planning J-40-3 Strategic Plan • Phase 2 Continuing 1.931,342 262,000 95,781 55,909 110,309 2, 193,342 J-40-4 Strategic Plan Program EIR Continuing 860,329 259,000 32,777 38,413 187,810 1,119,329 Plant O&M Manual & SOP Project -Phase I Revised 10,000 J,990,000 1,608,000 1.588,000 794,000 4,000,000 Strategic & Master Planning Total Budget 2,801,671 4,511,000 1,736,558 1,682.323 1,092,119 0 0 0 7,312,671 Water Man~ement Proiects J-36 Groundwater Replenishment System Revised 2,222,000 176,000,000 2,329,100 4,818,800 24,486,200 48,738,900 95,627,000 178,222,000 J-72 Water ConserVatlon Continuing 743,000 3,901,000 418,000 464,400 464,400 464,400 464,400 1,625.400 4,644,000 J-73-2 Long Term Permanent Monitoring Program New 5,000,000 3,358,000 208,400 208,400 208,400 208,400 808.400 5,000,000 Water Management Projects Total Budget 2,965,000 184,901,000 6, 105, 100 5,491,600 25,159,000 49.411.700 86,299,800 2.433,800 187,866,000 Research & Development J-44R Standard Specitlcation Revisions & Updates Continuing 200,000 20,000 20,000 '20,000 20,000 20,000 100,000 200,000 Spcl Proj for FY 00-01 ~ Solids Prooessihg Continulng 417.000 256,000 258,000 675.000 Spcl Proi for FY 00-2001: Liquid Streams New 215,000 215,000 215,000 Spa Pro) 00•01; Odor Control/Reg Compliance New 651,000 651,000 651,000 Research & Development Total Budget 417,000 1,324,000 1, 144,000 20,000 20,000 20,000 20,000 100,000 1,741,000 Plant Automation & Computerization J-33-3 Power Moriitorfng and Control Systems Revised 3,356.000 374,350 766,850 1.491,700 723,100 3,356,000 J-42 Plant Reinvention I Automation Project Continuing 4,847,411 20,913,000 2,659,926 5,402,92A 7,576,020 5,274,130 25",760,411 SCADA System Replacement Study New 310,000 310,000 310,000 SCADA Graphics TE1ggirig Update New 670,000 458,250 211,750 670.000 Plant 2 Dewatering PLC SCADA Upgrade New 281,000 281,000 281,000 Plant Automation & Computerization Total Budget 4,847,411 25,530,000 4,083,526 6,381,524 9,067,720 5,997,230 0 0 30,377,411 Information Management & Computerization 5400700 Voice-Data Building Rewiring Revised 629.480 50,000 50,000 679.480 5400800 Network Backborie Upgrade Continuation Continuing 608,000 889,000 133,920 318,360 289,800 146,900 1,497,000 5403100 Field Ffber Oplic Terminal Standardlza1ion Conllnulng 115,130 209.500 209,500 324,630 5403200 Field Aber Optic Upgrades Continuing 376,000 284,000 264,000 660,000 5404400 Replacement of lnterplant Fiber Optics Revised 54,000 445,000 445,000 499,000 J,25-1 Computerized Facility Recs. & Dwg, System Continuing 3,221,073 1,734,600 908.930 825,870 4,955,873 SP-01 Documenl Management Continuing 305,000 559,000 559,000 864,000 SP-02 Data lnlegratlon Continuing 1.946.000 2.366,000 558,710 551,960 467,600 401,650 386,060 1.334.000 SP-03 Strategic Information Architec1ure (SIA) Continuing 270.000 454,000 156,840 159.120 138,040 724,ooo SP·04 CMMS Programming Continuing 305,000 185,000 128,690 56,310 490,000 SP-13 Source Control Programming Continuing 334,000 242,QOO 79,860 79,860 82.280 576,000 SP·15 Geographic Information Sys1em Revised 75,000 4,081 ,000 978,080 1.220,eoo 868,880 37'4,620 632,620 4, 156,000 SP-36 Automation Report Publishing Continuing 115,000 80,000 39,250 40.750 195,000 Records Management Program Continuing 90,000 165,000 165,000 255,000 Internet E-mail Browsing (Website) Revised 110.000 130,000 91,000 39,000 300,000 Information Technology Dfsaster Recovery New 140,000 91,250 48,750 140,000 Specfailzed Process Network New i06,000 99,750 6,250 106,000 FIS Upgrade New 1,850,000 1,281,250 221.750 213,2.50 133.750 1,850,000 Intranet Applicatlon Development Revjsed 74,000 226,000 135,600 67,800 22,600 300,000 Windows 2000 Migration New 333,000 333,000 333,000 G:le>:cel.dtalfin\210\streed\00-01 budget\5 year CIP Cash Flow 04/26/2000 at 11 :3&' AM Page 't of 7 Capital Improvement Program Preliminary Cash Flow Requirements Proj # Project Description Status Cost To-Dale Bud~etleft 2001 Budget 2002 Budget 2003 Budget 2004 Budge\ 2005 Budget TA Bud9et Total Budget Office 2000 Upgrade New 69,000 69,000 69,000 SCAOA Communications -Ethernet Study Continuing 157,000 157,000 157,000 Total Information Management & Computerization 8,689,683 14.nS,300 6,954,630 3,642,620 2, 102,450 1,056,920 1,018,680 0 23,464,983 Miscellaneous & Support Projects FE-J Facilities Engineering Projects Continuing 1,000,000 19,000,000 1.041.900 1,000.000 1.000,000 1,000.000 1.000.000 13,958,100 20,000,000 FE-P1 Facllitles Engineering Projects Continuing 1,000,000 19,000,000 1,041,900 1,000,000 1,000,000 1,000,000 1,000,000 13,958,100 20,000,000 FE-P2 Facilities Engineering Projects Continuing 1.000.000 19,000,000 f ,041,900 1,000,000 1,000,000 1.000,000 1,000,000 13,958, 100 20,000,000 J-62 Modifications lo Exisl1ng Mech. Systems Continuing 329,000 2,365,000 476,250 1,888,750 2,694,000 J·69 Bldg and Admln. Are11 Rehab/Refurb1stimenl Future 1,455.000 1,'155.000 1,455,000 J-80 HVAC Equipment Replacement at Plants 1& 2 New 20,000 737,000 737,000 757,000 P2·84 Landscape and I rrigatlon at Plant No. 2 New 2,000 806,000 128,000 449,800 230,200 610.QOO SP-34 Small Cap Equip Replacement Project Revised 240,000 500,000 500,000 740,000 Scrubber Chem Feed System Mods Continuing 366,000 430,000 430,000 796,000 Waretiouse Reinvention Project New 600,0-00 240,000 240,000 120,000 600,000 Alarm System for ESL and ECM Instruments New 75,000 75,000 Total Miscellaneous & Support Projects 4,032,000 F,;3,895,000 5,636,950 S,578.550 3,350,200 3,000,000 3,000.000 43,329,300 67,927.000 Equlpment Districts Capital Equipment Budget New 2,912,000 2,912,000 2,912,000 Equipment Total Budget 0 2.912,000 2,912,000 0 0 0 o 0 2,912,000 Total Treatment, Disposal and Special Projects 56.738,720 1, 132, 108, 100 65,746, 145 109,561,612 146,624,903 133,259,690 155,357 ,590 521.556,160 1, 188,846,820 Total Capital lmprol/ement Program 79.406.185 1.406,629,629 83,007.104 139,707,932 180,276,438 173,736,889 198,702.464 631,198,801 1,486,035,814 G:lexcel dta\fln\21 O\streed\00-01 bud9et\5 year CtP Cash Flow 04/26/2000 at 11:35 AM Proposed CORF Equipment Summary Proposed CORF Equipment Budget 2000-01 TRUCKS& OTHER MACHINE EQ COMM INSTR/TEST SAFETY & OFFICE COMPUTER 2000·01 VEHICLES MOBILEEQ &TOOLS EQUIPMENT EQUIPMENT TRAFFICEQ FIX&EQ EQUIPMENT TOTAL DEPARTMENT 55561-8 55562-8 55563-8 55564-8 55566-B 55567-8 55568·8 55569·8 BUDGET Purchasing & Warehouse 30,000 5,000 35,000 Environmental Compliance & Monitoring 25,000 200,000 225,000 Environmental Sciences Laboratory 20,600 20,600 Source Control 51,250 51,250 Safety and Emergency Response 6,000 6,000 Construction Management 5,000 5,000 Collection Facilities 10,000 48,500 31,000 89,500 Facilities Maintenance 910,600 114,600 25,300 10,300 1,060,800 O&M Process Engineering 50,000 50,000 Plant No. 1 Operations 20,700 20,700 Plant No. 2 Operations 2,000 2,000 Mechanical Maintenance 215,500 201,150 15,550 7,800 30,000 470,000 Instrumentation & Electrical Maintenance 2,200 43,040 10,000 55,240 Air Quality & Special Projects 9,550 9,550 Information Technology Administration 364,000 364,000 Customer and Network Support 297,000 297,000 Process Controls Integration 150,600 150,600 TOTAL200Q..01REQUESTS 1, 136.100 169,600 295,650 17,750 422,740 7,800 45,000 817,600 2,912,240 Section 8 -Page 217 2000-01 Budget .. Proposed CORF Equipment Budget Detail Division Proposed No. Division Name Equipment.Type CORF Budget 230 Purchasing & Warehouse Two Forklifts -5000 lb. & 2500 lb. Capacity 30,000 Workstation & Conference Table wt Chairs 5,000 35,000 620 Environmental Compliance & Monitoring Oceanographic Instrumentation Mooring 125,000 Towed Water Column Sampling Equipment 75,000 ICE/Water Pump 25,000 Total 225,000 630 Environmental Sciences Laboratory (3) Automatic Wastewater Samplers 20,600 640 Source Control (2) 900-Max Samplers 10,000 (12) Base Auto Samplers 30,000 (5) Gas Tech Model GT 402 11,250 Total 51 ,250 650 Safety and Emergency Response Authoring Software 6,000 730 Construction Management (2) Gas Tech Model GT 402 5,000 420 Collection Facilities Operations & Maintenance New Service Bed, V-397 Pump Stn Maint. Truck 10,000 Engine I Gas -V6 (4.3 l) 8,000 30", 33", and 36" Pillow Plugs 4,500 Gastech Model GT-402 4 Range Gas Detector 5,000 (2) Ultra Sonic Flow Meters "Sigma" 13,000 (2) Area Velocity Flow Meters "Sigma" 13,000 (1) Trailer mounted Dresel by-pass pump 6" 36,000 Total 89,500 430 Facilities Maintenance Opacity Meter 10,300 Graco line Lazer 5900 # 232-662 6,500 Landa Steam Cleaner. Model Ii VNG4-30021A 8,000 New I Used Diesel Fuel Truck 54,000 Band Saw 2,600 10x16 Wet Metal cutting horrzontal cuttlng saw 6,000 3/4 Ton Pick-up truck 33,000 Craftsman roll away tool box 2,200 Carry Deck Crane 87,000 Pull Rig Truck 44,000 Motorized Shop Tenant 27,600 SUV -4x4, 4 door (for Division 650) 30,000 ( 6 ) Passenger vehicles 131.400 (18) 1 /2 Ton Pick up Trucks 494,000 (17) Personnel Carriers 124.200 Total 1,060,800 820 Operations & Mafntenance Process Engineering Vibration Analyzer 50,000 Section 8 -Page 218 Proposed CORF Equipment Budget Detail Proposed CORF Equipment Budget Detail Division No. Division Name 830 Plant No. 1 Operations 840 850 860 880 910 930 950 Total Plant No. 2 Operations Mechanical Maintenance Total Instrumentation & Electrical Maintenance Total Air Quality & Special Projects Total Information lechnology Administration Total Customer and Network Support Process Controls Integration Equipment Type Wire Rope Hoists -2 Portable Crane -2 Weather resistant pH meter 2-axle combination sewer cleaning truck Office modulas, lunchroom/computer room furn One inch drive socket set Parts cleaning tank and solvent Mobile workbench 2ea. Combination power wash/steam cleaner Chainfall Hoist Portable aluminum scaffold Portable aluminum gantry crane Hydraulic press Heavy duty storage bin Hand-held mobile radios-12ea. S.C.B.A. air pack modifications -4ea. Tool Boxes and Tools Oil Analyzer Model A5:lU001 Scope Fiber Smart Probe Datacom Textrom Fibercat Kit Fluke DSP 4000 Two Way Mobile Radio PowerAna~zer3JH50 Modular Office Furniture (2) Offices Integral pH/Temp/ORP Meter for Samplers (2) Portable Horiba pH/DO Meter Air Data Micromanometer Digital Manometer Herco Smoke Generator Computer Workstations, Upgrade Schedule Printers, Replacement Schedule Laptop Computer (for Division 420) Laptop Computer (for Division 860) Laptop Computer (for Division 940) Server Replacements 6 Replacement SCADA Monitors 8 VAX SCADA workstations 6 CRISP Workstations (for Div. 830) 4 Computer Workstations (for Div. 830) 3 CRISP Workstations (for Div. 840) Total CORF Equipment Budget. Section 8 -Page 219 Proposed CORF Budget 9,200 11,500 20,700 2,000 215,500 30,000 2,400 1,700 3,200 5,950 2,150 3,700 3,800 4,550 2,700 15,550 7,800 171 ,000 470,000 27,000 3,800 1,940 8,100 2,200 2,200 10,000 55,240 2,300 1,250 2,500 1,000 2,500 9,550 306,000 46,000 4,000 4,000 4,000 364,000 297,000 6,600 64,000 48,000 8,000 24,000 150,600 $ 2,912,240 ... FAHR COMMIITEE Meeting Date To Bel. of Dir. 05/10/00 AGENDA REPORT Item Number Item Number FAHR00-47 Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager SUBJECT: STATUS REPORT, RESTRUCTURING OF THE DISTRICT'S EXISTING CERTIFICATES OF PARTICIPATION GENERAL MANAGER'S RECOMMENDATION Receive and file status report. SUMMARY In November 1999, the Board of Directors approved a plan to restructure and modernize the District's existing Certificates of Participation (COP} long-term borrowings. In February, staff reported on the progress made by the financing team to develop and implement a comprehensive COP restructuring and refinancing plan. In March, staff presented an overview of COP financing methods, and provided details about the financial structure and the legal documents associated with the Series 2000 COP refinancing. In April, the Board of Directors approved the formation of the Orange County Sanitation District Financing Corporation in order to issue the Series 2000 Refunding COPs. This agenda item reports on the progress and status of the COP restructuring and refinancing plan. PROJECT/CONTRACT COST SUMMARY NIA 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 Background The modernization of the District's existing COP program is based on a comprehensive refunding and restructuring strategy to realign the COP legal documents to reflect the District's consolidated organization structure as a single Sanitation District. H:lwp.dta\agenda1FAHRIFAHR2000'2000 Agenda Reports\FAHRQ0.47.doc Reviaed.: 8l20lll6 Page 1 The strategy includes a two-phase process: 1) Refund the Series "A," "B," and "C" COPs through a single Series 2000 Refunding COP offering; and 2) Subs~itute modernized bond documents for the synthetic fixed rate 1992 and 1993 Refµnding COPs. This strategy will allow the District to be viewed as a single credit structure by the rating agencies, and will strengthen the District's ability to obtain formal "Aa" category ratings. In addition, streamlining the legal structure for all of the District's existing COPs will facilitate issuance of any future debt. The balance of this report is a status update on the progress made by the finance team on both phases of the COP restructuring and refinancing plan since the April FAHR Committee meeting. Rating Agency Presentations Staff and PaineWebber completed presentation meetings at the District with the three principal municipal bond rating agencies (Moody's, Standard & Poor's, and Fitch IBCA) on April 18 and 19. The rating agency visits included tours of Plant No. 1. Analysts from each of the rating agencies have agreed to provide the District with initial feedback by the second week of May. Staff will receive "indicator" ratings from each rating agency prior to the May 10 FAHR Committee meeting, and will report to the Committee at that time. The "indicator" ratings will provide the District an indication of which rating category (e.g., "Aa" category) the District's Series 2000 Refunding COPs are likely to receive. Phase I -Series 2000 Refunding COPs Preparation of final documents and agreements required for issuance of the Series 2000 COPs are being finalized. The Installment Purchase Agreement, or master indenture, is in final review by the financing team, as is the Official Statement. Drafts of the Certificate Purchase and Remarketing Agreements, which will be executed by the District and the underwriter, are under review. Likewise, a Trust Agreement and a Standby Certificate Purchase Agreement have been drafted in anticipation of selecting a Liquidity Bank and Trustee Bank this month. RFP's have been distributed for solicitation of competitive quotes from selected banks for the Liquidity Facility. Responses are due on May 17. The RFP for Trustee Bank services is being finalized. Phase II -Series 1992 and 1993 Refunding COPs The finance team has continued to work on the substitution of modernized legal documents with the bond insurer and long-term swap providers for the Series 1992 and 1993 Refunding COPs. The substitution documents will replicate those associated with the Series 2000 COP issue. H!\Wp.dtiilagendi\FAHRIFAHR2000\2000 A119nda Rep()lts\FAHR00-47.doc R9\lised: 8l20l98 Page2 During the past two weeks, the finance team has provided copies of the substitution documents to Ambac, the bond insurer for the 1992 and 1993 Refunding COPs, and has engaged Ambac in more detailed discussions to solicit their consent to modernizing the legal documents for both COPs. Based on these discussions1 Ambac has indicated their conceptual approval of the District's plan to modernize the 1992 and 1993 COPs. As the credit provider for these outstanding COPs, Ambac's consent is the critical first step towards obtaining the consent of the swap providers (AIG for the 1992 COPs, and SocGen for the 1993 COPs ), and achieving the Phase II goals of modernizing the bond documents for the 1992 and 1993 Refunding COPs, and streamlining the overall debt structure for all of the District's existing COPs. Additionally, both AIG and SocGen have indicated their conceptual approval of the modernization plan in other discussions with the finance team. Combined Action Plan While the successful implementation of Phase I does not necessarily require completion of Phase II, the recent discussions of the finance team with the rating agencies and Ambac indicate that the greatest likelihood of achieving both goals will come from pursuing Phase I and Phase II in tandem. The rating analysts have said that their credit analysis of the District would be simplified if Phase II is completed in conjunction with Phase I. This is true because completion of Phase II would allow the rating agencies to treat all District COPs as a single parity lien with a standardized and modernized legal structure at the time they establish the District's underlying credit rating. By comparison, if the Phase II modernization is deferred until after issuance of the Series 2000 COPs (Phase I), the rating agencies would conduct an individual analysis of the 1992 and 1993 COPs. The finance team has learned from Ambac that their willingness to consent to document substitution is predicated on the District's ability to obtain "Aa" category ratings for the 1992 and 1993 COPs, as these ratings will allow AMBAC to reduce its reserve requirements associated with these financings. While Phase I is intended to secure "Aa" category ratings on all of the District's COPs, as previously noted, the rating analysts can build the best case for higher ratings if Phase I and II are accomplished simultaneously. Moreover, if Phase I is accomplished prior to completion of Phase II, Ambac may be less motivated to cooperate with substitution of bond documents as they already will have received the benefit of the District's "Aa" ratings. Conclusion and Follow-Up Action Based on feedback from the rating analysts and Ambac, the finance team suggests modifying the original financing schedule to merge Phases I and II and pursue simultaneous completion of both components in June. H:\wp.dta'-!len<UllFAHR\FAHR20()().2000 !,gend~ ReportslFAHR00-47,doe R9"ised: ~ Page3" The ultimate credit ratings decision will be based, in part, on the success of the Phase II substitution process, At the same time, the consent of Ambac and the swap providers will be influenced by the timing and feedback on the Phase I credit review. Accordingly, both the rating analysts and Ambac have suggested a desire to pursue their.respective analyses on the assumption that Phases I and II will be completed in tandem. From a timing perspective, Phase II, which is driven in large part by the outcome of the ratings process, originally was scheduled to dovetail on completion of Phase I. By merging the two components, the financing schedule will need to be expanded by several weeks to accommodate preparation of final Phase II documents and coordination of activities between the two phases. As such, the revised project schedule calls for completion of both phases in time for approval by the FAHR Committee and Board of Directors at their June meetings. Financing Schedule A detailed financing schedule for issuance of the Series 2000 Refunding COPs, and substitution of bond documents for the 1992 and 1993 Refunding COPs, is attached for your Committee's review. The following is a summary of upcoming project milestones: • May • Receive "Aa" category "indicator" credit ratings for District • Select liquidity facility provider • Select trustee bank • Obtain Phase II consents • June • FAHR and Board approve legal documents • Complete substitution of Phase II legal documents • Mail Official Statement • July • Price and market Series 2000 COPs • Close all refunding components ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS 1. Financing Schedule H:l"".dlalagendalFAHRIFAHR2000'2000 Agenda ReportSIFAHR00-47.dOe R~ 8l20l98 Page4 ORANGE COUNTY SANITATION DISTRICT Series 2000 Refunding COPs Financing Schedule FfBRti .\RV s M T w T F s s M T w T F s s I 2 3 4 5 I 2 3 4 6 7 8 9 IO 11 12 5 6 7 8 9 10 II 2 13 14 15 16 17 18 19 12 13 14 15 16 17 18 9 20 21 22 23 24 25 26 19 20 21 22 23 24 25 16 27 28 29 26 27 28 29 30 31 23 30 MAY s M T w T F s s M TW T F s s 1 2 3 4 5 6 1 2 3 7 8 9 10 11 12 13 4 5 6 7 8 9 10 2 14 15 16 17 18 19 20 ll 12 13 14 15 16 17 9 21 22 23 24 25 26 27 18 19 20 21 22 23 24 16 28 29 30 31 25 26 27 28 29 30 23 30 Date Activity • J st draft of Installment Purchase Agreement distributed Jan14 x Jan20 x Kick-off meeting to discuss legal structure Feb3 x Review 1st draft of ratings presentation and revised cashflows (9;00 a.m. at District) Feb. 9 x FAHR Committee meeting (5:00 p.m.) x Financing progress report Feb 10 x 151 draft of P.O.S. distributed Feb 14 x 1 •1 draft of Trust Agreement distributed Feb 17 x Meeting to review legal documents and P.O.S. (10:00 a.m. at OH&S) Feb21 x Market Holiday (President1s Day) Mar8 x FARR Committee meetjng (5:00 p.m,) x Financing progress report Mar9 x 2"d draft of legal documents distributed x 2nd draft of P.0.S distributed Paine Webber May 1,2000 Al'RIL M T w T F s 1 3 4 5 6 7 8 10 II 12 13 14 15 17 18 19 20 21 22 24 25 26 27 28 29 .JlJL y M T w T F s I 3 4 5 6 7 8 10 11 12 13 14 15 17 18 19 20 21 22 24 25 26 27 28 29 31 Responsibility BC All-Hands OCSD,PW OCSD OCSD,PW UC BC All-Hands OCSD OCSD,PW BC UC May 1,2000 Mar 14 x Meeting to review legal documents and P.O.S. All-Hands (10:00 a.m. at OH&S) Weekq( x Begin preparing package for liquidity banks PW May20 Mar22 x District Board meeting OCSD,PW Mar24 x 3rd draft of P.O.S distributed UC Week of x Review proposed legal structure with rating analysts PW 3/27 x Distribute draft legal documentS to rating agencies BC,UC x Commence discussions with Ambac and swap providers PW,BC x Continue revising rating agency presentation OCSD,PW Mar28 x Meeting to review legal documents and P.O.S. All-Hands {10:30 a.m. at OH&S) Mar30 x Meeting to review cashflows and ratings presentation OCSD,PW Apr5 x Agendize non-profit corporation formation materials BC,OCSD Apr6 x Conference call on rating agency presentation (9:00 a.m.) OCSD,PW Apr 11 x Meeting to review rating agency presentation (9:00 a.rn.) OCSD,PW Apr 12 x FAHR Committee meeting (5:00 p.m.) OCSD x Approval of non-profit Financing Corporation OCSD,BC x Financing progress report OCSD, PW x Call with Ambac to discuss amendment process PW Aprl3 x Rehearsal forrating agency presentations {l l :00 a.m. P.D.T.) OCSD, PW Apr 18/19 x Rating agency presentations (at District) OCSD, PW Apr21 x Market Holiday (Good Friday) Apr25 x Call with Ambac to review District credit PW A.pr 26 x District Board meeting OCSD x Approval of non-profit Financing Corporation OCSD May3 • Trustee bank RFP circulated OCSD,PW May JO • Receipt of "indicator" ratings OCSD, PW • FAHR Committee meeting (5:00 p.m.) OCSD • Financing progress report OCSD, PW • Draft amendments to '92 and '93 legal documents circulated BC • Select Trustee OCSD,PW • Circulate l 51 draft of swap documents PW,BC May12 • Conference call on documents AU-Hands Paine Webber May 1,2000 Week of • Conference calls with Ambac, AIG, and SocGen to review All-Hands May15 proposed amendments May17 • Receive liquidity facility provider bids PW May 18 • Select liquidity facility bank OCSD,PW May22 • Fonn of Standby Purchase Agrement circuJated LPC May24 • District Board meeting OCSD • Conference call on liquidity facility documents All Hands Jun 7 • Draft documents agendized for F AHR Committee OCSD,BC • Receipt of Series 2000 "structured" ratings OCSD,PW Jun 14 • PAHR Committee meeting (5:00 p.m.) OCSD • Approval of COP legal documents OCSD,BC, PW Jun21 • Substantially final documents agendized for Board OCSD, BC Jun28 • District Board/ Financing Corporation meetings OCSD • Approval of COP legal documents OCSD, BC,PW Jun29 • Print Official Statement UC,PW • Begin pre-marketing COPs PW Jun30 • Mail Official Statement OCSD,PW Ju/4 • Market Holiday (Memorial Day) Jul 5 • Price advance refunding of Series B OCSD,PW (Swap Series B to fixed rate through August 200 J) Jul 19 • Price current refunding of Series A & C OCSD, PW (Daily VRDOs, Sold no Jess than 15 days after Series B) Ju/20 • Close all refunding components All-Hands 8/1/01 • Series B COPs called with escrow funds X -Denotes completed activity. Key Role Participattts OCSD Issuer Orange County Sanitation District BC Bond Counsel Orrick, Herrington & Sutcliffe PW Underwriter PaineWebber Incorporated UC Underwriter's Counsel Rawkins, Delafield & Wood LP Liquidity Provider To be determined. LPC Liquidy Provider's Counsel To be determined. Paine Webber INVESTMENT MANAGEMENT PROGRAM O.range Cou~ty San·itation District ' I I STRATEGY REVIEW FOR THE ·PERIOD JANlJARY 1, ·2000 -MARCH 31, 2000 FIN:ANCE, ADM INISTRATION & HL!MAN RESOURCES COMMITTEE MAY·'10, 2000 840 Newport Center Drive Post Office Box 6430 . Newport Beach California 92658-6430 949-720-6000 AGENDA PIMCO UPDATE II BOND MARKET REVIEW Ill CURRENT OUTLOOK I STRATEGY PACIFIC INVESTMENT MANAGEMENT COMPANY MARKET RALLY UNIQUE TO LONG TREASURY BONDS TREASURY YIElD MOVEMENTS 7.5 1--------~-------------~-------1 SHORT-TERM RATES ROSE AS FED RESPONDED TO INFLATIONARY PRESSURES LONG-TERM RATES FELL AS TREASURY BUYBACK PROGRAM DROVE SUPPLY AND DEMAND TECHNICALS 7.0 6.5 ~6.0 ~ 5.5 > 5.0 4.5 4.0 .. ··---_ ................. • ._ .... . .... -··• .. -· ........ . --······ 1-rr. r-olll J.5 .._ _____ _.. ______ _. ________ .._ _____ _. TREASURY YIELD CURVE FLATTENED BY 89 BPS DOMESTICALLY, HIGHER QUALITY OUTPERFORMED 22S 175 R_ 125 e. a: 75 DO c:: .. 25 ..c; u -25 -75 -125 20 15 ~ 10 E i 0:: 5 jg 0 0 I- .5 -10 2Q '99 DlQ '00 01999 86 3 Mos. DlQ'OO 1:31999 3 8 -2.6 Treasuries JQ '99 4Q '99 1Q '00 TREASURY YIELD CHANCES BY MATURITY 170 180 179 1•14 139 25 ·2 -42 .(ill 1 Yr. 2 Yrs. 5 Yrs. 10 Yrs. JO Yes. SECTOR IN DEX RETURNS 14.0 1.4 1.9 1.4 2.2 2.2 2.5 2.3 ·2.0 -1.4 Mortgages-Invest. Grade BB Corp. Herlgetl Non-Upper Tier Fixed Rate Corp. U.S.$ Emp,. Mkt.• • Created by PIMCO to characterize the higher qua lity portion of the emerging market sector. Index is weighted as fellows: /\rgenlina, Brazll, Chile, Colombia, Panama, Peru, Tunisia each So/o; Bulgaria 10%; Ph ilippines and Poland 12.5%; Mexico and Korea 15%. SOURCE: JP Morgan, Lehman Bros., Bloomberg Financial Markets 6.26% 5.81% PACIFIC INVESTMENT MANAGEMENT COMPANY STRATEGY RECAP -FIRST QUARTER LONG-TERM OPERATING FUND Period Ended March 31, 2000 PORTFOLJO STRUCTU RE DURATION .. BELOW INDEX MATURITY MIX ... BROADER-THAN-INDEX GREATER-Tt-IAN-INDEX EXPOSURE TO: • Co rporate sector SECTOR/ ISSUE ... • Agency securities • Mortgage sector 2 RELATIVE IMPACT FIRST QUARTER 2000 POSITIVE POSITIVE POSITIVE PACIFIC INVESTMENT MANAGEMENT COMPANY STRATEGY RECAP -FIRST QUARTER LIQUID OPERATING FUND Period Ended March 31, 2000 -""'" PORTFOl.10 STRUCTURE DURATION 11J1> AT INDEX MATURITY MIX 11J1> SLIGHTLY BROADER-THAN-INDEX GREATER-THAN-INDEX EXPOSURE TO SECTOR I ISSUE 11J1> AGENCY DISCOUNT NOTES AND COMMERCIAL PAPER 3 RELATIVE IMPACT F/R,ST QUARTER 200() NEUTRAL SLIGHT POSITIVE POSITIVE PACIFIC INVESTMENT MANAGEMENT COMPANY REVIEW OF PERFORMANCE Through March 31, 2000 • long-Term Operating Fund Since* Inception 3/31/00 9130195 3 Yrs.* 2 Yrs.~ 1 Yr. 9 Mos. 3 Mo. 1 Mo. Market Value Orange County Sanitation District (l-T) (%) 6.1 6.4 5.1 3.5 3.5 1.6 1.0 $351,554, 104 Merrill 1 -5 Year Gov't. I Corp. index (%) 5.7 5.9 4.7 3.1 2.8 1.3 0.8 • Liquid Operating Fund Since* Inception 9/30/95 3 Yrs.* 2 Yrs.* 1 Yr. 9 Mos. 3 Mo. 1 Mo. 3/31 /00 Market Value Orange County Sanitation District (liq-op) (%) 5.5 5.5 5.5 $19,886,186 5.5 4.3 1.5 0.5 3 Month T-Bill (%) SJ 5,0 4.9 5.0 3.8 1.3 0.5 • Annualized. PACIFIC INVESTMENT MANAGEMENT CO¥PANY CURRENT OUTLOOK INTEREST RATE MATURITY MIX SECTOR ECONOMIC OUTLOOK • U.S. GROWTH TO SLOW -Higher interest rates -Consumer and investment spending to slow • INFLATION NEAR CYCLICAL PEAK • MARKH TECHNICALS CONTINUE TO INFLUENCE LONG RATES STRArECY ~ NEAR INDEX ~ BROADER-THAN-INDEX ~ EMPHASIZE MORTGAGES, ESPECIALLY GNMA'S CONCENTRATE CORPORATE HOLDINGS ON SHORTER MATURITIES FAVOR ADJUSTABLE RATE MORTGAGES HOLD HIGH QUALITY ASSET-BACKEDS 5 PACIFIC INVESTMENT MANAGEMENT COMPANY INVESTMENT MANAGEMENT PROGRAM Orange County Sanitation District STRATEGY REVI EW FOR TH E PERIOD JAN UARY. 1, 2000 -M'i'RCH 31, 2000 FINANCE, ADMINISTRATION & HUMAN RESOURCE'S COMMITTEE MAY 10, 2000 840 New.port Cen/er Drive P.ost Office Box 6430 , Newport Beach California 92658-6430 949-720-6000 AGENDA PIMCO UPDATE II BOND MARKET REVIEW Ill CURRENT OUTLOOK I STRATEGY PAcmc INVESTMENT MANAGEMENT COMPANY MARKET RALLY UNIQUE TO LONG TREASURY BONDS SHORT-TERM RATES ROSE AS FED RESPONDED TO INFLATIONARY PRESSURES LONG-TERM RATES FELL AS TREASURY BUYBACK PROGRAM DROVE SUPPLY AND DEMAND TECHNICALS TREASURY YIELD CURVE FLATTENED BY 89 BPS DOMESTICALLY, HIGHER QUALITY OUTPERFORMED 7.5 7,0 6.5 ~6.0 ~ -0 5 5 ]! . >-5.0 4.5 4.0 3.5 225 175 '[ 125 -:9. ., "" 75 c: "' 25 ~ u -25 -75 -125 -5 TREASURY YIELD MOVEMENTS 30-Yr. T·Bonrl --~ ~---~ -----....__-·~· ....... " _ ...... .. -.......... · -.-.... ·-··-4··-.--.. ... -_ .... .-.... -.,· ... -- 1-Yr. T-Bill 2Q '99 3Q '99 4Q '99 IQ '00 TllEASURY Y-lfl.D CHA NGES BY MATURITY 01Q '00 170 180 179 139 -2 -42 -64 3 Mos. 1 Yr. 2 Yrs. 5 Yrs. 10 Yrs. 30 Yrs. SECTOR IN DEX RETURNS -2.6 ·2.0 -1.4 -10 ----------------------------- Treasuries Mortgages· Invest. Grade BB Corp. Hctlp,ed Non-Upper Tim Fixed Rate Corp. U.S.$ Enip,. Mkl.' • Created by PIMCO to characterize the higher quality portion of the emerging market sector. Index is weighted as follows: Argentina, Brazil, Chile~, Colombia, Panama, Peru, Tunisia each 5%; Bulgaria 10%; Philippines and Poland 12.5%; Mexico and Korea 15%. SOURCE: JP Morgan, Lehman Bros., Bloomberg Financial Markets 6.26% 5.64% PACIFIC INVESTMENT MANAGEMENT COMPANY STRATEGY RECAP -FIRST QUARTER LONG-TERM OPERATING FUND Period Ended March 31, 2000 PORTFOLIO STRUCTURE DURATION ... BELOW INDEX MATURITY MIX ... BROADER-THAN-INDEX GREATER-THAN-INDEX EXPOSURE TO: • Corporate sector SECTOR I ISSUE ... • Agency securities • Mortgage sector 2 ~ RELATIVE IMPACT FlRST QUARTER 2000 POSITIVE POSITIVE POSITIVE PACIFIC INVESTMENT MANAGEMENT COMPANY STRATEGY RECAP -FIRST QUARTER LIQUID OPERATING FUND ~eriod Ended March 31, 2000 PORTFOLIO STRUCTURE ' DURATION 9"' AT INDEX MATURITY MIX 11J1. SLIGHTLY BROADER-THAN-INDEX GREATER-THAN-INDEX EXPOSURE TO SECTOR I ISSUE llJI. AGENCY DISCOUNT NOTES AND COMMERCIAL PAPER 3 RELATIVE IMPACT FIRST QUARTER 2000 NEUTRAL SLIGHT POSITIVE POSITIVE PACIFIC INVESTMENT MANAGEMENT COMPANY REVIEW OF PERFORMANCE Through March 31, 2000 + Long-Term Operating Fund 3/31/00 Market Value $351,554, 104 + Liquid Operating Fund 3/31/00 Market Va lue $19,886,186 Orange County Sanitation District (L-T) (%) Merrill 1 -5 Year Gov't. I Corp. Index (%) Orange County Sanitation District (Liq-op) (%) 3 Month T-Bill (0,{,) • Annualized Since* Inception 9/30195 6.1 5.7 Since* Inception 3 Yrs.* 2 Yrs_* 6.4 5.1 5.9 4.7 1 Yr. 9 Mos. 3 Mo. 1 Mo. 3.5 3.5 1.6 1.0 3.1 2.8 1.3 0.8 9/30/95 3 Yrs.* 2 Yrs.* 1 Yr. 9 Mos, 3 Mo. 1 Mo 5.5 5.5 5.5 5.5 4.3 1.5 0.5 5 .1 5.0 4.9 5.0 3.8 1.3 0.5 1 PACIFIC INVESTMENT MANAGEMENT COMPANY CURRENT OUTLOOK INTEREST RATE MATURITY MIX SECTOR ECONOMIC OUTLOOK • U.S. GROWTH TO SLOW -Higher interest rates -Consumer and investment spending to slow • INFLATION NEAR CYCLICAL PEAK • MARKET TECHNICALS CONTINUE TO INFLUENCE LONG RATES STRATEGY ... NEAR INDEX ... BROADER-THAN-INDEX ... EMPHASIZE MORTGAGES, ESPECIALLY GNMA'S CONCENTRATE CORPORATE HOLDINGS ON SHORTER MATURITIES FAVOR ADJUSTABLE RATE MORTGAGES HOLD HIGH QUALITY ASSET-BACKED$ 5 PACIFIC I NVESTMENT M ANAGEMENT COMPANY Callan Associates Inc. Investment Measurement Service Quarterly Review Orange County Sanitation District March 31, 2000 The following statistical analysis was prepared by Callan Associates Inc. utilizing secondary data from statements provided by the plan trustee and/or custodian, CAI computer software and selected information in CAI's database. This report may also contain returns and valuations from outside sources as directed by the client. CAI asswnes no responsibility for the accuracy of these valuations or return methodologies. Reasonable care has been taken to assure the accuracy of the CAI computer software and database. CAI disclaims responsibility, financial or otherwise for the accuracy or completeness of this report. Copyright 2000 by Callan Associates Inc. Capital Markets Review Active~ementOverview Market Overview ......................................................... . Domestic Fixed-Income .............•....................................... Asset Class Risk and Return ................................................ . Investment Manager Asset Allocation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........ . Investment Manager Returns ................................................ . Manager Analysis PIMCO-Liquid Operating Monies PIMCO-Liquid Operating Fund Bond Portfolio Characteristics Portfolio Characteristics Detail 1 9 10 11 12 13 14 15 16 17 II A New Speed Limit for the Economy? Still strong after nine years, the current U.S. expansion be- came the oldest on record in March. The prospect for a ten- year or more expansion seems high. The only signs of imbalance are a trade gap at record highs and a frothy stock market that distorts consumer spending. While inflation ap- pears to have passed its lowest point in the current cycle, re- cent year-over-year increases are still very small. see page 11 Dr. Dolittle Can't Seem to Talk to the Animals Pushing stocks higher was continuing evidence of improved worker productivity, strong consumer spendin,g and faster- than-expected economic growth, while increasing bottlenecks in the economy tugged on the market's conscience. Fed Chair- man Greenspan repeatedly tried to encourage this Pushmi- Pullyu to settle down with talk of higher interest rates. Nevertheless, the Callan Broad Market moved forward a healthy 4.42%, with Technology leading the charge. see page 2 Buyback Program Helps Treasuries Recover The U.S. bond market regained its stability in the first quarter after four consecutive down quarters. Bolstered by the Treasury's program to buy back some of its outstanding pub- lic debt, the Lehman Brothers Treasury Index had its best per- fonnance since 1998's credit crisis, returning 3.79% in the quarter. As the Fed raised rates twice on the short end, the yield curve inverted during the quarter. Spread product gen- erally trailed their Treasury counterparts. see pag<~ 4 The Real Estate Corner ln the first quarter, the private equity real estate market mar- ginally underperformed the public REIT market. Based on preliminary estimates, Callan 's median manager of direct real estate investments gained 1.82% while the NAREITTEquity Index gained 2.39%. Within the NAREIT market, the office sector (+6.0l %) was particularly strong, while the retail sec- tor(+ 1.26%) cautiously advanced with investor concerns over a growing e-commerce trend eroding demand for retail space. see page 9 StocksAbroadWrestle with Direction Following a strong fourth quarter, non-U.S. equity lost steam this quarter, as the MSCI EAFE index fell 0.11 %. Both Pa- cific and Europe expe.rienced anemic returns, despite market turmoil under the surface. As in the U.S., the "New Economy" stocks outperformed "Old Economy" stocks. The EAFE Growth Index gained 1.48% whne the MSCI Value Index lost 1.90%. Emerging markets moved ahead a modest 2.42% during the qµarter. see page 6 Foreign Bonds Fall Again on Dollar Strength Jn the wake of a rough 1999, the Salomon Non-U.S. Govern- ment Bond Index suffered another trying quarter, falling l. 16% in dollar terms. The dollar strengthened against most currencies, particularly the euro. For hedged investors, the index managed a modest 1.26% local gain. Emerging market debt showed continued strength in the quarter, as the EMBI+ lndex rose 7.62%. see page 8 Alternative Thoughts Fund-raising in the first quarter started off strong. The quarter's $16 billion in new private equity commitments rep- resents a 37% increase over the $11.7 bniion in first quarter of 1999. Venture capital continues to outpace the historical trend by garnering more capital than buyouts for the third quarter in a row. Interestingly, the buyout groups are not pay- ing higher multiples for investments -multiples that rose throughout the 1990s decreased recently. see page 10 All Things Considered Following an impressive fourth quarter, most plans still man- aged to gamer positive returns again in the first quarter. With returns for the major asset classes being fairly well aligned, the dispersion of returns among the various fund sponsors was limited. Endowments and foundations edged ahead with a median 2.92% gain supported by their typically heavier ex- posure to domestic equities. see page 12 Broad Market Returns -First Quarte r 2000 5% 4A2.12·., <1% 3% ~ 2% ~ 1% 0% .1•~ -2% U.S. Equi<y (Collin Broad M~rkct) u t•\ .Q.11% Non-U.S . .Equity U.S.fo:cd (MSCJ .EAFE) (LB Agg-rce;ito) Non-u.s. Fiitcd (SSB Non-U.S.) Real Esratc (Cullan Real Est:itc) Cash (90-D:l)'T-Bill•) S/\N fR1\NCISl.tl Cl tlC,\Ctl ..YJL<\Nf.'\ Sl1lrt'l\Ull FAX tJ i ~J~.03~1 Dr. Dolittle Can't Seem to Talk to the Animals Perhaps the U.S. stock market's a little too headstrong. Last quarter, the market looked liken Pushmi-Pullyu trying to run in opposite directions. Pushing stocks higher wns continuing evidence of improved worker pro- ductivity, strong consumer spending and faster-than·expected economic growth. Tugging on the market's conscience were concerns of growing worker shortages, tightening monetary pressure, record trade deficits and rapidly climbing margin debt. In the midst of this market's awkward struggle, Fed Chairman Greenspan repeatedly tried to encourage the animal to settle down with talk of higher interest rates. By the quarter's end. the beast was either ignoring or sim· ply not underslanding this Or. Dolittle wannabe. Despite Greenspan's jawboning, the market managed to step forward a healthy 4.42%, in- cluding dividends, as measured by the Callan Broad Market Index of the 2,000 largest U.S.-traded stocks, less ADRs and other foreign shares. Too much seemed never enough for the forces supportmg what Greenspan called a "wealth·induced excess of demand" in the economy. The first quarter's overall advance was spread across all capitnlization sectors. Within the Callan Large Cap Index of the top 150 stocks, the total gain was 4.04% .. Similarly, the Callan Medium Cap Index of the next largest 350 stocks marched ahead 4A3%. Breaking out in a faster stride, was the Callan Small Cap lndex (+6.10%), wh.Jcb covers fue bottom 1.500 stocks of the Broad Markel Beyond the institutionally oriented Broad Market. the Callan Micro Cap Index of the next small- est 1,000 stocks galloped ahead 8.25%. Within the Broad Market's economic sectors, the wrenching forces pro· duced some major dislocations. Losing faith in commodities, investors pulled Basic Materials down 10.30%. Weaker earnings outlook also caused Consumer Cyclicals (-7.38%) to tumble. Partieular.ly trampled within this sector, the general merchandise retail industry suffered a 13.67% drop, led by Wal-Mart's 18.17% pullback. ln the Consumer Staples sector (-7.33%), Procter & Gamble (-48.29%) announced that earnings would be far worse than expected, leading the household prod- ucts industry to a 35.75% loss. Overcoming its own nts and stans last quarter, the Technology sector managed to lurch ahead with another impressive gain (+14.56%). Over the last six quarters of consecutive gains, Technology has climbed 184.760/o! Within Technology last quarter, though, the advance was not evenly distributed. Shepherded by fntel's robust 60.34% advance, Technology's semicond11ctor industry bounded ahead 63.28%. Similarly supported by the Internet stampede, the computer networks industry surged 39.94%, with Cisco Systems (+44.34%) as i1s unwavering flagbearer. Moving backwards, however, was the computer software & sfrvices industry (-5.03%) where W1 antitrost ruling set back its unre- pentant leader, Microsoft (-8.99%). Last quarter's two-headed market revealed itself also within the invest- ment styles of growth and value. Supponcd by Technology's momen- tum, Callao's growth style indexes made strong advances, while their value counterparts barely edged forward To isolate value and growth styles, Callan divides its capitalization indices evenly by price-to-book, creating sub·sectors of growth-and value-oriented stocks. In the last quarter, the Callan Large/Medium Cap Growth lnde.x (+6.98%) out- paced the Large/Medium Cap Value Index (+1.21%). Among the smaller stocks, the Callan Small Cap Growth Index (+10.08%) also overwhelmed its Value Index counterpart (+2.40%). -1&<. Callan Style Group Returns First Quarter 2000 t...1•C.11'<lr•""'1 Larsc ~; v..1ue Snull C1p-Gmwth Smo11z;c;v.1ue Sey le S!yic I O~l P.,_tilc 13,29 .. ,6 :?J.JJ 10.JS lSih Pmmtile 10.!S 2.()9 20.45 7.51 Median 7,IS 0 IO 17.06 J.99 JStll l'e«:tntOc H9 ·2J8 11.12 l.6S 90lfl Pc-rcc•Uitc 2.ll ·l.7l 1.60 ·l.49 B<ndu!u1lts • s.&PGtowlh S.tPV•lu< R...,.111000 Orowlh Ruud I 2000 'hloc 9.23 l.82 4.11 O~J Capitalization Sector Performance First Quarter 2000 §~·t-----t-----t----+-----+-i = ~ •1• .. , Economic Sector Performance -Callan Broad Market First Quarter 2000 Dt11l>I C",oc,J~ F!fl.illl'C'\I!' Tn~alloc'I l l1<.S6 .. • I IOA•<' l M)'< )llf.o 1~ JllE)l 1•" i••~·. 11'1'1 C-oMU!1\Cl"SUpk\ ... ~~-7~JJ~"§~;; ____ _._ __ ,._ _ _, Con:t.wlft(rt,)'chc:al ~-~" Fb$lcM.umak ·IOl.,.,. ll" Rolling One-Year Relative Returns vs. S&P 500 15" -s&POrnv..ih .. , -S&.PV•loc 1\1 "' ...,; 2 CAil.AN A. 'SC l(J ATr:S ... ' U.S. EQUITY Style M edian and Index Returns* for Periods ended March 31, 2000 Last Last last 3 Lasts Last 10 Last 15 Quarter Year Years Years Years Years --large Cap-Broad Style 3.15 17.85 26.27 25.15 18.36 17.68 Large Cap-Growth Style 7.15 31.07 37.14 30.43 20.84 20.JJ Large Cap-Value Style 0.10 4.35 14.45 18.69 15.36 15.85 Aggressive Growth Style 11.43 79.33 42.11 13.01 23.33 22.32 Co11traria11 Style 0.48 5.14 13.09 16.85 14.55 14.68 Core Style 3.13 18.28 27.01 26.25 18.79 18.27 Yield S~vle -2.34 -0.15 13.30 17.31 14.53 15.65 CAI Broad Market Index 4.42 23.15 27.73 26.12 18.SO 17.76 CAJ Large Cap Index 4.04 21.60 32.21 30.55 20.12 19.21 S&P 500 2.29 17.94 27.40 26.76 18.84 18.41 NYSE -0.0J 9.08 19.57 21.38 16.11 16.15 Dow Jones Industrials -4.66 13..28 20.35 23.64 17.89 18.84 W®!f'~ Mid Cap-Broad Style 13.12 49.10 27.82 26.28 21.74 17.94 Mid Cap-Growth Style 18.42 94.68 45AJ 33.15 23.79 21.05 Mid Cap-Value Style 3.26 9.40 13.52 17.26 15.36 15.63 CAI Medium Cap index 4.43 11.47 18.84 19.31 15.74 15.85 S&P MidCap 400 12.69 38.09 27.39 24.06 l9. LI 18.50 Small Cap-Broad Swle 9.00 38,75 17.34 20.45 18.30 16.56 Small Cap-Growth Style 17.06 94.38 30.94 25.43 21.59 20.55 Small Cap-Value Style 3.99 16.58 11.71 14.52 14.47 14.90 CAI Small Cap Index 6.10 46.98 23.56 20.98 16.86 15.71 CAI Micro Cap Index 8.25 47.41 17.89 19.49 15.79 12.92 S&P 600 Small Cap Index 5.82 30.70 16.00 17.29 14.16 ll.42 Russell 2000 7.08 37.29 17.75 17.24 14.44 12.77 NASDAQ 12.41 86..21 55.80 41.72 27.65 21.86 t I mil:":'_ ~~t-..i.·· ---Basic Materials -10.30 8.04 2.51 6.43 8.49 Jl.79 Capital Goods 2.18 27.12 21.88 23.26 15.27 16.54 Communications 5.25 26.42 41.6R Consumer Cyclical -7.38 4.61 21.93 18.58 14.73 15.64 Consumer Staples -7.33 -7.32 11.74 l7.48 15.94 18.74 Energy 6.43 20.29 12.97 17.41 12.04 13.73 Financials 2.12 -1.65 18.18 25.52 19.89 16.83 Health Sector 3.16 -4.82 22.42 Util.ities 10.48 12.43 13.32 14.43 J 1.18 13.48 Technology 14.56 86.00 62.78 47.62 29.76 21.33 Transportation -4.91 -12.22 4..25 9.89 10.12 11.47 U.S. Equity Index Characteristics as ot March 31 , 2000 Callan Callan Callan Callan Callan S&P Broad Large Medium Small Micro 500 Cap Range ($MM) 132-553,016 3,129-553,016 I, 732-28,482 132-20,603 33-2,228 316-553,016 #issues 2,000 150 350 1,500 1,000 500 % of Callan Broad !00% 66% 19% 15% NIA NIA Wtd Avg Mkt Cap $124.0B $183.48 $1\.68 $2.SB SMB Sl58.0B Price/Book Ratio 11.7 )2.7 I I.I 7.8 5.7 I I.I PIE Ratio (furecasted) 30.8 33.5 26.3 22.6 19.7 30.9 Dividend Yield 1.0% 0.9% 1.2% 1.1% 0.8% l.1% 5-Yr Earnings (forecasted) 20.7% 19.9% 22.8% 21.4% 19.2% 18.0% *Returns less than one year arc not annuali2cd. CA.lLAN A .. 'WCT. \TES. Buyback Program Helps Treasuries Recover The U.S. bond market regained its stability in the first quarter after four consecutive down quarters. Prices on most bonds rose, sending their yields lower. The Fed continued its campaign to fight anticipated inflation. Fueled by rising energy prices and a U.S. economy that grew at an astounding 7.3% annualized rate for 1999's fourth quarter, the Fed made two 25 basis point tightenings to raise the Fed Funds rate to 6.00%. These most re· cent moves by the Fed brought the total increases to 125 basis points since it began its current tightening phase in June 1999. Little evidence suggests that the Fed's initiatives have b een successful in curtailing tbe vigorous pace of the U.S. economy. Bolstered by the Treasury's program to buy back some of its outstanding public debt, the Lehman Brothers Treasury lndex had its best perfor· mance since 1998's credit crisis, returning 3.79% in the first quarter. The 30-year bond yield closed at 5.85%, down from last quarter's close of6.48%. Cutbacks in scheduled Treasury offerings also affected the market for inflation-indexed bonds, or TIPS, as real yields declined to the lowest levels in halfa year. The Lehman Brothers TIPS Index returned 4.31 % in the quarter; as the real yield slid from 4.25% to 3.95%. The yield curve experienced a dramatic flattening and then became in- verted over the first quarter. Short-tenn rates spiked from the two Fed tightenings, but the long end fell as the market reacted to tbe potential reduction in the supply of long-duration Treasuries. Reflecting this in- version, the Lehman Brothers Long Treasury Index jumped 8.06% while the Lehman Brothers Intermediate Treasury Index achieved a more moderate I. 79% gain. Spread product did not fare as well, as all spread product sectors underperformed their Treasury counterparts. The Lehman Brothers Aggngate Index (+2.21 %) was restrained by the performance of the Lehman Brothers Mortgage Index(+ l.38%) and the Lehman Broth· ers Corporate Index (+1.43%). Faced with increased stock market vola- tility, reduced Treasury supply, and Fed tightening, corporate spreads widened over the quarter: Jn the mortgage markets, GNMAs outperformed conventional mortgages due mainly to the fears that FNMAs and FHLMCs may lose their quasi-governmental status. The high yield sector was the worst-performing sector in the domestic fixed-income markets in the first quarter, with the Merrill Lynch High Yield Master Index falling l.80%. High yield bonds experienced sig- nificant spread widening due to extremely volatile equity markets, lack ofCBO issuance, and continued outflows from high yfoldmutual funds. Callan Style Group Returns First Quarter 2000 l~r-~~~~~~~~.,..-~~~~~~~--. '""' .,. ... . .. ,.. ~1 r-~~~~~~~~:--~~~~--',..~_.::-; wu.r.,..,,111< 1Srhl'<tun01t Mc.!i.-.. 1SthP~~fd' oO\h t'crcenlifc J,O'l\ I~ 01)% ··~ ·2,ll'J. .),(I"' 711 6S 6.0 !s.s .., ]1 > 50 4.5 I) ..!__ lrucm1cdJa~ Co'r'C'lkmd £K1.C"4cd ~Nr•ry HithYicld StYlt Sryt. Soy lo Sl)llc t 91 ).(JO II.QI HJ 11) l.l\O 11) ·0•6 I SO i 39 6.c>' .j.;s l )7 2.0l • 1• -2.Jlli o.ri I 76 ),l() -J..51 LBl:mwl.'0<1>l!!U:r LB Gov/Corp n~ Ul.DovlCOtJ>l.oft• Lii Curp HiJlh Y.d•I "' .. ' " 1.•o 2.~9 S59 Sector Performance First Quarter 2000 -D• LB Univcr.;al Index= 2.l l ~~ LB Aggrcgote Index• 2.21 % U.S. Treasury Yield Curves ---·-···--. ........................................... ... .-------·· -.... -. -..4 --- ----- --8egi11nin,e lorQu•l11!T2000 -·--'····End \st Quatttt"2000 --i< --End Isl QICIJ'lot 1999 10 15 lO 15 Moturily (Yun) 30 Effective Yield Spread over LB Treasury Index ... -LB Corponre High Yltld -LBCcrpBuBonds -LB Coll> A BonJs -LB C-orpllia ll<>od> r .. 00 4 CAli.AN A~S0Cf.ATF'..S •.. iw., .. ,,, .. "'""'CAPITAL MARKET ........ U.S. FIXED INCOME Style Median and Index Returns• for Periods ended March 31, 2000 Last Last Last 3 Last 5 Last 10 Last 15 Quarter Year Years Years Years Years Active Duration Style 2.39 1.88 6.62 7.04 8.15 9.51 Core Bond Style 2.39 2.00 6.81 7.28 8.32 9.49 LB Aggregate 2.21 1.88 6.71 7.14 8.02 9.21 LB Govt/Cotp 2.69 l.69 6.79 7.13 8.06 9.13 LB Govt 3.35 2.50 7.04 7.16 7.97 8.94 LB Corp 1.43 0.16 6.34 7.25 8.46 9.75 SSB Broad Investment Grade 2.19 1.81 6.68 7.14 8.07 9.27 Extended Maturity Style 6.04 1.18 9.04 9.22 10.17 11.24 LB Gov/Corp Long 5.59 0.91 8.69 8.78 9.61 11.02 LB Gov Long 7.72 2.65 9.71 9.29 9.87 11.31 LB Corp Long 1.86 ·2.11 6.62 7.74 9.06 10.57 SSB High Grade 2.41 ·2.48 6.63 7.50 8.85 10.58 ,:;-, :] lnten11ediate Style 1.50 2.20 6.14 6.60 7.69 8.74 LB Gov/Corp Intermediate 1.50 2.08 6.06 6.50 7.44 8.35 LB Gov Intermediate 1.64 2.41 6.09 6.41 7.29 822 LB Corp Intermediate 1.24 1.40 6.11 6.92 8.04 8.89 Defensive Style 1.27 4.04 5.93 6.26 6.96 8.03 Active Cash Style 1.49 5.27 5.76 5.88 5.94 6.82 Money Market Fundr (net of fees) 1.30 4.87 4.96 5.04 4.79 ML Treasury 1-3 Year 1.25 3.73 5.76 6.07 6.63 7.44 90-day Treasury BiUs 1.40 5.21 5.17 5.26 5.05 5.76 [~' ~ ,.;~~t. High Yield Style .J.55 -0.64 6.ll 9.29 12.50 I 1.43 LB Corp High Yield -2.34 -1.82 4.34 7,54 10.64 10.55 CSFB High Yield -1.29 0.30 4.40 7.79 11.21 10.83 ML High Yield Master -1.80 -1.32 4.90 7.94 10.83 10.82 I ~ ]; .. '. Mortgages Style 1.65 2.48 6.75 7.46 8.36 9.84 LB Mortgage-Backed Securities 1.38 2.25 6.50 7.1 8 7.91 9.45 LB Asset-Backed Securities 1.52 2.65 6.08 6.53 U.S. Fixed-Income Index Characteristics as of March 31, 2000 Yield Modified Adj. Average %of %of Lehman Brothers Indices To Worst Duration Maturity LBG/C LB Aggregate LB Aggregate 7.21 % 4.93 8.88 Yrs. 100.00% 100.00% LB Govt/Corp 6.97 5.44 9.87 100.00 63.27 fntennediate 6.99 3.45 4.39 70.00 44.29 Long Tenn 6.93 10.08 22.67 30.00 18.98 LB Govt 6.50 5.35 9.08 64.94 41.09 LB Corp 7.84 5.61 11.34 35.06 22.1 8 LB Mortgage 7.65 4.03 7.31 -33.95 LB Asset-Backed Securities 7.37 3.07 3.79 -L.34 LBCMBS 7.63 5.22 6.95 -1.44 LB Corp High Yield 12.49 4.64 7.81 -- • Returns less !ban one year are not annualized. 5 Stocks Abroad Wrestle with Direction The momentum in international equity in the fourth quarter of 1999 lost steam this quarte.r, as the MSCI EAFE index fell 0 .11 % and the MSCI AU Country World ex-U.S. index gained only 0.78%. Once again "New Economy" stocks outperfonned "Old Economy" stocks, with the technology, media, and relecom (TMT) sectors posting strong returns. The best performing industry groups in EAFE were the broadcasting & publishing (+25.7%) and energy equipment (+21.7%) sectors, and the worst was 11on:ferrous q1etals (-21.5%). The EAFE Growth index gained 1.48% while the MSCI Value index lost 1.90%. A II of this difference, and more, came from Europe where growth outperformed value by 8.6%. ln contrast, value outperformed growth in Japan by 8.0%, where the mtuerials and consumer goods sec- tors posted strong gains. Europe The MSCI Europe index was essentially flat for the quarter ( -0.08%) in dollar tenns but gained 3.51 % in local tenns. The euro continued its decline, losing 6.5% against the dollar during the quarter. The currency reached a new low of0.951 dollars on March 29 after brea~ing the psy- chologically important parity with the dollar during I.he early part of the quarter. Overall in Europe, media stocks had a good quarter (+27.95%). !11.formatfon 1ecli110/ogy (+14.10%) and telecommunication services (+ 10.32%) also were good perfonners. In contrast, the financial and materials sectors suffered disappointing returns of-7 .09% and -15.59%, respectively. The best perfonning European markets were Finland and Sweden, which were propelled by the stellar performance ofNok:ia and Ericsson. Strong performance by other telecoms (specifically Deutsche Telkom and France Telecom) also drove local returns in Gemiany (+9.87%) and France (+7. 75%). The MSCI U.K. index lost 5.54%, as interest rate increases in the short end during the quarter drew money into the bond market. Pacific Basin Japan (0.87%) was the only developed market in the MSCI Pacific in- dex to post a positive return in the quarter. Economic news continues to be weak: unemployment remains high. the government deficit is grow· ing and fourth quarter GDP contracted 5.5%. The story in Japan is cor· porate restructuring and "New Economy" stocks. The market was bifurcated as large and small stocks outperformed the broader market as investors focused on telecoms and fechnology shares. Singapore lost al- most 21 % while Australia and New Zealand fell 6.69% and 12.61%, respectively. Emerging Markets The emerging markets took a breather in the first quarter, with the MSCI Emerging Markets Free gaining 2.42%. Performance was fairly bal- anced between the regions, EMF Asia and Latin America returned 4.00% and 3.24%. respectively. Rerums within Asia varied greatly, ranging from a 41.36% gain in Pakistan 101111.29% loss !n Indonesia. Malaysia, which rejoins the index in May, returned 22.36%. In Latin America, Mex.ico (+4.51%) performed well on the back of an upgrade of its sovereign debt rating by Moody's. Callan Style Group Returns First Quarter 2000 1.-% ~---------------~ .,. 2"' "" ~ -m. ~~'-----------------' Gtobl!Equlty Sl.)le IOJJtP~t. 8,ll 2'1.h PerceotJJt. .if 64 Median l.J2 7jch Poa:arilc .2 69 90th Percentile .-..u MSCI World 8c:nch!'Nrks • t.Ol !'10.,.U.S.Eq11loy Sl)lle 561 J.4.! O.ll7 ·1.5'1 -))~ MSCI EJ\f'E ·0.11 ~e't8o~"'~ 10.211 6.<9 2.lS .-036 ·•.96 ~ISCl~~•"Fr« Regional Performance (based on US$) First Q uarter 2000 J.0% 1.0'>4 MSO ACWI Free (C>C US) ~ 0. 78% MSCl EAFE• -O.IJ% '·-o~,.. ·""1-~&~0~~:....--..lllllllllL: OCY.~ ·I .... ,. MSCI turor• MSCI Jopan ~ ·t.ll'~ i .],()% ~ ~()% ·S.O"~ Rolling One-Year Relative Returns vs. MSCI EAFE US$ s~~-----------------~ ·~,l~-------------~--~ ; lO'A 1 :(1)9 - a 11.1~ ~ ~ ~·t---"""11:~-...,..--:i--.:~-----------~---t JI I: .,oo;, " ~ .1a,\ ~ .JI'% 1----1 --~-·---MSCJ Pocilk -MSCI Europe -MSCI EAFE -w.<L-----================~-----__J \lO ., 92 Major Currencies vs. US$ Cumulative Returns Over last 25 Years .. liO JOO'!>~----------------~ -Japanese Yeo •11-Ge.nnan Mark/Euro -UKSmlins ·\Ulr.:.~----------------~ 6 CAUAN ASSOC! \IT$_ INTERNATIONAL EQUITY Style Median and lnde.x Returns• for Periods ended March 31, 2000 Last Last Last3 Quarter Vear Years Global Style 1.32 23.98 18.60 Non-U.S. Style 0.87 34.60 19.03 Core Style 0.44 30.81 18.31 Top Down Style -0.64 26.94 18.07 Bottom Up Style 1.00 32.55 17.75 Small Cap Style 12.81 63.66 17.31 MSCI EAFE-Unhedged -0.11 25.08 16.31 MSCI EAFE-Local 2.54 27.57 18.67 MSCI World-Unhedged 1.03 21.88 21.90 MSCI World-Local 2.35 22.93 23.14 MSCIAC World Free ex U.S.-Unhedged 0.78 28.88 15.60 MSCI AC World Free-Unhedged 1.17 23.41 21.23 . :-J"ji'"-4. :--: . -0.59 72.85 12.48 -0.24 65.77 22.69 0.43 68.50 0.89 -0.46 41.12 9.97 0.35 25.81 6.01 0.87 45.24 13.99 1.08 25.79 7.06 2.18 24.37 22.31 0.08 18.49 20.72 3.51 28.92 26.47 Emerging Markets Database 2.15 59.58 4.25 MSC! Emerging Market Free 2.42 51.59 1.23 Return Attribution for EAFE Countries First Quarter 2000 C::ountry (by w.lalllt) Tot.I Local Uait"d Klnsdom -~.S4% -4,S7% Jopan 0.87 l.ot Gemwiy 4.89 9.87 Fnace 2,87 7.75 SwilU!Wl<I ·S.93 -2.29 Ncthcrl3nd> ·3.S7 1.01 tioly .0.2) 4.SO Spain 1.26 6.01 Auttnlio -6.69 o.sa Hong Kons 0.47 0.64 Sw.tcn 17.71 19.04 FlnlAnd 11.60 16.90 Belgium .22.00 -18.29 Sing;iPo~ -20.99 -IU8 Ocnmllrk 7.13 12.27 P0tt11g:\I 1.96 6.81 Ireland ·1.84 2.82 Norway •7.13 -2.48 AUstm -10.82 -6.SS 'N~Zcaland ·l2.6l -8.24 •Returns less than one year are nol annualized. ""' fl"W'"' mxiCAPITAL MARm """'"' C11~ncy -I.OZ~~ -0.21 -4.S3 -4.53 -3.73 -4.Sl -4.53 -4.Sl -7.23 .0,11 -1.12 -4.S3 -4.54 -2.60 -4.58 ·4.S4 -4.S3 .... 77 -4.S4 -4.16 New Zealand 0.1•• Ausir~0.2% Norway O.l ln:landM% Ponug•I O.S% Btl!l'Dtn 0. 7'1~ D<llmtrl:O,S~ Singop<>r• o.v· ll0t1& Ko~g 1.3'!\ Aunndi>LJ'H. CAllAN ASSOCJATES., Lasts Last 10 Last 15 Years Years Years 18.51 14.12 16.85 17.04 12.42 17.76 16.06 12.13 17.75 16.14 11.64 17.67 16.72 12.27 17.76 15.30 12.04 12.39 9.39 15.25 18.18 8.62 11.53 18.91 13.28 15.85 22.21 12.65 13.82 12.49 9.70 18.63 13.57 8.79 8.69 15.80 9.78 6.89 16.05 4.10 10.67 15.12 2.73 3.91 11.27 6.24 0.38 6.40 2.58 3.15 11.01 6.16 -1.21 4.57 23.Jl 15.U 21.46 20.68 14.19 18.78 26.76 16.09 16.49 8.66 12.41 5.23 12.14 Country Weights -EAFE A s of March 31, 2000 UK IQ.11% 7 Foreign Bonds Fall Again on Dollar Strength In the wake ofa rough 1999 (-5.07%), the Sa1omon Non-U.S. Govern- ment Bond Index suffered another trying quarter, falling 1.16% in dol- lar terms. In local terms, however, the index managed a modest 1.26% gain. Europe The euro, showing a Rodney Dangerfield-like lack of respect, again lost ground to the dollar over the first quarter. Although the European Gov· emment Bond Index locally rallied 1.90% in the quarter, the strengthen- ing dollar erased all of those gains and more forunhedged U.S. investors, losing 2.73%. Outside the eurozone, the story was more palatable. De- spite modest dollar strength against the pound, the U.K. market man- aged to pick up 1.17% for dollar investors, as the Gilts rallied 2.21% in local currency tenns. Japan Mixed economic news in Japan led to a nearly Oat quarter for the largest component (37%) of the Salomon Brothers Non-U.S. Government Bond Index. The Japan index fell just 0.06% in local terms, while the dollar actually strengthened slightly to hand U.S. investors a 0.26% loss. Offi- etally, after two consecutive quarters with negative GDP growth, Japan is back in recession. However, a variety of indicators and surveys sug- gests the economy wm rebound this year. Callan Style Group Returns First Quarter 2000 l.O.. ..------------------, """ 1.11.t ...... '·"" Q.S~ • ... 1----~ .tl.J~ ...... ··-~ -l"" -~Ii .jJ~-\ .__ _______ .....:... _______ __, IOU. Pe.rt.c.nti!c 2.51hPcl"«'n1t1c Mccli:a~ 1Sl.hPcttt:Rlik. 9()1.h Pt•ccnHlt Uaot>al Fhtd Sl)'lc 2.16 O~I -OJ6 .(),k7 ·l~l SSB _(".,.. Uollcds<d 0.11 Emerging Markets N~USFiitJ Stylr .0 61 .f.L.I ·I.SI ··~~l .!j) sso lfon.us <lov. U•hcd•"' \,IA Vladimir Putin's presidential election victory led to a blazing first quar- ter Russian return of 41.31 % (in dollar terms). The largest members of the EMBI+ Index (i.e., Argentina, Brazil, and Mexico) all posted healthy gains. Overall, the EMBI+ rose 7.62% for the quarter. INTERNATIONAL FIXED INCOME Style Median and Index Returns• for Periods ended March 31, 2000 Last Quarter [ h b. ®tfiiifr;·l Global Style -0.36 SSB World Govt-Unhedged 0.17 SSB World Govt-Local l.94 Non-U.S. Style -1.58 SSB Non-U.S. Govt-Unhedged -1.16 SSB Non-U.S. Govt-Local 1.26 JPM Emerg Mkts Bond Index 7.62 Return Attribution for Non-U.S. Gov't Indices First Quarter 2000 Country {by welcht) Tot.I Japan --0.260,1. Germany -2. 71 France -2.84 Italy -2.68 United Kingdom 1.17 Canada 3.44 Sp~in -2.67 Netherlands ·2.68 Belgium -2. 74 Ocnmark -2.98 Sweden l.S3 Austria -2.87 AuSllllliD -).74 Finland -'2,81 Switzerland -6.22 Portugal -2.57 Jn: land ·2.44 • Relums less than one year are not annualized. •• Derived from MSCI EAFE data Local ·0.06% 1.91 1.78 1.94 2.21 3.48 1.96 1.95 1.89 1.67 2.68 l.7S 3.78 1.81 ·2.S9 l .07 2.20 Currmcy•• ·0.21% -4.53 -4.S3 -4.S3 -1.02 -0.04 -4.53 .453 -4.54 ·4.S8 -1.12 -4.54 -7.23 .4,53 -3.73 -4.54 -4.S3 Last Year -2.15 -0.26 0.69 -3.30 -1.40 -0.13 29.04 Last 3 Last5 Years Years 4.44 5.27 4.95 4.26 6.29 7.73 3.38 3.82 3.94 2.84 5.88 8.00 8.63 20.74 Last 10 Years 8.95 8.47 8.80 9.53 9.18 9.27 Last 15 Years 12.14 10.19 12.90 11.65 8.47 Country W eights -SSB Non-U.S. Govt As of March 31, 2000 8 CAilAN A~S()Cl.i\'fE.;;. "'"~ .. ..,,.~ .. ~,CAPITAL ~1.\RKliT ......... Real Estate Corner In the first quarter, the private equity real estate m;uket marginally underperformed the public REIT market Based on preliminary estimate-s, Callan 's median manager of direct real estate investments gained 1.82% while the NARElT Equity Index gained 23 9%. U.S. property markets are in a mature stage in the real estate cycle but continue to experience moderate growth fueled by the strong U.S. economy. The supply/demaod equation for real estate has remained more balanced due to increased capital and property market transparency pro- vided by the new REIT and CMBS markets that did not exist during the late 1980s. Although vacancy rates in most major property types are at their lowest levels in 20 years, construction starts declined. Because of these fact-0rs, rental rates continued to increase moderately in the last quarter. JOlbP~cuc. .!lltl hrttnlilc Mafriu ?!fuPtcc~1ilc -9()thPefcit.tllilit Callan Database Group Returns First Quarter ZOOO l(col E>tllc0.1>bosc 267 '?.19 l.&"2 13• •l,10 NCRF.IF TCUll ll>da" 21! C.Ul <l.32 l.IU 2.05 1.71 NARErT~uity :,}9 NAREIT Equity Sector Performance First Quarter 2000 Within the property sectors, pricing of apartments has become more ag- gressive, since institutional investors consider this sector more apPeal- ing as it tends to be a more defensive play during economic uncertainty. Although NAREIT's apartment seotoryielded a modest 1.70% advance last quarter, underlying property returns continue to be strong. Renter demand is supported by the demographic trend ofincreasing numbers of retirees and children of baby boomers as well as baby boomers in urban markets unable to afford the rising borne prices. ••••••ii:==::J 12,.1~ NAREIT's office sector (+6.01%) gained strongly in tbe quarter, pros- pering from increasing rents. particularly on the West Coast. The indus- trial sector (+4.07%) had moderate, but uneven, growth during the first quarter as investors tried to capitalize on locations ideally situated fore~ commerce distribution. On the other hand, the growing e-commerce trend continued to hamper the retail sector, which remained virtually flat (+ 1.26%) last quarter with investoi: fears that the Internet will decrease space demand. we. ~~\ C' -! 5. -~~ ~ "' Hr.~ i ~ 0 ~··~ -10'.I. -S'Ai Return Rolling One-Year Returns ~ .JIJK ,_ ______ _, ·-L_ _____ __::===============---_J REAL ESTATE Database Median and Index Returns* for Periods ended March 31 , 2000 Last Last Last 3 Last 5 Last 10 Last 15 Quarter Year Years Years Years Years --Real Estate Database (net 0;ffees) 1.82 10.79 14.46 12.13 6.28 6.73 NCREI.F Total Index•• 2.76 11.10 13.74 11.78 5.70 6.78 REIT Database 3.10 6.76 1.5.9 11.82 11.82 9.33 NARBIT Equity 2.39 2.61 ~l.27 8.64 9.83 9.29 • Returns less than one year are not annualized. 0 Latest quarterly returns not available; returns shown are for periods ended December 3J, 1999 CALI.AN A:3'f.)U.\~~ 1.5% 9 Alternative Thoughts Fund-raising The first quarter started off with a strong rate of fund-raising, yielding $16 billion in new private equity commitments, a 37% increase over the $1 1. 7 billion in first quarter of 1999. Venture capital continues to outpace the historical trend by garnering more capital than buyouts for the third quarter in a row. On a capitaliza- tion basis, the two strategies were about equal, but venture capital counted for about 68% of funds formed. Venture capital is seemingly on its way to another record year with 14 more partnerships being formed for $4. 7 billion more in capital than the first quarter of I 999. While a small part of the year-to-date fund-raising, subordinated debt also had a large increase over first quarter last year. The strategy jumped from $135 million, or 1.2% of the market, to $1.2 billion, or 7.4% of the market, which included a few "captive" mezzanine funds raised to sup- port their main investment vehicle. Venture Capital Venture capitalists continue to raise and deploy large pools of capital into early and late stage investments at a rapid pace, although many have shifted their areas of interest. While the overriding focus remains on the Internet and communications, infrastructure and wireless systems are replacing business-to-consumer and business-to-business, which have quickly fallen out of favor with both private and public investors. The IPO market remained active in the first quarter, with 13 7 companies going public, despite the market's increasingly selective support for "dot.com" companies. Funds Closed January 1 through March 31, 2000 Strategy #of Funds S Amt (mil) o/o Venture Capittil 38 7,249 45.2 Acquisition/Buyout 12 7,110 44.4 Subordinated Debt 3 J, 191 7.4 Restructuring 0.0 Other 0.0 Fund-Of-Funds 3 4-76 3.0 Totals 56 16,026 100.0 Sourer: The Privute E'luily Anuly.rt and B11yuu/s Buyouts The recent high rerums of technology companies have attracted the at- tention of the buyout community. Many traditional "bricks and mortar" buyout groups have started new funds to focus on technology buyouts or have partnered with other groups to make more venture-like investments. The trend in buyouts toward increasingly larger pools wilJ cjefinitely result in several multi-billion dollar funds being formed in 2000. lt is interesting to note that buyout groups are not paying higher multiples for investments. Multiples that rose throughout the 1990s decreased re- cently. Average multiples paid by financial buyers went from 8.6x in 1998 to 8.3x in 1999. In the first quarter of 2000, the average multiple fell to 7.9x. ALTERNATIVE INVESTMENTS Style Median and Index Returns• for Periods ended March 31, 2000 Last Last Last 3 Lasts Last 10 Last 15 Quarter Year Years Years Years Years Convertibles Databasa 7.94 29.53 20.80 19.84 15.72 14.62 CSFB Convertible Securities 6.49 45.84 23.37 20.21 15.70 14.36 t: ::~ ..ea ...... Market Neutral Equity Style -3.21 -2.99 4.12 7.06 9.60 13.21 90-Day T-Bills 1.40 521 5.17 5.26 5.05 5.76 f ' .• ---~ VE Post Venture Cap Index 7.89 74.68 53.03 36.83 26.79 GS Commodity Index 12.61 41.69 3.22 10.65 6.81 10.63 MLM Managed Futures Index -0.38 2.20 7.71 9.01 8.01 9.81 • Returns less than one year are not ai111ualized. J() CALLAN 1\S~OCT \1lli ,, ... ''""""·mK•CAPIT1\L MARKfil' .. ""'" A New Speed Limit for the Economy? The cuuent U.S. expansion hit nine years in March, becoming the oldest on record. Expansions never die of old age, however, and signs of strain or imbalance in the U.S. economy are few. Recent growth in the economy has been truly astounding: real GDP grew by 7.3% in the fourth quarter of 1999, followed by a solid 5.4% gain in the first quarter of 2000. De- spite historical precedence and the paranoid musings of the Federal Re- serve, this robust growth has not pushed the U.S. economy to the bri.nk of potential disaster. Oil prices are sliding back after peaking in early March, inflation is still very low i:elative to history, productivity growth appears to be increas- ing as the expansion continues, and the prospect for a ten-year old (and perhaps an eleven-and twelve-year old) expansion -seems high. The only signs of imbalance are the trade gap, which is at an all-time high, and the stock market, to the extent that it distorts consumer spending. The question is whether the U.S. economy has evolved to the point Where we need to reset the "speed limit," or the long-tenn trend rate of growth, which a consensus of mainstream economists would tell us is about 2.0 to 2.5% annually. Theory would tell us that sustained growth above this speed limit would lead to supply and demand distortions and rising in- flationary pressures. Few signs suggest that the recent strong GDP growth is causing infla- tionary pressures. While inflation appears to have passed its lowest point in the current cycle and is now gradually rising, year-over-year increases are still very small: core inflation (excluding food and energy) is up only 2.1 % from a year earlier. Even with oil prices shooting up in 1999, real wages rose only 1.8% for the year, the result of strong productivity growth. In most expansions, productivity growth begins strong and tapers off, as obvious investment opportunities are taken early and the best-qualified and most productive workers are put to work first. This pattern was re- versed in the 1990s, as productivity gains started slow and gathered momentum with a maturing expansion. Massive investment in technol- ogy during the decade has made all workers more productive, and as labor markets have grown tighter, employers have been able to substi- Inflation -Year over Year -PP! (All Commodilio;) • ----CPI (All U<hon C1'11>.11J1tt1s) l~)t------ '""'--------------------~ tute capital not only for labor but for skill -making use of the cheapest possible labor to get the task done.As a result, we have the lowest unem- ployment rate in 30 years, with few signs of measured wage inflation. Do the Fed's brakes still work? lf the Fed has increased interest rate.s five times in the past year, how come the economy is grov.ring faster and not slowing down? ln the past, interest rate hikes have taken a year for their impact to be felt in the economy. The rate hikes that began last June should not begin to show up until this summer. The sectors likely to be hit first -housing, consumer durables, autos -are precisely those sec- tors that have benefited most from the stock-market fueled giddiness in consumer sentiment. The Fed claims to be interested not in the stock market itself, but in the impact of the market on the economy -the con- sumers are what the Fed has in mind. The record trade deficit continues to widen. A widening deficit should depress the value of the dollar, but financial flows are dominating goods flows. Demand for investments in the U.S. is more than offsetting the trade gap in goods, thus keeping the dollar strong. As a result, the usual self-correcting mechanism for a trade gap -rising import prices and falling export prices -is being overrun, and the strong dollar is exacer- bating the trade gap. American goods are less competitive overseas, which may sow the seeds for slower economic growth in the future. U.S. ECONOMY Recent Quarterly Indicators 2Q98 3Q98 4Q98 1Q99 2Q99 3Q99 4Q99 1Q2000 CPI ·All Urban Consumers (year over year) l.7% l.5% 1.6% 1.7% 2.0% 2.6% 2.7% 3.7% PPl • Finished Goods (year over year) -1.9% -2.~lo -3.2% -1.7% 0.2% 3.4% 4.2% 6.9% Employment Cost -Total Compensation Growth 3.6% 4.1% 2.9% 1.4% 4.6% 3A% 4.3% 4 .. 6% Manufacturing Output -Productivity Growth 0.3% 2.5% 4.3% 3.5% 0.6% 5.0% 6.4% 3.8% GDP Growth 1.8% 3.7% 6.0% 4.3% l.9% 5.7% 7.3% 5.4%• Manufacturing C<1pacity Utilization (level%) 81.2 80.2 80.J 79.5 79.5 79.7 80.1 81.7 Consumer Confidence fndex (1966=1.000) 1.069 1.035 1.002 1.059 1.062 1.059 1.053 I.IOI • Preliminary CALLAN AS.~.>< :LATE.~-11 All Things Considered Following an impressive fourth quarter, most plans still managed to gar- ner positive returns again in the first quarter based on Callan estimates. With returns for the major asset classes being fairly well aligned, the dispersion of returns among the various fund sponsors was limited. Using the median manager returns from the latest quarter and ending asset allocations from the prior quarter, Callan estimates lhe recent total returns of the institutional investor conununity. The adjacent graph illustrating the range of returns for public, corporate, and Taft-Hartley pension plans as well as endowments/foundations shows positive returns across the board. The table below compares the returns of the four instin:ttional fund sponsors over longer periods. Choices in asset allocation explain much of the difference in performance. Last quarter, endowments and foundations marginally led the way with a median 2.92% gain supported by their typically heavier exposure to domestic equities. Their higher allocations to alternative investments like private equity also helped to boost their total fund return. Despite differ- ent asset nllocations, corporate and Taft-Hartley plan sponsors closely matched perfonnance, posting gains of2.82% nnd 2.84% respectively for the quarter. Not far behind, pubhc plan returns (+2. 76%) were damp- ened somewhal by their relatively low exposure to domestic equities and relatively high exposure to mtemational equities. Callan's balanced manager groups generally maintain well-diversified ponfolios and attempt to add value by underwcighting or ovenveightlng asset classes as well as by stock selecllon. In the recent quarter, both ~lobal and domestic balanced managers beat their respective 60% eq- uity and 40% fixed-income benchmarks. J.41'• Huh Pctttotlle 25th Pcrctn1Ue MC~I>" 7;1h re-rC(-r'llltc 'Kkh rc1c~ntlk 20 IO D Callan Style Group Re turns First Quarter 2000 rubli< rlon Cocpor:ue J'l.3.n EnJ<>wlFound Oaub~c. O;il31nloC D;>Ll-h.J11:e- ll~ 3'1> l.Sl !,_9) J().I l.l~ !,,1t+ 2 Ml 292 2-S1 :!-61 1_6q ~s HI :!.SI Average Asset Allocation as of December 31, 1999 •Public COJ'l)Ol~IC • ~ndowmcnllf\'DndMioo • Tan-ll.uli<)' T•fl·ll>nlcy 011~M!\c l.11 a~ HJ ~66 :?,SJ U.S. Equi1y Non-ll.S U.S. Flxcd )fon-U.S. l!<:.11 E.'"'"' ,\IL la". Equ;ty f jl(l:J DIVERSIFIED ACCOUNT DATABASE Database Median and Index Returns• for Periods ende d March 31 , 2000 Last Quarter f &.ID~•~I :1 :.. Public Plw1 Database 2.76 Co1porare Plan Dawbase 2.82 Endowmen1/Founda1io11 Database 2.92 Tafi-Harlley Da1abase ~84 [ : ~ItP• ·1!·~~~~ I ~ Asset Alloc:ator Style 2.79 Domestk Balanced Database 3.08 Global Balanced Database 1.02 60% S&P 500 + 40% LB Aggregate 2.26 60% MSCI World + 40% SSB World Govt 0,69 • Returns less than one year are no\ annu3li-zed. The Capital Market Review is published qu:incrly for members of the institutional iovcsuncnt community, bolh domestic :1nd inlcmalion:il. The Capit:ll Market Re· view focuses primarily on the latest quarterly pccforrnanec of marker indices Jnd Callan style groups for each of the m:ijor asset cl:isscs used by institutional inves- tors. Capi1.1l Market Review contributors 11rC ns follows: Gary Robertson. Altcmativc I nvcsuncnt.' fay Kloepfer, Economy Janet Becker-Wold, Non-U.S. Equity Michael Fredericks, Non-U.S. Fixed-Income Jamie Kuster, Real 8c1c Last Last 3 Last 5 Last 10 Last 15 Year Years Years Years Years 15 67 16.86 16, 17 13.04 12.92 16.09 17.39 17 68 14.10 14.40 15.00 17.52 !7.42 13.04 13.37 12.7~ 16.39 16.14 12.67 12.39 ~~ 12.46 19.36 18.20 15.0J !5.35 1167 17.23 16.81 13.79 14.22 12.40 }4.98 15.15 13.12 14.60 l l.64 19.25 18.90 14.64 14.98 13.01 15.46 13.23 11.65 13.93 Jim McKee. U,S, Equity A<J;im Lawlor, U.S. fixed-Income Juliu Moriarty, Diversified AccountS. Ctv!R Pcrformanc~ Data Tanja Eisenhardt, Publication Layout ~ Callan A.'>Soci:Uc> Inc. is ;i pnvately·hcld :md 100 percent employee-owned firm Whose sole bui;inc~~ i$ ~rntcgic :1~1 m11Mgcmcnt eon."11lling a.s un u1dcpcndcnl. objective third p:my, Hcadqu.:irtcrcd in Sl!l1 Fr:u1ci~co, CDllan DISO h:i.~ rcgionJI oi· fices in Chie:igo, Morristown, Atlam:i nnd Qcnvcr, 1C 200() Callan Associates lr1c, 12 CAILAN J\Sr;;:.c )CL \TE..:;., MARKET OVERVIEW • ACTIVE MANAGEMENT VS INDEX RETURNS Market Overview The charts below illustrate the range of returns across managers in Callan's Separate Account database over the most recent one quarter and one year time periods. The database is broken down by asset class to illustrate the difference :i.n returns across those asset classes. An appropriate index is also shown for each asset class for comparison purposes. As an example, the first bar in the upper chart illustrates the range of returns for domestic equity managers over the last quarter. The triangle represents the S&P 500 return. The number next to the triangle represents the ranking of the S&P 500 in the domestic equity manager database. "' j (5%)- Range of Separate Account Manager Returns by Asset Class One Quarter Ended March 31, 2000 I L I I (J )~ -,1-__._._7_1,__ __ _ (25).~ I ( , *'= (lOo/0-'-~~~~~~~~~~---~~~~~~~~~~~"--~-:-~~~~~C-a_s_h~~ Domestic Non-US Domestic Non-US Real I 0th Percentile 25th Percentile Median 15th Percentile 90th Percentile lndex "' 100% 80% 60% "' j 40% Equity Equity Fixed-Income vs vs Vll S&PSOO MSClEAFE LBAggrBd 18.75 5.63 2.81 10.81 3.42 2.30 5.00 0.87 1.74 1.88 {1.56~ 1.39 (1.51) 3.36 1.11 2.29 (0.11) 2.21 Fixed-Income vs SB Non-US Gov !'" l.15 1.58 1.81 2.52 (1.16) Estate vs NCREIF lndex 2.67 2.19 1.82 1.39 (1.20) 2.76 Equivalents vs 3 Mon T-Bills 1.59 1.52 1.47 l.39 l.36 1.40 Range of Separate Account Manager Returns by Asset Class One Year Ended March 31, 2000 20%-(65) .. (79)~ (43)~ I 0% \9~ (61)"*===. Do.mrstir Non-US Real Cash ~O%).....__~D-o-m-~-h-.c~~~-N-'o-n--U-S~~~-:-~~~~~~~,,-~..__~-=-~~~~~=-~~~ .10th Percentile 25th Percentile Median 15th Percentile 90th Percentile Index "' Orange County Sanitation District Equity Equity VS VS S&PSOO MSCIEAFE 87.74 62.86 43.52 49.34 23.69 34.60 13.13 25.81 2.54 18.89 17.94 25.08 Fixed-Income VS LBAggrBd 4.02 2.90 2.12 l.56 0.77 1.88 Find-Income Estate Equivalents vs VS vs SB Non-US Gov NCREIF Index 3 Mon T-Bills ri 22.91 5.68 2.61 14.75 5.58 .30 10.79 5.33 4.84 9.71 5.02 6.05 4.22 4.77 (l.40) 11.30 5.21 9 DOMESTIC FIXED-INCOME Active Management Overview Active Management vs the Jndex The Core Bond style group recovered from its founh quarter decline to produce a 2.39% return for the first quarter of 2000, outperforming the Lehman Aggregate by 18 basis points, but underperfonni.ng the Lehman Govt/Corp Index by 30 basis points. Core Bonds surpassed both indices fo r tlle one-year period, posting a return of 2.00%, compared to a 1.88% return for the Aggregate and a 1.69% return for the Govt/Corp Index. Short Duration vs Long Due to a surplus in the U.S. budget, which caused an inverted yield curve, the Extended Maturity style group outperfonned its Intennediate and Defensive peers for the quarter ended March 31, 2000. Extended Maturity managers posted a median return of 6.04%, while the Intermediate style group returned 1.50% and Defensive funds returned 1.27%. For the year, short duration bonds displayed their longer term superiority, as the Defensive style exceeded the Extended Maturity style by 286 basis points. Mortgages and C orporates After a strong showing for the fourth quarter of 1999, the High Yield style group fell back into negative territory for tl1e first quarter of 2000, with a return of (155%). Mortgage Backed funds returned l.65%, underperforming the Core Bond style for the quarter, but bringing their one-year return ahead of Core Bond's by 48 basis points. The Lehman Brothers Corporate Index came out slightly ahead of the Lehman Brothers Mortgage Index this quarter, with its 1.43% return exceeding tbe Mortgage Index by 0.05%. ti) E a ~ 8% Separate Account Style Group Median Returns for Quarter Ended March 31, 2000 6.04% Lehman Aggregate: 2.21 % Lehman Govt/Corp: 2.69% ~------------------- Oo/o ~~------------------------------~~~--- (4%) Active Defensive lntermed Core Cash Bond Core Plus Extended Active Mortgage Hil!.h Maturity Duration Backed Yield Separate Account Style Group Median Returns Lehman Aggregate: 1.88% for One Year Ended March 31, 2000 8%.-~~~~~~~~~~-~~~~~~~~~~~~~-t__Le_h_m_an~G_o_vtJ_c_o_~_:~-1-.6-9_%_, 6% 1---!iIT"To ------------------------------- 4% 2% 0%1--- (2%) Active Cash 4.04% 2.20% Defensive lntenned 2.00% Core Bond 1.91% 1.88% Core Plus -:n~---- Extended Maturity Active Duration 2.48% Mortgage Backed (0.64%) Orange County Sanitation District II 10 • Asset Class Risk and Return The charts below show the four and one-half year annualized risk and return for each asset class component of the Total Fund. The first graph contrasts these values with those of the appropriate index for each asset class. The second chart contra5ts them with the risk and return of the median portfolio in each of the CAI Total Asset Class Databases. In each case, the crosshairs on the chart represent the return and risk of the Total Fund. en ~ Q) IZ en E a Q) IZ 6.2% 6.0% . 5.8% 5.6% 5.4% 5.2% - 5.0% Four And One-Half Year Annualized Risk vs Return Asset Classes vs Benchmark Indices I Total Domestic Fi"ed·lncome. I I ML GovtJCorp I ·5 A+ I I Me1Till Lynch l-3yr Govt/Corp ...... " MLISG/C I / I Lehman Brothers 1-Svr Govt/Cor I ~ 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% l.2% 1.4% 1.6% 1.8% 2.0% 2.2% 2.4% 6.2% 6.0% 5.8% 5.6% 5.4% 5.2% 5.0% 4.8% Standard Deviation Four And One-Half Year Annualized Risk vs Return Asset Classes vs Asset Class Median I Total Domestic Fixed-Income I Defensive Fixed-Jncomc S!yle ...... ..., Monev Market Median I 0.0% 0.2% 0.4% 0.6% 0.8% 1.0% 1.2% 1.4% 1.6% 1.8% 2.0% 2.2% 2.4% Standard Deviation Orange County Sanitation District 1 f 11 Investment Manager Asset Allocation The table below contrasts the distribution of assets across the Fund's investment managers as of March 31, 2000, with the distribution as of December 31, 1999. Asset Distribution Across Investment Managers Domestic Fixed Income Long Term Operating Fund Liquid Operating,Monies Total Fund Orange County Sanitation District March 31, 2000 Market Value Percent $371,295,372 100.0% 35 1,406,822 94.6% 19,888550 5.4% $371,295,372 100.0% December 31, 1999 Market Value Percent $302,145,919 100.0% 282,593,851 93.5% 19.552,069 6.5% $302,145,919 100.0% 12 ., Investment Manager Returns The table below details the rates of return for the plan's investment managers over various time periods ended March 31, 2000. Negative returns are shown in red, positive returns in black. Returns for one year or greater are annualized. The first set of returns for each asset class represents the composite returns for all the fund's accounts for that asset class. Returns for Periods Ended March 31, 2000 Last Last Last Last Last 2 3 4-112 Quarter Year Years Years Years Domestic Fixed Income 1.64% 3.63% 5.21 O.fo 6.27°/o 6.06% Long Term Operating Fund 1.65% 3.52% 5.19% 6.31% 6.09% Liquid Operating Monies 1.45% 5.41% 5.44% 5.51% 5.52% Liquid Operating Monies (1) 1.41% 5.25% 5.28% 5.36% 5.37% Market Indicators .LB l-5yr Govt/Corp 1.30% 3.42% 4.93% 5.76% 5.61% ML l-3yr Govt/Corp 1.24% 3.79% 4.98% 5.83% 5.74% ML l-5yr Govt/Corp 1.27% 3.06% 4.75% 5.96% 5.75% ML l-5yr GJC excl. BBBs 1.28% 3.05% 4.72% 5.92% 5.72% Treasury Bills 1.40% 5.21% 5.10% 5.17% 5.21% Total Fund 1.64% 3.63% 5.21% 6.27% 6.06% (1) Net of Fees. Orange County Sanitation District II 13 PIMCO-LIQUID OPERATING MONEY PERIOD ENDED MARCH 31, 2000 II r j ~ 11) Investment Philosophy The Money Market Funds Database consists of actively managed short tenn funds. These funds invest in low-risk, highly liquid, short-term financial instruments. Quarterly Summary and Highlights • PIMCO-Liquid Operating Money's portfolio posted a 1.45% return for the quarter placing it in the 2 percentile of the Money Market Database group for the quarter and in the 3 percentile for the last year. • PIMCO-Liquid Operating Money's portfolio outperformed the T-Bls by 0.05% for the quarter and outperformed the T-Bls for the year by 0.20%. Quarterly Asset Growth Beginning Market Value $19,552,069 Net New Investment $24,542 Investment Gains/(Losses) $311,939 Ending Market Value $19,888,550 Performance vs Money Market Database 7% 6% 5% . 4% 3% - 2% - (11) !I! ~~f~~ 1% 0% 10th Percentile 25th Percentile Median 75tb Percentile 90th Percentile PIMCO·Liquid Opemling Money •A Net ofFees • B T-Bls * Last Quarter 1.40 136 1.30 1.24 1.17 l.45 J.41 1.40 (14)~ ·,~m) Last Year 527 5.09 487 4.62 4,35 5.41 5.25 5.21 Relative Return vs T-Bls 0.25% .--------..,----..,..----.----....,...-, 0.20% 0.15% 0.10% I l (24)~· .. ,~m (25)+===-j~~~ (22)~~f§j Last2 Ve1\rs Last 3 Years Last 4-1/2 Years "' 5.26 5.34 5.34 5.09 5.17 5.19 4.88 4.96 4.99 4.64 4.74 4,78 4.41 4.53 4.58 5.44 5.51 5.52 5.28 5.36 5.37 5.10 5.17 5.21 Money Mar)(et Database Annualized Four And One-Half Year Risk vs Return 6.0% .,...---...,.,--------------, ( Net of Fees I . '; 5.5% 5.0% _Qi__"l_P_lM_C_O_·_Lf_q1u-id_0_1p-1e_ra_tin_1a_M_o_n_ev""'1 ~ 4.5% > 0.05% ·~ ~ \r~ ~ 0.00% (0.05%) (0.10%) ----------------~ 95 1996 1997 1998 1999 0 1 • PIMCO-Liquid Operating Money I Orange County Sanitation District 4.0% 3.5% 3.0% I 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 Standard Deviation 14 0 PIMCO-LONG TERM OPERATING FUND PERIOD ENDED MARCH 31, 2000 II Investment Philosophy Defensive Style managers aim to minimize interest rate risk by investing predominantly in short to intermediate term securities. The average portfolio maturity is typically two to five years. Quarterly Summary and Highlights • PIMCO-Long Term Operating Fund's portfolio posted a 1.65% return for the quarter placing it in the 4 percentile of the Defensive Fixed-Income Style group for the quarter and in the 80 percentile for the last year. • PIMCO-Long Term Operating Fund's portfolio outperformed the ML15 G/C by 0.38% for the quarter and outperformed the MLl5 G/C for the year by 0.45%. Quarterly Asset Growth Beginning Market Value Net New Investment Investment Gains/(Losses) Ending Market Value $282,593,851 $63,499,944 $5,313,028 $351,406,822 Performance vs Defensive Fixed-Income Style 7% 6% - 5% ~ 4% 3% 2% ~ A(4) {50)~]8(49) I 1% I 0% Last Quarter I 0th Percentile 1.52 25th Percentile 1.42 Median 1.27 15th Percentile 1.21 90th Percentile I.I I PIMCO-Long Tenn e A l.65 ~A~O (91) 8(91 Last Year 4.53 4.32 4.04 3.63 3.22 3.52 J ~A(8) I -~A(20 (46)> 8(501 (62)1* fa B{6S ~A(44 (87) B(87) Last 2 Years S.40 5.28 5.05 4.91 4.69 S.l9 Last 3 Years 6.24 6.07 5.93 5.70 5.62 631 Last 4-1/2 Years 6.18 6.08 5.85 5.69 5.50 Operating Fund ML U/C 1-S cxcl. BBl3s 9B 1.28 3.0S 4.72 5.92 6.09 5.72 MLIS G/C • 1.27 3.06 Relative Return vs ML15 G/C 0.5% 0.4% 0.3% <II E 0.2% ~ ~ 0.1% Q) ·S 0.0% «! Q) ~ (0.1%) (0.2%) (0.3%) 95 1996 1997 1998 1999 I • PIMCO-Long Term Operating Fund i Orange County Sanitation District Cf) ~ ~ 0 4.75 5.96 5.75 Defensive Fixed-Income Style Annualized Four And One-Half Year Risk vs Return 6.4% ....-----------------~ 62% 0 6.0% 5.8% 0 5.6% 0 S.4% 5.2% 0.5 0 ![Jl D 0 C• 0 D PIMCO-Lone. Term 0 eratine. Fund D a u ML GIC l-S cxcl. BBBs 0 1.0 1.5 2.0 2.5 Standard Deviation 3.0 15 LONG TERM OPERATING FUND PORTFOLIO CHARACTERISTICS SUMMARY MARCH 31, 2000 II Portfolio Structure Comparison The charts below compare the structure of the portfolio to that of the index from the three perspectives that have the greatest influence on retwn. The first chart compares the two portfolios across the different sectors. The second chart compares the duration distribution (or term structure). The last chart compares the distribution across quality cells. Treasuries 26% Sector Allocation Treasuries 54% Asset Backed 11% Agencies l2% Cash 21% Comomtes :!2% Long Term Operating Fund Duration Distribution .Q 40% "Js:!'IC -~ 0 30% ~ ..... 0 .... 20% c Q) 0 ti 10% Q.. 0% <I.O l.0· 1.S 1.5-2.0 2.0-2.5 Lehman Government/Corporate 1-5 Weighted Average Duration • Long Term Operating Fund: 2.42 D Lehman Government/Corporate 1-5: 2.37 2.5-3.0 3.0-3-5 3.S-4.0 4.o+ Years Duration Quality Distribution Weighted Average Quality 100% ~---.----.-------.,----,.----1 • Long Term Operating Fund: Aal D Lelunan Government/Corporate 1-5: Aal --- 0% LW~.3% 2 ~=,~~;~[s~~%-.;;.~;,;~ 2.2~~~ Aaa+ Aaa Aal Aa2 Aa3 Al A2 A3 Baal <Baal Moody's Rating *All Statistics shown on the page are dependent on the securities in the portfolio being recognized (by their Cusip) and priced. In this case 99% offhe secunties in the portfolio (by market value) were recognized and priced. Orange County Sanitation District 16 LONGTERM OPERATING FUND PORTFOLIO CHARACTERISTICS DETAIL MARCH 31, 2000 Weighted Average Portfolio Characteristics Total Fund, By Asset Class and By Sector Ending Percent Markel of Effective Effective ~ecto[ Value Portfolio ~ounon Maturi!}'. Total Fund $382,029,618 100.0% 6.37 6.81 Asset Backed $40,423,495 10.6% 6.57 26.50 A~eocies $44,641,920 11.7% 6.07 4.14 C Os $8,811,09 1 2.3% 6.33 8.66 $83,188,373 21.8% 6.40 3.54 Corporrues Mo11gages $22 391,471 5.9% 6.61 14.43 $101'.173,515 Treasunes Total Fixed-Income $300,629,864 Cash Equivalents $81,399,753 lssuerName l11sut Name United SIBtes Tteus Nts Nt 6.50% 10/1512006 Us Ti'easuryNotes 5.625 9130/01 Commit To Pur Gnnrn Sf Mtg 6,500% 04/15/2030 United States Treas Nts Nt 3.375% 111512007 Federal Natl Mtg Assn Medi Preassign 00788 26.5% 6.58 78.7% 6.45 21.3% 6.09 5 Largest Holdings Ending Market Sector Treasuries Treasuries Asset Baoked Treasuries Agencies Value PiHto:~~ $20.277,080 SIS,59}809 s 14,96. ,9i0 6.24 8.59 0.25 Percent or Portfolio 6.3% 6.1% 5.3% 4.9% 3.9% 5 Lowest Rated Holdings (Moody's Rating) Issuer Nome. INSuc N11m11 Long Jsland Ltg Co Deb 8,20% 311512023 Cnuntrywide J-rome l.oan-Glob6.SSO 6115104 Sears Roebuck Accep Tr#OO Min 6.54% 2!2012003 Sears Roebuck Acccp Corp M Tranche fl Tr 0()193 Dtd Lehman Brothers Hldgs Inc Fltg Rt 121l2/2002 Dd Stcior Corporates Corpomtcs Corporates Corporntes Corporates Ending Market Value $1.951,109 $2,46?,373 $1,99:i,309 $2~58.365 $5,028,Sl I Percent of Portfolio 0.5% 0.6% 0.5% 0.8% 1.3% 5 Longest Duration Holdings Ending Percent Market of rssucr ~ymc bsucNumc Sector Value rortfulio Federal Home Ln M~ Corp M Ser 1620 Cl 1620-Zfs G CM Os 51.060.915 0.5% United Stales Treas ts Dtd 00862 Treasuries Sl.031.240 0.3% Lon.g lshmd ~Co Deb 8.20% 3115/2023 Corporiltes $1,951,109 0.5% Federal Natl I!!. Assn 6.625% 09/15/2009 Dd 0 Agencies S2,02S,795 0.5% Commit To Pur tinmo Sf Mtg 6.500% 04/1512030 Asset Backed $20,277,080 5.3% 5 Holdings with Highest Effect Yield Ending Percent Market or lsljuer Name Issue Name Sector V!!!Ue Portfolio Long lsland L<g Co Deb 8.20% 3/1512023 Corpomtes $1,951,109 0.5% Grc}'stone Sveng Corp Fha II ~ 430% 0610112003 Dd 0 Mort&ages $1,310,346 0.3% Commit To Pur Gnma Sf Mtg .000% <Wl 512030 Asset acked $2~22,820 0.5% Fed Homo Ln Mt~ 1178-60 Fhl Mo11gages 33,940 0.1% Bear Steams Cos oc Shelf 6.750% 4115103 Corpora1es $2,019,150 0.5% Yield 6.44 7.42 6.86 7.23 6.64 7.34 5.73 6.54 6.o9 Effective Y.ield 6.33 6.49 7.45 4.00 6.74 Effective Yil'ld 8.38 7,67 7.62 7.62 6.91 Effective \'icld 7.64 4.00 8.38 7.16 7.45 Effective Yield 8.38 8.01 7.86 7.85 7.74 OA OA Duration Co!]v~xitv Qualib'. 2.42 0.07 5.24 0.37 1.93 (0.12) 4,39 O.G7 1.20 0.02 2.98 0.08 3.97 0.14 3.01 0.09 0.25 o.oo OA OA Duration Conve:<itv 5.11 0.33 1.41 O.G3 6.52 0.03 5.95 0.00 1.22 0.02 OA OA Durution Convexih• 7.51 (0.29) 3,53 0.15 2.50 0 00 204 0.00 1.79 0.01 OA OA l>uration Convcxitv 9.24 (0.02) 7.91 0.01 7.51 (0.29) 6.87 0.60 6.52 0.03 OA OA Duration Convexitv 7.51 (0.29) 2.77 0.61 4.11 e.76~ 2.05 0.00 2.62 0.09 Aal Aaa Aaa+ Aaa+ Al Aaa+ Aaa+ Aal Aaa Otu1!1ty Aaa+ Aaa+ NIA Aaa+ Aaa+ QualiN Baa3 A3 A3 A3 A3 Qualitv Aaa+ Aaa+ Baa3 Aaa+ NIA Qu!!li!)'. Baa3 NIA NIA Aaa+ A2 * AH Statistics shown on the page are dependent on the securities in the portfolio being recognized (by their Cusip) and priced. In this case 99% of the securities in the portfolio (by market value) were recognized and priced. Orange County Sanitation District II 17 FAHR COMMITTEE Meeting Date To Bd. of Dir. 05/10/00 05/24/00 AGENDA REPORT Item Number Item Number FAHR 00-32 Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Steve Kozak, Financial Manager SUBJECT: TREASURER'S REPORT FOR THE MONTH OF APRIL 2000 GENERAL MANAGER'S RECOMMENDATION Receive and file Treasurer's Report for the month of April 2000. 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 colu mn of the attached PIMCO Monthly Report for the "Liquid Operating Monies" and for the "Long-Term Operating Monies" portfolios. 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. IZI Not applicable (information item) llradon\doto1\wp.dtalfinl210\cmnc\FAHR\Fohr2000\Moy\Trcosurc~:; Report· Moy.doc Revised: 8/20198 Page 1 ADDITIONAL INFORMATION Schedules are attached summarizing the detail for both the short-term and long-term investment portfolios for the reporting period. In addition, a consolidated report of posted investment portfolio transactions for the month is attached. The attached yield analysis report is presented as a monitoring and reporting enhancement. In this report, yield calculations based on book values and market values are shown for individual holdings, as well as for each portfolio. Mellon Trust, the District's custodian bank, is the source for these reports. Transactions that were pending settlement at month end may not be reflected. These reports accurately reflect all District investments and are in compliance with California Government Code Section 53646 and the District's Investment Policy. Sufficient liquidity and anticipated revenues are available to meet budgeted expenditures for the next six months. The table below details the book balances of the District's funds at month-end. A graphical representation of month-end balances is shown by the attached bar chart. Funds/Accounts State of Calif. LAIF Union Bank Checking Account Union Bank Overnight Repurchase Agreement PlMCO -Short-term Portfolio PIMCO -Long-term Portfolio District 11 GO Bond Fund 921 Debt Service Reserves @Trustees Petty Cash TOTAL ALTERNATIVES None. CEQA FINDINGS None. ATTACHMENTS 1. Monthly Investment Reports 2. Monthly Transaction Report llradonldata11wp.dtallinl210\cranelFAHRIFahr20001May\Treasure(s Report -May.doc Revised: 8120198 Book Balances Estimated April 30, 2000 Yield(%) $ 29,921,844 6.0 462,327 -- 7,883,000 5.4 19,786,778 5.9 349, 150,617 3.9 2,038 5.8 32,157,809 6.7 8,000 - $439,372,413 Page2 Prepared by Finance, 05/09/2000, 8:39 AM Monthly Treasurer's Report District Fund Balances $450,000,000 -..--------------------------------- $400,000,000 -r------------------~~1M----t_.:~~f---~ ~-f $200, 000, 000 -t---;:QQ<)Q(Jf-----l>O<XX)<J---~XX>00-----;:9Q<;AXJl---1'.X>OO<..~----O<:XX:>Of--I $150,000,000 -f--l>O<X><Xl----1~0<Xl----D<X>OO<l---~O<XXJ---~~~---K:>OO<~~ $50, 000, 000 +--l><~><XJ----t><XXXXl----i>OO<XXJ----t~;MJ----1t:XXX)Ol----OO<XX>+------f $0+-----l~~L-----.--.....l..A.J.U5...!S..l!-_ _,..---i.A.Z:...A.i5.../.!.__-..--~~:.a._-.,.----ll~.ius..Jl...-_,...._~~OJ._---! Nov, 99 Dec, 99 Jan, 00 ES PIMCO -Long-term ~ Debt Service Reserves 0 Bank Accts El Dist 11 GO Bond Fund G:\excel.dta\fin\2220\geggi\Finance\monthly treasurers report Feb, 00 Ill PIMCO -Short-tenn CDLAIF II Petty Cash Apr, 00 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PlMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 30 April 2000) Liquid Operating Monies (603) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • PIM CO • Mellon Historical Cost: • PIM CO • Mellon 15.l.2 MODIFIED DURATION Of Portfolio: Of Index: 15.l.3 1% INTEREST RATE CHANGE Dollar Impact (gain/loss) of 1% Change: 15.l.4 REVERSE REPOS % of Portfolio in Reverse Repos: (see attached schedule) 15.1.5 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": 15.1.8 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 • Interest rates at the short-end of the yield curve fell slighllY in April (11\rcc·montb T·Bills down 7 basis points to S.81%), wbile the long-end posted increases. • The Liquid portfolio outperfonned its benchmark by 3 basis points in April. • PIMCO's emphasis on commercial paper slightly enhanced returns. $19,786,609 $19,786,778 $19,813,174 $19,812,946 0.23 0.20 $45,966 0% 63% "AA+" See Note See Note Portfolio 0.50 1.59 5.60 2.04 • NOTE: On March J l ", S&P downgraded Pinvoa Copit:ll Corp. from A· !O BBB+-with a Stable Out.look. due to the p'1rent company"s (Finova Group, Inc.) announcement of a special accounting charge to earnings. A Fi nova Capital Corporate Note. S475.000 par amount, 6.375% coupon, maturing on October 15, 2000, is held in the Liquid Operating Monies portfolio. The note comprises about 2.4%of the nearly $20 million ponfolio. PIMCO 's credit team hus analyzed the Fi nova credit and reported on Aprll 2?lll: "Our credit team is satisfied to a large degree that there is not a systemic problem with the Company's loan book. Our recommendation is thnt we continue: to hold this security." H:L 'IFINANCSI ... IJIEYISED UQMOIJ.RPT Index 0.47 1.38 5.10 1.82 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ending 30 April 2000) Long-Term Operating Monies (203) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • PIM CO • Mellon Historical Cost: • PIM CO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1% INTEREST RATE CHANGE Dollar Impact (gain/loss) of I% Change: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: (see attached schedule) 15.1.S PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW II A II RA TING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return (%) by Period: l Month: 3 Months: 12 Months: Year-to-Date: Commentary $349,252,256 $349, 150,617 $35 1,492,689 $352,445,006 2.10 2.29 $7,402,254 0% 37% "AA+" 0% Yes Portfolio Index 0.27 0.07 1.89 1.57 3.46 2.79 1.90 1.34 • While short-end ylclcls (onc-yenr and less) fell slightly in Mnrch (three-month T-Bilts down 7 basis points to 5.81 %), yields on longer maturities increased (five-year Treasury Notes up 22 basis points to 6.54%), posting the u_s Treasury market's first negative total return of the year. • The Long-Term portfolio outperformed its benchmark by 20 basis points in April. • PIMCO's decision to maintain a below index duration added to portfolio returns as rates rose. • PIMCO's emphasis on mortgage securities added to relative returns as mortgages outperformed all other sectors. H:\. IFINA.NCf.\1101 l/l.£V/SED l·T0400.RPT @ ORANGE COUNTY SANITATION DISTRICT ' PAGE: 1 BASE: USD NET ASSET SECTOR SUMMARY OCSF07511102 30-APR-2000 FINAL LIQUID OPER-PIMCO %OJ< UNREALIZED PORTFOLIO DISTRIBUTION COST MARKET VALUE TOTAL GAIN/LOSS CASH & CASH EQUIVALENTS UNITED STATES COMMERCIAL PAPER -DISCOUNT 2,663,350.50 2,663,350.50 13.33% 0.00 FEDERAL HOME LOAN MORTGAGE -LESS 2,476,569.44 2,476,569.44 12.39% 0.00 FNMA ISSUES -LESS THN l YR 2,672,046.25 2,672,046.25 13.37% 0.00 FED HM LOAN BNK -LESS THN l YR 1,791,768.00 1, 79 J '768.00 8.97% 0.00 MUTUAL FUNDS 1 )3,668.42 113,668.42 0.57% 0.00 TOTAL UNITED STATES 9,717,402.61 9,717,402.61 48.63% 0.00 TOTAL CASH & CASH EQUIVALENTS 9,717,402.61 9,717,402.61 48.63% 0.00 FIXED INCOME SECURITIES UNITED STATES U.S. GOVERNMENTS 3,483,457.03 3,486,315.00 17.45% 2,857.97 U.S. AGENCIES 999,200.00 1,000,000.00 5.00% 800.00 ABS: CAR LOAN 905,913.00 900,738.00 4.51% ·5,175.00 BANKING & FINANCE 1,670,528.50 1,665,982.00 8.34% ·4,546.50 INDUSTRIAL 2,028,520.00 2,013,500.00 10.08% -15,020.00 UTILITY -GAS 495,845.00 496,275.00 2.48% 430.00 UTILITY -TELEPHONE 512,080.00 506,565.00 2.54% ·5,515.00 TOTAL UNITED STATES 10,095,543.53 10,069,375.00 50.39% -26,168.53 TOTAL FIXED INCOME SECURITIES 10,095,543.53 10,069,375.00 50.39% -26,168.53 OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES 195,881.05 195,881.05 0.98% 0.00 TOTAL 195,88 1.05 195,881.05 0.98% 0.00 TOTAL OTHER PORTFOLIO ASSETS 195,88 1.05 195,881.05 0.98% 0.00 NET PORTFOLIO ASSETS 20,008,827.19 19,982,658.66 100.00% -26,168.53 09-May-2000 9:35:14 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 1 BASE: USD NET ASSET SECTOR SUMMARY OCSF07522202 30-APR-2000 FINAL LONG TERM OPER-PIMCO %OF UNREALIZED PORTFOLIO DISTRIBUTION COST MARKET VALUE TOTAL GAIN/LOSS CASH & CASH EQUIVALENTS CASH -1,049,225.94 -1,049,225.94 -0.30% 0.00 RECEIVABLES 10,422,001.91 10,422,001.91 2.96% 0.00 PAYABLES -46,243, 762.42 -46,243, 762.42 -13.12% 0.00 TOTAL -36,870,986.45 -36,870,986.45 -10.46% 0.00 UNITED ST A TES COMMERCIAL PAPER· DISCOUNT 51,769,148.61 51,769,148.61 14.69% 0.00 FNMA ISSUES • LESS THN 1 YR 12,659,241. 77 12,659,241.77 3.59% 0.00 TOTAL UNITED STATES 64,428,390.38 64,428,390.38 18.29% 0.00 TOTAL CASH & CASH EQUIVALENTS 27,557,403.93 27,557,403.93 7.82% o.oo FIXED JNCOME SECURITIES UNITED STATES U.S. GOVERNMENTS 98,637,928. l 7 98,372,486.57 27.92% -265,441.60 U.S. AGENCIES 60,156,088.60 59, 135,849.84 16.78% -1,020,238.76 GNMA SINGLE FAMILY POOLS 35,227,462.98 34,996,869.15 9.93% -230,593.83 GNMA MUL Tl FAMILY POOLS 3,432,290.48 3,391,890.45 0.96% ·40,400.03 FHLMCPOOLS 9, I 00, 791.20 8,899,844.14 2.53% -200,947.06 FHLMC MULTI CLASS 7,857,023.28 7 ,594,089 .62 2.16% -262,933.66 ASSET BACKED SECURITIES 37,234,75 37,176.30 0.01% -58.45 ABS: HOME EQUITY 353,512.05 351,854.08 0.10% -1,657.97 OTHER GOVERNMENT OBLIGATIONS 2,667,485.38 2,665,640.96 0.76% .J,844.42 MUTUAL FUNDS 1,000,000.00 986,720.00 0.28% -13,280.00 BANKING & FINANCE 76,398,260.81 75,896,334.43 21.54% -501,926.38 INDUSTRIAL 7,126,189.00 6,786,344.35 1.93% -339,844.65 UTILITY • ELECTRIC 8,096,080.00 7,883,680.00 2.24% -212,400.00 UTILITY -GAS 7,300,000.00 7,294,233.00 2.07% -5,767.00 UTILITY -TELEPHONE 7,497,255.00 7,300,200.00 2.07% -197,055.00 TOTAL UNITED STATES 324,887,60). 70 321,593,212.89 91.27% -3,294,388.81 TOTAL FIXED INCOME SECURITIES 324,881,601. 70 321,593,212.89 91.27% -3,294,388.81 09-May-2000 9:38:10 Exec11tive Wqrkbench OCSF07522202 LONG TERM OPER-PIMCO PORTFOLIO DISTRIBUTION OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES TOTAL TOTAL OTHER PORTFOLIO ASSETS NET PORTFOLIO ASSETS 09-May-2000 9: 38: 10 ORANGE COUNTY SANITATION DISTRICT NET ASSET SECTOR SUMMARY 30-APR-2000 COST MARKET VALUE 3,205,885.89 3,205,885.89 3,205,885.89 3,205,885.89 3,205,885.89 3,205,885.89 355,650,891.52 352,356,502. 7 t %OF TOTAL 0.91% 0.91% 0.91% 100.00% PAGE: 2 BASE: USD FINAL UNREALIZED GAIN/LOSS 0.00 0.00 0.00 -3,294,388.81 Executive Workbench YLDANAL YIELD ANALYSIS PAGE 1 OCSF07511102 2000/04/30 RUN DATE 05/04/00 DISTRICT: LIQUID OPERATING RUN TIME 13.12.55 === PAR VALOE YTM AT CUR.R:ENT MOODY MARKET TOTAL COST/ \ TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE t TOTAL --------~-----------------~---------------------------------------------- CASH & CASH EQUIVALENTS 113,668.42 DREYFUS TREASURY CASH MGMT .ooo 5.353 AAA 100.000 113, 668. 42 1.16 996085247 AAA ll3,668.42 .57 2,100,000.00 FEDERAL NATL MTG ASSN DISCOUNT 5.892 .ooo P-1 98.947 2,077,894.58 21. 38 313588WSO MAT 05/11/2000 A-l+ 2,077,894.58 10.50 l,800,000.00 FEDERAL HOME LN BK CONS DISC N 5.907 .ooo P-1 99.543 1,791,768.00 18.43 313384XFl MAT 05/24/2000 A-1+ 1,791,768.00 9'.06 900,000.00 GOLDMAN SACHS GROUP L P DISC 6 .008 .ooo P-1 98.699 888,288.25 9.14 38142T.EQ4 05/24/2000 888,288.25 4.49 2,soo,000.00 FEDERAL HOME LN MTG CORP DISC 6.082 .000 P-1 99.063 2,476,569.44 25.48 313396'rJ6 MAT 06/;20/2000 A-H 2,476,569.44 12.52 900,000.00 GENERAL ELEC CAP DISC 6.109 .000 P-1 98. 710 888,392.25 9.14 36959HFU6 06/28/2000 888,392.25 4.49 600,000,00 FEDERAL NATL MTG ASS8 DISC NTS 6 .110 .000 P-1 99.025 594, 151.67 6 .ll 313588Y01 MAT 06/15/99 A-1+ 594, 151. 67 3.00 900,000.00 NATIONAL RURALDISC 6.293 .000 P-1 98.519 886,670.00 9.12 63743CG56 07/05/2000 896,670.00 4.49 -------------------------------------TOTAL CASH & CASH EQUIVALENTS 5.857 .107 9,717,402.61 100.00 9, 717,402.61 49. ll FIXED INCOME SECURITIES l,000,000.00 FE01JRAL HOME LN MTG CORP DEBS .000 4.705 AAA 100.000 999,200.00 9.93 3134A3RT5 FLTG RT 05/18/2000 DD 05/18/99 AAA 1,000,000.00 5.05 3,500,000.00 U S TREASURY NOTES 6 .112 5.145 AAA 99.609 3,493,457.03 34.62 912827402 05.125\ 08/31/2000 DD 08/31/98 AAA 3,486,31 5 .00 17.62 •n 5,, ()OO. 00 ASSOCIATES CORP NORTH AMER 6.296 6.006 AA3 99 .895 474.,273.25 4. 71 046003EL9 6.000% 06/15/2000 A+ 474,501.25 2.40 900,000.00 FORD MTR CR MTN # TR 00538 6.312 7 .014 A2 100.082 905,913.00 8.94 3454Q2Yl<l 7.020% 10/10/2000 DD 10/10/95 A 900,738.00 4.55 YLDANAL YIELD ANALYSIS PAGE 2 0CSF075l.1102 2000/04/30 RUN DATE 05/04/00 DISTRICT: LIQUID OPERATING RUN TIME 13.12.55 =--=::-::-~=-==~===== -=====-::-====== PAR VALUE YTM AT CURR.ENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOX YIELD S-P PRICE MARI<ET VALUE % TOTAL ~----------------------------------------------------------------------------- 400,000.00 LEffMAN BROS HLDGS MTN TR 00252 6.353 6.416 A3 99. 745 400,216.00 3,96 52517PLM1 6.400% 08/30/2000 DD 09/26/97 A 398,980.00 2.02 900,000.00 GENERAL MTRS CORP NTS 6.425 9.498 A2 101. 339 922,860.00 9.05 370442AH8 9.625% 12/01/2000 DD 12/01/90 A 91 2,051,00 4.61 150,000.00 MORGAN J P & CO MTN SR 00043 6 .430 6.146 Al 99.656 149,625 .00 l. 48 61687YBOO 6.125% 10/02/2000 DD 10/02/97 AA 149,484 .00 .76 600,000.00 SEARS ROEBUCK ACCEP CORP NT 6.574 6.502 A3 99.964 599,760.00 5.95 812404AE1 6.500% 06/15/2000 DD 06/13/95 A-599,784.00 3.03 500,000.00 BURLINGTON RES INC NT 6.578 9.593 A3 100. 333 505,900.00 4.98 122014AB9 9.625% 06/15/2000 DD 06/28/90 A-501,665.00 2 .54 500,000.00 GTE CORP DEB 6.669 9.254 BAAl 101.313 512,080.00 5.03 362320AQ6 9.375% 12/01/2000 A 506,565 .00 2. 56 475,000.00 FINOVA CAP CORP 6.820 6.441 BMl 98.969 473,031.25 4.66 318074AF8 6.375% 10/15/2000 DD 10/11/95 BBB+ 470,J,02.75 2.38 175,000.00 CIT GROUP HLDGS M.TN J SR 00010 6.86~ 5.693 Al 98.808 173,383.00 l. 71 12560QAJ<5 5.625% 02/02/2001 DD 02/02/96 A+ 172,914 .oo .87 s oo,000.00 UGI OTILS INC MTN iTR 00006 6.899 6.216 A3 99.255 495,845.00 4.92 90269QAF6 6.170, 03/06/2001 DD 03/06/98 A-496,275.00 2.51 ---------------------------- TOTAL FIXED INCOME SECURITIES 5 .372 6 .019 10,095,543.53 100.00 10,069,375.00 50.90 --------------------- TOTAL 5.533 4.060 19,812,946.14 100.00 19,7 86,777.61 100.00 =--==--=== YLDANAL YIELD ANALYSIS PAGE 3 OCSF07522202 2000/04/30 RUN DATE 05/04/00 DISTRICT: LONG-TERM OPERATING RUN TIME 13.12.55 PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ \ TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARI<ET VALUE ' TOTAL --------------------------------------------------------------------------- CASH & CASH EQUIVALE~TS .oo DREYFUS TREASURY CASH MGMT .ooo .ooo AAA .000 .oo .oo 996085247 AAA .oo .oo 5,900,000.00 FEDERAL NATL MTG ASSN DISCOUNT 5.959 .ooo P-1 99.001 5,841,065.55 9.06 313588"11{7 MATURES 05/04/2000 A-1+ 5,841,065.55 1.51 7,000,000.00 GENERAL ELEC CAP DISC 6.009 .ooo P-1 98.682 6,907,755.56 10.72 369591iEK9 05/19/2000 6,907,755.56 1-. 79 4,400,000.00 FEDERAL NATL MTG ASSN DISC NTS 6.029 .000 P-1 98.858 4,349,737.33 6.75 313588YD1 MAT 06/15/99 A-1+ 4,349,737.33 1.13 2,100,000 .00 EASTMAN KODAK CO DISC 6 .041 .ooo P-1 98.823 2,668,20"9. 75 4.14 27746AEJ4 05/18/2000 2,668,209.75 .69 600,000.00 USAA CAP CORP DISC 6.054 .ooo P-1 98.607 591,642.00 .91 90328AF65 06/06/2000 591,642.00 .lS 21500,000.00 FEDERAL NATL MTG ASSN DISCOUNT 6.056 .ooo P-1 98.738 2,468,438.89 3.83 313589YL3 MAT 06/22/2000 A-1+ 2,469,438.89 .64 5,300,000.00 ALUMINUM CO AMER DISC 6.078 .ooo P-1 99.047 5,249,482.17 8.14 02225AEC2 05/12/2000 5,249,482.17 1.36 4,700,000.00 USAA CAP CORP DISC 6.096 .ooo P-1 99.079 4,656,701.25 7.22 90328A.EF6 05/15/2000 4,656,701.25 1.21 3,300,000.00 PROCTER & GAMBLE DISC 6.086 .ooo P-1 98.913 3,264,130.83 5.06 74271RFE2 06/14/2000 3,264,130.83 .85 7,500,000.00 BECTON DICKU{SON D;rsc 6.087 .ooo P-1 99.062 7 ,429,650.00 11.53 07588RF26 06/02/2000 7,429,650.00 1.92 s,200,000.00 BECTON DICKINSON DISC 6.100 .ooo P-1 99.177 5,1571 179.44 8.00 o7588RENl 05/22/2000 5,157,179.44 1.34 10,400,000.00 liEINZ II J CO DISC 6. 101 .ooo P-1 99.160 10,31-2,611.11 16.00 42307JF62 06/06/2000 10,312,611.11 2.67 400,000.00 MONSANTO CO DISC 6 .157 .ooo l'-1 91L584 394,334.67 .61 61166AF'El4 06/14/2000 394,334.67 .10 YLD~AL YIELD ANALYSIS PAGE 4 OCSF'0752;1.202 2000/04/30 RUN DATE 05/04/00 DISTRICT: LONG-TERM OPERATING RUN TIME 13.12.55 =--=-- PAR VALUE YTM AT CURRENT MOODY MARI<BT TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIBLD S-P PRICE MA!U<ET VALUE ~ TOTAL -------------·---------------------------------~------------------------ 5,200,000.00 GMAC DISC 6.261 .ooo P-1 98.797 5,137 ,451.83 7.97 3 7 0 4 2D.FU2 06/28/2000 s, 137 ,451.83 1. 33 --------------__. _______________ ---------TOTAL CASH & CASH EQUIVALENTS 6.024 .ooo 64,428,390.38 l.00.00 64,428,390 .38 16.69 FIXED INCOME SECURITIES 2,000,000.00 BANKERS TR NY CORP GLOBAL NT .ooo 5. 776 Al 100.339 1,992,800.00 .62 06636SDW4 FLTG RT 05/11/2003 DD 05/11/98 A-2,006,780"00 .52 3,500,000.00 CHRYSLER FINL LLC MTN ITR00615 .ooo 6 ,143 Al 100.015 3,498,635.00 1.08 17120QE80 FLTG RT 08/08/2002 OD 04/08/98 A+ 3,soo,s2s.oo .91 3,000,000.00 CONSOLIDATED EDISON N Y DEBS .000 6 .179 Al. 100.043 2,994,300.00 .93 209lllCU5 FLTG RT 06/15/2002 DD 06/20/97 A+ 3,001,290.00 .78 330,573.95 FHLMC GROUP 11'78-6064 .ooo 6.447 AAA 99.016 322,516.21 .10 31348SWZ3 6.384% 01/01/2028 DD l.2/01/.97 AAA 327, 321.10 .08 2,000,000.00 FORD MTR CR CO GLOBAL NTS .ooo 6.242 A2 99.703 l,992,580.00 .62 345397RV7 FLTG RT 02/13/2003 DD 02/13/98 A 1,994,060.00 .52 2,000,000.00 FORD MTR CR CO TERM ENHANCED .ooo 6.215 A2 99.921 1,998,613.60 .62 345397SC8 FLTG RT 08/27/2006 OD 08/27/98 A 1,998,420.00 .52 3,000,000.00 FORD MTR CR CO GLOBAL LANDMARK .000 6.362 A.2 .9.9.812 3,000,000.00 .93 345397SR5 PLTG RT 03/17/2003 DD 03/16/00 A 2,994,360.00 .78 3,000,000.00 GMAC MTN FLTG RT .ooo 6 .527 A2 100.312 3,010,830.00 .93 37042WVR9 12/17 /2001 DD 12/15/98 It.. 3,009,360.00 .78 3,000,000.00 GENERAL MXRS ACCEP ATR 00562 .ooo 6 .210 A2 99.828 2,996,430.00 ,93 37042WZKO .F'LTG RT 02/14/2003 DD 02/14/00 A 2,994,840.00 .78 3,950,000.00 GMAC NTS FLTG RT .000 S.560 A2 100,132 3,918,768.50 1. 22 370425QV5 08/18/2003 DO 08/17/98 A 3,955,214.00 1.02 2,702,019.71 GNMA GTD REMIC TR 2000-9 FH .ooo 6.407 AAA 98.642 2,702,019.71 .82 3837H4NX9 VAR RT 02/16/2030 AAA 2,665,326.28 .69 2,000,000.00 HELLER FINANCIAL I.NC NTS .ooo 6.487 A3 100.314 2,000,000.00 .62 423328BI<8 FLTG RT 06/25/2001 DD 06/25/99 A-2,006,280.00 .52 YLDANAL YIBLD ANALYSIS PAGE 5 OCSF07522202 2000/04/30 RUN DATE 05/04/00 DISTRICT: LONG-TERM OPERATING RUN TIME 13.12 .55 -------------------=================---=--------= PAR VALUE YTM AT CURRENT MOODY MAR.KET TOTAL COST/ \ TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE \ TOTAL -----------------------------------------------------------______ ..,._ --------------~------ 3,000,000.00 HELLER FINL MTN fTR 00246 .000 6.338 A3 99.406 3,000,000.00 .92 42333HLF7 FLTG RT 04/28/2003 DD 04/27/99 A-2,982,180.00 .77 4,000,000.00 HOUSEHOLD FIN CO MTN .ooo 6.398 A2 100.663 4,000,000.00 1. 25 44181KZA5 FLTG RT 06/24/2003 DD 06/24/98 A 4,026,520.00 1.04 1,000,000.00 HOUSEHOLD FIN MTN SR #00570 .ooo 5. 722 A2 100.375 999,188.90 . 3 1 44181KZT4 FLTG RT 08/01/2001 OD 09/04/98 A 1,003,750.00 .26 2,300,000.00 LEHMAN BROS HLDGS MTN TR 00333 .ooo 7 .127 A3 100.879 2,322,379.00 ·• 72 52517PPW5 FLTG RT 04/01/2002 DD 03/29/99 A 2,320,217.00 .60 5,000,000.00 LEHMAN BROS HLDGS MTN .ooo 6.666 A3 100.109 5,000,000.00 1.55 52517PQQ7 FLTG RT 12/12/2002 DD 12107 /99 A 5,005,450.00 1. 30 1,700,000.00 MORGAN STANLEY MTN fTR 00311 .000 6 .166 AA3 99.984 1, 699 , 51.7. 20 .52 6l 745ENY3 FLTG RT 01/28/2002 DO 01/27/00 A+ 1,699,728.00 .44 1,000,000.00 OLD KENT BK MTN SB 00001 .ooo 7.084 100.000 1,000,000.00 2.17 67982XAA6 VAR RT 11/01/2005 DD 04/28/00 1 ,000,000.00 1.81 7,300,000.00 ONEOK INC NEW NT .ooo 6.966 :u 99.921 7 ,300,000.00 2.26 682680A.J2 FLTG RT 04/24/2002 DD 04/24/00 A 7,294,233.00 1.89 2,673,228.65 STUDENT LN MKTG ASSN 98-2 Al .ooo 6.006 AAA 99.716 2,667,485.38 .82 78442GBA3 FLTG RT 04/25/2007 DO 06/18/98 AAA 2,665,640.96 .69 8,686,998.00 US TREASURY INFLATION INDEX NT 3.702 3 .632 AAA 99.797 9,657,578.19 2.69 9128273A8 3.625% 07/15/2002 DD 07 /15/97 AAA 9,669,363.39 2.25 24,6301470.PO US TREASURY INFLATION INDEX NT 3 .929 3.503 AAA 96 .344 23,783,646.16 7. 37 9128272M3 3.375% 01/15/2007 OD 01/15/97 AAA 23,729,980.02 6.15 l,009,450.00 US TRE!.SURY INFLATION INDEX NT 4.337 .4 .162 AAA 102.125 1,001,370.00 .32 9128275W8 4.250%001/15/2010 DD 01/15/00 AAA 1,029,979.56 .27 1,850,719.40 SALOMON SMITH BARNEY HLDGS INF 4.696 3.709 AA3 98.405 1,816,818.61 .56 79549BBG1 3,650% 02/14/2002 DD 02 /14/97 A 1,821,200.43 .47 4,000,000.00 MORGAN STANLEY MTN f TR 00299 5.170 5.467 AA3 99.875 3,997,788 .00 1.24 61745ENL1 FLTG RT 04/15/2002 DD 04/15/99 A+ 3,995,000.00 1.03 2,100,000.00 U S TREASURY NOTES 5.294 6 .405 MA 99.531 2 ,167 ,321.15 .64 912827Z54 06.375% 09 /30/2001 DD 09/30/96 AAA 2,090,151.00 .54 YLDANAL YlELD ANALYSIS PAGE 6 OCSF07522202 2000/04/30 RUN DATE 05/04/00 DISTRICT: LONG-TERM OPERATING RUN TIME n.12.55 --------==:e:=::::..... -====~-=-- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY IO SECURITY DESCRIPTION BOOK YIELD S-P PRICE MAR1a:T VALUE \ TOTAL -----------------------------------------------------------------------------·---------------- 1,500,000 .00 ASSOCIATES CORP N A SR NTS 5.650 6.643 AA3 97.843 1,543,215.00 .45 046003HY8 6.500\ 07/15/2002 DD 07/11/97 A+ 1,467,645.00 .38 i,000,000.00 BELLER FINANCIAL INC NTS 5.760 5.895 A3 97.548 999,730.00 .30 42333BKJO 5.750% 09/25/2001 DO 09/25/98 A-975,480.00 .25 2.,005,000.00 SEARS ROEBUCK ACCEP CORP MTN 5.804 6.764 A3 96.687 2,060,739.00 .60 81240QGW6 6,540% 02/20/2003 DD 02/20/97 A-1,938,574.35 .so 23,430,000.00 U S TREASURY NOTES 5.807 5 . 707 AAA 98.562 23,351,289.85 7 .. 18 !1128275Ql 05.625% 09/30/2001 DD 09/30/99 AAA 23,093,076.60 5 .98 s,000,000.00 U S TREASURY NOTES S.811 6.299 AAA 99.219 5,086,402.25 1.54 9128272L5 06.250% 02/28/2002 l>D 02/28/97 AAA 4,960,950,00 l. 29 3,000,000.00 SEARS ROEBUCK ACCEP CORP MT?t 5.849 6.803 A3 97 .453 3,073,170.00 .90 81240QJJU 6.630% 07/09/2002 DO 07/09/97 A-2,9'23,590.00 .76 421,531.80 FHLMC MULTICL MTG P/C 1574 E 5.912 5,933 99.437 420,939.0l .13 3133T02DS 5.900\ 06/15/2017 419,158.58 .11 15,ooo,ooo.oo FEDERAL NATL MTG ASSN MTN s.91n 5.908 AAA 98.516 14,955,300.00 4,59 31364G2VO 5.820% 07/19/2001 DD 07/19/99 AAA 14,777,400.00 3.83 21 500,000.00 MERRILL LYNCH NOTES 5.995 6.463 AA3 98.637 2,526,725.00 .76 5901BSXP4 6.375% 10/01/2001 DD 10/03/97 !>,A-2,465,925.00 .64 7,500,000.00 BELLSOUTH TELECOMMUNICATIONS 6.010 6.164 AA2 97 .336 7,497,255.00 2.21 079867AX5 6 .000% 06/15/2002 DD 06/15/98 AAA 7,300,200.00 1. 89 12,soo,000.00 FEDERAL SOME LN MTG CORP DEBS 6.062 6.061 AAA 99.000 12,485,625.00 3 .84 3134A3ZM1 6.000% 07/20/2001 DO 07/20/99 AAA 12,375,000.00 3.21 2,000,000.00 BJ>.NKBOSTON CORP SR NTS 6 .133 6.286 A2 97.436 1,999,600.00 .60 06605TAL6 6.125\ 03/15/2002 DD 03/12/99 A 1,948,720.00 .so 37,234.76 FIFTH TRlRD BK AUTO TR 96A CLA 6.200 6. 210 AAA 9!J. 84 3 37,234.75 .01 31677EAA4 6 .200\ 09/01/2001 DD 03/15/96 37,176,30 .01 1,000,000.00 POPULAR INC MTN f TR 00004 6.201 6.283 A3 98.672 1,000,000.00 .30 733l7PAD1 6.200% 04/30/2001 DD 04/21/99 BBB+ 986,720.00 .26 2,443,558.75 FHLMC MULTICLASS CTF 2146 QT 6.207 6,202 AAA 96.750 2,400,414.67 .73 3133TKKU3 6.000% 11/15/2011 AAA 2,364,143.09 .61 YLDANAL YIELD ANALYSIS PAGE 7 OCSF07522202 2000/04/30 RUN DATE 05/04/00 DISTRICT: LONG-TERM OPERATING RUN TIME 13 .12. 55 --======----====-====-=-=r~ PAR VALUE YTM AT CURRENT MOODY MA.RJ<ET TOTAL COST/ \ TYPE SECURITY ID SECURITY DESCRIPTION aoo1< YIELD S-P PRICE MARKET VALUE ll TOTAL -----------------------------------·------------------------------------------________ ... 353, 512. 05 GREEN TREE CORP 99-D CL A-1 6.290 6.320 AAA 99.531 353,512.05 .10 3935052¥7 6.290\ 10/15/2013 DD 08/26/99 AAA 351,854.08 .09 41 500,000.00 FEDERAL NATL MTG ASSN MTN 6.291 6.328 AAA 98.453 4,488,705.00 l.37 31364CXV5 6.230\ 03/01/2002 DD 03/03/97 AAA 4,430,385.00 1.15 3,031,466.18 FHLMC MULTICLASS CTF E3 A 6.316 6.339 AAA 96.192 3,034,781.60 .90 3133TCE95 VAR RT 08/15/2032 AAA 2,916,027 .95 .76 2,000,000.00 BEAR STEARNS COS INC 6.330 6.929 A2 97. 411 2,031,960.00 .60 073902AH1 6.750\ 04/15/2003 A 1,948,220.00 .so 6,250,000.00 COMMIT TO PUR GNMA I SF 6. 371 6. 608 AAA 90.797 S ,755,859.38 1. 76 01N060650 6.000, 05/15/2029 AAA 5 1674 1 8}2.SO l. 4 7 2,000,000.00 FRL.MC MULTICIJ\SS CTF Tll A6 6. 4.96 6.861 AAA 94.738 2,000,000.00 .58 3133TDPV2 6.500\ 09/25/2018 AAA 1,894,760.00 .49 111250,000.00 COMMIT TO PUR GNMA II ARMS 6.501 6.559 AAA 99.094 11, 137, 109. 38 3.46 l6H062651 6.500\ 05/20/2030 AAA 11,148,075.00 2.89 2,422,538.43 PHLMC MULTICLASS CTF SER 1620Z 6.523 7.291 AAA 82.295 2,266,398.49 .61 3133Tl7A4 6.000% 11/15/2023 DO 11/01/93 AAA 1,993,619.04 .52 21,400,000.00 U S TREASURY NO'U!S 6 .607 6 .514 AAA 99.781 21,276,109.37 6.63 912827Z62 06.500\ 10/15/2006 OD 10/15/96 AAA 21,353,134.00 5.53 s,000,000.00 SALOMON SB ULDGS MTN 6.625 6.625 M3 100.000 s,000,000.00 l. 55 79548EEE8 PLTG RT 04/28/2003 DD 04/28/00 s,000,000.00 1.30 B,643,224.62 FHLMC GROUP #GS-0476 6.628 7.058 AAA .99.182 8,778,274.99 2.66 3128DOQ55 7.000\ 02/01/2003 DD 02/01/98 AAA a,572,523.04 2 .22 1,931,053.73 GNMA II POOL #08008BM 6.705 6.329 AAA 100.734 1,973,295.53 .60 36225CC20 VAR RT 06/20/2027 DO 06/01/97 AAA 1,945,227.66 .so io,soo,000.00 FEDERAL ROME LN MTG CORP DEas 6 . 711 6.556 AAA 96.094 10,323,075.00 3.13 3134A3TCO 6.300\ 06/01/2004 OD 06/01/99 AAA 10,089,870.00 2.61 2,000,000.00 MARSH & MC.LENNAN COS INC SR NT 6. 717 6.886 A2 96 .209 1,992,280.00 .59 571748AB8 6.625\ 06/15/2004 OD 06/14/99 AA-i,924,180.00 .so 3,000,000.00 FORD MTR CR CO GLOBAL LANDMAIU< 6 . 739 6.967 A2 96 .172 2,995,080.00 .89 345397SJ3 6.700% 07/16/2004 DO 07/16/99 A+ 2,885,160.00 .75 YLDANAL YIELD ANALYSIS PAGE 8 OCSF07522202 2000/04/30 RUN DATE 05/04/00 DISTRICT: LONG-TERM OPERATING RUN TIME 13.12 .SS ============= -====-=:======-========.:======-=·====-===-=-========-~=--=====-==--=--=== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY :ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE Hll.RKET V.IU.UE % TOTAL ---------------------------------------------------------------------------------- 900,000,00 FEDERAL HOME LN BK CONS BOS 6. 777 6.789 AAA 99.422 899,550.00 .27 3133MAQJ1 6.750% 02/01/2002 DD 02/01/00 AAA 894,798.00 .23 2,500,000.00 COUNTRYWIDE HOME LNS INC NT 6.866 7.165 A3 95.604 2. 4 9 8' 4.00. 00 .74 22237UAB8 6.850% 06/15/2004 DD 06/24/99 A 2,390,100.00 .62 n,soo,000.00 COMMIT TO PUR GNMA SF MTG 6.985 6.937 AAA 93. 703 20,367,968.75 6.26 01N062656 6.500% 05/15/2030 AAA 20,146,171.89 5.22 1,435,224.05 GNMA II POOL f0090023 6.992 7 .069 AAA 100.797 1,459,994.95 ,44 36225CAZ9 7.125% 12/20/2026 OD 12/01/96 AAA 1,446,662.79 • 37 2,000,000.00 GNMA GTD REMIC TR 2000-2 PA 7.014 7. 075 AAA 98 .944 1,996,875.00 .61 3837H3C70 7.000% 12/20/2022 AAA 1,.978,880.00 .51 2,100,000.00 FEDERAL NATL MTG ASSN DEBS 7 .113 6.945 AAA 95.391 2,030,133.00 .62 31359MEY5 6.625% 09/15/2009 OD 09/01/99 AAA 2,003,211.00 .52 2,000,000.00 COMMIT TO PUR GNMA SF MTG 7. 262 7 .984 AAA 100.203 2 ,023,125.00 .62 01N080658 8.000% 05/15/2030 AAA 2,004,060.00 .52 2,000,000.00 LONG lSLAND LTG CO D~B 7.512 8.635 BAA3 94.961 2,1s1,2s o.oo .59 542671CT7 8 .2QO% 03/15/2023 DD 03/28/93 A-1,899,220.00 .49 1,317,791.05 GREYSTONE SVCNG CORP FRA t95-7 7.564 7 .540 AAA 98.539 1,298,538.95 ,40 39810fAE4 7.430\ 06(01/2003 DD 02/29/0Q AAA 1,299,538.95 .34 1,000,000.00 FORD MOTOR CR CO NT 7.582 7.062 A2 .95.576 965,170.00 .29 345397GV9 6.750% 05/15/2005 A 955,760.00 .25 975,188.95 WMP(HUNTOON PAIGE f000-11150 7.684 7 .667 AAA 97,828 954,009.07 .29 302 99BGE3 7.500% 12/01/2030 DD 10(21/99 AAA 954,009.07 ,25 3,000,000.00 PACIFICORP SECD MTN lTR 00115 7.709 7.341 A2 99.439 2,950,530.00 .92 69512EEU5 7 .300% 10/22/2004 DD 10/22/92 A 2,983,170.00 . 77 9,600,000.00 U S TREASURY BONDS 7 .966 S.925 AAA 140. 062 13, 314, 211. 20 4.18 912810DL9 12.500% 08/15/2014 DD 08/15/84 AAA 13,445,952.00 3.48 1,600,000.00 ALLSTATE CORP SR NT 7.967 8.153 Al 96.590 1,594,032.00 .48 02000lll.S 7.875\ OS/01/2005 DD 05/01/00 A+ 1 1 545,440.00 .40 288,590 .00 GNMA POOL f0479288 7.968 7 .971 AAA 100.359 289,627.12 .09 36209RND1 8.000% 04/15/2030 DD 04/01/00 AAA 289,627.12 .08 YLDANAL YIELD ANALYSIS PAGE 9 OCSF07522202 2000/04/30 RUN DATE 05/04/00 DISTRICT: LONG-TERM OPERATING RUN TIME 13.12.55 PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION "BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ---------------------------~~-----------------------------------~-_ .. ____ 338,310.00 GNMA POOL 10479289 7.968 7 .671 AAA 100.359 339,525.80 .10 36209RNE9 8.000% 04/15/2030 DD 04/01/00 AAA 339,525.80 .09 335,990.00 GNMA POOL *0522128 7.968 7 .,71 AAA 100.359 337,197.46 .10 36211TA54 8.000% 04/15/2030 DD 04/01/00 AAA 337,197.46 .09 404,685.00 GNMA POOL #0524743 7.968 7.985 AAA 100.187 406,139.34 .12 36211V5CO 8.000% 04/15/2030 OD 04/01/00 AAA 405,441.76 .11 325,600.00 GNMA l'OOL #0528728 7 .968 7 .971 AAA 100.359 326,770.13 .10 36212BLB4 8.000% 04/15/2030 DD 04/01/00 AAA 326,770.13 .OS ------------------~--------------- TOTAL PIXED INCOME SECURITIES 3.807 5.954 324 I 887 I 601. 70 100.00 321,593,212.89 83.33 ------------------------------------TOTAL 3.887 5.739 389,315,992.08 100.00 386,021,603.27 100.00 ===:== OCSGOOO 10000 OCSD-CONSOL/DATED SHARES/PAR SECURITY ID TRANSCODE ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL Ol-APR-2000 -30-APR-2000 TRANSACTION DESCRIPTION! BROKER TRADE DATE/ SETTLDATE/ COMPLDATE RECEIPTS AND DISBURSEMENT TRANSACTIONS OTHER ADMINISTRA TJVE EXPENSES PURCHASES 0.00 NA9123459 cw 0.00 NA9123459 cw CASH & CASl:I EQUJV A LENTS 5,200,000.00 07588RENI B 5,200,000.00 07588RENI FC 247.13 996085247 B 09-May-2000 8:53:59 LIQUID OPER-PIMCO MAR WIRE FEES LONG TERM OPER·PlMCO MAR WIRE FEES LONG TERM OPER-PIMCO BECTON DICKINSON DISC 05/22/2000 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO BECTON DICKrNSON DISC 05/22/2000 GOLDMAN SACHS & CO, NY LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 05·Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 04-Apr-2000 04-Apr-2000 PAGE: 1 AMOUNT/ COST/ GAIN/LOSS -5.95 0.00 0.00 -11.05 0.00 0.00 -5, 157, 179.44 5,157,179.44 0.00 -5,157,179.44 0.00 0.00 -247.13 247.13 0.00 Executive Workbench OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY JD TRANSCODE 247.13 996085247 FC 800,000.00 99368A600 B 800,000.00 99368A600 FC 8,209.50 996085247 B 8,209.50 996085247 FC 227,673.78 996085247 B 227,673 .78 996085247 FC 09-May-2000 8:53:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 TRANSACTION DESCRJPTION/ BROKER LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO LEHMAN BROTHERS REPO -05.950% 04/05/2000 DD 04/04/ LEHMAN BROS INC, NEW YORK LONG TERM OPER-PIMCO LEHMANBROTHERSREPO 05.950% 04/05/2000 DD 04/04/ LEHMAN BROS rNC, NEW YORK LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PTMCO DREYFUS TREASURY CASH MGMT TRADE DATE/ SETTLDATE/ COMPLDATE ~ 04-Apr-2000 04-Apr-2000 04-Apr-2000 04-Apr-2000 04-Apr-2000 04-Apr-2000 04-Apr-2000 04-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 07-Apr-2000 07-Apr-2000 07-Apr-2000 07-Apr-2000 07-Apr-2000 PAGE: 2 AMOUNT/ COST/ GAIN/LOSS -247.13 0.00 0.00 -800,000.00 800,000.00 0.00 -800,000.00 0.00 0.00 -8,209.50 8,209.50 0.00 -8,209.50 0.00 0.00 -227,673.78 227,673.78 0.00 -227,673. 78 0.00 0.00 &ecutive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 3 PORTFOLIO DETAIL OCSGOOO 10000 01-APR-2000-30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTL DATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 4,400,000.00 FEDERAL NA TL MTG ASSN DISC N 07-Apr-2000 -4,349, 737.33 313588YDI MAT 06/15/99 07-Apr-2000 4,349,737.33 B CREDIT SUISSE FIRST BOSTON C 0.00 LONG TERM OPER-PIMCO 4,400,000.00 FEDERAL NATL MTG ASSN DISC N 07-Apr-2000 -4,349, 737.33 313588YDI MAT 06/ I S/99 07-Apr-2000 0.00 FC CREDIT SUISSE FIRST BOSTON C 07-Apr-2000 0.00 LONG TERM OPER-PIMCO 2,500,000.00 FEDERAL NATL MTG ASSN DlSCOU 07-Apr-2000 -2,468,438.89 313588YL3 MAT 06122/2000 07-Apr-2000 2,468,438.89 B HSBC SECS INC, NEW YORK 0.00 LONG TERM OPER-PIMCO 2,500,000.00 FBDERAL NATL MTG ASSN DISCOU 07-Apr-2000 -2,468,438.89 313588YL3 MAT 0612212000 07-Apr-2000 0.00 FC HSBC SECS INC, NEW YORK 07-Apr-2000 0.00 LONG TERM OPER-PlMCO 7,500,000.00 BECTON DICKINSON DISC 07-Apr-2000 -7,429,650.00 07588RF26 06/02/2000 07-Apr-2000 7,429,650.00 B GOLDMAN SACHS & CO, NY 0.00 LONG TERM OPER-PIMCO 7,500,000.00 BECTON DICKINSON DISC 07-Apr-2000 • 7,429,650.00 07588RF26 06/02/2000 07-Apr-2000 0.00 FC GOLDMAN SACHS & CO, NY 07-Apr-2000 0.00 LIQUID OPER·PIMCO 44,920.00 DREYFUS TREASURY CASH MGMT 10-Apr-2000 -44,920.00 996085247 10-Apr-2000 44,920,00 B 0.00 09-May-2000 8: 53 59 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT 11 PAGE: 4 PORTFOLIO DETAIL OCSGOOO I 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLJDATED SHARES/PAR TRA DE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANS CODE BROKER COMPL DATE GAIN/LOSS LIQUID OPER-PIMCO 44,920.00 DREYFUS TREASURY CASH MGMT 10-Apr-2000 -44,920.00 996085247 I O-Apr-2000 0.00 FC I 0-Apr-2000 0.00 LIQUID OPER-PIMCO 900,000.00 NATIONAL RURALDISC 10-Apr-2000 -886,670.00 63743CG56 07/05/2000 1 O-Apr-2000 886,670.00 B GOLDMAN SACHS & CO, NY 0.00 LIQUID OPER-PIMCO 900,000.00 NATIONAL RURALDISC I 0-Apr-2000 -886,670.00 63743CG56 07/05/2000 10-Apr-2000 0.00 FC GOLDMAN SACHS & CO, NY I 0-Apr-2000 0.00 LONG TERM OPER-PIMCO 3,300,000.00 PROCTER & GAMBLE DISC I O-Apr-2000 -3,264, 130.83 74271RFE2 06/14/2000 lO-Apr-2000 3,264,130.83 B GOLDMAN SACHS & CO, NY o.oo LONG TERM OPER-PIMCO 3,300,000.00 PROCTER & GAMBLE DISC 10-Apr-2000 -3,264, 130.83 74271RFE2 06/ 14/2000 10-Apr-2000 0.00 FC GOLDMAN SACHS & CO, NY 10-Apr-2000 0.00 LIQUID OPER-PIMCO 11,607.75 DREYFUS TREASURY CASH MGMT I 2·Apr-2000 ·11,607.75 996085247 12-Apr-2000 11,607.75 B 0.00 LIQUID OPER-PIMCO 11,607.75 DREYFUS TREASURY CASH MGMT 12-Apr-2000 -11,607.75 996085247 12-Apr-2000 0.00 FC 12-Apr-2000 0.00 09-May-2000 8:53:59 Executive Workbench OCSGOOOJ 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 900,000.00 36959HFU6 B 900,000.00 36959HFU6 FC 12,407.72 996085247 B 12,407.72 996085247 FC 1,807.60 996085247 B 1,807.60 996085247 FC 15,140.63 996085247 B 09-May-2000 8:53:59 II ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 TRANSACTION DESCRIPTION/ BROKER LIQUID OPER-PIMCO GENERAL ELEC CAP DISC 06/28/2000 GENERAL ELECTRIC CAPTIAL COR LIQUID OPER-PIMCO GENERAL ELEC CAP DISC 06/28/2000 GENERAL ELECTRIC CAPTIAL COR LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER·PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT TRADE DATE/ SETTLDATE/ COMPLDATE 12-Apr-2000 12-Apr-2000 12-Apr-2000 12-Apr-2000 12-Apr-2000 13-Apr-2000 13-Apr-2000 I 3-Apr-2000 13-Apr-2000 13-Apr-2000 I 4-Apr-2000 14-Apr-2000 14-Apr-2000 14-Apr-2000 14-Apr-2000 17-Apr-2000 t 7-Apr-2000 11 PAGE: ' 5 AMOUNT/ COST/ GAIN/LOSS -888,392.25 888,392.25 0.00 -888,392.25 0.00 0.00 -12,407.72 12,407.72 0.00 -12,407.72 0.00 0.00 -1,807.60 1,807.60 0.00 -1,807.60 0.00 0.00 -15,140.63 15,140.63 0.00 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 6 PORTFOLIO DETAIL OCSGOOO 10000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LIQUID OPER-PIMCO 15,140.63 DREYFUS TREASURY CASH MGMT 17-Apr-2000 -15,140.63 996085247 17-Apr-2000 0.00 FC 17-Apr-2000 0.00 LONG TERM OPER-PlMCO 1,181,503.67 DREYFUS TREASURY CASH MGMT I 7-Apr-2000 -1,181,503.67 996085247 17-Apr-2000 I, 181,503.67 B 0.00 LONG TERM OPER-PIMCO 1,181,503.67 DREYFUS TREASURY CASH MGMT 17-Apr-2000 -1, 181,503.67 996085247 l 7-Apr-2000 0.00 FC I 7-Apr-2000 0.00 LONG TERM OPER-PIMCO 7,785.29 BSDT-LATE MONEY DEPOSIT ACCT l 7-Apr-2000 -7,785.29 996087094 17-Apr-2000 7,785.29 B 0.00 LONG TERM OPER-PIMCO l 0,400,000.00 HEINZ HJ CO DISC 17-Apr-2000 -10,312,61Lll 42307JF62 06/06/2000 17-Apr-2000 10,312,6 l l.l l B LEHMAN GOVT SECS INC, NY 0.00 LONG TERM OPER-PIMCO 10,400,000.00 HEINZ HJ co orsc I 7-Apr-2000 -10,312,61 t.J l 42307JF62 0610612000 17-Apr-2000 0.00 PC LEHMAN' GOVT SECS INC, NY 17-Apr-2000 0.00 LONG TERM OPBR-PIMCO 3,700,000.00 GENERAL MTRS CORP msc 17-Apr-2000 -3,655,156.00 37042DFU2 06/2812000 I 7-Apr-2000 3,655,156.00 B GENERAL MOTORS ACCEPTANCE, D 0.00 09-May-2000 8:53:59 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 7 PORTFOLIO DETAIL OCSGOOO 10000 Ol-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPL DATE GAJN/LOSS LONG TERM OPER-PIMCO 3,700,000.00 GENERAL MTRS CORP DISC I 7-Apr-2000 -3,655, 156.00 37042DFU2 06/28/2000 l 7-Apr-2000 0.00 FC GENERAL MOTORS ACCEPTANCE, D l 7-Apr-2000 0.00 LONG TERM OPER-PIMCO 73,806.49 DREYFUS TREASURY CASH MGMT J 8-Apr-2000 -73,806.49 996085247 18-Apr-2000 73,806.49 B 0.00 LONG TERM OPBR-PIMCO 73,806.49 DREYFUS TREASURY CASH MGMT I 8-Apr-2000 -73,806.49 996085247 l 8-Apr-2000 0.00 FC 18-Apr-2000 0.00 LIQUID OPER-PIMCO 600,000.00 FEDERAL NATL MTG ASSN DISC N 18-Apr-2000 -594,151.67 313588YDI MAT 06/15/99 I 8-Apr-2000 594,151.67 B CHASE SECURITIES, NEW YORK 0.00 LIQUID OPER-PIMCO 600,000.00 FEDERAL NATL MTG ASSN DISC N 18-Apr-2000 -594, 151.67 313588YDI MAT 06115199 l 8-Apr-2000 0.00 FC CHASE SECURITIES, NEW YORK 18-Apr-2000 0.00 LONG TERM OPER-PIMCO 1,500,000.00 GENERAL MTRS CORP DISC 19-Apr-2000 -1,482,295.83 37042DFU2 06/28/2000 19-Apr-2000 1,482,295.83 B GENERAL MOTORS ACCEPTANCE CO 0.00 LONG TERM OPBR-PIMCO 1,500,000.00 GENERAL MTRS CORP DISC I 9•Apr•2000 -1,482,295.83 37042DF02 06/28/2000 19-Apr-2000 0.00 FC GENERAL MOTORS ACCEPTANCE CO 19-Apr-2000 0.00 09-May-2000 8:53:59 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 8 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000-30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 11 ,666.41 BSDT-LATE MONEY DEPOSIT ACCT 20-Apr-2000 -11,666.41 996087094 20-Apr-2000 11,666.41 B 0.00 LONG TERM OPER-PIMCO 2, l 00,000.00 FIRST BOSTON CORP REPO 20-Apr-2000 -2,100,000.00 99368P58 l 05. 770% 04/24/2000 DD 04120/ 20-Apr-2000 2, 100,000.00 B CREDlT SUISSE FIRST BOSTON C 0.00 LONG TERM OPER-PIMCO 2, I 00,000.00 FlRST BOSTON CORP REPO 20-Apr-2000 ·2,100,000.00 99368P581 05.770% 04/24/2000 DD 04/20/ 20-Apr-2000 0.00 FC CREDIT SUISSE FIRST BOSTON C 20-Apr-2000 0.00 LIQUID OPER-PIMCO 510.22 DREYFUS TREASURY CASH MGMT 24-Apr-2000 -510.22 996085247 24-Apr-2000 510.22 B 0.00 LIQUID OPER-PIMCO 510.22 DREYFUS TREASURY CASH MGMT 24-Apr-2000 -510.22 996085247 24-Apr-2000 0.00 FC 24-Apr-2000 0.00 LIQUID OPER-PIMCO 3,200,000.00 FEDERAL HOME LN BK CONS DISC 24-Apr-2000 -3, 199,489.78 313384WA3 MAT 04/25/2000 24-Apr-2000 3, 199,489. 78 B MORGAN J P SECS -FIXED INCO 0.00 LIQUID OPER-PIMCO 3,200,000.00 FEDERAL HOME LN BK CONS DISC 24-Apr-2000 -3,199,489.78 313384WA3 MAT 04/25/2000 24-Apr-2000 0.00 FC MORGAN J P SECS -FIXED !NCO 24-Apr-2000 0.00 09-May-2000 8:53:~9 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT 11 PAGE: 9 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLlDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/WSS LONG TERM OPER-PIMCO 249,578.83 DREYFUS TREASURY CASH MGMT 25-Apr-2000 -249,578.83 996085247 25-Apr-2000 249,578.83 B 0.00 LIQUID OPER-PIMCO 48,064.03 DREYFUS TREASURY CASH MGMT 25-Apr-2000 -48,064.03 996085247 25-Apr-2000 48,064.03 B 0.00 LONG TERM OPER-PIMCO 249,578.83 DREYFUS TREASURY CASH MGMT 25-Apr-2000 -249,578.83 996085247 25-Apr-2000 0.00 FC 25-Apr-2000 0.00 LJQUID OPER-PIMCO 48,064.03 DREYFUS TREASURY CASH MGMT 25-Apr-2000 -48,064.03 996085247 25-Apr-2000 0.00 FC 25-Apr-2000 0.00 LIQUID OPER·.PIMCO 2,500,000.00 FEDERAL HOME LN MTG CORP DJS 25-Apr-2000 -2,476,569.44 313396YJ6 MAT 06/20/2000 25-Apr-2000 2,476,569.44 B MERRILL LYNCH PIERCE FENNER 0.00 LIQUID OPER-PlMCO 2,500,000.00 FEDERAL HOME LN MTG CORP DJS 25-Apr-2000 -2.476,569.44 313396YJ6 MAT 06/20/2000 25-Apr-2000 0.00 FC MERRILL LYNCH PIERCE FENNER 25-Apr-2000 0.00 LIQUID OPER-PIMCO 1,800,000.00 FEDERAL HOME LN BK CONS DISC 25-Apr-2000 -1,799,714.00 313384WBI MAT 04/26/2000 25-Apr-2000 l,799,714.00 B CREDIT SUISSE FIRST BOSTON C 0.00 09-May-2000 8:53:59 Executive Workbench OCSGOOO I 0000 OCSD-CONSOLIDATED SH.ARES/PAR SECURITY ID TRANSCODE 1,800,000.00 313384WB1 FC 8,232.00 996085247 8 8,232.00 996085247 FC 1,800,000.00 313384XFl 8 J ,800,000.00 313384XF1 FC 6,665.lO 996087094 B FIXED INCOME SECVRITIES -1,32 1,469.79 39810#AE4 BC 09-May-WOO 8:53:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 TRANSACTION DESCRIPTION/ BROKER LIQUID OPER-PIMCO FEDERAL HOME LN BK CONS DISC MAT 04/26/2000 CREDIT SUISSE FIRST BOSTON C LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO FEDERAL HOME LN BK CONS DISC MAT 05/24/2000 CHASE SECURITIES, NEW YORK LIQUID OPER-PIMCO FEDERAL HOME LN BK CONS DISC MAT 05/24/2000 CHASE SECURITIES, NEW YORK LONG TERM OPER·PIMCO BSDT-LATE MONEY DEPOSIT ACCT LONG TERM OPER-PlMCO OREY STONE SVCNG CORP FHA #95 7.430% 06/01/2003 DD 02/29/0 CREDIT SUISSE FIRST BOSTON C TRADE DATE/ SETTLDATE/ COMPLDATE 25·Apr-2000 25-Apr-2000 25-Apr-2000 26-Apr-2000 26-Apr-2000 26-Apr-2000 26-Apr-2000 26-Apr-2000 26-Apr-2000 26-Apr-2000 26-Apr-2000 26-Apr-2000 26-Apr-2000 27-Apr-2000 27-Apr-2000 l 5-Feb-2000 03-Mar-2000 PAGE: JO AMOUNT/ COST/ GAIN/LOSS -1 ,799,714.00 0.00 0.00 ·8,232.00 8,232.00 0.00 -8,232.00 0.00 0.00 -1,791,768.00 1,791,768.00 o.oo -1,791,768.00 0.00 0.00 -6,665.10 6,665.10 0.00 l,302,163.94 -1,302,163.94 0.00 Executfve Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 11 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000-30-APR-2000 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE! AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION! SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN!LOSS LONG TERM OPER-PIMCO -1,321,469.79 GREYSTONE SVCNG CORP FHA #95 15-Feb-2000 545.47 39810#AE4 7.430% 06/01 /2003 DD 0212910 03-Mar-2000 0.00 lBC 0.00 LONG TERM OPER-PlMCO -1,321.469.79 GREYSTONE SVCNG CORP FHA #95 l 5-Feb-2000 1,302,709.41 398!0#AE4 7.430% 06/01/2003 DD 02/29/0 03-Mar-2000 0.00 FCC CREDIT SUISSE FIRST BOSTON C 03-Mar-2000 0.00 LONG TERM OPER-P1MCO l,319,636.15 GREYSTONE SVCNG CORP FHA#95 I 5-Feb-2000 -1,300,357.09 39810#AE4 7.430% 06/01/2003 DD 02129/0 03-Mar-2000 1,300,357.09 B CREDIT SUISSE FIRST BOSTON C 0.00 LONG TERM OPER-PrMCO J,319,636.15 GREYSTONE SVCNG CORP FHA #95 15-Feb-2000 -544.72 39810#AE4 7.430% 06/01 /2003 DD 02/29/0 03-Mar-2000 0.00 18 0.00 LONG TERM OPER-PIMCO 1,319,636.15 GREYSTONE SVCNG CORP FHA #95 15-Feb-2000 -1,300,901.8 1 398\0#AE4 7.430% 06/01/2003 DD 02/29/0 03-Mar-2000 0.00 FC CREDIT SUISSE FIRST BOSTON C 14-Apr-2000 0.00 LONG TERM OPER-PIMCO J 1,000,000.00 COMMIT TO PUR GNMA SF MTG 13-Mar-2000 -10,240,312.50 OJN062649 6.500% 04/15/2029 19-Apr-2000 0.00 PC BEAR STEARNS & CO INC, NY l 9-Apr-2000 0.00 LONG TERM OPER-PIMCO l 0,500,000.00 COMMIT TO PUR GNMA SF MTG 13-Mar-2000 -9, 7T4,843.75 OlN062649 6.500% 04/15/2029 l 9-Apr-2000 0.00 FC MERRILL LYNCH PIERCE FENNER 19-Apr-2000 0.00 09-May-2000 8:53:59 F.xecutive Workbenc:h @ ORANGE COUNTY SANITATION DISTRICT PAGE: 12 PORTFOLIO DETAIL OCSGOOO I 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PJMCO 6,250,000.00 COMMIT TO PUR GNMA SF MTG 16-Mar-2000 -5,662, I 09.38 OIN060643 6.000% 04/15/2029 19-Apr-2000 0.00 PC GOLDMAN SACHS & CO, NY 19-Apr-2000 0.00 LIQUID OPER-PIMCO 600,000.00 SEARS ROEBUCK ACCEP CORP NT 29-Mar-2000 -6ll,460.00 812404AEI 6.500% 06!15/2000 DD 0611319 03-Apr-2000 0.00 FC ADVEST CO, HARTFORD 03-Apr-2000 0.00 LONG TERM OPER-PIMCO -2,000,000.00 COMMIT TO PUR GNMA SF MTG 29-Mar-2000 2,007,187.50 OIN080641 8.000% 04/15/2030 19-Apr-2000 -2,007, 187.50 BC SALOMON BROS INC, NEW YORK 0.00 LONG TERM OPER-PIMCO 404,685.00 GNMA POOL #0524743 29-Mar-2000 -406, I 39.34 3621.IVSCO 8.000% 04/15/2030 DD 04/01/ l 9-Apr-2000 406,139.34 B SALOMON BROS INC, NEW YORK 0.00 LONG TERM OPER-PlMCO 404,685.00 GNMA POOL #0524743 29-Mar-2000 -1,618.74 36211V5CO 8.000% 04/15/2030 DD 04/0lf 19-Apr-2000 0.00 1B 0.00 LONG TERM OPER-PIMCO 404,685.00 GNMA POOL #0524743 29-Mar-2000 -407, 758.08 3621 IV5CO 8.000% 04/15/2030 DD 04/0 l/ I 9-Apr-2000 0.00 FC SALOMON BROS JNC, NEW YORK 19-Apr-2000 0.00 LONG TERM OPER-PIMCO 325,600.00 GNMA POOL #0528728 29-Mar-2000 -326, 770.13 36212BLH4 8.000% 04/15/2030 DD 04/0 l/ t 9-Apr-2000 326,770.13 B SALOMON BROS INC, NEW YORK 0.00 09-May-2000 8:53:59 Executive Workbench 8 ORANGE COUNTY SANITATION DISTRICT ' PAGE: 13 PORTFOLIO DETAIL OCSGOOO 10000 01-APR-2000-30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PlMCO 325,600.00 GNMA POOL #0528728 29-Mar-2000 -1,302.40 36212BLH4 8.000% 04/15/2030 DD 04/0 II l 9-Apr-2000 0.00 IB 0.00 LONG TERM OPER-PIMCO 325,600.00 GNMA POOL #0528728 29-Mar-2000 -328,072.53 36212BLH4 8.000% 04/15/2030 DD 04/01 / I 9-Apr-2000 0.00 FC SALOMON BROS INC, NEW YORK 19-Apr-2000 0.00 LONG TERM OPER-PIMCO 338,310.00 GNMA POOL #0479289 29-Mar-2000 -339,525.80 36209RNE9 8.000% 04/15/2030 DD 04/0 I/ 19-Apr-2000 339,525.80 B SALOMON BROS INC, NEW YORK 0.00 LONG TEllM OPER-PIMCO 338,3 10.00 GNMA POOL #0479289 29-MlU"-2000 -1,353.24 36209RNE9 8.000% 04/15/2030 DD 04/01/ 19-Apr-2000 0.00 IB 0.00 LONG TERM OPER-PIMCO 338,310.00 GNMA POOL #0479289 29-Mar-2000 -340,879.04 36209RNE9 8.000% 04/15/2030 DD 04/01/ 19-Apr-2000 0.00 FC SALOMON BROS lNC, NEW YORK l 9-Apr-2000 0.00 LONG TERM OPER-PIMCO 335,990.00 GNMA POOL #0522128 29-Mar-2000 -337,197.46 36211TA54 8.000% 04/15/2030 DD 04/01/ 19-Apr-2000 337,197.46 B SALOMON BROS INC, NEW YORK 0.00 LONG TERM OPER-PIMCO 335,990.00 GNMA POOL #0522128 29-Mar-2000 -1,343.96 36211TA54 8.000% 04/15/2030 DD 0410 I/ 19-Apr-2000 0.00 IB 0.00 09-May-2000 8:53:59 E.xe.cutive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 14 PORTFOLIO DETAIL OCSGOOOJ 0000 Ol -APR-2000 -30-APR-2000 OCSD-CONSOL!DATED SHARES/PAR TRADE DATE/ A~OUNT/ SECURITY JD TRANSACTION DESCRIPTrON/ SETTL DATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 335,990.00 GNMA POOL #0522128 29-Mar-2000 -338,541.42 3621 1TA54 8.000% 04/15/2030 DD 04/01/ 19-Apr-2000 0.00 FC SALOMON BROS INC, NEW YORK I 9-Apr-2000 0.00 LONG TERM OPER-PIMCO 288,590.00 GNMA POOL #0479288 29-Mar-2000 ·289,627.12 36209RNDI 8.000% 04/15/2030 DD 04/01/ 19-Apr-2000 289,627.12 a SALOMON BROS INC, NEW YORK 0.00 LONG TERM OPER-PIMCO 288,590.00 GNMA POOL #0479288 29-Mar-2000 · l, 154.36 36209RND I 8.000% 04/15/2030 DD 04/01/ 19-Apr-2000 0.00 IB 0.00 LONG TERM OPER-PIMCO 288,590.00 GNMA POOL #0479288 29-Mar-2000 -290,781.48 36209RND1 8.000% 04/15/2030 DD 04/01/ 19-Apr-2000 0.00 FC SALOMON BROS INC, NEW YORK 19-Apr-2000 0.00 LONG TERM OPER-PlMCO 306,625.00 GNMA POOL #0499734 29-Mar-2000 -307,726.93 36210REF3 8.000% 04/15/2030 DD 04/01 / l 9-Apr-2000 307,726.93 B SALOMON BROS INC, NEW YORK 0.00 LONG TERM OPER-PIMCO 306,625.00 Gl';JMA POOL #0499734 29-Mar-2000 ·1,226.50 362lOREF3 8.000% 04/15/2030 DD 041011 19-Apr-2000 0.00 lB 0.00 LONG TERM OPER-PIMCO 306,625.00 GNMA POOL #0499734 29-Mar-2000 -308,953.43 36210REF3 8.000% 04/15/2030 DD 04/0 I/ 19-Apr-2000 0.00 FC SALOMON BROS INC, NEW YORK I 9-Apr-2000 0.00 09-May-2000 8:53:59 Executive Workberich ~ ORANGE COUNTY SANITATION DISTRICT PAGE: 15 PORTFOLIO DETAIL OCSGOOO I 0000 01-APR-2000-30-APR-2000 OCSD-CONSOL!DATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 1,000,000.00 FORD MOTOR CR CO NT 31-Mar-2000 -991,420.00 345397GV9 6.750% os11snoos 05-Apr-2000 0.00 FC CHASE SECURITIES, NEW YORK 05-Apr-2000 0.00 LONG TERM OPER-PIMCO l,843,436.10 SALOMON SMITH BARNEY HLDGS I 05-Apr-2000 -1,809,535.31 79549BBG1 3.650% 02/14/2002 DD 02/14/ 1 O-Apr-2000 1,809,535.31 B SALOMON BROS INC, N~W YORK 0.00 LONG TERM OPER-PIMCO 1,843,436.10 SALOMON SMITH BARNEY HLDGS I 05-Apr-2000 -10,466.62 79549BBGI 3.650% 02/14/2002 DD 02/14/ 1 O-Ap(-2000 0.00 IB 0.00 LONG TERM OPER-PIMCO 1,843,436.10 SALOMON SMITH BARNEY HLDGS l 05-Apr-2000 -I ,820,001.93 79549BBG1 3.650% 02/14/2002 DD 02/14/ 10-Apr-2000 0.00 FC SALOMON BROS INC, NEW YORK 10-Apr-2000 0.00 LONG TERM OPER-PIMCO 3,200,670.00 US TREASURY INFLATION INDEX 10-Apr-2000 -3,082,645.29 9128272M3 3.375% 01/15/2007 DD 01 /15/ l l-Apr-2000 3,082,645.29 B LEHMAN GOVT SECS INC, NY 0.00 LONG TERM OPER-PIMCO 3,200,670.00 US TREASURY INFLATION INDEX 10-Apr-2000 -25,818.59 9128272M3 3.375% 01 /15/2007 DD 01/15/ l l-Apr-2000 0.00 IB 0.00 LONG TERM OPER-PIMCO 3,200,670.00 US TREASURY INFLATION INDEX 10-Apr-2000 ·3,108,463.88 9128272M3 3.375% 01115/2007 DD 01/15/ l 1-Apr-2000 0.00 FC LEHMAN GOVT SECS INC, NY 1 l-Apr-2000 0.00 09-May-2000 8:53:59 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 16 PORTFOLIO DETAIL OCSGOOOJOOOO 01-APR-2000-30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TBRM OPER-PIMCO 2,133,780.00 US TREASURY INFLATION INDEX l 0-Apr-2000 -2,053,763.24 9128272M3 3.375% 01/15/2007 DD 01/15/ I 1-Apr-2000 2,053,763.24 B LEHMAN GOVT SECS INC, NY 0.00 LONG TERM OPER-PIMCO 2,133,780.00 US TREASURY INFLATION INDEX 1 O-Apr-2000 -17,212.40 9128272M3 3.375% 01/15/2007 DD 011151 l J ·Apr-2000 0.00 IB 0.00 LONG TERM OPER-PlMCO 2,133,780.00 US TREASURY INFLATION INDEX l 0-Apr-2000 -2,070,975.64 9128272M3 3.375%01/15/2007 DD 01/15/ I l-Apr-2000 0.00 FC LEHMAN GOVT SECS INC, NY 1 l-Apr-2000 0.00 LONG TERM OPER-PIMCO 3,000,000.00 P ACIFlCORP SECD MTN #TR 0011 10-Apr-2000 -2,950,530.00 69512EEU5 7.300% 10/22/2004 DD l 0/22/9 13-Apr-2000 2,950,530.00 B MORGAN JP SECS -FIXED TNCO 0.00 LONG TERM OPER-PIMCO 3,000,000.00 P ACIFICORP SECD MTN #TR 0011 10-Apr-2000 -25,549.99 69512EEU5 7.300% l 0/2212004 DD I 0/22/9 13-Apr-2000 0.00 18 0.00 LONG TERM OPER-PIMCO 3,000,000.00 PACfFTCORP SECD MTN #TR 0011 1 O-Apr-2000 -2,976,079.99 69512EEU5 7.300% 10/22/2004 DD 10/22/9 l 3-Apr-2000 0.00 FC MORGAN J P SECS -FIXED lNCO l 3-Apr-2000 0.00 LONG TERM OPER-PIMCO 10,500,000.00 COMMIT TO PUR GNMA SF MTG 12-Apr-2000 -9,945,468.75 OIN062656 6.500% 05/15/2030 22-May-2000 9,945,468.75 B MERRILL LYNCH PIERCE FENNER 0.00 09-lvfay-2000 8:53:59 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 17 PORTFOLIO DETAIL OCSGOOO l 0000 01-APR-2000-30-APR-2000 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 12-Apr-2000 -10,422,500.00 01N062656 6.500% 05/15/2030 22-May-2000 l 0,422,500.00 B BEAR STEARNS & CO INC, NY 0.00 LONG TERM OPER-PJMCO 2,000,000.00 COMMIT TO PUR GNMA SF MTG l 3-Apr-2000 -2,023,125.00 OIN080658 8.000% 05/15/2030 22-May-2000 2,023, 125.00 B BEAR STEARNS & CO INC, NY 0.00 LONG TERM OPER-PlMCO 6,250,000.00 COMMIT TO PUR GNMA 1 SF I 3-Apr-2000 -5, 755,859.38 01N060650 6.000% 05/15/2029 22-May-2000 5, 755,859.38 B GOLDMAN SACHS & CO, NY 0.00 LONG TERM OPER-PIMCO 7,300,000.00 ONEOK INC NEW NT l 8-Apr-2000 -7,300,000.00 682680AJ2 FL TG RT 04/24/2002 DD 04/24/ 24-Apr-2000 7,300,000.00 B BANC OF AMERICA SEC LLC, CHA 0.00 LONG TERM OPER-PIMCO 7,300,000.00 ONEOK INC NEW ~T t8-Apr-2000 -7,300,000.00 682680AJ2 FLTG RT 04/24/2002 DD 04/24/ 24-Apr-2000 0.00 FC BANC OF AMERICA SEC LLC, CHA 24-Apr-2000 0.00 LIQUID OPER-PIMCO 175,000.00 CIT GROUP HLDGS MTN# SR 000 I 9-Apr-2000 -173,383.00 12560QAK5 5.625% 02/0212001 DD 02/0219 25-Apr-2000 173,383.00 B ADVESTCO,HARTFORD 0.00 LIQUID OPER-PIMCO 175,000.00 CIT GROUP HLDGS MTN # SR 000 t 9-Apr-WOO -2,269.53 I2560QAK5 5.625% 02/02/2001DD02/02/9 25-Apr-2000 0.00 IB 0.00 09-May-2000 8:53:59 fa:ecutive Work/tench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 18 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT( SECURITY ID TRANSACTION DESCRIPTIONf SETTLDATEf COSTf TRANSCODE BROKER COMPL DATE GAIN/LOSS LJQUID OPER-PIMCO 175,000.00 CIT GROUP HLDGS MTN # SR 000 I 9-Apr·2000 -175,652.53 12560QAK.5 5.625% 0210212001 DD 0210219 25-Apr-2000 0.00 FC ADVESTCO,HARTFORD 25-Apr-2000 0.00 LONG TERM OPER-PIMCO 5,000,000.00 SALOMON SB HLDGS MTN 25-Apr-2000 ·5,000,000.00 79548EEE8 PL TG RT 04/28/2003 DD 04/28/ 28·Apr·20QO 5,000,000.00 B SALOMON BROS INC, NEW YORK 0.00 LONG TERM OPER-PJMCO 5,000,000.00 SALOMON SB HLDGS MTN 25-Apr-2000 -5,000,000.00 79548EEE8 FLTG RT 04/28/2003 DD 04/28/ 28-Apr-2000 0.00 FC SALOMON BROS INC, NEW YORK 28-Apr-2000 0.00 LONG TERM OPER-PIMCO 7,000,000.00 OLD KENT BK MTN SB 00001 25-Apr-2000 -7,000,000.00 67982XAA6 VAR RT 11/01/2005 DD 04/28/0 28-Apr-2000 7,000,000.00 B LEHMAN GOVT SECS rNC, NY 0.00 LONG TERM OPER-PIMCO 7,000,000.00 OLD KENT BK MTN SB 0000 I 25-Apr-2000 ·7,000,000.00 67982XAA6 VAR RT 11/01/2005 DD 04/2810 28-Apr-2000 0.00 FC LEHMAN GOVT SECS INC, NY 28-Apr-2000 0.00 LONG TERM OPER-PlMCO 1,600.000.00 ALLSTATE CORP SR NT 26-Apr-2000 -1,594,032.00 020002AL5 7.875%05/0112005 DD 05/0 1/0 01 -May-2000 1,594,032.00 B MORGAN STANLEY & CO INC, NY 0.00 LONG TERM OPER-PIMCO 3,400,000.00 US TREASURY NOTES 27-Apr-2000 -3,392,828.12 912827262 06.500% 10/15/2006 DD 10/15/ 28-Apr-2000 3,392,828.12 B GOLDMAN SACHS & CO, NY 0.00 09-May-2000 8:53:59 Executive Workbench OCSGOOO I 0000 OCSD-CONSOLIDATED PAY UPS SHARESIP AR SECURITY ID TRANSCODE 3,400,000.00 912827Z62 IB 3,400,000.00 912827Z62 FC FIXED INCOME SECURITlES 5,820.00 9128275W8 PU 5,820.00 9128275W8 FC 131,240.00 9128272M3 PU 131,240.00 9128272M3 FC 09-May-2000 8:53:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000-30-APR-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO U S TREASURY NOTES 06.500% 10/15/2006 DD IO/J5/ LONG TERM OPER-PIMCO US TREASURY NOTES 06.500% 10115/2006 DD 10/15/ GOLDMAN SACHS & CO, NY LONG TERM OPER-PJMCO US TREASURY INFLATION INDEX 4.250%001/15/2010 DD 01/15/ LONG TERM OPER-PIMCO US TREASURY INFLATION INDEX 4.250%00111512010 DD 01/15/ LONG TERM OPER-PIMCO US TREASURY INFLATION INDEX 3.375% 01 /15/2007 DD 01 /15f LONG TERM OPER-PIMCO US TREASURY INFLATION INDEX 3.375% Ot/15/2007 DD 01 /1 SI TRADEDATEf SETTLDATE/ COMPLDATE 27-Apr-2000 28-Apr-2000 27-Apr-2000 28-Apr-2000 28-Apr-2000 15-Jan-2000 15-Jan-2000 15-Jan-2000 I 5-Jan-2000 28-Apr-2000 15-Jan-2000 J 5-Jan-2000 15-Jan-2000 l 5-Jan-2000 28-Apr-2000 PAGE: 19 AMOUNT/ COST/ GAIN/LOSS -7,849.73 0.00 0.00 -3,400,677.85 0.00 0.00 -5,820.00 5,820.00 0.00 -5,820.00 0.00 0.00 -131,240.00 131,240.00 0.00 -131,240.00 0.00 0.00 Executive Workbench OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 50,102.00 9128273A8 PU 50,102.00 9t28273A8 FC 7,283.30 79549BBGI PU 7,283.30 79549BBG1 FC 8.00 3133TCE95 PU 8.00 3133TCE95 FC 12,052.43 3133Tl1A4 PU 09-May-2000 8:53:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL Ol -APR-2000 -30-APR-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER·PIMCO US TREASURY JN:FLATION INDEX 3.625% 07/15/2002 DD 07/15/ LONG TERM OPER-PIMCO US TREASURY INFLATION INDEX 3.625% 07/15/2002 DD 011151 LONG TERM OPER-PIMCO SALOMON SMITH BARNEY HLDGS I 3.650% 02/1412002 DD 02/14/ LONG TERM OPER-PIMCO SALOMON SMITH BARNEY HLDGS I 3.650% 02/14/2002 DD 02/14/ LONG TERM OPER-PIMCO FHLMC MULTICLASS CTF E3 A VAR RT 08/15/2032 LONG TERM OPER-PJMCO FHLMC MULTICLASS CTF E3 A VAR RT 08/15/2032 LONG TERM OPER-PlMCO fHLMCMULTICLASS CTF SER 162 6.000% 11/15/2023 DD 11/01/9 TRADE DATE/ SETTLDATE/ COMPL DATE 15-Jan-2000 l 5-Jan-2000 15-Jan-2000 l 5-Jan-2000 28-Apr-2000 I 4-Feb-2000 14-Feb-2000 14-Feb-2000 14-Feb-2000 28-Apr-2000 o 1-Apr-2000 0 t-Apr-2000 0 J-Apr-2000 01-Apr-2000 13-Apr-2000 0 l -Apr-2000 Ol-Apr-2000 PAGE: 20 AMOUNT/ COST/ GAIN/LOSS ~50,102.00 50,102.00 0.00 -50,102.00 0.00 0.00 -7,283.30 7,283.30 0.00 -7,283.30 0.00 0.00 -8.00 8.00 0.00 -8.00 0.00 0.00 -12,052.43 12,052.43 0.00 Executive Workbench OCSGOOOJ 0000 OCSD-CONSOLIDATED SALES SHARES/PAR SECURITY ID TRANSCODE 12,052.43 3133Tl7A4 FC CASH & CASH EQUIVALENTS -8,941.75 996085247 s -8,941. 75 996085247 FC -162,212.85 996085247 s -162,212.85 996085247 FC -600,000.00 313384VZ9 s 09-May-2000 8:53:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO PHLMC MUL TICLASS CTF SER 162 6.000% 11/1512023 DD 11/01/9 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PlMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO f'EDBRAL HOME LN BK CONS DISC MAT 04124/2000 HSBC SECS INC, NEW YORK TRADE DATE/ SETTLDATE/ COMPLDATE 01-Apr-2000 01-Apr-2000 19-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 PAGE: 21 AMOUNT/ COST/ GAIN/WSS -12,052.43 0.00 0.00 8,941.75 -8,941.75 0.00 8,941.75 0.00 0.00 162,212.85 -162,212.85 0.00 162,212.85 0.00 0.00 594,780.00 -594,780.00 0.00 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 22 PORTFOLIO DETAIL OCSGOOO 10000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANS CODE BROKER COMPLDATE GAIN/LOSS LIQUID OPER-PIMCO -600,000.00 FEDERAL HOME LN BK CONS DISC 03-Apr•2000 3, 144.50 313384VZ9 MAT 04/24/2000 03-Apr-2000 0.00 JS 0.00 LIQUID OPER-PIMCO -600,000.00 FEDERAL HOME LN BK CONS DfSC 03-Apr-2000 597,924.50 313384VZ9 MAT 04/24/2000 03-Apr-2000 0.00 FC HSBC SECS INC, NEW YORK 03-Apr-2000 0.00 LONG TERM OPER-PIMCO -797,161.93 DREYFUS TREASURY CASH MGMT 04-Apr-2000 797,161.93 996085247 04-Apr-2000 -797,161.93 s 0.00 LONG TERM OPER-PIMCO -797, 161.93 DREYFUS TREASURY CASH MGMT 04-Apr-2000 '797,161.93 996085247 04-Apr-2000 0.00 FC 04-Apr-2000 0.00 LIQUID OPER-PJMCO -5.95 DREYFUS TREASURY CASH MGMT 05-Apr-2000 5.95 996085247 05-Apr-2000 -5.95 s 0.00 LIQUID OPER-PIMCO -5.95 DREYFUS TREASURY CASH MGMf 05-Apr-2000 5.95 996085247 05-Apr-2000 0.00 FC 05-Apr-2000 0.00 LONG TERM OPER·PIMCO -800,000.00 LEHMAN BROTHERS REPO 05-Apr-2000 800,000.00 99368A600 05.950% 04/05/2000 DD 04/04/ 05-Apr-2000 -800,000.00 s LEHMAN BROS JNC, NEW YORK 0.00 09-May-2000 8:53:59 F.xecutive Workbench OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANS CODE -800,000.00 99368A600 IS -800,000.00 99368A600 PC -200,000.00 313588VV4 s -200,000.00 313588VV4 IS -200,000.00 313588VV4 FC -84,132.76 996085247 s -84,132.76 996085247 FC 09-May-2000 8:53:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 'TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PTMCO LEHMAN BROTHERS REPO 05.950% 04/05/2000 DD 04/04/ LONG TERM OPER-PIMCO LEHMAN BROTIIERS REPO 05.950% 04/05/2000 DD 04/04/ LEHMAN BROS INC, NEW YORK LONG TERM OPER-PTMCO FEDERAL NATL MTG ASSN DISCOU MAT 04/20/2000 HSBC SECS INC, NEW YORK LONG TERM OPER-PIMCO FEDERAL NATL MTG ASSN OISCOU MAT 04120/2000 LONG TERM OPER-PIMCO FEDERAL NA1L MTG ASSN DISCOU MAT 04/20/2000 HSBC SECS INC, NEW YORK LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PJMCO DREYFUS TREASURY CASH MGMT TRADE DATE/ SETTL DATE/ COMPLDATE 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 05-Apr-2000 I O-Apr-2000 10-Apr-2000 I O-Apr-2000 I O-Apr-2000 I O·Apr-2000 PAGE: 23 AMOUNT/ COST/ GAIN/LOSS 132.22 0.00 0.00 800,132.22 0.00 0.00 L97,938.20 -l97,938.06 0.14 l,570.13 0.00 0.00 199,508.33 0.00 0.00 84,132.76 -84,132.76 0.00 84,132.76 0.00 0.00 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 24 PORTFOLIO DETAIL OCSGOOO I 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIP'{ION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAINILOSS LONG TERM OPER-PIMCO -197,299.25 DREYFUS TREASURY CASH MGMT l 1-Apr-2000 197,299.25 996085247 11-Apr-2000 -197,299.25 s 0.00 LONG TERM OPER-PIMCO -197,299.25 DREYFUS TREASURY CASH MGMT 1 l-Apr-2000 197,299.25 996085247 1 l-Apr-2000 0.00 FC l 1 -Apr~2000 0.00 LONG TERM OPER-PIMCO -5,000,000.00 FEDERAL HOME LN MTG CORP DIS 1 l-Apr-2000 4,954,500.00 313396WH2 MATURES 03/07/2000 l 1-Apr-2000 -4,954,694.45 s HSBC SECS INC, NEW YORK -194.45 LONG TERM OPER-PIMCO -5,000,000.00 FEDERAL HOME LN MTG CORP DIS l l-Apr-2000 28,320.83 313396WH2 MATURES 03/07/2000 I 1-Apr-2000 0.00 IS 0.00 LONG TERM OPER-PIMCO -5,000,000.00 FEDERAL HOME LN MTG CORP DIS l 1-Apr-2000 4,982,820.83 313396WH2 MA TUR£S 03/07 /2000 I 1-Apr-2000 0.00 FC HSBC SECS INC, NEW YORK 11 ·Apr-2000 0.00 LONG TERM OPER-PIMCO -3,000,000.00 FEDERAL HOME LN MTG CORP DIS 13-Apr-2000 2,972.8 16.66 313396WH2 MA TURES 03/07 /2000 13-Apr-2000 -2,972,8 16.67 s HSBC SECS INC, NEW YORK -0.01 LONG TERM OPER-PIMCO -3,000,000.00 FEDERAL HOME LN MTG CORP DlS 13-Apr-2000 17,873.34 313396WH2 MA TURES 03/07 /2000 13-Apr-2000 0.00 rs 0.00 09-May-2000 8:53:59 Executive Worlcbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 25 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000-30-APR-2000 OCSD-CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -3,000,000.00 FEDERAL HOME LN MTG CORP DIS 13-Apr-2000 2,990,690.00 313396WH2 MATURES 03/07/2000 13-Apr-2000 0.00 FC HSBC SECS INC, NEW YORK 13-Apr-2000 0.00 LONG TERM OPER-PIMCO -7,785.29 BSDT-LATE MONEY DEPOSIT ACCT l 8-Apr-2000 7,785.29 996087094 l 8-Apr-2000 -7,785.29 s 0.00 LIQUID OPER-PIMCO -89,091.57 DREYFUS TREASURY CASH MGMT l 8-Apr-2000 89,091.57 996085247 I 8-Apr-2000 -89,091.57 s 0.00 LIQUID OPER-PIMCO -89,091.57 DREYFUS TREASURY CASH MGMT I 8-Apr-2000 89,091.57 996085247 18-Apr-2000 0.00 FC 18-Apr-2000 0.00 LONG TERM OPER-PIMCO -972,270.78 DREYFUS TREASURY CASH MGMT I 9-Apr-2000 972,270.78 996085247 I 9-Apr-2000 -972,270. 78 s 0.00 LONG TERM OPER-PIMCO -972,270.78 DREYFUS TREASURY CASH MGMT ! 9-Apr-2000 972,270.78 996085247 l 9-Apr-2000 0.00 FC 19-Apr-2000 0.00 LONG TERM OPER-PIMCO -85,860.25 DREYFUS TREASURY CASH MGMT 20-Apr-2000 85,860.25 996085247 20-Apr-2000 -85,860.25 s 0.00 09-May-2000 8:53:59 Excc11t(Ve Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 26 PORTFOLIO DETAIL OCSGOOO 10000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDl\TE GAIN/LOSS LONG TERM OPER-PIMCO -85,860.25 DREYFUS TREASURY CASH MGMT 20-Apr-2000 85,860.25 996085247 20-Apr-2000 0.00 FC 20-Apr-2000 0.00 LONG TERM OPER-PIMCO -11,666.41 BSDT-LATE MONEY DEPOSIT ACCT 2 l-Apr-2000 11,666.41 996087094 21-Apr-2000 -ll,666.41 s 0.00 LONG TERM OPER-PIMCO -93,628.59 DREYFUS TREASURY CASH MGMT 24-Apr-2000 93,628.59 996085247 24-Apr-2000 -93,628.59 s 0.00 LONG TERM OPER-PJMCO -93,628.59 DREYFUS TREASURY CASH MGMT 24-Apr-2000 93,628.59 996085247 24-Apr-2000 0.00 FC 24-Apr-2000 0.00 LONG TERM OPER-PIMCO -2, 100,000.00 FIRST BOSTON CORP REPO 24-Apr-2000 2,100,000.00 99368P581 05.770% 04/24/2000 DD 04/20/ 24-Apr-2000 -2, I 00,000.00 s CREDIT SUISSE FIRST BOSTON C 0.00 LONG TERM OPER-PIMCO -2,100,000.00 FIRST BOSTON CORP REPO 24-Apr-2000 1,346.33 99368P581 05.770% 04/24/2000 DO 04/20/ 24-Apr-2000 0.00 IS 0.00 LONG TERM OPER-PIMCO -2, 100,000.00 FIRST BOSTON CORP REPO 24-Apr-2000 2,IOJ,346.33 99368P58 1 05.170% 04/24/2000 DD 04/20/ 24-Apr-2000 0.00 FC CREDIT SUISSE FIRST BOSTON C 24-Apr-2000 0.00 09-May-2000 &53:59 Executive Workbench @ ll ORANGE COUNTY SANITATION DISTRICT PAGE: 17 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000-30-APR-2000 OCSD·CONSOLJDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTlON DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE SRO KER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -5, 100,000.00 FEDERAL HOME LN MTG CORP DIS 24-Apr-2000 5,053, 788.33 313396WH2 MATURES 03/07/2000 24-Apr-2000 -5,053, 788.33 s HSBC SECS INC, NEW YORK 0.00 LONG TERM OPER-PIMCO -5. l 00,000.00 FEDERAL HOME LN MTG CORP DIS 24-Apr-2000 )9,570.34 313396WH2 MATURES 03/07/2000 24-Apr-2000 0.00 IS 0.00 LONG TERM OPER-PIMCO -5, I 00,000.00 FEDERAL HOME LN MTG CORP DIS 24-Apt-2000 5,093,358.67 313396WH2 MATURES 03/07/2000 24-Apr-2000 0.00 FC HSBC SECS INC, NEW YORK 24-Apr-2000 0.00 LONG TERM OPER-PIMCO -6,665.10 BSDT-LATE MONEY DEPOSIT ACCT 28-Apr-2000 6,665.10 996087094 28-Apr-2000 -6,665.10 s 0.00 LONG TERM OPER-PIMCO -474, 773.67 DREYFUS TREASURY CASH MGMT 28-Apr-2000 474,773.67 996085247 28-Apr-2000 -474,773.67 s 0.00 LONG TERM OPER-PIMCO -474,773.67 DREYFUS TREASURY CASH MGMT 28-Apr-2000 474,773.67 996085247 28-Apr-2000 0.00 FC 28-Apr-2000 0.00 LONG TERM OPER-PIMCO ~s, I 00,000.00 FEDERAL HOME LN MTG CORP DIS 28-Apr-2000 5,053,788.33 313396WH2 MATURES 03/07/2000 28-Apr-2000 -5,053, 788.33 s MORGAN J P SECS -FIXED !NCO 0.00 09-May-2000 8:53:59 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 28 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -5, l00,000.00 FEDERAL HOME LN MTG CORP DIS 28-Apr-2000 42,896.67 313396WH2 MATURES 03/07/2000 28-Apr-2000 0.00 IS 0.00 LONG TERM OPER-PIMCO -5,100,000.00 FEDERAL HOME LN MTG CORP DIS 28-Apr-2000 5,096,685.00 313396WH2 MATURES 03/07/2000 28-Apr-2000 0.00 FC MORGAN J P SECS -FIXED INCO 28-Apr-2000 0.00 LONG TERM OPER-PIMCO -4, 100,000.00 FEDERAL NATL MTG ASSN DTSCOU 28-Apr-2000 4,059,045.56 313588WK7 MA TURES 05/04/2000 28-Apr-2000 -4,059,045.56 s HSBC SECS INC, NEW YORK 0.00 LONG TERM OPER-PIMCO -4,J 00,000.00 FEDERAL NATL MTG ASSN DlSCOU 28-Apr-2000 36,922.77 313588WK7 MATURES 0510412000 28-Apr-2000 0.00 TS 0.00 LONG TERM OPER-PIMCO -4, 100,000.00 FEDERAL NATL MTG ASSN DISCOU 28-Apr-2000 4,095,968.33 313588WK7 MA TURES 05/04/2000 28-Apr-2000 0.00 FC HSBC SECS rNC, NEW YORK 28-Apr-2000 0.00 FIXED INCOME SECURITIES LONG TERM OPER-PlMCO -2,000,000.00 U S TREASURY NOTES 30-Mar-2000 2,075,581.44 912827Z62 06.500% l0/15/2006 DD 10/15/ 03-Apr-2000 0.00 FC GREENWICH CAP MKTS INC, GREE 03-Apr-2000 0.00 LONG TERM OPER-PIMCO -11,000,000.00 COMMIT TO PUR GNMA SF MTG 12-Apr-2000 10,431,953.13 01N062649 6.500% 04/15/2030 l 9-Apr-2000 -10,240,312.50 s BEAR STEARNS & CO INC, NY 191,640.63 09-May-2000 8:53:59 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT II PAGE: 29 PORTFOLIO DETAIL OCSGOOO I 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLJDATED 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 12-Apr-2000 10,431,953.13 OIN062649 6.500% 04/ 15/2030 19-Apr-2000 0.00 FC BEAR STEARNS & CO INC, NY 19-Apr-2000 0.00 LONG TERM OPER-PIMCO -l0,500,000.00 COMMIT TO PUR GNMA SF MTG 12-Apr-2000 9,954,492.19 01N062649 6.500% 04/15/2030 19-Apr-2000 -9,774,843.75 s MERRJLL LYNCH PIERCE FENNER 179,648.44 LONG TERM OPER-PIMCO -10,500,000.00 COMMIT TO PUR GNMA SF MTG 12-Apr-2000 9,954,492.19 OIN062649 6.500% 04/15/2030 19-Apr-2000 0.00 FC MERRJLL LYNCH PTERCE FENNER 20-Apr-2000 0.00 LONG TERM OPER-PIMCO -306,625.00 GNMA POOL #0499734 13-Apr-2000 310,745.27 36210REF'3 8.000% 04/15/2030 DD 041011 19-Apr-2000 -307, 726.93 s BEAR STEARNS & CO INC, NY 3,018.34 LONG Tc.RM OPER-PIMCO -306,625.00 GNMA POOL #0499734 J 3-Apr-2000 11226.50 36210REF3 8.000% 04/15/2030 DD 04/01 / 19-Apr-2000 0.00 IS 0.00 LONG TERM OPER-PIMCO -306,625.00 GNMA POOL #0499734 13-Apr-2000 311,971.77 36210REF3 8.000% 04/1512030 DD 041011 19-Apr-2000 0.00 FC BEAR STEARNS & CO INC, NY l 9-Apr-2000 0.00 LONG TERM OPER-PIMCO -6,250,000.00 COMMIT TO PUR GNMA SF MTO 13-Apr-2000 5,760,253.91 OtN060643 6.000% 04/15/2029 l 9-Apr-2000 -5,662, 109.38 s GOLDMAN SACHS & CO, NY 98,144.53 09-May-2000 8:53:59 Executive Workbench OCSGOOOJ 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANS CODE -6,250,000.00 OIN060643 FC ·5,000,000.00 912827Z62 s -5,000,000.00 9l2827Z62 IS -5,200,000.00 912810DGO s -5,200,000.00 912810000 rs -5,200,000.00 9128toDGO FC PRINCIPAL PAYMENTS FIXED INCOME SECURITIES 09-May-2000 8:53:59 II ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01 -APR-2000 -30-APR-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PI MCO COMMITTOPUR GNMASFMTG 6.000% 04/1512029 GOLDMAN SACHS & CO, NY LONG TERM OPER-PJMCO U S TREASURY NOTES 06.500% J0/15/2006 DD 101151 MORGAN STANLEY & CO INC, NY LONG TERM OPER-PIMCO US TREASURY NOTES 06.500% 10/15/2006 DD 10/15/ LONG TERM OPER-PfMCO US TREASURY BONDS l l.875% 11/15/2003 DD 10/05/ DEUTSCHE BK SEC INC, NEW YOR LONG TERM OPER-PIMCO U S TREASURY BONDS 11.875% 11115/2003 DD 10/05/ LONG TERM OPER-PIMCO U S TREASURY BONDS 11.875% 11/15/2003 DD 10/05/ DEUTSCHE BK SEC INC, NEW YOR TRADE DATE/ SETTLDATE/ COMPLDATE 13-Apr-2000 I 9·Apr·2000 19-Apr-2000 27·Apr-2000 01-May-2000 27-Apr-2000 01-May-2000 27-Apr-2000 28-Apr-2000 27-Apr-2000 28-Apr-2000 27-Apr-2000 28-Apr-2000 28-Apr-2000 PAGE: 30 AMOUNT/ COST/ GAIN/LOSS 5,760,253.91 0.00 0.00 4,998,437.50 -4,967,578.13 30,859.37 14,207.65 0.00 0.00 6,045,609.38 -6,698,250.00 -652,640.62 279,910.71 0.00 0.00 6,325,520.09 0.00 0.00 E:xecutive Workbench @ ~ ORANGE COUNTY SANITATION DISTRICT PAGE: 31 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000-30-APR-2000 OCSD-CONSOLJDATED SHARESfPAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTL DATE/ COST/ TRANS CODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -5,748.75 PHLMC GROUP #78-6064 Ol-Mar-2000 5,748.75 31348SWZ3 6.384% 01/01/2028 DD 12/01/ 01-Mar-2000 0.00 FC 17-Apr-2000 0.00 LONG TERM OPER-PIMCO 43,976.50 FHLMC MULTI CLASS CTF 83 A Ol-Mar-2000 -43,976.50 3133TCE95 VAR RT 08/15/2032 0 l-Mar-2000 44,024.60 PDC 48.10 LONG TERM OPER-PIMCO -43,984.50 FHLMC MULTICLASS CTFE3 A Ol-Mar-2000 43,984.50 3133TCE95 VAR RT 08/15/2032 01-Mar-2000 -44,032.60 PD -48.10 LONG TERM OPER-PIMCO -43,984.50 FHLMC MULTI CLASS CTF E3 A Ot-Mar-2000 43,984.50 3133TCE95 VAR RT 08/1 5/2032 01-Mar-2000 0.00 FC l 7-Apr-2000 0.00 LONU TERM OPER-PfMCO -40,3 15.65 FHLMC MULTICL MTG P/C 1574 E 01-Apr-2000 40,315.65 3133T0205 5.900% 06/1512017 01-Apr-2000 -40,258.96 PD 56.69 LONG TERM OPER-PlMCO -40,315.65 FHLMC MUL TICL MTG P/C 1574 E 01-Apr-2000 40,315.65 3\33T02DS 5.900% 06/ 15/2017 Ol·Apr-2000 0.00 FC 17-Apr-2000 0.00 LONG TERM OPER-PlMCO -34,577.00 FHLMC MUL TICLASS CTF 2146 QT 0 l-Apr-2000 3~577.00 3l33Tl<KU3 6.000% 11115/2011 Ol-Apr-2000 -33,966.50 PD 610.50 09-May-2000 8:53:59 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PA(}& 32 PORTFOLIO DETAIL OCSGOOO 10000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO -34,577.00 FHLMC MULTICLASS CTF 2146 QT 01-Apr-2000 34,577.00 3133TKKU3 6.000% ll/15/20ll 0 l-Apr-2000 0.00 PC I 7-Apr-2000 0.00 LONG TERM OPER-PIMCO -38,567.02 FHLMC GROUP llG5-0476 Ol-Apr-2000 38,567.02 3128DDQ55 7.000% 02/01/2003 DD 02/01/ Ol-Apr-2000 -39,169.63 PD -602.61 LONG TERM OPER-PIMCO -38,567.02 FHLMC GROUP #05-0476 Ol-Apr-2000 38,567.02 3128DDQ55 7.000%02/01/2003 DD 02/01/ Ol-Apr-2000 0.00 FC 17-Apr-2000 0.00 LONG TERM OPER-PIMCO -46,069.54 GNMA TI POOL #080088M 0 l.,Apr-2000 46,069.54 36225CC20 VAR RT 06120/2027 DD 0610119 Ol-Apr-2000 -47,077.31 PD -1,007.77 LONG TERM OPER-PIMCO -46,069.54 GNMA 11 POOL #080088M Ol-Apr-2000 46,069.54 36225CC20 VAR RT 06/20/2027 DO 06/0I/9 Ol-Apr-2000 0.00 FC 20-Apr-2000 0.00 LONG TERM OPER-PIMCO -4,489.10 FHLMC GROUP #78-6064 Ol-Apr-2000 4,489.10 31348SWZ3 6.384% 01/0112028 DD 12/01/ 01-Apr-2000 -4,379.68 PD 109.42 LONG TERM OPER-PJMCO -48,755.45 GNMA II POOL #0080023 O!-Apr-2000 48,755.45 36225CAZ9 7.125% 12/20/2026 OD 12/01/ Ol-Apr-2000 -49,562.96 PD -807.5 I 09-May-2000 8:53:59 Executive Workbench OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE -48,755.45 36225CAZ9 FC -34,076.00 3133TCE95 PD -l,845.JO 39810#AE4 PD -l,845. lO 39810#AE4 FC -566.63 302998GE3 PD -566.63 302998GE3 FC -24,064.04 3935052Y7 PD 09-May-2000 8:53:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 TRANSACTION DESCRlPTION/ BROKER LONG TERM OPER-PIMCO GNMA IT POOL #0080023 7.125% 12/20/2026 DD 12/01/ LONG TERM OPER-PIMCO FHLMC MUL TTCLASS CTF E3 A VAR RT 08/15/2032 LONG TERM OPER-PIMCO GREYSTONE SVCNG CORP FHA #95 7.430% 06/0112003 DD 0212910 LONG TERM OPER-PIMCO GREYSTONE SVCNG CORP FHA #95 7.430% 06/01/2003 DD 02/29/0 LONG TERM OPER-PIMCO WMP/HUNTOON PAIGE#000-1 1150 7.500% 12/01/2030 DD 10/21/9 LONG TERM OPER-PIMCO WMPIHUNTOON PAIGE#000-11150 7.500% 12/01/2030 OD 10121/9 LONG TERM OPBR-PIMCO GREEN TREE CORP 99-D CL A-I 6.290% 10/15/2013 DD 0812619 TRADE DATE/ SETTLDATE/ COMPLDATE 01-Apr-2000 Ol-Apr-2000 20-Apr-2000 01-Apr-2000 0 l-Apr-2000 OJ-Apr-2000 Ol-Apr-2000 0 l-Apr-2000 01-Apr-2000 25-Apr-2000 0 l-Apr-2000 01-Apr-2000 0 l-Apr-2000 Ol·Apr-2000 27-Apr-2000 15-Apr-2000 15-Apr-2000 PAGE: 33 AMOUNT/ COST/ GAIN/LOSS 48,755.45 0.00 0.00 34,076.00 -34,113.27 -37.27 1,845.10 -1,818.14 26.96 1,845.10 0.00 0.00 566.63 -554.32 12.31 566.63 0.00 o.oo 24,064.04 -24,064.04 0.00 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 34 PORTFOLIO DETAIL OCSGOOO I 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLlDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PlMCO -24,064.04 GREEN TREE CORP 99-D CL A-1 15-Apr-2000 24,064.04 3935052Y7 6.290% 10/15/2013 OD 08/26/9 I 5-Apr-2000 0.00 FC 17-Apr-2000 0.00 LONG TERM OPER-PlMCO -7,786.30 FIFTH THTRD BK AUTO TR 96A C 15-Apr-2000 7,786.30 31677EAA4 6.200% 09/01/2001DD03/15/9 15-Apr-2000 ·7,786.30 PD 0,00 LONG TERM OPER-PIMCO -7,786.30 .FIFTH THIRD BK AUTO TR 96A C 15-Apr-2000 7,786.30 31677EAA4 6.200%09/011200 1 DD0311519 15-Apr-2000 0.00 FC l 7-Apr-2000 o.oo LONG TERM OPER-PIMCO -51,068.50 GNMA GTD REMIC TR 2000-9 PH 16-Apr-2000 51,068.50 3837H4NX9 VAR RT 02/16/2030 16-Apr-2000 -51,068.50 PD 0.00 LONG TERM OPER-PIMCO -51 ,068.50 GNMA GTD REM IC TR 2000-9 FH I 6-Apr-2000 51 ,068.50 3837H4NX9 VAR RT 02/ 16/2030 16-Apr-2000 0.00 FC 17-Apr-2000 0.00 LONG TERM OPER-PIMCO -182,690.06 STUDENT LN MKTG ASSN 98-2 Al 25-Apr-2000 182,690.06 78442GBA3 FLTG RT 04/25/2007 DD 06/18/ 25-Apr-2000 -182,297.56 PD 392.50 LONG TERM OPER-PIMCO -182,690.06 STUDENT LN MKTG ASSN 98-2 Al 25-Apr-2000 182,690.06 78442GBA3 FL TG RT 04/25/2007 DD 06/18/ 25-Apr-2000 0.00 FC 25-Apr-2000 0.00 MATURITfES 09-May-2000 8:53:59 Executive Workbench OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE CASH & CASll EQUIVALENTS -2,800,000.00 124781037 MT -8,300,000.00 36959HD79 MT -900,000.00 2338EODAI MT -700,000.00 2338EODA1 MT -4,300,000.00 44922ADA5 MT -900,000.00 98412CDCO MT -14,000,000.QO 98412CDH9 MT 09-May-2000 8·D:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO CBA (DELA WAR) DISC 04/0312000 LONG TERM OPER-PIMCO GENERAL ELEC CAP DISC 04/07/2000 LIQUID OPER-PIMCO DAIMLERCHRYLSER DISC 04/10/2000 LONG TERM OPER-PIMCO DAIMLERCHRYLSER DIS C 04/1012000 LONG TERM OPER-PIMCO IBM CR CORP DISC 04/10/2000 LIQUID OPER-PlMCO XEROX CORP DlSC 04/12/2000 LONG TERM OPER-PIMCO XEROX CORP DISC 04/17/2000 TRADE DATE/ SETTL DATE/ COMPL DATE 03-Apr-2000 03-Apr-2000 03-Apr-2000 07-Apr-2000 07-Apr-2000 07-Apr-2000 10-Apr-2000 l O-Apr-2000 10-Apr-2000 10-Apr-2000 10-Apr-2000 IO-Apr-2000 10-Apr-2000 10-Apr-2000 10-Apr-2000 12-Apr-2000 12-Apr-2000 12-Apr-2000 l 7-Apr-2000 17-Apr-2000 I 7-Apr-2000 PAGE: 35 AMOUNT/ COST/ GAIN/LOSS 2,769,970.00 -2,769,970.00 0.00 8,222,307.39 -8,222,307.39 0.00 892,343.00 -892,343.00 0.00 694,776.44 -694,776.44 0.00 4,256,973.72 -4,256,973. 72 0.00 891 ,546.50 -891,546.50 0.00 13,861,699.45 -13,861 ,699.45 0.00 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 36 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRfPTION/ SETTL DATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LIQUID OPER-PIMCO -500,000.00 FEDERAL HOME LN MTG CORP DIS 18-Apr-2000 497,223.33 313396VT7 MAT 04/18/2000 I 8-Apr-2000 -497,223.33 MT 18-Apr-2000 0.00 LONG TERM OPER-PIMCO -1,900,000.00 FEDERAL NATL MTG ASSN DISCOU 20-Apr-2000 1,880,411.52 313588VV4 MAT 04/20/2000 20-Apr-2000 -1,880,411.52 MT 20-Apr-2000 0.00 UQUTD OPER-PIMCO -3,200,000.00 FEDERAL HOME LN BK CONS DISC 24-Apr-2000 3, I 72, 160.00 313384VZ9 MAT 04/24/2000 24-Apr-2000 -3,172,160.00 MT 24-Apr-2000 0.00 LIQUID OPER-PIMCO -3,200,000.00 FEDERAL HOME LN BK CONS DISC 25-Apr-2000 3,l99,489.78 313384WA3 MAT 04/25/2000 25-Apr-2000 -3, 199,489.78 MT 25-Apr-2000 0.00 LIQUID OPER-PIMCO -l,300,000.00 FEDERAL HOME LN MTG CORP DIS 25-Apr-2000 1,288,261.00 313396WA7 MAT 04125/2000 INCOME AT MAT 25-Apr-2000 -1,288,261.00 MT 25-Apr-2000 0.00 LIQUID OPER-PIMCO -1,800,000.00 FEDERAL HOME LN BK CONS DISC 26-Apr-2000 1,799,714.00 313384WBI MAT 04/26/2000 26-Apr-2000 -1,799,714.00 MT 26-Apr-2000 0.00 FIXED INCOME SECURITIES LONG TERM OPER-PIMCO -6,000,000.00 NATIONSBANK CHARLOTIE N C MT 07-Apr-2000 6,000,000.00 63858JDE6 5.850% 04/07/2000 DD 0410719 07-Apr-2000 -5,996,400.00 MT 07-Apr-2000 3,600.00 09-May-2000 8:53:59 Executive Workbench OCSGOOO I 0000 OCSD-CONSOLIDATED lNTEREST SHARES/PAR SECURJTYID TRANSCODE -2,000,000.00 423328BK8 ITC -2,000,000.00 06605TAL6 ITC 2,000,000.00 06605TAL6 IT 150,000.00 6l687YBUO IT 0.00 996087094 IT 2,500,000.00 59018SXP4 IT 09-May-WOO 8:53:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 TRANSACTION DESCRJPTION/ BROKER LONG TERM OPER-PIMCO HELLER FINANCIAL INC NTS FLTG RT 06/25/2001DD06/25/ LONG TERM OPER-PIMCO BANI<BOSTON CORP SR NTS 6.125% 03/15/2002DD 03/12/9 LONG TERM OPER-PIMCO BANKBOSTON CORP SR NTS 6.125% 0311512002 DD 03/ I 2/9 UQUID OPER-PIMCO MORGAN 1 P & CO MTN SR 00043 6. I 25% 10/02/2000 DD 10/02/9 LONG TERM OPER-PIMCO BSDT-LATE MONEY DEPOSIT ACCT LONG TERM OPER-PIMCO MERRILL LYNCH NOTES 6.375% 10/01/2001 DD 10/03/9 TRADE DATE/ SETTLDATE/ COMPLDATE 29-Dec-1999 25-Dec-1999 29-Dec-1999 15-Mar-2000 15-Mar-2000 15-Mar-2000 15-Mar-2000 I 5-Mar-2000 l 5-Mar-2000 03-Apr-2000 02-Apr-2000 03-Apr-2000 03-Apr-2000 Ol-Apr-2000 03-Apr-2000 03-Apr-2000 0 l-Apr-2000 03-Apr-2000 PAGE.· 37 AMOUNT/ COST/ GAIN/LOSS ·32,046.25 0.00 0.00 ·61,930.56 0.00 0.00 61,250.00 0.00 0.00 4,593.75 0.00 0.00 1.09 0.00 0.00 79,687.50 0.00 0.00 Executiw Workbcnc:h OCSGOOO 10000 OCSD-CONSOLJDATED SHARES/PAR SECURITY ID TRANSCODE 2,300,000.00 52517PPW5 IT 2,800,000.00 124781037 IT 0.00 996085247 IT 0.00 996085247 IT 6,000,000.00 63858JDE6 IT 8,300,000.00 36959HD79 IT 900,000.00 345402YK.l IT 09-May-2000 8:53:59 II ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL Ol-APR-2000 -30-APR-2000 TRANSACTION DESCRIPTlON/ BROKER LONG TERM OPER-PIMCO LEHMAN BROS HLDGS MTN TR 003 FL TO RT 04/01/2002 DD 03129/ LONG TERM OPER-PIMCO CBA (DELA WAR) DISC 04/03/2000 LlQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO NATIONSBANK CHARLOTTE NC MT 5.850% 04/07/2000 DD 0410719 LONG TERM OPER-PIMCO GENERAL ELEC CAP DISC 04/07/2000 LIQUID OPBR-PIMCO FORD MTR CR MTN# TR 00538 7.020% 10/10/2000 DD 10/10/9 TRADE DATE/ SETTLDATE/ COMPLDATE 03-Apr-2000 01-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 03-Apr-2000 04-Apr-2000 01-Apr-2000 04-Apr-2000 04-Apr-2000 Ol-Apr-2000 04-Apr-2000 07-Apr-2000 07-Apr-2000 07-Apr-2000 07-Apr-2000 07-Apr-2000 07-Apr-2000 I O-Apr-2000 I O-Apr-2000 1 O-Apr-2000 11 PAGE: 38 AMOUNT/ COST/ GAIN/LOSS 39,696.56 o.oo 0.00 30,030.00 0.00 0.00 247.13 0.00 0.00 2,838.07 0.00 0.00 175,500.00 o.oo 0.00 77,692.61 0.00 0.00 ~l,590.00 0.00 0.00 Executive Workbench OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 900,000.00 2338EODA1 IT 700,000.00 2338EODA1 IT 4,300,000.00 44922ADA5 IT 900,000.QO 98412CDCO IT 2,000,000.00 423328BK8 IT 8.00 3133TCE95 IT 475,000.00 318074AF8 IT 09-May-2000 8:53;59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 TRANSACTION DESCRIPTION/ BROKER LlQUID OPER-PIMCO DAIMLERCHRYLSER DISC 04/10/2000 LONG TERM OPER-PJMCO DAIMLBRCHRYLSER DISC 04/10/2000 LONG TERM OpER-PlMCO IBM CR CORP DISC 04/10/2000 LIQUID OPER-PIMCO XEROX CORP DISC 04/12/2000 LONG TERM OPER-PIMCO HELLER FINANCIAL INC NTS FLTG RT 06/25/2001 DD 06/25/ LONG TERM OPER-PIMCO FHLMC MULTICLASS CTf E3 A VAR RT 08/15/2032 LIQUID OPER-PIMCO FINOV A CAP CORP 6.375% J0/15/2000DD 10/1 J/9 TRADE DATE/ SETTLDATE/ COMPLDATE 1 O-Apr-2000 I O-Apr-2000 IO-Apr-2000 J O-Apr-2000 IO·Apr-2000 I O-Apr-2000 l O-Apr-2000 I O-Apr-2000 I 0-Apr-2000 12-Apr-2000 l 2-Apr-2000 12-Apr-2000 13-Apr-2000 25-Dec-1999 13-Apr-2000 13-Apr-2000 01-Mar-2000 13-Apr-2000 l 7-Apr-2000 J 5-Apr-2000 17-Apr-2000 . PAGE: 39 AMOUNT/ COST/ GAIN/LOSS 7,657.00 0.00 0.00 5,223.56 0.00 0.00 43,026.28 0.00 0.00 8,453.50 0.00 0.00 29,843.96 0.00 0.00 8.00 0.00 0.00 15,140.63 0.00 0.00 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 40 PORTFOLIO DETAIL OCSGOOO 10000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTL.DATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 23,000,000.00 U S TREASURY NOTES l 7-Apr-2000 747,500.00 912827262 06.500% 10/15/2006 DD 101151 15-Apr-2000 0.00 IT 17-Apr-2000 0.00 LONG TERM OPER-PIMCO 2,000,000.00 BEAR STEARNS COS INC 17-Apr-2000 67,500.00 073902AHl 6.750% 04/15/2003 I 5-Apr-2000 0.00 IT I 7-Apr-2000 0.00 LONG TERM OPER-PIMCO 4,000,000.00 MORGAN STANLEY MTN #TR 00299 l 7-Apr-2000 61,900.00 61745ENL1 FLTG RT 04/15/2002 DD 041151 15-Apr-2000 0.00 IT t 7-Apr-2000 0.00 LONG TERM OPER-PIMCO 38,567.02 F(iLMC GROUP #GS-0476 l 7-Apr-2000 50,643.78 3128DDQ55 7.000% 02101/2003 DD 02/01/ Ol-Apr-2000 0.00 £T 17-Apr-2000 0.00 LONG TERM OPER-PIMCO 14,000,000.00 XEROX CORP DlSC 17-Apr-2000 138,300.55 98412CDH9 04/17/2000 l 7-Apr-2000 0.00 1T l 7-Apr-2000 0.00 LONG TERM OPER-PIMCO 34,577.00 Ffµ,MC MUL Tl CLASS CTF 2146 QT 17-Apr-2000 12,390.68 3133TK.KU3 6.000% ll/15/201 1 Ol-Apr-2000 0.00 IT l 7-Apr~2000 0.00 LONG TERM OPER-PIMCO 40,315.65 FHLMC MULTICL MTG P/C 1574 E l 7-Apr-2000 2,270.75 3133T0205 5.900% 06/ 15/2017 01-Apr-2000 0.00 IT l 7-Apr-2000 0.00 09-May-2000 8:53:59 &ecutive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 4 I PORTFOLIO DETAIL OCSGOOO I 0000 01-APR-2000 -30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAiN/LOSS LONG TERM OPER-PlMCO 5,748.'75 FHLMC GROUP #78-6064 l 7-Apr-2000 1,802.33 31348SWZ3 6,384%01/0l/2028DD 12/01 / 0 l-Mar-2000 0.00 IT 17-Apr-2000 0.00 LONG TERM OPER-PIMCO 43,984.50 FHLMC MUL TICLASS CTF E3 A 17-Apr-2000 15,793.54 3133TCE95 VAR RT 08115/2032 01-Mar-2000 0.00 IT J 7-Apr-2000 o.oo LONG TERM OPER-PIMCO 24,064.04 GREEN TREE CORP 99-D CL A-1 l 7-Apr-2000 1,979.13 3935052Y7 6.290% 10/15/2013 DD 08/26/9 15-Apr-2000 0.00 .IT 17-Apr-2000 0.00 LONG TERM OPER-PIMCO 7,786.30 FIFfH THIRD BK AUTO TR 96A C l 7-Apr-2000 232.60 3l677EAA4 6.200% 09/011200 l DD 03/15/9 15-Apr-2000 0.00 TT 17-Apr-2000 0.00 LONG TERM OPER-PIMCO 51,068.50 GNMA GTD REMIC TR 2000-9 PH 17-Apr-2000 14,952.70 3837H4NX9 VAR RT 02/16/2030 l 6-Apr-2000 0.00 IT l 7-Apr-2000 0.00 LIQUID OPER-PIMCO 1,000,000.00 FEDERAL HOME LN MTG CORP DEB l 8-Apr-2000 5,060.10 3134A3RT5 FL TG RT 05/18/2000 DD 05/18/ 18-Apr-2000 0.00 IT I 8-Apr-2000 0.00 LIQUID OPER-PIMCO 500,000.00 FEDERAL HOME LN MTG CORP DIS 18-Apr-2000 2,776.67 3l3396VT7 MAT 04/ 18/2000 l 8-Apr-2000 0.00 IT 18-Apr-2000 0.00 09-May-2000 8:53:59 Executive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 42 PORTFOLIO DETAIL OCSGOOOJ 0000 01-APR-2000-30-APR-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTL DATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 12,052.43 PHLMC MULTJCLASS CTF SER 162 l 9-Apr-2000 12,052.43 3133T17A4 6.000% tl/15/2023 DD I 1/01/9 01-Apr-2000 0.00 TT 19-Apr-2000 0.00 LONG TERM OPER-PlMCO 2,000,000.00 GNMA GTD REMJC TR 2000-2 PA 20-Apr-2000 11,666.67 3837H3C70 7.000% 12/20/2022 Ol-Apr-2000 0.00 IT 20-Apr-2000 0.00 LONG TERM OPER-PIMCO 1,900,000.00 FEDERAL NATL MTG ASSN DlSCOU 20-Apr-2000 19,588.48 313588VV4 MAT 04/20/2000 20-Apr-2000 0.00 IT 20-Apr-2000 0.00 LONG TERM OPER-PIMCO 46,069.54 GNMA ll POOL #080088M 20-Apr-2000 l0,503.47 36225CC20 VAR RT 06/20/2027 DD 06/01/9 Ol-Apr-2000 0.00 IT 20-Apr-2000 0.00 LONG TERM OPER-PlMCO 48,755.45 GNMA H POOL #0080023 20-Apr-2000 8,811.13 36225CAZ9 7.125% 12/20/2026OD12/01/ 01-Apr-2000 0.00 IT 20-Apr-2000 0.00 LONG TERM OPER-PJMCO 3,500,000.00 CHRYSLER FINL LLC MTN #TR006 20-Apr-2000 20,905.82 17120QE80 FLTG RT 08/08/2002 DD 04/08/ 20-Apr-2000 0.00 lT 20-Apr-2000 0.00 LIQUID OPER-PIMCO 3,200,000.00 FEDERAL HOME LN BK CONS DISC 24-Apr-2000 27,840.00 313384VZ9 MAT 04/24/2000 24-Apr-2000 0.00 IT 24-Apr-2000 0.00 09-May-2000 8:53:59 £wcutive Workbench OCSGOOOJ 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 2,000,000.00 3133TDPV2 IT 3,200,000.00 313384WA3 IT l,300,000.00 313396WA7 IT 1,845.10 39810#AE4 IT 182,690.06 78442GBA3 IT 1,800,000.00 313384WB1 JT 566.63 302998GE3 IT 09-May-2000 8:53:59 ORANGE COUNTY SANITATION DISTRICT PORTFOLIO DETAIL 01-APR-2000 -30-APR-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO FHLMC MULTICLASS CTF Tl I A6 6.500% 0912512018 LIQUID OPER-PIMCO FEDERAL HOME LN BK CONS DISC MAT 04/25/2000 LIQUID OPER-PJMCO FEDERAL HOME LN MTG CORP DIS MAT 04/25/2000 INCOME AT MAT LONG TERM OPER-PIMCO GREYSTONE SVCNG CORP FHA #95 7.430% 06101/2003 DD 02/29/0 LONG TERM OPER-PIMCO STUDENT LN MKTG ASSN 98-2 At FLTG RT 04/25/2007 DD 06/18/ LlQUID OPER-PIMCO FEDERAL HOME LN BK CONS DISC MAT 04/26/2000 LONG TERM OPER-PIMCO WMP/HUNTOON P AJGE #000-11 I 50 7.500% 12/01/2030 DD 10/21/9 TRADE DATE/ SETTLDATEI COMPLDATE 25-Apr-2000 25-Mar-2000 25-Apr-2000 25-Apr-2000 25-Apr·2000 25-Apr-2000 25-Apr-2000 25-Apr-2000 25-Apr-2000 25-Apr-2000 Ol-Apr-2000 25-Apr-2000 25-Apr-2000 25-Apr-2000 25-Apr-2000 26-Apr-2000 26-Apr-2000 26-Apr-2000 27-Apr-2000 Ol-Apr-2000 27-Apr-2000 PAGE: 43 AMOUNT I COST/ GAIN/WSS 10,833.33 0.00 0.00 510.22 0.00 0.00 11,739.00 0.00 0.00 8,170.75 0.00 0.00 46,039.59 0.00 0.00 286.00 0.00 0.00 6,098.47 0.00 0.00 ExecUlive Workbench @ ORANGE COUNTY SANITATION DISTRICT PAGE: 44 PORTFOLIO DETAIL OCSGOOO 10000 01-APR-2000 -30-APR-2000 OCSD-CONSOL/DATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION{ SETTLDATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERtvf OPER-PlMCO 0.00 US TREASURY INFLATION INDEX 28-Apr-2000 5,820.00 9128275W8 4.250%001/15/2010 DD 01/15/ 0.00 CD 28-Apr-2000 0.00 LONG TERM OPER-PIMCO 0.00 SHORT TERM FDS INT ADJ 28-Apr-2000 -19.04 990000PJ4 NET OF OVERNIGHT INTEREST 28-Apr-2000 0.00 cw 28-Apr-2000 0.00 LONG TERM OPER-PIMCO 3,000,000.00 HELLER FINL M1N #TR 00246 28-Apr-2000 47,775.00 42333HLF7 FL TG RT 04/28/2003 DD 04/27/ 28-Apr-2000 0.00 IT 28-Apr-2000 0.00 LONG TERM OPER-PIMCO 1,700,000.00 MORGAN STANLEY MTN #TR 003 I I 28-Apr-2000 26,783.50 61745ENY3 FLTG RT 01/28/2002 DD 01/27/ 28-Apr-2000 0.00 lT 28-Apr-2000 0.00 LONG TERM OPER-PJMCO 0.00 SALOMON SMITH BARNEY HLDGS l 28-Apr-2000 7,283.30 79549BBG1 3.650% 02/14/2002 DD 02/14/ 0.00 CD 28-Apr-2000 0.00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX 28-Apr-2000 131,240.00 9J28272M3 3.375% 01/15/2007 DD 01/15/ 0.00 CD 28-Apr-2000 0.00 LONG TERM OPER-PIMCO 0.00 US TREASURY INFLATION INDEX 28-Apr-2000 50,102.00 9128273A8 3.625% 07/15/2002 DD 071151 0.00 CD 28-Apr-2000 0.00 09-May-2000 8:53:59 Executive W<11-!rbc:ncr