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Home My WebLink About2000-12-13DRAFT DEC 20 2000 MINUTES OF FINANCE. ADMINISTRAT1bN AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, December 13, 2000, 5:00 p.m. IK, A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on December 13, 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: Mark Leyes, Vice Chair John M. Gullixson Shirley McCracken Joy L. Neugebauer Peer Swan Norm Eckenrode, Board Chair Peter Green, Board Vice Chair OTHERS PRESENT: Thomas L. Woodruff, General Counsel Toby Weissert, Carollo Engineers (2) APPOINTMENT OF CHAIR PRO TEM Directors Absent: Shawn Boyd James W. Silva STAFF PRESENT: Blake Anderson, General Manager Gary Streed, Director of Finance Lisa Lawson, Communications Manager Lisa Tomko, Director of Human Resources Mike White, Controller Greg Mathews, Asst. to the General Manager Penny Kyle, Committee Secretary Director McCracken was appointed Chair pro tern until the arrival of Vice Chair Director Leyes. (3) PUBLIC COMMENTS There were no public comments. (4) RECEIVE, FILE AND APPROVE MINUTES OF PREVIOUS MEETING It was moved, seconded and duly carried to approve the minutes of the November 8, 2000 Finance, Administration and Human Resources Committee meetings. Minutes of the Finance, Administration and Human Resources Committee Meeting Page2 December 13, 2000 (5) REPORT OF THE COMMITTEE CHAIR The Committee Vice Chair had no report. (6) REPORT OF THE GENERAL MANAGER The General Manager, Blake Anderson, reported on the Kem County ordinance the District had challenged in court. The judge ruled against the District on all counts. The attorneys representing the three POTW plaintiffs (OCSD, LACSD and City of Los Angeles) are recommending an appeal be filed but no decision has been made yet. He further reported that Kings County is also considering an ordinance of the same type that Kern County has adopted which would eventually ban Class B biosolids. It was also reported that Chairman Eckenrode, Andrei loan of our staff and Blake met with the General Manager and Chairman of the Santa Ana Watershed Project Authority (SAWPA) regarding the relocation of the Santa Ana River Interceptor (SARI) and the costs involved with that relocation. SAWPA does not have the funds to pay for their approximate 75% share of the relocation costs, and does not anticipate raising their rates to help offset the costs. SAWPA has asked the District to delay construction of the project for at least one year and encouraged the District to find state and federal funding for the project. SAWPA indicated they would provide the District with help in securing the funds. Mr. Anderson reminded the Directors of the Legislators' Day luncheon for our Orange County legislators from Sacramento and Washington, D.C. It will be held at the District on Thursday, December 14, to discuss various water issues such as urban runoff, watershed protection, regulatory issues and the groundwater replenishment system. All Directors were encouraged to attend. (7) REPORT OF DIRECTOR OF FINANCE The Director of Finance had no report. (8) REPORT OF DIRECTOR OF HUMAN RESOURCES The Director of Human Resources had no report. (9) REPORT OF THE COMMUNICATIONS MANAGER Lisa Lawson, Communications Manager, reported the District hired a new public information coordinator, Sonja Wassgre, who would begin employment after the holidays. Ms. Lawson also reported a request for information had been received from The Register for expenses from the.last three years for all directors and the two top managers. The seven directors and two staff members who had expenses that were provided to the Register reporter have been notified. (10) REPORT OF GENERAL COUNSEL General Counsel had no report. Minutes of the Finance, Administration and Human Resources Committee Meeting Page3 December 13, 2000 (11) CONSENT CALENDAR ITEMS a. FAHR00-91: Receive and file Treasurer's Report for the month of November 2000. b. FAHR00-92: Receive and file Certificate of Participation {COP) Monthly Report. c. FAHR00-93: Receive and file Employment Status Report as of November 27, 2000. d. FAHR00-94: Receive and file report of General Manager approved purchases in amounts exceeding $50,000 in accordance with Board purchasing policies. e. FAHR00-95: Recommend to the Board of Directors to adopt Resolution No. OCSD 00- Motion: -' amending Resolution No. OCSD 98-33, Amending Human Resources Policies and Procedures Manual. It was moved, seconded and duly carried to approve the recommended actions for items specified as 11 (a) through (e) under Consent Calendar. (12) ACTION ITEMS a. FAHR00-96: Approve the 2001-02 Budget Assumptions, Fiscal Policy Statements, and Motion: Budget Calendar. It was moved, seconded and duly carried to approve the recommendation. b. FAHR00-97: Recommend to the Board of Directors to authorize staff to conduct a Motion: competitive selection process and enter into a Reserve Fund Investment Agreement in order to maximize security, yield and liquidity. It was moved, seconded and duly carried to recommend approval to the Board of Directors, and to have staff briefly assess whether there is an actual need to do this; to have the FAHR Committee involved in the preselection interview process and to bring this back to the FAHR Committee in one year to compare results with the PIMCO managed investment portfolios. c. FAHR00-98: Recommend to the Board of Directors to adopt Ordinance No. OCSD-14, Motion: An Ordinance of the Board of Directors of Orange County Sanitation District, Establishing Board of Directors' Compensation, and Repeal Resolution No. OCSD 98-3. A substitute motion was moved and seconded to approve the Ordinance to include reimbursement for a maximum of ten meetings per month. The motion failed by a vote of four nays, two ayes, and one abstention. The Ordinance, as written, was then moved, seconded and duly carried to recommend approval to the Board of Directors, by a vote of five ayes and two nays. Minutes of the Finance, Administration and Human Resources Committee Meeting Page4 December 13, 2000 (13) INFORMATIONAL PRESENTATIONS a. FAHR00-99: Analysis of City of Anaheim Treasurer's comments re Quarterly Investment Management Program Report No report was given as the staff report was sufficient. b. FAHR00-100: Compensation & Classification Study No report was given as the staff report was sufficient. (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS. IF ANY There were none. (15) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON AFUTURE AGENDA FOR ACTION AND STAFF REPORT There were none. (16) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled for February 14, 2001 at 5 p.m. (17) CLOSED SESSION There was no closed session. (18) ADJOURNMENT The Chair declared the meeting adjourned at 7:20 p.m. Submitted by: 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 ~ J3 , 20Q:Q., was duly posted for public inspection in the main lobby of the District's offices on ~ ? 2oo_o IN WITNESS WHEREOF, I have hereunto set my hand this if ;;t;f-day of ~2oo_a. \\RADON\DAT A 1 \WP .OTA \ADMIN\BS\FORMS\AGENDA CERTIFICATION-FAHR COMMITTEE.DOC December 13, 2000 DISTRIBUTION FAHR COMMITTEE MEETING PACKAGE Full Agenda Package Committee & Mailing List Blake P. Anderson* Dan Dillon Marc Dubois Penny Kyle David Ludwin Greg Mathews Patrick Miles* Bob Ooten Lisa Tomko* Gary Streed Lisa Lawson* Robert Ghirelli Mike White* Brad Cagle Julie Matsumoto BobGeggie Jeff Esber Patricia Jonk Lenora Crane Extras Notices and Agenda Only 48 19 1 1 1 2 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 5 (for meeting hand-out, if necessary} 9 Posting 1 Jean Tappan 1 Gail Cain 1 Rose Marsella 1 Frankie Woodside 1 Patricia Magnante 1 Janet Gray 1 Security 1 Plant 1 Control Center 1 Ron Zenk, Dist. 14 Treasurer's Report Only \\radon\data 1 \wp.dta\admin\BS\F AHR\DISTRIBUTIONLISTFAHR.doc phone: (7141 962-2411 mailing address: P.O. 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 Grave Huntington Beach Irvine La Habra La Palma Las Alamitos Newport Beach Orange Placentia Santa Ana Sea/ Beach Stanton Tustin Villa Park Yorba Linda County of Orange Sanitary Districts Costa Mesa Midway City Water Districts Irvine Ranch ORANGE COUNTY SANITATION DISTRICT December 6, 2000 NOTICE OF MEETING FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, DECEMBER 13, 2000-5:00 P.M. DISTRICT'S ADMINISTRATIVE OFFICES 10844 ELLIS AVENUE FOUNTAIN VALLEY, CALIFORNIA 92708 WWW.OCSD.COM 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. "Maintaining World-Class Leadership in Wastewater and Water Resource Management" FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING DATES FAHR Committee Meeting Date DARK February 14, 2001 March 14, 2001 April 11, 2001 May 9, 2001 June 13, 2001 July 11, 2001 DARK September 12, 2001 October 10, 2001 November 14, 2001 December 12, 2001 Board Meeting Dates January 24, 2001 February 28, 2001 March 28, 2001 April 25, 2001 May 23, 2001 June 27, 2001 July 18, 2001 August22,2001 September 26, 2001 October 24, 2001 November 28, 2001 December 19, 2001 November 1, 2000 February Consider Annexation Fee Policy Action February 2000-01 Mid-Year Financial and Operational Report Action February Quarterly Investment Program Report Action February Update Human Resources Policies Action February Compensation and Classification Study Report Action February Lead Update Information March Preliminary 2001-02 User Fee Report Information March 2001-02 Budget Status Report Information March Review General Manager approved purchases Action exceeding $50,000 --- April 2001-02 User Fee Recommendation Action April 2001-02 Source Control Permit Fees Action April 2001-02 User Fee Ratio Recommendations Action April 2001-02 Proposed Budget Overview Action ROLL CALL FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE Meeting Date: December 13, 2000 Time: 5:00 p.m. Adjourn: __ _ COMMITTEE MEMBERS Thomas R. Saltarelli (Chair) Mark Leves (Vice Chair) Shawn Boyd John M. Gullixson Shirley McCracken Joy L. Neugebauer James W. Silva Peer Swan Norman Z. Eckenrode (Board Chair) Peter Green (Board Vice Chair) Jan Debay (Past Board Chair) OTHERS I Tom Woodruff, General Counsel I Toby Weissert, Carollo Engineers STAFF Blake Anderson, General Manaaer David Ludwin, Director of Enaineerina Bob Ooten, Director of 0 & M Lisa Tomko. Director of Human Resources Gary Streed. Director of Finance Patrick Miles, Director of Information Technoloav Robert Ghirelli, Director of Technical Services Lisa Lawson, Communications Manager -Grea Mathews, Assistant to the General Manaaer Mike White, Controller Penny Kyle, Committee Secretary c: Lenora Crane .( '' ' AGENDA REGULAR MEETING OF THE FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, DECEMBER 13, 2000, AT 5:00 P.M. ADMINISTRATIVE OFFICE 10844 Ellis Avenue Fountain Valley, California 92708 www.ocsd.com 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-N'ECESSARY (3) PUBLIC COMMENTS All persons wishing to address the Finance, Administration and Human Resources Committee on specific agenda items or matters of general interest should do so at this time. As determined by the Chair, speakers may be deferred until the specific item is taken for discussion and remarks may be limited to five minutes. Matters of interest addressed by a member of the public and not listed on this agenda cannot have action taken by the Committee except as authorized by Section 54954.2(b). December 13, 2000 (4) APPROVE MINUTES OF PRE\LIOUS MEETING Approve minutes of the November 8, 2000, Finance, Administration and Human Resources Committee meetings. (5) REPORT OF COMMITIEE CHAIR (6) REPORT OF GENERAL MANAGER (7) REPORT OF DIRECTOR OF FINANCE (8) REPORT OF DIRECTOR OF HUMAN RESOURCES (9) REPORT OF THE COMMUNICATIONS MANAGER (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: ·fAiTmatters placelonttie-·consent calendar are considered as ·not requi"ring discussion or further explanatfon and 1unless any particular item is requested to be removed from the consent calendar by a Director, staff member or l member of the public in attendance, there will be no separate discussion of these items. All items on the consent jcalendarwill be enacted by one action approving all motions, and casting a unanimous ballot for resolutions iincluded on the consent calendar. All items removed from the consent calendar shall be considered in the regular !order of business. I Members of the public who wish to remove an item from the consent calendar shall, upon recognition by the chair, jstate their name, address and designate by number the item to be removed from the consent calendar. l _!The Chair will determine if any items are to be deleted from the consent calendar. I I I i I j 1 '-----.-.. --·..--------··--------·---··--··-··---· ..____;! a. FAHR00-91: b. FAHR00-92: c. FAHR00-93: Receive and file Treasurer's Report for the month of November 2000. The Treasurer's Report will be distributed at the FAHR Committee meeting in accordance with the Board-approved Investment Policy, and in conformance to the Government Code requirement to have monthly reports reviewed within 30 days of month end. Receive and file Certificate of Participation (COP) Monthly Report. Receive and file Employment Status Report as of November 27, 2000. 2 .. d. FAHR00-94: e. FAHR00-95: December 13, 2000 Receive and file report of General Manager approved purchases in amounts exceeding $50,000 in accordance with Board purchasing policies. Recommend to Board of Directors to adopt Resolution No. OCSD 00- _, amending Resolution No. OCSD 98-33, Amending Human Resources Policies and Procedures Manual. ENO OE CONSENT CALENDAR Consideration of items deleted from Consent Calendar, if any. (12) ACTION ITEMS a. FAHR00-96: b. FAHR00-97: c. FAHR00-98: Recommend to the Board of Directors to approve the 2001-02 Budget Assumptions, Fiscal Policy Statements, and Budget Calendar (Mike White-15 minutes) Recommend to the Board of Directors to authorize staff to conduct a competitive selection process and enter into a Reserve Fund Investment Agreement in order to maximize security, yield and liquidity. (Gary Streed -15 minutes) Recommend to the Board of Directors to adopt Ordinance No. OCSD- 14, An Ordinance of the Board of Directors of Orange County Sanitation District, Establishing Board of Directors' Compensation, and Repeal Resolution No. OCSD 98-3. (Greg Mathews/Blake Anderson -10 minutes) (13) IN FOR MA TIONAL PRESENTATIONS a. FAHR00-99: b. FAHR00-100: Analysis of City of Anaheim Treasurer's comments re Quarterly Investment Management Program Report. (Gary Streed -5 minutes) Compensation & Classification Study (14) OTHER BUSINESS. COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS. IF ANY (15) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT 3 December 13, 2000 (16) FUTURE MEETING DA TES The next Finance, Administration and Human Resources Committee Meeting is scheduled for February 14, 2000, at 5 p.m. (17) CLOSED SESSION i During the course ofconducting the busiileSsSet forth on this agenda as a regular meeting of the Committee, the 1 !chair may convene the Committee in closed session to consider matters of pending real estate negotiations, 1l !pending or potential litigation, or personnel matters, pursuant to Government Code Sections 54956.8, 54956.9, 154957 or 54957.6, as noted. 11 _ .. I.· !Reports relating to (a) purchase and sale of real property; (b) matters of pending or potential litigation; (c) j employee actions or negotiations with employee representatives; or which are exempt from public disclosure under jlhe California Public Records Act, may be reviewed by the Committee during a permitted closed session and are i inot available for public inspection. At such time as final actions are taken by the Committee on any of these t L~!:!.~~2_ the minutes will reflect. all re~~ed disclosu~~s of information. ···----···------. .J A. Convene in closed session. 1. Confer with District's labor negotiator for Local 501 IUOE and SPMT continuing MOU implementation negotiations (Government Code Section 54957.6). 2. Confer with General Counsel re claim of Crow Winthrop Development Limited Partnership (Government Code Section 54956.9(b)(3)(c). 8. Reconvene in regular session. C. Consideration of action, if any, on matters considered in closed session. (18) ADJOURNMENT ..--.--·-. --·-----·-.. ------·-.. ·-·~--------"- !Notice To Committee Members: I 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. I committee Chair: Thomas Saltarelli (949) 833-9200 !committee Se<?!~!~ry: PennY.: K~--.. (714) 593-7130 4 MINUTES OF FINANCE. ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, November 8, 2000, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on November 8, 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: Mark Leyes, Vice Chair Shawn Boyd Shirley McCracken Joy L. Neugebauer James W. Silva Peer Swan Norm Eckenrode, Board Chair Peter Green, Board Vice Chair Jan Debay, Past Board Chair OTHERS PRESENT: Tom Woodruff, General Counsel Don Hughes Tom Dawes Bob Geggie Ryal Wheeler Mike Moreland Greg Giles (2) APPOINTMENT OF CHAIR PRO TEM No appointment was necessary. (3) PUBLIC COMMENTS There were no public comments. Directors Absent: Thomas R. Saltarelli, Chair John M. Gullixson STAFF PRESENT: Blake Anderson, General Manager Gary Streed, Director of Finance Lisa Lawson, Communications Manager David A Ludwin, Director of Engineering Lisa Tomko, Director of Human Resources Mike White, Controller Greg Mathews, Asst. to the General Manager Jan Collins, Human Resources Analyst Lisa Arosteguy, Senior Human Resources Analyst Nick Arhontes, Collection Facilities Maintenance Manager Jim Herberg, Engineering Supervisor Penny Kyle, Committee Secretary Minutes of the Finance, Administration and Human Resources Committee Meeting Page2 November 8, 2000 (4) RECEIVE. FILE AND APPROVE MINUTES OF PREVIOUS MEETING It was moved, seconded and duly carried to approve the minutes of the October 11, 2000 Finance, Administration and Human Resources Committee meetings. (5) REPORT OF THE COMMITTEE CHAIR The Committee Vice Chair had no report. (6) REPORT OF THE GENERAL MANAGER The General Manager had no report. (7) REPORT OF DIRECTOR OF FINANCE Director of Finance Gary Streed reported that one of the District's fire, flood and earthquake insurance carriers, Reliance Insurance Company, has been down-graded to Best rating "C". Reliance has 12 ~%of the coverage. To replace the coverage with a company rated "A" would cost an additional $166,000 in premium. Robert Driver, the District's broker, and staff recommend that the District not pay the additional premium as the District would have a priority claim on any bankruptcy proceedings if Reliance fails to pay any claims. Mr. Streed then reported on opportunities with long-term investment agreements on debt service reserve funds. It was recommended that staff prepare a written report for the next committee meeting outlining the advantages and disadvantages of the long-term agreements. (8) REPORT OF DIRECTOR OF HUMAN RESOURCES The Director of Human Resources referred the Directors to charts distributed to them that evening per Director Gullixson's request on the cost of salaries and benefits to all employees, as well as the impact of increased employee benefits/wages to the user fee rates. (9) REPORT OF GENERAL COUNSEL General Counsel Tom Woodruff reported on the legislative Bill, recently enacted, regarding increasing Directors' compensation for attendance at meetings or for each day's service for the District. This issue will be placed on the Steering Committee agenda for information as the first step towards adopting the necessary Ordinance as previously directed by the Board. (10) CONSENT CALENDAR ITEMS Director McCracken requested Item 10(e) be pulled for discussion. a. FAHR00-81: Receive and file Treasurer's Report for the month of September 2000. b. FAHR00-82: Receive and file Certificate of Participation (COP) Monthly Report. c. FAHR00-83: Receive and file Employment Status Report as of October 25, 2000. Minutes of the Finance, Administration and Human Resources Committee Meeting Page3 November 8, 2000 d. FAHR00-84: Recommend to Board of Directors to receive and file the First Quarter Motion: Financial and Operational Report for the period ending September 30, 2000. It was moved, seconded and duly carried to approve the recommended actions for items specified as 10(a) through (d) under Consent Calendar. e. FAHR00-91 : Recommend to the Board of Directors to receive and file the Quarterly Motion: Investment Management Program Report for the period July 1, 2000 through September 30, 2000. Director McCracken submitted written questions from the City of Anaheim Treasurer to Gary Streed, Director of Finance, with regard to the Quarterly Investment Management Program Report. It was requested the submitted questions and staffs response to the questions be included as an informational item in next month's committee package. It was moved, seconded and duly carried to recommend approval to the Board of Directors. (11) ACTION ITEMS a. FAHR00-85: Recommend to Board of Directors to adopt Resolution No. OCSD 00-_, Motion: Amending Resolution No. OCSD 98-33, Amending Human Resources and Policies Procedures Manual, providing for (1) Create Limited Term contract Engineer classification at pay range E13($67,122 -$94,929); (2) Create Engineering Contracts Administrator classification at pay range E7 ($50,068 -$70,847); and (3) Reinstate approved positions of Maintenance Worker, Mechanic, Senior Mechanic and Lead Mechanic from the FY99/00 budget at a proposed cost of $5,533. Inactivate the Collection Facilities Worker I and II classifications. It was moved, seconded and duly carried to recommend approval to the Board of Directors. b. FAHR00-86: Recommend to Board of Directors to receive, file and approve the Motion: District's Comprehensive Annual Financial Report (CAFR) for the year ended June 30, 2000, prepared by staff and audited by Moreland and Associates, Certified Public Accountants. It was moved, seconded and duly carried to recommend approval to the Board of Directors. (12) INFORMATIONAL PRESENTATIONS a. FAHR00-87: Leadership Training for Management Lisa Arosteguy, Senior Human Resources Analyst, gave a brief report on the leadership training program for management. Minutes of the Finance, Administration and Human Resources Committee Meeting Page4 November 8, 2000 b. FAHR00-88: Not used c. FAHR00-89 Groundwater Replenishment System Director Peer Swan gave a slide presentation and overview of the Groundwater Replenishment System project (GWRS). He also gave a brief presentation of suggested opportunities he is recommending to reduce project implementation risks and costs through a three-phase process. d. FAHR00-90 US EPA's proposed regulations on Capacity, Management, Operations and Maintenance (CMOM) of sanitary sewer systems Nick Arhontes spoke to the Directors regarding new EPA regulations that will be published for final public comment that have significant financial impacts on all public agencies that own sanitary sewer systems. (13) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY There were none. (14) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT There were none. (15) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled for December 13, 2000 at 5 p.m. (16) CLOSED SESSION There was no closed session. (18) ADJOURNMENT The Chair declared the meeting adjourned at approximately 7:30 p.m. Submitted by: y;;., f {,./ {, PennyM yle FAHR Committee Seer t ry H:\wp.dta'lag911dalFAHRIFAHR2000\2000 Nr utesll 10800 FAHR MIN.doc FAHR COMMITTEE Meeting Date To Bd. of Dir. 12/13/00 AGENDA REPORT Item Number Item Number FAHR00-92 Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: CERTIFICATES OF PARTICIPATION (COP) MONTHLY REPORT - NOVEMBER 2000 GENERAL MANAGER'S RECOMMENDATION Receive and file Certificates of Participation (COP) Monthly Report for the month of November 2000. SUMMARY The District began issuing Certificates of Participation (COPs) on a variable interest rate basis in 1990. These variable rate COPs were a part of our long-term financing plan which also included some more traditional fixed rate borrowing. In 1992 and 1993, some of the fixed rate COPs were refunded and replaced with synthetic-fixed rate COPs. These are variable interest rate COPs that are also subject to a long-term fixed-rate interest exchange agreement (SWAP). The SWAP provides the maximum interest rate to be paid by the District, and is less costly than traditional fixed rate borrowing. In August 2000, the entire financing program was restructured and modernized to incorporate and take advantage of the consolidation of District books of account and revenue structure. This process has reduced the number of COP issues from five to three; 1992 Refunding COPs, 1993 Refunding COPs and 2000 Refunding COPs. The 2000 COPs can be divided into Series A and Series B, if additional remarketing agents are desired. Variable interest rate COPs can be put back on the market by the buyer each day. When this happens, they must be remarketed or sold to another buyer. This process, called remarketing, is generally provided by a municipal bond underwriter. The remarketing agent sets the interest rate they believe is required to sell the COPs. Some issuers believe that having more than one remarketing agent promotes competition and results in lower interest costs. Staff has monitored variable interest rate issues of other agencies since the inception of our program. The attached charts are described in the "Additional Information" section of this agenda report. They are provided monthly to compare our actual interest rates to a composite index, and to other selected issuers of similar credit quality, and with COP issues of similar amounts. Many variables affect interest rates, but staff expects our rates to be among the lowest. H:\wp.dtalagenda1FAHRIFAHR200!1.2000 Agenda Reports\FAHR00-92.doc Rellised: 8/20/98 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. 12] Not applicable (information item) ADDITIONAL INFORMATION The first graph entitled, "OCSD COP Rate History Report," shows the actual variable interest rates paid 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". The second bar chart entitled, "Comparative Daily COP Rate History Report," shows the performanGe 0f the District's Daily Rate COPs as compared to a i:omposite index rate, which represents the average rate of six similar variable rate daily reset borrowings. The third bar chart entitled, "COP Rate History, Comparison of Highest & Lowest Rates," compares the performance (monthly average interest rate) of the District's Daily Rate COPs with the highest and lowest monthly average rates from among six similar variable rate daily reset COPs. The table entitled, "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 maihtains_ 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 NIA CEQA FINDINGS NIA H:lwp.dtalagendalFAHRIFAHR2000\2000 Agenda Reports\FAHR00.92.doc Revi5ed: 8l20l98 Page2 ATTACHMENTS 1. Graph -OCSD COP Daily Rate History Report 2. Graph -Comparative Daily COP Rate History Report 3. Graph -COP Rate History, Comparison of Highest & Lowest Rates 4. Tabular-COP Rate History, Comparison of Monthly Averages GGS:lc H:lwp.dtalagenda\FAHRIFAH~ Agenda Reports\FAHR00-92.doc RllYised: 8/20/98 Page 3 I- C::: 0 a.. w 0::: ~ Qo I-0 ti) 0 -N :::c .. w 0::: I-w ~~ >w ..J > -0 <C z c a.. 0 0 c ti) 0 0 co "1:1' C") N -0 (%) 31 Vl::I 00-1\0N-ZZ 00-1\0N-BO oo-l:>o-sz OO-l:>O-&. &. 00-das-1.:r. oo-das-c&. oo-6n'(f-O£ oo-6n'1-9&. oo-6n'(f-ZO oo-1nr-s&. oo-1nr-so oo-unr-&.z oo-unr-Lo oo-~ew-tz oo-~ew-o&. oo-Jd'd-sz OQ-Jd"-z&. oo-Jew-sz oo-Jew-s&. oo-Jew-&.o 00-qa.:1-s&. 00-qa.:1-zo oo-uer-s&. oo-uer-so ss-:>aa-zz ss-:>aa-eo w ..... < Q Q. C1l 3 0(/) 0 c: 0 Q) NC) s: g Q..(/) ++ C') O> ~ Q) .c .Co. Q) C1l s: 3 Q)(/) .!:(.!) C1l-a..~ t+ "" O> ....,: rn :C w I-<( 0:: Qi u c IQ c ~ Cl Cl QI SD 0 N ~ c s; IQ "! Qi ~ .JI! Ci Prepared by Finance, 12/04/2000, 11 :25 AM COMPARATIVE DAILY COP RA TE HISTORY REPORT NOVEMBER, 2000 6.oo~~~~~~~~~~~~~~~~~~~~~~~~~~==~~==~~~~~~~~~~'------ 5.00-t--~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~---1 4.00 -~ ~ ~ 3.00 c( a::: 2.00 1.00 0.00 DATE en 0 0 0 0 0 0 0 0 0 0 0 en 0 0 0 0 0 0 0 0 0 0 0 ,s r::.-.Q ..: ..: >. c 3 Ci a. tf >- Q) m Q) m ~ m ::I ::i Q) 0 ~ -, 0 0 -, u. ~ -, <( en z OCSD 0 COMPOSITE INDEX G :\excel .dta\fin\2220\geggi\Fi nance\dailycopintrate .xis 4.90 4.65 COP RATE HISTORY COMPARISON OF HIGHEST & LOWEST RATES 4.40 -+------·············--·-····-······-··--· .... ·-· ............ ,., ·-···· 4.15 ---· 3.90 --··· ~ 3.65 --··· w I-~ 3.40 ---·· 3.15 -···· 2.90 ----· 2.65 ----- 2.40 -···· 2.15 ----- 1.90 I ,. •• HIGH LOW l!I Highest rate G:\excel.dta\fin\2220'{jeggl\Flnance\RA TEHIST _HILO_ bargraph D OCSD/PW 2000 LEHISCE MERL YN/IRWD • OCSD/PaineWebber LEHISCE MERLYNllRWD £J Lowest rate ·.·.·.·.· mt\ .... ·.·.· .·.· ~tr :·:-:-:-: :~:~=~=~=····--·.·.·.·.· :·:·:·:·: ::::::::; :::::::::, .. _ lil~l~\jj ::::~::::··----' ::::::::: ~=~:~:~:~ :~:~:~:~:' ..... ·.•.·.• .. · :-:·:·:-: ::::::::: .~~~~~~~~~·--... :~Jr ::::::::: .. ···· ~tt ~~\~~~~~~r --- L Prepared by Finance, 12/04/2000, 1 :08 PM Prepared by Finance, 12/04/2000, 11 :41 AM Dec-99 Jan-00 Feb-00 Mar-00 Apr-00 May-00 Jun-00 Jul-00 Aug-00 Sep-00 Oct-00 Nov-00 AVERAGE DAILY COP RA TE HISTORY COMPARISON OF MONTHLY AVERAGES DECEMBER, 1999-NOVEMBER, 2000 OCSD $218.6M $100M $98.5M $46M Series 2000 Series"A" Series"C" Series 93 Ref PaineWebber PaineWebber J.P. Morgan PaineWebber 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 4.76 4.80 4.76 4.10 4.10 4.10 3.73 3.71 3.73 3.34 3.33 3.34 3.65 3.65 3.67 3.67 4.13 4.13 3.82% I 3.33% I 3.34% I 3.45% ESTIMATED ANNUAL INTEREST PAYMENTS PER $100M PAR AMOUNT $ 3,811,000 Is 3,331,000 I$ 3,341,000 I s 3,453,000 *FOOTNOTE Composite index consists of the following COP transactions: • IRWD, Series 86-COP, 88, 95, $106.1M, Solomon Smith Barney • IRWD, Series C-Ref 93-B, 85-8, $62.1 M, Lehman Brothers • IRWD, Series 91, 93, 85, $93.0M, PaineWebber . IRWD, Series 89, C-Ref 93-A, C-Ref 95, $70.9M, Merrill Lynch Composite Index* 2.97 2.50 1.99 3.22 3.49 4.73 4.11 3.74 3.33 3.65 3.64 4.14 3.46% $ 3,459,000 • Western Riverside Co. Reg. Wastewater Auth., Series 96, $25.4M, PaineWebber • Orange Co., Irvine Coast Asst. Dist. 88-1, $94.5M, J.P. Morgan • SCE, $192M, Lehman G:\excel.dta\fin\2220\geggi\Finance\COPdaily$rate comparison FAHR COMMllTEE M~ng Date To Bd. of Dir. 12/13/00 12/20/00 AGENDA REPORT Item Number Item NumQei' FAHR00--93 Orange County Sanitation District FROM : Lisa Tomko, Director of Human Resources & Employee Development Originator: John Weingarden, Human Resources Analyst SUBJECT: EMPLOYMENT STATUS REPORT AS OF NOVEMBER 27, 2000. GENERAL MANAGER'S RECOMMENDATION Receive and file the Employment Status Report. SUMMARY Total FTE headcount at the District as of November 27, 2000 is 496.75. 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. ~ Not applicable (information item) ADDITIONAL INFORMATION The District had a full-time equivalent (FTE) headcount of 496.75 as of November 27, 2000. The actual number of employees was 507. There was one promotion during the month of November: • Jim Niswonger, Construction Inspector to Sr. Construction Inspector (Construction Management) There were two new employees hired during the month of November: • Collection Facilities Worker I (Collections) • Sr. Lab Analyst (Environmental Sciences) llradon\data1'wp,dtalagenda\FAHRIFAHR2000\2000 Agenda Repor1s1FAHR00-93.dot Revised: 8l20l98 Page 1 ALTERNATIVES Not applicable. CEQA FINDINGS Not applicable. ATTACHMENTS November 27, 2000 Employment Status Report. Performance compared to 00-01 Budget FTE's. \lradonldata1\Np.dla\agenda\FAHRIFAHR2000\2000 Agenda Report51FAHRQ0.93.dot Revised: 8l20lll8 \ Page2 Employment Status Report A B c D E F Regular Regular Regular Part-time Part-time Full-time 20 hours 30 hours Contract Intern LOA 110 -General Management Admin 3.00 0.00 0 00 0.00 0.00 0.00 General Management Totals 3.00 0.00 0.00 0.00 0.00 0.00 21 o -Finance Administration 3.00 0.00 0.00 0.00 0.00 0.00 220 -Accounting 15 00 0 00 0.00 0 00 000 0.00 230 -Purchasing & Warehousing 14 00 1 00 0.00 000 0.00 0.00 Finance Totals 32.00 1.00 0.00 0.00 0.00 0.00 310 -Communications 7 00 0 50 0.00 0 00 0.00 1.00 Communications Totals 7.00 0.50 0.00 0.00 0.00 1.00 51 o -HR & Employee Development 9 00 000 0.75 0 00 0.00 0.00 Human Resources Totals 9.00 0.00 0.75 0.00 0.00 0.00 61 o -Technical Services Admin 2.00 0 OD D.OD D 25 0.00 0.00 620 -Environmental Campi. & Mani\ 18 00 0 00 0.00 0.00 1,00 0.00 630 -Environmental Laboratory 28,00 2 50 0 00 0 00 0.00 1.00 640 -Source Control 34.00 0 00 0.00 o.oo 0,00 0.00 650 -Safety & Emergency Response 7 00 0 00 0 00 0.00 0.00 0.00 Technical Services Totals 89.00 2.50 0.00 0.25 1.00 1.00 710 -Engineering Administration 3 00 0.00 0.00 0.00 0.00 0.00 720 -Planning & Design Engineering 31 00 0 00 0.00 000 0.00 0.75 730 -Construction Management 33 00 0 50 000 0.00 0,00 0.00 Engineering Totals 67.00 0.50 0.00 0.00 0.00 0.75 420 -Collection Faciltties Mice 18 50 0 00 0.00 0.00 0.00 0,00 430 -Plant Maintenance 28 50 0 00 0 00 0 00 0.00 1.00 810-O & M Administration 2 00 0 OD 000 0 00 0.00 0,00 B20 -0 & M Process Support 9 00 0 00 0 00 0 50 0 50 0,00 830 -Plant 1 Operations 31 00 0 50 0.00 0 00 0.00 0.00 B40 -Plant 2 Operations 39 00 0 00 0.00 0.00 0.00 0.00 B50 -Mechanical Mice 43 00 0 DO 0 00 0 00 0 00 1.00 860 -Electrical & Instrumentation Mice 5400 0,00 0 00 0.00 0.00 1 00 670 -Cogeneration 9 00 0 00 0 00 0.00 0.00 0 00 BBO -Air Quality & Special Projects 9 00 0.00 0.00 o.oo 1.00 a.OD Operations & Maintenance Totals 243.00 0.50 0.00 0.50 1.50 3.00 910 -IT Admin 2 00 0 00 0.00 0.00 000 0.00 930 -Customer & Network Support 11 00 0.00 0.00 000 0.00 1.00 940 -Programming & Database Sys 9 00 0,00 0.00 0.00 0.00 0,00 950 -Process Controls Integration 9.00 0,00 0.00 0,00 0 00 0.00 Information Technology Totals 31.00 0.00 0.00 0.00 0.00 1.00 Smttlng Totals 481.ool s.ool 0.751 o.1sl 2.sol 8.75 Recruitments pending, but not offered: Offers Outstanding: Actual FTE's with current nicn.iltrnents n11e<1: •Detail on "Rec:ru~ments pending, bul not offered" shown under Current Recruttments I Description Detail on "Offers Outstanding" shown bold/shaded under Current Recruitments I Number. g:\excel.dta\hr\51 O\weingarden\Employment Status Report 11/27/2000--11:45 AM G H K Actual Current Recruitments Budget "Vacant" FTE FTE Positions Count Description Number 00-01 FY 00-01 l:(A:F) SMded nicrultments (J·G·I) below have been offered 3.00 3.00 0.00 3.00 3.00 0.00 3.00 4.00 1.00 15.00 15 00 0.00 15.00 Contraci Admin + Seer 1.50 17.50 1.00 33.00 1.50 36.50 2.00 8.50 Public Info Officer 1.00 900 -0.50 8.50 1.00 9.00 ..0.50 9.75 10.25 0.50 9.75 10.25 0,50 2.25 2.00 -0.25 19.00 19,00 0.00 31.SO Intern a.so 3200 0.00 34.00 34.00 0.00 7.00 7.50 0.50 93.75 0.50 94.50 0.215 3.00 300 0.00 31.75 EDMS &GIB Tech• 2.00 34.25 0.50 33.50 36.00 2.50 68.25 2.00 73.25 3.00 18.50 1B.50 0.00 29.50 29.50 0.00 2.00 2.00 0.00 10.00 9.50 -0.50 31.50 Ope rat~ 1.00 33 00 0.50 39.00 3B,50 -0.50 44.00 44.50 a.so 55.00 55.50 ii.So 9.00 PPO 1.00 9.00 ·1.00 10.00 10.50 0.50 248.50 2.00 250.50 0.00 2.00 2.00 0.00 12.00 12.00 0.00 9.00 10.00 1.00 9.00 9.00 0.00 32.00 33.00 1.00 496.75 7.00 . 510.00 6.25 5_00 * 2.00 ~~ 503.75 • Only the EDMS Tech position has been offered. Performance to Staffing Plan 520-r-~~~~~~~~~~~~~~~~~~~~~~~ --·---·-·---·-·-·-·-·-·-·-·-·-·-·-·-·--· 515-;-~~~~~~~~~~~~~~~~~~~~~~~~~ 510-;--~~~~~~~~~~~~------.,-~~---~~----.,-~~~~~ 505-;--~~~~~~~~~~~~~~~~~~~~~~~~~ 500---~~~~~~~~~~~~----.,-~~_,_c--~~~~~~~~ 495L~~~_!:::~~~~L_~~~~~~~~~~~~~ 49oL~~~~~~~~~~~~~~~~~~~~~- 485 • ~EHMd~u~ --• --Staffing Plan 4soL.--r--i-.---r-.--.----.----.--.-~.-,--,-----.-,----.-~~~~~~~ J AS 0 ND J F MAM J J AS 0 ND J FM AM J J [Fv99-oo-I I FY 00-01 l FAHR COMMITTEE Meeting Date To Bel. of Dir. 12/13/00 N/A AGENDA REPORT Item Number Item Number Orange County Sanitation District FROM: Marc Dubois, Contracts I Purchasing Manager SUBJECT: GENERAL MANAGER APPROVED PURCHASES GENERAL MANAGER'S RECOMMENDATION FAHR00-94 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 Olivia Chen Consultants $72,680.00 Consultant for Benchmarking Study Garig Equipt. & Maintenance $80,667.10 8.5 ton Crane -Shuttlelift Kronos, Inc. $98,633.00 Timekeeping Software South Coast Environmental Co. $75,000.00 PEMS Testing for CGS Engines Section 2.03 A.1 of Resolution 99-23, the District's Delegation of Authority Resolution, authorizes the General Manager to purchase items that have been previously authorized by the Board as identified in the annual District budget. 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 N/A 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) H:lwp.dla\agenda\FAHRIFAHR2000l2000 Agenda Reports\FAHR00.94.doc Rllllised: 8l'20l98 Page 1 ADDITIONAL INFORMATION N/A ALTERNATIVES NIA CEQA FINDINGS N/A ATTACHMENTS None. H:\wp.dlalagenda\FAHR\FAHR20002000 Agenda Repor1s\FAHR00-94.doc Revised:8/20/98 Page2 FAHR COMMITTEE Meeting Date To Bd. of Dir. 12/13/00 12/20/00 AGENDA REPORT Item Number It.em Number FAHR00-95 Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources and Employee Development Originator: Janet Gray, Human Resources Assistant SUBJECT: CHANGES AND ADDITIONS TO HUMAN RESOURCES POLICIES AND PROCEDURES AS AUTHORIZED BY RESOLUTION 98-33. GENERAL MANAGER'S RECOMMENDATION Adopt Resolution No. OCSD 00-XX, 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. (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 Policy Number From And Subiect C10.00-Classifications, Positions, Current Language. Salary Ranges & Wages w/ Exhibit 'A' 010.00-Leave-of-Absence with Pay Current Language. 030.00 -Holiday$ Current Language. 060.00 -Benefits Option Plan (BOP) Current Language. H:lwp.dta\agenda\FAHRIFAHR200C112000 Agenda Reports\FAHR00.95.doc Created on 12I05/00 9:16 AM To Revised Language. Revised Language. Revised Language. No Language. Reason ForChanqe Per the negotiated SPMT MOU regarding changes to the llS benefit. Per the negotiated SPMT MOU. Indicates eligibility for Floating Holidav accrual. Benefit eliminated per the negotiated SPMT MOU. ALTERNATIVES NIA CEQA FINDINGS NIA ATTACHMENTS 1. C10.00 -Classifications, Positions, Salary Ranges & Wages wlExhibit 'A' 2. 010.00 -Leave-of-Absence With Pay 3. 030.00 -Holidays H:\wp.dta\agenda\FAHRIFAHR2000.2000 Agenda ReportslFAHR00-95.doc Creall'ld on 12/05/00 9:16 AM Orange County Sanitation District Subject: CLASSIFICATIONS, POSITIONS, SALARY RANGES AND WAGES 1.0 PURPOSE Policy Number: C10.00 Effective Date: Supersedes: Approved by: May 24 9 2000 December 20, 2000 N9U9Alb9r 17 1 1gQg May 24, 2000 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 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. Page 1 4.3 Employees in the Executive Management and Management Groups ar.e awaraed merit increases based upon their performance, as determined by the performance evaluation program and the position of their salary relative to the external market. External market rates are determined throu9h the use of salary surveys. The merit increase may be distributed as base building or non-base buflding. 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 policy or any prior Board action, the General Manager is authorized to periodically adjust the rate of compensation of Executive Management employees who have signed "at-will" agreements so long as no adjustment exceeds the compensation permitted by the applicable salary range established by the ~ 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 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. Classification study requests must be submitted to Human Resources no later than October 101h for the November cycle. 4. 7.1 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 sha'll provide an investment incentive salary to the employees within the classifications and in the amounts, as set forth in Section 4.8.1, which amounls are based on a percentage of salary equal to the amount previously paid to designated employees pursuant to District Policy No. C150.00, 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 classifications-6% (up to a maximum IRS amount) Division management , Supervisory, Professional and EXempt Confidential classifications ~4% · ·· · PrnfQssigi:ial ai:id Non exempt Confidential classifications -3% Page 2 4.8.2 Employees in the Professio'hal, Supervisory, Divisic>n management and Exempt Confidential classifications shall receive additional investment incentive salary at a flat rate of $48.08 per pay period. 5.0 PROCEDURE 5.1 Executive Management, Management, Supervisory, Professional and OCEA Group Employees 5.1.1 New Employees. Employees shall be offered a salary based upon ~ nedr the r:r:iiniR1t.1R1 gf the N1n9e ~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 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 Performance Review Program. An annual performance review is completed for all employees 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 hire; or promotion in those instances where the individual has not concluded probation as of July 1. 5.1 .3 Promotional Increases. Employees who earn promotions to a higher pay range 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 relationship 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 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. 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 Page 3 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 tfle 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 Page 4 Orange County Sanitation District Classifications by Employee Group Confidential Pay Hourly Monthly Annual Hourly Monthly Annual Range Minimum Minimum Minimum Maximum Maximum Maximum Classifications FLSA Status Exempt E11 30.124 5,221 $62,658 42.618 7,387 $88,645 I Human Resources Supervisor ----~-~er:nJ>t ..... E9 27.338 4,739 $56,863 38.702 6,708 $80,500 Senior Human Resources Analyst Exempt ---~-.--~ ---· ------·-----·---_,,,_,,, __ ------- E5 22.481 3,897 $46,760 31.798 5,512 $66,140 'Human Resources Analyst Exempt . --------... --, -------·-!HRIS Analyst ··--·--. E5 22.481 3,897 $46,760 31.798 5,512 $66,140 Exempt ---·---·-·-----~-----Nonexempt NE7 20.947 3,631 43,570 28.370 4,917 59,010 I Executive Assistant II -·-.-~!2:E~':~P! NE6 19,065 3,305 39,655 25.830 4,477 53,726 Administrative Assistant _Non-Exempt NE6 19.065 3,305 39,655 25.830 4,477 53,726 ; Human Resources Assistant Non-Exempt NE6 19.065 3,305 39,655 25.830 4,477 53,726 Principal Accounting Clerk Non-Exempt NE2 14.757 2,558 30,695 19.956 3,459 41,508 ·Office Specialist Non-Exempt --· --------------·---------------~-- Orange County Sanitation District Subject: LEAVE-OF-ABSENCE WITH PAY 1.0 PURPOSE Policy Number: 010.00 Effective Date: 0Gtob&r 25, .2000 .. : 0r•: .-;,~ :_ · .. ·i '~; 5 ~ -. . ---. -. -- Supersedes: April 2i, 2000 Approved by: 1.1 The purpose of this policy is to establish uniform guidelines and procedur~s for use in the administration of the District's leave-of-absence with pay program. 2.0 ORGANIZATIONAL UNITS AFFECTED 2.1 All District's employees. 3.0 DEFINITIONS 4.0 POLICY 4.1 Vacation Leave. Except as otherwise provided, regular full-time employees accrue vacation leave, in accordance with the following schedule: Years of Service Hours-Biweekly Hours-Annually In years 0 through 1 3.08 80 In years 2 through 4 3.08 80 In years 5 through 10 4.62 120 In year 11 4.93 128 In year 12 5.24 136 In year 13 5.54 144 lnyear14 5.85 152 In year 15 and over 6.16 160 4.1.1 Vacation leave begins to accrue after a new employee has completed six months of continuous service. After the first six months of service, the employee's account will be credited with 40 hours. After that time, the employee will accrue vacation hours consistent with the above chart. Vacation leave may only be utilized in increments of one-half hour or more. Vacation leave is accrued for all paid hours, including hours actually worked and hours in a paid-leave payroll status. A full-time, regular employee will be granted pro rata vacation leave credit during any pay period in Page 1 of 8 which he/she is absent without pay for one ( 1) full working day. A part-time, regular employee will not be granted vacation leave credit during any period he/she is absent without pay on his/her regular working day. Employees may have a maximum accumulation of 200 hours as of the last day of the final pay period in December of each year. In the event an employee accrues vacation leave in excess of 200 hours, it must be used prior to said December date, all other remaining hours in excess of 200 will be paid to the employee in the first pay period in January at the employee's then current hourly rate of compensation. 4.2 Sick Leave. Sick leave is an insurance or protection provided by the District to be granted to employees in circumstances of adversity to promote the health and welfare of the individual employee. It is not an earned right to take time off from work. Sick leave is defined as the absence from duty of an employee because of a bona fide illness, injury, or pregnancy, or to attend to the illness or injury of a family member as hereinafter defined. Temporary employees are not entitled to sick leave benefits. 4.2.1 Sick-Leave Accrual. Full-time employees hired prior to November 27, 1981, accrue paid sick leave at the rate of three and one-half (3.5) hours for each biweekly pay period of continuous service (ninety-one (91) hours per year). Full-time employees hired on or after November 27, 1981, accrue paid sick leave at the rate of three (3.0) hours for each biweekly pay period of continuous service (seventy-eight [78] hours per year), beginning with the first day of employment. 4.2.2 Sick-Leave Credit. A full-time, regular employee shall be granted pro rata sick-leave credit during any pay period in which he/she is absent without pay. A part-time, regular employee shall not be granted sick-leave credit during any period he/she is absent without pay on his/her regular working day. In the event an employee is required to work part-time by direction of his/her physician, sick-leave credit shall be prorated, except that sick leave shall continue to accrue if an employee is absent due to an injury arising out of or in the course of his/her employment and is entitled to Workers' Compensation benefits. 4.2.3 Annual Payoff. Employees may elect annually to be paid for any unused sick leave hours accrued through the end of October at their current hourly rate according to the following payoff schedule or as specified in a Memoranda of Understanding. Accrued Sick Leave Hours Rate of Payoff 0-100 0% 101-240 25% 241-560 35% Over 560 (mandatory) 50% 4.2.4 Sick Leave Incentive Plan. The Sick Leave Incentive Plan applies to Executive Management, Management, Supervisory and Professional Groups. The Plan will be administered on an individual Group basis. If the average sick leave usage of employees in a Group is under 40 hours per year, calculated on annualized actual time off during the period from January 1 to December 31 exclusive of catastrophic illness or injury requiring absence in excess of 200 hours or industrial injury leave in excess of 80 hours, the annual payoff for unused sick leave will be as follows: Page 2 of8 Accrued Sick Leave Hours Rate of Payoff 0-100 101-240 241-560 Over 560 (mandatory) 4.2.5 Employees who separate for any reason other than retirement or death shall be compensated for any accrued and unused sick leave according to the ~a· •• · schedule. Employees who retire or decease shall be paid at the fifty percent (50%) rate for all accrued and unused sick leave 4.2.6 Permissible Uses. Sick leave may be applied only when: a. The employee is physically or mentally unable to perform his or her normal functions due to illness, injury, or a medical condition. b. The absence is for the purpose of obtaining professional diagnosis or treatment for a medical condition of the employee or the absence is due to medical and dental office appointments of an employee when approved by the employee's supervisor. c. The absence is for other medical reasons of the employee, such as pregnancy or obtaining a physical examination. d. The absence is for the care of the employee's parent, father-in-law, mother-in- law, brother, sister, spouse, child, step-child, grandchild, grandparent, legal guardian, or any family member with whom the employee resides. e. The absence is due to a job-related injury. f. In accordance with Labor Code Section 233, the absence is because the employee's presence is needed to attend to an illness of a parent (biological, foster or adoptive), step parent, legal guardian, spouse, child (biological, foster or adopted), step child, legal ward or a child of a person standing in loco parentis, provided that no more than the amount of sick leave that would accrue to the employee during six (6) months at the employee's then current rate of accrual shall be applicable to this type of sick leave in each calendar year. 4.2.7 General Provisions. To qualify for sick-leave pay, the employee must notify the District at or in advance of the time the employee is scheduled to report for duty. Minimum charge to the employee's sick-leave account shall be one-half (.5) hour and thereafter in one-half (.5) hour increments. 4.2.8 Human Resources shall be responsible for control of abuse of the sick-leave privilege. If notified in advance by a manager or supervisor, the employee may be required, at any time, to furnish a certificate issued by a licensed physician or nurse, or other satisfactory evidence of illness; however, for absences of ten (10) consecutive working days or more, a request for leave and a medical statement, on prescribed forms, stating expected date of return must be submitted to Human Resources. Upon return to work, a written doctor's release must be submitted to Human Resources. For absences of one or more working days in an unpaid status, a request for leave and a medical statement, on prescribed forms, stating expected date of return must be submitted to Human Resources. Page 3 of8 4.2.9 If the need for leave is due to the employee's serious health condition, as defined in the Family and Medical Leave Act ("FMLA") or the California Family Rights Act ("CFRA"), the certification requirement shall comply with provisions of these Acts. 4.3 Personal Leave. Personal leave is provided to allow employees time off with pay for vacation, personal business and non-job-related illness or injury. Personal leave is accrued by full-time employees for all paid hours, including hours actually worked and hours in a paid-leave payroll status, on a biweekly basis as follows: Personal Leave Hours Biweekly Annual Years of Service O through 1 2.31 80* 2 through 4 5.38 140 5 through 10 6.92 180 11 7.23 188 12 7.54 196 13 7.85 204 14 8.15 212 15 and over 8.46 220 *Only 60 hours may be taken in the first year; the 20 additional hours shall be credited to the accrual balance following successful completion of one year's service. 4.3.1 Scheduled Time Off. Management shall make a reasonable effort, considering the operational needs of the District, to accommodate all employee requests for time off. Scheduled time off should normally be requested at least two weeks in advance to increase the likelihood of those dates being approved. However, in the event unforeseen circumstances prevent such advance notification, employees may request scheduled time off with as little as one day's notice. Employees with at least one year's service must request at least 40 hours off each year. Preference among employees who request time off at least six months in advance shall be based on seniority. Requests received less than six months in advance shall be scheduled in the order received. Personal leave may only be reported in one-half-hour or one- hour increments. 4.3.2 Unscheduled Time Off. Personal leave that is classified as unscheduled time off provides income protection to an employee who is unable to work due the following: a. The employee is physically or mentally unable to perform his or her normal functions due to illness, injury, or a medical condition. b. The absence is for the purpose of obtaining professional diagnosis or treatment for a medical condition of the employee or the absence is due to medical and dental office appointments of an employee when approved by the employee's supervisor. c. The absence is for other medical reasons of the employee, such as pregnancy or obtaining a physical examination. d. The absence is for the care of the employee's parent, father-in-law, mother-in- law, brother, sister, spouse, child, step-child, grandchild, grandparent, legal guardian, or any family member with whom the employee resides. Page 4 of8 e. The absence is due to a job-related injury. f. In accordance with Labor Code Section 233, the absence is because the employee's presence is needed to attend to an illness of a parent (biological, foster or adoptive), step parent, legal guardian, spouse, child (biological, foster or adopted), step child, legal ward or a child of a person standing in loco parentis, provided that no more than the amount of sick leave that would accrue to the employee during six (6) months at the employee's then current rate of accrual shall be applicable to this type of sick leave in each calendar year. Unscheduled time off must be accounted for by completion of an Unscheduled Time Off Report upon the employee's return to work. Employees may be required to submit medical documentation for their injury or illness. It is the responsibility of District's management to control the potential abuse of unscheduled time off privileges. Tardiness less than 15 minutes shall not be deducted from the employee's pay, but numerous occurrences will be addressed through the progressive discipline procedures. Tardiness of one hour or more shall be considered an unscheduled occurrence. 4.3.3 An employee's attendance record shall be reviewed with an employee after five separate occurrences of unscheduled time off to provide an opportunity to assess problems that could potentially lead to disciplinary action. The accumulation of the sixth and seventh occurrence within a calendar year shall result in a verbal warning. The eighth occurrence shall result in a written warning. Employees who are charged with ten occurrences of absence within a twelve-month period shall be subject to termination. Absences of multiple consecutive days involving the same injury or illness shall be considered a single occurrence. The District also has the right to discipline employees on the basis of total absences away from work. Employees must notify their supervisor prior to the start time of their shift when they are unable to report for work. Employees returning from an extended leave should notify their supervisor as soon as possible to facilitate personnel scheduling. 4.3.4 Human Resources shall be responsible for control of abuse of the unscheduled leave privilege. The employee may be required, at any time, to furnish a certificate issued by a licensed physician or nurse, or other satisfactory evidence of illness; however, for unscheduled absences of ten (10) consecutive working days or more, a request for leave and a medical statement, on prescribed forms, stating expected date of return must be submitted to Human Resources. Upon return to work, a written doctor's release must be submitted to Human Resources. For absences of one or more working days in an unpaid status, a request for leave and a medical statement on prescribed forms, stating expected date of return must be submitted to Human Resources. 4.3.5 Personal Leave and Workers' Compensation Leave. Employees who are injured in the course of their employment are placed on Workers' Compensation Leave, and receive wage loss benefits to which they are entitled under the Workers' Compensation Act. Employees may request to receive prorated Personal Leave pay to supplement their Workers' Compensation payments in an amount such that the sum of both is equal to the employee's regular base pay. 4.3.6 Personal Leave Payoff. Employees (or their estate) who separate, retire or die shall be paid in full at their current rate of pay for all Personal Leave hours accrued. 4.3.7 Maximum Accrual. Employees may only accrue up to 400 hours of Personal Leave as of the last day of the final pay period in December of each year. Employees may request to be paid in full for up to 40 such hours in excess of the 400 limit; any remaining time shall be scheduled off by the District. Page 5 of8 4.3.8 Sick Leave Bank. Employees who elect to bank sick leave accrued prior to the implementation of Personal Leave provisions may elect to use such time off for absence due to illness or injury once 40 continuous hours of Personal Leave have been used. (The 40 hour stipulation does not extend to employees in the Confidential Group). Employees who retire or die shall be paid at the 50 percent rate for all Banked Sick Leave hours; an employee who separates shall be compensated for Banked Sick Leave as follows. Banked Sick Leave Hours Rate of Payoff 0 -100 0 percent 101-240 25 percent 241 -560 35 percent Over560 50 percent 4.3.9 If the need for leave is due to the employee's serious health condition, as defined in the Family and Medical Leave Act ("FMLA") or the California Family Rights Act ("CFRA"), the certification requirement shall comply with the provisions of these Acts. 4.4 Jury Duty Leave. Any full-time, including probationary, employee who is called for jury duty shall, upon request on prescribed forms approved by Human Resources, be entitled to his/her regular pay for those hours of absence due to performance of the jury duty for a period up to twenty-two (22) working days, provided that his/her fees for such service, exclusive of mileage, are submitted to the District for deposit in the General Fund of the District. 4.4.1 Prior to jury duty service, each employee must complete the District's Leave-of- Absence Form and turn it in to Human Resources with a copy of the summons. To be entitled to receive regular pay for such jury leave, employees must report for work during their regularly scheduled work shift when they are relieved from jury duty service, unless there is less than one-half(%) of their regular shift remaining. Employees are not compensated for jury duty occurring on scheduled days off. 4.4.2 An employee serving jury duty must obtain an attendance slip from the court to be submitted to Payroll with his/her time sheet in order to be eligible for regular pay for those hours of absence due to jury duty. 4.5 Witness Leave. Any full-time, including probationary, employee, who is required to be absent from work by a subpoena properly issued by a court, agency or commission legally empowered to subpoena witnesses, which subpoena compels his/her presence as a witness, except in a matter wherein he/she is named as a defendant or plaintiff or as an expert witness, shall, upon request on Leave-of-Absence Forms approved by Human Resources, be entitled to the time necessary to comply with such subpoena, provided any fees received for such service, exclusive of mileage, are submitted to the District for deposit in the General Fund of the District. 4.5.1 An employee so subpoenaed must submit a copy of the subpoena with his/her time sheet in order to be eligible for pay for such absence. To be entitled to receive regular pay for such witness leave, the employee must report for work at the District for time not actually retained on witness service of one ( 1) hour or more prior to and/or upon completion of each day's service, exclusive of travel time. Page 6 of8 t 4.6 Military Leave. A request for military leave shall be made upon Leave-of-Absence Forms approved by Human Resource and shall state the date when it is desired to begin the leave-of-absence and the date of anticipated return. A copy of the orders requiring such military service shall be submitted with the request. 4.6.1 Provisions of the Military and Veterans Code of the State of California, Sections 395- 395.5 shall govern military leave. In general, current law provides that an employee having one year or more service with a public entity is entitled to military leave with pay not exceeding thirty (30) days per year if the employee is engaged in military duty ordered for purposes of active military training or encampment. An employee who is required to attend scheduled service drill periods or perform other inactive duty reserve obligations is entitled to military leave without pay, not exceeding seventeen (17) calendar days per year, although the employee may, at his or her option, elect to use vacation or personal leave time to attend the scheduled reserve drill periods or to perform other inactive drill period obligations. Employees who participate in weekend military drill duty are not eligible for leave with pay for such activity, but may have their regular work schedule changed to accommodate the required time off. 4.7 Bereavement Leave. Using the prescribed forms, approved by Human Resources, any full-time employee, whether probationary or regular, shall receive a maximum of three (3) days off with pay for the death or funeral of an immediate family member. Immediate family member is defined as the employee's father, father-in-law, mother, mother-in-law, brother, sister, husband, wife, child, step-child, step parent, grandchild, grandparent, legal guardian, or any family member with whom the employee resides or who is identified in the employee's memorandum of understanding (MOU), if applicable. 5.0 PROCEDURE 6.0 EXCEPTIONS Section 4.1, Vacation, including Subsections 4.1 .1, of this policy does not apply to employees covered under the provisions of Personal Leave in the Operations and Maintenance Memorandum of Understanding and employees in the Confidential Group. Section 4.2, Sick Leave, including Subsections 4.2. 1 through 4.2.8, of this policy does not apply to employees covered under the provisions of Personal Leave in the Operations and Maintenance Memorandum of Understanding and employees in the Confidential Group. Section 4.3, Personal Leave, including Subsections 4.3.1 through 4.3.9, of this policy applies only to those employees covered under the provisions of Personal Leave in the Operations and Maintenance Memorandum of Understanding and employees in the Confidential Group. Vacation leave is not accrued for overtime hours worked. Accrued balances of vacation leave, compensatory leave, and personal leave may be cashed out at the employee's request on an annual basis in December of each calendar year. 7.0 PROVISIONS AND CONDITIONS 7.1 Employees may have a maximum accumulation of 200 hours of vacation as of the last day of the final pay period in December of each year. 7.2 In the event an employee accrues vacation leave in excess of 200 hours, it must be used prior to the December date, all other remaining hours in excess of 200 will be Page 7 of8 paid to the employee in the first pay period in January at the employee's then current hourly rate of compensation. 7.3 Employees are not eligible to schedule vacation leave until the completion of six months continuous service. 7.4 Employees may not maintain a negative balance on vacation, sick, compensatory, or personal leave accruals. 8.0 RELATED DOCUMENTS 8.1 Operations and Maintenance MOU 8.2 Administrative and Clerical MOU 8.3 Engineering MOU 8.4 Technical Services MOU 8.5 Supervisory MOU 8.6 Professional MOU 8.7 Personal Leave Unscheduled Time Off Report Form Page 8 of8 ~ Orange County Policy Number: D30.00 ~ Sanitation District Effective Date: O~iQb&F ~51 ~QQQ pec~er ~O, 20!1_0 Subject: HOLIDAYS Supersedes: April 28, 2000 October 25~000 Approved by: 1.0 PURPOSE 1.1 The purpose of this policy is to establish uniform guidelines and procedures for holidays. 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 to grant employees 12 paid holidays per year in accordance with this policy. 5.0 PROCEDURE 5.1 Full-time employees shall receive holiday pay if their entire scheduled work shift immediately preceding and following the holiday is in a paid payroll status. When an employee's work schedule requires that they work on an observed holiday, the employee shall be paid at the employee's regular rate of pay for the holiday or receive an equivalent amount of holiday compensatory time off, and shall also receive overtime pay at the rate of one-and-one-half times their regular hourly rate for all hours actually worked. 5.2 Holiday pay for part-time employees is based on a nine (9) hour workday. It is paid on the following prorated basis: NORMALLY SCHEDULED HOURS OF WORK PERCENT BENEFIT/SUBSIDY PER WEEK 0-under 19 None 20-under 29 50% -(4.5) hours 30-39 75% -(6.75) hours Page 1 of3 5.3 When a holiday occurs on an employee's regularly scheduled day off, the employee will accrue compensatory time off for those hours. In no case may an employee accumulate more than 50 hours holiday compensatory time off. 5.4 The days listed below are observed by the District as holidays for 2000, 2001 and 2002. SCHEDULE A HOLIDAY 2000 2001 2002 New Year's Day Friday, December 31 Monday, January 1 Tuesday, January 1 Lincoln's Birthday Friday, February 11 Monday, February 12 Tuesday,February12 President's Day Monday, February 21 Monday, February 19 Monday, February 18 Memorial Day Monday, May 29 Monday, May 28 Monday, May 27 Independence Day Tuesday, July 4 Wednesday, July 4 Thursday, July 4 Labor Day Monday, September 4 Monday, September 3 Monday, September 2 Veteran's Day Friday, November 10 Monday, November 12 Monday, November 11 Thanksgiving Day Thursday, November 23 Thursday, November 22 Thursday, November 28 Day after Thanksgiving Friday, November 24 Friday, November 23 Friday, November 29 Day before Christmas Monday, December 25 Monday, December 24 Tuesday, December 24 Christmas Day Tuesday,December26 Tuesday, December 25 Wednesday , December 25 Floating Holiday ** ** ** SCHEDULE B HOLIDAY 2000 2001 2002 New Year's Day Saturday, January 1 Monday, January 1 Tuesday, January 1 Lincoln's Birthday Saturday, February 12 Monday, February 12 Tuesday, February 12 President's Day Monday, February 21 Monday, February 19 Monday, February 18 Memorial Day Monday, May 29 Monday, May 28 Monday, May 27 Independence Day Tuesday, July 4 Wednesday, July 4 Thursday, July 4 Labor Day Monday, September 4 Monday, September 3 Monday, September 2 Veteran's Day Saturday, November 11 Sunday, November 11 Monday, November 11 Thanksgiving Day Thursday, November 23 Thursday, November 22 Thursday, November 28 Day after Thanksgiving Friday, November 24 Friday, November 23 Friday, November 29 Day before Christmas Sunday,December24 Monday, December 24 Tuesday, December 24 Christmas Day Monday, December 25 Tuesday, December 25 Wednesday , December 25 Floating Holiday ** ** ** Page 2 of3 6.0 EXCEPTIONS 6.1 When an employee is on medical or pregnancy leave, holidays will be paid only during disability waiting period if employee is in a continuous paid status. All other holidays that occur outside the waiting period will not be paid, regardless if employee is in paid status or not. 6.2 Part-time employees who work on a holiday are not eligible to receive overtime pay. 7.0 PROVISIONS AND CONDITIONS 7.1 If a regularly scheduled holiday occurs on a Saturday, the previous Friday shall be taken off as the "holiday" for pay purposes. If a regularly scheduled holiday occurs on a Sunday, then the following Monday shall be taken off as the "holiday" for pay purposes. 8.0 RELATED DOCUMENTS Page 3 of3 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation D1stnct FROM: Gary G. Streed, Director of Finance Originator: Brad Cagle, Accounting Manager Meeting Date 12/13/00 Item Number FAHR00-96 SUBJECT: Consideration of Budget Assumptions, Fiscal Policy Statements, and Budget Calendar for Preparation of the 2001-02 Budget GENERAL MANAGER'S RECOMMENDATION Approve the 2001-02 Budget Assumptions, Fiscal Policy Statements, and Budget Calendar, and direct staff to prepare the 2001-02 budget incorporating these parameters. SUMMARY Each year the FAHR Committee establishes the Budget Assumptions and Fiscal Policy Statements that staff incorporates and publishes in the annual budget. PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT D This item has been budgeted. (line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. [8J Not applicable (information item) ATTACHMENTS Enclosed are a draft of the Budget Assumptions, Fiscal Policy Statements, and a budget calendar. Staff will make a brief presentation at the Committee meeting. To Bd. of Dir. 12/20/00 Item Number H:\wp.dtalagenda\FAHRIFAHR200C7a000 Agenda Reports\FAHR00-96.doc Revised: 1/5198 Page 1 2000-01 Preliminary Budget Assumptions Economic Assumptions • Inflation for Orange County in 2001-02 is projected to be 3.0 percent based on the 2000 projected percentage change in consumer price index obtained from the November 2000 Economic and Business Review report prepared by Chapman University. Revenue Assumptions • The Board of Directors adopted a five- year user fee rate schedule in May of 1997, affirmed during the consolidation in July, 1998, that provide for annual rate increases through 2001-02. During 1999 the rates were consolidated and reduced in many areas. For next year the rate for a single-family residence is projected to be $80 district wide. The annual sewer service fee increase for single family residence ranges from 2.6 percent to 9.6 percent, or $2.00 to $7.00, over the prior year. Multi-family and non-residential service fees will increase proportionately. These increases are estimated to generate a net increase in total user fees of $2,517,000. • Connection fees, or capital facilities capacity charges, were re-evaluated as part of the strategic plan update and a methodology and schedule was adopted in 1999. Because the charges are based upon the strategic plan CIP and 2020 flow projections, the rates will not be changed until the strategic plan is revisited. Revenues will be budgeted conservatively to reflect actual flow increases, presumably from new connections that are below the strategic plan projections. • Annexation fees will be evaluated during the second half of 2000-01 and a proposal submitted to the Board. 16 Bu dget Ass um ptions Preliminary budget estimates will not include annexation fees as the timing of development is unknown, trends are good indicators of the future and the dollar amounts are minimal. • Property tax revenues in 2001-02 are being proposed at a conservative 5.0 percent increase as the Assessor's office has previously readjusted upward those property values decreased by appeal during the real estate recession. • Earnings on the investment of the District's operating cash and reserves will again be budgeted at 6.25 percent. Staff will consult with PIMCO to get better estimates for the next year's rate of return on investments, but history supports 5.75 to 6.75 percent for the long-term portfolio and 5.50 to 6.50 percent for the liquid portfolio. Operating Assumptions • Joint works operating, maintenance and administration cost estimates for 2001- 02, will be based on FY 2000-01 approved budget with anticipated increases in: )-Natural Gas )-Power )-Chemicals )-Staffing Increases )-Inflation (CPI 3.0%) )-Bio-Solids Disposal )-Plume Investigation Results )-Performance Based Salary Increases • The cost to treat and dispose of 1 million gallons of wastewater is estimated to be $ __ , an increase of __ percent ·· from the 2000-01 estimate of $514.40 per million gallons. Total wastewater flows for 2001-02 are expected to decrease to 250 million gallons per day (mgd) from the 255 mgd actual for the first 4 months of 2000-01. This is a 2.0 percent increase from the 2001-02 Budget Manual 2000-01 budgeted average flow of 245 mgd, and is 33 mgd below the strategic plan estimate of 283 mgd used in capital planning. It is important to note, however, that much of our planned construction relates to rehabilitation and upgrades and is not a result of flows. • Total staffing will follow the guidelines of the new five-year staffing plan. Completion of the new five-year staffing plan and presentation to Board for approval is expected in February 2001, based on a very detailed business plan that includes an analysis of the resource needs of each of our business units (i.e. Contracts/purchasing, Ocean Monitoring, Sewer Design, Fleet Services, Plant 1 Night-shift Operations, and more). An increase from the 2000- 01 budget of 510 full time equivalents (FTE) is anticipated. Once the increases have been identified, Financial Planning will incorporate the vacancies into staffing budget and the line-item budget. • Cost of living salary increases and performance based incentive increases for all employee groups have been estimated based upon the recently concluded MOUs. Financial Planning will incorporate increases based upon these MOUs into the line-item budget. • The proposed joint operating budget will continue to reflect an emphasis on safety, technical, and management training. The proposed 2001-02 budget will again include a budget for training and meetings equal to two percent of salaries and wages. In addition, funds will be set aside for DART and other specific re-invention initiatives with short-term and substantial training needs. • An amount equal to one percent of the joint operating budget will be a contingency for prior year 17 reappropriations. Since the current year's budget lapses on June 30 of each year, a contingency is needed in the succeeding budget for goods or services ordered at the end of one budget year but not delivered until the following year. Reserve Assumptions • The five-year sewer service rate schedule adopted in May 1997 was established at a level that will be sufficient to maintain compliance with the Districts current reserve policies. • The current reserve policy was reviewed in conjunction with the strategic plan update and was revised accordingly beginning in fiscal year 1998-99. Capital Improvement Program Assumptions • The treatment plant and collection system capital improvement budget will be proposed not to exceed a ceiling that reflects the Strategic Plan Update, the 2000-01 cash flow projections and our capacity to do the work. We expect an increase above the 2000-01 cash flow budget of $83.5 million because we will substantially increase our capacity to design and construct the capital improvements identified in the 1999 Strategic Plan. Our estimate will be refined as the process continues and current year actual outlays are known. Debt Financing • The Districts will issue new debt (to be determined by CIP needs) as Certificates of Participation for the Capital Improvement Program in early 2001-02. This is in accordance with the five-year debt issuance schedule approved as part of the 1997-98 Sewer Service User Fee adoption process and the long-standing policy of 50 percent debt financing and 50 percent pay as you go. Fiscal Policy Statement General Financial Goals To maintain a financially viable Sanitation District that can maintain an adequate level of wastewater treatment Completed services. ./ To maintain financial flexibility in being able to adapt to local and regional economic changes. ./ To maintain and enhance the sound fiscal condition of the District. ./ To ensure that the value added of every program and activity within the District is proportional to its cost; and eliminate tMose programs and activities that do not contribute to the District's mission. ./ To provide training opportunities for available jobs within the organization for those employees working in programs or activities that have been reduced or eliminated to the greatest extent possible. ./ To provide employees with cross-training opportunities in order to achieve multi-tasking capabilities. ./ Operating Budget Policies The District will adopt a balanced budget by June 30 of each year. ./ The budget will be used as a fiscal control device as well as a financial plan. ./ Budget preparation and monitoring will be performed by each division within the District, the level at which accountability and control will be held. ./ The Director of Finance will prepare a budget calendar no later than January of each year. ./ An annual operating budget will be developed by conservatively projecting revenues and expenditures for the current and forthcoming fiscal year. ./ During the annual budget development process, the existing programs will be thoroughly examined to assure removal or reduction of any services or programs that could be eliminated or reduced in cost. ./ Section 3 -Page 1 Fiscal Policy In Progress Comments 2001-02 Budget Fiscal Policy Statement Completed In Progress Current operating revenues will be sufficient to support current operating expenditures. ./ Annual budgets including reserves will provide for adequate design, construction, maintenance and replacement of District capital plant and equipment. The District will maintain all physical assets at a level adequate to protect the District's capital investment and to minimize future maintenance and replacement costs. The District will project equipment replacement and maintenance needs for the next five years and will update this projection each year. From this projection a maintenance and replacement schedule will be developed and followed. The District will avoid budgetary and accounting procedures that balance the current budget at the expense of future budgets. The District will forecast its Joint Works' expenditures and revenues for each of the next five years and will update this forecast at least annually. Revenue Policies Because revenues are sensitive to both local and regional economic conditions, revenue estimates ./ adopted by the Board of Directors must be conservative. ./ Staff will estimate annual revenues by an objective, analytical process that utilizes trend, judgmental, and statistical analysis as appropriate. ./ Ad valorem property tax revenues of the District will be dedicated to debt service. Sewer Service User Fees will be projected for each of the next five years and this projection will be updated annually. Expenditure Policies The District will maintain a level of expenditures that provides for the health, safety and welfare of the residents of the community. ./ ./ ./ Section 3 -Page 2 Comments Five-year fee schedule from 1997 -98 has been modified through 2001-02. Fiscal Policy Fiscal Policy Statement Completed In Progress Comments The District will set fees and user charges at a level that fully supports the total direct and indirect costs of operations, capital improvements, and debt service requirements not covered by reserves. ./ Capital Improvement Budget Policies The District will make all capital improvements in accordance with an adopted and funded capital improvement program. The adopted capital improvement program will be based on need. ./ The District will develop an annual five-year plan for Strategic Plan capital improvements, including design, development, projects needs implementation, and operating and maintenance costs. ./ through 2020 . All capital improvement projects approved in the annual operating budget are approved at the budgeted amounts through the completion of the project. The Board of Directors approves both the individual project total budget and the projected cash outlays for all capital improvement projects for the current fiscal year. ./ Staff will identify the estimated costs, potential funding sources and project schedule for each capital project proposal before it is submitted to the Board of Directors for approval. ./ Staff will identify the estimated on-going future Included in FY 2000-01 Staff Operating and Maintenance costs, as well as staffing Work-plan requirements upon completion for each capital project proposal before it is submitted to the Board of Directors for approval. ./ The District will use intergovernmental assistance and other outside resources whenever possible to fund capital improvements providing that these improvements are consistent with the Capital Improvement Plan and District's priorities, and that the future operating and maintenance costs of these improvements have been included in the budget. ./ Staff will coordinate development of the capital improvement budget with the development of the operating budget. All operations and maintenance resources required to implement the GIP have been considered and appropriately reflected in the operating budget for the year the GIP is to be implemented. ./ Section 3 -Page 3 2001-02 Budget Fiscal Policy Statement Cost tracking for components of the capital improvement program will be updated quarterly to ensure project completion against budget and established time lines. Vehicle Replacement Policy In order to provide safe, reliable transportation appropriate to the work to be performed, the following policies have been established: • • • • • • • The newest vehicles will be used for those purposes requiring the highest annual mileage. Vehicles will be replaced when they are 10 years old or have accumulated 100,000 miles. A vehicle may be replaced in advance of the above criteria if it can be reallocated to a low mileage use between the plants. Electric carts are to be utilized for all in-plant only uses. Electric vehicles are to be utilized for all between plant uses. CNG vehicles are to be utilized within the County (pump station runs, Source Control inspections, etc). CNG vehicles or bi-fuel vehicles are to be utilized to travel outside of Orange County (i.e., Environmental Compliance Monitoring of biosolids application sites, etc). Short-Term Debt Policies The District may use short-term debt to cover temporary or emergency cash flow shortages. All short-term borrowing will be subject to Board approval by Completed In Progress ./ ./ ./ ./ ./ ./ resolution. ./ The District may utilize Board approved intra-agency loans rather than outside debt instruments to meet short-term cash needs. Intra-agency loans will be permitted only if an analysis of the affected Revenue Areas indicates funds are available and the use of these funds will not impact current operations. The principal, along with interest at the prevailing rate as established by the District's Treasurer, will be paid to the lending Revenue Area. ./ Section 3 -Page 4 Comments ' Fiscal Policy Statement Long-Term Debt Policies The District will confine long-term borrowing to capital improvements that cannot be financed from current revenue. In accordance with the 1989 Master Plan, one-half of all future long-term capital improvements will be funded from long-term debt with the remaining cost funded from capital improvement reserves and current revenues. Proceeds from long-term debt will not be used for current on-going operations. Before any new debt is issued, the impact of debt service payments on total annual fixed costs will be analyzed. Accumulated Funds & Reserve Policies A cash flow/contingency reserve will be established to (1) fund operations and maintenance expenses for the first half of the fiscal year prior to the receipt of taxes and user fee revenues, (2) provide for non-recurring, unanticipated expenditures, and (3) fund the annual debt service principal payments and semi-annual interest payments due in August of each year. The level of this reserve will be the sum of (a) an amount equal to six months of the total District Operating costs, (b) ten percent of the District's Operating costs, and (c) the total of all annual debt service payments due in the month of Completed ./ ./ August for each year. ./ A capital improvement reserve will be maintained to fund approximately 50 percent of the average annual capital outlay plus the entire projected cost of funding specific near-term projects such as the Groundwater Replenishment System estimated at $178 million. A renewal/replacement reserve will be maintained to fund the District's renewal, rehabilitation and replacement requirement costs associated with the District's existing capital plant and collection system over the next twenty years. The reserve was initially set at $50 million in 1998-99 and, with an assumed interest rate level of five percent and annual increments, will grow to meet 30 percent of the identified demands to ./ 2020. Section 3 -Page 5 Fiscal Policy In Progress Comments 2001-02 Budget Fiscal Policy Statement Self-insurance reserves for property (fire, flood, and earthquake), general liability, and workers' compensation will be maintained at a level which, together with purchased insurance policies, FEMA Disaster reimbursement funding, and State Disaster Assistance payments would adequately protect the District. Based on a potential infrastructure loss of $495 Completed million, the reserve level has been set at $57 million. ./ Investment Policies The District's Treasurer will annually submit an investment policy to the Board of Directors for review and adoption. The investment policy will emphasize safety and liquidity before yield. Accounting, Auditing, and Financial Reporting The District's accounting and financial reporting systems will be maintained in conformance with generally accepted accounting principles and standards ./ ./ promulgated by the Governmental Accounting ./ Standards Board. A fixed asset system will be maintained to identify all District's assets, their condition, historical cost, replacement value, and useful life. ./ Quarterly financial reports will be submitted to the Board of Directors and will be made available to the public. Full disclosure will be provided in the general financial statements and bond representations. The District will maintain a good credit rating in the financial community. An annual audit will be performed by an independent public accounting firm with the subsequent issue of an official Comprehensive Annual Financial Report, including an audit opinion and a management letter. ./ ./ Section 3 -Page 6 In Progress Comments District Received AA rating in 2000 Budget Calendar Tasks Responsibility Event/Due Date PHASE I -BUDGET PREPARATION Draft Budget Calendar Published Financial Planning 11/16/00 Budget Parameters Presented to FAHR Committee Budget Team 12/13/00 CIP-Database Developed CIP Process Team 12/18/00 CIP -Forms Developed CIP Process Team 12/18/00 CIP -Instruction Manual Developed Financial Planning and 12/18/00 O&M Preliminary Budget Parameters identified by Budget Budget Team 12/28/00 Team and EMT &EMT CIP -Budget Kickoff Financial Planning and 1/3/01 O&M CIP -Budget Preparation Training Financial Planning and 1 /3/ -1 /4/01 O&M Preparation for Budget Kickoff I Training Session: Financial Planning 1/19/01 • Salary and Benefit Calculations Downloaded From JOE System to Excel Worksheets (Five Year Staffing Plan) • Develop Line Item Worksheets With Mid-Year Actual Expense and encumbrance Incorporated • Prepare I Update Budget Instruction Manual Budget Kickoff I Training Session: Financial Planning 1/22/01 -Distribute Budget Manual Update -Conduct Budget Training Session -Distribute Budget Worksheets for each division including - -Prior year actuals -Current year budget -Six months of current year actuals & encumbrances Budget Parameters Presented to Other Committees Budget Team PDC-2/1/01 Budget Parameters Presented to Other Committees Budget Team OMTS -2/7/01 CIP-Project Request Development Completed CIP Budget Coordinators 2/12/01 3 2001-02 Budget Manual Tasks Responsibility Event/Due Date CIP -Request Review -On-Line Department -2/12/01 Supervisors I Managers - & Department Heads 2/19/01 Mid-Year Financial Report to FAHR Finance Department 2/14/01 CIP-Request Finalization and Division Manager Division Managers 2/19/01 Review Completed JO -Complete Operating Budget (excluding Division Coordinators 2/20/01 Personnel & Capital Outlay): -Projection of current year actuals -Proposed for 2001-02 JO -Preliminary Divisional Budget Package Due: Division Coordinators 2/20/01 -Draft budget overview (budget highlights & current year's work plan) -Training Budget -Educational reimbursement budget -Capital equipment decision requests -New program/position decision requests, along with supporting requirements (i.e., computer) -Reclassification decision requests (The above items will be collated and bound by Financial Planning for review by the General Manager's Office) CIP -Request Finalization and Department Approval Department Heads 2/26/01 CIP -Completed CIP Budget Delivered to Finance CIP Budget Coordinators 2/26/01 Critical Goals, Strategic Planning and Five Year General Manager 2/28/01 Staffing Plan -Steering Committee & EMT Meeting PHASE 11-BUDGET REVIEW JO -Compilation and Review of Prelim. Div. Budget Financial Planning 2/28/01 Packages Completed JO -Distribution of Preliminary Line Item Requested Financial Planning 2/28/01 Budgets to Department Heads and Budget Coordinators JO -Budget Review Meetings with GM staff, budget General Mgrs. Office, 3/1/01 staff and department representatives Financial Planning, & - -review budget & initial decision packages Division Coordinators 3/8/01 4 Budget Calendar Tasks Responsibility Event/Due Date CIP-Committee Review CIP Committee 3/8/01 CIP -Resource Availability Review Engineering & O&M 3/8/01 CIP -Review Workshop Financial Planning & 3/15/01 Department Heads CIP-General Manager and Designee(s) Approval General Manager 3/22/01 JO -Submit Performance Budget Documents: Division Coordinators 3/22/01 -Performance Results (2000-01 ) -Performance Measures (2001-02) PHASE Ill -BUDGET PRESENTATION JO -Completion of Preliminary Budget Financial Planning 3/30/01 CIP -Finalize CIP List Financial Planning 4/2/01 Proposed Budget finalized Financial Planning 4/5/01 Overview of Proposed Budget with FAHR General Manager/ 4/11/01 Financial Planning CIP -Final CIP Budget Document Preparation and Financial Planning 4/13/01 Incorporation into Final Budget Document General Manager Budget Message Completed General Mgrs. Office I 4/19/01 Financial Planning Proposed Budget to Printer Financial Planning 4/20/01 Proposed Budget mailed to OMTS, PDC, and FAHR Financial Planning 4/25/01 PHASE IV -BUDGET DELIBERATIONS Proposed Budget Presented to Committees Financial Planning OMTS -5/2/01 PDC-5/3/01 FAHR -5/9/01 Public Hearing & Adoption Board of Directors 6/27/01 PHASE V -DISTRIBUTION OF BUDGET Final line item budget and equipment budgets Financial Planning 7/6/01 distributed to Departments Final approved budget distributed Financial Planning 7/t3/01 5 2001-02 Budget Manual Tasks Responsibility Event/Due Date PHASE VI -BUDGET DEBRIEFING Budget Debriefing Financial Planning 7/17/01 -What global changes have occurred in this year's budget -What changed since the Department's original submittal -What changes occurred as a result of Board action -Results of Budget Survey -Overview of Budget Monitoring with JD Edwards Software and review of Budget Coordinator's Responsibility -Suggestions for 2002-03 Budget Process Improvements 6 FAHR COMMITTEE Meeting Date To Bel. of Dir. 12/13/00 12/20/00 AGENDA REPORT Item Number Item Number FAHR00-97 Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: CERTIFICATE OF PARTICIPATION RESERVE FUND INVESTMENT AGREEMENT GENERAL MANAGER'S RECOMMENDATION Recommend to the Board of Directors that the District conduct a competitive selection process and enter into a Reserve Fund Investment Agreement in order to maximize security, yield and liquidity. SUMMARY Interest earnings on reserve funds for tax exempt Certificates of Participation (COPs) are restricted by Federal law. A complex formula is used to determine eligible earnings and any excess must be rebated to the government. The government does not make up any shortfall if the allowable interest is not earned. Staff recommends long-term investment agreements be competitively placed in order to ensure that all permissible interest is earned while maximizing liquidity and safety. PROJECT/CONTRACT COST SUMMARY NIA BUDGET IMPACT 0 This item has been budgeted. (Line item: ) 0 This item has been budgeted, but there are insufficient funds. [8J This item has not been budgeted. 0 Not applicable (information item) ADDITIONAL INFORMATION The 1993 Refunding COPs were issued in a synthetic-fixed interest rate mode. The COP service reserve funds can earn up to 4. 92% interest before excess earnings must be rebated to the Federal government. These reserves are invested in a money market fund and the earnings over the past eight years have fallen short of the allowable earnings by $145,000. A fixed rate investment agreement that yields slightly more than 4.92% will allow the District to recover the interest that we have failed to earn up to this point. There is approximately $4.5 million in this reserve fund. Interest earnings are used by the Trustee to make periodic payments to the COP-holders. H:\Wp.dtalagenda\Fl\HRIFl\HR20002000 Agenda Reports\FAHRCJ0.97.doc Re'lised: 8l20l98 Page 1 The Series 2000 Refunding COPs were issued in August in a variable interest rate mode. Because the interest cost changes each day for these COPs, the maximum allowable investment interest rate on the reserve funds cannot be established as a fixed amount. However, it is possible to enter into an investment interest agreement that will pay a rate to the District that is equal to the rate we pay the COP-holders plus a fixed percentage. Such an agreement would ensure that the District receives the maximum allowable investment interest income. It would also very likely require periodic payments of "excess yield" to the Federal government, but only a rebate of earnings, not a penalty. Shortly after the Series 2000 Refunding COPs were issued, staff asked the Financial Services Group (FSG) of Orrick, Herrington & Sutcliffe, our bond counsel, to review options for the investment of COP Reserve Funds. Our goal was to be certain we earned as much interest as the law allowed and to maximize safety and liquidity of the approximately $17.3 million COP Reserve Fund. FSG identified and compared several investment vehicles and found that an Investment Agreement will provide OCSD with a substantially stronger combination of credit quality, yield and protection from market price risk and reinvestment risk than other alternatives. From a credit quality perspective, an appropriately structured IA will (1) have an AA-to AAA-rated counterparty, (2) provide for the counterparty to collateralize its obligations under the IA if its rating falls below AA (with the collateral held by an independent third- party custodian acting on OCSD's behalf), and (3) provide for OCSD to withdraw its deposit if the counterparty's credit rating drops below NA2 by S&P or Moody's, respectively. The combination of initial counterparty financial strength and the two "downgrade" triggers, will result in an IA being a safe and prudent security. Similar securities are widely prevalent and are approved by all rating agencies and bond insurers. From the perspective of reducing or eliminating market price risk, the IA will provide for withdrawals at par when necessary, regardless of market conditions prevailing at the time. From a yield perspective, current market rates for IAs are significantly above the current yield offered by prudent alternatives and are sufficiently above the allowable interest earnings rate to offset all accumulated negative arbitrage. IAs will also virtually eliminate reinvestment rate risk by offering (1) a fixed rate over the life of the investment (for the 1993 Certificates) and a fixed spread over the floating rate index (for the 2000 A&B Certificates), (2) a final maturity date coinciding with that of the Certificates, and (3) interest payment dates corresponding to the dates on which the Reserve Fund earnings will be used to offset interest payments on the Certificates. H:lwp.dta ... gendalFAHRIFAHR2000'2000 Agenda Reports\FAHRQ0.97.doc Rellised: 8l20l98 Page2 The leading alternative to an IA is the purchase (and "roll" into the future) of three to five-year U.S. Agency securities. This strategy offers the high credit quality and "familiar nature" of U.S. Agency securities. However, disadvantages of this strategy include lower current yields and taking on both substantial reinvestment rate risk when the securities mature and moderate market price risk if the securities need to be converted to cash in a higher interest rate environment than exists. Other options include utilizing money market funds and longer term U.S. Agency securities. While money market funds currently have attractive yields and provide excellent safety and liquidity, they also expose OCSD to interest rate risk, and therefore, possible negative arbitrage. For example, the Reserve Fund for the· 1993 Certificates has generated approximately $145,000 of negative arbitrage while invested in a money market fund. As always, there is no assurance that current attractive money market rates will not fall or gain in the future. Longer term U.S. Agency securities provide attractive yields and safety but present significant market risk. Should we need to liquidate a long-term U.S. Agency security, there is a real possibility that such a sale could result in a capital loss if overall interest rates had increased from the date of purchase. ALTERNATIVES None. CEQA FINDINGS N/A ATTACHMENTS None GGS:lc H:lwp.dlalagenda\FAHRIFAHR2000\2000 Agenda Reports\FAHR00-97.doc Revised: 8/20/98 Page 3 FAHR COM.MITTEE Meeting Date 12/13/00 AGENDA REPORT Item Number FAHR00-98 Orange County Sanitation District FROM: Blake Anderson, General Manager Originator: Greg Mathews, Assistant to the General Manager SUBJECT: INCREASE IN THE DIRECTORS' COMPENSATION TO $170 PER MEETING, MAXIMUM SIX MEETINGS PER MONTH GENERAL MANAGER'S RECOMMENDATION Adopt Ordinance No. OCSD-14, An Ordinance of the Board of Directors of Orange County Sanitation District, Establishing Board of Director's Compensation and Repeal Resolution No. OCSD 98-3: a. Receive and file General Counsel's memo dated November 10, 2000. b. Motion to read Ordinance No. OCSD-14 by title only and waive reading of said entire ordinance. (The waiver of the reading of the entire ordinance must be adopted by a unanimous vote of Directors present.) c. Motion to introduce Ordinance No. OCSD-14, and pass to second reading and public hearing on January 24, 2001. SUMMARY Senate Bill 1559, which has passed both houses and has been signed by the Governor, allows the Board to adjust the amount of compensation it receives. For the last fourteen years, each Board member has received $100/meeting for up to 6 meetings per month. The Board has the discretion to increase its compensation up to $170 per meeting for up to ten meetings per month (up to $175 beginning next calendar year). Attached please find General Counsel's memorandum from November 20 providing further details. There are several policy issues worthy of your consideration prior to adopting a new compensation ordinance: • SB 1559 goes into effect January 1, 2001. However, an ordinance adopted by the Board can go into effect no sooner than sixty days after adoption by the Board. H:\wp.dtalagenda\FAHRIFAHR200Q2000 Agenda ReportslFAHR00-98.doc Page 1 Tolt. Bds. 12/20/00 Item Number • Directors have not had a compensation increase since 1986. • Based on the Los-Angeles-Anaheim-Riverside Area average CPI for all urban consumers, the $100 per meeting compensation rate adopted in 1986 would have increased to $144 to make today's compensation equivalent to the 1986 rate. • In May 1999, the Board supported a resolution (No. 99-06) modifying California's County Sanitation District Act governing compensation. This resolution passed 19-2. Last year, a similar bill modifying the Act was approved by the Legislature but was vetoed by the Governor. • We conducted a review of our sister agencies, many of which we use in our employee compensation comparisons. This is attached for your review. Please note that some of the agencies are governed by different laws and thus may not be apples-to-apples comparable. Nevertheless, our existing pay rate per meeting and number of meetings per month falls in the lower- middle of this compensation spectrum. It is likely that other wastewater agencies will adjust their Directors' compensation level with the passage of this bill. • The Steering Committee was presented an overview of this information in its November meeting. It is their opinion that the $170 per meeting is reasonable with the existing six meeting per month limit. PROJECT/CONTRACT COST SUMMARY The cost of this adjustment is estimated to be $46,000 annually, raising the total cost of the Directors' compensation to an approximate $111,000 per annum. BUDGET IMPACT [81 This item has been budgeted. 0 This item has been budgeted, but there are insufficient funds. 0 This item has not been budgeted. 0 Not applicable (information item) The estimated six-month increase in cost for this program can be absorbed by the current Joint Operating budget. ADDITIONAL INFORMATION Not Applicable. H:lwp.dta\agenda\FAHRIFAHR20002000 Agenda Reports\FAHR00.98.doc Page2 ALTERNATIVES 1. The Directors may choose any combination of payment from $100-$170 and any number of meetings up to a maximum of ten per month. CEQA FINDINGS Not Applicable. ATTACHMENTS November 20, 2000 General Counsel memorandum Draft Ordinance No. OCSD-14 External agency compensation comparison data H:lwp.dta\agenda\FAHRIFAHR2000.2000 Agenda Reports\FAHR00.98.doc Page3 LAW OFFICES OF WOODRUFF, SPRADLIN & SMART A PROFESSIONAL CORPORATION TO: FROM: DATE: RE: MEMORANDUM Chair and Members of Board of Directors Orange County Sanitation District General Counsel November 20, 2000 Legislative Status Report -Senate Bill 1559 (Kelley and Rainey) Directors' Compensation for Sanitary and Sanitation Districts At the request and urging of the OCSD Board, and joined almost unanimously by numerous member agencies of CASA, the above-referenced Bill was again sponsored by CASA and authored by Senator Kelley during the summer Session of the Legislature. I am pleased to report that the Bill has successfully passed both Houses, been approved by the Governor on July 5, 2000, and Chaptered into law as Chapter 86, 2000 Stats., to be effective January 1, 2001. As you will recall, a near1y identical Bill was passed last year with little, if any, resistance in either the Senate or Assembly, but without any warning or information being provided to Senator Kelley, the Governor vetoed the Bill, and thus it had to be re-enacted this Session. As the Directors are aware, the present law pertaining to Sanitation District Directors is that they are entitled to receive the sum of $100.00 per day for each meeting, or each day of service, with a maximum not-to-exceed 6 days. in any calendar month. This new legislation allows the District's Board of Directors, by the adoption of an Ordinance, to increase the amount of compensation per day and the number of days per month. Specifically, the daily compensation may be increased by an amount not-to-exceed 5% for each calendar year following the operative date of the last adjustment of the present compensation. The current level of $100.00 per meeting, or day of service, was established in 1986, thus the rate of 5% per annum for 15 years, a 70% increase, or a maximum not-to-exceed $170.00 per meeting or each day of service. Additionally, the Ordinance, if adopted by your Board, would authorize that compensation be paid for up to and including 6 meetings, or 6 days in any calendar month. Recognizing that the Board of Directors, over the past 3 years, has encouraged the revisiting of this subject and asking for legislative amendments, we have placed this on yo.ur Committee Agenda for review as a policy matter as to what direction to pursue, and for referral to one or more of the Standing Committees and the Board for action. TLW:pj 128570\1 For your information, the draft Ordinance is attached hereto. OMAS L. WOODRUFF GENERAL COUNSEL ORDINANCE NO. OCSD -- AN ORDINANCE OF THE BOARD OF DIRECTORS OF ORANGE COUNTY SANITATION DISTRICT ESTABLISHING BOARD OF DIRECTORS COMPENSATION WHEREAS, Members of the Board of Directors are entitled, by the provisions of State law, to receive compensation for attendance at meetings, or for each day's service rendered as a Member of the Board; and WHEREAS, the last adjustment in the per diem compensation for Directors was effective January 1, 1987; and WHEREAS, the State Legislature, during the regular Session of Year ~000, adopted legislation (Senate Bill 1559), Chaptered into law (Ch. 86, Stats. 2000), effective January 1, 2001, authorizing an increase of the per diem compensation in an amount not to exceed five (5%) percent for each calendar year following the operative date of the last adjustment; and WHEREAS, the Board of Directors determines that the proposed increase is reflective of increases in the cost of living related to the performance of service. NOW, THEREFORE, the Board of Directors of Orange County Sanitation District does hereby ORDAIN: Section 1 : That each Director shall receive the sum of One Hundred Seventy ($170.00) Dollars for attendance at each meeting of the Board of Directors, or for each day's service rendered as a Member of the Board, by request of the Board; provided that each Director shall not receive compensation for more than a total of six (6) meetings or six (6) days' service per month. Each day's service rendered as a Member of the District's Board shall be deemed to include, but not be limited to: A. Attendance as a Member of any Committee established by the District and appointed by the Chair of the District. B. Attendance at any Committee Meeting when expressly invited to attend said Committee Meeting by the Chair of the District. C. Attendance at conferences with State and/or Federal Legislators regarding District business, when approved by action of the Board of Directors. WS&S-TLW:pj:D-2:11/17/00:#128571 1 D. Attendance at a meeting, hearing, or conference for business of the District, when approved by action of the Board of Directors, or when designated by the General Manager, with the concurrence of the Chair, when deemed to be in the best interests of the District. Section 2: Each Director shall be reimbursed at the rate per mile established by the United States Internal Revenue Service as allowable for mileage expense deduction for use of a personal vehicle or business of the District. As said allowable rate established by the Internal Revenue Service is periodically changed, said changes in the reimbursement rate shall become effective on the first day of the month following the month in which the change is announced by the Internal Revenue Service. Section 3: When traveling on the business of the District, the Director shall be entitled to reimbursement of expenses necessarily incurred in the course of said travel, in accordance with the following schedule: A Commercial Transportation -Per actual invoice. B. Hotel-Room rate per actual statement for occupancy. C. Registration -Actual cost of conference or meeting registration fee. D. Ground Transportation -As itemized. E. Telephone Service -As itemized. F. Meals. Gratuities. and Incidentals -$40.00 per day. In those cases where the actual cost of the Director's personal meals and incidentals required during the course of the conference or meeting exceeds the per diem, reimbursement will be based upon actual expenditures. Section 4: No Director shall receive pay for attendance at any meeting, such as Committee Meetings, which is scheduled immediately preceding, immediately succeeding, or concurrent with, a regularly-scheduled District Board Meeting. Section 5: Resolution No. 98-3 is hereby repealed. Section 6: This Ordinance shall be effective sixty (60) days after adoption. WS&S -TLW:pj:D-2:11117/00:#128571 2 PASSED AND ADOPTED at a regular meeting of the Board of Directors held the __ day of , 2001. Chair, Board of Directors Orange County Sanitation District ATTEST: Secretary of the Board of Directors Orange County Sanitation District AYES: NOES: ABSTAIN: ABSENT: WS&S -TLW:pj:D-2:11/17/00:#128571 3 AVERAGE# MEETINGS BENEFITS AGENCY COMPENSATION PER MONTH Health I Mileage I Retirement Orange County Water District $150.00 Per Diem Maximum of 10 meetinqs a month x x x Orange County Fire Authority $100.00 Per Diem Maximum of $300.00 per month No Benefits Orange County Transportation Authority $100.00 Per Diem Maximum of $500.00 per month x x NA Southern California Association of Governments $120.00 Per Diem Maximum of 4 meetings a month NA x NA Transportation Corridor Authority $120.00 a Meeting Maximum of 6 meetings a month No Benefits County Sanitation District of Los Angeles $100.00 Per District Maximum of 6 meetings a month No Benefits Irvine Ranch Water District $175.00 Per Diem Maximum of 10 meetinqs a month x x x Eastern Municipal Water District $160.00 Per Diem Maximum of 10 meetings a month x x x East Bay Municipal Utilities District $926.00 a month Minimum of 3 meetings a month x NA NA \\radon\data1\wp.dta\admin\31 O\smith\2000 Memos\Angencies Benefits Chart.doc ·l . FAHR COMMilTEE AGENDA REPORT Orange County Sanitation District FROM: Gary Streed, Director of Communications Originator: Michael D. White, Controller Meeting Date To Bd. of Dir. 12/13/00 Item Number Item Number FAHR00-99 SUBJECT: ANALYSIS OF CITY OF ANAHEIM TREASURER'S COMMENTS RE QUARTERLY INVESTMENT MANAGEMENT PROGRAM REPORT GENERAL MANAGER'S RECOMMENDATION Information item. SUMMARY At the last FAHR meeting, Director McCracken presented a memorandum from the Treasurer of the City of Anaheim that expressed concerns over the District's quarterly investment report. Attached is the Finance Department's response to those concerns as well as the original memorandum from the City of Anaheim's Treasurer. A copy of the response has also been faxed to the City of Anaheim's Treasurer. PROJECT/CONTRACT COST SUMMARY NIA BUDGET IMPACT 0 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. ~ Not applicable (information item) ADDITIONAL INFORMATION NIA ALTERNATIVES NIA ATTACHMENTS 1) Memorandum on the District's "Response to City of Anaheim Treasurer's Concerns Regarding the District's Quarterly Investment Report. 2) Memorandum from the Treasurer of the City of Anaheim on "Orange County Sanitation District -Quarterly Report". H:lwp.dtalagenda\FAHR\FAHR2000\2000 Agenda Repor1s\FAHR00·99.doc.dot Page 1 November 28, 2000 TO: FROM: SUBJECT: CC: MEMORANDUM Director Shirley McCracken Michael White, controller ~vJ Response to City of Anaheim's Treasurer's Concerns Regarding the District's Quarterly Investment Report FAHR Committee Members Gary Streed, Director of FinancefTreasurer Charlene Jung, City of Anaheim Treasurer Following is the District's response to the concerns raised by Charlene Jung, City of Anaheim Treasurer, within her memorandum to you dated November 7, 2000: Concern No. 1 The District's quarterly investment report does not appear to provide monthly investment transaction information as required by Government Code Section 53607. Response: The requirement to provide monthly investment transaction information is met by the District through the submittal of the monthly investment report to the Board. The quarterly investment report is intended to supplement the monthly investment report without duplicating all of the same information. OCSD • P.O. Box 8127 • Fountain Valley, CA 92728-8127 • (714) 962-2411 Finance, Administration, and Human Resources Committee Members Concerns Regarding the District's Quarterly Investment Report November 27, 2000 Page 2 of 4 Concern No. 2 The District's quarterly investment report does not provide for a listing of the individual securities held by the District that includes the type of investment, issuer, date of maturity, par and dollar amount invested, and the current market value as of the date of the report and the source of valuation as required by Government Code Section 53646. Response: The requirement to provide a listing of the individual securities held by the District that includes the type of investment, issuer, date of maturity, par and dollar amount invested, and the current market value as of the date of the report and the source of valuation as required by Government Code Section 53646 is met by the District through the submittal of the monthly investment report to the Board. The quarterly investment report is intended to supplement the monthly investment report without duplicating the same information. Concern No. 3 The information presented in the quarterly investment report does not allow the reader to determine who the issuer is, the issuer's ratings, or if a specific security is suffering a large market loss. Most entities include individual investment detail that can be verified by an auditor. At minimum, cusip numbers should be included which allows confirmation of the security detail. Response: Information provided in the District's monthly investment report includes issuer names, issuer's ratings, and whether a specific security is suffering a large market loss. The District includes individual investment detail that can be verified by an auditor and includes CUSIP numbers to allow confirmation of the security detail. Concern No. 4 Many of the securities listed in the tables tend to have long maturities, such as 2023, 2028, and 2029. In addition, it appears that a portion of the portfolio is invested in GNMA's, CMO's and other mortgage back pass through securities. While some of these securities are of a high credit standard, mortgage pass through securities tend to have an uncertain cash flow. Finance, Administration, and Human Resources Committee Members Concerns Regarding the District's Quarterly Investment Report November 27, 2000 Page 3 of 4 Response: As of October 31, 2000, the District had 13.3 percent, or $33.6 million invested in within the liquid operating fund with an average maturity of 60 days. In addition, $11.0 million was in the State Local Agency Investment Fund and another $1.5 million in overnight repurchase agreements. In addition, the District's long-term investment portfolio consisting of $349.9 million had an average maturity of 3.7 years. All of the investments of the District's were made within the District's Investment Policy, and within the percentage limitations contained within the policy. Although mortgaged-backed securities are often prepaid and provide uncertain cash flow, this is not currently an issue for the District. We enjoy a slightly higher yield and continue to believe that the District is adequately safeguarded from the liquidity risk and the District's future cash flows will be met. Concern No. 5 The District's investment portfolio includes Long Island Ltg. Co., maturing 2023, that has a (Moody's) rating of Baa3. The State Government Code has minimum rating requirements for certain investment types, which apply at the time of investment purchase. However, from a business standpoint, I would closely monitor this security, particularly because of its extended maturity date. Response: The Board-approved investment policy does allow purchase of securities with a split rating, and this security is also rated A-by Standard and Poors. Nonetheless, we appreciate and recognize the concern to monitor this security throughout its life within the District's portfolio. Staff and PIMCO will watch this investment closely. Concern No. 6 PIMCO's strategy is "to continue to emphasis (sic) mortgages because of superior credit quality and relatively high yields". Most of the problems portfolios have faced in the past are not due to credit quality, but rather a failure to have a proper asset- liability match. If securities can be called or paid down sooner than expected, this may create difficulties in the asset-liability model. Finance, Administration, and Human Resources Committee Members Concerns Regarding the District's Quarterly Investment Report November 27, 2000 Page 4 of 4 Response: The concern expressed here is not in protecting principal but in maximizing return on principal. PIMCO believes that interest rates will not go down to the extent that there will be a lot of mortgage re-financings. They believe that returns can be maximized by investing in mortgages, which are also safe, high quality investments. In responding to this question directly, our PIMCO consultant pointed out the following: 1. Mortgages are at their lowest prepayment sensitivity than at any time during the past four years. 2. The average price of a TBA (to be announced) mortgage is at $97 which is below par ($100). This shows that the majority of mortgages are trading below current mortgage rates. It would take a very large interest rate move to incite prepayments. 3. Spreads, or the difference in yields, to Treasuries are extremely attractive. 4. The risk of prepayments is monitored in PIMCO's analytics system. Each day PIMCO monitors the different possibilities of the change in the portfolio's duration given various changes in interest rates. PIMCO is comfortable with the risk of prepayments and believes that owning mortgages is a good risk/reward trade-off. Concern No. 7 The report is impressive with charts and extraneous information. However, I'm not sure how relevant the information in Section I regarding equity funds would be to agency portfolio management. By law, we are not allowed to invest agency portfolio funds in equities. The report contains a wide variety of global portfolio analyses; perhaps the consultant can also include detailed portfolio information. Response: We concur that investing in equities is prohibited by the State Government Code and the District does not invest in equities. Information pertaining to equities is provided to give the Directors an overall view of market conditions. As suggested by the Treasurer of the City of Anaheim, detailed portfolio information is contained within our monthly investment report. H:\wp.dta\fin\220\white\Treasury Mgmt\anaheim concerns.doc CITY OF ANAHEIM MEMORANDUM TO: Mayor Pro Tern McCracken FROM: Charlene Jung, City Treasurer DATE: November 7, 2000 SUBJECT: Orange County Sanitation District -Quarterly Report I received a copy of the Orange County Sanitation District's Quarterly Investment Report. While the report is very extensive, it may not comply with the requirements of the attached Government Code Sections 53607 and 53646. Government Code Section 53607 requires that monthly investment transactions be reported to the legislative body. The Code is silent as to when the monthly report must be submitted; consequently, entities that report quarterly will generally include monthly transactions in their quarterly report. The District's reports do not appear to provide monthly investment transaction information. In addition, Government Code Section 53646 states that quarterly reports must be rendered within 30 days following the quarter-end. The report must include the type of investment, issuer, date of maturity, par and dollar amount invested on all securities. The report shall also include a current market value of the date of the report and the source of the valuation. While the Sanitation District should consult with their own legal counsel, most agencies believe that the Code requires the agency to provide the legislative body with a detailed portfolio report that includes a listing of individual securities. The District's report does not contain a source for market valuation or a listing of individual securities with the detail required by 53646. Section III, Page 16 of the report appears to be the only area that lists investments. The top table shows the portfolio composition by investment type, but does not list the detail for individual securities. For example, over $102 million or 27.8% of the portfolio is invested in "corporate" securities. The information presented does not allow the reader to determine who the issuer is, the issuer's ratings, or if a specific security is suffering a large market loss. Most entities include individual investment detail that can be verified by an auditor. At minimum, cusip numbers should be included which allows confirmation of the security detail. It is important that the legislative body receive complete investment information. While the District's report does not include a complete listing of all securities, Section Ill, Page 16 provides "the top five category tables" that have some individual security detail. Many of the securities listed in the tables tend to have long maturities, such as 2023, 2028, and 2029. It appears that a portion of the portfolio is invested in GNMA's, CM O's and other mortgage c: 0 -Ii > 0 (3. < :E 0 2 0 ~ w <"-' 0 ::c t-0 t-~ LL. 0 0 > 6 ~ 0 0 C,,) z z ti: -< Li.. Q Mayor Pro Tern McCracken November 7, 2000 back pass through securities. While some of these securities are of a high credit standard, mortgage pass through securities tend to have an uncertain cash flow. Mortgage pass through securities are generally pools of home loans; as interest rates go down, people tend to refinance their loans and the security pays back principal and interest faster and in an unpredictable manner as compared to bullet securities. Pass through securities are also more difficult to handle from an accounting standpoint. Unlike most securities, mortgage pass through securities tend to have partial payments of principal throughout the life of the security. Page 16, Table 3 also shows a holding for Long Island Ltg Co, maturing 2023, that has a rating of Baa3. The Code has minimum rating requirements for certain investment types, which apply at the time of investment purchase. However, from a business standpoint, I would closely monitor this security, particularly because of its extended maturity date. Page 4 of the Agenda Report Package states that PIMCO's strategy is "to continue to emphasis [sic] mortgages because of superior credit quality and relatively high yields; retain focus on "full faith and credit" GNMA's". Most of the problems portfolios have faced in the past are not due to credit quality, but rather a failure to have a proper asset-liability match. In reference to credit quality, the Government Code protects us to a certain extent due to the restrictions on permitted investments. However, if securities can be called or paid down sooner than expected, this may create difficulties in the asset-liability model. The report is impressive with charts and extraneous information. However, I'm not sure how relevant the information in Section I regarding equity funds would be to agency portfolio management. By law, we are not allowed to invest agency portfolio funds in equities. The report contains a wide variety of global portfolio analyses; perhaps the consultant can also include detailed portfolio information. If you have any questions, or would like to discuss my comments, please feel free to call me at extension 5544, or you can reach me at home at (626) 332-4058. Thank you. Respectfully, Charlene Jung City Treasurer cc: Mayor Daly and Councilmembers City Manager held to maturity. However, a local agency may hold prohibited instruments until their maturity dates. The limitation in this subdivision shall not apply to local agency investments in shares of beneficial interest issued by diversified management companies registered under the Investment Company Act of 1940 (15 U.S.C. Sec. BOa-1, and following) that are authorized for investment pursuant to subdivision (k) of Section 53601. 53602. The legislative body shall invest only in notes, bonds, bilLs, certificates of indebtedness, warrants, or registered warrants which are legal investments for savings banks in the State, provided, that the board of supervisors of a county may, by a four-fifths vote thereof, invest in notes, warrants or other evidences of indebtedness of public districts wholly or partly within the county, whether or not such notes, warrants, or other evidences of indebtedness are legal investments for savings banks. 53603. The legislative body may make the investment by direct purchase of any issue of eligible securities at their original sale or after they have been issued. 53604. The legislative body may sell, or exchange for other eligible securities, and reinvest the proceeds of, the securities purchased. 53605. From time to time, the legislative body shall sell the securities so that the proceeds may be applied to the purposes for which the original purchase money was placed in the sinking fund or the treasury of the local agency. 53606. The bonds purchased, which were issued by the purchaser, may be canceled either in satisfaction or sinking fund obligations or otherwise. When canceled, they are no longer outstanding, unless in its discretion, the legislative body holds then uncanceled. While held uncanceled, the bonds may be resold. 53607. The authority of the legislative body to invest or to reinvest funds of a local agency, or to sell or exchange securities so purchased, may be delegated for a one-year period by the legislative body to the treasurer of the local agency, who shall thereafter assume full responsibility for those transactions until the delegation of authority is revoked or expires, and shall make a monthly report of those transactions to the legislative body. Subject to review, the legislative body may renew the delegation of authority pursuant to this section each year. 53608. The legislative body of a local agency may deposit for safekeeping with a federal or state association (as defined by Section 5102 of the Financial Code), a trust company or a state or national bank located within this state or with the Federal Reserve Bank of San Francisco or any branch thereof within this state, or with any Federal Reserve bank or with any state or national bank located in any city designated as a reserve city by the Board of 1/5/2000 4:06 PM of 24 upon becwe en the treasurer and the depository. 53644. If an agreement is not made: (a) Active depos its a nd interest thereon are subject to withdrawal upon the demand of the treasurer or other authorized official, subject to any penalties which may be prescribed by f e deral law or regula tion. (b) Inactiv e deposits are subj e ct t o not ice of at l e ast t hirty days before withdrawal . 5364 5 . Inte r est s ha ll be c omputed and paid by the de p ository, as f o llows: (a) Fo r a c tive depos its upon which interest i s payab le , interest shal l b e comp u ted on the av e r age daily balance for the calendar quarter , and s hall be paid quart erly. (b) For inactive deposits, interest shall b e computed on a 360-day ba sis, and sh all be paid quarterly . 53646. (a) (1) In the case of county government, the treasurer shall annually render to the board of supervisors and any oversight committee a statement of investment policy, which the board shall review and approve at a public meeting. Any change in the policy shall also be reviewed and approved by the board at a public meeting. (2) In the case of any other local agency, the treasurer or chief fiscal officer of the local agency shall annually render to the legislative body of that local agency and any oversight committee of that local agency a statement of investment policy, which the legislative body of the local agency shall consider at a public meeting. Any change in the policy shall also be considered by the legislative body of the local agency at a public meeting. (b) (1) The treasurer or chief fiscal officer shall render a quarterly report to the chief executive officer, the internal auditor, and the legislative body of the local agency . The quarterly report shall be so submitted within 30 days following the end of the quarter covered by the report. Except as provided in subdivisions (e) and (f), this report shall include the type of investment, issuer, date of maturity par and dollar amount invested on all securities, investments and moneys held by the local agency, and shall additionally include a description of any of the local agency's funds, investments, or programs, that are under the management of contracted parties, including lending programs. With respect to all securities held by the local agency, and under management of any outside party that is not also a local agency or the State of California Local Agency Investment Fund, the report shall also include a current market value as of the date of the report, and shall include the source of this same valuation. (2) The quarterly report shall state compliance of the portfolio to the statement of investment policy, or manner in which the portfolio is not in compliance. (3) The quarterly report shall include a statement denoting the ability of the local agency to meet its pool's expenditure requirements for the next six months, or provide an explanation as to why sufficient money shall, or may, not be available. (4) In the quarterly report, a subsidiary ledger of investments may be used in accordance with accepted accounting practices. (c) Pursuant to subdivision (b), the treasurer or chief fiscal officer shall report whatever additional information or data may be required by the legislative body of the local agency. I /5/20()0 4 :O(i I' 1 of24 (d) The legislative body of a local agency may elect to require the report specified in subdivision (b) to be made on a monthly basis instead of quarterly. (e) For local agency investments that have been placed in the Local Agency Investment Fund, created by Section 16429.1, in National Credit Union Share Insurance Fund-insured accounts in a credit union, in accounts insured or guaranteed pursuant to Section 14858 of the Financial Code, or in Federal Deposit Insurance Corporation-insured accounts in a bank or savings and loan association, in a county investment pool, or any combination of these, the treasurer or chief fiscal officer may supply to the governing body, chief executive officer, and the auditor of the local agency the most recent statement or statements received by the local agency from these institutions in lieu of the information required by paragraph (1) of subdivision (b) regarding investments in these institutions. (f) The treasurer or chief fiscal officer shall not be required to render a quarterly report, as required by subdivision (b), to a legislative body or any oversight committee of a school district or county office of education for securities, investments, or moneys held by the school district or county office of education in individual accounts that are less than twenty-five thousand dollars ($25,000). 53647. (a) Interest on all money deposited belongs to, and shall be paid quarterly into the general fund of, the local agency represented by the officer making the deposit, unless otherwise directed by law. (b) Notwithstanding the provisions of subdivision (a), and except as otherwise directed by law, if the governing body of the local agency represented by the officer making the deposit so directs, such interest shall be paid to the fund which contains the principal on which the interest accrued. 53647.5. Notwithstanding any other provision of law, interest earned on any bail money deposited in a bank account pursuant to Section 1463.1 of the Penal Code and Section 53679 of this code shall, if the board of supervisors so directs, be allocated for the support of the courts in that county. 53648. Notwithstanding this article, the treasurer may deposit moneys in, and enter into contracts with, a state or national bank, savings association or federal association, federal or state credit union, or federally insured industrial loan company, pursuant to a federal law or a rule of a federal department or agency adopted pursuant to the law if the law or rule conflicts with this article in regulating the payment of interest on deposits of public moneys by any of the following: (a) Banks which are Federal Reserve System members or whose deposits are insured by the Federal Deposit Insurance Corporation. (b) Savings associations or federal associations which are federal home loan bank members or whose deposits are insured by the Federal Savings and Loan Insurance Corporation. (c) State or federal credit unions whose accounts are insured by the National Credit Union Share Insurance Fund or guaranteed by the California Credit Union Share Guaranty Corporation or insured or guaranteed pursuant to Section 14858 of the Financial Code, unless a member of the legislative body of a local agency, or any person with investment decisionmaking authority of the administrative office, 1/5/2000 4:06 PM FAHR COMMITTEE Meeting Date To Bd. of Dir. 12/13/00 AGENDA REPORT Item Number Item Number FAHR00-100 Orange County Sanitation D1stnct FROM: Lisa Tomko, Director of Human Resources & Employee Development Originator: Jan Collins, Senior Human Resources Analyst SUBJECT: Compensation & Classification Study GENERAL MANAGER'S RECOMMENDATION Compensation and Classification Study Update (Information Only) SUMMARY On September 27, 2000, the Board of Directors approved a district-wide compensation and classification study. The goal of the study is to review and update the District's compensation and classifications plans. In the past, the HR/ED Department conducted a study every other year in which approximately 30 benchmark classifications were compared to classifications at the District's nine benchmark agencies. Management, with input from the OCEA, Local 501 and SPMT bargaining units agreed that it was time to do a larger scale classification study. Request for Proposal packages for the study were sent to ten vendors on November 1, 2000 and one bid was submitted by the due date of November 21, 2000. The Evaluation Committee, consisting of seven employees representing a cross section of the organization including departments, classification levels and bargaining units was designated. The package was evaluated on five criteria -qualifications of the firm, staffing and project organization, work plan, cost and price and completeness of response. At this time, staff will rebid the proposal so that: 1. Scope of Work can be reviewed and revised if needed 2. Timeline for project completion can be extended (based on vendor feedback) 3. Request for Proposal packages can be sent to a greater number of vendors to ensure a competitive process The vendor will be chosen through a competitive process and evaluated on the following criteria: qualifications, staffing and project organization, work plan, cost and price and completeness of response. We will be presenting the vendor selected to perform the study at the February FAHR committee meeting. The vendor will be attending subsequent monthly FAHR committee meetings for updates and questions. PROJECT/CONTRACT COST SUMMARY The cost for the program will be within the $120,000 budgeted. H:\wp.dta\agenda\FAHRIFAHR200CA2000 A99nda Reports\FAHR00.100.doc ReviMd: 8/20/98 Page 1 BUDGET IMPACT [8l 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 NIA ALTERNATIVES N/A CEQA FINDINGS NIA ATTACHMENTS N/A H:\wp.dtalagenda\FAHRIFAHR2000l2000 Agenda Reporls\FAHRCJ0.100.doc Rll'lised: 8l20l98 Page2 FA HR COMM ITTEE AGE NDA REPORT Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Michael White, Controller Meeting Date To Bd. of Dir. 12/13/00 12/20/00 Item Number Item Number FAHR00-91 SUBJECT: TREASURER'S REPORT FOR THE MONTH OF NOVEMBER 2000 GENERAL MANAGER'S RECOMMENDATION Receive and file Treasurer's Report for the month of November 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 column 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. PROJECTICONTRACTCOSTSUMMARY None. 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. 1ZJ Not applicable (information item) \\radonldata1\wp.dtalfinl210\crane\FAHR\Fahr2000\Dec\TREASRPT121300.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 PIMCO -Short-term Portfolio PIMCO -Long-term Portfolio District 11 GO Bond Fund 921 Debt Service Reserves wfTrustees Petty Cash TOTAL ALTERNATIVES None. CEQA FINDINGS None. ATTACHMENTS 1 . Monthly Investment Reports 2. Monthly Transaction Report MW:lc \lradon\dala1 \wp.dtalfin\21 O\crane\F AHR\Fahr2000\Dec\TREASRPT121300.doc Revised: 8/20/98 Book Balances Estimated November 30, 2000 Yield(%) $11,819,117 6.5 394,142 N/A 1,418,000 5.9 33,879,543 6.6 353,087,177 5.4 1,723 5.8 37,670,684 6.5 8000 N/A $438 2Z8 386 Page2 Prepared by Finance, 12/12/2000, 1 :39 PM Monthly Treasurer's Report District Fund Balances $450,000,000 -------------------------------- $400,000,000 I ~ $3so,ooo,ooo I ~ ~ $300' 000' 000 -+----IV. v v ~, v ,___ ___ "'""'"'..,._ __ _.,,. $250,000,000 ~o. ·oocX)f-----(>OOoot-----t~~f---------1 $200,000,000 ~ $150,000,000 xx xx $100,000,000 ~ ooooo+--------- $50,000,000 I $0 l r:x'XXX)( I WXXXXl t.6l:y'V"y'1 D<XXXXI VVVV\N I [XXXX>' I Jun, 00 Jul, 00 Aug,00 E3 PIMCO -Long-term ~Debt Service Reserves 13 Bank Accts aJ Dist 11 GO Bond Fund G:\excel.dta\fin\2220\geggi\Finance\monthly treasurers report Sep, 00 Ill PIMCO -Short-term (]LAIF 1111 Petty Cash Oct, 00 Nov, 00 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 30 November 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 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST RA TE CHANGE Dollar Impact (gain/loss) of 1 % Change: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: (see attached schedule) 15.1.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: l Month: 3 Months: 12 Months: Year-to-Date: C01mne11tary $34,267,315 $34,269,673 $34,250, 151 $34,290,236 0.30 0.20 $102,802 0% 56% "AA+" 0% Yes Portfolio 0.58 l.72 6.62 6.11 • Interest rates at the short-end of the yield curve declined \n November (three-month T-Bills down 19 basis points to 6.20%), as did longer maturities (30-year Treasuries down 18 basis points to 5.61 %). • The Liquid portfolio outperformed its benchmark by 7 basis points in November, and outperformed by 70 basis points year-to-date. • PIMCO's emphasis on higher yielding securities such as commercial paper and short-term notes enhanced returns. H:\wp.dtaljin\220\white\Treas11ryMgmt\LlQ0800-0ctOO.RPT.doi: Index 0.51 1.54 5.86 5.41 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 30 November 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 1 % Change: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: (see attached schedule) 15.1.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: 1 Month: 3 Months: 12 Months: Year-to-Date: Commentary • Three-month yields decreased in November (90-day T-Bills down 19 basis points to 6.20%) as did longer maturitfes (5-year Treasury Notes down 38 basis poin!S to 5.43%). • The Long-Term portfolio slightly lagged the benchmark by 1 basis point in November, but has outperformed it by 64 basis points year-to-date. • PIMCO's index duration was neutral for performance. • PIMCO's focus on higher quality securities and an underweight allocation to corporates enhanced returns significantly as corporates underperformed the broader market. • An underweight allocation to Treasuries detracted from returns as the Treasury sector was the best performing segment of the market. • Holdings of mortgage backed securities were neutral for performance as this sector performed in-line with the broader market. \\rado11\datal\wp.dta)fi11\120\white\Treasury MgmtlL-T0800-0ctOO.RPT.doc $358,605,288 $358,118,626 $353,988,729 $355,87 I ,460 2.27 2.28 $8,140,340 0% 34% "AA+" 0% Yes Portfolio Index 1.14 1.15 2.59 2.53 7.91 7.34 7.96 7.32 @ L ORANGE COUNTY SANITATION DISTRICT I] OCSF0751I102 LIQUID OPER-PIMCO PORTFOLIO DISTRIBUTION CASH & CASH EQUIVALENTS PAYABLES TOTAL UNITED ST A TES COMMERCIAL PAPER-DISCOUNT TREASURY BILLS-LESS THAN IYR FEDERAL HOME LOAN MORTGAGE -LESS FNMA ISSUES -LESS THAN 1 YR FEDERAL FARM CREDIT BANK -LESS TH MUTUAL FUNDS TOT AL UNITED ST A TES TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES UNITED ST A TES U.S. AGENCIES BANKING & FINANCE INDUSTRIAL UTILITY -GAS UTILITY -TELEPHONE TOT AL UNITED STA TES TOTAL FIXED INCOME SECURITIES OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES TOTAL TOTAL OTHER PORTFOLIO ASSETS l l-Dec-2000 7:34:29 NET ASSET SECTOR SUMMARY 30-NOV-2000 COST MARKET VALUE -1,722,138.84 -1,722,138.84 -1,722, 138.84 -1,722,138.84 5,013,311 .50 5,013,311.50 6,603,640.56 6,603,640.56 5,630,623.78 5,630,623. 78 6,400,832.41 6,400,832.41 199,641.67 199,641.67 8,535.35 8,535.35 23,856,585.27 23,856,585.27 22, 134,446.43 22,134,446.43 370,681.06 373,672.00 8,265,381 .50 8,272,580.15 I, 125,590.00 1,102,384.00 495,845.00 499,170.00 1,508,162.20 1,497,290.60 11,765,659.76 11,745,096.75 ll,765,659.76 11,745,096.75 390,130.21 390,130.21 390,130.21 390,130.21 390,130.21 390,130.21 %OF TOTAL -5.03% -5.03% 14.63% 19.27% 16.43% 18.68% 0.58% 0.02% 69.61% 64.59% 1.09% 24.14% 3.22% 1.46% 4.37% 34.27% 34.27% 1.14% 1.14% 1.14% PAGE: BASE: USD FINAL UNREALIZED GAIN/LOSS 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,990.94 7,198.65 -23,206.00 3,325.00 -10,871.60 -20,563.01 -20,563.01 0.00 0.00 0.00 Executive Workbench II ORANGE COUNTY SANITATION DISTRICT II OCSF0751l102 LIQUID OPER-PIMCO PORTFOLIO DISTRIBUTION NET PORTFOLIO ASSETS I J-Dec-2000 7:34:29 NET ASSET SECTOR SUMMARY 30-NOV-2000 COST MARKET VALUE 34,290,236.40 34,269,673.39 %OF TOTAL 100.00% PAGE: 2 BASE: USD FINAL UNREALIZED GAIN/LOSS -20,563.01 Executive Workbench @ II ORANGE COUNTY SANITATION DISTRICT II PAGE: BASE: USD NET ASSET SECTOR SUMMARY OCSF07522202 30-NOV-2000 FINAL LONG TERM OPER-PIMCO %OF UNREALIZED PORTFOLIO DISTRIBUTION COST MARKET VALUE TOTAL GAIN/LOSS CASH & CASH EQUIVALENTS CASH -3 .00 -3.00 0.00% 0.00 RECEIVABLES 20, 100,569.38 20, 100,569.38 5.61% 0.00 PAYABLES -54,201,445.32 -54,201 ,445.32 -15.14% 0.00 TOTAL -34, 100,878. 94 -34,100,878.94 -9.52% 0.00 UNITED ST A TES COMMERCIAL PAPER-DISCOUNT 48,426,811.55 48,426,811.55 13.52% 0.00 FEDERAL HOME LOAN MORTGAGE -LESS 1,282,204.44 1,282,204.44 0.36% 0.00 FNMA ISSUES -LESS THAN 1 YR 1,090,026.67 1,090,026.67 0.30% 0.00 MUTUAL FUNDS 277,498.46 277,498-46 0.08% 0.00 TOT AL UNITED ST A TES 51,076,541.12 51,076,541.12 14.26% 0.00 TOTAL CASH & CASH EQUIVALENTS 16,975,662.18 16,975,662.18 4.74% 0.00 FIXED INCOME SECURITIES UNITED ST A TES U.S. GOVERNMENTS 12,332,187.50 12,830,890.00 3.58% 498,702.50 INFLATION INDEXED SECURITIES 33,226,583.35 33,533,277.26 9.36% 306,693.91 U.S. AGENCIES 116,119,923.98 117,854,935.00 32.91% 1,735,011.02 GNMA SINGLE FAMILY POOLS 34,303,320.32 34,409,252.50 9.61% 105,932.18 GNMA MULTI FAMILY POOLS 13 ,893 ,863 .45 14,012,955.43 3.91% 119,091.98 FHLMCPOOLS 8,021,366.83 7,892,616.36 2.20% -128, 750.47 FHLMC MULTI CLASS 4,846,679.01 4, 770,439.11 1.33% -76,239.90 ASSET BACKED SECURITIES 7,098.10 7,091.44 0.00% . -6.66 ABS: HOME EQUITY 155,029.18 154,689.67 0.04% -339.51 MUTUAL FUNDS 1,000,000.00 996,070.00 0.28% -3,930.00 BANKING & FINANCE 73,681,581.41 73,515,262.94 20.53% -166,318.47 INDUSTRIAL 7, 126, 189.00 6,980,277.80 l.95% -145,911.20 UTILITY -ELECTRIC . 8,096,080.00 8,035,690.00 2.24% -60,390.00 UTILITY -GAS 7,300,000.00 7,305,694.00 2.04% 5,694.00 UTILITY -TELEPHONE 7,497,255.00 7,404,825.00 2.07% -92,430.00 G. 0. CITY/MUNI 1,723,280.00 1,795,040.00 0.50% 71,760.00 TRANSPORTATION 2,903,436.90 2,903,436.90 0.81% 0.00 HOSPITAL 1,630,474.05 1,709,071.50 0.48% 78,597.45 l 1-Dec-2000 7:38:05 E:xecutive Workbench @ c ---ORANGE COUNTY SANITATION DISTRICT II OCSF07522202 LONG TERM OPER-PIMCO PORTFOLIO DISTRIBUTION TOT AL UNITED STATES TOTAL FIXED INCOME SECURITIES OTHER PORTFOLIO ASSETS PAYABLES/RECEIVABLES TOTAL TOTAL OTHER PORTFOLIO ASSETS NET PORTFOLIO ASSETS 11-Dec-2000 7:38:05 NET ASSET SECTOR SUMMARY 30-NOV-2000 COST MARKET VALUE 333,864,348.08 336,l l l,514.91 333,864,348.08 336,l I 1,514.91 5,031,449.68 5,031,449.68 5,031,449.68 5,031 ,449.68 5,031,449.68 5,031,449.68 355,871,459.94 358,118,626. 77 %OF TOTAL 93.85% 93.85% l.40% 1.40% 1.40% 100.00% PAGE: 2 BASE: USD FINAL UNREALIZED GAIN/LOSS 2,247,166.83 2,247,166.83 0.00 0.00 0.00 2,247,166.83 Executive Workbench YLDANAL YIELD ANALYSIS PAGE : 1 OCSF07511102 2000/11/30 RUN DATE : 12/06/00 DISTRICT: LIQUID OPERATING RUN TIME : 09.28.12 -= ---------------------=~=:-::.=====:=::=:::::: PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -------------------------~-----------~-----------------.----------~ ---------- CASH & CASH EQUIVALENTS 8,535.35 DREYFUS TREASURY CASH MGMT .ooo 6.325 AAA 100.000 8,535.35 .03 996085247 AAA 8,535.35 .02 6,800,000.00 U S TREASURY BILL 6.297 .000 P-1 97 .112 6,603,640.56 27.68 912795GC9 04/19/2001 DD 10/19/00 A-1+ 6,603,640.56 18.55 200,000.00 FEDERAL FARM CR BK CONS SYSTEM 6.462 .000 P-1 99.821 199,641.67 .83 313312R69 MAT 12/01/2000 A-1+ 199,641.67 .56 673,000.00 FEDERAL NATL MTG ASSN DISC NT 6. 464 .000 P-1 99.004 666,299.91 2.79 313588S48 MAT 12/07/2000 A-1+ 666,299.91 1. 87 2,300,000,00 FEDERALN HOME LN MTG ASSN DISC 6.506 .000 P-1 99.140 2,200,220.00 9.55 313397AJO MAT 01/09/2001 A-1+ 2,200,220.00 6.40 5,aoo,ooo.oo FEDERAL NATL MTG ASSN DISC NTS 6.524 .ooo P-1 98. 871 5,734,532.50 24.03 313589AD5 MAT 01/04/2001 A-1+ 5,734,532.50 16 .11 2,300,000.00 FEDERAL HOME LN MTG CORP DISC 6 .541 .ooo P-1 98.462 2,264,615.78 9.49 313397BH3 MAT 02/01/2001 A-1+ 2,264,615.78 6.36 1,100,000.00 FEDERAL HOME LN MTG CORP DISC 6.545 .000 P-1 98.708 1,085,788.00 4.55 313397AL5 MAT 01/11/2001 A-1+ 1,085,788.00 3.05 900,000.00 VERIZON GLOBL FDG DISC 6.568 .000 98.508 886,574.75 3. 71 92344AMCO 12/12/2000 886,574.75 2.49 600,000.00 GMAC DISC 6.640 .000 P-1 98.941 593,649.00 2.48 37042DNJ8 01/18/2001 593,649.00 1. 67 900,000.00 HEINZ H J CO DISC 6. 642 .ooo P-1 97.869 880,825.00 3.69 42307JNN6 01/22/2001 880,825.00 2.47 900,000.00 MOTOROLA INC DISC 6.645 .ooo P-1 98.419 885,775.50 3. 71 62008APP8 02/23/2001 885,775.50 2.49 900,000.00 GENERAL ELEC CAP DISC 6. 663 .ooo P-1 98.308 884,771.25 3.70 36959HNK9 01/19/2001 884, 771.25 2.49 900,000.00 DAIMLERCHRYSLER DISC 6.665 .000 97.968 881,716.00 3.69 2338EONXO 01/31/2001 881,716.00 2.48 YLDANAL OCSF075lll02 DISTRICT: LIQUID OPERATING ===.====-==---------------------- PAR VALUE SECURITY ID SECURITY DESCRIPTION TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES 500,000.00 37042WRTO 900,000.00 370442AH8 500,000.00 44922YAR9 100,000.00 3134A05P3 500,000.00 362320AQ6 100,000.00 00206HL44 440,000.00 345370AY6 1,002,000.00 98155KAF9 1,000,000.00 89350LHS4 175,000.00 12560QAK5 500,000.00 90269QAF6 200,000.00 42333HKJO 200,000.00 122014AD5 GMAC MTN 000378 5.800% 04/09/2001 DD 04/08/98 GENERAL MTRS CORP NTS 9.625% 12/01/2000 DD 12/01/90 IBM CR CORP MTN #TR 00016 6.640% 10/29/2001 DD 10/29/99 FEDERAL HOME LN MTG CORP DEBS 6.440% 08/21/2001 DD 08/21/96 GTE CORP DEB 9.375% 12/01/2000 AT&T CAPITAL CORP MTN 7.000% 08/15/2001 DD 08/20/99 FORD MTR CO DEL 9.000% 09/15/2001 DD 09/15/91 WORLDCOM INC SR NTS 6.125% 08/15/2001 DD 08/11/98 TRANSAMERICA FIN CORP MTN 6.125% 11/01/2001 DD 11/04/98 CIT GROUP HLDGS MTN # SR 00010 5.625% 02/02/2001 DD 02/02/96 UGI UTILS INC MTN #TR 00006 6.170% 03/06/2001 DD 03/06/98 HELLER FINANCIAL INC NTS 5.750% 09/25/2001 DD 09/25/98 BURLINGTON RES INC NT 8.500% 10/01/2001 DD 10/17/91 YTM AT BOOK 6.434 6.223 6 .425 6.569 6.576 6.669 6.830 6.844 6. 845 6.852 6. 86 2 6.899 6.943 6.960 YIELD ANALYSIS 2000/11/30 PAGE RUN DATE RUN TIME 2 12/06/00 09 .28.12 =w==---====--===-==-==~=:======================================= CURRENT MOODY MARKET YIELD S-P PRICE .004 5.819 9.625 6.628 6.437 9.375 6.987 8 .847 6 .154 6.161 5.640 6,180 5.795 8.400 A2 A A2 A Al A+ AAA AAA A2 A+ Al A+ A2 A A3 A- A3 A- Al A+ A3 A- A3 A- A3 A- 99.667 100.000 100.187 100.047 100.000 100.187 101. 7 33 99.530 99.420 99.731 99.834 99.222 101.192 TOTAL COST/ MARKET VALUE 23,856,585.27 23,856,585 .27 498,260.00 498,335.00 922,860.00 900,000.00 500,268.50 500,935.00 99,892.00 100,047.00 512,080.00 500,000.00 700,707.00 701,309.00 448,219.20 447,625.20 996,082.20 997,290.60 993,340.00 994,200.00 173,383.00 174,529.25 495,845.00 499,170.00 197,772.00 198,444.00 202,730.00 202,384.00 % TYPE % TOTAL 100.00 67.01 4.24 1. 40 7.66 2.53 4.26 1. 41 .85 .28 4.25 1. 40 5.97 1. 97 3.81 1.26 8.49 2.80 8.46 2.79 1. 48 .49 4. 25 1. 40 1. 68 .56 1. 72 .57 YLDANAL YIELD ANALYSIS PAGE : 3 OCSF07511102 2000/11/30 RUN DATE : 12/06/00 DISTRICT: LIQUID OPERATING RUN TIME : 09.28.12 -= ----·-- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -~-----------------------~-----~--~--~--~ ------·---------------~----------------------- 250,000.00 CHASE MANHATTAN CORP NEW SUB 6.984 9.255 Al 101.296 254,730.00 2.15 16161ABL1 9.375% 07/01/2001 DD 07/01/89 A 253,240.00 .71 275,000.00 FEDERAL HOME LN BK CONS BOS 7.058 5.166 AAA 99.500 270,789.06 2.32 3133M6EA2 5.140% 05/02/2001 DD 11/02/98 AAA 273,625.00 .77 500,000.00 BANPONCE FINL CORP MTN #00081 7.316 6.762 A3 99.820 496,495.00 4.24 06670QDJ4 6.750% 08/09/2001 DD 08/09/96 BBB+ 499,100.00 1. 40 1,000,000.00 ARISTAR INC SR NT 7.346 7.747 A3 100.041 1,003,830.00 8.51 040420AT8 7.750% 06/15/2001 DD 07/07/94 A-l,000,410.00 2.81 1,000,000.00 FLEET/NORSTAR FINL GROUP INC 7. 365 9.762 A3 101. 415 1,024,020.00 8.63 339018AD5 9.900% 06/15/2001 DD 06/24/91 A-1,014,150.00 2.85 575,000.00 FCC NATL BK DE MTN # TR 00284 7.426 6.382 AA2 99.890 570,262.00 4.89 30241NMV4 6.375% 03/15/2001 DD 03/14/96 AA-574,367.50 1.61 420,000.00 BANKAMERICA CORP SR NT 7. 441 6.656 AA2 99.906 417,034.80 3.57 066050CJ2 6.650% 05/01/2001 DD 05/01/96 A+ 419,605.20 1.18 l,000,000.00 DONALDSON LUFKIN & JEN TROOOll 7.530 6.133 Al 99.633 987,060.00 8.48 25766CAL8 6.110% 05/15/2001 DD 05/27/98 A-996,330.00 2.80 -------------·---------~~-------------- TOTAL FIXED INCOME SECURITIES 6. 771 7 .371 11,765,659.76 100.00 11,745,096.75 32.99 ----------~--~--~--~ TOTAL 6.558 2. 716 35,622,245.03 100.00 35,601,682.02 100.00 ===·=::..=.===..==-=-=== ==--=== YLDANAL YIELD ANALYSIS PAGE : 4 OCSF07522202 2000 /11/30 RUN DATE : 12/06/00 DISTRICT: LONG-TERM OPERATING RUN TIME : 09.28.12 --=== ----------- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL --------------~~---------------------------------------------------------------------- CASH & CASH EQUIVALENTS 277,498.46 DREYFUS TREASURY CASH MGMT .ooo 6.325 AAA 100.000 277 I 498 • 46 .54 996085247 AAA 277,498.46 .07 1,100,000.00 FEDERAL NATL MTG ASSN DISC NT 6.459 .ooo P-1 99.093 1,090,026.67 2.13 313588S48 MAT 12/07/2000 A-1+ 1,090,026.67 .28 1,300,000.00 FEDERAL HOME LN MTG CORP DISC 6.489 .000 P-1 98.631 1,282,204.44 2.51 313396U27 MAT 12/21/2000 A-1+ 1,282,204.44 .33 5,700,000.00 CAMPBELL SOUP CO DISC 6.564 .000 P-1 98.562 5,618,046.67 10 .99 13443AM77 12/07/2000 5,618,046.67 1. 45 1,000,000.00 VERIZON GLOBL FDG DISC 6. 568 .000 98.508 985,083.06 1. 92 92344AMCO 12/12/2000 985,083.06 .25 11,300,000.00 HONEYWELL INTL DISC 6.576 .000 98.241 11,101,283.22 21. 73 43851RMF4 12/15/2000 11,101,283.22 2.87 7,600,000.00 MINNSTA MNG & MFG DISC 6.579 .ooo P-1 98.488 7,485,088.00 14.65 60406AMK4 12/19/2000 7,485,088.00 1. 93 7,100,000.00 AMERICAN TEL & TL DISC 6.603 .000 P-1 98.447 6,989,752.78 13.68 03018AMDO 12/13/2000 6,989,752.78 1.81 1,200,000.00 GMAC DISC 6.622 .000 P-1 98.603 1,183,239.67 2.31 37042DNH2 01/17/2001 1,183,239.67 .31 800,000.00 DAIMLERCHRYSLER DISC 6.629 .000 98.210 785,678.00 1.53 2338EOML7 12/20/2000 785,678.00 .20 6,200,000.00 GENERAL ELEC CAP DISC 6.638 .000 P-1 98.367 6,098,785.00 11. 94 36959HNA1 01/10/2001 6,098,785.00 1.58 1,000,000.00 GMAC DISC 6.639 .000 P-1 98.816 988,155.56 1. 93 37042DNQ2 01/24/2001 988,155.56 .26 1,900,000.00 DU PONT DE NEMOUR DISC 6.646 .000 P-1 97.957 1,861,175.09 3.64 26354AM68 12/06/2000 1,861,175.09 .48 3,400,000.00 ASSOCIATES CP NA DISC 6.654 .ooo P-1 98.741 3,357,185.50 6.57 04600JNJ9 01/18/2001 3,357,185.50 .87 YLDANAL YIELD ANALYSIS PAGE : 5 OCSF07522202 2000/11/30 RUN DATE : 12/06/00 DISTRICT: LONG-TERM OPERATING RUN TIME : 09.28.12 ================================================================================·~- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MAR.KET VALUE % TOTAL ---------------------·-------------~------------------------------------------- 1,100,000.00 BECTON DICKINSON DISC 6.656 .000 P-1 98.704 1,085,746.75 2.12 07588RNX9 01/31/2001 1,085,746.75 .28 900,000.00 DAIMLERCHRYSLER DISC 8 .11-7 .ooo 98.621 887,592.25 1. 73 2338EONXO 01/31/2001 887,592.25 .23 ------------·----------------------------TOTAL CASH & CASH EQUIVALENTS 6.520 .061 51,076,541.12 100.00 51, 076, 541.12 13.20 FIXED INCOME SECURITIES 281,250.35 FHLMC GROUP #78-6064 .ooo 6.454 AAA 98.609 274,394.89 .00 31348SWZ3 6.384% 01/01/2028 DD 12/01/97 AAA 277,338.16 .07 1,225,492.34 GNMA II POOL #0080395 .ooo 6 .471 AAA 100.453 1,214,386.31 .36 36225CNM4 6.500% 04/20/2030 DD 04/01/00 AAA 1,231,043.82 .32 9 1 858,143.92 GNMA II POOL #080408X .000 6.471 AAA 100.453 9,758,022.15 2.94 36225CN28 6.500% 05/20/2030 DD 05/01/00 AAA 9,902,801.31 2.56 8,891,837.00 US TREASURY INFLATION INDEX NT 3. 715 3.623 AAA 100.062 8,862,417.19 2.64 9128273A8 3.625% 07/15/2002 DD 07/15/97 AAA 8,897,349.94 2.30 25,210,990.00 US TREASURY INFLATION INDEX NT 3.818 3.454 AAA 97. 719 24,364,166.16 7.32 9128272M3 3.375% 01/15/2007 DD 01/15/97 AAA 24,635,927.32 6.36 1,894,350.00 SALOMON SMITH BARNEY HLDGS INF 4.705 3.689 AA3 98.948 1,860,449.21 .55 79549BBG1 3.650% 02/14/2002 DD 02/14/97 A 1,874,421.44 .48 3,030,000.00 PORT AUTH NY & NJ 5. 649 5.609 AAA 95.823 2,903,436.90 .86 733581YS5 5.375% 10/15/2035 DD 10/15/00 AAA 2,903,436.90 .75 1,5001 000.00 ASSOCIATES CORP N A SR NTS 5.650 6.523 AA3 99.645 1,543,215.00 .44 046003HY8 6.500% 07/15/2002 DD 07/11/97 A+ 1,494,675.00 ,39 3,950,000.00 GMAC NTS 5.752 6 .911 A2 99.246 3,918,768.50 1.16 370425QV5 FLTG RT 08/18/2003 DD 08/17/98 A 3,920,217.00 1. 01 1,000,000.00 HELLER FINANCIAL INC NTS 5.760 5. 795 A3 99.222 999,730.00 .29 42333HKJO 5.750% 09/25/2001 DD 09/25/98 A-992,220.00 .26 1,000,000.00 HOUSEHOLD FIN MTN SR #00570 5.775 6.899 A2 100.143 999,188.90 .29 44181KZT4 FLTG RT 08/01/2001 DD 09/04/98 A 1,001,430.00 .26 YLDANAL YIELD ANALYSIS PAGE : 6 OCSF07522202 2000/11/30 RUN DATE : 12/06/00 DISTRICT: LONG-TERM OPERATING RUN TIME : 09.28.12 -----------·----------·----------= PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -~~-~----~--~ ----··------------------------------------------------------------ 2,005,000.00 SEARS ROEBUCK ACCEP CORP MTN 5.804 6.596 A3 99.156 2,060,739.00 .59 81240QGW6 6.540% 02/20/2003 DD 02/20/97 A-1,988,077.80 .51 3,000,000.00 SEARS ROEBUCK ACCEP CORP MTN 5.849 6.630 A3 100.000 3,073,170.00 .89 81240QJA1 6.630% 07/09/2002 DD 07/09/97 A-3,000,000.00 .77 14,500,000.00 COMMIT TO PUR GNMA SF MTG 5. 861 6.665 AAA 97.531 14,121,953.13 4.20 01N062615 6.500% 01/15/2030 AAA 14,141,995.00 3.65 2,000,000.00 BANKERS TR NY CORP GLOBAL NT 5.881 6.850 Al 99.544 1,992,800.00 .59 066365DW4 FLTG RT 05/11/2003 DD 05/11/98 A-1,990,880.00 .51 113,161.50 FHLMC MULTICL MTG P/C 1574 E 5.912 5.919 99.687 113,002.37 .03 3133T02D5 5.900% 06/15/2017 112,807.30 .03 1,945,000.00 NEW JERSEY HLTH CARE SER B 5.942 5.406 AAA 87.870 1,630,474.05 .so 64579ERMO 4.750% 07/01/2028 DD 12/01/98 AAA 1,709,071.50 .44 15,ooo,ooo.oo FEDERAL NATL MTG ASSN MTN 5.981 5.839 AAA 99.672 14,955,300.00 4.44 31364G2VO 5.820% 07/19/2001 DD 07/19/99 AAA 14,950,800.00 3.86 2,500,000.00 MERRILL LYNCH NOTES 5.995 6.388 AA3 99.793 2,526,725.00 .74 59018SXP4 6.375% 10/01/2001 DD 10/03/97 AA-2,494,825.00 .64 2,000,000.00 MONTGOMERY ALA BMC SER B 6.001 5.571 AAA 89.752 1,723,280.00 .53 613041GH9 5.000% 11/15/2029 DD 12/01/98 AAA 1,795,040.00 .46 7,500,000.00 BELLSOUTH TELECOMMUNICATIONS 6.010 6 .077 AA2 98.731 7,497,255.00 2.20 079867AX5 6.000% 06/15/2002 DD 06/15/98 AAA 7,404,825.00 1. 91 12,soo,000.00 FEDERAL HOME LN MTG CORP DEBS 6.062 6.020 AAA 99.675 12,485,625.00 3.70 3134A3ZM1 6.000% 07/20/2001 DD 07/20/99 AAA 12,459,375.00 3.22 6,250,000.00 COMMIT TO PUR GNMA SF MTG 6.096 6.291 AAA 95.375 5,932,617.19 1. 77 01N060619 6.000% 01/15/2030 AAA 5,960,937.50 1. 54 2,000,000.00 BANKBOSTON CORP SR NTS 6 .133 6 .169 A2 99.293 1,999,600.00 .59 06605TAL6 6.125% 03/15/2002 DD 03/12/99 A 1,985,860.00 .51 9,500,000.00 U S TREASURY BONDS 6.134 6.479 AAA 135. 062 12,332,187.50 3.81 912810EG9 08.750% 08/15/2020 DD 08/15/90 AAA 12,830,890.00 3.31 l,S00,000.00 CHRYSLER FINL LLC MTN #TR00615 6.154 6.756 Al 100.062 1,499,415.00 .44 17120QE80 FLTG RT 08/08/2002 DD 04/08/98 A+ 1,500,930.00 .39 YLDANAL YIELD ANALYSIS PAGE : 7 OCSF07522202 2000/11/30 RUN DATE : 12/06/00 DISTRICT: LONG-TERM OPERATING RUN TIME : 09.28.12 ------------=====:==:========:::::.========-::::=..=::============:::::::::=:=:::;::== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ------------------------------~--------------------------------------------------------- 1,100,000.00 MORGAN STANLEY MTN tTR 00311 6.180 7.649 AA3 100.125 1,699,517.20 .so 61745ENY3 FLTG RT 01/28/2002 DD 01/27/00 AA-1,702,125.00 .44 7,098.11 FIFTH THIRD BK AUTO TR 96A CLA 6.200 6.206 AAA 99 .906 7,098.10 .oo 31677EAA4 6.200% 09/01/2001 DD 03/15/96 7,091.44 .00 l,000,000.00 POPULAR INC MTN #TR 00004 6.201 6.224 A3 99.607 1,000,000.00 .29 73317PAD1 6.200% 04/30/2001 DD 04/21/99 BBB+ 996,070.00 .26 2,000,000.00 FORD MTR CR CO TERM ENHANCED 6. 221 6 .213 A2 99.953 1,998,613.60 .59 345397SC8 FLTG RT 08/27/2006 DD 08/27/98 A 1,999,060.00 .52 3,000,000.00 CONSOLIDATED EDISON N Y DEBS 6.271 6.182 Al 99.992 2,994,300.00 .89 209111CU5 FLTG RT 06/15/2002 DD 06/20/97 A+ 2,999,760.00 • 77 155,029.18 GREEN TREE CORP 99-D CL A-1 6.290 6.304 AAA 99.781 155,029.18 .04 3935052Y7 6.290% 10/15/2013 DD 08/26/99 AAA 154,689.67 .04 4,soo,ooo.oo FEDERAL NATL MTG ASSN MTN 6.291 6.228 AAA 100.031 4,488,705.00 1. 33 31364CXV5 6.230% 03/01/2002 DD 03/03/97 AAA 4,501,395.00 1. 16 3,000,000.00 HELLER FINL MTN #TR 00246 6.300 6.333 A3 99.484 3,000,000.00 .88 42333HLF7 FLTG RT 04/28/2003 DD 04/27/99 A-2,984,520.00 • 77 3,800,000.00 GENERAL MTRS ACCEP #TR 00562 6.303 6. 272 A2 99.796 3,793,958.00 1.12 37042WZKO FLTG RT 02/14/2003 DD 02/14/00 A 3,792,248.00 .98 2,729,803.18 FHLMC MULTICLASS CTF E3 A 6.316 6.987 AAA 97.395 2,732,788.64 .79 3133TCE95 VAR RT 08/15/2032 AAA 2,658,691.81 .69 2,410,029.37 GNMA GTD REMIC TR 2000-9 FH 6.320 6.295 AAA 100.391 2,410,029.37 . 71 3837H4NX9 VAR RT 02/16/2030 AAA 2,419,452.58 .62 2,000,000.00 BEAR STEARNS COS INC 6.330 6.778 A2 99.583 2,031,960.00 .59 073902AH1 6.750% 04/15/2003 A 1,991,660.00 .51 3,000,000.00 FORD MTR CR CO GLOBAL LANDMARK 6.350 6.996 A2 99.593 3,000,000.00 .88 345397SR5 FLTG RT 03/17/2003 DD 03/16/00 A 2,987,790.00 • 77 2,000,000.00 FORD MTR CR CO GLOBAL NTS 6 .351 6.873 A2 99.593 1,992,580.00 .59 345397RV7 FLTG RT 02/13/2003 DD 02/13/98 A 1,991,860.00 .51 29,100,000.00 FEDERAL HOME LN BK CONS BDS 6.404 6.756 AAA 101. 766 29,443,671.00 8.81 3133MBY84 6.875% 08/lS/2003 DD 08/07/00 AAA 29,613,906.00 7.65 YLDANAL YIELD ANALYSIS PAGE : 8 OCSF07522202 2000/11/30 RUN DATE : 12/06/00 DISTRICT: LONG-TERM OPERATING RUN TIME : 09.28.12 ~~~~==--=============~======-==~==-=============-==========~~==========--====================================================== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ~----------------------------------------------------------------------------------- 4,000,000.00 HOUSEHOLD FIN CO MTN 6. 440 6.493 A2 99.186 4,000,000.00 1.18 44181KZA5 FLTG RT 06/24/2003 DD 06 /24/98 A 3,967,440.00 1. 02 2,000,000.00 FHLMC MULTICLASS CTF Tll A6 6.496 6.503 AAA 99.947 2,000,8BB.OO .59 3133TDPV2 6.500% 09/25/2018 AAA 1,998,940.00 .52 2,508,609.B6 FHLMC MULTICLASS CTF SER l620Z 6.504 6.96B AAA 86.104 2,352,469.92 .64 3133Tl7A4 6.000% 11/15/2023 DD 11/01/93 AAA 2,160,013.43 .56 2,000,000.00 HELLER FINANCIAL INC NTS 6.507 7.029 A3 100. 046 2,000,000.00 .59 423328BKB FLTG RT 06/25/2001 DD 06/25/99 A-2,000,920.00 .52 5,000,000.00 SALOMON SB HLDGS MTN 6.625 6.967 AA3 99.937 5,000,000.00 1. 48 79548EEEB FLTG RT 04/28/2003 DD 04/28/00 A 4,996,850.00 1. 29 7,627,787.77 FHLMC GROUP #G5-0476 6.628 7 .011 AAA 99.836 7, 746,971.94 2.26 3128DDQ55 7.000% 02/01/2003 DD 02/01/98 AAA 7,615,278.20 1.97 2,300,000.00 LEHMAN BROS HLDGS MTN TR 00333 6.672 7.676 A2 100.512 2,322,379.00 .68 52517PPW5 FLTG RT 04/01/2002 DD 03/29/99 A 2,311,776.00 .60 5,000,000.00 LEHMAN BROS HLDGS MTN 6.674 7.312 A2 100.515 5,000,000.00 1.49 52517PQQ7 FLTG RT 12/12/2002 DD 12/07/99 A 5,025,750.00 1. 30 1,662,724.17 GNMA II POOL #080088M 6,705 6.351 AAA 100.375 1,699,096.27 .49 36225CC20 VAR RT 06/20/2027 DD 06/01/97 AAA 1,668,959.39 .43 10,500,000.00 FEDERAL HOME LN MTG CORP DEBS 6. 711 6.372 AAA 98.875 10,323,075.00 3.08 3134A3TCO 6.300% 06/01/2004 DD 06/01/99 AAA 10,381,875.00 2.68 2,000,000.00 MARSH & MCLENNAN COS INC SR NT 6.717 6.651 A2 99.610 1,992,280.00 .59 571748AB8 6.625% 06/15/2004 DD 06/14/99 AA-1,992,200.00 .51 3,000,000.00 FORD MTR CR CO GLOBAL LANDMARK 6.739 6.762 A2 99.077 2,995,0BO.OO .BB 345397SJ3 6.700% 07/16/2004 DD 07/16/99 A 2,972,310.00 .77 900,000.00 FEDERAL HOME LN BK CONS BDS 6. 777 6. 711 AAA 100.578 899,550.00 .26 3133MAQJ1 6.750% 02/01/2002 DD 02/01/00 AAA 905,202.00 .23 s,4so,ooo.oo CIT GRP INC MTN #SR 00042 6.810 6.813 Al 99.953 5,450,000.00 1. 62 12560PBT7 FLTG RT 09/13/2002 DD 09/01/00 A+ 5,447,438.50 1.41 2,500,000.00 COUNTRYWIDE HOME LNS INC NT 6.866 6.935 A3 98.771 2,498,400.00 .73 22237UAB8 6.850% 06/15/2004 DD 06/24/99 A 2,469,275.00 .64 YLDANAL YIELD ANALYSIS PAGE 9 OCSF07522202 2000/11/30 RUN DATE 12/06/00 DISTRICT: LONG-TERM OPERATING RUN TIME 09.28.12 ===========================---~ ======= ---- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ------------------------------------------------------------------------------------ 7,300,000.00 ONEOK INC NEW NT 6.960 7.405 A2 100.078 7,300,000.00 2.17 682680AJ2 FLTG RT 04/24/2002 DD 04/24/00 A 7,305,694.00 1. 89 1,202,443.25 GNMA II POOL #0080023 6.992 7.080 AAA 100.641 1,222,358.72 .36 36225CAZ9 7.125% 12/20/2026 DD 12/01/96 AAA 1,210,150.91 .31 2,000,000.00 GNMA GTD REMIC TR 2000-2 PA 7.014 6 .977 AAA 100.328 1,996,875.00 .59 3837H3C70 7.000% 12/20/2022 AAA 2,006,560.00 .52 1,000,000.00 OLD KENT BK MTN SB 00001 7.084 7.532 A2 99.687 7,000,000.00 2.07 67982XAA6 VAR RT 11/01/2005 DD 04/28/00 A-6,978,090.00 1. 80 2,100,000.00 FEDERAL NATL MTG ASSN DEBS 7 .113 6.547 AAA 101.187 2,030,133.00 .63 31359MEY5 6.625% 09/15/2009 DD 09/01/99 AAA 2,124,927.00 .55 2,000,000.00 LONG ISLAND LTG CO DEB 7.512 8.378 BAA3 97.871 2,151,250.00 .58 542671CT7 8.200% 03/15/2023 DD 03/28/93 A-1,957,420.00 .51 1,304,548.42 GREYSTONE SVCNG CORP FHA #95-7 7.564 7.601 AAA 97.750 1,285,489.78 .37 39810#AE4 7.430% 06/01/2003 DD 02/29/00 AAA 1,275,196.08 .33 1,000,000.00 FORD MOTOR CR CO NT 7.582 6.867 A2 98.290 965,170.00 .29 345397GV9 6.750% 05/15/2005 A 982,900.00 .25 971,705.13 WMP/HUNTOON PAIGE #000-11150 7.684 7.667 AAA 97.828 950,600.91 .28 302998GE3 7.500% 12/01/2030 DD 10/21/99 AAA 950,600.91 .25 3,000,000.00 PACIFICORP SECD MTN #TR 00115 7.709 7 .114 A2 102.617 2,950,530.00 • 91 69512EEU5 7.300% 10/22/2004 DD 10/22/92 A 3,078,510.00 .80 35,200,000.00 FEDERAL NATL MTG ASSN MTN 7. 724 6.709 AAA 96.891 32,498,400.00 10.14 31364GYJ2 6.500% 03/12/2009 DD 03/12/99 AAA 34,105,632.00 8.81 14,000,000.00 COMMIT TO PUR GNMA SF MTG 7.794 7.829 AAA 102.188 14,248,750.00 4.25 01N0806C3 8.000% 12/15/2030 AAA 14,306,320.00 3.69 1,600,000.00 ALLSTATE CORP SR NT 7.967 7.600 Al 103.612 1,594,032.00 .49 020002AL5 7.875% 05/01/2005 DD 05/01/00 A+ 1,657,792.00 .43 -----------·-------------------~ --------- TOTAL FIXED INCOME SECURITIES 5.318 5.881 333,864,348.08 100.00 336,111,514.91 86.79 YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING PAR VALUE SECURITY ID SECURITY DESCRIPTION TOTAL YTM AT BOOK 5.364 YIELD ANALYSIS 2000/11/30 CURRENT MOODY MARKET YIELD S-P PRICE 5.657 PAGE RUN DATE RUN TIME TOTAL COST/ MARKET VALUE 384,940,889.20 387,188,056.03 10 12/06/00 09.28.12 % TYPE % TOTAL 100.00 100.00 @ OCSGOOO 10000 OCSD-CONSOL!DATED SHARES/PAR SECURITY ID TRANSCODE [I -ORANGE COUNTY SANITATION DISTRICT ------II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER TRADE DATE/ SETTLDATE/ COMPLDATE RECEIPTS AND DISBURSEMENT TRANSACTIONS OTHER ADMINISTRATIVE EXPENSES PURCHASES 0.00 NA9123459 cw 0.00 NA9123459 cw CASH & CASH EQUIVALENTS 13,965.00 996085247 8 13,965.00 996085247 FC 1,200,000.00 37042DNH2 8 J l-Dec-2000 7:40:05 LIQUID OPER-PIMCO FED WIRE FEES OCT LONG TERM OPER-PIMCO FED WIRE FEES OCT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO GMAC DISC 01/l 7/2001 GOLDMAN SACHS & CO, NY 06-Nov-2000 06-Nov-2000 06-Nov-2000 06-Nov-2000 0 l-Nov-2000 01-Nov-2000 Ol-Nov-2000 Ol-Nov-2000 01-Nov-2000 0 l-Nov-2000 Ol-Nov-2000 PAGE: 1 AMOUNT/ COST/ GAIN/LOSS -5.10 0.00 0.00 -11.05 0.00 0.00 -13,965.00 13,965.00 0.00 -13,965.00 0.00 0.00 -1, 183,239.67 1,183,239.67 0.00 Executive Workbench OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 1,200,000.00 37042DNH2 FC 2,016.60 996085247 B 2,016.60 996085247 FC 5,800,000.00 313589AD5 B 5,800,000.00 313589AD5 FC 6,667.63 996085247 B 6,667.63 996085247 FC 1 l-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO GMAC DISC 01/17/2001 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO FEDERAL NATL MTG ASSN DISC N MAT 01 /04/2001 GOLDMAN SACHS & CO, NY LIQUID OPER-PIMCO FEDERAL NATL MTG ASSN DISC N MAT 0110412001 GOLDMAN SACHS & CO. NY LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT TRADE DATE/ SETTLDATE/ COMPLDATE 01-Nov-2000 Ol-Nov-2000 Ol-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 03-Nov-2000 03-Nov-2000 03-Nov-2000 03-Nov-2000 03-Nov-2000 PAGE: 2 AMOUNT/ COST/ GAIN/LOSS -1, 183,239.67 0.00 0.00 -2,016.60 2,016.60 0.00 -2,016.60 0.00 0.00 -5, 734,532.50 5, 734,532.50 0.00 -5, 734,532.50 0.00 0.00 -6,667.63 6,667.63 0.00 -6,667.63 0.00 0.00 Executive Workbench @ OCSGOOOJ 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 35,384.22 996085247 B 35,384.22 996085247 FC 2,300,000.00 313397BH3 B 2,300,000.00 313397BH3 FC 3,000,000.00 90328ALF8 B 3,000,000.00 90328ALF8 FC 3,400,000.00 04600JNJ9 B J 1-Dec-2000 7:40:05 [I-ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DIS MAT 02/01/2001 CREDIT SUISSE FIRST BOSTON C LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DIS MAT 02/01/2001 CREDIT SUISSE FIRST BOSTON C LONG TERM OPER-PIMCO USAA CAP CORP DISC 11115/2000 GOLDMAN SACHS & CO. NY LONG TERM OPER-PIMCO USAA CAP CORP DISC 11/15/2000 GOLDMAN SACHS & CO. NY LONG TERM OPER-PIMCO AS SOCIA TES CP NA DISC 01/18/2001 CREDIT SUISSE FIRST BOSTON C TRADE DATE/ SETTLDATE/ COMPL DATE 07-Nov-2000 07-Nov-2000 07-Nov-2000 07-Nov-2000 07-Nov-2000 07-Nov-2000 07-Nov-2000 07-Nov-2000 07-Nov-2000 07-Nov-2000 1 O-Nov-2000 1 O-Nov-2000 1 O-Nov-2000 1 O-Nov-2000 1 O-Nov-2000 I O-Nov-2000 10-Nov-2000 PAGE: 3 AMOUNT/ COST/ GAIN/LOSS -35,384.22 35,384.22 0.00 -35,384.22 0.00 0.00 -2,264,615. 78 2,264,615. 78 0.00 -2,264,615. 78 0.00 0.00 -2,997 ,308.33 2,997,308.33 0.00 -2,997,308.33 0.00 0.00 -3,357, 185.50 3,357,185.50 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 3,400,000.00 04600JNJ9 FC 69,858.49 996085247 B 69,858.49 996085247 FC 66,424.00 996087094 B 1,093,475.00 996085247 B 1,093,475.00 996085247 FC 577,344.98 996085247 B I l-Dec-2000 7:40:05 ~--. -ORANGE COUNTY SANITATION DISTRlCT -:J PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO ASSOCIATES CP NA DISC 01/18/2001 CREDIT SUISSE FIRST BOSTON C LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO BSDT-LATE MONEY DEPOSIT ACCT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT TRADE DATE/ SETTL DATE/ COMPLDATE I O-Nov-2000 I O-Nov-2000 1 O-Nov-2000 I 3-Nov-2000 I 3-Nov-2000 13-Nov-2000 I 3-Nov-2000 l 3-Nov-2000 14-Nov-2000 14-Nov-2000 15-Nov-2000 15-Nov-2000 15-Nov-2000 I 5-Nov-2000 l 5-Nov-2000 15-Nov-2000 15-Nov-2000 PAGE: 4 AMOUNT/ COST/ GAIN/LOSS -3,357, 185.50 0.00 0.00 -69,858.49 69,858.49 0.00 -69,858.49 0.00 0.00 -66,424.00 66,424.00 0.00 -1,093,475.00 1,093,475.00 0.00 -1,093,475.00 0.00 0.00 -577,344.98 577,344.98 0.00 Executive Workbench @ OCSGOOOJOOOO OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 577,344.98 996085247 FC 53,771.33 996085247 B 53,771.33 996085247 FC 1,200,000.00 99375K047 B 1,200,000.00 99375K047 FC 204,154.11 996085247 B 204,154.l I 996085247 FC ll-Dec-2000 7:40:05 [ --ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRADE DATE/ TRANSACTION DESCRIPTION/ SETTL DATE/ BROKER COMPLDATE LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT I 5-Nov-2000 l 5-Nov-2000 l 5-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT l 6-Nov-2000 l 6-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT l 6-Nov-2000 l 6-Nov-2000 l 6-Nov-2000 LIQUID OPER-PIMCO LEHMAN BROTHERS REPO 16-Nov-2000 06.490% 11/17/2000DD11/16/ 16-Nov-2000 LEHMAN GOVT SECS INC, NY LIQUID OPER-PIMCO LEHMAN BROTHERS REPO 16-Nov-2000 06.490% 11/1712000 DD 11/16/ l 6-Nov-2000 LEHMAN GOVT SECS INC, NY l 6-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT l 7-Nov-2000 I 7-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT l 7-Nov-2000 l 7-Nov-2000 I 7-Nov-2000 PAGE: 5 AMOUNT/ COST/ GAIN/LOSS -577 ,344. 98 0.00 0.00 -53,771.33 53,771.33 0.00 -53,771.33 0.00 0.00 -1,200,000.00 1,200,000.00 0.00 -1,200,000.00 0.00 0.00 -204, 154.11 204,154.11 0.00 -204, 154.11 0.00 0.00 fa:ecillive Workbench @ OCSGOOOJOOOO OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 1,000,000.00 37042DNQ2 B 1,000,000.00 37042DNQ2 FC 600,000.00 37042DNJ8 B 600,000.00 37042DNJ8 FC 1,I00,000.00 07588RNX9 B 1,100,000.00 07588RNX9 FC 200,000.00 313312R69 B l l-Dec-2000 7:40:05 II -ORANGE-COONTY SANITATION DISTRICT -----II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO GMAC DISC 0112412001 CREDIT SUISSE FIRST BOSTON C LONG TERM OPER-PIMCO GMAC DISC 01/24/2001 CREDIT SUISSE FIRST BOSTON C LIQUID OPER-PIMCO GMAC DISC 01/18/2001 CREDIT SUISSE FIRST BOSTON C LIQUID OPER-PIMCO GMAC DISC 01/18/2001 CREDIT SUISSE FIRST BOSTON C LONG TERM OPER-PIMCO BECTON DICKINSON DISC 01/31/2001 GOLDMAN SACHS & CO. NY LONG TERM OPER-PIMCO BECTON DICKINSON DISC 01/31/2001 GOLDMAN SACHS & CO. NY LIQUID OPER-PIMCO FEDERAL FARM CR BK CONS SYST MAT 12/01/2000 CREDIT SUISSE FIRST BOSTON C TRADE DATE/ SETTL DATE/ COMPLDATE 20-Nov-2000 20-Nov-2000 20-Nov-2000 20-Nov-2000 20-Nov-2000 21-Nov-2000 2 l-Nov-2000 21-Nov-2000 21-Nov-2000 2 l-Nov-2000 21-Nov-2000 21-Nov-2000 21-Nov-2000 21-Nov-2000 2 l-Nov-2000 21-Nov-2000 21-Nov-2000 PAGE: 6 AMOUNT/ COST/ GAIN/LOSS -988, 155.56 988, 155.56 0.00 -988, 155.56 0.00 0.00 -593,649.00 593,649.00 0.00 -593,649.00 0.00 0.00 -1,085,746.75 1,085,746.75 0.00 -1,085,746.75 0.00 0.00 -199,641.67 199,641.67 0.00 E rncutive Workbench @ OCSGOOO 10000 OCSD-CONSOLJDATED SHARES/PAR SECURITY ID TRANSCODE 200,000.00 313312R69 FC 2,300,000.00 996085247 B 2,300,000.00 996085247 FC 2,300,000.00 313397AJO B 2,300,000.00 313397AJO FC 44,733.33 996085247 B 44,733.33 996085247 FC l J-Dec-2000 7:40:0j [I ORANGE COUNTY SANITATION DISTRICT ] PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LIQUID OPER-PIMCO FED ERAL FARM CR BK CONS SYST MAT 12/01 /2000 CREDIT SUISSE FIRST BOSTON C LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO FEDERALN HOME LN MTG ASSN DI MAT 011091200 I CHASE SECURITIES, NEW YORK LIQUID OPER-PIMCO FEDERALN HOME LN MTG ASSN DI MAT 01/09/2001 CHASE SECURITIES, NEW YORK LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT TRADE DATE/ SETTLDATE/ COMPL DATE 21-Nov-2000 21-Nov-2000 21-Nov-2000 22-Nov-2000 22-Nov-2000 22-Nov-2000 22-Nov-2000 22-Nov-2000 22-Nov-2000 22-Nov-2000 22-Nov-2000 22-Nov-2000 22-Nov-2000 27-Nov-2000 27-Nov-2000 27-Nov-2000 27-Nov-2000 27-Nov-2000 PAGE: 7 AMOUNT/ COST/ GAIN/LOSS -199,641.67 0.00 0.00 -2,300,000.00 2,300,000.00 0.00 -2,300,000.00 0.00 0.00 -2,280,220.00 2,280,220.00 0.00 -2,280,220.00 0.00 0.00 -44,733.33 44,733.33 0.00 -44,733.33 0.00 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 10,016.61 996087094 B 10,016.61 996085247 B 10,016.61 996085247 FC 14,224.50 996085247 B 14,224.50 996085247 FC 900,000.00 62008APP8 B 900,000.00 62008APP8 FC J 1-Dec-2000 7:./0.05 [I ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRADE DATE/ TRANSACTION DESCRIPTION/ SETTLDATE/ BROKER COMPLDATE LONG TERM OPER-PIMCO BSDT-LATE MONEY DEPOSIT ACCT 27-Nov-2000 27-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT 28-Nov-2000 28-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT 28-Nov-2000 28-Nov-2000 28-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 28-Nov-2000 28-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 28-Nov-2000 28-Nov-2000 28-Nov-2000 LIQUID OPER-PIMCO MOTOROLA INC DISC 28-Nov-2000 02/23/2001 28-Nov-2000 MORGAN J P SECS -FIXED !NCO LIQUID OPER-PIMCO MOTOROLA INC DISC 28-Nov-2000 02/23/2001 28-Nov-2000 MORGAN J P SECS -FIXED !NCO 28-Nov-2000 PAGE: 8 AMOUNT/ COST/ GAIN/LOSS -10,016.61 10,016.61 0.00 -10,016.61 10,016.61 0.00 -10,016.61 0.00 0.00 -14,224.50 14,224.50 0.00 -14,224.50 0.00 0.00 -885, 775.50 885,775.50 0.00 -885,775.50 0.00 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 600,000.00 2338EONXO B 600,000.00 2338EONXO FC FIXED INCOME SECURITIES 2,000,000.00 OIN0806B5 FC -6,250,000.00 01N0606B7 BC -12,000,000.00 OIN0806B5 BC 3,500,000.00 01N062683 FC 11,000,000.00 01N062683 FC ll-Dec-2000 7.-10:05 [I ORANGE COUNTY SANITATION DISTRICT I[ PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO DAIMLERCHRYSLER DISC 01/31/2001 GOLDMAN SACHS & CO. NY LONG TERM OPER-PIMCO DAIMLERCHRYSLER DISC 01/31/2001 GOLDMAN SACHS & CO. NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 8.000% 11/15/2030 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 11/15/2028 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 8.000% 11/15/2030 SALOMON BROS INC, NEW YORK LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 11/01/2029 MERRILL LYNCH PIERCE FENNER LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 11/01/2029 BEAR STEARNS & CO INC, NY TRADE DATE/ SETTL DATE/ COMPLDATE 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 I 6-0ct-2000 20-Nov-2000 20-Nov-2000 16-0ct-2000 20-Nov-2000 I 6-0ct-2000 20-Nov-2000 16-0ct-2000 20-Nov-2000 2 l-Nov-2000 16-0ct-2000 20-Nov-2000 21-Nov-2000 PAGE: 9 AMOUNT/ COST/ GAIN/LOSS -593, 180.00 593,180.00 0.00 -593, 180.00 0.00 0.00 -2,035,000.00 0.00 0.00 5,873,046.88 -5,873,046.88 0.00 12,210,000.00 -12,210,000.00 0.00 -3,372,031.25 0.00 0.00 -10,594,375.00 0.00 0.00 Executive Workbe,11ch @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 12,000,000.00 OIN0806B5 B 12,000,000.00 OIN0806B5 FC 6,250,000.00 OIN0606B7 B 6,250,000.00 OIN0606B7 FC 3,030,000.00 733581YS5 8 3,030,000.00 733581 YS5 IB 3,030,000.00 73358IYS5 FC 1 J-Dec-2000 7:40:05 c-ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 8.000% 11 /1 5/2030 SALOMON BROS INC, NEW YORK LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 8.000% 11/15/2030 SALOMON BROS INC, NEW YORK LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 11/15/2030 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 11/15/2030 GOLDMAN SACHS & CO. NY LONG TERM OPER-PIMCO PORT AUTH NY & NJ 5.375% 1011512035 DD 1011510 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO PORT AUTHNY & NJ 5.375% 10/15/2035 DD 1011510 LONG TERM OPER-PIMCO PORT AUTH NY & NJ 5.375% 10/15/2035 DD 10/15/0 BEAR STEARNS & CO INC, NY TRADE DATE/ SETTL DATE/ COMPL DATE l 6-0ct-2000 20-Nov-2000 I 6-0ct-2000 20-Nov-2000 20-Nov-2000 16-0ct-2000 20-Nov-2000 I 6-0ct-2000 20-Nov-2000 20-Nov-2000 06-Nov-2000 15-Nov-2000 06-Nov-2000 15-Nov-2000 06-Nov-2000 I 5-Nov-2000 I 5-Nov-2000 PAGE: 10 AMOUNT/ COST/ GAIN/LOSS -12,210,000.00 12,210,000.00 0.00 -12,210,000.00 0.00 0.00 -5,873,046.88 5,873,046.88 0.00 -5,873,046.88 0.00 0.00 -2,903,436.90 2,903,436.90 0.00 -13,571.88 0.00 0.00 -2,917,008. 78 0.00 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLJDATED SHARES/PAR SECURITY ID TRANS CODE 11,000,000.00 01N0626Cl B 3,500,000.00 01N0626Cl B 12,000,000.00 01N0806C3 B 1,000,000.00 89350LHS4 B 1,000,000.00 89350LHS4 IB 1,000,000.00 89350LHS4 FC 6,250,000.00 01N0606C5 B l l-Dec-2000 7:40:05 ~ ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OP ER-PIM CO COMMIT TO PUR GNMA SF MTG 6.500% 12115/2030 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 12/15/2030 MERRILL LYNCH PIERCE FENNER LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 8.000% 12/15/2030 SALOMON BROS INC, NEW YORK LIQUID OPER-PIMCO TRANSAMERICA FIN CORP MTN 6.125% 11/01/2001DD11/04/9 BEAR STEARNS & CO INC, NY LIQUID OPER-PIMCO TRANSAMERICA FIN CORP MTN 6.125% 11/0112001DD11/04/9 LIQUID OPER-PIMCO TRANSAMERICA FIN CORP MTN 6.125% 11/01/2001DD11/04/9 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 12/15/2030 GOLDMAN SACHS & CO. NY TRADE DATE/ SETTL DATE/ COMPLDATE I O-Nov-2000 20-Dec-2000 1 O-Nov-2000 20-Dec-2000 l 3-Nov-2000 20-Dec-2000 l 4-Nov-2000 l 7-Nov-2000 14-Nov-2000 l 7-Nov-2000 l 4-Nov-2000 l 7-Nov-2000 17-Nov-2000 15-Nov-2000 20-Dec-2000 PAGE: 11 AMOUNT/ COST/ GAIN/LOSS -10,611,562.50 10,611,562.50 0.00 -3,376,406.25 3,376,406.25 0.00 -12,210,000.00 12,210,000.00 0.00 -993,340.00 993,340.00 0.00 -2,722.22 0.00 0.00 -996,062.22 0.00 0.00 -5,910,156.25 5,910, 156.25 0.00 Executive Workbench OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 2,000,000.00 OIN0806C3 B 700,000.00 00206HL44 B 700,000.00 00206HL44 IB 100,000.00 3134A05P3 B 100,000.00 3134A05P3 IB 100,000.00 3\34A05P3 FC 6,250,000.00 OIN060619 B 11-Dec-2000 7:40:05 II (J!{ANGE-COUNTYSANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 8.000% 12/15/2030 BEAR STEARNS & CO INC, NY LIQUID OPER-PIMCO AT&T CAPITAL CORP MTN 7.000% 08/15/2001 DD 08/20/9 ADVEST CO, HARTFORD LIQUID OPER-PIMCO AT&T CAP IT AL CORP MTN 7 .000% 08/15/2001 DD 08/20/9 LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DEB 6.440% 08/21/200 I DO 08/21/9 ADVESTCO,HARTFORD LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DEB 6.440% 08/21/2001 DD 08/21/9 LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DEB 6.440% 08/21/2001 DD 0812119 ADVEST CO, HARTFORD LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF J\ffG 6.000% 0111512030 GOLDMAN SACHS & CO. NY TRADE DATE/ SETTLDATE/ COMPLDATE I 6-Nov-2000 20-Dec-2000 20-Nov-2000 0 l-Dec-2000 20-Nov-2000 0 l-Dec-2000 28-Nov-2000 29-Nov-2000 28-Nov-2000 29-Nov-2000 28-Nov-2000 29-Nov-2000 29-Nov-2000 29-Nov-2000 23-Jan-200 I PAGE: 12 AMOUNT/ COST/ GAIN/LOSS -2,038, 750.00 2,038,750.00 0.00 -700, 707 .00 700,707.00 0.00 -14,427.78 0.00 0.00 -99,892.00 99,892.00 0.00 -1,753.11 0.00 0.00 -101,645.11 0.00 0.00 -5,932,617.19 5,932,617.19 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED PAY UPS SHARES/PAR SECURITY ID TRANSCODE 11,000,000.00 OIN062615 B 500,000.00 44922YAR9 B 500,000.00 44922YAR9 IB 500,000.00 37042WRTO B 500,000.00 37042WRTO IB 3,500,000.00 OIN062615 B FIXED INCOME SECURITIES J J-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT ii PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 0111512030 BEAR STEARNS & CO INC, NY LIQUID OPER-PIMCO IBM CR CORP MTN #TR 00016 6.640% 1012912001 DD 1012919 ADVEST CO, HARTFORD LIQUID OPER-PlMCO IBM CR CORP MTN #TR 00016 6.640% I 0/29/200 I DD I 0/29/9 LIQUID OPER-PIMCO GMAC MTN 000378 5.800% 04/09/2001DD04/08/9 WARBURG DILLON READ LLC, NEW LIQUID OPER-PIMCO GMAC MTN 000378 5.800% 04/09/2001 DD 04/08/9 LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 01/15/2030 MERRILL LYNCH PIERCE FENNER TRADE DATE/ SETTL DATE/ COMPLDATE 29-Nov-2000 23-Jan-200 I 30-Nov-2000 05-Dec-2000 30-Nov-2000 05-Dec-2000 30-Nov-2000 05-Dec-2000 30-Nov-2000 05-Dec-2000 30-Nov-2000 23-Jan-2001 PAGE: 13 AMOUNT/ COST/ GAIN/LOSS -10,704,804.69 I 0, 704,804.69 0.00 -500,268.50 500,268.50 0.00 -3,320.00 0.00 0.00 -498,260.00 498,260.00 0.00 -5, 155.56 0.00 0.00 -3,417,148.44 3,417,148.44 0.00 Executive Workbench OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 140,760.00 9128272M3 PU 140,760.00 9128272M3 FC 49,695.00 9128273A8 PU 49,695.00 9128273A8 FC 10,587.60 79549BBGI PU 10,587.60 79549BBG1 FC 3.50 3133TCE95 PU I 1-Dec-2000 7:40:05 Ii -ORANGE COUNTY SANITATIDNDISTIUCT -II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TER.tv! OPER-PIMCO US TREASURY INFLATION INDEX 3.375% 01115/2007 DD 01115/ LONG TERM OPER-PIMCO US TREASURY INFLATION INDEX 3.375% 01/15/2007 DD 011151 LONG TER.tv! OPER-PIMCO US TREASURY INFLATION INDEX 3.625% 07 /15/2002 DD 07115/ LONG TER.tv! OPER-PIMCO US TREASURY INFLATION INDEX 3.625% 07/15/2002 DD 07/15/ LONG TER.tv! OPER-PIMCO SALOMON SMITH BARNEY HLDGS I 3.650% 02114/2002 DD 02/14/ LONG TER.tv! 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 08115/2032 TRADE DATE/ SETTLDATE/ COMPLDATE I 5-Jul-2000 15-Jul-2000 l 5-Jul-2000 15-Jul-2000 30-Nov-2000 15-Jul-2000 15-Jul-2000 I 5-Jul-2000 I 5-Jul-2000 30-Nov-2000 14-Aug-2000 I 4-Aug-2000 14-Aug-2000 14-Aug-2000 30-Nov-2000 I 5-0ct-2000 15-0ct-2000 PAGE: 14 AMOUNT/ COST/ GAIN/LOSS -140,760.00 140,760.00 0.00 -140, 760.00 0.00 0.00 -49,695.00 49,695.00 0.00 -49,695.00 0.00 0.00 -10,587.60 10,587.60 0.00 -10,587.60 0.00 0.00 -3.50 3.50 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOL1DATED SALES SHARES/PAR SECURITY ID TRANSCODE 3.50 3133TCE95 FC 12,480.60 3133TI 7A4 PU 12,480.60 3133TJ7A4 FC CASH & CASH EQUIVALENTS -169,231.16 996085247 s -169,231.16 996085247 FC -126,802.82 996085247 s l 1-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT I! PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO FHLMC MULTICLASS CTF E3 A VAR RT 08115/2032 LONG TERM OPER-PIMCO FHLMC MULTICLASS CTF SER 162 6.000% 11115/2023 DD 11/01/9 LONG TERM OPER-PIMCO FHLMC MUL TICLASS CTF SER 162 6.000% 11/15/2023 DD 11/01/9 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/ SETTL DATE/ COMPLDATE I 5-0ct-2000 I 5-0ct-2000 I 5-Nov-2000 0 l-Nov-2000 01-Nov-2000 01-Nov-2000 0 I-Nov-2000 I 6-Nov-2000 01-Nov-2000 01-Nov-2000 0 l-Nov-2000 01-Nov-2000 0 l-Nov-2000 02-Nov-2000 02-Nov-2000 PAGE: 15 AMOUNT/ COST/ GAIN/LOSS -3.50 0.00 0.00 -12,480.60 12,480.60 0.00 -12,480.60 0.00 0.00 169,231.16 -169,231.16 0.00 169,231.16 0.00 0.00 126,802.82 -126,802.82 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLJDATED SHARES/PAR SECURITY ID TRANSCODE -126,802.82 996085247 FC -11.05 996085247 s -5.10 996085247 s -5.10 996085247 FC -11.05 996085247 FC -54,493.83 996085247 s -54,493.83 996085247 FC 1 l-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT ii PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRADE DATE/ TRANSACTION DESCRIPTION/ SETTL DATE/ BROKER COMPLDATE LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 02-Nov-2000 02-Nov-2000 02-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASI! MGMT 06-Nov-2000 06-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 06-Nov-2000 06-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 06-Nov-2000 06-Nov-2000 06-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT 06-Nov-2000 06-Nov-2000 06-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT I O-Nov-2000 10-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT I O-Nov-2000 I O-Nov-2000 I O-Nov-2000 PAGE: 16 AMOUNT/ COST/ GAIN/LOSS 126,802.82 0.00 0.00 11.05 -11.05 0.00 5.10 -5.10 0.00 5.10 0.00 0.00 11.05 0.00 0.00 54,493.83 -54,493.83 0.00 54,493.83 0.00 0.00 Executive Wnrkbem:h @ OCSGOOO 10000 OCSD-CONSOLTDATED SHARES/PAR SECURITY ID TRANS CODE -66,424.00 996087094 s -1,200,000.00 996085247 s -1,200,000.00 996085247 FC -1 ,200,000.00 99375K047 s -1,200,000.00 99375K047 IS -1,200,000.00 99375K047 FC -636, 191.87 996085247 s 1 l-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT l PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO BSDT-LATE MONEY DEPOSIT ACCT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO LEHMAN BROTHERS REPO 06.490% 11/17/2000 DD 11/16/ LEHMAN GOVT SECS INC, NY LIQUID OPER-PIMCO LEHMAN BROTHERS REPO 06.490% 11/17/2000 DD 11116/ LIQUID OPER-PIMCO LEHMAN BROTHERS REPO 06.490% ll/17/2000DD 11/16/ LEHMAN GOVT SECS INC, NY LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT TRADE DATE/ SETTLDATE/ COMPLDATE l 5-Nov-2000 l 5-Nov-2000 l 6-Nov-2000 l 6-Nov-2000 16-Nov-2000 l 6-Nov-2000 16-Nov-2000 l 7-Nov-2000 I 7-Nov-2000 l 7-Nov-2000 l 7-Nov-2000 17-Nov-2000 l 7-Nov-2000 17-Nov-2000 20-Nov-2000 20-Nov-2000 PAGE: 17 AMOUNT/ COST/ GAIN/LOSS 66,424.00 -66,424.00 0.00 1,200,000.00 -1,200,000.00 0.00 1,200,000.00 0.00 0.00 1,200,000.00 -1,200,000.00 0.00 216.33 0.00 0.00 1,200,216.33 0.00 0.00 636,191.87 -636,191.87 0.00 Executive Workbench @ OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANS CODE -636, 191.87 996085247 FC -193,290.67 996085247 s -193,290.67 996085247 FC -68,767.57 996085247 s -68,767.57 996085247 FC -2,280,220.00 996085247 s -2,280,220.00 996085247 FC I J-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRADE DATE/ TRANSACTION DESCRIPTION/ SETTL DATE/ BROKER COMPL DATE LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT 20-Nov-2000 20-Nov-2000 20-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 21-Nov-2000 2 l-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 2 I -Nov-2000 21-Nov-2000 21-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT 21-Nov-2000 21-Nov-2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT 21-Nov-2000 21-Nov-2000 21-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 24-Nov-2000 24-Nov-2000 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT 24-Nov-2000 24-Nov-2000 24-Nov-2000 PAGE: 18 AMOUNT/ COST/ GAIN/LOSS 636,191.87 0.00 0.00 193,290.67 -193,290.67 0.00 193,290.67 0.00 0.00 68,767.57 -68,767.57 0.00 68,767.57 0.00 0.00 2,280,220.00 -2,280,220.00 0.00 2,280,220.00 0.00 0.00 Executive Workbench ® OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE -10,016.61 996087094 s -101,645.11 996085247 s -101,645.11 996085247 FC -93, 166.52 996085247 s -93, 166.52 996085247 FC FIXED INCOME SECURITIES -11,000,000.00 01N0626B3 s -11,000,000.00 01N0626B3 FC J l-Dec-2000 7:40:05 [I ORANGECOuNfY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO BSDT-LATE MONEY DEPOSI r /\CCT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO DREYFUS TREASURY CASI-I MGMT LONG TERM OPER-PJMCO DREYFUS TREASURY CASH MGMT LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 11/15/2030 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 11/15/2030 BEAR STEARNS & CO INC, NY TRADE DATE/ SETTL DATE/ COMPLDATE 28-Nov-2000 28-Nov-2000 29-Nov-2000 29-Nov-2000 29-Nov-2000 29-Nov-2000 29-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 1 O-Nov-2000 20-Nov-2000 1 O-Nov-2000 20-Nov-2000 20-Nov-2000 PAGE: 19 AMOUNT/ COST/ GAIN/LOSS 10,016.61 -10,016.61 0.00 101,645.11 -101,645.11 0.00 101,645.11 0.00 0.00 93,166.52 -93,166.52 0.00 93,166.52 0.00 0.00 I 0,615,000.00 -10,595,204. 74 19,795.26 10,615,000.00 0.00 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE -3,500,000.00 01N0626B3 s -3,500,000.00 01N0626B3 FC -12,000,000.00 01N0806B5 s -12,000,000.00 OIN0806B5 FC -6,250,000.00 01N0606B7 s -6,250,000.00 01N0606B7 FC -2,000,000.00 01N0806B5 s 11-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT ·-,, PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 11 /15/2030 MERRILL LYNCH PIERCE FENNER LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 11/1512030 MERRILL LYNCH PIERCE FENNER LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 8.000% 11 /15/2030 SALOMON BROS INC, NEW YORK LONG TERM OPER-PlMCO COMMIT TO PUR GNMA SF MTG 8.000% 11/15/2030 SALOMON BROS INC, NEW YORK LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 11/15/2030 GOLDMAN SACHS & CO. NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 11/15/2030 GOLDMAN SACHS & CO. NY LONG TERM OPER-PIMCb COMMIT TO PUR GNMA SF MTG 8.000% 11/15/2030 BEAR STEARNS & CO INC, NY TRADE DATE/ SETTLDATE/ COMPLDATE I O-Nov-2000 20-Nov-2000 1 O-Nov-2000 20-Nov-2000 20-Nov-2000 13-Nov-2000 20-Nov-2000 13-Nov-2000 20-Nov-2000 20-Nov-2000 l 5-Nov-2000 20-Nov-2000 l 5-Nov-2000 20-Nov-2000 2 l-Nov-2000 16-Nov-2000 20-Nov-2000 PAGE: 20 AMOUNT/ COST/ GAIN/LOSS 3,377,500.00 -3,371,201.51 6,298.49 3,377,500.00 0.00 0.00 12,220,312.50 -12,210,000.00 10,312.50 12,220,312.50 0.00 0.00 5,910,400.40 -5,873,046.88 37,353.52 5,910,400.40 0.00 0.00 2,040,312.50 -2,035,000.00 5,312.50 Executive Workbench @ OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE -2,000,000.00 OIN0806B5 FC -6,250,000.00 OIN0606C5 s -I I ,000,000.00 OIN0626Cl s -3,500,000.00 OIN0626Cl s PRINCIPAL PAYMENTS FIXED INCOME SECURITIES 42,024.50 3133TCE95 PDC -42,028.00 3133TCE95 PD Jl-Dec-2000 7:40:05 [I ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO COMMIT TO PUR GNM/\ SF M l'G 8.000% 11/15/2030 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.000% 12/15/2030 GOLDMAN SACHS & CO, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 12/15/2030 BEAR STEARNS & CO INC, NY LONG TERM OPER-PIMCO COMMIT TO PUR GNMA SF MTG 6.500% 12/15/2030 MERRILL LYNCH PIERCE FENNER LONG TERM OPER-PIMCO FHLMC MULTICLASS CTF E3 A VAR RT 08/15/2032 LONG TERM OPER-PIMCO FHLMC MULTI CLASS CTF E3 A VAR RT 08/15/2032 TRADE DATE/ SETTL DATE/ COMPL DATE 16-Nov-2000 20-Nov-2000 21-Nov-2000 29-Nov-2000 20-Dec-2000 29-Nov-2000 20-Dec-2000 30-Nov-2000 20-Dec-2000 I 5-Sep-2000 15-Sep-2000 I 5-Sep-2000 I 5-Sep-2000 PAGE:' 21 AMOUNT/ COST/ GAIN/LOSS 2,040,312.50 0.00 0.00 5,931,640.63 -5,910,156.25 21,484.38 10,704,375.00 -10,611,562.50 92,812.50 3,4 I 6,875.00 -3,3 76,406.25 40,468.75 -42,024.50 42,070.46 45.96 42,028.00 -42,073.96 -45.96 Executive Workbench @ OCSGOOOJOOOO OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE -42,028.00 3133TCE95 FC -8,414.50 31348SWZ3 FC -590.78 302998GE3 FC -40,234.00 3133TCE95 PD -32,672.55 3133T02D5 PD -32,672.55 3133T02D5 FC -92,752.45 3128DDQ55 PD J J-Dec-2000 7:40:05 c-ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO FHLMC MUL TICLASS CTF E3 A VAR RT 08/15/2032 LONG TERM OPER-PIMCO FHLMC GROUP #78-6064 6.384% 01101 /2028 DD 12/01/ LONG TERM OPER-PIMCO WMP/HUNTOON PAIGE #000-11150 7.500% 12/01/2030 DD 10/2119 LONG TERM OPER-PIMCO FHLMC MULTICLASS CTF E3 A VAR RT 08/\ 5/2032 LONG TERM OPER-PIMCO FHLMC MULTICL MTG P/C 1574 E 5.900% 06/15/2017 LONG TERM OPER-PIMCO FHLMC MULTICL MTG P/C 1574 E 5.900% 06/15/2017 LONG TERM OPER-PIMCO FHLMC GROUP #G5-04 76 7.000% 02101 12003 DD 021011 TRADE DATE/ SETTL DATE/ COMPLDATE 15-Sep-2000 15-Sep-2000 I 5-Nov-2000 0 l-Oct-2000 0 l-Oct-2000 l 5-Nov-2000 0 l-Oct-2000 0 l -Oct-2000 03-Nov-2000 I 5-0ct-2000 I 5-0ct-2000 Ol-Nov-2000 0 l-Nov-2000 0 l-Nov-2000 01-Nov-2000 l 5-Nov-2000 01-Nov-2000 01-Nov-2000 PAGE: 22 AMOUNT/ COST/ GAIN/LOSS 42,028.00 0.00 0.00 8,414.50 0.00 0.00 590.78 0.00 0.00 40,234.00 -40,278.00 -44.00 32,672.55 -32,626.60 45.95 32,672.55 0.00 0.00 92,752.45 -94,201.71 -1,449.26 Executive Workbench @ OCSGOOO I 0000 OCSD-CONSOLJDATED SHARES/PAR SECURITY ID TRANS CODE -92,752.45 3128DDQ55 FC -34,666.75 36225CAZ9 PD -34,666.75 36225CAZ9 FC -53,275.57 36225CC20 PD -53,275.57 36225CC20 FC -6,806.13 36225CNM4 PD -6,806.13 36225CNM4 FC JJ-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO FHLMC GROUP #05-0476 7.000% 02/01/2003 DD 02/01/ LONG TERM OPER-P!MCO GNMA II POOL #0080023 7.125% 12/20/2026 DD 12/01/ LONG TERM OPER-PIMCO GNMA II POOL #0080023 7.125% 12/20/2026DD 12/01/ LONG TERM OPER-PIMCO GNMA II POOL #080088M VAR RT 06/20/2027 DD 0610119 LONG TERM OPER-PIMCO GNMA II POOL #080088M VAR RT 06/20/2027 DD 06/01/9 LONG TERM OPER-PIMCO GNMA II POOL #0080395 6.500% 04/20/2030 DD 04/01/ LONG TERM OPER-PIMCO GNMA II POOL #0080395 6.500% 04/20/2030 DD 041011 TRADE DATE/ SETTL DATE/ COMPL DATE 01-Nov-2000 0 l-Nov-2000 15-Nov-2000 01-Nov-2000 01-Nov-2000 0 l-Nov-2000 Ol-Nov-2000 20-Nov-2000 01-Nov-2000 01-Nov-2000 01-Nov-2000 01-Nov-2000 20-Nov-2000 01-Nov-2000 0 l-Nov-2000 0 l-Nov-2000 01-Nov-2000 20-Nov-2000 PAGE: ' 23 AMOUNT/ COST/ GAIN/LOSS 92,752.45 0.00 0.00 34,666.75 -35,240.92 -574.17 34,666.75 0.00 0.00 53,275.57 -54,440.97 -1,165.40 53,275.57 0.00 0.00 6,806.13 -6,744.45 61.68 6,806.13 0.00 0.00 Executive Workbench @ OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE -7,444.75 31348SWZ3 PD -35,272.42 36225CN28 PD -35,272.42 36225CN28 FC -1,927.35 398IO#AE4 PD -1,927.35 39810#AE4 FC -2,667.80 31677EAA4 PD -2,667.80 31677EAA4 FC l l-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION lls'fRICT I] PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-P!MCO FHLMC GROUP #78-6064 6.3 84% 01/01/2028 DD 12/01 / LONG TERfvl OPER-PIMCO GNMA II POOL #080408X 6.500% 0512012030 DD 05/0I/ LONG TERM OPER-PIMCO GNMA II POOL #080408X 6.500% 0512012030 DD 05/01/ LONG TERM OPER-PIMCO GREYSTONE SVCNG CORP FHA #95 7.430% 06/01/2003 DD 0212910 LONG TERM OPER-PIMCO GREYSTONE SVCNG CORP FHA #95 7.430% 06/01/2003 DD 0212910 LONG TERM OPER-PIMCO FIFTH THIRD BK AUTO TR 96A C 6.200% 09/01/2001 DD 03115/9 LONG TERM OPER-PIMCO FIFTH THIRD BK AUTO TR 96A C 6.200% 09/01/2001 DD 0311519 TRADE DATE/ SETTL DATE/ COMPLDATE 0 l-Nov-2000 01-Nov-2000 Ol-Nov-2000 01-Nov-2000 01-Nov-2000 01-Nov-2000 20-Nov-2000 01-Nov-2000 01-Nov-2000 01-Nov-2000 Ol-Nov-2000 27-Nov-2000 I 5-Nov-2000 I 5-Nov-2000 I 5-Nov-2000 I 5-Nov-2000 l 5-Nov-2000 PAGE: 24 AMOUNT/ COST/ GAIN/LOSS 7,444.75 -7,263.28 181.47 35,272.42 -34,914.18 358.24 35,272.42 0.00 0.00 1,927.35 -1,899.19 28.16 1,927.35 0.00 0.00 2,667.80 -2,667.80 0.00 2,667.80 0.00 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE MATURITIES -28,290.50 3935052Y7 PD -28,290.50 3935052Y7 FC -39,239.00 3837H4NX9 PD -39,239.00 3837H4NX9 FC CASH & CASH EQUIVALENTS -800,000.00 07785AL19 MT -5,600,000.00 313588M93 MT J l-Dec-2000 7:40:05 \I ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OP ER-PIM CO GREEN TREE CORP 99-0 CL A-I 6 290% I 0/15/2013 DD 08/26/9 LONG TERM OPER-PIMCO GREEN TREE CORP 99-D CL A-I 6.290% 10/15/2013 DD 08/26/9 LONG TERM OPER-PIMCO GNMA GTD REMIC TR 2000-9 FH VAR RT 02/16/2030 LONG TERM OPER-PIMCO GNMA GTD REMIC TR 2000-9 FH VAR RT 02/16/2030 LONG TERM OPER-PIMCO BELL ATLNTIC FINL DISC 11/01/2000 LIQUID OPER-PIMCO FEDERAL NATL MTG ASSN DISC N MAT 11/02/2000 TRADE DATE/ SETTL DATE/ COMPLDATE I 5-Nov-2000 I 5-Nov-2000 I 5-Nov-2000 15-Nov-2000 I 5-Nov-2000 l 6-Nov-2000 l 6-Nov-2000 l 6-Nov-2000 16-Nov-2000 16-Nov-2000 01-Nov-2000 0 l-Nov-2000 Ol-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 PAGE: 25 AMOUNT/ COST/ GAIN/LOSS 28,290.50 -28,290.50 0.00 28,290.50 0.00 0.00 39,239.00 -39,239.00 0.00 39,239.00 0.00 0.00 789,450.46 -789,450.46 0.00 5,508,909.00 -5,508,909.00 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE -2,300,000.00 313396N66 MT -6,300,000.00 92344ALA5 MT -3,000,000.00 90328ALF8 MT -I ,000,000.00 43851RLMO MT -600,000.00 43851RLMO MT -2,300,000.00 313396Q55 MT -900,000.00 07588RLU7 MT 11-Dec-2000 7:40:05 II ---ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRADE DATE/ TRANSACTION DESCRIPTION/ SETTLDATE/ BROKER COMPLDATE LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DIS 07-Nov-2000 MAT 11 /07/2000 07-Nov-2000 07-Nov-2000 LONG TERM OPER-PIMCO VERIZON GLOBL FOG DISC I O-Nov-2000 11 /10/2000 I O-Nov-2000 I O-Nov-2000 LONG TERM OPER-PIMCO USAA CAP CORP DISC I 5-Nov-2000 11 /15/2000 l 5-Nov-2000 15-Nov-2000 LONG TERM OPER-PIMCO HONEYWELL INTL DISC 2 l-Nov-2000 11 /21/2000 2 l-Nov-2000 21-Nov-2000 LIQUID OPER-PIMCO HONEYWELL INTL DISC 21-Nov-2000 11/21/2000 21-Nov-2000 21-Nov-2000 LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DIS 22-Nov-2000 MAT 1112212000 22-Nov-2000 22-Nov-2000 LIQUID OPER-PIMCO BECTON DICKINSON DISC 28-Nov-2000 11 /28/2000 28-Nov-2000 28-Nov-2000 PAGE: 26 AMOUNT/ COST/ GAIN/LOSS 2,279,964.45 -2,279,964.45 0.00 6,220,620.00 -6,220,620.00 0.00 2,997,308.33 -2,997,308.33 0.00 983,675.00 -983,675.00 0.00 590,205.00 -590,205.00 0.00 2,271,786.67 -2,271,786.67 0.00 886,878.00 -886,878.00 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE -500,000.00 313396R54 MT FIXED INCOME SECURITIES INTEREST -1,000,000.00 449909AA8 MT 420,000.00 066050CJ2 IT 0.00 996087094 IT 1,600,000.00 020002AL5 IT 7,000,000.00 67982XAA6 IT l l-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO FEDERAL HOME LN MTG CORP DIS MAT 11/30/2000 LIQUID OPER-PIMCO !CI WILMINGTON INC GTD NT 9.500% 11/15/2000 LIQUID OPER-PIMCO BANK.AMERICA CORP SR NT 6.650% 05/01/2001 DD 0510119 LONG TERM OPER-PIMCO BSDT-LATE MONEY DEPOSIT ACCT LONG TERM OPER-PIMCO ALLSTATE CORP SR NT 7.875% 05/01/2005 DD 0510110 LONG TERM OPER-PIMCO OLD KENT BK MTN SB 00001 VAR RT 11/01/2005 DD 04/28/0 TRADE DATE/ SETTL DATE/ COMPLDATE 30-Nov-2000 30-Nov-2000 30-Nov-2000 I 5-Nov-2000 15-Nov-2000 \ 5-Nov-2000 0 l-Nov-2000 0 I-Nov-2000 Ol-Nov-2000 0 l-Nov-2000 0 l-Nov-2000 OI-Nov-2000 Ol-Nov-2000 OI-Nov-2000 OI-Nov-2000 Ol-Nov-2000 Ol-Nov-2000 Ol-Nov-2000 PAGE: 27 AMOUNT/ COST/ GAIN/LOSS 493,653.33 -493,653.33 0.00 1,000,000.00 -1,008,480.00 -8,480.00 13,965.00 0.00 0.00 0.73 0.00 0.00 63,000.00 0.00 0.00 133,473.47 0.00 0.00 Executive Workbench OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 1,000,000.00 44181KZT4 IT 800,000.00 07785AL19 IT 0.00 996085247 IT 275,000.00 3133M6EA2 IT 0.00 996085247 IT 5,600,000.00 313588M93 IT 590.78 302998GE3 IT 1 l-Dec-2000 7:40:05 c --. ORANGEC0uNTYSANITATIONDISTRICT -II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO HOUSEHOLD FIN MTN SR #00570 FLTG RT 08/01/2001 DD 091041 LONG TERM OPER-PIMCO BELL ATLNTIC FINL DISC 11 /01/2000 LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO FEDERAL HOME LN BK CONS BOS 5.140% 05/02/2001 DD 11 /02/9 LIQUID OPER-PIMCO DREYFUS TREASURY CASH MGMT LIQUID OPER-PIMCO FEDERAL NATL MTG ASSN DISC N MAT 11 /02/2000 LONG TERM OPER-PIMCO WMP/HUNTOON PAIGE #000-1I150 7.500% 12/01/2030 DD 10/21/9 TRADE DATE/ SETTL DATE/ COMPLDATE 01-Nov-2000 01-Nov-2000 Ol-Nov-2000 0 l-Nov-2000 01-Nov-2000 01-Nov-2000 02-Nov-2000 01-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 01-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 02-Nov-2000 03-Nov-2000 01-0ct-2000 03-Nov-2000 PAGE: 28 AMOUNT/ COST/ GAIN/LOSS 17,534.31 0.00 0.00 10,549.54 0.00 0.00 2,016.60 0.00 0.00 7,067.50 0.00 0.00 662.18 0.00 0.00 91,091.00 0.00 0.00 6,076.85 0.00 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 2,300,000.00 313396N66 IT 6,300,000.00 92344ALA5 IT 2,000,000.00 345397RV7 IT 2,000,000.00 066365DW4 IT 1,000,000.00 449909AA8 IT 500,000.00 90269QAF6 IT 1,000,000.00 25766CAL8 IT l l-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRADE DATE/ TRANSACTION DESCRIPTION/ SETTL DATE/ BROKER COMPLDATE LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DIS 07-Nov-2000 MAT 11/07/2000 07-Nov-2000 07-Nov-2000 LONG TERM OPER-PIMCO VERIZON GLOBL FOG DISC IO-Nov-2000 I I/10/2000 1 O-Nov-2000 1 O-Nov-2000 LONG TERM OPER-PIMCO FORD MTR CR CO GLOBAL NTS l 3-Nov-2000 FLTG RT 02/13/2003 DD 02/13/ I 3-Nov-2000 I 3-Nov-2000 LONG TERM OPER-PIMCO BANKERS TR NY CORP GLOBAL NT l 3-Nov-2000 FLTG RT 05111/2003 DD 05/11 / l I-Nov-2000 13-Nov-2000 LIQUID OPER-PIMCO IC! WILMINGTON INC GTD NT l 5-Nov-2000 9.500% 11/15/2000 l 5-Nov-2000 l 5-Nov-2000 LIQUID OPER-P!MCO UGI UTTLS INC MTN #TR 00006 l 5-Nov-2000 6.170% 03/06/2001 DD 0310619 l 5-Nov-2000 I 5-Nov-2000 LIQUID OPER-PIMCO DONALDSON LUFKIN & JEN TROOO l 5-Nov-2000 6.110% 05115/2001 DD 05/27/9 l 5-Nov-2000 l 5-Nov-2000 PAGE: 29 AMOUNT/ COST/ GAIN/LOSS 20,035.55 0.00 0.00 79,380.00 0.00 0.00 34,409.37 0.00 0.00 35,449.12 0.00 0.00 47,500.00 0.00 0.00 15,425.00 0.00 0.00 30,550.00 0.00 0.00 Execw.ive Workbench 11 ·-. ---ORANGECOUNTY SANITATION DISTRICT II PAGE: 30 PORTFOLIO DETAIL OCSGOOO 10000 01-NOV-2000 -30-NOV-2000 OCSD-CONSOLIDATED SHARES/PAR TRADE DATE/ AMOUNT/ SECURITY ID TRANSACTION DESCRIPTION/ SETTL DATE/ COST/ TRANSCODE BROKER COMPLDATE GAIN/LOSS LONG TERM OPER-PIMCO 1,000,000.00 FORD MOTOR CR CO NT I 5-Nov-2000 33,750.00 345397GV9 6. 750% 05/15/2005 I 5-Nov-2000 0.00 IT I 5-Nov-2000 0.00 LONG TERM OPER-PIMCO 2,005,000.00 SEARS ROEBUCK ACCEP CORP MTN 15-Nov-2000 65,563.50 81240QGW6 6.540% 02/20/2003 DD 02/20/9 15-Nov-2000 0.00 IT 15-Nov-2000 0.00 LONG TERM OPER-P!MCO 2,000,000.00 MONTGOMERY ALA BMC SERB l 5-Nov-2000 50,000.00 613041GH9 5.000% I 1/15/2029 DD 12/01/9 01-Nov-2000 0.00 IT l 5-Nov-2000 0.00 LONG TERM OPER-PIMCO 92,752.45 FHLMC GROUP #G5-0476 I 5-Nov-2000 45,036.48 3128DDQ55 7.000% 02/01/2003 DD 02/01/ 01-Nov-2000 0.00 IT 15-Nov-2000 0.00 LONG TERM OPER-PIMCO 3,000,000.00 USAA CAP CORP DISC 15-Nov-2000 2,691.67 90328ALF8 11/15/2000 I 5-Nov-2000 0.00 IT 15-Nov-2000 0.00 LONG TERM OPER-PIMCO 32,672.55 FHLMC MULTICL MTG P/C 1574 E I 5-Nov-2000 717.02 3133T02D5 5.900% 06/15/2017 01-Nov-2000 0.00 IT I 5-Nov-2000 0.00 LONG TERM OPER-PIMCO 2,667.80 FIFTH THTRD BK AUTO TR 96A C I 5-Nov-2000 50.46 31677EAA4 6.200% 09/01/2001 DD 03/15/9 I 5-Nov-2000 0.00 IT 15-Nov-2000 0.00 I J-De c-2000 7:40:05 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 42,028.00 3133TCE95 IT 3.50 3133TCE95 IT 8,414.50 31348SWZ3 IT 28,290.50 3935052Y7 IT 0.00 37042WZKO IT 12,480.60 3133Tl7A4 IT 39,239.00 3837H4NX9 IT J J-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL Ol-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO FHLMC MUL TICLASS CTF E3 A VAR RT 08115/2032 LONG TERM OPER-PllvlCO FHLMC MUL TICLASS CTF E3 A VAR RT 08/15/2032 LONG TERM OPER-PIMCO FHLMC GROUP #78-6064 6.384% 01/01/2028 DD 12/01/ LONG TERM OPER-PIMCO GREEN TREE CORP 99-D CL A-1 6.290% 10/15/2013 DD 08/26/9 LONG TERM OPER-PIMCO GENERAL MTRS ACCEP #TR 00562 FLTG RT 02/14/2003 DD 02/14/ LONG TERM OPER-PIMCO FHLMC MULTI CLASS CTF SER 162 6.000% 11/15/2023 DD 1110119 LONG TERM OPER-PIMCO GNMA GTD REMIC TR 2000-9 FH VAR RT 02/16/2030 TRADE DATE/ SETTL DATE/ COMPLDATE I 5-Nov-2000 I 5-0ct-2000 I 5-Nov-2000 l 5-Nov-2000 l 5-0ct-2000 I 5-Nov-2000 15-Nov-2000 01-0ct-2000 I 5-Nov-2000 15-Nov-2000 l 5-Nov-2000 15-Nov-2000 15-Nov-2000 15-Nov-2000 15-Nov-2000 l 6-Nov-2000 Ol-Nov-2000 16-Nov-2000 16-Nov-2000 16-Nov-2000 16-Nov-2000 PAGE: 31 AMOUNT/ COST/ GAIN/LOSS 15,565.97 0.00 0.00 3.50 0.00 0.00 1,573.69 0.00 0.00 960.90 0.00 0.00 66,424.00 0.00 0.00 12,480.60 0.00 0.00 14,532.33 0.00 0.00 Executive Workbench @ OCSGOOOJOOOO OCSD-CONSOL/DATED SHARES/PAR SECURITY ID TRANSCODE 3,950,000.00 370425QV5 IT 34,666.75 36225CAZ9 IT 53,275.57 36225CC20 IT 6,806.13 36225CNM4 IT 35,272.42 36225CN28 IT 0.00 l 7120QE80 IT 2,000,000.00 3837H3C70 IT 1 l-Dec-2000 7:40:05 II ORANGE COUNTY SANITATION DISTRICT --J PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO GMACNTS FL TG RT 08/18/2003 DD 08/17 I LONG TERM OPER-PIMCO GNMA II POOL #0080023 7.125% 12/20/2026 DD 121011 LONG TERM OPER-PIMCO GNMA II POOL #080088M VAR RT 06/20/2027 DD 0610119 LONG TERM OPER-PIMCO GNMA II POOL #0080395 6.500% 04/20/2030 DD 04/01 / LONG TERM OPER-PIMCO GNMA II POOL #080408X 6.500% 05/20/2030 DD 051011 LONG TERM OPER-PIMCO CHRYSLER FINL LLC MTN #TR006 FLTG RT 08/08/2002 DD 04/08/ LONG TERM OPER-PIMCO GNMA GTD REMIC TR 2000-2 PA 7.000% 12/20/2022 TRADE DATE/ SETTL DATE/ COMPLDATE 20-Nov-2000 I 8-Nov-2000 20-Nov-2000 20-Nov-2000 0 l-Nov-2000 20-Nov-2000 20-Nov-2000 01-Nov-2000 20-Nov-2000 20-Nov-2000 0 l-Nov-2000 20-Nov-2000 20-Nov-2000 Ol-Nov-2000 20-Nov-2000 20-Nov-2000 20-Nov-2000 20-Nov-2000 21-Nov-2000 01-Nov-2000 2 l-Nov-2000 PAGE: 32 AMOUNT/ COST/ GAIN/LOSS 70,027.18 0.00 0.00 7,345.34 0.00 0.00 10,546.25 0.00 0.00 6,674.95 0.00 0.00 53,589.34 0.00 0.00 7,885.94 0.00 0.00 11,666.67 0.00 0.00 Executive Workbench @ OCSGOOO 10000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 1,000,000.00 43851RLMO IT 600,000.00 43851RLMO IT 2,300,000.00 313396055 IT 2,000,000.00 3133TDPV2 IT 2,000,000.00 345397SC8 IT 1,927.35 39810#AE4 IT 900,000.00 07588RLU7 IT 1 l-Dec-2000 7:40:05 [I ORANGE COUNTY SANITATION DISTRICT II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRADE DATE/ TRANSACTION DESCRIPTION/ SETTLDATE/ BROKER COMPLDATE LONG TERM OPER-PIMCO HONEYWELL INTL DISC 2 l-Nov-2000 11/21 /2000 21-Nov-2000 21-Nov-2000 LIQUID OPER-PIMCO HONEYWELL INTL DISC 21-Nov-2000 11/21 /2000 21-Nov-2000 2 I-Nov-2000 LIQUID OPER-PIMCO FEDERAL HOME LN MTG CORP DIS 22-Nov-2000 MAT 1 I /22/2000 22-Nov-2000 22-Nov-2000 LONG TERM OPER-PIMCO FHLMC MULTICLASS CTFTI I A6 27-Nov-2000 6.500% 09/25/2018 25-0ct-2000 27-Nov-2000 LONG TERM OPER-PIMCO FORD MTR CR CO TERM ENHANCED 27-Nov-2000 FLTG RT 08/27/2006 DD 08/27/ 27-Nov-2000 27-Nov-2000 LONG TERM OPER-PIMCO GREYSTONE SVCNG CORP FHA #95 27-Nov-2000 7.430% 06/01/2003 DD 02/29/0 01-Nov-2000 27-Nov-2000 LIQUID OPER-PIMCO BECTON DICKINSON DISC 28-Nov-2000 11/28/2000 28-Nov-2000 28-Nov-2000 PAGE:. 33 AMOUNT/ COST/ GAIN/LOSS 16,325.00 0.00 0.00 9,795.00 0.00 0.00 28,213.33 0.00 0.00 10,833.33 0.00 0.00 33,900.00 0.00 0.00 8,089.26 0.00 0.00 13,122.00 0.00 0.00 Executive Workbench @ OCSGOOO I 0000 OCSD-CONSOLIDATED SHARES/PAR SECURITY ID TRANSCODE 0.00 990000PJ4 CD 500,000.00 313396R54 IT 0.00 79549BBG1 CD 0.00 9128272M3 CD 0.00 9128273A8 CD I l-Dec-2000 7:40:05 ij---, , .. \NG E COUNTY SANITATION DISTRICT ---II PORTFOLIO DETAIL 01-NOV-2000 -30-NOV-2000 TRANSACTION DESCRIPTION/ BROKER LONG TERM OPER-PIMCO SHORT TERM FDS INT ADJ NET OF OVERNIGHT INTEREST LONG TERM OPER-PIMCO FEDERAL HOME LN MTG CORP DIS MAT 11 /30/2000 LONG TERM OPER-PIMCO SALOMON SMITH BARNEY HLDGS I 3.650% 02/14/2002 DD 02114/ LONG TERM OPER-PIMCO US TREASURY INFLATION INDEX 3.375% 01/15/2007 DD 01 /15/ LONG TERM OPER-PIMCO US TREASURY INFLATION INDEX 3.625% 07/15/2002 DD 07/15/ TRADE DATE/ SETTLDATE/ COMPLDATE 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 30-Nov-2000 PAGE: 34 AMOUNT/ COST/ GAIN/LOSS 10.48 0.00 0.00 6,346.67 0.00 0.00 10,587.60 0.00 0.00 140,760.00 0.00 0.00 49,695.00 0.00 0.00 Execwive Workbench ROLL CALL FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE Meeting Date: December 13. 2000 Time: 5:00 p.m. Adjourn: u :{L.:,i COMMITTEE MEMBERS I~ \r;(,r'~ ~ ;../' .J:L JJ w ~ (/../ _!i___ v t + Q../ ~ ..--±_ -v $. AL _j_ OTHERS Tom Woodruff, General Counsel T ob Weisse rt, Carollo En ineers STAFF Blake Anderson, General Manager i/ David Ludwin, Director of Enqineering Bob Ooten, Director of 0 & M Lisa Tomko, Director of Human Resources v Garv Streed, Director of Finance v Patrick Miles, Director of Information Technoloav Robert Ghirelli, Director of Technical Services Lisa Lawson. Communications Manager --1.::::::::.. Greg Mathews, Assistant to the General Manager _V Mike White, Controller ,(/" Penny Kyle, Committee Secretary ~ c: Lenora Crane