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HomeMy WebLinkAbout2003-10-08MINUTES OF FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, October 8, 2003, 5:00 p·.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on October 8, 2003, at 5:00 p.m., in the Distirct's Administrative Office. (1) The roll was called and a quorum declared present, as follows: FAHR COMMITTEE MEMBERS: Directors Present: Brian Brady, Chair Roy Moore, Vice Chair Bill Dalton Mike Duvall Joy Neugebauer James W. Silva Shirley McCracken, Board Chair Steve Anderson, Vice Board Chair Directors Absent: Alberta Christy (2) APPOINTMENT OF CHAIR PRO TEM No appointment was necessary. (3) PUBLIC COMMENTS There were no public comments. (4) REPORT OF THE COMMITTEE CHAIR The Chair had no report. STAFF PRESENT: Blake Anderson, General Manager Gary Streed, Director of Finance/Treasurer Lisa Tomko, Director of Human Resources Carol Beekman, Communications Services Manager Mike White, Controller ._, Jeff Reed, Human Resources Manager Sonja Wassgren Ingrid Hellebrand Dionne Kardos Lynn Jensen Penny Kyle, Committee Secretary OTHERS PRESENT: Tom Nixon, General Counsel Steve Filarsky, Special Labor Counsel Toby Weissert FILED IN THE OFFICE OF THE SECRETARY ORANGE C('l!l~TV ~~MITATION DISTRICT OCT 22 2003 BY _____;l._-....;K ~, --- (5) REPORT OF THE GENERAL MANAGER The General Manager had no report. Min~tes of the Finance, Administration and Human Resources Committee Meeting Page 2 October 8, 2003 (6) REPORT OF DIRECTOR OF FINANCE/TREASURER Gary Streed, Director of Finance/Treasurer, reported that the on-site work has been completed by the audit team \Mth no significant issues. A report would be coming to the FAHR Committee in November. (7) REPORT OF DIRECTOR OF HUMAN RESOURCES The Director of Human Resources had no report. (8) REPORT OF COMMUNICATIONS SERVICES MANAGER The Communications Services Manager had no report. (9) REPORT OF GENERAL COUNSEL General Counsel had no report. (10) CONSENT CALENDAR ITEMS MOVED, SECONDED AND DULY CARRIED: To remove Agenda Item No. 1 O(g) from the Consent Calendar. a. The Chair ordered that the September 10, 2003 minutes for the Finance, Administration and Human Resources Committee meeting be deemed approved, as mailed. b. FAHR03-78 Recommend to the Board of Directors to receive and file Treasurer's Report for the month of September 2003. c. FAHR03-79 Receive and file Certificate of Participation (COP) Monthly Report. d. FAHR03-80 Receive and file Employment Status Report as of September 24, 2003. e. FAHR03-81 Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. f. FAHR03-82 Recommend to the Board of Directors to approve SAFETY-POL-114 Hazardous Waste Management Program, as provided for in Resolution No. OCSD 02-5, regarding the District's Injury and Illness Prevention Program. MOTION: It was moved, seconded and duly carried to approve the recommended actions for items specified as 1 0(a) through (f) under Consent Calendar. Director Duvall abstained on Item 1 0(a). END OF CONSENT CALENDAR Min~tes of the Finance, Administration and Human Resources Committee Meeting Page 3 October 8, 2003 Consideration of items deleted from Consent Calendar, if any. g. FAHR03-83 Recommend to the Board of Directors to adopt Resolution No. OCSD 03- -' Amending Resolution No. OCSD 98-33, Amending Human Resources Policies and Procedures Manual. Motion: Directors discussed language contained under Policy No. 8150, Section 6.2.1, and requested it be revised to add "or a member of the board of directors". MOVED, SECONDED AND DULY CARRIED: Recommend to the Board of Directors to adopt Resolution No. OCSD 03-_, Amending Resolution No. OCSD 98-33, Amending Human Resources Policies and Procedures Manual, to include the revised additional language "or a member of the board of directors" under Section 6.2.1. Director Neugebauer abstained. (11) ACTION ITEMS a. FAHR03-84 Recommend to the Board of Directors to receive and file Communications MOTION: Services Strategic Plan FY 2003-04. Carol Beekman, Communications Services Manager, discussed the Strategic Plan, and introduced members of the Communications Services team: Sonja Wassgren, Ingrid Hellebrand, and Dionne Kardos. They described various components of goals and objectives that would be targeted during the next year. Quarterly updates will be provided to the FAHR Committee. Directors entered into discussion regarding corporate identity and public confusion thinking the Sanitation District is a part of the County of Orange. It was moved, seconded and duly carried to recommend approval to the Board of Directors. b. FAHR03-85 Recommend to the Board of Directors to approve an Agreement with the Santa Ana Watershed Project Authority (SAWPA) to establish the purchase price for, and the purchase of 2.0 mgd Wastewater Treatment and Disposal Capacity Right for Desalter Brine for a total amount of $5,252,015.26, in a form approved by General Counsel. Blake Anderson, General Manager, advised this item had come before the FAHR Committee in September, and was deferred one month. He briefly reviewed the history of SAWPA's capacity agreement, and SAWPA's request to purchase an additional 2.0 mgd of capacity for disposal of low- strength discharge. Directors expressed some concern regarding approval of this agreement prior to the resolution of other pending issues with SAWPA. A meeting had been held earlier that week to resolve the , Mint1tes of the Finance, Administration and Human Resources Committee Meeting Page4 October 8, 2003 pending agreement of past due monies, and the formal agreement is expected to be submitted for approval during the November cycle. It was requested that General Counsel review the agreement carefully to make sure the interpretation of the verbiage contained was appropriate in order to avoid payment problems currently being faced as a result of the agreement entered into in 1972. Assistant General Counsel Tom Nixon assured the Directors he would review the agreement and provide revised language, as necessary, to avoid payment issues. MOTION: It was moved, seconded and duly carried to recommend approval to the Board of Directors. (12) INFORMATIONAL PRESENTATIONS a. FAHR03-86 Connection Fee Calculation Methods and Policies Gary Streed, Director of Finance, reported this was the second report on the Connection Fee Calculation Methods and Policies. He discussed: (1) Capital Investment Equalization Method, which was the method used to calculate connection fees in 1989 and 1999; (2) Variations on the Capital Investment Equalization Method, which provides two alternatives; (3) Growth Pays for Growth, the incremental cost method; (4) Bedrooms as Basis for Residential CFCCs; and (5) Sources of Future Flows. Mr. Streed reported that proposals for annexation fees and connection fees would be brought to the committee in the nearfuture for review. (13) CLOSED SESSION The Committee convened in Closed Session at 6: 15 p.m. pursuant to Government Code Section 54957.6 to discuss and consider Agenda Item Nos. 13(a) (1) and (2). Confidential Minutes of the Closed Session held by the Finance, Administration and Human Resources Committee have been prepared in accordance with California Government Code Section 54957.2, and are maintained by the Board Secretary in the Official Book of Confidential Minutes of Board and Committee Closed Meetings. A report of the actions taken 'Nill be publicly reported at the time the approved action becomes final re Agenda Items Nos. 13(a)(1) and (2). RECONVENE IN REGULAR SESSION: At 6:29 p.m., the Committee ieconvened in regular session. (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY There were none. (15) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT . Mii,utes of the Finance, Administration and Human Resources Committee Meeting Page 5 October 8, 2003 There were none. (16) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled 'br November 12, 2003 at 5 p.m. (17) ADJOURNMENT The Chair declared the meeting adjourned at 6:29 p.m. Submitted by: retary G:\wp.dta\agenda\FAHR\FAHR2003\0903\091003 FAHR Minutes.doc 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 ;:},~ ~ , 200.=, was duly posted for public inspection in the main lobby of the District's offices on be-@ / J..,d:r-, 200 IN WITNESS WHEREOF, I have hereunto set my hand this ;,J--day of Penny M. Kyle, Secretary Board of Directors Orange County Sanitation District \\RADON\DATA 1 \WP.OTA \ADMIN\BS\FORMS\AGENDA CERTIFICATION-FAHR COMMITTEE.DOC phone: '7141862-2411 tu: (714) 962-0356 -o.11.oam aalllne lllldrea: P.O. Bax 8127 FCluntaln Valley, CA 92728-8127 Ansne1m Bres Buena PBrlc CypreSf. Fountain ,VBftey FIJ//BrtlO{I Garden G-ave Halltmaton Beach lrv/ne Ls Habra ui Palms tD.sAJsmipOS , ;.JJe;,ipart ·81J1JCh -Orange PlecsntiB Ssnt:B Ans Sest Besch Stanton Tustin Villa Perle YoN>S Linde Dl•tN'OU Irvine Ranch •RANGE COUNTY SANITATION DISTRICT October 1 , 2003 NOTICE OF MEETING FlNANCE, ADMINISTRATION AND HUMAN RESOURCE.S COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY. OCTOBER 8, 2003 -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. To maintain world-class leadership in wastewater and water resource management. FINANCE. ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING DATES FAHR Committee Meeting Date October 8, 2003 November 12, 2003 December 10, 2003 Dark February 11, 2004 March 10, 2004 April 14, 2004 May 12, 2004 June 9, 2004 July 14, 2004 Dark September 8, 2004 Board Meeting Dates October 22, 2003 *November 19, 2003 *December 17, 2003 January 28, 2004 February 25, 2004 March 24, 2004 April 28, 2004 May 26, 2004 June 23, 2004 July 28, 2004 August 25, 2004 September 22, 2004 •Meetings being held the third Wednesday of the month. ROLL CALL FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE Meeting Date: October 8, 2003 Time: 5:00 p.m. Adjourn: ___ _ COMMITTEE MEMBERS Brian Brady (Chair) Roy Moore (Vice Chair) Alberta Christy Mike Duvall Bill Dalton Joy L. Neugebauer James W. Silva Shirley McCracken (Board Chair) Steve Anderson (Board Vice Chair) OTHERS Tom Woodruff, General Counsel Steve Filarsky, Special Labor Counsel Don Hughes STAFF Blake Anderson, General Manager David Ludwin, Director of Engineering Bob Ooten, Director of O & M Lisa Tomko, Director of Human Resources Gary Streed, Director of Financen-reasurer Patrick Miles, Director of Information Technology Robert Ghirelli, Director of Technical Services Carol Beekman, Communications Services Mgr Mike White, Controller Penny Kyle, Committee Secretary c: Lenora Crane AGENDA REGULAR MEETING OF THE FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATl·ON DISTRICT WEDNESDAY, OCTOBER 8, 2003, AT 5:00 P.M . . ADMINISTRATIVE OFFICE 10844 Ellis Avenue Fountain Valley, California 92708 www.ocsd.com Agenda Posting: 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. Items Not Posted: 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 because there is a need to take immediate action, which need came to the attention of the Committee subsequent to the posting of 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. Accommodations for the Disabled: The Board of Directors Meeting Room is wheelchair accessible. If you require any special disability related accommodations, please contact the Orange County Sanitation District Board Secretary's office at (714) 593-7130 at least 72 hours prior to the scheduled meeting. Requests must specify the nature of the disability and the type of accommodation requested. Items Continued: Items may be continued from this meeting without further notice to a Committee meeting held within five (5) days of this meeting per Government Code Section 54954.2(b)(3). Meetiflg Adj0urnment: This meeting may be adjourned to a later time and items of business from this agenda may be considered at the later meeting by Order of Adjournment and Notice in accordance with Government Code Section 54955 (posted within 24 hours). (1) ROLL CALL (2) APPOINTMENT OF CHAIR PRO TEM, IF NECESSARY Book Page 1 October 8, 2003 (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 three 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). (4) REPORT OF COMMITTEE CHAIR (5) REPORT OF GENERAL MANAGER (6) REPORT OF DIRECTOR OF FINANCE (7) REPORT OF DIRECTOR OF HUMAN RESOURCES (8) REPORT QF COMMUNICATIONS SERVICES MANAGEzR (9) REPORT OF GENERAL COUNSEL (10) CONSENT CALENDAR ITEMS Consideration of motion to approve all agenda items appearing on the Consent Calendar not specifically removed from same, as follows: {All ~atters p'laced on the consent calendar are considered as not requiring discussion or further explanation and 7 1 unless any particular item is requested to be removed from the consent calendar by a Director or staff member, 1 !there will be no separate discussion of these items. All items on the consent calendar will be enacted by one ! [action approving all motions, and casting a unanimous ballot for resolutions included on the consent calendar. All [ 1 items removed from the consent calendar shall be considered in the regular order of business. ! . 1 l F he Chair will determine if any items are to be deleted from the consent calendar. i --,._,.._.,,,,,.u .. ,, .. ,,,, .... _, ,..._,,,,,_.,.u,, ••~•·••• .. •••••1•""""'·•uu,n .. ,'-'•~,•-••u._.,,,.,.,, ••• ,•, ••••• .. •••o••••U•UN••••••-•'""•• .. ••,..••o tooHu .. ,, ....... u,,,doo .. u · ••••-H•n•••-v .. ••._ ...... , ....... •••••·••••~ .. •H•.• ,,,,,,._,. ... ,,.. ·, .. ,,,,,,I - a. Approve minutes of the September 1 O, 2003 Finance, Administration and Human , Resources Committee meeting. b. FAHR03-78 Recommend to the Board of Directors to receive and file Treasurer's Report for tt;ie month of September 2003. The Treasurer's Report will be distributed at the FAHR Committee meeting in accordance with the Board-approved Investment Policy, and in conformance to the Government Code requirement to have monthly reports reviewed within 30 days of month end. 2 Book Page 2 October 8, 2003 c. FAHR03-79 Receive and file Certificate of Participation (COP) Monthly Report. d. FAHR03-80 Receive and file Employment Status Report as of September 24, 2003. e. FAHR03-81 Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. f. FAHR03-82 Recommend to the Board of Directors to approve SAFETY-POL-114 Hazardous Waste Management Program, as provided for in Resolution No. OCSD 02-5, regarding the District's Injury and Illness Prevention Program. g. FAHR03-83 Recommend to the Board of Directors to adopt Resolution No. OCSD 03- _, Amending Resolution No. OCSD 98-33, Amending Human Resources Policies and Procedures Manual. END OF CONSENT CALENDAR Consideration of items deleted from Consent Calendar, if any. (11) ACTION ITEMS a. FAHR03-84 Recommend to the Board of Directors to receive and file Communications Services Strategic Plan FY 2003-04. (Carol Beekman -_ minutes) b. FAHR03-85 Recommend to the Board of Directors to approve an Agreement with the Santa Ana Watershed Project Authority (SAWPA) to establish the purchase price for, and the purchase of 2.0 mgd Wastewater Treatment and Disposal Capacity Right for Desalter Brine for a total amount of $5,252,015.26, in a form approved by General Counsel. (Gary Streed -15 minutes) (12) INFORMATIONAL PRESENTATIONS a. FAHR03-86 Connection Fee Calculation Methods and Policies (Gary Streed -1 O minutes) 3 Book Page 3 October 8, 2003 (13) CLOSED SESSION _ ...... •·••••·•-•o, .. -·•• .. -·•••••••••••• .................. r-•,·-•--·····•·· ........ H .... 00fU0,0HH••-•••·-•·· ... ••·······•••• .. ···--···•,Of00-0 .. f•• .. ••••• ... -....................................... .__..,,.OOO,Oo,OHH OOH,O .... OO .. O ..... OH•Oooo••····••, OOO .... OOHHOO,HH,OOOOO,O,OOOOh f During the course of conducting the business set forth on this agenda as a regular meeting of the ! : Committee, the Chair may convene the Committee in closed session to consider matters of pending real l 1 estate negotiations, pending or potential litigation, or personnel matters, pursuant to Government Code i j Sections 54956.8, 54956.9, 54957 or 54957.6, as noted. j i : -1 Reports relating to (a)' purchase. and sale of real property; (b) matters of pen.ding or potential litigation; (c), j \ ·employee actlon_s o,r ne_gotiation·s,with employee. representatives; or which· are· exempt from plJblic cjisclosure ! \ under the 9amomia Public R,ecords Act, rnay b,e reviewe.d by the Committee during a permit~~d closecl, r i session and are not ava.ilable for public inspection. At su~h tim~ as final actions are 1aken by lhe Committee i ! on,aRy of the;;_e subjects, the minutes will reflect all reql_lired <:lisclosures of iAformation. · i ! ...... ••••d .. ••••••••• .... •.,.••••-••oon...-.,0·••• .. •••••••••·•• .... • .... • .. •• .. •••n•.•• .... •-.•••••••1'"""•0•;•••••• .. •••• .. •u ........................ ,...,..,.,.•· ,,...,.,.,,.n .. ,..., • ....,,. .......... , ••• ,., .. ;,,-\.....,..,,, ... • .... ,., .... , ....... ..._. ... .,, __ ,.,.,,. ••• ,.,, .......... l A. Convene in closed session. 1. Confer with Lisa Tomko, Human Resources Director and Steve Filarsky, Special Labor Counsel, re Meet and Confer Update re Orange County EmP.loyees Asso.e1:jation (Govern ment Code Section 54957.6). 2. Confer with b.isa Tomko, Human R~sources Director and Steve Filarsky, Special Labor COLmsel, re Meet and Confer Update re Supervisor and Professional Mana!!)ement Team Group (Government Code Section 54957.6). B. Reconvene in regular session. C. Consideration of action, if any, on matters considered in closed session. (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY (15) MATTERS WHICH A DI RECTO R MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT (16) FUTURE MEETING DATES The next Finance, Administration and Human Resources Committee Meeting is scheduled for November 12, 2003, at 5 p.m. (17) ADJOURNMENT r··· ... , ... ,. •••• .. •••••· .. ····,_...•,_.......,, ..... -............................... ,o ......... _ .............................. _ O .... • ................ -•-•HH••H••• ......................... ~•·•-,.••n•·o••··U .................. O••• .. •n••••• • .................... , •• -•·-··••oon••Wh•0--000 .~: i Notice to Committee Members: I I For any questions on the agenda or to place any items on the agenda, Committee members should contact the /Committee Chair or Secretary ten days in advance of the Committee meeting. ~ !committee Chair: Brian Brady (949) 453-5300 )Committee Secretary: Penny Kyle (714) 593-7130 pkyle@ocsd.com [ General Manager Blake Anderson (714) 593-7110 banderson@ocsd.com )Director of Finance Gary Streed (714) 593-7550 gstreed@ocsd.com I Director of Human Resources Lisa Tomko (714) 593-71 45 ltomko@ocsd.com ! Comryiunic8;tion .. Services .M,anager ... carol Be~kman ............ -.......... (714) 593-71.20 ...... cbeekman@ocsd.com.......... ·-···-······ \ G:\wp.dta\agenda\FAHR\FAHR2003\1003\01.3. draft FAHR Agenda.doc 4 Book Page 4 October 1 , 2003 FAHR COMMITTEE AGENDA CALENDAR Month lte·m Action November Consider Annexation Charge Policy Action November Consider Capital Facilities Capacity Charges Action November Consider Revised Purchasing Resolution Action November FY 02/03 Comprehensive Annual Financial Report Action November FY 03/04 First Quarter Investment Management Report Action November Consider 03/04 First Quarter SW AP Report Information November FY 03/04 First Quarter Financial Report Action November Employee Reclassification Recommendations Action November Rideshare Program Changes Action December Consider Internal Auditing Firm Action December Consider Budget Assumptions, Calendar and Fiscal Action Policy Statements December Consider General Manager Approved Purchases Action January Consider Sewer Service User Fees for 2003-04 Information January Consider Quarterly SW AP Report Action BookPage5 MINUTES OF FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, September 10, 2003, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on September 10, 2003, 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: Brian Brady, Chair Roy Moore, Vice Chair Alberta Christy Bill Dalton Joy Neugebauer James W. Silva Shirley McCracken, Board Chair Steve Anderson, Vice Board Chair Directors Absent: Mike Duvall (2) APPOINTMENT OF CHAIR PRO TEM No appointment was necessary. (3) PUBLIC COMMENTS STAFF PRESENT: Gary Streed, Director of Finance/Treasurer Bob Ghirelli, Director of Technical Services Carol Beekman, Communications Services Manager Mike White, Controller Penny Kyle, Committee Secretary OTHERS PRESENT: Thomas L. Woodruff, General Counsel Randy Fuhrman Randy Fuhrman requested the Directors consider an installment process for payment of connection fees as opposed to a deferment for those property owners who abandon septic tanks and connect to the sewer system. (4) REPORT OF THE COMMITTEE CHAIR The Chair had no report. (5) REPORT OF THE GENERAL MANAGER Acting General Manager Bob Ghirelli announced that Greg Mathews, Administrative Services Manager, is leaving the District to take a position with the Los Angeles City Controller's Office. Book Page 6 Minutes of the Finance, Administration and Human Resources Committee Meeting Page2 September 1 O, 2003 Mr. Ghirelli reported efforts have been unsuccessful to obtain $3 million in EPA grants on the senate side. Efforts will now be focused on the conference committee bill. The EPA budget has earmarked approximately $3 milli.on for the entire state of California for various projects. Two of the District's projects (corrosion management and permanent bleach facilities) have been added to the priority list for grants on the state clean beaches initiative. The District has received a $20,000 grant from the US Bureau of Reclamation for the Ellis Pump Station project. The Fats, Oil and Grease project has made it to the second round of the Proposition 50 competitive grant program, which is a $250,000 grant request. Staff has been requeste.d to submit a final proposal to the Regional Water Quality Control Board for this grant. (6) REPORT OF DIRECTOR OF FINANCE/TREASURER Gary Streed, Director of Finance/Treasurer, announced that SAWPA wired the District the $1 million due upon signing the term sheet. He also referred the Directors to the Treasurer's Report distributed to the Directors which reflected this $1 million and the funded $280 million in certificates of participation. (7) REPORT OF DIRECTOR OF HUMAN RESOURCES The Director of Human Resources was not present. (8) REPORT OF COMMUNICATIONS SERVICES MANAGER Communications Services Manager Carol Beekman reported that the two private properties at Bushard and Ellis have been removetl from the list of possible locations for the new Ellis Avenue Pump Station, and the public comment period has been extended to September 22, 2003. The Directors would be kept apprised on the progress as alternative sites are identified. A signing ceremony is to be held at the District with the Army Corps of Engineers on September 17, 2003, at 10:00 a.m. with regard to a five•year cost•sharing agreement which will assist the environmental restoration of the neaM,ihore region of Orange County, as well as the study of various water issues. It was also noted that tlie $5 million the District recently spent on the Huntington Beach ocean studies is being credited as payment for this agreement. All Directors were invited to attend the ceremony. Ms. Beekman provided the Directors with a construction update on the Bushard Trunk Sewer and the Warner Avenue Sewer projects. Staff is working closely with the schools being impacted by the construction, as well as the residents and businesses. It was also noted the District participated in the two•day Seal Beach Sandcastle Festival, distributing information on urban runoff and fats, oil and grease at this event. (9) REPORT OF GENERAL COUNSEL General Counsel had no report. Book Page 7 Minutes of the Finance, Administration and Human Resources Committee Meeting Page3 September 1 0, 2003 (10) CONSENT CALENDAR ITEMS a. The Chair ordered that the August 13, 2003 minutes for the Finance, Administration and Human Resources Committee meeting be deemed approved, as mailed. b. FAHR03-70 Recommend to the Board of Directors to receive and file Treasurer's Report for the month of August 2003. c. FAHR03-71 Receive and file Certificate of Participation (COP) Monthly Report. d. FAHR03-72 Receive and file Employment Status Report as of August 14, 2003. e. FAHR03-73 Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. f. FAHR03-74 Receive and file report of General Manager approved purchases in MOTION: amounts exceeding $50,000 in accordance with Board purchasing policies. It was moved, seconded and duly carried to approve the recommended actions for items specified as 1 0(a) through (f) under Consent Calendar. END OF CONSENT CALENDAR (11) ACTION ITEMS a. FAHR03-75 Recommend to the Board of Directors to approve an Agreement with the Santa Ana Watershed Project Authority (SAWPA) to establish the purchase price for, and the purchase of 2.0 mgd Wastewater Treatment and Disposal Capacity Right for Desalter Brine for a total amount of $5,252,015.26, in a form approved by General Counsel. Gary Streed, Director of Finance, briefly reviewed the history of SAWPNs capacity agreement, and SAWPA's request to purchase an additional 2.0 mgd of capacity for disposal of low-strength discharge. Directors entered into discussion regarding the impact of approving this agreement prior to the resolution of other pending issues with SAWPA. A motion was moved and seconded to have the item held over until the following month. Chair Brady then directed the item be deferred to staff for one month to provide additional clarification. Book Page 8 Minutes of the Finance, Administration and Human Resources Committee Meeting Page 4 September 1 O, 2003 b. FAHR03-76 Recommend to the Board of Directors to approve a policy allowing loans MOTION: for Capital Facilities Capacity Charges (connection fees) to property owners who abandon septic tanks and connect to a sanitary sewer, as recommended by the Steering Committee. Gary Streed Director of Flhance, reported there were approximately 1,500 properties in the District's service area on septic tanks. Various methods of encouraging these property owners to abandon septic tanks and to connect to the sewer system have been discussed recently at the Steering Committee. The current ordinance does not allow fees to be waived or set aside. However, a revised ordinance could be adopted to include findings that would allow an offset or credit to the Capital Facilities Capacity Charge (CFCC). Directors discussed all costs involved in the abandonment of septic tanks and the connection to a sanitary sewer system, and also the concerns of a deferment of fees vs. annual payment of fees. It was moved, seconded and duly carried to recommend approval to: (1) Adopt a policy allowing property owners who currently use septic tanks to make annual payments for the Capital Facilities Capacity Charge (CFCC) and Annexation Fee , if appropriate, over a period not to exceed five years at an interest rate of 3% per year, collected on the property tax bill, provided that the balance be paid immediately should a change in ownership occur; and, (2) Refer consideration of providing grants to partially fund the total costs to abandon an existing septic tank, construct a lateral to an existing local sewer, payment of the CFCC, and payment of an Annexation Fee, if needed, to the Guidance Review Committee for Cooperative Projects and the PDC Committee. Director Roy Moore opposed. (12) INFORMATIONAL PRESENTATIONS a. FAHR03-77 Connection Fee Calculation Methods and Policies Gary Streed, Director of Finance, explained the process of calculating Capital Facilities Capacity Charges (CFCC), which would provide the background required to understand the existing program. CFCC rate change discussions and consideration would be held in October or November. BookPage9 Minutes of the Finance, Administration and Human Resources Committee Meeting Pages September 10, 2003 (13) CLOSED SESSION There was no closed session. (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY There were none. (15) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT There were none. (16) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled br October 8, 2003 at 5 p.m, (17) ADJOURNMENT The Chair declared the meeting adjourned at 7:13 p.m. Submitted by: Penny M. e FAHR Committee Se tary G:\wp.dta\agenda\FAHR\FAH 003\09031091003 FAHR Minutes.doc Book Page 10 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Gary G. Streed, Director of Finance Originator: Michael D. White, Controller Meeting Date 10/08/03 Item Number FAHR03-79 SUBJECT: CERTIFICATES OF PARTICIPATION (COP) MONTHLY REPORT - SEPTEMBER 2003 GENERAL MANAGER'S RECOMMENDATION Receive and file Certificates of Participation (COP) Monthly Report for the month of September 2003. SUMMARY To Bel. of Dir. 10/22/03 Item Number 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. In August 2003, the District issued $280 million of fixed rate COPs, Series 2003, that have varying coupon rates that are matched against the varying maturity dates. The true interest cost for the entire issue is 5.15 percent. 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. ~9me issuers believe that having more than one remarketing agent promotes competition and results:·ih 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. Book Page 11 PRIOR COMMITTEE/BOARD ACTIONS N/A 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. 0 This item has not been budgeted. [81 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 "swap." The second bar chart entitled, "Comparative Daily COP Rate History R~port," shows the performance of the District's Daily Rate COPs as compared to a composite index rate, which represents the average rate of six similar variable rate daily reset borrowings. The third bar chart entitled, ''COP Rate History, Comparison of Highest & Lowest Rates," oomJDares the performance (morithly average interest rate) 0f th'e District's Daily Rate COPs with the highest and lowest moAthly average rates from among si~ 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 compalied to the composite index. Estimated annual interest payments calculated fer a standard $1 00 millien par a:mount, are also shown. Variable rates historically rise at the end of each calendar quarter, and especially at year-end, because of business taxes and liquidity requirements. The rates tend to decline to prior levels immediately in the following month. Staff maintains continuous rate monitoring and ongoing dialog with the remarketing agents to keep the Committee fully informed about developments in the program as they may occur. ATTACHMENTS 1. Graph -QCSD COP Daily Rate History Report 2. Graph -Comparative Daily COP Rate· History Report 3. Graph -COP Rate History, C0mparison of Highest & Lowest Rates 4. Tabular-COP Rate History, Comparison of Monthly Averages GGS:MW:lc G:\wp.dta\agenda\FAHR\FAHA2003\1003\03-79.COP Apt.doc Revised: 06/04/03 Book Page 12 Page2 to 0 0 ?;" "O s:,, (1(1 0 ...... l;,} Prepared by Finance, 9/30/2003, 4:17 PM COMPARATIVE DAILY COP RATE HISTORY REPORT September 2003 4.00 ...... 3.00 -t----------------------------------------------1 -~ ~ ~ 2.00 ~ I ,..._.... rr-, r,---- 1.00 -1-1 I l-~1 I ,--- n7 I I r---,- • 0.00 DATE N N N C') C') C') C') C') C') C') C') C') 0 0 0 0 0 0 0 0 0 0 0 0 tf >" <.f c ..c ..: ..: ~ c :S cii ci. 0 (I) ro (I) Ill Q. ro ::::, ::::, (I) 0 z 0 --, LL 2 <{ 2 --, --, <{ er., mocso •COMPOSITE INDEX G:\excel.dta\fin\2220\geggi\Finance\dailycopintrate.xls t:o 0 ~ i -.j::. Prepared by Finance, 9/30/2003, 4:18 PM Oct-02 Nov-02 Dec-02 Jan-03 Feb-03 Mar-03 Apr-03 May-03 Jun-03 Jul-03 Aug-03 Sep-03 AVERAGE DAILY COP RA TE HISTORY COMPARISON OF MONTHLY AVERAGES OCT 2002 -SEP 2003 OCSD $218.6M $46M Series 2000 Series 93 Ref Composite Paine Webber Paine Webber Index* 1.61 1.61 1.60 1.33 1.33 1.32 1.05 1.05 1.04 0.85 0.85 0.85 1.05 1.05 1.04 1.05 1.05 1.05 1.16 1.16 1.15 1.21 1.21 1.19 0.99 0.99 0.98 0.67 0.67 0.68 0.77 0.77 0.76 0.89 0.89 0.88 1.05% I 1.05% 1.05% ESTIMATED ANNUAL INTEREST PAYMENTS PER $1 00M PAR AMOUNT $ 1,os2.5oo I $ 1,052,500 I $ 1,045,000 * FOOTNOTE Composite index consists of the following COP transactions: . IRVVD, Series 86-COP, 88, 95, $106.1M, Solomon Smith Barney . IRVVD, Series C-Ref 93-B, 85-B, $62.1 M, Lehman Brothers . IRVVD, Series 91, 93, 85, $93.0M, PaineWebber . IRVVD, Series 89, C-Ref 93-A, C-Ref 95, $70.9M, Merrill Lynch . Western Riverside Co. Reg. Wastewater Auth., Series 96, $25.4M, PaineWebber . Orange Co., Irvine Coast Asst. Dist. 88-1, $94.5M, J.P. Morgan G:\excel.dta\fin\2220\geggi\Finance\COPdaily$rate comparison ~ I ~~l?d ){OOS: (j) "ti t C CD ~ "O X RATE(%) Q) 0 -f CD ~ a. m a. C" iii 0 -N w .si,. U'I 0) '< :ii ,, ::, 2-Oct-02 5· "5 Q) N ::, N 16 9 {C 16-0ct-02 co (1) c:;; {C {C 0 ~ is5 30-Oct-02 0 5· 0 Q) s,, ::, !i 13-Nov-02 ~ ...... ~ co "ti ~. s: m "27-Nov-02 :I: cii --t I 11-Dec-02 + r{ I I I I * r!i 11 0 m -.J 25-Dec-02 + I ~ I I I * l Q 11 0 en 8-Jan-03 + ry-r * I Q 11 C 0 22-Jan-03 + ~ I * Q 11 0 5-Feb-03 I "tJ ++ 19-Feb-03 en C m~ )>"'O '"1] r--i:u 5-Mar-03 G)-· -I -< ::J cnro ~i 19-Mar-03 m $! Uc:, CT ~-I CD 2-Apr-03 ..... co t.> mm 16-Apr-03 ::0 :c + + 30-Apr-03 f N-o en 0 -I cn"'O 14-May-03 wO g~ G)N 28-May-03 :;o (DO :JO -< cno :E 11-Jun-03 :::u Ill u m 25-Jun-03 "tJ 9-Jul-03 + I(. I * I Q I : 0 ::0 23-Jul-03 t ~I I I I f I ¢ 1 i -I I 6-Aug-03 20-Aug-03 3-Sep-03 17-Sep-03 t ~ I I I * I i;i I ~ -~ w t-~ 1.5 1.25 1 0.75 0.5 I • .. ·• HIGH LOW IPW/IRIM) o,E.RYLIIR\11,U COP RATE HISTORY COMPARISON OF HIGHEST & LOWEST RATES ----~~~~~=~~~~~~-~-.. _ .... _ __, ___ _, lt,!I !!if! i!! i ••• ••• ••• ••• ••• ··: •• ·:· it! n· :1! ::: • • ·:· • • ••• +•+ ••• u: ••• .... ••• ••• ·:· hl • ::i U: ••• ••• •• •• •• :+•• ••• ::: :u : .. , .. May 03 1110 OJ '"' 03 1 PWIIRI/\ID I rW/lfW\/0 11LEH/IRWD 11LEH/IRWO 1 fylERYLIIRV-.0 MERYUIRWD MERYUIRWD MERYUIRV\/0 AilQ..ll3. C Highest rate • OCSD/PW 2000 • OCSD/PaineWebber • Lowest rate •• ••• ••• ••• ••• ··1 P• :U w .a •t· :.: ••• ••• ••• :•• •• ILEH/IR\1\/D SB/l~yvD 1r111 1111 i1f !Ii If jl Sllll.Jl3. G:\excel.dta\fin\2220\geggi\Finance\RA TEHIST _HILO _bargraph Prepared by Finance, 9/30/2003, 4:19 PM FAHR COMMITTEE Meeting Date 10/08/03 AGENDA REPORT Item Number FAHR03-80 Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources Originator: Lisa Arosteguy, Human Resources Supervisor SUBJECT: EMPLOYMENT STATUS REPORT AS OF SEPTEMBER 24, 2003 GENERAL MANAGER1S RECOMMENDATION Receive and file the Employment Status Report SUMMARY The number of full-time equivalent (FTE) employee at the District is 545.25 as of September 24, 2003 PRIOR COMMITTEE/BOARD ACTIONS N/A 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. IZ! Not applicable (information item) ADDITIONAL INFORMATION The actual number of employees (headcount) 555 as of September 24, 2003. To Bel. of Dir. Item Number • Ron Cortez and Ken Wong were promoted from Plant Operator to Senior Plant Operator (Plant 1 Operations). • Enrique Pantoja was promoted from Plant Operator to Senior Plant Operator (Plant 2 Operations). G:lwp.dtalagenda\FAHRIFAHR2003\1003103-80.Employment Status.doc Revised: 06/04/03 Book Page 17 Page 1 • Vananh Nguyen was promoted from Laboratory Analyst to Senior Lab Analyst (Environmental Sciences Lab). • Richard Spencer was promoted fr;om Human Resources Analyst to Employee Development Supervisor (Employee Development & Training). • David Yager was promoted from Mechanic to Source Control Inspector I (Source Control). There were two new hires: • Senior Laboratory Analyst (Environmental Sciences Lab) • Mechanic (Mechanical Maintenance) ALTERNATIVES NIA CEQA FINDINGS NIA ATTACHMENTS 1 . Employment Status Report 2. Performance compared to budgeted FTE's G:\wp.dta\agenda\FAHR\FAHR2003\ 1003\03-80.Employment status.doc Revised: 06/04/03 Book Page 18 Page2 to 0 0 ~ '"C J'J (1) .... \0 ; ~~-""": ' --•r.-:. --~--- AUTHORIZED FTE DIV REG 0.50 0.75 110 General Management Admin 2.00 . . I 120 Administrative Services 8.00 0.50 . 130 Communication Services 7.00 . - General Management Totals 17.00 0.50 . 210 Finance Administration 2.00 . . 220 Accounting 18.00 . 230 Purchasing & Warehousing 19.00 0.50 Finance Totals 39.00 0.50 . 510 Human Resources Admin 5.00 . . Interns Intern Program (510) 9.00 . . 520 Employee Development 3.00 . 530 Safety & Health 7.00 . . 540 Human Resources 6.00 . . Human Resources Totals 30.00 . . 610 Technical Services Ad min 2.00 . . 620 Environmental Comp & Mont 21.00 . . 630 Environmental Laboratory 36.00 1.00 - 640 Source Control 40.00 . . Technical Services Totals 99.00 1.00 . 710 Engineering Admin 3.00 -. 740 Planning 14.00 . - 750 Project Management Office 14.00 . 0.75 760 Engineering & Construction 48.00 . . Engineering Totals 79.00 . 0.75 810 O&M Administration 2.00 . - 420 Collection Facilities Mice 28.00 1.00 - 430 Facilities Maintenance 31.00 1.00 . 820 O&M Process Support 14.00 0.50 - 830 Plant 1 Operations 40.00 0.50 0.75 B40 Plant 2 Operations 45.00 0.50 . 850 Mechanical Maintenance 55.00 0.50 . 860 Electrical & Instrumentation Mtce 54.00 0.50 - 880 Air Quality & Special Projects 11.00 . - Operations & Maintenance Totals 280.00 4.50 0.75 ' 910 IT Administration 2.00 . . 930 Customer & Network Support 17.00 . . 940 Programming & Database Sys 12.00 . . 950 Process Controls Integration 13.00 . Information Technology Totals 44.00 . . GRAND TOTAL I 588.00 6.50 1.50 = TOTAL ~ ' AUTHORIZED FTE 596.00 G:\wp.dta\agenda\FAHR\FAHR2003\ 1003\03-80.1 EMPLOYMENT STATUS REPORT1 ACTUAL FT£ Recruitments Vacancies TOTAL REG 0.50 0.75 LOA TOTAL: 2.00 2.00 -. -.zoo . 8.50 7.00 0.50 1.00 8.60 . 7.00 6.00 . . . I 6.00 1.00 1.00 17.50 15.00 0.50 . 1.00 ,' 16;50 1.00 1.00 2.00 2.00 . -. '2.00 . . 18.00 15.00 . 0.75 -. ,}5.:76 2.00 2.25 19.50 17.00 1.00 . -18/)9 1.00 1.50 39.50 34.00 1.00 0.75 . 35.75 3.00 3.75 5.00 3.00 . -1.00 4.00 1.00 1.00 9.00 . 4.00 . . 4.00 1.50 5.00 3.00 2.00 . -. I tw . 1.00 7.00 7.00 . -. I 7.'Gg . . 6.00 6.00 . . . 6.°go . . 30.00 18.00 4.00 . 1.00 23.00 2.50 7.00 2.00 2,00 . . -2.00 . -.. 2i.OO 19.00 0.50 . -1ff50 . 1.50 37.00 30.00 2.00 -. jzoo 4.00 5.00 40.00 37.00 --. Jl,00 2.00 3.00 100.00 88.00 2.50 . -90.50 6.00 9.50 3.00 3.00 ---3.00 . . 14.00 14.00 . . . 14.00 . . 14.75 10.00 -1.50 . 11.50 1.00 3.25 411;00 44.00 . -3.00 47.00 1.00 1.00 79.75 11.00 . 1.50 3.00 15.50 2.00 4.25 2:00 2.00 . . -2.00 . - 29.00 20.00 1.00 . . 21.00 7.00 8.00 32,00 28.00 1 00 . 1.00 30.00 1.00 2.00 14.50 11.00 0.25 -. tUS 3.00 3.25 41.25 36.00 0.50 0.75 37.25 3.00 4.00 45.50 44.00 0.50 . -44.50 . 1.00 55.50 54.00 0.50 -1.00 55:60 -. 54.50 52.00 0.50 -1.00 53.50 1,00 1.00 11.001 11.00 . --11.00 . - 285.25 258.00 4.25 0.75 3.00 266.00 15.00 19.25 2.00 2.00 . -. 2.00, . . 17.00 14.00 . . 1.00 f5.00 1.00 2.00 12.00 10.00 --. ,1().00 . 2.00 13.00 11.00 C . . 11.00 . 2.00 44.00 37.00 -. 1.00 38:00 1.00 6.00 521.00 12.25 3.00 9.00 ------ ·I TOTAL I· Total Total Vacancies ACTUALFTE Recruitments + (less recruitments) 545_25 30.50 20.25 10/1/2003 to 0 ~ i N 0 600 --+-AUTHORIZED FTE --a-ACTUAL FTE - - JAN FEB 567 567 532.50 535.50 STAFFING REPORT MAR APR MAY JUN JUL AUG SEP OCT NOV DEC 567 567 567 567 596 596 596 596 540.00 539.75 540.75 540.75 543.25 544.75 544.25 545.25 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Lisa L. Tomko, Director of Human Resources Originator: Jim Matte, Safety & Health Supervisor Meeting Date To Bel. of Dir. 10/08/03 Item Number Item Number FAHR03-81 SUBJECT: OSHA Incidence Rates and Workers' Compensation Claims and Costs Report GENERAL MANAGER'S RECOMMENDATION Receive and file the OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. SUMMARY Safety and Health Division staff track OSHA Incidence Rates for DART * Cases (DART Incidence Rate) and Total Accidents (Total Injury Frequency Rate). There were seven DART Cases District-wide for the period of January-August 2003. The industry average is 5.4 for the DART Case Incidence Rate while the District Incident Rate is 1.98 for the period of January-August 2003. There have been eight OSHA Recordable Accidents District-wide for the period of January-August 2003. The industry average is 9.0 for the Total Injury Frequency Rate while the District Incident Rate is 2.26 for the period of January-August 2003. * DART is an acronym that stands for Days Away, Restricted, or Transfer and replaces the phrase Lost Workday. The Division also tracks the District's Workers' Compensation Claims and Costs. The District's claim count for Fiscal Year 2003-2004 is zero. The costs associated with these claims for year-to-date is $0.00, which includes medical bills, temporary disability payments, legal costs and a claim reserve account. PRIOR COMMITTEE/BOARD ACTIONS N/A PROJECT/CONTRACT COST SUMMARY N/A Revised: 06/04/03 Page 1 Book Page 21 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. [gl Not applicable (information item) ADDITIONAL INFORMATION The District had six DART cases and one other injury that required medical treatment for the period of January-August 2003. The reporting period is for 45 days prior to committee meeting. ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS 1. OSHA Incidence Rates Reports for DART Cases and Total Injuries 2. Worker's Compensation Claims and Costs Revised: 06/04/03 Book Page 22 Page2 , -- Safety Division DART Cases District-Wide There have been seven DART Cases in 2003 (January -August) (DART-Days Away, Restricted or Transfer; replaces Lost Work Day.) 1999 DART Cases 2000 2001 Galendar Year 2002 2003 OSHA Incidence Rates District-Wide The industry average is 5.4 and the DART Incidence Rate for the district is 1.98 for 2003 (January -August). The OSHA rate is calculated by multiplying the number of injuries by 200,000 and dividing the sum by total hours worked. The rate is also based on the data for the calendar year so the rate will change as the number of hours worked increases. Q) 5.00 "la 4.00 a: Q) 3.00 0 C 2.00 Q) :!2 1.00 0 -= 0.00 1999 OSHA Incidence Rates DART Cases 2000 2001 calendar Year 2002 2003 Book Page 23 Total Injuries District-Wide There have been eight OSHA Recordable Accidents for 2003 (January -August) Total OSHA Recordable Accidents 0 .l!l 60 ~ I~ ~ 1=rBErrci--c:::1-- 1999 2000 2001 2002 2003 Calendar Year OSHA Incidence Rates District-Wide The Total Injury Frequency Rate is a combination of the DART Cases and the cases that require Other Medical Treatment. The industry average for Total Injury Frequency rate is 9.0 and the District rate-is 2.26 for 2003 (January -August). First Aid cases are not included in the calculation of this rate. 10.00 * 8.00 a: Q) 6.00 u C 4.00 Q) "C ·u 2.00 E 0.00 OSHA Incidence Rate Total Injuries 1999 2000 2001 Calendar Year 2002 2003 Book Page 24 Workers Compensation Claims and Costs The Workers Compensation Claims and Cost are reported by fiscal year. The DART and Total Injury graphs shown above are calendar year rates as required for OSHA recordkeeping. All claims and medical invoices are reviewed by a third party to ensure that proper medical treatment is provided for injured employees and the costs for the treatment are within established guidelines. The medical bills reviewed July 2003 -August 2003 totaled $40,651.25 Medical treatment costs are charged to the fiscal year in which the injury occurred. All open claims have the potential to incur additional cost. After the medical review process, the amount was reduced to $21,045.97, which resulted in savings of $19,605.28 for this reporting period. Workers Compensation Claims and Costs Fiscal Period Claim Count Open Claims Total Incurred 7 /1 /85 -6/30/86 38 0 $270,712 7/1/86 -6/30/87 53 0 $99,933 7/1/87 -6/30/88 51 0 $173,583 7 /1 /88 -6/30/89 41 0 $153,481 7/1/89 -6/30/90 61 0 $287,442 7/1/90 -6/30/91 76 0 $121,978 7/1/91 -6/30/92 58 2 $213,232 7 /1 /92 -6/30/93 58 0 $93,198 7/1/93-6/30/94 47 0 $217,922 7/1/94 -6/30/95 46 0 $276,359 7/1/95 -6/30/96 46 1 $191,323 7/1/96 -6/30/97 36 1 $377,924 7/1/97 -6/30/98 45 1 $1 ,026,722 7 /1 /98 -6/30/99 38 2 $288,508 7/1/99 -6/30/00 43 4 $354,404 7/1/00-6/30/01 32 4 $434,363 7/1/01 -6/30/02 30 9 $226,113 7 /1 /02 -6/30/03 18 5 $88,734 7 /1 /03 -6/30/04 0 0 YTD $0.00 "Total Incurred" includes medical bills, temporary disability payments to employees, legal costs, and a claim reserve account. Book Page 25 FAHR COMMITTEE Meeting Date 10/08/03 AGENDA REPORT Item Number FAHR03-82 Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources ORIGINATOR: James Matte, Safety and Health Supervisor SUBJECT: Safety Policy, Hazardous Waste Management Policy GENERAL MANAGER1S RECOMMENDATION To Bel. of Dir. 10/22/03 Item Number Approve SAFETY-POL-114, Hazardous Waste Management Policy as provided for in Resolution No. OCSD 02-5, regarding the District's Injury and Illness Prevention Program. SUMMARY The District is implementing a written policy to adopt requirements of the California Department of Toxics Substances Control Regulations, found in Title 22 of the California Code of Regulations that require specific work and practices be performed when working with hazardous waste. This is a new program combining elements found in existing Safety and Health and Operations and Maintenance programs. The District routinely generates approximately 10 tons of hazardous waste from operations and maintenance activities. Other hazardous waste is generated through remodeling or demolition of existing facilities that contain regulated materials such as asbestos. All of this material is managed in a manner that minimizes adverse effects to human health and the environment and complies with local, state and federal regulations. Since 1998, the District has minimized the amount of hazardous waste routinely generated by 50 percent. The document presented for your review and adoption represents the Districts written Hazardous Waste Management Policy that conforms to the elements defined in the California Department of Toxics Substances Control Regulations, Title 22 of the California Code of Regulations. 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. Book Page 26 D This item has not been budgeted. ~ Not applicable (information item) ADDITIONAL INFORMATION Policy required under the California Department of Toxics Substances Control Regulations , found in Title 22 of the California Code of Regulations. ALTERNATIVES Not Applicable CEQA FINDINGS Not Applicable ATTACHMENTS Attachment 1-Hazardous Waste Management Policy (SAFETY-POL-114) G:\wp.dtalagenda\FAHRIFAH R200311003\03·82.SAFETY ·POL· 114.doc Revised: 8/20/01 BookPage27 Page2 ORANGE COUNTY SANITATION DISTRICT Safety and Health Division SAFETV-POL-114 Hazardous Waste Management Program APPROVALS Approved by: ___________________ Date: ___ _ Director of Human Resources Approved by: ___________________ Date: ___ _ Manager, Human Resources Approved by:. ___________________ Date: ___ _ Safety and Health Supervisor PROCEDURE REVISION HISTORY Rev. Date Approval 0 10/24/03 L. Tomko This document is controlled when viewed online. When downloaded and printed, this document becomes UNCONTROLLED, and users should check the Safety and Health public folder to ensure that they have the latest version. Book Page 28 Hazardous Waste Management Program SAFETY-POL-114 Contents 1. Purpose ............................................................................................... 3 2. Definitions ........................................................................................... 3 3. Requirements ...................................................................................... 4 3.1 Safety and Health Division ....................................................................... 4 3.2 Hazardous Waste Generating Divisions .................................................. 5 3.3 Project Coordinators ................................................................................ 5 3.4 Construction Management.. ..................................................................... 6 4. Hazardous Waste Minimization ......................................................... 7 5. Security Issues····························~······················································ 7 6. Program Administration and Evaluation ........................................... 8 7. References .......................................................................................... 8 8. Attachments ........................................................................................ 8 Rev.O Date: October 24, 2003 g:\wp.dta\agenda\fahr\fahr2003\ 1003\03-82.1.doc Book Page 29 Hard Copy Is Uncontrolled 2 of 8 Number: SAFETY-POL-114 @ Orange County Sanitation District Revision Number: 0 Hazardous Waste Management Program Date: October 24, 2003 1. Purpose 2. Definitions Contractor Hazardous Material Approved by: Lisa Tomko To effectively manage hazardous waste, the District shall: 1 . Minimize solid hazardous waste disposal through recognized hazardous waste source reduction techniques 2. Dispose of hazardous waste in a manner that minimizes negative environmental effects. 3. Use appropriate hazardous substance handling and disposal techniques during operations to protect the public health, employees, and the environment. 4. Take necessary actions to mitigate the effects of accidental hazardous waste releases into the environment. This policy provides the guidelines for management of hazardous waste to minimize human exposure protect the environment, and satisfy current regulatory requirements. Any no_n-district employee on a district site for business purposes or acting on the district's behalf as a service provider. Any product regulated by OSHA Hazardous Waste Any hazardous material that cannot be used for intended purposes and, which meets the following criteria: Rev. 0 Date 1/30/01 A. is listed in State or Federal regulations B. is a characteristic waste as defined in regulations Hard Copy Is Uncontrolled 3 of 8 g:\wp.dta\agenda\fahr\fahr2003\ 1003\03-82.1 .doc Book Page 30 Hazardous Waste Management Program SAFETY-POL-114 Hazardous Waste Handling, storage, transportation, processing, treatment, Management recovery, recyding, transfer, and disposal of hazardous waste. Project Coordinator Any person responsible for overseeing a District contract or project. 3. Requ irements Hazardous waste must be managed in a way that minimizes its effect on human health and the environment, while complying with applicable state and federal requirements. This section specifies each Department's responsibilities with respect to hazardous waste management. 3.1 Safety and Health Division Rev. O 1. Develop procedures for properly managing hazardous waste. 2. Select vendors to properly transport and dispose of hazardous waste in a manner that limits District's liability and minimizes environmental effects. 3. Ensure a budget is maintained for the disposal of hazardous waste routinely generated by District activities. 4. Inspect hazardous waste accumulation areas. 5. Interface with hazardous waste transporters and disposal facilities. 6. Sign hazardous waste manifests prior to transport 7. Participate in required hazardous waste management and Department of Transportation training. 8. Interface with local, state and federal agencies on hazardous waste issues. 9. Complete requi red regulatory reports for hazardous waste, including hazardous waste fee and tax reports. 10. Analyze proposed legislation on hazardous waste issues for impacts on the District. Date: October 24, 2003 g:\wp.dta\agenda\fahr\fahr2003\ 1003\03-82.1 .doc Hard Copy Is Uncontrolled 4 of 8 Book Page 31 Hazardous Waste Management Program SAFETV-POL-114 11. Develop hazardous materials site security plan. 3.2 Hazardous Waste Generating Divisions 1 . Participate in required hazardous waste management training. 2. Manage hazardous waste in accordance with established District procedures. 3. Develop processes that minimize the amount of hazardous waste generated. 4. Ensure hazardous waste is placed in appropriate containers. 5. Contact the Safety and Health Division regarding hazardous waste pick ups including types and quantities. 6. Contact the Safety and Health Division regarding new waste streams or disposal options. 7. Do not transport hazardous waste between District facilities. 8. Do not use unapproved hazardous waste transporters or disposal facilities. A. Safety and Health is responsible for approving hazardous waste transporters and disposal firms. 3.3 Project Coordinators Rev. O 1 . Contact the Safety and Health Division regarding new waste streams or disposal options. A. Contact shall be : (1) In the project planning stages before contracts go out to bid. (2) For emergency projects, at the time the contract is let. 2. Ensure projects have adequate funding for hazardous waste management. Date: October 24, 2003 g:\wp.dta\agenda\fahr\fahr2003\ 1003\03-82.1.doc Hard Copy Is Uncontrolled 5 of 8 Book Page 32 Hazardous Waste Management Program SAFETV-POL-114 3. Participate in required hazardous waste management training. 4. Manage hazardous waste in accordance with established District procedures. 5. Ensure hazardous waste is placed in appropriate containers by contractors. 6. Do not direct contractors to transport hazardous waste between District facilities. 7. Do not direct contractors to use unapproved hazardous waste transporters or disposal facilities. A. Safety and Health is responsible for approving hazardous waste transporters and disposal firms. 3.4 Construction Management Rev. 0 1 . Contact the Safety and Health Division if contractors develop new hazardous waste streams not previously identified. A. Contact may be : (1) Through the project coordinator. 2. Participate in required hazardous waste management training. 3. Manage hazardous waste in accordance with established District procedures. 4. Ensure hazardous waste is placed in appropriate containers by contractors. 5. Do not direct contractors to transport hazardous waste between District facilities. 6. Do not direct contractors to use unapproved hazardous waste transporters or disposal facilities. A. Safety and Health is responsible for approving hazardous waste transporters and disposal firms. Date: October 24, 2003 g:\wp.dta\agenda\fahr\fahr2003\ 1003\03-82.1.doc Hard Copy Is Uncontrolled 6 of 8 Book Page 33 Hazardous Waste Management Program SAFETY-POL-114 4. Hazardous Waste Minimization The District as an environmental steward will practice the concept of hazardous waste minimization. The term hazardous waste minimization includes source reduction and environmentally sound recycling. The District will always attempt to reduce the amount of hazardous waste generated first by: 1 . Preventing the generation of hazardous waste via product substitution. A. Choosing a less hazardous material as the ingredients in a process. 2. Reducing the amount of hazardous material at the source. 3. Recycling hazardous wastes on site for reuse in the original process. 4. Recycling hazardous wastes off site for reuse by either the District or other users of the material. Waste minimization does not include waste treatment, which is any process designed to change the physical, chemical or biological character or composition of a hazardous waste-or waste disposal. For example, compacting, neutralizing, diluting and incineration are not hazardous waste minimization practices, nor is burning waste to recover energy. 5. Security Issues Rev. 0 The District has developed a Security Plan as it relates to the security risks associated with the shipments of hazardous materials. The plan shall include an assessment as it relates to transportation and storage. At a minimum, the plan shall address: 1. Personal security. 2. Unauthorized access. 3. En-route security. Date: October 24, 2003 g:\wp.dta\agenda\fahr\fahr2003\ 1003\03-82.1.doc Hard Copy Is Uncontrolled 7 of 8 Book Page 34 Hazardous Waste Management Program SAFETY-POL-114 The written plan is contained in SAFETY-SP-114.2 Hazardous Materials Security Plan. 6. Program Administration and Evaluation The Hazardous Waste Management Program shall be managed and administered by the Safety and Health Division. This Hazardous Waste Management Program shall be evaluated annually to ensure that it is effective in providing adequate protection so that District generated hazardous waste does not pose a threat to human health and the environment and utilizes best management practices for the management if hazardous waste. 7. References 22 California Code of Regulations Division 4.5 40 Code of Federal Regulations Parts 260-272 49 Code of Federal Regulations Part 172 (section 800-802) SAFETY-SP-114 Hazardous Waste Management 8. Attachments None Rev.O Date: October 24, 2003 g:\wp.dta\agenda\fahr\fahr2003\ 1003\03-82.1.doc Book Page 35 Hard Copy Is Uncontrolled 8 of 8 Meeting Date To Bel. of Dir. FAHR COMMITTEE 10/08/03 10/22/03 AGENDA REPORT Item Number Item Number FAHR03-83 Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources Originator: Lisa Arosteguy, Human Resources Supervisor SUBJECT: CHANGES AND ADDITIONS TO HUMAN RESOURCES POLICIES AND PROCEDURES AS AUTHORIZED BY RESOLUTION 98-33. GENERAL MANAGER'S RECOMMENDATION Adopt Resolution No. OCSD 03-_, amending Resolution No. OCSD 98-33, amending Human Resources Policies and 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. PRIOR COMMITTEE/BOARD ACTIONS NIA 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. ~ Not applicable (information item) ADDITIONAL ~NFORMATION , ... Policy Number and Subject From To Reason for Change B150.00 Recruitment Current Language. Revised Language. Clarification of policy. D110.00 Catastrophic Illness Current Language. Revised Language. Revisions to process. G:lwp.dta\agenda\FAHR\FAHR2003\1003\03-83.HR P&P.doc Revised; 10/1/2003 Page 1 Book Page 36 ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS 1. Policy 8150.00, Recruitment 2. Policy D110.00, Catastrophic Illness 3. Proposed Resolution G:\wp.dtalagenda\FAHRIFAHR2003\ 1003\03-83.HR P&P.doc Revised: 10/1/2003 Page2 Book Page 37 @ Orange County Policy Number: 8150.00 Sanitation District Effective Date: October 22J 2003; Subject: Recruitment Supersedes: f:ebFUaFy 26, 2003 Approved by: 1.0 PURPOSE 1.1 The purpose of this policy is to establish uniform guidelines and procedures for the District's recruitment activities. 2.0 ORGANIZATIONAL UNITS AFFECTED 2.1 This policy applies to all District departments, divisions, sections and employees. 3.0 DEFINITIONS 3.1 Recruitment is the process of attracting qualified individuals to apply for jobs that are open within the organization, whether internal or external. 3.2 Internal recruitment means considering only present employees as applicants for job openings within the organization. 3.3 Open recruitment means attracting applicants from outside the organization, as well as internally to apply for job openings within the organization. 3.4 Probationary Period -Initial as defined in applicable MOU provisions, includes at least the first 6 months or 26 weeks of employment with the District beginning with the date of hire. This period is regarded as an extension of the hiring process, and provides an opportunity for both the employee and the District management to assess, over a substantial period of time, whether or not the hiring decision was appropriate. 3.5 Probationary Period -Promotional as defined in applicable MOU provisions, includes at least the first 6 months or 120 days of employment with the District, beginning with the effective date of promotion. This period is regarded as an extension of the selection process, and provides an opportunity for both the employee and tAe District management to assess, over a substantial period of time, whether or not the decision was appropriate. "At-will" employees do not serve a promotional probationary period. 3.6 Relative is any person related by one of the following familial relationships to any employee at the agency: spouse, mother, father, brother, sister, child, grandmother, grandfather, grandchild, cousin, aunt, uncle, mother-in-law, father- in-law, brother-in-law or sister-in-law. Page 1 of9 Book Page 38 4.0 POLICY 4.1 It is the District's policy to provide nondiscriminatory, laWful and consistent guidelines and procedures to its ageney recruitment processes, whether internal or open. 5.0 PROCEDURE 5.1 PERSONNEL REQUISITIONS 5.1.1 A personnel requisition is the first step for the hiring manager/supervisor to communicate personnel ~afflng needs te Human Resource~ however IFthe recr0i1ment .requires testing {hands-on, written, essay, etc:) as part of the intervJew process, 1hat~ting methods must be revfewed fer valkljty and reliabiJity by Human Resour-ees prior to the initiation of a gerl30nnet requisition. 5.1.2 The hiring supervisor completes the personnel requisition and receives the appropriate signatures required before sending it to Human Resources. 5.1.3 Human Resources reviews the requisition to make sure the qualifications are appropriate for the position. If changes are necessary, Human Resources will work with the appropriate manager/supervisor. 5.2 EMPLOYMENT OPPORTUNITY BULLETINS/POSTINGS 5.2.1 The recruiter prepares the employment opportunity bulletin, also known as a posting. Each posting will include the following information: • Wage range • Department • Brief job description • Required qualifications • Desired qualifications • Posting/closing dates • Procedure for applying • Brief benefits overview 5.2.2 The recruiter provides the draft posting to the hiring manager for approval. 5.2.3 Internal and open reoruitment postings shall remain OfBR'for ten wGfk:if:1§ days. lJJ}on approval, all job postings (except Intern p0slt1ons) are adyertlsed as: internal recruitments for ten busfness days unless authorized by heHA Direotel'and extenuating circumstances apply. _Jf there are at least two internal applicants and they meet the minimum <t_ualificatiQns4or the i:;>osition those applicants will be interviewed. If a11 int~mal a,pplicant is not selected or if the.re are no intarnal apglie~nts, the_ posttfon st-Jal! Be advertised as an external recruitmer,t. 5.2.4 Department representatives are provided with postings for communication within their designated departments. Page 2 of9 Book Page 39 5.2.5 Bulletin boards at Plant No. 1 where Employment Opportunity Bulletins will be regularly posted are located in the Control Center, and Warehouse, outside the Human Resources Office and in the Administration Building lunchroom. 5.2.6 Internal Job Announcement Notifications are sent via e-mail to all District employees for internal and external· recruitments. 5.2. 7 Employment Opportunity bulletin boards at Plant No. 2 are located in the Operations Center, Maintenance Office, Maintenance lunchroom and Warehouse. 5.2.8 Employment Opportunity Bulletins may also be found in other convenient areas throughout both plants. 5.3 ADVERTISING 5.3.1 Advertising for positions at the District ensures positions are filled with the best-qualified candidate for the job. 5.3.2 All positions are advertised on the Internet. Technical and hard-to-fill positions are advertised on trade specific websites. 5.3.3 Trade magazines and other forms of advertising may be used for hard- to-fill or specialized positions. 5.4 APPLICANT SCREENING 5.4.1 Resumes or applications that are received are reviewed and selected for further consideration only if they meet the minimum job requirements. 5.4.2 The recruiter forwards copies of the resumes or applications of qualified applicants to the hiring supervisor for review. Originals remain in HR in the Recruiting files. 5.4.3 All materials (e.g., applications, resumes, interviewer notes, interview packets, packets, etc.) submitted by applicants/candidates during the interview process are confidential and are considered District property and must be returned to Human Resources upon completion of the hiring process. 5.5 INTERVIEW PROCESS 5.5.1 The interview panel members are selected along with the interview date(s). Applicants are scheduled, interview questions are prepar~d, and the interview panel conducts the actual interview. 5.5.2 The recruiter and the hiring supervisor work together to select the interview panel. However, the recruiter makes the final decision to ensure consistency. The ideal interview panel will include the hiring supervisor, one employee within the department, two individuals outside the department, and the recruiter, or another member of the Human Resources Department. Normally, subordinates within the hiring department are not included in the interview panel. Page 3 of9 BookPage40 5.5.3 The recruiter and the hiring manager work together to establish a set of questions for the candidates. 5.5.4 The recruiter prepares interview packets and distributes them to the interview panel. Packets include: • An overview of the interview process • A copy of the interview schedule • A copy of the employment bulletin opportunity/posting • Copies of candidate applications • Interview questions and evaluation forms for each candidate 5.5.5 The interview panel will meet at least one half hour before the interview. The panel will finalize the interview questions that are recommended by the hiring supervisor and the recruiter. The panel may add or delete questions. The panel will gain an understanding from the hiring supervisor about the criteria with which to select the ideal candidate, and adopt the appropriate criteria. 5.5.6 The recruiter facilitates the interview process. When interviews are completed, the interview panel members evaluate each candidate interviewed. The top three candidates are identified and ranked in order of preference based on the criteria established prior to the interview. The recruiter collects the documentation at the end of the interview process. 5.5.7 The final candidate is selected from the top three candidates when a majority decision is reached. If a majority decision cannot be reached, the General Manager or designee will make the final determination based on the input of the hiring supervisor, the panel, and the HR representative. If a majority decision is reached, and the hiring supervisor does not agree with the final decision, he or she may appeal for a final decision from the General Manager or designee. 5.6 RECRUITMENT APPEALS PROCESS 5.6.1 Employees should bring recruitment process and.decision-making issues to the att~ntion of the Human Resources Manager as s<:>en as possible. The ma.nager will review the issue and provide a wratten response within five business days from the issue notification date. 5.6.2 llfthe issue is not resolved to the employee's satisfaction·, the employee may me a written, statement concerning the problem te the Director of Human Re•sources Within ten business days of receipt of the manager's decision. Upon reqdestby-either par\y, a meeting may be held to, discuss the issue and establish remedies. 5.6.3 The employee will be provided a written response from the .Director of Human Resources within ten business days after their statement is received. The aecision of-Human:Resources is final (see policy F50,00, Problem Solviflg Procedyre and R60 00, Grievance Procedur~}-' 5.6.4 Time limits may be extended for cause upon mutual consent of the parties. 5.7 EMPLOYMENT OFFERS Page 4 of9 Book Page 41 5.7.1 The recruiter and hiring supervisor determine an appropria,te starting salary for all candidates, except those designated as 11at-will" employees, based on a Salary Offer Analysis, This analysis will include the applicant's: • Qualifications • Years of experience • Educational background • Salary history • Parity within the department 5.7.~ 1he HR Compensation Analyst reviews the recommended salary, and approves or makes additional recommendations. All salary offers that are either at or beyond the midpoint of the range will require the approval of the Human Resources Director (or designee). Under no circumstances should panel members (excluding the HR representative) or any other District employee discuss salary offers with candidates or make promises of any kind. HR staff are the only employees auihorfzed to en9age in salary discussions wrth job candidates. 5.7.3 The recruiter prepares COfnRJe.tes a status change form for the candidate and receives appropriate signatures tnTt ates tt:ie background investigatien. Backgr0und investigation results are provideGt to tlie cam.lidate by the District's t;,ackground screening firm. 5.7.4 When the status change form is approved and the bac~ground investigatfon is clear, the recruiter makes a verbal employment offer to the candidate, whj~tris contingent upon results of a pre-employment physical and drug screening and a backgrounq_ in>1estigation. Upol"( acceptance ef the empfo>yr:nent 0ffer, the recruiter sends rie€Jret lette.,r:s to J.msucc'e'ssful candidates. lntemal candfdates ate contacted personal! prier to receiving r~greJ letters. 5.7.5 The recruiter schedules the pre-employment physical for the candidate, works with the supervisor to establish a potential start date initiates the eackground checl< and prepares a formal offer letter for the candidate. +he recruiter-then prepaFes regret letters for unsuocesstut~ candidates or contacts unsuccessful internal candidates. 5.7.6 When the Safety Manager (or designee) has cleared the pre- employment physical results aAd-tAe recruiter has cleared the background check results, the recruiter will contact the applicant to confirm the employment offer. 5.7.7 The recruiter coordinates the candidate's start date. 6.0 EXCEPTIONS 6.1 EMPLOYMENT OF FORMER EMPLOYEES 6.1.1 Employment of former employees for full-time equivalent or part-time positions shall be subject to and conducted in accordance with this policy. Page 5 of9 BookPage42 6.1 .2 Employment of a former employee is subject to the approval of the General Manager and the Director of Human Resources. 6.1.3 In all cases, approval of the General Manager and the Director of Human Resources shall be received prior to an offer of employment to a former employee. 6.1.4 The General Manager may, with the written approval of the Board Chair, employ on a part-time or as-needed basis, a former employee retired from the District when the individual possesses knowledge and expertise of unique and particular benefit to the District and when the services are required. The length of service perf:ormed in any one year shall be limited in accordance with the provisions prescribed by the Orange County Employees' Retirement System (currently 120-day maximum). 6.1.5 Part-time or as-needed service shall be compensated at the same current hourly rate of the retired employee's position classification, or if no such classification exists, at a rate not to exceed that paid for the most comparable classification. The retired employee shall not be entitled to receive any benefits otherwise payable to District employees. In the event any employment under this provision involves work assignments outside of Orange County, the current expense rei mbursement policy established for regular employees will apply. 6.1.6 1f any former employee commences doing business wherein the employee, his/her spouse, or members of his/her immediate family are sole proprietors, or majority or controlling shareholders or owners of a corporation, partnership or other business entity, such business shall not be retained as an independent contractor or consultant to provide service directly to the District for a period of one year after leaving District's employment. Thereafter, said business entity shall be allowed to contract with the District upon compliance with all resolutions and regulations of the District then in effect, relating to the procurement of services. 6.1.7 If any former employee becomes employed by any firm or busi ness entity in which the former employee, his/her spouse or members of his/her immediate family own less than the majority or controlling interest in said entity, said entity shall not be prohibited from contracting with the District. However, the former employee shall not perform work on District projects for a period of one year after leaving District employment; nor shall such former employee contact District officers or employees for the purpose of attempting to influence any District decision, including but not limited to, the award of contract, issuance of permits, or compromise of administrative civil penalties, for a like period of one year. Said services shall be obtained only in accordance with all rules and procedures of the District relating to procurement. 6.1.8 Any District employee who receil1es an offer of employment or a request to discuss potential employment from any person or business entity performing services for the District shall report such contact to his or her immediate supervisor, who shall decide whether any change in assignment is necessary or appropriate while the offer or discussions are pending. Page 6 of9 Book Page 43 6.1.9 The prohibitions of this policy may be waived by the Finance, Administration and Human Resources Committee of the Boards of Directors if, on a case-by-case basis, it is determined to be in the best interests of the District to do so. 6.2 EMPLOYMENT OF RELATIVES 6.2.1 No employee, prospective employee or applicant shall be denied employment or benefits of employment solely on the basis of his or her familial relationship with an employee of the agency. 6.2.2 The District will make reasonable efforts to assign job duties to eliminate any potential for an adverse impact on supervision, safety, security or morale, or potential conflicts of interest. 6.3 LATERAL TRANSFERS 6.3.1 Employees may request a lateral transfer to a vacant position in the same classification in another department providing they have demonstrated at least six months of continuous competent or above performance in their current position, and the transfer is of benefit to the District. 6.3.2 Employees who wish to be considered for a lateral transfer should notify Human Resources in writing of their intent. In the event a transfer is approved and accepted by the employee, the department from which the employee is transferring may determine the effective date based upon operational requirements and a reasonable period of time to acquire a suitable replacement. 6.3.3 Lateral transfers do not normally involve increased levels of duties and responsibilities, or otherwise qualify as promotions, and therefore do not involve salary adjustments. 6.3.4 In the event an adjustment appears warranted based on extenuating circumstances, the adjustment must have written approval from the department head prior to being extended to the employee. 7.0 PROVISIONS AND CONDITIONS 7.1 Tti;e interview process for lntem positions shall be an abbreviated version 0f the process olltlined in section 5.5 ahd wlll be administered ~y the aQpr@priate division maoager/supeivisar and a Human RespUrGes r~presentative. 7.2 The District's Board of Directors must approve unbudgeted positions for n~'{V hires or promotions before any internal or open recruitment effort is initiated. 7.3 Hiring an individual into a budgeted position requires the approval of the Department Head and General Manager. 7.4 Promoting an individual into a budgeted position requires the approval of the Division Manager, Department Head or General Manager. 7.5 The District retains the right to refuse to place a relative under the direct supervision of a District employee where such has a potential for creating an adverse impact on supervision, safety, security or morale. Page 7 of9 BookPage44 7.6 The District retains the right to refuse to place relatives in the same department, divlsion, or facility where such has a potential for creating an adverse impact on supervision, safety, security or morale, or involves potential conflicts of interest. 7.7 INITIAL PROBATIONARY PERIOD 7.7.1 All persons hired by the District, except those designated as "at-will" employees, are considered to be probationary employees for a period of at least the first 26 weeks or 6 months of employment, depending upon the applicable MOU provisions, beginning with their date of hire. This probationary period is regarded as an extension of the hiring process, and provides an opportunity for both the employee and District's management to assess, over a substantial period of time, whether or not the hiring decision was appropriate and resulted in a relationship that adequately meets the needs of both the individual and the District. 7.7.2 The probationary period may be extended by mutual agreement between the District and the employee, prior to the expiration of the probationary period. An employee's probationary period may be extended when there Is a need to further assess the individual's abilities to satisfactorily perform the duties required for their job classlficauon. Probationary employees may be released by the District at any time during the probationary period (including any extension) without cause or reason. 7.7.3 A probationary employee's work performance is closely monitored during this period to ensure that the employee understands the duties, responsibilities and management expectations of the position, and to allow an opportunity for the supervisor or manager to provide proper directi'on and guidance. Employees who do not demonstrate the potential for meeting pertormance expectations for their position within a reasonable period of time may be released prior to the completion of the Probationary Period. Probationary employees shall serve at the will of the District during this period. In the event of release of a probationary employee, the employee shall not be entitled to receive any severance pay. 7.8 PROMOTIONAL PROBATIONARY PERIOD 7.8.1 All promoted employees, except those designated as "at-will" employees, shall serve a promotional probationary period lasting at least 120 days or 6-months, depending upon the applicable MOU provisions, beginning with the effective date of promotion. This period is regarded as an extension of the selection process, and provides an opportunity for both the employee and the District management to assess, over a substantial period of time, whether or not the decision was appropriate. 7.9 REFERENCE CHECKS 7.9.1 Employment with the District is contingent upon a pre-employment screening process which includes a physical examination, drug/alcohol test and background investigation. Candidates must also be able to provide documentation authorizing their legal right to work in the United States as per the Immigration Reform and Control Act of 1986. Page 8 of9 BookPage45 7.9.2 The District may verify information contained in the job application of a prospective employee with the prospective employee's authorization. 7.9.3 Inquiries to District employees regarding reference or employment verification checks of former or present employees, shall be discussed with or referred to Human Resources prior to any response. 8.0 RELATED DOCUMENTS 8.1 501, OCEA and SPMT memorandums of understanding (MOUs) 8.2 Human Resources Intern Pregram guidelines 8.3 Polic F50.00, Problem Solving Procedure 8.4 l?olicy F60.00, Griev,ahce Prneedl!.lre 8.5 Policy C180.00, At-Will Policy Page9 of9 BookPage46 69 Orange County Policy Number: D110.00 Sanitation District Effective Date: April 25, 2001 Pctober 22, 2003 Subject: Catastrophic Illness Supersedes: D40.00 Leave Bank Donation Program Approved by: 1.0 PURPOSE 1 .1 The purpose of this policy is to establish uniform guidelines and procedures for use in the administration of the District's Catastrophic Illness Leave ~ Donation Program. 2.0 ORGANIZATIONAL UNITS AFFECTED 2.1 All District employees. 3.0 DEFINITIONS 3.1 Catastrophic Illness or Injury • Debilitating illness or injury which is expected to incapacitate the employee for an extended period of time and which creates a financial hardship due to the exhaustion of all accrued leave. • A debilitating illness or injury of a child, parent or spouse that results in the employee being required to take time away from work for an extended period to care for the family member, therefore creating a hardship due to the exhaustion of the employee's accrued leave. 4.0 POLICY 4.1 Employees may on occasion face catastrophic medical conditions involving themselves or their immediate family that results In the exhaustion of all accrued sick, vacation, personal or other paid leave. Such employees may request, or be nominated for allocations of leave time from-according to the District's Catastrophic Illness Leave ~ pomition Program. 4.2 Employees may, in accordance with the provisions of the District's policy regarding the Catastrophic Illness Leave BaRk Donation Program, elect to donate accrued and unused personal leave, vacation leave or compensatory time off to the Leai.<e Bank anJrniividllal employee Leave bank hours may be used by any employee qualifying qualified and approved to receive leave bank allocations of leave tim~. due to the exhaustion of his or hei:--0wn paid leave as a direct result-ef. a---Ga~isal so nditior-i-. 4.3 With the approval of the Director of Human Resources, leave bank contributions for the benefit of a specific indivicwal will be accepted for use by that individ1::1al-as long as the qualifying need remains. Howe-ver, any unused balances will r:emain in the leave bank for use by other indiividuals. Page 1 of 3 Book Page 47 4.4 Employees may donate Leave time eli@ible to be donates by ona·ernployee to another include vacation, compensatory or personal leave time to the leave bank .. 4.5 Solicitations of leave donations for the bank are to bo made on an annual basis Gf-OR an as needed basis to replenish the bank to ensure adeq~ate Catastrophic Leave Time is available. 5.0 PROCEDURE 5.1 Requests or nominations for allocation of dc.mated leave baAk time are subject to the approval of the Director of Human Resources or designee, pursuant to this policy. 5.2 Requests for donated le~we time allocations from the lea1,<e bank are to be submitted to the Director of Human Resources Super.vis9r fclF appro1•1al using the form "Application for Use of 8aRk Calastraphic Illness Leave Hot:rrs''. This form is located on the HR/.eQ. intranet site. 5.3 Communicating the request to District employees for leave time donations shall be made in the following manner: a. The employee or nominator will submif a draft e-mail to Human Resources for review informing employees of the request for leave time donations b. Human Resources will send the approved e-mail announcement to the employee's immediate work division, and may also send it to the department. It can later be sent to other divisions or departments if requested. 5.4 To make a leave time baR-k oonation, employees should complete a "Catastrophic Illness Leave ~ Donation Contribut¼GR Form" and submit it the form to the Director of Human Resources. This form is located on the HAI@ intranet site. 5.4 The vacation, compensatory or personal leave time donated by an employee shall be converted to a dollar value basecl on the hourly rc1te of the donor. GnGe leave time is donated it remains in the bank oven if not used by a speoifiG individuaJ. 5.5 At the time of allocation, those dollars shall then be converted into sick leave or personal leave at the hourly rate of the recipient of the donated leave time. 6.0 EXCEPTIONS 6.1 Employees who have not exhausted their paid leave -vacation, sick, personal and compensatory time off -at the time of request or nomination will not be considered tor allocation of leave eaRk time until their paid leave time is exhausted. 6.2 Sick leave may not be donated to the leave bank by one ernployee to another. 7.0 PROVISIONS AND CONDITIONS 7.1 To be eligible to receive allocations of leave time from as provided b~ the Catastrophic Illness Leave 8aAkUonatioh Pro.§;lram, employees must have exhausted all of their paid leave, including vacation, sick, personal and compensatory time off. Page 2 of3 Book Page 48 7.2 The maximum allocation to be made from-tRe of donated leave BaRk-that an ~mplqyee may receive is 480 hours per individual per yeai: 12 month peri0d. 7.3 Employees will be requested to provide medical documentation of a catastrophic health condition involving their child, parent or spouse, or involving the employee's own catastrophic health condition. 7.4 Donations must be made in whole hour increments, and are irrevocable. 7 .4.1 Any sucn hours that remain at the conclusion of the leave geriod shall be ireturned to the donors on a pro-rated basis pe~ the heurly salary of1he original!~ donated hours. 8.0 RELATED DOCUMENTS 8.1 Application for Use of &AA _Catastrophic lllnes~ Leave Hours form. 8.2 Catastrophic Illness Leave Bank Contriblltion Donation form Page 3 of3 BookPage49 RESOLUTION NO. OCSD 03-XX AMENDING RESOLUTION NO. OCSD 98-33 A RESOLUTION OF THE BOARD OF DIRECTORS OF ORANGE COUNTY SANITATION DISTRICT AMENDING THE HUMAN RESOURCES POLICIES AND PROCEDURES *** .... ***************"'*'******** The Board of Directors of Orange County Sanitation District, DOES HEREBY RESOLVE, DETERMINE AND ORDER: Section 1 : That Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. 8150.00, Recruitment, set forth in Attachment No. 1, attached hereto and incorporated herein by reference. Section 2: That Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. 0110.00, Catastrophic Illness, set forth in Attachment No. 2, attached hereto and incorporated herein by reference. Section 3: That all other terms and conditions of Resolution No. OCSD 98-33, as previously recommended, shall remain in full force and effect. Section 4: That all future amendments to Resolution No. OCSD 98-33 be made by Resolution. PASSED AND ADOPTED at a regular meeting held October 22, 2003. Chair ATTEST: Board Secretary G:\wp.dta\agenda\FAHR\FAHR2003\ 1003\03-83.3.doc Book Page 50 FAHR COMMITTEE Meeting Date 10/8/03 AGENDA REPORT Item Number FAHR03-84 Orange County Sanitation District FROM: Carol Beekman, Communications Services Manager SUBJECT: COMMUNICATIONS SERVICES STRATEGIC PLAN FY 2003-04 GENERAL MANAGER'S RECOMMENDATION Receive and File Communications Services Strategic Plan FY 2003-04. SUMMARY The last Communications Services Plan was prepared in 2001 as a five-year plan. Recently, staff took a discerning look at the Plan in the light of our experience over the last year and in the context of relevant communication principles. We concluded that a new plan was needed and we went to work to design it. This Plan was created with minimal consultant cost because we depended on the skills, experience, and abilities of Communications staff. This Communications Plan reflects a format patterned after classic public relations methods taught by Public Relations Society of America (PRSA.) After months of gathering data, evaluating current OCSD issues, monitoring each OCSD department's need, and researching proposed projects, the following Communications Services Strategic Plan was drafted. The most significant attributes of the Plan are 11 objectives designed to measure progress toward achievement of the communications goals. The items listed within the Plan are budgeted items for Fiscal Year 2003-04. We propose to update the Plan each fiscal year to reflect topical and budget changes. A section on evaluation is also included in the Plan to measure the effectiveness of the activities at reaching objectives. An evaluation process is also described in the Plan to review quarterly with the Board and the General Manager the progress in meeting the objectives. Communications planning is a vital component of any organization's strategic direction. An integrated communications plan is key to communicating effectively with the variety of audiences we serve. This Plan defines specific goals, objectives, strategies and tactics to deliver communications services to both internal and external audiences. While the Communications Services Strategic Plan lists priorities and objectives, Communications Services staff will be flexible in its ability to quickly respond to new topics and issues as they develop. The Plan is designed to provide a total communications campaign that will promote clear and transparent communication with all designated audiences. G:\wp.dta\agenda\FAHR\FAHR2003\ 1003\03-84.Communications Plan.doc 130/Com/cb Page 1 of 2 Book Page 51 Revised 10/1/2003 To Bd. of Dir. 10/22/03 Item Number PRIOR COMMITTEE/BOARD ACTIONS Communications presented the 2001-2006 Internal and External Communications Plan to FAHR in April, 2001. On March 13, 2002, FAHR received a Communications Plan Update. 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. x Not applicable (information item) ADDITIONAL INFORMATION N/A ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS Communications Services Strategic Plan FY 2003-04 G:\wp.dta\agenda\FAHR\FAH R2003\ 1003\03-84. Communications Plan.doc 130/Com/cb Page 2 of 2 BookPage52 Revised 10/1/2003 FAHR COMMITTEE Meeting Date To Bel. of Dir. 10/08/03 10/22/03 AGENDA REPORT Item Number Item Number FAHR03-85 Orange County Sanitation District FROM: Gary G. Streed SUBJECT: SAWPA AGREEMENT FOR DESAL TER BRINE CAPACITY RIGHTS GENERAL MANAGER'S RECOMMENDATION Approve the Agreement to Establish the Purchase Price for, and the Purchase of, 2.0 MGD Wastewater Treatment and Disposal Capacity Right for Desalter Brine with the Santa Ana Watershed Project Authority (SAWPA), for a total amount of $5,252,015.26. SUMMARY • Since 1972 the District has provided treatment and disposal services for some "non- reclaimable" wastewater from SAWPA. • SAWPA owns 30 mgd capacity in the Santa Ana River Interceptor (SARI) and 11 mgd capacity in the OCSD treatment and disposal system. • The 1972 Agreement was modified in 1996 to allow capacity purchases in 1 mgd increments and to establish a formula to compute the price based upon the 1989 Master Plan and the average strength of all wastewater received from SAWPA. • In 1999 a separate agreement was approved to allow the purchase of capacity especially for low-strength discharge from groundwater desalter projects. • The proposed agreement would allow SAWPA to purchase another 2 mgd of treatment and disposal capacity only for low-strength discharge. • The low-strength agreement is appropriate as SAWPA is endeavoring to remove most higher strength dischargers from the system and because it encourages SAWPA to improve the groundwater supply in their basin. • The rates per million gallons, 1,000 pounds of BOD and TSS are the same as those charged our Class 1 Permit Users except the charges for the collection system have been deducted, as SAWPA already owns sufficient capacity in the SARI. PRIOR COMMITTEE/BOARD ACTIONS 7/24/96: 12/15/99: 10/10/01: Board approved revised Wastewater Treatment and Disposal Agreement. Board approved 2 mgd desalter brine capacity sale to SAWPA. FAHR approved second 2 mgd desalter brine capacity sale. PROJECT/CONTRACT COST SUMMARY The proposed agreement would result in capacity right sales of $5,252,015.26 based upon the low BOD and TSS in the desalter brine discharge. Use of the higher strength average concentration of the total SAWPA discharge could raise the price to SAWPA to $9,750,000. G:\wp.dta\agenda\FAHRIFAHR2003\1003\03-85.SAWPA Agmt re Desalter Brine.doc Revised: 06/04/03 Book Page 53 Page 1 BUDGET IMPACT [8] This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. D Not applicable (information item) ADDITIONAL INFORMATION None. ALTERNATIVES • Do not approve this agreement and charge SAWPA in accordance with the ,existing 1996 Agreement. This Agreement needs t0 be renegotiated as the 1999 Strategic Plan and the resultant Capital Facilities Capacity Charge ch~nged the assumptions underlying the capacity purchase assumptions. The assumptions may change again in the next few months as we reevaluate our CFCC program al"ld rates. • Modify the rates in the proposed agreement. This is possible, but the proposed rates are appropriate because they are the same as those charged other high flow or high strength dischargers. The rates have been reduced because SAWPA already owns 30 mgd capacity in the collection system so the collection system portion of the CFCC has been removed. This purchase will only increase treatment and disposal Scapacity to 13 mgd. The concentrations of BOD and TSS have been verified with the discharge from other desalter facilities. CEQA FINDINGS NIA ATTACHMENTS 1. Agreement to Establish the Purchase Price tor and the Purchase of a 2.0 MGD Wastewater Treatment and Disposal Capacity Right for Desalter Brine G:\wp.dta\agenda\FAHR\FAHR2003\1003\0~85.SAWPA Agmt re Desalter Brine.doc Revised: 06/04/03 Book Page 54 Page 2 AGREEMENT TO ESTABLISH THE PURCHASE PRICE FOR, AND THE PURCHASE OF, A 2.0 MGD WASTEWATER TREATMENT AND DISPOSAL CAPACITY RIGHT FOR DESAL TER BRINE THIS AGREEMENT, is made and entered into, to be effective this 24th day of September 2003, by and between: AND ORANGE COUNTY SANITATION DISTRICT, a public agency, hereinafter referred to as "OCSD"; SANTA ANA WATERSHED PROJECT AUTHORITY, a joint powers public agency, hereinafter referred to as "SAWPA". OCSD and SAWPA are sometimes collectively referred to herein as the "Parties". RECITALS A. Pursuant to that certain Wastewater Treatment and Disposal Agreement dated July 24, 1996, between the Parties (the "Agreement"), SAWPA possesses an ultimate Treatment and Disposal Right of 30 MGD (as those terms are defined in the Agreement), pursuant to, and in accordance with, the terms and conditions specified therein; and B. Pursuant to the Agreement, SAWPA has exercised its purchase rights and acquired and presently owns 11 MGD of capacity defined as a Treatment and Disposal Right; and C. SAWPA is presently implementing a new groundwater desalting project and expanding another through the Eastern Municipal Water District. These desalting 1 Book Page 55 projects will produce, as a by-product of operation, up to 2 MGD of brine which is proposed to be treated and disposed of under the terms of this Agreement; and D. OCSD has expressed a desire to promote, and participate in, groundwater reclamation in SAWPA's Santa Ana River Interceptor ("SARI") Service Area. In furtherance of that desire, OCSD has previously established a modified Treatment and Disposal Right Charge for wastewater treatment and disposal capacity for desalter brine, as an incentive to the implementation of desalting projects; and E. SAWPA has expressed a desire to purchase an increment of wastewater Treatment and Disposal Right capacity of 2.0 MGD for desalting brine, 1.2 MGD for a new project known as Menifee Desalter and .8 MGD additional capacity for the future desalters; and F. OCSD has adopted a Capital Facilities Capacity Charge ("CFCC") payable by all dischargers into OCSD's system, which charge is subject to modification from time to time by action of the Board of Directors. NOW, THEREFORE, the Parties hereto hereby agree as follows: Section 1: Purchase Price for Brine Capacity. OCSD and SAW PA hereby acknowledge and agree that SAWPA may, by this Agreement, purchase Treatment and Disposal Right capacity for the disposal of brine generated by groundwater reclamation projects within SAWPA's SARI Service Area, at a price established pursuant to OCSD's current Capital Facilities Capacity Charge, by the following formula: 2 Book Page 56 Assumptioos Flow = 1,000,000 BOD= 20 mg/L SS = 18 mg/L Unit of Measure Per gallons/day Per pound/day Per pound/day One-Time Rate $ 2.39/gpd $680.35/#/day $816.94/#/day For 1 MGD Brine Capacity $2,389,886.55 $ 113,481.97 $ 122,639.11 $2,626,007.63 Application of the foregoing formula generates the purchase price of $2,626,007.63 per each million gallons of capacity as of the date of this agreement. The purchase price for any future purchases of Treatment and Disposal Right capacity shall be determined in accordance with OCSD's then-existing Capital Facilities Capacity Charge and then established loading assumptions as of the date of the future purchase. Section 2: Purchase and Sale of Increment of Capacity. Subject to all of the terms and conditions of the Wastewater Treatment and Disposal Agreement dated July 24, 1996, except as otherwise expressly provided for in Section 1 herein, OCSD hereby sells, and SAWPA hereby purchases, 2.0 MGD Treatment and Disposal Right, to be utilized solely for the disposal of brine generated by the Menifee Desalter, future desalters, and other groundwater reclamation projects within SAWPA's SARI Service Area. Section 3: Purchase Price. The purchase price of the Treatment and Disposal Right conveyed hereunder shall be $5,252,015.26 based upon the formula set forth in Section 1 above. Section 4: Applicability of 1996 Agreement. OCSD and SAWPA acknowledge and agree that solely because of the nature of the brine discharge, its costs of treatment, and the indirect benefits to OCSD, and the residents of Orange County, a 3 Book Page 57 reduced purchase price is appropriate for the Treatment and Disposal Rights which are the subject of this purchase agreement. It is the intent of the parties that all other terms and conditions of the Agreement shall be applicable to the parties and to the brine discharge from SAWPA to the OCSD system. IN WITNESS WHEREOF, the parties have executed this agreement as of the day and year first above written. APPROVED AS TO FORM: THOMAS L. WOODRUFF DISTRICT COUNSEL ORANGE COUNTY SANITATION DISTRICT By _______________ _ Chair, Board of Directors By _______________ _ Secretary of the Board of Directors By ______________ _ Thomas L. Woodruff SANTA ANA WATERSHED PROJECT AUTHORITY By _______________ _ Chairman of the Commission FIN/210/lc G:\wp.dta\fin\210\CRANE\FAHR\FAHR2003\SEPT\SAWPA AGREEMENT· 2003 desalter.doc 08/29/2003 4 BookPage58 FAHR COMMITTEE Meeting Date To Bel. of Dir. 10/08/03 AGENDA REPORT Item Number Item Number FAHR03-86 Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: CONNECTION FEE CALCULATION METHODS AND POLICIES GENERAL MANAGER'S RECOMMENDATION This is an information only item to provide additional background information. SUMMARY Capital facilities capacity charges (CFCC), or connection fees for short, are one-time fees collected in order to cover the costs of providing sewerage facilities to serve the property. Today, connection fees are collected for the District by member cities and sanitary districts when building permits are issued. As a part of the Sewer User Fee discussion in May, staff proposed increases in the CFCC for 2003-04. The staff proposal was based upon the methodology adopted subsequent to the Rate Advisory Committee work and reflected the recently completed Validated Capital Improvement Program. The Directors deferred any action on increased rates as they wanted to concentrate their focus on the Sewer User Fees. This report is the second of at least three that will set the stage for a complete discussion of a CFCC rate change. Last month's report provided the background that is required to understand the existing CFCC program. This report addresses some of the concerns that the Directors raised last month and concentrates on some of the methods for calculating a CFCC and their impacts. PROJECT/CONTRACT COST SUMMARY Capital Facilities Capacity Charges of $10.2 million were collected in 2002-03; approximately 6% of the District's revenue. Future amounts depend on the rates and the rate of new development. BUDGET IMPACT 1Z! This item has been budgeted. D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. D Not applicable (information item) G:lwp.dta\agenda\FAHRIFAHR200311003\03-86.Connection Fees.doc Revised: 8/20/98 Book Page 59 Page 1 ADDITIONAL INFORMATION 1 . Base CFCCs are determined by type of development and are calculated per 1,000 square feet of building for non-residential development and per unit for residential development. 2. Three categories of Commercial connection fees have been developed: low demand, average demand and high demand. 3. Significant Industrial Users {Class I Permit Users) are charged demand-based connection fees as a part of their ongoing annual use charges, in addition to the one-time, up-front charge. These fees will include an interest component. 4. Residential fees are tiered based upon number of bedrooms for single-family residential (SFR) and multi-family residential (MFR) development, as number of bedrooms is the best available indicator of number of residents. 5. Connection fees are collected by local sewering agencies at the time the building permit is issued, and they retain 5% of the fee. 6. Credit for demolished structures is granted as if fees for those structures were paid under the current Ordinance. 7. Connection fees are charged for local agency facilities such as schools and libraries, and for state and federal facilities. ALTERNATIVES See enclosed Staff Report. CEQA FINDINGS NIA ATTACHMENTS 1 . Staff Report 2. Important Parameters Affecting CFCCs, Revised 3. Current Capital Facilities Capacity Charges GGS G :\wp.dtalagenda\FAH R\F AHR2003\ 1003\03-86.Connection Fees.doc Revised: 8/20/98 Book Page 60 Page2 October 8, 2003 INTERIM STAFF REPORT Capital Facilities Capacity Charge (CFCC) BACKGROUND Capital Facilities Capacity Charges are typically one-time fees paid by developers when building permits are issued. The fees are collected for the District by the member agency responsible for local sewers. For 2002-03 the total CFCC's collected amounted to just over $10 million; approximately 6% of the District's revenues. The current CFCC rates, structure and philosophy were adopted subsequent to the 1999 Strategic Plan and the Rate Advisory Committee process. When the rates were recalculated to incorporate the changes from the Interim Strategic Plan Update and the Validated Capital Improvement Program, the FAHR Committee asked that they be revisited. Among the Committee's concerns were whether new development would be expected to pay for additional capacity and whether the number of bedrooms was the appropriate basis for residential fees. Capital Investment Equalization Method Beginning with the "2020 Master Plan" which was adopted in 1989, the District's connection fee or CFCC has been computed using the Capital Investment Equalization Method. While the method and the theory have not changed, the costs that are included and the rates that result have changed. The basic theory is that all of the users in 2020 will have paid the same dollar amount for the facilities that exist in 2020. In 1999, this base fee was modified to reflect the differing demands from differing sizes of residential uses and differing types of non-residential users. The Capital Investment Equalization Method means that new users are required to pay for a share of existing facilities, existing current assets, future capacity, future improved treatment and future rehabilitation, refurbishment and replacement projects. Existing users will also pay a share though user fees, property taxes or previously paid connection fees. OCSD -P.O. Box 8127 -Fountain Valley. CA 92728-8127 -(714) 962-2411 Book Page 61 Capital Facilities Capacity Charge (CFCC) Page 2 of 5 October 8, 2003 The simplified formula for computing the base rate can be shown as: (Existing Facilities -Depr. + Future Facilities+ RRR Projects) CFCC rate= (Existing Users+ Future Users) In order to use this formula, residential and non-residential users must first be converted to "equivalent dwelling units.' The flow, BOD and SS discharges from a three bedroom, single-family residence are used to establish the number of EDUs. This is the formula that was used to calculate the CFCCs that were presented to the FAHR in May of 2003. The result of this calculation was an increase in the base three bedroom SFR rate from $1,820 to $2,800; an increase of 54%. If these rates were to be adopted, then the total fees collected from "new growth" would be sufficient to cover the anticipated additional capacity projects. Variations on the Capital Investment Equalization Method Theme There is some latitude within the broad theory of the capital investment equalization method. One variation is that the only the existing facilities and future additions should be included. This variation would remove the projected cost of future rehabilitation, refurbishment and replacement (RRR) facilities from the CFCC and would have the RRR projects paid from annual user fees. Since all users of the system pay usedees on the basis of flow, BOD and SS, all users (existing and future) would then pay their fair share of these projects. Since the CFCC is expected to be revised approximately every five years when the Strategic Plan is updated, any RRR projects during the five years would move into the existing facilities category, increasing future CFCC rates. If this methodology were implemented, then the total fees collected from "new growth" would be approximately equal to the anticipated additional capacity projects. Another variation could be to exclude the net current assets from the calculation. This exclusion could be in addition to excluding the RRR projects above, or in place of that. The rationale for excluding these costs is that they are not capital facilities; they are cash, investments, inventory, etc. Many of these current assets will be expended on operations and maintenance for the benefit of existing users. Those that are used for capital improvements will be included in existing net capital assets when the CFCCs are reconsidered with the future Strategic Plans. If this methodology were implemented, then the total fees collected from "new growth" would be approximately 75% of the anticipated additional capacity projects. Book Page 62 Capital Facilities Capacity Charge (CFCC) Page 3 of 5 October 8, 2003 Growth Pays for Growth Growth pays for growth is the short-hand way to express the belief that in order for new users to pay their fair share of capital improvement costs, they should pay for all of the new capacity facilities. The thinking behind this is that we would incur almost all of the other capital improvement costs whether or not there are any new users. This could be called the incremental cost method. Existing current assets were contributed by current users and will be used for capital projects that benefit current users or for operations and maintenance expenses on current capital assets. Current capital assets were constructed with funds from current users and would be sufficient for current users' needs into the future. Future RRR projects will be funded by then current users through the user fee. The simplified formula for computing the growth pays for growth rate can be shown as: Future Facilities CFCC rate= Future Users In order to use this method, it is necessary to know the projected cost of future facilities to provide both capacity and secondary treatment to future users as well as the number of future users. While this statement seems both obvious and simple, there are many elements of discretion and uncertainty. For example, the District's share of the Groundwater Replenishment System is currently projected to be $236.2 million. This project can be categorized as improved treatment or as additional capacity or as some combination of the two. The argument for considering this an additional capacity project would be that the GWRS is being funded by the District in lieu of constructing an additional outfall. Recent studies of the existing outfall indicate that it is structurally sound and would not need to be replaced for many years after 2020 and that it is generally sufficient for current flows, with capacity statistically exceeded fewer than twice every three years. On the other hand, some might consider this to be an improved treatment project as much of the existing flow will be treated to higher quality before being reused. The current budget categorizes the GWRS as improved treatment. Reallocating the GWRS as 100% additional capacity would increase the growth pays for growth CFCC by approximately $800. Bedrooms as Basis for Residential CFCCs One of the recommendations of the Rate Advisory Committee (RAC) was that the residential connection fee should be tiered to reflect actual or potential impact on the District's facilities. Prior to the RAC's work, there was only one rate for all types of Book Page 63 Capital Facilities Capacity Charge (CFCC) Page 4 of 5 October 8, 2003 residential connections. Consultants and staff analyzed census data and County Assessor's Office data to establish a correlation between some data set and sewer system demand. The data set with the best correlation was the number of bedrooms although other parameters, including number of bathrooms were considered. Sewer system demand is a function of population; the more people there are in a home, the higher the sewer system demand. While there are certainly exceptions, some of them notable, the number of people in a dwelling unit is more closely aligned to the number of bedrooms than to the number of bathrooms. Of course this is not a perfect match and the closeness to actual varies over time. It would not be uncommon for a family of two to purchase a four bedroom home, for the family to grow to four or more for several years and then to become a family of two again after some time. During this period, the household impact on sewer system demand could go from below average to above average and back to below average. The intent of the CFCC basis is to match the fee with the potential average demand. One of the problems with this basis has become apparent when residential dwelling units are modified. A CFCC is due only when a building permit is requested for an additional bedroom. An additional bathroom does not require a fee. An additional den or office does not require a fee. There have been instances of plans being resubmitted after the fees are quoted and offices replacing bedrooms in the original plans. One could speculate that the clothes closet might be added later, without a building permit. Consultants and staff are evaluating options to using only the number of bedrooms to calculate CFCCs. One option could be to base the CFCC on the size of the building; the larger the dwelling unit, the higher the fee. Another could be the number of bathrooms or fractions of bathrooms. None of these alternatives would be a perfect solution. We all can think of exceptions to their accuracy. Perhaps some combination of factors will be better. There is no recommendation to change at this point. Sources of Future Flows The Interim Strategic Plan Update projected average daily flows of 321 million gallons in 2020. This would be an increase of 80 million gallons per day over the 241 million gallons per day flow at the time of the projection. Twenty-four mgd is projected to come from SAWPA. SAWPA pays for capacity when needed based upon the average strength of their discharge for the prior year and the treatment plant portion of the CFCC; they already own sufficient collection system capacity. Essentially SAWPA pays the CFCC like other users. Twenty-six mgd is projected to come from the area served by the IRWD. The IRWD users do not pay OCSD a CFCC. Instead, IRWD pays a share of the monthly outlay for capital improvement projects based upon the IRWD share of total flow. Each year the Book Page 64 Capital Facilities Capacity Charge (CFCC) Page 5 of 5 October 8, 2003 accumulated payments are adjusted to reflect the current shares. Currently, IRWD uses and has paid for about 3% of the total treatment facilities. By 2020, this percentage is expected to increase to about 10%. During this period IRWD will routinely purchase additional capacity at the actual cost to provide that capacity. The remaining 30 mgd will come from new and existing users in the District's service area. This growth has been allocated to match the population, housing and employment projections from the Center for Demographic Research at California State University at Fullerton. What these growth projections indicate is that 37% of the funds for capital improvements will come from CFCCs and the majority will come from SAWPA and from IRWD. GGS G:\wp.dta\fin\21 0\CRANE\FAHR\FAHR2003\OCl\Staff Report Conn Fees 10-2003.doc Book Page 65 A 1 2 3 4 5 6 7 8 1 2 3 4 5 6 7 8 9 10 11 C 1 2 3 4 5 6 7 Important Parameters Affecting Capital Facilities Capacity Charges Revised September 23, 2003 Planning Parameters 1989 1999 2003 Master Plan Strat Plan Validated CIP Planning horizon 30 yrs 21 yrs 19 yrs CIP budget $1 .48 billion $1.51 billion $2.38 billion Projected Flow 399MGD 352 MGD 321 MGD Flow per household (EDU) 399 gpd 260 gpd 260 gpd Number of flow based EDUs 1,000,000 1,354,000 1,235,000 Flow per 1,000 sq ft for average commercial user 80 gpd 150 gpd 150gpd Commercial 11000 ft : SFR ratio 20% 58% 58% Growth Projections 2020-2000 2000 2005 2020 % Change Population, w/o OCSD 14 2,191,610 2,283,298 2,466,220 12.5% Housing, w/o OCSD 14 723,299 732,729 768,848 6.3% Employment, w/o OCSD 14 1,112,369 1,221,786 1,426,757 28.3% Single Family Residences 427,007 454,000 6.3% Multi Family Residences 239,310 254,000 6.1% Assessor Housing w/o 14 666,317 708,000 6.3% 1,000 sq ft non-residential 446,108 572,000 28.2% Flow from OCSD 14 (IRWD) 6 12 32 433.3% Flow from SAWPA 6 15 30 400.0% Flow w/o 14 & SAWPA 229 237 259 15.1% Flow from all sources, MG• 241 264 321 34.9% Daily Flow Contributions 2020 quant adj to keep CDR ratio constant 2000Actual 2020 Projections Property Use Residential Multi-Family Residential Commercial IRWD (OCSD14) SAWPA Wet Weather, Infiltration, Inflow Average MGD total 03-86.2 fin/210/ggs Average MGD 111 43 67 6 6 8 241 OC Assessor Number of Units or 1,000 sq ft 427,000 239,000 446,000 1 Qf.2 Book Page 66 Average CDRAdj'd Daily Flow Number of (Gallons) Average Units or Per Unit MGD 1,000 sq ft 260 118 454,000 182 46 254,000 150 86 572,000 32 30 9 321 Source CDR CDR CDR oc Ass'r OCAss'r OCAss'r OC Ass'r CDMISPU COM ISPU CDMISPU COM ISPU Percent Of Increased Flow 8.8% 3.8% 23.8% 32.5% 30.0% 1.3% 100.0% 10/1/2003 Revision 000 D 1 2 3 4 5 6 7 8 9 10 Important Parameters Affecting Capital Facilities Capacity Charges Revised September 23, 2003 Preliminary Capital Facilities Capacity Charge Options J K .b M 1999 2003 RRR Paid Fixed Assets Strat Plan ValCIP By User Fee Only Existing Net Non-Capital Assets $ 347,000,000 572,000,000 572,000,000 Existing Net Capital Assets 416,000,000 502,000,000 502,000,000 502,000,000 Additional Capacity 805,000,000 622,000,000 622,000,000 622,000,000 Improved Treatment 48,000,000 642,000,000 642,000,000 642,000,000 Replacement, Rehab, Refurb 665,000,000 1,011 ,000,000 Support 14,0001000 96,000,000 96,0001000 96,000,000 Total $ 2,295,000,000 3,445,0001000 2,434,000,000 1,862,000,000 EDUs in 2020 @ 260 gpd 1,354,000 1,235,000 1,235,000 1,235,000 Investment per EDU * $ 1,695 $ 2,789 $ 1,971 $ 1,508 Raised by new EDUs $ 723,630,000 $ 859,1 60,000 $ 607,020,000 $ 464,370,000 N Q Growth Pays For Growth 622,000,000 - 622,000,000 308,000 $ 2,019 $ 622,000,000 * Differs from CFCC per base 3 bedroom SFR because Infiltration, Inflow and Runoff adjustments have not been included 03-86.2 fin/210/ggs ;l of2 Book Page 67 10/1/2003 Revision 000 Current Capital Facilities Capacity Charges The current CFCCs were adopted by Ordinance in June of 1999. Pursuant to Board policy, new rates were proposed to the FAH R Committee in May 2003, subsequent to the Interim Strategic Plan Update and the Validated Capital Improvement Program. The proposed CFCC rate changes were deferred by the Committee pending additional information, leaving the 1999 rates in effect as shown below. CAPITAL FACILITIES CAPACITY CHARGES Use Category Rate Basis Base Charge Commercial-Industrial Per 1,000 square feet Low Demand Per 1,000 square feet $ 110.00 Average Demand Per 1 ,000 square feet $ 675.00 High Demand Per 1,000 square feet $1,600.00 Single Family Residential Per Unit 5+ Bedrooms Per Unit $2,530.00 4 Bedrooms Per Unit $2,165.00 3 Bedrooms Per Unit $1,820.00 2 Bedrooms Per Unit $1,475.00 1 Bedroom Per Unit $1,130.00 Multi-Family Residential Per Unit 4+ Bedrooms Per Unit $1,965.00 3 Bedrooms Per Unit $1,620.00 2 Bedrooms Per Unit $1,275.00 1 Bedroom Per Unit $ 910.00 Studio Per Unit $ 580.00 The Supplemental Capital Facilities Capacity Charge (SCFCC) is applied to Significant Industrial Users on the basis of the average daily quantity of discharge in excess of the User's baseline. The SCFCC charge is based upon each discharge component and includes a nominal interest charge because the facilities must be paid for by the District in advance. Component Measurement Flow BOD ss Gallons Per Day Pounds Per Day Pounds Per Day G:\wp.dta\agenda\FAHR\FAHR2003\ 1003\03-86.3.doc 10/09/03 fin/210/ggs Book Page 68 Daily Charge $0.00057 $0.14461 $0.16025 Revision 000 ORANGE COUNTY SANITATION DISTRICT (714) 962-2411 Mailing -Address: P.O. Box 8127 Fountain Valley, California 92728-8127 Street Address: 10844 Ellis Avenue Fountain Valley, California 92708-7018 OCSD 2/13/03 7 7 l 7 -1 7 7 7 7 l J J J J J J J J J Orange County Sanitation District Communications Services Strategic Plan Environmental Stewardship ; I, --.., r . , 'I -• ,,., • \. -,L J,t . .. """':" . l f •.r.~'=..JS'"1] ~ ,. --, ·s; C LIJ Q) ~. (J ca Q. . .:i! ./ :i.. ~ .. ·~- Fiscal Year 2003-04 a, C ,.,, ::::s ..i (t) ..., ,.,, -~ ,.,, .,, :::!. ::::s (') -· "C -(t) Orange County Sanitation District Communications Services Strategic Plan Fiscal Year 2003-04 7 7 J l -J ' _j I ~J OCSD Communications Services Strategic Plan Table of Contents Introduction ......................................................................................................................................... 1 OCSD Overview ................................................................................................................................. 2 Situation Analysis ............................................................................................................................... 3 Target Audience .................................................................................................................................. 7 Goals ................................................................................................................................................... 8 Objectives ........................................................................................................................................... 9 Strategies ........................................................................................................................................... 10 Tactics ............................................................................................................................................... 11 Communications Plan Timeline ........................................................................................................ 15 Evaluation ......................................................................................................................................... 16 Communications Services Division Staff ......................................................................................... 17 Appendix -Biosolids Public Relations Plan Template ................................................................... Al OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 l 7 l l l j J J J J j OCSD Communications Services Strategic Plan Introduction Communications planning is a vital component of any organization's strategic direction. An integrated strategic communications plan is key to communicating effectively with the variety of audiences we serve. With the constant changes of a sophisticated communication environment in the Information Age, the Orange County Sanitation District (OCSD) needs to create and deliver clear and concise messages to targeted audiences. Communication is a two-way, interactive process in which both the community and the agency interact and respond to diverse demands. When OCSD is performing well, the public needs to be told about it. And when we have controversial issues, such as going to full secondary treatment or raising rates, communication strategies provide solutions to tell the complete story. The goals and objectives presented in this plan define specific goals, objectives, strategies and tactics to deliver communications services to both internal and external audiences. The communica- tion mix is flexible, and can be adjusted as new concepts and opportunities develop. The purpose of this plan is to outline communication objectives with appropriate strategies and tactics that will be implemented for both short and long-term results. An integrated strategic communications program takes into account media relations, community relations, and marketing and advertising techniques, to create a total communications campaign that will promote clear and transparent communication with all designated audiences. Page 1 of 17 OCSD/GM/COMJ 30/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 7 7 7 7 J l _j j J J J J OCSD Communications Services Strategic Plan OCSD Overview The Orange County Sanitation District (OCSD) is a public agency responsible for regional waste- water collection, treatment and disposal. Established in 1954, OCSD is the third largest wastewater treatment discharger west of the Mississippi River. OCSD provides services to approximately 2.3 million people in 21 cities and three special districts in the northern and central portions of Orange County, California by treating 240 million gallons per day of wastewater. OCSD serves approximately 92 percent of the County's population with a service area of approximately 471 square miles, or 59 percent of the County. The twenty-five member Board of Directors is comprised of representatives from twenty-one cities, unincorporated areas of the County and three special districts, including mayors of cities, members of city councils, directors of independent special districts, and one member from the Orange County Board of Supervisors. OCSD has approximately 540 employees working at two plants, one in Fountain Valley, California-Reclamation Plant No. 1 and the other in Huntington Beach, California -Treatment Plant No. 2. Page 2 of 17 OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Seivices Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 7 7 J J J J j OCSD Communications Services Strategic Plan Situation Analysis The Communications Services Division provides services and implements programs to meet the communication needs of both internal and external audiences for the Orange County Sanitation District (OCSD). The foundation of the plan is built on the principles of OCSD's vision and mission statements, as well as the unifying strategies developed in spring 2003, as noted below. Vision Statement: To maintain world-class leadership in wastewater and water resource management. Mission Statement: We, the employees and the Board of Directors of the Orange County Sanitation District, are committed to protect public health and the environment by developing, integrating and implementing fiscally responsible solutions to wastewater, water reclamation and watershed protection issues. We are a values-based organization dedicated to upholding and consistently demonstrating the attributes affirmed in our Guiding Principles. Guiding Principles: Our Guiding Principles are a declaration of who we are and the beliefs we affirm. They form the framework of our organization and reinforce our professional code of ethics. • Honesty, Trust and Respect • Teamwork and Problem Solving • Leadership and Commitment • Learning/Teaching-Talents, Skills and Abilities • Recognition/Rewards Unifying Strategies: Developed by the Executive Management Team (EMT) in spring 2003: 1. Environmental Stewardship: OCSD will participate collaboratively in the protection of regional water resources for the benefit of the people we serve. 2. Business Principle: OCSD will make every decision based on short and long-term environ- mental, societal, and financial impacts (the triple bottom line). 3. Wastewater Management: OCSD will beneficially reuse and recycle water and other resources using safe and effective wastewater systems. 4. Workplace Environment: OCSD will provide an environment of partnership, growth, opportunity, responsibility and accountability. Current Issues Issues facing OCSD include: implementation of a $2.4 billion capital improvement program (CIP); increasing wastewater treatment to full secondary treatment standards; increased cost of treating wastewater; increased user fee charges; disinfecting wastewater; treating urban runoff; biosolids recycling and application; partnership in the Groundwater Replenishment (GWR) System; ageing infrastructure; environmental stewardship; legislative advocacy; Sanitary Sewer Overflows (SSO) requirements; developing a Fats, Oils, and Grease (FOG) Program, Waste Discharge Requirements (WDR), and increasing ocean monitoring. Page 3 ofl7 OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 1 ·7 I 7 l l l l l .1 _J I =..J J J OCSD Communications Services Strategic Plan These issues are handled through functions such as media relations, website content, construction outreach, community outreach, employee newsletter, intranet development, corporate identity program, collateral material development, presentation development and crisis communications. (Note: Crisis communications for emergency procedures is detailed in a separate OCSD report, Emergency Preparedness.) The Orange County Grand Jury findings in a 2002 report asked OCSD for open, transparent communication with all audiences. The California Public Records Act (Govt. Code Section 6250- 6270) declares that access to information concerning the conduct of the people's business is a fundamental and necessary right of every person in this state. The Communications Services Division serves an internal audience of a 25-member Board of Directors, over 500 employees in Administrative Services, Engineering, Finance, Human Resources, Information Technology, Operations & Maintenance, and Technical Services departments, and the general manager. While these departments work independently on a variety of projects, the goal is to work collaboratively, rather than as silos, to maximize the benefits and resources for all audiences. Externally, OCSD interacts with a variety of audiences, including ratepayers, stakeholders, businesses, elected officials, regulatory bodies, and community groups, that are listed in detail on page 7. In the past few years, because of the need to react to issues like the ocean discharge permit 301(h) waiver and the rate increase, communications programs have been more reactive than proactive. Past efforts have focused on reacting to media calls on a current issue, versus initiating positive stories and "pitching" them to the press. OCSD defends, rather than promotes. We have been content to deal with the public when they are angry about an issue, versus building a relationship an.d educating them prior to an issue occurring. And in a changing world of electronic communica- tion, e-mail messages have a more important role in forming public opinion and quickly changing the landscape of current issues. This communications plan intends to provide the strategic methods to develop and implement a comprehensive approach to informing our varied audiences about the importance of programs that protect Orange County's most valuable resource-the Santa Ana River Watershed and the Pacific Ocean. Water quality protection is the keystone of OCSD's mission. Watershed management, full secondary treatment standards, disinfecting wastewater, urban runoff treatment, the GWR System, SSO, FOG, and WDR requirements, and water conservation are critical programs that ensure the highest standards of water quality protection are met. Without a clear understanding of the impacts from these programs, stakeholders cannot make the most fiscally responsible choices of how to manage these programs. This plan recommends working with a strategic direction of focused objectives, rather than only reacting to the current issues. Increases in construction projects will create areas of public concern. Beach closures will continue to be controversial. The communication challenge is to stick with a plan and designated priorities, while still responding to current issues. Strategic, long-term efforts Page 4 of 17 OCSD/GM/COMI 30/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 7 °l l 7 I l J J _J I :__j J J OCSD Communications Services Strategic Plan will go a long way to establishing increased credibility of OCSD. Of course, the Communications Services Division will always respond and be flexible to a rapidly changing landscape of issues. Current Perceptions of OCSD Many of OCSD's target audiences have current perceptions of OCSD that are misleading or inaccurate. A common misconception is that "sanitation" means trash. The Webster's dictionary definition of "sanitation" is, "the application of measures designed to protect public health. Disposal of sewage." While the definition defines what we do, the public perception that we deal with trash is reality. The initials OCSD can also be interpreted as the Orange County Sheriffs Department. If someone types "ocsd" into an internet search engine, the Sheriffs Department is also listed. In 1998, the agency became a consolidated agency and changed its name from County Sanitation Districts of Orange County (CSDOC) to Orange County Sanitation District (OCSD). CSDOC became a consolidated agency to streamline its governance structure. (Note the change from plural "districts," to singular "district.") Available Background Research about OCSD There are several existing research pieces available that also give input about the perceptions of OCSD. These focus groups and tracking polls begin to form a snapshot of OCSD as follows: 1. In June 2001, a public opinion poll was completed from a total of 1,500 OCSD service area voters who were surveyed on environmental issues and beach closures. In this survey, sewage overflows and spills were the cause of beach closures and postings according to over 42 percent of district voters. After those polled heard an explanation of current sewage treatment measures, over 60 percent felt that more needs to be done. A majority of the voters said they would be willing to pay an extra amount of money every year to treat sewage more thoroughly. A majority of the voters expressed confidence on the accuracy and honesty of OCSD's reporting results. (Survey conducted by Probolsky and Associates.) 2. In April 2002, OCSD released the results of a telephone survey of 650 residents in north and central Orange County that revealed a low, open-ended awareness of the current wastewater treatment program (17 percent of the public polled). After hearing about the current program in 2002, residents surveyed indicated strong opposition to the rate hikes that would accompany a significant change in the current level of treatment. (Survey conducted by Porter Novelli.) 3. OCSD conducted an internal employee survey ofOCSD's corporate identity in-i0_Q2. Out of 145 surveys distributed, a total of 32 managers, supervisors, professional and field staff responded with these comments: • "[OCSD's} Vision statement/agency's message is unclear to audience. Public/media don 't understand name and connection to 'county. '" • "Cities don't understand connection to our mission and public health benefits. " • "Name [Orange County Sanitation District} is associated with trash. " Page 5 of 17 OCSD/GM/COM130/CB;lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 7 7 7 I l l l _, j i -j l l .;_J _J J I J OCSD Communications Services Strategic Plan • "Rate increase and waiver issues brought OCSD to public attention, but then we 're off the radar screen. " • "Audience does not know what 'wastewater' is. " • "Wastewater and storm water treatment is confused. " • "External audiences don't understand that we are the end of a major watershed, so that our mission is huge (inland to the ocean)." 4. In April-May 2003, biosolids focus groups were held and in-depth interviews were conducted with 42 people. Attitudes toward OCSD were fairly benign. Most participants knew little about the county agency and many assumed, based on its name, that OCSD must be the agency responsible for trash pick-up. A few associated OCSD with ocean pollution, while one very informed participant countered that OCSD is monitoring the ocean and not necessarily responsible for the pollution. Some assumed that the beach pollution is being caused by sewage being dumped into the ocean, while others blamed it on inadequate infra- structure or management of the problem. Though the issue of "wastewater disposal" generated some discussion, it was evident that most participants had not given the issue a great deal of thought, nor was it a particularly high priority issue in their lives. Many confused wastewater with storm water. (Interviews conducted by Porter Novelli.) 5. In May 2003, a biosolids telephone survey of 500 people in the service area was conducted. When asked what kind of impression participants had about the Orange County Sanitation District, 20 percent said, "very favorable;" 39 percent said, "somewhat favorable;" 9 percent said "somewhat unfavorable;" 6 percent said "very unfavorable;" 13 percent said "aware but no impression;" and 14 percent said "not aware." (Survey conducted by Porter Novelli.) 6. In April 2003, a GWR System television commercial tracking poll was conducted. The approval rating for OCSD remained strong, moving from 73 percent to 74 percent. Public agencies typically achieve approval ratings in the 50-55 percent range. When participants were asked, "Do you approve of the job the Orange County Sanitation District does," out of 300 calls, nearly half said they "somewhat approve," and 27 percent said they "strongly approve" of the job OCSD does. (Poll conducted by Porter Novelli.) Page 6 of 17 OCSD/GM/COM 130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 7 7 7 j 7 I l l \ J J l J ' J J J Target Audiences Board of Directors Business and industry Chambers of Commerce within service area Community leaders County of Orange, Board of Supervisors Elected officials -local, state and federal Employees Environmental groups General public/community Media -local, regional, state and national Opinion leaders Orange County Grand Jury Ratepayers Regional, state, national regulatory agencies Schools/students Special interest groups Stakeholders Taxpayer groups (Orange County Taxpayers Association) Trade organizations ( e.g., AMSA, CASA, CWEA, WEF) Water districts and producers (e.g., OCWD, MWDOC) Page 7 of 17 OCSD/GM/COM130/CB:lj OCSD Communications Services Strategic Plan Created 9/15/03 Revised 9/25/03 G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc 7 7 7 7 7 7 7 -1 l ) J _l J J J J J J J OCSD Communications Services Strategic Plan Goals (A goal is a more specific expression of a mission, described as the desired outcome of a plan of action) 1. Promote the understanding of OCSD' s mission to protect the environment. 2. Develop a clear identity for OCSD while maintaining the integrity and history of the existing agency. 3. Develop a proactive media relations campaign to build a positive image and awareness ofOCSD. 4. Develop internal and external communication tools and processes to meet the needs of target audiences and to promote desirable outcomes. 5. Develop community outreach tools to educate the public about watershed issues. Page 8 of 17 OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 l J OCSD Communications Services Strategic Plan Objectives* (Milestones-specific, measurable, attainable, relevant, timely-that measure progress toward achievement of a goal.) *in alphabetical order 1. Biosolids Outreach -Draft a public relations plan by December 30, 2003 to meet the needs of the Long-Term Biosolids Master Plan that will present an outreach program to respond to community concerns about biosolids application and usage. 2. Community Education and Outreach Program -Prepare and implement new avenues for education and outreach within the OCSD service area to communicate "who we are" and "what we do," as well as, to further our environmental stewardship focus. Research and implement a school program by September 2004. 3. Construction/Capital Improvement Program Outreach-Develop and implement programs in FY 2003-04 that can broaden community outreach and help targeted audiences understand the scope of the CIP plan. Develop two-way communication lines between the people who live near OCSD facilities and along construction routes. 4. Corporate Identity Program -Establish a corporate identity program that clearly communicates OCSD's functions and vision. Use the corporate identity program as an opportunity to educate people about water reuse to coincide with OCSD's 50th Anniversary. 5. External Communications -Provide clear, transparent information to the media to meet 100 percent of their requested deadlines and to the public within a 24 hour turnaround period. 6. Fats, Oils, and Grease (FOG) Community Education Program -Prepare and implement a communications plan that includes public education and outreach programs that promote the proper disposal of FOG and reduces the amount of these substances discharged into the sewer collections system by December 30, 2004. 7. Groundwater Replenishment (GWR) System-Participate in planning meetings and development of a communications plan for GWR System public outreach throughout Fiscal Year 2003-04. 8. Internal Communications -Determine importance, relevance and usefulness of various internal communication items with results of a Communications Audit to be conducted in spring 2004. 9. Intranet Development -Design and implement, in partnership with the Information Technology Department, an effective and efficient intranet site by June 2004 to facilitate communications with OCSD employees. 10. Legislative Advocacy-Support legislative advocacy efforts in Washington D.C. and California to secure OCSD's capital improvement program funding and improved law making. 11. OCSD' s 50th Anniversary -Prepare and implement a communications plan with internal committee to commemorate and celebrate OCSD's 50th Anniversary on June 30, 2004. Page 9 of 17 OCSD/GM/COMI 30/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 7 7 7 l 7 7 l ] 1 ~ 1 J -J J J 1 J OCSD Communications Services Strategic Plan Strategies (A general means for accomplishing a goal.) 1. Refine existing communication tools to support the current communications plan. 2. Focus legislative efforts in both state and federal areas to secure maximum benefit for OCSD's interests on behalf of stakeholders. 3. Develop communication tools that provide OCSD' s Board awareness of current issues. 4. Generate positive editorial coverage in the media. 5. Create awareness of the importance of wastewater treatment for public health. 6. Maintain OCSD's visibility through community outreach and education, and special events. 7. Reinforce relationships with the audiences we serve. 8. Communicate organizational mission and direction through unifying strategies. 9. Build a positive organizational culture ( attracts good employees, maintains retention, and promotes teamwork). 10. Continue to develop new communication tools such as intranet, construction outreach information, etc., for target audiences. 11. Manage and reinforce relationships with internal and external audiences. 12. Facilitate two-way communication between management and staff. , .. ,._ Page 10 of 17 OCSD/GM/COMl30/CB:lj Created 9/15/03 Revised 9/25/03 G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc l l l l ) ] J J J OCSD Communications Services Strategic Plan Tactics* (Activities or tools -the specific projects that will be undertaken to implement strategies and thereby achieve goals and objectives. These are sensitive to available staff, budget and time constraints.} '"for each objective in alphabetical order 1. Biosolids Outreach • Collaborate with the Environmental Compliance and Monitoring Division to provide media relations counsel for topics concerning biosolids issues. • Provide and draft presentation support materials for external audiences about OCSD's biosolids environmental management system (EMS) certification. • Track biosolids legislation and provide support letters, collateral materials, briefing books and tours when appropriate. • Provide media relations conference support for OCSD staff attending trade conferences. • Draft, update and print a general informational biosolids brochure. • Consider funding an endowed chair at the University of California, Irvine for biosolids research. • Develop a public relations plan to increase the understanding of the need for recycling Biosolids. Template for plan in attached Appendix. 2. Community Education and Outreach Program • Develop opportunities to educate our varied audiences on "who we are" and "what we do" with specific focuses on watershed issues. • Continue promoting and administering Volunteer Incentive Program to support staffing for education/ outreach activities. • During construction, as an alternative to plant tours, develop educational opportunity and lectures for general, college and elementary school audiences. • Participate in community events that support OCSD's unifying strategies. • Develop a school program that educates students on environmental stewardship topics. 3. Construction/Capital Improvement Program Outreach • Provide regular briefings to OCSD's Board member(s) whose areas are affected by the project. • Create and continually update briefing materials to simplify content. • Provide updates to Finance, Administration and Human Resources (F AHR) and Planning, Design and Construction (PDC) committees on construction outreach projects. • Provide project notifications prior to beginning of construction. • Conduct neighborhood meetings in areas impacted by construction. • Send media alerts for neighborhood meetings. Page 11 of 17 OCSD/GM/COMl30/CB:lj G:\wp.dta\adrnin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 l ] j OCSD Communications Services Strategic Plan • Update collateral materials, fact sheets and website with current construction information. • Maintain ongoing communications with city staff on current construction and outreach projects. • Maintain ongoing communications with impacted residents within the project area. • Develop a school outreach program for construction safety. • Provide door hangers, fliers, maps and other related informational materials. 4. Corporate Identity Program • Draft a request for proposal for an outside agency to conduct focus groups to evaluate current perceptions of OCSD and to review and recommend any changes to OCSD's current corporate identity program. • Develop OCSD public message(s), image(s) and/or slogan that are simple, honest, realistic, consistent, supports OCSD's values and mission, and that are easy to remember and that will not be misunderstood. Get buy-in from employees, management and OCSD's Board. Test message(s) on a small segment of the public to get their comments. • Develop a communications plan to continuously "market" OCSD's message(s)/slogan to the public and target audiences. The plan shall include an evaluation tool(s) to consider mediums used, frequency, how it is reaching/targeting individuals, the saturation/coverage of service area, and provide a means for public feedback to evaluate effectiveness. • Prepare a graphics identity manual for consistent and accurate usage of OCSD's name, logo, message(s) and/or slogan in displays, signage, vehicles, stationery, collateral and electronic formats. • Evaluate internal OCSD image and message(s) with employees and management. • Evaluate consistency of internal logo usage throughout agency to make consistent through all mediums. • Develop a public relations campaign to educate targeted audiences about wastewater treatment and to strengthen the understanding between ratepayers, media and employees, using new corporate identity as a link to the message. • Consider implementing a community advertising program to educate the public about wastewater treatment. 5. External Communications • Provide presentations skills counsel and graphic support to OCSD employees who give external speeches. • Update website with current, timely information on an ongoing basis. • Media relations: -Update press kit and collateral materials, including the OCSD general brochure. -Maintain and update media lists. -Develop relationships with key reporters. -Draft pitch letters on items of interest for feature stories. Page 12 of 17 OCSD/GM/COM 130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 1 I J OCSD Communications Services Strategic Plan -Draft press releases on newsworthy topics. -Look for photo opportunities. • Establish company-wide procedure for dealing with and responding to media calls. • Develop media training program for Executive Management Team and key spokespersons. • Research and plan educational program with schools as part of public outreach campaign. • Participate in community events that promote OCSD's unifying strategies. • Participate in legislative advocacy activities that promote OCSD and future funding and regulations. • Provide tours for target audience groups. • Develop a tracking method to capture OCSD speeches presented to all outside audiences. 6. Fats, Oils, and Grease (FOG) Community Education Program • Compile results of outreach letter to determine how cities within service area want to proceed on creating a communications plan. • Take results of outreach above to Operations, Maintenance and Technical Services (OMTS) Committee for direction on next steps. • Develop an outreach program based on cities input and "fair share" program. • Develop a request for proposal to design tools. • Oversee consultant contract, and work with cities to develop a successful program. • Develop program to meet regulatory requirements by December 2004. • Work with collections staff to implement a program within OCSD's service area. 7. Groundwater Replenishment (GWR) System • Participate in ongoing public relations campaign with the Orange County Water District by using the plan prepared by Porter Novelli. 8. Internal Communications • Develop workshops and collateral materials that clarify current issues to OCSD's Board. • Conduct an internal communications audit to evaluate current programs and tools. • Develop presentation skills program for the Executive Management Team and key spokespersons. • Continue Volunteer Incentive Program to encourage employees to volunteer. Include OCSD retirees in program. • Publish monthly Pipeline newsletter. • Provide planning for general manager's "All Hands" meetings. • Plan and implement "breakfast with Blake" or similar small group meetings with general manager and employees. Page 13 of 17 OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 7 7 7 l J OCSD Communications Services Strategic Plan • Provide graphic support to all divisions of OCSD . • Maintain company bulletin boards with appropriate material. • Track and record internal communications services provided and projects completed for OCSD staff, for relevance and time spent, using MAGIC software reports. 9. Intranet Development • Participate in development of intranet with Information Technology Department. • Create a new look and feel for the OCSD intranet site, create templates to facilitate the updating of content, and develop workflows. • Use the intranet as a tool to facilitate inter-and intra-departmental communications. • Put the Pipeline newsletter online via the intranet. • Provide change management procedures for updating and maintaining the intranet site. • Develop content guidelines. • Design and launch an in-house promotion of the intranet to OCSD employees. 10. Legislative Advocacy • Develop agendas for and participate in weekly meetings to discuss current legislative initiatives. • Draft letters, briefing books and other collateral materials to help lobby local, state and federal legislators. • Participate in legislative advocacy activities that promote OCSD, future funding and industry regulations. • Provide briefings and tours to legislative aids as informational background about OCSD. • Provide OCSD background information to OCSD lobbyists. 11. OCSD's 50th Anniversary • Prepare a communications plan with input from an internal committee on how to make this historic occasion memorable for employees, retires, OCSD's Board and the community. • l!tilize various communication tools to promote anniversary event such as: -Press releases to newspapers and trade magazines. -Articles or advertising to organizations like AMSA, CASA, CWEA, WEF, Engineering Associations, Orange County Business Council and Historical Societies. -Video broadcast on local cable TV. -Articles in the employee newsletter. -Paragraph in various OCSD annual report publications. • Create various promotional materials to be determined in the communications plan. • Plan events to be determined in the communications plan. Page 14 of 17 OCSD/GM/COM130/CB:lj G:\wp.dtaladmin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 l QO :;..("') ~~ ~o ~~ I~ \,.) w 6~ 0 t:tJ 3 .. Sc-: n ~ "ti ! 0 w ~ I("') 0 i ~-g. ~ en ~ ;;· Cl) "' ' (JC> ;;· "ti ., lr:J 0 tS V\ 8 g- n ""d i,, (J'Q 0 -Vl 0 ...., --...J (") '"'I ~ 0 (1) !:;. ~-8.. 8.. '° 'O ....__ ---N Vl V\ ....__ oO \,.)\>) l_ I :... 2003 September Pipeline (monthly) . ~ Internal & External Communications Projects Legislative Advocacy Community Outreach Construction Outreach Intranet Development Begins Development of FOG Community I Education Plan I ' ~--L r I., I ,.. ,.. Communications Plan Timeline November _[_ December 2004 October January February March - (ongoing items) . -Project Updates for FAHR and (monthly PDC Cmtes. updates) Construction J Project Updates - Biosolids .. Biosolids PR Planning PR Plan ---- OCSD's Corporate Identity 50th Anniversary Research & Planning Planning Promotions ~ /or New Launch New .,. Intranet Intranet Begin I ' _j April May ... ,, ' 1 _J J June - ... .... ... ~ Corporate Identity Program Introduction - OCSD's 50th Anniversary .> J .J a ~ t, ~ ~ ~ § tr .... s· ;:i "' ~ ~ ~- ~ ~ r;· ~ ;:i 7 I 7 7 I -, I 1 1 1 1 j J ._J l J OCSD Communications Services Strategic Plan Evaluation (Measures the effectiveness of activities at reaching objectives.) • Review with OCSD's Board on a quarterly basis (January, April, July, and October) how communications plans, programs and tactics are progressing to meet the objectives noted on page 9. • Conduct quarterly meetings with the general manager to review data from TEAM (Together Effectively Achieving Maximum Communications) Communications Department meetings and MAGIC software reports for relevance and time spent on current projects to meet established objectives. • Evaluate the cost-effectiveness of projects versus the outcomes. • Conduct an employee survey and internal communications audit to evaluate internal communication effectiveness. • Conduct focus groups to establish a benchmark of measurement prior to beginning evaluation of corporate identity program. • Conduct additional focus groups after corporate identity program is in place to measure change in awareness of external target audiences. • Review print and broadcast media coverage. Page 16 of 17 OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 7 7 7 7 7 ~l 7 ~l l l J J J J J J J J J OCSD Communications Services Strategic Plan Communications Services Division 130 Carol Beekman, Communications Services Manager Sonja Wassgren, Principal Public Information Specialist Ingrid Hellebrand, Senior Public Information Specialist Jennifer Cabral, Public Information Specialist Dionne Kardos, Public Information Specialist Lynn Jensen, Administrative Assistant Page 17 of 17 OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Cornmunications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 OCSD Communications Services Strategic Plan Appendix A Appendix-Biosolids Public Relations Plan Template I. Overview/Situational Analvsis A. Overview This document is meant to serve as a guide for implementing and executing a public relations plan for a proposed biosolids recycling facility. This facility may or may not be located in Orange County and the guide is a general overview of public relations strategies/tactics and general research methodologies. B. Situational Analysis The Orange County Sanitation District is in the process of developing an upgraded treatment system for its biosolids in the face of changing regulations and diminishing options for traditional reuse and disposal. OCSD' s strategic plan calls for 100 percent biosolids recycling. OCSD is in the process of developing a public relations plan that will address specific concerns, such as the "not in my back yard" attitude, health concerns and odors. The public relations plan is a template for planning and implementing a successful community relations program. II. Approach A. This plan is meant to serve as a guiding chronological explanation in developing a public relations plan. The first step is conducting research. Once research has been conducted, analyzed and summarized, it will better identify who the audiences are, what the messages will be, and how best to convey those messages to the target audiences. B. Next steps: 1. Write plan 2. Implement tools 3. Evaluate 4. Refine plan III. Research A. Focus Groups Conduct a series of no less than four focus group discussions to flesh out residents' preferences for biosolids recycling options. The purpose of the focus groups is to: determine residents' knowledge of biosolids; test preferences for the biosolids management options; and ask participants to vote on a specific option and then explain/discuss their reasons. The following groups are recommended to be included in the focus groups: 1. Residents within 1 mile from a proposed facility 2. Residents within 3-5 miles from a proposed facility 3. Residents residing throughout the service area (2 groups) A-1 of3 OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Commun.ications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 l J -J OCSD Communications Services Strategic Plan Appendix A B. Survey Research An extensive telephone survey typically follows the focus groups. Telephone surveys test general residents' acceptance of the options and related issues. Survey research provides a quantitative evaluation of residents' attitudes. IV. Audiences The most likely audience to be targeted through a public relations plan is the population immediately surrounding the proposed facility. The following are a list of target audiences used to help mold opinion. 1. Public health officials 2. Local elected officials 3. General public, surrounding community, businesses 4. Local media V. Potential Messages • Biosolids are a fact of life; recycling is the responsible thing to do. • Recycling biosolids has been proven as an effective means of recycling waste. • Communities around the country have been successfully recycling biosolids for decades. VI. Implementation A. Public Relations Plan 1. Goals ( e.g., Communicate with the community potential impacts of a proposed biosolids recycling facility.) 2. Strategies 3. Objectives 4. Messages 5. Target Audiences a. General public b. Civic organizations c. Environmental groups 6. Tools a. Collateral development b. Website c. Community meetings/open houses d. Media relations e. Direct mail and mailing lists f Community newsletters g. Speakers bureau h. Advertising campaign, when necessary B. Government Relations 1. Goals (e.g., Receive as many endorsements as possible from the political community.) 2. County Strategy (Orange County or elsewhere)-Keep County elected officials and their staff updated as to status of proposed project. A-2 of3 OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 7 I 1 l J _J _j OCSD Communications Services Strategic Plan Appendix A 3. City, Community or Municipality Strategy-Establish and maintain support for proposed facility during planning and construction periods. C. Coalition Building I. Seek support from groups and individuals. 2. Have supporters speak on your behalf when possible. 3. Focus on health and science experts-they are credible. VII. Evaluation A. Measure success against objectives. B. E-mail/Website Review I. Number of hits from the website is a good indicator of public information influence. 2. Post surveys on the website. 3. E-mail from the website is a key tool for generating audience feedback. 4. Evaluate comments. C. Information and Construction Hotlines. I. Number of calls is also another indicator of public information influence. 2. Maintain call logs from the information line and construction hotlines and monitor regularly. 3. Compile, evaluate and maintain activity reports. D. Feedback/Endorsement Forms I. Make feedback/endorsement forms available on all collateral material. 2. Leave endorsement forms behind for attendees after presentations. 3. Evaluate comments. E. News Clip Monitoring I. Monitor, compile and maintain news stories, letters to the editors, editorials and opinion editorials. 2. Conduct a bi-monthly media analysis. 3. Disseminate positive news clips to elected officials, opinion leaders and supporters. A-3 of3 OCSD/GM/COM130/CB:lj G:\wp.dta\admin\130\Comm\Comm Plan\FY03-04_Communications Services Strategic Plan_092503.doc Created 9/15/03 Revised 9/25/03 17 7 17 17 l 7 1 l ] J J J J J J J J j I J ORANGE COUNTY SANITATION DISTRICT Communications Services Division (714) 962-2411 Mailing Address: P.O. Box 8127 Fountain Valley, California 92728-8127 Street Address: 10844 Ellis Avenue Fountain Valley, California 92708-7018 OCSD 10/03 7 7 l FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Michael White, Controller Meeting Date To Bd. of Dir. 10/08/03 10/22/03 Item Number Item Number FAHR03-78 ' SUBJECT: TREASURER'S REPORT FOR THE MONTH OF SEPTEMBER 2003 GENERAL MANAGER'S RECOMMENDATION Receive and file Treasurer's Report for the month of September 2003. 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. Some funds are also deposited in the State of California Local Agency Investment Fund for liquidity. 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 Investment Policy. The portfolio contains no reverse repurchase agreements. As shown on page 2 of the attached PIMCO's Performance Monitoring and Reporting Report for the Long-Term Operating Monies, there is a investment policy compliance exception pertaining to the holding of two securities within PIMCO's Long-Term Operating Monies Portfolio that had an acceptable rating at the time of purchase but has since fallen below the minimum rating allowed by the investment policy. The District's investment policy requires a minimum rating of A3 by Moody's or A-by S&P, with at least a BBB rating in the event of a split rating, at the time of purchase. The first of these rating exceptions pertains to the holding of a United Airlines (UAL) Asset Backed Security with a par value of $1.6 million, representing 0.4 percent of the portfolio holdings, whose rating from Moody's has fallen several times, from A3 to BA 1, then to BA3, 83, 8, and finally to CA. Likewise, the rating from Standard & Poor's has also fallen several times, first from A-to BBB, then to BB, then to B+, 8-, and finally to CCC+. Although these ratings are less than what is required at the time of purchase, PIMCO believes, based on the financial strength of UAL and the underlying collateral of the security, that the District would suffer an unwarranted loss if the security was sold at this time. The second ratings exception pertains to the holding of a $5 million par of the Philip Morris-Altria corporate bond with an April 2004 maturity, representing 1.3 percent of the portfolio holdings, whose rating with Moody's has fallen from A2 to Baa1 and then to C:\Documents and Settingslpope\local Settings\Temporary Internet Files\OLKBF\03-78,TREASRPT.doc Page 1 Baa2, and with S&P from A-to BBB. PIMCO believes based on the underlying assets of the parent company, that the District would again suffer an unwarranted loss if the security was sold at this time. The District's investment policy does not require any action because of "credit watch" notices or the decline in credit standing. However, PIMCO will continue to monitor the credit for these two securities very closely. 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. BUDGET IMPACT • ~ This item has been budgeted. (Line item: Not applicable (information item) 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. Also provided is a summary of monthly investment balances and transactions within the State of California Local Agency Investment Fund (LAIF). In addition, the remaining $129.9 million proceeds from the 2003 COP debt issuance available for future capital improvements is being managed and invested by PIMCO with Union Bank of California serving as the Trustee. When combined with the reserves of the existing outstanding debt issues, total debt service reserves with trustees totals $191,580,843. 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 on the following page details the book balances of the District's investment accounts at month-end. A graphical representation of month-end balances is shown on the attached bar chart. C:\Documents and Settingslpopellocal Setlings\Temporary Internet Files\OLKBF\03-78.TREASRPT.doc Page 2 Book Balances Estimated Investment Accounts September 30, 2003 Yield(%) State of Calif. LAIF $ 34,246,098 1.63 (1) Union Bank Checking Account 1,485,007 0.88 (1) PIMCO -Short-term Portfolio 37,481,283 1.43 PIMCO -Long-term Portfolio 382,596,263 2.83 Petty Cash 5000 N/A TOTAL $455 813 651 2.62 Debt Service Reserves w/Trustees :S191 58Q 8~3 1.84 (1) This is the annualized yield for the month of August. The September annualized rate was not available as of the date of this report. ATTACHMENTS 1. Graph of Monthly Investment Balances by Type -Last Six Months 2. Investment Transactions and Balances in the State Local Agency Investment Fund 3. PIMCO Monthly Investment Recap & Yield Analysis Report 4. PIMCO Performance Monitoring Report -Liquid Operating Monies 5. PIMCO Performance Monitoring Report-Long-Term Operating Monies 6. Mellon Trust Asset Summary by Asset Type with Sectors -Liquid Operating Monies 7. Mellon Trust Asset Summary by Asset Type with Sectors -L-T Operating Monies 8. Mellon Trust Yield Analysis Report 9. Mellon Trust Asset Detail -Consolidated 10. Mellon Trust Transaction Detail -Consolidated MW:lc C:\Oocuments and Settings\pope\Local Sellings\Temporary Internet Files\OLKBF\03-78.TREASRPT,doc Page3 Prepared by Finance, 10/8/2003, 10:41 AM Monthly Investment Balances by Type- Last Six M.onths $700,000,000 ·········· ..... ···········---.................. ......... ·········1 ....................................................... ....... ........................... lllilillliilliilillll~ $600,000,000 _,____ ____________________ _ $500,000,000 -+------------------------ $400,000,000 ...._____, $300,000,000 $200,000,000 I E $100,000,000 t-iilll---J $0 April 2003 May 2004 June 2003 July 2003 0 PIMCO -Long-term l?J PIMCO -Short-term Ii COP Debt Reserves G11LAIF •Bank Accts •Petty Cash G:\excel.dta\fin\220\white\Treasury Management\Monthly Investment Balances Graph.xis August 2003 ---•. September 2003 Balance Orange County Sanitation District Investment Transactions and Balances in the State of California Local Agency Investment Fund September 30, 2003 Par Value Book Value Market Value September 1, 2003 $33,946,098 $33,946,098 $33,946,098 Deposits: 9/19/2003 12,600,000 12,600,000 12,600,000 Withdrawals: 9/3/2003 (300,000) (300,000) (300,000) 9/10/2003 (4,300,000) (4,300,000) (4,300,000) 9/17/2003 {2,000,000) (2,000,000) (2,000,000) 9/24/2003 (5,700,000} (5,700,000) (5,700,000} Total Withdrawls (12,300 ,000) {12,300,000) (12,300,000) Balance September 30, 2003 $34,246,098 $34,246,098 $34,246,098 Rate Yield 1.632 1.632 1.632 1.632 1.632 1.632 1.632 1.632 1.632 1.632 1.632 1.632 1.632 1.632 1.632 1.632 PIM C 0 October 6, 2003 Mr. Mike White, CPA Controller Orange County Sanitation District I 0844 Ellis A venue Fountain Valley, CA 92708-7018 Dear Mike: The following is a description of events in the bond markets during the month of September in addition to an analysis of the strategies undertaken in the Orange County Sanitation District's Long-Tenn, Liquid, and COP Proceeds portfolios over the period. Also included is a section on our outlook and preferred strategies to be pursued in your portfolios during the coming months. Bo11d Market Recap: The bond market rallied during September, as most fixed-income sectors posted strong returns. U.S. Treasuries returned 3.02%, while the S&P 500 was down 1.06% for the month. Yields declined across maturities, with bonds maturing between 2 and 10 years outperfonning both shorter and longer maturities. Mortgage backed securities performed well, returning 1.70%, but trailed Treasuries by 6 basis points after adjusting for duration. Corporate bonds also performed well as the Lehman Credit Index returned 3 .49%, for a duration-adjusted excess retum of 41 basis points. Lower quality investment grade names outperformed as BBB-rated bonds led Treasuries by 57 basis points on a duration-adjusted basis. The Federal Reserve elected to keep rates unchanged, citing weakening labor markets and a benign inflation outlook. Nonetheless, consumers boosted their spending in August as federal government tax relief helped boost Americans' disposable income. Personal income rose by 0.2% after climbing a revised 0.3% in July, and personal consumption increased 0.8% after rising by a revised 0.9%. Spending on durable goods advanced 2.8% in August, following an increase'of 3.3% in July. In spite of the increases in spending and income, the University of Michigan's index of consumer sentiment fell to 88.2 from 89.3, the third decline in four months. Manufacturing remains sluggish, as capacity utilization was unchanged at 74.6 percent, and the Institute for Supply Management's factory index declined to 51.2 from 58.9. Mr. Mike White, CPA Orange County Sanitation District October 6, 2003 Page2 Treasury yield changes during the month of September are summarized as follows: • 3-month bills: -3 basis point to 0.94% • 6-month bills: -4 basis points to 1.00% • 2-year notes: -51 basis points to 1.46% • 5-year notes: -64 basis points to 2.83% • 10-year notes: -53 basis points to 3.94% • 30-year notes: -34 basis points to 4.88% Per[ornumce Attribution: Long-Term Portfolio The Long-Term portfolio that PIMCO manages on behalf of Orange County Sanitation District generated a total return of 1.62 percent for the month of September, outperforming the Merrill Lynch 1-5 year Government Corporate Index by 3 basis points. The following points summarize returns for the peri.od ended September 30: • The Long-Term portfolio outperformed the benchmark by 3 basis points for the month but lagged by 17 basis points for the year-to-date period. • Portfolio duration, near the index, was neutral for performance. • Yield curve positioning, with an emphasis on intermediate maturity issues was slightly positive for performance as yields fell most in this portion of the yield curve. • An underweight exposure to Treasuries was negative, as the sector rallied strongly during the month. • Exposure to mortgage-backed securities was negative for relative performance as the sector underperformed Treasuries on a duration-adjusted basis. • Corporate issues were positive for performance as the sector continued to perform strongly relative to other.bond market sectors; however, an underweight exposure relative to the benchmark was negative. Liquicl Portfolio The Liquid portfolio that PIMCO manages on behalf of Orange County Sanitation District generated a total return of 0.13 percent during the month of September, outperforming the 3- month Treasury Bill Index by 5 basis points for the month. The following points summarize returns for the period ending September 30: • The Liquid portfolio outperformed the benchmark by 5 basis points for the month and by 12 basis points for the year-to-date period. • Use of higher yielding securities such as commercial paper and short-term notes contributed to performance. Mr. Mike White, CPA Orange County Sanitation District "2003 COP Proceeds -Future Construction" Portfolio October 6, 2003 Page3 The COP Proceeds portfolio that PIM CO manages on behalf of Orange County Sanitation District generated a total return of 0.14 percent during the month of September, outperforming the 3- month Treasury Bill Index by 6 basis points for the month. The following points summarize returns for the period ending September 30: • The Liquid portfolio outperformed the benchmark by 6 basis points for the month. • Use of higher yielding securities such as commercial paper and short-term notes contributed to performance. Outlook and Strategy: PIMCO is optimistic about the cyclical outlook, forecasting an upturn in the U.S. economy over the next six to 12 months with a positive spillover effect into global demand. This revival will, however, either exacerbate or fail to redress secular imbalances such as the U.S. current account deficit, structural rigidities in Europe and huge public sector debt in Japan. Confronting these problems will constrain growth, making PIMCO pessimistic about the sustainability of the upturn beyond a cyclical time frame. Inflation will be contained by slack in labor markets and industrial capacity as well as productivity growth. Tame inflation will help keep interest rates range-bound over the next year, with I 0-year Treasury yields hovering around 4% to 5%. There will be volatility within this range, however, as markets reassess prospects for sustainable growth. Key elements of PIMCO's forecast are: • Disposable personal income will get a boost from federal tax cuts and the lagged impact of the mortgage refinancing boom. • The Federal Reserve will support recovery by keeping the federal funds rate at 1 percent for at least the next year. • It remains unclear whether corporate risk appetites will revive enough to fuel the rebound in capital spending and hiring that is critical for sustained growth. • Growth prospects are improved in Europe, helped by the U.S. recovery and tax cuts in Germany. Growth will remain below potential, however, held back by rigid product and labor markets. • External demand is sparking a recovery in Japan, especially among globally competitive Japanese corporations, which are paying higher real wages and investing surplus cash in China. A rally in Japanese stocks has bolstered the balance sheets of Japan's troubled banks. • China, struggling to employ workers shifting from agricultural labor and away from state-owned firms, will continue its export-driven economic policy for now. It will help fund the U.S. trade deficit on favorable terms and resist a currency revaluation. Caution is warranted given potential volatility around economic releases and full valuations in core bond sectors. Even so, we see ample opportunity to add value. With rates expected to be stable, we will target near-index duration but we will take modest exposure on the short end of Mr. Mike White, CPA Orange County Sanitation District October 6, 2003 Page4 the yield curve as markets are pricing in more restrictive central bank policies than we foresee. A short maturity focus will allow PIMCO to reap gains by "rolling down" the steep short/intermediate maturity yield curve. Another way to exploit the steep curve is to buy bonds with longer settlement periods and invest cash backing the unsettled issues in short term debt with relatively high yields. Mortgage-backed bonds are fairly priced now, so we will limit exposure to this sector. We will remain underweight in corporate bonds, which generally offer slim yield premiwns for the credit risk we see. Outside these core strategies, however, real return bonds remain compelling as a long term holding given their historically attractive real yields and ability to hedge secular inflation risk. We look forward to discussing these and other topics with you in the near future. Best regards, Christine Telish, CF A Vice President John M. Miller, CF A Senior Vice President Orange County Sanitation District for the month ending September 30, 2003 Total Return Account -203 Market Value Book Value Yield to Maturity Short Term Account -603 Market Value Book Value Yield to Maturity With Accrued Interest 385,934,399 377,810,436 2.83 With Accrued Interest 37,953,653 38,581,010 1.43 2003 COP Proceeds -Future Construction -2203 With Accrued Interest Market Value Book Value Yield to Maturity 129,942,230 129,943,524 1.43 Without Accrued Interest 382,630,380 374,506,417 2.85 Without Accrued Interest 37,486,333 38,113,690 1.39 Without Accrued Interest 129,655 ,812 129,657,106 1.43 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 30 September 2003) Liquid Operating Monies (603) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • PIMCO • Mellon Historical Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST 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: Fiscal Year-to-Date: Cf:mzmentary • The Liquid portfolio outperformed the benchmark by 5 basis points for the month and by 25 basis points for the last 12 months. • PIMCO's emphasis on higher yielding securities such as commercial paper and short-term notes contributed to performance. G:\wp.dta\lin\220\white\Treasury Mgmt\LIQ0S00-03-09.RPT.doc Page 1 of 1 $37,953,653 $37,950,138 $38,581,010 $38,581,018 0.25 0.20 $94,884 0% 57% ''AAA'' 0% Yes Portfolio Index 0.13 0.08 0.28 0.25 1.47 1.22 0.28 0.25 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 30 September 2003) Long-Term Operating Monies (203) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • PIMCO • Mellon Historical Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST RA TE CHANGE Dollar Impact (gain/loss) of 1 % Change: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: (see attached schedule) 15.1.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: 1 Month: 3 Months: 12 Months: Fiscal Year-to-Date: • The Long-Term portfolio outperfo1med the benchmark by 3 basis points for the month, but fogged by 46 basis points over the last 12 months. • Portfolio duration, near the index, was neutral for performance. • Yield curve positioning, with an emphasis on inte1mediate maturity issues, was slightly positive for perfom1ance as yields fell most in this portion of the yield curve. • An underweight exposure to Treasuries was negative, as the sector rallied strongly during the month. • Exposure to Mortgage-backed securities was negative for relative performance as the sector underperformed Treasuries on a duration-adjusted basis. Page 1 of 3 $385,934,399 $385,928,623 $377,810,436 $378,364,688 2.31 2.38 $8.915.085 0% 17% AAA 1 % No* Portfolio Index 1.62 1.59 0.34 0.34 4.09 4.55 0.34 0.34 • Corporate issues were positive for performance as the sector continued to perfom1 strongly relative to other bond market sectors; however, an Lmderweight exp·osure relative to the benchmark was negative. *Compliance Issues: MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 30 September 2003) Page 2 of 3 $1,600,000 par of United Airlines (UAL) Pass-TIIrougb 2001-1-C (Enhanced Equipment Trust Certificate (EETQ -909317BC2), 6.831 % coupon, 9/1/2008 maturity. representing 0.4% of the ponfolio l10ldings on a par basis was purchased on 8/10/1001; and subsequently downgraded by Moody's from A3 to B AJ {on 9/18/200 I) and S&P fTom A-to BBB (on 9/20/2001 ). The secucity was fi.ut her downgraded by Moody's from BA I. to BA.1 (on J 2/21/2001) and by S&P from BBB to BB (ou 6/28/02). Following news of the possible bankruptcy filing, the security was further downgraded in August (B3 Moody's, B+ by S&P). On November 29, 2002. S&P further downgraded this issue to B. and sho1t l.y thereafter on December 9. 2002, downgraded the issue one noLch further to B-. On August 7. 2003, S&P downgraded the issue to CCC+. wb1le Moody"s followed suit on August 28. 100J witb a downgrade to CA. The. DimicCs investment policy .requires a minimum ra ting of A1 by Moody'~ or A-by S&P, with at least a BBB rating 1n the event of :i split. On September 24, UAL posted $105 million profit for the month of August and said it continued to gene.rate positi ve cash 0ow in I.he.month and meL the requirement's of its debtor- in-possession financing for the seventh straight month. This followed a comment from the CPO in mid~Septcmber regnrding. UAL·s need to resolve four major issues before filing an updated business plan to the federal government seeking loan guarantees. He commented th.at d1e.re was no spedfic tlmeLable by which UAL planned to file Lhe updated plan · with the Federal Air Transportation Stabilization Board (ATSB), This agency was charged with bandiogouL up 10 $ 10 billion in government-backed loans to worthy airlines. UAL applied fo1 such backing of a $2 billion loan in the summer of.2002, but was rejected late last year prompting it 10 Ille for bankruptcy. The CFO said that the four issues that need to be resolved center on pensions, a contractual agreement with Atlantic Coast Airlines, municipal bond litigation and rejection of aircraft leases under what is known as section 1110 of the bankrup tcy code. Under the agency's mandate. the government can back 90 percent of the private sector loan but Lt1e airline must arrange the other 10 percent on its own. Now, as Chapter 11 process continues to unfold. UAL has begun its search for ex.it financing and intends to apply to the government for the loru1 guarantees to raise cash needed to get out of bankruptcy. The CFO also said UAL may seek to raise more than $2 billion in financing through other means, but declined to specify in what form or through whaL capital markets. After the war -in Iraq and the deadly SARS pummeled airline revenues earlier this year, the CFO commented that the revenue environment has improved significantly, aiding UAL in updating its business plan as part of the Chapter 11 exit strategy. PrMCO cootinu~ to negoti ate with UAL on the Distrkt'sbolillngs and currently lead an ad hoc cotmniuee. This bas been an extremely complicated effo1t due to the complex m1ture of UAL's bankruptcy. These negotiations have required PlMCO's analysts access to non-public infomi.alion and they are now at a point in these workout negotiations where restructuring options are being discussed. Details on the options are non-public information and therefore sharing them results in parties becoming restricted. In light of this extremely complicated bankruptcy, PIMCO will continue to strive to act in the most prudent manner to obtain maximum recovery. 5,000.000 pa.r of Philip Morris-Altria NT (cusip 718154CB8), 4/1 /2004 maturity, representing 1.3% of the portfolio holdings on a par basis was purchased on 8/6/2001 at a price of 105.26. Th.is security was subsequently downgraded by Moody's from A2 to Baal on 4/0 l/2003, and then from Baal to Baa2 on 4/23/03. The security was downgraded by S&P from A-to BBB on 4/10/2003. The District's investment policy requires a minimum rating of A3 by Moody"s or A-by S&P , wirl1 at least a BBB rating in the event of a split. The Philip Morris USAdowng{ade activity was a resull ofa negative comt judgment ond .iLS associated bonding requirement. In tJ1e Miles case. named after the initial plaintiff in the class-action 1awsuit, an Illinois court fined Philip Morris $10.3 billion for allegedly deceiving smokers into thinking tJ1at "lig.b.t" ci,garett;es were safer than regular cigarettes. The compan y, now a subsidiary of Altria, bas snid U1at the-lawsuit was fl awed and tl1ut it planne-tl t'o appeal the ruling and the class certification order that preceded it. Prior to lhe judgment, P[MCO"s analysis of Altria (the holding company and issner of the debt) shows iHvestmenl grade credit metrics even excluding in its entirety Philip Morris USA (the domestic tobacco subsidiruy and the entity subject to all of the legal suits). The analysis was based on the assumption that the horizon of any final verdict would be years in the future, while the company would generated significant cash flow in the interim. MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 30 September 2003) Page 3 of 3 On September 16, the Illinois Supreme Court said it would hear an appeal of the $10.1 billion verdict against Altria and also reinstated an earlier requirement that it post $6.8 billion while it appeals the class action case, rather than the $12 billion as initially required. The development settles months of uncertainty following a significant March decision in Madison County Circuit Court when Judge Nicholas Byron awarded $10.l billion to plaintiffs who claimed Philip Morris USA misled them into believing the company's so called light cigarettes were less harmful than full-flavored cigarettes. PIMCO believes management is unlikely to sacrifice good subsidiaries to fund the bad one, which would create a bad precedent for future court cases. PIMCO has continued to hold their positions at the holding company (Altria) level, but have suspended any additional purchases until greater clarity emerges on the likelihood of various outcomes. Split Rated Securilies Still fn Compliance: The District's investment policy requires a minimum rating of A3 by Moody"s or A-by S&P, with at least a BBB in the event of a split rating. • $4,000,000 par of Ford Motor Credit securities ($3 million represented by cusip 345397SJ3 maturing 7/16/04 and $1 million represented by cusip 345397GV9 maturing 5/15/05), representing 1.0% of the portfolio holdings on a par basis. The securities were downgraded on 10/16/2001 by S&P from A to BBB+; and now carry a Moody's rating of A3 after a further downgrade from A2 on 1/16/2002 and an S&P rating of BBB after a further downgrade from BBB+ on 10/25/2002. • $3,000,000 par of General Motors Acceptance Corp securities (cusip 370425SO3) maturing on August 28, 2007, representing 0.8% of the portfolio holdings on a par basis. The securities were downgraded on 10/16/2001 by S&P from A to BBB+, and a further downgrade to BBB occurring on 10/16/2002. The securities now carry a Moody's rating of A3 after a further downgrade from A2 on 6/14/03. • $3,500,000 par of Virginia Electric Power NT securities (cu.sip 927804EN0), maturing in 2006, represents 0.9% of the portfolio holdings on a par basis. The security was downgraded on 10/21/2002 by S&P from A-to BBB+, but continues to carry a Moody's rating of A3. G:\wp.dta\fi11\220\white\Treasury Mgmt\L-T0S00-03-09.RPT.doc by Asset Type with Sectors Report ID: GL825 l Base Currency: USD Alternate Base Currency: Exchange Rate: [ Asset Summary ~ 2,~ER-PIMCO-OCSF07511102 ___ _ ______ 9/30/2003 _ .. _ .. ,___ Status:FINAL Description CASH&: CASH EQUIVALENTS U.S. DOLLAR INTEREST CERI'IFICATES OF DEPOSIT -DOMESTIC FED HM LOAN BNK -LESS THAN 1 YR FEDERAL HOME LOAN MORrGAGE -LESS THAN 1 FNMA ISSUES -LESS THAN lYR MUTUAL FUNDS TREASURY BILLS -LESS THAN 1 YR U.S. DOLLAR CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES U.S.DOLLAR BANKING & FINANCE INDUSTRIAL U.S. AGENCIES U.S. GOVERNMENTS UTILITY -TELEPHONE U.S. DOLLAR FIXED INCOME SECURITIES TOTAL ASSETS -BASE: Cost Shares Par Base 468,854.70 1,400,000.000 1,400,000.00 6,100,000.000 6,081,765.24 6,200,000.000 6,171,369.67 3.300,000.000 3,288,893.54 175,658.110 175,658.11 1.200, 000.000 1,194,191.67 18,375,658.110 18,780,732.93 18,375,658.110 18,780,732.93 4,950,000.000 5,121,180.00 300.000.000 308,808.00 7,200,000.000 7,441,266.00 5,800,000.000 6,251,984.38 650,000.000 677,046.50 18,900,000.000 19,800,284.88 18,900,000.000 19,800,284.88 37,275,658.110 38,581,017.81 1 Market Value Base 468,854.70 1,400,000.00 6,081. 765.24 6,171,369.67 3,288,893.54 175,658.11 1,194,191.67 18,780,732.93 18,780,732.93 5,036,662.50 302.013.00 7,293,131.32 5,877,952.00 659,646.00 19,169,404.82 19,169,404.82 37,950,137.75 %of Total 1.24% 3.69% 16.03% 16.26% 8.670/4 0.46% 3.15% 49.49% 49.49"/4 13.27% 0.80% 19.22% 15.49% 1.74% 50.51% 50.51% 100.00% Net Unrealized Gain/Loss Base 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 o.oo -84,517.50 -6,795.00 -148,134.68 -374,032.38 -17,400.50 -630,880.06 -630,880.06 -630,880.06 Workbench Asset Summary by Asset Type with Sectors Report ID: GL8251 Base Currency: USD Alternate Base Currency: Exchange Rate: WNG TERM OPER-PIMCO -OCSF~?.!!_~2202 9/30/2003 ______________ _ Status: FINAL Description CASH & CASH EQUIVALENTS U.S. DOLLAR CASH PENDING TRADES INTEREST COMMERCIAL PAPER -DISCOUNT FED HM LOAN BNK -LESS THAN 1 YR FEDERAL HOME LOAN MORfGAGE -LESS THAN 1 FNMA ISSUES -LESS THAN 1 YR MUTUAL FUNDS TREASURY BILLS -LESS THAN 1 YR U.S.DOLLAR CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES U.S. DOLLAR ABS -AIRPLANE RECEIVABLES BANKING & FINANCE COLI.ATERALIZED MORfGAGE OBLIGATION FHLMC MULTICI.ASS FHLMCPOOLS FNMA POOLS GNMA MULTI FAMILY POOLS GNMA SINGLE FAMILY POOLS INDUSTRIAL INFI.ATION INDEXED SECURITIES PVf PIACEMENTS -MORE THN lYR U.S. AGENCIES U.S. GOVERNMENTS UTILI1Y -ELECTRIC UTILI1Y -TELEPHONE U.S. DOLLAR Shares Par 3,400,000.000 32,300,000.000 9,700,000.000 42,800,000.000 143,053.620 4,500,000.000 92,843,053.620 92,843,053.620 1,600,000.000 32,335,000.000 2,504,229.760 1,198,327.690 194,797.030 47.749,442.050 3,718,877.150 11.850,348.080 12,000,000.000 34,241.230.000 752,000.000 41,204.132.880 92,597,276.280 6,500,000.000 6,000,000.000 294,445,660.920 Cost Base -180,169.24 -24,662,805.47 3,332,359.74 3,388,394.44 32,183,468.43 9,672,980.11 42,651,438.17 143,053.62 4.478,218.75 71,006,938.55 71,006,938.55 1,600,900.00 33,468,411.00 2.504,229.76 1,199,604.37 195,424.71 48,990,910.44 3. 700,333.93 12,071,678.59 12,458,780.00 34.258,241. 71 826,199.84 42,280,838.46 100,770,646.50 6,438,210.00 6,594,240.00 307,357,749.31 1 Market Value Base -180,169.24 -24,662,805.47 3,332,359.74 3,388,394.44 32,183,468.43 9,672,980.11 42,651,438.17 143,053.62 4,478,218.75 71,006,938.55 71,006,938.55 244,000.00 34,442,367.45 2,718,717.04 1,246,776.08 200,869.18 49.207,916.28 3,779,028.74 12,432,369.33 12,436,500.00 38,367,363.32 826,199.84 44,547. 779.14 100,926,237.71 6,967,160.00 6,578,400.00 314,921,684.11 %of Total -0.05% -6.39% 0.86% 0.88% 8.34% 2.51% 11.05% 0.04% 1.160/4 18.40% 18.40% 0.060/o 8.92% 0.70% 0.32% 0.05% 12.75% 0.98% 3.22% 3.22% 9.94% 0.21% 11.54% 26.15% 1.81% 1.70% 81.60% Net Unrealized Gain/Loss Base 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -1,356,000.00 973,956.45 214,487.28 47,171.71 5,444.47 217,005.84 78,694.81 360,690.74 -22,280.00 4,109,121.61 0.00 2,266,940.68 155,591.21 528,950.00 -15,840.00 7,563,934.80 Workbench WNG TERM OPER-PIMCO -OCSF07522202 Asset Summary Report-ID; GLS:J21 Base Currency: USD by Asset Type wi. th Sectors Alternate Base Currency: .. Exchange Rate: =9..,_/=3.::::0:.L/-=2=0()3 ____ , __ ,.,_ ___ ______ _ _ Stat~j'JNAL ., Net Unrealized Cost Market Value %of Gain/Loss Description Shares Par Base Base Total Base FIXED INCOME SECURITIES 294 ,445,660.920 307,357,749.31 314,921,684.11 81.60% 7,563,934.80 TOTAL ASSETS -BASE: 387,288,714.540 378,364,687.86 385,928,622.66 100.00% 7,563,934.80 2 Workben .. ch YLDANAL OCSF07511102 DISTRICT: LIQUID OPERATING PAR VALUE SECURITY ID SECURITY DESCRIPTION CASH & CASH EQUIVALENTS soo,000.00 FEDERAL HOME LN BK CONS DISC N 313384NJ4 MAT 10/24/2003 1,5001000.00 FEDERAL HOME LN BKS CONS DISC 313384NPO MAT 10/29/2003 3,100,000.00 FEDERAL HOME LN BKS CONS DISC 313384PL7 MAT 11/19/2003 1,000,000.00 FEDERAL HOME LN BKS CINS DISC 313384UK3 MAT 03/17/2004 2,400,000,00 FEDERAL HOME LN MTG CORP DISC 313396PT4 MAT 11/26/2003 3,800,000.00 FEDERAL HOME LN MTG CORP DISC 313396UZ4 MAT 03/31/2004 l,000,000.00 FEDERAL NATL MTG ASSN DISC 313588PD1 MAT 11/12/2003 2,300,000.00 FEDERAL NATL MTG ASSN DISCOUNT 313588PL3 MAT 11/19/2003 11200,000,00 US TREASURY BILL 912795PK1 DUE 02/12/2004 DD 08/14/2003 1,400,000,00 WELLS FARGO BK NA INSTL C/D 94975UXB8 1,0601 10/23/2003 DD 09/23/03 175,658.11 DREYFUS TREASURY CASH MGMT 996085247 TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES l,000,000,00 ASSOCIATES CORP NORTH AMER 046003KA6 5.8001 04/20/2004 DD 04/20/99 YT'H AT BOOK .ooo .ooo .ooo .ooo .ooo .ooo .ooo .ooo .ooo .000 .ooo .ooo .ooo YIELD ANALYSIS 2003/09/30 CURRENT MOODY MARKET YIELD S-P PRICE .ooo .ooo .ooo .ooo .ooo .ooo .ooo .ooo .ooo 1.060 .n8 .027 5.658 P-1 A-1+ P-1 A-1+ P-1 A-1+ P-1 A-1+ P-1 A-1+ P-1 A-1+ P-1 A-1+ P-1 A-1+ P-1 A-1+ AAA AAA AAl AA- 99.532 99.736 99.788 99,462 99.721 99.422 99.468 99.749 99.516 100.000 100.000 102.515 PAGE RUN DATE RUN TIME TOTAL COST/ MARKET VALUE 497,660.00 497,660.00 1,496,037.71 1,496,037.71 3,093,442.53 3,093,442.53 994,625.00 994,625.00 2,393,314.67 2,393,314.67 3,778,055.00 3,778,055.00 994,677.08 994,677.08 2,294,216.46 2,294,216.46 1,194,191.67 1,194,191.67 1,400,000.00 1,400,000.00 175,658.11 175,658.11 18,311,878.23 18,311,878.23 1,041,290.00 1,025,150.00 1 10/06/03 I 10.31,55 % TYPE % TOTAL 2. 71 1.33 8.16 3.99 16.89 8.25 5.43 2.65 13.06 6.39 20.63 10.08 5.43 2.65 12,52 6,12 6,52 3,19 7.64 3,74 ,95 ,47 100.00 48.86 5 ,34 2 . 74 YLDANAL YIELD ANALYSIS PAGE : 2 OCSF07511102 2003/09/30 RUN DATE I 10/06/03 DISTRICT: LIQUID OPERATING RUN TIME I 10,31.55 -----------------==---====----==-===-=----===============----===-============================--------------------------=----- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY IO SECURITY DESCRIPTION BOOX YIELD S-P PRICE MARKET VALUE I TOTAL -----------------------------------------··------------------------------------------------------ 650,000.00 BELL ATLANTIC-NEW JERSEY INC .ooo 5,789 AAJ 101.484 677,046.50 3.44 077858AA6 5.8751 02/01/2004 OD 02/01/94 A+ 659,646.00 1.76 300,000.00 COLGATE PALMOLIVE MTN TR 00058 .ooo 5.235 AA3 100.671 308,808.00 1.57 19416QCX4 5,2701 12/01/2003 OD 11/24/98 AA-302,013.00 .Bl 1,350,000.00 FEDERAL FARM CR BXS CONS SYSTE .ooo 5.330 AAA 101.316 1,399,963.50 7.13 31331H6G7 6.401 01/23/2004 DD 01/01/1999 AAA 1,367,760.06 3,65 550,000.00 FEDERAL FARM CR BXS CONS MTN .ooo 4.998 AAA 100.032 565,229.50 2.87 31331RC78 5.0001 10/02/2003 DD 10/02/98 AAA 550,178.42 1.47 1,100,000.00 FEDERAL HOME LN MTG CORP DEB .ooo 3,701 AAA 101.323 1,125,905.00 5,81 3134A4PB1 3,7501 04/15/2004 DD 04/15/02 AAA 1,114,558.28 2,97 4,200,000.00 FEDERAL NATL MTG ASSN DEBS .ooo 5 .052 AAA 101.444 4,350,168.00 22.22 31359MEM1 5,1251 02/13/2004 DD 02/08/99 AAA 4,260,634,56 11.37 1,000,000.00 GENERAL ELEC CAP MTN fTR 00545 .ooo 1.239 AAA 100.062 1,001,089.00 5.21 36962GYS7 VAR RT 05/20/2004 DD 05/20/02 AAA 1,000,620.00 2,67 1,000,000.00 LEHMAN BROS HLDGS INC .ooo 6,453 A2 102. 671 1,045,590.00 5,35 52490BBZ2 6.6251 04/01/2004 OD 03/26/99 A 1,026,710.00 2. 74 500,000.00 PAINE WEBBER GROUP INC NTS .ooo 6.396 AA2 100.843 519,405.00 2.63 695629CE3 6.4501 12/01/2003 DD 12/01/98 AA+ 504,215~00 1.35 1,000,000.00 US BANCORP MTN tTR 00119 .ooo 5.835 AA3 102,828 1,046,310.00 5.36 91159HEY2 6,0001 05/15/2004 OD 05/10/99 A+ 1,028,280.00 2,74 5,800,000.00 US TREASURY BONDS .ooo 11.718 AAA 101. 344 6,251,984.38 30,66 912810DGO 11.8751 11/15/2003 DD 10/05/83 AAA 5,877,952.00 15,68 YLDANAL OCSF07511102 DISTRICT: LIQUID OPERATING YIELD ANALYSIS 2003/09/30 PAGE RUN DATE RUN TIME 3 I 10/06/03 I 10.31.55 ==== ----==-================================================================= PAR VALUE SECURITY ID SECURITY DESCRIPTION 450,000.00 WELLS FARGO & CO SUBNT 949740BY9 6.125% 11/01/2003 DD 11/01/93 TOTAL FIXED INCOME SECURITIES TOTAL YTM AT BOOK 1 .615 .007 .003 CURRENT MOODY HARXET YIELD S-P PRICE 6,102 AA2 100,375 A 5,725 2.801 TOTAL COST/ HARXET VALUE 467,496.00 451,687,50 19,800,284.88 19,169,404,82 38,112,163,11 37,481,283.05 % TYPE I TOTAL 2,35 1.21 100.00 51.16 100.00 100.00 YLDANAL YIELD ANALYSIS PAGE : 4 OCSF07522202 2003/09/30 RUN DATE 10/06/03 DISTRICT: LONG-TERM OPERATING RUN TIME 10.31.55 =============================================================================================-------------:----------------== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE I TOTAL ------------------------------------------------------------------------------------------------ CASH & CASH EQUIVALENTS 4,400,000.00 FEDERAL HOME LN BK CONS DISC N .ooo .ooo P-1 99. 761 4,389,473.00 4. 74 313384MUO HAT 10/10/2003 A-1+ 4,389,473.00 1.08 12,000,000.00 FEDERAL HOME LN BKS CONS DISC .ooo .000 P-1 99. 747 ll,969,666,67 12,93 313384MZ9 HAT 10/15/2003 A-1+ ll,969,666.67 2,94 3,800,000.00 FEDERAL HOME LN BK CONS DISC N .ooo .000 P-1 99,740 3,790, us.ea 4,09 313384NJ4 HAT 10/24/2003 A-1+ 3,790,llS,88 ,93 2,000,000.00 FEDERAL HOME LN BK CONS DISC N .ooo ,000 P-1 99,433 1,988,663.33 2,14 313384NY1 HAT 11/07/2003 A-1+ 1,988,663.33 .49 3,400,000.00 FEDERAL HOME LN BKS CINS DISC .ooo .ooo P-1 99,460 3,381,623.47 3,65 313384UK3 HAT 03/17/2004 A-1+ 3,381,623.47 ,83 6,700,000.00 FEDERAL HOME LN BKS CONS DISC .ooo .ooo P-1 99,462 6,663,926,08 7 ,20 313384UM9 MAT 03/19/2004 A-1+ 6,663,926.08 1.64 9,700,000.00 FEDERAL HOME LN MTG CORP DISC .ooo .ooo P-1 99,721 9,672,980.11 10,45 313396PT4 MAT 11/26/2003 A-1+ 9,672,980.11 2.37 13,700,000.00 FEDERAL NATL MTG ASSN DISCOUNT .ooo ,000 P-1 99.745 13,665,023.14 14,77 313588MZ5 HAT 10/15/2003 A-1+ 13,665,023.14 3.35 11,300,000,00 FEDERAL NATL MTG ASSN DISCOUNT • 000 .ooo P-1 99,733 11,269,873.65 12,18 313588PL3 HAT 11/19/2003 A-1+ ll,269,873.65 2, 77 200,000.00 FEDERAL NATL MTG ASSN DISC .ooo .ooo P-1 99,637 199,274,00 .21 313588QA6 A-1+ 199,274.00 .OS eoo,000.00 FEDERAL NATL MTG ASSN DISCOUNT .ooo .ooo P-1 99,663 797,301.63 .86 313588QN8 HAT 12/15/2003 A-1+ 797,301.63 .20 200,000.00 FEDERAL NATL MTG ASSN DISC NT • 000 .ooo P-1 99.553 199,106.00 .21 31358BTF2 A-1+ 199,106.00 .os 9,500,ooo.oo FEDERAL NATL MTG ASSN DISCOUNT .000 .ooo P-1 99.553 9,457,535.00 10.22 313588TG0 MAT 02/19/2004 A-1+ 9,457,535.00 2,32 s00,000.00 FEDERAL NATL MTG ASSN DISCUNT .ooo .ooo P-1 99,550 497,750.00 .53 313588TL9 HAT 02/23/2004 A-1+ 497,750.00 .12 YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING YIELD ANALYSIS 2003/09/30 =========-=====-=----=-==========-=========-----========------ PAR VALUE SECURITY ID SECURITY DESCRIPTION 1,000,000.00 FEDERAL NATL MTG ASSN DISCOUNT 313588TM7 MAT 02/24/2004 1,800,000.00 FEDERAL NATL MTG ASSN DISCOUNT 313588TN5 MAT 02/25/2004 3 1 000 1 000.00 FEDERAL NATL MTG ASSN DISC 313588UK9 600,000.00 GENERAL ELEC CAP DISC 36959JYC1 11/12/2003 2,eoo,000.00 GENERAL ELEC CAP DISC 36959JZA4 12/10/2003 4,500,000.00 US TREASURY BILL 912795PK1 DUE 02/12/2004 DD 08/14/2003 143,053.62 DREYFUS TREASURY CASH MGMT 996085247 TOTAL CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES 752,000.00 AIG SUNAMERICA GLOBAL REGS U00907AAO 5,850% 08/01/2008 DD 08/08/01 23,0001000.00 COMMIT TO PUR FNMA SF MTG 01F0504Al 5.000% 10/01/2018 DD 10/01/03 1,500,000.00 COMMIT TO PUR FNMA SF MTG 01F0606A8 6.000% 10/01/2033 DD 10/01/03 900 1 000.00 BEAR STEARNS MTN I TR 00459 073928VC4 VAR RT 12/01/2003 DD 08/17/01 1,500,000.00 CIT GROUP INC NEW SR NT l25581ADO 5.500% 11/30/2007 DD 12/02/02 YTH AT CURRENT MOODY MARKET BOOK YIELD S-P PRICE .ooo .ooo P-1 99,556 A-1+ .000 ,000 P-1 99.441 A-1+ .000 ,000 P-1 99,454 A-1+ .000 .000 P-1 99.662 .000 ,000 P-1 99,658 .000 ,000 P-1 99.516 A-1+ .000 ,798 AAA 100,000 AAA .ooo .ooo .000 5 .325 .ooo 4.881 .ooo 5.814 .ooo 1.419 • 000 5.074 AAA AAA AAA AAA A2 A A2 A 109.867 102.438 103,203 100.062 108,406 PAGE RUN DATE RUH TIME 5 10/06/03 i 10.31.55 ========================== TOTAL COST/ MARKET VALUE 1,792,008.00 1,792,008.00 1,789,946.75 1,789,946.75 2,983,620.00 2,983,620.00 597,974.33 597,974.33 2,790,420.11 2,790,420.11 4,478,218.75 4,478,218.75 143,053.62 143,053.62 92,517,553.52 92,517,553.52 826,199.84 826,199.84 23,331,250.00 23,560,625.00 1,534,375.00 1,548,046.80 899,406.00 900,558.00 1,527,135.00 1,626,090.00 % TYPE I TOTAL 1.93 .44 1.93 ,44 3.22 .73 .64 .15 3.01 .68 4,84 1.10 .15 ,04 100.00 22,72 .26 ,20 7.48 5,78 ,49 ,38 ,28 .22 .51 .40 YLDANAL YIELD ANALYSIS PAGE 6 OCSF07522202 2003/09/30 RUN DATE 10/06/03 DISTRICT: LONG-TERM OPERATING RUN TIME 10.31.55 ::::::=-~~-======:=.=-==-=.==-·-===· ·==--~=....----:.=== ---- PAR VALUE YT'M AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARl(ET VALUE I TOTAL -------------------------------------------------------·----·---·-------------------------------------- 5,ooo,ooo.oo CITIGROUP INC GLOBAL SUB NT .ooo 5.240 AA2 107.343 5,333,600.00 1.70 172967BP5 5.6251 08/27/2012 DD 08/26/02 A+ 5,367,150.00 1.32 108,193.21 FHLMC GROUP IG4-0353 ,000 7.327 AAA 102.361 110,931.86 .03 3128DBMA2 7.5001 10/01/2004 DD 03/01/99 AAA 110,747.12 .03 7,500,000.00 FEDERAL HOME LN BK CONS BOS .ooo 6.615 AAA 107 . 713 7,997,625.00 2.56 3133MAUN7 7.1251 02/15/2005 DD 02/08/00 AAA 8,078,509.50 1 .98 86,603.82 FHLMC GROUP 178-6064 .ooo 3.696 AAA 104.062 84,492.85 .02 31348SWZ3 6.384% 01/01/2028 DD 12/01/97 AAA 90,122.06 .02 11,350,000.00 FEDERAL NATL MTG ASSN DEBS .ooo 4.845 AAA 108.363 11,521,271.50 3.90 31359MJX2 5.250% 06/15/2006 DD 06/22/01 AAA 12,299,225,47 3 .02 897,867.52 FNMA POOL 10254510 .ooo 4.871 AAA 102.645 924,803.55 .29 31371KVB4 5.000% 11/01/2017 DD 10/01/02 AAA 921,611.90 .23 187,647.80 FNMA POOL 10254631 .ooo 4.871 AAA 102.645 193,277.24 .06 31371KY47 5.000% 02/01/2018 DD 01/01/03 AAA 192,610.20 .os 168,398.70 FNMA POOL #0254760 .ooo 4.871 AAA 102.645 173,450.66 .os 31371K5V9 5.000% 06/01/2018 DD 05/01/03 AAA 172,852.05 ,04 71,802.84 FNMA POOL 10254866 .ooo 4.871 AAA 102.645 73,956,93 .02 31371LCB3 5.0001 09/01/2018 DD 08/01/03 AAA 73,701.69 .02 245,061.28 FNMA POOL 10323980 .000 5.727 AAA 104.758 255,859.30 .08 31374T2MO 6.0001 04/01/2014 DD 09/01/99 AAA 256,720.83 .06 36,290.11 FNMA POOL 10357328 .ooo 4.877 AAA 102.532 37,378.81 .01 31376J4M8 5,000% 01/01/2018 DD 01/01/03 AAA 37,208.80 .01 84,340.76 FNMA POOL 10456482 .000 5.724 AAA 104.820 88,057.02 .02 31381CCT2 6.000% 02/01/2014 DD 02/01/99 AAA 88,406.25 .02 241,995.39 FNMA POOL 10509649 .ooo 5. 724 AAA 104.820 252,658.31 .08 31383QEWO 6.0001 09/01/2014 DD 09/01/99 AAA 253,660.32 .06 194,825.10 FNMA POOL 10535451 .ooo 5.727 AAA 104.758 203,409.58 .06 31384VZQ8 6.000% 06/01/2015 DD 07/01/00 AAA 204,094.51 .OS 4,267,050.99 FNMA POOL 10535672 .ooo 5.727 AAA 104.758 4,455,067.93 1.41 31384WCH1 6.000% 01/01/2016 DD 12/01/00 AAA 4,470,069.17 1.10 YLDANAL YIELD ANALYSIS PAGE 7 OCSF07522202 2003/09/30 RUN DATE 10/06/03 DISTRICT: LONG-TERM OPERATING RUH TIME I 10.31.55 -----------------------------------------------------------------------===--=====-=---------==========================------- PAR VALUE Y'.1."M AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL --------------------------------------------------------------------------------------·---------- 1,440,144 .82 FNMA POOL 10545296 ,000 5,738 AAA 104.570 1,503,601.19 .47 31385HXZO 6.0001 11/01/2016 DD 10/01/01 AAA 1,505,963.90 .37 119,286.93 FNMA POOL 10545580 .000 5 ,734 AAA 104.633 124,543.01 .03 31385JCR7 6,000% 03/01/2017 DD 03/01/02 AAA 124,813.27 .03 230,876,56 FNMA POOL 10545998 .ooo 5.823 AAA 103.039 240,111.62 .01 31385JRT7 6.0001 11/01/2032 DD 10/01/02 AAA 237,892.14 .06 205,828.73 FNMA POOL 10555101 ,000 5 .738 AAA 104.570 214,898.05 .06 31385WU23 6.0001 10/01/2017 DD 11/01/02 AAA 215,235.74 .os 914,332.ll FNMA POOL 10555285 .ooo 5.803 AAA 103.395 950,905.40 .30 31385W2S7 6.0001 03/01/2033 DD 02/01/03 AAA 945,369.39 ,23 403,365.36 FNMA POOL 10555363 .ooo 4.871 AAA 102.645 415,466.32 , 13 3138SWSY1 S.0001 04/01/2018 DD 03/01/03 AAA 414,032.48 ,10 902,305.29 FNMA POOL 10555528 .ooo S.803 AAA 103.395 938,397.51 ,29 3138SX095 6.0001 04/01/2033 DO 05/01/03 AAA 932,934.31 ,23 339,493.05 FNMA POOL 10555545 .ooo 4.871 AAA 102.645 349,677.84 ,ll 3138SXES2 5.000% 06/01/2018 DO 05/01/03 AAA 348,471.05 ,09 905, 629 .• 54 FNMA POOL 10555640 .ooo S.803 AAA 103.395 941,854.72 .29 3138SXHR1 6.000% 07/01/2033 DD 06/01/03 AAA 936,371.41 .23 79,020.96 FNMA POOL 10576386 .ooo 5.768 AAA 104.028 82,502.82 .02 31386XJ72 6.000% 05/01/2016 DD 05/01/01 AAA 82,203.86 .02 224,094.92 FNMA POOL 10576739 .ooo S.734 AAA 104.633 233,969.10 ,07 31386XV86 6.000% 04/01/2016 DD 04/01/01 AAA 234,476.81 .06 264,776.77 FNMA POOL 10580888 ,000 5,734 AAA 104.633 276,443.49 ,08 313870J91 6.000% 05/01/2016 DD 05/01/01 AAA 277,043.37 ,07 210,597.71 FNMA POOL 10594002 .ooo 5.734 AAA 104.633 219,877.17 .06 31387T3K8 6.000% 07/01/2016 DD 07/01/01 AAA 220,354.30 .OS 268,419.45 FNMA POOL 10597376 ,000 5,738 AAA 104.570 280,246.68 .08 31387XT96 6,0001 09/01/2016 DD 08/01/01 AAA 280,687.05 .07 202,673.50 FNMA POOL 10605259 .000 5 ,738 AAA 104.570 2ll,603.80 ,06 31388HMG1 6.000% 09/01/2016 DD 09/01/01 AAA 211,936.31 .OS YLDANAL YIELD ANALYSIS PAGE : 8 OCSF07522202 2003/09/30 RUH DATE I 10/06/03 DISTRICT! LONG-TERM OPERATING RUH TIME : 10.31.55 ~::::i=====-===-====:~.----=-==:::::=:::===-=----===--·----====--=-====:~-==-====~==-=-----==--=.:=. -== =cn:s=. PAR VALUE YTIM AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOR YIELD S-P PRICE MARKET VALUE I TOTAL -------------------------------------------------------------------------------------------------- 151,460.24 FNMA POOL 10608366 .ooo 5.734 AAA 104,633 158,133.95 .05 31388LZ78 6.0001 10/01/2016 DD 09/01/01 AAA 158,477.11 .04 172,684.62 FNMA POOL 10616734 .ooo 5. 734 AAA 104,633 180,293.53 .05 31388WEF9 6.0001 12/01/2016 DD 12/01/01 AAA 180,684.77 .04 216,112.72 FNMA POOL 10630812 .ooo 5.763 AAA 104 .111 225,635.18 .07 31389NYH2 6.0001 02/01/2017 DD 02/01/02 AAA 224,997.07 .06 971,978.16 FNMA POOL 10632376 ,000 5.730 AAA 104,720 1,014,805.96 ,32 31389QQ50 6.0001 07/01/2017 DD 07/01/02 AAA 1,017,858.54 ,25 557,031.83 FNMA POOL #0653116 .ooo 5,730 AAA 104.720 581,576.05 .18 31390QSD8 6,0001 07/01/2017 DD 07/01/02 AAA 583,325.46 .14 242,834.96 FNMA POOL #0673280 .ooo 5.738 AAA 104.570 253,534.87 ,08 3f391P6R2 6,0001 08/01/2017 DD 11/01/02 AAA 253,933.27 .06 609,214.14 FNMA POOL f0681309 .ooo 4.871 AAA 102.645 627,490.56 .19 31391Y3S4 5,0001 02/01/2018 DD 02/01/03 AAA 625,324.99 ,15 76,565.99 FNMA POOL #0681334 .ooo 4.871 AAA 102.645 78,862,97 .02 31391Y4Tl 5,0001 02/01/2018 DD 01/01/03 AAA 78,590.80 .02 38,763.51 FNMA POOL #0685665 ,000 4.871 AAA 102,645 39,926.42 .01 31400EW22 5,0001 02/01/2018 DD 02/01/03 AAA 39,788.62 .01 330,350.03 FNMA POOL #0686318 .ooo 4.871 AAA 102.645 340,260.53 ,10 31400FPB7 5,0001 03/01/2018 DD 03/01/03 AAA 339,086.24 ,08 131,275,19 FNMA POOL 10688739 .ooo 4,871 AAA 102.645 135,213.44 ,04 31400JEL9 5,0001 06/01/2018 DD 06/01/03 AAA 134,746.80 .03 776,638,16 FNMA POOL #0693834 .ooo 4 .871 AAA 102.645 799,937.30 ,25 31400PY74 5,0001 03/01/2018 DD 03/01/03 AAA 797,176.59 .20 294,023.47 FNMA POOL #0695852 .ooo 4,871 AAA 102,645 302,844.17 ,09 31400SBVO 5,0001 05/01/2018 DD 05/01/03 AAA 301,799.01 ,07 877,339.71 FNMA POOL 10695889 ,000 4,871 AAA 102.645 903,659.90 ,28 31400SC23 5,0001 05/01/2018 DD 05/01/03 AAA 900,541.22 ,22 28,882.46 FNMA POOL 10697026 .ooo 4,871 AAA 102.645 29,748.94 .oo 31400TLF2 5,0001 05/01/2018 DD 04/01/03 AAA 29,646.27 .01 YLDANAL YIELD ANALYSIS PAGE 9 OCSF07522202 2003/09/30 RUN DATE 10/06/03 DISTRICT: LONG-TERM OPERATING RUN TIME 10.31.55 ---------== PAR VALUE YTH AT CURRENT MOODY HARI<ET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE HARRET VALUE I TOTAL ---------------------------------------------------------------------------------------------------- 138,264.69 FNMA POOL 10698939 .000 5,728 AAA 104,745 144,356.98 .04 31400VPY2 6.0001 09/01/2017 DD 03/01/03 AAA 144,825.78 .04 294,427.33 FNMA POOL 10702210 .ooo 4,875 AAA 102.557 303,260.15 .09 31401ADP9 5,0001 05/01/2018 DD 05/01/03 AAA 301,955.29 ,07 84,890.02 FNMA POOL 10703195 .000 5. 714 AAA 105.008 88,630.49 ,02 31401BGC3 6,0001 01/01/2017 DD 04/01/03 AAA 89,141.15 .02 312,665.02 FNMA POOL 10709148 .000 4,871 AAA 102.645 322,044.97 .10 31401HZM7 5 ,0001 06/01/2018 DD 06/01/03 AAA 320,933.54 .08 834,646.06 FNMA POOL 10710235 .ooo 4 .871 AAA 102.645 859,685.45 ,27 31401KBC8 5 ,0001 06/01/2018 DD 06/01/03 AAA 856,718.53 .21 27,298.34 FNMA POOL 10713344 .ooo 4.871 AAA 102,645 28,117,29 .oo 31401NP52 5,0001 06/01/2018 DD 06/01/03 AAA 28,020.25 .01 2,651,557.74 FNMA POOL 10720369 .ooo 4,875 AAA 102.557 2,731,104,47 ,86 31401WJNO 5,0001 06/01/2018 DD 06/01/03 AAA 2,719,353.17 .67 324,411.47 FNMA POOL 10721629 ,000 4.862 AAA 102,832 334,143.82 .10 31401XVW4 5,0001 07/01/2018 DD 06/01/03 AAA 333,598.90 .08 438,461.74 GNMA POOL 10596612 .ooo 6.177 AAA 105.223 460,179.30 .14 36200BYH4 6.5001 09/15/2032 DD 09/01/02 AAA 461,361.11 ,11 1,480,019.82 GNMA POOL 10569358 .000 6,206 AAA 104,735 1,514,707.78 ,49 36200QQK3 6,5001 04/15/2032 DD 04/01/02 AAA 1,550,091.77 .38 64,629.32 GNMA POOL 10569685 .ooo 6,176 AAA 105.254 67,830.49 .02 36200Q2S2 6,5001 02/15/2032 DD 02/01/02 AAA 68,024.89 .02 108,542,02 GNMA POOL 10570019 .ooo 6,177 AAA 105.223 113,918,25 ,03 36200RG48 6,5001 07/15/2032 DD 07/01/02 AAA 114,210.80 ,03 710,211.24 GNMA POOL 10574323 .ooo 6.176 AAA 105.254 745,388.89 ,23 36200WAY7 6,5001 12/15/2031 DD 12/01/01 AAA 747,525.10 .18 70,464.87 GNMA POOL 10575364 .ooo 6.176 AAA 105,254 73,955.08 .02 36200XFD6 6,5001 11/15/2031 DD 11/01/01 AAA 74,167.03 .02 27,102.45 GNMA POOL 10587117 .ooo 6,177 AAA 105,223 28,444.87 .oo 36201MG22 6,5001 06/15/2032 DD 06/01/02 AAA 28,517.92 .01 YLDANAL YIELD ANALYSIS PAGE I 10 OCSF07522202 2003/09/30 RUN DATE 10/06/03 DISTRICT: LONG-TERM OPERATING RUN TIME : 10.31.55 --------------------------------------------------------------------======-===--============================================= PAR VALUE YTH AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE I TOTAL ---------------------------------·-----------------------------------------~ --------·-----------·--- 80,817.68 GNHA POOL 10587439 .ooo 6.177 AAA 105.223 84,820.68 .02 36201HS45 6.5001 11/15/2032 DD 12/01/02 AAA 85,038.51 .02 18,104.46 GNHA POOL 10421389 .000 6.159 AAA 105.535 19,001.20 .oo 36206UC23 6,5001 04/15/2026 DD 04/01/96 AAA 19,106.57 .oo 27,092.30 GNHA POOL 10449851 .ooo 6,202 AAA 104.797 28,434.22 .oo 36208FWLO 6.5001 01/15/2028 DD 01/01/98 AAA 28,391.85 ,01 89,231.28 GNMA POOL 10466845 .000 6,163 AAA 105.473 93,651.02 .02 36209BTA6 6.5001 06/15/2028 DD 06/01/98 AAA 94,114.60 .02 677,509.66 GNMA POOL 10468052 .ooo 6,163 AAA 105,473 711,067.56 .22 36209C5H4 6.5001 07/15/2028 DD 07/01/98 AAA 714,587.46 .18 262,214.03 GNHA POOL 10476041 .ooo 6,163 AAA 105,473 274,792.11 .08 36209HZE7 6.5001 06/15/2028 DD 06/01/98 AAA 276,564.11 .07 217,313.68 GNMA POOL 10478626 .000 6,168 AAA 105.379 227,737.95 .07 36209QVT9 6.5001 01/15/2029 DD 01/01/99 AAA 229,002,79 ,06 249,614,15 GNHA POOL 10480598 .000 6,168 AAA 105.379 261,587.84 .08 36209S3F6 6,5001 10/15/2028 DD 10/01/98 AAA 263,040,67 .06 558,777,46 GNMA POOL 10485527 ,000 6.176 AAA 105,254 586,454.41 .18 36209YLG1 6,5001 06/15/2031 DD 06/01/01 AAA 588,135,12 .14 633,585.27 GNMA POOL 10485610 .ooo 6,176 AAA 105.254 664,967.54 ,21 36209YN38 6.5001 07/15/2031 DD 07/01/01 AAA 666,873.27 .16 133,203,96 GNHA POOL #0485682 .ooo 6,176 AAA 105,254 139,801.72 ,04 36209YRB6 6,5001 08/15/2031 DD 08/01/01 AAA 140,202.38 .03 140,291.53 GNMA POOL 10485703 .ooo 6,176 AAA 105.254 147,240.35 .04 36209YRY6 6,5001 08/15/2031 DD 08/01/01 AAA 147,662.32 ,04 16,446,65 GNMA POOL #0512235 .000 6,172 AAA 105.316 17,261.27 .oo 36211GBC6 6.5001 11/15/2029 DD 11/01/99 AAA 17,321.02 .oo 244,244.12 GNMA POOL 10514326 ,000 6,168 AAA 105.379 255,960,20 .08 36211JLF2 6.5001 07/15/2029 DD 07/01/99 AAA 257,381.79 .06 67,280,20 GNHA POOL 10530053 .ooo 6.209 AAA 104,682 70,612,68 ,02 36212CZS3 6.5001 04/15/2031 DD 04/01/01 AAA 70,430.04 .02 YLDANAL YIELD ANALYSIS PAGE 11 OCSF07522202 2003/09/30 RUN DATE 10/06/03 DISTRICT: LONG-TERM OPERATING RUN TIME 10.31.55 ===-----===---==-----=====--=====-=====--------==-===--------=--====---===========================------===----=------------= PAR VALUE YTM AT CURRENT MOODY HARJ<ET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE I TOTAL ---------------------------------------------------------------------·----------------------- 69,192.13 GNHA POOL 10530290 .ooo 6.176 AAA 105.254 72,511.20 .02 36212DC31 6.500% 03/15/2031 DD 04/01/01 AAA 72,827.42 .02 135,383.08 GNMA POOL 10537885 .ooo 6.176 AAA 105.254 142,088.77 ,04 36212MRE1 6.5001 02/15/2031 DD 02/01/01 AAA 142,495.99 ,03 16,205.48 GNMA POOL 10547512 • 000 6.176 AAA 105.254 17,008.16 .oo 36212YGV9 6.500% 04/15/2031 DD 04/01/01 AAA 17,056.90 .oo 128,829.58 GNMA POOL 10547715 ,000 6.176 AAA 105.254 135,009.37 .04 36212YN82 6.500% 02/15/2031 DD 02/01/01 AAA 135,598.17 .OJ 91,658.21 GNMA POOL 10552322 .ooo 6 .176 AAA 105.254 96,198.16 .OJ 36213ESK3 6.5001 01/15/2032 DD 01/01/02 AAA 96,473.85 .02 727,214.83 GNMA POOL 10552466 .ooo 6.206 AAA 104.735 763,234.69 .24 36213EW36 6.500% 03/15/2032 DD 03/01/02 AAA 761,645.02 .19 555,614.68 GNMA POOL 10552659 .ooo 6.177 AAA 105.223 583,134.96 ,18 36213E5U6 6.500% 07/15/2032 DD 07/01/02 AAA 584,632.55 ,14 569,397.17 GNMA POOL 10561017 .ooo 6.176 AAA 105.254 597,600.13 • 19 36213QG29 6.500% 07/15/2031 DD 07/01/01 AAA 599,312.78 ,15 306,886.75 GNHA II POOL 10080395 .ooo 3.447 AAA 101.524 304,105.59 .09 36225CNM4 VAR RT 04/20/2030 DD 04/01/00 AAA 311,562.32 .08 2,778,689.78 GNMA II POOL I080408X .ooo 3,449 AAA 101.469 2,750,468.71 .89 36225CN28 6.500% 05/20/2030 DD 05/01/00 AAA 2,819,515.68 ,69 3,000,000.00 GTE NORTH INC DEB SER A .000 5.920 Al 101.359 3,063,750.00 .96 362337AD9 6.0001 01/15/2004 DD 01/15/94 A+ 3,040,770.00 .75 5,ooo,ooo.oo GENERAL ELEC CAP MTN tTR 00575 .ooo 5.188 AAA 105.046 5,203,500.00 1.66 36962GZY3 5.4501 01/15/2013 DD 12/06/02 AAA 5,252,300.00 1.29 3,000,000.00 GENERAL HTRS ACCEP CORP SR NT .ooo 5.793 A3 105.734 3,064,350.00 LOO 370425SD3 6.125% 08/28/2007 DD 08/29/02 BBB 3,172,020.00 .78 J,000,000.00 GOLDMAN SACHS GROUP INC SR NT .ooo 3,987 AA3 103.453 3,030,030.00 ,98 38141GCS1 4.125% 01/15/2008 DD 01/13/03 A+ 3,103,590.00 .76 1,635,000.00 HOUSEHOLD FIN CORP NT .ooo 5. 734 Al 111.187 1,112,020.00 .57 441812JW5 6.375% 10/15/2011 DD 10/23/01 A 1,817,907.45 .45 YLDANAL YIELD ANALYSIS PAGE : 12 OCSF07522202 2003/09/30 RUN DATE 10/06/03 DISTRICT: LONG-TERM OPERATING RUN TIME 1 10.31.55 =-=-====--· ---:=====-=-=-:.:======-=======..::::==-==-==-·--==-=,=-:-·,· .. =---==r~~~-======--====---= = == PAR VALUE YTM AT CURRENT MOODY MARJCET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARI<:ET VALUE I TOTAL --------------------------------------------------------------------------------------------- 3,000,000.00 JP MORGAN CHASE & CO SUB NT .ooo 5.383 A2 106,812 3,127,260.00 1.01 46625HAT7 5,7501 01/02/2013 DD 11/25/02 A 3,204,360.00 .79 3,200,000.00 MORGAN STANLEY NT .ooo 3,592 AA3 100.921 3,195,648.00 1.02 617446HW2 3 ,6251 04/01/2008 DD 03/06/03 A+ 3,229,472.00 .79 3,000,000.00 NATIONAL RURAL UTILS COOP FIN .ooo 6,183 A2 117.265 3,465,480.00 1.11 637432CU7 7,2501 03/01/2012 DD 03/07/02 A 3,517,950.00 .86 s,000,000.00 PHILIP MORRIS COS INC NTS .ooo 7.336 BAA2 102,234 5,263,000.00 1.62 718154CH8 7,5001 04/01/2004 DD 04/01/97 BBB 5,111,100.00 1.25 3,497,276.28 SBA GTD DEV PARTN 2001-20C 1 .000 5.783 AAA 109,640 3,497,276.28 1.21 83162CLJO 6.3401 03/01/2021 AAA 3,834,413.71 ,94 2,504,229.76 SBA GTD PARTN CTFS SBIC-PS 01 .ooo 6,116 AAA 108,565 2,504,229.76 .86 831641DD4 6,6401 02/10/2011 DD 02/21/01 NR 2,718,717.04 .67 1,600,000.00 UNITED AIRLS PASSTHRU 01-1 C .ooo 44,793 CA 15.250 1,600,000.00 .07 909317BC2 6,8311 03/01/2010 DD 08/22/01 A-244,000.00 .06 20,000,000.00 US TREASURY NOTES .ooo 5.510 AAA 113.438 22,620,312.50 7,20 9128272JO 06,2501 02/15/2007 DD 02/15/97 AAA 22,687,500.00 5.57 3,414,810,00 US TREASURY INFLATION INDEX NT .ooo 3,228 AAA 112,281 3,725,779.05 1.21 9128273T7 3,6251 01/15/2008 DD 01/15/98 AAA 3,834,191.35 ,94 14,576,900.00 US TREASURY INFLATION INDEX NT .ooo 3.391 AAA 114,281 16,209,968,79 5.28 9128274Y5 3.8751 01/15/2009 DD 01/15/99 AAA 16,658,699.97 4 .09 51,100,000.00 US TREASURY NOTES .ooo 5,283 AAA 108.844 62,782,901.47 19.73 9128276N7 05,7501 11/15/2005 DD 11/15/00 AAA 62,149,924.00 15,25 12,000,000.00 US TREASURY NT .000 3.183 AAA 102.120 11,870,156,25 3,89 912828BG4 3,2501 08/15/2008 DD 08/15/03 AAA 12,254,400.00 3.01 3,000,000.00 VERIZON GLOBAL FOG CORP GLOBAL .ooo 6.254 A2 117.921 3,530,490.00 1.12 92344GAT3 7.3751 09/01/2012 DD 08/26/02 A+ 3,537,630.00 .87 3,500,000.00 VIRGINIA ELEC & PWR 01 SER A .ooo 5,304 A3 108,406 3,487,680.00 1.20 927804ENO 5,7501 03/31/2006 DD 03/27/01 BBB+ 3,794,210.00 .93 16,249,520,00 US TREASURY INFLATION INDEX NT 3. 817 3,068 AAA 110.000 14,322,493.87 5.67 9128272H3 3,3751 01/15/2007 DD 01/15/97 AAA 17,874,472.00 4.39 YLDANAL YIELD ANALYSIS PAGE : 13 OCSF07522202 2003/09/30 RUN DATE I 10/06/03 DISTRICT: LONG-TERM OPERATING RUH TIME : 10.31.55 -------------------------------------------------------------·-------===--============-=================================------ PAR VALUE YTH AT CURRENT MOODY HARRET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE HARXET VALUE I TOTAL ------------------------·----------------------------------------------------------------------------- 15,500,000.00 FEDERAL NATL MTG ASSN DEBS 5 .967 6.602 AAA 107.918 16,154,410.00 5.31 31359MFH1 7.1251 02/15/2005 OD 02/14/00 AAA 16,727,317,90 4,11 1,198,327.69 FHLMC MULTICLASS MTG SER E3 A 6. 316 3.832 AAA 104,043 1,199,604.37 .39 3133TCE95 VAR RT 08/15/2032 DD 12/01/97 AAA 1,246,776.08 .31 833,712.13 GNMA GTD REMIC TR 2000-9 FB 6. 320 1.610 AAA 100,652 833,712,13 ,26 3837H4NX9 VAR RT 02/16/2030 AAA 839,147.93 .21 9,534.53 GNMA POOL 10500917 6. 389 5.757 AAA 104,223 9,050.35 .oo 36210SPAO 6.0001 04/15/2029 DD 04/01/99 AAA 9,937.14 .oo 40,584.40 GNMA POOL 10506636 6. 389 5.757 AAA 104.223 38,523.47 .01 36210YY90 6,0001 04/15/2029 OD 04/01/99 AAA 42,298.14 .01 407,572.69 GNMA POOL 10503388 6. 389 5.753 AAA 104,285 386,875.64 .13 36210VF55 6.0001 03/15/2029 DD 03/01/99 AAA 425,037.83 .10 12,734.52 GNMA POOL 10499153 6. 389 5.753 AAA 104,285 12,087,84 .oo 36210QQE5 6,0001 02/15/2029 DD 02/01/99 AAA 13,280.21 .oo 474,521.43 GNMA POOL 10496461 6 .390 5.753 AAA 104.285 450,424.63 .15 362lOMQN4 6.0001 01/15/2029 DD 01/01/99 AAA 494,855.43 .12 127,477.80 GNMA POOL 10491103 6 .390 5.753 AAA 104,285 121,004.33 .04 36210FRY4 6.0001 01/15/2029 DD 01/01/99 AAA 132,940.43 .03 13,369.44 GNMA POOL 10486720 6 .390 5.753 AAA 104,285 12,690.53 .oo 36210AVM6 6.0001 12/15/2028 DD 12/01/98 AAA 13,942,34 .oo 27,232,78 GNMA POOL 10497343 6. 390 5,753 AAA 104.285 25,849,87 .oo 36210NP45 6.0001 12/15/2028 DD 12/01/98 AAA 28,399.75 .01 18,066.59 GNMA POOL 10469688 6. 391 5.753 AAA 104.285 17,149,14 .oo 36209EXR8 6,0001 11/15/2028 DD 11/01/98 AAA 18,840.77 .oo 22,978.80 GNMA POOL 10467279 6. 391 5,753 AAA 104,285 21,811.91 .oo 36209CCQ7 6.0001 10/15/2028 DD 10/01/98 AAA 23,963,48 .01 42,651.16 GNMA POOL 10457814 6 .391 5.753 AAA 104,285 40,485.27 .01 36208QSB3 6.0001 10/15/2028 DD 10/01/98 AAA 44,478.83 .01 456,573.97 GNMA POOL 10467286 6,391 5.753 AAA 104,285 433,388.57 .15 36209CCX2 6.0001 10/15/2028 DD 10/01/98 AAA 476,138.90 .12 YLDANAL YIELD ANALYSIS PAGE I 14 OCSF07522202 2003/09/30 RUN DATE I 10/06/03 DISTRICT: LONG-TERM OPERATING RUN TIME I 10.31.55 ------------------------------==-----=-----=----===----==----====--===--================================================-==== PAR VALUE YTH AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE I TOTAL ---------------------------------------------------------------------------------------------------- 569,849.09 GNMA POOL 10465555 6. 392 5.753 AAA 104.285 540,911.46 .18 36209AE48 6.0001 09/15/2028 DD 09/01/98 AAA 594,268.04 .15 15,410.30 GNMA POOL 10483452 6. 392 5,753 AAA 104.285 14,627.75 .oo 36209WBV3 6.0001 09/15/2028 DD 09/01/98 AAA 16,070.66 .oo 507,061.96 GNMA POOL 10465546 6. 392 5,753 AAA 104.285 481,312.72 .16 36209AET3 6.0001 08/15/2028 DD 08/01/98 AAA 528,790.38 .13 443,140.07 GNMA POOL 10468339 6. 392 5,753 AAA 104.285 420,636.88 ,14 36209DHQO 6,0001 08/15/2028 DD 08/01/98 AAA 462,129.33 .11 29,506.10 GNMA POOL 10438057 6. 393 5,753 AAA 104.285 28,007.76 .oo 36207PTN9 6,0001 05/15/2028 DD 05/01/98 AAA 30,770.48 .01 23,429.40 GNMA POOL 10468330 6. 393 5.753 AAA 104.285 22,239.62 .oo 36209DHF4 6,0001 05/15/2028 DD 05/01/98 AAA 24,433.39 .01 2,972,208.22 FHLMC MULTICLASS CTF SER 1620Z 6. 499 5,636 AAA 106.458 2,816,068.28 1.00 3133T17A4 6.0001 11/15/2023 DD 11/01/93 AAA 3,164,153.43 .78 370,815.57 GNMA II POOL fOB0088M 6. 705 4,292 AAA 101.926 378,927.17 .12 36225CC20 7,3751 06/20/2027 DD 06/01/97 AAA 377,958.22 .09 2,000,000.00 MARSH & MCLENNAN COS INC SR NT 6. 717 6.393 A2 103.625 1,992,280.00 .65 571748AB8 6,6251 06/15/2004 DD 06/14/99 AA-2,012,500.00 ,51 3,000,000.00 FORD MTR CR CO GLOBAL LANDMARK 6. 739 6,478 Al 103,421 2,995,080.00 ,98 345397SJ3 6.7001 07/16/2004 DD 07/16/99 BBB 3,102,630.00 ,76 2,500,000.00 COUNTRYWIDE HOME LNS INC NT 6 .866 6.602 Al 103,750 2,498,400.00 .82 22237UAB8 6.8501 06/15/2004 DD 06/24/99 A 2,593,750.00 .64 262,485 .05 GNMA II POOL 10080023 6.992 5,469 AAA 102.860 266,832.46 .08 36225CAZ9 VAR RT 12/20/2026 DD 12/01/96 AAA 269,992.52 .07 2,100,000.00 FEDERAL NATL MTG ASSN DEBS 7,113 5,687 AAA 116,489 2,030,133.00 ,77 31359MEY5 6,6251 09/15/2009 DD 09/01/99 AAA 2,446,261.23 ,60 1,000,000.00 FORD MOTOR CR CO NT 7. 582 6,412 Al 105.265 965,170.00 .33 345397GV9 6.7501 05/15/2005 DD 05/24/93 BBB 1,052,650.00 ,26 948,212.53 WMP/HUNTOON PAIGE f000-11150 7 ,684 7,161 AAA 104. 741 927,618.55 ,31 302998GE3 7,5001 12/01/2030 DD 10/21/99 AAA 993,163.68 ,24 YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING YIELD ANALYSIS 2003/09/30 ==========-===-------=========!--==================-==-==-=·== PAR VALUE SECURITY ID SECURITY DESCRIPTION 3,000,000.00 PACIFICORP SECD MTN tTR 00115 69512EEU5 7.3001 10/22/2004 DD 10/22/92 1,600,000.00 ALLSTATE CORP SR NT 020002AL5 7,8751 05/01/2005 DD 05/01/00 TOTAL FIXED INCOME SECURITIES TOTAL YTM AT BOOK 7. 709 7 .967 -------- • 381 ----------• 357 CURRENT MOODY MARXET YIELD S-P PRICE 6.902 A3 105.765 A 7.183 Al 109.640 A+ ------- 5,168 ---- 4.846 PAGE RUN DATE RUN TIME TOTAL COST/ MARXET VALUE 2,950,530.00 3,172,950.00 1,594,032.00 1,754,240,00 ------------------ 307,357,749,31 314,921,684, 11 -----------------399,875,302.83 407,439,237.63 ====---=---·==---- 15 10/06/03 10,31,55 I TYPE I TOTAL 1.00 .78 ,55 .43 ---------- 100.00 77 .28 --------- 100.00 100.00 - Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSG000l0000 9/30/2003 Status: FINAL .. -" Net Unrealized Price Cost Market Value o/o of Gain/Loss Description Base Shares Par Base Base Total Base U.S. DOLLAR CASH &: CASH EQUIVALENTS CASH -180,169.24 -180,169.24 -0.04% 0.00 PAYABLE FOR INVESTMENTS -24,865,625.00 -24,865,625.00 -5.87% 0.00 PURCHASED INTEREST RECEIVABLE 3,801,214.44 3,801,214.44 0.90% 0.00 RECEIVABLE FOR INVESTMENTS 202,819.53 202,819.53 0.05% 0.00 SOLD FEDERAL HOME LN BK CONS DISC 99.7608 4,400,000.000 4,389,473.00 4,389,473.00 1.04% 0.00 NMAT 10/10/2003SEC ID: 313384MU0 FEDERAL HOME LN BKS CONS 99.7472 12,000,000.000 11,969,666.67 11,969,666.67 2.82% 0.00 DISCMAT 10/15/2003SEC ID: 313384MZ9 FEDERAL HOME LN BK CONS DISC 99.7399 4,300,000.000 4,287,775.88 4,287,775.88 1.01% 0.00 NMAT 10/24/2003SEC ID: 313384NJ4 FEDERAL HOME LN BKS CONS 99.7358 1,500,000.000 1,496,037.71 1,496,037.71 0.35% 0.00 DISCMAT 10/29/2003SEC ID: 313384NP0 FEDERAL HOME LN BK CONS DISC 99.4332 2,000,000.000 1,988,663.33 1,988,663.33 0.47% 0.00 NMAT 11/07 /2003SEC ID: 313384NY1 FEDERAL HOME LN BKS CONS 99.7885 3,100,000.000 3,093,442.53 3,093,442.53 0.73% 0.00 DISCMAT ll/19/2003SEC ID: 313384PL7 FEDERAL HOME LN BKS CINS 99.4625 4,400,000.000 4,376,248.47 4,376,248.47 1.03% 0.00 DISCMAT 03/ 17 /2004SEC ID: 313384UK3 FEDERAL HOME LN BKS CONS 99.4616 6,700,000.000 6,663,926.08 6,663,926.08 1.57% 0.00 DISCMAT 03/19/2004SEC ID: 313384UM9 FEDERAL HOME LN MTG CORP 99.7214 12,100,000.000 12,066,294.78 12,066,294.78 2.85% 0.00 DISCMAT ll/26/2003SEC ID: 313396PT4 FEDERAL HOME LN MTG CORP 99.4225 3,800,000.000 3,778,055.00 3,778,055.00 o.8go/4 0.00 DISCMAT 03/31/2004SEC ID: 313396UZ4 1 Workbench Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED-OCSG000l0000 --~/30/2003 Status: FINAL -------- Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base FEDERAL NATL MTG ASSN 99.7447 13,700,000.000 13,665,023.14 13,665,023.14 3.22% 0.00 DISCOUNTMAT 10/15/2003SEC ID: 313588MZ5 FEDERAL NATL MTG ASSN DISCMAT 99.4677 1,000,000.000 994,677.08 994,677.08 0.23% 0.00 ll/12/2003SECID:313588PD1 FEDERAL NATL MTG ASSN 99.7485 13,600,000.000 13,564,090.11 13,564,090.11 3.20% 0.00 DISCOUNTMAT 11 / 19 /2003SEC ID:313588PL3 FEDERAL NATL MTG ASSN DISCSEC 99.6370 200,000.000 199,274.00 199,274.00 0.05% 0.00 ID: 313588QA6 FEDERAL NATL MTG ASSN 99.6627 800,000.000 797,301.63 797,301.63 0.19% 0.00 DISCOUNTMAT 12/15/2003SEC ID: 313588QN8 FEDERAL NATL MTG ASSN DISC 99.5530 200,000.000 199,106.00 199,106.00 0.05% 0.00 NTSECID:313588TF2 FEDERAL NATL MTG ASSN 99.5530 9,500,000.000 9,457,535.00 9,457,535.00 2.23% 0.00 DISCOUNTMAT 02/ 19 /2004SEC ID: 313588TG0 FEDERAL NATL MTG ASSN 99.5500 500,000.000 497,750.00 497,750.00 0.12% 0.00 DISCUNTMAT 02/23/2004SEC ID: 313588TL9 FEDERAL NATL MTG ASSN 99.5560 1,800,000.000 1,792,008.00 1,792,008.00 0.42% 0.00 DISCOUNTMAT 02/24/2004SEC ID:313588TM7 FEDERAL NATL MTG ASSN 99.4415 1,800,000.000 1,789.946.75 1,789.946.75 0.42% 0.00 DISCOUNTMAT 02/25/2004SEC ID: 313588TN5 FEDERAL NATL MTG ASSN DISCSEC 99.4540 3,000,000.000 2,983,620.00 2,983,620.00 0.70%1 0.00 ID: 313588UK9 GENERAL ELEC CAP 99.6624 600,000.000 597.974.33 597,974.33 0.14% 0.00 DISC11/12/2003SEC ID: 36959.JYCl GENERAL ELEC CAP 99.6579 2,800,000.000 2,790,420.11 2,790,420.11 0.66% 0.00 DISC12/10/2003SEC ID: 36959JZA4 US TREASURY BILLDUE 99.5160 5,700,000.000 5,672,410.42 5,672,410.42 1.34% 0.00 02/12/2004 DD 08/14/2003SEC ID: 912795PK1 2 Worlcbenc.'1 Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSG000l0000 9/30/2003 Status: FINAL -" . .. Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base WELLS FARGO BK NA INSTL C/D 1. 100.0000 1,400,000.000 1,400,000.00 1.400,000.00 0.33% 0.00 060% 10/23/2003 DD 09/23/03SECID:94975UXB8 DREYFUS TREASURY CASH 100.0000 318,711.730 318,711.73 318,711.73 0.08% 0.00 MGMTSEC ID: 99608524 7 TOTAL CASH&: CASH EQUIVALENTS 111,218,711.730 89,787,671.48 89,787,671.48 21.18% o.oo FIXED INCOME SECURITIES AlG SUNAMERICA GLOBAL REG S 5. 109.8670 752,000.000 826,199.84 826,199.84 0.19% 0.00 8500/4 08/01/2008 DD 08/08/01SECID:U00907M0 COMMIT TO PUR FNMA SF MTG 5. 102.4375 23,000,000.000 23,331,250.00 23,560,625.00 5.56% 229,375.00 000% 10/01/2018 DD 10/0l/03SECID:01F0504Al COMMIT TO PUR FNMA SF MTG 6. 103.2031 1.500,000.000 1.534,375.00 1,548.046.80 0.37% 13,671.80 0000/4 10/01/2033 DD 10/0l/03SECID:01F0606A8 ALLSTATE CORP SR NT7.875% 109.6400 1,600,000.000 1,594,032.00 1,754,240.00 0.41% 160,208.00 05/01/2005 DD 05/01/00SEC ID: 020002AL5 ASSOCIATES CORP NORTH AMER5. 102.5150 1,000,000.000 1,041,290.00 1,025,150.00 0.24% -16,140.00 8000/o 04/20/2004 DD 04/20/99SECID:046003KA6 BEAR STEARNS MTN # TR 100.0620 900,000.000 899,406.00 900,558.00 0.21% 1,152.00 00459VARRT 12/01/2003 DD 08/17/01SECID:073928VC4 BELL ATLANTIC-NEW JERSEY INC5. 101.4840 650,000.000 677,046.50 659,646.00 0.16% -17,400.50 875% 02/01/2004 DD 02/0l/94SECID:077858M6 CIT GROUP INC NEW SR NT 5.5000/o 108.4060 1,500,000.000 1,527,135.00 1,626,090.00 0.38% 98,955.00 11/30/2007 DD 12/02/02SEC ID: 125581AD0 CITIGROUP INC GLOBAL SUB NT5. 107.3430 5,000.000.000 5,333,600.00 5,367,150.00 1.27% 33,550.00 625% 08/27/2012 DD 08/26/02SECID: 172967BP5 COLGATE PALMOLIVE MTN TR 100.6710 300,000.000 308,808.00 302,013.00 0.07% -6,795.00 000585.2700/o 12/01/2003 DD l l/24/98SEC ID: 19416QCK4 COUNTRYWIDE HOME LNS INC NT6. 103.7500 2,500,000.000 2,498,400.00 2,593,750.00 0.61% 95,350.00 8500/o 06/15/2004 DD 06/24/99SECID:22237UAB8 3 Workbench --- Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSGOO0IOOOO 9/30/2003 Status: FINAL .. ..... .. - Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base WMP /HUNTOON PAIGE #000-104.7406 948,212.530 927,618.55 993,163.68 0.23% 65,545.13 111507.500% 12/01/2030 DD 10/21/99SECID:302998GE3 FHLMC GROUP #G4-0353 7.500% 102.3605 108,193.210 110,931.86 110,747.12 0.03% -184.74 10/01/2004 DD 03/0l/99SEC ID: 3128DBMA2 FEDERAL HOME LN BK CONS BDS7. 107.7135 7,500,000.000 7,997.625.00 8,078,509.50 1.91% 80,884.50 125% 02/15/2005 DD 02/08/00SECID:3133MAUN7 FHLMC MULTICLASS MTG SER E3 104.0430 1. 198,327.690 1,199,604.37 1,246,776.08 0.29% 47,171.71 AVAR RT 08/15/2032 DD 12/0l/97SECID:3133TCE95 FHLMC MULTICLASS CTF SER 106.4580 2,972,208.220 2,816,068.28 3,164,153.43 0.75% 348,085.15 162026.000%> 11/15/2023 DD ll/0l/93SECID:3133Tl7A4 FEDERAL FARM CR BKS CONS 101.3156 1,350,000.000 1,399,963.50 1,367,760.06 0.32% -32,203.44 SYSTE6.40% 01/23/2004 DD 0l/0l/1999SECID:31331H6G7 FEDERAL FARM CR BKS CONS MTN 100.0324 550,000.000 565,229.50 550,178.42 0.13% -15,051.08 5.000% 10/02/2003 DD 10/02/98SECID:31331RC78 FEDERAL HOME LN MTG CORP DEB 101.3235 1,100,000.000 1,125,905.00 1,114,558.28 0.26% -11,346.72 3.750% 04/15/2004 DD 04/15/02SECID:3134A4PH1 FHLMC GROUP #78-6064 6.384% 104.0625 86,603.820 84,492.85 90,122.06 0.02% 5,629.21 01/01/2028 DD 12/0l/97SEC ID: 31348SWZ3 FEDERAL NATL MTG ASSN DEBS5. 101.4437 4,200,000.000 4,350,168.00 4,260,634.56 1.01% -89,533.44 125% 02/13/2004 DD 02/08/99SEC ID: 31359MEM1 FEDERAL NATL MTG ASSN DEBS6. 116.4886 2,100,000.000 2,030,133.00 2,446,261.23 0.58% 416,128.23 625% 09/15/2009 DD 09/0l/99SEC ID: 31359MEY5 FEDERAL NATL MTG ASSN DEBS?. 107.9182 15,500,000.000 16,154,410.00 16,727,317.90 3.95% 572,907.90 125% 02/15/2005 DD 02/14/00SEC ID: 31359MFH1 FEDERAL NATL MTG ASSN DEBS5. 108.3632 11,350,000.000 11,521,271.50 12,299,225.47 2.90% 777,953.97 250% 06/15/2006 DD 06/22/01SECID:31359MJX2 4 J,Vorlcbench Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSG000I0000 9/30/2003 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base FNMA POOL #0254510 5.000% 102.6445 897,867.520 924,803.55 921,611.90 0.22% -3, 191.65 11/01/2017 DD 10/0l/02SEC ID: 31371KVB4 FNMA POOL #0254631 5.0000/4 102.6445 187.647.800 193,277.24 192,610.20 0.05% -667.04 02/01/2018 DD Ol/Ol/03SEC ID: 31371KY47 FNMA POOL #0254760 5.0000/o 102.6445 168,398.700 173,450.66 172.852.05 0.04% -598.61 06/01/2018 DD 05/0l/03SEC ID: 31371K5V9 FNMA POOL #0254866 5.0000/o 102.6445 71,802.840 73,956.93 73,701.69 0.02% -255.24 09/01/2018 DD 08/01/03SEC ID: 31371LCB3 FNMA POOL #0323980 6.0000/o 104.7578 245,061.280 255,859.30 256,720.83 0.06% 861.53 04/01/2014 DD 09/01/99SEC ID: 31374T2MO FNMA POOL #0357328 5.0000/4 102.5315 36,290.110 37,378.81 37,208.80 0.01% -170.01 01/01/2018 DD Ol/Ol/03SEC ID: 31376J4M8 FNMA POOL #0456482 6.0000Ai 104.8203 84,340.760 88,057.02 88,406.25 0.02% 349.23 02/01/2014 DD 02/01/99SEC ID: 31381CCT2 FNMA POOL #0509649 6.000% 104.8203 241,995.390 252,65~.31 253,660.32 0.06% 1,002.01 09/01/2014 DD 09/0l/99SEC ID: 31383QEWO FNMA POOL #0535451 6.0000/o 104.7578 194,825.100 203,409.58 204,094.51 0.05% 684.93 06/01/2015 DD 07 /01/00SEC ID: 31384VZQ8 FNMA POOL #0535672 6.0000/o 104.7578 4,267,050.990 4,455,067.93 4,470,069.17 1.05% 15,001.24 01/01/2016 DD 12/01/00SEC ID: 31384WCH1 FNMA POOL #0545296 6.0000/o 104.5703 1,440,144.820 1,503,601.19 1,505,963.90 0.36% 2,362.71 11/01/2016 DD 10/01/0lSEC ID: 31385HXZO FNMA POOL #0545580 6.0000/o 104.6328 119.286.930 124,543.01 124,813.27 0.03% 270.26 03/01/2017 DD 03/0l/02SEC ID: 31385JCR7 FNMA POOL #0545998 6.0000/o 103.0387 230,876.560 240,111.62 237,892.14 0.06% -2,219.48 11/01/2032 DD 10/01/02SEC ID: 31385JRf7 5 Workbench I Asset Detail Report ID: GL8013 I Base Currency: USD ~NSOUDATED • OCSGOOOIOOOO by Currency Alternate Base Currency: Exchange Rate: 9/30/2003 Status: FINAL .. ... Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base FNMA POOL #0555101 6.000% 104.5703 205,828.730 214,898.05 215,235.74 0.05% 337.69 10/01/2017 DD ll/Ol/02SEC ID: 31385WU23 FNMA POOL #0555285 6.000% 103.3945 914,332.110 950,905.40 945,369.39 0.22% -5,536.01 03/01/2033 DD 02/01/03SEC ID: 31385W2S7 FNMA POOL #0555363 5.000% 102.6445 403,365.360 415,466.32 414,032.48 0.10% -1.433.84 04/01/2018 DD 03/0l/03SEC ID: 31385W5Yl FNMA POOL #0555528 6.0000/4 103.3945 902,305.290 938,397.51 932,934.31 0.22% -5.463.20 04/01/2033 DD 05/0l/03SEC ID: 31385XD95 FNMA POOL #0555545 5.0000/o 102.6445 339,493.050 349,677.84 348,471.05 0.08% -1 ,206.79 06/01/2018 DD 05/01/03SEC ID: 31385XES2 FNMA POOL #0555640 6.0000/o 103.3945 905,629.540 941.854.72 936,371.41 0.22% -5,483.31 07/01/2033 DD 06/0l/03SEC ID: 31385XHR1 FNMA POOL #0576386 6.0000/o 104.0279 79,020.960 82,502.82 82,203.86 0.02% -298.96 05/01/2016 DD 05/01/0lSEC ID: 31386XJ72 FNMA POOL #0576739 6.000% 104.6328 224,094.920 233,969.10 234,476.81 0.06% 507.71 04/01/2016 DD 04/01/0lSEC ID: 31386.XV86 FNMA POOL #0580888 6.000% 104.6328 264,776.770 276,443.49 277,043.37 0.07% 599.88 05/01/2016 DD 05/01/0lSEC ID: 31387DJ91 FNMA POOL #0594002 6.000% 104.6328 210,597.710 219,877.17 220,354.30 0.05% 477.13 07/01/2016 DD 07 /01/0lSEC ID: 31387T3K8 FNMA POOL #0597376 6 .0000/o 104.5703 268,419.450 280,246.68 280,687.05 0.07% 440.37 09/01/2016 DD 08/01/0lSEC ID: 31387XT96 FNMA POOL #0605259 6.0000/o 104.5703 202,673.500 211,603.80 211,936.31 0.05% 332.51 09/01/2016 DD 09/01/0lSEC ID: 31388HMG1 FNMA POOL #0608366 6.0000/4 104.6328 151,460.240 158,133.95 158,477.11 0.04% 343.16 10/01/2016 DD 09/01/0lSEC ID: 31388IZ78 6 3/orlcbenc/:t Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSG000l0000 9/30/2003 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base FNMA POOL #0616734 6.000% 104.6328 172,684.620 180,293.53 180,684.77 0.04% 391.24 12/01/2016 DD 12/01/0lSEC ID: 31388WEF9 FNMA POOL #0630812 6.000%> 104.1110 216,112.720 225,635.18 224,997.07 0.05% -638.11 02/01/2017 DD 02/0l/02SEC ID: 31389NYH2 FNMA POOL #0632376 6.000% 104.7203 971,978.160 1,014,805.96 1,017,858.54 0.24% 3,052.58 07/01/2017 DD 07 /01/02SEC ID: 31389QQ50 FNMA POOL #0653116 6.000% 104.7203 557,031.830 581,576.05 583,325.46 0.14% 1,749.41 07/01/2017 DD 07 /0l/02SEC ID: 31390QSD8 FNMA POOL #0673280 6.000% 104.5703 242,834.960 253,534.87 253,933.27 0.06% 398.40 08/01/2017 DD ll/0l/02SEC ID: 31391P6R2 FNMA POOL #0681309 5.000% 102.6445 609,214.140 627,490.56 625,324.99 0.15% -2,165.57 02/01/2018 DD 02/0l/03SEC ID: 31391Y3S4 FNMA POOL #0681334 5.000% 102.6445 76,565.990 78,862.97 78,590.80 0.02% -272.17 02/01/2018 DD 0l/0l/03SEC ID: 31391Y4Tl FNMA POOL #0685665 5.000% 102.6445 38,763.510 39,926.42 39,788.62 0.01% -137.80 02/01/2018 DD 02/0l/03SEC ID: 31400EW22 FNMA POOL #0686318 5.000% 102.6445 330,350.030 340,260.53 339,086.24 0.08% -1,174.29 03/01/2018 DD 03/0l/03SEC ID: 31400FPB7 FNMA POOL #0688739 5.000%> 102.6445 131,275.190 135,213.44 134,746.80 0.03% -466.64 06/01/2018 DD 06/0l/03SEC ID: 31400JEL9 FNMA POOL #0693834 5.000% 102.6445 776,638.160 799,937.30 797,176.59 0.19% -2,760.71 03/01/2018 DD 03/0l/03SEC ID: 31400PY74 FNMA POOL #0695852 5.000% 102.6445 294,023.470 302,844.17 301,799.01 0.07% -1,045.16 05/01/2018 DD 05/0l/03SEC ID: 31400SBV0 FNMA POOL #0695889 5.000% 102.6445 877,339.710 903.659.90 900.541.22 0.21% -3,118.68 05/01/2018 DD 05/0l/03SEC ID: 31400SC23 7 Workbench Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLlDATED -OCSG000l0000 9/30/2003 Status: FINAL " .. -"' -- Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base FNMA POOL #0697026 5.000%i 102.6445 28,882.460 29,748.94 29,646.27 0.01% -102.67 05/01/2018 DD 04/0l/03SEC ID: 31400TLF2 FNMA POOL #0698939 6.000o/o 104.7453 138,264.690 144,356.98 144,825.78 0.03% 468.80 09/01/2017 DD 03/01/03SEC ID: 31400VPY2 FNMA POOL #0702210 5.000% 102.5568 294,427.330 303.260.15 301,955.29 0.07% -1,304.86 05/01/2018 DD 05/01/03SEC ID: 31401ADP9 FNMA POOL #0703195 6.000% 105.0078 84,890.020 88,630.49 89,141.15 0.02% 510.66 01/01/2017 DD 04/01/03SEC ID: 31401BGC3 FNMA POOL #0709148 5.000% 102.6445 312,665.020 322,044.97 320,933.54 0.08% -1,111.43 06/01/2018 DD 06/0l/03SEC ID: 31401HZM7 FNMA POOL #0710235 5.000%i 102.6445 834,646.060 859,685.45 856,718.53 0.20% -2,966.92 06/01/2018 DD 06/0l/03SEC ID: 31401KBC8 FNMA POOL #0713344 5.000% 102.6445 27,298.340 28,117.29 28,020.25 0.01% -97.04 06/01/2018 DD 06/0l/03SEC ID: 31401NP52 FNMA POOL #0720369 5.000% 102.5568 2,651,557.740 2,731,104.47 2,719,353.17 0.64% -11,751.30 06/01/2018 DD 06/0l/03SEC ID: 31401WJN0 FNMA POOL #0721629 5.000% 102.8320 324,411.470 334,143.82 333,598.90 0.08% -544.92 07/01/2018 DD 06/0l/03SEC ID: 31401XVW4 FORD MOTOR CR CO NT6. 750% 105.2650 1,000,000.000 965,170.00 1,052,650.00 0.25% 87,480.00 05/15/2005 DD 05/24/93SEC ID: 345397GV9 FORD MTR CR CO GLOBAL 103.4210 3,000,000.000 2,995,080.00 3,102,630.00 0.73% 107,550.00 LANDMARK6.700% 07/16/2004 DD 07/16/99SECID:345397SJ3 GNMA POOL #0596612 6.500% 105.2227 438,461.740 460,179.30 461,361.11 0.11% 1,181.81 09/15/2032 DD 09/01/02SEC ID: 36200BYH4 GNMA POOL #0569358 6.5000/4 104.7345 1,480,019.820 1,514,707.78 1,550,091.77 0.37% 35,383.99 04/15/2032 DD 04/01/02SEC ID: 36200QQK3 8 Workbench Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSG000I0000 9/30/2003 Status: FINAL .. " .. Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base GNMA POOL #0569685 6.500% 105.2539 64,629.320 67,830.49 68,024.89 0.02% 194.40 02/15/2032 DD 02/0l/02SEC ID: 36200Q2S2 GNMA POOL #0570019 6.500o/o 105.2227 108,542.020 113,918.25 114,210.80 0.03% 292.55 07/15/2032 DD 07 /01/02SEC ID: 36200RG48 GNMA POOL #0574323 6.500% 105.2539 710,211.240 745,388.89 747.525.10 0.18% 2,136.21 12/15/2031 DD 12/01/0lSEC ID: 36200WAY7 GNMA POOL #0575364 6.5000Ai 105.2539 70,464.870 73,955.08 74,167.03 0.02% 211.95 11/15/2031 DD 11/01/0lSEC ID: 36200XFD6 GNMA POOL #0587117 6.5000/o 105.2227 27,102.450 28,444.87 28,517.92 0.01% 73.05 06/15/2032 DD 06/0l/02SEC ID: 36201MG22 GNMA POOL #0587439 6.5000/o 105.2227 80,817.680 84,820.68 85,038.51 0.02% 217.83 11/15/2032 DD 12/01/02SEC ID: 36201MS45 GNMA POOL #0421389 6.5000/o 105.5352 18,104.460 19,001.20 19,106.57 O.OOOAi 105.37 04/15/2026 DD 04/0l/96SEC ID: 36206UC23 GNMA POOL #0438057 6.0000/o 104.2852 29,506.100 28,007.76 30,770.48 0.01% 2,762.72 05/15/2028 DD 05/0l/98SEC ID: 36207PTN9 GNMA POOL #0449851 6.5000Ai 104.7968 27,092.300 28,434.22 28,391.85 0.01% -42.37 01/15/2028 DD Ol/Ol/98SEC ID: 36208FWLO GNMA POOL #0457814 6.0000/o 104.2852 42,651.160 40,485.27 44,478.83 0.01% 3,993.56 10/15/2028 DD 10/01/98SEC ID: 36208QSB3 GNMA POOL #0465546 6.0000/o 104.2852 507,061.960 481,312.72 528,790.38 0.12% 47,477.66 08/15/2028 DD 08/0l/98SEC ID: 36209AET3 GNMA POOL #0465555 6.00QOAi 104.2852 569,849.090 540,911.46 594,268.04 0.14% 53,356.58 09/15/2028 DD 09/0l/98SEC ID: 36209AE48 GNMA POOL #0466845 6.5000/o 105.4727 89,231.280 93,651.02 94,114.60 0.02% 463.58 06/15/2028 DD 06/01/98SEC ID: 36209BTA6 9 Workbench Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSG000I0000 9/30/2003 Status: FINAL .,_,, --" ... -·· -· "' . ·• Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base GNMA POOL #0467279 6.000% 104.2852 22,978.800 21,811.91 23,963.48 0.01% 2,151.57 10/15/2028 DD 10/01/98SEC ID: 36209CCQ7 GNMA POOL #0467286 6.000%1 104.2852 456,573.970 433,388.57 476,138.90 0.11% 42,750.33 10/15/2028 DD 10/01/98SEC ID: 36209CCX2 GNMA POOL #0468052 6.500% 105.4727 677,509.660 711,067.56 714,587.46 0.17% 3,519.90 07/15/2028 DD 07 /Ol/98SEC ID: 36209C5M4 GNMA POOL #0468330 6.000% 104.2852 23,429.400 22,239.62 24,433.39 0.01% 2,193.77 05/15/2028 DD 05/0l/98SEC ID: 36209DHF4 GNMA POOL #0468339 6.000% 104.2852 443,140.070 420,636.88 462,129.33 0 .11% 41,492.45 08/15/2028 DD 08/01/98SEC ID: 36209DHQO GNMA POOL #0469688 6.000% 104.2852 18,066.590 17,149.14 18,840.77 0.00%) 1,691.63 11/15/2028 DD ll/Ol/98SEC ID: 36209EXR8 GNMA POOL #0476041 6.500% 105.4727 262,214.030 274,792.11 276,564.11 0.071% 1,772.00 06/15/2028 DD 06/0l/98SEC ID: 36209MZE7 GNMA POOL #04 78626 6.500% 105.3789 217,313.680 227,737.95 229,002.79 0.05% 1,264.84 01/15/2029 DD Ol/Ol/99SEC ID: 36209QVT9 GNMA POOL #0480598 6.500% 105.3789 249,614.150 261,587.84 263,040.67 0.060/4 1,452.83 10/15/2028 DD 10/01/98SEC ID: 36209S3F6 GNMA POOL #0483452 6.000%1 104.2852 15,410.300 14,627.75 16,070.66 0.00% 1,442.91 09/15/2028 DD 09/01/98SEC ID: 36209WBV3 GNMA POOL #0485527 6.500% 105.2539 558,777.460 586,454.41 588,135.12 0.14% 1,680.71 06/15/2031 DD 06/01/0lSEC ID: 36209YLG1 GNMA POOL #0485610 6.500% 105.2539 633,585.270 664,967.54 666,873.27 0.160/o 1,905.73 07/15/2031 DD 07 /01/0lSEC ID: 36209YN38 GNMA POOL #0485682 6.500% 105.2539 133,203.960 139,801.72 140.202.38 0.03% 400.66 08/15/2031 DD 08/01/0lSEC ID: 36209YRB6 10 }Vorkbencfl ------ Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLlDATED -OCSGO00IOOO0 9/30/2003 Status: FINAL -·---- Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base GNMA POOL #0485703 6.500% 105.2539 140,291.530 147,240.35 147,662.32 0.03% 421.97 08/15/2031 DD 08/01/0lSEC ID: 36209YRY6 GNMA POOL #0486720 6.000% 104.2852 13,369.440 12,690.53 13,942.34 0.00% 1,251.81 12/15/2028 DD 12/0l/98SEC ID: 36210AVM6 GNMA POOL #0491103 6.000% 104.2852 127,477.800 121,004.33 132,940.43 0.03% 11,936.10 01/15/2029 DD 0l/0l/99SEC ID: 36210FRY4 GNMA POOL #0496461 6.000% 104.2852 474,521.430 450,424.63 494,855.43 0.12% 44,430.80 01/15/2029 DD 0l/0l/99SEC ID: 36210MQN4 GNMA POOL #0497343 6.000% 104.2852 27,232.780 25,849.87 28,399.75 0.01% 2,549.88 12/15/2028 DD 12/0l/98SEC ID: 36210NP45 GNMA POOL #0499153 6.000% 104.2852 12,734.520 12,087.84 13,280.21 0.00% 1,192.37 02/15/2029 DD 02/0l/99SEC ID: 36210QQE5 GNMA POOL #0500917 6.000% 104.2227 9,534.530 9,050.35 9,937.14 0.00% 886.79 04/15/2029 DD 04/0l/99SEC ID: 36210SPA0 GNMA POOL #0503388 6.000% 104.2852 407,572.690 386,875.64 425,037.83 0.10% 38,162.19 03/15/2029 DD 03/0l/99SEC ID: 36210VF55 GNMA POOL #0506636 6.000% 104.2227 40,584.400 38,523.47 42,298.14 0.01% 3,774.67 04/15/2029 DD 04/0l/99SEC ID: . 36210¥¥90 GNMA POOL #0512235 6.500% 105.3164 16,446.650 17,261.27 17,321.02 0.00% 59.75 11/15/2029 DD ll/0l/99SEC ID: 36211GBC6 GNMA POOL #0514326 6.500% 105.3789 244,244.120 255,960.20 257,381.79 0.06% 1,421.59 07/15/2029 DD 07 /01/99SEC ID: 36211JLF2 GNMA POOL #0530053 6.500% 104.6817 67,280.200 70,612.68 70,430.04 0.02% -182.64 04/15/2031 DD 04/01/0lSEC ID: 36212CZS3 GNMA POOL #0530290 6.500% 105.2539 69,192.130 72,511.20 72,827.42 0.02% 316.22 03/15/2031 DD 04/01/0lSEC ID: 36212DC31 11 Workbench Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSG000I0000 9/30/2003 Status: FINAL L ·-" _. .. _,,_ Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base GNMA POOL #0537885 6.500% 105.2539 135,383.080 142,088.77 142,495.99 0.03% 407.22 02/15/2031 DD 02/01/0lSEC ID: 36212MRE1 GNMA POOL #0547512 6.500%> 105.2539 16,205.480 17,008.16 17,056.90 0.OQ0/4 48.74 04/15/2031 DD 04/01/0lSEC ID: 36212YGV9 GNMA POOL #0547715 6.500% 105.2539 128,829.580 135,009.37 135,598.17 0.03% 588.80 02/15/2031 DD 02/01/0lSEC ID: 36212YN82 GNMA POOL #0552322 6.500% 105.2539 91,658.210 96,198.16 96,473.85 0.02% 275.69 01/15/2032 DD 0l/Ol/02SEC ID: 36213ESK3 GNMA POOL #0552466 6.500% 104.7345 727,214.830 763,234.69 761,645.02 0.18% -1,589.67 03/15/2032 DD 03/01/02SEC ID: 36213EW36 GNMA POOL #0552659 6.500% 105.2227 555,614.680 583,134.96 584,632.55 0.14% 1,497.59 07/15/2032 DD 07 /0l/02SEC ID: 36213E5U6 GNMA POOL #0561017 6.500% 105.2539 569,397.170 597,600.13 599,312.78 0.14% 1,712.65 07/15/2031 DD 07 /01/0lSEC ID: 36213QG29 GNMA II POOL #0080023VAR Rf 102.8602 262,485.050 266,832.46 269,992.52 0.06% 3,160.06 12/20/2026 DD 12/01/96SEC ID: 36225CAZ9 GNMA II POOL #080088M 7.375% 101.9262 370,815.570 378,927.17 377,958.22 0.09% -968.95 06/20/2027 DD 06/01/97SEC ID: 36225CC20 GNMA II POOL #0080395VAR Rf 101.5236 306,886.750 304,105.59 311,562.32 0.07% 7,456.73 04/20/2030 DD 04/01/00SEC ID: 36225CNM4 GNMA II POOL #080408X 6.500% 101.4693 2,778,689.780 2,750,468.71 2,819,515.68 0.67% 69,046.97 05/20/2030 DD 05/01/00SEC ID: 36225CN28 GTE NORfH INC DEB SER A6.000% 101.3590 3,000,000.000 3,063,750.00 3,040,770.00 0.72% -22,980.00 01/15/2004 DD 0l/15/94SEC ID: 362337AD9 GENERAL ELEC CAP MTN #TR 100.0620 1,000,000.000 1,001,089.00 1,000,620.00 0.24% -469.00 00545VAR Rf 05/20/2004 DD 05/20/02SECID:36962GYS7 12 Workbench --------- Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSG000l0000 9/30/2003 Status: FINAL - Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base GENERAL ELEC CAP MTN #TR 105.0460 5,000,000.000 5,203,500.00 5,252,300.00 1.24% 48,800.00 00575 5.450% 01/15/2013 DD 12/06/02SEC ID: 36962Gzy3 GENERAL MTRS ACCEP CORP SR NT 105.7340 3,000,000.000 3,064,350.00 3,172,020.00 0.75% 107,670.00 6.125% 08/28/2007 DD 08/29/02SECID:370425SD3 GOLDMAN SACHS GROUP INC SR NT 103.4530 3,000,000.000 3,030,030.00 3,103,590.00 0.73% 73,560.00 4.125% 01/15/2008 DD 0l/13/03SECID:38141GCS1 GNMA GTD REMIC TR 2000-9 100.6520 833,712.130 833,712.13 839,147.93 0.20% 5,435.80 FHVAR RI' 02/16/2030SEC ID: 3837H4NX9 HOUSEHOLD FIN CORP NT 6.375% 111.1870 1,635,000.000 1,772,820.00 1,817,907.45 0.43% 45,087.45 10/15/2011 DD 10/23/0lSEC ID: 441812JW5 JP MORGAN CHASE & CO SUB NT5. 106.8120 3,000,000.000 3,127,260.00 3,204,360.00 0.76% 77,100.00 750% 01/02/2013 DD ll/25/02SECID:46625HAT7 LEHMAN BROS HLDGS INC6.625% 102.6710 1,000,000.000 1,045,590.00 1,026,710.00 0.24% -18,880.00 04/01/2004 DD 03/26/99SEC ID: 524908BZ2 MARSH & MCLENNAN COS INC SR 103.6250 2,000,000.000 1,992,280.00 2,072,500.00 0.49% 80,220.00 NT6.625% 06/15/2004 DD 06/14/99SECID:571748AB8 MORGAN STANLEY NT 3.625% 100.9210 3,200,000.000 3,195,648.00 3,229.4 72.00 0.76% 33,824.00 04/01/2008 DD 03/06/03SEC ID: 617446HW2 NATIONAL RURAL UTILS COOP FIN 117.2650 3,000,000.000 3,465,480.00 3,517,950.00 0.83% 52,470.00 7.250% 03/01/2012 DD 03/07 /02SEC ID: 637432CU7 PACIFICORP SECD MTN #TR 00115 105.7650 3,000,000.000 2,950,530.00 3,172,950.00 0.75% 222,420.00 7.300%1 10/22/2004 DD 10/22/92SEC ID: 69512EEU5 PAINE WEBBER GROUP INC NTS6. 100.8430 500,000.000 519,405.00 504,215.00 0.12% -15,190.00 450% 12/01/2003 DD 12/01/98SECID:695629CE3 PHILIP MORRIS COS INC NTS 7. 102.2340 5,000,000.000 5,263,000.00 5,111,700.00 1.21% -151,300.00 500%1 04/01/2004 DD 04/0l/97SECID: 718154CH8 13 Workbench Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSG000I0000 9/30/2003 Status: FINAL -- Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base SBA GTD DEV PARTN 2001-20C 16. 109.6400 3,497,276.280 3,497,276.28 3,834,413.71 0.90%, 337,137.43 340% 03/0l/2021SEC ID: 83162CW0 SBA GTD PARTN CTFS SBIC-PS 01 108.5650 2,504,229.760 2,504,229.76 2,718,717.04 0.64% 214,487.28 6.640% 02/10/2011 DD 02/21/01SECID:831641DD4 UNITED AIRLS PASSTHRU 01-1 C 6. 15.2500 1,600,000.000 1,600,000.00 244,000.00 0.06% -1,356,000.00 831% 03/01/2010 DD 08/22/01SECID:909317BC2 US BANCORP MTN #TR 001196. 102.8280 1,000,000.000 1,046,310.00 1,028,280.00 0.24% -18,030.00 000% 05/15/2004 DD 05/10/99SEC ID: 91159HEY2 U S TREASURY BONDS! 1.875% 101.3440 5,800,000.000 6,251,984.38 5,877,952.00 1.39% -374,032.38 11/15/2003 DD 10/05/83SEC ID: 912810DG0 US TREASURY NOTES06.250% 113.4375 20,000,000.000 22,620,312.50 22,687,500.00 5.35% 67,187.50 02/15/2007 DD 02/15/97SEC ID: 9128272J0 US TREASURY INFLATION INDEX 110.0000 16,249,520.000 14,322,493.87 17,874,472.00 4.22% 3,551,978.13 NT 3.375% 01/15/2007 DD 0l/15/97SECID:9128272M3 US TREASURY INFLATION INDEX NT 112.2813 3,414,810.000 3,725,779.05 3,834,191.35 0.90% 108,412.30 3.625% 01/15/2008 DD 0l/15/98SECID:9128273T7 US TREASURY INFLATION INDEX NT 114.2815 14,576,900.000 16,209,968.79 16,658,699.97 3.93% 448,731.18 3.875% 01/15/2009 DD 01/15/99SECID:9128274Y5 U STREASURY NOTES05.750% 108.8440 57,100,000.000 62,782,901.47 62,149,924.00 14.66% -632,977.47 11/15/2005 DD 11/15/00SEC ID: 9128276N7 U STREASURY NT 3.250% 102.1200 12,000,000.000 11,870,156.25 12,254,400.00 2.89% 384,243.75 08/15/2008 DD 08/15/03SEC ID: 912828BG4 VERIZON GLOBAL FDG CORP 117.9210 3,000,000.000 3,530,490.00 3,537,630.00 0.83% 7,140.00 GLOBAL 7.375% 09/01/2012 DD 08/26/02SECID:92344GAT3 VIRGINIA ELEC & PWR 0 l SER A5. 108.4060 3,500,000.000 3,487,680.00 3,794,210.00 0.90% 306,530.00 750%, 03/31/2006 DD 03/27/01SECID:927804EN0 14 3/orkbenctt Asset Detail Report ID: GL8013 Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSGOOOlOOOO 9/30/2003 Status: FINAL -... " -· .. '" Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base WELLS FARGO & CO SUBNT6.125% 100.3750 450.000.000 467.496.00 451,687.50 0.11% -15,808.50 11/01/2003 DD ll/0l/93SEC ID: 949740BY9 TOTAL FIXED INCOME SECURITIES 313,345,660.920 327,158,034.19 334,091,088.93 78.82% 6,933,054.74 TOTAL ASSETS U.S. DOLLAR 424,564,372.650 416,945,705.67 423,878,760.41 100.00% 6,933,054.74 TOTAL ASSETS -BASE: 424,564,372.650 416,945,705.67 423,878,760.41 100.00% 6,933,054.74 15 Workbench Transaction Detail Report ID: EWB009 Reportedby Transaction Category Base Currency: USD OCSD-CONSOUDATED -OCSGO00l00OO 9/2/2003 -9/30/2003 Status: FINAL ------- Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base PURCHASES CASH & CASH EQUIVALENTS U.S. DOLLAR B FEDERAL HOME LN BKS CONS DISC MAT 9/26/2003 99.8432 1,500,000.000 1,497,648.75 -1,497,648.75 0.00 ll/19/2003SEC ID: 313384PL78ROKER: 9/26/2003 CREDIT SUISSE FIRST BOSTON CORP, N 9/26/2003 YOCSF07511102: LIQUID OPER-PIMCO B FEDERAL HOME LN BKS ClNS DISC MAT 9/18/2003 99.4595 3,400,000.000 3,381,623.47 -3,381,623.47 0.00 03/ 17 /2004SEC ID: 3l3384UK3BROKER: JP 9/18/2003 MORGAN CHASE BK/HSBC!, NEW YORKOCSF07522202: LONG TERM OPER-9/18/2003 B ~L HOME LN BKS CINS DISC MAT 9/18/2003 99.4625 1,000,000.000 994,625.00 -994,625.00 0.00 03/17 /2004SEC ID: 313384tJK3BROKER: JP 9/19/2003 MORGAN CHASE BK/HSBC!, NEW YORKOCSF075lll02:L lQUID OPER-PJMCO 9/ l8/2003 B FEDERAL HOME LN BKS CONS DISC MAT 9/19/2003 99.4616 6,700,000.000 6,663,926.08 -6,663,926.08 0.00 03/ 19/2004SEC ID: 3l3384UM9BROKER: 9/19/2003 UBS SECURITIES LLC, NEW 9/19/2003 YORKOCSF07522202: LONG TERM OPER- B ~L HOME LN MTG CORP DISC MAT 9/24/2003 99.4225 3,800,000.000 3,778,055.00 -3, 778,055.00 0.00 03 / 31 /2004SEC ID: 3 l 3396UZ4BROKER: 9/24/2003 GOLDXv[AN SACHS & CO,NYOCSF07511102: 912412003 LIQUID OPER-PlMCO B FEDERAL NATL MTG ASSN DISC NTSEC ID: 9/22/2003 99.5530 200,000.000 199,106.00 -199,106.00 0.00 313588TF2BROKER: MERRILL LYNCH 9/22/2003 PIERCE FENNER SMITH INC NYOCSF07522202: LONG TERM OPER-PIMCO 9 /22/2003 B FEDERAL NATL MTG ASSN DISCOUNT MAT 9/23/2003 99.5530 9,500,000.000 9,457,535.00 -9,457,535.00 0.00 02/19/2004SECID:313588TG0BROKER: 9/23/2003 LEHMAN GOVT SECS INC, NYOCSF07522202:9I23I2003 LONG TERM OPER-PIMCO B FEDERAL NATL MTG ASSN DISCUNT MAT 9/26/2003 99.5500 500,000.000 497,750.00 -497,750.00 0.00 02/23/2004SEC ID: 313588TL9BROKER: 9/26/2003 GOLDMAN SACHS & CO, NYOCSF07522202: 912612003 LONG TERM OPER-PIMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 9/29/2003 99.5560 1,800,000.000 1,792,008.00 -1,792,008.00 0.00 02/24/2004SEC ID: 313588TM7BROKER: 9/29/2003 LEHMAN GOVT SECS INC, NYOCSF07522202:9I29I2003 LONG TERM OPER-PIMCO 1 Workbench I : OCSD-CONSOUDATED -OCSGO00l0000 Transaction Detail Reportedby Transaction Category 9/2/2003 -9/30/2003 B B B B B B B B B B ------- Tran Type Description Trade Date Settle Date Reported Date FEDERAL NATL MTG ASSN DISCOUNT MAT 02/25/2004SEC ID: 313588TN5BROKER: UBS SECURITIES LLC, NEW YORKOCSF07522202: LONG TERM OPER- ~ NATL MTG ASSN DISCSEC ID: 313588UK9BROKER: GOLDMAN SACHS & CO, NYOCSF07522202: LONG TERM OPER- PIMCO WELLS FARGO BK NA INSTL C/D 1.060% 10/23/2003 DD 09/23/03SEC ID: 94975UXB8BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCOOCSF0751 l 102: 9/2/2003 9/2/2003 9/2/2003 9/17/2003 9/17/2003 9/17/2003 9/23/2003 9/23/2003 9/23/2003 ~~¥·2~ 00.970% 09/05/2003 9/4/2003 DD 09/04/03SEC ID: 99409W058BROKER: 9/4/2003 LEHMAN GOVT SECS INC, NYOCSF075 l l 102: 91412003 LIQUID OPER-PIMCO LEHMAN CAT 2 REPO 00.900% 09/08/2003 9/5/2003 DD 09/05/03SEC ID: 99409X734BROKER: 9/5/2003 LEHMAN GOVT SECS INC, NYOCSF075 l l 102: 9 / 12003 LIQUID OPER-PIMCO 5 LEHMAN CAT 2 REPO 00.970% 09/09/2003 9/8/2003 DD 09/08/03SEC ID: 99409Y906BROKER: 9/8/2003 LEHMAN GOVT SECS INC, NYOCSF0751 l 102: 91812003 LIQUID OPER-PIMCO LEHMAN CAT 2 REPO 00. 930% 09/10/2003 9/9/2003 DD 09/09/03SEC ID: 99410A327BROKER: 9/9/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 91912003 LIQUID OPER-PIMCO LEHMAN CAT 2 REPO 00.930% 09/11/2003 9/10/2003 DD 09/10/03SEC ID: 99410B739BROKER: 9/10/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: g; 1012003 LIQUID OPER-PIMCO LEHMAN CAT 2 REPO 00.990% 09/12/2003 9/11/2003 DD 09/11/03SEC ID: 99410D065BROKER: 9/11/2003 LEHMAN GOVT SECS INC, NYOCSF07511102:9 /ll/2003 LIQUID OPER-PIMCO LEHMAN CAT 2 REPO 01.000% 09/15/2003 9/12/2003 DD 09/12/03SEC ID: 99410E337BROKER: 9/12/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 9 / 1212003 LIQUID OPER-PIMCO ---- Price Base 99.4476 99.4540 100.0000 100.0000 100.0000 100.0000 100.0000 100.0000 100.0000 100.0000 Shares/Par 1,200,000.000 3,000,000.000 1,400,000.000 3,200,000.000 3,200,000.000 3,200,000.000 ' 3,200,000.000 3,200,000.000 3,200,000.000 3,200,000.000 2 Cost Base 1,193,370.67 2,983,620.00 1,400,000.00 3,200,000.00 3,200,000.00 3,200,000.00 3,200,000.00 3,200,000.00 3,200,000.00 3,200,000.00 ReportlD: EWB009 Base Currency: USD Status: FINAL Amount Base -1,193,370.67 -2,983,620.00 -1,400,000.00 -3,200,000.00 -3,200,000.00 -3,200,000.00 -3,200,000.00 -3,200,000.00 -3,200,000.00 -3,200,000.00 Net Gain/Loss Base 0.00 0.00 0.00 0 .00 0.00 0.00 0 .00 0.00 0.00 0.00 . Workbench r---------·--Transaction Detail Report ID: EWB009 I OCSD-CONSOLIDATED -OCSGO00l0000 Reportedby Transaction Category Base Currency: USD 9/2/2003 -9/30/2003 Status: FINAL ------Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base B LEHMAN CAT 2 REPO 01.100% 09/16/2003 9/15/2003 100.0000 3,900,000.000 3,900,000.00 -3,900,000.00 0.00 DD 09/15/03SEC ID: 99410F730BROKER: 9/15/2003 LEHMAN GOVT SECS INC, NYOCSF0751 l 102: 9/ 1512003 LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 00.990% 9/16/2003 100.0000 3,900,000.000 3,900,000.00 -3,900,000.00 0.00 09/17/2003 DD 09/16/03SEC ID: 9/16/2003 99410F953BROKER: CREDIT SUISSE FIRST 9/16/2003 BOSTON CORP, N YOCSF0751 l 102: LIQUID B £>t'~ 2 REPO 00.930% 09/18/2003 9/17/2003 100.0000 2,900,000.000 2,900,000.00 -2,900,000.00 0.00 DD 09/17 /03SEC ID: 99410J385BROKER: 9/17/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 9/1712003 LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00. 950% 09/19/2003 9/18/2003 100.0000 2,900,000.000 2,900,000.00 -2,900,000.00 0.00 DD 09/ 18/03SEC ID: 99410K879BROKER: 9/18/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 911812003 LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00.920% 09/22/2003 9/19/2003 100.0000 4,400,000.000 4,400,000.00 -4,400,000.00 0.00 DD 09/19/03SEC ID: 99410M255BROKER: 9/19/2003 LEHMAN GOVT SECS INC, NYOCSF0751 l 102: 9/ 1912003 LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00.960% 09/23/2003 9/22/2003 100.0000 4,300,000.000 4,300,000.00 -4,300,000.00 0.00 DD 09/22/03SEC ID: 99410N600BROKER: 9/22/2003 LEHMAN GOVT SECS INC, NYOCSF075ll102:912212003 LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00.960% 09/24/2003 9/23/2003 100.0000 5,300,000.000 5,300,000.00 -5,300,000.00 0.00 DD 09/23/03SEC ID: 99410Q017BROKER: 9/23/2003 LEHMAN GOVT SECS INC, NYOCSF0751 l 102: 912312003 LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00.980% 09/25/2003 9/24/2003 100.0000 1,500,000.000 1,500,000.00 -1,500,000.00 0.00 DD 09/24/03SEC ID: 99410R387BROKER: 9/24/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 912412003 LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 01.000% 9/25/2003 100.0000 1,500,000.000 1,500,000.00 -1 ,500,000.00 0.00 09/26/2003 DD 09/25/03SEC ID: 9/25/2003 99410R577BROKER: CREDIT SUISSE FIRST 9/25/2003 BOSTON CORP, N YOCSF07511102: LIQUID B B~~~T~ASURY CASH MGMTSEC ID: 9/3/2003 1.0000 55,303.460 55,303.46 -55,303.46 0.00 996085247OCSF07522202: LONG TERM 9/3/2003 OPER-PIMCO 9/3/2003 3 Workbench .--.. -------· .. ...- I Transaction Detail ReportID: EWB009 Reportedby Transaction Category Base Currency: USD OCSD-CONSOUDATED -OCSGOOOl0000 9/2/2003 -9/30/2003 Status: FINAL --Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base B DREYFUS TREASURY CASH MGMTSEC ID: 9/4/2003 1.0000 979,979.310 979,979.31 -979,979.31 0.00 996085247OCSF07511102: LIQUID OPER-9/4/2003 PIMCO 9/4/2003 B DREYFUS TREASURY CASH MGMTSEC ID: 9/5/2003 1.0000 86.220 86.22 -86.22 0.00 996085247OCSF07511102: LIQUID OPER-9/5/2003 PIMCO 9/5/2003 B DREYFUS TREASURY CASH MGMTSEC ID: 9/10/2003 1.0000 3,090,000.000 3,090,000.00 -3,090,000.00 0.00 996085247OCSF07522202: LONG TERM 9/10/2003 OPER-PIMCO 9/10/2003 B DREYFUS TREASURY CASH MGMTSEC ID: 9/11/2003 1.0000 173,871.760 173,871.76 -173,871.76 0.00 996085247OCSF07511102: LIQUID OPER-9/11/2003 PIMCO 9/11/2003 B DREYFUS TREASURY CASH MGMTSEC ID: 9/12/2003 1.0000 88.000 88.00 -88.00 0.00 996085247OCSF07511102: LIQUID OPER-9/12/2003 PIMCO 9/12/2003 B DREYFUS TREASURY CASH MGMTSEC ID: 9/15/2003 1.0000 1,489,709.340 1,489,709.34 -1,489,709.34 0.00 996085247OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO 9/15/2003 B DREYFUS TREASURY CASH MGMTSEC ID: 9/16/2003 1.0000 119.170 119.17 -119.17 0.00 996085247OCSF07511102: LIQUID OPER-9/16/2003 PIMCO 9/16/2003 B DREYFUS TREASURY CASH MGMTSEC ID: 9/16/2003 1.0000 3,768,968.830 3,768,968.83 -3,768,968.83 0.00 996085247OCSF07522202: LONG TERM 9/16/2003 OPER-PIMCO 9/16/2003 B DREYFUS TREASURY CASH MGMTSEC ID: 9/18/2003 1.0000 74.920 74.92 -74.92 0.00 996085247OCSF07511102: LIQUID OPER-9/18/2003 PIMCO I 9/18/2003 B DREYFUS TREASURY CASH MGMTSEC ID: 9/19/2003 1.0000 4,305,451.530 4,305,451.53 -4,305,451.53 0.00 996085247OCSF07511102: LIQUID OPER-9/19/2003 PIMCO 9/19/2003 4 Workbendi OCSD-CONSOUDATED -OCSGO00lOO00 Transaction Detail Reportedby Transaction Category 9/2/2003-9/30/2003 B B B B B B B Tran Type Description Trade Date Settle Date Reported Date DREYFUS TREASURY CASH MGMTSEC ID: 996085247OCSF07522202: LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMTSEC ID: 996085247OCSF07511102: LIQUID OPER- PIMCO DREYFUS TREASURY CASH MGMTSEC ID: 996085247OCSF07511102: LIQUID OPER- PIMCO DREYFUS TREASURY CASH MGMTSEC ID: 996085247OCSF07511102: LIQUID OPER- PIMCO DREYFUS TREASURY CASH MGMTSEC ID: 996085247OCSF07522202: LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMTSEC ID: 996085247OCSF0751 l 102: LIQUID OPER- PIMCO DREYFUS TREASURY CASH MGMTSEC ID: 996085247OCSF07522202: LONG TERM OPER-PlMCO 9/23/2003 9/23/2003 9/23/2003 9/23/2003 9/23/2003 9/23/2003 9/24/2003 9/24/2003 9/24/2003 9/25/2003 9/25/2003 9/25/2003 9/25/2003 9/25/2003 9/25/2003 9/26/2003 9/26/2003 9/26/2003 9/30/2003 9/30/2003 9/30/2003 Price Base 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 Shares/Par 242,465.000 114.670 22,086.330 40.830 1,972,474.150 2,392.920 1.0000 107,324.350 Cost Base 242,465.00 114.67 22,086.33 40.83 1,972,474.15 2,392.92 107,324.35 TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: 103,210,550.790 103,049,818.76 B TOTAL CASH & CASH EQUIVALENTS BASE: FIXED INCOME SECURITIES U.S. DOLLAR COMMIT TO PUR FNMA SF MTG 5.000% 10/01/2018 DD 10/01/03SEC ID: 01F0504AlBROKER: BEAR STEARNS & CO INC, NYOCSF07522202: LONG TERM OPER- PIMCO 9/12/2003 10/20/2003 9/12/2003 101.6875 103,210,550.790 103,049,818.76 3,000,000.000 3,050,625.00 5 ReportlD: EWB009 Base Currency: USD Status: FINAL Amount Base -242,465.00 -114.67 -22,086.33 -40.83 -1,972,474.15 -2,392.92 -107,324.35 -103,049,818.76 -103,049,818.76 -3,050,625.00 Net Gain/Loss Base 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Workbench , OCSD-CONSOUDATED -OCSGO00l0000 Transaction Detail Reportedby Transaction Category 9/2/2003 -9/30/2003 B B B B B 1B Tran Type Description Trade Date Settle Date Reported Date COMMIT TO PUR FNMA SF MTG 5.000% 10/01/2018 DD 10/0l/03SEC ID: 01F0504AlBROKER: LEHMAN GOVT SECS INC, NYOCSF07522202: LONG TERM OPER- ~T TO PlJR FNMA SF MTG 5.000% 10/01/2018 DD 10/0l/03SEC ID: 01F0504AlBROKER: CREDJT SUISSE FIRST BOSTON CORP, N YOCSF07522202: LONG ~M-FtM~ SF MTG 6.000% 9/15/2003 10/20/2003 9/15/2003 9/15/2003 10/20/2003 9/15/2003 9/11/2003 10/01/2033 DD 10/01/03SECID: 10/15/2003 01F0606A8BROKER: CREDIT SUISSE FfRST 9/ 1112003 BOSTON CORP, N YOCSF07522202: LONG ~f8i1tAf'FNMA SF MTG 6.000% 9/11/2003 10/01/2033 DD 10/0l/03SEC ID: 10/15/2003 0lF0606A8BROKER; CITIGROUP GBL MK.TS/SALOMON, NEWYOR~OCSF07522202: 9/11 /2003 b~~M.,2~MT!9#TROO!;i45 VAR Rl' 9/17/2003 05/20/2004 DD 05/20 /02SEC lD: 9/17/2003 36962GYS7BROKER: BANC OF AM ERlCA SEC LLC, SAN FRANCISCOOCSF07511102: LIQUJD 9 /17/2003 B~'i£Ec CAP MTN IITR 00545 v AR RT 9 / 11 ;2003 05/20/2004 DD 05/20/02SEC ID: 9/17/2003 36962GYS7BROKER: BANC OF AMERJCA SEC g/ l 712003 LLC, SAN FRANCISCOOCSF07511102: LlOUlD OPER-PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: TOTAL FIXED INCOME SECURITIES BASE: TOTAL PURCHASES BASE: SALES s CASH Ill CASH EQUIVALENTS U.S. DOLLAR LEHMAN CAT 2 REPO 00.970% 09/05/2003 9/5/2003 DD 09/04/03SEC ID: 99409W058BROKER: 9/5/2003 LEHMAN GOVT SECS INC, NYOCSf0751 l 102: 9/ 512003 LIQUID OPER-PIMCO Price Base 101.3750 101.4063 102.3125 102.2500 100.1089 100.1089 100.0000 ---- Shares/Par 2,000,000.000 18,000,000.000 1,000,000.000 500,000.000 1,000,000.000 0.000 25,500,000.000 25,500,000.000 128,710,550.790 -3,200,000.000 6 Cost Base 2,027,500.00 18,253,125.00 1,023,125.00 511,250.00 1,001,089.00 0.00 25,866,714.00 25,866,714.00 128,916,532.76 -3,200,000.00 ReportID: EWB009 Base Currency: USD Status: FINAL Amount Base -2,027,500.00 -18,253,125.00 -1,023, 125.00 -511,250.00 -1,001,089.00 -956.67 -25,867,670.67 -25,867,670.67 -128,917,489.43 3,200,000.00 Net Gain/Loss Base 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Workbench· OCSD-CONSOUDATED -OCSGO00l0000 Transaction Detail Reportedby Transaction Category 9/2/2003 -9/30/2003 ----·--------- Tran Trade Date Settle Date Reported Date Type Description IS s IS s IS s IS s IS s LEHMAN CAT 2 REPO 00.970% 09/05/2003 9/5/2003 DI> 09/04/03SEC ID: 99409W058BROKER: 9/5/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 91512003 LIQUID OPER-PIMCO LEHMAN CAT 2 REPO 00.900% 09/08/2003 9/8/2003 DD 09/05/03SEC ID: 99409X734BROKER: 9/8/2003 LEHMAN GOVT SECS ING, NYOCSF075 l l 102: 9/S/2003 LIQUID OPER-PIMCO LEHMAN CAT 2 REPO 00.900% 09/08/2003 9/8/2003 DD 09/05/03SEC ID: 99409X734BROKER: 9/8/2003 LEHMAN GOVT SECS TNC, NYOCSF0751 l 102: 91812003 rJQOID OPER-PlMCO LEHMAN CAT 2 REPO 00.970% 09/09/2003 9/9/2003 DD 09/08/03SEC ID: 99409Y906BROKER: 9/9/2003 LEHMAN GOVT_ SECS INC, NYOCSF075 ll 102: 9/ 120 3 LIQUID OPER-PrMCO 9 0 LEHMAN CAT 2 REPO 00.970% 09/09/2003 9/9/2003 DD 09/08/03SEG: ID: 99409Y906BROKER: 9/9/2003 LEHMAN GOVT SECS INC, NYOCSF075 l l 102: 91912003 LlQUID OPER-PIMCO LEHMAN CAT 2 REPO 00.930% 09/10/2003 9/10/2003 DD 09/09/03SECID: 99410A327BROKER: 9/10/2003 LEJHMAN GOVT SECS INC, NY0CSF0751 l 102: 9 / 1012003 L1QUID OPER-PIMCO LEHMAN CAT 2 REPO 00.930% 09/10/2003 9/10/2003 DD 09/09/03SEC ID: 99410A327BROKER: 9/10/2003 LEHMAN GOVT SECS INC, NYOCSF075 l 1102: 9/ 1012003 LIQUID OPER-PIMCO LEHMAN CAT 2 REPO 00.930%09/11/2003 9/11/2003 DD 09 / 10 /03SEC ID: 99410B739BROKER: 9/11/2003 LEHMAN GOVT SECS INC, NYOCSF0751 l 102: 9/ l112003 LIQUID OPER-PIMCO LEHMAN CAT 2 REPO 00.930% 09/11/2003 9/11/2003 DD 09/10/03SEC ID: 99410B739BROKER: 9/11/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 9/ll/2003 LIQUID OPER-P:IMCO LEHMAN CAT 2 REPO 00.990% 09/12/2003 9/12/2003 DD 09/ ll/03SEC ID: 99410D065BROKER: 9/12/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 911212003 LIQUID OPER-PIMCO Price Base 100.0000 100.0000 100.0000 100.0000 100.0000 100.0000 100.0000 100.0000 100.0000 100.0000 7 Shares/Par 0.000 -3,200,000.000 0.000 -3,200,000.000 0.000 -3,200,000.000 0.000 -3,200,000.000 0.000 -3,200,000.000 Cost Base 0.00 -3,200,000.00 0.00 -3,200,000.00 0.00 -3,200,000.00 0.00 -3,200,000.00 0.00 -3,200,000.00 ReportW, EWB009 -, Base Currency: USD Status: FINAL Amount Base 86.22 3,200,000.00 240.00 3,200,000.00 86.22 3,200,000.00 82.67 3,200,000.00 82.67 3,200,000.00 Net Gain/Loss Base 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Workbench Transaction Detail ReportID: EWB009 Reportedby Transaction Category Base Currency: USD I OCSD-CONSOUDATED -OCSGO00l0000 9/2/2003 -9/30/2003 Status: FINAL ---~--Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IS LEHMAN CAT2REPO 00.990% 09/12/2003 9/12/2003 100.0000 0.000 0.00 88.00 0.00 DD 09/11/03SECID: 99410D065BROKER: 9/12/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 9/ 1212003 LIQUID OPER-PIMCO s LEHMANCAT2 REPO 01.000%09/15/2003 9/15/2003 100.0000 -3,200,000.000 -3,200,000.00 3,200,000.00 0.00 DD 09/12/0JSEC ID: 99410E337BROKER: 9/15/2003 LEHMAN GOVT SECS INC, NYOCSF07511102:9/lS/2003 LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 01.000%09/ 15/2003 9/15/2003 100.0000 0.000 0.00 266.67 0.00 DD 09/12/03SECID: 99410E337BROKER: 9/15/2003 LEHMAN GOVT SECS INC, NYOCSF07511102:9 /lS/2003 LIQUID OPER-PIMCO s LEHMAN CAT2 REPO Ol.100%09/16/2003 9/16/2003 100.0000 -3,900,000.000 -3,900,000.00 3,900,000.00 0.00 DD 09/15/03SEC lD: 99410F730BROKER: 9/16/2003 LEHMAN GOVT SECS INC, NYOCSF075Ill02:9 /l6/2003 LIQUID OPER-PIMCO rs LEHMAN CAT 2 REPO 01.100% 09/ 1.6/2003 9/16/2003 100.0000 0.000 0.00 119.17 0.00 DD 09/15/03SEC ID: 99410F730BROKER: 9/16/2003 LEHMAN GOVT SECS INC, NYOCSF0751 l 102: 9/ 1612003 LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 00.990% 9/17/2003 100.0000 -3,900,000.000 -3,900,000.00 3,900,000.00 0.00 09/17/2003 DD 09 / 16 /03SEC ID: 9/17/2003 99410F953BROKER: CREDIT SUISSE FIRST 9/17/2003 BOSTON CORP, N YOCSF0751 l 102: LIQUID IS e~B1J?J~sE FB REPO 00.990% 9/17/2003 100.0000 0.000 0.00 107.25 0.00 09/17/2003 DD 09/16/03SEC ID: 9/17/2003 99410F953BROKER: CREDIT SUISSE FIRST 9/17/2003 BOSTON CORP, N YOCSF07511102: LIQUID s ~~ 2 REPO 00.930% 09/18/2003 9/18/2003 100.0000 -2,900,000.000 -2,900,000.00 2,900,000.00 0.00 DD 09 / 17 /03SEC ID: 99410J385BROKER: 9/18/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 911812003 LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 00.930%09/18/2003 9/18/2003 100.0000 0.000 0.00 74.92 0.00 DD 09/17 /03SEC ID: 99410J385BROKER: 9/18/2003 LEHMAN GOVT SECS INC, NYOCSF07511102:9/lB/2003 LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00.950% 09/19/2003 9/19/2003 100.0000 -2,900,000.000 -2,900,000.00 2,900,000.00 0.00 DD 09/18/03SEC ID: 99410K879BROKER: 9/19/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 9/ 1912003 LIQUID OPER-PIMCO 8 Workbench Transaction Detail Report ID: EWB009 l OCSD-CONSOUDATED -OCSGO00l0000 Reportedby Transaction Category Base Currency: USD 9/2/2003 -9/30/2003 Status: FINAL --------Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IS LEHMAN CAT 2 REPO 00.950% 09/19/2003 9/19/2003 100.0000 0.000 0.00 76.53 0.00 DD 09/ 18/03SEC ID: 99410K8798ROKER: 9/19/2003 LEHMAN GOVT SECS INC, NYOCSF07511102:9/l9/2003 LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00.920% 09/22/2003 9/22/2003 100.0000 -4,400,000.000 -4,400,000.00 4,400,000.00 0.00 DD 09/19/03SEC ID: 99410M255BROKER: 9/22/2003 LEHMAN GOVT SECS INC, NYOCSF07511102:912212003 LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 00.920% 09/22/2003 9/22/2003 100.0000 0.000 0.00 337.33 0.00 DD 09/19/03SEC ID: 99410M255BROKER: 9/22/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 912212003 LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00.960% 09/23/2003 9/23/2003 100.0000 -4,300,000.000 -4,300,000.00 4,300,000.00 0.00 DD 09/22/03SEC ID: 99410N600BROKER: 9/23/2003 LEHMAN GOVT SECS INC, NYOCSF07511102:912312003 LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 00.960% 09/23/2003 9/23/2003 100.0000 0.000 0.00 114.67 0.00 DD 09/22/03SEC ID: 99410N600BROKER: 9/23/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 912312003 LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00. 960% 09/24/2003 9/24/2003 100.0000 -5,300,000.000 -5,300,000.00 5,300,000.00 0.00 OD 09/23/03SEC ID: 99410Q017BROKER: 9/24/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 912412003 LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 00.960% 09/24/2003 9/24/2003 100.0000 0.000 0.00 141.33 0.00 DD 09/23/03SEC ID: 99410Q017BROKER: 9/24/2003 LEHMAN GOVT SECS INC, NYOCSF075ll102:912412003 LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00.980% 09/25/2003 9/25/2003 100.0000 -1,500,000.000 -1,500,000.00 1,500,000.00 0.00 DD 09/24/03SEC ID: 99410R3 87BROKER: 9/25/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 912512003 LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 00.980% 09/25/2003 9/25/2003 100.0000 0.000 0.00 40.83 0.00 DD 09/24/03SEC ID: 99410R387l?ROKER: 9/25/2003 LEHMAN GOVT SECS INC, NYOCSF07511102: 912512003 LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 01.000% 9/26/2003 100.0000 -1,500,000.000 -1,500,000.00 1,500,000.00 0.00 09/26/2003 DD 09/25/03SEC ID: 9/26/2003 99410R577BROKER: CRED1T SUISSE FIRST 9/26/2003 BOSTON CORP, N YOCSF07511102: LIQUID OPER-PIMCO 9 Workbench Transaction Detail ReportID: EWB009 Reportedby Transaction Category Base Currency: USD OCSD-CONSOUDATED -OCSGO00l0000 9/2/2003 -9/30/2003 Status: FINAL --- Trade Date Tran Settle Date· Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IS CREDIT SUISSE FB REPO O 1.000% 9/26/2003 100.0000 0.000 0.00 41.67 0.00 09/26/2003 DD 09/25/03SEC ID: 9/26/2003 99410R577BROKER: CREDIT SUISSE FIRST 9/26/2003 BOSTON CORP, N YOCSF07511102: LIQUID s B~Jf'tlMTREASURY CASH MGMTSEC ID: 9/2/2003 1.0000 -561,059.270 -561,059.27 561,059.27 0.00 996085247OCSF07522202: LONG TERM 9/2/2003 OPER-PIMCO 9/2/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/8/2003 1.0000 -980,065.530 -980,065.53 980,065.53 0.00 996085247OCSF07511102: LIQUID OPER-9/8/2003 PIMCO 9/8/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/11/2003 1.0000 -3,097,081.790 -3 ,097 ,081. 79 3,097,081.79 0.00 996085247OCSF07522202: LONG TERM 9/11/2003 OPER-PIMCO 9/11/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/15/2003 1.0000 -26,513.330 -26,513.33 26,513.33 0.00 996085247OCSF07511102: LIQUID OPER-9/15/2003 PIMCO 9/15/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/17/2003 1.0000 -1,938.420 -1,938.42 1,938.42 0.00 996085247OCSF07511102: LIQUID OPER-9/17/2003 PIMCO 9/17/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/17/2003 1.0000 -2,982,161.300 -2,982, 161.30 2,982,161.30 0.00 996085247OCSF07522202: LONG TERM 9/17/2003 OPER-PIMCO 9/17/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/18/2003 1.0000 -2,954,865.650 -2,954,865.65 2,954,865.65 0.00 996085247OCSF07522202: LONG TERM 9/18/2003 OPER-PIMCO 9/18/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/19/2003 1.0000 -61,008.030 -61,008.03 61,008.03 0.00 996085247OCSF07522202: LONG TERM 9/19/2003 OPER-PIMCO 9/19/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/22/2003 1.0000 -4,298,535.170 -4,298,535.17 4,298,535.17 0.00 99608524 7OCSF075 ll 102: LIQUID OPER-9/22/2003 PIMCO 9/22/2003 10 Workbench Transaction Detail ReportlD: EWB009 Reportedby Transaction Category Base Currency: USD OCSD-CONSOUDATED -OCSGO00l0000 9/2/2003 -9/30/2003 Status: FINAL ---------Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base s DREYFUS TREASURY CASH MGMTSEC ID: 9/22/2003 1.0000 -9,814.930 -9,814.93 9,814.93 0.00 996085247OCSF07522202: LONG TERM 9/22/2003 OPER-PIMCO 9/22/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/26/2003 1.0000 -491,305.640 -491,305.64 491,305.64 0.00 996085247OCSF07522202: LONG TERM 9/26/2003 OPER-PIMCO 9/26/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/29/2003 1.0000 -1,792,008.000 -1,792,008.00 1,792,008.00 0.00 996085247OCSF07522202: LONG TERM 9/29/2003 OPER-PIMCO 9/29/2003 s DREYFUS TREASURY CASH MGMTSEC ID: 9/30/2003 1.0000 -1,595.100 -1,595.10 1,595.10 0.00 996085247OCSF07511102: LIQUID OPER-9/30/2003 PIMCO 9/30/2003 TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: -70,257,952.160 -70,257 ,952.16 70,259,938.31 0.00 TOTAL CASH & CASH EQUIVALENTS BASE: -70,257,952.160 -70,257,952.16 70,259,938.31 0.00 FIXED INCOME SECURITIES U.S. DOLLAR s COMMIT TO PUR FNMA SF MTG 5.000% 9/12/2003 102.0352 -3,000,000.000 -2,997,065.22 3,061,054.69 63,989.47 09/01/2018 DD 09/01/03SEC ID: 9/18/2003 01F050494BROKER: BEAR STEARNS & CO 9/12/2003 INC, NYOCSF07522202: LONG TERM OPER- s ~IT TO PUR FNMA SF MTG 5.000% 9/15/2003 101.6914 -2,000,000.000 -1,998,043.48 2,033,828.13 35,784.65 09/01/2018 DD 09/01/03SEC ID: 9/18/2003 01F050494BROKER: LEHMAN GOVT SECS 9/15/2003 INC, NYOCSF07522202: LONG TERM OPER- s ~IT TO PUR FNMA SF MTG 5.000% 9/15/2003 101.7188 -18,000,000.000 -17,982,391.30 18,309,375.00 326,983.70 09/01/2018 DD 09/01/03SEC ID: 9/18/2003 01F050494BROKER: CREDIT SU1S~E FIRST 9/15/2003 BOSTON CORP, N YOCSF07522202. LONG s ~Pf6j'Bl{~MA SF MTG 6.000% 9/11/2003 102.6406 -1,000,000.000 -1,015,625.00 1,026,406.25 10,781.25 09/01/2033 DD 09/01/03SEC ID:. 9/15/2003 01F060691BROKER: CREDIT SUISSE FIRST 9/11/2003 BOSTON CORP, N YOCSF07522202: LONG TERM OPER-PIMCO 11 Workbench OCSl).CONSOLlDATED-OCSGO00l0000 Transaction Detail Reportedby Transaction Category 9/2/2003 -9/30/2003 ----------- Tran Trade Date Settle Date ·Reported Date Type Description s IS s IS s IS s IS s IS FNMA POOl,,#0545998 6.000% 9/11/2003 11/0l/2032'DD l0/01/02SECID: 9/15/2003 31385JRT7BROKER: BK OF AMEiR NATL TR & SVGS CTRYWIDE, CAOCSF07522202: LONG 9/ll/2003 ~m>( 0~£~~5998 6,000% 9/11/2003 11/01/2032 DD 10/0l/02SEC ID: 9/15/2003 31385JRT7BROKER: BK OF AMER NATL TR & SVGS CTRYWIDE, CAOCSF07522202: LONG 9 /11/2003 ~iU}( OWBtf'Mfs~s998 6.000% 9/11/2003 11/01/2032 DD 10/0l/02SEC ID: 9/15/2003 31385JRT7BROKER: ClTIGROUP GBL MKTS/SALOMON, NEW YORKOCSF07522202: 9 / l l /200J }9~ TW6f)J1g§.4~~95.ooo% 9/ 11;2003 ll/01/2032 DD 10/01/02SEC ID: 9/15/2003 31385JRT7BROKER: ClTIGROUP GBL MKTS/SALOMON, NEW YORKOCSF07522202: 9/ ll/2003 Ff~~ ~1?W!,!¼g!i.'Mt(l:;.ooo% 9 / 11 / 200a 11/01/2032 DD 10/01/02SEC ID: 9/15/2003 3 J 385JRT7BROKER: CHASE SECtTRlTIES, NEW YORKOCSF07522202; LONG TERM 9 / l l /200J ~-PIMS'Br, #10545998 6.000% 9 / 11 /2003 11/01/2032 DD 10/0l/02SEC ID: 9/15/2003 31385JRT78.ROKER; CHASE SECURITIES, 9 / l l 12003 NEWYORKOCSF07522202: LONG TERM fmM-P1¾5&L 110545998 6.000% 9/11/2003 11/01/2032 DD 10/01/02SEC JD· 9/15/2003 31385JR17BROl<ER: BANC OF AMERICA SEC LLC, SAN FRANCISCOOCSF07522202: LONG 9 / l1 /2003 1'iYA Oip8bf!MJs~599g 6.000% 9/11/2003 11/01/2032 DD 10/01/02SECID: 9/15/2003 31385JR17BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCOOCSF07522202: LONG 9/ll/2003 ~~ 0 mbE1Mfs~5998 6.000% 9/11/2003 11/01/2032 DD 10/01/02SEC ID: 9/15/2003 31385JRT7BROKER: GOLDMAN SACHS & CO, NYOCSF07522202: LONG TERM OPER-9/ll/2003 ~ POOL#0545998 6.000% 9/11/2003 11/01/2032 DD 10/0l/02SEC ID: 9/15/2003 31385JRT7BROKER: GOLDMAN SACHS & CO, NYOCSF07522202: LONGTERM OPER-9/ll/2003 PIMCO Price Base 102.5859 102.5859 102.5781 102.5781 102.5781 102.5781 102.5820 102.5820 102.5469 102.5469 12 Shares/Par -45,635.070 0.000 -342,261.200 0.000 -76,210.040 0.000 -79,860.720 0.000 -124,583.120 0.000 Cost Base -47,460.47 0.00 -355,951.65 0.00 -79,258.44 0 .00 -83,055.15 0.00 -129,566.45 0.00 Report ID: EWB009 Base Currency: USD Status: FINAL Amount Base 46,815.17 106.48 351,085.12 798.61 78,174.83 177.82 81,922.75 186.34 127,756.09 290.69 Net Gain/Loss Base -645.30 0.00 -4,866.53 0.00 -1,083.61 0.00 -1,132.40 0.00 -1,810.36 0.00 Workbendi OCSD-CONSOUDATED • OCSGOOOlOOOO Transaction Detail Reportedby Transaction Category 9/2/2003-9/30/2003 Tran Type Description Trade Date Settle Date Reported Date TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: TOTAL FIXED INCOME SECURITIES BASE: PRINCIPAL PAYMENTS FIXED INCOME SECURITIES U.S. DOLLAR PD GNMA GTD REMIC TR 2000-9 FH VAR RT 02/16/2030SEC ID: 3837H4NX9OCSF07522202: LONG TERM OPER-PIMCO MATURITIES CASH & CASH EQUIVALENTS U.S. DOLLAR MT MT MT MT FEDERAL AGRIC MTG CORP DISCOUN 0.000% 09/23/2003 DD 09/23/02SEC ID: 31315KMB3OCSF07522202 : LONG TERM OPER-PIMCO FEDERAL AGRIC MTG CORP DISCOUN 0.000% 09/23/2003 DD 09/23/02SEC ID: 313 l 5KMB3OCSF075 ll l 02: LIQUID OPER- PIMCO FEDERAL HOME LN BK CONS DISC N MAT 09/19/2003SEC ID: 313384LXSOCSF07511102: LIQUID OPER- PIMCO FEDERAL HOME LN BK CONS DISC N MAT 09 I 19 / 2003S,EC ID: 3 13384LXSOCSF07522202: LONG TERM OPER-PIMCO I TOTAL SALES BASE: 9/16/2003 9/16/2003 9/16/2003 9/23/2003 9/23/2003 9/23/2003 9/23/2003 9/23/2003 9/23/2003 9/19/2003 9/19/2003 9/19/2003 9/19/2003 9/19/2003 9/19/2003 MT US TREASURY BILL 0.0000/o 09/p4/2003 DD 9/4/2003 03/06/03SEC ID:912795NL1OCSF07511102:9;4;2003 LIQUID OPER-PIMCO '. 9/4/2003 TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: Price Base 100.0000 100.0000 100.0000 100.0000 100.0000 100.0000 Shares/Par -24,668,550.150 -24,668,550.150 -94,926,502.310 -37,407.830 -9, 700,000.000 -2,400,000.000 -2,400,000.000 -9,700,000.000 -3,200,000.000 -27,400,000.000 13 Cost Base -24,688,417.16 -24,688,417.16 -94,946,369.32 -37,407.83 -9,692,078.33 -2,398,040.00 -2,398,368.00 -9,693,404.00 -3,199,504.00 -27,381,394.33 Report ID: EWB009 Base Currency: USD Status: FINAL Amount Base 25,117,977.97 25,117,977.97 95,377,916.28 37,407.83 9,692,078.33 2,398,040.00 2,398,368.00 9,693,404.00 3,199,504.00 27,381,394.33 Net Gain/Loss Base 428,000.87 428,000.87 428,000.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Workbench OCS~CONSOUDATED -OCSGO00l0000 Tran Type Description Transaction Detail Reportedby Transaction Category 9/2/2003 -9/30/2003 Trade Date Settle Date Reported Date Price Base Shares/Par Cost Base TOTAL CASH & CASH EQUIVALENTS BASE: -27 ,400,000.000 -27,381,394.33 FIXED INCOME SECURITIES U.S. DOLLAR MT PROCTER & GAMBLE CO NTS 5.250% 09/15/2003 DD 09/28/98SEC ID: 742718BK4OCSF07511102: LIQUID OPER- PIMCO 9/15/2003 9/15/2003 9/15/2003 TOTAL MATURITIES BASE: CORPORATE ACTIONS FIXED INCOME SECURITIES U.S. DOLLAR CAL FHLMC MULTICLASS CTF Tl 1 A6 6.500% 9/25/2003 09/25/2018SEC ID: 9/25/2003 3133TDPV2OCSF07522202: LONG TERM OPER-PIMCO 9/25/2003 INTEREST CASH & CASH EQUIVALENTS U.S. DOLLAR IT FEDERAL AGRIC MTG CORP DISCOUN 9/23/2003 0.000% 09/23/2003 DD 09/23/02SEC ID: 9/23/2003 31315KMB3OCSF07522202: LONG TERM 9/23/2003 OPER-PIMCO IT FEDERAL AGRIC MTG CORP DISCOUN 9/23/2003 0.000% 09/23/2003 DD 09/23/02SEC ID: 9/23/2003 31315KMB3OCSF07511102: LIQUID OPER-9/23/2003 PIMCO IT FEDERAL HOME LN BK CONS DISC N MAT 9/19/2003 09/19/2003SEC ID: 9/19/2003 313384LX5OCSF07511102: LIQUID OPER-9/19/2003 PIMCO IT FEDERAL HOME LN BK CONS DISC N MAT 9/19/2003 09/19/2003SEC ID: 9/19/2003 313384LX5OCSF07522202: LONG TERM 9/19/2003 OPER-PIMCO IT U S TREASURY BILL 0 .000% 09/04/2003 DD 9/4/2003 03 /06 / 03SEC ID: 912795NL!OCSF0751 l 102: 9/4/2003 LIQUID OPER-PIMCO 9/4/2003 100.0000 -656,000.000 -672,278.56 -28,056,000.000 -28,053,672.89 100.0000 -134,761.080 -134,820.91 0.000 7,921.67 0.000 1,960.00 2,400,000.000 1,632.00 9,700,000.000 6,596.00 3,200,000.000 496.00 14 ReportlD: EWB009 Base Currency: USD Status: FINAL Amount Base 27,381,394.33 656,000.00 28,037,394.33 134,761.08 7,921.67 1,960.00 1,632.00 6,596.00 496.00 Net Gain/Loss Base 0.00 -16,278.56 -16,278.56 -59.83 0.00 0.00 0.00 0.00 0 .00 Workbench I ~~roffl~~TD-00~10000 Transaction Detail Reportedby Transaction Category 9/2/2003 -9/30/2003 Tran Trade Date Settle Date Reported Date Type Description CD cw IT IT IT SHORT TERM FDS INT ADJ NET OF OVERNIGHT INTERESTSEC ID: 990000PJ4OCSF07522202: LONG TERM OPER-PIMCO SHORT TERM FDS INT ADJ NET OF OVERNIGHT INTERESTSEC ID: 990000PJ4OCSF075 l l 102: LIQUID OPER- PIMCO DREYFUS TREASURY CASH MGMTSEC ID: 996085247OCSF07522202: LONG TERM OPER-PIMCO DREYFUS TREASURY CASH MGMTSEC ID: 996085247OCSF075 l 1102: LIQUID OPER- PIMCO BSDT-LATE MONEY DEPOSIT ACCTSEC ID: 996087094OCSF07522202: LONG TERM OPER-PIMCO 9/30/2003 9/30/2003 9/30/2003 9/30/2003 9/30/2003 9/30/2003 9/3/2003 9/1/2003 9/3/2003 9/3/2003 9/1/2003 9/3/2003 9/2/2003 9/1/2003 9/2/2003 TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: TOTAL CASH & CASH EQUIVALENTS BASE: FIXED INCOME SECURITIES U.S. DOLLAR IT IT IT WMP/HUNTOON PAIGE #000-11150 7.500% 12/01/2030 DD 10/21/99SEC ID: 302998GE3OCSF07522202: LONG TERM OPER-PIMCO FHLMC GROUP #G4-0353 7.5000/o 10/01/2004 DD 03/01/99SEC ID: 3128DBMA2OCSF07522202: LONG TERM OPER-PIMCO FHLMC MULTICLASS MTG SER E3 A VAR RT 08/15/2032 DD 12/0l/97SEC ID: 3133TCE95OCSF07522202: LONG TERM OPER-PIMCO 9/30/2003 9/1/2003 9/30/2003 9/15/2003 9/1/2003 9/15/2003 9/15/2003 8/1/2003 9/15/2003 Price Base Shares/Par 0.000 0.000 0.000 0.000 0.000 15,300,000.000 15,300,000.000 753.590 3,159.450 35,440.500 15 Cost Base 14.71 -1,595.10 655.46 332.27 0.22 18,013.23 18,013.23 5,931.04 695.95 4,311.85 ReportID: EWB009 Base Currency: USD Status: FINAL Amount Base 14.71 -1,595.10 655.46 332.27 0.22 18,013.23 18,013.23 5,931.04 695.95 4,311.85 Net Gain/Loss Base 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Workbench ------Transaction Detail ReportID: EWB009 Reportedby Transaction Category Base Currency: USD j_OCSD-CONSOUDA:ED-OCSGO00l0000 9/2/2003 -9/30/2003 Status: FINAL ------ Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT FHLMC MULTICLASS MTG SER E3 A VAR RT 9/15/2003 8.450 8.45 8.45 0 .00 08/15/2032 DD l2/0l/97SEC ID: 8/1/2003 3133TCE950CSF07522202; LONG TERM 9/15/2003 OPER-PIMCO IT FHLMC MULTICLASS CTF Tl 1 A6 6.500% 9/25/2003 0.000 729.96 729.96 0.00 09/25/2018SEC ID: 9/1/2003 3133TDPV20CSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FHLMC MULTICLASS CTF SER 16202 6.000% 9/15/2003 14,787.100 14,787.10 14,787.10 0.00 11/15/2023 DD ll/Ol/93SEC ID: 9/1/2003 3133Tl 7 A40CSF07522202: LONG TERM 9/15/2003 OPER-PlMCO IT FHLMC GROUP #78-6064 6.384% 9/18/2003 1,176.030 282.67 282.67 0.00 01/01/2028 DD 12/01/97SEC ID: 8/1/2003 3 l 348SWZ30CSF07522202: LONG TERM 9/18/2003 OPER-PlMCO IT FEDERAL NATL MTG ASSN DEBS 6.625% 9/15/2003 2,100,000.000 69,562.50 69,562.50 0.00 09/15/2009 DD 09/0l/99SEC ID: 9/15/2003 31359MEY50CSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT FNMA POOL #0254760 5.000% 9/25/2003 4,195.040 719.14 719.14 0.00 06/01/2018 DD 05/01/03SEC ID: 9/1/2003 3l371KSV90CSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0254866 5.000% 9/25/2003 356.160 300.66 300.66 0 .00 09/01/2018 DD 08/0l/03SEC ID: 9/1/2003 31371LCB30CSF07522202: LONG TERM 9/25/2003 OPER-PJMCO IT FNMA POOL #0323980 6.000% 9/25/2003 22,082.820 1,335.72 1,335.72 0.00 04/01/2014 DD 09/0l/99SEC ID; 9/1/2003 31374T2MOOCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0357328 5.000% 9/26/2003 4,602.010 6,614.74 6,614.74 0.00 01/01/2018 DD Ol/01/03SEC ID: 9/1/2003 31376J4M80CSF07522202: LONG TERM 9/26/2003 OPER-PlMCO IT FNMA POOL #0456482 6.000% 9/25/2003 15,120.000 497.30 497.30 0.00 02/01/2014 DD 02/01/99SEC ID: 9/1/2003 3 l 381CCT20CSF07522202: LONG TERM 9/25/2003 OPER-PIMCO 16 Workbench Transaction Detail Report ID: EWB009 Reportedby Transaction Category Base Currency: USD OCSD-CONSOUDATED -OCSGO00l0000 9/2/2003 -9/30/2003 Status: FINAL ---------Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT FNMA POOL #0509649 6.000% 9/25/2003 23,043.770 1,325.20 1,325.20 0.00 09/01/2014 DD 09/01/99SEC ID: 9/1/2003 31383QEW0OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0535451 6.000% 9/25/2003 19,558.110 1,071.91 1,071.91 0.00 06/01/2015 DD 07 /01/00SEC ID: 9/1/2003 31384VZQ8OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0535672 6.000% 9/25/2003 405,964.560 23,365.08 23,365.08 0.00 01/01/2016 DD 12/01/00SEC ID: 9/1/2003 31384WCH10CSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0545296 6.000% 9/25/2003 162,895.790 8,015.20 8,015.20 0.00 11/01/2016 DD 10/01/0lSEC ID: 9/1/2003 31385HXZ0OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0545580 6.000% 9/25/2003 12,131.970 657.09 657.09 0.00 03/01/2017 DD 03/01/02SEC ID: 9/1/2003 31385JCR7OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0545998 6.000% 9/25/2003 100,672.940 5,000.50 5,000.50 0.00 11/01/2032 DD 10/0l/02SEC ID: 9/1/2003 31385JRT7OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0555101 6.000% 9/25/2003 19,026.080 1,124.27 1,124.27 0.00 10/01/2017 DD 11/0l/02SEC ID: 9/1/2003 31385WU23OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0555285 6.000% 9/25/2003 85,767.840 5,000.50 5,000.50 0.00 03/01/2033 DD 02/0l/03SEC ID: 9/1/2003 31385W2S7OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0555363 5.000% 9/25/2003 3,215.150 343.73 343.73 0.00 04/01/2018 DD 03/0l/03SEC ID: 9/1/2003 31385W5Y10CSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0555363 5.000% 9/29/2003 13,142.890 1,405.11 1,405.11 0.00 04/01/2018 DD 03/01/03SEC ID: 9/1/2003 31385W5Y10CSF07522202: LONG TERM 9/29/2003 OPER-PIMCO 17 Workbench r-Transaction Detail Report ID: EWB009 Reportedby Transaction Category Base Currency: USD OCSD-CONSOLIDATED -OCSGO00l0000 9/2/2003 -9/30/2003 Status: FINAL -------- Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT FNMA POOL #0555528 6.000% 9/25/2003 97,794.590 5,000.50 5,000.50 0.00 04/01/2033 DD 05/01/03SEC ID: 9/1/2003 31385XD95OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0555545 5.000% 9/29/2003 12,805.650 1,467.91 1,467.91 0.00 06/01/2018 DD 05/01/03SEC ID: 9/1/2003 31385XES2OCSF07522202: LONG TERM 9/29/2003 OPER-PIMCO IT FNMA POOL #0555640 6.000% 9/25/2003 94,470.410 5,000.50 5,000.50 0.00 07/01/2033 DD 06/01/03SEC ID: 9/1/2003 31385XHR10CSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0576386 6.000% 9/25/2003 6,977.570 430.00 430.00 0.00 05/01/2016 DD 05/01/0lSEC ID: 9/1/2003 31386XJ72OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0576739 6.000% 9/25/2003 29,188.720 1,266.42 1,266.42 0.00 04/01/2016 DD 04/01/0lSEC ID: 9/1/2003 31386XV86OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0580888 6.000% 9/25/2003 27,721.940 1,462.50 1,462.50 0.00 05/01/2016 DD 05/01/0lSEC ID: 9/1/2003 31387DJ910CSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0594002 6.000% 9/25/2003 6,022.840 1,083.10 1,083.10 0.00 07/01/2016 DD 07 /01/0lSEC ID: 9/1/2003 31387T3K8OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0597376 6.000% 9/25/2003 1,611.600 1,350.16 1,350.16 0.00 09/01/2016 DD 08/01/0lSEC ID: 9/1/2003 31387XT96OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0605259 6.000% 9/25/2003 73,137.720 1,379.06 1,379.06 0.00 09/01/2016 DD 09/01/0lSEC ID: 9/1/2003 31388HMG10CSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0608366 6.000% 9/25/2003 3,352.440 774.06 774.06 0.00 10/01/2016 DD 09/01/0lSEC ID: 9/1/2003 31388LZ78OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO 18 Workbench I ------------- Transaction Detail Report ID: EWB009 I OCSD-CONSOLIDATED -OCSGO00l0000 Reportedby Transaction Category Base Currency: USD 9/2/2003 -9/30/2003 Status: FINAL -- Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description .Reported Date Base Shares/Par Base Base Base IT FNMA POOL #0616734 6.000% 9/25/2003 695.110 866.90 866.90 0.00 12/01/2016 DD 12/01/0lSEC ID: 9/1/2003 31388WEF9OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0630812 6.000% 9/25/2003 47,295.300 1,317.04 1,317.04 0.00 02/01/2017 DD 02/0l/02SEC ID: 9/1/2003 31389NYH2OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0632376 6.000% 9/25/2003 113,506.300 5,427.42 5,427.42 0.00 07/01/2017 DD 07 /01/02SEC ID: 9/1/2003 31389QQ50OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0653116 6.000% 9/25/2003 56,915.630 3,069.74 3,069.74 0.00 07/01/2017 DD 07 /0l/02SEC ID: 9/1/2003 31390QSD8OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0673280 6.000% 9/25/2003 11,051.010 1,269.43 1,269.43 0.00 08/01/2017 DD ll/0l/02SEC ID: 9/1/2003 31391P6R2OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0681309 5.000% 9/25/2003 24,558.280 2,640.72 2,640.72 0.00 02/01/2018 DD 02/01/03SEC ID: 9/1/2003 31391Y3S4OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0685665 5.0000/o 9/25/2003 1,640.430 168.35 168.35 0.00 02/01/2018 DD 02/0l/03SEC ID: 9/1/2003 31400EW22OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0688739 5.000% 9/25/2003 582.280 549.41 549.41 0.00 06/01/2018 DD 06/01/03SEC ID: 9/1/2003 31400JEL9OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0693834 5.000% 9/25/2003 9,007.660 3,273.52 3,273.52 0.00 03/01/2018 DD 03/01/03SEC ID: 9/1/2003 31400PY74OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0695889 5.0000/o 9/25/2003 41,363.360 3,827.93 3,827.93 0.00 05/01/2018 DD 05/0l/03SEC ID: 9/1/2003 31400SC23OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO 19 Workbench Transaction Detail Report ID: EWB009 Reportedby Transaction Category Base Currency: USD OCSD-CONSOUDATED -OCSGOOOl0OOO 9/2/2003 -9/30/2003 Status: FINAL ------Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT FNMA POOL #0698939 6.000% 9/25/2003 559.290 694.12 694.12 0.00 09/01/2017 DD 03/01/03SEC ID: 9/1/2003 31400VPY2OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0703195 6.000% 9/25/2003 835.860 428.63 428.63 0.00 01/01/2017 DD 04/0l/03SEC ID: 9/1/2003 31401BGC3OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT FNMA POOL #0710235 5.000% 9/25/2003 11,940.120 3,527.44 3,527.44 0.00 06/01/2018 DD 06/01/03SEC ID: 9/1/2003 31401KBC8OCSF07522202: LONG TERM 9/25/2003 OPER-PIMCO IT GNMA POOL #0596612 6.500% 9/15/2003 110,203.640 2,971.94 2,971.94 0.00 09/15/2032 DD 09/01/02SEC ID: 9/1/2003 36200BYH4OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0569358 6.500% 9/15/2003 163,265.260 8,901.13 8,901.13 0.00 04/15/2032 DD 04/0l/02SEC ID: 9/1/2003 36200QQK3OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0569685 6.500% 9/15/2003 7,014.510 388.07 388.07 0.00 02/15/2032 DD 02/01/02SEC ID: 9/1/2003 36200Q2S2OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0570019 6.500% 9/22/2003 13,916.840 663.32 663.32 0.00 07/15/2032 DD 07 /0l/02SEC ID: 9/1/2003 36200RG48OCSF07522202: LONG TERM 9/22/2003 OPER-PIMCO IT GNMA POOL #0574323 6.500% 9/15/2003 54,035.070 4,139.67 4,139.67 0.00 12/15/2031 DD 12/01/0lSEC ID: 9/1/2003 36200WAY7OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0575364 6.500% 9/15/2003 10,249.210 437.20 437.20 0.00 11/15/2031 DD 11/01/0lSEC ID: 9/1/2003 36200XFD6OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0587117 6.500% 9/15/2003 3,074.060 163.46 163.46 0.00 06/15/2032 DD 06/0l/02SEC ID: 9/1/2003 36201MG220CSF07522202: LONG TERM 9/15/2003 OPER-PIMCO 20 Workbench Transaction Detail ReportID: EWB009 Reportedby Transaction Category Base Currency: USD ' OCSD-CONSOUDATED -OCSGOO0lOOOO 9/2/2003 -9/30/2003 Status: FINAL -Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description -Reported Date Base Shares/Par Base Base Base IT GNMA POOL #0587439 6.500% 9/15/2003 12,496.440 505.45 505.45 0.00 11/15/2032 DD 12/0l/02SEC ID: 9/1/2003 36201MS45OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0421389 6.500"/o 9/15/2003 2,258.620 110.30 110.30 0.00 04/15/2026 DD 04/0l/96SEC ID: 9/1/2003 36206UC23OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0438057 6.000"/o 9/15/2003 40.540 147.73 147.73 0.00 05/15/2028 DD 05/0l/98SEC ID: 9/1/2003 36207PTN9OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0449851 6.500% 9/15/2003 5,085.980 174.30 174.30 0.00 01/15/2028 DD 0l/01/98SEC ID: 9/1/2003 36208FWLOOCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0457814 6.000% 9/15/2003 4,128.020 233.90 233.90 0.00 10/15/2028 DD 10/0l/98SEC ID: 9/1/2003 36208QSB3OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0465546 6.000"/o 9/15/2003 85,189.230 2,961.26 2,961.26 0.00 08/15/2028 DD 08/0l/98SEC ID: 9/1/2003 36209AET3OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0465555 6.000% 9/15/2003 17,776.120 2,938.13 2,938.13 0.00 09/15/2028 DD 09/0l/98SEC ID: 9/1/2003 36209AE48OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0466845 6.500% 9/15/2003 5,841.430 514.98 514.98 0.00 06/15/2028 DD 06/01/98SEC ID: 9/1/2003 36209BTA6OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0467279 6.000% 9/15/2003 228.160 116.03 116.03 0.00 10/15/2028 DD 10/01/98SEC ID: 9/1/2003 36209CCQ7OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0467286 6.000% 9/15/2003 39,063.300 2,478.19 2,478.19 0.00 10/15/2028 DD 10/01/98SEC ID: 9/1/2003 36209CCX2OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO 21 Workbench ···---------Transaction Detail Report ID: EWB009 Reportedby Transaction Category Base Currency: USD OCSD-CO.NSOUD.4TED -OCSGOOOlOOOO 9/2/2003-9/30/2003 Status: FINAL ---- Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT GNMA POOL #0468052 6.500% 9/15/2003 1,457.820 3,677.74 3,677.74 0.00 07/15/2028 DD 07 /01/98SEC ID: 9/1/2003 36209C5M4OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0468330 6.000% 9/15/2003 3,111.750 132.71 132.71 0.00 05/15/2028 DD 05/01/98SEC ID: 9/1/2003 36209DHF4OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0468339 6.000% 9/15/2003 685.520 2 ,219.13 2,219.13 0.00 08/15/2028 DD 08/01/98SEC ID: 9/1/2003 36209DHQ0OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0469688 6.000% 9/15/2003 1,795.230 99.31 99.31 0.00 11/15/2028 DD 11/01/98SEC ID: 9/1/2003 36209EXR8OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0476041 6.500% 9/15/2003 13,455.110 1,493.21 1,493.21 0.00 06/15/2028 DD 06/0l/98SEC ID: 9/1/2003 36209MZE7OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0478626 6.500% 9/15/2003 273.330 1,178.60 1,178.60 0.00 01/15/2029 DD 01/0l/99SEC ID: 9/1/2003 36209QVT9OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0480598 6.500% 9/15/2003 39,496.370 1,566.02 1,566.02 0.00 10/15/2028 DD 10/01/98SEC ID: 9/1/2003 36209S3F6OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0483452 6.000% 9/15/2003 22.020 77.16 77.16 0.00 09/15/2028 DD 09/01/98SEC ID: 9/1/2003 36209WBV3OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0485527 6.500% 9/15/2003 80,205.600 3,461.16 3,461.16 0.00 06/15/2031 DD 06/01/0lSEC ID: 9/1/2003 36209YLG10CSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0485610 6.500% 9/15/2003 118,910.770 4,076.02 4,076.02 0.00 07/15/2031 DD 07 /01/0lSEC ID: 9/1/2003 36209YN38OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO 22 Workbench ---- Transaction Detail Report ID: EWB009 Reportedby Transaction Category Base Currency: USD , OCSD-CONSOUDATED -OCSGOOOl0000 9/2/2003 -9/30/2003 Status: FINAL -------Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT GNMA POOL #0485682 6.500% 9/15/2003 16,892.610 813.03 813.03 0.00 08/15/2031 DD 08/01/0lSEC ID: 9/1/2003 36209YRB6OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0485703 6.500% 9/15/2003 3,663.820 779.76 779.76 0.00 08/15/2031 DD 08/01/0lSEC ID: 9/1/2003 36209YRY6OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0486720 6.000% 9/15/2003 597.520 69.83 69.83 0.00 12/15/2028 DD 12/0l/98SEC ID: 9/1/2003 36210AVM6OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0491103 6.000% 9/15/2003 4 ,026.400 657.52 657.52 0.00 01/15/2029 DD 01/0l/99SEC ID: 9/1/2003 36210FRY4OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0496461 6.000% 9/15/2003 28,262.010 2,513.92 2,513.92 0.00 01/15/2029 DD 01/0l/99SEC ID: 9/1/2003 36210MQN4OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0497343 6.000% 9/15/2003 44.200 136.39 136.39 0.00 12/15/2028 DD 12/0l/98SEC ID: 9/1/2003 36210NP45OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0499153 6.000% 9/15/2003 1,241.400 69.88 69.88 0.00 02/15/2029 DD 02/0l/99SEC ID: 9/1/2003 36210QQE5OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0500917 6.000% 9/15/2003 1,317.280 54.26 54.26 0.00 04/15/2029 DD 04/01/99SEC ID: 9/1/2003 36210SPA0OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0503388 6.000% 9/15/2003 51,504.200 2,295.38 2,295.38 0.00 03/15/2029 DD 03/0l/99SEC ID: 9/1/2003 36210VF55OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0506636 6.000% 9/15/2003 902.750 207.44 207.44 0.00 04/15/2029 DD 04/0l/99SEC ID: 9/1/2003 36210YY90OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO 23 Workbench -----------Transaction Detail ReportID: EWB009 Reportedby Transaction Category Base Currency: USD OCSD-CONSOUDATED -OCSGO00l00OO 9/2/2003 -9/30/2003 Status: FINAL -------Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT GNMA POOL #0512235 6.500% 9/15/2003 20.910 89.20 89.20 0.00 11/15/2029 DD ll/01/99SEC ID: 9/1/2003 36211GBC6OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0514326 6.500% 9/15/2003 32,483.370 1,498.94 1,498.94 0.00 07/15/2029 DD 07 /01/99SEC ID: 9/1/2003 36211JLF2OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0530053 6 .500% 9/15/2003 5,208.470 392.65 392.65 0 .00 04/15/2031 DD 04/01/0lSEC ID: 9/1/2003 36212CZS3OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0530290 6.500% 9/15/2003 74.730 375.20 375.20 0.00 03/15/2031 DD 04/01/0lSEC ID: 9/1/2003 36212DC31OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0537885 6.500% 9/15/2003 21,141.620 847.84 847.84 0.00 02/15/2031 DD 02/01/0lSEC ID: 9/1/2003 36212MRE1OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0547512 6.500% 9/15/2003 4,180.470 110.42 110.42 0.00 04/15/2031 DD 04/01/0lSEC ID: 9/1/2003 36212YGV9OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0547715 6.500% 9/15/2003 52,865.540 984.18 984.18 0.00 02/15/2031 DD 02/01/0lSEC ID: 9/1/2003 36212YN82OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0552322 6.500% 9/15/2003 9,248.560 546.58 546.58 0.00 01/15/2032 DD 01/01/02SEC ID: 9/1/2003 36213ESK3OCSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0552466 6.500% 9/15/2003 79,286.490 4,368.55 4,368.55 0.00 03/15/2032 DD 03/01/02SEC ID: 9/1/2003 36213EW36OCSF07522202: LONG rERM 9/15/2003 OPER-PIMCO IT GNMA POOL #0552659 6.500% 9/16/2003 54,152.470 3,302.91 3,302.91 0.00 07/15/2032 DD 07 /01/02SEC ID:'. 9/1/2003 36213E5U6OCSF07522202: LONG"'TERM 9/16/2003 OPER-PIMCO 24 Workbenc1~ Transaction Detail Report ID: EWB009 Reportedby Transaction Category Base Currency: USD , OCS~ONSOUDATED -OCSGO00l0000 9/2/2003 -9/30/2003 Status: FINAL ---- Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT GNMA POOL #0561017 6.500% 9/15/2003 88,935.450 3,565.97 3,565.97 0.00 07/15/2031 DD 07 /01 /0l SEC ID: 9/1/2003 36213QG290CSF07522202: LONG TERM 9/15/2003 OPER-PIMCO IT GNMA II POOL #0080023 VAR RT 12/20/20269/22/2003 16,242.490 1,306.54 1,306.54 0.00 DD 12/0l /96SEC ID: 9/1/2003 36225CAZ90CSFb7522202: LONG TERM 9/22/2003 OPER-PIMCO IT GNMA II POOL #080088M 7.375% 9/22/2003 18,415.220 1,419.07 1,419.07 0.00 06/20/2027 DD 06/01/97SEC ID: 9/1/2003 36'225CC200 CSF07522202~ LONG TERM 9/22/2003 OPER-PlMCO IT GNMA II POOL #0080395 VAR RT 9/22/2003 14,967.620 938.74 938.74 0.00 04/20/2030 DD 04/01/00SEC ID: 9/1/2003 36225CNM40CSF07522202: LONG TERM 9/22/2003 OPER-PlMCO IT GNMA II POOL #080408X 6.500% 9/22/2003 127,524.940 8,476.45 8,476.45 0.00 05/20/2030 DD 05/0J/OOSEC ID: 9/1/2003 36225CN280CSF07522202: LONG TERM 9/22/2003 OPER-PIMCO IT GENERAL ELEC CAP MTN #TR 00545 VAR RT 9/20/2003 0.000 1,127.50 1,127.50 0.00 05/20/2004 DD 05/20/02SEC ID: 9/20/2003 36962GYS70CSF07511102: LIQUID OPER-9/20/2003 PIMCO IT GNMA GTD REMIC TR 2000-9 FH VAR RT 9/16/2003 37,407.830 1,168.75 1,168.75 0.00 02/ 16/2030SEC ID: 9/16/2003 3837H4NX90 CSF07522202: LONG TERM 9/16/2003 OPER-PIMCO IT NATIONAL RURAL UTILS COOP FIN 7.250% 9/2/2003 3,000,000.000 108,750.00 108,750.00 0.00 03/01/2012 DD 03 /07 /02SEC ID: 9/1/2003 637432CU70 CSF07522202: LONG TERM 9/2/2003 OPER-PIMCO IT PACIFICORP SECD MTN #TR 00115 7.300% 9/2/2003 3,000,000.000 109,500.00 109,500.00 0.00 10/22/2004 DD 10/22/92SEC ID: 9/1/2003 69512EEU50CSF07522202: LONG TERM 9/2/2003 OPER-PIMCO IT PROCTER & GAMBLE CO NTS 5.250% 9/15/2003 656,000.000 17,220.00 17,220.00 0.00 09/15/2003 DD 09/2$/98SEC ID: 9/15/2003 742718BK40 CSF075 11102: LJQUID OPER-9/15/2003 PIMCO 25 Workbench OCSD-CONSOUDATED -OCSGOOOl0000 Transaction Detail Reportedby Transaction Category 9/2/2003 -9/30/2003 Tran Trade Date Settle Date Reported Date Type Description IT IT CD CD CD IT IT SBA GTD DEV PARTN 2001-20C 1 6.340% 03/01/2021SEC ID: 83162CW0OCSF07522202: LONG TERM OPER-PIMCO UNITED AIRLS PASSTHRU 01-1 C 6.831% 03/01/2010 DD 08/22/0lSEC ID: 909317BC2OCSF07522202: LONG TERM OPER-PIMCO 9/2/2003 9/1/2003 9/2/2003 9/2/2003 9/1/2003 9/2/2003 US TREASURY INFLATION INDEX NT 3.375% 9/30/2003 01/15/2007 DD 01/15/97SEC ID: 9128272M3OCSF07522202: LONG TERM OPER-PIMCO 9/30/2003 US TREASURY INFLATION INDEX NT 3.625% 9/30/2003 01/15/2008 DD 0l/15/98SEC ID: 9 128273T7OCSF07522202: LONG TERM OPER-P!MCO 9/30/2003 US TREASURY 1NFLAT1ON INDEX NT 3.875% 9/30/2003 01/15/2009 DD 01/ 15/99SEC ID: 9 l28274Y5OCSF07522202: LONG TERM OPER-EIMCO VERIZON GLOBAL FDG CORP GLOBAL 7.375% 09/01/2012 DD 08/26/02SEC ID: 92344GAT3OCSF07522202: LONG TERM OPER-PIMCO 9/30/2003 9/2/2003 9/1/2003 9/2/2003 VIRGINIA ELEC & PWR 01 SER A 5.750% 9/30/2003 03/31/2006 DD 03/27 /0l SEC ID: 9/30/2003 927804EN0OCSF07522202: LONG TERM 913012003 OPER-PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR! TOTAL FIXED INCOME SECURITIES BASE: TOTAL INTEREST BASE: Price Base Shares/Par 182,080.630 1,600,000.000 0.000 0.000 0.000 3,000,000.000 3,500,000.000 20,122,103.310 20,122,103.310 35,422,103.310 Cost Base 121,355.55 54,648.00 17,640.00 3,690.00 15,860.00 110,625.00 100,625.00 943,217.10 943,217.10 961,230.33 ReportID: EWB009 Base Currency: USD Status: FINAL Amount Base Net Gain/Loss Base 121,355.55 0.00 54,648.00 0.00 17,640.00 0.00 3,690.00 0.00 15,860.00 0.00 110,625.00 0.00 100,625.00 0.00 943,217.10 0.00 943,217.10 0.00 961,230.33 -o.oo TOTAL TRANSACTIONS: 40,977,982.880 6,705,492.14 -4,368,779.58 411,662.48 26 V.!ericbene-'..