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2004-04-14
MINUTES OF FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING (Corrected) Orange County Sanitation District Wednesday, April 14, 2004, 5:00 p.m A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on April 14, 2004, 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 Patricia Bortle Bruce Broadwater, Alternate Dir. Joy Neugebauer Shirley McCracken, Board Chair Steve Anderson, Vice Board Chair Directors Absent: Mike Duvall James W. Silva (2) APPOINTMENT OF CHAIR PRO TEM STAFF PRESENT: Blake Anderson, General Manager Gary Streed, Director of Finance/Treasurer Mike White, Controller Jeff Reed, Human Resources Manager Carol Beekman, Communications Services Manager Jan Collins, Principal Human Resources Analyst Jean Tappan, Acting Committee Secretary OTHERS PRESENT: Tom Woodruff, General Counsel Bob Lockhart Bob Geggie Don Hughes Director Moore chaired the meeting at Director Brady's request, who arrived late. (3) PUBLIC COMMENTS There were no public comments. (4) REPORT OF THE COMMJTTEE CHAIR FILED IN THE OFFICE OF THE SECRETARY ORANGE """• 1-•,, r,,, ~,,-q T,nt.,I DISTRICT APR,2 8 2004 y{ BY __ _,,,_L_ ·_;__.:,__--- Vice Chair Moore announced that alternate Director Bruce Broadwater was filling in for Director Bill Dalton tonight. He also announced that the ne)d meeting date is May 12. The contract internal auditors, Moss, Levy & Hartzheim, were scheduled to make a report but it has been deferred to May. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 2 April 14, 2004 (5) REPORT OF THE GENERAL MANAGER General Manager Blake Anderson reported on the discussions at the GWRS Steering Committee on the very high bid received on the Advanced Treatment Facilities project. A third- party review of the bid will be undertaken to ensure everything is addressed. The GWRS Steering Committee unanimously decided to recommend award of the contract to J. F. Shea Inc. to both OCWD and OCSD Boards at their next meetings (April 21 and 28, 2004, respectively). There is an all-day session on developing partnerships between QC agencies on April 30 sponsored by the Orange County Leadership Symposium. The session begins at 8:30 a.m. and will be held at the OC Fire Authority's new headquarters building. There is no cost associated with this event. Mr. Anderson urged all Directors to attend. He also announced that the Fourth Annual Orange County Leadership Symposium will again be held in January 2005. (6) REPORT OF DIRECTOR OF FINANCE/TREASURER Gary Streed, Director of Finance, reported that personnel from the auditing firm of Moss, Levy & Hartzheim were on site last week doing follow up work and new field work, but he has received no feedback from their visit. He also reported that one of the two corporate notes that are shown as being in non-compliance in the Investment Report reached maturity last week. We received all of our investment plus interest. Mr. Streed also reported on a meeting held with PIMCO to discuss its investigation by the SEC and any potential impacts to the District. PIMCO has not been notified of any SEC violations despite considerable review at its offices. The District does not have investments in any of the PIMCO mutual funds that are being investigated by the SEC. The lawsuit by the State of New Jersey, the Cal PERS review and procedural changes instituted by PIMCO were also discussed. The PIMCO response to the New Jersey suit is due between now and the Board meeting. (7) REPORT OF DIRECTOR OF HUMAN RESOURCES Human Resources Manager Jeff Reed did not make a report. {8) REPORT OF COMMUNICATIONS SERVICES MANAGER Communications Services Manager Carol Beekman deferred her report to later in the agenda. (9) REPORT OF GENERAL COUNSEL General Counsel Tom Woodruff updated the members on SB 1272, the Ortiz bill that addresses special districts' governance issues. The bill was amended again this week after meetings with the affected agencies' representatives. Mr. Woodruff reported on a meeting held last week with the Board's Chair and Vice Chair to discuss the proposed changes to the OCSD Resolution that details Directors compensation. Some of the changes are addressed in the Ortiz bill, but others are Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 April 14, 2004 clarifications and definitions. The Resolution will be presented to the Steering Committee at its next meeting. Mr. Woodruff is following this bill and will make an analysis that will be included in the agenda packages next week. (10) CONSENT CALENDAR ITEMS Director Joy Neugebauer asked that Item I. be pulled from the Consent Calendar for consideration separately. MOVED, SECONDED AND DULY CARRIED to approve all agenda items appearing on the Consent Calendar not specifically removed from same, as follows: a. Approve minutes of the March 10, 2004, Finance, Administration and Human Resources Committee meeting. Alternate Director Broadwater abstained. b. FAHR04-23 Recommend to the Board of Directors to receive and file Treasurer's Report for the month of March 2004. 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. c. FAHR04-24 Receive and file Certificates of Participation (COP) Monthly Report. d. FAHR04-25 Receive and file Employment Status Report as of March 30, 2004. e. FAHR04-26 Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. f. FAHR04-27 Recommend to the Board of Directors to approve Revision 2 of SAFETY-POL-101, Injury and Illness Prevention Program, as provided for in Resolution No. OCSD 02-5, regarding the District's Injury and Illness Prevention Program Policy. g. FAHR04-28 Recommend to the Board of Directors to approve SAFETY- POL-107, Hazard Communication Policy, as provided for in Resolution No. OCSD 02-5, regarding the District's Hazard Communication Program. h. FAHR04-29 Recommend to the Board of Directors to approve SAFETY- POL-108, Contractor Safety Policy, as provided for in Resolution No. OCSD 02-5, regarding the District's Contractor Safety Program. Minutes of the Finance, Administration and Human Resources Committee Meeting Page4 April 14, 2004 i. FAHR04-30 Recommend to the Board of Directors to approve SAFETY- POL-115, Backflow Prevention Policy, as provided for in Resolution No. OCSD 02-5, regarding the District's Backflow Prevention Program. j. FAHR04-31 Recommend to the Board of Directors to adopt Resolution No. OCSD 04-09, A Resolution of the Board of Directors of Orange County Sanitation District, Dedicating its Revenues for Payment of Debt Obligations. k. FAHR04-32 Recommend to the Board of Directors to approve three Deferred Payment Agreements negotiated by the General Manager for the collection of all charges and fees owed, plus interest of 7% per annum, with Dae Shin USA, Inc., Expo Dyeing & Finishing, Inc., and Y2K Textile, Inc. m. FAHR04-34 Recommend to the Board of Directors to approve a one time only non-base building payment for the Secretary to the General Manager in an amount not to exceed $1,200. END OF CONSENT CALENDAR Consideration of items deleted from Consent Calendar, if any. I. FAHR04-33 MOVED, SECONDED AND DULY CARRIED: Receive and file staff's responses to the Internal Audit Report issued on March 3, 2004, by the District's contracted internal auditors Moss, Levy & Hartzheim. Director Neugebauer asked about the procedures that are in place or would be in place to avoid the same kind of concerns in the future. Mr. Streed reported that in most instances there are policies covering the issues of concern. He stated that staff training will correct most of the auditors concerns. Where there were problems changes have already been made to correct them. General Manager Anderson commented that the report findings were very preliminary and in some instances the auditors may not have had all the information they needed. Director Neugebauer commended staff for implementing the changes identified in the report. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 5 April 14, 2004 (11) ACTION ITEMS a. FAHR04-35 MOVED, SECONDED AND DULY CARRIED: Direct staff to present the preliminary budgets for FY 04-05 to the Standing Committees in May for their review, prior to consideration by the FAHR Committee, for recommendation to the Board of Directors for adoption in June. Gary Streed provided new information on the five budgets, which include implementing the scheduled $115/year Sanitary Sewer Service Charge. Director Moore complimented staff on the way the information is formatted. b. FAHR04-36 Recommend to the Board of Directors to authorize and implement the Sanitary Sewer Service Charge Schedule for the Fiscal Years of 2004-05, 2005-06, 2006-07 and 2007-08, that was adopted by Ordinance No. OCSD-20 last year, subject to reaffirmation by a 2/3 vote of the Directors. Mr. Streed explained why there continues to be a need for the $15 increase this year, namely, because of the CIP. A review of the cash flow chart outlines the need. Staff recommends that, based on the chart, the Board approve the rate increase for all of the next four years as established by the Ordinance No. OCSD-20. Mr. Woodruff discussed the ability of the Board to change the rate in the future as well as reconsidering the 2/3 vote requirement. The rates in the Ordinance passed last year are already adopted but staff cannot implement them until the Board reaffirms the decision. Mr. Anderson reported that with the increase in scheduled borrowing, the debt service will soon be higher than the current operating costs. MOVED, SECONDED AND DULY CARRIED: Recommend that the Board of Directors consider both of the following and authorize either: 1) That the Board of Directors reaffirm, authorize and implement the Sanitary Sewer Service Charge Schedule for the Fiscal Year 2004-05, that was adopted last year; Or 2) That the Board of Directors reaffirm, authorize and implement the Sanitary Sewer Service Charge Schedule for the Fiscal Years 2004-05, 2005-06, 2006-07 and 2007-08, that was adopted last year without future further reaffirmation. Director McCracken opposed. I ' Minutes of the Finance, Administration and Human Resources Committee Meeting Page 6 April 14, 2004 c. FAHR04-37 Receive and file staff's proposal to review commercial parcels. Bob Lockhart, of the Revenue Enhancement Group ("REG"), addressed the committee. He said that Director Duvall is scheduled to meet with his firm next month as authorized by the Committee in March. An alternate proposal is being prepared by REG for consideration by the Directors. . Mike White, Controller, reviewed the revised staff-implemented proposal. Staff has determined the need to review all commercial properties, estimated to be 46,500 parcels. The time required to review the properties is now estimated to be no fewer than two parcels per hour, and temporary services is estimated at $30 per hour. The proposal includes more parcels, more time to review each parcel and increased hourly rates from previous staff estimates. The new cost estimate is $15 per parcel for a total not to exceed $696,600. The objectives were outlined and the review is scheduled to be completed in early 2005. A senior staff analyst would be assigned to this project to review the information and insure the accuracy of the data base. The position is already included in this year's budget request. After the initial year it is anticipated that 20 percent of the parcels will be reviewed annually so that every parcel is reviewed in a 5-year cycle. Mr. White then described that work would begin by reviewing vacant parcels followed by government owned parcels as the database is most likely to be incorrect in these areas. Staff will include an estimate of the mileage that will be involved. MOVED, SECONDED AND DULY CARRIED: Continue the discussion until Director Duvall can report back on his findings. Director McCracken opposed. (12) INFORMATION PRESENTATIONS a. FAHR04-38 Communications Services Strategic Plan FY 2003-04 Update. Carol Beekman, Communications Services Manager, updated the committee on the activities of the division in the past quarter, including the soliciting of members for the Biosolids Advisory Committee; plans for the 50th Anniversary celebration; Earth Day events; construction outreach activities; information on the internet and intranet, and status of the corporate identity program. She also reminded the Directors that there is a joint OCWD/OCSD Board workshop on the GWRS next Wednesday, April 21 at 5 p.m., and announced that Huell Howser is helping with a video on the GWRS. 'r • Minutes of the Finance, Administration and Human Resources Committee Meeting Page7 April 14, 2004 (13) CLOSED SESSION Ms. Beekman will be making her next report in July and will be bringing an update on the plan to the committee for consideration. The Committee convened in Closed Session at 6:54 p.m. pursuant to Government Code Section 54957.6 to confer with Jan Collins, Human Resources Analyst, re recommended pay grade adjustments for the Executive Management. 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. RECONVENE IN REGULAR SESSION: At 7:15 p.m., the Committee reconvened 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 There were none. (16) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled for May 12, 2004 at 5 p.m. (17) ADJOURNMENT The Chair declared the meeting adjourned at 7:20 p.m. Submitted by: J~~~ A:~HR Committee Secretary H:\dept\agenda\FAHR\FAHR2004\0404\041404 draft 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 FAHR Committee meeting to be held on Wednesday, April 14, 2004, was duly posted for public inspection in the main lobby of the District's offices on Wednesday, February 7, 2004. IN WITNESS WHEREOF, I have hereunto set my hand this 14th day of April, 2004. Posted: ~L 7 , 2ooj, By: ~tur~ H:\DEP1\AGENDA\POSTING\COMMITTEE POSTING CERTIFICATION FORM.DOC ORANGE COUNTY SANITATION DISTRICT April 7, 2004 NOTICE OF MEETING FINANCE, ADM_INISTRATIONAND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, APRIL 14. 2004 -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. ;o maintain world-class leadership in wastewater and water resource management. FINANCE, ADMINISTRATJON AND HUMAN RESOURCES COMMITTEE MEETING DATES FAHR Committee Meeting Date April 14, 2004 May 12, 2004 June 9, 2004 July 14, 2004 August -Dark September 8, 2004 October 13, 2004 November 10, 2004 December 8, 2004 January -Dark February 9, 2005 March 9, 2005 April 13, 2005 Soard Meeting Dates April 28, 2004 May 26, 2004 June 23, 2004 * July 21, 2004 August25,2004 September 22, 2004 October 27, 2004 *November17,2004 *December15,2004 January 26, 2005 February 23, 2005 March 23, 2005 April 27, 2005 •Meetings being held the third Wednesday of the month. ROLL CALL FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE Meeting Date: April 14, 2004 Time: 5:00 p.m. Adjourn: __ _ COMMITTEE MEMBERS Brian Brady (Chair) Roy Moore (Vice Chair) Patricia Bortle Mike Duvall Bill Dalton Joy L. Neugebauer James W. Silva Shirley McCracken (Board Chair) Steve Anderson (Board Vice Chair) OTHERS Tom Woodruff, General 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 Finance/Treasurer Patrick Miles, Director of Information T echnoloav Robert Ghirelli, Director of Technical Services Carol Beekman, Communications Services Mgr Mike White, Controller Penny Kyle, Committee Secretary Jean Tappan, Actinq Committee Secretary c: Lenora Crane AGENDA REGULAR MEETING OF THE FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, APRIL 14, 2004, AT 5:00 P.M. ADMINISTRATIVE OFFICE 10844 Ellis Avenue Fountain Valley, California 92708 www.ocsd.com Agen'da Pasting: 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 submitt'ed to the Committ~e f©r discussion and/or action, it will be done in compliance with Section 54S54.2(b) as an emergency item or because there is a need t0 take immediate acti0n, which need e~me to the attention of the Committee subsequent to the posting of agendg, or as set farth on a supplemental agenda posted in the manner as above, not less than 72 t.iours prior to the meeting date. AccommodaH0ns for theDisahle<:1 : i he Board of Directors Meetln·g ~oom is wheelchair aecessible. If you require any special disabilhy related accommodations, plea~e contact the Orange County Sanitation Oistrict Board Secretary's office. at (714) 593,-7,130 at lea~t 72 hours prior to the scheduled meeting. Requests must specify the nature of the_ clisability and the t1pe 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}. Meeting Adjournment: 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 accordane:e with Government Code Section 5495_5 (posted within 24 hours). (1) ROLL CALL (2) APPOINTMENT OF CHAIR PRO TEM. IF NECESSARY Book page 1 April 14, 2oq4 _ (3) PUBLIC COMMENTS All persons wishing to address the Finance, Administration and Humai:, Resources Committee on specific agenda items or matters of general interest should do so at this time. As determined by the Chair, speakers may· b~ 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 a. Report of the contract internal auditors, Moss, Levy & Hartzheim. (5) REPORT OF GENERAL MANAGER (6) REPORT OF DIRECTOR OF FI NANCE (7) REPORT OF DIRECTOR OF HUMAN RESOURCES (8) REPORT OF COMMUNICATIONS SERVICES MANAGER (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 matters placed on the consent calendar are considered as not requiring discussion or further explanation and \ ! unless any particular item is requested to be removed from the consent calendar by a Director or staff member, I l there will be no separate discussion of these items. All items on the consent calendar will be enacted by one 4 ! action approving all motions, and casting a unanimous ballot for resolutions included on the consent calendar. All \ \items removed from the consent calendar shall be considered in the regular order of business. l IThe Chair will determine if any items are to be deleted from the consent calendar. [ ' : ; l •••--·••• .... •••--OOU ••-OOO·o•nH••ou• ........ •·• .. •• .. •OOO I ........................... -H ... oo,•OH•,._,.._ ....... .., •••.• , ........ H ............ ~,,-..,,,.u-••• ............................ ,,. •""'••••OH • ; , .............. HHOooooo-H0-0••••·• .. •· .. •-•·•• .. •• .. ••• ............. •••-•-•·•-...... f a. Approve minutes of the March 10, 2004, Finance, Administration and Human Resources Committee meeting. b. FAHR04-23 Recommend to the Board of Directors to receive and file Treasurer's Report for the month of March 2004. 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 April 14, 200_4 _ C. FAHR04-24 Receive and file Certificates of Participation (COP) Monthly Report. d. FAHR04-25 Receive and file Employment Status Report as of March 30, 2004. e. FAHR04-26 Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. f. FAHR04-27 Recommend to the Board of Directors to approve Revision 2 of SAFETY-POL-101, Injury and Illness Prevention Program, as provided for in Resolution No. OCSD 02-5, regarding the District's Injury and Illness Prevention Program Policy. g. FAHR04-28 Recommend to the Board of Directors to approve SAFETY- POL-107, Hazard Communication Policy, as provided for in Resolution No. OCSD 02-5, regarding the District's Hazard Communication Program. h. FAHR04-29 Recommend to the Board of Directors to approve SAFETY- POL-108, Contractor Safety Policy, as provided for in Resolution No. OCSD 02-5, regarding the District's Contractor Safety Program. i. FAHR04-30 Recommend to the Board of Directors to approve SAFETY- POL-115, Backflow Prevention Policy, as provided for in Resolution No. OCSD 02-5, regarding the District's Backflow Prevention Program. j. FAHR04-31 Recommend to the Board of Directors to adopt Resolution No. OCSD 04-09, A Resolution of the Board of Directors of Orange County Sanitation District, Dedicating its Revenues for Payment of Debt Obligations. k. FAHR04-32 Recommend to the Board of Directors to approve three Deferred Payment Agreements negotiated by the General Manager for the collection of all charges and fees owed, plus interest of 7% per annum, with Dae Shin USA, Inc., Expo Dyeing & Finishing, Inc., and Y2K Textile, Inc. I. FAHR04-33 Receive and file staffs responses to the Internal Audit Report issued on March 3, 2004, by the District's contracted internal auditors Moss, Levy & Hartzheim. m . FAHR04-34 Recommend to the Board of Directors to approve a one time only non-base building payment for the Secretary to the General Manager in an amount not to exceed $1,200. END OF CONSENT CALENDAR 3 Book page 3 April 14, 200:4 _ Consideration of items deleted from Consent Calendar, if any. (11) ACTION ITEMS a. FAHR04-35 Direct staff to present the preliminary budgets to the Standing Committees in May for their review prior to consideration by the FAHR Committee for recommendation to the Board of Directors for adoption in June. (Gary Streed -15 minutes) b. FAHR04-36 Recommend to the Board of Directors to authorize and implement the Sanitary Sewer Service User Fee Schedule for the Fiscal Years of 2004-05, 2005-06, 2006-07 and 2007-08, that was adopted last year subject to annual approval by 2/3 vote. (Gary Streed -15 minutes) c. FAHR04-37 Receive and file staff's proposal to review commercial parcels. (Mike White -30 minutes) (12) INFORMATIONAL PRESENTATIONS a. FAHR04-38 Communications Services Strategic Plan FY 2003-04 Update. (Carol Beekman -15 minutes) (13) CLOSED SESSION \'"6'u·~1~ii"'the· .. ~~-u·~se···~r ·~~-~d·uai·~-ii"the .... busi~es;····;et·"t~rtti"'~~-.. thl;"·;;;g~~da ... a~"··a·· .. ;:eg·u·,;~···;;eeti~·g····;;t' .. the··· .. ····1 : Committee, the Chair may convene the Committee in closed session to consider matters of pending real ) ! estate negotiations, pending or potential litigation, or personnel matters, pursuant to Government Code 1 i Sections 54956.8, 54956.9, 54957 or 54957.6, as noted. l ~ ~ ! Reports relating to (a) purchase and sale of real property; (b) matters of pending or potential litigation; (c) \ employee actions or negotiations with employee representatives; or which are exempt from public disclosure [ under the California Public Records Act, may be reviewed by the Committee during a permitted closed 1 session and are not available for public inspection. At such time as final actions are taken by the Committee i on any of these subjects, the minutes will reflect all required disclosures of information. i : ..... ,.. ....... ••••• .. •••••• .... ••••·H•h•••••••••·• .. •••• .. •••u••••· .. ••••·•••••••••• ... -• ... ••-u• .. ••••• .. ••·•'"---••••·..-.. •~••••••••• .. •uu_...,.•• .. ••••••-••••F••••-•••••n .. •••••••• .. •H•••••-••u•••-••--.., .. t••• .. •• .. •-H•H•l--.. ••••••• .. •• .. ••••••• .... -•o••+•••• a. Convene in closed session. 1. Consider recommended pay grade adjustments for the Executive Management pursuant to Government Code Section 54957.6. b. Reconvene in regular session. c. Consideration of action, if any, on matters considered in closed session. 4 Bookpage4 April 14, 2004 . (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA l!EMS, IF ANY (15) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT (16) Fl:JTURE MEETING DATES The next Finance, Administration and Human Resources Committee Meeting is scheduled for May 12, 2004, at 5 p.m. (17) ADJOURNMENT '; ,.-.,. •· ·•·•• .. ·••••.,. ........ ...,_,,,ooo• OM u , • , ., · • -... ,_ .,., .. .,H . .,., • • • • , , ,..•·••••• .. •••••••••·•,••••••-••••"•H••no•n•••,.•• • , .... n .... , ............ ••••-•••-•••••• • • • , ~ ! Notice to Committee Members: f l For any questions on the agenda or to place any items on the agenda, Committee members should contact the I 1 Committee Chair or Secretary ten days in advance of the Committee meeting. l : ! ! Committee Chair: Brian Brady (949) 453-5300 :l jcommittee Secretary: Penny Kyle (714) 593-7130 pkyle@ocsd.com I i General Manager Blake Anderson (714) 593-711 0 banderson@ocsd.com i j Director ofFinance Gary Streed (714) 593-7550 gstreed@ocsd.com ! : Director of Human Resources Lisa Tomko (714) 593-7145 ltomko@ocsd.com i l Comm.unication _Services .Manager .. Carol, B~ekman ···-·--··· ............. .J714 )593~ 7120 ...... cbeekm-a~~ocsd.com.,._ ..... -......... -........ ..1 H:\dept\fin\21 O\CRANE\FAHR\FAHR2004\APRIL \01 . 3. FAHR Agenda.doc 5 Bookpage5 April 5, 2004 FAHR COMMITTE,E AGENDA CALENDAR Month Item Action May Consider Preliminary 2004-05 Budgets Information May Temporary Services Action May Nine Month Financial Reports Action May Quarterly Investment Management Program Report Action May Quarterly Swap Management Report Action May Human Resources Policies and Procedures Action May Safety Policies Action June Recommend Final 2004-05 Budgets Action June Renew Excess Workers' Comp, General Liability Ins, Action Boiler & Machinery, All-Risk Property Insurances June General Manager Approved Purchases Action July Consider Investment Policy Action July Quarterly Communication Plan Update Information August No meeting scheduled. - September General Manager Approved Purchases Action October Quarterly Communication Plan Update Information Book page 6 Book page 7 MINUTES OF FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, March 10, 2004, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on March 10, 2004, at 5:00 p.m., in the District's Administrative Office. (1) The roll was called and a quorum declared present, as follows: (2) FAHR COMMITTEE MEMBERS: Directors Present: Brian Brady, Chair Roy Moore, Vice Chair Patricia Bortle Bill Dalton Mike Duvall Joy Neugebauer Directors Absent: James W. Silva Shirley McCracken, Board Chair Steve Anderson, Vice Board Chair APPOINTMENT OF CHAIR PRO TEM No appointment was necessary. (3) PUBLIC COMMENTS There were no public comments. (4) REPORT OF THE COMMITTEE CHAIR STAFF PRESENT: Blake Anderson, General Manager Gary Streed, Director of Finance/Treasurer Mike White, Controller Lisa Tomko, Director of Human Resources Carol Beekman, Communications Services Manager Marc Dubois, Purchasing Manager Jeff Reed, Human Resources Manager Juanita Skillman, Records Management Specialist Jean Tappan, Acting Committee Secretary OTHERS PRESENT: Robert Moss Derek Rampone Adam Probolski Bob Lockhart Chair Brady announced that the next meeting date is April 14. Chair Brady then asked the internal auditors, Moss, Levy & Hartzheim, to make a preliminary report on their findings to date. Book page 8 Minutes of the Finance, Administration and Human Resources Committee Meeting Page 2 March 10, 2004 Mr. Robert Moss reported on several investigations of the internal controls in place in the Finance Department. Their findings are issues that should be looked at more closely or that should be modified or improved. The investigations undertaken included the Board approval process for sole source contracts; cash and investments-specifically outstanding checks longer than six months which tie up cash; monthly investment statements that show the control and decisions made by the investor and the Board without protection of existing assets with internal controls, the recommendation that the percentage change on original investment should be reported as additional information; and Mr. Moss believes that the purchase of corporate bonds is counter to the District's investment policies. Mr. Moss also questioned holding long term bonds that are returning 4-5 percent for the longer term as losses could occur if not held to maturity and interest rates rise. Mr. Derek Rampone reviewed computer access by staff members in various divisions. He found that vendors could be added by many staff members in the Finance and Human Resources Department. This could lead to abuse by setting up fictitious vendor accounts. He also found that payroll technicians were allowed to change pay rates while this should be done only by Human Resources. Mr. Moss reported that the investigation into the accounts receivable process showed that there are a large number of past due accounts. He recommended that credit approval and credit collection systems be established with appropriate controls for accounts that are 90 days past due. Mr. Rampone reported on the findings re inventory controls. He found no formal documentation on what to do in the event there is a discrepancy between the records and the stock. He recommended that a written policy be prepared for adjustments to inventory. He also mentioned that access to change inventory is not as limited as it should be and recommended that this be a supervisory function only. He reported that auto parts are being ordered without identifying which vehicle requires the parts. If employees ask for items there is no supervisor approval required before they are taken out of the warehouse. It is recommended that additional documentation and approvals be implemented. The members of the committee complimented Messrs. Moss and Rampone on their report. Chair Brady asked staff to prepare responses to the items identified in the report as needing attention. Mr. Moss said that they received good cooperation from the staff members interviewed. General Manager Blake Anderson said that staff welcomes the opportunity to improve our ability to do our work more smoothly. (5) REPORT OF THE GENERAL MANAGER General Manager Blake Anderson reminded the directors that there will be a special workshop on March 31 at 5 p.m. to discuss the Capital Improvement Program. This program drives the user fee rates and impacts staffing and spending budgets. He urged everyone to attend. Book page 9 Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 March 10, 2004 (6) REPORT OF DIRECTOR OF FINANCE/TREASURER Finance Director Gary Streed announced that the February Treasurers Report was distributed as well as a summary of comments from the PDC Committee on Agenda Item 11 (c). The Steering, OMTS and PDC Committees all received informational presentations on this item. (7) REPORT OF DIRECTOR OF HUMAN RESOURCES Director of Human Resources Lisa Tomko did not make a report. (8) REPORT OF COMMUNICATIONS SERVICES MANAGER Communications Services Manager Carol Beekman did not make a report. (9) REPORT OF GENERAL COUNSEL Assistant General Counsel Tom Nixon did not make a report. (10) CONSENT CALENDAR ITEMS MOVED, SECONDED AND DULY CARRIED to approve all agenda items appearing on the Consent Calendar not specifically removed from same, as follows: a. Approve minutes of the February 11, 2004 Finance, Administration and Human Resources Committee meeting. b. FAHR04-14 Recommend to the Board of Directors to receive and file Treasurer's Report tor the month of February 2004. 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. c. FAHR04-15 Receive and file Certificate of Participation (COP) Monthly Report. d. FAHR04-16 Receive and file Employment Status Report as of February 24, 2004. e. FAHR04-17 Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. f. FAHR04-18 Receive and file report of General Manager approved purchases in amounts exceeding $50,000 in accordance with Board purchasing policies. Book page 10 Minutes of the Finance, Administration and Human Resources Committee Meeting Page4 March 10, 2004 g. FAHR04-19 Recommend to the Board of Directors to adopt Resolution No. OCSD 04-XX. Adopting Policies and Procedures for District's Records Management Program, Records Retention , and Destruction of Obsolete Records, and Repealing Resolution No. OCSD 03-06. END OF CONSENT CALENDAR Consideration of items deleted from Consent Calendar, if any. (11) ACTION ITEMS a. FAHR04-20 Recommend to the Board of Directors to: 1) Reject the unsolicited, non-competitive, proposal of Revenue Enhancement Group to contract their services to review and to collect sewer service user charges assessed non-residential parcels; and 2) Direct staff to proceed to evaluate non-residential parcels to determine if they have been undercharged for annual sewer service user fees and, if so, to collect the proper charges on the property tax bill on a going forward basis. Mr. Robert Lockhart outlined his firm's abilities and understanding of the issues. Mr. Streed said that staff could perform this work with some adjustments to staffing. He will report back to the FAHR Committee next month with a preliminary plan of action. After discussion, an alternate motion was made by Director Neugebauer. MOVED, SECONDED AND DULY CARRIED TO: Request authorization from the Board Chair to task Director Mike Duvall with evaluating the business practices of Revenue Enhancement Group in an effort to determine the scope of work and report back to the FAHR Committee. b. FAHR04-21 MOVED, SECONDED AND DULY CARRIED TO: Recommend to the Board of Directors to: 1) Approve the use of planned recruitments, on an as needed basis, to fill key positions within the organization where an individual holding a key position has a specific termination date previously established and has submitted a letter of resignation. 2) Approve the use of a "Planned Recruitment Position Pool" administered by the Human Resources Department within the Division 540 FTE budget. 3) Approve the revisions to Recruitment Policy B150.00. Book page 11 Minutes of the Finance, Administration and Human Resources Committee Meeting Pages March 10, 2004 c. FAHR04-22 Recommend to the Board of Directors to adopt Resolution No. OCSD 04-XX, Establishing Policies and Procedures for the Award of Purchase Orders and Contracts; Award of Public Works Project Contracts; Award of Professional Services Contracts; and Delegation of Authority to Implement Said Policies and Procedures; and Repealing Resolution No. OCSD 99-23. Marc Dubois, Purchasing Manager, explained the proposed changes to the purchasing resolution, which was last revised in 1999. The main reasons are to provide approval level consistencies and clarify several issues. The changes will allow staff to streamline the way we do business, and to gain time by reducing the number of separate agenda reports going to the Board. The General Manager will have authority to file Notices of Completion and approve time extension change orders if there are no costs associated with the extension. All of the items that have costs over $50,000 and are approved by the General Manager are and will continue to be reported to the Committee of jurisdiction. Mr. Anderson identified two sections in the resolution that refer to selection committees and the proposed language change. Because of recent conflict of interest issues experienced by other agencies as a result of members of governing bodies serving on selection committees, staff is recommending that the committee direct staff on whether to include the words "strongly discourage' or 'prohibit' in those sections. The committee directed staff to change the wording to 'prohibit.' Exceptions are identified and need Chair approval. (12) INFORMATION PRESENTATIONS There were none. (13) CLOSED SESSION There was no Closed Session. (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS. IF ANY Director Joy Neugebauer asked for a copy of the video of the February 18 New Directors Workshop. Carol Beekman will provide this. (15) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A FUTURE AGENDA FOR ACTION AND STAFF REPORT There were none. Book page 12 Minutes of the Finance, Administration and Human Resources Committee Meeting Page 6 March 10, 2004 (16) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled for April 14, 2004 at 5 p.m. (17) ADJOURNMENT The Chair declared the meeting adjourned at 6:50 p.m. Submitted by: appan i FAHR Committee Secretary H: pt\agenda\FAHR\FAHR2004\o204\021104 FAHR Minutes.doc Book page 13 FAHR COMMI TTEE Meeting Date To Bd. of Dir. 04/14/04 AGE NDA REPORT Item Number Item Number FAHR04-24 Orange County Sanitation District FROM: Gary G. Streed, Director of Finance Originator: Michael D. White, Controller SUBJECT: CERTIFICATES OF PARTICIPATION (COP) MONTHLY REPORT -MARCH 2004 GENERAL MANAGER'S RECOMMENDATION Receive and file Certificates of Part1cipation (COP) Monthly Report for the month of March 2004. SUMMARY The District began issuing Certificates of Participation (COPs) on a variable interest rate basis in 1990. These variable rate COPs were a part of our long-term financing plan which also included some more traditional fixed rate borrowing. In 1992 and 1993, some of the fixed rate COPs were refunded and replaced with synthetic-fixed rate COPs. These are variable interest rate COPs that are also subject to a long-term fixed-rate interest exchange agreement (SWAP). The SWAP provides the maximum interest rate to be paid by the District, and is less costly than traditional fixed rate borrowing. In August 2000, the entire financing program was restructured and modernized to incorporate and take advantage of the consolidation of District books of account and revenue structure. This process has reduced the number of COP issues from five to three; 1992 Refunding COPs, 1993 Refunding COPs and 2000 Refunding COPs. The 2000 COPs can be divided into Series A and Series B, if additional remarketing agents are desired. 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. Some issuers believe that having more than one remarketing agent promotes competition and results in lower interest costs .. Staff has monitored variable interest rate issues of other agencies since the inception of our program. The attached charts are described in the "Additional Information" section of this agenda report. They are provided monthly to compare our actual interest rates to a composite index, and to other selected issuers of similar credit quality, and with COP issues of similar amounts. Many variables affect interest rates, but staff expects our rates to be among the lowest. Bookpage 14 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. D This item has not been budgeted. ~ 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 Report," shows the performance of the District's Daily Rate COPs as compared to a composite index rate, which represents the average rate of six similar variable rate daily reset borrowings. The third bar chart entitled, "COP Rate History, Comparison of Highest & Lowest Rates," compares the performance (monthly average interest rate) of the District's Daily Rate COPs with the highest and lowest monthly average rates from among six similar variable rate daily reset COPs. The table entitled, "COP Rate History, Comparison of Monthly Averages," shows the monthly variable interest rate performance of the District's Daily Rate COPs as compared to the composite index. Estimated annual interest payments calculated for a standard $100 million par amount, are also shown. Variable rates historically rise at the end of each calendar quarter, and especially at year-end, because of business taxes and liquidity requirements. The rates tend to decline to prior levels immediately in the following month. Staff maintains continuous rate monitoring and ongoing dialog with the remarketing agents to keep the Committee fully informed about developments in the program as they may occur. ATTACHMENTS 1. Graph -OCSD COP Daily Rate History Report 2. Graph -Comparative t>aily COP Rate History Report 3. Graph -COP Rate History, Comparison of Highest & Lowest Rates 4. Tabular-COP Rate History, Comparison of Monthly Averages GGS:MW:lc H:ldeptlfin\21 0ICRANE\FAHRIF AHR2004\APRIL 104-15.1 _Agenda Report_ COPApril_ 04 .DOC Revised: 06/04/03 Book page 15 Page 2 91 ;i~ud )[OOS: G.l "'C if C al > "C )< -I RATE(%) Ol "' al (l) m 5: a. CT -s Cl ... N w ~ UI a, '< -5 9-Apr-03 I~ ,1 :, 5· iG Ol "' I :::, "' 0 0 23-Apr-03 _tll ,6 J ~ (l) ,a I en <O i-3 11 7-May-03 I 0 0 :::, _-1>-Ill I ...... :, C"> 21-May-03 0 IJ1,. r j,.j :0 01 ~ ,.-)> iTI 4-Jun-03 I s: :c tii I --l __ 18-Jun-03 "' I ...., I+++ 2-Jul-03 I I 0 (/)(/)(/) [ CD CD CD ~.::l.~. 16-Jul-03 I 0 CD CD CD en en en I' en ~lS~ 30-Jul-03 I I I C lll<2 I ::J QI "Tl I 0 a.::::, ___ 13-Aug-03 I ·Ill)( OcrCD 0 OCDa. I i~ 27-Aug-03 t I "'tJ :::l.(tl Ill CD I s: $! ~~ 10-Sep-03 I. 0 1 )> --1 ~ 24-Sep-03 I ~m I + I 8-0ct-03 • I : l :c :c ,I -•C/J 22-Oct-03 I\) en -o : I. G"lo o--1 (/)G) J :Ero 5-Nov-03 I oQ C,::::, .s=.::o "0(/) I cn::t 19-Nov-03 -< rolll I ..,-o co·c'n I ::0 en ro 3-Dec-03 r c6:::l-m Nro r cn ~co 17-Dec-03 '" .,, row 0 ~o r -w 31-Dec-03 ::ti '< -· T '< -. I -I 14-Jan-04 .r 28-Jan-04 + lk-I Iii I • I t 11-Feb-04 t ll(}i(I I l l 25-Feb-04 t •1 I J T ., 10-Mar-04 t 110(1 :I l r 24-Mar-04 + :It ,. • l Prepared by Finance, 4/6/2004, 10:24 AM )COMPARATIVE DAILY COP RATE HISTORY REPORT i March 2004 4.00 ~-~--!!!!!!!!!!!!!!!-""""""!"!!!!!!!!!!!!!!! ______ !!!!!!!!!!!!!!!...........,_!!!!!!!!!!!!!!!_!"!!!!!'!!!!I_----, 3.00 1----------------- ~ t,j 0 ..... 0 ~ 2.00 --0 ~ ~ "O r:» ()(I (1) ..... -.J I I ,__ 1.00 -i-[-_, 7 -1 ---. -r --:-:----r,--- '.·· 1· ,~ --ti . ' --·1 I ~ I ( r· ' j r-1 ' j I ..... ' I d ,pi~ ,! j I 'j I( '.i ! I I . :I ,. ~ ' I;' ,,, I ' 0.00 1 .L •I 1'], I L ,. I It' . DATE "' "' "' "' "' "' "' "' "' -.:t -.:t -.:t 0 0 0 0 0 0 0 0 0 0 0 0 ..: >, c s en ci ...: > cS c .ci ..: C. (ti ::, ::, Q) (J 0 Q) (ti Q) (ll <( ~ -, -, <( en 0 z Cl -, LL ~ Iii OCSD COP Series '93 and 2000 •COMPOSITE INDEX G:\excel.dta\fin\2220\geggl\Finance\dallycopintrate.xls -to ~ ~ 0 0 w :,;-' I- 'O ~ p:, c,q (1) ...... 00 1.5 1.25 1 0.75 0.5 I ••••• HIGH LOW 1~:;~~~o iiifiililiil :-:•:-:•:•:• llllit ff'.( ~ COP DAILY RATE HISTORY COMPARISON OF HIGHEST & LOWEST RATES +•• ••• ••• ••• • •• ••• 1••• ••• ••• ••• ••• ••• ••• ::: ::: ••• ••• ••• ••• ••• ••• ••• ::: ••• ••• ••• ... ••• ••• 1::: ••• :l~i: !!!!i •• •• ••• •• •• •• •• t •-:: i: •• ;: :: r .i :: ~M ~M -M ~~ ILEHIIRWD I 11..EinRwo I ILEHl!RWD I lse11Rwo I mERYUlBWD~~ERVUIBWQMERYLIIRWQMERYJ miwo Iii Highest rate • OCSD COP Series '00-PW • OCSD COP Series '93-PW • Lowest rate ::; ••• ·:· • • ··: •• 1 1::: u: ••• ;;• ••• ,,••• ••• ••• ••• i·:: •• •• 1:tt : .. •• ll'W.IOCSO MERYi QRWQ 11!.or...n.{ G:\excel .dta\fin\2220\geggi\Finance\RATEH 1ST _HI LO_ bargraph Prepared by Finance, 4/6/2004, 10:33 AM t,:) ~ "Cl i -\0 Prepared by Finance, 4/6/2004, 10:21 AM Apr-03 May-03 Jun-03 Jul-03 Aug-03 Sep-03 Oct-03 Nov-03 Dec-03 Jan-04 Feb-04 Mar-04 AVERAGE DAILY COP RATE HISTORY COMPARISON OF MONTHLY AVERAGES APR 2003 -MAR 2004 OCSD $218.6M $46M Series2000 Series 93 Ref Composite Paine Webber Paine Webber Index* 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 0.89 0.89 0.88 1.06 1.06 1.05 1.00 1.00 0.99 0.88 0.88 0.87 0.87 0.87 0.86 0.94 0.94 0.92 0.94% I 0.94% 0.93% ESTIMATED ANNUAL INTEREST PAYMENTS PER $100M PAR AMOUNl $ 944,167 I $ 944,167 I$ 934,167 * FOOTNOTE Composite index consists of the following COP transactions: . IRWD, Series 86-COP, 88, 95, $106.1M, Solomon Smith Barney . IRWD, Series C-Ref 93-8, 85-8, $62.1 M, Lehman Brothers . IRWD, Series 91, 93, 85, $93.0M, PaineWebber . IRWD, Series 89, C-Ref 93-A, C-Ref 95, $70.9M, Merrill Lynch . Western Riverside Co. Reg. Wastewater Auth., Series 96, $25.4M, PaineWebber . Orange Co., Irvine Coast Asst. Dist. 88-1 , $94.5M, J.P. Morgan G:\excel.dta\fin\2220\geggi\Finance\C0Pdaily$rate comparison FAHR COMMITTEE Meeting Date To Bd. of Dir. 04/14/04 .. AGENDA REPORT Item Number Item -Number FAHR04-25 Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources Originator: Lisa Arosteguy, Human Resources Supervisor SUBJECT: EMPLOYMENT STATUS REPORT AS OF MARCH 30, 2004 GENERAL MANAGER'S RECOMMENDATION Receive and file the Employment Status Report SUMMARY The number of full-time equivalent (FTE) employees at the District is 564.75 as of March 30, 2004. 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. ~ Not applicable (information item) ADDITIONAL INFORMATION The actual number of employees (headcount) was 576 as of March 30, 2004. • • Dindo Carrillo was promoted from Intern to Environmental Specialist (Environmental Compliance & Monitoring) • Steve DeWilde was promoted from Engineering Data Management Specialist to Senior Information Technology Analyst (Programming & Database Systems) • Mila Kleinbergs was promoted from Associate Engineer Ill to Engineer (Source Control) H:ldeptlfin\2101CRANE\FAHRIFAHR2004\APRIL\AgendaReport_Emp Status Rep! 0404.doc Revised: 06/04103 Book page 20 Page 1 • Riaz Moinuddin was promoted from Senior Information Technology Analyst to Engineer (Process Control Integration) There were seven new hires: • Office Assistant (Project Management Office) • Associate Engineer Ill (Engineering & Construction Management) • Two Engineers (O&M Process Engineering) • Three Interns (Environmental Compliance & Monitoring, Safety & Health and Environmental Sciences Laboratory) There was one resignation: • Maintenance Worker (Regional Assets & Services) ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS 1. March 30, 2004 Employment Status Report 2. Performance compared to budgeted FTE's .. H:ldeptlfin\210\CRANE\FAHRIFAHR2004\APRIL\AgendaReport_Emp Status Repl 0404.doc Revised: 06104/03 Book page 21 Page2 ttl 0 0 :,,;- "<:I ~ (1) ~ 600 - - - - - - - -+-AUTHORIZED FTE -II-ACTUAL FTE • • • • JUL AUG 596 596 543.25 544.75 STAFFING REPORT • • • • • • • • ---- • -II SEP OCT NOV DEC JAN FEB MAR APR 596 596 596 596 596 596 596 596 544.25 545.25 548.25 552.25 558.25 558.75 559.75 564.75 to 0 ~ I N \;.) EMPLOYMENT STATUS REPORT AUTHORIZED FTE ACTUALFTE DIV REG l!,.fil! 0.7S ll!IAl. ~ 0.50 fUQ 110 General Management Admin 2.00 . 2.00 2.00 - 120 Administrative Services 7.00 0.50 -7.50 4.00 0.50 - 130 Communication Services 7.00 --7.00 6.00 . - General Management Totals 16.00 0.50 . 16.50 12.00 0.50 . 210 Finance Administration 2.00 . 2.00 2.00 - 220 Accounting 18.00 -. 18.00 17.00 0.50 - 230 Purchasing & Warehousing 19.00 0.50 a 19.50 18.00 0.50 Finance Totals 39.00 0.50 39.50 37.00 1.00 - 510 Human Resources Admin 5,00 -a 5.00 4.00 . - Interns Intern Program (510) 9,00 -9.00 -4.50 - 520 Employee Development 3.00 -3.00 2.00 . 530 Safely & Health 7.00 . 7.00 6.00 . . 540 Human Resources 6.00 8.00 6.00 . . Human Resources Totals 30.00 . 30.00 18.00 4.50 . 610 Technical Services Admin 2.00 . 2.00 2.00 -- 620 Environmental Comp & Mont 21.00 21.00 20.00 0.50 . 630 Environmental Laboratory 36.00 1.00 37.00 35.00 2.00 - 640 Source Control 40.00 40.00 40.00 . . Technical Services Totals 99.00 1.00 100.00 97.00 2.50 - 710 Engineering Admin 3.00 .. 3.00 3.00 . - 740 Planning 14.00 14.00 13.00 -- 750 Project Management Office 14.00 . 0.75 14.75 11.00 . 1.50 760 Engineering & Construction 48.00 . 46.00 47.00 -- Engineering Totals 79.00 -0.75 79.75 74.00 . 1.50 810 O&M Administration 3.00 . 3.00 3.00 - 420 Collection Facilities Mtce 28.00 1.00 29.00 24.00 1.00 . 430 Facilities Maintenance 31.00 1.00 -32.00 31.00 1.00 . 820 O&M Process Support 14.00 0,50 14.50 13.00 - 830 Plant 1 Operations 40.00 0,50 0.75 41.25 37.00 0.50 0.75 840 Plant 2 Operations 45.00 0.50 . 45.50 44.00 0.50 - 850 Mechanical Maintenance 55,00 0.50 . 55.50 55.00 0.50 - 860 Electrical & Instrumentation Mice 54.00 0.50 -54.50 53.00 0.50 . 880 Air Quality & Special Projects 11.00 . 11.00 11.00 -- Operations & Maintenance Totals 281.00 4.50 0.75 286.25 271.00 4.00 0.75 910 IT Administration 2.00 -2.00 2.00 . - 930 Customer & Network Support 17.00 . . 17.00 12.00 . - 940 Programming & Database Sys 12.00 . . 12.00 10.00 . - 950 Process Controls Integration 13.00 . . 13.00 11.00 -- Information Technology Totals 44.00 . -44.00 35.00 . GRAND TOTAL 588.00 6.50 1.50 544.00 12.50 2.25 = TOTAL ·I TOTAL AUTHORIZED FTE ACTUAL FTE 596.00 564. 75 H:\540\open\Recruiting_shared\03-04 Position Control-EMT REPORT Recruitments Vacancies LOA mr&. -2.00 -- 2.00 6.50 1.00 1 00 . 6.00 1.00 1 00 2.00 14.SO 2.00 2.00 -2.00 . . -11.50 -0.50 -18.50 1.00 1.00 . 38.00 1.00 1.50 -4.00 1.00 1.00 -4.50 2.50 4.50 1.00 3.00 -. -6.00 1.00 1.00 . 6.00 . 1.00 23.50 4.50 6.50 2.00 - . 20.50 -0.50 . 31.00 . - . 40.00 . . 99.50 . 0.50 -3.00 . - . 13.00 1.00 1.00 -12.501 7,00 2,25 1.00 48.oo , . - 1.00 16.50. 8.00 3.25 . 3.00 -- . 25.00 4.00 4.00 -32.00 . -13.00 1.00 1.50 38.25 1.00 3.00 44.50 2.00 1 00 -55.50 -- 1.00 54.50 -- -11.00 -. 1.00 276.75 8.00 9.50 -2.00 . - 1.00 13.00 3.00 4 00 -10.00 2.00 2.00 -11.00 1.00 2.00 1.00 36.00 6.00 8.00 6.00 I· I2!al.. Total Vacancies Recruitments + (less recruitmenls) 29.50 1.75 3/30/2004 FAH R CO MMI TTEE AG EN DA REPORT Orange County Sanitation District FROM: Lisa L. Tomko, Director of Human Resources Originator: Jim Matte, Safety & Health Supervisor Meeting Date To Bq. or-Dir. 04/14/04 It~m Number lt¢m Number FAHRM-26 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 four DART Cases District-wide for the month January-February 2004. The industry average is 4.5 for the DART Case Incidence Rate while the District Incident Rate was 4.39 for the period of January-February 2004. There were five OSHA Recordable Accidents District-wide for the period of January-February 2004. The industry average is 7 .3 for the Total Injury Frequency Rate while the District Incident Rate was 5.49 for the period of January-February 2004. The Division also tracks the District's Workers' Compensation Claims and Costs. The District's claim count for Fiscal Year 2003-2004 is six. The costs associated with these claims for year-to-date is $46,844, which includes medical bills, temporary disability payments, legal costs and a claim reserve account. * DART -Days Away, Restricted or Transfer; replaces Lost Work Day. PRIOR COMMITTEE/BOARD ACTIONS N/A PROJECT/CONTRACT COST SUMMARY N/A Revised: 06/04/03 Book page 24 Page 1 BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. ~ Not applicable (information item) ADDITIONAL INFORMATION The District had four DART cases and one other injury that required only medical treatment for the period of January-February 2004. 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 25 Page2 Safety and Health Division DART Cases District-Wide There were four DART Cases in January-February 2004 (DART -Days Away, Restricted or Transfer; replaces Lost Work Day.) Cf) 25 Q) Cf) 20 ro (.) 15 -0 ffi 10 .c E 5 ::::, 0 ' z 2000 DART Cases 2001 2002 Galendar Year 2003 2004 OSHA Incidence Rates District-Wide The industry average is 4.5 and the DART Incidence Rate for the district was 4.39 for January- February 2004. 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. 2000 OSHA Incidence Rates DART Cases 2001 2002 Galendar Year 2003 2004 Book page 26 Total Injuries District-Wide There were five OSHA Recordable Accidents in January-February 2004 Total OSHA Recordable Accidents 2000 2001 2002 Calendar Year 2003 2004 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 7.3 and the District rate was 5.49 for January-February 2004. First Aid cases are not included in the calculation of this rate. 10.00 - .Sl 8.00 (1l a:: Q) 6.00 u C: 4.00 Q) "O ·c3 2.00 ..5 0.00 OSHA Incidence Rate Total Injuries 2000 2001 2002 Calendar Year 2003 2004 Book page 27 Workers Compensation Claims and Costs The Workers Compensation Claims and Cost are reported by fiscal ye-ar. 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 -February 2004 totaled $203,259.38. 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 $113,680.69, which resulted in savings of $89,578.69 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 $270,794 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 $292,348 7/1/90 -6/30/91 76 0 $121,978 7/1/91 -6/30/92 58 2 $224,712 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 $261,983 7/1/99-6/30/00 43 2 $346,859 7/1/00-6/30/01 32 3 $433,748 7/1/01 -6/30/02 30 7 $298,147 7 /1 /02 -6/30/03 18 4 $96,307 7/1/03-6/30/04 6 5 YTD $46,844 "Total Incurred" includes medical bills, temporary disability payments to employees, legal costs, and a claim reserve account. Book page 28 FAH R COMM ITTEE Meeting Date 04/14/04 AGE NDA RE PORT Item Number FAHR04-27 Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources Originator: James Matte, Safety and Health Supervisor SUBJECT: Safety Policy, Injury and Illness Prevention Program Policy GENERAL MANAGER'S RECOMMENDATION To Bd. of Dir. 04/28/04 Item Number Approve Revision 2 of SAFETY-POL-101, Injury and Illness Prevention Program as provided for in Resolution No. OCSD 02-5 regarding the District's Injury and Illness Prevention Program. SUMMARY The District is revising its written Injury and Illness Prevention Program Policy to adopt requirements of the California Labor Code regarding multi-employer worksites. These new provisions incorporate the requirements of AB 1127 (1999) and requires contractors to follow the safety and health requirements contained in District purchase orders, contracts and contract specifications. This places into policy practices already in place. The document presented for your review and adoption represents the Districts revised written Injury and Illness Prevention Program Policy that conforms to Title 8 of the California Code of Regulations. PROJECT/CONTRACT COST SUMMARY NIA BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. IZI Not applicable (information item) ADDITIONAL INFORMATION Policy revisions required under the California Occupational Safety and Health Administration Regulations, found in Title 8 of the California Code of Regulations, and California Labor Code requirements for Multi-employer worksites. Book page 29 These revisions add the requirement to the District's Injury and Illness Prevention Program that the OCSD project manager is responsible to ensure contractors comply with their contractual requirements with respect to Cal-OSHA and District Safety and Health policies and contractual specifications. ALTERNATIVES NIA CEQA FINDINGS NIA ATTACHMENTS Attachment 1-Injury and Illness Prevention Program Policy (SAFETY-POL-101) H :ldepllfin\21 OICRANEIF AHR\FAHR2004\APRIL \Agenda Report_ SAFETY-POL-101.doc Revised: 8/20/01 Book page 30 Page 2 ORANGE COUNTY SANITATION DISTRICT Safety and Health Division SAFETY-POL-101 Injury and Illness Prevention Program APPROVALS Approved by: ___________________ Date:, ___ _ General Manager Approved by: ___________________ Date: ___ _ Director of Human Resources Manager Approved by: ___________________ Date: ___ _ Human Resources/Safety Manager PROCEDURE REVISION HISTORY Rev. Date Approval 0 01/27/2002 1 09/25/2002 2 02/25/2004 This document is controlled when viewed online. When downloaded and printed, this document becomes UNCONTROLLED, and users should check the Safety and Health Division public folder to ensure that they have the latest version. Book page 31 Injury and Illness Prevention Program SAFETY-POL-101 Contents 1. Purpose ................................................................................................. 4 2. Definitions ............................................ 1111••··············································· 4 3. Requirements ....................................................................................... 5 3.1 3.2 3.3 3.4 3.5 3.6 Program Responsibilities ......................................................................... 5 3.1.1 Administration ..................................................................................... 6 3.1.2 Management and Supervision ............................................................ 7 3.1.3 Employee ............................................................................................ 7 Hazard Awareness and Analysis ............................................................. 8 3.2.1 Pre-Use Analysis ................................................................................ 8 3.2.2 Comprehensive Safety and Health Surveys ....................................... 8 3.2.3 Periodic Self Inspections of Work Areas ............................................. 9 3.2.4 Routine Hazard Analysis .................................................................... 9 3.2.5 Employee Reports of Hazards ............................................................ 9 3.2.6 Incident and Accident Investigations ................................................. 10 3.2.7 Pattern Analysis ................................................................................ 10 Hazard Prevention and Control ............................................................. 10 3.3.1 Professional Expertise ...................................................................... 11 3.3.2 Written Safety and Health Policies and Procedures ......................... 11 3.3.3 Process Controls and Personal Protective Equipment ..................... 11 3.3.4 Emergency Preparedness and Planning .......................................... 12 3.3.5 Preventative Maintenance ................................................................ 12 Safety Training ...................................................................................... 12 3.4.1 Training Profiles ................................................................................ 12 3.4.2 Employee Training ............................................................................ 13 Safety Communication ........................................................................... 13 3.5.1 3.5.2 3.5.3 3.5.4 3.5.5 3.5.6 3.5.7 3.5.8 3.5.9 3.5.10 3.5.11 Signage ............................................................................................ 13 SafetyLine ......................................................................................... 13 Safety Awareness for Everyone (SAFE) Bulletins ............................ 13 Memorandums .................................................................................. 14 Safety Intranet .................................................................................. 15 Verbal Communication ..................................................................... 15 Safety Committee ........ , .................................................................... 15 Safety Suggestion Box ..................................................................... 15 Rewards and Recognition Programs ................................................ 15 Post Incident Safety Stand Down ..................................................... 15 Safetygram ....................................................................................... 16 Safety Policy Enforcement and Discipline ............................................. 16 Book page 32 Injury and Illness Prevention Program SAFETY-POL-101 3.6.1 Safety Policy Enforcement.. .............................................................. 17 3.6.2 Discipline for Safety Policy Infractions .............................................. 17 3.7 Accident and Incident Investigations ...................................................... 17 3.8 Recordkeeping ...................................................................................... 17 3.8.1 Inspection Records ........................................................................... 17 3.8.2 Training Records .............................................................................. 17 3.8.3 Exposure Monitoring and Medical Records ...................................... 18 3.9 Integration of Safety Compliance Initiatives ........................................... 18 3.10 Coordination of Contractor Programs .................................................... 18 4. References .......................................................................................... 18 5. Attachments ....................................................................................... 20 1. Purpose ............................................................................................... 23 2. Requirements ...................................................................................... 23 2.1 Written Compliance Programs ............................................................... 23 Book page 33 Number: SAFETY-POL-101 @ Orange County Sanitation District Revision Number: 1 Injury and Illness Prevention Program Date: September 25, 2002 1. Purpose 2. Definitions CMMS Imminent Hazard Injury and Illness Prevention Plan Manager Rev. 0 Date 1 /27 /02 Approved by: Every California employer must establish, implement and maintain a written Injury and Illness Prevention (IIPP) Program and a copy must be maintained at each worksite. The requirements for establishing, implementing and maintaining an effective written Injury and Illness Prevention Program are contained in Title 8 of the California Code of Regulations, Section 3203 (8 CCR 3203). The purpose of this Injury and Illness Prevention Program (IIPP) is to ensure the District establishes implements and maintains a safety and health program. Computerized Maintenance Management System Any condition or practice in a place of employment that constitutes a hazard which could reasonably be expected to cause death or serious physical harm immediately or before the imminence of the hazard can be eliminated through regular enforcement procedures. A written program stating what the District, management and employees will do with respect to safety. Employee who : • manages, plans, supervises and coordinates the operations and activities of one or more major District divisions and works under general direction or administrative direction of a Department Director of the General Manager, exercising discretion in applying general goals and policy statements and in resolving organizational and service delivery problems and; • Organizes and directs the work of subordinate staff, and; • Assumes significant responsibility for a variety of personnel activities in such areas as selection, training and disciplinary actions and; • Assumes significant responsibility for the preparation and 4 of 29 Book page 34 Injury and Illness Prevention Program SAFETY-POL-101 Process Program Administrator Red Tag Supervisor administration of the assigned budget(s) A series of actions or operations directed toward a result. The person assigned the task of maintaining and auditing the Injury and Illness Prevention Program A red colored tag placed by an employee prohibiting the use tools or equipment because of the belief that the use of the tool or equipment will result in an accident or injury. Employee who: • Supervises, assigns and reviews the work of subordinates in assigned sections or work units and; • Works under direction or general direction of higher level supervisory or management staff, exercising discretion in selecting appropriate resources to use in accomplishing assigned work and; • Assumes responsibility for recommending a variety of personnel actions in such areas as performance evaluation, training, selection and disciplinary measures and; • Ensures that appropriate policies and procedures are followed by subordinates and; • Monitors, coordinates and assists in developing the budget for assigned area Safety Committee A committee made up of employees representing District management and represented employees who meet to set safety goals and objectives and to solve safety related issues 3. Requ ire ments The required elements listed below are the ten elements of the Injury and Illness Prevention Program as required by the California Occupational Safety and Health Administration (Cal- OSHA). Specific details of each element may be found in specific referenced standard operating procedures, where applicable. 3.1 Program Responsibilities Rev. 2 Date 04/21/2004 This section outlines the responsibilities for the implementation and maintenance of this Injury and Illness Prevention Program. 5 of 29 Book page 35 Injury and Illness Prevention Program SAFETY-POL-101 3.1.1 Administration Rev. 2 1. The Safety Division (Safety) shall be responsible for maintaining the written Injury and Illness Prevention Program. A. The Safety Supervisor shall be the IIPP Program Administrator. 2. The Executive Management team (EMT) shall ensure that the District's safety programs have sufficient resources to maintain a safe and healthful workplace. Resources include but are not limited to: A. A competent safety staff. B. An adequate budget to maintain and improve the safety and emergency response program. C. An adequate budget for required controls to minimize safety and health risks to District personnel, suppliers and the public. D. An adequate budget for required personal protective equipment as determined by Safety. E. Time for District staff to attend required safety training at a frequency and duration determined by Safety. 3. The Safety Division, in coordination with affected divisions, shall be responsible for ensuring that safety policy, safety procedures, safety programs and safe work practices are developed. 4. Safety Division personnel shall have the authority to ensure that unsafe operations are stopped and that unsafe tools and equipment are removed from service in accordance with SAFETY-SOP-101.2, Red Tag Authority or if they believe, in their professional judgment, an imminent danger exists. 5. The District's General Manager shall be responsible for ensuring District managers and supervisors comply with the provisions of this I IPP and other safety and health programs. 6. The Manager over the Safety Division shall be responsible for ensuring the IIPP and other safety and health programs Date 04/21/2004 6 of 29 Book page 36 Injury and Illness Prevention Program SAFETY-POL-101 are implemented. 7. A copy of this IIPP shall be available to all employees either in an electronic or hard copy format. 3.1.2 Management and Supervision 3.1.3 Employee Rev. 2 Date 04/21/2004 1. Management and supervision shall ensure employees are provided with the proper tools and personal protective equipment. 2. Management and supervision shall ensure employees follow safe work practices, including but not limited to the wearing of personal protective equipment. 3. Management and supervision shall ensure employees are appropriately disciplined for infractions of safety rules, policies, procedures and programs. 4. Management and supervision shall ensure periodic inspections of work areas are completed and documented in accordance with SAFETY-SOP-101.1, Periodic Workplace Inspections. 5. Management and Supervision shall ensure that unsafe operations are stopped and that unsafe tools and equipment are removed from service in accordance with SAFETY- SOP-101.2, Red Tag Authority. 6. Management and supervision shall ensure identified hazards are reported, documented and corrected. 1. Employees shall comply with safe work practices, policies, procedures and safety programs. 2. Employees shall conduct daily inspections of their work area to check for unsafe conditions. This includes but is not limited to: A. Personal protective equipment B. Safety equipment such as fire extinguishers, safety showers and eyewashes 7 of 29 Book page 37 Injury and Illness Prevention Program SAFETY-POL-101 C. Tools and equipment D. Vehicles. 3. Employees shall correct unsafe conditions as soon as possible, including the replacement of personal protective equipment. 4. Employees shall report unsafe conditions that cannot be corrected to supervision immediately and submit a CMMS request. 5. Employees shall attend safety training at the scheduled time. 6. Employees escorting contractors, vendors or visitors shall ensure that the proper personal protective equipment is used at all times and all safe work practices are observed. 3.2 Hazard Awareness and Analysis The District has developed procedures for identifying and evaluating work place hazards, including scheduled periodic inspections to identify unsafe conditions and work practices. Inspection guidelines may be found in SAFETY-SOP-101.1, Periodic Workplace Inspection Procedures. 3.2.1 Pre-Use Analysis Engineering, Operation and Maintenance, Process Engineering, Facilities Maintenance, Purchasing or any other division proposing any process change that has the potential to impact the safety and health of District employees, contractors or visitors shall, in coordination with Safety, conduct a pre-use analysis to determine the impact on safety. Pre-use analysis shall be conducted in accordance with SAFETY-SOP-101.3 Pre- Use Analysis. 3.2.2 Comprehensive Safety and Health Surveys Rev. 2 The Safety Division, in coordination with management and supervision, shall determine the scope and frequency for any comprehensive safety, health or industrial hygiene surveys. Survey scope and frequency shall be based upon: 1. Regulatory requirements. Date 04/21/2004 8 of 29 Book page 38 Injury and Illness Prevention Program SAFETY-POL-101 2. Literature review for new information on recognized hazards. 3. Whenever new substances, processes, procedures, or equipment are introduced to the workplace that represent a new occupational safety and health hazard. 4. Employee input when applicable. 5. The best judgment of Safety. The frequency of inspections shall not exceed one inspection per calendar quarter. 3.2.3 Periodic Self Inspections of Work Areas 1. Division management and supervision shall be responsible for conducting periodic inspections of each work area to identify and evaluate hazards. 2. Periodic inspections shall be conducted in accordance with SAFETY-SOP-101.1, Periodic workplace Inspections. 3. Whenever new substances, processes, procedures, or equipment are introduced to the workplace that represent a new occupational safety and health hazard, supervision and/or management shall contact Safety to assist in a pre- Use Assessment in accordance with SAFETY-SOP-101.3, Pre-Use Analysis. 4. Whenever a manager/supervisor is made aware of a new or previously unrecognized hazard, Safety shall be contacted. 5. Division management and supervision shall not rely on periodic inspections performed by other divisions or committees as a substitute for required inspections. 3.2.4 Routine Hazard Analysis The Safety Division routinely conducts hazard analysis of District operations and construction activities for jobs the Safety Division deems hazardous and all confined space entries. 3.2.5 Employee Reports of Hazards Rev. 2 Date 04/21/2004 Employees are encouraged to report known and potential safety and health hazards. Mechanisms for reporting these hazards 9 of 29 Book page 39 Injury and Illness Prevention Program SAFETY-POL-101 include: 1. Reports to management and supervision 2. Reports through CMMS 3. Electronic mail (e-mail) to SafetyLine or Safety staff 4. Safety Suggestion boxes 5. Safety committee meetings 6. Reports to an employee's bargaining unit representative 7. Face to face meetings with Safety staff. 3.2.6 Incident and Accident Investigations Incident and accident investigations are conducted on all incidents requiring a Property Disposition Report, all motor vehicle accidents and all Cal-OSHA recordable injuries. Other incidents may be investigated at the discretion of Safety. Accident investigations shall be conducted in accordance with SAFETY-POL-202, Accident Investigation and Reporting. Incident and accident investigations are conducted on all incidents involving $ 1,000.00 of property damage, all motor vehicle accidents and all Cal-OSHA recordable injuries. Other incidents may be investigated at the discretion of Safety. Accident investigations shall be conducted in accordance with SAFETY-POL-202, Accident Investigation and Reporting. 3.2. 7 Pattern Analysis Cal-OSHA logs and accident investigations shall be periodically reviewed by Safety to determine if any accidents or near misses have similarities. 3.3 Hazard Prevention and Control Rev. 2 Date 04/21/2004 Accidents are prevented through the timely recognition and correction of hazards before someone is injured or property is damaged. 10 of 29 Book page 40 Injury and Illness Prevention Program SAFETY-POL-101 3.3.1 Professional Expertise The District will ensure that safety and emergency response division staff is adequately trained in the hazards inherent to a wastewater treatment plant. This includes providing staff with the resources necessary to perform assigned jobs, including but not limited to the following: 1. Annual professional development 2. Certification maintenance as required by the certification authority, and as provided by district policy on certification reimbursement 3. Professional memberships 4. Reference materials, such as: A. Books 8. Codes, laws, regulations and consensus standards C. Internet access in accordance with established district policy. 3.3.2 Written Safety and Health Policies and Procedures The District will develop and maintain safety policies, procedures and programs to ensure compliance with applicable Federal OSHA and Cal-OSHA requirements. Safety Policies and Procedure titles may be found in SAFETY-SOP-000.1 Control of Polices, Procedures, Programs. 3.3.3 Process Controls and Personal Protective Equipment Rev. 2 Date 04/21/2004 The District shall use engineering controls to reduce employee exposures to physical and chemical hazards. Personal protective equipment shall be used when engineering controls are not feasible, have not been installed, or when emergency situations dictate such use. The District shall provide all required personal protective equipment, except as noted in SAFETY-SOP-102.8, Employee Procured Personal Protective Equipment. 11 of 29 Book page 41 Injury and Illness Prevention Program SAFETY-POL-101 3.3.4 Emergency Preparedness and Planning The District has developed an Integrated Emergency Response Plan designed to prepare the District and employees for all types of emergencies, including but not limited to: 1. Medical emergencies 2. Fires 3. Earthquakes 4. Floods 5. High water flows 6. Utility outages 7. Hazardous materials spills 8. Threatened or actual terrorist activities 3.3.5 Preventative Maintenance The operations and facilities maintenance divisions have developed a preventative maintenance program to ensure critical equipment does not fail and that safety related equipment is properly maintained. The CMMS system tracks the scheduled maintenance of these items. 3.4 Safety Training Safety training is required for all District employees. New employees shall receive a New Employee Safety Orientation to familiarize them with the hazards of a wastewater treatment plant and District safety policies and procedures. Safety training is typically based on job classification, hazards that will be anticipated in a job and the employee's actual job duties. 3.4.1 Training Profiles Rev. 2 Date 04/21/2004 The Safety shall meet with the manager or supervisor of each employee to determine which safety training classes shall be attended by each employee. Once a safety training profile has been developed for an employee, the training listed on the profile is mandatory. Safety and manager/supervisor shall use the following criteria to determine safety training requirements: 12 of 29 Bookpage42 Injury and Illness Prevention Program SAFETY-POL-101 1. Job description 2. Actual job duties 3. The anticipated job tasks of the employee 4. Anticipated future job tasks 5. Regulatory requirements 6. District requirements based on : i. Previous job task requirements ii. Best industry practices. 3.4.2 Employee Training Employees shall receive safety training before they are required to perform a task and at the frequency specified in specific safety policies and procedures. 3.5 Safety Communication 3.5.1 Signage 3.5.2 SafetyLine The District utilizes several methods to communicate safety and health requirements, safety warnings and safety tips to all employees. The District posts hazard-warning signs where necessary to communicate safety and health requirements, safety warnings and safety tips to all employees. Signage is posted in accordance with Title 8 CCR §3340. Accident Prevention Signs. SafetyLine is a short tip on a variety of safety topics that affect District staff both on and off the job. SafetyLine is distributed to all District employees with e-mail accounts on payday. 3.5.3 Safety Awareness for Everyone (SAFE) Bulletins Rev. 2 Date 04/21/2004 SAFE bulletins are issued on specific safety related items explaining how something should be done, or explaining how specific components of a safety program are to be implemented. 13 of 29 Bookpage43 Injury and Illness Prevention Program SAFETY-POL-101 Requirements and guidelines for developing SAFE Bulletins may be found in SAFETY-POL-103, Safety Awareness for Everyone (SAFE) Bulletins. 1. SAFE Bulletins shall be considered District policy for items not covered by specific policies. 2. A list of SAFE Bulletins may be found in SAFE Bulletin 000, List of SAFE Bulletins. 3. SAFE Bulletins shall be reviewed at least every 3 years. 4. SAFE Bulletins greater than three (3) years old shall not be considered District policy. 3.5.4 Memorandums Rev. 2 Date 04/21/2004 The Safety Division will periodically issue memorandums regarding specific safety, health and hazardous waste issues. 1. Memorandums shall be limited to a single topic. 2. Memorandums may be issued for the following reasons: A. To clarify an existing policy B. To implement a new policy on an emergency basis (1) Memorandums implementing new policy requirements shall only be in force until: a. A new policy has been developed; or b. A SAFE bulletin has been developed; or c. A Ninety (90) day time period has elapsed C. To provide information D. To offer recommendations 3. A memorandum shall not revoke or supercede an adopted policy, unless authorized by the Director of Human Resources and the General Manager by signature. 4. E-mail shall not replace a memorandum. 14 of 29 Book page 44 Injury and Illness Prevention Program SAFETY-POL-101 3.5.5 Safety Intranet The Safety Division maintains an intranet site where employees can go to obtain information on safety and health issues. Employees can access the Safety Intranet site by following the instructions in attachment A. 3.5.6 Verbal Communication Safety Division staff is available for contact regarding concerns over safety and health issues. 1. Verbal communication shall not be used to change District policy. 3.5. 7 Safety Committee The district has agreed to form a labor-management safety committee to address work related safety concerns. In addition, subject specific safety sub committees may be formed at any time with the concurrence of the Labor-Management Safety Committee to address specific safety concerns. Safety Committees shall be governed in accordance with SAFETY- SOP-000.7, Safety Committees. 3.5.8 Safety Suggestion Box There are Safety Suggestion Boxes located around both Plant 1 and Plant 2. The purpose of the boxes is to allow employees to submit suggestions to Safety either by identifying themselves or anonymously. 3.5.9 Rewards and Recognition Programs Safety has developed a rewards and recognition program for employees who go above and beyond safe work practices and consistently display a positive safety attitude. 3.5.10 Post Incident Safety Stand Down Rev. 2 Date 04/21/2004 A Safety Stand Down is a procedure in which all managerial personnel shall order a review of pertinent safety requirements for their employees. The review shall be a minimum of 30 minutes to discuss safety issues that affect their specific work group or to discuss an incident that may have occurred on a 15 of 29 Bookpage45 Injury and Illness Prevention Program SAFETY-POL-101 3.5.11 Safetygram District job site. The Safety Stand Dowr-i shall occur no later than the next work shift following an incident. A Safety Stand Down shall occur when any of the following conditions occur: 1. An injury to a District employee that requires a report be made to Cal-OSHA. 2. A fatality that occurred to any persons on any District job site. 3. Any accident that results in the overnight hospitalization of 2 or more employees, District personnel or contractor personnel. 4. The District's General Manager, in consultation with the Safety and Health Division determines the need for a Safety Stand Down. A. Department and Division Managers and Supervisors may call for a Safety Stand Down at any time for their respective department and/or division. The Safety and Health Division shall be responsible for disseminating information regarding any incident requiring a Safety Stand Down and any additional information requested by management. Safetygrams are developed by the Safety and Health Division for use by management and supervision as safety tailgate meeting topics. The topics are designed to be approximately five (5) minutes in length. 3.6 Safety Policy Enforcement and Discipline Rev. 2 Date 04/21/2004 All employees, including managers and supervisors, are responsible for complying with safe and healthful work practices. All employees are responsible for complying with safety rules , policies and procedures. 16 of 29 Book page 46 Injury and Illness Prevention Program SAFETY-POL-101 3.6.1 Safety Policy Enforcement Each employee has a responsibility to ensure that work is performed in a safe manner. Employees shall report violations of safety rules and policies in accordance with established District procedures. 3.6.2 Discipline for Safety Policy Infractions Employees who violate safety rules, policies and procedures are subject to disciplinary action, up to and including termination. Discipline shall be implemented in accordance with established District policies, and bargaining unit MOUs where appropriate. Supervision and management shall be responsible for disciplining workers for failure to comply with safe and healthful work practices. 3. 7 Accident and Incident Investigations All accidents and near misses shall be investigated promptly. Accident and incident investigation shall be conducted in accordance with Safety-POL-202, Accident Investigation and Reporting. 3.8 Recordkeeping Records shall be maintained in accordance with specific Cal- OSHA requirements. Records not mentioned below are maintained in accordance with specific policies and procedures. 3.8.1 Inspection Records Records of safety inspections shall be kept 12 months after the last item found deficient has been corrected. Copies of safety inspections shall be kept in the Safety Office at Plant No. 1. 3.8.2 Training Records Rev. 2 Date 04/21/2004 Employee safety training records shall be maintained in Training Server, an electronic database. These records are retained for the length of district employment, plus five (5) years. 17 of 29 Bookpage47 Injury and Illness Prevention Program SAFETY-POL-101 3.8.3 Exposure Monitoring and Medical Records Exposure monitoring and medical records shall be retained in accordance with SAFETY-POL-403, Access to Employee Medical Records and Title 8 California Code of Regulations, §3204. Access to Employee Exposure and Medical Records. 3.9 Integration of Safety Compliance Initiatives One goal of the District's safety and health program is to ensure that safety programs are not in conflict with one another. A second goal is to ensure that the District's overall mission can be accomplished while providing a safe and healthful work environment and achieving overall compliance with all applicable regulations and laws. 3.10 Coordination of Contractor Programs The District requires all contractors that conduct business with the District to have a safety program in place and conform to District, state and federal requirements as required by approved purchase orders, contracts and specifications. Project Managers, Resident Engineers and Construction Inspectors who represent the District assigned to a project ate responsible for enforcing the safety and health requirements of the contract. 4. References Rev. 2 Date 04/21/2004 Title 8 California Code of Regulations, §3203. Injury and Illness Prevention Program Title 8 California Code of Regulations, §3204. Access to Employee Exposure and Medical Records Title 8 California Code of Regulations, §3340. Accident Prevention Signs California Labor Code, Sections 142.3, 4558 and 6401.7 California Government Code, Section 11346. California Code of Regulations, Title 8, Division 1, Department of Industrial Relations California Code of Regulations, Title 22, Division 4.5 Hazardous 18 of 29 Bookpage48 Rev. 2 Date 04/21/2004 Injury and Illness Prevention Program SAFETY-POL-101 Waste Management SAFETY-SOP-000.1, Control of Polices, Procedures, Programs SAFETY-SOP-000.7, Safety Committees SAFETY-SOP-101.1, Periodic Workplace Inspections SAFETY-SOP-101.2, Red Tag Authority SAFETY-POL-102, Personal Protective Equipment SAFETY-POL-103, Safety Awareness for Everyone (SAFE) Bulletins SAFETY-POL-104, Permit Required Confined Spaces SAFETY-POL-105, Hazardous Energy Control SAFETY-POL-106, Hearing Conservation SAFETY-POL-107, Hazard Communication Program SAFETY-POL-108, Contractor Safety Programs SAFETY-POL-109, Respiratory Protection Program SAFETY-POL-110, Radiation Safety Program SAFETY-POL-111, Chemical Hygiene Plan SAFETY-POL-112, Integrated Emergency Response Program SAFETY-POL-113 Exposure to Pathogens Program SAFETY-POL-114 Hazardous Waste Management SAFETY-POL-115 Backflow Prevention SAFETY-POL-201, Fire Prevention SAFETY-POL-202, Accident Investigation and Reporting SAFETY-POL-203, Ergonomics SAFETY-POL-204, Fall Protection SAFETY-POL-205, Electrical Safety SAFETY-POL-301, Vehicle Safety Operations (including carts and bicycles) 19 of 29 Book page 49 Injury and Illness Prevention Program SAFETY-POL-302, Marine Safety SAFETY-POL-303, Crane Safety SAFETY-POL-304, Forklift Operation SAFETY-POL-401, Medical Examinations SAFETY-POL-101 SAFETY-POL-402, Workers' Compensation Benefits and Leave SAFETY-POL-403, Access to Employee's Medical Records SAFETY-POL-404, Return to Work Programs 5. Attach ments Attachment A: Access to Safety Intranet Site Attachment B: District Safety and Health Programs Rev. 2 Date 04/21/2004 Book page 50 20 of 29 Injury and Illness Prevention Program SAFETY-POL-101 Attachment A: Access to Safety Intranet Site 1. After logging into the District's computer network, open the Internet by placing the cursor over the "Internet Explorer" icon and double click with the left button on the mouse. 2. Once The Internet Explorer has opened on opens to the District's home page., tyf:)8 "WIN" into the Internet browser box. Push the "Enter" key. 3. Using the mouse, move the cursor 01,er the "Departments" button, double click on the button. 4. Using the mouse, move the cursor over the Department's pull down menu. Select "Safety". over the "530 Safety" button. Double click on "Safety". 5. Select the specific topic you wish to view by placing the cursor over the topic and double clicking on the button. Rev.2 Date 04/21/2004 21 of 29 Book page 51 Injury and Illness Prevention Program SAFETY-POL-101 Attachment B: District Safety and Health Programs Contents 1. Purpose ............................................................................................... 23 2. Requirements ..................................................................................... 23 2.1 Written Compliance Programs ........................................................................ 23 Rev. 2 Date 04/21/2004 22 of 29 Book page 52 1. Purpose To promote a safe work environment for all employees and to ensure the District meets the safety-related legal requirements for written compliance programs. 2. Requirements It is the District's policy to provide a safe work environment for its employees. The District is committed to ensuring compliance with all safety-related legal requirements and providing the necessary training to meet these requirements. 2.1 Written Compliance Programs The written compliance programs, which are detailed in specific Safety Policies, Procedures or Safety Programs (SPs), covered by this policy are: 1. Injury and Illness Prevention Program This program is mandated by Cal-OSHA CCR Title8, §3203, Injury and Illness Prevention Program. To meet the intent of this regulation, the District has developed SAFETY-POL- 101, Injury and Illness Prevention Program and SAFETY- SP-101 District Safety and Health Program. The program includes information on safety commitment and responsibilities, hazard recognition, hazard assessment and control, safety communications, safety training, accident reporting and investigation, safety committees, and recordkeeping. 2. SAFETY-POL-102, Personal Protective Equipment Program This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Section (§) 3380, Personal Protective Devices. To meet the intent of this regulation, the District has developed SAFETY-POL-102 Personal Protective Equipment. This program includes the requirements for selection, use, and care for devices designed for head, eye, body, hand, and foot protection. Rev. A Hard Copy Is Uncontrolled Date 1/30/01 23 of 29 c:\documents and settings\gray\local settings\temporary internet files\olk13d\safety-pol-101 injury and illness prevention rev 2.doc Book page 53 Injury and Illness Prevention Program SAFETY-POL-101 Rev. 2 Date 04/21/2004 3. SAFETY-POL-103, Safety Awareness· For Everyone (SAFE) Bulletins SAFE bulletins are bulletins issued on specific safety related items explaining how something should be done, or explaining how specific components of a safety program are to be implemented. SAFE Bulletins shall be considered District policy for items not covered by specific policies. SAFE Bulletins shall be reviewed at least every 3 years. SAFE Bulletins older than 3 years old shall not be considered District policy. The policy for the development of SAFE Bulletins may be found in SAFETY-POL-103, Safety Awareness for Everyone (SAFE) Bulletins 4. SAFETY-POL-104, Permit Required Confined Spaces This program is mandated by Cal-OSHA CCR Title 8, § 5157, Permit-Required Confined Spaces. To meet the intent of the regulation, the District has developed SAFETY-POL- 104, Permit Required Confined Spaces and SAFETY-SP- 104 Permit Required Confined Spaces. This program includes the requirements for the entrant, attendant, entry supervisor, and rescue team for confined space entry activities. 5. SAFETY-POL-105, Hazardous Energy Control This program is mandated by Cal-OSHA CCR Title 8, § 3314 Cleaning, Repairing, Servicing and Adjusting Prime Movers, Machinery and Equipment. To meet the intent of this regulation, the District has developed SAFETY-POL- 105, Hazardous Energy Control Programs and SAFETY-SP- 105 Hazardous Energy Control. This program includes the requirements for working on or around equipment that is energized or has the potential to contain residual energy. 6. SAFETY-POL-106, Hearing Conservation This program is mandated by Cal-OSHA CCR Title 8, § 5097, Hearing Conservation. To meet the intent of this regulation, the District has developed SAFETY-POL-106, Hearing Conservation Programs and SAFETY-SP-106 Hearing Conservation. This program includes the requirements for designating areas where hearing protection is required and the selection, use, and care for hearing protection devices. 24 of 29 Book page 54 Rev.2 Date 04/21/2004 Injury and Illness Prevention Program SAFETY-POL-101 7. SAFETY-POL-107, Hazard Communication Program This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Section (§) 5194, Hazard Communication. To meet the intent of this regulation, the District has developed SAFETY-POL-501, Hazard Communication. This program includes the requirements for training, use, labeling, Material Safety Data Sheets (MSDS) and employee training and education. 8. SAFETY-POL-108 Contractor Safety Programs This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Subchapter 4, Construction Safety Orders. To meet the intent of this regulation, the District has developed SAFETY-POL-108, Contractor Safety Programs. This program includes the requirements for Contractor oversight for safety and health related issues by the District during the completion of contracts. 9. SAFETY-POL-109, Respiratory Protection This program is mandated by Cal-OSHA CCR Title 8, § 5144, Respiratory Protection. To meet the intent of this regulation, the District has developed SAFETY-POL-109 Respiratory Protection Program. This program includes the duties of the program administrator, supervisor, and respiratory user. Also defined in the program are the requirements for the selection, inspection, use, maintenance, and storage of respiratory protection devices. 10. SAFETY-POL-110 Radiation Safety Program This program is mandated by CCR Title 17, Division 1 , Chapter 5, Subchapter 4, Radiation and Cal-OSHA Title 8, § 5076, Radiation and Radioactivity, Administrative Procedures. To meet the intent of the regulation, the District has developed SAFETY-POL-110 Radiation Safety Program. This program includes the requirements for nuclear gauge users, contractors, service representatives, and visitors who enter into restricted areas where radioactive materials are used or stored. 11. SAFETY-POL-111, Chemical Hygiene Plan This program is mandated by Cal-OSHA CCR Title 8, § 5191, Occupational Exposure to Hazardous Chemicals in 25 of 29 Book page 55 Rev.2 Date 04/21/2004 Injury and Illness Prevention Program SAFETY-POL-101 Laboratories. To meet the intent of this regulation, the District has developed SAFETY-POL-111 Chemical Hygiene Plan and Appendix B of the Laboratory Operating Procedures Manual. This program includes the duties of the Chemical Hygiene Officer, supervisor, and laboratory employee. 10. SAFETY-POL-112, Integrated Emergency Response Program This program is mandated by Cal-OSHA CCR Title 8, § 3220 Emergency Action Plan, § 3221 Fire Prevention Plan, § Hazardous Waste Operations and Emergency Response; CCR Title 19, § 2620 et seq. and Health and Safety Code § 25500 et seq. Minimum Standards for Business, § 2400 et seq. Standardized Emergency Management Systems; Title 22, § 66265.30 through 37, Preparedness and Prevention Plan, § 66265.50 through 56, Contingency Plan and Emergency Procedures; 40 Code of Federal Regulations (CFR) Part 112, Spill Prevention Control and Countermeasure Plan. To meet the intent of all the regulations, the District has developed SAFETY-POL-112, Integrated Emergency Response Plan and SAFETY-SP- 112 Integrated Emergency Response Plan. This plan is divided into Volumes I and II. Volume I, Emergency Preparedness, contains the specific plans for preparing for an emergency. Volume II, Emergency Procedures, contains the specific plans and procedures to be implemented in response to an emergency. 13. SAFETY-POL-113, Exposure to Pathogens Program (Bloodborne Pathogens) This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Section (§) 5193, Bloodborne Pathogens for our Emergency Medical Team. Other aspects of the program are voluntary, but follow best industry practices. To meet the intent of the regulation referenced above, the District has developed SAFETY-POL-113 Exposure to Pathogens and SAFETY-SOP-113-1 Exposure Control Plan. 14. SAFETY-POL-114, Hazardous Waste Management This program is mandated by Cal-EPA, California Code of Regulations (CCR), Title 22, Division 4.5 Hazardous Waste Management. To meet the intent of this regulation, the District has developed SAFETY-POL-502 Hazardous 26 of 29 Book page 56 Rev. 2 Date 04/21/2004 Injury and Illness Prevention Program SAFETY-POL-101 Substance Management. This program includes the requirements for identification, packaging, labeling and disposal of hazardous waste. Requirements for training employees are also included 15. SAFETY-POL-115 Backflow Prevention Program This program is mandated California Department of Health Services Regulations, found in Titles 17 and 22 of the California Code of Regulations that require specific actions and practices be performed when safeguarding potable water systems. 16. SAFETY-POL-201, Fire Prevention Programs This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Sections (§) 3220, Emergency Action Plan, 3221, Fire Prevention Plan and 6150-6184, Fire Protection. To meet the intent of this regulation, the District has developed SAFETY-POL-201 Fire Prevention. This program includes the requirements for the training of employees on evacuations, and fire systems maintenance, testing and upkeep. 15. SAFETY-POL-203, Ergonomics This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Section (§) 5110, Ergonomics. To meet the intent of this regulation, the District has developed SAFETY-POL-203 Ergonomics. This program includes the requirements for evaluation of workstations, the selection, use, and care for devices designed to reduce hazards in the work place that can lead to repetitive motion and cumulative trauma injuries. 16. SAFETY-POL-204, Fall Protection This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Chapter 4, Subchapter 4, Construction Safety Orders and Subchapter 7, General Industry Safety Orders. To meet the intent of this regulation, the District has developed SAFETY-POL-204, Fall Protection. This program includes the requirements for use of fixed, portable and personal fall protection equipment. 17. SAFETY-POL-205, Electrical Safety This program is mandated by Cal-OSHA, California Code of 27 of 29 Book page 57 Injury and Illness Prevention Program SAFETY-POL-101 Rev.2 Date 04/21/2004 Regulations (CCR), Title 8, Sections (§) 2299-297 4, Electrical Safety Orders. To meet the intent of this regulation, the District has developed SAFETY-POL-205 Electrical Safety. This program includes the requirements for electrical installations, work practices when working on electrical equipment and the required personal protective equipment. 18. SAFETY-POL-301, Vehicle Safety This program is mandated by Cal-OSHA, as a general requirement of the District's Injury and Illness Prevention Program. To meet the intent of this regulation, the District has developed SAFETY-POL-301, Vehicle Safety. This program includes the requirements for vehicle inspection, vehicle maintenance and driver surveillance. 19. SAFETY-POL-302, Marine Safety This program is mandated by Cal-OSHA, as a general requirement of the District's Injury and Illness Prevention Program. To meet the intent of this regulation, the District has developed SAFETY-POL-302, Marine Safety. 20. SAFETY-POL-303, Crane Safety This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Chapter 4, Subchapter 7, Group 13, Cranes and Other Hoisting Equipment. To meet the intent of this regulation, the District has developed SAFETY- POL-303, Crane Safety. This program includes the requirements for training of personnel, inspection and maintenance of cranes. 21. SAFETY-POL-304, Forklift Operation This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Article 25, Industrial Trucks. To meet the intent of this regulation, the District has developed SAFETY-POL-304, Forklift Operation. This program includes the requirements for training of personnel, inspection and maintenance of forklifts. 22. SAFETY-POL-401, Medical Programs This program is mandated by several different Cal-OSHA standards in California Code of Regulations (CCR), Title 8, Chapter 4, subchapter 7, General Industry Safety Orders. To meet the intent of this regulation, the District has 28 of 29 Book page 58 Rev. 2 Date 04/21/2004 Injury and Illness Prevention Program SAFETY-POL-101 developed SAFETY-POL-401, Medical Examinations. This program includes the requirements for conducting medical surveillance on employees exposed to potentially hazardous work environments. 23. SAFETY-POL-402, Workers' Compensation Benefits and Leave Program. This program is represents the District's compliance with the requirements of the California Code of Regulations, Title 8, Chapter 4.5 and 8, relating to Workers' Compensation. 24. SAFETY-POL-403, Access to Employee Medical Records This program is mandated by Cal-OSHA, California Code of Regulations (CCR), Title 8, Section (§) 3204, Access to Employee Medical Records. To meet the intent of this regulation, the District has developed SAFETY-POL-403, which instructs employees how to access their occupationally related medical files. 25. SAFETY-POL-404, Return to Work Programs This program is a best industry practiced designed to return injured employees back to work on restricted duty. This program results in unspecified costs savings to the District in terms of reduced workers compensation benefits, reduced disability payments and reduced costs associated with hiring temporary employees and overtime .. 29 of 29 Bookpage59 Book page 60 FAHR CO MMI TTEE Meeting Date To Bd. of Dir. 04/14/04 04/28/04 AGENDA REPORT Item Number Item Number FAHR04-28 Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources Originator: James Matte, Safety and Health Supervisor SUBJECT: SAFETY POLICY, SAFETY-POL-107, HAZARD COMMUNICATION POLICY GENERAL MANAGER'S RECOMMENDATION Approve SAFETY-POL-107, Hazard Communication Policy as provided for in Resolution No. OCSD 02-5 regarding the District's Hazard Communication Program. SUMMARY The District is implementing a written policy to adopt requirements of the California Occupational Safety and Health Administration requirements, found in Title 8, section 5194 of the California Code of Regulations. This section requires that employers maintain a written Hazard Communication Program that includes requirements for retention of material safety data sheets, container labeling and employee information and training. The document presented for your review and adoption represents the Districts written Hazard Communication Policy that conforms to the elements defined in Title 8, section 5194 of the California Code of Regulations. PROJECT/CONTRACT COST SUMMARY NIA BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. C8J Not applicable (information item) ADDITIONAL INFORMATION Policy revisions required under the California Occupational Safety and Health Administration Regulations, found in Title 8 of the California Code of Regulations. Book page 61 This policy establishes the responsibilities for procuring hazardous materials as defined by the California Labor Code and disseminating the information on the hazards of chemicals to the end user. ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS Attachment 1-Hazard Communication Policy (SAFETY-POL-107) H:\deplllin\21 O\CRAN EIFAHRIFAHR2004\APRIL \AgendaReport_SAFETY-POL-107 .doc Revised: 8120/01 Bookpage62 Page2 ORANGE COUNTY SANITATION DISTRICT Safety and Health Division SAFETY-POL-107 Hazard Communication 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 04/28/04 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. Bookpage63 Hazard Communication Program SAFETY-POL-107 Contents 1. Purpose ................................................................................................. 3 2. Definitions ............................................................................................ 3 3. Requirements ....................................................................................... 4 3.1 Requirements for Hazardous Materials Procurements ............................ 4 3.2 Requirements for Hazardous Materials Container Labels ....................... 5 3.3 Requirements for Material Safety Data Sheets (MSDS) .......................... 5 4. Responsibilities ................................................................................... 6 4.1 Safety and Health Division ....................................................................... 6 4.2 Employee Development Division ............................................................. 7 4.3 Purchasing ............................................................................................... 7 4.4 Warehouse .............................................................................................. 7 4.5 Hazardous Materials Using Divisions ...................................................... 7 4.6 Contractors, Consultants, Visitors and Volunteers .................................. 8 5. Program Administration and Review ................................................. 8 6. References ............................................................................................ 8 7. Attach men ts ......................................................................................... 9 Rev. 0 Hard Copy Is Uncontrolled Date: April 28, 2004 2 of 9 c:\documents and settings\gray\local settings\temporary internet files\olk13d\safety-pol-107 hazard communication program.doc Book page 64 Number: SAFETY-POL-107 ~ Orange County Sanitation District Revision Number: 0 Hazard Communication Program Date: April 28, 2004 1. Purpose 2. Defin itions Container Designated representative Hazardous Material Hazard warning Health hazard Approved by: Lisa Tomko The purpose of the Hazard Communication Program is to establish a program to educate employees of the hazards of chemicals used at the District and inform employees of the methods available to control these hazards. This policy applies to all District employees, volunteers and visitors. Any bag, barrel, bottle, box, can, cylinder, drum, reaction vessel, storage tank, tank truck, or the like that contains a hazardous substance. For purposes of this section, pipes or piping systems are not considered to be containers. Any individual or organization to whom an employee gives written authorization to exercise such employee's rights under this section. A recognized or certified collective bargaining agent shall be treated automatically as a designated representative without regard to written employee authorization. Any material which is a physical hazard or a health hazard or is included in the List of Hazardous Substances prepared by the California Department of Industrial Relations Any words, pictures, symbols , or combination thereof, appearing on a label or other appropriate form of warning which convey the health hazards and physical hazards of the substance(s) in the container( s). A substance which is statistically significant evidence based on at least one study conducted in accordance with established scientific principles that acute or chronic health effects may occur in exposed employees. The term "health hazard" includes substances which are carcinogens, toxic or highly toxic agents, Rev. 0 Hard Copy Is Uncontrolled Date 04/28/04 3 of 9 c:\documents and settings\gray\local settings\temporary internet files\olk13d\safety-pol-107 hazard communication program.doc Bookpage65 Label reproductive toxins, irritants, corrosives, sensitizers, hepatotoxins, nephrotoxins, neurotoxins, . agents which act on the hematopoietic system, and agents which damage the lungs, skin, eyes, or mucous membranes. Any written, printed, or graphic material displayed on or affixed to containers of hazardous substances. Material Safety Data Written or printed material concerning a hazardous substance. Sheet (MSDS) Physical hazard Trade secret A substance which is a combustible liquid, a compressed gas, explosive, flammable, an organic peroxide, an oxidizer, pyrophoric, unstable (reactive) or water-reactive material. Any confidential formula, pattern, process, device, information, or compilation of information which gives its user an opportunity to obtain a business advantage over competitors who do not know or use it. A trade secret shall not include chemical identity information which is readily discoverable through qualitative analysis. 3. Requirements This policy is based on a simple concept -that employees have both a need and a right to know the hazards and the identities of the chemicals they are exposed to in the workplace. Employees also need to know what protective measures are available to prevent adverse effects from occurring and where to obtain this information. By making job-specific hazard information available to employers and employees, and implementing recommended precautions for safe use, the result will be a reduction in illnesses and injuries caused by chemical exposure. Together, the District's and each employee's actions will prevent the occurrence of adverse health effects from the use of chemicals in the workplace. 3.1 Requirements for Hazardous Materials Procurements 1 . Divisions requesting hazardous materials shall obtain an MSDS from the manufacturer and/or distributor prior to bringing the material onto a District facility. 2. Divisions requesting hazardous materials site shall provide the MSDS to the Safety and Health Division prior to bringing Rev. 0 Hard Copy Is Uncontrolled Date: April 28, 2004 4 of 9 c:\documents and settings\gray\local settings\temporary internet files\olk13d\safety-pol-107 hazard communication program.doc Book page 66 the material onto a District facility. 3. Divisions requesting hazardous materials shall not bring these materials onto a District facility unless the material has been approved for use by the Safety and Health Division. 3.2 Requirements for Hazardous Materials Container Labels 1. All containers of hazardous materials shall be labeled. 2. Labels shall comply with the provisions of 8 CCR 5194 Hazard Communication, subpart (f). 3. All labels shall be in English. A. Information may be printed in other languages, provided the primary label is in English. 4. District issued containers that are not the original manufacturer's container shall be labeled, tagged, or marked with the following information: A. Identity of the hazardous substance(s) contained therein; and B. Appropriate hazard warnings. 5. Manufacturer's labels shall not be removed or intentionally defaced. 3.3 Requirements for Material Safety Data Sheets (MSDS) 1. Each material safety data sheet shall be in English and shall contain the information required in 8 CCR section 5194, Hazard Communication, subpart g, Material Safety Data Sheets. 2. The District shall ensure that in all MSDS is provided for each hazardous substance, and is readily accessible during each work shift to employees when they are in their work area(s). 3. Material safety data sheets shall also be made readily available to, upon request, employees, their designated representatives, and Cal-OSHA. Rev. 0 Hard Copy Is Uncontrolled Date: April 28, 2004 5 of 9 c:\documents and settings\gray\local settings\temporary internet files\olk13d\safety-pol-107 hazard communication program.doc Book page 67 A. NIOSH and the employee's physician shall also be given access to material safety data sheets in the same manner. 4. The District shall maintain an electronic database and hard copy of all MSDS in use at the District. A. The District shall maintain a copy of all MSDS used by District contractors. 4. Responsibilities 4.1 Safety and Health Division The Safety and Health Division shall be responsible for the following : 1. Develop a written Hazard Communication Program that will minimally include the following elements: a. A list of the hazardous substances known to be present using an identity that is referenced on the appropriate material safety data sheet. b. The methods the District uses to inform employees of the hazards of non-routine tasks, and the hazards associated with substances contained in unlabeled pipes in their work areas. c. Signage and labeling for hazardous materials. d. A method to obtain and maintain material safety data sheets so they are readily available to District employees. e. Procedures to inform contractors and service providers of the provisions of the District's written program. f. The methods the District will use to provide the other employer(s) with access to the material safety data sheet and make it available to the other employer(s)' employees. Rev. 0 Hard Copy Is Uncontrolled Date: April 28, 2004 6 of 9 c:\documents and settings\gray\local settings\temporary internet files\olk 13d\safety-pol-107 hazard communication program.doc Book page 68 g. Include provisions to safeguard trade secrets h. Training and education. i. Program administration. 2. Initiate annual program reviews in accordance with the requirements of SAFETY-SP-107.1, Hazard Communication Program. 4.2 Employee Development Division 4.3 Purchasing 4.4 Warehouse The Employee Development Division shall be responsible for the following: 1. Schedule employee training and periodic refresher training. 2. Document employee training in the Training Records Management System database. The Purchasing Division shall be responsible for: 1. Selecting vendors and establishing contracts or purchase orders to procure hazardous materials. 2. Procuring only hazardous materials only for which an MSDS is on file with the Safety and Health Division Office. The Warehouse shall be responsible to: 1. Ensure packages of hazardous materials are labeled when received. 2. Not accept packages of hazardous materials that are damaged, leaking or unlabeled or have damaged labels. 4.5 Hazardous Materials Using Divisions 1. Ensure an approved MSDS is in the MSDS database prior to Rev. 0 Hard Copy Is Uncontrolled Date: April 28, 2004 7 of 9 c:\documents and settings\gray\local settings\temporary internet files\olk13d\safety-pol-107 hazard communication program.doc Book page 69 submitting a procurement request or procuring the material. a. Each using division shall ensure appropriate personal protective equipment as recommended by the MSDS is available for use by employees. 2. Ensure employees have access to MSDS during working hours. 3. Ensure employees receive training on the hazards of hazardous materials they work with or may be exposed to. 4. Conduct inspections of hazardous materials storage areas for leaking or damaged containers. a. District Project coordinators are responsible for ensuring hazardous materials storage areas are conducted for projects they are coordinating and/or overseeing. 4.6 Contractors, Consultants, Visitors and Volunteers Contractors, consultants, visitors and volunteers shall not bring hazardous materials onto any District facility unless an MSDS has been provided to the Safety and Health Division Office. 5. Program Administration and Review The Hazard Communication Program shall be managed and administered by the Safety and Health Division. This Hazard Communication Program shall be evaluated annually to ensure that it is effective. Program reviews shall occur in November of each calendar year. 6. References Title 8, California Code of Regulations, Section 5194, Hazard Communication SAFETY-POL-101 Injury and Illness Prevention Program SAFETY-SP-107 .1 Hazard Communication Program Rev. 0 Hard Copy Is Uncontrolled Date: April 28, 2004 8 of 9 c:\documents and settings\gray\local settings\temporary internet files\olk13d\safety-pol-107 hazard communication program.doc Book page 70 7. Attachments None Rev. 0 Hard Copy Is Uncontrolled Date: April 28, 2004 9 of 9 c:\documents and settings\gray\local settings\temporary internet files\olk13d\safety-pol-107 hazard communication program.doc Book page 71 FAHR COMMI TTEE Meeting Date To Bd. cif Dir. 04/141/04 04/28/04 AGE NDA REPORT Item Ji.lumber Item Nurnner FAHR04-29 Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources Originator: James Matte, Safety and Health Supervisor SUBJECT: SAFETY POLICY, SAFETY-POL-108, CONTRACTOR SAFETY POLICY GENERAL MANAGER'S RECOMMENDATION Approve SAFETY-POL-108, Contractor Safety Policy as provided for in Resolution No. OCSD 02-5 regarding the District's Contractor Safety Program. SUMMARY The District is implementing a written policy to adopt best management practices to ensure contractors working on District projects maintain a safe and healthful workplace as required by the California Occupational Safety and Health Administration. This policy will also reduce risk to the District from Cal-OSHA liability with regards to multi- employer worksites. The document presented for your review and adoption represents the Districts written Contractor Safety Policy. PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted . ~ Not applicable (information item) ADDITIONAL INFORMATION New policy required under the California Occupational Safety and Health Administration Regulations, found in Title 8 of the California Code of Regulations and the California Labor Code. This policy requires the District to collect and evaluate information about a contractor's safety and health history to ensure they provide their employees with a safe and healthful workplace by showing compliance with Cal-OSHA and California Labor Code Book page 72 requirements. Contractors who fail to meet established criteria will be prohibited from working on District construction projects for a period not to exceed 1 year. ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS Attachment 1-Contractor Safety Policy (SAFETY-POL-108) H:ldeptlfinl210\CRANEIFAHRIFAHR2004\APRIL\AgendaReport_SAFETY•POL-108.doc Revised: 8120/01 Book page 73 Page2 ORANGE COUNTY SANITATION DISTRICT Safety and Health Division SAFETY-POL-108 Contractor Safety 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 3/24/04 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 74 Contractor Safety Program SAFETY-POL-108 Contents 1. Purpose ................................................................................................. 3 2. Definitions ............................................................................................ 3 3. Requirements ....................................................................................... 4 3.1 Safety and Health Division ....................................................................... 4 3.2 On-Site Activity Representative ............................................................... 4 3.3 Procurement Organizations ..................................................................... 7 4. Program Administration and Evaluation ........................................... 8 5. References ............................................................................................ 8 6. Attachments ......................................................................................... 8 Rev. 0 Date: April 28, 2004 2 of 8 Book page 75 Number: SAFETY-POL-108 ~ =---Orange County Sanitation District Revision Number: 0 Contractor Safety Program Date: April 28, 2004 1. Purpose 2. Definitions Cal-OSHA Competent Person Construction Contract Contractor Approved by: Lisa Tomko The purpose of this policy is to establish safety and health requirements for contractors to follow while performing work on District contracts. The California Occupational Safety and Health Administration A person who is capable of identifying existing and predictable hazards in the surroundings or working conditions which are unsanitary, hazardous, or dangerous to employees, and who has authorization to take prompt corrective measures to eliminate such hazards. The planned trenching, renovation, addition, repair alteration, painting, new construction, maintenance, removal, or wrecking of any fixed structure or its parts. A verbal or written agreement or purchase order between the District and a Contractor. Any non-District person on a District site for business purposes or acting on the District's behalf Imminent Hazard A substantial probability that death or serious physical harm (danger) could result On-site Activity Representative Responsible Division The District employee who has been designated to oversee and monitor the Contractor activities for the Responsible Division. Examples may include, but are not be limited to the following: Project Manager, Resident Engineer, Construction Inspector, Engineering Division Manager, Lead Facilities Worker. The District division that is the requester of services. Rev. 0 Hard Copy Is Uncontrolled Date 4/28/04 3 of 8 c:\documents and settings\gray\local settings\temporary internet files\olk13d\safety-pol-108 contractor safety program.doc Book page 76 Shall Should Title 8 CCR Contractor Safety Program A mandatory requirement A recommended requirement Title 8 of the California Code of Regulations SAFETY-POL-108 3. Requirements 3.1 Safety and Health Division Rev. 0 1. Develop and implement documented programs and procedures for contractors to follow during the execution of a contract. 2. The documented programs and procedures for contractors shall contain the following elements: A. Qualification of contractors and proposed sub contractors. B. Requirements for compliance with applicable regulatory requirements if not addressed in specific program areas. C. Job Site Safety Analysis (JSSA). D. Job Hazard Analysis (JHA). E. Hot Work Permit Program. F. Hazardous Energy Control Program coordination. (1) Including hazardous energy control procedures G. Confined Space Entry Procedure review and coordination. H. A review of contractor identified Site Safety Precautions. I. A review of contractor's Training/Qualification Documentation as required by Cal-OSHA. Date: April 28, 2004 4 of 8 Book page 77 Contractor Safety Program SAFETY-POL-108 J. Review/Approval of contractor safety and health programs. K. Coordination of concurrent work with District employees. L. Prohibition of use of District equipment unless authorized by the Director of Engineering or the Director of Operations and Maintenance and the Controller (Risk Management) and the Safety and Health Supervisor (or designee). M. OCSD Engineering and Purchasing specification changes and reviews for safety and health items. 3. Conduct periodic audits of operations that expose District personnel to hazardous situations and increase the risk of regulatory enforcement actions against the District due to work performed by a contractor. 4. Exercise authority to cause the immediate cessation of operations in any situation presenting imminent jeopardy to the safety and health of any personnel or loss of property 5. Identify and communicate to the On-site Activity Representative any safety or health risks and appropriate control measures. 3.2 On -Site Activity Representative Rev.a Date: April 28, 2004 1. Prior to the bidding pro_cess, review the project scope and schedule as it affects site safety or health issues. A. Discussions shall include Safety and Health, Operations, Maintenance, Collections or any other affected organizations. 2. Ensure that the Contractor has met with Safety and Health prior to the start of work. A. The Job Site Safety Analysis shall be completed before the start of work. 3. Inform the Contractor of changes to District policy or State and Local regulations that may affect safety compliance on 5 of 8 Book page 78 Rev. 0 Date: April 28, 2004 Contractor Safety Program SAFETY-POL-108 the job site. 4. Bring safety and health observations to the attention of the Contractor. 5. Suspend Contractor activities that pose a safety, health or environmental risk to people or the job site. A This includes : ( 1 ) Activities observed. (2) Activities brought to the representative's attention by other District employees. (3) Activities brought to the representative's attention by the general public. (4) Activities brought to the representative's attention by Safety and Health (5) Activities brought to the representative's attention by other contractors (6) Activities brought to the representative's attention by regulatory personnel. 6. Discipline any Contractor for repeated disregard of District safety and health policies or State and Local regulations. Discipline may include: A Removal of specific individuals from the job site. (1) Removal may be temporary or permanent (2) Repeated disregard of safety rules shall require permanent removal. 8. Removal of specific equipment or materials from the job site. C. Work stoppage until unsafe conditions are corrected. D. Work stoppage until appropriate personal protective equipment, tools, equipment, etc. are provided to employees. E. Work stoppage until the Contractor documents proper 6 of 8 Book page 79 Contractor Safety Program SAFETY-POL-108 training and certification to perform a task as required by District policy or State and Local regulations. F. Termination or the Contractor's contract. 7. Resolve issues involving the Contractor's safety performance. 8. Ensure that site control is maintained. This includes: A. The establishment of appropriate traffic control measures. ( 1) For motor vehicles. (2) For bicycles (3) For pedestrians (4) Other means of transportation B. The assignment of personnel to oversee traffic control as necessary to ensure safety. 9. Shall ensure that all accidents or incidents involving Contractor personnel are reported to Safety and Health within 8 hours of the incident. 3.3 Procurement Organizations Rev. 0 Date: April 28, 2004 1. Incorporate safety and health clauses in the contract documents. A. Adherence to applicable Cal-OSHA requirements B. Adherence to applicable Federal OSHA requirements C. Adherence to applicable California and Federal environmental requirements. D. Adherence to applicable Local ordinances E. Adherence to applicable District policies and procedures as specified in SAFETY-SP-108.1 and SAFETY-SP-108.2. 2. Request and forward the Contractor's safety performance 7 of 8 Book page 80 Contractor Safety Program SAFETY-POL-108 history to the Safety and Health for review and evaluation. 4. Program Administration and Evaluation The Construction Safety Program shall be managed and administered by the Safety and Health Division. Construction Safety Program shall be evaluated annually by the Construction Safety and Health Sub Committee to ensure that it is in compliance with State and Federal laws and regulations. 5. References Title 8, California Code of Regulations, Subchapter 4. Construction Safety Orders SAFETY-POL-101 Injury and Illness Prevention Program SAFETY-SP-108.1 Contractor Qualification Program SAFETY-SP-108.2 Requirements for Contractor Safety Programs 6. Attachments None Rev. 0 Date: April 28, 2004 Book page 81 8 of 8 FAH R CO MM ITTEE Meeting Date To Bd. of Dir. 04/14/04 04/28/04 AG ENDA REPORT Item Number Item Number . FAHR04-30 Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources Originator: James Matte, Safety and Health Supervisor SUBJECT: SAFETY POLICY, SAFETY-POL-115, BACKFLOW PREVENTION POLICY GENERAL MANAGER'S RECOMMENDATION Approve SAFETY-POL-115, Backflow Prevention Program, Revision 1 as provided for in Resolution No. OCSD 02-5 regarding the District's Backflow Prevention Program. SUMMARY The District is revising the written policy that adopted requirements of the California Department of Health Services Regulations, found in Titles 17 and 22 of the California Code of Regulations that require specific actions and practices be performed when safeguarding potable water systems. These revisions are to definitions to standardize new language adopted in the above referenced regulations. The document presented for your review and adoption represents the Districts written Backflow Prevention Policy that conforms to the elements defined in the California Department of Health Services, Titles 17 and 22 of the California Code of Regulations. 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. l:g] Not applicable (information item) ADDITIONAL INFORMATION Revisions to definitions in policy to conform to revised definitions found in the California Department of Health Services Regulations, Titles 17 and 22 of the California Code of Regulations. The definitions in the document passed by the Board in February 2004 were revised in Department of Health Services Regulations, Titles 17 and 22 of the Book page 82 California Code of Regulations the February 2004. The new definitions are effective May 1, 2004. ALTERNATIVES NIA CEQA FINDINGS NIA ATTACHMENTS Attachment 1-Backflow Prevention Policy (SAFETY-POL-115, Rev 1) H:\depllfin\21 0ICRAN EIFAHRIFAHR2004\APRIL\AgendaReport_ SAFETY-POL-115.doc Revised: 8/20/01 Book page 83 Page2 ORANGE COUNTY SANITATION DISTRICT Safety and Health Division SAFETY-POL-115 Backflow Prevention 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 2/28/04 L. Tomko 1 4/28/04 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 84 Backflow Prevention Program SAFETY-POL-115 Contents 1. Purpose ................................................................................................. 3 2. Definitions ............................................................................................ 3 3. General .................................................................................................. 4 4. Instructions-New Construction ........................................................... 4 5. Training and Communication ............................................................. 6 6. Recordkeeping ..................................................................................... 6 7. Program Administration and Evaluation ........................................... 7 8. References ............................................................................................ 7 9. Attachments ......................................................................................... 7 Rev. 0 Date: April 28, 2004 2 of7 Book page 85 Number: SAFETY-POL-115 ~ Orange County Sanitation District Revision Number: 0 Backflow Prevention Program Date: April 28, 2004 1. Purpose 2. Definitions Air Gap Separation (AG) Auxiliary Water Supply AWWA Standard Backflow Backsiphonage Rev. 0 Date 4/28/04 Approved by: Lisa Tomko This policy has been developed to protect the Orange County Sanitation District (OCSD) water distribution system from contamination and/or pollution resulting from the backflow, back- siphonage or cross connection into a potable water service connection(s). The OCSD shall develop and implement a backflow prevention and cross connection program that complies with state and local regulations. This policy applies to all designs, installations, maintenance or testing function related to an OCSD water distribution system. This policy shall also act as the mechanism for compliance with existing OCSD specifications, policies and procedures while protecting employee and public health. A physical separation between the free flowing discharge end of a potable water supply pipeline and an open or non-pressure receiving vessel. An "approved air gap" shall be at least double the diameter of the supply pipe measured vertically above the over flow rim of the vessel-in no case less than 1 inch (2.54 cm). Any water supply on or available to the premises other than the approved water supply. This shall include used water; water which has passed through the water meter, polluted or contaminated, or they may be objectionable and constitute an unacceptable water source. An official standard developed and approved by the American Water Works Association. A flow condition, caused by a differential in pressure that causes the flow of unapproved water or other contaminants into the potable supply source. Backflow caused by negative or reduced pressure in the supply piping. 3 of 7 Book page 86 Backflow Prevention Program SAFETY-POL-115 Backpressure Carrying Water Cross Connection Cross- Connection Control Specialist (Water Resources Specialist) Backflow caused by positive or higher pressure in the user's system. Potable water that is used to dilute and/or assist in the delivery of another substance (usually a chemical product) to a pre- determined discharge point An unprotected actual or potential connection between a potable water system used to supply water for drinking purposes and any source or system containing unapproved water or a substance that is not or cannot be approved as safe, wholesome and potable. By-pass arrangements, jumper connections, removable sections, swivel or changeover devices or other devices through which backflow could occur, shall be considered cross-connections. A person certified by the California-Nevada Section of the American Water Works Association, per Title 17&22, and shall maintain a valid Plumbing Inspector Certification issued by the International Conference of Building Officials and International Association of Plumbing and Mechanical Officials, per Uniform Plumbing Code 2000, and shall maintain a valid Cross- Connection Tester Certification issued by the Orange County Health Department Double Valve Check An assembly of at least two independently acting check valves including tightly closing shut-off valves on each side of the check valve assembly and test cocks available for testing the water tightness of each check valve. Fire Protection Water Industrial Water Plant Water Potable Water Recycled Water Reduced Pressure Principle Rev. 0 Date: April 28, 2004 A domestic potable water supply protected by a double check detector assembly that is used for internal fire suppression. This includes standpipes and hydrants. Potable water that is protected by a backflow device. Unfiltered, secondary effluent that is not for general public use. Includes seal water and wash down water Water provided by a water purveyor A wastewater which as a result of treatment is suitable for uses other than potable use. A backflow preventer incorporating not less than two check valves, an automatically operated differential relief valve located between the two check valves, a tightly closing shut-off on each side of the check valve assembly, and is equipped 4of7 Book page 87 User Connection Water Purveyor Water User 3. General Backflow Prevention Program SAFETY-POL-115 with the necessary test cocks for testing. - The point of connection of a user's piping to the water supplier's facilities. The person or entity that owns or operates a water system. Any person or entity obtaining water from a public water supply. The OCSD shall install, operate, maintain and protect our water systems by controlling actual or potential cross-connections via: 1. Promoting elimination of existing or future cross- connections through scheduled inspections and regulation of water system construction and operation within OCSD facilities. 2. Properly installing and maintaining backflow preventers where actual or potential cross-connections exist to prevent backflow or back siphonage of contaminants or pollutants into OCSD water systems. 3. All installations shall comply with regulatory requirements and shall be commensurate with the degree of hazard that exists. 4. Instructions-New Construction Rev. 0 Date: April 28, 2004 1. Backflow prevention shall be installed in accordance with OCSD Specification, Sections 15100 and 15115. 2. The specifications shall include but not be limited to the following elements: A. Submittal of the job-specific backflow prevention devices. 8. Submittal of the backflow preventer testing documentation. C. Identification of locations where the contractor's work will require use of a backflow preventer (specify type). 5 of 7 Book page 88 Backflow Prevention Program SAFETY-POL-115 3. The Construction Inspector is responsible to ensure that backflow prevention devices are tested by an independent third party and copies of the test results are forwarded to the CMMS Group for inclusion into that system. 5. Train ing and Com munication A training program to educate applicable OCSD staff on: 1. The requirements of this policy, 2. The operating procedures by which it is implemented and 3. Job-specific role(s)/responsibility(ies). 6. Recordkeep ing 1. A database within the Computer Maintenance Management System (CMMS) to properly inventory and maintain existing backflow preventers . 2. The database shall include "at will" backflow preventers, used on an as needed basis, and those currently in service on OCSD property. 3. This database should include but not be limited to the following elements: A. The name of the device, B. Manufacturer, C. Serial Number (manufacturer), D. Loop Tag Number (OCSD), E. Location (if in service), F. Date of purchase, G. Date of manufacture, H. Most recent certification test data, I. Date of the next scheduled or required certification test 4. A list of approved backflow prevention assemblies which will Rev. 0 Date: April 28, 2004 6 of 7 Book page 89 Backflow Prevention Program SAFETY-POL-115 be made available to OCSD employees and the public by written or electronic request. 7. Program Ad mi nistration and Evalu ation The Backflow Prevention Program shall be managed and administered by the Mechanical Maintenance Division. 8. References SAFETY-POL-101 Injury and Illness Prevention Program OCSD Engineering Specifications, Sections 15100 and 15115 OCSD Engineering Guidelines, Chapters 2 and 6 OCSD Instrument and Equipment Tagging Procedure California Code of Regulations, Title 17, Chapter 5 California Code of Regulations, Title 22, Division 4 American Water Works Association, Standard C506 Water Recycling 2030: Recommendations of California's Recycled Water Task Force, California Department of Water Resources, June 2003 Approved Backflow Prevention Assemblies for Service Isolation, California Department of Health Services, August 2002 California Health Laws Related to Recycled Water, "The Purple Book". Most Recent Edition. California Department of Health Services, Recycled Water Unit. 9. Attach ments None Rev. 0 Date: April 28, 2004 7 of7 Book page 90 Book page 91 FAHR COMMITTEE Meeting Date To Bd. of Dir. 04/14/04 04/28/04. AGENDA REPORT Item Number Item Number FAHR04-31 Orange County Sanitation District FROM: Gary Streed, Director of Finance SUBJECT: DEDICATING REVENUES FOR PAYMENT OF DEBT OBLIGATIONS GENERAL MANAGER'S RECOMMENDATION Recommend to the Board of Directors the approval of Resolution Number OCSD 04-09, dedicating revenu_es for the payment of debt obligations in order to reaffirm and to clarify the Board's prior actions in 1992 and 1998. SUMMARY In 1992 the Board first adopted a policy declaring the District's intent to use ad valorem property tax revenues first for repayment of debt obligations, including interest. While it was clearly the intent of staff when the resolution was adopted to include not only the then-existing "debt" but future borrowing as well, the language is not specific. The policy has been included in the documentation enabling subsequent Certificates of Participation, but staff and General Counsel believe it is appropriate to adopt a new resolution that cannot be misunderstood. PRIOR COMMITTEE/BOARD ACTIONS • Resolutions Nos. 92-47-1 et seq. • Resolution OCSD No. 98-26 • COP documentation for Series 2000 and Series 2003 PROJECT/CONTRACT COST SUMMARY There are no costs associated with this policy. BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. ·• This item has not been budgeted. 1ZJ Not applicable (information item) ADDliTIONAL INFORMATION None H:\dept\fin\210\CRANEIFAHRIFAHR2004\APRIL\AgendaReport_ property tax dedication 2004.doc Revised: 06/04/03 Book page 92 Page 1 ALTERNATIVES Do not adopt the proposed Resolution. CEQA FINDINGS N/A ATTACHMENTS 1. Resolution No. OCSD 04-09 H:ldepllfin\210\CRANE\FAHRIFAHR2004\APRIL\AgendaReport_ property tax dedicaUon 2004.doc Revised: 06/04/03 Book page 93 Page2 RESOLUTION NO. OCSD 04-09 DEDICATING REVENUES FOR THE PAYMENT OF DEBT OBLIGATIONS A RESOLUTION OF THE BOARD OF DIRECTORS OF ORANGE COUNTY SANITATION DISTRICT, DEDICATING ITS REVENUES FOR PAYMENT OF DEBT OBLIGATIONS WHEREAS, District is a County Sanitation District organized and existing pursuant to the provisions of the County Sanitation District Act, California Health & Safety Code Sections 4700 et seq.; and WHEREAS, District obtains revenues to meet its obligations for providing wastewater, collection, treatment and disposal facilities and services to the residents and businesses in twenty-four Cities and the unincorporated areas of Orange County; and WHEREAS, the most reliable sources of revenues are the ad valorem property taxes and annual sewer service charges; and WHEREAS, said revenues are required in order to provide construction and rehabilitation of capital facilities, and to operate and maintain all of its collection, treatment and disposal facilities; and WHEREAS, said revenues are obtained from various sources, including ad valorem property taxes, sanitary sewer service charges and earned interest on investments; and WHEREAS, the District, in order to fulfill the capital facilities requirements of its 30-year Master Plan, issued Refunding Certificates of Participation for financing said requirements in the years 1992, 1993 and 2000, and issued additional Certificates of Participation in August 2003, and will do so again in 2005 and subsequent years, to assist in paying the cost of the acquisition and construction of additional District facilities; and WHEREAS, the loss or reduction of ad valorem property tax revenues could result in a significant adverse impact on the District's ability to meet its obligations under the terms of such financing documents; and WHEREAS, Districts, in the course of the issuance of its Certificates of Participation financing, has received very favorable credit ratings based upon its financial stability and the reliability of its sources of revenues, thus resulting in more favorable interest rates on the obligations and a lower net cost to the taxpayers and ratepayers; and WHEREAS, future financing obligations will be most cost effective if the District again receives favorable credit ratings and is able to sell its obligations at the lowest possible interest rates; and 1 Book page 94 WHEREAS, the District has determined that (a) a dedication of its revenues, and in particular its ad valorem taxes, towards the payment of its obligations under long-term financing, past and future, will benefit the taxpayers and ratepayers of the District in that it provides greater assurance of the payment of its debt obligations; and (b) dedicated reliable revenue sources and the related higher credit ratings are of considerable importance to investors purchasing the long-term financing obligations of the District, as is evidenced by the successful prior financing issues which were able to rely upon both the ad valorem tax revenues and the annual sewer service charges; and WHEREAS, the District has previously adopted Resolutions Nos. 92-47-1 et seq. and Resolution No. OCSD 98-26 dedicating revenue for the payment of its debt obligations; and WHEREAS, District wishes to reaffirm the policy of its Predecessor Districts and this consolidated District, of dedicating its revenue sources for payment of its debt obligations. NOW, THEREFORE, the Board of Directors of Orange County Sanitation District, DOES HEREBY RESOLVE, DETERMINE AND ORDER: Section 1: To assure the continued financial viability of this District, District hereby dedicates its revenues, in the following order of priority: First: Second: Third: Its ad valorem property tax revenues; Its sanitary sewer service charges; and All other revenues, to meet its on-going debt obligations pursuant to the Master Agreement for District obligations dated as of August 1, 2000, and Refunding Certificates of Participation 1992 Series; Refunding Certificates of Participation 1993 Series; and Refunding Certificates of Participation 2000 Series; and Certificates of Participation dated August 2003, and any future obligations issued pursuant to the Master Agreements of August 1, 2000, and any future agreement or agreements for the acquisition, construction, maintenance, or operation of the sewers, and works of other facilities designated by the District as receiving the benefit of this dedication. PASSED AND ADOPTED at a meeting held ______ , 2004. Chair ATTEST: Board Secretary 2 Book page 95 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Gary G. Streed, Director of Finance Originator: Michael D. White, Controller Meeting Date To Bd. of Dir. 4/14/04 4/28/04 · Item Number Item Number FAHR04-32 SUBJECT: DEFERRED PAYMENT AGREEMENTS FOR CHARGES AND FEES OWED BY THREE INDUSTRIAL WASTEWATER DISCHARGE PERMITTEES GENERAL MANAGER'S RECOMMENDATION Recommend the Board of Directors approve three deferred payment agreements negotiated by the General Manager for the collection of all charges and fees owed, plus interest of 7% per annum, with Dae Shin USA, Inc., Expo Dyeing & Finishing, Inc., and Y2K Textile, Inc. SUMMARY Dae Shin USA, Inc., Expo Dyeing & Finishing, Inc., and Y2K Textile, Inc. are holders of industrial wastewater discharge permits issued by the District that require the payment of sanitary sewer service charges and industrial discharge permit fees for the cost of conveying, treating and disposing of wastewater discharged. Based on the terms of the permits, these permittees are required to pay estimated quarterly sewer service charges that are reconciled annually with actual discharge flows and levels of biochemical oxygen demand and total suspended solids. All three permittees are now in default of their payment obligations and the General Manager, in accordance with Resolution No. OCSD 98-23, Article Ill, "Collection of Fees and Charges Relating to Industrial Waste Dischargers", has negotiated deferred payment agreements with these three permittees requiring monthly payment terms plus interest of 7% per annum. The table below shows the first date of delinquency (when amount owed was not paid in full), the number of months negotiated for repayment, the total amount owed as of April 1, 2004, and the total amount of principal and interest to be collected for each permittee: Date of Repayment Owed as of Aggregate Permitee Delinquency Period April 1, 2004 Amount Owed Dae Shin USA 9/30/03 12 months $266,711.70 $276,932.35 Expo Dyeing 9/30/02 18 months $168,916.89 $178,431.94 Y2K Textile 9/30/03 24 months $203,013.54 $218,146.55 Should any of the permittees default on their agreements, the District has the right to revoke the permit and perfect liens and other security interests as deemed appropriate as security for the outstanding obligation. Revoking the discharge permit would make it impossible for one of these companies to continue their primary operations. H:ldeptlfin\21 O\CRANEIFAHRIFAHR2004\APRIL\Agenda Report Re_deferred payment agreements (3).doc Revised: 06/04/03 Book page 96 Page 1 PRIOR COMMITTEE/BOARD ACTIONS None. PROJECT/CONTRACT COST SUMMARY Not applicable BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. ~ Not applicable (information item) ATTACHMENTS 1. Three (3) Negotiated Deferred Payment Agreements H:ldept\fin\210\CRANE\FAHRIFAHR2004\APRIL\Agenda Report Re_deferred payment agreements (3).doc Revised: 06/04/03 Book page 97 Page 2 DEFERRED PAYMENT AGREEMENT THIS AGREEMENT is entered into, to be effective April 1, 2004, by and between Orange County Sanitation District ("District"), a county sanitation district duly organized and existing pursuant to Section 4 700 et seq. of the Health & Safety Code of the State of California and Dae Shin USA, Inc., a California Corporation. RECITALS A. District is a wastewater treatment agency, which owns and operates wastewater collection treatment and disposal facilities which receive, treat and discharge through an ocean outfall, wastewater received from dischargers within its jurisdictional boundaries. Pursuant to District's Wastewater Discharge Regulations Ordinance No. OCSD-01 ("District's Ordinance"), District issues industrial wastewater discharge permits to persons/entities which discharge wastewater into the District's sewerage system. B. As part of the District's wastewater operations, District imposes certain charges and fees on permittees, requiring such permittees to pay their share of the District's costs of conveying, treating and disposing of wastewater discharged by such permittees. C. Jae Weon Lee ("Dae Shin USA, Inc." or "Permittee11 ) is the holder of an industrial wastewater discharge permit issued by District and is responsible for paying sanitary sewer service charges and industrial discharge permit fees for the cost of conveying, treating and disposing of wastewater discharged from Dae Shin USA lnc.'s facility located at 610 N. Gilbert St., Fullerton, California. D. Since September 30, 2003, District has issued to Permittee Invoice No.'s 903378, 511765 and 512218 which total $297,475.39, for charges and fees then due and owing to the District. E. Dae Shin USA, Inc. has failed to pay the presently owing sum of $266,711.70 and has requested additional time to pay this outstanding obligation. 1 Book page 98 F. Pursuant to Resolution 98-23 of the Orange County Sanitation District, the District is authorized to enter into deferred payment agreements for limited sums and of limited duration. G. The District and Dae Shin USA, Inc. intend to provide additional time for Dae Shin USA, Inc. to pay to District the amounts presently due on Invoice No.'s 903378, 511765 and 512218 in accordance with the requirements of Resolution 98-23. NOW, THEREFORE, in consideration of the facts recited above and the conditions, covenants and promises set forth below, District and Dae Shin USA, Inc. agree as follows: AGREEMENT 1. Permittee shall make payments (including principal and interest, at 7% per annum) to the District, pursuant to the following payment schedule: Admin . Installment Principal Interest Charges Total Due Date Due 1 21,521.88 1,555.82 25.00 23,102.70 04/15/04 2 21,647.42 1,430.27 25.00 23,102.69 05/15/04 3 21,773.70 1,304.00 25.00 23,102.70 06/15/04 4 21,900.71 1,176.98 25.00 23,102.69 07/15/04 5 22,028.47 1,049.23 25.00 23,102.70 08/15/04 6 22,156.96 920.73 25.00 23,102.69 09/15/04 7 22,286.21 791.48 25.00 23,102.69 10/15/04 8 22,416.22 661.48 25.00 23,102.70 11/15/04 9 22,546.98 530.72 25.00 23,102.70 12/15/04 10 22,678.50 399.19 25.00 23,102.69 01/15/05 11 22,810.79 266.90 25.00 23,102.69 02/15/05 12 22,943.86 133.84 25.00 23,102.70 03/15/05 2. Permittee also shall pay to District, all other invoices issued by the District for newly incurred charges and fees during the term of this Agreement in accordance with the provisions of District's Ordinance. 3. If any payment described herein is not received by the District on or before the due date specified, the entire balance then owing shall, at the District's sole and absolute discretion, become immediately due and payable, and interest at the rate 2 Book page 99 of ten percent (10%) per annum shall accrue on any such unpaid balance from the date of acceleration until the date that the balance due is fully paid to the District. In addition, if any payment is not received by the District on or before the due date, in addition to interest that shall continue to accrue until the payment is received in full, a late fee equal to ten percent (10%) of the delinquent amount shall immediately be due and payable to District by Dae Shin USA, Inc. 4. In consideration of the foregoing, District agrees to refrain from instituting collection or permit revocation proceedings, which remedies are presently available to the District as a result of Dae Shin USA lnc.'s current failure to pay Invoice No.'s 903378, 511765 and 512218. This provision to refrain from instituting such proceedings shall be effective with regard to Invoice No.'s 903378, 511765 and 512218 as long as Dae Shin USA, Inc. remains in compliance with the terms of this Agreement. 5. Dae Shin USA, Inc. acknowledges that the failure to pay current invoices, or failure to pay any installment as provided herein, may be grounds for revocation of any industrial wastewater discharge permit issued to Dae Shin USA, Inc. by District, and shall additionally be deemed a breach of this Agreement, thereby giving rise to all legal remedies available to District. 6. Should any litigation be commenced between the District and Dae Shin USA, Inc. regarding enforcement of this Agreement, or the rights and any duties of the parties in relation thereto, the prevailing party in such litigation shall be entitled, in addition to such other relief as may be granted, to a reasonable sum as and for its attorney fees and costs in the litigation which shall be determined by the court in such litigation or in a separate action brought for that purpose. 7. Nothing in this Agreement shall affect Dae Shin USA, Inc. obligation to pay current and/or future charges for use of District's sewerage system or Dae Shin USA, Inc. obligation to comply with all other conditions and requirements of its industrial wastewater discharge permit and the District's Ordinance. 3 Book page 100 8. Nothing herein shall affect the District's right to enforce all requirements and conditions of the District's Ordinance. 9. This Agreement is made only for the benefit of the parties hereto. It is not intended that any right under this Agreement shall accrue to any third person. 10. Entire Agreement. Waiver and Modification. This Agreement is the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether oral or written, between the parties with respect to the matters contained in this Agreement. Any waiver, modification, consent or acquiescence with respect to any provision of this Agreement shall be set forth in writing and duly executed by or on behalf of the party to be bound thereby. No waiver by any party of any breach hereunder shall be deemed a waiver of any other or subsequent breach. 11. Jurisdiction and Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of California. Any action to enforce the terms of this Agreement shall be brought and pursued in the Superior Court for the County of Orange. 12. Agreement Execution Authorization. Each of the undersigned represents and warrants that he or she is duly authorized to execute and deliver this Agreement and that such execution is binding upon the entity for which he or she is executing this document. 13. Costs and Expenses. As provided by section 3.2.1, of District Resolution 98-23, Permittee shall be solely responsible for costs and expenses incurred by District in preparing and administering this Agreement, including legal and administrative costs. These legal and administrative costs, total $300.00. 14. Time of Essence. Time is of the essence in the performance of and compliance with each of the provisions and conditions of this Agreement. 4 Book page 101 15. Legal Advice. Each party represents and warrants to the other the following: they have carefully read this Agreement, and in signing this Agreement, they do so with full knowledge of any right which they may have; they have received independent legal advice from their respective legal counsel as to the matters set forth in this Agreement, or have knowingly chosen not to consult legal counsel as to the matters set forth in this Agreement; and, they have freely signed this Agreement without any reliance upon any agreement, promise, statement or representation by or on behalf of the other party, or their respective agents, employees, or attorneys, except as specifically set forth in this Agreement, and without duress or coercion, whether economic or otherwise. 16. Liens. As part of the consideration provided to the District under the terms of this agreement, the District and Dae Shin USA, Inc. agree and acknowledge that Dae Shin USA, Inc. will assist the District in perfecting liens and other security interests as District, in its sole and absolute discretion, deems appropriate as security for the obligation described herein. 17. Notices. All notices or other communications required or permitted hereunder shall be in writing and shall be personally delivered or sent by registered or certified mail, postage prepaid, return receipt requested, delivered or sent by electronic transmission, and shall be deemed received upon the earlier of: (i) the date of delivery to the address of the person to receive such notice if delivered personally or by messenger or overnight courier; (ii) three (3) business days after the date of posting by the United States Post Office if by mail; or (iii) when sent if given by electronic transmission with confirmation of receipt. Any notice, request, demand, direction, or other communication sent by electronic transmission must be confirmed within forty- eight (48) hours by letter mailed or delivered. Notices or other communications shall be addressed as follows: 5 Book page 102 Mar·Z5·D4 03:4Zp1 From·OCSD FINANCE District Permittee: 7149623954 T-439 P.07/07 F-412 Orange County Sanitation District P.O. Box 8127 Fountain Valley, CA 92708-7018 Attention: Angela Belt, Finance Department Dae Shin USA, Inc. 610 N. Gilbert St., Bldg C Fullerton, CA 92834 Attention: Jae Wean Lee 18. Recitals. The Recitals above are hereby incorporated into this section as though fully set forth herein and each party acknowledges and agrees that such Party is bound, for purposes of this Agreement, by the same. IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first written above. Orange County Sanitation District B~, srfkerr.derson General Manager Dae Shin USA Jn,c /1 I ~ - BY~-/ JaeWeone 6 Book page 103 --, -Var-16-04 ·o(:4Bpm From·OCSD FINANCE 7149623954 T-400 P.DB/DB F·Z35 Amortize1 .ids Amortization Table 'A simple amortization table covering 24 payment periods of a loan. 1) To use 1he table, simply change any of the values in the "inital data" area of the worksheet. 2) To print the table, just choose "Print'' from the "File" menu. The print area is already defined. Initial Data LOAN DATA TABLE DATA Loan amount $266,711.70 ~.ln'~J~l'~~'i:l;~ Annual interest rate: 7.000% ~~-.w,,~t::E-i..~~-»- Table starts at date: or at payment number: 1 Term in years: 1 Payments per year: 12 First payment due; 4/15/2004 PERIODIC PAYMENT Entered payment: Calculated payment $23,077.70 C.S~!.CULA TI CNS Use payment of: $23,077.70 1st payment in table: 1 Table INo. Payment Beginning Cate Balance 1 4/15/2004 266,711.70 2 5/15/2004 245,189.82 3 6/15/2004 223,542.40 4 7/15/2004 201,768.70 5 8/15/2004 179,867.99 6 9/15/2004 157 839.53 7 10/15/2004 135,682.56 8 11/15/2004 113,396.35 9 12/15/2004 90.980.13 10 1/15/2005 68,433.15 11 2/15/2005 45,754.65 12 3/15/2005 22.943.86 The table uses the calculated periodic payment amount unless you enter a value for "Entered payment". Beginning balance at payment 1 : Cumulative interest prior to payment 1: Ending Interest Princi1'13I Balance 1,555.82 21,521.88 245,189.82 1,430.27 21,647.42 223,542.40 1,304.00 21.773.70 201.768.70 1,176.98 21,900.71 179,867.99 1,049.23 22,02B.47 157,839.53 920.73 22,156.96 135 682.56 791.48 22,286.21 113,396.35 661.48 22,416.22 90,980.13 530.72 22,546.98 68 433.15 399.19 22,678.50 45,754.65 266.90 22,810.79 22,943.86 133.84 22.943.86 0.00 266,711.70 0.00 Cwnulative Interest 1,555.82 2,986.09 4,290.09 5,467.07 6,516.30 7,437.03 8,228.S2 8,889.99 9 4:20.71 9,819.91 10,086.81 10.220.65 I : I I I I ' Page 1 Book page 104 10,220.65 266,711.70 Book page 105 DEFERRED PAYMENT AGREEMENT THIS AGREEMENT is entered into, to be effective April 1, 2004, by and between Orange County Sanitation District ("District"), a county sanitation district duly organized and existing pursuant to Section 4700 et seq. of the Health & Safety Code of the State of California and Expo Dyeing & Finishing Inc., a California Corporation. RECITALS A. District is a wastewater treatment agency, which owns and operates wastewater collection treatment and disposal facilities which receive, treat and discharge through an ocean outfall, wastewater received from dischargers within its jurisdictional boundaries. Pursuant to District's Wastewater Discharge Regulations Ordinance No. OCSD-01 ("District's Ordinance"), District issues industrial wastewater discharge permits to persons/entities which discharge wastewater into the District's sewerage system. 8. As part of the District's wastewater operations, District imposes certain charges and fees on permittees, requiring such permittees to pay their share of the District's costs of conveying, treating and disposing of wastewater discharged by such permittees. C. Eduardo Kim ("Expo Dyeing & Finishing, Inc." or ''Permittee") is the holder of an industrial wastewater discharge permit issued by District and is responsible for paying sanitary sewer service charges and industrial discharge permit fees for the cost of conveying, treating and disposing of wastewater discharged from Expo Dyeing & Finishing, lnc.'s facility located at 1365 Knollwood Circle, Anaheim, California. D. Since September 30, 2002, District has issued to Permittee Invoice No.'s 509963,902732,510428,26026,26311,510890,26682,511340,27080,512238, 27865, and 512657 which total $179,916.88 for charges and fees then due and owing to the District. E. Expo Dyeing & Finishing, Inc. has failed to pay the presently owing sum of 1 Book page 106 $ 168,916.89 and has requested additional time to pay this outstanding obligation. F. Pursuant to Resolution 98-23 of the Orange County Sanitation District, the District is authorized to enter into deferred payment agreements for limited sums and of limited duration. G. The District and Expo Dyeing & Finishing, Inc. intend to provide additional time for Expo Dyeing & Finishing, Inc. to pay to District the amounts presently due on Invoice No.'s 509963, 902732, 510428, 26026, 26311, 510890, 26682, 511340, 27080, 512238, 27865, and 512657 in accordance with the requirements of Resolution 98-23. NOW, THEREFORE, in consideration of the facts recited above and the conditions, covenants and promises set forth below, District and Expo Dyeing & Finishing, Inc. agree as follows: AGREEMENT 1. Permittee shall make payments (including principal and interest, at 7% per annum) to the District, pursuant to the following payment schedule: Admin . Installment Pri ncipal Interest Charges Total Due Date Due 1 8,927.54 985.35 25.00 9,937.89 05/1/04 2 8,979.61 933.27 25.00 9,937.88 06/1/04 3 9,032.00 880.89 25.00 9,937.89 07/1/04 4 9,084.68 828.20 25.00 9,937.88 08/1/04 5 9,137.68 775.21 25.00 9,937.89 09/1/04 6 9,190.98 721.91 25.00 9,937.89 10/1/04 7 9,244.59 668.29 25.00 9,937.88 11/1/04 8 9,298.52 614.37 25.00 9,937.89 12/1/04 9 9,352.76 560.12 25.00 9,937.88 01/1/05 10 8,407.32 505.57 25.00 9,937.89 02/1/05 11 9,462.19 450.69 25.00 9,937.88 03/1/05 12 9,517.39 395.49 25.00 9,937.88 04/1/05 13 9,572.91 339.98 25.00 9,937.89 05/1/05 14 9,628.75 284.13 25.00 9,937.88 06/1/05 15 9,684.92 227.97 25.00 9,937.89 07/1/05 16 9,741.41 171.47 25.00 9,937.88 08/1/05 17 9,798.24 114.65 25.00 9,937.89 09/1/05 18 9,855.40 57.49 25.00 9,937.89 10/1/05 2 Book page 107 2. Permittee also shall pay to District, all other invoices issued by the District for newly incurred charges and fees during the term of this Agreement in accordance with the provisions of District's Ordinance. 3. If any payment described herein is not received by the District on or before the due date specified, the entire balance then owing shall, at the District's sole and absolute discretion, become immediately due and payable, and interest at the rate of ten percent (10%) per annum shall accrue on any such unpaid balance from the date of acceleration until the date that the balance due is fully paid to the District. In addition, if any payment is not received by the District on or before the due date, in addition to interest that shall continue to accrue until the payment is received in full, a late fee equal to ten percent ( 10%) of the delinquent amount shall immediately be due and payable to District by Expo Dyeing & Finishing, Inc. 4. In consideration of the foregoing, District agrees to refrain from instituting collection or permit revocation proceedings, which remedies are presently available to the District as a result of Expo Dyeing & Finishing lnc.'s current failure to pay Invoice No.~509963,902732,510428,26026,26311,510890,26682,511340,27080, 512238, 27865 and 512657. This provision to refrain from instituting such proceedings shall be effective with regard to Invoice No.'s 509963, 902732, 510428, 26026, 26311, 510890, 26682, 511340, 27080, 512238, 27865, and 512657 as long as Expo Dyeing & Finishing, Inc. remains in compliance with the terms of this Agreement. 5. Expo Dyeing & Finishing, Inc. acknowledges that the failure to pay current invoices, or failure to pay any installment as provided herein, may be grounds for revocation of any industrial wastewater discharge permit issued to Expo Dyeing & Finishing, Inc. by District, and shall additionally be deemed a breach of this Agreement, thereby giving rise to all legal remedies available to District. 6. Should any litigation be commenced between the District and Expo Dyeing & Finishing, Inc. regarding enforcement of this Agreement, or the rights 3 Book page 108 and any duties of the parties in relation thereto, the prevailing party in such litigation shall be entitled, in addition to such other relief as may be granted, to a reasonable sum as and for its attorney fees and costs in the litigation which shall be determined by the court in such litigation or in a separate action brought for that purpose. 7. Nothing in this Agreement shall affect Expo Dyeing & Finishing, Inc. obligation to pay current and/or future charges for use of District's sewerage system or Expo Dyeing & Finishing, Inc. obligation to comply with all other conditions and requirements of its industrial wastewater discharge permit and the District's Ordinance. 8. Nothing herein shall affect the District's right to enforce all requirements and conditions of the District's Ordinance. 9. This Agreement is made only for the benefit of the parties hereto. It is not intended that any right under this Agreement shall accrue to any third person. 10. Entire Agreement. Waiver and Modification. This Agreement is the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether oral or written, between the parties with respect to the matters contained in this Agreement. Any waiver, modification, consent or acquiescence with respect to any provision of this Agreement shal\ be set forth in writing and duly executed by or on behalf of the party to be bound thereby. No waiver by any party of any breach hereunder shall be deemed a waiver of any other or subsequent breach. 11. Jurisdiction and Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of California. Any action to enforce the terms of this Agreement shall be brought and pursued in the Superior Court for the County of Orange. 12. Ag reement Execution Authorization. Each of the undersigned represents and warrants that he or she is duly authorized to execute and deliver this Agreement and that such execution is binding upon the entity for which he or she is executing this 4 Book page 109 DEFERRED PAYMENT AGREEMENT THIS AGREEMENT is entered into, to be effective April 1, 2004, by and between Orange County Sanitation District ("District"), a county sanitation district duly organized and existing pursuant to Section 4700 et seq. of the Health & Safety Code of the State of California and Y2K Textile, Inc., a California Corporation. RECITALS A. District is a wastewater treatment agency, which owns and operates wastewater collection treatment and disposal facilities which receive, treat and discharge through an ocean outfall, wastewater received from dischargers within its jurisdictional boundaries. Pursuant to District's Wastewater Discharge Regulations Ordinance No. OCSD-01 ("District's Ordinance"), District issues industrial wastewater discharge permits to persons/entities which discharge wastewater into the District's sewerage system. B. As part of the District's wastewater operations, District imposes certain charges and fees on permittees, requiring such permittees to pay their share of the District's costs of conveying, treating and disposing of wastewater discharged by such permittees. C. Kyung Jo Park ("Y2K Textile, Inc." or "Permittee") is the holder of an industrial wastewater discharge permit issued by District and is responsible for paying sanitary sewer service charges and industrial discharge permit fees for the cost of conveying, treating and disposing of wastewater discharged from Y2K Textile, lnc.'s facility located at 2051 Raymer Avenue, Fullerton, California. D. Since September 30, 2003, District has issued to Permittee Invoice No.'s 903375, and 511762 which total $211,013.54 for charges and fees then due and owing to the District. E. Y2K Textile, Inc. has failed to pay the presently owing sum of $203,013.54, and has requested additional time to pay this outstanding obligation. 1 Book page 110 F. Pursuant to Resolution 98-23 of the Orange County Sanitation District, District is authorized to enter into deferred payment agreements for limited sums and of limited duration. G. The District and Y2K Textile, Inc. intend to provide additional time for Y2K Textile, Inc. to pay to District the amounts presently due on Invoice No.'s 903375, and 511762 in accordance with the requirements of Resolution 98-23. NOW, THEREFORE, in consideration of the facts recited above and the conditions, covenants and promises set forth below, District and Y2K Textile, Inc. agree as follows: AGREEMENT 1. Permittee shall make payments (including principal and interest, at 7% per annum) to the District, pursuant to the following payment schedule: Admin. Installment Principal Interest Charges T otal Due Date Due 1 7,905.19 1,184.25 25.00 9,114.44 04/15/04 2 7,951.31 1,138.13 25.00 9,114.44 05/15/04 3 7,997.69 1,091.75 25.00 9,114.44 06/15/04 4 8,044.34 1,045.10 25.00 9,114.44 07/15/04 5 8,091.27 998.17 25.00 9,114.44 08/15/04 6 8,138.47 950.97 25.00 9,114.44 09/15/04 7 8,185.94 903.50 25.00 9,114.44 10/15/04 8 8,233.69 855.75 25.00 9,114.44 11/15/04 9 8,281.72 807.72 25.00 9,114.44 12/15/04 10 8,330.03 759.41 25.00 9,114.44 01/15/05 11 8,378.63 710.81 25.00 9,114.44 02/15/05 12 8,427.50 661.94 25.00 9,114.44 03/15/05 13 8,476.66 612.78 25.00 9,114.44 04/15/05 14 8,526.11 563.33 25.00 9,114.44 05/15/05 15 8,575.84 513.60 25.00 9,114.44 06/15/05 16 8,625.87 463.57 25.00 9,114.44 07/15/05 17 8,676.19 413.25 25.00 9,114.44 08/15/05 18 8,726.80 362.64 25.00 9,114.44 09/15/05 19 8,777.70 311.73 25.00 9,114.43 10/15/05 20 8,828.91 260.53 25.00 9,114.44 11/15/05 21 8,880.41 209.03 25.00 9,114.44 12/15/05 22 8,932.21 157.23 25.00 9,114.44 01/15/06 23 8,984.32 105.12 25.00 9,114.44 02/15/06 2 Book page 111 Mar-17-04 DZ:44pm From-OCSD FINANCE 7149623954 T-406 P.04/09 F-258 24 2. f.036. 73 _ 52. 7'L I 25.00 9, 114.44 03/15/06 ~:1:-,,otJ,p /.:rraJ,r-,_ tro --+/rl''-14,d .. P&m1mee also shall pay to DJstrict, au other invoices issuea by the D1stnct for newly incurred charges and fees durin~ the term of this Agreement in accordance with the provisions of District's Ordinance. 3. If any payment described herein is not received by the District on or before the due date specified, the entire balance then owing, at the District's sole and absolute discretion, shall become immedlt4tely due and payable, and interest st the rate I of ten percent (10%) per annum shall accry,,e on any such unpaid balance from the date of acceleration until the date that the balance__E.ue I~ fully paid toJhe Qlsfcict In addition, if any payment is not received by the District on or before the due date, in addition to interest that shall continue to a~crue until the payment is received in full, a late fee~ 'to ten percent (10%) of the ~inquent amou~ shall immediately be due and payable to District by Y2K Textile, Inc; / 4. In consideration of the foregting, District agrees to refrain from instituting collection or permit revocation proceedings, which remedies are presently available to the District as a result of Y2K Textile, Inc. current failure to pay Invoice No.'s 903375 I and 511762. This provision to refrain fro"1 instituting such proceedings shall be effective with regard to Invoice No.'s 9033r5 and 511762 as long as Y2K Textile, Inc. remains in compliance with the terms of t~is Agreement. 5. Y2K Textile, Inc. acknowled~es that the failure to pay current invoices, or ' failure to pay any installment in accordanqe with the schedule set forth in Paragraph 1 herein, may be grounds for revocation of i"Y industrial wastewater discharge permit issued to Y2K Textile, Inc. by District, and1shall additionally be deemed a breach of this Agreement, thereby giving rise to all legal remedies available to District 6. Should any litigation be com~enced between the District and Y2K Textile, Inc. regarding enforcement at this Agreement, or the rights and any duties of the parties in relation thereto, the prevailing party in such litigation shall be entitled, in I I 3 Book page 112 addition to such other relief as may be granted, to a reasonable sum as and for its attorney fees and costs in the litigation which shall be determined by the court in such litigation or in a separate action brought for that purpose. 7. Nothing in this Agreement shall affect Y2K Textile, lnc.'s obligation to pay current and/or future charges for use of District's sewerage system or Y2K Textile, lnc.'s obligation to comply with all other conditions and requirements of its industrial wastewater discharge permit and the District's Ordinance. 8. Nothing herein shall affect the District's right to enforce all requirements and conditions of the District's Ordinance. 9. This Agreement is made only for the benefit of the parties hereto. It is not intended that any right under this Agreement shall accrue to any third person. 10. Entire Agreement. Waiver and Modification. This Agreement is the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether oral or written, between the parties with respect to the matters contained in this Agreement. Any waiver, modification, consent or acquiescence with respect to any provision of this Agreement shall be set forth in writing and duly executed by or on behalf of the party to be bound thereby. No waiver by any party of any breach hereunder shall be deemed a waiver of any other or subsequent breach. 11. Jurisdictioh and Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of California. Any action to enforce the terms of this Agreement shall be brought and pursued in the Superior Court for the County of Orange. 12. Agreement Execution Authorization. Each of the undersigned represents and warrants that he or she is duly authorized to execute and deliver this Agreement and that such execution is binding upon the entity for which he or she is executing this document. 4 Book page 113 13. Costs and Expenses. As provided by section 3.2.1, of District Resolution 98-23, Permittee shall be solely responsible for costs and expenses incurred by District in preparing and administering this Agreement, including legal and administrative costs. These legal and administrative costs total $600.00. 14. Time of Essence. Time is of the essence in the performance of and compliance with each of the provisions and conditions of this Agreement. 15. Legal Advice. Each party represents and warrants to the other the following: they have carefully read this Agreement, and in signing this Agreement, they do so with full knowledge of any right which they may have; they have received independent legal advice from their respective legal counsel as to the matters set forth in this Agreement, or have knowingly chosen not to consult legal counsel as to the matters set forth in this Agreement; and, they have freely signed this Agreement without any reliance upon any agreement, promise, statement or representation by or on behalf of the other party, or their respective agents, employees, or attorneys, except as specifically set forth in this Agreement, and without duress or coercion, whether economic or otherwise. 16. Liens. As part of the consideration provided to the District under the terms of this agreement, the District and Y2K Textile, Inc. agree and acknowledge that Y2K Textile, Inc. will assist the District in perfecting liens and other security interests as District, in its sole and absolute discretion, deems appropriate as security for the obligation described herein. 17. Notices. All notices or other communications required or permitted hereunder shall be in writing and shall be personally delivered or sent by registered or certified mail, postage prepaid, return receipt requested, delivered or sent by electronic transmission, and shall be deemed received upon the earlier of: (i) the date of delivery to the address of the person to receive such notice if delivered personally or by messenger or overnight courier; (ii) three (3) business days after the date of posting by 5 Book page 114 j Mar-17-04 02:45pm Fram-OCSD FINANCE 7149623954 T-406 P.07/09 F-258 the United States Post Office if by mail; orj(III) when sent if given by electronic transmission with confirmation of receipt. (\ny notice, request, demand, direction, or other communication sent by electronic tr~nsmission must be confirmed within forty- eight (48) hours by letter mailed or delivered. Notices or other communications shall be I addressed as follows: District: Pennittee: Orange County Sanitation District P.O. Box 8127 Fountain Valley, CA 92708-7018 Attention: Angela Belt, Finance Department Y2K Textile, Inc. 2051 East Raymer Ave Fullerton, CA 92833 Attention: Kyung Jo Park 18. Recit als. The Recitals abov• are hereby incorporated into this section as though fully set forth herein and each party acknowledges and agrees that such Party is bound, for purposes of this Agreement, bJ the same. IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year first written above. I Ora~z:~ BY· ",(,..LA.....(..C---- Blake P. Anderson General Manager Kyung J~ Pa~ / BY:.....:l_~-4---"""""""o:;....;...-~-------- ¥cr/~ 16 Book page 115 Mar-1T~D4 02:45pm From-OCSD FINANCE 7149623954 T-406 P.09/09 F-ZSB Amortize 1.xl& I Amortization Table A simple amortization table covering 24 payment perjods of a joan. 1) To use the table, simply change any of the values in the "inital data" area of the worksheet. 2) To print the table, just choose "Print'' from the "File" menu. The print area is already defined. I itial Data · TABLE DATA Loan amount:\ $203,01 3.54 Annual interest rate: 7.000% m~}.ll~~:W. Table starts at date:! or at payment n1Jmber:11 Term in years: 2 Payments per year: 12 First payment due: t 911 /2003 PE RIOOIC PAYMENT Entered payment: The table uses the Cl:llculated periodic payment amount Calculated payment: $9,089,44 (lnfess y0,1 enter a value for ffEntered payment". CJ, CUL}\ TtONS Use payment of: $9,089.44 Beginning balance at payment 1: 203,013.54 1st payment in table: 1 Cumulative interest prior to payment 1 : 0.00 T able Payment Beginning . Ending Cumulative j Ne. Cate Balance Interest Princioal Balance Interest 1 9/1/2003 203,013.54 1,184.25 7,~05.19 195,108.35 1,184.25 ... 10/1/2003 195,108.35 1,138.13 7, ~51.31 187,157.04 2,322.38 .. 3 11/1/2003 187.157.04 1,091.75 7, ~97.69 179.159.35 3,414.13 4 12/1/2003 179,159.35 1,045-10 8, 144.34 171,115.00 4,459.22 5 1/1/2004 171,115.00 998.17 8, l91 .27 163,023.74 5,457.39 E 2/1/2004 163,023.74 950.97 8 138.47 154 885.27 6.408.37 i 3/1/2004 154,885.27 903.50 a,pas.94 146,699.32 7,311.86 e 4/1/2004 146,699.32 855.75 ~'.~33.69 138,465.63 8,167.61 9 5/1/2004 138.465,63 807.72 8 81.72 130183.91 8 975.33 1 I 6/1/2004 130,183.91 759.41 8,G30.03 121,853.87 9,734.73 1 7/1/2004 121,853.87 710.81 8,378.63 113,475.25 10,445.55 , 8/1/2004 113,475.25 661.94 8 427.50 105,047.75 11.107.48 1 9/1/2004 105,047.75 612.78 8,476.66 96,571.09 11,720.26 1 10/112004 96,571.09 563.33 ~~26.11 88,044.98 12,283.59 1 11/1/2004 88 044.98 513.60 8 75.84 79 469.13 12,797.19 11 12/1/2004 79,469.13 463.57 8,625.87 70,843.26 13,2G0.76 1 1/1/2005 70,843.26 413.25 8~6.19 62,167.08 13,674.01 1 211/2005 62,167.08 362.64 8. 6.60 53440.28 14,036.65 1 I 3/1/2005 53,440.28 311.73 8,777.70 44,662.57 14,348.39 21 4/112005 44,662.57 260.53 8~28.91 35,833.67 14,608.92 2 5/1/2005 35,833.67 209.03 8i880.41 26 953.26 14 817.95 2 6/1/2005 26,953.26 157.23 8932.21 18,021.04 14,975.18 2 7/1/2005 18,021.04 105.12 8 984.32 9,036.73 15,080.30 2 8/1/2005 9.036.73 52.71 ✓9 036.73 0.00 15,133.01 15,133.01 203,013.5 I Book page 116 FAHR COMMITTEE AGE NDA REPORT Orange County Sanitation District FROM: Gary G. Streed, Director of Finance Originator: Michael D. White, Controller Meeting Date 04/14/04 Item Number FAHR04-33 SUBJECT: RESPONSES TO INTERNAL AUDIT REPORT ISSUED ON MARCH 3, 2004 GENERAL MANAGER'S RECOMMENDATION To Bd. of Dir. Item .Number Receive, approve, and file staff's responses to the Internal Audit Report issued on March 3, 2004 by the District's contracted internal auditors, Moss, Levy & Hartzheim. SUMMARY In February 2004, the Finance, Administration and Human Resources (FAHR) Committee appointed Moss, Levy, & Hartzheim to serve as the District's contracted internal auditors for FY 2003-04. At the March 2004 FAHR meeting, the auditors presented their first report to the Committee on findings, potential effects and related recommendations from their interim work during February 25-27, 2004. The attached memorandum recaps the contracted internal auditors' thirteen (13) findings, effects, and recommendations and staff's responses to these 13 items. PRIOR COMMITTEE/BOARD ACTIONS In order to remain independent of staff, the auditors presented their written report directly to the committee without previously providing staff with a copy. At the March FAHR meeting, the Committee directed staff to provide a written response to the auditors report. PROJECT/CONTRACT COST SUMMARY NIA BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. [ZI Not applicable (information item) ATTACHMENTS Memorandum to FAHR dated April 14, 2004. H:\depl\~n\210\CRANE\FAHR\FAHR2004\APRIL\AgendaReport_Responses to IA Report of 3-3-04.doc Revised: 06/04/03 Book page 117 Page 1 April 14, 2004 TO: FROM: MEMORANDUM Finance, Administration and Human Resources Committee Michael D. White, Controller SUBJECT: Responses to Internal Audit Report Issued on March 3, 2004 In February 2004, the Finance, Administration and Human Resources (FAHR) committee appointed Moss, Levy, & Hartzheim to serve as the District's contracted internal auditors for FY 2003-04. At the March 2004 FAHR meeting, the auditors presented their first report to the committee on findings, potential effects and related recommendations from their interim work during February 25-27, 2004. In order to remain independent of staff, the auditors presented their written report directly to the committee without previously providing staff with a copy. At the March FAHR meeting, the committee directed staff to provide a written response to the auditors report. Below is a listing of the auditors findings contained within their March 3, 2004 report along with staff responses. A. Board Minutes Finding #A 1 -Approval of Sole Source Contracts: During our review of board minutes, we noted that the board approved material contracts without competitive biding (sole source). Effect: The District may commit to a higher contract price than necessary. Recommendation: Contracts of material amounts should not be sole source to avoid possible higher contract price. OCSD • P.O.Box8127 • FountainValley,CA 92728-8127 • (714)962-2411 Book page 119 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 2 of 13 Staff Response Staff is in general agreement with the finding and recommendation. However, sole source contracts are sometimes approved by the Board because of extenuating circumstances. Examples include situations where there is only one vendor who can provide the requested goods or services, or when the need to act promptly might out weigh the need to put a bid out on the street when available documentation exists to show that we have a competitive price. The Board approved purchasing resolution and delegation of authority allows staff to make sole source purchases under certain conditions which are well documented. B. Cash and Investment Finding #81 -Bank Reconciliation -Stale Dated Checks: During our review of the monthly bank reconciliation of the general operating account, we noted that some of the outstanding checks were more than six months old. Effect: Incorrect cash balance was presented. Recommendation: The District should inform the bank to stop payment of those outstanding checks and the district should reverse those checks. Staff Response Finance Department policy on stale-dated checks is to leave them as stale-dated reconciling items on the monthly bank reconciliation for a period of 36 months. After 36 months, these unclaimed funds become the property of the District per California Government Code Section 50050. This methodology allows for the easiest way of tracking unclaimed property. Although most banks won't honor stale-dated checks presented for payment, the Finance Department's review of the electronic daily bank report downloaded from the internet each morning at 7:30 a.m. highlights any stale-dated checks presented for payment and allows the District the opportunity to reject them. In addition, the bank will not allow us to place a stop payment on a stale-dated check. They will only allow us to cancel the check altogether. If a check that had been canceled was presented, it would appear as a "non-issued check" on the District's electronic daily bank report and we would have until 9:30 a.m. to reject this check. From the bank's perspective, there is no difference in the processing and handling of stale-dated checks vs. canceled checks. Book page 120 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 3 of 13 Separate accounting systems would have to be developed and maintained in order to track stale-dated checks as outstanding liabilities after six months and up 36 months, the amount of time that must pass before they can legally be written off. Such a system would yield little benefit because we would be increasing cash on the District's books and creating an offsetting liability for amounts that are immaterial. As of February 28, 2004, stale-dated checks totaled $74,000. Staff believes this amount is immaterial to conclude that the District's cash balance is incorrectly stated. At June 30, 2003, cash and cash equivalents totaled $10.1 million and cash and investments totaled $427 million. In addition, the District has an excellent bank reconciliation system in place. Over the past four years, the District's general bank account has been reconciled monthly to the penny within 10 days of receipt of the bank statement. The bank reconciliation is performed by the general ledger accountant, who has no involvement with daily deposits or the processing of payments to vendors. Upon completion, the bank reconciliation is reviewed and approved by the Accounting Supervisor, and then by the Controller. Finding #82 -Monthly Investment Statement During our review of the custodian bank, Mellon Trust, monthly investment statement, we noted that the statement presents percentage of total market value for each type of security but does not calculate percentage based on cost. Effect: The more a security declines in its value, the lesser the percent of the total market value and therefore, the less significant is the percentage and thus less importance is attached to it. Recommendation: The District should have the custodian bank present both percentages. Staff Response Contained within the Monthly Treasurer's Report is a statement that presents percentage of total market value for each type of security. In addition, there is another statement within the report that discloses both the percentage of the market value of each individual security to the total market value of all securities, and the percentage of cost of each individual security to the cost for all securities. Book page 121 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 4 of 13 Finding #83 -Significant Decline in Security's Value and Violation of Investment Policy During our review of the monthly investment statement, we noted that the value of the United Airline Passthrough Bonds purchased on August 22, 2001 and maturing on March 1, 2010 for the cost of $1.6 million has significantly declined. The bonds' current market value is $289,680. Also, the purchase of these corporate bonds is a violation of the District's investment policy because the investment policy only permits the purchase of corporate notes not bonds with a maturity of 5 years or less. Effect: It is a violation of the District's investment policy and reduces future investment earnings. Recommendation: The District should send a notification to PIMCO of the violation and or discussion with them as to the $1,310,320 unrealized loss. Staff Response: Section 12.2.1 of the FY 2003-04 Investment Policy states that the maximum final stated maturity of individual securities in the Long Term Operating Monies account portfolio shall be five (5) years from the date of purchase unless otherwise authorized by the Districts' Board of Directors (Board Minute Order dated January 22, 1997 has authorized the District's external money managers, PIMCO, to purchase individual securities providing the securities are permitted under Section 8.0 of this policy, which may have a stated maturity of more than five (5) years from the date of purchase). Although Callan & Associates, the District's Investment Compliance and Performance Monitoring Consultant, PIMCO, the District's Investment Manager, and District staff interpreted a corporate bond to be a corporate note with a maturity longer than five- years, staff believes that this should be further clarified in the update to the investment policy that will be coming to the Committee in June 2004. The United Airline (UAL) Passthrough Bonds have dropped significantly in value since UAL filed bankruptcy in December 2002. The bankruptcy filing was the result of the high costs and low airfares that had plagued the airline industry since the September 11, 2001 terrorist attack on the World Trade Center. The decline in the UAL bonds has been highly predominate on page 1 of the Monthly Treasurer's Report as far back as the January 2002 Monthly Treasurer's Report when investment ratings on these bonds began to fall. These pass through bonds are asset-backed securities that have specific airline planes pledged as security. PIMCO believes that the underlying value of these collateralized assets exceeds the current market value of the securities. Book page 122 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 5 of 13 In a market-to-market comparison, the UAL bonds only represent 0.41 percent of the District's entire investment within the $388.5 million long-term portfolio. Although the unrealized paper loss on the UAL bonds would only be realized if the securities were actually sold, the overall portfolio including the unrealized loss has generated returns comparable to the Merrill 1-5 Year Government Index as of December 31, 2003, shown on the table below: Performance Since 9/95 5 years 3 years 1 year 9mos. 6mos. 3mos. LT Portfolio 6.52 6.01 6.16 3.22 2.03 0.57 0.23 Benchmark 6.49 6.21 6.70 3.30 2.15 0.48 0.14 Finding #B4 -Negative Rate of Return on Corporate Bonds Investment During our review of the monthly investment statement, unrealized gains at January 31, 2004 are 2.08% of the cost of investment in government and governmental types, but are a negative 4.02% in corporate bonds. Effect: It will reduce District's future investment earnings. Recommendation: The District should consider instituting a policy of no purchases of corporate bonds in view of the above mentioned unrealized losses and the economic climate for business at this time. Staff Response Staff requested Callan & Associates, the District's Investment Compliance and Performance Monitoring Consultant, and to PIMCO, the District's Investment Manager to respond to this comment. According to Callan & Associates, this advice is consistent with "buy high, sell low". In other words, this is not good investment advice if the only consideration is what the two sectors delivered last period. Performance during one month is not a good indication of the future and is not a good basis for an investment policy. PIMCO also believes that it seems highly unusual to make such a recommendation based on one month of data. They believe in a total return approach. They provided the following example to make their point... a 4-year par bond (priced at 100) with a coupon of 5% should deliver the same total return as a 4-year premium bond (priced Book page 123 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 6 of 13 above 100) with a coupon higher than 5%. Assuming all else is the same (issuer, collateral, etc.), an above-market coupon will mandate an above-par price, but that bond will still mature at par (price of 100) so technically you would realize a capital loss (amortization) that would offset the higher-than-market interest rates. Finding #BS-Investments with Maturity Date More Than 10 Years During our review of the monthly investment statement, we noted that bonds with maturity dates extending beyond 10 years from the present amount to more than $64 million. Almost all of the bonds bear interest rates of 5.0% to 6.5%. Effect: If inflation returns and the Federal Reserve raises the interest rates, these bonds would sustain a major decrease in value. Recommendation: The Board should discuss with its investment advisor as to the potential exposure and possible corrective measures. Staff Response Again, staff sought an evaluation of this recommendation from Callan & Associates and PIMCO. Response from Callan & Associates: This auditor's "Effects" statement is true, and it illustrates a major risk. If interest rates go up, the value of a bond goes down. The price change in a bond due to changes in interest rates is called duration. Bonds with higher duration will decline more in value when interest rates increase. Thus, the bonds with maturity of 10 years in your portfolio are "riskier". However, we suggest that the District focuses on the duration of the entire portfolio rather than on individual securities. The policy controls the duration risk. This is a major decision of the Committee --both the target duration and the degree of latitude around that target granted to the manager. Generally, the way in which a Committee communicates this duration target is by naming the benchmark. Second, Callan states that the market pays investors for taking on duration risk. For example, the 10-year bonds have a higher yield. The investment decision is this: "Does the higher yield compensate me for the risk of a change in interest rates?" This is a question that PIMCO has to answer every day. Do the District or Moss, Levy, & Book page 124 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 7 of 13 Hartzheim wish to engage in interest rate forecasts? If so, do they wish to take on PIMCO in this task? Response from PIMCO: We've been speaking for some time about our expectations for higher interest rates and inflation, and those views are encompassed in our secular outlook and filter down to the portfolio through strategy statements. For example, as of 2/29/2004, the Long Term Operating Portfolio held 9.9% of its holdings invested in TIPS [f reasury interest and prinicipal securities-separation of the individual coupon payments and the principal payment of Treasury Bonds and traded as individual zero coupon (non-interest bearing) bonds]. That's a fairly strong statement. Put another way, 0.32 years of duration are coming from TIPS (0.32 years of the account's total duration of 1.96 years --just under 20% of the duration is coming from inflation-protected securities). And many of the longer-dated holdings are mortgage-backed securities which have much shorter durations because of prepayment expectations (i.e., looking just at the maturity date can be misleading). PIMCO added that there is a tradeoff, a risk-return decision to be made, and our portfolio management group certainly takes that into consideration. Our outlook calls for mild inflation and for rates to increase in 2005. We're not expecting rates to spike by 200bps or 300bps, but you could foresee an increase of 1 00bps or 150bps. If you have a short time horizon, you probably are better off moving to a lower duration (and lower yielding) portfolio. If you have a longer time horizon, you are more likely better off positioning the portfolio defensively and withstanding the rate increase --the increased interest income (coupon payments) should more than offset any loss in value due to inflation. C. Computer Access Finding #C1 -Adding a New Vendor During our review on the District's computer system, we noted that purchasing, payroll, accounts receivable, accounts payable, and human resources departments all have access to add or change a vendor's information. Effect: The District could pay an unauthorized vendor or employee. Book page 125 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 8 of 13 Recommendation: Only the purchasing department and the human resource department should be allowed to add or change a vendor's information. Staff Response Staff agrees with the auditors' finding. Staff also believes that the restriction to add or change vendor information should be limited only to one employee within the Purchasing Division, who does not have the capability to create purchase orders since these employees could create fictitious vendors as well as fictitious purchase orders, and one employee within the Accounting Division, who does not have the capability to process or authorize vendor payments. Staff does not believe that Human Resources be allowed to add or change vendors since they initiate payment requests vouchers for payments to be made to first time vendors (i.e., wage garnishments, computer loan program, etc.). Staff is now in the process of 1) identifying the proper Purchasing Division employee and Accounting Division employee to be assigned the responsibility of adding or changing vendor information within the financial information system (FIS), 2) establishing the procedures for other staff members to submit requests to add or change vendor information and, 3) to restrict all other personnel from the electronic FIS vendor address book. Staff will complete the implementation of this finding by May 1, 2004. Finding #C2-Changing Pay Rate During our review on the District's computer system, we noted that besides the human resources department, the payroll department also has access to change the pay rate. Effect: Unauthorized change in pay rate. Recommendation: Only the human resources department is allowed to change the pay rate. Staff Response Staff agrees with the auditors' finding and recommendation. On March 8, 2004, the District went "live" with the new PeopleSoft Enterprise One Human Resources and Payroll Module of the District's Enterprise Resource Planning System (ERP or FIS system). With this new payroll software upgrade, the Payroll Section within the Finance Department's Accounting Division no longer has the capability to change pay rates. Book page 126 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 9 of 13 D. Accounts Receivable Finding #D1 -Uncollected Receivable During our review of the District's accounts receivable aging report, we noted that there are large amounts of long past due receivable (both governmental and non- governmental customers). Also, some accounts with outstanding balances more than 6 months old are still being given credit from the District. Effect: Possible overstatement of its revenue. Recommendation: The District should set up a credit approval system and collect a deposit before providing service. Also, the District should set a maximum number of past due days before a customer loses credit availability and is forced to pay or face a lien being placed on its property. Staff Response Staff is in agreement with the auditors' finding. As of April 2, 2004, the District had $3.4 million in receivables aged more than six months, as follows: Owed from Other Governments $2,654,603.12 Deferred Payment Agreements in Place Currently Working with Customer on Payment Out of Business, Lien on Property Out of Business, Searching for Company Company in Bankruptcy 584,607.22 81,179.50 58,255.38 13,435.36 5,944.78 Total $3.398.025.36 The largest amount outstanding obligation over six months is the $2,543,956.26 owed from the Santa Ana Watershed Protection Agency. As the Director's know, a mediation term sheet is currently being finalized by General Counsel and the General Manager to secure this debt. Attached to this document are the Finance Department's procedures for collections on overdue accounts. These procedures have collection efforts beginning when accounts become 45 days delinquent, then 60 days delinquent, and then 76 days delinquent. After 76 days delinquent, District staff will pursue collections in small claims court when amounts owed are under $5,000, or turn the accounts over to legal counsel when Book page 127 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 10 of 13 greater than $5,000. Legal counsel makes the determination as to when it is appropriate and feasible to negotiate liens against the property of debtors. Finally, although staff recognizes that there are some long-term outstanding obligations owed the District that need continued pursuit, no actual debt has been written off as uncollectible in more than five years. E. Inventory Control Finding #E1 -Adjustment Without Proper Authorization During our review of the District's inventory control system, we noted that no formal written documentation was used to account for inventory adjustments. Potential adjustments during the daily counts were approved verbally by the warehouse supervisor. Effect: Possible misappropriation of District's assets. Recommendation: Any adjustment should be approved by authorized personnel with written documentation. Staff Response Staff agrees with the auditors' finding and recommendation. Currently, there are two processes for adjusting inventory. One process applies when an adjustment to inventory is discovered during the normal course of business. This correction requires written approval from the Contracts/Purchasing Manager. The other process for adjusting inventory occurs during daily, routine cycle counts. Warehouse staff is provided with daily cycle count sheets to verify inventory. When there is a discrepancy noted on the cycle count sheet, the Warehouse Supervisor physically verifies the discrepancy and, if necessary, verbally authorizes the Inventory Control Technician to make an adjustment within the FIS system. A report listing the revised cycle count is generated and filed with that day's cycle count variance sheet. In the future, the Warehouse Supervisor will provide signature authorization on the cycle count sheets when inventory adjustments are required and sign off on the adjusted inventory cycle report. Staff is very proactive in ensuring controls and safeguards over inventory. The U.S. Government requires contractors and subcontractors to establish and maintain Book page 128 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 11 of 13 adequate levels of inventory accuracy and affirms that 95% inventory record accuracy is desirable. Following are the cycle count results of the Purchasing and Warehouse Division of the Finance Department over the first nine months of the year: Sept. Oct. Nov. Dec. Jan. Feb. Mar. 99.26% 99.06% 99.00% 98.09% 98.45% 98.44% 98.19% Finding #E2 -Change of Inventory Record During our review of the District's inventory control system, we noted that almost every employee in the warehouse with computer access could change the inventory records. Effect: Possible misappropriation of District's assets. Recommendation: Only one person in the warehouse should have access to the inventory record. Staff Response Although staff acknowledges the concern, staff does not agree with the recommendation. Staff believes that the cost of implementing this recommendation would be greater than the benefit derived. The District employs hundreds of maintenance and field staff members who are dependent on the Warehouse to provide the parts, supplies, tools, and equipment needed to perform their jobs on a daily basis. If we limited the issuance of these items to one person, we would literally paralyze the day to day operations of this facility. Many of the items requisitioned from the warehouse have a value of less than $5.00. The control in place is in the FIS system itself. The system will not allow a warehouse employee to remove an item from inventory without indicating the recipient of the goods and what division is to be charged the expense of the inventory item, or the completion of an inventory requisition. The FIS tracks which warehouse employee issues every item from the warehouse, to which employee the items were issued, and the specific department/division charged for these items. The system then follow this up by issuing weekly reports to the Supervisors indicating what inventory items have been charged to their divisions and which of their employees requisitioned the items from the warehouse. Book page 129 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 12 of 13 Finding #E3 -Vehicle Parts During our review of the District's inventory control system, we noted that when employees from the fleet department require a part to fix a vehicle, no license plate number is required. Effect: Possible misappropriation of District's assets. Recommendation: The District should revise its computer system to allow personnel in the inventory department to input a license plate number before releasing any parts. Staff Response When Fleet Services request items from the warehouse, they primarily use a computerized maintenance management system (CMMS) work order number for a specific job on a specific vehicle. However, the possibility exists that they could request items using a "consumable number". When researching this, the District's Warehouse Supervisor went back over several months of inventory requisitions for vehicle parts and found no instance where vehicle parts were issued with a "consumable work order number". Nonetheless, Staff will be meeting with the FIS consultants to determine whether work order numbers for vehicle parts requested on inventory requisitions can be limited to non-consumable, or vehicle identification numbers. Finding #E4 -Releasing Inventory During our review of the District's inventory control system, we noted that employees retrieve warehouse items prior to supervisor approval. Effect: Possible misappropriation of District's assets. Recommendation: Warehouse should not release any inventory item without proper approval by the supervisor. Book page 130 Response to Contracted Internal Auditors Report of March 3, 2004 April 14, 2004 Page 13 of 13 Staff Response Staff recognizes the auditors' concern but does not believe this is a cost effective recommendation. The District employees hundreds of maintenance and field staff members who are dependent on the Warehouse to provide the parts, supplies, tools, and equipment needed to perform their jobs on a daily basis. If we were to require that the supervisory must be located and available and that approval must be obtained prior to the issuance of these items, we would literally paralyze the day to day operations of this facility. Many of the items requisitioned from the warehouse have a value of less than $5.00. The control in place is the computerized warehouse issues report generated from the FIS system and distributed to the Supervisors on a monthly basis. This report indicates what inventory items have been charged to their divisions and which of their employees requisitioned the items from the warehouse. We know these reports are being used by the Supervisors because Accounting staff often receives requests from supervisors questioning where certain parts were charged (for instance, it was charged to their operating and maintenance division when it should have been charged to the capital project that a particular person was working on). H:\dept\fin\220\white\Auditing Svcs\lnternal Auditing Services\Response to IA Report of 3-3-04.doc Book page 131 Procedures for Collection of Overdue Fees 1. Invoices are sent out by the Revenue Division that provide a customer with 45 days within which to make a payment. The invoices include, in bold print, a warning alerting the customer that the District will impose a 10% penalty on the entire invoice amount if payment is not made within 45 days. 2. On the first day of delinquency, the 46th day following the date of the invoice, the Revenue Division will send a late notice to the customer demanding payment be made within 10 days. A separate invoice for the 10% penalty imposed on the 46th day will accompany this late notice. Delinquent notices are processed on the second and the sixteenth of each month. 3. Between day 46 and day 76, the Revenue Division will contact the customer by telephone, providing direct notification of the delinquency and requesting immediate payment. A written log will be kept of the contacts with the customer. 4. On the 60th day following the date of the original invoice, the Revenue Division will mail a second late notice to the customer. This notice will indicate the original invoice amount and the 10% penalty imposed on the 46th day and will inform the customer that if payment is not received, the matter will be referred to the Districts' legal counsel for appropriate action. 5. If payment is not made by day 76, the Revenue Division will make a determination whether to pursue collection proceedings through small claims court or to refer the matter to legal counsel for collection and/or permit revocation. Factors to be examined in making this determination will include the customer's payment history, the amount owed and the level of cooperation exhibited by the customer. If the small claims court option is selected, the Revenue Division will initiate the court proceedings no later than day 96. In general, accounts that are 75 days past due and under $5,000.00 are taken to small claims court and over $5,000.00 are turned over to legal counsel. Book page 132 6. If the Revenue Division refers the matter to legal counsel, all invoices and notices previously sent to the customer along with a cover letter outlining all contacts with the customer regarding payment will be forwarded to counsel. Legal counsel will then send a certified letter to the delinquent party providing 10 days within which to make payment in full and warning that failure to do so will result in further legal action. The customer will be directed to contact the Revenue Division to make payment. The Revenue Division, and Source Control Division (if necessary), will be copied on the letter. 7. If the customer is a discharger, then ten days following the date of the "76 Day" letter, the Revenue Division will establish if payment has been received. If not, a staff report will immediately be prepared for permit revocation. The staff report and supporting documentation will be forwarded to the Source Control Manager. Thereafter, the Source Control Division will prepare a written notice of a permit revocation hearing, for signature by the General Manager. This notice will set a permit revocation hearing date not less than 15 calendar days and not more than 45 calendar days after the mailing date of such notice. The notice of hearing will be mailed by certified mail to the discharger. 8. If payment in full has not been received by the date of the permit revocation hearing, the Revenue Division will present to the hearing officer, designated by the General Manager, the Districts' case justifying the permit revocation for failure to pay fees due. Permit revocation proceedings under the Districts' Wastewater Regulations are governed by Section 605. 9. As authorized in Resolution 91-136, the Districts may continue to enter into deferred payment schedules without approval of the Board of Directors for delinquent amounts up to $10,000.00,for maximum term not exceeding 6 months, with interest imposed at the rate of prime plus 2-1/2%. Book page 133 FAHR COMMITTEE · Meeting Date To Bd. of Dir. 04/14/04 04/28/04 AGENDA REPORT Item Number Item Number FAHR04-34 Orange County Sanitation District FROM: Blake P. Anderson, General Manager SUBJECT: NON-BASE BUILDING PAYMENT GENERAL MANAGER'S RECOMMENDATION Approve a one time only non-base building payment for the Secretary to the General Manager in an amount not to exceed $1,200. SUMMARY The Secretary to the Board of Directors began a leave of absence on February 23, 2004. The leave of absence is expected to end on April 19, 2004 for a total of eight work weeks or 320 hours. During this time period, the Secretary to the General Manager has assumed many of the critical duties of the Secretary to the Board of Directors. These duties include; overseeing the compilation and mailing of board agendas, taking board meeting minutes and giving work direction to the Administrative Services Division. Employees who are assigned by District management to perform the duties of an open, budgeted position at a higher level are eligible for a one step increase per Human Resources Policy C190.00. Since the Secretary to the Board of Directors position is not an open position, any employee assuming her duties would not be eligible for acting pay. As a confidential employee, the Secretary to the General Manager will be eligible for a step increase based on "average" performance for FY03/04. Awarding the incumbent a one time only non-base building payment will reward the employee for assuming the additional duties of the higher level classification. PRIOR COMMITTEE/BOARD ACTIONS N/A PROJECT/CONTRACT COST SUMMARY Applying the one step acting pay increase concept to this particular case results in a $1.50 per hour difference between the incumbent's current rate of pay and a one step increase. The actual non-base building payment will be based on this $1.50 differential and the actual number of hours that the employee assumes the higher level duties. H:ldept\fin\210\CRANEIFAHRIFAHR2004\APRIL\AgendaReport_Non base buildling bonus.doc Revised: 06/04/03 Book page 134 Page 1 The anticipated hours are 320 but depending on the actual return to work date, this amount could increase to 800 hours (February 23rd through the end of FY03/04) resulting in the maximum non-base building payment of $1,200.- BUDGET IMPACT [8] This item has been budgeted. D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. D Not applicable (information item) ADDITIONAL INFORMATION N/A ALTERNATIVES Do not approve the recommended non-base building payment. CEQA FINDINGS N/A ATTACHMENTS N/A H:ldeptlfin\210\CRANEIFAHRIFAHR2004\APRIL\AgendaReport_Non base buildling bonus.doc Revised: 06/04/03 Book page 135 Page 2 FAHR COMMITTEE Meeting Date To Bd. of Dir. 04/14/04 - AGENDA REPORT Item Number Item Number FAHR04-35 Orange County Sanitation District FROM: Gary Streed, Director of Finance and Treasurer SUBJECT: 2004-05 PRELIMINARY BUDGETS GENERAL MANAGER'S RECOMMENDATION Direct staff to present the preliminary proposed budgets to the Standing Committees in May for their review prior to consideration by the FAHR Committee for recommendation to the Board of Directors for adoption in June. SUMMARY The Directors have seen and heard several staff presentations over the past few months regarding the Validated Capital Improvement Program, the long-term financing program, the status of the discharge permit renewal, the changes in the short and long-term biosolids program and preliminary cash flow and user fee projections for several years. All those things come together each year during the budget process. The FAHR Committee is the committee of jurisdiction for the budget, but the OMTS and PDC Committees have major input to the operations and significant initiatives of the District. For these reasons and for the sake of general courtesy, staff has presented the preliminary budgets to each of the Standing Committees prior to asking the FAHR Committee for a final recommendation in the past several years. There are several attachments to this agenda report that summarize the budgetary recommendations and will provide an overview of the big picture. Staff will review the schedules at the meeting. PRIOR COMMITTEE/BOARD ACTIONS Preliminary information has been shared at previous FAHR Committee meetings, Board meetings and Board workshops, but no actions have been requested or taken. PROJECT/CONTRACT COST SUMMARY A total budget increase from 2003-04 of $42,865,000 or approximately 13% is projected. This majority of this increase is from the capital improvement program, but increases are also projected for operations, maintenance, debt service and self-insurance. A schedule of changes is attached. H:ldeptlfinl210\CRANE\FAHRIFAHR2004\APRIL\AgendaReport_prelim budgets 4-04.doc Revised: 06/04103 Book page 136 Page 1 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. !Zl. Not applicable (information item) This is the budget for next fiscal year ADDITIONAL INFORMATION There are four schedules attached that summarize the proposed budgets. The first, Prelimina~ 2004-05 Budget Comparison, shows each of the budgets that are adopted annually and the changes in total funding requirernents from the prior year. Additional information about the Capital and J0int Operating bwdgets is shown in otfler attachments. Secondly, Preliminary Joint Operating Budget shows the costs to operate and to maintain the treatment plants and the disposal and reuse facilities and processes. Column C includes the proposed JO budget as of this mailing date. Row 17 shows the total outlay, and the cl<lariges from 2003-04. This line includes all costs, including all labor and benefits, before charg'es to the capital improvement program and to the collection system. The charge outs shown on line 18 are costs in those programs and budgets. Line 19 includes the numbers shown in the budget comparison above. The Validated Capital Improvement Program schedule is an abbreviation of what will be included in the budget document. Tfle PDC Committee is pri.marily responsible for the program and reviews every project several times. This schedule includes the total project cost, the cost incurred prior to 2003-04, the current year estimated progress and the estimated progress or cash requiremen~s for 2004-05. While many of these projects will continue for several years, those future cash requirements are not shown 0n this $Chedule in order to simplify the presentation Finally the Summary Cash Flow Projections that you see regularly have been updated and included as the final attachment. The requirements that are in the previous attachments are shown on lines 9 through 14. This high-level summary document shows the financial expectations for the next several years and is useful to make long-term assessments and plans. Line 19 shows the preliminary annual user fee projections for a single family residence. ALTERNATIVES Direct staff to make changes in the preliminary proposals. CEQA FINDINGS N/A ATTACHMENTS 1. Preliminary 2004--05 Budget Comparison 2. Preliminary Joint Operating Budget 3. Validated Capital Improvement Program, Updated 4. Summary Cash Flow Projections H:\depllfin\210\CRANEIFAHRIFAHR2004\APRIL\AgendaReport_prelim budgets 4-04.doc Revised: 06/04/03 Book page 137 Page 2 4/5/2004 Preliminary 2004-05 Budget Comparison 2003-04 2004-05 Adopted Preliminary Dollar Percent Budget Budget Increase Increase Capital Improvement Program 199,953,000 228,561,000 28,608,000 14.3% Collection System O&M 12,500,000 15,000,000 2,500,000 20.0% Joint Operating & Maintenance 80,509,000 86,499,000 5,990,000 7.4% Self Insurance Program 2,951,000 3,751,000 800,000 27.1% Certificates of Participation P&I 36,950,000 41,917,000 4,967,000 13.4% Total Cash Flow Budget 332,863,000 375,728,000 42,865,000 12.9% H:\dept\fin\21 0\STREED\Excel\2004-05 Budget\change summary.xis Book page 138 Book page 139 t,;1 0 0 :,;' "Cj "" ~ ..... "'" 0 4/5/2004 Ref Cost Cate~ 1 Salaries &Wages 2 Employee Benefits 3 Subtotal Salaries & Benefits 4 Administrative Expense 5 Training & Meetings 6 Chemicals 7 Operating Supplies 8 Solids Removal & Reuse 9 Professional Services 10 Contractual Services 11 Research & Monitoring 12 Repairs & Maintenance 13 Utilities 14 Other 15 Reapprop & Contingency 16 Sub: Matl, Supplies & Services 17 Tota4 Salaries & Materials 18 Charges to CIP & Coll System 19 Joint Operating Expense 20 Revenues 21 Net Joint Operating Expense Preliminary Joint Operating Budget 2004-05 Budget Discussions April 3, 2004 A B C C-A Adjusted Projected Preliminary Change Budget Actual Budget From 2003-04 2003-04 2004-05 Budget 42,630,000 45,448,000 49,889,000 7,259,000 12,519,000 12,465,000 13,936,000 1,417,000 55,149,00IQ 57,913,000 63,825,000 8,676,000 2,774,000 2,364,800 1,878,800 (895,200) 1,209,000 905,300 875,500 (333,500) 13,931,000 11,932,000 12,265,700 (1,665,300) 1,738,000 1,644,000 1,546,600 (191,400) 9,600,00,0 9,581,000 9,686,000 86,000 2,740,000 2,071,500 2,951,500 211,500 3,156,000 2,826,000 2,812,100 (343,900) 1,643,000 1,564,000 1,219,000 (424,000) 6,680,000 7,251,000 6,947,700 267,700 4,6·68,000 5,124,000 5,476,900 808,900 265,000 298,600 225,600 (39,400) 400,000 400,000 48,404,000 45,562,200 46,285,400 (2, 118,600) 103,553,000 103,475,200 110,110,400 6,557,400 (23,044,000) (20,270,300) {23,611,700) (567,700) 80,509,000 83,204,900 86,498,700 5,989,700 (3,500,000) (2,890,000) (3,000,000) 500,000 77,009,000 80,314,900 83,498,700 6,489,700 H:\dept\fin\210\STREED\Excel\2004-05 Budget\FAHR JO 4-04.xls C-B {C-A) I A {C-B) / B Change Change Change From From From Projected Budget Projected 4,441,000 17.03% 9.77% 1,471 ,000 11 .32% 11.80% 5,912,000 28.35% 21.57% (486,000) (32.27%) (20.55%) (29,800) (27.58%) (3.29%) 333,700 (11.95%) 2.80% (97,400) (11.01%) (5.92%) 105,000 0.90% 1.10% 880,000 7.72% 42.48% (13,900) (10.90%) (0.49%) (345,000) (25.81%) (22.06%) (303,300) 4.01% (4.18%) 352,900 17.33% 6.89% (73,000) (14.87%) (24.45%) 400,000 723,200 (4.38%) 1.59% 6,635,200 6.33% 6.41% (3,341,400) 2.46% 16.48% 3,293,800 7.44% 3.96% (110,000) (14.29%) 3.81% 3,183,800 8.43% 3.96% 2:06 PM Book page 141 4/3/2004 Validated Capital Improvement Program Updated for 2004-05 Project Title Total Project Cost Cost to 7 /1 /03 02-41 Santa Ana River Interceptor Realignment and Prat. 9,583,000 2,107,000 02-31 Santa Ana River Interceptor Relief Sewer 17,272,000 277,000 02-50 Atwood Subtrunk Improvements 3,187,000 110,000 06-13-1 Abandonment of Airbase Trunk Sewers & College Ave 1,768,000 296,000 02-58 Santa Ana River Relief Sewer, Reach B 32,702,000 02-42 Aband. of Yorba Linda Pump Station 955,000 02-49 Taft Branch Improvements 3,508,000 10,000 02-51 Lower Santa Ana River Interceptor Improvements 35,012,000 05-47 Balboa Trunk Sewer Rehabilitation 5,759,000 05-46 Replacement of Back Bay Trunk Sewer 7,189,000 7,189,000 11-22 Warner Avenue Relief Sewer 7,480,000 646,000 02-24-1 Carbon Cnyn Sewer and Pump Stn. Abandonment 3,970,000 469,000 02-52 Euclid Relief Improvements -Reach "A" 20,856,000 14,000 02-53 Euclid Relief Improvements -Reach "B" 10,319,000 03-45 Trask Branch of the Hoover-Western Subtrunk 1,410,000 11-26 Coast Trunk Sewer Rehabilitation 16,635,000 11-25 Edinger/Balsa Chica Trunk Improvements 2,126,000 01-22 Lower Main-Broadway MH Rehabilitation 1,467,000 1-2-4 Bushard Trunk Sewer Rehabilitation 40,794,000 7,831 ,000 01-98 Trunk Sewer Mapping Project 2,193,000 1,111,000 01-17 Santa Ana Trunk Sewer Rehab. 14,638,000 403,000 07-21 Sunflower Interceptor Manhole Rehab. 3,782,000 569,000 1-10 Replacement of the Ellis Ave. Pump Stn 34,337,000 817,000 05-49 Replacement of the Bitter Point Pump Station 8,159,000 347,000 07-47 Replacement of the College Ave. Pump Station 6,021,000 01-96 Continuous Feed Chemical Treatment Facility 861,000 05-50 Replacement of the Rocky Point Pump Station 9,511 ,000 195,000 05-51 Rehabilitation of the 14th Street Pump Station 4,692,000 819,000 05-52 Rehabilitation of the "A" Street Pump Station 5,063,000 1,244,000 03-52 Rehabilitation of the Westside Pump Station 2,991,000 206,000 05-53 Rehabilitation of the Bay Bridge Pump Station 2,612,000 149,000 05-54 Rehabilitation of the Crystal Cove Pump Station 549,000 157,000 Oi-49 Rehabilitation oi the MacArthur Pump Station 2,43-7,000 07-37 Gisler-Redhill System Improvements, Reach B 6,893,000 213,000 -- 07-14-04 Covey Lane Pump Station Abandonment 170,000 93,000 FE-Collect Facilities Engineering Projects -Collections 5,400,000 07-7-2 Modifications to the Main Street Pump Station 994,000 126,000 02-41-01 Abandonment of the existing SARI in SA River 8,456,000 11-14-R Newland Street Interceptor Sewer Protection 127,000 15,000 05-29-R1 Lining of 36" NPTB FM (June. Box to 2nd Angle Pt.) 1,996,000 1,440,000 03-35-R2 Rehabilitation of Magnolia Trunk Sewer 48,868,000 7,896,000 06-13-3 Abandonment of Airbase Trunk Sewer -California St 1,125,000 7,000 07-32-1 Gisler Red Hill Trunk Sewer Relocation -Phase 1 936,000 01-100 Greenville Sullivan/Raitt Street Manhole Rehab. 3,269,000 02-65 Newhope-Placentia & Cypress Trunk Replacements 28,785,000 02-66 Upper & Lower Newhope-Placentia MH Rehabilitation 4,351 ,000 02-67 SARI and South Anaheim Interceptor MH Rehab. 3,087,000 03-55 Westside Relief Interceptor/ Los Alamitos MH Rehab 17,136,000 03-56 Rehabilitation of the Seal Beach and Edinger PS 8,574,000 07-59 Upper Gisler-Redhill MH Rehabilitation & Campus Dr 2,121,000 06-16 Abandonment of Airbase Trunk (Watson St) & College 07-23-1 College Ave. Pump Station Parallel Force Main 1,734,000 896,000 07-57 Lower Gisler-Redhill Trunk Relocation and MH Rehab 6,615,000 0 H:\deptlfin\210\STREED\Excel\2004-05 Budget\FAHR CIP summary t~'bR5page 142 Page 1 of 5 2003-04 2004-05 238,000 538,000 934,000 5,175,000 1,411,000 173,000 55,000 162,000 160,000 14,218,000 16,045,000 1,082,000 0 996,000 114,000 371,000 826,000 3,296,000 287,000 1,340,000 158,000 337.000 114,000 287.000 199,000 3,315,000 371,000 2,908,000 438,000 2,867,000 86,000 107,000 17,000 355,000 129,000 263,000 171,000 101,000 266,000 489,000 77.000 588,000 306,000 868,000 112,000 - 556,000 112,000 896,000 49,000 192,000 188,000 838,000 4/3/2004 Validated Capital Improvement Program Updated for 2004-05 Project Title Total Project Cost Cost to 7/1/03 07-58 Gisler Redhill Trunk lmprov. & Orange Trunk lmprov 07-36 Gisler-Redhill Trunk Improvements, Reach "A" 7,066,000 785,000 07-39 Orange Trunk Improvements 5,298,000 613,000 07-41 Gisler-Redhill/North Trunk Improvements 15,359,000 1,409,000 05-59 Big Canyon Trunk Sewer Rehab & Replacement 05-43-01 Big Canyon Trunk Sewer Rehabilitation 1,973,000 221,000 05-43-02 Big Canyon Trunk Sewer Replacement 922,000 186,000 07-56 Tustin West/Lemon Heights Trunk Improvements 07-38 Tustin Trunk Improvements 5,004,000 80,000 07-40 West Trunk Improvements 452,000 32,000 07-22-1 Lemon Heights Subtrunk Street Rehabilitation 1,043,000 5,000 02-68 Rehabilitate District Siphons By Adding Air Jumper 5,731,000 05-58 PCH FM Bitter Pt Ps To Coast Trunk@ B hurst & PCH 20,935,000 35,000 SP-95 Pump Station P&IDs and Equipment Tagging 720,000 Collections Facilities Total 534,978,000 39,018,000 P1-62 Sunflower Drive Replacement 655,000 728,000 P1-71 Headworks Rehabilitation/Refurbishment 20,758,000 73,000 P2-66 Headworks Improvements at Plant No. 2 229,241,000 7,716,000 J-83 PLC Programming and Integration 209,000 89,000 Headworks Total 251,063,000 8,606,000 P1-37 Pri. Clarifiers 16-31 & Related Facilities 88,561,000 40,683,000 P2-80 Primary Treatment Rehab/Refurb 55,093,000 93,000 SP-70 Sludge Density Meter Upgrades 800,000 20,000 P2-B5 Circular Clarifier Drive Replacement/Upgrade 3,467,000 295,000 Primary Treatment Total 147,921,000 41,091,000 P2-74 Rehabilitation of Activated Sludge Plant at Plant2 20,474,000 125,000 p2-47-3 Sec Treat. Monitoring & Cntrl Sys. Upgrade 8,704,000 787,000 P1-76 Trickling Filter Rehabilitation and New Clarifiers 46,210,000 4,166,000 P1-82 Activated Sludge Plant Rehabilitation 44,569,000 14,000 SP-72 Oxygen Plant Replacement/Rehabilitation Assessment 367,000 105,000 SP-72-1 Oxygen Plant Rehabilitation 2,300,000 0 SP-74 Activated Sludge Aeration Basin Selector Study 775,000 157.000 SP-91 Computer Modeling of Activated Sludge System 110,000 P1-102 New secondary treatment system at Plant No. 1 242,543,000 P2-90 Trickling Filters at Plant No. 2 138,487,000 Secondary Treatment Total 504,539,000 5,354,000 SP-36 Sludge Grinder Replacement 224,000 204,000 P2-60 Solids Storage and Truck Loading Facility 14,950,000 13,505,000 SP-30-2 High Rate Digester Mix Pumps Mech. Seals 517,000 460,000 SP-79 Tule Ranch Maintenance/Biosolids Management Needs 221,000 P1-99 Digesters, Centrifuge/Press & Cake Storage Hopper 0 0 P2-89 Rehabilitation of Solids Storage Silos A & B at P2 9,100,000 0 P2-92 Sludge Dewatering and Odor control at Plant 2 38,922,000 P2-91 Digester Rehabilitation at Plant 2 25,621,000 5,000 P1-100 Sludge Digester Rehabilitation at Plant 1 31,928,000 1,000 P1-101 Sludge Dewatering and Odor control at Plant 1 109,518,000 35,000 P1-96 Ammonia Side Stream Treatment 258,000 58,000 Solids Handling & Digestion Total 231,259,000 14,268,000 H:\deptlfin\210\STREED\Excel\2004-05 Budget\FAHR CIP summary ~page 143 Page 2 of 5 2003-04 2004-05 174,000 4,826,000 123,000 3,634,000 325,000 4,766,000 1,515,000 736,000 517,000 9,000 50,000 9,000 74,000 119,000 193,000 531,000 1,168,000 180,000 28,176,000 55,954,000 127,000 0 108,000 10,349,000 1,852,000 0 120,000 10,476,000 2,080,000 25,785,000 13,339,000 448,000 3,504,000 0 390,000 3,172,000 0 29,405,000 17,233,000 853,000 2,318,000 2,233,000 4,555,000 10,796,000 18,215,000 2,247,000 2,840,000 42,000 220,000 523,000 95,000 3,000 56,000 2,187,000 8,751,000 865,000 2,387,000 19,749,000 39,437,000 20,000 963,000 482,000 43,000 121,000 100,000 0 0 68,000 106,000 0 163,000 445,000 269,000 831,000 555,000 1,481,000 200,000 0 2,359,000 3,488,000 4/3/2004 Validated Capital Improvement Program Updated for 2004-05 Project Title Total Project Cost Cost to 7/1/03 J-77 Effluent Pumping Station Annex 61,338,000 4,113,000 J-67 Peak Flow Management 3,393,000 1,064;000 SP-BB NPDES Permit Renewal 214,000 0 J-87 Short Term Outfall Bacteria Reduction 8,067,000 1,262,000 Ocean Outfall Systems Total 73,012,000 6,439,000 J-47 Cable Tray Improvements at Plants 1 & 2 29,526,000 1,111,000 P2-79 Gas Compressor Addition at Plant No. 2 4,326,000 160,000 J-25-5 Elec. Power System Single-line Diagrams 3,368,000 J-33-1A Standby Power and Reliability Modifications 17,643,000 12,598,000 P2-82 Utilities Rehabilitation and Refurbishment 5,175,000 831,000 J-79 Central Generation Automation 1 5,440,000 780,000 SP-81 Electrical Equipment Refurbishment and Protection 3,091,000 49,000 SP-93 Indoor/Outdoor Lighting Study 132,000 5,000 P1-97 Plant 1 66kV Substation 4,486,000 0 SP-92 Rehabilitation of Low Pressure Gas Holder 422,000 P2-87 Fuel Station Replacement at Plant No. 2 46,000 46,000 SP-94 Plant 1 Plant Water VFD Replacement 2,224,000 37,000 J-35-1 Area Classification Study Implementation Plan 25,283,000 10,021,000 Utility Systems Total 101,162,000 25,638,000 J-71-3 Facilities Modifications for Odor Control 3,645,000 624,000 J-71-8 Rehabilitation of Odor Control Facilities 33,224,000 18,000 Odor Control Related Projects Total 36,869,000 642,000 J-42 Plant Reinvention / Automation Project 17,915,000 14,227,000 SP-01 Document Management 864,000 545,000 SP-02 Data Integration 4,334,000 2,940,000 SP-13 Source Control Programming 2,956,000 1,156,000 SP-03 Strategic Information Architecture (SIA) 724,000 440,000 SP-15 Geographic Information System 4,157,000 53,000 J-33-3 Power Monitoring and Control Systems 3,478,000 24,000 SP-09 lntemeUlntranet Development 650,000 318,000 SP-61 SCADA System Replacement Study 300,000 SP-62 SCADA Graphics Tagging Update 425,000 56,000 SP-64 FIS Upgrade 3,223,000 1,663,000 SP-65 Information Technology Disaster Recovery 332,000 28,000 SP-89 Network Equipment upgrade 2,901,000 1,099,000 SP-100 CMMS System Replacement 3,789,000 Plant Automation & Computerization Total 46,048,000 22,549,000 SP-53 Plant O&M Manual & SOP Project -Phase I 4,000,000 250,000 SP-54 Hazardous Energy Control Procedures 1,190,000 600,000 J-44-R Standard Specifications Revisions and Updates 657,000 486,000 SP-68-1 Corrosion Management 7,548,000 115,000 SP-90-8 Special Projects: Ammonia Reduction Options 277,000 SP-90-1 Special Projects: Anoxic Gas Flotation (AGF) 798,000 590,000 SP-90-7 Special Projects: Biotrickling Filter (BTF) 770,000 280,000 SP-90-2 Special Projects: Anaerobic Baffled Reactor (ABR) 195,000 95,000 SP-90-6 Special Projects: Dewatering Options Comparison 99,000 SP-90-5 Special Projects: Microfiltration/Primary Effluent 4,095,000 3,500,000 SP-90-4 Special Projects: Oxygen Ionization I Odor Control 210,000 SP-90-3 Special Projects: Primary Effluent Filtration 470,000 360,000 J-94 Effluent Pathogen Reduction Alternatives Plan 1,549,000 619,000 Process Related Special Projects Total 21,858,000 6,895,000 H:\dept\fin\21 0\STREED\Excel\2004-05 Budget\FAHR CIP summary~~ page 144 Page 3 of 5 2003-04 2004-05 2,692,000 17,264,000 608,000 1,501,000 114,000 100,000 6,753,000 52,000 10,167,000 18,917,000 o 263,000 o 453,000 3,368,000 0 2,735,000 2,035,000 399,000 3,636,000 446,000 1,447,000 257,000 2,436,000 12,000 115,000 0 231,000 422,000 0 0 51,000 1,056,000 10,245,000 4,264,000 17,935,000 15,936,000 1,751,000 1,270,000 1,711,000 2,925,000 3,462,000 4,195,000 0 994,000 41,000 68,000 33,000 156,000 554,000 404,000 1,000 25,000 423,000 976,000 18,000 411,000 142,000 300,000 369,000 567,000 440,000 304,000 1,802,000 176,000 4,412,000 3,792,000 217,000 70,000 250,000 220,000 0 17,000 180,000 130,000 277,000 o 208,000 210,000 280,000 0 100,000 99,000 595,000 210,000 110,000 930,000 3,078,000 1,025,000 4/3/2004 Validated Capital Improvement Program Updated for 2004-05 Project Title Total Project Cost Cost to 7/1/03 J-62 Modifications to Existing Mech. Systems 3,007,000 272,000 FE-J Facilities Engineering Projects -Joint 18,200,000 FE-P2 Facilities Engineering Projects -Plant 2 18,200,000 FE-P1 Facilities Engineering Projects -Plant 1 18,200,000 J-69 Building Rehabilitation/Refurbishment 1,455,000 0 SP-34 Small Cap. Equip. Replacement Project 3,000,000 1,500,000 SP-06 Security System Improvements 1,100,000 531 ,000 SP-68-2 Asset Management Program 16,555,000 SP-77 Warehouse Reinvention Project 600,000 14,000 J-25-6 Interim Fae Record & Eng Data Syst Maint Services 628,000 394,000 SP-85 Plume Modeling 377,000 249,000 J-40-5 Supplement No. 1 to the 1999 Strategic Plan EIR 832,000 265,000 J-40-7 Long Range Biosolids Management Plan 1,833,000 164,000 J-40-9 Strategic Plan Update 0 0 J-84 Space Allocation and Interior Renovation 17,888,000 836,000 J-88 Laboratory Rehabilitation 1,830,000 20,000 J-89 Tenant Improvements to Rebuild Shop 321,000 1,000 J-40-10 Supplemental Full Secondary Treatment CEQA Doc. 475,000 J-90 Engineering Trailer Complex 2,006,000 1,840,000 P1-103 Support Building Power System Modifications 5,000 5,000 SP-98 Plant 2 Maintenance Building Modifications 340,000 Miscellaneous & Support Projects Total 106,852,000 6,091,000 J-36 Groundwater Replenishment System 236,206,000 21,908,000 J-72 Water Conservation 3,900,000 2,894,000 J-73 Co-op Projects, lnflow/lnfilt. Reduction 0 J-73-2 Long Term Permanent Monitoring Program 7,074,000 4,222,000 Water Management Projects Total 247,180,000 29,024,000 Districts Capital Equipment Budget 65,208,000 3,000,000 Districts Capital Equipment Budget 65,208,000 3,000,000 Validated CIP Projects Total 2,367,949,000 208,615,000 Updates to Validated CIP J-79-1 Central Generation Automation 2 2,597,000 0 J-96 Fire Supression for Servers and Equip at P1 & P2 686,000 23,000 P1-104 Regional FOG Control Collection at Plant No. 1 2,666,000 SP-106 Biological Scrubbers Source Water Control Study 150,000 SP-105 Orange County Biosolids Production Stting Study 250,000 SP-102 Digester Gas Siloxane Removal Study 100,000 SP-108 Brine Management Study 200,000 SP-101 Diesel Exhaust Emissions Control Options Study 250,000 N16 Permanent Odor Control Facilities 3,848,000 SP-107 Digester Gas Venting Study 100,000 N20 North County Collections Support Facility Study 50,000 N24 Newport Force Main Condition Assessment 600,000 N25 Miller-Holder Trunk Condition Assessment 250.000 J-107 lnterplant Gas Line Rehabilitation 2,887,000 P1-107 Demolition of the Fuel Station at Plant No. 1 350,000 J-97 Laboratory Refurbishment at Plant No. 1 6,261 ,000 J-99 OOBS Rehabilitation Assessment Study 200,000 SP-104 Environmental Compliance Awareness Program 330,000 P1-106 Truck Wash and Dewatering Beds at Plant No_ 1 2,131,000 N32 OCTA Sewer Relocation Projects 300,000 N35 Green River Meter Station 704,000 N36 Newhope-Placentia Trunk Diversion 2,746,000 05-54-1 Crystal Cove Pump Station Interior Rehabilitation 963,000 H:\dept\fin\210\STREED\Excel\2004-05 Budget\FAHR GIP summary tM~page 145 Page4 of 5 2003-04 2004-05 0 490,000 1,132,000 696,000 1,118,000 642,000 1,122,000 500,000 500,000 569,000 555,000 1,210,000 116,000 120,000 234,000 128,000 258,000 309,000 1,669,000 0 0 119,000 511,000 52,000 321,000 68,000 252,000 90,000 385,000 166,000 0 0 3,000 20,000 6,355,000 7,000,000 12,529,000 46,766,000 406,000 600,000 0 0 713,000 713,000 13,648,000 48,079,000 4,144,000 3,056,000 4,144,000 3,056,000 153,366,000 220, 192,000 34.000 160,000 0 601,000 150,000 250,000 100,000 100.000 100,000 100,000 50,000 600,000 250,000 953,000 24,000 0 200,000 330,000 56.000 100,000 391,000 93,000 4/3/2004 Validated Capital Improvement Program Updated for 2004-05 Project Title Total Project Cost Cost to 7/1/03 J-98 Electrical Power Distribution System Improvements 7,600,000 10,000 P1-105 Headwor1<s Rehab. and Expansion at Plant No. 1 25.002.000 J-100 Arc Flash Hazard Evaluation 160,000 P2-93 Dewatering Beds at Plant No. 2 Siting Study 50,000 N46 Warner Sewer Siphon 1,170.000 J-102 Treatment Plant Strategic Plan Update 3,620,000 1,550,000 J-101 Collection System Strategic Plan and Model Update 500.000 0 P1-109 Enterprise Contract Management Solution 1,175,000 J-104 Electronic Time Entry System 250,000 J-103 SCADA Historian Replacement 456,000 SP-103 PDS2D Software Replacement 200,000 P1-108 Fats, Oils, and Grease (FOG) Software 100,000 J-105 Underground Storage Tank Rehabilitation 1,390,000 Total Validated CIP & Updates Cash Flow 2,438,241,000 210,198,000 H:\dept\fin\210\STREED\Excel\2004-05 Budget\FAHR CIP summary ~g40~spage l 46 Page 5 of 5 2003-04 2004-05 1,140,000 160,000 50,000 30,000 0 330,000 0 300,000 175,000 225,000 456,000 200,000 60,000 635,000 153,400,000 228,561,000 Book page 147 t::c 0 0 -~ 'Cl I» Otl ("I) -+:> 00 4/3/2004 Ref Description Revenues: General User Fees 2 Pennltted User Fees 3 Property Taxes (5% yr) 4 New COP Issues 5 Interest Revenues (4%) 6 Connection Fees 7 Other Revenues 8 Revenues Requirements: 9 Oper & Mice Exp 10 Capital Improvement Program 11 Repl, Rehab & Refurb 12 COP Service (5.0%, 30 yrs) 13 Other Requirements 14 Requirements 15 Revenues-Requirements Accumulated Funds: 16 Beginning_ of Year 17 End of Year 18 Reserve Policy Sewer Service User Fees: 19 Avg SFR Annual User Fee 20 Percentage Change 21 Equivalent Dwelling Units 22 SFR Connection Fee 23 Outstanding COPs Reserve Polley 24 50% Next Year Operating 25 10% Next Year Operating I 26 100% Next Year AUG COP Ser 27 50% average CIP bal to 2020 28 Short tenn CIP, GWRS 29 DSR @ 10% Outstanding COPs 30 SFI @ $57mm INPUT 31 Repl & Refurb @ 2%/yr 32 Total COP Ratios 33 Sr Lien Coverge, Min 1.25 34 Additional Bonds, 1.25 Projected 03-04 88,000,000 4,800,000 43,500,000 280,000,000 20,051,000 9,120,000 25,100,000 470,571 ,000 96,500,000 153,394,000 33,973,000 4,451,000 288,318,000 182,253,000 420,167,000 602,420,000 333,838,235 $100.00 14.29% 880,000 $1 ,820 $633,465,000 50,750,000 10,150,000 41,917,000 60,674,235 63,347.000 57,000,000 50,000,000 333,838,235 2 77 2.77 Proposed 04-05 101,568,000 5,160,000 45,675,000 20,389,000 11,560,000 28,400,000 210,752,000 101,500,000 228,561,000 41,917,000 3,751,000 375,729,000 (164,977,000) 602.420.000 437 .443.000 339. 724.844 $115.00 15.00% 883,200 $2,890 $625,525,000 52,718,000 10,544,000 48,586,000 57,323,844 62,553,000 57,000,000 51.000,000 339,724,844 261 2 61 Preliminary 05-06 117,005,000 5,541,000 47,959,000 200,000,000 16,391,000 11,560,000 29,100,000 427,556,000 105,436,000 308,740,000 48,586,000 3.751,000 466,51:3.000 (38,957 ,ODO) 437 .44:3,000 398,486,000 369,137,100 $1:32.00 14 78% 886,400 $2,890 $812,770,000 54,757,000 10,951,000 62,278,000 50,854,100 - 81,277,000 57,000,000 52,020,000 369,1.37,100 2 51 2 51 Orange County Sanitation District Summary Cash Flow Projections Preliminary 06-07 136,109,000 5,982,000 50,357,000 220,000,000 15,812,000 11 ,560,000 28,500,000 468,320,000 109,514,000 283,321,000 62,278,000 3.751.000 458.864,000 9,456,000 398,486,000 407,942,000 400,199,929 $153.00 15.91% 889,600 $2,890 $1 ,016,295,000 56,870,000 11,374,000 75,898,000 44,367,929 - 101,630,000 57,000,000 53,060,000 400,199,929 2.23 2.23 Preliminary 07-08 156,240,000 6,412,000 52,875,000 195,000,000 16,600,000 11,560,000 27,600,000 466,287,000 113,740,000 242,206,000 75,898,000 3,751,000 435,595,000 30,692,000 407,942,000 438,634,000 428,194,231 $175.oo I 14.38% 892,800 $2,890 $1 ,190,558,000 59,059,000 11,812,000 88,681,000 38,465,231 - 119,056,000 57,000,000 54,121,000 428,194,231 2.08 2.08 Preliminary 08-09 172,032,000 6,723,000 55,519,000 200,000,000 17,803,000 11,560,000 20,300,000 483,937,000 118,118,000 242,684,000 88,681,000 3,751,000 453,234,000 30,703,000 438,634,000 469,337,000 456,644,833 $192.00 9.71% 896,000 $2,890 $1 ,365,667,000 61,327,000 12,265,000 102,724,000 31,558,833 - 136,567,000 57,000,000 55,203,000 456,644,833 1.87 1.87 H:ldeptlfin\210\STREEO\Excel\2004-05 Budget\2004-05 Preliminary Budget & Cash now 15% xis Preliminary 09-10 188,832,000 7,038,000 58,295,000 225,000,000 18,931,000 11,560,000 21,500,000 531,156,000 122,653,000 275,218,000 102,724,000 3,751,000 504,346,000 26,810,000 469,337,000 496,147,000 480,621,909 $210.00 9.38% 899,200 $2,890 $1 ,561,329,000 63,676,000 12,735,000 112,853,000 21,917,909 . 156,133,000 57,000,000 56,307,000 480.621,809 1.79 1.79 Preliminary 10-11 207,552,000 7,373,000 61,210,000 85,000,000 19,224,000 11,560,000 1 B.000,000' 409,919,000 127,351 ,000 150,846,000 27,000,000 112,853,000 3,751,000 421,801,000 (11,882,000) 496,147.000 484,265,000 485,547.400 $230.00 9.52% 902,400 $2,890 $1,600,589,000 66,108,000 13,222,000 115,158,000 16,567,400 - 160,059,000 57,000,000 57,433,000 485,547,400 1.75 1.75 Preliminary 11-12 229,117,000 7,742,000 64,271,000 18,008,000 11,560,000 16:900,000 347,598,000 132,216,000 107,780,000 38,800,000 115,158,000 3,751,000 397,705,000 (50,107,000) 484.265..000 434,158,000 482,048.444 $253.00 10.00% 905,600 $2,890 $1,564,575,000 68,627,000 13,725,000 115,236,000 12.420,444 - 156,458,000 57,000,000 58,582,000 482,048,444 1.87 1.87 Preliminary 12-13 254,464,000 8,155,000 67,485,000 - 17,272,000 11,560,000 13,200,000 372,136,000 137 ,254,0DD sg,522,000 33,800,000 115,236,000 3,751,000 359,563,000 12,573,000 434,158,000 448,731,000 495,891,875 $2B0.00 10.67% 908,800 $2,890 $1 ,523,715,QOO 73,461,000 14,692,000 128,985,000 9,627,875 - 152,372,000 57,000,000 59,754,000 495,891.875 2.04 2.04 2:48 PM 10 Year Total 1,650,919,000 64,926,000 547,146,000 1,405,000,000 180,481,000 113,160,000 226.B00,000 4,188 232,000 1,164,282,000 2,062,272,000 99,600,000 797,304,000 38,210,000 4.161,668,000 26,564,000 420.167 .000 446,731.000 495,891,875 4/3/2004 2:48 PM Orange County Sanitation District Summary Cash Flow Projections Preliminary Preliminary Preliminary Preliminary Preliminary Preliminary Preliminary Grand Ref Description 13-14 14-15 15-16 16-17 .11:ll!. 18-19 19-20. Total Revenues: 1 General User Fees 250,800,000 237,952,000 220,416,000 221,184,000 221,952,000 222,720,000 223,488,000 3,249,431,000 2 Penmitted User Fees 8,082,000 7,B62,000 7,560,000 7,560,000 7,560,000 7,560,000 7,560,000 118,670,000 3 Property Taxes (5% yr) 70,859,000 74,402,000 78,122,000 82,028,000 86,129,000 90,435,000 94,957,000 1,124,078,000 4 New COP Issues -1,405,000,000 5 Interest Revenues (4%) 18,203,000 19,845,,000 21,103,000 20,625,000 19,217,000 19,114,000 20,575,000 319,163,000 6 Connection Fees 11,560,000 11 ,5601 ,000 11 ,560,000 11,560,000 11,560,000 11,560,000 11,560,000 194,080,000 7 Other Revenues 27,200,000 12,soo,.000 12,700,000 19,000,000 13,300,000 13,100,000 13,200,000 337,600,000 8 Revenues 386,704,000 384, 12 1 ,000 351,461,000 361,957,000 359.718,000 364,489,000 371 ,3'40,000 6,748,022,000 Requirements: 9 Oper & Mice Exp 146,921,000 152,511 ,000 158,298,000 164,288,000 169,995,000 175,894,000 181,472,000 2,313,661,000 10 Capital Improvement Program 26,168,000 29,592,000 24,965,000 24,319,000 27,737,000 10,618,000 10,647,000 2,216,318,000 11 Repl, Rehab & Refurb 46,000,000 14,9001,000 34,700,000 93,400,000 76,100,000 33,100,000 13,600,000 411,400,000 12 COP Service (5.0%, 30 yrs) 128,965,000 114,506,000 114,452,000 115,864,000 114,260,000 114,241,000 114,221,000 1,613,853,000 13 Other Requirements 3,751,000 3,751,000 3,751,000 3,751,000 3,751,000 3,751.000 3,751,000 64,467,000 14 Requirements 351,825,000 315,2601,000 336.166,000 401,622,000 391 ,863,000 337,604,000 323,691,000 6,619,699,000 15 Revenues-Requirements 34,879,000 4B,B61 ,000 15,295,000 (39,665,000) (32,145,000) 26,885,000 47,649,000 128,323,000 to Accumulated Funds: 0 0 16 BegJ!l!lirig of Yee~ 446,731,000 481 ,610,000 530,471,000 545,766,000 506,101.000 473,956,000 500,841,000 420.167.000 :,,;" "O 17 End of Year 461,610,000 530,471 ,000 r:,, 545,766,000 506,101 ,ODD 473,956,000 500.841.000 548,490,000 548,490.000 (1Q (1) -18 Reserve Policy ~093, 143 479,4681,500 479.888.100 476.092.250 473,302,167 471,832.750 467.709.750 .j:>. -- '° Sewer Service User Fees: 19 Avg SFR Annual User Fee $275.00 $260.00 $240.00 $240.00 $240.00 $240.00 $240.00 $3,681.50 20 Percentage Change (1.79%) (5 45%) (7.69%) 0.00% 0.00% 0.00% 0.00% 21 Equivalent Dwelling Units 912,000 915,200 918,400 921,600 924,800 928,000 931,200 22 SFR Connection Fee $2,890 $2,890 $2,890 $2,890 $2,890 $2,890 $2,890 23 Outstanding COPs $1,469,966,000 $1,426,787,000 $1,377,083,000 $1,320,100,000 $1,270,077,000 $1,217,753,000 $1,163,062,000 Reserve Policy 24 50% Next Year Operating 76,256,000 79,149,000 82,144,000 84,998,000 87,947,000 90,736,000 90,736,000 25 10% Next Year Operating 15,251,000 15,83•0,000 16,429,000 17,000,000 17,589,000 18,147,000 18,147,000 26 100% Next Year AUG COP Ser 114,506,000 114,45.2,000 115,864,000 114,280,000 114,241,000 114,221,000 114,221,000 27 50% average CIP bal to 2020 9,134,143 B,19'0,500 7,332,100 6,125,250 3,544,167 2,661,750 2,661,750 28 Short lenm CIP, GWRS 0 0 0 0 0 0 0 29 DSR@ 10% Outstanding COPe 146,997,000 142,679,000 137,708,000 132,010,000 127,008,000 121,775,000 116,306,000 30 SFI @ $57mm INPUT 57,000,000 57,00,0,000 57,000,000 57,000,000 57,000,000 57,000,000 57,000,000 31 Repl & Refurb @ 2%/yr 60,949 000 82, l6'8,000 63,411 ,000 64,879,000 65,973,000 67,292,000 68,6.38,000 32 Total 480,093,143 479,46;8,500 479,888,100 476,092,250 473,3Q2,1!l7 ______£1 ,832,750 467,709.750 COP Ratios 33 Sr Lien Coverge, Min 1.25 1 86 1.85 1.69 1.71 1.66 1.65 1.66 34 Additional Bonds, 1.25 1.86 1.85 1.69 1.71 1.66 1.65 1.66 H:ldepllfln\21 O\STREED\Excel\2004-05 Budget\2004-05 Preliminary Budget & Cash flow 15%.xls F AHR COMMITTEE Meeting Date To Bd. of Dir. 04-14-04 04-28-Q4 AGENDA REPORT Item Number 1tem Numbe-, FAHR04-36 Orange County Sanitation District FROM: Gary G. Streed, Director of Finance SUBJECT: 2004-05 SEWER SERVICE USER FEE ESTIMATES GENERAL MANAGER'S RECOMMENDATION Recommend to the Board of Directors to authorize and implement the sanitary sewer service user fee schedule for the fiscal years of 2004-05, 2005-06, 2006-07 and 2007-08, that was adopted last year subject to annual approval by 2/3 vote. SUMMARY Historically, the District has increased our overall sewer user fees in fairly small annual increments, using some debt financing to smooth the impact of the capital improvement program. With the public interest in improved effluent quality and the Board's decision to meet secondary treatment discharge standards rapidly, it became necessary last year to propose to increase the rates on the front-end of the capital improvement program in order to match the program itself and to reduce the long-term rate impacts of additional future debt financing. The Directors adopted a plan in 2003 that included debt financing for $1.4 billion of the $2.4 billion capital improvement program. By authorizing this amount of borrowing, the Directors were able to limit annual sewer user fee increases to 15% each year through 2007-08. The Board agreed with this plan and asked that the proposed fee increases be considered annually by the Board for implementation. 2004-05 will be the second year of this plan. A few things have changed since the adoption of the plan and of the 2003-04 budgets. We successfully issued $280 million of fixed-rate Certificates of Participation; so the annual debt service on 20% of the proposed new borrowing is known. We have embarked on the Validated Capital Improvement Program using the contract management services of IPMC. We have re-evaluated every project in the Validated Capital Improvement Program and many newly proposed projects as a part of the 2004-05 budget preparation process. At this point of the current year, the capital improvement program projections indicate that approximately $50 million of budgeted construction costs will be deferred to a future year. We have reached an agreement with the Orange County PFRD that they will be responsible for the protection of the Santa Ana River Interceptor; so we can remove $54 million of that project from our future budgets. The Board recently adopted increased Capital Facilities Capacity Charges which will increase connection fee revenues over the planning period. Book page 150 All of these changes and a few others combine to make it possible to continue within the adopted sewer user fee program which includes a $15 increase for 2004-05. If the Directors authorize the implementation of the approximate 15% annual adjustments for 2005-06, 2006-07 and 2007-08, these increases will be sufficient for those years as well. PROJECT/CONTRACT COST SUMMARY The 5-year sewer service user fee schedule for a single family residence is: 2003-04 $100.00 2004-05 $115.00 2005-06 $132.00 2006-07 $153.00 2007-08 $175.00 The rate for 2003-04 was implemented and will be the rate for 2004-05 without a Board action. The rate for 2004-05 is proposed for consideration. The rates for 2005-06, 2006-07 and 2007-08 are projected and can be approved by the Board without another direct mail notification to the service area property owners and without another Ordinance process. 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. fZ] Not applicable (information item). Applies to future budget periods ADDITIONAL INFORMATION The attached cash flow includes all of the changes that were mentioned above. The 2003-04 projections differ from the adopted budget to reflect our current information. Line 19 shows the estimated annual single-family residential user fee that will be needed to complete the Validated Capital Improvement Program and to meet COP service and operational & maintenance needs through 2020. Line 4 shows the new borrowing that was projected during the rate adoption process in 2003. The total new borrowing has not changed, but some has been moved to later years to reflect the deferred capital projects. Line 17 shows the estimated total end-of-the-year accumulated funds, sometimes called reserves. These balances should be compared to Lines 24 through 32 which show the components of the Board-adopted policy that the FAHR Committee reviewed last year. Special notice should be made of the amounts on Line 29; the Required Debt Service Reserves are maintained by Trustee Banks and are not available to the District. H:\depllfin\2101CRANEIFAHR\FAHR2004\APRIL\AgendaReport_ SewerServUserFeeRales 4-04.doc Revised: 06/04/03 Book page 151 Page 2 ALTERNATIVES None presented at this time. CEQA FINDINGS NIA ATTACHMENTS 1. Consolidated Cash Flow Projections GGS H:\depl\fin\210\CRANE\FAHRIFAHR2004\APRIL\AgendaReport_ SewerServUserFeeRales 4-04.doc Revised: 06/04/03 Book page 152 Page 3 Book page 153 4/612004 11:50AM Orange County Sanitation District Consolidated Cash Flow Projections Projected Preliminary Prelirnlnary Preliminary Preliminary Preliminary Preliminary Preliminary Preliminary Preliminary 10Year Ref Descriplion 03-04 ~ ~ 06-07 07-08 08-09 09-10 10-11 11-12 ~ Total Revenues: General User Fees 89,330,000 103,098,000 118,760,000 138,144,000 158,568,000 182,769,000 210,788,000 241,745,000 275,670,000 276,630,000 1,795,502,000 Permillcd User Fees 4,800.000 5,160,000 5,cAl,000 5,982,000 6,412,000 6.888.000 7,402,000 7,931,000 8,472,000 8,472,000 67,060,000, 3 Property Taxes (3% yr) 40,400,000 41,612,000 42,F:160,000 44,146,000 45,470,000 46,834,000 48,239,000 49,686,000 51,177,000 52,712,000 463,136,000 4 New COP Issues 280,000,000 250,r.JO0,OOO 265,000,000 180,000,000 205,000,000 150,000,000 75,000,000 1,405,000,000 5 Interest Revenues (4%) 20,232,000 19,925,000 15,F:167,000 16,271,000 17,044,000 18,003,000 18,798,000 19,026,000 18,282,000 18,105,000 181,553,000 6 Conneclion Fees 9,120,000 11,560,000 11,560,000 11,560,000 11,560,000 11,560,000 11,560,000 11,560,000 11,560,000 11,560,000 113,160,000 7 Other Revenues 2.G,000,000 22,600,000 20,200,000 20,!!00,COO 18,900.000 20700000 20,200,000 18J00OO0 17,900,000 12,400,000 198.100,000 8 Revenues 469,682,(100 204,155,000 48'1768.000 502,003,000 437.0:i4,000 491,754.000 486,987,000 423,048,000 383,061.000 -379.879,000 4,223.S'll ,.000 Requirements: 9 Oper & Mice Exp 94,500,000 106,416,000 108,244,000 110,072,000 111,900,000 113,728,000 115,556,000 117,384,000 119,212,000 121,040,000 1,118,052,000 10 Capital Improvement Program 145,449,000 260,379,000 303,.564,000 301,891,000 222,891,000 251,469,000 232,397,000 161,845,000 146,310,000 77,204,000 2,103,399,000 11 Repl, Rehab & Refurb 27,000,000 38,800,000 33,800,000 99,600,000 12 COP Service (5.0%, 30 yrs) 33,973,000 41,917,000 50,211,000 66,991,000 81,586,000 94,044,000 105,812,000 113,178,000 115,158,000 115,236,000 818,108,000 13 Olher Requirements 4.451 ,000 2..600.000 2,600,000 2,600,000 2,600,000 2,600,000 2.,600,000 2600.,000 2.800.000 2,600.000 27,851.000 14 Requirements 278,373.000 41'1.312..000 464,819.000 481,554,000 418,977 000 461 841,000 456,365,000 42l,007,000 422,080.000 349.Bll0.OOO 4,167,006,000 15 Revenues-Requirements 191,509,000 (207,157,000) 169,000 20,449,000 18,977,000 29,913,000 10,622,000 1,041,000 (39,019,000) 29,999,000 56,503,000 Accumulated Funds: 16 Beginning of Year 42.D, 167,000 611,076,000 ~04,, 519,000 404.6&1,000 425,137.000 444,114,000 474,027,000 4M,649,000 4 SS,690,000 •46.671,000 420 107 000 17 End of Year 611,678,000 404,51·9,000 404 698.000 425,137,Qlll.'l 444,11 4·000 474,027,000 484,649,000 4.85,890,000 J48,67 I 000 478,870,000 470.670.000 t,:) 0 18 Rese,ve Policy 343,787,000 347,490.000 363. 10', 000 416,010,CO0 439. 706,000 463,439,000 478,253,000 469,489,000 461!,656,®0 479,984 000 479.064.000 0 :,,;-' "O Sewer Service User Fees: $>) (IQ 19 Avg SFR Annual User Fee 0 $10000 $115 00 $132.00 $153 00 $175 00 $201.00 $231.00 $264 00 $300.00 $300.00 ..... 20 Percentage Change 14.29% 15.00% 14,78% 1591% 14.38% 1486% 1493% 14.29% 1364% 000% VI 21 Equivalent Dwelling Units .i,. 893,300 896,500 899,700 902,900 906,100 909,300 912,500 915,700 918,900 922,100 22 SFR Connection Fee $1,820 $2,890 $2,890 $2,890 $2,890 $2,890 $2,890 $2,890 $2,890 $2,890 23 Outstanding COPs $628,465,000 $616,983,000 $650,474,000 $1,094,867,000 $1,249,680,000 $1,425,666,000 $1,542,277,000 $1,493,600,000 $1,455,580,000 $1,412,399,000 Reserve Policy 24 50% Nexl Year Operating 53,208,000 54,122,000 55,036,000 55,950,000 56,864,000 57,778,000 58,692,000 59,606,000 60,520,000 63,659,000 25 10% Next Year Operating 10,642,000 10,824,000 11,007,000 11,190,000 11,373,000 11,556,000 11,738,000 11,921,000 12,104,000 12,732,000 26 100o/, NeKI Year AUG COP Ser 41,917,000 50,211,000 66,991,000 81,586,000 94,044,000 105,812,000 113,178,000 115,158,000 115,236,000 128,985,000 27 50% average CIP to 2020 68,173,000 62,635,000 Sfl,008,000 48,637,000 41,336,000 33,523,000 25,110,000 19,011,000 17,656,000 16,614,000 28 Short term CIP, GWRS 29 DSR@ 10% Outstanding COP 62,847,000 61,698,000 85,047,000 109,467,000 124,968,000 142,567,000 154,228,000 149,360,000 145,558,000 141,240,000 30 SFI @ $57mm INPUT 31 Repl & Refurb @ 2%/yr 57,000,000 57,000,000 57,000,000 57,000,000 57,000,000 57,000,000 57,000,000 57,000,000 57,000,000 57,000,000 -50 000,000 51.000,000 s:..020,000 5:l,060.000 64,121.000 55,203,000 5a,30T,OO0 S7,433,000 .58;6112,UOO 59,764,000 32 Tolal 343,767,000 347,4DO,0OO '.lS-'1,109,000 416,910,000 439;708,000 463.439,000 476,263.000 469,489,000 466,656,000 479,984,,000 COP Ratios 33 Sr Lien Coverge, Min 1 25 2 81 2 33 2.12 1 89 1 79 1.64 190 204 2 29 2 25 34 Additional Bonds, 1.25 2 81 2 33 212 1.89 1 79 1.84 1 90 2 04 2 29 2 25 H:ldeptlfinl210\CRANEIFAHRIFAHR2004\APRIL\Attachmenl_ 1_SewerServUserFeeRalescash Flow 2-04 x:ts 4/612004 11:50AM Orange County Sanitation District Summary Cash Flow Projections, Entire Collections System Preliminary Prelirrninary Preliminary Preliminary Preliminary Preliminary Preliminary Grand Ref~ 13-14 14-15 &!§_ 16-17 17-18 1l!:1J! ,WQ_ Total Revenues: General User Fees 268,337,000 259,980,000 251,559,000 243,074,000 234,525,000 225,912,000 217,235,000 3,496,124,000 2 Permitted User Fees 8,331,000 8,187,000 8,041,000 7,892,000 7,740,000 7,585,000 7,427,000 122,263,000 3 Property TaKes (3% yr) 54,293,000 55,922,000 57,600,000 59,328,000 81,108,000 62,941,000 84,829,000 879,157,000 4 New COP Issues 1,405,000,000 5 Interest Revenues (4%) 19,133,000 20,730,000 22,737,000 23,260,000 22,734,000 23,359,000 25,304,000 338,810,000 6 Connection Fees 11,560,000 11,560,000 11,560,000 11,560,000 11,560,000 11,560,000 11,580,000 194,080,000 7 Otha< Revenues 11,60(),000 11,900,000 11.500.000 11.500,000 11,500.000 11,100,000 10,300.000 2n,soo.ooo B Revenues 373,254,000 36B ,279,000 362,997,000 ar.6,614.000 349,167,000 342,457,000 336,655.000 ___ 8,712,934.000 Requirements: 9 Oper & Mice EKp 127,316,000 129,222,000 131,126,000 133,030,000 134,553,000 136,076,000 137,218,000 2,046,595,000 10 Capital Improvement Program 45,904,000 48 ,064,000 36,735,000 28,417,000 31,790,000 14,414,000 11,846,000 2,320,569,000 11 Repl, Rehab & Refurb 46,000,000 14,900,000 34,700,000 93,400,000 76,100,000 33,100,000 13,600,000 411,400,000 12 COP Service (5 0%, 30 yrs) 128,985,000 114,506,000 114,452,000 115,864,000 114,280,000 114,241,000 114,221,000 1,834,655,000 13 other Requirements 2,600,000 2-,600.000 2.600,000 2,600,000 2.600.000 2,600.000 2,600.000 48,051.000 14 Requirements 350,807.000 309,292,000 319,613,000 373,3 I 1,000 359,323,000 3D0.~3I.000 279.485,000 6,459,270.000 15 Revenues-Requirements 22,447,000 58,987,000 43,384,000 (16,697,000) (10,156,000) 42,026,000 57,170,000 253,664,000 Accurrulated Funds: 16 Beginning of Year 476.670,000 499,117.000 558.104,000 601,488_000 584,791.000 574.635,000 616,661.000 420.167,000 17 End of Year 499.117.000 558 ,104,000 601,488.000 584,791 ,000 574,635,000 616,661,000 873,833,000 673.831.000 to 18 Rese<Ve Policy 461,437 ,000· 459,132.000 456,799.000 450,2:!_5,000 444,089.000 440.627,000 _ ___!37,822,000 0 0 :,;-- "C Sewer Service User Fees: ~ (J(l 19 Avg SFR Annual User Fee $290 00 $280 00 $270 00 $260 00 $250 00 $240 00 $230.00 $3,897.50 (1) ..... 20 Percentage Change (333%) (345%) (3 57%) (3 70%) (3 85%) (400%) (417%) Vl 21 Equivalent Dwelling Unils 925,300 928,500 931,700 934,900 938,100 941,300 944,500 Vl 22 SFR Connection Fee S2.890 $2,890 $2,890 $2,890 $2.890 $2.890 $2,890 23 Outstanding COPS $1,355,985,000 $1,309 .767,000 $1.256,61 B,000 $1,195,746,000 $1,141,354,000 $1,084,138,000 $1,023,989,000 Reserve Policy 24 50% NeKI Year Operating 64,611,000 65,563,000 66,515,000 67,277,000 68,038,000 66,609,000 68,809,000 use current year 25 10% NeKt Year Operating 12,922,0()(J 13,113,000 13,303,000 13,455,000 13,608,000 13,722,000 13,722,000 use current year 26 100% Next Year AUG COP Ser 114,506,000 114,452,000 115,864.000 114,280,000 114,241,000 114,221,000 114,221,000 use current year 27 50% average CIP lo 2020 15,850,000 15,859,000 15,044,000 13,969,000 11,094,000 11,369,000 13,233,000 input 28 Short term GIP, GWRS 0 o 0 o 0 o 0 29 DSR @ 10% Outstanding COP 135,599,000 130,977,000 125,662,000 119,575,000 114.135,000 108,414,000 102,399,000 30 SFI @ $57mm INPUT 57,000,000 57,000,000 57,000.000 57,000,000 57,000,000 57,000,000 57,000,000 31 Repl & Refurb @ 2%/yr 80,949,0[J(J 62,168,000 63.411.000 64.679.000 65.973,000 67,292,000 68,6'.lB,OOO 32 Total 461.437 000 459,1a2,000 456,790,000 460,235,000 444,089,000, 440,627,000 437,82J,000 COP Ratios 33 Sr Lien Coverge, Min 1 25 1 91 209 2 03 1 93 1 88 1 81 175 34 Additional Bonds, 1 25 191 2 09 2 03 1 93 1.68 1 81 175 H:\depMn\21 O\CRANEIF AHRIF AHR2004\APRIL \Attachment_ 1 _ SewerServUserf eeRatesCash fl<l'N 2-04 K:ls FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Gary G. Streed, Director of Finance Originator: Michael D. White, Controller Meeting Date 04/14/04 l tem Nutnber FAHR04-37 SUBJECT: IN-HOUSE PROPOSAL TO REVIEW COMMERCIAL PARCELS GENERAL MANAGER'S RECOMMENDATION Receive and approve staff's proposal to review commercial parcels. SUMMARY To Bd. of Dir. ltt;!mNumber In February 2004, the Finance, Administration and Human Resources (FAHR) directed staff to prepare a detailed report on how in-house staff would review commercial parcels as to property use and square footage to ensure that commercial properties were being billed accurately. The attached report details staff's proposal to complete this project in- house. PRIOR COMMITTEE/BOARD ACTIONS N/A PROJECT/CONTRACT COST SUMMARY NIA BUDGET IMPACT 0 This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. (81 This item has not been budgeted. D Not applicable (information item) The budget for this proposed project will be included in the FY 2004-05 Proposed Budget. ATTACHMENTS Staff Report to FAHR dated April 14, 2004. H:\dept\finl210\CRANE\FAHR\FAHR20041APRILIAgendaReport_ln-House Proposal on Review of Commercial Parcels0404.doc Revised: 06/04/03 Book page 156 Page 1 April 14, 2004 STAFF REPORT In-House Proposal to Review Commercial Parcels In February 2004, the Finance, Administration and Human Resources (FAHR) directed staff to prepare a detailed report on how in-house staff would review commercial parcels as to property use and square footage to ensure that commercial properties were being billed accurately. Following is staff's proposal to complete this project in-house. Background The major revenue source of the District is the sewer service fee that is assessed on each improved parcel within the District's service area through the property tax bill of the County of Orange (County), and then subsequently collected and remitted by the County to the District. The sewer service fee covers the District's cost of collection, treatment and disposal of all wastewater received from the individual parcels. The fees are established by ordinance of the District Board and vary according to the use of the parcel and the level of service that is required. Separate "user billing" codes are assigned to each parcel depending on whether the parcel is developed for residential, commercial, industrial, or governmental use. Each year, prior to finalizing the property tax assessment, the County Assessor's Office provides the District with an update of improvements or other changes to parcels located within the District's boundaries that may affect the amount of the fee for these parcels. However, since the County is not responsible for ensuring the accuracy of the appropriate sewer user code, there may be parcels that are under assessed or not assessed the proper sewer service fee in accordance with the assessment method established by the District. Uncharged parcels may exist because the County Assessor's Office may identify some parcels with improvement values but no square footage or they may indicate some square footage with no improvement values when improvements do exist. Under charged values may exist when the County Assessor's Office does not know the extent of improvements on parcels, the square footage identified for certain parcels is inaccurate, or the Assessor's property use code may be incorrect. OCSD • P.O.Box8127 • FountainValley,CA 92728-8127 • (714)962-2411 Book page 157 In-House Proposal to Review Commercial Parcels April 14, 2004 Page 2 of 6 The District service area includes 500,000 parcels, approximately 475,000 of which indicate improvements and are included in the District's sewer service fee program. Of these 475,000 improved parcels, approximately 428,500 parcels are single or multi- family residential parcels. The remaining 46,500 parcels consist of commercial, industrial, and governmental classifications, and have the most potential for reclassification and additional revenue. The single family residents are assessed a flat rate fee, the multi-family residents are charged a flat rate fee on a per unit basis and commercial, industrial, and governmental, parcels are assessed a fee per 1,000 square foot of building improvements based on their individual property user fee code. Commercial user fees generate approximately $29 million each year. These properties are billed a rate per thousand square feet which corresponds to the specific use code of their property. The use code and square footage have been obtained through the Orange County Assessor Office Data Center, a main frame program, updated every 12 months. In October of 2003, the Revenue Division moved this database in-house and designed a program specific for our use. As a result, we have more flexibility and total control over how the database is used. For example, when construction or demolition takes place, we can ensure square footage changes are effective immediately. Our foremost concern is the accuracy of the use code and square footage information that we use to calculate the fees for our customers. The information in our database was originally obtained from the Assessor's Office. Any use codes errors and/or square footage miscalculations were transferred to our database. Identifying and adjusting these discrepancies could generate additional revenue for the District. By reviewing all commercial properties in-house, staff will have a high confidence level in the data that we use to bill our customers. Obiectives To determine the following information on all commercial parcels located within the boundaries of the District: • Property Use; • Square footage of building; • The proper annual sewer use fee; • The source of data used to determine the above; and • The name and address of the property owner for the current and past four years. Any increases in the current annual sewer use fee will be communicated to the Auditor- Controller's Office to reflect the proper fee on the property tax bill on a going forward basis. Any decreases in the current annual use fee will be used to determine whether refunds are due to the property owner back as far as four years. Water consumption and estimated sewage discharge will be considered prior to issuing any refunds. Book page 158 In-House Proposal to Review Commercial Parcels April 14, 2004 Page 3 of 6 Scope of Proiect District staff will review the District's copy of the County Assessor's database for under assessed and unassessed parcels and make recommendations on the sewer user code reclassifications for additional sewer service fee revenue. Staff also will review the District's flow, BOD and SS assignments to each property use code and make recommendations for improving these user fee charges to match the District's policy of charging user's only for their fair share. Staff has identified areas (property use codes) to be reviewed that appear to be in need of review. Staff is also aware that there are parcels that are still under assessed and will be identifying these codes and recommending a corrected fee. Areas that will likely result in additional revenues include the review of: • 2,734 parcels, 1,050 of which are governmental parcels, that do not currently receive a sewer service fee assessment because the County has not identified the square footage of improvements, although these parcels have assessed improvement value according to the County's database. Staff has developed a report identifying the parcels. • The appropriate property user code classification of the various shopping centers within the District's boundaries. • The 4,031 parcels identified with the user code "018". The description of the "018" user code is "developed parcels with a mix of forms" and the fee for this code is the same as the fee for a multi-family resident. There are 3,163 parcels in this code that are known to be multi-family residences but the remaining parcels require an on-site review to be properly recorded. • Commercial parcels that continue to be -adjusted for rebates since the change in the user fee billing methodology from commercial or residential code to specific use code beginning with FY 1998-99. The attachment to this proposal is a listing of all of the District's non-residential sewer use codes along with the annual sewer service charge for each per 1 ,000 square feet. In-House Methodology In order to complete this project in-house, the Revenue Section within the Accounting Division of the Finance Department would need to obtain temporary services equivalent to 13.5 full-time employees for a period of ten months to review a total of 46,500 parcels. In addition, staff is recommending hiring one full-time permanent Senior Staff Analyst to review the data collected and input it into our database. After the initial review, the Senior Staff Analyst will be responsible for reviewing parcels and Book page 159 In-House Proposal to Review Commercial Parcels April 14, 2004 Page 4 of 6 maintaining the database on an ongoing basis (see "Maintaining Data Base Going Forward" below). The following tools would be utilized by the Revenue Section to review parcels: Realquest and Win2Data-property profile databases on the internet - • Offer the industry's most current and comprehensive real estate information databases. • Programs are used to obtain square footage information along with accessing parcel maps to identify parcel boundaries for site inspections. Company Websites on the Internet- • Tenant lists for shopping malls and industrial parks. Switchboard.com - • Identifies businesses on a parcel and at surrounding addresses. Contacts in the Real Property Division at the County Assessor's office - • Provides information about parcel's construction history. Contacts at the local Water agencies and Building Departments - • Confirms water consumption and meter verification • Assists in establishing square footage and property use through information contained within building permits. • Connection fee data can be useful to find information on square footage and property use on new construction. Site Inspections - • Will be used on an as needed basis to confirm exactly what sits on a parcel. Review of a site map will help determine if the parcel is potentially developed and whether a site visit is warranted. For example, parcels that have been established for the left over property after a freeway has been contructed and that cannot be usefully developed, or greenbelt properties will not require a site visit. This project would start with the prioritization of use codes for reviewing individual parcels, as follows: • 001-Vacant or unimproved parcels • 118 -Government coded parcels • 097 -Strip stores • 056 -Motels and hotels Book page 160 In-House Proposal to Review Commercial Parcels April 14, 2004 Page 5 of 6 Unimproved properties identified by use code 001 are easy to find, and staff can review parcel maps to decide which could not be developed. An increase from zero fees to any fee would be the largest percentage increase. The use code 118, adopted by the Assessor's Office, identifies properties owned by government entities and therefore exempt from property taxes. Though useful to the Assessor's Office, this use code does not assist the Orange County Sanitation District in the correct calculation of fees and should be addressed first. For example, we have found use code 118 properties to generally include diverse uses such as libraries, fire stations, post offices, and city halls. However, all properties owned by government agencies have been coded with a use code of 118 and may include recreation facilities, restaurants and hotels which would be subject to different rates. The use code 097 is a broad category and often includes strip stores with small coin laundry facilities or business types otherwise found in high use shopping center codes. The use code 056 groups motels and hotels together. In reviewing claims, the Revenue Section has found that while many large hotels are often using less water than an "average" hotel of the same square footage, smaller motel type businesses are being undercharged. We have recently identified a need for a Laundromat and Night Club use code. It should be that these need to be on separate parcels to be billed as such. Otherwise they are included in shopping centers, strip stores, etc. Staff would then proceed through the other use codes such as restaurants until all use codes are reviewed. Parcels that have been reviewed and adjusted in prior years would be reviewed last because they would be considered to have the most up to date information at this time. Project Costs Commercial Property Review -Cost Breakdown #of Maximum Temporary (10 mths.) # Parcels Employees Average# parcels Temp Total to be or Business per Hourly #Work per Reviewed Interns Days day Rate hrs/day *Total Costs parcel$ 46,500 13.5 215 216 $30.00 8 $696,600 $14.98 *Does not include mileage reimbursements or Senior Staff Analyst position salary/benefits Maintaining Data Base Going Forward Once the initial review is complete, we would then establish a policy of reviewing 20% of our total number of parcels on an annual basis. This would allow for the entire Book page 16 I In-House Proposal to Review Commercial Parcels April 14, 2004 Page 6 of 6 database to be reviewed every 5 years and ensure that comme~cial property owners would continued to be billed accurately. Qualification of Staff Angela Belt, Principal Accountant over the Revenue Section, will be the project lead. Angela has one year experience working for a private company in direct assessment refunds and has reviewed and understands the direct assessment processes of many public agencies. Angela is currently working on her MBA from California State University, Dominguez Hills and possesses the knowledge, skills, and abilities to compete this assignment. Time of Performance Staff is proposing to complete this project by February 2005. However, all commercial properties reviewed and adjusted by the County Auditor-Controllers' special assessment submission deadline of August 11 will be included on the FY 2004-05 property tax bill. All commercial properties reviewed and adjusted after August 11 will be included on the FY 2005-06 property tax bill. Summary The Revenue Section's main focus is finding ways to improve and streamline the billing process. By completing this project in-house, we maintain both the integrity of the information and our database. Due in part to the Internet and Real Estate software programs now available, the Revenue Section has more access to knowledge than ever before as to what specifically is located on a parcel and the category best suited for the business being conducted. MW H:\dept\fin\210\CRANE\FAHR\FAHR2004\APRIL\Attachment_ Un-House Proposal to Review Commercial Parcels.doc Book page 162 F.AHR COMMITTEE Meeting Date To Bd. of Dir. 4/14/04 . AGENDA REPORT Item Number Item .Number FAHR04-38 Orange County Sanitation District FROM: Carol Beekman, Communications Services Manager 6 SUBJECT: COMMUNICATIONS SERVICES STRATEGIC PLAN FY 2003-04 UPDATE GENERAL MANAGER'S RECOMMENDATION For information only SUMMARY After presenting the "Communications Services Strategic Plan FY 2003-04" to the FAHR committee in October 2003, Communications Services committed to a quarterly review with the Board and General Manager to evaluate the process. PRIOR COMMITTEE/BOARD ACTIONS Communications Services Strategic Plan FY 2003-04 presented to FAHR in October 2003. Received and filed by Board October 2003. First quarterly update presented to FAHR on 2/11 /04. PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. · ~ Not applicable (information item) ADDITIONAL INFORMATION Current projects include: 1. Fats, Oils and Grease (FOG) Community Outreach Program -The Request for Proposal for the regional Waste Discharge Requirement (WDR) education program toolbox was mailed on March 15. Proposals were received April 6 and interviews are scheduled for the weeks of April 12 and 19. The panel includes an engineer from Newport Beach, a public information officer from Anaheim and OCSD staff. 2. Intranet Development -The new OCSD Intranet site was launched on February 17, 2004. An online poll to test employee reaction to the site received 119 responses with high grades for this employee-oriented communication tool. A naming contest in now underway, with over 75 names submitted by employees. H:\depllfinl210\CRANEIFAHR\FAHR2004\APRIL\AgendaReport_CommServSlraPlanUpdale.doc Revised: 06/04/03 Book page 163 Page 1 3. Biosolids Outreach·-The Orange County Sanitation District is establishing a Biosolids Ad\lisory Committee (BAC) to educate msidents and stakeholders about OCSD's Long-Term Biosolids Management Plan and to obtain vital input on how to best implement the viable alternatives. An electronic newsletter was sent March 16 to 1,200 people. A press release was also sent on this topic and a new section added to the OCSD Web site. Applications are currently being reviewed. 4. 50th Anniversary -The 50th Anniversary logo with the tagline, "Proudly Protecting the Environment for 50 Years" was designed and placed on banners at both plants. The logo will be used on the Intranet, Web site, stationery and seals. Historical retrospectives are published monthly in the employee newsletter. 5. Community Outreach -OCSD is participating in Orange Coast College Earth Day event on April 22 in Costa Mesa, the Goldenwest College Earth Day Expo on April 29 and in the Children's Water Festival May 11 and 12 in Irvine. 6. Construction Outreach -Communications Services staff provided community meetings, briefings, collateral materials, media alerts and other information to the community, city staff and Board of Directors on the Bushard and Tustin projects. 7. Corporate Identity Program-The RFP for Phase I of the Corporate Identity project (resec;1rch portion) closed on March 20. Staff will interview bidders this month, with an anticipated start date for tile research work to begin in mid-May. 8. External Communications -Communications Services provides ongoing updates to the Web site, including the FOG grant press release on March 15 and BAC press release on March 17. 9. Groundwater Replenishment (GWR) System -The GWRS joint OCWD/OCSD workshop will be held April 21 from 5-7 in OCSD Board room. ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS None. H:ldeptlfin\210\CRANE\FAHR\FAHR2004\APRIL\AgendaReport_CommServStraPlanUpdate.doc Revised: 06/04/03 Book page 164 Page2 Orange County Sanitation District (714) 962-2411 www.ocsd.com mailing address: P.O. Box 8127 Fountain Valley, California 92728-8127 street address: 10844 Ellis Avenue Fountain Valley, California 92708-7018 OCSD 6/03 FAH R CO MM ITTEE AGE NDA REPORT Orange County Sanitation District FROM: Gary Streed, Director of Finance Originator: Michael White, Controller Meeting Date To Bel. of Dir. 04/14/04 04/28/04" Item Number Item Number FAHR04-23 SUBJECT: TREASURER'S REPORT FOR THE MONTH OF MARCH 2004 GENERAL MANAGER'S RECOMMENDATION Receive and file Treasurer's Report for the month of March 2004. 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 tirrie 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 0.41 percent of the portfolio holdings, whose rating from Moody's has fallen several times, from A3 to BA 1, then to BA3, B3, 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+, B-, 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 $1 million par of the Philip Morris-Altria corporate bond with an April 2004 maturity, representing 0.26 percent of the portfolio holdings, whose rating with Moody's has fallen from A2 to Baa1 and then to H:ldeptlfin\220\geggie\FAHRITREASRPT041304.doc Page 1 Baa2, and with S&P from A-to BBB. During the month of November, PIMCO sold $4 . million par of this original $5 million holding at a price of $101.9 for a real ized loss of $134,400. PIMCO believes based on the underlying as.sets of the parent company, that the District would suffer a severe unwarranted loss if the remaining $1 million holdiflgs were sold at this time. The District's investment policy does not require any action because of "credit watch" notices or the decline in credit standing. However, PIMCO will continue to monitor the credit for these two securities very closely. Historical cost and current market values are shown as estimated by both PIMCO and Mellon Tru$t. The DistriGt's portfolios are priced to market ("mark-to-market") as of the last day of each reporting. period. The $light differences in value are related to minor variations in pricing assumptions by the valuation sources at the estimate date. BUDGET IMPACT D This item has been budgeted. (Line item: [g] 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). The remaining $65.9 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 $127,877,000. 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. H:ldepllfin\220\geggie\FAHRI TREASRPT041304.doc Page 2 Book Balances Estimated Investment Accounts March 31, 2004 Yield(%) State of Calif. LAIF $ 18,628,614 1.47 Union Bank Checking Account 2,230,695 0.88 (1) PIMCO -Short-term Portfolio 91,365,418 1.22 PIMCO -Long-term Portfolio 389,615,511 2.13 Petty Cash 5000 N/A TOTAL 3i5Q:I 845 238 1.92 Debt Service Reserves w/Trustees 3i:12Z 8Z6 823 2.11 (1) This is the annualized yield for the month of February. The March 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 H :ldepllfin\220\geggie\F AHRITREASRPT041304 .doc Page 3 Prepared by Finance, 4/13/2004, 2:35 PM Monthly Investment Balances by Type- Last Six Months $700,000,000 ....----------------------------------, $600 I 000 I 000 ~~ $500,000,000 -+---1 $400 I 000 I 000 +------I" $300,000,000 -, $200,000,000 $100,000,000 $0 October 2003 November 2003 December 2003 January 2004 la PIMCO -Long-term l'ZI PIMCO -Short-term 1§1 COP Debt Reserves 11D LAIF •Bank Accts •Petty Cash H:\dept\fin\EXCEL.dta\220\geggie\mo treas rpt\Monthly Investment Balances Graph 1.xls February 2004 March 2004 Orange County Sanitation District Investment Transactions and Balances in the State of California Local Agency lnvestmenf Fund March 31, 2004 Par Value Book Value Market Value Balance March 1, 2004 $16,928,614 $16,928,614 $16,928,614 Deposits: 3/17/2004 10,300,000 10,300,000 10,300,000 3/19/2004 71500,000 7,500 ,000 7,500,000 Total Deposits 17,800,000 17,800,000 17,800,000 Withdrawals: 3/3/2004 (700,000) (700,000) (700,000) 3/12/2004 (6,000,000) (6,000,000) (6,000,000) 3/15/2004 (700,000) (700,000) (700,000) 3/24/2004 (1,000,000) (1,000,000) (1,000,000) 3/25/2004 (5,100,000) (5,100,000) (5,100,000) 3/26/2004 (2,6001oool (2,600,000} (2,600,oool Total Withdrawls (16,100,000) (16,100 ,000) (16,100,000) Balance March 31, 2004 $18,628,614 $18,628,614 $18,628,614 Rate Yield 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 1.474 PIM C 0 April 12, 2004 Mr. Mike White, CPA Controller Orange County Sanitation District 10844 Ellis Avenue Fountain Valley, CA 92708-7018 Dear Mike: The following is a description of events in the bond markets during the month of March in addition to an analysis of the strategies undertaken in the Orange County Sanitation District's Long-Term, 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. Bond Market Recap: U.S. Treasuries beat other core bond sectors in March as weak employment data pointed toward continued low inflation. Although U.S. Treasuries returned 0.94% for the month, these gains were not without some volatility. Yields on the benchmark IO-year Treasury opened the month at 3.99%, rallied to a low of 3.65% on March 17th then retreated, finishing at 3.84%. Treasury Inflation Protected Securities, or TIPS, outperformed nominal Treasuries; the Lehman Brothers U.S. TIPS index returned 1.60% in March. Mortgage-backed securities returned 0.44%, trailing Treasuries by 4 basis points after adjusting for duration. The credit sector, represented by the Lehman Credit Index, also trailed Treasuries for the month, returning 0.97%, or -6 basis points after adjusting for duration. Within the sector, higher quality investment grade corporates outperformed, with Aa-rated bonds beating like-duration Treasuries by 3 basis points, whereas Baa-rated issues lagged by 13 basis points. New language from the Federal Open Market Committee acknowledged the weak hiring market and reassured investors that the Fed would not hike interest rates in the near future. March began with another disappointing Employment Situation Report, issued by the Bureau of Labor Statistics. The monthly report indicated that net payroll jobs increased by a paltry 21 ,000, well below consensus expectations of 128,000. The weak pace of hiring in service industries drove the disappointing results. Not surprisingly, the FOMC left rates unchanged the following week, however the Committee did alter its labor market assessment. The January phrase, "Although new hiring remains subdued, other indicators suggest an improvement in the labor market" was replaced by the less upbeat, "Although job losses have slowed, new hiring has lagged." On the Mr. Mike White, CPA Orange County Sanitation District April 12, 2004 Page2 inflation front, the Commerce Department's final fourth quarter 2003 figures revealed that the core personal consumption expenditure (PCE) price deflator, which is a closely watched inflation metric by the Fed, was revised upward from 0.7% annually to 1.2%. Though still very low, the upward trend was viewed as a potential sign that accommodative monetary policies are starting to generate inflationary pressure. March closed with another positive economic sign -two separate indicators of consumer confidence, The University of Michigan's Index of Consumer Sentiment and the Conference Board Consumer Confidence Index, both posted headline figures that exceeded market expectations. Treasury yield changes during the month of March are summarized as follows: • 3-month bills: unchanged at 0.94% • 6-month bills: -1 basis point to 0.99% • 2-year notes: -7 basis points to 1.57% • 5-year notes: -16 basis points to 2.78% • 10-yearnotes: -14basispointsto3.84% • 30-year notes: -7 basis points to 4. 77% Performance Attributio11: Long-Term Portfolio The Long-Term portfolio that PIMCO manages on behalf of Orange County Sanitation District generated a total return of 0.44 percent for the month of March, lagging the Merrill Lynch 1-5 year Government Corporate Index by 12 basis points. The following points summarize returns for the period ended March 31 : • The Long-Term portfolio lagged the benchmark by 12 basis points for the month. • For the twelve-month period~ the Long-Term portfolio ret\lmed 3.59%, underperfonning the benchmark by 25 basis points. • Portfolio duration, below the index, was negative for monthly performance as rates fell across most maturities. • Yield curve positioning similar to that of the index was neutral for performance. • An underweight exposure to corporates was positive for performance, as the credit sector underperformed Treasuries on a duration-adjusted basis. • Exposure to mortgage-backed securities was negative for relative performance as the sector slightly underperformed Treasuries on a duration-adjusted basis. • Substituting Treasury Inflation Protected Securities for nominal Treasuries was positive as TIPS outperformed nominals during the month. Mr. Mike White, CPA Orange County Sanitation District Liquid Portfolio April 12, 2004 Page3 The Liquid portfolio that PIMCO manages on behalf of Orange County Sanitation District generated a total return of 0.08 percent during the month of March, performing in line with the 3- month Treasury Bill Index for the month. The following points summarize returns for the period ending March 31 : • The Liquid portfolio performed in line with the benchmark for the month. • For the twelve-month period, the Liquid portfolio returned 1.12%, outperforming the benchmark by 12 basis points. • Use of higher yielding securities such as commercial paper and short-term notes contributed to performance. "2003 COP Proceeds -Future Construction" Portfolio The COP Proceeds portfolio that PIM CO manages on behalf of Orange County Sanitation District generated a total return of 0.09 percent during the month of March, performing in line with the 3- month Treasury Bill Index. The following points summarize returns for the period ending March 31: • The Liquid portfolio performed in line with the benchmark for the month. • Use of higher yielding securities such as commercial paper and short-term notes contributed to performance. Outlook and Strategy: The global recovery, centered in the U.S. and Asia, will continue for the next 6 to 12 months. Policymakers will press forward with reflationary measures that will delay a painful unwinding of economic imbalances. Excess capacity in labor and product markets worldwide will keep inflation quiet, leading to range-bound interest rates over the next two quarters. The ten-year Treasury yield will fluctuate between 4.0 and 4.5 percent over this time frame. Elements of temporary stability include: • In the U.S., consumer spending will hold up as tax refunds boost after-tax disposable income. This support for the consumer will be temporary, however, as individual tax benefits are set to phase out by the second half of 2004. Restocking of low inventory levels by companies will provide a more durable boost to growth in the U.S. • The Federal Reserve will raise currently negative real short-term rates only when it is convinced that disinflation has ended and U.S. employment growth is both substantial and sustainable. Financial markets could begin discounting such a positive scenario within 12 months, pushing the yield on the 10-year Treasury toward 5 percent. • China will remain a contributor to global demand, though its growth rate will slow as policymakers engineer a soft landing for its potentially overheated economy. A significant currency revaluation in China is unlikely over the next 6 to 12 months as China's de facto monetary union with America serves both countries' interests. Mr. Mike White, CPA Orange County Sanitation District April I 2, 2004 Page4 • Europe will remain the laggard in the global economy. While exports to China and emerging Europe are accelerating, recent gains in business confidence have peaked and consumer sentiment is weak. The balance of risks tilts toward more easing by the European Central Bank. The economic environment is unusually difficult to forecast because near-term stability could erode quickly if structural imbalances unwind faster than expected. Full valuations in core sectors such as mortgages and corporates pose considerable risk in this setting. PIMCO will continue to underweight the corporate sector and maintain reduced exposure to the mortgage sector, while looking for better opportunities outside the index. We will target below-benchmark duration but intend to move toward a neutral stance as rates trend upward. Curve positioning will favor shorter maturities as the Fed will anchor this end of the yield curve. We will also hold intermediate issues to enhance yield given a steep yield curve. 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 March 31, 2004 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 392,740,226 386,106,586 2.13 With Accrued Interest 91,619,208 91,786,612 1.22 2003 COP Proceeds -Future Construction -2203 Market Value Book Value Yield to Maturity With Accrued Interest 66,056,473 66,193,344 1.05 Without Accrued Interest 389,664,392 383,030,752 2.15 Without Accrued Interest 91,401,340 91,568,743 1.22 Without Accrued Interest 65,885,946 66,022,817 1.05 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 31 March 2004) 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 Imoact (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 A vera!!e Portfolio Credit Oualitv: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Comoliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: 1 Month: 3 Months: 12 Months: Fiscal Year-to-Date: Commentary • The Liquid portfolio perfonned in line with the benchmark for the month and outperfonned the benchmark by 8 basis points fiscal year-to-date. • PIMCO's emphasis on higher yielding securities such as commercial paper a:nd short-tenn notes contributed to performance. H:ldeptllinll201Geggle\FAHR\LIQ0800-04-0J.RPT.doc Page 1 of 1 $91,619,208 $91,616,868 $91,786,612 ' $91,820,163 0.15 0.20 $137.429 0% 73% ''AAA'' 0% Yes Portfolio Index 0.08 0.08 0.26 0.23 1.12 1.00 0.80 0.72 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 31 March 2004) Long-Term Operating Monies (203) 15.1.1 PORTFOLIO COST AND MARKET VALUE Current Market Value Estimate: • PIMCO • Mellon Historical Cost: • PIMCO • Mellon 15.1.2 MODIFIED DURATION Of Portfolio: Of Index: 15.1.3 1 % INTEREST RATE CHANGE Dollar Impact (gain/loss) of 1 % Change: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: ( see attached schedule) 15.1.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 days: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Compliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: 1 Month: 3 Months: 12 Months: Fiscal Year-to-Date: • The Long-Tenn portfolio lagged the benchmark by 12 basis points for the month, and lagged the benchmark by 4 basis points fiscal year-to-date. • Portfolio duration, below the index, was negative for monthly performance as rates fell across maturities. • Yield curve positioning similar to that of the index was neutral for performance. • An underweight exposure to corporates was positive for performance, as the credit sector underperformed Treasuries on a duration-adjusted basis. • Exposure to mortgage-backed securities was negative for relative performance as the sector slightly underperformed Treasuries on a duration-adjusted basis. • Substit111ing Treasury Inflation Protected Securities for nominal Treasuries was pq.sitrlve as TIPS outperformed nominals during the month. Page 1 of3 $392,740,226 $392,730,278 $386,106,586 $387,086,325 1.96 2.40 $7,697,708 0% 7% AAA 0% No* Portfolio Index 0.44 0.56 1.53 l.66 3.59 3.84 2.11 2.15 *Compliance Issues: MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 31 March 2004) Page 2 o/3 $1 1600,000 pa.r of United Airlines (UAL) Pass-Through 2001-1-C (Enhanced Equipment Trust Certificate (EETC) -909317BC2). 6.831 % coupon, 9/1/2008 maturity, representing 0.41 % of the portfolio holdings on a par basis was purchased on 8/10/200 I; and subsequently downgraded by Moody's from A3 to BAI ( on 9/18/2001) and S&P from A-to BBB (on 9/20/2001). The security was further downgraded by Moody's fromBAl to BA3 (on 12/21/2001) and by S&P from BBB to BB (on 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 shortly thereafter on December 9, 2002, downgraded the issue one notch further to B-. On August 7, 2003, S&P downgraded the issue to CCC+, while Moody's followed suit on August 28, 2003 with a downgrade to CA. 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 ofa split. PIM CO continues to be part of a group that is negotiating directly with the company on behalf of bondholders. PIM CO is still limited in the information they can disclose at this point, as some of the information in the negotiating process is non-public, but they believe that continuing to hold the securities is the best strategy to maximize value. Currently, UAL is awaiting Senate action on pension reform legislation that would substantially reduce (for at least two years) the required contributions to its underfunded pension plans. The legislation, which is more beneficial to single-employe-r pension plans, contains special relief for UAL. Last week, the House of Representatives voted overwhelmingly in favor of the proposed legislation and now the bill awaits Senate vote. Employers are hoping that the bill passes next week. The relief is sought immediately because it would take effect before the next contribution date on April 15. It is possible that the Congressional passage of this legislation could accelerate the ATSB's approval ofUAL's pending request for a federal loan guarantee. The guarantee would backstop $1.6 billion of a $2.0 billion exit-financing package. UAL reported improved operating results for the first two months of 2004. Operating losses year-to-date of $303 million represents an improvement of $335 million over the same period in 2003. Despite the seasonally weak first quarter, cash balances increased $205 million during February to $2.5 billion, of which $654 million is restricted cash. $1,000,000 par of Philip Morris-Altria NT (cusip 718154CB.8). 4/1/2004 maturity, representing 0.26% of the portfolio holdings on a par basis was purchased on 8/6/2001 at a price of 105.26. This security was subsequently downgraded by Moody's from A2 to Baal on 4/01/2003, 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, with at least a BBB rating in the event of a split. In November, PIMCO sold $4,000,000 par (of the $5,000,000 original holding) at a price of 101.9 for a realized loss of$134,400. The Philip Morris USA downgrade activity was a result of a negative court judgment and its associated bonding requirement. In the Miles case, named after the initial plaintiff in the class-action lawsuit, an Illinois court fmed Philip Morris $10.3 billion for allegedly deceiving smokers into thinking that "light" cigarettes were safer than regular cigarettes. The company, now a subsidiary of Altria, has said that the lawsuit was flawed and that it planned to appeal the ruling and the class certification order that preceded it. MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 31 March 2004) Page3 o/3 Prior to the judgment, PIMCO's analysis of Altria (the holding company and issuer of the debt) shows investment grade credit metrics even excluding in its entirety Philip Morris USA (the domestic tobacco subsidiary 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 generate significant cash flow in the interim. On November 24, Philip Morris was found not liable in a case brought by the wife of a man who smoked Marlboro cigarettes and died after developing lung cancer, This case, as well as other recent court rulings have been in Altria's favor and continue to dampen the legal risks faced by the company. PIMCO believes Altria is unlikely to sacrifice good subsidiaries to fund the bad one, which would create a bad precedent for future court cases. PIMCO continues 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 Securities Still In 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. • $3,500,000 par of Ford Motor Credit securities ($2.5 million represented by cusip 345397SJ3 maturing 7/16/04 and $1 million represented by cusip 345397GV9 maturing 5/15/05), representing 0.90% of the portfolio holdings on a par basis. The securities were downgraded on 10/16/2001 by S&P from A to BBB+, then to BBB on 10/25/02, and then to BBB-on 11/13/03. Moody's downgraded the securities on 1/16/02 from A2 to A3. • $3,000,000 par of General Motors Acceptance Corp securities ( cusip 370425SD3) maturing on August 28, 2007, representing 0. 77% 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. • $1,750,000 par of Virginia Electric Power NT securities (cusip 927804EN0), maturing in 2006, represents 0.45% 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. H:\dept\fi11\220\ Geggie\F AHR\~ T0B00-04-03.RPT.doc Asset Summary Report ID: GL8251 . •• @ Base Currency: USD Mellon by Asset Type with Sectors Alternate Base Currency: Exchange Rate: LIQWD OPER-PIMCO -OCSF0751 l 102 3,31,2004 Status: FINAL Net Unrealized Cost Market Value %of Gain/Loss Description Shares Par Base Base Total Base CASH & CASH EQUIVALENTS U.S. DOLLAR INTEREST 251,449.90 251,449.90 0.27% 0.00 FED HM LOAN BNK -LESS THAN 1 YR 13,200,000.000 13,161,643.54 13,161,643.54 14.37% 0.00 FEDERAL HOME LOAN MORTGAGE -LESS THAN 1 YR 10,500,000.000 10,474,902.77 10,474,902.77 11.43% 0.00 FNMA ISSUES -LESS THAN 1 YR 17,500,000.000 17,450,547.79 17,450,547.79 19.05% 0.00 MUTUAL FUNDS l, 04 2,796.460 1,042,796.46 1,042,796.46 1.14% 0.00 REPURCHASE AGREEMENTS 18,200,000.000 18,200,000.00 18,200,000.00 19.87% 0 .00 TREASURY BILLS -LESS THAN 1 YR 23,100,000.000 22,989,043.00 22,989,043.00 25.09% 0.00 U.S. DOLLAR 83,542,796.460 83,570,383.46 83,570,383.46 91.22% 0.00 CASH & CASH EQUIVALENTS 83,542,796.460 83,570,383.46 83,570,383.46 91.22% 0.00 FIXED INCOME SECURITIES U.S. DOLLAR BANKING & FINANCE 6,902,000.000 7,123,874.58 6,945,310.15 7.58% -178,564.43 U.S. AGENCIES 1,100,000.000 1,125,905.00 1,101,174.25 1.20% -24,730.75 U.S. DOLLAR 8,002,000.000 8,249,779.58 8,046,484.40 8.78% -203,295.18 FIXED INCOME SECURITIES 8,002,000.000 8,249,779.58 8,046,484.40 8.78% -203,295.18 TOTAL ASSETS -BASE: 91,544,796.460 91,820,163.04 91,616,867.86 100.00% -203,295.18 4/8/2004 8:13:llAM PDT 1 Workbench @ Mellon LONG TERM OPER-PIMCO -OCSF07522202 Description CASH & CASH EQUIVALENTS U.S. DOLLAR PENDING TRADES INTEREST COMMERCIAL PAPER -DISCOUNT 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 ABS -HOME EQUITY BANKING & FINANCE COLLATERALIZED MORTGAGE OBLIGATION COMM/< FHLMC MULTICLASS FHLMC POOLS FNMA POOLS GNMA MULTI FAMILY POOLS GNMA SINGLE FAMILY POOLS INDUSTRIAL INFLATION INDEXED SECURITIES INSURANCE PVT PLACEMENTS -MORE THN lYR U.S. AGENCIES U.S. GOVERNMENTS UTILITY -ELECTRIC U.S. DOLLAR FIXED INCOME SECURITIES 4/8/2004 8: 15:48AM PDT Asset Summary by Asset Type with Sectors Report ID: GL8251 Base Currency: USD Alternate Base Currency: 3/31/20Jt4 Shares Par 500,000.000 13,500,000.000 1,079,017.300 12,400,000.000 27,479,017.300 27,479,017.300 1,600,000.000 963,373.960 16,700,000.000 2,241,342.070 1,015,139.090 127,068.480 41,750,460.340 3,003,944.840 8,083,887.560 3,000,000.000 34,479,210.000 1,600,000.000 752,000.000 38,056,882.820 190,360,886.080 4,750,000.000 348,484,195.240 348,484,195.240 1 Cost Base Market Value Base -2,839,011.27 -2,839,011.27 3,114,766.96 3,114,766.96 498,338.89 498,338.89 13,459,599.37 13,459,599.37 1,079,017.30 1,079,017.30 12,335,954.54 12,335,954.54 27,648,665.79 27,648,665.79 27,648,665.79 27,648,665.79 1,600,000.00 329,280.00 963,373.96 963,976.07 16,776,633.00 17,379,536.00 2,241,342.07 2,456,398.84 1,016,220.57 1,055,988.29 126,501.16 130,458.90 42,722,325.50 43,213,370.40 2,988,545.92 3,061,849.34 8,193,098.64 8,530,604.51 3,044,880.00 3,020,620.00 34,496,129.79 38,986,935.62 1,594,032.00 1,708,000.00 826,199.84 826,199.84 39,289,828.98 40,424,454.23 198,864,178.18 198,024,852.45 4,694,370.00 4,969,087.50 359,437,659.61 365,081,611.99 359,437,659.61 365,081,611.99 Exchange Rate: Status: FINAL %of Total -0.72% 0.79% 0.13% 3.43% 0.27% 3.14% 7.04% 7.04% 0.08% 0.25% 4.43% 0.63% 0.27% 0.03% 11.00% 0.78% 2.17% 0.77% 9 .93% 0.43% 0.21% 10.29% 50.42% 1.27% 92.96% 92.96% Net Unrealized Gain/Loss B~se 0.00 0.00 0.00 0.00 0.00 0 .00 0.00 0.00 -1,270,720.00 602.11 602,903.00 215,056.77 39,767.72 3,957.74 491,044.90 73,303.42 337,505.87 -24,260.00 4,490,805.83 113,968.00 0.00 1,134,625.25 -839,325.73 274,717.50 5,643,952.38 5,643,952.38 Workbench @ Mellon LONG TERM OPER-PIMCO -OCSF07522202 Description TOTAL ASSETS -BASE: 4/8/2004 8: l 5:48AM PDT Asset Summary by Asset Type with Sectors 3/31/20~04 Shares Par 375,963,212.540 Cost Base 387,086,325.40 ========= 2 Report ID: GL8251 • Base Currency: USD Alternate Base Currency: Market Value Base 392,730,277.78 ======== Exchange Rate: Status: FINAL %of Total 100.00% .Net Unrealized Gahl/Loss Base 5,643,952.38 • Workbench YLOANAL OCSF07511l02 DISTRICT: LIQUID OPERATING YIELD ANALYSIS 2004/03/31 PAGE RUN DATE RUN TIME 1 04/06/04 11.04.29 ------. ---·-==-=-========--. === .. ==...:..:::.•==-=--== ======----------. -------=--==-------------=--------====-----====================- PAR VALUE SECURITY IO SECURITY DESCRIPTION CASH & CASH EQUIVALENTS 2,500,000.00 313384WL9 2,000,000.00 313384XA2 1,100,000.00 313384XH7 3,000,000.00 313384XKO 4,000,000.00 313384XQ7 2,500,000.00 313396WK5 6,000,000.00 313396WZ2 2,000,000.00 313396XG3 6,500,000.00 313588WT8 9,000,000.00 313588XA8 2,000,000.00 313588XQ3 23,100,000.00 912795QW4 FEDERAL HOME LN BKS CONS DISC MAT 05/05/2004 FEDERAL HOME LN BK CONS DISC MAT 05/19/2004 FEDERAL HOME LN BK CONS DISC N MAT 05/26/2004 FEDERAL HOME LN BK CONS DISC N MAT 05/28/2004 FEDERAL HOME LN BK CONS DISC N MAT 06/02/2004 FEDERAL HOME LN MTG CORP DISC MAT 5/4/2004 FEDERAL HOME LN MTG CORP DISC MAT 05/18/2004 FEDERAL HOME LN MTG CORP DISC MAT 05/25/2004 FEDERAL NATL MTG ASSN DISCOUNT MAT 05/12/2004 FEDERAL NATL MTG ASSN DISCOUNT MAT 05/19/2004 FEDERAL NATL MTG ASSN DISCOUNT MAT 06/02/2004 US TREASURY BILL DUE 08/05/2004 DD 02/05/2004 10,200,000.00 CREDIT SUISSE FB REPO 99418J221 00.920% 04/01/2004 DO 03/31/04 YTM AT BOOK .ooo .ooo .ooo ,000 .ooo .ooo .ooo .ooo .ooo .ooo .ooo .ooo .ooo CURRENT MOODY MARKET YIELD S-P PRICE .000 .000 .000 .000 .ooo .ooo .000 .000 .000 .000 .000 .000 .920 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+ P-1 A-1+ P-1 A-1+ P-1 A-1+ 99,743 99.431 99.747 99.758 99.775 99.745 99.772 99.747 99.753 99.681 99.766 99.520 100.000 TOTAL COST/ MARKET VALUE 2,493,585.76 2,493,585.76 1,988,625.00 1,988,625.00 1,695,702.78 1,695,702.78 2,992,750.00 2,992,750.00 3,990,980.00 3,990,980.00 2,493,625.00 2,493,625.00 5,986,333.33 5,986,333.33 1,994,944.44 1,994,944.44 6,483,930.56 6,483,930.56 8,971,301.67 8,971,301.67 1,995,315.56 1,995,315.56 22,989,043.00 22,989,043.00 10,200,000.00 10,200,000.00 % TYPE % TOTAL 2.99 2.73 2.38 2.18 2.03 1. 86 3.59 3.28 4. 79 4.37 2.99 2.73 7.18 6.55 2.39 2.18 7.78 7.10 10.76 9.82 2. 39 2.18 27.59 25.16 21.84 19.92 YLDANAL YIELD ANALYSIS PAGE 2 OCSF07511102 2004/03/31 RUN DATE 04/06/04 DISTRICT: LIQUID OPERATING RUN TIME 11.04.29 ====-==-===-===-==.=================================:==~=~ --====----=-=-===----=-=~===·=--==-=-=========::: PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE I TOTAL --------------------------------------------------------------------------------------------- 1,042,796.46 DREYFUS TREASURY CASH MGMT .000 .819 AAA 100.000 1,042,796.46 1.25 996085247 AAA 1,042,796.46 1.14 ------------------------------------ TOTAL CASH & CASH EQUIVALENTS .000 .079 83,318,933.56 100.00 83,318,933.56 91.20 FIXED INCOME SECURITIES 100,000.00 ASSOCIATES CORP NA MTN SR00043 .000 7. 777 AAl 101.843 104,199.00 1.26 045906BU7 7.9201 07/13/2004 DD 07/13/94 AA-101,843.00 .11 1,000,000.00 ASSOCIATES CORP NORTH AMER .000 5.788 AAl 100,203 1,041,290.00 12.45 046003KA6 5.8001 04/20/2004 DD 04/20/99 AA-1,002,030,00 1.10 soo,000.00 BANK OF AMERICA CORP SR GBL NT .000 6.554 AA2 101.078 518,385.00 6.28 066050CW3 6.625% 06/15/2004 DD 06/15/99 A+ 505,390.00 .55 1,100,000.00 FEDERAL HOME LN MTG CORP DEB .ODO 3.746 AAA 100.107 1,125,905.00 13.68 3134A4PH1 3.750% 04/15/2004 DD 04/15/02 AAA 1,101,174.25 1.21 180,000.00 GENERAL ELEC CAP MTN fTR 00448 .000 7.216 AAA 100.468 183,801.60 2.24 36962GUR3 7.250% 05/03/2004 DD 05/01/00 AAA 180,842.40 .20 1,000,000.00 GENERAL ELEC CAP MTN ITR 00545 .000 1.210 AAA 100.031 1,001,089.00 12.43 36962GYS7 VAR RT 05/20/2004 DD 05/20/02 AAA 1,000,310.00 1.09 1,000,000.00 LEHMAN BROS HLDGS INC .ODO 6.625 Al 100.000 1,045,590.00 12.42 524908BZ2 6.625% 04/01/2004 DD 03/26/99 A 1,000,000.00 1.09 250,000.00 NCNB TEX NATL BK DALLAS TEX NT .000 9.381 AA2 101.265 260,870.00 3.14 628857DJO 9.500% 06/01/2004 DD 06/01/89 A+ 253,162.50 .28 600,000.00 NATIONSBANK CORP .000 7.576 AAJ 102 .296 615,546.00 7.62 638585AJ8 7.750% 08/15/2004 A 613,776.00 .67 627,000.00 NATIONSBANK CORP SR NTS .000 6 .042 AA2 101.375 646,650.18 7.89 638585BJ7 6.125% 07/15/2004 DD 07/23/98 A+ 635,621.25 .70 520,000.00 NORWEST FINL INC NTS .000 7.200 AAl 100.000 531,53B.80 6.46 669383DG3 7.200% 04/01/2004 DD 04/07/97 AA-520,000.00 .57 YLDANAL OCSF07511l02 DISTRICT: LIQUID OPERATING YIELD ANALYSIS 2004/03/31 PAGE RUN DATE RUN TIME 3 04/06/04 11.04.29 --------------==---===---=-==----==-----==-----------------------==-----------=-----==--=-===-=============================== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE I TOTAL --------------------------------------------------------------------------------------------- 1,000,000.00 US BANCORP MTN tTR 00119 . 000 5.967 AA3 100.546 1,046,310.00 12.49 91159HEY2 6.000% 05/15/2004 DD 05/10/99 A+ 1,005,460,00 1.10 125,000.00 WELLS FARGO, CO NEW NT . 000 6.527 AAl 101.500 128,605.00 1.57 949746AA9 6,625% 07/15/2004 DD 07/28/99 AA-126,875,00 .14 -----------------·-----------·-----·----- TOTAL FIXED INCOME SECURITIES • 000 5.269 8,249,779.58 100.00 8,046,484.40 8.81 ------------·---------------------------TOTAL .ooo .682 91,568,713,14 100.00 91,365,417.96 100.00 ---------------------- YLDANAL YIELD ANALYSIS PAGE 4 OCSF07522202 2004/03/31 RUN DATE 04/06/04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04.29 -----------------------------------------------------------------------------------------=-----===========-================== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ----------------------------------·------·-----------------------·--------------------- CASH & CASH EQUIVALENTS 600,000.00 FEDERAL NATL MTG ASSN DISCOUNT • 000 .000 P-1 99.750 598,500.00 2.18 313588XA8 HAT 05/19/2004 A-1+ 598,500.00 ,15 500,000.00 FEDERAL NATL MTG ASSN DISCOUNT • 000 .000 P-1 99.829 499,147.50 1. 82 313588XB6 HAT 05/20/2004 A-1+ 499,147,50 .13 J,600,000 .00 FEDERAL NATL MTG ASSN DISCOUNT .ooo .000 P-1 99.745 3,590,809.00 13.11 Jl3588XQ3 MAT 06/02/2004 A-1+ 3,590,809.00 . 91 B,B00,000.00 FEDERAL NATL MTG ASSN DISCOUNT .ooo .000 P-1 99,672 8,771,142.87 32.04 313588YV1 HAT 07/01/2004 A-1+ 8,771,142.87 2,23 500,ooo.oo GENERAL ELEC CAP DISC .ooo ,000 P-1 99.668 498,338.89 1.82 36959HG84 07/08/2004 498,338.89 .13 a,000,000.00 US TREASURY BILL .ooo .000 P-1 99.484 7,958,746.66 29.07 912795PW5 0.000% 04/29/2004 DD 10/30/03 A-1+ 7,958,746.66 2,03 4,400,000.00 US TREASURY BILL .ooo .ooo P-1 99.482 4,377,207.88 15.99 912795PX3 0.000% 05/06/2004 DD 11/06/03 A-1+ 4,377,207.99 1.12 1,079,017.30 DREYFUS TREASURY CASH MGMT .ooo .819 AAA 100.000 1,079,017.30 3.94 996085247 AAA 1,079,017.30 .27 ~------------------------------------------ TOTAL CASH & CASH EQUIVALENTS .ooo .008 27,372,910.10 100.00 27,372,910.10 6.97 FIXED INCOME SECURITIES 752,000.00 AIG SUNAHERICA GLOBAL REGS .ooo 5,325 109.867 826,199.94 .22 U00907AAO 5.850% 08/01/2008 DD 08/08/01 826,199.84 ,21 2,800,000.00 COMMIT TO PUR FNMA SF MTG .ooo 5,369 AAA 102.438 2,875,250.00 . 78 OlF052649 5.500% 04/01/2034 DD 04/01/04 AAA 2,868,250.00 .73 1,500,000.00 CIT GROUP INC NEW SR NT .ooo 5.060 A2 108.703 1,527,135.00 ,44 125581ADO 5,500% 11/30/2007 DD 12/02/02 A 1,630,545.00 .42 50,917.91 FHLMC GROUP IG4-0353 .ooo 7,432 AAA 100.912 52,206.77 .01 3128DBHA2 7.500% 10/01/2004 DD 03/01/99 AAA 51,382.37 .01 YLDANAL YIELD ANALYSIS PAGE 5 OCSF07522202 2004/03/31 RUN DATE 04 /06 /04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04 .29 ------------=-----==-=---=--==--------=-------=----=---------===------====---=====----====---==============================-= PAR VALUE YT M AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL --·---------------------------------------------------------------------------------------- 7,500,000.00 FEDERAL HOME LN BK CONS BDS ,000 6.780 AAA 105.082 7,997,625.00 2.15 3133MAUN7 7.125% 02/15/2005 DD 02/08/00 AAA 7,881,122.25 2.01 76,150.57 FHLMC GROUP '78-6064 .ooo 3.262 AAA 103.842 74,294.39 .02 31348SWZ3 6.384% 01/01/2028 DD 12/01/97 AAA 79,076.53 .02 11,350,000.00 FEDERAL NATL MTG ASSN DEBS .ooo 4.894 AAA 107.267 11,521,271.50 3.33 31359MJX2 5.250% 06/15/2006 DD 06/22/01 AAA 12,174,855.58 3.10 803,849.48 FNMA POOL 10254510 .ooo 4.847 AAA 103.160 827,964.96 .22 31371KVB4 5.000% 11/01/2017 DD 10/01/02 AAA 829,252.41 .21 171,411.27 FNMA POOL 10254631 .000 4.847 AAA 103.160 176,553.61 .04 31371KY47 5.000% 02/01/2018 OD 01/01/03 AAA 176,828.14 .05 154,118.90 FNMA POOL 10254760 .ooo 4.844 AAA 103.223 158,742.46 .04 31371K5V9 5.000% 06/01/2018 DO 05/01/03 AAA 159,085.63 .04 67,822.73 FNMA POOL 10254866 .000 4.844 AAA 103.223 69,857.42 .01 31371LCB3 5.000% 09/01/2018 OD 08/01/03 AAA 70,008.43 .02 357,031.18 FNMA POOL 10254953 .000 4.844 AAA 103.223 361,605.65 .10 31371LE21 5,000% 11/01/2018 DD 10/01/03 AAA 368,537.08 .09 967,177.H FNMA POOL 10254987 ,000 4.858 AAA 102. 932 979,569.69 .27 31371LF46 5 .000% 12/01/2018 DD 11/01/03 AAA 995,537.03 .25 192,417.27 FNMA POOL 10323980 .000 5.675 AAA 105.727 200,895.65 .05 31374T2MO 6,0001 04/01/2014 OD 09/01/99 AAA 203,436.16 .05 30,286.76 FNMA POOL 10357328 .ooo 4.857 AAA 102.953 31,195.36 .oo 31376J4H8 5 ,000% 01/01/2018 DD 01/01/03 AAA 31,181.06 .01 1,544,014.91 FNMA POOL 10357430 .ooo 4 .854 AAA 103.004 1,561,385.09 • 43 31376KA71 5,000% 09/01/2018 OD 09/01/03 AAA 1,590,395.73 • 41 60,341.64 FNMA POOL 10456482 .ooo 5.675 AAA 105.727 63,000.44 • 01 31381CCT2 6.0001 02/01/2014 DO 02/01/99 AAA 63,797.14 .02 148,561.08 FNMA POOL 10509649 .ooo 5.675 AAA 105.727 155,107.06 .04 31383QEWO 6 .000% 09/01/2014 DD 09/01/99 AAA 157,068.52 .04 152,452.95 FNMA POOL 10535451 .ooo 5.682 AAA 105.602 159,170.41 .04 31384VZQ8 6.0001 06/01/2015 DD 07/01/00 AAA 160,992.69 .04 YLDANAL YIELD ANALYSIS PAGE 6 OCSF07522202 2004/03/31 RUN DATE 04/06/04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04.29 ---------------========-=== ---======---!:.=-=-======================= ·===::·=-=====-==-==-=-==--=-==---~- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION SOOK YIELD S-P PRICE MARKET VALUE % TOTAL --------------------------------------------------------------------------------·----------- 3,278,934.53 FNMA POOL 10535672 .ooo 5.675 AAA 105.727 3,423,412.60 .94 31384WCH1 6.000% 01/01/2016 DD 12/01/00 AAA 3,466,704.68 .ea 1,060,143.49 FNMA POOL 10545296 .ooo 5.678 AAA 105.664 1,106,856.06 • 30 31385HXZO 6.000% 11/01/2016 DD 10/01/01 AAA 1,120,190.65 .29 88,344.73 FNMA POOL 10545580 .ooo 5.658 AAA 106.039 92,237.41 .02 31385JCR7 6,000% 03/01/2017 DD 03/01/02 AAA 93,679.92 .02 161,536.34 FNMA POOL 10555101 .ooo 5.665 AAA 105.914 168,654.02 .04 31385WU23 6.000% 10/01/2017 DD 11/01/02 AAA 171,089.70 .04 368,911.79 FNMA POOL 10555363 .ooo 4.B54 AAA 103.004 379,979.14 .10 313B5W5Yl 5.000% 04/01/2018 DD 03/01/03 AAA 379,993.57 .10 37,884.12 FNMA POOL 10555453 .ooo 4.847 AAA 103.160 38,369.51 .01 313B5XBW6 5,000% 05/01/2018 DD 04/01/03 AAA 39,081.32 .01 307,445.74 FNMA POOL 10555545 .000 4.854 AAA 103.004 316,669.12 .OB 31385XES2 5.000% 06/01/2018 DD 05/01/03 AAA 316,681.13 .08 1,065,954.33 FNMA POOL 10555621 .ooo 4.858 AAA 102.932 1,077,946.31 .JO 31385XG68 5.000% 07/01/2018 DD 06/01/03 AAA 1,097,209.93 .28 63,908.17 FNMA POOL 10576386 .ooo 5.698 AAA 105.301 66,724.12 ,01 31386XJ72 6.000% 05/01/2016 DD 05/01/01 AAA 67,296.15 .02 151,190.02 FNMA POOL 10576739 .ooo 5.665 AAA 105.914 157,851.83 ,04 31386XV86 6.000% 04/01/2016 DD 04/01/01 AAA 160,131.49 .04 213,871.90 FNMA POOL 10580888 .ooo 5.658 AAA 106.039 223,295.62 .06 31387DJ91 6.000% 05/01/2016 DD 05/01/01 AAA 226,787.75 .06 163,178.63 FNMA POOL 10594002 .ooo 5.678 AAA 105.664 170,368.68 .04 313B7T3:KB 6.000% 07/01/2016 DD 07/01/01 AAA 172,421.17 .04 232,066.77 FNMA POOL 10597376 .ooo 5.67B AAA 105.664 242,292.21 .06 Jl3B7XT96 6.000% 09/01/2016 DD 08/01/01 AAA 245,211.17 .06 137,840.23 FNMA POOL 10605259 .ooo 5.67B AAA 105.664 143,913.82 .03 313B BHMGl 6.000% 09/01/2016 DD 09/01/01 AAA 145,647.58 .04 86,130.19 FNMA POOL 10608366 • 00 0 5.678 AAA 105.664 89,925.30 .02 313B8LZ78 6.000% 10/01/2016 DD 09/01/01 AAA 91,008.66 .02 YLDANAL YIELD ANALYSIS PAGE 7 OCSF07522202 2004/03/31 RUN DATE 04 /06 /04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04,29 --------------=======-----=-=-------=-======~=====-=~:=------==-==============================----==-=----=------------------ PAR VALUE YTH AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ------------------------------------------------------------------------------------------- 168,429.97 FNMA POOL 10616 7 34 .ooo 5.652 AAA 106.164 175,851.41 .04 31388WEF9 6.000% 12/01/2016 DD 12/01/01 AAA 178,812,09 ,05 159,806.24 FNMA POOL 10630812 .ooo 5.697 AAA 105.323 166,847.70 .04 31389NYH2 6.000% 02/01/2017 DD 02/01/02 AAA 168,312.08 .04 771,604.77 FNMA POOL 10632376 .ooo 5.665 AAA 105.914 805,603.62 .22 3l389QQ50 6,000% 07/01/2017 DD 07/01/02 AAA 817,237.94 .21 439,281.71 FNMA POOL 10653116 .ooo 5.665 AAA 105.914 458,637.56 .12 31390QSD8 6.000% 07/01/2017 DD 07/01/02 AAA 465,261.09 .12 186,481.45 FNMA POOL 10673280 .ooo 5.665 AAA 105.914 194,698.29 .05 31391P6R2 6.000% 08/01/2017 DD 11/01/02 AAA 197,510.07 .os 557,907.17 FNMA POOL 10681309 .ooo 4.854 AAA 103.004 574,644.38 .15 31391Y3S4 5.000% 02/01/2018 DD 02/01/03 AAA 574,666.20 .15 69,784.18 FNMA POOL 10681334 .ooo 4.854 AAA 103.004 71,877.70 .01 Jl391Y4Tl 5.000% 02/01/2018 DD 01/01/03 AAA 71,880.43 .02 346,982.23 FNMA POOL 10684908 .000 4,847 AAA 103.160 351,427.94 .09 31400D3Rl 5,000% 06/01/2018 DD 05/01/03 AAA 357,947.42 .09 196,909.15 FNMA POOL 10685200 .ooo 4.854 AAA 103.004 199,432.06 .05 31400EGH7 5.000% 03/01/2018 DD 03/01/03 AAA 202,824.12 ,05 35,411.02 FNMA POOL 10685665 .000 4,854 AAA 103.004 36,473.35 .00 31400EW22 5.000% 02/01/2018 DD 02/01/03 AAA 36,474.74 .01 299,409.16 FNMA POOL t0686318 .000 4.854 AAA 103.004 308,391.43 .08 31400FPB7 5.000% 03/01/2018 DD 03/01/03 AAA 308,403.14 .08 116,331.81 FNMA POOL 10688139 .ooo 4.854 AAA 103.004 119,821.76 .03 31400JEL9 5.000% 06/01/2018 DD 06/01/03 AAA 119,826.31 .03 119,332,89 FNMA POOL 10689859 .ooo 4,844 AAA 103.223 120,861.84 .03 31400KMG8 5.000% 05/01/2018 DD 05/01/03 AAA 123,178.58 .03 715,269.33 FNMA POOL 10693834 .ooo 4,854 AAA 103. 004 736,727.41 .20 31400PY74 5.000% 03/01/2018 DD 03/01/03 AAA 736,755.38 ,19 261,890.42 FNMA POOL 10695852 .ooo 4.854 AAA 103.004 269,747.13 .07 31400SBVO 5,000% 05/01/2018 DD 05/01/03 AAA 269,757.37 .07 YLDANAL YIELD ANALYSIS PAGE 8 OCSF07522202 2004/03/31 RUN DATE 04 /06 /04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04.29 ----------------=---======-==-----=====--=============----================-------=-============== PAR VALUE 'iTH AT CURRENT MOODY MARl<ET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION 8001( YIELD S-P PRICE MARKET VALUE % TOTAL --------------------------·---------.------·------------------------------------------------------ 815,674.08 FNMA POOL 10695889 .ooo 4.854 AAA 103.004 840,144.30 .23 31400SC23 5,000% 05/01/2018 DD 05/01/03 AAA 840,176.20 ,21 25,670.71 FNMA POOL 10697026 .ooo 4.854 AAA 103.004 26,440.85 .oo 31400TLF2 5.000% 05/01/2018 DD 04/01/03 AAA 26,441.84 .01 90,452.55 FNMA POOL 10698939 .000 5.658 AAA 106,039 94,438.12 .02 31400VPY2 6.000% 09/01/2017 DD 03/01/03 AAA 95,915.03 .02 260,477.71 FNMA POOL 10702210 .ooo 4.858 AAA 102 .932 268,292.04 .07 31401ADP9 5.000% 05/01/2018 DD 05/01/03 AAA 268,115.36 .07 145,689.05 FNMA POOL 10702328 .ooo 4.854 AAA 103,004 147,555.70 .04 31401AHD2 5.000% 05/01/2018 DD 04/01/03 AAA 150,065.42 .04 77,242.94 FNMA POOL 10703195 .ooo 5 .668 AAA 105.852 80,646.46 .02 31401BGC3 6.000% 01/01/2017 DD 04/01/03 AAA 81,762.86 .02 295,651.93 FNMA POOL 10709148 .ooo 4.854 AAA 103.004 304,521.49 .00 31401HZM7 5.000% 06/01/2018 DD 06/01/03 AAA 304,533.05 .08 688,069.30 FNMA POOL 10709360 .000 4.844 AAA 103.223 696,885.20 ,19 31401JB56 5.000% 07/01/2018 DD 06/01/03 AAA 710,243.43 .18 135,927,88 FNMA POOL 10709826 .ooo 4.854 AAA 103.004 137,669.45 .OJ 31401JSP4 5.000% 06/01/2018 DD 06/01/03 AAA 140,0ll,OJ .04 258,385.05 FNMA POOL 10709917 .ooo 4.854 AAA 103.004 261,695.60 .07 31401JVJ4 5.000% 06/01/2018 DD 06/01/03 AAA 266,146.70 .07 26,357.17 FNMA POOL 10709963 .000 4.858 AAA 102.932 26,694.88 .oo 31401JWYO 5.000% 06/01/2018 DD 06/01/03 AAA 27,130.01 .01 765,590.59 FNMA POOL 10710235 .000 4.854 AAA 103.004 788,558.32 . 21 31401KBC8 5.000% 06/01/2018 DD 06/01/03 AAA 788,588.24 .20 23,899.09 FNMA POOL 10713344 .000 4.854 AAA 103.004 24,616.05 .00 31401NP52 5.000% 06/01/2018 DD 06/01/03 AAA 24,617.00 .01 323,167.81 FNMA POOL 10713365 .ooo 4.854 AAA 103.004 327,308.40 .09 31401NQS1 5.000% 07/01/2018 DD 07/01/03 AAA 332,875.48 .08 891,832.60 FNMA POOL 10720319 .ooo 4,854 AAA 103,004 903,259.20 .25 31401WG45 5,000% 07/01/2018 DD 07/01/03 AAA 918,622.45 ,23 YLDANAL YIELD ANALYSIS PAGE 9 OCSF07522202 2004/03/31 RUN DATE 04/06/04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04.29 -------==------=-==-==------===-==---------====-------------------=-=====-----========------=============================---= PAR VALUE YTH AT CURRENT MOODY HARICET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARltET VALUE I TOTAL ----------------------------------------------------------------------------------------------·--- 2,380,561.51 FNMA POOL 10720369 .000 4.858 AAA 102.932 2,451,978.36 .67 31401WJNO 5,0001 06/01/2018 DD 06/01/03 AAA 2,450,363.64 .62 306,069.73 FNMA POOL 10721629 .ooo 4.835 AAA 103.410 315,251.83 .00 31401XVW4 5.0001 07/01/2018 DD 06/01/03 AAA 316,507,20 .08 250,321.15 FNMA POOL 10723487 .ooo 4,854 AAA 103,004 253,137.27 .07 31402AXQ4 5,0001 06/01/2018 DD 06/01/03 AAA 257,840.57 .07 417,487.21 FNMA POOL f0729601 .ooo 4 .844 AAA 103,223 422,836,27 .11 31402RRW3 5,0001 07/01/2018 DD 07/01/03 AAA 430,941.40 .11 36,173.18 FNMA POOL 10732873 .ooo 4.838 AAA 103.348 36,636.64 .01 31402MFN5 5,0001 11/01/2018 DD 10/01/03 AAA 37,384, 14 .01 730,063.69 FNMA POOL 10737130 .ooo 4,844 AAA 103.223 739,417.63 .20 31402S4P9 5,0001 10/01/2018 DD 10/01/03 AAA 753,591.16 .19 576,944.79 FNMA POOL 10738211 .ooo 4,858 AAA 102,932 584,336,91 ,16 31402UDQ2 5.0001 10/01/2018 DD 10/01/03 AAA 593,861,80 ,15 215,799.15 FNMA POOL 10738487 .ooo 4.854 AAA 103.004 218,564,07 ,06 31402UNC2 5,0001 10/01/2018 DD 10/01/03 AAA 222,281.56 .06 691,271.15 FNMA POOL 10740471 .ooo 4,858 AAA 102,932 700,128.05 .19 31402WT40 5,0001 10/01/2018 DD 10/01/03 AAA 711,540,40 ,19 . 820,597.82 FNMA POOL 10740748 .ooo 4,854 AAA 103.004 831,111.72 .23 31402W5R7 5,0001 10/01/2018 DD 11/01/03 AAA 845,247,84 ,22 43,335.92 FNMA POOL 10743868 .ooo 4,858 AAA 102,932 43,891.16 .01 31403BHR1 5,0001 11/01/2018 DD 10/01/03 AAA 44,606.60 .01 1,137,791.08 FNMA POOL 10744008 .ooo 4,854 AAA 103,004 1,152,369.02 .32 31403BRS4 5,0001 07/01/2018 DD 09/01/03 AAA 1,171,969.30 .30 168,300.65 FNMA POOL 10744316 .ooo 4.858 AAA 102.932 170,457.01 .04 3140383Z4 5,0001 09/01/2018 DD 09/01/03 AAA 173,235,51 .04 358,341.36 FNMA POOL 10747914 .ooo 4.854 AAA 103.004 362,932.62 .10 31403F3XO 5,0001 11/01/2018 DD 11/01/03 AAA 369,105, 61 .09 241,353,53 FNMA POOL 10748400 .ooo 4,858 AAA 102,932 244,445.88 .06 31403GNR9 5,0001 08/01/2018 DD 09/01/03 AAA 248,430.43 ,06 YLDANAL YIELD ANALYSIS PAGE 10 OCSF07522202 2004/03/31 RUN DATE 04/06/04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04.29 -------------------------------------------------------------=======-----==================================================== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE I TOTAL ----------------------------------------------------------------------------------------------- 1,016,121.71 FNMA POOL 10748899 .ooo 4,859 AAA 102,902 1,029,140.76 .28 31403G7LO 5,0001 12/01/2018 DD 11/01/03 AAA 1,045,610.58 .27 2,5ll,009.62 FNMA POOL 10750377 .000 4.859 AAA 102.902 2,543,181.93 ,70 31403JUA2 5 ,0001 11/01/2018 DD 11/01/03 AAA 2,583,881.63 ,66 2,067,507.55 FNMA POOL 10750380 .ooo 4,859 AAA 102.902 2,093,997.51 ,58 31403JUD6 5,0001 11/01/2018 DD 11/01/03 AAA 2,127,508.69 .54 191,850.62 FNMA POOL 10750445 .ooo 4,859 AAA 102,902 194,308.70 .05 31403JWE2 5,0001 11/01/2018 DD 11/01/03 AAA 197,418.32 ,05 886,983.01 FNMA POOL 10751960 .000 4.858 AAA 102,932 898,347,48 .25 31403LMH1 5.0001 12/01/2018 DD 11/01/03 AAA 912,990.87 .23 956,360.34 FNMA POOL 10753425 .000 4.854 AAA 103.004 967,418.25 .26 31403NA23 5.0001 11/01/2018 DD 11/01/03 AAA 985,088.54 ,25 626,778.88 FNMA POOL 10755165 .ooo 4 .844 AAA 103.223 634,809.48 ,17 31403Q6A3 5,0001 12/01/2018 DD 11/01/03 AAA 646,977.83 ,16 983,689.85 FNMA POOL 10756372 .000 4.844 AAA 103,223 995,063.76 .27 31403SJR8 5.0001 11/01/2018 DD 11/01/03 AAA 1,015,390.83 .26 297,905.26 GNMA POOL 10596612 .ooo 6.138 AAA 105.891 312,660.87 .00 36200BYH4 6.5001 09/15/2032 DD 09/01/02 AAA 315,453.73 .08 1,055,308.12 GNMA POOL 10569358 .ooo 6.160 AAA 105,524 l,OB0,041,90 .30 36200QQK3 6.5001 04/15/2032 DD 04/01/02 AAA 1,ll3,60L81 .28 45,625.27 GNHA POOL 10569685 .000 6,138 AAA 105,891 47,885.14 .01 36200Q2S2 6.5001 02/15/2032 DD 02/01/02 AAA 48,312.88 .01 78,367.74 GNMA POOL 10570019 .ooo 6 .138 AAA 105.891 82,249.40 .02 36200RG48 6 .5001 07/15/2032 DD 07/01/02 AAA 82,984.09 .02 435,105.55 GNMA POOL 10574323 .000 6.138 AAA 105.891 456,656.88 .12 36200WAY7 6,5001 12/15/2031 DD 12/01/01 AAA 460,735.96 .12 44,315.46 GNMA POOL 10575364 .ooo 6 .138 AAA 105,891 46,510.46 .01 36200XFD6 6,5001 11/15/2031 DD 11/01/01 AAA 46,925.92 .01 19,200.94 GNMA POOL 10587 ll 7 .000 6 .138 AAA 105.891 20,151.99 .oo 36201MG22 6.5001 06/15/2032 DD 06/01/02 AAA 20,331.99 .01 YLDANAL YIELD ANALYSIS PAGE : 11 OCSF07522202 2004/03/31 RUN DATE 04/06/04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04.29 ------------====~=-=-=-. -===;======-============--==-======================================================----=------- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE I TOTAL ---------------------------------------------------------------------------------------------- 55,770.44 GNMA POOL 10587439 .ooo 6.140 AAA 105.859 58,532.81 .01 36201MS45 6.500% 11/15/2032 DD 12/01/02 AAA 59,038.24 .02 13,563.09 GNMA POOL 10421389 .ooo 6 .119 AAA 106.234 14,234.90 .oo 36206UC23 6.500% 04/15/2026 DD 04/01/96 AAA 14,408.66 .oo 22,798.13 GNMA POOL 10449851 ,000 6,151 AAA 105.677 23,927.35 .oo 36208FWLO 6,500% 01/15/2028 DD 01/01/98 AAA 24,092.37 .01 57,238 .08 GNMA POOL 10466845 ,000 6.126 AAA 106,109 60,073.15 .01 36209BTA6 6.500% 06/15/2028 DD 06/01/98 AAA 60,734.97 .02 112,792.86 GNMA POOL 10468052 .ooo 6,126 AAA 106,109 118,379,64 ,03 36209C5H4 6.500% 07/15/2028 DD 07/01/98 AAA 119,683.80 .03 173,436.16 GNMA POOL 10476041 ,000 6,126 AAA 106.109 181,755.68 .05 36209HZE7 6.500% 06/15/2028 DD 06/01/98 AAA 184,032.03 .05 163,642.52 GNMA POOL 10478626 .ooo 6,126 AAA 106.109 171,492.25 .04 36209QVT9 6.500% 01/15/2029 DD 01/01/99 AAA 173,640,06 .04 122,664 .99 GNMA POOL 10480598 ,000 6,126 AAA 106.109 128,549.08 .03 36209S3F6 6.500% 10/15/2028 DD 10/01/98 AAA 130,159,06 .03 413,548.04 GNMA POOL 10485527 .ooo 6.138 AAA 105,891 434,031.60 .11 36209YLG1 6.500% 06/15/2031 DD 06/01/01 AAA 437,908.58 .11 -456,736.08 GNMA POOL 10485610 .000 6.138 AAA 105.891 479,358.79 .13 36209YN38 6.500% 07/15/2031 DD 07/01/01 AAA 483,640.67 .12 88,433.90 GNMA POOL 10485682 .000 6.138 AAA 105.891 92,814.14 .02 36209YRB6 6.500% 08/15/2031 DD 08/01/01 AAA 93,643.21 .02 72,697.57 GNMA POOL 10485703 .000 6.138 AAA 105.891 76,298.37 .02 36209YRY6 6.500% 08/15/2031 DD 08/01/01 AAA 76,979.91 .02 10,887.03 GNHA POOL 10512235 .000 6.131 AAA 106.016 11,426.27 .oo 36211GBC6 6.500% 11/15/2029 DD 11/01/99 AAA 11,541.95 .oo 141,394.81 GNHA POOL 10514326 .ooo 6 .131 AAA 106.016 148,177.34 .04 36211JLF2 6.500% 07/15/2029 DD 07/01/99 AAA 149,900.58 .04 46,750.56 GNMA POOL 10530053 .ooo 6.159 AAA 105.529 49,066.18 .01 36212CZS3 6.500% 04/15/2031 DD 04/01/01 AAA 49,335.53 .01 YLDANAL YIELD ANALYSIS PAGE 12 OCSF07522202 2004/03/31 RUN DATE 04/06/04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04. 29 ----------------------==-----------------------====---------======-===============================--------------======--===== PAR VALUE YTH AT CURRENT MOODY MARl(ET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ------------------------------------------------------------------------------------------------- 104,672.66 GNMA POOL 10537885 .ooo 6.138 AAA 105.891 109,857.22 .03 36212HRE1 6.500% 02/15/2031 DD 02/01/01 AAA 110,838.53 .OJ 10,909.50 GNMA POOL 10547512 .000 6.138 AAA 105.891 11,449.87 .oo 36212YGV9 6,500% 04/15/2031 DD 04/01/01 AAA 11,552.14 .oo 127,835.97 GNMA POOL 10547715 .000 6.138 AAA 105.891 133,968.10 .03 36212YNB2 6,500% 02/15/2031 DD 02/01/01 AAA 135,366.30 .03 66,498.41 GNMA POOL 10552322 .000 6.138 AAA 105.891 69,792.16 .01 36213ESK3 6.500% 01/15/2032 DD 01/01/02 AAA 70,415.58 .02 478,961.86 GNMA POOL 10552466 .000 6.160 AAA 105.524 502,685.45 .13 36213EW36 6,500% 03/15/2032 DD 03/01/02 AAA 505,419.02 .13 390,297.17 GNMA POOL 10552659 .000 6 .138 AAA 105.891 409,629.06 .11 36213E5U6 6.500% 07/15/2032 DD 07/01/02 AAA 413,288.09 .ll 359,527.30 GNMA POOL 10561017 .000 6.138 AAA 105.891 377,335.13 .10 36213QG29 6.500% 07/15/2031 DD 07/01/01 AAA 380,705.69 .10 253,532.74 GNMA II POOL 10080395 .ooo 3.437 AAA 101. 844 251,235.10 .07 36225CNH4 VAR RT 04/20/2030 DD 04/01/00 AAA 258,209.02 ,07 2,252,721.51 GNMA II POOL IOB0408X .ooo 3.437 AAA 101.843 2,229,842.31 .62 36225CN28 6.500% 05/20/2030 DD 05/01/00 AAA 2,294,247.05 .so " 1,000,000.00 GENERAL MTRS ACCEP CORP SR NT .ooo 5.684 Al 107 .765 3,064,350.00 .88 370425SD3 6.125% 08/28/2007 DD 08/29/02 BBB 3,232,950.00 .82 1,000,000.00 GOLDMAN SACHS GROUP INC SR NT .ooo 3.953 AA3 104 .359 3,030,030.00 .85 38141GCS1 4,125% 01/15/2008 DD 01/13/03 A+ 3,130,770.00 .so 1,200,000.00 HORGAN STANLEY NT ,000 3,543 AA3 102.328 3,195,648.00 .89 617446HW2 3.625% 04/01/2008 DD 03/06/03 A+ 3,274,496.00 .83 1,000,000.00 PHILIP HORRIS COS INC NTS .ooo 7,500 BAA2 100.000 1,052,600.00 .27 718154CH8 7,500% 04/01/2004 DD 04/01/97 BBB 1,000,000.00 .25 963,373.96 RESIDENTIAL ASSET 03-RSll AIIB .ooo 1.419 AAA 100,063 963,373.96 .26 760985K83 VAR RT 12/25/2033 DD 12/30/03 AAA 963,976.07 .25 3,260,886.08 SBA GTD DEV PARTN 2001-20C 1 .ooo 5,750 AAA 110.255 3,260,886.08 .98 83162CLJO 6.340% 03/01/2021 AAA 3,595,289.95 .92 YLDANAL YIELD ANALYSIS PAGE 13 OCSF07522202 2004/03/31 RUN DATE 04/06/04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04.29 =====~~====~=======-=======-=-====-=====~~-==·====~=:=============================================-----------------------==== PAR VALUE YTM AT CURRENT MOODY MARI<ET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARI<ET VALUE % TOTAL ------------------------------------------------------------------------------------------- 2,241,342.07 SBA GTD PARTN CTFS SBIC-PS 01 .ooo 6.059 AAA 109.595 2,241,342.07 .67 831641DD4 6.640% 02/10/2011 DD 02/21/01 NR 2,456,398.84 .63 1,600,000.00 UNITED AIRLS PASSTHRU 01-1 C .ooo 33.192 WR 20.580 1,600,000.00 .09 909317BC2 6.831% 03/01/2010 DD 08/22/01 A-329,280.00 .OB 20,000,000.00 US TREASURY NOTES .ooo 5.579 AAA 112.031 22,620,312.50 6.13 9128272JO 06.250% 02/15/2007 DD 02/15/97 AAA 22,406,300.00 5. 71 3,438,540.00 US TREASURY INFLATION INDEX NT .ooo 3.202 AAA 113.219 3,748,041.35 1.06 9128273T7 3.625% 01/15/2008 DD 01/15/98 AAA 3,893,080.60 .99 14,678,170.00 US TREASURY INFLATION INDEX NT .000 3. 335 AAA 116 .188 16,303,530.11 4.67 9128274Y5 3.875% 01/15/2009 DD 01/15/99 AAA 17,054,198.77 4.35 57,100,000.00 US TREASURY NOTES .ooo 5.374 AAA 107.000 62,782,901.47 16.73 9128276N7 05.750% 11/15/2005 DD 11/15/00 AAA 61,097,000.00 15.57 12,000,000.00 US TREASURY NT .ooo 3.160 AAA 102.840 11,870,156.25 3 .38 91282BBG4 3.250% 08/15/2008 DD 08/15/03 AAA 12,340,800.00 3 .14 01,000,000.00 US TREASURY NOTES .000 1.862 AAA 100.690 81,284,765.63 22.33 91282BBX7 1.875% 01/31/2006 DD 01/31/03 AAA 81,558,900.00 20.78 11,000,000.00 US TREASURY NOTES .000 1.622 AAA 100.156 17,045,156.25 4.66 91282BCB4 1.625% 02/28/2006 DD 02/29/04 AAA 17,026,562.50 4.34 1,750,000.00 VIRGINIA ELEC & PWR 01 SER A .000 5.368 A3 107.109 1,743,840.00 .51 927804ENO 5.750% 03/31/2006 DD 03/27/01 BBB+ 1,874,407.50 .48 16,362,500.00 US TREASURY INFLATION INDEX NT 3.817 3.061 AAA 110.250 14,444,558.33 4.94 9128272M3 3.375% 01/15/2007 DD 01/15/97 AAA 18,039,656.25 4.60 15,500,000.00 FEDERAL NATL MTG ASSN DEBS 5. 967 6. 778 AAA 105.118 16,154,410.00 4.46 31359MFR1 7.125% 02/15/2005 DD 02/14/00 AAA 16,293,339.60 4.15 1,015,139.09 FHLMC MULTICLASS MTG SER E3 A 6,316 3.635 AAA 104.024 1,016,220.57 ,28 3133TCE95 VAR RT 08/15/2032 DD 12/01/97 AAA 1,055,988.29 .27 663,304.28 GNMA GTD REMIC TR 2000-9 FH 6. 32·0 1.581 AAA 100.585 663,304.28 .18 3837B4NX9 VAR RT 02/16/2030 AAA 667,184.61 .17 5,577.93 GNMA POOL 10500917 6. 389 5. 718 AAA 104.926 5,294.67 .oo 36210SPAO 6.000% 04/15/2029 DD 04/01/99 AAA 5,852.69 .oo YLDANAL YIELD ANALYSIS PAGE 14 OCSF07522202 2004/03/31 RUN DATE 04/06/04 DISTRICT: LONG-TERM OPERATING RUN TIME 11.04.29 -------====================---================ -· -------= PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARXET VALUE I TOTAL --------------------------------------------------------------------------------------------------- 32,712.44 GNMA POOL 10506636 6,389 5. 718 AAA 104.926 31,051.25 .oo 36210YY90 6 ,000% 04/15/2029 DD 04/01/99 AAA 34,323.78 .01 290,960.31 GNMA POOL 10503388 6.389 5. 718 AAA 104.926 276,184.98 ,08 36210VF55 6,000% 03/15/2029 DD 03/01/99 AAA 305,292,37 .oe 12,611.01 GNMA POOL 10499153 6,389 5. 718 AAA 104,926 11,970.60 .oo 36210QQE5 6 ,000% 02/15/2029 DD 02/01/99 AAA 13,232.20 .oo 377,286.84 GNMA POOL 10496461 6.390 5.718 AAA 104.926 358,127.74 .10 36210MQN4 6.000% 01/15/2029 DD 01/01/99 AAA 395,871.16 .10 97,118.29 GNMA POOL 10491103 6,390 5. 718 AAA 104.926 92,186.52 .02 36210FRY4 6,0001 01/15/2029 DD 01/01/99 AAA 101,902.12 ,OJ 11,382.18 GNMA POOL 10486720 6.390 5. 718 AAA 104.926 10,804.19 .oo 36210AVM6 6,000% 12/15/2028 DD 12/01/98 AAA 11,942.84 .oo 20,924.70 GNMA POOL 10497343 6.390 5. 718 AAA 104,926 19,862.12 .oo 36210NP45 6,000% 12/15/2028 DD 12/01/98 AAA 21,955.40 .01 14,335.24 GNMA POOL 10469688 6. 391 5. 718 AAA 104.926 13,607.27 .oo 36209EXRB 6.0001 11/15/2028 DD 11/01/98 AAA 15,041.36 .oo 20,549.67 GNMA POOL 10467279 6.391 5. 718 AAA 104.926 19,506.13 .oo 36209CCQ7 6.000% 10/15/2028 DD 10/01/98 AAA 21,561.90 .01 , 35,427.53 GNMA POOL 10457814 6,391 5. 718 AAA 104.926 33,628.46 .01 36208QSB3 6.000% 10/15/2028 DD 10/01/98 AAA 37,172.61 .01 396,420.92 GNMA POOL 10467286 6.391 5. 718 AAA 104.926 376,290.17 .11 36209CCX2 6.000% 10/15/2028 DD 10/01/98 AAA 415,947,74 .11 491,653.90 GNMA POOL 10465555 6,392 5. 718 AAA 104.926 466,687.11 .14 36209AE48 6,0001 09/15/2028 OD 09/01/98 AAA 515,871.69 ,13 13,132.28 GNMA POOL 10483452 6,392 5. 718 AAA 104,926 12,465.42 .oo 36209WBV3 6.0001 09/15/2028 DD 09/01/98 AAA 13,779.15 .oo 456,504.88 GNMA POOL 10465546 6,392 5. 718 AAA 104.926 433,322.99 ,13 36209AET3 6,000% 08/15/2028 DD 08/01/98 AAA 478,991.31 .12 303,087.43 GNMA POOL 10468339 6.392 5. 718 AAA 104.926 287,696.29 ,08 362090HQO 6,000% 08/15/2028 DD 08/01/98 AAA 318,016.85 ,08 YLDANAL YIELD ANALYSIS PAGE 15 OCSF07522202 2004/03/31 RUN DATE 04/06/04 DISTRICT! LONG-TERM OPERATING RUN TIME : 11.04 .29 ---------------------------------------------------------------------------------------------====-=---=====---======--------- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ I TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE I TOTAL ------------------------------------------------------------------------------------------------------- 18,554.09 GNMA POOL 10438057 6. 393 5. 715 AAA 104.98B 17,611.90 .oo 36207PTN9 6.0001 05/15/2028 DD 05/01/9B AAA 19,479.62 .oo 18,762.45 GNMA POOL 10469330 6.39] s. 715 AAA 104.9B8 17,809.65 .oo 36209DHF4 6.0001 05/15/2028 DD 05/01/9B AAA 19,698.37 .01 288,926.10 GNMA II POOL fOBOOBBM 6.705 4.303 AAA 101.665 295,246.36 .oe 36225CC20 7,3751 06/20/2027 DD 06/01/97 AAA 293,736.00 .07 2,000,000.00 MARSH & MCLENNAN COS INC SR NT 6. 717 6.557 A2 101.031 1,992,280.00 .55 571748AB8 6.6251 06/15/2004 DD 06/14/99 AA-2,020,620.00 .51 2,soo,000.00 FORD MTR CR CO GLOBAL LANDMARK 6.739 6.604 Al 101.453 2,495,900.00 .69 345397SJ3 6.7001 07/16/2004 DD 07/16/99 BBB-2,536,325.00 .65 2,500,000.00 COUNTRYWIDE HOME LNS INC NT 6 ,866 6 .777 Al 101.078 2,498,400.00 .69 22237-UAB8 6.8501 06/15/2004 DD 06/24/99 A 2,526,950.00 .64 208,764.49 GNMA II POOL 10080023 6.992 4.477 AAA 103.302 212,222.15 .05 36225CAZ9 VAR RT 12/20/2026 DD 12/01/96 AAA 215,657.27 .05 2,100,000.00 FEDERAL NATL MTG ASSN DEBS 7,113 5,685 AAA 116. 541 2,030,133.00 .67 31359MEY5 6.6251 09/15/2009 DD 09/01/99 AAA 2,447,364.99 .62 1,000,000.00 FORD MOTOR CR CO NT 7,582 6.444 Al 104.750 965,170.00 .28 345397GV9 6.7501 05/15/2005 DD 05/24/93 BBB-1,047,500.00 .27 ., 943,578.54 WNP/HUNTOON PAIGE f000-11150 7,68t 7.367 AAA 101.803 923,085.20 .26 302998GE3 7.5001 12/01/2030 DD 10/21/99 AAA 960,587.20 .24 3,000,000.00 PACIFICORP SECD MTN fTR 00115 7,709 7.077 Al 103.156 2,950,530.00 .84 69512EEU5 7.3001 10/22/2004 DD 10/22/92 A 3,094,680.00 .79 YLDANAL OCSF07522202 DISTRICT: LONG-TERM OPERATING YIELD ANALYSIS 2004/03/31 ==========-===--·-=====-==- PAR VALUE SECURITY ID SECURITY DESCRIPTION 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 CURRENT MOODY MARKET BOOK YIELD S-P PRICE 7.967 7,377 Al 106,750 A+ ,337 4,547 • 335, 4,521 PAGE RUN DATE RUN TIME TOTAL COST/ MARKET VALUE 1,594,032,00 1,1oe,ooo.oo 359,437,659,61 365,081,611.99 386,810,569,71 392,454,522,09 16 04/06/04 11,04.29 I TYPE I TOTAL .46 .44 100.00 93.01 100.00 100.00 @ Asset Detail Report ID: GL8013· Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED-OCSGOO0l00OO 3/31/2004 Status: FINAL Net Unrealized Price Coat Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base U.S. DOLLAR CASH & CASH EQUIVALENTS INTEREST RECEIVABLE 3,366,216.86 3,366,216.86 0.70% 0.00 RECEIVABLE FOR INVESTMENTS 6,256,629.35 6,256,629.35 1.29% 0.00 SOLD PAYABLE FOR INVESTMENTS -9,095,640.62 -9,095,640.62 -1.88% 0.00 PURCHASED FEDERAL HOME LN BKS CONS DISC 99.7434 2,500,000.000 2,493,585.76 2,493,585.76 0.51% 0.00 MAT 05/05/2004 SEC ID: 313384WL9 FEDERAL HOME LN BK CONS DISC 99.4313 2 ,000,0,00.000 1,988,625.00 1,988,625.00 0.41% 0.00 MAT 05/19/2004 SEC ID: 313384XA2 FEDERAL HOME LN BK CONS DISC N 99.7472 1,700,0•00.000 1,695,702.78 1,695,702.78 0.35% 0.00 MAT 05/26/2004 SEC ID: 313384XH7 FEDERAL HOME LN BK CONS DISC N 99.7583 3 ,000,0,00.000 2,992,750.00 2,992,750.00 0.62% 0.00 MAT 05/28/2004 SEC ID: 313384XKO FEDERAL HOME LN BK CONS DISC N 99.7745 4 ,000,0•00.000 3,990,980.00 3,990,980.00 0.82% 0.00 MAT 06/02/2004 SEC ID: 313384XQ7 FEDERAL HOME LN MTG CORP DISC 99.7450 2 ,500,0·00.000 2,493,625.00 2,493,625.00 0.51% 0.00 MAT 5/4/2004 SEC ID: 313396WK5 FEDERAL HOME LN MTG CORP DISC 99.7722 6 ,000,0,00.000 5,986,333.33 5,986,333.33 1.24% 0.00 MAT 05/18/2004 SEC ID: 313396WZ2 FEDERAL HOME LN MTG CORP DISC 99.7472 2 ,000,0,00.000 1,994,944.44 1,994,944.44 0.41% 0.00 MAT 05/25/2004 SEC ID: 313396XG3 FEDERAL NATL MTG ASSN DISCOUNT 99.7528 6 ,500,0,00,000 6,483,930.56 6,483,930.56 1.34% 0.00 MAT 05/12/2004 SEC ID: 313588WT8 FEDERAL NATL MTG ASSN DISCOUNT 99.7500 9 ,600,0,00.000 9,569,801.67 9,569,801.67 1.98% 0.00 MAT 05/19/2004 SEC ID: 313588XA8 FEDERAL NATL MTG ASSN DISCOUNT 99.8295 500,000.000 499,147.50 499,147.50 0.10% 0.00 MAT 05/20/2004 SEC ID: 313588XB6 4/8/2004 8:38: 11AM PDT 1 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCS~CONSOUDATED-OCSGOOO 10000 3/31/2004 Status: FINAL Net Unrealized Price Coat Market Value %of Ga.in/LoBB Description Base Shares Par Base Base TotaJ Base FEDERAL NATL MTG ASSN DISCOUNT 99.7658 5,600,000.000 5,586,124.56 5,586,124.56 1.15% 0.00 MAT 06/02/2004 SEC ID: 313588XQ3 FEDERAL NATL MTG ASSN DISCOUNT 99.6721 8,800,000.000 8,771,142.87 8,771,142.87 1.81% 0.00 MAT 07/01/2004 SEC ID: 313588YV1 GENERAL ELEC CAP DISC 99.6678 500,000.000 498,338.89 498,338.89 0.10% 0.00 07/08/2004 SEC ID : 36959HG84 U S TREASURY BILL 99.4843 8,000,000.000 7,958,746.66 7,958,746.66 1.64% 0.00 0.000% 04/29/2004 DD 10/30/03 SEC ID: 912795PW5 U S TREASURY BILL 99.4820 4 ,400,0,00.000 4,377,207.88 4,377,207.88 0.90% 0.00 0.000% 05/06/2004 DD 11/06/03 SEC ID: 912795PX3 U S TREASURY BILL 99.5197 23, 100,0,00.000 22,989,043.00 22,989,043.00 4.75% 0.00 DUE 08/05/2004 DD 02/05/2004 SEC ID: 912795QW4 CREDIT SUISSE FB REPO 100.0000 1s,200,o,oo.ooo 18,200,000.00 18,200,000.00 3.76% 0.00 00.920% 04/01/2004 DD 03/31/04 SEC ID: 99418J221 DREYFUS TREASURY CASH MGMT 100.0000 2,121,813.760 2,12 1,813.76 2,121,813.76 0.44% 0.00 SEC ID: 996085247 TOTAL CASH & CASH EQUIVALENTS 111,021,813.760 111,219,049.25 111,219,049.25 22.96% 0.00 FIXED INCOME SECURITIES AIG SUNAMERICA GLOBAL REG S 109.8670 752,000.000 826,199.84 826,199.84 0.17% 0.00 5.850% 08/01/2008 DD 08/08/01 SEC ID: U00907AAO COMMIT TO PUR FNMA SF MTG 102.4375 2,800,000.000 2,875,250.00 2,868,250.00 0.59% -7,000.00 5.500% 04/01/2034 DD 04/01/04 SEC ID: 01F052649 ALLSTATE CORP SR NT 106.7500 1 ,600,0·00.000 1,594,032.00 1,708,000.00 0.35% 113,968.00 7.875% 05/01/2005 DD 05/01/00 SEC ID: 020002AL5 ASSOCIATES CORP NA MTN SR00043 101.8430 100,0•00.000 104,199.00 101,843.00 0.02% -2,356.00 7.920% 07/13/2004 DD 07 / 13/94 SEC ID: 045906BU7 ASSOCIATES CORP NORTH AMER 100.2030 I ,000,0·00.000 1,041,290.00 1,002,030.00 0.21% -39,260.00 5.800% 04/20/2004 DD 04/20/99 SEC ID: 046003KA6 4/8/2004 8:38: 11AM PDT 2 Workbench @ Asset Detail Report ID: GL8013 · Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED-OCBGOO0l00OO 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base BANK OF AMERICA CORP SR GBL NT 101.0780 500,000.000 518,385.00 505,390.00 0.10% -12,995.00 6.625% 06/15/2004 DD 06/ 15/99 SEC ID: 066050CW3 CIT GROUP INC NEW SR NT 108.7030 1,500,000.000 1,527,135.00 1,630,545.00 0.34% 103,410.00 5.500% 11/30/2007 DD 12/02/02 SEC ID: 125581ADO COUNTRYWIDE HOME LNS INC NT 101.0780 2,500,000.000 2,498,400.00 2,526,950.00 0.52% 28,550.00 6.850% 06/15/2004 DD 06/24/99 SEC ID: 22237UAB8 WMP/HUNTOON PAIGE #000-11150 101.8026 943,578.540 923,085.20 960,587.20 0.20% 37,502.00 7.500% 12/01/2030 DD 10/21/99 SEC ID: 302998GE3 FHLMC GROUP #G4-0353 100.9122 50,917.910 52,206.77 51,382.37 0.01% -824.40 7.500% 10/01/2004 DD 03/01/99 SEC ID: 3128DBMA2 FEDERAL HOME LN BK CONS BDS 105.0816 7 ,500,0•00.000 7,997,625.00 7,881,122.25 1.63% -116,502. 75 7.125% 02/15/2005 DD 02/08/00 SEC ID: 3133MAUN7 FHLMC MULTICLASS MTG SER E3 A 104.0240 1,015,139.090 1,016,220.57 1,055,988.29 0.22% 39,767.72 VAR RT 08/15/2032 DD 12/01/97 SEC ID: 3133TCE95 FEDERAL HOME LN MTG CORP DEB 100.1068 1, 100,0·00.000 1,125,905.00 1,101,174.25 0.23% -24,730.75 3.750% 04/15/2004 DD 04/15/02 SEC ID: 3134A4PH1 FHLMC GROUP #78-6064 103.8423 76,150.570 74,294.39 79,076.53 0.02% 4,782.14 6.384% 01/01/2028 DD 12/01/97 SEC ID: 31348SWZ3 FEDERAL NATL MTG ASSN DEBS 116.5412 2, 100,0,00.000 2,030,133.00 2,447,364.99 0.51% 417,231.99 6.625% 09/15/2009 DD 09/01/99 SEC ID: 31359MEY5 FEDERAL NATL MTG ASSN DEBS 105.1183 15,500,000.000 16,154,410.00 16,293,339.60 3.36% 138,929.60 7.125% 02/15/2005 DD 02/14/00 SEC ID: 31359MFH1 FEDERAL NATL MTG ASSN DEBS 107.2675 11,350,000.000 11,521,271.50 12,174,855.58 2.51% 653,584.08 5.250% 06/15/2006 DD 06/22/01 SEC ID: 31359MJX2 FNMA POOL #0254510 103.1602 803,849.480 827,964.96 829,252.41 0.17% 1,287.45 5.000% 11/01/2017 DD 10/01/02 SEC ID: 31371KVB4 FNMA POOL #0254631 103.1602 171,411.270 176,553.61 176,828.14 0.04% 274.53 5.000% 02/01/2018 DD 01/01/03 SEC ID: 31371KY47 4/8/2004 8:38:llAM PDT 3 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLlDATED -OCSGOO0 10000 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Losa Description Base Shares Par Base Base Total Base FNMA POOL #0254760 103.2227 154,118.900 158,742.46 159,085.63 0.03% 343.17 5.000% 06/01/2018 DD 05/01/03 SEC ID: 31371K5V9 FNMA POOL #0254866 103.2227 67,822.730 69,857.42 70,008.43 0.01% 151.01 5.000% 09/01/2018 DD 08/01/03 SEC ID: 31371LCB3 FNMA POOL #0254953 103.2227 357,031.180 361,605.65 368,537.08 0.08% 6,931.43 5.000% 11/01/2018 DD 10/01/03 SEC ID: 31371LE21 FNMA POOL #0254987 102.9322 967,177.730 979,569.69 995,537.03 0.21% 15,967.34 5.000% 12/01/2018 DD 11/01/03 SEC ID: 31371LF46 FNMA POOL #0323980 105.7266 192,417.270 200,895.65 203,436.16 0.04% 2,540.51 6.000% 04/01/2014 DD 09/01/99 SEC ID: 31374T2MO FNMA POOL #0357328 102.9528 30,286.760 31,195.36 31,181.06 0.01% -14.30 5.000% 01/01/2018 DD 01/01/03 SEC ID: 31376J4M8 FNMA POOL #0357430 103.0039 1,544,014.910 1,561,385.09 1,590,395.73 0.33% 29,010.64 5.000% 09/01/2018 DD 09/01/03 SEC ID: 31376KA71 FNMA POOL #0456482 105.7266 60,341.640 63,000.44 63,797.14 0.01% 796.70 6.000% 02/01/2014 DD 02/01/99 SEC ID: 31381CCT2 FNMA POOL #0509649 105.7266 148,561.080 155,107.06 157,068.52 0.03% 1,961.46 6.000% 09/01/2014 DD 09/01/99 SEC ID: 31383QEWO FNMA POOL #0535451 105.6016 152,452.950 159,170.41 160,992.69 0.03% 1,822.28 6.000% 06/01/2015 DD 07 /01/00 SEC ID: 31384VZQ8 FNMA POOL #0535672 105.7266 3,278,934.530 3,423,412.60 3,466,704.68 0.72% 43,292.08 6.000% 01/01/2016 DD 12/01/00 SEC ID: 31384WCH1 FNMA POOL #0545296 105.6641 1,060,143.490 1,106,856.06 1,120,190.65 0.23% 13,334.59 6.000% 11/01/2016 DD 10/01/01 SEC ID: 31385HXZO FNMA POOL #0545580 106.0391 88,344.730 92,237.41 93,679.92 0.02% 1,442.51 6.000% 03/01/2017 DD 03/01/02 SEC ID: 31385JCR7 FNMA POOL #0555101 105.9141 161,536.340 168,654.02 171,089.70 0.04% 2,435.68 6.000% 10/01/2017 DD 11/01/02 SECID:31385WU23 4/8/2004 8:38:llAM PDT 4 Workbench @ Asset Detail Report ID: GL8013 ' Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED -OCSGOO0 10000 3/31/2004 Status: FINAL Net UJll'eaUzed· Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base FNMA POOL #0555363 103.0039 368,911.790 379,979.14 379,993.57 0.08% 14.43 5.000% 04/01/2018 DD 03/01/03 SEC ID: 31385W5Yl FNMA POOL #0555453 103.1602 37,884.120 38,369.51 39,081.32 0.01% 711.81 5.000% 05/01/2018 DD 04/01/03 SEC ID: 31385XBW6 FNMA POOL #0555545 103.0039 307,445.740 316,669.12 316,681.13 0.07% 12.01 5.000% 06/01/2018 DD 05/01/03 SEC ID: 31385XES2 FNMA POOL #0555621 102.9322 1,065,954.330 1,077,946.31 1,097,209.93 0.23% 19,263.62 5.000% 07/01/2018 DD 06/01/03 SEC ID: 31385XG68 FNMA POOL #0576386 105.3013 63,9·08.170 66,724.12 67,296.15 0.01% 572.03 6.000% 05/01/2016 DD 05/01/01 SEC ID: 31386XJ72 FNMA POOL #0576739 105.9141 151,190.020 157,851.83 160,131.49 0.03% 2,279.66 6.000% 04/01/2016 DD 04/01/01 SEC ID: 31386:XV86 FNMA POOL #0580888 106.0391 213,871.900 223,295.62 226,787.75 0.05% 3,492.13 6.000% 05/01/2016 DD 05/01/01 SEC ID: 31387DJ91 FNMA POOL #0594002 105.6641 163,178.630 170,368.68 172,421.17 0.04% 2,052.49 6.000% 07/01/2016 DD 07 /01/01 SEC ID: 31387T3K8 FNMA POOL #0597376 105.6641 232,0·66.770 242,292.21 245,211.17 0.05% 2,918.96 6.000% 09/01/2016 DD 08/01/01 SEC ID: 31387XT96 FNMA POOL #0605259 105.6641 137,840.230 143,913.82 145,647.58 0.03% 1,733.76 6.000% 09/01/2016 DD 09/01/01 SEC ID: 31388HMG1 FNMA POOL #0608366 105.6641 86,130.190 89,925.30 91,008.66 0.02% 1,083.36 6.000% 10/01/2016 DD 09/01/01 SEC ID: 313881278 FNMA POOL #0616734 106.1641 168,429.970 175,851.41 178,812.09 0.04% 2,960.68 6 .000% 12/01/2016 DD 12/01/01 SECID:31388WEF9 FNMA POOL #0630812 105.3226 159,806.240 166,847.70 168,312.08 0.03% 1,464.38 6.000% 02/01/2017 DD 02/01/02 SEC ID: 31389NYH2 FNMA POOL #0632376 105.9141 771 ,604.770 805,603.62 817,237.94 0.17% 11,634.32 6.000% 07/01/2017 DD 07 /01/02 SEC ID: 31389QQ50 4/8/2004 8:38:llAM PDT 5 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED · OCSGOO0 10000 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base To.ta! Base FNMA POOL #0653116 105.9141 439,281.710 458,637.56 465,261.09 0.10% 6,623.53 6.000% 07/01/2017 DD 07 /01/02 SEC ID: 31390QSD8 FNMA POOL #0673280 105.9141 186,481.450 194,698.29 197,510.07 0.04% 2,811.78 6.000% 08/01/2017 DD 11/01/02 SEC ID: 31391P6R2 FNMA POOL #0681309 103.0039 557,907.170 574,644.38 574,666.20 0.12% 21.82 5.000% 02/01/2018 DD 02/01/03 SEC ID: 31391Y3S4 FNMA POOL #0681334 103.0039 69,784.180 71,877.70 71,880.43 0.01% 2.73 5.000% 02/01/2018 DD 01/01/03 SEC ID: 31391Y4Tl FNMA POOL #0684908 103.1602 346,982.230 351,427.94 357,947.42 0.07% 6,519.48 5.000% 06/01/2018 DD 05/01/03 SEC ID: 31400D3Rl FNMA POOL #0685200 103.0039 196,909.150 199,432.06 202,824.12 0 .04% 3,392.06 5.000% 03/01/2018 DD 03/01/03 SEC ID: 31400EGH7 FNMA POOL #0685665 103.0039 35,411.020 36,473.35 36,474.74 0.01% 1.39 5.000% 02/01/2018 DD 02/01/03 SEC ID: 31400EW22 FNMA POOL #0686318 103.0039 299,409.160 308,391.43 308,403.14 0 .06% 11.71 5.000% 03/01/2018 DD 03/01/03 SEC ID: 31400FPB7 FNMA POOL #0688739 103.0039 116,331.810 119,821.76 119,826.31 0.02% 4.55 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31400JEL9 FNMA POOL #0689859 103.2227 119,332.890 120,861.84 123,178.58 0 .03% 2,316.74 5.000% 05/01/2018 DD 05/01/03 SEC ID: 31400KMG8 FNMA POOL #0693834 103.0039 715,269.330 736,727.41 736,755.38 0.15% 27.97 5.000% 03/01/2018 DD 03/01/03 SEC ID: 31400PY74 FNMA POOL #0695852 103.0039 261,890.420 269,747.13 269,757.37 0.06% 10.24 5.000% 05/01/2018 DD 05/01/03 SEC ID: 31400SBVO FNMA POOL #0695889 103.0039 815,674.080 840,144.30 840,176.20 0.17% 31.90 5.000% 05/01/2018 DD 05/01/03 SEC ID: 31400SC23 FNMA POOL #0697026 103.0039 25,670.710 26,440.85 26,441.84 0.01 % 0.99 5.000% 05/01/2018 DD 04/01/03 SEC ID: 31400TLF2 4/8/2004 8:38:JJAM PDT 6 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDA.TED-OCSGOO0 10000 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gabi/Loss Description Bas~ Shares Par Base Base Total Base FNMA POOL #0698939 106.0391 90,452.550 94,438.12 95,915.03 0.02% 1,476.91 6.000% 09/01/2017 DD 03/01/03 SEC ID: 31400VPY2 FNMA POOL #0702210 102.9322 260,477.710 268,292.04 268,115.36 0.06% -176.68 5.000% 05/01/2018 DD 05/01/03 SEC ID: 31401ADP9 FNMA POOL #0702328 103.0039 145,689.050 147,555.70 150,065.42 0.03% 2,509.72 5.000% 05/01/2018 DD 04/01/03 SEC ID: 31401AHD2 FNMA POOL #0703195 105.8516 77,242.940 80,646.46 81,762.86 0.02% 1,116.40 6.000% 01/01/2017 DD 04/01/03 SEC ID: 31401BGC3 FNMA POOL #0709148 103.0039 295,651.930 304,521.49 304,533.05 0.06% 11.56 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401HZM7 FNMA POOL #0709360 103.2227 688,069.300 696,885.20 710,243.43 0.15% 13,358.23 5.000% 07/01/2018 DD 06/01/03 SEC ID: 31401JB56 FNMA POOL #0709826 103.0039 135,927.880 137,669.45 140,011.03 0 .03% 2,341.58 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401JSP4 FNMA POOL #0709917 103.0039 258,385.050 261,695.60 266,146.70 0.05% 4,451.10 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401JVJ4 FNMA POOL #0709963 102.9322 26,357.170 26,694.88 27,130.01 0.01% 435.13 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401JWYO FNMA POOL #0710235 103.0039 765,590.590 788,558.32 788,588.24 0.16% 29.92 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401KBC8 FNMA POOL #0713344 103.0039 23,899.090 24,616.05 24,617.00 0.01% 0.95 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401NP52 FNMA POOL #0713365 103.0039 323,167.810 327,308.40 332,875.48 0.07% 5,567.08 5.000% 07/01/2018 DD 07 /01/03 SEC ID: 31401NQS1 FNMA POOL #0720319 103.0039 891,832.600 903,259.20 918,622.45 0.19% 15,363.25 5.000% 07/01/2018 DD 07 /01/03 SEC ID: 31401WG45 FNMA POOL #0720369 102.9322 2,380,561.510 2 ,451,978.36 2,450,363.64 0.51% -1,614.72 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401WJNO 4/8/2004 8:38:llAM PDT 7 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED-OCSGOOOlOOOO 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Lose Description Base Shares Par Base Base Total Base FNMA POOL #0721629 103.4102 306,069.730 315,251.83 316,507.20 0.07% 1,255.37 5.000% 07/01/2018 DD 06/01/03 SECID:31401XVW4 FNMA POOL #0723487 103.0039 250,321.150 253,137.27 257,840.57 0.05% 4,703.30 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31402AXQ4 FNMA POOL #0729601 103.2227 417,487.210 422,836.27 430,941.40 0.09% 8,105.13 5.000% 07/01/2018 DD 07 /01/03 SEC ID: 31402HRW3 FNMA POOL #0732873 103.3477 36,173.180 36,636.64 37,384.14 0.01% 747.50 5.000% 11/01/2018 DD 10/01/03 SEC ID: 31402MFNS FNMA POOL #0737130 103.2227 730,063.690 739,417.63 753,591.16 0.16% 14,173.53 5.000% 10/01/2018 DD 10/01/03 SEC ID: 31402S4P9 FNMA POOL #0738211 102.9322 576,944.790 584,336.91 593,861.80 0.12% 9,524.89 5.000% 10/01/2018 DD 10/01/03 SEC ID: 3 l 402UDQ2 FNMA POOL #0738487 103.0039 215,799.150 218,564.07 222,281.56 0.05% 3,717.49 5.000% 10/01/2018 DD 10/01/03 SEC ID: 31402UNC2 FNMA POOL #0740471 102.9322 691,271.150 700,128.05 711,540.40 0.15% 11 ,412.35 5.000% 10/01/2018 DD 10/01/03 SEC ID: 31402WT40 FNMA POOL #0740748 103.0039 820,597.820 831,111.72 845,247.84 0.17% 14,136.12 5.000% 10/01/2018 DD 11/01/03 SEC ID: 31402WSH7 FNMA POOL #0743868 102.9322 43,335.920 43,891.16 44,606.60 0.01% 715.44 5.000% 11/01/2018 DD 10/01/03 SEC ID: 31403BMR1 FNMA POOL #0744008 103.0039 1,137,791.080 1,152,369.02 1,171,969.30 0.24% 19,600.28 5.000% 07/01/2018 DD 09/01/03 SEC ID: 31403BR54 FNMA POOL #0744316 102.9322 168,300.650 170,457.01 173,235.51 0.04% 2,778.50 5.000% 09/01/201$ DD 09/01/03 SEC ID: 314038324 FNMA POOL #0747914 103.0039 358,341.360 362,932.62 369,105.61 0.08% 6,172.99 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403F3XO FNMA POOL #0748400 102.9322 241,353.530 244,445.88 248,430.43 0.05% 3,984.55 5.000% 08/01/2018 DD 09/01/03 SEC ID: 31403GNR9 4/8/2004 8:38:llAM PDT 8 Workbench @ Asset Detail Report ID: GL8013 • Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSGOO0 10000 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Lo•• Description Base Shares Par Base Base Total Base FNMA POOL #0748899 102.9021 1,016,121.710 1,029,140.76 1,045,610.58 0.22% 16,469.82 5.000% 12/01/2018 DD 11/01/03 SEC ID: 31403G7LO FNMA POOL #0750377 102.9021 2,511,0,09.620 2,543,181.93 2,583,881.63 0.53% 40,699.70 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403JUA2 FNMA POOL #0750380 102.9021 2 ,067,5-07.550 2,093,997.51 2,127,508.69 0.44% 33,511.18 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403JUD6 FNMA POOL #0750445 102.9021 191,850.620 194,308.70 197,418.32 0 .04% 3,109.62 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403JWE2 FNMA POOL #0751960 102.9322 886,983.010 898,347.48 912,990.87 0.19% 14,643.39 5.000% 12/01/2018 DD 11/01/03 SEC ID: 31403LMH1 FNMA POOL #0753425 103.0039 956,360.340 967,418.25 985,088.54 0.20% 17,670.29 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403NA23 FNMA POOL #0755165 103.2227 626,778.880 634,809.48 646,977.83 0.13% 12,168.35 5.000% 12/01/2018 DD 11/01/03 SEC ID: 31403Q6A3 FNMA POOL #0756372 103.2227 983,689.850 995,063.76 1,015,390.83 0.21% 20,327.07 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403SJR8 FORD MOTOR CR CO NT 104.7500 1,000,000.000 965,170.00 1,047,500.00 0.22% 82,330.00 6.750% 05/15/2005 DD 05/24/93 SEC ID: 345397GV9 FORD MTR CR CO GLOBAL 101.4530 2,500,000.000 2,495,900.00 2,536,325.00 0.52% 40,425.00 LANDMARK 6. 700% 07/16/2004 DD 07 / 16/99 SEC ID: 345397SJ3 GNMA POOL #0596612 105.8906 297,905.260 312,660.87 315,453.73 0 .07% 2,792.86 6.500% 09/15/2032 DD 09/01/02 SEC ID: 36200BYH4 GNMA POOL #0569358 105.5239 1,055,308.120 1,080,041.90 1,113,601.81 0.23% 33,559.91 6.500% 04/15/2032 DD 04/01/02 SEC ID: 36200QQK3 GNMA POOL #0569685 105.8906 45,625.270 47,885.14 48,312.88 0.01% 427 .74 6.500% 02/15/2032 DD 02/01/02 SEC ID: 36200Q2S2 GNMA POOL #0570019 105.8906 78,367.740 82,249.40 82,984.09 0.02% 734;59 6.500% 07/15/2032 DD 07 /01/02 SEC ID: 36200RG48 4/8/2004 8:38:llAM PDT 9 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED-OCSGOO0 10000 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Loss· Description Base Shares Par Base Base Total Bas'.e GNMA POOL #0574323 105.8906 435,105.550 456,656.88 460,735.96 0.10% 4,079.08 6.500% 12/15/2031 DD 12/01/01 SEC ID: 36200WAY7 GNMA POOL #0575364 105.8906 44,315.460 46,510.46 46,925.92 0.01% 415.46 6.500% 11/15/2031 DD 11/01/01 SEC ID: 36200XFD6 GNMA POOL #058711 7 105.8906 19,200.940 20,151.99 20,331.99 0.00% 180.00 6.500% 06/15/2032 DD 06/01/02 SEC ID: 36201MG22 GNMA POOL #0587439 105.8594 55,770.440 58,532.81 59,038.24 0.01% 505.43 6.500% 11/15/2032 DD 12/01/02 SEC ID: 36201MS45 GNMA POOL #0421389 106.2344 13,563.090 14,234.90 14,408.66 0.00% 173.76 6.500% 04/15/2026 DD 04/01/96 SEC ID: 36206UC23 GNMA POOL #0438057 104.9883 18,554.090 17,611.90 19,479.62 0.00% 1,867.72 6.000% 05/15/2028 DD 05/01/98 SEC ID: 36207PTN9 GNMA POOL #0449851 105.6769 22,798.130 23,927.35 24,092.37 0.00% 165.02 6.500% 01/15/2028 DD 01/01/98 SEC ID: 36208FWL0 GNMA POOL #0457814 104.9258 35,427.530 33,628.46 37,172.61 0.01% 3,544.15 6.000% 10/15/2028 DD 10/01/98 SEC ID: 36208QSB3 GNMA POOL #0465546 104.9258 456,504.880 433,322.99 478,991.31 0.10% 45,668.32 6.000% 08/15/2028 DD 08/01/98 SEC ID: 36209AET3 GNMA POOL #0465555 104.9258 491,653.900 466,687.11 515,871.69 0.11% 49,184.58 6.000% 09/15/2028 DD 09/01/98 SEC ID: 36209AE48 GNMA POOL #0466845 106.1094 57,238.080 60,073.15 60,734.97 0.01% 661.82 6.500% 06/15/2028 DD 06/01/98 SEC ID: 36209BTA6 GNMA POOL #0467279 104.9258 20,549.670 19,506.13 21,561.90 0.00% 2,055.77 6.000% 10/15/2028 DD 10/01/98 SEC ID: 36209CCQ7 GNMA POOL #0467286 104.9258 396,420.920 376,290.17 415,947.74 0.09% 39,657.57 6.000% 10/15/2028 DD 10/01/98 SEC ID: 36209CCX2 GNMA POOL #0468052 106.1094 112,792.860 118,379.64 119,683.80 0.02% 1,304,16 6.500% 07/15/2028 DD 07 /01/98 SEC ID: 36209C5M4 4/8/2004 8:38:llAM PDT 10 Workbench @ Asset Detail Report ID: GL8013 • Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED-OCSGOO0 10000 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base ToW Base GNMA POOL #0468330 104.9883 18,762.450 17,809.65 19,698.37 0.00% 1,888.72 6.000% 05/15/2028 DD 05/01 /98 SEC ID: 36209DHF4 GNMA POOL #0468339 104.9258 303,087.430 287,696.29 318,016.85 0.07% 30,320.56 6.000% 08/15/2028 DD 08/01/98 SEC ID: 36209DHQO GNMA POOL #0469688 104.9258 14,335.240 13,607.27 15,041.36 0.00% 1,434.09 6.000% 11/15/2028 DD 11/01/98 SEC ID: 36209EXR8 GNMA POOL #04 76041 106.1094 173,436.160 181,755.68 184,032.03 0.04% 2,276.35 6.500% 06/15/2028 DD 06/01/98 SEC ID: 36209MZE7 GNMA POOL #04 78626 106.1094 163,642.520 171,492.25 173,640.06 0.04% 2,147.81 6.500% 01/15/2029 DD 01/01/99 SEC ID: 36209QVT9 GNMA POOL #0480598 106.1094 122,664.990 128,549.08 130,159.06 0.03% 1,609.98 6.500% 10/15/2028 DD 10/01/98 SEC ID: 36209S3F6 GNMA POOL #0483452 104.9258 13,132.280 12,465.42 13,779.15 0.00% 1,313.73 6.000% 09/15/2028 DD 09/01/98 SEC ID: 36209WBV3 GNMA POOL #0485527 105.8906 413,548.040 434,031.60 437,908.58 0.09% 3,876.98 6.500% 06/15/2031 DD 06/01/01 SEC ID: 36209YLG 1 GNMA POOL #0485610 105.8906 456,736.080 479,358.79 483,640.67 0.10% 4,281.88 6.500% 07/15/2031 DD 07 /01/01 SEC ID: 36209YN38 GNMA POOL #0485682 105.8906 88,433.900 92,814.14 93,643.21 0.02% 829.07 6.500% 08/15/2031 DD 08/01/01 SEC ID: 36209YRB6 GNMA POOL #0485703 105.8906 72,697.570 76,298.37 76,979.91 0.02% 681.54 6.500% 08/15/2031 DD 08/01/01 SEC ID: 36209YRY6 GNMA POOL #0486720 104.9258 11,382.180 10,804.19 11,942.84 0.00% 1,138.65 6.000% 12/15/2028 DD 12/01/98 SEC ID: 36210AVM6 GNMA POOL #0491103 104.9258 97,118.290 92,186.52 101,902.12 0.02% 9,715.60 6 .000% 01/15/2029 DD 01/01/99 SEC ID : 36210FRY4 GNMA POOL #0496461 104.9258 377,286.840 358,127.74 395,871.16 0.08% 37,743.42 6 .000% 01/15/2029 DD 01/01/99 SEC ID : 36210MQN4 4/8/2004 8:38:llAM PDT 11 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED -OCSGOO0 10000 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base GNMA POOL #0497343 104.9258 20,924.700 19,862.12 21,955.40 0.00% 2,093.28 6.000% 12/15/2028 DD 12/01/98 SEC ID: 36210NP45 GNMA POOL #0499153 104.9258 12,611.010 11,970.60 13,232.20 0.00% 1,261.60 6.000% 02/15/2029 DD 02/01/99 SEC ID: 36210QQE5 GNMA POOL #0500917 104.9258 5,577.930 5,294.67 5,852.69 0.00% 558.02 6.000% 04/15/2029 DD 04/01/99 SEC ID: 36210SPA0 GNMA POOL #0503388 104.9258 290,%0.310 276,184.98 305,292.37 0.06% 29,107.39 6.000% 03/15/2029 DD 03/01/99 SEC ID: 36210VF55 GNMA POOL #0506636 104.9258 32,712.440 31,051.25 34,323.78 0.01% 3,272.53 6.000% 04/15/2029 DD 04/01/99 SEC ID: 36210YY90 GNMA POOL #0512235 106.0156 10,887.030 11,426.27 11,541.95 0.00% 115.68 6.500% 11/15/2029 DD 11/01/99 SEC ID: 36211GBC6 GNMA POOL #0514326 106.0156 141,394.810 148,177.34 149,900.58 0.03% 1,723.24 6.500% 07/15/2029 DD 07 /01/99 SEC ID: 36211JLF2 GNMA POOL #0530053 105.5293 46,750.560 49,066.18 49,335.53 0.01% 269.35 6.500% 04/15/2031 DD 04/01/01 SEC ID: 36212CZS3 GNMA POOL #0537885 105.8906 104,672.660 109,857.22 110,838.53 0.02% 981.31 6.500% 02/15/2031 DD 02/01/01 SEC ID: 36212MRE1 GNMA POOL #0547512 105.8906 10,9·09.500 11,449.87 11,552.14 0.00% 102.27 6.500% 04/15/2031 DD 04/01/01 SEC ID: 36212YGV9 GNMA POOL #0547715 105.8906 127,835.970 133,968.10 135,366.30 0.03% 1,398.20 6.500% 02/15/2031 DD 02/01/01 SEC ID: 36212YN82 GNMA POOL #0552322 105.8906 66,498.410 69,792.16 70,415.58 0.01% 623.42 6.500% 01/15/2032 DD 01/01/02 SEC ID: 36213ESK3 GNMA POOL #0552466 105.5239 478,961.860 502,685.45 505,419.02 0.10% 2,733.57 6.500% 03/15/2032 DD 03/01/02 SEC ID: 36213EW36 GNMA POOL #0552659 105.8906 390,297.170 409,629.06 413,288.09 0.09% 3,659,.03 6.500% 07/15/2032 DD 07 /01/02 SEC ID: 36213E5U6 4/8/2004 8:38:llAM PDT 12 Workbench @ Asset Detail Report ID: GL8013 • Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED-OCSGOO0l00OO 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Loss Description Base Shares Par Base Base Total Base GNMA POOL #0561017 105.8906 359,527.300 377,335.13 380,705.69 0.08% 3,370.56 6.500% 07/15/2031 DD 07 /01/01 SEC ID: 36213QG29 GNMA II POOL #0080023 103.3017 208,764.490 212,222.15 215,657.27 0.04% 3,435.12 VAR RT 12/20/2026 DD 12/01/96 SEC ID : 36225CAZ9 GNMA II POOL #080088M 101.6648 288,926.100 295,246.36 293,736.00 0.06% -1,510.36 7.375% 06/20/2027 DD 06/01/97 SEC ID: 36225CC20 GNMA II POOL #0080395 101.8445 253,532.740 251,235.10 258,209.02 0.05% 6,973.92 VAR RT 04/20/2030 DD 04/01/00 SEC ID: 36225CNM4 GNMA II POOL #080408X 101.8434 2,252,721.510 2,229,842.31 2,294,247.05 0.47% 64,404.74 6.500% 05/20/2030 DD 05/01/00 SEC ID: 36225CN28 GENERAL ELEC CAP MTN #TR 00448 100.4680 180,000.000 183,801.60 180,842.40 0.04% -2,959.20 7.250% 05/03/2004 DD 05/01/00 SEC ID: 36962GUR3 GENERAL ELEC CAP MTN #TR 00545 100.0310 1,000,0,00.000 1,001,089.00 1,000,310.00 0.21% -779.00 VAR RT 05/20/2004 DD 05/20/02 SEC ID: 36962GYS7 GENERAL MTRS ACCEP CORP SR NT 107.7650 3,000,000.000 3,064,350.00 3,232,950.00 0.67% 168,600.00 6.125% 08/28/2007 DD 08/29/02 SEC ID: 370425SD3 GOLDMAN SACHS GROUP INC SR NT 104.3590 3,000,000.000 3,030,030.00 3,130,770.00 0 .65% 100,740.00 4.125% 01/15/2008 DD 01/13/03 SEC ID: 38141GCS1 GNMA GTD REMIC TR 2000-9 FH 100.5850 663,304.280 663,304.28 667,184.61 0.14% 3,880.33 VAR RT 02/16/2030 SEC ID: 3837H4NX9 LEHMAN BROS HLDGS INC 100.0000 1,000,000.000 1,045,590.00 1,000,000.00 0.21% -45,590.00 6.625% 04/01/2004 DD 03/26/99 SEC ID: 524908BZ2 MARSH & MCLENNAN COS INC SR NT 101.0310 2,000,000.000 1,992,280.00 2,020,620.00 0.42% 28,340.00 6.625% 06/15/2004 DD 06/14/99 SEC ID: 571748AB8 MORGAN STANLEY NT 102.3280 3 ,200,0,00.000 3,195,648.00 3,274,496.00 0.68% 78,848.00 3.625% 04/01/2008 DD 03/06/03 SEC ID: 617446HW2 NCNB TEX NATL BK DALLAS TEX NT 101.2650 250,0·00.000 260,870.00 253,162.50 0.05% -7,707,50 9.500% 06/01/2004 DD 06/01/89 SEC ID: 628857DJO 4/8/2004 8:38:llAM PDT 13 Workbench @ Mellon OCSD-CONSOUDATED-OCSG-00010000 Description NATIONSBANK CORP 7.750% 08/15/2004 SEC ID: 638585AJ8 NATIONSBANK CORP SR NTS 6.125% 07/15/2004 DD 07 /23/98 SEC ID: 638585BJ7 NORWEST FINL INC NTS 7.200% 04/01/2004 DD 04/07 /97 SEC ID: 669383DG3 PACIFICORP SECD MTN #TR 00115 7.300% 10/22/2004 DD 10/22/92 SEC ID: 69512EEU5 PHILIP MORRIS COS INC NTS 7.500% 04/01/2004 DD 04/01/97 SEC ID: 718154CH8 RESIDENTIAL ASSET 03-RSl 1 AIIB VAR RT 12/25/2033 DD 12/30/03 SEC ID: 760985K83 SBA GTD DEV PARTN 2001-20C 1 6.340% 03/01/2021 SEC ID: 83162CWO SBA GTD PARTN CTFS SBIC-PS 01 6.640% 02/10/2011 DD 02/21/01 SEC ID: 831641DD4 UNITED AIRLS PASSTHRU 01-1 C 6.831% 03/01/2010 DD 08/22/01 SEC ID: 9093 l 7BC2 US BANCORP MTN #TR 00119 6.000% 05/15/2004 DD 05/10/99 SEC ID: 91159HEY2 U S TREASURY NOTES 06.250% 02/15/2007 DD 02/15/97 SEC ID: 9128272JO US TREASURY INFLATION INDEX NT 3.375% 01/15/2007 DD 01/15/97 SEC ID: 9128272M3 US TREASURY INFLATION INDEX NT 3.625% 01/15/2008 DD 01/15/98 SEC ID: 9128273T7 US TREASURY INFLATION INDEX NT 3.875% 01/15/2009 DD 01/ 15/99 SEC ID: 9128274Y5 4/8/2004 8:38: 11AM PDT Price Base 102.2960 101.3750 100.0000 103.1560 100.0000 100.0625 110.2550 109.5950 20.5800 100.5460 112.0315 110.2500 113.2190 116.1875 Asset Detail by Currency 3/31/2004 Shares Par 600,000.000 627,000.000 520,000.000 3,000,000.000 1,000,000.000 963,373.960 3 ,260,8-86.080 2,241,342.070 1,600,0•00.000 1,000,0,00.000 Cost Base 615,546.00 646,650.18 531,538.80 2,950,530.00 1,052,600.00 963,373.96 3,260,886.08 2,241,342.07 1,600,000.00 1,046,310.00 20 ,000,0,00.000 22,620,312.50 16,362,500.000 14,444,558.33 3,438,540.000 3,748,041.35 14,678,170.000 16,303,530.11 14 ReportID: GL8013 Base Currency: USD Alternate Base Currency: Market Value Base 613,776.00 635,621.25 520,000.00 3,094,680.00 1,000,000.00 963,976.07 3,595,289.95 2,456,398.84 329,280.00 1,005,460.00 22,406,300.00 18,039,656.25 3,893,080.60 17,054,198.77 Exchange Rate: Status: FINAL %of Total 0.13% 0.13% 0.11% 0.64% 0.21% 0.20% 0.74% 0.51% 0.07% 0.21% 4.63% 3.72% 0.80% 3.52% - Net Unrealized Gain/Loss Base -1,770.00 -11,028.93 -11,538.80 144,150.00 -52,600.00 602.11 334,403.87 215,056.77 -1,270,720.00 -40,850.00 -214,012.50 3,595,097.92 145,039.25 750,668,66 -Workben~h @ Asset Detail Re-port ID: GL8013• Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED-OCBGOO0l00OO 3/31/2004 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Losa Description Base Shares Par Base Base Total Baae U S TREASURY NOTES 107.0000 57,100,000.000 62,782,901.47 61,097,000.00 12.61% -1,685,901.47 05.750% 11/15/2005 DD 11/15/00 SEC ID: 9128276N7 U S TREASURY NT 102.8400 12,000,000.000 11,870,156.25 12,340,800.00 2.55% 470,643.75 3.250% 08/15/2008 DD 08/ 15/03 SEC ID: 912828BG4 U S TREASURY NOTES 100.6900 81,000,000.000 81,284,765.63 81,558,900.00 16.84% 274,134.37 1.875% 01/31/2006 DD 01/31/03 SEC ID: 912828BX7 U S TREASURY NOTES 100.1563 17,000,000.000 17,045,156.25 17,026,562.50 3.52% -18,593.75 1.625% 02/28/2006 DD 02/29/04 SEC ID: 912828CB4 VIRGINIA ELEC & PWR O 1 SER A 107.1090 1,750,0•00.000 1,743,840.00 1,874,407.50 0.39% 130,567.50 5.750% 03/31/2006 DD 03/27 /01 SEC ID: 927804ENO WELLS FARGO & CO NEW NT 101.5000 125,000.000 128,605.00 126,875.00 0 .03% -1,730.00 6.625% 07/15/2004 DD 07 /28/99 SEC ID: 949746AA9 TOTAL FIXED INCOME SECURITIES 356,486,195.240 367,687,439.19 373,128,096.39 77.04% 5,440,657.20 TOTAL ASSETS U.S. DOLLAR 467,508,009.000 478,906,488.44 484,347,145.64 100.00% 5,440,657.20 TOTAL ASSETS -BASE: 467,508,009.000 478,906,488.44 484,347,145.64 100.00% 5,440,657.20 4/8/2004 8:38: 11AM PDT 15 Workbench @ Transaction Detail Report ID: EWB009 ' , Mellon Reported by Transaction Category Base Currency: USD 0CSOC0NS0LIDATED -OCSGOOOlOOOO 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base 8ase PURCHASES CASH & CASH EQUIVALENTS U.S. DOLLAR B FEDERAL HOME LN BK CONS DISC N MAT 3/2/2004 99.7583 3,000,000.000 2,992,750.00 -2,992,750.00 0.00 05/28/2004 3/2/2004 SEC ID: 313384XKO 3/2/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07511102: LIQUID OPER-PIMCO B FEDERAL HOME LN BK CONS DISC N MAT 3/12/2004 99.7745 4,000,000.000 3,990,980.00 -3,990,980.00 0.00 06/02/2004 3/12/2004 SEC ID: 313384XQ7 3/12/2004 BROKER: CITIGROUP GBL MKTS/SALOMON, NEW YORK OCSF07511102: LIQUID OPER-PIMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 3/19/2004 99.8295 500,000.000 499,147.50 -499,147.50 0.00 05/20/2004 3/19/2004 SEC ID: 313588XB6 3/19/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 3/3/2004 99.7447 3,600,000.000 3,590,809.00 -3,590,809.00 0.00 06/02/2004 3/3/2004 SEC ID: 313588XQ3 3/3/2004 BROKER: MORGAN STANLEY & CO INC, NY OCSF07522202: LONG TERM OPER-PIMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 3/9/2004 99.7658 2,000,000.000 1,995,315.56 -1,995,315.56 0.00 06/02/2004 3/9/2004 SEC ID: 313588XQ3 3/9/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102 : LIQUID OPER-PIMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 3/19/2004 99.7082 3,900,000.000 3,888,620.67 -3,888,620.67 0.00 07/01/2004 3/19/2004 SEC ID: 313588YV1 3/19/2004 BROKER: MORGAN STANLEY & CO INC, NY OCSF07522202 : LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 1 Workbench @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE D[Il][]!2 7 nn [100[10~1•1] 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base B FEDERAL NATL MTG ASSN DISCOUNT MAT 3/29/2004 99.7363 1,000,000.000 997,362.78 -997,362.78 0.00 07/01/2004 3/29/2004 SEC ID: 313588YV1 3/29/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07522202: LONG TERM OPER -PIMCO B GENERAL ELEC CAP DISC 07/08/2004 3/15/2004 99.6678 500,000.000 498,338.89 -498,338.89 o.oo SEC ID: 36959HG84 3/15/2004 BROKER: CITIBANK CP IPA, NEW YORK 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO B LEHMAN CAT 2 REPO 01.000% 03/02/2004 DD 3/1/2004 100.0000 12,300,000.000 12,300,000.00 -12,300,000.00 0.00 03/ 01/04 3/1/2004 SEC ID : 99416Y287 3/1/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 00.990% 03/03/2004 3/2/2004 100.0000 3,400,000.000 3,400,000.00 -3,400,000.00 0.00 DD 03/02/04 3/2/2004 SECJD: 994162300 3/2/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO B CREDIT SUISSE FB REPO 00.970% 03/03/2004 3/2/2004 100.0000 9,300,000.000 9,300,000.00 -9,300,000.00 0.00 DD 03/02/04 3/2/2004 SEC ID: 99416Z912 3/2/2004 BROKER: CRE DIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00.980% 03/04/2004 DD 3/3/2004 100.0000 9,300,000.000 9,300,000.00 -9,300,000.00 0.00 03/03/04 3/3/2004 SEC ID: 99417B476 3/3/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 00.980% 03/05/2004 3/4/2004 100.0000 9,300,000.000 9,300,000.00 -9,300,000.00 0.00 DD 03/04/04 3/4/2004 SEC ID: 99417C82 l 3/4/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 2 Wo,;kbench - @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE D!7llllT2 D DD •n1nl77[1t1 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Da:te Price C Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par -Base Base Base B LEHMAN CAT 2 REPO 00.980%03/08/2004 DD 3/5/2004 100.0000 9,300,000.000 9,300,000.00 -9,300,000.00 0.00 03/05/04 3/5/2004 SEC ID: 99417E587 3/5/2004 BROKER: LEHMAN aovr SECS INC, NY OCSF07511102 : LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 00.990% 03/09/2004 3/8/2004 100.0000 13,800,000.000 13,800,000.00 -13,800,000.00 o.oo DD 03/08/04 3/8/2004 SEC ID: 99417F311 3/8/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102 : LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 00.960% 03/10/2004 3/9/2004 100.0000 14,500,000.000 14,500,000.00 -14,500,000.00 0.00 DD 03/09/04 3/9/2004 SEC ID: 99417H408 3/9/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102 : LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00.960% 03/11/2004 DD 3/10/2004 100.0000 14,500,000.000 14,500,000.00 -14,500,000.00 0.00 03/ 10/04 3/10/2004 SEC ID: 99417K062 3/10/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 00.990% 03/12/2004 3/11/2004 100.0000 14,500,000.000 14,500,000.00 -14,500,000.00 0.00 DD 03/11/04 3/11/2004 SEC ID: 994171136 3/11/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO O 1.000% 03/15/2004 3/12/2004 100.0000 15,000,000.000 15,000,000.00 -15,000,000.00 0.00 DD 03/12/04 3/12/2004 SEC ID: 99417N017 3/12/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF0751 l 102: LIQUID OPER-PIMCO B LEHMAN CAT2 REPO 0 1.050%03/ 16/2004 DD 3/15/2004 100.0000 15,000,000.000 15,000,000.00 -15,000,000.00 0.00 03/15/04 3/15/2004 SEC ID: 99417?798 3/15/2004 BROKER: LEHMAN aovr SECS INC, NY OCSF07511102 : LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 3 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE DJ!llli2 0 OD ••:moo•• 3/1/2004 -3/31/2004 Status: FINAL Trade Date . I ' Tran Settle Date Price Cost Amount Net Gahl/Losa Type Descrlptlon Reported. Date Base Shares/Par Base Base Base B LEHMAN CA1' 2 REPO O L000% 03/17/2004 DD 3/16/2004 100.0000 15,000,000.000 15,000,000.00 -15,000,000.00 0.00 03/16/04 3/16/2004 SEC ID: 99417R323 3/16/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 01.000% 03/18/2004 DD 3/17/2004 100.0000 15,900,000.000 15,900,000.00 -15,900,000.00 0.00 03/17/04 3/17/2004 SEC ID: 99417S800 3/17/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 01.010% 03/19/2004 3/18/2004 100.0000 15,900,000.000 15,900,000.00 -15,900,000.00 0.00 DD 03/18/04 3/18/2004 SEC ID: 99417U201 3/18/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00.990% 03/22/2004 DD 3/19/2004 100.0000 15,900,000.000 15,900,000.00 -15,900,000.00 0.00 03/19/04 3/19/2004 SEC ID: 99417V563 3/19/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSEFB REPO 01.000%03/23/2004 3/22/2004 100.0000 15,900,000.000 15,900,000.00 -15,900,000.00 0.00 DD 03/22/04 3/22/2004 SEC ID: 99417X015 3/22/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 00.980% 03/24/2004 3/23/2004 100.0000 15,900,000.000 15,900,000.00 -15,900,000.00 0.00 DD 03/23/04 3/23/2004 SEC ID; 99417Y393 3/23/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00.970% 03/25/2004 DD 3/24/2004 100.0000 15,900,000.000 15,900,000.00 -15,900,000.00 0.00 03/24/04 3/24/2004 SEC ID: 99418A501 3/24/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 4 Workbench @ Transaction Detail Report ID: EWB009 . Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE DDllll!2 0 GO 00000000 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price '· Cost Amount Net Gain/Loss Type Descrlptfon Reported Date Ba•e Shares/Par Base Base Bue B CREDIT SUISSE FB REPO 00.990% 03/26/2004 3/25/2004 100.0000 15,300,000.000 15,300,000.00 -15,300,000.00 0.00 DD 03/25/04 3/25/2004 SEC ID: 99418B707 3/25/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 00.980% 03/29/2004 3/26/2004 100.0000 15,300,000.000 15,300,000.00 -15,300,000.00 0.00 DD 03/26/04 3/26/2004 SEC ID: 99418Cl92 3/26/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO O 1.000% 03/30/2004 3/29/2004 100.0000 15,300,000.000 15,300,000.00 -15,300,000.00 0.00 DD 03/29/04 3/29/2004 SEC ID: 99418E669 3/29/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 00.980% 03/31/2004 DD 3/30/2004 • 100.0000 15,300,000.000 15,300,000.00 -15,300,000.00 0.00 03/30/04 3/30/2004 SEC ID: 994180441 3/30/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 00.920% 04/01/2004 3/31/2004 100.0000 18,200,000.000 18,200,000.00 -18,200,000.00 0.00 DD 03/31/04 3/31/2004 SEC ID: 99418J221 3/31/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP,NY OCSF07511102: LIQUID OPER-PIMCO B DREYFUS TREASURY CASH MGMT 3/1/2004 1.0000 1,104.500 1,104.50 -1,104.50 0.00 SEC ID: 996085247 3/1/2004 OCSF07511102: LIQUID OPER-PIMCO 3/1/2004 B DREYFUS TREASURY CASH MGMT 3/1/2004 1.0000 555,800.270 555,800.27 -555,800.27 0.00 SEC ID: 996085247 3/1/2004 OCSF07522202: LONG TERM OPER -PIMCO 3/1/2004 B DREYFUS TREASURY CASH MGMT 3/2/2004 1.0000 9,650.730 9,650.73 -9,650.73 0.00 SEC ID: 996085247 3/2/2004 OCSF07511102: LIQUID OPER-PIMCO 3/2/2004 4/8/2004 8:34:17AM PDT 5 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE DOlllll2 :10[] •[]•nrnnr, 3/1/2004 -3/31/2004 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 MGMT 3/3/2004 1.0000 250.580 250.58 -250.58 0.00 SEC ID: 996085247 3/3/2004 OCSF07511102: LIQUID OPER-PIMCO 3/3/2004 B DREYFUS TREASURY CASH MGMT 3/4/2004 1.0000 253.170 253.17 -253.17 0.00 SEC ID: 996085247 3/4/2004 OCSF0751 l 102: LIQUID OPER-PIMCO 3/4/2004 B DREYFUS TREASURY CASH MGMT 3/5/2004 1.0000 253.170 253.17 -253.17 0.00 SEC ID: 996085247 3/5/2004 OCSF0751 l 102: LIQUID OPER-PIMCO 3/5/2004 B DREYFUS TREASURY CASH MGMT 3/8/2004 1.0000 759.500 759.50 -759.50 0.00 SEC ID: 996085247 3/8/2004 OCSF07511102: LIQUID OPER-PIMCO 3/8/2004 B DREYFUS TREASURY CASH MGMT 3/9/2004 1.0000 8,651.570 8,651.57 -8,651.57 0.00 SEC ID: 996085247 3/9/2004 OCSF07511102: LIQUID OPER-PIMCO 3/9/2004 B DREYFUS TREASURY CASH MGMT 3/10/2004 1.0000 386.670 386.67 -386.67 0.00 SEC ID: 996085247 3/10/2004 OCSF07511102 : LIQUID OPER-PIMCO 3/10/2004 B DREYFUS TREASURY CASH MGMT 3/12/2004 1.0000 9,418.750 9,418.75 -9,418.75 0.00 SEC ID: 996085247 3/12/2004 OCSF07511102: LIQUID OPER-PIMCO 3/12/2004 B DREYFUS TREASURY CASH MGMT 3/15/2004 1.0000 1,250.000 1,250.00 -1 ,250.00 0.00 SEC ID: 996085247 3/15/2004 OCSF07511102: LIQUID OPER-PIMCO 3/15/2004 B DREYFUS TREASURY CASH MGMT 3/15/2004 1.0000 4,706.220 4,706.22 -4,706.22 0.00 SEC ID: 996085247 3/15/2004 OCSF07522202 : LONG TERM OPER-PIMCO 3/15/2004 B DREYFUS TREASURY CASH MGMT 3/16/2004 1.0000 437.500 437.50 -437.50 0.00 SEC ID: 996085247 3/16/2004 OCSF07511102: LIQUID OPER-PIMCO 3/16/2004 4/8/2004 8:34:17AM PDT 6 Workbench @ Transaction Detail ReportlD: EWB009 " . Mellon Reported by Transaction Category Base Currency: USD OCSD.CONS OLI DATE DOIII][2 Cl OD •••••,JD• 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type DescrlptJon Reported Date Baae Shares/Par Base Sase Bue B DREYFUS TREASURY CASH MGMT 3/16/2004 1.0000 18,684.860 18,684.86 -18,684.86 0.00 SEC ID: 996085247 3/16/2004 OCSF07522202: LONG TERM OPER-PIMCO 3/16/2004 B DREYFUS TREASURY CASH MGMT 3/17/2004 1.0000 416.670 416.67 -416.67 0.00 SEC ID: 996085247 3/17/2004 OCSF07511102: LIQUID OPER-PIMCO 3/17/2004 B DREYFUS TREASURY CASH MGMT 3/18/2004 1.0000 441.670 441.67 -441.67 0.00 SEC ID: 996085247 3/18/2004 OCSF07511102: LIQUID OPER-PIMCO 3/18/2004 B DREYFUS TREASURY CASH MGMT 3/19/2004 1.0000 446.080 446.08 -446.08 0.00 SEC ID: 996085247 3/19/2004 OCSF07511102: LIQUID OPER-PIMCO 3/19/2004 B DREYFUS TREASURY CASH MGMT 3/22/2004 1.0000 2,354.770 2,354.77 -2,354.77 0.00 SEC ID: 996085247 3/22/2004 OCSF07511102: LIQUID OPER-PIMCO 3/22/2004 B DREYFUS TREASURY CASH MGMT 3/22/2004 1.0000 104,755.280 104,755.28 -104,755.28 0.00 SEC ID: 996085247 3/22/2004 OCSF07522202: LONGTERM OPER-PIMCO 3/22/2004 B DREYFUS TREASURY CASH MGMT 3/23/2004 1.0000 441.670 441.67 -441.67 0.00 SEC ID: 996085247 3/23/2004 OCSF07511102: LIQUID OPER-PIMCO 3/23/2004 B DREYFUS TREASURY CASH MGMT 3/24/2004 1.0000 15,279,849.330 15,279,849.33 -15,279,849.33 0.00 SEC ID: 996085247 3/24/2004 OCSF07511102: LIQUID OPER-PIMCO 3/24/2004 B DREYFUS TREASURY CASH MGMT 3/25/2004 1.0000 1,026,731.070 1,026,731.07 -1,026,731.07 0.00 SEC ID: 996085247 3/25/2004 OCSF07522202 : LONG TERM OPER-PIMCO 3/25/2004 B DREYFUS TREASURY CASH MGMT 3/26/2004 1.0000 420.750 420.75 -420.75 0.00 SEC ID: 996085247 3/26/2004 OCSF07511102 : LIQUID OPER-PIMCO 3/26/2004 4/8/2004 8:34:17AM PDT 7 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDJ!!Jl!2 J oonw1n11 inn 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Repented Date Base Shares/Par Base Base Base B DREYFUS TREASURY CASH MGMT 3/29/2004 1.0000 1,249.500 1,249.50 -1,249.50 0.00 SEC ID: 996085247 3/29/2004 OCSF0751 ll02: LIQUID OPER-PLMCO 3/29/2004 B DREYFUS TREASURY CASH MGMT 3/30/2004 1.0000 425.000 425.00 -425.00 0.00 SEC ID: 996085247 3/30/2004 OCSF07511102 : LfQUID OPER-PIMCO 3/30/2004 B DREYFUS TREASURY CASH MGMT 3/30/2004 1.0000 6,687.990 6,687.99 -6,687.99 0.00 SEC ID: 996085247 3/30/2004 OCSF07522202: LONGTERM OPER-PIMCO 3/30/2004 B DREYFUS TREASURY CASH MGMT 3/31/2004 1.0000 899,316.750 899,316.75 -899,316.75 0.00 SEC ID: 996085247 3/31/2004 OCSF07511102: LIQUID OPER-PIMCO 3/31/2004 B DREYFUS TREASURY CASH MGMT 3/31/2004 1.0000 50,312.500 50,312.50 -50,312.50 0.00 SEC ID: 996085247 3/31/2004 OCSF07522202: LONG TERM OPER-PIMCO 3/31/2004 TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: 366,485,456.520 366,438,780.92 -366,438,780.92 0.00 TOTAL CASH & CASH EQUIVALENTS BASE: 366,485,456.520 366,438,780.92 -366,438,780.92 0.00 FIXED INCOME SECURITIES U.S. DOLLAR B COMMIT TO PUR FNMA SF MTG 5.500% 3/10/2004 102.6875 2,800,000.000 2,875,250.00 -2,875,250.00 0.00 04/01/2034 DD 04/01 /04 4/15/2004 SEC ID: 01F052649 3/10/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO B COMMIT TO PUR FNMA SF MTG 6 .000% 3/24/2004 103.8359 2,000,000.000 2,076,718.75 -2,076,718.75 0.00 04/01/2034 DD 04/01 /04 4/15/2004 SEC ID: 01F060642 3/24/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 8 Workbench @ Transaction Detail Report ID: EWB009 . . Mellon Reported by Transaction Category Base Currency: USD OCS D-CONSOLI DATE DJllll!2 0 OD ••o••o•• 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base B FNMA POOL #0763307 6.000% 04/01/2034 2/3/2004 103.5000 500,000.000 517,500.00 -517,500.00 0.00 DD 03/01/04 3/15/2004 SEC ID: 31404BAG7 3/1/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0763307 6.000% 04/01/2034 2/3/2004 103.5000 0.000 0.00 -1,166.67 0.00 DD 03/01/04 3/15/2004 SEC ID: 31404BAG7 3/1/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0772131 6.000% 11/01/2033 2/3/2004 103.5000 345,534.040 357,627.73 -357,627.73 0.00 DD 02/01/04 3/15/2004 SEC ID: 31404LY46 3/1/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP,N Y OCSF07522202: LONGTERM OPER-PIMCO IB FNMA POOL #0772131 6.000% 11/01/2033 2/3/2004 103.5000 0.000 0.00 -806.25 0.00 DD 02/01/04 3/15/2004 SEC ID: 31404LY46 3/1/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0773944 6.000% 03/01/2034 2/3/2004 103.5000 154,465.000 159,871.27 -159,871.27 0.00 DD 03/01/04 3/15/2004 SEC ID: 31404NZH2 3/1/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0773944 6.000%03/01/2034 2/3/2004 103.5000 0.000 0.00 -360.42 0.00 DD 03/01/04 3/15/2004 SEC ID: 31404NZH2 3/1/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO B NATIONSBANK CORP 7.750%08/15/2004 3/24/2004 102.5910 600,000.000 615,546.00 -615,546.00 0.00 SEC ID: 638585AJ8 3/24/2004 BROKER: CITIGROUP GBL MKTS/SALOMON, 3/24/2004 NEW YORK OCSF07511102: LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 9 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE Dmrn O J D ••O•DCJ[J[I 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost · Amount Net Gain/Loss Type Description Reported Date Base Sharea/Par Base Base Base 1B NATIONSBANK CORP 7.750% 08/15/2004 3/24/2004 102.5910 0.000 0.00 -5,037.50 0.00 SEC ID: 638585AJ8 3/24/2004 BROKER: CITIGROUP GBL MKTS/SALOMON, 3/24/2004 NEW YORK OCSF07511102: LIQUID OPER-PIMCO B U STREASURY NOTES l.625%02/28/2006 DD 3/23/2004 100.2656 17,000,000.000 17,045,156.25 -17,045,156.25 0.00 02/29/04 3/24/2004 SEC ID: 912828CB4 3/23/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO IB U S TREASURY NOTES 1.625% 02/28/2006 DD 3/23/2004 100.2656 0.000 0.00 -18,016.30 0.00 02/29/04 3/24/2004 SEC ID: 912828CB4 3/23/2004 BROKER: BANC OF AMERICA SEC LLC , SAN FRANCISCO OCSF07522202: LONG TERM OPER -PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: 23,399,999.040 23,647,670.00 -23,673,057 .14 0.00 TOTAL FIXED INCOME SECURITIES BASE: 23,399,999.040 23,647,670.00 -23,673,057.14 0.00 TOTAL PURCHASES BASE: 389,885,455.560 390,086,450.92 -390, 111,838.06 0.00 PAY UPS FIXED INCOME SECURITIES U.S. DOLLAR PU FHLMC MULTICLASS MTG SER E3 A VAR RT 3/1/2004 100.0000 6.300 6.30 -6.30 0.00 08/15/2032 DD 12/01 /97 3/1/2004 SEC ID: 3133TCE95 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PU US TREASURY INFLATION INDEX NT 3.375% 1/15/2004 100.0000 76,440.000 76,440.00 -76,440.00 0.00 01/15/2007 DD 01/15/97 1/15/2004 SEC ID: 9128272M3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PU US TREASURY INFLATION INDEX NT 3.625% 1/15/2004 100.0000 16,050.000 16,050.00 -16,050.00 0.00 01/15/2008 DD 01/15/98 1/15/2004 SEC ID: 9128273T7 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 10 Workbench @ Transaction Detail ReportlD: EWB009. Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE D11:11"2 fl ,1n r1n,monr11J 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base PU US TREASURY INFLATION INDEX NT 3.875% 1/15/2004 100.0000 68,510.000 68,510.00 -68,510.00 0.00 01/15/2009 DD 01/ 15/99 1/15/2004 SEC ID: 9128274Y5 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: 161,006.300 161,006.30 -161,006.30 0.00 TOTAL FIXED INCOME SECURITIES BASE: 161,006.300 161,006.30 -161,006.30 0.00 TOTAL PAY UPS BASE: 161,006.300 161,006.30 -161,006.30 0.00 SALES CASH & CASH EQUIVALENTS U.S. DOLLAR s FEDERAL HOME LN MTG CORP DISC MAT 3/24/2004 99.7528 -10,700,000.000 -10,673,547.22 10,673,547.22 0.00 05/18/2004 3/24/2004 SEC ID: 313396WZ2 3/24/2004 BROKER: MORGAN STANLEY & CO INC, NY OCSF07522202: LONG TERM OPER-PIMCO IS FEDERAL HOME LN MTG CORP DISC MAT 3/24/2004 99.7528 0.000 0.00 10,595.97 0.00 05/18/2004 3/24/2004 SEC ID: 313396WZ2 3/24/2004 BROKER: MORGAN STANLEY & CO INC, NY OCSF07522202: LONG TERM OPER-PIMCO s FEDERAL NATL MTG ASSN DISCOUNT MAT 3/24/2004 99.7500 -6,200,000.000 -6, 184,500.00 6,184,500.00 0.00 05/19/2004 3/24/2004 SEC ID: 313588XA8 3/24/2004 BROKER: MORGAN STANLEY & CO INC, NY OCSF07522202: LONG TERM OPER-PIMCO IS FEDERAL NATL MTG ASSN DISCOUNT MAT 3/24/2004 99.7500 0.000 0.00 6,241.33 0.00 05/19/2004 3/24/2004 SEC ID: 313588XA8 3/24/2004 BROKER: MORGAN STANLEY & CO INC, NY OCSF07522202: LONG TERM OPER-PIMCO s CREDIT SUISSE FE REPO 00.980% 03/01/2004 3/1/2004 100.0000 -12,300,000.000 -12,300,000.00 12,300,000.00 0.00 DD02/27/04 3/1/2004 SEC ID: 99416W828 3/1/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 11 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE D:m2 0 OD ooorno•• 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Coat Amount Net Gain/Lou Type Description Reported Date Base Shares/Par Base Base Base IS CREDIT SUISSE FB REPO 00.980% 03/01/2004 3/1/2004 100.0000 0.000 0.00 1,004.50 0.00 DD 02/27 /04 3/1/2004 SEC ID: 99416W828 3/1/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT2 REPO Ol.000%03/02/2004 DD 3/2/2004 100.0000 -12,300,000.000 -12,300,000.00 12,300,000.00 0.00 03/ 01/04 3/2/2004 SEC ID: 99416Y287 3/2/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO O 1.000% 03/02/2004 DD 3/2/2004 100.0000 0.000 0.00 341.67 0.00 03/01/04 3/2/2004 SEC ID: 99416Y287 3/2/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 00.990"/o 03/03/2004 3/3/2004 100.0000 -3,400,000.000 -3,400,000.00 3,400,000.00 0.00 DD 03/02/04 3/3/2004 SEC ID: 994162300 3/3/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO IS CREDIT SUISSE FB REPO 00.990%03/03/2004 3/3/2004 100.0000 0.000 0.00 93.50 0.00 DD 03/02/04 3/3/2004 SEC ID: 994162300 3/3/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO s CREDIT SUISSE FB REPO 00.970% 03/03/2004 3/3/2004 100.0000 -9,300,000.000 -9,300,000.00 9,300,000.00 0.00 DD 03/02/04 3/3/2004 SEC ID: 994162912 3/3/2004 BROK!l:R: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 00.970%03/03/2004 3/3/2004 100.0000 0.000 0.00 250.58 0.00 DD 03/02/04 3/3/2004 SEC JD: 994162912 3/3/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102 : LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 12 Workbench @ Transaction Detail Report ID: EWB009 " Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE DOlll][2 0 OD •••••om1 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Dat:e Price Cost Am.out Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Bue s LEHMAN CAT 2 REPO 00.980% 03/04/2004 DD 3/4/2004 100.0000 -9,300,000.000 -9,300,000.00 9,300,000.00 0.00 03/03/04 3/4/2004 SEC ID: 99417B476 3/4/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 00.980% 03/04/2004 DD 3/4/2004 100.0000 0.000 0.00 253.17 0.00 03/03/04 3/4/2004 SEC ID: 99417B476 3/4/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 00.980% 03/05/2004 3/5/2004 100.0000 -9,300,000.000 -9,300,000.00 9,300,000.00 0.00 DD 03/04/04 3/5/2004 SEC ID: 99417C82 l 3/5/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 00.980%03/05/2004 3/5/2004 100.0000 0.000 0.00 253.17 0.00 DD 03/04/04 3/5/2004 SEC ID: 99417C821 3/5/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00.980%03/08/2004 DD 3/8/2004 100.0000 -9,300,000.000 -9,300,000.00 9,300,000.00 0.00 03/05/04 3/8/2004 SEC ID: 99417E587 3/8/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT2 REPO 00.980%03/08/2004 DD 3/8/2004 100.0000 0.000 0.00 759.50 0.00 03/05/04 3/8/2004 SEC ID: 99417E587 3/8/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 00.990% 03/09/2004 3/9/2004 100.0000 -13,800,000.000 -13 ,800,000.00 13,800,000.00 0.00 DD 03/08/04 3/9/2004 SEC ID: 99417F311 3/9/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF0751 l 102 : LIQUID OPER-PIMCO 4/8/2004 8:34:l 7AM PDT 13 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD 0 cs D-CO NS O LIDA TED 7ITT2 7 ~, n ,In :=mn cmn 3/1/2004 -3/31/2004 Status: FINAL Tnde Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IS CREDIT SUISSEFB REP000.990%03/09/2004 3/9/2004 100.0000 0 .000 0.00 379.50 0 .00 DD 03 /08/04 3/9/2004 SEC ID: 99417F311 BROKER: CREDIT SUISSE FIRST BOSTON 3/9/2004 CORP, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 00.960% 03/10/2004 3/10/2004 100.0000 -14,500,000.000 -14,500,000.00 14,500,000.00 0.00 DD 03/09/04 3/10/2004 SEC ID: 99417H408 3/10/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP,NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE !?B REPO 00,960%03/10/2004 3/10/2004 100.0000 0.000 0.00 386.67 0.00 DD 03/09/04 3/10/2004 SEC ID: 99417H408 3/10/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00.960% 03/11/2004 DD 3/11/2004 100.0000 -14,500,000.000 -14,500,000.00 14,500,000.00 0.00 03/10/04 . 3/11/2004 SEC ID: 994 l7K062 BROKER: LEHMAN GOVT SECS INC, NY 3/ ll/2004 OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 00.960% 03/11/2004 DD 3/11/2004 100.0000 0.000 0.00 386.67 0.00 03/10/04 3/11/2004 SEC ID: 99417K062 3/11/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 00.990% 03/12/2004 3/12/2004 100.0000 -14,500,000.000 -14,500,000.00 14,500,000.00 0.00 DD 03/tl/04 3/12/2004 SEC ID: 99417Ll36 3/12/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 00.990%03/12/2004 3/12/2004 100.0000 0.000 0.00 398.75 0.00 DD 03/ 11/04 3/12/2004 SEC ID: 99417L136 3/12/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 14 Workbench @ Transaction Detail Report ID: EWB009 ' Mellon Reported by Transaction Category Base Currency: USD OCS D-CO NS OLI DATE DtDl!fi2 D :in fJffJ•llCJOD 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base s CREDIT SUISSE FB REPO O 1.000% 03/15/2004 3/15/2004 100.0000 -15,000,000.000 -15,000,000.00 15,000,000.00 0.00 DD 03/12/04 3/15/2004 SEC ID: 99417N01 7 3/15/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 01.000% 03/15/2004 3/15/2004 100.0000 0.000 0.00 1,250.00 0.00 DD 03/12/04 3/15/2004 SEC ID: 99417N01 7 3/15/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 01.050% 03/16/2004 DD 3/16/2004 100.0000 -15,000,000.000 -15,000,000.00 15,000,000.00 0.00 03/15/04 3/16/2004 SEC ID: 99417P798 3/16/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO O 1.050% 03/16/2004 DD 3/16/2004 100.0000 0.000 0.00 437.50 0.00 03/15/04 3/16/2004 • SEC ID: 99417?798 3/16/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT2 REPO 01.000%03/ 17/2004 DD 3/17/2004 100.0000 -15,000,000.000 -15,000,000.00 15,000,000.00 0.00 03/16/04 3/17/2004 SEC ID: 99417R323 3/17/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102 : LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 01.000%03/ 17/2004 DD 3/17/2004 100.0000 0.000 0.00 416.67 0.00 03/16/04 3/17/2004 SEC ID: 99417R323 3/17/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 01.000% 03/18/2004 DD 3/18/2004 100.0000 -15,900,000.000 -15,900,000.00 15,900,000.00 0.00 03/17/04 3/18/2004 SEC ID: 99417S800 3/18/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 15 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE Drnli2 • •• ••••0000 3/1/2004 -3/31/2004 Status: FINAL Tt'ade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IS LEHMAN CAT2 REPO 01.000%03/ 18/2004 DD 3/18/2004 100.0000 0.000 0.00 441.67 0.00 03/17/04 3/18/2004 SEC lD: 994l7S800 3/18/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 01.010% 03/19/2004 3/19/2004 100.0000 -15,900,000.000 -15,900,000.00 15,900,000.00 0.00 DD 03 /18/04 3/19/2004 SEC ID: 99417U201 3/19/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 01.010% 03/19/2004 3/19/2004 100.0000 0.000 0.00 446.08 0.00 DD 03/18/04 3/19/2004 SEC ID: 99417U201 3/19/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102 : LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00.990% 03/22/2004 DD 3/22/2004 100.0000 -15,900,000.000 -15,900,000.00 15,900,000.00 0.00 03/19/04 3/22/2004 SEC ID: 99417V563 3/22/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 00.990% 03/22/2004 DD 3/22/2004 100.0000 0 .000 0.00 1,311.75 0.00 03/19/04 3/22/2004 SEC 10: 99417V563 3/22/2004 BROKER: LEH.MA!:-l GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 01.000%03/23/2004 3/23/2004 100.0000 -15,900,000.000 -15,900,000.00 15,900,000.00 0 .00 DD 03/22/04 3/23/2004 SEC [Q: 99417X015 3/23/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF0751 l 102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO O 1.000% 03/23/2004 3/23/2004 100.0000 0.000 0.00 441.67 0.00 DD 03/22/04 3/23/2004 SEC JD: 99417X015 3/23/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102 : LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 16 W~rkbench @ Transaction Detail Report ID: EWB009 ' Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDillI2 • OD DCJ'.JDO OCIIJ 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Losa Type Description Reported Date Base Shares/Par Base Base Base s CREDIT SUISSE FB REPO 00.980% 03/24/2004 3/24/2004 100.0000 -15,900,000 000 -15,900,000.00 15,900,000.00 0.00 DD 03/23/04 3/24/2004 SEC ID: 99417Y393 3/24/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF0751 l 102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 00.980%03/24/2004 3/24/2004 100.0000 0.000 0.00 432.83 0.00 DD 03/23/04 3/24/2004 SEC ID: 99417Y393 3/24/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00.970% 03/25/2004 DD 3/25/2004 100.0000 -15,900,000.000 -15,900,000.00 15,900,000.00 0.00 03/24/04 3/25/2004 SEC ID: 99418A501 3/25/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 00.970% 03/25/2004 DD 3/25/2004 100.0000 0.000 0.00 428.42 0.00 03/24/04 3/25/2004 SEC ID: 99418A501 3/25/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 00.990%03/26/2004 3/26/2004 100.0000 -15,300,000.000 -15,300,000.00 15,300,000.00 0.00 DD 03/25/04 3/26/2004 SEC ID: 99418B707 3/26/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 00.990%03/26/2004 3/26/2004 100.0000 0.000 0.00 420.75 0.00 DD 03/25/04 3/26/2004 SEC ID: 99418B707 3/26/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 00.980% 03/29/2004 3/29/2004 100.0000 -15,300,000.000 -15,300,000.00 15,300,000.00 0.00 DD 03/26/04 3/29/2004 SEC ID: 99418C192 3/29/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 17 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DODDI2 D DD •••••CJD• 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Sase Base IS CREDlT SUISSE FB REPO 00.980% 03/29/2004 3/29/2004 100.0000 0.000 0.00 1,249.50 0.00 DD 03/26/04 3/29/2004 SEC [O; 99418Cl92 3/29/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO O 1.000% 03/30/2004 3/30/2004 100.0000 -15,300,000.000 -15,300,000.00 15,300,000.00 0.00 DD 03/29/04 3/30/2004 SEC tO: 99418E669 3/30/2004 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUJSSE l?B REPO Ol.000%03/30/2004 3/30/2004 100.0000 0.000 0.00 425.00 0.00 DD 03/29/04 3/30/2004 SEC ID: 99418E669 3/30/2004 BROKER: CREDlT SUlSSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 00.980% 03/31/2004 DD 3/31/2004 100.0000 -15,300,000.000 -15,300,000.00 15,300,000.00 0.00 03/30/04 3/31/2004 SEC lD: 994180441 3/31/2004 BROKER LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT2 REPO 00.-980%03/31/2004 DD 3/31/2004 100.0000 0.000 0.00 416.50 0.00 03/30/04 3/31/2004 SEC ID: 99418044 l 3/31/2004 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511 l02: LIQUID OPER-PIMCO s DREYFUS TREASURY CASH MGMT 3/2/2004 1.0000 -105,901.510 -105,901.51 105,901.51 0.00 SEC ID: 996085247 3/2/2004 OCSF07522202: LONG TERM OPER-PIMCO 3/2/2004 s DREYFUS TREASURY CASH MGMT 3/3/2004 1.0000 -184,028.080 -184,028.08 184,028.08 0.00 SEC ID: 996085247 3/3/2004 OCSF07522202: LONG TERM OPER-PIMCO 3/3/2004 s DREYFUS TREASURY CASH MGMT 3/11/2004 1.0000 -310.930 -310.93 310.93 0.00 SEC ID: 996085247 3/11/2004 OCSF07511102: LIQUID OPER-PIMCO 3/11/2004 4/8/2004 8:34:17AM PDT 18 Workbench ® Transaction Detail Report ID: EWB009 . Mellon Reported by Transaction Category Base Currency: USD OCS D-CONSOLI DATE D71llii"2 fl ;-m ll••D•C:][J• 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Coat Amount Net Gahl/Loss Type Description Reported Date Base Shares/Par Base Base Base s DREYFUS TREASURY CASH MGMT 3/19/2004 1.0000 -287,768.170 -287,768.17 287,768.17 0.00 SEC ID: 996085247 3/19/2004 OCSF07522202: LONG TERM OPER-PIMCO 3/19/2004 s DREYFUS TREASURY CASH MGMT 3/24/2004 1.0000 -188,288.030 -188,288.03 188,288.03 0.00 SEC ID: 996085247 3/24/2004 OCSF07522202: LONG TERM OPER-PIMCO 3/24/2004 s DREYFUS TREASURY CASH MGMT 3/25/2004 1.0000 -15,299,571.580 -15,299,571.58 15,299,571.58 0.00 SEC ID: 996085247 3/25/2004 OCSF07511102: LIQUID OPER-PIMCO 3/25/2004 s DREYFUS TREASURY CASH MGMT 3/29/2004 1.0000 -997,362. 780 -997,362.78 997,362.78 0.00 SEC ID: 996085247 3/29/2004 OCSF07522202: LONG TERM OPER-PIMCO 3/29/2004 TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: -358,063,231.080 -358,021,278.30 358,050,741.62 0.00 TOTAL CASH & CASH EQUIVALENTS.BASE: -358,063,231.080 -358,021,278.30 358,050,741.62 0.00 FIXED INCOME SECURITIES U.S. DOLLAR s COMMIT TO PUR FNMA SF MTG 5 .500% 3/10/2004 103.0234 -700,000.000 -715,968.75 721,164.06 5,195.31 03/01/2034 DD 03/01 /04 3/15/2004 SEC ID: 01F052631 3/10/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO s COMMIT TO PUR FNMA SF MTG 5.500% 3/10/2004 103.0234 -2, 100,000.000 -2,147,906.25 2,163,492.18 15,585.93 03/01/2034 DD 03/01 /04 3/15/2004 SEC ID: 01F052631 3/10/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO SC COMMIT TO PUR FNMA SF MTG 6 .000% 2/27/2004 103.8359 3,000,000.000 3,108,671.87 -3,115,078.12 -6,406.25 04/01/2034 DD 04/01 /04 4/15/2004 SEC ID: 01F060642 3/1/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 19 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE Dom:2 0 JO OOOOOiJDIJ 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Lou Type Description Reported Date Base Shares/Par Base Base Base s COMMIT TO PUR FNMA SF MTG 6.000% 2/27/2004 103.8359 -1,000,000.000 -1,036,223.96 1,038,359.37 2,135.41 04/01/2034 DD 04/01 /04 4/15/2004 SEC ID: 01F060642 3/1/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO s COMMIT TO PUR FNMA SF MTG 6 .000% 2/27/2004 103.8359 -2,000,000.000 -2,072,447.91 2,076,718.75 4,270.84 04/01/2034 DD 04/01 /04 4/15/2004 SEC ID: 01F060642 3/1/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202 : LONG TERM OPER-PIMCO s COMMIT TO PUR FNMA SF MTG 6 .000% 3/24/2004 103.8359 -2,000,000.000 -2,076, 718. 75 2,076,718.75 0.00 04/01/2034 DD 04/01 /04 4/15/2004 SEC ID: 01F060642 3/24/2004 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONGTERM OPER-PIMCO s FNMA POOL #0763307 6.000% 04/01/2034 2/27/2004 104.1797 -500,000.000 -517,500.00 520,898.43 3,398.43 DD 03/01/04 3/15/2004 SEC ID: 31404BAG7 3/1/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONGTERM OPER-PIMCO IS FNMA POOL #0763307 6.000% 04/01/2034 2/27/2004 104.1797 0 .000 0 .00 1,166.67 0.00 DD 03/01/04 3/15/2004 SEC ID: 314048AG7 3/1/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO s FNMA POOL#0772131 6.000% 11/01/2033 2/27/2004 104.1797 -345,534.040 -357,627.73 359,976.28 2,348.55 DD 02/01/04 3/15/2004 SEC ID: 31404LY46 3/1/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO IS FNMA POOL#0772131 6.000% 11/01/2033 2/27/2004 104.1797 0.000 0.00 806.25 0.00 DD 02/01/04 3/15/2004 SEC ID: 31404LY46 3/1/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 20 Workbench @ Transaction Detail Report ID: EWB009 ' Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJillll2 0 OD DDODDO•o 3/1/2004 -3/31/2004 Status: FINAL Tri.de Date - Tran Settle Date Price Coat Amount Net Gahl/Loas Type Description Reported Date Base Shares/Par Base Base Base - s FNMA POOL #0773944 6.000% 03/01/2034 2/27/2004 104.1797 -154,465.000 -159,871.27 160,921.15 1,049.88 DD 03/01/04 3/15/2004 SEC ID: 31404NZH2 3/1/2004 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO IS FNMA POOL#0773944 6.000%03/01/2034 2/27/2004 104.1797 0.000 0.00 360.42 0.00 DD 03/01/04 3/15/2004 SEC ID: 31404NZH2 3/1/2004 BROKE.R: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07522202: LONG TERM OPER-PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: -5, 799,999.040 -5,975,592. 75 6,005,504.19 27,578.10 TOTAL FIXED INCOME SECURITIES BASE: -5, 799,999.040 -5,975,592. 75 6,005,504.19 27,578.10 TOTAL SALES BASE: -363,863,230.120 -363,996,871.05 364,056,245.81 27,578.10 PRINCIPAL PAYMENTS FIXED INCOME SECURITIES U.S. DOLLAR PD WMP/HUNTOON PAIGE #000-11150 7.500% 3/1/2004 100.0000 -785.710 -768.65 785.71 17.06 12/01/2030 DD 10/21/99 3/1/2004 SEC ID: 302998GE3 3/1/2004 OCSF07522202 : LONGTERM OPER-PIMCO PD FHLMC GROUP#G4-0353 7.500% 10/01/2004 3/1/2004 100.0000 -64.250 -65.88 64.25 -1.63 DD 03/01/99 3/1/2004 SEC ID: 3128D8MA2 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO PDC FHLMC MULTICLASS MTG SER E3 A VAR RT 2/1/2004 100.0000 23,102.150 23,126.76 -23,102.15 24.61 08/15/2032 DD 12/01 /97 2/1/2004 SEC ID: 3133TCE95 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FHLMC MULTICLASS MTG SER E3 A VAR RT 2/1/2004 100.0000 -23, 108.450 -23,133.07 23,108.45 -24.62 08/15/2032 DD 12/01 /97 2/1/2004 SEC ID: 3133TCE95 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 21 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DODII2 7 lrl rlfl77W!n• 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base PD FHLMC MULTICLASS MTG SER E3 A VAR RT 3/1/2004 100.0000 -22,855.950 -22,880.30 22,855.95 -24.35 08/15/2032 DD 12/01 /97 3/1/2004 SEC ID: 3133TCE95 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FHLMC GROUP #78-6064 6.384% 01/01/2028 3/1/2004 100.0000 -179.660 -175.28 179.66 4.38 DD 12/01/97 3/1/2004 SEC ID: 31348SWZ3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0254510 5.000% 11/01/2017 3/1/2004 100.0000 -15,616.840 -16,085.35 15,616.84 -468.51 DD 10/01/02 3/1/2004 SEC ID: 31371KVB4 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO PD FNMA POOL #0254631 5.000% 02/01/2018 3/1/2004 100.0000 -2,661.200 -2,741.04 2,661.20 -79.84 DD 01/01/03 3/1/2004 SEC ID: 31371KY47 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0254760 5.000% 06/01/2018 3/1/2004 100.0000 -3,060.810 -3,152.63 3,060.81 -91.82 DD 05/01/03 3/1/2004 SEC ID: 31371 K5V9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0254866 5.000% 09/01/2018 3/1/2004 100.0000 -980.250 -1,009.66 980.25 -29.41 DD 08/01/03 3/1/2004 SEC ID: 31371LCB3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0254953 5.000% 11/01/2018 3/1/2004 100.0000 -8,409.360 -8,517.10 8,409.36 -107.74 DD 10/01/03 3/1/2004 SEC ID: 31371LE21 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0254987 5.000% 12/01/2018 3/1/2004 100.0000 -13,735.140 -13,911.12 13,735.14 -175.98 DD 11 /01/03 3/1/2004 SEC ID: 31371 LF46 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0323980 6.000% 04/01/2014 3/1/2004 100.0000 -6,545.230 -6,833.63 6,545.23 -288.40 DD 09/01/99 3/1/2004 SEC ID: 31374T2MO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 22 Workbench @ Transaction Detail Report ID: EWB009 ' . Mellon Reported by Transaction Category Base Currency: USD OCSD--CONSOLI DATE Dcm:2 0 OD 000007 rJO 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Ainount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base PD FNMA POOL #0357328 5.000% 01/01/2018 3/1/2004 100.0000 -875.640 -901.91 875.64 -26.27 DD 01/01/03 3/1/2004 SEC ID: 31376J4M8 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0357430 5.000% 09/01/2018 3/1/2004 100.0000 -23,755.980 -24,023.23 23,755.98 -267.25 DD 09/01/03 3/1/2004 SEC ID: 31376KA71 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0456482 6.000% 02/01/2014 3/1/2004 100.0000 -536.230 -559.86 536.23 -23.63 DD 02/01/99 3/1/2004 SEC ID: 31381CCT2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0509649 6.000% 09/01/2014 3/1/2004 100.0000 -25,563.550 -26,689.94 25,563.55 -1,126.39 DD 09/01/99 3/1/2004 SEC ID: 31383QEWO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0535451 6.000% 06/01/2015 3/1/2004 100.0000 -4,492.380 -4,690.33 4,492.38 -197.95 DD 07 /01/00 3/1/2004 SEC ID: 31384 VZQ8 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO PD FNMA POOL #0535672 6.000% 01/01/2016 3/1/2004 100.0000 -116,353.410 -121,480.23 116,353.41 -5,126.82 DD 12/01/00 3/1/2004 SEC ID: 31384WCH1 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0545296 6.000% 11/01/2016 3/1/2004 100.0000 -41,371.350 -43,194.28 41,371.35 -1,822.93 DD 10/01/01 3/1/2004 SEC ID: 31385HXZO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0545580 6.000%03/01/2017 3/1/2004 100.0000 -5,411.330 -5,649.77 5,411.33 -238.44 DD 03/01/02 3/1/2004 SEC ID: 31385JCR7 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0555101 6.000% 10/01/2017 3/1/2004 100.0000 -6,042.820 -6,309.08 6,042.82 -266.26 DD 11 /01/02 3/1/2004 SEC ID: 31385WU23 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 23 Workbench @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDOIJII2] ]0 ••][][JJnr-1 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gabi/Loss Type Description Reported Date Base Shares/Par Base Base Base PD FNMA POOL#0555363 5.000%04/01/2018 3/1/2004 100.0000 -6,899.760 -7,106.75 6,899.76 -206.99 DD 03/01/03 3/1/2004 SEC ID: 31385W5Y 1 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0555453 5.000% 05/01/2018 3/1/2004 100.0000 -616.330 -624.23 616.33 -7.90 DD 04/01/03 3/1/2004 SEC ID: 31385XBW6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0555545 5.000%06/01/2018 3/1/2004 100.0000 -6,534.940 -6,730.99 6,534.94 -196.05 DD 05/01/03 3/1/2004 SEC ID: 31385XES2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0555621 5.000% 07/01/2018 3/1/2004 100.0000 -22,302.960 -22,553.87 22,302.96 -250.91 DD 06/01/03 3/1/2004 SEC ID: 31385XG68 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0576386 6.000% 05/01/2016 3/1/2004 100.0000 -357.930 -373.70 357.93 -15.77 DD 05/01/01 3/1/2004 SEC ID: 31386XJ72 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0576739 6.000%04/01/2016 3/1/2004 100.0000 -20,647.970 -21,557.77 20,647.97 -909.80 DD 04/01/01 3/1/2004 SEC ID: 31386.XV86 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0580888 6.000% 05 /01/2016 3/1/2004 100.0000 -7,380.830 -7,706.05 7,380.83 -325.22 DD 05/01/01 3/1/2004 SEC ID: 31387DJ91 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0594002 6.000% 07/01/2016 3/1/2004 100.0000 -14,868.210 -15,523.34 14,868.21 -655.13 DD 07 /01/01 3/1/2004 SEC ID: 31387T3K8 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0597376 6.000%09/01/2016 3/1/2004 100.0000 -1,454.280 -1,518.36 1,454.28 -64.08 DD 08/01/01 3/1/2004 SEC ID: 31387XT96 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 24 Workbench @ Transaction Detail Report ID: EWB009' Mellon Reported by Transaction Category Base Currency: USD ocs D-CONSOLI DATE D'llIDf27 no ••ornnm 3/1/2004 -3/31/2004 Status: FINAL Trade Date- Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base -- PD FNMA POOL#0605259 6.000%09/01/2016 3/1/2004 100.0000 -8,130.590 -8,488.84 8,130.59 -358.25 DD 09/01/01 3/1/2004 SEC ID: 31388HMG1 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0608366 6.000% 10/01/2016 3/1/2004 100.0000 -9,318.740 -9,729.35 9,318.74 -410.61 DD 09/01/01 3/1/2004 SEC ID: 31388LZ78 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0616734 6.000% 12/01/2016 3/1/2004 100.0000 -720.800 -752.56 720.80 -31.76 DD 12/01/01 3/1/2004 SEC ID: 31388WEF9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0630812 6.000%02/01/2017 3/1/2004 100.0000 -17,578.780 -18,353.35 17,578.78 -774.57 DD 02/01/02 3/1/2004 SEC ID: 31389NYH2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0632376 6.000%07/01/2017 3/1/2004 100.0000 -30,035.340 -31,358.77 30,035.34 -1,323.43 DD 07 /01/02 3/1/2004 SEC ID: 31389QQ50 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0653116 6.000% 07/01/2017 3/1/2004 100.0000 -19,179.570 -20,024.67 19,179.57 -845.10 DD 07 /01/02 3/1/2004 SEC ID: 31390QSD8 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0673280 6.000% 08/01/2017 3/1/2004 100.0000 -914.570 -954.87 914.57 -40.30 DD 11/01/02 3/1/2004 SEC ID: 31391P6R2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0681309 5.000% 02/01/2018 3/1/2004 100.0000 -7,871.220 -8,107.36 7,871.22 -236.14 DD 02/01/03 3/1/2004 SEC ID: 31391Y3S4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0681334 5.000% 02/01/2018 3/1/2004 100.0000 -835.080 -860.13 835.08 -25.05 DD 01/01/03 3/1/2004 SEC ID: 31391 Y4Tl 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 25 Workbench 1-- @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDAT E D0llll!2 0 OD ••o••::mo 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base PD FNMA POOL#0684908 5.000%06/01/2018 3/1/2004 100.0000 -3,655.510 -3,702.35 3,655.51 -46.84 DD 05/01/03 3/1/2004 SEC ID: 31400D3Rl 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO PD FNMA POOL #0685200 5.000% 03/01/2018 3/1/2004 100.0000 -4,491.140 -4,548.68 4 ,491.14 -57.54 DD 03/01/03 3/1/2004 SEC ID: 31400EGH7 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0685665 5.000% 02/01/2018 3/1/2004 100.0000 -625.540 -644.31 625.54 -18.77 DD 02/01/03 3/1/2004 SEC ID: 31400EW22 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0686318 5.000% 03/01/2018 3/1/2004 100.0000 -5,539.910 -5,706.11 5,539.91 -166.20 DD 03/01/03 3/1/2004 SEC ID: 31400FPB7 3/1/2004 OCSF07522202 : LONG TERM OPER-PJMCO PD FNMA POOL #0688739 5.000% 06/01/2018 3/1/2004 100.0000 -536.220 -552.31 536.22 -16.09 DD 06/01/03 3/1/2004 SEC ID: 31400JEL9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0689859 5.000% 05/01/2018 3/1/2004 100.0000 -7,012.610 -7,102.46 7,012.61 -89.85 DD 05/01/03 3/1/2004 SEC ID: 31400KMG8 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO PD FNMA POOL #0693834 5.000% 03/01/2018 3/1/2004 100.0000 -19,536.500 -20,122.60 19,536.50 -586.10 DD 03/01/03 3/1/2004 SEC ID: 31400PY74 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0695852 5.000% 05/01/2018 3/1/2004 100.0000 -4,691.660 -4,832.41 4,691.66 -140.75 DD 05/01/03 3/1/2004 SEC ID: 31400SBVO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0695889 5.000% 05/01/2018 3/1/2004 100.0000 -11,080.140 -11,412.54 11,080.14 -332.40 DD 05/01/03 3/1/2004 SEC ID: 31400SC23 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 26 Workbench @ Transaction Detail Report ID: EWB009' Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATED1flfJf2 ,-1 -ir-1 r-1177,1rnm1 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base -Base PD FNMA POOL#0697026 5.000%05/01/2018 3/1/2004 100.0000 -625.400 -644.16 625.40 -18.76 DD 04/01/03 3/1/2004 SEC ID: 31400TLF2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0698939 6.000% 09/01/2017 3/1/2004 100.0000 -539.270 -563.03 539.27 -23.76 DD 03/01/03 3/1/2004 SEC ID: 31400VPY2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0702210 5.000%05/01/2018 3/1/2004 100.0000 -14,875.250 -15,321.51 14,875.25 -446.26 DD 05/01/03 3/1/2004 SEC ID: 31401ADP9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0702328 5.000% 05 /01/2018 3/1/2004 100.0000 -1,115.400 -1,129.69 1,115.40 -14.29 DD 04/01/03 3/1/2004 SEC ID: 31401AHD2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0703195 6.000% 01/01/2017 3/1/2004 100.0000 -872.780 -911.24 872.78 -38.46 DD 04/01/03 3/1/2004 SEC ID: 31401BGC3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0709148 5.000% 06/01/2018 3/1/2004 100.0000 -1,402.840 -1,444.93 1,402.84 -42.09 DD 06/01/03 3/1/2004 SEC ID: 31401HZM7 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0709360 5.000% 07/01/2018 3/1/2004 100.0000 -5,063.410 -5,128.28 5,063.41 -64.87 DD 06/01/03 3/1/2004 SEC ID: 31401JB56 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0709826 5.000%06/01/2018 3/1/2004 100.0000 -5,081.380 -5,146.49 5,081.38 -65.11 DD 06/01/03 3/1/2004 SEC ID: 31401JSP4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0709917 5.000% 06/01/2018 3/1/2004 100.0000 -3,020.990 -3,059.70 3,020.99 -38.71 DD 06/01/03 3/1/2004 SEC ID: 31401JVJ4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 27 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDnnnrn c7 "lrl r1rnu•,1rm 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Bale PD FNMA POOL#0709963 5.000%06/01/2018 3/1/2004 100.0000 -105.470 -106.82 105.47 -1.35 DD 06/01/03 3/1/2004 SEC ID: 31401JWYO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0710235 5.000% 06/01/2018 3/1/2004 100.0000 -18,300.120 -18,849.12 18,300.12 -549.00 DD 06/01/03 3/1/2004 SEC ID: 31401KBC8 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0713344 5.000% 06/01/2018 3/1/2004 100.0000 -1,680.600 -1,731.02 1,680.60 -50.42 DD 06/01/03 3/1/2004 SEC ID: 31401NP52 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0713365 5.000%07/01/2018 3/1/2004 100.0000 -5,975.520 -6,052.08 5,975.52 -76.56 DD 07 /01/03 3/1/2004 SEC ID: 31401NQS1 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0720319 5.000% 07 /01/2018 3/1/2004 100.0000 -54,800.430 -55,502.56 54,800.43 -702.13 DD 07 /01/03 3/1/2004 SEC ID: 31401WG45 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0720369 5.000% 06/01/2018 3/1/2004 100.0000 -35,072.740 -36,124.92 35,072.74 -1,052.18 DD 06/01/03 3/1/2004 SEC ID: 31401 WJNO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0721629 5.000% 07/01/2018 3/1/2004 100.0000 -3,848.960 -3,964.43 3,848.96 -115.47 DD 06/01/03 3/1/2004 SEC ID: 31401XVW4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0723487 5.000% 06/01/2018 3/1/2004 100.0000 -967.250 -978.13 967.25 -10.88 DD 06/01/03 3/1/2004 SEC ID: 31402AXQ4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0729601 5.000% 07/01/2018 3/1/2004 100.0000 -5,235.540 -5,302.62 5,235.54 -67.08 DD 07 /01/03 3/1/2004 SEC ID: 31402HRW3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 28 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE DD1]]2 D DO •DD•[JO[J[l 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Coat Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base . Base PD FNMA POOL #0732873 5.000% 11/01/2018 3/1/2004 100.0000 -135.190 -136.92 135.19 -1.73 DD 10/01/03 3/1/2004 SEC ID: 31402MFN5 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0737130 5.000% 10/01/2018 3/1/2004 100.0000 -14,745.290 -14,934.21 14,745.29 -188.92 DD 10/01/03 3/1/2004 SEC ID: 31402S4P9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0738211 5.000% 10/01/2018 3/1/2004 100.0000 -10,572.030 -10,707.48 10,572.03 -135.45 DD 10/01/03 3/1/2004 SEC ID: 31402UDQ2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0738487 5.000% 10/01/2018 3/1/2004 100.0000 -4,851.620 -4,913.78 4,851.62 -62.16 DD 10/01/03 3/1/2004 SEC ID: 31402UNC2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0740471 5.000% 10/01/2018 3/1/2004 100.0000 -3,619.600 -3,665.98 3,619.60 -46.38 DD 10/01/03 3/1/2004 SEC ID: 31402Wf40 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0740748 5.000% 10/01/2018 3/1/2004 100.0000 -3,523.890 -3,569.04 3,523.89 -45.15 DD 11/01/03 3/1/2004 SEC ID: 31402W5H7 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0743868 5.000% 11/01/2018 3/1/2004 100.0000 -720.550 -729.78 720.55 -9.23 DD 10/01/03 3/1/2004 SEC ID: 31403BMR1 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0744008 5.000% 07/01/2018 3/1/2004 100.0000 -5,247.670 -5,314.91 5,247.67 -67.24 DD 09/01/03 3/1/2004 SEC ID: 31403BR54 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0744316 5.000% 09/01/2018 3/1/2004 100.0000 -2,579.680 -2,612.73 2,579.68 -33.05 DD 09/01/03 3/1/2004 SEC ID: 31403B3Z4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 29 Workbench @ Transaction Detail ReportlD: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD--CONSOLIDATE D'l[]ITT? ,-1 ,7 ,1 •n,1n111nr1 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base PD FNMA POOL #0747914 5.000% 11/01/2018 3/1/2004 100.0000 -1,717.410 -1,739.41 1,717.41 -22.00 DD 11/01/03 3/1/2004 SEC ID: 31403F3XO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0748400 5.000% 08/01/2018 3/1/2004 100.0000 -1,014.580 -1,027.58 1,014.58 -13.00 DD 09/01/03 3/1/2004 SEC ID: 3 l403GNR9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL#0748899 5.000% 12/01/2018 3/1/2004 100.0000 -13,157.950 -13,326.54 13,157.95 -168.59 DD 11/01/03 3/1/2004 SEC ID: 31403G7LO 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO PD FNMA POOL#0750377 5.000% 11/01/2018 3/1/2004 100.0000 -17,503.510 -17,727.77 17,503.51 -224.26 DD 11/01/03 3/1/2004 SEC ID: 31403JUA2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0750380 5.000% 11/01/2018 3/1/2004 100.0000 -53,508.260 -54,193.83 53,508.26 -685.57 DD 11/01/03 3/1/2004 SEC ID: 31403JUD6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0750445 5.000% 11/01/2018 3/1/2004 100.0000 -750.020 -759.63 750.02 -9.61 DD 11/01/03 3/1/2004 SEC ID: 3 l 403JWE2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0751960 5.000% 12/01/2018 3/1/2004 100.0000 -16,977.040 -17,194.56 16,977.04 -217.52 DD 11/01/03 3/1/2004 SEC ID: 31403LMH1 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0753425 5.000% 11/01/2018 3/1/2004 100.0000 -5,925.120 -5,993.63 5,925.12 -68.51 DD 11 /01/03 3/1/2004 SEC ID: 31403NA23 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0755165 5.000% 12/01/2018 3/1/2004 100.0000 -17,724.340 -17,951.43 17,724.34 -227.09 DD 11 /01/03 3/1/2004 SEC ID: 31403Q6A3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 30 Workbench @ Transaction Detail ReportID: EWB009' ~ Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATED,lflill2 O 717171TJnWlnr7 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gabf/Loss Type Description Reported Date Base Shares/Par Base Base Base PD FNMA POOL#0756372 5.000% 11/01/2018 3/1/2004 100.0000 -4,033.740 -4,080.38 4,033.74 -46.64 DD 11/01/03 3/1/2004 SEC ID: 31403SJR8 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0596612 6.500% 09/15/2032 3/1/2004 100.0000 -335.100 -351.70 335.10 -16.60 DD 09/01/02 3/1/2004 SEC ID: 36200BYH4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0569358 6.500% 04/15/2032 3/1/2004 100.0000 -56,487.940 -57,811.88 56,487.94 -1,323.94 DD 04/01/02 3/1/2004 SEC ID: 36200QQK3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL #0569685 6. 500% 02/15/2032 3/1/2004 100.0000 -1,968.620 -2,066.13 1,968.62 -97.51 DD 02/01/02 3/1/2004 SEC ID: 36200Q2S2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0570019 6.500% 07/15/2032 3/1/2004 100.0000 -3,966.870 -4,163.35 3,966.87 -196.48 DD 07 /01/02 3/1/2004 SEC ID: 36200RG48 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0574323 6.500% 12/15/2031 3/1/2004 100.0000 -40,046.680 -42,030.24 40,046.68 -1,983.56 DD 12/01/01 3/1/2004 SEC ID: 36200WAY7 3/1/2004 OCSF07522202: LONGTERM OPER-PIMCO PD GNMA POOL#0575364 6.500% 11/15/2031 3/1/2004 100.0000 -3,796.200 -3,984.23 3,796.20 -188.03 DD 11/01/01 3/1/2004 SEC ID: 36200XFD6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0587117 6.500% 06/15/2032 3/1/2004 100.0000 -603.250 -633.13 603.25 -29.88 DD 06/01/02 3/1/2004 SEC ID: 36201MG22 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0587439 6.500% 11/15/2032 3/1/2004 100.0000 -1,671.810 -1,754.62 1,671.81 -82.81 DD 12/01/02 3/1/2004 SEC ID: 36201MS45 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 31 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE DlflfF2 7 7n nrnnrnrn1 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Baae PD GNMA POOL #0421389 6.500% 04/15/2026 3/1/2004 100.0000 -667.340 -700.39 667.34 -33.05 DD 04/01/96 3/1/2004 SEC ID: 36206 UC23 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0438057 6.000% 05/15/2028 3/1/2004 100.0000 -26.640 -25.29 26.64 1.35 DD 05/01/98 3/1/2004 SEC ID: 36207PTN9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0449851 6.500% 01/15/2028 3/1/2004 100.0000 -59.990 -62.96 59.99 -2.97 DD 01/01/98 3/1/2004 SEC ID: 36208FWLO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0457814 6.000% 10/15/2028 3/1/2004 100.0000 -1,447.170 -1,373.68 1,447.17 73.49 DD 10/01/98 3/1/2004 SEC ID: 36208QSB3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0465546 6.000% 08/15/2028 3/1/2004 100.0000 -845.250 -802.33 845.25 42.92 DD 08/01/98 3/1/2004 SEC ID: 36209AET3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0465555 6.000% 09/15/2028 3/1/2004 100.0000 -921.450 -874.66 921.45 46.79 DD 09/01/98 3/1/2004 SEC ID: 36209AE48 3/1/2004 OCSF07522202: LONGTERM OPER-PIMCO PD GNMA POOL#0466845 6.500% 06/15/2028 3/1/2004 100.0000 -5,450.600 -5,720.58 5,450.60 -269.98 DD 06/01/98 3/1/2004 SEC ID: 36209BTA6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0467279 6.000% 10/15/2028 3/1/2004 100.0000 -34.110 -32.38 34.11 1.73 DD 10/01/98 3/1/2004 SEC ID: 36209CCQ7 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0467286 6.000% 10/15/2028 3/1/2004 100.0000 -553.320 -525.22 553.32 28.10 DD 10/01/98 3/1/2004 SEC ID: 36209CCX2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 32 Workbench @ Transaction Detail ReportID: EWB009 . Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDODIB2 '.J OD •••••••IJ 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base PD GNMA POOL #0468052 6. 500% 07/15/2028 3/1/2004 100.0000 -404.870 -424.92 404.87 -20.05 DD 07 /01/98 3/1/2004 SEC ID: 36209C5M4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0468330 6.000% 05/15/2028 3/1/2004 100.0000 -34.920 -33.15 34.92 1.77 DD 05/01/98 3/1/2004 SEC ID: 36209DHF4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0468339 6.000% 08/15/2028 3/1/2004 100.0000 -514.730 -488.59 514.73 26.14 DD 08/01/98 3/1/2004 SEC ID: 36209DHQO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0469688 6.000% 11/15/2028 3/1/2004 100.0000 -591 .270 -561.24 591.27 30.03 DD 11/01/98 3/1/2004 SEC ID: 36209EXR8 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL #04 76041 6. 500% 06/15/2028 3/1/2004 100.0000 -265.220 -277.94 265.22 -12.72 DD 06/01/98 3/1/2004 SEC ID: 36209MZE7 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO PD GNMA POOL#0478626 6.500% 01/15/2029 3/1/2004 100.0000 -214.850 -225.16 214.85 -10.31 DD 01 /01/99 3/1/2004 SEC ID: 36209QVT9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0480598 6.500% 10/15/2028 3/1/2004 100.0000 -167.750 -175.80 167.75 -8.05 DD 10/01/98 3/1/2004 SEC ID: 36209S3F6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL #0483452 6.000% 09/15/2028 3/1/2004 100.0000 -19.500 -18.51 19.50 0.99 DD 09/01/98 3/1/2004 SEC ID: 36209WBV3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0485527 6.500% 06/15/2031 3/1/2004 100.0000 -21,085.370 -22,129.75 21,085.37 -1,044.38 DD 06/01/01 3/1/2004 SEC ID: 36209YLG 1 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 33 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDm:rn7 l[lnn,-1f11TJn• 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type DescrlptJon Reported Date Base Shares/Par Base Base Base PD GNMA POOL#0485610 6.500% 07/15/2031 3/1/2004 100.0000 -16,063.860 -16,859.52 16,063.86 -795.66 DD 07 /01/01 3/1/2004 SEC ID: 36209YN38 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0485682 6.500% 08/15/2031 3/1/2004 100.0000 -4,822.040 -5,060.88 4,822.04 -238.84 DD 08/01/01 3/1/2004 SEC ID: 36209YRB6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL #0485703 6. 500% 08/15/2031 3/1/2004 100.0000 -12,242.300 -12,848.68 12,242.30 -606.38 DD 08/01/01 3/1/2004 SEC ID: 36209YRY6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL #0486720 6.000% 12/15/2028 3/1/2004 100.0000 -548.560 -520.70 548.56 27.86 DD 12/01/98 3/1/2004 SEC ID: 36210AVM6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0491103 6.000% 01/15/2029 3/1/2004 100.0000 -4,046.880 -3,841.37 4,046.88 205.51 DD 01/01/99 3/1/2004 SEC ID: 36210FRY4 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO PD GNMA POOL#0496461 6.000% 01/15/2029 3/1/2004 100.0000 -14,577.640 -13,837.37 14,577.64 740.27 DD 01/01/99 3/1/2004 SEC ID: 36210MQN4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0497343 6.000% 12/15/2028 3/1/2004 100.0000 -1 ,541.360 -1,463.09 1,541.36 78.27 DD 12/01/98 3/1/2004 SEC ID: 36210NP45 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0499153 6.000% 02/15/2029 3/1/2004 100.0000 -18.010 -17.10 18.01 0.91 DD 02/01/99 3/1/2004 SEC ID: 36210QQE5 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0500917 6.000% 04/15/2029 3/1/2004 100.0000 -969.420 -920.19 969.42 49.23 DD 04/01/99 3/1/2004 SEC ID: 36210SPAO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 34 Workbench @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD--CONSOLIDATE DOlll][2 J JO ••J •O~JDD 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base PD GNMA POOL#0503388 6.000% 03/15/2029 3/1/2004 100.0000 -17,350.120 -16,469.06 17,350.12 881.06 DD 03/01/99 3/1/2004 SEC ID: 36210VF55 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0506636 6.000% 04/15/2029 3/1/2004 100.0000 -1,606.460 -1,524.88 1,606.46 81.58 DD 04/01/99 3/1/2004 SEC ID: 36210YY90 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0512235 6.500% 11/15/2029 3/1/2004 100.0000 -15.260 -16.02 15.26 -0.76 DD 11 /01/99 3/1/2004 SEC ID: 36211 GBC6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0514326 6.500% 07/15/2029 3/1/2004 100.0000 -277.310 -290.61 277.31 -13.30 DD 07 /01/99 3/1/2004 SEC ID: 36211JLF2 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0530053 6.500% 04/15/2031 3/1/2004 100.0000 -789.370 -828.47 789.37 -39.10 DD 04/01/01 3/1/2004 SEC ID: 36212CZS3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0537885 6.500% 02/15/2031 3/1/2004 100.0000 -146.550 -153.81 146.55 -7.26 DD 02/01/01 3/1/2004 SEC ID: 36212MRE1 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0547512 6.500% 04/15/2031 3/1/2004 100.0000 -845.780 -887.67 845.78 -41.89 DD 04/01/01 3/1/2004 SEC ID: 36212YGV9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0547715 6.500% 02/15/2031 3/1/2004 100.0000 -168.600 -176.69 168.60 -8.09 DD 02/01/01 3/1/2004 SEC ID: 36212YN82 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0552322 6.500% 01/15/2032 3/1/2004 100.0000 -3,487.770 -3,660.52 3,487.77 -172.75 DD 01 /01/02 3/1/2004 SEC ID: 36213ESK3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 35 Workbench @ Transaction Detail ReportlD: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDO!Il]!2 D DD DDDDDDDCJ 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base PD GNMA POOL #0552466 6.500% 03/15/2032 3/1/2004 100.0000 -46,606.500 -48,914.98 46,606.50 -2,308.48 DD 03/01/02 3/1/2004 SEC ID: 36213EW36 3/1/2004 OCSF07522202: LONGTERM OPER-PIMCO PD GNMA POOL#0552659 6.500% 07/15/2032 3/1/2004 100.0000 -14,735.670 -15,465.55 14,735.67 -729.88 DD 07 /01/02 3/1/2004 SEC ID: 36213E5U6 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA POOL#0561017 6.500%07/15/2031 3/1/2004 100.0000 -37,821.440 -39,694.78 37,821.44 -1,873.34 DD 07 /01/01 3/1/2004 SEC ID: 36213QG29 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA II POOL #0080023 VAR RT 12/20/2026 3/1/2004 100.0000 -4,629.070 -4,705.74 4,629.07 -76.67 DD 12/01/96 3/1/2004 SEC ID: 36225CAZ9 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA II POOL #080088M 7.375% 06/20/2027 3/1/2004 100.0000 -22,878.370 -23,378.83 22,878.37 -500.46 DD 06/01/97 3/1/2004 SEC ID: 36225CC20 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA II POOL #0080395 VAR RT 04/20/2030 3/1/2004 100.0000 -7,241.370 -7,175.74 7,241.37 65.63 DD 04/01/00 3/1/2004 SEC ID: 36225CNM4 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA II POOL #080408X 6.500% 05/20/2030 3/1/2004 100.0000 -60,539.630 -59,924.77 60,539.63 614.86 DD 05/01/00 3/1/2004 SEC ID: 36225CN28 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO PD GNMA GTD REMIC TR 2000-9 FH VAR RT 3/16/2004 100.0000 -17,779.940 -17,779.94 17,779.94 0.00 02/16/2030 3/16/2004 SEC ID: 3837H4NX9 3/16/2004 OCSF07522202: LONG TERM OPER-PIMCO PD RESIDENTIAL ASSET 03-RSl l AIIB VAR RT 3/25/2004 100.0000 -7,668.790 -7,668.79 7,668.79 0.00 12/25/2033 DD 12/30/03 3/25/2004 SEC ID: 760985K83 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 36 Workbench @ Transaction Detail Report ID: EWB009 ' Mellon Reported by Transaction Category Base Currency: USD ocs D-CONSOLI DATE DlllITT? 7 7( J nnonnnnn 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Coat Amount Net Gain/Losa Type Description Reported Date Ba.e Shares/Par Base Base Base PD SBA GTD DEV PARTN 2001-20C 1 6.340% 3/1/2004 100.0000 -236,390.200 -236,390.20 236,390.20 0.00 03/ Ol/202l 3/1/2004 SEC ID: 83162CWO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: -1,547,000.450 -1,580,858.41 1,547,000.45 -33,857.96 TOTAL FIXED INCOME SECURITIES BASE: -1,547,000.450 -1,580,858.41 1,547,000.45 -33,857.96 TOTAL PRINCIPAL PAYMENTS BASE: -1,547,000.450 -1,580,858.41 1,547,000.45 -33,857.96 MATURITIES CASH & CASH EQUIVALENTS U.S. DOLLAR MT DU PONT DE NEMOUR DISC 03/08/2004 3/8/2004 100.0000 -4,500,000.000 -4,494,000.00 4,494,000.00 0.00 SEC ID: 26354AC85 3/8/2004 OCSF07511102 : LtQUID OPER-PJMCO 3/8/2004 MT FEDERAL HOME LN BK CONS DISC N MAT 3/12/2004 100.0000 -4,500,000.000 -4,488,395.00 4,488,395.00 0.00 03/12/2004 3/12/2004 SEC ID: 313384UE7 3/12/2004 OCSF07511102: LIQUID OPER-PIMCO MT FEDERAL HOME LN BKS CINS DISC MAT 3/17/2004 100.0000 -900,000.000 -895, 162.50 895,162.50 0.00 03/17/2004 3/17/2004 SEC ID: 313384UK3 3/17/2004 OCSF07511102: LIQUID OPER-PIMCO MT FEDERAL HOME LN BKS CONS DISC MAT 3/19/2004 100.0000 -4,100,000.000 -4,096,874.89 4,096,874.89 0.00 03/19/2004 3/19/2004 SEC ID: 313384UM9 3/19/2004 OCSF07522202: LONG TERM OPER-PIMCO MT FEDERAL HOME LN MTG CORP DISC MAT 3/31/2004 100.0000 -3,800,000.000 -3,778,055.00 3,778,055.00 0.00 03/31/2004 3/31/2004 SEC ID: 313396UZ4 3/31/2004 OCSF0751 1102: LIQUID OPER-PIMCO TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: -17,800,000.000 -17, 752,487.39 17,752,487.39 0.00 TOTAL CASH & CASH EQUIVALENTS BASE: -17 ,800,000.000 -17,752,487.39 17,752,487.39 0.00 4/8/2004 8:34:17AM PDT 37 Workbench @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCS D-CO NS O LI DATE D0[][[2 0 CJD OOCJO•OOD 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Coat Amount Net Gain/Loss Type DescrlptJ~n Reported Date Base Shares/Par Base Base Base FIXED INCOME SECURITIES U.S. DOLLAR MT cmOROUPJNC SR GLOBALNTFLTG RT 3/9/2004 100.0000 -2, 700,000.000 -2,700,459.00 2,700,000.00 -459.00 03/09/2004 DD 03/09 /01 3/9/2004 SEC ID: l 72967BEO OCSF07511102: LIQUID OPER-PIMCO 3/9/2004 TOTAL MATURITIES BASE: -20,500,000.000 -20,452,946.39 20,452,487.39 -459.00 CORPORATE ACTIONS FIXED INCOME SECURITIES U.S. DOLLAR CD DEPOSITED AS A RESULT OF AN CONSENT 3/1/2004 0.000 100.00 100.00 100.00 SOLICITATION. SEC ID: 045906807 3/1/2004 OCSF07511102: LIQUID OPER-PIMCO INTEREST CASH & CASH EQUIVALENTS U.S. DOLLAR IT DU PONT DE NEMOUR DISC 03/08/2004 3/8/2004 4,500,000.000 6,000.00 6,000.00 0.00 SEC ID: 26354AC85 3/8/2004 OCSF07511102 : LIQUID OPER-PIMCO 3/8/2004 IT FEDERAL HOME LN BK CONS DISC N MAT 3/12/2004 4,500,000.000 11,605.00 11,605.00 0.00 03/12/2004 3/12/2004 SEC ID: 313384UE7 3/12/2004 OCSF07511102: LIQUID OPER-PIMCO IT FEDERAL HOME LN BKS CINS DISC MAT 3/17/2004 900,000.000 4,837.50 4,837.50 0.00 03/17/2004 3/17/2004 SEC ID: 313384UK3 3/17/2004 OCSF07511102: LIQUID OPER-PJMCO IT FEDERAL HOME LN BKS CONS DISC MAT 3/19/2004 4,100,000.000 3,125.11 3,125.11 0.00 03/19/2004 3/19/2004 SEC ID: 313384UM9 3/19/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FEDERAL HOME LN MTG CORP DISC MAT 3/31/2004 3,800,000.000 21,945.00 21,945.00 0.00 03/31/2004 3/31/2004 SEC ID: 313396UZ4 3/31/2004 OCSF07511102: LIQUID OPER-PIMCO 4/8/2004 8:34:17AM PDT 38 Workbench Transaction Detail ReportID: EWB009. . @ Mellon Reported by Transaction Category Base Currency: USD ocs D-CO NS O LI DATE DOIIlJf.2 iJ nn nrnnmmn 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Deecrfptlon Reported Date Base Shares/Par Base Base Base cw SHORT TERM FDS INT ADJ NET OF 3/31/2004 0.000 -1,099.75 -1,099.75 0.00 OVERNIGHT INTEREST 3/31/2004 SEC ID: 990000PJ4 3/31/2004 OCSF07511102: LIQUID OPER-PIMCO IT DREYFUS TREASURY CASH MGMT 3/2/2004 0.000 2,059.06 2,059.06 0.00 SEC ID: 996085247 3/1/2004 OCSF07511102: LIQUID OPER-PIMCO 3/2/2004 IT DREYFUS TREASURY CASH MGMT 3/2/2004 0.000 350.03 350.03 0.00 SEC ID: 996085247 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO 3/2/2004 TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: 17,800,000.000 48,821.95 48,821.95 0.00 TOTAL CASH & CASH EQUIVALENTS BASE: 17,800,000.000 48,821.95 48,821.95 0.00 FIXED INCOME SECURITIES U.S. DOLLAR IT CITIGROUP INC SR GLOBAL NT FLTG RT 3/9/2004 2,700,000.000 2,890.03 2,890.03 0.00 03/09/2004 DD 03/09 /01 3/9/2004 SEC ID: 1729678EO 3/9/2004 OCSF07511102: LIQUID OPER-PIMCO IT WMP/HUNTOON PAIGE #000-11150 7.500% 3/3/2004 780.270 5,907.15 5,907.15 0.00 12/01/2030 DD 10/21 /99 2/1/2004 SEC ID: 302998GE3 3/3/2004 OCSF07522202: LONG TERM OPER-PIMCO IT WMP /HUNTOON PAIGE #000-11150 7.500% 3/30/2004 785.710 5,902.28 5,902.28 0.00 12/01/2030 DD 10/21 /99 3/1/2004 SEC ID: 302998GE3 3/30/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FHLMC GROUP #04-0353 7.500% 10/01/2004 3/15/2004 64.250 318.64 318.64 0.00 DD 03/01/99 3/1/2004 SEC ID: 3128DBMA2 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FHLMC MULTICLASS MTG SER E3 A VAR RT 3/15/2004 6.300 6.30 6.30 0.00 08/15/2032 DD 12/01 /97 2/1/2004 SEC ID: 3133TCE95 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 39 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD ocs D-CONSOLIDATE Dnnnr2 ,7 cm [71771l•~w1n 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gabi/LoBS Type Description Reported Date Base Shares/Par Base Base Bue IT FHLMC MULTICLASS MTG SER E3 A VAR RT 3/15/2004 23,108.450 3,363.56 3,363.56 0.00 08/15/2032 DD 12/01 /97 2/1/2004 SEC ID: 3133TCE95 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FHLMC MULTICLASS CTF SER 16202 6.000% 3/2/2004 15,236.300 15,236.30 15,236.30 0.00 11/15/2023 DD 11/01 /93 3/1/2004 SEC ID: 3133Tl7A4 3/2/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FHLMC GROUP#78-6064 6.384% 01/01/2028 3/15/2004 2,591.830 222.76 222.76 0.00 DD 12/01/97 2/1/2004 SEC ID: 31348SWZ3 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FEDERAL NATL MTG ASSN DEBS 6.625% 3/15/2004 2,100,000.000 69,562.50 69,562.50 0.00 09/15/2009 DD 09/01 /99 3/15/2004 SEC ID: 31359MEY5 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0254510 5.000% 11/01/2017 3/25/2004 15,616.840 3,414.44 3,414.44 0.00 DD 10/01/02 3/1/2004 SEC ID: 31371 KVB4 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0254631 5.000% 02/01/2018 3/25/2004 2,661.200 725.30 725.30 0.00 DD 01/01/03 3/1/2004 SEC ID: 31371KY47 3/25/2004 OCSF07522202 : LONG TERM OPER-PIMCO IT FNMA POOL#0254760 5.000%06/01/2018 3/25/2004 3,060.810 654.92 654.92 0.00 DD 05/01/03 3/1/2004 SEC ID: 31371 K5V9 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0254866 5.000% 09/01/2018 3/25/2004 980.250 286.68 286.68 0.00 DD 08/01/03 3/1/2004 SEC ID: 31371LCB3 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0254953 5.000% 11/01/2018 3/25/2004 8,409.360 1,522.67 1,522.67 0.00 DD 10/01/03 3/1/2004 SEC ID: 31371LE21 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 B:34:17AM PDT 40 Workbench @ Transaction Detail Report ID: EWB009. . Mellon Reported by Transaction Category Base Currency: USD OCS D-CONSOLI DATE Drn:JI:2 DOD 00000000 3/1/2004 -3/31/2004 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#0254987 5.000% 12/01/2018 3/25/2004 13,735.140 4,087.14 4,087.14 0.00 DD 11/01/03 3/1/2004 SEC ID: 31371LF46 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0323980 6.000% 04/01/2014 3/25/2004 6,545.230 994.81 994.81 0.00 DD 09/01/99 3/1/2004 SEC ID: 31374T2MO 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0357328 5.000%01/01/2018 3/25/2004 875.640 129.84 129.84 0.00 DD 01/01/03 3/1/2004 SEC ID: 31376J4M8 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0357430 5.000% 09/01/2018 3/25/2004 23,755.980 6,532.38 6,532.38 0.00 DD 09/01/03 3/1/2004 SEC ID: 31376KA71 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0456482 6.000% 02/01/2014 3/25/2004 536.230 304.39 304.39 0.00 DD 02/01/99 3/1/2004 SEC ID: 31381 CCT2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0509649 6.000%09/01/2014 3/25/2004 25,563.550 870.62 870.62 0.00 DD 09/01/99 3/1/2004 SEC ID: 31383QEWO 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0535451 6.000% 06/01/2015 3/25/2004 4,492.380 784.72 784.72 0.00 DD 07 /01/00 3/1/2004 SEC ID: 31384 VZQ8 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0535672 6.000%01/01/2016 3/25/2004 116,353.410 16,976.44 16,976.44 0.00 DD 12/01/00 3/1/2004 SEC ID: 31384WCH1 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0545296 6.000% 11/01/2016 3/25/2004 41,371.350 5,507.57 5,507.57 0.00 DD 10/01/01 3/1/2004 SEC ID: 31385HXZO 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 41 Workbench @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD ocs D-CONSOLI DATE D'llllli12 n nn nnnnncmrl 3/1/2004 -3/31/2004 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 #0545580 6.000% 03/01/2017 3/25/2004 5,411.330 468.78 468.78 0.00 DD 03/01/02 3/1/2004 SEC ID: 31385JCR7 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0555101 6.000% 10/01/2017 3/25/2004 6,042.820 837.90 837.90 0.00 DD 11 /01/02 3/1/2004 SEC ID: 31385WU23 3/25/2004 OCSF07522202 : LONG TERM OPER-PIMCO IT FNMA POOL #0555363 5.000% 04/01/2018 3/25/2004 6,899.760 1,565.88 1,565.88 0.00 DD 03/01/03 3/1/2004 SEC ID: 31385W5Yl 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0555453 5.000% 05/01/2018 3/25/2004 616.330 160.42 160.42 0.00 DD 04/01/03 3/1/2004 SEC ID: 31385XBW6 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0555545 5.000% 06/01/2018 3/25/2004 6,534.940 1,308.25 1,308.25 0.00 DD 05/01/03 3/1/2004 SEC ID: 31385XES2 3/25/2004 OCSF07522202: LONGTERM OPER-PIMCO IT FNMA POOL #0555621 5.000% 07/01/2018 3/25/2004 22,302.960 4,534.41 4,534.41 0.00 DD 06/01/03 3/1/2004 SEC ID: 31385XG68 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0576386 6.000% 05/01/2016 3/25/2004 357.930 321.33 321.33 0.00 DD 05/01/01 3/1/2004 SEC ID: 31386XJ72 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0576739 6.000% 04/01/2016 3/25/2004 20,647.970 859.19 859.19 0.00 DD 04/01/01 3/1/2004 SEC ID: 31386XV86 3/25/2004 OCSF07522202 : LONG TERM OPER-PIMCO IT FNMA POOL#0580888 6.000%05/01/2016 3/25/2004 7,380.830 1,106.26 1,106.26 0.00 DD 05/01/01 3/1/2004 SEC ID: 31387DJ91 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 42 Workbench @ Transaction Detail Report ID: EWB009. , Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDCm:2 ••••••••mm 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/LoBB Type Description Reported Date Base Shares/Par Base Baae Base IT FNMA POOL #0594002 6.000% 07/01/2016 3/25/2004 14,868.210 890.23 890.23 0.00 DD 07 /01/01 3/1/2004 SEC ID: 31387T3K8 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0597376 6.000% 09/01/2016 3/25/2004 1,454.280 1,167.61 1,167.61 0.00 DD 08/01/01 3/1/2004 SEC ID: 3 l387XT96 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0605259 6.000% 09/01/2016 3/25/2004 8,130.590 729.86 729.86 0.00 DD 09/01/01 3/1/2004 SEC ID: 31388HMG 1 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0608366 6.000% 10/01/2016 3/25/2004 9,318.740 477.25 477.25 0.00 DD 09/01/01 3/1/2004 SEC ID: 31388LZ78 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0616734 6.000% 12/01/2016 3/25/2004 720.800 845.75 845.75 0.00 DD 12/01/01 3/1/2004 SEC ID: 31388WEF9 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0630812 6.000% 02/01/2017 3/25/2004 17,578.780 886.92 886.92 0.00 DD 02/01/02 3/1/2004 SEC ID: 31389NYH2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0632376 6.000%07/01/2017 3/25/2004 30,035.340 4,008.20 4,008.20 0.00 DD 07 /01/02 3/1/2004 SEC ID: 31389QQ50 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0653116 6.000%07/01/2017 3/25/2004 19,179.570 2,292.31 2,292.31 0.00 DD 07 /01/02 3/1/2004 SEC ID: 31390QSD8 3/25/2004 OCSF07522202: LONGTERM OPER-PIMCO IT FNMA POOL #0673280 6.000% 08/01/2017 3/25/2004 914.570 936.98 936.98 0.00 DD 11/01/02 3/1/2004 SEC ID: 31391P6R2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 43 Workbench @ Transaction Detail ReportlD: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DCIID1? C.l •• ••o•m::irn] 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Atnount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT FNMA POOL #0681309 5.000%02/01/2018 3/25/2004 7,871.220 2,357.41 2,357.41 0.00 DD 02/01/03 3/1/2004 SEC ID: 31391 Y3S4 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0681334 5.000% 02/01/2018 3/25/2004 835.080 294.25 294.25 0.00 DD 01 /01/03 3/1/2004 SEC ID: 31391 Y4Tl 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0684908 5.000%06/01/2018 3/25/2004 3,655.510 1,460.99 1,460.99 0.00 DD 05/01/03 3/1/2004 SEC ID: 31400D3Rl 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0685200 5.000% 03/01/2018 3/25/2004 4,491.140 839.17 839.17 0.00 DD 03/01/03 3/1/2004 SEC ID: 31400EGH7 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0685665 5.000% 02/01/2018 3/25/2004 625.540 150.15 150.15 0.00 DD 02/01/03 3/1/2004 SEC ID: 31400EW22 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0686318 5.000% 03/01/2018 3/25/2004 5,539.910 1,270.62 1,270.62 0.00 DD 03/01/03 3/1/2004 SEC ID: 31400FPB7 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0688739 5.000%06/01/2018 3/25/2004 536.220 486.95 486.95 0.00 DD 06/01/03 3/1/2004 SEC ID: 31400JEL9 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0689859 5.000% 05/01/2018 3/25/2004 7,012.610 526.44 526.44 0.00 DD 05/01/03 3/1/2004 SEC ID: 31400KMG8 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0693834 5.000% 03/01/2018 3/25/2004 19,536.500 3,061.69 3,061.69 0.00 DD 03/01/03 3/1/2004 SEC ID: 31400PY74 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 44 Workbench Transaction Detail ReportID: EWB009 . . @ Mellon Reported by Transaction Category Base Currency: USD 0 CS D-CO NS OLI DATE DOlllll2 0 OD DDOODOD• 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Repc,rted Date Base Shares/Par Base Baise Bas~ IT FNMA POOL #0695852 5.000% 05/01/2018 3/25/2004 4,691.660 1,110.76 1,110.76 0.00 DD 05/01/03 3/1/2004 SEC ID: 31400SBVO 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0695889 5.000% 05/01/2018 3/25/2004 11,080.140 3,444.81 3,444.81 0.00 DD 05/01/03 3/1/2004 SEC ID: 31400SC23 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0697026 5.000% 05/01/2018 3/25/2004 625.400 109.57 109.57 0.00 DD 04/01/03 3/1/2004 SEC ID: 31400TLF2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0698939 6.000%09/01/2017 3/25/2004 539.270 454.96 454.96 0.00 DD 03/01/03 3/1/2004 SEC ID: 31400VPY2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0702210 5.000%05/01/2018 3/25/2004 14,875.250 1,147.30 1,147.30 0.00 DD 05/01/03 3/1/2004 SEC ID: 31401ADP9 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0702328 5.000% 05/01/2018 3/25/2004 1,115.400 611.69 611.69 0.00 DD 04/01/03 3/1/2004 SEC ID: 31401AHD2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0703195 6.000% 01/01/2017 3/25/2004 872.780 390.58 390.58 0.00 DD 04/01/03 3/1/2004 SEC ID: 31401BGC3 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0709148 5.000%06/01/2018 3/25/2004 1,402.840 1,237.73 1,237.73 0.00 DD 06/01/03 3/1/2004 SEC ID: 31401HZM7 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0709360 5.000% 07 /01/2018 3/25/2004 5,063.410 2,888.05 2,888.05 0.00 DD 06/01/03 3/1/2004 SEC ID: 31401JB56 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 45 Workbench @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONS OLIDATE Dilllllf2 ~1 •1• •WHT.nnr1 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Billie Base IT FNMA POOL #0709826 5.000%06/01/2018 3/25/2004 5,081.380 587.54 587.54 0.00 DD 06/01/03 3/1/2004 SEC ID: 31401JSP4 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0709917 5.000%06/01/2018 3/25/2004 3,020.990 1,089.19 1,089.19 0.00 DD 06/01/03 3/1/2004 SEC ID: 31401JVJ4 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0709963 5.000% 06/01/2018 3/25/2004 105.470 110.26 110.26 0.00 DD 06/01/03 3/1/2004 SEC ID: 31401JWYO 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0710235 5.000%06/01/2018 3/25/2004 18,300.120 3,266.21 3,266.21 0.00 DD 06/01/03 3/1/2004 SEC ID: 31401KBC8 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0713344 5.000% 06/01/2018 3/25/2004 1,680.600 106.58 106.58 0.00 DD 06/01/03 3/1/2004 SEC ID: 31401NP52 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0713365 5.000% 07/01/2018 3/25/2004 5,975.520 1,371.43 1,371.43 0.00 DD 07 /01/03 3/1/2004 SEC ID: 31401NQS1 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0720319 5.000% 07/01/2018 3/25/2004 54,800.430 3,944.30 3,944.30 0.00 DD 07 /01/03 3/1/2004 SEC ID: 31401WG45 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0720369 5.000% 06/01/2018 3/25/2004 35,072.740 10,065.14 10,065.14 0.00 DD 06/01/03 3/1/2004 SEC ID: 31401WJNO 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0721629 5.000% 07/01/2018 3/25/2004 3,848.960 1,291.33 1,291.33 0.00 DD 06/01/03 3/1/2004 SEC ID: 31401XVW4 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 46 Wor_kbench @ Transaction Detail Report ID: EWB009 ~ Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE D0[][[2 D DD •••••••• 3/1/2004 -3/31/2004 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 #0723487 5.000% 06/01/2018 3/25/2004 967.250 1,047.04 1,047.04 0.00 DD 06/01/03 3/1/2004 SEC ID: 31402AXQ4 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0729601 5.000%07/01/2018 3/25/2004 5,235.540 1,761.34 1,761.34 0.00 DD 07 /01/03 3/1/2004 SEC ID: 31402HRW3 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0732873 5.000% 11/01/2018 3/25/2004 135.190 151.29 151.29 0.00 DD 10/01/03 3/1/2004 SEC ID: 31402MFN5 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0737130 5.000% 10/01/2018 3/25/2004 14,745.290 3,103.37 3,103.37 0.00 DD 10/01/03 3/1/2004 SEC ID: 31402S4P9 3/25/2004 OCSF07522202: LONGTERM OPER-PIMCO IT FNMA POOL#0738211 5.000% 10/01/2018 3/25/2004 10,572.030 2,447.99 2,447.99 0.00 DD 10/01/03 3/1/2004 SEC ID: 31402UDQ2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0738487 5.000% 10/01/2018 3/25/2004 4,851.620 919.38 919.38 0.00 DD 10/01/03 3/1/2004 SEC ID: 31402UNC2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0740471 5.000% 10/01/2018 3/25/2004 3,619.600 2,895.38 2,895.38 0.00 DD 10/01/03 3/1/2004 SEC ID: 31402WT40 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0740748 5.000% 10/01/2018 3/25/2004 3,523.890 3,433.84 3,433.84 0.00 DD 11/01/03 3/1/2004 SEC ID: 31402W5H7 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0743868 5.000% 11/01/2018 3/25/2004 720.550 183.57 183.57 0.00 DD 10/01/03 3/1/2004 SEC ID: 31403BMR1 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 47 Workbench @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE D7JJnf2 7 on nor-1no1 rn1 3/1/2004 -3/31/2004 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 #0744008 5.000% 07/01/2018 3/25/2004 5,247.670 4,762.66 4,762.66 0.00 DD 09/01/03 3/1/2004 SEC ID: 314038R54 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0744316 5.000% 09/01/2018 3/25/2004 2,579.680 712.00 712.00 0.00 DD 09/01/03 3/1/2004 SEC ID: 3140383Z4 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0747914 5.000% 11/01/2018 3/25/2004 1,717.410 1,500.24 1,500.24 0.00 DD 11/01/03 3/1/2004 SEC ID: 31403F3XO 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0748400 5.000% 08/01/2018 3/25/2004 1,014.580 1,009.87 1,009.87 0.00 DD 09/01/03 3/1/2004 SEC ID: 31403GNR9 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0748899 5.000% 12/01/2018 3/25/2004 13,157.950 4,288.67 4,288.67 0.00 DD 11/01/03 3/1/2004 SEC ID: 31403G7LO 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0750377 5.000% 11/01/2018 3/25/2004 17,503.510 10,535.47 10,535.47 0.00 DD 11/01/03 3/1/2004 SEC ID: 31403JUA2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0750380 5.000% 11/01/2018 3/25/2004 53,508.260 8,837.56 8,837.56 0.00 DD 11/01/03 3/1/2004 SEC ID: 31403JUD6 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0750445 5.000% 11/01/2018 3/25/2004 750.020 802.50 802.50 0.00 DD 11/01/03 3/1/2004 SEC ID: 31403JWE2 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0751960 5.000% 12/01/2018 3/25/2004 16,977.040 3,766.50 3,766.50 0.00 DD 11 /01/03 3/1/2004 SEC ID: 31403LMH1 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 48 Workbench @ Transaction Detail ReportID: EWB009~ Mellon Reported by Transaction Category Base Currency: USD ocs D-CONSOLIDATE Dll1J]i2 n no •n,1nrJ•nn 3/1/2004 -3/31/2004 Status: FINAL Tracie Date Tran Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT FNMA POOL #0753425 5.000% 11/01/2018 3/25/2004 5,925.120 4,009.52 4,009.52 0.00 DD 11 /01/03 3/1/2004 SEC ID: 31403NA23 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0755165 5.000% 12/01/2018 3/25/2004 17,724.340 2,685.43 2,685.43 0.00 DD 11/01/03 3/1/2004 SEC ID: 314Q3Q6A3 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL#0756372 5.000% 11/01/2018 3/25/2004 4,033.740 4,115.52 4,115.52 0.00 DD 11/01/03 3/1/2004 SEC ID: 31403SJR8 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0596612 6.500% 09/15/2032 3/15/2004 335.100 1,615.47 I ,615.47 0.00 DD 09/01/02 3/1/2004 SEC ID: 36200BYH4 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0569358 6. 500% 04/15/2032 3/15/2004 56,487.940 6,022.23 6,022.23 0.00 DD 04/01/02 3/1/2004 SEC ID: 36200QQK3 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0569685 6.500% 02/15/2032 3/15/2004 1,968.620 257.80 257.80 0.00 DD 02/01/02 3/1/2004 SEC ID: 36200Q2S2 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0570019 6.500% 07/15/2032 3/15/2004 3,966.870 445.98 445.98 0.00 DD 07 /01/02 3/1/2004 SEC ID: 36200RG48 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0574323 6.500% 12/15/2031 3/15/2004 40,046.680 2,573.74 2,573.74 0.00 DD 12/01/01 3/1/2004 SEC ID: 36200WAY7 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0575364 6. 500% 11/15/2031 3/15/2004 3,796.200 260.60 260.60 0.00 DD 11/01/01 3/1/2004 SEC ID: 36200XFD6 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 49 Workbench @ Transaction Detail ReportlD: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD--CONSOLJ DATE DO[]]J[2 J J[l •DJ[J[JO•• 3/1/2004 -3/31/2004 Status: FINAL Trade Date Ttan Settle Date Price Cost Amount Net Gain/Loss Type Description Reported Date Base Shares/Par Base Base Base IT GNMA POOL #0587117 6. 500% 06/15/2032 3/15/2004 603.250 107.27 107.27 0.00 DD 06/01/02 3/1/2004 SEC ID: 36201MG22 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#OS87439 6.500% 11/15/2032 3/15/2004 1,671.810 311.15 311.15 0.00 DD 12/01/02 3/1/2004 SEC ID: 36201MS45 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0421389 6.500% 04/15/2026 3/15/2004 667.340 77.08 77.08 0.00 DD 04/01/96 3/1/2004 SEC ID: 36206 UC23 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0438057 6.000% 05/15/2028 3/15/2004 26.640 92.90 92.90 0.00 DD 05/01/98 3/1/2004 SEC ID: 36207PTN9 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0449851 6.500% 01/15/2028 3/15/2004 59.990 123.81 123.81 0.00 DD 01/01/98 3/1/2004 SEC ID: 36208FWLO 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0457814 6.000% 10/15/2028 3/15/2004 1,447.170 184.37 184.37 0.00 DD 10/01/98 3/1/2004 SEC ID: 36208QSB3 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0465546 6.000% 08/15/2028 3/15/2004 845.250 2,286.75 2,286.75 0.00 DD 08/01/98 3/1/2004 SEC ID: 36209AET3 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0465555 6.000% 09/15/2028 3/15/2004 921.450 2,462.88 2,462.88 0.00 DD 09/01/98 3/1/2004 SEC ID: 36209AE48 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0466845 6. 500% 06/15/2028 3/15/2004 5,450.600 339.56 339.56 0.00 DD 06/01/98 3/1/2004 SEC ID: 36209BTA6 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 50 Workbench @ Transaction Detail Report ID: EWB009 ' Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DOllflf2 7 nn nnnnn ,1nn 3/1/2004 -3/31/2004 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 #0467279 6.000% 10/15/2028 3/15/2004 34.110 102.92 102.92 0.00 DD 10/01/98 3/1/2004 SEC ID: 36209CCQ7 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0467286 6.000% 10/15/2028 3/15/2004 553.320 1,984.87 1,984.87 0.00 DD 10/01/98 3/1/2004 SEC ID: 36209CCX2 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0468052 6.500% 07/15/2028 3/15/2004 404.870 613.15 613.15 0.00 DD 07 /01/98 3/1/2004 SEC ID: 36209C5M4 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0468330 6.000% 05/15/2028 3/15/2004 34.920 93.99 93.99 0.00 DD 05/01/98 3/1/2004 SEC ID: 36209DHF4 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0468339 6.000% 08/15/2028 3/15/2004 514.730 1,518.01 1,518.01 0.00 DD 08/01/98 3/1/2004 SEC ID: 36209DHQO 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0469688 6.000% 11/15/2028 3/15/2004 591.270 74.63 74.63 0.00 DD 11 /01/98 3/1/2004 SEC ID: 36209EXR8 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0476041 6.500% 06/15/2028 3/15/2004 265.220 940.88 940.88 0.00 DD 06/01/98 3/1/2004 SEC ID: 36209MZE7 3/15/2004 OCSF07522202 : LONG TERM OPER-PIMCO IT GNMA POOL#0478626 6.500% 01/15/2029 3/15/2004 214.850 887.56 887.56 0.00 DD 01/01/99 3/1/2004 SEC ID: 36209QVT9 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0480598 6.500% 10/15/2028 3/15/2004 167.750 665.34 665.34 0.00 DD 10/01/98 3/1/2004 SEC ID: 36209S3F6 3/15/2004 OCSF07522202 : LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 51 Workbench @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCS D-CONSOLIDATE DJm2 0 OU •rn:J••]•IJ 3/1/2004 -3/31/2004 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#0483452 6.000% 09/15/2028 3/15/2004 19.500 65.76 65.76 0.00 DD 09/01/98 3/1/2004 SEC ID: 36209WBV3 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0485527 6.500% 06/15/2031 3/15/2004 21,085.370 2,354.27 2,354.27 0.00 DD 06/01/01 3/1/2004 SEC ID: 36209YLG 1 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0485610 6.500% 07/15/2031 3/15/2004 16,063.860 2,561.00 2,561.00 0.00 DD 07 /01/01 3/1/2004 SEC ID: 36209YN38 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0485682 6.500% 08/15/2031 3/15/2004 4,822.040 505.14 505.14 0.00 DD 08/01/01 3/1/2004 SEC ID: 36209YRB6 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0485703 6.500% 08/15/2031 3/15/2004 12,242.300 460.09 460.09 0.00 DD 08/01/01 3/1/2004 SEC ID: 36209YRY6 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0486720 6.000% 12/15/2028 3/15/2004 548.560 59.65 59.65 0.00 DD 12/01/98 3/1/2004 SEC ID: 36210AVM6 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0491103 6.000% 01/15/2029 3/15/2004 4,046.880 505.83 505.83 0.00 DD 01/01/99 3/1/2004 SEC ID: 36210FRY4 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0496461 6.000% 01/15/2029 3/15/2004 14,577.640 1,959.32 1,959.32 0.00 DD 01/01/99 3/1/2004 SEC ID: 36210MQN4 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0497343 6. 000% 12/15/2028 3/15/2004 1,541.360 112.33 112.33 0.00 DD 12/01/98 3/1/2004 SEC ID: 36210NP45 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 52 Workbench @ Transaction Detail Report ID: EWB009 "' . Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDDlli!27 701l!T7nl nnn 3/1/2004 -3/31/2004 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#0499153 6.000% 02/15/2029 3/15/2004 18.010 63.15 63.15 0.00 DD 02/01/99 3/1/2004 SEC ID: 36210QQE5 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0500917 6.000"/o 04/15/2029 3/15/2004 969.420 32.74 32.74 0.00 DD 04/01/99 3/1/2004 SEC ID: 36210SPAO 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0503388 6.000% 03/15/2029 3/15/2004 17,350.120 1,541.55 1,541.55 0.00 DD 03/01/99 3/1/2004 SEC ID: 36210VF55 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0506636 6.000%04/15/2029 3/15/2004 1,606.460 171.59 171.59 0.00 DD 04/01/99 3/1/2004 SEC ID: 36210YY90 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #051223 5 6. 500% 11/15/2029 3/15/2004 15.260 59.05 59.05 0.00 DD 11/01/99 3/1/2004 SEC ID: 36211GBC6 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #051432 6 6. 500% 07/15/2029 3/15/2004 277.310 767.39 767.39 0.00 DD 07 /01/99 3/1/2004 SEC ID: 36211JLF2 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0530053 6.500% 04/15/2031 3/15/2004 789.370 257.51 257.51 0.00 DD 04/01/01 3/1/2004 SEC ID: 36212CZS3 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0537885 6.500% 02/15/2031 3/15/2004 146.550 567.77 567.77 0.00 DD 02/01/01 3/1/2004 SEC ID: 36212MRE1 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0547512 6.500% 04/15/2031 3/15/2004 845.780 63.67 63.67 0.00 DD 04/01/01 3/1/2004 SEC ID: 36212YGV9 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 53 Workbench @ Transaction Detail Report ID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE DOlJill2 D ::JO •••ll•CIDD 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gahl/LoSB Type Description Reported Date Base Shares/Par Base Base Base IT GNMA POOL#0547715 6.500% 02/15/2031 3/15/2004 168.600 693.36 693.36 0.00 DD 02/01/01 3/1/2004 SEC ID: 36212YN82 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0552322 6.500% 01/15/2032 3/15/2004 3,487.770 379.09 379.09 0.00 DD 01/01/02 3/1/2004 SEC ID: 36213ESK3 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL #0552466 6. 500% 03/15/2032 3/15/2004 46,606.500 2,846.83 2,846.83 0.00 DD 03/01/02 3/1/2004 SEC ID: 36213EW36 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA POOL#0552659 6.500% 07/15/2032 3/15/2004 14,735.670 2,193.93 2,193.93 0.00 DD 07 /01/02 3/1/2004 SEC ID: 36213E5U6 3/15/2004 OCSF07522202: LONGTERM OPER-PIMCO IT GNMA POOL #0561017 6.500% 07/15/2031 3/15/2004 37,821.440 2,152.31 2,152.31 0.00 DD 07 /01/01 3/1/2004 SEC ID: 36213QG29 3/15/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA II POOL #0080023 VAR RT 12/20/2026 3/22/2004 4,629.070 822.45 822.45 0.00 DD 12/01/96 3/1/2004 SEC ID: 36225CAZ9 3/22/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA II POOL #080088M 7.375% 06/20/2027 3/22/2004 22,878.370 1,136.79 1,136.79 0.00 DD 06/01/97 3/1/2004 SEC ID: 36225CC20 3/22/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA II POOL #0080395 VAR RT 04/20/2030 3/22/2004 7,241.370 760.59 760.59 0.00 DD 04/01/00 3/1/2004 SEC ID: 36225CNM4 3/22/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA II POOL #080408X 6 .500% 05/20/2030 3/22/2004 60,539.630 6,747.01 6,747.01 0.00 DD 05/01/00 3/1/2004 SEC ID: 36225CN28 3/22/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 54 Workbench @ Transaction Detail ReportID: EWB009-' . Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLJ DATE D•]llJ1J"2 0 cm nnnnoooo 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Cost Amount Net Gahl/Loss · Type Description Reported Date Base Shares/Par Base Base Base IT GENERAL ELEC CAP MTN #TR 00545 VAR RT 3/22/2004 1,000,000.000 1,043.02 1,043.02 0.00 05/20/2004 DD 05/20/02 3/20/2004 SEC ID: 36962GYS7 3/22/2004 OCSF07511102: LIQUID OPER-PIMCO IT GENERALMTRS ACCEPCORP SR NT 6.125% 3/1/2004 3,000,000.000 91,875.00 91,875.00 0.00 08/28/2007 DD 08/29 /02 2/28/2004 SEC ID: 370425SD3 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO IT GNMA GTD REMIC TR 2000-9 FH VAR RT 3/16/2004 17,779.940 904.92 904.92 0.00 02/16/2030 3/16/2004 SEC ID: 3837H4NX9 3/16/2004 OCSF07522202: LONG TERM OPER-PIMCO IT PACIFICORP SECD MTN #TR 00115 7.300% 3/1/2004 3,000,000.000 109,500.00 109,500.00 0.00 10/22/2004 DD 10/22 /92 3/1/2004 SEC ID: 69512EEU5 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO IT RESIDENTIAL ASSET 03-RSl 1 AIIB VAR RT 3/25/2004 7,668.790 1,109.10 1,109.10 0.00 12/25/2033 DD 12/30/03 3/25/2004 SEC ID: 760985K83 3/25/2004 OCSF07522202: LONG TERM OPER-PIMCO IT SBA GTD DEV PARTN 2001-20C 1 6.340% 3/1/2004 236,390.200 118,035.07 118,035.07 0.00 03/01/2021 3/1/2004 SEC ID: 83162CWO 3/1/2004 OCSF07522202: LONG TERM OPER-PIMCO IT UNITED AIRLS PASSTHRU 01-1 C 6.831% 3/1/2004 1,600,000.000 54,648.00 54,648.00 0.00 03/01/2010DD 08/22/01 3/1/2004 SEC ID: 909317BC2 3/1/2004 OCSF07522202 : LONG TERM OPER-PIMCO CD US TREASURY INFLATION INDEX NT 3.375% 3/31/2004 0.000 76,440.00 76,440.00 0.00 01/15/2007 DD O 1/ 15 /97 SEC ID: 9128272M3 3/31/2004 OCSF07522202: LONG TERM OPER-PJMCO CD US TREASURY INFLATION INDEX NT 3.625% 3/31/2004 0.000 16,050.00 16,050.00 0.00 01/15/2008 DD O 1/ 15 /98 SEC ID: 91282 73T7 3/31/2004 OCSF07522202: LONG TERM OPER-PIMCO 4/8/2004 8:34:17AM PDT 55 Workbench @ Transaction Detail ReportID: EWB009 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE 0'7]7[!12 7 nr:i nn1nnnr-irJ 3/1/2004 -3/31/2004 Status: FINAL Trade Date Tran Settle Date Price Coat Amount Net Gaiil/Loss Type Description Reported Date B•se Shares/Pu Base Base Base CD US TREASURY INFLATION INDEX NT 3.875% 3/31/2004 0.000 68,510.00 68,510.00 0.00 01/15/2009 DD O 1/ 15 /99 SEC ID: 9128274Y5 3/31/2004 OCSF07522202: LONG TERM OPER-PIMCO IT VIRGrNLA ELEC & PWR 01 SER A 5.750% 3/31/2004 1,750,000.000 50,312.50 50,312.50 0.00 03/31/2006 DD 03/27 /01 3/30/2004 SEC ID: 927804ENO 3/31/2004 OCSF07522202 : LONG TERM OPER-PJMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: 16,715,681.690 918,553.93 918,553.93 0.00 TOTAL FIXED INCOME SECURITIES BASE: 16,715,681.690 918,553.93 918,553.93 0.00 TOTAL INTEREST BASE: 34,515,681.690 967,375.88 967,375.88 0.00 TOTAL TRANSACTIONS: 38,651,912.980 5,184,257.25 -3,249,634.83 -6,638.86 4/8/2004 8:34:17AM PDT 56 Workbench