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HomeMy WebLinkAbout2005-03-09MINUTES OF FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, March 9, 2005, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on March 9, 2005, at 5:00 p.m., in the District's Administrative Office. (1) The roll was called and a quorum declared present, as follows: FAHR COMMITTEE MEMBERS: DIRECTORS PRESENT: Roy Moore, Chair Bill Dalton Rich Freschi Phil Luebben Joy Neugebauer James W. Silva Steve Anderson, Board Chair DIRECTORS ABSENT: Mike Duvall, Vice Chair Darryl Miller Jim Ferryman, Vice Board Chair STAFF PRESENT: Blake P. Anderson, General Manager Gary Streed, Director of Finance/Treasurer Carol Beekman, Director of Communications & Administrative Services Lisa Tomko, Director of Human Resources David Ludwin, Director of Engineering Bob Ghirelli, Director of Technical Services Mike White, Controller Jeff Reed, Human Resources Manager Lisa Arosteguy, Human Resources Supervisor Paul Loehr, Senior Human Resources Analyst Tom Meregillano, Regulatory Specialist Penny Kyle, Committee Secretary OTHERS PRESENT: Brad Hogin, General Counsel Randy Fuhrman FILED IN THE OFFICE OF THE SECRETARY ORANGF ""' .. ,-,, ~-.. "-•Tll"\M l"IISTRICT (2) APPOINTMENT OF CHAIR PRO TEM MAR 2 3 2005 No appointment was necessary. BY __ ~----'-K __ _ (3) PUBLIC COMMENTS Randy Fuhrman requested Directors to attend the Biosolids Workshop that will be held on March 16, 2005. Mr. Fuhrman also requested the Directors to read his letter that was distributed at the February 23, 2005 board meeting requesting the Directors to borrow less money by increasing user fees. (4) REPORT OF THE COMMITTEE CHAIR Committee Chair Moore had no report. (5) REPORT OF THE GENERAL MANAGER Blake Anderson, General Manager, reported a Biosolids workshop is scheduled to be held on Minutes of the Finance, Administration and Human Resources Committee Meeting Page 2 March 9, 2005 Wednesday, March 16, 2005, to discuss the Biosolids Master Plan and the options the Directors will need to consider. Directors were encouraged to attend this very informative workshop. Directors would also hear the preliminary plans within Orange County to include possible in- county composting sites. Mr. Anderson reported that Senator Florez from Bakersfield is proposing legislation that would ban importation of biosolids from outside county borders. This could be a serious impact to the District as most of the District's biosolids are managed in Kern, Kings and Riverside County. Senator Florez is also involved with a 90-minute panel discussion to be held on March 29th with an NBC affiliate in Bakersfield discussing biosolids by representatives from the biosolids industry and federal regulators. (6) REPORT OF DIRECTOR OF FINANCE/TREASURER Gary Streed, Director of Finance, had no report. (7) REPORT OF DIRECTOR OF HUMAN RESOURCES Lisa Tomko, Director of Human Resources, introduced key staff members for the benefit of new FAHR Committee Directors. (8) REPORT OF DIRECTOR OF COMMUNICATIONS & ADMINISTRATIVE SERVICES Carol Beekman, Director of Communications & Administrative Services, had no report. (9) REPORT OF GENERAL COUNSEL Brad Hagin, Assistant General Counsel, reported that the court denied the request to extend the tolling agreement with SAWPA for an additional 90 days. (10) CONSENT CALENDAR ITEMS a. Approve minutes of the February 9, 2005, Finance, Administration and Human Resources Committee meeting, as corrected. b. FAHR05-12 Recommend to the Board of Directors to receive and file Treasurer's Report for the month of February 2005. 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. FAHR05-13 Receive and file Certificates of Participation (COP) Monthly Report. d. FAHR05-14 Receive and file Employment Status Report as of February 14, 2005. e. FAHR05-15 Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 March 9, 2005 f. FAHR05-16 Receive and file report of General Manager approved purchases in amounts exceeding $50,000 in accordance with Board purchasing policies. g. FAHR05-17 Recommend to the Board of Directors to adopt Resolution No. OCSD05- MOTION: _, amending Resolution No. OCSD 98-33, amending Human Resources Policies and Procedures Manual, as amended with minor corrections. It was moved, seconded and duly carried to approve the recommended actions for items specified as 10(a) through (g) under Consent Calendar. END OF CONSENT CALENDAR (11) ACTION ITEMS a. FAHR05-18 Adopt Resolution No. OCSD05-_, Establishing Fats, Oil and Grease MOTION: Control Program Fees Applicable to Food Service Establishments. Tom Meregillano provided a brief background on the Fats, Oil and Grease Control Program. He also noted a slight wording change on the drafted resolution should be made reflecting the non-compliance charges would be per event rather than per day. It was moved, seconded and duly carried to recommend approval to the Board of Directors. (12) INFORMATION PRESENTATIONS a. FAHR05-19 Creation of new department for Regional Assets. Blake Anderson, General Manager, reported he is proposing to elevate the Regional Assets and Services Division as a department for consideration by the Board of Directors. Mr. Anderson noted the District has taken on increasingly active roles in leading and assisting cities within the District's service area to include training, standardized contracts for sewer cleaning and video inspections of sewer lines, as well as assisting the cities in the new responsibilities required by the Regional Water Quality Control Board's Waste Discharge Requirements. In addition, this will prepare the District for expected changes that should occur in the next 12 to 18 months in how the County, cities and special districts work cooperatively to manage urban runoff. Directors agreed with the concept but some expressed concern that the elevation of the division to department status may be premature. ROLL CALL FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE Meeting Date: Ma.rch 9, 2005 Time: 5:00 p.m. Adjourn: __ _ COMMITTEE MEMBERS Roy Moore (Chair) Mike Duvall (Vice Chair) Bill Dalton Richard Freschi Phil Luebben Darryl Miller James W. Silva Steve Anderson (Board Chair) Jim Ferryman (Board Vice Chair) OTHERS Tom Woodruff, General Counsel Don Hughes STAFF Blake Anderson, General Manager Carol Beekman, Director of Communications & Administrative Services 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 Technology Robert Ghirelli, Director of Technical Services Mike White, Controller Penny Kyle, Committee Secretary Mahin Talebi, Source Control Manager Tom Meregillano c: Lenora Crane AGENDA REGULAR MEETING OF THE FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE ORANGE COUNTY SANITATION DISTRICT WEDNESDAY, MARCH 9, 2005, AT 5:00 P.M . ADMINISTRATIVE OFFICE 10844 Ellis Avenue Fountain Valley, California 92708 www.ocsd.com Agenda Postin·g: 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 Po·sted: In the event any matter not listed on this agenda is proposed to be submitted to the Committee for discussion and/or action, it will be done in compliance with Section 54954.2(b) as an emergency item or because there is a need to take immediate action, which need came to the attention of the Committee subsequent to the posting of agenda, or as set forth on a supplemental agenda posted in the manner as above, not less than 72 hours prior to the meeting date. Accommodations for the Disabled: The Board of Directors Meeting Room is wheelchair accessible. If you require any special disability related accommodations, please contact the Orange County Sanitation District Board Secretary's office at (714) 593-7130 at least 72 hours prior to the scheduled meeting. Requests must specify the nature of the disability and the type of accommodation requested. Items Continued: Items may be continued from this meeting without further notice to a Committee meeting held within five (5) days of this meeting per Government Code Section 54954.2(b)(3). Meeting Ad journment: This meeting may be adjourned to a later time and items of business from this agenda may be considered at the later meeting by Order of Adjournment and Notice in accordance with Government Code Section 54955 (posted within 24 hours). (1) ROLL CALL (2) APPOINTMENT OF CHAIR PRO TEM . IF NECESSARY Book Page I March 9, 2005 (3) PUBLIC COMMENTS All persons wishing to address the Finance, Administration and Human Resources Committee on specific agenda items or matters of general interest should do so at this time. As determined by the Chair, speakers may be deferred until the specific item is taken for discussion and remarks may be limited to three minutes. Matters of interest addressed by a member of the public and not listed on this agenda cannot have action taken by the Committee except as authorized by Section 54954.2(b). (4) REPORT OF COMMITTEE CHAIR (5) REPORT OF GENERAL MANAGER (6) REPORT OF DIRECTOR OF FINANCE (7) REPORT OF DIRECTOR OF HUMAN RESOURCES (8) REPORT OF DIRECTOR OF COMMUNICATIONS & ADMINISTRATIVE SERVICES (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: lAII matters placed on flie ~ons~nt calendar are considered as not requiring discussio'n 'or further explanati~n and j ! unless any particular item is requested to be removed from the consent calendar by a Director or staff member, j [there will be no separate discussion of these items. All items on the consent calendar will be enacted by one : !action approving all motions, and casting a unanimous ballot for resolutions included on the consent calendar. All : \ items removed from the consent calendar shall be considered in the regular order of business. j i i ·1The Chair will determine if any items are to be deleted from the consent calendar. j : : f ......... -. .. ••••·•~••••••• .. •••••••M•••u·•• .. ••••• .. -•U•---••••••••••• .. ••••• ....... ,.,."!"',• .......... "h .. oou,-•-uu,o ... ,,_,,.,0a0,o-•·••· .. • .. ~H•• •• •• ••-•-•• .. ••• .. ••-•nn• .. •••••·••••••• .. •--••••• .. •••• .. ••••·•••· .. ••·•-· •••• .. ••nuou, ... , ................ ,.,.-~,• a. Approve minutes of the February 9, 2005, Finance, Administration and Human Resources Committee meeting. b. FAHR05-12 Recommend to the Board of Directors to receive and file Treasurer's Report for the month of February 2005. 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 March 9, 2005 c. FAHR05-13 Receive and file Certificates of Participation (COP) Monthly Report. (Book Page 13) d. FAHR05-14 Receive and file Employment Status Report as of February 14, 2005. (Book Page 19) e. FAHR05-15 Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. (Book Page 25) f. FAHR05-16 Receive and file report of General Manager approved purchases in amounts exceeding $50,000 in accordance with Board purchasing policies. (Book Page 31) g. FAHR05-17 Recommend to the Board of Directors to adopt Resolution No. OCSD05- _, amending Resolution No. OCSD 98-33, amending Human Resources Policies and Procedures Manual. (Book Page 33) END OF CONSENT CALENDAR Consideration of items deleted from Consent Calendar, if any. (11) ACTION ITEMS a. FAHR05-18 Adopt Resolution No. OCSD05-_, Establishing Fats, Oil and Grease Control Program Fees Applicable to Food Service Establishments. (Book Page 73) (Tom Meregillano - 5 minutes) (12) INFORMATIONAL PRESENTATIONS a. FAHR05-19 Creation of new department for Regional Assets (Book Page 79) (Blake Anderson - 1 O minutes) b. FAHR05-20 Verbal report re Preliminary Budgets and Sewer Service User Fees for 2005-06 (Gary Streed -30 minutes) 3 BookPage 3 March 9, 2005 (13) CLOSED SESSION 1 During the course ef conducting the bus.ine·ss set forth on this agenda as a regular me~tihg of the· · l i Committee, the Chair may convene the Committee in closed session to consider matters of pending real l \ estate negotiations, pending or potential litigation, or personnel matters, pursuant to Government Code 1 l Sections 54956.8, 54956.9, 54957 or 54957.6, as noted. l i : I Rep~orts relating t0 (a) purchase and sale 0f real property; (b) matters 0f pending or p0tential litigation; {c) I l ernP,l0yee actions or neg0tiations with employee representatives; or wlaich are exempt from public,disclosure 1 l under the California Public Recorqs Apt. may be reviewed by the Committee during a p_ermitted closed l I session and are not available for publici•spection. A~ sµch time. as: final actions are taken by the Committee l \ on any of these subjects, the minutes will reflect all required disol0sures of information, ! 1 ............................... ~. _ ············ ... ······· .. · .. ···· .. ··•--u ... ,, ....... u,,, .... -......... _ .............................. ~---··· .... ••• ...................... ,~ ................................ H .... u ~--HOOOH;• ........... _ ..... n .......................... .,. •• _,, .............. _ J: a. Convene in closed session. b. Reconvene in regular session. c. Consideration of action, if any, on matters considered in closed session. (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY (15) MATTERS WHICH A DIRECTOR MAY WISH TO PLACE ON A-FUTURE AGENDA FOR ACTION AND STAFF REPORT (16) FUTURE MEETING DATES The next Finance, Administration and Human Resources Committee Meeting is scheduled for April 13, 2005, at 5 p.m. (17) ADJOURNMENT ................. 04 ................... • •• •· ........... -... -......................................................................... 0 ..... ,.. .... .-...... ~ ................ _ ••••• _ •• ,~ ...................................................... , •• _ •• _ ............................................. - •• -..... .. 1 Notice to Committee Members: · ] 1For any questions on the agenda or to place any items on the agenda, ~ommittee members should contact the I \Committee Chair or Secretary ten days in advance of the Committee meeting. \ 1committee Chair: Roy Moore (714) 990-7703 I \Committee Secretary; Penny Kyle (714) 593-7130 pkyle@ocsd.com l \General Manager Blake Anderson (714) 593-7110 banderson@ocsd.com \ \Director of Finance Gary Streed (714) 593-7550 gstreed@ocsd.com ! \Director of Human Resources Lisa Tomko (714) 593-7145 ltomko@ocsd.com : \ Director of Communications & Carol Beekman (714) 593-7120 cbeekman@ocsd.com i \Administrative Services . . .. l ~••-•• .. •• .. ••, +H•• .. •••n••• .. ••••••• .. •• .. •••-••• .. •• .. ••..,•••••• .... •l•..,•••.o. .. •••• .... ••-•••-•~__, ......... ••H•••••u.u u•••~u•,o-••u••••• •••••••• .. uu .. u••••O••-•Hoo•oo•••••• • H , ..... ,. ........ ,. ..... •••••••-•• .. ••• .. ••H•• .. •-•• .. •--•••••• .. u.oo••noo..,. .... , ... H:\dept\agenda\FAHRIFAHR2005\0305\01.3.Agenda.doc 4 Book Page 4 Book Page 6 MINUTES OF FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, February 9, 2005, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on February 9, 2005, at 5:00 p.m., in the District's Administrative Office. (1) The roll was called and a quorum declared present, as follows: FAHR COMMITTEE MEMBERS: DIRECTORS PRESENT: Roy Moore, Chair Mike Duvall, Vice Chair Bill Dalton Rich Freschi Phil Luebben Darryl Miller Joy Neugebauer Steve Anderson, Board Chair Jim Ferryman, Vice Board Chair DIRECTORS ABSENT: James W . Silva STAFF PRESENT: Blake P. Anderson, General Manager Gary Streed, Director of Finance!Treasurer Carol Beekman, Director of Communications & Administrative Services Lisa Tomko, Director of Human Resources Mike White, Controller Penny Kyle, Committee Secretary OTHERS PRESENT: Brad Hogin, General Counsel Bob Geggie (2) APPOINTMENT OF CHAJR PRO TEM No appointment was necessary. (3) PUBLIC COMMENTS There were no public comments. (4) REPORT OF THE COMMITTEE CHAIR Committee Chair Moore welcomed the new Directors to the FAHR Committee. (5) REPORT OF THE GENERAL MANAGER Blake Anderson, General Manager, reminded the Directors of the Board Orientation scheduled for February 16th at 5:00 p.m. This would provide new and returning Directors with a general overview of the District's operations. The Directors were also reminded of the Orange County Leadership Symposium scheduled to be held March 3-4, 2005, in Lake Arrowhead. Directors were encouraged to participate in the event. Book Page 7 Minutes of the Finance, Administration and Human Resources Committee Meeting Page 2 February 9, 2005 (6) REPORT OF DIRECTOR OF FINANCE/TREASURER Gary Streed, Director of Finance, referred the Directors to two handouts distributed that evening pertaining to Agenda Item Nos. 1 0(b) and (c). Mr. Streed announced the Governmental Finance Officers Association granted the District its Distinguished Budget Presentation Award for the 2004/05 Budget. The District has received this award for the past eight years. (7) REPORT OF DIRECTOR OF HUMAN RESOURCES The Director of Human Resources had no report. (8) REPORT OF DIRECTOR OF COMMUNICATIONS & ADMINISTRATIVE SERVICES Carol Beekman, Director of Communications & Administrative Services, updated the Directors on the activities and accomplishments for the past quarter on the Communications and Administrative Services Strategic Plan for FY 2004/05 (Agenda Item No. 12(a)). The next update will be provided in April 2005. (9) REPORT OF GENERAL COUNSEL Brad Hagin, Assistant General Counsel, reported that in the interest of time staff would be submitting a request directly to the Board of Directors to consider entering into additional lease agreements in connection with property purchased for the Rocky Point Pump Station in Newport Beach. (10) CONSENT CALENDAR ITEMS a. Approve minutes of the December 8, 2004, Finance, Administration and Human Resources Committee meeting, as corrected. b. C. d. e. f. g. Director Freschi abstained. FAHR05-01 FAHR0S-02 FAHR05-03 FAHR05-04 FAHR05-05 FAHR05-06 Recommend to the Board of Directors to receive and file Treasurer's Report for the month of January 2005. Receive and file Certificates of Participation (COP) Monthly Report. Receive and file Employment Status Report as of January 20, 2005. Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. Receive and file SWAP Report for quarter ending December 31, 2004. Recommend to the Board of Directors to receive and file Quarterly Investment Management Program Report for the period October 1, 2004 through December 31 , 2004. BookPage 8 Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 February 9, 2005 h. FAHR05-07 Recommend to the Board of Directors to receive and file the Mid-Year MOTION: Financial Report for the period ending December 31, 2004. It was moved, seconded and duly carried to approve the recommended actions for items specified as 1 0(a) through (h) under Consent Calendar. END OF CONSENT CALENDAR (11) ACTION ITEMS a. FAHR05-08 Recommend to the Board of Directors to approve the 2005/06 Budget MOTION: Assumptions, Fiscal Policy Statements, and Budget Calendar. Mike White, Controller, reviewed the FY 2005/06 Budget Assumptions for economic assumptions, revenue assumptions, operating assumptions, reserve assumptions, capital improvement program assumptions and debt financing assumptions. He also outlined the important dates leading to adoption of the FY 2005-06 budget at the June 22, 2005 Board meeting. In response to the Directors' questions on the budgeting process, Blake Anderson, General Manager, advised staff would provide as much detail the Committee felt was appropriate during the review of the budget before adoption. Staff is also available to discuss the budget process in more detail with the Directors individually. It was moved, seconded and duly carried to recommend approval to the Board of Directors. b. FAHR05-09 Authorize the General Manager to renew the consultant agreement with MOTION: Public Resources Advisory Group as the District's Financial Advisor for an additional two-year period beginning with fiscal year 2004-05. Mike White, Controller, gave a brief overview on services provided since 2001 by Public Resources Advisory Group. They are willing to provide assistance for a new debt issuance at no increase in price of $75,000 for fixed rate debt issuance and $100,000 for variable rate debt issuance. It was moved, seconded and duly carried to recommend approval to the Board of Directors. c. FAHR05-10 Consideration of pending 2005 Legislative Proposals: 1. Assembly Constitution Amendment No. 1 2. Assembly Constitution Amendment No. 7 3. Senate Bill No._ (no number assigned at this time) 4. California Deficit Prevention Act Brad Hogin, Assistant General Counsel, reported this item was coming before the Committee and the Board of Directors to consider taking a position of support or opposition to each measure. The Board's positions Book Page 9 Minutes of the Finance, Administration and Human Resources Committee Meeting Page4 February 9, 2005 MOTION: would then be transmitted to CASA. The first measure discussed Public Employee Pension Plans (Assembly Constitutional Amendment No . 1'). This proposal would provide that after July 1, 2007, new employees would have to enroll only in a defined contribution plan of a public pension or retirement system. Directors felt a decision on this issue was premature until more information is provided. The second measure discussed was Assembly Constitutional Amendment No. 7. This amendment would change the present two-thirds voter approval requirement for special taxes to instead authorize a special district to impose a special tax with the approval of 55% of its voters voting on the tax. Special districts have no authority or power to adopt general taxes, but only special taxes, which mean that revenues received must be used for specified purposes within the limited powers of a special district. The Sanitation District has never adopted a special tax. After much discussion, the Directors agreed that this amendment, along with the others included in the report, should be first reviewed and considered by the District's legislative committee and lobbyists before the Board takes a position. It was moved, seconded and duly carried to have the District's legislative committee review this item and provide the Steering Committee with their recommendation. (12) INFORMATION PRESENTATIONS a. FAHR05-11 Communications and Administrative Services Strategic Plan FY 2004-05/Quarterly Update This report was provided under the Director of Communications and Administrative Services Report (Item 8). (13) CLOSED SESSION There was no closed session. (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY Upon request for a future report regarding the undercharges for parcels not being noted in the database used for collection of user charges, Gary Streed reported that the review being done in- house has been successful. Temporary staff has been successfully utilized for this project. Out of over 46,000 non-residential parcels, 60% have been inspected resulting in 311 changes. Out of those parcels the District will receive an additional $835,000 in user fees. (15) CONSIDERATION OF UPCOMING MEETINGS The next FAHR Committee meeting is scheduled for March 9, 2005 at 5 p.m. Book Page 10 Book Page I~ FAH R CO MMI TTEE AGE NDA REPORT Orange County Sanitation District FROM: Gary G. Streed, Director of Finance Originator: Michael D. White, Controller Meeting Date 03/09/05 Item Number FAHR0S-13 SUBJECT: CERTIFICATES OF PARTICIPATION (COP) MONTHLY REPORT - FEBRUARY 2005 GENERAL MANAGER'S RECOMMENDATION To Bd. of Dir. Item Number Receive and file Certificates of Participation (COP) Monthly Report for the month of February 2005. 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. PRIOR COMMITTEE/BOARD ACTIONS NIA Book Page 13 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 gf 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 Higlaest & Lowe·st Rates," compares the performance (m0nthly 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," sh0ws the monthly variable interest rate performance of the District's Daily Rate· COPs as compared to the c.omposite index. Estimated annual interest payments calculated for a standard $100 million par amoui,t, 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 abo1:1t developments in the program as they may occur. ATTACHMENTS 1. Graph -OCSD COP Rate History Report 2. Graph -Comparative Daily COP Rate History Report 3. Graph -COP Daily 'Rate History, Comparison of Highest & Lowest Rates 4. Tal:Dular -COP Rate History, Comparison of Monthly Averages GGS:MW:lc H:ldepllagenda\FAH RIF AHR2005\0305\05-13, COP .doc Revised: 06/04103 Book Page 14 Page 2 so'qa.:1 I-0:: 0 so 'uer a. w 0:: 170 'oaa ~ 0 I-vQ'I\ON fti u, -C ~ ::c w I- w Lt) 170 ':JOO rn I-0 ~ :ii ~~ 8 r C a. ~ I 17o'das 0 0 ca ~ 0 :::s ~ -I 111 .c 170 'Bnv C') ~ I 91 Cl) --~ -LL c'3 Q. <C 0 C 170 '1nr (.) C w - g • > -I-17o'unr ~ <C 170 ·~e1111 a. I :i 0 0 170 'Jdv' vO 'J&II\I ' ' 0 0 0 0 0 0 0 0 ..;. <"i C\i ~ ~w .... 0 I- (%) 3.l'AI C C Book Page 16 to 0 0 ~ '-.:::I ~ 0~ -00 DAILY COP RA TE HISTORY COMPARISON OF MONTHLY AVERAGES MAR 2004 -FEB 2005 ocso $218.6M $46M Series 2000 Series 93 Ref PaineWebber PaineWebber Mar-04 0.94 0.94 Apr-04 1.01 1.01 May-04 1.05 1.05 Jun-04 1.02 1.02 Jul-04 0.99 0.99 Aug-04 1.15 1.15 Sep-04 1.34 1.34 Oct-04 1.67 1.67 Nov-04 1.52 1.52 Dec-04 1.55 1.55 Jan-05 1.70 1.70 Feb-05 1.76 1.76 AVERAGE 1.31% I 1.31% ESTIMATED ANNUAL INTEREST PAYMENTS PER $100M PAR AMOUNT $ 1,ao8,333 I $ 1,308,333 I$ • FOOTNOTE Composite index consists of the following COP transactions: . IRWD, Series 86-COP, 88, 95, $106.1M, Citigroup . I RWD, 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 Composite Index* 0.92 1.00 1.03 1.00 0.97 1.13 1.32 1.65 1.51 1.54 1.69 1.74 1.29% 1,291 ,667 . Western Riverside Co. Reg. Wastewater Auth., Series 96, $25.4M, PaineWebber . Orange Co., Irvine Coast Asst. Dist. 88-1, $94.5M, J.P. Morgan FAHR COMMITTEE Meeting Date 03/09/05 AGENDA REPORT Item Number FAHR0S-14 Orange County Sanitation District FROM: Lisa L. Tomko, Director of Human Resources Originator: Lisa Arosteguy, Human Resources Supervisor SUBJECT: EMPLOYMENT STATUS REPORT AS OF FEBRUARY 14, 2005 GENERAL MANAGER'S RECOMMENDATION Receive and file the Employment Status Report SUMMARY To Bd. of Dir. Item Number The number of full-time equivalent (FTE) employees at OCSD is 588; actual headcount is 598. PRIOR COMMITTEE/BOARD ACTIONS NIA 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. t8J Not applicable (information item) ADDITIONAL INFORMATION ·• Promotions: O • New Hires: 1 o Automotive/Heavy Equipment Assistant (Fleet Services) • Terminations: 1 o Intern (Laboratory-Microbiology) ALTERNATIVES N/A H:ldeptlagenda\FAHRIFAHR2005\0305\05-14.Employment Status.doc Revised: 06/04/03 Book Page 19 Page 1 CEQA FINDINGS NIA ATTACHMENTS 1. February 14, 2005 Employment Status Report 2. Performance compared to budgeted FTE's l-hdept\agenda\FAHRIFAHR2005\030510S--i4.E111pl0ymon( Status doc Revised 06/04103 Book Page 20 Page 2 IJj 0 0 :,,;- ;;? oc::i (1) tv - 700 - - - - - - - - - --+-AUTHORIZED FTE -..ACTUAL FTE • • • • APR MAY 596 596 564.75 567.75 STAFFING REPORT / • • • • • • • • • • • • • • JUN JUL* AUG SEP OCT NOV FEB MAR 598 629 629 629 629 629 629 629 571.75 571.75 576.25 578.25 581.50 584.00 587.50 588.00 * Authorized FTE as of July; actual FTE as of June Book Page 22 0:, 0 0 ;,;- '"d "' ~ N w AUTHORIZED FTE DIV REG 0.&O 0.76 110 General Management Admin 2.00 . . 120 Administrative SeNlces 7.00 1.00 . 130 Communications 7.00 0.&O . General Management Totals 16.00 1.&0 . 210 Finance Administration 2.00 . . 220 Accounting 20.00 . 230 Purchasing & Warehousing 22.00 0.liO . Finance Totals 44.00 0.liO . 510 Human Resources Admin 7.00 . Interns Intern Program (510) . 9.00 . 520 Employee Development/Training 3.00 . . 530 Safety & Health 7.00 . 540 Employee SeNices 6.00 . 540 Planned Recruitments 2.00 Human Resources Totals 26.00 9.00 . 610 Technical SeNices Admin 2.00 . . 620 Environmental Assessment 16.00 . . 630 Environmental Sciences Lab 36.00 1.00 . 640 Source Control 40.00 . . 660 Environmental Compliance Svcs 18.00 . . Technlcal Services Totala 111.00 1.00 . 710 Engineering Admin 3.00 . . 740 Planning 16.00 . 750 Project Management Office 17.00 0.7& 760 Engineering & Construction 68.00 . Engineering Totals 94.00 . 0.76 810 O&M Administration 4.00 . . 420 Regional Assets & SeNices 29.76 0.liO 430 Facilities Maintenance Svcs 32.00 0.76 . 820 O&M Process Engineering 16.00 0.liO - 830 Operations, Plant No. 1 39.00 . 0.76 840 Operations, Plant No. 2 47.00 -. 850 Mech Main! & Power Production 69.00 . . 860 Electrical & Instrumentation Main! 64.00 . . Operations & Malnlllnance Totals 279.76 1.76 0.76 910 IT Administration 2.00 . . 930 IT Customer & Network Suppori 17.00 . 940 IT Programming & Database Sys 12.00 . . 950 IT Process Controls Integration 13.00 -. lnfonnatlon Tac:hnology Totals 44.00 . . GRAND TOTAL FT& 613.76 13.76 1.liO TOTAL AUTHORIZED FTE 629.00 R:\540\open\Recruiting_shared\Position Control-FAHR REPORT.xis EMPLOYMENT STATUS REPORT ACTUALFTE Recruitments Vacancies TOTAL REG UQ. ~ LOA TOTA[ 2.00 2.00 ---2.00 -- 8.00 7.00 1.00 --8.00 -. 1.60 7.00 0.50 --7.SO -. 17.60 111.00 1.50 -. 17.IIO . 2.00 2.00 ---2.00 1.00 . 20.00 20.00 . --20.00 . - 22.liO 19.00 0.50 --19.SO 3.00 3.00 44.liO 41.00 0.50 . . 41.50 4.00 3.00 7.00 5.00 ---6.00 . 2 00 9.00 . 6.50 --8.60 1.00 250 3.00 3.00 . --3.00 -. 7.00 7.00 ---7.00 -. 8.00 6.00 -. . 8.00 . - 2.00 ----. -2.00 34.00 21.00 11.50 . . 27.IIO 1.00 6.&0 2.00 2.00 ---2.00 -. 16.00 13.00 --100 14.00 -1.00 37.00 35.00 2.00 --37.00 -. 40.00 40.00 ---40.00 1.00 . 18.00 18.00 . --18.00 - 112.00 108.00 2.00 . 1.00 111.00 1.00 1.00 3.00 3.00 . . . 3.00 . - 18.00 15,00 ' -. 16.00 . 1 00 11.1& 12,00 . 0.75 -12.76 5.00 5.00 &8.00 48.00 --1.00 49.00 7.00 9.00 94.1& 18.00 . 0.75 1.00 79.71 12.00 16.00 - 4.80 4.00 . . . 4.00 1.00 - 30.26 25.00 0.50 0.75 . 28.25 4.00 4 OD 32.11 31.00 0.75 -. 31.75 1.00 1 00 11.60 13.00 . . -13.00 3.50 2.50 39.71 36.00 . 0.75 . 36.75 3.00 3 00 47.00 46.00 --. 44.00 1.00 1 OD 69.00 57.00 -. 1.00 68.00 1.00 100 14.00 52.00 . -. 62.00 1.00 2-00 282.26 284.0D 1.25 1.50 1.00 287.71 15.50 14.60 2.00 2.00 . . . 2.00 . - 17.00 16.00 -. 1.00 17.00 . - 12.00 11.00 -. . 11.00 1.00 1 00 13.00 13.00 . . -13.00 . . 44.00 42.00 . . 1.00 43.00 1.00 1.00 670.00 11.76 2.26 4.00 1· ·1 TOTAL Total + TQt.al Vf!,!!nctg ACTUALFTE Becrultmants (less recruilmenls) 588.00 34.50 8.50 2/14/2005 Book Page 24 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Lisa L. Tomko, Director of Human Resources Originator: Jim Matte, Safety & Health Supervisor Meeting Date To Bd. of Dir. 03/09/05 Item Number Item Number FAHR0S-15 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 The Safety and Health Division staff track OSHA Incidence Rates for DART Cases (DART Incidence Rate) and Total Accidents (Total Injury Frequency Rate). There were no DART Cases District-wide for the month of January 2005. The industry average is 4.5 for the DART Case Incidence Rate while the District Incident Rate was zero for the month of January 2005. There was one OSHA Recordable Accident District-wide for the month of January 2005. The industry average is 7.3 for the Total Injury Frequency Rate while the District Incident Rate was 2.10 for the month of January 2005. The Division also tracks the District's Workers' Compensation Claims and Costs. The District's claim count for Fiscal Year 2004-2005 is eight. The costs associated with these claims for year-to-date is $5,722.45, which includes medical bills, temporary disability payments, legal costs and a claim reserve account. PRIOR COMMITTEE/BOARD ACTIONS N/A 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. IZ] Not applicable (information item) Revised: 06/04/03 Book Page 25 Page 1 ADDITIONAL INFORMATION The District had no DART cases and one injury that required only medical treatment for the months of January through December 2005. The reporting period is for 45 days prior to committee meeting. ALTERNATIVES NIA CEQA FINDINGS NIA ATTACHMENTS 1. OSHA Incidence Rates Reports for DART Cases and Total Injuries 2. Workers' Compensation Claims and Costs Revised: 06/04/03 Book Page 26 Page 2 Total Injuries District-Wide There was one OSHA Recordable Accident in January 2005. Total OSHA Recordable Accidents 0 .!!l 30 t-- 11 ~ fil-. •-. •- 2001 2002 2003 Calendar Year 2004 2005 OSHA Incidence Rates District-Wide The Total Injury Frequency Rate is a combination of the DART Cases and the cases that requ ire Other Medical Treatment. The industry average for Total Injury Frequency rate is 7.3 and the District rate was 2.10 for January 2005. First Aid cases are not included in the calculation of this rate. $ 6 • m a:: 4 Q) u C Q) 2 "O ·o ..5: 0 2001 OSHA Incidence Rate Total Injuries/Illnesses 2002 2003 Calendar Year 2004 2005 Book Page 28 Workers' Compensation Claims and Costs The Workers' Compensation Claims and Costs are reported by fiscal year. The DART and Total Injury graphs shown above are calendar year rates as required for OSHA recordkeeping. All claims and medical invoices are reviewed by a third party to ensure that proper medical treatment is provided for injured employees and the costs for the treatment are within established guidelines. The medical bills reviewed for July 2004 -January 2005 totaled $99,438.74. Medical treatment costs are charged to the fiscal year in which the injury occurred. All open claims have the potential to incur additional costs. After the medical review process, the amount was reduced to $51,400.23, which resulted in savings of $48,048.51 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 $295,924 7/1/90-6/30/91 76 0 $121,978 7/1/91 -6/30/92 58 2 $228,212 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 0 $369,949 7/1/97 -6/30/98 45 1 $1 ,026,722 7 /1 /98 -6/30/99 38 2 $274,403 7 /1 /99 -6/30/00 43 2 $351,608 7 /1 /00 -6/30/01 32 2 $403,180 7/1/01 -6/30/02 30 5 $437,382 7 / 1 /02 -6/30/03 18 4 $118,034 7/1/03-6/30/04 15 2 $89,092 7/1/04-6/30/05 8 3 YTD $5,722.45 "Total Incurred" includes medical bills, temporary disability payments to employees, legal costs, and a claim reserve account. Book Page 29 Book Page 30 FAHR COMMITTEE Meeting Date To Bd. of Dir. 3/9/05 AGENDA REPORT Item Number Item Number FAHR0S-16 Orange County Sanitation District FROM: Marc Dubois, Contracts / Purchasing Manager SUBJECT: GENERAL MANAGER APPROVED PURCHASES GENERAL MANAGER'S RECOMMENDATION Receive and file report of General Manager approved purchases in amounts exceeding $50,000 in accordance with Board purchasing policies SUMMARY In May 1998, the FAHR Committee and the Board approved changes to the staff purchasing authority. One of the changes was to increase the dollar threshold before Board authority was required for purchases of goods or services, excluding public works purchases, to $100,000. When approving this change, the Committee asked for periodic reports showing purchases approved by the General Manager for amounts between $50,000 and $100,000. Subsequent to receiving the initial report, the Committee requested that future reports be placed on the Consent Calendar. Vendor Name Woolpert LLP Tadpole Cartesia HDR Engineering, Inc. GIS Planning, Inc. DCSE, Inc. Science Applications Intl., Co. Science Applications Intl., Co. Science Applications Intl., Co. Woods Hole Group, Inc. Tetra Tech, Inc. Cingular Wireless Agilent Technologies, Inc. Hardin Buick Pontiac GMC Sopp Chevrolet Jamison Engineering H:ldept\agenda\FAHRIFAHR2005\0305\05-16 GM Purchases.doc Revised: 06/04/03 Amount Description/Discussion $85,000 On call GIS related services. $85,000 On call GIS related services. $85,000 On call GIS related services. $85,000 On call GIS related services. $85,000 On call GIS related services. $79,929 Review the ocean monitoring annual report. $68,484 Prepare oceanographic and water quality chapters. $60,000 Scientist to support the ocean monitoring program. $60,000 Support the ocean monitoring program tasks. $60,000 Support the ocean monitoring program tasks. $60,000 Airtime for Cingular phones $56,951 Purchase of GC/MS Quadrapole. $74,171 Three ( 3 ) GMC Canyon Crew Cab trucks. $58,724 Purchase/conversion of two ( 2 ) commuter vans. $99,700 Sole Source for manhole structure rehabilitation. Page 1 Book Page 31 Section 4.03.B of Resolution 04-08, the District's Delegation of Authority Resolution, authorizes the Contracts / P1.,1rchasing Manager to purchase items that have been previously authorized by the Board as identified in the annual District budget. E>'uring the budget adoption process, the lists of these items were highlighted for the Directors. For these reasons, purchases that fell into these categories are not included in this report. 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. 1Z! Not applicable (information item) ADDITIONAL INFORMATION NIA ALTERNATIVES N/A CEQA FINDINGS NIA ATTACHMENTS None H:ldeptlagenda\FAHRIFAHR200510305\05-16 GM Purchases doc Revised: 06/04/03 Book Page 32 Page 2 FA HR CO MMITTEE AGE NDA REPO RT Orange County Sanitation District FROM: Lisa Tomko, Director of Human Resources Originator: Jeff Reed, Human Resources Manager MeeJ;lng Date To Bd. of D1r. 03/09/05 03/23/05 Item Number Item Number FAHR0S-17 SUBJECT: CHANGES AND ADDITIONS TO HUMAN RESOURCES POLICIES AND PROCEDURES AS AUTHORIZED BY RESOLUTION 98-33. GENERAL MANAGER'S RECOMMENDATION Adopt Resolution No. OCSD 05-XX, amending Resolution No. OCSD 98-33, amending Human Resources Policies and Procedures Manual. SUMMARY The attached policy revisions are forwarded for approval to maintain consistent language with the Memorandums of Understanding (MOU), address new legislation, or to clarify procedures. Changes and additions to the Human Resources Policies and Procedures Manual will be done on a quarterly basis. The next quarterly update is scheduled for June 2005. PRIOR COMMITTEE/BOARD ACTIONS • Human Resources Policies and Procedures Manual revisions were presented at the December 2004 FAHR Committee and Board of Directors meetings. PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT 0 This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. ~ Not applicable (information item) H:ldepllagenda\FAHRIFAHR2005\0305\05-17 HR Policy and Procedures.doc Book Page 33 Page 1 ADDITIONAL INFORMATION Policy Number and Subject B100.00 Employee Separation B120.00 Outside Employment B150.00 Recruitment and Selection C190.00 Variable Non-Base Pay 030.00 Holidays F70.00 Discipline ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS From Current Language Current Language Current Language Current Language Current Language Current Language 1. 8100.00 Employee Separation 2. 8120.00 Outside Employment 3. 8150.00 Recruitment and Selection 4. C190.00 Variable Non-Base Pay 5. D30.00 Holidays 6. F?0.00 Discipline 7. Resolution No. OCSD 05-XX H:ldept\agenda\FAHRIFAHR2005\0305\05-17.HR Policy and Procedures.doc To Revised Language Revised Language Revised Language Revised Language Revised Language Revised Language Book Page 34 -I Reason for Change Add At-Will Language and clarify existing language Include additional outside activities during working hours and clarify existing language Add At-WIii ianguage and modify procedures for clarification and/or reflect current practices Add Variable Special Pay and clarify existing language Revise Floating Holiday Language and clarify existing language Add At-Will Language and clarify existing language Page 2 4.2 Employees may be separated due to a resignation, layoff, dismissal, or without cause for "at-will" employees and Student Interns. 5.0 PROCEDURE 5.1 Notice. If separation is due to layoff, the employee will be given at least two weeks notice. At OCSD's the District's discretion, the employee may be expected to continue to work during this period. The layoff notice requirement does not affect "at-will" employees or Student Interns. Employees resigning from OCSD are e_xpected to give at least two weeks advanced written notice prior to leaving depending upon empl0yment status. Employees who fail to prnvide two weeks written notice in advance of resigning shall be prohibited from being rehired at OCSD without appro\(al from the Director of Human Resources, or designee. A voluntary written resignation of employment with OCSD is irrevocable after 72 h0urs from the receipt of the resignation except by approval of the Human Resources Department. 5.2 Pay in Lieu of Notice. Immediate separation from duties may occasionally be desirable to minimize adverse effects on other employees or to allow the separated employee more time to seek new employment. In such cases , up to 60 gays Pay may be provided in lieu of notice depending on the employee's length of service in accordance with applicable Memorandums of Understanding (MOUs). ~icy C140.00, Severance Pay. 5.3 Management Approvals. When an employee is released for reasons other than dismissal for cause, written approval will be required from the Director of Human Resources, or designee, GffiGe and two levels of management above the employee. Release of an Assistant General Manager will require written approval of the General Manager and the Board of Directors. 5.4 Change of Status. The immediate supervisor of the separating employee is responsible for initiating the Change of Status form and designating the appropriate separation category. 5.5 Final Paycheck. The payroll office is responsible for calculating and preparing the final paycheck in accordance with appropriate policy, and ensuring that final pay is issued to the separating employee not later than the subsequent regular pay day. 5.6 Exit Interview. All separating employees will undergo an exit interview conducted by the Human Resources Department. The purpose of the exit interview is to attempt to determine the individual's reasons for leaving OCSD the District, uncover possible grievances, or explain the reasons for layoff or release. An additional goal of the exit interview is to attempt to retain the goodwill of the employee towards OCSD the District and to review all benefits available to the separating employee. extend all applicable insurance conversion and retirement fund privileges. The exit interview will be scheduled by the Human Resources Department during the separating employee's notice period or on the last day of employment. All items of District property of OCSD, as outlined in the Use of District Property policy, shall be retu rned to the employee's supervisor prior to the exit interview. see Policy F40.00 , Use of District Property, Any delay in the return of District property could cause a selay in the issuance of the employee's final paycheck. Page 2 of4 Book Page 36 6.0 EXCEPTIONS 7.0 PROVISIONS AND CONDITIONS 7.1 Benefits Eligibility. 7 .1.1 Vacation and Sick Leave. When an employee is separated for any reason, they will receive payment for all accrued vacation time earned but not taken in accordance with the Policy D10.00, Leave of Absence with Pay policy, or other applicable Memorandum of Understanding provisions. Unless otherwise modified by a bargaining un it Memorandum of Understanding, payment will be made to the separating employee for accrued, unused sick leave hours according to the following schedule: Accrued Sick Leave Hours 101 to 240 hours 241 to 560 hours Over 560 hours Rate of Payoff 25% 35% 50% Employees who retire or the estate of an employee, who dies, will be paid for all accrued and unused sick leave at the 50 percent rate . Employees covered by the Operations and Maintenance, and General Services Administration Memoranda of Understanding will be paid in full for all accrued and unused Personal Leave time upon separation. 7.1.2 Cancellation of Benefits and Insurance Conversion. All employee benefits will cease upon the date of termination, except that coverage under the Group Insurance Programs for Medical, Dental, Vision, Life, and Accidental Death and Dismemberment will continue to the end of the month in which the termination date occurs, at which time coverage will cease. 7.1.3 Medical Insurance. Employees whose employment is separated for any reason may continue their medical insurance in accordance with the provisions of the insurance policy by applying for continuation privileges through the Human Resources Department within 30 days after the group coverage ends, and agreeing to pay the premium rate established by the insurance carrier. The continuation privilege and election decision is a part of the Exit Interview process. 8.0 RELATED DOCUMENTS 8.1 Policy C180.00, "At-Will" Policy 8.2 Policy D10.00, Leave of Absence With Pay 8.3 Policy F40.00, Use of District Property/Use of Public Property 8.4 Policy F?0.00, Discipline 8.5 Local 501, Operations and Maintenance Unit MOU 8.6 Administrative and Clerical Unit MOU 8. 7 Engineering Unit MOU Page 3 of 4 Book Page 37 8.8 Technical Services Unit MOU 8.9 Professional Gmup MOU 8.1 o Sup~rvisor Group MOU 8.1 Policy 010.00, Leave of Absence \/\Jith Pay; Policy F40.00, Use of District Property/Use of P~blic Property; Policy C140.00, Severance Pay; Policy No. F70, Discipline. Page 4 of4 Book Page 38 ti) Orange County Policy Number: 8120.00 Sanitation District Effective Date: March 23, 2005 Subject: OUTSIDE EMPLOYMENT AND Supersedes: October 22, 1997 PROFESSIONAL ASSOCIATION ACTIVITIES ~ Approved by: Lisa L. Tomko 1.0 PURPOSE 1.1. The purpose of this policy is to establish uniform guidelines and procedures for employees engaging in outside employment or any other outside remunerative activity as well as voluntary involvement in outside professional associations. 2.0 ORGANIZATIONAL UNITS AFFECTED 2.1 . This policy applies to all current Orange County Sanitation District (OCSD) employees regardless of their organizational unit. 3.0 DEFINITIONS 3.1 3.2 3.3 3.4 Outside remunerative activities -Any outside employment or business related relationship, which results in a payment, transfer of goods, or receipt of services to the employee involved. Outside professional association activities -Any membership or affiliation to an outside organization, group, or activity that is related to an employee's profession or personal interests. Conflict of Interest-As it relates to this policy, occurs when an outside activity interferes with OCSD business operations, discredits the integrity and reputation of OCSD, and/or violates OCSD policies, procedures, or agreements. Confidential Information -Information that requires a "need-to-know", restricted use, or is sensitive in nature is considered confidential information. Generally, OCSD technical data, proprietary, customer, and personnel related information is confidential. Personnel related information includes, but is not limited to, medical, recruitment, disciplinary, and performance related information. Once information becomes generally available to the public, it is no longer considered confidential. Contact the Human Resources Department if there are questions. 4.0 POLICY 4.1 . It is OCSD's policy to allow employees to engage in outside remunerative activitres or professional association activities perform other services or AGkl- other employment outside of the District in accordance with the procedures and provisions of this policy. Page I of3 Book Page 39 5.0 PROCEDURE 5.1 . Outside Remunerative Activities. Performing any outside remunerative Gt/:tef seA/4ces activitY.,_Or holding other employment requires initial and annual approval of the General Manager and is subject to based upon the following conditions: 5.2 5.1.1. An OCSD request form for outside employment must be completed and submitted for approval. 5.1.2. Outside remunerative activities shall not be performed on OCSD property, during an employee's work time for OCSD, or using any OCSD resource. OCSD resources include, but are not limited to, staff, equipment, facilities, and computers. 5.1.3. The services for which the employee will be compensated must not be performed on District time or with District material. 5.1.4. Outside remunerative activities shall not involve use of an employee's OCSD title or position to benefit the outside employer or business activity, This activity must not give the appearance that an employee is acting in the official capacity of his/her job at OCSD. 5.1.5. The outside remunerative activity service shall not give rise to any real or apparent conflict of interest, nor will the activity potentially require the disclosure of OCSD confidential information. acquired in the course of OCSD employment. Any attempt to influence OGSD business decisions, with respect to the employee's outsie::le remunerative activity is prohibited. 5.1.6. The performance of such services shall not affect the employee's efficiency and job performance for OCSD. 5.1.7. Toe-Outside employment or other remunerative activity must not bring discredit upon or reasonably cause unfavorable criticism towards OCSD of the District, or impair public confidence in the integrity of OCSD tRe District. Professional Associations. Performing any outside professional association activity may be authorized by a supervisor subject to the following conditions: 5.2.1 Outside professional association activities may not make use of OCSD staff, equipment, postage, telephones, computers, internet access, or any other resource unless authorized by the General Manager, or designee. 5.2.2 Managers and supervisors may restrict activities in outside professional associations in order to prevent conflicts of interest from occurring. 5.2.3 Employees are required to obtain prior approval from their supervisor for all outside professional association activities if these activities are performed during an employee's working hours. In addition, employees are required to report all potential conflicts of interest, as defined in this policy, to their supervisor. Page 2 of3 Book Page 40 5.2.4 Any duties performed for outside professional association activities must not adversely affect an employee's job performance or interfere with the official business of OCSD. 5.2.5 All employees will follow OCSD's Information Systems Management policies when using OCSD computer resources. The use of email and internet resources is strictly prohibited if such use conflicts or interferes with OCSD's Guiding Principles, Unifying Strategies, and/or any- administrative policy, guideline, or procedure. 5.2.6 Employee association, bargaining unit, and labor union activities are authorized under the provisions of federal and states laws, adopted Orange County Sanitation District (OCSD) Employer-Employee Relations Resolution, and the terms and conditions of applicable Memorandums of Understanding with OCSD. 5.2.7 Employee participation in outside activities not directly referenced in this policy that affect the terms and conditions of employment are prohibited, unless authorized by the General Manager, or designee. 6.0 EXCEPTIONS 6.1 There are no exceptions to this policy unless authorized by the General Manager, or designee; superseded by an amending OCSD policy; or changed due to federal or state laws. 7.0 PROVISIONS AND CONDITIONS 7.1 . The provisions of Government Code Section 1126 shall apply to all such services. 8.0 RELATED DOCUMENTS 8.1. California Government Code, Sections 1126 and 3502 8.2. OCSD Request Form for Outside Employment 8.3. Policy FS0.00, Problem Solving Procedure 8.4. Policy F70.00, Discipline Page 3 of3 Book Page 41 Book Page 4'.2 beginning with the effective date of the reassignment or lateral transfer. This period provides an opportunity for both the employee and OCSD management to assess, over a substantial period of time, whether or not the decision was appropriate. 3.8 A Relative is any person related by one of the following familial relationships to any employee at OCSD the agency: spouse, mother, father, brother, siste r, child, step child , step parent, grandmother, grandfather, grandchild, cousin, aunt, uncle, mother- in-law, father-in-law, brother-in-law or sister-in-law. 4.0 POLICY 4.1 OCSD is an Equal OJi)portunity Empleyer (EOE). OCSG does not discriminate on the basis of race, religion, color. natienal origin, disability, pregnancy, martial status, age, gender, sexual orientation, or participation in any protected class/activi~. 4.2 It is OCSD's policy to provide nondiscriminatory, lawful, and consistent guidelines and procedures to all its agency recruitment processes, whether internal or open. 5.0 PROCEDURE 5.1 PERSONNEL REQUISITION 5.1.1 A personnel requisition is the first step for the hiring manager/supervisor to communicate staffing needs to the Human Resources Department. however, if If the recruitment requires testing (hands-on, written, essay, etc.) as part of the recruitment interview process, the testing methods must be reviewed for validity and reliability by the Human Resources .Department prior to the initiation of a personnel requisition. 5.1.2 The hiring manager/supervisor completes the personnel requisition and receives the appropriate signatures required before sending it to the Human Resources Department. 5.1.3 The recruiter Human Resources reviews the requisition to make sure the qualifications are appropriate for the position. If changes are necessary, the recruiter Human Resources will work with the appropriate manager/supervisor. 5.2 EMPLOYMENT OPPORTUNITY BULLET/NS/POSTINGS 5.2.1 The recruiter prepares the employment opportunity bulletin, also known as a posting. Each posting will include the following information: • Wage range • Department • Brief job description • Required qualifications • Desired qualifications • Posting/closing dates • Procedure for applying • Brief benefits overview 5.2.2 The recruiter provides the draft posting to the hiring manager/supervisor for approval. Page 2 of I I Book Page 44 5.2.3 Upon approval, all job postings for Student Intern and management positions may be advertised as an open recruitment (internal and external) at the beginning of the recruitment process. All other job postings shall be (except Intern positions) are advertised as internal recruitments for ten business days unless authorized by the Director of Human Resources, or designee. aA4 extenuating circumstances apply. During the internal posting process, if there is at least one internal applicant and he/she meets the minimum qualifications for the position, that applicant will be interviewed. If an internal applicant is not selected or if there are no internal applicants, the position shall be advertised as an external recruitment. 5.2.4 Department representatives are provided with postings for communication 11,1ithin their designated departments. 5.2.5 Internal job opportunities will be posted to the intranet which is accessible to all OCSD ~mployees. Bulletin boards at Plant No. 1 where Employment Opportunity Bulletins will be regularly posted are located in the Control Center, and \Narehouse, outside the Human Reso1:1rces Office and in the Administration Building lunchroom. 5.2.6 Internal Job Announcement Notifications are sent via e-mail to all OCSD employees for internal and external recruitments. 5.2.7 Employment Opportunity bulletin boards at Plant No. 2 are located in the Operations Center, Maintenance Office, Maintenance lunchroom and Warehouse. 5.2.8 Employment Opportunity Bulletins may also be found in other convenient areas throughout both plaA-t&- 5.3 ADVERTISING 5.3.1 Advertising for positions at OCSD ensures positions are filled with the best- qualified candidate for the job. OCSD shall make every reasonable effort to advertise external positions to all segments of the public to ensure EOE guidelines are followed. 5.3.2 All positions are advertised on the Internet and may be posted in other media when deemed appropriate. Technical and hard-to-fill positions are advertised on trade specific websites. 5.3.3 Trade magazines and other forms of advertising may be used for hard-to-fill or specialized positions. 5.4 APPLICANT SCREENING 5.4.1 Applications and resumes shall only be accepted electronically after March 2005. All other application material will be accepted at the interview process. Unsolicited application material will not be accepted at anytime. 5.4.2 Once an application and/or resume is received and reviewed, it will only be selected for further consideration if the minimum job requirements for the open position are met. Resumes or applications that are received are reviewed and selected for further consideration only if they meet the minimum job requirements. Page 3 of 11 Book Page 45 5.4.3 The hiri.ng mariager/supervisor is given access to flies on tlile online application pre!!}ram pertinent to the jeb opening for which the manager submitted a personnel requisition. The manager may review applications that meet the minin,um qualifications to determine which candidates may be interviewed. he recruiter forwards copies of the resumes or applications of qualified applicants to the hiring supervisor for re1Jiew. Originals remain in HR in the Recruiting files. 5.4.4 All materials (e.g., applications, resumes, interviewer notes, interview packets, packets, etc.) submitted by applicants/candidates during the interview process are confidential and are considered OCSD property and must be returned to the Human Resources Department upon completion of the hiring process. All recruitment files are majntalned by OCSD in accordance with established record keeping guidelines. 5.5 INTERVIEW PROCESS 5.5.1 The interview panel members are selected along with the interview date(s). Applicants are scheduled, interview questions are prepared, and the interview panel conducts the actual interview. 5.5.2 The recruiter and the hiring supervisor work together to select the interview panel. However, the recruiter makes the final decision to ensure consistency. The ideal interview panel will include the hiring supervisor, one employee within the department, two individuals outside the department, and the recruiter, or another member of the Human Resources Department. Normally, subordinates within the hiring department are not included in the interview panel. 5.5.3 The recruiter and the hirin g manager work together to establish a set of questions for the candidates. 5.5.4 The recruiter prepares interview packets and distributes them to the interview panel. Packets include: • An overview of the interview process • A copy of the interview schedule • A copy of the employment bulletin opportunity/posting • Copies of candidate applications • Interview questions and evaluation forms for each candidate 5.5.5 The interview panel will meet at least one half hour before the interview. The panel will finalize the Interview questions that are recommended by the hiring supervisor and the recruiter. The panel may add or delete questions. The panel will gain an understanding from the hiring supervisor about the criteria with which to select the ideal candidate, and adopt the appropriate criteria. 5.5.6 The recruiter facilitates the interview process. When interviews are completed, the interview panel members evaluate each candidate interviewed. The top three candidates are identified and ranked in order of preference based on the criteria established prior to the interview. The recruiter collects the documentation at the end of the interview process. 5.5.7 The final candidate is selected from the top three candidates when a majority decision is reached. If a majority decision cannot be reached, the General Page 4 of 11 Book Page 46 Manager or designee will make the final determination based on the input of the hiring supervisor, the panel, and the Human Resources Department. If a majority decision is reached , and the hiring supervisor does not agree with the final decision, he or she may appeal for a final decision from the General Manager or designee. 5.6 RECRUITMENT APPEALS PROCESS 5.6.1 Employees should bring recruitment process and decision-making issues to the attention of the Human Resources Manager as soon as possible. The manager will review the issue and provide a written response within five business days from the issue notification date. 5.6.2 If the issue is not resolved to the employee's satisfaction, the employee may file a written statement concerning the problem to the Director of Human Resources within ten business days of receipt of the manager's decision. Upon request by either party, a meeting may be held to discuss the issue and establish remedies. 5.6.3 The employee will be provided a written response from the Director of Human Resources, or designee, within ten business days after their statement is received. The decision of the Director of Human Resources, or designee, is final (see policy F50.00, Problem Solving Procedure and F60.00, Grievance Procedure). 5.6.4 Time limits may be extended for cause upon mutual consent of the parties. 5. 7 EMPLOYMENT OFFERS 5.7.1 The recruiter and hiring supervisor determine an appropriate starting salary for all candidates, except those designated as "at-will" employees, based on a Salary Offer Analysis. This analysis will include the applicant's: • Qualifications • Years of experience • Educational background • Salary history • Parity within the department 5.7.2 The Human Resources Compensation Analyst reviews the recommended salary, and approves or makes additional recommendations. All salary offers that are either at or beyond step 4 of the range will require the approval of the Director of HR, or designee. Under no circumstances should panel members (excluding the Human Resources representative) or any other OCSD employee discuss salary offers with candidates or make promises of any kind. Human Resources staff are the only employees authorized to engage in salary discussions with job candidates. 5.7.3 The recruiter completes a status change form for the candidate and initiates the background investigation. Background investigation results are provided to the candidate by OCSD's background screening firm. 5. 7.4 When the status change form is approved and the background investigation is GleM, the recruiter makes a verbal employment offer to the candidate, which is contingent upon results of a background investigation, pre-employment physical and drug screening. Upon acceptance of the employment offer, the Page 5 of 11 Book Page 47 recruiter sends regret letters to unsuccessful candidates. Internal candidates are contacted personally prior to receiving regret letters. 5.7.5 The recruiter schedules the pre-employment physical and drug screen for the candidate, works with the supervisor to establish a potential start date and prepares a formal offer letter for the candidate. 5.7.6 When the recruiter Safety Manager (or designee) has cleared the background investigation , pre-employment physical am;i drug scre~nin!;J results, the recruiter applicant will be contacted the applicant to confirm the employment offer. 5. 7. 7 The recruiter coordinates the candidate's start date. 5.7.8 In the event that a candidate is selected and voluntarily or involuntarily vacates the position prior to completing the required six month probationary period, the Human Resources Department, at the request of the hiring manager, may exercise the option to extend an offer to the second candidate from the original interview process. 5.8 PLANNED RECRUITMENT 5.8.1 In instances where an existing OCSD Q.fSti:iGt employee plans to retire or leave the agency, the Department Head may request to initiate the planned recruitment process by notifying the Director of HR, or designee. If approved, the Human Resources Department shall begin the recruitment process for the anticipated vacancy using the internal recruitment process. The Human Resources Department must have a minimum of six months notice to consider a planned recruitment, a signed memo from the existing OCSD District employee stating his/her retirement or leave date, and at least one budgeted but vacant position that OCSD the District can borrow from. 5.8.2 The Planned Recruitment process will be initiated, as scheduling permits, prior to the individual leaving OCSD the District in order to allow for an adequate amount of cross training. 5.8.3 If a candidate is selected from the internal recruitment process, the candidate shall remain in his/her existing position with the same salary and benefits while cross-training in the new position as scheduling permits. 5.8.4 The candidate shall assume the salary, benefits and full range of duties of the vacant position the first business day that the position is vacant. The position used to initiate the planned recruitment will then be returned to the "pool" within the Division 540 full-time equivalent (FTE) budget for use with other planned recruitments. 5.8.5 The date the candidate assumes the vacant position shall be the first day of the candidate's six-month probationary period. The six-month probati0nary period will be utilized as an opportunity for the candidate and OCSD Q.fSti:iGt management to assess whether or not the decision was appropriate. The candidate may be returned to his/her previous position if the decision is determined to be Inappropriate. 5.8.6 If a candidate is not selected from the internal recruitment process, the position will be posted for external candidates immediately to ensure an adequate amount of time for cross-training. Page 6 of 11 Book Page 48 6.0 EXCEPTIONS 6.1 EMPLOYMENT OF FORMER EMPLOYEES 6.1.1 Employment of former employees for full-time equivalent or part-time positions shall be subject to and conducted in accordance with this policy. 6.1.2 Employment of a former employee is subject to the approval of the General Manager and the Director of Human Resources. 6.1.3 In all cases, approval of the General Manager and the Director of Human Resources shall be received prior to an offer of employment to a former employee. 6.1.4 OCSD policy prohibits the rehire of former full-time, regular employees or "at- will" proeationary status employees who: were terminated for workplace misconduct; resigned while charges were pending against the employee; resigned while serving a suspension; failed to provide two weeks written notice in advance of resignation depending upon employment status, unless approved by the Director of Human Resources, or designee; or failed to return to work following an absence without leave of 40 consecutive work hours without notifying the immediate supervisor or the Human Resources Department with an and providing an acceptable reason for their absence. 6.1.5 +Ae--General Manager may, 1.vith the written apprm.1ai of the Board Chair, employ on a part time or as needed easis, a former employee retired from OCSO when the individual possesses knowledge and expertise of unique and particular eenefit to OCSO and when the services are required. The length of service perf-ormed in any one year shall ee limited in accordance with the prm.'isions prescribed by the Orange County Employees' Retirement System (currently 120 day maximum). 6.1.6 Part time or as needed sewice, shall be compensated at the same current hourly rate of the retired employee's position classification, or if no such classification exists, at a rate not to exceeGI that paid for the most comparable classification. The retired employee shall not be entitled to receive any benefits otherwise payable to OCSO en:iployees. In the event any employment under this provision involves work assignments outside of Orange County, the current expense reimlaursement policy estalalished for regular employees will apply. 6.1. 7 If any former employee commences doing business wherein the employee, his/her spouse, or members of his/her immediate family are sole proprietors, or majority or controlling shareholders or owners of a corporation, partnership or other business entity, such business shall not be retained as an independent contractor or consultant to provide service directly to OCSD for a period of one year after leaving OCSD's employment. Thereafter, said business entity shall be allowed to contract with OCSD upon compliance with all resolutions and regulations of OCSD then in effect, relating to the procurement of services. 6.1.8 If any former employee becomes employed by any firm or business entity in which the former employee, his/her spouse or members of his/her immediate family own less than the majority or controlling interest in said entity, said entity shall not be prohibited from contracting with the OCSD. However, the Page 7 of 11 Book Page 49 former employee shall not perform work on OCSD projects for a period of one year after leaving OCSD employment; nor shall such former employee contact OCSD officers or employees for the purpose of attempting to influence any OCSD decision, including but not limited to, the award of contract, issuance of permits, or compromise of administrative civil penalties, for a like period of one year. Said services shall be obtained only in accordance with all rules and procedures of OCSD relating to procurement. 6.1.9 Any OCSD employee who receives an offer of employment or a request to discuss potential employment from any person or business entity performing services for OCSD shall report such contact to his or her immediate supervisor, who shall decide whether any change in assignment is necessary or appropriate while the offer or discussions are pending. 6.1.10 The prohibitions of this policy may be waived by the Finance, Administration and Human Resources Committee of the Boards of Directors if, on a case-by- case basis, it is determined to be in the best interests of OCSD to do so. 6.1.11 All former employees who are rehired will be placed on an initial probationary period as defined in this policy. All prior service with OCSD will not be counted for accrual purposes including, but not limited to, leaves of absence and seniority. 6.2 RE-EMPLOYMENT OF OCSD RETIRED EMPLOYEES 6.2.1 The General Manager may, with the written approval of the Board Chair, employ on an as-needed basis, a former employee retired from OCSD when the individual possesses knowledge and expertise of unique and particular benefit to OCSD. The length of ser:viee performed in any one year shall be limited in accordance with the previsions prescribed by the Orange County Employees' Retirement System (currently 120-day maximum). 6.2.2 As-needed service, by a former employee retired from OCSD, shall be compensated at the same current hourly rate of the retired employee's pesitic,m classification, or If no such classification exists1 at a rate not to exceed that paid for the most comparable classification. The retired employee shall not be entitled to receive any benefits otherwise payable to OCSD employees. In the event any employment under this provision involves work assignments outside of Orange County, the current expense reimbursement policy established for regular employees will apply. 6.2.3 On occasion, OCSD may offer an early retirement incentive to staff under ec~momic conditions in which It is deemed neeessary. Empl0yees who select an early retirement incentive offered by OCSD may not be eligil:>le for rehire. 6.3 EMPLOYMENT OF RELA T/VES 6.3.1 Except as otherwise provided by law, no employee, prospective employee or applicant shall be denied employment or benefits of employment solely on the basis of his or her familial relationship with an employee of the agency or a member of the Board of Directors. 6.3.2 OCSD will make reasonable efforts to assign job duties to eliminate any potential for an adverse impact on supervision, safety, security or morale, or potential conflicts of interest. Page 8 of 11 Book Page 50 6.4 LATERAL TRANSFERS 6.4.1 Employees may request a lateral transfer to a budgeted vacant position within the same classification of another department. For a lateral transfer to be considered, the employee must have demonstrated satisfactory performance within the last six months of the request and have no pending disciplinary action. The lateral transfer must be of benefit to OCSD. providing they ha¥e demonstrated at least six months of continuous competent or aeove performance in the current position, and the transfer is of eenefit to OCSD. 6.4.2 Employees who wish to be considered for a lateral transfer shall sl=!oo-14 notify the Human Resources Department in writing of their intent prior to recru itment of the budgeted position. Employees who are interested in a lateral transfer, but are unaware of any budgeted vacant positions within the same classification, may contact the Human Resources Department. The employee's written intent must be approved by any affected department head and the Director of Human Resources. In the event a transfer is approved and accepted by the employee, the department from which the employee is transferring may determine the effective date based upon operational requirements and a reasonable period of time to acquire a suitable replacement. 6.4.3 Lateral transfers do not normally involve increased levels of duties and responsibilities, or otherwise qualify as promotions, and therefore do not involve salary adjustments. 6.4.4 In the event an adjustment appears warranted based on extenuating circumstances, the adjustment must have written approval from the department head prior to being extended to the employee. 7 .0 PROVISIONS AND CONDITIONS 7.1 The interview process for Student Intern positions shall be an abbreviated version of the process outlined in section 5.5 and will be administered by the appropriate division manager/supervisor and a Human Resources representative. 7.2 OCSD's Board of Directors must approve unbudgeted positions for new hires or promotions before any internal or open recruitment effort is initiated. 7.3 Hiring an individual into a budgeted position requires the approval of the Department Head and General Manager. 7.4 Promoting an individual into a budgeted position requires the approval of the Division Manager, Department Head or General Manager. 7.5 OCSD retains the right to refuse to place a relative under the direct supervision of an OCSD employee where such has a potential for creating an adverse impact on supervision, safety, security or morale. 7.6 OCSD retains the right to refuse to place relatives in the same department, division, or facility where such has a potential for creating an adverse impact on supervision, safety, security or morale, or involves potential conflicts of interest. 7.7 Employees on Performance Improvement Plans are not eligible for promotional opportunities. Page 9 of 11 Book Page 51 7.8 INITIAL PROBATIONARY PERIOD 7 .8.1 Unless designated All persons Aired by OCSO, except tAose desjgnated as an "at-will'' Executive Management Team (EMT) member or student Intern, all new empl0yees and employees who are reassigned or laterally transferred serve a probationary period. In accordance with applicable MOUs and policies, the prat>ationary perioa begins with the date of hire, reassignment, or transfer and exter:ids ta at least the first day of the pay period following twenty-six weeks of employment without a break in service. employees 3fe considered to be probationary employees for a period of at least tAe first 26 weeks or 6 montAs of employment, depending l:.lpon tAe applicable MOU provisions and/or policy, beg inning witA their date of Aire. For new employees, this probationary period is regarded as an extension of th e hiring process, and provides an opportunity for both the employee and OCSD's management to assess, over a substantial period of time, whether or not the hiring decision was appropriate and resulted in a relationship that adequately meets the needs of both the individual and OCSD. 7.8.2 The probationary period may be extended by mutual agreement between OCSD and the employee, prior to the expiration of the probationary period. An employee's probationary period may be extended when there is a need to further assess the individual's abilities to satisfactorily perform the duties required for their job classification. Probationary employees may be released by OCSD at any time during the probationary period (including any extension) without cause or reason. 7.8.3 A probationary employee's work performance is closely monitored during this period to ensure that the employee understands the duties, responsibilities and management expectations of the position, and to allow an opportunity for the supervisor or manager to provide proper direction and guidance. Employees who do not demonstrate the potential for meeting performance expectations for their position within a reasonable period of time may be released prior to the completion of th e Probationary Period. Probationary employees shall serve at the will of OCSD during this period. In the event of release of a probationary employee, the employee shall not be entitled to receive any severance pay. 7.9 PROMOTIONAL PROBATIONARY PERIOD 7.9.1 All promoted employees, except those designated as "at-will" employees, shall serve a promotional probationary period lasting at least 120 days or 6- months, depending upon the applicable MOU provisions, beginning with the effective date of promotion . This period is regarded as an extension of the selection process, and provides an opportunity for both the employee and OCSD management to assess, over a substantial period of time, whether or not the decision was appropriate. 7.10 REFERENCE CHECKS 7 .10.1 Employment with OCSD is contingent upon a pre-employment screening process which includes a physical examination, drug/alcohol test and background investigation. Candidates must also be able to provide documentation authorizing their legal right to work in the United States as per the Immigration Reform and Control Act of 1986. Page 10 of 11 Book Page 52 7.10.2 OCSD may verify information contained in the job application of a prospective employee with the prospective employee's authorization. 7.10.3 Inquiries to OCSD employees regarding reference or employment verification checks of former or present employees shall be discussed with or referred to Human Resources prior to any response. 8.0 RELATED DOCUMENTS 8.1 OCSD Student Intern Program Human Resources Intern Program guidelines 8.2 Policy 8160.00, EMT Recruitment 8.3 Policy FS0.00, Problem Solving Procedure 8.4 Policy F60.00, Grievance Procedure 8.5 Policy C180.00, At-Will Policy 8.6 Local 501 , Operations and Maintenance Unit MOU 8.7 Administrative and Clerical Unit MOU 8.8 Engineering Unit MOU 8.9 TechniGal Services Un1t MOU 8. 1 O Professional Gro1,1p MOU 8. 11 Supervisor Groug MOU 501 , OCEA and SPMT Memorandums of Understanding (MOUs) Page 11 of 11 Book Page 53 Book Page 54 @ Orange County Policy Number: C190.00 Sanitation District Effective Date: FebruaF}' 25, 2004 March 23, 2005 Subject: Variable Non Base Pay Supersedes: October 22, 2003 Non-Base Building Pay February 25, 2004 1.0 PURPOSE 1.1 1.1 Approved by: Lisa L. Tomko The pllrpose of this policy is to establish llniform gllidelines and procedllres for variable pay other than basic hollrly rate. This 1,<ariable pay includes: overtime pay for non exempt employees, acting pay, call back pay, standby pay, providing unscheduled 0 1,ertime meals, severance pay and diffemntial shift pay. The purpose of this policy is to establish uniform guidelines and procedures for non-base building pay that does not become a permanent part of base pay, and may vary in amount from period to period. 2.0 ORGANIZATIONAL UNITS AFFECTED 2.1 Overtime pay for non-exempt applies to all Orange County Sanitation District (OCSD) employees represented by the Engineering Unit, Technical Services Unit, Administrative/Clerical Unit, Operations and Maintenance and nonexempt confidential positions. 2.2 Acting pay, unscheduled overtime meals and severance pay applies to all OCSD employees regardless of their organizational unit. 2.3 Call-back pay and standby pay applies to all non-exempt OCSD employees regardless of their organizational unit. 2.4 Shift differential pay applies to all OCSD employees who are covered by an MOU that entitles them to shift differential pay. 2.5 Var1able Special Pay applies to Executive Management Team, Manager Group, and exempt Confidential Group employees and positions. 3.0 DEFINITIONS 3.1 Acting means performing substantially all of the duties of a vacant budgeted position with a higher maximum rate of pay. 3.2 Call-back pay is paid to an employee by OCSD when an employee is called back to work by management without prior notice, and the employee has completed his or her normal work shift and left the worksite ~. or when prior notice is given but the work begins on the same day at least three hours after completion of the regular shift, the employee shall receive a minimum of three hours of call-back pay. Page I of7 Book Page 55 3.3 Non-Exempt employees who are covered by the minimum wage and overtime provisions of the Fair Labor Standards Act, as amended. Such employees, because of the type of work that they perform and their earnings level, are subject to receiving overtime pay in addition to any entitlement otherwise provided for in applicable Memoranda of Understanding or other policies. 3.4 Overtime is the number of hours, which are counted as time worked, in excess of 40 hours during a workweek. For purposes of overtime_, all time charged to unscheduled leave will not be counted as time worked. 3.5 Salary Range is the approved salary minimum and approved salary maximum for eaeh pay grade in OCSD's approved compensation structure. 3.6 Standby is time during which an employee is not required to be at the work location or at the employee's residence but is required to be available for immediate return to work. 3.7 Workweek for full-time employees is 40 hours per 168-hour period, to be paid on a biweekly payroll basis of 80 hours worked. Employee work periods may be scheduled in shifts of four 9-hour days, and one 4-hour day each workweek (9/80 schedule), five 8-hour days each workweek ( 10/80), four 10- hour days each workweek (8/80), or three 12-hour days and one 4-hour day each workweek (7/80). The starting and ending times of individual employees' workweeks may vary. 3.8 Variable Special Pay is asditional compensation in the farm of a one-time lump sum payment for an eligit:>le employee ~ho assumes the responsibilities of another position for an exteAded period of time due to a leave of absence or unusual circumstances. 4.0 POLICY 4.1 OVERTIME PAY FOR NON-EXEMPT EMPLOYEES 4.1.1 Non-exempt employees who qualify for overtime compensation in excess of 40 hours in a workweek f.or work beyond their normal schedule shall be paid one-and-a-half times their regular rate of pay in accordance with the procedures listed in section 5.1. 4.2 ACTING PAY 4.2.1 It is OCSD's policy to compensate employees, for performing substantially all of the duties of a vacant budgeted position with a higher maximum rate of pay in accordance with the procedures listed in section 5.3. 4.2.2 Acting pay status shall be limited to continue f.or a maximum of six months. 4.3 CALL-BACK PAY 4.3.1 It is OCSD policy to compensate employees for call-back pay in accordance with the procedure listed in section 5.4. Page 2 of7 Book Page 56 4.4 STANDBY PAY 4.4.1 An employee covered by a Memorandum of Understanding provision for standby pay who is placed on standby shall be compensated at the rate of two hundred dollars per week, and will also receive call-back pay when they are actually called to work in accordance with the procedures listed in section 5.5. 4.5 UNSCHEDULED OVERTIME MEALS 4.5.1 It is OCSD policy to provide employees with actual food service or reimbursement mGRey for meals and/or food service when they are required to serve unscheduled overtime in accordance with the procedures listed in section 5.6. 4.6 SEVERANCE PAY 4.6.1 Employees are expected to give a minimum of two weeks written notification, depending upon employment status, when resigning from employment with OCSD. OCSD will follow the procedures for a Notice of Intent to separate as listed in section 5.7. 4.7 SHIFT DIFFERENTIAL PAY 4. 7.1 It is OCSD policy to compensate employees for shift work outside normal business hours at an hourly rate above their normal hourly rate in accordance with the procedures listed in section 5.8. 4.8 VARIABLE SPECIAL PAY 4.8.1 Eligible employees will receive additional compensation in accordance with the procedures listed in section 5.9. 5.0 PROCEDURE 5.1 OVERTIME PAY FOR NON-EXEMPT EMPLOYEES 5.1.1 Non-exempt employees shall not be paid overtime compensation until 40 hours of work time, which includes scheduled leave, is reached in a seven (7) day workweek. 5.2 HO/LIDA Y PAY 5.2.1 When an employee's work schedule requires that they work on an observed holiday, the employee may opt to be paid at two-and-one-half times the regular rate of pay for the holiday or to be paid at one-and-one- half times the regular rate and receive an equivalent amount of Holiday Compensatory Time Off equivalent to the number of hours in the shift. Normally, employees that accumulate in excess of fifty hours of Holiday Compensatory Time Off will be scheduled to take such excess time off or be paid for the excess accumulated Holiday Compensatory Time Off at the convenience of OCSD. For good reason, the Department Head may allow Holiday Compensatory Time Off to be accumulated in excess of fifty hours. Page 3 of7 Book Page 57 5.3 ACTING PAY 5.3.1 Employees who are temporarily assigned by OCSD management to perform substantially all of the duties of a higher level classification for a period of at least 100 consecutive hours will be eligible for a salary increase up to a maximum of six months. for f.urther continued service in the higher classification. 5.3.2 For service beyond 100 consecutive hours, pay shall be one step greater than the employee's current rate of pay, or at the minimum of the pay range for the acting position, whichever is greater. 5.3.2.1 The higher rate of pay begins with the 101 st hour, and continues until the assignment ends. 5.3.2.2 Requests for acting pay require the approval of the employee's Department Head and the Director of Human Resources. 5.4 CALL-BACK PAY 5.4.1 When an employee is called back to work by OCSD without prior notice, and the employee has completed his or her normal work shift for that day and left the work site, or when prior notice is given by OCSD, but the work begins on the same day at least three hours after completion of an employee's regular shift the employee shall receive a minimum of three hours of call-back pay. The three hours minimum, whether or not actually worked, shall be paid at the rate of one and one half times the employee's regular hourly rate. If the actual work time exceeds three hours, the employee will be compensated for that time as well, except that no employee may work for or be compensated for more than 16 hours in a 24-hour period. Employees who are called back a second time Within a normal shift period are considered to be working for the duration of that shift. 5.5 STANDBY PAY 5.5.1 Standby assignments shall first be made on a voluntary basis. 5.5.2 A volunteer standby list shall be established by classification and job location. 5.5.3 Standby assignments shall be made from the list of employees who are competent and experienced, in alphabetical order, on a rotating basis. 5.5.4 In the event that no one volunteers, OCSD shall, on a rotational basis, assign standby by job classification and work location from employees who are competent and experienced. 5.6 UNSCHEDULED OVERTIME MEALS 5.6.1 When employees are required to work overtime due to an emergency, and actually work at least five hours, or due to an unanticipated extension of their regular workday that includes a regular meal period, tAe employees are is entitled to reimbursement for the actual cost of a meal, not to exceed applicable per diem amounts in addition to any compensation for time worked. Receipts are Page 4 of7 Book Page 58 not required to receive the per diem amount. In lieu of cash reimbursement, OCSD may provide actual food service to the employees. 5.7 SEVERANCE PAY 5. 7 .1 Employees are expected to give a minimum of two weeks written notification, depending upon employment status, when terminating employment with the District. When a full-time regular employee is separated from employment by action of OCSD, except for disciplinary cause, the employee will be notified in writing through a Notice of Intent to Separate two weeks prior to the effective separation date. The employee will be entitled to severance pay in accordance with the formula set forth below: The notification period for employees on unpaid lea¥e will be reduced by the number of calendar days of such leave. In the eveht such notification is not given below: 5.7.1 .1 Full-time, regular employees shall be entitled to eight hours pay for each full calendar month of continuous employment not to exceed one hundred sixty hours pay, or as may be determined by the General Manager. 5. 7 .1.2 Employees in limited term or part-time classifications, Student Interns, probationary employees, and employees who are dismissed for cause are not eligible for severance pay under any circumstances. 5.8 SHIFT DIFFERENTIAL PAY 5.8.1 Employees who are regularly assigned to work a night shift that consists of 50% or more of their hours between 6 p.m. and 6 a.m., and who actually work that shift, shall receive a shift differential of $2.50 per hour. 5.9 VARIABLE SPECIAL PAY 5.9.1 An eligible employee must assume the responsibilities of another position for at least 30 days in order to receive Variable Special Pay and such pay is limited to no more than three (3) months. 5.9.2 Requests for Variable Special Pay require a review by the Human Resources Department and approval of the General Manager. 5.9.3 Employee retains the normal duties of his/her own position when assuming the responsibilities of another position. 5.9.4 One-time lump sum payment shall be applied at the end of leave of absence coverage. 5.9.5 Calculation of Variable Special Pay is as follows: 5.9.5.1 Determine number of workweeks of the leave of absence. Four (4) workweeks equals one month. Two (2) workweeks equals half of a month. 5.9.5.2 For employee covering the leave of absence, multiply 1 % of the annual base salary which will equal the "baseline amount". Page 5 of7 Book Page 59 5.9.5.3 Multiply the "baseline amount'' by the number of months covered,, which will equal the one-time lump sum of the Variable Special Pay (VSP) amount. Example: Employee covering leave of absence: Annual Base Salary = $90,000 1 % x $90,000 = $900 ("baseline amount") VSPAmount 6.0 EXCEPTIONS 1 month of coverage 1.5 months of coverage= $900 x 1.5 2 months of coverage = $900 x 2.0 2.5 months of coverage = $900 x 2.5 3 months of coverage = $900 x 3.0 = $ 900 = $1,350 = $1,800 = $2,250 = $2,700 6.1 Acting pay -the 100-hour eligibility period may be waived at the discretion of the General Manager. 6.2 Variable Special Pay -Coverage for a leaye of absence longer than three (3) months shall be re-evaluated by the Human Resources Department and if applicable re-approved by the General Manage based upon business necessity, operational requirements, or any other extenuating circumstance. 7.0 PROVISIONS AND CONDITIONS 7.1 7.2 Standby pay -a standby list will be developed by the Operations and Maintenance Department weekly, and it shall be posted at both the Plant No. 1 Control Center and at the Plant No. 2 Operations Center. Severance pay -employees who are dismissed for cause will not receive a Notice of Intent to Separate under the provisions of the policy. 8.0 RELATED DOCUMENTS 8.1 Fair Labor Standards Act 8.2 Policy F20.00, Hours of Work -Non-Exempt Employees 8.3 Policy F20.10, Hours of Work -Exempt Employees 8.4 Local 501, Operations and Maintenance Unit MOU 8.5 Administrative and Clerical Unit MOU 8.6 Engineering Unit MOU 8. 7 Technical Services Unit MOU 8.8 Professional Group MOU Page 6 of7 BookPage 60 8.9 Supervisor Group MOU Page 7 of7 Book Page 61 Rook Page 62 ** 5.5 Employees who are assigned to eight, nine or ten-hour shifts, Monday ~hrough Friday, will observe the holidays listed in Schedule A. Employees who are assigned to twelve- hour shifts will observe the holidays as listed in Schedule B. SCHEDULE A HOLIDAY 2005 2006 2007 New Year's Day Friday, December 31 Monday, January 2 Monday, January 1 Lincoln's Birthday Friday, February 11 Monday, February 13 Monday, February 12 President's Day Monday, February 21 Monday, February 20 Monday, February 19 Memorial Day Monday, May 30 Monday, May 29 Monday, May 28 Independence Day Monday, July 4 Tuesday, July 4 Wednesday, July 4 Labor Day Monday, September 5 Monday, September 4 Monday, September 3 Veteran's Day Friday, November 11 Friday, November 10 Monday, November 12 Thanksgiving Day Thursday, November 24 Thursday, November 23 Thursday, November 22 Day after Thanksgiving Friday, November 25 Friday, November 24 Friday, November 23 Day before Christmas Friday, December 23 Monday, December 25 Monday, December 24 Christmas Day Monday , December 26 Tuesday , December 26 Tuesday , December 25 Floating Holiday ** ** ** SCHEDULE B HOLIDAY 2005 2006 2007 New Year's Day Saturday, January 1 Sunday, January 1 Monday, January 1 Lincoln's Birthday Saturday, February 12 Sunday, February 12 Monday, February 12 President's Day Monday, February 21 Monday, February 20 Monday, February 19 Memorial Day Monday, May 30 Monday, May 29 Monday, May 28 Independence Day Monday, July 4 Tuesday, July 4 Wednesday, July 4 Labor Day Monday, September 5 Monday, September 4 Monday, September 3 Veteran's Day Friday, November 11 Saturday, November 11 Sunday, November 11 Thanksgiving Day Thursday, November 24 Thursday, November 23 Thursday, November 22 Day after Thanksgiving Friday, November 25 Friday, November 24 Friday, November 23 Day before Christmas Saturday, December 24 Sunday, December 24 Monday, December 24 Christmas Day Sunday , December 25 Monday, December 25 Tuesday , December 25 Floating Holiday ** ** ** Employees may elect one day during each year as a "·i;:Ioa~ing ~oliday." New employees •~ill . accrue the "i;:loating Holiday" on the following pro rata basrs their first ealendar year of sef\_Iee. 1st quarter hire 100%, 2nd quarter hire -75%, 3rd qYarter hire 50%; and 4th qYarter hire - 0%. The "Floating Holiday" must be used within the year it is aecrued. Page 2 of4 Book Page 64 Every effort shall be made to grant an employee's request for a "Floating Holiday" off pro•1iding an employee gives sufficient notice to their supervisor. It is recommended that the floating holiday be utilized by the last full pay period in Qecember of the year in which it is accrued however, if an employee chooses to use the floating holiday after the last full pay period up until December 31 , they may. The employee should notify payroll if they choose the latter option. 5.6 Floatin@ Holiday 5.6.1 Employees may elect one day during each calendar year as a Floating Holiday. 5.6.2 There will be no more than one Floating Holiday granted to an employee in any calendar year. 5.6.3 New hires will be granted the Floating Holiday on the following pro-rata basis, depending on the employee's work schedule, in their first calendar year of service: Percent of Hire Month Floating Holiday Granted January -March 100% April -June 75% July -September 50% October -December 0% 5.6.4 The Floating Holiday shall only be used as a full day increment unless the holiday is pro-rated according to the percent of holiday grantel:I as ljsted in section 5.6.3 above. As such, the percent of holiday granted shall be used in one occurrence. 5.6.5 The Floating Holiday must be used within the year it is granted. The Floating Holiday will not be carried over from one calendar year to the next. If not used within the year granted, the Floating Holiday is lost. 5.6.6 Within the year granted, an unused Floating Holiday is not subject to cash out or eligible for any mandatory payout regardless of the reason. 5.6.7 Every effort shall be made to grant an employee's request for a Floating Holiday off, subject to business requirements, i,,roviding an employee gives sufficient advance notice to his/her supervisor. 5.6.8 Floating Holiday should be used by the last full pay period in December of the year in which it is granted. However, an employee may choose to use the Floating Holida¥ after the lastfull pay period up until December 31 . 6.0 EXCEPTIONS 6.1 When an employee is on medical or pregnancy leave, holidays will be paid only during disability waiting period if employee is in a continuous paid status. All other holidays that occur outside the waiting period will not be paid , regardless if employee is in paid status or not. 6.2 Part time employees, who work on a holiday are not eligible to receive overtime pay. Page 3 of 4 Book Page 65 7.0 PROVISIONS AND CONDITIONS 7.1 If a regularly scheduled holiday occurs on a Saturday, the previous Friday shall be taken off as the "holiday" for pay purposes. If a regularly scheduled holiday occurs on a Sunday, then the following Monday shall be taken off as the "holiday" for pay purposes. 7.2 In all cases, the Floating Holiday must be used within the calenaar _year granted. 7 .3 Student Interns are ex~luded fro111 this policy. 8.0 RELATED DOCUMENTS 8.1 Lecal 501 , Operations-and Maintenance Unit MOU 8.2 Administrative and Clerical Unit MOU '8.3 Engineerin_g Unit MOU 8.4 Technical Services Unit MOU 8.5 Professional Gre_up MOU 8.6 Supervisor Group MOU Page4 of4 Book Page 66 @ Orange County Policy Number: F70.00 ' . Sanitation District Effective Date: February 25, 2004 March 23, 2005 Subject: DISCIPLINE Supersedes: April 26, 2000 February 25, 2004 Approved by: Lisa L. Tomko 1.0 PURPOSE 1.1 The purpose of this policy is to establish uniform guidelines and procedures for use in the administration of fair and consistent discipline in instances where employees have exceeded the limits of acceptable behavior or performance. 2.0 ORGANIZATIONAL UNITS AFFECTED 2.1 This policy applies to all current Orange County Sanitation District (OCSD) employees regardless of their organizational unit. 3.0 DEFINITIONS 3.1 Discipline is the occurrence of any of the following actions taken for just cause with respect to any employee: verbal reprimand, written reprimand, suspension without pay, reduction in pay, demotion to a classification with a lower maximum rate of pay, or dismissal. 3.2 Dismissal is the separation from OCSD employment of a regular non probationary employee initiated by OCSD for just cause. "Termination" means dismissal, and the terms are used interchangeably throughout this policy manual. 3.3 Serious Misconduct is performance or conduct connected with an employee's work that the employee knows or reasonably should have known was unsatisfactory. While not an exhaustive list, such performance or conduct may involve behaviors listed in section 5.5 of this policy. 4.0 POLICY 4.1 OCSD is committed to practicing supervisory and management practices and procedures which support effective operations in the best interest of OCSD and of employees. Such procedures include the administration of fair and consistent discipline in instances where employees have exceeded the limits of acceptable behavior or performance. Employment with OCSD is voluntarily entered into, and employees have the right to resign within the guidelines of Memorandums of Understanding and administrative policies at any time to pursue other interests. Similarly, OCSD has the right to conclude an employment relationship for proper cause when it is believed to be in OCSD's best interests. 4.2 The General Manager is authorized and directed to exercise supervision over all employees and to impose discipline, for just cause, upon any person employed under the provisions of this Policy for both general and serious violations. 4.3 The General Manager shall establish rules and guidelines pertaining to the procedures governing such actions. Page I of3 Book Page 67 4.4 The General Manager is authorized to delegate his authority herein to the Department Heads, Division Managers, Director of Human Resources and other management and supervisory employees, as the General Manager deems appropriate. Notwithstandlng the foregoing, "at 111ill" Executive Management employees may be dismissed at any time, without notice or just ~ 4.5 Notwithstanding the foregoing, Executive Management and cantract employees who have signed an agreement to sever at the pleasure of the Joint Board or General Manager, is "at will" and may be dismissed at any time, without notice or just cause. 5.0 PROCEDURE 5.1 Discipline may occur when any of the following actions are taken for just cause with respect to any employee: verbal reprimand, written reprimand, suspension without pay, reduction in pay, demotion to a classification with a lower pay grace maximum rate of pay, or dismissal. Dismissal is the termination from OCSD employment, of a non-probationary employee, initiated by OCSD for just cause. Employees exempt from overtime pursuant to the Fair Labor Standards Act, however, shall not be subject to suspension without pay for less than one week except for major safety violations. 5.2 A Notice of Intent to impose disciplinary action is not required when the disciplinary action involves verbal reprimand or written reprimand. 5.3 A Notice of Intent to impose disciplinary action is required and will be given to an employee whenever the disciplinary action involves suspension without pay, reduction in pay, demotion to a classification with a lower Ji)ay grade maximum rate of pay, or dismissal. The Notice of Intent shall be given to the affected employee either by delivery in person or by Certified Mail sent to the employee's last know address. The Notice of Intent shall indicate the date on which it was personally delivered or deposited in the mail, which shall be the date of issuance. 5.3.1 The Notice of Intent shall contain the following: (1) a description of the disciplinary action intended and the effective date of the action, (2) the reasons for the proposed action; (3) a copy of the charges and materials upon which the action is based; and, (4) a statement of the employee's right to respond, either verbally or in writing to the person initially imposing the discipline, or to an OCSD management representative with authority to make an effective recommendation on the proposed action, the person to whom any response must be directed, and the fact that such response must be received within ten business days of the date of issuance of the notice. The Notice will also advise the employee of the right to representation. 5.4 Prior to the effective date of any proposed disciplinary action requiring a Notice of Intent, the employee will be given an opportunity to respond either orally or in writing to a management representative with authority to make an effective recommendation on a proposed action. After review of an employee's response, OCSD will notify the employee in writing of any action to be taken. Such action may not involve discipline more severe than that described in the Notice of Intent; however, OCSD may reduce discipline without further notice. 5.5 Dismissal shall be proceeded preceded by at least one written reprimand 1 except in those situations in which the employee knows or reasonably should have known that the performance or conduct was unsatisfactory. Such performance or conduct may involve, but is not limited to: dishonesty, possession, use, sale or being under the influence or drugs or alcohol, theft or misappropriation of OCSD's property or funds, falsification of OCSD's records, fighting on the job, insubordination, acts endangering people or property, or other serious misconduct. OCSD may alsG-sL1bstitute a documented suspension without pay, in lieu Gf-..tAe for written reprimands requirement herein. Page 2 of3 Book Page 68 5.6 If a Notice of Intent is upheld and the disciplinary action is imposed, the employee may request a post-disciplinary hearing. The request must be submitted to the Director of Human Resources or designee within ten business days after the date of issuance of the notice of disciplinary action. Human Resources shall schedule a post-disciplinary hearing with the General Manager or his designee. The General Manager, or his designee, may uphold the disciplinary action, which has been taken or may reduce such discipline without the issuance of further notice. The decision of the General Manager or his designee shall be final. 5.7 OCSD may place an employee on administrative leave without prior notice in order to review or investigate allegations of conduct which, in OCSD's view, would warrant relieving the employee immediately from all work duties. If, upon conclusion of the investigation, neither suspension without pay nor dismissal is determined by OCSD to be appropriate, the employee shall be paid for the leave. Although an administrative leave may exceed fifteen business days, if a suspension without pay is determined to be the appropriate discipline, a maximum of fifteen business days of the administrative leave period may be applied to such suspension without pay. 6.0 EXCEPTIONS 7.0 PROVISIONS AND CONDITIONS 7.1 The General Manager, Executive Management Team (EMT) members, new-hire probationary employees, and Student Interns serve "at-will" and may be released from employment without cause or recourse to any appeal or grievance procedures. 8.0 RELATED DOCUMENTS 8.1 Policy 8100.00 Employee Separation 8.2 Policy C180.00, "At-Will" Employment 8.3 Local 501, Operations and Maintenance Unit MOU 8.4 Administrative and Clerical Unit MOU 8.5 Engineering Unit MOU 8.6 Technical Services Unit MOU 8.7 Professional Group MOU 8.8 Supervisor Group MOU Page 3 of3 Book Page 69 Book Page 70 RESOLUTION NO. OCSD 05-XX AMENDING RESOLUTION NO. OCSD 98-33 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE ORANGE COUNTY SANITATION DISTRICT AMENDING THE HUMAN RESOURCES POLICIES AND PROCEDURES *************"******"k-lrlrlc'1rk**** The Board of Directors of the Orange County Sanitation District, DOES HEREBY RESOLVE, DETERMINE AND ORDER: Section 1: That Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. B100.00, Employee Separation, set forth in Attachment No. 1, attached hereto and incorporated herein by reference. Section 2: That Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. B 120. 00, Outside Employment, set fourth in Attachment No. 2, attached hereto and incorporated herein by reference. Section 3: That Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. B150.00, Recruitment and Selection, set fourth in Attachment No. 3, attached hereto and incorporated herein by reference . Section 4: That Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. C190.00, Variable Non-Base Pay, set fourth in Attachment No. 4, attached hereto and incorporated herein by reference. Section 5: That Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. 030. 00, Holidays, set fourth in Attachment No. 5, attached hereto and incorporated herein by reference. Section 6: That Exhibit "A" of Resolution No. OCSD 98-33 is hereby amended by amending Policy No. 070.00, Discipline, set fourth in Attachment No. 6, attached hereto and incorporated herein by reference. Section 7: That all other terms and conditions of Resolution No. OCSD 98-33, as previously recommended, shall remai.n in full force and effect. Section 8: That all future amendments to Resolution No. OCSD 98-33 be made by Resolution. PASSED AND ADOPTED at a regular meeting held March 23, 2005. Chair ATTEST: Board Secretary Book Page 71 Book Page 72 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Robert Ghirelli, Director of Technical Services Originator: Mahin Talebi, Source Control Manager Meeting Date To Bd. of Dir. Q3/09/0S o~-23-o~ Item Number 1tem Number FAHR0S-18 SUBJECT: Resolution No. OCSD05-_ , Establishing Fats, Oil, and Grease Control Program Fees Applicable to Food Service Establishments GENERAL MANAGER'S RECOMMENDATION Adopt Resolution No. OCSD05-_, Establishing Fats, Oil, and Grease Control Program Fees Applicable to Food Service Establishments. SUMMARY ._ On November 17, 2004, the Board of Directors adopted Ordinance No. OCSD-25 regarding FOG control regulations applicable to food service establishments. This Ordinance was adopted to comply with Order RS-2002-0014 (Order) issued to the District and 32 other agencies by the California Regional Water Quality Control Board. The Order prescribes general waste discharge requirements prohibiting sanitary sewer overflows (SSOs) by sewer collection agencies. The Order states that one of the leading causes of the SSOs is "grease blockages caused by food service establishments discharging FOG into the sanitary sewer system." As a result of the Order and the need to reduce SSOs, the District developed a FOG program and adopted an Ordinance to regulate and control the discharge of FOG to the sewer system. • Pursuant to the FOG Ordinance, food service establishments must obtain a FOG Waste Discharge Permit and pay an application fee in an amount established by resolution of the Board of Directors. In addition, food service establishments who are found to be in noncompliance with the terms and conditions of their permits or the provisions of the Ordinance No. OCSD-25 will be subject to a general noncompliance fee, also in an amount established by resolution of the Board of Directors. • Staff has calculated the following fees: • Annual Permit Fee: $100 per year (includes recoverable costs of administrative processing and maintenance of a FOG Wastewater Discharge Permit issued to food service establishment) • General Noncomplia nce Fee: $100.00 per day (includes recoverable costs of additional monitoring activities and administrative processing incurred resulting from the noncompliance). Book Page 73 PRIOR COMMITTEE/BOARD ACTIONS • November 17, 2004 -Board Action: Adopted FOG Ordinance No. OCSD-25. PROJECT/CONTRACT COST SUMMARY N/A BUDGET IMPACT • • • ~ This item has been budgeted. (Line item: ) This item has been budgeted, but there are insufficient funds. This item has not been budgeted. Not applicable (information item) ADDITIONAL INFORMATION • Fee calculations are illustrated in the attached spreadsheet. ALTERNATIVES N/A CEQA FINDINGS N/A ATTACHMENTS • ATTACHMENT 1 -Proposed Resolution for Fats, Oil, and Grease Fees • ATTACHMENT 2 -Fee Calculation Spreadsheet Book Page 74 Page2 RESOLUTION NO. OCSD-05- ESTABLISHING FATS, OIL, AND GREASE CONTROL PROGRAM FEES APPLICABLE TO FOOD SERVICE ESTABLISHMENTS A RESOLUTION OF THE BOARD OF DIRECTORS OF THE ORANGE COUNTY SANITATION DISTRICT, ESTABLISHING FATS, OIL, AND GREASE CONTROL PROGRAM FEES APPLICABLE TO FOOD SERVICE ESTABLISHMENTS ******************** WHEREAS, the State of California Regional Water Quality Control Board ("RWQCB") for the Santa Ana Region adopted Order RB-2002-0014, which prescribes general waste discharge requirements prohibiting sanitary sewer overflows ("SSOs") by sewer collection agencies; and WHEREAS, in Order RB-2002-0014, the RWQCB found that one of the leading causes of SSOs within the Santa Ana Region, which encompasses the District's service area is "grease blockages;" and WHEREAS, SSOs often caused by discharge of wastewater containing high levels of fat, oils and grease ('FOG"), suspended solids, pathogenic organisms, and other pollutants, may cause temporary exceedances of applicable water quality objectives, pose a threat to the public health, adversely affect aquatic life, and impair the public recreational use and aesthetic enjoyment of surface waters within the District's service area; and WHEREAS, the 2000-2001 Orange County Grand Jury ("Grand Jury") conducted a survey among 35 wastewater collection and treatment agencies in Orange County and concluded that one of the leading causes of SSOs and sewage spills is sewer lines clogged from the accumulation of FOG discharged from Food Service Establishments; and WHEREAS, the Grand Jury further concluded that more effective methods of minimizing grease discharges into the sewer system must be developed and implemented to reduce the discharge of FOG to the sewer system in order to prevent sewer blockages and SSOs; and WHEREAS, Orange County Sanitation District ("District"), together with 32 other agencies, are collectively named as "Dischargers" in Order No. RB-2002-0014; and WHEREAS, Order No. RB-2002-0014 requires the District to monitor and control SSOs and to develop a FOG Control Program by December 30, 2004; and WS&S-OXS:pj:197983:02/07/05 1 Book Page 75 WHEREAS, in light of the overwhelming evidence that FOG is a primary cause of SSOs, the District desires to implement a FOG Control Program to prevent SSOs; and WHEREAS, the foregoing findings indicate that a FOG Control Program is required for Food Service Establishments within the District's jurisdiction to comply with waste discharge regulations and prevent the harmful effects of SSOs; and WHEREAS, on November 17, 2004, the Board of Directors adopted Ordinance No. OCSD-25 adopting FOG control regulations applicable to Food Service Establishments; and WHEREAS, Ordinance No. OCSD-25 requires Food Service Establishments subject to the regulations to obtain a FOG Wastewater Discharge Permit, and to pay an application fee in the amount set by resolution of the Board; and WHEREAS, Food Service Establishments who are found to be in noncompliance with the terms and conditions of their FOG Wastewater Discharge Permit, Ordinance No. OCSD-25 or other relevant regulations are required to pay a general noncompliance fee, which includes the District's costs of additional monitoring activities and administrative processing incurred resulting from the noncompliance. NOW, THEREFORE, the Board of Directors of the Orange County Sanitation District DOES HEREBY RESOLVE, DETERMINE, AND ORDER: Section 1: Annual Permit Fee . The fee for each FOG Wastewater Discharge Permit issued pursuant to Ordinance No. OCSD-25 or its successors, is $100 per year. For example, a permit for a two-year term is subject to a $200 fee. Section 2: General Noncompliance Fee. The general noncompliance fee is $100. 00 per day for the District follow-up activities due to permit, ordinance or regulatory noncompliance. PASSED AND ADOPTED at a regular meeting held March 23, 2005. Chair ATTEST Board Secretary WS&S -OXS:pj: l 97983:02/07/05 2 Book Page 76 ATTACHMENT 2 -PERMIT AND NONCOMPLIANCE FEE CALCULATIONS PERMIT AND NONCOMPLIANCE FEE CALCULATIONS Time Spent (minutes) and Cost (Dollars) Description Activity Sr. Env Spec. SC lnsp II Prog. Asst. Engr. Supv. Total, min Pennit Fee Calculation 1) Permit Application Processing Initial Notification to Apply for Permit 5 5 {Once/4 years) Review Application 10 10 Inspect Facility 30 30 Inspection Travel Time 40 40 Prepare/Issue Permit 30 5 2 37 Total, minutes 110 0 10 2 122 Hourly Rate {range midpoint), $/hr $ 33.29 $ 30.92 $ 20.32 $ 49.34 Hourly Cost, $ $ 61 .04 $ -$ 3.39 $ 1.64 Total Hourly Cost $ 66.07 Total with 1.3 overhead $ 85.89 2) Permit Maintenance Compliance Tracking 240 240 {During 4-year permit duration) BMP/GI Report Processing 320 320 Total, minutes 240 0 320 0 560 Hourly Rate {range midpoint), $/hr $ 33.29 $ 30.92 $ 20.32 $ 49.34 Hourly Cost, $ $ 133.17 $ -$ 108.36 $ - Total Hourly Cost $ 241.53 Total with 1.3 overhead $ 314.00 ~year FEES TOTAL $ 399.88 I I ANNUAL PERMIT FEE $ 100 I I Noncompliance Fee Calculaitons Time Spent (minutes) and Cost (Dollars) Description Activity Sr. Env Spec. Prog. Asst. Engr. Supv. Total, min Noncompliance Fee Prepare NOV 10 10 Issue NOV 10 3 13 30-day Follow-up lnsp/Monitoring 40 40 Follow-up travel time 40 40 Enforcement Evaluation 30 5 35 TOTAL 120 10 8 138 Hourly Rate (range midpoint), $/hr $ 33.29 $ 20.32 $ 49.34 Hourly Cost, $ $ 66.59 $ 3.39 $ 6.58 Total Hourly Cost $ 76.55 Total with 1.3 overhead $ 99.52 GENERAL NONCOMPLIANCE FEE $ 100 Book Page 77 Book Page 78 FAHR COMMITTEE Meeting Date To Bd. of Dir. 3/9/05 AGENDA REPORT Item Number Item Number FAHR0S-19 Orange County Sanitation District FROM: Blake Anderson, General Manager SUBJECT: Proposed Formation of New Department: Regional Assets and Services GENERAL MANAGER'S RECOMMENDATION This is an early information item with an opportunity for the FAHR Committee to provide early feedback to the General Manager. As the FY 2005-06 budgeting process moves forward during April, May and June, this department will be formally proposed for consideration by the FAHR Committee and by the Board of Directors. SUMMARY The Sanitation District presently has a division within the Operations and Maintenance Department called Regional Assets and Services. This proposed change will elevate this division to full departmental status. There are two reasons for this proposal. First, it will mean that the sewer maintenance related activities of this group will have direct review and access to the EMT and the General Manager. With this change, our weekly EMT meetings will have regional sewer policy and strategy as part of the mix of issues we regularly address. Why is this important? Over the last five years, the Sanitation District has taken on an increasingly active role in leading and assisting the cities within our service area. Examples including staff training and standardized contracts for sewer cleaning and video inspections of the small diameter sewer lines owned and operated by the cities. We also mail an annual questionnaire to every one of the public agencies that own sewers in our service area and compile the results into an annual report. This report provides an accurate and current assessment of the sewer lines in our service area and the measures and practices that are employed to maintain them. In April 2002, the Regional Water Quality Control Board issued "Waste Discharge Requirements" for all the Sanitation District and all of the satellite systems operated by cities and special districts within our service area, including the military bases and El Toro Water District. This action added a large number of new responsibilities that every city and sanitary district within our service area must complete. The Sanitation District has lead coordination responsibility for a number of these tasks. They are related to sewer maintenance, spill reporting, and FOG control. As this group adds to it technical leadership and provides more assistance to our members agencies, regional sewers H:ldeptlaganda\FAHR\FAHR2005\0305\05-19.Ragional Assets doc Revised: 06/04/03 Book Page 79 Page 1 become increasingly important to the overall strategic intention of the Sanitation District. In 2003, we renamed this group Regional Assets and Services (formerly Collections Division) to make a tlear statement of its expanding role. This trend is expected to continue into the foreseeable future. Second, elevating this division to department status will prepare the Sanitation District for expected changes that will occur in the next 12 to 18 months in how the County, cities and special districts work cooperatively to manage urban runoff. The institutional arrangements and inter-agency agreements between the various players-including the Sanitation District-will come to life soon. The Sanitation District's role in urban runoff today consists of accepti,ng approximately 2 million gallons per day of diversions without cost from 12 locations in Fountain Vc1lley, Huntington Beach, and Newport Beach. When fees are eventually imposed on property owners to pay for this service, then many rn.ore new diversion locations will be proposed by others. This group will manage this evolving practice. As new regional projects are identified, it is very likely that the technical expertise of the Sanitation District will part of the effort. The Sanitation District may take a subordinate or lead role in these regional projects. Our role will be decided later by deliberation of our own board and the expres·sed preferences of otherr govern.mental bodies. A likely scenario is that several cities, the Sanitation District and the County will form project management agreements that result in new sy,stems that are designed, constructed and maint,ai'ned. Those projects with a dry weather urban runoff diversion element to them will absolutely require our time and attention to make certain they operate as they are intended and do not cause unintended impacts on our very large and dynamic regional wastewater treatment system. The time is now to begin to prepare for this eventuality by establishing our own institutional infrastructure in place so that we can competently respond to the changes that are coming our way. PRIOR COMMITTEE/BOARD ACTIONS 1. Adoption of Urban Runoff Diversion Policy September 27, 2000 2. Policy amended March 28, 2001 to modify indemnity language BUDGET IMPACT This proposed change will be budgeted for FY 2005,..06. The additional annual cost for the first year is expected to be apprm<imately $15,000 from the reclassincation of 2 position(s) and a staff increase of O FTE. In the future, when additional sewer management and urban runoff management services are requested of the Sanitation District, new revenue from fees will pay for them. Staff predicts that new fees will be levied in the future to P<W for: these regional assets and services. How they are administered, who administers them, and how they are raised in the first place (i.e. a Proposition 218 election) have yet to be decided. H:ldeptlagenda\FAHRIFAHR2005\0305\05-19 Regional Assets.doc Revised: 06/04/03 Book Page 80 Page 2 ADDITIONAL INFORMATION The Sanitation District first became involved in accepting dry weather urban runoff diversions in September 1999. We voluntarily took this unprecedented action when it became clear, from scientific evidence, that the beach closures and postings occurring in Huntington Beach were the direct result of contaminated urban runoff reaching the shoreline through the Talbert Channel, the Santa Ana River, and other sources. The only timely and effective measure available to improve the situation was for the Sanitation District to allow cities like Huntington Beach to divert dry weather low flow contaminated urban runoff from storm channels and local stormwater pump stations into sanitary sewers that flow to us. The improvement was dramatic, instantaneous and lasting. In the future many more projects will be proposed to manage the continuing problem of contaminated dry weather urban runoff from reaching inland fresh water streams and coastal marine waters. These projects will have to be identified, prioritized, designed, constructed, operated, maintained and monitored. Who will be responsible has yet to be decided. Who will pay for it or raise the money to pay for it has yet to be decided. In any case, the Sanitation District will be placed in a position of helping manage the problem of contaminated dry weather urban runoff by accepting increasingly larger amounts of flow. The County Board of Supervisors is addressing the issue of institutional arrangements and decision making now. Over the next several months it is likely that they will propose a way for the County, the cities, and special districts to work together using existing staff and existing physical assets. We will share responsibilities and work together in an orderly manner. The Board of Supervisors is also considering the question of fees to pay for the capital and operating costs associated with a county-wide approach to managing dry weather urban runoff. There are several options that could be considered including a Proposition 218 election similar to what the Vector Control District successfully implemented last year. A group of managers from the County, cities and special districts (including the Sanitation District) are meeting to provide input to the Supervisors. This process and the recommendations that are emerging reinforce what our own Sanitation District ad hoc committee on urban runoff have been discussing during the last year. While the exact outcome of these deliberations by the County Board of Supervisors is yet to be known, one thing is clear: because of the regulatory pressures exerted by the Regional Water Quality Control and the rising expectation of the public and businesses to have reliably clean and swimmable beaches, there will be new arrangements in this County fairly soon. It is for this reason that the Sanitation District must be ready to respond to the arrangements as they become clear. The first step is to have a clear way to consider these changes and then bring them appropriately and efficiently into the organization H:ldept\agenda\FAHRIFAHR2005\0305105-19 Regional Assets.doc Revised: 06/04/03 Book Page 81 Page 3 ALTERNATIVES We could wait and see to what degree these regional changes in sewer maintenance and urban runoff management impact our programs and then react accordingly. CEQA FINDINGS Not applicable at this time. Future capital projects, if initiated by the Sanitation District, would trigger CEQA requirements at some time in the future. ATTACHMENTS N/A H:\dept\agenda\FAHRIFAHR200510305\05-19 Regional Assets.doc Revised: 06/04/03 Page4 Book Page 82 ORANGE COUNlY SANITATION DISTRICT (714) 962-2411 www.ocsd.com Mailing Address: P.O. Box 812 7 Fountain Valley, California 92728-8127 Street Address: 10844 Ellis Avenue Fountain Valley, California 92708-7018 3/9/2005 Ref ~ Revenues: 1 General User Fees 2 Permitted User Fees 3 Property Taxes (5% yr) 4 New COP Issues 5 Interest Revenues (4%) 6 Conneciioo Fees 7 Other Revenues 8 Revenues Requirements: 9 Oper & Mtce Exp (7.50% yr) 10 Capital Improvement P(cgratl) 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 18a Over (Under) Reserve Policy :;!~wet g;ervlce U~r Eees; 19 Avg SFR Annual User Fee 20 Percentage Change 20a SFR noticed 4-2003 20b PV of SFR Annual Fee @ 5% 21 Equivalent Dwelling Units 22 SFR Connection Fee 23 Outstand OJ, COP§ Average Dally Flow, mgd Resarye PoHcy 24 50% Next Year Operating 25 10% Next Year Operating 26 100% NextYeerAUGCOPSe 27 50% average GIP bal to 2020 28 Short term GIP, GWRS 29 DSR @ 10% Outstanding COP 30 SFI @ $57mm INPUT 31 Repl & Refurb @ 2%/yr 32 Total ~ 33 Sr Lien Coverge, Min 1.25 34 Additional Bonds, 1.25 Projecled 04~5 101,568,000 5,160,000 28,161,000 21,265,000 11,560,000 39,314,000 207 028000 109,106,000 205,176,000 41,917,000 1,676,000 358,077,000 (151,049.000 617,782,800 466,733,800 369,268188 97,467,613 S115.00 15.00% $126,00 683,200 $2,690 $621,325,000 250 57,797,00C 11,55.9,00C 48,586,00C 81.191,1Be 62,133,00C 57,000,00C 51 000,00( 369,266.181 2,34 2.34 Preliminary 05-06 117,005,000 5,541,000 29,569,000 200,000,000 17,783,000 11,560,000 30,976,000 412.434.000 115,594,000 272,937,000 48,5B6,000 1.876000 438,993,000 (26,559,000) 468 733,800 440, 174,80_0 403.365,033 38,809,767 $132.00 14.78% $151.00 $125.71 6B6.400 $2,890 $808,570,000 250 61,284,000 12,257,000 62,441,000 77,506,033 - 80,857,000 57,000,000 52,020,000 403,365,033 1.99 1.99 Preliminary Q§:QZ 136,109,000 5,982,000 51,746,000 225,000,000 17,499,000 11,560,000 30,076,000 477,972,000 122,566,000 276,992,000 62,441,000 1,876000 465,877.000 12,095,000 440,174,800 452 269,800 443,528,179 8,741,621 S153.00 15.91% $181.00 $138.76 889,600 $2,690 $1,017,095,000 250 65,463,000 13,093,000 80,124,000 73,078,179 101,710,000 57,000,000 53,000,000 443,528,179 2.09 2,09 Preliminary 07~8 156,240,000 6,412,000 54,333,000 315,000,000 18,636,000 11,560,000 33,776,000 595.957000 130,925,000 337,142,000 80,124,000 1,876,000 550,067,000 45,890,000 452,269,800 498,159.800 494,622,577 3,537,223 ms.co l 14.38% $217.00 $151.17 892,600 $2,890 $1,311,282,000 252 69,967,000 13,997,000 102,657,000 65,732,577 - 131,128,000 57,000,000 54,121 000 494.622 577 1 67 1 67 H:\depl\fin\210\STREED\Excel\05-06 Budget\2005-06 Preliminary Budget & Cash flow 2-22-05 xis Preliminary 08~9 180,096,000 6,888,000 57,050,000 380,000,000 20,541,000 11,560,000 30,276.000 666,411,000 139,973,000 390,649,000 102,657,000 1,676000 635, 155,000 51,256,000 498.159,800 549,411;-,eoo 547,932,250 1,483,550 $201.00 14.86% $165.36 896,000 $2,890 $1,664,606,000 254 75,133,000 15,027,000 124,175,000 54,933,250 166,461,000 57,000,000 55 203,000 547,932.250 1,62 1.62 Preliminary ~ 207,715,000 7,402,000 59,903,000 275,000,000 22,263,000 11,560,000 26,776.000 610,619,000 150,266,000 297,742,000 124,175,000 1,876,000 574,059,000 36,560,000 549,415,800 585,975.800 587 282,455 (1,306.8551 $231.00 14.93% $180.99 899,200 $2,890 $1,905,580,000 257 60,454,000 16,091,000 140,479,000 46,393,455 - 190,558,000 57,000,000 56,307,000 587 .282.455 1.49 1.49 Orange County Sanitation District Summary Cash Flow Projections For Discussion Only. Very Preliminary Preliminary 1Q:ll 240,038,000 7,963,000 62,898,000 225,000,000 23,830,000 11,560,000 24,376,000 595,665000 160,906,000 249,030,000 140,479,000 1,878,000 552,293,000 43,372,000 585,975.800 629.347 ,800 619,056,300 10.291,500 $266.00 15.15%. $198.49 902,400 $2,690 $2,090,564,000 259 B6,502,000 17,300,000 153,184,000 38,581,300 209,056,000 57,000,000 57,433,000 619,058,300 149 149 Preliminary 11-12 277,114,000 8,562,000 66,043,000 180,000,000 25,891,000 11,560,000 21,976,000 591,146,000 173,003,000 201,343,000 - 153,184,000 1,876.000 529,406,000 61,740,000 629,347,800 691,081800 642,835,389 48.252 411 $306.00 15.04% $217.47 905,600 $2,890 $2,225,483,000 262 92,759,000 18,552,000 161,712,000 31,682,389 - 222,548,000 57,000,000 58,582.000 6'12.835.389 1,55 1,55 Preliminary 12-13 319,898,000 9,206,000 69,345,000 80,000,000 27,107,000 11,560,000 19,176,000 536,292000 185,517,000 116,329,000 70,596,000 161,712,000 1,876000 536,030,000 262,000 891 ,<JB?,800 691 349,800 872,952125 1B,397 675 $352.00 15.03% $238.25 908,800 $2,890 $2,255,445,000 264 101,756,000 20,351,000 160,174,000 28,372,125 - 225,545,000 57,000,000 59,754.000 IIT2.952. 125 1.67 1.67 Preliminary .&M 369,360,000 9,899,000 72,812,000 65,000,000 27,153,000 11,560,000 35,176,000 690,960,000 203,512,000 122,264,000 81,012,000 180,174,000 1,876,000 568838,000 2,122,000 691,349.800 693,471,800 666,829,143 27,64.2,657 $405.00 15.06% $261.07 912.000 $2,890 $2,252,553,000 266 109,271,000 21,854,000 167,808,000 23,692,143 o 225,255,000 57,000,000 60,949,000 665,829,143 1.79 1.79 Preliminary J.HQ 411,840,000 10,449,000 76,453,000 - 26,908,000 11,560,000 18,976,000 658, 1B6,000 218,542,000 89,509,000 93,095,000 167,608,000 1,876.000 570,830,000 (14,644,000) 693,471,800 678,827,800 667,607.750 11.220 050 $450.00 11.11% $276.26 915,200 $2,890 $2,196,184,000 268 117,405,000 23,481,000 167,754,000 20,181,750 o 219,616,000 57,000,000 62,168,000 667,607,760 2.01 2.01 Preliminary 15-16 440,832,000 10,797,000 80,276,000 26,330,000 11,560,000 20,476.000 590.271,000 234,809,000 95,167,000 105,482,000 167,754,000 1,876,000 605,088.000 (14,817,000) 678.827,800 664,010.800 669,447,400 (5.456,6001 $480.00 6.67% $280,65 918,400 $2,890 $2,137,212,000 270 126,207,000 25,241,000 169,166,000 14,701,400 0 213,721,000 57,000,000 63.411,000 669,447.400 2.12 2.12 Preliminary 16-17 451,584,000 10,909,000 84,290,000 - 26,816,000 11,560,000 27,776,000 632,935,000 252,414,000 30,196,000 119,671,000 169,166,000 1,876,000 573,323.000 39,612,000 664.010.800 703,622,800 673,828.250 29,794,550 $490.00 2.08% $272.85 921,600 $2,690 $2,070,845,000 272 135,733,000 27,147,000 167,582,000 14,602,250 0 207,085,000 57,000,000 64,679 000 673,828,260 2.13 2.13 Preliminary 17-18 462,400,000 11,020,000 88,505,000 27,175,000 11,560,000 23,476,000 624,136,000 271,466,000 69,813,000 134,714,000 167,582,000 1,876,000 645,451,000 (21,315,000) 703,822,800 682,307,800 674.189.167 6,108,533 $500.00 2.04% $265_16 924,800 $2,890 $2,005,991,000 274 146,042,000 29,208,000 167,543,000 7,834,167 0 200,599,000 57,000,000 65,973,000 674,199,167 2.10 2.10 Preliminary &1J! 468,640,000 11,075,000 92,930,000 - 26,709,000 11,560,000 25.276.000 636,190,000 292,063,000 26,724,000 150,433,000 167,543,000 1 876,000 638659,000 (2,469,000) 682.307 ,600 679,838,800 667,636.250 12.202,550 $505.00 1_00% $255.06 928,000 $2,890 $1,938,149,000 276 157,197,000 31,439,000 155,823,000 5,070,250 o 193,615,000 57,000,000 67,292,000 667,636,250 2.05 2.05 Preliminary 19-20 474,912,000 11,130,000 97,577,000 - 26,398,000 11,560,000 25676,000 647,253.000 314,393,000 20,281,000 168,262,000 155,823,000 1,876,000 660,635,000 (13,382,000) 679,838 800 668,456,800 656,809,000 9,647,800 $510.00 0.99% $245.32 931,200 $2,890 $1,B67,115,000 276 157,197,000 31,439,000 155,823,000 o o 166,712,000 57,000,000 68,63!!,000 656,808,000 2.14 2.14 2:58PM Grand I2l!!! 4,815,351,000 138,395,000 1,071,891,000 1,945,000,000 382,304,000 184,960,000 433554.000 6,971,455,000 3,075,079,000 2,803,296,000 923,265,000 2,091,125,000 30,016,000 8,922,781,000 48,674,000 617.782.800 666,456,800 $5,271.00 $3,272.59 CORRECTED MINUTES OF FINANCE, ADMINISTRATION AND HUMAN RESOURCES COMMITTEE MEETING Orange County Sanitation District Wednesday, February 9, 2005, 5:00 p.m. A meeting of the Finance, Administration and Human Resources Committee of the Orange County Sanitation District was held on February 9, 2005, at 5:00 p.m., in the District's Administrative Office. (1) The roll was called and a quorum declared present, as follows: FAHR COMMITTEE MEMBERS: DIRECTORS PRESENT: Roy Moore, Chair Mike Duvall, Vice Chair Bill Dalton Rich Freschi Phil Luebben Darryl Miller Joy Neugebauer Steve Anderson, Board Chair Jim Ferryman, Vice Board Chair DIRECTORS ABSENT: James W. Silva STAFF PRESENT: Blake P. Anderson, General Manager Gary Streed, Director of Finance/Treasurer Carol Beekman, Director of Communications & Administrative Services Lisa Tomko, Director of Human Resources Mike White, Controller Penny Kyle, Committee Secretary OTHERS PRESENT: Brad Hagin, General Counsel Bob Geggie (2) APPOINTMENT OF CHAIR PRO TEM No appointment was necessary. (3) PUBLIC COMMENTS There were no public comments. (4) REPORT OF THE COMMITTEE CHAIR Committee Chair Moore welcomed the new Directors to the FAHR Committee. (5) REPORT OF THE GENERAL MANAGER Blake Anderson, General Manager, reminded the Directors of the Board Orientation scheduled for February 16th at 5:00 p.m. This would provide new and returning Directors with a general overview of the District's operations. The Directors were also reminded of the Orange County Leadership Symposium scheduled to be held March 4-5, 2005, in Lake Arrowhead. Directors were encouraged to participate in the event. Minutes of the Finance, Administration and Human Resources Committee Meeting Page2 February 9, 2005 (6) REPORT OF DIRECTOR OF FINANCE/TREASURER Gary Streed, Director of Finance, referred the Directors to two handouts distributed that evening pertaining to Agenda Item Nos. 10(b) and (c). Mr. Streed announced the Governmental Finance Officers Association granted the District its Distinguished Budget Presentation Award for the 2004/05 Budget. The District has received this award for the past eight years. (7) REPORT OF DIRECTOR OF HUMAN RESOURCES The Director of Human Resources had no report. (8) REPORT OF OIRECTOR OF COMMUNICATIONS & ADMINISTRATIVE SERVICES Carol Beekman, Director of Communications & Administrative Services, updated the Directors on the activities and accomplishments for the past quarter on the Communications and Administrative Services Strategic Plan for FY 2004/05 (Agenda Item No. 12(a)). The next update will be provided in April 2005. (9) REPORT OF GENERAL COUNSEL Brad Hogin, Assistant General Counsel, reported that in the interest of time staff would be submitting a request directly to the Board of Directors to consider entering into additional lease agreements in connection with property purchased for the Rocky Point Pump Station in Newport Beach. (10) CONSENT CALENDAR ITEMS a. Approve minutes of the December 8, 2004, Finance, Administration and Human Resources Committee meeting, as corrected. Director Freschi abstained. b. FAHR05-01 Recommend to the Board of Directors to receive and file Treasurer's Report for the month of January 2005. c. FAHR05-02 Receive and file Certificates of Participation (COP) Monthly Report. d. FAHR05-03 Receive and file Employment Status Report as of January 20, 2005. e. FAHR05-04 Receive and file OSHA Incidence Rates and Workers' Compensation Claims and Costs Report. f. FAHR05-05 Receive and file SWAP Report for quarter ending December 31, 2004. g. FAHR05-06 Recommend to the Board of Directors to receive and file Quarterly Investment Management Program Report for the period October 1, 2004 through December 31, 2004. Minutes of the Finance, Administration and Human Resources Committee Meeting Page 3 February 9, 2005 h. FAHR05-07 Recommend to the Board of Directors to receive and file the Mid-Year MOTION: Financial Report for the period ending December 31, 2004. It was moved, seconded and duly carried to approve the recommended actions for items specified as 10(a) through (h) under Consent Calendar. END OF CONSENT CALENDAR (11) ACTION ITEMS a. FAHR05-08 Recommend to the Board of Directors to approve the 2005/06 Budget MOTION: Assumptions, Fiscal Policy Statements, and Budget Calendar. Mike White, Controller, reviewed the FY 2005/06 Budget Assumptions for economic assumptions, revenue assumptions, operating assumptions, reserve assumptions, capital improvement program assumptions and debt financing assumptions. He also outlined the important dates leading to adoption of the FY 2005-06 budget at the June 22, 2005 Board meeting. In response to the Directors' questions on the budgeting process, Blake Anderson, General Manager, advised staff would provide as much detail the Committee felt was appropriate during the review of the budget before adoption. Staff is also available to discuss the budget process in more detail with the Directors individually. It was moved, seconded and duly carried to recommend approval to the Board of Directors. b. FAHR05-09 Authorize the General Manager to renew the consultant agreement with MOTION: Public Resources Advisory Group as the District's Financial Advisor for an additional two-year period beginning with fiscal year 2004-05. Mike White, Controller, gave a brief overview on services provided since 2001 by Public Resources Advisory Group. They are willing to provide assistance for a new debt issuance at no increase in price of $75,000 for fixed rate debt issuance and $100,000 for variable rate debt issuance. It was moved, seconded and duly carried to recommend approval to the Board of Directors. c. FAHR05-10 Consideration of pending 2005 Legislative Proposals: 1. Assembly Constitution Amendment No. 1 2. Assembly Constitution Amendment No. 7 3. Senate Bill No._ (no number assigned at this time) 4. California Deficit Prevention Act Brad Hagin, Assistant General Counsel, reported this item was coming Minutes of the Finance, Administration and Human Resources Committee Meeting Page4 February 9, 2005 MOTION: before the Committee and the Board of Directors to consider taking a position of support or opposition to each measure. The Board's positions would then be transmitted to CASA. The first measure discussed Public Employee Pension Plans (Assembly Constitutional Amendment No. 1 ). This proposal would provide that after July 1, 2007, new employees would have to enroll only in a defined contribution plan of a public pension or retirement system. Directors felt a decision on this issue was premature until more information is provided. The second measure discussed was Assembly Constitutional Amendment No. 7. This amendment would change the present two-thirds voter approval requirement for special taxes to instead authorize a special district to impose a special tax with the approval of 55% of its voters voting on the tax. Special districts have no authority or power to adopt general taxes, but only special taxes, which mean that revenues received must be used for specified purposes within the limited powers of a special district. The Sanitation District has never adopted a special tax. After much discussion, the Directors agreed that this amendment, along with the others included in the report, should be first reviewed and considered by the District's legislative committee and lobbyists before the Board takes a position. It was moved, seconded and duly carried to have the District's legislative committee review this item and provide the Steering Committee with their recommendation. (12) INFORMATION PRESENTATIONS a. FAHR05-11 Communications and Administrative Services Strategic Plan FY 2004-05/Quarterly Update This report was provided under the Director of Communications and Administrative Services Report (Item 8). (13) CLOSED SESSION There was no closed session. (14) OTHER BUSINESS, COMMUNICATIONS OR SUPPLEMENTAL AGENDA ITEMS, IF ANY Upon request for a future report regarding the undercharges for parcels not being noted in the database used for collection of user charges, Gary Streed reported that the review being done in- house has been successful. Temporary staff has been successfully utilized for this project. Out of over 46,000 non-residential parcels, 60% have been inspected resulting in 311 changes. Out of those parcels the District will receive an additional $835,000 in user fees. WHEREAS, the foregoing findings indicate that a FOG Control Program is required for Food Service Establishments within the District's jurisdiction to comply with waste discharge regulations and prevent the harmful effects of SSOs; and WHEREAS, on November 17, 2004, the Board of Directors adopted Ordinance No. OCSD-25 adopting FOG control regulations applicable to Food Service Establishments; and WHEREAS, Ordinance No. OCSD-25 requires Food Service Establishments subject to the regulations to obtain a FOG Wastewater Discharge Permit, and to pay an application fee in the amount set by resolution of the Board; and WHEREAS, Food Service Establishments who are found to be in noncompliance with the terms and conditions of their FOG Wastewater Discharge Permit, Ordinance No. OCSD-25 or other relevant regulations are required to pay a general noncompliance fee, which includes the District's costs of additional monitoring activities and administrative processing incurred resulting from the noncompliance. NOW, THEREFORE, the Board of Directors of the Orange County Sanitation District DOES HEREBY RESOLVE, DETERMINE, AND ORDER: Section 1: Annual Permit Fee. The fee for each FOG Wastewater Discharge Permit issued pursuant to Ordinance No. OCSD-25 or its successors, is $100 per year. For example, a permit for a two-year term is subject to a $200 fee. Section 2: General Noncompliance Fee. The general noncompliance fee is $100.00 per day event for the District follow-up activities due to permit, ordinance or regulatory noncompliance. PASSED AND ADOPTED at a regular meeting held ____ , 2005. Chair ATTEST: Board Secretary WS&S -OXS:pj: 197983:02/07 /05 2 FAHR COMMITTEE AGENDA REPORT Orange County Sanitation District FROM: Gary Streed, Director of Finance/Treasurer Originator: Michael White, Controller Meeting Date 3/09/05 Item Number FAHR05-12 SUBJECT: TREASURER'S REPORT FOR THE MONTH OF FEBRUARY 2005 GENERAL MANAGER'S RECOMMENDATION Receive and file Treasurer's Report for the month of February 2005. SUMMARY To Bd. of Dir. 3/23/05 Item Number 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 one investment policy compliance exception. It pertains to the holding of one security within PIMCO's Long-Term Operating Monies Portfolio that had an acceptable rating at the time of purchase but has since fallen below the minimum rating allowed by the investment policy. The District's investment policy requires a minimum rating of A3 by Moody's or A-by S&P, with at least a BBB rating in the event of a split rating, at the time of purchase. The rating exception pertains to the holding of a United Airlines (UAL) Asset Backed Security with a par value of $1.6 million, representing 0.44 percent of the portfolio holdings, whose rating from Moody's has fallen several times, from A3 to BA 1, then to BA3, 83, B, and finally to CA. Likewise, the rating from Standard & Poor's has also fallen several times, first from A-to BBB, then to BB, then to B+, 8-, and finally to CCC+. Both rating agencies have since withdrawn their ratings, Moody's in February 2004 and Standard & Poor's in June 2004. 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 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 this security very closely. H:ldepllfin\220\geggie\FAHRITREASRPT030905.doc Page 1 Historica·1 cost and current market values are shown as estimated oy both PIMCO and Mellon Trust. Tne· District1s portfolios are priced to market C'mark-to-market") as of the last day 0f each report.ing period. The slight differences in value are r.elated to minor variations in pricing assumptions by the valuation sources at the estimate date. BUDGET IMPACT D This item has been budgeted. (Line item: ) D This item has been budgeted, but there are insufficient funds. D This item has not been budgeted. 1ZJ Not applicable (information item) 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 withir:1 the State of California Local Agency Investment Fund (LAIF). These reports accurately reflect all District investments and are in compliance with the District's Investment Policy and previous requirements of California Government Code Section 53646. Government Code Section 53646 mandated that annual investment policies and quarterly reports be rendered to the legislative body. AB2853, which was signed on September 29, 2004, amends Government Code Section 53646 to remove the requirements; the rendering of these documents is optional. Although the Annual Investment Policy and Monthly and/or Quarterly Reports are no longer required, we believe it prudent to continue providing the legislative bodies with these documents. In addition, Government Code Section 53607 has not been repealed that requires an annual delegation of investment authority to the Treasurer and the submission of reports that include investment transactions by month. 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:ldepllfinl220\geggie\FAHRITREASRPT030905.doc Page2 Book Balances Estimated Investment Accounts February 28, 2005 Yield(%) State of Calif. LAIF $5,115,638 2.37 Union Bank Checking Account 1,444,133 2.19(1) PIMCO -Short-term Portfolio 73,098,332 2.74 PIMCO -Long-term Portfolio 365,216,071 3.71 Petty Cash 4000 N/A TOTAL $444 8Z8 :IZ4 3.54 Debt Service Reserves w/Trustees $62 696 Z2:I 3.59 (1) This is the annualized yield for the month of January. The February annualized rate was not available as of the date of this report. ALTERNATIVES N/A CEQA FINDINGS N/A 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:bg H:ldepl\fin\220\geggie\FAHR\TREASRPT030905.doc Page 3 Orange County Sanitation District Investment Transactions and Balances in the State of California Local Agency Investment Fund February 28, 2005 Par Value Book Value Market Value Rate Yield Balance February 1, 2005 $21,215,638 $21,215,638 $21,215,638 2.37 2.37 Deposits: Total Deposits 0 0 0 2.37 2.37 Withdrawals: 2/2/2005 (2,900,000) (2,900,000) (2,900,000) 2.37 2.37 2/10/2005 (4,400,000) (4,400,000) (4,400,000) 2.37 2.37 2/15/2005 (2,200,000) (2,200,000) (2,200,000) 2.37 2.37 2/16/2005 (2,300,000) (2,300,000) (2,300,000) 2.37 2.37 2/23/2005 (4,300,000) (4,300,000) (4,300,000} 2.37 2.37 Total Withdrawels (16,100,000) (16,100,000) (16,100,000) 2.37 2.37 Balance February 28, 2005 $5,115,638 $5,115,638 $5,115,638 2.37 2.37 PIM C 0 March 8, 2005 Mr. Mike White, CPA Controller Orange County Sanitation District 10844 Ellis A venue Fountain Valley, CA 92708-7018 Dear Mike: The following is a description of events in the bond markets during the month of February in addition to an analysis of the strategies undertaken in the Orange County Sanitation District's Long-Term and Liquid 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: The Federal Reserve raised the Fed Funds rate to 2.5 percent and restated its plan to tighten at a measured pace. The 25 basis points increase represents the sixth rate hike since June 2004. U.S. Treasury yields rose in February on signs of accelerating economic growth and higher inflation. The yield on the benchmark 10-year Treasury note finished the month at 4.38 percent, 25 basis points higher than the prior month; as Treasuries returned -0.82 percent. TIPS outperformed their nominal counterparts, with the Lehman Brothers U.S. TIPS Index returning -0.43 percent for the month. Mortgage-backed securities returned -0.46 percent, or 13 basis points less than Treasuries after adjusting for duration. The credit sector, represented by the Lehman Credit Index, returned -0.59 percent, outperforming Treasuries for the month by 28 basis points. February began with a weak employment report, indicating that the economy created only 146,000 new jobs in January, lower than the consensus estimate of 200,000. However, the unemployment rate edged lower at 5.2 percent due to a lower labor participation rate. On the inflation front, the Consumer Price Index rose 0.1 % in January and was held back by the second straight monthly decline in energy prices. Excluding food and energy items, core inflation rose 0.2 percent and has increased 2.3 percent over the last year. Lastly, the Bureau of Economic Analysis revised fourth quarter GDP growth up to 3.8 percent from 3.1 percent. Exports were revised sharply higher, and there were notable upward revisions to business investment. Mr. Mike White, CPA Orange County Sanitation District Treasury yield changes during the month of February are summarized as follows: • 3-month bills: +29 basis points to 2.75% • 6-month bills: +25 basis points to 2.97% • 2-year notes: +32 basis points to 3.60% • 5-year notes: + 32 basis points to 4.01 % • IO-year notes: +25 basis points to 4.38% • 30-year notes: + 13 basis points to 4. 72% Performance Attrib11tio11: Long-Term Portfolio March 8, 2005 Page2 The Long-Term portfolio that PIMCO manages on behalf of Orange County Sanitation District returned -0.25% on a total return basis for the month of February, outperforming the Merrill Lynch 1-5 year Government Corporate Index by 14 basis points. The following points summarize returns for the month ended February 28: • The Long-Term portfolio outperformed the benchmark by 14 basis points for the month. • For the twelve-month period, the Long-Term portfolio returned 0.96%, outperforming the benchmark by 74 basis points. • Portfolio duration, below the index, was positive for monthly performance as interest rates increased across the yield curve. • Yield curve positioning similar to that of the index was neutral for performance. • An underweight exposure to corporates was negative for performance, as corporates outperformed Treasuries on a duration-adjusted basis. • Exposure to mortgage-backed securities was neutral for relative performance; the sector underperformed Treasuries on a duration-adjusted basis, but positive security selection mitigated this impact. • Substituting Treasury Inflation Protected Securities for nominal Treasuries was positive for performance as TIPS outperformed their nominal counterparts during the month. Liquid Portfolio The Liquid portfolio that PIMCO manages on behalf of Orange County Sanitation District generated a total return of 0.19% during the month of February, performing in line with the 3- month Treasury Bill Index. The following points summarize returns for the period ending February 28: • The Liquid portfolio performed in line with the benchmark for the month. • For the twelve-month period, the Liquid portfolio returned 1.53%, outperforming the benchmark by 8 basis points. • Use of higher yielding securities such as commercial paper and short-term notes contributed to performance. Mr. Mike White, CPA March 8, 2005 Page3 Orange County Sanitation District Outlook and Strategy: Global growth will slow over the next year as the U.S. recovery cools and Europe and Japan prove unable to pick up the slack. Higher unit labor costs and a weaker dollar will create some inflationary pressure, but lingering overcapacity worldwide will limit this effect over a cyclical time frame. The yield on the benchmark 10-year Treasury will range between 4 and 4.5 percent, with the main risk to this forecast being a breakout of 25 basis points on the high side. Important aspects of our outlook are: • • • • Headwinds to U.S. Growth -Slack in the U.S. economy is closing but growth will be constrained by: 1) removal of accommodative monetary and fiscal policy, as the Federal Reserve tightens and fiscal stimulus fades; 2) a moderating housing cycle; 3) relatively modest corporate investment; and 4) a lack of pent-up consumer demand combined with a heavy consumer debt burden. Vendor Financing for U.S. Consumption -With its low savings rate, the U.S. must rely on foreign lenders, mainly Asian central banks, to finance its prodigious consumption and the trade deficit that accompanies it. PIMCO is skeptical that China and Japan will continue to provide this "vendor financing" on agreeable terms over the long run. In the short run, however, the game will go on, since it keeps interest rates low for U.S. borrowers and mitigates appreciation of the Chinese and Japanese currencies vs. the dollar, which would hurt export-led growth in those countries. Europe and Japan to Lag -Europe will not add much to global growth. The European Central Bank has been reluctant to cut rates to stimulate domestic demand; exports are vulnerable to a strong euro; and business and consumer confidence remain weak. Japan's contribution to growth will also lag that of the U.S. Japan's export-led recovery will be constrained as China moves to cool down its economy to curtail inflation. Emerging Markets Add Stability -After painful currency and financial crises in the late 1990s, many EM economies opted for reform and restructuring. The results have been impressive: an increasing share of global GDP, accumulation of record currency reserves and growing trade surpluses. The global economy looks stable, with prospects for modest growth, low volatility in financial markets and range-bound interest rates. PIMCO remains concerned, however, about a tilt in the direction of either deflation or inflation. The uncertain pace of investment and hiring could tilt the balance of risks toward deflation. On the other hand, monetary policy remains simulative despite the beginning of Fed tightening. Easy money combined with higher commodity prices and dollar weakness could swing the economy back in the other direction. A prudent approach in this environment is to stay defensive and well diversified to avoid negative consequences of being on the wrong side of any market dislocation. Key strategies will include: • Tactically Flexible Interest Rate Strategies -Rates are more likely to rise than fall over a secular, or three to five year time frame. We will therefore be wary of extending duration beyond benchmark levels. At the low end of our forecasted interest rate range, we will target duration about 0.5 year below the index and then shift toward a neutral posture as rates move back up. • Structural Yield Curve Exposure -While short/intermediate maturities are close to full valuation, we will retain a modest structural emphasis here. Because the short/intermediate portion of the yield curve remains relatively steep, this "bulleted" posture can provide extra yield with less price Mr. Mike White, CPA Orange County Sanitation District March 8, 2005 Page4 risk than a "barbell," or mix of short and long term bonds. In addition, longer maturities would be more vulnerable if the economy tilted toward inflation. • Retain Current Exposure to Core U.S. Sectors but Do Not Increase Allocations -Tight corporate yield premiums offer too little reward to bear the risk of negative credit events if the economy were to slow. While mortgage-backed bonds offer structural yield advantage and high credit quality, they are fully valued for now as a result of unusually heavy demand from banks, which are taking advantage of mortgages' attractive "carry" in a steep yield curve environment. • TIPS as an Out-of-Index Alternative -Better risk/reward trade-offs can be found outside of core sectors. At current break-even inflation levels, real return bonds continue to provide an effective hedge against secular inflation risk. They are also less volatile than nominal bonds in a rising rate environment. 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, CFA Senior Vice President Orange County Sanitation District for the month ending February 28, 2005 Total Return Account -203 With Accrued Interest Market Value Book Value Yield to Maturity Short Term Account -603 367,087,014 367,059,399 3.71 With Accrued Interest Market Value Book Value Yield to Maturity 73,370,413 73,390,848 2.74 Without Accrued Interest 365,283,802 365,256,187 3.73 Without Accrued Interest 73,175,423 73,195,858 2.74 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 28 February 2005) 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 l¾INTERESTRATECHANGE Dollar Impact (gain/loss) of 1% Chami:e: 15.1.4 REVERSE REPOS % of Portfolio in Reverse Repos: ( see attached schedule) 15.1.5 PORTFOLIO MATURITY % of Portfolio Maturing within 90 davs: 15.1.6 PORTFOLIO QUALITY Average Portfolio Credit Qualitv: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Comnliance" 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 outperformed the benchmark by J basis point for the month, and by 6 basis points fiscal year-to-date. • PIMCO's emphasis on higher yielding securities such as commercial paper and short-term notes contributed to performance. H:ldeptlfm\220\geggle\FAHRILIQ0800-0S-02.RPT.doc Page 1 of 1 $73,370,413 $73 ,375,096 $73,390,848 $73,451,594 0.11 0.20 $80,707 0% 89% ''AAA'' 0% Yes Portfolio Index 0.19 0.18 0.57 0.52 1.53 1.45 1.18 1.12 MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 28 February 2005) 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: Oflndex: 15.1.3 1%INTERESTRATECHANGE 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 Average Portfolio Credit Quality: 15.1.7 SECURITIES BELOW "A" RATING % of Portfolio Below "A": 15.1.8 INVESTMENT POLICY COMPLIANCE "In Comnliance" 15.1.9 PORTFOLIO PERFORMANCE Total Rate of Return(%) by Period: 1 Month: 3 Months: 12 Months: Fiscal Year-to-Date: • The Long-Term portfolio outperformed the benchmark by 14 basis points for the month, and outperformed the benchmark by 23 basis points fiscal year-to-date. Portfolio duration, below the index, was positive for monthly performance as interest rates increased across the yield curve. • Yield curve positioning similar to that of the index was neutral for performance. • An underweight exposure to co'l'orates was negative for performance, as co'l'orates outperformed Treasuries on a duration-adjusted basis. Page 1 of 2 $367,087,014 $367,064,873 $367,059,399 $369,198,464 1.94 2.45 $7,121,488 0% 5% AAA 0% No* Portfolio Index -0.25 -0.39 0.08 -0.05 0.96 0.22 l.64 l.41 • Exposure to mortgage-backed securities was neutral for relative performance as the sector unde'l'erformed Treasuries on a duration-adjusted basis, but positive security selection mitigated this impact. • Substituting Treasury Inflation Protected Securities for nominal Treasuries was positive for performance as TIPS ou.tperformcd their nominal counte'l'arts during the month. *Compliance Issues: MONTHLY REPORT ORANGE COUNTY SANITATION DISTRICT INVESTMENT MANAGEMENT PROGRAM PIMCO'S PERFORMANCE MONITORING & REPORTING (for the month ended 28 February 2005) Page2 o/2 $1,600,000 par of United Airlines (UAL) Pass-Through 2001-1-C (Enhanced Equipment Trust Certificate (EETC) -9093 l 7BC2), 6.831 % coupon. 3/01/2010 maturity, representing 0.44% of the portfoJjo holdings on a par basis was purchased on 8/10/2001; and subsequently downgraded by Moody's from A3 to BAl (on 9/18/2001) and S&P from A-to BBB (on 9/20/2001). The security was further downgraded by Moody's from BAI to BA3 (on ll/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 (83 Moody's, B+ by S&P). On November 29, 2002, S&J> 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 Moo-dy's followed suit on August 28, 2003 with a downgrade to CA. Both rating agencies have since withdrawn tbe.ir ratings (Moody's withdrew in February 2004 and S & P withdrew in June 2004). The District's investment policy requires a minimum rating of A3 by Moody's or A-by S&P, w.ith at least a BBB rating in the event of a split. On February 25, UAL reported an operating loss of $151 million for the month of January. The airline also said its debtor-in-possession lenders are not requiring it to meet a specific covenant for January. It received an extension of the maturity date of its DIP loan from June 30 through Sept. 30, a reduction in the interest rates UAL must pay under the loan, and a potential reduction in the minimum cash balance requirement from $750 million to $600 million if UAL meets certain financial goals. "While we made progress in our restructuring during the month by getting in place a portion of the long-term cost savings we need, we still have work to do, including further lowering our costs, concluding our labor negotiations, and the difficult but necessary work ofresolving our pension issues," said Jake Brace, chief financial officer, in a statement. UAL said it needs to cut union and nonunion labor costs by $725 million a year beyond the $2.56 billion in concessions it won from unions earlier in the bankruptcy process. PIMCO continues to negotiate w.ith United on our holdings and currently leads an ad hoc committee. This has been an extremely complicated effort due to the complex nature of United's bankruptcy. These negotiations have required PIMCO's analysts access to non-public infonnation and therefore sharing them results in parties becoming restricted. In light of this extremely complicated bankruptcy, PIM CO continues to strive to act in the most prudent manner to obtain maximum recovery. Split Rated Securities Still In Cony,J.iaoce: 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 ofa split rating. • $1,000,000 par ofFord Motor Credit securities ( cusip 345397GV9 maturing 5/15/05), representing 0.27% of the portfolio holdings on a par basis ( exposure was reduced in July 2004 as $2.5 million par matured). 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 l 1/13/03. Moody's downgraded the securities on 1/16/02 from A2 to A3. • $ l, 750,000 par of Virginia Electric Power NT securities ( cusip 927804EN0), maturing on March 31, 2006, represents 0.48% 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:\deptlfin\220\geggie\F AHR\L-T0B00-05-02.RPT.doc @ Mellon LIQUID OPER-PIMCO -OCSF0751 l 102 Description CASH & CASH EQUIVALENTS U.S. DOLLAR PENDING TRADES INTEREST CERTIFICATES OF DEPOSIT -DOMESTIC FED HM LOAN BNK -LESS THAN 1 YR FEDERAL HOME LOAN MORTGAGE -LESS THAN 1 YR FNMA ISSUES -LESS THAN 1 YR MUTUAL FUNDS OTHER U.S. GOVT OBLIGATIONS REPURCHASE AGREEMENTS TREASURY BILLS -LESS THAN 1 YR U.S. DOLLAR CASH & CASH EQUIVALENTS FIXED INCOME SECURITIES U.S. DOLLAR BANKING & FINANCE TOTAL ASSETS -BASE: 3/8/2005 9:09:12AM PST Asset Summary by Asset Type with Sectors 2/28/2005 Shares Par 4,300,000.000 8,000,000.000 12,087,000.000 14,500,000.000 1,505,230.090 2,000,000.000 13,000,000.000 12,300,000.000 67,692,230.090 67,692,230.090 7,300,000.000 74,992,230.090 1 Cost Base -1,575,767.57 276,764.03 4,300,000.00 7,959,136.33 12,005,027.85 14,405,510.84 1,505,230.09 1,986,748.89 13,000,000.00 12,167,397.09 66,030,047.55 66,030,047.55 7,421,546.50 73,451,594.05 Report ID: GL825 l Base Currency: USD Alternate Base Currency: Market Value Base -1,575,767.57 276,764.03 4,300,000.00 7,959,136.33 12,005,027.85 14,405,510.84 1,505,230.09 1,986,748.89 13,000,000.00 12,181,752.09 66,044,402.55 66,044,402.55 7,330,693.00 73,375,095.55 Exchange Rate: Status: FINAL_ %of Total -2.15% 0.38% 5.86% 10.85% 16.36% 19.63% 2.05% 2.71% 17.72% 16.60% 90.01% 90.01% 9.99% 100.00% Net Unrealized Gain/Loss Base 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0 .00 14,355.00 14,355.00 14,355.00 -90,853.50 -76,498.50 Workbench @ Asset Summary Report ID: GL825 l Base Currency: USD Mellon by Asset Type with Sectors Alternate Base Currency: Exchange Rate: LONG TERM OPER-PIMCO -OCSF07522202 2,2s,2oos Status: FINAL Net UJU"ealiz.ed Cost ., Market Value %of Gain/Loss Description ... ' 1,r, Shares Par Base · Base Total Base ~ CASH & CASH EQUIVALENTS U.S. DOLLAR PENDING TRADES -4,053,014.67 -4,053,014.67 -1.10% 0.00 INTEREST 1,848,801.89 1,848,801.89 0.50% 0.00 CERTIFICATES OF DEPOSIT -DOMESTIC 10,000,000.000 9,995,500.00 9,995,500.00 2.72% 0.00 MUTUAL FUNDS 1,870,831.230 1,870,831.23 1,870,831.23 0 .51% 0.00 TREASURY BILLS -LESS THAN 1 YR 1,200,000.000 1,184,617.83 1,184,617.83 0.32% 0.00 U.S. DOLLAR 13,070,831.230 10,846,736.28 10,846,736.28 2.95% 0.00 CASH & CASH EQUIVALENTS 13,070,831.230 10,846,736.28 10,846,736.28 2.95% o.oo FIXED INCOME SECURITIES U.S. DOLLAR ABS -AIRPLANE RECEIVABLES 1,600,000.000 1,600,000.00 136,528.00 0.04% -1,463,472.00 ABS -HOME EQUITY 572,962.330 572,962.33 573,329.03 0.16% 366.70 BANKING & FINANCE 19,500,000.000 19,431,817.50 19,466,860.00 5.30% 35,042.50 COLLATERALIZED MORTGAGE OBLIGATION COMM/< 1,782,321.970 1,782,321.97 1,882,310.23 0.51% 99,988.26 FHLMC MULTICLASS 785,482.190 786,318.98 781,955.37 0.21% -4,363.61 FHLMC POOLS 53,694.570 52,385.76 55,529.85 0.02% 3,144.09 FNMA POOLS 51,368,434.520 52,191,640.42 51,797,813.00 14.11% -393,827.42 GNMA MULTI FAMILY POOLS 3,384,405.220 3,373,218.04 3,388,608.65 0.92% 15,390.61 GNMA SINGLE FAMILY POOLS 550,070.580 576,726.15 578,277.73 0.16% 1,551.58 INFLATION INDEXED SECURITIES 35,438,920.000 35,455,769.00 38,226,806.18 10.41% 2,771,037.18 INSURANCE 1,600,000.000 1,594,032.00 1,612,496.00 0.44% 18,464.00 PVT PLACEMENTS -MORE THN 1 YR 752,000.000 826,199.84 826,199.84 0.23% 0.00 U.S. AGENCIES 24,854,955.810 24,929,162.72 25,097,149.08 6.84% 167,986.36 U.S. GOVERNMENTS 211,085,923.500 213,435,333.03 210,007,645.94 57.21% -3,427,687.09 UTILITY -ELECTRIC 1,750,000.000 1,743,840.00 1,786,627.50 0.49% 42,787.50 U.S. DOLLAR 355,079,170.690 358,351,727.74 356,218,136.40 97.05% -2,133,591.34 FIXED INCOME SECURITIES 355,079,170.690 358,351,727.74 356,218,136.40 97.05% -2,133,591.34 TOT AL ASSETS -BASE: 368,150,001.920 369,198,464.02 367,064,872.68 100.00% -2,133,591.34 3/8/2005 9:ll:47AM PST 1 Workbench YLDANAL YIELD ANALYSIS PAGE 1 OCSF07511102 2005/02/28 RUN DATE 03/04/05 DISTRICT: LIQUID OPERATING RUN TIME 09.43.20 = ---= = 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 1,600,000.00 BANK OF AMERICAN NA INSTL C/D .000 2.260 100.000 1,600,000.00 2.49 06050GGS3 2.260% 03/09/2005 DD 11/16/04 1,600,000.00 2.14 2,000,000.00 FEDERAL HOME LN BK CONS DISC .000 .ooo P-1 99.809 1,996,173.33 3.11 313385CQ7 MAT 03/04/2005 A-1+ 1,996,173.33 2,67 3,000,000.00 FEDERAL HOME LN BK CONS DISC .000 .000 P-1 99.414 2,982,406.67 4.65 313385CV6 MAT 03/09/2005 A-1+ 2,982,406.67 3.99 3,000,000.00 FEDERAL HOME LN BK CONS SYSTEM .000 .ooo P-1 99.352 2,980,556.33 4.65 313385EW2 MAT 04/27/2005 A-1+ 2,980,556.33 3.99 6,000,000.00 FEDERAL HOME LN MTG CORP DISC .000 .ooo P-1 99,402 5,964,142.50 9,30 313397DB4 MAT 03/15/2005 A-1+ 5,964,142.50 7.99 2,500,000.00 FEDERAL HOME LN MTG CORP DISC .ooo .000 P-1 99.120 2,478,000.00 3.86 313397DY4 MAT 04/05/2005 A-1+ 2,478,000.00 3.32 2,000,000.00 FEDERAL HOME LN MTG CORP DISC .000 .ooo P-1 99,356 1,987,117.78 3.10 313397FK2 MAT 05/10/2005 A-1+ 1,987,117.78 2.66 2,000,000.00 FEDERAL HOME LN MTG CORP DISC .ooo .ooo P-1 99.337 1,986,748.89 3.10 313397FS5 MAT 02/17/2005 A-1+ 1,986,748.89 2,66 1,587,000.00 FEDERAL HOME LN MTG CORP DISC .ooo .ooo P-1 99,292 1,575,767.57 2.45 313397GGO MAT 05/31/2005 A-1+ 1,575,767.57 2.11 10,100,000.00 FEDERAL NATL MTG ASSN DISC NTS .ooo .ooo P-1 99.350 10,630,444.17 16,59 313589EW9 MAT 004/27/2005 A-1+ 10,630,444.17 14.24 3,800,000.00 FEDERAL NATL MTG ASSN DISCOUNT .000 .000 P-1 99.344 3,775,066.67 5 .89 313589FL2 MAT 05/11/2005 A-1+ 3,775,066.67 5 .06 1,400,000.00 HSBC BANK USA INSTL C/D .ooo 2,335 100.000 1,400,000.00 2,18 40428AGZ4 2,335% 03/23/2005 DD 11/23/04 1,400,000.00 1.87 9,000,000.00 US TREASURY BILL .000 .ooo P-1 98.959 8,906,337.09 13.90 912795SL6 DUE 04/28/2005 DD 10/28/04 A-1+ 8,906,337,09 11.93 1,300,000.00 WELLS FARGO BANK NA INSTL C/D .000 2.520 100.000 1,300,000.00 2.02 9497P1U80 2.520% 03/18/2005 DD 02/18/05 1,300,000.00 1.74 • YLDANAL YIELD ANALYSIS PAGE 2 OCSF07511102 2005/02/28 RUN DATE 03/04/05 DISTRICT: LIQUID OPERATING RUN TIME 09.43.20 ----- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ------------------------------------------------------------------------------------------------------- 13,000,000.00 LEHMAN CAT 2 REPO .ooo 2.550 100.000 13,000,000.00 20,29 99432C236 02,550% 03/01/2005 DD 02/28/05 13,000,000.00 17,41 1,505,230.09 DREYFUS TREASURY CASH MGMT .ooo 2,223 AAA 100.000 1,505,230.09 2,34 996085247 AAA 1,505,230.09 2.02 .oo BSDT-LATE MONEY DEPOSIT ACCT .000 .000 .ooo .oo .oo 996087094 .oo .oo ----------------~------------------------- TOTAL CASH & CASH EQUIVALENTS .000 .385 64,067,991.09 100.00 64,067,991.09 85.80 FIXED INCOME SECURITIES 3,000,000.00 ASSOCIATES CORP NORTH AMER SR .000 6.562 AAl 100.953 3,112,350.00 28.55 046003FF1 6.625% 06/15/2005 DD 06/09/95 AA-3,028,590.00 4,06 1,500,000.00 BANK AMER NA TRANCHE #TR00255 .ooo 2.550 MIGl 99.984 1,500,000.00 14, 14 06050VLQB VAR RT 08/08/2005 DD 02/07/05 1,499,760.00 2.01 150,000.00 BANKAMERICA CORP MTN SR 00150 .ooo 7.070 AA2 100.781 153,652.50 1.42 06605LGFO 7,125% 05/12/2005 DD 05/12/95 AA-151,171.50 .20 2,500,000.00 GENERAL ELEC CAP MTN #TR 00526 .000 2.615 AAA 100.000 2,502,460.00 23.57 36962GXX7 VAR RT 03/15/2005 DD 03/20/02 AAA 2,500,000.00 3.35 150,000.00 NORWEST FINL INC NT ,000 7,541 AAl 100,781 153,084.00 1.42 669383DX6 7,600% 05/03/2005 DD 05/03/00 AA-151,171.50 .20 3,J00,000,00 US TREASURY BILL .ooo .ooo AAA 99,255 3,261,060.00 30.88 912795SS1 0.000% 06/09/2005 DD 12/09/04 AAA 3,275,415.00 4,39 ----------------------------------------- TOTAL FIXED INCOME SECURITIES .000 4,405 10,682,606.50 100.00 10,606,108.00 14,21 ----------------------------------------- TOTAL .000 .654 74,750,597.59 100.00 74,674,099.09 100.00 --..---=====-=---= ==:==-=== YLDANAL YIELD ANALYSIS PAGE 3 OCSF07522202 2005/02/28 RUN DATE 03/04/05 DISTRICT: LONG-TERM OPERATING RUN TIME 09,43,20 --- 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 .oo GENERAL ELEC CAP DISC .000 .ooo P-1 .000 .oo .oo 36959HP43 02/04/2005 .oo .oo 10,000,000.00 UBS AG STAMFORD BRR INSTL C/D .000 2,471 99,955 9,995,500.00 76,58 90261GE47 VAR RT 07/05/2005 DD 07/02/04 9,995,500.00 2, 71 1,200,000.00 US TREASURY BILL .000 .000 P-1 98.718 1,184,617.83 9.07 912795VH1 DUE 07/21/2005 DD 01/20/2005 A-1+ 1,184,617.83 ,32 1,870,831.23 DREYFUS TREASURY CASH MGMT .000 2,223 AAA 100.000 1,870,831.23 14,33 996085247 AAA 1,870,831.23 .51 .oo BSDT-LATE MONEY DEPOSIT ACCT .ooo .ooo ,000 .oo .oo 996087094 .oo .oo ------------------------------- TOTAL CASH & CASH EQUIVALENTS .000 2,266 13,050,949.06 100.00 13,050,949.06 3.54 FIXED INCOME SECURITIES 752,000.00 AIG SUNAMERICA GLOBAL REGS .000 5,325 109.867 826,199.84 ,23 U00907AA0 5,850% 08/01/2008 DD 08/08/01 826,199,84 ,22 4,000,000.00 COMMIT TO PUR FNMA SF MTG .ooo 5,456 AAA 100,810 4,072,578.12 1. 13 01F052631 5,500% 03/01/2035 DD 03/01/05 AAA 4,032,400.00 1.09 1,soo,000.00 CIT GROUP INC NEW SR NT .ooo 2,909 A2 100.437 1,507,005.00 .42 125581AF5 VAR RT 09/22/2006 DD 09/23/03 A 1,506,555.00 ,41 10,000,000.00 FEDERAL HOME LN MTG CORP MTN .000 4,075 AAA 98.170 9,993,100.00 2,75 3128X3WY5 4,000% 09/22/2009 DD 09/22/04 AAA 9,817,000.00 2 ,66 53,694,57 FHLMC GROUP 178-6064 .ooo 4,153 AAA 103.418 52,385.76 .01 31348SWZ3 6.384% 01/01/2028 DD 12/01/97 AAA 55,529,85 ,02 11,350,000.00 FEDERAL NATL MTG ASSN DEBS .ooo 5.153 AAA 101.884 11,521,271.50 3.24 31359MJX2 5.250% 06/15/2006 DD 06/22/01 AAA 11,563,834.00 3 .13 634 I 191. 57 FNMA POOL #0254510 .ooo 4,955 AAA 100.909 653,217.31 .17 31371KVB4 5,000% 11/01/2017 DD 10/01/02 AAA 639,956.37 .17 YLDANAL YIELD ANALYSIS PAGE 4 OCSF07522202 2005/02/28 RUN DATE 03/04/05 DISTRICT: LONG-TERM OPERATING RUN TIME 09.43.20 =::::=,=== ----------== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -----··------------------------------------------------------------------------------------------------ 136,644.19 FNMA POOL #0254631 .ooo 4.956 AAA 100.889 140,743.52 .03 31371KY47 5.000% 02/01/2018 DD 01/01/03 AAA 137,858.96 .04 121,857.07 FNMA POOL #0254760 .ooo 4.957 AAA 100,862 125,512,77 .03 31371K5V9 5.000% 06/01/2018 DD 05/01/03 AAA 122,907.48 ,03 55,366.11 FNMA POOL #0254866 .ooo 4.958 AAA 100.841 57,027.10 .01 31371LCB3 5,000% 09/01/2018 DD 08/01/03 AAA 55,831.74 .02 293,848.17 FNMA POOL 40254953 .ooo 4,959 AAA 100.828 297,613,11 .08 31371LE21 5,000% 11/01/2018 DD 10/01/03 AAA 296,281.23 ,08 795,269.68 FNMA POOL #0254987 .ooo 4,960 AAA 100. 811 805,459.07 .22 31371LF46 5,000% 12/01/2018 DD 11/01/03 AAA 801,720.85 ,22 136,245,92 FNMA POOL #0323980 .ooo 5,752 AAA 104.315 142,249.25 .03 31374T2M0 6,000% 04/01/2014 OD 09/01/99 AAA 142,124.93 .04 23,006.63 FNMA POOL #0357328 .ooo 4.957 AAA 100.872 23,696.83 .oo 31376J4M8 5,000% 01/01/2018 DD 01/01/03 AAA 23,207.33 .01 1,215,609.28 FNMA POOL #0357430 .ooo 4.957 AAA 100.862 1,229,284.89 ,34 31376KA71 5.000% 09/01/2018 DD 09/01/03 AAA 1,226,087.83 ,33 37,407.66 FNMA POOL #0456482 .ooo 5,752 AAA 104,318 39,055.92 .01 31381CCT2 6,000% 02/01/2014 DD 02/01/99 AAA 39,022,92 .01 97,990.42 FNMA POOL #0509649 .ooo 5.753 AAA 104.300 102,308.12 .02 31383QEW0 6,000% 09/01/2014 DD 09/01/99 AAA 102,204,01 .03 106,668.78 FNMA POOL #0535451 .ooo 5.752 AAA 104,304 111,368.87 .03 31384VZQ8 6,000% 06/01/2015 DD 07/01/00 AAA 111,259.80 .03 292,435.51 FNMA POOL #0555363 .000 4.956 AAA 100.882 301,208.56 .08 31385W5Yl 5,000% 04/01/2018 DD 03/01/03 AAA 295,014.79 ,08 30,305.25 FNMA POOL #0555453 .ooo 4.957 AAA 100,875 30,693.54 .oo 31385XBW6 5.000% 05/01/2018 DD 04/01/03 AAA 30,570,42 .01 242,774.45 FNMA POOL #0555545 .ooo 4,957 AAA 100,875 250,057.69 ,06 31385XES2 5,000% 06/01/2018 DD 05/01/03 AAA 244,898.73 ,07 837,365.55 FNMA POOL 40555621 .ooo 4.960 AAA 100. 811 846,785.91 ,23 31385XG68 5,000% 07/01/2018 DD 06/01/03 AAA 844,158.20 .23 YLDANAL YIELD ANALYSIS PAGE 5 OCSF07522202 2005/02/28 RUN DATE 03/04/05 DISTRICT: LONG-TERM OPERATING RUN TIME 09.43.20 ;, -------============= PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -----•r-------------------------------------------------------------------------------------- 456,124.13 FNMA POOL #0681309 .ooo 4.956 AAA 100.889 469,807.85 .12 31391Y3S4 5.000% 02/01/2018 DD 02/01/03 AAA 460,179.07 .12 54,826,90 FNMA POOL #0681334 .ooo 4,956 AAA 100.889 56,471.71 .01 31391Y4Tl 5.000% 02/01/2018 DD 01/01/03 AAA 55,314.31 .01 297,918.55 FNMA POOL #0684908 .ooo 4,957 AAA 100.862 301,735.65 .08 31400D3Rl 5,000% 06/01/2018 DD 05/01/03 AAA 300,486.61 .08 163,101.19 FNMA POOL #0685200 .000 4.957 AAA 100.875 165,190.95 .04 31400EGH7 5,000% 03/01/2018 DD 03/01/03 AAA 164,528.33 .04 27,670.85 FNMA POOL #0685665 .ooo 4,956 AAA 100.889 28,500.97 .oo 31400EW22 5,000% 02/01/2018 DD 02/01/03 AAA 27,916.84 .01 248,717.82 FNMA POOL #0686318 .ooo 4.956 AAA 100,882 256,179.35 .07 31400FPB7 5,000% 03/01/2018 DD 03/01/03 AAA 250,911.51 .07 96,183.83 FNMA POOL #0688739 .ooo 4.957 AAA 100.862 99,069.34 .02 31400JEL9 5.000% 06/01/2018 DD 06/01/03 AAA 97,012.93 .03 82,623.04 FNMA POOL #0689859 .000 4,957 AAA 100.862 83,681.65 .02 31400KMG8 5.000% 05/01/2018 DD 05/01/03 AAA 83,335.25 .02 537,616.74 FNMA POOL #0693834 .ooo 4.956 AAA 100.882 553,745.23 . 15 31400PY74 5,000% 03/01/2018 DD 03/01/03 AAA 542,358.52 ,15 191,324.99 FNMA POOL #0695852 .000 4.957 AAA 100,869 197,064.74 .05 31400SBVO 5.000% 05/01/2018 DD 05/01/03 AAA 192,987.60 .os 653,165.24 FNMA POOL #0695889 .000 4,957 AAA 100,869 672,760.21 ,18 31400SC23 5,000% 05/01/2018 DD 05/01/03 AAA 658,841.25 ,18 19,831.37 FNMA POOL #0697026 .ooo 4,957 AAA 100.869 20,426,33 .oo 31400TLF2 5,000% 05/01/2018 DD 04/01/03 AAA 20,003.70 .01 201,780.06 FNMA POOL #0702210 .000 4,960 AAA 100.811 207,833.46 .05 31401ADP9 5.000% 05/01/2018 DD 05/01/03 AAA 203,416,89 .06 118,355.47 FNMA POOL #0702328 .ooo 4,957 AAA 100.869 119,871.89 .03 31401AHD2 5,000% 05/01/2018 DD 04/01/03 AAA 119,383,98 ,03 248,255.39 FNMA POOL 10709148 .ooo 4,958 AAA 100.855 255,703.06 ,07 31401HZM7 5,000% 06/01/2018 DD 06/01/03 AAA 250,377,97 .07 YLDANAL YIELD ANALYSIS PAGE 6 OCSF07522202 2005/02/28 RUN DATE 03/04/05 DISTRICT: LONG-TERM OPERATING RUN TIME 09.43.20 = PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ------------------------------------------------------------------------------------------------ 554,720.63 FNMA POOL #0709360 .ooo 4.958 AAA 100.855 561,827.99 ,15 31401JB56 5,000% 07/01/2018 DD 06/01/03 AAA 559,463.49 ,15 96,941.62 FNMA POOL #0709826 .000 4,957 AAA 100.862 98,183.68 .02 31401JSP4 5.000% 06/01/2018 DD 06/01/03 AAA 97,777.26 .03 200,810.93 FNMA POOL #0709917 .ooo 4,957 AAA 100,862 203,383.81 ,OS 31401JVJ4 5.000% 06/01/2018 DD 06/01/03 AAA 202,541.92 .05 17,817.76 FNMA POOL #0709963 .000 4,960 AAA 100.811 18,046.06 .oo 31401JWYO 5,000% 06/01/2018 DD 06/01/03 AAA 17,962.30 .oo 520,532.38 FNMA POOL #0710235 .ooo 4.958 AAA 100.855 536,148.37 .14 31401KBC8 5,000% 06/01/2018 DD 06/01/03 AAA 524,982.93 ,14 14,309.28 FNMA POOL f0713344 .000 4 .957 AAA 100.862 14,738.55 .oo 31401NP52 5,000% 06/01/2018 DD 06/01/03 AAA 14,432.63 .oo 227,089.02 FNMA POOL 10713365 .000 4.958 AAA 100.855 229,998.59 .06 31401NQS1 5.000% 07/01/2018 DD 07/01/03 AAA 229,030.63 ,06 647,492.36 FNMA POOL #0720319 .ooo 4.958 AAA 100.855 655,788.36 ,18 31401WG45 5,000% 07/01/2018 DD 07/01/03 AAA 653,028,42 .18 1,954,310.57 FNMA POOL f0720369 .ooo 4.960 AAA 100.811 2,012,939.89 .55 31401WJNO 5,000% 06/01/2018 DD 06/01/03 AAA 1,970,163.80 .53 271,689.53 FNMA POOL f0721629 .000 4,958 AAA 100.855 279,840.23 .07 31401XVW4 5.000% 07/01/2018 DD 06/01/03 AAA 274,012.48 .07 228,418.83 FNMA POOL #0723487 .ooo 4.958 AAA 100.855 230,988.55 ,06 31402AXQ4 5,000% 06/01/2018 DD 06/01/03 AAA 230,371.81 .06 3,096,781.35 FNMA POOL #0725530 .ooo 4.963 AAA 100.753 3,138,878,21 .87 31402DA75 5,000% 06/01/2019 DD 05/01/04 AAA 3,120,112,81 ,84 364,993.01 FNMA POOL #0729601 .ooo 4.958 AAA 100,848 369,669,49 ,10 31402HRW3 5,000% 07/01/2018 DD 07/01/03 AAA 368,088,15 ,10 32,666.44 FNMA POOL #0732873 .ooo 4,959 AAA 100.828 33,084.96 .oo 31402MFN5 5,000% 11/01/2018 DD 10/01/03 AAA 32,936.92 .01 580,032,73 FNMA POOL #0737130 .ooo 4.958 AAA 100,841 587,464,40 .16 31402S4P9 5.000% 10/01/2018 DD 10/01/03 AAA 584,910.81 .16 YLDANAL YIELD ANALYSIS PAGE 7 OCSF07522202 2005/02/28 RUN DATE 03/04/05 DISTRICT: LONG-TERM OPERATING RUN TIME 09.43.20 ======= -= PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ----·--·--·--------------------------------------------------------------------------------~------- 481,031.10 FNMA POOL f 0738211 .000 4 .960 AAA 100,811 487,194.33 ,13 31402UDQ2 5,000% 10/01/2018 DD 10/01/03 AAA 484,933.19 .13 170,706.30 FNMA POOL #0738487 .000 4,959 AAA 100.828 172,893.47 ,04 3l402UNC2 5,000% 10/01/2018 DD 10/01/03 AAA 172,119,75 .os 1,999,800.00 FNMA POOL #0740457 .ooo 4,960 AAA 100.811 2,026,984.78 .56 31402WTN8 5,000% 10/01/2018 DD 10/01/03 AAA 2,016,022.24 ,55 659,376.66 FNMA POOL f0740471 ,000 4,960 AAA 100.811 667,824,91 ,18 31402WT40 5,000% 10/01/2018 DD 10/01/03 AAA 664,725,48 ,18 708,091.84 FNMA POOL J0740748 .ooo 4.958 AAA 100.841 717,164.26 .20 31402WSH7 5.000% 10/01/2018 DD 11/01/03 AAA 714,046.89 ,19 34,284.97 FNMA POOL f0743868 ,000 4,960 AAA 100.811 34,724 ,24 .oo 31403BMR1 5,000% 11/01/2018 DD 10/01/03 AAA 34,563.09 .01 912,125,49 FNMA POOL J0744008 .000 4.957 AAA 100.862 923,812.10 .25 31403BR54 5,000% 07/01/2018 DD 09/01/03 AAA 919,988.01 .25 143,565.73 FNMA POOL f0744316 .ooo 4.960 AAA 100.811 145,405.17 .04 31403B3Z4 5,000% 09/01/2018 DD 09/01/03 AAA 144,730,33 ,04 293,472,15 FNMA POOL f0747914 .ooo 4,959 AAA 100.828 297,232,27 ,OB 31403F3XO 5.000% 11/01/2018 DD 11/01/03 AAA 295,902.10 .00 177,145.57 FNMA POOL #0748400 .ooo 4.960 AAA 100.811 179,415.25 .OS 31403GNR9 5.000% 08/01/2018 DD 09/01/03 AAA 178,582.56 .OS 864,466.67 FNMA POOL 10748899 .ooo 4,960 AAA 100.811 875,542.65 .24 31403G7LO 5.000% 12/01/2018 DD 11/01/03 AAA 871,479.16 ,24 1,943,268.54 FNMA POOL #0750377 .000 4,960 AAA 100.811 1,968,166.66 .54 31403JUA2 5.000% 11/01/2018 DD 11/01/03 AAA 1,959,032.20 .53 1,680,021.51 FNMA POOL t0750380 .ooo 4,960 AAA 100.811 1,701,546.81 ,47 31403JUD6 5,000% 11/01/2018 DD 11/01/03 AAA 1,693,649.73 .46 164,644.23 FNMA POOL #0750445 .ooo 4,960 AAA 100.811 166,753.74 .04 31403JWE2 5,000% 11/01/2018 DD 11/01/03 AAA 165,979.81 .04 735,572.90 FNMA POOL f0751960 .ooo 4,960 AAA 100.811 744,997.44 .20 31403LMH1 5,000% 12/01/2018 DD 11/01/03 AAA 741,539.82 .20 YLDANAL YIELD ANALYSIS PAGE 8 OCSF07522202 2005/02/28 RUN DATE I 03/04/05 DISTRICT: LONG-TERM OPERATING RUN TIME 09.43.20 -------------------------------------==----==----===---===----===-================================================-======-=== PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -----------------------··--------------------------------------------------------------------------------- 775,923,13 FNMA POOL #0753425 .ooo 4,959 AAA 100,821 784,894.73 .21 31403NA23 5.000% 11/01/2018 DD 11/01/03 AAA 782,293.46 .21 571,622.07 FNMA POOL #0755165 .ooo 4,959 AAA 100,821 578,945.98 .16 31403Q6A3 5.000% 12/01/2018 DD 11/01/03 AAA 576,315.09 .16 889,000.55 FNMA POOL #0756372 .ooo 4,959 AAA 100,821 899,279.61 ,25 31403SJR8 5.000% 11/01/2018 DD 11/01/03 AAA 896,299.24 .24 3,128,104.18 FNMA POOL #0784251 .ooo 4.961 AAA 100.781 3,170,626.85 .88 31405BH46 5.000% 11/01/2019 DD 11/01/04 AAA 3,152,534.67 .85 894,436.15 FNMA POOL #0789670 .000 4.961 AAA 100,781 906,594.89 .25 31405HJP4 5.000% 12/01/2019 DD 12/01/04 AAA 901,421.70 ,24 871,497.87 FNMA POOL #0792432 .000 4,961 AAA 100.782 883,344.80 .24 31405LLM9 5.000% 10/01/2019 DD 10/01/04 AAA 878,312.98 ,24 902,821.18 FNMA POOL #0794195 .ooo 4.961 AAA 100.781 915,093.91 .25 31405NKG9 5.000% 11/01/2019 DD 11/01/04 AAA 909,872.21 .25 3,163,763.63 FNMA POOL #0797160 .ooo 4.961 AAA 100,781 3,206,771.03 .89 31405RTR7 5.000% 12/01/2019 DD 12/01/04 AAA 3,188,472.62 .86 835,837.55 FNMA POOL #0797408 .000 4,961 AAA 100.781 847,199.72 .23 31405R3R5 5.000% 12/01/2019 DD 12/01/04 AAA 842,365.44 .23 920,047.55 FNMA POOL 10797414 .ooo 4,961 AAA 100,781 932,554.44 .26 31405R3X2 5.000% 12/01/2019 DD 12/01/04 AAA 927,233.12 ,25 3,079,553.66 FNMA POOL 10803923 .ooo 4.961 AAA 100,781 3,121,416.35 .87 31406AD41 5.000% 12/01/2019 DD 12/01/04 AAA 3,103,604.97 .84 3,105,165.09 FNMA POOL #0807711 .ooo 4,961 AAA 100.781 3,147,375.92 .87 31406EKY9 5.000% 01/01/2020 DD 01/01/05 AAA 3,129,416.43 .85 8,897.84 GNMA POOL #0421389 .ooo 6.174 AAA 105.278 9,338.57 .oo 36206UC23 6.500% 04/15/2026 DD 04/01/96 AAA 9,367.47 .oo 12,065.30 GNMA POOL #0449851 .ooo 6.191 AAA 104.988 12,662.91 .oo 36208FWLO 6.500% 01/15/2028 DD 01/01/98 AAA 12,667,06 .oo 32,618.66 GNMA POOL #0466845 .ooo 6.182 AAA 105.151 34,234.31 .oo 36209BTA6 6,500% 06/15/2028 DD 06/01/98 AAA 34,298.85 .01 YLDANAL YIELD ANALYSIS PAGE 9 OCSF07522202 2005/02/28 RUN DATE 03/04/05 DISTRICT: LONG-TERM OPERATING RUN TIME 09.43.20 =============== = = ------= PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL -----------------·--------------------------------------------------------__ " _______ ----------------------- 110,448.63 GNMA POOL 10468052 .ooo 6,182 AAA 105,146 115,919.28 .03 36209C5M4 6,500% 07/15/2028 DD 07/01/98 AAA 116,132.32 .03 136,765.44 GNMA POOL #0476041 .ooo 6,182 AAA 105,151 143,325.92 .04 36209MZE7 6 ,500% 06/15/2028 DD 06/01/98 AAA 143,810.23 .04 120,255.39 GNMA POOL #0478626 .ooo 6.184 AAA 105.118 126,023,89 .03 36209QVT9 6 ,500% 01/15/2029 DD 01/01/99 AAA 126,410.06 .03 28,695.90 GNMA POOL 10480598 .ooo 6,183 AAA 105.129 30,072.40 .oo 36209S3F6 6,500% 10/15/2028 DD 10/01/98 AAA 30,167.71 .01 8,366.77 GNMA POOL 10512235 .ooo 6.187 AAA 105.064 8,781.18 .oo 36211GBC6 6,500% 11/15/2029 DD 11/01/99 AAA 8,790.46 .oo 91,956.65 GNMA POOL #0514326 .ooo 6.185 AAA 105.086 96,367.69 .02 36211JLF2 6,500% 07/15/2029 DD 07/01/99 AAA 96,633.57 .03 169,010.25 GNMA II POOL 10080395 .ooo 3,369 AAA 100,176 167,478.59 .04 36225CNM4 VAR RT 04/20/2030 DD 04/01/00 AAA 169,307.71 .05 1,538,544.97 GNMA II POOL f080408X .000 3.369 AAA 100.166 1,522,919.12 .43 36225CN28 VAR RT 05/20/2030 DD 05/01/00 AAA 1,541,098.95 ,42 1,328,458.68 GNMA II POOL 10080965 .000 3.505 AAA 99.844 1,327,628.38 .37 36225DCB8 VAR RT 07/20/2034 DD 07/01/04 AAA 1,326,386.28 .36 6,000,000.00 GENERAL ELEC CAP MTN #TR 00526 .000 2,615 AAA 100.000 6,002,544.00 1. 68 36962GXX7 VAR RT 03/15/2005 DD 03/20/02 AAA 6,000,000.00 1.62 3,500,ooo.oo GOLDMAN SACHS GRP MTN tTR00194 .ooo 2.865 AA3 100.187 3,507,850.50 .98 38141EJB6 VAR RT 10/27/2006 DD 10/29/03 A+ 3,506,545.00 ,95 800,000.00 GOLDMAN SACHS GRP MTN #TR00207 .ooo 3.007 AA3 100,500 800,000.00 .22 38141EJQ3 VAR RT 07/23/2009 DD 07/23/04 A+ 804,000.00 .22 3,500,000.00 GOLDMAN SACHS MTN# TR 00216 .ooo 2,731 AA3 99.968 3,500,ooo.oo .98 38141EJZ3 VAR RT 08/01/2006 DD 02/01/05 A+ 3,498,880.00 .95 3,200,000.00 MORGAN STANLEY NT .ooo 3.943 AA3 98.265 3,149,248.00 .88 61746BALO 3,875% 01/15/2009 DD 01/13/04 A+ 3,144,480.00 .85 572,962.33 RESIDENTIAL ASSET 03-RSll AIIB .000 2,978 AAA 100,064 572,962.33 ,16 760985K83 VAR RT 12/25/2033 DD 12/30/03 AAA 573,329.03 ,16 YLDANAL YIELD ANALYSIS PAGE 10 OCSF07522202 2005/02/28 RUN DATE 03/04/05 DISTRICT: LONG-TERM OPERATING RUN TIME 09.43.20 =======--=~====:==-~-==------===· --- PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL ---------------------------------------------------------- -------------------------------------------- 2,985,923.50 SBA GTD DEV PARTN 2001-20C 1 .ooo 5.954 AAA 106.490 2,985,923.50 .89 83162CLJO 6.340% 03/01/2021 AAA 3,179,709.94 .86 1,782,321.97 SBA GTD PARTN CTFS SBIC-PS 01 .000 6.287 AAA 105.610 1,782,321.97 .52 831641DD4 6.640% 02/10/2011 DD 02/21/01 NR 1,882,310.23 .51 1,600,000.00 UNITED AIRLS PASSTHRU 01-1 C .ooo 80.054 WR 8.533 1,600,000.00 .03 909317BC2 6.831% 03/01/2010 DD 08/22/01 A-136,528.00 ,04 20,000,000.00 US TREASURY NOTES .ooo 5.947 AAA 105.094 22,620,312.50 5.90 9128272JO 06.250% 02/15/2007 DD 02/15/97 AAA 21,018,800.00 5.69 3,534,240.00 US TREASURY INFLATION INDEX NT .ooo 3.358 AAA 107.938 3,842,216.96 1.07 9128273T7 3.625% 01/15/2008 DD 01/15/98 AAA 3,814,770.30 1.03 15,086,760.00 US TREASURY INFLATION INDEX NT .000 3.494 AAA 110.906 16,704,119.02 4.69 9128274Y5 3.875% 01/15/2009 DD 01/15/99 AAA 16,732,197.48 4.53 3,900,000.00 US TREASURY NOTES .000 5.646 AAA 101.844 4,288,149.14 1.11 9128276N7 05.750% 11/15/2005 DD 11/15/00 AAA 3,971,916.00 1.08 17,600,000.00 US TREASURY NOTES .ooo 3.434 AAA 98.290 17,405,000.00 4.85 912828BT6 3.375% 12/15/2008 DD 12/15/03 AAA 17,299,040.00 4,68 21,soo,000.00 US TREASURY NOTES .ooo 2. 773 AAA 99.180 27,463,468.63 7.65 912828CMO 2.750% 06/30/2006 DD 06/30/04 AAA 27,274,500.00 7,39 49,000,000.00 US TREASURY NOTES .ooo 2,776 AAA 99.080 49,103,927.41 13.62 912828CQ1 2.750% 07/31/2006 DD 07/31/04 AAA 48,549,200.00 13.15 55,300,000.00 US TREASURY NOTES .000 2.413 AAA 98.440 55,048,031.25 15,28 912828CU2 2.375% 08/31/2006 DD 08/31/04 AAA 54,437,320.00 14.74 20,000,000.00 US TREASURY NOTES .000 2.906 AAA 98.920 20,640,268.90 5.11 912828DD9 2.875% 11/30/2006 DD 11/30/04 AAA 20,575,360.00 5.57 14,000,000.00 US TREASURY NOTES .ooo 3.576 AAA 97.870 13,880,251.70 3.84 912828DE7 3.500% 12/15/2009 DD 12/15/04 AAA 13,701,800.00 3.71 11150,000.00 VIRGINIA ELEC & PWR 01 SER A .ooo 5.632 A3 102.093 1,743,840.00 .so 927804ENO 5.750% 03/31/2006 DD 03/27/01 BBB+ 1,786,627.50 .48 16,817,920.00 US TREASURY INFLATION INDEX NT 3.B17 3.210 AAA 105,125 14,909,433.02 4,96 912B272M3 3.375% 01/15/2007 DD 01/15/97 AAA 17,679,838.40 4.79 YLDANAL YIELD ANALYSIS PAGE 11 OCSF07522202 2005/02/28 RUN DATE 03/04/05 DISTRICT: LONG-TERM OPERATING RUN TIME 09,43.20 ----------------------_,. PAR VALUE YTM AT CURRENT MOODY MARKET TOTAL COST/ % TYPE SECURITY ID SECURITY DESCRIPTION BOOK YIELD S-P PRICE MARKET VALUE % TOTAL --------------------------------------------------------------------------------------------------- 785,482.19 FHLMC MULTICLASS MTG SER E3 A 6.316 3.784 AAA 99.551 786,318.98 .21 3133TCE95 VAR RT 08/15/2032 DD 12/01/97 AAA 781,955.37 .21 470,390.59 GNMA GTD REMIC TR 2000-9 FH 6.320 3.068 AAA 100.720 470,390.59 .13 3837H4NX9 VAR RT 02/16/2030 AAA 473,777.40 .13 193,958.46 GNMA II POOL #080088M 6.705 3 .363 AAA 100.361 198,201.30 .05 36225CC20 7,375% 06/20/2027 DD 06/01/97 AAA 194,658.65 .05 154,432.86 GNMA II POOL #0080023 6.992 4.053 AAA 101. 764 156,990.65 .04 36225CAZ9 VAR RT 12/20/2026 DD 12/01/96 AAA 157,157.06 .04 2,100,000.00 FEDERAL NATL MTG ASSN DEBS 7 .113 6,052 AAA 109.464 2,030,133.00 .64 31359MEY5 6.625% 09/15/2009 DD 09/01/99 AAA 2,298,744.00 .62 1,000,000.00 FORD MOTOR CR CO NT 7.582 6.707 A3 100.640 965,170.00 .28 345397GV9 6.750% 05/15/2005 DD 05/24/93 BBB-1,006,400.00 .27 934,565.22 WMP/HUNTOON PAIGE t 000-11150 7 .684 7 .427 AAA 100.987 914,267 .63 .26 302998GE3 7.500% 12/01/2030 DD 10/21/99 AAA 943,793.68 .26 1,600,000.00 ALLSTATE CORP SR NT 7.967 7.814 Al 100.781 1,594,032.00 .45 020002AL5 7.875% 05/01/2005 DD 05/01/00 A+ 1,612,496.00 .44 -------------------------------------------TOTAL FIXED INCOME SECURITIES .075 4,275 358,351,727,74 100.00 356,218,136.40 96.46 ----------------------------------------- TOTAL .075 4.266 371,402,676.80 100.00 369,269,085.46 100.00 ---------------======== @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCS~CONSOUDATED-OCSGOOOlOOOO 2/28/2005 Status: FINAL Net Unrealized Price ., Cost Market Value %of Gain/Loss Description \ Base Shares Par Base Base Total Base U.S. DOLLAR CASH & CASH EQUIVALENTS PAYABLE FOR INVESTMENTS -5,648,345.69 -5,648,345.69 -1.28% 0.00 PURCHASED INTEREST RECEIVABLE 2,125,565.92 2,125,565.92 0.48% 0.00 RECEIVABLE FOR INVESTMENTS 19,563.45 19,563.45 0.00% 0.00 SOLD BANK OF AMERlCAN NA INSTL C/D 100.0000 1,600,000.000 1,600,000.00 1,600,000.00 0.36% 0.00 2.260% 03/09/2005 DD 11/16/04 SEC ID: 06050GGS3 FEDERAL HOME LN BK CONS DISC 99.8087 2,000,000.000 1,996,173.33 1,996,173.33 0.45% 0.00 MAT 03/04/2005 SEC ID: 313385CQ7 FEDERAL HOME LN BK CONS DISC 99.4136 3,000,000.000 2,982,406.67 2,982,406.67 0.68% 0.00 MAT 03/09/2005 SEC ID: 313385CV6 FEDERAL HOME LN BK CONS 99.3519 3,000,000.000 2,980,556.33 2,980,556.33 0.68% 0.00 SYSTEM MAT 04/27/2005 SEC ID: 313385EW2 FEDERAL HOME LN MTG CORP DISC 99.4024 6,000,000.000 5,964,142.50 5,964,142.50 1.35% 0.00 MAT 03/15/2005 SEC ID: 313397DB4 FEDERAL HOME LN MTG CORP DISC 99.1200 2,500,000.000 2,478,000.00 2,478,000.00 0.56% 0.00 MAT 04/05/2005 SEC ID: 313397DY4 FEDERAL HOME LN MTG CORP DISC 99.3559 2,000,000.000 1,987,117.78 1,987,117.78 0.45% 0.00 MAT 05/10/2005 SEC ID: 313397FK2 FEDERAL HOME LN MTG CORP DISC 99.3374 2,000,000.000 1,986,748.89 1,986,748.89 0.45% 0.00 MAT 02/17/2005 SEC ID: 313397FS5 FEDERAL HOME LN MTG CORP DISC 99.2922 1,587,000.000 1,575,767.57 1,575,767.57 0.36% 0.00 MAT 05/31/2005 SEC ID: 313397GG0 FEDERAL NATL MTG ASSN DISC NTS 99.3499 10,700,000.000 10,630,444.17 10,630,444.17 2.41% 0.00 MAT 004/27 /2005 SEC ID: 313589EW9 FEDERAL NATL MTG ASSN DISCOUNT 99.3439 3,800,000.000 3,775,066.67 3,775,066.67 0.86% 0.00 MAT 05/11/2005 SEC ID: 313589FL2 3/8/2005 9:14:04AM PST 1 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED -OCSGOOO 10000 2/28/2005 Status: FINAL Net UnreaU;ed Price Cost Market Value %of Gain/Loss Description l Base Shares Par Base Base Total Base HSBC BANK USA INSTL C/D 100.0000 1,400,000.000 1,400,000.00 1,400,000.00 0.32% 0.00 2.335% 03/23/2005 DD 11/23/04 SEC ID: 40428AGZ4 UBS AG STAMFORD BRH INSTL C/D 99.9550 10,000,000.000 9,995,500.00 9,995,500.00 2.27% 0.00 VAR RT 07/05/2005 DD 07 /02/04 SEC ID: 90261GE47 U S TREASURY BILL 98.9593 9,000,000.000 8,906,337.09 8,906,337.09 2.02% 0.00 DUE 04/28/2005 DD 10/28/04 SEC ID: 912795SL6 U S TREASURY BILL 99.2550 3,300,000.000 3,261,060.00 3,275,415.00 0.74% 14,355.00 0.000% 06/09/2005 DD 12/09/04 SEC ID: 912795SS1 U S TREASURY BILL 98.7182 1,200,000.000 1,184,617.83 1,184,617.83 0.27% 0.00 DUE 07/21/2005 DD 01/20/2005 SEC ID: 912795VH1 WELLS FARGO BANK NA INSTL C/D 100.0000 1,300,000.000 1,300,000.00 1,300,000.00 0.30% 0.00 2.520% 03/18/2005 DD 02/18/05 SEC ID: 9497Pl USO LEHMAN CAT 2 REPO 100.0000 13,000,000.000 13,000,000.00 13,000,000.00 2 .95% 0.00 02.550% 03/01/2005 DD 02/28/05 SEC ID: 99432C236 DREYFUS TREASURY CASH MGMT 100.0000 3,376,061.320 3,376,061.32 3,376,061.32 0.77% 0.00 SEC ID : 996085247 TOTAL CASH & CASH EQUIVALENTS 80,763,061.320 76,876,783.83 76,891,138.83 17.46% 14,355.00 FIXED INCOME SECURITIES AIG SUNAMERICA GLOBAL REG S 109.8670 752,000.000 826,199.84 826,199.84 0.19% 0.00 5.850% 08/01/2008 DD 08/08/01 SEC ID: U00907AA0 COMMIT TO PUR FNMA SF MTG 100.8100 4,000,000.000 4,072,578.12 4,032,400.00 0.92% -40,178.12 5.500% 03/01/2035 DD 03/01/05 SEC ID: 01F052631 ALLSTATE CORP SR NT 100.7810 1,600,000.000 1,594,032.00 1,612,496.00 0.37% 18,464.00 7.875% 05/01/2005 DD 05/01/00 SEC ID: 020002AL5 ASSOCIATES CORP NORTH AMER SR 100.9530 3,000,000.000 3,112,350.00 3,028,590.00 0.69% -83,760.00 6 .625% 06/15/2005 DD 06/09/95 SEC ID: 046003FF1 BANK AMER N A TRANCHE #TR00255 99.9840 1,500,000.000 1,500,000.00 1,499,760.00 0.34% -240.00 VAR RT 08/08/2005 DD 02/07 /05 SEC ID: 06050VLQ8 3/8/2005 9: 14:04AM PST 2 Workbench @ Asset Detail Report ID: GL8013. Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED -OCSGOO0 10000 2/28/2005 Status: FINAL Net Unrealiz~d Price ,, Cost Market Value %of Gain/Loss , ' J .~ I,· ' Description Base ,. Shares Par Base Base Total Base BANKAMERICA CORP MTN SR 00150 100.7810 150,000.000 153,652.50 151,171.50 0.03% -2,481.00 7.125% 05/12/2005 DD 05/ 12/95 SEC ID: 06605LGF0 CIT GROUP INC NEW SR NT 100.4370 1,500,000.000 1,507,005.00 1,506,555.00 0.34% -450.00 VAR RT 09/22/2006 DD 09/23/03 SEC ID: 125581AF5 WMP/HUNTOON PAIGE #000-11150 100.9875 934,565.220 914,267.63 943,793.68 0.21% 29,526.05 7.500% 12/01/2030 DD 10/21/99 SEC ID: 302998GE3 FEDERAL HOME LN MTG CORP MTN 98.1700 10,000,000.000 9,993,100.00 9,817,000.00 2.23% -176,100.00 4.000% 09/22/2009 DD 09/22/04 SEC ID: 3128X3WY5 FHLMC MULTICLASS MTG SER E3 A 99.5510 785,482.190 786,318.98 781,955.37 0.18% -4,363.61 VAR RT 08/15/2032 DD 12/01/97 SEC ID: 3133TCE95 FHLMC GROUP #78-6064 103.4180 53,694.570 52,385.76 55,529.85 0.01% 3,144.09 6.384% 01/01/2028 DD 12/01/97 SEC ID: 31348SWZ3 FEDERAL NATL MTG ASSN DEBS 109.4640 2,100,000.000 2,030,133.00 2,298,744.00 0.52% 268,611.00 6.625% 09/15/2009 DD 09/01/99 SEC ID: 31359MEY5 FEDERAL NATL MTG ASSN DEBS 101.8840 11,350,000.000 11,521,271.50 11,563,834.00 2.63% 42,562.50 5.250% 06/15/2006 DD 06/22/01 SEC ID: 31359MJX2 FNMA POOL #0254510 100.9090 634,191.570 653,217.31 639,956.37 0.15% -13,260.94 5.000% 11/01/2017 DD 10/01/02 SEC ID: 31371KVB4 FNMA POOL #0254631 100.8890 136,644.190 140,743.52 137,858.96 0.03% -2,884.56 5.000% 02/01/2018 DD 01/01/03 SEC ID: 31371KY47 FNMA POOL #0254760 100.8620 121,857.070 125,512.77 122,907.48 0.03% -2,605.29 5.000% 06/01/2018 DD 05/01/03 SEC ID: 31371K5V9 FNMA POOL #0254866 100.8410 55,366.110 57,027.10 55,831.74 0.01% -1,195.36 5.000% 09/01/2018 DD 08/01/03 SEC ID: 31371LCB3 FNMA POOL #0254953 100.8280 293,848.170 297,613.11 296,281.23 0.07% -1,331.88 5.000% 11/01/2018 DD 10/01/03 SEC ID: 31371LE21 FNMA POOL #0254987 100.8112 795,269.680 805,459.07 801,720.85 0.18% -3,738.22 5.000% 12/01/2018 DD 11/01/03 SEC ID: 31371LF46 3/8/2005 9:14:04AM PST 3 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: 0CSOC0NS0UDATED-OCSGOOOlOOOO 2/28/2005 Status: FINAL Net Unrealized Price . ~ Cost Market Value %of Gain/Loss Description Shares Par :1 ;• ., Total Base Base Base . • '.il Base FNMA POOL #0323980 104.3150 136,245.920 142,249.25 142,124.93 0.03% -124.32 6.000% 04/01/2014 DD 09/01/99 SEC ID: 31374T2MO FNMA POOL #0357328 100.8724 23,006.630 23,696.83 23,207.33 0 .01% -489.50 5.000% 01/01/2018 DD 01/01/03 SEC ID: 31376J4M8 FNMA POOL #0357430 100.8620 1,215,609.280 1,229,284.89 1,226,087.83 0 .28% -3,197.06 5.000% 09/01/2018 DD 09/01/03 SEC ID: 31376KA71 FNMA POOL #0456482 104.3180 37,407.660 39,055.92 39,022.92 0.01% -33.00 6.000% 02/01/2014 DD 02/01/99 SEC ID: 31381CCT2 FNMA POOL #0509649 104.3000 97,990.420 102,308.12 102,204.01 0.02% -104.11 6.000% 09/01/2014 DD 09/01/99 SEC ID: 31383QEWO FNMA POOL #0535451 104.3040 106,668.780 111,368.87 111,259.80 0.03% -109.07 6.000% 06/01/2015 DD 07 /01/00 SEC ID: 31384VZQ8 FNMA POOL #0555363 100.8820 292,435.510 301,208.56 295,014.79 0.07% -6,193.77 5.000% 04/01/2018 DD 03/01/03 SEC ID: 31385W5Yl FNMA POOL #0555453 100.8750 30,305.250 30,693.54 30,570.42 0.01% -123.12 5.000% 05/01/2018 DD 04/01/03 SEC ID: 31385XBW6 FNMA POOL #0555545 100.8750 242,774.450 250,057.69 244,898.73 0.06% -5,158.96 5.000% 06/01/2018 DD 05/01/03 SEC ID: 31385XES2 FNMA POOL #0555621 100.8112 837,365.550 846,785.91 844,158.20 0.19% -2,627.71 5.000% 07/01/2018 DD 06/01/03 SEC ID: 31385XG68 FNMA POOL #0681309 100.8890 456,124.130 469,807.85 460,179.07 0.10% -9,628.78 5.000% 02/01/2018 DD 02/01/03 SEC ID: 31391Y3S4 FNMA POOL #0681334 100.8890 54,826.900 56,471.71 55,314.31 0.01% -1,157.40 5.000% 02/01/2018 DD 01/01/03 SEC ID: 31391Y4Tl FNMA POOL #0684908 100.8620 297,918.550 301,735.65 300,486.61 0.07% -1 ,249.04 5.000% 06/01/2018 DD 05/01/03 SEC ID: 31400D3Rl FNMA POOL #0685200 100.8750 163,101.190 165,190.95 164,528.33 0 .04% -662.62 5.000% 03/01/2018 DD 03/01/03 SEC ID: 31400EGH7 3/8/2005 9:14:04AM PST 4 Workbench @ Asset Detail Report ID: GL8013 Me-llon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOLIDATED-OCSGOO0l00OO 2/28/2005 Status: FINAL Net Unrealized Price • ~-t 'I c • Cost --Market Value %of Gain/Loss Description I Base • Shares Par Base -~-Base Total . Base •1:::. .. FNMA POOL #0685665 100.8890 27,670.850 28,500.97 27,916.84 0.01% -584.13 5.000% 02/01/2018 DD 02/01/03 SEC ID: 31400EW22 FNMA POOL #0686318 100.8820 248,717.820 256,179.35 250,911.51 0.06% -5,267.84 5.000% 03/01/2018 DD 03/01/03 SEC ID: 31400FPB7 FNMA POOL #0688739 100.8620 96,183.830 99,069.34 97,012.93 0.02% -2,056.41 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31400JEL9 FNMA POOL #0689859 100.8620 82,623.040 83,681.65 83,335.25 0.02% -346.40 5.000% 05/01/2018 DD 05/01/03 SEC ID: 31400KMG8 FNMA POOL #0693834 100.8820 537,616.740 553,745.23 542,358.52 0.12% -11,386.71 5.000% 03/01/2018 DD 03/01/03 SEC ID: 31400PY74 FNMA POOL #0695852 100.8690 191,324.990 197,064.74 192,987.60 0.04% -4,077.14 5.000% 05/01/2018 DD 05/01/03 SEC ID: 31400SBV0 FNMA POOL #0695889 100.8690 653,165.240 672,760.21 658,841.25 0.15% -13,918.96 5.000% 05/01/2018 DD 05/01/03 SEC ID: 31400SC23 FNMA POOL #0697026 100.8690 19,831.370 20,426.33 20,003.70 0.00% -422.63 5.000% 05/01/2018 DD 04/01/03 SEC ID: 31400TLF2 FNMA POOL #0702210 100.8112 201,780.060 207,833.46 203,416.89 0.05% -4,416.57 5.000% 05/01/2018 DD 05/01/03 SEC ID: 31401ADP9 FNMA POOL #0702328 100.8690 118,355.470 119,871.89 119,383.98 0.03% -487.91 5.000% 05/01/2018 DD 04/01/03 SEC ID: 31401AHD2 FNMA POOL #0709148 100.8550 248,255.390 255,703.06 250,377.97 0.06% -5,325.09 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401HZM7 FNMA POOL #0709360 100.8550 554,720.630 561,827.99 559,463.49 0.13% -2,364.50 5.000% 07/01/2018 DD 06/01/03 SEC ID: 31401JB56 FNMA POOL #0709826 100.8620 96,941.620 98,183.68 97,777.26 0.02% -406.42 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401JSP4 FNMA POOL #0709917 100.8620 200,810.930 203,383.81 202,541.92 0.05% -841.89 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401JVJ4 3/8/2005 9:14:04AM PST 5 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED-OCSGOOO 10000 2/28/2005 Status: FINAL Net Unrealized Price Cost Market Value %of Gain/Loss Description ,. Base Shares Par Base Base Total Base FNMA POOL #0709963 100.8112 17,817.760 18,046.06 17,962.30 0.00% -83.76 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401JWY0 FNMA POOL #0710235 100.8550 520,532.380 536,148.37 524,982.93 0.12% -11,165.44 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401KBC8 FNMA POOL #0713344 100.8620 14,309.280 14,738.55 14,432.63 0.00% -305.92 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401NP52 FNMA POOL #0713365 100.8550 227,089.020 229,998.59 229,030.63 0.05% -967.96 5.000% 07/01/2018 DD 07 /01/03 SEC ID : 31401NQS1 FNMA POOL #0720319 100.8550 647,492.360 655,788.36 653,028.42 0.15% -2,759.94 5.000% 07/01/2018 DD 07 /01/03 SEC ID: 31401WG45 FNMA POOL #0720369 100.8112 1,954,310.570 2,012,939.89 1,970,163.80 0.45% -42,776.09 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31401WJN0 FNMA POOL #0721629 100.8550 271,689.530 279,840.23 274,012.48 0.06% -5,827.75 5.000% 07/01/2018 DD 06/01/03 SEC ID: 31401XVW4 FNMA POOL #0723487 100.8550 228,418.830 230,988.55 230,371.81 0.05% -616.74 5.000% 06/01/2018 DD 06/01/03 SEC ID: 31402AXQ4 FNMA POOL #0725530 100.7534 3,096,781.350 3,138,878.21 3,120,112.81 0.71% -18,765.40 5.000% 06/01/2019 DD 05/01/04 SEC ID: 31402DA75 FNMA POOL #0729601 100.8480 364,993.010 369,669.49 368,088.15 0.08% -1,581.34 5.000% 07/01/2018 DD 07 /01/03 SEC ID: 31402HRW3 FNMA POOL #0732873 100.8280 32,666.440 33,084.96 32,936.92 0.01% -148.04 5.000% 11/01/2018 DD 10/01/03 SEC ID: 31402MFNS FNMA POOL #0737130 100.8410 580,032.730 587,464.40 584,910.81 0.13% -2,553.59 5.000% 10/01/2018 DD 10/01/03 SEC ID: 31402S4P9 FNMA POOL #0738211 100.8112 481,031.100 487,194.33 484,933.19 0.11% -2,261.14 5.000% 10/01/2018 DD 10/01/03 SEC ID: 31402UDQ2 FNMA POOL #0738487 100.8280 170,706.300 172,893.47 172,119.75 0.04% -773.72 5.000% 10/01/2018 DD 10/01/03 SEC ID: 31402UNC2 3/8/2005 9:14:04AM PST 6 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED-OCSGOO0l00OO 2/28/2005 Status: FINAL Net Unrealized Price ,, .', Cost Market Value %of Gain/Loss Descrl ption ,, Shares Par Total '• Base Base ' Base Base ': FNMA POOL #0740457 100.8112 1,999,800.000 2,026,984.78 2,016,022.24 0.46% -10,962.54 5.000% 10/01/2018 DD 10/01/03 SEC ID: 31402WTN8 FNMA POOL #0740471 100.8112 659,376.660 667,824.91 664,725.48 0 .15% -3,099.43 5.000% 10/01/2018 DD 10/01/03 SEC ID: 31402WT40 FNMA POOL #0740748 100.8410 708,091.840 717,164.26 714,046.89 0 .16% -3,117.37 5.000% 10/01/2018 DD 11/01/03 SEC ID: 31402W5H7 FNMA POOL #0743868 100,8112 34,284.970 34,724.24 34,563.09 0 .01% -161.15 5.000% 11/01/2018 DD 10/01/03 SEC ID: 31403BMR1 FNMA POOL #0744008 100.8620 912,125.490 923,812.10 919,988.01 0 .21% -3,824.09 5.000% 07/01/2018 DD 09/01/03 SEC ID: 31403BR54 FNMA POOL #0744316 100.8112 143,565.730 145,405.17 144,730.33 0 .03% -674.84 5.000% 09/01/2018 DD 09/01/03 SEC ID: 31403B324 FNMA POOL #0747914 100,8280 293,472,150 297,232.27 295,902.10 0 .07% -1,330.17 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403F3X0 FNMA POOL #0748400 100,8112 177,145.570 179,415.25 178,582.56 0,04% -832.69 5.000% 08/01/2018 DD 09/01/03 SEC ID: 31403GNR9 FNMA POOL #0748899 100.8112 864,466.670 875,542.65 871,479.16 0.20% -4,063.49 5.000% 12/01/2018 DD 11/01/03 SEC ID: 31403G7L0 FNMA POOL #0750377 100.8112 1,943,268.540 1,968,166.66 1,959,032.20 0.44% -9,134.46 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403JUA2 FNMA POOL #0750380 100.8112 1,680,021.510 1,701,546.81 1,693,649.73 0.38% -7,897.08 5.000% 11/01/2018 DD 11/01/03 SEC ID : 31403JUD6 FNMA POOL #0750445 100.8112 164,644.230 166,753.74 165,979.81 0.04% -773.93 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403JWE2 FNMA POOL #0751960 100.8112 735,572.900 744,997.44 741,539.82 0.17% -3,457.62 5.000% 12/01/2018 DD 11/01/03 SEC ID: 31403LMH1 FNMA POOL #0753425 100.8210 775,923.130 784,894.73 782,293.46 0.18% -2,601.27 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403NA23 3/8/2005 9:14:04AM PST 7 Workbench @ Mellon OCSD-CONSOUDATED-OCSGOO0l00OO Description FNMA POOL #0755165 5.000% 12/01/2018 DD 11/01/03 SEC ID : 31403Q6A3 FNMA POOL #0756372 5.000% 11/01/2018 DD 11/01/03 SEC ID: 31403SJR8 FNMA POOL #0784251 5.000% 11/01/2019 DD 11/01/04 SEC ID: 31405BH46 FNMA POOL #0789670 5.000% 12/01/2019 DD 12/01/04 SEC ID: 31405HJP4 FNMA POOL #0792432 5.000% 10/01/2019 DD 10/01/04 SEC ID: 3 l 405LLM9 FNMA POOL #0794195 5.000% 11/01/2019 DD 11/01/04 SEC ID: 31405NKG9 FNMA POOL #0797160 5.000% 12/01/2019 DD 12/01/04 SEC ID: 31405RTR7 FNMA POOL #0797408 5.000% 12/01/2019 DD 12/01/04 SEC ID: 31405R3R5 FNMA POOL #0797414 5.000% 12/01/2019 DD 12/01/04 SEC ID: 31405R3X2 FNMA POOL #0803923 5.000% 12/01/2019 DD 12/01/04 SEC ID: 31406AD41 FNMA POOL #0807711 5.000% 01/01/2020 DD 01/01/05 SEC ID: 31406EKY9 FORD MOTOR CR CO NT 6.750% 05/15/2005 DD 05/24/93 SEC ID: 345397GV9 GNMA POOL #0421389 6.500% 04/15/2026 DD 04/01/96 SEC ID: 36206UC23 GNMA POOL #0449851 6.500% 01/15/2028 DD 01/01/98 SEC ID: 36208FWLO 3/8/2005 9:14:04AM PST Price Base 100.8210 100.8210 100.7810 100.7810 100.7820 100.7810 100.7810 100.7810 100.7810 100.7810 100.7810 100.6400 105.2780 104.9875 Asset Detail by Currency 2/28/2005 Shares Par 571,622.070 889,000.550 3,128,104.180 894,436.150 871,497.870 902,821.180 3,163,763.630 835,837.550 920,047.550 3,079,553.660 3,105,165.090 1,000,000.000 8,897.840 12,065.300 8 Cost Base 578,945.98 899,279.61 3,170,626.85 906,594.89 883,344.80 915,093.91 3,206,771.03 847,199.72 932,554.44 3,121,416.35 3,147,375.92 965,170.00 9,338.57 12,662.91 ReportID: GL8013 Base Currency: USD Alternate Base Currency: Exchange Rate: Status: FINAL Net Unrealized Market Value % or Gain/Loss Base Total ·~ -Base 576,315.09 0.13% -2,630.89 896,299.24 0.20% -2,980.37 3,152,534.67 0.72% -18,092.18 901,421.70 0.20% -5,173.19 878,312.98 0.20% -5,031.82 909,872.21 0.21% -5,221.70 3,188,472.62 0.72% -18,298.41 842,365.44 0.19% -4,834.28 927,233.12 0.21% -5,321.32 3,103,604.97 0.70% -17,811.38 3,129,416.43 0.71% -17,959.49 1,006,400.00 0.23% 41,230.00 9,367.47 0.00% 28.90 12,667.06 0.00% 4.15 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED-OCSGOOOlOOOO 2/28/2005 Status: FINAL Net Unrealized Price !,, Cost ·~ .,, Market Value %of Gain/Loss Description ' . Base Shares Par Base Base Total Base ~ GNMA POOL #0466845 105.1510 32,618.660 34,234.31 34,298.85 0.01% 64.54 6.500% 06/15/2028 DD 06/01/98 SEC ID: 36209BTA6 GNMA POOL #0468052 105.1460 110,448.630 115,919.28 116,132.32 0.03% 213.04 6.500% 07/15/2028 DD 07 /01/98 SEC ID: 36209C5M4 GNMA POOL #0476041 105.1510 136,765.440 143,325.92 143,810.23 0.03% 484.31 6.500% 06/15/2028 DD 06/01/98 SEC ID: 36209MZE7 GNMA POOL #0478626 105.1180 120,255.390 126,023.89 126,410.06 0 .03% 386.17 6.500% 01/15/2029 DD 01/01/99 SEC ID: 36209QVT9 GNMA POOL #0480598 105.1290 28,695.900 30,072.40 30,167.71 0.01% 95.31 6.500% 10/15/2028 DD 10/01/98 SEC ID: 36209S3F6 GNMA POOL #0512235 105.0640 8,366.770 8,781.18 8,790.46 0.00% 9.28 6.500% 11/15/2029 DD 11/01/99 SEC ID: 36211GBC6 GNMA POOL #0514326 105.0860 91,956.650 96,367.69 96,633.57 0.02% 265.88 6.500% 07/15/2029 DD 07 /01/99 SEC ID: 36211JLF2 GNMA II POOL #0080023 101.7640 154,432.860 156,990.65 157,157.06 0.04% 166.41 VAR RT 12/20/2026 DD 12/01/96 SEC ID: 36225CAZ9 GNMA II POOL #080088M 100.3610 193,958.460 198,201.30 194,658.65 0.04% -3,542.65 7.375% 06/20/2027 DD 06/01/97 SEC ID: 36225CC20 GNMA II POOL #0080395 100.1760 169,010.250 167,478.59 169,307.71 0.04% 1,829.12 VAR RT 04/20/2030 DD 04/01/00 SEC ID: 36225CNM4 GNMA II POOL #080408X 100.1660 1,538,544.970 1,522,919.12 1,541,098.95 0.35% 18,179.83 VAR RT 05/20/2030 DD 05/01/00 SEC ID: 36225CN28 GNMA II POOL #0080965 99.8440 1,328,458.680 1,327,628.38 1,326,386.28 0.30% -1,242.10 VAR RT 07/20/2034 DD 07 /01/04 SEC ID: 36225DCB8 GENERAL ELEC CAP MTN #TR 00526 100.0000 8,500,000.000 8,505,004.00 8,500,000.00 1.93% -5,004.00 VAR RT 03/15/2005 DD 03/20/02 SEC ID: 36962GXX7 GOLDMAN SACHS GRP MTN 100.1870 3,500,000.000 3,507,850.50 3,506,545.00 0 .80% -1,305.50 #TR00194 VAR RT 10/27/2006 DD 10/29/03 SEC ID: 38141E.JB6 3/8/2005 9:14:04AM PST 9 Workbench @ Asset Detail Report ID: GL8013 Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED -OCSGOO0 10000 2/28/2005 Status: FINAL Net Unrealized Price -Cost Market Value %of Gain/Loss 1, Description Base Shares Par Base Base ' Total Base GOLDMAN SACHS GRP MTN 100.5000 800,000.000 800,000.00 804,000.00 0.18% 4,000.00 #TR00207 VAR RT 07/23/2009 DD 07 /23/04 SEC ID: 38141EJQ3 GOLDMAN SACHS MTN# TR 00216 99.9680 3,500,000.000 3,500,000.00 3,498,880.00 0.79% -1,120.00 VAR RT 08/01/2006 DD 02/01/05 SEC ID: 38141EJZ3 GNMA GTD REMIC TR 2000-9 FH 100.7200 470,390.590 470,390.59 473,777.40 0.11% 3,386.81 VAR RT 02/16/2030 SEC ID: 3837H4NX9 MORGAN STANLEY NT 98.2650 3,200,000.000 3,149,248.00 3,144,480.00 0.71% -4,768.00 3.875% 01/15/2009 DD 01/13/04 SEC ID: 61746BAL0 NORWEST FINL INC NT 100.7810 150,000.000 153,084.00 151,171.50 0.03% -1,912.50 7.600% 05/03/2005 DD 05/03/00 SEC ID: 669383DX6 RESIDENTIAL ASSET 03-RSl 1 AIIB 100.0640 572,962.330 572,962.33 573,329.03 0.13% 366.70 VAR RT 12/25/2033 DD 12/30/03 SEC ID: 760985K83 SBA GTD DEV PARTN 2001-20C 1 106.4900 2,985,923.500 2,985,923.50 3,179,709.94 0.72% 193,786.44 6.340% 03/01/2021 SEC ID: 83162CW0 SBA GTD PARTN CTFS SBIC-PS 01 105.6100 1,782,321.970 1,782,321.97 1,882,310.23 0.43% 99,988.26 6.640% 02/10/2011 DD 02/21/01 SEC ID: 831641DD4 UNITED AIRLS PASSTHRU 0 1-1 C 8.5330 1,600,000.000 1,600,000.00 136,528.00 0.03% -1,463,472.00 6.831% 03/01/2010 DD 08/22/01 SEC ID: 90931 7BC2 US TREASURY NOTES 105.0940 20,000,000.000 22,620,312.50 21,018,800.00 4.77% -1,601,512.50 06.250% 02/15/2007 DD 02/ 15/97 SEC ID: 9128272J0 US TREASURY INFLATION INDEX NT 105.1250 16,817,920.000 14,909,433.02 17,679,838.40 4.01% 2,770,405.38 3.375% 01/15/2007 DD 01/ 15/97 SEC ID: 9128272M3 US TREASURY INFLATION INDEX NT 107.9375 3,534,240.000 3,842,216.96 3,814,770.30 0.87% -27,446.66 3.625% 01/15/2008 DD 01/ 15/98 SEC ID: 9128273T7 US TREASURY INFLATION INDEX NT 110.9065 15,086,760.000 16,704,119.02 16,732,197.48 3.80% 28,078.46 3.875% 01/15/2009 DD 01/ 15/99 SEC ID: 9128274Y5 U S TREASURY NOTES 101.8440 3,900,000.000 4,288,149.14 3,971,916.00 0.90% -316,233.14 05.750% 11/15/2005 DD 11/15/00 SEC ID: 9128276N7 3/8/2005 9:14:04AM PST 10 Workbench @ Asset Detail Report ID: GL8013. Mellon Base Currency: USD by Currency Alternate Base Currency: Exchange Rate: OCSD-CONSOUDATED -OCSGOO0l00OO 2/28/2005 Status: FINAL Net Unrealized Price ,, t .,. Cost Market Value %of Gain/Loss Description , ·~ Base Shares Par Base Base Total r Base • 'J U S TREASURY NOTES 98.2900 17,600,000.000 17,405,000.00 17,299,040.00 3.93% -105,960.00 3.375% 12/15/2008 DD 12/15/03 SEC ID: 912828BT6 U S TREASURY NOTES 99.1800 27,500,000.000 27,463,468.63 27,274,500.00 6.19% -188,968.63 2.750% 06/30/2006 DD 06/30/04 SEC ID: 912828CM0 U S TREASURY NOTES 99.0800 49,000,000.000 49,103,927.41 48,549,200.00 11.02% -554, 727.41 2.750% 07/31/2006 DD 07 /31/04 SEC ID: 912828CQ1 U S TREASURY NOTES 98.4400 55,300,000.000 55,048,031.25 54,437,320.00 12.36% -610,711.25 2.375% 08/31/2006 DD 08/31/04 SEC ID: 912828CU2 U S TREASURY NOTES 98.9200 20,800,000.000 20,640,268.90 20,575,360.00 4.67% -64,908.90 2.875% 11/30/2006 DD 11/30/04 SEC ID: 912828DD9 U S TREASURY NOTES 97.8700 14,000,000.000 13,880,251.70 13,701,800.00 3.11% -178,451.70 3.500% 12/15/2009 DD 12/15/04 SEC ID: 912828DE7 VIRGINIA ELEC & PWR 0 1 SER A 102.0930 1,750,000.000 1,743,840.00 1,786,627.50 0.41% 42,787.50 5.750% 03/31/2006 DD 03/27 /01 SEC ID: 927804ENO - TOTAL FIXED INCOME SECURITIES 362,379,170.690 365,773,274.24 363,548,829.40 82.54% -2,224,444.84 TOTAL ASSETS U.S. DOLLAR 443,142,232.010 442,650,058.07 440,439,968.23 100.00% -2,210,089.84 TOTAL ASSETS -BASE: 443,142,232.010 442,650,058.07 440,439,968.23 100.00% -2,210,089.84 3/8/2005 9: 14:04AM PST 11 Workbench ® Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOUDATED -OCSGOO0 10000 2/1/2005 -2/28/2005 Status: FINAL Trade Date " I' ' ,, Cost ,;' Amount Net Gain/Loss Tran Settle Date Base Price ~ -. ' ., " Type Description I. Reported Date Shares/Par . Base Base Base ',, . • ·' ' PURCHASES CASH & CASH EQUIVALENTS U.S. DOLLAR B FEDERAL HOME LN BK CONS DISC N MAT 2/15/2005 99.9930 7,300,000.000 7,299,486.97 -7,299,486.97 0.00 02/16/2005 2/15/2005 SEC ID: 313385BY 1 2/15/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07522202: LONG TERM OPER-PIMCO B FEDERAL HOME LN BK CONS DISC N MAT 2/18/2005 99.9737 1,400,000.000 1,399,631.33 -1,399,631.33 0.00 02/22/2005 2/18/2005 SEC ID: 313385CE4 2/18/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102 : LIQUID OPER-PIMCO B FEDERAL HOME LN BK CONS DISC MAT 2/22/2005 99.9933 1,400,000.000 1,399,906.67 -1,399,906.67 0.00 02/23/2005 2/22/2005 SEC ID: 313385CF1 2/22/2005 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07511102: LIQUID OPER-PIMCO B FEDERAL HOME LN BK CONS DISC MAT 2/24/2005 99.9932 1,400,000.000 1,399,904.33 -1,399,904.33 0.00 02/25/2005 2/24/2005 SEC ID: 313385CH7 2/24/2005 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07511102: LIQUID OPER-PIMCO B FEDERAL HOME LN BK CONS DISC N MAT 2/25/2005 99.9793 1,400,000.000 1,399,710.67 -1,399,710.67 0.00 02/28/2005 2/25/2005 SEC ID: 313385CL8 2/25/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B FEDERAL HOME LN BK CONS DISC N MAT 2/4/2005 99.8087 2,000,000.000 1,996,173.33 -1,996,173.33 0.00 03/04/2005 2/4/2005 SEC ID: 313385CQ7 2/4/2005 BROKER: MERRILL LYNCH PIERCE FENNER SMITH INC NY OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 1 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOL!DATEDJil!I2 ::J 6DOO'JOO•DO 2/1/2005 -2/28/2005 Status: FINAL . Trade Date ,, -........... I ,. •· • .. I .• n ' ..1 :• ":'"' . . Net Gain/Loss Tran ' '·~-Settle Date Base Price ~-r, \,, /~"'-.. Cost ·1 • Amount i,, r1 • ,. ! Type Description l"-IJ., Reported Date • '1 '\f -Base .. Base Base -. Shares/Par ? t. ~., .. . I: " ' . B FEDERAL HOME LN MTG CORP DISC MAT 2/11/2005 99.3559 2,000,000.000 1,987,117.78 -1,987,117.78 0.00 05/10/2005 2/11/2005 SEC ID: 313397FK2 2/11/2005 BROKER: BARCLAYS CAPITAL INC, NEW YORK OCSF07511102: LIQUID OPER-PIMCO B FEDERAL HOME LN MTG CORP DISC MAT 2/17/2005 99.3374 2,000,000.000 1,986,748.89 -1,986,748.89 0.00 02/17/2005 2/17/2005 SEC ID: 313397FS5 2/17/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07511102 : LIQUID OPER-PIMCO B FEDERAL HOME LN MTG CORP DISC MAT 2/28/2005 99.2922 1,587,000.000 1,575,767.57 -1,575,767.57 0.00 05/31/2005 3/1/2005 SEC ID: 313397GGO 2/28/2005 BROKER: MORGAN STANLEY & CO INC, NY OCSF07511102: LIQUID OPER-PIMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 2/8/2005 99.9933 1,200,000.000 1,199,919.67 -1, 199,919.67 0.00 02/09/2005 2/8/2005 SEC ID: 313589BR3 2/8/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PJMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 2/2/2005 99.3377 700,000.000 695,364.06 -695,364.06 0.00 05/04/2005 2/2/2005 SEC ID: 313589FDO 2/2/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07522202: LONG TERM OPER-PIMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 2/10/2005 99.3400 1,800,000.000 1,788,120.00 -1,788,120.00 0.00 05/11/2005 2/10/2005 SEC ID: 313589FL2 2/10/2005 BROKER: CHASE SECURITIES, NEW YORK OCSF07511102: LIQUID OPER-PIMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 2/11/2005 99.3473 2,000,000.000 1,986,946.67 -1,986,946.67 0.00 05/11/2005 2/11/2005 SEC ID: 313589FL2 2/11/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF0751 l 102: LIQUID OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 2 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCS D--CONSOLI DATE DJITI2 :J 60 ••J •DCJO• 2/1/2005 -2/28/2005 Status: FINAL -Trade Date ... , . ' r I; Tran Settle Date Base Price Cost rr, " Amount ", Net Gain/Loss " ,: ,, "• Type Description -Reported Date · Shares/Par >J •.t • Base ". Base Base ,, ,. ' " . r . B FEDERAL NATL MTG ASSN DISCOUNT MAT 2/15/2005 99.1052 10,100,000.000 10,009,621.83 -10,009,621.83 0.00 06/13/2005 2/15/2005 SEC ID: 313589GV9 2/15/2005 BROKER: CHASE SECURITIES, NEW YORK OCSF07522202: LONG TERM OPER-PIMCO B FEDERAL NATL MTG ASSN DISCOUNT MAT 2/17/2005 98.7866 9 ,000,000.000 8,890,796.25 -8,890, 796.25 0.00 07/20/2005 2/17/2005 SEC ID: 313589JJ3 2/17/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF0752 2202: LONG TERM OPER-PIMCO B WELLS FARGO BANK NA INSTL C/D 2.520% 2/16/2005 100.0000 1,300,000.000 1,300,000.00 -1,300,000.00 0.00 03/18/2005 DD 02/ 18/05 2/18/2005 SEC ID: 9497P 1U80 2/16/2005 BROKER: WELLS FARGO BROKERAGE SVCS LLC, MINNEAP OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 1 REPO REPO 02.350% 2/1/2005 100.0000 11,700,000.000 11,700,000.00 -11,700,000.00 0.00 02/02/2005 DD 02/01 /05 2/1/2005 SEC ID: 99431A280 2/1/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 1 REPO REPO 02.300% 2/2/2005 100.0000 13,300,000.000 13,300,000.00 -13,300,000.00 0.00 02/03/2005 DD 02/02/05 2/2/2005 SEC ID: 99431B684 2/2/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102 : LIQUID OPER-PIMCO B LEHMAN CAT 1 REPO REPO 02.380% 2/3/2005 100.0000 13,300,000.000 13,300,000.00 -13,300,000.00 0.00 02/04/2005 DD 02/03/05 2/3/2005 SEC ID: 994310102 2/3/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 02.370% 02/07/2005 DD 2/4/2005 100.0000 11,300,000.000 11,300,000.00 -11,300,000.00 0.00 02/ 04/05 2/4/2005 SEC ID: 99431 E555 2/4/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102 : LIQUID OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 3 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE D'ffl2 :J 6000•00:JDD 2/1/2005 -2/28/2005 Status: FINAL ~ Trade Date --1• -I .. .. . ,~ . ' . ~ '-.r _. ' ;_ . , " Tran ~-,, Settle Date Base Price t. -'.:.... ~ • Cost Amount Net Gain/Loss . ' ; • .1_ .,-~ ·.• Type Description J . Reported Date Shares/Par Base Base Base _. ·,_<-' . . •. • -· ,. -. ~ - B LEHMAN CAT 2 REPO 02.420% 02/08/2005 DD 2/7/2005 100.0000 9,800,000.000 9,800,000.00 -9,800,000.00 0.00 02/07/05 2/7/2005 SEC ID: 99431Gll3 2/7/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 02.390% 02/09/2005 DD 2/8/2005 100.0000 8,000,000.000 8,000,000.00 -8,000,000.00 0.00 02/08/05 2/8/2005 SEC ID: 99431H269 2/8/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE Im REPO 02.375% 02/09/2005 2/8/2005 100.0000 6,600,000.000 6,600,000.00 -6,600,000.00 0.00 OD 02/08/05 2/8/2005 SEC ID: 99431H392 2/8/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUlSSE FB REPO 02.420% 02/10/2005 2/9/2005 100.0000 6,500,000.000 6,500,000.00 -6,500,000.00 0.00 DD 02/09/05 2/9/2005 SEC ID: 99431J992 2/9/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 02.450%02/ 10/2005 DD 2/9/2005 100.0000 8,000,000.000 8,000,000.00 -8,000,000.00 0.00 02/09/05 2/9/2005 SEC ID: 99431K023 2/9/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 02.420% 02/11/2005 2/10/2005 100.0000 6,000,000.000 6,000,000.00 -6,000,000.00 0.00 DD 02{10/05 2/10/2005 SEC ID: 99431Ll46 2/10/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 1 REPO REPO 02.440% 2/10/2005 100.0000 8,000,000.000 8,000,000.00 -8,000,000.00 0.00 02/11/2005 DD 02/ 10/05 2/10/2005 SEC ID: 99431L310 2/10/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 4 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJID:2 • 60 •mm•••• 2/1/2005 -2/28/2005 Status: FINAL ,. ' Trade Date _...,. •,. ••I, l f!"~ ... ,. ' -j I' .. ... ,(~ ' Net Gain/Loss Tran l• f ' Cost -Amount J; Settle Date Base Price . ". . .. " . ,· Type Description f.' ' ·.t' ' Reported Date Shares/Par :. ,_4-~l . Base • • L\] ~ Base Base ~ I ~ II < l' ' . .. ~- B LEHMAN CAT 1 REPO REPO 02.470% 2/11/2005 100.0000 10,000,000.000 10,000,000.00 -10,000,000.00 0.00 02/14/2005 DD 02/ 11 /05 2/11/2005 SEC ID: 99431M888 2/11/2005 BROKER: LEHMAN aovr SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 02.490% 02/15/2005 DD 2/14/2005 100.0000 10,000,000.000 10,000,000.00 -10,000,000.00 0.00 02/ 14/05 2/14/2005 SEC ID: 99431P279 2/14/2005 BROKER: LEHMAN aovr SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 02.500% 02/16/2005 2/15/2005 100.0000 11,300,000.000 11,300,000.00 -11,300,000.00 0.00 DD 02/15/05 2/15/2005 SEC ID: 99431 Q608 2/15/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 02.400% 02/17/2005 2/16/2005 100.0000 7,600,000.000 7,600,000.00 -7,600,000.00 0.00 DD 02/ 16/05 2/16/2005 SEC ID: 99431 R887 2/16/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO B CREDIT SUISSE FB REPO 02.440% 02/17/2005 2/16/2005 100.0000 11,300,000.000 11,300,000.00 -11,300,000.00 0.00 DD 02/ 16/05 2/16/2005 SEC ID: 99431 R952 2/16/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 02.460% 02/18/2005 2/17/2005 100.0000 9,600,000.000 9,600,000.00 -9,600,000.00 0.00 DD 02/17/05 2/17/2005 SEC ID: 99431S653 2/17/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 5 @ Transaction Detail ReportID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATED[J[][][2• 60 •••••••• 2/1/2005 -2/28/2005 Status: FINAL . Trade Date . I ,~ I .!I [.ii Lio. I •• • ('I . Tran Settle Date Base Price •,r. Cost ' .. Amount Net Gain/Loss . ' Type Description Reported Date Shares/Par ~ -l 'I._. Base Base Base .. ·~ ' f ,, ,. . " B LEHMAN CAT 1 REPO REPO 02.410% 2/18/2005 100.0000 13,000,000.000 13,000,000.00 -13,000,000.00 0.00 02/22/2005 DD 02/ 18 /OS 2/18/2005 SEC ID: 99431 U997 2/18/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 02.440% 02/23/2005 DD 2/22/2005 100.0000 13,000,000.000 13,000,000.00 -13,000,000.00 0.00 02/22/05 2/22/2005 SEC ID: 99431 W068 2/22/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF0751 l102: LIQUID OPER-PIMCO B CREDIT SUISSE FB REPO 02.480%02/24/2005 2/23/2005 100.0000 14,400,000.000 14,400,000.00 -14,400,000.00 0.00 DD 02/23/05 2/23/2005 SEC ID: 99431X827 2/23/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102 : LIQUID OPER-PIMCO B LEHMAN CAT 1 REPO REPO 02.540% 2/24/2005 100.0000 13,000,000.000 13,000,000.00 -13,000,000.00 0.00 02/25/2005 DD 02/24 /05 2/24/2005 SEC ID: 994312475 2/24/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 02.520% 02/28/2005 DD 2/25/2005 100.0000 13,000,000.000 13,000,000.00 -13,000,000.00 0.00 02/25/05 2/25/2005 SEC ID: 994328089 2/25/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B LEHMAN CAT 2 REPO 02.550% 03/01/2005 DD 2/28/2005 100.0000 13,000,000.000 13,000,000.00 -13,000,000.00 0.00 02/28/05 2/28/2005 SEC ID: 99432C236 2/28/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO B DREYFUS TREASURY CASH MGMT 2/1/2005 1.0000 820.000 820.00 -820.00 0.00 SEC ID: 996085247 2/1/2005 OCSF07511102: LIQUID OPER-PIMCO 2/1/2005 3/8/2005 9: l 6:40AM PST Workbench * Actual Settle Date 6 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDJillI:2 0 60 o•O•D:JOO 2/1/2005 -2/28/2005 Status: FINAL .. ' Trade Date t -.1 : ., i ., Tran -r'.'-_ .,. Cost Amount Net Gain/Loss I ·• ., Settle Date Base Price . J -1: Type Description ·~ Reported Date Shares/Par .· ,: ·. · · .. •, Base ,. _, >~ .. J ... Base Base ., -. ' B DREYFUS TREASURY CASH MGMT 2/2/2005 1.0000 763.750 763.75 -763.75 0.00 SEC ID: 996085247 2/2/2005 OCSF07511102: LIQUID OPER-PIMCO 2/2/2005 B DREYFUS TREASURY CASH MGMT 2/3/2005 1.0000 2,224.510 2,224.51 -2,224.51 0.00 SEC ID: 996085247 2/3/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/3/2005 B DREYFUS TREASURY CASH MGMT 2/3/2005 1.0000 4,616.030 4,616.03 -4,616.03 0.00 SEC ID: 996085247 2/3/2005 OCSF07511102: LIQUID OPER-PIMCO 2/3/2005 B DREYFUS TREASURY CASH MGMT 2/4/2005 1.0000 4,705.950 4,705.95 -4,705.95 0.00 SEC ID: 996085247 2/4/2005 OCSF07511102: LIQUID OPER-PIMCO 2/4/2005 B DREYFUS TREASURY CASH MGMT 2/7/2005 1.0000 2,231.750 2,231.75 -2,231.75 0.00 SEC ID: 996085247 2/7/2005 OCSF07511102: LIQUID OPER-PIMCO 2/7/2005 B DREYFUS TREASURY CASH MGMT 2/8/2005 1.0000 739.110 739.11 -739.11 0.00 SEC ID: 996085247 2/8/2005 OCSF07511102: LIQUID OPER-PIMCO 2/8/2005 B DREYFUS TREASURY CASH MGMT 2/9/2005 1.0000 1,300,966.530 1,300,966.53 -1,300,966.53 0.00 SEC ID: 996085247 2/9/2005 OCSF07511102: LIQUID OPER-PIMCO 2/9/2005 B DREYFUS TREASURY CASH MGMT 2/10/2005 1.0000 206,171.640 206,171.64 -206,171.64 0.00 SEC ID: 996085247 2/10/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/10/2005 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 7 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE 0[]]][2 0 6• o•O••::J •• 2/1/2005 -2/28/2005 Status: FINAL Trade Date ... C ., ., •. .t.. Ill ~ Tran : ,, 1 }" Settle Date Base Price _I "I~ Cost . ,. -Amount Net Gain/Loss Type Description Reported Date Shares/Par .. Base .. Base Base -I . • ' 1u 'rf . --> .. . [' B DREYFUS TREASURY CASH MGMT 2/11/2005 1.0000 26,881.100 26,881.10 -26,881.10 0.00 SEC ID: 996085247 2/11/2005 OCSF07511102: LIQUID OPER-PIMCO 2/11/2005 B DREYFUS TREASURY CASH MGMT 2/14/2005 1.0000 2,058.330 2,058.33 -2,058.33 0.00 SEC ID: 996085247 2/14/2005 OCSF0751 ll02: LIQUID OPER-PIMCO 2/14/2005 B DREYFUS TREASURY CASH MGMT 2/15/2005 1.0000 2,526.840 2,526.84 -2,526.84 0.00 SEC ID: 996085247 2/15/2005 OCSF0751 l 102: LIQUID OPER-PIMCO 2/15/2005 B DREYFUS TREASURY CASH MGMT 2/15/2005 1.0000 1,470,499.490 1,470,499.49 -1,470,499.49 0.00 SEC ID: 996085247 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 B DREYFUS TREASURY CASH MGMT 2/16/2005 1.0000 784.720 784.72 -784.72 0.00 SEC ID: 996085247 2/16/2005 OCSF0751 l 102: LIQUID OPER-PIMCO 2/16/2005 B DREYFUS TREASURY CASH MGMT 2/17/2005 1.0000 14,353.000 14,353.00 -14,353.00 0.00 SEC ID: 996085247 2/17/2005 OCSF07511102: LIQUID OPER-PIMCO 2/17/2005 B DREYFUS TREASURY CASH MGMT 2/18/2005 1.0000 12,901,024.670 12,901,024.67 -12,901,024.67 0.00 SEC ID: 996085247 2/18/2005 OCSF07511102: LIQUID OPER-PIMCO 2/18/2005 B DREYFUS TREASURY CASH MGMT 2/22/2005 1.0000 67,931.170 67,931.17 -67,931.17 0.00 SEC ID: 996085247 2/22/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/22/2005 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 8 . @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE D[]J]][.2 J 6• •••••••• 2/1/2005 -2/28/2005 Status: FINAL ,. Trade Date .. . Tran . •, Cost Amount ··· Net Gain/Loss I' Settle Date Base Price Type Description ,. · , Reported Date Shares/Par ,. Base .,· Base Base " ~ B DREYFUS TREASURY CASH MGMT 2/23/2005 1.0000 881.110 881.11 -881.11 0.00 SEC ID: 996085247 2/23/2005 OCSF07511102: LIQUID OPER-PIMCO 2/23/2005 B DREYFUS TREASURY CASH MGMT 2/24/2005 1.0000 1,087.670 1,087.67 -1,087.67 0.00 SEC ID: 996085247 2/24/2005 OCSF07511102: LIQUID OPER-PIMCO 2/24/2005 B DREYFUS TREASURY CASH MGMT 2/25/2005 1.0000 1,206.550 1,206.55 -1,206.55 0.00 SEC ID: 996085247 2/25/2005 OCSF07511 l02: LIQUID OPER-PIMCO 2/25/2005 B DREYFUS TREASURY CASH MGMT 2/25/2005 1.0000 611,509.340 611,509.34 -611,509.34 0.00 SEC ID: 996085247 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 B DREYFUS TREASURY CASH MGMT 2/28/2005 1.0000 1,396,937.780 1,396,937.78 -1,396,937.78 0.00 SEC ID: 996085247 2/28/2005 OCSF07511102: LIQUID OPER-PIMCO 2/28/2005 B DREYFUS TREASURY CASH MGMT 2/28/2005 1.0000 39,352.780 39,352.78 -39,352.78 0.00 SEC ID: 996085247 2/28/2005 OCSF07522202: LONG TERM OPER -PlMCO 2/28/2005 B BSDT-LATE MONEY DEPOSIT ACCT 2/2/2005 1.0000 3,766.310 3,766.31 -3,766.31 0.00 SEC ID: 996087094 2/2/2005 OCSF07511102: LIQUID OPER-PIMCO 2/2/2005 B BSDT-LATE MONEY DEPOSIT ACCT 2/2/2005 1.0000 2,224.510 2,224.51 -2,224.51 0.00 SEC ID: 996087094 2/2/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/2/2005 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 9 @ Mellon OCSD-CONSOLIDATEDilllI2 'J 6 0 00'.:J ••••• Transaction Detail Reported by Transaction Category 2/1/2005 -2/28/2005 Tran Trade Date Settle Date Reported Date Base Price Type Description TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: TOTAL CASH & CASH EQUIVALENTS BASE: FIXED INCOME SECURITIES U.S. DOLLAR BC COMMIT TO PUR FNMA SF MTG 5.000% 02/01/2020 DD 02/01 /05 B B B B SEC ID: 01F050429 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG 5.000% 02/01/2020 DD 02/01 /05 SEC ID: 01F050429 BROKER: BARCLAYS CAPITAL INC, NEW YORK OCSF07522202: LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG 5.500% 03/01/2035 DD 03/01 /05 SEC ID: 01F052631 BROKER: LEHMAN GOVT SECS INC, NY OCSF07522202: LONG TERM OPER-PIMCO COMMIT TO PUR FNMA SF MTG 5.500% 03/01/2035 DD 03/01 /05 SEC ID: 01F052631 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONG TERM OPER-P!MCO BANK AMER NA TRANCHE #TR00255 VAR RT 08/08/2005 DD 02/07 /05 SEC ID: 06050VLQ8 BROKER: BANC OF AMERICA SEC LLC, SAN FRANCISCO OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9: 16:40AM PST * Actual Settle Date 1/11/2005 2/15/2005 2/1/2005 1/12/2005 2/15/2005 2/1/2005 2/8/2005 3/14/2005 2/8/2005 2/8/2005 3/14/2005 2/8/2005 2/3/2005 2/7/2005 2/3/2005 101.3594 101.4531 101.7969 101.8203 100.0000 10 Shares/Par 306,353,264.640 306,353,264.640 -22,000,000.000 500,000.000 1,000,000.000 3,000,000.000 1,500,000.000 Cost Base 306,081,480.66 306,081,480.66 -22,299,062.50 507,265.62 1,017,968.75 3,054,609.37 1,500,000.00 ReportID: EWBA09 Base Currency: USD Status: FINAL Amount Base -306,081,480.66 -306,081,480.66 22,299,062.50 -507,265.62 -1,017,968.75 -3,054,609.37 -1,500,000.00 Net Gain/Loss Base 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Workbench . @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE D::Klrn2 O 60 DDCJDO:JO• 2/1/2005-2/28/2005 Status: FINAL ·-Trade Date .... . " .. ~ r ... ' ' ' Tran ' ~ -; l Cost Amount Net Gain/Loss .. , Settle Date Base Price --:,~ . . r~ ·-C I . Type Description • l Reported Date Shares/Par Base ~ . Base Base • '..fJ I'• - I , ~ri"" . .I. • +,, ,.,. B FNMA POOL #0725530 5.000% 06/01/2019 1/11/2005 101.3594 999,900.810 1,013,493.21 -1,013,493.21 0.00 DD 05/01/04 2/15/2005 SEC ID: 31402DA75 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL#0725530 5.000%06/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 05/01/04 2/15/2005 SEC ID: 31402DA75 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0725530 5.000% 06/01/2019 1/11/2005 101.3594 999,900.810 1,013,493.21 -1,013,493.21 0.00 DD 05/01/04 2/15/2005 SEC ID: 31402DA75 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL#0725530 5.000%06/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 05/01/04 2/15/2005 SEC ID: 31402DA75 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0725530 5.000% 06/01/2019 1/11/2005 101.3594 97,078.920 98,398.58 -98,398.58 0.00 DD 05/01/04 2/15/2005 SEC ID: 31402DA75 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0725530 5.000%06/01/2019 1/11/2005 101.3594 0.000 0.00 -188.76 0.00 DD 05/01/04 2/15/2005 SEC ID: 31402DA75 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0725530 5.000% 06/01/2019 1/11/2005 101.3594 999,900.810 1,013,493,21 -1,013,493.21 0.00 DD 05/01/04 2/15/2005 SEC ID: 31402DA75 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 11 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCS D-CONSOLIDATEDJ]J[2 J 60 DDJDO:J•• 2/1/2005 -2/28/2005 Status: FINAL Trade Date --' -~ 0, Tran -., Cost Amount Net Gain/Loss ... Settle Date Base Price ., , Ii ll Type Description .~ • .,..f. -Reported Date Shares/Par •. Base Base Base .-[ : ,: ' ' I• .. --,:: 1B FNMA POOL #0725530 5.000% 06/01/2019 1/11/2005 101.3594 0 .000 0.00 -1,944.25 0.00 DD 05/01/04 2/15/2005 SEC ID: 31402DA75 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 8 FNMA POOL #0740457 5.000% 10/01/2018 1/11/2005 101.3594 999,900.000 1,013,492.39 -1,013,492.39 0.00 DD 10/01/03 2/15/2005 SEC ID: 31402WTN8 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0740457 5.000% 10/01/2018 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 10/01/03 2/15/2005 SEC ID: 31402WTN8 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 8 FNMA POOL #0740457 5.000% 10/01/2018 1/11/2005 101.3594 999,900.000 1,013,492.39 -1,013,492.39 0.00 DD 10/01/03 2/15/2005 SEC ID: 31402WTN8 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0740457 5.000% 10/01/2018 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 10/01/03 2/15/2005 SEC ID: 31402WTN8 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 8 FNMA POOL#0784251 5.000% 11/01/2019 1/11/2005 101.3594 999,900.580 1,013,492.98 -1,013,492.98 0.00 DD 11/01/04 2/15/2005 SEC ID: 31405BH46 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0784251 5.000% 11/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 11 /01/04 2/15/2005 SEC ID: 31405BH46 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 12 . @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDJ[][[2 • 60 •••••••• 2/1/2005 -2/28/2005 Status: FINAL Trade Date "·. ~- • I Tran Settle Date Base Price . '· Cost Amount Net Gain/Loss : ~ " ~ J Type Description ' ,· Reported Date Shares/Par --r .. Base " Base Base . n .. J .. - B FNMA POOL #0784251 5.000% 11/01/2019 1/11/2005 101.3594 128,402.440 130,147.91 -130,147.91 0.00 DD 11/01/04 2/15/2005 SEC ID: 31405BH46 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 1B FNMA POOL #0784251 5.000% 11/01/2019 1/11/2005 101.3594 0 .000 0.00 -249.67 0.00 DD 11/01/04 2/15/2005 SEC ID: 31405BH46 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL#0784251 5.000% 11/01/2019 1/11/2005 101.3594 999,900.580 1,013,492.98 -1,013,492.98 0.00 DD 11/01/04 2/15/2005 SEC ID: 31405BH46 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 1B FNMA POOL #0784251 5.000% 11/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 11/01/04 2/15/2005 SEC ID: 31405BH46 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0784251 5.000% 11/01/2019 1/11/2005 101.3594 999,900.580 1,013,492.98 -1,013,492.98 0.00 DD 11/01/04 2/15/2005 SEC ID: 31405BH46 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 1B FNMA POOL #0784251 5.000% 11/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 11/01/04 2/15/2005 SEC ID: 31405BH46 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0789670 5.000% 12/01/2019 1/11/2005 101.3594 894,436.150 906,594.89 -906,594.89 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405HJP4 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 13 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE D:::rnr2 0 60 o•=ioo o•• 2/1/2005 -2/28/2005 Status: FINAL Trade Date ~~-. ~ '' .-..~:. ' Net Gain/Loss Tran Settle Date Base Price I• -Cost Amount Type Description Reported Date Shares/Par <"'" -Base Base r Base ; . . 1B FNMA POOL #0789670 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -1,739.18 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405HJP4 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0792432 5.000% 10/01/2019 1/11/2005 101.3594 871,497.870 883,344.80 -883,344.80 0.00 DD 10/01/04 2/15/2005 SEC ID: 31405LLM9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONGTERM OPER-PIMCO 1B FNMA POOL #0792432 5.000% 10/01/2019 1/11/2005 101.3594 0.000 0.00 -1,694.58 0.00 DD 10/01/04 2/15/2005 SEC ID: 31405LLM9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL#0794195 5.000% 11/01/2019 1/11/2005 101.3594 902,821.180 915,093.91 -915,093.91 0.00 DD 11/01/04 2/15/2005 SEC ID: 31405NKG9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 1B FNMA POOL#0794195 5.000% 11/01/2019 1/11/2005 101.3594 0.000 0.00 -1,755.49 0.00 DD 11 /01/04 2/15/2005 SEC ID: 31405NKG9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0797160 5.000% 12/01/2019 1/11/2005 101.3594 999,900.260 1,013,492.65 -1,013,492.65 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405RTR7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202 : LONG TERM OPER-PIMCO 1B FNMA POOL#0797160 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405RTR7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202 : LONG TERM OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 14 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDJDill2 J 60 ••J ••u•• 2/1/2005 -2/28/2005 Status: FINAL .. ,., Trade Date -- -': .I, ~ : . ' .. Tran Settle Date Base Price 'I. Cost •1 ' Amount Net Gain/Loss Type Description --' ,, :.;; J.. (; -Base Reported Date Shares/Par ., Base ' Base , -,,; -, "· ~-. • -.. B FNMA POOL #0797160 5.000% 12/01/2019 1/11/2005 101.3594 999,900.260 1,013,492.65 -1,013,492.65 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405RTR7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL#0797160 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405RTR7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0797160 5.000% 12/01/2019 1/11/2005 101.3594 999,900.260 1,013,492.65 -1,013,492.65 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405RTR7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0797160 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405RTR7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0797160 5.000% 12/01/2019 1/11/2005 101.3594 164,062.850 166,293.08 -166,293.08 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405RTR7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0797160 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -319.01 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405RTR7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0797408 5.000% 12/01/2019 1/11/2005 101.3594 835,837.550 847,199.72 -84 7,199.72 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405R3R5 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 15 @ Transaction Detail ReportID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCS D-CONSOLIDATE DJ[][][2 CJ 60 OD CJ ••u•• 2/1/2005 -2/28/2005 Status: FINAL I .. Trade Date ,,;=.:; •I •·•, ' . • I • Tran ,. ,, ,-,. Cost ''Amount · Net Gain/Loss ,· T Settle Date Base Price ,-.. Type Description .. . ' .. ' . .. :.~ '~ ·: . Reported Date Shares/Par . Base Base -v .... Base IB FNMA POOL #0797408 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -1,625.24 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405R3R5 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0797414 5.000% 12/01/2019 1/11/2005 101.3594 920,047.550 932,554.44 -932,554.44 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405R3X2 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0797414 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -1,788.98 0.00 DD 12/01/04 2/15/2005 SEC ID: 31405R3X2 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0803923 5.000% 12/01/2019 1/11/2005 101.3594 999,900.370 1,013,492.77 -1,013,492.77 0.00 DD 12/01/04 2/15/2005 SEC ID: 31406AD4 l 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0803923 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 12/01/04 2/15/2005 SEC ID: 31406AD41 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0803923 5.000% 12/01/2019 1/11/2005 101.3594 999,900.370 1,013,492.77 -1,013,492.77 0.00 DD 12/01/04 2/15/2005 SEC ID: 31406AD41 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0803923 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 12/01/04 2/15/2005 SEC ID: 31406AD41 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 16 . @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOL[DATEDJIH2:J 6•••:m•::m• 2/1/2005 -2/28/2005 Status: FINAL . Trade Date ll . Tran .. . Cost Amount Net Gain/Loss .. •, Settle Date Base Price •'! .1! ... .. . -. [ i..t Type Description ·,, ' t:,1· Reported Date Shares/Par ' ~ r Base Base Base -· I - B FNMA POOL#0803923 5.000% 12/01/2019 1/11/2005 101.3594 999,900.370 1,013,492.77 -1,013,492.77 0.00 DD 12/01/04 2/15/2005 SEC ID: 31406AD41 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL#0803923 5.000% 12/01/2019 1/11/2005 101.3594 0,000 0.00 -1,944.25 0.00 DD 12/01/04 2/15/2005 SEC ID: 31406AD41 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL#0803923 5.000% 12/01/2019 1/11/2005 101.3594 79,852.550 80,938.04 -80,938.04 0.00 DD 12/01/04 2/15/2005 SEC ID: 31406AD41 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PlMCO IB FNMA POOL #0803923 5.000% 12/01/2019 1/11/2005 101.3594 0.000 0.00 -155.27 0.00 DD 12/01/04 2/15/2005 SEC ID: 31406AD41 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202 : LONG TERM OPER-PIMCO B FNMA POOL #0807711 5.000% 01/01/2020 1/11/2005 101.3594 999,900.180 1,013,492.57 -1,013,492.57 0.00 DD 01/01/05 2/15/2005 SEC ID: 31406EKY9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0807711 5.000% 01/01/2020 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 01/01/05 2/15/2005 SEC ID: 31406EKY9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202 : LONG TERM OPER-PIMCO B FNMA POOL #0807711 5.000% 01/01/2020 1/11/2005 101.3594 999,900.180 1,013,492.57 -1,013,492.57 0.00 DD 01 /01/05 2/15/2005 SEC ID: 31406EKY9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202 : LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 17 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDOIJ!l[2 ::J 60 DD::J ••DDD 2/1/2005 -2/28/2005 Status: FINAL ,ii· Trade Date e ~i. . -. Tran ' C • 1· ··, r: Cost '" Amount -Net Gain/Loss . -Settle Date Base Price -. -· . I -,: ', Type Description ·, ; , ~:fr ' ; Reported Date Shares/Par i,-~ .. .. ~· Base . Base Base .. _, IB FNMA POOL #0807711 5.000% 01/01/2020 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 01/01/05 2/15/2005 SEC ID: 31406EKY9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0807711 5.000% 01/01/2020 1/11/2005 101.3594 999,900.180 1,013,492.57 -1,013,492.57 0.00 DD 01 /01/05 2/15/2005 SEC ID: 31406EKY9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0807711 5.000% 01/01/2020 1/11/2005 101.3594 0.000 0.00 -1,944.25 0.00 DD 01/01/05 2/15/2005 SEC ID: 31406EKY9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B FNMA POOL #0807711 5.000% 01/01/2020 1/11/2005 101.3594 105,464.550 106,898.21 -106,898.21 0.00 DD 01/01/05 2/15/2005 SEC ID: 31406EKY9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IB FNMA POOL #0807711 5.000% 01/01/2020 1/11/2005 101.3594 0.000 0.00 -205.07 0.00 DD 01/01/05 2/15/2005 SEC ID: 31406EKY9 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO B US TREASURY NOTES 2.875% 11/30/2006 DD 2/14/2005 99.2321 20,800,000.000 20,640,268.90 -20,640,268.90 0 .00 11/30/04 2/28/2005 SEC ID: 912828DD9 2/14/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONG TERM OPER-PIMCO 1B US TREASURY NOTES 2.875% 11/30/2006 DD 2/14/2005 99.2321 0 .000 0.00 -147,857.14 0.00 11/30/04 2/28/2005 SEC ID: 912828DD9 2/14/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 18 . @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJDill2 J 6 0 •DJ•lTJ•• 2/1/2005 -2/28/2005 Status: FINAL , Trade Date ,· Tran . -Settle Date Base Price ' Cost ' Amount Net Gain/Loss , ' . ·" .. -Type Description -· Reported Date Shares/Par ~J ._ Base < Base Base -_. -.;. r 1 I B US TREASURY NOTES 3.500% 12/15/2009 DD 2/14/2005 99.1447 14,000,000.000 13,880,251.70 -13,880,251.70 0.00 12/ 15/04 2/28/2005 SEC ID: 912828DE7 2/14/2005 BROKER: CREDIT SUIS_SE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO IB US TREASURY NOTES 3.500% 12/15/2009 DD 2/14/2005 99.1447 0.000 0.00 -100,961.54 0.00 12/ 15/04 2/28/2005 SEC ID: 912828DE7 2/14/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: 40,797,808.210 40,598,142.74 -40,889,734.92 0.00 TOTAL FIXED INCOME SECURITIES BASE: 40,797,808.210 40,598,142.74 -40,889,734.92 0.00 TOTAL PURCHASES BASE: 347,151,072.850 346,679,623.40 -346,971,215.58 0.00 SALES CASH & CASH EQUIVALENTS U.S. DOLLAR s FEDERAL HOME LN BK CONS DISC MAT 2/1/2005 98.9394 -800,000.000 -791,515.33 791,515.33 0.00 06/13/2005 2/1/2005 SEC ID: 313397GV7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IS FEDERAL HOME LN BK CONS DISC MAT 2/1/2005 98.9394 0.000 0.00 828.67 0.00 06/13/2005 2/1/2005 SEC ID: 313397GV7 2/1/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 19 @ Transaction Detail ReportID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATED'J[][[2 !J 60 ••!J••'J•• 2/1/2005 -2/28/2005 Status: FINAL Trade Date .,. ~ Cost Amount Net Gain/Loss Tran Settle Date Base Price r. i Type Description . Reported Date Shares/Par Base ,,•l' Base Base . ' ,, .. . ~, .. . ~, r " •• l . ., s FEDERAL NATL MTG ASSN DISCOUNT MAT 2/1/2005 99.3788 -1,100,000.000 -1,093,086.75 1,093,166.25 79.50 04/06/2005 2/1/2005 SEC ID: 313589DZ3 2/1/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO IS FEDERAL NATL MTG ASSN DISCOUNT MAT 2/1/2005 99.3788 0.000 0.00 2,238.19 0.00 04/06/2005 2/1/2005 SEC ID: 313589DZ3 2/1/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO s FEDERAL NATL MTG ASSN DISCOUNT MAT 2/28/2005 99.3377 -700,000.000 -695,364.06 695,364.06 0.00 05/04/2005 2/28/2005 SEC ID: 313589FDO 2/28/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONG TERM OPER-PIMCO IS FEDERAL NATL MTG ASSN DISCOUNT MAT 2/28/2005 99.3377 0.000 0.00 1,248.72 0.00 05/04/2005 2/28/2005 SEC ID: 313589FDO 2/28/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONG TERM OPER-PIMCO s FEDERAL NATL MTG ASSN DISCOUNT MAT 2/28/2005 99.1052 -10,100,000.000 -10,009,621.83 10,009,621.83 0.00 06/13/2005 2/28/2005 SEC ID: 313589GV9 2/28/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202 : LONG TERM OPER-PIMCO IS FEDERAL NATL MTG ASSN DISCOUNT MAT 2/28/2005 99.1052 0.000 0.00 7,011.09 0.00 06/13/2005 2/28/2005 SEC ID: 313589GV9 2/28/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONG TERM OPER-PIMCO s FEDERAL NATL MTG ASSN DISCOUNT MAT 2/28/2005 98.7866 -9,000,000.000 -8,890,796.25 8,890,796.25 0.00 07/20/2005 2/28/2005 SEC ID: 313589JJ3 2/28/2005 BROKER: MERRILL LYNCH PIERCE FENNER SMITH INC NY OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 20 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DO!llli2 J 60 D•JDOJOD 2/1/2005 -2/28/2005 Status: FINAL ., Trade Date ,I ;ii..;;" II ,,.._ ' ll l ·;, ; -J Tran 1' • Settle Date Base Price ,,1 .. ' Cost .. Amount Net Gain/Loss " .. Type Description Reported Date Shares/Par . I~ '" Base Base Base ' ., -·-- IS FEDERAL NATL MTG ASSN DISCOUNT MAT 2/28/2005 98.7866 0.000 0.00 6,253.75 0.00 07/20/2005 2/28/2005 SEC JD: 313589JJ3 2/28/2005 BROKER: MERRILL LYNCH PIERCE FENNER SMITH INC NY OCSF07522202: LONGTERM OPER-PIMCO s GENERAL ELEC CAP DISC 02/04/2005 2/1/2005 99.3200 -500,000.000 -496,600.00 496,600.00 0.00 SEC ID: 36959HP43 2/1/2005 BROKER: MORGAN STANLEY & CO INC, NY 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO IS GENERALELECCAPDISC 02/04/2005 2/1/2005 99.3200 0.000 0.00 3,297.92 0.00 SEC JD: 36959HP43 2/1/2005 BROKER: MORGAN STANLEY & CO INC, NY 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO s US TREASURY BILL DUE 07/21/2005 DD 2/1/2005 98.7181 -100,000.000 -98,718.15 98,718.15 0.00 01/20/2005 2/1/2005 SEC ID: 912795VH1 2/1/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202 : LONG TERM OPER-PIMCO IS US TREASURY BILL DUE 07/21/2005 DD 2/1/2005 98.7181 0.000 0.00 25.98 0.00 01/20/2005 2/1/2005 SEC ID: 912795VH1 2/1/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONG TERM OPER-PIMCO s US TREASURY BILL DUE 07/21/2005 DD 2/28/2005 98.7181 -14,700,000.000 -14,511,568.46 14,511,568.05 -0.41 01/20/2005 2/28/2005 SEC ID: 912795VH1 2/28/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO IS US TREASURY BILL DUE 07/21/2005 DD 2/28/2005 98.7181 0.000 0.00 23,446.30 0.00 01/20/2005 2/28/2005 SEC ID: 912795VH1 2/28/2005 BROKER: UBS SECURITIES LLC, STAMFORD OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 21 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD ocs D-CONSOLI DATE DJil!I2 '.J 60 oo::m•ooo 2/1/2005 -2/28/2005 Status: FINAL ,· Trade Date " .. i-l,·1 .• Tran . I ., Cost '' Amount .. , Net Gain/Loss .. Settle Date Base Price . tll~ .. ~ ":!; ·1 ,,. I Type Description · ·. ·: · _ J· -,~ Reported Date Shares/Par Base .4,11: Base Base ~ . J ~ '.Ir, • . .. s LEHMAN CAT 2 REPO 02.460% 02/01/2005 DD 2/1/2005 100.0000 -12,000,000.000 -12,000,000.00 12,000,000.00 0.00 01/31/05 2/1/2005 SEC ID: 99430Y594 2/1/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 02.460% 02/01/2005 DD 2/1/2005 100.0000 0.000 0.00 820.00 0.00 01/ 31/05 2/1/2005 SEC ID: 99430Y594 2/1/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 1 REPO REPO 02.350% 2/2/2005 100.0000 -11,700,000.000 -11, 700,000.00 11,700,000.00 0.00 02/02/2005 DD 02/01 /05 2/2/2005 SEC ID: 99431A280 2/2/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 1 REPO REPO 02.350% 2/2/2005 100.0000 0.000 0.00 763.75 0.00 02/02/2005 DD 02/01 /05 2/2/2005 SEC ID: 99431A280 2/2/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 1 REPO REPO 02.300% 2/3/2005 100.0000 -13,300,000.000 -13,300,000.00 13,300,000.00 0.00 02/03/2005 DD 02/02 /OS 2/3/2005 SEC ID: 994318684 2/3/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 1 REPO REPO 02.300% 2/3/2005 100.0000 0.000 0.00 849.72 0.00 02/03/2005 DD 02/02/05 2/3/2005 SEC ID: 994318684 2/3/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 1 REPO REPO 02.380% 2/4/2005 100.0000 -13,300,000.000 -13,300,000.00 13,300,000.00 0.00 02/04/2005 DD 02/03 /05 2/4/2005 SEC ID: 994310102 2/4/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9: l 6:40AM PST Workbench * Actual Settle Date 22 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATED[]][[2 J 6 0 ODDDDJD• 2/1/2005 -2/28/2005 Status: FINAL Trade Date . . -. ,. .. ' ' ·a . Tran ' Cost Amount Net Gain/Loss Settle Date Base Price -1 .• ~ Type Description , 1.-. '. Reported Date Shares/Par ' Base -,. Base Base .. ... , . u, . . IS LEHMAN CAT 1 REPO REPO 02.380% 2/4/2005 100.0000 0.000 0.00 879.28 0.00 02/04/2005 DD 02/03 /05 2/4/2005 SEC ID: 994310102 2/4/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 02.370% 02/07/2005 DD 2/7/2005 100.0000 -11,300,000.000 -11,300,000.00 11,300,000.00 0.00 02/04/05 2/7/2005 SEC ID: 99431E555 BROKER: LEHMAN GOV!' SECS INC, NY 2 /7/2005 OCSF07511102: LIQUID OPER-PIMCO JS LEHMAN CAT 2 REPO 02.370% 02/07/2005 DD 2/7/2005 100.0000 0.000 0.00 2,231.75 0.00 02/04/05 2/7/2005 SEC ID: 99431E555 2/7/2005 BRO:KER: LEHMAN GOV!' SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 02.420% 02/08/2005 DD 2/8/2005 100.0000 -9 ,800,000.000 -9,800,000.00 9,800,000.00 0.00 02/07/05 2/8/2005 SEC ID: 994310113 2/8/2005 BROKER: LEHMAN GOV!' SECS INC, NY OCSF07511102 : LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 02.420% 02/08/2005 DD 2/8/2005 100.0000 0.000 0.00 658.78 0.00 02/07/05 2/8/2005 SEC ID: 994310113 2/8/2005 BROKER: LEHMAN GOV!' SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 02.390% 02/09/2005 DD 2/9/2005 100.0000 -8,000,000.000 -8,000,000.00 8,000,000.00 0.00 02/08/05 2/9/2005 SEC ID: 99431H269 2/9/2005 BROKER: LEHMAN GOV!' SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 02.390% 02/09/2005 DD 2/9/2005 100.0000 0.000 0.00 531.11 0.00 02/08/05 2/9/2005 SEC ID: 99431H269 2/9/2005 BROKER: LEHMAN GOV!' SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 23 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCS D-CONSOLIDATE DDlllli:2 'J 60 OD'JO•'J•• 2/1/2005 -2/28/2005 Status: FINAL Trade Date -· • ~. ,J .. Tran . ' ... . ' .. ,,. Cost -· Amount Net Gain/Loss Settle Date Base Price •· r-, ' , . Type Description Shares/Par •-.. Base Base ,. Base .. " Reported Date .. -::: ,, .. .. s CREDIT SUISSE FB REPO 02.375%02/09/2005 2/9/2005 100.0000 -6,600,000.000 -6,600,000.00 6,600,000.00 0.00 DD 02/08/05 2/9/2005 SEC ID: 99431H392 2/9/2005 BROKER: CREDlT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUlSSE FB REPO 02.375%02 /09/2005 2/9/2005 100.0000 0.000 0.00 435.42 0.00 DD 02/08/05 2/9/2005 SEC ID: 99131H392 2/9/2005 BROKER: CREDIT SUISSE FrRST BOSTON CORP, NY OCSF07511102 : LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 02.420% 02/10/2005 2/10/2005 100.0000 -6,500,000.000 -6,500,000.00 6,500,000.00 0.00 DD 02/09/05 2/10/2005 SEC ID: 99431J992 2/10/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-P!MCO IS CREDIT SUISSE FB REPO 02.420% 02/10/2005 2/10/2005 100.0000 0.000 0.00 436.94 0.00 DD 02/09/05 2/10/2005 SEC ID: 99431J992 2/10/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-P!MCO s LEHMAN CAT 2 REPO 02.450% 02/10/2005 DD 2/10/2005 100.0000 -8,000,000.000 -8,000,000.00 8,000,000.00 0.00 02/09/05 2/10/2005 SEC ID: 99431K023 2/10/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 02.450% 02/10/2005 DD 2/10/2005 100.0000 0.000 0.00 544.44 0.00 02/09/05 2/10/2005 SEC ID: 99431K023 2/10/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102 : LIQUID OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 24 @ Transaction Detail ReportID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATED:::m2 J 60 ••::JD•J •• 2/1/2005 -2/28/2005 Status: FINAL I' Trade Date ,. --" .. Tran ~ ,, Cost ' Amount Net Gain/Loss Settle Date Base Price ., Type Description · Reported Date Shares/Par Base Base ' Base . ~ ...... . . . s CREDIT SUISSE FB REPO 02.420% 02/11/2005 2/11/2005 100.0000 -6,000,000.000 -6,000,000.00 6,000,000.00 0.00 DD 02/10/05 2/11/2005 SEC ID: 994311146 2/11/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 02.420% 02/11/2005 2/11/2005 100.0000 0.000 0.00 403.33 0.00 DD 02/10/05 2/11/2005 SEC ID: 99431L146 2/11/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 1 REPO REPO 02.440% 2/11/2005 100.0000 -8,000,000.000 -8,000,000.00 8,000,000.00 0.00 02/11/2005 DD 02/10/05 2/11/2005 SEC ID: 99431L310 2/11/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 1 REPO REPO 02.440% 2/11/2005 100.0000 0.000 0.00 542.22 0.00 02/11/2005 DD 02/ 10 /05 2/11/2005 SEC ID: 99431L310 2/11/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 1 REPO REPO 02.470% 2/14/2005 100.0000 -10,000,000.000 -10,000,000.00 10,000,000.00 0.00 02/14/2005 DD 02/ 11 /05 2/14/2005 SEC ID: 99431M888 2/14/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 1 REPO REPO 02.470% 2/14/2005 100.0000 0.000 0.00 2,058.33 0.00 02/14/2005 DD 02/11/05 2/14/2005 SEC ID: 99431M888 2/14/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 02.490% 02/15/2005 DD 2/15/2005 100.0000 -10,000,000.000 -10,000,000.00 10,000,000.00 0.00 02/ 14/05 2/15/2005 SEC io: 99431?279 2/15/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 25 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJIIT2 • 60 ••••DODD 2/1/2005 -2/28/2005 Status: FINAL Trade Date .. . 1 . . Tran .:1 Cost . Amount , Net Gain/Loss -' .. ' Settle Date Base Price •· ,:; . .. -· ' Type Description . . . •• i"' ,; ;r ,i -Reported Date Shares/Par · f".· ; r_! Base Base Base ,, . .. IS LEHMAN CAT 2 REPO 02.490% 02/15/2005 DD 2/15/2005 100.0000 0.000 0.00 691.67 0.00 02/14/05 2/15/2005 SEC fD: 99431P279 2/15/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 02.500% 02/16/2005 2/16/2005 100.0000 -11,300,000.000 -11,300,000.00 11,300,000.00 0.00 DD 02/15/05 2/16/2005 SEC.ID: 99431Q608 2/16/2005 BROKER; CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 02.500%02/ 16/2005 2/16/2005 100.0000 0.000 0.00 784.72 0.00 DD 02/15/05 2/16/2005 SEC ID: 99431 Q608 2/16/2005 BROKER; CREDIT SUJSSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 02.400%02/ 17 /2005 2/17/2005 100.0000 -7,600,000.000 -7,600,000.00 7,600,000.00 0.00 DD 02/16/05 2/17/2005 SEC ID: 99431R887 2/17/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO IS CREDIT SUISSE FB REPO 02.400% 02 /17/2005 2/17/2005 100.0000 0.000 0.00 506.67 0.00 DD 02/16/05 2/17/2005 SEC lD: 99431R887 2/17/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONGTERM OPER-PIMCO s CREDIT SUISSE FB REPO 02.440% 02/17/2005 2/17/2005 100.0000 -11,300,000.000 -11,300,000.00 11,300,000.00 0.00 DD 02 /16/05 2/17/2005 SEC lD: 99431R952 2/17/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9: 16:40AM PST Wor-kbench * Actual Settle Date 26 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCS D-CO NS O LI DATE DJIID2 0 60 ••000000 2/1/2005 -2/28/2005 Status: FINAL ' Trade Date " -. •. . -I .. •·1. 1 ·~ f ::- ., Tran Cost ' ,. Amount Net Gain/Loss Settle Date Base Price " . Type Description "l I,_ Reported Date Shares/Par • Base ., Base e Base IS CREDIT SUISSE FB REPO 02.440%02/17 /2005 2/17/2005 100.0000 0.000 0.00 765.89 0.00 DD 02/16/05 2/17/2005 SEC ID: 9943lR952 2/17/2005 BROKE:R: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s CREDIT SUISSE FB REPO 02.460% 02/18/2005 2/18/2005 100.0000 -9,600,000.000 -9,600,000.00 9,600,000.00 0.00 DD02/17/05 2/18/2005 SEC ID: 99431S653 2/18/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 02.460% 02/18/2005 2/18/2005 100.0000 0.000 0.00 656.00 0.00 DD02/17/05 2/18/2005 SEC ID: 99431S653 2/18/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 1 REPO REPO 02.410% 2/22/2005 100.0000 -13,000,000.000 -13,000,000.00 13,000,000.00 0.00 02/22/2005 DD 02/18/05 2/22/2005 SEC ID: 99431 U997 2/22/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 1 REPO REPO 02.410% 2/22/2005 100.0000 0.000 0.00 3,481.11 0.00 02/22/2005 DD 02/ 18 /05 2/22/2005 SEC ID: 994310997 2/22/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 02.440% 02/23/2005 DD 2/23/2005 100.0000 -13,000,000.000 -13,000,000.00 13,000,000.00 0.00 02/22/05 2/23/2005 SEC ID: 99431 W068 2/23/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 02.440% 02/23/2005 DD 2/23/2005 100.0000 0.000 0.00 881.11 0.00 02/22/05 2/23/2005 SEC ID: 99431 W068 2/23/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 27 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCS D-CONSOLI DATE DJIIDC2 J 60 ••J ••J DO 2/1/2005 -2/28/2005 Status: FINAL -.. ·:. ~ ' j : ! Trade Date -.. '. . ' l-.. r1 l ~I i._ .... t ' J• . . Tran ,. ' ! ,.1. -~. ' .' .. :• •• •. t_ :~ . Cost Amount ···· Net Gain/Loss -Settle Date Base Price --., fC'' ,, Type Description Reported Date Shares/Par ll -• Base Base Base - s CREDIT SUISSE FB REPO 02.480% 02/24/2005 2/24/2005 100.0000 -14,400,000.000 -14,400,000.00 14,400,000.00 0.00 DD 02/23/05 2/24/2005 SEC ID: 99431X827 2/24/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF0751 l 102 : LIQUID OPER-PIMCO IS CREDIT SUISSE FB REPO 02.480% 02/24/2005 2/24/2005 100.0000 0.000 0.00 992.00 0.00 DD 02/23/05 2/24/2005 SEC ID: 99431X827 2/24/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 1 REPO REPO 02.540% 2/25/2005 100.0000 -13,000,000.000 -13,000,000.00 13,000,000.00 0.00 02/25/2005 DD 02/24 /05 2/25/2005 SEC ID: 994312475 2/25/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102 : LIQUID OPER-PIMCO IS LEHMAN CAT 1 REPO REPO 02.540% 2/25/2005 100.0000 0.000 0.00 917.22 0.00 02/25/2005 DD 02/24 /05 2/25/2005 SEC ID: 994312475 2/25/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s LEHMAN CAT 2 REPO 02.520% 02/28/2005 DD 2/28/2005 100.0000 -13,000,000.000 -13,000,000.00 13,000,000.00 0.00 02/25/05 2/28/2005 SEC ID: 99432B089 2/28/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO IS LEHMAN CAT 2 REPO 02.520% 02/28/2005 DD 2/28/2005 100.0000 0.000 0.00 2,730.00 0.00 02/25/05 2/28/2005 SEC ID: 994328089 2/28/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07511102: LIQUID OPER-PIMCO s DREYFUS TREASURY CASH MGMT 2/1/2005 1.0000 -1,013,609.510 -1,013,609.51 1,013,609.51 0.00 SEC ID: 996085247 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/1/2005 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 28 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DODil!:2 J 60 ••::moo•• 2/1/2005 -2/28/2005 Status: FINAL ' Trade Date '. --:· Jo ,_. . Tran -,' . ':...... Cost Amount · Net Gain/Loss Settle Date Base Price C . 1:., ~ . ~· Type Description Reported Date Shares/Par . ~ Base Base Base . s DREYFUS TREA'>URY CASH MGMT 2/2/2005 1.0000 -673,368.060 -673,368.06 673,368.06 0.00 SEC ID: 996085247 2/2/2005 OCSF07522202: LONG TERM OPER-P!MCO 2/2/2005 s DREYFUS TREA'>URY CASH MGMT 2/10/2005 1.0000 -1,287,138.620 -1,287,138.62 1,287,138.62 0.00 SEC ID: 996085247 2/10/2005 OCSF07511102 : LIQUID OPER-PIMCO 2/10/2005 s DREYFUS TREA'>URY CASH MGMT 2/16/2005 1.0000 -284,565.200 -284,565.20 284,565.20 0.00 SEC JD : 996085247 2/16/2005 OCSF07522202: LONG TERM OPER-PJMCO 2/16/2005 s DREYFUS TREA'>URY CASH MGMT 2/17/2005 1.0000 -1,290,289.580 -1,290,289.58 1,290,289.58 0.00 SEC ID: 996085247 2/17/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/17/2005 s DREYFUS TREA'>URY CASH MGMT 2/22/2005 1.0000 -12,996,425.560 -12,996,425.56 12,996,425.56 0.00 SEC ID: 996085247 2/22/2005 OCSF07511102: LIQUID OPER-PIMCO 2/22/2005 s BSDT-LATE MONEY DEPOSIT ACCT 2/3/2005 1.0000 -2,224.510 -2,224.51 2,224.51 0.00 SEC ID: 996087094 2/3/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/3/2005 s BSDT-LATE MONEY DEPOSIT ACCT 2/3/2005 1.0000 -3,766.310 -3,766.31 3,766.31 0.00 SEC JD: 996087094 2/3/2005 OCSF07511102: LIQUID OPER-PIMCO 2/3/2005 TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: -295,251,387.350 -294,838,658.18 294,906,649.35 79.09 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 29 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJ[][][2CJ 60 •DDO•CJ•D 2/1/2005 -2/28/2005 Status: FINAL Trade Date ,, ,, Tran . .. , Cost Amount Net Gain/Loss •., Settle Date Base Price , '· I' · '· . '• )t' Type Description . " Reported Date Shares/Par ~ -/+; --~ •. Base -Base Base . ~ TOTAL CASH & CASH EQUIVALENTS BASE: -295,251,387.350 -294,838,658.18 294,906,649.35 79.09 FIXED INCOME SECURITIES U.S. DOLLAR s COMMIT TO PUR FNMA SF MTG 5 .000% 2/11/2005 101.7578 -500,000.000 -507,265.62 508,789.06 1,523.44 02/01/2020 DD 02/01 /05 2/15/2005 SEC ID: 01F050429 2/11/2005 OCSF07522202: LONG TERM OPER-PIMCO s COMMIT TO PUR FNMA SF MTG 5.500% 2/8/2005 102.0820 -1,000,000.000 -1,011,943.36 1,020,820.31 8,876.95 02/01/2035 DD 02/01 /05 2/10/2005 SEC ID: 01F052623 2/8/2005 BROKER: LEHMAN GOVT SECS INC, NY OCSF07522202: LONG TERM OPER-PIMCO s COMMIT TO PUR FNMA SF MTG 5.500% 2/8/2005 102.1016 -3,000,000.000 -3,035,830.07 3,063,046.87 27,216.80 02/01/2035 DD 02/01 /05 2/10/2005 SEC ID: 01F052623 2/8/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONG TERM OPER-PIMCO s US TREASURY NOTES 2.875% 11/30/2006 DD 2/14/2005 99.2500 -20,800,000.000 -20,717,574.59 20,644,000.00 -73,574.59 11/30/04 2/15/2005 SEC ID: 912828DD9 2/14/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF07522202: LONG TERM OPER-PIMCO IS US TREASURY NOTES 2.875% 11/30/2006 DD 2/14/2005 99.2500 0.000 0.00 126,500.00 0.00 11/ 30/04 2/15/2005 SEC ID: 912828DD9 2/14/2005 BROKER: GOLDMAN SACHS & CO, NY OCSF0752 2202: LONG TERM OPER-PIMCO s US TREASURY NOTES 3.500% 12/15/2009 DD 2/14/2005 99.1875 -14,000,000.000 -13,870,390.17 13,886,250.00 15,859.83 12/ 15/04 2/15/2005 SEC ID: 912828DE7 2/14/2005 BRGKER: CRED1T SUISSE FIRST BOSTON CORP, NY OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 30 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJ!IlI2 u 60 DD•••••• 2/1/2005 -2/28/2005 Status: FINAL . . .. ' ' . Trade Date , . 'i .. -., u, • ~ f '· .,. " ~ ' ,i ,,[, ~ . .. ', Tran .. ~ .. Cost · Amount Net Gain/Loss Settle Date Base Price . ' Type Description ~ "1..:,. Reported Date Shares/Par -C ... t,..!. Base Base Base lJ~ -r 't1.,. . • IS US TREASURY NOTES 3.500% 12/15/2009 DD 2/14/2005 99.1875 0.000 0.00 83,461.54 0.00 12/15/04 2/15/2005 SEC ID: 912828DE7 2/14/2005 BROKER: CREDIT SUISSE FIRST BOSTON CORP,NY OCSF07522202: LONG TERM OPER-PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: -39,300,000.000 -39,143,003.81 39,332,867.78 -20,097.57 TOTAL FIXED INCOME SECURITIES BASE: -39,300,000.000 -39,143,003.81 39,332,867.78 -20,097.57 TOTAL SALES BASE: -334,551,387.350 -333,981,661.99 334,239,517.13 -20,018.48 PRINCIPAL PAYMENTS FIXED INCOME SECURITIES U.S. DOLLAR PD WMP/HUNTOON PAIGE #000-11150 7.500% 2/1/2005 100.0000 -848.180 -829.76 848.18 18.42 12/01/2030 DD 10/21/99 2/1/2005 SEC ID: 302998GE3 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/28/2005 * PDC FHLMCMULTICLASS MTG SERE3 A VAR RT 1/1/2005 100.0000 18,934.700 18,954.87 -18,934.70 20.17 08/15/2032 DD 12/01 /97 1/1/2005 SEC ID: 3133TCE95 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * PD FHLMC MULTICLASS MTG SER E3 A VAR RT 1/1/2005 100.0000 -18,935.250 -18,955.42 18,935.25 -20.17 08/15/2032 DD 12/01 /97 1/1/2005 SEC ID: 3133TCE95 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * PD FHLMC MULTICLASS MTG SER E3 A VAR RT 2/1/2005 100.0000 -17,276.450 -17,294.86 17,276.45 -18.41 08/15/2032 DD 12/01 /97 2/1/2005 SEC ID: 3133TCE95 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9:16:40AM Workbench PST * Actual Settle Date 31 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONS OLI DATE DJllll!:2 CJ 60 ODCJO••DD 2/1/2005 -2/28/2005 Status: FINAL ' . 1: i .. Trade Date i' r' -1 -; r ~ " . ,, . I .. ~ ... Tran .. .. ,, ' Cost • Amount Net Gain/Loss Settle Date Base Price " = . ''·1: -_,. l" . .. Type Description · 1 ,-•' -Reported Date Shares/Par 1 .• 'I Base Base Base ... t f ' PD FHLMC GROUP #78-6064 6.384% 01/01/2028 2/1/2005 100.0000 -2,287.000 -2,231.25 2,287.00 55.75 DD 12/01/97 2/1/2005 SEC ID: 31348SWZ3 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO PD FNMA POOL #0254510 5.000% 11/01/2017 2/1/2005 100.0000 -10,190.310 -10,496.02 10,190.31 -305.71 DD 10/01/02 2/1/2005 SEC ID: 31371KVB4 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0254631 5.000% 02/01/2018 2/1/2005 100.0000 -2,199.620 -2,265.61 2,199.62 -65.99 DD 01/01/03 2/1/2005 SEC ID: 31371KY47 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0254760 5.000% 06/01/2018 2/1/2005 100.0000 -2,064.430 -2,126.36 2,064.43 -61.93 DD 05/01/03 2/1/2005 SEC ID: 31371KSV9 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0254866 5.000% 09/01/2018 2/1/2005 100.0000 -789.390 -813.07 789.39 -23.68 DD 08/01/03 2/1/2005 SEC ID: 31371LCB3 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0254953 5.000% 11/01/2018 2/1/2005 100.0000 -5,247.820 -5,315.06 5,247.82 -67.24 DD 10/01/03 2/1/2005 SEC ID: 31371LE21 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0254987 5.000% 12/01/2018 2/1/2005 100.0000 -11,264.100 -11,408.42 11,264.10 -144.32 DD 11 /01/03 2/1/2005 SEC ID: 31371LF46 2/1/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL#0323980 6.000%04/01/2014 2/1/2005 100.0000 -3,855.350 -4,025.23 3,855.35 -169.88 DD 09/01/99 2/1/2005 SEC ID: 31374T2MO 2/1/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 32 - @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLJDATED::nm? J 60 ••::JD•JDD 2/1/2005 -2/28/2005 Status: FINAL Trade Date " C • ~,~1 " . -;1.., .. .. :;. " J .. .. --Tran . ,, ' r .• ,, Cost .. Amount Net Gain/Loss . ,, . Settle Date Base Price " •'1 .. I ·,\ Type Description I ' -Reported Date Shares/Par .. ~Jo,-. ·~ Base 111 '. Base Base <, PD FNMA POOL #0357328 5.000% 01/01/2018 2/1/2005 100.0000 -421.520 -434.17 421.52 -12.65 DD 01/01/03 2/1/2005 SEC ID: 31376J4M8 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0357430 5.000% 09/01/2018 2/1/2005 100.0000 -20,834.220 -21,068.60 20,834.22 -234.38 DD 09/01/03 2/1/2005 SEC ID: 31376KA71 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0456482 6.000% 02/01/2014 2/1/2005 100.0000 -381.710 -398.53 381.71 -16.82 DD 02/01/99 2/1/2005 SEC ID: 31381CCT2 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL#0509649 6.000%09/01/2014 2/1/2005 100.0000 -813.460 -849.30 813.46 -35.84 DD 09/01/99 2/1/2005 SEC ID: 31383QEWO 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0535451 6.000% 06/01/2015 2/1/2005 100.0000 -2,704.820 -2,824.00 2,704.82 -119.18 DD 07 /01/00 2/1/2005 SEC ID: 31384 VZQ8 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0555363 5.000%04/01/2018 2/1/2005 100.0000 -4,264.510 -4,392.45 4,264.51 -127.94 DD 03/01/03 2/1/2005 SEC ID: 31385W5Yl 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0555453 5.000% 05/01/2018 2/1/2005 100.0000 -603.970 -611.71 603.97 -7.74 DD 04/01/03 2/1/2005 SEC ID: 31385XBW6 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0555545 5.000% 06/01/2018 2/1/2005 100.0000 -3,786.870 -3,900.48 3,786.87 -113.61 DD 05/01/03 2/1/2005 SEC ID: 31385XES2 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM Workbench PST * Actual Settle Date 33 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJil!Il? J 6J ••JD•••• 2/1/2005 -2/28/2005 Status: FINAL Trade Date . -.. , . -J . ' . . ~~ . , ,, Tran r-, ..... f .~:I'--,.. ~ ... 1 ... ~: ... -: ,-Cost Amount Net Gain/Loss . Settle Date Base Price '-~··1 ~ l °"' .• • 11r, ~ • .,,.; l i ., Type Description ~,-M• IJ .. •' . < .. .• -__ Reported Date Shares/Par Base Base Base •" . '. C . PD FNMA POOL #0555621 5.000% 07/01/2018 2/1/2005 100.0000 -14,918.250 -15,086.08 14,918.25 -167.83 DD 06/01/03 2/1/2005 SEC ID: 31385XG68 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0681309 5.000% 02/01/2018 2/1/2005 100.0000 -4,918.630 -5,066.19 4,918.63 -147.56 DD 02/01/03 2/1/2005 SEC ID: 31391 Y3S4 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0681334 5.000% 02/01/2018 2/1/2005 100.0000 -972.680 -1,001.86 972.68 -29.18 DD 01 /01/03 2/1/2005 SEC ID: 31391 Y4Tl 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA GTD REMJC P /T 02-76 PD 5.000% 2/1/2005 100.0000 -106,726.560 -108,861.09 106,726.56 -2,134.53 08/25/2022 DD 10/01 /02 2/1/2005 SEC ID: 31392FKF3 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0684908 5.000% 06/01/2018 2/1/2005 100.0000 -6,848.130 -6,935.87 6,848.13 -87.74 DD 05/01/03 2/1/2005 SEC ID: 31400D3Rl 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0685200 5.000% 03/01/2018 2/1/2005 100.0000 -1,650.940 -1,672.09 1,650.94 -21.15 DD 03/01/03 2/1/2005 SEC ID: 31400EGH7 2/1/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0685665 5.000% 02/01/2018 2/1/2005 100.0000 -620.950 -639.58 620.95 -18.63 DD 02/01/03 2/1/2005 SEC ID: 31400EW22 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0686318 5.000% 03/01/2018 2/1/2005 100.0000 -1,302.200 -1,341.27 1,302.20 -39.07 DD 03/01/03 2/1/2005 SEC ID: 31400FPB7 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 34 . Transaction Detail @ Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDJill:2 D 6• ••J ••:::J•• 2/1/2005-2/28/2005 Status: FINAL . Trade Date ' Tran C° 1t I • • .. ' _, Cost Amount Net Gain/Loss ' -Settle Date Base Price . _,.. ; ' Type Description Shares/Par Base ,. Base Base ,.· Reported Date ti -.. : 0 PD FNMA POOL #0688739 5.000% 06/01/2018 2/1/2005 100.0000 -2,648.620 -2,728.08 2,648.62 -79.46 DD 06/01/03 2/1/2005 SEC ID: 31400JEL9 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0689859 5.000% 05/01/2018 2/1/2005 100.0000 -393.420 -398.46 393.42 -5.04 DD 05/01/03 2/1/2005 SEC ID: 31400KMG8 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0693834 5.000% 03/01/2018 2/1/2005 100.0000 -9,691.320 -9,982.06 9,691.32 -290.74 DD 03/01/03 2/1/2005 SEC ID: 31400PY74 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0695852 5.000% 05/01/2018 2/1/2005 100.0000 -2,690.630 -2,771.35 2,690.63 -80.72 DD 05/01/03 2/1/2005 SEC ID: 31400SBVO 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0695889 5.000% 05/01/2018 2/1/2005 100.0000 -4,604.890 -4,743.04 4,604.89 -138.15 DD 05/01/03 2/1/2005 SEC ID: 31400SC23 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0697026 5.000% 05/01/2018 2/1/2005 100.0000 -259.790 -267.58 259.79 -7.79 DD 04/01/03 2/1/2005 SEC ID: 31400TLF2 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0702210 5.000% 05 /01/2018 2/1/2005 100.0000 -2,138.090 -2,202.23 2,138.09 -64.14 DD 05/01/03 2/1/2005 SEC ID: 31401ADP9 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0702328 5.000% 05/01/2018 2/1/2005 100.0000 -1,705.890 -1,727.75 1,705.89 -21.86 DD 04/01/03 2/1/2005 SEC ID: 31401AHD2 2/1/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 35 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATED:m:2 D 60 •••••cl•• 2/1/2005 -2/28/2005 Status: FINAL Trade Date ' • ~ 1, :_ t~ \. , .I ., .,, . Tran [) I Cost ,, Amount Net Gain/Loss . Settle Date Base Price ,, (" ..:~ .• i L .. -Type Description . Reported Date Shares/Par J ~-, Base . ~ Base Base ' ' •·: .. " ! --··· 1 PD FNMA POOL#0709148 5.000%06/01/2018 2/1/2005 100.0000 -1,964.490 -2,023.42 1,964.49 -58.93 DD 06/01/03 2/1/2005 SEC ID: 31401HZM7 2/1/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0709360 5.000% 07/01/2018 2/1/2005 100.0000 -8,246.560 -8,352.22 8,246.56 -105.66 DD 06/01/03 2/1/2005 SEC ID: 31401JB56 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0709826 5.000% 06/01/2018 2/1/2005 100.0000 -1,055.400 -1,068.92 1,055.40 -13.52 DD 06/01/03 2/1/2005 SEC ID: 31401JSP4 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0709917 5.000% 06/01/2018 2/1/2005 100.0000 -2,195.410 -2,223.54 2,195.41 -28.13 DD 06/01/03 2/1/2005 SEC ID: 31401JVJ4 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0709963 5.000% 06/01/2018 2/1/2005 100.0000 -77.150 -78.14 77.15 -0.99 DD 06/01/03 2/1/2005 SEC ID: 31401JWYO 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL#0710235 5.000%06/01/2018 2/1/2005 100.0000 -13,997.720 -14,417.65 13,997.72 -419.93 DD 06/01/03 2/1/2005 SEC ID: 31401KBC8 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0713344 5.000% 06/01/2018 2/1/2005 100.0000 -625.490 -644.25 625.49 -18.76 DD 06/01/03 2/1/2005 SEC ID: 31401NP52 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0713365 5.000% 07/01/2018 2/1/2005 100.0000 -8,479.630 -8,588.28 8,479.63 -108.65 DD 07 /01/03 2/1/2005 SEC ID: 31401 NQS 1 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM Workbench PST * Actual Settle Date 36 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJllll!2 J 60 •mm•••• 2/1/2005 -2/28/2005 Status: FINAL . ,. 11 ' Trade Date .. r. . ""1 •• OL . .. . ,. ~ i I ,. ~ '~ ' -( ,: t .. Tran . I Cost Amount I Net Gain/Loss Settle Date Base Price , -. Type Description I Reported Date Shares/Par Base Base Base ~' : " r., ~ " . ,. PD FNMA POOL#0720319 5.000%07/01/2018 2/1/2005 100.0000 -11,051.030 -11,192.62 11,051.03 -141.59 DD 07 /01/03 2/1/2005 SEC ID: 31401WG45 2/1/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0720369 5.000% 06/01/2018 2/1/2005 100.0000 -9,887.680 -10,184.31 9,887.68 -296.63 DD 06/01/03 2/1/2005 SEC ID: 31401WJNO 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0721629 5.000% 07/01/2018 2/1/2005 100.0000 -3,793.300 -3,907.10 3,793.30 -113.80 DD 06/01/03 2/1/2005 SEC ID: 31401XVW4 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0723487 5.000% 06/01/2018 2/1/2005 100.0000 -984.220 -995.29 984.22 -11.07 DD 06/01/03 2/1/2005 SEC ID: 31402AXQ4 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0729601 5.000% 07/01/2018 2/1/2005 100.0000 -1,918.790 -1,943.37 1,918.79 -24.58 DD 07 /01/03 2/1/2005 SEC ID: 31402HRW3 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0732873 5.000% 11/01/2018 2/1/2005 100.0000 -136.720 -138.47 136.72 -1.75 DD 10/01/03 2/1/2005 SEC ID: 31402MFN5 2/1/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/25/2005 * PD FNMA POOL#0737130 5.000% 10/01/2018 2/1/2005 100.0000 -3,275.630 -3,317.60 3,275.63 -41.97 DD 10/01/03 2/1/2005 SEC ID: 31402S4P9 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0738211 5.000% 10/01/2018 2/1/2005 100.0000 -5,418.940 -5,488.37 5,418.94 -69.43 DD 10/01/03 2/1/2005 SEC ID: 31402UDQ2 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM Workbench PST * Actual Settle Date 37 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD--CONSOLIDATEDJIID!2 J 60 OOJOOJOO 2/1/2005 -2/28/2005 Status: FINAL Trade Date . ~ ,, . ' r' • 1:, ...... ) :: r ' :,_, !!'' (" l .. } Tran -, Settle Date Base Price '~ •• J ~ /· -i Cost Amount Net Gain/Loss Type Description 'l ~-I· ., Reported Date Shares/Par Base I'. ; , Base ' Base ., PD FNMA POOL #0738487 5.000% 10/01/2018 2/1/2005 100.0000 -2,022.960 -2,048.88 2,022.96 -25.92 DD 10/01/03 2/1/2005 SEC ID: 31402UNC2 2/1/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0740471 5.000% 10/01/2018 2/1/2005 100.0000 -2,865.450 -2,902.16 2,865.45 -36.71 DD 10/01/03 2/1/2005 SEC ID: 31402Wf40 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0740748 5.000% 10/01/2018 2/1/2005 100.0000 -3,722.460 -3,770.15 3,722.46 -47.69 DD 11 /01/03 2/1/2005 SEC ID: 31402W5H7 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0743868 5.000% 11/01/2018 2/1/2005 100.0000 -501.570 -508.00 501.57 -6.43 DD 10/01/03 2/1/2005 SEC ID: 31403BMR1 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0744008 5.000% 07/01/2018 2/1/2005 100.0000 -4,604.550 -4,663.55 4,604.55 -59.00 DD 09/01/03 2/1/2005 SEC ID: 31403BR54 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0744316 5.000% 09/01/2018 2/1/2005 100.0000 -1,866.470 -1,890.38 1,866.47 -23.91 DD 09/01/03 2/1/2005 SEC ID: 31403B324 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0747914 5.000% 11/01/2018 2/1/2005 100.0000 -10,568.760 -10,704.17 10,568.76 -135.41 DD 11/01/03 2/1/2005 SEC ID: 31403F3XO 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0748400 5.000% 08/01/2018 2/1/2005 100.0000 -4,841.650 -4,903.68 4,841.65 -62.03 DD 09/01/03 2/1/2005 SEC ID: 31403GNR9 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 38 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DC[]]][2 J 6D •••••••• 2/1/2005 -2/28/2005 Status: FINAL 'I" Trade Date -. l''• .. -~ -" ,: .. r ,, . I' Tran , .. ' ' Cost Amount Net Gain/Loss . " Settle Date Base Price t. . ,, ' ~ Type Description . Reported Date Shares/Pat J ,f . ' .. Base .. , ,., Base Base PD FNMA POOL #0748899 5.000% 12/01/2018 2/1/2005 100.0000 -27,168.740 -27,516.84 27,168.74 -348.10 DD 11 /01/03 2/1/2005 SEC ID: 314030710 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0750377 5.000% 11/01/2018 2/1/2005 100.0000 -40,649.840 -41,170.67 40,649.84 -520.83 DD 11/01/03 2/1/2005 SEC ID: 31403JUA2 2/1/2005 OCSF07522202: LONG TERM OPER -PIMCO 2/25/2005 * PD FNMA POOL #0750380 5.000% 11/01/2018 2/1/2005 100.0000 -34,034.070 -34,470.13 34,034.07 -436.06 DD 11/01/03 2/1/2005 SEC ID: 31403JUD6 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL#0750445 5.000% 11/01/2018 2/1/2005 100.0000 -693.960 -702.85 693.96 -8.89 DD 11 /01/03 2/1/2005 SEC ID: 31403JWE2 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL#0751960 5.000% 12/01/2018 2/1/2005 100.0000 -16,608.010 -16,820.80 16,608.01 -212.79 DD 11/01/03 2/1/2005 SEC ID: 31403LMH1 2/1/2005 OCSF07522202: LONG TERM OPER-PJMCO 2/25/2005 * PD FNMA POOL #0753425 5.000% 11/01/2018 2/1/2005 100.0000 -13,757.130 -13,916.20 13,757.13 -159.07 DD 11 /01/03 2/1/2005 SEC ID: 31403NA23 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0755165 5.000% 12 /01/2018 2/1/2005 100.0000 -2,698.060 -2,732.63 2,698.06 -34.57 DD 11/01/03 2/1/2005 SEC ID: 31403Q6A3 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * PD FNMA POOL #0756372 5.000% 11/01/2018 2/1/2005 100.0000 -4,185.810 -4,234.21 4,185.81 -48.40 DD 11 /01/03 2/1/2005 SEC ID: 31403SJR8 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 39 @ Transaction Detail ReportID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DOl]][2J 60 •••••••• 2/1/2005 -2/28/2005 Status: FINAL Trade Date -I'. . -. .-. . ' 't ' '. ,_ 1· Tran ~ --. . . . ~ .. ~-Cost Amount Net Gain/Loss ,: Settle Date Base Price Type Description Reported Date Shares/Par ,, .. Base --Base Base . ( ... -. PD GNMA POOL #0421389 6. 500% 04/15/2026 2/1/2005 100.0000 -288.180 -302.45 288.18 -14.27 DD 04/01/96 2/1/2005 SEC ID: 36206 UC23 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * PD GNMA POOL #0449851 6.500% 01/15/2028 2/1/2005 100.0000 -3,357.020 -3,523.30 3,357.02 -166.28 DD 01/01/98 2/1/2005 SEC ID: 36208FWLO 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * PD GNMA POOL #0466845 6. 500% 06/15/2028 2/1/2005 100.0000 -47.080 -49.41 47.08 -2.33 DD 06/01/98 2/1/2005 SEC ID: 36209BTA6 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * PD GNMA POOL #0468052 6. 500% 07/15/2028 2/1/2005 100.0000 -216.340 -227.06 216.34 -10.72 DD 07 /01/98 2/1/2005 SEC ID: 36209C5M4 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * PD GNMA POOL #0476041 6.500% 06/15/2028 2/1/2005 100.0000 -253.770 -265.94 253.77 -12.17 DD 06/01/98 2/1/2005 SEC ID: 36209MZE7 2/1/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/15/2005 * PD GNMA POOL#0478626 6.500%01/15/2029 2/1/2005 100.0000 -187.140 -196.12 187.14 -8.98 DD 01/01/99 2/1/2005 SEC ID: 36209QVT9 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * PD GNMA POOL#0480598 6.500% 10/15/2028 2/1/2005 100.0000 -39.470 -41.36 39.47 -1.89 DD 10/01/98 2/1/2005 SEC ID: 36209S3F6 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * PD GNMA POOL#0512235 6.500% 11/15/2029 2/1/2005 100.0000 -12.660 -13.29 12.66 -0.63 DD 11/01/99 2/1/2005 SEC ID: 36211 GBC6 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 40 ' @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USO OCSD-CONSOLI DATE Dcm20 60 ODOOOCJOD 2/1/2005 -2/28/2005 Status: FINAL Trade Date . I t: ~ ,, '' j ' l ., -~· ._ -I ~' Cost .. Amount · Net Gain/Loss Tran Settle Date Base Price " . ' .. ,.· . ,·. Type Description Reported Date Shares/Par , ' _ · Base • L~• Base Base I .. ' .. ' PD GNMA POOL #0514326 6.500% 07/15/2029 2/1/2005 100.0000 -8,005.710 -8,389.73 8,005.71 -384.02 DD 07 /01/99 2/1/2005 SEC ID: 36211JLF2 2/1/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/15/2005 * PD GNMA II POOL #0080023 VAR RT 12/20/2026 2/1/2005 100.0000 -3,523.070 -3,581.42 3,523.07 -58.35 DD 12/01/96 2/1/2005 SEC ID: 36225CAZ9 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/22/2005 * PD GNMA II POOL #080088M 7.375% 06/20/2027 2/1/2005 100.0000 -1,352.120 -1,381.70 1,352.12 -29.58 DD 06/01/97 2/1/2005 SEC ID: 36225CC20 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/22/2005 * PD GNMA II POOL #0080395 VAR RT 04/20/2030 2/1/2005 100.0000 -4,518.910 -4 ,477.96 4,518.91 40.95 DD 04/01/00 2/1/2005 SEC ID: 36225CNM4 2/1/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/22/2005 * PD GNMA II POOL #080408X VAR RT 05/20/2030 2/1/2005 100.0000 -36,593.790 -36,222.13 36,593.79 371.66 DD 05/01/00 2/1/2005 SEC ID: 36225CN28 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/22/2005 * PD GNMA II POOL #0080965 VAR RT 07/20/2034 2/1/2005 100.0000 -12,023.130 -12,015.62 12,023.13 7.51 DD 07 /01/04 2/1/2005 SEC ID: 36225DCB8 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/22/2005 * PD GNMA GTD REMIC TR 2000-9 FH VAR RT 2/16/2005 100.0000 -14,231.320 -14,231.32 14,231.32 0.00 02/16/2030 2/16/2005 SEC ID: 3837H4NX9 2/16/2005 OCSF07522202: LONG TERM OPER-PIMCO PD RESIDENTIAL ASSET 03-RSl l AIIB VAR RT 2/25/2005 100.0000 -26,608.430 -26,608.43 26,608.43 0.00 12/25/2033 DD 12/30/03 2/25/2005 SEC ID: 760985K83 2/25/2005 OCSF0752 2202 : LONG TERM OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 41 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDJl][][2 J 60 OO J ••J •• 2/1/2005-2/28/2005 Status: FINAL Trade Date -r ,~. .. 1~·· ",'. .... ,., . Tran ,· '. ~ ·, Cost ' Amount Net Gain/Loss -Settle Date Base Price • ... I~ I"• l Type Description ~ ~-Reported Date Shares/Par ,, ,:" .. -f Base ,, Base ·" Base PD SBA OTD PARTN CTFS SBlC-PS 01 6.640% 2/1/2005 100.0000 -137,939.550 -137,939.55 137,939.55 0.00 02/10/2011 DD 02/21 /01 2/1/2005 SEC ID: 8316410D4 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/10/2005 * TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: -745,020.610 -753,695.65 745,020.61 -8,675.04 TOTAL FIXED INCOME SECURITIES BASE: -745,020.610 -753,695.65 745,020.61 -8,675.04 TOTAL PRINCIPAL PAYMENTS BASE: -745,020.610 -753,695.65 745,020.61 -8,675.04 MATURITIES CASH & CASH EQUIVALENTS U.S. DOLLAR MT FEDERAL HOME LN BK CONS DISC MAT 2/2/2005 100.0000 -1,600,000.000 -1,593,586.67 1,593,586.67 0.00 02/02/2005 2/2/2005 SEC ID: 313385BJ4 2/2/2005 OCSF07511102: LIQUID OPER-PIMCO MT FEDERAL HOME LN BK CONS DISC N MAT 2/16/2005 100.0000 -7,300,000.000 -7,299,486.97 7,299,486.97 0.00 02/16/2005 2/16/2005 SEC ID: 313385BY1 2/16/2005 OCSF07522202: LONG TERM OPER-PIMCO MT FEDERAL HOME LN BK CONS DISC MAT 2/18/2005 100.0000 -6,000,000.000 -5,966,026.67 5,966,026.67 0.00 02/18/2005 2/18/2005 SEC ID: 313385CA2 2/18/2005 OCSF07511102: LIQUID OPER-PIMCO MT FEDERAL HOME LN BK CONS DISC N MAT 2/22/2005 100.0000 -1,400,000.000 -1,399,631.33 1,399,631.33 0.00 02/22/2005 2/22/2005 SEC ID: 313385CE4 2/22/2005 OCSF07511102 : LIQUID OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 42 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLI DATE D::m.2 J 60 o•J ••'.J•• 2/1/2005 -2/28/2005 Status: FINAL Trade Date ' . -~-· . -:. II_ t: t ~ Tran Settle Date Base Price .. Cost --Amount Net Gain/Loss -l Type Description Reported Date Shares/Par . Base , Base .. Base r:'1.'r MT FEDERAL HOME LN BK CONS DISC MAT 2/23/2005 100.0000 -1 ,400,000.000 -1,399,906.67 1,399,906.67 0.00 02/23/2005 2/23/2005 SEC ID: 313385CF1 2/23/2005 OCSF07511102: LIQUID OPER-PIMCO MT FEDERAL HOME LN BK CONS DISC MAT 2/25/2005 100.0000 -1,400,000.000 -1,399,904.33 1,399,904.33 0.00 02/25/2005 2/25/2005 SEC ID: 313385CH7 2/25/2005 OCSF07511102: LIQUID OPER-PIMCO MT FEDERAL HOME LN BK CONS DISC N MAT 2/28/2005 100.0000 -1,400,000.000 -1,399,710.67 1,399,710.67 0.00 02/28/2005 2/28/2005 SEC ID: 313385CL8 2/28/2005 OCSF07511102 : LIQUID OPER-PIMCO MT FEDERAL HOME LN MTG CORP DISC MAT 2/8/2005 100.0000 -6,000,000.000 -5,967,391.67 5,967,391.67 0.00 02/08/2005 2/8/2005 SEC ID: 313397BQ3 2/8/2005 OCSF07511102: LIQUID OPER-PIMCO MT FEDERAL NATL MTG ASSN DISCOUNT MAT 2/9/2005 100.0000 -1,200,000.000 -1,199,919.67 1,199,919.67 0.00 02/09/2005 2/9/2005 SEC ID: 313589BR3 2/9/2005 OCSF07511102: LIQUID OPER-PIMCO MT WELLS FARGO BANK NA INSTL C/D 2.520% 2/17/2005 100.0000 -300,000.000 -300,000.00 300,000.00 0.00 02/17/2005 DD 02/01 /05 2/17/2005 SEC ID: 9497P15Kl 2/17/2005 OCSF07511102: LIQUID OPER-PIMCO MT WELLS FARGO BANK NA INSTL C/D 2.420% 2/15/2005 100.0000 -1,300,000.000 -1,300,000.00 1,300,000.00 0.00 02/15/2005 DD O 1/25 /05 2/15/2005 SEC ID: 9497P17M5 2/15/2005 OCSF07511102: LIQUID OPER-PIMCO TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: -29,300,000.000 -29,225,564.65 29,225,564.65 0.00 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 43 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONS OLIDATE D0[[[2 0 60 ODO OD O•• 2/1/2005 -2/28/2005 Status: FINAL •· Trade Date . ~ .. '" ' " ,. ,. I . -.. Net Gain/Loss Tran Settle Date Base Price ,. [ Cost . , , . Amount . .: Type Description Reported Date Shares/Par :, Base • .-Base Base . , TOTAL CASH & CASH EQUIVALENTS BASE: -29,300,000.000 -29,225,564.65 29,225,564.65 0.00 FIXED INCOME SECURITIES U.S. DOLLAR MT FEDERAL HOME LN BK CONS BOS 7.125% 2/15/2005 100.0000 -3,500,000.000 -3,732,225.00 3,500,000.00 -232,225.00 02/15/2005 DD 02/08 /00 2/15/2005 SEC ID: 3133MAUN7 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO MT FEDERAL NATL MTG ASSN DEBS 7 .125% 2/15/2005 100.0000 -15,500,000.000 -16, 154,410.00 15,500,000.00 -654,410.00 02/15/2005 DD 02/ 14 /00 2/15/2005 SEC ID: 31359MFH1 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: -19,000,000.000 -19,886,635.00 19,000,000.00 -886,635.00 TOTAL FIXED INCOME SECURITIES BASE: -19,000,000.000 -19,886,635.00 19,000,000.00 -886,635.00 TOTAL MATURITIES BASE: -48 ,300,000.000 -49,112,199.65 48,225,564.65 -886,635.00 MISCELLANEOUS ACTMTY FIXED INCOME SECURITIES U.S. DOLLAR SW REPS 2/28/05 FACTOR ADJUSTMENT US 2/28/2005 -59,360.000 -52,623.86 0.00 -52,623.86 TREASURY INFLATION INDEX NT 2/28/2005 SEC ID: 9128272M3 2/28/2005 OCSF07522202: LONG TERM OPER-PIMCO SW REPS 2/28/05 FACTOR ADJUSTMENT US 2/28/2005 -12,480.000 -13,567.52 0.00 -13,567.52 TREASURY INFLATION INDEX NT 2/28/2005 SEC ID: 9 1282 73T7 2/28/2005 OCSF07522202 : LONG TERM OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 44 . @ Transaction Detail ReportID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATED[]][][2J 60 m •rn•m 2/1/2005 -2/28/2005 Status: FINAL -. I' Trade Date , ' ---' ... . ' Tran . ., Cost Amount Net Gain/Loss " Settle Date Base Price Type Description •,, ... l ,.'I , Reported Date Shares/Par I Base ' Base Base .. ., ~ r1. ., t . SW REPS 2/28/05 FACTOR ADJUSTMENT US 2/28/2005 -53,170.000 -58,870.03 0.00 -58,870.03 TREASURY INFLATION INDEX NT 2/28/2005 SEC ID: 9128274Y5 OCSF0752 2202: LONG TERM OPER-PIMCO 2/28/2005 TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: -125,010.000 -125,061.41 0.00 -125,061.41 TOTAL FIXED INCOME SECURITIES BASE: -125,010.000 -125,061.41 0.00 -125,061.41 TOTAL MISCELLANEOUS ACTMTY BASE: -125,010.000 -125,061.41 0.00 -125,061:41 INTEREST CASH & CASH EQUIVALENTS U.S. DOLLAR IT FEDERAL HOME LN BK CONS DISC MAT 2/2/2005 1,600,000.000 6 ,413.33 6,413.33 0.00 02/02/2005 2/2/2005 SEC ID: 313385BJ4 2/2/2005 OCSF07511102: LIQUID OPER-PIMCO IT FEDERAL HOME LN BK CONS DISC N MAT 2/16/2005 7,300,000.000 513.03 513.03 0.00 02/16/2005 2/16/2005 SEC ID: 313385BY1 2/16/2005 OCSF07522202: LONG TERM OPER-PIMCO IT FEDERAL HOME LN BK CONS DISC MAT 2/18/2005 6,000,000.000 33,973.33 33,973.33 0.00 02/18/2005 2/18/2005 SEC ID: 313385CA2 2/18/2005 OCSF07511102: LIQUID OPER-PIMCO IT FEDERAL HOME LN BK CONS DISC N MAT 2/22/2005 l, 400,000.000 368.67 368.67 0.00 02/22/2005 2/22/2005 SEC ID: 313385CE4 2/22/2005 OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9: 16:40AM PST Workbench * Actual Settle Date 45 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOL!DATE DJ[][[20 6000000=:JOO 2/1/2005 -2/28/2005 Status: FINAL Trade Date ~ ' -.~ . -•. ,_ ~·, ' ' -Tran ' .. ~· ,. . '1:·· ;:., . Cost . Amount Net Gain/Loss Settle Date Base Price .. '. . Type Description Reported Date Shares/Par · ~ ,, Base Base "1 .. '•.Jl Base IT FEDERAL HOME LN BK CONS DISC MAT 2/23/2005 1,400,000.000 93.33 93.33 0.00 02/23/2005 2/23/2005 SEC ID: 313385CF1 2/23/2005 OCSF07511102: LIQUID OPER-PIMCO IT FEDERAL HOME LN BK CONS DISC MAT 2/25/2005 1,400,000.000 95.67 95.67 0.00 02/25/2005 2/25/2005 SEC ID: 313385CH7 2/25/2005 OCSF07511102: LIQUID OPER-PIMCO IT FEDERAL HOME LN BK CONS DISC N MAT 2/28/2005 1,400,000.000 289.33 289.33 0.00 02/28/2005 2/28/2005 SEC ID: 313385CL8 2/28/2005 OCSF07511102: LIQUID OPER-PIMCO IT FEDERAL HOME LN MTG CORP DISC MAT 2/8/2005 6,000,000.000 32,608.33 32,608.33 0.00 02/08/2005 2/8/2005 SEC ID: 313397BQ3 2/8/2005 OCSF07511102: LIQUID OPER-PIMCO IT FEDERAL NATL MTG ASSN DISCOUNT MAT 2/9/2005 1,200,000.000 80.33 80.33 0.00 02/09/2005 2/9/2005 SEC ID: 313589BR3 2/9/2005 OCSF07511102: LIQUID OPER-PIMCO IT WELLS FARGO BANK NA INSTL C/D 2.520% 2/17/2005 300,000.000 336.00 336.00 0.00 02/17/2005 DD 02/01 /05 2/17/2005 SEC ID: 9497P 15Kl 2/17/2005 OCSF07511102: LIQUID OPER-PIMCO IT WELLS FARGO BANK NA INSTL C/D 2.420% 2/15/2005 1,300,000.000 1,835.17 1,835.17 0.00 02/15/2005 DD O 1/25 /05 2/15/2005 SEC ID: 9497P l 7M5 2/15/2005 OCSF07511102: LIQUID OPER-PIMCO cw SHORT TERM FDS INT ADJ NET OF 2/28/2005 0.000 -5,792.22 -5,792.22 0.00 OVERNIGHT INTEREST 2/28/2005 SEC ID: 990000PJ4 2/28/2005 OCSF07511102: LIQUID OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 46 Transaction Detail . . @ Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE Dcm:2 J 6• ••J ••J •• 2/1/2005 -2/28/2005 Status: FINAL .. Trade Date -r .• ~---· -~ .- I ,, .. " ~,-" ' ~ ,: .. ' Tran <. Cost Amount Net Gain/Loss , Settle Date Base Price .• Type Description • l1o.&. '. ( Reported Date Shares/Par ,, Base i.r. Base Base ' ., ~ -' I IT DREYFUS TREASURY CASH MGMT 2/2/2005 0.000 3,766.31 3,766.31 0.00 SEC ID: 996085247 2/1/2005 OCSF07511102: LIQUID OPER-PIMCO 2/2/2005 2/2/2005 * IT DREYFUS TREASURY CASH MGMT 2/2/2005 0.000 2,224.51 2,224.51 0.00 SEC ID: 996085247 2/1/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/2/2005 2/2/2005 * TOTAL CASH & CASH EQUIVALENTS U.S. DOLLAR: 29,300,000.000 76,805.12 76,805.12 0.00 TOTAL CASH & CASH EQUIVALENTS BASE: 29,300,000.000 76,805.12 76,805.12 0.00 FIXED INCOME SECURITIES U.S. DOLLAR IT AJG SUNAMERICA GLOBAL REGS 5.850% 2/1/2005 752,000.000 21,996.00 21,996.00 0.00 08/01/2008 DD 08/08/01 2/1/2005 SEC ID: U00907AAO 2/1/2005 OCSF07522202: LONG TERM OPER-PJMCO IT WMP/HUNTOON PAIGE #000-11150 7.500% 2/28/2005 848.180 5,846.33 5,846.33 0.00 12/01/2030 DD 10/21 /99 2/1/2005 SEC ID: 302998GE3 2/28/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/28/2005 * IT FEDERAL HOME LN BK CONS BOS 7.125% 2/15/2005 3,500,000.000 124,687.50 124,687.50 0.00 02/15/2005 DD 02/08 /00 2/15/2005 SEC ID: 3133MAUN7 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO IT FHLMC MULTICLASS MTG SER E3 A VAR RT 2/15/2005 18,935.250 2,544.66 2,544.66 0.00 08/15/2032 DD 12/01 /97 1/1/2005 SEC ID: 3133TCE95 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 47 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDJllll!2 '.J 60 O•ODD'.JDO 2/1/2005 -2/28/2005 Status: FINAL • s' Trade Date ~ . ' " ",, ~; -,. ! ., i . " " ... ~-{\, r Tran Cost I'. • Amount Net Gain/Loss '• Settle Date Base Price . ,.,. 't ~ l • ~j . Type Description Reported Date Shares/Par • •• ;: • Base ' Base Base " • '"·1:1 J,-~ " IT FHLMC GROUP #78-6064 6.384% 01/01/2028 2/15/2005 2,283.000 193.88 193.88 0.00 DD 12/01/97 1/1/2005 SEC ID: 31348SWZ3 2/15/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/15/2005 * IT FEDERAL NATL MTG ASSN DEBS 7 .125% 2/15/2005 15,500,000.000 552,187.50 552,187.50 0.00 02/15/2005 DD 02/14/00 2/15/2005 SEC ID: 31359MFH1 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO IT FNMA POOL #0254510 5.000% 11/01/2017 2/25/2005 10,190.310 2,684.92 2,684.92 0.00 DD 10/01/02 2/1/2005 SEC ID: 31371KVB4 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0254631 5.000% 02/01/2018 2/25/2005 2,199.620 578.52 578.52 0.00 DD 01/01/03 2/1/2005 SEC ID: 31371KY47 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0254760 5.000% 06/01/2018 2/25/2005 2,064.430 516.34 516.34 0.00 DD 05/01/03 2/1/2005 SEC ID: 31371 K5V9 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0254866 5.000% 09/01/2018 2/25/2005 789.390 233.98 233.98 0.00 DD 08/01/03 2/1/2005 SEC ID: 31371LCB3 2/25/2005 OCSF07522202: LONGTERM OPER-PlMCO 2/25/2005 * IT FNMA POOL #0254953 5.000% 11/01/2018 2/25/2005 5,247.820 1,246.23 1,246.23 0.00 DD 10/01/03 2/1/2005 SEC ID: 31371LE21 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL#0254987 5.000% 12/01/2018 2/25/2005 11,264.100 3,360.56 3,360.56 0.00 DD 11/01/03 2/1/2005 SEC ID: 31371LF46 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 48 . @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD--CONSOLIDATEDJ[]!][2J 60 ••ODDO•• 2/1/2005 -2/28/2005 Status: FINAL ! ~ "' 1 Trade Date -. . ·. ' ., Tran . . ,· Cost . Amount Net Gain/Loss Settle Date Base Price ' , . ~-~ .,; .. Type Description ~ Reported Date Shares/Par Base Base Base ,1-' • .i' ' IT FNMA POOL #0323980 6.000% 04/01/2014 2/25/2005 3,855.350 700.51 700.51 0.00 DD 09/01/99 2/1/2005 SEC ID: 31374T2MO 2/25/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0357328 5.000% 01/01/2018 2/25/2005 421.520 97.62 97.62 0.00 DD 01/01/03 2/1/2005 SEC ID: 31376J4M8 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0357430 5.000%09/01/2018 2/25/2005 20,834.220 5,151.85 5,151.85 0.00 DD 09/01/03 2/1/2005 SEC ID: 31376KA71 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0456482 6.000% 02/01/2014 2/25/2005 381.710 188.95 188.95 0.00 DD 02/01/99 2/1/2005 SEC ID: 31381CCT2 2/25/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL#0509649 6.000%09/01/2014 2/25/2005 813.460 494.02 494.02 0.00 DD 09/01/99 2/1/2005 SEC ID: 31383QEWO 2/25/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0535451 6.000% 06/01/2015 2/25/2005 2,704.820 546.86 546.86 0.00 DD 07 /01/00 2/1/2005 SEC ID: 31384 VZQ8 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0555363 5.000%04/01/2018 2/25/2005 4,264.510 1,236.25 1,236.25 0.00 DD 03/01/03 2/1/2005 SEC ID: 31385W5Yl 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL#0555453 5.000%05/01/2018 2/25/2005 603.970 128.79 128.79 0.00 DD 04/01/03 2/1/2005 SEC ID: 31385XBW6 2/25/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 49 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDD!llE2 0 60 •••••::mo 2/1/2005 -2/28/2005 Status: FINAL Trade Date Tran j Settle Date Base Price -· ,. ~! t Cost .! 1 'Amount Net Gain/Loss . ' Type Description ' ~ -LI Reported Date Shares/Par ,. ,'· C ... Base . Base Base IT FNMA POOL #0555545 5.000% 06/01/2018 2/25/2005 3,786.870 1,027.34 1,027.34 0.00 DD 05/01/03 2/1/2005 SEC ID: 31385XES2 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0555621 5.000% 07/01/2018 2/25/2005 14,918.250 3,551.18 3,551.18 0.00 DD 06/01/03 2/1/2005 SEC ID: 31385XG68 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0681309 5.000% 02/01/2018 2/25/2005 4,918.630 1,921.01 1,921.01 0.00 DD 02/01/03 2/1/2005 SEC ID: 31391Y3S4 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL#0681334 5.000%02/01/2018 2/25/2005 972.680 232.50 232.50 0.00 DD 01/01/03 2/1/2005 SEC ID: 31391Y4Tl 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA GTD REMIC P /T 02-76 PD 5.000% 2/25/2005 106,726.560 444.69 444.69 0.00 08/25/2022 DD 10/01 /02 2/1/2005 SEC ID: 31392FKF3 2/25/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0684908 5.000% 06/01/2018 2/25/2005 6,848.130 1,269.86 1,269.86 0.00 DD 05/01/03 2/1/2005 SEC ID: 31400D3Rl 2/25/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/25/2005 * IT FNMA POOL#0685200 5.000%03/01/2018 2/25/2005 1,650.940 686.47 686.47 0.00 DD 03/01/03 2/1/2005 SEC ID: 31400EGH7 2/25/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0685665 5.000% 02 /01/2018 2/25/2005 620.950 117.88 117.88 0.00 DD 02/01/03 2/1/2005 SEC ID: 31400EW22 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 50 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONS OLI DATE DJD[][2 D 60 •••••••• 2/1/2005 -2/28/2005 Status: FINAL -11 Trade Date / . ) -, .. Net Gain/Loss Tran ' 1' • r ; • ~-• , • I Cost Amount Settle Date Base Price ~"···"' II Type Description l .. ' -', Reported Date Shares/Par . I'"·• Base I Base Base . ,··:, C --' • I IT FNMA POOL #0686318 5.000% 03/01/2018 2/25/2005 1,302.200 1,041.75 1,041.75 0.00 DD 03/01/03 2/1/2005 SEC ID: 31400FP87 2/25/2005 OCSF07522202 : LONGTERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0688739 5.000% 06/01/2018 2/25/2005 2,648.620 411.80 411.80 0.00 DD 06/01/03 2/1/2005 SEC ID: 31400JEL9 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0689859 5.000% 05/01/2018 2/25/2005 393.420 345.90 345.90 0.00 DD 05/01/03 2/1/2005 SEC ID: 31400KMG8 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0693834 5.000% 03/01/2018 2/25/2005 9,691.320 2,280.45 2,280.45 0.00 DD 03/01/03 2/1/2005 SEC ID: 31400PY74 2/25/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0695852 5.000% 05/01/2018 2/25/2005 2,690.630 808.40 808.40 0.00 DD 05/01/03 2/1/2005 SEC ID: 31400SBVO 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0695889 5.000% 05/01/2018 2/25/2005 4,604.890 2,740.71 2,740.71 0.00 DD 05/01/03 2/1/2005 SEC ID: 31400SC23 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0697026 5.000% 05 /01/2018 2/25/2005 259.790 83.71 83.71 0.00 DD 04/01/03 2/1/2005 SEC ID: 31400TLF2 2/25/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/25/2005 * IT FNMA POOL#0702210 5.000%05/01/2018 2/25/2005 2,138.090 849.66 849.66 0.00 DD 05/01/03 2/1/2005 SEC ID: 31401ADP9 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 51 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJlllll2 0 6000000 000 2/1/2005 -2/28/2005 Status: FINAL Trade Date . .• ,r ~ I. ~ . .,,: . Tran . . Settle Date Base Price '.:. ;c., • _,. Cost , . Amount Net Gain/Loss .. . J ,:·, . ... -• :I Type Description _ Reported Date Shares/Par •· ,.._ .. : Base t __ r Base Base r • . -, i -~ ·--' -•• I" IT FNMA POOL #0702328 5.000% 05/01/2018 2/25/2005 1,705.890 500.26 500.26 0.00 DD 04/01/03 2/1/2005 SEC ID: 31401AHD2 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0709148 5.000% 06/01/2018 2/25/2005 1,964.490 1,042.58 1,042.58 0.00 DD 06/01/03 2/1/2005 SEC ID: 31401HZM7 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0709360 5.000% 07/01/2018 2/25/2005 8,246.560 2,345.70 2,345.70 0.00 DD 06/01/03 2/1/2005 SEC ID: 31401JB56 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0709826 5.000% 06/01/2018 2/25/2005 1,055.400 408.32 408.32 0.00 DD 06/01/03 2/1/2005 SEC ID: 31401JSP4 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0709917 5.000% 06/01/2018 2/25/2005 2,195.410 845.86 845.86 0.00 DD 06/01/03 2/1/2005 SEC ID: 31401JVJ4 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0709963 5.000% 06/01/2018 2/25/2005 77.150 74.56 74.56 0.00 DD 06/01/03 2/1/2005 SEC ID: 31401JWYO 2/25/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0710235 5.000% 06/01/2018 2/25/2005 13,997.720 2,227.21 2,227.21 0.00 DD 06/01/03 2/1/2005 SEC ID: 31401KBC8 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0713344 5.000% 06/01/2018 2/25/2005 625.490 62.23 62.23 0.00 DD 06/01/03 2/1/2005 SEC ID: 31401NP52 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 52 . @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE Dilll!2 ::J 6 0 ••::JD•••• 2/1/2005 -2/28/2005 Status: FINAL ..... Trade Date ,-. ' ~ ' " :•· ~ -'"· . .. , . ,. Tran "· Cost '·) Amount Net Gain/Loss Settle Date Base Price ' " Type Description ' '" ., •· ~ I Reported Date Shares/Par Base Base Base .,, ' ' C llj -' ' IT FNMA POOL #0713365 5.000% 07/01/2018 2/25/2005 8,479.630 981.54 981.54 0.00 DD 07 /01/03 2/1/2005 SEC ID: 31401NQS1 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0720319 5.000% 07/01/2018 2/25/2005 11,051.030 2,743.93 2,743.93 0.00 DD 07 /01/03 2/1/2005 SEC ID: 31401 WG45 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0720369 5.000% 06/01/2018 2/25/2005 9,887.680 8,184.16 8,184.16 0.00 DD 06/01/03 2/1/2005 SEC ID: 31401 WJNO 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0721629 5.000% 07/01/2018 2/25/2005 3,793.300 1,147.84 1,147.84 0.00 DD 06/01/03 2/1/2005 SEC ID: 31401XVW4 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0723487 5.000% 06/01/2018 2/25/2005 984.220 955.85 955.85 0.00 DD 06/01/03 2/1/2005 SEC ID: 31402AXQ4 2/25/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0729601 5.000% 07/01/2018 2/25/2005 1,918.790 1,528.80 1,528.80 0.00 DD 07 /01/03 2/1/2005 SEC ID: 31402HRW3 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0732873 5.000% 11/01/2018 2/25/2005 136.720 136.68 136.68 0.00 DD 10/01/03 2/1/2005 SEC ID: 31402MFNS 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0737130 5.000% 10/01/2018 2/25/2005 3,275.630 2,430.45 2,430.45 0.00 DD 10/01/03 2/1/2005 SEC ID: 31402S4P9 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 53 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCS D-CONS OLI DATE DJllilill O 60 DDODOJ OD 2/1/2005 -2/28/2005 Status: FINAL ~: t' • Trade Date ~ 11 ~ . ' • J ' ' ' "\ ..:~ ...,. :, _., 6 f, . " .. Tran 'I; •r ,. ·-Cost ' " Amount Net Gain/Loss . Settle Date Base Price . . Type Description -Reported Date Shares/Par .. Base . Base Base • ~ IT FNMA POOL#0738211 5.000%10/01/2018 2/25/2005 5,418.940 2,026.88 2,026.88 0.00 DD 10/01/03 2/1/2005 SEC ID: 31402UDQ2 2/25/2005 OCSF0752 2202 : LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0738487 5.000% 10/01/2018 2/25/2005 2,022.960 719.71 719.71 0.00 DD 10/01/03 2/1/2005 SEC ID: 31402UNC2 2/25/2005 OCSF07522202 : LONG TERM OPER-PJMCO 2/25/2005 * IT FNMA POOL #0740471 5.000% 10/01/2018 2/25/2005 2,865.450 2,759.34 2,759.34 0.00 DD 10/01/03 2/1/2005 SEC ID: 31402WT40 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL#0740748 5.000% 10/01/2018 2/25/2005 3,722.460 2,965.89 2,965.89 0.00 DD 11/01/03 2/1/2005 SEC ID: 31402W5H7 2/25/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0743868 5.000% 11/01/2018 2/25/2005 501.570 144.94 144.94 0.00 DD 10/01/03 2/1/2005 SEC ID: 31403BMR1 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0744008 5.000% 07/01/2018 2/25/2005 4,604.550 3,819.71 3,819.71 0.00 DD 09/01/03 2/1/2005 SEC ID: 31403BR54 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0744316 5.000% 09/01/2018 2/25/2005 1,866.470 605.97 605.97 0.00 DD 09/01/03 2/1/2005 SEC ID: 31403B324 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0747914 5.000% 11/01/2018 2/25/2005 10,568.760 1,266.84 1,266.84 0.00 DD 11 /01/03 2/1/2005 SEC ID: 31403F3XO 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 54 . Transaction Detail @ Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDcm:2 • 6• •••••••• 2/1/2005 -2/28/2005 Status: FINAL Trade Date -' ~ -~ . . .! • :--: .. ' .. · Net Gain/Loss Tran ' I • Settle Date Base Price Cost ., ''Amount ' .. Type Description . -1 -~ Reported Date Shares/Par .. , -~-Base ,,, Base Base ' IT FNMA POOL #0748400 5.000%08/01/2018 2/25/2005 4,841.650 758.28 758.28 0.00 DD 09/01/03 2/1/2005 SEC ID: 31403GNR9 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0748899 5.000% 12/01/2018 2/25/2005 27,168.740 3,715.15 3,715.15 0.00 DD 11 /01/03 2/1/2005 SEC ID: 31403G7LO 2/25/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0750377 5.000% 11/01/2018 2/25/2005 40,649.840 8,266.33 8,266.33 0.00 DD 11 /01/03 2/1/2005 SEC ID: 31403JUA2 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0750380 5.000% 11/01/2018 2/25/2005 34,034.070 7,141.90 7,141.90 0.00 DD 11/01/03 2/1/2005 SEC ID: 31403JUD6 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0750445 5.000% 11/01/2018 2/25/2005 693.960 688.91 688.91 0.00 DD 11/01/03 2/1/2005 SEC ID: 31403JWE2 2/25/2005 OCSF07522202: LONGTERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0751960 5.000% 12/01/2018 2/25/2005 16,608.010 3,134.09 3,134.09 0.00 DD 11/01/03 2/1/2005 SEC ID: 31403LMH1 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0753425 5.000% 11/01/2018 2/25/2005 13,757.130 3,290.33 3,290.33 0.00 DD 11 /01/03 2/1/2005 SEC ID: 31403NA23 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT FNMA POOL #0755165 5.000% 12/01/2018 2/25/2005 2,698.060 2,393.00 2,393.00 0.00 DD 11 /01/03 2/1/2005 SEC ID: 31403Q6A3 2/25/2005 OCSF0752 2202: LONG TERM OPER-PIMCO 2/25/2005 * Workbench 3/8/2005 9:16:40AM PST * Actual Settle Date 55 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE D::n:IDI2 D 60 •••••••• 2/1/2005 -2/28/2005 Status: FINAL Trade Date \ ' -' " ._ J ,, ' ; Tran .. ,. -;:_ Cost Amount Net Gain/Loss Settle Date Base Price ,'l -. J.' ..:, ,1 Type Description Reported Date Shares/Par . ' . . Base -· Base I Base • ' .- IT FNMA POOL#0756372 5.000% 11/01/2018 2/25/2005 4,185.810 3,721.61 3,721.61 0.00 DD 11 /01/03 2/1/2005 SEC ID: 31403SJR8 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/25/2005 * IT GNMA POOL#0421389 6.500% 04/15/2026 2/15/2005 288.180 49.76 49.76 0.00 DD 04/01/96 2/1/2005 SEC ID: 36206UC23 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * IT GNMA POOL#0449851 6.500% 01/15/2028 2/15/2005 3,357.020 83.54 83.54 0.00 DD 01/01/98 2/1/2005 SEC ID: 36208FWLO 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * IT GNMA POOL #0466845 6.500% 06/15/2028 2/15/2005 47.080 176.94 176.94 0.00 DD 06/01/98 2/1/2005 SEC ID: 36209BTA6 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * IT GNMA POOL#0468052 6.500% 07/15/2028 2/15/2005 216.340 599.44 599.44 0.00 DD 07 /01/98 2/1/2005 SEC ID: 36209C5M4 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * IT GNMA POOL#0476041 6.500% 06/15/2028 2/15/2005 253.770 742.19 742.19 0.00 DD 06/01/98 2/1/2005 SEC ID: 36209MZE7 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * IT GNMA POOL#0478626 6.500% 01/15/2029 2/15/2005 187.140 652.40 652.40 0.00 DD 01 /01/99 2/1/2005 SEC ID: 36209QVT9 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * IT GNMA POOL#0480598 6.500% 10/15/2028 2/15/2005 39.470 155.65 155.65 0.00 DD 10/01/98 2/1/2005 SEC ID: 36209S3F6 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * Workbench 3/8/2005 9:16:40AM PST * Actual Settle Date 56 - @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATE DJDII2 J 60 DDJDDD•• 2/1/2005 -2/28/2005 Status: FINAL Trade Date .. ,~ l .•. ·..,_ ' :,. ; i, i• + ~ .. ~ ·.-1,, . . ' ·: · Net Gain/Loss Tran a1•1.J Cost Amount -· ,. -tt Settle Date Base Price - Type Description Reported Date Shares/Par I r, < , . . Base -Base Base ., ., , ... ,, ' ., .. .. IT GNMA POOL#0512235 6.500% 11/15/2029 2/15/2005 12.660 45.39 45.39 0.00 DD 11 /01/99 2/1/2005 SEC ID: 36211GBC6 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * IT GNMA POOL#0514326 6.500% 07/15/2029 2/15/2005 8,005.710 541.46 541.46 0.00 DD 07 /01/99 2/1/2005 SEC ID: 36211JLF2 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/15/2005 * IT GNMA II POOL #0080023 VAR RT 12/20/2026 2/22/2005 3,523.070 542.97 542.97 0.00 DD 12/01/96 2/1/2005 SEC ID: 36225CAZ9 2/22/2005 OCSF07522202 : LONG TERM OPER-PIMCO 2/22/2005 * IT GNMA II POOL #080088M 7.375% 06/20/2027 2/22/2005 1,352.120 549.31 549.31 0.00 DD 06/01/97 2/1/2005 SEC ID: 36225CC20 2/22/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/22/2005 * IT GNMA II POOL #0080395 VAR RT 04/20/2030 2/22/2005 4,518.910 488.05 488.05 0.00 DD 04/01/00 2/1/2005 SEC ID: 36225CNM4 2/22/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/22/2005 * IT GNMA II POOL #080408X VAR RT 05/20/2030 2/22/2005 36,593.790 4,430.08 4,430.08 0.00 DD 05/01/00 2/1/2005 SEC ID: 36225CN28 2/22/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/22/2005 * IT GNMA II POOL #0080965 VAR RT 07/20/2034 2/22/2005 12,023.130 3,909.74 3,909.74 0.00 DD 07 /01/04 2/1/2005 SEC ID: 36225DCB8 2/22/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/22/2005 * IT GNMA GTD REMIC TR 2000-9 FH VAR RT 2/16/2005 14,231.320 1,203.48 1,203.48 0.00 02/16/2030 2/16/2005 SEC ID: 3837H4NX9 2/16/2005 OCSF07522202: LONG TERM OPER-PIMCO 3/8/2005 9:16:40AM PST Workbench * Actual Settle Date 57 @ Transaction Detail Report ID: EWBA09 Mellon Reported by Transaction Category Base Currency: USD OCSD-CONSOLIDATEDDJI2fJ 60 ••::mo ••• 2/1/2005 -2/28/2005 Status: FINAL Trade Date . . ' " "~ .1 ~1 I . . ' ~\ ' ~. . . ... ... ..~ Cost ' Amount· Net Gain/Loss Tran Settle Date Base Price •:,. t.i!" '· -. . Type Description Reported Date Shares/Par I Base -Base Base .. •: I.. . . . . .. IT RESIDENTIAL ASSET 03-RSl 1 AIIB VAR RT 2/25/2005 26,608.430 1,476.61 1,476.61 0.00 12/25/2033 DD 12/30/03 2/25/2005 SEC ID: 760985K83 2/25/2005 OCSF07522202: LONG TERM OPER-PIMCO IT SBA GTD PARTN CTFS SBIC-PS O 1 6 .640% 2/10/2005 137,939.550 32,138.34 32,138.34 0.00 02/10/2011 DD 02/21 /01 2/1/2005 SEC ID: 831641DD4 2/10/2005 OCSF07522202: LONG TERM OPER-PIMCO 2/10/2005 * IT US TREASURY NOTES 06.250% 02/15/2007 2/15/2005 20,000,000.000 625,000.00 625,000.00 0.00 DD 02/15/97 2/15/2005 SEC ID: 9128272JO 2/15/2005 OCSF07522202: LONG TERM OPER-PIMCO IT US TREASURY NOTES 2.375%08/31/2006 DD 2/28/2005 55,300,000.000 656,687.50 656,687.50 0.00 08/31/04 2/28/2005 SEC ID: 912828CU2 2/28/2005 OCSF07522202: LONG TERM OPER-PIMCO TOTAL FIXED INCOME SECURITIES U.S. DOLLAR: 95,798,674.860 2,144,942.28 2,144,942.28 0.00 TOTAL FIXED INCOME SECURITIES BASE: 95,798,674.860 2,144,942.28 2,144,942.28 o.oo TOTAL INTEREST BASE: 125,098,674.860 2,221,747.40 2,221,747.40 0.00 TOTAL TRANSACTIONS: 88,528,329.750 -35,071,247.90 38,460,634.21 -1,040,389.93 3/8/2005 9: l 6:40AM PST Workbench * Actual Settle Date 58