SAN BENITO COUNTY WATER DISTRICT

 

QUARTERLY INVESTMENT REPORT

 

QUARTER ENDING JUNE 30, 2004

                                               

 

Investment Account Balances:

Investment account balances at market value as of June 30, 2004 totaled $26,406,994.30; those same investment account balances at market value as of March 31, 2004 were $25,084,447.75  The market yield at June 30, 2004 was 1.53%.

 

Portfolio Summary:

$24,434,138.79 is invested in the State of California Local Agency Investment Pool. The yield for the Quarter was 1.43%.

 

$1,176,277.20 is invested in Trusts managed by Morgan Stanley Dean Witter. The balance consists of an Active Assets Money Trust with a market value of $1,116,975.23 and a yield of .71% and an Active Assets Government Security trust with a market value of $59,301.97 and a yield of  .33%.

 

$740,000.00 is invested in U. S. Treasury Securities. The market value of the U. S. Treasury Securities is $796,260.10 with a yield of 5.82% and an unrealized gain of  $58,285.25.

 

$318.21 is invested in a Federated Treasury Obligation Fund managed by U.S. Bank (formerly State Street Bank).  The yield was .60%.

 

The investment analysis and portfolio details are attached.

 

Liquidity Requirements:

Assuming that there are no revenues generated during the six month period July 1, 2004 through December 30, 2004, there are adequate liquid reserves available in the L.A.I.F. account to fund projected expenditure requirements as stated in the Investment Policy, Section V, 2.

 

The balance in the Morgan Stanley Dean Witter Active Assets Money Trust is sufficient to cover at least two current months of District expenses. This balance meets the Investment Policy requirements per Section IV., 1b.