oc lafco comprehensive quarterly reportoclafco.org/cq/cqreport_q2_fy1415.pdf · page | 1 orange...

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Orange County LAFCO Comprehensive Quarterly Report

F Y 2 0 1 4 - 1 5

Q 2 : O c t o b e r –

D e c e m b e r 2 0 1 4

I N S I D E L O O K :

Proposed Changes of Organization –

Fostering Partnerships – Page 3

Meetings and Outreach Efforts – Page 5

FY 2014-15 Budget Overview – Page 7

LAFCO COMPREHENSIVE QUARTERLY REPORT: Q2 FY 14-15 1 | P a g e

I n t r o d u c t i o n

The February Comprehensive Quarterly Report (“CQ Report”) provides an overview of the projects and

meetings completed and underway in the months of October, November and December 2014 (FY 14-15

second quarter). An assessment of the agency’s current budget and investment portfolio performance

for the second quarter is also contained in this report.

P r o p o s e d C h a n g e s o f O r g a n i z a t i o n

During the second quarter, OC LAFCO participated in meetings and discussions on routine to complex

changes of organization involving island and special district annexations, activation of latent powers, and

extraterritorial provision of retail water. The following section provides an update on activities involving

boundary change applications and potential LAFCO proposals that occurred during the second quarter.

Via Vista Annexation to the Orange County Sanitation District

LAFCO and the Orange County Sanitation

District have worked collaboratively over

the years to process small annexations to

the Orange County Sanitation District

(OCSD) that allow individual or multiple

residential properties to transition from

septic systems to a local sewer system.

Failing or leaking septic tanks can

contaminate the groundwater and lead to

other health and public safety concerns.

During the second quarter, the Commission

approved the Via Vista Annexation allowing

a single property in the Anaheim Hills area

to convert from septic to sewer. As the regional wastewater collection and treatment agency,

properties much annex to OCSD to receive both local and regional wastewater services. The Annexation

will allow the property owner to coordinate with the City of Anaheim for connection to the City’s local

sewer system.

OCSD


Santa Ana/Colleen Island Annexation to the City of Costa Mesa

During the second quarter, the Commission approved the

annexation of the Santa Ana/Colleen Island Annexation

to the City of Costa Mesa. The action has been recorded

with the Clerk Recorder’s office and is now effective.

LAFCO staff is coordinating with City staff to submit the

final paperwork to the State. The annexation represents

an ongoing effort by the Commission to work proactively

with the County, cities, and special districts (where

applicable) to annex unincorporated islands to cities and

improve service delivery efficiencies in unincorporated

areas. For many years, LAFCO has worked with the

County and the City of Costa Mesa on long-term

governance options for the unincorporated areas within

the City’s sphere of influence. The City’s long-term

commitment to the process, most recently demonstrated by participation in the Islands Task Force, has

led to the successful annexation of several islands since 2002. Annexation of the Santa Ana Island leaves

21 small islands (less than 150 acres) in Orange County.

East Orange County Water District Reorganization & Focused MSR

The Commission has received regular status updates from staff on the proposed “East Orange County

Water District Reorganization for Local Sewer Service” (RO 14-01) and the focused MSR that is being

conducted as part of the LAFCO review process. During the second quarter, LAFCO staff continued to

work with the applicant (EOCWD) and stakeholders (City of Orange, Irvine Ranch Water District, and

Orange County Sanitation District) on data and information necessary to prepare and complete the MSR.

The data collection phase of the MSR process is critical as it lays the foundation for the future analysis

that will be presented in the final written report for Commission consideration mid-spring. LAFCO staff

is expecting additional data from the stakeholders and is continuing to work with representatives from

each agency to field questions about the data request and process. While the data collection phase is

ongoing, staff has begun preparation of the draft MSR report, which is expected to be distributed to

stakeholders for internal review in March. A revised MSR schedule and additional details are provided

in a separate staff report for the February agenda.

Transfer of Retail Water System and Potential Annexation of La Habra Islands

The Commission has received regular status updates on an anticipated application from the City of La

Habra for approval of an out-of-agency service agreement between the City and California Domestic

Water Company (“CDWC”) for the proposed transfer of retail water facilities and services from CDWC to

the City. State law requires that LAFCO approval of an out-of-agency service agreement be in

anticipation of future annexation of the area by the City. Over the past several months, LAFCO staff has

worked with City and County staff to discuss infrastructure and government service issues related to

future annexation of the islands by La Habra. In addition to water service, sewer issues in the islands

represent an important topic since approximately 150 properties located in the islands are currently on

septic systems. Recently, LAFCO staff facilitated a meeting involving County and City staff to discuss

costs and potential revenue sources related to municipal service provision and infrastructure


maintenance in the islands. Over the next few months, discussions will continue to ensure that the

interests of the County, city and residents are aligned. Approval of the agreements and initiation of

annexation are expected to occur in early spring.

F o s t e r i n g P a r t n e r s h i p s

The Commission continues to foster partnerships and enhance communications with local government

agencies and communities through LAFCO’s projects and activities. The following section provides an

update on LAFCO communication and outreach efforts conducted during the second quarter.

South Orange County Visioning Process

The Visioning Process involves stakeholder working

groups for two South County Study Areas: (1) Rancho

Mission Viejo (“RMV”) Study Area (the Cities of San Juan

Capistrano and San Clemente, Rancho Mission Viejo

Planning Areas, the unincorporated community of Ladera

Ranch, and the Santa Margarita Water District); and (2)

Rancho Santa Margarita (“RSM”) Study Area (City of RSM,

the unincorporated communities of Coto de Caza,

Wagon Wheel, Stonecliffe, and Las Flores, and the Santa Margarita Water District). Identified as a key

priority in this year’s LAFCO Work Plan, the South Orange County Governance Visioning Process over the

past several months has provided an opportunity for the stakeholders to discuss the future of local

governance for the study areas. Provided with volumes of background and financial data on service

costs and revenues for the study areas by LAFCO, during the second quarter, the working groups

reviewed how LAFCO jurisdictional changes and agency formations are processed and reviewed by the

Commission. A key meeting that occurred during the 2nd quarter involved an interactive discussion of

the criteria and variables for identifying viable governance options. While it was originally anticipated

that the last stakeholder meeting would occur during the 2nd quarter, both working groups have agreed

to continue meeting to discuss the development of communication and dataset that working group

members may use to engage respective boards and communities. At the conclusion of the stakeholder

visioning process, LAFCO staff will prepare a report on the process for Commission consideration.

2015 OC Collaborative Services Summit

Registration for the 2015 OC Collaborative Services Summit is currently underway! An exciting half-day

program, the Summit will take place on Thursday, February 26, 2015, beginning at 8:00 a.m. with a

networking breakfast at the Costa Mesa Country Club. The program has been designed to provide a

platform for government leaders to share and hear how collaborative service opportunities can work for

Orange County. During the second quarter, the Summit’s Planning Committee, comprised of

representatives from the County, cities, special districts, and the Orange County Transportation

Authority, worked diligently to put together an informative and action-oriented program for our

attendees. The program will open with keynote speaker Ted Gaebler, a recipient of ICMA’s prestigious

Management Innovation Award and author of Reinventing Government: How the Entrepreneurial Spirit

is Transforming the Public Sector.


Also featured will be a panel of elected and executive leaders that will offer their own personal

experiences of successes (and failures) involving collaborative services with other agencies. Featured

speakers will include: Councilmember Wendy Bucknam (Mission

Viejo), OC Sheriff Sandra Hutchens, Chief Executive Officer Darrell

Johnson (Orange County Transportation Authority), City Manager

Tim O’Donnell (Brea), General Manager Paul Cook (IRWD), and

Attorney and Firm Partner Sonia Carvalho (Best Best & Krieger LLP).

Our very own Commissioner John Withers will welcome the Summit

attendees and participate as a panelist to discuss LAFCO’s role as a

resource to local governments as they explore collaborative service

delivery.

Additionally, LAFCO has invited several cities, districts and other

organizations to partner with the Commission on hosting of the

event. To date, the City of Costa Mesa, Costa Mesa Sanitary District,

Irvine Ranch Water District, Mesa Water District and the Orange

County Transportation Authority have pledged support.

CALAFCO Legislative Committee

OC LAFCO staff continues to actively participate as a member of the CALAFCO Legislative Committee.

During the second quarter, staff participated in a quarterly Committee meeting held to discuss the

legislative priorities of the Committee in an advisory role to the CALAFCO Board. The Committee

identified multiple key focus areas that include an overhaul of the protest provisions for LAFCO

proceedings, LAFCO’s role in the review of joint power agreements that involve the provision of

municipal services and significant amendments to the statute for the disincorporation process. OC

LAFCO serves as a member of the working group tasked with drafting the disincorporation amendments.

During the 2nd quarter the working group met and presented both amendments and additions to current

state law to the legislative committee. The amendments are intended to clarify the needed information

in evaluating a disincorporation proposal and the responsibility of debts of the disincorporating city.

The next steps for this effort is review of proposed amendments by the CALAFCO Board followed by

outreach to affected stakeholders, including but not limited to, all 58 LAFCOs, League of California Cities,

CSAC, and CSDA. The next legislative committee

meeting will take place in February in Ontario.

The Legislative Quarterly Report, which provides

additional details on 2015 legislation of LAFCO interest, is under a separate report and will be presented

to the Commission at the February 11 meeting.

Coalition of California LAFCOs

The Coalition of California LAFCOs (“CCL”), comprised of Commissioners and staff of all southern LAFCOs

(Imperial, Los Angeles, Orange, Riverside, San Bernardino, and San Diego), continues to meet quarterly

to discuss and collaborate on regional and local issues. Commissioner Cheryl Brothers currently serves

as the Board Treasurer and Ben Legbandt, OC LAFCO Project Manager, is CCL’s Executive Officer. During

the second quarter, the CCL Board held its quarterly meeting on December 3, 2014 to discuss

anticipated legislative activities of the new session of the State Legislature that began on January 5,


2015. The CCL quarterly meetings provide an opportunity for the group to discuss regional issues and to

explore opportunities to share resources. Recently, the group discussed working with the Southern

California Association of Governments (SCAG) to ensure that there is special district input in the

preparation of long-range transportation planning documents.

Each year, CCL hosts an annual summit that provides an opportunity for Commissioners and staff to

network with colleagues from the region as well as connect with other organizations, such as the League

of California Cities and Institute for Local Government. Highlights of the summit will be included in the

3rd quarter CQ Report.

O C L A F C O M e e t i n g s a n d O u t r e a c h E f f o r t s

During the 2nd quarter, many of the outreach meetings and efforts involved highlighting the February 26

Collaborative Services Summit. The one-on-one and group meetings and presentations provide the

opportunity for LAFCO staff to keep County, city, special district representatives and other LAFCO

stakeholders apprised of key LAFCO events and projects.

Q 2 F Y 1 4 - 1 5 M E E T I N G S & O U T R E A C H E F F O R T S

O c t o b e r M e e t i n g s OCCMA Monthly Luncheon Meeting

HR Consultant to discuss staff retreat and development

Protest hearing for the Carmel/Lampson Reorganization

ISDOC Executive Committee Meeting

CALAFCO Meeting to discuss sphere session for annual conference

South County Governance - RMV Study Area Stakeholder Working Group Meeting #3

Conference call meeting with Ted Gaebler/Troy Butzlaff to discuss summit

ACC-OC City Managers Committee

OC Auditor Controller staff regarding AB 8 process and special district formation proceedings

CALAFCO Annual Conference (Oct 15-17)

Irvine Asst. City Manager to discuss OC LINC and shared services summit

LAFCO Consultant to discuss South County agenda for stakeholder meetings

Brea City Manager to discuss shared services summit

ISDOC Quarterly Meeting to present LAFCO Update and Shared Services

South County Governance - RSM Study Area Stakeholder Working Group Meeting #3

County COO to discuss potential annexation of La Habra islands

RMV staff to discuss LAFCO priorities/vacancies

ADA Title II Compliance Training

Training Partners to discuss County building safety and other issues

N o v e m b e r M e e t i n g s Exit interview with independent audit team, White Nelson Diehl Evans

Women Leading Government Coaching Teleconference

Presentation of Government Leadership Award to IRWD Board Sexual Harassment Avoidance staff training with BB&K

Shared Services Summit Planning Committee

OC Grand Jury for LAFCO 101

Center for Demographic Research Management Oversight Committee meeting

South OC Economic Coalition


D e c e m b e r M e e t i n g s

Swearing in ceremony for Supervisor Lisa Bartlett

CCL Board meeting

South County Governance - Rancho Mission Viejo Study Area Stakeholder Working Group Meeting #4

Center for Demographic Research Management Oversight Committee

Interview accounting firm to provide accounting services

CALAFCO Disincorporation Subcommittee

County IT staff to discuss office relocation transition

OCTA staff to discuss board room logistics

OCERS Plan Sponsor meeting

OC Planning Commission meeting regarding Esperanza Hills project

Southern California Association of Governments Technical Working Group

LAFCO Consultant to discuss South County Governance stakeholder meetings

Presentation of Government Leadership Award to YLWD Board

OCCOG Executive Director to discuss Shared Services Summit

CALAFCO Legislative Committee meeting

Moulton Niguel Water District to discuss Shared Services Summit

P r e p a r a t i o n o f O C L A F C O ’ s A u d i t e d F i n a n c i a l

S t a t e m e n t s

For the past thirteen years, an independent auditor has prepared OC LAFCO’s audited financial

statements. At the November meeting, the auditing firm, White Nelson Diehl Evans LLP, presented OC

LAFCO’s 2013-2014 audited financial statements to the Commission. The auditor did not find any

material issues relating to LAFCO’s accounting procedures and policies, current internal financial

controls, or office procedures. The Commission’s audited financial statements for the past nine years

are publicly available on the OC LAFCO website.

O C L A F C O R e l o c a t i o n – “ G e t t i n g S e t t l e d ”

Since the approval of the new office lease by the Commission in

September 2014, LAFCO staff has worked diligently on

relocation of the LAFCO offices to 2677 N. Main Street in Santa

Ana. On January 12, staff officially took occupancy and is

currently becoming acquainted with LAFCO’s new landlord and

neighbors. During the transition, only minor interruptions and

service provider adjustments were experienced and as the staff

settles in, the office is up and running. Presently the LAFCO

main telephone number (714.834.2556) is the same. However,

because that number is part of the County’s group numbers, we are required to change it. This change

will occur over the next few weeks and will be provided to the Commission and LAFCO stakeholders and

published on our website.


F Y 2 0 1 4 - 1 5 B u d g e t O v e r v i e w

This CQ report includes the second quarterly budget update for fiscal year 2014-15. The following

budget review of this report provides the Commission with the second quarter bank account balances

(see table below) and a comprehensive overview of LAFCO revenues and expenditures from July 1, 2014

through December 31, 2014 (see page 9).1

R e v e n u e s

The second quarter revenues ($27,856) includes a combination of funding agencies’ apportionments

($13,880), project application filing fees ($12,838) and interest from the agency’s investment portfolio

($1,126) and other miscellaneous revenue ($302).

F i n a n c i a l S t a t e m e n t s

The CQ report includes additional financial statements to better understand LAFCO’s financial status throughout the fiscal year. The following two financial statements provide a snapshot of LAFCO’s performance and details on the agency’s assets, liabilities, and equity.

B a l a n c e S h e e t 2

This financial document (see pages 10-11) summarizes the agency’s assets and liabilities during the month of December on an accrual basis, or when earnings and expenses are incurred.

C a s h F l o w S t a t e m e n t

This financial document (see page 12) provides information on the cash inflow and outflow the agency endured during the second quarter (October - December).

E x p e n d i t u r e s

The total expenditures at the end of the second quarter are approximately forty-six percent (46%) or

$456,962 of the total balance ($985,708). The following table shows the actual funds used and the

target levels for the current fiscal year.

Total Funds Used by Quarter

1st Qtr. 2nd Qtr. 3rd Qtr. 4th Qtr.

Target 25% 50% 75% 100%

Actual 23% 46% TBD TBD

1 All financial statements contained in the CQ report are on an accrual accounting basis. 2 Unaudited – Subject to Change

As of 9/30/14 Balance

Wells Fargo Checking $ 102,028

Wells Fargo Savings 210,381

770-Payroll Account 137,436

Total $ 449,845


I n v e s t m e n t R e p o r t

To maximize funds, LAFCO deposits apportionment fees in the Local Agency Investment Fund (LAIF) and

OC Fund accounts. Throughout the fiscal year, the bookkeeper and designated staff members withdraw

from the accounts to cover the agency’s operational expenses.

The following table illustrates the balance of LAFCO’s investment portfolio at the end of the second

quarter:

As of 9/30/14 Balance

LAIF $365,408

OC Fund $541,623

Total $907,031

To date, LAFCO has earned approximately $1,798 in interest which is approximately sixty-three (63%) of

the projected interest earnings for fiscal year 2014-15.


1st Qtr 2nd Qtr YTD TOTAL Funds Used Funds

Jul-Sep Oct-Dec TOTAL

FY 14-15

Budget (%)Comparison

($)

Revenue

(-) means funds

1 Revenue over expected 1

2 Transfer In from Unreserved Equity 56,175$ -$ 56,175 56,175$ 100.0% -$ 2

3 4000 - LAFCO Apportionment 912,803 13,880 926,683 926,683 100.0% - 3

4 4050 - Fil ing Fees 3,153 12,838 15,991 - N/A 15,991 4

5 4150 - Misc Revenue 290 12 302 - N/A 302 5

6 4200 - Interest & Dividends 672 1,126 1,798 2,850 63.1% (1,052) 6

7 Total Revenue 973,093$ 27,856$ 1,000,949$ 985,708$ 101.5% 15,241$ 7

10 10

11 Expense 11

12 Expenses (+) funds remaining 12

13 Expenditures (-) underbudgeted 13

14 5000 - Salaries 98,858$ 95,991$ 194,850$ 358,400$ 54.4% 163,550 14

15 5010 - Hourly Employees - 256 256 8,200 3.1% 7,944 15

16 5100 - Benefits & Insurance 16

17 5102 - Optional Benefit Plan - - - 15,000 0.0% 15,000 17

18 5104 - Executive Deferred Comp 861 963 1,825 6,700 27.2% 4,875 18

19 5106 - Retirement Benefits 25,915 29,375 55,290 124,000 44.6% 68,710 19

20 5108 - Health Care Insurance 11,983 12,530 24,514 60,740 40.4% 36,226 20

21 5109 - Retiree Health Benefits 3,295 3,034 6,328 13,000 48.7% 6,672 21

22 5110 - Dental Insurance 1,006 1,041 2,047 4,500 45.5% 2,453 22

23 5112 - Life Insurance 213 220 433 1,000 43.3% 567 23

24 5114 - Workers Compensation - - - 1,486 0.0% 1,486 24

25 5116 - Medicare 1,146 1,166 2,312 5,200 44.5% 2,888 25

26 5118 - Unemployment Insurance - - - - N/A - 26

27 5120 - Salary Continuance 271 289 561 1,300 43.1% 739 27

28 5122 - Accidental Death Insur 20 21 42 100 41.6% 58 28

29 5125 - Executive Employee Insur 1,800 1,800 3,600 7,200 50.0% 3,600 29

30 Total 5100 - Benefits & Insurance 46,511 50,439 96,951 240,226 40.4% 143,275 30

31 - 31

32 5150 - Information Technology 825 2,817 3,642 10,000 36.4% 6,358 32

33 5151 - Telephone 225 2,164 2,389 10,000 23.9% 7,611 33

34 5200 - County of Orange 255 84 339 5,500 6.2% 5,161 34

35 5250 - General Liability Insur 2,857 4,049 6,905 15,332 45.0% 8,427 35

36 5300 - Maintenance-Building 58 - 58 520 11.1% 462 36

37 5350 - Membership 7,657 7,336 14,993 29,000 51.7% 14,007 37

38 38

39 5450 - Office Equipment/Supplies 1,538 10,885 12,423 11,500 108.0% (923) 39

40 5500 - Professional Services - 40

41 5510 - Legal 14,088 9,173 23,260 50,000 46.5% 26,740 41

42 5520 - Accounting/Audit 15,636 12,561 28,197 37,900 74.4% 9,703 42

43 5530 - Human Resources - - - 1,000 0.0% 1,000 43

44 5535 - Mapping/Archiving 3,536 - 3,536 8,000 44.2% 4,464 44

45 5540 - Other Professional Service 11,040 10,868 21,908 75,000 29.2% 53,093 45

46 Total 5500 - Professional Services 44,300 32,601 76,901 171,900 44.7% 94,999 46

47 - 47

48 5550 - Investment Admin Fees 116 175 290 620 46.8% 330 48

49 5560 - Banking Fees - 342 342 - N/A (342) 49

50 5575 - CEQA Fil ings 50 - 50 - N/A (50) 50

51 5580 - SBE - - - - N/A - 51

52 5600 - Public Noticing 1,024 804 1,828 10,000 18.3% 8,172 52

53 5625 - Postage 1,019 694 1,713 3,300 51.9% 1,587 53

54 5650 - Office Lease 13,944 7,268 21,212 57,720 36.7% 36,508 54

55 5675 - Equipment Leases/Maint 1,468 1,647 3,115 7,240 43.0% 4,125 55

56 5700 - Commission & Staff Expense 1,197 2,254 3,451 8,000 43.1% 4,549 56

57 5710 - Commission Stipends & Taxes/Fees 3,386 3,618 7,004 16,300 43.0% 9,296 57

58 5750 - Staff Training 294 575 869 3,550 24.5% 2,681 58

59 5800 - Transportation/Travel 29 5,768 5,797 17,000 34.1% 11,203 59

60 5850 - Commission Meeting Exp 660 924 1,584 1,400 113.1% (184) 60

61 Total Expenditures 226,272$ 230,691$ 456,962$ 985,708$ 46.4% 528,746 61

62 Total Net Income (Loss) 746,821$ (202,835)$ 543,987$ -$ (543,987) 62

Orange County Local Agency Formation Commission

Quarterly Overview

October 1, 2014 through December 31, 2014


LOCAL AGENCY FORMATION COMMISSION ORANGE COUNTY

BALANCE SHEET

DECEMBER 31, 2014

Dec 31, 14

ASSETS

Current Assets

Checking/Savings

Cash and Investments

1000 · County Acct-Payroll 137,435.93

1025 · Wells Fargo Checking 102,028.09

1030 · Wells Fargo Savings 210,381.20

1040 · OC Fund 541,623.27

1050 · Investment Acct - LAIF 365,408.26

Total Cash and Investments 1,356,876.75

Total Checking/Savings 1,356,876.75

Accounts Receivable

Accounts Receivable

1200 · Accounts Receivable 0.01

Total Accounts Receivable 0.01

Total Accounts Receivable 0.01

Other Current Assets

Other Current Asset

1300 · Interest Receivable - Other 152.39

1375 · Prepaid Expenses - Other 19,265.76

1376 · Retirement Prepaid Expense 60,452.35

1550 · Due from Other Governments 0.10

Total Other Current Asset 79,870.60

Total Other Current Assets 79,870.60

Total Current Assets 1,436,747.36

Other Assets

Other Assets

1575 · Pension Deposit 115,783.78

1600 · Security Deposit 6,081.66

Total Other Assets 121,865.44

Total Other Assets 121,865.44

TOTAL ASSETS

1,558,612.80


LIABILITIES & EQUITY

Liabilities

Current Liabilities

Accounts Payable

Accounts Payable

2000 · Accounts Payable 10,982.67

Total Accounts Payable 10,982.67

Total Accounts Payable 10,982.67

Other Current Liabilities

Current Liabilities

2001 · Accrued Liability 2,205.00

2050 · Salaries Payable - OC (9050) 30,855.28

Total Current Liabilities 33,060.28

Total Other Current Liabilities 33,060.28

Total Current Liabilities 44,042.95

Total Liabilities 44,042.95

Equity

3000 · Unrestricted Net Assets 644,259.75

3050 · Restricted Net Assets

3950 · Reserve for Contingency 100,000.00

3960 · Reserve for Litigation 75,000.00

3970 · Reserve for Unfunded Liability 30,000.00

3980 · Reserve for Special Projects 19,054.00

Total 3050 · Restricted Net Assets 224,054.00

3900 · Retained Earnings 158,445.84

Net Income 487,810.26

Total Equity

1,514,569.85

TOTAL LIABILITIES & EQUITY 1,558,612.80


LOCAL AGENCY FORMATION COMMISSION ORANGE COUNTY

STATEMENT OF CASH FLOWS

OCTOBER 1, 2014 THROUGH DECEMBER 31, 2014

Oct - Dec 14

OPERATING ACTIVITIES

Net Income -202,834.61

Adjustments to reconcile Net Income

to net cash provided by operations:

Other Current Asset:1300 · Interest Receivable - Other -152.39

Other Current Asset:1550 · Due from Other Governments -1.48

Other Current Asset:1375 · Prepaid Expenses - Other -5,733.83

Other Current Asset:1376 · Retirement Prepaid Expense 63,570.61

Accounts Payable:2000 · Accounts Payable 10,982.67

Current Liabilities:2050 · Salaries Payable - OC (9050) 13,370.25

Current Liabilities:2001 · Accrued Liability 2,205.00

Net cash provided by Operating Activities -118,593.78

INVESTING ACTIVITIES

Other Assets:1575 · Pension Deposit -115,783.78

Net cash provided by Investing Activities -115,783.78

Net cash increase for period -234,377.56

Cash at beginning of period 1,591,254.31

Cash at end of period 1,356,876.75

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