The URL can be used to link to this page

Home My WebLink AboutBUDGET & FINANCE AGENDA 11-13-07 Central Contra Costa Sanitary District 5019 Imlloff Place, Martlllez CA 94553-4392 (925) 228-9500 . www centralsan 01 g BUDGET AND FINANCE COMMITTEE Chair McGill Member Nejedly Tuesday, November13,2007 3:00 p.m. Executive Conference Room 5019 Imhoff Place Martinez, California 1. CALL MEETING TO ORDER 2. PUBLIC COMMENTS 3. OLD BUSINESS 4. CLAIMS MANAGEMENT a. Review open claims or potential claims. ~ 5. REPORTS/ANNOUNCEMENTS a. Review 2007 CAFR. 6. REVIEW EXPENDITURES 7. ADJOURNMENT * Attachment A "4' Recycled Paper Central Contra Costa Sanitary District November 11, 2007 TO: Board Budget and Finance Committee James Kelly t)i1M.L Randall Musg~ves fl'i\ Debbie Ratcliff ~ VIA: FROM: SUBJECT: Comprehensive Annual Financial Report Attached for your review is the 2007 Comprehensive Annual Financial Report (CAFR). This report will be discussed at the November 13, 2007 Budget and Finance Committee meeting. Staff will be bringing the CAFR to the full Board on December 6, 2007, requesting approval to submit the report to the Government Finance Officers Association. Should you have any comments or questions, please call me at 229-7326. Document2 ehe An,n..1 Fr e Fiscal Year ended Ju.ne 30, 2007 CENTRAL CONTRA COSTA SANITARY DISTRICT MARTINEZ, CALIFORNIA COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED JUNE 30, 2007 Prepared By: Finance & Accounting Division (THIS PAGE INTENTIONALLY LEFT BLANK) CENTRAL CONTRA COSTA SANITARY DISTRICT Comprehensive Annual Financial Report Table of Contents For the Year Ended June 30, 2007 INTRODUCTORY SECTION: Letter of Transmittal............................................................................................... i Board of Directors................................................................................................ vi Mission Statement............................................................................................... vii Organization Chart.............................................................................................. viii Map of Service Area ....... ..... ........ ................ ..... ................. ...... ............................ ix Certificate of Achievement ..... ...... ... ...... .................. ... ... ...... .... ...... ........ ...... .... ... ... x FINANCIAL SECTION: I ndependent Auditors' Report............................................................................... 1 Management's Discussion and Analysis............................................................... 2 Basic Financial Statements Statement of Net Assets ............................................................................7 Statement of Revenues, Expenses and Changes in Net Assets................8 Statement of Cash Flows........................................................................... 9 Notes to Financial Statements - The accompanying notes are an integral part of these financial statements........................................................... 10 Supplementary Information Combining Schedule of Statement of Net Assets..................................... 30 Combining Schedule of Statement of Revenues, Expenses and Changes in Net Assets........................................................................... 31 Schedule of Running Expenses - Comparison of Budget and Actual Expenses by Department....................................................................... 32 Running Expense - Schedule of Supplemental Net Assets Analysis.. ................... .......................... ....... ..... ......... ... ........ 33 STATISTICAL SECTION (Unaudited): Changes in Net Assets and Statement of Net Assets - Last Five Fiscal years..................................................................................,................ S-1 Revenue by Type - Last Ten Fiscal Years ........................................................ S-2 Operating Expenses by Type - Last Ten Fiscal Years ...................................... S-3 Major Revenue Base and Rates - Historical and Current Fees - Last Ten Fiscal years............................................................................................ S-4 List of Ten Largest Customers - Last Five Fiscal years.................................... S-5 Assessed and Estimated Actual Valuation of Taxable Property - Last Ten Fiscal years............................................................................................ S-6 Property Tax and Sewer Service Charge Fees Levied and Collected - Last Ten Fiscal Years. .............. ............. ............................... ................ ......... S-6 Summary of Debt Service - Type, Debt Service Coverage, Debt Ratio - Last Ten Fiscal years.................................................................................... S-7 Demographic and Economic Data - Population Served - Last Ten Calendar years.............................................................................................. S-8 Full-time Equivalent Employees by Department - Last Ten Fiscal years.......... S-9 Number of Retirees and Surviving Spouses - Last Ten Fiscal years................ S-9 Capital Asset and Operating Statistics - Last Ten Calendar or Fiscal Years.. S-10 Miscellaneous Statistics.................................................................................. S-10 (THIS PAGE INTENTIONALLY LEFT BLANK) Central Contra Costa Sanitary District Introductory Section Central Contra Costa Sanitary District 5019 Imhoff Place, Martinez, Ca 94553 (925) 228-9500 . www.centralsan.org November 13, 2007 Central Contra Costa Sanitary District Ratepayers and The Honorable Board of Directors, Martinez, California: State law requires that every general-purpose local government publish within six months of the close of each fiscal year a complete set of audited financial statements. This report is published to fulfill that requirement for the fiscal year ended June 30, 2007. Management assumes full responsibility for the completeness and reliability of the information contained in this report, based upon a comprehensive framework of internal control that it has established for this purpose. The objective is to provide reasonable assurance that the financial statements are free of any material misstatements. Cropper Accountancy Corporation has issued an unqualified ("clean") opinion on the Central Contra Costa Sanitary District's financial statements for the year ended June 30, 2007. The independent auditor's report is located at the front of the financial section of this report. Management's Discussion and Analysis report (MD&A) immediately follows the independent auditor's report and provides a narrative introduction, overview, and analysis of the basic financial statements. The MD&A complements this letter of transmittal and should be read in conjunction with it. PROFILE OF THE GOVERNMENT History and Services Provided The District was established in 1946 under the Sanitary District Act of 1923 and is located about 30 miles east of San Francisco. The District builds, operates and maintains the facilities required to collect and process wastewater for approximately 314,000 residents of Danville, Lafayette, Martinez, Moraga, Orinda, Pleasant Hill, San Ramon, Walnut Creek and some of the unincorporated communities within Central Contra Costa County. The District also treats wastewater for 134,000 residents of the Cities of Concord and Clayton under a 1974 contract with the City of Concord. The District is committed to protecting the public health and preserving the environment while minimizing facility and operating costs. The District has approximately 1,500 miles of sewer pipeline, ranging in size from 6 inches to 120 inches in diameter, and 19 @ Recycled Paper sewage-pumping stations in the District's sewage collection system. The District is the sole provider of wastewater service within the District limits (see map of service area). Residents make up the largest segment of the District's customer base representing approximately 75% of the Sewer Service Charge revenue. The District's treatment capacity has grown from 4.5 million gallons per day (mgd) initiated in 1948 to 53.8 mgd currently. Bonds, state grants, federal grants, and pay-as-you-go resources of the District have financed expansions. The District also provides an alternative source of water for irrigation by producing high quality recycled water. Recycled water can safely be used on freeway landscaping, street medians, golf courses, athletic fields, parks, playgrounds, schoolyards and multi- family residential common areas. In addition to its wastewater responsibility, the District also teamed with Mountain View Sanitary District and other local governments to build and operate the first permanent Household Hazardous Waste (HHW) Collection Facility in Contra Costa County. The HHW Collection Facility is located adjacent to the District's wastewater treatment plant and seeks to keep pollutants out of the sewer system, making this facility an important part of our Pollution Prevention Program. Orqanization, Accountinq and Budqetarv Controls A 5-member Board of Directors governs the District. Board members are elected on a non-partisan basis and serve a four-year term. The Board appoints the General Manager, who in accordance with policies established by the Board of Directors, manages District affairs. The District employs 260 regular employees organized in four departments led by Department Directors responsible for their budgets and expenses. The four departments are: Administrative, Engineering, Operations, and Collection Systems. The District uses an enterprise fund to account for the operations of the District, which is run in a manner similar to private industry. The District currently has one enterprise fund which is comprised of four internal sub-funds: · Running Expense - accounts for the general operations of the District. Substantially all operating revenues and expenses are accounted for in this fund (also referred to as Operations & Maintenance or O&M). · Sewer Construction - accounts for non-operating revenues that are to be used for acquisition or construction of plant, property, and equipment (also referred to as the Capital Fund). · Self-Insurance - accounts for interest earnings on cash balances in this sub-fund and cash allocations from other funds, as well as costs of insurance premiums and claims not covered by the District's insurance policies. · Debt Service Fund - accounts for activity associated with the payment of the District's long term bonds and loans. ii Each year, the Board adopts the following six budgets: Staffing Plan, Capital Improvement, Operations and Maintenance, Equipment, Self-Insurance, and Debt- Service. The Board Finance Committee reviews disbursements prior to each Board meeting, and disbursements are then approved by the full Board. Monthly financial statements are issued to management and the Board. A detailed mid-year and annual budget analysis are prepared and presented to the Board. District management is accountable for variances and adhering to budget constraints. The District also has several documented financial policies that are reviewed and updated as appropriate. ASSESSING THE DISTRICT'S ECONOMIC CONDITION Local Economv and Outlook The current situation and outlook for California are similar to the nation as a whole. It is expected that the national and state economic growth will remain sluggish. The key factors behind the economic slowdown in California are mainly due to its more cyclical real estate market, and the higher than average gasoline prices and consumption. In fact, the intensity of these negative forces have been even greater in California than in the rest of the country. Home prices have flattened out, and have been declining. It is anticipated that the effects of the housing downturn will slow real consumer spending growth, residential construction will fall, real business investment growth will slow, inflation will continue to subside, and that interest rates are projected to dip modestly. In California, home sales and new construction activity fell by proportionally more than the rest of the nation, and the buildup of unsold home inventories suggests that further softness in building activity is in store. Of particular concern for a large portion of California homebuyers is the financial squeeze felt by recent home purchasers that have used variable rate loan financing. The use of nontraditional or "exotic" mortgages, many of which started with low initial payments, are now scheduled to adjust upward over the next few years. It is estimated that more than 50% of the homes purchased in California in recent years were financed with such nontraditional loans, roughly double the average for the rest of the nation. Of particular concern are unknown factors such as the duration of the market slump the duration of falling home prices. It is anticipated that these economic conditions and uncertainties will adversely impact the Districts' new permit and connection fees, property tax revenue, and interest income. On a more positive note, the District has an excellent reputation in all areas of public service, which include finance, collection, treatment, training, safety, technology, capital projects, construction and customer service. The Central Contra Costa Sanitary District has balanced revenue sources, adequate reserves, and a low debt obligation, which will enable the District to meet the demands of future budgets. The District has the ability to increase its Sewer Service Charge rates when needed to make up revenue shortfalls. iii Lonq Term Financial Planninq District management analyzes and updates their strategic plan annually, with the four main goals being: providing exceptional customer service, maintaining full regulatory compliance, maintaining responsible rates, and continuing to be a high performance organization. Strategies to achieve each of the goals are developed, as well as metrics to evaluate success. The District performs a 10-year long-term cash flow forecast each year shortly before the budget process begins. The main economic factors usually considered in long range forecasting are: the impact of state legislation and mandates, regulatory compliance, GASB requirements, negotiated salary increases and employee benefits including significant increases in retirement and health care costs, energy costs and interpreting the energy market, and housing growth. Maior Initiatives The District takes regulatory compliance seriously. Two of the areas the regulators are currently focusing on are sewer system overflows and mercury discharges to the San Francisco Bay. The focus of the District's capital investments has shifted in recent years from capacity improvements to renovation of our treatment plant, pumping stations and sewers to improve reliability, replace aging infrastructure and reduce overflows. In regards to mercury limits, regulators have recently approved a total maximum daily load (TMDL) that will set what will be the allowable mercury discharge to the San Francisco Bay. The TMDL will be used to calculate the allowable mercury to be discharged from each treatment plant, including our own, and may be significantly more restrictive than the current limit. The District has developed a two-pronged approach to addressing more restrictive mercury limits. First, we are focusing on controlling mercury at the source. In particular, the District will be implementing the mandatory installation of mercury amalgam separators in the dentist offices in our service area. Second, we are looking at ways to reduce the mercury contribution to our effluent from the air scrubber on our incinerator emissions. Both our renovation efforts and our effort to meet more restrictive mercury requirements will result in additional costs to the District. The District has won Platinum and Gold awards from the National Association of Clean Water Agencies (NACWA) for nine straight years in recognition of 100% compliance with our National Pollutant Discharge Elimination System (NPDES) permit. AWARDS AND ACKNOWLEDGEMENTS The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the Central Contra Costa Sanitary District for its CAFR for the fiscal year ended June 30, 2006. This was the seventh consecutive year that the District has achieved this prestigious award. In order to be awarded a Certificate of Achievement, a government must publish an easily readable and efficiently organized comprehensive annual iv financial report. This report must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. We believe that our current CAFR continues to meet the program's requirements and we are submitting it to the GFOA to determine its eligibility for another certificate. This report could not have been accomplished without the dedication and commitment provided by District staff. I would like to express my appreciation to the following employees who assisted in its preparation: · The Finance and Accounting staff who compiled the information contained in this document with a special thanks to Thea Vassallo, Accountant, and Colette Curtis- Brown, Finance Administrator. · The Reproduction and Graphics Team who creatively and professionally prepared this finished document. · Engineering and Operations staff who provided much of the statistical information included in this document. · The District's Board of Directors and Management Team for their support in preparing this document as well as their day-to-day support in conducting the financial operations of the District in a prudent and responsible manner. Respectfully submitted, Deborah Ratcliff Controller v CENTRAL CONTRA COSTA SANITARY DISTRICT BOARD OF DIRECTORS June 30, 2007 James A. Nejedly ............................................ President Gerald R. Lucey................................ President Pro-Tem Barbara D. Hockett............................................. Member Michael R. McGill............................................... Member Mario M. Menesini.............................................. Member vi Central Contra Costa Sanitary District di(~.1111~II;l~::'f:j:"" 'w',.,-",.,-,-"',...... OUR MISSION To protectthe public health and the environment by: · Collecting and treating wastewater · Recycling high quality water · Promoting pollution prevention yJ OUR VISION y~ Be a high performance organization that provides exceptional customer service and full regulatory compliance atrespon- sible rates. OUR VALUES y~ We will achieve our goals by valuing: · Each other · Ethics and integrity · A healthy and safe environment · Communityrelationships · Themeetingiof commitments · All aspects of diversity 0021.4103 ~" , :'1i'k'~' " 'ill vii I-- ~:S ~ In 08- ~ E ~ 0 -0 ~ cn~ ~ ra cn.c go ~ c 1--.2 z - o ra u N ~'; 1--0) z .... ~O tl -." .,- fI).~ ,,0 is'' u= ~ ,g viii l/l " o ii i'ii g> .5. E ::l D.. l/l " .Q ~ ., 0. o '" Qj IT: l/l " o "" ~t:: .,0 0.0. og. ",Ul Qj IT: ~ c;m Ill" 0::2 " .iij ::!: .l1 u ., oe- D.. ]j .5. III U m J::; " Cll U all Cl .~ ~t: o 8 <( " u.Q :516 .r~ .EO Q _ Wastewater collection and treatment and HHW collection for 314,400 people Wastewater treatment and HHW collection for 134,300 residents in Concord and Clayton by contract HHW collection service only .. CCCSD's Headquarters Office Building, treatment plant, and HHW Collection Facility located in Martinez . CCCSD's Collection System Operations Department (sewer maintenance) located in Walnut Creek ix Certificate of Achievement for Excellence in Financial Reporting Presented to Central Contra Costa Sanitary District, California For its Comprehensive Annual Financial Report for the Fis~al Year Ended June 30, 2006 A Certificate of Achievement for Excellence in Financial Reporting is presented by the Government Finance Officers Association of the United States and Canada to government units and public employee retirement systems whose comprehensive annual financial . reports (CAFRs) achieve the highest standards in government accounting and financial reporting. President ~~~ Executive Director x Central Contra Costa Sanitary District Financial Section Cropper Accountancy Corporation Certified Public Accountants 2977 Ygnacio Valley Road, #460 Walnut Creek, Califomia 94598 Tel: (925) 932-3860 Fax: (925) 932-3862 INDEPENDENT AUDITORS' REPORT To the Board of Directors of Central Contra Costa Sanitary District Martinez, California We have audited the accompanying basic financial statements of the Central Contra Costa Sanitary District as of and for the year ended June 30, 2007, as listed in the table of contents. These basic financial statements are the responsibility ofthe District's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the State Controller's Audit Requirements for California Special Districts. Those standards require that we plan and perform the audit to obtain a reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Central Contra Costa Sanitary District as of June 30, 2007, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in the United States of America, as well as accounting systems prescribed by the State Controller's office for special districts. The Management's Discussion and Analysis is not a required part of the basic financial statements but is supplemental information required by the Government Accounting Standards Board. We have applied certain limited procedures, which consisted principally of inquiries of management regarding the methods of measurement and presentation of the required supplementary information. However, we did not audit this information and express no opinion on it. Our audit was performed for the purpose of forming an opinion on the financial statements taken as a whole. The financial information listed as supplementary information in the table of contents is presented for purposes of additional analysis and is not a required part of the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements taken as a whole. The introductory and statistical sections, as listed in the table of contents, have not been audited by us and accordingly, we do not express an opinion on them. ~ ~ k~oc.\l\tq~y a~4"fio" CROPP~R ACCOUNTANCY CORPORA nON September 25, 2007 Central Contra Costa Sanitary District 5019 ImIloff Place, Martmez, CA 94553-4392 (925) 228-9500 . www.cenlralsan.OIg MANAGEMENT'S DISCUSSION AND ANALYSIS This section of the District's annual financial report presents an analysis of the District's financial performance during the fiscal year ended June 30, 2007. This information is presented in conjunction with the audited financial statements, which follow this report. FINANCIAL HIGHLIGHTS The District's 2006-07 financial highlights are listed below. These results are discussed in more detail later in the report. .. The District's total ending net assets increased by $21.0 million or 3.73% in 2006-07 when compared to fiscal year 2005-06 . Total revenues were $79.7 million in 2006-07 compared to $66.8 million in 2005-06 . Total 2006-07 expenses were $71.1 million compared to $64.2 million in 2005-06 . Capital Contributions decreased from $13.5 million in 2005-06 to $12.4 million in 2006-07 OVERVIEW OF THE FINANCIAL STATEMENTS This annual report includes the management's discussion and analysis report, the independent auditor's report and the basic financial statements of the District. The financial statements also include notes that explain information in the financial statements in more detail. REQUIRED FINANCIAL STATEMENTS The Financial Statements of the District report information utilizing methods similar to those used by private sector companies. These statements offer short and long-term financial information about its activities. . Statement of net assets - reports the District's current financial resources (short-term spendable resources) with capital assets and long-term obligations . Statement of revenues, expenses and changes in net assets - reports the District's operating and non-operating revenues by major source along with operating and non-operating expenses and capital contributions . Statement of cash flows - reports the District's cash flows from operating activities, investing, capital and noncapital financing activities 2 o Recycled Paper STATEMENT OF NET ASSETS The following table shows the condensed statement of net assets of the Central Contra Costa Sanitary District for the past two years: Condensed Statement of Net Assets Fiscal Year Fiscal Year Dollar Percent 2006-2007 2005-2006 Change Change Current Assets $ 80,148,191 $ 82,856,308 $ (2,708,117) -3.27% Capital Assets 543,622,261 518,189,113 25,433,148 4.91% Other Non-current Assets 5,506,090 5,868,954 (362,864) -6.18% Total Assets 629,276.542 606914,375 22 362,167 3.68% Lonj!;- Term Debt 27,949,270 30,107,732 (2,158,462) -7.17% Other Liabilities 17,591,395 14,037,226 3,554,169 25.32% Total Liabilities 45,540,665 44,144,958 1,395,707 3.16% Invested in Capital Assets, Net of Related Debt 513,580,658 486,098,303 27,482,355 5.65% Restricted - Debt Service 3,216,163 3,647,257 (431,094) -11.82% Unrestricted 66,939,056 73,023,857 (6,084,801) -8.33% Total Net Assets $ 583.735877 $ 562,769,417 $ 20,966,460 3.73% The total net assets of the District increased to $583.7 million in 2006-07, a $21.0 million increase from 2005-2006. The increase in net assets is the result of net income of $8.5 million and capital contributions of $12.4 million (shown in the next table). By far the largest portion of the District's net assets (88 percent) reflects its investment in capital assets (e.g. land, buildings, machinery, equipment, and sewer line infrastructure), less any related debt used to acquire those assets that is still outstanding. The District uses these capital assets to provide services to its ratepayers; consequently, these assets are not available for future spending. Although the District's investment in its capital assets is reported net of debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. There is currently $3.2 million restricted for debt service. The remaining balance of unrestricted net assets ($67.0 million) may be used to meet the District's ongoing obligations to its ratepayers and creditors. This space intentionally left blank 3 REVIEW OF REVENUES. EXPENSES, AND CHANGES IN NET ASSETS The following table shows the condensed statement of revenues, expenses, and changes in net assets for the Central Contra Costa Sanitary District: Condensed Statement of Revenues, Expenses, and Changes in Net Assets Fiscal Year Fiscal Year Dollar C Percent 2006-2007 2005-2006 hanl!e Chan2e Sewer Service Charges (SSC) $ 44,100,883 $ 45.164,785 $ (1,063,902) -2.36% Other Service Charl!es and misc. 1.657,238 1,273,568 383,670 30.13% Total Operatin!! Revenue 45.758.121 46 438,353 (680.232) -1.46% Customer Contributions (SSC) 15,945,915 9,862,620 6,083,295 61.68% Propertv Tax 11,762,731 4,836,301 6,926,430 143.22% Permit & Insoection Fees 1,615,308 2,062,216 (446,908) -21.67% All Other 4,574,156 3,562,386 1.011,770 28.40% Total Non-Operatin2 Revenues 33,898.110 20,323.523 13.574 587 66.79% Total Revenues 79.656.231 66.761.876 12,894,355 19.31 % Total Labor and Benefits 34,678,665 29,875,340 4,803,325 16.08% Chemicals & Utilities 7,024,986 6,024,001 1,000,985 16.62% Repairs and Maintenance 3,254,643 2,881,978 372,665 12.93% Professional, Legal and Outside Services 2.298,712 2,850,825 (552,113) -19.37% Materials & Suoolies 1,734,504 1,622,865 111,639 6.88% Hauling and DisDosal 850,439 944,187 (93,748) -9.93% Self-Insurance Exoense 519,284 879,513 (360.229) -40.96% All Other 1,444,082 1,080,946 363,136 33.59% Deoreciation EXDense 17.714,714 16,354,488 1,360.226 8.32% Total Operatin!! Expenses 69.520.029 62,514,143 7.005.886 11.21 % Non-OperatiTIl! Expense. Interest Expense 1,609,104 1,694,304 (85,200) -5.03 % Total Expenses 71.129.133 64.208.447 6.920 686 10.78% Income (Loss) Before Capital Contributions 8.527.098 2.553,429 5,973,669 233.95 % Contributed Sewer Lines 3,521,704 3,044,945 476,759 15.66% Capital Contributions - Connection Fees 8,917.658 10,496,898 (1,579,240) -15.04% Total Capital Contributions 12 439 362 13,541843 (1,102.481) -8.14% Chanj!e in Net Assets 20,966,46( 16,095 272 4.871,188 30.26% Bej!innin!! Net Assets 562769.417 546,674,145 16 095.272 2.94% Endine Net Assets $ 583 735,877 $ 562,769,417 $ 20 966.460 3.73% In 2006-07, operating revenues decreased by $0.7 million or -1.46%; non-operating revenue increased by $13.6 million or 66.79%. The change in total revenue resulted in an increase of $12.9 million or 19.31 %. The SSC rate increased in 2006-07 by 3%, and the Sewer Service allocation between operating and non-operating revenue changed in 2006-07, reflecting a $2.7 million decrease in SSC Operating Revenue and the $5.0 million increase in non-operating revenue. Also, billings to the City of Concord included in the SSC category increased by $2.7 million based on the city's share of higher treatment plant operations and maintenance costs and capital project expenditures. Property Tax revenue increased by $6.9 million due to the curtailment of property tax diversion from local governments to the State (see "Economic and Other Factors" section of this report), and a larger, growing tax base. In 2006-07, there were additional interest earnings of almost $0.8 million recorded in all other operating income mainly due to rising interest rates. 4 In 2006-07, operating expenses increased by $7.0 million or 11.21 %. This is mainly due to increases in total labor, chemical and utility costs, and depreciation expense. The District booked the first annual GASB 45 liability accrual in the amount of $3.2 million, which is included in employee benefits. Depreciation expense increased by $1.4 million reflecting increased capital additions. Non-Operating Income, which is made up of debt service interest expense decreased slightly. Total 2006-07 income before capital contributions increased from $2.6 million in 2005-06 compared to $8.5 million in 2006-07 for a net increase of $6.0 million or 233.95%. Capital contributions in 2006-07 were $12.4 million compared to $13.5 million in 2005-2006, resulting in a decrease of $1.1 million or -8.14%. This was mainly due to less sewer connections as interest rates rose and housing construction slowed. The total change in net assets increased from $16.1 million in 2005-06 to $21.0 million in 2006-07. CAPITAL ASSETS As of June 30, 2007, the District's investment in capital assets totaled $543.6 million, which is an increase of $25.4 million or 4.91 % over the capital asset balance of $518.2 million at June 30, 2006. Capital assets include all of the District's major infrastructure including wastewater treatment facilities, sewers, land, buildings, pumping stations, vehicles, and furniture and equipment exceeding our capitalization policy limit of $5,000, net of depreciation. A comparison of the District's capital assets over the past two fiscal years is presented below: Fiscal Year Fiscal Year 6 Dollar C Percent Ch C 'talA ap) ssets 2006-2007 2005-200 han2e am~e Land $ 17,114,720 $ 17,114,720 $ - 0.00% Sewage Collection System 226,796,748 211,857,529 14,939,219 7.05% Contributed Sewer Lines 144,151,897 140,630,193 3,521,704 2.50% Outfall Sewers 8,518,443 8,518,443 - 0.00% Sewage Treatment Plant 255,008,296 250,565,090 4,443,206 1.77 % Recycled Water Infrastructure 11,726,507 9,537,794 2,188,713 22.95% Pumping Stations 50,082,876 48,413,678 1,669,198 3.45% Buildings 19,537,601 13,624,912 5,912,689 43.40% Furniture & Equipment 12,951,529 15,129,348 (2,177,819) -14.39% Motor Vehicles 4,575,910 4,436,224 139,686 3.15% Construction In Progress 24,536,196 17,392,102 7,144,094 41.08% Subtotal 775,000,723 737,220,033 37,780,690 5.12% Less Accumulated Depreciation 231,378,462 219,030,920 12,347,542 5.64% Total Capital Assets (net of depreciation) $ 543,622,261 $ 518 189,113 $ 25,433,148 4.91% The major reasons for the increase of $25.4 million in capital assets, net of depreciation, are: · Sewer pipe ongoing renovations and contributed sewer lines ($18.5 million) · Construction In Progress increased by $7.1 million due to increased project activity · Building improvements, renovations and replacements ($5.9 million) · Treatment plant infrastructure renovations, upgrades, equipment, and improvements ($4.4 million) · Recycled Water Infrastructure and Pumping Station improvements/additions ($3.9 million) 5 · These increases are offset by booking disposals of Furniture and Equipment due to an extensive review of assets (-$2.2 million) and an increase in accumulated depreciation due to our increasing capital asset value and its associated depreciation expense (-$12.3 million) See Note #4 in the audited financial statements. DEBT ADMINISTRATION The District has the following outstanding debt as of June 30, 2007: 1998 Revenue Refunding Bonds 2002 Revenue Bonds Water Reclamation Loan Contract $ 13,700,020 14,830,000 1,770,340 30,300,361 $ See Note #6 in the audited financial statements. ECONOMIC AND OTHER FACTORS Changes in the state budget have an impact on the District. In the 2004-05 fiscal year, the California budget deficit was remedied by shifting local funds to the state. A shift of $5.7 million in property tax revenue was made from the District to the state. This tax-shift carried over into the 2005-06 fiscal year. The tax shift ended in the 2006-07 fiscal year, resulting in additional tax revenue of $6.9 million. Regulatory requirements are also becoming more stringent, causing the District to spend more on compliance, both for operations and maintenance costs and capital projects. In addition to making efforts to reduce spending, the District has the ability to raise the Sewer Service Charge to meet our long-term commitments. . FINANCIAL CONTACT The financial report is designed to provide oW' customers and creditors with a general overview of the District's finances and to demonstrate the District's accountability for the money it receives. If you have questions about this report or need additional financial information, contact: Controller, Central Contra Costa Sanitary District, 5019 Imhoff Place, Martinez, CA 94553. 6 CENTRAL CONTRA COSTA SANITARY DISTRICT Statement of Net Assets June 30, 2007 ASSETS Cunent Assets Cash and investments available for operations Accounts receivable Interest receivable Parts and supplies Prepaid expenses Total Current Assets Noncurrent Assets Restricted cash and investments Land, property, plant and equipment, net of accumulated depreciation Construction in progress Contractual assessment district receivable Revenue bond issuance costs, net of amortization Total Noncunent Assets Total Assets LlABllJTIES Current Liabilities Accounts payable and accrued expenses Interest payable Current portion of refunding revenue bonds Current portion of water reclamation loan contract Liability for uninsured claims Other postemployment benefits Accrued compensated absences Refundable deposits Total Current Liabilities Noncurrent Liabilities Revenue bonds, net of current portion Water reclamation loan contract, net of current portion Total Noncurrent Liabilities Total Liabilities NET ASSETS . Invested in capital assets, net of related debt Restricted for debt service Unrestricted Total Net Assets The accompanying notes are an integral part of the financial statements 7 $ 63,865,052 13,907,341 61,207 1,543,018 771,573 80,148,191 3,569,117 519,086,064 24,536,197 1,678,216 258,757 549,128,351 629,276,542 5,143,848 440,824 2,210,000 141,090 629,820 3,157,887 5,312,645 555,281 17,591,395 26,320,020 1,629,250 27,949,270 45,540,665 513,580,658 3,216,163 66,939,056 $ 583,735,877 CENTRAL CONTRA COSTA SANITARY DISTRICT Statement of Revenues, Expenses, and Changes in Net Assets June 30, 2007 OPERATING REVENUE Sewer service charges (SSe) $ 35,057,668 Service charges - City of Concord 9,043,215 Other service charges 793,395 Miscellaneous charges 863,843 Total operating revenue 45,758,121 OPERATING EXPENSES Sewage collection and pumping stations 10,332,732 Sewage treatment 21,438,368 Engineering 5,472,707 Administrative and general 14,561,508 Depreciation 17,714,714 Total operating expenses 69,520,029 OPERATING LOSS (23,761,908) NON-OPERATING REVENUES (EXPENSES) Taxes 11,762,731 City of Concord cash contributions to capital costs 3,435,512 Customer cash contributions to capital cost (SSC) 12,510,403 Permit and inspection fees 1,615,308 Interest earnings 3,257,773 Interest expense (1,609,104) Other income (expense) 1,316,383 Total non-operating revenues (expenses) 32,289,006 Income before contributions and transfers 8,527,098 Contributed sewer lines 3,521,704 Capital contributions - connection fees 8,917,658 CHANGE IN NET ASSETS 20,966,460 Total Net Assets - Beginning 562,769,417 Total Net Assets - Ending $ 583,735,877 The accompanying notes are an integral part of the financial statements 8 CENTRAL CONTRA COST A SANITARY DISTRICT Statement of Cash Flows June 30,2007 Cash Flows From Operating Activities: Receipts from customers and users Payments to suppliers Payments to employees Net cash provided by (used in) operating activities Cash Flows From Noncapital Financing Activities: Receipt of taxes Other income Net cash provided by (used in) non capital and related financing activities Cash Flows From Capital And Related Financing Activities: Capital contributions Connection fees Acquisition and construction of capital assets Principal paid on bonds Interest paid on bonds Net cash provided by (used in) capital and related financing activities Cash Flows From Investing Activities Interest received Net decrease in cash and cash equivalents Cash and cash equivalents, July 1 Cash and Cash equivalents, June 30 Reconciliation of operating loss to net cash provided (used) by operating activities Operating gain (loss) Adjustment to reconcile operating income to net cash provided (used) by operating activities: Depreciation expense Net book value on capital assets retired (Increase) decrease in: Accounts receivable Parts and supplies Prepaid expenses Increase (decrease) in: Accounts payable and accrued expenses Refundable deposits Other postemployment benefits Accrued compensated absences Net cash provided by (used in) operating activities Noncash investing, capital, and financing activities Contributions of capital assets End of Period: Unrestricted cash and equivalents Restricted cash and equivalents The accompanying notes are an integral part of the financial statements 9 $ 41,606,988 (11,878,232) (34,004,606) (4,275,850) 11,762,731 2,931,692 14,694,423 15,945,915 8,917,658 (39,768,810) (2,079,887) (1,793.559) (18.778,683) 3,961,292 (4,398,818) 71.832,987 $ 67,434,169 (23,761,908) 17,714,714 142.652 (2,493,895) 19,001 443,538 428,269- (38,935) 3,157,887 112,827 $ (4,275,850) $ 3,521,704 $ 63,865,052 3,569,117 $ 67,434,169 CENTRAL CONTRA COSTA SANIT AR Y DISTRICT Notes to Financial Statements Year Ended June 30, 2007 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Reporting: Entity The Central Contra Costa Sanitary District, a special district and a public entity established under the Sanitary District Act of 1923, provides sewer service for the incorporated and unincorporated areas under its jurisdiction. A Board of Directors comprised of five elected members governs the District. As required by accounting principles generally accepted in the United States of America, these basic financial statements present Central Contra Costa Sanitary District and its component unit. The component unit discussed in the following paragraph is blended in the District's repOlting entity because of the significance of its operational or financial relationship with the District. Blended Component Unit - Component units are legally separate organizations for which the District is financially accountable. Component units may also include organizations that are fiscally dependent on the District, in that the District approves their budget, the issuance of their debt or the levying of their taxes. In addition, component units are other legally separate organizations for which the District is not financially accountable but the nature and significance of the organization's relationship with the District is such that exclusion would cause the District's financial statements to be misleading or incomplete. For financial reporting purposes, the component unit discussed below is reported in the District's financial statements because of the significance of its relationship with the District. The component unit, although a legally separate entity, is reported in the financial statements using the blended presentation method as if it were part of the District's operations because the Governing Board of the component unit is essentially the same as of governing board of the District and because its purpose is to finance facilities to be used for the direct benefit of the District. The Central Contra Costa Sanitary District Facilities Financing Authority was organized solely for the purpose of providing financial assistance to the District by acquiring, constructing, improving and financing various facilities, land and equipment purchases, and by leasing or selling certain facilities, land and equipment for the use, benefit and enjoyment of the public served by the District. The Corporation has no members and the Board of Directors of the Corporation consist of the same persons who are serving as the Board of Directors of the District. There are no separate basic financial statements prepared for the Corporation. Basis of Accounting The District's financial statements are prepared on the accrual basis in accordance with accounting principles generally accepted in the United States of America as promulgated by the Government Accounting Standards Board (GASB). In addition, the District applies all applicable Financial Accounting Standards Board (FASB) pronouncements issued on or before November 30, 1989, unless those pronouncements conflict with or contradict GASB pronouncements. The District is a proprietary entity; it uses an enterprise fund format to report its activities for financial statement purposes. Enterprise funds are used to account for operations that are financed and operated in a manner similar to private business enterprises, where the intent of the governing body is that the cost and expenses, including depreciation, of providing goods or services to its customers be financed or recovered primarily through user charges; or where the governing body has decided that periodic determination of revenues earned, expense incurred, and net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. 10 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Enterprise funds are used to account for activities similar to those in the private sector, where the proper matching of revenues and costs is important and the full accrual basis of accounting is required. With this measurement focus, all assets and liabilities of the enterprise are recorded on its statement of net assets, all revenues are recognized when earned and all expenses, including depreciation, are recognized when incurred. Enterprise funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with an enterprise fund's principal ongoing operations. The principal operating revenues of the District are charges to customers for services. Operating expenses for the District include the costs of sales and services, administrative expenses, and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. For internal operating purposes, the District's Board of Directors has established four separate sub- funds, each of which includes a separate self-balancing set of accounts and a separate Board approved budget for revenues and expenses. These sub-funds are combined into the single enterprise fund presented in the accompanying financial statements. The nature and purpose of these sub-funds are as follows: Running Expense Running expense accounts for the general operations of the District. Substantially all operating revenues and expenses are accounted for in this sub-fund. Sewer Construction Sewer construction accounts for non-operating revenues, which are to be used for acquisition or construction of plant, property and equipment. Self Insurance Self insurance accounts for interest earnings on cash balances in this sub-fund and cash allocations from other sub-funds, as well as for costs of insurance premiums and claims not covered by the District's insurance coverage. Debt Service Debt service accounts for activity associated with the payment of the District's long term bonds and loans. That portion of the District's net assets which is allocable to each of these sub-funds has been shown separately inthe accompanying financial statements. The District's Board of Directors adopts annual budgets on a basis consistent with accounting principles generally accepted in the United States of America. 11 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30,2007 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Investments Investments held at June 30, 2007, with original maturities greater than one year are stated at fair value. Fair value is estimated based on quoted market prices at year-end. All investments not required to be reported at fair value are stated at cost or amortized cost. Prep aids Certain payments to vendors reflect costs applicable to future accounting periods and are recorded as prepaid items in the financial statements. Parts and Supplies Parts and supplies are valued at average cost and are used primarily for internal purposes. Property. Plant. and Equipment Purchased capital assets are stated at historical cost. Capital assets contributed to the District are stated at estimated fair value at the time of contribution. The capitalization threshold for capital assets is $5,000. Expenditures, which materially increase the value or life of a capital assets are capitalized and depreciated over the remaining useful life of the asset. Depreciation of exhaustible capital assets has been provided using the straight-line method as follows: Years Sewage Collection Facilities Sewage Treatment Plant and Pumping Plants Buildings Furniture and Equipment Motor Vehicles 75 40 50 5 -15 6 - 15 Defined Contribution Retirement Plans District employees may defer a portion of their compensation under a District sponsored Deferred Compensation Plan created in accordance with Internal Revenue Code Section 457. Under this Plan, participants are not taxed on the deferred portion of their compensation until it is distributed to them; distributions may be made only at termination, retirement, death, or in an emergency as defined by the Plan. The District does not make contributions to the plan. 12 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued) Defined Contribution Retirement Plans (continued) On August 20, 1997, the provisions of the Internal Revenue Code covering section 457 were amended to require existing plans to establ"ish trusts for assets of plans so that they would not be subject to the right of general creditors. The District amended its plan during the fiscal year ended June 30, 1999 to meet this requirement. Consequently, at June 30, 2007, the plans assets are held in trust for the exclusive benefit of the participants and are not included in the District's financial statements. The District also contributes to a money purchase plan created in accordance with Internal Revenue Code section 401(a). Contributions to the plan are made in accordance with a memorandum of understanding stating that in lieu of making payments to Social Security, the District contributes to the 401 (a) Plan an amount equal to that which would have been contributed to Social Security on behalf of its employees as long as the District is not required to participate in Social Security. The assets are held in trust and are not recorded on the books of the District. The District contributed $1,365,544 to the plan during the year ended June 30, 2007. Property Taxes Property tax revenue is recognized in the fiscal year for which the tax is levied. The County of Contra Costa levies, bills and collects property taxes for the District; all material amounts are collected by June 30. General County taxes collected are the same as the amount levied since the County participates in California's alternative method of apportionment called the Teeter Plan. The Teeter Plan as provided in Section 4701 at seq. of the State of Revenue and Taxation Code establishes a mechanism for the county to advance the full amount of property tax and other levies to taxing agencies based on the tax levy, rather than on the basis of actual tax collections. Although this system is a simpler method to administer, the County assumes the risk of delinquencies. The County in return retains the penalties and accrued interest thereon. Secured Property tax bills are mailed once a year during the month of October on the current secured tax roll, to the owner of the property as of the lien date (January 1). Payments can be made in two installments, and are due on November 1 and February 1. Delinquent accounts are assessed a penalty of 10 percent. Accounts, which remain unpaid on June 30, are charged an additional 1 Y2 percent per month. Unsecured property tax is due on July 1 and becomes delinquent on August 31. The penalty percentage rates are the same as secured property tax. Compensated Absences The liability for vested vacation, compensatory time, and sick pay is recorded as an expense when earned. District employees have a vested interest in 100 percent of accrued vacation time and 85 percent of accrued sick time for employees hired before May 1, 1985. Employees hired after May 1, 1985 have a vested interest in up to 40 percent of their sick time, based upon length of employment with the District. 13 CENTRAL CONTRA COSTA SANIT AR Y DISTRICT Notes to Financial Statements Year Ended June 30, 2007 1. SUMMARY OF SIGNIFICANT ACCOUNTING POUCIES (continued) Statement of Cash Flows For purposes of the statement of cash flows, all highly liquid investments, including restricted assets, with maturities of three months or less when purchased, are considered to be cash equivalents. Included therein are petty cash, bank accounts, and the State of California Local Agency Investment Fund (LAIF). Restricted assets are debt service amounts maintained by fiduciaries and not available for general expenses. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. New Accounting Pronouncements In July 2004, GASB issued GASBS No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions. This Statement requires local governmental employers who provide other postemployment benefits (OPEB) as part of the total compensation offered to employees to recognize the expense and related liabilities (assets) in the government-wide financial statements of net assets and activities. This Statement establishes standards for the measurement, recognition, and display of OPEB expense/expenditures and related liabilities (assets), note disclosures, and, if applicable, required supplementary information (RSI) in the financial reports of State and local governmental employers. Current financial reporting practices for OPEB are generally based on pay-as-you-go financing approaches. Current financial reporting practices fail to measure or recognize the cost of OPEB during the periods when employees render the services, or to provide relevant information about OPEB obligations and the extent to which progress is being made in funding those obligations. The District is required to implement the provisions of this Statement for the fiscal year ended June 30,2009 (effective for fiscal years beginning after December 31,2007). See note 10 for additional information. In December 2004, GASB issued GASBS No. 46, Net Assets Restricted by Enabling Legislation. This Statement clarifies that a legally enforceable enabling legislation restriction is one that a party external to a government-such as citizens, public interest groups, or the judiciary-can compel a government to honor. The Statement states that the legal enforceability of an enabling legislation restriction should be reevaluated if any of the resources raised by the enabling legislation are used for a purpose not specified by the enabling legislation or if a government has other cause for reconsideration. Although the determination that a particular restriction is not legally enforceable, it 14 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 1. Description of District and Summary of Significant Accounting Policies (continued) New Accounting Pronouncements (continued) may cause a government to review the enforceability of other restrictions, it should not necessarily lead a government to the same conclusion for all enabling legislation restrictions. This Statement also specifies the accounting and financial reporting requirements if new enabling legislation replaces existing enabling legislation or if legal enforceability is reevaluated. Finally, this Statement requires governments to disclose the portion of total net assets that is restricted by enabling legislation. The requirements of this Statement are effective for financial statements for periods beginning after June 15, 2005 (fiscal 2006). The District has implemented this statement with no significant impact on the financial statements. In June 2005, the GASB issued GASBS No. 47, Accounting for Termination Benefits. GASBS No. 47 addresses accounting for both voluntary and involuntary termination benefits. For termination benefits that affect an employer's obligations for defined OPEB, the provisions of GASBS No. 47 should be applied simultaneously with the requirements of GASBS No. 45 [GASBS No. 45 is effective in three phases, with implementation required for Phase 1 governments in periods beginning after December 15, 2006.] For all other termination benefits, including those that affect an employer's obligations for defined benefit pension benefits, GASBS No.47 is effective for financial statements for periods beginning after June 15, 2005 (fiscal 2006). The District has implemented this statement with no significant impact to the financial statements. In September of 2006, GASB issued GASBS No. 48. Sales and Pledges of Receivables and Future Revenues and Intra-Entity Transfers of Assets and Future Revenues. The District is required to implement the provisions of this statement for the fiscal year ended June 30, 2008 (effective for periods beginning after December 15, 2006). We do not expect this statement to have a material effect on the financial statements of the District. In November of 2006, GASB issued GASBS No. 49. Accounting and Financial Reporting Pollution Remediation Obligations. The District is required to implement the provisions of this Statement for the fiscal year ended June 30, 2009 (effective for periods beginning after December 15, 2007). This standard addresses current or potential detrimental effects of existing pollution by participating in pollution remediation activities such as site assessments and cleanups. The scope of the document excludes pollution prevention or control obligations with respect to current operations, and future pollution remediation activities that are required upon retirement of an asset, such as a landfill closure. This statement may have a material effect on the financial statements of the District. In May of 2007, GASB issued GASBS No. 50, Pension Disclosures - an amendment of GASB Statements No. 25 and No. 27. The District is required to implement the provisions of this Statement for the fiscal year ended June 30, 2008 (effective for periods beginning after June 15, 2007). This Statement aligns more closely the financial reporting requirements for pensions with those for other postemployment benefits (OPEB) and, in doing so, enhances information disclosed in notes to financial statements or presented as required supplementary information (RSI) be pension plans and by employers that provide pension benefits. 15 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 1. Description of District and Summary of Significant Accounting Policies (continued) New Accounting Pronouncements (continued) The reporting changes required by the Statement amend applicable note disclosure and RSI requirements of Statements No. 25, Financial Reporting for Defined Benefit Pension Plans and Note Disclosures for Defined Contribution Plans, and No. 27, Accounting for Pensions by State and Local Governmental Employers, to confonn with requirements of Statements No. 43, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, and No. 45, Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions. We do not expect this statement to have a material effect on the financial statements of the District. In June of 2007, GASB issued GASBS No.5!. Accounting and Financial Reporting for Intangible Assets. The District is required to implement the provisions of this Statement for the fiscal year ended June 30, 2010 (effective for periods beginning after June 15, 2009; for governments classified as phase 2 under GASBS No. 34, retroactive reporting is required for intangible assets acquired in fiscal years ended after June 30, 1980). This Statement requires that all intangible assets not specifically excluded by its scope provisions be classified as capital assets. Governments possess many different types of assets that may be considered intangible assets, including easements, water rights, patents, trademarks, and computer software. Intangible assets, and more specifically easements, are referred to in the description of capital assets in Statement No. 34, Basic Financial Statements - and Management's Discussion and Analysis - for State and Local Governments. This reference has created questions as to whether and when intangible assets should be considered capital assets for financial reporting purposes. The implementation of the provisions of this standard may have a material effect on the financial statements of the District. 2. CASH AND CASH EOUIV ALENTS Summary of Investments Investments as of June 30, 2007 are classified in the accompanying financial statements as follows: Cash and investments available for operations Restricted cash and investments Total Deposits and Investments $ 63,865,052 3,569,117 $ 67,434,169 16 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 2. CASH AND CASH EQillV ALENTS (continued) General Authorizations Limitations as they relate to interest rate risk, credit risk, and concentration of credit risk are indicated in the schedules below: Authorized Investment Type U.S. Treasury Obligations Banker's Acceptance Commercial Paper (1) Collateralized Certificates of Deposit County Pooled Investment Funds Local Agency Investment Fund (LAW) Maximum Remaining Maturity 1 year I year (2) 1 year (2) 1 year (2) N/A N/A Maximum Percentage of Portfolio None 40% 25% 30% None None Maximum Investment In One Issuer None 15% 15% 15% None None (1) Prime quality; limited to corporations with assets over $500,000,000 (2) Prior approval of the Board of Directors must be obtained to acquire maturities beyond one year Authorized Under Debt Agreements Maximum Maximum Maximum Remaining Percentage Investment Authorized Investment Type Maturity of Portfolio In One Issuer Federal Securities None None None Direct or indirect obligations of the following agencies of the USA: None None None Export-Import Bank None None None Farmers Home Administration None None None Participation Certificates issued by the General Services Administration None None None Mortgage-backed bonds or pass-through obligations issued by GNMA. FNMA, FHLMC, or FHA None None None Project notes issued by the US Department of HUD None None None Public housing notes and bonds guaranteed by the USA None None None Certificates of Deposit (fully insured by FDIC) None None None Commercial Paper - US Corporations (1) 180 Days None None Bankers acceptances (1) 270 Days None None State Investment Pool (LAIF) None None None Money Market Funds (1) None None None (1) Rated highest short-term rating by S&P and Moody's 17 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 2. CASH AND CASH EOUN ALENTS (continued) Interest Rate Risk Interest rate risk is the risk that changes in market interest rates will adversely affect the fair value of an investment. Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market interest rates. The District manages exposure to interest rate risk by purchasing a combination of shorter term and longer term investments and by timing cash flows from maturities so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide the cash flow and liquidity needed for operations. Information about the sensitivity of the fair values of the District's investments to market interest rate fluctuation is provided by the following schedule that shows the distribution of the District's investment by maturity: mvestment Type u.s. Treasuries Commercial Paper Cash Treasuries State Investment Pool (LAIF) Total Fair Value $ 4,940,661 20,373,359 2,351,032 3,569,117 36,200,000 $ 67,434,169 Maturity September 27, 2007 July to December 2007 N/A N/A N/A Credit Risk Credit risk is the risk that an issue of an investment will not fulfill its obligation to the holder of the investment. This is measured by the assignment of a rating by a nationally recognized statistical rating organization. Presented below is the minimum rating by the Califomia Govcmment Code, the Districts' investment policy, or debt agreements, and the actual rating as of the year-end for each investment type. Minimum Not Required Fair Legal ToBe Rating as of Year End Investment Type Value Rating Rated AAA A Unrated U.s. Treasuries $ 4,940,661 N/A $ 4,940,661 $ - $ $ Commercial Paper 20,373,359 A 20,373,359 Cash 2,351,032 A 2,351,032 Treasuries 3,569,117 A 3,569,117 State Investment Pool 36,200,000 N/A 36,200,000 Total 67,434, I 69 7,291,693 3,569,117 20,373,359 36,200,000 18 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 2. CASH AND CASH EOUIV ALENTS (continued) Concentration of Credit Risk The investment policy of the District contains limitations on the amount that can be invested in any one issuer beyond the amount stipulated by the California Government code (see General Authorizations above) Investments in anyone issuer (other than the United States Treasuries, mutual funds, and external investment pools) that represent five percent (5%) or more of the total investments are as follows: Investment Type Commercial Paper Commercial Paper Commercial Paper Issuer UBS Finance Toyota Motor Credit GE Capital Reported Amount $7,073,359 6,300,000 4,700,000 Investments in County Treasury - The District is considered to be a voluntary participant in an external investment pool. The fair value of the District's investment in the pool is reported in the accounting financial statements at amounts based upon the District's pro-rata share of the fair value provided by the County Treasurer for the entire portfolio (in relation to amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by the County Treasurer, which is recorded on the amortized cost basis. Investment in the State Investment Pool - The District is a voluntary participant in the Local Agency Investment Fund (LAIF) that is regulated by California government code Section 16429 under the oversight of the Treasurer of the State of California. The fair value of the District's investment in the pool is reported in the accompanying financial statement at amounts based upon the District's pro-rata share of the fair value provided by LAIF for the entire LAIF portfolio (in relation to the amortized cost of that portfolio). The balance available for withdrawal is based on the accounting records maintained by LAIF, which is recorded on the amortized costs basis. Custodial Credit Risk - Investments Custodial risk for investments is the risk that, in the event of the failure of the counterparty (e.g. the broker-dealer) to a transaction, a government will not be able to recover the value of its investment or collateral securities that are in the possession of another party. The California Government Code does not contain legal or policy requirements that would limit the exposure to custodial credit risk. The District's policy is to use the services of the Treasurer's Office of the County of Contra Costa, which will transact the District's investment decisions in compliance with the requirements of the District's policy. The County Treasurer's Office will execute the District's investments through such brokers, dealers, and financial institutions as are approved by the County Treasurer, and through the State Treasurer's Office for investment in the Local Agency Investment Fund. 19 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30,2007 3. ACCOUNTS RECEIVABLE At June 30,2007, accounts receivable are comprised of the following: City of Concord (see Note 8) Household Hazardous Waste Partners All other Debt Service Interest Receivable $ 12,719,908 553,023 546,539 13,819,470 87,871 $ 13,907,341 Total accounts receivable This space intentionally left blank 20 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 4. PROPERTY. PLANT AND EQUIPMENT, AND CONSTRUCTION IN PROGRESS Property, plant and equipment, and construction in progress are summarized below for the year ended June 30, 2007: Balance Beginning Transfer Balance of Year Additions Retirements from CIP End of Year A t Cost Capital assets not being depreciated Land $ 17,114,720 $ $ $ $ 17,114,720 Construction in progress 17,392,102 39,474,139 (32,330.045) 24,536,196 Total nondepreciated assets 34,506,822 39,474,139 (32.330,045) 41,650,916 Capital assets being depreciated Sewage collection system 211,857,529 (851,000) 15,790,219 226,796,748 Contributed sewer lines 140,630,193 3,521,704 144,151,897 Outfall sewers 8,518,443 8,518,443 Sewage treatment plant 250,565,090 (380,000) 4,823,206 255,008,296 Recycled water infrastructure 9,537,794 2,188,713 11,726,507 Pumping stations 48,413,678 (lO,OOO) 1,679,198 50,082,876 Buildings 13,624,912 (585,000) 6,497,689 19,537,601 Furniture and equipment 15,129,348 (3,528,839) 1,351,020 12,951,529 Motor vehicles 4,436,224 294,671 (154,985) 4,575,910 Total depreciated assets 702,713,211 3,816,375 (5,509,824) 32,330,045 733,349,807 Less accumulated depreciation Sewage system and lines 68,986,902 4,977 ,366 (851,000) 73,113,268 Sewage treatment plant 119,365,289 8,631,476 (380,000) 127,616.765 Recycled water infrastructure 2,656,081 431,829 3,087,910 Pumping stations 9,964,982 2,063,901 (lO,OOO) 12,018,883 Buildings 4,810,828 472,026 (585,000) 4,697,854 Furniture and equipment 10,357,487 766,063 (3,386,186) 7,737,364 Motor vehicles 2,889,350 372,053 (154,985) 3,106,418 Total accumulated depreciation 219,030,919 17,714,714 (5,367,171) 231,378,462 Total capital assets being depreciated, net 483,682,292 (13,898,339) (142,653) 32,330,045 501,971,345 Capital assets, net $ 518,189,114 $ 25,575,800 $ (142,653) $ $ 543,622,261 21 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 5. CONTRACTUAL ASSESSMENT DISTRICTS The District established the Contractual Assessment District (CAD) program to help homeowners finance the cost of connecting to the District. The construction costs associated with the project within the program are capitalized and depreciated. Individual homeowners are assessed an amount equal to their share of the construction costs and connection fee. The assessments plus interest are generally payable over 10 years. At year-end, the receivable balance was $1,678,216. 6. LONG-TERM DEBT Revenue Bonds - 2002 In May 2002, the District issued $16,565,000 of Revenue Installment Certificates for Wastewater Facilities Improvements, with interest rates ranging from 4.0 to 5.0%. The bonds are secured by a pledge of revenue. Principal payments are due annually on September 1, commencing in fiscal year 2005, and interest is payable semi-annually on September 1 and March 1 of each year. Refunding Revenue Bonds - 1998 In September 1998, the District issued $25,335,000 of Refunding Revenue Bonds with interest rates ranging from 3.5 and 4.7%. The Bonds are secured by a pledge of revenue. Principal payments are due annually on September 1, and interest is payable semi-annually on September 1 and March 1. The District issued the 1998 Refunding Revenue Bonds to advance refund the 1994 Revenue Installment Certificates, which had interest rates of 5.25 to 6.25%. The net proceeds were deposited in an escrow fund to service and redeem the 1994 debt. As a result, the advance refunding met the requirements of an in-substance debt defeasance, and the outstanding balance of the 1994 debt was removed from the District's accounts. The excess of the amount required to be deposited into the escrow fund over the net carrying amount of the 1994 debt resulted in a deferred loss. The deferred loss is reported as reduction of the new debt and is being amortized over the I5-year term of the new debt. Summary The changes in the District's long-term obligations during the year consisted of the following: Balance DefelTed Balance Due in July 1. 2006 Cost Deductions June 30. 2007 One Year General obligation bonds $30,472,392 $ 192,628 $2,135,000 $28,530,020 $2,210,000 Water Reclamation Loan 1.907.855 137.515 1.770.340 141.090 $32.380.247 $ 192.628 $ 2.272.515 $ 30.300.360 $ 2.351.090 22 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 6. LONG-TERM DEBT (continued) Debt Service Requirements The 2002 and 1998 Revenue Bonds debt service requirements are as follows: Fiscal Year Ending June 30, 2007 2008 2009 2010 2011 2012 - 2016 2017 - 2021 2022 - 2024 Total Amount representing interest Principal outstanding Less: Unamortized deferred loss on refunding year end Less: Current portion of revenue bonds Long-term portion of revenue bonds Water Reclamation Loan Contract 2002 Debt Service Requirement $ 1,270,961 1,271,061 1,265,261 1,263,561 6,331,070 6,339,822 3,811,500 21,553,236 (6,723,236) 14,830,000 14,830,000 (610,000) $ 14,220,000 1998 Debt Service Requirement $ 2,217,310 2,216,178 2,216,478 2,222,341 8,874,672 17,746,979 (2,826,979) 14,920,000 (1,219,980) 13,700,020 (1,600,000) $ 12,100,020 Total $ 3,488,271 3,487,239 3,481,739 3,485,902 15,205,742 6,339,822 3,811,500 39,300,215 (9,550,215) 29,750,000 (1,219,980) 28,530,020 (2,210,000) $ 26,320,020 The District has entered into a contract with the State of California State Water Resources Control Board (the Board), where the Board advanced to the District $2,916,872 for design and construction costs for projects related to recycled water treatment programs. 23 CENTRAL CONTRA COSTA SANIT AR Y DISTRICT Notes to Financial Statements Year Ended June 30, 2007 6. LONG-TERM DEBT (continued) Water Reclamation Loan Contract (continued) The District must repay advances from the Board over a 20-year period beginning March 31, 1999, with an interest rate of 2.6%. Debt service requirements are as follows: Years 2008 2009 2010 2011 2012 - 2016 2017 - 2018 Total Amount representing interest Debt Service Requirements $ 187,119 187,119 187,119 187,119 935,596 374,240 2,058,312 (287,972) 1,770,340 (141,090) Less: Current portion of Water Reclamation Loan Contract Long term portion of Water Reclamation Loan Contract $ 1,629,250 Local Improvement District Bonds Within the District's boundaries, there exist several Improvement Districts, which were formed for the sole purpose of financing sewer system improvements. The District has no oversight responsibility for these Districts and is not liable for repayment of any bonds issued to finance these local improvement districts. Contra Costa County acts as the agent for the property owners in these districts in collecting assessments, forwarding collections to bondholders, and initiating foreclosure procedures, if appropriate. The outstanding balance on these bonds was $135,000 at June 30, 2007. 7. RISKMANAGEMENT The District is exposed to various risks of loss related to torts: theft of, damage to, and destruction of assets; errors and omissions; injuries to employees; and natural disaster. The District joined with other entities to form the California Sanitation Risk Management Authority (CSRMA), a public entity risk pool currently operating as a common risk management and insurance program for the member entities. The purpose of CSRMA is to spread the adverse effects of losses among the member entities and to purchase excess insurance as a group, thereby reducing its cost. Through CSRMA, the District purchases property insurance and workers' compensation insurance. 24 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 7. RISK MANAGEMENT (continued) Insurance Coverage The District's insurance coverage is as follows: Type of Insurance Coverage All-Risk Property Fire Boiler & Machinery (Shared Limits per Occurrence) Liability Errors and Omissions Employment Practices Liability Employment Practices Liability General Liability Auto Liability Pollution (General Aggregate) General Liability (Occurrence) Pollution (Legal Liability Aggregate) (Claims Made) Workers' Compensation Excess Workers' Compensation Fiduciary Liability Liabilitv for Uninsured Claims Insurer Public Entity Property Insurance Program (pEPIP) PEPIP Insurance Company of the State of Pennsylvania (AIG) AIG Admiral Insurance Company AIG AIG American International Specialty Lines Insurance Co. American International Specialty Lines Insurance Co CSRMA National Union Fire Insurance Company Nation Union Fire Ins. Com Limits $ 488,258,480 $ 100,000,000 $ 10,000,000 $ 10,000,000 $ 1,000,000 $ 10,000,000 $ 10,000,000 $ 5,000,000 $ 10,000,000 $ 750,000 $ 50,000,000 $ 1,000,000 Self Insured Deductible Per Occurrence $ 250,000 $ 250,000 $ 500,000 $ 1,000,000 $ 15,000 $ 500,000 $ 500,000 $ 5,000 $ 50,000 $ 750,000 $ 5,000 The Governmental Accounting Standards Board (GASB) requires state and local governments to record their liability for uninsured claims in their financial statements. The District's uninsured claims activity and exposure relates primarily to its general and automobile liability program. The District records its estimated liability for uninsured claims in this area based on the results of periodic actuarial evaluations. The actuarial evaluations are typically performed every two years. For intervening years, the liability for uninsured claims is reviewed for adequacy based on claims activity during the intervening period. 25 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 7. RISK MANAGEMENT (continued) Liability for Uninsured Claims (continued) For the fiscal year ended June 30, 2007, 2006, and 2005, settlements have not exceeded insurance coverage. Changes in the District's estimated liability for uninsured claims for fiscal years 2007, 2006, and 2005 are summarized as follows: 2007 2006 2005 Beginning balance $ 881,500 $ 881,500 $ 437,360 Provisions for claims incurred in the current year and changes in the liability for uninsured - claims incurred in prior years (208,667) 198,292 551,188 Claims and claim adjustment expenses paid (43,013) (198,292) (107,048) Ending balance $ 629,820 $ 881,500 $ 881,500 8. AGREEMENT WITH THE CITY OF CONCORD In 1974, the District and the City of Concord (the City) entered into a cost-sharing agreement under which the District became responsible for providing sewage treatment facilities and services to the City. Under this agreement, the City pays a service charge for its share of operating, maintenance and administrative costs and makes a contribution for its share of facilities capital costs expended. Service charges and contributions to capital costs from the City totaled $9,043,215 and $3,676,693 respectively, for the year ended June 30, 2007. The District had the opportunity to make an unexpected capital purchase of real property adjacent to its existing treatment plant. The City of Concord's share according to the terms of the above agreement is $905,255. Because the purchase was unexpected, the District agreed to accept four equal annual payments beginning July 1, 2004, and thereafter annually on July 1. The interest shall accrue at 2.06% on a declining balance basis and each installment payment will be in the amount of $246,000. At the end of June 30, 2007, interest of $5,027 has accrued for a total receivable balance of $246,699. 9. PENSION PLAN Plan Description Substantially, all District full-time employees are required to participate in the Contra Costa County Employees' Retirement Association (CCCERA), a cost-sharing multiple-employer public employee defened benefit retirement plan (Plan), governed by the County Employee's Retirement Law of 1937, as amended. The latest available actuarial and financial information for the Plan is for the year ended December 31, 2006. The Contra Costa Employees' Retirement Association issues a 26 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 9. PENSION PLAN (continued) Plan Description (continued) publicly available financial report that includes financial statements and supplemental information of the Plan. That report is available by writing to Contra Costa County Employees' Retirement Association, 1355 Willow Way, Suite 221, Concord, CA 94520-5728 or calling (925) 646-5741. The Plan provides for retirement, disability, and death and survivor benefits. Annual cost of living (COL) adjustments to retirement allowances can be granted by the Retirement Board as provided by State statutes. Service retirements are based on age, length of service and final average salary. Subject to vested status, employees can withdraw contributions plus interest credited, or leave them as a deferred retirement when they terminate, or transfer to a reciprocal retirement system. Plan Contribution Requirement The Plan requires employees to pay one-half of the basic retirement benefit and one-half future COL costs. However, the District has paid the employee's basic contributions in accordance with the MOD. The contribution requirement and payment from the District for the plan year ended June 30, 2007 and 2006 was as follows: 2007 2006 Covered payroll for fiscal years ended June 30 $ 21,504,951 $ 20,687,905 Employer contributions to pension 8,045,860 7,202,912 Employee contributions to pension 861,387 811 ,220 Total Contributions $ 8,907,247 $ 8,014,132 These contributions represented approximately 41 % and 39% of covered payroll for the fiscal years ended June 30, 2007 and 2006, respectively, and were equal to the District's required contributions and the employee's basic contributions for each year. The actuarial valuation required by the Contra Costa County Employee Retirement Association has been prepared as of December 31, 2006 for the Plan's risk pool. The following information is disclosed to comply with Governmental Accounting Standards Board Statement 27 for cost sharing multi-employer defined benefit plans. 27 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30, 2007 9. PENSION PLAN (continued) Valuation Date Actuarial Cost Method Amortization Method Average Remaining Period Asset Valuation Method Actuarial Assumptions: Investment Rate of Return Projected Salary Increase Inflation Payroll Growth December 31, 2006 Entry Age Normal Actuarial Cost Method Level Percent of Payroll 16 Years declining forUAAL Market value of assets less unrecognized returns in each of the last nine semi-annual accounting periods. Unrecognized return is equal to the difference between the actual market return and the expected return on the market value, and is recognized semi-annually over a five-year period. The Actuarial Value of Assets is reduced by the value of the non-valuation reserves and designations 7.80% General: 5% to 11.75% (including COL, merit & longevity increases) 3.75 4.25 Plan Membership: Retired members and beneficiaries receiving benefits Terminated members entitled to but not yet receiving benefits Active members Total 6,646 1,919 9,210 17,775 The schedule of aggregate Funding Progress below shows the recent history of the Risk Pool's actuarial value of assets, accrued liability, their relationship, and the relationship of the unfunded liability (UL) to payroll. The Schedule is for information purposes only, and includes all employers in the risk pool. Risk Pool History of Funded Status and Funding Progress (Aggregate) Unfunded Annual ULas Valuation Accrued Actuarial Liabilities Funded Covered of Date Liabilities Assets (UL) Ratio Pavroll Pavroll June 30, 2004 $ 4,481,242,899 $ 3,673,858,074 $ 807,384,825 81.98% $ 619,132,218 130.41 % June 30, 2005 $ 4,792,428.024 $ 4,062,057.143 $ 730,370,881 84.76% $ 627,546,408 116.39% June 30, 2006 $ 5,293.977,010 $ 4,460,871,033 $ 833.105,977 84.26% $ 653,953,163 127.40% The aggregate unfunded liability increased from 730 to 833 million in 2006. The increase in mainly due to changes in economic and non-economic assumptions, offset by lower than expected salary increases and an actuarial value that exceeded 7.90% assumed in the previous changes. The schedule of employer required and actual Plan aggregate contributions for 2006, 2005, and 2004 were $179,755,315, $147,165,108 and $118,245,418, respectively or 100%, of which CCCSD's portion represents approximately .05%, or less than 1 %. 28 CENTRAL CONTRA COSTA SANITARY DISTRICT Notes to Financial Statements Year Ended June 30,2007 10. POST EMPLOYMENT HEALTH CARE BENEFITS The District provides certain health care and life insurance benefits for retired employees. These benefits are provided for in negotiated employment agreements, commonly referred to as Memorandums of Understanding, which cover substantially all employees who reach normal retirement age while working for the District. These benefits, and similar benefits for active employees, are provided through a health maintenance organization and an insurance company whose premiums are based on the benefits paid during the year. The District recognizes the cost of providing those benefits by expensing the annual insurance premiums, which were $1,842,113 for the 180 eligible retirees for the year ended June 30, 2007. The Government Accounting Standards Board (GASB) published Statement 45 in 2004 with an effective date of fiscal year ending June 30, 2009 for the District. Statement 45 requires a minimum expense called the Annual Required Contribution (ARC) equal to the actuarial normal cost plus amortization of the Unfunded Actuarial Accrued Liability (UAAL) over 30 years (or less) as a level percentage of increasing payroll. An actuarial study was performed by the District as of June 30,2005 and is currently being updated. The 2005 study estimated the Accumulated Postretirement Benefit Obligation (APBO) at June 30, 2006 to be approximately $53,390,573 (based on a 5% discount rate); however, the Expected Postretirement Benefit obligation (EPBO) is estimated to be closer to $65,291,269. The funding estimate would include a service cost and amortization of the unfunded APBO of approximately $4,871,551 over a 30 year period. In the Current year, the District set aside $3,157,887 to comply with the new accounting standard. The District is required to implement GASB 45 by June 30,2009. 11. COMMITMENTS AND CONTINGENCIES Commitments and contingencies, undeterminable in amount, include normal recurring pending claims and litigation. In the opinion of management, based upon discussion with legal counsel, there is no pending litigation which is likely to have a material adverse effect on the financial position of the District. Claims and losses are recorded when they are reasonably probable of being incurred and the amount is estimable. Insurance proceeds and settlements are recorded when received. The District has purchase commitments relating to construction projects at June 30, 2007 of $17,900,282. 29 (THIS PAGE INTENTIONALLY LEFT BLANK) SUPPLEMENTARY The accompanying notes are an integral part of the financial statements 30 CENTRAL CONTRA COSTA SANITARY DISTRICT COMBINING SCHEDULE OF STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS FOR THE YEAR ENDED JUNE 30, 2007 Running Sewer Self Debt Expense Contribution Insurance Service Elimination Total Operating Revenues Sewer Service Charges (SSe) $ 35,057,668 $ $ $ $ $ 35,057,668 Service charges - City of Concord 9,043,215 9,043,215 Other service charges 793,395 793,395 Miscellaneous charges 612,164 251,679 863,843 Total operating revenues 45,506,442 251,679 45,758,121 Operating Expenses Sewage collection and pumping stations 10,332,732 10,332,732 Sewage treatment 21,438,368 21,438,368 Engineering 5,472,707 5,472,707 Administrative and general 14,742,224 519,284 (700,000) 14,561,508 Depreciation 17,714,714 17,714,714 Total operating expenses 69,700,745 519,284 (700,000) 69,520,029 Operating Loss (24,194,303 ) (267,605) 700,000 (23,761,908) Non-Operating Revenues (Expenses): Taxes 8,110,935 3,651,796 11,762,731 City of Concord cash contributions to capital costs 3,435,5 I 2 3,435,512 Customer cash contributions to capital cost (SSC) 12,510,403 12,510,403 Permit and inspection fees 1,250,753 364,555 1,615,308 Interest earnings 860,14] 2,005,180 162,629 229,823 3,257,773 Interest expense (1,609,104) (1,609,104) Other income (expense) 346,237 970,146 700,000 (700,000) 1,316,383 Total non-operating revenues (expenses) 2,457,131 27,396,731 862,629 2,272,515 (700,000) 32,289,006 Income (loss) before contributions and transfers (21,737,172) 27,396,731 595,024 2,272,515 8,527,098 Contributed sewer lines 3,521,704 3,521,704 Capital conu.ibutions - connection fees 8,917,658 8,917,658 Transfers 39,522,516 (37,250,001) (2,272,515) Change in Net Assets 21,307,048 (935,612) 595,024 20,966,460 Total Net Assets - Beginning 517,692,822 42,923,643 2,152,952 562,769,417 Total Net Assets - Ending $ 538,999,870 $ 41,988,031 $ 2,747,976 $ $ $ 583,735.877 The accompanying notes are an integral part of the financial statements 31 - e b ~ ;:a ~ Eo< e- ~ Q Q ~ >- ,.Q ~ ~ '" < la ~ Eo< ~ fl - ~ C. Zr.l~t"- <CJlj;i/o OOe-o <.- ! N Eo< C..c ~ OO~<~ O~ q" U'S]~ ~q,,~~ Eo< "3 CJl zll-c 0'5= uCllE ~ Q ~ .~ Eo< ~ Z ~ ~ S' U Q U " ~ .!:! :E ~ E ~ 'g !? ~ > ~ " e ~ '::I S Ol ~ "t) 2 j ~ c3 <( " c O/)...~ ~ g g OJ f.) s: (I)~ ~~ ~ f-< ~~ ~d .- 0 ~'~ 1l.<I) " ., 0 0/)'::1 '" u ~ ., .,= <I) 0 u ,., r-- 00 r-: 00 - "" '" '" '" '" '" 00 '" "" '" '" c-- ..0 "<t c-- rri '" o 00 o '" - r-: "" o \0 "<t r-: '" co ..., \0 '" co vi' lI'l 00 rri ..., ~ '" ~ 'C ~ '" ., '!;j Ol <I) """ lI'l 0. \0 - lI'l 00 ,., ..0 00 00 r-: ,., ,., vi' '" r-- ,.: - '" o '" ..t 00 00 r-: - 00 c-- rri o lI'l '" r-- II") rri '<t '<t ..t 00 II") 00 o lI'l '" II") lI'l ..t 00 '" '" ~ t;: " " Q) trI ~ o i lI.l c-- ..., rri 8 '" 00 lI'l ..., 00 00 -..t lI'l '" co co -..t II") ~ " Q) 0. K lI.l 'C " co ~ '", ... 9 u Q) .!:l o 0;- 0\ II") 00 00 '" '" :!, o o :3 00 -. '" II") 00 o '" "'. - or> N \0 00 0\ 0\ "<t '" '" N '" N '" Ol u 'El e o o \0 8' or> - '" 8' or> 0\ c-- \0 00 '<t '" 0\ or> \0 vi' = lI'l \0 00 vi' <'"I 8 ..0 '" ., u 'E Q) <I) Ol ! 'C ~ Ol '" .5l ~ ~ o d:: 0\ \0 N - a- rt'i' r-: - 0 '<t N o 0 c-- \0 r-- \0 '" 0 vl 00 0" 011")", '" 0. 0 N - M"' 8 II") '" 0\ r--. - '<t 00 00 o '<t 00 ..., a- r-- ..0 ,., '<t ,., 00 '" ..0 r-- M a- '" '" '" '" N - <'"I 8' '" Q) u 'E ., (I) ., 'C .~ o '" ,., '<t o lI'l 00 lI'l 0 00 M r-- ,., ~ r-: II") '" '<t II") ~ 8 NO> 0\ M r-- ,., 00. \0 a- ,., - '" '" \0'" 00 r-- M lI'l '" r-: lI'l Ol 8- '" Q 'C ~ ~ ~ :I:: N' r-- lI'l ..t 0\ ~ ,., ~ ..t II") '" r: 0;- ~ '" :!, lI'l lI'l 0<< - '" "!. ;g II") ..t ,., r--. - c-- '" \0 ..t c-- M """ """ '" c-- '" 00 '" vi' ~ 00 '" c-- '" '<t c-- '<t '" vi' 00 \0 '" .~ 0. 0. ::l <I) 'C " CO ~ .t:: ., 'c;j ~ ,., M 00 '" """ o \0 0\ ..0 M 00 vi' r-- '" - ..r '" r-- vi' o II") 0\ '" '" 00 '" II'). - lI'l '" \0 00 r ..., '" '" '" 00 o '" G=l- \0 <'"I 0\0 lri\tJ """ 00 ~~ ....... lI'l ..., \0 '" '" :i '",," '" '" '" """ C-- ~ ~ " ~ ~ Ol 'U g '" t;: Q) oS ..... o 1ii 0. Ol 6h ., .S '" '" ..., r-- N'c-- r-- 0 '" r-- lf1N ,., r-- c--""" cilri' M '<t ,., '" vi' '" '" 0;-00 ,., \0 \D <'"I NoO r-- <'"I C"'*"o. '" g ... :. '" !l g 0/) '" .~ g 0. S o u u CO ~ '" II") "1. - '" ~ - lI'l <'"I <'"I ON S~ '" '" o lI'l ..0 """ ~ <'"I C-- '" '" 0",," vlrri' fj8 00 u oS o '" iE Q) " ... trI 'C ~ 'C CO Q) of ~ o 'C ... N ~ 's. CO U '" .9 CENTRAL CONTRA COSTA SANITARY DISTRICT Running Expense Schedule of Supplemental Net Assets Analysis June 30, 2007 Prior Year Balance 2006 - 2007 Revenue 2006 - 2007 Expense Add Back Depreciation Expense $ 13,790,205 $ 47,963,573 (69,700,745) 17,714,714 (4,022,458) Net Assets Attributed to General Operations 9,767,747 All Other Net Assets Running Expense Net Assets 529,232,123 $ 538,999,870 The accompanying notes are an integral part of the financial statements 33 (THIS PAGE INTENTIONALLY LEFT BLANK) Central Contra Costa Sanitary District Statistical Section Central Contra Costa Sanitary District Statistical Section Table of Contents Financial Trends These schedules contain trend information to help the reader understand how the District's financial performance has changed over time. Changes is Net Assets and Statement of Net Assets- Last Five Fiscal years..... ...... ........... ..................................... ...... ............ ........ S-1 Revenue by Type - Last Ten Fiscal years........................................................ S-2 Operating Expenses by Type - Last Ten Fiscal Years ..................................... S-3 Revenue Capacity These schedules contain information to help the reader assess the District's most significant revenue sources. Major Revenue Base and Rates - Historical and Current Fees- Last Ten Fiscal Years .... ......... ........ ........... ..... ... ... ... ...... ..... .......... .......... ....... S-4 List of Ten Largest Customers - Last Five Fiscal years.................................... S-5 Assessed and Estimated Actual Valuation of Taxable Property- Last Ten Fiscal years..................................................................................... S-6 Property Tax and Sewer Service Charge Fees Levied and Collected - Last Ten Fiscal Years ..................................................................................... S-6 Debt Capacity This schedule contains information to help the reader assess the affordability of the District's current levels of outstanding debt and the District's ability to issue additional debt in the future. Summary of Debt Service - Type, Debt Service Coverage, Debt Ratio- Last Ten Fiscal years...........................................:......................................... S-7 Demographic and Economic Information This schedule offers demographic and economic indicators to help the reader understand the environment within which the District's financial activities take place. Demographic and Economic Data - Population Served - Last Ten Calendar Years ............................................................................... S-8 Operating Infor",ation These schedules contain service and infrastructure data to help the reader understand how the information in the District's financial report relates to the services the District provides and the activities it performs. Full-time Equivalent Employees by Department - Last Ten Fiscal years.......... S-9 Number of Retirees and Surviving Spouses - Last Ten Fiscal years............... S-9 Capital Asset and Operating Statistics - Last Ten Calendar or Fiscal Years.. S-10 Miscellaneous Statistics.................................................................................. S-10 Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. The District implemented GASB Statement 34 in the 2002-2003 fiscal year; schedules presented include information beginning in that year. (THIS PAGE INTENTIONALLY LEFT BLANK) - - u c: 'C Q) ~ E c.s ~S eaUJ -"0 .- c: i ea UJ Ul ea1i:i - Ul Ul Ul Set - ea Q) ~Z S c: o Ul Q) ea C) ~ c: c: ea Q).I:. 00 Ul - Q) Ul Ul et - Q) Z .... o M o o N I N o o N ......C\lI'-C\lC\l o .OC'?...... 0 ......"<tOCO"<t r--:"':McD'cxi CD C\lC'? OC\l O'l. C'? CD .0 "<t. ...... CD O'l C'? C'? t.'7 "lI' o o N M o o N O'lC\lI'-"<tC\l O'lO......'O1'- COCDCD"<t.o Lrioicxio..f C'?O"<tCD.o O'l CD CD .01'- McD' ...: C'? "<t t.'7 It) o o N I "lI' o o N CDOI'-......"<t OOCOLO"<t COOCOCOLO N"MN"N"""': COOI'-......1'- C\lCDCDCD N"cD' 0 C'? "<t t.'7 co o o N ob o o N "<t......I'-......C'? I'-......C\I"<tLO 1'-0 CO I'-C'? .....: C'?' Lri r--: CO COCOLO......C'? 1'-C'?I'-LO"<t r--:r--: cD' C'? "<t t.'7 COLOLOC'?...... CD......O'l"<tC\l ..... CDC\lC'?CO...... o r--:MMC'?CO ~ LO"<tO'lCDLO .,. 0 0 I'- CO I'- CO Lrioi Lri o C'? "<t o N t.'7 Ul r- ea Q) > Iii u Ul u: Q) > u: IT CI) ~ rn rn rn Q) Q) Q) II) ~ ~~Q) ro ro ro :::l Gi .r::. .r::..r::.e II) O-oOOQ) II) ~ Q) .... Q) rn a; ~ ~ U 8.S:2 5 e::: (I) Q) '2: I:: c: Q)e Cl z>Q)OQ) e Q)CI)OCl)ro:;J 1::e:::Ci50....CD~ 1I)g>:s:~1?~~ ~~J5GO~~ co Q) ro .r::. a. .... uo ~ - Ul ea ...J ....... omo,....r-,....L()C") ,.... C\I.....C'?.....o....."<tC\l C\I COC"lCO......OCOC"l"<t o. oiLri..fr--:r--:r--:c-riLri ..... ......C"lCOLOOC\l"<t..... "<t O'l.....OLO"<tLOC\I"<t O. ..f Lri N" c-ri .,f' N" C"l C\I ...... LO...... CD 0 CO O'l C\I "<t O'l CO CD C'?.....O"ll'OO'lOCD O'l CDO"<t..........LOCOO'l C'? Lricx:iN""':..fcD'r--:eci" N" O'lOCO.....CDCOCD..... C\I o CO C\I CO "<t ...... C\I O'l C\!. cxi Lri N" c-ri Lri' eci" LO C\I LO ...... 0..... CD C'?LON"<t OLOCO.....O'lLOI'-C'? "<t.....C'?......CDLOC\lN oi"': 0 cD' oi.....:r--:eci" COO LO......co"<tC'?C\I O'lCOC'?...........O"<tLO r--:cD'N"c-ri"':eci" 'oi C\I ...... LO o CD LO LO C'? CO CD C'? 0" "<tCDNCD......CO"<t"<t O'l C'?COCO......LO"<tO'l...... ..... Lri cD' 0 eci" oi ..f o..f LO ....."<tLONNLOC'?...... ..... CO CD CO CO CD C'? C'? LO 0 oir--:N"c-ri eci"'N" cD' C\I ,.... c.o :s. LOOC\lNCO"<tC\lO'l CD O'l......CO............COC\l CD"<t.....O..........OO cxi oi cxi Lri 0 "<t' ..f 0 .....LOO'lOCO......"<tC\l CD..... N............I'-......LO "<t.cx:iN".,f.......r--:N"oi C'? ...... CD ~ tt:: rn Q) Q) I:: rn Q) I:: CD ~~ X rn W.!!1 .... Clro 1::- .- ro ~CI) Q) a. o Q) U I:: ro I:: Q) 1: rn 'm rn~~~ 41 '2: ~ ~ 2:Q)~~ :::l CI) .- ro CI) Q) ~ l:; ~:2~o rn en ~.... Q) Q):::l-""Q) rn ~O~5 a5 :;J~OQ) ~ ::l_a.UI:: W . ro .!!.! I:: 0 ..!!.!50~:;J Cl ro ._ ::l ro .... e .S:2 ::l ._I::_Cl ~ '0 1? ~ EQ) -~........ Q)o:::l~a.o~ 6ct~J5~~o ro ..... o I- O......OO'lO)"<tLO "<t C'? "<t I'- 0 "<t LO LO C'? N. CD. co. LO. C'? CD LO LO. ......C'?O'lLOMeci"M CD OC">I'-C\lLO.....CD ...... CO CO "<t O'l ....... 0 O'l O'l. a5r--:,....... ~~a5 UJ ....... ....... .....LOCO'OLO.......... C\lC\IO'l.................C\I C'?.....C\lC\I.......COC'? ai,...:cD~~,..:~ ......COC'?C'?OCD"<t O'l......O'lco......"<tC\l cxioN" ""':""':M ...... ....... C\I 0" O'l CD. "<t LO C'? O'l ...... OLOONr::-CDCD CD COCONO'lLO......C'? "<t C'? LO CD ....... CO ..... CD O'l. o eci" Lri oi Lri oi Lri 0 ............CD...........O"<t O'l O.....NLOI'-......CO "<t. ..q:~'V-~:S~M ~ ...... N ....... ......OCDLO"<t......O'l O'l ON......COOO N C'? CD C\I O'l C'? "<t N "<t. eci" N" N" Lri ..f eci" oi C'? C'? CD CD CD O'l O'l N LO COCOO"<tCDOCD LO ..foiN"N"~""':cxi N" co o O'l. ...... CD ...... C'? N ......LOCOC'?~C'?CD C">......o.....ocoo .....0'lC'?...........C'?0 N"LriLrir--:oieci"oi CD"<t......LOO......CO .....O'lCOC\lCOC'?C\I ~LO~M~"':N ,....,.... - M III III o ...J Cl .= ro .... Q) a. o en Q) rn I:: Q) a. III X rn Q) ~ I::~ rn .Q.... Q) :5 Q) ~ ..0-5 Q) III Eo 0> a;~5~E e:::rool::8 Cll- .... 0 e e >- Q) :;J :;J'l::Euiiiiii roo>o!!2O>....Q) ~c......- ~ ~e~5$~ oa..ool:: I I:: o Z Q) III I:: Q) a. x W Cl I:: ~ .... .... Q) Q)a. -50 oc': _ 0 <i:z ro .... o I- ....."<t C'? co LO. O. CO 0 ...... C'? COLO r--:Lri ...... C'? O'l. CO ...... o. CO CO"<t o CO co. O'l. o LO ...... CO "<tLO ..feci" CO..... "<t ...... co. ...... o CO C">C\I LO..... Lrio ...... LO CO "<t O'l O'l CO ..feci" "<t O'l O. "<t. C'? 0 ...... CO O'l o r--: N LO CO rn Q; - rn I:: ro .... I- -0 I:: ro III I:: o :;J :::l ..0 'C 1: o o Q) .... .E Q) CD Q) E o U I:: LO co ...... C'? I'- ...... ...... I'- O'l Lri N" ...... CO "<to NCOO'l oir-:cD' ......coo "<tLO C'?......."<t N.......C'? .....O'lCO Lrir-:c-ri ......OC\l 00'l0'l oieci"Lri ...... ON LO LO ......"<tLO ......C'?"<t LO CO ...... OM..f LOC\I..... ..... O'l CO oLrieci" NC\I"<t LO LO NLO..... ....."<t...... N......"<t Lri..foi O'l.....CO o CO..... eci"eci"N" ......"<tCO LO LO "<tCO OLO .....CO ~,..: C\I....... LO. O'l. C'? CO 0.......... CO........... "<t"<tCO eci"oiLri COCOC'? O'll'-..... ON"M C\lCDCO LOLO rn 0> 0> lJ.. I:: .Q ti 0> I:: I:: o ~O I:: ::J ~ Ci5 0 :s::S 0>..0 CI) 'C ..... -01:: Q) 0 "SO :@$ c"o. o ro 00 Cl I:: 'c Cl I:: I:: CI) 'OJ 'C 1-0>1:: WCDW CI) I . Cl)1I)1I) <(Q)Q) rn III t!i~~ Z(j)(j) zzz W$$ (900 Zl-I- <( I o ,.... N co,.... LO~,...."'" M ....... III C\!. ~ 00"<tC'?1'- OLOCO.....O NC">"<tOO'l . ... ... .. .. NC">"<tO'lCO O"<t LOO o"<t LO N t.'7 ......"<to'l"<t CO"<tC\lC"> '<t ...... O'l. O'l. CD. O......LOLOC"> OLOC">C">C\I ~ C\!. o. co. O'l. MC">C">O'lLO OLO COC\l o"<t LO N t.'7 LO"<tCOLO ......ON"<t II) ............1'-....... OLOCOO'l"<t 0..................... NC">.............CO . .. .. .. ... '<to'lC">"<tCO OCO I'-"<t o"<t LO N t.'7 C"l............... O~~~ ~~~~g ~~~O....... obeci"C'?~~ g~ LO N t.'7 ch CO C"> CO..... LO~~~ ..... CO . . . OOCOO'lLO Oco......C">C"> N LO C\!. O'l. ...... cbMC">~~ g~ LO N -0 ~ '3 CT ~ c: CIl -S 4; 'E CIl .l!! ~ ~ m E >0 Q) ~ 19 ocn t,.;'(ij ~ 'g _ CIl ~ J: 0::'C (") Q) g~ ~.a: ~ u o 'C N OJ ~o :s <:- .lll ...,. 'c (") CIl tOcn ~.lll t9 ;g uU ~ e Q) "E E 0 Q) U f~ ,- c: ~t3 ~ ~ Q) '" ~ 0 f-cn t.'7 .... ..0 0> o -0 Q) ro CD e::: - o Q) Z rn 1D '0) II) ::l .S:2 Gi<(c: g: ro 0> <( '5. ~ .....ro..o (1)00> rn ZeO (j) .....-.... III 2 ~ .E -0 <(rn 1::1::-00> (l)Q)0>~Q) E.s~~z .!~~~ro CO > 0>1::0 Cii.Ee:::::l1- t- o 0 N .;, 0 0 N ... 0 0 N .;, 0 0 N II> 0 0 N .t 0 0 N ... 0 0 N .;, 0 - 0 (,) N 'I: - '" Ul C 0 0 N ~ f! N 0 nI 0 CI) ca N ~ Q.CI) c >.> nI 1-- N en nI 0 >. 0 nI al (,) ~ - Ul 0 Ul CI) LL 0 0 ~ N 0 C C nI CI) CI) > I- ... ... 0 - CI) - 0 c D:: Ul N 0 nI 0 0 -I 0 0 ia N ... - 0 C 0 CI) 0 0 N a. '" ~ '" '" '" ... cO '" '" ... Q) '" '" ... .:. '" ~ Ql Q) U ::> .~ rJl c: Ql Q) > Q) 0) Q) CJ) Iii e::: .... J:: 0) Q) U J:: c: 0 :;::> ~ Ql Q) ~ a. <;> C .. Gl 111 c: > Gl 0 Gl >- Z a:: iii D 0)- "E (,) c 0 0 VI u:: ~~ u c: ;U 0 c. U 0 Q) ::> c: Q) > Q) a:: 0) c: ~ Qj a. o D rJl ::l o rJl Q) OJ C 0) ~ Iii wJ:: ~U ~ 0)..-10 LOCO NV........(") (")LO(")O)........LOLOvv NOOLONo)OOvOOI'-OO N'aiai.oaicOON'r--:M ~gjg~fin~~c;;;o~ Gl ~ C Gl > Gl a:: Cl C ~ C 0 OJ ;:iUu. ~ Q) ..... Glc:~ C.C_ 000 CUed o Z .... OJ :cc= o NV(")OI'-VI'-CO....(") COVNNNLOI'-....OOO (")OOCO..-LOCOOOl'-v(") N'ai o oo-N' cO r--:aicO cO 10 10 (")O(")I'-COOO).... LO_....(")VO_C!.V_.....C!.("). 'T""" 'T""" 'T""" ,.... 'T""" 'T""" tR- NOOOOOOOI'-I'-I'-I'-LO OOCOCOI'-CO(")....OONO) CO..-....NI'-OCOOOOO(") r--:.....:cO .r--:MOO-N'.oM vCOvO....(")vI'-LOO) 10 CO v CO CO CO CO CO 1'-1'- tR- COI'-NvOONNO..-LO VOOI'-OLOOO..-.... COvOI'-OvCOOON McON'Or--:..--aiMMM O)OOV..-O)NOOOOV CO 1'-(") COOO(")COCO (")0 -.i-.i.ocO.ocOcOcOr--:ai tR- OJ U .~ .rJl Q) OJ CJ) ~ Qj~ :!:U OJ CJ) NNCOI'-LO..-o)COvOO o (").... 101000>0 I'-CO 00_ 10 CO .... 00 .... 00 00 I'- CO V M.oC'iair--:.oN'''''':I'-- I'-COCO.... NCO(")OO 00 10 VO"-CONo)o)NI'-O N'MMr--:""':""':MN'r--:.o N N N N.(") (") (") (") (") (") tR- Ui OJ Qj C (")I'-OOO>....O>LONLO(") NvvLOO....O)OOI'- (")00 CO I'-I'-LON..-O)I'- N'r--:""':aia:i.o""':ai.or--: ONNI'-O)N(")....COLO 1'-..-0> 0) v 0>00 LOvN MMN-N'''''': ""':N'M tR- tR- 0) NOO..-l'-vN I'-VCO (") 1'-00 CON (")OO(")....CO (")N....NLOO)N(")....O) -.i .0 cO -.i 10- ai N' -.i ai N' ..-....OOOOOONo)LO(") (,,)vl'-O(")OLOO>LOLO -.i .0 .0 .0 10- r--: ai -.i N' 0 .... .... .... tR- .... . CD ~ E 0 o:s Ui.c ::J .~ Uc o U v LOCO N 0000(") (")100) (")000.... 10 1'-(") (")CO.... OOOOO)CO.... 10 vLOCO -.icOMcOcON-air--:r--:r--: 00 10(")(")0 100) VOCO NLOI'-COOCOLONO)v r--:cOaiaiai.o-.ioN'ai .,....,......-('\IT"""""" tR- :>. t: rJl OJ ~ a.ro el- Cl. 000> N..-O 1'-0........ VO)VCOOO(")NOOO(") I'- (") 0) CO_ 10_ N. (") (") (") I'- Mai-.iOO aiOcON O)COOO(") 100..-.... (")CO CO.... CON 1000 0)000 I'- .ocOcOr--:r--:aia:i-.i-.i""': .... 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 tR- 0 0 0 0 0 0 0 0 0 0 <A 0 0 O. 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 0) 0 .... N (") V 10 CO I'- 00 0) 0 .... N (") V 10 CO I'- 0 0 0 0 0 0 0 0 0 0 0) 0) 0 0 0 0 0 0 0 0 0) 0) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ro Iii 0) 0) 0 0 0 0 0 0 0 0 ro .... 0) 0) 0 0 0 0 0 0 0 0 0 O"l CO l'- (0 Ll) ... l") N ~ U .... ..- N N ~ N N N N N U ro .... ..- N N N N N N N N ~ W W W W W W W W rJl OJ ~ cO cb 0 N M ..t .0 cO rJl OJ ~ cO cb 0 I N M ..t .0 cO w u::: >- ..- u::: >- .... 0) 0) 0> 0 0 0 0 0 0 0 0) 0) 0) 0 0 0 0 0 0 0 SJellOa 0) 0) 0) 0 0 0 0 0 0 0 0) 0) 0) 0 0 0 0 0 0 0 .... .... .... N N N N N N N ..- ..- ..- N N N N N N N ui c .2 U. Ql I/) 8~ .... <> .!Cij C:~ ::lQ. 8l"3 -go <lie I/) Ql .~~ :af!?-ci -.EQJ gE"g :6'~ g ~"E .~ ~8(ij OSf!! .cO", jo~ C) 2:' .~ 50-:: Cij-c~ ~ i ~ ,2 -g -0 o:J.s ~u..E 8SE bU B c ::l <> ::3~10... o I/) Ql oca. o 8 ~ ":' (J)1o...>U'J U)QlQl _~-c o Ql I/) .~ ~ 53 a:;~E ~ f6 '5 E CUCTa> ~g~cv Q) : ~U5 ~=t~ Q) co 0 0 Q. J: C. c: x-mCtl wO....c 0lU) M u: .!;U)~-c ~OCl.l~ ::lc<("C C::.2(!J~ Qltc J:o.-ti -c.Cf.)'C ~~ ~~ Ql-CO ~~~ ~ .... :J 0 n:J ~g .s =2 6'0 ~c?5 U)!!!."C", C1Jca~cn -moo ~,g ~ ~ ~.58E ()"i:: 00 :seNt) '~8.!;~ Q) d; ~'E U) E'- Ql Qj.9.~~ ~1/)0l:S ~8m:s o .. U) - CJ 'i: - en CIl co.. ~~f ns >- ns :!::.cCll C en >- ns CIl _ (f.) en ns ns C CJ 1;) CIl ,!!! o 0.. LL o~lii f! CH- _C_ C ;; en o ns ns O;..J cuo.. bO C CIl o 88888888888888EA 00000000000000 00000000000000 00000000000000 00000000000000 0.00.00.00.00.00.00.0 l'-COCOLOLO'<t'<t('l)('I)NN............Ef7 Ef7Ef7Ef7Ef7Ef7Ef7Ef7Ef7Ef7Ef7Ef7Ef7Ef7 SJelloa I' o o N cD o o N CD o o N on o o N l/l Q) U '~ Q) C/) Q) "C 'w :J o ell Iii ,~ 5 ro 'W'o l/l Q) ~ c. o Q) C:o o 0 II) o o N .;. o o N 'Ot o o N M o o N .., o o N N o o N N o o ~ ... .... III o Gl ~ >- 'ii u III 't"'" u: o o N C o o N Ul ,!!1 a. a. ::::l C/) ell Ul Q) ~ s ~ c ui ro ro ~ u Ul 'E C Q):I: ..cCi) uC/) o mil o o o N a. Ql Ql .... Ql Ql Ql .... cO Ql Ql .... OJ U C ro C Q) c "m ~ ell Ul .... 'm a. $ Q) <;:::0::: Q) C Q) (D "C C ro Ul Q) .~ <ii C/) II co Ql Ql .... ...:. Ql Ql .... Iii Ul o a. Ul is ClID , !: ..c 'So ~<l: II ilB '" ~ l! GI Q. q C o z '" ~ l! GI Q. o S o I- (f.) w (f.) z W D- >< W (!) z i= <C D:: w D- o oll ii c o OJ "' oS! e 11. ii " "' u: .. ell .. C ell Q. .. W OOOONOlLOr--'<t o 00 00 00 '<t ...... LO 0 NOlLOr--('I)...... 00 ('I) ......~ONri.......o~ OOLOOLOOr--Ol ('I).('I)N.N.............r--CO. .. ell .. C GI Q. .. W oo......NCO......('I)oo'<t('l)Ol LOOLO......ooNCO('l)'<tN o co '<to LO o. '<t Ol N ...... 0 N~..-CO......'OCOCO~O N('I)LO'<tOr--l'-N......N r-- ('I) 00 Ol r-- '<to Ol LO LO LO o ri '<t- 0 0 N cO ai N ai '<t '<t '<t LO LO LO LO LO co co Ef7 ('I)O('l)OOLOLOOlNCON N 00 00 00 0 '<t 0 r-- '<t 00 Ol 0 co 00 co ('I) 00. N.. Ol o. OO~.o.ocONr--O'<t '<t N ('I) 00 '<t ...... '<t ('I) 00 '<t 00 Ol 0 0 r-- 0 o. '<to 0 '<t_ Ef7 o LO LO 00 '<t ...... '<t LO 00 '<t OLOr--..-Nr--OlLOoo...... N ...... Ol. 0 ...... 00 LO LO '<t r-- N.or-- ~rir-:co...... '<t.~ ('I) '<t LO 0 ('I) N 00 '<t LO ...... ('1)('1)......000 LO...... 0('1) l'- O......Nriri~'OCOCOr-: T""" T""" T""" T""" ..- T""" T""" T""" T""" T""" Ef7 N......NNOlr--N('I)('I)'<t Nr--......'<tLOOOOl......oo N('I)('I)N......Ol'-COLON N ~ ai '<to r-: N ai ai ai ai oo'<t......Nr--('I)oooor--...... LO co '<t Ol co co co ...... 00 LO Ef7 co l'- '<t co LO ...... Ol co LO N NNLONNr--'<tr--COOO 00 LOr--oo.('I)...... r--............ 0 N.ori...... cOr--...... cOcO.o '<t............Nr--LOr--......NO '<t ...... LO co '<t LO 00 r-- 00 ...... ri ~ ('I). ri ri ri ri ri ri ~ Ef7 .. GI " "i!: GI (/) GI ... i = o Olr--LO('I)COOoor--LON Oloor--OOO ('I) 0 00 N...... LO 00 ...... co 00 00 '<to ('I) 00 r-- 'O'OONO~NOOcO co '<t co co ...... 00 00 LO LO Ol O('l)LO r--...... ON ('I) 00 N NNNNNNNNNN Ef7 N N ('I) o LO '<t co ...... r-- aiaio '<t Ol ('I) ...... ('I) ...... ~~.o OOOlOO COr--r--LO 00 ('I) 0 r-- ai.ocO 0('1)0 o r-- 00 r--.o.o co co 00 cO '<t co r-: 00 N o cO Ol '<t r-: ...... o 00 cO Ef7 COOlO......'<tOCO......OLO ooN..................N('I)O'<tCO co '<t 00 Ol. ...... 00 co '<t ('I') co cO~~......cOai.oai.ocO o co ('I) LO '<t ...... Ol 00 r-- l'- ('I) LOOOOO 010 OlOO CO ai ai 0 N N. ~ cO r-: ai '<t- ............NNNNNNN('I) Ef7 ~ .. ~ 00 Ol 0 ...... N ('I) '<t LO co l'- 0l0l00000000 0l0l00000000 ............NNNNNNNN ~COmO,.!..NM~J,ch 0l0l0l0000000 0l0l0l0000000 ..................NNNNNNN '<t"O 0<1> ........c: . Q. Ol l! o tIl co. '0 ...... c:: (ij c:: o "" .. E .E .s; ('I) I C/) o Ol '<t ai LO r-- cO Ul C OJ E Q) ro Ci5 Iii '0 C ro C u::: "C 2 '6 ::::l <( ~ in is ~ ~ 'c ro C/) ~ Ul o U ~ C o U <ii .... C Q) u Qj e ::::l o C/) - CJ .~ ~ : c;: ~ 0:: af ea'C_ :!:: c C c ea C1) ea C1) t: en U) ~ J!~O U) C1) 'C o ~ c o c ea ea C1) - r- > CJea - C1) .- ~ 0:: 0 Or-- o .! ea 'Ci J: b::E c C1) o U) r- ea C1) > ea CJ .! LL. c C1) ~ - U) ea ..J 000 LO 0 LO M M N tI7 tI7 tI7 o 0 o LO N ~ tI7 tI7 o o ;; o LO tI7 :>SS lenUU\f ..... 0 0 N .D 0 0 N CD 0 0 N .;, 0 0 N ." 0 0 N ..t 0 0 N "" 0 0 N M 0 0 CO N - "50 M ca 0 () 0 . N N ... 0 1\I 0 CIl N ~ c;j (.) N 1/1 0 u: 0 ~ CJl ... c:: 0 0 0 :;:; N ca .... Q) ... a. 0 0 0 N . 0 0 0 N 0 0 0 N a. '" '" ... '" '" '" ... ... '" '" ... 00 '" '" ... ..:. '" '" ... o tI7 M . a. Q) v Q) COco ..... E CO CO 0 0 CO CO C") 0 u. Vv V V ..... ..... CO CO C") v_ ::l Q) MC") C") M r-... r-... 0) en a.. c:: Eh ..... ..... 0 N N . Q) >. Q) :!:: U. NNNNOOC")C")OC") "0 >. (Or-...r-...r-... CO co COCO lOCO - 101010 C")C")enen..... N ca "0 ~NNNMMMM..,;..,; LL. co a. <U () co COco CO 0 V CO N 0 0 en - COco 00 0 N V r-... 00 00 00 0 I- ..... ..... ..... N N N N N N N Eh ~ . Q) ~ ca ~ () Q) (.) "~ Q) co CJ) .... - ..... ..... ..... 10 0 ..... V co co co Q) "50 M C") C") ..... N V 10 r-... V r-... 3 co Eh Q) () CJ) co ::l c:: c:: <( CJl c:: 0 r-...r-... r-... 10 V r-... 00 V V C") :;:; co 1010 10 co 0 0 ..... 0 C") ..... .... ..... ..... ..... ...... N N N N N N Q) Eh a. 0 .... co en 0 N C") V 10 co r-... co Q) 0) en 0 0 0 0 0 0 0 0 >- 0) en 0 0 0 0 0 0 0 0 ...... .....NN N N N N N N co I I I I I I I I I I r-... ooeno ..... N C") V 10 co (.) en eneno 0 0 0 0 0 0 CJl en eneno 0 0 0 0 0 0 u: ..... .....N N N N N N N c: (ij 0 ::l n c: Q) ai c: c: Q) III c: 0 LL. c: U Q) III Q; c: '0 0 a. N III ,!!l a. 1ii Q) E 'iij c: Q) ::l 0 !:::.. D- u III III <Ii "C Q; Q) Q) Q) III LL. e> ::l ~ III (ij .c '0 '0 U III ~ Q; a. E III III U 1/1 E ~ ~ 0 (.) ... '0 Q) .E III III LL. "C Q) "C ~ e> ..!!! ~ III (ij .c ';> U U III Q) III 0, .c Q) I- Q) III LL. ~ U 'E (5 Q) 1ii .c E 0 Q) ~ III Q) ::l 0 ;; 0 Ci .c .c Q; E u III a. :s ~ Q) c: V > LL '0. .s 0 en 0 u III 'iij .D U "C ';> III ;. Q) c: "C "C 0 ~ (jj Q) Q) III e> Q) ~ c: ~ .c u III ~ III .c '~ Q) :0 u III ::l Q) e> u ~ III CI) III 0 III c: (ij .c 0 E 0 0 :; 'E ~ Q) ~ Q; 1ii 1ii Q) '~ a. >. Cl E CI) c: Q) c: e Q) Q; '0. III Cl ';> Q; III Iii E III ::l c: :;: ::l :;: a. W Q) Q; Q) Q; '0 III Iii 1ii 'C (ij III Iii 1ii ::l :;: ~ :;: 0 c: - Q) c: 0 Q) 1ii ~ III Q) ;; III .lll Iii E .s :;: ::l 'c ;;::: (5 "C Q) III III > .Sl Q; CI) >. "C 0 .c III III ~ Q) :;: 1ii a. c: III l'.! ::l c: III 0 III 0 ~ c u c: III 0 0 ~ ::l Q) ~ III - 0 E ,~ 0 'E 0 III Q) 0 III c: 0 III 0 ~ c: () (ij c: .c Q) 8 0 :;: E ~ ~ "C III 0 Q; 'E Q) Q) Q; 1ii III a. Q) "C III III ::l U "iij .D ::l 0 ,!!l ~ Q) :;: :;: Q) ~ ~ Q) Q) Q) <l: z z !:::.. ::l ~ N M 0 . . . CI) if ll:~>1 8 ~ - :;;0 M ll. o o N N o o N Cc> " c: ll:~=~1 E~ _ 8 ~ :;;0 .... ll. o ~ ~I M o o N - o ";: - III III ... i5 CI) ~CI)EIIl ca e>>.s ;; - ca III CI) "c .c :;, >- caoO_ Cl)CI)-ca ca 0 ~.~ Ui .~ ~ ii: o CI) ca CI) oCl)...J> ~"';ii: C~I-- o~-Xl OCl)o...J Cc> ~,E ~I - ~ cv> m 8. 4l ~ 0 a:: :g ll. o N .... o o N iii ... - r::: CI) o - III ::i Cc> " c: ll:"'C::a;\ E~ _ 8 8. :;;0 CD ll. o o N , It) o o N ~ ~ ll:~=~1 ~~ - Iii 8- ~o .... ll. o o N cb o o N *"#-'#?F.~?fl.~~rfl. ~:g~:?l~~~~~ (000000000 :>2. o ,N N o ~I NC'?....Lt)(O....0>00 o ..-- NO>(OGO....(')O..--.... Lt)..--....ONO>GONO> .~ ll:~a;1 ~~:J~~~~ri~ i!! - NNOO>Lt)C'?NOO Q) ('t')NN..........,....,.............. g cD <fl .... o (') cD '00 'f;;cf!.?fl.?f!.?fi.?f!.'Cf? GOONooO>Lt)(') , (0 (0 Lt) .... (') (') Lt) , , , , , , ..--000000 ';fl.'#. .... (') NN 00 :>2. o N (') o (')N....Lt)(O....O>O ..-- 00 C> "'I .5 :J _ c: l!! '" ~ ~ o ll: NNO....OO>ONO O....ONO(ONN.... (0........(00..--....00(0 o)Ocx:iN..tLl'icx:i -r-: 0Lt)Lt).... 0.... (')..--0> CONNNN............... cD <fl N ..-- 0> ..t , (') , ?f!.~?fi.cfl.cfi?f!.~-;l?. vMCONNO>CoO '<1:.... (0(0 Lt)(')(')(') (00000000 rf??f!. ,Lt)Lt) N (') 00 ~I NC'?....Lt)(O....O> OGO ..-- 00000....00> o....o(Oot--OLt) C>ll:S!:ii~1 O(OOt--OOoo.... :E ... ri-.:icOoio05N"o ~ omcov--LOvC'\l 8. <ONNNNT"""""""'" o cD <fl (ON t--(O 0>0 00) 10M I ..-- ..-- ~?f!.?f!.?f!. ~lblb;jl; Lt) , , , ..--000 cfl.cf!.?fi. Lt)t--..-- ....(')(') 000 ?f!.?ft?f!. Lt)t--O NN(,) 000 ~1..--N(')....Lt)(Ot-- 00>00 ..-- ..--(')000(00 ..--t--N(oO..--O g>ll:~ii:1 0................00)00 ~ : ggg~gffi~ ' 8- ~NNNN""'__ <fl o>....N ..--0(0 ..--0>0 r-:cDo) .....C\I('W')I ..--..-- ..-- *''#.?ftcf!.?f!.cf!.?f!.?f!. ~f2{O:g~~~~ 0>0000000 cf!.?fl. 00Lt) NN 00 ~I N(')....Lt)(Ot--ooo>O ~ ~I l!! '" 8. ~ o ll: Lt)..--(OOOO(')O(')Lt)(') ..--Lt)000Lt)0>0>0Lt)Lt) N(')(Ot--t--N(,)(,)(,)GO MN..tr-:cDcDr-:cx:ir-:N vNOLO""''''''''vNN--1 O('l")('l")('\JN..-.,....,............... 0) <fl I V) Q) U '2: Q) en Iii Iii l[ilii Cl-5 z.::: C.l<: . 5 3l 'OU... gcoU c:1i)'S 88~ O~:S: z.'Eu; u8iI: Iii :J '5 ::: .l<: Q) Q) o V) . 'E . Q) V) E 'E t Q) co E c. t:: V) <( COE ~2i~~:~ E l[i 0 0 ~ E guU:I:co.g U 0l~5C::: 5 ,~ Q) :;::; C U >- :J Iii co c. = co co U c::: Q) c.O'Oen'E C Iii >-~ ,g U 5 V) '0 ~:S:.!!l :gen_V) 0 50. Q)'01ii 0 V) ~u.:;::; C C:::c>U;:;:coliiuO -t: 8 C ~ g ::: .!!2 :1 ~ m ~ ~ ~ .- ~ ro m ro a.enen<(:S:en~c:::u :>2. o Lt) .... oi ..-- .... .... ~ t-- (0 (0 r-: <fl <f!. N (0 oi ..-- ID (') M 0> ..-- cx:i <fl :>2. o N (0 o N .... o 00 ..t 00 N cx:i <fl :>2. o (0 (0 oi ..-- Lt) rh Lt) (0 00 cx:i N 0) <fl :>2. o 00 (0 M N c:: -ci 0 >. ~ '" 'S [j <7 'tJ ~ c: c: '" '" 'E :5 0 ~ " c: '" c: :;:: 0 0 '" l> 'iij '" 'S: ~ .e is '" '" :;; U) >> 10 '" '" " c: ~ '2: 0 Q) '" ..: 1;; en '" '" '" ~ ro m >> - c 0 '" m '" >> '" " E U) U) m c: "" 0 " '" a. U) e 0 U) "" 'S: 0 '0 .... c: N 'tJ 0 w N c: 0 :g 0 '" N 0 10 cD N 0 1;; '" ~ 0 is N :5 B C> ~ ,~ 'E c: '" 'C: "" ... 0 '" c: '" " 'tJ '" III c: U) en ~ 0 E '" l> '" 1;; (9 '0 '" 0 'tJ ~ 'E l> '" 0 l!! C l> 'tJ C Q) Q) c: E :5 0 0 Q) " l> 0. J: B ~ "" ,E ~ 'C '" c: 13 13 t: Q) 'C: l!! Q) l> > 1;; c c: Qj is 0 0 ~ Q) l> l> '" J: 0 l- V) _.~---_._---_.__._--_.__._- .... o 0> cD (') 00 o ..-- <fl Iii '5 I- ~ 1:: (I) a. o '- a. (I) .c - ns CJ >< .t: ns 1;)1- c'O ~c:~ ns .2 ns - - .., .- co '" ~::s> rnmco co > CJ - .~ t/) co u.. o ::s ouC: co <( (I) '- I- -"0- c: (I) t/) o _ co OCO..J E ns:.;::; -= t/) c:w (1)"0 o c: co "0 (I) t/) t/) (I) t/) t/) <( 0) c: co J:: U ?fl. ?fl.?fl.?fl.?fl.?fl.?f2.?fl.';:!2.';;!2.?fl. -.:t:""":-.:t:I'-lX!-.:t:Nr;:..r;:..C'f) C'f)(oI'-COL!)l'-cor--:Ol~ ro - o I- 1'-!'-C'f)COL!)C'f)Noq-CO...- NCOcnC'f)L!)(OOcnC'f)CO OOC'f)I'-C'f)...-ol...-(OC'f) ",,"":criooLtioocriN"oocri ...-cnC'f)...-...-I'-COCOoq-CO "'-"'-oq-COl'-oq-OlOCOlC) ci"<i"<i"<i""':r'r'''<io>N" OlC'f)...-lC)oq-o(Ocnoq-oq- (O(O...-NL!)(ONcnOcn .....: M cD cri ...-0 oq-O cxi ...-0 r' N" C'f)C'f)C'f)C'f)oq-oq-oq-L!)L!)(O fh 1:l ~ ;:j U 0) CJ) c: => lC)Ooq-oq-(Ooq-oq-"'-OL!) cnl'-...-L!)lC)C'f)C'f)lC)L!)C'f) C'f)L!)lC)...-00 NC'f)1'-...- cxir'N"cxicricxioocDcD C'f)OOlOoq-OlL()oq-C'f)1'- oq-~oq-(oOL!)(oNL!)O 1'-0 0> 0 Lti Lti "<i cD cD M' M' O...-oq-NI'-C'f)~...-(OC'f) "'-0 "'-0 "'-0 "!. C'f)o oq-o oq-o oq-o oq-o lC)0 ~~~.,.-.,.-.,.-.,.-.,.-.,.-.,.- fh 1:l ~ ;:j U 0) C/) co u o ...J C\lI'-Oloq-OlolCOC'f)CO(o C'f)...-I'-COOlN(ooq-CO~ (OlC)COlC)N...-(OCOCON oq-O M cD 0 cD 0 cri ....: .....: "" !'-COoq-...-(OCOC'f)oq-...-...- (ol'-cnC\l(OCOC'f)COC'f)L!) N" oq-O M cri cD NO ....: 1'-0 cD cri CO"'-I'-C\l(oI'-C\lI'-COO lC)lC)cnO...-...-COL()lC)oq- oN""<icxioMcDoLti.....: C'f)C'f)C'f)C'f)oq-oq-oq-lC)lC)(O fh .... CO 0) >- CO u ,!!2 LL co ol 0 ...- cncnoo cncnoo ...-...-NN I I I I !'-COolO cnOlcno cn ol ol 0 "'-.,.-.,.-N NC'f)oq-L!)(01'- 000000 000000 NC\lC\lNNN I I I I I I ...-C\lC'f)oq-lC)(O 000000 000000 NC\lNNC\lC\l "0 (I) - (,) (I) o o "C c: CO "0 (I) .S; (I) ..J t/) (I) ~ (I) ns u.. (I) (I)> 0)- '- ns CI:I (,) .c: t/) Ou.. (I) c: .~ (I) ~I- (1)- rn t/) CI:I '-..J (I) 3: (I) rn "0 c: CO >< CO I- ~ 1:: (I) a. o '- a. .. CJ) 0)-0 f?0) ~t5 u~ 0) 0 uU '~ ~ 0)-0 C/) 0) .... '> 0) 0) :;:...J 0) C/) 1:l 0) .. - X ~ ~= o eU O)~ 0..-0 e 0) 0.... '> 0) ...J 0) 0) c: CO J:: U ?fl. ?f2.';:!2.?f2.';:!2.?fl.?fl.?fl.?fl.?fl.?fl. CO~C'f)OO-.::t:I'--.:t:C\lL() "'-NOCO~~~~C\lL() COC\llC)I'-L!)O...-(OCO...- oq-I'-OlC'f)O~C'f)L()...-1'- ...-C'f)lC)L()O~O!'-C'f)(O r' " M'r'''''': M'''<i cD NNNNC'f)C'f)~oq-~~ fh 0) c: CO J:: U ?fl. ?f2.?fl.?f2.?fl.?f2.?fl.?fl. (0 I'- L!) L() C'f) ...- L!) C'f) (0 I'- I'- ol I'- (0 ?fl.?fl.?fl. C'f)~C\l L()o~ U(N~ L!)O)I'-...-...-~oq-!,-CO...- COC\lL!)CO(oI'-COC\lL()(O OC\lOlco...-(Ooq-~l'-o) "" -.:i "" cxi ...-0 0 M ....: cD 0 (OL!)NC\lO(O...-C\lL()(O COC\lI'-C\lO)oq-OOCOCO Lti cD cD r' r' cxi a> -.:i oq-o ....: ...- fh .... CO 0) >- CO U CJ) u::: COcnO...-NC'f) Olcnoooo Olcnoooo ...-...-NNNC\l I I I I I I I'-COolO...-C\l OlcnO)ooo Ololo)OOO ...-...-...-NNC\l oq-L()(OI'- 0000 0000 NC\lC\lC\l I I I I C'f)~L()(O 0000 0000 NC\lNC\l _ <Ii o "0 "0 0 o U ..c c Q5 0 E 'fii Q) x > ~ ~ "0 E c 2 rn Cii ~ Ul c Orn Q) '2: > .... Q) g c::: Q) Cii ro c u Ci5 ~ .!: Q) Q) ~ = € ro '- t) Cl. 0 ~ '0 ci- Q) ~ 3l ~ Cl. Q5 -g ~ (; :J :J f'.. U o ~ u U c rn Q) ,Q -g ;: 13 ro Q) Q) Ul UC/) ~ ,~,!: ..c Cii -g~~g>~ '> '> 0 0 JQe~:5~ E ~ <(-; 5 gj :2 en ,~ ~ffi:55~ Q)a::Q)'Bc :5Q;g~:s Ul -Q) rn Ou Q5 rn > .... ~~~~,!: rn~.8Cii~ Ul f- >. :J :J Q) C 13 0 ~g5~u ....a::uo~ rn Q) Ul f- ~ I ~ ~ en JQ f- .E Q) ,~ oQ)E:5c u :5 ,Ulc- c ~ Ul 0 C" ~~,lgffi'!: !!lri~:5~ >. E...._ ~~ro~~ OEUl~Ul U 5 ~ >.'~ T!! t ,!a > :5 Q) 0 :0 JQ c Cl. rn Ul Q)a.t)xw 0rnQ)!!lE Q) :!l :5 Ul c Ul o ~ "0 'E Q) :J Ul 0 1lu Ul Q) .~ :5 c ...: Q) Q) Ole;; rn '2: g> 'E 'x '0 !!l rn .9 .9 Ul "C Q) 2 "S; Q5 JQ E Qi .... ..c Q) 00. E -g 'w rn rn ~ ,!a >. E t Q) Q) e;; Cl. >. e Ul Cl. Ul '0 ~ to en Q) u :E o en ~ e 'E o u ~ .8 '5 :J <( >. 'E :J o U rn Ui o U ~ 'E o u Qj u :; o C/) - U 'E: - III C Gl U ~.- f S c= III .- Gl Gl ;~> eI).tl1ll s~~ III .- O-LL (JOe III ~ Gl "'1lI~ 'CEUi o E III (J~...J Eel) - e Gl (J - .tl Gl o ... o Gl Co >- ~ 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 ~ 0 0 0 0 0 0 0 0 0 ci ci ci ci ci ci ci ci ci 0 0 0 0 0 0 0 0 0 10 0 10 0 10 0 10. a. 10 ~- ~ M M N N ~ ~ ~ ~ ~ ~ ~ ~ ~ SJelloa I'- 0 0 N cD 0 0 N CD 0 0 N ,;, 0 0 N 10 0 0 N ..t 0 0 N ~ 0 0 ~ l") 0 0 N l") 0 0 N N 0 0 N .. ftl N GI 0 >- 0 iii ~ <J 0 III u: 0 N 0 0 N 0 0 0 N 0 0 0 N en m m ~ m m m ~ riJ m m ~ ClO m m ~ r.:. m m til c:: 'i ~ Q .Q c:: Q " - III .- c:: E Q::: 'UE :s~ :ll .)( a:: III ~E GI Q Cl:i!: it tJ Q l( (j'c::'Q; ~SCl)~.Q .to; ~~~ e S lit:::GI'sQ c:: Q,.Q E"o-S ~elll~eQ Qa.~(JGl02 (J:ll-stf:~ ""Cl.i.-...... ~'i ~ ~.E 'tlQ.~~8'i .!.....,!2........fI) a..!:1I11~'211l g:~g:GlCli:l 5iQ5i~ui:S ~~~.~2e a::~a::eelll c: co o ...J Qj iii ~ "0 Q) (3 u Q) n:: II i It)a)'''I;f'mc.oOCD..-vlt) '<t<Ol")IONl")LOO>l")LO :lli::::: .~ NCOClOl")IOO>CO'<tl")O> - ~ .r=f'..~ll'i~LONll'i~cO--- .l!l Ql __NN..-(!)I.O"'I;f"OCOCC iiii:ii 0 en C'\Iom"'lCt"l:tm......mcoco 1-:0 C'\I-N-......-N-N-NM(f)-riri Ql Cl Ifl LO'<t'<tN'<tl")U"lI'-'<tO "'I;f"........M........,.....M('t)LnO"'l;f" 1ii NCOm"'l;f'U")Q)l.OCO('f')...... ......- ri Lt'i cO m- co- ri Lli ~ en l!! C'\ILl)CX)"'I;f"I.O(J)'V........mo Ql v_ 0_ 0_ 0_ 0_ v_ <0_ f"o-._ to_ co_ E --......,....---- --......--............ Ifl O"'l;f"O........NI"-('l')"'I;f"OI.O omOCOLOmNC")('I)-- O.....O>ClOO>Ol")<OOLO ~ ci - I'-l") <0 0 10 ONO> I'- " r-- m c:o ('1")_ 'V_ 'V_ LO_ ___ ......_ N_ c: ____............NNN i5: iii Ifl 0>0>0>0>0>0>0>0>0> 8 0 ------------------ --------............----...... - .~ .......- ........- ........- ,...: ,.....- ........- ,...: ,...: ........- .l!l Ql ~~~~~~~~~ oen 1-:0 Ql - Cl ..a . Ifl GI 0 U"lO>N I'-N <0 100> '<t - 0 0 N__MtON(J)CX>COD mNN......o........"II:tOC'O !I 1ii ........-N"m-<<iMmc.o-rioi l!! '<tI'-<O<O<OLOIOIO'<t Ql ~. E III ~. Ifl ftl . e "CtO........Nf'..MVOLO e , Q)Oa;)LOOlC\l('l')('l')...... ~ ......O')CO(J)OC1>COOIll :J al-<ir-:ci-<ir-:ci-<il'- I/) " ('l")..-......NNN('I')C"')('l") c: --------......-------- "&. Ifl 8 LOmLOor-..........mNLO<.o "Ct'V........q-O......Mf"---M Nr---r---N"'I;f"CO.......('I')NCO - .~ ......- ci as -v- as 1.lf as v- ......- -.:i .l!l Ql ...... 'V MC'\I....... <0 lO'C"'"" 00) oen NtO.......C'\IC\I,.....O)..............<O 1-- C'\I~__-.,..:C'\I-C'\I~C'\I~C'\I-MM(I") .0 Ql Cl Ifl lOO)LOO.......__OlC'\lLO(O v~__vO__(I").......'C"'""(I") U) C'\I_.......~......._C'\I_v_CC_......._M_C'\I_CC ~N~~~~~~~;fR _vOOcnO)vLO,......<OLO .E 'C"'""- __-__- - - - - . 'C"'"" 'C"'"" __ __.,.... Ifl 0000000000 ~ 0000000000 0000000000 ciLl'ianLl"ianoanano-ll'i " o)MC'\I V CO(l")....... 0)(0(1") c: ....... CX) ....... N_ N.. C")_ ('t)_ 0)_ 0_ --_ .;:: a.. 'C"'"" 'C"'""""""- or- N C'\I Ifl - COO)O__C'\I('t)vlO(O....... rl ffi 0)0l00000000 Olo>oooooooo r/l Ql ......__NC'\INNNNNN u::>- ~o.ia,6...!-NcJ,~Lbtb 0)0>0>0000000 0>0>0>0000000 ......____NNC'\INNC'\IN N o o N ~ CXl (J) (J) ...... Ul "0 c: o CO Q) ::J c: Q) > Q) n:: Ell :0 c: Q) .2 o~t) o~~ I ~ U) 5 1[;; 8 u e efl_ Jl'~ ~ '" .S!8J~~ .. Iro.. .- c: ~ ~ 5-::::l _QlUJ ien o .8$0 1Sffi~ Q) Q. III Cl~1X: ;< ~C1l~ .~ ! ~ enQlO:: :c€;1ii QlUZ o '6' :s -"E -~8 .l!l E c: '0.!J? 8 1Il0_ U ~ r/l Q.Ql E Ql -LL. 8 I" ~._Qla;- ftl ~ ~ ~ eJlQla; ~:oi;o:: UlQlua; GlCl ~ g "' ~ Q o GI <J .~ GI I/) - ..a el r/l ~:Eollg t!~.. l!ic:il o~:s c ~ 5 ~ u elr/l c: r/l c: Ql 0 co-~ ~ r/l III l!i $ '0 oc:~ 1ii l!i Ql ~~Cl 1ii:o .~ oQl~ I-ClQl en lO'C"'""LO(O.,....N__LOccm vCOO.,..........or-NWOLO u-)MM<o<oaic:i..q..q(f'j 'C"'""'C"'""'C"'"".,................NNNN C'\I..-NLOMOmm_N 1OO>U"l'<tI'-N<O'<t<OClO _tOLONOvWNVLO M cD r-: m- M "'f:t- ari a:i 'C"'""- '<t(f'- ~~~:!~~~~~~ **"?f..ifl.cft.?f..?f!.ifttf!.?f.. CD"'f:tmWO>CD(I").......Nm Nl")COl")<OI'-U"lO>'<t'<t "":<Cilli<Ci<Ci"":"":cx:icx:i"": C'\lCD_V'C"'""(OW(O(OO NI'-l")ON'<tU"l'<t'<tN <Cilli<Ci<CiNaicx:i<Cilli"": ..... - Ql (0') Z' Ql "O:J Ql c: -Ql r/l > .;;!. Ql ~IX: VCDLOO<O(OCX>LO.......CO ......_NCCO><'OCO.......COO ('l')vmCX>CD.......Ovv'C"'"" .......-......-air-:ll'iN-C")-<<iC\i,......- vNlO(OON(I")'C"'""'C"'""('l') ,..............,....LO......mmNNm cri.,..:N-v-ci'.......-<t.ill'i.,..:,......- .,.....,....'C"'""'C"'""('f')NN('\IC\lN Ifl lDN('f')NCOmvco.......o oo('l')'C"'""('\IMCX)"'f:tv............. mvN co....... LO ('I') V lD'C"'"" .......~ .......- r-: r-: cri rti ci 'C"'""- _- M NLOCOC'\llOC\I.......lD('I')1.O M"'ltcx>m,......O('l')M(J)M <COOO Omm(l")I.OCCNCO......M oicx:ic:ioi..q""":""":aicx:ici 'C"'"" _...... __ __ :- O>OCON'<tLONl")'<tCO O>1Ol") 0l")1Ol") N<OI'- NCO'C"'"".......COMv(J)ON 1.0- a:i r-: LO- ai cD M .......- '''It- ci .......,......NmLO"'f:to(Ovm o.,....ovoomMLO_N cico-'C"'""-C\iLl'iv-LCiCX)-~ci C\I......C\IC'\1M(I")("')('t')('f')v Ifl Ql Q) :J z~ > Ql IX: COCOVVVLOVCO(oN COl")O>O'<tOl")IO<01'- I'-l")NI'-OIONOl")'<t <ti ,...: ......- ,...: an 1.0- m- 'C"'""~ an r-: '<tNIO<OI'-<Ol")CO<Ol") LO'<t'<tN'<t'<tl")OOCOl") N-......-v-uj-q:riuj.,..:McD NNNN('f')C"')('t')v('l")V ~ CO<OI'-COI'-N'<tO>LOIO LOV.......mLOLO.............LO..- CO'<t'<t'<tO>IOl")<O<Ol") ai ai C"')- C\i r-: .......- 0- v- a) 1.0- coCOO>'<t<O'<tO>OOLOO (l")mcomcom,.....v'C"'""CX) ci .,....- N- r-: cD .......- ......- M <'<tOI'-'<tLON MmMvl.O......LOI.OM'C"'"" ai ci M 0- N- a:i v- 'C"'""- co- co- __vCO.......I.ONI.O.......('t')LO m,......N..-N.............__v....... .......- cc- m- uj ai m- ......- ci <l")1O NCOCOl")IOO>CO'<tl")O> 'C"'""-,...:uj.,..:ll'iN-ll'i'C"'""-ai......- 'C"'""NN......COLOvOCOaJ Nomvvm......mcccc C\i N- 'C"'""- N- N- N- crf ('t')- M ri ~ ~ffi r/l Ql u::>- ccmo__NMVLOW....... mmoooooooo mmoooooooo 'C"'""'C"'""NNNNNNNN ~oom6...!-NM~Lbtb 0>0>0>0000000 0>0>0>0000000 ............--NNNC'\IC'\INN a;- lii 0:: U en en ::;: '" o o en !!l. Ql e! " Ql )( '" '" E Ql " '.. e Ql m S ~ ~ ~ ~ ~ ~ ~ ~~e :S u 2: ~ i ~ ~ ~- o ai" '""' ~ 0 co.....oa ~ .~ i 1ij ~ fII en _ "0 ff.l :> - ~ t:: 8 a.~~~i ~~.~~m .~ "0 ~ ~ 3; ~ ~ is ~~~~-g ~~~~~ ~ 0:: CD CI) t!! CI) CD ~ :g. ~ ~~c:~o ~i~i~ w 55 Q) I:: 0 ~8t~~ l! Ql .5 c; ~ Q) - 1ij 16 E ~~i~8 m ~ u ~ ~ 0 CI) 0 E ~~!~i ;iEm~ E E ~ E ~ ~g~g: ~~~~s .!; CD II Q) .;; e!.8~.8i5 8.cuicu:u ~1l~~~ ~ !g ~ ~ ~ ~.~-g~lP ~~1~~ ~~~~~ :-~~:rr' ..... en .,; Ql 2- OJ .c U i! 8 Ql 0:: 0> .!'; C ~ 0( '" E Ql :E " c: OJ Ul C Ql E Ql lii Cii '" '0 c: OJ c: u: " ~ '5 :> 0( tl ~ o ~ OJ "" c: OJ en .. U) o u l! C o u e c Ql U ~ :> o en - CJ .~ ns - - I/) ns j:50 CJ ~ ~ 'E 'C m ~OG)> C C ~ ... ns 0 G) ns CJ)CJCJ)'C ns W C -'Cco!! I/) cOns ons:i:iO o .!!! CJ C ~:E S"G) - Q, 0 .... 5~a..1i) o C) ns o ..J ~ E - G) Co G) o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 LO 0 LO 0 LO 0 LO 0 LO LO ~ ~ ('f) ('f) N N ...... ..... UO!~elndod t-- o o C'\I co o o C'\I It) o o C'\I ~ o o C'\I C") o o C'\I C'\I ... 0 ns 0 (1) C'\I > III Q) "C ro "0 s::: :::l ...... 0 0 CO 0 t) C'\I "C - III is Q) 0 "0 0 "w 0 s::: C'\I II 0> 0> 0> ...... 00 0> 0> Q) c '#.cf!.cf!.'#.cft.';fl.'#.cft.'#.'#. ,*,IllO>NO~~It)C")ONOO .J:: "":"":"":"":ONO"":OO () s::: o >. ro U "t:l - Q) 19 c= o Q) I-CI) - "E o () s::: o u IJI :0 s::: (; 0 () s::: III 8t5 OOOOOIt)It)OOOO 1t)00t--ooot--C'\I000 C")C") 'O;f" ('1)0 It) 00 NO" ....:ctiocticxicxiai"'<iLricxi ............C'\INC'\IC")C")~~~ 'O;f"~~~~~~~~~ 0000001t)000 C")......OIt)C'\IO~ooOO OCOC")......O>O>oo"~('I) "'<iLrictiLri"'<iLriLriLriLri"''O;f"CO~ r--:o"'<i"":criNcricxiai"'0>0>0>0000...... C'\IC'\IC'\INNC")C")('I)C")C") III ::I ooO>O......C'\IC")'O;f"It)CO" c:: 0>0>00000000 III 0>0>00000000 ..., ............C'\IC'\INC'\IN C'\INN o III ~ CIO en c o "iij "S; i5 III CI) <> "~ CI) III (ij C CI) E c e "S; c w 13 "C iii i5 ~ .f! "c III CJ) III iii o () ~ c o () E c CI) () Qj ~ ::> o CJ) - e: Q) _ E ut:: Oi: C'G en a. 0- Q) CC ~~~ C'G en C'G :t:: Q) Q) e:Q)>- C'G ~_ en 0 C'G .f!Q.~ ~EU: OWe: C'Get! J:;Q)_ e: co en o > C'G o 05 ...I C'G tT ~W - Q) ~ E 0",;, ::::I LL. C M Q) I: ::s ..., .... o tn nJ tn (I) (I) >. o Q. E w - I: (I) ca .~ ::s C" W (I) E ;; I ::s LL ~I ~I ~I ~I ~I ~I ~I ~I ~I ~I I C\l -.:t C\l -.:t (") -.:t C\l -.:t C") -.:t C\l -.:t C\l -.:t (") -.:t 0> C") co C") l: o ~ nJ ~ - o!!! l: E " <( I.{') I'- 0(")0(") LOCO -.:t C") I'- CJ'lCOCJ'l(O ~co -.:t T""" co I'- C'O.....CJ'l(O ~co C") T""" T""" I'- LONCJ'lCO ~CO C") T""" o I'- ~NCO-.:t ~CO C") ..- I'- co N.....I'-O ~CO C") I'- co .....CJ'l1'-1'- ~I'- N ..- -.:t co (")1'-1'-1'- ~I'- C\l T""" C\l co OCJ'lI'-CO ~I'- N T""" T""" I'- (,,)~I'--.:t ~CO (") T""" C) I: 'C CI) CI) C C'l l: W en E ni .$ g '0 ~ ~1- UHf) El en C l: (/) l: .2 0 g> ~ 10 t5 -- nJ ~Q)_o..~ (1)-l:ECI) Q.O~::lQ. oUQ..Q..O o (Q N """ (Q N II') II') N en '''It N ...... '''It N C M (I) I: ::s ..., .... o tn nJ tn (I) tn en ::s ~ o C'G c.Q) tJ)>- 0)- I: C'G 'S; U .- en ~u: ::s e: tJ) Q) 'OI- l:_ nJ en tn C'G (1)...1 (I) ~ ;; (I) D:: .... o ~ (I) .0 E ::s Z en (") N (Q (") N '''It CO') N ...... N N ~ '''It N ca - o I- - (,) 'C - .!!! c ...... ...... ~ .... (Q ~ ...... (Q ~ (") (Q ~ en II') ~ (Q It) ~ 0) en o It) ~ '''It '''It ~ ~ (") ~ """ N ~ 'iij - o I- - (,) 'C - .!!! c - 1/1 (,) (,) ei: ;:; ]!:!!l!! C III III ~Ui ~ III Cl_ :!:: C III C:;::: (,) III III 1/1 enli;U: III Co ... iijco o 't:l :u UC't:l III III C ... _ CI) 'E~iii OI/lU u<Cc iii III CI) ~_1- ~ .g. iij UU~ 0(")0 I'-uir--:<'i 0>'<1"(")'<1" 0> ...... OO<=! COu1N't"'" 0> '<1"'<1" I!J 0> ...... 0(0'<1" o>uim..t 0>'<1"(")'<1" 0> ...... :c Cl S 0lX)1!J ouioui 0'<1"'<1"'<1" o N >0 ctI o 0'<1" uicx:iN .... C; "l::t C"? ~ III 0 CoN III I: .2 iii C) lX)'<I" N<'im<'i OL()(")'<I" - 0 o N III I: .52 :i lX)00> ",<'iON o L()'<I" '<I" o N lX)(01'- '<I"<'io..t 0L()'<I"'<I" o N 1O'<I"0 1!J<'i"":cx:i o LO'<I" '<I" o N lO(O'<I" (()M-=ci OLO'<I"LO o N '" '" '" ro-g-g-g Q) Q) Q) Q) >- ro ro ro u u u >oiL '5~ roo g.::s O~~ "00"0 2u:Oi 'E Qj 0. Q;.c~ ~~~ .!3!~'= 0... ~ '- ccO$ ro <1> <1> ro a::EOl~ -~$ iji ~ ~ ~ Ef-<t:~ ro ~ f- ~'<I" '<I"1O o~ ll"i"; ~ 1'-(") '<I"LO 1O (") ll"ill"i ~ (0 ~ 1'-1O 01'- cD"; ~ ~(O lON lX) N cD .0 ~ ... ctI CII >- 1O LO ... ~(") <1> (") N Co cD .0 III ~ I: o f- (")'<1" L()1O 0(") cD .0 ~ 1'-1'- NO> I'- (") cD .0 ~ ......'<1" '<1"1'- 1O0 .0.0 ...... ~ f'l ~~ e.~ <1> <1> u_ ~U5 .... <1> ::l (/) U. ::l o <1> -et: <1> 0 01_ "O.c .=! III en<t: 0(") <0(0 NlO ";ri ...... 1O '<1"...... "''<I" .0"; ...... ~ ~ "' "' ii: u: " o Co "' C 1'l Cl C 'C :J "C .>< ~ Q) fi '0 "5 o Cl c .~ :0 E ,g J::. "' '" Q) fi "E Q) > ~ Co E li; ro ;. "E Q) u li; Co o .. .s J::. "' '" "E Q) ~ Q) Co o 10 '0 o ., ~ "' .>< ~ .s .1: "C Q) "C '" .2 .!!! "' '" fii '" ?:- "C Q) fi .s "C Q) "C "C '" .!!! Q) ~ .c "' '" ?:- "C .s "C Q) 1:: Q) > c o u .!!! Q) Cl "C :J u; Q) ;. Q) fi ai u '" E .a € '" Q) "" ., :; E Q) ,5 .E :- (00 '<I"N ("). CON (") <Ii Cl "C :J u; Q) ;. Q) ,5 .1: li; ro ;. "E Q) ~ Q) Co co ..... .s N ..... Q) ,5 Cl c 'C :J 13 x Q) ai u '" E .2 Q) ,5 .s Q) Cl "C :J u; '0 '" Q) >- li; Co "' c .s ?:- "C Q) fi "' ~ J::. "' Q) > o .0 '" Q) :0 j1l Q) J::. f- (0...... I'-N ~ ......N O>N "'. ON ON '<1". ctI .... ctI 0'" CON ... '<1". III .c 5 0...... ON '<1". ON ON '<1". 00> 0...... LO. c: .2 ~ " c "1:; .1: 00> 0...... LO. .2 Q) u '" E .2 € '" " "" " i5. ., :; E " ,s E "C " Co E :J Co .!!! on :2 o "' "E " ~ " Co co N .s N N ro J::. u :c ;. oj Cl "C :J u; Q) s: (/) Qj ~ CII en ;gj ::l o Cii c: o 16 U5 r' (/) c: .2 ro 1ii 01 c: '0. (/) ~ .!!!o. ~'O en .~ Ji c:IDE .2 .~::l 1:5 0... Z .!!! (5 o "0...... 01...... E C! "0...... 01...... E "'": "0(") 01...... E (") "00> 01...... E ~ "00 OlN E ~ "00 OlN E ~ "0 ...... OlN E ~ "0 (") OlN E LO "0'<1" OlN E ~ "00 01(") E (0 '" ro "C "C C C " " ro ro u u "0 <1> o '- >- <1> U - <1> ;~~ 2~:: ~02 "0 {)' E <1> <1> ::l oet:z u <1> et: '" ro "C "C c C " Q) ro ro u u (/) Qj >-E ro.9 "0 (/) .... ::l III 0 0..... "0$ <1> ro g~ "0 o 0: CD~C"')CO (")NO>I'- LO.ui 0> w m*LO'V ~,..............<o o.r-: '<I" ...... w O)~T'""""" '<1"(01'-1'- (0 . . 1O LO ...... w tO~"""'1'- 0(")(01'- "'.m I'- ...... w (j)~CON --l[)(()t'- N..o 0> ...... w O>~NT"" LOT'"" <0 I"'--- (").N N~ N w ~CX)"""" (o"'LO(O C!.N (")...... N w N~OLO 1'-......(0(0 lX).N N...... N w N*"","O O>(")(OlX) O>.N '" ...... N w ~ ~ ~ ~ In en UJ (fJ ii: u: ii: ii: co 0> 0> ;;:: 0> O>~ro 5 ~ ~ "rl<t: ~ 'O.~ .EQj~ ~~en I ::l .S: I6{5 ~.~~ro~ roli~'2Q) ~'135<1>o. ~:e I ~~ O~'Oi!JI ~_<1>OI Ngg>Ol'O ~mc:E~ "O<1>ro~ "C'(j)~Q;5 (5 <1> <1> 0. 0 ~et:o...Oo... (/) ::l o I 1/1 (,) :;::: 1/1 :;::: III - en 1/1 ;j o CI) C .!! Q) (,) .!!! :!E ~ o 1:5 ~ o '0 "0 ~ o en '- Q) .Q E <1> ~ ..0 "0 <1> 1:5 <1> W >. "0 o en 01 c: 'c Qj > o l') (") N 0> ...... '0 1:5 <t: 1:5 'C 1ii o ~ oS 'c ro en <1> .s Qj "0 c: ::l (0 '<I" 0> ...... .S: "0 <1> .c .~ :c ro 1ii ill CD :; 1:5 2 U5 ro C <1> E c: Qj > o l') (/) <1> <1> >- o c. E <1> C <1> ro > 'S tT <1> <1> E :L :2 o (0 N :t: ro U5 0- <1> (/) Q) o o r-... '<I" c: o t5 <1> (/) <1> "0 o o .?;- ~ ro (/) "0 c: ro .s ro <1> I ro oE g ro o ro (/) o 0. (/) 'i5 ~~ .'13 ~~ E <1> roen <1> ro .;,~ c: (/) o 5 ts"E ~ ~ <1>.... 8roro Qj:;~ ro(5-C ~ .c <1> <1><1>0 en en >. ro ::l U ~~& ~ .~ .c ::; <t: (/) <1> U .~ <1> (/) ~ ro :e <1> f- c: o 16 E ro o <1> et: ~ ro "0 c: o U <1> (/) Q) 01 ~ .c U (/) o C <1> E ro ~ f- a <1> 0. >- f- (/) .!!! 'E ~ ro ::l tT (/) N '<I" ...... ro ~ <t: <1> U .~ <1> en o o r-... a:5 '<I" '<I" - 'c ::l C <1> ro > .::; tT <1> ro ~ <1> "0 '00 ~ .... Q) 0. ~ ro ::l c: c: ro 0> 1O N W -0 Q) ~ <1> en c: o ~ "S 0. o 0... ro 15 f- CD 01 ~ .c o ~ .~ <1> (/) Qj ~ <1> en o ...... <h "' "E o u ~ U 'c 1;) 15 ?:- j1l 'co '" en t'l o .u l!' "E o u ~ "E " u ;,; ~ :J o en