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OPEN MEETING

REGULAR MEETING OF THE FINANCE COMMITTEE

Tuesday, November 28, 2017 – 2:00 p.m.

Laguna Woods Village Community Center Sycamore Room 24351 El Toro Road

AGENDA

1. Call to Order 2. Acknowledgment of Media 3. Approval of the Agenda 4. Approval of Meeting Report for September 26, 2017 5. Chair Remarks 6. Member Comments (Items Not on the Agenda) 7. Department Head Update

Reports 8. Preliminary Financial Statements dated October 31, 2017

Items for Discussion and Consideration 9. Endorsements from Standing Committees

Concluding Business: 10. Committee Member Comments 11. Date of Next Meeting – Tuesday, January 30, 2018 at 2:00 p.m. 12. Recess to Closed Session

Gary Morrison, Chair

Betty Parker, Staff Officer Telephone: 949-597-4204

OPEN MEETING

REPORT OF THE REGULAR MEETING OF THE UNITED LAGUNA WOODS MUTUAL FINANCE COMMITTEE

Tuesday, September 26, 2017 – 2:00 p.m. Laguna Woods Village Community Center Sycamore Room, 24351 El Toro Road

MEMBERS PRESENT: Pat English, Gary Morrison, Juanita Skillman, Andre Torng,

OTHERS PRESENT: Prakash Achrekar, Janey Dorrell, Steven Leonard, Maxine McIntosh

MEMBERS ABSENT: Advisors - Cynthia Statsmann, Manuel Armanderiz

STAFF PRESENT: Betty Parker, Solange Backes

Call to Order Director English chaired the meeting and called it to order at 2:03 p.m.

Acknowledgment of Media None.

Approval of Agenda The agenda was approved with the following additions:

• Proposed Fee Schedule for Manor Alterations• Conformance Deposit• Waste Line Remediation

Approval of the Regular Meeting Report of July 25, 2017 The Committee report was approved as presented.

Chair Remarks Director English commented on closed session agenda packets being returned after the closed session meeting. Additionally, Director English announced that this would be her last meeting as Treasurer.

Member Comments (Items Not on the Agenda) Director Achrekar thanked Director English for her service as Treasurer and commented on financial reports. Mary Stone (356-C), commented on co-occupancy application requirements.

Department Head Update None.

Agenda Item # 4 Page 1 of 2

Report of United Finance Committee Regular Open Meeting September 26, 2017 Page 2 of 2

Review Preliminary Financial Statements dated June 30, 2017 Ms. Parker, Financial Services Director, presented the financials through July 31, 2017. Discussion ensued and questions were addressed.

Financial Qualification Policy The committee reviewed proposed revisions to the Financial Qualification Policy as endorsed by the Governing Documents Review Committee. A motion was made and carried by consensus to recommend that the Board approve the amended Financial Qualification Policy.

SCE Billing Update Discussion ensued regarding annual billing from SCE for Net Metering.

Proposed Fee Schedule for Manor Alterations Director Skillman summarized a proposal from the Architectural Control and Standards Committee to revise alteration fees. A motion was made and carried by consensus to recommend that the Board approve the amended Manor Alternation Fee Schedule.

Conformance Deposit Director Skillman summarized a proposal from the Architectural Control and Standards Committee to implement a refundable deposit to help enforce compliance with mutual rules during manor alterations. A motion was made and carried by consensus to recommend that the Board approve the Conformance Deposit Pilot Program.

Waste Line Remediation Contract has been awarded to Nu Flow America dba Specialized Pipe Technologies (SPT).

Director English left the meeting at 3:20pm and Gary Morrison chaired the duration of the meeting.

Committee Member Comments None.

Date of Next Meeting – Tuesday, November 28, 2017 at 2:00 p.m.

Adjournment – The meeting recessed to closed session at 3:49 p.m.


CURRENT MONTH

ACTUAL BUDGET VARIANCEYEAR TO DATE

ACTUAL BUDGET VARIANCEYTD 2016ACTUAL

ANNUALBUDGET

Revenues:Assessments:

1 Operating $2,177 $2,150 $28 $21,774 $21,498 $276 $21,128 $25,7982 Additions to restricted funds 993 993 9,927 9,927 9,928 11,913

3 Total assessments 3,170 3,143 28 31,701 31,426 276 31,056 37,711

Non-assessment revenues:4 Merchandise sales 2 1 1 30 13 18 27 155 Fees and charges for services to residents 25 59 (34) 139 590 (451) 488 7086 Laundry 12 12 153 122 32 115 1467 Interest income 28 22 7 268 217 51 271 2608 Miscellaneous 34 35 (1) 432 391 40 446 461

9 Total non-assessment revenue 102 129 (27) 1,022 1,332 (310) 1,347 1,590

10 Total revenue 3,272 3,271 32,724 32,758 (35) 32,404 39,301

Expenses:11 Employee compensation and related 1,042 1,055 13 10,717 10,433 (284) 10,655 12,51412 Materials and supplies 193 317 124 1,964 3,170 1,207 2,304 3,80613 Utilities and telephone 335 375 39 3,530 3,525 (5) 3,639 4,18714 Legal fees 11 17 6 148 167 18 221 20015 Professional fees 25 12 (13) 82 109 26 102 12916 Equipment rental 3 1 (2) 24 11 (13) 13 1317 Outside services 419 615 195 3,674 6,145 2,471 5,575 7,09318 Repairs and maintenance 3 3 18 31 14 29 3719 Other Operating Expense 10 9 134 105 (29) 112 13420 Income taxes 1821 Property and sales tax 853 781 (72) 8,072 7,806 (266) 7,174 9,36722 Insurance 94 105 11 938 1,054 116 905 1,26523 Investment expense 28 28 37 2824 Uncollectible Accounts 19 (19) 19 (19)25 (Gain)/loss on sale or trade (1) (1) (2) (6) (4) (13) (8)26 Depreciation and amortization 18 18 184 184 196 22127 Net allocation to mutuals 82 94 12 808 927 118 860 1,115

28 Total expenses 3,107 3,401 293 30,337 33,688 3,351 31,825 40,100

29 Excess of revenues over expenses $165 ($129) $294 $2,387 ($930) $3,316 $579 ($799)

United Laguna Woods MutualStatement of Revenues & Expenses - Preliminary

10/31/2017($ IN THOUSANDS)


YEAR TO DATEActual Budget VAR$ B/(W) VAR% B/(W)

ANNUAL

BUDGET

Revenues:Assessments:Operating41001000 - Monthly Assessments $13,060,789 $13,061,520 ($731) (0.01%) $15,673,82441007000 - Monthly Assessments - Property Taxes 7,747,283 7,805,630 (58,347) (0.75%) 9,366,76741007500 - Monthly Assessments - Supplemental Property Taxes 334,706 0 334,706 0.00% 041008000 - Monthly Assessments - Property Insurance 631,307 631,310 (3) 0.00% 757,573

Total Operating 21,774,085 21,498,460 275,625 1.28% 25,798,163

Additions To Restricted Funds41001500 - Monthly Assessments - Contingency Fund 1,201,370 1,201,370 0 0.00% 1,441,64441003500 - Monthly Assessments - Replacement Fund 8,725,740 8,725,740 0 0.00% 10,470,888

Total Additions To Restricted Funds 9,927,110 9,927,110 0 0.00% 11,912,532

Total Assessments 31,701,195 31,425,570 275,625 0.88% 37,710,695

Non-Assessment Revenues:Merchandise Sales41501500 - Merchandise Sales - Warehouse 30,328 12,500 17,828 142.63% 15,000

Total Merchandise Sales 30,328 12,500 17,828 142.63% 15,000

Fees and Charges for Services to Residents46501000 - Permit Fee 62,299 50,880 11,419 22.44% 61,05046501500 - Inspection Fee 39,405 65,854 (26,449) (40.16%) 79,00746502000 - Resident Maintenance Fee 37,672 473,270 (435,598) (92.04%) 567,967

Total Fees and Charges for Services to Residents 139,376 590,004 (450,628) (76.38%) 708,024

Laundry46005000 - Coin Op Laundry Machine 153,190 121,660 31,530 25.92% 146,000

Total Laundry 153,190 121,660 31,530 25.92% 146,000

Interest Income49001000 - Interest Income - Treasury Notes 30,449 18,090 12,359 68.32% 21,71349001500 - Interest Income - Treasury Notes - Discretionary 138,076 94,080 43,996 46.76% 112,88849002000 - Interest Income - Money Market 1,024 2,010 (986) (49.05%) 2,40649002500 - Interest Income - Gnma Securities - Discretionary 98,007 102,780 (4,773) (4.64%) 123,339

Total Interest Income 267,556 216,960 50,596 23.32% 260,346

Miscellaneous46004500 - Resident Violations 12,985 0 12,985 0.00% 044501000 - Additional Occupant Fee 31,670 0 31,670 0.00% 044501500 - Lease Processing Fee - United 86,290 81,819 4,471 5.46% 100,00144502000 - Variance Processing Fee 10,610 4,780 5,830 121.97% 5,72744503000 - Stock Transfer Fee 9,250 9,420 (170) (1.80%) 11,30044503510 - Resale Processing Fee - United 139,958 160,410 (20,452) (12.75%) 192,50044507000 - Golf Cart Electric Fee 59,751 49,200 10,551 21.44% 49,20044507200 - Electric Vehicle Plug-In Fee 4,156 0 4,156 0.00% 044507500 - Cartport/Carport Space Rental Fee 2,594 3,000 (406) (13.52%) 3,00047001000 - Cash Discounts - Accounts Payable (10) 0 (10) 0.00% 047001500 - Late Fee Revenue 20,990 25,000 (4,010) (16.04%) 30,00047002000 - Collection Administrative Fee 39,260 21,240 18,020 84.84% 25,48047002010 - Collection Administrative Fee - United 1,800 4,000 (2,200) (55.00%) 4,80047002500 - Collection Interest Revenue 1,660 0 1,660 0.00% 047501000 - Recycling 1,602 3,330 (1,728) (51.91%) 4,00048001000 - Legal Fee 1,707 29,160 (27,453) (94.15%) 35,00049004000 - Insurance Reimbursement 7,485 0 7,485 0.00% 049009000 - Miscellaneous Revenue 99 0 99 0.00% 0

Total Miscellaneous 431,856 391,359 40,497 10.35% 461,008

Total Non-Assessment Revenue 1,022,306 1,332,483 (310,177) (23.28%) 1,590,378

Total Revenue 32,723,500 32,758,053 (34,553) (0.11%) 39,301,073

United Laguna Woods MutualOperating Statement

10/31/2017UNITED LAGUNA WOODS MUTUAL



ANNUAL

BUDGET

Expenses:Employee Compensation51011000 - Salaries & Wages - Regular 1,942,443 1,963,156 20,713 1.06% 2,358,93051021000 - Union Wages - Regular 4,814,090 4,943,148 129,058 2.61% 5,935,03051041000 - Wages - Overtime 53,070 6,338 (46,732) (737.35%) 7,61651051000 - Union Wages - Overtime 102,776 70,805 (31,971) (45.15%) 84,97751061000 - Holiday 375,705 181,564 (194,141) (106.93%) 218,04251071000 - Sick 229,294 136,173 (93,121) (68.38%) 163,53251081000 - Sick - Part Time 0 930 930 100.00% 1,12351091000 - Missed Meal Penalty 2,598 552 (2,046) (370.79%) 66751101000 - Temporary Help 102,122 42 (102,080) (242642.12%) 5051981000 - Compensation Accrual (88,834) 0 88,834 0.00% 0

Total Employee Compensation 7,533,262 7,302,707 (230,555) (3.16%) 8,769,967

Compensation Related52411000 - F.I.C.A. 558,540 555,377 (3,162) (0.57%) 664,84052421000 - F.U.I. 8,302 9,679 1,377 14.23% 9,67952431000 - S.U.I. 48,427 48,922 496 1.01% 48,92252441000 - Union Medical 1,479,063 1,454,901 (24,162) (1.66%) 1,745,88152451000 - Workers' Compensation Insurance 540,576 515,869 (24,708) (4.79%) 619,43952461000 - Non Union Medical & Life Insurance 225,371 208,334 (17,037) (8.18%) 250,00052471000 - Union Retirement Plan 265,448 256,603 (8,845) (3.45%) 308,09252481000 - Non-Union Retirement Plan 61,046 80,819 19,773 24.47% 97,11252981000 - Compensation Related Accrual (2,646) 0 2,646 0.00% 0

Total Compensation Related 3,184,125 3,130,503 (53,622) (1.71%) 3,743,966

Materials and Supplies53001000 - Materials & Supplies 573,883 308,505 (265,377) (86.02%) 370,52353002500 - Printed Membership Materials 0 1,224 1,224 100.00% 1,47253003000 - Materials Direct 1,389,793 2,860,760 1,470,967 51.42% 3,433,64453004000 - Freight 9 0 (9) 0.00% 0

Total Materials and Supplies 1,963,684 3,170,489 1,206,805 38.06% 3,805,638

Utilities and Telephone53301000 - Electricity 99,047 154,430 55,383 35.86% 185,32053301500 - Sewer 1,449,793 1,476,500 26,707 1.81% 1,771,80053302000 - Water 1,639,485 1,613,250 (26,235) (1.63%) 1,892,48053302500 - Trash 341,276 281,224 (60,052) (21.35%) 337,47353304000 - Telephone 553 0 (553) 0.00% 0

Total Utilities and Telephone 3,530,155 3,525,404 (4,751) (0.13%) 4,187,073

Legal Fees53401500 - Legal Fees 148,364 166,660 18,296 10.98% 200,000

Total Legal Fees 148,364 166,660 18,296 10.98% 200,000

Professional Fees53402000 - Audit & Tax Preparation Fees 40,686 32,210 (8,476) (26.31%) 38,66353403500 - Consulting Fees 2,800 38,832 36,032 92.79% 45,30753403510 - Consulting Fees - United 38,784 37,490 (1,294) (3.45%) 45,000

Total Professional Fees 82,269 108,532 26,262 24.20% 128,970

Equipment Rental53501500 - Equipment Rental/Lease Fees 23,578 11,053 (12,525) (113.32%) 12,923

Total Equipment Rental 23,578 11,053 (12,525) (113.32%) 12,923

Outside Services53601000 - Bank Fees 2,554 3,375 821 24.32% 4,05154603500 - Outside Services CC 3,625,538 6,094,822 2,469,284 40.51% 7,022,04153704000 - Outside Services 45,452 46,514 1,062 2.28% 66,985

Total Outside Services 3,673,543 6,144,710 2,471,167 40.22% 7,093,077

Repairs and Maintenance53701000 - Equipment Repair & Maint 7,688 6,101 (1,587) (26.02%) 7,37153703000 - Elevator /Lift Maintenance 9,852 25,000 15,148 60.59% 30,000





ANNUAL

BUDGET

Total Repairs and Maintenance 17,540 31,101 13,561 43.60% 37,371

Other Operating Expense53801000 - Mileage & Meal Allowance 3,009 5,746 2,737 47.63% 6,93453801500 - Travel & Lodging 169 983 814 82.83% 1,18853802000 - Uniforms 76,215 40,788 (35,427) (86.86%) 48,99253802500 - Dues & Memberships 447 2,679 2,232 83.31% 3,37153803000 - Subscriptions & Books 2,792 934 (1,858) (199.03%) 1,12153803500 - Training & Education 6,436 5,153 (1,283) (24.90%) 6,21553901000 - Benefit Administrative Fees 27 0 (27) 0.00% 053903000 - Safety 0 51 51 100.00% 6254001000 - Board Relations 2,764 7,199 4,436 61.61% 8,64954001010 - Board Relations - United 4,321 830 (3,491) (420.66%) 1,00054001500 - Public Relations 85 157 72 45.79% 19254002000 - Postage 37,065 39,218 2,153 5.49% 54,88354002500 - Filing Fees / Permits 263 764 501 65.61% 894

Total Other Operating Expense 133,593 104,502 (29,091) (27.84%) 133,502

Income Taxes54301000 - State & Federal Income Taxes 10 0 (10) 0.00% 0

Total Income Taxes 10 0 (10) 0.00% 0

Property and Sales Tax54301500 - State & Local Taxes 4,900 0 (4,900) 0.00% 054302000 - Property Taxes 8,066,661 7,805,630 (261,031) (3.34%) 9,366,767

Total Property and Sales Tax 8,071,561 7,805,630 (265,931) (3.41%) 9,366,767

Insurance54401000 - Hazard & Liability Insurance 358,168 362,071 3,903 1.08% 434,48554401500 - D&O Liability 38,487 54,433 15,946 29.29% 65,32054402000 - Property Insurance 537,525 631,310 93,785 14.86% 757,57354403000 - General Liability Insurance 3,519 6,077 2,558 42.09% 7,292

Total Insurance 937,699 1,053,890 116,191 11.02% 1,264,669

Investment Expense54201000 - Investment Expense 27,669 27,669 0 0.00% 27,669

Total Investment Expense 27,669 27,669 0 0.00% 27,669

Uncollectible Accounts54602000 - Bad Debt Expense 19,349 0 (19,349) 0.00% 0

Total Uncollectible Accounts 19,349 0 (19,349) 0.00% 0

(Gain)/Loss on Sale or Trade54101000 - (Gain)/Loss - Warehouse Sales (2,004) (6,251) (4,247) (67.94%) (7,500)

Total (Gain)/Loss on Sale or Trade (2,004) (6,251) (4,247) (67.94%) (7,500)

Depreciation and Amortization55001000 - Depreciation And Amortization 184,182 184,182 0 0.00% 221,018

Total Depreciation and Amortization 184,182 184,182 0 0.00% 221,018

Net Allocation to Mutuals54602500 - Allocated Expenses 808,335 926,818 118,483 12.78% 1,115,202

Total Net Allocation to Mutuals 808,335 926,818 118,483 12.78% 1,115,202

Total Expenses 30,336,915 33,687,598 3,350,683 9.95% 40,100,313

Excess of Revenues Over Expenses $2,386,585 ($929,545) $3,316,131 356.75% ($799,240)




CurrentMonth End

Prior YearDecember 31

Assets

1 Cash and cash equivalents $7,953,959 $7,415,0272 Non-discretionary investments 5,949,837 2,982,3433 Discretionary investments 14,742,935 14,447,5834 Receivable/(Payable) from mutuals 1,773,049 2,553,5565 Accounts receivable and interest receivable 493,368 706,5756 Prepaid expenses and deposits 26,665 197,7687 Property and equipment 91,987,986 91,987,9868 Accumulated depreciation property and equipment (83,749,556) (83,747,004)9 Beneficial interest in GRF of Laguna Hills Trust 6,224,591 6,406,22110 Non-controlling interest in GRF 38,035,910 38,035,910

11 Total Assets $83,438,743 $80,985,964

Liabilities and Fund Balances

Liabilities:12 Accounts payable and accrued expenses $3,648,012 $3,502,81413 Accrued compensation and related costs 541,992 541,99214 Deferred income 1,648,647 1,727,65015 Asset retirement obligation 985,936 985,936

16 Total liabilities $6,824,586 $6,758,392

Fund balances:17 Fund balance prior years 74,227,572 75,199,99118 Change in fund balance - current year 2,386,585 (972,420)

19 Total fund balances 76,614,157 74,227,572

20 Total Liabilities and Fund Balances $83,438,743 $80,985,964

United Laguna Woods MutualBalance Sheet - Preliminary

10/31/2017


OperatingFund

ContingencyFund

ReplacementFund Total

Assets

1 Cash and cash equivalents $7,953,959 $7,953,9592 Non-discretionary investments 5,949,837 5,949,8373 Discretionary investments 14,742,935 14,742,9354 Receivable/(Payable) from mutuals 2,316,693 (543,644) 1,773,0495 Receivable/(Payable) from operating fund (23,460,837) 3,213,410 20,247,4276 Accounts receivable and interest receivable 493,368 493,3687 Prepaid expenses and deposits 26,665 26,6658 Property and equipment 91,987,986 91,987,9869 Accumulated depreciation property and equipment (83,749,556) (83,749,556)10 Beneficial interest in GRF of Laguna Hills Trust 6,224,591 6,224,59111 Non-controlling interest in GRF 38,035,910 38,035,910

12 Total Assets $60,521,551 $3,213,410 $19,703,783 $83,438,743

Liabilities and Fund Balances

Liabilities:13 Accounts payable and accrued expenses $3,648,012 $3,648,01214 Accrued compensation and related costs 541,992 541,99215 Deferred income 1,648,647 1,648,64716 Asset retirement obligation 985,936 985,936

17 Total liabilities $6,824,586 $6,824,586

Fund balances:18 Fund balance prior years 53,815,121 3,047,112 17,365,338 74,227,57219 Change in fund balance - current year (118,157) 166,297 2,338,445 2,386,585

20 Total fund balances 53,696,964 3,213,410 19,703,783 76,614,157

21 Total Liabilities and Fund Balances $60,521,551 $3,213,410 $19,703,783 $83,438,743

United Laguna Woods MutualFund Balance Sheet - Preliminary

10/31/2017


OperatingFund

ContingencyFund

ReplacementFund Total

Revenues:Assessments:

1 Operating $21,774,085 $21,774,0852 Additions to restricted funds 1,201,370 8,725,740 9,927,110

3 Total assessments 21,774,085 1,201,370 8,725,740 31,701,195

Non-assessment revenues:4 Merchandise sales 14,252 16,076 30,3285 Fees and charges for services to residents 139,376 139,3766 Laundry 153,190 153,1907 Interest income 1,474 39,107 226,975 267,5568 Miscellaneous 424,371 7,485 431,856

9 Total non-assessment revenue 732,662 46,592 243,051 1,022,306

10 Total revenue 22,506,747 1,247,962 8,968,791 32,723,500

Expenses:11 Employee compensation and related 7,756,505 9,848 2,951,035 10,717,38812 Materials and supplies 678,678 1,324 1,283,682 1,963,68413 Utilities and telephone 3,518,154 112 11,889 3,530,15514 Legal fees 148,364 148,36415 Professional fees 82,269 82,26916 Equipment rental 5,532 (31) 18,077 23,57817 Outside services 487,864 1,065,682 2,119,997 3,673,54318 Repairs and maintenance 15,008 4 2,528 17,54019 Other Operating Expense 109,307 85 24,200 133,59320 Income taxes 10 1021 Property and sales tax 8,071,561 8,071,56122 Insurance 937,699 937,69923 Investment expense 4,129 23,539 27,66924 Uncollectible Accounts 19,349 19,34925 (Gain)/loss on sale or trade (2,004) (2,004)26 Depreciation and amortization 184,182 184,18227 Net allocations to mutuals 612,426 512 195,397 808,335

28 Total expenses 22,624,904 1,081,665 6,630,346 30,336,915

29 Excess of revenues over expenses ($118,157) $166,297 $2,338,445 $2,386,585

30 Excluding depreciation $66,025 $166,297 $2,338,445 $2,570,767

United Laguna Woods MutualChanges in Fund Balances - Preliminary

10/31/2017


UNITED LAGUNA WOODS MUTUALNON-DISCRETIONARY ACCOUNT HELD BY BANK OF AMERICA

SCHEDULE OF INVESTMENTS10/31/17

STATEDSETTLEMEN MATURITY PAR EFFECT. ORIGINAL ANNUALIZEDI.D. NO. DESCRIPTION RATE DATE DATE VALUE YIELD COST YTD YIELD *

912796MC0 U.S. TREASURY BILL 0.00% 08-11-17 11-16-17 1,000,000.00 0.94% 997,507.64 912796LX5 U.S. TREASURY BILL 0.00% 04-28-17 04-26-18 2,000,000.00 0.97% 1,980,841.67 912796MB2 U.S. TREASURY BILL 0.00% 08-11-17 05-24-18 1,000,000.00 1.05% 991,817.22 912796MK2 U.S. TREASURY BILL 0.00% 08-11-17 07-19-18 2,000,000.00 1.09% 1,979,670.00

TOTAL FOR NON-DISCRETIONARY INVESTMENTS 6,000,000.00$ 5,949,836.53$ 0.90%

*Yield is based on all investments held during the year

UNITED LAGUNA WOODS MUTUALDISCRETIONARY ACCOUNT - BLACKROCK/MERRILL LYNCH


STATED SETTLE MATURITY PAR EFFECT. ORIGINAL ANNUALIZEDI.D. NO. DESCRIPTION RATE DATE DATE VALUE YIELD COST YTD YIELD *

M.L. MONEY MARKET 399,758.19$ 399,758.19$ 594918AP9 CORPORATE BOND 0.88% 11-01-16 11-15-17 100,000.00 0.88% 99,988.00 912796NN5 U.S. TREASURY BILL 0.00% 10-20-17 01-18-18 250,000.00 1.10% 249,321.56 585055BQ8 CORPORATE BOND 1.50% 04-18-16 03-15-18 100,000.00 1.01% 100,969.00 912828QG8 U.S. TREASURY NOTE 2.63% 12-15-11 04-30-18 1,000,000.00 2.63% 1,084,691.50 89114QAG3 CORPORATE BOND 1.40% 01-10-17 04-30-18 150,000.00 1.53% 149,739.00 912828L81 U.S. TREASURY NOTE 0.88% 11-06-15 10-15-18 250,000.00 1.24% 247,363.70 035242AG1 CORPORATE BOND 1.90% 04-18-16 02-01-19 100,000.00 1.34% 101,526.00 035242AG1 CORPORATE BOND 1.90% 10-23-17 02-01-19 25,000.00 1.74% 25,047.75 912828P53 U.S. TREASURY NOTE 0.75% 02-22-16 02-15-19 200,000.00 0.95% 198,805.02 912828KQ2 U.S. TREASURY NOTE 3.13% 11-02-10 05-15-19 594,000.00 3.77% 562,212.10 912828KQ2 U.S. TREASURY NOTE 3.13% 11-02-10 05-15-19 150,000.00 3.18% 149,309.19 02665WBE0 CORPORATE BOND 1.20% 11-02-10 07-12-19 150,000.00 1.57% 148,920.00 913017CF4 CORPORATE BOND 1.50% 11-02-10 11-01-19 175,000.00 1.76% 173,717.25 94974BGF1 CORPORATE BOND 2.15% 11-02-10 01-30-20 175,000.00 2.22% 174,613.25 912828MP2 U.S. TREASURY NOTE 3.63% 04-21-10 02-15-20 250,000.00 3.77% 246,885.77 20030NBA8 CORPORATE BOND 5.15% 04-19-16 03-01-20 150,000.00 1.41% 171,006.00





20030NBA8 CORPORATE BOND 5.15% 10-23-17 03-01-20 50,000.00 1.90% 53,715.50 912828K33 U.S. TIP NOTE 0.13% 03-08-17 04-15-20 300,000.00 0.12% 314,656.48 912828ND8 U.S. TREASURY NOTE 3.50% 07-15-10 05-15-20 500,000.00 3.02% 520,119.19 912828ND8 U.S. TREASURY NOTE 3.50% 10-30-12 05-15-20 225,000.00 1.35% 259,524.34 747525AP8 CORPORATE BOND 2.10% 07-12-17 05-20-20 150,000.00 2.08% 150,757.50 17275RAX0 CORPORATE BOND 2.45% 08-18-17 06-15-20 100,000.00 1.76% 101,878.00 912828NT3 U.S. TREASURY NOTE 2.63% 10-28-10 08-15-20 250,000.00 2.68% 248,721.70 375558BB8 CORPORATE BOND 2.55% 04-18-16 09-01-20 100,000.00 1.72% 103,465.00 912828M98 U.S. TREASURY NOTE 1.63% 12-24-15 11-30-20 300,000.00 1.72% 298,629.41 035242AJ5 CORPORATE BOND 2.65% 11-01-16 02-01-21 100,000.00 2.03% 102,436.00 035242AJ5 CORPORATE BOND 2.65% 10-24-17 02-01-21 25,000.00 2.20% 25,342.50 46625HQJ2 CORPORATE BOND 2.55% 04-18-16 03-01-21 100,000.00 2.31% 101,049.00 037833AR1 CORPORATE BOND 2.85% 04-18-16 05-06-21 100,000.00 1.79% 105,086.00 037833AR1 CORPORATE BOND 2.85% 10-23-17 05-06-21 50,000.00 2.06% 51,324.50 857477AV5 CORPORATE BOND 1.95% 10-23-17 05-19-21 50,000.00 2.06% 49,801.00 594918BP8 CORPORATE BOND 1.55% 11-01-16 08-08-21 100,000.00 1.55% 98,911.00 912828RC6 U.S. TREASURY NOTE 2.13% 11-09-11 08-15-21 750,000.00 2.04% 755,452.22 91324PCN0 CORPORATE BOND 3.35% 07-19-16 07-15-22 100,000.00 1.99% 107,590.00 912828L24 U.S. TREASURY NOTE 1.88% 11-06-15 08-31-22 600,000.00 1.88% 592,149.64 375558BC6 CORPORATE BOND 3.25% 10-23-17 09-01-22 50,000.00 2.38% 51,901.00 912828M80 U.S. TREASURY NOTE 2.00% 12-08-15 11-30-22 600,000.00 2.00% 599,954.33 46625HJH4 CORPORATE BOND 3.20% 10-23-17 01-25-23 50,000.00 2.67% 51,270.50 912828P38 U.S. TREASURY NOTE 1.75% 02-22-16 01-31-23 250,000.00 1.58% 252,666.52 46625HJH4 CORPORATE BOND 3.20% 08-18-17 06-25-23 100,000.00 2.68% 102,577.00 912828S35 U.S. TREASURY NOTE 1.38% 07-16-16 06-30-23 150,000.00 1.35% 150,176.08 375558BC6 CORPORATE BOND 3.25% 07-20-16 06-30-23 100,000.00 2.04% 106,727.00 68389XBL8 CORPORATE BOND 2.40% 07-12-16 09-15-23 100,000.00 2.16% 101,531.00

36201TAZ0/P592324 GNMA SECURITIES 4.00% 02-17-10 02-15-18 3,094.20 1.33% 9,306.45 36200M6T5/P604882X GNMA SECURITIES 5.00% 12-29-03 12-15-18 4,162.36 1.13% 18,412.36 36225B3R7/P781708x GNMA SECURITIES 5.00% 05-18-04 05-15-19 15,390.11 4.16% 18,484.55 36290TLG2/P616927 GNMA SECURITIES 5.50% 12-23-05 12-15-20 54,341.92 4.56% 65,521.21 36290YBU1/P621151 GNMA SECURITIES 5.50% 05-24-07 05-15-22 54,572.56 5.50% 54,572.56 36296DDR6/P687812 GNMA SECURITIES 5.50% 09-22-08 08-15-23 42,390.88 4.13% 56,485.97





36202FD78/P004626 GNMA SECURITIES 4.50% 02-24-10 02-20-25 142,698.82 3.45% 186,191.01 36202FD78/P004626 GNMA SECURITIES 4.50% 09-17-13 02-20-25 169,736.36 3.74% 204,381.04 36202FJC1/P004759 GNMA SECURITIES 4.00% 02-16-12 08-20-25 127,410.25 2.84% 179,385.88 36202FJC1/P004759 GNMA SECURITIES 4.00% 03-19-12 08-20-25 179,936.22 2.85% 252,278.70 3620AS6G9/P738971X GNMA SECURITIES 3.00% 04-29-15 11-15-26 297,056.46 2.75% 323,793.46 36176W6N6/P778777X GNMA SECURITIES 3.50% 05-17-12 01-15-27 402,742.93 2.76% 510,872.19 36202F2H8/P005276M GNMA SECURITIES 3.00% 11-12-14 01-20-27 119,039.68 2.73% 130,836.18 36179MAG5/PMA0007M GNMA SECURITIES 3.00% 08-20-12 04-20-27 219,698.93 2.50% 263,278.29 36179MGN4/PMA0205M GNMA SECURITIES 3.00% 07-31-12 07-20-27 143,565.40 2.51% 171,252.90 36179MP53/PMA0444M GNMA SECURITIES 3.00% 12-18-12 10-20-27 189,899.64 2.55% 223,751.18 36179MSB7/PMA0514M GNMA SECURITIES 3.00% 05-14-14 11-20-27 190,022.31 2.74% 208,427.00 36179MU32/PMA0602M GNMA SECURITIES 3.00% 01-17-13 12-20-27 448,458.12 2.57% 523,535.67 36179MZW3/PMA0757M GNMA SECURITIES 3.00% 04-16-13 02-20-28 212,658.38 2.59% 246,473.97 36179NMP0/PMA1266M GNMA SECURITIES 3.50% 10-21-13 09-20-28 108,605.72 3.06% 124,129.87 36202T7B6/P609390X GNMA SECURITIES 5.50% 09-22-03 09-15-33 32,029.38 3.90% 45,154.41 36213CZ52/P550764 GNMA SECURITIES 5.50% 09-19-07 09-15-35 43,048.94 6.48% 36,548.68 36202FGD2/P004696 GNMA SECURITIES 4.50% 06-21-10 06-15-40 166,906.69 3.84% 195,816.30 36179QL74/PMA2150M GNMA SECURITIES 4.50% 09-11-14 08-20-44 251,069.46 3.54% 318,837.54 36179QT50/PMA2372M GNMA SECURITIES 4.00% 12-22-14 11-20-44 214,110.77 3.35% 255,618.25 36179rvc0/PMA3311m GNMA SECURITIES 4.00% 03-31-16 12-20-45 207,139.36 3.57% 232,163.44 36179SUV7/PMA4196m GNMA SECURITIES 3.50% 02-28-17 01-20-47 139,547.01 3.34% 146,139.92

TOTALS FOR DISCRETIONARY INVESTMENTS 13,748,091.05 14,742,934.67 2.18%

TOTAL INVESTMENTS 19,748,091.05$ 20,692,771.20$ 1.90%

*Yield is based on all investments held during the year


United Laguna Woods Mutual

Supplemental Appropriation Schedule

Period Ending: 10/31/2017

BUDGET

ITEM RESOLUTION #TOTAL

Appropriations I-T-D*

REMAINING

EncumbranceSTATUS

Reserve Fund

United Water Heater Electrical Upgrades 01-15-32 73,800 50,913 22,887 4 Replacements Remaining

Watts Floodsafe Device 01-16-73 294,000 56,160 0 Closed

Total $367,800 $107,073 $22,887

Contingency Fund

01-13-115 138,700 33,323 0 Closed

01-16-53 3,794,591 3,794,951 0 Closed

Total $3,933,291 $3,828,274 $0

EXPENDITURES

Solar Energy

Smoke Alarm Installation


UNITED LAGUNA WOODS MUTUAL

MAINTENANCE PROGRAMS EXPENDITURES REPORT

AS OF OCTOBER 31, 2017

2017 %

DESCRIPTION ACTUAL BUDGET ACTUAL BUDGET BUDGET EXPENDED $ %

REPLACEMENTSBUILDING STRUCTURES $17,976 $69,035 $246,999 $690,350 $828,443 30% $443,351 64%

ELECTRICAL SYSTEMS 36,312 31,345 366,198 313,450 376,146 97% (52,748) (17%)

EXTERIOR WALKWAY LIGHTING 371 3,386 1,138 33,860 40,648 3% 32,722 97%

FOUNDATIONS 0 6,250 10,396 62,500 75,000 14% 52,104 83%

GUTTER REPLACEMENT 4,026 2,394 40,790 23,940 28,746 142% (16,850) (70%)

LANDSCAPE RENOVATION 1,644 20,833 188,738 208,330 250,000 75% 19,592 9%

PAINT - EXTERIOR 146,475 174,330 1,478,695 1,743,300 2,091,988 71% 264,605 15%

PRIOR TO PAINT 72,143 69,567 656,863 695,670 834,856 79% 38,807 6%

PAVING 0 13,885 140,803 138,850 166,633 84% (1,953) (1%)

ROOF REPLACEMENTS 127,002 86,634 928,045 866,340 1,039,610 89% (61,705) (7%)

TREE MAINTENANCE 7,100 45,068 572,532 450,680 540,839 106% (121,852) (27%)

WALL REPLACEMENT 0 5,528 0 55,280 66,353 0% 55,280 100%

WASTE LINE REMEDIATION 72,329 125,000 273,755 1,250,000 1,500,000 18% 976,245 78%

WATER LINE - COPPER PIPE REMEDIATION 0 20,833 0 208,330 250,000 0% 208,330 100%

WINDOW/SLIDING SCREEN DOOR 8,712 1,999 61,556 19,990 24,012 256% (41,566) (208%)

SUPPL. APPROPRIATIONS 0 0 2,792 2,792 936 298% 0 0%

SUB-TOTAL $494,090 $676,087 $4,969,300 $6,763,662 $8,114,210 61% $1,794,362 27%

APPLIANCE AND FIXTURE REPLACEMENTSCOOKTOPS $8,597 $6,544 $67,131 $65,440 $78,541 85% ($1,691) (3%)

DISHWASHERS 9,362 13,508 83,064 135,080 162,125 51% 52,016 39%

BASINS/SINKS/TOILETS 21,019 67,645 258,159 676,450 811,856 32% 418,291 62%

GARBAGE DISPOSALS 8,365 6,834 82,033 68,340 82,019 100% (13,693) (20%)

HOODS 5,832 2,739 32,391 27,390 32,886 98% (5,001) (18%)

COUNTER TOPS/FLOORS/SHOWER ENCLOSURES 89,353 92,303 709,022 923,030 1,107,781 64% 214,008 23%

OVENS 12,185 13,007 112,894 130,070 156,093 72% 17,176 13%

RANGES 803 4,027 7,650 40,270 48,333 16% 32,620 81%

REFRIGERATORS 19,220 5,481 228,665 54,810 65,787 348% (173,855) (317%)

WATER HEATERS & PERMITS 13,948 103,311 44,538 1,033,110 1,239,757 4% 988,572 96%

DRYERS 53 2,875 3,282 28,750 34,503 10% 25,468 89%

WASHING MACHINES 116 6,869 7,677 68,690 82,443 9% 61,013 89%

NON WORK CENTER ADJUSTMENTS 0 0 24,539 24,539 24,539 100% 0 0%

SUB-TOTAL $188,856 $325,143 $1,661,046 $3,275,969 $3,926,663 42% $1,614,923 49%TOTAL RESERVE FUND $682,946 $1,001,230 $6,630,346 $10,039,631 $12,040,873 55% $3,409,285 34%

RESERVE EXPENDITURES

VARIANCECURRENT MONTH YEAR-TO-DATE

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2017 %

DESCRIPTION ACTUAL BUDGET ACTUAL BUDGET BUDGET EXPENDED $ %

VARIANCECURRENT MONTH YEAR-TO-DATE

PLUMBING SERVICE $93,875 $103,498 $1,168,410 $1,034,977 $1,241,972 94% ($133,433) (13%)

CARPENTRY SERVICE 41,777 35,887 505,501 358,870 430,644 117% (146,631) (41%)

CONCRETE REPAIR/REPLACEMENT 33,198 29,219 293,549 292,192 350,630 159% (1,358) (0%)

ELECTRICAL SERVICE 29,288 28,129 250,275 281,289 337,547 74% 31,014 11%

APPLIANCE REPAIRS 27,658 26,525 295,154 265,245 318,294 93% (29,909) (11%)

INTERIOR PREVENTIVE MAINTENANCE 26,447 24,150 256,922 241,497 289,796 89% (15,425) (6%)

BLDG. REHAB/DRY ROT 1,222 22,173 79,888 221,729 266,075 30% 141,841 64%

JANITORIAL SERVICE 22,919 19,071 202,442 190,709 228,851 88% (11,733) (6%)

PEST CONTROL FOR TERMITES 17,107 18,868 67,730 188,678 226,413 30% 120,947 64%

ROOF REPAIR 2,841 6,458 147,757 183,251 196,168 75% 35,494 19%

BALCONY/BREEZEWAY RESURFACING 43,802 15,832 285,239 158,318 189,981 150% (126,921) (80%)

GUTTER CLEANING 345 12,126 47,146 121,262 145,514 32% 74,116 61%

COUNTERTOP/FLOOR/TILE REPAIRS 10,296 11,524 99,088 115,235 138,282 72% 16,147 14%

PAINT-TOUCHUP 16,462 10,739 157,407 107,394 128,873 122% (50,013) (47%)

WELDING 6,910 9,372 44,643 93,719 112,463 40% 49,077 52%

ENERGY PROGRAM 1,486 8,117 29,011 81,168 97,401 30% 52,156 64%

PAVING MAINTENANCE & REPAIRS 1,820 7,269 41,132 72,690 87,228 47% 31,558 43%

MISC. REPAIRS BY OUTSIDE SERVICE 0 2,569 12,493 25,685 30,822 41% 13,192 51%

TRAFFIC CONTROL 505 1,318 10,229 13,181 15,817 65% 2,952 22%

FIRE PROTECTION 72 894 8,090 8,944 10,733 75% 854 10%

TOTAL GENERAL MAINTENANCE $378,030 $393,736 $4,002,106 $4,056,031 $4,843,504 83% $53,925 1%

MOISTURE INTRUSION - RAIN LEAKS $7,900 $16,667 $176,728 $166,667 $200,000 88% ($10,061) (6%)

MOISTURE INTRUSION - PLUMBING LEAKS 65,092 40,833 373,234 408,333 490,000 76% 35,100 9%

MOISTURE INTRUSION - PLUMBING STOPPAGES 19,846 11,490 177,574 114,900 137,880 129% (62,674) (55%)

MOISTURE INTRUSION - MISCELLANEOUS 4,176 5,549 47,693 55,490 66,588 72% 7,797 14%

DAMAGE RESTORATION SERVICES 0 12,209 120,045 122,090 146,508 82% 2,045 2%

SUPPLEMENTAL APPROPRATIONS 0 0 186,390 180,949 180,949 103% (5,441) (3%)

TOTAL CONTINGENCY FUND $97,014 $86,748 $1,081,665 $1,048,429 $1,221,925 50% ($33,236) (2%)

OPERATING EXPENDITURES

CONTINGENCY FUND EXPENDITURES

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TOTAL OUTSIDE

DESCRIPTION EXPENDITURES LABOR MATERIALS SERVICES

BALCONY/BREEZEWAY RESURFACING 285,239$ 260,392$ 24,847$ -$

BLDG. REHAB/DRY ROT 79,888 70,005 6,230 3,653

BUILDING STRUCTURES 246,999 131,166 80,964 34,870

CARPENTRY SERVICE 505,501 456,199 33,081 16,222

CONCRETE REPAIR/REPLACEMENT 293,549 266,825 26,724 0

COUNTERTOP/FLOOR/TILE REPAIRS 99,088 87,722 4,576 6,790

ELECTRICAL SERVICE 250,275 204,891 39,164 6,220

DAMAGE RESTORATION SERVICES 120,045 11,266 608 108,171

ELECTRICAL SYSTEMS 366,198 0 0 366,198

ENERGY PROGRAM 29,011 0 0 29,011

EXTERIOR WALKWAY LIGHTING 1,138 440 76 622

FIRE PROTECTION 8,090 0 841 7,249

FOUNDATIONS 10,396 0 0 10,396

GUTTER CLEANING 47,146 47,146 0 0

GUTTER REPLACEMENT 40,790 38,289 2,501 0

INTERIOR PREVENTIVE MAINTENANCE 256,922 255,177 1,745 0

JANITORIAL SERVICE 202,442 201,199 1,243 0

LANDSCAPE RENOVATION 188,738 156,280 32,458 0

MISCELLANEOUS REPAIRS BY OUTSIDE SERVICE 12,493 0 0 12,493

MOISTURE INTRUSION - RAIN LEAKS 176,728 0 0 176,728

MOISTURE INTRUSION - PLUMBING LEAKS 373,234 0 0 373,234

MOISTURE INTRUSION - PLUMBING STOPPAGES 177,574 0 0 177,574

MOISTURE INTRUSION - MISCELLANEOUS 47,693 0 0 47,693

NON WORK CENTER ADJUSTMENTS 24,539 0 0 24,539

PAINT - EXTERIOR 1,478,695 1,241,940 235,777 977

PAINT-TOUCHUP 157,407 150,004 7,403 0

PAVING 140,803 0 0 140,803

PAVING MAINTENANCE & REPAIRS 41,132 37,498 3,634 0

PEST CONTROL FOR TERMITES 67,730 0 0 67,730

PLUMBING SERVICE 1,168,410 1,027,854 66,998 73,558

PRIOR TO PAINT 656,863 600,424 55,050 1,389

ROOF REPAIR 147,757 0 0 147,757

ROOF REPLACEMENTS 928,045 0 0 928,045

SUPPL. APPROPRIATIONS 189,182 936 4,129 184,117

TRAFFIC CONTROL 10,229 6,467 3,762 0

TREE MAINTENANCE 572,532 572,532 0 0

WALL REPLACEMENT 0 0 0 0

WASTE LINE REMEDIATION 273,755 13,453 901 259,402

WELDING 44,643 43,922 721 0

WINDOW/SLIDING SCREEN DOOR 61,556 33,811 10,442 17,304

TOTAL PROGRAMS 9,782,457$ 5,915,839$ 643,873$ 3,222,746$

APPLIANCE REPAIRS 295,154$ 271,972$ 23,181$ -$

BASINS/SINKS/TOILETS 258,159 88,532 169,627 0

COOKTOPS 67,131 12,554 33,817 20,761

COUNTER TOPS/FLOORS/SHOWER ENCLOSURES 709,022 330,313 189,048 189,661

DISHWASHERS 83,064 31,974 26,167 24,922

DRYERS 3,282 1,174 2,108 0

GARBAGE DISPOSALS 82,033 26,694 55,339 0

HOODS 32,391 14,533 11,296 6,562

OVENS 112,894 16,001 60,888 36,006

RANGES 7,650 2,748 2,086 2,816

REFRIGERATORS 228,665 52,868 105,913 69,884

WASHING MACHINES 7,677 3,157 4,520 0

WATER HEATERS & PERMITS 44,538 20,469 24,069 0

TOTAL APPLIANCES 1,931,660$ 872,990$ 708,058$ 350,612$

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