EXHIBIT 7-A
MONTEREY PENINSULA WATER MANAGEMENT DISTRICT
INVESTMENT REPORT AS OF DECEMBER 31, 2003
MPWMD
Fund	Issuing Institution	Purchase	Maturity				Annual Rate	Portfolio
Description	Security Description	Date	Date	Cost Basis	Par Value	Market Value	of Return	Distribution
Liquid	Local Agency Investment Fund	12/31/2003	1/1/2004	$201,112	$201,112	$201,112	1.56%	4.87%
	Bank of America							14.70%
Cash	Money Market	12/31/2003	1/1/2004	$491,014	$491,014	$491,014	0.96%
	Checking	12/31/2003	1/1/2004	116,536	116,536	116,536	0.00%
				$607,550	$607,550	$607,550	0.78%
	Wells Capital Management							80.44%
	Fed Home Ln Bks	6/11/2003	6/17/2004	$262,893	$250,000	$255,783	6.09%
	Fed Home Ln Bks	12/15/2003	1/14/2005	257,280	250,000	257,110	4.01%
	Fed Natl Mtg Assn	6/30/2003	4/2/2004	248,019	250,000	249,350	1.05%
	Fed Home Ln Mtg Corp	11/19/2003	4/22/2004	346,352	348,000	346,921	1.12%
	Fed Home Ln Bks	4/8/2003	5/14/2004	519,090	500,000	506,875	4.81%
	Fed Natl Mtg Assn	12/4/2003	12/15/2004	301,089	300,000	301,593	1.87%
	Fed Natl Mtg Assn	9/2/2003	1/7/2004	348,642	350,000	349,965	1.12%
Corp. Obligations	Merrill Lynch and Co.	3/20/2002	6/15/2004	255,490	250,000	254,560	5.25%
V. Liquid Assets	Barclays Sec Agency Repo	12/31/2003	1/1/2004	400,000	400,000	400,000	1.27%
	Lehman Agency Repo	12/31/2003	1/1/2004	350,000	350,000	350,000	1.77%
	Secured Money Market	12/31/2003	1/1/2004	52,398	52,398	52,398	0.36%
				$3,341,253	$3,300,398	$3,324,555	2.76%
								investrpt2qtr0304
TOTAL MPWMD				$4,149,915	$4,109,060	$4,133,217	2.41%	3/1/2004
u/staff/word/boardpacket/2004/2004boardpacket/20040315/ConsentCalendar/7/item7_exh7a.xls