EXHIBIT 7-A
MONTEREY PENINSULA WATER MANAGEMENT DISTRICT
INVESTMENT REPORT AS OF DECEMBER 31, 2003
WASTEWATER RECLAMATION PROJECT
Fund	Issuing Institution	Purchase	Maturity				Annual Rate	Portfolio
Description	Security Description	Date	Date	Cost Basis	Par Value	Market Value	of Return	Distribution
	Prudential Securities							42.22%
O&M Reserve	Sonoma Cnty CA Ctfs Partn	10/1/2003	11/15/2017	$25,000	$25,000	$24,894	4.02%
	CA Hsg Fin Agy Rev	11/28/2001	8/1/2010	51,779	50,000	53,153	4.33%
	CA ST Univ Rev	1/22/2003	11/1/2011	49,994	50,000	50,724	3.25%
	CA Hsg Fin Agy Rev	5/30/2001	2/1/2010	50,026	50,000	53,076	4.33%
	San Jose Ca Red Agy	6/3/2002	8/1/2010	21,726	20,000	22,161	4.51%
	Abag Fin Auth CA non profit corp	6/3/2002	4/1/2012	51,603	50,000	51,867	4.43%
	Lancaster CA Hsng Auth	6/4/2002	4/1/2014	20,592	20,000	20,986	4.57%
	Money Market Fund	12/31/2003	1/1/2004	22,224	22,224	22,224	0.49%
R&R Reserve	Federal Home Loan Mortgage	4/19/2002	10/15/2012	15,038	15,000	14,760	4.57%
	Federal Home Loan Mortgage	8/23/2002	9/13/2007	65,000	65,000	66,341	3.92%
	Federal National Mortgage	10/30/2003	1/25/2013	50,722	50,000	47,598	5.48%
	General Motors Accept Corp	12/3/2001	8/15/2006	24,558	25,000	25,920	5.30%
	Oceanside CA Ctfs Partn	10/8/2003	1/1/2004	66,428	60,000	64,675	3.71%
	Money Market Fund	12/31/2003	1/1/2004	5,405	5,405	5,405	0.49%
				$520,095	$507,629	$523,784	4.07%
	US Bank Corp Trust Services							7.06%
Trustee Held Funds	Acquisition Fund	12/31/2003	1/1/2004	$54,220	$54,220	$54,220	0.64%
	Certificate Payment Fund	12/31/2003	1/1/2004	2,156	2,156	2,156	0.42%
	Interest Fund	12/31/2003	1/1/2004	31,173	31,173	31,173	0.00%
	Rebate Fund	12/31/2003	1/1/2004	16	16	16	0.00%
				$87,565	$87,565	$87,565	0.41%
	Bank of America							50.72%
Cash	Money Market Fund	12/31/2003	1/1/2004	$629,279	$629,279	$629,279	1.00%
TOTAL RECLAMATION				$1,236,939	$1,224,473	$1,240,628	2.25%
These investments include sufficient liquid funds to meet anticipated expenditures
for the next six months as reflected in the annual budget adopted June 16, 2003
u/staff/word/boardpacket/2004/2004boardpacket/20040315/ConsentCalendar/7/item7_exh7a.xls