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	12/31/03	01/01/04	$201,112	$201,112	$201,112	1.56%	4.87%
	Bank of America							14.70%
Cash	Money Market	12/31/03	01/01/04	$491,014	$491,014	$491,014	0.96%
	Checking	12/31/03	01/01/04	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	06/11/03	06/17/04	$262,893	$250,000	$255,783	6.09%
	Fed Home Ln Bks	12/15/03	01/14/05	257,280	250,000	257,110	4.01%
	Fed Natl Mtg Assn	06/30/03	04/02/04	248,019	250,000	249,350	1.05%
	Fed Home Ln Mtg Corp	11/19/03	04/22/04	346,352	348,000	346,921	1.12%
	Fed Home Ln Bks	04/08/03	05/14/04	519,090	500,000	506,875	4.81%
	Fed Natl Mtg Assn	12/04/03	12/15/04	301,089	300,000	301,593	1.87%
	Fed Natl Mtg Assn	09/02/03	01/07/04	348,642	350,000	349,965	1.12%
Corp. Obligations	Merrill Lynch and Co.	03/20/02	06/15/04	255,490	250,000	254,560	5.25%
V. Liquid Assets	Barclays Sec Agency Repo	12/31/03	01/01/04	400,000	400,000	400,000	1.27%
	Lehman Agency Repo	12/31/03	01/01/04	350,000	350,000	350,000	1.77%
	Secured Money Market	12/31/03	01/01/04	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