EXHIBIT 7-A
MONTEREY PENINSULA WATER MANAGEMENT DISTRICT
INVESTMENT REPORT AS OF DECEMBER 31, 2004
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	12/31/04	01/01/05	$104,254	$104,254	$104,254	2.00%	2.76%
	Bank of America							16.71%
Cash	Money Market	12/31/04	01/01/05	$620,618	$620,618	$620,618	1.38%
	Checking	12/31/04	01/01/05	10,130	10,130	10,130	0.00%
				$630,748	$630,748	$630,748	1.36%
	Wells Capital Management							80.53%
	Federal Home Loan Bank	10/27/04	08/15/05	$101,483	$100,000	$100,281	2.78%
	Federal Home Loan Bank	12/02/04	03/15/06	149,929	150,000	149,016	2.96%
	Federal Home Loan Bank	12/15/03	01/14/05	257,280	250,000	250,078	1.40%
	Federal Home Loan Bank	04/27/04	04/15/05	300,051	300,000	299,250	1.61%
	Federal Home Loan Bank	06/17/04	03/15/05	249,982	250,000	249,973	2.41%
	Federal Home Loan Bank	04/02/04	08/26/05	249,983	250,000	247,970	1.50%
	Federal Natl Mtg Assn	05/17/04	02/15/05	519,810	500,000	502,655	1.74%
	Federal Farm Credit Bank	12/01/04	11/18/05	145,996	150,000	146,205	2.82%
	Federal Home Ln Mtg Corp	11/16/04	05/10/05	395,294	400,000	396,440	2.48%
	Federal Natl Mtg Assn	12/15/04	06/01/05	345,851	350,000	346,220	2.61%
	Federal Natl Mtg Assn	12/15/04	04/08/05	297,692	300,000	298,080	2.48%
V. Liquid Assets	Secured Money Market	12/31/04	01/01/05	52,981	52,981	52,981	1.38%
				$3,066,332	$3,052,981	$3,039,149	2.14%
								investrpt1qtr0405
TOTAL MPWMD				$3,801,334	$3,787,983	$3,774,151	2.01%	11/8/2004