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N E L S O N C O N W A Y , C .P .A . K E R M IT M OE, C .P .A . C L A R E N C E T . H IB B S , C .P .A . R. Y O R K F U N S T O N , C .P.A . C o n w a y , M o e , H i b b s & F u n s t o n . C E R T IF IE D P U B L IC A C C O U N T A N T S 4 4 0 W E S T H O O V E R S T R E E T L A S V E G A S . N E V A D A M E M B E R S A M E R IC A N IN S T I T U T E O F A C C O U N T A N T S T E L E P H O N E 7 0 2 0 June 9, 1954 Mr. Harry E. Miller, Secretary-Treasurer Las Vegas Valley Water District 900 South Fifth Street Las Vegas, Nevada Dear Sir: Re: Funds Available for Temporary Investment In our letter to you of this date, we suggested the establishment of cer­tain cash funds. An analysis of your immediate cash requirements discloses the following funds available for temporary investment in short term government obligations: Less: Preliminary purchase price, (tentative) Purchase price adjustment fund The foregoing balance is available for temporary investment until such time as the District undertakes its construction program. Available for investment until February 1, 1955 Available for investment until February 1, 1955 The organization and working capital fund of $ 535,000.00 should not be in­vested at the present time, pending more accurate determination of outstanding obligations and working capital requirements. (l) Acquisition and construction fund $ 7,827,691.38 (estimated) 200, 000.00 352.000.00 Re-location fund 2.869.663.43 Balance 4.958,027.95 (2) Reserve for bond interest | 346.000.00 (3) Sinking fund -- bond service $ 84.466.55 Yours very truly, CONWAY, MOE, HIBBS & FUNSTON By: Nelson Conway ^ NC/t