IO LTA R evenue $- $500,000 $1,000,000 $1,500,000 $2,000,000 $2,500,000 $3,000,000 $3,500,000 Yr92 Yr93 Yr94 Yr95 Yr96 Y r97 Y r98 Yr99 Yr00 Yr01 Yr02 Yr03 Yr04 Yr05 Yr06 Yr07 Yr 9 2 $1,34 2,009 Yr 9 3 $1,04 4,296 Yr 9 4 $1,15 9,356 Yr 9 5 $1,32 0,033 Yr 9 6 $1,39 1,380 Yr 9 7 $1,50 8,607 Yr 9 8 $1,53 0,045 Yr 9 9 $1,28 0,571 Yr 0 0 $1,61 7,651 Internal Controls Impacting Amounts 2004 – Increase monitoring 2005 -Change in Rule: reasonable charge, no negative netting, agreement signed 2007 - Comparability IOLTA Revenue History External Factors Impacting Amounts Principal Balances rising Interest rates on some accounts Increased # accounts – (~300)
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Yr 92 $1,342,009 Yr 93 $1,044,296 Yr 94 $1,159,356 Yr 95 $1,320,033 Yr 96 $1,391,380 Yr 97 $1,508,607 Yr 98 $1,530,045 Yr 99 $1,280,571 Yr 00 $1,617,651.
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IOLTA Revenue
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
Yr 92 Yr 93 Yr 94 Yr 95 Yr 96 Yr 97 Yr 98 Yr 99 Yr 00 Yr 01 Yr 02 Yr 03 Yr 04 Yr 05 Yr 06 Yr 07
Yr 92 $1,342,009
Yr 93 $1,044,296
Yr 94 $1,159,356
Yr 95 $1,320,033
Yr 96 $1,391,380
Yr 97 $1,508,607
Yr 98 $1,530,045
Yr 99 $1,280,571
Yr 00 $1,617,651
Yr 01 $1,415,661
Yr 02 $1,228,602
Yr 03 $1,113,004
Yr 04 $1,149,473
Yr 05 $1,892,573
Yr 06 $2,507,511
Yr 07 $2,877,392
Internal Controls Impacting Amounts
2004 – Increase monitoring
2005 -Change in Rule: reasonable charge, no negative netting, agreement signed
2007 - Comparability
IOLTA Revenue History External Factors Impacting Amounts
Sum of INTEREST DIFFBANK Total1st Bank Yuma 2$ Arizona Business Bank 2,712$ Bank of the West 242$ Bank of Tucson 1,004$ Biltmore Bank of Arizona -$ BofA 153$ Chase Bank 21,934$ Comerica Bank 73$ Commerce Bank of Arizona 977$ Country BankFirst Fidelity -$ First National Bank of Arizona 1,852$ Gold Canyon Bank 1$ Harris Bank 31,144$ Heritage Bank 25$ Ironstone Bank 867$ Johnson Bank 7,142$ Meridian Bank 13$ Mesa Bank 1,906$ MidFirst Bank (1)$ National Bank of Arizona 191$ Northern Trust Bank 5,904$ Pinnacle BankSouthern Arizona Community Bank 235$ Summit Bank -$ Sunrise Bank of Arizona 220$ US Bank 292$ Valley First Community Bank 212$ Wells Fargo Bank 94,076$ Western National Bank 116$ Grand Total 171,293$
National sent $33,112 as donation and commitment to match business saving product. With lower fed rate – the keeps the interest remitted the same.
Brand new staff – not much movement
Reviewing retro proposal – implementing money market with no fees -$20K to $28K increase
Communication
continues.
January Net Increase if Comparability Rate
$21,934
$31,138
$7,142 $5,876
$94,019
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
$90,000
$100,000
Chase Bank Harris Bank Johnson Bank Northern Trust Bank Wells Fargo Bank
NO
YES
Drop Page Fields Here
Sum of INTEREST DIFF
BANK
Diff > $1K
January 2008 Comparability Noncompliance – Major Banks
2008 Actual vs Budget
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
January February
2008 Actual
Budgeted
IF comparability 100%Jan Income would have been $431,114