Management West Variances

Last month we briefly discussed a $306,900 variance between the general=20
ledger and the DPR for the management west book.=01; I took an action item =
to=20
provide documentation of where I was seeing the value taken in the DPR back=
=20
in January 2001.=01; Accordingly, the liquidation detail for post id 102621=
0 is=20
in the attached file titled "MGMTWST_JAN_LIQ".=01; The issue is that it=01;=
appears=20
Deal QO9203.1 erroneously liquidated in the month of January at a value of=
=20
$306,900 when the deal has a March term date and valued correctly in the=20
liquidations for that month (creating a duplicate liquidation for the same=
=20
deal).=01; Please review the detail and let me know if you agree that the=
=20
expense was taken in error by the management west book in Jan, or if I have=
=20
picked up the incorrect post id, or if there is some other issue that I hav=
e=20
missed.
=01;
The only other remaining variances for the management west book relate to=
=20
Mirant Americas Energy Marketing.=01; I have been working with the financia=
l=20
settlements group to determine the variances between the liquidated value a=
nd=20
the amount settled;=01;the "MGMTWST_MIRANT" file summarizes the differences=
.=01;=20
Essentially, the liquidated value for 3 deals did not pick up the fixed pri=
ce=20
deduct values shown in TAGG, and one deal with a term date of November 2000=
=20
through March 2001 did not ever liquidate.=01; The file has a summary page =
and=20
then supporting worksheets for each deal listed.=01;=20
=01;
The net effect, if you agree that the adjustments need to be made to the DP=
R,=20
would be expense of $33,500 for the Mirant Americas Energy items and revenu=
e=20
of $306,900 for reversal of the January liquidation on deal QO9203.1
=01;
Please=01;call me on extension 5-4945 if you would like to discuss or if yo=
u=20
need me to provide additional information.=01;=20
=01;
Best regards,
=01;
Rachel
=01;
=01;