Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - CAPITAL CORP OF THE WEST | f54981e8vk.htm |
Exhibit 99.1
UNITED STATES BANKRUPTCY COURT
EASTERN DISTRICT OF CALIFORNIA
EASTERN DISTRICT OF CALIFORNIA
| In re: Capital Corp of the West | Case no.: 09-14298-B-l 1F | |
| MONTHLY REPORT OF | ||
| OPERATIONS |
| MONTH ENDING 1-Jan 2010 |
Debtor in possession hereby submits its Monthly Report on the Cash Basis of accounting.
CASH BASIS
Attached hereto are the
following schedules:
A. Cash Receipts and Cash Disbursements
|
þ | |
B. Summary of Receipts & Disbursements to Date
|
þ | |
C. Balance in Debtor in Possession Account
|
þ | |
D. Balance in Tax Account
|
N/A | |
E. Balance in Citibank DIP Account
|
þ | |
F. Post Petition Debts
|
N/A | |
G. Accounts Receivable Balance
|
N/A | |
H. Inventory Balance
|
N/A | |
I. Federal and State Taxes
|
N/A | |
J. Monthly Operating Statement Questionnaire
|
þ | |
K. Other Appropriate Schedules
|
þ |
| NOTES: | Schedules A, B, C, F, I & J MUST be filed. Attach Schedules D, E, G, H & K if they are maintained in the ordinary course of the business. |
SCHEDULE A
CASH RECEIPTS AND DISBURSEMENTS
CASH RECEIPTS AND DISBURSEMENTS
RECEIPTS
Cash sales |
N/A | |||
Rents collected |
N/A | |||
Accounts receivable collected |
— | |||
Other receipts (describe): |
||||
a. |
||||
b. |
||||
1. TOTAL RECEIPTS |
$ | — | ||
DISBURSEMENTS
Payments to vendors for merchandise |
N/A | |||
Net payroll paid |
36,239.92 | |||
Payroll taxes paid/deposited to tax account: |
||||
Employee withholdings |
N/A | |||
Employer portion |
N/A | |||
Sales taxes paid/deposited to tax account |
N/A | |||
Other disbursements (describe): |
||||
a. Computer & Internet Costs |
$ | 620.52 | ||
b. Office Supplies |
1,398.18 | |||
c. Travel Expenses |
135.40 | |||
d. Public Disclosure Issuance Costs |
12,935.00 | |||
e. Rent Expense |
1,280.00 | |||
f. Telephone Expense |
533.59 | |||
g. General Liability Insurance |
— | |||
h. U. S Trustee Fees |
1,625.00 | |||
i. Shareholder Registration &
Maintenance |
9,300.52 | |||
j. Tax Return Preparation |
3,140.40 | |||
k. Creditor’s Committee Legal Fees |
5,940.89 | |||
l. Postage & Delivery |
210.12 | |||
Miscellaneous (attach listing) |
||||
Living allowance or draw |
N/A | |||
2. TOTAL
DISBURSEMENTS |
$ | 73,359.54 | ||
3. Receipts OVER or (UNDER)
disbursements |
$ | (73,359.54 | ) | |
SCHEDULE B
SUMMARY OF CASH TRANSACTIONS
SINCE FILING PETITION
SUMMARY OF CASH TRANSACTIONS
SINCE FILING PETITION
4. Total receipts to date (Prior month Schedule B line 4 plus current month Schedule A line 1) |
$ | 9,290,107.55 | ||
5. Total disbursements to date (Prior month Schedule B line 5 plus current month Schedule A line 2) |
$ | 540,794.82 | ||
6. Net receipts over (under) disbursements |
$ | 8,749,312.73 | ||
SCHEDULE C — SEE ATTACHED SPREADSHEET BALANCE IN DEBTOR IN POSSESSION ACCOUNT |
||||
Balance at end of last month |
$ | 15,557,860.44 | ||
Net transactions for this month (Line 3 — Schedule A) |
(73,359.54 | ) | ||
Balance at end of this month |
$ | 15,484,500.90 | ||
SCHEDULE D — SEE ATTACHED SPREADSHEET BALANCE IN TAX ACCOUNT |
||||
Balance at end of last month |
$ | — | ||
Add deposits from general account |
— | |||
Subtotal |
$ | — | ||
Deduct payments to taxing agencies |
||||
Balance at end of this month |
$ | — | ||
SCHEDULE E — SEE ATTACHED SPREADSHEET BALANCE IN ACCOUNTS |
||||
Balance at end of last month |
$ | — | ||
Add deposits from general account |
— | |||
Subtotal |
$ | — | ||
Deduct disbursements |
— | |||
Balance at end of this month |
$ | — | ||
SCHEDULE F
POST PETITION DEBTS
POST PETITION DEBTS
Balance at end of last month — Not Applicable |
$ | — | ||
Add debts incurred this month |
— | |||
Subtotal |
$ | — | ||
Deduct payments made this month on this balance |
— | |||
Subtotal |
$ | — | ||
Adjustments (Explain on separate sheet) |
— | |||
Balance at end of this month (Attach listing) |
$ | — | ||
SCHEDULE G
ACCOUNTS RECEIVABLE BALANCE
ACCOUNTS RECEIVABLE BALANCE
Balance of receivables at end of last month — Not Applicable |
$ | — | ||
Add new receivables for this month |
— | |||
Subtotal |
$ | — | ||
Deduct accounts collected (From Schedule A) |
— | |||
Subtotal |
$ | — | ||
Adjustments (Explain on separate sheet) |
— | |||
Balance at end of this month (Attach listing) |
$ | — | ||
SCHEDULE H
INVENTORY AND COST OF GOODS SOLD
INVENTORY AND COST OF GOODS SOLD
Inventory balance at end of last month — Not Applicable |
$ | — | ||
Add merchandise purchase |
— | |||
Total inventory available |
$ | — | ||
Adjustments (Explain on separate sheet) |
— | |||
Less inventory balance at end of this month |
— | |||
Total (Cost of goods sold) |
$ | — | ||
SCHEDULE I
FEDERAL AND STATE TAXES
FEDERAL AND STATE TAXES
1. Tax balance at end of last month — Not Applicable |
$ | — | ||||||
PAYROLL TAX LIABILITY THIS MONTH: |
||||||||
| Period: o Weekly o Biweekly o Semimonthly o Monthly | ||||||||
| Fed. Employer or S.S. # __________ EDD ID# __________ | ||||||||
Withholdings: |
||||||||
Federal income tax |
$ | — | ||||||
FICA withheld |
||||||||
State income tax |
||||||||
State disability |
||||||||
Employer tax liability: |
||||||||
FICA |
||||||||
Federal unemployment |
||||||||
State unemployment |
||||||||
2. Total payroll taxes due |
$ | — | ||||||
SALES TAX LIABILITY THIS MONTH: |
||||||||
State Board of Equalization ID# __________ |
||||||||
Sales tax liability |
$ | — | ||||||
Other (excise, city, business, etc.) |
||||||||
3. Total sales taxes due |
$ | — | ||||||
SUMMARY OF TAX PAYMENTS MADE THIS MONTH:
| Payee | Date Paid | Bank Acct. # | Check # | Amount | ||||||||||||
| $ | — | |||||||||||||||
4. Total payments made |
$ | — | ||
Tax balance at end of this month (add line 1+2+3 less line 4) |
$ | — | ||
SCHEDULE J
MONTHLY OPERATING STATEMENT QUESTIONNAIRE
MONTHLY OPERATING STATEMENT QUESTIONNAIRE
| Yes | No | N/A | ||||||
| 1. | Copies of checkbooks or receipts and disbursements listings attached: |
|||||||
Debtor in possession account (Activated As Of June 5) |
þ | o | o | |||||
Tax account |
o | o | þ | |||||
Other account |
o | o | þ | |||||
| 2. | Listing of unpaid post-petition debts |
o | o | þ | ||||
(include unpaid professional fees and interest owed) |
||||||||
| 3. | Have any payments been made to secured creditors or lessors? |
o | þ | |||||
(If yes - attach listing of payments made) |
||||||||
| 4. | (a) Have any payments been made to officers, shareholders, insiders, |
þ | o | |||||
relatives or professionals? See Attached Payroll Summaries |
||||||||
(If yes - attach listing of payments made) |
||||||||
(b) Were these payments approved by the court? |
þ | o | ||||||
| 5. | (a) Have any payments been made on prepetition debts? |
o | þ | |||||
(If yes - attach listing of payments made) |
||||||||
(b) Were these payments approved by the court? |
||||||||
| 6. | Do you carry insurance coverage of any kind? |
þ | o | |||||
Attach copies of declaration pages (Data Previously Provided) |
||||||||
Note: If you have previously submitted copies of declaration pages &
there have been no changes in coverage initial here (no copies needed) |
||||||||
| 7. | Have U.S. Trustee quarterly fees been paid? (Response Follows) |
þ | o | |||||
Debtor filed Petition on May 11, 2009. Q2 2009 Trustee Fees of
$975.00 paid on July 27, 2009. 03 2009 Trustee Fees of $1,950.00 paid
on October 31, 2009. 04 2009 Trustee Fees of $1,625.00 paid on
January 25, 2010. |
DECLARATION OF DEBTOR
I certify under penalty of perjury that the foregoing is true and correct.
February 11, 2010
|
/s/ David A. Heaberlin
|
I have reviewed the Monthly Report of Operations and, after making reasonable inquiry,
believe that the information is true and correct.
/s/ David A. Heaberlin
(MOR-1:6/90)
Capital Corp of the West
09-14298-B-11F
09-14298-B-11F
| Cash/Bank Account | Beginning Balance | Transfers | Ending Balance | |||||||||||||||||
| Bank & Acct # | 31-Dec-09 | Receipts | Disbursements | in (+)/out (-) | 31-Jan-10 | |||||||||||||||
Citibank DIP Accounts: |
$ | — | $ | — | ||||||||||||||||
Operating A/C # 9951707360 |
$ | 6,251,366.93 | $ | — | $ | 73,359.54 | $ | — | $ | 6,178,007.39 | ||||||||||
Federal Tax Refund A/C # 9951707387 (See Note 7 Below) |
$ | 8,900,454.00 | $ | — | $ | — | $ | — | $ | 8,900,454.00 | ||||||||||
California Tax Refund A/C # 9951707416 (See Note 7
Below) |
$ | 30,800.00 | $ | — | $ | — | $ | — | $ | 30,800.00 | ||||||||||
Insurance Refund A/C # 9951707424 |
$ | 375,239.51 | $ | — | $ | — | $ | — | $ | 375,239.51 | ||||||||||
| $ | — | $ | — | |||||||||||||||||
Total |
$ | 15,557,860.44 | $ | — | $ | 73,359.54 | $ | — | $ | 15,484,500.90 | ||||||||||
Notes:
| 1. | All cash accounts (including petty cash) should be reflected on spreadsheet | |
| 2. | Transfers must total zero | |
| 3. | Total ending cash on hand must be supported by detailed registers, bank recs, balance sheet, etc. | |
| 4. | Net change in cash (receipts less disbursements) must be supported by detailed registers and Schedule A. | |
| 5. | Schedules C, D and/or E need not be completed if this spreadsheet is used. Notation should be made on Schedules C, D and/or E to “see attached spreadsheet.” | |
| 6. | Beg balance must agree with the prior month’s ending balance or, for the first month only, this amount should agree with the cash on hand as of the filing date. | |
| 7. | The Debtor has established segregated bank accounts pursuant to a Stipulation between Capital Corp of the West (the Debtor), the Creditor’s Committee and the Federal Deposit Insurance Corporation regarding certain Federal and State of California income tax refunds. This Stipulation was filed on October 20, 2009 and approved by the Court by an Order dated November 2, 2009. The Citibank Account No. 9951707387 (shown above) constitutes the Escrow Account pursuant to the Stipulation. As of January 31, 2010, a $50,000 Federal Income Tax 2008 related refund; a $30,800 California Tax 2008 related refund; and certain Federal Income Tax refunds in the amount of $2,872,522 (2007) and $5,977,932 (2006) have been received. | |
| 8. | The Debtor has filed Federal and California tax refund requests in the amount of $10,056 million
and $2,324 million, respectively. The Debtor has received
a significant portion of the expected Federal Income Tax refunds (See Note 7 Above). The Debtor
expects a further Federal Income Tax refund of $1,182,326
during the first quarter of 2010. The $2,324 million California Income Tax refund is currently
being subjected to a State of California examination which
the Debtor is hopeful will be completed during the first quarter of 2010. The potential refund
amounts are based on the best information available from
the Debtor’s accountants and tax consultants at this time.
Recent Tax Law changes under the Worker, Homeownership and Business Assistance Act of 2009 now allow the Debtor to carryback net operating losses for five years. The Debtor will be undertaking a process to determine whether the 2008 or the 2009 tax year should be used (either 2008 or 2009 can be carried back 5 years but not both) to maximize any potential further Federal Income tax refunds. The 2009 Tax Return must first be completed to determine which approach will produce the best financial results for the Debtor. Given that the Debtor has meaningful additional potential tax refunds and that the actual recovery of same remains uncertain, these tax refunds have not been included in the Balance Sheet of the Debtor included herein. See Note 7 Above. |
|
| 9. | The January 31, 2010 and the December 31, 2009 Balance Sheets reflect $3,500 in Priority Claims related to certain Deferred Compensation claims representing payments deferred within the six month period immediately preceding the Debtor’s Bankruptcy Petition. |
Capital Corp of the West
Profit & Loss
January 2010
Profit & Loss
January 2010
Cash Basis
| Jan 10 | Dec 09 | $ Change | ||||||||||
Income |
||||||||||||
Refunds |
||||||||||||
Tax Refunds |
||||||||||||
IRS Tax Refunds |
0.00 | 8,850,454.00 | -8,850,454.00 | |||||||||
Total Tax Refunds |
0.00 | 8,850,454.00 | -8,850,454.00 | |||||||||
Total Refunds |
0.00 | 8,850,454.00 | -8,850,454.00 | |||||||||
Total Income |
0.00 | 8,850,454.00 | -8,850,454.00 | |||||||||
Expense |
||||||||||||
Compensation Costs |
36,239.92 | 41,835.56 | -5,595.64 | |||||||||
Computer and Internet Expenses |
620.52 | 306.00 | 314.52 | |||||||||
Director Fees |
0.00 | 3,550.00 | -3,550.00 | |||||||||
Office Supplies |
1,398.18 | 0.00 | 1,398.18 | |||||||||
Postage and Delivery |
210.12 | 0.00 | 210.12 | |||||||||
Professional Fees |
||||||||||||
Creditor’s Committee Legal Fees |
5,940.89 | 9,780.57 | -3,839.68 | |||||||||
Tax Return Preparation |
3,140.40 | 0.00 | 3,140.40 | |||||||||
Total Professional Fees |
9,081.29 | 9,780.57 | -699.28 | |||||||||
Public Disclosure Issuance Cost |
12,935.00 | 0.00 | 12,935.00 | |||||||||
Rent Expense |
1,280.00 | 1,280.00 | 0.00 | |||||||||
Shareholder Registration & Main |
9,300.52 | 0.00 | 9,300.52 | |||||||||
Telephone Expense |
533.59 | 0.00 | 533.59 | |||||||||
Travel Expense |
135.40 | 0.00 | 135.40 | |||||||||
U. S. Trustee Fees |
1,625.00 | 0.00 | 1,625.00 | |||||||||
VOID |
0.00 | 0.00 | 0.00 | |||||||||
Total Expense |
73,359.54 | 56,752.13 | 16,607.41 | |||||||||
Net Income |
-73,359.54 | 8,793,701.87 | -8,867,061.41 | |||||||||
Schedule J — Question 1
Capital Corp of the West
Profit & Loss Detail
January 2010
Profit & Loss Detail
January 2010
Cash Basis
| Type | Date | Num | Name | Memo | Clr | Split | Original Amount | Paid Amount | Balance | |||||||||||||||
Income |
0.00 | |||||||||||||||||||||||
Expense |
||||||||||||||||||||||||
Compensation Costs |
||||||||||||||||||||||||
Check |
1/4/2010 | 0000 | Administaff | Week Ende | Operating Ac | 9,427.48 | 9,427.48 | 9,427.48 | ||||||||||||||||
Check |
1/11/2010 | 0000 | Administaff | Week Ende | Operating Ac | 8,937.48 | 8,937.48 | 18,364.96 | ||||||||||||||||
Check |
1/20/2010 | 0000 | Administaff | Week Ende | Operating Ac | 8,937.48 | 8,937.48 | 27,302.44 | ||||||||||||||||
Check |
1/22/2010 | 0000 | Administaff | Week Ende | Operating Ac | 8,937.48 | 8,937.48 | 36,239.92 | ||||||||||||||||
Total Compensation Costs |
36,239.92 | 36,239.92 | ||||||||||||||||||||||
Computer and Internet Expenses |
||||||||||||||||||||||||
Check |
1/25/2010 | 5076 | Comcast | January Ser | Operating Ac | 310.87 | 310.87 | 310.87 | ||||||||||||||||
Check |
1/31/2010 | 5081 | Comcast | February Se | Operating Ac | 309.65 | 309.65 | 620.52 | ||||||||||||||||
Total Computer and Internet Expenses |
620.52 | 620.52 | ||||||||||||||||||||||
Office Supplies |
||||||||||||||||||||||||
Check |
1/11/2010 | 5069 | David Heaberlin | Operating Ac | 918.12 | 918.12 | 918.12 | |||||||||||||||||
Check |
1/30/2010 | 5078 | David Heaberlin | Operating Ac | 480.06 | 480.06 | 1,398.18 | |||||||||||||||||
Total Office Supplies |
1,398.18 | 1,398.18 | ||||||||||||||||||||||
Postage and Delivery |
||||||||||||||||||||||||
Check |
1/11/2010 | 5069 | David Heaberlin | Operating Ac | 194.42 | 194.42 | 194.42 | |||||||||||||||||
Check |
1/30/2010 | 5078 | David Heaberlin | Operating Ac | 15.70 | 15.70 | 210.12 | |||||||||||||||||
Total Postage and Delivery |
210.12 | 210.12 | ||||||||||||||||||||||
Professional Fees |
||||||||||||||||||||||||
Creditor’s Committee Legal Fees |
||||||||||||||||||||||||
Check |
1/18/2010 | 5070 | Klein, Denateli, Go | Interim Fee | Operating Ac | 2,853.50 | 2,853.50 | 2,853.50 | ||||||||||||||||
Check |
1/25/2010 | 5073 | Klein, Denateli, Go | Interim Fee | Operating Ac | 3,087.39 | 3,087.39 | 5,940.89 | ||||||||||||||||
Total Creditor’s Committee Legal Fees |
5,940.89 | 5,940.89 | ||||||||||||||||||||||
Tax Return Preparation |
||||||||||||||||||||||||
Check |
1/25/2010 | 5071 | Perry Smith LLP | Interim Fee | Operating Ac | 3,140.40 | 3,140.40 | 3,140.40 | ||||||||||||||||
Total Tax Return Preparation |
3,140.40 | 3,140.40 | ||||||||||||||||||||||
Total Professional Fees |
9,081.29 | 9,081.29 | ||||||||||||||||||||||
Public Disclosure Issuance Cost |
||||||||||||||||||||||||
Check |
1/25/2010 | 5077 | Bowne of Los Ang | December S | Operating Ac | 8,875.00 | 8,875.00 | 8,875.00 | ||||||||||||||||
Check |
1/30/2010 | 5080 | Bowne of Los Ang | January Ser | Operating Ac | 1,875.00 | 1,875.00 | 10,750.00 | ||||||||||||||||
Check |
1/31/2010 | 5082 | Bowne of Los Ang | January Ser | Operating Ac | 2,185.00 | 2,185.00 | 12,935.00 | ||||||||||||||||
Total Public Disclosure Issuance Cost |
12,935.00 | 12,935.00 | ||||||||||||||||||||||
Rent Expense |
||||||||||||||||||||||||
Check |
1/8/2010 | 5068 | Bear Creek Plaza | January 2010 | Operating Ac | 1,280.00 | 1,280.00 | 1,280.00 | ||||||||||||||||
Total Rent Expense |
1,280.00 | 1,280.00 | ||||||||||||||||||||||
Shareholder Registration & Main |
||||||||||||||||||||||||
Check |
1/25/2010 | 5075 | Computershare | November S | Operating Ac | 6,686.34 | 6,686.34 | 6,686.34 | ||||||||||||||||
Check |
1/30/2010 | 5079 | Computershare | December S | Operating Ac | 2,614.18 | 2,614.18 | 9,300.52 | ||||||||||||||||
Total Shareholder Registration & Main |
9,300.52 | 9,300.52 | ||||||||||||||||||||||
Telephone Expense |
||||||||||||||||||||||||
Check |
1/11/2010 | 5069 | David Heaberlin | Operating Ac | 47.56 | 47.56 | 47.56 | |||||||||||||||||
Check |
1/25/2010 | 5074 | AT Conference | December S | Operating Ac | 419.14 | 419.14 | 466.70 | ||||||||||||||||
Check |
1/30/2010 | 5078 | David Heaberlin | Operating Ac | 66.89 | 66.89 | 533.59 | |||||||||||||||||
Total Telephone Expense |
533.59 | 533.59 | ||||||||||||||||||||||
Travel Expense |
||||||||||||||||||||||||
Check |
1/11/2010 | 5069 | David Heaberlin | Operating Ac | 135.40 | 135.40 | 135.40 | |||||||||||||||||
Total Travel Expense |
135.40 | 135.40 | ||||||||||||||||||||||
U. S. Trustee Fees |
||||||||||||||||||||||||
Check |
1/25/2010 | 5072 | U. S. Trustee | Q4 2009 | Operating Ac | 1,625.00 | 1,625.00 | 1,625.00 | ||||||||||||||||
Total U. S. Trustee Fees |
1,625.00 | 1,625.00 | ||||||||||||||||||||||
VOID |
||||||||||||||||||||||||
Check |
1/8/2010 | 5066 | VOID | VOID: | X | Operating Ac | 0.00 | 0.00 | 0.00 | |||||||||||||||
Check |
1/8/2010 | 5067 | VOID | VOID: | X | Operating Ac | 0.00 | 0.00 | 0.00 | |||||||||||||||
Total VOID |
0.00 | 0.00 | ||||||||||||||||||||||
Total Expense |
73,359.54 | 73,359.54 | ||||||||||||||||||||||
Net Income |
-73,359.54 | -73,359.54 | ||||||||||||||||||||||
Invoice Report
|
 |
CAPITAL CORP OF THE WEST (2606900)
|
Invoice #: 3104738 | |
2801 G ST
|
Payroll Date: 01/8/2010 | |
MERCED, CA95340-2133
|
Payroll #: 1 | |
Payroll Contact: DAVID A HEABERLIN
|
Payroll Type: REGULAR - 1 | |
Report Date: 1/4/2010
|
Period: 01/2/2010 through 01/8/2010 |
Billing Groups:
| No. | Name | No. EEs | Service Fee % | Payroll Gross | Total Cost | |||||||||||||||
| 0 | UNASSIGNED |
1 | 17.84 | $ | 8,000.00 | $ | 9,427.48 | |||||||||||||
| Total Summary: | 1 | $ | 8,000.00 | $ | 9,427.48 | |||||||||||||||
| Total additional charges or credits: | $ | 0.00 | ||||||||||||||||||
| Payroll amount due from client: | $ | 9,427.48 | ||||||||||||||||||
| TOTAL amount due from client: | $ | 9,427.48 | ||||||||||||||||||
| Check # | Check # | |||||||||||||||||||||||||||||||||||
| Employees | Status | Non DD | DD | Prev/Curr | W/C Code | W/C State | Benefits | Service Fee | Payroll Gross | |||||||||||||||||||||||||||
HEABERLIN, DAVID |
DD/EP | 0 | 0/0 | 8810C | CA | S | 17.84 | % | $ | 8,000.00 | ||||||||||||||||||||||||||
| Direct Deposit Gross Pay: |
$ | 8,000.00 | ||||||||||||||||||||||||||||||||||
| Check Gross Pay: |
$ | 0.00 | ||||||||||||||||||||||||||||||||||
Non DD
|
NonDirect Deposit | E | Employee Coverage | |||
DD
|
Direct Deposit | S | Employee & Spouse Coverage | |||
D
|
Dental Only | C | Employee & Child Coverage | |||
NH
|
New Hire | F | Employee & Family Coverage | |||
EP
|
EPaystub | K | Employee & Children Coverage | |||
C
|
W/C Cap | W | Coverage Waived | |||
| I | Coverage Not Available |
Schedule J — Question 4 (a)
Payroll Date — January 8, 2010
Payroll Date — January 8, 2010
| Invoice Report | |
CAPITAL CORP OF THE WEST (2606900)
|
Invoice #: 3107835 | |
2801 G ST
|
Payroll Date: 01/15/2010 | |
MERCED, CA95340-2133
|
Payroll #: 1 | |
Payroll Contact: DAVID A HEABERLIN
|
Payroll Type: REGULAR - 1 | |
Report Date: 1/8/2010
|
Period: 01/9/2010 through 01/15/2010 |
Billing Groups:
| No. | Name | No. EEs | Service Fee % | Payroll Gross | Total Cost | |||||||||||||||
0 |
UNASSIGNED | 1 | 11.72 | $ | 8,000.00 | $ | 8,937.48 | |||||||||||||
| Total Summary: | 1 | $ | 8,000.00 | $ | 8,937.48 | |||||||||||||||
| Total additional charges or credits: | $ | 0.00 | ||||||||||||||||||
| Payroll amount due from client: | $ | 8,937.48 | ||||||||||||||||||
| TOTAL amount due from client: | $ | 8,937.48 | ||||||||||||||||||
| Check # | Check # | ||||||||||||||||||||||||||||||||||
| Employees | Status | Non DD | DD | Prev/Curr | W/C Code | W/C State | Benefits | Service Fee | Payroll Gross | ||||||||||||||||||||||||||
HEABERLIN, DAVID |
DD/EP | 0 | 0/0 | 8810C | CA | S | 11.72 | % | $ | 8,000.00 | |||||||||||||||||||||||||
| Direct Deposit Gross Pay: | $ | 8,000.00 | |||||||||||||||||||||||||||||||||
| Check Gross Pay: | $ | 0.00 | |||||||||||||||||||||||||||||||||
Non DD
|
NonDirect Deposit | E | Employee Coverage | |||
DD
|
Direct Deposit | S | Employee & Spouse Coverage | |||
D
|
Dental Only | C | Employee & Child Coverage | |||
NH
|
New Hire | F | Employee & Family Coverage | |||
EP
|
EPaystub | K | Employee & Children Coverage | |||
C
|
W/C Cap | W | Coverage Waived | |||
| I | Coverage Not Available |
Schedule J — Question 4 (a)
Payroll Date — January 15, 2010
| Invoice Report | |
CAPITAL CORP OF THE WEST (2606900)
|
Invoice #: 3113897 | |
2801 G ST
|
Payroll Date: 01/22/2010 | |
MERCED, CA95340-2133
|
Payroll #: 1 | |
Payroll Contact: DAVID A HEABERLIN
|
Payroll Type: REGULAR - 1 | |
Report Date: 1/15/2010
|
Period: 01/16/2010 through 01/22/2010 |
Billing Groups:
| No. | Name | No. EEs | Service Fee % | Payroll Gross | Total Cost | |||||||||||||||
0 |
UNASSIGNED | 1 | 11.72 | $ | 8,000.00 | $ | 8,937.48 | |||||||||||||
| Total Summary: | 1 | $ | 8,000.00 | $ | 8,937.48 | |||||||||||||||
| Total additional charges or credits: | $ | 0.00 | ||||||||||||||||||
| Payroll amount due from client: | $ | 8,937.48 | ||||||||||||||||||
| TOTAL amount due from client: | $ | 8,937.48 | ||||||||||||||||||
| Check # | Check # | ||||||||||||||||||||||||||||||||||
| Employees | Status | Non DD | DD | Prev/Curr | W/C Code | W/C State | Benefits | Service Fee | Payroll Gross | ||||||||||||||||||||||||||
HEABERLIN, DAVID |
DD/EP | 0 | 0/0 | 8810C | CA | S | 11.72 | % | $ | 8,000.00 | |||||||||||||||||||||||||
| Direct Deposit Gross Pay: | $ | 8,000.00 | |||||||||||||||||||||||||||||||||
| Check Gross Pay: | $ | 0.00 | |||||||||||||||||||||||||||||||||
Non DD
|
NonDirect Deposit | E | Employee Coverage | |||
DD
|
Direct Deposit | S | Employee & Spouse Coverage | |||
D
|
Dental Only | C | Employee & Child Coverage | |||
NH
|
New Hire | F | Employee & Family Coverage | |||
EP
|
EPaystub | K | Employee & Children Coverage | |||
C
|
W/C Cap | W | Coverage Waived | |||
| I | Coverage Not Available |
Schedule J — Question 4 (a)
Payroll Date — January 22, 2010
| Invoice Report | |
CAPITAL CORP OF THE WEST (2606900)
|
Invoice #: 3117671 | |
2801 G ST
|
Payroll Date: 01/29/2010 | |
MERCED, CA95340-2133
|
Payroll #: 1 | |
Payroll Contact: DAVID A HEABERLIN
|
Payroll Type: REGULAR - 1 | |
Report Date: 1/22/2010
|
Period: 01/23/2010 through 01/29/2010 |
Billing Groups:
| No. | Name | No. EEs | Service Fee % | Payroll Gross | Total Cost | |||||||||||||||
0 |
UNASSIGNED | 1 | 11.72 | $ | 8,000.00 | $ | 8,937.48 | |||||||||||||
| Total Summary: | 1 | $ | 8,000.00 | $ | 8,937.48 | |||||||||||||||
| Total additional charges or credits: | $ | 0.00 | ||||||||||||||||||
| Payroll amount due from client: | $ | 8,937.48 | ||||||||||||||||||
| TOTAL amount due from client: | $ | 8,937.48 | ||||||||||||||||||
| Check # | Check # | ||||||||||||||||||||||||||||||||||
| Employees | Status | Non DD | DD | Prev/Curr | W/C Code | W/C State | Benefits | Service Fee | Payroll Gross | ||||||||||||||||||||||||||
HEABERLIN, DAVID |
DD/EP | 0 | 0/0 | 8810C | CA | S | 11.72 | % | $ | 8,000.00 | |||||||||||||||||||||||||
| Direct Deposit Gross Pay: | $ | 8,000.00 | |||||||||||||||||||||||||||||||||
| Check Gross Pay: | $ | 0.00 | |||||||||||||||||||||||||||||||||
Non DD
|
NonDirect Deposit | E | Employee Coverage | |||
DD
|
Direct Deposit | S | Employee & Spouse Coverage | |||
D
|
Dental Only | C | Employee & Child Coverage | |||
NH
|
New Hire | F | Employee & Family Coverage | |||
EP
|
EPaystub | K | Employee & Children Coverage | |||
C
|
W/C Cap | W | Coverage Waived | |||
| I | Coverage Not Available |
Schedule J — Question 4 (a)
Payroll Date — January 29, 2010
Capital Corp of the West
Balance Sheet
As of January 31, 2010
Balance Sheet
As of January 31, 2010
Cash Basis
| Jan 31, 10 | Dec 31, 09 | $ Change | ||||||||||
ASSETS |
||||||||||||
Current Assets |
||||||||||||
Checking/Savings |
||||||||||||
Citibank -Debtor in Possession |
||||||||||||
CA State Tax Refund Acct |
30,800.00 | 30,800.00 | 0.00 | |||||||||
Federal Tax Refund Acct |
8,900,454.00 | 8,900,454.00 | 0.00 | |||||||||
Insurance Refund Acct |
375,239.51 | 375,239.51 | 0.00 | |||||||||
Opearting Account |
6,178,007.39 | 6,251,366.93 | -73,359.54 | |||||||||
Total Citibank -Debtor In Possession |
15,484,500.90 | 15,557,860.44 | -73,359.54 | |||||||||
Total Checking/Savings |
15,484,500.90 | 15,557,860.44 | -73,359.54 | |||||||||
Total Current Assets |
15,484,500.90 | 15,557,860.44 | -73,359.54 | |||||||||
Fixed Assets |
||||||||||||
Furniture and Equipment |
||||||||||||
Computers |
4,299.75 | 4,299.75 | 0.00 | |||||||||
Furniture |
1,662.38 | 1,662.38 | 0.00 | |||||||||
Total Furniture and Equipment |
5,962.13 | 5,962.13 | 0.00 | |||||||||
Total Fixed Assets |
5,962.13 | 5,962.13 | 0.00 | |||||||||
TOTAL ASSETS |
||||||||||||
LIABILITIES & EQUITY |
15,490,463.03 | 15,563,822.57 | -73,359.54 | |||||||||
Liabilities |
||||||||||||
Current Liabilities |
||||||||||||
Other Current Liabilities |
||||||||||||
Priority Claims |
||||||||||||
Deferred Compensation |
3,500.00 | 3,500.00 | 0.00 | |||||||||
Total Priority Claims |
3,500.00 | 3,500.00 | 0.00 | |||||||||
Undisputed Claims Received |
||||||||||||
Bay View — Deferred Purchase |
||||||||||||
Deferred Puchase Price |
1,373,139.48 | 1,373,139.48 | 0.00 | |||||||||
Interest on Deferral |
130,880.88 | 130,880.88 | 0.00 | |||||||||
Total Bay
View — Deferred Purchase |
1,504,020.36 | 1,504,020.36 | 0.00 | |||||||||
Compensation Related Claims |
1,879,853.00 | 1,879,853.00 | 0.00 | |||||||||
County Staturtory Trust I |
||||||||||||
Interest |
751,608.00 | 751,608.00 | 0.00 | |||||||||
Principal |
6,186,000.00 | 6,186,000.00 | 0.00 | |||||||||
Total County Staturtory
Trust I |
6,937,608.00 | 6,937,608.00 | 0.00 | |||||||||
County Statutory Trust II |
||||||||||||
Interest |
537,166.00 | 537,166.00 | 0.00 | |||||||||
Principal |
10,310,000.00 | 10,310,000.00 | 0.00 | |||||||||
Total County Statutory Trust II |
10,847,166.00 | 10,847,166.00 | 0.00 | |||||||||
County Statutory Trust III |
||||||||||||
Interest |
744,779.00 | 744,779.00 | 0.00 | |||||||||
Principal |
15,464,000.00 | 15,464,000.00 | 0.00 | |||||||||
Total County Statutory
Trust III |
16,208,779.00 | 16,208,779.00 | 0.00 | |||||||||
County Statutory Trust IV |
||||||||||||
Interest |
1,752,346.00 | 1,752,346.00 | 0.00 | |||||||||
Principal |
25,774,000.00 | 25,774,000.00 | 0.00 | |||||||||
Total County Statutory
Trust IV |
27,526,346.00 | 27,526,346.00 | 0.00 | |||||||||
Creditor Claims |
19,167.00 | 19,167.00 | 0.00 | |||||||||
Total Undisputed Claims
Received |
64,922,939.36 | 64,922,939.36 | 0.00 | |||||||||
Total Other Current Liabilities |
64,926,439.36 | 64,926,439.36 | 0.00 | |||||||||
Total Current Liabilities |
64,926,439.36 | 64,926,439.36 | 0.00 | |||||||||
Total Liabilities |
64,926,439.36 | 64,926,439.36 | 0.00 | |||||||||
Equity |
||||||||||||
Opening Balance Equity |
-64,926,439.36 | -64,926,439.36 | 0.00 | |||||||||
Retained Earnings |
15,563,822.57 | 0.00 | 15,563,822.57 | |||||||||
Net Income |
-73,359.54 | 15,563,822.57 | -15,637,182.11 | |||||||||
Total Equity |
-49,435,976.33 | -49,362,616.79 | -73,359.54 | |||||||||
TOTAL LIABILITIES & EQUITY |
15,490,463.03 | 15,563,822.57 | -73,359.54 | |||||||||
Capital Corp of the West
Reconciliation Detail
Opearting Account, Period Ending 01/31/2010
Reconciliation Detail
Opearting Account, Period Ending 01/31/2010
| Type | Date | Num | Name | Clr | Amount | Balance | ||||||||||||||
| Beginning Balance | 6,253,166.93 | |||||||||||||||||||
Cleared Transactions |
||||||||||||||||||||
Checks and Payments — 12 items |
||||||||||||||||||||
Check |
12/16/2009 | 5063 | Curtis Riggs | X | -600.00 | -600.00 | ||||||||||||||
Check |
12/16/2009 | 5061 | John Fawcett | X | -600.00 | -1,200.00 | ||||||||||||||
Check |
12/16/2009 | 5060 | David X. Bonnar | X | -600.00 | -1,800.00 | ||||||||||||||
Check |
1/4/2010 | 0000 | Administaff | X | -9,427.48 | -11,227.48 | ||||||||||||||
Check |
1/8/2010 | 5068 | Bear Creek Plaza | X | -1,280.00 | -12,507.48 | ||||||||||||||
Check |
1/11/2010 | 0000 | Administaff | X | -8,937.48 | -21,444.96 | ||||||||||||||
Check |
1/11/2010 | 5069 | David Heaberlin | X | -1,295.50 | -22,740.46 | ||||||||||||||
Check |
1/18/2010 | 5070 | Klein, Denateli, Gol | X | -2,853.50 | -25,593.96 | ||||||||||||||
Check |
1/20/2010 | 0000 | Administaff | X | -8,937.48 | -34,531.44 | ||||||||||||||
Check |
1/22/2010 | 0000 | Administaff | X | -8,937.48 | -43,468.92 | ||||||||||||||
Check |
1/25/2010 | 5077 | Bowne of Los Angel | X | -8,875.00 | -52,343.92 | ||||||||||||||
Check |
1/25/2010 | 5073 | Klein, Denateli, Gol | X | -3,087.39 | -55,431.31 | ||||||||||||||
Total Checks and Payments |
-55,431.31 | -55,431.31 | ||||||||||||||||||
Deposits and Credits — 2 items |
||||||||||||||||||||
Check |
1/8/2010 | 5066 | VOID | X | 0.00 | 0.00 | ||||||||||||||
Check |
1/8/2010 | 5067 | VOID | X | 0.00 | 0.00 | ||||||||||||||
Total Deposits and Credits |
0.00 | 0.00 | ||||||||||||||||||
Total Cleared Transactions |
-55,431.31 | -55,431.31 | ||||||||||||||||||
| Cleared Balance | -55,431.31 | 6,197,735.62 | ||||||||||||||||||
Uncleared Transactions |
||||||||||||||||||||
Checks and Payments — 10 items |
||||||||||||||||||||
Check |
1/25/2010 | 5075 | Computershare | -6,686.34 | -6,686.34 | |||||||||||||||
Check |
1/25/2010 | 5071 | Perry Smith LLP | -3,140.40 | -9,826.74 | |||||||||||||||
Check |
1/25/2010 | 5072 | U. S. Trustee | -1,625.00 | -11,451.74 | |||||||||||||||
Check |
1/25/2010 | 5074 | AT Conference | -419.14 | -11,870.88 | |||||||||||||||
Check |
1/25/2010 | 5076 | Comcast | -310.87 | -12,181.75 | |||||||||||||||
Check |
1/30/2010 | 5079 | Computershare | -2,614.18 | -14,795.93 | |||||||||||||||
Check |
1/30/2010 | 5080 | Bowne of Los Angel | -1,875.00 | -16,670.93 | |||||||||||||||
Check |
1/30/2010 | 5078 | David Heaberlin | -562.65 | -17,233.58 | |||||||||||||||
Check |
1/31/2010 | 5082 | Bowne of Los Angel | -2,185.00 | -19,418.58 | |||||||||||||||
Check |
1/31/2010 | 5081 | Comcast | -309.65 | -19,728.23 | |||||||||||||||
Total Checks and Payments |
-19,728.23 | -19,728.23 | ||||||||||||||||||
Total Uncleared Transactions |
-19,728.23 | -19,728.23 | ||||||||||||||||||
| Register Balance as of 01/31/2010 | -75,159.54 | 6,178,007.39 | ||||||||||||||||||
New Transactions |
||||||||||||||||||||
Checks and Payments — 1 item |
||||||||||||||||||||
Check |
2/1/2010 | 0000 | Administaff | -8,937.48 | -8,937.48 | |||||||||||||||
Total Checks and Payments |
-8,937.48 | -8,937.48 | ||||||||||||||||||
Total New Transactions |
-8,937.48 | -8,937.48 | ||||||||||||||||||
| Ending Balance | -84,097.02 | 6,169,069.91 | ||||||||||||||||||
DIP Operating Account
January 2010 Reconciliation
January 2010 Reconciliation
Citibank Client Services 587
|
000001/R1/20F000/0 | |||
PO Box 769013
|
008 | |||
San Antonio, TX 78245-9013
|
CITIBANK, N. A. | |||
| Account | ||||
| 9951707360 | ||||
DIP-CAPITAL CORP OF THE WEST-DIP |
||||
OPERATING ACCOUNT
|
Statement Period | |||
C/O DAVID HEABERLIN
|
Jan. 1 - Jan. 31, 2010 | |||
2801 G STREET |
||||
MERCED
CA 95340 |
||||
| Page 1 of 2 | ||||
CitiBusiness® ACCOUNT AS OF JANUARY 31, 2010
Relationship Summary: |
||||
Checking
|
$ | 15,504,229.13 | ||
Savings
|
— | |||
Investments (not FDIC insured) |
— | |||
Checking Plus
|
— | |||
Get up to $200 when you sign up for Merchant Services. Open a new account with Citi Merchant
Services Provided by First Data Merchant Services Corp. and take advantage of this limited time
credit offer. Call 1-800-592-2398 for more details.
| Checking | Balance | |||
CitiBusiness Checking 9951707360 |
$ | 6,197,735.62 | ||
CitiBusiness Checking 9951707424 |
$ | 375,239.51 | ||
CitiBusiness Checking 9958952078 |
$ | 8,900,454.00 | ||
CitiBusiness Checking 9958960828 |
$ | 30,800.00 | ||
Total Checking at Citibank |
$ | 15,504,229.13 | ||
CHECKING ACTIVITY
| CitiBusiness Checking | ||||||||
| 9951707360 | Beginning Balance:
|
$ | 6,253,166.93 | |||||
Ending Balance:
|
$ | 6,197,735.62 | ||||||
| Date | Description | Debits | Credits | Balance | ||||||||||||
| 1/04 | CBUSOL TRANSFER DEBIT |
9,427.48 | 6,243,739.45 | |||||||||||||
WIRE TO Administaff Companes, Inc. |
||||||||||||||||
| 1/04 | CHECK NO: 5060 |
600.00 | 6,243,139.45 | |||||||||||||
| 1/04 | CHECK NO: 5063 |
600.00 | 6,242,539.45 | |||||||||||||
| 1/06 | CHECK NO: 5061 |
600.00 | 6,241,939.45 | |||||||||||||
| 1/11 | CBUSOL TRANSFER DEBIT |
8,937.48 | 6,233,001.97 | |||||||||||||
WIRE TO Administaff Companes, Inc. |
||||||||||||||||
| 1/13 | CHECK NO: 5069 |
1,295.50 | 6,231,706.47 | |||||||||||||
| 1/14 | CHECK NO: 5068 |
1,280.00 | 6,230,426.47 | |||||||||||||
| 1/20 | CBUSOL TRANSFER DEBIT |
8,937.48 | 6,221,488.99 | |||||||||||||
WIRE TO Administaff Companes, Inc. |
||||||||||||||||
| 1/21 | CHECK NO: 5070 |
2,853.50 | 6,218,635.49 | |||||||||||||
| 1/22 | CBUSOL TRANSFER DEBIT |
8,937.48 | 6,209,698.01 | |||||||||||||
WIRE TO Administaff Companes, Inc. |
||||||||||||||||
| 1/29 | CHECK NO: 5077 |
8,875.00 | 6,200,823.01 | |||||||||||||
| 1/29 | CHECK NO: 5073 |
3,087.39 | 6,197,735.62 | |||||||||||||
Total Debits/Credits |
55,431.31 | 0.00 | ||||||||||||||
| Checks Paid | ||||||||||||||||||||||||||||||||||||||||||||
| Check | Date | Amount | Check | Date | Amount | Check | Date | Amount | Check | Date | Amount | |||||||||||||||||||||||||||||||||
5060 |
1/04 | 600.00 | 5063 | * | 1/04 | 600.00 | 5069 | 1/13 | 1,295.50 | 5073 | * | 1/29 | 3,087.39 | |||||||||||||||||||||||||||||||
5061 |
1/06 | 600.00 | 5068 | * | 1/14 | 1,280.00 | 5070 | 1/21 | 2,853.50 | 5077 | * | 1/29 | 8,875.00 | |||||||||||||||||||||||||||||||
| * | Indicates gap in check number sequence Number Checks Paid: 8 Totaling: $19,191.39 |
DIP-CAPITAL CORP OF THE WEST-DIP
|
Account 9951707360 Page 2 of 2 | 000002/R1/20F000/0 | ||
OPERATING ACCOUNT
|
Statement Period — Jan. 1 – Jan. 31, 2010 |
| CHECKING ACTIVITY | Continued |
CitiBusiness Checking |
||||||
9951707424
|
Beginning Balance: | $ | 375,239.51 | |||
| Ending Balance: | $ | 375,239.51 | ||||
CitiBusiness Checking |
||||||
9958952078
|
Beginning Balance: | $ | 8,900,454.00 | |||
| Ending Balance: | $ | 8,900,454.00 | ||||
CitiBusiness Checking |
||||||
9958960828
|
Beginning Balance: | $ | 30,800.00 | |||
| Ending Balance: | $ | 30,800.00 | ||||
CUSTOMER SERVICE INFORMATION
IF YOU HAVE QUESTIONS ON:
|
YOU CAN CALL: | YOU CAN WRITE: | ||
Checking
|
877-528-0990 | CitiBusiness | ||
| (For Speech and Hearing | 100 Citibank Drive | |||
| Impaired Customers Only | San Antonio, TX 78245-9966 | |||
| TDD: 800-945-0258) |
For change in address, call your account officer or visit your branch.