Message-ID: <30573817.1075854359385.JavaMail.evans@thyme> Date: Fri, 27 Apr 2001 03:08:00 -0700 (PDT) From: rachel.crowell@enron.com To: elizabeth.shim@enron.com, darron.giron@enron.com Subject: Management West Variances Mime-Version: 1.0 Content-Type: text/plain; charset=ANSI_X3.4-1968 Content-Transfer-Encoding: quoted-printable X-From: Rachel Crowell X-To: Elizabeth Shim, Darron C Giron X-cc: X-bcc: X-Folder: \Darron_Giron_Jun2001\Notes Folders\All documents X-Origin: Giron-D X-FileName: dgiron.nsf 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;