-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J+6N849nGrYziF7RHQAwhuiCwZBHaeTr072i6kJrAYKq3yY8pqY2qOtEwI3WHgUl /GACtWAhquJ249XdYCSP8g== 0000082811-96-000018.txt : 19960701 0000082811-96-000018.hdr.sgml : 19960701 ACCESSION NUMBER: 0000082811-96-000018 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19951231 FILED AS OF DATE: 19960628 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: REGAL BELOIT CORP CENTRAL INDEX KEY: 0000082811 STANDARD INDUSTRIAL CLASSIFICATION: GENERAL INDUSTRIAL MACHINERY & EQUIPMENT [3560] IRS NUMBER: 390875718 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07283 FILM NUMBER: 96587571 BUSINESS ADDRESS: STREET 1: 200 STATE ST CITY: BELOIT STATE: WI ZIP: 53511 BUSINESS PHONE: 6083648800 MAIL ADDRESS: STREET 1: 200 STATE STREET CITY: BELOIT STATE: WI ZIP: 53511-6254 FORMER COMPANY: FORMER CONFORMED NAME: BELOIT TOOL CORP DATE OF NAME CHANGE: 19730522 FORMER COMPANY: FORMER CONFORMED NAME: RECORD A PUNCH CORP DATE OF NAME CHANGE: 19690320 11-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 11-K FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [X] ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 1995 [ ] TRANSACTION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission file number 1-7283 A. Full title of the plan and the address of the plan, if different from that of the issuer named below: REGAL-BELOIT CORPORATION B. Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office: REGAL-BELOIT CORPORATION 200 STATE STREET BELOIT, WI 53511 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Plan Administrator had duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized. REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN Robert C. Burress By ----------------------------------------- Robert C. Burress Vice President, CFO and Secretary Date: June 28, 1996 REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN FINANCIAL STATEMENTS AS OF DECEMBER 31, 1995 AND 1994 TOGETHER WITH REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN FINANCIAL STATEMENTS DECEMBER 31, 1995 AND 1994 TABLE OF CONTENTS REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS FINANCIAL STATEMENTS Statements of Net Assets Available for Plan Benefits December 31, 1995 and 1994 Statements of Changes in Net Assets Available for Plan Benefits for the Years Ended December 31, 1995 and 1994 NOTES TO FINANCIAL STATEMENTS SCHEDULES SUPPORTING FINANCIAL STATEMENTS Schedule I Item 27a--Schedule of Assets Held for Investment Purposes December 31, 1995 Schedule II Item 27d--Schedule of Reportable Transactions for the Year Ended December 31, 1995 REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS To the Plan Administrator of the Regal-Beloit Corporation Personal Savings Plan: We have audited the accompanying statements of net assets available for plan benefits, with fund information, of Regal-Beloit Corporation Personal Savings Plan (the "Plan") as of December 31, 1995 and 1994, and the related statements of changes in net assets available for plan benefits, with fund information, for the years then ended. These financial statements and the schedules referred to in the accompanying index are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements and schedules based on our audits. We conducted our audits in accordance with generally accepted auditing standards. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits, with fund information, of the Plan as of December 31, 1995 and 1994, and the changes in its net assets available for plan benefits, with fund information, for the years then ended in conformity with generally accepted accounting principles. Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedules referred to in the accompanying index are presented for the purpose of additional analysis and are not a required part of the basic financial statements, but are supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The fund information in the statement of net assets available for plan benefits and the statement of changes in net assets available for plan benefits is presented for purposes of additional analysis rather than to present the net assets available for plan benefits and changes in net assets available for plan benefits of each fund. The supplemental schedules and fund information have been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, are fairly stated in all material respects in relation to the basic financial statements taken as a whole. ARTHUR ANDERSEN LLP --------------------------------------------- ARTHUR ANDERSEN LLP Milwaukee, Wisconsin, May 30, 1996. REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1995 AND 1994 (1) Description of the Plan- The Regal-Beloit Corporation Personal Savings Plan (the "Plan") is a defined contribution plan established on July 1, 1988, to allow eligible employees to defer compensation as permitted under Section 401(k) of the Internal Revenue Code. The Plan covers substantially all employees of Regal-Beloit Corporation (the "Company") with at least six months of service with the Company and who are not covered under separate plans. The Plan is subject to the U.S. Employee Retirement Income Security Act of 1974 ("ERISA"). Participants of the Plan may direct their contributions into the following funds with Marshall & Ilsley Trust Company (the "Trustee"): (a) Fixed Income Fund- Amounts allocated to the Fixed Income Fund are invested in a mutual fund with securities and obligations which produce a fixed rate of investment return, including but not limited to, United States government securities, corporate bonds, notes, debentures or any fixed income trust fund or funds maintained by the Trustee or its affiliates or other banks, or any contracts issued by insurance companies or other financial institutions. (b) Equity Fund- Amounts allocated to the Equity Fund are invested in a mutual fund with equity type securities, without regard to whether such investments pay dividends or other forms of return, including but not limited to, common stock or other securities or obligations convertible or exercisable into equity securities or any mutual fund or equity common trust fund or funds maintained by the Trustee or its affiliate or other banks. (c) Company Stock Fund- Amounts allocated to the Company Stock Fund are invested in Regal-Beloit Corporation common stock. Investments in, sales of, and reinvestment in Company Stock shall be made on the open market, from the Company or its affiliates or in negotiated transactions with independent parties pursuant to the direction of the Plan Administrator. (d) Bond Fund- This fund invests in a mutual fund which holds Government and Corporate bonds to generate a high level of current income while minimizing market volatility. (e) Balanced Fund- Effective April 1994, this fund was made available for participant's election. Amounts allocated to the Balanced Fund seek income, consistent with preservation of capital. The Fund invests in a mutual fund with a diversified portfolio of high yielding securities, including common and preferred stocks, and bonds. At least 25% of its assets will always be invested in fixed income securities. (f) Opportunity Fund- Effective April 1994, this fund was made available for participant's election. Amounts allocated to the Opportunity Fund are invested in a mutual fund which seeks to provide capital appreciation by investing in growth and aggressive growth stocks. At least 70% of the fund's assets will always be invested in the common stocks of growth companies, generally described as small to mid- size. Investments in the Equity Fund, Fixed Income Fund, Balanced Fund and Opportunity Fund are effected in the open market or through collective investment funds of the Trustee. (g) Loan Fund- This fund permits a participant to borrow from their individual account an amount limited to 50% of their account balance to a maximum of $50,000. Interest at prevailing market rates (ranging from 8% to 11% as of December 31, 1995) is charged on the loan, but is credited as income to the individual participant's account. Only one loan is allowed at any one time, and the maximum term is five years, unless the loan is used for the acquisition of the participant's primary residence, for which the term of the loan may be extended beyond the five year period. Participants at all times have a fully vested interest in their individual and Company contribution accounts. Distributions of participants' accounts can be made in lump-sum amounts upon normal retirement from the Company, upon the death of the participant and upon termination of employment. Withdrawals for financial hardship can be made in accordance with certain governmental regulations. Earnings on the investments of the Trust are allocated to the participants' accounts based on the proportion of the participant's account to the total of all participants' accounts in each particular investment fund as of the quarterly valuation dates of March 31, June 30, October 31 and December 31. The Company may terminate the Plan at any time. In the event of termination, or complete discontinuance of contributions, the rights of all participants to their accounts shall become fully vested and nonforfeitable. Distribution upon termination or complete discontinuance of contributions will be made in a manner selected by the Trustee. Presently, the Company has no intention to terminate the Plan. (2) Significant Accounting Policies- Basis of accounting- The financial statements have been prepared on the accrual basis of accounting. Use of accounting estimates- The preparation of financial statements in conformity with generally accepted accounting principles requires the Plan's management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. (3) Funding Policy- The Plan provides for discretionary Company contributions subject to the Board of Director's authorization to be allocated to the individual participant's account based on the proportion of a participant's compensation to the total compensation of all participants. In October 1995 and 1994, the Company's Board of Directors approved an incentive contribution of $100 to each employee participating or enrolled to participate in the Plan as of December 31, 1995 and 1994, respectively. These contributions were to encourage employees pre- tax retirement savings. All other contributions have been made on a voluntary basis by employees. Participants who contribute may elect to have their contributions invested in increments of 10% among any combination of the Fixed Income Fund, the Equity Fund, the Balanced Fund, the Opportunity Fund, the Company Stock Fund or the Bond Fund. This election can be changed on any January 1, April 1, July 1 or October 1. (4) Investments- Investments are stated at fair market value as determined by the Trustee by reference to published market data. The fair market value of individual investments that represent 5% or more of the Plan's total assets as of December 31, 1995 and 1994 are as follows: 1995 1994 ---------- ---------- Regal-Beloit Corporation Common Stock $4,890,792 $2,661,071 Marshall Stock Fund 1,379,462 968,784 M&I Employee Benefit Stable Principal Fund 3,819,912 3,315,416 Fidelity Balanced Fund 914,930 792,353 Strong Opportunity Fund 1,830,176 1,152,935 Net realized and unrealized appreciation (depreciation) is recorded in the accompanying statements of changes in net assets as net appreciation in fair market value of investments. (5) Income Tax Status- The Plan has received a favorable tax determination letter dated November 29, 1989, indicating that the Plan is a qualified plan under Sections 401(a) and 401(k) of the Internal Revenue Code and is exempt from Federal income taxes under Section 501(a) of the Code. Plan amendments adopted since the last tax determination letter will be included in the Plan's next filing (see footnote 7). In the opinion of the Company's management, the Plan, as currently amended, remains tax-exempt. (6) Related Party Transactions- (a) Cash and investments of the Plan are held in accounts of the Trustee. (b) The Plan invests in securities of the Company. (c) The Plan permits loans to participants. These transactions are not considered prohibitive transactions by statutory exemptions under the ERISA regulations. (7) Subsequent Events- Subsequent to December 31, 1995, the Plan obtained a new determination letter from the Internal Revenue Service dated April 12, 1996, approving the Plan as qualified for tax-exempt status. Consent of Independent Public Accountants As independent public accountants, we hereby consent to the incorporation of our report included in this Form 11-K into the previously filed Form S-8 Registration Statement of Regal-Beloit Corporation (File No. 1-7283). ARTHUR ANDERSEN LLP ------------------------------------------ ARTHUR ANDERSEN LLP Milwaukee, Wisconsin, June 24, 1996.
SCHEDULE I REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN ITEM 27a -- SCHEDULE OF ASSETS HELD FOR INVESTMENT PURPOSES DECEMBER 31, 1995 Number of Market Shares Description of Security Cost Value - --------- -------------------------------------------- ----------- ---------- 226,646 Regal-Beloit Corporation Common Stock(*) $ 2,633,764 $ 4,890,792 111,641 Marshall Stock Fund 1,180,873 1,379,462 3,819,912 M&I Employee Benefit Stable Principal Fund 3,819,912 3,819,912 59,152 Marshall Money Market Fund 59,152 59,152 60,151 Marshall Intermediate Bond Fund 612,471 611,098 67,100 Fidelity Balanced Fund 863,966 914,930 54,203 Strong Opportunity Fund 1,563,295 1,830,176 ----------- ----------- Total Investments 10,733,433 13,505,522 Loans to Participants (Interest Rates: 8% - 11%)(*) 0 530,254 ----------- ----------- Total Assets Held for Investment $10,733,433 $14,035,776 =========== ===========
(*) Represents a party-in-interest SCHEDULE II
REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN ITEM 27d -- SCHEDULE OF REPORTABLE TRANSACTIONS FOR THE YEAR ENDED DECEMBER 31, 1995 Identity of Party Number Number Net Involved/Description of Purchase of Selling Cost of Gain of Asset Purchases Price Sales Price Asset Sold (Loss) - -------------------------------------------- --------- ---------- ------- ---------- ---------- ------- Regal-Beloit Corporation Common Stock(*) 29 $ 698,995 9 $ 114,947 $ 81,926 $33,021 M&I Employee Benefit Stable Principal Fund 88 1,063,143 27 558,648 558,648 0 Marshall Money Market Fund 520 3,003,461 441 2,976,340 2,976,340 0 Strong Opportunity Fund 72 523,138 15 130,199 114,696 15,503
(*) Represents a party-in-interest
REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1994 Fund Information --------------------------------------------------------------------------------- Fixed Company Income Equity Stock Bond Balanced Opportunity Loan Combined Fund Fund Fund Fund Fund Fund Fund Plan Total ------------- ------------- ---------- ---------- ---------- ----------- -------- ------------- ADDITIONS TO NET ASSETS ATTRIBUTED TO: Employee contributions $ 557,375 $ 204,326 $ 342,230 $ 89,528 $ 114,682 $ 143,783 $ 0 $ 1,451,924 Employee rollovers 31,342 1,525 11,399 66 2,296 7,768 0 54,396 Employer contributions (Note 3) 43,720 10,120 24,225 5,995 7,000 13,640 0 104,700 Investment income- Interest and dividends 194,456 17,633 57,693 37,782 16,803 4,708 38,477 367,552 Net appreciation (depreciation)in fair market value of investments 0 (109,458) 56,480 (56,060) (26,883) 57,260 0 (78,661) ------------- ------------- ----------- --------- ---------- ----------- --------- ------------ Total additions 826,893 124,146 492,027 77,311 113,898 227,159 38,477 1,899,911 ------------- ------------- ----------- --------- ---------- ----------- --------- ------------ DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO: Administrative fees 28,700 13,524 6,866 4,296 2,015 2,466 0 57,867 Benefits paid to participants 249,757 118,817 87,218 18,798 17,231 60,470 23,693 575,984 ------------- ------------- ----------- --------- ---------- ----------- --------- ------------ Total deductions 278,457 132,341 94,084 23,094 19,246 62,936 23,693 633,851 ------------- ------------- ----------- --------- ---------- ----------- --------- ------------ TRANSFERS BETWEEN FUNDS (603,476) (802,001) 15,301 (391,580) 709,573 1,008,620 63,563 0 NET ASSETS AVAILABLE FOR PLAN BENEFITS: Beginning of year 3,434,566 1,789,723 2,323,034 813,764 0 0 484,808 8,845,895 ------------ ------------ ---------- --------- ---------- ----------- -------- ------------- End of year $ 3,379,526 $ 979,527 $2,736,278 $ 476,401 $ 804,225 $1,172,843 $563,155 $ 10,111,955 ============ ============ ========== ========= ========== =========== ======== =============
The accompanying notes are an integral part of this statement.
REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS FOR THE YEAR ENDED DECEMBER 31, 1995 Fund Information ---------------------------------------------------------------------------------- Fixed Company Income Equity Stock Bond Balanced Opportunity Loan Combined Fund Fund Fund Fund Fund Fund Fund Plan Total ------------ ------------ ---------- ---------- ---------- ------------ ---------- ----------- ADDITIONS TO NET ASSETS ATTRIBUTED TO: Employee contributions $ 645,378 $ 165,364 $ 493,157 $ 81,512 $ 147,293 $ 271,763 $ 0 $ 1,804,467 Employee rollovers 7,371 34,336 25,901 10,381 1,569 25,449 0 105,007 Employer contributions (Note 3) 41,610 11,180 29,865 6,000 7,195 17,350 0 113,200 Investment income- Interest and dividends 228,029 19,647 87,259 37,035 37,052 10,387 46,705 466,114 Net appreciation in fair market value of investments 0 321,903 1,729,938 42,080 78,792 345,657 0 2,518,370 ------------ ------------ ---------- ---------- ---------- ------------ ---------- ----------- Total additions 922,388 552,430 2,366,120 177,008 271,901 670,606 46,705 5,007,158 ------------ ------------ ---------- ---------- ---------- ------------ ---------- ----------- DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO: Administrative fees 29,350 13,992 11,306 4,377 3,388 5,920 0 68,333 Benefits paid to participants 343,922 120,147 185,056 20,768 43,136 34,141 45,408 792,578 ------------ ------------ ---------- ---------- ---------- ------------ ---------- ----------- Total deductions 373,272 134,139 196,362 25,145 46,524 40,061 45,408 860,911 ------------ ------------ ---------- ---------- ---------- ------------ ---------- ----------- TRANSFERS BETWEEN FUNDS (28,154) (5,093) 113,305 (4,794) (100,347) 55,890 (30,807) 0 NET ASSETS AVAILABLE FOR PLAN BENEFITS: Beginning of year 3,379,526 979,527 2,736,278 476,401 804,225 1,172,843 563,155 10,111,955 ------------ ------------ ---------- ---------- ---------- ------------ ---------- ----------- End of year $ 3,900,488 $ 1,392,725 $5,019,341 $ 623,470 $ 929,255 $1,859,278 $ 533,645 $14,258,202 ============ ============ ========== ========== ========== ============ ==========
The accompanying notes are an integral part of this statement.
REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS AS OF DECEMBER 31, 1994 Fund Information --------------------------------------------------------------------- Fixed Company Income Equity Stock Bond Balanced Opportunity Loan Combined Fund Fund Fund Fund Fund Fund Fund Plan Fund ---------- -------- ---------- -------- -------- ----------- -------- ----------- ASSETS - ----------------------------------------- CASH $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 366 $ 366 RECEIVABLES: Accrued interest and dividends 17,572 0 15,784 0 5 6 1,808 35,175 Employee contributions 8,541 3,215 7,995 3,342 4,114 5,458 0 32,665 Employer contributions (Note 3) 43,720 10,120 24,225 5,995 7,000 13,640 0 104,700 ---------- -------- ---------- -------- -------- ----------- -------- ----------- 69,833 13,335 48,004 9,337 11,119 19,104 1,808 172,540 INVESTMENTS AT FAIR VALUE (Cost of $8,857,777): Regal-Beloit Corporation Common Stock 0 0 2,661,071 0 0 0 0 2,661,071 Marshall Stock Fund 0 968,784 0 0 0 0 0 968,784 M&I Employee Benefit Stable Principal Fund 3,315,416 0 0 0 0 0 0 3,315,416 Marshall Money Market Fund 0 0 28,985 0 1,416 1,631 0 32,032 Marshall Intermediate Bond Fund 0 0 0 467,933 0 0 0 467,933 Fidelity Balanced Fund 0 0 0 0 792,353 0 0 792,353 Strong Opportunity Fund 0 0 0 0 0 1,152,935 0 1,152,935 ---------- -------- ---------- -------- -------- ----------- -------- ----------- 3,315,416 968,784 2,690,056 467,933 793,769 1,154,566 0 9,390,524 LOANS TO PARTICIPANTS 0 0 0 0 0 0 560,981 560,981 ---------- -------- ---------- -------- -------- ----------- -------- ----------- Total assets 3,385,249 982,119 2,738,060 477,270 804,888 1,173,670 563,155 10,124,411 LIABILITIES - ------------------------------------------ ACCRUED ADMINISTRATIVE FEES 5,723 2,592 1,782 869 663 827 0 12,456 ---------- -------- ---------- -------- -------- ----------- -------- ----------- NET ASSETS AVAILABLE FOR PLAN BENEFITS $3,379,526 $979,527 $2,736,278 $476,401 $804,225 $ 1,172,843 $563,155 $10,111,955 ========== ======== ========== ======== ======== =========== ======== ===========
The accompanying notes are an integral part of this statement.
REGAL-BELOIT CORPORATION PERSONAL SAVINGS PLAN STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS AS OF DECEMBER 31, 1995 Fund Information ----------------------------------------------------------------------- Fixed Company Income Equity Stock Bond Balanced Opportunity Loan Combined Fund Fund Fund Fund Fund Fund Fund Plan Total ---------- ---------- ---------- -------- -------- ----------- -------- ----------- ASSETS - ----------------------------------------- CASH $ 0 $ 0 $ 0 $ 0 $ 0 $ 0 $ 366 $ 366 RECEIVABLES: Accrued interest and dividends 19,950 1 22,672 3,270 4 19 3,025 48,941 Employee contributions 31,766 7,260 22,177 4,579 8,452 14,488 0 88,722 Employer contributions (Note 3) 41,610 11,180 29,865 6,000 7,195 17,350 0 113,200 ---------- ---------- ---------- -------- -------- ----------- -------- ----------- 93,326 18,441 74,714 13,849 15,651 31,857 3,025 250,863 INVESTMENTS AT FAIR VALUE (cost of $10,733,433): Regal-Beloit Corporation Common Stock 0 0 4,890,792 0 0 0 0 4,890,792 Marshall Stock Fund 0 1,379,462 0 0 0 0 0 1,379,462 M&I Employee Benefit Stable Principal Fund 3,819,912 0 0 0 0 0 0 3,819,912 Marshall Money Market Fund 0 0 59,147 0 5 0 0 59,152 Marshall Intermediate Bond Fund 0 0 0 611,098 0 0 0 611,098 Fidelity Balanced Fund 0 0 0 0 914,930 0 0 914,930 Strong Opportunity Fund 0 0 0 0 0 1,830,176 0 1,830,176 ---------- ---------- ---------- -------- -------- ----------- -------- ----------- 3,819,912 1,379,462 4,949,939 611,098 914,935 1,830,176 0 13,505,522 LOANS TO PARTICIPANTS 0 0 0 0 0 0 530,254 530,254 ---------- ---------- ---------- -------- -------- ----------- -------- ----------- Total assets 3,913,238 1,397,903 5,024,653 624,947 930,586 1,862,033 533,645 14,287,005 ---------- ---------- ---------- -------- -------- ----------- -------- ----------- LIABILITIES - ----------------------------------------- ACCRUED ADMINISTRATIVE FEES 12,750 5,178 5,312 1,477 1,331 2,755 0 28,803 ---------- ---------- ---------- -------- -------- ----------- -------- ----------- NET ASSETS AVAILABLE FOR PLAN BENEFITS $3,900,488 $1,392,725 $5,019,341 $623,470 $929,255 $ 1,859,278 $533,645 $14,258,202 ========== ========== ========== ======== ======== =========== ======== ===========
The accompanying notes are an integral part of this statement. -----END PRIVACY-ENHANCED MESSAGE-----