. >> and galati will crpt on this item. >> directors this is required by the california government code as well as the investment policy be reviewed annually even if we are not proposing any changes. we are not proposing any changes at this time. objectivities of our investment policy remain the same, safety, liquidity and return on investment has a much lower priority. we currently keep most of our cash in a u.s. bank checking akoupt. we obviously do not keep a high cash balance it goes in from the funders and goes out to the contractors. and we do have a trustee account with deucshbank. most of which will be in trescy notes that will come to end of the year. and we will look at investment options at that time. but looking at the economic out look and what we think that interest rates may do in the future as well as cash flow needs we probably will choose investments with short maturities so we can month forward. i am happy to answer any questions. >> any questions? >> seeing none, thank you. >> is there any public comment on this item? >> none that i am aware of. >> okay. >> do you ha