STATE OF NEVADA STATE TREASURY MONEY COUNT

Members of the Nevada State Board of Finance
Members of the Nevada State Legislature

In accordance with the provisions of NRS 353.060, we counted the money and securities in the State Treasury on Monday, June 30, 1997, and have prepared therefrom Exhibit A with supporting schedules 1 through 5.

Our count included actual physical examination, direct confirmation with financial institutions and other procedures we considered necessary to fulfill our statutory obligation.

Exhibit A, along with supporting schedules 1 through 5, presents the money and securities in the custody of the State Treasurer as of the close of business, Monday, June 30, 1997, in accordance with NRS 353.075.

Respectfully presented,

Wm. Gary Crews, CPA
Legislative Auditor

Filed with the Secretary
of State: October 24, 1997

STATE OF NEVADA STATE TREASURY MONEY COUNT COUNT OF MONEY AND SECURITIES JUNE 30, 1997

EXHIBIT A

AMOUNTS

                                                              On Deposit                                              Securities
                                                             With Financial     State Owned                   Held For
Schedule      Custodian       On Hand      Institutions(A)   Securities (B)                  Safekeeping

1 State Treasurer $ -- $ -- $2,103,135,855.34 $ --

2 State Treasurer -- -- -- 367,625,482.53

3 Wells Fargo Bank -- 1,322,532.22 -- --

4 U.S. Bank -- 1,078,180.55 -- --

5 Bank of America -- 41,015,160.11 -- --

$ -- $43,415,872.88 $2,103,135,855.34 $367,625,482.53

Note: (A) The amounts reported on deposit with financial institutions represent the institution's balance and have not been reduced by outstanding checks or increased by deposits in transit.

(B) The amounts reported as state owned securities represent original purchase price and do not necessarily reflect adjustments for accretion or amortization.