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      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5:</ReturnReference>
        <Explanation>NET UNREALIZED GAINS ON INVESTMENTS: 2,737.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>REVIEW PROCESS</Identifier>
        <ReturnReference>FORM 990, PART XII, LINE 2C</ReturnReference>
        <Explanation>REVIEW PROCESS OF THE FORM 9900 HAS NOT CHANGED FROM THE PRIOR YEAR.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>KERN COUNTY ELECTRICAL WORKERS PENSION TRUST</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>3008 SILLECT AVENUE STE 100</AddressLine1>
          <City>BAKERSFIELD</City>
          <State>CA</State>
          <ZIPCode>93308</ZIPCode>
        </AddressUS>
        <EIN>956123049</EIN>
        <PrimaryActivities>TO PROVIDE PENSION BENEFIT TO ELIGIBLE ELECTRICAL WORKERS RETIREES.</PrimaryActivities>
        <LegalDomicileState>CA</LegalDomicileState>
        <ExemptCodeSection>501(A)</ExemptCodeSection>
        <ControlledOrg>0</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>KERN COUNTY ELECTRICAL WORKERS JOURNEYMAN &amp; APPRENTICE</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>3008 SILLECT AVENUE STE 100</AddressLine1>
          <City>BAKERSFIELD</City>
          <State>CA</State>
          <ZIPCode>93308</ZIPCode>
        </AddressUS>
        <EIN>956053541</EIN>
        <PrimaryActivities>TO PROVIDE EDUCATION AND TRAINING.</PrimaryActivities>
        <LegalDomicileState>CA</LegalDomicileState>
        <ExemptCodeSection>501(C)(5)</ExemptCodeSection>
        <ControlledOrg>0</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>CONSTRUCTION BENEFITS ADMINISTRATION INC</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>3008 SILLECT AVENUE SUITE 100</AddressLine1>
          <City>BAKERSFIELD</City>
          <State>CA</State>
          <ZIPCode>93308</ZIPCode>
        </AddressUS>
        <EIN>953142450</EIN>
        <PrimaryActivity>PROVIDE ADMINISTRATIVE FUNCTIONS</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityName>
          <BusinessNameLine1>NONE</BusinessNameLine1>
        </DirectControllingEntityName>
        <TypeOfEntity>C</TypeOfEntity>
      </Form990ScheduleRPartIV>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>0</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>0</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>0</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>0</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>1</SharingOfFacilities>
      <SharingOfPaidEmployees>0</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>1</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
    </IRS990ScheduleR>
  </ReturnData>
</Return>