EXHIBIT 99.1
Information, Financial Statements, and Exhibits
Required by Form 11-K in accordance with
Rule 15d-21 under the
Securities Exchange Act of 1934
For the Fiscal Years Ended December 31, 1995
and December 31, 1994
Delphi Information Systems, Inc.
Cash Option Profit Sharing Plan
DELPHI INFORMATION SYSTEMS, INC.
--------------------------------
The principal executive offices of Delphi Information Systems, Inc.
are located at 3501 Algonquin Road, Rolling Meadows, Illinois 60008
ITEM 1. CHANGES IN THE PLAN
Delphi Information Systems, Inc. (the "Company") adopted the Cash
Option Profit Sharing Plan (the "Plan") effective January 1, 1988.
There were no material changes in the provisions of the Plan during
1995 or 1994.
ITEM 2. CHANGES IN INVESTMENT POLICY
There were no material changes made during 1995 or 1994 with respect
to investment policy.
ITEM 3. CONTRIBUTIONS UNDER THE PLAN
The Company made no contributions to the Plan in 1995 or 1994.
ITEM 4. PARTICIPATING EMPLOYEES
As of December 31, 1995, there were approximately 528 employees who
were participants in the Plan compared to 479 employees as of December
31, 1994.
ITEM 5. ADMINISTRATION OF THE PLAN
(a) The Plan is administered by the Company's Administrative
Committee (the "Committee" or "Administrators"), the members of which
are appointed by the Board of Directors. The members of the Committee
and their titles with the Company as of April 1, 1995 are as follows:
Position with the
Member's Names Company or Affiliates
-------------- ---------------------
M. Denis Connaghan President and CEO
Meigan Putnam Vice President, Operations
The business address of each member of the Committee is 3501 Algonquin
Road, Rolling Meadows, Illinois 60008.
The Administrators of the Plan also serve as the Trustees of the Plan.
The trust established under the Plan is administered by the Trustees.
(b) During 1995 and 1994, no Committee members or Trustees received
any compensation from the Plan for services rendered in connection
with the administration of the Plan.
2
ITEM 6. INVESTMENT CUSTODIAN
(a) Connecticut General Life Insurance Company ("CIGNA") acts as
custodian of the Plan's securities and investments. Its offices are
located at:
Connecticut General Life Insurance Company
Group Pension Division
Metro Center One
350 Church Street
M-80
Hartford, CT 06104
CIGNA manages participant contributions which are invested in an
employee directed combination of the Cigna Guaranteed Long Term
Account, Cigna Guaranteed Government Securities Account, Fidelity
Income and Growth Account and/or the Fidelity Growth Opportunities
Account.
CIGNA delivers participants' contributions that are to be invested in
the Company's common stock to Smith Barney Shearson ("Smith Barney")
who executes the buy or sell orders it is given and holds the stock
certificates. Smith Barney's offices are located at:
Smith Barney Shearson
350 California Street
San Francisco, CA 94104-1477
(b) The contract and administrative fees incurred by the Plan are
payable to CIGNA, the Plan Custodian. During 1995, the fees were
$21,339 compared to $14,979 in 1994. The Company paid these fees on
behalf of the Plan in both years.
(c) The Company and the Plan Administrators had a banker's blanket
bond in the amount of $500,000 at December 31, 1995 with a deductible
of $-0-.
ITEM 7. REPORTS TO PARTICIPATING EMPLOYEES
Participating employees are furnished quarterly statements during the
year reflecting the status of their accounts. The first such
statement was issued on March 31, 1988.
ITEM 8. INVESTMENTS OF PLAN
Brokerage fees of $1,151 were paid to Smith Barney in 1995 compared to
$634 in 1994. No brokerage fees were paid to any person described in
SEC requirements for disclosure in Item 8(a)(2) of this form.
3
ITEM 9. FINANCIAL STATEMENTS AND EXHIBITS
(a) Index of Financial Statements and Schedules
Page
----
Report of Independent Public Accountants F-1
Statement of Net Assets Available for Plan Benefits
as of December 31, 1995 F-2
Statement of Net Assets Available for Plan Benefits
as of December 31, 1994 F-3
Statement of Changes in Net Assets Available for
Plan Benefits for the Year Ended December 31, 1995 F-4
Statement of Changes in Net Assets Available for
Plan Benefits for the Year Ended December 31, 1994 F-5
Notes to Financial Statements F-6 to F-11
Schedule I - Item 27a--Schedule of Assets Held for
Investment Purposes F-12
Schedule II - Item 27d--Schedule of Reportable
Transactions F-13
(b) Exhibits
None
4
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 the
Committee has duly caused this annual Report to be signed by the undersigned
thereunto duly authorized.
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
Date: June 5, 1996 Signature
----------------------- ------------------------
M. Denis Connaghan
President and CEO
5
REPORT OF INDEPENDENT PUBLIC ACCOUNTANTS
To the Trustees of
Delphi Information Systems, Inc.
Cash Option Profit Sharing Plan
We have audited the accompanying statements of net assets available for Plan
benefits of Delphi Information Systems, Inc. Cash Option Profit Sharing Plan as
of December 31, 1995 and 1994 and the related statements of changes in net
assets available for the Plan benefits for the years then ended. These
financial statements and schedules referred to below 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 of the Plan as of December 31, 1995 and
1994 and the changes in its net assets for the years then ended, in conformity
with generally accepted accounting principles.
Our audits were made for the purpose of forming an opinion on the basic
financial statements taken as a whole. The supplemental schedules of assets
held for investment purposes and reportable transactions are presented for
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 of Reporting and Disclosure under
the Employee Retirement Income Security Act of 1974. The supplemental schedules
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.
The schedule of assets held for investment purposes as of December 31, 1995 and
the schedule of reportable transactions for the year ended December 31, 1995 do
not disclose the historical cost of the Plan's investments. Disclosure of the
information is required by the Department of Labor Rules and Regulations for
Reporting and Disclosure under the Employee Retirement Income Security Act of
1974.
ARTHUR ANDERSEN LLP
Chicago, Illinois
June 25, 1996
F-1
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
As of December 31, 1995
FUND INFORMATION
----------------------------------------------------------------------------------- -----------
CIGNA Fidelity
CIGNA Guaranteed Income Fidelity
Delphi Guaranteed Government and Growth
Common Long Term Securities Growth Opportunities Loan
Stock Account Account Account Account Account Total
----------------------------------------------------------------------------------- ------------
PLAN ASSETS:
Investments:
Delphi
Common Stock $ 32,037 $ - $ - $ - $ - $ - $ 32,037
Guaranteed
Long Term
Account - 1,548,571 - - - - 1,548,571
Guaranteed
Government
Securities
Account - - 107,800 - - - 107,800
Income and
Growth
Account - - - 1,116,156 - - 1,116,156
Growth
Opportunities
Account - - - - 3,004,221 - 3,004,221
Participant Loans - - - - - 168,583 168,583
-----------------------------------------------------------------------------------------------------
Total investments 32,037 1,548,571 107,800 1,116,156 3,004,221 168,583 5,977,367
Cash - - - - - - 0
Participants'
contributions
receivable 1,111 15,983 2,347 22,321 35,749 - 77,511
-----------------------------------------------------------------------------------------------------
Net assets available for
Plan benefits $ 33,148 $ 1,564,554 $ 110,147 $ 1,138,477 $ 3,039,969 $ 168,583 $ 6,054,878
-----------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------
The accompanying notes are an integral part of these statements.
F-2
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS, WITH FUND INFORMATION
As of December 31, 1994
FUND INFORMATION
------------------------------------------------------------------------
CIGNA Fidelity
CIGNA Guaranteed Income Fidelity
Delphi Guaranteed Government and Growth
Common Long Term Securities Growth Opportunities Loan
Stock Account Account Account Account Account Total
------------------------------------------------------------------------ -------------
PLAN ASSETS:
Investments:
Delphi
Common Stock $ 17,454 $ - $ - $ - $ - $ - $ 17,454
Guaranteed
Long Term
Account - 1,785,877 - - - - 1,785,877
Guaranteed
Government
Securities
Account - - 124,765 - - - 124,765
Income and
Growth
Account - - - 1,099,845 - - 1,099,845
Growth
Opportunities
Account - - - - 2,070,965 - 2,070,965
Participant Loans - - - - - 211,656 211,656
---------------------------------------------------------------------------------------
Total investments 17,454 1,785,877 124,765 1,099,845 2,070,965 211,656 5,310,562
Cash - - - - - - 0
Participants'
contributions
receivable 837 23,971 2,606 23,481 39,173 - 90,068
---------------------------------------------------------------------------------------
Net assets available for
Plan benefits $ 18,291 $ 1,809,848 $ 127,371 $ 1,123,326 $ 2,110,138 $ 211,656 $ 5,400,630
---------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------
The accompanying notes are an integral part of these statements.
F-3
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE
FOR PLAN BENEFITS, WITH FUND INFORMATION
For the Year Ended December 31, 1995
FUND INFORMATION
----------------------------------------------------------------------------------------
CIGNA Fidelity
CIGNA Guaranteed Income Fidelity
Delphi Guaranteed Government and Growth
Common Long Term Securities Growth Opportunities Loan
Stock Account Account Account Account Account Total
-----------------------------------------------------------------------------------------
ADDITIONS:
Contributions:
Participants $12,092 $192,906 $26,646 $251,381 $426,354 $0 $909,379
Investment Income:
Net appreciation/(depreciation) in
fair value of investments 9,283 0 5,640 149,467 707,439 0 871,828
Interest 18 110,534 277 3,796 5,213 0 119,838
Dividends 0 0 0 0 0 0 0
-----------------------------------------------------------------------------------------
Total investment income/(loss) 9,300 110,534 5,918 153,262 712,652 0 991,666
-----------------------------------------------------------------------------------------
Total additions 21,392 303,439 32,564 404,643 1,139,006 0 1,901,045
-----------------------------------------------------------------------------------------
DEDUCTIONS:
Benefits paid to participants (4,786) (611,351) (45,988) (259,488) (323,927) 0 (1,245,540)
Other expenses (1,257) 0 0 0 0 0 (1,257)
-----------------------------------------------------------------------------------------
Total deductions (6,043) (611,351) (45,988) (259,488) (323,927) 0 (1,246,797)
-----------------------------------------------------------------------------------------
LOANS ISSUED TO PARTICIPANTS (384) (12,623) 0 (53,523) (41,060) 107,591 0
LOAN PRINCIPAL REPAYMENTS 253 49,829 6,798 50,981 42,803 (150,664) (0)
INTERFUND TRANSFERS (362) 25,409 (10,599) (127,461) 113,012 0 0
-----------------------------------------------------------------------------------------
NET INCREASE (DECREASE) 14,857 (245,296) (17,225) 15,152 929,833 (43,073) 654,248
NET ASSETS AVAILABLE FOR PLAN BENEFITS
Beginning of year 18,291 1,809,850 127,372 1,123,325 2,110,136 211,656 5,400,630
-----------------------------------------------------------------------------------------
End of year $33,148 $1,564,554 $110,147 $1,138,477 $3,039,969 $168,583 $6,054,878
-----------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------
The accompanying notes are an integral part of these statements
F-4
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE
FOR PLAN BENEFITS, WITH FUND INFORMATION
For the Year Ended December 31, 1994
FUND INFORMATION
---------------------------------------------------------------------------------------
CIGNA Fidelity
CIGNA Guaranteed Income Fidelity
Delphi Guaranteed Government and Growth
Common Long Term Securities Growth Opportunities Loan
Stock Account Account Account Account Account Total
---------------------------------------------------------------------------------------
ADDITIONS:
Contributions:
Participants $24,780 $431,171 $45,190 $709,453 $858,721 $0 $2,069,315
Investment Income:
Net appreciation/(depreciation) in
fair value of investments (36,699) 0 3,332 (58,553) 18,320 0 (73,600)
Interest 0 99,325 307 2,742 1,959 0 104,333
Dividends 102 0 0 0 0 0 102
---------------------------------------------------------------------------------------
Total investment income/(loss) (36,597) 99,325 3,639 (55,811) 20,279 0 30,835
---------------------------------------------------------------------------------------
Total additions (11,817) 530,496 48,829 653,642 879,000 0 2,100,150
---------------------------------------------------------------------------------------
DEDUCTIONS:
Benefits paid to participants (4,127) (307,794) (14,943) (163,220) (184,222) 0 (674,306)
Other expenses (134) 0 0 0 0 0 (134)
---------------------------------------------------------------------------------------
Total deductions (4,261) (307,794) (14,943) (163,220) (184,222) 0 (674,440)
---------------------------------------------------------------------------------------
LOANS ISSUED TO PARTICIPANTS 0 (154,924) (1,306) (25,779) (12,336) 194,345 0
LOAN PRINCIPAL REPAYMENTS 0 81,023 2,082 12,583 12,638 (108,326) 0
INTERFUND TRANSFERS (3,354) 31,490 (28,934) (123,471) 124,269 0 0
---------------------------------------------------------------------------------------
NET INCREASE (DECREASE) (19,432) 180,291 5,728 353,755 819,349 86,019 1,425,710
NET ASSETS AVAILABLE FOR PLAN BENEFITS
Beginning of year 37,723 1,629,557 121,643 769,571 1,290,789 125,637 3,974,920
---------------------------------------------------------------------------------------
End of year $18,291 $1,809,848 $127,371 $1,123,326 $2,110,138 $211,656 $5,400,630
---------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------
The accompanying notes are an integral part of these statements
F-5
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS
DECEMBER 31, 1995 AND 1994
1. PLAN DESCRIPTION
The following is a general description of the Cash Option Profit Sharing
Plan (the "Plan"). Participants should refer to the Plan agreement for a
more complete description of the Plan's provisions.
GENERAL
The Plan, which commenced January 1, 1988, is a qualified cash option
profit sharing plan offered to all eligible employees of Delphi Information
Systems, Inc. (the "Company" or "Delphi") when hired. Enrollment to
participate and election changes occur quarterly. The Plan is subject to
the provisions of the Employee Retirement Income Security Act of 1974
(ERISA) and Section 401 (a) and Section 401 (k) of the Internal Revenue
Code of 1986, as amended (IRC). At December 31, 1995, there were 528
active participants in the Plan of whom 280, 92, 306, 258 and 68 were
electing to invest either wholly or partially in the CIGNA Guaranteed Long
Term Account, the CIGNA Guaranteed Government Securities Account, the
Fidelity Income and Growth Account, the Fidelity Growth Opportunities
Account and Delphi Common Stock, respectively. At December 31, 1994 there
were 479 active participants of whom 257, 73, 241, 268 and 59 were electing
to invest either wholly or partially in the CIGNA Guaranteed Long Term
Account, the CIGNA Guaranteed Government Securities Account, the Fidelity
Income and Growth Account, the Fidelity Growth Opportunities Account and
Delphi Common Stock, respectively.
CONTRIBUTIONS
Participants may elect to contribute an amount equaling from 1% to 20% of
their basic compensation up to a maximum of $9,240 for both 1995 and 1994
(salary reduction contributions). This maximum allowable contribution is
adjusted each year for increases in the cost of living as provided in
applicable regulations. This annual amount is an aggregate limitation that
applies to all of an individual's salary reduction contributions and
similar contributions under other plans. The Company may make an annual
discretionary contribution to the Plan. Each Plan year, the Company will
decide what portion of its profits, if any, it will contribute to the Plan.
The Company did not make any contribution to the Plan during 1995 and 1994.
The salary reduction contributions made on behalf of each participant are
paid to the Custodian as soon as practical after the last day of each
month, and deposited to the investment funds as directed by the
participant.
F-6
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS, Continued
DECEMBER 31, 1995 AND 1994
PARTICIPANT ACCOUNTS
Each participant's account is credited with (1) the participant's
contributions, (2) the related Company matching contributions, if any, and
(3) fund earnings or losses. These accounts are summarized in the
accompanying financial statements as net assets available for plan
benefits.
VESTING
Each participant has an immediate, fully vested right to receive all salary
reduction contributions and earnings thereon, upon termination from the
Company, or upon separation caused by death of the participant or under
other special circumstances.
The Company's contributions to the Plan, if any, and the earnings on such
contributions, become vested in accordance with the following schedule:
Years Vested
of Service percentage
-----------------------------------------------
1 but less than 2 25%
2 but less than 3 50%
3 but less than 4 75%
4 or more 100%
FORFEITURES
If a participant stops working for the Company before their account is 100%
vested, they may forfeit the nonvested portion of their account. All
amounts that are forfeited by terminated Participants are added to the
Company's contributions to the Plan and divided up among the accounts of
eligible Participants.
INVESTMENTS
Each participant directs that salary reduction contributions for the
participants' benefit and any earnings thereon be invested in one or more
of the following funds:
a. CIGNA Guaranteed Long Term Account - Invests in longer term fixed income
securities, such as corporate bonds and commercial mortgages.
F-7
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS, Continued
DECEMBER 31, 1995 AND 1994
b. CIGNA Guaranteed Government Securities Account - Invests in U.S.
Treasuries, government agency obligations and repurchase agreements
fully backed by such securities.
c. Fidelity Income and Growth Account - Invests in a diversified portfolio
of equity and fixed income securities.
d. Fidelity Growth Opportunities Account - Invests in common stocks and
securities convertible into common stocks.
e. Delphi Stock Account - Invests in the shares of the Company's common
stock. Participants are limited to a maximum of 25% of their annual
contributions that can be invested in the Company's stock.
F-8
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS, Continued
DECEMBER 31, 1995 AND 1994
PAYMENT OF BENEFITS
Upon termination of employment, a participant's benefit is distributed in a
single, lump sum payment. The distribution is made in the form of cash,
unless the participant elects to receive the portion of his account that
was invested in the Company's stock in the form of whole shares of such
Company stock.
EXPENSES
Expenses in connection with the purchase or sale of stock or other
securities are charged to the fund for which such purchase or sale is made.
The Trust Agreement stipulates that expenses incurred by the Trustee in the
performance of its duties shall be paid from the Trust Fund unless paid by
the Company at its sole discretion. During 1995 and 1994 the Company
elected to pay these expenses which consisted of the following: (1)
accounting and legal fees of approximately $6,000 in both 1995 and 1994;
and (2) record keeping fees paid to the Custodian of $21,339 and $14,979 in
1995 and 1994, respectively.
TERMINATION
Although it has not expressed any intent to do so, the Company has the
right under the Plan to discontinue its contributions at any time and to
terminate the Plan subject to the provisions of ERISA. In the event of
Plan termination, participants will become fully vested in any Company
contributions to their accounts.
ADMINISTRATION
The Plan is administered by an Administrative Committee appointed by the
Board of Directors of the Company.
The Committee has responsibility for supervising the collection of
contributions, delivery of such contributions to the Trustee, and
maintenance of necessary records.
The Trustee's responsibilities include receipt of Plan contributions,
investment and maintenance of trust assets in the available funds, and
distributions under the plan of such amounts as the Committee shall direct
from time to time.
F-9
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS, Continued
DECEMBER 31, 1995 and 1994
2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
BASIS OF ACCOUNTING
The accompanying financial statements are prepared on the accrual basis of
accounting.
INVESTMENTS
Investments are stated at fair value. Purchases and sales of securities are
reflected on a settlement date basis. In accordance with the policy of
stating investments at fair value, realized and unrealized gains and losses
on investments are reflected as net appreciation/depreciation in the
Statements of Changes in Net Asset Available for Plan Benefits. Dividend
income is accrued on the ex-dividend date. Interest income from other
investments is accrued as earned.
The value of the investment in the CIGNA Guaranteed Long Term Account and
the CIGNA Guaranteed Government Securities Account is equal to the amounts
deposited in the account plus interest credited thereon less expenses,
charges and other distributions. The CIGNA Guaranteed Long Term Account
bore an interest rate of 5.65 percent at December 31, 1995 (5.40 percent at
December 31, 1994). The CIGNA Guaranteed Government Securities Account held
9,301.12 units with a unit value of $11.59 at December 31, 1995.
The value of a unit in the Fidelity Income and Growth Account and the
Fidelity Growth Opportunities Account is based on the market value of the
assets in the account at year-end. The Fidelity Income and Growth Account
held 53,661.35 units with a unit value of $20.80 at December 31, 1995. The
Fidelity Growth Opportunities Account held 73,148.79 units with a unit value
of $41.07 at December 31, 1995. Investments in these accounts, traded on
national securities exchanges, are valued at year-end closing prices, and in
the case of over-the-counter securities, at closing prices at December 31.
LOANS TO PARTICIPANTS
The Plan allows participants to borrow against their accounts subject to
certain limitations. The rate of interest on such borrowings is equal to
the rate of interest paid by the CIGNA Guaranteed Long Term Account at the
time the loan is made. Employee loans outstanding were $168,583 and
$211,656 at December 31, 1995 and 1994, respectively. Loans during the plan
year were distributed at interest rates ranging from 7.25 to 8.75 percent.
F-10
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
NOTES TO FINANCIAL STATEMENTS, Continued
DECEMBER 31, 1995 and 1994
CONTRIBUTIONS
Participant contributions are recorded in the period that a participant's
payroll deductions are made. Participant rollovers are funds transferred
into the Plan during the respective year from new participants' previous
employer plans.
3. TAX STATUS
The Internal Revenue Service has determined and informed the Company by a
letter dated August 4, 1995, that the Plan is qualified and the trust
established under the Plan is tax-exempt, under the appropriate sections of
the Code.
F-11
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
SCHEDULE I - ITEM 27a - - SCHEDULE OF ASSETS
HELD FOR INVESTMENT PURPOSES
As of December 31, 1995
Market
Value at
Close of
Name of Issuer and Title of Issue Cost (a) Period
--------------------------------- ---------- -----------
* Delphi common stock, 25,629 shares,
$0.10 par value, $1.25 per share $ 32,036
* CIGNA Guaranteed Long Term Account,
5.65 percent 1,548,571
* CIGNA Guaranteed Government Securities
Account, 9,301.12 units, $11.59 per unit 107,800
* Fidelity Income and Growth Account,
53,661.35 units, $20.80 per unit 1,116,156
* Fidelity Growth Opportunities Account,
73,148.79 units, $41.07 per unit 3,004,221
* Participant Loans
7.25 to 8.75 percent interest 168,583
-----------
$ 5,977,367
-----------
-----------
(a) Historical cost information could not be obtained from the Plan's
* Represents a party in interest as of December 31, 1995.
F-12
DELPHI INFORMATION SYSTEMS, INC.
Cash Option Profit Sharing Plan
SCHEDULE II - 27d -- SCHEDULE OF REPORTABLE TRANSACTIONS
For the Year Ended December 31, 1995
Purchases Dispositions
--------- --------------------------------
Purchase Price
and Current Value
Involved Fund Description Number of of Assets on Selling Gain/
Party Name of Assets Transactions Transaction Date Price Cost Loss
- ---------- ---------- ------------ ------------ ----------------- -------- --------- -------
* CIGNA Guaranteed Fixed Income (a) $386,954 $742,514 $ --
Long Term
Account
* CIGNA Income and Equity and Fixed (a) $377,851 $505,572 $484,030 $21,542
Growth Income Securities
Account Fund
* Fidelity Growth Common Stock (a) $720,872 $465,183 $401,356 $63,827
Opportunities Fund
Account
(a) Information could not be obtained from the Plan's custodian.
* Represents a party in interest as of December 31, 1995
The accompanying notes are an integral part of these statements.
F-13