IA SR 20160202 C - Cash BalancesCITY OF RANCHO PALOS VERDES
MEMORANDUM
TO: HONORABLE CHAIR & MEMBERS OF THE COMMISSION
FROM: DEBORAH CULLEN, DIRECTOR OF FINANCE
DATE: FEBRUARY 2, 2016
SUBJECT: DECEMBER 2015 MONTHLY REPORT OF CASH BALANCES
REVIEWED: DOUG WILLMORE, CITY MANAGER M./1't,
Project Manager: Jane Lin, Accountant
RECOMMENDATION
Receive and file the December 2015 Monthly Report of Cash Balances for the Rancho
Palos Verdes Improvement Authority.
BACKGROUND
This report summarizes the cash activity associated with all funds of the Improvement
Authority.
DISCUSSION
The cash balances of the Improvement Authority decreased by $7,221 during the
month, ending with an overall balance of $1,473,830 at December 31, 2015. The
decrease was due to disbursements to Southern California Edison for the utility bills
which was in line with the budget, and Strath Pump Company for the dewatering well
activities.
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Investment
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
DECEMBER 2015
Issuer of Acquisition Maturity Market Book Current
Investment Date Date Value Value Yield
Checking Accounts Bank of West N/A On Demand $ 170,578 $ 170,578 0.00%
Local Agency Investment
Fund - IA State of CA N/A On Demand $ 1,301,390 $ 1,301,390 0.40%
Local Agency Investment
Fund - RDA State of CA N/A On Demand $ 1,862 $ 1,862 0.40%
NOTE (1) NOTE (2)
Total Investment: $ 1,473,830
Total Investment Weighted Average Return 0.4%
YTD INTEREST
OPERATING LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS*
LESS: CHECKS
ADJUSTMENTS
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
*AII interest (LAIF) is paid quarterly.
CASH BALANCES BY FUND
177,798.59 1,861.88 1,301,390.44
(7,221.03)
1,481,050.91
0.00
0.00
(7,221.03)
0.00
0.00
0.00
1,393.25
170, 577.56
1,861.88 1,301,390.44 1,473,829.88 1,393.25
% Change of
Change In Cash Balance
BALANCE ENDING Ending Cash from Previous
FORWARD DEBIT CREDIT CASH Balance Month -End
IA- ABALONE COVE MAINT 1,092,129.69 0.00 5,866.54 1,086,263.15 (5,866.54) 1%
IA - PORTUGUESE BEND MAINT 388,921.22 0.00 1,354.49 387,566.73 (1,354.49) 0%
1,481,050.91
0.00 7221.03 1,473,829.88 (7221,03) 0%
Total Investment: 1,473,829.88
NOTE (1): Includes only the portion attributable to the Improvement Authority. Improvement Authority monies are commingled with
Redevelopment Agency monies in this LAIF account.
NOTE (2): LAIF market values will be reported to vary from book value if the Authority calculated share of total LAIF assets is less than the
Authority book value.
To the best of my knowledge, there are no misstatements of material amounts within this report;
or omissions of material amounts to cause the report to be misleading.
I certify that this report accurately reflects all Improvement Authority investments and complies with the investment
policy of the Improvement Authority as approved by the governing board. Furthermore, I certify that sufficient
investment liquidity and anticipated revenues are available to meet the Authority's expenditure requirements for the
next six months.
Respectfully submitted,
ibri—Xek 1/41
Treasurer Dated
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