IA SR 20160301 C - IA Cash Balance ReportIMPROVEMENT AUTHORITY MEETING DATE: 03/01/2016
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action to discuss the January 2016 monthly report of cash
balances.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the January 2016 Monthly Report of Cash Balances for the
Rancho Palos Verdes Improvement Authority.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Jane Lin, Accountant
REVIEWED BY:
APPROVED BY:
Deborah Cullen, Director of Finance .L
Doug Willmore, Chief Administrative Officer
ATTACHED SUPPORTING DOCUMENTS:
A. Monthly Report of Cash Balances (page A-1)
BACKGROUND AND DISCUSSION:
This report summarizes the cash activity associated with all funds of the Improvement
Authority.
The cash balances of the Improvement Authority decreased by $2,192 during the
month, ending with an overall balance of $1,471,638 at January 31, 2016. The
decrease was due to disbursements to Southern California Edison (SCE) utility bills,
which were in line with the budget, and Vavrinek, Trine, Day & Company for the annual
audit services. Quarterly interest was offset by these expenditures.
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Investment
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
JANUARY 2016
Issuer of Acquisition Maturity Market Book Current
Investment Date Date Value Value Yield
Checking Accounts Bank of West N/A On Demand $ 167,179 $ 167,179 0.00%
Local Agency Investment
Fund - IA State of CA N/A On Demand $ 1,302,595 $ 1,302,595 0.45%
Local Agency Investment
Fund - RDA State of CA N/A On Demand $ 1,864 $ 1,864 0.45%
NOTE (1) NOTE (2)
Total Investment: $ 1,471,638
Total Investment Weighted Average Return 0.4%
YTD INTEREST
OPERATING LAIF-RDA LAIF-1A TOTAL CASH RECEIVED
BEGINNING BALANCE 170,577.56 1,861.88 1,301,390.44 1,473,829.88 2,599.45
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNINGS" 1.72 1,204.48 1,206.20
LESS: CHECKS (3,398.51) (3,398.51)
ADJUSTMENTS 0.00
PLUS: TRANSFERS IN 0.00
LESS: TRANSFERS OUT 0.00
ENDING BALANCE 167,179.05 1,863.60 1,302,594.92 1,471,637.57 2,599.45
*All interest (LAIF) is paid quarterly.
CASH BALANCES BY FUND
% Change of
Change In Cash Balance
BALANCE ENDING Ending Cash from Previous
FORWARD DEBIT CREDIT CASH Balance Month -End
IA - ABALONE COVE MAINT 1,086,263.15 888.20 1,030.09 1,086,121.26 (141.89) 0%
IA - PORTUGUESE BEND MAINT 387,566.73 318.00 2,368.42 385,516.31 (2,050.42) 1%
1,473,829.88 1,206.20 3,398.51 1,471,637.57 (2,192.31) 0%
Total Investment: 1,471,637.57
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,
Treasurer
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Dated
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