IA SR 20150203 03 Cash Balances DecemberCITY OF L RANCHO PALOS VERDES
MEMORANDUM
TO: HONORABLE CHAIR AND MEMBERS OF THE COMMISSION
FROM: KATHRYN DOWNS, ACTING FINANCE DIRECTOR 166
DATE: FEBRUARY 3, 2015
SUBJECT: DECEMBER 2014 MONTHLY REPORT OF CASH BALANCES
REVIEWED: CAROLYNN PETRO, ACTING CHIEF ADMINISTRATIVE
OFFICER
Staff Coordinator: Jane Lin, Accountant
RECOMMENDATION
Receive and file the December 2014 Monthly Report of Cash Balances for the Rancho
Palos Verdes Improvement Authority.
BACKGROUND
With the adoption of the state budget for FY06-07, government agencies are no longer
required to submit a treasurer's report to their governing board, as defined by California
Government Code. Notwithstanding the change of California law, staff has continued to
separately prepare a monthly cash balance report for the Improvement Authority and the
City. This report summarizes the cash activity associated with all funds of the
Improvement Authority.
ANALYSIS
The cash balances of the Improvement Authority decreased by $16,024 during the month,
ending with an overall balance of $1,411,318 at December 31, 2014. The decrease was
due to disbursements to Southern California Edison for the utility bills and Hardy & Harper
for the dewatering well activities.
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RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
DECEMBER 2014
Issuer of Acquisition Maturity Market Book Current
Investment Investment Date Date Value Value Yield
Checking Accounts Bank of West N/A On Demand $ 1,409,461 $ 1,409,461 None
Local Agency Investment
Fund State of CA N/A On Demand $ 1,857 $ 1,857 0.27%
NOTE (1) NOTE (2)
Total Investment: $ 1,411,318
Total Investment Weighted Average Return
*All interest (LAIF) is paid quarterly.
0.00%
YTDINTEREST
OPERATING
LAIF-RDA TOTAL CASH
RECEIVED
BEGINNING BALANCE
1,425,485.11
1,856.69 1,427,341.80
2.15
PLUS: DEPOSITS
0.00
ENDING
PLUS: INTEREST EARNINGS*
from Previous
0.00
DEBIT
LESS: CHECKS
(16,024.22)
(16,024.22)
Month -End
ADJUSTMENTS
0.00
0.00
1,066,010.30
PLUS: TRANSFERS IN
0%
0.00
0.00
LESS: TRANSFERS OUT
345,307.28
0.00
4%
ENDING BALANCE
1,409,460.89
1,856.69 1,411,317.58
2.15
*All interest (LAIF) is paid quarterly.
0.00%
Total Investment: 1,411,317.58
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,
- / - " I La -7/,S
Tf6asurer V Dated
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% Change of
Change In
Cash Balance
BALANCE
ENDING
Ending Cash
from Previous
CASH BALANCES BY FUND FORWARD
DEBIT
CREDIT
CASH
Balance
Month -End
IA- ABALONE COVE MAI NT 1,067,130.43
0.00
1,120.13
1,066,010.30
(1,120.13)
0%
IA - PORTUGUESE BEND MAINT 360,211.37
0.00
14,904.09
345,307.28
(14,904.09)
4%
1,427.341.80
0.00
16,024.22
1,411.317.58
(16,024.22)
1%
Total Investment: 1,411,317.58
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,
- / - " I La -7/,S
Tf6asurer V Dated
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