IA SR 20151006 C - IA Cash Balances JulyCITY OF tiRANCHO PALOS VERDES
MEMORANDUM
TO: HONORABLE CHAIR AND MEMBERS OF THE COMMISSION
FROM: DEBORAH CULLEN, FINANCE DIRECTOR/
DATE: OCTOBER 6, 2015
SUBJECT: JULY 2015 MONTHLY REPORT OF CASH BALANCES
REVIEWED: DOUGLAS WILLMORE, CHIEF ADMINISTRATIVE OFFICER
Staff Coordinator: Jane Lin, Accountant
RECOMMENDATION
Receive and file the July 2015 Monthly Report of Cash Balances for the Rancho Palos
Verdes Improvement Authority.
DISCUSSION
This report summarizes the cash activity associated with all funds of the Improvement
Authority.
The cash balances of the Improvement Authority decreased by $17,278 during the month,
ending with an overall balance of $1,395,419 at July 31, 2015. The decrease was due to
disbursements to Southern California Edison for the utility bills which was in line with the
budget, and McGee Surveying Consulting for the dewatering well activities.
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RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
JULY 2015
Total Investment: $ 1,395,419
Total Investment Weighted Average Return 0.3%
Issuer of
Acquisition
Maturity
Market
Book
Current
Investment
Investment
Date
Date
Value
Value
Yield
Checking Accounts
Bank of West
N/A
On Demand
$ 93,215
$ 93,215
0.00%
Local Agency Investment
344.69
344.69
IA- ABALONE COVE MAINT 1,067,499.41
LESS: CHECKS
(17,622.23)
1,061,480.78
Fund - IA
State of CA
N/A
On Demand
$ 1,300,000
$ 1,300,000
0.32%
Local Agency Investment
1,412,696.54
344.69
0.00
1,395,419.00
LESS: TRANSFERS OUT
1%
Fund - RDA
State of CA
N/A
On Demand
$ 2,204
$ 2,204
0.32%
NOTE (1)
NOTE (2)
Total Investment: $ 1,395,419
Total Investment Weighted Average Return 0.3%
*All interest (LAIF) is paid quarterly
YTDINTEREST
% Change of
OPERATING
LAIF-RDA
TOTAL CASH
RECEIVED
BEGINNING BALANCE
1,410,837.47
1,859.07
1,412,696.54
344.69
PLUS: DEPOSITS
Ending Cash
from Previous
0.00
DEBIT
PLUS: INTEREST EARNINGS*
CASH
344.69
344.69
IA- ABALONE COVE MAINT 1,067,499.41
LESS: CHECKS
(17,622.23)
1,061,480.78
(17,622.23)
1%
ADJUSTMENTS
84.00
11,342.91
0.00
(11,258.91)
PLUS: TRANSFERS IN
1,412,696.54
344.69
0.00
1,395,419.00
LESS: TRANSFERS OUT
1%
0.00
ENDING BALANCE
1,393,215.24
2,203.76
1,395,419.00
344.69
*All interest (LAIF) is paid quarterly
Total Investment: 1,395,419.00
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,
reasurer Dated
2
% 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 MAINT 1,067,499.41
260.69
6,279.32
1,061,480.78
(6,018.63)
1%
IA- PORTUGUESE BEND MAINT 345,197.13
84.00
11,342.91
333,938.22
(11,258.91)
3%
1,412,696.54
344.69
17,622.23
1,395,419.00
(17,277.54)
1%
Total Investment: 1,395,419.00
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,
reasurer Dated
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