IA SR 20151006 D - IA Cash Balances AugCITY OF RANCHO PALOS VERDES
MEMORANDUM
TO: HONORABLE CHAIR AND MEMBERS OF THE COMMISSION
FROM: DEBORAH CULLEN, FINANCE DIRECTOR ja JtTl 0C
DATE: OCTOBER 6, 2015
SUBJECT: AUGUST 2015 MONTHLY REPORT OF CASH BALANCES
REVIEWED: DOUGLAS WILLMORE, CHIEF ADMINISTRATIVE OFFICERi/
Staff Coordinator: Jane Lin, Accountant
RECOMMENDATION
Receive and file the August 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 $3,263 during the month,
ending with an overall balance of $1,392,156 at August 31, 2015. The decrease was due to
disbursements to Southern California Edison for the utility bills which was in line with the
budget, and expenditures for the dewatering well activities.
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RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
AUGUST 2015
Total Investment: $ 1,392,156
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
$ 89,952 $
89,952
0.00%
Local Agency Investment
(3,263.23)
Month -End
ADJUSTMENTS
0.00
0.00
1,059,371.77
Fund - IA
State of CA
N/A
On Demand
$ 1,300,000 $
1,300,000
0.33%
Local Agency Investment
ENDING BALANCE
1,389,952.01
2,203.76 1,392,155.77
344.69
(3,263.23)
0%
Fund - RDA
State of CA
N/A
On Demand
$ 2,204 $
2,204
0.33%
NOTE (1)
NOTE (2)
Total Investment: $ 1,392,156
Total Investment Weighted Average Return 0.3%
*All interest (LAIF) is paid quarterly
YTDINTEREST
OPERATING
LAIF-RDA TOTAL CASH
RECEIVED
BEGINNING BALANCE
1,393,215.24
2,203.76 1,395,419.00
344.69
PLUS: DEPOSITS
0.00
ENDING
PLUS: INTEREST EARNINGS*
from Previous
0.00
DEBIT
LESS: CHECKS
(3,263.23)
(3,263.23)
Month -End
ADJUSTMENTS
0.00
0.00
1,059,371.77
PLUS: TRANSFERS IN
0%
0.00
0.00
LESS: TRANSFERS OUT
332,784.00
0.00
0%
ENDING BALANCE
1,389,952.01
2,203.76 1,392,155.77
344.69
*All interest (LAIF) is paid quarterly
Total Investment: 1,392,155.77
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,
4Tr asurer 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 1,061,480.78
0.00
2,109.01
1,059,371.77
(2,109.01)
0%
IA - PORTUGUESE BEND MAINT 333,938.22
0.00
1,154.22
332,784.00
(1,154.22)
0%
1,395,419.00
0.00
3,263.23
1,392,155.77
(3,263.23)
0%
Total Investment: 1,392,155.77
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,
4Tr asurer Dated
2