RPVCCA_CC_SR_2014_01_08_D_Monthly_Cash_BalancesCITY OF RANCHO PALOS VERDES
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNC~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY~
JANUARY 8, 2014
NOVEMBER 2013 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER ~
Jane Lin, Accountant
RECOMMENDATION
Receive and file the November 2013 Monthly Report of Cash Balances for the City of
Rancho Palos Verdes.
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
submit a cash balance report to the Council for review each month. This report summarizes
the cash activity associated with all funds of the City.
A separate report is prepared monthly for the Improvement Authority and is presented
under separate cover before the Authority Commission. The attached report includes the
cash activities of the City for the month of November 2013.
ANALYSIS
The overall cash balances of the City totaled $43,610,756 at November 30, 2013. This
represents a $1,624,715 decrease during the month. The overall decrease is a result of
various factors over several individual funds of the City. These factors are discussed in
detail below for each fund experiencing a noteworthy cash event (defined as more than
$50,000 and 5% of the cash balance in a particular fund).
Employee Benefits Fund -The cash balance in this fund decreased by more than $79,000
during the month. The most significant factor of decrease was the disbursements for the
City's share of employee insurance premiums totaling $69,841.
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November 2013 Monthly Report of Cash Balances
January 8, 2014
Page 2
Gas Tax Fund -The cash balance in this fund decreased by more than $216,000 during
the month. The decrease was primarily due to the fact that the November Highway User
Tax was not received until December, while normal operating expenditures were disbursed.
The large disbursements included $70,887 to John Simich Construction for the sidewalk
repair project and a total disbursement of $90,604 to Hardy & Harper for the Palos Verdes
Drive South landslide repair project.
Proposition A Fund -The cash balance in this fund increased by more than $66,000 during
the month due to receipt of the November Proposition A apportionment. The Proposition A
fund pays for the Palos Verdes Peninsula Transit Authority contribution. Disbursements for
that contribution are only made twice per year, typically in August and January.
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $1,500,000 during the month mainly due to a large disbursement of $1,473,048 to L.
H. Woods & Sons for the San Ramon Canyon Stabilization project. Other disbursements
including $48,730 to CBM Consulting, $32,327 to Ninyo & Moore Geotechnical, and $7,500
to SFC Consultants were also for the San Ramon Canyon Stabilization project.
D-2
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS ELECTRONIC DISBURSEMENTS(2:
ADJUSTMENTS(3)
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Cal Pers
Bank and Merchant Fees
OPERATING
908,407.32
1,667, 196.20
(2,839,588.07)
(39,641.00)
1,409.14
4,000,000.00
(414,090.98)
3,283,692.61
36,469.40
3,171.60
39,641.00
BANKCARD
0.00
0.00
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
NOVEMBER 2013
TREASURIES
PETTY CASH PAYROLL LAIF-CITY BOA
2,500.00 376,250.38 43,948,312.80 0.00
(414,091.00)
414,090.98
(4,000,000.00)
2,500.00 376,250.36 39,948,312.80 0.00
(3) The net adjustment was due to two void checks, non-sufficient check items, and other adjustment.
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
GIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
Restricted by Law or External Agencies
GAS TAX
1972 ACT
EL PRADO
CDBG
CDBG-R
1911 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOSITION C
PROPOSITION A
PUBLIC SAFETY GRANTS
MEASURER
HABITAT RESTORATION
SUBREGION 1 MAINTENANCE
MEASURE A MAINTENANCE
ABALONE COVE SEWER DISTRICT
RPVTV
GINSBURG CULTURE ARTS BUILDING
DONOR RESTRICTED CONTRIBUTIONS
QUIMBY
LOW-MODERATE INCOME HOUSING
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICATION
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
14,638,800.60
1,003,782.37
11,278,348.84
2,401,094.65
941,162.68
(1,162,534.94)
14,461,853.60
968,717.42
66,663.41
19,075.89
(6,285.84)
0.00
1,674,497.73
387,007.29
152,384.05
1,784,631.40
241,438.02
20,442. 19
948,188.51
152,296.82
787,837.03
(55,073.29)
19,040.90
0.00
138,972.47
849,537.69
29,522.67
12,418.00
501,345.77
452,713.78
7,440.11
61,090.08
0.00
0.00
6,218,414.21
344,432.13
0.00
358,067.86
16,134,816.30
45,235,470.50
DEBIT
1,407~514,)2
0.00
0.00
0.00
0.00
441,163.19
441,163.19
5,218.80
2,442.29
42.34
0.00
0.00
10,717.59
13,158.00
0.00
55,087.83
66,412.99
33,185.78
41,265.26
0.00
0.00
0.00
0.00
0.00
0.00
4,000.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
15,030.84
4,317.00
0.00
8,543.00
259,421.72
2,108,099.03
Total Investment:
% Change of
Change In Cash Balance
Ending Cash from Previous
CREDIT CASH Balance Month-End
1,128;774.12 14,9t7;540.60 278;740.QO 2%
0.00 1,003,782.37 0.00 0%
163,687.86 11,114,660.98 (163,687.86) 1%
24,095.97 2,376,998.68 (24,095.97) 1%
0.00 941,162.68 0.00 0%
520,966.16 (1,242,337.91) (79,802.97) 7%
708,749.99 14, 194,266.80 (267,586.SO) 2%
221,354.92 752,581.30 (216,136.12) 22%
0.00 69,105.70 2,442.29 4%
0.00 19,118.23 42.34 0%
3,627.00 (9,912.84) (3,627.00) 58%
0.00 0.00 0.00 0%
26,289.33 1,658,925.99 (15,571.74) 1%
10,849.35 389,315.94 2,308.65 1%
0.00 152,384.05 0.00 0%
0.00 1,839,719.23 55,087.83 3%
0.00 307,851.01 66,412.99 28%
0.00 53,627.97 33,185.78 100%
0.00 989,453.77 41,265.26 4%
4,335.00 147,961.82 (4,335.00) 3%
5,409.00 782,428.03 (5,409.00) 1%
0.00 (55,073.29) 0.00 0%
2,426.77 16,614.13 (2,426.77) 13%
0.00 0.00 0.00 0%
20,000.00 118,972.47 (20,000.00) 14%
811.51 852,726.18 3, 188.49 0%
0.00 29,522.67 0.00 0%
0.00 12,418.00 0.00 0%
820.44 500,525.33 (820.44 0%
0.00 452,713.78 0.00 0%
0.00 7,440. 11 0.00 0%
0.00 61,090.08 0.00 0%
0.00 0.00 0.00 0%
0.00 0.00 0.00 0%
1,573,582.09 4,659,862.96 (1,558,551.25) 25%
2,754.94 345,994. 19 1,562.06 0%
0.00 0.00 0.00 0%
23,029.30 343,581.56 (14,486.30) 4%
1,895,289.65 14,498,948.37 (1,635,867.93) 10%
3,732,813.76 43,610, 755. 77 (1,624,714.73) 4%
43,610,755.77
TREASURIES
BOA TREAS DIRECT
0.00 0.00
0.00 0.00
TOTAL CASH
45,235,470.50
1,667,196.20
0.00
(3,253,679.07)
(39,641.00)
1,409.14
4,414,090.98
(4,414,090.98)
43,610,755.77
YTDINT
RECEIVED
29,382.03
29,382.03
D-3
Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
Issuer of
Investment
Bank of America
State of
California
Acquisition
Date
N/A
N/A
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
NOVEMBER 2013
Term
N/A
NIA
Maturity
Date
Market
Value
On Demand $ 3,662,443
On Demand $ 39,948,313
NOTE(1)
NOTE (2)
Par
Value
N/A
N/A
Book
Value
$ 3,662,443
$ 39,948,313
Total Investment: $ 43,610,756
Yield
0.00%
0.26%
Total Investment Weighted Average Return 0.2%
NOTE:
( 1) See footnote on the summary page
(2) LAIF market values will be reported to vary from book value if the City calculated share of total LAIF assets is less than the
City 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 City investments and complies with the investment policy of the City
of Rancho Palos Verdes as approved by the City Council. Furthermore, I certify that sufficient investment liquidity
and anticipated revenues are available to meet the City's expenditure requirements for the next six months.
Dated "·
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