RPVCCA_CC_SR_2013_01_15_F_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:HONORABLE MAYOR AND MEMBERS OF THE CITY COUN~
FROM:DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG~
DATE:JANUARY 15,2013
SUBJECT:NOVEMBER 2012 MONTHLY REPORT OF CASH BALANCES
REVIEWED:CITY MANAGER cQ.
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the November 2012 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 2012.
ANALYSIS:
The overall cash balances of the City totaled $44,085,540 at November 30,2012.This
represents an $802,754 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 (generally defined as
more than $50,000 and 5%of the cash balance in a particular fund).
Gas Tax Fund -The cash balance in this fund decreased by more than $66,000 during the
month.The decrease was attributable to November disbursements for two months of
services to a few vendors for normal operating expense.
Proposition A Fund -The cash balance in this fund decreased by more than $225,000
F-1
November 2012 Monthly Report of Cash Balances
January 15,2013
Page 2
during the month due to the disbursement of the City's contribution of $284,781 to the
Palos Verdes Transit Authority for the six months ending December 2012.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.
Measure A Maintenance Fund -The cash balance in this fund increased by $100,000
during the month.The City received a reimbursement of $1 00,000 from the County for the
FY11-12 park-site maintenance services in the Portuguese Bend Nature Preserve,Lower
Hesse Park,and PVIC.
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $208,000 during the month mainly due to disbursements of $184,205 to MG
Enterprises and $20,140 to Merit Civil Engineering for the Miraleste storm drain
improvem'ent project.
Employee Benefits Fund -The cash balance in this fund decreased by more than
$237,000 during the month.The decrease was primarily due to the year 2013 prepayment
of $177,000 to HSA Bank for the Blue Shield high deductible health plan for the
employees.
Redevelopment Obligation Retirement Fund -The cash balance in this fund decrease
more than $106,000 during the month.Pursuant to the Low and Moderate Income Housing
Fund Due Diligence Review,the Successor Agency was required to remit $103,500 of
unencumbered cash to the County of Los Angeles for distribution to the taxing entities.
F-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
OPERATING
1,198,508,72
1,745,454.41
(2,121,703,12)
(39,138.40)
7,173,99
(394,541,08)
395,754.52
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
NOVEMBER 2012
TREASURIES TREASURIES
BANKCARD PETTY CASH PAYROLL LAIF·CITY BOA BOA TREAS DIRECT TOTAL CASH
0,00 2,500,00 364,967.43 43,322,318,11 0,00 0,00 0,00 44,888,294,26
394,541,12 2,139,995,53
0,00
(394,541,09)(2,516,244,21)
(39,138.40)
7,173,99
0,00
(394,541,08)
0,00 2,500,00 364,967.46 43,322,318,11 0,00 0,00 0,00 44,085,540,09
YTD INT
RECEIVED
0,00
(1)All LAIF interest is paid quarterly,
(2)Electronic Disbursements:
CalPers
Postage
Bank and Merchant Fees
33,541,42
2,500.00
3,096.98
39,138.40
(3)The net adjustment:
Eight Void Checks
Non-Sufficient Check
Misc Items
7,368,91
(581,92)
387,00
7,173.99
OYo
%Change of
Cash Balance
from Previous
Month End
Change In
Ending Cash
BalanceCASHCREDITDEBIT
BALANCE
FORWARDCASHBALANCESBYFUND -
GENERAL FUND 9,250,398,55 1,331,099,80 1,285,806,59 9,295,691.76 45,293,21 0%
GAS TAX 1,120,445.41 56,816.08 123,257.48 1,054,004.01 (66,441.40 6%
1972 ACT 14,026,36 1,924.83 0,00 15,951.19 1,924.83 14%
ELPRADO 16,851,81 40.57 0,00 16,892.38 40,57 0%
CDBG (22,332,03)13,322.00 20,438,99 (29,449.02)(7,116.99)32%
CDBG-R 0,00 0,00 0,00 0,00 0,00 0%
1911 ACT 1,555,375,13 10,361,21 27,006,78 1,538,729,56 (16,645.57)1%
RECYCLING 1,123,720,19 4,000.00 877.98 1,126,842,21 3,122.02 0%
SOLID WASTE 276,339,59 8,194.37 11,276,96 273,257.00 (3,082.59)1%
AIR QUALITY MANAGEMENT 101,264,04 0,00 0,00 101,264,04 0,00 0%
PROPOSITION C 1,520,931,79 49,943.67 0,00 1,570,875.46 49,943.67 3%
PROPOSITION A 379,448,23 60,195,77 285,282,11 154,361.89 (225,086.34)59%
PUBLIC SAFETY GRANTS 20,247,19 0,00 0,00 20,247,19 0,00 0%
Mi=ASURE R 521,888.42 36,899.49 0,00 558,787,91 36,899.49 7%
HABITAT RESTORATION 279,922.40 238,67 32,750,00 247,411,07 (32,511,33)12%
SUBREGION 1 MAINTENANCE 830,355,86 0,00 5,287,30 825,068,56 (5,287,30)1%
MEASURE A MAINTENANCE (73,118,29)100,000,00 0,00 26,881,71 100,000,00 100%
ABALONE COVE SEWER DISTRICT 35,063,36 285.57 12,129.35 23,219.58 (11,843,78 34%
RPVTV 0,00 0.00 0,00 0,00 0,00 0%
GINSBURG CULTURE ARTS BUILDING 138,612.47 0,00 0,00 138,612.47 0.00 0%
RECREATION Irv1PRV DONATION 407,145,71 0,00 0,00 407,145,71 0,00 0%
CIP 16,814,245,57 26,468,00 97,463,07 16,743,250,50 (70,995,07)0%
QUIMBY 29,444,67 0,00 0,00 29,444,67 0,00 0%
AFFORDABLE HSNG IN LIEU 500,681,70 0,00 33,51 500,648,19 (33,51)0%
EET 421,921,51 0,00 0,00 421,921,51 0,00 0%
MEASURE A CAPITAL 7,440,11 0,00 0,00 7,440,11 0,00 0%
BIKEWAYS 61.08 0,00 0,00 61,08 0,00 0%
UNDERGROUND UTILITIES 0.00 0.00 0,00 0,00 0,00 0%
ROADWAY BEAUTIFICATION 0,00 0,00 0,00 0,00 0,00 0%
WATER QUALITY FLOOD PROTECTION 3,356,099,65 24,568.42 232,661,58 3,148,006.49 (208,093,16)6%
EQUIPMENT REPLACEMENT 3,049,111,76 0,00 39,453.42 3,009,658,34 (39,453.42)1%
EMPLOYEE BENEFITS 806,733,52 426,353,99 663,960,05 569,127.46 (237,606,06)29%
BUILDING REPLACEMENT 943,742.43 0,00 0.00 943,742.43 0,00 0%
REDEVELOPMENT OBLIGATION RETIRE 581,498.05 4,167,00 111,045,77 474,619,28 (106,878,77 18%
IMPROVEMENT DISTRICT 9 0,00 0,00 0,00 0,00 0,00 0%
SPECIAL TRUSTS 880,728,02 25,869.82 34,772.49 871,825,35 (8,902,67)1%
44,888,294,26 2,180,749,26 2,983,503.43 44,085,540,09 (802,754.17)2%
0
Total Investment:44,085,540,09
F-3
$43,322,318
Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
NOVEMBER 2012
Issuer of Acquisition Maturity Market
Investment Oste Term Date Value
Bank of America N/A N/A On Demand $763,222
State of
California N/A N/A On Demand $43,322,318
NOTE (1)
NOTE (2)
Par
Value
N/A
N/A
$
Book
Value
763,222
Yield
0,00%
0,32%
Total Investment:$44,085,540
Total Investment Weighted Average Return 0,3%
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 polley 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,
~'Ofu:~d_~__1-2-1=1
Treasurer ~--------£....s....I=-D!!'a~t-e":'d---
F-4