RPVCCA_CC_SR_2013_02_05_D_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNC~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY~
FEBRUARY 5,2013
DECEMBER 2012 MONTHLY REPORT OF CASH BALANCES'1
CITY MANAGER ~
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the December 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 both the Redevelopment Agency and
Improvement Authority and is presented under separate cover before their respective
governing bodies.The attached report includes the cash activities ofthe City for the month
of December 2012.
ANALYSIS:
The overall cash balances of the City totaled $46,471,495 at December 31,2012.This
represents a $2,385,955 increase during the month.The overall increase 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).
General Fund -The cash balance in this fund increased by more than $1,964,000 during
the month.The increase was primarily the result of receipt of the December property tax
revenue of $2,268,337.The December revenue was offset by normal operating
expenditures.
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December 2012 Monthly Report of Cash Balances
February 5,2013
Page 2
Gas Tax Fund -The cash balance in this fund decreased by more than $70,000 during the
month.The decrease was primarily due to the fact that the December Highway User Tax
was not received until January,while normal operating expenditures were disbursed.
1972 Act Fund -The cash balance in this fund increased by more than $99,000 during the
month.The increase was due to the result of receipt of the December property tax
apportionment of $99,455.
1911 Act Fund -The cash balance in this fund increased by more than $161,000 during the
month.The increase was due to the result of receipt of the December property tax
apportionment of $189,608.
Proposition A Fund -The cash balance in this fund increased by more than $59,000 during
the month due to receipt ofthe December 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 in August and January.
Public Safety Grants Fund -The cash balance in this fund increased by more than $76,000
during the month.The increase was due to the result of receipt of $76,878 public safety
grants through the December property tax apportionment.
WQ Flood Protection Fund -The cash balance in this fund increased by more than
$261,000 during the month.The increase was due to the result of receipt of $505,867
storm drain user fees through the December property tax apportionment.
Employee Benefits Fund -The cash balance in this fund decreased by more than
$155,000 during the month.The decrease was primarily due to the second half ofFY12-13
prepayment of $85,500 to HSA Bank for the Blue Shield high deductible health plan for the
employees.
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
DECEMBER 2012
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:
CalPers
Postage
Bank and Merchant Fees
OPERATING
395,754.52
4,113,212.42
(1,204,183.82)
(43,192.10)
177.65
(480,058.77)
2,781,709.90
38,774.38
2,500.00
1,917.72
43,192.10
BANKCARD PETTY CASH
0.00 2,500.00
0.00 2,500.00
PAYROLL LAIF-CITY
364,967.46 43,322,318.11
480,058.77
(480,058.77)
364,967.46 43,322,318.11
TREASURIES
BOA
0.00
0.00
TREASURIES YTD INT
BOA TREAS DIRECT TOTAL CASH RECEIVED
0.00 0.00 44,085,540.09
4,593,271.19
0.00
(1,684,242.59)
(43,192.10)
177.65
0.00
(480,058.77)
0.00 0.00 46,471,495.47 0.00
(3)The net adjustment was mainly due to a void check and Pers adjustment.
CASH BALANCES BY FUND
BALANCE
FORWARD DEBIT CREDIT CASH
Change In
Ending Cash
Balance
%Change of
Cash Balance
from Previous
Month-End
GENERAL FUND 9,295,691.76 3,016,147.67 1,051,785.49 11,260,053.94 1,964,362.18 21%
GAS TAX 1,054,004.01 3,395.37 73,457.00 983,942.38 (70,061.63 7%
1972 ACT 15,951.19 99,454.76 0.00 115,405.95 99,454.76 100%
ELPRADO 16,892.38 742.05 0.00 17,634.43 742.05 4%
CDBG 29,449.02 0.00 6,164.50 35,613.52 6,164.50 21%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,538,729.56 189,607.69 27,670.62 1,700,666.63 161,937.07 11%
RECYCLING 1,126,842.21 0.00 877.98 1,125,964.23 (877.98 0%
SOLID WASTE 273,257.00 0.00 7,033.60 266,223.40 (7,033.60 3%
AIR QUALITY MANAGEMENT 101,264.04 12,576.95 0.00 113,840.99 12,576.95 12%
PROPOSITION C 1,570,875.46 49,362.98 0.00 1,620,238.44 49,362.98 3%
PROPOSITION A 154,361.89 59,552.97 0.00 213,914.86 59,552.97 39%
PUBLIC SAFETY GRANTS 20,247.19 76,877.93 0.00 97,125.12 76,877.93 100%
MEASURE R 558,787.91 39,338.23 0.00 598,126.14 39,338.23 7%
HABITAT RESTORATION 247,411.07 0.00 0.00 247,411.07 0.00 0%
SUBREGION 1 MAINTENANCE 825,068.56 0.00 3,228.95 821,839.61 (3,228.95)0%
MEASURE A MAINTENANCE 26,881.71 0.00 0.00 26,881.71 0.00 0%
ABALONE COVE SEWER DISTRICT 23,219.58 19,172.94 3,697.05 38,695.47 15,475.89 67%
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 IMPRV DONATION 407,145.71 0.00 0.00 407,145.71 0.00 0%
CIP 16,743,250.50 13,539.93 55,759.00 16,701,031.43 (42,219.07 0%
QUIMBY 29,444.67 0.00 0.00 29,444.67 0.00 0%
AFFORDABLE HSNG IN LIEU 500,648.19 0.00 0.00 500,648.19 0.00 0%
EET 421,921.51 13,522.27 0.00 435,443.78 13,522.27 3%
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 3,148,006.49 505,867.38 244,779.70 3,409,094.17 261,087.68 8%
EQUIPMENT REPLACEMENT 3,009,658.34 0.00 70,610.16 2,939,048.18 (70,610.16 2%
EMPLOYEE BENEFITS 569,127.46 426,401.80 582,289.93 413,239.33 (155,888.13)27%
BUILDING REPLACEMENT 943,742.43 0.00 0.00 943,742.43 0.00 0%
REDEVELOPMENT OBLIGATION RETIRE 474,619.28 4,176.00 0.00 478,795.28 4,176.00 1%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 871,825.35 8,594.61 25,022.17 855,397.79 (16,427.56 2%
44,085,540.09 4,538,331.53 2,152,376.15 46,471,495.47 2,385,955.38 5%
Total Investment:46,471,495.47
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
DECEMBER 2012
On Demand $43,322,318
On Demand $3,149,177
Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
Issuer of Acquisition
Investment Dale Term
Bank of America N/A N/A
State of
California N/A N/A
Malurity
Date
Markel
Value
NOTE (1)
NOTE (2)
Par
Value
N/A
N/A
Book
Value
$3,149,177
$43,322,318
Yield
0.00%
0.33%
Total Investment:$46,471,495
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 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.
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Dated
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