RPVCCA_IA_SR_2013_02_05_02_Monthly_Cash_BalancesHONORABLE CHAIR AND MEMBERS OF THE COMMISSIO&
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG
FEBRUARY 5,2013
DECEMBER 2012 MONTHLY REPORT OF CASH BALANCES
l
CHIEF ADMINISTRATIVE OFFICER 0-l_.,
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
RANCHO PALOS VERDES
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the December 2012 Monthly Report of Cash Balances for the Rancho
Palos Verdes Improvement Authority.
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
separately prepare a monthly cash balance report for the Improvement Authority and the
City.This report summarizes the cash activity associated with all funds of the
Improvement Authority.
ANALYSIS:
The cash balances of the Improvement Authority decreased by $62,291 during the month,
ending with an overall balance of $1,543,158 at December 31,2012.The decrease was
due to disbursements to Southern California Edison for the utility bills and ACLAD for the
dewatering well activities.
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RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
DECEMBER 2012
Issuer of Acquisition Maturity Market Book Current
Investment Investment Date Date Value Value Yield
Checking Accounts Bank of America N/A On Demand $1,541,843 $1,541,843 None
Local Agency Investment
Fund State ofCA N/A On Demand $1,315 $1,315 0.33%
NOTE (1)NOTE (2)
Total Investment:$1,543,158
Total Investment Weighted Average Return 0.00%
BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS"
LESS:CHECKS
ADJUSTMENTS
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
ENDING BALANCE
"All interest (LAIF)is paid quarterly.
CASH BALANCES BY FUND
IA -ABALONE COVE MAINT
IA·PORTUGUESE BEND MAINT
OPERATING
1,604,134.69
(62,291.45)
1,541 ,843.24
BALANCE
FORWARD
1,194;580.93
410,868.50
1,605,449.43
LAIF-RDA
1,314.74
1,314.74
DEBIT
0.00
0.00
0.00
TOTAL CASH
1,605,449.43
0.00
0.00
(62,291.45)
0.00
0.00
0.00
1,543,157.98
CREDIT
61,866.47
424.98
62,291.45
YTDINTEREST
RECEIVED
1.65
1.65
ENDING
CASH
1,132,714.46
410,443.52
1,543,157.98
Change In
Ending Cash
Balance
(61,866.47)
(424.98)
(62,291.45)
%Change of
Cash Balance
from Previous
Month-End
·5%
0%
-4%
Total Investment:1,543,157.98
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.
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