RPVCCA_CC_SR_2013_04_02_C_Monthly_Cash_BalancesCITY OF
MEMORANDUM
4o RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEW!=D:
Staff Coordinator:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY/1\~'f)wJ
APRIL 2,2013 l£...1 J U-
FEBRUARY 2013 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER@>~<:.\.-
Jane Lin,Accountant
RECOMMENDATION
Receive and file the February 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 February 2013.
ANALYSIS
The overall cash balances of the City totaled $50,254,829 at February 28,2013.This
represents a $223,833 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).
Gas Tax Fund -The cash balance in this fund decreased by more than $169,000 during
the month.The decrease was primarily due to the fact that the February Highway User Tax
was not received until March,while normal operating expenditures were disbursed.
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February 2013 Monthly Report of Cash Balances
April 2,2013
Page 2
CDBG Fund -The cash balance in this fund decreased by more than $58,000.Because
CDBG cash receipts result from reimbursements of prior months'expenditures,it is
common to have a timing difference between cash receipts and expenditures for any given
month.The fund received reimbursements from the Community Development Commission
in March.
Proposition A Fund -The cash balance in this fund increased by more than $121,000
during the month due to receipt of the March Proposition A apportionment and receipt of
$60,000 from City of Rolling Hills.During the City Council meeting on September 4,2012,
the City Council approved the purchase of City of Rolling Hills'Proposition A funds at the
cost of $45,000 (exchange rate of $0.75 per dollar).
Employee Benefits Fund -The cash balance in this fund decreased by more than $66,000
during the month.The most significant factor was the City's share of employee insurance
premiums totaling $59,378.
W\CASH$$\Treasurer's Report\FY2012-2013\20130402-Feb2013cily.doc
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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
3,298,463.87
2,179,556.63
(1,513,845.64)
(38,968.97)
(901.44)
(402,007.42)
3,522,297.03
33,374.07
2,500.00
3,094.90
38,968.97
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
FEBRUARY 2013
TREASURIES TREASURIES
BANKCARD PEnYCASH PAYROLL LAIF-CITY BOA BOA TREAS DIRECT TOTAL CASH
0.00 2,500.00 372,568.93 46,357,462.78 0.00 0.00 0.00 50,030,995.58
401,865.13 2,581,421.76
0.00
(401,865.13)(1,915,710.77)
(38,968.97)
(901.44)
0.00
(402,007.42)
0.00 2,500.00 372,568.93 46,357,462.78 0.00 0.00 0.00 50,254,828.74
YTD INT
RECEIVED
73,789.53
73,789.53
(3)The net adjustment was due to non-,sufflcient check items and other 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 14,340,282.54 1,627,594.94 1,260,222.75 14,707,654.73 367,372.19 3%
GAS TAX 1,042,077.52 2,910.02 172,469.62 872,517.92 (169,559.60)16%
1972 ACT 141,323.09 33,777.62 0.00 175,100.71 33,777.62 24%
ELPRADO 17,849.03 129.08 0.00 17,978.11 129.08 1%
CDBG (35,613.52)11,568.00 70,552.75 (94,598.27) (58,984.75)100%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,726,001.95 32,963.00 29,620.62 1,729,344.33 3,342.38 0%
RECYCLING 1,195,965.25 4,000.00 877.98 1,199,087.27 3,122.02 0%
SOLID WASTE 303,855.75 34,946.97 7,312.32 331,490.40 27,634.65 9%
AIR QUALITY MANAGEMENT 114,187.79 0.00 0.00 114,187.79 0.00 0%
PROPOSITION C 1,659,888.55 51,107.67 0.00 1,710,996.22 51,107.67 3%
PROPOSITION A 259,968.83 121,614.38 0.00 381,583.21 121,614.38 47%
PUBLIC SAFETY GRANTS 97,150.12 0.00 0.00 97,150.12 0.00 0%
MEASURE R 627,260.56 37,978.09 0.00 665,238.65 37,978.09 6%
HABITAT RESTORATION 247,608.07 0.00 32,750.00 214,858.07 (32,750.00)13%
SUBREGION 1 MAINTENANCE 820,840.41 0.00 2,678.06 818,162.35 (2,678.06)0%
MEASURE A MAINTENANCE 26,888.71 0.00 0.00 26,888.71 0.00 0%
ABALONE COVE SEWER DISTRICT 42,589.01 4,973.46 6,648.68 40,913.79 (1,675.22)4%
RPVTV 0.00 0.00 0.00 0.00 0.00 0%
GINSBURG CULTURE ARTS BUILDING 138,722.47 0.00 0.00 138,722.47 0.00 0%
RECREATION IMPRV DONATION 407,462.71 0.00 0.00 407,462.71 0.00 0%
CIP 16,675,435.99 0.00 83,564.25 16,591,871.74 (83,564.25 1%
QUIMBY 29,468.67 0.00 0.00 29,468.67 0.00 0%
AFFORDABLE HSNG IN LIEU 499,319.78 0.00 0.00 499,319.78 0.00 0%
EET 435,774.78 1,759.00 0.00 437,533.78 1,759.00 0%
MEASURE A CAPITAL 7,440.11 0.00 0.00 7,440.11 0.00 0%
BIKEWAYS 61.08 9,750.00 0.00 9,811.08 9,750.00 100%
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 3,514,693.54 169,276.95 130,329.55 3,553,640.94 38,947.40 1%
EQUIPMENT REPLACEMENT 2,934,573.94 0.00 57,574.21 2,876,999.73 (57,574.21)2%
EMPLOYEE BENEFITS 357,745.41 434,076.16 500,397.94 291,423.63 (66,321.78)19%
BUILDING REPLACEMENT 944,478.43 0.00 0.00 944,478.43 0.00 0%
REDEVELOPMENT OBLIGATION RETIRE 582,144.24 0,00 7,986.05 574,158.19 (7,986.05)1%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 875,550.77 34,672.44 26,279.84 883,943.37 8,392.60 1%
50,030,995.58 2,613,097.78 2,389,264.62 50,254,828.74 223,833.16 0%
Total Investment:50,254,828.74
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
FEBRUARY 2013
On Demand $3,897,366
On Demand $46,357,463
Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
Issuer of Acquisition
Investment Date Term
Bank of America N/A N/A
State of
California N/A N/A
Maturity
Date
Market
Value
NOTE (1)
NOTE (2)
Par
Value
N/A
N/A
Book
Value
$3,897,366
$46,357,463
Yield
0.00%
0.29%
Total Investment:$50,254,829
Total Investment Weighted Average Return 0.3%
NOTE:
(1)See footnote on the summary page
(2)LAIF market vaiues 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 Paios 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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