RPVCCA_CC_SR_2014_03_04_E_City_Monthly_Cash_BalancesRANCHO PALOS VERDES
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCI~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY~
MARCH 4, 2014
JANUARY 2014 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER@
Staff Coordinator: Jane Lin, Accountant
RECOMMENDATION
Receive and file the January 2014 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 January 2014.
ANALYSIS
The overall cash balances of the City totaled $48, 112,891 at January 31, 2014. This
represents a $4,773,343 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
E-1
January 2014 Monthly Report of Cash Balances
March 4, 2014
Page 2
$50,000 and 5% of the cash balance in a particular fund).
General Fund -The cash balance in this fund increased by more than $2,857,250 during
the month. The increase was primarily the result of receipt of the January property tax
revenue of $2,899,413. The January revenue was offset by normal operating expenditures.
Equipment Replacement Fund -The cash balance in this fund increased by more than
$696,000 during the month. The increase was primarily due to a fund transfer of $731,000
from General Fund to this fund for the annual usage of computer equipment, vehicles, and
other equipment in accordance with FY13-14 budget.
Employee Benefits Fund -The cash balance in this fund decreased by more than $73,000
during the· month. The most significant factor of decrease was the disbursements for the
City's share of employee insurance premiums totaling $60,479.
Proposition A Fund -The cash balance in this fund increased by more than $50,000 during
the month due to receipt of the January 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.
Water Quality Flood Protection Fund -The cash balance in this fund increased by more
than $1,474,000 during the month. The City received a reimbursement of $2,423,990 from
the State for the Proposition 1 E Stormwater Flood Management program for the San
Ramon Canyon Stabilization project for the quarter ended September 2013. The City also
received $132,606 the storm drain user fee with January property tax. The disbursements
included $946,866 to L. H. Woods & Sons and $62,380 to Sancon Engineering, Inc. forthe
San Ramon Canyon Stabilization project. The revenue the City received was partially offset
by the disbursement.
Redevelopment Obligation Retirement Fund -The cash balance in this fund increased by
more than $88,000 during the month mainly due to receipt of $86,472 from Los Angeles
County for the Successor Agency's Redevelopment Property Tax Trust Fund distribution.
E-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
Postage
Bank and Merchant Fees
OPERATING
2,843,434.84
7,392,375.98
(2,017,478.87)
(58,824.04)
576.84
(3,416,631.43)
4, 7 43,453.32
53,752.55
2,500.00
2,571.49
58,824.04
BANKCARD
0.00
0.00
(3) The net adjustment was due to n~n-sufficient check items and two void checks.
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
16,669,088.67
1, 003, 782. 37
9,903,494.05
2,351,064.08
941,162.68
(1,483, 104.45)
i2:71e,s9e.7s.,
673,114.22
168,598.61
19,896.91
(3,746.84)
0.00
1,830,006.61
423,835.83
165,862.24
1,890,122.02
368,596.36
72,667.72
1,026,635.05
147,961.82
775,976.88
(55,073.29)
32,174.76
0.00
118,972.47
852,424.49
29,522.67
12,418.00
499,704.89
459,905.78
7,440.11
61,090.08
0.00
0.00
3, 725,549. 78
347,669.49
0.00
342,733.99
13,994,060.e5
43,379,548.05
DEBIT
4,562,281.56 .
578.00
6,352.00
732,678.00
543.00
666,726.08
1,406,87'7.08
87,392.08
25,941.75
225.91
3,627.00
0.00
55,328.79
7,739.31
90.00
42,739.23
50,424.89
14,615.01
31,732.64
89.00
451.00
0.00
5,520.32
0.00
74.00
490.00
18.00
0.00
288.00
3,878.00
0.00
35.00
0.00
0.00
2,559,955.20
90,840.66
0.00
11,466.30
2,992,962.09
8,962,120.73
Total Investment:
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
JANUARY 2014
INVESTMENT
PETTY CASH PAYROLL LAIF..CITY CDARS
2,500.00 585,300.41 38,748,312.80 1,200,000.00
26,672.43
(609,979. 78)
416,631.43 3,000,000.00
2,500.00 391,952.06 41,774,985.23 1,200,000.00
% Change of
Change In Cash Balance
Ending Cash from Previous
CREDIT CASH Balance Month-End
·no.;;,a31;45 :i.9,5;?\'>,338,?8 2,857,250.11 17'.%
0.00 1,004,360.37 578.00 0%
227,564.03 9,682,282.02 (221,212.03) 2%
36,644.30 3,047,097.78 696,033.70 30%
0.00 941,705.68 543.00 0%
739,771.00 (1,556,149.37) (73,044.92) 5%
1 003,979.33 13;1.19,296.46 402,897.75 3%
127,954.46 632,551.84 (40,562.38) 6%
64,800.00 129,740.36 (38,858.25) 23%
0.00 20,122.82 225.91 1%
1,120.00 (1,239.84) 2,507.00 67%
0.00 0.00 0.00 0%
102,915.68 1,782,419.72 (47,586.89) 3%
19,274.67 412,300.47 (11,535.36) 3%
0.00 165,952.24 90.00 0%
0.00 1,932,861.25 42,739.23 2%
0.00 419,021.25 50,424.89 14%
0.00 87,282.73 14,615.01 20%
0.00 1,058,367.69 31,732.64 3%
0.00 148,050.82 89.00 0%
2,511.90 773,915.98 (2,060.90) 0%
0.00 (55,073.29) 0.00 0%
4,213.41 33,481.67 1,306.91 4%
0.00 0.00 0.00 0%
0.00 119,046.47 74.00 0%
0.00 852,914.49 490.00 0%
29,000.00 540.67 (28,982.00) 98%
0.00 12,418.00 0.00 0%
25.34 499,967.55 262.66 0%
51,000.00 412,783.78 (47, 122.00) 10%
0.00 7,440.11 0.00 0%
0.00 61,125.08 35.00 0%
0.00 0.00 0.00 0%
0.00 0.00 0.00 0%
1,085, 772. 78 5, 199, 732.20 1,47 4, 182.42 40%
2,423.70 436,086.45 88,416.96 25%
0.00 0.00 0.00 0%
28,755.45 325,444.84 (17,289.15) 5%
1,519,767.39 15,467,255.35 1,473,194.70 11%
4,228,778.17 . 48, 112,890.61 4, 733,342.56 11%
48, 112,890.61
TREASURIES
BOA TREAS DIRECT
0.00 0.00
0.00 0.00
TOTAL CASH
43,379,548.05
7,392,375.98
26,672.43
(2,627,458.65)
(58,824.04)
576.84
3,416,631.43
(3,416,631.43)
48, 112,890.61
YTD INT
RECEIVED
56,054.46
56,054.46
E-3
Issuer of Acquisition
Investment Investment Date
Checking Accounts Bank of America NIA
State of
Local Agency Investment Fund (LAIF) California NIA
CDARS -Malaga Bank Malaga Bank 1212612013
Century Bank &
Trust Company 1212612013
Ever Bank 1212612013
First Foundation
Bank 1212612013
Meridian Bnak 1212612013
Western
Alliance Bank 1212612013
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
JANUARY 2014
Maturity Market
Term Date Value
NIA On Demand $ 5,137,905
NIA On Demand $ 41,774,985
26weeks 612312014 250,000
26weeks 612312014 244,500
26 weeks 612312014 244,500
26 weeks 612312014 105,945
26 weeks 612312014 $ 110,555
26weeks 612312014 $ 244,500
Total Investment:
Par
Value
NOTE(1) NIA
NOTE (2) NIA
Total Investment Weighted Average Return
NOTE:
( 1 ) See footnote on the summary page
(2) Lfl.>IF 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.
Book
Value Yield
$ 5,137,905 0.00%
$ 41,774,985 0.24%
$ 250,000 0.35%
$ 244,500 0.25%
$ 244,500 0.25%
$ 105,945 0.25%
$ 110,555 0.25%
$ 244,500 0.25%
$ 48,112,891
0.2%
Dated
E-4