RPVCCA_CC_SR_2014_06_03_F_City_Monthly_Cash_BalancesCrrYOF RANCHO PALOS VERDES
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCI~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY~
JUNE 3, 2014
APRIL 2014 MONTHLY REPORT OF CASH BALANCES
CITY MANAGE@
Staff Coordinator: Jane Lin, Accountant
RECOMMENDATION
Receive and file the April 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 April 2014.
ANALYSIS
The overall cash balances of the City totaled $51,012,829 at April 30, 2014. This
represents a $2,491,097 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).
F-1
April 2014 Monthly Report of Cash Balances
June 3, 2014
Pag·e 2
CIP Fund -The cash balance in this fund increased by more than $2,300,000 during the
month. The increase was attributed to a $2,272,611 contribution from the General Fund
approved by the City Council on April 1st, 2014. The interfund transfer was derived from
two amounts, which was $1,709,057 from the FY12-13 General Fund expenditure variance
and $563,554 from the general liability insurance rebate.
Gas Tax Fund -The cash balance in this fund increased by more than $52,000 during the
month. The City received both its March and April Highway User Tax payment in April while
normal operating expenditures were disbursed.
1972 Act Fund -The cash balance in this fund increased by more than $62,000 during the
month. The increase was due to the receipt of the April property tax apportionment of
$62,677. Revenue in this fund is typically transferred to the Street Maintenance Fund for
right-of-way maintenance during the fiscal year closing.
1911 Act Fund -The cash balance in this fund increased by more than $154,000 during the
month. The increase was due to the result of receipt of the April property tax
apportionment of $153,880.
Water Quality Flood Protection Fund -The cash balance in this fund increased by more
than $262,000 during the month. The increase was due to the result of receipt of the April
property tax apportionment of $316,924. The revenue the City received was offset by
project disbursements.
F-2
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Cal Pers
Bank and Merchant Fees
Postage
Sales Tax -PVIC Gift Shop
OPERATING
5, 152,283.08
4,338,664.59
(1,403,949.70)
!49,645.76)
' 1,717.70
(3,425,233.61)
4,613,836.30
39,559.40
2,380.36
5,000.00
2,706.00
49,645.76
BANKCARD
0.00
0.00
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
APRIL2014
INVESTMENT
PETTY CASH PAYROLL LAIF..CITY CDARS
2,500.00 391,963.42 41,774,985.23 1,200,000.00
23,347.78
(419,037.63)
425,233.61 3,000,000.00 . 2,500.00 398,159.40 44, 798,333.01 1,200,000.00
(3) The net adjustment was due to non-sufficient check items, void checks, and deposit adjustment.
CASH BALANCES BY FUND
Unrestricted
BALANCE
FORWARD
GENSML;':,r;;!;JND ·:::•,; , ~~;;'.>~tYt::,j)!~X . 1s,1\4!i;2§o:99'
Restricted by Council Action
BEAUTIFICATION FUND 1,004,360.37
CIP 11,303,335.55
EQUIPMENT REPLACEMENT 3,070, 780.40
BUILDING REPLACEMENT 941,705.68
EMPLOYEE BENEFITS (1,713,561.24)
Subtotal / ,·, ; ':'!4;60:tl'i62Q;71$/i ;.
Restricted by Law or External Agencies
GAS TAX 404,214.91
1972ACT 158,709.39
EL PRADO 20,242.50
CDBG (40,800.34)
CDBG-R 0.00
1911 ACT 1, 759,883.12
SOLID WASTE 444,314.98
AIR QUALITY MANAGEMENT 72,767.88
PROPOSITION C 2,043,442.50
PROPOSITION A 302,774.82
PUBLIC SAFETY GRANTS 120,465.19
MEASURER 1, 141,401.69
HABITAT RESTORATION 264,655.82
SUBREGION 1 MAINTENANCE 828,942.93
MEASURE A MAINTENANCE (55,073.29)
ABALONE COVE SEWER DISTRICT 83,378.53
RPVTV 0.00
GINSBURG CULTURE ARTS BUILDING 119,046.47
DONOR RESTRICTED CONTRIBUTIONS 862,600.54
QUIMBY 57,816.85
LOW-MODERATE INCOME HOUSING 12,418.00
AFFORDABLE HSNG IN LIEU 498,152.82
EET 412,783.78
MEASURE A CAPITAL 7,440.11
BIKEWAYS 61,125.08
UNDERGROUND UTILITIES 0.00
ROADWAY BEAUTIFICATION 0.00
WATER QUALITY FLOOD PROTECTION 5,429, 147.72
REDEVELOPMENT OBLIGATION RETIRE 439,493.45
IMPROVEMENT DISTRICT 9 0.00
SPECIAL TRUSTS 320,484.53
Subtotal 15•7 98
GRAND TOTAL 48
DEBIT
! 3,3l/i;l,3o;1~~'
478.00
2,320, 761.10
1,395.00
448.00
456,826.38
:21779.~sAa ·,···.
179,722.20
62,748.99
614.52
20,836.00
0.00
154,735.54
18,480.88
64.00
39,851.51
47,072.91
46.00
29,690.43
79.00
373.00
0.00
12,212.33
0.00
57.00
409.00
16.00
0.00
237.00
200.00
0.00
25,631.00
0.00
0.00
319,197.73
4,368.00
0.00
19,490.00
: '936, 1_33.04
Total Investment:
.% Change of
Change In Cash Balanca
Ending Cash from Previous
CREDIT CASH Balanca Month-End
l31§2f2Ql~!63' ;%17W7a!i;~72,se:; . : ?Hl~i~P§A43) I>><:;· ... ·,;:; .. ·2~·
0.00 1,004,838.37 478.00 0%
13,053.10 13,611,043.55 2,307,708.00 20%
39,011.59 3,033, 163.81 (37,616.59) 1%
0.00 942,153.68 448.00 0%
532,198.33 (1,788,933.19) (75,371.95) 4%
'"P:ill\126$:02 • .~ 6~Q2121a6Nl\12<' 1 bl~W:!l't?i~!iJ,Jm'fi:, :ii.:i:!H>%
127,022.69 456,914.42 52,699.51 13%
0.00 221,458.38 62,748.99 40%
0.00 20,857.02 614.52 3%
1,107.00 (21,071.34) 19,729.00 48%
0.00 0.00 0.00 0%
0.00 1,914,618.66 154,735.54 9%
8,863.27 453,932.59 9,617.61 2%
0.00 72,831.88 64.00 0%
0.00 2,083,294.01 39,851.51 2%
414.70 349,433.03 46,658.21 15%
0.00 120,511.19 46.00 0%
0.00 1,171,092.12 29,690.43 3%
0.00 264,734.82 79.00 0%
51.83 829,264.10 321.17 0%
0.00 (55,073.29) 0.00 0%
19,474.90 76,115.96 (7,262.57) 9%
0.00 0.00 0.00 0%
0.00 119,103.47 57.00 0%
0.00 863,009.54 409.00 0%
0.00 57,832.85 16.00 0%
0.00 12,418.00 0.00 0%
1,112.94 497,276.88 (875.94) 0%
0.00 412,983.78 200.00 0%
0.00 7,440.11 0.00 0%
0.00 86,756.08 25,631.00 42%
0.00 0.00 0.00 0%
0.00 0.00 0.00 0%
56,307.01 5,692,038.44 262,890.72 5%
9,590.00 434,271.45 (5,222.00) 1%
0.00 0.00 0.00 0%
6,828.75 333145.78 12,661.25 4%
. 4%
5%
51,012,828.71
TREASURIES
BOA TREAS DIRECT
0.00 0.00
0.00 0.00
TOTAL CASH
48,521, 731. 73
4,338,664.59
23,347.78
(1,822,987.33)
(49,645.76)
1,717.70
3,425,233.61
(3,425,233.61)
51,012,828.71
YTDINT
RECEIVED
56,054.46
56,054.46
F-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 12/2612013
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
APRIL2014
Maturity Markel
Term Date Value
NIA On Demand $ 5,014,496
NIA On Demand $ 44,798,333
26weeks 612312014 250,000
26weeks 612312014 244,500
26weeks 612312014 244,500
26weeks 612312014 105,945
26weeks 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) 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.
Book
Value Yield
$ 5,014,496 0.00%
$ 44,798,333 0.23%
$ 250,000 0.35%
$ 244,500 0.25%
$ 244,500 0.25%
$ 105,945 0.25%
$ 110,555 0.25%
$ 244,500 0.25%
$ 51,012,829
0.2%
Dated
F-4