RPVCCA_CC_SR_2013_06_04_N_Monthly_Cash_BalancesCITY OF
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEW!=D:
Staff Coordinator:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNC~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGV!
JUNE 4, 2013
APRIL 2013 MONT~~y REP. ORT OF CASH BALANCES
CITY MANAGER (!>(__
Jane Lin, Accountant
RECOMMENDATION
Receive and file the April 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 April 2013.
ANALYSIS
The overall cash balances of the City totaled $51,906,650 at April 30, 2013. This
represents a $2,338,274 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 $2, 134,000 during
the month. The increase was primarily the result of receipt of April property tax revenue of
$1,684,426, annual franchise fees of $329, 135 from Southern California Edison, and
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April 2013 Monthly Report of Cash Balances
June 4, 2013
Page 2
annual franchise fees of $113,321 from Southern California Gas Company. The April
revenue was offset by normal operating expenditures.
Gas Tax Fund -The cash balance in this fund decreased by more than $55,000 during
the month. The City received both March and April Highway User Tax in April. The
decrease was attributable to the large disbursements to Hardy & Harper for roadway
rehabilitation in the landslide area, while normal operating expenditures were disbursed.
1972 Act Fund -The cash balance in this fund increased by more than $58,000 during the
month. The increase was due to the result of receipt of the April property assessment
distribution of $58, 176.
CDBG Fund -The cash balance in this fund increased by more than $108,000. 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 City received reimbursements from the Community Development Commission
in April.
1911 Act Fund -The cash balance in this fund increased by more than $113,000 during the
month. The increase was due to the result of receipt of the April property assessment
distribution of $141 ,757.
WQ Flood Protection Fund -The cash balance in this fund increased by more than
$245,000 during the month. The increase was due to the result of receipt of $281, 148
storm drain user fees through the April property tax roll apportionment.
Equipment Replacement Fund -The cash balance in this fund decreased by more than
$136,000 during the month. The decrease was primarily due to two large disbursements of
$80,681 to Dell Marketing for purchase of sixty-five new personal computers.
Employee Benefits Fund -The cash balance in this fund decreased by more than $64,000
during the month. The most significant factor was the City's share of employee insurance
premiums totaling $59,768.
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BEGINNING BALANCE
PtUS: 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 inlerest is paid quarterly
(2) Electronic Disbursements
Cal Pers
Postage
Bank and Merchant Fees
Sales Tax· PVIC Gift Shop
OPERATING
2,835,844.56
4,220,930.68
31,794.27
(1,455,973.77)
272.99
(41,568.11)
(2,417, 182.14)
3,174,118.48
33,633.67
2,500.00
2,721.44
2,713.00
41,568.11
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
APRIL 2013
BANKCARD PETTY CASH PAYROLL LAIF-CITY
0.00 2,500.00 372,568.91 46,357,462.78
(417,182.14)
417, 182.14 2,000,000.00
0.00 2,500.00 372,568.91 48,357,462.78
TREASURIES
BOA
0.00
0.00
(3) The net adjustment was due to a void check and a depoist adjustment.
CASH BALANCES BY FUND
GENERAL FUND
GAS TAX
1972 ACT
EL PRADO
CDBG
CDBG-R
1911 ACT
RECYCLING
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
RECREATION IMPRV DONATION
CIP
QUIMBY
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICATION
WATER QUALITY FLOOD PROTECTION
EQUIPMENT REPLACEMENT
EMPLOYEE BENEFITS
BUILDING REPLACEMENT
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
BALANCE
FORWARD
14,628, 134.96
708,456.35
173,700.71
17,983.85
(115,423.54)
0.00
1, 703,430.61
1,197,770.30
363,314.35
125,869.54
1, 758,350.84
438,625.88
97,150.12
701,665.16
214,858.07
815,761.49
26,888.71
39,660.17
0.00
138,722.47
407,462.71
16,490,618.46
29,468.67
498,499.34
437,533.78
7,440.11
50,839.08
0.00
0.00
3,441,555.68
2,858,535.21
224,840.35
944,478.43
258,490.25
0.00
883,694.14
49,568,376.25
DEBIT CREDIT
3,270,274.41 1,135,746.53
145,526.30 201,065.46
58,276.55 0.00
566.75 0.00
112,398.50 4, 145.00
0.00 0.00
142,861.93 29,102.64
762.00 877.98
17,823.07 12,633.44
74.00 0.00
39,493.03 0.00
46,513.18 511.41
23, 185.07 0.00
28,886.09 0.00
13,681.00 0.00
526.00 2,310.11
18.00 0.00
11,898.79 4,071.11
0.00 0.00
90.00 0.00
261.00 0.00
10,676.00 263,936.45
18.00 0.00
321.00 0.00
3,876.00 0.00
0.00 0.00
4,088.00 0.00
0.00 0.00
0.00 0.00
283,393.57 38,364.13
1,864.00 138,478.74
450,868.89 515,215.62
607.00 332.81
4,493.00 2,094.77
0.00 0.00
45,981.04 32, 142.05
4,719,302.17 2,381,028.25
Total Investment:
% Change of
Change In Cash Balance
Ending Cash from Previous
CASH Balance Month-End
16,762,662.84 2,134,527.88 15%
652,917.19 (55,539.16) 8%
231,977.26 58,276.55 34%
18,550.60 566.75 3%
(7,170.04) 108,253.50 94%
0.00 0.00 0%
1,817,189.90 113,759.29 7%
1, 197,654.32 (115.98) 0%
368,503.98 5,189.63 1%
125,94M4 74.00 0%
1,797,843.87 39,493.03 2%
484,627.65 46,001.77 10%
120,335.19 23,185.07 24%
730,551.25 28,886.09 4%
228,539.07 13,681.00 6%
813,977.38 (1,784.11) 0%
26,906.71 18.00 0%
47,487.85 7,827.68 20%
0.00 0.00 0%
138,812.47 90.00 0%
407,723.71 261.00 0%
16,237,358.01 (253,260.45) 2%
29,486.67 18.00 0%
498,820.34 321.00 0%
441,409.78 3,876.00 1%
7,440.11 0.00 0%
54,927.08 4,088.00 8%
0.00 0.00 0%
0.00 0.00 0%
3,686,585.12 245,029.44 7%
2,721,920.47 (136,614.74) 5%
160,493.62 (64,346.73) 29%
944,752.62 274.19 0%
260,888.48 2,398.23 1%
0.00 0.00 0%
897,533.13 13,838.99 2%
51,906,650.17 2,338,273.92 5%
51,906,650.17
TREASURIES YTD INT
BOA TREAS DIRECT TOTAL CASH RECEIVED
0.00 0.00 49,568,376.25
4,220,930.68
31,794.27 73,789.53
(1,873,155.91)
272.99
(41,568.11)
2,417,182.14
(2,417,182.14)
0.00 0.00 51,906,650.17 73,789.53
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Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
Issuer of
Investment
Bank of America
State of
California
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
APRIL 2013
Acquisition
Date Term
Maturity
Date
Market
Value
NIA NIA On Demand $ 3,549, 187
NIA NIA On Demand $ 48,357,463
NOTE (1)
NOTE (2)
Par
Value
NIA
NIA
Book
Value
$ 3,549.187
$ 48,357,463
Total Investment: $ 51,906,650
Yield
0.00%
0.26%
Total Investment Weighted Average Return 0.2%
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.
Respectfully submitted,
Treasurer Dated
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