RPVCCA_CC_SR_2013_07_16_B_Monthly_Cash_BalancesCITY OF
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNC~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY~
JULY 16, 2013
MAY 2013 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER <J!)__
Jane Lin, Accountant
RECOMMENDATION
Receive and file the May 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 May 2013.
ANALYSIS
The overall cash balances of the City totaled $53,787,423 at May 31, 2013. This
represents a $1,880,773 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 $2,725,000 during
the month. The increase was primarily the result of receipt of May p.roperty tax revenue of
$2,809,769 and quarterly franchise fees of $32,521 from Verizon. The May revenue was
B-1
May 2013 Monthly Report of Cash Balances
July 16, 2013
Page 2
offset by normal operating expenditures.
Employee Benefits Fund -The cash balance in this fund decreased by more than
$132,000 during the month. The most significant factor was the City's share of employee
insurance premiums totaling $117,871 for both May and June.
Gas Tax Fund -The cash balance in this fund decreased by more than $160,000 during
the month. The decrease was attributable to disbursements to Hardy & Harper for services
in March and April for roadway rehabilitation in the landslide area, while normal operating
expenditures were disbursed.
Proposition A Fund -The cash balance in this fund increased by more than $54,000 during
the month due to receipt of the May 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.
B-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
OPERATING
3, 142,324.21
4,571, 728.25
(2,246,943.32)
(35,897.36)
3,421.50
(1,911,536.10)
3,523,097.18
(34,002.39)
(1,894.97)
(35,897.36)
(3) The net adjustment was due to 14 void checks.
CASH BALANCES BY FUND
Unrestricted
GI[ ·• .fi,\jj~· •., ,, '.,,<. ,,~<-n
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
S'!IP.tol~f:&f}lit?ii].1Jfiil'1\1:•~t~'' '
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
RPVfV
GINSBURG CULTURE ARTS BUILDING
RECREATION IMPRV DONATION
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
Sub'(61Sl'' li•\• ·
<?~ND;fQ
BALANCE
FORWARD
t@Jilt7<"1!11$1!.;,,, .
1,197,654.32
16,237,358.01
2, 721,920.47
944,752.62
160,493.62
, g~:i'
652,917.19
231,977.26
18,550.60
(7,170.04)
0.00
1,817,189.90
368,503.98
125,943.54
1, 797,843.87
484,627.65
120,335.19
730,551.25
228,539.07
813,977.38
26,906.71
47,487.85
0.00
138,812.47
407,723.71
29,486.67
0.00
498,820.34
441,409.78
7,440.11
54,927.08
0.00
0.00
3,686,585.12
260,888.48
0.00
897,533.13
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
MAY2013
BANKCARD PETTY CASH
0.00 2,500.00
0.00 2,500.00
DEBIT CREDIT
!'. .,,,,ilillli lfgf~~~Qgi~l''~*~W
0.00 877.98
0.00 494,507.47
0.00 19,087.16
0.00 0.00
444,682.68 577,247.01
~~~tm~ V\11. ,.
87,304.39 248, 192.33
31,275.58 0.00
233.51 0.00
0.00 28,508.50
0.00 0.00
59,825.96 55,892.84
4,008.50 10,472.37
0.00 0.00
47,287.39 0.00
57,010.18 2,500.00
0.00 0.00
35,277.65 0.00
27,000.00 46,099.00
0.00 10,816.23
0.00 0.00
5,758.48 6,727.07
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
12,408.00 0.00
15,510.00 12,408.00
7,192.00 0.00
0.00 0.00
2,544.00 0.00
0.00 0.00
0.00 0.00
164,014.79 306,708.11
4,167.00 7,841.56
0.00 0.00
22,878.12 45,627.64
Total Investment:
PAYROLL LAIF-CITY
372,568.91 48,389,257.05
(411,536.09)
411,536.10 1,500,000.00
372,568.92 49,889,257.05
TREASURIES
BOA
0.00
0.00
% Change of
Change In Cash Balance
Ending Cash from Previous
CASH Balance Month-End
I
~·llti\~~l'l1Bfi!!j lfil¥i!fl{i!!illllD:
1, 196, 776.34 (877.98) 0%
15, 7 42,850.54 (494,507.47) 3%
2,702,833.31 (19,087.16) 1%
944,752.62 0.00 0%
27,929.29 (132,564.33) 83%
"' "
492,029.25 (160,887.94) 25%
263,252.84 31,275.58 13%
18,784.11 233.51 1%
(35,678.54) (28,508.50) 100%
0.00 0.00 0%
1,821,123.02 3,933.12 0%
362,040.11 (6,463.87) 2%
125,943.54 0.00 0%
1,845, 131.26 47,287.39 3%
539,137.83 54,510.18 11%
120,335.19 0.00 0%
765,828.90 35,277.65 5%
209,440.07 (19,099.00) 8%
803, 161.15 (10,816.23) 1%
26,906.71 0.00 0%
46,519.26 (968.59) 2%
0.00 0.00 0%
138,812.47 0.00 0%
407,723.71 0.00 0%
29,486.67 0.00 0%
12,408.00 12,408.00 0%
501,922.34 3,102.00 1%
448,601.78 7,192.00 2%
7,440.11 0.00 0%
57,471.08 2,544.00 5%
0.00 0.00 0%
0.00 0.00 0%
3,543,891.80 (142,693.32) 4%
257,213.92 (3,674.56) 1%
0.00 0.00 0%
874 783.61 (22,749.52 3%
53,787,423.15
TREASURIES YTDINT
BOA TREAS DIRECT TOTAL CASH RECEIVED
0.00 0.00 51,906,650.17
4,571,728.25
0.00 105,583.80
(2,658,479.41)
(35,897.36)
3,421.50
1,911,536.10
(1,911,536.10)
0.00 0.00 53,787,423.15 105,583.80
B-3
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
MAY2013
Acquisition Maturity
Date
Market
Value Date Term
NIA NIA On Demand $ 3,898, 166
NIA NIA On Demand $ 49,889,257
NOTE(1}
NOTE(2}
Par
Value
NIA
NIA
Book
Value
$ 3,898,166
$ 49,889,257
Total Investment: $ 53, 787,423
Yield
0.00%
0.25%
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.
Dated
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