RPVCCA_CC_SR_2013_08_06_C_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~
AUGUST 6, 2013
JUNE 2013 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER of)__,
Jane Lin, Accountant
RECOMMENDATION
Receive and file the June 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 June 2013.
ANALYSIS
The overall cash balances of the City totaled $52,575,796 at June 30, 2013. This
represents a $1,211,627 decrease during the month. The overall decrease 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).
Proposition A Fund -The cash balance in this fund increased by more than $62,000 during
the month due to receipt of the June Proposition A apportionment. The Proposition A fund
pays for the Palos Verdes Peninsula Transit Authority contribution. Disbursements for the
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June 2013 Monthly Report of Cash Balances
August 6, 2013
Page 2
contributions are only made twice per year in August and January.
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $1 ,003,000 during the month mainly due to a large disbursement of $783,273 to L. H.
Woods & Sons for the San Ramon Canyon Stabilization project. Other disbursements
including $84, 136 to Sancen Engineering, $42, 125 to CBM Consulting, $31 ,991 to MG
Enterprises, $20,250 to SFC Consultants, and $16,905 to Hardy & Harper were for the
storm drain rehabilitation and lining project.
Redevelopment Obligation Retirement Fund -The cash balance in this fund increased by
more than $168,000 during the month mainly due to receipt of $174,854 from Los Angeles
County for the Successor Agency's Redevelopment Property Tax Trust Fund distribution.
The fund is distributed twice a year, which are in January and June.
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BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Cal Pers
Postage
Bank and Merchant Fees
OPERATING
3,523,097.18
1,827,283.47
(2,583,011.37)
(38,737.30)
(1,034.77)
(416,126.71)
2,311,470.50
(33,800.43)
(2,500.00)
(2,436.87)
(38,737.30)
BANKCARD
0.00
0.00
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
JUNE 2013
TREASURIES
PETTY CASH PAYROLL LAIF-CITY BOA
2,500.00 372,568.92 49,889,257.05 0.00
(416,126.71)
0.01
416,126.71
2,500.00 372,568.93 49,889,257.05 0.00
(3) The net adjustment was due to non;sufficient check items and other adjustment.
CASH BALANCES BY FUND
Unrestricted
:G.E°NEAA~;Fl;JNDl::•.• ,,.:· :..: <:·;. '·
Restricted by Council Action
BEAUTIFICATION FUND
GIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
.S~bt<?t;lf,,,, : · ·(.: ........ •. "'·"'·"·• .• r:::· .. :.;-.•
Restricted by Law or External Aaencies
GAS TAX
1972 ACT
EL PRADO
CDBG
CDBG-R
1911 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOSITION C
PROPOSITION A
PUBLIC SAFETY GRANTS
MEASURER
HABITAT RESTORATION
SUBREGION 1 MAINTENANCE
MEASURE A MAINTENANCE
ABALONE COVE SEWER DISTRICT
RPVTV
GINSBURG CULTURE ARTS BUILDING
RECREATION IMPRV DONATION
QUIMBY
LOW-MODERATE INCOME HOUSING
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICATION
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotat .
•••••• ••
GRAND 'f:OTA~i . :·.
BALANCE
FORWARD
1M::$~i18.&;'1;7:0Jl!a
1, 196, 776.34
15, 7 42,850.54
2,702,833.31
944,752.62
27,929.29
;~a.a1:1t,rt:1:1~~ot
492,029.25
263,252.84
18,784.11
(35,678.54)
0.00
1,821, 123.02
362,040.11
125,943.54
1,845,131.26
539,137.83
120,335.19
765,828.90
209,440.07
803,161.15
26,906.71
46,519.26
0.00
138,812.47
407,723.71
29,486.67
12,408.00
501,922.34
448,601.78
7,440.11
57,471.08
0.00
0.00
3,543,891.80
257,213.92
0.00
DEBIT CREDIT
:>j!,:S.0'.li-)\'\$5:~~l:1 :.·1;iio;~1:1l".4'';>\e,,
0.00 877.98
4,500.00 505,914.19
106.47 121,558.97
0.00 0.00
448,739.08 461,793.87
'.1f:GJ:L~~~~ i1'i{l$)(!1~~;.l),i)\j
82,867.37 103,807.17
0.00 0.00
5.51 0.00
25,891.88 41,827.00
0.00 0.00
1,410.84 0.00
35,461.57 11,628.02
13,048.62 0.00
52,073.16 0.00
62,714.65 0.00
0.00 0.00
39,398.11 0.00
8,400.00 0.00
0.00 3, 173.73
0.00 0.00
0.00 3,525.38
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 831.76
0.00 0.00
0.00 0.00
2,544.00 0.00
0.00 0.00
0.00 0.00
4,454.23 1,008,085.26
179,021.69 10,202.06
0.00 0.00
% Change of
Change In Cash Balance
Ending Cash from Previous
CASH Balance Month-End
;rn$;5$~\
1, 195,898.36 (877.98) 0%
15,241,436.35 (501,414.19) 3%
2,581,380.81 (121,452.50) 4%
944,752.62 0.00 0%
14,874.50 (13,054.79) 47%
&l1$1$Za1\if!~;Jl:11.~ 1~11~a;.a~4:61 : 1W'.~kf4~t~;1t~tk'.&~
471,089.45 (20,939.80) 4%
263,252.84 0.00 0%
18,789.62 5.51 0%
(51,613.66) (15,935.12) 45%
0.00 0.00 0%
1,822,533.86 1,410.84 0%
385,873.66 23,833.55 7%
138,992.16 13,048.62 10%
1,897,204.42 52,073.16 3%
601,852.48 62,714.65 12%
120,335.19 0.00 0%
805,227.01 39,398.11 5%
217,840.07 8,400.00 4%
799,987.42 (3, 173.73) 0%
26,906.71 0.00 0%
42,993.88 (3,525.38 8%
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 0.00 0%
501,090.58 (831.76) 0%
448,601.78 0.00 0%
7,440.11 0.00 0%
60,015.08 2,544.00 4%
0.00 0.00 0%
0.00 0.00 0%
2,540,260.77 (1,003,631.03) 28%
426,033.55 168,819.63 66%
0.00 0.00 0%
874,783.61 12,559.25 15,652.05 871,690.81 (3,092.80) 0%
Total Investment: 52,575, 796.48
TREASURIES
BOA TREAS DIRECT
0.00 0.00
0.00 0.00
TOTAL CASH
53,787,423.15
1,827,283.47
0.00
(2,999, 138.08)
(38, 737.30)
(1,034.76)
416,126.71
(416,126.71)
52,575, 796.48
YTD INT
RECEIVED
105,583.80
105,583.80
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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
JUNE 2013
Acquisition Maturity
Date
Market
Value Date Term
N/A NIA On Demand $ 2,686,539
NIA NIA On Demand $ 49,889,257
NOTE(1)
NOTE (2)
Par
Value
NIA
NIA
Book
Value
$ 2,686,539
$ 49,889,257
Total Investment: $ 52,575,796
Yield
0.00%
0.24%
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 expendilure requirements for the next six months.
Treasurer Dated
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