RPVCCA_IA_SR_2013_08_06_03_IA_June_Monthly_Cash_Balances.pdfCITY OF
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:
HONORABLE CHAIR AND MEMBERS OF THE COMMISSION {S?i)
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGYOO
AUGUST 6, 2013
JUNE 2013 MONTHLY REPORT OF CASH BALANCES
CHIEF ADMINISTRATIVE OFFICER ~
Jane Lin, Accountant
RECOMMENDATION
Receive and file the June 2013 Monthly Report of Cash Balances for the Rancho Palos
Verdes Improvement Authority.
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
separately prepare a monthly cash balance report for the Improvement Authority and the
City. This report summarizes the cash activity associated with all funds of the
Improvement Authority.
ANALYSIS
The cash balances of the Improvement Authority decreased by $6,297 during the month,
ending with an overall balance of $1,479,097 at June 30, 2013. The decrease was due to
disbursements to Strath Pump Company for the dewatering well activities.
IA 3-1
Investment
Checking Accounts
Local Agency Investment
Fund
NOTE (1)
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS*
LESS: CHECKS
ADJUSTMENTS
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
JUNE 2013
Issuer of Acquisition Maturity Market
Investment Date Date Value
Bank of America NIA On Demand $ 1,477,247
State of CA N/A On Demand $ 1,850
NOTE (2)
Total Investment:
Book
Value
$ 1,477,247
$ 1,850
$ 1,479,097
Total Investment Weighted Average Return
YTDINTEREST
OPERATING LAIF-RDA TOTAL CASH RECEIVED
1,483,543.64 1,849.98 1,485,393.62 132.15
0.00
0.00
(6,297.00) (6,297.00)
0.00
0.00
0.00
1,477,246.64 1,849.98 1,479,096.62 132.15
Current
Yield
None
0.24%
0.00%
*All interest (LAIF) is paid quarterly.
% Change of
Change In Cash Balance
BALANCE ENDING Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month-End
IA -ABALONE COVE MAINT 1,111,661.74 0.00 0.00 1, 111,661.74 0.00 0%
IA -PORTUGUESE BEND MAINT 373,731.88 0.00 6,297.00 367,434.88 (6,297.00) -2%
1,485,393.62 0.00 6,297.00 1,479,096.62 (6,297.00)
Total Investment: 1,479,096.62
NOTE (1 ): Includes only the portion attributable to the Improvement Authority. Improvement Authority monies are commingled with
Redevelopment Agency monies in this LAIF account.
0%
NOTE (2): LAIF market values will be reported to vary from book value if the Authority calculated share of total LAIF assets is less than the
Authority 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 Improvement Authority investments and complies with the investment
policy of the Improvement Authority as approved by the governing board. Furthermore, I certify that sufficient
investment liquidity and anticipated revenues are available to meet the Authority's expenditure requirements for the
next six months.
Dated
IA 3-2