RPVCCA_CC_SR_2013_09_03_G_City_Monthly_Cash_BalancesCITY OF
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCI~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG~
SEPTEMBER 3, 2013
JULY 2013 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER o_Q_
Jane Lin, Accountant
RECOMMENDATION
Receive and file the July 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 July 2013.
ANALYSIS
The overall cash balances of the City totaled $49,766,242 at July 31, 2013. This represents
a $2,809,554 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).
Employee Benefits Fund -The cash balance in this fund decreased by more than
$971,000 during the month. The decrease was primarily due to the FY13-14 prepayment of
$787,026 to CalPERS for the City's Employer portion of pension cost. The prepayment
G-1
July 2013 Monthly Report of Cash Balances
September 3, 2013
Page 2
resulted in an approximate 3.55% cash discount, equivalent to about $28,980 of savings to
the City.
Proposition A Fund -The cash balance in this fund decreased by more than $236,000
during the month due to the disbursement of the City's contribution of $284,781 to the
Palos Verdes Transit Authority for the six months ending June 2013. The Proposition A
fund pays for the Palos Verdes Peninsula Transit Authority contribution. Disbursements for
that contribution are only made twice per year.
Habitat Restoration Fund -The cash balance in this fund increased by more than $61,000
during the month. The increase was due to the grant received from the State for the
Portuguese Bend Trail Rehabilitation project.
Donor Restricted Contributions Fund and Special Trusts Fund -Both funds were impacted
by a transfer of $435,494 to move restricted donations out of the Special Trust Fund and
into the Donor Restricted Contributions Fund, which is subject to the annual budget
process. The Special Trusts Fund is not subject to the annual budget process and is more
appropriately used to account for third party transactions. The restricted donations that
were transferred include those collected by PVIC for sale of walkway whales,
amphitheater, wondrous whales, close encounters, and other exhibits.
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $1,248,000 during the month mainly due to a large disbursement of $1,053,220 to L.
H. Woods & Sons for the San Ramon Canyon Stabilization project. Other disbursements
including $64,387 to CBM Consulting, $34,574 to MG Enterprises, $55,433 to Torrey Pines
Bank, and $28,096 to Ninyo & Moore Geotechnical were for the storm drain rehabilitation
and lining project.
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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·
CalPers
Postage
Bank and Merchant Fees
Sales Tax -PVIC Gift Shop
OPERATING
2,311,470.50
1,639,192.50
(4,022,985.35)
(42, 163.82)
(3,437.38)
3,000,000.00
(409,541.97)
2,472,534.48
34,391.54
2,500.00
3,041.28
2,231.00
42,163.82
BANKCARD
0.00
0.00
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
JULY 2013
TREASURIES
PETTY CASH PAYROLL LAIF-CITY BOA
2,500.00 372,568.93 49,889,257.05 0.00
29,382.03
(409,541.96)
409,541.97
(3,000,000.00)
2,500.00 372,568.94 46,918,639.08 0.00
(3) The net adjustment was due to non-sufficient check items and other adjustment.
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
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
RPVTV
GINSBURG CULTURE ARTS BUILDING
DONOR RESTRICTED CONTRIBUTIONS
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
Subtotal
GRAND TOTAL
BALANCE
FORWARD
19,592,625.20
1, 195,898.36
15,241,436.35
2,581,380.81
944,752.62
14,874.50
19,978,342.64
471,089.45
263,252.84
18,789.62
(51,613.66)
0.00
1,822,533.86
385,873.66
138,992.16
1,897,204.42
601,852.48
120,335.19
805,227.01
217,840.07
7,99,987.42
26,906.71
42,993.88
0.00
138,812.47
407,723.71
29,486.67
12,408.00
501,090.58
448,601.78
7,440.11
60,015.08
0.00
0.00
2,540,260.77
426,033.55
0.00
871,690.81
13,004,828.64
52,575,796.48
DEBIT CREDIT
1,375,987.37 1,434,531.32
672.00 438.99
8,960.00 330,536.15
1,525.00 73,760.97
531.00 4,677.94
445,796.23 1,417,384.89
457,484.23 1,826, 798.94
94,737.87 104,455.51
4,620.46 0.00
189.11 0.00
28,677.77 7,380.95
0.00 0.00
7,521.63 30,278.60
11,702.00 17,522.22
72.00 0.00
43,720.17 0.00
51,760.91 288,234.16
65.00 0.00
32, 132.21 0.00
61,955.00 0.00
455.00 3,436.58
15.00 0.00
1,351.21 6,268.61
0.00 0.00
78.00 0.00
435,723.60 0.00
18.00 0.00
3.00 0.00
280.00 0.00
3,845.00 0.00
0.00 0.00
2,575.00 0.00
0.00 0.00
0.00 0.00
57,837.35 1,306,657.15
4,328.00 232.65
0.00 0.00
19,941.63 480,833.81
863,604.92 2,245,300.24
2,697,076.52 5,506,630.50
Total Investment:
% Change of
Change In Cash Balance
Ending Cash from Previous
CASH Balance Month-End
19,534,081.25 (58,543,95) 0%
1,196,131.37 233.01 0%
14,919,860.20 (321,576.15) 2%
2,509, 144.84 (72,235.97) 3%
940,605.68 (4, 146.94) 0%
(956,714.16) (971,588.66) 100%
18,609,027.93 (1,369,314,71) 7%
461,371.81 (9,717.64) 2%
267,873.30 4,620.46 2%
18,978.73 189.11 1%
(30,316.84) 21,296.82 41%
0.00 0.00 0%
1, 799, 776.89 (22,756.97) 1%
380,053.44 (5,820.22) 2%
139,064.16 72.00 0%
1,940,924.59 43,720.17 2%
365,379.23 (236,473.25) 39%
120,400.19 65.00 0%
837,359.22 32,132.21 4%
279,795.07 61,955.00 28%
797,005.84 (2,981.58) 0%
26,921.71 15.00 0%
38,076.48 (4,917.40) 11%
0.00 0.00 0%
138,890.47 78.00 0%
843,447.31 435,723.60 100%
29,504.67 18.00 0%
12,411.00 3.00 0%
501,370.58 280.00 0%
452,446.78 3,845.00 1%
7,440.11 0.00 0%
62,590.08 2,575.00 4%
0.00 0.00 0%
0.00 0.00 0%
1,291,440. 97 (1,248,819.80) 49%
430,128.90 4,095.35 1%
0.00 0.00 0%
410,798.63 (460,892.18) 53%
11,623,133.32 (1,381,695.32) 11%
49,766,242.50 (2,809,553.98) 5%
49,766,242.50
TREASURIES
BOA TREAS DIRECT
0.00 0.00
0.00 0.00
TOTAL CASH
52,575,796.48
f,639,192.50
29,382.03
(4,432,527.31)
(42,163.82)
(3,437.38)
3,409,541.97
(3,409,541.97)
49, 766,242.50
YTD INT
RECEIVED
105,583.80
105,583.80
G-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
JULY 2013
Acquisition
Date Term
Maturity
Date
Market
Value
NIA NIA On Demand $ 2,847,603
NIA NIA On Demand $ 46,918,639
NOTE(1)
NOTE(2)
Par
Value
NIA
N/A
Book
Value
$ 2,847,603
$ 46,918,639
Total Investment: $ 49,766,243
Yield
0.00%
0.27%
Total Investment Weighted Average Return 0.3%
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.
Treasurer Dated
G-4