RPVCCA_CC_SR_2013_11_06_F_Sept_Cash_BalancesCITY OF
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:
HONORABLE MAYOR AND MEMBERS OF THE CITY COLIN~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG
NOVEMBER 6, 2013
SEPTEMBER 2013 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER QQ_
Jane Lin, Accountant
RECOMMENDATION
Receive and file the September 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 September 2013.
ANALYSIS
The overall cash balances of the City totaled $48,648,203 at September 30, 2013. This
represents a $1,569,803 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).
Employee Benefits Fund -The cash balance in this fund decreased by more than $63,000
during the month. The most significant factor of decrease was the disbursements for the
City's share of employee insurance premiums totaling $55,643.
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September 2013 Monthly Report of Cash Balances
November 6, 2013
Page 2
Gas Tax Fund -The cash balance in this fund decreased by more than $281,000 during
the month. The decrease was mainly due to a total disbursement of $215,576 to Hardy &
Harper for the Palos Verdes Dr. South landslide repair project. Other disbursements
included $12,338 to Marina Landscape for the right of way maintenance project and
$16,600 to Venco Western for the landscaping maintenance project.
Proposition A Fund -The cash balance in this fund decreased by more than $234,000
during the month due to the disbursement of the City's contribution of $299,020 to the
Palos Verdes Transit Authority for the six months ending December 2013. The Proposition
A fund pays for the Palos Verdes Peninsula Transit Authority contribution. Disbursements
for that contribution are only made twice per year, typically in August and January.
Measure A Capital Fund-The cash balance in this fund increased by $150,000 during the
month. The City received a reimbursement of $150,000 from the County for the Eastview
Park improvement project.
Water Quality Flood Protection Fund -The cash balance in this fund increased by more
than $1,963,000 during the month. The City received a reimbursement of $2,029,816 from
the State for the Proposition 1 E Stormwater Flood Management program for the San
Ramon Canyon Stabilization project.
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
SEPTEMBER 2013
TREASURIES TREASURIES YTD INT
OPERATING BANKCARD PETTY CASH PAYROLL LAIF..CITY BOA BOA TREAS DIRECT TOTAL CASH RECEIVED
BEGINNING BALANCE 2,781, 111.28 0.00 2,500.00 376,150.37 43,918,639.08 0.00 0.00 0.00 47,078,400.73
PLUS: DEPOSITS 3,667,602.29 3,667,602.29
PLUS: INTEREST EARNINGS(1) 0.00 29,382.03
LESS: CHECK DISBURSEMENTS (1,649,463.30) (408,081.40) (2,057,544.70)
LESS: ELECTRONIC DISBURSEMENTS(2: (39,904.58) (39,904.58)
ADJUSTMENTS(3) (450.48) 100.00 (350.48)
PLUS: TRANSFERS IN 408,081.40 408,081.40
LESS: TRANSFERS OUT (408,081.40) (408,081.40)
ENDING BALANCE 4,350,813.81 0.00 2,500.00 376,250.37 43,918,639.08 0.00 0.00 0.00 48,648,203.26 29,382.03
(1} All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Cal Pers 36,696.41
Bank and Merchant Fees 3,208.17
39,904.58
(3) The net adjustment was due to a void check and other adjustment.
% Change of
Change In Cash Balance
BALANCE Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month-End
Unrestricted
GENERAL FUND t4;731, 122A9 1,471, 134.69. · :t3e2;ea1!1:24: •:,.14;.e19,·37o.!l4:. < /88;247.85 1'@1':·•\\'' \1)14,
Restricted by Council Action
BEAUTIFICATION FUND 1,003, 131.37 0.00 0.00 1,003,131.37 0.00 0%
CIP 11,561,200.83 0.00 182,821.36 11,378,379.47 (182,821.36) 2%
EQUIPMENT REPLACEMENT 2,463,866.35 14,655.00 46,027.97 2,432,493.38 (31,372.97) 1%
BUILDING REPLACEMENT 940,605.68 0.00 0.00 940,605.68 0.00 0%
EMPLOYEE BENEFITS (1,029,084.24) 441,393.87 504,580.10 (1,092,270.47) (63, 186.23) 6%
Subfqtal ,•, .. ::• :: F.14,9391719:9$ • .· 4S!liQ4!l:87.~ kh./iL7;33,42~43'.! ;~]ill~~f133!?!1!3I 1!\'fi<i2:Z!lif380':$flj ('!.\: W~Z' i)2%
Restricted bv Law or External Aaencies
GAS TAX 1, 158,920.82 573.10 282,384.48 877, 109.44 (281,811.38) 24%
1972 ACT 70,062.41 0.00 0.00 70,062.41 0.00 0%
EL PRADO 19,063.89 0.00 0.00 19,063.89 0.00 0%
CDBG 0.16 50,670.89 50,670.89 0.16 0.00 0%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1, 700,249.24 0.00 0.00 1, 700,249.24 0.00 0%
SOLID WASTE 354,557.82 42,741.91 6,440.43 390,859.30 36,301.48 10%
AIR QUALITY MANAGEMENT 152,298.05 0.00 0.00 152,298.05 0.00 0%
PROPOSITION C 1,688,441. 70 53, 176.34 0.00 1,741,618.04 53,176.34 3%
PROPOSITION A 426,822.44 64,056.76 299,020.00 191,659.20 (234,963.24) 55%
PUBLIC SAFETY GRANTS 20,400.19 0.00 0.00 20,400.19 0.00 0%
MEASURER 877,297.44 39,406.42 0.00 916,703.86 39,406.42 4%
HABITAT RESTORATION 184,557.07 0.00 3,321.25 181,235.82 (3,321.25) 2%
SUBREGION 1 MAINTENANCE 793,748.22 0.00 4,683.47 789,064.75 (4,683.47) 1%
MEASURE A MAINTENANCE (73,078.29) 73,093.29 55,093.29 (55,078.29) 18,000.00 25%
ABALONE COVE SEWER DISTRICT 31,620.39 0.00 2,833.01 28,787.38 (2,833.01) 9%
RPVTV 0.00 0.00 0.00 0.00 0.00 0%
GINSBURG CULTURE ARTS BUILDING 138,890.47 0.00 0.00 138,890.47 0.00 0%
DONOR RESTRICTED CONTRIBUTIONS 847,184.99 2,500.00 19.30 849,665.69 2,480.70 0%
QUIMBY 29,504.67 0.00 0.00 29,504.67 0.00 0%
LOW-MODERATE INCOME HOUSING 12,411.00 0.00 0.00 12,411.00 0.00 0%
AFFORDABLE HSNG IN LIEU 501,367.55 0.00 318.78 501,048.77 (318.78) 0%
EET 452,446.78 0.00 0.00 452,446.78 0.00 0%
MEASURE A CAPITAL (142,559.89) 150,000.00 0.00 7,440.11 150,000.00 100%
BIKEWAYS 61,054.08 0.00 0.00 61,054.08 0.00 0%
UNDERGROUND UTILITIES 0.00 0.00 0.00 0.00 0.00 0%
ROADWAY BEAUTIFICATION 0.00 0.00 0.00 0.00 0.00 0%
WATER QUALITY FLOOD PROTECTION 7,387,082.49 2,030,841.05 67,656.47 9,350,267.07 1,963, 184.58 27%
REDEVELOPMENT OBLIGATION RETIRE 372,076.99 5,065.50 8,991.25 368,151.24 (3,925.75) 1%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 343,137.57 39,416.00 11,173.40 371,380.17 28,242.60 8%
Subtotal· 17,407,558.25 2;551 ;541.26 7S2.606.02 19,166;493.49 1,758;935:24 10%
GRAND TOTAL 4.7,078,400. 73, 4,478,72<1;22 2;iioe,e21 •. e9. 48,648,20Zk26 > 1;569,802.53 .:. 3%
Total Investment: 48,648,203.26
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Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
NOTE:
(1) See footnote on the summary page
Issuer of
Investment
Bank of America
State of
California
Acquisition
Date
NIA
NIA
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
SEPTEMBER 2013
Term
NIA
NIA
Maturity
Date
Market
Value
On Demand $ 4,729,564
On Demand $ 43,918,639
NOTE(1)
NOTE (2)
Par
Value
NIA
NIA
Book
Value
$ 4,729,564
$ 43,918,639
Total Investment: $ 48,648,203
Yield
0.00%
0.26%
Total Investment Weighted Average Return 0.2%
(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.
~·d b~/3 Treasurer __ .--.._,._ _____________ _.....,,D_a.te"'d,_ __
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