RPVCCA_IA_SR_2013_11_06_02_IA_Sept_Cash_BalancesCITY OF
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:
HONORABLE CHAIR AND MEMBERS OF THE COMMISSION
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG~
NOVEMBER 6, 2013 ~
SEPTEMBER 2013 MONTHLY REPO~hOF CASH BALANCES
CHIEF ADMINISTRATIVE OFFICER ~
Jane Lin, Accountant
RECOMMENDATION
Receive and file the September 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 $579 during the month,
ending with an overall balance of $1,468,309 at September 30, 2013. The decrease was
due to disbursements to Vavrinek, Trine, Day & Co, LLP for an annual audit service and
Southern California Edison for the utility bills.
IA 2-1
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
SEPTEMBER 2013
Issuer of
Investment
Bank of America
State of CA
Acquisition
Date
NIA
N/A
Maturity
Date
On Demand
Market
Value
$ 1,466,458 $
On Demand $ 1,851 $
NOTE (2)
Book
Value
1,466,458
1,851
Total Investment: $ 1,468,309
OPERATING
1,467,037.42
(579.05)
1,466,458.37
Total Investment Weighted Average Return
LAIF-RDA TOTAL CASH
1,851.10 1,468,888.52
0.00
0.00
(579.05)
0.00
0.00
0.00
1,851.10 1,468,309.47
YTDINTEREST
RECEIVED
1.12
1.12
Current
Yield
None
0.26%
0.00%
*All interest (LAIF) is paid quarterly.
CASH BALANCES BY FUND
IA -ABALONE COVE MAINT
BALANCE
FORWARD DEBIT CREDIT
ENDING
CASH
Change In
Ending Cash
Balance
% Change of
Cash Balance
from Previous
Month-End
IA -PORTUGUESE BEND MAINT
1, 107,093.04
361,795.48
0.00
0.00
329.05
250.00
1, 106, 763.99
361,545.48
(329.05)
(250.00)
0%
0%
1,468,888.52 0.00 579.05 1,468,309.47 (579.05)
Total Investment: 1,468,309.47
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.
IA 2-2