RPVCCA_CC_SR_2013_12_03_J_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~
DECEMBER 3, 2013
OCTOBER 2013 MONTHLY REPORT OF CASH BALANCES
CITY MANAGERc..Q_
Jane Lin, Accountant
RECOMMENDATION
Receive and file the October 2013 Monthly Report of Cash Balances forthe 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 October 2013.
ANALYSIS
The overall cash balances of the City totaled $45,235,470 at October 31, 2013. This
represents a $3,412,733 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 $70,000
during the month. The most significant factor of decrease was the disbursements for the
City's share of employee insurance premiums totaling $61,214.
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October 2013 Monthly Report of Cash Balances
December 3, 2013
Page 2
Gas Tax Fund -The cash balance in this fund increased by more than $91,000 during the
month. The City received its both August and September Highway User Tax payment in
October while normal operating expenditures were disbursed.
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $3, 131,000 during the month mainly due to a large disbursement of $2,975,705 to L.
H. Woods & Sons for the San Ramon Canyon Stabilization project. Other disbursements
including $66,560 to CBM Consulting, $29,577 to Ninyo & Moore Geotechnical, $22,500 to
SFC Consultants, and $25,250 to Hardy & Harper were also for the San Ramon Canyon
Stabilization project.
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OPERATING BANKCARD
BEGINNING BALANCE 4,350,813.81 0.00
PLUS. DEPOSITS 1,440,185.17
PLUS: INTEREST EARNINGS(1)
LESS CHECK DISBURSEMENTS (4,422, 763.21)
LESS: ELECTRONIC DISBURSEMENTS(2' (42,359.99)
ADJUSTMENTS(3) (1,508.55)
PLUS TRANSFERS IN
LESS TRANSFERS OUT (415,959.91)
ENDING BALANCE 908,407.32 0.00
(1) All LAIF inleresl is paid quarterly.
(2) Electronic Disbursements:
CalPers 35,865.99
Bank and Merchanl Fees 1,918.00
Poslage 2,500.00
Sales Tax -PVIC Gift Shop 2,076.00
42,359.99
(3) The nel adjuslmenl was due lo non-sufficienl check ilems and olher adjuslmenl.
BALANCE
CASH BALANCES BY FUND FORWARD DEBIT
Unrestricted
GENERAL FUND 14,819,370.34 1,064,255:55
Restricted by Council Action
BEAUTIFICATION FUND 1,003,131.37 651.00
CIP 11,378,379.47 31,529.90
EQUIPMENT REPLACEMENT 2,432,493.38 1,477.00
BUILDING REPLACEMENT 940,605.68 557.00
EMPLOYEE BENEFITS (1,092,270.47) 448,435.65
Sublolal 14,e62,339.43 482,650.55
Restricted bv Law or External Agencies
GAS TAX 877,109.44 208,833.58
1972 ACT 70,062.41 101.00
EL PRADO 19,063.89 12.00
CDBG 0.16 0.00
CDBG-R 0.00 0.00
1911 ACT 1, 700,249.24 1,039.00
SOLID WASTE 390,859.30 4, 157.45
AIR QUALITY MANAGEMENT 152,298.05 86.00
PROPOSITION C 1,741,618.04 43,013.36
PROPOSITION A 191,859.20 50,090.23
PUBLIC SAFETY GRANTS 20,400.19 42.00
MEASURER 916,703.86 31,484.65
HABITAT RESTORATION 181,235.82 131.00
SUBREGION 1 MAINTENANCE 789,064.75 471.00
MEASURE A MAINTENANCE (55,078.29) 5.00
ABALONE COVE SEWER DISTRICT 28,787.38 21.00
RPVTV 0.00 0.00
GINSBURG CULTURE ARTS BUILDING 138,890.47 82.00
DONOR RESTRICTED CONTRIBUTIONS 849,665.69 457.00
QUIMBY 29,504.67 18.00
LOW-MODERATE INCOME HOUSING 12,411.00 7.00
AFFORDABLE HSNG IN LIEU 501,048.77 297.00
EET 452,446.78 267.00
MEASURE A CAPITAL 7,440.11 0.00
BIKEWAYS 61,054.08 36.00
UNDERGROUND UTILITIES 0.00 0.00
ROADWAY BEAUTIFICATION 0.00 0.00
WATER QUALITY FLOOD PROTECTION 9,350,267.07 16,559.34
REDEVELOPMENT OBLIGATION RETIRE 368,151.24 4,403.00
IMPROVEMENT DISTRICT 9 0.00 0.00
SPECIAL TRUSTS 371,380.17 45,162.10
Sublolal 19, 166,493.49 406,775.71
GRAND TOTAL 48,648,203.26 1,953,681.81
Total lnveslment:
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
OCTOBER 2013
PETTY CASH PAYROLL LAIF-CITY
2,500.00 376,250.37 43,918,639.08
29,673.72
(415,959.90)
415,959.91
2,500.00 376,250.38 43,948,312.80
Change In
Ending Cash
CREDIT CASH Balance
1,244,825.29 141638,800.90 (180,569.74
0.00 1,003, 782.37 651.00
131,560.53 11,278,348.84 (100,030.63)
32,875.73 2,401,094.65 (31,398.73)
0.00 941,162.68 557.00
518,700.12 (1,162,534.94) (70,264.47)
683,136,38 14,461,853.60 (20Q~i485.83)
117,225.60 968,717.42 91,607.98
3,500.00 66,663.41 (3,399.00)
0.00 19,075.89 12.00
6,286.00 (6,285.84) (6,286.00)
0.00 0.00 0.00
26,790.51 1,674,497.73 (25,751.51)
8,009.46 387,007.29 (3,852.01)
0.00 152,384.05 86.00
0.00 1,784,631.40 43,013.36
511.41 241,438.02 49,578.82
0.00 20,442.19 42.00
0.00 948,188.51 31,484.65
29,070.00 152,296.82 (28,939.00)
1,698.72 787,837.03 (1,227.72)
0.00 (55,073.29 5.00
9,767.48 19,040.90 (9,746.48)
0.00 0.00 0.00
0.00 138,972.47 82.00
585.00 849,537.69 (128.00)
0.00 29,522.67 18.00
0.00 12,418.00 7.00
0.00 501,345.77 297.00
0.00 452,713.78 267.00
0.00 7,440.11 0.00
0.00 61,090.08 36.00
0.00 0.00 0.00
0.00 0.00 0.00
3, 148,412.20 6,218,414.21 (3, 131,852.86)
28,122.11 344,432.13 (23,719.11)
0.00 0.00 0.00
58,474.41 358,067.86 (13,312.31)
3,438,452.90 1$,134,816.30 (3,031,677.19)
5,366,414.57 45,235,470.50 (3,412,732.76)
45,235,470.50
TREASURIES
BOA
0.00
0.00
% Change of
Cash Balance
from Previous
Monlh-End
1%
0%
1%
1%
0%
6%
1%
10%
5%
0%
100%
0%
2%
1%
0%
2%
26%
0%
3%
16%
0%
0%
34%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
33%
6%
0%
4%
16%
7%
TREASURIES
BOA TREAS DIRECT
0.00 0.00
0.00 0.00
TOTAL CASH
48,648,203.26
1,440,185.17
29,673.72
(4,838,723.11)
(42,359.99)
(1,508.55)
415,959.91
(415,959.91)
45,235,470.50
YTD INT
RECEIVED
29,382.03
29,382.03
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Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
Issuer of
Investment
Bank of America
State of
California
Acquisition
Date
NIA
NIA
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
OCTOBER 2013
Term
NIA
NIA
Maturity
Date
Market
Value
On Demand $ 1,287, 158
On Demand $ 43,948,313
NOTE(1)
NOTE (2)
Par
Value
NIA
N/A
Book
Value
$ 1,287,158
$ 43,948,313
Total Investment: $ 45,235,471
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.
Dated
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