RPVCCA_CC_SR_2012_01_03_B_CC_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCI~
FROM:DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY ~
DATE:JANUARY 3,2012
SUBJECT:NOVEMBER 2011 MONTHLY REPORT OF CASH BALANCES
REVIEWED:CITY MANAGER C!9----
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the November 2011 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 both the Redevelopment Agency and
Improvement Authority and is presented under separate cover before their respective
governing bodies.The attached report includes the cash activities of the City for the month
of November 2011.
ANALYSIS:
The overall cash balances of the City totaled $38,783,219 at November 30,2011.This
represents a $245,981 decrease during the month.The overall decrease is a result of
various factors in various 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).
Prop A Fund -The cash balance in this fund increased by more than $51,000 during the
month due to receipt of November Proposition A apportionment.The primary expenditure
for this fund is the contribution to the Palos Verdes Peninsula Transit Authority,which is
made on a semi-annual basis.
B-1
November 2011 Monthly Report of Cash Balances
January 3,2012
Page 2
Emplovee Benefits Fund -The cash balance in this fund decreased by more than
$185,000 during the month.Cash activity in the Employee Benefits fund reflects debits for
employee with holdings and credits for payments of total expenses (both City share and
employee share).The decrease was due to the excess of disbursement overwithholdings
on the City's share of expenses.One of the contributors to the $185,158 excess of credits
over debits was the City's share of employee insurance premiums totaling $63,476.The
remainder of the net cash decrease in this fund was primarily due to disbursement of
FY1 0-11 employee incentives,as approved by City Council on November 15,2011.
B-2
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
NOVEMBER 2011
TREASURIES BOA TREASURIES
OPERATING BANKCARD PEnYCASH PAYROLL LAIF-CITY BOA ON DEMAND TREAS DIRECT TOTAL CASH
BEGINNING BALANCE (1,686,686.09)0.00 2,500.00 350,682.35 35,684,168.27 4,678,535.08 0.00 0.00 39,029,199.61
PLUS:DEPOSITS 1,594,262.42 518,703.41 2,112,965.83
PLUS:INTEREST EARNINGS'0.00
LESS:CHECKS (1,285,023.77)(518,703.40)(1,803,727.17)
ADJUSTMENTS (36,516.17)(36,516.17)
PLUS:TRANSFERS IN 500,000.00 500,000.00
LESS:TRANSFERS OUT (518,703.41)(500,000.00)(1,018,703.41)
ENDING BALANCE (1,432,667.02)0.00 2,500.00 350,682.36 35,184,168.27 4,678,535.08 0.00 0.00 38,783,218.69
'All interest (LAIF &Savings)is paid quarterly.
YTDINT
RECEIVED
73,669.71
73,669.71
CASH BALANCES BY FUND
BALANCE
FORWARD DEBIT CREDIT CASH
Change In
Ending Cash
Balance
%Change of
Cash Balance
from Previous
Month-End
GENERAL FUND 11,914,228.81 1,186,461.27 1,239,640.59 11,861,049.49 (53,179.32)0%
GAS TAX 844,319.72 198,083.72 155,036.05 887,367.39 43,047.67 5%
1972 ACT 94,192.33 2,412.32 4,060.00 92,544.65 (1,647.68)2%
ELPRADO 14,852.40 41.54 0.00 14,893.94 41.54 0%
CDBG (7,609.29)7,608.00 3,270.00 (3,271.29)4,338.00 57%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,612,697.14 10,819.99 28,552.62 1,594,964.51 (17,732.63)1%
RECYCLING 984,235.60 4,000.00 869.29 987,366.31 3,130.71 0%
SOLID WASTE 323,461.85 7,163.81 9,003.46 321,622.20 (1,839.65)1%
AIR QUALITY MANAGEMENT 48,642.40 0.00 0.00 48,642.40 0.00 0%
PROPOSITION C 1,733,776.77 42,609.58 0.00 1,776,386.35 42,609.58 2%
PROPOSITION A 33,305.36 51,369.61 0.00 84,674.97 51,369.61 100%
PUBLIC SAFETY GRANTS 62,066.75 0.00 0.00 62,066.75 0.00 0%
MEASURE R 749,273.77 31,710.56 0.00 780,984.33 31,710.56 4%
HABITAT RESTORATION 218,770.62 0.00 0.00 218,770.62 0.00 0%
SUBREGION 1 MAINTENANCE 746,919.63 0.00 2,818.17 744,101.46 (2,818.17)0%
MEASURE A MAINTENANCE 26,811.54 0.00 0.00 26,811.54 0.00 0%
ABALONE COVE SEWER DIST 81,556.76 1,013.91 6,109.70 76,460.97 (5,095.79)6%
RPVTV (6,623.00)0.00 0.00 (6,623.00)0.00 0%
GINSBURG CULTURE ART 183,092.94 0.00 25,000.00 158,092.94 (25,000.00)14%
RECREATION IMPRV DONATION 405,843.15 0.00 0.00 405,843.15 0.00 0%
CIP 11,685,031.15 0.00 57,387.46 11,627,643.69 (57,387.46)0%
QUIMBY 29,352.46 0.00 0.00 29,352.46 0.00 0%
AFFORDABLE HSNG IN LIEU 2,330.57 12.97 12.97 2,330.57 0.00 0%
EET 433,356.66 0.00 0.00 433,356.66 0.00 0%
MEASURE A 7,440.11 0.00 0.00 7,440.11 0.00 0%
BIKEWAYS 60.92 0.00 0.00 60.92 0.00 0%
UNDERGROUND UTILITIES 310.00 0.00 0.00 310.00 0.00 0%
ROADWAY BEAUTIFICATION 170.00 0.00 0.00 170.00 0.00 0%
WQ FLOOD PROTECTION 3,210,852.76 23,445.84 72,267.13 3,162,031.47 (48,821.29)2%
EQUIPMENT REPLACEMENT 2,489,756.69 0.00 19,296.34 2,470,460.35 (19,296.34)1%
EMPLOYEE BENEFITS (726,825.16)467,489.61 652,647.98 (911,983.53)(185,158.37)25%
BUILDING REPLACEMENT 987,212.82 0.00 0.00 987,212.82 0.00 0%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 846,335.38 24,549.50 28,801.39 842,083.49 (4,251.89)1%
39,029,199.61 2,058,792.23 2,304,773.15 38,783,218.69 (245,980.92)1%
Total Investment:38,783,218.69
Footnote
The City actual operating checking account balance was $1 ,043,302.23,as follows:
City (1,432,667.02)
Redevelopment Agency 945,512.26
Improvement Authority 1,530,456.99
Total 1,043,302.23
B-3
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
NOVEMBER 2011
Issuer of Acquisition Maturity Market Par Book
Investment Investment Date Term Date Value Value Value Yield
Bank of
Checking Accounts America N/A N/A On Demand $(1,079,485)NOTE (1)N/A $(1,079,485)0.00%
State of
Local Agency Investment California N/A N/A On Demand $35,184,168 NOTE (2)N/A $35,184,168 0.40%
Fund (LAIF)
Bank of
Money Market America N/A N/A On Demand 2,855 $2,855
U.S.Treasury
Note
U.S.Treasuries (912828GM6)6/24/2011 341 days 3/31/2012 1,501,741 $1,546,139 0.03%
U.S.Treasury
Note
U.S.Treasuries (912828GQ7)6/24/2011 371 days 4/30/2012 1,527,600 $1,567,011 0.03%
U.S.Treasury
Note
U.S.Treasuries (912828GU8)6/24/2011 341 days 3/31/2012 $1,527,638 $1,562,531 0.03%
Total Investment:$38,783,219
Total Investment Weighted Average Return 0.4%
NOTE:
(1)See footnote on the summary page
(2)LAIF market values wiil 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.
12.-2~"11
Dated
B-4