RPVCCA_RDA_SR_2012_01_03_C_RDA_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:HONORABLE CHAIRMAN AND MEMBERS OF THE BOARD ~
FROM:DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY~
DATE:JANUARY 3,2012
SUBJECT:NOVEMBER 2011 MONTHLY REPORT OF CASH BALANCES
REVIEWED:EXECUTIVE DIRECTOR ~
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the November 2011 Monthly Report of Cash Balances for the Rancho
Palos Verdes Redevelopment Agency (RDA).
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 each of the three components (City,
Redevelopment Agency,and Improvement Authority)of the City.This report summarizes
the cash activity associated with all funds of the Redevelopment Agency.
ANALYSIS:
The cash balances of the RDA decreased by $30,901 during the month,ending with an
overall balance of $946,044 at November 30,2011.The decrease was mainly due to a
disbursement of $39,750 to Mike Drews Construction for the drainage grading in the
Portuguese Bend landslide area.The November revenue was offset by operating
expenditures.
RDA C-1
RANCHO PALOS VERDES REDEVELOPMENT AGENCY
MONTHLY REPORT OF CASH BALANCES
NOVEMBER 2011
Issuer of Acquisition Maturity Market Book Current
Investment Investment Date Date Value Value Yield
Checking Accounts Bank of America N/A On Demand $945,512 $945,512 N/A
Local Agency Investment
Fund -RDA State ofCA N/A On Demand $532 $532 0.40%
NOTE (1)NOTE (2)
Total Investment:$946,044
Total Investment Weighted Average Return 0.00%
YTDINTEREST
OPERATING LAIF-RDA TOTAL CASH RECEIVED
BEGINNING BALANCE 976,413.11 531.68 976,944.79 2.86
PLUS:DEPOSITS 10,907.32 10,907.32
PLUS:INTEREST EARNINGS*0.00
LESS:CHECKS (41,808.17)(41,808.17)
ADJUSTMENTS 0.00
PLUS:TRANSFERS IN 0.00
LESS:TRANSFERS OUT 0.00
ENDING BALANCE 945,512.26 531.68 946,043.94 2.86
*AII interest (LAIF)is paid quarterly.
%Change of
Change In Cash Balance
BALANCE ENDING Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month-End
RDA HOUSING SET-ASIDE 603,515.24 10,907.32 0.00 614,422.56 10,907.32 2%
DEBT SERVICE 43,971.68 0.00 36.18 43,935.50 (36.18)0%
RDA -ABALONE COVE 6,216.36 0.00 0.00 6,216.36 0.00 0%
RDA -PORTUGUESE BEND 323,241.51 0.00 41,771.99 281,469.52 (41,771.99)-13%
976,944.79 10,907.32 41,808.17 946,043.94 (30,900.85)-3%
Total Investment:946,043.94
NOTE (1):Includes only the portion attributable to the Redevelopment Agency.Improvement Authority monies are commingled with Agency
monies in this LAIF account,but have been excluded for the above analysis.
NOTE (2):LAIF market values will be reported to vary from book value if the Agency calculated share of total LAIF
assets is less than the Agency 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 Redevelopment Agency investments and complies with the investment
policy of the Redevelopment Agency as approved by the governing board.Furthermore,I certify that sufficient
investment liqUidity and anticipated revenues are available to meet the Agency's expenditure requirements for the
next six months.
RDA C-2