RPVCCA_CC_SR_2012_05_01_E_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNC~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGYl...f£IJ
MAY 1,2012
MARCH 2012 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER ~
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the March 2012 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 their respective governing bodies.The attached report
includes the cash activities of the City for the month of March 2012.
ANALYSIS:
The overall cash balances of the City totaled $43,890,020 at March 31,2012.This
represents a $94,226 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).
Gas Tax Fund -The cash balance in this fund increased by more than $137,000 during
the month.The City received its both February and March Highway User Tax payment in
March while normal operating expenditures were disbursed.
Recycling Fund -The cash balance in this fund increased by more than $68,000 during
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March 2012 Monthly Report of Cash Balances
May 1,2012
Page 2
the month due to receipt of the third quarter recycling rebate of $70,000 from EDCO
Disposal.
Proposition A Fund -The cash balance in this fund increased by more than $54,000 during
the month due to receipt of the March Proposition A apportionment.The Proposition A fund
pays for the Palos Verdes Peninsula Transit Authority contribution.Disbursements for that
contribution are only made twice per year in August and January.
Employee Benefits Fund -The cash balance in this fund decreased by more than
$161,000 during the month.The decrease was primarily due to the first half of FY12-13
prepayment of $84,000 to HSA Bank for the Blue Shield high deductible health plan.
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
MARCH 2012
BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS(1)
LESS:CHECK DISBURSEMENTS
LESS:ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
ENDING BALANCE
(1)All LAIF interest is paid quarterly.
(2)Electronic Disbursements:
CalPers
Postage
Bank and Merchant Fees
OPERATING
4,735,449.03
1,968,675.51
(1,380,967.99)
(58,307.71)
(1,191.50)
(842,580.91)
4,421,076.43
53,978.75
2,500.00
1,828.96
58,307.71
BANKCARD
0.00
0.00
PETTY CASH
2,500.00
2,500.00
PAYROLL LAIF·CITY
350,856.53 34,217,904.79
842,580.91
(623,434.65)
570,002.79 34,217,904.79
TREASURIES
BOA
4,675,680.14
4,675,680.14
BOA
ON DEMAND
2,854.94
2,854.94
TREASURIES
TREAS DIRECT TOTAL CASH
0.00 43,985,245.43
2,811,256.42
0.00
(2,004,402.64)
(58,307.71)
(1,191.50)
0.00
(842,580.91)
0.00 43,890,019.09
YTD INT
RECEIVED
107,406.23
107,406.23
(3)The immaterial net adjustment of $1,298.50 was due to a deposit adjustment and a non·sufficient check item.
CASH BALANCES BY FUND
BALANCE
FORWARD DEBIT CREDIT CASH
Change In
Endin9 Cash
Balance
%Changeof
Cash Balance
from Previous
Month-End
GENERAL FUND 12,860,119.61 1,574,045.82 1,062,220.74 13,371,944.69 511,825.08 4%
GAS TAX 716,955.69 259,754.64 121,958.41 854,751.92 137,796.23 19%
1972 ACT 183,214.44 0.00 0.00 183,214.44 0.00 0%
EL PRADO 15,903.42 8.07 0.00 15,911.49 8.07 0%
CDBG (29,579.29)59,625.50 44,940.44 (14,894.23)14,685.06 50%
CDBG·R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,690,232.95 2,083.39 27,706.75 1,664,609.59 (25,623.36)2%
RECYCLING 1,062,981.36 70,000.00 1,320.13 1,131,661.23 68,679.87 6%
SOLID WASTE 320,584.14 40,106.06 10,654.78 350,035.42 29,451.28 9%
AIR QUALITY MANAGEMENT 75,086.50 0.00 0.00 75,086.50 0.00 0%
PROPOSiTION C 1,920,462.38 45,130.98 0.00 1,965,593.36 45,130.98 2%
PROPOSiTION A (39,286.96)54,401.11 0.00 15,114.15 54,401.11 100%
PUBLIC SAFETY GRANTS 98,131.63 0.00 0.00 98,131.63 0.00 0%
MEASURE R 888,169.29 33,849.39 0.00 922,018.68 33,849.39 4%
HABITAT RESTORATION 280,178.71 0.00 28,000.00 252,178.71 (28,000.00)10%
SUBREGION 1 MAINTENANCE 794,598.57 0.00 3,583.94 791,014.63 (3,583.94)0%
MEASURE A MAINTENANCE 26,834.54 0.00 0.00 26,834.54 0.00 0%
ABALONE COVE SEWER DISTRICT 108,672.86 0.00 5,943.12 102,729.74 5,943.12)5%
RPVTV 0.00 0.00 0.00 0.00 0.00 0%
GINSBURG CULTURE ARTS BUILDING 158,235.94 0.00 0.00 158,235.94 0.00 0%
RECREATION IMPRV DONATION 406,183.15 0.00 0.00 406,183.1~0.00 0%
CIP 13,153,718.31 62,218.89 595,527.33 12,620,409.87 (533,308.44)4%
QUIMBY 29,376.46 0.00 0.00 29,376.46 0.00 0%
AFFORDABLE HSNG IN LIEU 501,414.37 0.00 899.01 500,515.36 (899.01)0%
EET 433,719.66 3,518.00 1,887.50 435,350.16 1,630.50 0%
MEASURE A CAPITAL 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 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 3,579,267.14 610.50 121,529.69 3,458,347.95 (120,919.19)3%
EQUIPMENT REPLACEMENT 2,759,408.46 10.00 85,300.62 2,674,117.84 (85,290.62)3%
EMPLOYEE BENEFITS 302,450.61 672,009.91 833,750.62 140,709.90 (161,740.71)53%
BUILDING REPLACEMENT 827,189.25 0.00 0.00 827,189.25 0.00 0%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 852,521.21 6,204.00 32,579.52 826,145.69 26,375.52)3%
43,984,245.43 2,883,576.26 2,977,802.60 43,890,019.09 (94,226.34 )0%
Total Investment:43,890,019.09
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
MARCH 2012
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 $4,993,579 NOTE (1)N/A $4,993,579 0.00%
State of
Locai Agency Investment California N/A N/A On Demand $34,217,905 NOTE (2)N/A $34,217,905 0.38%
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 1,480,000 $1,546,139 0.03%
U.S.Treasury
Note
U.S.Treasuries (912828GQ7)6/24/2011 371 days 4/30/2012 1,505,040 $1,567,011 0.03%
U.S.Treasu'ry
Note
U.S.Treasuries (912828GU8)6/24/2011 341 days 3/31/2012 $1,504,138 $1,562,531 0.03%
Total Investment:$43,890,019
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 knowiedge,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 availabie to meet the City's expenditure requirements for the next six months.
~'~d 4·e4·~
Treasurer -....;;:lIo..,-...':lI--------....:.-~D~a~te~d~..;.-
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