RPVCCA_CC_SR_2012_06_05_E_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCI~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY ~
JUNE 5,2012
APRIL 2012 MONT~Tr RE.P.ORT OF CASH BALANCES
CITY MANAGER (Q)L-
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the April 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 its commission.The attached report includes the cash
activities of the City for the month of April 2012.
ANALYSIS:
The overall cash balances of the City totaled $45,792,565 at April 30,2012.This
represents a $1,902,546 increase during the month.The overall increase 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).
General Fund -The cash balance in this fund increased by more than $1,615,000 during
the month.The increase was primarily the result of receipt of April property tax revenue of
$1,740,319 and annual franchise fees of $326,126 from Southern California Edison and
$139,285 from Southern California Gas Company.The April revenue was offset by normal
operating expenditures.
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April 2012 Monthly Report of Cash Balances
June 5,2012
Page 2
Gas Tax Fund -The cash balance in this fund decreased by more than $84,000 during the
month.The decrease was primarily due to the fact that the April Highway User Tax was not
received until May,while normal operating expenditures were disbursed.
1972 Act Fund -The cash balance in this fund increased by more than $63,000 during the
month.The increase was due to the result of receipt of the April property assessment
distribution of $63,220.
1911 Act Fund -The cash balance in this fund increased by more than $118,000 during the
month.The increase was due to the result of receipt of the April property assessment
distribution of $145,365.
WQ Flood Protection Fund -The cash balance in this fund increased by more than
$239,000 during the month.The increase was due to the result of receipt of $308,887
storm drain user fees through the April property tax roll apportionment.
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
APRIL 2012
3,113,149,63
BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS(1)
LESS:CHECK DISBURSEMENTS
LESS:ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
OPERATING
4,421,076.43
3,831,511.09
(1,514,613.31)
(42,690.12)
3,675.88
(4,206,581.94)
BANKCARD
0.00
PETTY CASH
2,500.00
PAYROLL LAIF·CITY
570,002.79 34,217,904.79
206,581.94
32,164.29
4,000,000.00
(407,502.13)
TREASURIES
BOA
4,675,680.14
(3,113,149.63)
BOA TREASURIES
ON DEMAND TREAS DIRECT TOTAL CASH
2,854.94 0.00 43,890,019.09
4,038,093.03
32,164.29
(1,514,613.31)
(42,690,12)
3,675,88
7,113,149.63
(7,727,233.70)
YTD INT
RECEIVED
139,570.52
ENDING BALANCE
(1)All LAIF interest is paid quarterly.
(2)Eiectronic Disbursements:
CalPers
Postage
Bank and Merchant Fees
Sales Tax·PVIC Gift Shop
2,492,378.03
35,701.94
2,500.00
2,103.18
2,385.00
42,690.12
0.00 2,500.00 369,082.60 38,250,069.08 1,562,530.51 3,116,004.57 0.00 45,792,564.79 139,570.52
(3)The net adjustment was mainly due to void checks and a non-sufficient check item.
CASH BALANCES BY FUND
BALANCE
FORWARD DEBIT CREDIT CASH
Change In
Ending Cash
Balance
%Change of
Cash Balance
from Previous
Month End
GENERAL FUND 13,371,944.69 3,127,759.43 1,511,941.93 14,987,762.19 1,615,817.50 12%
GAS TAX 854,751.92 1,549.03 86,538.17 769,762.78 (84,989.14)10%
1972 ACT 183,214.44 63,348.76 0.00 246,563.20 63,348.76 35%
EL PRADO 15,911.49 579.99 0.00 16,491.48 579.99 4%
CDBG (14,894.23)7,875.00 7,148.00 (14,167.23)727.00 5%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,664,609.59 146,616.32 27,706.75 1,783,519.16 118,909.57 7%
RECYCLING 1,131,661.23 789.00 877.98 1,131,572.25 (88.98)0%
SOLID WASTE 350,035.42 2,415.03 8,509.20 343,941.25 (6,094.17)2%
AIR QUALITY MANAGEMENT 75,086.50 51.00 0.00 75,137.50 51.00 0%
PROPOSITION C 1,965,593.36 36,381.56 0.00 2,001,974.92 36,361.56 2%
PROPOSITION A 15,114.15 42,236.50 0.00 57,350.65 42,236.50 100%
PUBLIC SAFETY GRANTS 98,131.63 21,965.37 0.00 120,097.00 21,965.37 22%
MEASURE R 922,018.68 26,561.42 0.00 948,580.10 26,561.42 3%
HABITAT RESTORATION 252,178,71 173.00 0,00 252,351,71 173.00 0%
SUBREGION 1 MAINTENANCE 791,014,63 564.00 3,201,56 788,377.07 (2,637.56 0%
MEASURE A MAINTENANCE 26,834.54 21.00 0,00 26,855,54 21.00 0%
ABALONE COVE SEWER DISTRICT 102,729.74 8,958.10 3,858,30 107,829,54 5,099.80 5%
RPVTV 0.00 0.00 0,00 0.00 0.00 0%
GINSBURG CULTURE ARTS BUILDING 158,235.94 117.00 0.00 158,352.94 117.00 0%
RECREATION IMPRV DONATION 406,183,15 299.00 0.00 406,482,15 299.00 0%
CIP 12,620,409.87 9,022.00 173,600.62 12,455,831.25 (164,578.62)1%
QUIMBY 29,376.46 21.00 0.00 29,397.46 21.00 0%
AFFORDABLE HSNG IN LIEU 500,515.36 307,00 0,00 500,822.36 307.00 0%
EET 435,350,16 319,00 2,855.00 432,814,16 (2,536,00)1%
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 3,458,347.95 311,487.28 72,159.56 3,697,675.67 239,327,72 7%
EQUIPMENT REPLACEMENT 2,674,117.84 2,359.86 13,001,63 2,663,476.07 (10,641,77)0%
EMPLOYEE BENEFITS 140,709.90 441,065.84 487,636.31 94,139.43 (46,570.47)33%
BUILDING REPLACEMENT 827,189.25 663,00 0.00 827,852.25 663.00 0%
IMPROVEMENT DISTRICT 9 0.00 0,00 0.00 0,00 0.00 0%
SPECIAL TRUSTS 826,145,69 55,679.66 7,604.44 874,220.91 48,075.22 6%
43,890,019.09 4,309,185,15 2,406,639.45 45,792,564,79 1,902,545,70 4%
Total Investment:45,792,564.79
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
APRIL 2012
Investment
Issuer of
Investment
Acquisition
Date Term
Maturity
Date
Market
Value
Par
Value
Book
Value Yield
Checking Accounts
Local Agency Investment
Fund (LAIF)
Money Market
u.s.Treasuries
Bank of
America
State of
California
Bank of
America/Merrill
Lynch
U.S.Treasury
Note
(912828GU8)
N/A
N/A
N/A
6/24/2011
N/A
N/A
N/A
342 days
On Demand $2,863,961
On Demand $38,250,069
On Demand 3,152,201
5/31/2012 $1,498,658
NOTE (1)
NOTE (2)
N/A
N/A
$2,863,961
$38,250,069
$3,116,005
$1,562,531
0.00%
0.37%
0.01%
0.03%
Total Investment:$45,792,565
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 totalLAIF 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.Furthemnore,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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