RPVCCA_CC_SR_2012_11_07_E_CC_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNC~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG~
NOVEMBER 7,2012
SEPTEMBER 2012 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER ~
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the September 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 the Authority Commission.The attached report includes the
cash activities of the City for the month of September 2012.
ANALYSIS:
The overall cash balances of the City totaled $45,284,029 at September 30,2012.This
represents a $64,116 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 (generally 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 decreased by more than $86,000 during the
month.The decrease was primarily due to the fact that the September Highway User Tax
was not received until October,while normal operating expenditures were disbursed.
Recycling Fund -The cash balance in this fund increased by more than $69,000 during
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September 2012 Monthly Report of Cash Balances
November 7,2012
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 $59,000 during
the month due to receipt of the September 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,typically in August and January.
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $127,000 during the month mainly due to a disbursement of $113,312 to Sancon
Engineering for the storm drain rehabilitation and lining project.
Employee Benefits Fund -The cash balance in this fund decreased by more than $60,000
during the month.The largest contributor to the $60,000 excess qf credits over debits was
the City's share of employee insurance premiums totaling $4&;531.
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
SEPTEMBER 2012
BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS(l)
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
(3)The net adjustment was zero.
OPERATING
1,697,003.81
1,589,959.70
(1,210,322.70)
(38,356.81)
(405,396.18)
1,632,887.82
33,847.54
2,500.00
2,009.27
38,356.81
BANKCARD
0.00
0.00
PETTY CASH
2,500.00
2,500.00
PAYROLL LAIF.cITY
364,967.46 43,283,673.25
405,396.18
(405,396.19)
364,967.45 43,283,673.25
TREASURIES
BOA
0.00
0.00
TREASURIES
BOA TREAS DIRECT TOTAL CASH
0.00 0.00 45,348,144.52
1,995,355.88
0.00
(1,615,718.89)
(38,356.81)
0.00
0.00
(405,396.18)
0.00 0.00 45,284,028.52
YTD INT
RECEIVED
0.00
CASH BALANCES BY FUND
BALANCE
FORWARD DEBIT CREDIT CASH
Change In
Ending Cash
Balance
%Change of;/'
Cash Balance
from Previous
Month-End
GENERAL FUND 13,506,249.42 1,776,495.55 1,984,866.17 13,297,878.80 (208,370.62)2%
GAS TAX 1,139,433.10 7,491.97 94,216.27 1,052,708.80 (86,724.30)8%
1972 ACT 80,878.36 0.00 700.00 80,178.36 (700.00)1%
ELPRADO 16,836.81 0.00 0.00 16,836.81 0.00 0%
CDBG (42,447.03)199,452.46 166,307.46 (9,302.03)33,145.00 78%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,659,484.89 0.00 0.00 1,659,484.89 0.00 0%
RECYCLING 1,063,704.21 70,000.00 856.04 1,132,848.17 69,143.96 7%
SOLID WASTE 268,049.61 44,138.06 9,854.42 302,333.25 34,283.64 13%
AIR QUALITY MANAGEMENT 101,186.04 0.00 0.00 101,186.04 0.00 0%
PROPOSITION C 1,427,991.26 49,930.37 0.00 1,477,921.63 49,930.37 3%
PROPOSITION A 274,822.81 60,170.34 501.11 334,492.04 59,669.23 22%
PUBLIC SAFETY GRANTS 20,189.19 0.00 0.00 20,189.19 0.00 0%
MEASURE R 454,550.48 39,039.35 0.00 493,589.83 39,039.35 9%
HABITAT RESTORATION 249,307.42 5,063.75 40,772.77 213,598.40 (35,709.02)14%
SUBREGION 1 MAINTENANCE 770,426.71 0.00 4,073.54 766,353.17 (4,073.54)1%
MEASURE A MAINTENANCE (73,125.29)0.00 0.00 (73,125.29 0.00 0%
ABALONE COVE SEWER DISTRICT 56,288.79 0.00 25,826.88 30,461.91 (25,826.88)46%
RPVTV 0.00 0.00 0.00 0.00 0.00 0%
GINSBURG CULTURE ARTS BUILDING 158,480.47 0.00 0.00 158,480.47 0.00 0%
RECREATION IMPRV DONATION 406,808.71 0.00 0.00 406,808.71 0.00 0%
CIP 15,266,445.54 341,791.66 77,712.02 15,530,525.18 264,079.64 2%
QUIMBY 29,420.67 0.00 0.00 29,420.67 0.00 0%
AFFORDABLE HSNG IN LIEU 500,279.68 0.00 12.98 500,266.70 (12.98)0%
EET 418,042.51 3,518.00 0.00 421,560.51 3,518.00 1%
MEASURE A CAPITAL 7,440.11 0.00 0.00 7,440.11 0.00 0%
BIKEWAYS 61.08 0.00 0.00 61.08 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 3,632,980.54 15,628.93 142,893.83 3,505,715.64 (127,264.90)4%
EQUIPMENT REPLACEMENT 2,523,336.68 0.00 27,371.51 2,495,965.17 27,371.51)1%
EMPLOYEE BENEFITS (938,589.65)673,954.79 734,411.33 (999,046.19)(60,456.54)6%
BUILDING REPLACEMENT 943,007.43 0.00 0.00 943,007.43 0.00 0%
REDEVELOPMENT OBLIGATION RETIRE 575,832.13 4,167.00 3,061.08 576,938.05 1,105.92 0%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 850,771.84 8,375.74 49,896.56 809,251.02 (41,520.82)5%
45,348,144.52 3,299,217.97 3,363,333.97 45,284,028.52 (64,116.00)0%
Total Investment:45,284,028.52
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Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
SEPTEMBER 2012
Issuer of Acquisition Maturity Market
Investment Date Term Date Value
Bank of
America N/A N/A On Demand $2,000,355
State of
California N/A N/A On Demand $43,283,673
NOTE (1)
NOTE (2)
Par
Value
N/A
N/A
Book
Value
$2,000,355
$43,283,673
Yield
0.00%
0.35%
Total Investment:$45,284,029
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 availabie to meet the City's expenditure requirements for the next.six months.
K~'~'~~
UA-_lo'~·Q.Treasurer ---------------4-:.D~at::e;d...lollll:;-
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