RPVCCA_IA_SR_2012_11_07_02_IA_Monthly_Cash_BalancesHONORABLE CHAIR AND MEMBERS OF THE COMMISSION ~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG~
NOVEMBER 7,2012
SEPTEMBER 2012 MONTHLY REPORT OF CASH BALANCES
CHIEF ADMINISTRATIVE OFFICER Q9.-
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
'"Receive and file the September 2012 Monthly Report of Cersh Balances for the Rancho
Palos Verdes Improvement Authority.
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 the Improvement Authority and the
City.This report summarizes the cash activity associated with all funds of the
Improvement Authority.
ANALYSIS:
The cash balances of the Improvement Authority decreased by $4,374 during the month,
ending with an overall balance of $1,507,528 at September 30,2012.The decrease was
mainly due to a disbursement to Southern California Edison for the utility bills.
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RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
SEPTEMBER 2012
Issuer of Acquisition Maturity Market Book Current
Investment Investment Date Date Value Value Yield
Checking Accounts Bank of America N/A On Demand $1,506,215 $1,506,215 None
Local Agency Investment
Fund State ofCA N/A On Demand $1,313 $1,313 0.35%
NOTE (1)NOTE (2)
Total Investment:$1,507,528
Total Investment Weighted Average Return 0.00%
YTDINTEREST
OPERATING LAIF-RDA TOTAL CASH RECEIVED
',,"
BEGINNING BALANCE 1,510,588.63 1,313.09 1,511,901.72
PLUS:DEPOSITS 0.00
PLUS:INTEREST EARNINGS"0.00
LESS:CHECKS (4,374.01 )(4,374.01)
ADJUSTMENTS 0.00
PLUS:TRANSFERS IN 0.00
LESS:TRANSFERS OUT 0.00
ENDING BALANCE 1,506,214.62 1,313.09 1,507,527.71 0.00
"All 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
IA -ABALONE COVE MAINT 1,201,226.20 0.00 2,955.18 1,198,271.02 (2,955.18)0%
IA -PORTUGUESE BEND MAl NT 310,675.52 0.00 1,418.83 309,256.69 (1,418.83)0%
1,511,901.72 0.00 4,374.01 1,507,527.71 (4,374.01)0%
Total Investment:1,507,527.71
NOTE (1):Includes only the portion attributable to the Improvement Authority.Improvement Authority monies are commingled with
Redevelopment Agency monies in this LAIF account.
NOTE (2):LAIF market values will be reported to vary from book value if the Authority calculated share of total LAIF assets is less than the
Authority 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 Improvement Authority investments and complies with the investment
policy of the Improvement Authority as approved by the governing board.Furthermore,I certify that sufficient
investment liquidity and anticipated revenues are available to meet the Authority's expenditure requirements for the
next six months.
R"P""~od'--!\~~/f:)'~'J~
Treasurer Dated
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