RPVCCA_CC_SR_2012_12_04_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 TECHNOLOGY~
DECEMBER 4,2012
OCTOBER 2012 MONHLY REPORT OF CASH BALANCES
CITY MANAGER c!.y-
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the October 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 October 2012.
ANALYSIS:
The overall cash balances of the City totaled $44,888,294 at October 31,2012.This
represents a $395,734 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).
General Fund,1972 Act Fund,1911 Act Fund,Habitat Restoration Fund,Subregion 1
Maintenance Fund,Capital Improvement Projects (CIP)Fund,Equipment Replacement
Fund,and Employee Benefits Fund -There were significant changes in the cash balances
for each of these funds during October due to the budget transfers in accordance with
FY12-13 budget.The accounting for capital projects is centralized in the CIP Fund.The
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October 2012 Monthly Report of Cash Balances
December 4,2012
Page 2
large decrease in the General Fund was primarily due to the $1 ,575,000 transfer to the CIP
Reserve to fund the FY12-13 residential street rehabilitation project,$568,000 to
Equipment Replacement Fund to provide annual funding for the future replacement of
equipment based upon charges to departments,and $1,867,575 to the Employee Benefit
Fund to provide annual funding of the estimated cost of benefits and insurance,also based
upon charges to each department.
Gas Tax Fund -The cash balance in this fund increased by more than $67,000 during the
month.The City received its August and September Highway User Tax payment in October
while normal operating expenditures were disbursed.
Special Trusts Fund -The cash balance in this fund increased by more than $71,000
during the month.The increase was primarily due to receipt of the deposits,including
$25,000 from Trumark RPV LLC,$30,000 from York Point View Properties,and $10,000
from Crown Castle USA.
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
OCTOBER 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
Bank and Merchant Fees
Sales Tax·PVIC Gift Shop
OPERATING
1,632,887.82
1,334,909.41
(1,224,732.72)
(38,736.66)
138.24
(505,957.17)
1,198,508.72
34,233.31
2,562.55
1,941.00
38,736.86
BANKCARD
0.00
0.00
PETTY CASH
2,500.00
2,500.00
PAYROLL LAIF·CITY
364,967.45 43,283,673.25
399,957.17
38,644.86
(399,957.19)
364,967.43 43,322,318.11
TREASURIES
BOA
0.00
0.00
TREASURIES YTD INT
BOA TREAS DIRECT TOTAL CASH RECEIVED
0.00 0.00 45,284,028.52
1,734,866.58
38,644.86
(1,624,689.91 )
(38,736.86)
138.24
0.00
(505,957.17)
0.00 0.00 44,888,294.26 0.00
(3)The net adjustment was mainly due'o void checks and 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 13,297,878.80 1,002,271.56 5,049,751.81 9,250,398.55 (4,047,480.25)30%
GAS TAX 1,052,708.80 138,788.63 71,052.02 1,120,445.41 67,736.61 6%
1972 ACT 80,178.36 148.00 66,300.00 14,026.36 (66,152.00)83%
EL PRADO 16,836.81 15.00 0.00 16,851.81 15.00 0%
CDBG (9,302.03)250.00 13,280.00 (22,332.03)(13,030.00)100%
CDBG·R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,659,484.89 1,416.00 105,525.76 1,555,375.13 (104,109.76)6%
RECYCLING 1,132,848.17 950.00 10,077.98 1,123,720.19 (9,127.98)1%
SOLID WASTE 302,333.25 8,623.11 34,616.77 276,339.59 (25,993.66)9%
AIR QUALITY MANAGEMENT 101,186.04 78.00 0.00 101,264.04 78.00 0%
PROPOSITION C 1,477,921.63 43,010.16 0.00 1,520,931.79 43,010.16 3%
PROPOSITION A 334,492.04 48,156.19 3,200.00 379,448.23 44,956.19 13%
PUBLIC SAFETY GRANTS 20,189.19 58.00 0.00 20,247.19 58.00 0%
MEASURE R 493,589.83 28,298.59 0.00 521,888.42 28,298.59 6%
HABITAT RESTORATION 213,598.40 90,191.00 23,867.00 279,922.40 66,324.00 31%
SUBREGION 1 MAINTENANCE 766,353.17 65,642.00 1,639.31 830,355.86 64,002.69 8%
MEASURE A MAINTENANCE (73,125.29)7.00 0.00 (73,118.29)7.00 0%
ABALONE COVE SEWER DISTRICT 30,461.91 10,745.00 6,143.55 35,063.36 4,601.45 15%
RPVTV 0.00 0.00 0.00 0.00 0.00 0%
GINSBURG CULTURE ARTS BUILDING 158,480.47 132.00 20,000.00 138,612.47 (19,868.00)13%
RECREATION IMPRV DONATION 406,808.71 337.00 0.00 407,145.71 337.00 0%
CIP 15,530,525.18 1,586,088.00 302,367.61 16,814,245.57 1,283,720.39 8%
QUIMBY 29,420.67 24.00 0.00 29,444.67 24.00 0%
AFFORDABLE HSNG IN LIEU 500,266.70 415.00 0.00 500,681.70 415.00 0%
EET 421,560.51 361.00 0.00 421,921.51 361.00 0%
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 3,505,715.64 3,852.39 153,468.38 3,356,099.65 (149,615.99)4%
EQUIPMENT REPLACEMENT 2,495,965.17 570,712.00 17,565.41 3,049,111.76 553,146.59 22%
EMPLOYEE BENEFITS (999,046.19)2,299,137.48 493,357.77 806,733.52 1,805,779.71 100%
BUILDING REPLACEMENT 943,007.43 735.00 0.00 943,742.43 735.00 0%
REDEVELOPMENT OBLIGATION RETIRE 576,938.05 4,560.00 0.00 581,498.05 4,560.00 1%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 809,251.02 79,800.26 8,323.26 880,728.02 71,477.00 9%
45,284,028.52 5,984,802.37 6,380,536.63 44,888,294.26 (395,734.26)1%
Total Investment:44,888,294.26
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Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
OCTOBER 2012
Issuer of Acquisition Maturity Market
Investment Date Term Date Value
Sank of
America N/A N/A On Demand $1,565,976
State of
California N/A N/A On Demand $43,322,318
NOTE (1)
NOTE (2)
Par
Value
N/A
N/A
Book
Value
$1,565,976
$43,322,318
Yield
0.00%
0.34%
Total Investment:$44,888,294
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 available to meet the City's expenditure requirements for the next six months.
~..~(~~a h.e:J·/?-Treasurer --~--~----------':"';::==D~a':'te-d~==-
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