RPVCCA_IA_SR_2012_12_04_02_IA_Monthly_Cash BalancesHONORABLE CHAIR AND MEMBERS OF THE COMMISSION ~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY\fI
DECEMBER 4,2012
OCTOBER 2012 MONTHLY REPORT 0(\CASH BALANCES
CHIEF ADMINISTRATIVE OFFICER G..X-
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the October 2012 Monthly Report of Cash 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 increased by $1 00,379 during the month,
ending with an overall balance of $1 ,607,907 at October 31,2012.The increase was due
to a $106,000 transfer from the General Fund to subsidize landslide maintenance in the
Portuguese Bend area of the City in accordance with FY12-13 budget,whHe normal
expenditures were disbursed.
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RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
OCTOBER 2012
Issuer of Acquisition Maturity Market Book Current
Investment Investment Date Date Value Value Yield
Checking Accounts Bank of America N/A On Demand $1,606,592 $1,606,592 None
Local Agency Investment
Fund State ofCA N/A On Demand $1,315 $1,315 0.34%
NOTE (1)NOTE (2)
Total Investment:$1,607,907
Total Investment Weighted Average Return 0.00%
BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS"
LESS:CHECKS
ADJUSTMENTS
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
ENDING BALANCE
"All interest (LAIF)is paid quarterly.
CASH BALANCES BY FUND
IA -ABALONE COVE MAINT
IA -PORTUGUESE BEND MAINT
OPERATING
1,506,214.62
(5,622.38)
106,000.00
1,606,592.24
BALANCE
FORWARD
1,198,271.02
309,256.69
1,507,527.71
LAIF-RDA
1,313.09
1.65
1,314.74
DEBIT
1.65
106,000.00
106,001.65
TOTAL CASH
1,507,527.71
0.00
1.65
(5,622.38)
0.00
106,000.00
0.00
1,607,906.98
CREDIT
2,204.99
3,417.39
5,622.38
YTDINTEREST
RECEIVED
1.65
1.65
ENDING
CASH
1,196,067.68
411,839.30
1,607,906.98
Change In
Ending Cash
Balance
(2,203.34)
102,582.61
100,379.27
%Change of
Cash Balance
from Previous
Month-End
0%
33%
7%
Total Investment:1,607,906.98
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 assEjltl!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.
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