RPVCCA_SR_2011_04_05_10_Feb_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUN~~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG'@?
APRIL 5,2011
FEBRUARY 2011 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER c.9--
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the February 2011 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 an investment report to their governing board.Notwithstanding the
change of California law,staff has continued to submit a 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 both the Redevelopment Agency and
Improvement Authority and is presented under separate cover before their respective
governing bodies.The attached report includes the cash activities of the City for the month
of February 2011.
ANALYSIS:
The overall cash balances of the City totaled $39,336,529 at February 28,2011.This
represents a $253,492 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.
General Fund -The cash balance in this fund increased by more than $728,000 during the
month.The increase was primarily due to receipt of California Water annual franchise fee
of $224,874,Cox Cable second quarter franchise fee of $137,933,and $21,030 from
Verizon.The February revenue was offset by normal operating expenditures.
Gas Tax Fund -The cash balance in this fund decreased by more than $161,000 during
the month.The decrease was primarily due to a large disbursement of $122,412 to Hardy
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February 2011 Monthly Report of Cash Balances
April 5,2011
Page 2
&Harper for the asphalt concrete repair in the residential area.
Prop A Fund -The cash balance in this fund decreased by more than $204,000 during the
month due to the disbursement of the City's contribution of $259,781 to the Palos Verdes
Transit Authority for the six months ending June 2011.
Special Trusts Fund -The cash balance in this fund decreased by more than $54,000
during the month.The decrease was primarily due to the review oftrust deposit activity and
resulting disbursements in the normal course of accounting process.
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BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS'
LESS:CHECKS
ADJUSTMENTS
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
ENDING BALANCE
OPERATING
4,858,414.49
2,295,502,60
(1,594,787,08)
(23,051,58)
3,000,000,00
(5,426,538,36)
3,109,540,07
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
FEBRUARY 2011
TREASURIES BOA TREASURIES
BANKCARD PETIYCASH PAYROLL LAIF-CITY BOA ON DEMAND TREAS DIRECT TOTAL CASH
0,00 2,500,00 182,694,47 29,373,250,34 4,666,177.76 0,00 0,00 39,083,037,06
428,863,01 2,724,365,61
0,00
(426,496,71)(2,021,283,79)
(23,051,58)
4,000,000,00 7,000,000,00
(2,000,000,00)(7,426,538,36)
0,00 2,500,00 185,060,77 31,373,250,34 4,666,177,76 0,00 0,00 39,336,528,94
YTDINT
RECEIVED
110,589,15
110,589,15
'All interest (LAIF &Savings)is paid quarterly,
CASH BALANCES BY FUND
BALANCE
FORWARD DEBIT CREDIT CASH
Change In
Ending Cash
Balance
%Change of
Cash Balance
from Previous
Month-End
GENERAL FUND 11,232,647,81 1,747,071,69 1,018,852,32 11,960,867,18 728,219,37 6%
GAS TAX 377,424,63 122,506,81 284,296,69 215,634,75 (161,789,88)43%
1972 ACT 172,495,27 28,632,92 0,00 201,128,19 28,632,92 17%
ELPRADO 13,851,38 90,73 0,00 13,942,11 90,73 1%
CDBG (37,092,69)43,533,00 4,513,75 1,926,56 39,019,25 100%
CDBG-R 0,00 0,00 0,00 0,00 0,00 0%
1911 ACT 1,747,246,63 23,632,27 28,538,24 1,742,340,66 (4,905,97)0%
RECYCLING 932,850,97 4,000,00 783.15 936,067.82 3,216.85 0%
SOLID WASTE 207,368,73 3,134.76 5,851.23 204,652,26 (2,716.47)1%
AIR QUALITY MANAGEMENT 39,362.23 11,339,80 25,000,00 25,702.03 (13,660.20)35%
PROPOSITION C 1,993,293.67 45,563.09 0.00 2,038,856.76 45,563.09 2%
PROPOSITION A 180,166.30 54,927.19 259,781.00 (24,687.51)(204,853.81 )100%
PUBLIC SAFETY GRANTS 66,404.66 29,048.74 0.00 95,453.40 29,048.74 44%
MEASURE R 483,210.72 33,459,95 0,00 516,670,67 33,459.95 7%
HABITAT RESTORATION 317,355,15 0.00 0.00 317,355.15 0.00 0%
SUBREGION 1 MAINTENANCE 803,797,53 0.00 4,018.47 799,779,06 (4,018.47)0%
MEASURE A MAINTENANCE 26,746.55 0,00 0,00 26,746.55 0.00 0%
ABALONE COVE SEWER DIST 75,690.23 4,506.53 7,804.60 72,392.16 (3,298,07)4%
RPVTV 42,229,85 0.00 7,971,82 34,258.03 (7,971.82)19%
GiNSBURG CULTURE ART 182,526.90 0.00 0.00 182,526,90 0,00 0%
RECREATION IMPRV DONATION 404,592.31 0,00 0.00 404,592.31 0.00 0%
CIP 10,132,251.11 0.00 135,128.83 9,997,122.28 (135,128,83)1%
QUIMBY 29,260,93 0.00 0.00 29,260,93 0,00 0%
AFFORDABLE HSNG IN LIEU 5,074.44 0,00 0.00 5,074.44 0.00 0%
EET 639,098.55 0,00 31,680.10 607,418.45 (31,680.10)5%
MEASURE A 7,440,11 0.00 0.00 7,440.11 0.00 0%
BIKEWAYS 9,762,96 0,00 0.00 9,762.96 0,00 0%
UNDERGROUND UTILITIES 185,674.11 0.00 0.00 185,674.11 0.00 0%
ROADWAY BEAUTIFICATION 102,258.11 0.00 0,00 102,258.11 0,00 0%
WQ FLOOD PROTECTION 3,037,360,91 141,652.31 35,858.46 3,143,154,76 105,793,85 3%
EQUIPMENT REPLACEMENT 2,758,253.66 0.00 19,268.02 2,738,985.64 (19,268.02)1%
EMPLOYEE BENEFITS 784,402.86 435,070,98 537,821.44 681,652.40 (102,750.46)13%
BUILDING REPLACEMENT 1,061,502,16 0.00 13,130.17 1,048,371,99 (13,130.17)1%
IMPROVEMENT DISTRICT 9 0.00 0,00 0.00 0.00 0,00 0%
SPECIAL TRUSTS 1,068,528.32 19,037.50 73,418.10 1,014,147.72 (54,380.60)5%
39,083,037.06 2,747,208,27 2,493,716.39 39,336,528.94 253,491.88 1%
Total Investment:39,336,528.94
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
FEBRUARY 2011
Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
IS8uerof
Investment
Bank of
America
State of
California
Bank of
America
Acquisition
Dale
N/A
N/A
6/17/2010
Term
N/A
N/A
270 days
Maturity
Date
On Demand
On Demand
3/31/2011
Slaled
Interest Rale
N/A
0.51%
0.20%
Market
Value
$3,297,101
$31,373,250
$4,672,219
NOTE (1)
Par
Value
N/A
N/A
Book
Value
$3,297,101
$31,373,250
$4,666,178
Total Investment:
Total Investment Weighted Average Return
NOTE:
(1)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.
'fi1fijzd
Treasurer -..
$39,336,529
0.4%
-sSN'/1
Dated
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