RPVCCA_IA_SR_2011_05_03_02_March_Cash_BalHONORABLE CHAIR AND MEMBERS OF THE COMMISSION ..h
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG~
MAY 3,2011
MARCH 2011 MONTHLY REPORT OF CASH BALANCES
CHIEF ADMINISTRATIVE OFFICER~~c:.L
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the March 2011 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 an investment report to their governing board.Notwithstanding the
change of California law,staff has continued to separately prepare a monthly report for
each of the three components (City,Redevelopment Agency,Improvement Authority)of
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 $13,775 during the month,
ending with an overall balance of$1,620,539 at March 31,2011.The decrease was dueto
disbursements to Southern California Edison for the utility bills and Charles Abbott
Associates for the dewatering well activities.
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RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
MARCH 2011
Issuer of Acquisition Maturity Stated Market Book Current
Investment Investment Date Date Interest Rate Value Value Yield
Checking Accounts Bank of America N/A On Demand N/A $1,619,523 $1,619,523 None
Local Agency Investment
Fund -RDA State ofCA N/A On Demand 0.50%$1,016 $1,016 0.50%
NOTE (1)NOTE (2)
Total Investment:$1,620,539
Total Investment Weighted Average Return 0.00%
YTDINTEREST
OPERATING LAIF-RDA TOTAL CASH RECEIVED
BEGINNING BALANCE 1,633,297.80 1,015.72 1,634,313.52 4,325.00
PLUS:DEPOSITS 0.00
PLUS:INTEREST EARNINGS"0.00
LESS:CHECKS (13,774.64)(13,774.64)
ADJUSTMENTS 0.00
PLUS:TRANSFERS IN 0.00
LESS:TRANSFERS OUT 0.00
ENDING BALANCE 1,619,523.16 1,015.72 1,620,538.88 4,325.00
"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 MAl NT 1,308,672.48 0.00 4,201.64 1,304,470.84 (4,201.64)0%
IA -PORTUGUESE BEND MAl NT 325,641.04 0.00 9,573.00 316,068.04 (9,573.00)-3%
1,634,313.52 0.00 13,774.64 1,620,538.88 (13,774.64)-1%
Total Investment:1,620,538.88
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.
~a
Treasurer
4-37'U
Dated
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