RPVCCA_CC_SR_2011_09_06_E_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGYi\cW1 D!Yl(...
SEPTEMBER 6,2011 IW V
JULY 2011 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER@)-for-<::'L
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION,:
.
Receive and file the July 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 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 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 July 2011.
ANALYSIS:
The overall cash balances of the City totaled $40,572,764 atJuly 31,2011.This represents
a $1,066,091 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.
Gas Tax Fund -The cash balance in this fund decreased by more than $83,000 during the
month.The decrease was primarily due to the fact that the July Highway User Tax was not
received until August,while normal operating expenditures were disbursed.
CDBG Fund -The cash balance in this fund decreased by more than $58,000.Because
E-1
July 2011 Monthly Report of Cash Balances
September 6,2011
Page 2
CDBG cash receipts result from reimbursements of prior months'expenditures,it is
common to have a variance between cash receipts and expenditures for any given month.
The fund received reimbursements from CDC in August.
Employee Benefits Fund -The cash balance in this fund decreased by more than
$679,000 during the month.The decrease was primarily due to the FY11-12 prepayment of
$658,481 to CalPERS for the City's Employer portion of pension cost (not the City's
contribution to the Employee portion).The prepayment resulted in an approximate 3.66%
cash discount,equivalent to about $25,040 of savings to the City.
E-2
BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS"
LESS:CHECKS
ADJUSTMENTS
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
ENDING BALANCE
OPERATING
271,924.77
957,629.99
(1,831,687.27)
(20,510.77)
3,000,000.00
(500,000.00)
1,877,356.72
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
JULY 2011
TREASURIES BOA TREASURIES
BANKCARD PETTY CASH PAYROLL LAIF·CITY BOA ON DEMAND TREAS DIRECT TOTAL CASH
0.00 2,500.00 275,396.62 36,410,498.56 4,678,535.08 0.00 0.00 41,638,855.03
500,000.00 1,457,629.99
41,021.92 41,021.92
(212,545.20)(2,044,232.47)
(20,510.77)
3,000,000.00
(3,000,000.00)(3,500,000.00)
0.00 2,500.00 562,851.42 33,451,520.48 4,678,535.08 0.00 0.00 40,572,763.70
YTD INT
RECEIVED
41,021.92
41,021.92
"All interest (LAIF &Savings)is paid quarterly.
%Change of
Cash Balance
from Previous
Month End
Change In
Ending Cash
BalanceCASHCREDITDEBIT
BALANCE
FORWARDCASHBALANCESBYFUND -
GENERAL FUND 14,953,969.94 1,130,126.95 1,438,809.88 14,645,287.01 (308,682.93)2%
GAS TAX 233,839.82 4,632.69 88,540.23 149,932.28 (83,907.54)36%
1972 ACT 286,334.36 10,478.31 490.00 296,322.67 9,988.31 3%
EL PRADO 14,679.82 80.02 0.00 14,759.84 80.02 1%
CDBG (37,297.44)4,915.40 63,083.00 (95,465.04) (58,167.60)100%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,819,971.90 75,382.40 85,386.26 1,809,968.04 (10,003.86)1%
RECYCLING 1,076,968.58 1,013.00 413.95 1,077,567.63 599.05 0%
SOLID WASTE 277,120.20 11,476.70 12,062.66 276,534.24 (585.96)0%
AIR QUALITY MANAGEMENT 38,318.76 27.00 0.00 38,345.76 27.00 0%
PROPOSITION C 2,201,838.44 38,045.31 0.00 2,239,883.75 38,045.31 2%
PROPOSITION A 138,675.66 43,351.33 0.00 182,026.99 43,351.33 31%
PUBLIC SAFETY GRANTS 96,939.36 12,791.83 0.00 109,731.19 12,791.83 13%
MEASURE R 639,415.56 26,725.79 0.00 666,141.35 26,725.79 4%
HABITAT RESTORATION 262,769.62 288.00 0.00 263,057.62 288.00 0%
SUBREGION 1 MAINTENANCE 779,894.91 886.61 4,774.22 776,007.30 (3,887.61)0%
MEASURE A MAINTENANCE 26,778.54 26.00 0.00 26,804.54 26.00 0%
ABALONE COVE SEWER DIST 77,612.24 1,805.80 2,481.27 76,936.77 (675.47)1%
RPVTV (5,119.68)3,132.00 9,655.00 (11,642.68)(6,523.00)100%
GINSBURG CULTURE ART 182,763.94 183.00 0.00 182,946.94 183.00 0%
RECREATION IMPRV DONATION 405,113.15 406.00 0.00 405,519.15 406.00 0%
CIP 9,175,231.03 9,552.00 52,887.75 9,131,895.28 (43,335.75)0%
QUIMBY 29,298.46 30.00 0.00 29,328.46 30.00 0%
AFFORDABLE HSNG IN LIEU 4,146.64 5.00 898.98·3,252.66 (893.98)22%
EET 528,362.07 573.00 11,673.73 517,261.34 (11,100.73)2%
MEASURE A 7,440.11 0.00 0.00 7,440.11 0.00 0%
BIKEWAYS 25,565.92 1,458.00 0.00 27,023.92 1,458.00 6%
UNDERGROUND UTILITIES 185,941.26 186.00 0.00 186,127.26 186;00 0%
ROADWAY BEAUTIFICATION 102,390.43 102.00 0.00 102,492.43 102.00 0%
WQ FLOOD PROTECTION 3,416,622.83 71,002.74 28,396.24 3,459,229.33 42,606.50 1%
EQUIPMENT REPLACEMENT 2,640,079.95 3,589.88 13,745.33 2,629,924.50 (10,155.45)0%
EMPLOYEE BENEFITS 136,994.16 218,201.78 897,726.16 (542,530.22)(679,524.38)100%
BUILDING REPLACEMENT 995,625.97 1,015.00 0.00 996,640.97 1,015.00 0%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 920,568.52 40,481.51 67,037.72 894,012.31 (26,556.21 )3%
41,638,855.03 1,711,971.05 2,778,062.38 40,572,763.70 (1,066,091.33)3%
Total Investment:40,572,763.70
E-3
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
JULY 2011
Acquisition Maturity Market Par Book
Date Term Date Value Value Value Yield
N/A NlA On Demand $2,442,708 N/A $2,442,708 0.00%
N/A N/A On Demand $33,451,520 NOTE (1)N/A $33,451,520 0.38%
N/A N/A On Demand 2,855 $2,855
6/24/2011 341 days 3/31/2012 1,521,795 $1,546,139 0.03%
6/24/2011 371 days 4/30/2012 1,547,460 $1,567,011 0.03%
Issuer of
Investment Investment
Bank of
Checking Accounts America
State of
Local Agency Investment California
Fund (LAIF)
Bank of
Money Market America
U.S.Treasury
Note
U.S.Treasuries (912828GM6)
U.S.Treasury
Note
U.S.Treasuries (912828GQ7)
U.S.Treasury
Note
U.S.Treasuries (912828GU8)6/24/2011 341 days 3/31/2012 $1,548,405 $1,562,531
Total Investment:$40,572,764
0.03%
Total Investment Weighted Average Return 0.3%
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.
E-4