RPVCCA_CC_SR_2011_10_04_E_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUN~~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG~
OCTOBER 4,2011
AUGUST 2011 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER ~
Staff Coordinator:Jane lin,Accountant
RECOMMENDATION:
Receive and file the Au'gust 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 Cityforthe month
of August 2011.
ANALYSIS:
The overall cash balances of the City totaled $39,417,230 at August 31,2011.This
represents a $1,155,534 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.
General Fund,Gas Tax Fund,1972 Act Fund,Recycling Fund,Proposition C Fund,Public
Safety Grants Fund,Measure A Maintenance Fund,Capital Improvement Projects (CIP)
Fund,and Development Impact Mitigation (EET)Fund -There were significant changes in
the cash balances for each of these funds during August due to the year-end closing
process.The accounting for capital projects is centralized in the CIP Fund.These projects
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August 2011 Monthly Report of Cash Balances
October 4,2011
Page 2
are funded with a variety of sources,including operating transfers from other funds.Once
the final actual project costs are identified for the fiscal year,funding transfers are
processed.The large decrease in the General Fund was primarily due to the $2.6 million
transfer to the CI P Reserve equivalent to the transient occupancy tax revenue received for
FY10-11.
Proposition A Fund -The cash balance in this fund decreased by more than $243,000
during the month due to the disbursement of the City's contribution of $284,781 to the
Palos Verdes Transit Authority for the six months ending December 2011.
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $108,000 during the month mainly due to the disbursements of $34,336 to Harris &
Associates,$15,400 to West Coast Strom,and $11,087 to RBF Consulting for the San
Ramon Canyon storm drain project.Other disbursements included $$37,988 to
Performance Pipeline Tech for the storm drain video and cleaning.
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BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS'
LESS:CHECKS
ADJUSTMENTS
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
ENDING BALANCE
OPERATING
1,877,356.72
1,969,746.96
(2,460,976.74)
(235,718.40)
2,300,000.00
(216,516.83)
3,233,891.71
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
AUGUST 2011
TREASURIES BOA TREASURIES
BANKCARD PETTY CASH PAYROLL LAIF-CITY BOA ON DEMAND TREAS DIRECT TOTAL CASH
0.00 2,500.00 562,851.42 33,451,520.48 4,678,535.08 0.00 0.00 40,572,763.70
216,516.83 2,186,263.79
0.00
(428,585.90)(2,889,562.64)
(235,718.40)
2,300,000.00
(2,300,000.00)(2,516,516.83)
0.00 2,500.00 350,782.35 31,151,520.48 4,678,535.08 0.00 0.00 39,417,229.62
YTDINT
RECEIVED
41,021.92
41,021.92
'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 14,645,287.01 1,984,570.43 4,598,299.23 12,031,558.21 (2,613,728.80)18%
GAS TAX 149,932.28 1,146,091.97 352,708.66 943,315.59 793,383.31 100%
1972 ACT 296,322.67 2,052.78 204,338.12 94,037.33 (202,285.34)68%
ELPRADO 14,759.84 80.56 0.00 14,840.40 80.56 1%
CDBG (95,465.04)46,505.00 15,522.19 (64,482.23)30,982.81 32%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,809,968.04 21,041.01 162,935.94 1,668,073.11 (141,894.93)8%
RECYCLING 1,077,567.63 4,000.00 166,429.79 915,137.84 (162,429.79)15%
SOLID WASTE 276,534.24 87,414.62 69,190.19 294,758.67 18,224.43 7%
AIR QUALITY MANAGEMENT 38,345.76 10,261.64 0.00 48,607.40 10,261.64 27%
PROPOSITION C 2,239,883.75 44,976.20 633,293.00 1,651,566.95 (588,316.80)26%
PROPOSITION A 182,026.99 54,221.80 297,906.97 (61,658.18)(243,685.17)100%
PUBLIC SAFETY GRANTS 109,731.19 10,201.81 103,060.64 16,872.36 (92,858~83)85%
MEASURE R 666,141.35 110,599.76 86,941.00 689,800.11 23,658.76 4%
HABITAT RESTORATION 263,057.62 0.00 16,487.00 246,570.62 (16,487.00)6%
SUBREGION 1 MAINTENANCE 776,007.30 0.00 1,971.65 774,035.65 (1,971.65)0%
MEASURE A MAINTENANCE 26,804.54 0.00 294,503.46 (267,698.92) (294,503.46)100%
ABALONE COVE SEWER DIST 76,936.77 22,000.00 6,943.23 91,993.54 15,056.77 20%
RPVTV (11,642.68)5,119.68 5,219.68 (11,742.68)(100.00)1%
GINSBURG CULTURE ART 182,946.94 0.00 0.00 182,946.94 0.00 0%
RECREATION IMPRV DONATION 405,519.15 0.00 0.00 405,519.15 0.00 0%
CIP 9,131,895.28 3,245,511.39 540,122.93 11,837,283.74 2,705,388.46 30%
QUIMBY 29,328.46 0.00 0.00 29,328.46 0.00 0%
AFFORDABLE HSNG IN LIEU 3,252.66 0.00 1.52 3,251.14 (1.52)0%
EET 517,261.34 17,578.08 101,863.76 432,975.66 (84,285.68)16%
MEASURE A 7,440.11 0.00 0.00 7,440.11 0.00 0%
BIKEWAYS 27,023.92 0.00 28,380.08 (1,356.16)(28,380.08)100%
UNDERGROUND UTILITIES 186,127.26 0.00 0.00 186,127.26 0.00 0%
ROADWAY BEAUTIFICATION 102,492.43 0.00 0.00 102,492.43 0.00 0%
WQ FLOOD PROTECTION 3,459,229.33 10,034.30 118,279.25 3,350,984.38 (108,244.95)3%
EQUIPMENT REPLACEMENT 2,629,924.50 0.00 96,680.52 2,533,243.98 (96,680.52)4%
EMPLOYEE BENEFITS (542,530.22)497,321.45 535,237.46 (580,446.23)(37,916.01)7%
BUILDING REPLACEMENT 996,640.97 0.00 5,317.88 991,323.09 (5,317.88)1%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 894,012.31 20,152.72 53,635.13 860,529.90 (33,482.41 )4%
40,572,763.70 7,339,735.20 8,495,269.28 39,417,229.62 (1,155,534.08)3%
Total Investment:39,417,229.62
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
AUGUST 2011
Acquisition Maturity Market Par Book
Date Term Date Value Value Value Yield
N/A N/A On Demand $3,587,174 N/A $3,587,174 0.00%
N/A N/A On Demand $31,151,520 NOTE (1)N/A $31,151,520 0.41%
N/A N/A On Demand 2,855 $2,855
6/24/2011 341 days 3/31/2012 1,517,977 $1,546,139 0.03%
6/24/2011 371 days 4/30/2012 1,543,770 $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 $1,544,732 $1,562,531
Total Investment:$39,417,230
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.
JrlZh&
Treasurer
9<R~'1)-:--_
Dated
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