RPVCCA_CC_SR_2011_12_06_D_CC_Monthly_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:.
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCI~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGYW
DECEMBER 6,2011
OCTOBER 2011 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER ~.
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the October 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 October 2011.
ANALYSIS:
The overall cash balances of the City totaled $39,029,200 at October 31,2011.This
represents a $394,102 decrease during the month.The overall decrease is a result of
various factors in various individual funds of the City.These factors are discussed in detail
below for each fund experiencing a noteworthy cash event (defined as more than $50,000
and 5%of the cash balance in a particular fund).
General Fund -The cash balance in this fund decreased by more than $326,000.October
is a month during which no property tax revenue is received,while normal operating
expenditures were disbursed.
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October 2011 Monthly Report of Cash Balances
December 6,2011
Page 2
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $68,000 during the month mainly due to the disbursements of $76,593 to Harris &
Associates and $2,950 to CBM Consulting for the San Ramon Canyon storm drain project.
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
OCTOBER 2011
TREASURIES BOA TREASURIES
OPERATING BANKCARD PETTY CASH PAYROLL LAIF·CITY BOA ON DEMAND TREAS DIRECT TOTAL CASH
BEGINNING BALANCE (1,259,935.88)0.00 2,500.00 350,682.35 35,651,520.48 4,678,535.08 0.00 0.00 39,423,302.03
PLUS:DEPOSITS 1,242,420.37 434,672.72 1,677,093.09
PLUS:INTEREST EARNINGS'32,647.79 32,647.79
LESS:CHECKS (1,194,331.11)(434,672.72)(1,629,003.83)
ADJUSTMENTS (40,166.75)(40,166.75)
PLUS:TRANSFERS IN 0.00
LESS:TRANSFERS OUT (434,672.72)(434,672.72)
ENDING BALANCE (1,686,686.09)0.00 2,500.00 350,682.35 35,684,168.27 4,678,535.08 0.00 0.00 39,029,199.61
'All interest (LAIF &SaVings)is paid quarterly.
YTDINT
RECEIVED
73,669.71
73,669.71
CASH BALANCES BY FUND
BALANCE
FORWARD DEBIT CREDIT CASH
Change In
Ending Cash
Balance
%Change of
Cash Balance
from Previous
Month-End
GENERAL FUND 12,240,629.37 882,156.73 1,208,557.29 11,914,228.81 (326,400.56)3%
GAS TAX 868,939.69 101,330.92 125,950.89 844,319.72 (24,619.97)3%
1972 ACT 94,037.33 156.00 0.00 94,192.33 155.00 0%
EL PRADO 14,840.40 12.00 0.00 14,852.40 12.00 0%
CDBG (1.79)0.00 7,607.50 (7,609.29)(7,607.50)0%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,639,863.18 1,389.00 28,555.04 1,612,697.14 (27,166.04)2%
RECYCLING 984,297.89 807.00 869.29 984,235.60 (62.29)0%
SOLID WASTE 327,856.82 7,173.60 11,568.57 323,461.85 (4,394.97)1%
AIR QUALITY MANAGEMENT 48,607.40 35.00 0.00 48,642.40 35.00 0%
PROPOSITION C 1,696,359.93 37,416.84 0.00 1,733,776.77 37,416.84 2%
PROPOSITION A (7,662.85)41,469.32 501.11 33,305.36 40,968.21 100%
PUBLIC SAFETY GRANTS 19,933.00 42,133.75 0.00 62,066.75 42,133.75 100%
MEASURE R 723,797.29 25,476.48 0.00 749,273.77 25,476.48 4%
HABITAT RESTORATION 218,570.62 200.00 0.00 218,770.62 200.00 0%
SUBREGION 1 MAINTENANCE 749,319.99 617.00 3,017.36 746,919.63 (2,400.36)0%
MEASURE A MAINTENANCE 26,804.54 7.00 0.00 26,811.54 7.00 0%
ABALONE COVE SEWER DIST 87,767.56 67.00 6,277.80 81,556.76 (6,210.80)7%
RPVTV (6,623.00)0.00 0.00 (6,623.00)0.00 0%
GINSBURG CULTURE ART 182,946.94 146.00 0.00 183,092.94 146.00 0%
RECREATION IMPRV DONATION 405,519.15 324.00 0.00 405,843.15 324.00 0%
CIP 11,724,104.97 122,055.52 161,129.34 11,685,031.15 (39,073.82)0%
QUIMBY 29,328.46 24.00 0.00 29,352.46 24.00 0%
AFFORDABLE HSNG IN LIEU 3,239.52 3.00 911.95 2,330.57 (908.95)28%
EET 432,975.66 381.00 0.00 433,356.66 381.00 0%
MEASURE A 7,440.11 0.00 0.00 7,440.11 0.00 0%
BIKEWAYS 50.92 10.00 0.00 60.92 10.00 20%
UNDERGROUND UTILITIES 186.00 124.00 0.00 310.00 124.00 67%
ROADWAY BEAUTIFICATION 102.00 68.00 0.00 170.00 68.00 67%
WQ FLOOD PROTECTION 3,279,696.52 19,178.32 88,022.08 3,210,852.76 (68,843.76)2%
EQUIPMENT REPLACEMENT 2,508,104.19 2,064.00 20,411.50 2,489,756.69 (18,347.50)1%
EMPLOYEE BENEFITS (717,572.69)467,604.19 476,856.66 (726,825.16)(9,252.47)1%
BUILDING REPLACEMENT 986,418.82 794.00 0.00 987,212.82 794.00 0%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 853,424.09 13,185.00 20,273.71 846,335.38 (7,088.71)1%
39,423,302.03 1,766,407.67 2,160,510.09 39,029,199.61 (394,102.42)1%
Total Investment:39,029,199.61
Footnote
The City actual operating checking account balance was $822,712.72,as follows:
City (1,686,686.09)
Redevelopment Agency 976,413.11
Improvement Authority 1,532,985.70
Total 822,712.72
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
OCTOBER 2011
Issuer of Acquisition Maturity Market Par Book
Investment Investment Date Term Date Value Value Value Yield
Bank of
Checking Accounts America N/A N/A On Demand $(1,333,504)NOTE(1}N/A $(1,333,504)0.00%
State of
Local Agency Investment California N/A N/A On Demand $35,684,168 NOTE (2)N/A $35,684,168 0.39%
Fund (LAIF)
Bank of
Money Market America N/A N/A On Demand 2,855 $2,855
U.S.Treasury
Note
U.S.Treasuries (912828GM6)6/24/2011 341 days 3/31/2012 1,506,995 $1,546,139 0.03%
U.S.Treasury
Note
U.S.Treasuries (912828GQ7)6/24/2011 371 days 4/30/2012 1,532,820 $1,567,011 0.03%
•U.S.Treasury
Note
U.S.Treasuries (912828GU8)6/24/2011 341 days 3/31/2012 $1,533,132 $1,562,531 0.03%
Total Investment:$39,029,200
Total Investment Weighted Average Return 0.4%
NOTE:
(1)See footnote on the summary page
(2)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.
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Tre surer --"';;=~""~------------";'-~D~a~te-d~--
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