RPVCCA_IA_SR_2011_12_06_02_IA_Monthly_Cash_BalancesHONORABLE CHAIR AND MEMBERS OF THE COMMISSION ~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY~
DECEMBER 6,2011
OCTOBER 2011 MONTHLY REPORT OF CASH BALANCES
CHIEF ADMINISTRATIVE OFFICER G.9-...
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the October 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 a treasurer's report to their governing board,as defined by California
Government Code.Notwithstanding the change of California law,staff has continued to
separately prepare a monthly cash balance report for each of the three components (City,
Redevelopment Agency,and 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 $4,862 during the month,
ending with an overall balance of $1 ,534,294 at October 31,2011.The decrease was due
to the disbursement of $1,973.20 to Southern California Edison for the utility bills and the
storm drain user fee expenditure of $2,889.60 for parcels owned by the Redevelopment
Agency.
IA 2-1
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
OCTOBER 2011
Issuer of Acquisition Maturity Market Book Current
Investment Investment Date Date Value Value Yield
Checking Accounts Bank of America N/A On Demand $1,532,986 $1,532,986 None
Local Agency Investment
Fund -RDA State ofCA N/A On Demand $1,309 $1,309 0.39%
NOTE (1)NOTE (2)
Total Investment:$1,534,294
Total Investment Weighted Average Return 0.00%
BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS"
LESS:CHECKS
ADJUSTMENTS
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
ENDING BALANCE
"All interest (LAIF)is paid quarterly.
CASH BALANCES BY FUND
IA -ABALONE COVE MAINT
IA -PORTUGUESE BEND MAINT
OPERATING
1,537,848.60
(4,862.90)
1,532,985.70
BALANCE
FORWARD
1,237,362.87
301,793.45
1,539,156.32
LAIF-RDA
1,307.72
1.00
1,308.72
DEBIT
1.00
0.00
1.00
TOTAL CASH
1,539,156.32
0.00
1.00
(4,862.90)
0.00
0.00
0.00
1,534,294.42
CREDIT
4,410.71
452.19
4,862.90
YTDINTEREST
RECEIVED
0.00
0.00
ENDING
CASH
1,232,953.16
301,341.26
1,534,294.42
Change In
Ending Cash
Balance
(4,409.71)
(452.19)
(4,861.90)
%Change of
Cash Balance
from Previous
Month-End
0%
0%
0%
Total Investment:1,534,294.42
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.
~Treasurer ~D~a~t-ed-:----
IA 2-2