RPVCCA_RDA_SR_2011_12_06_C_RDA_Monthly_Cash_BalancesHONORABLE CHAIRMAN AND MEMBERS OF THE BOARD ~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG~
DECEMBER 6,2011
OCTOBER 2011 MONTHLY REPORT OF CASH BALANCES
EXECUTIVE DIRECTOR ~
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
RANCHO PALOS VERDES
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the October 2011 Monthly Report of Cash Balances for the Rancho Palos
Verdes Redevelopment Agency (RDA).
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 Redevelopment Agency.
ANALYSIS:
The cash balances of the RDA increased by $3,788 during the month,ending with an
overall balance of $976,945 at October 31,2011.The increase was due to the receipt of
the monthly Portuguese Bend Club Homeowners Association loan payment while normal
expenses were disbursed.
RDA C-1
RANCHO PALOS VERDES REDEVELOPMENT AGENCY
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 $976,413 $976,413 N/A
Local Agency Investment
Fund -RDA State ofCA N/A On Demand $532 $532 0.39%
NOTE (1)NOTE (2)
Total Investment:$976,945
Total Investment Weighted Average Return 0.00%
YTDINTEREST
OPERATING LAIF-RDA TOTAL CASH RECEIVED
BEGINNING BALANCE 972,625.41 530.92 973,156.33 2.86
PLUS:DEPOSITS 4,238.37 4,238.37
PLUS:INTEREST EARNINGS*0.76 0.76
LESS:CHECKS (450.67)(450.67)
ADJUSTMENTS 0.00
PLUS:TRANSFERS IN 0.00
LESS:TRANSFERS OUT 0.00
ENDING BALANCE 976,413.11 531.68 976,944.79 2.86
*AII 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
RDA HOUSING SET-ASIDE 603,786.02 72.13 342.91 603,515.24 (270.78)0%
DEBT SERVICE 43,971.68 0.00 0.00 43,971.68 0.00 0%
RDA -ABALONE COVE 6,216.36 0.00 0.00 6,216.36 0.00 0%
RDA -PORTUGUESE BEND 319,182.27 4,167.00 107.76 323,241.51 4,059.24 1%
973,156.33 4,239.13 450.67 976,944.79 3,788.46 0%
Total Investment:976,944.79
NOTE (1):Includes only the portion attributable to the Redevelopment Agency.Improvement Authority monies are commingled with Agency
monies in this LAIF account,but have been excluded for the above analysis.
NOTE (2):LAIF market values will be reported to vary from book value if the Agency calculated share of total LAIF
assets is less than the Agency 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 Redevelopment Agency investments and complies with the investment
policy of the Redevelopment Agency as approved by the governing board.Furthermore,I certify that sufficient
investment liquidity and anticipated revenues are available to meet the Agency's expenditure requirements for the
next six months.
Respectfully submitted,
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RDA C-2