RPVCCA_SR_2010_02_02_05_Nov_Cash_BalancesMEMORANDUM RANCHO P'ALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCI~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY~
FEBRUARY 2,2010
NOVEMBER 2009 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER 09-
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the November 2009 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 an investment report to their governing board.Notwithstanding the
change of California law,staff has continued to submit a treasury 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 November 2009.
ANALYSIS:
The overall cash balances of the City totaled $35,980,384 at November 30,2009.This
represents a $1,041,715 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 $60,000 during the
month.The decrease was primarily due to the fact that the November Highway User Tax
was not received while normal operating expenditures were disbursed.
Solid Waste Fund -The cash balance in this fund increased by more than $129,000 during
the month.The increase was primarily due to the receipt of $152,500 contracting fee from
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November 2009 Monthly Report of Cash Balances
February 2,2010
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EDCO Disposal Corporation to reimburse the City's for fees charged by the City's
consultant in accordance with the competitive bid process for residential trash and
recycling services.
COPS/LLESS Fund -The cash balance in this fund increased by more than $62,000
during the month.The increase was due to the receipt of $36,616 from Los Angeles
County for the first installment in FY09-1 0 and a year-end adjustment of $22,685 for FY08-
09.
Measure A Maint Fund -The cash balance in this fund increased by more than $67,000
during the month.The City received a reimbursement of $67,074 from the County for the
second half of FY08-09 park-site maintenance services in the Portuguese Bend Nature
Preserve,Lower Hesse Park,and PVIC.
Ginsburg Culture Art Fund -The cash balance in this fund decreased by $300,000 during
the month.The decrease was due to a disbursement of $300,000 to the Palos Verdes
Peninsula Land Conservancy (PVPLV).Dr.and Mrs.Ginsburg directed the City to transfer
a portion of the Art Fund balance to PVPLC for its acquisition and restoration fund raising
campaign.
CIP Fund -The cash balance in this fund decreased by more than $623,000 during the
month.The disbursements included $591,701 to All American Asphalt and $59,176 to
Community Bank for the residential street overlay and slurry seal project.
W:\CASH$$\Treasurer's Report\FY2009-201 0\201 00202-Nov2009city.doc
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
NOVEMBER 2009
TREASURIES BOA TREASURIES
OPERATING BANKCARD PETTY CASH PAYROLL LAIF-CITY BOA ON DEMAND TREAS DIRECT TOTAL CASH
BEGINNING BALANCE 1,002,042.56 0.00 2,500.00 13,692.68 26,681,802.19 0.00 9,322,061.22 0.00 37,022,098.65
PLUS:DEPOSITS 1,494,920.37 398,370.44 1,893,290.81
PLUS:INTEREST EARNINGS'0.00
LESS:CHECKS (2,097,640.77)(398,370.44)(2,496,011.21 )
ADJUSTMENTS (39,159.45)(1,464.59)(40,624.04)
PLUS:TRANSFERS IN 0.00
LESS:TRANSFERS OUT (398,370.44)(398,370.44)
ENDING BALANCE (38,207.73)0.00 2,500.00 13,692.68 26,681,802.19 0.00 9,320,596.63 0.00 35,980,383.77
'All Interest (LAIF &Savings)is paid quarterly.62,007.93
YTDINT
RECEIVED
0.00
CASH BALANCES BY FUND
BALANCE
FORWARD DEBIT CREDIT CASH
Change In
Ending Cash
Balance
%Change of
Cash Balance
from Previous
Month-End
GENERAL FUND 10,255,618.15 1,039,968.17 1,322,622.05 9,972,964.27 (282,653.88)-3%
GAS TAX 574,818.27 4,401.97 64,581.23 514,639.01 (60,179.26)-10%
1972 ACT 36,719.05 2,988.76 4,991.67 34,716.14 (2,002.91)-5%
EL PRADO 11,161.74 59.36 25.36 11,195.74 34.00 0%
CDBG 34,271.00 0.00 3,375.00 30,896.00 (3,375.00)-10%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,570,419.43 15,390.18 34,456.23 1,551,353.38 (19,066.05)-1%
RECYCLING 1,403,739.53 5,271.80 1,538.65 1,407,472.68 3,733.15 0%
SOLID WASTE 111,421.98 160,354.55 31,053.30 240,723.23 129,301.25 100%
AIR QUALITY MANAGEMENT 27,821.17 0.00 0.00 27,821.17 0.00 0%
PROPOSITION C 2,717,179.17 35,705.45 0.00 2,752,884.62 35,705.45 1%
PROPOSITION A 87,817.87 44,472.37 38,869.62 93,420.62 5,602.75 6%
PUBLIC SAFETY GRANTS 11,947.37 62,300.58 0.00 74,247.95 62,300.58 100%
HABITAT RESTORATION 182,309.45 0.00 27,200.00 155,109.45 (27,200.00)-15%
SUBREGION 1 MAINTENANCE 757,028.36 0.00 4,361.34 752,667.02 (4,361.34)-1%
MEASURE A MAINTENANCE 10,292.45 67,073.97 0.00 77,366.42 67,073.97 100%
ABALONE COVE SEWER DIST 84,770.59 863.62 14,049.65 71,584.56 (13,186.03)-16%
RPVTV (28,722.41 )0.00 7,959.17 (36,681.58)(7,959.17)28%
GINSBURG CULTURE ART 495,833.68 0.00 300,000.00 195,833.68 (300,000.00)-61%
RECREATION iMPRV DONATION 394,607.51 0.00 0.00 394,607.51 0.00 0%
CIP 7,192,744.89 0.00 623,036.62 6,569,708.27 (623,036.62)-9%
QUIMBY 25,209.05 0.00 0.00 25,209.05 0.00 0%
AFFORDABLE HSNG IN LIEU 1,772,400.01 0.00 596.00 1,771,804.01 (596.00)0%
EET 849,927.81 0.00 10,680.21 839,247.60 (10,680.21 )-1%
MEASURE A 7,440.11 0.00 0.00 7,440.11 0.00 0%
BIKEWAYS 4,149.00 0.00 0.00 4,149.00 0.00 0%
UNDERGROUND UTILITIES 274,191.50 0.00 0.00 274,191.50 0.00 0%
ROADWAY BEAUTIFICATION 101,709.65 0.00 0.00 101,709.65 0.00 0%
WQ FLOOD PROTECTION 2,397,668.87 13,755.88 20,618.60 2,390,806.15 (6,862.72)0%
EQUIPMENT REPLACEMENT 2,962,571.71 5,808.33 48,424.87 2,919,955.17 (42,616.54)-1%
EMPLOYEE BENEFITS 289,945.97.587,733.49 541,661.00 336,018.46 46,072.49 16%
BUILDING REPLACEMENT 1,325,303.17 0.00 5,740.21 1,319,562.96 (5,740.21)0%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 1,079,782.55 55,960.00 37,982.58 1,097,759.97 17,977.42 2%
37,022,098.65 2,102,108.48 3,143,823.36 35,980,383.77 (1,041,714.88)-3%
Total Investment:35,980,383.77
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
NOVEMBER 2009
Issuer of Acquisition Maturity Stated Market
Investment Date Term Date Interest Rate Value
Bank of
America N/A N/A On Demand N/A $(22,015)
State of
California N/A N/A On Demand 0.61%$26,681,802
Total Investment:
Total Investment Weighted Average Return
Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
Money Market Account
Bank of
America 8/21/2009
10/1/2009
10/1/2009
90 days
180 days
270 days
11/19/2009
312512010
6/17/2010
0.13%
0.10%
0.20%
$5,324,167
1,999,580
$2,002,216
Par Book
Value Value Yield
N/A $(22,015)0.00%
NOTE (1)N/A $26,681,802 0.61%
N/A $5,320,597 0.13%
$1,999,000 0.10%
$2,001,000 0.20%
$35,980,384
0.5%
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.
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Treasurer -;::",IlIIIIIlQ..------------.:..=~Dl.a~te=::;d;...--
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