RPVCCA_SR_2010_02_02_06_Dec_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCI~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY~
FEBRUARY 2,2010
DECEMBER 2009 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER c9--
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the December 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 December 2009.
ANALYSIS:
The overall cash balances of the City totaled $36,615,267 at December 31,2009.This
represents a $634,884 increase during the month.The overall increase 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 -The cash balance in this fund increased by more than $703,000 during the
month.The increase was primarily the result of receipt of the December property tax
revenue of $1,649,687.The December revenue was offset by normal operating
expend itu res.
Gas Tax Fund -The cash balance in this fund decreased by more than $328,000 during
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December 2009 Monthly Report of Cash Balances
February 2,2010
Page 2
the month ..The decrease was primarily due to a large disbursement of $235,885 to Hardy
&Harper for the repair and re-surfacing of PVDS in the Portuguese Bend landslide area.
1972 Act Fund -The cash balance in this fund increased by more than $94,000 during the
month.The increase was due to the result of receipt of the December property tax
appointment of $99,327.
1911 Act Fund -The cash balance in this fund increased by more than $123,000 during the
month.The increase was due to the result of receipt of $158,045 from the December
property tax appointment.
CIP Fund -The cash balance in this fund decreased by more than $629,000 during the
month.The decrease was primarily due to the disbursement of $607,044 as a part of the
closing of the purchase of the Upper Filiorum tract for the Portuguese Bend Nature
Preserve.
WQ Flood Protection Fund -The cash balance in this fund increased by more than
$452,000 during the month.The increase was due to the result of receipt of $488,613 of
storm drain user fees with the December property tax appointment.
Employee Benefits Fund -The cash balance in this fund increased by more than $99,000
during the month.A monthly transfer from the General Fund to the Employee benefits
fund is made for the cost of employee benefits for each respective department.
W\CASH$$\Treasurer's Report\FY2009-201 0\201 00202-Dec2009city.doc
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
DECEMBER 2009
BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS'
LESS:CHECKS
ADJUSTMENTS
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
ENDING BALANCE
OPERATING
(38,207.73)
3,172,610.29
(1,467,785.18)
(649,128.32)
5,163,473.48
(3,417,186.02)
2,763,776.52
BANKCARD
0.00
0.00
PETIYCASH
2,500.00
2,500.00
PAYROLL LAIF·CITY
13,692.68 26,681,802.19
417,186.02
(420,813.24)
3,000,000.00
(2,500,000.00)
10,065.46 27,181,802.19
TREASURIES BOA TREASURIES
BOA ON DEMAND TREAS DIRECT
0.00 9,320,596.63 0.00
6,656,778.63
(9,320,252.11 )
6,656,778.63 344.52 0.00
TOTAL CASH
35,980,383.77
3,589,796.31
0.00
(1,888,598.42)
(649,128.32)
14,820,252.11
(15,237,438.13)
36,615,267.32
YTDINT
RECEIVED
0.00
'All interest (LAIF &Savings)is paid quarterly.62,007.93
CASH BALANCES BY FUND
BALANCE
FORWARD DEBIT CREDIT CASH
Change In
Ending Cash
Balance
%Change of
Cash Balance
from Previous
Month-End
GENERAL FUND 9,972,964.27 2,238,731.56 1,534,924.73 10,676,771.10 703,806.83 7%
GAS TAX 514,639.01 500.00 328,549.53 186,589.48 (328,049.53)-64%
1972 ACT 34,716.14 99,327.71 4,991.67 129,052.18 94,336.04 100%
EVPRADO 11,195.74 609.37 31.25 11,773.86 578.12 5%
CDBG 30,896.00 31,777.00 23,882.00 38,791.00 7,895.00 26%
CDBG-R 0.00 0.00 0.00 0.00 0.00 0%
1911 ACT 1,551,353.38 158,045.93 34,710.93 1,674,688.38 123,335.00 8%
RECYCLING 1,407,472.68 0.00 1,538.64 1,405,934.04 (1,538.64)0%
SOLID WASTE 240,723.23 0.00 35,514.44 205,208.79 (35,514.44)-15%
AIR QUALITY MANAGEMENT 27,821.17 12,448.65 0.00 40,269.82 12,448.65 45%
PROPOSITION C 2,752,884.62 41,934.17 0.00 2,794,818.79 41,934.17 2%
PROPOSITION A 93,420.62 50,541.28 861.12 143,100.78 49,680.16 53%
PUBLIC SAFETY GRANTS 74,247.95 0.00 0.00 74,247.95 0.00 0%
MEASURE R 0.00 0.00 0.00 0.00 0.00 0%
HABITAT RESTORATION 155,109.45 0.00 0.00 155,109.45 0.00 0%
SUBREGION 1 MAINTENANCE 752,667.02 0.00 4,012.48 748,654.54 (4,012.48)-1%
MEASURE A MAINTENANCE 77,366.42 0.00 0.00 77,366.42 0.00 0%
ABALONE COVE SEWER DIST 71,584.56 17,932.84 3,904.77 85,612.63 14,028.07 20%
RPVTV (36,681.58)0.00 7,581.41 (44,262.99)(7,581.41 )21%
GINSBURG CULTURE ART 195,833.68 0.00 0.00 195,833.68 0.00 0%
RECREATION IMPRV DONATION 394,607.51 5,000.00 0.00 399,607.51 5,000.00 1%
CIP 6,569,708.27 0.00 629,022.09 5,940,686.18 (629,022.09)-10%
QUIMBY 25,209.05 3,898.00 0.00 29,107.05 3,898.00 15%
AFFORDABLE HSNG IN LIEU 1,771,804.01 0.00 0.00 1,771,804.01 0.00 0%
EET 839,247.60 0.00 1,670.00 837,577.60 (1,670.00)0%
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 0.00 274,1'91.50 0.00 0%
ROADWAY BEAUTIFICATION 101,709.65 0.00 0.00 101,709.65 0.00 0%
WQ FLOOD PROTECTION 2,390,806.15 488,613.25 36,469.29 2,842,950.11 452,143.96 19%
EQUIPMENT REPLACEMENT 2,919,955.17 5,808.33 8,543.25 2,917,220.25 (2,734.92)0%
EMPLOYEE BENEFITS 336,018.46 593,578.98 493,790.09 435,807.35 99,788.89 30%
BUILDING REPLACEMENT 1,319,562.96 0.00 261.75 1,319,301.21 (261.75)0%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 1,097,759.97 54,856.67 18,460.75 1,134,155.89 36,395.92 3%
35,980,383.77 3,803,603.74 3,168,720.19 36,615,267.32 634,883.55 2%
Total Investment:36,615,267.32
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Investment
Checking Accounts
Local Agency Investment
Fund (LAIF)
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
DECEMBER 2009
Issuer of Acquisition Maturity Slated Market Par Book
Investment Dale Term Date Interest Rate Value Value Value Yield
Bank of
America NIA N/A On Demand N/A $2,776,342 N/A $2,776,342 0.00%
State of
California N/A N/A On Demand 0.57%$27,181,802 NOTE (1)N/A $27,181,802 0.57%
Bank of
America-MMC 344.52 $345
Bank of
America 10/1/2009 180 days 3/25/2010 0.10%1,999,800 $1,999,000 0.10%
10/1/2009 270 days 6/17/2010 0.20%$4,662,034 $4,657,779 0.20%
Total Investment:$36,615,267
Total Investment Weighted Average Return 0.4%
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 Paios 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.
~~<£I~~
Treasurer -OllIl-:;;;a....--------------.....--=D~a~te-d~--
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