RPVCCA_RDA_SR_2010_03_02_D_RDA_Jan_2010_Cash_BalancesHONORABLE CHAIRMAN AND MEMBERS OF THE BOARD ~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY
MARCH 2,2010
JANUARY 201 0 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 January 2010 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 an investment report to their governing board.Notwithstanding the
change of California law,staff has continued to separately prepare a monthly treasury
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 $24,285 during the month,ending with an
overall balance of $2,024,383 at January 31,2010.The increase was mainly due to the
receipt of RDA tax increment from Los Angeles County while normal expenses were
disbursed.
W:ICASH$$ITreasure(5 Repor\IFY2009-201 01201 0302-Jan201 ORDA.doc
RDA D-1
RANCHO PALOS VERDES REDEVELOPMENT AGENCY
MONTHLY REPORT OF CASH BALANCES
JANUARY 2010
Issuer of Acquisition Maturity Stated Market Book Current
Investment Investment Date Date Interest Rate Value Value Yield
Checking Accounts Bank of America N/A On Demand N/A $388,373 $388,373 N/A
Local Agency Investment
Fund -RDA State of CA N/A On Demand 0.56%$1,636,010 $1,636,010 0.56%
NOTE (1)NOTE (2)
Total Investment:$2,024,383
Total Investment Weighted Average Return 0.45%
YTDINTEREST
OPERATING LAIF-RDA TOTAL CASH RECEIVED
BEGINNING BALANCE 408,070.41 1,592,027.12 2,000,097.53 12,431.28
PLUS:DEPOSITS 21,789.36 21,789.36
PLUS:INTEREST EARNINGS"2,513.45 2,513.45
LESS:CHECKS (17.50)(17.50)
ADJUSTMENTS 0.00
PLUS:TRANSFERS IN 41,469.30 41,469.30
LESS:TRANSFERS OUT (41,469.30)(41,469.30)
ENDING BALANCE 388,372.97 1,636,009.87 2,024,382.84 12,431.28
"All 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 1,420,564.75 15,210.81 17.50 1,435,758.06 15,193.31 1%
DEBT SERVICE 29,962.22 56.00 0.00 30,018.22 56.00 0%
RDA -ABALONE COVE 6,182.36 9.00 0.00 6,191.36 9.00 0%
RDA-PORTUGUESEBEND 543,388.20 9,027.00 0.00 552,415.20 9,027.00 2%
2,000,097.53 24,302.81 17.50 2,024,382.84 24,285.31 1%
Total Investment:2,024,382.84
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.
RDA D-2