RPVCCA_IA_SR_2010_04_06_02_IA_Feb_Cash_BalancesMEMORANDUM
TO:HONORABLE CHAIR AND MEMBERS OF THE COMMISSION ~
FROM:DIRECTOR OF FINANCE AND INFORMATION TECHNOLOGY ~
DATE:APRIL 6,2010
SUBJECT:FEBRUARY 2010 MONTHLY REPORT OF CASH BALANCES
REVIEWED:CHIEF ADMINISTRATIVE OFFICER Cl9-
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the February 2010 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 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,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 $2,613 during the month,
ending with an overall balance of $1,535,528 at February 28,2010.The decrease was
due to the disbursements to Southern California Edison for the utility bills and the
dewatering well activities.
WICASH$$ITreasurer's Reporl1FY2009-201 0\201 00406-Feb201 OIA.doc
IA 2-1
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
FEBRUARY 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 $193,655 $193,655 None
Local Agency Investment
Fund -RDA State ofCA N/A On Demand 0.58%$1,341,873 $1,341,873 0.58%
NOTE (1)NOTE (2)
Total Investment:$1,535,528
Total Investment Weighted Average Return 0.50%
YTDINTEREST
OPERATING LAIF-RDA TOTAL CASH RECEIVED
BEGINNING BALANCE 193,654.68 1,344,486.36 1,538,141.04 9,937.00
PLUS:DEPOSITS 0.00
PLUS:INTEREST EARNINGS"0.00
LESS:CHECKS (2,613.35)(2,613.35)
ADJUSTMENTS 0.00
PLUS:TRANSFERS IN 2,613.35 2,613.35
LESS:TRANSFERS OUT (2,613.35)(2,613.35)
ENDING BALANCE 193,654.68 1,341,873.01 1,535,527.69 9,937.00
"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
IA -ABALONE COVE MAINT 1,344,842.03 0.00 1,618.24 1,343,223.79 (1,618.24)0%
IA -PORTUGUESE BEND MAINT 193,299.01 0.00 995.11 192,303.90 (995.11)-1%
1,538,141.04 0.00 2,613.35 1,535,527.69 (2,613.35)0%
Total Investment:1,535,527.69
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.
IA 2-2