RPVCCA_IA_SR_2010_05_04_02_CASH_BALANCESMEMORANDUM
TO:HONORABLE CHAIR AND MEMBERS OF THE COMMISSION
FROM:DIRECTOR OF FINANCE AND INFORMATION TECHNOLO~
DATE:MAY 4,2010 .~
SUBJECT:MARCH 2010 MONTHLY REPORT OF CASH BALANCES
REVIEWED:CHIEF ADMINISTRATIVE OFFICER cD.--
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the March 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 $3,272 during the month,
ending with an overall balance of $1,532,256 at March 31,2010.The decrease was due to
the disbursements to Southern California Edison for the utility bills and the dewatering well
activities.
W:ICASH$$ITreasure~s Repor\IFY2009-201 0\201 00504-Mar201 01A.doc
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RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY REPORT OF CASH BALANCES
MARCH 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 0.55%$1,338,601 $1,338,601 0.55%
NOTE (1)NOTE (2)
Total Investment:$1,532,256
BEGINNING BALANCE
PLUS:DEPOSITS
PLUS:INTEREST EARNINGS*
LESS:CHECKS
ADJUSTMENTS
PLUS:TRANSFERS IN
LESS:TRANSFERS OUT
ENDING BALANCE
*AII interest (LAIF)is paid quarterly.
OPERATING
193,654.68
(3,271.57)
3,271.57
193,654.68
LAIF-RDA
1,341,873.01
(3,271.57)
1,338,601.44
TOTAL CASH
1,535,527.69
0.00
0.00
(3,271.57)
0.00
3,271.57
(3,271.57)
1,532,256.12
Total Investment Weighted Average Return
YTDINTEREST
RECEIVED
9,937.00
9,937.00
0.48%
CASH BALANCES BY FUND
IA -ABALONE COVE MAl NT
IA -PORTUGUESE BEND MAINT
BALANCE
FORWARD
1,343,223.79
192,303.90
1,535,527.69
DEBIT
0.00
0.00
0.00
CREDIT
2,250.44
1,021.13
3,271.57
ENDING
CASH
1,340,973.35
191,282.77
1,532,256.12
Change In
Ending Cash
Balance
(2,250.44)
(1,021.13)
(3,271.57)
%Change of
Cash Balance
from Previous
Month-End
0%
-1%
0%
Total Investment:1,532,256.12
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.
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