RPVCCA_SR_2010_09_07_11_Monthly_Report_Cash_BalancesMEMORANDUM RANCHO PALOS VERDES
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF THE CITY COUNC~
DIRECTOR OF FINANCE AND INFORMATION TECHNOLOG~
SEPTEMBER 7,2010
JULY 201 0 MONTHLY REPORT OF CASH BALANCES
CITY MANAGER ®-
Staff Coordinator:Jane Lin,Accountant
RECOMMENDATION:
Receive and file the July 2010 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 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 July 2010.
ANALYSIS:
The overall cash balances of the City totaled $36,705,034 atJuly31,2010.This represents
a $788,232 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.
CIP Fund -The cash balance in this fund decreased by more than $445,000 during the
month.The decrease was primarily due to the disbursements of $365,483 to All American
Asphalt for the residential street overlay and slurry seal project on Hawthorne Blvd.,Palos
Verdes Drive West,and Palos Verdes Drive South.
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JUly 2010 Monthly Report of Cash Balances
September 7,2010
Page 2
Employee Benefits Fund -The cash balance in this fund decreased by more than
$590,000 during the month.The decrease was primarily due to the FY1 0-11 prepayment of
$461,416 to CalPERS for the City's employer portion of the annual retirement contribution.
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CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
JULY 2010
TREASURIES BOA TREASURIES
OPERATING BANKCARD PETTY CASH PAYROLL LAIF-<:ITY BOA ON DEMAND TREAS DIRECT TOTAL CASH
BEGINNING BALANCE 2,489,758.41 0.00 2,500.00 72,168.20 30,262,661.19 4,666,177.76 0.00 0.00 37,493,265.56
PLUS:DEPOSITS 1,602,205.22 508,955.64 2,111,160.86
PLUS:INTEREST EARNINGS*41,955.56 41,955.56
LESS:CHECKS (2,058,299.37)(399,104.13)(2,457,403.50)
ADJUSTMENTS 24,528.23 24,528.23
PLUS:TRANSFERS IN 1,000,000.00 1,000,000.00
LESS:TRANSFERS OUT (508,472.90)(1,000,000.00)(1,508,472.90)
ENDING BALANCE 2,549,719.59 0.00 2,500.00 182,019.71 29,304,616.75 4,666,177.76 0.00 0.00 36,705,033.81
*AII interest (LAIF &Savings)is paid quarterly.41,955.56
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 16,375,901.02 1,233,581.94 859,838.71 16,749,644.25 373,743.23 2%
GAS TAX (5,570.23) 139,741.42 181,909.47 (47,738.28)(42,168.05)100%
1972 ACT 243,826.59 6,433.93 1,225.00 249,035.52 5,208.93 2%
EL PRADO 12,602.86 79.99 0.00 12,682.85 79.99 1%
CDBG 11,986.13 0.00 26,867.15 (14,881.02)(26,867.15)100%
CDBG-R 0.00 0.00 2,569.00 (2,569.00)(2,569.00)0%
1911 ACT 1,676,630.06 18,882.19 0.00 1,695,512.25 18,882.19 1%
RECYCLING 1,498,929.41 44,602.82 695.91 1,542,836.32 43,906.91 3%
SOLID WASTE 250,227.67 22,182.59 13,605.46 258,804.80 8,577.13 3%
AIR QUALITY MANAGEMENT 38,363.66 31.00 0.00 38,394.66 31.00 0%
PROPOSITION C 3,029,242.12 35,570.74 0.00 3,064,812.86 35,570.74 1%
PROPOSITION A 129,438.61 39,015.12 26,439.62 142,014.11 12,575.50 10%
PUBLIC SAFETY GRANTS 127,245.53 7,673.90 0.00 134,919.43 7,673.90 6%
MEASURE R 272,980.01 23,037.54 0.00 296,017.55 23,037.54 8%
HABITAT RESTORATION 106,043.15 148.00 0.00 106,191.15 148.00 0%
SUBREGION 1 MAINTENANCE 727,402.05 805.00 9,246.45 718,960.60 (8,441.45)1%
MEASURE A MAINTENANCE 26,663.55 58.00 0.00 26,721.55 58.00 0%
ABALONE COVE SEWER DIST 47,047.99 376.26 1,469.45 45,954.80 (1,093.19)2%
RPVTV (98,713.16)0.00 5,491.60 (104,204.76)(5,491.60)6%
GINSBURG CULTURE ART 196,497.90 216.00 0.00 196,713.90 216.00 0%
RECREATION IMPRV DONATION 403,391.31 443.00 0.00 403,834.31 443.00 0%
CIP 4,394,050.59 4,812.00 449,819.08 3,949,043.51 (445,007.08)10%
QUIMBY 29,172.93 32.00 0.00 29,204.93 32.00 0%
AFFORDABLE HSNG IN LIEU 7,007.14 9.00 0.00 7,016.14 9.00 0%
EET 908,614.09 6,925.68 30,000.00 885,539.77 (23,074.32)3%
MEASURE A 7,440.11 0.00 0.00 7,440.11 0.00 0%
BIKEWAYS 15,907.09 2,681.00 0.00 18,588.09 2,681.00 17%
UNDERGROUND UTILITIES 274,855.11 302.00 0.00 275,157.11 302.00 0%
ROADWAY BEAUTIFICATION 101,956.11 111.00 0.00 102,067.11 111.00 0%
WQ FLOOD PROTECTION 2,908,667.54 26,454.66 27,076.74 2,908,045.46 (622.08)0%
EQUIPMENT REPLACEMENT 2,857,924.24 3,164.00 63,900.07 2,797,188.1'7 (60,736.07)2%
EMPLOYEE BENEFITS (1,304,203.42)404,228.75 994,580.17 (1,894,554.84)(590,351.42)45%
BUILDING REPLACEMENT 1,133,864.38 1,255.00 69,759.30 1,065,360.08 (68,504.30)6%
IMPROVEMENT DISTRICT 9 0.00 0.00 0.00 0.00 0.00 0%
SPECIAL TRUSTS 1,087,873.42 26,348.75 72,941.85 1,041,280.32 (46,593.10)4%
37,493,265.56 2,049,203.28 2,837,435.03 36,705,033.81 (788,231.75)2%
Total Investment:36,705,033.81
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
JULY 2010
Issuer of Acquisition Maturity Slated Market Par Book
Investment Investment Date Term Date Interest Rate Value Value Value Yield
Bank of
Checking Accounts America N/A N/A On Demand N/A $2,734,239 N/A $2,734,239 0.00%
State of
Local Agency Investment California N/A N/A On Demand 0.53%$29,304,617 NOTE (1)N/A $29,304,617 0.53%
Fund (LAIF)
Bank of
America 6/17/2010 270 days 3/31/2011 0.20%$4,609,106 $4,666,178 0.20%
Total Investment:$36,705,034
Total Investment Weighted Average Return 0.4%
NOTE:
(1)LAIF market values will be reported to vary from book value If the City calcuiated 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 ail 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.
}?::S/./c
Dated
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