IA SR 20191001 C - July and Aug Treasurer ReportsIMPROVEMENT AUTHORITY MEETING DATE: 10/01/2019
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the July 2019 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the July 2019 Cash Balances/Monthly Treasurer’s Report.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Jane Lin, Accountant
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, Chief Administrative Officer
ATTACHED SUPPORTING DOCUMENTS:
A. Monthly Treasurer’s Report (page A-1)
BACKGROUND AND DISCUSSION:
The cash balances of the Improvement Authority decreased by $3,994 during the
month, ending with an overall balance of $1,171,387 at July 31, 2019. The decrease
was due to normal operating expenses. These expenses included disbursements to
Hardy & Harper for the Burma Road and Emergency Repair Project, Abalone Cove
Landslide Abatement for the Horan Wells Maintenance Project, and Southern California
Edison (SCE) for utility bills. The expenditures were offset by the quarterly interest
earned for the period.
1
Investment
City's Operating Account
Local Agency Investment
Fund -lA
Local Agency Investment
Fund -RDA
NOTE (1)
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS*
LESS : CHECKS
ADJUSTMENTS
PLUS: TRANSFERS IN
LESS : TRANSFERS OUT
ENDING BALANCE
• All interest (LAIF) is paid quarterly.
CASH BALANCES BY FUND
lA -ABALONE COVE MAINT
lA -PORTUGUESE BEND MAINT
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER REPORT
JULY 2019
Issuer of A cquisition Maturity Market
Investment Date Date Value
Bank of West N/A On Demand $ (197,476)
State ofCA N/A On Demand $ 1,366,908
State ofCA N/A On Demand $ 1,956
NOTE (2)
Total Investment :
Book
Value
$ (197,476)
$ 1,366,908
$ 1,956
$ 1,171,387
Total Investment Weighted Average Return
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
(184,790.59) 1,943.19 1 ,358,228.94 1 '175,381.54
0.00
12.42 8,679.20 8,691 .62 23,858.54
(12,685.69) (12,685 .69)
0.00
0.00
0.00
(197,476.28) 1,955.61 1 ,366,908.14 1 '171 ,387.47 23,858.54
Change In
BALANCE ENDING Ending Cash
FORWARD DEBIT CREDIT CASH Balance
1 ,066,066.24 7 ,883.26 1,337.80 1 ,072,611 . 70 6 ,545.46
109,315.30 808 .36 11 ,347 .89 98 ,775.77 (10,539.53)
1 '175,381 .54 8 ,691.62 12,685.69 1 '171 ,387.47 (3,994.07)
Total Investment: 1,171,387.47
Current
Yield
0.00%
2.38%
2.38%
2.38%
%Change of
Cash Balance
from Previous
Month-End
-1%
10%
0%
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 totaiLAIF assets is less than the
Authority book value .
NOTE (3): Improvement Authority does not have an operating account; the expenses are paid from the City's operating account and allocated accordingly
to the Improvement Authority's cash funds.
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 expend iture requ irements for the
next six months.
Respectfully submitted,
Dated
A-1
IMPROVEMENT AUTHORITY MEETING DATE: 10/01/2019
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the August 2019 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the August 2019 Cash Balances/Monthly Treasurer’s Report.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Jane Lin, Accountant
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, Chief Administrative Officer
ATTACHED SUPPORTING DOCUMENTS:
A. Monthly Treasurer’s Report (page A-1)
BACKGROUND AND DISCUSSION:
The cash balances of the Improvement Authority decreased by $19,043 during the
month, ending with an overall balance of $1,152,344 at August 31, 2019. The decrease
was due to normal operating expenses. These expenses included disbursements to
Hardy & Harper for the Burma Road and Emergency Repair Project and Southern
California Edison (SCE) for utility bills.
1
Investment
City's Operating Account
Local Agency Investment
Fund lA
Local Agency Investment
Fund RDA
NOTE (1)
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS*
LESS: CHECKS
ADJUSTMENTS
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALAN9E
*All interest (LAIF) is paid quarterly.
CASH BALANCES BY FUND
lA ABALONE COVE MAINT
lA-PORTUGUESE BEND MAINT
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER REPORT
AUGUST2019
Issuer of Acquisition Maturity Market
Investment Date Date Value
Bank of West N/A On Demand $ (216,520)
State ofCA N/A On Demand $ 1,366,908
State ofCA N/A On Demand $ 1,956
NOTE (2}
Total Investment:
Book
Value
$ (216,520)
$ 1,366,908
$ 1,956
$ 1,152,344
Total Investment Weighted Average Return
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
(197,476.28) 1,955.61 1,366,908.14 1,171,387.47
0.00
0.00 23,858.54
(19,043.47) (19,043.47)
0.00
0.00
0.00
(216,519.75) 1,955.61 1,366,908.14 1,152,344.00 23,858.54
Change In
BALANCE ENDING Ending Cash
FORWARD DEBIT CREDIT CASH Balance
1 ,072,611. 70 0.00 960,68 1,071,651.02 (960.68)
98,775.77 0.00 18,082.79 80,692.98 (18,082. 79)
1,171,387.47 0.00 19,043.47 1,152,344.00 (19,043.47)
Total Investment: 1 '152,344.00
Current
Yield
0.00%
2.34%
2.34%
2.34%
%Change of
Cash Balance
from Previous
Month-End
0%
18%
2%
NOTE (1): Includes only the portion attributable to the_ Improvement Authority. Improvement Authority monies are commingled with
Redevelopment Agency monies in this LA IF 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.
NOTE (3]: Improvement Authority does not have an operating account; the expenses are paid from the City's operating account and allocated accordingly
to the Improvement Authority's cash funds.
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.
A-1