IA SR 20191106 C - Sept 2019 Treasurer Report-IAIMPROVEMENT AUTHORITY MEETING DATE: 11/06/2019
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the September 2019 Cash
Balances/Monthly Treasurer’s Report
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the September 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: Angelina Garcia, Interim 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 increased by $25,274 during the
month, ending with an overall balance of $1,177,618 at September 30, 2019. The
increase was due to the quarterly interfund transfer in accordance of the Fiscal Year
2019-20 budget, while disbursements to Southern California Edison (SCE) for utility bills
were offset by the interfund transfer.
1
A-1
Investment
ity's Operating Account
ocal Agency Investment
Fund -lA
.ocal 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 IMPROVEM ENT AUTHORITY
MONTHLY TREASURER REPORT
SEPTEMBER 2019
Issuer of Acquisition Maturity Market
Investm ent Date Date Value
Bank of West N/A On Demand $ (191 ,245)
State ofCA N/A On Demand $ 1,366,908
State ofCA N/A On Demand $ 1,956
NOTE (2)
Total Investment:
Book Current
Value Yield
$ (191 ,245) 0.00%
$ 1,366,908 2.28%
$ 1,956 2.28%
$ 1 ,177,618
Total Investment Weighted Average Return 2.28%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
(216,519.75) 1,955.61 1,366,908.14 1,152,34-4.00
0.00
0.00
(975.66) (975.66)
26,250.00 26,250.00
0.00
0 .00
(191 ,245.41) 1,955.61 1,366,908.14 1,177,618.34 0 .00
%Change of
Change In Cash Balance
BALANCE ENDING Ending Cash from Previous
FORWARD DEBIT CREDIT CASH Balance Month-End
1,071 ,651.02 12,500.00 847.69 1,083,303.33 11,652.31 1%
80,692 .98 13,750.00 127.97 94,315.01 13,622.03 17%
1 '152,344.00 26,250.00 975.66 1 '177,618.34 25,274.34 2%
Total Investment: 1,177,618.34
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.
NOTE (3): Improvement Authority does not have an operati ng 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 approve d by the governing board. Furthermore, I certify that sufficient
investment liquidity and anticipate d revenues are available to meet the Authority's expenditure requirements for the
next six months.