IA SR 20200804 C - June 2020 Treasurer Report
IMPROVEMENT AUTHORITY MEETING DATE: 08/04/2020
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the June 2020 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the June 2020 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: Trang Nguyen, Director of Finance
APPROVED BY: Ara Mihranian, AICP, 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 $24,739 during the
month, ending with an overall balance of $1,208,725 on June 30, 2020. The increase
was due to the quarterly interfund transfer in accordance with the F iscal Year 2019-20
budget. The operating expenses included disbursements to White Nelson Diehl for the
first payment of the annual audit and Southern California Edison (SCE) for utility bills.
This June report reflects preliminary numbers and the final report will be submitted after
year-end adjustment is completed.
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RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER REPORT
JUNE 2020 (PRELIMINARY)
The June Treasurer Report will be re-submitted after the year•nd adjustment is completed
Investment
Local Agency Investment
Fund-lA
local Agency Investment
Fund -RDA
NOTE (1)
Issuer of
Investment
State ofCA
State ofCA
Acquisition
Date
N/A
N/A
Maturity Market
Date Value
On Demand $ 1 ,390,1 90
On Demand $ 1,989
NOTE (2)
Sub-Total Investment:
Book Current
Value Yield
$ 1 ,390,190 1.22%
$ 1,989 1.22%
$ 1,392,179
YTD Transfers to City's Operating Account (BOW) N/A N/A $ (1 83,454)
Total Investment: $ 1,208,725
Total Investment Weighted Average Return 1.22%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 1 ,988 .92 1 ,390,190 .31 1 ,392,179.23
YTD TRANSFERS TO BOW (208, 192.93) (208, 192.93)
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNINGS• 0.00
LESS: CURRENT CHECKS (1 ,510.95) (1 ,510.95)
ADJUSTMENTS 0.00
PLUS: TRANSFERS IN 26,250.00 26,250.00
LESS: TRANSFERS OUT 0.00
ENDING BALANCE (183,453 .88) 1,988.92 1 ,390,190 .31 1,208,725.35 0 .00
• All interest (LA IF) 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
lA -ABALONE COVE MAINT 1 '113,874 .29 12,500.00 1,510.95 1,124,863.34 10,989.05 1%
lA -PORTUGUESE BEND MAINT 70,112 .01 13,750.00 0.00 83 ,862 .01 13,750.00 20%
1 '183,986.30 26,250 .00 1,510.95 1 ,208, 725.35 24 ,739.05 2%
Total Investment: 1,208,725.35
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 expenditure requirements for the
next six months.
Respectfully submitted ,
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