IA SR 20201104 C - September Treasurer Report
IMPROVEMENT AUTHORITY MEETING DATE: 11/04/2020
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the September 2020 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the September 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 $73 during the month,
ending with an overall balance of $1,211,413 on September 30, 2020. The increase was
due to the quarterly interfund transfer in accordance with the Fiscal Year 2020-21
budget. The operating expenses included disbursements to the Abalone Cove
Landslide Abatement District for maintenance of wells and to Southern California
Edison (SCE) for utility bills.
1
In vestme nt
Local Agency Inves t ment
Fund -lA
Local Agency Investment
Fund-RDA
NOTE(1)
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER REPORT
SEPTEMBER 2020
Issuer of
I nv estment
Acquis iti on
Date
Maturi ty Market
Date Value
State ofCA N/A On Demand $ 1,395,263
State of CA N/A On Demand $ 1,996
NOTE (2)
Sub-Total i nvestment:
Book Cu rrent
Value Yi eld
$ 1,395,263 0.69%
$ 1,996 0.69%
$ 1,397,259
YTD Transfers to City's Operating Account (BOW) N/A N/A $ (185,846)
Total invest ment : $ 1,21 1,41 3
Total Investment We i ghted Average Return 0.69%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 1,996.18 1,395,262 .84 1,397,259.02
YTD TRANSFERS TO BOW (185,919.48) (185,919.48)
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNINGS• 0.00
LESS: CURRENT CHECKS (4,926.74) (4,926.74)
ADJUSTMENTS 5,000.00 5 ,000.00
PLUS: TRANSFERS IN 0.00
LESS: TRANSFERS OUT 0 .00
ENDING BALANCE (185,846.22) 1,996.18 1,395,262 .84 1,211,412 .80 0 .00
•All interest (LAIF) 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 ,127,370.28 0.00 2 ,853.25 1,124,517.03 (2,853.25) 0%
lA -PORTUGUESE BEND MAINT 83,969.26 5,000.00 2,073.49 86 ,895.77 2 ,926 .51 3%
1,211,339.54 5,000.00 4,926.74 1,211 ,412.80 73.26 0%
Total Investment: 1,211,412.80
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 operating account; the expenses are paid from the City's operating account and allocated accord ingly
to the Improvement Au th ority'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 .
1 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,
to(~[~
Dated
A-1