IA SR 20210202 D - IA December Treasurer Report
IMPROVEMENT AUTHORITY MEETING DATE: 02/02/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the December 2020 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the December 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 $2,124 during the month,
ending with an overall balance of $1,189,152 on December 31, 2020. The increase was
due to the quarterly interfund transfer in accordance with the F iscal Year 2020-21
budget. Operating expenses included disbursements to White Nelson Diehl Evans LLP
for annual audit service and Southern California Edison (SCE) for utility bills.
1
Investment
Lo cal Ag ency Investm ent
Fund-lA
l_ocal Agency Investment
Fund -RDA
NOTE(1)
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER REPORT
DECEMBER 2020
Issuer of
Investment
Acquisition
Date
Maturity Market
Date Value
State of CA N/A On Demand $ 1,398,226
State of CA N/A On Demand $ 2 ,000
NOTE (2)
Sub-Total Investment:
Book Current
Value Yield
$ 1,398,226 0.54%
$ 2.000 0.54%
$ 1,400,226
YTD Transfers to City's Operating Account (BOW) N/A N/A $ (211 ,074)
Total Investment: $ 1 '189, 152
Total Investment Weighted Average Return 0.54%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 2.00042 1,398,225.65 1,400,226.07
YTD TRANSFERS TO BOW (213,198.16) (213,1g8.16)
PLUS DEPOSITS 0.00
PLUS : INTEREST EARNINGS• 0 .00
LESS CURRENT CHECKS (2,875.87) (2 ,875.87)
ADJUSTMENTS 5,000.00 5 ,000.00
PLUS: TRANSFERS IN 0.00
LESS TRANSFERS OUT 0.00
ENDING BALANCE (211 ,074 .03) 2,000.42 1 ,398 ,225 .65 1,189,152.04 0.00
•Al l 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 1,117 ,899.77 0.00 780 .21 1,117 ,119.56 (780 .21) 0%
lA-PORTUGUESE BEND MAINT 69,12814 5,000.00 2,095.66 72 ,032.48 2,904.34 4%
1,187,027.91 5,000.00 2,875.87 1 '189 , 152.04 2,124.13 0%
Total Investment: 1,189,152.04
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): LA IF market values will be reported to vary from book value if the Authority calculated share of total LA IF 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
nex1 six months.
Respectfully submitted,
A-1