IA SR 20210302 D - June 2020 Final Treasurer Report
IMPROVEMENT AUTHORITY MEETING DATE: 03/02/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the June 2020 final Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the June 2020 final 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 preliminary cash balance report was submitted at the August 4, 2020 City Council
meeting for Council’s approval. The annual audit for Fiscal Year 2019-2020 was
completed and the City’s Comprehensive Annual Financial Report (CAFR) was
presented at February 2, 2021 City Council meeting. This report represented the final
balance for each fund. There were no changes from the preliminary report.
In summary, the cash balances of the Improvement Authority increased by $24,739
during the month, ending with an overall balance of $1,208,725 at June 30, 2020. The
increase was due to the quarterly interfund transfer in accordance with the Fiscal 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.
1
Investment
Local Agency Investment
Fund -lA
Local Agency Investment
Fund-RDA
NOTE (1)
RANCHO PALOS VERDES IMPROVEMENT AUTHORI TY
MONTHLY TREASURER REPORT
l .. u erof
In vestment
State ofCA
State ofCA
JUNE 2020 (FINAL)
Acquisition Matu rity Market
Date Date Value
N/A On Demand $ 1,390,190
NIA On Demand $ 1,989
NOTE (2)
Sub-Total Inves tment:
Book Curn1nt
Value Yield
$ 1,390,1 90 1.22%
$ 1,989 1.22%
$ 1,392,179
YTD Transfers to City's Operating Account (BOW) N/A N/A $ (183 ,454)
Total investment: s 1,208,725
Total Investment Weighted Average Return 1.22%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEG INNING 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 EARNI NGS* 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 (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 ,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 Improvem ent Authority. Improvement Authority monies are commingled with
Redevelopment Agency monies in this LAIF account.
NOTE (2): LAIF mat"Xet 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 investment s and complies with the investment
policy of the Improvement Authority as approved by the governing board. Furthermore, I certify that sufficient
invest ment liquidity and anticipated revenues are available to meet the Authority's expenditure requirements for the
next six months.
Respectfully submitted,
A-1