IA SR 20211102 D - IA Sept 2021 Treasurer Report
IMPROVEMENT AUTHORITY MEETING DATE: 11/02/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the September 2021 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the September 2021 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, Senior 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 $13,527 during the month,
ending with an overall balance of $1,177,614 on September 30, 2021. The increase was
due to the quarterly interfund transfer in accordance with the FY21-22 Budget. The
operating expenses included disbursements to Southern California Edison (SCE) for the
utility bills.
1
CITYOF RANCHO PALOS VERDES
A-1
Investment
Local Agency Investment
Fund-IA
Local Agency Investment
Fund-RDA
NOTE (1)
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER REPORT
SEPTEMBER 2021
Issuer of
Investment
Acquisition
Date
Maturity Market
Date Value
State of CA
State of CA
NIA
NIA
On Demand $ 1 ,166,985
On Demand $ 2,007
NOTE (2)
Sub-Total Investment:
Book Current
Value Yield
$ 1 ,166,985 0.21%
$ 2,007 0 .2 1%
$ 1 ,168,992
YTD Transfers to City's Operating Account (BOW) NIA NIA $ 8 ,622
Total Investment: $ 1,177,614
Total Investment Weighted Average Return 0.21%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 2 ,007.41 1,166,984 .86 1,168,992.27
YTD TRANSFERS TO BOW (4 ,905 .10) (4 ,905 .10)
PLUS: DEPOSITS 0 .00
PLUS: INTEREST EARNINGS* 0 .00
LESS : CURRENT CHECKS (222 .92) (222 .92)
ADJUSTMENTS 13,750.00 13,750.00
PLUS:TRANSFERSIN 0.00
LESS: TRANSFERS OUT 0.00
ENDING BALANCE 8 ,621 .98 2,007.41 1,166,984 .86 1 ,177,614.25 0.00
*Ail 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
IA -ABALONE COVE MAINT 1,104,802 .10 0.00 164 .99 1,104,637.11 (164.99) 0%
IA -PORTUGUESE BEND MAINT 59,285 .07 13,750.00 57 .93 72 ,977 .14 13,692.07 23%
1,164,087 .17 13,750.00 222 .92 1,177,614.25 13,527 .08 1%
Total Investment: 1 ,177,614.25
NOTE (1): Includes only the portion attributable to the Improvement Authority. Improvement Authority monies are combined with
Redevelopment Agency monies in this LAIF account.
NOTE (2): LAIF marl(et 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 ail 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 requ irements for the
next six months.
Respectfully submitted ,