IA SR 20220906 D - IA Treasurer Report June 2022
IMPROVEMENT AUTHORITY MEETING DATE: 09/06/2022
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the June 2022 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the June 2022 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 $12,468 during the month,
ending with an overall balance of $1,157,357 on June 30, 2022. The increase was due to
the quarterly interfund transfer in accordance with the Fiscal Year 21-22 Budget. The
operating expenses included disbursements to Southern California Edison (SCE) for
utility bills.
This June report reflects preliminary numbers, and the final report will be submitted after
year-end closing and audit are completed.
1
In vestment
Local Agency Investment
Fund -IA
Local Agency In vestment
Fund -RDA
NOTE(1)
RANCHO PALOS VERDES IMPROVEMENT AUTHOR ITY
MONTHLY TREASURER REPORT
Issuer of
Investment
State of CA
State of CA
JUNE 2022
Acquisition Maturity Market
Date Date Value
N/A On Demand $ 1,155,288
NIA On Demand $ 2,011
NOTE (2)
Sub-Total Investment:
Book Current
Value Yield
$ 1,155,288 0.86%
$ 2,011 0.86%
$ 1,157,300
YTD Transfers to City's Operating Account (BOW) N/A N/A $ 57
Total Investment: $ 1,157,357
Total Investment Weighted Average Return 0.86%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECE IVED
BEGINNING BALANCE 2,011.37 1,169,288 .40 1,171,299.77
YTD TRANSFERS TO BOW (26,411.04) (26,411 .04)
PLUS: DEPOS ITS 0.00
PLUS: INTEREST EARNINGS* 0.00
LESS: CURRENT CHECKS (1,281.59) (1,281.59)
ADJUSTMENTS 13,750.00 13,750.00
PLUS: TRANSFERS IN 14 ,000 .00 14 ,000 .00
LESS: TRANSFERS OUT (14,000.00) (14,000.00)
ENDING BALANCE 57.37 2,011.37 1 ,155,288.40 1,157,357.14 0.00
*A ll interest (LAIF) is paid quarterly.
% Change of
Change In Cash Balance
BALANCE ENDING Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CRED IT CASH Balance Month-End
IA-ABALONE COVE MAINT 1,079,446.99 0.00 915.76 1,078,531.23 (915.76) 0%
IA -PORTUGUESE BEND MAINT 65,441.74 13,750.00 365.83 78,825.91 13,384.17 20%
1,144,888.73 13,750.00 1,281.59 1,157,357.14 12,468.41 1%
Total Investment: 1,157,357.14
NOTE (1): Includes only the portion attributab le to the Improvement Authority. Improvement Authority monies are comb in ed with
Redevelopment Agency monies in this LAIF account.
NOTE (2): LAIF market values will be reported to vary from book value if the Authority ca lculated 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 in gly
to the Improvement Authority's cash funds.
To the best of my knowledge, there are no misstatements of materia l 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 Im provement Authority as approved by the governing board. Furthermore, I certify that sufficient
investment liquidity and anticipated revenues are availab le to meet the Authority's expenditure requirements for the
next six months.
The June Treasurer Report will be re-submitted after the year-end clos ing process and audit are completed.
A-1