IA SR 20230207 E - IA Dec 2022 Treasury Report
IMPROVEMENT AUTHORITY MEETING DATE: 02/07/2023
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the December 2022 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the December 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 $3,562 during the month,
ending with an overall balance of $1,14 9,307 on December 31, 2022. The increase was
due to the quarterly interfund transfer in accordance with the Fiscal Year 2022-23 budget.
The operating expenses included disbursements to Southern California Edison (SCE) for
utility bills.
1
Invest ment
Local Agency Invest ment
Fund -IA
Local Agency Investment
Fund -RDA
NOTE (1)
RANCHO PALOS VERDES IMPROVEMENT AUT HO R ITY
MONTHLY TREASURER REPORT
DEC EMBER 2022
Issuer of
Investment
Acqu isition
Date
Maturity Market
Date Value
State of CA N/A On Demand $ 1,161,415
State of CA N/A On Demand $ 2,022
NOTE (2)
Sub-Tota l Investment:
Book Cu rrent
Value Yield
$ 1,161,415 2 .17%
$ 2 ,022 2 .17%
$ 1,163,437
YTD Transfers to City's Operating Account (BOW) NIA N/A $ (14 ,130)
Tota l I nvestment: $ 1,149,307
Total Investme nt Weighted Average Return 2.17%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 2 ,022 .00 1 ,161 ,415.14 1,163,437 .14
YTD TRANSFERS TO BOW (17 ,691 .99) (17,691 .99)
PLUS: DEPOSITS 0 .00
PLUS : INTEREST EARNINGS• 0 .00
LESS: CURRENT CHECKS (188 .26) (188.26)
ADJUSTMENTS 3,750.00 3,750 .00
PLUS:TRANSFERSIN 0.00
LESS: TRANSFERS OUT 0 .00
ENDING BALANCE (1 4 ,130 .25) 2 ,022 .00 1,161 ,415.14 1,149,306 .89 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
IA -ABALONE COVE MAINT 1,073 ,747 .93 0.00 131 .44 1,073 ,616.49 (131 .44) 0%
IA -PORTUGUESE BEND MAINT 71,997.22 3,750.00 56 .82 75,690.40 3,693.18 5%
1,145,745.15 3 ,750 .00 188.26 1,149,306 .89 3,561 .74 0%
Total Investment: 1,149,306.89
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 market values will be reported to vary from book value if the Authori ty 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 C ity'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
next six months.
A-1