IA SR 20230502 C - IA Jan 2023 Treasury Report
IMPROVEMENT AUTHORITY MEETING DATE: 05/02/2023
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the January 2023 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the January 2023 Cash Balances/Monthly Treasurer’s Report.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Vina Ramos, Deputy Director of Finance
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 decreased by $88 during the month,
ending with an overall balance of $1,14 9,219 on January 31, 2023. The decrease was a
combination of payment for operating expenses and offset by interest earnings. The
operating expenses included disbursements to CLA for financial audit services and
Southern California Edison (SCE) for the utility bills.
1
Acquisition Maturity Market Book Current
Investment Date Date Value Value Yield
Local Agency Investment
Fund - IA State of CA N/A On Demand 1,167,482$ 1,167,482$ 2.43%
Local Agency Investment
Fund - RDA State of CA N/A On Demand 2,033$ 2,033$ 2.43%
NOTE (1)NOTE (2)
Sub-Total Investment:1,169,515$
YTD Transfers to City's Operating Account (BOW) N/A N/A (20,296)$
Total Investment:1,149,219$
Total Investment Weighted Average Return 2.43%
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 (14,130.25)(14,130.25)
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNINGS*10.56 6,067.19 6,077.75
LESS: CURRENT CHECKS (6,165.64)(6,165.64)
ADJUSTMENTS 0.00
PLUS: TRANSFERS IN 0.00
LESS: TRANSFERS OUT 0.00
ENDING BALANCE (20,295.89)2,032.56 1,167,482.33 1,149,219.00 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 1,073,616.49 5,690.00 3,338.74 1,075,967.75 2,351.26 0%
IA - PORTUGUESE BEND MAINT 75,690.40 387.75 2,826.90 73,251.25 (2,439.15)-3%
1,149,306.89 6,077.75 6,165.64 1,149,219.00 (87.89)0%
Total Investment:1,149,219.00
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 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 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.
Respectfully submitted,
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER REPORT
JANUARY 2023
Issuer of
Investment
A-1