IA SR 20230718 I - IA June 2022 Final Treasury Report
IMPROVEMENT AUTHORITY MEETING DATE: 07/18/2023
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the June 2022 final 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: Brittany Ruiz, Interim 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 September 6, 2022 City Council
meeting for the Council’s approval. The annual audit for Fiscal Year 2021 -2022 was
completed and the City’s Comprehensive Annual Financial Report (CAFR) was presented
at the May 16, 2023 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 decreased by $2,432 during
the month, ending with an overall balance of $1,142,457 on June 30, 2022. The decrease
was due to operating expenses, including disbursements to Southern California Edison
(SCE) for utility bills and year-end adjustments. The quarterly interfund transfer was offset
by the operating expenses.
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Investment
Local Agency Investment
Fund · IA
Local Agency Investment
Fund · RDA
NOTE (1)
RANCHO PALOS VERDES IMPROVEMENT A UTHORITY
M ONTHLY T REASURER REPORT
Issuer of
Inve stment
State of CA
State of CA
JUNE 2022 (FINAL)
Acquisition Maturity Market
Date Date V alue
NIA On Demand $ 1 ,155,268
NIA On Demand $ 2,011
NOTE (2)
S ub-Total Investment:
Book Cumint
Value Y ield
$ 1 ,155.268 086%
$ 2.011 0 66%
s 1 ,157.300
YTO Transfers to City's Operating Account (BOW) NIA NIA $ (14,843)
I T otal Investment: $ 1,142,457
Total Investment Weighted Average Return 0.86%
OPERATING
EXPENSES/
NOTE (3) LAIF-ROA LAIF-IA TOTAL CASH R ECEIVED
BEGINNING BALANCE 2 ,011 37 1 ,169,288.4 0 1 ,171 ,299.77
YTD TRANS FERS TO BOW (26,4 11.04) (26,411 .04)
PLUS: DEPOSITS I 0 .00
PLUS: INTEREST EARNINGS• 0 .00
LESS: CURRENT CHECKS (16,181 .59) (16,181 .59)
ADJUSTMENTS I 13,750.00 13,750.00
PLUS:TRANSFERSIN 14,000.00 14,000.00
LESS TRANSFERS OUT (14,000.00) (1 4 ,000.00)
ENDING BALANCE (1 4 ,84 2.63) 2,011 .37 1. 155,286.40 1 ,14 2 ,457.14 0 .00
'All i nterest (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 MAlf'IT
IA -PORTUGUESE BEND M AINT
1,079,446.99 0 .00 14,910.60 1,064,536.39 (1 4 ,910 60) -1%
65,44 1.7 4 13,750.00 1 ,270 .99 77,920.75 12,479.01 19%
1,144,888.73 13,750.00 16,181 .59 1,142,457.14 (2 ,431 .59) 0%
Total Investment. 1,142,457 .14
NOTE (1): Includes only the portion attributable to the Improvement Authority. Improvement Authority monies are combined w ith
Redevelopme1 t Age ncy monies in this LAIF account.
NOTE (2): LAIF market values will be reported to v ary from book value if the Authority calculated share of total LAIF assets is less than the
Authority book value.
NOTE (3): l mprovement
1
Authorlty does not have an o perating aceotJnt: the expenses are paid from the City's operating account and allocated accordingly
to the Improvement Authority's cash funds.
I
To the best of my knowledge. there are no misstatements or 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 inve stments and complie s wit h the investment
policy of the Improvement Authority as approved by the governing board. Furthermore, I certify that sufficient
investment liquidity and anticipate d revenues are available to meet the Authority's expenditure requiremen ts for the
next six months.
Respectfully subm itted,
f&P tb ~ ✓ ,J 11 I l,5
Tre~ ,$..> Dated
A-1