IA SR 20230718 J - IA April 2023 Treasury Report
IMPROVEMENT AUTHORITY MEETING DATE: 07/18/2023
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the April 2023 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the April 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: 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 cash balances of the Improvement Authority increased by $7,129 during the month,
ending with an overall balance of $1,155,197 on April 30, 2023. The increase was due to
Fiscal Year 2022-23 third-quarter interest earnings. The operating expenses included
disbursements to Southern California Edison (SCE) for utility bills.
1
Investment
Local Agency Investment
Fund · IA
Local Agency Investment
Fund-RDA
NOTE (1)
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
M ONTHLY TREASURER REPORT
Issuer of
Investment
State of CA
State of CA
A PRIL 2023
Acquisition Maturity Market
Date Date Value
N/A On Demand s 1,175,351
N/A On Demand $ 2,046
N OTE (2)
Sub-Total Investment:
Book Current
Value Yleld
$ 1,1 75,351 2.87%
$ 2,046 2.87%
s 1,177,397
YTD Transfers to City's Operating Account (BOW) NIA NIA s (22,201)
Total Investment: $ 1 ,155,197
Total I nvestment Weighted Average Return 2 .87%
OPERATING
EXP ENSES/
N OTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 2,032.56 1,167,482.33 1, 169 ,51◄ .89
YTD TRANSFERS TO BOW (21 ,447.57) (21,447.57)
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNlr-J GS* 13.70 7,868.64 7 ,882.34
LESS: CURRENT CHECKS (928.71) (926.7 1)
ADJUSTMENTS 175.67 175.67
PLUS:TRANSFERSIN 0.00
LESS: TRANSFERS OUT 0.00
ENDING BALANCE (22,200.61) 2 ,046.26 1 ,175,350.97 1 ,155,196.62 0 .00
'All interest (LAIF) is paid quarterly.
% Change of
Change In Cash Balance
BALANCE E NDING Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT C REDIT CASH Balance Month-End
IA • ABALONE COVE MAINT 1,072,753.55 7,399.22 842.32 1,079,310.45 6 ,556.90 1%
IA -PORTUG UESE BENO MAINT 75,313.77 658.79 86.39 75,886.17 572 .◄ 0
1%
1,148,067.32 8,058.01 928.71 1,155,196.62 7,129.30 1%
Total Investment: 1,155,196.62
NOTE (1 ): lndudes only the portion attributable to the Improvement Authority. Improvement Authority monies are combined with
Redevelopmert Agency monies in this LAIF account.
NOTE (2): LAIF market values will be reported t o vary from book value if the Authority calculated share of total LAIF assets is less than the
Authority boof v alue.
NOTE {3): Improvement Authority does not have an operating account: the expenses are paid from the City's operaling account and alloca ted accordingly
to the Improvement Authority's cash funds.
To the best of my k nowledge, there are no misstatements of material amounts w ithin 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 lmprovemenl Authorit y as approved by the governi ng 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,
~ --j{ fre~ re::: Dated
A-1