IA SR 20230718 K - IA May 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 May 2023 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the May 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 decreased by $300 during the month,
ending with an overall balance of $1,154,897 on May 31, 2023. The decrease was due to
operating expenses, which included disbursements to Southern California Edison (SCE)
for utility bills.
1
Investment
Local Agency lnveslment
Fund -IA
Local Agency Investment
Fund-RDA
NOTE (1)
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER REPORT
MAY 2023
Issuer of Acquisition Maturity Market
Investment Date Date Value
State of CA NIA On Demand $ 1,154,351
State of CA NIA On Demand $ 2,046
NOTE (2)
Sub-Total Investment:
Book Current
Value Yield
$ 1,154,351 2 .99%
$ 2,046 2 .99%
$ 1,156,397
YTD Transfers to City's Operating Account (BOW) NIA NIA $ (1 ,500)
Total Investment: $ 1,154,897
Total Investment Weighted Average Return 2.99%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 2,046.26 1,175,350.97 1,177,397.23
YTD TRANSFERS TO BOW {22,200.61) (22,200.61)
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNINGS• 0.00
LESS: CURRENT CHECKS (299.82) (299.82)
ADJUSTMENTS 0 .00
P LUS:TRANSFERSIN 21,000.00 21,000.00
LESS: TRANSFERS OUT (21,000.00) (21,000.00)
ENDING BALANCE {1 ,500.43) 2,046.26 1,154,350.97 1,154,896.80 0.00
'All interest (LAIF) is paid ciuarterly.
% Change of
Change In Cash Balance
BALANCE ENDING Ending Cash from Previous
CASH BALANCES BY FU!'JD FORWARD DEBIT CREDIT CASH Balance Month-End
IA -ABALONE COVE MAINT
IA -PORTUGUESE BEN1 MAINT
1,079,310.45 0 .00 225 .84 1 ,079,0S4.61 (225.84) 0%
75,886.17 0 .00 73.98 75,812.19 (73.98) 0%
1,155,196.62 0.00 299.82 1,154,896.80 (299.82) 0%
Total Investment: 1,154,896.80
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 . Furthennore, 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,
~ &c:=: :£11!23
A-1