IA SR 20230801 F - IA June Treasury Report
IMPROVEMENT AUTHORITY MEETING DATE: 08/01/2023
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the June 2023 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the June 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, CPA, 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 $1,100 during the month,
ending with an overall balance of $1,155,990 on June 30, 2023. 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.
This June report reflects preliminary numbers, and the final report will be submitted after
year-end closing and audit are completed.
1
Investment
Local Agency Investment
Fund· IA
Local Agency Investment
Fund -RDA
NOTE (1)
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER. REPORT
Issuer of
Investment
Slate of CA
State of CA
JUNE 2023 (Preliminary)
Acquisition Maturity Market
Data Date Value
NIA On Demand $ 1,154,351
NIA On Demand $ 2,046
NOTE (2)
Sub-Total Investment:
Book Current
Value Yleld
$ 1,154,351 3.62%
s 2,046 3.62%
$ 1,156,397
YTD Transfers to City's Operating Account (BOW) NIA NIA $ (407)
Total Investment: $ 1,155,990
Total Investment Weighted Average Return 3.62%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 2,046.26 1,154,350.97 1,156,397.23
YTD TRANSFERS TO BOW (1,500,43) (1,500.43}
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNINGS* 0.00
LESS: CURRENT CHECKS (2,656.46) (2,656 .46)
ADJUSTMENTS 3,750.00 3,750.00
PLUS:TRANSFERSIN 0.00
LESS: TRANSFERS OUT 0.00
ENDING BALANCE (406.89) 2,046.26 1,154,350.97 1,155,990.34 0.00
• All interest (LAIF) is paid quarterly.
% Change of
Change In Cash Balance
CASH BALANCES BY FUND
BALANCE ENDING Ending Cash from Previous
FORWARD DEBIT CREDIT CASH Balance Month-End
IA -ABALONE COVE MAINT
IA -PORTUGUESE BENO MAINT
1,079,084 .61 000 2,08310 1,077,001.51 (2,083.10) 0%
75,812.19 3,750.00 573.36 78,988.83 3,176.64 4%
1 ,154,896.80 3,750.00 2,656.46 1 ,155,990.34 1,093.54 0%
Tolal Investment 1,155,990.34
NOTE (1): Includes only the portion attributable to the lmprovemenl Authority. Improvement Aulhority monies are combined with
Redevelopmenl Agency monies in this LAIF account.
NOTE (2): LAIF market values will be reported to vary from book value if the Aulhority calculated share of total LAIF assets is less than the
Authority book value.
NOTE (3): Improvement Aulhority does not have an operating account; the expenses are paid from the Cily's operating account and allocated accordingly
to the Improvement Authorily's cash funds.
To the best of my knowledge, there are no misslatements of material amounls 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 lhe 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.
R~ectfully submitted ,
~, ... /th-Dated
A-1