IA SR 20240116 C - IA November Treasury Report
IMPROVEMENT AUTHORITY MEETING DATE: 01/16/2024
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the November 2023 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the November 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: Vina Ramos, Director of Finance VR
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 $969 during the month,
ending with an overall balance of $1,171,073 on November 30, 2023. The decrease was
due to operating expenses, which included disbursements to Southern California Edison
(SCE) for utility bills.
1
RANCHO PALOS VERDES IM PROV EM ENT A UTHORITY
M ON T HLY T REASURER REPORT
NOVEMBER 2023
Is s uer of A cquisition Maturity Market Book Curren t
Investment Investme nt Date Date Value Value Yield
Local Agency Investment
Fund -IA State of CA N/A On Demand $ 1,173,993 $ 1,173,993 3.84%
Local Agency Investment
Fund-RDA State of CA N/A On Demand $ 2,081 $ 2 ,081 384%
NOTE (1) NOTE (2)
Sub-Total Investment: $ 1,176,074
YTD Transfers to City's Operating Account (BOW) N/A N/A $ (5,001)
Total Investment: $ 1,171,073
Total Investment W ei ghted Average Return 3.84%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 2,080.93 1,173,993.02 1,176,073.95
YTD TRANSFERS TO BOW (4 ,032.53) (4 ,032.53)
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNINGS* 0 .00
LESS: CURRENT CHECKS (968.81 ) (968.81 )
ADJUSTMENTS 0.00
PLUS :TRANSFERSIN 0.00
LESS: TRANSFERS OUT 0.00
ENDING BALANCE (5,001.34) 2,080.93 1,173,993.02 1,171 ,072.61 0.00
*All interest (LAIF) is paid quarterly.
% Change of
Change In Cash Ba lance
BALANCE ENDING Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month-End
IA -ABALONE COVE MAINT 1,089 ,526.11 38.78 903.31 1,088,661.58 (864.53) 0 %
IA -PORTUGUESE BEND MAINT 82,515.31 149.68 253.96 82,411.03 (1 04.28) 0%
1,172,041 .42 188.46 1,157.27 1,171 ,072.61 (968.81) 0%
Total Investment: 1,171,072 .61
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 asset s 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 according ly
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 avai lable to meet the Authority's expenditure requirements for the
next six months.
Respectfully submitted ,
Treasurer 1/£15
A-1