IA SR 20240206 C - IA December 2023 Treasury Report
IMPROVEMENT AUTHORITY MEETING DATE: 02/06/2024
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the December 2023 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the December 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 increased by $3,513 during the month,
ending with an overall balance of $1,174,586 on December 31, 2023. The increase was
due to the quarterly interfund transfer in accordance with the Fiscal Year 2023-24 budget.
The operating expenses included disbursements to Southern California Edison (SCE) for
utility bills.
1
Invest ment
Local Agency Investment
Fund -IA
Local Agency Investment
Fund -RDA
NOTE (1)
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
MONTHLY TREASURER REPORT
DECEMBER 2023
Issuer of
Investment
Acquisition
Date
Maturity Market
Date Value
State of CA N/A On Demand $ 1,173,993
State of CA NIA On Demand $ 2 ,081
NOTE (2)
Sub-Total Investment:
Book Current
Value Yield
$ 1 ,173,993 3.93%
$ 2 ,081 3.93%
$ 1 ,176,074
YTD Transfers to City's Operating Account (BOW) N/A N/A $ (1,488)
Total Investment: $ 1,174,586
Total Investment Weighted Average Return 3.93%
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 (5,001.34) (5,001.34)
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNINGS* 0.00
LESS: CURRENT CHECKS (236.78) (236.78)
ADJUSTMENTS 3 ,750.00 3 ,750.00
PLUS:TRANSFERS IN 0.00
LESS : TRANSFERS OUT 0.00
ENDING BALANCE (1,488.12) 2,080.93 1.173,993.02 1,174 ,585.83 0.00
*All interest (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 MAINT 1,088,661.58 170.39 1 ,088 ,4 91.19 (170.39) 0%
IA -PORTUGUESE B END MAINT 82 ,4 11 .03 3,750.00 66.39 86 ,094.64 3 ,683.61 4%
1,171 ,072.61 3,750.00 236.78 1,174 ,585.83 3 ,513.22 0%
Total Investment: 1,174 ,585.83
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 va lue if the Authority calculated share of total LAIF assets is less than t he
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. Furthermore , I certify that sufficient
investme nt liquidity and anticipated revenues are available to meet the Authority's expenditure requirements for the
next six months.
Respectfully submitted , ~& \-'2S-'v~
Treasurer Dated
A-1