IA SR 20240806 C - IA June 2024 Treasury Report
IMPROVEMENT AUTHORITY MEETING DATE: 08/06/2024
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the June 2024 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the June 2024 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 $3,663 during the month,
ending with an overall balance of $1,199,954 on June 30, 2024. The increase was due to
the quarterly interfund transfer in accordance with the FY23-24 Budget. The operating
expenses included disbursements to Southern California Edison (SCE) for the utility bills.
It is important to note that the June report reflects preliminary numbers; the final report
will be submitted upon completion of the year-end closing.
1
I nvestment
Loca l Agency Investment
Fund -IA
Loca l Age ncy Investment
Fund -RDA
NOTE (1)
RANC HO PALOS VERDES IMPROVEMENT AUTHORITY
PRELIM INARY MONTHLY TREASURER REPORT
JUNE 2024
Issuer of
Investment
Acquisition
Date
Maturity Market
Date Va lue
State of CA
State of CA
N/A
N/A
On Demand $ 1,193,457
On Demand $ 2 ,124
NOTE (2)
Sub-Tota l Investment :
Book Current
Va lue Yield
$ 1,193,45 7 4.48%
$ 2 ,124 4 .48 %
$ 1,195 ,581
YTD Transfers to City's Operating Account (BOW) N/A N/A $ 4 ,373
Total Investment: $ 1,199,954
Total Investment Weighted Average Return 4.48%
OPERATING
EXPENSES/
NOTE (3) LA IF-RDA LAIF -IA TOTAL CASH RECEIVED
BEGINN ING BALANCE 2 ,124 .30 1,198 ,456 .98 1,200 ,581 .28
YTD TRANSFERS TO BOW (4,289.99) (4,289 .99)
PLUS : DEPOSITS 0 .00
PLUS : INTEREST EARNINGS* 0 .00
LESS : CURRENT CHECKS (87 .27) (8 7.27)
ADJUSTMENTS 3 ,750 .00 3,750 .00
PLUS :TRANSFERSIN 5 ,000 .00 5 ,000 .00
LESS : TRANSFERS OUT (5,000 .00) (5 ,000 .00)
ENDING BALANCE 4 ,372 .74 2 ,124 .30 1,193,456 .98 1,199 ,954 .02 0 .00
*All interest (LA IF) is paid quarterly .
% Change of
Change In Cash Balance
BALANCE END ING Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Ba lance Month-End
IA -ABALONE COVE MA INT 1,105 ,3 34 .04 0.00 27 .14 1,105 ,306 .90 (27 .14) 0%
IA -PORTUGUESE BEND MAINT 90 ,957 .25 3 ,750.00 60 .13 94 ,647 .12 3,689.87 4%
1,196,291.29 3,750 .00 87 .27 1,199 ,954 .02 3,662 .7 3 0%
Total Investment: 1,199,954 .02
NOTE (1): Includes only the portion attributable to the Improvement Authority . Improvement Authority monies are combined with
Redeve lopment Agency monies in this LAIF account .
NOTE (2): LA IF market values will be reported to vary from book va lue 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 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 . Furth e rmore , I certify that suffic ient
investment liquidity and anticipated revenues are available to meet the Authority's expend iture requirements for the
next si x months .
Respectfully submitted ,
A-1