2001 08 21 FAo •
_ INCORPMTW
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OF
94
Financing Authority
Agenda
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
August 21, 2001
3:00 PM
CALL TO ORDER
Beginning Res. No. FA 2001-03
ROLL CALL: Board Members: Adolph, Henderson, Perkins, Sniff, Chairman Pena
PUBLIC COMMENT
At this time, members of the public may address the Finance Authority on any
matter not listed on the agenda or scheduled for public hearing. Please complete a
"request to speak" form and limit your comments to three minutes.
For all Public Hearings on the agenda, a completed "request to speak" form must be
filed with the City Clerk prior to the Council beginning consideration of that item.
Please watch the timing device on the podium.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1. APPROVAL OF THE MINUTES OF JULY 17, 2001.
CONSENT CALENDAR
1. TRANSMITTAL OF THE TREASURER'S REPORT DATED JUNE 30, 2001.
2. TRANSMITTAL OF THE REVENUE AND EXPENDITURES REPORT DATED JUNE 30,
2001.
001
DEPARTMENT REPORTS - None
CHAIR AND BOARD MEMBERS' ITEMS - None
PUBLIC HEARINGS - None
ADJOURNMENT -Adjourn to a Regular Meeting of the Financing Authority to be held on September
18, 2001, in the City Council Chambers, 78-495 Calle Tampico, CA 92253.
DECLARATION OF POSTING
I, June S. Greek, Secretary of the La Quinta Financing Authority, do hereby declare that the
foregoing agenda for the La Quinta Financing Authority meeting of August 21, 2001, was posted
on the outside entry to the Council Chamber, 78-495 Calle Tampico and on the bulletin board at
the La Quinta Chamber of Commerce and at Stater Bros., 78-630 Highway 1 1 1, on Friday, August
17, 2001.
DATED: August 17, 2001
JUNE S. GREEK, CIVIC
Secretary, La Quinta Financing Authority
PUBLIC NOTICE
The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed for
the hearing impaired, please call the City Clerk's Office at 777-7025, 24-hours in advance of the
meeting and accommodations will be made.
Onn
Finance Authority Agenda Page 2 July 3, 2001
T a 0
4&f 4 Qu&&
COUNCIL/RDA MEETING DATE: August 21, 2001
Transmittal of Treasurer's Report
as of June 30, 2001
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Treasurer's Report dated June 30, 2001 for the La Quinta Financing
Authority.
FINDINGS AND ALTERNATIVES:
I certify that this report accurately reflects all pooled investments and is in
compliance with California Government Code Section 53645 as amended 1 /1 /86;
and is in conformity with City Code 3.08.010 to 3.08.070 Investment of Money and
Funds.
I hereby certify that sufficient investment liquidity and anticipated revenues are
available to meet next month's estimated expenditures.
Respectf)Ay submitted:
JolhnvM. Falconer,/Finance Director
Approved for submission by:
G
Thomas P. Genovese, City Manager
Attachment: Treasurer's Report, La Quinta Financing Authority
003
MEMORANDUM
TO: La Quinta City Council
FROM: John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for June 30, 2001
DATE: August 6, 2001
Attached is the Treasurer's Report for the month ending June 30, 2001. The report is submitted to
the City Council each month after a reconciliation of accounts is accomplished by the Finance Dept.
The following table summarizes the changes in investment types for the month:
Investment
Beginning
Purchased
Notes
Sold/Matured
Other
Ending
Change
Cash
$766,550
$2,556,103
(1)
$3,322,653
$2,556,103
LAIF
$8,859,754
0
0
8,859,754
0
US Treasuries (2)
$29,876,215
32,941
29,909,156
32,941
US Gov't Agencies (2)
$15,122,362
5,000,000
(5,000,000)
(12,322)
15,110,040
(12,322)
Commercial Paper (2)
$10,473,134
6,000,000
(10,500,000)
11,404
5,984,538
(4,488,596)
Mutual Funds
$10,552,621
0
1
294,268
10,258,353
294,268
Total
$75 650 636
$13 556 103
$15 794 268
$32 023
$73 444 494
$2 206 142
I certify that this report accurately reflects all pooled investments and is in compliance with the California
Government Code; and is in conformity with the City Investment Policy.
As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated
revenues are available to meet the pools expenditure requirements for the next six months. the City of
La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and the Bank of New York
Monthly Custodian Report to determine the fair market value of investments at month end.
Date
Director/Treasurer
Footnote
(1) The amount reported represents the net increase (decrease) of deposits and withdrawals from
the previous month.
(2) The amount reported in the other column represents the amortization of premium/discount for the
month on US Treasury, Commercial Paper and Agency investments.
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01
CITY OF LA QUINTA
BALANCE SHEET 06/30/01
ASSETS:
CITY CITY RDA RDA FA
FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND
CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL
POOLED CASH
(6,744,888.59)
17,840,849.81
102,572.46
11,198,533.68
LQRP INVESTMENT IN POOLED CASH
805,000.00
805,000.00
INVESTMENT T-BILL/NOTES & OTHER
51,144,000.00
51,144,000.00
AUTO MALL CASH
160,981.67
160,981.67
LQRP CASH
16,890.01
16,890.01
BOND REDEMPTION CASH
2O2,106.57
1,545.71
203,652.28
BOND RESERVE CASH
BOND PROJECT CASH
9,512,701.82
542,000.22
10.054,702 04
BOND ESCROW CASH
PETTY CASH
1,000.00
1,000.00
CASH & INVESTMENT TOTAL
44,561,093.08
28,377,548.21
646,118.39
73,584,759.68
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
309,499.31
60,900.00
7,750,000.00 8,120,399.31
PREMIUM/DISCOUNT ON INVESTMENT
(140,265.69)
(140,265,69)
LQRP-ACCOUNTS RECEIVABLE
88,299.11
88,299.11
INTEREST RECEIVABLE
477,057.38
477,057,38
LOAN/NOTES RECEIVABLE
2,861,382.64
2,861,382.64
DUE FROM OTHER AGENCIES
1,092,869.90
260,386.80
1,353,256.70
DUE FROM OTHER AGENCIES - CVAG
2,299,096.69
2,299,096.69
CVAG ALLOWANCE
(2,299,096.69)
(2,299.096,69)
DUE FROM OTHER GOVERNMENTS
1,106,057.96
1,106,057.96
DUE FROM OTHER FUNDS
1,059,126.58
551,038.04
1.610,164 62
DUE FROM RDA
8,497,650.20
8,497,550 20
INTEREST ADVANCE -DUE FROM RDA
2,885,983.38
2,885,983,38
ADVANCES TO OTHER FUNDS
89,434.26
89,434.26
NSF CHECKS RECEIVABLE
3,861.01
3.86101
ACCRUED REVENUE
833.40
833.40
TRAVEL ADVANCES
1,624.00
1,624.00
EMPLOYEE ADVANCES
PREPAID EXPENSES
271,065.33
3,515.00
274,580.33
RECEIVABLE TOTAL
15,653,863.62
3,826,354.99
7,750,000.00 27,230,218.61
WORKER COMPENSATION DEPOSIT
RENT DEPOSITS
UTILITY DEPOSITS
75.00
75.00
MISC. DEPOSITS
2,100.00
2,100.00
DEPOSITS TOTAL
2,175.00
2,175.00
GENERAL FIXED ASSETS
1,460,862.67 15,750,077.00
9,988,279.05
27,199,218.72
ACCUMULATED DEPRECIATION
(812,743.27)
(812,743.27)
AMOUNT AVAILABLE TO RETIRE LIT DEBT
3,395,117.03
3,395,117.03
AMOUNT TO BE PROVIDED FOR LIT DEBT
836,449.65
91,416,222.85
7,750,000.00 100,002,672.50
TOTAL OTHER ASSETS
648,119.40 15,750,077.00
836,449.65 9,988,279.05
94,811,339.88
7,750,000.00 129,784,264,98
TOTAL ASSETS
60,865,251.10 15,750,077.00
836,449.65 32 203,903 20 9,988,279.05
94,811,339.88
8,396,118.39 7,750,000,00 230 601 418 27
LIABILITIES:
ACCOUNTS PAYABLE
2,433,787.99
55,225.21
2,489,013.20
DUE TO OTHER AGENCIES
611,579.19
730,884.56
1,342,463.75
DUE TO OTHER FUNDS
547,608.02
1,318,207.97
1,865,815.99
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
14,421.39
16,468.50
30.889.89
PAYROLL LIABILITIES
78,536.15
78.536.15
STRONG MOTION INSTRUMENTS
1.00
1.00
FRINGE TOED LIZARD FEES
78,981.50
78.981.50
SUSPENSE
(40.00)
(40.00)
DUE TO THE CITY OF LA QUINTA
89,434.26
89,434.26
PAYABLES TOTAL
3,854,309.50
2,120,786.24
5.975,095,74
ENGINEERING TRUST DEPOSITS
SO. COAST AIR QUALITY DEPOSITS
ARTS IN PUBLIC PLACES DEPOSITS
466,695.23
466.695 23
LQRP DEPOSITS
14,283.00
14.263,00
DEVELOPER DEPOSITS
942,442.09
942,442.09
MISC. DEPOSITS
439.539.50
439,539.50
AGENCY FUND DEPOSITS
2,114,365.34
2,114,365,34
TOTAL DEPOSITS
3,963,042.16
14,283.00
3,977,325.16
DEFERRED REVENUE
113,800.00
7,750,000.00 7,863,800.00
OTHER LIABILITIES TOTAL
113,800.00
7,750,000.00 7,863,800.00
COMPENSATED ABSENCES PAYABLE
258,138.65
258.138.65
DUE TO THE CITY OF LA QUINTA
578,311.00
11,383,537.38
11,961,848.38
DUE TO COUNTY OF RIVERSIDE
10,345,397.00
10,345,397.00
DUE TO C.V. UNIFIED SCHOOL DIST.
8,747,405.50
8.747,405 50
DUE TO DESERT SANDS SCHOOL DIST.
BONDS PAYABLE
64,335,000.00
7,750,000.00 72,085,000.00
TOTAL LONG TERM DEBT
836.449.65
94,811,339.88
7,750,000.00 103,397.789 53
TOTAL LIABILITIES
7,931,151.66
836,449.65
2,135,069.24
94,811,339.88
7,750,000.00 7,750.000,00 121,214,010,43
EQUITY -FUND BALANCE
52,934,099.44 15,750,077.00
30,068,833.96 9,988,279.05
646.118.39 109,387,407.84
TOTAL LIABILITY & EQUITY 60.865.251.10 15,750,077.00 836,449 65 32,203,903.20 9,988,270.05 04,811,33988 8,396,11839 7,750,00000 230,601.418 27
CASH & INVESTMENT TOTAL 73,584,759.68
PREMIUMIDISCOUNT ON INVESTMENT (140 65.69►
TOTAL 73,444,493.99 09
oil.
v •
JNCO ^=
4
c� OF AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE:
August 21, 2001 CONSENT CALENDAR: v�•-�
ITEM TITLE:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Revenue and Expenditure Report dated
June 30, 2001
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
Transmittal of the June 30, 2001 Statement of Revenue and Expenditures Report for
the La Quinta Financing Authority.
Respotfully submjfite
Joh-h M. Fdlco0er, Finance Director
Approved for Submission by:
I =—
b
Thomas P. Genovese
City Manager
Attachments:
1 . Revenue and Expenditures, June 30, 2001
0to
LA QUINTA FINANCING AUTHORITY
REVENUE DETAIL REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
DEBT SERVICE REVENUE:
Contractual Services Fees
Non Allocated Interest
Rental Income
Transfer In
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT REVENUE:
Pooled Cash Allocated Interest
Non Allocated Interest
TOTAL CIP REVENUE
9,175.00
27,615.35
0.00
1,513.56
678,955.00
678,955.00
0.00
0.00
(18,440.35)
301.0%
(1,513.56)
0.0%
0.00
100.0%
0.00
0.0%
688,130.00 708,083.91 (19,953.91) 102.9%
0.00 1,480.44 (1,480.44) 0.0%
0.00 47,034.33 (47,034.33) 0.0%
0.00 48,514.77 (48,514.77) 0.0%
TOTAL FINANCING AUTHORITY 688,130.00 756,598.68 (68,468.68) 109.9%
013
0
LA QUINTA FINANCING AUTHORITY
Expenditure SUMMARY
DEBT SERVICE Expenditures
SERVICES
BOND PRINCIPAL
BONDINTEREST
TRANSFER OUT
TOTAL DEBT SERVICE
CAPITAL Improvement Expenditures
TRANSFER OUT
TOTAL CAPITAL IMPROVEMENT
07/01/2000 - 6/30/2001 REMAINING %
BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED
9,175.00
260,000.00
418,955.00
0.00
9,132.50
260,000.00
418,955.00
0.00
0.00
0.00
0.00
0.00
42.50
0.00
0.00
0.00
99.5%
100.0%
100.0%
0.0%
688,130.00
688,087.50
0.00
42.50
100.0%
517,731.78
0.00
0.00
517,731.78
0.0%
517,731.78
0.00
0.00
517,731.78
0.0%
TOTAL FINANCING AUTHORITY 1,205,861.78 688 087.50 0.00 517,774.28 57 06%
014
003