2001 10 16 FAFinancing Authority
Agenda
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
Tuesday, October 16, 2001
3:00 PM
CALL TO ORDER
Beginning Res. No. FA 2001-03
ROLL CALL: Board Members: Adolph, Henderson, Perkins, Sniff, Chairman Pe~a
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 SEPTEMBER 18, 2001.
CONSENT CALENDAR
I ,
1
TRANSMITTAL OF THE TREASURER'S REPORT DATED AUGUST 31, 2001.
TRANSMITTAL OF THE REVENUE AND EXPENDITURES REPORT DATED AUGUST
31, 2001, AND INVESTMENT SUMMARY REPORT FOR THE QUARTER ENDING
SEPTEMBER 30, 2001.
BUSINESS SESSION - None
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 November
20, 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 October 16, 2001, was posted
on the outside entry to the Council Chamber, 78-49,5 Calle Tampico and on the bulletin board at
the La Quinta Chamber of Commerce and at Stater Bros., 78-630 Highway 111, on Friday, October
12, 2001.
DATED: October 12, 2001
JUNE S. GREEK, CMC
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.
002
Finance Authority Agenda Page 2 September 1 8, 2OO1
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE:
ITEM TITLE:
October 1 6, 2001
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
Transmittal of Treasurer's Report
as of August 31, 2001
PUBLIC HEARING:
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
Transmittal of Treasurer's Report dated August 31, 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.
Respee/tCully sub
~ n . alcon~r, Finance Director
Approved for submission by:
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 August 31,2001
DATE: September 24, 2001
Attached is the Treasurer's Report for the month ending August 31,2001. 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 $621,168 $10,828,633 (1) $11,449,801 $10,828,633
LAIF $12,627,030 2,400,000 0 15,027,030 2,400,000
US Treasuries (2) $27,441,733 34',311,000 (10,000,000) 242,593 51,995,326 24,553,593
US Gov'tAgencies (2) $15,134,293 8,000,000 (10,164,000) (34,028) 12,936,265 (2,198,028)
Commercial Paper (2) $5,984,628 (6,000,000) 15,372 0 (5,984,628)
Mutual Funds $10,288,205 11,720,702 (1 ) 0 22,008,907 11,720,702
Total~ $72 097 057 $67 260 335 ~~ $223 937 $113 417 329 $41 320 272
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
Report to determine the fair market value of investments at month end.
Monthly CusJ~dian
,af~ce 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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CITY OF LA QUINTA
BALANCE SHEET 08/31101
POOLED CASH
LQRP INVESTMENT IN POOLED CASH
INVESTMENT T-BILL/NOTES & OTHER
AUTO MALL CASH
LQRP CASH
BOND REDEMPTION CASH
BOND RESERVE CASH
BOND PROJECT CASH
BOND ESCROW CASH
PETTY CASH
CASH & INVESTMENT TOTAL
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
PREMIUM/DISCOUNT ON INVESTMENT
LQRP-ACCOUNTS RECEIVABLE
INTEREST RECEIVABLE
LOAN/NOTES RECEIVABLE
DUE FROM OTHER AGENCIES
DUE FROM OTHER AGENCIES - CVAG
CVAG ALLOWANCE
DUE FROM OTHER GOVERNMENTS
DUE FROM OTHER FUNDS
DUE FROM RDA
INTEREST ADVANCE-DUE FROM RDA
ADVANCES TO OTHER FUNDS
NSF CHECKS RECEIVABLE
ACCRUED REVENUE
FIXED ASSETS
ACCUMULATED DEPRECIATION
TRAVEL ADVANCES
EMPLOYEE ADVANCES
PREPAID EXPENSES
RECEIVABLE TOTAL
WORKER COMPENSATION DEPOSIT
RENT DEPOSITS
UTILITY DEPOSITS
MISC. DEPOSITS
DEPOSITS TOTAL
GENERAL FIXED ASSETS
ACCUMULATED DEPRECIATION
AMOUNT AVAILABLE TO RETIRE L/T DEBT
AMOUNT TO BE PROVIDED FOR L/T DEBT
TOTAL OTHER ASSETS
TOTAL ASSETS
crrY
13,117,431.21
32,356.15
1,000.00
43,630,787.36
39,762.53
(69,436.90)
373,434.01
2,299,096.69
(2,299,096.69)
0.37
1,040,973.94
8,497,550.20
3,075,708.88
30,487.74
3,252.01
711,534.48
4,109.00
271,065.33
13,978,441.59
75.00
2,100.00
2,175.00
57,611,403.95
LIABILITIES:
ACCOUNTS PAYABLE
DUE TO OTHER AGENCIES
DUE TO OTHER FUNDS
INTEREST ADVANCE-DUE TO CITY
ACCRUED EXPENSES
PAYROLL LIABILITIES
STRONG MOTION INSTRUMENTS
FRINGE TOED LIZARD FEES
SUSPENSE
DUE TO THE CITY OF LA QUINTA
PAYABLES TOTAL
ENGINEERING TRUST DEPOSITS
SO. COAST AIR QUALITY DEPOSITS
LQRP DEPOSITS
DEVELOPER DEPOSITS
MISC. DEPOSITS
AGENCY FUND DEPOSITS
TOTAL DEPOSITS
DEFERRED REVENUE
OTHER LIABILITIES TOTAL
COMPENSATED ABSENCES PAYABLE
DUE TO THE CITY OF LA QUINTA
DUE TO COUNTY OF RIVERSIDE
DUE TO C.V. UNIFIED SCHOOL DIST.
DUE TO DESERT SANDS SCHOOL DIST.
BONDS PAYABLE
TOTAL LONG TERM DEBT
TOTAL LIABILITIES
EQUITY-FUND BALANCE
TOTAL LIABILITY & EQUITY
CASH & INVESTMENT TOTAL
PREMIUM/DISCOUNT ON INVESTMENT
TOTAL
674,480.94
608,723.53
273,804.01
6,O29.10
65,134.30
4,495.27
78,981.50
(27.00)
30,487.74
1,742,109.39
877,918.34
439,304.00
1,411,554.84
2,728,777.18
387,604.00
387,604.00
4,858,490.57
52,752,913.41
57.611,403.98
(o.oa)
13,320,245.39
97;o83.3~
13,417,328.74
crrY
FIXED
ASSETS
CITY
LONG TERM
DEBT
RDA
12.374,325.32
44,145.65
163,785.46
55,653,006.85
69,040,263.28
RDA
FIXED
ASSETS
RDA
LONG TERM
DEBT
FINANCING
AUTHORITY
102,572.46
1,554.48
545,067.81
649,194.75
FA
LONG TERM
DEBT
GRAND
TOTAL
25,594,328(,
805,000.(
30,480,000.(
32,356.1
44,145.(~
165,339.~
56,198,074.6
113,320,245.~
15,707,117.00
15,707,117.00
105,378.55
166,520.25
91,383.71
13,488,404.64
651,038.04
833.40
3,515.00
14,507,073.59
145,141.0
97,083.3
91,383.7
13,488,404.6
373,434.0
2,299,096.6~
(2,299,096.6!
0.3'
1,692,011.9~
8,497,550.2~
3,075,708.8~
30,487.7,
3,2520
833.4~
15,707,117.0(
711,534.4~
4,109.0(
274,580.3;
44,192,632.1~
750(
2,100.0(
951,847.65
9,988,279.05
3,395,117.03
80,866,860.97
7,750,000.00
2,175.0C
9,988,279.0~
3,395,117 03
89,568,708.6~
15,707,117.00
951,847.65
951,847.65 83,547,336.87
9,988,279.05
9,988,279.05
84,261,978.00
84,261,978.00
.649,194.75
7,750,000.00
7,750,000.00
102,952,104.7C
260,467,157.2~
17,434.82
730,884.56
1,418,207.97
11,383,537.00
16,468.50
691,915.76
,339,608.09
1,692,011.98
,383,537.00
22,497.60
65,134.30
4,495.27
78,981 50
(27.001
3O,487.74
13,566,532.85
15,308,642.24
14,713.00
14,713.00
877,918.34
439,304.00
1,411,554.84
14,713.00
11,378,904.00
2,743,490.18
11,766,508.00
373,536.65
578,311.00
11,378,904.00
189,725.50
10,989,847.00
8,747,405.50
64,335,000.00
7,750,000.00
11,766,508.00
373,536.65
768,036.50
10,989,847.00
8,747,405.50
72,085,000.00
15,707,117.00
15,707,117:00
951,847.65
951,847.65 24,960,149.85
58,587,187.02
951,847.65 83,547,336.87
(o.oo)
9,988,279.05
9,988,279.05
84,261,978.00
84,261,978.00
84,261,97800
649,194.75
649,194.75
0.00
7,750,000.00
7,750,000.00
7,750,000.00
92,963,825.65
122,782,466.07
137,664,691.23
260,467,157.30
011
010
AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE:
ITEM TITLE'
October 1 6, 2001
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION'
Transmittal of Revenue and
Expenditure Reports dated
August 31, 2001 and Investment
Summary Report for the Quarter
Ending September 30, 2001.
PUBLIC HEARING'
RECOMMENDATION'
Receive and File
BACKGROUND AND OVERVIEW'
Transmittal of the August 31, 2001 Statement of Revenue and Expenditures for the La
Quinta Financing Authority and Investment Summary Report for the Quarter Ending
September 30, 2001.
ubm
alcon inance DirectOr
Approved for Submission by'
Thomas P. Genovese
City Manager
Attachments'
1. Revenue and Expenditures Report, August 31, 2001
2. Investment Summary Report for the Quarter Ending September 30, 2001
012
LA QUINTA FINANCING AUTHORITY
REVENUE DETAIL
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
ATTACHMENT
REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
9,175.00 0.00 9,175.00 0.000%
8.77 (8.77) 0.000%
678,955.00 0.00 678,955.00 0.000%
0.00 0.00 0.000%
688,130.00 8.77 688,121.23 0.000%
0.00 0.00 0.000%
3,067.59 (3,067.59) 0.000%
0.00 3,067.59 (3,067.59) 0.000%
688,130.00 3,076.36 685,053.64 0.450%
TOTAL FINANCING AUTHORITY
013
063
LA QUINTA FINANCING AUTHORITY
EXPENDITURE SUMMARY
DEBT SERVICE EXPENDITURES
SERVICES
BOND PRINCIPAL
BOND INTEREST
TRANSFER OUT
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT EXPENDITURES
TRANSFER OUT
TOTAL CAPITAL IMPROVEMENT
0810112001 - 813112001 REMAINING %
BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED
9,589.00 0.00 0.00 9,589.00 0.0%
275,000.00 0.00 0.00 275,000.00 0.0%
407,178.00 0.00 0.00 407,178.00 0.0%
0.00 0.00 0.00 0.0%
691,767.00 0.00 0.00 691 , 767. O0 0.0%
517,731.78 0.00 0.00 517,731.78 0.0%
517,731.78 0.00 0.00 517,731.78 0.0%
1,209,498.78 0.00 0.00 1,209,498.78 0.00%
TOTAL FINANCING AUTHORITY
014
City of La Quinta
Quarterly Investment Summary- Footnote 1
September 30, 2001
Financing AuthoriW
Issuer of Investment
U.S. Bank
U.S. Bank
Subtotal
Investment Type
Money Market Mutual Fund
Money Market Mutual Fund
I Maturity
Date
Next Day
Next Day
Plus % Attributable to Financing Authority from City Pooled Investments
Total
Footnote 1 - The Quarterly Investment Report does not include the City of La Quinta
checking account, sweep account, Housing Program account or petty cash account.
Market Value is based upon most current information available.
ATTACHMENT
Par Value Market Value Amortized Cost
483,241 483,241 483,241
546,542 546,542 546,542
$1,029,783 $1,029,783 $1,029,783
93,509
$1,123,292
015
0(;5