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1994 03 08 IABT6 0 (V -ity 4 ser4� Qumt4 78-495 CALLE TAMPICO — LA QUINTA, CALIFORNIA 92253 - (619) 777-7000 FAX (619) 777-7101 = NVE S TM E NT ADV 2 S O RY BOARD AGE NDA Study Session Room 78-495 Calle Tampico La Quinta, CA 92253 March 8, 1994 - 3:00 P.M. I CALL TO ORDER a. Pledge of Allegiance b. Roll Call II PUBLIC COMMENT (This is the time set for public comment on any matter not scheduled on the agenda.) III CONSENT CALENDAR (Consent Calendar Items are considered routine in nature and will be approved by one motion.) A. Approval of Minutes from the meeting of February 9, 1994. IV BUSINESS SESSION A. Transmittal of Treasurer's Report Dated January 31, 1994. B. Continued Consideration and Discussion of Investment Advisory Board representative to attend City Council Meeting and present Investment Advisory Board's Concerns/Questions about a City Council Liaison and a Specific Task Outline. V STUDY SESSION VI BOARD MEMBER COMMENTS VII OTHER A. Staff Information Reports. VIII ADJOURNMENT ADA MAILING ADDRESS - P.O. BOX 1504 - LA QUINTA, CALIFORNIA 92253 INVESTMENT ADVISORY BOARD MEETING DATE: March 8, 1994 ITEM TITLE: TRANSMITTAL OF TREASURER'S REPORT DATED JANUARY 31, 1994 FOR THE CITY COUNCIL MEETING OF MARCH 1, 1994 ISSUE AND DISCUSSION: AGENDA CATEGORY: CONSENT CALENDAR: BUSINESS SESSION: STUDY SESSION: The attached Treasurer's Report of January 31, 1994 was transmitted to the La Quinta City Council at the March 1, 1994 City Council Meeting. Additional attachments in the form of correlating statements are included with the copy presented here. RECOMMENDATION: Review, receive, and file. Approved for submission to the Investment Agvisory Board: nce Director ream. i `1 ow 6 . is COUNCIL MEETING DATE: ITEM TITLE: MARCH 1, 1994 AGENDA CATEGORY: PUBLIC HEARING: BUSINESS SESSION: 1-"-i CONSENT CALENDAR: TRANSMITTAL OF TREASURER'S REPORT STUDY SESSION: Transmital of January 31, 1994 Treasurer's Report. 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 Moneys and Funds. I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet next month's estimated expenditures. i Woods I erim Finance Director RECOMMENDATION: Receive and File Submitted by: 1 nature a _�-)--4/ Date Approved for submission to City Council &c,- L . t� ROBERT L. HUNT CITY MANAGER 2 CITY OF LA QUINTA TREASURER'S REPORT JANUARY 31, 1994 ASSETS UNDER THE INVESTMENT DIRECTION OF THE CITY TREASURER. TYPE OF MATURITY INTEREST INVESTMENT INSTITUTUION DATE RATE AMOUNT RANK ---------- POOLED CASH CHECKING ------------ BANK OF AMERICA -------- N/A -------- N/A $ ------ (68,969) ---- 1 MONEY MARKET BANK OF AMERICA N/A 2.41 237,923 1 LAIP/98-33-434 STATE OF CALIF. DEMAND 4.359 8,595,763 N/A LAIF/65-33-017 STATE OF CALIF. DEMAND 4.359 6,714,502 N/A ------------- $15,479,219 CITY PETTY CASH N/A N/A N/A 1,000 1 MONEY MARKET BANK OF THE DESERT N/A 2.79 9,229 1 DEFERRED COMP ICMA DEMAND 7.6 AVG INT 171,343 2 ------------- $181,572 RDA RESTRICTED CASH BANK OF AMERICA RESTRICTED 2.23 1,490,031 2 1ST INTERSTATE RESTRICTED 2.28 1,796,479- CONSTRUCTION 1ST INTERSTATE DEMAND 2.28 3,558,939, 2 1ST INTERSTATE DEMAND 2.28 247 2 ------------- $6,845,696 ------------- TOTAL $ ------------- ----------------------- 22,506,487 - $22,506,487 -- ----------- DISTRIBUTION OF CASH AND INVESTMENTS ------------------------- CITY GENERAL FUND $1,537,938 GAS TAX FUND (95,644) PARKS AND RECREATION FUND 1,179,558 QUIMBY FUND 646,771 INFRASTRUCTURE FUND 2,380,682 VILLAGE PARKING FUND 26,922 ASSESSMENT DIST FUNDS 2,545,043 TRUST AND AGENCY FUNDS 1,720,162 ------------- $9,941,432 RDA CAPITAL IMPROVEMENT FUNDS DEBT SERVICE FUNDS LOW/MOD FUNDS PA #1 PA #2 ($1,332,618) $2,725,948 3,763,345 2,528,441. 3,789,020 1,090,919 --------------------------- $6,219,747 $6,345,308 $12,565,055 ------------- $22,506,487 $22,506,487 3 CITY OF LA QUINTA BANK RECONCILEMENT JANUARY 31, 1994 O1/31/94 BANK STATEMENT BALANCES: BANK OF AMERICA: CHECKING M/M STATE OF CALIF: 98-33-434 65-33-017 O1/31/94 TOTAL BANK STATEMENT BALANCES LESS OUTSTANDING CHECKS: A/P P/R ADD OUTSTANDING DEPOSITS: 12/31/93 O1/31/94 ADJUSTED BANK STATEMENT BALANCES O1/31/94 G/L BALANCE POOLED CASH & INVESTMENTS ADJ JE'S POSTED IN FEB 94: O1/28/94 FWT SRV CHG/BK STMT REC ADJ P/R CK#9686 P/R CK#9687 O1/31/94 ADJUSTED G/L BAL - CASH & INVESTMENTS LAIF LAIF CHECKING M/M 98-33-434 65-33-017 TOTALS 660,607.04 660,607.04 237,923.06 237,923.06 8,595,763.20 8,595,763.20 6,714,502.33 6,714,502.33 ----------------------------------------------------------- 660,607.04 237,923.06 8,595,763.20 6,714,502.33 16,208,795.63 (833,829.18) (833,829.18) (16,614.23) (16,614.23) 132,543.34 132,543.34 ------------------------------------------------------------- (57,293.03) 237,923.06 8,595,763.20 6,714,502.33 15,490,895.56 1 (68,972.57) 237,923.66 8,595,763.20 6,714,502.33 1 15,479,216.62 13,636.04 13,636.04 (56.08) (56.08) (0.84) (0.84) (389.43) (389.43) (1,510.75) (1,510.75) (57,293.63) 237,923.66 8,595,763.20 6,714,502.33 15,490,895.56 4 GL62 3/01/94 CASH BALANCE BY FUND SUMMARY PERIOD ENDING 1/31/94 PAGE 1 10.52.03 FUND DESCRIPTION GENERAL FUND STATE GAS TAX FUND COMMUNITY PROJECT FUND FEDERAL ASSISTANCE FUND LANDSCAPE MAINT. DISTRICT #1 ASSESSMENT DISTRICT 88-1 ASSESSMENT DISTRICT 89-2 CITY-WIDE ASSESSMENT DIST 89-1 QUIMBY FUND INFRASTRUCTURE FUND EQUIPMENT REPLACEMENT FUND VILLAGE PARKING FUND ASSESSMENT DISTRICT 90-1 ASSESSMENT DISTRICT 91-1 ARTS IN PUBLIC PLACES ASSESSMENT DISTRICT 92-1 SOUTH COAST AIR QUALITY 88-1 AGENCY FUND 89-2 AGENCY FUND 90-1 AGENCY FUND 91-1 AGENCY FUND 92-1 AGENCY FUND RDA CAPITAL IMPROVEMENTS PA#1 RDA LOW/MOD FUND PA#1 RDA DEBT SERVICE FUND PA#1 RDA DEBT SERVICE FUND PA#2 RDA CAPITAL PROJECTS PA#2 RDA LOW/MOD FUND PA#2 LA QUINTA FINANCING AUTHORITY TOTAL CASH FUND BALANCE 1,527,708.93 95,644.32- 1,179,557.64 261.87 .00 90,902.44 107,376.98 185,680.23 646,770.60 2,380,681.78 .00 26,922.25 266,637.06 772,818.32 158,030.85 1,121,627.86 12,396.41 245,784.77 232,069.97 226,372.63 396,821.14 277,080.95 1,332,618.48- 3,789,019.77 2,273,313.86 2,128,453.65 2,229,729.27- 1,090,918.73 .00 15,479,216.62 5 �F Bank of America: i Olt> Statement P. 0. BOX 30746 LOS ANGELES, CA 90030-0746 - 24 HR CUSTOMER SERVICE 619-340-1867 DATE OF THIS STATEMENT 01/31/94 i PAGE 1 of 5 II�I����I�I�I►I�I�I�I���il����il�l�l�ll�l►��I��III����II►I►I�I�I�I E383 CITY OF LA QUINTA 0916 P 0 BOX 1504 LA QUINTA CA 92253-1504 i 1 OUR GREAT SMALL BUSINESS LOANS JUST GOT BETTER WITH CASH SAVINGS ON LOAN FEES UP TO $1,500! TO FIND OUT MORE ABOUT OUR SMALL BUSINESS LOANS .� t i ,..BQp -4�7 5899„� w HURRY".y PtCATIONS MU �, CEIV6 ARY 25, 1994. CNECKZNG 09160-15440 SINESS ANALYZED"¢ NG TAX ID 95-3740431 CUSTOMER SINCE 1982 SUMMARY STATEMEN �t.���� AN.UARY 01 JANUARY' PREVIOUS EN, BAQW " MOM&.. .............. 825,145.58 TOTAL OF F " S "' ',. , .so* _---so* ............ TOTAL OF EDIT FORr........�® 2, 685, 996.48 000...0000...1,183,000.00 TOTAL OF-, FOR �3 �; �P,1 !�-r o#f$os*o#Aw3o98lol53.66 tt,.. TOTAL OF BITS OR. �" ...... ...............52,381.36 STATEMEN-- N 01-31-94 ......� .000.000.0000.660,607.04 CHECKS/ CHECKS 4112262612■�!� OTHER DEBITS 'A TE or �� WK DATE N STED <,1 FUNT ER POSTED AMOUNT 9510 0I=05 __2,339.98 9577 01-14 758.26 9512* 01-05 1,596.97 9578 01-14 908.56 9513 01-04 715.14 9579 01-14 589.11 9514 01-03 882.81 9580 01-18 1,382.19 9518* 01-03 935.03 9581 01-18 325.96 9523* 01-03 568.52 9582 01-18 1452.71 9525* 01-04 1,799.78 9583 01-18 1,853.31 9527* 01-03 576.19 9584 01-18 339.15 9530* 01-11 1,039.52 9585 01-18 430.42 9532* 01-06 984.90 9586 01-18 874.23 9537* 01-03 755.23 9587 01-18 1,396.39 9540* 01-07 1P050.34 9589* 01-19 877.79 9544* 01-05 1,334.31 9590 01-20 956.14 9547* 01-04 1,331.33 9591 01-18 932.68 9552* 01-04 2,165.95 9592 01-14 761.27 �9566* 01-18 892-06 {___ 9593 01-18 1,050.02 �67 01-2_1r 1 o_7_OH .11-7, 9594 01-19 729.46 95W`-TI- 8 2,116.49 9595 01-18 753.23 9569 01-24 1,578.39 9596 01-19, 1,626.94 9570 01-31 671.64 9597 01-19 750.16 9571 01-14 417.74 9598 01-24 598.57 9572 01-18 857.40 9599 01-18 1P048o68 9573 01-14 647.16 9600 01-18 1,041.32 9574 01-18 lo072.09 9601 01-19 1,176.28 9575 01-19 160.96 9602 01-19 1,221.34 9576 01-19 690.57 9603 01-18 1,254.25 6 Bank of America NTBSA • Member FDIC Bank of America C�l 4 6-w- t p eW� 66 � Statement P. 0. BOX 30746 LOS ANGELES, CA 90030-0746 24 HR CUSTOMER SERVICE 619-340-1867 DATE OF THIS STATEMENT 01/31/94 PAGE 2 OF 5 CITY OF LA QUINTA CHECKING 09160-15464 BUSINESS ANALYZED CHECKING (CONTINUED) CHECKS/ CHECKS OTHER DEBITS CHECK DATE CHECK DATE NUMBER POSTED AMOUNT NUMBER POSTED "AMOUNT 9604 01-19 I, I92.41 .9672 01-31 .7.67..11 i 9605 01-20 1,268.07 9673 01-31 1'448.96 9606 01-19 1,2ll.83 - 9674 01-31 �. 989.67 " 9675 01-31. 870.92 -14 .81 '� 9678* 01-31 961.11 I -14 96 9679 01-31 681.45 ,., 1-18 4 680 01-31 1-18 7 681 01-31 886.58 1-19 8 82 01-31 �K r103.04 1-18 3 83 01-31 "666.57 1-18 9 85* 01-28 :, v540.68 1-18 1 86 01-31 389.43 I 1 8 00 87 01-28 1,510.75 A z 38* 01-07,5815.40 1- �, 63* 01-20 -4700.00 1- . 0 ._._."""'. 11 * 01- 0 6 _ 15.00 1-18 88 60* 01-0784,525.00 i111-198 ®��68* 01-10 1, 059.27 p1-19 76* 01-03 x 30.00 24 1-18 _77 01-04 ` r1 017.16 1-18 89* 01-03 100.00 1-19 cif 25* 01-07 " 75.00 W01-31 31* 01-12 ° 180.00 2 "01-31 4 �1�1188* 01-19 55.00 w5 331- Il1-28 2 5 01* 01-04 490.80 477W-31 39 A0 07* 01-05 250.00 ' 28 .15 12* 01-20 27.00 I 9'37 81" 5.96 BM13 01-07 .399, 971.00 9638 01-31 690.56 -11220* 01-03 407.00 9639 01-28 758.25 17234* 01-03 56,548.75 i 9640 01-23 903.55 17236* 01-03 100.00 9641 01-28 589.11 17237 01-12 165.00 9642 01-28 1,382.18 17238 01-05 200.00 9643 01-31 573.55 17242* 01-03 220.00 9644 01-31 1,052.70 17246* 01-03 75.00 9645 01-31 1,853.30 172-54* 01-04 912.00 I 9646 01-31 339.15 17258* 01-03 3.52 9648* 01-31 874.22 17259 01-04 192.00 9649 01-31 1,396.38 17260 01-11 6.72 9651* 01-31 882.78 17264* 01-05 138.27 9653* 01-31 937.67 17278* 01-07 760.00 9655* 01-31 lo050.01 17279 01-11 359.00 9657* 01-31 701.78 17281* 01-19 40,000.00 9659* 01-31 750.15 17283* 01-14 298.00 9660 01-28 603.56 17284 01-10 453.24 9661 01-31 1P048.68 17285 01-10 356.96 i 9663* 01-31 1,181.28 17286 01-10 171.26 9664 01-31 1,226.33 17287 01-11 55.11 9665 01-31 1,259.25 17288 01-11 303.05 9666 01-31 1,197.41 17289 01-11 347.00 9668* 01-31 1,211.83 17290 01-11 40.00 9669 01-31 2,301.47 17291 01-10 91,890.12 9670 01-28 962.81 17292 01-13 3,519.00 9671 01-28 1,187.46 17293 01-10 1#810.52 Bank of America NUSA 9 Member FDIC Bank of America --� P. 0. BOX 30746 LOS ANGELES, CA 90030-0746 24 HR CUSTOMER SERVICE 619-340-1867 DATE OF THIS STATEMENT 01/31/94 PAGE 3 OF 5 CITY OF LA QUINTA CHECKING 09160-15464 BUSINESS ANALYZED CHECKING (CONTINUED) CHECKS/ CHECKS OTHER DEBITS CHECK DATE NUMBER POSTED 17294 01-10 17295 01-11 17296 01-10 -�7297 01-19. �298 " Q,`-11 99 01-20 0Q "01-11 z301 t1-07 �302 01-10 �03 " 01-10 04 01-12 j 305 01-11 A Q6 1-11 rd�! 1 - 2 1 14' 1-07 1-12 p 1-07 1 1-10 8 wao -11 A 11 -10 -I= 1 17323 01=11 _....._. 17324 01-10 17325 01-06 3 17326 01-11 17327 01-11 17328 01-19 17329 01-13 17330 01-11 17331 01-10 17332 01-10 17333 01-11 17334 01-10 17335 01-07 17336 01-10 8 17337 01-11 17338 01-12 17339 01-10 17340 01-07 17341 01-11 17342 01-11 17343 01-20 17344 01-10 17345 01-10 17346 01-11 17347 01-12 17348 01-19 Statement CHECK DATE AMOUNT NUMBER POSTED AMOUNT 241.50 17349 01-11 475.00 8,197.45 17350 01-10 966.75 495.00 17351 01-11 3429.73 17352 01-12 124.00 #7.71 '�`°"" x;;. 17353 ��A 01-11 27.35 +8T.00 17354 01-10 1,2ll 28 "41 7355 01-10 126.05 T7: 59 356 01-14 50.00 57 01-11 160.00 :Q0 58 01-11 91.58 0 59 01-12 5,637.00 5 60 01-14 38.92 4 61 01-11 42.89 62 01-13 _3,864.00 63 01-12 475.00 --� 64 01-12 1,254.17 00 65 01-10 :`20,676.89 8 66 01-10 803.25 67 01-07 6429.20 69M 01-07 _,J L 368.18 71M 01-07 609.57 72 01-18 21.00 73 01-10 - 779.70 74 01-10 13,926.20 =0 �' 75 01-13 44.18 '50 76 01-07 242.16 NOW.41 EP"70.02 ��77 78 01-10 01-12 f1 1,440.00 50.08 20.00 _..... 17379 01-10 362.04 481.98 17380 01-10 6,978.42 �0,042.21 17381 01-10 5,782.79 360.00 17382 01-10 - 20,568.00 520.42 17383 01-07 70.00 49.43 17384 01-10 114.00 50.00 17385 01-12 230.27 75.00 17386 01-12 124.90 7,215.14 17387 01-11 308.89 105.70 17388 01-10 145.55 1,231.99 17389 01-11 35.95 95.00 17390 01-07 990.60 683.81 17391 01-11 80.72 7,011.08 17394* 01-21 100.00 35.85 17395 01-04 100.00 2,454.29 17396 01-04 50.00 21500.00 17397 01-04 692.57 1,849.85 17398 01-03 100.00 23.06 17399 01-04 50.00 15.54 17400 01-06 50.00 126.62 17401 01-06 50.00 1,327.00 17402 01-06 267.74 0,812.46 17403 01-05 1,658.55 28.97 17404 01-04 3,085.69 90.00 17405 01-19 50.00 289.07 17406 01-20 211.50 Bank of America NT&SA • Member FDIC DI Iffl. 0 C� -Bank of America Statement elk G P. 0. BOX 30746 LOS ANGELES, CA 90030-0746 24 HR CUSTOMER SERVICE 619-340-1867 DATE OF THIS STATEMENT 01/31/94 PAGE 4 OF 5 CITY OF LA QUINTA CHECKING 09160-15464 BUSINESS ANALYZED CHECKING (CONTINUED) CHECKS/ CHECKS OTHER DEBITS CHECK DATE CHECK DATE NUMBER POSTED AMOUNT NUMBER POSTED AMOUNT 17407 01-04 217.00 17468 01-26 249.35 17408 01-03 50.00 17469 01-31 159.00 17409 01-12 25.00 17470 01-25 135.08 410 01=04 1 0 E10. W�� � 17471 01-24 33.74 i 1!11..Oi=14 .00 �" 17472 01-28 93.60 412 Q1-10 Q,00 17473 01-24 728.09 s-413I-05 :`00 7474 01-28 51.20 414, 01-04 r :40 475 01-25 8,823.00 H 7415 01-03 f 6SC,00 � 76 01-21 734.26 ! :417* 01-03 �. yob ��7 �z. � ,k77 01-24 729,18952 ! 18,,01-06 to 78 01-21 485:77 ! '420* 01-05 �.11 ±79 01-24 37.12 21. V1-1;80 01-24 15.36 j 22 =01-1a` . !FOR wil, :.. 81 01-25 11.80 j 23 ,01-25000001M, 83* 01-24 10,575.02 84 01-25 138.04 .25 401-1000 85 01-28 3, 367.43 "27*1.01-03 W10 86 01-26 182.66 2 ,.01-05 87 01-24 692.16 A29 :,01-07 89M 01-25 111.52 30 01-13 us" Il.0O IRWIN8 3°' . 491* 01-25 175.57 I IMM"31 '01-07 12492 01-27 133,635.76 i NM "32 01-25 + 0a:t10 93 01-27 32.10 E VA,33 01-06 os JMMWU,, 94 01-31 175.00 35* 01-112s5.00 95 01-24 22.43 `IM_36 1-10 V. 00 96 01-24 574.91 i 7-11�� . 02 97 01-25 199.48 �: 17438 Q111 85.00 98 01-24 48,791.12 17440* 01-26 123.00 17499 01-28 144.16 17441 01-24 98.21 17500 01-26 72.70 17442 01-24 225.00 17501 01-26 480.00 17443 01-28 1,331.83 17502 01-24 70.21 17444 01-25 572.33 17503 01-24 555.80 ! 17445 01-31 337.00 17504 01-24 15.62 17446 01-25 489.26 17506* 01-24 57.00 17447 01-25 452.38 17507 01-21 200.99 17448 01-24 52.41 17508 01-27 40.00 17449 01-31 14.49 17509 01-25 93.66 17450 01-24 61.39 17510 01-28 68.59 17451 01-24 81421.06 17511 01-21 300.00 17452 01-26 135.46 17512 01-25 35.95 17453 01-24 14.46 17513 01-24 76.41 17454 01-25 174.82 17514 01-21 145.38 i 17455 01-25 182.21 17516* 01-18 10909.91 17456 01-26 225.98 17517 01-20 1,692.41 17457 01-24 5,867.55 17518 01-19 9,681.50 17458 01-24 289.85 17519 01-20 216.19 17460* 01-24 451.32 17520 01-31 78.00 j 17461 01-24 1,734.99 17523* 01-26 20.00 i 17462 01-25 7.77 17524 01-25 2,794.31 17463 01-21 1,453.79 17525 01-26 1,962.50 17464 01-24 7.81 17526 01-24 130.00 17466* 01-20 538,315.44 17527 01-24 58.45 17467 01-21 1,750.00 17528 01-25 13,735.66 Bank of America NT&SA • Member FDIC Bank of America Statement P. 0. BOX 30746 LOS ANGELES, CA 90030-0746 24 HR CUSTOMER SERVICE 619-340-1867 DATE OF THIS STATEMENT 01/31/94 i PAGE 5 OF 5 CITY OF LA QUINTA i CHECKING 09160-15464 BUSINESS ANALYZED CHECKING (CONTINUED) CHECKS/ CHECKS OTHER DEBITS DEPOSITS/ OTHER CREDITS OTHER DE DATE POSTED 01-03 01-07 01-14 01-19 01-19 01-19 01-25 CHECK DATE NUMBER POSTED 17529 01-26 17530 01-24 17531 01-26 N N ALL-818-6 BATAX MTH IITEM RE TPAOWN HEREy QUESTED S ROCESSINC AMOUNT 33,612.21 61.50 46.00 CHECK DATE NUMBER POSTED 17625* 01-28 17626 01-27 17627 01-28 AMOUNT 120.00 29.00 9,681.50 T AMOUNT 0394 94 Via! 31............ i0794 RE _.. ..... .1 0 11894 94 31..9 .....:.... �iis2' 8b ECIAL (S) CK ACC R DEPOSITS 1011"WEM ANIQG A . 41,.5M Mac=0 01-05 __._ 201 095.78 01-06 4,116.17 01-07 22, 365.26 01-10 30o651.25 01-11 .��2101o324.00 01-12 6,470.86 01-13 44,061.03 01-14 '-"-`-28,133.41 01-18 �,,81413. 94 DATE POSTED AMOUNT O1— 9 5,552.04 01-2 �t 8P261.65 01-20 ,878,000.00 �1 01—Z1 9,784.61 01-24 3,957.00 01-25 3,024.60 01-26 "047,551.71 01-26 ' .20,000.00 01-27 6,727.50 01-28 38,776.70 01-31 1,199.05 01'HER CREDITS DATE TRANSACTION POSTED DESCRIPTION AMOUNT 01-06 CREDIT ADJUSTMENT......................................\`1,183,000.0 10 Bank of America NT&SA • Member FDIC Bank of Americ �- tatement ------------ I P. 0. BOX 30746 LOS ANGELES, CA 90030-0746 24 HR CUSTOMER SERVICE 619-340-1867 DATE OF THIS STATEMENT 01/31/94 PAGE 1 OF 1 E4 CITY OF LA QUINTA 0916 P 0 BOX 1504 LA QUINTA CA 92253-1504 OUR GREAT SMALL BUSINESS LOANS JUST GOT BETTER WITH CASH SAVINGS ON LOAN FEES UP TO $1,500! TO FIND OUT MORE ABOUT 0U1 SMALL BUJ11!ESS LOANS 7-5999sm w345. HURR�f ,'s PF TVIATIONS MU" ECEIVED.a F. ARY 25, 1994. CNECKZNG 09168-16; " INESS ANALYZED, -.,CHEW NG 9 TAX ID 95-3740431 CUSTOMER SINCE 1989 SUMMARY v<,�. ,,.. STATEMENT Pi©DtJANUARY Oa`iflUH JANUARY3 PREVIOUS . ENT BALANCE!t111r ..x y ;�:. ...9..........138, 980.15 TOTAL OFF PDSITS FOR.. • r-r,+ ............,.►..�; ...... , ..... 9, 376, 942.91 TOTAL OFj VZIKS,FOR......r Y,.b.. ....... �«* ............3,400,000.00 TOTAL OF Z,,:OTHER,DEBITS FOR....��.....*o v,° ,..,....,...5,878,000.00 STATEMENT'D&LANCE ON ................ 237, 923.06 INTEREST PArbr"IN`1993......... .�. :�:.......... ,-_ ................3,903.20 CHECKS/ CHECKSr OTHER DEBITS C EClC DBeTE �« ' CHECK DATE NUMBER POSTED, u�-.k AMOUNT - '-NUMBER POSTED AMOUNT 01-18 3,380,000.00 01-26 20400.00 OTHER DEBITS DATE TRANSACTION POSTED DESCRIPTION AMOUNT 01-20 DEBIT ADJUSTMENT ........................................ 1,878,000.00 01-25 DEBIT ADJUSTMENT.........................................4,000,000.00 DEPOSITS/ DEPOSITS OTHER CREDITS DATE DATE POSTED AMOUNT POSTED AMOUNT 01-12 ` 3,341,494.66 01-19 6,035,448.25 DAILY DATE AMOUNT DATE AMOUNT DATE AMOUNT BALANCE 01-12 3,480,474.81 01-19 6,135,923.06 01-25 257,923.06 01-18 100,474.81 01-20 4,257,923.06 01-26 237,923.06 i� 11 ;ank of America NUSA • Member FDIC - STATE OF CALIFORNIA KAT EEN BROWN, Treasurer OFFICE OF THE TREASURER ••' °' • P.O. BOX 942809 SACRAMENTO, CA 94209-0001 ' �F LOCAL AGENCY INV P.O. BOX 942809 Date: 01/31/94 SACRAMENTO, CA 94209-0001 Page: 01 JANUARY, 1994 STATEMENT 'v e ACCOUNT NUMBER: 98-33-4 CITY OF LA QUINTA ATTN: FINANCE DIRECTOR P.O. BOX 1504 LA QUINTA CA 92253 EFFECTIVE TRANSACTION TRAN CONF AUTH TRANSACTION DATE DATE TYPE --------- NO CALLER AMOUNT BALANCE ----------- ---- BEGINNING BALANCE - REG ------ --------------------- --------------- $5,701,040.95 01/06/94 01/06/94 RW 586 TPG -$1,183,000.00 $4,518,040.95 01/14/94 01/13/94 DD 587 SYS $77,722.25 $4,595,763.20 01/25/94 01/24/94 RD 588 TPG $4,000,000.00 $8,595,763.20 ENDING BALANCE - REG --------------- $8,595,763.20 NO BOND PROCEEDS GRAND TOTAL --------------- $8.,595,763.20 SUMMARY TRAN COUNT TOTAL DEPOSIT AMT TOTAL WITHDRAWAL ANT REG 2 $4,077,722.25 -$1,183,000.00 B/P 0 ---------- $0.00 $0.00 TOTAL 2 ----------------- $4,077,722.25 -------------------- -$1,183,000.00 STATE OF CALIFORNIA KATHLEEN BROWN, Treasurer OFFICE OF THE TREASURER °... P.O. BOX 942809 em SACRAMENTO, CA 94209-0001 LOCAL AGENCY INVESTMENT FUND Date: 01/31/94 SACRAMENTO, CA 94209-0001 Page: 01 JANUARY, 1994 STATEMENT ACCOUNT NUMBER: 65-33-017 LA QUINTA REDEVELOPMENT AGENCY ATTN: FINANCE DIRECTOR P.O. BOX 1504 LA QUINTA CA 92253 EFFECTIVE TRANSACTION TRAN DATE DATE TYPE --------- ----------- ---- BEGINNING BALANCE - REG 01/14/94 01/13/94 DD 01/18/94 01/14/94 RD ENDING BALANCE - REG NO BOND PROCEEDS GRAND TOTAL TRAN COUNT REG 1 B/p 0 TOTAL 1 CONF AUTH TRANSACTION NO CALLER AMOUNT 542 SYS 543 TJO SUMMARY TOTAL DEPOSIT AMT ----------------- $3,421,488.32 $0.00 ----------------- $3,421.,488.32 $41*488.32 $3,380,000.00 BALANCE --------------- $3,293,014.01 $3,334,502.33 $6,714,502.33 --------------- $6,714,502.33 --------------- $6,7141502.33 TOTAL WITHDRAWAL AMT -------------------- $0.00 $0.00 -------------------- $0.00 13 A C&rs ;�ay,4 48L GL26 OUTSTAND I N G CHECKS PAGE 1 3/01/94 l4.39 CHECK CHECK CHECK CHECK CUMULATIVE NUMBER TYPE DATE PAYEE AMOK SUB -TOTAL 14453 REGULAR 1/19/93 1640 PENA, JOHN 55.00 55.00 14641 REGULAR 2/16/93 2670 DESERT FACILIITES CORP 435.00 490.00 15599 REGULAR 6/15/93 23 ABCO-AUTOMATED FREQUENCY 350.00 840.00 15744 REGULAR 6/30/93 821 HIGH TECH IRRIGATION INC 866.23 1706.23 16691 REGULAR 10/19/93 1224 LA QUINTA VOLUNTEER 512.25 2218.48 16837 REGULAR 11/02/93 1174 LEONE, DEAN 3.00 2221.48 16955 REGULAR 11/16/93 1224 LA QUINTA VOLUNTEER 906.75 3128.23 17138 REGULAR 12/07/93 1310 MARTIN AND CHAPMAN CO 60.34 3188.57 17149 REGULAR 12/07/93 1640 PENA, JOHN 14.84 3203.41 17368 REGULAR 12/28/93 3950 S.C.A.C.E.O. 25.00 3228.41 17370 REGULAR 12/28/93 2032 SMOLENS, DONNALDA 45.00 3273.41 17416 REGULAR 12/30/93 1349 MARRS, DONALD 150.00 3423.41 17419 REGULAR 12/30/93 1610 P.E.R.S. 13553.94 16977.35 17459 REGULAR 1/10/94 2835 CORONA, CITY OF 59.00 17036.35 17465 REGULAR 1/10/94 750 GENERAL TELEPHONE 2475.59 19511.94 17482 REGULAR 1/10/94 1378 MARRIOTT 297.00 19808.94 17488 REGULAR 1/10/94 1632 PALM DESERT COUNTRY CLUB 50.00 19858.94 17490 REGULAR 1/10/94 1691 PROFESSIONAL BUSINESS 121.38 19980.32 17505 REGULAR 1/10/94 2156 UNDERGROUND SERVICE ALERT 273.00 20253.32 17515 PREPAID 1/11/94 490 DESERT GARDENS 1695.00 21948.32 17522 REGULAR 1/20/94 2684 BANQUE AUDI (FRANCE) S.A. 643926.40 665874.72 17535 REGULAR 1/24/94 69 A AND S COFFEE SERVICES 161.00 666035.72 17536 REGULAR 1/24/94 105 A-1 RENTS 341.25 666376.97 17537 REGULAR 1/24/94 115 ACE ALTERNATOR 107.70 666484.67 17538 REGULAR 1/24/94 94 ACE HARDWARE 67.46 666552.13 17539 REGULAR 1/24/94 35 AFFILIATED SECURITY SERV 81.00 666633.13 17540 REGULAR 1/24/94 61 ATCO MANUFACTURING CO 347.00 666980.13 17541 REGULAR 1/24/94 222 BAKER, PEGGY 40.00 667020.13 17542 REGULAR 1/24/94 247 BIG A AUTO PARTS 224.81 667244.94 17543 REGULAR 1/24/94 228 BOGAN & ASSOC INC, G 224.00 667468.94 17544 REGULAR 1/24/94 293 BUILDING NEWS INC 246.49 667715.43 17545 REGULAR 1/24/94 292 BUSINESS RECORDS CORP 1395.36 669110.79 17546 REGULAR 1/24/94 301 CADET UNIFORM SUPPLY 192.58 669303.37 17547 REGULAR 1/24/94 2734 CAL PRESERVATION FOUNDATN 90.00 669393.37 17548 REGULAR 1/24/94 2730 CALIF PARK & REC SOCIETY 25.00 669418.37 17549 REGULAR 1/24/94 580 CALTRANS 33.00 669451.37 17550 REGULAR 1/24/94 526 CAREER TRACK SEMINARS 78.00 669529.37 17551 REGULAR 1/24/94 330 CHANEY COMPANY, GEORGE H. 7804.23 677333.60 17552 REGULAR 1/24/94 271 COACHELLA VALLEY 188.02 677521.62 17553 REGULAR 1/24/94 350 COACHELLA VALLEY WATER 240.84 677762.46 17554 REGULAR 1/24/94 2752 CONSULTING DISTRIBUTORS 614.53 678376.99 17555 REGULAR 1/24/94 2667 COUNTS UNLIMITED 665.00 679041.99 17556 REGULAR 1/24/94 412 DANNY'S PEST CONTROL 20.00 679061.99 17557 REGULAR 1/24/94 421 DAY -TIMERS INC 59.24 679121.23 17558 REGULAR 1/24/94 492 DESERT BUSINESS MACHINES 225.00 679346.23 17559 REGULAR 1/24/94 543 DESERT JANITOR SERVICE 3158.32 682504.55 17560 REGULAR 1/24/94 556 ECONO LURE N TUNE 326.81 682831.36 17561 REGULAR 1/24/94 530 ECONO SEWER SERVICES 260.00 683091.36 17562 REGULAR 1/24/94 557 ECONOMICS INC 1555.84 684647.20 17563 REGULAR 1/24/94 624 FIRST INTERSTATE BANK 4556.00 689203.20 17564 REGULAR 1/24/94 4003 FITZGIBBONS, KERRY 10.56 689213.76 17565 REGULAR 1/24/94 612 FREIGHT OUTLET 229.00 689442.76 17566 REGULAR 1/24/94 742 GALLS INC. 23.49 689466.25 14 ACC ors rt �- GL26 0 U T S T A N D I N G CHECKS �`�" PAGE 3/01/94 .14.40 CHECK CHECK CHECK NUMBER TYPE DATE PAYEE CHECK CUMULATIVE AMOUNT SUB -TOTAL 17567 REGULAR 1/24/94 750 GENERAL TELEPHONE 83.04 689549.29 17568 REGULAR 1/24/94 729 GENOVESE, THOMAS 63.04 689612.33 17569 REGULAR 1/24/94 2451 HARRIS & ASSOCIATES 12600.00 702212.33 17570 REGULAR 1/24/94 821 HIGH TECH IRRIGATION INC 393.95 702606.28 17571 REGULAR 1/24/94 493 HINDERLITER DE LLAMAS 300.00 702906.28 17572 REGULAR 1/24/94 869 HOARD INC, HUGH 400.00 703306.28 17573 REGULAR 1/24/94 910 IBM CORPORATION 5T4 229.08 703535.36 17574 REGULAR 1/24/94 974 ICBO 75.00 703610.36 17575 REGULAR 1/24/94 950 IMPERIAL IRRIGATION DIST. 4785.63 708395.99 17576 REGULAR 1/24/94 966 INTERNATIONAL RUBBER & 8.50 708404.49 17577 REGULAR 1/24/94 1050 JOBS AVAILABLE 194.40 708598.89 17578 REGULAR 1/24/94 1073 JUBILEE POOL & SPA CARE 95.00 708693.89 17579 REGULAR 1/24/94 1128 KELLY TEMPORARY SERVICES 912.23 709606.12 17580 REGULAR 1/24/94 1225 LA QUINTA VOLUNTEER 45.00 709651.12 17581 REGULAR 1/24/94 1290 M K CAMERA & PHOTO 154.62 709805.74 17582 REGULAR 1/24/94 2028 MALONEY INC, T I 210.34 710016.08 17583 REGULAR 1/24/94 1308 MAPLE LEAF PLUMBING INC. 148.79 710164.87 17584 REGULAR 1/24/94 1330 MOBILMEDIA PAGING SERVICE 43.97 710208.84 17585 REGULAR 1/24/94 1393 MYRON MANUFACTURING CORP 219.52 710428.36 17586 REGULAR 1/24/94 1433 NEPTUNE ELECTRIC 37.73 710466.09 17587 REGULAR 1/24/94 1445 NOEL BRUSH AWARDS 8.81 710474.90 17588 REGULAR 1/24/94 1416 NORRELL SERV INC 296.64 710771.54 17589 REGULAR 1/24/94 1411 NU -ART LIGHTING MFG CO 334.08 711105.62 17590 REGULAR 1/24/94 1611 PACIFIC EQUIP IRRIGATION 118.94 711224.56 17591 REGULAR 1/24/94 1632 PALM DESERT COUNTRY CLUB 75.00 711299.56 17592 REGULAR 1/24/94 1665 PRINTING PLACE, THE 45.79 711345.35 17593 REGULAR 1/24/94 1630 PROF SERVICE INDUSTRIES 1920.00 713265.35 17594 REGULAR 1/24/94 1691 •PROFESSIONAL BUSINESS 47.41 713312.76 17595 REGULAR 1/24/94 1821 REALCO CONSULTANTS 156.40 713469.16 17596 REGULAR 1/24/94 1835 RIVERSIDE BLUEPRINT 111.52 713580.68 17597 REGULAR 1/24/94 1845 RIVERSIDE, COUNTY OF 488.28 714068.96 17598 REGULAR 1/24/94 1799 ROSENOW SPEVACEK GROUP 14930.00 728998.96 17599 REGULAR 1/24/94 1875 RUBINO, MICHAEL J. 641.25 729640.21 17600 REGULAR 1/24/94 4014 SIGN CENTER 483.03 730123.24 17601 REGULAR 1/24/94 1955 SMART & FINAL 46.04 730169.28 17602 REGULAR 1/24/94 2032 SMOLENS, DONNALDA 45.00 730214.28 17603 REGULAR 1/24/94 1961 SOUTHERN CALIF GAS CO 57.52 730271.80 17604 REGULAR 1/24/94 4019 SOUTHWEST BOULDER SUPPLY 461.00 730732.80 17605 REGULAR 1/24/94 1965 SPARKLETTS 120.76 730853.56 17606 REGULAR 1/24/94 1979 STEWS OFFICE SUPPLY 531.79 731385.35 17607 REGULAR 1/24/94 1978 STOCKWELL & BINNEY 3.88 731389.23 17608 REGULAR 1/24/94 1986 STRADLING YOCCA CARLSON 53038.54 784427.77 17609 REGULAR 1/24/94 2011 TARGET STORES 119.89 784547.66 17610 REGULAR 1/24/94 2016 TAYLOR AND SONS, STEVE 550.00 785097.66 17611 REGULAR 1/24/94 2027 TIGER REPRO GRAPHICS 229.73 785327.39 17612 REGULAR 1/24/94 2060 TOPS & BARRICADES INC 1273.87 786601.26 17613 REGULAR 1/24/94 2069 TRI-LAKE CONSULTANTS 15024.00 801625.26 17614 REGULAR '1/24/94 2160 URBAN LAND INSTITUTE 120.00 801745.26 17615 REGULAR 1/24/94 2210 VALLEY ANIMAL CLINIC 20.75 801766.01 17616 REGULAR 1/24/94 2241 VIKING 143.72 801909.73 17617 REGULAR 1/24/94 2254 VONS 156.19 802065.92 17618 REGULAR 1/24/94 2322 WAL-MART STORES INC 84.82 802150.74 17619 REGULAR 1/24/94 2325 WASTE MGMNT OF THE DESERT 145.55 802296.29 15 Aetcil G?,26 0 U T 8 T A N D I NG CHECKS PAGE 3 3/01/94 4.40 CHECK CHECK CHECK CHECK CUMULATIVE NUMBER TYPE DATE PAYEE AMOUNT SUB -TOTAL 17620 REGULAR 1/24/94 2320 WELCH'S UNIFORM RENTAL 35.95 802332.24 17621 REGULAR 1/24/94 2285 WEST COAST TURF 991.30 803323.54 17622 REGULAR 1/24/94 2340 WEST PUBLISHING COMPANY 352.95 803676.49 17623 REGULAR 1/24/94 2345 WHEELERS DESERT LETTER 105.00 803781.49 17624 REGULAR 1/24/94 2438 XEROX CORPORATION 1591.54 805373.03 17628 PREPAID 1/31/94 340 RIVERSIDE COUNTY SHERIFFS 16.00 805389.03 17629 REGULAR 1/31/94 24 ABELS, JACQUES 100.00. 805489.03 17630 REGULAR 1/31/94 62 ADOLPH, DON 100.00 805589.03 17631 REGULAR 1/31/94 223 BANGERTER, GLENDA L 692.57 806281.60 17632 REGULAR 1/31/94 194 BARROWS,KATIE 100.00 806381.60 17633 REGULAR 1/31/94 2682 BERNARD, NORRIS S. 50.00 806431.60 17634 REGULAR 1/31/94 181 BEST, LAWRENCE 50.00 806481.60 17635 REGULAR 1/31/94 2689 BYRD SHERIFF, COIS M 535.48 807017.08 17636 REGULAR 1/31/94 304 C.V.J.P.I.A 1073.08 808090.16 17637 REGULAR 1/31/94 314 CALIFORNIA, STATE OF 2820.01 810910.17 17638 REGULAR 1/31/94 443 CLERK OF THE COURT 400.00 811310.17 17639 REGULAR 1/31/94 350 COACHELLA VALLEY WATER 259.00 811569.17 17640 REGULAR 1/31/94 390 CVAG 25.00 811594.17 17641 REGULAR 1/31/94 2476 DICKENS, ALDINE 50.00 811644.17 17642 REGULAR 1/31/94 521 ELLSON, MARION 100.00 811744.17 17643 REGULAR 1/31/94 665 FRANCIS, SUSAN 50.00 811794.17 17644 REGULAR 1/31/94 744 GILREATH, HELEN T 50.00 811844.17 17645 REGULAR 1/31/94 915 ICMA RETIREMENT TRUST-457 1962.50 813806.67 17646 REGULAR 1/31/94 1623 KABUSHIKI KAISHA MARUKO 1695.80 815502.47 17647 REGULAR 1/31/94 1268 LEWIS, TOM 50.00 815552.47 17648 REGULAR 1/31/94 1349 MARRS, DONALD 100.00 815652.47 17649 REGULAR 1/31/94 1375 MC CARTNEY, MICHAEL 690.57 816343.04 17650 REGULAR 1/31/94 1426 NARD, NANCY 50.00 816393.04 17651 REGULAR 1/31/94 1610 P.E.R.S. 13732.46 830125.50 17652 REGULAR 1/31/94 1640 PENA, JOHN 1394.11 831519.61 17653 REGULAR 1/31/94 1643 PERKING, RONALD A. 750.00 832269.61 17654 REGULAR 1/31/94 403 RIV. CO. DIST ATTORNEY 673.00 832942.61 17655 REGULAR 1/31/94 4005 SALES, BRUCE F 50.00 832992.61 17656 REGULAR 1/31/94 882 SEATON, B.J. 50.00 833042.61 17657 REGULAR 1/31/94 1959 SNIFF, STANLEY 690.57 833733.18 17658 REGULAR 1/31/94 2153 UNITED WAY OF THE DESERT 46.00 833779.18 17659 REGULAR 1/31/94 2323 WILSON, DR JACK M 50.00 833829.18 16 PR23 3/01/94 CHECK DATE CHECK NO. 1/14/94 9588 1/28/94 9628 9629 9631 9636 9647 9650 9652 9654 9656 9658 9662 9667 9676 9677 9684 F%qluLt. OUTSTANDING CHECKS EMPLOYEE AMOUNT 47 SHEPHERD,ELEANOR L 1038.65 1/14/94 TOTAL 1038.65 * 1 CHECKS 110 BANKS, KERRY P. 892.05 78 GENOVESE, THOMAS 1708.10 113 LICALSI, PAMELA J. 1578.38 67 JUHOLA, SAUNDRA L. 1072.08 144 TOLLIVER, JODI K. 588.76 47 SHEPHERD,ELEANOR L 1043.65 66 GATES, WILLIAM L. 956.13 123 STEINER, EDWARD J. 766.26 20 VREEKEN, JOHN R. 734.45 58 HERMAN, JEROLD D. 1626.93 45 KIRKLAND, RICHARD L. 1046.32 120 TROUSDELL,GREG 8 1273.06 146 FERNANDEZ, HECTOR J. 592.54 10 KOCHELL, STEVE M. 1109.30 142 MONTELLANO, ENRIQUE K. 587.57 1/28/94 TOTAL 15575.58 * 15 CHECKS 6RANp TOTAL-- 1401L114,23 PAGE 1 11.17.43 17 Fiscal Year 93/94 file: RDABND92/3 La Quinta Redevelopment Agency RDA 89 series ------------------------ bond bond debt special interest payment service holding fund fund fund reserve fund totals 117204600 117204601 117204602 117204603 07/01/93 BEGINNING BAL 209.08 63.18 0.13 752,569.42 752,841.81 JUL INTEREST 0.44 0.13 0.00 1,601.88 1,602.45 AUG INTEREST 0.46 0.14 0.00 1,677.44 1,678.04 DEPOSIT 2,037,467.92 18,571.30 0.00 0.00 2,056,039.22 TRANS TO 117283401 (459,998.99) 0.00 0.00 0.00 (459,998.99) TRANS TO 117204602 (164,999.87) 0.00 164,999.87 0.00 0.00 TRANS TO 117204601 (264,842.89) 264,842.89 0.00 (18,571.30) (18,571.30) TRANS TO 117283400 (697,858.25) 0.00 0.00 0.00 (697,858.25) TRANS TO 117349300 (259,977.31) 0.00 0.00 0.00 (259,977.31) TRANS TO 117349301 (190,000.00) 0.00 0.00 0.00 (190,000.00) INTEREST PYMT 0.00 (283,477.50) 0.00 0.00 (283,477.50) PRINCIPAL PYMT 0.00 0.00 (165,000.00) 0.00 (165,000.00) SEPT INTEREST 148.23 21.04 12.17 1,681.89 1,863.33 OCT INTEREST 0.31 0.04 0.03 1,595.83 1,596.21 NOV INTEREST 0.33 0.05 0.03 1,641.22 1,641.63 DEC INTEREST 0.32 0.04 0.03 1,587.37 3,248.24 JAN INTEREST 0.33 0.05 0.03 1,660.07 1,660.48 FEB TAX INCREMENT' 0.00 0.00 0.00 0.00 0.00 FEB INTEREST 0.00 0.00 0.00 0.00 0.00 TRANS TO (117349300) 0.00 0.00 0.00 0.00 0.00 TRANS TO (117283400) 0.00 0.00 0.00 0.00 0.00 TRANS TO (117204601) 0.00 0.00 0.00 0.00 0.00 INTEREST PYMT 0.00 0.00 0.00 0.00 0.00 MAR INTEREST 0.00 0.00 0.00 0.00 0.00 APR INTEREST 0.00 0.00 0.00 0.00 0.00 MAY INTEREST 0.00 0.00 0.00 0.00 0.00 JUN INTEREST 0.00 0.00 0.00 0.00 0.00 BALANCE ------------------------------------------------------------------------------------ 150.11 x-xxxx��xxaxxxxxxxxxx-xxx----------------------------------------------------------- 21.36 12.29 745,443.82 745,627.58 18 Fiscal Year 93/94 file: RDABNDCS La Quinta Redevelopment Agency RDA 90 series ------------------------ bond bond debt excess redemption interest payment service investment fund fund fund reserve earnings totals a ssaxasaaasax=ssaaxasasaaaa=sasasssssasssssssasaaassssssaaasssssasassassaascsssssaaa=ssxssssaasxxsssssssssss 117283404 177283400 117283401 117283402 117283403 07/01/93 BEGINNING BAL 0.00 153.92 1.01 1.00 0.00 155.93 JUL INTEREST 0.00 0.33 0.00 0.00 0.00 0.33 AUG INTEREST 0.00 0.34 0.00 0.00 0.00 0.34 TRANS FROM (117204600) 0.00 697,858.25 459,998.99 0.00 0.00 1,157,857.24 INTEREST PYMT 0.00 (698,012.50) 0.00 0.00 0.00 (698,012.50) PRINCIPAL PYMT 0.00 0.00 (460,000.00) 0.00 0.00 (460,000.00) SEP INTEREST 0.00 51.81 33.93 0.00 0.00 85.74 OCT INTEREST 0.00 0.11 0.07 0.00 0.00 0.18 NOV INTEREST 0.00 0.12 0.08 0.00 0.00 0.20 DEC INTEREST 0.00 0.11 0.07 0.00 0.00 0.18 JAN INTEREST 0.00 0.12 0.08 0.00 0.00 0.20 FEB INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 TRANS FROM (117804600) 0.00 0.00 0.00 0.00 0.00 0.00 INTEREST PYMT 0.00 0.00 0.00 0.00 0.00 0.00 MAR INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 APR INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 MAY INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 JUN INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 BALANCE -------------------------------------------------------------------------------------- 0.00 52.61 34.23 1.00 0.00 ( D 87.84 19 Fiscal Year 93/94 file: RDABNDCS La Quinta Redevelopment Agency RDA 91 series ------------------------ BOND BOND INTEREST PAYMENT REDEMPTION RESERVE DEBT SERVICE FUND FUND FUND FUND FUND totals 117349300 117349301 117349302 117349303 117349304 07/01/93 BEGINNING BAL 59.92 0.00 0.00 744,966.85 - ---------------------- 5.59 745,032.36 JUL INTEREST 0.13 0.00 0.00 1,585.70 0.01 1,585.84 TRANS FROM 117349303 12,072.55 0.00 0.00 (12,072.55) 0.00 0.00 TRANS FROM 117349304 5.63 0.00 0.00 0.00 (5.63) 0.00 AUG INTEREST 0.13 0.00 0.00 1,660.50 0.02 1,660.65 TRANS FROM 117204600 259,977.31 190,000.00 0.00 0.00 0.00 449,977.31 INTEREST PYMT (272,115.66) 0.00 0.00 0.00 0.00 (272,115.66) PRINCIPAL PYMT 0.00 (190,000.00) 0.00 0.00 0.00 (190,000.00) SEP INTEREST 20.20 14.01 0.00 1,665.00 0.00 1,699.21 OCT INTEREST 0.04 0.03 0.00 1,593.71 0.00 1,593.78 NOV INTEREST 0.04 0.03 0.00 1,638.65 0.00 1,638.72 DEC INTEREST 0.04 0.03 0.00 1,585.89 0.00 1,585.96 JAN INTEREST 0.04 0.03 0.00 1,657.48 0.00 1,657.55 FEB INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 TRANS FROM (117204600) 0.00 0.00 0.00 0.00 0.00 0.00 INTEREST PYMT 0.00 0.00 0.00 0.00 0.00 0.00 MAR INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 APR INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 MAY INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 JUN INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 BALANCE -----------------------------------------------------------------------��------------- 20.37 sssssssaasssasssssssssasssaassaaaasaaaaaaaaaaaaaaaaaaaasac==asssssssssasaaaaa=aaaa== 14.13 0.00 744,281.23 (0.01)1C p44,315.72 V d s "%D -rAL ES-r4;C-rCAl is S or, e j 11490, O 3 t. J "- 20 Fiscal Year 93/94 La Quinta Redevelopment Agency RDA PA#2 92 Series JPQ,pSEC-r ESCROW SPECIAL SPECIAL INT PRINCIPLE RESERVE FUND FUND FUND FUND FUND totals azaax:xxxaaxxxaxxxxxxxmxxxxxxxxxxxxxxxxxxxxxxxxaxxxxxxxxxxxccxxxxxxxxxxxxxxxxxxxxxxxxx=xaxxxxxxxsxxaxxxxxxxxxxxxazxxx=xxxxxxxx 8116202-000 8116202-001 8116202-002 8116202-003 8116202-004 8116202-005 07/01/93 BEGINNING BAL 3,698,443.05 1,377,535.44 0.00 76.31 0.00 394,461.33 5,470,516.13 JUL INTEREST 8,615.15 3,096.40 0.00 0.17 0.00 886.66 12,598.38 AUG INTEREST 8,699.52 3,239.99 0.00 0.18 0.00 927.78 12,867.47 CK TO CITY (121,233.46) 0.00 0.00 0.00 0.00 0.00 (121,233.46) SEP INTEREST 8,538.91 3,248.55 0.00 0.18 0.00 930.23 12,717.87 OCT INTEREST 8,015.40 3,085.80 0.00 0.17 0.00 883.63 11,985.00 CK TO CITY (13,648.47) 0.00 0.00 0.00 0.00 0.00 (13,648.47) NOV INTEREST 8,201.99 3,162.65 0.00 0.18 0.00 905.63 12,270.45 CK TO CITY (54,970.18) 0.00 0.00 196,807.81 35,000.00 0.00 176,837.63 DEC INTEREST 8,277.07 3,198.61 0.00 144.19 25.61 915.94 12,561.42 DEBT SERV PYMT 0.00 0.00 0.00 (196,885.00) (35,000.00) 0.00 (231,885.00) FEB INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 MAR INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 APR INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 MAY INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 BOND PYMT FROM CITY 0.00 0.00 0.00 0.00 0.00 0.00 0.00 JUN INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 0.00 trns to 8116202-003 0.00 0.00 0.00 0.00 0.00 0.00 0.00 debt sere int pymt 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -------------- '----------- ----------------------------------..c-�----�r=-.u=�'=� ------------------ BALANCE 3,558,938.9 1,396,567.44 0.00 144.19 25.61 lE f 399,911.20 5,355,587.42 '17. j4 t zS.b/ z�f6, 9 9 21 LA QUINTA FINANCING AUTHORITY TREASURER'S REPORT JANUARY 31, 1994 ASSETS UNDER THE INVESTMENT DIRECTION OF THE FINANCING AUTHORITY TREASURER. TYPE OF MATURITY INTEREST INVESTMENT ---------- INSTITUTUION ------------ DATE -------- RATE -------- AMOUNT RANK ------ ---- CIVIC CENTER BOND PROCEEDS: CASH-CONSTRUCTIONBANK OF AMERICA DEMAND 2.23 $2,182 2 CASH -RESERVE BANK OF AMERICA DEMAND 2.23 750,157 2 CASH -REDEMPTION BANK OF AMERICA DEMAND 2.23 46,982 2 TOTAL ------------- $799,321 ------------ 22 Fiscal Year 93/94 La Quinta Financing Authority Revenue Bonds Series 91 BOND RESERVE CONSTRUCTION REBATE FUND FUND FUND FUND totals 117355200 117355201 117355202 117355203 07/01/93 BEGINNING BAL 318,013.93 738,855.48 1,282.18 0.00 0.00 1,058,151.59 JUL INTEREST 683.94 1,589.04 872.22 0.00 0.00 3,145.20 AUG INTEREST 709.50 1,648.42 4.49 0.00 0.00 2,362.41 TRANS TO 147607 CRING 0.00 0.00 0.00 0.00 0.00 0.00 SEP INTEREST 709.57 1,648.58 4.79 0.00 0.00 2,362.94 INTEREST PYMT-10/01/93 (274,176.25) 0.00 0.00 0.00 0.00 (274,176.25) OCT INTEREST 680.79 1,582.70 4.60 0.00 0.00 2,268.09 NOV INTEREST 159.36 1,607.96 4.68 0.00 0.00 1,772.00 DEC INTEREST 98.87 1,578.79 4.59 0.00 0.00 1,682.25 TRANS 09160-15464 CRING 0.00 0.00 0.00 0.00 0.00 0.00 JAN INTEREST 103.07 1,645.75 4.79 0.00 0.00 1,753.61 FEB INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 MAR INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 trans 0916-15464 CRING 0.00 0.00 0.00 0.00 0.00 0.00 APR INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 INTEREST PYMT 0.00 0.00 0.00 0.00 0.00 0.00 MAY INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 JUN INTEREST 0.00 0.00 0.00 0.00 0.00 0.00 trans 0916-15464 cking ------------------------------------------------------------------------------------ 0.00 0.00 0.00 0.00 0.00 BALANCE 46,982.78 750,156.72 2,182.34 0.00 0.00 799,321.84 ✓r ✓ V 23 4 4a MEMORANDUM TO: Investment Advisory Board FROM: J. T. Woods RE: Investment Policies DATE: March 8, 1994 Attached are Investment Policies from the following agencies: a. Coachella Valley Joint Powers Insurance Authority b. City of Palm Desert C. City of Moorpark Coachella Valley Joint Powers Insurance Authority /jn) COACHELLA VALLEY JOINT POWERS INSURANCE AUTHORITY we me MEMORANDUM To : Board of Directors From : Staff Re : Revised Investment Policy Date : January 21, 1993 Enclosed is a copy of the revised Investment Policy which was adopted at the January 19, 1993 Board of Directors meeting. This revised policy should be placed in ,your Operatiot3s- Manual in section VI. Finance 3. Investment Policy. 73-710 Fred Waring Drive, Suite 200, Palm Desert, CA 92260 (619) 341-0492 FAX (619) 340-5949 COACHELLA VALLEY JOINT POWERS INSURANCE AUTHORITY STATEMENT OF INVESTMENT POLICY JANUARY 1993 REVISED BY THE CITY OF PALM SPRINGS Tom Kanarr, Director of Finance & Treasurer COACHELLA VALLEY JOINT POWERS INSURANCE AUTHORITY STATEMENT OF INVESTMENT POLICY TABLE OF CONTENTS Page I. Overview............................................1 Investment Policy Investment Objectives Scope of Investment Policy II. Investment Authority and Responsibilities ............ 2 Authorized Investment Officers Internal Control Evaluation of Investment Officer Actions III. Capital preservation and Risk.......................2 Overview Portfolio Diversification Practices IV. Eligible Financial Institutions ....................3 Credit -Worthiness Standards and Portfolio Diversification Selection of Eligible Financial Institutions and Reporting Requirements Individual Placement of Investments V. Authorized Investments ..............................5 State of California Limitations JPIA Limitations VI. Investment Maturity.................................7 VII. Cash Management.....................................7 VIII. Evaluation of Investment Performance................8 IX. Investment Reporting................................8 X. Investment Policy Review ............................8 I. OVERVIEW INVESTMENT POLICY It is the policy of the Coachella Valley Joint Powers Insurance Authority (JPIA) to invest public funds to achieve a reasonable - rate of return while minimizing the potential for capital losses arising from market changes or issuer default, to meet the daily cash flow needs of the JPIA, and to comply with all laws of the State of California regarding the investment of public funds. INVESTMENT OBJECTIVES The JPIA's primary investment objectives, in priority order, are: A. Safety of Principal Safety of principal is the JPIA's foremost objective of the investment program. Investments shall be undertaken in a manner that seeks to ensure that capital losses resulting from institution default, broker -dealer default, or the erosion of market value are avoided. B. Liquidity Liquidity is the second most important objective of the investment program. The investment portfolio shall remain sufficiently liquid to enable the JPIA to meet all operating requirements. At all times, at least 50% of the total portfolio shall be invested for periods of three years or less; at least 30% of the total portfolio shall be invested for two years or less; at least 20% of the total portfolio shall be invested for 1 year or less. C. Yield The JPIA's portfolio shall be invested with the objective of attaining a market rate of return at all times. The market rate of return is defined as the average return on the one- year U. S. Treasury Bill. Whenever possible and in a manner consistent with the objectives of safety of principal and liquidity, a yield higher than the market rate of return shall be sought. SCOPE OF INVESTMENT POLICY Included in the scope of the JPIA's investment policies are the following major guidelines and practices which are to be used in achieving the JPIA's primary investment objectives: Investment Authority and Responsibilities Capital Preservation and Risk 1 Eligible Financial Institutions Authorized Investments Investment Maturity Cash Management Evaluation of Investment Performance Investment Reporting Investment Policy Review These policies apply to all financial assets of the JPIA. INVESTMENT AUTHORITY AND RESPONSIBILITIES AUTHORIZED INVESTMENT OFFICERS The Board of Directors of the JPIA have appointed the City of Palm Springs to undertake investment transactions on behalf of the JPIA. Unless otherwise specifically designated by the Board of Directors, the only officials authorized to undertake investment transactions on behalf of the JPIA are the Accounting/Claims Specialist of the JPIA, and the following employees of the City of Palm Springs: Director of Finance/Treasurer, Deputy City Treasurer or City Manager. The actual disbursement of funds for the placement of individual investments shall be subject to second -party approval by any one of the following officials listed in the order they are to be contacted: the Finance Director of the JPIA and the General Manager of the JPIA. INTERNAL CONTROL The City of Palm Springs, in conjunction with the Finance Director, is responsible for ensuring compliance with the JPIA's investment policies as well as establishing internal controls designed to prevent losses due to fraud, employee error, misrepresentation by third parties, or unanticipated changes in financial markets. EVALUATION OF INVESTMENT OFFICER ACTIONS The actions of JPIA's investment officers in the performance of their duties as managers of public funds shall be evaluated using the following "prudent person" standard applied in the context of managing the overall portfolio: Investments shall be made with judgment and care, under circumstances then prevailing, which persons of prudence discretion, and intelligence exercise in the management of their own affairs, not for speculation, but for investment, considering the probable safety of their capital as well as the probable income to be derived. JPIA's investment officers acting in accordance with written policies and the "prudent person" standard and exercising due diligence shall be relieved of personal responsibility for an `a individual security's credit risk or market price changes, provided that substantial deviations from expectations are reported by the Treasurer to the CVAG Executive Director and the General Manager of the JPIA within three days of discovery. Mutually agreeable remedial action will be taken by these three individuals, and reported to the Board of Directors at the next Board meeting. III. CAPITAL PRESERVATION AND RISK OVERVIEW Some level of risk is inherent in any investment transaction. Losses may be incurred due to insurer default, market price changes, or closing investments in non -marketable certificates of deposit prior to maturity due to unanticipated cash flow needs. Diversification of the JPIA's portfolio by institution, investment vehicle, and maturity term is the primary tool available to the JPIA to minimize investment risk and capital losses. PORTFOLIO DIVERSIFICATION PRACTICES The following sections summarize the JPIA's major portfolio diversification practices and guidelines in determining: Eligible Financial Institutions Allowable Investment Vehicles Investment Maturities It should be noted that all portfolio limitations for financial institutions, investment vehicles and scheduled maturities included in these policies are to be based on the portfolio at the time of placement. The actual composition of the JPIA's investments may vary over time from policy limitations due to overall portfolio changes that occur subsequent to the time of placement. IV. ELIGIBLE FINANCIAL INSTITUTIONS CREDIT WORTHINESS STANDARDS AND PORTFOLIO DIVERSIFICATION The following general criteria relating to credit -worthiness and portfolio diversification will be used for selecting financial institutions for the placement of the JPIA's investments: The financial capacity and credit worthiness of the financial institution shall be considered prior to the placement of investments. Banks and Savings and Loans must have a rating of at least A-1 from the Financial Directory (or equivalent rating from another generally recognized authority on ratings), and have an Equity to Total Assets ratio of at least 4%. No more than 15% of the JPIA's portfolio (exclusive of 3 investments in government agency issues and the State Treasurer's Local Agency Investment Fund) shall be placed with any financial institution. No more than 25% of the JPIA's portfolio shall be invested in collateralized certificates of deposit issued by savings and loan institutions. Collateralized certificates of deposit placed by the JPIA shall not constitute more than 15% of the total assets of the institution. SELECTION OF ELIGIBLE FINANCIAL INSTITUTIONS AND REPORTING REQUIREMENTS All financial institutions including broker/dealers which desire to become qualified bidders for the JPIA's investment transactions must supply the JPIA with the following: Audited financial statements for the last three years and subsequent quarterly financial statements. Completed broker/dealer or bank/savings and loan questionnaire including certification that the financial institution has reviewed the JPIA's Statement of Investment Policy and applicable California Government Code sections, that it will -exercise due diligence in monitoring the activities of its officers and employees engaged in transactions with the JPIA, and that it will ensure that its officers and employees who offer investments to the JPIA are trained in the precautions appropriate for public sector investments. The City of Palm Springs shall review the information submitted and shall forward the results of its evaluation with a recommendation to the Finance Director of JPIA for concurrence and designation of the institution as eligible for the placement of the JPIA's investments. A current audited financial report prepared by an independent certified public accountant shall be annually submitted to the JPIA within 6 months after the end of the institution's fiscal year. INDIVIDUAL PLACEMENT OF INVESTMENTS Individual placement of investments with eligible financial institutions shall be based on the following practices and procedures: With the exception of the State Treasurer's Local Agency Investment Fund and broker/dealers, investments shall only be placed with financial institutions maintaining a 4 branch within the State of California. Investments with broker/dealers shall only be placed with those maintaining branch offices within the State of California and that are designated Primary Dealers by the Federal Reserve Bank of New York. As discussed in more detail in Section V, unless collateralized by eligible securities as provided in Sections 53651 and 53652 of the Government Code, the maximum amount of certificates of deposit to be placed with any single bank or savings and loan institution is $100,000. Investments in repurchase or reverse repurchase agreements shall not be allowed. All marketable securities purchased shall be held by the JPIA's third -party custodian. Securities purchased from a broker dealer shall be held in third party safekeeping by the Trust Department of JPIA bank, and in the JPIA name and control. No outside broker, dealer or advisor may have access to JPIA funds, accounts or investments, and any transfer or funds to or through an outside broker must be authorized by the Treasurer. Except for placements with the State Treasurer's Local Agency Investment Fund, investments shall be awarded based on competitive bids. Documentation relating to investment quotes shall be maintained by the JPIA for 3 years. Within the context of the JPIA's policies regarding competitive bidding and portfolio limitations, investments shall be distributed as evenly as possible between financial institutions. V. AUTHORIZED INVESTMENTS STATE OF CALIFORNIA LIMITATIONS As provided in Sections 16429.1, 53601, 53601.1 and 53649 of the Government Code, the State of California limits the investment vehicles available to local agencies as summarized in the following paragraphs. Section 53601, as now amended, provides that unless Section 53601 specifies a limitation on an investment's maturity, no investments with maturities exceeding five years shall be made unless the Board of Directors has previously granted authority to do so. Adoption of the Statement of Investment Policy by the Board of Directors does not constitute authority to acquire investments with 5 maturities exceeding five years. State Treasurer's Local Agency Investment Fund (LAIF) - As authorized in Government Code Section 16429.1 and by LAIF procedures, local government agencies are each authorized to invest a maximum of $15 million in the investment program administered by the California State Treasurer. Money invested with LAIF is pooled with State money in order to earn the maximum rate of return possible in the manner consistent with sound investment practices. Government Agency Issues - As authorized in 'Government Code Sections 53601(a) through (e), this category includes a wide variety of government securities which include the following: Local government bonds or other indebtedness State bonds or other indebtedness U.S. Treasury notes or other indebtedness secured by the full faith and credit of the federal government Other federal agency securities including but not limited to issues by the Government National Mortgage Association, and the Federal Home Loan Mortgage Corporation Bankers' Acceptances - As authorized in Government Code Section 53601(f), 40% of the JPIA's portfolio may be invested in bankers' acceptances that are eligible for purchase by the Federal Reserve system, although no more than 30% of the portfolio may be invested in bankers' acceptances with any one commercial bank. Additionally, the maturity period cannot exceed 270 days; however, bankers' acceptances are seldom marketed with maturities in excess of 180 days. BA must be issued by a top ten bank in terms of total assets. Commercial Paper - As authorized in Government Code Section 53601(g)1 15% of the JPIA's portfolio may be invested in commercial paper of the highest rating (A-1 or P-1) as rated by Moody's or Standard and Poor's, with maturities not to exceed 180 days. This percentage may be increased to 30% if the dollar weighted average maturity does not exceed 31 days. There are a number of other qualifications regarding investments in commercial paper based on the financial strength of the corporation and the size of the investment. No more than 5% of the total portfolio or $500,00, whichever is lower, may be invested in any one institution or company. Negotiable Certificates of Deposit - Not an allowable investment. Repurchase and Reverse Repurchase Agreements - Not allowed. 6 Corporate Notes and Diversified Management Companies - As authorized in Government Code Sections 53601(j) and (k), local agencies may invest in corporate notes for a maximum period of five years in an amount not to exceed 30% of the agency's portfolio. The notes must be issued by corporations organized and operating in the United States or by depository institutions licensed by the United States or any state and operating in the United States. Financial Futures and Financial Option Contracts - Not allowed. Certificates of Deposit - As authorized in Government Code Section 53649, certificates of deposit are fixed term investments which are required to be collateralized from 105% to 150% depending on the specific security pledged as collateral. The collateral pool is administered by the State, and is composed of a wide variety of government securities, including those indicated above, as well as promissory notes secured by first mortgages on improved residential property located in the State and letters of credit issued by Federal Home Loan Bank of San Francisco. There are no portfolio limits on the amount or maturity for this investment vehicle. JPIA LIMITATIONS All investment vehicles allowed by Sections 16429.1, 53601, 53601.1 and 53649 of the Government Code may be used by the JPIA with the exception of repurchase and reverse repurchase agreements, shares of beneficial interest issued by DMCs, financial futures and financial options contracts. Exclusion of these vehicles is consistent with the JPIA's overall objective of achieving reasonable yields on public funds while minimizing risk and capital losses. Although the potential exists for greater interest yields with these vehicles, it is believed that the potential level of risk exceeds their benefits. In addition, at no time will the JPIA's portfolio contain more than $1 million of certificates of deposit purchased from the same bank or savings and loan. IV. INVESTMENT MATURITY In addition to the risks associated with the credit -worthiness of the financial institution and the security of the investment vehicle, the maturity period of investments is also a significant consideration in the management of the JPIA's portfolio. In order to minimize the impact of market risk, it is intended that all investments will be held until maturity. In implementing this policy, the following guidelines will be used: Projected cash flow requirements are the primary factor to be used in determining investment maturity terms. After cash flow needs have been met, yield considerations will be the next factor used in determining maturity terms, with the expectation that longer maturity periods will generally yield greater returns on investments. Investments may be sold prior to maturity for cash flow or appreciation purposes. However, no investment shall be made based solely on yields resulting from capital gains. Investments longer than one year may be made if consistent with the JPIA's cash flow needs and related intent of holding until maturity. However, unless Government Code Section 53601 specifies a limitation on an investment's maturity, no investment with maturities exceeding five years shall be made unless the Board of Directors has previously granted authority to do so. VII. CASH MANAGEMENT To achieve a reasonable return on public funds, the following cash management practices will be used: To maintain maximum investment of all JPIA funds not required to meet immediate cash flow needs. To pool resources available for investment from all JPIA- administered funds, with interest earnings allocated to each of the funds based on individual fund cash and investment balances. To maximize the JPIA's cash flow through the immediate deposit of all cash receipts, use of direct deposits when available, and appropriate timing of payments to vendors. To maximize the cash flow information available through the use of only one operating bank account. VIII. EVALUATION OF INVESTMENT PERFORMANCE As indicated previously, it is the JPIA's policy to achieve a reasonable rate of return on public funds while minimizing risks and preserving capital.. In evaluating the performance of the JPIA's portfolio in complying with this policy, it is expected that yields on JPIA investments will regularly meet or exceed the average return on the one-year U. S. Treasury Bill. IR. INVESTMENT REPORTING The City of Palm Springs shall submit an annual Statement of Investment Policy to the Board of Directors for their approval. This Statement shall be filed by January 31 of each year. In addition to the submittal of an annual Statement of Investment Policy, the Finance Director of the JPIA shall provide the Board of Directors with a Monthly Cash and Investment Report providing the 8 type of investment, name of financial institution from which each investment from which each investment was purchased, purchase date, maturity date, purchase price, market value if the investment term exceeds one year from the effective date of the Cash Investment Report, the portfolio's compliance with the requirements of the Statement of Investment Policy, and the reports compliance Governmental Accounting Standards Board Statement Number 3. The Monthly Cash and Investment Report shall include all investments held in the JPIA's portfolio as of the end of the month and shall be issued within 60 days after the end of the monthly reporting period. X. INVESTMENT POLICY REVIEW The JPIA's independent Certified Public Accountant shall annually review and make recommendations regarding the JPIA's investment policies to the extent considered necessary as required by generally accepted auditing standards as the relate to the annual financial audit which includes cash and investments. 9 City of Palm Desert CITY OF PALM DESERT INVESTMENT POLICY 1. PURPOSE Exhibit A This Statement is intended to provide direction for the investment of the City's temporary idle cash. The City's. ultimate investment goal is to enhance the economic condition of the City while insuring the safety of funds invested and assuring that money is always available when needed. 2. OBJECTIVES The City strives to maintain the level of investment of all idle funds as near 100% as possible, through the optimum operation of its cash management system which is designated to accurately monitor and forecast expenditures and revenue. The City attempts to obtain the highest yield on its' investments consistant with preservation of principal and liquidity. 3. DELEGATION OF AUTHORITY The City invests in the spectrum of instruments allowable under the Government Code Section 53600 et seq. of the State of California. The City Council delegated the authority to invest to the City Treas::rer, or his delegate, in Chapter 3.08 section .010 of the Palm Desert Municipal Code. 4. INVESTMENT INSTRUMENTS The City investE in the following investment instruments as approved by the California Government Code: - Securities of the U.S. Government or its' Agencies - Local Agency Investment Fund (L.A.I.F.) - Certificates of Deposit (Time Deposits, C.D.'s) - Negotiable Certificates of Deposit - Other investments that are, or may become, legal investments through the State of California Government Code and with prior approval of the City Council. 5. POLICY CRITERIA FOR SELECTING INVESTMENTS, IN ORDER OF PRIORITY A) SAFETY Safety and the minimizing of risk associated with investing refers to attempts to reduce the potential for loss of principal, interest or a combination of the two. The first level of risk control is found in state law which restricts the particular type of investments permissable for municipalities. The second level of risk control is reduction of default risk by investing in instruments that appear upon examination to be the most credit worthy. The third level of risk control is reduction of market risk by investing in instruments that have maturities coinciding with dates of disbursement, thereby eliminating risk of loss from a forced sale. The City only invests in those instruments that are considered very safe. B) LIQUIDITY The City utilizes Local Agency Investment Fund for such purposes whereby the City may liquidate all or any portion of the funds invested within 24 hours with no penalty. The City invests in Time Certificates of Deposits issued by banks and savings and loan companies, whose maturities are selected in anticipation of disbursment needs, thereby obviating the need for forced liquidation or lost interest penalties. C) YIELD Yield is the potential dollar earnings an investment can provide, and also is sometimes described as the rate of return. The City attempts to obtain the highest yeild possible when selecting an investment. 6. SELECTION OF INVESTMENT CONTACTS The City maintains a "Bid List" which contains various banks, savings and loans and brokers. When the City has funds available, letters are sent requesting bids from institutions on the List, each bidding institution is reviewed by the Treasurer for their relative strength and safety features. 7. INVESTMENT CONTROLS The City Treasurer oversees all the City's investments. 8. INVESTMENT REPORTS A) The Treasurer annually renders a Statement of Investment Policy to the City Council for their approval. B) The Treasurer renders a monthly investment report to the City Manager and City Council showing the type of invest- ment, institution, date of maturity, amount of deposit and interest earnable. 9. INVESTMENT AUDITS Annually, there is an external audit of the City's investment activity to assure compliance with all applicable laws and policies. 10. INVESTMENT/FINANCE COMMITTEE The City utilizes a Finance Committee, comprised of the Mayor, City Manager, Assistant City Manager/RDA Director and Finance Director, to insure stability and constant information flow as it relates to investments and other finance activities. City of Moorpark MOORPARK AiN PATRICK LANE -- Mayor ELOISE BROWN syor Pro Tem JOHN GALLOWAY Councilmember ;:LINT HARPER, Ph.D. Councilmember aEANARDO M. PEREZ Councilmember MAUREEN W. WALL City Clerk TELECOPIER MESSAGE STEVEN KUENY City Manager CHERYL J. KANE City Attorney PATRICK RICHARD$, A.I.C.P. Director of Community Development R. DENNIS DELZEIT City Engineer JOHN V. GILLESPIE Chlef of Police THOMAS P. GENOVESE City Treasurer FROM: -/�..3 LN SUBJECT: TELECOPIER #: TOTAL NUMBER OF PACES: ( including this page) TIME SENT: ff s:: , m DATE: I �f OPERATOR'S INITIALS: **FOR ASSISTANCE CALL: (805) 529-6864 TELECOPIER: (805) 529-92.70 799 Moorpark Avenue Moorpark, California 93021 (805) 529-6864 CITY OF MOOIt ARK Statement of 1 nvos tment Pol i c.y_ PURPOSE This statement is intended to provide guidelines for the prudent investment of the City's temporary idle cash, and outline the policies for maximizing the efficiency of the City's cash management system. The ultimate goal is to enhance the economic status of the City while protecting its pooled cash. OBJECTIVE The City's cash management system is designed to accurately monitor and forecast expenditures and revenues, thus enabling the City to invest funds to the fullest extent possible. The City attempts to obtain the highest yield obtainable as long as investments meet the Criteria established for safety and liquidity. POLICY The City of Moorpark operates its temporary pooled idle cash invest- ments under the prudent man rule (Civil Code Section 2261, et seq) _ (copy attached). This affords a broad spectrum of investment oppor- tunities so long as the investment is deemed prudent and is allowable under current legislation of the State of California and other imposed legal restrictions. The City of Moorpark strives to maintain the level of investment of idle funds as near to 100% as possible, through daily and projected cash flow determination. Idle cash management and investment transactions are the responsibility of the City Treasurer. Investments are made under the terms and conditions of Sections 53600-52684 of the Government Code of California. Criteria for selecting investments and the order of priority are: 1. SAFETY Safety and the minimizing of risks associated with investments refers to attempts to reduce the potential loss of principal, interest, or a combination of the two. The first level of control is in State Law which restricts municipalities to certain investment instruments. The second level of risk control is the investment in instruments that appear on examination to be the most credit worthy. The third level of control is in the reduction of market risk by investing in sufficient instruments that have maturities coinciding with dates of disbursement. Moorpark only invests in those instruments that are considered very safe. 2. QUIDITY - f_iquidity is the ability to easily sell at any Lime with the minimal risk of losing some portion of principal or interest. Liquidity is an extremely important quality as the City may have an unexpected need for funds to be disbursed occasionally. Most investments are highly liquid, with the exception of collateralized or insured term certificates of deposit issued by banks and savings and loans. Certificate maturities are selected to anticipate cash needs, thereby eliminating the need for forced liquidation. 3. YIELD Yield is the potential dollar earning an investment can provide or "rate of return". Moorpark attempts to obtain the highest yield possible when selecting an investment, provided that the criteria stated in the Investment. Policy for safety and liquidity are met and the investment guideline and strategy are adherred to. Investments may be made in the following: Securities of the U. S. Government and obligations of its agencies; Registered treasure notes, bonds, or legal obligations of the State of California; Certificates of Deposits, placed with commercial banks and savings and loans; Bankers Acceptances; Repurchase Agreements; Commercial Paper; negotiable Certificates of Deposit; Local Agency Investment Fund Demand Deposits; Passbook Savings Account Demand Deposits; Interest Bearing Demand Deposits. Government and agency securities are the highest quality investments available in terms of safety and liquidity. Certificates of Deposit, savings accounts, repurchase agreements, and bankers acceptances are insured or collateralized. Only commercial paper with both A-1 Moody's and P-1 Standard and Poor's ratings may be purchased. The City of Moorpark operates its investment program with many Federal and State, and self-imposed constraints. It does not buy stocks, or deal in futures, options, or security loans agreements. To maximize investment income, the City of Moorpark uses all available economically feasible investment; aids. Economic conditions and various money markets are monitored in order to assess the probable course of interest rates. The final basic premise underlying the City of Moorpark investment philosophy is to insure the safety of Existing funds and insure that they are always readily available when needed. CiVII_ CODE BENEFIT OF ?HiRD PERSONS j =1 de%iatc from the terms of the trust regarding the making or retention of investmenm (S) The provisions of this section &hail apply to all trusts now existing or hcscafter created. IA%ere.. in trusts now existing or hcreaf= created, the term "investments permissible by law for investment of trust funds," or "authorized by law for investment of trust funds," "legal investments," or "sothorized investments," or other words of -Similar import are used in defining the powers of the trust ce rclativty to investments. such language, in the absence of other controlling or modifying p:ONzSiorn Of the trust instrument, shall be construed as authorizing any investment permitted by the terms of subdivision (1) of this section. (6) The term "properir as used in this section includes lift insur- ance, endowment, and annuity contracts issued by legal reserve companies authorized to do business in this sUte. Enacted 1872; Amcnded State 1943 ch III f l p 2607; Stets 1967 ch 6SS 11 p 2054, cb 17% f I p 4:65, State 1969 ch 161 j I p 385, St.ats 1969 eb 259 I p 611. Prior Law: Field's r�rafi N*y CC j 1199. Amendment= 194" A•n►endrneAC-prkW to 1943 the S=t!on read: 'A truster must invmt r OM7 reccil-ad b: hint under the trust. as fast as he ealkcu a sufficient amount. in such Manne7 as to afford ressonable srruriq need isttetcst for the sassu — 1943 Amendment amended she tcctian to read as at ptcs=t t CW f Amendmattt or the foAoriag 1967 Amendment: M Added the sceand tenleocr of tubd (y. (2) de3ctad "saviap bank or the saYinfs dcparimcsat of any" after interest in arty" in subd (3). and (3) delved `Ybe savings dcparunenl or* after "(1ntluding' in subd (3). 196E Amendment .Added subd (6). 1969 .Amendment: Added ; tend stock in any c..ntrorirtl coniticUed by. or under common control with suctr trustee" at the end or subd (2)_ Cross Referents Liability of truster in connect;ou with issue of shuts: Corp C f 413- Invtstment of trust funds received b? trust company: Fir, C 11561. Deposit of t utt company funds aw*hint investment of distribution: Fin c- E_ t S9? o •' Cu'*VAMk bsid in rout in name of Don='er ••` �•.�••, o( 1.rvst csarziputy: FM C 1563. Cos Man truer funds: Fie! C 13NW. _ Shares of tavinp and loan aswc6tions as kfal laves:rsscAU: Fin C 16407. 1nves1rnent Cxrtibeates k:utd by sav np and loan associations as k111 investm= Fur C f 640L Federal Savings and loan astaciatio' = F"am C j 112". NA60W tnor:ga fc ass-0cialion obligations: Fist►► C 6127000 a U4 Farm iaan bond:• Gov C 16160. Pms;on trust fund:- Gov C 13323&.i' .: Invesutntal of Unearned premium r+tWftV of thk im for.- 3as C i 123M MOM92fe ysniripation certi!icstes and securities guaranamd by atortfa=e policies as kga) uwcstmentt for trust funds: Ins C i 125U... . , - . Ccniliestes and tr&Wcn a share, or other SwUr les held b;. 5ducj&A': i3CC I fit. Establithment of common trims by Department of Menzel I;calth. �0.' is I C 172U Municipal water district bonds_ Wat Uneod /Act $47. CIVIL CODE § 2261. (Investment of funds] (1) In investing, reinvesting, purchasing, acquiring, exchanging, selling and managing property for the benefit of another, a trustee shall exercise the judgment and care, under the circumstances then prevai.I. ing, which men of prudence, discretion and intelligence exercise in the management of their own affairs, not in regard to speculation, but in regard to the permanent disposition of their funds, considering the probable income, as well as the probable safety of their capitaL Within the limitations of the foregoing standard, and subject to any express provisions . or limitations contained in any particular trust instrument, a trustee is authorized to acquire every kind of propcxty, real, personal or mixed, and every kind of investmmnt, spM:h:.ally including, but not by way of limitation, corporate obligations of every - - kind, and stocks, preferred or common, which men of prudence, =- discretion and intelligence acquire for their own account. (2) In the absence of express provisions to the contrary in the trust instrument, a trustee may continue to hold property received into a oust at its inception or subsequently added to it or acquired pursuant to proper authority if and as long as the trustee, in th. exercise of good faith and of reasonable prudence, discretion and intelligence. may consider that retention is in the best interests of the trust. Such property may include stock in the trustee, if a corporation, and stock in any corporation controlling, controlled by, or under common control with such truster- (3) In the absence of express provisions to the contrary in the trust instrumcnt, a deposit of trust funds at interest in any bank (including the trustee; if a bank) shall be a qualified investment to the- extent that such deposit is insured under any present or future law of the United States, or .to such greater extent as a court of . competent jurisdiction may authorize, Nothing in this section shall be construed as limiting the right of trustees in proper casts to make deposits_ of trust moneys in banks,, subject, in the cue of interest•bearing deposits, to such notice or other conditions respecting withdrawal as may-- be prescribed by law or governmental regulation afrecting such deposits.._: (4) Nothing in this section shall abrogate or restrict the power of the Appropriate court in proper cases to direct or permit the truste~ to 0-7