1996 12 11 IABT6 0 6j
4hf 4 4a QuiAra
78-495 CALLE TAMPICO - LA QUINTA, CALIFORNIA 92253 - (619) 777-7000
FAX (619) 777-7101
AGENDA
INVESTMENT ADVISORY BOARD
Study Session Room
78-495 Calle Tampico- La Quinta, CA 92253
December 11, 1996 - 5:30 P.M.
I CALL TO ORDER
a. Pledge of Allegiance
b. Roll Call
II CONFIRMATION OF AGENDA
III PUBLIC COMMENT - (This is the time set aside for public comment on any matter not scheduled on the agenda.)
IV CONSENT CALENDAR
A. Approval of Minutes of Meeting on November 13, 1996 for the Investment
Advisory Board.
V BUSINESS SESSION
A. Transmittal of Treasury Report for October 31, 1996
VI CORRESPONDENCE AND WRITTEN MATERIAL
A. Month End Cash Report - November 1996
B. Investment Liquidity and Anticipated Revenues
C. Reporting to the City Council - Status Update
D. LAIF Questionnaire
VII BOARD MEMBER ITEMS
VIII ADJOURNMENT
MAILING ADDRESS - P.O. BOX 1504 - LA QUINTA, CALIFORNIA 92253(
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OF TNT
INVESTMENT ADVISORY BOARD Business Session Item No. A
Meeting Date: December 11, 1996
TITLE:
Transmittal of Treasury Report
for October 31, 1996
BACKGROUND:
Attached please find the Treasury Report for October, 1996.
RECOMMENDATION:
Review, Receive and File the Treasury Report of October 31, 1996.
Jdhn M. FalcoAer, Finance Director
TO:
FROM:
SUBJECT:
DATE:
T 6 4hf 4 4Q�rw
MEMORANDUM
La Quinta City Council
John Falconer, Finance Director/Treasurer
Treasurer's Report for October 31, 1996
December 3, 1996
Attached is the Treasurer's Report for the month ending October 31, 1996. This report is submitted to the
City Council each month after a reconciliation of accounts is accomplished by the Finance Department.
Cash and Investments:
Increase of $421,981. due to the net effect of revenues in excess of expenditures.
State Pool:
ICMA:
Decrease of $148,729. due to the net effect of transfers to and from the cash and
investment accounts.
Increase of $32,591. due to interest earned.
U.S. Treasury Bills:
Increase of $443,885. due to the net purchase and sale of 2 U.S. Treasury Bills.
Mutual Funds:
Decrease of $1,117,009. due to the net effect of transfers from investments to cash, debt
service payments and interest earned.
Total decrease in cash balances $367,281.
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 Wall Street Journal and Wells Fargo Monthly Custodian Report to determine the fair
market value of investments at month end.
bhn M. Falconer
inance Director/Treasurer
iv 3/9k
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CITY OF LA QUINTA
BALANCE SHEET 10/31/96
CITY
ASSETS:
POOLED CASH
2,079,058.50
INVESTMENT T-BILL
9,866,027.78
LQRP CASH
LQRP INVESTMENT IN POOLED CASH
BOND REDEMPTION CASH
BOND RESERVE CASH
BOND PROJECT CASH
BOND ESCROW CASH
PETTY CASH
1,000.00
ICMA DEFERRED COMPENSATION
593,838.92
CASH & INVESTMENT TOTAL
12,539,925.20
ACCOUNTS RECEIVABLE
8,608.75
PREMIUM/DISCOUNT ON INVESTMENT
23,239.16
LQHP-ACCOUNTS RECEIVABLE
INTEREST RECEIVABLE
LOAN/NOTES RECEIVABLE
DUE FROM OTHER AGENCIES
DUE FROM OTHER GOVERNMENTS
DUE FROM OTHER FUNDS
10,504.97
DUE FROM RDA
6,048,957.20
INTEREST ADVANCE -DUE FROM RDA
806,527.68
NSF CHECKS RECEIVABLE
1,429.15
ACCRUED REVENUE
TRAVEL ADVANCES
EMPLOYEE ADVANCES
PREPAID EXPENSES
RECEIVABLE TOTAL
6,899,266.91
WORKER COMPENSATION DEPOSIT
RENT DEPOSITS
CITY CITY RDA
RDA FA
FIXED LONG TERM FIXED
LONG TERM FINANCING LONG TERM
GRAND
ASSETS DEBT RDA ASSETS
DEBT AUTHORITY DEBT
TOTAL
6,707,224.69
8,786,283.19
9, 866, 027.78
19,617.95
19,617.95
215,000.00
215,000.00
358.74
(12,413.30)
(12,054.56)
397,674.45
723,603.31
1,121,277.76
12,982,131.05
12,982,131.05
10,257.71
10,257.71
1,000.00
593, 838.92
20, 332,264.59
711,190.01
33, 583, P79.80
64,800.23
73,408.98
23,239.16
6,779.57
6,779.57
95,445.00 95,445.00
551, 038.04 561, 543.01
6,048,957.20
806, 527.68
1,429.15
718,062.84 7,617,329.75
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
15,981,208.00
11,526,745.05
27,507,953.05
AMOUNT AVAILABLE TO RETIRE L/T DEBT
2,340,653.00
2,340,653.00
AMOUNT TO BE PROVIDED FOR L!T DEBT
298,816.00 90,414,435.84
8,030,000.00 98,743,251.84
TOTAL OTHER ASSETS
15,981,208.00
298,816.00 11,526,745.05 92,755,088.84
8,030,000.00 128,591,857.89
TOTAL ASSETS
19 441 367.11 15,981 208.00
298 816.00 21,050,327.43 11,526,745.05 92 755 088.84
711,190.01 8,030,000.00 169,794,742.44
LIABILITY
ACCOUNTS PAYABLE
165,432.00
DUE TO OTHER AGENCIES
51,222.18
DUE TO OTHER FUNDS
10,504.97
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
PAYROLL LIABILITIES
(68,798.79)
STRONG MOTION INSTRUMENTS
1,452.54
FRINGE TOED LIZARD FEES
95,995.40
SUSPENSE
DUE TO THE CITY OF LA QUINTA
PAYABLES TOTAL
255,808.30
ENGINEERING TRUST DEPOSITS
107,046.26
SO. COAST AIR QUALITY DEPOSITS
ARTS IN PUBLIC PLACES DEPOSITS
112,534.42
LQHP DEPOSITS
DEVELOPER DEPOSITS
147,449.71
MISC. DEPOSITS
475.00
AGENCY FUND DEPOSITS
775,108.12
ICMA-DEFERRED COMP DEPOSITS
593,838.92
TOTAL DEPOSITS 1,736,452.43
DEFERRED REVENUE
OTHER LIABILITIES TOTAL
COMPENSATED ABSENCES PAYABLE
DUE TO THE CITY OF LA QUINTA
NOTE DUE TO MURPHY, DALES, LANE
DUE TO COUNTY OF RIVERSIDE
DUE TO C.V. UNIFIED SCHOOL DISTRICT
DUE TO DESERT SANDS SCHOOL DISTRICT
BONDS PAYABLE
TOTAL LONG TERM DEBT
TOTAL LIABILITY 1,992,260.73
EQUITY -FUND BALANCE
17,449,106.38 15,981,208.00
350, 760.03 516,192.03
51,222.18
551, 038.04 561, 543.01
(68,798.79)
1,452.54
95,995.40
901, 798.07 1,157,606.37
107,046.26
112, 534.42
14, 031.00 14, 031.00
147,449.71
475.00
775,108.12
593,838.92
14,031.00 1,750,483.43
298,816.00
6,855,486.09
11,925,575.00
11, 797, 367.75
1,276,660.00
60,900,000.00
298,816.00 92,755,088.84
298,816.00 915,829.07 92,755,088.84
20,134,498.36 11,526, 745.05
298,816.00
6,855,486.09
11,925, 575.00
11,797,367.75
1,276,660.00
8, 030, 000.00 68, 930, 000.00
8,030,000.00 101,083,904.84
8, 030, 000.00 103, 991,994.64
711,190.01 65,802,747.80
TOTAL LIABILITY & EQUITY 19,441,367.11 15,981,208.00 298,816.00 21,050,327.43 11,526,745.05 92,755 088.84 711,190.01 8,030,000.00 169 794,742.44
8
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OF TNT
INVESTMENT ADVISORY BOARD
Meeting Date: December 11, 1996
TITLE:
Month End Cash Report - November 1996
BACKGROUND:
Correspondence & Written
Material Item A
This cash report is not a complete Treasury Report (exclude petty cash, deferred
compensation and fiscal agent balances, ) but would report in a timely fashion
selected cash balances.
RECOMMENDATION:
Information item only.
J hn M. Falconer, Finance Director
City of La Quinta
Month End Cash Report - See Footnote
November 27, 1996
Wells Fargo
Wells Fargo
Wells Fargo
City
RDA
Description
Checking
Housin
Money Market
LAIF
LAIF
Investments
Total
_
Beginning Balance-11/26/96
(122,213.30)
40,720.26
235,333.93
3,955,717.04
4,110,866.79
9,898,254.34
18,118,679.06
Deposits
Daily Deposit
14,576.55
14,576.55
Wire Transfer Fee Reimbursements
170.00
170.00
Transfers
100,000.00
(100,000.00)
0.00
Transfers
250,000.00
(250,000.00)
0.00
Disbursements
Checks - #27380 - 27398
(220,233.84)
(220,233.84)
Payroll Checks - #14977 - 14982
(3,960.91)
(3,960.91)
Payroll tax Transfer
(23,153.22)
(23,153.22)
Accounts Payable Checks - #27235 - 27379
743,521.10
743,521.10
Ending Balance per books
763,082.3
40,720.26
150,080.48
3,955,717.04
3,860,866.79
9,898,254.34
17,142,556.54
Add Back - Accts Pay Chks
743,521.10
743,521.10
Adjusted Balance
(19,561.27)
40,720.26
150,080.48
3,955,717.04
3,860,866.79
9,898,254.34
17,886,077.64
Estimated Interest Accruals
June
12,512.00
12,512.00
July
22,816.00
22,816.00
August
22,816.00
22,816.00
September
22,080.00
22,080.00
October
21,073.00
21,411.00
22,816.00
65,300.00
November
20,143.00
20,130.00
49,164.00
89,437.00
Adjusted Balances after accruals
19 561.2
40 720.26
1 150 080.48
1 3 996 933.04
3 902 407.79
10 050 458.34
18121 038.64
Investment Class 171,2 16.471 7,899,340.83 10 050,458.34 18,121,038.64
Percentages _ _ 0.94505 1 43.5921 %_ 55.4629% 100.00%
The following report is a special purpose report which has been prepared at the request of the Investment
Advisory Board. This report was created because the Finance Department cannot prepare the Treasurers
report for the month end before the 2nd Wednesday of each month (e.g. June report for the July meeting).
As a result, the IAB does not receive the Treasurers Report until approximately 1 1 /2 months after the date
of the report (e.g. June report for the August meeting).
The report is prepared on a monthly basis from the Daily Cash Report. The purpose of this report is for
staff to project daily cash needs and invest excess cash. This report does not include all investments of the
City, RDA and Financing Authority.
Specifically excluded from this report are the Petty Cash , Deferred Compensation, and Fiscal Agent
accounts. These accounts are included in the Treasurers Report.
In addition, the percentage numbers in this report are for information only. These percentages should not
be used to compare the maximum allowable percentages allowed in the investment policy because this
report does not include all investments and is not prepared from the reconciled book balances.
INVESTMENT ADVISORY BOARD
Meeting Date: December 11, 1996
TITLE:
Investment Liquidity and
Anticipated Revenues
BACKGROUND:
Correspondence & Written
Material Item B
At the November meeting, staff stated that they would report back at the
December meeting with a Cashflow format for the Treasurers Report. Attached
please find a draft Cashflow format. The report is basically a statement of cash
position for past activities from July 1, to date and an income statement for future
anticipated activity.
Staff will prepare this cashflow report with any modifications and attach to the
November Treasurers Report.
The Finance Department is working with the Public Works Department (Capital
Project) and Community Development (Economic Development) on forecasting their
cash needs. All other cash needs have been forecasted through year end.
RECOMMENDATION:
Review and comment on the Report format.
4 lLtltl�
ohn M. Falconer, Finance Director
cc: Public Works Director
Community Development Director
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INVESTMENT ADVISORY BOARD
Meeting Date: December 11, 1996
TITLE:
Reporting to the City Council - Status Update
BACKGROUND:
Correspondence & Written
Material Item C
On November 19, 1996 the City Council adopted a Handbook for Board Members
/Commissions: The Handbooks will be available to members in approximately two
weeks.
In the Staff report to the Council, the request by the Investment Advisory Board for
clarification on whether or not the minutes were sufficient communication was
addressed. The City Council determined that the minutes reflect sufficient
communication. In addition the Handbook will cover the type of minutes, majority
and minority reports, and dissenting votes.
RECOMMENDATION:
Receive and file.
inance Director