2000 01 18 FApp/
F OZ
U S
FC�� OF
La Quinta
Financing Authority
Agenda
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
January 18, 2000
2:00 PM
CALL TO ORDER
Beginning Res. No. FA 2000-01
a. Roll Call
Board Members: Adolph, Henderson, Perkins, Sniff, Chairman Pena
PUBLIC COMMENT
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
a. Approval of Minutes of December 21, 1999
CONSENT CALENDAR
1. APPROVAL OF TREASURERS REPORT DATED NOVEMBER 30, 1999.
BUSINESS SESSION - None
DEPARTMENT REPORTS
A. FINANCE DIRECTOR
1. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED
NOVEMBER 30, 1999, AND INVESTMENT SUMMARY FOR THE QUARTER
ENDING DECEMBER 31, 1999.
CHAIR AND BOARD MEMBERS' ITEMS - None
PUBLIC HEARINGS - None
ADJOURNMENT
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 January 18, 2000, was posted
on the outside entry to the Council Chamber, 78-495 Calle Tampico and on the bulletin board at
the La Quinta Chamber of Commerce on Friday, January 14, 2000.
Dated: January 14, 2000
June S. Greek, CMC/AAE
Secretary, La Quinta Financing Authority
Page 2
c&t!t 4 4 Q"
January 18, 2000
COUNCIL/RDA MEETING DATE:
Transmittal of Treasurer's Report
as of November 30, 1999
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: /
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Treasurer's Report dated November 30, 1999 for the La Quinta
Financing Authority.
FINDINGS AND ALTERNATIVES:
I certify that this report accurately reflects all pooled investments and is in
compliance with California Government Code Section 53645 as amended 1 /1 /86;
and is in conformity with City Code 3.08.010 to 3.08.070 Investment of Money
and Funds.
I hereby certify that sufficient investment liquidity and anticipated revenues are
available to meet next month's estimated expenditures.
Respectf Ily submitted:
4
Jo n M. Falconer, 511nance Director
Approved for submission by:
Thomas P. Genovese, City Manager
Attachment: Treasurer's Report, La Quinta Financing Authority
MEMORANDUM
TO: La Quinta City Council
FROM: John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for November 30, 1999
DATE: January 4, 2000
Attached is the Treasurer's Report for the month ending November 30, 1999. 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
Sold/Matured
Other
Ending
Cash (1)
$1,141,418
0
($544,839)
596,579
LAIF
11,189,999
0
300,000
10,889,999
US Treasuries (2)
14,052,692
11,030,324
7,000,000
(15,037)
18,067,979
US Gov't Agencies (2)
17,628,448
0
0
42,138
17,670,586
(Commercial Paper
0
0
0
0
(Mutual Funds
9,020,698
0
3,896,469 _
_-_$11,196,469
{ 517,738)
5,124,229
$52,349,372
!Total
$53L033 255_
_ 1,030,324
Change_
($544,839)
(300,000)
4,015,287
42,138
0
(3,896,469)
($683,883)
I certify that this report accurately reflects all pooled investments and is in compliance with the California
Government Code; and ins in conformity with the City Investment Policy.
As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated
revenues are available to meet the pools expenditure requirements for the next six months. the City of
La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and the Bank of New York
Monthly Custodian Report to determine the fair market value of investments at month end.
Footnote
(1) The amount reported in the other column 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 and Agency investments.
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-CITY OF LA QUINTA
CITY
CITY
RDA RDA FA
BALANCE SHEET 11/30199
FIXED
LONG TERM
FIXED LONG TERM FINANCING LONG TERM
GRAND
CITY ASSETS
DEBT
RDA
ASSETS DEBT AUTHORITY DEBT
TOTAL
ASSETS:
POOLED CASH
3,888,088.28
6,070.262,13
(994.24)
9,937,358.17
LQRP INVESTMENT IN POOLED CASH
705.000.00
705,000 00
INVESTMENT T-BILLINOTES 8. OTHER 26,000,000.00
26,000,000.00
AUTO MALL CASH
781,556.49
781.556,49
LORP CASH
61,665.48
61.665.48
BOND REDEMPTION CASH
396,111.90
28.73
396.140.63
BOND RESERVE CASH
BOND PROJECT CASH
14,088,644.14
590,543.79
14,679,087.93
BOND ESCROW CASH
PETTY CASH
1.000.00
J
1,000.00
CASH i INVESTMENT TOTAL 30,650,844.77
21,321,583.85
589,578.28
52.561.806 70
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
47,164.46
60,900.00
8,260.000,00
8.368,054A6
PREMIUMIDISCOUNT ON INVESTMENT
(254.217.20)
41,783.03
(212.434.25)
LQRP-ACCOUNTS RECEIVABLE
48,760.58
48,760.68
INTEREST RECEIVABLE
1,373.63
1,373.63
LOAN/NOTES RECEIVABLE
25,841.74
2,868,850.80
2.894.692.54
DUE FROM OTHER AGENCIES
127,984.00
127,994.00
DUE FROM OTHER GOVERNMENTS
DUE FROM OTHER FUNDS
785.357.14
741,656.90
1,527,014.04
DUE FROM RDA
6,890,277.20
6,690.277 20
INTEREST ADVANCE -DUE FROM RDA
1,384,175.34
1,384,175.34
ADVANCES TO OTHER FUNDS
434.961.70
434,951.70
NSF CHECKS RECEIVABLE
1,988.86
1."5.86
ACCRUED REVENUE
833.40
833.40
TRAVEL ADVANCES
1,860.00
1,860.00
EMPLOYEE ADVANCES
PREPAID EXPENSES
,_000.00
60.300.00
RECEIVABLE TOTAL
9.507.024.79
3.562.784.81
8.260.000.00
21,329.809,60
WORKER COMPENSATION DEPOSIT
37.637.00
37,637.00
RENT DEPOSITS
UTILITY DEPOSITS
75.00
75.00
MISC. DEPOSITS
2,100.00
--------�--__-
2,100.00
DEPOSITS TOTAL
39.812.00
---„---
39,812,00
GENERAL FIXED ASSETS
1.289.594.28 15,148,522.00
10,233,506.05
26,669,722.33
ACCUMULATED DEPRECIATION
(585,360.27)
(585.360.27)
AMOUNT AVAILABLE TO RETIRE L/T DEBT
3,395,117.03
3,395,117.03
AMOUNT TO BE PROVIDED FOR UT DEBT
1_677,4g2.02
_94.828�721.08 8.260,000,00
104,766.203_08
TOTAL OTHER ASSETS
704,334.01 15.146.522.00
_
1,677,482.02
_
10,233,506.05 98.223.838.09 8,260,000.00
134.245A82.17
TOTAL ASSETS 40.901 81 ._U . ljA§ 522.00__ 1 §77 482.02 24 8§4W46 10.233 00,Q6 _ 9§2a3.83Q09 _L"94-9_,578;__ 8,2600 990 00 208,117,119 47
LIABILITY
ACCOUNTS PAYABLE
7,850.84 11,999.44
DUE TO OTHER AGENCIES
522.190.29
DUE TO OTHER FUNDS
575.00 1,517,134.04
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
PAYROLL LIABILITIES
01.701.81
STRONG MOTION INSTRUMENTS
4,651.65
FRINGE TOED LIZARD FEES
21.740.00
SUSPENSE
129.128.81
DUE TO THE CITY OF LA QUINTA
PAYABLES TOTAL
747,848.40 11.999.44 1.517.134.04
ENGINEERING TRUST DEPOSITS
198.00
SO. COAST AIR QUALITY DEPOSITS
ARTS IN PUBLIC PLACES DEPOSITS
423,107.00
LQRP DEPOSITS
DEVELOPER DEPOSITS
1,130,464.59
MISC. DEPOSITS
329,760.95
AGENCY FUND DEPOSITS
TOTAL DEPOSITS
2,684,198.65
DEFERRED REVENUE
8,270.67__,—_`_____-__
• OTHER LIABILITIES TOTAL
8,270.87
COMPENSATED ABSENCES PAYABLE
337,880.86
DUE TO THE CITY OF LA OUINTA
1,327,601.72
DUE TO COUNTY OF RIVERSIDE
DUE TO C.V. UNIFIED SCHOOL DIST.
DUE TO DESERT SANDS SCHOOL DIST.
BONDS PAYABLE
TOTAL LONG TERM DEBT 1,885,482.58
TOTAL LIABILITY
EQUITY -FUND BALANCE
3.440.117.72
37.481, 697.85 15,148, 522.00
15,364.00
15,364.00
1,577,482.02 1,532,498.04
19.660.28
522.190.29
9,305.00 1, 527.014.04
61,701,81
4.651.65
21,740.00
129.128.81
---- -- 9.305.00 - — 2.286.088.88
198.00
423,107.00
15,364.00
1,130,464.69
329,760.95
--- 800.688.11
2.699.562.65
8.260.000.00
8.268.270.67
8,280,000.00
8,288,270.67
337,850.56
8,274,452.34
9,602,054.06
12,486,237.00
12,466,237.00
10,008,145.75
10,068,146.75
87_a415,000_00_.
_ __,(504.08)8.260.00000
75;674,495.92
____
98,223,838.09
(504.08) 8.260.000 00
108,148,816.59
98,223,838.09 8,268,8W.92 8,260,000 D0 121.402.736 79
23,351,870.42 10,233,505.05 580,777.36 86.774.373.68
TOTAL LIABILITY i EQUITY 40 901 615 57 15,146,522,00 _ 1.877.482.02 24.884,3,A 10 233.508 05 98.223.8_M _�Q,§`L8 _ B 260 OOO.uU 20$,177,110,47-
- (0.00) (0.00) (0.00) — - —
CASH i INVESTMENTITOTAL 52,561,806.70
PREMIUMIDISCOUNT ON INVESTMENT (21 "-=
TOTAL 52,349,372.,N
DEPARTMENT REPORT:
Tity/
"
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: January 18, 2000 CONSENT CALENDAR:
STUDY SESSION:
Transmittal of Revenue and Expenditure
PUBLIC HEARING:
Reports dated November 30, 1999 and
Investment Summary for the Quarter
ending December 31, 1999
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
Transmittal of the November 30, 1999 Statement of Revenue and Expenditures for
the La Quinta Financing Authority.
I certify that the Quarterly Investment Summary 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 Dept, U.S. Bank Monthly Statement and Bank of New York Monthly
Custodian Report to determine the fair market value of investments at month end.
Respectfully subm
hn M. Falcoher, Finance Director
Approved for Submission by:
rz �e
Thomas P. Genovese
City Manager
Attachments:
1 . Revenue and Expenditures Report, November 30, 1999
2. Quarterly Investment Summary, December 31, 1999
00
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
TOTAL FINANCING AUTHORITY
07/01/1999-11/30/1999
REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
5,600.00
0.00
5,600.00
0.00%
12,400.00
0.00
12,400.00
0.00%
679,670.00
467,397.50
212,272.50
68.77%
0.00
0.00
0.00
N/A
697,670.00
467,397.50
230,272.50
66.99%
0.00 5.84 (5.84) N/A
0.00 9,288.00 (9,288.00) N/A
0.00 9,293.84 (9,293.84) N/A
697,670.00 476,691.34 220,978.66 68.33%
00.1
LA QUINTA FINANCING AUTHORITY
EXPENDITURE SUMMARY
DEBT SERVICE EXPENDITURES
SERVICES
BOND PRINCIPAL
BONDINTEREST
TRANSFER OUT
07/01/1999-11/30/1999 REMAINING %
BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED
9,020.00
1,000.00
250,000.00
250,000.00
429,670.00
217,397.50
0.00
0.00
0.00
8,020.00
11.09%
0.00
0.00
100.00%
0.00
212,272.50
50.60%
0.00
0.00
N/A
TOTAL DEBT SERVICE 688,690.00 468,397.50 0.00 220,292.50 68.01%
CAPITAL IMPROVEMENT EXPENDITURES
TRANSFER OUT 517,731.78 0.00 0.00 517,731.78 0.00%
TOTAL CAPITAL IMPROVEMENT 517,731.78 0.00 0.00 517,731.78 0.00%
TOTAL FINANCING AUTHORITY 1,206,421.78 468,397.50 0.00 73s,UL4.2s W.tW/o
005
City of La Quinta
Quarterly Investment Summary - Footnote 1
December31, 1999
Financing Authority
Maturity
Issuer of Investment Investment T Date Par Value Market Value Amortized Cost
U.S. Bank Money Market Mutual Fund Next Da 592,864 592,864 592,864
Subtotal $592,864 $592,864 $592,864
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
(7,477)
$585 387
0000