2000 08 15 FAv - 5
5
C� OF
�ti
La Quinta
Financing Authority
Agenda
CALL TO ORDER
a. Roll Call
Board Members:
PUBLIC COMMENT
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
$
NIFTITIMITIM
Beginning Res. No. FA 2000-03
Adolph, Henderson, Perkins, Sniff, Chairman Pena
Atthis time, members of the public may address the Finance Authority on any matter not
listed on the agenda or scheduled for public hearing. Please complete a "request to speak"
form and limit your comments to three minutes.
For all Public Hearings on the agenda, a completed "request to speak" form must be filed
with the City Clerk prior to the Council beginning consideration of that item.
Please watch the timing device on the podium.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1. APPROVAL OF THE MINUTES OF JULY 18, 2000.
CONSENT CALENDAR
1. TRANSMITTAL OF TREASURER'S REPORT DATED JUNE 30, 2000.
2. TRANSMITTAL OF REVENUES AND EXPENDITURE REPORT DATED JUNE 30, 2000, AND n f1
SUMMARY OF INVESTMENTS REPORT FOR THE QUARTER ENDING JUNE 30, 2000. 0 0
BUSINESS SESSION - None
DEPARTMENT REPORTS - None
CHAIR AND BOARD MEMBERS' ITEMS - None
PUBLIC HEARINGS - None
ADJOURNMENT - Adjourn to a Regular Meeting of the Financing Authority to be held on
September 19, 2000, in the City Council Chambers, 78-495 Calle Tampico, CA 92553.
DECLARATION OF POSTING
I, June S. Greek, Secretary of the La Quinta Financing Authority, do hereby declare that the foregoing
agenda for the La Quinta Financing Authority meeting of August 15, 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, August 11, 2000.
Dated: August 11, 2000
Jun . Greek, CIVIC
Secretary, La Quinta Financing Authority
PUBLIC NOTICE
The La Quinta City Council Chamber is handicapped accessible. If special equipment is needed
for the hearing impaired, please call the City Clerk's Office at 777-7025, 24-hours in advance
of the meeting and accommodations will be made.
Page 2 „-
T4ht °f 46Q"
COUNCIL/RDA MEETING DATE: August 15, 2000
ITEM TITLE:
Transmittal of Treasurer's Report
as of June 30, 2000
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC BEARING:
Transmittal of Treasurer's Report dated June 30, 2000 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.
RespectAully submitted:
ohn M. Falconer,
Director
Approved for submission by:
Thomas P. Genovese, City Manager
Attachment: Treasurer's Report, La Quinta Financing Authority
003
TO:
FROM:
MEMORANDUM
La Quinta City Council
John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for June 30, 2000
DATE: August 2, 2000
Attached is the Treasurer's Report for the month ending June 30, 2000. 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
Cash (1)
LAI F
US Treasuries (2)
US Gov't Agencies (2)
Commercial Paper (2)
;Mutual Funds
Total
inning f Purchased
Other
Change
$718,281
!
637,098
1,355,379
$637,098
$11,072,960
1,100,0010
700,000
11,472,960
400,000
$24,939,391
6,573,615
(88,502)
31,424,504
6,485,113
$19,903,725
6,159,798
7,000,000
47,249
19,110,772
(792,953)
$3,978,974
4,000,000
21,026
0
(3,978,974)
$4,081,636
49,305
4,032,331
(49,305)
_$64 694,967
1$13,833,413 '',
$12,366,176
$595,845
$67,395.946
$2,700.979
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.
John M. Falconer
Finance Director/Treasurer
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, Commercial Paper and Agency investments.
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E
CITY OF LA QUINTA
CITY
CITY
RDA RDA
FA
BALANCE SHEET 06130=
FIXED
LONG TERM
FIXED LONG TERM FINANCING
LONG TERM GRAND
CITY ASSETS
DEBT
RDA
ASSETS DEBT AUTHORITY
DEBT TOTAL
ASSETS:
POOLED CASH
(4,W9,132.05)
16,261,023.75
(905.14)
11.751.086 55
LORP INVESTMENT IN POOLED CASH
805,000.00
805.000,00
INVESTMENT T-BILLINOTES i OTHER
41,980,000.00
AUTO MALL CASH
2O0,714.59
41,980.000 00
LORP CASH
70.537.78
200,714.59
BOND REDEMPTION CASH
255.336.31
28.73
70.537 78
255,365.04
BOND RESERVE CASH
BOND PROJECT CASH
12,197,290.24
594.676.69
12.791.966.93
BOND ESCROW CASH
PETTY CASH
1,000.00
CASH& INVESTMENT TOTAL
37,872,582.53
29,589,188.08
593,900.28
1.000.00
-- -
87.855.670.89
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
319,624.00
60,900.00
8,260,000.00
8,640,524.00
PREMIUM/DISCOUNTON INVESTMENT
(391,327.91)
(61,407.87)
(6,988.07)
(459,723,85)
LORP-ACCOUNTS RECEIVABLE
59.451.36
INTEREST RECEIVABLE
572.633.92
59,451,36
LOAN/NOTES RECEIVABLE
16,2SS.21
2,678,631.60
572.633.52
2,694,899.81
DUE FROM OTHER AGENCIES
342,906.82
DUE FROM OTHER GOVERNMENTS
W1,430.19
342.906.82
DUE FROM OTHER FUNDS
1,3W,931.36
551,529.04
601.430.19
1.938.560.42
DUE FROM RDA
8,613,127.20
INTEREST ADVANCE -DUE FROM RDA
1,851,116.34
5,613,127.20
ADVANCES TO OTHER FUNDS
111,508.10
1,851,116,34
NSF CHECKS RECEIVABLE
3,154.11
111,508.10
ACCRUED REVENUE
833.40
3.154.11
TRAVEL ADVANCES
1,449.00
833.40
EMPLOYEE ADVANCES
1.449.00
PREPAID EXPENSES
65,323.00
332,087.50
397.410.50
RECEIVABLE TOTAL
13,494,144.25
3,622,125.03
8,253,011.93
_
25,369,281.22
WORKER COMPENSATION DEPOSIT
37.637.00
RENT DEPOSITS
37.63T00
UTILITY DEPOSITS
75.00
7500
MISC. DEPOSITS
2.360.00
2,350.00
DEPOSITS TOTAL
40,082.00
46,062.60
GENERAL FIXED ASSETS
1,386,331.87 15,693,354.00
10,238,506.05
27,316,191.72
ACCUMULATED DEPRECIATION
(695,581.27)
(685,681.27)
AMOUNT AVAILABLE TO RETIRE LIT DEBT
3.395.117.03
3,395,117.03
AMOUNT TO BE PROVIDED FOR L? DEBT
1,612,146.34
94,555,923.56
8,010,000.00 104,178,069.90
TOTAL OTHER ASSETS
700,750.40 15,693,354.00
1,612,146.34
10,236,508.05 97,951,040.59
8,010,000.00 134,203,797.38
TOTAL ASSETS
51,907,539 19 15,693,354,00
1,612,146.34 33,211,313.11
10,236,506.05 97,951,040.59 8 848 912 21
8 010 000.00 427 468.811.49
LIABILITY
ACCOUNTS PAYABLE
1,788,281.48
133,177.86
1,921,439.34
DUE TO OTHER AGENCIES
1,377,907.94
589,835.01
1,967,742.95
DUE TO OTHER FUNDS
602,005.19
1,327,250.23
9,305.00 1,938,560.42
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
351,119.18
351,119.18
PAYROLL LIABILITIES
5,044.58
5,044.58
STRONG MOTION INSTRUMENTS
(30.06)
(30.06)
FRINGE TOED LIZARD FEES
29.661.50
29,681.50
SUSPENSE
6,702.55
6,702.65
DUE TO THE CITY OF LA QUINTA
PAYABLES TOTAL
4,180,872.48
2,050,283.10
9.305.00 8,220,240.58
ENGINEERING TRUST DEPOSITS
SO. COAST AIR QUALITY DEPOSITS
ARTS IN PUBLIC PLACES DEPOSITS
468,085.22
468,085.22
LORP DEPOSITS
14,808.00
14 806 00
DEVELOPER DEPOSITS
1,057,653.88
1,057,653.88
MISC. DEPOSITS
408,481.61
408,481.01
AGENCY FUND DEPOSITS
1,804,787.35
1,804,757.35
TOTAL DEPOSITS
3,739,008.00
14,808.00
_ _ _
3,753,814.05
DEFERRED REVENUE
8,270.67
8,260,000.00 8,258,270.67
OTHER LIABILITIES TOTAL
8.270.67
__
8,260,000.00 8,266,270.67
COMPENSATED ABSENCES PAYABLE
321,991.94
321.991.94
DUE TO THE CITY OF LA QUINTA
1,290,154.40
10,373,716.34
11,053,870.74
DUE TO COUNTY OF RIVERSIDE
12,249,102.00
12.249.102.00
DUE TO C.V. UNIFIED SCHOOL DIST.
9,418,222.25
9,418,222.25
DUE TO DESERT SANDS SCHOOL DIST.
BONDS PAYABLE
65,910,000.00
8,010,000.00 73,920,000.00
TOTAL LONG TERM DEBT
1,612,146.34
97,951,040.59
8,010,000.00 107,573,186.93
TOTAL LIABILITY
7,907,951.19
1,812,146.34
2,065,069.10
97,951,040.59
8,269,305.00 8,010,000.00 125,815,512.22
EQUITY -FUND BALANCE
43,999,588.00 15,893,364.00
31,146,244.01 10,236,506.05
577,607.21 101,653,299.27
TOTAL LIABILITY i EQUITY
51 907 53919 15,893,354,00
1,612,146.34 33,211,313.11 10,236,506.05
97,951 040 59
8,846,912.21 8,010,000.00 227.40 811.49
CASH i INVESTMENT TOTAL
67,655,670.99
PREMIUMIDISCOUNT ON INVESTMENT
1459,723.651
TOTAL
67,395,947.04
o 11,
n
T4'it 4 4Q"
COUNCIL/RDA MEETING DATE: August 15, 2000
ITEM TITLE:
Transmittal of Revenue and Expenditure Report and
Investment Summary Report for the Quarter Ending
June 30, 2000
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the June 30, 2000 Statement of Revenue and Expenditures and
Investment Summary for the La Quinta Financing Authority.
Respgctfully submitted:
ohn M. Falofoner, Finance Director
Approved for Submission by:
Thomas P. Genovese
City Manager
Attachments:
1. Revenue and Expenditures and Investment Summary Report, June 30, 2000
01w
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
07/01/1999-6/30/2000
REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
5,600.00
0.00
5,600.00
0.00%
12,400.00
(566.03)
12,966.03
-4.56%
679,670.00
679,670.00
0.00
100.00%
0.00
8,332.58
(8,332.58)
N/A
697,670.00
687,436.55
10,233.45
98.53%
0.00 5.81 (5.81) N/A
0.00 14,765.41 (14,765.41) N/A
0.00 14,771.22 (14,771.22) N/A
TOTAL FINANCING AUTHORITY 697,670.00 702,207.77 (4,537.77) 100.65%
o1
3
LA QUINTA FINANCING AUTHORITY
EXPENDITURE SUMMARY
DEBT SERVICE EXPENDITURES
SERVICES
BOND PRINCIPAL
BONDINTEREST
TRANSFER OUT
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT EXPENDITURES
TRANSFER OUT
TOTAL CAPITAL IMPROVEMENT
07/01/1999 - 6/30/2000 REMAINING %
BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED
9,020.00
9,081.50
0.00
(61.50)
100.68%
250,000.00
250,000.00
0.00
0.00
100.00%
429,670.00
429,670.00
0.00
0.00
100.00%
0.00
0.00
0.00
0.00
N/A
688,690.00
688,751.50
0.00
(61.50)
100.01%
517,731.78 8,332.58 0.00 509,399.20 1.61%
517,731.78 8,332.58 0.00 509,399.20 1.61%
TOTAL FINANCING AUTHORITY 1,206,421.78 697,084.08 0.00 509,337.70 57.78%
01"t
0
City of La Quinta
Quarterly Investment Summary - Footnote 1
June 30, 2000
Financing Authority
Maturity
Issuer of Investment Investment T Date Per Value Market Value Amortized Cost
U.S. Bank Money Market Mutual Fund Next Day 86,694 86,694 86,694
U.S. Bank Treasury Bill 21-Se 515,000 508,062 508,012
Subtotal $601,694 $594,756 $594,706
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
(805)
$593,901
015-