2001 02 20 FAU ~Y
4
5
OF
9ti
Financing Authority
Agenda
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
February 20, 2001
3:00 PM
CALL TO ORDER
Beginning Res. No. FA 2001-01
ROLL CALL: Board Members: Adolph, Henderson, Perkins, Sniff, Chairman Pena
PUBLIC COMMENT
At this time, members of the public may address the Finance Authority on any
matter not listed on the agenda or scheduled for public hearing. Please complete a
"request to speak" form and limit your comments to three minutes.
For all Public Hearings on the agenda, a completed "request to speak" form must be
filed with the City Clerk prior to the Council beginning consideration of that item.
Please watch the timing device on the podium.
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
1 . APPROVAL OF THE MINUTES OF JANUARY 16, 2000.
CONSENT CALENDAR
1. TRANSMITTAL OF TREASURER'S REPORT DATED DECEMBER 31, 2000.
2. TRANSMITTAL OF REVENUES AND EXPENDITURE REPORT DATED DECEMBER 31, 2000.
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 March 20,
2001, in the City Council Chambers, 78-495 Calle Tampico, CA 92253.
DECLARATION OF POSTING
I, June S. Greek, Secretary of the La Quinta Financing Authority, do hereby declare that the foregoing
agenda for the La Quinta Financing Authority meeting of February 20, 2001, 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, February 16, 2001.
Dated: February 16, 2001
��, _C05•
June S. 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.
Tit!t 44Q"
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: February 20, 2001 CONSENT CALENDAR:
ITEM TITLE:
Transmittal of Treasurer's Report
as of December 31, 2000
Receive and file.
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Treasurer's Report dated December 31, 2000 for the La Quinta
Financing Authority.
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.
Respectfully submitted:
John M. Falconer, Finance Director
Approved for submission by:
Thomas P. Genovese, City Manager
Attachment: Treasurer's Report, La Quinta Financing Authority
T4ht 4 4 Q"
MEMORANDUM
TO: La Quinta City Council
FROM: John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for December 31, 2000
DATE: February 5, 2001
Attached is the Treasurer's Report for the month ending December 31, 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
Beginning
Purchased
Sold/Matured
Other
Ending
Change
Cash (1)
$914,562
($1,176,689)
($262,127)
($1,176,689)
LAW
5,455,574
1,100,000
0
6,555,574
1,100,000
US Treasuries (2)
31,942,221
11,268
31,953,489
11,268 1
US Gov't Agencies (2)
17,614,309
147,336
17,761,645
147,336
Commercial Paper (2)
1,987,069
11,453
1,998,522
11,453
Mutual Funds 1
4,241,204
9,981
4,251,185
9,981
Total
$62 154 939
1 $1 109 981($1,176,689)$170
057
$62 258 288 1
$103 349
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.
2—- q
D to
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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CITY OF LA QUINTA
BALANCE SHEET 12/31M
ASSETS:
CITY CITY RDA IRDA FA
FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND
CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL
POOLED CASH (4,573,804.72)
9,810,032.25
(7,690,95)
5,228,536.58
LORP INVESTMENT IN POOLED CASH
805,000.00
INVESTMENT T-BILL/NOTES 3 OTHER 43,980,000.00
805.0D0.00
AUTO MALL CASH 2O5,106.79
f
43,980,000.00
LORP CASH
53,802.81
205,10679
BOND REDEMPTION CASH
103,801.87
1,404.32
81
153,80
02 19
BOND RESERVE CASH
BOND PROJECT CASH
11,536,188.75
609,790.54
12,145,979 29
BOND ESCROW CASH
PETTY CASH 1,0D0.00
CASH i INVESTMENT TOTAL 39,612,302.07
308,8
603.503. 11
1,00000
62,524,631 66
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
PREMIUM/DISCOUNT ON INVESTMENT
LORP-ACCOUNTS RECEIVABLE
INTEREST RECEIVABLE
LOAN/NOTES RECEIVABLE
DUE FROM OTHER AGENCIES
DUE FROM OTHER AGENCIES - CVAG
CVAG ALLOWANCE
DUE FROM OTHER GOVERNMENTS
DUE FROM OTHER FUNDS
DUE FROM RDA
INTEREST ADVANCE -DUE FROM RDA
ADVANCES TO OTHER FUNDS
NSF CHECKS RECEIVABLE
ACCRUED REVENUE
TRAVELADVANCES
EMPLOYEE ADVANCES
PREPAID EXPENSES (900.00) (900.00)
RECEIVABLE TOTAL 11,6W,951.09 3,360,419.77 8,009,210.20 22,956,581.06
76,563.52
60,900.00
(258,672.80)
(6,882.05)
75,465.18
2,678,474.20
651,913.19
(651,913.19)
899,449.40
551,629.04
8,497,550.20
2,368,549.86
2,961.91
833.40
1,449.D0
8,010,000.00
(789.80)
8,147,463.52
(266,344,65)
75,465.18
2.678.474.20
651,913.19
(651,913.19)
1.451.078 44
8,497,550,20
2,368,549 86
2,961.91
833.40
1,449.00
WORKER COMPENSATION DEPOSIT
37.637.00
37.637 00
RENT DEPOSITS
UTILITY DEPOSITS
75.00
7500
MISC. DEPOSITS
2.100.00
2,10000
DEPOSITS TOTAL
39,812.D0
39,812 00
'f
GENERAL FIXED ASSETS
1,386,331.67 15,590,699.00 9,988,279.05
26.965,309 72
ACCUMULATED DEPRECIATION
(812.743.27)
(812.743 27)
AMOUNT AVAILABLE TO RETIRE LIT DEBT
3,395,11T03
3,395.117 03
AMOUNT TO BE PROVIDED FOR L/T DEBT
1,645,647.34
95,G48.311.08
8,010,000 00 104,703 958 42
TOTAL OTHER ASSETS
573.588.40 15,590,699.00 1,645,647.34 9,988,279.05
98,443,428.11
8,010,DD0.00 134,251.641 90
TOTAL ASSETS
51.812.653.56 15,590 699 00 1 645,647.34 25,669,245.45 9,988,279.05
98,443,428.11
8 612 714 11 8,010,000.D0 219,772,66662
LIABILITIES:
ACCOUNTS PAYABLE
7,660.84
7,66084
DUE TO OTHER AGENCIES
145.028.16
145.028.16
DUE TO OTHER FUNDS
114.523.21 1,327,250.23
9,305.00 1,451,078,44
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
6,029.10
6,029.10
PAYROLL LIABILITIES
16,038.26
16,038.26
STRONG MOTION INSTRUMENTS
8,615.48
8,615.48
FRINGE TOED LIZARD FEES
29.661.50
29,661.50
SUSPENSE
4.228.32
4,228.32
DUE TO THE CITY OF LA GUINTA
PAYABLES TOTAL
331,784.87 1,327,250.23
9,305.D0 1,668,340.10
ENGINEERING TRUST DEPOSITS
SO. COAST AIR QUALITY DEPOSITS
ARTS IN PUBLIC PLACES DEPOSITS
385,790.86
385,790.86
LQRP DEPOSITS
15,434.00
15,/34.00
DEVELOPER DEPOSITS
1,012,273.20
1,012,273.20
MISC. DEPOSITS
448,298.41
448,298A1
AGENCY FUND DEPOSITS
1,332,543.31
1,332,543.31
TOTAL DEPOSITS
3,178,905.78
15,434.00
3,194.33978
DEFERRED REVENUE
8,270.67
8,010,000.00
8,018.270,67
OTHER LIABILITIES TOTAL
8,270.67
8,010,000.00
8,018,270.67
COMPENSATED ABSENCES PAYABLE
321,991.94
321,991,94
DUE TO THE CITY OF LA GUINTA
1,323,655.40
10,866,103.86
f
12,189,759.26
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
1,645,647.34
98,443,428.11
8,010,000.00
108,099,075.45
TOTAL LIABILITIES
3,518,961.32
1,645,647.34
1,342,684.23
98,443,428.11
8,019,305.00
8,010,000.00
120,980,026.00
EQUITY -FUND BALANCE
48,293,692.24 15,590,699.00
24,326,561.22
9,988,279.05
593,409.11
98,792,640.62
TOTAL LIABILITY i EQUITY
51 812.653.56 15.590.699.00
1,645 647.34
25,669,245.45
9,988,279.05 98,443,428.11
8 612 714 11
8,010,000.00
219,772,666,62
CASH i INVESTMENT TOTAL
S2,824,/31.81
PREMIUMID13COUNT ON INVESTMENT
121/.344./61
TOTAL
S2,28/,287.01
9
T4'yl 4 4 Q"
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: February 20, 2001 CONSENT CALENDAR: 0
ITEM TITLE: STUDY SESSION:
PUBLIC HEARING:
Transmittal of Revenue and Expenditure Report
December 31, 2000
Receive and File
Transmittal of the December 31, 2000 Statement of Revenue and Expenditures for the
La Quinta Financing Authority.
Respectfully submitted:
hn M. Falcone, Finance Director
Approved for Submission by:
Thomas P. Genovese
City Manager
Attachment: Revenue and Expenditures Report, December 31, 2000
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
REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
9,175.00
0.00
0.00
1,372.17
678,955.00
472,272.50
0.00
0.00
9,175.00
0.0%
(1,372.17)
0.0%
206,682.50
69.6%
0.00
0.0%
688,130.00
473,644.67
214,485.33
68.8%
0.00
0.11
(0.11)
0.0%
0.00
21,312.12
(21,312.12)
0.0%
0.00
21,312.23
(21,312.23)
0.0%
TOTAL FINANCING AUTHORITY 688,130.00 494,956.90 193,173.10 71.9%
LA QUINTA FINANCING AUTHORITY
07101/2000-12/31/2000
REMAINING
%
EXPENDITURE SUMMARY
BUDGET EXPENDITURES
ENCUMBERED
BUDGET
EXPENDED
DEBT SERVICE EXPENDITURES
SERVICES
9,175.00
6,882.50
0.00
2,292.50
75.0%
BOND PRINCIPAL
260,000.00
260,000.00
0.00
0.00
100.0%
BOND INTEREST
418,955.00
212,272.50
0.00
206,682.50
50.7%
TRANSFER OUT
0.00
0.00
0.00
0.00
0.0%
TOTAL DEBT SERVICE
688,130.00
479,155.00
0.00
208,975.00
69.6%
CAPITAL IMPROVEMENT EXPENDITURES
TRANSFER OUT
517,732.00
0.00
0.00
517,732.00
0.0%
TOTAL CAPITAL IMPROVEMENT
517.732.00
0.00
0.00
517,732.00
0.0%
TOTAL FINANCING AUTHORITY
1,205,862.00
479 155.00
0.00
726 707.00
39.74%