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2001 03 20 FALa �U �Q•C E`y OF T1�F'9 Financing Authority Agenda City Council Chamber 78-495 Calle Tampico La Quinta, California 92253 March 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 APPROVAL OF THE MINUTES OF FEBRUARY 20, 2001. CONSENT CALENDAR 1. TRANSMITTAL OF TREASURER'S REPORT DATED JANUARY 31, 2001. 2. TRANSMITTAL OF REVENUES AND EXPENDITURE REPORT DATED JANUARY 31, 2001. BUSINESS SESSION - None DEPARTMENT REPORTS - None 001 CHAIR AND BOARD MEMBERS' ITEMS - None PUBLIC HEARINGS - None ADJOURNMENT -Adjourn to a Regular Meeting of the Financing Authority to be held on April 17, 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 March 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 and at Stater Bros., 78-630 Highway 111, on Friday, March 16, 2001. DATED: March 16, 2001 JUNE S. GREEK, CMC 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. 002 c&t,, 4 4 Q" COUNCIL/RDA MEETING DATE: March 20, 2001 ITEM TITLE: Transmittal of Treasurer's Report as of January 31, 2001 Receive and file. AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Transmittal of Treasurer's Report dated January 31, 2001 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. Ily submitted: hn M. Falcon,6r. Finance Director Approved for submission by: Thomas P. Genovese, City Manager Attachment: Treasurer's Report, La Quinta Financing Authority LI , T a City Council cei',, 4 4Qwr4v MEMORANDUM FROM: John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for January 31, 2001 DATE: March 5, 2001 Attached is the Treasurer's Report for the month ending January 31, 2001. 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) 'LAIF ($262,127) $10,980,548 $10,718,421 $10,980,548 US Treasuries (2) $6,555,574 $31,953,489 7,411,000 (2,809,023) i (8,000,000) 0 4,439 3,746,551 31,368,928 (2,809,023) (584,561) US Gov't Agencies (2) $17,761,645 57,336 17,818,981 57,336 Commercial Paper (2) $1,998,522 5,000,000 (2,000,000) (13,744) 4,984,778 2,986,256 Mutual Funds (1) $4,251,185 1 3,067,025 (1,184,160)al ,, $86 33 447onaoTot 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. 4hnlconer ( Finance Director/Treasurer ✓Footnote ate (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. 004 E E L O d d N ryE C O � 2 O a H p v a Q U J Q 3 LL V v g VI O N � E ¢ > _ v >x O r a J gc v W LL W 3 m g Z n � — >O F Z J U W N w K J 2 f U u E L d Q 1- d Q SC�CI 10 O ICI Oi O O ii0 O COI .Z, iZ, 'Z. Z iZ 'iZ Z Z'. 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CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL POOLED CASH (4388,651. 13) 17 790.760 41 (994095 ) LORP INVESTMENT IN POOLED CASH T-gILIJNOTE5 8 OTHER 46, 805,000.00 ti 33] 166 33 8:: 30_ x ALTOINVESTMENT AUTO MALL CASH 205 I 79 2O5,106 ]9 46 98; 30i a LORP CASH 900 205'3o'1 _2 BOND REDEMPTION CASH 115 866 T1 48^ 9� BOND RESERVE CASH 1 4 t t 34 BOND PROJECT CASH 9.]63,87918 BOND ESCROW CASH 61860t 59 tCire:431'- PETTY CASH 1 000 00 CASH & INVESTMENT TOTAL 42,]97 455 66 28536,49529 - QX 0, 6t0.0]t 98 y19a4 OZL 9- INVESTMENT IN LAND HELD FOR RESALE ACCOUNTS RECEIVABLE 75.14016 60,90000 PREMIUM/DISCOUNT ON INVESTMENT (2393]].22) 8010000Do 814004C6 LORP-ACCOUNTS RECEIVABLE 38 S 1239 338 INTEREST RECEIVABLE ]8 Su 48 78544 48 LOAWNOTES RECEIVABLE 2.652.]36 49 DUE FROM OTHER AGENCIES 2 65; 736 49 DUE FROM OTHER AGENCIES -CVAG 651,913.19 CVAG ALLOWANCE (Ni 91319) 65191319 DUE FROM OTHER GOVERNMENTS 165- 913 191 DUE FROM OTHER FUNDS 899, 44940 551 629 04 DUE FROM RDA 8, 497 550 20 1451 078 44 INTEREST ADVANCE -DUE FROM RDA 2.454 788 78 8 49" 55,120 ADVANCES TO OTHER FUNDS - - 2 454 268 78 NSF CHECKS RECEIVABLE 9431 91 ACCRUED REVENUE 943191 TRAVEL ADVANCES 1449W 83340 8334C EMPLOYEE ADVANCES 1 449 W PREPAID EXPENSES RECEIVABLE TOTAL 11,698,132.23 3, 344,64341 - 8,01D038.51 23 053 114 15 WORKER COMPENSATION DEPOSIT 37 63].00 RENT DEPOSITS 37 637 DO UTILITY DEPOSITS 75 00 MISC DEPOSITS 21WW 75W DEPOSITS TOTAL 3981200 --- ----- ---- - 100 00 39BR00 GENERAL FIXED ASSETS 1386, 33167 15590, 69900 9.988.27905 ACCUMULATED DEPRECIATION (81274327) 26.965305 ]2 AMOUNT AVAILABLE TO RETIRE L/T DEBT (812 743 2]) AMOUNT TO BE PROVIDED FOR L/T DEBT 3.395 11703 3 395 11 ] 03 TOTAL OTHER ASSETS 5]3,588 d0 15, 590,699.00 1 645 Bd] 34 1,64E6Q.34 95 134 550.00 _ 8.010 000 00 _ 104 7% 197 34 9, 988,2]905 98.52966]03 8, 010, OX)00 134. 357 880 82 TOTAL ASSETS 55109288.29 15590699.00 1645 EAT 34 31 881 138 70 998827905 9852966703 862011049 801000000 2293]482990 LIABILITIES. ACCOUNTS PAYABLE ],66084 DUE TO OTHER AGENCIES 87271850 766C 84 DUE TO OTHER FUNDS 114.52321 t3P25023 872 71: 50 INTEREST ADVANCE -DUE TO CITY 930500 T451.0]44 ACCRUED EXPENSES 6,02910 PAYROLL LIABILITIES 3,48746 6.029 10 STRONG MOTION INSTRUMENTS 3, 809.91 348746 FRINGE TOED LIZARD FEES 29,651 50 3.809 91 SUSPENSE 826049 2 Sal 50 DUE TO THE CITY OF IA QUINTA 826049 PAYABLES TOTAL 1,046, 151.01 - 1,321250.2' 9305.00 2,382. 70624 ENGINEERING TRUST DEPOSITS SO COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 40].284 23 LORP407 DEPOSITS 284 23 DEVELOPER DEVELOPOSITS SITS t063, 1543400 15 434 00 MISO DEPOSITS 448, M341 /44866341 AGENCY FUND DEPOSITS 1, 875 12995 ddB 663 4t TOTAL DEPOSITS 794.195 78 379d.195 ]8 1, 875 129 95 t543o 00 - - _ — _ - --_ - - - - 3,909 629 78 DEFERRED REVENUE 8,27067 OTHER LIABILITIES TOTAL 8,2]0.6] _ 8, 010, 00000 _ 8.018270 fi] 8,010.00000 8.018,2]06] COMPENSATED ABSENCES PAYABLE DUE TO THE CITY OF LA QUINTA DUE TO COUNTY OF RIVERSIDE DUE TO C.V. UNIFIED SCHOOL DIST DUE TO DESERT SANDS SCHOOL DIST. BONDS PAYABLE TOTAL LONG TERM DE TOTAL LIABILITIES EQUITY -FUND BALANCE TOTAL LIABILITY & EQUITY CASH & INVESTMENT TOTAL PREMIUMIDISCOUNT ON INVESTMENT TOTAL 321,991.94 1 323,655 40 4,848, 617 46 1645,64734 1, 342,684. 23 50, 2W 670.83 15.590,699. DO 30, 538,4644T 9,988,279.05 10,952,342 78 12.249, 10200 9,418,222.25 321 991 94 12275 998 18 12.249, 102 00 941822225 65 910.000 00 _ _ 8 010 000 00 73 920,000 00 98.529,66703 8,01000000 108. 185. 31437 98, 529. 66703 8019,305.00 8,010,000.00 122 395 921015 600,805 49 IN 918.90E 84 55 109 288 29 15 590 699 W 1 645 641 3a 31 881 138 70 9 988 2]9 05 98.529 66] 03 8 620 110 49 8 010 000 00 229 371 829 % 71,944,022.63 000 (239,338,71) 71,704,684.22 O11 C s� OF THY' AGENDA CATEGORY: COUNCIL/RDA MEETING DATE: March 20, 2001 ITEM TITLE: Transmittal of Revenue and Expenditure Report January 31, 2001 Receive and File 1-1-a"mciasill• • • ► BUSINESS SESSION: CONSENT CALENDAR: 1�1- STUDY SESSION: PUBLIC HEARING: Transmittal of the January 31, 2001 Statement of Revenue and Expenditures for the La Quinta Financing Authority. )Ily subm Falconer, ce Director Approved for Submission by: Thomas P. Genovese City Manager Attachments: 1. Revenue and Expenditures Report, January 31, 2001 012 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 REMAINING % BUDGET RECEIVED BUDGET RECEIVED 9,175.00 0,00 9,175.00 0.0% 0.00 1,379.19 (1,379.19) 0.0% 678,955.00 472,272.50 206,682.50 69.6% 0.00 0,00 0.00 0.0% 688,130.00 473,651.69 214,478.31 68.8% 0.00 0.11 (0.11) 0.0% 0.00 30,951.48 (30,951.48) 0.0%_ 0.00 30,951.59 (30,951.59) 0.0% 688J30.00 504 603.28 183 526.72 73.3% 013 l LA QUINTA FINANCING AUTHORITY 07101/2000.113112001 REMAINING % EXPENDITURE SUMMARY BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED DEBT SERVICE EXPENDITURES SERVICES 9, 175.00 9, 132.50 0.00 42.50 99.5% 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 688,130.00 481,405,00 _ 0,00 206,725.00 70.0% CAPITAL IMPROVEMENT EXPENDITURES TRANSFER OUT _ 517,731.78 0.00 0.00 517,731,78 0.0% TOTAL CAPITAL IMPROVEMENT 517,731.78 0.00 0.00 _ 517,731.78 0.0% TOTAL FINANCING AUTHORITY 1205861.78 481,405CKO 0.00 724456.78 39.92% 014 ,,