2001 05 15 FAa4 �o�z • �tirlN�
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CFy OF
9w
Financing Authority
Agenda
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
May 15, 2001
3:00 PM
CALL TO ORDER
Beginning Res. No. FA 2001-01
ROLL CALL: Board Members: Adolph, Henderson, Perkins, Sniff, Chairman Pena
llrliR1W01WTihU_:G1YI
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 APRIL 17, 2001.
1. TRANSMITTAL OF TREASURER'S REPORT DATED MARCH 31, 2001.
2. TRANSMITTAL OF REVENUES AND EXPENDITURE REPORT DATED MARCH 31, 2001.
- None
DEPARTMENT REPORTS - None
1311 1.14 C9:14'e10 V n1m I
ADJOURNMENT -Adjourn to a Regular Meeting of the Financing Authority to be held on June 19,
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 May 15, 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, May 11,
2001.
DATED: May 11, 2001
I JUJUUNE S. GREEK, CIVIC
Secretary, La Quinta Financing Authority
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.
ceit!t 4 XP Qu&&
COUNCIL/RDA MEETING DATE:
May 15, 2001
Transmittal of Treasurer's Report
as of March 31, 2001
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Treasurer's Report dated March 31, 2001 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.
ictfully submitted:
t
lil
M. Falcon r, Finance Director
Approved for submission by:
Thomas P. Genovese, City Manager
Tit4t 4 4 Q"
MEMORANDUM
TO: La Quinta City Council
FROM: John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for March 31, 2001
DATE: April 25, 2001
Attached is the Treasurer's Report for the month ending March 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:
Cash
!LAIF
UST
US
Com
Mutu
Total
stment Beginning Purchased Notes Sold/Matured e9Other Ending Chan
—----_
$1,450,825 (1) ($613,424) $837,401 ($613,424)
$8,746,551 0 8,746,551 0
reasuries (2) $31.371,801 4,980,000 21,719 36,373,520 5,001,719
Gov't Agencies (2) i $17,870,769 5.000,000 (10,000,000) 10,586 12,881,355 (4,989,414)
mercial Paper (2) $4,948,666 3,000,000 (2,970,000) 7,553 4,986,219 37,553
al Funds $4,924,958 1 1,968,265 2,956,693 (1,968,265)
$69 313 570 $12 980 000 $15 551 689 $39 858 $66 781 739 S$2 531 831)_
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.
Falconer I
Director/Treasurer
Dat3
V-
(1) The amount reported 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.
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.
Falconer I
Director/Treasurer
Dat3
V-
(1) The amount reported 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 OUINTA
BALANCE SHEET BS01M1
ASSETS.
CITY CITY RDA RDA FA
FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND
CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL
POOLED CASH (3,625,321,031 12,186.125,46 (19, 24052) 8,537, 56491
LORP INVESTMENT IN POOLED GASH
80500O00
B05 000.00
INVESTMENT T-BILIYNOTES A OTHER
46,960,000.W
46, 9800000)
AUTO MALL CASH
205.ST5.25
205,835 25
LORD CI1PH
n 147 79
22 147 79
BOND REDEMPTION CASH
74, 751.97
1 423 21 16 1]5 18
BOND RESERVE CASH
BOND PROJECT CASH
9, 726,470.89
619 610 19 10.346 081 08
BOND ESCROW CASH
PETTY CASH
I.ODp.00
1 000 00
CASH{ INVESTMENT TOTAL 43.558,514-22 22,8134 11 601, 92.88 6697380421
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
41,62434
60,900,W
8010,(XDp 8,112.524 24
PREMIUMIOISCOUNT ON INVESTMENT
(192,1BL W)
103.84
1251 (192,06555)
LORP-ACCOUNTS RECEIVABLE
81060 71
81,060 71
INTEREST RECEIVABLE
76,442.31
7644231
LOANINOTES RECEIVABLE
2.6411,806,20
2, 681 SW 20
DUE FROM OTHER AGENCIES
15,= w
1500000
DUE FROM OTHER AGENCIES - CVAG
2.299,M 0
2299096 fig ,
CVAG ALLOWANCE
(2,299p96. 69)
12.299096 691
DUE FROM OTHER GOVERNMENTS
DUE FROM OTHER FUNDS
882, 189. SO
551 038.04
1 433.277 54
DUE FROM RDA
8.497,550. 20
8.497510 20
INTEREST ADVANCE -DUE FROM RDA
2.627,266.62
2 627.26E 62
ADVANCES TO OTHER FUNDS
NSF CHECKS RECEIVABLE
2,659.86
2,65986
ACCRUED REVENUE
83340
83340
TRAVEL ADVANCES
3.1p35p
3.10J 50
EMPLOYEE ADVANCES
PREPAID EXPENSES
RECEIVABLE TOTAL
11, 953.04. 33
3.375.742. 19
8010.012.51 23.339A0903
WORKER COMPENSATION DEPOSIT
RENT DEPOSITS
UTILITY DEPOSITS
75.M
75 00
MISC DEPOSITS
2,I00.00
210000
DEPOSITS TOTAL
2,175.W
---- -- 217500
GENERAL FIXED ASSETS
1,386,331.67
15.590.699.W
9,988,27905
2696530972
ACCUMULATED DEPRECIATION
(812.743.27)
(81274327)
AMOUNT AVAILABLE TO RETIRE L/T DEBT
3.395,117 03
3.395. 11703
AMOUNT TO BE PROVIDED FOR UT DEBT
1,645,64734
95.307.02784
104, 962.67518
TOTAL OTHER ASSETS
573, 588.40
159.00, 5W 6916<56Q.30
9.983_
,29905 6870 1144.ST
__ _____ _8.010,WDM
801000000 134510. 35866
TOTAL ASSETS
56087931.0
155W 69900 164564734
2618923930
998821905 9870214487
861150539 801000000 22482574690
LIABILITIES.
ACCOUNTS PAYABLE
7660.84
7 660 84
DUE TO OTHER AGENCIES
920.287.86
920,28786
DUE TO OTHER FUNDS
115,019.57
1, 318,207,97
1433.22754
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
6.029.10
6.029 10
PAYROLL LIABILITIES
45.670.57
4567057
STRONG MOTIONINSTRUMENTS
6.076.58
607658
FRINGE TOED LIZARD FEES
74,661. SO
74, 66150
SUSPENSE
4, W2.63
4 30263
DUE TO THE CITY OF LA OUINTA
PAYABLES TOTAL
1,179,]08.65
1.318,207.97
2497 91662
ENGINEERING TRUST DEPOSITS
SO COAST AIR QUALITY DEPOSITS
ARTS IN PUBLIC PLACES DEPOSITS
444,566.54
444,566 54
LORP DEPOSITS
15,303.00
15 303 00
DEVELOPER DEPOSITS
1.052,957,82
1,052,95782
MISC DEPOSITS
40,993.41
448.99341
AGENCY FUND DEPOSRS
1 658,259.46
_
1 658 259 46
TOTAL DEPOSITS
3.604,777 23
15303.00
362009023
DEFERRED REVENUE
$270.67
8010, 00000 8.018.27067
OTHER LIABILITIES TOTAL
8,270.67
_
-__--
B.O t0.00000 8.O18.27067
COMPENSATED ABSENCES PAYABLE
321991.94
321 991 94
DUE TO THE CRY OF LA QUINTA
1.323,655 40
11,124,820 62
12 448 476 02
DUE TO COUNTY OF RIVERSIDE
12,249. 102 W
12 249 10200
DUE TO C.V UNIFIED SCHOOL DIST.
9,418,222.25
9 418 222 2`,
DUE TO DESERT SANDS SCHOOL DIST
BONDS PAYABLE
65,910.GX)00
8.01000000 7392000000
TOTAL LONG TERM DEBT
1,645, U7U
98,702, 144.87
8, 01000000 108357 792 21
TOTAL LIABILITIES
4,792.756.55
164564734
1333.510.97
98. 702. 14487
8.010.(XXIM 801000000 122 494 059 73
EQUITY -FUND BALANCE
51.295, 17540
15, 5W 699.00
j4, 855, 728. 33
9.988,27905
60180539 102331E 68717
TOTAL LIABILITY& EQUITY
5608793195
1559069900 164564734 2618923930
998827905 9870214487-_
861180539_BOt000000 22462.574690
CASH & INVESTMENT TOTAL
68,979,8011,21
PREMIUMIDISCOUNT ON INVESTMENT
f192.O88.861
TOTAL
68,791,739.66
7
Twi�t 4 4 Q"
COUNCIL/RDA MEETING DATE:
May 15, 2001
Transmittal of Revenue and Expenditure Report
March 31, 2001
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR: C2.
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the March 31, 2001 Statement of Revenue and Expenditures for the La
Quinta Financing Authority.
M. Falcbner/Finance Director
Approved for Submission by:
Thomas P. Genovese
City Manager
Attachments:
1. Revenue and Expenditures Report, March 31, 2001
LA QUINTA FINANCING AUTHORITY
REVENUE DETAIL
DEBT SERVICE REVENUE:
Contractual Services Fees
Non Allocated Interest
Rental Income
Transferin
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
5.35
9,169.65
0.1%
0.00
1,391.06
(1,391.06)
0.0%
678,955.00
678,955.00
0.00
100.0%
0.00
0.00
0.00
0.0%
688,130.00
680,351.41
7,778.59
98.9%
0.00 0.11 (0.11) 0.0%
0.00 31,934.08 (31,934.08) 0.0%
0.00 31.934.19 (31.934.191 0.0%
688 130.00 712 285.60 (24 155.60) 103.5%
001
LA QUINTA FINANCING AUTHORITY
0710112000 •3/31/2001
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
418,955.00
0,00
0.00
100.0%
TRANSFER OUT
0.00
0.00
0.00
0.00
0.0%
TOTAL DEBT SERVICE
688,130.00
688,087.50
0.00
42.50
100.0%
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 120586178 688087.50 0.00 517774,28 57.06%
002