2002 02 19 FA� T
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Financing Authority
Agenda
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
Tuesday, February 19, 2002
3:00 PM
CALL TO ORDER
Beginning Res. No. FA 2002-01
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. MINUTES OF THE MEETING OF JANUARY 15, 2002
CONSENT CALENDAR
1. TRANSMITTAL OF TREASURER'S REPORT DATED DECEMBER 31, 2001.
2. TRANSMITTAL OF REVENUE AND EXPENDITURE REPORT DATED DECEMBER 31,
2001. f
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 5,
2002, 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 19, 2002, 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 Tuesday
February 15, 2002.
DATED: February 15, 2002
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.
Finance Authority Agenda Page 2 February 19, 2002
AGENDA CATEGORY:
February 19, 2002 BUSINESS SESSION:
COUNCIL/RDA MEETING DATE:
CONSENT CALENDAR:
ITEM TITLE:
STUDY SESSION:
Transmittal of Treasurer's Report
PUBLIC HEARING:
as of December 31, 2001
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
Transmittal of Treasurer's Report dated December 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.
hereby certify that sufficient investment liquidity and anticipated revenues are
available to meet next month's estimated expenditures.
Wespeully submitted,
hn M. Fal�onhr, Finance Director
Approved for submission by:
Thomas P. Genovese, City Manager
Attachment: Treasurer's Report, La Quinta Financing Authority
003
TA t 4 0
.4 Qum&
MEMORANDUM
TO: La Quinta City Council
FROM: John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for December 31, 2001
DATE: January 30, 2002
Attached is the Treasurer's Report -for the month ending December 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
Notes
Sold/Matured
Other
Ending
Change
Cash
$422,375
$410,959
(1)
$833,334
$410,959
LAW
$17,693,521
(1,400,000)
16,293,521
(1,400,000)
US Treasuries (2)
$56,312,357
(110,805)
56,201,552
(110,805)
US Gov't Agencies (2)
$15,927,272
3,053,190
(5,956,682)
(25,314)
12,998,466
(2,928,806)
Commercial Paper (2)
$1,995,693
2,994,674
7,743
4,998,110
3,002,417
Mutual Funds
$9,107,570
108,473
1
9,216,043
108,473
Total
A101,458,788
1 $6 567 296
7 356 682
$128 376
$100 541 026
$917 762
I certify that this report 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 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.
-3� 0
Dat
Footnote
(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 QUINTA
BALANCE SHEET 12/31/01
ASSETS:
POOLED CASH
LQRP INVESTMENT IN POOLED CASH
INVESTMENT T-BILUNOTES & OTHER
AUTO MALL CASH
LQRP CASH
BOND REDEMPTION CASH
BOND RESERVE CASH
BOND PROJECT CASH
BOND ESCROW CASH
PETTY CASH
CASH & INVESTMENT TOTAL
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
PREMIUMIDISCOUNT ON INVESTMENT
LQRP-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
FIXED ASSETS
ACCUMULATED DEPRECIATION
TRAVELADVANCES
EMPLOYEE ADVANCES
PREPAID EXPENSES
RECEIVABLE TOTAL
WORKER COMPENSATION DEPOSIT
RENT DEPOSITS
CITY
CITY RDA
RDA FA
FIXED
LONG TERM FIXED
LONG TERM FINANCING LONG TERM
GRAND
CITY
ASSETS
DEBT RDA ASSETS
DEBT AUTHORITY DEBT
TOTAL
6,178,212.92
10.024,852,82
98,200 72
16,3C1.266 4^
785,000.00
785,000 0,
37.980,000 00
37.980 000 0�
39.588 72
39.588 7:
205,309.22
1.926.55
207.235 --
44,411,408.38
549.535,59
44,960 943 9-
1,000.00
1 000 0,
44,159,212.92
55,466,159.14
649,662.86
100,275,034 9:
39,499.74
60,900 00
100,399 74
11,554.33
254.437.00
265,991 3;1
41,461.30
41,461 3C
28,125.00
565,607 73
593.732 73
13,489,603.69
13,489.603 &-
259,634.01
259,634 01
2,299,096.69
2,299.096 69
(2,299,096.69)
(2,299,096 69
0.37
0.37
1,040,973.94
651,038.04
1,692,011 98
8,497,550.20
8,497,550 20
3,455,159.88
3.455,159 88
56.483 22
56.483 22'
3,522.26
3,52226
83340
833 4C
20,711,742.00
20.711.742 00
711, 534 48
711, 534 48
2,294.00
2.29400
14,106,331.43 20,711,742.00 15,063,881.16 49,881.954 59
UTILITY DEPOSITS
75.00
75 00
MISC. DEPOSITS
2,100.00
2.10000
DEPOSITS TOTAL
2,175.00
2,17500
GENERAL FIXED ASSETS
9,988,279.05
9.988,279 05
ACCUMULATED DEPRECIATION
AMOUNT AVAILABLE TO RETIRE LIT DEBT
3,395.117,03
3,395,117 03
AMOUNT TO BE PROVIDED FOR LIT DEBT
951,847.65 80,866,860.97
7,750,000.00 89,568.708 62
TOTAL OTHER ASSETS
951,847.65 9,988,279.05 84,261,978.00
7,750,000.00 102,952,104.70
TOTAL ASSETS
58,267,719.35
20,711,742.00 951,847.65 70,530,040.30 9,988,279.05 84,261,978 00
649,662 86 7,750,000,00 253,111,269 21
LIABILITIES:
ACCOUNTS PAYABLE
13,741.33
13.741 33
DUE TO OTHER AGENCIES
641,659.19
730,884.56
1.372,543,75
DUE TO OTHER FUNDS
273,804.01
1,987,384 47
2,261.188 48
INTEREST ADVANCE -DUE TO CITY
11,383,537.00
11.383,537 00
ACCRUED EXPENSES
16,468.50
16,468 50
PAYROLL LIABILITIES
5,065.41
5,06541
STRONG MOTION INSTRUMENTS
5,005.44
5.00544
FRINGE TOED LIZARD FEES
78,981.50
78.981 50
SUSPENSE
1,101.79
1,10179
DUE TO THE CITY OF LA QUINTA
PAYABLES TOTAL
1,019,358.67
14,118,274.53
15,137,633 20
ENGINEERING TRUST DEPOSITS
SO. COAST AIR QUALITY DEPOSITS
LORP DEPOSITS
14,499.00
14,499.00
DEVELOPER DEPOSITS
867,651.62
867,651 62
MISC. DEPOSITS
438,848.65
438,848 65
AGENCY FUND DEPOSITS
1,484,876.63
1,484.876 63
TOTAL DEPOSITS
2,791,376.90
14,499,00
2,805.875 90
DEFERRED REVENUE
387,604.00
11,378,904 00
11.766.508 00
OTHER LIABILITIES TOTAL
387,604.00
11,378,904,00
11.766.508 00
COMPENSATED ABSENCES PAYABLE
373,536.65
373,536.65
DUE TO THE CITY OF LA QUINTA
578,311.00
189,725.50
768.036.50
DUE TO COUNTY OF RIVERSIDE
10,989,847.00
10.989.847 00
DUE TO C.V. UNIFIED SCHOOL DIST.
8,747,405.50
8.747.405.50
DUE TO DESERT SANDS SCHOOL DIST.
BONDS PAYABLE
64,335,000.00
7,750,000.00 72,085,000.00
TOTAL LONG TERM DEBT
951,847.65
84,261,978.00
7,750,000.00 92,963,825 65
TOTAL LIABILITIES 4,198,339.57 951,847.65 25,511,677.53 84,261,978.00 7.750.000,00 122,673,842 75
EQUITY -FUND BALANCE 54.069,379,77 20,711,742.00 45,018,362 77 9,988,279 05 649.662,86 130,437.426 45
TOTAL LIABILITY & EQUITY 58,267,719 34 20,711,742.00 951,847.65 70,530,040 30 9,988,279.05 84,261,978 00 649,662,86 7,750,000.00 253,111,269 20
0.01 000 001
CASH & INVESTMENT TOTAL 100,275,034.92
PREMIUMIDISCOUNT ON INVESTMENT 265 991.33 -r
TOTAL 100,541,026.25 t\t
Oil
o� �o
F �
5
44
of V AGENDA CATEGORY:
COUNCIL/RDA MEETING DATE:
ITEM TITLE:
Transmittal of Revenue and
Expenditure Reports dated
December 31, 2001
RECOMMENDATION:
Receive and File
BUSINESS SESSION:
February 19, 2002 CONSENT CALENDAR:
BACKGROUND AND OVERVIEW:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the December 31, 2001 Statement of Revenue and Expenditures for
the La Quinta Financing Authority.
Respe,Gifully submitted,
hn M. Fblcdner, Finance Director
Approved for Submission by:
Thomas P. Genovese
City Manager
Attachments: 1. Revenue and Expenditures Report, December 31, 2001.
V�J
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
BUDGET RECEIVED
9,175.00 0.00
380.84
678,955.00 481,682.50
0.00
REMAINING %
BUDGET RECEIVED
9,175.00
0.000%
(380.84)
0.000%
197,272.50
70.940%
0.00
0.000%
688,130.00 482,063.34 206,066.66 70.050%
1,865.76 (1,865.76) 0.000%
7,535.37 (7,535.37) 0.000%
0.00 9,401.13 (9,401.13) 0.000%
TOTAL FINANCING AUTHORITY 688,130.00 491,464.47 196,665.53 71.420%
01 L�
04:37 PM02/11 /2002 ; iJ
LA QUINTA FINANCING AUTHORITY
07/01/2001-12/31/2001
REMAINING
%
EXPENDITURE SUMMARY
BUDGET
EXPENDITURES
ENCUMBERED
BUDGET
EXPENDED
DEBT SERVICE EXPENDITURES
SERVICES
9,589.00
6,237.50
0.00
3,351.50
65.0%
BOND PRINCIPAL
275,000.00
275,000.00
0.00
0.00
100.0%
BOND INTEREST
407,178.00
206,682.50
0.00
200,495.50
50.8%
TRANSFER OUT
0.00
0.00
0.00
0.0%
TOTAL DEBT SERVICE
691,767.00
487,920.00
0.00
203,847.00
70.5%
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
1,209,498.78
487 920.00
0.00
721 578.78
40 34%
04:37 P M 02/11 /2002