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2000 01 18 FApp/ F OZ U S FC�� OF La Quinta Financing Authority Agenda City Council Chamber 78-495 Calle Tampico La Quinta, California 92253 January 18, 2000 2:00 PM CALL TO ORDER Beginning Res. No. FA 2000-01 a. Roll Call Board Members: Adolph, Henderson, Perkins, Sniff, Chairman Pena PUBLIC COMMENT CONFIRMATION OF AGENDA APPROVAL OF MINUTES a. Approval of Minutes of December 21, 1999 CONSENT CALENDAR 1. APPROVAL OF TREASURERS REPORT DATED NOVEMBER 30, 1999. BUSINESS SESSION - None DEPARTMENT REPORTS A. FINANCE DIRECTOR 1. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED NOVEMBER 30, 1999, AND INVESTMENT SUMMARY FOR THE QUARTER ENDING DECEMBER 31, 1999. CHAIR AND BOARD MEMBERS' ITEMS - None PUBLIC HEARINGS - None ADJOURNMENT 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 January 18, 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, January 14, 2000. Dated: January 14, 2000 June S. Greek, CMC/AAE Secretary, La Quinta Financing Authority Page 2 c&t!t 4 4 Q" January 18, 2000 COUNCIL/RDA MEETING DATE: Transmittal of Treasurer's Report as of November 30, 1999 RECOMMENDATION: Receive and file. BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: / STUDY SESSION: PUBLIC HEARING: Transmittal of Treasurer's Report dated November 30, 1999 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. Respectf Ily submitted: 4 Jo n M. Falconer, 511nance Director Approved for submission by: Thomas P. Genovese, City Manager Attachment: Treasurer's Report, La Quinta Financing Authority MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for November 30, 1999 DATE: January 4, 2000 Attached is the Treasurer's Report for the month ending November 30, 1999. 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 Cash (1) $1,141,418 0 ($544,839) 596,579 LAIF 11,189,999 0 300,000 10,889,999 US Treasuries (2) 14,052,692 11,030,324 7,000,000 (15,037) 18,067,979 US Gov't Agencies (2) 17,628,448 0 0 42,138 17,670,586 (Commercial Paper 0 0 0 0 (Mutual Funds 9,020,698 0 3,896,469 _ _-_$11,196,469 { 517,738) 5,124,229 $52,349,372 !Total $53L033 255_ _ 1,030,324 Change_ ($544,839) (300,000) 4,015,287 42,138 0 (3,896,469) ($683,883) 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. Footnote (1) The amount reported in the other column represents the net increase (decrease) of deposits and withdrawals from the previous month. 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(N7 TT N10 l0 �,� N V N V N le W ' N ,, (O Ol 00 00 m OI, a'; sts{{OROIO., Oa�D 40'1N eOe���r 0(OOM 10 n 44 t00 n nJ MI aDNM�l'.h! N V Ct It 0 O LL O'I N N T.�, (O T M CIQ 7 IN i 00 (O M -0 t0 «00 N00. Gocolc01000' hM(O (Op OM ,Su O N 00 0► N V Oa n0N(OIM' I-v0Lq SOT u�'OI OTOTNprj O N h Q1 O Cl! �ONpi�'N�7 Nc0M0 O) 'a 0 M ILL `O' O M � I O I C7 C6 O" N « y h T 10 r000(0'Ni r hNO N (0 (O p a N N 0 0 N N m N V (O h (O 10 N h (O O V Lq 00 I 0 0 N ^ Cl)N i,�I N CO9 Tlt N o 0 (O N N tOl��, fh T V co LLol N M 0 (O V i I !pTjW; Mi_N A r-4 v O M N'(A phi O N I 10 a CD a N N a (DD OHO' '7 T c0 T�N' O co (O P T VI IiN� b h (0'T O O 0) N N O C%i al 01 O N C,4 h alT n N (0 (op:�l F- r` O a) co N ',O Cl N Inh �, ��-(h f6a 09 v N b j it li i I i �I I i c c m H C CL a A N v l E X N C W N « O m w U~ d m C U d y U y dl J CI N W =1 m m Q N C c��d x w cc c d D U mpp ci ai(i E a 9 da a d y W C ` LII>V G. L 0.d i d! m .- d x m d .- m ml (L U)Ol.W LuU) U �Fp--j 'z U w` z O N (n O O LO O 0 N (O v d O IL :s) O � o c d N T O N h corral Lq 01 i T N M 't04 O (7 (0 O V (0 T M N (O N coo OI (h N M O M N W N M N 0 (O O 1-:C N CD N N n! ONO h m C7 D) T W N N ol 00 CM 00 CM o (d v' EI c O'' m `O_' > 0 0I C N, �I m' A QI O d d m L1 Cc a cm cm al m C t O C 0 C m u U O 'J d U U, N ? z In «I- CO U m c � 00co a p LL C ma) a� d to) � a) w -CITY OF LA QUINTA CITY CITY RDA RDA FA BALANCE SHEET 11/30199 FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL ASSETS: POOLED CASH 3,888,088.28 6,070.262,13 (994.24) 9,937,358.17 LQRP INVESTMENT IN POOLED CASH 705.000.00 705,000 00 INVESTMENT T-BILLINOTES 8. OTHER 26,000,000.00 26,000,000.00 AUTO MALL CASH 781,556.49 781.556,49 LORP CASH 61,665.48 61.665.48 BOND REDEMPTION CASH 396,111.90 28.73 396.140.63 BOND RESERVE CASH BOND PROJECT CASH 14,088,644.14 590,543.79 14,679,087.93 BOND ESCROW CASH PETTY CASH 1.000.00 J 1,000.00 CASH i INVESTMENT TOTAL 30,650,844.77 21,321,583.85 589,578.28 52.561.806 70 INVESTMENT IN LAND HELD FOR RESALE ACCOUNTS RECEIVABLE 47,164.46 60,900.00 8,260.000,00 8.368,054A6 PREMIUMIDISCOUNT ON INVESTMENT (254.217.20) 41,783.03 (212.434.25) LQRP-ACCOUNTS RECEIVABLE 48,760.58 48,760.68 INTEREST RECEIVABLE 1,373.63 1,373.63 LOAN/NOTES RECEIVABLE 25,841.74 2,868,850.80 2.894.692.54 DUE FROM OTHER AGENCIES 127,984.00 127,994.00 DUE FROM OTHER GOVERNMENTS DUE FROM OTHER FUNDS 785.357.14 741,656.90 1,527,014.04 DUE FROM RDA 6,890,277.20 6,690.277 20 INTEREST ADVANCE -DUE FROM RDA 1,384,175.34 1,384,175.34 ADVANCES TO OTHER FUNDS 434.961.70 434,951.70 NSF CHECKS RECEIVABLE 1,988.86 1."5.86 ACCRUED REVENUE 833.40 833.40 TRAVEL ADVANCES 1,860.00 1,860.00 EMPLOYEE ADVANCES PREPAID EXPENSES ,_000.00 60.300.00 RECEIVABLE TOTAL 9.507.024.79 3.562.784.81 8.260.000.00 21,329.809,60 WORKER COMPENSATION DEPOSIT 37.637.00 37,637.00 RENT DEPOSITS UTILITY DEPOSITS 75.00 75.00 MISC. DEPOSITS 2,100.00 --------�--__- 2,100.00 DEPOSITS TOTAL 39.812.00 ---„--- 39,812,00 GENERAL FIXED ASSETS 1.289.594.28 15,148,522.00 10,233,506.05 26,669,722.33 ACCUMULATED DEPRECIATION (585,360.27) (585.360.27) AMOUNT AVAILABLE TO RETIRE L/T DEBT 3,395,117.03 3,395,117.03 AMOUNT TO BE PROVIDED FOR UT DEBT 1_677,4g2.02 _94.828�721.08 8.260,000,00 104,766.203_08 TOTAL OTHER ASSETS 704,334.01 15.146.522.00 _ 1,677,482.02 _ 10,233,506.05 98.223.838.09 8,260,000.00 134.245A82.17 TOTAL ASSETS 40.901 81 ._U . ljA§ 522.00__ 1 §77 482.02 24 8§4W46 10.233 00,Q6 _ 9§2a3.83Q09 _L"94-9_,578;__ 8,2600 990 00 208,117,119 47 LIABILITY ACCOUNTS PAYABLE 7,850.84 11,999.44 DUE TO OTHER AGENCIES 522.190.29 DUE TO OTHER FUNDS 575.00 1,517,134.04 INTEREST ADVANCE -DUE TO CITY ACCRUED EXPENSES PAYROLL LIABILITIES 01.701.81 STRONG MOTION INSTRUMENTS 4,651.65 FRINGE TOED LIZARD FEES 21.740.00 SUSPENSE 129.128.81 DUE TO THE CITY OF LA QUINTA PAYABLES TOTAL 747,848.40 11.999.44 1.517.134.04 ENGINEERING TRUST DEPOSITS 198.00 SO. COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 423,107.00 LQRP DEPOSITS DEVELOPER DEPOSITS 1,130,464.59 MISC. DEPOSITS 329,760.95 AGENCY FUND DEPOSITS TOTAL DEPOSITS 2,684,198.65 DEFERRED REVENUE 8,270.67__,—_`_____-__ • OTHER LIABILITIES TOTAL 8,270.87 COMPENSATED ABSENCES PAYABLE 337,880.86 DUE TO THE CITY OF LA OUINTA 1,327,601.72 DUE TO COUNTY OF RIVERSIDE DUE TO C.V. UNIFIED SCHOOL DIST. DUE TO DESERT SANDS SCHOOL DIST. BONDS PAYABLE TOTAL LONG TERM DEBT 1,885,482.58 TOTAL LIABILITY EQUITY -FUND BALANCE 3.440.117.72 37.481, 697.85 15,148, 522.00 15,364.00 15,364.00 1,577,482.02 1,532,498.04 19.660.28 522.190.29 9,305.00 1, 527.014.04 61,701,81 4.651.65 21,740.00 129.128.81 ---- -- 9.305.00 - — 2.286.088.88 198.00 423,107.00 15,364.00 1,130,464.69 329,760.95 --- 800.688.11 2.699.562.65 8.260.000.00 8.268.270.67 8,280,000.00 8,288,270.67 337,850.56 8,274,452.34 9,602,054.06 12,486,237.00 12,466,237.00 10,008,145.75 10,068,146.75 87_a415,000_00_. _ __,(504.08)8.260.00000 75;674,495.92 ____ 98,223,838.09 (504.08) 8.260.000 00 108,148,816.59 98,223,838.09 8,268,8W.92 8,260,000 D0 121.402.736 79 23,351,870.42 10,233,505.05 580,777.36 86.774.373.68 TOTAL LIABILITY i EQUITY 40 901 615 57 15,146,522,00 _ 1.877.482.02 24.884,3,A 10 233.508 05 98.223.8_M _�Q,§`L8 _ B 260 OOO.uU 20$,177,110,47- - (0.00) (0.00) (0.00) — - — CASH i INVESTMENTITOTAL 52,561,806.70 PREMIUMIDISCOUNT ON INVESTMENT (21 "-= TOTAL 52,349,372.,N DEPARTMENT REPORT: Tity/ " AGENDA CATEGORY: BUSINESS SESSION: COUNCIL/RDA MEETING DATE: January 18, 2000 CONSENT CALENDAR: STUDY SESSION: Transmittal of Revenue and Expenditure PUBLIC HEARING: Reports dated November 30, 1999 and Investment Summary for the Quarter ending December 31, 1999 RECOMMENDATION: Receive and File BACKGROUND AND OVERVIEW: Transmittal of the November 30, 1999 Statement of Revenue and Expenditures for the La Quinta Financing Authority. I certify that the Quarterly Investment Summary 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 Dept, U.S. Bank Monthly Statement and Bank of New York Monthly Custodian Report to determine the fair market value of investments at month end. Respectfully subm hn M. Falcoher, Finance Director Approved for Submission by: rz �e Thomas P. Genovese City Manager Attachments: 1 . Revenue and Expenditures Report, November 30, 1999 2. Quarterly Investment Summary, December 31, 1999 00 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 07/01/1999-11/30/1999 REMAINING % BUDGET RECEIVED BUDGET RECEIVED 5,600.00 0.00 5,600.00 0.00% 12,400.00 0.00 12,400.00 0.00% 679,670.00 467,397.50 212,272.50 68.77% 0.00 0.00 0.00 N/A 697,670.00 467,397.50 230,272.50 66.99% 0.00 5.84 (5.84) N/A 0.00 9,288.00 (9,288.00) N/A 0.00 9,293.84 (9,293.84) N/A 697,670.00 476,691.34 220,978.66 68.33% 00.1 LA QUINTA FINANCING AUTHORITY EXPENDITURE SUMMARY DEBT SERVICE EXPENDITURES SERVICES BOND PRINCIPAL BONDINTEREST TRANSFER OUT 07/01/1999-11/30/1999 REMAINING % BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED 9,020.00 1,000.00 250,000.00 250,000.00 429,670.00 217,397.50 0.00 0.00 0.00 8,020.00 11.09% 0.00 0.00 100.00% 0.00 212,272.50 50.60% 0.00 0.00 N/A TOTAL DEBT SERVICE 688,690.00 468,397.50 0.00 220,292.50 68.01% CAPITAL IMPROVEMENT EXPENDITURES TRANSFER OUT 517,731.78 0.00 0.00 517,731.78 0.00% TOTAL CAPITAL IMPROVEMENT 517,731.78 0.00 0.00 517,731.78 0.00% TOTAL FINANCING AUTHORITY 1,206,421.78 468,397.50 0.00 73s,UL4.2s W.tW/o 005 City of La Quinta Quarterly Investment Summary - Footnote 1 December31, 1999 Financing Authority Maturity Issuer of Investment Investment T Date Par Value Market Value Amortized Cost U.S. Bank Money Market Mutual Fund Next Da 592,864 592,864 592,864 Subtotal $592,864 $592,864 $592,864 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 (7,477) $585 387 0000