2000 02 15 FAoll T
U S
FCC OF,MtiO�
La Quinta
Financing Authority
Agenda
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
February 15, 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
1 . APPROVAL OF THE MINUTES OF FEBRUARY 1, 2000.
CONSENT CALENDAR
1. TRANSMITTAL OF TREASURER'S REPORT DATED DECEMBER 31, 1999.
BUSINESS SESSION
DEPARTMENT REPORTS
1. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED 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 February 15, 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, February 11, 2000.
Dated: February 11, 2000
a�' -(O'� 'et�t�
June S. Greek, CMC/AAE
Secretary, La Quinta Financing Authority
Page 2
AGENDA CATEGORY:
February 15, 2000 BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: CONSENT CALENDAR:
ITEM TITLE:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Treasurer's Report
as of December 31, 1999
RECOMMENDATION•
Receive and file.
BACKGROUND AND OVERVIEW:
Transmittal of Treasurer's Report dated December 31, 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.
Respectfully submitted,
John M. Falconer, Finance Director
Approved for submission by:
Thomas P. Genovese, City Manager
Attachment: Treasurer's Report, La Quinta Financing Authority
T4-ht 4 4 Q"
MEMORANDUM
TO: La Quinta City Council
FROM: John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for December 31, 1999
DATE: January 31, 2000
Attached is the Treasurer's Report for the month ending December 31, 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
Endinq__
I
;Cash (1)
$596,579
0
$1,469,650
2,066,229
$1
�LAIF
$10,889,999
600,000
5,900,000
5,589,999
(5,
US Treasuries (2)
$18,067,979
3,992,165
0
(25,110)
22,035,034
3,
SUS Gov't Agencies (2)
$17,670,586
1,945,049
0
49,163
19,664,798
1,
Commercial Paper
$0
0
0
0
Mutual Funds
$5,082,446
0
1,937,980
_
3,144,466 __
(1,
Total
52 307 589
6 537 214
7 837 980
1 493 703
t52 $00,526
,hanae
1469,650
300,000)
967,055
994,212
0
937,980) !
192,937
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.
4M77 ?-3 j 0 0
John M. Falconer Date
Finance DirectorlTreasurer
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 and Agency investments.
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CRY OF LA OUINTA
BALANCE SHEET 12/31199
ASSETS:
POOLED CASH
LORP INVESTMENT IN POOLED CASH
INVESTMENT T-BILLMOTES i OTHER
AUTO MALL CASH
LORP CASH
BOND REDEMPTION CASH
BOND RESERVE CASH
BOND PROJECT CASH
BOND ESCROW CASH
PETTY CASH 1,0D0.00 1.000.00
CASH i INVESTMENT TOTAL 30.924.078.36 21.342.217.01 585.397.38 52,751,692.75
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
PREMIUMVDISCOUNT ON INVESTMENT
LORP-ACCOUNTS RECEIVABLE
INTEREST RECEIVABLE
LOANINOTES RECEIVABLE
DUE FROM OTHER AGENCIES
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 80,300.00 60.300.00
RECEIVABLE TOTAL 9,545,070.05 3.603.132.18 8,260,000.00 21,308,202.23
CRY
CRY
FIXED
LONG TERM
CRY ASSETS
DEBT RDA
140.312.22
6.031.333.58
705,OD0.00
30.000,0D0.00
61112.186.14
103,293.31
407,125.57
14,095,464.55
RDA RDA FA
FIXED LONG TERM FINANCING LONG TERM
GRAND
ASSETS DEBT AUTHORITY DEBT
TOTAL
(7.476.74)
6,164,169.05
705.000.00
30.000.000.00
682.766.14
103.293 31
28.73
407.154.30
592,645.39 14,668,309.94
47,154.48
60,900.00
(234.339.28)
(16.828.08)
47,719.16
12.288.93
25.691.74
2,668,850.80
127.994.00
785,357.14
741.656.90
6,890,277.20
1.450.370.34
377,110.66
1,8911.86
033.40
978.00
8,260,000.00
8.368.054.46
(251.107.36)
47.719.16
12.268.93
2,694,542.54
127,964.00
1.527.014.04
6.590.277.20
1.450.370.34
377.110.66
1.695.86
833.40
978.00
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 1,289,694.28 15,146,S22.00 10.233.506.05 26,609,722.33
ACCUMULATED DEPRECIATION (595.360.27) (585.360.27)
AMOUNT AVAILABLE TO RETIRE L/T DEBT 3,395,117.03 3,395,117.03
AMOUNT TO BE PROVIDED FOR L/T DEBT 1.677.482.02 94,894,916.06 8,260,000.00 104.832.398.08
TOTAL OTHER ASSETS 704,334.01 15,146,S22.W 1.677.482.02 10,233,506.0S 98,290,033.09 8,260,000.00 134,311.8".17
TOTAL ASSETS 41.113,29442 15.146.522 00 1,077,482.02 24.845.349.19 10.233.S06 05 98.290.033.09 5.845.397.38 8.260.000.M Z08 411.56/.15
LIABILITY
ACCOUNTS PAYABLE
DUE TO OTHER AGENCIES
DUE TO OTHER FUNDS
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
PAYROLL LIABILITIES
STRONG MOTION INSTRUMENTS
FRINGE TOED LIZARD FEES
SUSPENSE
DUE TO THE CITY OF LA QUINTA
PAYABLES TOTAL
11.999.M
473,501.93
575.00
23.227.64
8,916.18
21,740.00
130.128.01
1,517,134.04
11.9N.44
473,591.93
0,305.00 1.527.014.04
23.227.64
6.916.18
21.740.00
130.120.81
656.179.48 11.999.44 1.517.134.04 9,305.00 - 2,194,617.94
ENGINEERING TRUST DEPOSITS
198.00
198.00
SO. COAST AIR QUALITY DEPOSITS
ARTS IN PUBLIC PLACES DEPOSITS
396,564.00
398,564.00
LORP DEPOSITS
15,364.00
15.364.00
DEVELOPER DEPOSITS
1.164.342.24
1.164.342.24
MISC. DEPOSITS
329.985.95
329,985.95
AGENCY FUND DEPOSITS
806.765.71
806.765.71
TOTAL DEPOSITS
2,697,855.90 15.364.00
2,713,219.90
DEFERRED REVENUE 8.270.67 8.260.000.00 8,268.27f.67
OTHER LIABILITIES TOTAL 8.270.67 8.260.000.00 8.268.270.67
COMPENSATED ABSENCES PAYABLE
337,8W.88
337.880.86
DUE TO THE CfTY OF LA QUINTA
1,327,601.72
8.340.647.34
9.668.249.06
DUE TO COUNTY OF RIVERSIDE
12.406.237.00
12,466,237.00
DUE TO C.V. UNIFIED SCHOOL DIST.
10.088.148.76
10,068,148.75
DUE TO DESERT SANDS SCHOOL DIST.
BONDS PAYABLE
67 415.000.00
(504.08) 8.260.000.00
75,674,495.92
TOTAL LONG TERM DEBT
1.865.482.58
98,290,033.09
(504.08) 8.250.000.00
106,215,011.59
TOTAL LIABILITY 3.362.308.03
1,677.432,02 1.532.498.04
98.290.033.09
8.288,11M.92 8,260,000.00
121,391,120.10
EQUITY -FUND BALANCE 37.750.988.39 15,146,522.00
23,312,851.15 10,233,508.05
576,596.46
87,020,464.05
TOTAL LIABILITY i EQUITY 41,113,294.42 15,146,522.90 1 677 482 02 24 645 34919 10,233.M.05 98,290,033.09 5,645,397.38 0,260 000 00 206.411.584.1 S
(0.00) (0.00)
CASH i INVESTMENT�OTAL 52,78/,692.75
PREMIUMVDISCOUNT ON INVESTMENT (251.167.361
TOTAL 52,500,526.39
nin
y
DEPARTMENT REPORT:
T-liiq�
i a 0�
COUNCIL/RDA MEETING DATE:
AGENDA CATEGORY:
BUSINESS SESSION:
February 15, 2000 CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Revenue and Expenditure
Reports dated December 31, 1999
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
Transmittal of the December 31, 1999 Statement of Revenue and Expenditures for
the La Quinta Financing Authority.
Respec Ily submitted -
Jo n M. Falcone , Finance Director
Approved for Submission by:
Thomas P. Genovese
City Manager
Attachments:
1. Revenue and Expenditures Report, December 31, 1999
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
07/01/1999-12/3111999
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
11,589.60
(11,589.60)
N/A
0.00
11,595.44
(11,595.44)
N/A
TOTAL FINANCING AUTHORITY 697,670.00 478,992.94 218,677.06 68.66%
LA QUINTA FINANCING AUTHORITY
EXPENDITURE SUMMARY
DEBT SERVICE EXPENDITURES
SERVICES
BOND PRINCIPAL
BONDINTEREST
TRANSFER OUT
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT EXPENDITURES
TRANSFER OUT
TOTAL CAPITAL IMPROVEMENT
07/01/1999 - 12/31/1999 REMAINING %
BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED
9,020.00
7,482.50
0.00
1,537.50
82.95%
250,000.00
250,000.00
0.00
0.00
100.00%
429,670.00
217,397.50
0.00
212,272.50
50.60%
0.00
0.00
0.00
0.00
N/A
688,690.00
474,880.00
0.00
213,810.00
68.95%
517,731.78 0.00 0.00 517,731.78 0.00%
517,731.78 0.00 0.00 517,731.78 0.00%
TOTAL FINANCING AUTHORITY 1,206,421.78 474,880.00 0.00 731,541.78 39.36%