2000 03 21 FA0 c
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La Quinta
Financing Authority
Agenda
City Council Chamber
78-495 Calle Tampico
La Quinta, California 92253
CALL TO ORDER
a. Roll Call
Board Members:
PUBLIC COMMENT
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
March 21. 2000
3:00 PM
Beginning Res. No. FA 2000-01
Adolph, Henderson, Perkins, Sniff, Chairman Pena
1. APPROVAL OF THE MINUTES OF FEBRUARY 15, 2000.
CONSENT CALENDAR
1. TRANSMITTAL OF TREASURER'S REPORT DATED JANUARY 31, 2000.
BUSINESS SESSION - None
DEPARTMENT REPORTS
1 . REVENUE AND EXPENDITURES REPORT DATED JANUARY 31, 2000. 001
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 March 21, 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, March 17, 2000.
Dated: March 17, 2000
dn' --QDS , '�
June S. Greek, CMC/AAE
Secretary, La Quinta Financing Authority
002
Page 2
Tiht 4 4 Q"
March 21, 2000
COUNCIL/RDA MEETING DATE:
Transmittal of Treasurer's Report
dated January 31, 2000
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Treasurer's Report dated January 31, 2000 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.
RespectfAly subm
4��
M. Falconer, ,finance Director
Approved for submission by:
Thomas P. Genovese, City Manager
Attachment: Treasurer's Report, La Quinta Financing Authority
003
Titit 4 XP Q"
MEMORANDUM
TO: La Quinta City Council
FROM: John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for January 31, 2000
DATE: February 28, 2000
Attached is the Treasurer's Report for the month ending January 31, 2000. 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
Chan e
Cash (1)
$2,066,229
($995,783)
1,070,446
($995,783)
LAIF
$5,589,999
5,142,652
800,000
9,932,651
4,342,652
US Treasuries (2)
$22,039,034
0
0
(13,751)
22,021,283
(13,751)
US Gov't Agencies (2)
$19,664,798
2,965,313
3,000,000
53,869
19,683,980
19,182
Commercial Paper (2)
$0
3,982,420
0
6,334
3,988,754
3,988,754
Mutual Funds
$3,144,466
76,871
0
3,221,337
76,871
Total
$52 500 526
1$12,167,256
1 $3 800 000
$949 331
$59 918 451
1 $7 417 925
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.
l�
Finance Director/Treasurer
I Do
to
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, Commercial Paper and Agency investments.
004
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CITY OF LA QUINTA
BALANCE SHEET 01/31100
ASSETS:
POOLED CASH
LQRPINVESTMENT IN POOLED CASH
INVESTMENT T-BILUNOTES & OTHER
AUTO MALL CASH
LORP CASH
BOND REDEMPTION CASH
BOND RESERVE CASH
BOND PROJECT CASH
BOND ESCROW CASH
CITY
CITY
FIXED
LONG TERM
CITY ASSETS
DEBT RDA
(2,217,090.01)
11,728,679.27
705.000.00
34,000,000.00
855,813.69
99,730.58
413,414.40
14.172.097.39
RDA RDA FA
FIXED LONG TERM FINANCING LONG TERM
GRAND
ASSETS DEBT AUTHORITY DEBT
TOTAL
(35.21)
9,511,554.05
705,000.00
34,000,000.00
085.813.69
99,730.56
28.73
413,443.13
586.878.55 14,758,975.94
PETTY CASH 1,000.00 1,000.00
CASH & INVESTMENT TOTAL 32,469,723.86 27.118.921.64 586,572.07 80,175,517.39
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
PREMIUMIDISCOUNT ON INVESTMENT
LQRP-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 - -- -
RECEIVABLETOTAL 9,619,591.39 3,507,1109.48 8,250,000.00 21,387,200.87
35.711.23
60.983.90
(240.552.25)
(16,513.98)
51,798.46
103,351.43
18,544.80
2,868,11N.80
127,984.00
785,501.19
741,656.90
6,890,277.20
1,516,565.34
378,503.74
2.321.98
833.40
1,082A5
8,250,000.00
6.356.695.13
(257,066.23)
51.798.46
103,351.43
2,687,395.40
127,984.00
1,527,158.09
6,890,277.20
1.516.565.34
378,303.74
2,321.96
833.40
1,082.95
WORKER COMPENSATION DEPOSIT
RENT DEPOSITS
UTILITY DEPOSITS
75.00
00.00
2,175.00
MISC. DEPOSITS
2,100.00
-----
2,175.00
DEPOSITS TOTAL
2,175.00
GENERAL FIXED ASSETS
1.289.694.28 15.146.522.00
10.233.506.05
26,659,722.33
(565'360'27)
ACCUMULATED DEPRECIATION
(585.380.27)
3,395,117.03
3.395.117.03
AMOUNT AVAILABLE TO RETIRE LIT DEBT
AMOUNT TO BE PROVIDED FOR LIT DEBT
1,677,482.02 94,951,111.08
8,260,000.00 104.898.593.08
TOTAL OTHER ASSETS
704.334.01 15,146,522.00
1,877,482.02 10,233,508.05 98,356,228.09
8,250,000.00 134,378,072.17
42 795 824 15140 522 00
1,677,482.02 30 628 531 12 10 233 506 OS 98 358 228 09
8 848.872.07 8.260.000.00 . 215,942,905.43.
TOTAL ASSETS
LIABILITY
ACCOUNTS PAYABLE
11,999.44
,20.
1,13 8,1208 5
DUE TO OTHER AGENCIES
1,138,120.58
1,517,278.09
9,305.00 1,527,158.09
DUE TO OTHER FUNDS
575.00
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
1.
PAYROLL LIABILITIES
1,677.52
992.
1.740 8 9
STRONG MOTION INSTRUMENTS
1,902.98
21.00
FRINGE TOED LIZARD FEES
21,740.00
130,12828.81
SUSPENSE
130,128.81
DUE TO THE CITY OF LA QUINTA
PAYABLES TOTAL
1,204,234.89
11,999.44 1,517,278.09
- -- -
9.305.00 2.832.817.42
ENGINEERING TRUST DEPOSITS
SO. COAST AIR QUALITY DEPOSITS
361,612.10
ARTS IN PUBLIC PLACES DEPOSITS
381,512.10
15,384.00
15.364.00
LQRP DEPOSITS
1,
DEVELOPER DEPOSITS
1,252,530.35
365.789.95
85789.95
MISC. DEPOSITS
365,789.95
1 319 134 04
AGENCY FUND DEPOSITS
1,313,134.04
15,384.00
3,318,330.44
TOTAL DEPOSITS
3.302.956.44
8,270.87
8280.000.00 8,2888_87 270
DEFERRED REVENUE
5,280,000.00 8.258.270.87
OTHER LIABILITIES TOTAL
8.270.67
COMPENSATED ABSENCES PAYABLE
337,880.86
8,406,842.34
337,580.86
9.734.444.05
DUE TO THE CITY OF LA QUINTA
1,327,601.72
12,488,Y37.00
00
10.058,148.75
DUE TO COUNTY OF RIVERSIDE
10,088,148.75
10,058,148.75
DUE TO C.V. UNIFIED SCHOOL DIST.
DUE TO DESERT SANDS SCHOOL DIST.
e7 ns 000.o0
5,260.000.00_- 75,e7s,22o.99
BONDS PAYABLE
TOTAL LONG TERM DEBT
1,885,482.58 98 358,�,09
8,260,000.00 108,281,710.67
4,W5,472.00
1.877.482.02 1.532.642.09 98,358,225.09
8,269,305.00 8,250,000.00 122,701,129.20
TOTAL LIABILITY
EQUITY -FUND BALANCE
38.190.352.06 16.146.522.00
29,093,869.03 10,233,505.05
577,587.07 93,241,836.23
1 +0 2°35N 06 98 956 228.09
A AAA A72 07 8 260 000 00- 215 942.985A3
TOTAL LIABILITY & EQUITY
42 795 824 08 15148 522 00
CASH & INVESTMENT TOTAL
$0,175,517.39
PREMIUMIDISCOUNT ON INVESTMENT
1287.088.231
TOTAL
$9,914,451.16
DEPARTMENT REPORT:
c&ht 4 4a
COUNCIL/RDA MEETING DATE: March 21, 2000
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of Revenue and Expenditure
Reports dated January 31, 2000
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
Transmittal of the January 31, 2000 Statement of Revenue and Expenditures for
the La Quinta Financing Authority.
V
s
ubmitted-
Johh M. Falcon r, kinance Director
Approved for Submission by:
r; - �-- A" � d�—� �
Thomas P. Genovese
City Manager
Attachments:
1. Revenue and Expenditures Report, January 31, 2000
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 -1 /31 /2000
REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
5,600.00
0.00
5,600.00
0.00%
12,400.00
(545.21)
12,945.21
-4.40%
679,670.00
467,397.50
212,272.50
68.77%
0.00
0.00
0.00
N/A
697,670.00
466,852.29
230,817.71
66.92%
0.00 5.92 (5.92) N/A
0.00 13,955.34 (13,955.34) N/A
0.00 13,961.26 (13,961.26) N/A
697,670.00 480,813.55 216,856.45 68.92%
013
0nf,4
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 • 113112000 REMAINING %
BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED
9,020.00
8,332.50
0.00
687.50
92.38%
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
475,730.00
0.00
212,960.00
69.08%
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 1,206,421.78 475,730.00 0.00 730,691.78 39.43%
osq*.
004