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2000 04 18 FAIrvcwaoxnn'n G� C��1 OF L19 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 April 18. 2000 3:00 PM Beginning Res. No. FA 2000-01 Adolph, Henderson, Perkins, Sniff, Chairman Pena 1. APPROVAL OF THE MINUTES OF MARCH 21, 2000. CONSENT CALENDAR 1. TRANSMITTAL OF TREASURER'S REPORT DATED FEBRUARY 29, 2000. 2. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED FEBRUARY 29, 2000 AND INVESTMENT SUMMARY FOR THE QUARTER ENDING MARCH 31, 2000. BUSINESS SESSION - None DEPARTMENT REPORTS 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 April 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, April 14, 2000. Dated: April 18, 2000 June S. Greek, CMC/AAE 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. 002 Page 2 T4ty,, 4 4 Q" AGENDA CATEGORY: BUSINESS SESSION: COUNCIL/RDA MEETING DATE: April 18, 2000 CONSENT CALENDAR: ITEM TITLE: STUDY SESSION: Transmittal of Treasurer's Report PUBLIC HEARING: as of February 29, 2000 RECOMMENDATION: Receive and file. BACKGROUND AND OVERVIEW: Transmittal of Treasurer's Report dated February 29, 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. Ily submitted: ohn M. Falcoher, Finance Director Approved for submission by: C-;� Z), ' Thomas P. Genovese, City Manager Attachment: Treasurer's Report, La Quinta Financing Authority 003 TW(t 4 4 49MM MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance DirectorlTreasurer SUBJECT: Treasurers Report for February 29, 2000 DATE: March 28, 2000 Attached is the Treasurers Report for the month ending February 29, 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 Change Cash (1) $1,070,446 ($17,678) 1,052.768 ($17,678) LAW $9,932,650 3,000,000 1,500,000 11,432,650 1,500,000 US Treasuries (2) $22,021,283 0 3,000,000 (6,548) 19,014,735 (3,006,548) US Gov't Agencies (2) $19,683,980 0 51,663 19,735,643 51,663 Commercial Paper (2) $3,988,755 0 4,000,000 11,245 0 (3,988,755) Mutual Funds $3,221,337 4,561,552 7,782,889 4,561,552 Total 59 918 451 7 561 552 8 500 000 $59,018.685 899 766 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. %i n M. Falconer ince Director/Treasurer 3 3r / 00 Date 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 004 003 g A v LL N LL N N a IL N N a § § y � LL. 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O LL 1 '„ c) f7 W A �p s s Ln epph�� V Grp aON�ON NM N 0 h N r Cl M N N N M M N91) a $��Npp pp Epp tpO �OpN CO�p Oms�p— O��YppV �Of� 1 f N N ��19O rO fp Nl'7M�N fD� A a ti IL h NONaO M.-OfNM� N n N §�y nonap0p_k N CI N W cn c! ^nVN m N i�0 O W �y MS W Ln N 00 ' N /h A N N NQM ar05�5�MN aoQu~pS� p s� pp �y ': ;tp In W o_tC�pD ay Nl N M W lrn e'7 N� NON�O fV Sol - o N V NcoU. � M��p.� Iff M M p g m{�1 O{1 R�fC NA do ot m �$V ('3O NO1� M4F)NN W pt y�y�� 1 ej l+l Y M 10 M W n7h gaQQO':W Oa W W f0 /0 1pn IfI ONaCNN O.9 NN� O fV 1:1! ok�-fOO. aD�pAp g �p ID N ct O G Ah zt � NC6'i q v �' L C L ~ C a+ A c N 9 � LL� goH (� ". NCr�Nfa 7 m C C �y ul �YC iI CyC'A d� m 0Q aCcJg�CMO-0; 2 U W Z LL U) uO N CD lep 9z 009 Z I onq CITY OF LA QUINTA BALANCE SHEET 0212SM ASSETS: POOLED CASH LORP INVESTMENT IN POOLED CASH INVESTMENT T-BILUNOTES 3 OTHER AUTO MALL CASH LQRP CASH BOND REDEMPTION CASH BOND RESERVE CASH BOND PROJECT CASH BOND ESCROW CASH PETTY CASH 1,000.00 1,000.00 CASH i INVESTMENT TOTAL 33,577,441.49 25,05$806.09 589,258.88 59,210,306.48 INVESTMENT IN LAND HELD FOR RESALE ACCOUNTS RECEIVABLE PREMIUMIDISCOUNT 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 RECEIVABLE TOTAL 9.579.801.63 3,511,358.68 8,260,000.00 21,351,190.31 CITY CITY FUMD LONG TERM CRY ASSETS DEBT RDA 3,024,758.04 8,078,328.88 755,000.00 30,000,000.00 $51,885.45 74,684.59 1,955,155.74 14,179,437.10 RDA RDA FA FUMD LONG TERM FINANCING LONG TERM GRAND ASSETS DEBT AUTHORITY DEBT TOTAL (35.21) 11,103,049.49 755,000.00 30,000,000.00 551,885.45 74.654.69 28.73 1.965.184.47 $89,265.36 14.766.702.46 35,711.23 80,963.90 (165,764.03) .(14.859.08) 53.921.76 12,265.93 17,855.99 2,688,850.80 127,964.00 785,501.19 74106.90 6,890,277.20 1,582,780.34 305.491.92 1.898.98 833.40 4,798.00 8,260,000.00 8.356.695.13 (200,622.11) 53,921.76 12,268.93 2,688,705.79 127.984.00 1.527.156.09 6.890.277.20 1,592,7W.34 306,491.92 1,896.86 833.40 4,798.00 WORKER COMPENSATION DEPOSIT RENT DEPOSITS UTILITY DEPOSITS 75.00 75.00 MISC. DEPOSITS 2100 00 2100.00 DEPOSITS TOTAL 2.175.00 2,175.00 GENERAL FIXED ASSETS 1,209,894.25 15,146,522.00 10,233,506.05 25,869,722.33 ACCUMULATED DEPRECIATION (565,360.27) (59 .360.27) AMOUNT AVAILABLE TO RETIRE LIT DEBT 3,396,117.03 3,395,117.03 AMOUNT TO BE PROVIDED FOR LIT DEBT 1,677,482.02 95,027,305.05 8,260,000.00 104,964,788.05 TOTAL OTHER ASSETS 704,334.01 15,146,522.00 1,677,482.02 10,233,505.05 9B,422,423.09 8,200,000.00 134,444,287.17 TOTAL ASSETS 43,863,752.13 15 146 S" 00 1,677,482.02 28.563.M.77 10,233,505.05 98422 423 09 8,849,255.88 8 250,000.00 215.018.938A4 LIABIUTY ACCOUNTS PAYABLE 1,163,736.40 11,999.44 3.785.45 749.00 1.180.273.29 DUE TO OTHER AGENCIES 1,083,645.89 1,063,645.89 DUE TO OTHER FUNDS 576.00 1,517,278.09 9,305.00 1.527.158.09 INTEREST ADVANCE -DUE TO CITY ACCRUED EXPENSES PAYROLL LIABILITIES 8,306.02 8.386.02 STRONG MOTION INSTRUMENTS 3,547.47 3,647.47 FRINGE TOED LIZARD FEES 26,890.00 26,090.00 SUSPENSE 3.000.00 3,000.00 DUE TO THE CITY OF LA QUINTA PAYABLES TOTAL 2,271,982.78 11.999.44 1,521,084.64 10,054.00 3,815,100.76 ENGINEERING TRUST DEPOSITS SO. COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 37505.24 375,895.24 LORP DEPOSITS 15,364.00 15.364.00 DEVELOPER DEPOSITS 1,208,498.89 1•200•490•69 MISC. DEPOSITS 365,559.95 365.550.95 AGENCY FUND DEPOSITS 1,157,547.98 1,157,547.98 TOTAL DEPOSITS 3,165,499.85 15,384.00 3,180,863.86 DEFERRED REVENUE 8,270 67 8,250,000.00 8,258 270.67 OTHER LIABILITIES TOTAL 8.270.67 6,260,000.00 6,258,270.67 COMPENSATED ABSENCES PAYABLE 337,880.86 337,8W.86 DUE TO THE CITY OF LA QUINTA 1,327,801.72 8.473.037.34 9,800,639.06 DUE TO COUNTY OF RIVERSIDE 12,406,237.00 12,486,237.00 DUE TO C.V. UNIFIED SCHOOL DIST. 10,069,148.75 10,066,148.75 DUE TO DESERT SANDS SCHOOL DIST. BONDS PAYABLE 67 416 000.00 8,250,0W.00 75,675,000.00 TOTAL LONG TERM DEBT 1,865,482.56 96,422,423.09 8,200,000.00 1108,347,905.67 TOTAL LIABILITY 5,445,753.31 1,677,482.02 1,538,428.54 95,422,423.09 8,270,054.00 8,260,000.00 123.612.140,96 EQUITY -FUND BALANCE 38,417,990.82 15,146,522.00 27,027,586.23 10,233,506.05 579.204.88 91,404,797.98 TOTAL LIABILITY i EQUITY 3 15148 522 00 1,877,492.02 28 583 994 77 10.233,508 05 9B 422 423 09 8 849 25B 88 8,250,000.00 215 018 931194 00) (0.00) (0. ) CASH i INVESTMENT TOTAL 69.M9.306.46 PREMIUMnXSCOUNT ON INVESTMENT (29RA22-M 1 1 TOTAL NA18.684.78 ON td n 1 1 (� 1 T4ht 4 4 Q" AGENDA CATEGORY: BUSINESS SESSION: COUNCIL/RDA MEETING DATE: April 18, 2000 CONSENT CALENDAR: 0- STUDY SESSION: Transmittal of Revenue and Expenditure Reports dated February 29, 2000 and PUBLIC HEARING: Investment Summary for the Quarter ending March 31, 2000 RECOMMENDATION: Receive and File BACKGROUND AND OVERVIEW: Transmittal of the February 29, 2000 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. spectfWly submitted: John M. Falconer! Finance Director 0 Approved for Submission by: Thomas P. Genovese City Manager Oil Attachments: 1 . Revenue and Expenditures Report, February 29, 2000 2. Quarterly Investment Summary, March 31, 2000 012 002 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 -3/31 /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 8,332.58 (8,332.58) N/A 697,670.00 475,184.87 222,485.13 68.11% 0.00 5.92 (5.92) N/A 0.00 16,342.15 (16,342.15) N/A 0.00 16,348.07 (16,348.07) N/A TOTAL FINANCING AUTHORITY 697,670.00 491,532.94 206,137.06 70.45% 013 004 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 - 3/31/2000 REMAINING % BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED 9,020.00 9,081.50 0.00 (61.50) 100.68% 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 688,690.00 476,479.00 0.00 212,211.00 69.19% 517,731.78 8,332.58 0.00 509,399.20 1.61% 517,731.78 8,332.58 0.00 509,399.20 1.61% TOTAL FINANCING AUTHORITY 1,206,421.78 484,811.58 0.00 721,610.20 40.19% 014 005 City of La Quinta Quarterly Investment Summary - Footnote 1 March 31, 2000 Financing Authority E-Se Issuer of Investment Investment T Date Par Value Market Value Amortized Cost U.S. Bank Money Market Mutual Fund 88,944 88,944 88,944 U.S. Bank TreasuryBill 515,000 500,323 500,351 Subtotal $603,944 $589,267 $589,295 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 (784) $588,511 015 006.