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2000 05 16 FAU _ S ti5 OF 9 La Quinta Financing Authority CALL TO ORDER a. Roll Call Board Members: PUBLIC COMMENT Agenda City Council Chamber 78-495 Calle Tampico La Quinta, California 92253 May 16, 2000 3:00 PM Beginning Res. No. FA 2000-01 Adolph, Henderson, Perkins, Sniff, Chairman Pena Atthis 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 . APPROVAL OF THE MINUTES OF APRIL 18, 2000. CONSENT CALENDAR TRANSMITTAL OF TREASURER'S REPORT DATED MARCH 31, 2000. 2. TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED MARCH 31, 2000. ()101 BUSINESS SESSION - None DEPARTMENT REPORTS CHAIR AND BOARD MEMBERS' ITEMS - None [ 11 [ij1;L4 11in1zk1� ADJOURNMENT [0-t11U: ; • 1t�1����Pi1� 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 May 16, 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, May 12, 2000. Dated: May 12, 2000 ?-D- J��b- 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. Page 2 V �: T,itlt 4 4 Qum& COUNCIL/RDA MEETING DATE: May 16, 2000 Transmittal of Treasurer's Report as of March 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 March 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. espec Ily submifite Jolin M. Falcon r, Finance Director Approved for submission by: 117 Thomas P. Genovese, City Manager Attachment: Treasurer's Report, La Quinta Financing Authority 00 T4ht 4 4 Q" MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for March 31, 2000 DATE: May 2, 2000 Attached is the Treasurer's Report for the month ending March 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__Change 1 Cash (1) $1,052,768 $114,478 1,167,246 $114,478 LAW $11,432,650 600,000 10,832,650 (600,000) US Treasuries (2) $19,014,735 499,762 (10,548) 19,503,949 489,214 US Gov't Agencies (2) $19,735,643 4,998,000 5,000,000 56,650 19,790,293 54,650 Commercial Paper (2) $0 0 0 Mutual Funds $7,782,889 2,433,969 5,348,920 - ----- - - 2,433,969 -(----- -) Total _ _ _ $59,018 685 5 612 240 8 033 969 6 102 _ $56,643,058 _ _($2 375,627) I certify that this report accurately reflects all pooled investments and is in compliance with the California Government Code; and ins in conformity with the City Investment Policy. As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated revenues are available to meet the pools expenditure requirements for the next six months. the City of La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and the Bank of New York Monthly Custodian Report to determine the fair market value of investments at month end. -/Itll n M. Falconer Director/Treasurer S oV at Footnote (1) The amount reported in the other column represents the net increase (decrease) of deposits and withdrawals from the previous month. (2) The amount reported in the other column represents the amortization of premium/discount for the month on US Treasury, Commercial Paper and Agency investments. M`4 z F U LL LU Z G G a z W 0 d a O H 'a n R QE y'g o a .. c U U U U. g a E$ " u m w � m E• 4 a T WW N N N N M N a 0 9N y m N V N 1 pppQ a X l+f T m 0 0 "v a m o o 8 ca W E N 3 aU. 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COp CD CO (OO N N v O r V Cf too r 0 Ol O ( N� ('> O7 C)w Cp (O «pA It MOOaON CO N d'00"Iq(n M co �O0 w ACO(A(�pM N O pj agtj M N �' f O g co A In M cn N N M O M N N r A Ci Cl) N O N r 0 M) v C.;LL 00It Cl) MOto 0 O�p(00p 1,G00-t0 (">Yf O 01 CI N a S W 0� O O M N 0(p (O O (n CD dA ,i ; OO eMA O v O1 1 M d' O cli O tM0 t0 tMp p LL tn NMN COCq N�ONMV N M N N M OM co !OAO(O4OCrh ON0 10 O Uf0 IdrO. 000 co n P)(7 CoC A�V A MNrMC N A L CAND C NMH N N Nl 13 «�(y OD O AOOMN CY) NO CO CD 4m knO(n(OCD0 p0/ O p�pp 00 a N�NNO W CD N O U. CD Wf M(�MN N v CO Cl) 10 O 01 m(rn OD r 00 O �C00_0NA CO r r (n N V-NNMO O ^ C0D O O tr0 (.1 0 CAN 0L6 O MM ON CO pO L �p 06N9 N OI -is r A O N � A V. AO N�^1-(+f Mir RCf OM M(n OOrM A 1n T rNr rM ... QEC L cm y 7 i C C y C a a � � A 4) r „yCD (CO F' d Or-(0 C C (C c o m U> K I m m toC y A L A a F O CD N Q e C C= y ell ii CDy y m C V c m(i E °;�' a „ 0 5 ~cm>ayi �0Qo. c a�i y C� c C C 47 F- N N �j C C y j ti W y Ol L d L 0 fNG «ao LO C 0 m IL 0019 wXU)w0 z U w z y N C m L U V O O z z U) 7 N C C > yy OfW 010 CITY OF LA QUINTA BALANCE SHEET 03/31/00 ASSETS: POOLED CASH LQRP INVESTMENT IN POOLED CASH INVESTMENT T-BILL/NOTES 6 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 S INVESTMENT TOTAL 33,018,375.37 23,192,928.56 590,862.W 56.800.166.63 INVESTMENT IN LAND HELD FOR RESALE CITY CITY FIXED LONG TERM CITY ASSETS DEBT RDA 2,886,395.57 8,133,808.53 755,000.00 30,000,000.00 348,979.80 95,498.67 9,562.56 14,199,080.70 RDA RDA FA FIXED LONG TERM FINANCING LONG TERM GRAND ASSETS DEBT AUTHORITY DEBT TOTAL (784.21) 10,799,417.89 755,000.00 30,000,000.00 348,979.50 95,498.67 28.73 9,591.39 591.618.08 14,790,670.78 ACCOUNTS RECEIVABLE 35,711.23 60,993.90 8,200,000.00 8,356,695.13 PREMIUM/DISCOUNTONINVESTMENT (143,929.28) (13,179.05) (157,106.36) LORP-ACCOUNTS RECEIVABLE $4,431.00 54,431.06 INTEREST RECEIVABLE 18,627.82 18,827.82 LOAN/NOTES RECEIVABLE 19,775.15 2,668,850.80 2,888,625.95 DUE FROM OTHER AGENCIES 127,984.00 127.964.60 DUE FROM OTHER GOVERNMENTS DUE FROM OTHER FUNDS 785,501.19 741,856.90 1,527,158.09 DUE FROM RDA 7,005,277.20 7,005,277.20 INTEREST ADVANCE -DUE FROM RDA 1,679,709.34 1,679,799.34 ADVANCES TO OTHER FUNDS 192.925.78 192,925.78 NSF CHECKS RECEIVABLE 2,214.85 2.214.86 ACCRUED REVENUE 833.40 8W.40 TRAVEL ADVANCES 2,663.00 Z863.00 EMPLOYEE ADVANCES PREPAID EXPENSES RECEIVABLE TOTAL 9,726,550.29 3,513,578.98 8.260.000.00 21,50Q127.27 WORKER COMPENSATION DEPOSIT RENT DEPOSITS UTILITY DEPOSITS 75.00 75.00 MISC. DEPOSITS 2,100.00 2.100.00 DEPOSITS TOTAL $175.00 2.175.00 GENERAL FIXED ASSETS 1,330,347.28 15,295,816.00 10,238,508.05 2603,169.33 ACCUMULATED DEPRECIATION (574,043.27) (574.043.27) AMOUNT AVAILABLE TO RETIRE LIT DEBT 3,395,117.03 3,395,117.03 AMOUNT TO BE PROVIDED FOR UT DEBT 1877 482.02 95124 345.08 8 2W.000.00 105 061 827.08 TOTAL OTHER ASSETS 750,804.01 15,285,618.00 1,677,482.02 10,230,500.06 98,519,462.09 8,280,000.00 134,736,070.17 TOTAL ASSETS 43,501,904.67 15,285,818.00 1.677.482.02 28.705.505.54 10,238,506.05 95,519,462.09 8,11H.862.60 8,250,000 00 213 038 638.97 LIABILITY ACCOUNTS PAYABLE I I.M.44 I1,999.44 DUE TO OTHER AGENCIES 951,420.14 951,428.14 DUE TO OTHER FUNDS $75.00 1,517,278.09 9,305.00 1,527,158.09 INTEREST ADVANCE -DUE TO CITY ACCRUED EXPENSES PAYROLL LIABILITIES 51.379.55 51,376.55 STRONG MOTION INSTRUMENTS 7,012.47 7.012.47 FRINGE TOED LIZARD FEES 28,890.00 28,690.00 SUSPENSE 3,000.00 3,000.00 DUE TO THE CITY OF LA QUINTA PAYABLES TOTAL 1,042,285.16 I1,999.44 1,517,278.09 9,305.00 2,580,857.69 ENGINEERING TRUST DEPOSITS SO. COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 408,251.95 408,251.95 LORP DEPOSITS 15.384.00 15,364.00 DEVELOPER DEPOSITS 1,113,692.18 25,000.00 1.138.592.18 MISC. DEPOSITS 365,300.95 365,309.95 AGENCY FUND DEPOSITS 1.151.476.41 1,151,476.41 TOTAL DEPOSITS 3,038,830.49 40.364.00 3,078,994.49 DEFERRED REVENUE 8.270.67 8,260,000.00 8,268,270.67 OTHER LIABILITIES TOTAL 8,270.67 8,200,000.00 8,268,270.67 COMPENSATED ABSENCES PAYABLE 337,880.86 337,880.85 DUE TO THE CITY OF LA QUINTA - 1,327,601.72 8,570,076.34 9.897.678.05 DUE TO COUNTY OF RIVERSIDE 12,465,237.00 12,458,237.00 DUE TO C.V. UNIFIED SCHOOL DIST. 10,068,148.75 10,088,148.75 DUE TO DESERT SANDS SCHOOL DIST. BONDS PAYABLE 87,415,000.00 8,250,000.00 75,87500.00 TOTAL LONG TERM DEBT 1,055,482.58 98,519,462.09 8.200.000.00 108,444,944.67 TOTAL LIABILITY 4,009,188.32 1,677,482.02 1.557.842.09 98,519,462.09 8,269,305.00 8,250,000.00 122,373,077.52 EQUITY -FUND BALANCE 30,412,718.35 15,285,818.00 25,148,803.45 10,236,S08.05 581.557.60 90,855,461.45 TOTAL LIABILITY i EQUITY CASH i INVESTMENT TOTAL 56,800,1".63 PREMIUM/DISCOUNT ON INVESTMENT (108.361 TOTAL 88,643,OBt.17 01J T--,d4t 4 4 Q" COUNCIL/RDA MEETING DATE: May 16, 2000 Transmittal of Revenue and Expenditure Reports dated March 31, 2000 RECOMMENDATION: Receive and File BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: C STUDY SESSION: PUBLIC HEARING: Transmittal of the March 31, 2000 Statement of Revenue and Expenditures for the La Quinta Financing Authority. Respectfully submitted: r1 hn M. Falcon6r, Finance Director Approved for Submission by: Thomas P. Genovese City Manager Attachments: 1. Revenue and Expenditures Report, March 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 -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% 679,670.00 679,670.00 0.00 100.00% 0.00 8,332.58 (8,332.58) N/A 697,670.00 687,457.37 10,212.63 98.54% 0.00 5.92 (5.92) N/A 0.00 18,694.87 (18,694.87) N/A 0.00 18,700.79 (18,700.79) N/A 697,670.00 706,158.16 (8,488.16) 101.22% 003 LA QUINTA FINANCING AUTHORITY EXPENDITURE SUMMARY 07/01/1999 - 3/31/2000 REMAINING % BUDGET EXPENDITURES ENCUMBERED BUDGET EXPENDED DEBT SERVICE EXPENDITURES SERVICES BOND PRINCIPAL BONDINTEREST TRANSFER OUT TOTAL DEBT SERVICE CAPITAL IMPROVEMENT EXPENDITURES TRANSFER OUT TOTAL CAPITAL IMPROVEMENT 9,020.00 9,081.50 0.00 (61.50) 100.68% 250,000.00 250,000.00 0.00 0.00 100.00% 429,670.00 429,670.00 0.00 0.00 100.00% 0.00 0.00 0.00 0.00 N/A 688,690.00 688,751.50 0.00 (61.50) 100.01 % 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 1,206,421.78 697,084.08 0.00 509,337.70 57.78% U C3