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2000 08 15 FAv - 5 5 C� OF �ti La Quinta Financing Authority Agenda CALL TO ORDER a. Roll Call Board Members: PUBLIC COMMENT City Council Chamber 78-495 Calle Tampico La Quinta, California 92253 $ NIFTITIMITIM Beginning Res. No. FA 2000-03 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 JULY 18, 2000. CONSENT CALENDAR 1. TRANSMITTAL OF TREASURER'S REPORT DATED JUNE 30, 2000. 2. TRANSMITTAL OF REVENUES AND EXPENDITURE REPORT DATED JUNE 30, 2000, AND n f1 SUMMARY OF INVESTMENTS REPORT FOR THE QUARTER ENDING JUNE 30, 2000. 0 0 BUSINESS SESSION - None DEPARTMENT REPORTS - None CHAIR AND BOARD MEMBERS' ITEMS - None PUBLIC HEARINGS - None ADJOURNMENT - Adjourn to a Regular Meeting of the Financing Authority to be held on September 19, 2000, in the City Council Chambers, 78-495 Calle Tampico, CA 92553. 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 August 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, August 11, 2000. Dated: August 11, 2000 Jun . Greek, CIVIC 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 „- T4ht °f 46Q" COUNCIL/RDA MEETING DATE: August 15, 2000 ITEM TITLE: Transmittal of Treasurer's Report as of June 30, 2000 RECOMMENDATION: Receive and file. BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC BEARING: Transmittal of Treasurer's Report dated June 30, 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. RespectAully submitted: ohn M. Falconer, Director Approved for submission by: Thomas P. Genovese, City Manager Attachment: Treasurer's Report, La Quinta Financing Authority 003 TO: FROM: MEMORANDUM La Quinta City Council John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for June 30, 2000 DATE: August 2, 2000 Attached is the Treasurer's Report for the month ending June 30, 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 Cash (1) LAI F US Treasuries (2) US Gov't Agencies (2) Commercial Paper (2) ;Mutual Funds Total inning f Purchased Other Change $718,281 ! 637,098 1,355,379 $637,098 $11,072,960 1,100,0010 700,000 11,472,960 400,000 $24,939,391 6,573,615 (88,502) 31,424,504 6,485,113 $19,903,725 6,159,798 7,000,000 47,249 19,110,772 (792,953) $3,978,974 4,000,000 21,026 0 (3,978,974) $4,081,636 49,305 4,032,331 (49,305) _$64 694,967 1$13,833,413 '', $12,366,176 $595,845 $67,395.946 $2,700.979 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. John M. Falconer Finance Director/Treasurer 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 3 y Iu d z z z Z Z z z z W Q � o � c 0 c �j ° v m U U op Q � a W o rn U � n LL y o o c I U ayi O N I V > I C C CD v m N N 1. t0 N C O C N C O C CIAN c N O O A d > pp tp C T O Ol C U p Q ` o O Cq� C. 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N V O(O� (`� M(0 OO n N O pp M V M OOpp cO V LL t0 N c0 Cl)C4 (D ON) V cn M rf O e (D O(�N(D� N =pN O COO 0)� V N V LLpj T N CO n^ V (l7 V M O LO Wf (O1+M nynj N V N CN V.0CD^cD V n c0 T N C d E L > o Oc d > c L N U) C a z R N C Yf d a) x N d m 7 c m O a ns m C U d d O) d c N L x c m p N C j x A A V H 7C N 7 m¢ y a C m U y W N y N m c U >z U mp c N y(i E L c H x> oCL 2CLw a U c .c C r N H d .c 7 ;p N x d y c :U M x W > 0) c A U (� a aci a>i N Cd' m a`PinOw LUCAx E m OF°- O N M M n LO a O o M O O O o M 00 M CO) coO V Clc0 V n cc N_ O (O N en pro M M N nN M M N M M 00 n O c .N- M N M M cn r- M M LO Ln m O co n to N CO N O oVD � M V M 0 c n M h co cn C N y o is cui > 0 0 0 ag m a) U m Z U to 010 1 E CITY OF LA QUINTA CITY CITY RDA RDA FA BALANCE SHEET 06130= FIXED LONG TERM FIXED LONG TERM FINANCING LONG TERM GRAND CITY ASSETS DEBT RDA ASSETS DEBT AUTHORITY DEBT TOTAL ASSETS: POOLED CASH (4,W9,132.05) 16,261,023.75 (905.14) 11.751.086 55 LORP INVESTMENT IN POOLED CASH 805,000.00 805.000,00 INVESTMENT T-BILLINOTES i OTHER 41,980,000.00 AUTO MALL CASH 2O0,714.59 41,980.000 00 LORP CASH 70.537.78 200,714.59 BOND REDEMPTION CASH 255.336.31 28.73 70.537 78 255,365.04 BOND RESERVE CASH BOND PROJECT CASH 12,197,290.24 594.676.69 12.791.966.93 BOND ESCROW CASH PETTY CASH 1,000.00 CASH& INVESTMENT TOTAL 37,872,582.53 29,589,188.08 593,900.28 1.000.00 -- - 87.855.670.89 INVESTMENT IN LAND HELD FOR RESALE ACCOUNTS RECEIVABLE 319,624.00 60,900.00 8,260,000.00 8,640,524.00 PREMIUM/DISCOUNTON INVESTMENT (391,327.91) (61,407.87) (6,988.07) (459,723,85) LORP-ACCOUNTS RECEIVABLE 59.451.36 INTEREST RECEIVABLE 572.633.92 59,451,36 LOAN/NOTES RECEIVABLE 16,2SS.21 2,678,631.60 572.633.52 2,694,899.81 DUE FROM OTHER AGENCIES 342,906.82 DUE FROM OTHER GOVERNMENTS W1,430.19 342.906.82 DUE FROM OTHER FUNDS 1,3W,931.36 551,529.04 601.430.19 1.938.560.42 DUE FROM RDA 8,613,127.20 INTEREST ADVANCE -DUE FROM RDA 1,851,116.34 5,613,127.20 ADVANCES TO OTHER FUNDS 111,508.10 1,851,116,34 NSF CHECKS RECEIVABLE 3,154.11 111,508.10 ACCRUED REVENUE 833.40 3.154.11 TRAVEL ADVANCES 1,449.00 833.40 EMPLOYEE ADVANCES 1.449.00 PREPAID EXPENSES 65,323.00 332,087.50 397.410.50 RECEIVABLE TOTAL 13,494,144.25 3,622,125.03 8,253,011.93 _ 25,369,281.22 WORKER COMPENSATION DEPOSIT 37.637.00 RENT DEPOSITS 37.63T00 UTILITY DEPOSITS 75.00 7500 MISC. DEPOSITS 2.360.00 2,350.00 DEPOSITS TOTAL 40,082.00 46,062.60 GENERAL FIXED ASSETS 1,386,331.87 15,693,354.00 10,238,506.05 27,316,191.72 ACCUMULATED DEPRECIATION (695,581.27) (685,681.27) AMOUNT AVAILABLE TO RETIRE LIT DEBT 3.395.117.03 3,395,117.03 AMOUNT TO BE PROVIDED FOR L? DEBT 1,612,146.34 94,555,923.56 8,010,000.00 104,178,069.90 TOTAL OTHER ASSETS 700,750.40 15,693,354.00 1,612,146.34 10,236,508.05 97,951,040.59 8,010,000.00 134,203,797.38 TOTAL ASSETS 51,907,539 19 15,693,354,00 1,612,146.34 33,211,313.11 10,236,506.05 97,951,040.59 8 848 912 21 8 010 000.00 427 468.811.49 LIABILITY ACCOUNTS PAYABLE 1,788,281.48 133,177.86 1,921,439.34 DUE TO OTHER AGENCIES 1,377,907.94 589,835.01 1,967,742.95 DUE TO OTHER FUNDS 602,005.19 1,327,250.23 9,305.00 1,938,560.42 INTEREST ADVANCE -DUE TO CITY ACCRUED EXPENSES 351,119.18 351,119.18 PAYROLL LIABILITIES 5,044.58 5,044.58 STRONG MOTION INSTRUMENTS (30.06) (30.06) FRINGE TOED LIZARD FEES 29.661.50 29,681.50 SUSPENSE 6,702.55 6,702.65 DUE TO THE CITY OF LA QUINTA PAYABLES TOTAL 4,180,872.48 2,050,283.10 9.305.00 8,220,240.58 ENGINEERING TRUST DEPOSITS SO. COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 468,085.22 468,085.22 LORP DEPOSITS 14,808.00 14 806 00 DEVELOPER DEPOSITS 1,057,653.88 1,057,653.88 MISC. DEPOSITS 408,481.61 408,481.01 AGENCY FUND DEPOSITS 1,804,787.35 1,804,757.35 TOTAL DEPOSITS 3,739,008.00 14,808.00 _ _ _ 3,753,814.05 DEFERRED REVENUE 8,270.67 8,260,000.00 8,258,270.67 OTHER LIABILITIES TOTAL 8.270.67 __ 8,260,000.00 8,266,270.67 COMPENSATED ABSENCES PAYABLE 321,991.94 321.991.94 DUE TO THE CITY OF LA QUINTA 1,290,154.40 10,373,716.34 11,053,870.74 DUE TO COUNTY OF RIVERSIDE 12,249,102.00 12.249.102.00 DUE TO C.V. UNIFIED SCHOOL DIST. 9,418,222.25 9,418,222.25 DUE TO DESERT SANDS SCHOOL DIST. BONDS PAYABLE 65,910,000.00 8,010,000.00 73,920,000.00 TOTAL LONG TERM DEBT 1,612,146.34 97,951,040.59 8,010,000.00 107,573,186.93 TOTAL LIABILITY 7,907,951.19 1,812,146.34 2,065,069.10 97,951,040.59 8,269,305.00 8,010,000.00 125,815,512.22 EQUITY -FUND BALANCE 43,999,588.00 15,893,364.00 31,146,244.01 10,236,506.05 577,607.21 101,653,299.27 TOTAL LIABILITY i EQUITY 51 907 53919 15,893,354,00 1,612,146.34 33,211,313.11 10,236,506.05 97,951 040 59 8,846,912.21 8,010,000.00 227.40 811.49 CASH i INVESTMENT TOTAL 67,655,670.99 PREMIUMIDISCOUNT ON INVESTMENT 1459,723.651 TOTAL 67,395,947.04 o 11, n T4'it 4 4Q" COUNCIL/RDA MEETING DATE: August 15, 2000 ITEM TITLE: Transmittal of Revenue and Expenditure Report and Investment Summary Report for the Quarter Ending June 30, 2000 RECOMMENDATION: Receive and File BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: STUDY SESSION: PUBLIC HEARING: Transmittal of the June 30, 2000 Statement of Revenue and Expenditures and Investment Summary for the La Quinta Financing Authority. Respgctfully submitted: ohn M. Falofoner, Finance Director Approved for Submission by: Thomas P. Genovese City Manager Attachments: 1. Revenue and Expenditures and Investment Summary Report, June 30, 2000 01w 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 07/01/1999-6/30/2000 REMAINING % BUDGET RECEIVED BUDGET RECEIVED 5,600.00 0.00 5,600.00 0.00% 12,400.00 (566.03) 12,966.03 -4.56% 679,670.00 679,670.00 0.00 100.00% 0.00 8,332.58 (8,332.58) N/A 697,670.00 687,436.55 10,233.45 98.53% 0.00 5.81 (5.81) N/A 0.00 14,765.41 (14,765.41) N/A 0.00 14,771.22 (14,771.22) N/A TOTAL FINANCING AUTHORITY 697,670.00 702,207.77 (4,537.77) 100.65% o1 3 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 - 6/30/2000 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% 429,670.00 429,670.00 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% 01"t 0 City of La Quinta Quarterly Investment Summary - Footnote 1 June 30, 2000 Financing Authority Maturity Issuer of Investment Investment T Date Per Value Market Value Amortized Cost U.S. Bank Money Market Mutual Fund Next Day 86,694 86,694 86,694 U.S. Bank Treasury Bill 21-Se 515,000 508,062 508,012 Subtotal $601,694 $594,756 $594,706 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 (805) $593,901 015-