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2000 10 17 FA
Tiht 4 4 Q" Financing Authority Agenda City Council Chamber 78-495 Calle Tampico La Quinta, California 92253 October 17. 2000 3:00 PM CALL TO ORDER Beginning Res. No. FA 2000-03 ROLL CALL: Board Members: Adolph, Henderson, Perkins, Sniff, Chairman Pena PUBLIC COMMENT At this 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 APPROVAL OF THE MINUTES OF SEPTEMBER 19, 2000. CONSENT CALENDAR 1. TRANSMITTAL OF TREASURER'S REPORT DATED AUGUST 31, 2000. 2. TRANSMITTAL OF REVENUES AND EXPENDITURE REPORT DATED AUGUST 31, 2000. BUSINESS SESSION - None DEPARTMENT REPORTS - None CHAIR AND BOARD MEMBERS' ITEMS - None 001 PUBLIC HEARINGS - None ADJOURNMENT -Adjourn to a Regular Meeting of the Financing Authority to be held on November 21, 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 October 17, 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, October 13, 2000. Dated: October 13, 2000 June S. 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. 2 1J 1 A0;? T4t!t 44Qu!«tw October 17, 2000 COUNCIL/RDA MEETING DATE: ITEM TITLE• Transmittal of Treasurer's Report as of August 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 August 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. Respectfully submitted: JoHn M. Falconer; Finance Director Approved for submission by: G Thomas P. Genovese, City Manager Attachment: Treasurer's Report, La Quinta Financing Authority 0() T-af 4 4 Q" MEMORANDUM TO: La Quinta City Council FROM: John M. Falconer, Finance Director/Treasurer SUBJECT: Treasurer's Report for August 31, 2000 DATE: September 25, 2000 Attached is the Treasurer's Report for the month ending August 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 I Sold/Matured Other Ending Change Cash (1) $623,148 (347,263) 275,885 (347,263) LAIF $7,045,921 800,000 (3,000,000) 0 4,845,921 (2,200,000) ,US Treasuries (2) $31,438,391 13,890 31,452,281 13,890 US Gov't Agencies (2) $19,172,508 5,000,000 (5,000,000) (142,145) 19,030,363 (142,145) Commercial Paper (2) $3,995,487 3,000,000 (4,000,000) (21) 2,995,466 (1,000,021) Mutual Funds $4,025,473 2,987,721 (798,580) 6,214,614 2,189,141 'Ti otal $66 300 928 11 787 721 12 798 580 475 539 64 814 530 1 486 398 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. n M. Falconer r ance Director/Treasurer jo - o0 Date Footnote (1) The amount reported in the other column represents the net increase (decrease) of deposits and withdrawals from the previous month. 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V O O-4A O W NA CD V 00 W CO0 O V m NOO V mO C), V V W W Ol 'AfOif S ch COOOa W W Qi CT V A O W mO V wN _A.A0jAOT �j �VOJN NN _N0 W OCT OT WW� 8t0W V O�p apNON01 cn jp -`NAN OS O V W V fJ OOON�O 00CD V 0- - - A Im NN�1 N cc aa N cc Y CT V V N CA V Co C',V 00A Q N !D G NCO V 01 W a ON cn T 00! 41 CA N W O A �N NCD W W O01 CT 01 Ga 0�O W f0 N OOaNN COO p Of 0) w0Ul01 V COw N01�O CT OQA fft CO C COO J a bO'11 CT ON1 _ co co VO�A� O O A 0 Cwq A ONW AN W WO OOI UOiO WCT NNQA A ID A N W0)(DV S V O NCO V COOV I W W s -'N A m U p O� m+ C1 J V m m A O 10 V Cb O_OC In m0 01 O CO W A N NtJI CO V mm C7 w O W cn 'a, @ CO wOSCO GOT --'co —IM U r 10 100 CITY OF LA QUINTA BALANCE SHEET 08/31/00 ASSETS: POOLED CASH LQRP INVESTMENT IN POOLED CASH INVESTMENT T-BILUNOTES & OTHER AUTO MALL CASH LORP CASH BOND REDEMPTION CASH BOND RESERVE CASH BOND PROJECT CASH BOND ESCROW CASH PETTY CASH 1,000.00 1.000.00 CASH& INVESTMENT TOTAL 37,141,859.12 27,594,743.30 594,818.16 65,331,420.58 INVESTMENT IN LAND HELD FOR RESALE ACCOUNTS RECEIVABLE PREMIUM/DISCOUNT ON INVESTMENT LORP-ACCOUNTS RECEIVABLE INTEREST RECEIVABLE LOAN/NOTES RECEIVABLE DUE FROM OTHER AGENCIES DUE FROM OTHER AGENCIES - CVAG CVAG ALLOWANCE 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 50,727.55 50.727.55 RECEIVABLE TOTAL 11,240,943.88 3,331,559.05 8,008,231.93 22,580,734.86 CITY CITY FIXED LONG TERM CITY ASSETS DEBT RDA (8,041,267.01) 11,542,319.85 805.000.00 44,980,000.00 202,126.13 52,967.94 3,788,465.20 11,405,990.31 RDA RDA FA FIXED LONG TERM FINANCING LONG TERM GRAND ASSETS DEBT AUTHORITY DEBT TOTAL (805.14) 3,500,247.70 805,000.00 44,980,000.00 202.126.13 • 52.967.94 28.73 3,788,493.93 595, 594.57 12, 001.584.88 35,280.09 60.900.00 8,010,000.00 8,106,180.09 (491,044.35) (24.077.87) (1,768.07) (516,890.29) 63,642.88 63.642.88 205,763.62 205,763.62 13,930.25 2,678,631.60 2.692.561.85 651,913.19 651,913.19 (651,913.19) (651,913.19) 897,793.48 551,629.04 1,449,422.52 8,497,550.20 8,497,550.20 2,023,594.18 2,023,594.18 2.469.86 2.469.86 833.40 833,40 4,879.00 4,879.00 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 1,386,331.67 15,590,699.00 9,988,279.05 26,965,309.72 ACCUMULATED DEPRECIATION (812,743.27) (812.743.27) AMOUNT AVAILABLE TO RETIRE LIT DEBT 3.395.117.03 3,395,117.03 AMOUNT TO BE PROVIDED FOR UT DEBT 1,645,647.34 94,703,355.40 8,010,000.00 104,359,002.74 TOTAL OTHER ASSETS 573,588.40 15,590,699.00 1,645,647.34 9,988,279.05 98,098,472.43 8,010,000.00 133,906,686.22 TOTAL ASSETS 48,996,203.40 15,590,699.00 1,645,647.34 30,926,302.35 9,986,279.05 98,098,472.43 8,603,050.09 8.010.000.00 221.858.653.66 LIABILITY ACCOUNTS PAYABLE DUE TO OTHER AGENCIES 130,114.56 130,114.56 DUE TO OTHER FUNDS 112,867.29 1,327,250.23 9,305.00 1,449,422.52 INTEREST ADVANCE -DUE TO CITY ACCRUED EXPENSES PAYROLL LIABILITIES STRONG MOTION INSTRUMENTS 4,085.00 4.085.00 FRINGE TOED LIZARD FEES 29.661.50 29.661.50 SUSPENSE 5.194.52 5,194.52 DUE TO THE CITY OF LA QUINTA PAYABLES TOTAL 281,922.87 1,327,250.23 9.305.00 1,618,478.10 ENGINEERING TRUST DEPOSITS SO. COAST AIR QUALITY DEPOSITS ARTS IN PUBLIC PLACES DEPOSITS 436,404.79 436,404.79 LQRP DEPOSITS 15,156.00 15,156.00 DEVELOPER DEPOSITS 1,097,588.39 1,097,588.39 MISC. DEPOSITS 507.854.63 507,854.63 AGENCY FUND DEPOSITS 1,308,367.89 1,308,367.89 TOTAL DEPOSITS 3,350,215.70 15,156.00 3,365,371.70 DEFERRED REVENUE 8,270.67 8.010.000.00 8.018.270.67 OTHER LIABILITIES TOTAL 8.270.67 8,010,000.00 8,018,270.67 COMPENSATED ABSENCES PAYABLE 321.991.94 321,991.94 DUE TO THE CITY OF LA QUINTA 1,323,655.40 10,521,148.18 11,844,803.58 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 1,645,647.34 98,098,472.43 8,010,000.00 107,754,119.77 TOTAL LIABILITY EQUITY•FUND BALANCE TOTAL LIABILITY & EQUITY 3,640,409.24 1,645,647.34 1,342,406.23 98,098,472.43 8,019,305.00 8,010,000.00 120,756,240.24 45,355,794.16 15,590,699.00 29,583,896.12 9,988,279.05 583,745.09 101,102.413.g2� 0U I 48,996,203.40 15,590,699.00 1,645,647.34 30,926,302.35 9,988,279.05 98,098,472.43 8,603,050.09 8.010.000.00 221,858,653.66 010 T4ht 4 4 Q" COUNCIL/RDA MEETING DATE: October 17, 2000 ITEM TITLE• Transmittal of Revenue and Expenditure Report dated August 31, 2000 RECOMMENDATION: Receive and File BACKGROUND AND OVERVIEW: AGENDA CATEGORY: BUSINESS SESSION: CONSENT CALENDAR: 117— STUDY SESSION: PUBLIC HEARING: Transmittal of the August 31, 2000 Statement of Revenue and Expenditures for the La Quinta Financing Authority. Respectfully submitted: hn M. Falconer, Finance Director Approved for Submission by: �f / v T omas P. Genovese City Manager Attachments: 1. Revenue and Expenditures Report, August 31, 2000 Ql' 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 /2000-813112000 REMAINING % BUDGET RECEIVED BUDGET RECEIVED 9,175.00 0.00 9,175.00 0.0% 0.00 0.00 0.00 0.0% 678,955.00 0.00 678,955.00 0.0% 0.00 0.00 0.00 0.0% 688,130.00 0.00 688,130.00 0.0% 0.00 0.00 0.00 0.0% 0.00 6,137.88 (6,137.88) 0.0% 0.00 6,137.88 (6,137.88) 0.0% 688,130.00 6,137.88 681,992.12 0.9% 013 003 LA QUINTA FINANCING AUTHORITY 07/01/2000 - 8/3112000 REMAINING % EXPENDITURE SUMMARY BUDGET XPENDITURES ENCUMBERED BUDGET EXPENDED DEBT SERVICE EXPENDITURES SERVICES 9,175.00 0.00 0.00 9,175.00 0.0% BOND PRINCIPAL 260,000.00 0.00 0.00 260,000.00 0.0% BOND INTEREST 418,955.00 0.00 0.00 418,955.00 0.0% TRANSFER OUT 0.00 0.00 0.00 0.00 0.0% TOTAL DEBT SERVICE 688,130.00 0.00 0.00 688,130.00 0.0% CAPITAL IMPROVEMENT EXPENDITURES TRANSFER OUT 517,732.00 0.00 0.00 517,732.00 0.0% TOTAL CAPITAL IMPROVEMENT 517,732.00 0.00 0.00 517,732.00 0.0% TOTAL FINANCING AUTHORITY 1,205,862.00 0.00 0.00 1,205,862.00 0.00% 0_-.1