HomeMy Public PortalAbout04-05-2005LPFA;~ ,~
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This Agenda contains a brief general description. of each item to be considered. Copies of the Staff
reports or other written documentation relating to each item of business referred to on the Agenda are on
file in the Office of the City Clerk and are available for public inspection. A person who has a question
concerning any of the agenda items may call the City Manager at (390) 603-0220, ext. 200.
Procedures for Addressing the Council
IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO
ADDRESS THE COUNCIL FILL OUT A FORM PROVIDED AT THE DOOR, AND TO TURN IT IN TO
THE CITY CLERK PRIOR TO THE START OF THE MEETING. FAILURE TO FILL OUT SUCH A FORM
WILL PROHIBIT YOU FROM ADDRESSING THE COUNCIL IN THE ABSENCE OF THE UNANIMOUS
CONSENT OF THE COUNCIL.
AGENDA ITEMS ON FILE FOR CONSIDERATION
AT THE REGULAR MEETING OF
THE LYNWOOD PUBLIC FINANCE AUTHORITY
TO BE HELD ON APRIL 5, 2005
5:00 P. M.
COUNCIL CHAMBERS
11330 BULLIS ROAD, LYNWOOD, CA 90262
RAMON RODRIGUEZ
PRESIDENT
MARIA T. SANTILLAN
VICE PRESIDENT
LOUIS BYRD
MEMBER .
INTERIM CHIEF ADMINISTRATIVE OFFICER
JOSEPH WANG
SECRETARY
ANDREA L. HOOPER
OPENING CEREMONIES
1. CALL TO ORDER
2 ROLL CALL OF MEMBERS
Louis Byrd
Fernando Pedroza
Leticia Vasquez
Maria T. Santillan
Ramon Rodriguez
3. CERTIFICATION OF AGENDA POSTING BY SECRETARY
~~ ~
tY ITl' C'F° s:M~`I`'11~'f~Cp~:-
<°: ....
~~ ~ ~.
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_31~ agt.a.o~~l~r~~~~n~l,~.
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~- .~~
FERNANDO PEDROZA
MEMBER
LETICIA VASQUEZ
MEMBER
CITY TREASURER
IRIS PYGATT
1
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PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
PUBLIC ORAL COMMUNICATIONS
IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO SUBSTANTIAL DISCUSSION
OF THE ISSUE BY THE LYNWOOD PUBLIC FINANCE AUTHORITY, BUT IT IS ALL RIGHT
FOR THE LYNWOOD PUBLIC FINANCE AUTHORITY MEMBERS TO REFER THE MATTER TO
THE STAFF OR SCHEDULE SUBSTANTIVE DISCUSSION FOR A FUTURE MEETING.
(The Ralph M. Brown Act, Government Code Section 54950-54962, Part III, Paragraph 5.)
CONSENT CALENDAR
4. MINUTES OF PREVIOUS MEETINGS:
Regular Meeting -March 1, 2005
STATEMENT OF CONDITION OF FUNDS
Comments:
The purpose of this item is to have the President and Board members review the Statement of
Condition of Funds Report for the various agencies (City of Lynwood, Lynwood Redevelopment
Agency, and Lynwood Information, Inc). Each agency's report provides cash balances per bank and
per books, cash balances by fund, the total revenues and expenditures received for the month.
Recommendation:
Staff recommends that the President and Board members of the Lynwood Public Finance
Authority review and file the Statement of Condition of Funds Reports for the City of Lynwood,
Lynwood Redevelopment Agency, and Lynwood Information, Inc.
TREASURER'S QUARTERLY INVESTMENT REPORT
Comments:
The purpose of this item is to have the Honorable President and members of the Lynwood Public
Finance Authority review the Treasurer's Quarterly Investment Report as required by State Statutes.
Recommendation:
The City Treasurer recommends that the Honorable President and members of the Lynwood Public
Finance Authority receive and file the attached quarterly Investment Report for the quarter ending
December 31, 2004.
ADJOURNMENT
THE NEXT REGULARLY SCHEDULED MEETING WILL BE HELD ON APRIL 19, 2005 AT 5:00
P.M., IN THE .COUNCIL CHAMBERS OF THE CITY HALL, 11330 BULLIS ROAD, CITY OF
LYNWOOD, CALIFORNIA.
LYNWOOD PUBLIC FINANCE AUTHORITY
REGULAR.MEETING~
MARCH 1, 2005
The Lynwood Public Finance Authority of the City of Lynwood met in a Regular Meeting at 11330 Bullis Road on the
above date at 6:35 p.m.
President Rodriguez presiding.
Members Byrd, Pedroza, Santillan, Vasquez, and, Rodriguez answered the roll call.
Also present were Interim Chief Administrative Officer Wang, City Attorney Beltran, Secretary Hooper and Treasurer
Pygatt.
Secretary Hooper announced that the Agenda had been posted in accordance with the Brown Act.
PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE
PUBLIC ORAL COMMUNICATIONS
NONE
CONSENT CALENDAR
All matters listed under the Consent Calendar will be acted upon by one motion affirming the action recommended on
the Agenda. There will be no separate discussion on these items prior to voting unless members of the Council or staff
request specific items be removed from the Consent Calendar for separate action.
It was moved by Member Byrd seconded by Member Pedroza to approve the following Minutes and to Receive and
Pile 'Reports.
Item #4: MINUTES OF PREVIOUS MEETINGS.
Regular Meeting, January 18, 2005
ROLL CALL:
AYES: MEMBER BYRD, PEDROZA, SANTILLAN, VASQUEZ AND RODRIGUEZ
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
Item #5: NATIONAL LEAGUE OF CITIES 2005 LEGISLATIVE ADVOCACY AGENDA
Member Vasquez stated she wanted to discuss this item because major programs are being targeted and the City needs
to advocate for these programs in Washington D.C. for the National Convention, to protect our three major funding
sources. The three are Transportation, Community Development Block Grant, and third is the Housing Funding.
From March 10, 2005 through March 14, 2005. The City is going to be working with our Congressional
Representative and Senatorial Representative to fight and to ensure that this funding continues to the City.
It was moved by President Rodriguez seconded by Member Pedroza to receive and file the report
ROLL CALL:
AYES: MEMBER BYRD, PEDROZA, SANTILLAN, VASQUEZ AND RODRIGUEZ
NOES: NONE
ABSTAIN: NONE
ABSENT:. NONE
DISCISSION ITEM
Item #6: REPORT -CALIFORNIA CONTRACT CITIES ASSOCIATION FEBRUARY MEETING.
Member Vasquez stated she asked for this to be put on the Agenda because AGENDA
attending these meetings is so important. During this meeting one of the discussions was ~~
a presentation that was given by the Sheriffs Department on Contract Law Enforcement
Bureau. They updated the information and status report on the County Wide Services
Audit, that was currently being conducted and during the last County Supervisors Board
meeting the Board increased Sheriff contract by 20%. Unfortunately the City has not
- ~ yet paid the 20%. Also, Sheriff_Lee Baca made a commitment to take the County to ___,
Court on the issue to make th;;~ ;:~`unty pay for the additional 20%. The President o'er
" ~ Contact Cities urges every Citj' _<; contact their Board of Supervisors.
Member also stated what the Contract Cities are attempting to do is ask all City
Councils to adopt a Resolution asking the L.A. County Bard of Supervisors to direct the
auditor controller to conduct a complete and comprehensive review of all the aspects of
cost and expenses, that are related to the Sheriffs delivery of services to Contract Cities.
It was moved by Member Vasquez seconded by Member Pedroza to receive
and file the report.
ROLL CALL:
AYES: MEMBER BYRD, PEDROZA, SANTILLAN, VASQUEZ AND RODRIGUEZ
NOES: NDNE
ABSTAIN: NONE _
ABSENT: NONE
ADJOURNMENT
Having no further discussion, it was moved by Member Pedroza, seconded by Vice- President Santillan and carried to
adjourn the Regular Lynwood Public Finance Authority Meeting at 6:42 p.m. In memory of Elizabeth Dixon
Ramon Rodriguez, President
Andrea L. Hooper, Secretary
.~
.--
DATE: April 5, 2005
TO: Honorable President and Members of the Lynwood Public Finance Authority
FROM: Joe Wang, Interim Chief Administrative Officer
BY: Christy Valencia, Deputy Director of Finance '
SUBJECT: Statement of Condition of Funds
Purpose
The purpose of this item is to have the President and Board members review the Statement of
Condition of Funds Report for the various agencies (City of Lynwood, Lynwood Redevelopment
Agency, and Lynwood Information, Inc). Each agency's report provides cash balances per bank
and per books, cash balances by fiind, the total revenues and expenditures received for the month.
Background
The attached reports outline January 2005 financial information for the City of Lynwood,
Lynwood Redevelopment Agency and Lynwood Information, Inc. Each agency's report provides
cash balances per bank and per books, cash balances by fund, the total revenues and expenditures
for the month.
Analysis
Below is a summary of the three agencies' activities for the month of January 2005 (per
reconciliation between general ledger and bank statements):
Agency Beginning Receipts/ Disbursements/ Misc.Balance Ending
Balance Revenues Expenditures Sheet Adj. (;!~ Balance (z)
City of 51,207,784.12 6,719,807.94 -5,210,759.73 905,559.16 53,622,391.49
Lynwood
Lynwood 7,918,913.38 258,930.47 -31,634.29 20,000.00 8,166,209.56
Redevelopment
Agency
Lynwood 192,879.45 840.03 -4,440.27 0.00 189,279.21
Information Inc.
(1) Adjustments include (2) Includes ]-lam Park
refundable dep., journal $31,965,396.32
entries such as fund
transfers, accruals, etc.
AGENDA
ITEM!
The City's total revenue for January per accounting ledger is $6,719,807.94 and the total
- expenditure is $5,210,759.73. The Lynwood Redevelopment Agency's total revenue is
$258,930.47 and total expenditure is $31,634.29. The Lynwood Information Inc.'s total revenue
and expenditure are $840.03 and $4,440.27, respectively.
Discussion
• The"City's-total revenue includes.. general fund for $4,381,172, of which, $3,326,842 is from
• taxes. The total revenue for water fund is $528,337. The report also includes receipts from
special revenue funds~n the amount of $304,166. Also, an inter-fund transfer from various funds
" to the capital improvement fund in the amount of $835,432 is included in the total revenue.
General fund expenditure is $2,164,909, of which, $837,978 is for public safety. The total
expenditure for water fund is $787,539 (includes purchases for resale of $217,630). The total
capital improvement project expenditure is $219,925. Expenditure from special funds totaled
$928,844.
Recomimendation
Staff respectfully recommends that the President and Board members of the Lynwood Public
Finance Authority review and •file the Statement of .Condition of Funds Reports for the City of
• Lynwood, Lynwood Redevelopment Agency, and Lynwood Information, Inc.
": - , .-
CITY OF LYNWOOD
STATEMENT OF CONDITION OF FUNDS
January 31, 2005
CHECKING ACCOUNTS:
• O/S CHECKS
' BEGINNING RECEIPTS/ DISBURSEMENTS DEPOSIT IN ENDING
INSTITUTION BALANCE DEPOSITS CHECKS PAH) TRANSIT BALANCE
US Bank- General 824,324.04 5,383,658.32 (4,376,267.61) .166,933.99 1,998,648.74
US Bank- Payroll
- .10;000.00
-
--- 302,108.46
-------------------- (319,392.30)
---------
- 17,283.84
-- 10,000.00
--------- --------------------------------------
' Total ---------------
--
834,324.04 -
5,685,766.78 -
------------
(4,695,659.91) ------
-------------
184,217.83 --------------------
2,008,648.74.
SAVINGS & MONEY MARKET ACCOU NTS:
US Bank-Municipal Investor (General) 4,888.70 37,784.69 0.00. 0.00 42,673:39
US Bank-Municipal Investor (Sec 108) 147,123.13 883.38 0.00 0.00 148,006.51
US Bank-Municipal Invest. (Sec 108/2003) 5;571,788.61 12,150.98 0.00 0.00 5,583,939:59
Total.. 5,723,800.44 50,819.05 0.00 0.00 5,774,61,9.49
INVESTMENTS:
PURCHASE.. MATURITY INTEREST
' DATE DATE RATE PRINCIPAL
Union Bank, of California* N/A N/A variable 32,082,961.95
LAIF (Local Agency Investment Fund)* N!A N/A variable 13,756,161.31
Total 45,839,123.26
TOTAL AVAILABLE CASH 53,622,391.49
*Amount based on estimate due to statement not yet available.
,__,,
GENERAL
OPERATIONS &
FUND# CAPITAL FUNDS
Ol General Fund
OS CIP
09 Retirement
13 Public Finance Authority
17 Debt Service Fund
25 Business Improvement
38 Special Contingency
45 CIP, Bond Proceeds
TOTAL .
ENTERPRISE FUNDS
BEGINNING
BALANCE
7,278,074.79
(869,957.64)
2,418,249.11
0.00
0.00
76,493.13
192,902.00
(167,352.09)
8,928,409.30
CASH BALANCES BY FUND
RECEIPTS/ DISBURSEMENTS MISC. ENDING
REVENUES EXPENDITURES ADJUSTMENTS BALANCE
4,381,171.76 (2,164,908.52) 277,33527 9,771,673.30
835,432.37 (219,925.03) (79.01) (254,529.31)
220,300.08 (231,324.88) (780.82) 2,406,443.49
6,761.29 (6,761.29) 0.00 0.00
0.00 0.00 0.00 0.00
0.00 0.00 0.00 76,493.13
0.00 0.00 0.00 192,902.00
0.00
------------------- -- 0.00
---------------------- --- 10,000.00
- (157,352.09)
5,443,665.50
(2,622,919.72) ----------------- -
286,475.44 -------------------
12,035,630.52
02 Water Fund 7,854,086.29 528,337.38 (787,539.03) 36,574.99 7,631,459.63
31 Transportation 19,729.00 (1,197.00) (151,159.93) (22.92) (132,650.85)
53 1995 Water Revenue Bond (1,615.90) 0.00 0.00 0.00 (1,615.90)
61 1999 Water Revenue Bond (673,664.02) 0.00 (55,888.06) 587,242.91 (142,309.17)
TOTAL 7,198,535.37 527,140.38 (994,587.02) 623,794.98 7,354,883.71
RESTRICTED STREET FUNDS
03 Traffic Safety (525,884.83) 172,239.97 (155,301.08) (139.98) (509,085.92)
07 Gas Tax 2107 97,565.64 331.76 (125,221.91) 0.00 (27,324.51)
TOTAL (428,319.19) 172,571.73 (280,522.99) (139.98) (536,410.43)
ASSESSMENT FUNDS
04 Street Lighting (119,492.62) 103,420.35 (50,889.49) (10.82) (66,972.58
33 Landscape Maintenance, (375,676.89) 106,916.42 (59,350.10) (55.83) (328,166.40)
T OTAL (495,169.51) 210,336:77 (110,239.59) (66.65) (395,138.98
INTERNAL SERVICE
FUNDS
08 Garage (553,477.02) 2,312.10
'TOTAL (553,477.02) 2,312.10
TRUST AND AGENCY FUNDS
11 Sheriff.Drug Seizure 97,766.84 2,962.77
23 Self-Insurance (2,623,126.24) 56,652.38
40 Payroll 10,000.00 0.00
TOTAL (2,515,359.40) 59,615.15
y
--- --------- ----
(39,651.62) ----------------- -
(26.96) --------------------
(590,843.50)
(39,651.62) (26.96) (590,843.50)
(1,399.30) (1.38) 99,328.93
(232,595.78) (1,214.33) (2,800,283.97)
0.00.
-------- --- 0.00 10,000.00
-
(233,995.08) ----------------- -
(1,215.71) --------------------
(2,690,955.04)
SPECIAL REVENUE
FUND#FUNDS
12
15
18
20
27
28
32
34
39
44
49
50
51
52
54
55
56
57
58
59
60
62
65
66
67
68
69
70 ,
73
72
73
74
75
76
77
78
79
80
81
82
83
Air Quality Improvement
Park Replacement Fund
SB 821
State '['ransp. Partn.
Section 108 Loan
HUD
Prop "A"
HUD ]EIome Program
Anti-Litter
Prop "C"
Surface Trans. Prog. (STP)
LA County Park Bond
At-Risk Youth
Graffiti Prevent.
Local Law Enf.
Cops Prog.-AB 3229
LA Cnty Per Parcel
ISTEA Grant
Beverage Recycling Grant
LA Cnty Pk & Rec
Urban Tree Planting Grant
LA County Park Maint Grant
Brownfield Grant
Dove Grant
AB 2928/Traff Cong Relief
Hwys-Thru-Cities Funds
Used Oil Recycling Grant
Brownfields Clean Up Fund
Lynwood Nature Park/Wtr Bond
Roberti=Zberg-Harris/Bond 2000
Per Capita Grant/Bond 2000
TEA Grant
Safe School Route Grant
State of CA CEC Grant
HUD Section 108/2003
BEDI Grant
Dupont/Lead Safety Grant
State .Homeland Security Grant
Prop 40 Grant
2003 ]Enterprise Revenue Bonds
2003 Lease Revenue Refunding
TOTAL
TOTAL OF ALL FUNDS
BEGINNING RECEIPTS/ DISBURSEMENTS MISC. ENDING
BALANCE REVENUES EXPENDITURES ADJUSTMENTS BALANCE
61,211.16 22,439.57
31,862,206.52 121,046.22
2,682.59 19.57
(2,692.27) 0.00
147,123.13 883.38
(244,076.90) 0.00
533,833.79 75,698.46
(99,825.00) 0.00
3,139.06 11.12
1,817,655.98 67,370.88
(1,020,038.22) 0.00'
0.00 0.00
0.00 0.00
35,904.61 .127.17
66,278.04 259.17
97,656.47 368.60
0.00 0.00
(303.77) 0.00
82,589.92 292.51
0.00 0.00
4,373.78 15.49
251,018.50 558.14
171.87 0.00
(153,339.08) 0.00
81,841.91 299.70
5,914.02 20.95
22,049.92 2,247.46
(2,088.82) 0.00
0.00 0.00
0.00 0.00
(77,361.04) 0.00
0.00 0.00
(29,381.97) 0.00
(4,472.00) 0:00
5,571,788.61 12,150.98
0.00 0.00
100,781.59 356.94
(11,828.14) 0.00
0.00 0.00
(29,649.69) 0.00
0.00 0.00
0.00
(17,856.42)
0.00
0.00
0.00
(351,280.01)
(350.00)
(3,540.00)
0.00
(329,324.25)
0.00
0.00
0.00
.0.00
723.35
(27,809.71)
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
(2,337.25)
0.00
0.00
(621.95)
0.00
0.00
0.00
0.00
(189,370.85)
0.00
0.00
0.00
0.00
0.00
0.00
(7,076.62)
0.00
0.00
0.00
0.00
0.00
0.00
(59.07)
0:00
0.00
0.00
0.00
0.00'
0.00
0.00
0.00
0.00
0.00
0,00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
83,650.73
31,965,396.32
2,702.16
(2,692.27)
148,006.51
(595,415.98)
609,182.25
(103,365.00)
3,150.18
1,555,702.61
(1,020,038.22)
0.00
0.00
36,031.78
67,260.56
70,215.36
0.00
(303.77)
82,882.43
0.00
4,389.27
251,576.64
171.87
(153,339.08)
79,804.36
5,934.97
24,297.38
(2,710.77)
0.00
0.00
(77,361.04)
0.00
(218,752.82)
(4,472.00)
5,583,939.59
0.00
101,138.53
(11,828.14)
0.00
(36,726.31)
0.00
39,073,164.57 304,166.31
51,207,784.12 6,719,807.94
(928,843.71) (59.07) 38,448,428.10 "
------------------ --------------------- --------------------
(5,210,759.73) 908,762.05 53,625,594.38
The total cash balance per books do not
reflect the following entries recorded
on the bank statements for January 31, 2005.
Due to timing, these entries are recorded
' as reconciling items for January 31, 2005.
Prepays 0.00
' Wire Transfers 0.00
Bank Debits (2,852.29)
Bank Credits 0.00
Misc. Adjustment (350.60)
TOTAL (3,202.89)
Total All Funds Cash Balance .53,625,594.38
f Reconciling Items (3,202.89)
t ADJUSTED CASH BALANCE 53,622,391.49
• LYNWOOD REDEVELOPMENT AGENCY
STATEMENT OF CONDITION OF FUNDS
'. January 31, 2005
CHECKING ACCOUNTS:
O/S CHECKS
BEGINNING RECEIPTS/ DISBURSEMENTS. DEPOSIT IN ENDING
Institution: BALANCE DEPOSITS CHECKS PAH) TRANSIT BALANCE
.Bank of America ~ 170,295.16 20,000:00 (48,434.59) 16,800.30 158 660.87
-Banco Popular 983,342.91 215,738.99 0.00 0.00 1,199;081.90
US Bank 795,265.58 30,179.78 0.00 0.00 825,445.36
TOTAL 1,948,903.65 265,918.77 (48,434.59) 16,800.30 2,183,188.13
SAVINGS & MONEY MARKET ACCOUNTS:
Institution:
Bank of America- Savings
137,917.12
0.00 --- -
0.00 -----------------------
0.00 ---------------------
137,917.12
US Bank- Municipal Investor 973,528.07 1,143.80 0.00 0.00 974,671.87
US Bank- Municipal Investor 59,492.67 71.52 0.00 0.00 59,564.19
TOTAL
1,170,937.86
1,215.32 --- --
0.00 ---------------------
0.00 ---------------------
1,172,153.18
INVESTMENTS:
Area "A"/Alameda Redevelopment
PURCHASE MATURITY INTEREST
Institution: DATE DATE RATE PRINCIPAL
LAIF* N/A N/A variable 436,569.34
US Bank- CD N/A N/A variable 3,973,262.12
Redevelopment Total ----------- -- -------------------- --------------------
4,409,831.46
Area "A" Tax Increment
PURCHASE MATURITY WTEREST
Institution: DATE DATE RATE PRINCIPAL
LAIF* N/A N/A variable 316,243.97
Redevelopment Total
316,243.97
Alameda Tax Increment
PURCHASE MATURITY INTEREST
Institution: DATE DATE RATE PRINCIPAL
LAIF*
~
N/A ----------
N/A ---------------------- --
Variable ---------------------- - -------= 4,784.75
US Bank- CD
; N/A N/A Variable 80,008.07
Alameda Tax Total 84,792.82
"TOTAL INVESTMENTS
f 4,810,868.25
TOTAL AVAILABLE. CASH ~ 8,]66,209.56
*Amount based on estimate due to statement not yet available.
CASH BALANCES BY FUND
CAPITAL PROJECT FUNDS:
FUND# DESCRIPTION
12 Area A Redevelopment
18 Area A Bond Proceeds
20 Area A Bond Proc-Taxable
22 Alameda Redevelopment
26 Area A L/M Housing
28 Alameda L/M Housing
TOTAL
TAX INCREMENT FUNDS:
14 Area A 1'ax Increment
24 Alameda Tax Increment
----------- -----------------------------------
TOTAL
TOTAL OF ALL FUNDS
BEGINNING
BALANCE
73,061.51
626,855.81
731,32.2.89
(8,259.20)
3,177,095.37
1,089,512.93
5,689,589.31
RECEIPTS! DISBURSEMENTS MISC. ENDING
REVENUES EXPENDITURES ADJUSTMENTS BALANCE
--------------------
303.18 ------------------------
(]8,642.15) ------------------------ -
20,000.00 ------------------
74,722.54
594.07 0.00 0.00 627,449.88
5,074.68 0.00 0.00 736,397.57
0.00 (12,992.14) 0.00 (21,251.34)
3,712.99 0.00 0.00 3,1$0,808.36
2,215.65
-------------------- 0.00
------------------------ - 0.00
- 1,091,728.58
11,900.57
(31,634.29) ---------------------- -
20,000.00 --------------------
5,689,855.59
----------------- ----
1,300,952.95 ------------------- ----
214,372.92 --------------------
0.00
928,371.12 32,656.98 0.00
----------------- ----
2,229,324.07 -------------------- ----
247,029.90 --------------------
0.00
----------------- ----
7,918,913.38 -------------------- ----
258,930.47 --------------------
(31,634:29)
The total cash balance per books do not
reflect the following entries recorded
on the bank statements for January 31, 2005.
Due to timing, these entries are recorded
as reconciling items for January 31, 2005.
Prepays 0.00
Bank Debits 0.00
Banlc Credits 0.00
Misc. Adjustment 0.00
----------------------- ------------------------ -------
TOTAL -----------------
0.00
Total Cash Balance 8,166,209.56
Reconciling Items
----------------------- ----------------------- ------ 0.00
-----------------
ADJUSTED CASH BALANCE 8,166,209.56
0.00 1,515,325.87
0.00 961,028.10
0.00 2,476,353:97
20,000.00 8,166,209.56
------------- ---------------------
.CHECKING ACCOUNTS:
_,~ „~--
LYNWOOD INFORMATION INC.
STATEMENT OF CONDITION OF FUNDS
January 31, 2005
. O/S CHECKS
BEGINNING RECEH'TS/ DISBURSEMENTS DEPOSIT IN ENDWG .
Institution: BALANCE DEPOSITS CHECKS PAID TRANSIT BALANCE
US BANK 50,296.29 0.00 (6,910.86) 2,470.59 45,856.02
SAVINGS & MONEY MARKETACCOUNTS:
Institution:
-
=
----------- ---------------------------- -
US BANK- Municipal Investor ---------
------------- -
142,583.16 --------
------------
840.03 ----------------------- -
0.00 ----------------------- -
0.00 -----------------------
143,423.19
TOTAL AVA[LABLE CASH 189,279.21
GENERAL
FUND# .OPERATIONS
Ol General Fund
TOTAL OF ALL FUNDS
i
i
CASH BALANCES BY FUND
BEGINNING RECEII'TS/ DISBURSEMENTS MISC. ENDING
BALANCE REVENUES EXPENDITURES ADJUSTMENTS BALANCE
192,879.45 840.03 (4,440.27) 0.00 189,279.21
192,879.45 840.03 (4,440.27) 0.00 ] 89,279.21
The total cash balance per books do not
reflect the following entries recorded
on the bank statements for January 31, 2005.
Due to timing, these entries are recorded
as reconciling items for January 31, 2005.
Prepays 0.00
Bank Debits 0.00
Bank Credits 0.00
Misc. Adjustment 0.00
----------------------- ---------------------- -------- ----------------
0.00
Total Cash Balance 189,279.21
Reconciling Items 0.00
ADJUSTED CASH BALANCE 189,279.21
DATE: April 5, 2005
TO: ~ THE HONORABLE PRESIDENT AND MEMBERS OF THE LYNWOOD PUBLIC
FINANCE AUTHORITY
FROM: Iris Pygatt, City Treasurer
'c
" ~ SUBJECT: TREASURER'S QUARTERLY INVESTMENT REPORT
PURPOSE:
The purpose of this item is to have the Lynwood Public Finance Authority review the Treasurer's
Quarterly Investment Report"as required by recently enacted State Statutes.
BACKGROUND:
" ~ In response to the crisis caused by the Orange County investment pool, the State Legislature in
1995 enacted S8564 and S8866. These laws were enacted as State Statutes to impose certain
mandates regarding investment with public funds. The statutes have imposed the following
mandates:
' 1. Annual adoption of an Investment Policy that incorporates changes mandated by the
State.
2. Quarterly Investment Reports presented to the Legislative Body or Board Members.
3. Restriction on the use of certain investment instruments.
The ;attached Treasurer's Report has been prepared to provide the following information:
1. Types of investments (including principal, market value rates, and maturity dates).
' 2. List of various bank accounts with banking institutions.
3. Statement informing each Agency (City, LRA, LPFA and LII) that is expected to have
sufficient liquid funds to meet its pooled expenditure requirements for the next six (6)
months.
4. Statement informing the Lynwood Public Finance Authority that the investment
portfolio conforms with the adopted investment policy.
RECOMMENDATION:
The City Treasurer respectfully recommends that the Lynwood Public Finance Authority
and file the attached Quarterly Investment Report for the quarter ending December 31, ;
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