IMPROVEMENT AUTHORITY MEETING DATE: 10/06/2026
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consider the August 2026 Cash Balances/Monthly Treasurer’s Report for the City’s Joint Powers Improvement Authority.
RECOMMENDED IMPROVEMENT AUTHORITY ACTION:
(1) Receive and file the August 2026 Cash Balances/Monthly Treasurer’s Report for the City’s Joint Powers Improvement Authority.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Jane Lin, Senior Accountant
REVIEWED BY: Vina Ramos, Director of Finance VR
APPROVED BY: Ara Mihranian, AICP, Chief Administrative Officer ATTACHED SUPPORTING DOCUMENTS:
A. Monthly Treasurer’s Report for August 2026 (page A-1) BACKGROUND:
This monthly report summarizes the cash balance and investments for the month of August 2026 for the Joint Powers Improvement Authority (Improvement Authority), which includes the Abalone Cove Permanent Fund and the Portuguese Bend Special Revenue Fund. A separate report is prepared each month for the City’s General Fund, Capital Infrastructure Program Fund, Special Revenue Funds, and Other Funds (see separate agenda report on this evening’s Consent Calendar).
DISCUSSION:
Summary of Cash and Investments by Fund
At the end of August 31, 2026, the cash balance of the Abalone Cove Permanent Fund decreased by $14, bringing the balance to $1,211,549. The decrease was due to a disbursement to Southern California Edison (SCE) for utility bills. This amount is 1 CITYOF RANCHO PALOS VERDES
:?L
invested in the Local Agency Investment Fund (LAIF) with an average interest rate of approximately 3.8%.
Similarly, the cash balance of the Portuguese Bend Special Revenue Fund remained the same at $132,974.
CONCLUSION:
Staff recommend that the Improvement Authority receive and file the Treasurer’s Report ending August 2026 for the City’s Joint Powers Improvement Authority.
ALTERNATIVES:
In addition to staff’s recommendation, the following alternative action is available for the Improvement Authority’s consideration:
1. Take other action, as deemed appropriate.
2 A-1
Investment
Local Agency Investment
Fund - IA
Local Agency Investment
Fund - RDA
NOTE (1)
RANCHO PALOS VERDES IMPROVEMENT AUTHORITY
AUGUST 2026 TREASURER REPORT
Issuer of
Investment
State of CA
State of CA
Acquisition
Date
N/A
N/A
Maturity Market
Date Value
On Demand $ 1,326,444
On Demand $ 2,341
NOTE (2)
Sub-Total Investment:
Book Current
Value Yield
$ 1,326,444 3.86%
$ 2,341 3.86%
$ 1,328,785
YTD Transfers to City's Operating Account (BOW) N/A N/A $ 15,738 Total Investment: $ 1,344,524
Total Investment Weighted Average Return 3.86%
OPERATING
EXPENSES/
NOTE (3) LAIF-RDA LAIF-IA TOTAL CASH RECEIVED
BEGINNING BALANCE 2,341.33 1,304,443.86 1,306,785.19
YTD TRANSFERS TO BOW 37,752.39 37,752.39
PLUS: DEPOSITS 0.00
PLUS: INTEREST EARNINGS* 0.00
LESS:CURRENT CHECKS (14.04) (14.04)
ADJUSTMENTS 0.00
PLUS:TRANSFERS IN 22,000.00 22,000.00
LESS: TRANSFERS OUT (22 ,000.00) (22,000.00)
ENDING BALANCE 15,738.35 2,341.33 1 , 326,443.86 1,344,523.54 0.00 *All interest (LAIF) is paid quarterly.
% Change of
Change In Cash Balance
BALANCE ENDING Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month-End IA-ABALONE COVE MAINT 1,211,563.46 0.00 14.04 1,21 1,549.42 (14.04) 0% IA - PORTUGUESE BEND MAINT 132,974. 12 0.00 0.00 132,974.12 0.00 0% 1,344,537.58 0.00 14.04 1,344,523.54 (14.04) 0%
Total Investment: 1,344,523.54
NOTE (1): Includes only the portion attributable to the Improvement Authority. Improvement Authority monies are combined with Redevelopment Agency monies in this LAIF account.
NOTE (2): LAIF market values will be reported to vary from book value if the Authority calculated share of total LAIF assets is less than the Authority book value.
NOTE (3): Improvement Authority does not have an operating account; the expenses are paid from the City's operating account and allocated accordingly to the Improvement Authority's cash funds .
To the best of my knowledge, there are no misstatements of material amounts within this report; or omissions of material amounts to cause the report to be misleading .
I certify that this report accurately reflects all Improvement Authority investments and complies with the investment policy of the Improvement Authority as approved by the governing board . Furthermore, I certify that sufficient investment liquidity and anticipated revenues are available to meet the Authority's expenditure requirements for the next six months.
Respectfully submitted ,
Treasu~ r~