HomeMy WebLinkAbout101-Treasurer’s Report for the Month Ended January 31, 2011 .pdf
SARATOGA CITY COUNCIL MEETING DATE: March 2, 2011 AGENDA ITEM: DEPARTMENT: Finance & Administrative Services CITY MANAGER: Dave Anderson PREPARED BY: Ann Xu, Accountant DEPT HEAD: Mary
Furey SUBJECT: Treasurer’s Report for the Month Ended January 31, 2011 RECOMMENDED ACTION Review and accept the Treasurer’s Report for the month ended January 31, 2011. REPORT SUMMARY
California government code section 41004 requires that the City Treasurer (the Municipal Code of the City of Saratoga, Article 2-20, Section 2-20.035, designates the City Manager as
the City Treasurer) submit to the City Clerk and the legislative body a written report and accounting of all receipts, disbursements, and fund balances. Section 41004. Regularly, at
least once each month, the City Treasurer shall submit to the City Clerk a written report and accounting of all receipts, disbursements, and fund balances. He shall file a copy with
the legislative body. The following attachments provide various financial transaction data for the City of Saratoga’s Funds collectively as well as specifically for the City’s General
(Operating) Fund, including an attachment from the State Treasurer’s Office of Quarterly LAIF rates from the 1st Quarter of 1977 to present. FISCAL IMPACT Cash and Investments Balance
by Fund As of January 31, 2011, the City had $141,835 in cash deposit at Comerica bank, and $12,832,225 on deposit with LAIF. Council Policy on operating reserve funds, adopted on April
20, 1994, states that: for cash flow purposes, to avoid occurrence of dry period financing, pooled cash from all funds should not be allowed to fall below $2,000,000. The total pooled
cash balance as of January 31, 2011 is $12,974,060 and exceeds the minimum limit required. Unrestricted Cash Comerica Bank $ 141,835 Deposit with LAIF $ 12,832,225 Total Unrestricted
Cash $ 1 2,974,060 Cash Summary
The Fund Balance schedule presented on the following page represents actual funding available for all funds at the end of the monthly period. This amount differs from the above Cash
Summary schedule as assets and liabilities are components of the fund balance. As illustrated in the summary below, Total Unrestricted Cash is adjusted by the addition of Total Assets
less the amount of Total Liabilities to arrive at the Ending Fund Balance – which represents the actual amount of funds available. CONSEQUENCES OF NOT FOLLOWING RECOMMENDED ACTION The
City would not be in compliance with Government Code Section 41004. ALTERNATIVE ACTION N/A FOLLOW UP ACTION N/A ADVERTISING, NOTICING AND PUBLIC CONTACT N/A ATTACHMENTS A – Change in
Total Fund Balances by Fund B – Change in Total Fund Balances by CIP Project C – Local Agency Investment Fund (LAIF) Quarterly Apportionment Rates Total Unrestricted Cash $ 12,974,060
Plus: Assets 723,417 Less: Liabilities (1,170,901) Ending Fund Balance $ 1 2,526,576 Adjusting Cash to Ending Fund Balance
ATTACHMENT A CHANGES IN TOTAL FUND BALANCE Fund Description Fund Balance 7/1/10 Increase/(Decrease) Jul-Dec Current Revenue Current Expenditure Transfers Fund Balance 1/31/11 General
Undesignated Unreserved Balance 1,284,366 16,340 530,014 1,834,305 106,000 4 31,015 Reserved Fund Balance: Petty Cash Reserve 1,300 ----1 ,300 Designated Fund Balances: Designated for
Operations 2,889,077 ----2 ,889,077 Designated Economic Uncertainty 1,500,000 ----1 ,500,000 Designated for Development 632,380 (210,000) ---4 22,380 Designated for Environmental 563,182
(50,000) ---5 13,182 Designated for Uncollected Deposits 44,791 ----4 4,791 Designated for Hillside Reserve 300,000 ---(50,000) 2 50,000 Designated for Capital Project Reserve 126,983
-(126,983) -Designated for CIP Matching Grant 600,000 ---(600,000) -Designated for Carryforward 68,600 (68,600) ----Special Revenue Landscape/Lighting Districts 440,391 (79,972) 151,743
6 7,227 -4 44,936 CDBG Federal Grants (9,621) -138,452 --1 28,831 SHARP Loan 210,034 345 ---2 10,379 Capital Project Street Projects 2,169,661 (444,360) 16,924 5 7,600 326,983 2 ,011,608
Park and Trail Projects 653,881 (94,876) -2 ,547 150,000 7 06,458 Facility Improvement Projects 525,256 (167,405) 6,066 6,158 751,360 1 ,109,118 Administrative Projects 224,773 (54,263)
-3 ,330 -1 67,181 Tree Fine Fund 16,985 (3,150) -1 ,288 25,000 37,547 CIP Grant Fund -Street Repair (118,073) (251,733) 53,931 4 0,914 -(356,789) CIP Grant Fund -Park & Trail (46,013)
(247,310) -1 0,052 -(303,376) Gas Tax Fund 279,470 246,779 -3 7,247 (106,000) 3 83,002 Debt Service Library Bond 892,593 (680,112) 494,100 3 27,253 -3 79,328 Internal Service Fund Liability/Risk
Management 244,562 (156,952) 75,394 2 0,052 (50,000) 92,950 Workers Compensation 198,592 15,331 56,633 1,408 (25,000) 2 44,148 Office Stores Fund 26,830 (4,763) 8,365 7 84 -29,648 Information
Technology Services 213,940 1,452 100,000 2 8,083 -2 87,308 Equipment Maintenance 54,258 12,567 50,000 2 8,261 -88,564 Building Maintenance 202,570 38,277 181,437 8 1,128 -3 41,155 Equipment
Replacement 236,229 50,000 25,000 3,277 (25,000) 2 82,951 Technology Replacement 186,686 15,694 12,500 87 (25,000) 1 89,792 Trust/Agency Library Fund 351,360 ---(351,360) -KSAR -Community
Access TV 109,842 (109,748) ---95 Total City 15,074,884 ( 2,226,461) 1,900,558 2,551,003 -12,526,576
ATTACHMENT B FUND BALANCES BY CIP PROJECT CIP Funds/Projects Fund Balance 7/1/10 Increase/(Decrease) Jul-Dec Current Revenue Current Expenditure Transfers Fund Balance 1/31/11 Street
Projects Traffic Safety 168,497 (54,105) -7,894 106,499 Highway 9 Safety Project 50,008 58,213 -5,113 103,107 Annual Street Resurfacing Project 529,434 (225,049) 16,924 29,416 -291,893
Sidewalks Annual Project 87,092 ---87,092 Saratoga Sunnyvale Road Resurfacing 99,011 (1,020) -( 1,020) -99,011 Traffic Signal @Verde Vista Lane 90,000 ---90,000 Fourth Street Bridge
100,000 ---100,000 Quito Road Bridge Replacement Design 9,730 ---9,730 Quito Road Bridge Construction 214,470 ---214,470 Village Façade Program 978 ---978 Solar Power Radar Feedback
Signs 24,158 ---24,158 El Quito Area Curb Replacement 37,553 ---37,553 Sobey Road Culvert Repair 50,000 (31,994) --18,006 Annual Storm Drain Upgrade 53,883 (14,178) --39,704 Village
Trees & Lights at Sidestreets 25,336 (25,336) ---Prospect Road Median 51,663 (972) --(50,000) 691 City Entrance Sign/Monument 23,788 ---(5,000) 18,788 Padero Erosion Mitigation ----50,000
50,000 Monte Vista Storm Drain -(62,449) -1,382 75,000 11,169 Canyon View/Elva Drain ----35,000 35,000 Village-Streetscape Impv 549,952 (14,838) -14,815 221,983 742,282 Saratoga-Sunnyvale/Gateway
Sidewalk 4,107 (72,631) --(68,524) Total Street Projects 2,169,661 (444,360) 16,924 57,600 326,983 2,011,608 Parks & Trails Hakone Garden Koi Pond 15,600 ---15,600 EL Quito Park Improvements
27,571 --47 27,524 Historical Park Landscape 50,588 (50,597) -2,500 (2,509) Hakone Garden Retaining Wall & D/W 142,829 ---142,829 Hakone Garden Upper Moon House 125,000 ---125,000 West
Valley Soccer Field (8,201) ---(8,201) Park/Trail Repairs 23,762 (765) --22,998 Playground Safety Equipment ----50,000 50,000 Blaney Plaza Improvements -(18,473) --25,000 6,527 Ravenswood
Playground Improvement -(42) --75,000 74,958 Tank Trail Repair 26,731 (25,000) --1,731 Mid Pen O/S Land Purchase 250,000 ---250,000 Total Parks & Trails 653,881 (94,876) -2,547 150,000
706,458 Facility Improvements Facility Projects 81,070 (4,197) --160,000 236,873 Civic Center Improvement 20 ----20 Theater Improvement 71,472 8,883 6,066 220 86,201 Senior Center Minor
Building Improvement 1,050 (1,050) ---Senior Center Furniture & Fixture -(17,631) -5,938 (23,569) Portable Building Gutters 2,460 (2,460) ---North Campus Improvements 3,920 (21,938)
--175,000 156,982 HVAC System Upgrade 117,949 (117,016) --932 Corp Yard Solar Project 93,250 ---93,250 Vehicle Structure Solar 125,000 ---125,000 Library Improvement 15,000 (2,684) --351,360
363,676 SPCC Furniture & Fixture 4,065 (3,746) --318 Electric Charging Station ----65,000 65,000 McWilliams House Improvement 10,000 (5,565) --4,435 Total Facility Improvements 525,256
(167,405) 6,066 6,158 751,360 1,109,118 Administrative Projects Financial System Upgrade 3,534 ---3,534 Document Imaging Project 85,183 ---85,183 CDD Document Imaging Project 31,989
--671 31,318 CMO Document Imaging Project 8,887 (608) -2,658 5,621 Telecommunication System 55,000 (53,655) --1,345 IT Emergency Power Back 40,180 ---40,180 Total Administrative Projects
224,773 (54,263) -3,330 -167,181 Tree Fine Fund Tree Fine Fund 16,985 (3,150) -1,288 25,000 37,547 CIP Fund -Street Repair CIP Grant Fund (118,073) (251,733) 53,931 40,914 (356,789)
CIP Fund -Park & Trail CIP Grant Fund (46,013) (247,310) -10,052 (303,376) Gas Fund Gas Tax Fund 279,470 246,779 -37,247 (106,000) 383,002 Total CIP Funds 3,687,624 (1,016,318) 76,921
159,136 1,147,343 3,754,749
ATTACHMENT C