HomeMy WebLinkAboutVIII- B Public Financing Authority Treasurer
AGENDA ITEM
TO: THE HONORABLE CHAIRMAN AND MEMBERS OF THE BOARD
FROM: URIEL E. MACIAS, AZUSA PUBLIC FINANCING AUTHORITY TREASURER
DATE: JANUARY 21, 2003
SUBJECT: AZUSA PUBLIC FINANCING AUTHORITY TREASURER=S STATEMENT OF CASH
BALANCES FOR THE QUARTER ENDED DECEMBER 31, 2002
RECOMMENDATION
It is recommended that the Board Members receive and file the Azusa Public Financing Authority
Treasurer's Statement of Cash Balances for the quarter ended December 31, 2002.
BACKGROUND
Transmitted herewith is the Treasurer's Report for the Azusa Public Financing Authority for quarter
ending December 31, 2002. Authority investments are made in accordance with the Authority Investment
Policy adopted and approved with Resolution No. 02-P2 dated September 16, 2002, and Government
Code Section 53601.
The Azusa Public Financing Authority is the issuer of several bond issues-the 1993 Water Revenue Bonds,
the 1994 Capital Improvement Project Refinancing Certificates of Participation, and the 1994 Sewer
System Project Refinancing Certificates of Participation. These funds are restricted for payment of debt
service on the bonds, and are held and invested by various fiscal agents who are trustees for the bonds.
For quarter ending December 31, 2002, fiscal agents held total investments costing $3,395,312.65 with a
market value of $4,053,548.22. Net interest collections for the quarter, including payment of accrued
interest on U.S. Treasuries, were $3,413.57, and other revenues totaled $404,100.00. No disbursements
were made during this period, resulting in an overall net increase of $407,513.57 for the quarter.
FISCAL IMPACT
The balance of cash and investments and projected revenues for the next six months are expected to be
sufficient to meet cash disbursement requirements for at least the next six months.
Prepared by: Roseanna J. Jara, Sr. Acct.-Redevelopment
UEM:RJJ/cs