HomeMy WebLinkAboutB- 8 Staff Report Public Financing Treasurer's Report
CONSENT ITEM
TO: THE HONORABLE CHAIRMAN AND MEMBERS OF THE BOARD
FROM: URIEL E. MACIAS, AZUSA PUBLIC FINANCING AUTHORITY TREASURER
DATE: APRIL 21, 2003
SUBJECT: AZUSA PUBLIC FINANCING AUTHORITY TREASURER’S STATEMENT OF CASH BALANCES
FOR THE QUARTER ENDED MARCH 31, 2003
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 March 31, 2003.
BACKGROUND
Transmitted herewith is the Treasurer's Report for the Azusa Public Financing Authority for quarter
ending March 31, 2003. 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 March 31, 2003, fiscal agents held total investments costing $3,302,266.64 with a
market value of $3,956,273.47. Net interest collections for the quarter were $87,725.75, and other
revenues totaled $596,439.03. Disbursements of $777,210.79 were made during this period primarily for
debt service payments, resulting in an overall net decrease of $93,046.01 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