HomeMy WebLinkAboutB- 7 Staff Report Treasurer Report AgencyCONSENT CALENDAR
TO: HONORABLE CHAIRMAN AND MEMBERS OF THE BOARD
FROM: URIEL E. MACIAS, REDEVELOPMENT AGENCY TREASURER
DATE: JUNE 16, 2003
SUBJECT: CITY OF AZUSA REDEVELOPMENT AGENCY TREASURER’S STATEMENT OF CASH
BALANCES FOR THE MONTH OF MAY 2003
RECOMMENDATION
It is recommended that the Board Members receive and file the Agency Treasurer's Statement of Cash
Balances for the Azusa Redevelopment Agency for the month of May 2003.
BACKGROUND
Transmitted herewith is the Agency Treasurer's Statement of Cash Balances for the Azusa
Redevelopment Agency for the month of May 2003. Agency investments are made in accordance with
the Redevelopment Agency Investment Policy approved and adopted with Resolution No. 02-R25 dated
September 16, 2002, and Government Code Section 53601.
In May, Redevelopment Agency cash and investment balances increased by $748,724.14. Cash received
during the month totaled $748,724.14, and no disbursements were made. The City advanced $93,168.40
to the Agency in May.
The Redevelopment Agency is the issuer of the 1994 and 1997 Merged Project Tax Allocation Bonds. Of
the total cash and investments of $6,889,682.91, U.S. and Wells Fargo Banks, the fiscal agents, held
$1,419,845.09 on behalf of the Agency. These funds are restricted for payment of debt service on the
bonds. The remaining $5,469,837.82 was available for Agency operating and debt service expenses.
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