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HomeMy WebLinkAboutAPRIL 2001 INVESTMENT AND FINANCE COMMITTEE lI � CITY DE PEAT DESERT , •6 73-510 FRED WARING DRIVE 111 PALM DESERT, CALIFORNIA 92 260-2 5 78 VtilitI a TEL: 760 346-0611 •.4Z s 1v.»'•: FAX: 760 341-6372 info@palm-desert.org NOTICE OF ADJOURNED MEETING OF THE INVESTMENT AND FINANCE COMMITTEE NOTICE IS HEREBY GIVEN that the Investment and Finance Committee adjourned its regular meeting of April 25, 2001, at 12:00 p.m. in the North Wing Conference Room at the Palm Desert Civic Center, 73-510 Fred Waring Drive, Palm Desert, California. Its next regularly scheduled meeting is Wednesday,May 16, 2001. DEB BRADLEY, RECORDING SEC Y CITY OF PALM DESERT, CALIFORN April 19,2001 Date of Posting: April 19,2001 CO IAn114 aM etaam Ilrle Agenda INVESTMENT & FINANCE COMMITTEE Wednesday, April 25, 2001 - 12:00 (Noon) North Wing Conference Room CALL TO ORDER II. ROLL CALL III. APPROVAL OF MINUTES - March 21, 2001 Rec: Approve minutes of the regular meeting of March 21, 2001, as submitted Action: IV. ORAL COMMUNICATIONS A. Any person wishing to discuss any item not otherwise on the agenda may address the Investment & Finance Committee at this point by giving his or her name and address for the record. Remarks shall be limited to a maximum of five minutes unless additional time is authorized by the Chairman. B. This is the time and place for any person who wishes to comment on non-hearing agenda items. It should be noted that at the Investment & Finance Committee's discretion,these comments may be deferred until such time on the agenda, as the item is discussed. Remarks shall be limited to a maximum of five minutes unless additional time is authorized by the Chairman. V. OLD BUSINESS A. Status of Public and Private Partnerships Background Checks Rec: Status Report Action: B. Bond Issuance by Palm Desert Financing Authority Rec: Status Report on issuing new bonds Action: AGENDA - INVESTMENT & FINANCE COMMITTEE April 25, 2001 Page 2 VI. NEW BUSINESS A. City and Redevelopment Agency Investment Schedules and Summary of Cash Reports for March 2001 Rec: Review and submit to the next City Council agenda. Review the presentation on the investment graphs. Review the investment activity for March 2001. Review status of capital projects and cash-flow projections. Action: B. Review Short Term Investments Maturing in April 2001 Rec: Review investments in 1) collateralized deposits; 2) treasury bonds and notes; and, 3) agencies discount notes Action: C. State of California Local Agency Investment Fund Monthly Report for February 2001 Rec: Informational item for the Committee to review. No action required. D. City and Redevelopment Agency Monthly Financial Reports for City Council for March 2001 Rec: Report and submit to City Council Action: E. Parkview Professional Office Buildings - Financial Report for March 2001 Rec: Review and file report Action: F. Desert Willow Golf Resort Financial Information for February 2001 Rec: Review and file report Action: G. Palm Desert Recreation Facilities Corporation Income Analysis for February 2001 Rec: Review and file report Action: AGENDA - INVESTMENT & FINANCE COMMITTEE April 25, 2001 Page 3 VII. REPORTS AND REMARKS VIII. INFORMATIONAL ITEMS IX. NEXT MEETING - Wednesday, May 16, 2001, at 12:00 noon X. ADJOURNMENT I hereby certify under penalty of perjury under the laws of the State of California, that the foregoing agenda for the Palm Desert Investment and Finance Committee was posted on the City Hall bulletin board not less than 72 hours prior to the meeting. Dated this April 18, 2001. D Bradley, Recording Secr STATE OF CALIFORNIA PHILIP ANGELIDES, Treasurer OFFICE OF THE TREASURER �Lo a *; SACRAMENTO A -1' Local Agency Investment Fund ;:•: PO Box 942809 S Sacramento,CA 94209-0001 (916) 653-3001 February,2001 Statement PALM DESERT REDEVELOPMENT AGENCY Account Number : 65-33-015 Attn: TREASURER 73-510 FRED WARING DRIVE PALM DESERT CA 92260 Account Summary Total Deposit : 0.00 Beginning Balance : 29,039,374.52 Total Withdrawal : 0.00 Ending Balance : 29,039,374.52 Page : 1 of 1 STATE OF CALIFORNIA PHILIP ANGELIDES, Treasurer OFFICE OF THE TREASURER 41111t5• SACRAMENTO 1(f Local Agency Investment Fund — PO Box 942809 12: 5 Sacramento, CA 94209-0001 (916)653-3001 February,2001 Statement CITY OF PALM DESERT Account Number : 98-33-621 Attn: CITY TREASURER 73510 FRED WARING DRIVE PALM DESERT CA 92260 Account Summary Total Deposit : 0.00 Beginning Balance : 29,952,617.86 Total Withdrawal : 0.00 Ending Balance : 29,952,617.86 Page : 1 of 1 PalmDesert Recreation Facilities Corporation Income Statement , Feb-01 Feb-01 Budget Actual Variance Variance Food & Beverage Revenues $156,000 $147,874 ($8,126) 94.79% Total Revenues $156,000 $147,874 ($8,126) 94.79% Salaries $60,325 $58,396 $1,929 96.80%a Cost of Goods Sold-F&B $49,499 $46,397 $3,102 93.73% Food &Beverage Expense $19,642 $27,695 ($8,053) 141.00% Total Expenses $129,466 $132,488 ($3,022) 102.33% Net Income (Loss) $26,534 $15,386 $11,148 57.99% Note: The above revenues and expenditures are also included in the Desert Willow analysis. Dw2001;PDRFC Budget Page 1 J - i City of Palm Desert Desert Willow Budget Vs Actual For the month of February 2001 Budgeted Actual Budgeted Actual February February $ Percentage Year to Year to $ Percentage Revenue 2001 2001 Variance Variance Date Date Variance Variance Course&Ground $ 735,200 $ 618,360 $ (116,840) 84.11% $ 3,031,061 $ 2,626,271 $ (404,790) 86.65% Carts $ 43,125 $ 37,540 $ (5,585) 87.05% $ 204,435 $ 196,903 $ (7,532) 96.32% Golf Shop $ 116,310 $ 102,415 $ (13,895) 88.05% $ 581,665 $ 533,975 $ (47,690) 91.80% Range $ 1,200 $ 2,437 $ 1,237 203.08% $ 28,240 $ 10,533 $ (17,707) 37.30% Food&Beverage $ 156,000 $ 147,874 $ (8,126) 94.79% $ 880,400 $ 743,174 $ (137,226) 84.41% Interest Income $ 1,500 $ 888 $ (612) 59.20% $ 12,000 $ 14,120 $ 2,120 117.67% Total Revenues $ 1 053 335 $ 909 514 $ 143 821 86.35% 4 737 801 $ 4 124 976 $ 6 2 825 87.07V Payroll Proshop $ 10,910 $ 8,837 $ 2,073 81.00% $ 79,995 $ 75,817 $ 4,178 94.78% Cart $ 33,353 $ 25,922 $ 7,431 77.72% $ 183,449 $ 158,797 $ 24,652 86.56% Course&Ground $ 113,149 $ 110,488 $ 2,661 97.65% $ 946,188 $ 905,635 $ 40,553 95.71% Golf Operations $ 21,079 $ 18,402 $ 2,677 87.30% $ 144,666 $ 154,101 $ (9,435) 106.52% General&Administration $ 41,527 $ 37,087 $ 4,440 89.31% $ 313,355 $ 288,317 $ 25,038 92.01% Desert Willow Golf Academy $ 22,073 $ 21,879 $ 194 99.12% $ 51,410 $ 92,768 $ (41,358) 180.45% Food&Beverage $ 60,325 $ 58,396 $ 1,929 96.80% $ 412,407 $ 439,047 $ (26,640) 106.46% Total Pa roll $ 302 416 281 01 21 405 92.92% 2 131 470 S 2 114 482 6 988 99.20°/ Other Expenditures Perimeter Landscaping $ 1,208 $ - $ 1,208 0.00% $ 9,664 $ - $ 9,664 0.00% Proshop $ 11,636 $ 27,680 $ (16,044) 237.88% $ 46,645 $ 58,541 $ (11,896) 125.50% Proshop-COGS $ 58,740 $ 61,372 $ (2,632) 104.48% $ 254,430 $ 293,145 $ (38,715) 115.22% Cart $ 26,374 $ 21,675 $ 4,699 82.18% $ 141,434 $ 149,066 $ (7,632) 105.40% Course&Ground-North Course $ 35,269 $ 37,429 $ (2,160) 106.12% $ 528,373 $ 441,691 $ 86,682 83.59% Course&Ground-South Course $ 38,293 $ 29,132 $ 9,161 76.08% $ 507,932 $ 357,864 $ 150,068 70.46% Course&Ground-Desert Pallet-N $ 2,150 $ 2,111 $ 39 98.19% $ 17,250 $ 12,774 $ 4,476 74.05% Course&Ground-Desert Pallet-S $ 667 $ 2,356 S (1,689) 353.22% $ 15,342 $ 15,077 $ 265 98.27% Golf Operations $ 504 $ 143 $ 361 28.37% $ 18,314 $ 13,105 $ 5,209 71.56% General&Administration $ 68,918 $ 72,964 $ (4,046) 105.87% $ 484,727 $ 563,967 $ (79,240) 116.35% Range $ 400 $ 21 $ 379 5.25% $ 18,350 $ 14,039 $ 4,311 76.51% Food&Beverage $ 19,642 $ 27,695 $ (8,053) 141.00% $ 106,401 $ 233,314 $ (126,913) 219.28% Food&Beverage COGS $ 49,499 $ 46,397 $ 3,102 93.73% $ 280,795 $ 261,987 $ 18,808 93.30% Management Fee $ 25,000 $ 25,000 $ - 100.00% $ 200,000 $ 200,000 $ - 100.00% Financing/Lease $ 8,260 $ 4,692 $ 3,568 56.80% $ 149,978 $ 74,203 $ 75,775 49.48% Total Other Ex enditures 346 560 $ 358 667 12 107 103.49% 2 779 635 $ 2 688 773 $ 90 862 96.73°/ Desert Willow Golf Academy Desert Willow Golf Academy $ 22,600 $ 22,636 $ 36 100.16% $ 90,600 $ 99,233 $ 8,633 109.53% COGS-Merchandise $ (600) $ (844) $ (244) 140.67% $ (16,200) $ (3,916) $ 12,284 24.17% Other Expenditures $ (1,350) $ (3,706) $ (2,356) 274.52% $ (14,975) $ (27,396) $ (12,421) 182.94% Learning Center Income(Loss)** $ 20,650 $ 18,086 $ (2,564) 87.58% $ 59,425 $ 67,921 $ 8,496 114.30% Operating Income(Loss) $ 425,009 $ 287,922 $ (137,087) 67.74% $ (113,879) $ (610,358) $ (496,479) 535.97% Equipment Reserve Replacement $ 78,912 $ 77,454 $ (1,458) 98.15% $ 364,666 $ 543,453 $ 178,787 149.03% • Net Income Loss 346 097 210 468 35 629 60.81% 478 545 S 1 153 811 $ 675 266 241.1 0/ Snapshot of Golf Rounds Budgeted(mo Actual(mo) Variance Variance% Budgeted(vtd) Actual(vtd) • Variance Variance% Resident 2,694 2,267 (427) 84% 12,206 11,343 (863) 93% Non Resident 5,678 5,001 (677) 88% 27,900 26,580 (1,320) 95% Other 90 41 (49) 46% 652 405 (247) 62% Complimentary 446 359 (87) 80% 1,962 2,156 194 110% Total 8,908 7,668 (1,240) 86% 42,720 40,484 (2,236) 95% Folder:Desert Willow 2001:Dw2001;Financial Statement Page 1 § ( [05 \ \ \ I § k 02 N w ) ) 2 } . ® ° c1c_ 7 al ■ § ■ | ] P.- ill ! !!! ! a a {/ 0 ) ^ ) ke . h § £ ). //_ L H 0 * �!� k | � � \ / ii (� � Z ° . . . p \ \1eu a a p , to § ! \ \ ! co ® ! kK \1 } ) ` }* a.) / I CI a a 0 \ & C. 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I ; _ \ / ) CL * ] Desert Willow Breakdown of Rounds per point of sale system Desert Willow - Combined Analysis- February 2001 Resident 2,267 $ 102,015 $ 45.00 29.56% Non-Resident 5,001 $ 551,354 $ 110.25 65.22% Other 41 $ 410 $ 10.00 0.53% Complimentary 359 $ 680 $ 1.89 4.68% Desert Willow Totals 7,668 $ 654,459 $ 85.35 100.00% Da2001;POS AVG RD Page 11 Desert Willow Breakdown of Rounds per point of sale system FIRECLIFF COURSE- FEBRUARY 2001 Description No. Of Revenue Avg. Per Pct to Rounds Per POS Round Total Resident Rounds Resident Fee- Weekend 489 $ 22,005 $ 45.00 11.32% Resident Fee-Weekday 792 $ 35,640 $ 45.00 18.33% Resident -Twilight 24 1,080 $ 45.00 0.56% Total Resident 1,305 $ 58,725 $ 45.00 30.21% Non Resident Posted Weekend 434 $ 70,593 $ 162.66 10.05% Posted Weekday 590 $ 77,340 $ 131.08 13.66% IROC Des. PRTY - Weekday 46 $ 3,795 $ 82.50 1.06% IROC Des. PRTY - Weekend 35 $ 2,363 $ 67.51 0.81% Wholesale Weekend 155 $ 20,615 $ 133.00 3.59% Wholesale Weekday 103 $ 11,227 $ 109.00 2.38% Twilight 240 $ 22,664 $ 94.43 5.56% Super Twilight 84 $ 5,460 $ 65.00 1.94% Posted Replay 76 $ 6,840 $ 90.00 1.76% Fee Pass Fire - Card 208 $ 12,770 $ 61.39 4.81% Passbook - Weekday 20 $ 1,900 $ 95.00 0.46% Fee Special Event Variable 760 $ 80,200 $ 105.53 17.59% 1 Total Non Resident Rounds 2,751 $ 315,767 $ 114.78 63.68% Other Rounds Junior Walking 33 $ 330 $ 10.00 0.76% • Total Other 33 $ 330 $ 10.00 0.76% Complimentary VIP 38 $ - $ - 0.88% PGA Member 27 $ 605 $ 22.41 0.63% Donation 19 $ - $ - 0.44% COD / PDHS 140 $ - $ - 3.24% Employee / Employee Guest 7 $ - $ - 0.16% Total Complimentary 231 $ 605 $ 2.62 5.35% Total Round (FireCliff) 4,320 $ 375,427 $ 86.90 100.00% Dw2001;POS AVG RD Page 12 Desert Willow Breakdown of Rounds per point of sale system MOUNTAINVIEW COURSE- FEBRUARY 2001 Description No. Of Revenue Avg. Per Pct to Rounds Per POS Round Total Resident Rounds Resident Fee- Weekend 370 $ 16,650 $ 45.00 11.05% Resident Fee-Weekday 569 $ 25,605 $ 45.00 17.00% Resident Twilight 23 $ 1,035 $ 45.00 0.69% Total Resident 962 $ 43,290 $ 45.00 28.73% Non Resident Posted Weekend 287 $ 46,169 $ 160.87 8.57% Posted Weekday 333 $ 42,811 $ 128.56 9.95% IROC Des. PRTY- Weekday 195 $ 13,162 $ 67.50 5.82% IROC Des. PRTY- Weekend 263 $ 21,697 $ 82.50 7.86% PS Golfer 1 $ 125 $ 125.00 0.03% Wholesale Weekend . 73 $ 9,709 $ 133.00 2.18% Wholesale Weekday 96 $ 10,464 $ 109.00 2.87% Fee Pass - Card 244 $ 15,566 $ 63.80 7.29% Replay 21 $ 1,890 $ 90.00 0.63% Twilight 139 $ 13,069 $ 94.02 4.15% Super Twilight 14 $ 910 $ 65.00 0.42% Passport-Weekday 4 $ 380 $ 95.00 0.12% Fee Special Event Variable 580 $ 59,635 $ 102.82 17.32% Total Non Resident Rounds 2,250 $ 235,587 $ 104.71 67.20% Other Rounds Junior Walking 8 $ 80 $ 10.00 0.24% Total Other 8 $ 80 $ 10.00 0.24% Complimentary VIP 28 $ - $ - 0.84% PGA Member 5 $ 75 $ 15.00 0.15% Donation 8 $ - $ - 0.24% COD / PDHS 80 $ - $ - 2.39% Employee 7 $ - $ - 0.21% Total Complimentary 128 $ 75 $ 0.59 3.82% Total Round (Mountainview) 3,348 $ 279,032 $ 83.34 100% De2001;POS AVG RD Page 13 City of Palm Desert Desert Willow Cash Reserve Analysis for the month of February 2001 Cash Reserve Analysis One Month Required Reserve $ 500,000.00 Cash on Hand l $ 527,576.22 [Variance- Favorable ( Unfavorable) $ 27,576.22 I Page 14 PALM DESERT REDEVELOPMENT AGENCY COMBINED STATEMENT REVENUE AND EXPENDITURES COMPARED TO BUDGET 31-Mar-01 TOTAL RDA RDA RDA %OF ACTUAL (FAV)UNFAV BUDGET ' YTD BUDGET ACTUAL TO YTD BUDGET VARIANCE REVENUES 1,5 Tax increment 33,964,500.00 25,473,375.00 19,477,693.54 76% 5,995,681.46 2 Interest 1,342,380.00 , 1,006,785.00 2,676,652.71 266% (1,669,867.71) Sales of Property - - - 0% - 3 Reimbursement From Other Agencies 1,015,000.00 : 761,250.00 417,630.31 55% 343,619.69 Other Revenue - - 128,590.63 0% (128,590.63) Transfers to/from other funds - - - 0% - TOTAL REVENUES 36,321,880.00 27,241,410.00 22,700,567.19 4,540,842.81 FAV(UNFAV) EXPENDITURES i Administrative Costs 828,200.00 , 621,150.00 525,638.64 85% 95,511.36 Professional Services 1,060,018.00 795,013.50 358,466.97 45% 436,546.53 6 Property Tax Administrative Fee 546,000.00 546,000.00 577,543.00 106% (31,543.00) Cost of Inventory Sold - - - 0% - PaymentstoOtherGovernmentalAgencies' 11,612,795.00 8,709,596.25 1,181,142.78 14% 7,528,453.47 Bond Issuance Costs - I - - 0% - Bond Discount - - - 0% - Interest And Fiscal Charges 9,520,213.00 7,140,159.75 4,930,212.04 69% 2,209,947.71 Principal Payments 3,030,000.00 i 2,272,500.00 2,390,000.00 105% (117,500.00) - - - 0% - Capital Outlay - I - - 0% - Office Equipment ' 10,000.00 7,500.00 5,415.55 72% 2,084.45 Undergrounding Projects 46,437.00 34,827.75 6,499.52 19% 28,328.23 Deep Canyon&Hwy 111 - • - - 0% - El Paseo Improvements 4,250,000.00 3,187,500.00 31,454.88 1% 3,156,045.12 Parking Spaces 500,000.00 ; 375,000.00 - 0% 375,000.00 Fred Waring Dr.Street Improvements j 2,148,532.00 1,611,399.00 1,396.50 0% 1,610,002.50 1-10 Cook St Interchange 250,000.00 1 250,000.00 250,000.00 100% - 4 No.Sphere Infrastructure 1,184,058.00 888,043.50 1,180,269.57 133% (292,226.07) RDA Projects 3,313,582.00 : 2,485,186.50 - 0% 2,485,186.50 Desert Willow 113,970.00 ; 85,477.50 7,713.38 9% 77,764.12 Land Purchases/Property Acquisition 4,557,000.00 i 3,417,750.00 393,568.41 12% 3,024,181.59 Business Enhancement Loan Programs 1,000,000.00 750,000.00 - 0% 750,000.00 Regional Park#4 5,000,000.00 3,750,000.00 - 0% 3,750,000.00 - - - 0% - Transfers I - - - 0% - Transfer Out Administrative Costs - . - - 0% - 3 Transfer(In)/Out Capital Exp Reimb (920,000.00)1 (690,000.00) - 0% (690,000.00) 5 Transfer Out Low/Mod Set-Aside 6,680,700.00 1 5,010,525.00 3,895,538.71 78% 1,114,986.29 - - - 0% - 1 TOTAL EXPENDITURES i 54,731,505.00 41,247,628.75 15,734,859.95 25,512,768.80!:: 1. 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CO CO � 0_ I- I- I- I- I- j IX w PALM DESERT REDEVELOPMENT AGENCY 31-Mar-01 Schedule of Revenue and Expenditures HOUSING FUND 9 YTD (FAV)UNFAV Budget Budget Actual YTD Variance REVENUES L. 2 Transfer in of 20% Set-Aside 6,711,700.00 5,033,775.00 [ 3[895,538.71 1,138,236.29 3 Interest 15,000.00 11,250.00 25,154.89 (13,904.89) Rental Income 28,000.00 21,000.00 21,469.47 (469.47) Sales of Property 470,000.00 352,500.00 572,500.00 (220,000.00) 1 Reimbursement From Other Agencies - - 2 Housing Mitigation Fees - - Other Revenue - 12,702.88 (12,702.88) TOTAL REVENUES 7,224,700.00 5,418,525.00 4,527,365.95 891,159.05 EXPENDITURES FAV(UNFAV) Administrative Costs 346,550.00 259,912.50 214,826.13 45,086.37 Professional Services 328,405.00 ' 246,303.75 32,412.11 213,891.64 Property Tax Administrative Fee - - Cost of Inventory Sold - - 6 Interest And Fiscal Charges 2,639,835.00 ! 1,979,876.25 2,616,081.69 (636,205.44) 6 Principal Payments 915,000.00 i 686,250.00 915,000.00 (228,750.00) - - Office Equipment 5:000.00 3,750.00 3,750.00 Acquisition Rehab/Resale#7 325,000.00 ` 243,750.00 126,615.39 117,134.61 Home Improvement Program 1-6 392,691.00 I 294,518.25 1,323.35 293,194.90 Santa Rosa 503,462.00 377,596.50 377,596.50 4 Property Purchases 39,995.00 29,996.25 47,323.00 (17,326.75) 5 Desert Rose 320,000.00 240,000.00 312,193.97 (72,193.97) 5 Portola Palms Mobilehome Park 120,000.00 ` 90,000.00 216,729.73 (126,729.73) Housing Development 2,000,000.00 i 1,500,000.00 1,500,000.00 Transfers - - Transfer(In)/Out Administrative Costs - - Transfer(In)/Out Capital Exp Reimb - - TOTAL EXPENDITURES ( 7,935938.00 5,951,953.50 4,482,505.37 1,469,448.13 Notes: 1 Includes prior year adjustment for tax increment calculation change 2 This transfer is done once a year only. (This is an based on actual $ rcvd) 3 Interest is posted with investment maturities or dividend payments 4 Purchase of Rental property on Santa Rosa 5 Includes re-purchases and re-sales 6 Debt Service is due 10/1 and 4/1 of each year City of Palm Desert Portfolio Summary of Cash March 31,2001 Total Cash $170,485,088.95 Less Cash Restricted for: Assessment Districts**(1) $58,037,293.95 Special Revenue Fund(2) $23,983,426.89 Capital Projects(3) $22,518,681.99 Enterprise Fund(4) $ 2,932,579.69 Trust&Assessments(5) $ 1,443,233.74 Library Materials(6) $ 10,997.47 Loan to RDA(7) $31,002,916.95 $139,929,130.68 Less General Fund Reserved for: Equipment Replacement $ 2,494,478.00 Encumbrances $ 5,986,122.56 Debt Service $ - Loans&Receivables $ 500,000.00 Self Insurance/Retiree Health $ 4,372,814.20 $ 13,353,414.76 Unrestricted Cash $ 17,202,543.51 Total Cash 0Assessment Districts •Special Revenue Fund ❑Capital Projects 0 Enterprise Fund ❑Trust &Assessments ■Library Materials •Loan to RDA 0 Unrestricted Cash O General Fund Reserved 14% 34% , 13% -�` 2% 1% 8% 0% 10% 18% (1)Funds are restricted to Assessment District Capital Improvement, Principal and Interest payments. (2)Funds have been restricted for specific purposes. Example: °Measure A'funds can be used (3)Funds have been:only for street projects. (4)Funds have restric Shoppingtown parking structure. (5)Funds held on deposit for developers. (s)Funds restricted for library purposes. (7)RDA Loans-No payment schedule has been done, Payments are unknown. Total Cash balance in this schedule is calculated on the cash basis. Investment Committee receives cash balance on the accrual basis. Palm Desert RDA Summary of Cash March 31,2001 Total Cash ' 152,399,818.19 Less Cash Restricted for: (1) Bond Funds 121,299,881.54 (2) Debt Service 21,217,563.34 (3) 20%Set-Aside (313,737.68) (4) Housing Authority 4,536,666.81 (5) Trust 3,540,445.58 150,280,819.59 Unrestricted Cash 2,118,998.60 Chart of Restricted Cash 0 Bond Funds 0 Debt Service 1 ❑20% Set-Aside 0 Housing Authority •Trust 0 Unrestricted Cash 80% 47G A lo & r It x�, .. x e ra3:, � 1ts. 14% 1% 0% 2% 3% (i) Balance includes funds for escrow payments, Bond Funded Capital Projects, and payments for Debt Service (2) Funds used for Debt Service Payments and expenditures for projects under contract (3) Funds used for low income purposes(transfer of 20%done at year end) (4) Funds reserved for the Housing Authority purposes (5) Deposit held for Pass-Through Agency • Total Cash balance in this schedule is calculated on a cash basis. 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C Co o - c t r C Rf v ''C1 y 2 cg ti a. rn City of Palm Desert Parkview Office Complex March-al March-01 # % YTD YTD # % Budget Actual Variance Variance Budget Actual Variance Variance Revenues Rental $ 63,000 $ 68,568 $ 5,568 108.84% $ 567,000 $ 611,403 $ 44,403 107.83% Dividends/Interest $ 2,500 $ 7,028 $ 4,528 281.10% $ 22,500 $ 67,498 $ 44,998 299.99% Total Revenues $ 65,500 $ 75,596 $ 10,096 115.41% $ 589,500 $ 678,901 $ 89,401 115.17/° Expenses Professional-Accounting&Auditing $ 5,800 $ 6,371 $ (571) 109.85% $ 52,200 $ 57,339 $ (5,139) 109.85% Professional-Consultants $ 6,500 $ 5,645 $ 855 86.85% $ 58,500 $ 53,191 $ 5,309 90.92% Tenant Improvements $ 2,500 $ 16,390 $ (13,890) 655.60% $ 22,500 $ 72,180 $ (49,680) 320.80% ' Repairs&Maintenance Building $ 9,100 $ 11,714 $ (2,614) 128.73% $ 81,900 $ 61,434 $ 20,466 75.01% Repairs&Maintenance-Landscapi $ 2,300 $ - $ 2,300 0.00% $ 20,700 $ - $ 20,700 0.00% Utilities-Water $ 250 $ 112 $ 138 44.62% $ 2,250 $ 990 $ 1,260 43.98% Utilities-Gas/Electric $ 4,300 $ 4,008 $ 292 93.22% $ 43,200 $ 42,492 $ 708 98.36% Utilities-Trash $ 450 $ 877 $ (427) 194.81% $ 4,050 $ 5,485 $ (1,435) 135.43% Telephone $ 150 $ 150 $ (0) 100.19% $ 1,350 $ 1,205 $ 145 89.25% Insurance $ 521 $ - $ 521 0.00% $ 4,687 $ - $ 4,687 0.00% Total Expenses $ 31,871 $ 45,267 $ (13,396) 142.03% $ 291,337 $ 294,315 $ (2,978) 101.02% Opera ring Income $ 33,62$ ,$ 30,329 $,:(3,300) 9t19% $ 298,163 $ 3$4 586 $ $6,423 128.99% Equipment Replacement Reserve $ 9,639 $ 9,639 $ - 100.00% $ 86,751 $ 28,917 $ 57,834 33.33% Net Income $ 23990 $ 20,696 $ (3,300} $624% $ 211Al2 $ 3$$,669 $ 144,257 16020 Invesh2001-invest Parkview Office Complex Vacancy Rate Schedule by Suite March 2001 Suite Square No. Tenant Feet 73-710 Fred Waring Drive-Two (2) Story Building 100 Hanover 2,560 102 Bergren 1,360 103 Multiple Sclerosis 488 104 Arthritis Foundation 960 106 JMS Consulting 928 108 Senator Kelly 785 112 Assemblyman Baffin 1,406 114 Chamber of Commerce 1,478 118 Goodwill Industries 1,250 119 City/CVAG Conference Room 1,380 120 Golf Dimensions 1,750 200 CVAG 4,292 200A University of California Riverside 841 201 City Storage 604 203 Accounting Services 480 205 Coachella Valley Economic Partnership 700 208 Desert Springs Investments 960 210 Wilson,Pesota&Pichardo 3,040 211 Alzheimer's Association 937 217 Joe B. McMillan,. Esq. 775 Invest;Vacancy Report Parkview Office Complex Vacancy Rate Schedule by Suite March 2001 Suite Square No. Tenant Feet 220 CA.State Dept.of Agriculture 1,607 222 WMA Securities 2,981 Total square footage(2 story Building) 31,562 Vacancy Rate-604/31,562= 1.91% 73-720 Fred Waring Drive-One Story Building 100 State of California-Water Resources 15,233 102 State of California-Rehabilitation Department 4,396 Total Square Footage 19,629 Vacancy Rate-0.00% 0.00% Overall Vacancy Rate for Both Buildings: Vacancy Rate--604/51,191 1.18% Occupancy Rate-50,587/51,191 98.82% Note: Parkview Office Complex is 100%occupied in terms of available space.Suite 106 is used as storage for the City of Palm Desert. 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