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HomeMy WebLinkAboutOversight Board Regular Agenda Packet 02-24-2015L'f TV (IF ._ L1)1 E LjLSIf`ORJE Cti 16 C.A:t, F.Xr (k i sl r Tuesday, February 24, 2015 City of Lake Elsinore Regular Agenda Oversight Board DAVE OSTER, CHAIR GENIE KELLEY, VICE CHAIR GEORGE LANDON, BOARD MEMBER NANCY LASSEY, BOARD MEMBER MICHAEL WILLIAMS, BOARD MEMBER BRIAN TISDALE, BOARD MEMBER PHIL WILLIAMS, BOARD MEMBER 3:45 PM LAKE-ELSINORE.ORG (951) 674-3124 PHONE CULTURAL CENTER 183 N. MAIN STREET LAKE ELSINORE, CA 92530 Cultural Center The agenda is posted 72 hours prior to each meeting outside of the Lake Elsinore City Hall located at 130 South Main Street and is available at each meeting. The agenda and related reports are also available at the Lake Elsinore City Clerk's Department on the Friday prior to the Oversight Board meeting and are available on the City's website at www.lake-elsinore.org. Any writing distributed within 72 hours of the meeting will be made available to the public at the time it is distributed to the Oversight Board. In compliance with the Americans with Disabilities Act, any person with a disability who requires a modification or accommodation in order to participate in a meeting should contact the Community Development Department at (951) 674 -3124, ext. 269, at least 48 hours before the meeting to make reasonable arrangements to ensure accessibility. CALL TO ORDER - 3:45 P.M. PLEDGE OF ALLEGIANCE ROLL CALL PRESENTATIONS - None PUBLIC COMMENTS - NON AGENDIZED ITEMS - 3 MINUTES (Please read & complete a Request to Address the Oversight Board form prior to the start of the meeting and submit it to the Clerk. The Chairperson or Clerk will call on you to speak when your item is called.) CONSENT CALENDAR ITEM(S) 1) ID# 14-470 Approval of Minutes Recommendation-- It is recommended that the Oversight Board approve the minutes of the Regular Meeting of September 23, 2014. Artachmen[s: OB SR- Aonrovinq Minutes 9-23-2014 OB Minutes of 9-23-2014 City of Lake Elsinore Page 1 Printed on 212012015 Oversight Board Regular Agenda February 24, 2015 2) ID# 14-471 Warrant Lists Recommendation: That the Oversight Board receive and file the attached Warrant lists. Attachments: OB SR- Warrant Lists 022415 Warrant List Attachment 022415 3) ID# 14-472 Investment Report - August 2014, September 2014, October 2014, November 2014 & December 2014 Recommendation: That the Oversight Board receive and file the attached Investment Report Summaries Attachments: OB SR- Investment Report 022415 Investment Report Attachment 022415 BUSINESS ITEM(S1 4) ID# 14-473 Recognized Obligation Payment Schedule PROPS 15-16Ai For July 1, 2015 Through December 31, 2015 Recommendation: It is recommended that the Oversight Board approve and adopt: Resolution No. OB -2015-001 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 15-16A) FOR JULY 1, 2015 THROUGH DECEMBER 31, 2015 SUBJECT TO APPROVAL THEREOF BY THE SUCCESSOR AGENCY. Attachments: OB Staff Report - Adoption of July - December 2015 ROPS 15-16A OB Reso #2015-001 Re ROPS 15-16A 022415 Lake Elsinore ROPS 15-16A Dv5 STAFF COMMENTS BOARD MEMBER COMMENTS ADJOURNMENT The next regular quarterly Oversight Board meeting will be held on Tuesday, June 9, 2015, at 3:45 p.m. at the Cultural Center, 183 N. Main Street, Lake Elsinore, CA 92530. AFFIDAVIT OF POSTING I, Virginia J. Bloom, Clerk of the Oversight Board, do hereby affirm that a copy of the foregoing agenda was posted at City Hall, 72 hours in advance of this meeting. Virginia J. Bloom, Clerk of the Oversight Board City of Lake Elsinore Page 2 Printed on 2120/2015 Agenda Date: 2/24/2015 In Control: Oversight Board Agenda Number: 1) City of Lake Elsinore Text File File Number: ID# 14-470 Version: 1 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org Status: Consent Agenda File Type: Report City of Lake Elsinore Page 1 Printed on 212012015 OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: CHAIRMAN OSTER AND MEMBERS OF THE OVERSIGHT BOARD FROM: VIRGINIA J. BLOOM, CLERK OF THE BOARD DATE: DECEMBER 9, 2014 SUBJECT: APPROVAL OF MINUTE(S) Recommendation It is recommended that the Oversight Board approve the minutes of: a. Oversight Board Regular Meeting September 23, 2014 Discussion The following Oversight Board Meeting Minute(s) are submitted for approval: a. Oversight Board Regular Meeting September 23, 2014 Prepared by: Virginia Bloom City Clerk/Oversight Clerk of the Board AGENDA ITEM 1 Page 1 ti:.. J-'' o C . �.. Ltd)-LL.-?LSfN(_RE - hltif+t.x4 E�TC�r�rl: Tuesday, September 23, 2014 CALL TO ORDER - 3:45 P.M. City of Lake Elsinore Meeting Minutes Oversight Board 3:45 PM Chairman Oster called the meeting to order at 3:49 p.m. PLEDGE OF ALLEGIANCE Board Member Tisdale led the Pledge of Allegiance. ROLL CALL 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org PRESENT: Board Member Tisdale, Board Member Lassey, Board Member P. Williams, Board Member M. Williams, Vice -Chair Kelley and Chairman Oster ABSENT: Board Member Landon Cultural Center Also present: Successor Agency Counsel Leibold, Administrative Services Director Simpson, Oversight Legal Counsel Greer and Clerk of the Board Bloom PUBLIC COMMENTS — None PRESENTATIONS Clerk of the Board Bloom administered the Oath of Office to incoming Board Member Michael Williams. CONSENT CALENDAR ITEM(S) 1) ID# 14-301 Approval of Minutes Atiachmenls: OB SR- Approving Minutes 092314 February 25 2014 Minutes It is recommended that the Oversight Board approve the minutes of the regular meeting of February 25, 2014. City of Lake Elsinore Page 1 Oversight Board Meeting Minutes September 23, 2014 2) ID# 14-302 Update on Successor Agency Financial Activities - Investment Reports and Warrant Lists Attachments: OB SR- Warrant Lists 092314 Warrant List Attachment 092314 OB SR- Investment Report 092314 Investment Report Attachment 092314 It is recommended that the Oversight Board receive and file the Investment Reports and Warrant Lists. 3) ID# 14-303 State Controller's Audit Attachments: OB SR - State Controller's Audit 092314 State Controller's Audit -Asset Transfer Review Report Aug2014 It is recommended that the Oversight Board receive and file the California State Controller's Office Asset Transfer Review Report. Motion by Board Member P.Williams, seconded by Vice -Chair Kelley to approve the Consent Calendar, passed by the following vote: AYES: Board Member P.Williams, Vice -Chair Kelley, Board Member Tisdale, Board Member Lassey and Chairman Oster NOES: None ABSENT: Board Member Landon ABSTAIN: Board Member M.Williams BUSINESS ITEM(S) 4) ID# 14-304 Second Amendment to the Stadium Interim Management Agreement Attachments: OB SR Second Amend to Interim Stadium Mana erient A reement 092314 V2 OB Reso Aoorovina Second Amendment Stadium Interim Mgrnt AM 092314 — — -- Second Amendment to Stadium Interim Management AM 091814 It is recommended that the Oversight Board adopt Resolution No. OB -2014-005 A Resolution of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore Approving the Second Amendment (2015) to the Stadium Interim Management Agreement Between the Successor Agency of the Redevelopment Agency of the City Of Lake Elsinore and The Lake Elsinore Storm LP. City of Lake Elsinore Page 2 Oversight Board Meeting Minutes September 23, 2014 Successor Agency Counsel Leibold presented the report. Chairman Oster announced his conflict on this agenda item and stepped down from the dais. Motion by Board Member P.Williams, seconded by Board Member Tisdale, to approve the Second Amendment to the Stadium Interim Management Agreement and adopt Resolution No. OB -2014-005, passed by unanimous vote as follows: AYES: Board Member P.Williams, Board Member Tisdale, Board Member Lassey, Board Member M.Williams and Vice -Chair Kelley NOES: None ABSENT: Board Member Landon and Chairman Oster ABSTAIN: None 5) ID# 14-305 Recognized_ Obligation Payment Schedule (ROPS 14-15B) for January 1, 2015 through June 30, 2015 Attachmenfs. OB SR - Adoption of ROPS 14-15B 092314 OB Reso 2014-006 Re ROPS 14-15B 092314 Lake Elsinore ROPS 14-15B for Oversi ht Board Approval (Validated) It is recommended that the Oversight Board adopt Resolution No. OB -2014-006 A Resolution of the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore Approving the Recognized Obligation Payment Schedule (Rops14-15B) For the Period of January 1, 2015 Through June 30, 2015 Subject to the Approval Thereof By the Successor Agency. Chairman Oster returned to the dais. Administrative Services Director Simpson introduced himself and presented the ROPS 14-15B for approval. He pointed out the the obligation owed to Amber Ridge was been paid off however the line item remains on the ROPS. Successor Agency Counsel Leibold announced that the Department of Finance has approved all previous ROPS and that this schedule outlines the same items. Motion by Board Member P.Williams, seconded by Board Member Tisdale, to approve the ROPS 14-15B and adopt Resolution No. OB -2014-006, passed by unanimous vote as follows: AYES: Board Member P.Williams, Board Member Tisdale, Board Member Lassey, Board Member M.Williams, Vice -Chair Kelley and Chairman Oster NOES: None ABSENT: Board Member Landon ABSTAIN: None City of Lake Elsinore Page 3 Oversight Board Meeting Minutes September 23, 2014 6) ID# 14-306 Amendment to Oversight Board Legal Services Agreement ttaehments: OB SR- OB Legal Counsel 092314 OB Reso 2014-007 Re Oversight Legal Counsel 092314 It is recommended that the Oversight Board adopt Resolution No. OB -2014-007 A Resolution Of The Oversight Board To The Successor Agency Of The Redevelopment Agency Of The City Of Lake Elsinore Approving Amendment No. 2 To Oversight Board Legal Services Agreement. Successor Agency Counsel Leibold presented the staff report to the Board. Oversight Board Counsel Greer stated that he was retained when the Board was first formed, however staff has kept the Board on track therefore there was no real need for his continued services. Board Member P.Williams thanked Attorney Greer for his services and pointed out that the Board has the option of calling him if they felt the need. Vice -Chair Kelley also thanked Attorney Greer. Motion by Board Member Tisdale, seconded by Vice -Chair Kelley, to discontinue general counsel services and direct staff to retain legal counsel on an as needed basis as determined by the Oversight Board, passed by unanimous vote as follows: AYES: Board Member Tisdale, Vice -Chair Kelley, Board Member P.Williams, Board Member M.Williams, Board Member Lassey and Chairman Oster NOES: None ABSENT: Board Member Landon ABSTAIN: None STAFF COMMENTS Successor Agency Legal Counsel Leibold thanked Attorney Greer for his services; she announced that the audit by the State Controller's office has indicated no inappropriate transfers and that staff is working with them on the real property management plan at this time. BOARD MEMBER COMMENTS Board Member Tisdale welcomed the newest Member to the Oversight Board, Michael Willaims on behalf of the San Jacinto Community College District. City of Lake Elsinore Page 4 Oversight Board Meeting Minutes September 23, 2014 ADJOURNMENT Chairman Oster adjourned this meeting at 4:11 p.m. to the next regular Oversight Board meeting to be held on Tuesday, December 9, 2014, at the Cultural Center, 183 N. Main Street, Lake Elsinore, CA 92530. Dave Oster, Oversight Board Chairman Virginia J. Bloom, Clerk of the Board City of Lake Elsinore Page 5 City of Lake Elsinore Text File File Number: ID# 14-471 Agenda Date: 2/24/2015 Version: 1 In Control: Oversight Board Agenda Number: 2) 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore org Status: Consent Agenda File Type: Report City of Lake Elsinore Page t Printed on 212012015 OVERSIGHT BOARD OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: CHAIRMAN OSTER AND MEMBERS OF THE OVERSIGHT BOARD FROM: BARBARA LEIBOLD, SUCCESSOR AGENCY COUNSEL DATE: FEBRUARY 24, 2015 SUBJECT: Warrant Lists Recommendation: That the Oversight Board receive and file the attached Warrant lists. Discussion: The warrant list is a listing of all general checks issued by the Successor Agency. Attached are warrant lists for all disbursements made by the Successor Agency from September 2014 through October 2014, November 26, 2014 through December 2014 and January 29, 2015. All checks issued are for items reflected on the Recognized Obligations Payment Schedule (ROPS) adopted by the Successor Agency and the Oversight Board and do not represent expenditures for any new items. Prepared by: Barbara Leibold, Successor Agency Counsel Attachments: Warrant Summary/List dated September 11, 2014 Warrant Summary/List dated September 25, 2014 Warrant Summary/List dated October 16, 2014 Warrant Summary/List dated October 30, 2014 Warrant Summary/List dated November 13, 2014 Warrant Summary/List dated November 26, 2014 Warrant Summary/List dated December 11, 2014 Warrant Summary/List dated December 24, 2014 Warrant Summary/List dated January 29, 2015 Page 1 Li I I Y Q t� ^K-� LAKE'Cr�-tLSINOtkE t A :8 i ^r tr-s.. d.. REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINtRi TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT YATES EXECUTIVE DIRECTOR DAT9: SEPTEMBER 22, 2014 SUBJECT: WARRANT LIST [SATED SEPTEMBER 11, 2014 Recommendation it is recommended that the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Warrant List dated September 11, 2014 Discussion The warrant list is a fisting of all general checks issued by the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore since the prior Warrant List. Prepared BY: Frances Ramirez Account ;specialist II Reviewed By: Jason Simpson Administrative Services Director Approved By: Grant Yates City Manager Attachments: Warrant List 9-11-2014 SE=. -M EER 11, 2014 WARRANT SUMMARY SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKs ELSINORE FUND# FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 $ 461,572.00 540 SUCCESSOR DIAMOND STADIUM 51.711.00 9116/2014 Warrant 09 11 14 SA RDA 1 of 1 SEPTEMBER 11, 2014 WARRANT LIST' SUCCESSOR AGENCY OF THE REDEVE]LOPM. TNT ACE-NCY OF THE CfTY OF LAKE ELSINORE CHECK# VENDOR NAME AMOUNT 7228 RNERSIDE COUNTY FLOOD CONTROL $ 451,572.40 7229 LAKE ELSINORE STORM, LP 51,711.00 WARRANT TOTAL, 513,283.00 GRAND TOTAL $ 513,283,00 9/16/2014 Warrant 09 11 14 SA RDA 1 of 1 CITY OF ^— L A K E Cot),LSIN 0 RE ��. DPLEAM. EXTREME REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT YATES EXECUTIVE DIRECTOR DATE: OCTOBER 14, 2014 SUBJECT: WARRANT LIST DATED SEPTEMBER 25, 2014 Recommendation It is recommended that the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Warrant List dated September 25, 2014 Discussion The warrant list is a listing of all general checks issued by the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore since the prior Warrant List. Prepared By: Frances Ramirez Account Specialist II Reviewed By: Jason Simpson Administrative Services Director Approved By: Grant Yates City Manager Attachments: Warrant List 9-25-2014 SEPTEMBER 25, 2014 WARRANT SUMMARY SUCCESSOR AGENCY OF TH-E REDEVELOPMENT AGENCY OF THE CITY OF LAKE K E ELSINORE .FUND# FUND DJESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 520 SUCCESSOR TO RDA AREA 2 530 SUCCESSOR TO RDA AREA 3 540 SUCCESSOR DIAMOND STADIUM 1,356.67 1,356.66 60,345.74 GRAD TOTAL $ 64, 5.74 10/6/2014 Warrant 09 25 14 SA RDA 1 of 1 SEPTEMBER 25, 2014 WARRANT LIST SUCCESSOR AGENCY OF ` IU REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE CHECK# VENDOR NAME AMOUNT 7230 LAKE ELSINORE STORM, LP _ $ 8,634,74 7231 HDL COREN & CONE _ 4,070-00 7232 LAKE ELSINORE STORM, LP 59,711.00 WARRANT TOTAL 64,415-74 GRAND TOTAL $ 64,415.74 I OIW2014 Warrant 09 25 14 SA RDA 1 of 1 CITY O -. LAKEL�_�.R,F DREAM EXTREME REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT YATES EXECUTIVE DIRECTOR DATE: OCTOBER 28, 2014 SUBJECT: WARRANT LIST DATED OCTOBER 16, 2014 Recommendation It is recommended that the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Warrant List dated October 16, 2014 Discussion The warrant list is a listing of all general checks issued by the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore since the prior Warrant List. Prepared By: Frances Ramirez Account Specialist II Reviewed By: Jason Simpson Administrative Services Director Approved By: Grant Yates City Manager Attachments: Warrant List 10-16-2014 OCTOBER 16, 2014 WARRANT SUMMARY SUCCESSOR AGENCY OF `JOIE REDEVELOPMENT AGENCY OF THE CITY OF LAKE EiSINORE f ND# FUND DESC IP ON TOTAL 510 SUCCESSOR TO RDA AREA 1 $ 2,463.65 520 SUCCESSOR TO RDA AREA 2 1,317.861 530 SUCCESSOR TO RDA AREA 3 1,317.86 540 SUCCESSOR DIAMOND STADIUM 65,070.01 10/21/2014 Warrant 10 16 14 SA RDA 1 of 1 OCTOBER 16,20A WARRANT LIST SUCCESSOR AGENCY OF T1JE REDEVELOPMENT .AGENCY OF rii- R![! , CI'T'Y OF LAKE ELSENOUE CHECK# VENDOR NAME AMOUNT 7233 LAKE ELSINORE STORM, LP $ 65,070.01 7234 LBIBOLD, MCCLENDON & MANN, LLP 5,099.37 WARRANT TOTAL 70,169.38 GRAND TOTAL $ 70,159.38 10/21/2014 Warrant 1016 14 SA RDA 1 of 1 CITY OF, L cm LS NOPZ 4 -- DREAM EXTREME TW REPORT TO CITY COUNCIL TO: HONORABLE MAYOR ,AND MEMBERS OF THE CITY COUNCIL FROM: GRANT YATES CITY MANAGER DATE: NOVEMBER 12, 2414 SUBJECT: WARRANT LIST DATED OCTOBER 30, 2014 Recommendation It is recommended that the City Council of the City of Lake Elsinore receive and file the Warrant List dated on October 30, 2014 Discussion The warrant list is a listing of all general checks issued since the prior warrant list. Prepared By: Frances Ramirez Account Specialist 11 Reviewed By: Jason Simpson Administrative Services Director Approved By: Grant Yates City Manager Attachments: Warrant List 10-30-2014 OCTOBER 3a. 2014 WARRANT' SUMMARY SUCCESSOR AGENCY OF 'TE REDEVELOPMENT AGENCY OF THE CIFY OF ]SAKE ELSIINORE- FUND# FUND DESCRIPTION TOTAL 510 SUCCESSOR TO RDA AREA 1 $ 333.33_ 520 SUCCESSOR TO RDA AREA 2 -- - --- 333.33 530 SUCCESSOR TO RDA AREA 3333.34 540 SUCCESSOR DIAMOND STADIUM _ 336,711.01 GRAND TOTAL .01 1113/2014 Warrant 10 30 14 SA RDA 1 Of 1 OCTOBER 30, 2014 WARRANT LIST SUCCESSOR AGENCY OF THE REDE'6TELC3PMTNT AGENCY OF THE CITY OF LAKE ElSINORE CHECK# VENDOR NAME AMOUNT 7235_ LAKE ELSINORE STORM, LP $ 185,210.01 LAW OFFICES OF PHILLIP OR_ EER --- 1,000,00 7237 LAKE ELSINORE STORM. LP - 141,501.00 WARRANT TOTAL 337,711.01 GRAND TOTAL $ 337,711.01 11/3/2014 Warrant 10 3014 SA RDA 1 of 1 CITY OF'ZZ—:fF� LA 1QrE LS I r10 RE DREAM EXTP.EME REPORT TO CITY COUNCIL TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL FROM: GRANT YATES CITY MANAGER DATE: DECEMBER 09, 2014 SUBJECT: WARRANT LIST DATED NOVEMBER 13 & 2f, 2014 Recomm ndation It is recommended that the City Council of the City of Lake Elsinore receive and file the Warrant List dated on November 13 & 26, 2014 Discussion The warrant list is a listing of all general checks issued since the prior warrant list. Prepared By: Frances Ramirez Account Specialist II Reviewed By: Jason Simpson Administrative Services Director Approved By: Grant Yates City Manager Attachments: Warrant List 11-13 & 16-2014 tis NOVEMBER .;i6, 2014 WARRANT SUMMARY SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE FUND# FUND DESCRIPTION TOTAL 540 SUCCESSOR DIAMOND STADIUM $ 51,711.00 GRAND TOTAL 51,711.00 2120/2015 Warrant 11 13 14 SA RDA 1 of 1 I NOVEMBER , 2014 WARRANT list SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE CHECK# Vendor Name Amount 7238 LAKE ELSINORE STORM. LP $ 51,71'1.00 WARRANT TOTAL 51,711.00 GRAND TOTAL $ 51,711.00 2120/2015 Warrant 11 13 14 SA RDA t of 1 NOVEMBER 26, 2014 WARRANT SUMMARY SUCCESSOR AGENCY OF 'IE REDEVEL,OPJMF:NT AGENCY OF THE CITY OF ISE ELSINO-RE FUND# FUND DESCRIPTION TOTAL 540 SUCCESSOR DIAMOND STADIUM $ 51,711.00 GRAIVr) T0TAL $ 51,711.00 12/2!2414 Warrant 1126 14 SA RDA 1 of 7 NOVEMBER 26, X114 WARRANT LIST SUCCESSOR AGENCY CSF 'Tl TIE REDEVELC]PM EN7[' AGENCY OF THE CST OF LAKE, ELSINORE CHECK# VENDOR NAME AMOUNT 7238 LAKE ELSINORE STORM, LP $ 51,711.00 WARRANT TOTAL � 51,711.00 GRAND TOTAL 51,711.00 12!2/2014 Warrant 1126 14 SA RDA 1 of 1 CITY O F -• LAKE LSIHO E DRCAIvo. EXTREME �ru REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT YATES EXECUTIVE DIRECTOR DATE: JANUARY 27, 2015 SUBJECT: WARRANT LIST DATED DECEMBER 11 & 24, 2014 Recommendation It is recommended that the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Warrant List dated december 11 & 24, 2014 and January 15, 2015. Discussion The warrant list is a listing of all general checks issued by the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore since the prior Warrant List. Prepared By: Frances Ramirez Account Specialist II Reviewed By: Jason Simpson Administrative Services Director Approved By: Grant Yates City Manager Attachments: Warrant List 12-11 & 24-2014 DECEMBER 11. 2014 WARRANT SUMMARY SUCCESSOR AGENCY OF TfU REDEVELOPMENT AGENCY CSF TIS -E CFS OF LATE ELSINORE FUND# FUND DESCRIPTION TOTAL 510 SUCCESSOR DIAMOND STADIUM $ 3,089.44 520 SUCCESSOR TO RDA.. AREA 2 _ 3,335.52_ 530 SUCCESSOR TO RDA AREA 3 2,350.12 540 SUCCESSOR STADIUM CAPITAL 5,400.00 GRAND TOTAL 14,15 x.18 1/20/2015 Warrant 12 11 14 SA RDA 1 of 1 DECEMBER 11, 2014 WARRANT LIST SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF TIM CITY OF LAKE ELSINORE CHECK# VENDOR NAME AMOUNT 7239 LEIBOLD, MCCLENDON & MANN $ 6,565.18 7246 ROTO ROOTER PLUMBERS 5,400.00 _ 7241 UNION BARK OF CALIFORNIA - - 2,190,00 WARRANT TOTAL 14,155.1 & GRAND TOTAL $ 14,155.18 1/2012015 Warrant 12 11 14 SA RDA 1 of 1 DECEMBER 24, 2014 WARRANT' SUMMARY SUCCESSOR AGENCY OFTHE REDEVELOPMENT AGENCY OF HE CITY OF LAKE, ELSINORE FUND# FUND DESCRU)T[ON TOTAL 510 SUCCESSOR DIAMOND STADIUM 520 SUCCESSOR TO RDA AREA 2 530 SUCCESSOR TO RDA AREA 3 540 SUCCESSOR STADIUM CAPITAL $ 2,964.95 5,350.62 _ 5,350.62 - 51,711.00_ GRAND TOTAL $ 65,377• 1/20/2015 Warrant 12 24 14 SA RDA 1 of 1 DECEMBER 24, 2®14 WARRANT LIST SUCCESSOR AGENCY OF THE REDEVELOPM ENT AGENCY OF THE CITY OF LAKE EI..SP[ ORT. CHECK# VE,NI)OR NAME AMOUNT 7242 SANK OF AMERICA, CITY $ 496.70 7243 LAKE ELSINORE STORM, LIP 7244 -----LEI@OLD, MCCLENDON & MANN WARRANT TOTAL - GRAND TOTAL 1/20/2015 Warrant 12 24 14 SA RDA 1 of 1 51,711.p0 13,170.49 - 65,377.19 $ 65,377.19 DREAM E-XTIZEME iu REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT YATES EXECUTIVE DIRECTOR DATE: FEBRUARY 10, 2015 SUBJECT: WARRANT LIST DATED JANUARY 29, 2015 Recommendation It is recommended that the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Warrant List dated January 29, 2015. Discussion The warrant list is a listing of all general checks issued by the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore since the prior Warrant List. Prepared By- Frances Ramirez Account Specialist II Reviewed By: Jason Simpson Administrative Services Director Approved By: Grant Yates City Manager Attachments: Warrant List 1-29-15 JANUARY 29, 2015 WARRANT SUMMARY SUCCESSOR AGENCY OF THE REDEVELOPNMNT AGENCY OF TUN CITY OF LAKE ELSINORE FUNIS# FUND DESCRHYTTON TOTAL 540 SUCCESSOR DIAMOND STADIUM $ 51,711.00 GRAND TOTAL $ 51,711.00 2/2/2015 Warrant 0129 15 SA RDA 1 of 1 JANUARY 29, 2015 WARRANT LIST SUCCTSSOR AG-PNCY OF THE REDEVEL,®.PMTENT AGENCY OF TIU CI'T'Y OF TAKE ELSINORE CHECK# VENDOR NAME AMOUNT 7245 VOID -OAK GROVE EQUITIES, INC. $ (78,170,28) 7247 OAK GROVE EQUITIES, INC. 78,170.28 7248 - LAKE ELSINORE STORM, LIP - 51,711.00 WARRANT TOTAL. 51,711.00 GRAND TOTAL $ 51,711.00 2/2/2015 Warrant 0129 15 SA RDA 1 of 1 City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www lake-elsinore.org ti�>I�E. W """ Text File File Number: ID# 14-472 Agenda Date: 2/24/2015 Version: 1 Status: Consent Agenda In Control: Oversight Board File Type: Report Agenda Number: 3) City of Lake Elsinore Page 1 Printed on 212012015 OVERSIGHT BOARD OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: CHAIRMAN OSTER AND MEMBERS OF THE OVERSIGHT BOARD FROM: BARBARA LEIBOLD, SUCCESSOR AGENCY COUNSEL DATE: FEBRUARY 24, 2015 SUBJECT: Investment Report - August 2014, September 20_1.4_, October 2014, November 2014 & December 2014 Recommendation: That the Oversight Board receive and file the attached Investment Report Summaries. Discussion - Attached are the Investment Report Summaries of Pooled Cash and Investments of the Successor Agency for August 2014, September 2014, October 2014, November 2014 and December 2014. Note that though such accounts include housing funds, all housing funds are held by the City as Successor Housing Agency. Prepared by: Attachments Barbara Leibold, Successor Agency Counsel Investment Report Summaries — August 2014 September 2014 October 2014 November 2014 December 2014 Page 1 CITY ©F ,,t LASE OLSINORE DREAM EXTREME, REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT M. YATES EXECUTIVE DIRECTOR DATE: SEPTEMBER 23, 2014 SUBJECT: SUCCESSOR INVESTMENT REPORT — AUGUST 2014 Recommendation Staff recommends that the Members of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Investment Report for August 2014. Discussion The Investment Report is a listing of all funds invested for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Although the report includes the housing fund account, all housing funds are held by the City as the Successor Housing Agency. ' Prepared By: Nancy L. Lassey Finance Administrator Approved By: Jason P. Simpson Director of Administrative Services Approved By: Grant M. Yates Executive Director Attachments: Investment Report for August 2014 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF AUGUST 31, 2014 ACTIVE ACCOUNTS Bank of America - Successor Agency General Total Active Accounts BANK BALANCE $ 420,411 420.411 $ DEPOSITS OUTSTANG, BOOK $ (3,750) $ 416,661 416,661 INVESTMENTS Successor: Successor Local Agency Investment Fund 4,831,543 4,831,543 Successor CAMP Pool Account 64,164 64,164 Successor U.S. Treasury Bond I Notes 2,306,671 2,306,671 Successor Federal Agency Bond / Notes 1,296,961 1,296,961 Successor Corporate Notes 1,518,285 1,518,285 Sub -total Investments 10,017,623 - 10,017,623 Unrealized Gain/ (Loss) at 6-30-13 (LAIF SUC) 3,283 - 3,283 Unrealized Gain! (Loss) at 6-30-13 (CAMP SUC) t67,913} _ (67,913) Total Unrealized Gain/ (Loss) at 6-30-13 per GASB 3' — (64,630) (64,630) Total Investments 9,952,993 9,952,993 $ 10,373.404 $ $ (3JL50a $ 10,369.654 Cashier Drawers #1 & #2 0.00 City of Lake Elsinore Petty Cash Fund TOTAL POOLED CASH AND INVESTMENTS $ 10,309,55, I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the Members of Successor Agency of the Redevelopment Agency on November 12, 2013. A copy of this policy is available in the office of the City Clerk. The pooled Investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson September 15, 2014 Director of Administrative Services Date SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING AUGUST 31, 2014 Interest Rate Purchase Date Maturity Rate 0.260% Daily 24 -Hour Beginning Balance Net Increase/Decrease Fndinq Balance $ 8,831,543 $ (4,000,000) $ 4,831,543 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE POOLED CASH AND INVESTMENTS BY FUND AS OF AUGUST 31, 2014 FUND NAME Area I Area II Area III Housing Stadium Trust Fund Total Pooled Cash & Investments "Amount due from Successor Agency Housing Fund held by the City AMOUNT $ 3,991,880 4,969,400 1,032,256 (197,915) 574,034 $ 10,369,654 CITY OF LADE LS I RO I DREAM EXTREME. REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT M. YATES EXECUTIVE DIRECTOR DATE: DECEMBER 9, 2014 SUBJECT: SUCCESSOR INVESTMENT REPORT -- SEPTEMBER 2014 Recommendation Staff recommends that the Members of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Investment Report for September 2014. Discussion The Investment Report is a listing of all funds invested for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Although the report includes the housing fund account, all housing funds are held by the City as the Successor Housing Agency. Prepared By: Nancy L. Lassey Finance Administrator Approved By: Jason P. Simpson Director of Administrative Services Approved By: Grant M. Yates Executive Director Attachments: Investment Report for September 2014 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF SEPTEMBER 30, 201.4 I certify that this report accurately reflects all pooled investments and it is in conformity with the Investment policy as approved by the Members of Successor Agency of the Redevelopment Agency on November 12, 2013. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson November 24, 2014 Director of Administrative Services Date BANK DEPOSITS OUTSTANG. BOOK ACTIVE ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank of America - Successor Agency General $ 340,673 $ $ (51,711) $ 288,962 Total Active Accounts - (51,711) 288,962 340,673 INVESTMENTS Successor: Successor Local Agency Investment Fund 4,381,543 4,381,543 Successor CAMP Pool Account 70,376 70,376 Successor U.S. Treasury Bond / Notes 2,356,725 2,356,725 Successor Federal Agency Bond / Notes 1,296,961 1,296,961 Successor Corporate Notes 1,418,196 1,418,196 Sub -total Investments 9,523,801 - 9,523,801 Unrealized Gain/ (Loss) at 6-30-14 (LAIF SUC) 3,236 3,236 Unrealized Gain/ (Loss) at 6-30-14 (CAMP SUC) 3,783 - 3.783 Total Unrealized Gain/ (Loss) at 6-30-14 per GASB 31 7,018 7,018 Total Investments 9,530,819 - 9,530,819 $ 9,871,493_ $ - $ (51.711) $$ 9.819.782 Cashier Drawers #1 & #2 0.00 City of Lake Elsinore Petty Cash Fund 0.00 TOTAL POOLED CASH AND INVESTMENTS $ 9.819.782 I certify that this report accurately reflects all pooled investments and it is in conformity with the Investment policy as approved by the Members of Successor Agency of the Redevelopment Agency on November 12, 2013. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson November 24, 2014 Director of Administrative Services Date SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING SEPTEMBER 30, 2014 Interest Rate 0.246% Beginning Balance $ 4,831,543 Purchase Date Daily Net Increase/Decrease $ (450, 000) Maturity Rate 24 -Hour Ending Balance $ 4,381,543 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE POOLED CASH AND INVESTMENTS BY FUND AS OF SEPTEMBER 30, 2014 FUND NAME Area I Area II Area III Housing Stadium Trust Fund Total Pooled Cash & Investments "Amount due from Successor Agency Housing Fund held by the City AMOUNT $ 3,264,337 4,684, 761 949,726 458,980 461,977 $ 9,819,782 CITY OF ,jt,�R LAKE L5INOR-E DREAM EXTREME,. REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT M. YATES EXECUTIVE DIRECTOR DATE: DECEMBER 9, 2014 SUBJECT: SUCCESSOR INVESTMENT REPORT — OCTOBER 2014 Fie commendation Staff recommends that the Members of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Investment Report for October 2014. The Investment Report is a listing of all funds invested for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Although the report includes the housing fund account, all housing funds are held by the City as the Successor Housing Agency. Prepared By: Nancy L. Lassey Finance Administrator Approved By: Jason P. Simpson Director of Administrative Services Approved By: Grant M. Yates Executive Director Attachments: Investment Report for October 2014 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF OCTOBER 31, 2014 ACTIVE ACCOUNTS Bank of America - Successor Agency General Total Active Accounts INVESTMENTS. Successor: Successor Local Agency Investment Fund Successor CAMP Pool Account Successor U.S. Treasury Bond / Notes Successor Federal Agency Bond / Notes Successor Corporate Notes Sub -total Investments Unrealized Gain/ (Loss) at 6-30-14 (LAIF SUC) Unrealized Gain/ (Loss) at 6-30-14 (CAMP SUC) Total Unrealized Gain/ (Loss) at 6-30-14 per GASB 31 Total Investments Cashier Drawers #1 & #2 City of Lake Elsinore Petty Cash Fund TOTAL POOLED CASH AND INVESTMENTS BANK DEPOSITS OUTSTANG. BOOK BALANCE IN TRANSIT CHECKS BALANCE $ 523,583 $ - $ (142,501) $ 381,082 - (142,501) 381.082 523,583 3,885,807 - 3,885,807 11,104 - 11,104 2,312,536 2,312,536 1,402,959 1,402,959 1,418,196 1,418,196 9,030,602 9,030,602 3,236 3,236 3,783 3,783 7,018 7.018 9,037,621 - 9,037,621 $ 9.561204 $ - 142,501 $ 9,418,703 0.00 $ 9,418,703 I certify that this report accurately reflects all pooled investments and it is in conformity with the investrnent policy as approved by the Members of Successor Agency of the Redevelopment Agency on November 12, 2013. A copy of this policy is available in the office of the City Cleric. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson December 2, 2014 Director of Administrative Services Date SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING OCTOBER 31, 2014 Interest Rata Purchase Date Maturity Rate 0.261% Daily 24 -Hour PgAinning Balance Net In reasQlDeCrease Ending Balance $ 4,381,543 $ (495,735) $ 3,885,807 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE POOLED CASH AND INVESTMENTS BY FUND AS OF OCTOBER 31, 2014 FUND NAME Area I Area II Area III Housing Stadium Trust Fund Total Pooled Cash & Investments * Amount due from Successor Agency Housing Fund held by the City AMOUNT $ 3,268,341 4,683,110 948,075 458,980 60,196 $ 9,418,703 CITY ®F s^n LADE L IRORX DREAM EXTREME. REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT M. YATES EXECUTIVE DIRECTOR DATE: JANUARY 13, 2015 SUBJECT: SUCCESSOR INVESTMENT REPORT — NOVEMBER 2014 Recommendation Staff recommends that the Members of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Investment Report for November 2014. Discussion The Investment Report is a listing of all funds invested for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Although the report includes the housing fund account, all housing funds are held by the City as the Successor Housing Agency. Prepared By: Nancy L. Lassey Finance Administrator Approved By: Jason P. Simpson Director of Administrative Services Approved By: Grant M. Yates Executive Director Attachments: Investment Report for November 2014 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF NOVEMBER 30, 2014 ACTIVE ACCOUNTS Bank of America - Successor Agency General Total Active Accounts INVESTMENTS Successor: Successor Local Agency Investment Fund Successor CAMP Pool Account Successor U.S. Treasury Bond / Notes Successor Federal Agency Bond / Notes Successor Corporate Notes Sub -total Investments Unrealized Gain/ (Loss) at 6-30-14 (LAIF SUC) Unrealized Gain/ (Loss) at 6-30-14 (CAMP SUC) Total Unrealized Gain/ (Loss) at 6-30-14 per GASB 31 Total Investments Cashier Drawers #1 & #2 City of Lake Elsinore Petty Cash Fund TOTAL POOLED CASH AND INVESTMENTS BANK DEPOSITS OUTSTANG. BOOK BALANCE IN TRANSIT CHECKS BALANCE $ 381,082 $ - $ (51,711) $ 329,371 (51,711) 329,371 381,082 3,885,807 3,885,807 12,309 12,309 2,312,536 - 2,312,536 1,402,959 1,402,959 1,418,196 - 1,418,196 9,031,808 - - 9,031,808 3,230 3,236 3,783 - 3,783 7,018 7,018 9,038,826 - 9,038,826 $ 9,419,908 $ - $ {51,711] $ 9,368.197 0.00 $ 9.368.197 I certify that this report accurately reflects all pooled Investments and it is in conformity with the investment policy as approved by the Members of Successor Agency of the Redevelopment Agency on November 12, 2013. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson December 17, 2014 Director of Administrative Services Date µ SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING NOVEMBER 30, 2014 Interest Rate 0.261% Beainni_n_g Balance 3,885,807 Purchase Date Daily Net Increase/Decreose Mat lriy Rate 24 -Hour Ending Balance $ 3,885,807 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE POOLED CASH AND INVESTMENTS BY FUND AS OF NOVEMBER 30, 2014 FUND NAME AMOUNT Area 1 $ 3,269,546 Area 11 4,683,110 Area III 948,075 Housing 458,980 Stadium Trust Fund 8,485 Total Pooled Cash & Investments $ 9,368,197 "Amount due from Successor Agency Housing Fund held by the City CITY OF L AK -E 6,LSINOKE DREAM EXTREME. REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT M. YATES EXECUTIVE DIRECTOR DATE: JANUARY 27, 2015 SUBJECT: SUCCESSOR INVESTMENT REPORT — DECEMBER 2014 Recommendation Staff recommends that the Members of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore receive and file the Investment Report for December 2014. Discussion The Investment Report is a listing of all funds invested for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Although the report includes the housing fund account, all housing funds are held by the City as the Successor Housing Agency. Prepared By: Nancy L. Lassey Finance Administrator Approved By: David Bilby Finance Manager Approved By: Grant M. Yates Executive Director Attachments: Investment Report for December 2014 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF DECEMBER 31, 2014 t certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the Members of Successor Agency of the Redevelopment Agency on November 12, 2013. A copy of this policy Is available In the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expendltures. Jason P- Simpson January 21. 2015 Director of Administrative Services Date BANK DEPOSITS OUTSTANG. BOOK ACTIVE ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank of America - Successor Agency General $ 301,550 $ $ (51,711) $ 249,839 Total Active Accounts - (51,711) 249,839 301,550 INVESTMENTS Successor - Successor Local Agency Investment Fund 3,885,807 3,885,807 Successor CAMP Pool Account 13,961 13,961 Successor U.S. Treasury Bond / Notes 2,162,343 2,162,343 Successor Federal Agency Bond / Notes 1,554,663 1,554,663 Successor Corporate Notes 1,418,196 _ 1,418,196 Sub -total Investments 9,034,970 9,034,970 Unrealized Gain/ (Loss) at 6-30-14 (LAIF SUC) 3,236 3,236 Unrealized Gain/ (Loss) at 6-30-14 (CAMP SUC) 3,783 - 3,783 Total Unrealized Gain/ (Loss) at 6-30-14 per GASB 31 7,018 7,018 Total investments 9,041,988 - - 9,041,988 9 343 53s - 9.291,827 Cashier Drawers #1 & #2 0.00 City of Lake Elsinore Petty Cash Fund 0.00 TOTAL POOLED CASH AND INVESTMENTS $ 11291 _827 t certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the Members of Successor Agency of the Redevelopment Agency on November 12, 2013. A copy of this policy Is available In the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expendltures. Jason P- Simpson January 21. 2015 Director of Administrative Services Date SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING DECEMBER 31, 2014 Interest Rate Purchase Date Maturity Rate 0.267% Daily 24 -Hour Beginning Balance Net IncreaselDecggese Ending Balance $ 3,885,807 $ $ 3,885,807 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE POOLED CASH AND INVESTMENTS BY FUND AS OF DECEMBER 31, 2014 FUND NAME AMOUNT Area i $ 3,195,527 Area II 4,693,219 Area 111 944,101 Housing 458,980 Total Pooled Cash & Investments $ 9,291,827 ' Amount due from Successor Agency Housing Fund held by the City Agenda Date: 2/24/2015 In Control: Oversight Board Agenda Number: 4) City of Lake Elsinore Text File File Number: ID# 14-473 Version: 1 130 South Main Street Lake Elsinore, CA 92530 www lake-elsinore org Status: Business File Type: Report City of Lake Elsinore Page 1 Printed on 212012015 OVERSIGHT BOARD OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: CHAIRMAN OSTER AND MEMBERS OF THE OVERSIGHT BOARD FROM: BARBARA LEIBOLD, SUCCESSOR AGENCY COUNSEL DATE: FEBRUARY 24, 2015 SUBJECT: Recognized Obligation Payment Schedule [ROPS 15-16A] For JuIV 1 2015 Through December 31. 2015 Recommendation It is recommended that the Oversight Board approve and adopt: Resolution No. OB -2015-001 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 15-16A) FOR JULY 1, 2015 THROUGH DECEMBER 31, 2015 SUBJECT TO APPROVAL THEREOF BY THE SUCCESSOR AGENCY. Backqround As part of the dissolution of the former Redevelopment Agency, Health and Safety Code Section 34177 (added by AB 1X 26 and amended by AB 1484) requires the Successor Agency to adopt and the Oversight Board to approve a Recognized Obligation Payment Schedule (ROPS) that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for each six month period of each fiscal year. The Successor Agency has previously adopted ROPS for prior six-month periods. The previous ROPS have been approved by the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore and the State Department of Finance (DOF). Discussion AB 1484 requires that the ROPS for July 2015 through December 2015 be submitted to DOF and the State Controller's office, after approval by the Oversight Board, no later than March 3, 2015. The DOF has five (5) days after submittal to request a review and forty-five (45) days to review the ROPS if it decides to do so. If the ROPS is not submitted by the deadline, the City is subject to a $10,000 fine for every day Approval of ROPS 15-16A February 24, 2015 Page 2 the ROPS is late and the administrative cost allowance for the Successor Agency is reduced by 25% after 10 days. The attached ROPS 15-16A for the period July 1, 2015 — December 31, 2015 follows the form prescribed by the DOF and incorporates all of the remaining obligations identified in the previous ROPS. Prepared By: Barbara Leibold, Successor Agency Counsel Attachments: Oversight Board Resolution No. OB- 2015-001 Recognized Obligation Payment Schedule of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore for the period of July 1, 2015 through December 31, 2015 (ROPS 15-16A) RESOLUTION NO. OB 2015-001 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 15-16A) FOR JULY 1, 2015 THROUGH DECEMBER 31, 2015 WHEREAS, the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore ("Oversight Board") has been established to direct the Successor Agency to take certain actions to wind down the affairs of the former Redevelopment Agency of the City of Lake Elsinore in accordance with the California Health and Safety Code; and WHEREAS, Health and Safety Code Section 34169 requires the Successor Agency to prepare and adopt a "Recognized Obligation Payment Schedule" that lists all obligations of the former redevelopment agency that are enforceable within the meaning of subdivision (d) of Section 34167 for six month periods, including July 2015 through December 2015; and WHEREAS, AB 1484 requires that the ROPS 15-16A for the period July 1, 2015 through December 31, 2015 must be submitted to the Department of Finance and the State Controller's office, after approval by the Oversight Board, no later than March 3, 2015 or be subject to penalties; and WHEREAS, on February 24, 2015, the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore will consider approval of the Recognized Obligation Payment Schedule 15-16A for the period of July 1, 2015 through December 31, 2015; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW, THEREFORE, THE OVERSIGHT BOARD OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1. The Recitals set forth above are true and correct and incorporated herein by reference. SECTION 2. The Oversight Board hereby approves the Schedule submitted concurrent herewith as the Recognized Obligation Payment Schedule 15-16A for July 1, 2015 through December 31, 2015 subject to the approval thereof by the Successor Agency. Pursuant to Health & Safety Code Section 34173, the Successor Agency's liability, including, but not limited to, its liability for the obligations on the attached schedule, is limited to the total sum of property tax revenues it receives pursuant to Part 1.85 of AB X1 26. OVERSIGHT BOARD RESOLUTION NO. OB 2015-001 Page 2 SECTION 3. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Oversight Board hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. SECTION 4. This Resolution shall take effect from and after the date of its passage and adoption. PASSED; -APPROVED AND ADOPTED at a regular meeting of- the Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, held this 24th day of February, 2015. Dave Oster, Chairperson, Oversight Board to the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore ATTEST. Virginia J. 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L L o m a`ni a�'i a`ni a�'i m v m ,�) a Y a) +• to o��'D'D c c>> c O o C v) c c E =� O— o a) a)L- c 0 L 0 Ln y- ry+ U U U U U ,� a U. 0N O N .L-- J p p 0 C c C C C C O C U O m O 01 N _ ` O 0 O O rn U U> E 0 0 0 0 Lv) 0 U OI N O C E Lu E O C C C m L) N w aa)) w I a) .� cm '°� c >o °' 0 D o C °) G C Q G D O J '2 0 m c Ln O L 'n U U O Z a) E E E E E E Q E L C L m L O m !- O m co N w.¢Q Q¢Q < H na H� N o p ccc N M It M LD f-- M O N M e m 00 0) O N M 00 N Cl) 'T Ln Mr-- 00 O N N N N M M Cl) Cl) Cl) cr) Cl) co E N d Y CITY C: L}{E L LS1 I I I DREAM EXmr�ir Tuesday, February 24, 2015 City of Lake Elsinore Regular Agenda Oversight Board DAVE OSTER, CHAIR GENIE KELLEY, VICE CHAIR GEORGE LANDON, BOARD MEMBER NANCY LASSEY, BOARD MEMBER MICHAEL WILLIAMS, BOARD MEMBER BRIAN TISDALE, BOARD MEMBER PHIL WILLIAMS, BOARD MEMBER 3:45 PM LAKE-ELSINORE.ORG (951) 674-3124 PHONE CULTURAL CENTER 183 N. MAIN STREET LAKE ELSINORE, CA 92530 Cultural Center The agenda is posted 72 hours prior to each meeting outside of the Lake Elsinore City Hall located at 130 South Main Street and is available at each meeting. The agenda and related reports are also available at the Lake Elsinore City Clerk's Department on the Friday prior to the Oversight Board meeting and are available on the City's website at www.lake-elsinore.org. Any writing distributed within 72 hours of the meeting will be made available to the public at the time it is distributed to the Oversight Board. In compliance with the Americans with Disabilities Act, any person with a disability who requires a modification or accommodation in order to participate in a meeting should contact the Community Development Department at (951) 674 -3124, ext. 269, at least 48 hours before the meeting to make reasonable arrangements to ensure accessibility. CALL TO ORDER - 3:45 P.M. PLEDGE OF ALLEGIANCE PRESENTATIONS - None PUBLIC COMMENTS - NON AGENDIZED ITEMS - 3 MINUTES (Please read & complete a Request to Address the Oversight Board form prior to the start of the meeting and submit it to the Clerk. The Chairperson or Cleric will call on you to speak when your item is called.) CONSENT CALENDAR ITEM(S) 1) ID# 14-470 Approval of Minutes Recomnt@ndatlon: It is recommended that the Oversight Board approve the minutes of the Regular Meeting of September 23, 2014. Attachments: OB SR- Approving Minutes 9-23-2014 OB Minutes of 9-23-2014 City of Lake Elsinore Page 1 Printed on 212012015 Oversight Board Regular Agenda February 24, 2015 2) ID# 14-471 Warrant Lists Recommendation: That the Oversight Board receive and file the attached Warrant lists. Attachments: OB SR- Warrant Lists 022415 Warrant List Attachment 022415 3) ID# 14-472 Investment Report - August 2014, September 2014, October 2014, November 2014 & December 2014 Recommendation: That the Oversight Board receive and file the attached Investment Report Summaries. Attachments: OB SR- Investment Report 022415 Investment Report Attachment 022415 BUSINESS ITEM(S) 4) ID# 14-473 Recognized Obligation Payment Schedule (ROPS 15-16A) For July 1, 2015 Through December 31, 2015 Recommendation: It is recommended that the Oversight Board approve and adopt: Resolution No. OB -2015-001 A RESOLUTION OF THE OVERSIGHT BOARD TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE (ROPS 15-16A) FOR JULY 1, 2015 THROUGH DECEMBER 31, 2015 SUBJECT TO APPROVAL THEREOF BY THE SUCCESSOR AGENCY. Attachments: OB Staff Report - Adoption of July - December 2015 ROPS 15-16A OB Reso #2015-001 Re ROPS 15-16A 022415 Lake Elsinore ROPS 15-16A Dv5 STAFF COMMENTS BOARD MEMBER COMMENTS ADJOURNMENT The next regular quarterly Oversight Board meeting will be held on Tuesday, June 9, 2015, at 3:45 p.m. at the Cultural Center, 183 N. Main Street, Lake Elsinore, CA 92530. AFFIDAVIT OF POSTING I, Virginia J. Bloom, Clerk of the Oversight Board, do hereby affirm that a copy of the foregoing agenda was posted at City Hall, 72 hours in advance of this meeting. Virginia J. Bloom, Clerk of the Oversight Board City of Lake Elsinore Page 2 Printed on 2/20/2015