Help debugging Apache rewritebase/ rewrite rule

Question

I try to access the following url on my site but get a 404 error: http://www.example.com/minify/1232681243/skin/frontend/default/default/css/boxes.css

My path on the server is public_html/example

My .htaccess file is as follows:

RewriteBase /
############################################
## workaround for HTTP authorization
## in CGI environment

RewriteRule .* - [E=HTTP_AUTHORIZATION:%{HTTP:Authorization}]

############################################
## Compress, Combine and Cache Javascript/CSS
RewriteRule ^(index.php/)?minify/([^/]+)(/.*.(js|css))$ /lib/minify/m.php?f=$3&d=$2

Is there something incorrect in my .htaccess file?