CC SR 20170207 D - City November Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 02/07/2017
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the November 2016 Cash
Balances/Monthly Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the November 2016 Cash Balances/Monthly Treasurer's Report.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Jane Lin, Accountant 7(—
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, City Manager ".,�,1-1
ATTACHED SUPPORTING DOCUMENTS:
A. Monthly Treasurer's Report (page A-1)
BACKGROUND AND DISCUSSION:
This report summarizes the cash balance of all funds, as well as investments, for the
month of November 2016. A separate report is prepared monthly for the Improvement
Authority, and is presented under separate cover before the Authority Commission.
The overall cash balances of the City totaled $63,855,799, with more than $38.3 million
or 60% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $3.9 million or 6% of the total cash balance with Bank of the West, and over $3.8
million or 6% with Malaga Bank. In the month of November 2016, the City purchased
additional 7 Certificates of Deposit (CD) for a total of $1,750,000. The City now has total
CD investments of $16.5 million or 26% of total cash balance. The securities are held by
the Bank of New York and are FDIC insured.
In summary, the City's General Fund is over $12 million or 20% of the total cash
balance, and Capital Improvement Projects (CIP) Fund is over $29 million or 46% of the
total cash balance. Overall, the City cash balance decreased by almost $1.2 million
from last month, and in comparison to the same period last year, the cash balance
decreased by more than $0.8 million.
1
The major variances as compared to last year are timing disbursements in the General
Fund, for which there was a disbursement to cover two months' Sheriff's services.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2016
(1) All LAW interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Bank
Malaga
72,862 37
ICMA&HSA
30,212 42
Retirement Health Savings Withholdings
YTD INT
Flexible Spending Accounts
of the West
Bank
2.96628
INVESTMENT
INVESTMENT
OPERATING
OPERATING
PETTY CASH LAIF-CITY
CDARS
CD
TOTAL CASH
RECEIVED
BEGINNING BALANCE
3,387,571 21
3,818,027 78
3,000 00 41,836,571 72
1,250,000 00
14,750,031 51
65,045,202 22
PLUS: DEPOSITS
1,891,331 67
1,891,331 67
PLUS: INTERESTEARNINGS(1)
000
74,18689
LESS: CHECK DISBURSEMENTS
(2,521,121 82)
(2,521,121.82)
LESS: ELECTRONIC DISBURSEMENTS(2)
(549,80043)
(549,80043)
ADJUSTMENTS(3)
(9,812 17)
(9,81217)
PLUS: TRANSFERS IN
3,500,00000
1,750,00000
5,250,000.00
LESS: TRANSFERS OUT
(1,750,000.00)
(3,500.000.OD)
(5,250.000.00)
ENDING BALANCE
3.948.168 46
3,818,027 78
3.00000 38,336,571 72
1.250.000.00
16,500.031.51
63.855 799.47
74,186.89
(1) All LAW interest is paid quarterly
(2) Electronic Disbursements:
Payroll
428,970 63
CalPers
72,862 37
ICMA&HSA
30,212 42
Retirement Health Savings Withholdings
10,358 34
Flexible Spending Accounts
4,41039
Bank and Merchant Fees
2.96628
549,800 43
(3) The net adjustment was due to a void check, and other deposit adjustment
NOVEMBER 2016 CASH BALANCE BY MAJOR FUNDS
■ GENERAL FUND
■ CIP
■ EQUIPMENT REPLACEMENT
1911 ACT
HABITAT RESTORATION
QUIMBY
WATER QUALITY FLOOD
PROTECTION
■ OTHER RESTRICTED FUNDS
A-1
CASH BALANCES BY FUND
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2016
Change In Cash Balance
BALANCE Ending Cash from Previous
FORWARD DEBIT CREDIT CASH Balance Month -End
Unrestricted
GENERALFUND
14.369,668 35
1,596,106.46
3,214,345.63
12.751,449.18
(1,618,23917)
11%
Restricted by Council Action
BEAUTIFICATION FUND
476,636 93
000
000
476,636 93
0 00
0%
CIP
28,890,08732
1,300,00000
921,48879
29,268.59853
378,51121
1%
EQUIPMENT REPLACEMENT
2,945,72545
000
10,600.32
2,935,12513
(10,60032)
0%
BUILDING REPLACEMENT
067
000
0.00
067
000
OR
EMPLOYEE BENEFITS
864,068.96)
504,21242
627,51362
(987,37016)
(123,30120)
14%
Subtotal
31.448,381 41
1,804,21242
1,559,602.73
31.692,99110
244,6.09.69
1%
Restricted by Law or External A encies
STREET MAINTENANCE
1,273,779 97
132,739 46
55,664 04
1,350,835 39
77,055 42
6%
1972 ACT
11,872.52
1,82399
000
13,696 51
1,82399
15%
EL PRADO
25,319.30
3701 _
0.00
25,356 31
3701
0%
CDBG
25,491 00
93500
8,615.00
17.811 00
(7,680 00)
30%
CDBG-R
000
000
000
000
0.00
0%
1911 ACT
1,776,97887
10,07690
30,021 64
1,757,03413
(19,94474)
1%
SOLID WASTE
465,620.23
6,711 25
18,944 54
455.586 94
(10.23329)
2%
AIR QUALITY MANAGEMENT
82,124.76
000
000
82.124 76
000
0%
PROPOSITION C
499,234.89
57,819 64
000
557,054.53
57,819 64
12%
PROPOSITION
328,01576
69,70642
0.00
397,72218
69,706.42
21%
PUBLIC SAFETY GRANTS
90,141,22
24,739.22
25,000.00
89,88044
(26078)
0%
MEASURE R
1,768,425 54
43,499 52
000
1,831,925 06
43,499 52
2%
HABITAT RESTORATION
1,305,189 31
4,76900
37,762 00
1,272,196 31
(32,993 00)
3%
SUBREGION 1 MAINTENANCE
781,322.17
000
2.828.71
778,49346
(2,82871)
0%
MEASURE A MAINTENANCE
39,904 69
000
22,500 00
17,404 69
(22,500 00)
56%
ABALONE COVE SEWER DISTRICT
44,805.83
52,000 00
4,98547
91,820 36
47,014 53
100%
RPVTV
000
000
000
000
000
0%
GINSBURG CULTURE ARTS BUILDING
85.849 62
000
000
85,849 62
000
0%
DONOR RESTRICTED CONTRIBUTIONS
880,14615
1,50000
1,38908
880,25907
11092
0%
QUIMBY
2,406.227.88
16,976 20
000
2.423.204 08
16,976 20
1%
LOW -MODERATE INCOME HOUSING
96,904.42
0.00
000
96,904.42
000
0%
AFFORDABLE HSNG IN LIEU
590,201 36
D.00
0.00
590,201 36
000
07.
EET
255,442 35
000
0 00
255,442 35
000
0%
MEASURE A CAPITAL
7,440.11
0.00
0.00
7,44011
000
0%
BIKEWAYS
0.00
000
0.00
000
000
0%
UNDERGROUND UTILITIES
000
000
000
0,00
000
W.R.
ROADWAY BEAUTIFICATION
0.00
0.00
0.00
0.00
000
0%
WATER QUALITY FLOOD PROTECTION
5,440,859.21
7,447.05
74,998.24
5,373,308.02
(67,551 19)
1
REDEVELOPMENT OBLIGATION RETIRE
446,986.53
0.00
000
446,986.53
000
0%
IMPROVEMENT DISTRICT 9
000
0.00
0,00
0.00
000
0%
SPECIAL TRUSTS
478,646 77
40,477 86
6,303 07
512.821 56
34,174.79
7%
Subtotal
19,227,132.46
473,258.52
289,031.79
19,411.359,19 1
184,22673
1%
GRAND TOTAL
65.045,202 22
3,873,577 40
5,062,980.15
63,855,799,47 1
(1,189.402.75)1
F.
Total Investment: 63,855, 799.47
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2016
Investment
Issuer of
Investment
Acquisition
Date
Term
Maturity
Date
Market
Value
Par
Value
Book
Value
Yield
Checking Accounts
Bank of the West
N/A
N/A
On Demand
$
3,948,168
N/A
$
3,948,166
0.00%
Checking Accounts
Malaga Bank
NIA
N/A
On Demand
$
3,818,028
NIA
$
3,618,028
0 25 %
Petty Cash
N/A
N/A
NIA
On Demand
$
3,000
N/A
$
3,000
0.00%
State of
Local Agency Investment Fund (LAIF-CITY) California
N/A
NIA
On Demand
$
3B,336,572
N/A
$
38,336,572
068%
CDARS - Malaga Bank
Malaga Bank
6/23/2016
26 weeks
12120/2016
250,000
$
250,000
030%
Citizens National
Bank
3/24/2016
52 weeks
3/23/2017
$
243,500
$
243,500
0,25%
Ever Bank
3/24/2016
52 weeks
3/23/2017
$
230,633
$
230,633
0 25 %
Flagstar Bank,
FSB
3/24/2016
52 weeks
3123/2017
$
243,500
$
243,500
0 25 %
Parke Bank
3/24/2016
52 weeks
3/23/2017
$
243,500
$
243,500
025%
Porsperity Bank
3/24/2016
52 weeks
312312017
11.867
$
11,867
025%
The Park
National Bank
3/24/2016
52 weeks
3/23/2017
$
27,000
$
27,000
0.25%
Citizens Sate
CD - Bank of New York (Vinking Sparks)
Bank
4/29/2016
18 Mos
10130/2017
$
250,000
$
250,000
0 75 %
First Bank Puerto
Rico
4/29/2016
18 Mos
10/30/2017
$
250,000
$
250,000
0 80 %
MB Financial
Bank
4/29/2016
30 Mos
1012912018
$
250,000
$
250,000
100%
United Bankers
Bank
5/2/2016
30 Mos
10/29/2018
$
250,000
$
250,000
100%
Comenity Capital
Bank
5/212016
36 Mos
5/2/2019
$
250,000
$
250,000
120%
Medallion Bank
Utah
51312016
30 Mos
11/5/2018
$
250,000
$
250,000
100%
Stander Bank
5/4/2016
12 Mos
5/4/2017
$
250,000
$
250,000
060%
TCF National
Bank
5/4/2016
18 Mos
11/6/2017
$
250,000
S
250,000
070%
Israel Discount
Bank of NY
5/4/2016
24 Mos
5/4/2018
$
250,000
$
250,000
1 05 %
Goldman Sachs
Bank USA
5/4/2016
36 Mos
5/6/2019
$
250,000
$
250,000
125%
Capital One
Bank USA
5/4/2016
36 Mos
5/6/2019
$
250,000
$
250,000
1.20%
Wells Fargo
Bank
5/4/2016
36 Mos
5/6/2019
$
250,000
$
250,000
125%
Safra National
Bank
5/4/2016
18 Mos
11/6/2017
$
250,000
$
250,000
080%
Bank Leumi USA
NY
5/5/2016
12 Mos
5/5/2017
$
250,000
$
250,000
0.70%
Investors
Bank/Short Hills
5/5/2016
24 Mos
5/4/2018
$
250,000
$
250,000
100%
Ally Bank
5/5/2016
30 Mos
11/5/2016
$
250,000
$
250,000
110%
Marlin Business
Bank
5/6/2016
24 Mos
5/7/2018
$
250,000
$
250,000
100%
Key Bank
5/11/2016
24 Mos
5/11/2018
$
250,000
$
250,000
100%
Beal Bank USA
5/11/2016
12 Mos
5/10/2017
$
250,000
$
250,000
0.70%
Bank of India NY
5/12/2016
12 Mos
5110/2017
$
250,000
$
250,000
0 70 %
Cil Bank NA
5/31/2016
12 Mos
5/31/2017
$
250,000
$
250,000
0 65 %
BMW Bank North
America
5/27/2016
36 Mos
5/28/2019
$
250,000
$
250,000
1 15%
Pacific
Continental Bank
5/31/2016
36 Mos
5/31/2019
$
250,000
$
250,000
1 10%
Bank of America
NA
6/212016
12 Mos
6/2/2017
$
250,000
$
250,000
070%
Triad Bank
6/2/2016
46 Mos
4/2/2020
$
250,000
$
250,000
1.25%
BMO Harris Bank
NA
6/3/2016
12 Mos
612/2017
$
250,032
$
250,032
065%
Pacific Premier
Bank
6/3/2016
18 Mos
1215/2017
$
250,000
$
250,000
0 90 %
Community Bank
Chesapeake
6/8/2016
18 Mos
12/8/2017
$
250,000
$
250,000
085%
A-3
Franklin Synergy
Bank
6/10!2016
18 Mos
12/11/2017
$
250,000
$
250,000
085%
Firstrust Saving
Bank
6/10/2016
24 Mos
6/11/2018
$
250,000
$
250,000
1 00%
Farm Bureau
Bank
6/15/2016
24 Mos
6/15/2018
$
250,000
S
250,000
1.00%
Capstone Bank
6/15/2016
36 Mos
6/14/2019
$
250,000
S
250,000
1 20%
Capital Bank
Little Rock
6/22/2016
39 Mos
9/2 312 01 9
$
250,000
$
250,000
120%
Discover Bank
6/8/2016
36 Mos
6110/2019
$
250,000
$
250,000
1 15%
Celtic Bank
6/15/2016
36 Mos
6/14/2019
$
250,000
$
250,000
120%
Abacus Federal
Savings Bank
6/20/2016
39 Mos
9/17/2019
$
250,000
$
250,000
125%
Tab Bank Inc
7/1/2016
15 Mos
10/2/2017
$
250,000
$
250,000
080%
Luana Savings
Bank
7/8/2016
48 Mos
7/8/2020
$
250,000
$
250,000
115%
Wax Bank
7/8/2016
24 Mos
718/2018
$
250,000
$
250,000
095%
Communiy Finl
SVCS Bank
7/12/2016
36 Mos
7/12/2019
$
250,000
$
250,000
105%
First Western
Bank
7/15/2016
36 Mos
7/15/2019
$
250,000
$
250,000
100%
Signature Bank
of Arkansas
7/15/2016
48 Mos
7/15/2020
$
250,000
$
250,000
1 15%
Queensborough
National Bank
8/10/2016
24 Mos
8/1012018
$
250,000
$
250,000
090%
Carroll County
State Bank Iowa
6/12/2016
36 Mos
8/12/2019
$
250,000
$
250,000
100%
Everbank/
Jacksonville FL
8/12/2016
36 Mos
8/12/2019
S
250,000
$
250,000
1.15%
Freedom Bank of
Virginia
8/17/2016
12 Mos
8/16/2017
$
250,000
$
250,000
0.70%
Caldwell Bank &
Trust Co
8/19/2016
36 Mos
8/19/2019
$
250,000
S
250,000
100%
Live Oak
Banking
Company
8/19/2016
48 Mos
8/19/2020
$
250,000
$
250,000
1 25%
Capital Bank
Corp
8/31/2016
24 Mos
8131/2018
$
250,000
$
250,000
105%
Isabella Bank
9/7/2016
36 Mos
9/9/2019
$
250,000
$
250,000
1 15%
Bank of
China/New York
9/8/2016
12 Mos
9/8/2017
$
250,000
$
250,000
065%
Gold Coast
Bank/Chicago
9/9/2016
45 Mos
6/9/2020
$
250,000
$
250,000
1 15%
Bankers Bank of
the West
9/14/2016
36 Mos
9/13/2019
$
250,000
$
250,000
1 15%
Yadkin Bank
9/19/2016
36 Mos
9/19/2019
$
250,000
$
250,000
1 10%
Benificial Bank
10/7/2016
48 Mos
1 0/712 02 0
$
250,000
$
250,000
1 35%
Sallie Mae
Bank/Salt Lake
10/12/2016
36 Mos
1 0/1 512 01 9
$
250,000
$
250,000
130%
Winona Natinal
Bank
10/13/2016
12 Mos
1 0/1 312 01 7
$
250,000
$
250,000
075%
Capital One NA
10/13/2016
48 Mos
10/1312020
$
250,000
$
250,000
140%
Bank of New
England NH
10/21/2016
36 Mos
1 0/2112 01 9
$
250,000
$
250,000
120%
Midland Slate
Bank
11/2/2016
24 Mos
11/2/2018
S
250,000
$
250,000
1.10%
Home
Savings&Loan
11/18/2016
12 Mos
11/17/2017
S
250,000
S
250,000
080%
American Bank
Center
11/10/2016
24 Mos
11/9/2018
$
250,000
$
250,000
110%
Preferred Bank
La California
11/9/2016
36 Mos
11/8/2019
$
250,000
$
250,000
1 15%
Partners Bank
California
11/18/2016
36 Mos
11/18/2019
$
250,000
$
250,000
1 10%
Independent
Bk/Memphis
11/16/2016
37 Mos
1 2/1 612 01 9
$
250,000
$
250,000
1 15%
Synchrony Bank
11/4/2016
60 Mos
11/4/2021
$
250,000
$
250,000
170%
Total Investment: $ 63,855,799
Total Investment Weighted Average Return 07%
WE
2%
SUMMARY OF CASH BALANCE BY INSTITUTION
NOVEMBER 2016
NOTE:
(1) See footnote on the summary page
(2) LAIF market values will be reported to vary from took value if the City calculated share of total LAIF assets is less than the
City book value
To the best of my knowledge, there are no misstatements of material amounts within this report;
or omissions of material amounts to cause the report to be misleading
• Bank of the West
• Malaga Bank
State of California - LAIF
• Malaga Bank - CDARS
• Vining Sparks/Bank of New York - CD
I certify that this report accurately reflects all City investments and complies with the investment policy of the City
of Rancho Palos Verdes as approved by the City Council Furthermore, I certify that sufficient investment liquidity
and anticipated revenues are available to meet the City's expenditure requirements for the next six months
Respectfully submitted,
UA--
Treasixer Dated