CC SR 20170516 N - Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 05/16/2017
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the March 2017 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the March 2017 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'/ -",,.,11-117
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 March 2017. 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 $65,694,660, with more than $32.9 million
or 50% of the balance in the Local Agency Investment Fund (LAIF). The City has $6
million or 9% of the total cash balance with Bank of the West, and over $3.8 million or
6% with Malaga Bank. In addition, the City has a total Certificates of Deposit (CD)
investments of $22.6 million or 35% 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 have over $14 million or 23% in cash balance, and
Capital Improvement Projects (CIP) Fund have over $27 million or 42% in cash balance.
Overall, the City cash balance increased by $67,812 from last month, and in
comparison to the same period last year, the cash balance increased by over $0.6
million.
1
The major variance as compared to last year is timing disbursements in the CIP Fund.
Per the Proposition A Assignment Agreement dated on October 10, 2016, between the
cities of Rancho Palos Verdes and Rolling Hills, the City received $75,000 from City of
Rolling Hills for its uncommitted fund at an exchange rate of $0.75 per $1.00. The
disbursement of $56,250 was made to City of Rolling Hills in April and it was expensed
from General Fund.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2017
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Bank
of the West
OPERATING
Malaga
Bank
OPERATING
INVESTMENT
PETTY CASH LAIF-CITY CDARS
INVESTMENT
CD
TOTAL CASH
YTD INT
RECEIVED
BEGINNING BALANCE
5,250,035 56
3,820,434 41
3,000 00 32,903,331 43 1,250,000 00
22,400,031 51
65,626,832 91
2,59719
PLUS: DEPOSITS
2,106,117 36
2,106,117 36
PLUS: INTEREST EARNINGS(1)
000
143,353.23
LESS: CHECK DISBURSEMENTS
(2,329,102 23)
(2,329,102 23)
LESS: ELECTRONIC DISBURSEMENTS(2)
(571,594 42)
(571,594 42)
ADJUSTMENTS(3)
859,910 27
859,910 27
PLUS: TRANSFERS IN
1,002,496 14
1,002,496 14
250,000 00
2,254,992 28
LESS: TRANSFERS OUT
(250,000.00)
(1,002,49614)
(1,000,000 00)
(2,252,49614)
ENDING BALANCE
6,067,862.68
3,820,434.41
3,000.00 32,903,33143 250,000.00
22..650.031.51
65.694,660.03
143.35323
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
449,763 29
CaFers
74,956 34
ICMA&HSA
30,143 64
Retirement Health Savings Withholdings
10,224 18
Flexible Spending Accounts
1,409.78
Postage
2,500.00
Bank and Merchant Fees
2,59719
571,594 42
(3) The net adjustment was due to void check, deposit adjustment, and system adjustment
MARCH 2017 CASH BALANCE BY MAJOR FUNDS
■ GENERAL FUND
■ CIP
Is EQUIPMENT REPLACEMENT
1911 ACT
HABITAT RESTORATION
QUIMBY
WATER QUALITY FLOOD
PROTECTION
■ OTHER RESTRICTED FUNDS
A-1
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2017
Change In Cash Balance
BALANCE Ending Cash from Previous
CASH BALANCES BY HIND FQRWARD DERIT CRFDIT CASH R.I.- Mnnfh-Fnd
unrestricted
GENERAL FUND
16,307,027.26
4,319,229.75
5,830,644,95
14,795,612,06
(1,511,415.20)
9%
Restricted by Council Action
BEAUTIFICATION FUND
477,150 65
27448
000
477 425.13
27448
0%
CIP
26.905,458 59
1,318,98691
423,95096
27,800.494.54
895,03595
3%
EQUIPMENT REPLACEMENT
2,676,086 19
83,737 13
29,669 38
2,730,153 94
54,067 75
2%
BUILDING REPLACEMENT
067
009
0 00
076
009
13%
EMPLOYEE BENEFITS
(295.60567)
610,86750
9,69188
305,58995
601,19562
10D%
Subtotal
29,763,090.43
2,013,88611
463.312.22
31.313,664.32
1.550.573.89
5%
Restricted by Law or External Agencies
STREET MAINTENANCE
728,048 32
141,823 64
57,794 29
812.077.67
84,029 35
12%
1972 ACT
105,003.79
26.22
30.960 72
74,069,29
(30,934.50)
29%
EL PRADO
26,634 03
24.96
000
26,658 99
2496
F.R.
CDBG
13,14800
000
105,152.50
(92,004.50)
(105,15250)
100%
CDBG-R
000
0.00
000
000
0.00
0%
1911 ACT
1,981,046,09
3,75583
76,66728
1,908,11464
(72,93145)
4%
SOLID WASTE
457.734 84
34.785 28
21,766 94
470,753 18
13,018 34
3%
AIR QUALITY MANAGEMENT
71,451 88
12,527 76
000
63,979 64
12,527 76
18%
PROPOSITION C
695,409 16
79,346.25
44,886 05
729,869.36
34,460 20
5%
PROPOSITION A
895,213, 53
147,893.04
000
1.043,106 57
147,893 04
17%
PUBLIC SAFETY GRANTS
121,379 98
4477
25,000.00
96,424 75
(24,955 23)
21%
MEASURER
1,959,763,50
45,87697
000
2,005,64047
45,876.97
2%
HABITAT RESTORATION
1,247,43052
749.86
000
1,248,180.36
749.86
0%
SUBREGION 1 MAINTENANCE
766,622.86
45108
45034
766,623 60
0.74
0%
MEASURE A MAINTENANCE
42,170 44
9.59
22.500 00
19,680 03
(22,490 41)
53%
ABALONE COVE SEWER DISTRICT
151,360 66
104,5.93.03
109,902 56
146,071 13
(5,309 53)
4%
RPVTV
000
000
0.00 1
000
0.00
0%
GINSBURG CULTURE ARTS BUILDING
85.942 15
4921
000 1
85,991 36
49.21
0%
DONOR RESTRICTED CONTRIBUTIONS
881,089.55
1,999.01
1,11150
661,977 06
887.51
0%
QUIMBY
2425.83-9.73
1,381 15
000
2,427,190 88
1.381 15
07.
LOW -MODERATE INCOME HOUSING
120,668.72
55.05
0,00
120,723 77
5505
0%
AFFORDABLE HSNG IN LIEU
590,83748
33831
0.00
591,17579
33831
0%
EET
293.573 04
14854
0.00
293,721:58
148.54
0%
MEASURE A CAPITAL
7,44011
000
000
7,44011
000
0%
BIKEWAYS
000
000
000
000
000
0%
UNDERGROUND UTILITIES
000
0.00
0.00
000
000
0%
ROADWAY BEAUTIFICATION
000
000
000
000
0.00
07
WATER QUALITY FLOOD PROTECTION
4.980,190 31
3,12471
77.15787
4,906,15715
(74,03316)
1%
REDEVELOPMENT OBLIGATION RETIRE
419,303 92
25859
000
419,562 51
251359
0%
IMPROVEMENT DISTRICT 9
000
000
000
000
000
0%
SPECIAL TRUSTS
489,422 61
38.135 00
15,359 37
512,198 24
22,775 63
5%
Subtotal
19,556,715.22
617,39785
588,72942
19,585,363.65
28,668.43
0%
GRAND TOTAL
65,626.832.91
6,950.513.71
6.882.686.59
65.694,660.03
67,827 12
0%
Total Investment: 65,694,660 03
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2017
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
$
6,067,863
NIA
$
6,067,863
0 00 %
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,820,434
N/A
$
3,820,434
025%
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
$
3,000
000%
State of
Local Agency Investment Fund (LAIF-CITY) California
N/A
N/A
On Demand
$
32,903,331
N/A
$
32,903,331
0 78 %
CDARS - Malaga Bank
Malaga Bank
12/20/2016
26 weeks
6/18/2017
250,000
$
250,000
0.30%
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
1 0130/2 01 7
$
250,000
$
250,000
0 80 %
MB Financial
Bank
4/29/2016
30 Mos
1 0/2912 01 8
$
250,000
$
250,000
100%
United Bankers
Bank
5/2/2016
30 Mos
10/29/2016
$
250,000
$
250,000
100%
Comenity, Capital
Bank
5/2/2016
36 Mos
5/2/2019
$
250,000
$
250,000
120%
Medallion Bank
Utah
5/3/2016
30 Mos
1115/2018
$
250,000
$
250,000
1.00%
Slander Bank
5/4/2016
12 Mos
5/4/2017
$
250,000
$
250,000
0 60 %
TCF National
Bank
5/4/2016
18 Mos
11/6/2017
$
250,000
S
250,000
0,70%
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
516/2019
$
250,000
S
250,000
1 25 %
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
5
250,000
$
250,000
125%
Safra National
Bank
5/4/2016
18 Mos
11/6/2017
$
250,000
$
250,000
0 80 %
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
1115/2018
$
250,000
$
250,000
1 10%
Marlin Business
Bank
5/6/2016
24 Mos
517/2018
$
250,000
$
250,000
1 00 %
Key Bank
5/11/2016
24 Mos
5111/2018
$
250,000
$
250,000
1 00 %
Beal Bank USA
5/11/2016
12 Mos
5/10/2017
$
250,000
$
250,000
0 70 %
Bank of India NY
5112/2016
12 Mos
5/10/2017
$
250,000
$
250,000
0 70 %
Cit Bank NA
5/31/2016
12 Mos
5/3112017
$
250,000
$
250,000
065%
BMW Bank North
America
5127/2016
36 Mos
5/28/2019
$
250,000
$
250,000
1 15%
Pacific
Continental Bank
5131/2016
36 Mos
5 /3 112 01 9
$
250,000
$
250,000
1.10%
Bank of America
NA
6/2/2016
12 Mos
6/212017
$
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
0 65 %
Pacific Premier
Bank
6/3/2016
18 Mos
12/5/2017
$
250,000
$
250,000
0.90%
Community Bank
Chesapeake
6/8/2016
16 Mos
12/8/2017
$
250,000
$
250,000
0.65%
Franklin Synergy
Bank
6/10/2016
18 Mos
1 2/1 11201 7
$
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
$
250,000
1 00 %
Capstone Bank
6/15/2016
36 Mos
6/14/2019
$
250,000
$
250,000
1 20 %
Capital Bank
Little Rock
6/22/2016
39 Mos
9/23/2019
$
250,000
$
250,000
1 20 %
Discover Bank
6/8/2016-
36 Mos
611012019
$
250,000
$
250,000
1 15%
A-3
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
1 25 %
Tab Bank Inc
7/1/2016
15 Mos
10/2/2017
$
250,000
$
250,000
080%
Luana Savings
Bank
7/8/2016
48 Mos
7/812020
$
250,000
$
250,000
1 15%
Wax Bank
7/8/2016
24 Mos
7/8/2018
$
250,000
$
250,000
0 95 %
Communiy Finl
SVCS Bank
7112/2016
36 Mos
7/12/2019
$
250,000
$
250,000
1.05%
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
1151%
Queensborough
National Bank
8/10/2016
24 Mos
8/1 012 01 8
$
250,000
$
250,000
090%
Carroll County
Stale Bank Iowa
8/12/2016
36 Mos
8112/2019
S
250,000
$
250,000
100%
Everbankl
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 /1 612 01 7
$
250,000
$
250,000
070%
Caldwell Bank &
Trust Co
8/19/2016
36 Mos
8/19/2019
$
250,000
$
250,000
1 00 %
Live Oak
Banking
Company
8/19/2016
48 Mos
6/19/2020
$
250,000
$
250,000
125%
Capital Bank
Corp
8/31/2016
24 Mos
8/31/2018
$
250,000
$
250,000
105%
Isabella Bank
917/2016
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
0 B5%
Gold Coast
Bank/Chicago
9/912016
45 Mos
6/9/2020
$
250,000
$
250,000
115%
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
110%
Benificial Bank
1017/2016
48 Mas
10/7/2020
$
250,000
$
250,000
135%
Sallie Mae
Bank/Salt Lake
1011212016
36 Mos
10/15/2019
$
250,000
$
250,000
130%
Winona Natinal
Bank
10/13/2016
12 Mos
10/13/2017
$
250,000
$
250,000
0 75 %
Capital One NA
10/13/2016
48 Mos
10/13/2020
$
250,000
$
250,000
140%
Rank of New
England NH
10/21/2016
36 Mos
10/21/2019
$
250,000
$
250,000
120%
Midland Slate
Bank
111212016
24 Mos
11/2/2018
$
250,000
S
250,000
1 10%
Home
Savings&Loan
11/18/2016
12 Mos
11/17/2017
$
250,000
$
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
1118/2019
$
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
12/16/2019
$
250,000
$
250,000
115%
Synchrony Bank
1114/2016
60 Mos
111412021
$
250,000
$
250,000
170%
Banc of
California
1/13/2017
12 Mos
1/12/2018
$
250,000
$
250,000
1 00%
Mbank of
Manistique MI
1/17/2017
12 Mos
1/17/2018
$
250,000
$
250,000
1 00%
First Federal
Bank of Dunn NC
1/20/2017
12 Mos
1/19/2018
$
250,000
$
250,000
0 90 %
Peoples
Bank/Magnolia
AR
1/20/2017
12 Mos
1/19/2016
S
250,000
$
250,000
090%
Greenfield
Savings Bank
1/20/2017
12 Mos
1/19/2018
S
250,000
$
250,000
090%
Gorham Savings
Bank ME
1/25/2017
12 Mos
1/25/2018
$
250,000
$
250,000
090%
Atlantic
Stewardship BK
1/13/2017
24 Mos
1/14/2019
$
250,000
$
250,000
140%
Flushing Bank
1/13/2017
24 Mos
1/14/2019
$
250,000
$
250,000
140%
MA
First National
Bank Paragould
1/16/2017
24 Mos
1/18/2019
$
250,000
$
250,000
135%
Little Bank
1/25/2017
24 Mos
1/25/2019
$
250,000
$
250,000
1.35%
Stearns Bank NA
1/13/2017
36 Mos
1/13/2020
$
250,000
$
250,000
160%
Whitney
Bank/MS
1/25/2017
36 Mos
1/27/2020
$
250,000
$
250,000
1.70%
Lakeside Bank
1/13/2017
42 Mos
7/13/2020
$
250,000
$
250,000
1 95%
Farmers&Merche
nts BK NEB
1/16/2017
60 Mos
1/18/2022
$
250,000
$
250,000
205%
Peoples United
Bank
1/18/2017
60 Mos
1/18/2022
$
250,000
$
250,000
205%
DMB Community
Bank
1/13/2017
15 Mos
4/13/2018
$
250,000
$
250,000
1.00%
Patriot Federal
Bank
1/20/2017
18 Mos
7/20/2018
$
250,000
$
250,000
105%
Wood America
Bank
1/13/2017
24 Mos
111412019
$
250,000
$
250,000
135%
Union Bank and
Trust/OX
1/20/2017
30 Mos
7/22/2019
$
250,000
$
250,000
145%
World Foremost
Bank
1/21/2017
36 Mos
1/21/2020
$
200,000
$
200,000
1 75%
First National
Bank of America
1/20/2017
60 Mos
1/2012022
$
250,000
$
250,000
200%
East Boston
Savings Bank
1/20/2017
60 Mos
1/20/2022
$
250,000
$
250,000
200%
Henry County
Bank OH
1/27/2017
60 Mos
1/27/2022
$
250,000
$
250,000
190%
JP MORGAN
CHASE BANK
2/15/2017
60 Mos
2/15/2022
$
200,000
$
200,000
2.30%
HSBC Bank USA
3121/2017
60 Mos
3/21/2022
$
250,000
$
250,000
245%
Total Investment: $ 65,694,660
Total Investment Weighted Average Return 08%
MR
SUMMARY OF CASH BALANCE BY INSTITUTION
MARCH 2017
NOTE:
(1) See footnote on the summary page
(2) LAIF market values will be reported to vary from book value if the City calculated share of total LAW 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,
-P, I l en
Tre u V Dated
T
M