CC SR 20170801 G - City June 2017 Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 08/01/2017
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the June 2017 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the June 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 and investments for the month of
June 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 $67,904,152.49, with more than $35.9
million or 53% of the balance in the Local Agency Investment Fund (LAIF). The City
has $4.7 million or 7% 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 total Certificates of Deposit
(CD) investments of $23.1 million or 34% of the total cash balance. The securities are
held by the Bank of New York and are FDIC insured.
In summary, the City's General Fund has over $16 million or 24% in cash balance, and
the Capital Improvement Projects (CIP) Fund has over $27 million or 40% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.5 million or 4%, over $2 million or 3% in the 1911 Act Fund, over $1.2 million or
2% in the Habitat Restoration Fund, over $2.4 million or 4% in the Quimby Fund, over
1
$4.7 or 7% million in the Water Quality Fund, and over $12.1 million or 16% in Other
Restricted Funds.
The City's cash balance decreased by almost $2 million from last month, and in
comparison to the same period last year, the cash balance decreased by almost $1
million. The major variance is from cash activities in the General Fund. The City
received $0.2 million less from General Fund revenues and increased disbursements by
$0.8 million as compared to the same period last year. Major disbursements included
over $1.4 million to Los Angeles County Sheriff for February, March, and April 2017
services and $143,380 to AZ Construction for the arterial overlay project.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2017
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Bank
Malaga
112,299 66
ICMA&HSA
45,967 39
Retirement Health Savings Withholdings
YTD INT
Flexible Spending Accounts
of the West
Bank
3.55562
INVESTMENT
INVESTMENT
OPERATING
OPERATING PETTY CASH
LAIF-CITY
CDARS
CD
TOTAL CASH
RECEIVED
BEGINNING BALANCE
9,957,607 60
3,822,797 06 3.00000
32,967,181 02
250,000 00
22,900,031 51
69,900,617 19
PLUS: DEPOSITS
2,182,05838
2,182,05838
PLUS: INTERESTEARNINGS(1)
000
209,56547
LESS: CHECK DISBURSEMENTS
(3,276,882 37)
(3,276,882 37)
LESS: ELECTRONIC DISBURSEMENTS(2)
(830,44922)
(830,449.22)
ADJUSTMENTS(3)
(71,191 49)
(71,191.49)
PLUS: TRANSFERS IN
3,000,000 00
250,000 00
3,250,000 00
LESS: TRANSFERS OUT
(3,250,000 00)
(3,250,ODO.00)
ENDING BALANCE
4,711.14290
3,822,79706 3,000.00
35,967,18102
250,000.00
23,150,03151
67.904,152.49
209,56547
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
652,529.95
CalPers
112,299 66
ICMA&HSA
45,967 39
Retirement Health Savings Withholdings
14,871 70
Flexible Spending Accounts
1,224.90
Bank and Merchant Fees
3.55562
830,449 22
(3) The net adjustment was due to void check, deposit adjustment, and system adjustment
JUNE 2017 CASH BALANCE BY MAJOR FUNDS
•GENERALFUND
• 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
JUNE 2017
Change In Change In
BALANCE Ending Cash Ending Cash
FORWARD DEBIT CREDIT CASH Balanra Balance in %
Unrestricted
GENERAL FUND
18,562,756.62
6,086,904,26
8.268,158.22
16.381,502.66
(2,181,253.96)
-12%
Restricted by Council Action
BEAUTIFICATION FUND
477,921.52
0,00
0.00
477,921.52
0.00
0%
CIP
27,426,931.78
6,977.25
18,975.74
27,414,933 29
(11.99849)
0%
EQUIPMENT REPLACEMENT
2,644,680.83
0.00
55,659.05
2,589,021.78
(55,659.05)
-2%
BUILDING REPLACEMENT
0.76
0.00
0.00
0.76
0.00
0%
EMPLOYEE BENEFITS
285,526 15
000
1,224.90
284,301.25
(1,224.90)
0%
Subtotal
30,835,06104
6,977.25
75,859.69
30,766,178.60
68,882.44
0%
Restricted by Law or External Agencies
STREET MAINTENANCE
645,438.28
76,419.58
24,774.05
697.083.81
51,645.53
8%
1972 ACT
112,576.49
0,00
4,182.36
108,394 13
(4,182.36)
-4%
EL PRADO
27,569.22
7.42
0.00
27,576.64
7.42
0%
CDBG
1,097.50
0.00
1,064.60
32.90(1,064.60).97%
CDBG-R
0.00
0.00
000
000
0.00
0%
1911 ACT
2,099,511.83
1,949.16
26,04022
2,073,420.77
(26,091.06)
-1%
SOLID WASTE
447,11574
57,922,75
29.128.30
475,910.19
28,794.45
6%
AIR QUALITY MANAGEMENT
98,348.14
0.00
0.00
98,348.14
0.00
0%
PROPOSITION C
399,265.66
61.813 15
000
461,078 81
61,813.15
15%
PROPOSITION A
2,157,439.48
74.525.15
0.00
2,231,964 63
74,525.15
3%
PUBLIC SAFETY GRANTS
96,537.41
000
0,00
96,537.41
0.00
0%
MEASURE R
2.078,404 92
46,351 12
0.00
2,124,756.04
46,351 12
2%
HABITAT RESTORATION
1,205,647.89
0.00
0-00
1,205,647 89
0-00
0%
SUBREGION 1 MAINTENANCE
764,488 88
0.00
48.23
764,440.65
48 23
0%
MEASURE A MAINTENANCE
117.910 09
0.00
0.00
117,910.09
000
0%
ABALONE COVE SEWER DISTRICT
139,129.49
0.00
11,11126
128,018 23
11,11126
-8%
RPVTV
0.00
000
0.00
0.00
0.00
0%
GINSBURG CULTURE ARTS BUILDING
66,080.77
0.00
000
86.080.77
0.00
0%
DONOR RESTRICTED CONTRIBUTION
881,131.88
1,500.00
114.84
882,517.04
1,385.16
0%
QUIMBY
2,429.714.47
0.00
000
2,429,714.47
0.00
0%
LOW -MODERATE INCOME HOUSING
120,849.31
19,607 31
000
140,456.62
19,607.31
16%
AFFORDABLE HSNG IN LIEU
591,790.44
0.00
0.00
591,790 44
0.00
0%
EET
301,523.67
0.00
000
301,523.67
0.00
0%
MEASURE A CAPITAL
7.44011
0.00
0.00
7.440.11
0.00
0%
BIKEWAYS
0..00
0.00
0.00
0.00
0.00
0%
UNDERGROUND UTILITIES
0.00
0.00
0.00
0.00
0.00
0%
ROADWAY BEAUTIFICATION
0.00
000
000
000
000
0%
WATER QUALITY FLOOD PROTECTIOt
4,780,107 59
23.68
7,214.82
4,772,916 45
7,191 14
0%
REDEVELOPMENT OBLIGATION RETIF
419,720.10
0.00
0.00
419,720.10
0.00
0%
IMPROVEMENT DISTRICT 9
000
0.00
0.00
0.00
0.00
0%
SPECIAL TRUSTS
493,960.17
25.139.00
5,90794
513,191.23
19,231.06
4%
Subtotal
20,502,799.53
365,258.32
111.586.62
20,756,47123
253,671.70
1%
GRAND TOTAL
69,900,617.19
6,459,139.83
6,455,604.53
67,904.152.49
1,996,464.70
-3%
Total Investment: 67,904,152 49
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 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
$
4,711,143
N/A
$
4,711,143
000%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,822,797
N/A
$
3,822,797
025%
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
$
3,000
000%
Local Agency Investment Fund (LAIF-CITY)
State of California
N/A
N/A
On Demand
$
35,967,181
N/A
$
35,967,181
0 98 %
CDARS - Malaga Bank
Malaga Bank
6/18/2017
26 weeks
12/19/2017
250,000
$
250,000
085%
CD - Bank of New York (Vinking Sparks)
Citizens Sale Bank
4/29/2016
18 Mos
10/30/2017
$
250,000
$
250,000
075%
First Bank Puerto
Rico
4/29/2016
18 Mos
10/30/2017
$
250,000
$
250,000
080%
MB Financial Bank
4/29/2016
30 Mos
10/29/2018
$
250,000
$
250,000
100%
United Bankers Bank
5/2/2016
30 Mos
10/29/2018
$
250,000
$
250,000
100%
Comenity Capital
Bank
5/2/2016
36 Mos
5/2/2019
$
250,000
$
250,000
120%
Medallion Bank Utah
5/3/2016
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
16 Mos
11/6/2017
$
250,000
$
250,000
070%
Israel Discount Bank
of NY
5/4/2016
24 Mos
5/4/2018
$
250,000
$
250,000
105%
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
120%
Wells Fargo Bank
5/4/2016
36 Mos
5/6/2019
$
250,000
$
250,000
125%
Safra National Bank
5/4/2016
16 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
11/5/2018
$
250,000
$
250,000
1 10%
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
070%
Bank of India NY
5/12/2016
12 Mos
5/10/2017
$
250,000
$
250,000
0 70 %
Cit Bank NA
5/31/2016
12 Mos
5/31/2017
$
250,000
$
250,000
065%
BMW Bank North
America
5/27/2016
36 Mos
5/28/2019
$
250,000
$
250,000
115%
Pacific Continental
Bank
5/31/2016
36 Mos
5/31/2019
$
250,000
$
250,000
110%
Bank of America NA
6/2/2016
12 Mos
6/2/2017
S
250,000
$
250,000
070%
Triad Bank
6/2/2016
46 Mos
4/2/2020
S
250,000
$
250,000
125%
BMO Harris Bank NA
6/3/2016
12 Mos
6/2/2017
$
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
18 Mos
12/8/2017
$
250,000
$
250,000
085%
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
S
250,000
$
250,000
1 00%
Capslone Bank
6/15/2016
36 Mos
6/14/2019
S
250,000
$
250,000
1 20%
Capital Bank Little
Rock
6/22/2016
39 Mos
9/23/2019
S
250,000
$
250,000
120%
Discover Bank
6/8/2016
36 Mos
6/10/2019
$
250,000
$
250,000
1 15%
Celtic Bank
6/15/2016
36 Mos
6/14/2019
S
250,000
$
250,000
1 20%
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
5
250,000
$
250,000
080%
Luana Savings Bank
7/8/2016
48 Mos
7/8/2020
$
250,000
$
250,000
1 15%
Wax Bank
7/8/2016
24 Mos
7/8/2018
$
250,000
$
250,000
095%
Communiy Finl
SVCS Bank
7/12/2016
36 Mos
7/12/2019
$
250,000
$
250,000
105%
A-3
First Western Bank
7/15/2016
36 Mos
711 512 01 9
$
250,000
$
250,000
100%
Signature Bank of
Arkansas
7/15/2016
48 Mos
7/15/2020
$
250,000
$
250,000
115%
Queensborough
National Bank
8/10/2016
24 Mos
8/10/2018
$
250,000
$
250,000
0 90 %
Carroll County Stale
Bank Iowa
8/12/2016
36 Mos
8/12/2019
$
250,000
$
250,000
1 00 %
Everbank/
Jacksonville FL
8/12/2016
36 Mos
8/12/2019
$
250,000
$
250,000
1 15%
Freedom Bank of
Virginia
8/17/2016
12 Mos
8116/2017
$
250,000
$
250,000
0.70%
Caldwell Bank &
Trust Cc
8/19/2016
36 Mos
8/19/2019
$
250,000
$
250,000
100%
Live Oak Banking
Company
6/19/2016
48 Mos
8/19/2020
$
250,000
$
250,000
1 25%
Capital Bank Corp
8/31/2016
24 Mos
8/31/2018
$
250,000
$
250,000
1 05 %
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
918/2017
$
250,000
$
250,000
0.85%
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
9/1912016
36 Mos
9/19/2019
$
250,000
$
250,000
1 10%
Benificial Bank
10/7/2016
48 Mos
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 Nalinal
Bank
10/13/2016
12 Mos
10/13/2017
$
250,000
$
250,000
0.75%
Capital One NA
10/13/2016
48 Mos
1011312020
$
250,000
$
250,000
140%
Bank of New
England NH
10/21/2016
36 Mos
1012112019
$
250,000
$
250,000
120%
Midland State Bank
11/2/2016
24 Mos
1112/2018
$
250,000
$
250,000
110%
Home Savings&Loan
11/18/2016
12 Mos
11/17/2017
$
250,000
$
250,000
0 80 %
American Bank
Center
11/10/2016
24 Mos
11/9/2018
$
250,000
$
250,000
1.10%
Preferred Bank La
California
11/912016
36 Mos
111812019
$
250,000
$
250,000
115%
Partners Bank
California
11/18/2016
36 Mos
11/18/2019
$
250,000
$
250,000
110%
Independent
Bk/Memphis
11/16/2016
37 Mos
12/16/2019
$
250,000
$
250,000
1.15%
Synchrony Bank
11/4/2016
60 Mos
11/4/2021
$
250,000
$
250,000
1 70 %
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
090%
Peoples
Bank/MagnoliaAR
1/20/2017
12 Mos
1/19/2018
$
250,000
$
250,000
090%
Greenfield Savings
Bank
1/20/2017
12 Mos
1119/2018
$
250,000
$
250,000
0 90 %
Gorham Savings
Bank ME
1/25/2017
12 Mos
1/2512018
$
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 /1 412 01 9
$
250,000
$
250,000
1.40%
First National Bank
Paragould
1/18/2017
24 Mos
1/18/2019
$
250,000
$
250,000
135%
Lithe Bank
1125/2017
24 Mos
1 /2 512 01 9
$
250,000
$
250,000
135%
Stearns Bank NA
1/13/2017
36 Mos
1/13/2020
$
250,000
$
250,000
1,60%
Whitney Bank/MS
1/25/2017
36 Mos
1/27/2020
8
250,000
$
250,000
170%
Lakeside Bank
1/1312017
42 Mos
7/13/2020
$
250,000
$
250,000
195%
Farmers&Merchants
BK NEB
1/18/2017
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
1/1312017
15 Mos
4 /1 312 01 8
$
250,000
$
250,000
1.00%
Patriot Federal Bank
1/20/2017
18 Mos
7/20/2018
$
250,000
$
250,000
1,05%
Wood America Bank
1/13/2017
24 Mos
1 /1 412 01 9
$
250,000
$
250,000
1.35%
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
175%
First National Bank
of America
1/2012017
60 Mos
1/20/2022
$
250,000
$
250,000
2.00%
WE
East Boston Savings
Bank
1/20/2017
60 Mos
1/20/2022
$
250,000
S
250,000
200%
Henry County Bank
OH
1/27/2017
60 Mos
1/27/2022
$
250,000
$
250,000
1.90°%
JP MORGAN
CHASE BANK
2/15/2017
60 Mos
2/15/2022
$
200,000
$
200,000
230%
HSBC Bank USA
3/21/2017
60 Mos
3/21/2022
$
250,000
$
250,000
245%
American Express
Centurion
3/21/2017
60 Mos
4/5/2022
$
250,000
$
250,000
245°%
State Bank of India
6/30/2017
24 Mos
7/1/2019
$
250,000
$
250,000
1.75%
Total Investment: $ 67,904.152
Total Investment Weighted Average Return 0.9%
SUMMARY OF CASH BALANCE BY INSTITUTION
JUNE 2017
NOTE:
(1) See footnote on the summary page
(2) ILAIF market values will be reported to vary from book 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,
712-11 7
Treasurer Dated