CC SR 20170905 J - City Treasurer Report July 2017RANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 09/05/2017
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the July 2017 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the July 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 1.L,
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
July 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 $66,873,564.55, with more than $36
million or 54% of the balance in the Local Agency Investment Fund (LAIF). The City
has $3.6 million or 5% 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 $23.1 million or 35% 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 $14 million or 22% in cash balance, and
the Capital Improvement Projects (CIP) Fund has over $28 million or 43% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.4 million or 4%, over $2 million or 3% in the 1911 Act Fund, over $1.1 million or
2% in the Habitat Restoration Fund, over $2.3 million or 3% in the Quimby Fund, over
1
$4.7 or 7% million in the Water Quality Fund, and over $12.3 million or 16% in Other
Restricted Funds.
The City cash balance decreased by $1 million from last month, and in comparison to
the same period last year, the cash balance decreased by almost $0.5 million. The
major variance is a disbursement of $478,574 to CalPERS for the FY17-18 CalPERS
lump sum annual payment. Other disbursements are monthly recurring expenses.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2017
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Bank
of the West
OPERATING
Malaya
Bank
OPERATING PETTY CASH
LAIFLITY
INVESTMENT
CDARS
INVESTMENT
CD
TOTAL CASH
YTD INT
RECEIVED
BEGINNING BALANCE
4,706,642.90
3,821,797.06 3,000.00
35,967,181.02
250,000.00
23,150,031.51
67,899,652.49
2,500.00
PLUS: DEPOSITS
1,733,560.62
1,039,014.12
1,733,560.62
PLUS: INTEREST EARNINGS(1)
2,383.44
76,602.07
78,985.51
78,985.51
LESS: CHECK DISBURSEMENTS
(1,734,829.40)
(1,734,829.40)
LESS: ELECTRONIC DISBURSEMENTS(2)
(1,039,014.12)
(1,039,014.12)
ADJUSTMENTS(3)
(64,790.55)
(64,790.55)
PLUS: TRANSFERS IN
0.00
LESS: TRANSFERS OUT
0.00
ENDING BALANCE
3,601,569.45
3,825,180.50 3,000.00
36,043,783.09
250,000.00
23,150,031.51
66,873,564.55
78,985.51
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
436,830.59
CelPers
73,713.06
ICMABHSA
30,250.40
Retirement Health Savings Withholdings
9,823.37
CelPers Lum Sum Payment
478,574.00
Flexible Spending Accounts
865.35
Sales Taxes
2,667.00
Postage
2,500.00
Bank and Merchant Fees
3,790.35
1,039,014.12
(3) The net adjustment was due to void check, deposit adjustment, and system adjustment.
JULY 2017 CASH BALANCE BY MAJOR FUNDS
■ GENERAL FUND
at CIP
In EQUIPMENT REPLACEMENT
■ 1911 ACT
HABITAT RESTORATION
w QUIMBY
a WATER QUALITY FLOOD
PROTECTION
■ OTHER RESTRICTED FUNDS
A-1
CASH BALANCES BY FUND
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2017
Change In Change In
BALANCE Ending Cash Ending Cash
FORWARD DEBIT CREDIT CASH Balance Balance in %
Unrestricted
GENERAL FUND
14,845,637.09
3,541,902.30
3,608,226.27
14,779,313.12
66,323.97
0%
Restricted by Council Action
BEAUTIFICATION FUND
477,940.72
534.31
0.00
478,475.03
534.31
0%
CIP
28,982,386.96
30,781.51
438,933 94
28,574,234.53
(408,152.43)
-1%
EQUIPMENT REPLACEMENT
2,589,12808
2,957.55
120,288.77
2,471,796.86
(117,331.22)
-5%
BUILDING REPLACEMENT
0.76
0.00
0.00
0.76
0.00
0%
EMPLOYEE BENEFITS
325,697.50
0.00
953.80
324,743 70
(953.80)
0%
Subtotal
32,375,154.02
34,273.37
560,176.51
31,849,250.88
525,903.14
-2%
Restricted by Law or External Agencies
STREET MAINTENANCE
697,110.05
942.16
368,193.72
329,858.49
(367,251.56)
-53%
1972 ACT
91,873.57
5,451,13
67,272.04
30,05266
(61,820.91)
-67%
EL PRADO
27,577.74
83.74
82.87
27,578.61
0.87
0%
CDBG
32.90
12,950.00
20,788 50
(7,805.60)
(7,838.50)
-100%
CDBG-R
0.00
0.00
0.00
0.00
0.00
0%
1911 ACT
2,053,229.19
16,210.88
27,685,44
2,041,754.63
(11,474.56)
-1%
SOLID WASTE
470,949.17
13,258.77
35,990.34
448.217.60
(22,731.57)
-5%
AIR QUALITY MANAGEMENT
98,351.90
104.63
28,284.25
70,172.26
(28,179.62)
-29%
PROPOSITION C
461,100.58
43.964.39
40,883.31
464,181.66
3,081.08
1%
PROPOSITION A
2,232,051.45
54,688.56
10,348.99
2,276,391.02
44,339.57
2%
PUBLIC SAFETY GRANTS
71,541.29
107.93
0.00
71,649.22
107.93
0%
MEASURE R
2,124,839.64
34,946.29
0.00
2,159,785,93
34,946.29
2%
HABITAT RESTORATION
1,205,696.34
1,347.90
36,075.00
1,170,969.24
(34,727.10)
-3%
SUBREGION 1 MAINTENANCE
764,471.40
855.49
5,616.67
759,710.22
(4,761 16)
-1%
MEASURE A MAINTENANCE
95,413.51
95.23
0.00
95,508.74
95.23
0%
ABALONE COVE SEWER DISTRICT
179,973.65
2,222.78
9,226.33
172,970.10
(7.003 55)
-4%
RPVTV
0.00
0.00
0.00
0.00
0.00
0%
GINSBURG CULTURE ARTS BUILDING
86,084.23
96.24
0.00
86,180.47
96.24
0%
DONOR RESTRICTED CONTRIBUTION
882,552.48
2,486.07
1,235.00
883,803.55
1,251.07
0%
QUIMBY
2,361,112.11
2,716.39
0.00
2,363,828.50
2,716.39
0%
LOW -MODERATE INCOME HOUSING
140,461.74
142.42
0.00
140,604.16
14242
0%
AFFORDABLE HSNG IN LIEU
591,814.22
661 62
0.00
592.475.84
661.62
0%
EET
301,535.68
29,758.28
0.00
331,293.96
29,75828
10%
MEASURE A CAPITAL
7.440.11
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
0.00
0.00
0.00
0.00
0%
WATER QUALITY FLOOD PROTECTIO1
4,772,459.86
5,379.33
17,163.41
4,760,675.78
11,784.08)
0%
REDEVELOPMENT OBLIGATION RETIF
450,095.34
469.35
4,114.00
446,450.69
(3,644 65)
-1%
IMPROVEMENT DISTRICT 9
0.00
0.00
0.00
0.00
0.00
0%
SPECIAL TRUSTS
511,093.23
33.245.00
23,065.54
521,252.69
10,159.46
2%
Subtotal
20,678,861.38
262,184.58
696,045.41
20,245,000.55
433,860.83
-2%
GRAND TOTAL
67,899,652.49
3,838,360.25
4,864,448.19
66,873,564.55
1,026,087.94
-2%
Total Investment: 66,873,564.55_
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2017
Investment
Issuer of
Investment
Acquisition
Date
Tenn
Maturity
Date
Market
Value
Par
Value
Book
Value
Yield
Checking Accounts
Bank of the West
N/A
N/A
On Demand
$
3.601.569
N/A
$
3,601,569
0.00%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3.825,181
N/A
$
3,825,181
0.25%
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
$
3,000
0.00%
Local Agency Investment Fund (LAIF-CITY)
State of California
NIA
N/A
On Demand
$
36,043,783
N/A
$
36,043,783
1.05%
CDARS • Malaga Bank
Malaga Bank
6/18/2017
26 weeks
12/19/2017
250,000
$
250.000
0.85%
CD - Bank of New York (Vinking Sparks)
Citizens Sate Bank
4/29/2016
18 Mos
10/30/2017
$
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
10/29/2018
$
250.000
$
250.000
1.00%
United Bankers Bank
5/2/2016
30 Mos
1 0/2 912 01 8
$
250,000
$
250,000
1.00%
Comenity Capital
Bank
5/2/2016
36 Mos
5/2/2019
$
250.000
$
250,000
1.20%
Medallion Bank Utah
5/3/2016
30 Mos
11/5/2018
$
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
$
250.000
0.70%
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
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
$
250,000
$
250.000
1.25%
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
070%
Investors Bank/Short
Hills
5/5/2016
24 Mos
5/4/2018
$
250,000
$
250.000
1.00%
Ally Bank
5/5/2016
30 Mos
11/512018
$
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
1.00%
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
5/1012017
$
250,000
$
250,000
0.70%
Cit 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
6/2/2016
12 Mos
6/2/2017
$
250,000
$
250,000
0.70%
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
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
1218/2017
$
250,000
$
250,000
0.85%
Franklin Synergy
Bank
6/10/2016
18 Mos
12/11/2017
$
250,000
$
250.000
0.85%
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
611 412 01 9
$
250,000
$
250,000
1.20%
Capital Bank Little
Rock
6/22/2016
39 Mos
9/2312019
$
250,000
$
250,000
120%
Discover Bank
6/812016
36 Mos
6/10/2019
$
250,000
$
250,000
1.15%
Celtic Bank
6/15/2016
36 Mos
611 412 01 9
$
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
$
250,000
$
250,000
0.80 %
Luana Savings Bank
7/8/2016
48 Mos
7/8/2020
$
250,000
$
250,000
1.15%
Wex Bank
7/8/2016
24 Mos
7/8/2018
$
250,000
$
250,000
095%
Community Finl
SVCS Bank
7/12/2016
36 Mos
7/12/2019
$
250,000
$
250,000
105%
W
First Western Bank
7/1512016
36 Mos
7/15/2019
$
250,000
$
250,000
1.00%
Signature Bank of
Arkansas
7/15/2016
48 Mos
7/15/2020
$
250,000
$
250,000
1.15%
Queensborough
National Bank
8/1012016
24 Mos
8/10/2018
$
250,000
$
250,000
0.90%
Carroll County State
Bank Iowa
8/12/2016
36 Mos
8/12/2019
$
250.000
$
250,000
100%
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
8/16/2017
$
250,000
$
250,000
0.70%
Caldwell Bank &
Trust Co
6/19/2016
36 Mos
8/1912019
$
250.000
$
250.000
1.00%
Live Oak Banking
Company
8/19/2016
48 Mos
8/19/2020
$
250,000
$
250,000
115%
Capital Bank Corp
8/3112016
24 Mos
8/31/2018
$
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
O. BS%
Gold Coast
Bank/Chicago
9/9/2016
45 Mos
6/9/2020
$
250,000
$
250.000
1.15%
Bankers Bank of the
West
9/1412016
36 Mos
9/1312019
$
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
10/7/2020
$
250,000
$
250.000
1.35%
Sallie Mae Bank/Salt
Lake
10/12/2016
36 Mos
10/15/2019
$
250.000
$
250.000
1.30%
Winona Natinal
Bank
10/13/2016
12 Mos
10/1312017
$
250,000
$
250,000
0,75%
Capital One NA
10/13/2016
48 Mos
10/1312020
$
250,000
$
250.000
1.40%
Bank of New
England NH
10/21/2016
36 Mos
10/21/2019
$
250,000
$
250,000
1.20%
Midland State Bank
11/2/2016
24 Mos
11/2/2018
$
250,000
$
250,000
1.10%
Home Savings&Loan
11/16/2016
12 Mos
11117/2017
$
250,000
$
250,000
0.60%
American Bank
Center
11/1012016
24 Mos
11/9/2018
$
250,000
$
250.000
1 10%
Preferred Bank La
California
11/9/2016
36 Mos
11/8/2019
$
250,000
$
250,000
1.15%
Partners Bank
California
11/1812016
36 Mos
11/16/2019
$
250,000
$
250.000
1.10%
Independent
Bk/Memphis
11/16/2016
37 Mos
12/16/2019
$
250,000
$
250.000
1.15%
Synchrony Bank
11/4/2016
60 Mos
111412021
$
250.000
$
250,000
1.70%
Banc of California
1/13/2017
12 Mos
1 /1 212 01 8
$
250,000
$
250,000
1.00%
Mbank of Manistique
MI
1/17/2017
12 Mos
1 /1 712 01 8
$
250,000
$
250.000
1.00%
First Federal Bank of
Dunn NC
1/20/2017
12 Mos
1 /1 912 01 8
$
250,000
$
250,000
0.90%
Peoples
BanklMagnoliaAR
1120/2017
12 Mos
1/19/2018
$
250,000
$
250,000
0.90%
Greenfield Savings
Bank
1!20/2017
12 Mos
1 /1 912 01 8
$
250,000
$
250,000
0.90%
Gorham Savings
Bank ME
1/25/2017
12 Mos
1/25/2018
$
250,000
$
250,000
0.90%
Atlantic Stewardship
BK
1113/2017
24 Mos
1/14/2019
$
250,000
$
250,000
1.40%
Flushing Bank
1/13/2017
24 Mos
1/14/2019
$
250,000
$
250.000
1.40%
First National Bank
Paragould
1/18/2017
24 Mos
1 /1 812 01 9
$
250,000
$
250,000
1.35%
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
1.60%
Whitney Bank/MS
1/25/2017
36 Mos
1/27/2020
$
250,000
$
250,000
1.70%
Lakeside Bank
1/13/2017
42 Mos
7/1312020
$
250,000
$
250,000
1.95%
Farmers&Merchants
BK NEB
1118/2017
60 Mos
1/18/2022
$
250,000
$
250,000
2.05%
Peoples United Bank
1/18/2017
60 Mos
1/1812022
$
250,000
$
250,000
2.05%
DMB Community
Bank
1113/2017
15 Mos
4/13/2018
$
250,000
$
250,000
1.00%
Patriot Federal Bank
1120/2017
18 Mos
7/20/2018
$
250,000
$
250,000
1,05%
Woori America Bank
1/13/2017
24 Mos
1/14/2019
$
250,000
$
250,000
1,35%
Union Bank and
Trust/OX
1/20/2017
30 Mos
7122/2019
$
250,000
$
250,000
1,45%
World Foremost
Bank
1/2112017
36 Mos
1/21/2020
$
200,000
$
200,000
1.75%
First National Bank
of America
1/20/2017
60 Mos
1/20/2022
$
250,000
$
250,000
2.00%
MA
East Boston Savings
Bank
1202017
60 Mos
1202022
$ 250,000
$
250,000
2.00%
Henry County Bank
OH
1272017
60 Mos
1272022
$ 250,000
$
250,000
1.90%
JP MORGAN
CHASE BANK
2/152017
60 Mos
2/152022
$ 200,000
$
200,000
2.30%
HSBC Bank USA
3212017
60 Mos
3/212022
$ 250,000
$
250,000
2.45%
American Express
Centurion
3212017
60 Mos
4/52022
$ 250,000
$
250,000
2.45%
State Bank of India
6/302017
24 Mos
7/12019
$ 250,000
$
250,000
1.75%
Total Investment:
$
66,873,565
Total Investment Weighted Average Return
1.0%
SUMMARY OF CASH BALANCE BY INSTITUTION
JULY 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 LAIF assets is less than the
City book value.
■ Bank of the West
■ Malaga Bank
• State of California - LAIF
• Malaga Bank - CDARS
■ Vining Sparks/Bank of New York - CD
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.
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,
829,
Treasurer Dated
A-5