CC SR 20160405 O - City Monthly Report of Cash BalancesRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 04/05/2016
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the February 2016 Cash Balances/Monthly
Treasurer Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the February 2016 Cash Balances/Monthly Treasurer Report.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Jane Lin, Accountant _?(_
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, City Manager,,""�'-'
ATTACHED SUPPORTING DOCUMENTS:
A. Monthly Treasurer Report (page A-1)
BACKGROUND AND DISCUSSION:
With the approval of Custodian Agreement with Vining -Sparks IBG at the March 15,
2016, meeting, the attached Monthly Treasurer Report is now formatted to represent an
Investment Report, rather than a Cash Balance Report. This report summarizes the
cash balance of all funds, as well as investments, for the month of February 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 $64,394,424, with more than $53 million or
80% of the balance in the Local Agency Investment Fund (LAIF). The City has over $5
million or 8% of the total cash balance with Bank of the West, and over $6 million with
Malaga Bank.
In summary, the City General Fund is about $16 million or 25% of the total cash
balance, and Capital Improvement Fund is over $23 million or 36% of the total cash
balance. The City cash balance increased by $223,311 from last month, but in
comparison to the same period last year, the cash balance decreased by almost
1
$290,000. The major variance as compared to last year was due to a one-time
developer fee that was received in February 2015.
2
MONTHLY TREASURER REPORT
FEBRUARY 2016
(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
TOTAL CASH
YTD INT
RECEIVED
BEGINNING BALANCE
5,122,553.98
3,809,832.07
3,000.00 53,035,726.98 2,200,000.00
64,171,113.03
3,915.43
PLUS: DEPOSITS
2,540,729.21
2,540,729.21
PLUS: INTEREST EARNINGS(1)
0.00
130,578.09
LESS: CHECK DISBURSEMENTS
(1,737,759.27)
(1,737,759.27)
LESS: ELECTRONIC DISBURSEMENTS(2)
(580,551.05)
(580,551.05)
ADJUSTMENTS(3)
892.13
892.13
PLUS: TRANSFERS IN
0.00
LESS: TRANSFERS OUT
0.00
ENDING BALANCE
5,345,865.00
3,809,832.07
3,000.00 53,035,726.98 2,200,000.00
64,394,424.05
130,578.09
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
465, 651.49
CalPers
71, 395.36
ICMA&HSA
28,046.71
Retirement Health Savings Withholdings
10,121.48
Flexible Spending Accounts
1,420.58
Bank and Merchant Fees
3,915.43
580,551.05
(3) The net adjustment was due to void checks and other deposit adjustment.
9.33%
3.43%
3.05%
3.00%
FEBRUARY 2016 CASH BALANCE BY MAJOR FUNDS
15.30%
W:\CASH$$\Treasurer's Report\FY2015-2016\FY2015-2016CITY TN.xls
■ GENERAL FUND
■ CIP
EQUIPMENT REPLACEMENT
■ 1911 ACT
■ HABITAT RESTORATION
QUIMBY
■ WATER QUALITY FLOOD PROTECTION
■ OTHER RESTRICTED FUNDS
A-1
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
FEBRUARY 2016
NOTE:
(1) See footnote on the summary page
(2) LAIF market values will be reported to vary from book value if the City calculated share of total LAIF assets is less than the
City book value.
To the best of my knowledge, there are no misstatements of material amounts within this report;
or omissions of material amounts to cause the report to be misleading.
I certify that this report accurately reflects all City investments and complies with the investment policy of the City
of Rancho Palos Verdes as approved by the City Council. Furthermore, I certify that sufficient investment liquidity
and anticipated revenues are available to meet the City's expenditure requirements for the next six months.
Respectfully submitted,
z2z2�� &11-1, -,--
Treasurer Dated
W:\CASH$$\Treasurer's Report\FY2015-2016\FY2015-2016CITY TN.xls
A-2
Issuer of
Acquisition
Maturity
Market
Par
Book
Yield
Investment
Investment
Date
Term
Date
Value
Value
Value
0.00%
Bank of the
Checking Accounts
West
N/A
N/A
On Demand
$
5,345,865
N/A
$
5,345,865
0.30%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,809,832
N/A
$
3,809,832
0.00%
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
$
3,000
0.47%
State of
Local Agency Investment Fund (LAIF-CITY) California
N/A
N/A
On Demand
$
53,035,727
N/A
$
53,035,727
0.30%
CDARS - Malaga Bank
Malaga Bank
12/24/2015
26 weeks
6/23/2016
250,000
$
250,000
0.15%
Banco Popular
de Puerto Rico -
IBC
12/24/2015
26 weeks
6/23/2016
244,500
$
244,500
0.15%
Iberiabank
12/24/2015
26 weeks
6/23/2016
216,500
$
216,500
0.15%
Univest Bank
and Trust Co.
12/24/2015
26 weeks
6/23/2016
244,500
$
244,500
0.15%
Western
Alliance Bank
12/24/2015
26 weeks
6/23/2016
$
244,500
$
244,500
0.35%
Citizens
National Bank
3/26/2015
52 weeks
3/24/2016
$
243,500
$
243,500
0.35%
Ever Bank
3/26/2015
52 weeks
3/24/2016
$
230,633
$
230,633
0.35%
Flagstar Bank,
FSB
3/26/2015
52 weeks
3/24/2016
$
243,500
$
243,500
0.35%
Parke Bank
3/26/2015
52 weeks
3/24/2016
$
243,500
$
243,500
0,35%
Porsperity Bank
3/26/2015
52 weeks
3/24/2016
11,867
$
11,867
0.35%
The Park
National Bank
3/26/2015
52 weeks
3/24/2016
$
27,000
$
27,000
Total Investment:
$ 64,394,424
0.4%
Total Investment Weighted Average
Return
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.
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,
z2z2�� &11-1, -,--
Treasurer Dated
W:\CASH$$\Treasurer's Report\FY2015-2016\FY2015-2016CITY TN.xls
A-2
SUMMARY OF CASH BALANCE BY INSTITUTION
FEBRUARY 2016
3.42
D
W WACASH$$\Treasurer's Report\FY2015-2016\FY2015-2016CITY TN.xIs
■ Bank of the West
■ Malaga Bank
State of California - LAIF
■ Malaga Bank - CDARS