CC SR 20160503 I - City Monthly Cash BalancesRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 05/03/2016
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the March 2016 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
Receive and file the March 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 "?(,
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVEDBY: Doug Willmore, City Manager 9*0-
_�t
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 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 $63,852,195, with more than $53 million or
83% of the balance in the Local Agency Investment Fund (LAIF). The City has $4.8
million or 7.5% of the total cash balance with Bank of the West, and over $6 million with
Malaga Bank which included CDARS investments. (see page A-3).
In summary, the City General Fund is over $14 million or 22% of the total cash balance,
and Capital Improvement Projects (CIP) is over $26 million or 41 % of the total cash
balance. The increase of $3 million in the CIP Fund are from Interfund Transfers for
three quarters. Overall, the City cash balance decreased by $542,229 from last month,
but in comparison to the same period last year, the cash balance decreased by $1.5
million. The major variances as compared to last year are reimbursement for the Water
Quality Management Program in the amount of $815,822 in March 2015; disbursement
of $297,278 to Palos Verdes Peninsula Transit Authority (PVPTA) for the six-month
contribution ended June 2016; and disbursement of $474,879 to Palos Verdes
Peninsula Land Conservancy (PVPLC) for a pass-through payment regarding its
1
maintenance and service expenses incurred from 2011-2015 in the Portuguese Bend
Nature Preserve.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER REPORT
MARCH 2016
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Bank
Malaga
71,712.11
ICMA&HSA
YTD INT
Retirement Health Savings Withholdings
of the West
Bank
INVESTMENT
Postage
2,500.00
Bank and Merchant Fees
OPERATING
OPERATING
PETTY CASH LAIF-CITY CDARS
TOTAL CASH
RECEIVED
BEGINNING BALANCE
5,345,865.00
3,809,832.07
3,000.00 53,035,726.98 2,200,000.00
64,394,424.05
PLUS: DEPOSITS
2,204,506.77
2,204,506.77
PLUS: INTEREST EARNINGS(1)
0.00
130,578.09
LESS: CHECK DISBURSEMENTS
(2,209,348.76)
(2,209,348.76)
LESS: ELECTRONIC DISBURSEMENTS(2)
(536,725.69)
(536,725.69)
ADJUSTMENTS(3)
(661.36)
(661.36)
PLUS: TRANSFERS IN
0.00
LESS: TRANSFERS OUT
0.00
ENDING BALANCE
4,803,635.96
3,809,832.07
3,000.00 53,035,726.98 2,200,000.00
63,852,195.01
130,578.09
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
420,630.96
CalPers
71,712.11
ICMA&HSA
27,131.64
Retirement Health Savings Withholdings
10,284.54
Flexible Spending Accounts
982.87
Postage
2,500.00
Bank and Merchant Fees
3,483.57
536,725.69
(3) The net adjustment was due to void checks and other deposit adjustment.
MARCH 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 RAI ANCES BY FUND
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER REPORT
MARCH 2016
Changeln Cash Balance
BALANCE Ending Cash from Previous
FDRWARD DEBIT CREDIT CASH Balance Month -End
Unrestricted
GENERAL FUND
16,11.7,134.41
2,753,053.37
4,657,781.47
14,212,406.31
(1,904,728.10)
12%
Restricted by Council Action
BEAUTIFICATION FUND
572,794.73
0.00
73,343.25
499,451.48
(73,343.25)
13%
CIP
23,150,121.96
3,860,003.57
801,796.95
26,208,328.58
3,058,206.62
13%
EQUIPMENT REPLACEMENT
3,156,315.61
0.00
7,600.29
3,148,715.32
(7,600.29)
0%
BUILDING REPLACEMENT
899.00
0.00
0.00
899.00
0.00
0%
EMPLOYEE BENEFITS
670,942.37
492,213.94
653,900.02
509,256.29 1
(161,686.08)
24%
Subtotal
27,551,073.67
4,352,217.51
1,536,640.51
30,366,650.67 1
2,815,577.00
10%
Restricted by Law or External Agencies
STREET MAINTENANCE
1,214,999.15
925,870.91
106,578.48
2,034,291.58
819,292.43
67%
1972 ACT
200,438.10
0.00
150,000.00
50,438.10
(150,000.00)
75%
EL PRADO
24,165.37
12.11
0.00
24,177.48
12.11
0%
CDBG
(10,382.20)
3,226.00
43,088.21
(50,244.41)
(39,862.21)
100%
CDBG-R
0.00
0.00
0.00
0.00
0.00
0%
1911 ACT
1,932,760.21
3,107.08
114,741.59
1,821,125.70
(111,634.51)
6%
SOLID WASTE
524,384.25
33,862.50
85,003.48
473,243.27 1
(51,140.98)
10%
AIR QUALITY MANAGEMENT
91,277.52
12,073.47
25,000.00
78,350.99
(12,926.53)
14%
PROPOSITION C
622,537.55
51,745.12
394,500.00
279,782.67
(342,754.88)
55%
PROPOSITIONA
454,689.96
62,378.79
312,898.00
204,170.75
(250,519.21)
55%
PUBLIC SAFETY GRANTS
141,720.06
0.00 1
75,000.00
66,720.06
(75,000.00)
53%
MEASURE R
1,476,693.38
38,878.95
0.00
1,515,572.33
38,878.95
3%
HABITAT RESTORATION
1,966,375.21
0.00
506,129.00
1,460,246.21
(506,129.00)
26%
SUBREGION 1 MAINTENANCE
837,270.71
0.00
11,637.79
825,632.92
(11,637.79)
1 %
MEASURE A MAINTENANCE
83,034.89
0.00
78,750.00
4,284.89
(78,750.00)
95%
ABALONE COVE SEWER DISTRICT
120,453.78
0.00
32,748.64
87,705.14
(32,748.64)
27%
RPVTV
0.00
0.00
0.00
0.00
0.00
0%
GINSBURG CULTURE ARTS BUILDING
85,579.31
0.00
0.00
85,579.31
0.00
0%
DONOR RESTRICTED CONTRIBUTIONS
873,898.91
3,000.00
342,644,00
534,254.91
(339,644.00)
39%
QUIMBY
2,211,278.23
0.00
37,500.00
2,173,778.23
(37,500.00)
2%
LOW -MODERATE INCOME HOUSING
54,226.12
0.00
0.00
54,226.12
0.00
0%
AFFORDABLE HSNG IN LIEU
585,554.13
0.00
0.00
585,554.13
0.00
0%
EET
352,515.72
0.00 1
150,000.00
202,515.72
(150,000.00)
43%
MEASURE A CAPITAL
7,440.11
0.00
0.00
7,440.11
0.00
0%
BIKEWAYS
96.52
0.00
0.00
96.52
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 PROTECTION
6,008,148.23
0.00
151,336.61
5,856,811.62
(151,336.61)
3%
REDEVELOPMENT OBLIGATION RETIRE
448,456.52
4,167.00
0.00
452,623.52
4,167.00 L
1
IMPROVEMENT DISTRICT 9
0.00 1
0.00
0.00
0.00
0.00
0%
SPECIAL TRUSTS
418,604.23
88,986.00
62,830.07
444,760.16
26,155.93
fi%
Subtotal
20,726,215.97
1,227,307.93
2,680,385.87
19,273,138.03
(1,453,077.94)
7%
GRAND TOTAL
64,394,424.05
8,332,578.81
8,874,807.85
63,852,195.01
(542,229.04)
1%
Total Investment: 63,852,195.01
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER REPORT
MARCH 2016
Issuer of Acquisition Maturity Market Par Book
Investment Investment Date Term Date Value Value Value Yield
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,
Treasurer Dated
A-3
Bank of the
Checking Accounts
West
N/A
N/A
On Demand
$
4,803,636
N/A
$
4,803,636
0.00%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,809,832
N/A
$
3,809,832
0.30
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
$
3,000
0.00%
State of
Local Agency Investment Fund (LAIF-CITY)
California
N/A
N/A
On Demand
$
53,035,727
N/A
$
53,035,727
0.51%
CDARS - Malaga Bank
Malaga Bank
12/24/2015
26 weeks
6/23/2016
250,000
$
250,000
0.30
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
0.15%
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
3/23/2017
$
243,500
$
243,500
0.25%
Parke Bank
3/24/2016
52 weeks
3/23/2017
$
243,500
$
243,500
0.25%
Porsperity Bank
3/24/2016
52 weeks
3/23/2017
11,867
$
11,867
0.25%
The Park
National Bank
3/24/2016
52 weeks
3/23/2017
$
27,000
$
27,000
0.25%
Total Investment:
$
63,852,195
Total Investment Weighted Average
Return
0.0%
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,
Treasurer Dated
A-3
SUMMARY OF CASH BALANCE BY INSTITUTION
MARCH 2016
''•3 Ado � (� �� �h,A
1
83.06%
Bank of the West
Malaga Bank
State of California - LAIF
Malaga Bank - CDARS