CC SR 20160802 N - May 2016 City Treasurer Report - AnalysistRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 08/02/2016
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the May 2016 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the May 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 '711�--
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, City Managerv'
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 May 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 $69,448,397, with more than $48 million or
69% of the balance in the Local Agency Investment Fund (LAIF). The City has $10
million or 15% of the total cash balance with Bank of the West, and over $3 million with
Malaga Bank. The City diversified the investment portfolio by purchasing 17 additional
new Certificates of Deposits for a total of $4,250,000. The securities are held by the
Bank of New York and are FDIC insured.
In summary, the City's General Fund is over $17 million or 25% of the total cash
balance, and Capital Improvement Projects (CIP) is over $27 million or 40% of the total
cash balance. Overall, the City cash balance increased by over $3 million from last
month, but in comparison to the same period last year, the cash balance decreased by
less than $50,000. The major variance as compared to last year is the disbursement to
the Palos Verdes Peninsula Land Conservancy for the quarterly management fee for
the period ending in June 2016.
1
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2016
(1) All LAIF interest is paid quarterly
Bank
Malaga
Payroll
409,508 37
CalPers
YTD INT
ICMA&HSA
of the West
Bank
10,261 88
INVESTMENT
INVESTMENT
Bank and Merchant Fees
3,21629
OPERATING
OPERATING
PETTY CASH LAIF-CITY
CDARS
CD
TOTAL CASH
RECEIVED
BEGINNING BALANCE
6,492,792 40
3,813,003 36
3,000 00 53,095,171.48
2,200,000.00
750,000 00
66,353,967 26
PLUS: DEPOSITS
5,137,411.02
5,137,411 02
PLUS: INTEREST EARNINGS(1)
000
193,193 90
LESS: CHECK DISBURSEMENTS
(1,598,90829)
(1,598,908.29)
LESS: ELECTRONIC DISBURSEMENTS(2)
(521,888 97)
(521,888 97)
ADJUSTMENTS(3)
78,25474
(43870)
77,81604
PLUS: TRANSFERS IN
5,000,000 00
4,250,000 00
9,250,000 00
LESS: TRANSFERS OUT
(4;250.000.00)
_
(S.DDO,ODO.00)
(9,250,000.00)
1.NDING SAI.ANCE
10.337;66090
3.812,554.63
3,000.00 48,04a5.171 48
2.200.000,00
5.000,D00.00
694448,397.06
193.193.90
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
409,508 37
CalPers
70,978 52
ICMA&HSA
27,295 52
Retirement Health Savings Withholdings
10,261 88
Flexible Spending Accounts
62839
Bank and Merchant Fees
3,21629
(3) The net adjustment was due to void checks and other deposit adjustment
MAY 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 BALANCES BY FUND
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2016
Changan Cash Balance
BALANCE Ending Cash from Previous
FORWARD DEBIT CREDIT CASH Balance Month -End
Unrestricted
GENERALFUND
14,110,160.69
4,444,336.55
1,463,087.84
17,091,409,40
2,981,248.71
21%
Restricted by Council Action
BEAUTIFICATION FUND
500,003 48
000
000
500.003 48
0,00
0%
CIP
28,066,263.17
14,80864
189.75903
27,891,312.78
(174,950,39)
1%
EQUIPMENT REPLACEMENT
3.104.992 16
000
13.460 01
3,091.532 15
(13.460,01)
0%
BUILDING REPLACEMENT
89900
0.00
000
89900
0.00
7%
EMPLOYEE BENEFITS
390.984.77
481,747.51
607,876.46
264.855.82
(126.128.95)
32%
Subtotal
32.063.142.58
496,556.15
811,095.50
31,748,603.23
(314,539.35)
1%
Restricted by Law or External Agencies
STREET MAINTENANCE
1,915,809 02
75,478 84
149,712 06
1,841,575.80
(_74.233.22)
4%
1972 ACT
113,324.80
32,580.22
000
145,905 02
32,580.22
29%
EL PRADO
24,862 51
27991
0.00
25,142.42
27991
1%
CDBG
(137,465.80)
136,709 00
4,79500
(5,551 80)
131,914.00
96%
CDBG-R
000
0.00
000
000
0.00
0%
1911 ACT
1,966.211.98
71,937.06
26,116.46
2,012,032.58
45,820.60
2%
SOLID WASTE
485,522.53
499.85
12.303.64
473,718.74
(11,803.79)
2%
AIR QUALITY MANAGEMENT
78.438 99
0.00 _
000
78,438 99
0.00
0%
PROPOSITION C
319,772 69
52,619.54
000
372,392 23
52,61954
16%
PROPOSITION A
252,118 57
63,437 26
45707
315.098.76
62.980 19
25%
PUBLIC SAFETY GRANTS
66,833.06
0.00
0-00
66,833.06
000
0%
MEASURE R
1,546,609 70
39,467,82
000
1,566,077 52
39,467.82 1
3%
HABITAT RESTORATION
1,462,038.21
0,00
33,705.92
1,428,332.29
(33,70592)
2%
SUBREGION 1 MAINTENANCE
824„819.12
0.00
2,335.11
822.484.01
(2,335.11)
0%
MEASURE A MAINTENANCE
4,352.89
0.00
0.00
4,35289
000
0%
ABALONE COVE SEWER DISTRICT
90,446,16
7,98070
31.354 45
67,072 41
(23,373 75)
26%
RPVTV
0.00
000
000
000
000
0%
GINSBURG CULTURE ARTS BUILDING
85,663 31
000
000
5,66331
000
0%
DONOR RESTRICTED CONTRIBUTIONS
876,33-791
000
1132 81
875,175 10
(1.132 81)
0%
QUIMBY
2260,82823
16,976.20
0.00
2,277,80443
16,97620
1%
LOW -MODERATE INCOME HOUSING
54,277 12
11,11300
0.00
65,39012
11,113.00
20%
AFFORDABLE HSNG IN LIEU
586.130 13
2.77800
000
588,90813
2.77800
0%
EET
202,837.72
47,814.00
0.00
250.651 72
47,814 00
24%
MEASURE A CAPITAL
7,440.11
0.00
000
7,440.11
000
0%
BIKEWAYS
0.00
0..00
0.00
000
000
0%
UNDERGROUND UTILITIES
0.00
0.00
000
0.00
000
0°h
ROADWAY BEAUTIFICATION
0.00
0,00
000
000
000
0%
WATER QUALITY FLOOD PROTECTION
6,119,525.58
169,422.15
27,789 35
6,261,158 38
141,632 80
2%
REDEVELOPMENT OBLIGATION RETIRE
455,638 17 1
7.632.00
0.00
463,270.17
7.632.00
2%
IMPROVEMENT DISTRICT 9
000
0.00 1
000 1
000
0.00
0%
SPECIAL TRUSTS
518,321.28
20,994.22
40,297.46
499.018 04
{19.303 24)
4%
Subtotal
20,180,663.99
757,719.77
329,999.33
20,608,384,43
427.720.44
2°h
GRAND TOTAL
66,353,96726 1
5,698.612.47
2.604.182.67 1
69,448.397.06 1
3,094,429.80 1
5°A
Total Investment: 69,448,397 06
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2016
Issuer of Acquisition Maturity Market Par Book
Investment Investment Date Term Date Value Value Value Yield
Checking Accounts
Bank of the West
N/A
N/A
On Demand
$ 10,337,661
N/A
$
10,337,661
000%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$ 3,812,565
N/A
$
3,812,565
025%
Petty Cash
N/A
NIA
N/A
On Demand
$ 3,000
N/A
$
3,040
0,00%
State of
Local Agency Investment Fund (LAIF-CITY) California
N/A
N/A
On Demand
$ 48,095,171
N/A $
48,095,171
0.55%
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
6123/2016
244,500
$
244,500
015%
Iberiabank
12/24/2015
26 weeks
612312016
216,500
$
216,500
015%
Univest Bank and
Trust Co.
12/24/2015
26 weeks
6/2312016
244,500
$
244,500
015%
Western Alliance
Bank
12/24/2015
26 weeks
6/23/2016
$
244,500
$
244,500
0.15%
Citizens National
Bank
3/2412016
52 weeks
3/2 312 01 7
$
243,500
$
243,500
025%
Ever Bank
3/24/2016
52 weeks
3/23/2017
$
230,633
$
230,633
025%
Flagstar Bank,
FSB
3/24/2016
52 weeks
3123/2017
$
243,500
$
243,500
0 25 %
Parke Bank
3/24/2016
52 weeks
3123/2017
$
243,500
$
243,500
0.25%
Porsperity Bank
3/24/2016
52 weeks
3/23/2017
11,867
$
11,867
025%
The Park
National Bank
3/24/2016
52 weeks
312312017
$
27,000
$
27,000
025%
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
10/30/2016
$
250,000
$
250,000
080%
MB Financial
Bank
4/29/2016
18 Mos
10/29/2016
$
250,000
$
250,000
1.00%
United Bankers
Bank
5/2/2016
18 Mos
1 0/2 912 01 8
$
250,000
$
250,000
1.00%
Comenity Capital
Bank
5/212016
36 Mos
512/2019
$
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
5/4/2017
$
250,000
$
250,000
0.60%
TCF National
Bank
5/4/2016
18 Mos
11/612017
$
250,000
$
250,000
070%
Israel Discount
Bank of NY
5/4/2016
24 Mos
5/412018
$
250,000
$
250,000
105%
Goldman Sachs
Bank USA
5/412016
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%
Satre National
Bank
5/4/2016
18 Mos
1116/2017
$
250,000
$
250,000
0.80%
Bank Leumi USA
NY
5/5/2016
12 Mos
515/2017
$
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
11/5/2018
$
250,000
$
250,000
1.10%
Marlin Business
Bank
5/6/2016
24 Mos
51712018
$
250,000
$
250,000
100%
Key Bank
5/11/2016
24 Mos
5111/2018
$
250,000
$
250,000
100%
Beal Bank USA
511112016
12 Mos
5/10/2017
$
250,000
$
250,000
0.70%
Bank of India NY
5/12/2016
12 Mos
5/10/2017
$
250,000
$
250,000
0.70%
Total Investment: $ 69,448,397
Total Investment Weighted Average Return 0,5%
A-3
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
SUMMARY OF CASH BALANCE BY INSTITUTION
MAY 2016
■ Bank of the West
• Malaga Bank
State of California - LAIF
= Malaga Bank - CDARS
• Vining Sparks/Bank of New York - CD
MA