CC SR 20160802 O - June 2016 City Treasurer Report - AnalysisRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 08/02/2016
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the June 2016 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the June 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 j
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 June 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 $68,910,376, with more than $48 million or
70% of the balance in the Local Agency Investment Fund (LAIF). The City has almost
$6.5 million or 9% of the total cash balance with Bank of the West, and over $3.8 million
with Malaga Bank. The City diversified the investment portfolio by purchasing 17
additional new Certificates of Deposit 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 $16 million or 25% of the total cash
balance, and Capital Improvement Projects (CIP) Fund is over $27 million or 40% of the
total cash balance. Overall, the City cash balance decreased by over $0.5 million from
last month, but in comparison to the same period last year, the cash balance decreased
by only $312,000. The major variance as compared to last year is disbursements from
the General Fund, mainly due to the timing of the processing and purchase of computer
equipment.
1
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 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
INVESTMENT
CD
TOTAL CASH
YTD INT
RECEIVED
BEGINNING BALANCE
10,337,660 90
3,812,564 68
3,000 00 48,095,171 46 2,200,000 00
5,000,000 00
69,448,397.06
3,52594
PLUS: DEPOSITS
2,391,933 19
2,391,933 19
PLUS: INTEREST EARNINGS(1)
000
193,193 90
LESS: CHECK DISBURSEMENTS
(2,395,217 05)
(2,395,217 05)
LESS: ELECTRONIC DISBURSEMENTS(2)
(533,248 38)
(533,248 38)
ADJUSTMENTS(3)
(1,45887)
(3000)
(1,488.87)
PLUS: TRANSFERS IN
950,000 00
4,250,031 51
5,200,031 51
LESS: TRANSFERS OUT
(4,250.031 51)
(950,000.00)
(5,200,031 51)
ENDING BALANCE
6,499,638.28
3,812,534 68
3,000.00 48.095,171 48 1.250,000.00
9250,031.51
68,910,37595
193.193.90
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
418,249 01
CalPers
71,782 23
ICMA&HSA
26,328 06
Retirement Health Savings Withholdings
10,509 32
Flexible Spending Accounts
35382
Postage
2,50000
Bank and Merchant Fees
3,52594
533,248.38
(3) The net adjustment was due to a non -sufficient check and other deposit adjustment
JUNE 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
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2016
Change In Cash Balance
BALANCE Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month -End
Unrestricted
GENERALFUND _
17,091,409.40
1,831„332.10
2,052,013,64
16,870,72786
(220,681.54)
1%
Restricted by Council Action
BEAUTIFICATION FUND
500.003.48
000
000
500,003 48
0.00
0%
CIP
27.891.31278
17.48853
139.174,69
27.769.62662
(121 686 16)
0%
EQUIPMENT REPLACEMENT
3,091,532,15
5664
73,713,87
3,017,87492
(73,65723)
2%
BUILDING REPLACEMENT
899.00
0.00
0,00
899.00
0.00
0%
EMPLOYEE BENEFITS
264,655,82
488,22156
784,240.49
(31,16311)
(296,018.93)
100%
Subtotal
31,748,603,23
505,76673
997,129.05
31.257,240,91
(491,362.32)
_ 2°i
Restricted by Law or External Agencies
'STREET MAINTENANCE
1,841.575.80
155_,5.31 50
168,550 49
1.028.,556 81
(13,018.99)
1%
1972 ACT
145.905 02
000
0.00
145.905 02
0,00
0%
ELPRADO
25,142.42
843
0.00
25,15085
8.43
0%
CDBG
(5.551,80
000
24,210.39
(29,762.19)
(24210.39)
100%
CDBG-R
0.00
000
0.00
000
0.00
0%
1911 ACT
2,012,032.58
2,16776
26.953.86
1.987,246 48
(24,786.10)
1%
SOLID WASTE
473,718.74
33,86250
12,230.36
495,350.88
21.632 14
5%
AIR QUALITY MANAGEMENT
78,438.99
13,932 54
000
92,371 53
13.932.54
18%
PROPOSITION C
372,392.23
62,388 62
0.00
434,780 85
62,388.62
17%
PROPOSITION A
315,098.76
75,143.26
0.00
390,242.02
75,143.26
24%
PUBLIC SAFETY GRANTS
66,833.06
0.00
0.00
66.833.06
0.00
0%
MEASURE R
1.586.077.52
46.738.64
0,00
1,632,816.16
46738.64
3%
HABITAT RESTORATION
1,428,332,29
000
0.00
1,428,332 29
0.00
0%
SUBREGION 1 MAINTENANCE
822,484.01
000
2,78662
819,69739
(2,786.62)
0%
MEASURE A MAINTENANCE
4,352.89
000
000
4.35289
0,00
_ 0%
ABALONE COVE SEWER DISTRICT
67,072.41
0.00
3,940.36
63,132.05
(3.940.36)
6%
RPVTV
0.00
000
000
000
0..00
0%
GINSBURG CULTURE ARTS BUILDING
85,663.31
000
000
85,663.31
0,00
D%
DONOR RESTRICTED CONTRIBUTIONS
_ 875,175.10
1,500.00
315.70
876,35940
1,184.30
0%
QUIMBY
2.277.604,43
101,857.20
0.00
2.379.66163
101,85720
4%
LOW -MODERATE INCOME HOUSING
65,390.12
26,553 76
000
91,943 88 1
26,553.76
41%
AFFORDABLE HSNG IN LIEU
588,908.13
0.00
0.00
588,908.13
000
0%
EET
250,651.72
3,704.00
0.00
254,355.72
3,704,00
1
MEASURE A CAPITAL
7.44011
000
0.00
7,440.11
000
0%
BIKEWAYS
0..00
0.00
0.00
000
0.00
0%
UNDERGROUND UTILITIES
0.00
0.00
000
0.00
0.00
0"/
ROADWAY BEAUTIFICATION
000
0.00
0.00
0.00
0.00
0%
WATER QUALITY FLOOD PROTECTION
6.261.158.38 _
0.00
80,857.54
6.180,300.84
(80,857.54)
1%
REDEVELOPMENT OBLIGATION RETIRE
463.270 17
4.167.00
0.00
467,437.17
4,167.00
1%
IMPROVEMENT DISTRICT 9
000
0.00
0.00-
0,00
0.00
0%
SPECIAL TRUSTS
499,018 04
15.442.00
49,129.14465.330,90
(33,687 14)
7%
Subtotal _
20,608,384.43
542,997.21
368,974.46
20,782,407.18
174,022.75
1%
GRAND TOTAL
69.448.397.06
2.880.096.04
3.418.117.15
68.910.375.95
(538.021.11)
1%
Total Investment: 68,910,375 95
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2016
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
$
6,499,638
N/A
$
6,499,638
0 00 %
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
5
3,812,535
N/A
S
3,812,535
0 25 %
Petty Cash
N/A
N/A
N/A
On Demand
5
3,000
N/A
S
3,000
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
058%
CDARS - Malaga Bank
Malaga Bank
12/24/2015
26 weeks
6/23/2016
250,000
$
250,000
0 30 %
Citizens National
Bank
3/24/2016
52 weeks
3/23/2017
S
243,500
S
243,500
026%
Ever Bank
3/24/2016
52 weeks
3/23/2017
5
230,633
S
230,633
0 25 %
Flagstar Bank,
FSB
3/24/2016
52 weeks
3/23/2017
S
243,500
S
243,500
0 25 %
Parke Bank
3/24/2016
52 weeks
3/23/2017
S
243,500
S
243,500
0 25 %
Porsperity Bank
3/24/2016
52 weeks
3/23/2017
11,867
S
11,867
025%
The Park
National Bank
3/24/2016
52 weeks
3/23/2017
$
27,000
5
27,000
0.25%
Citizens Sate
CD - Bank of New York (Vinking Sparks)
Bank
4/29/2016
18 Mos
10/30/2017
5
250,000
S
250,000
075%
First Bank Puerto
Rico
4/29/2016
18 Mos
10/30/2016
$
250,000
S
250,000
080%
MB Financial
Bank
4/29/2016
18 Mos
10/29/2016
$
250,000
$
250,000
100%
United Bankers
Bank
5/2/2016
18 Mos
10/29/2018
$
250,000
5
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
11/5/2016
$
250,000
$
250,000
100%
Stander Bank
5/4/2016
5/4/2017
$
250,000
$
250,000
060%
TCF National
Bank
5/4/2016
18 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
18 Mos
11/6/2017
$
250,000
$
250,000
090%
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
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
5x7/2018
$
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
S
250,000
070%
Cit Bank NA
5/31/2016
12 Mos
5/31/2017
$
250,000
S
250,000
0.65%
BMW Bank North
America
5/27/2016
36 Mos
5/26/2019
$
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
125%
BMO Harris Bank
NA
6/3/2016
12 Mos
6/2/2017
$
250,032
$
250,032
065%
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
0.85%
A-3
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
100%
Capstone Bank
6/15/2016
36 Mos
6114/2019
$
250,000
$
250,000
1 20%
Capital Bank
Little Rock
6/22/2016
39 Mos
9/23/2019
$
250,000
$
250,000
1 20%
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
$
250,000
$
250,000
1 20%
Abacus Federal
Savings Bank
6/20/2016
36 Mos
9/17/2019
$
250,000
$
250,000
125%
Tab Bank Inc
7/1/2016
15 Mos
6/30/2017
$
250,000
$
250.000
0 80 %
Total Investment:
$
68,910,376
Total Investment Weighted Average Return
06%
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
JUNE 2016
■ Bank of the West
■ Malaga Bank
" State of California - LAIF
■ Malaga Bank - CDARS
■ Vining Sparks/Bank of New York - CD
MA