CC SR 20160906 K - July 2016 City Treasurer ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 09/06/2016
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the July 2016 Cash Balances/Monthly
Treasurer's Report.
RECOMMENDED COUNCIL ACTION:
Receive and file the July 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 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 July 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 $67,359,779, with more than $48 million or
71 % of the balance in the Local Agency Investment Fund (LAIF). The City has almost
$3.6 million or 5% of the total cash balance with Bank of the West, and over $3.8 million
with Malaga Bank. The City purchased 5 new Certificates of Deposit (CD) for a total of
$1,250,000 this month. The City now has total CD investments of $10.5 million or 16%
of total cash balance. 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 24% of the total cash
balance, and Capital Improvement Projects (CIP) Fund is over $27 million or 41 % of the
total cash balance. Overall, the City cash balance decreased by $1.5 million from last
month, and in comparison to the same period last year, the cash balance from last year
decreased by more than $2.8 million.
1
The major variance as compared to last year is disbursements from the General Fund,
CIP Fund, and Water Quality Flood Protection Fund. Typically City's projects are funded
by these three funds. The variance is mainly due to the timing of the invoice processing.
Harris & Associates, Hardy & Harper, John L. Hunter, and Southwest Pipeline
Trenchless Corp. are just a few of the City's largest contractors that submitted invoices.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2016
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Bank
of the West
OPERATING
Malaga
Bank
OPERATING
PETTY CASH LAIF-CITY
INVESTMENT
CDARS
INVESTMENT
CD
TOTAL CASH
YTD INT
RECEIVED
BEGINNING BALANCE
6,467,263.36
3,812,53468
3,00000 48,095,17148
1,250,00000
9,250,03151
68,878,00103
2,50000
PLUS: DEPOSITS
1,887,004 56
1,226,039 54
1,887,004 56
PLUS: INTEREST EARNINGS(1)
69,618 46
69,618 46
69,618 46
LESS: CHECK DISBURSEMENTS
(2,249,859 27)
(2,249,859 27)
LESS: ELECTRONIC DISBURSEMENTS(2)
(1,226,03954)
(1,226,03954)
ADJUSTMENTS(3)
1,05361
1,053.61
PLUS: TRANSFERS IN
1,250,000 00
1,250,000,00
LESS: TRANSFERS OUT
(1,250,000.00)
(1,250.000.00)
ENDING BALANCE
3,629,422.72
3,812,534 68
3.000.00 48.164,789.94
- 1,250.000.00
10.500,1031.51
67.359,778.85
SS,618.46
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
646,630 01
CalPers
110,416 21
ICMA&HSA
43,467 79
Retirement Health Savings Withholdings
15,904 62
FY15-16 Pers Lum Pymt
398,966 00
Sales Taxes
2,63200
Flexible Spending Accounts
2,35382
Postage
2,50000
Bank and Merchant Fees
3,16909
1,226,039 54
(3) The net adjustment was due to a void check and other deposit adjustment
JULY 2016 CASH BALANCE BY MAJOR FUNDS
n GENERAL FUND
a CIP
■ EQUIPMENT REPLACEMENT
■ 1911 ACT
HABITAT RESTORATION
QUIMBY
WATER QUALITY FLOOD
PROTECTION
I.OTHER RESTRICTED FUNDS
A-1
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2016
Change In Cash Balance
BALANCE Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month -End
Unrestricted
GENERALFUND
16,842,46068
1,652,192.81
2,046,408.71
16,448.244.78
(394.215.90)
2%
Restricted by Council Action
BEAUTIFICATION FUND
500.003 48
517.00
000
500,520.48
517.00
0%
CIP
27.769.626.62
28.561.00
262.112.82
27,536,074.80
(233.551 82)
1%
EQUIPMENT REPLACEMENT
3,016,811 20
3,200.00
15,943 27
3,004,067.93
(12,743.27)
0%
BUILDING REPLACEMENT
89900
000
0.00
89900
0.00
0%
EMPLOYEE BENEFITS
(30,601 34)
744,561 84
1,368,50722
(654,546.72)
(623,945.38)
100%
Subtotal
31,256,73896 1
776.839.84
1,646.563.31
30.387,015.49
(869,723.47)
3%
Restricted by Law or External Agencies
STREET MAINTENANCE
1.825.948.44
5.211.02
211.331.35
1619.828 11
(206.120.33)
11%
1972 ACT
145,905.02
3,482.34
3,50000
145,86736
(17.66)
O.R.
ELPRADO
25,15085
48.43
0,00
25,19928
48.43
0%
CDBG
(29.762 19)
4.79500
4,215.00
(29,182.19)
58000
2%
CDBG-R
0,00
0.00
0.00
000
0.00 _
0%
1911 ACT
1,987.24648
7.81193
26,74965
1,968,30876
(18.93772)
1%
SOLID WASTE
495,35088
11,52375
1_9,77447
487,10016
(8,25072)
_ 2%
AIR QUALITY MANAGEMENT
92,371.53
83.00
000
92.454 53
8300
0%
PROPOSITION C
434,780 85
43,293 08
000
478,073 93
43,293.08
10%
PROPOSITION
390.24202
52.055.64
472.16
441„825.50
51,58348
13%
PUBLIC SAFETY GRANTS
66,833 06
69.00
000
66,902.06
6900
0%
MEASURE R
1.632.816.16
3382331
000
1,666,639 47
33,823 31
2%
HABITAT RESTORATION
1,428.33229
1.494.00
35.125.00
1,394.701.29
(33.631.00)
2%
SUBREGION 1 MAINTENANCE
819,69739
851.00
3,98930
816,559.09
(3,138.30)
0%
MEASURE A MAINTENANCE
4,35289
4.00
000
4,35689
400
0%
ABALONE COVE SEWER DISTRICT
63,132 05
33984
2,07803 1
61,393 86
(1,738 19)
3%
RPVTV
0.00
_ 0.00
0.00
0.00
ODO
0%
GINSBURG CULTURE ARTS BUILDING
85.663.31
88.00
000
85,751.31 1
88.00
0%
DONOR RESTRICTED CONTRIBUTIONS
876,359.40
2.341.00
000
878,70040
2,34100
0%
QUIMBY
2,379.66163
2.34500
000
2.382,006 63
2.34500
0%
LOW -MODERATE INCOME HOUSING
91,943 88
4,470.56
4,40556
92,008.88
65-00
0%
AFFORDABLE HSNG IN LIEU
588,90813
60800
000
589.51613
60800
0%
EET
254,35572
235,00
0.00
254,59072
235.00
0%
MEASURE A CAPITAL
7.440.11
0.00
0.00
7,440.11
0.00
0%
BIKEWAYS
0.00
0.00
000
000
0.00
01;
UNDERGROUND UTILITIES
000
0.00
0.00
000
0.:00
0%
ROADWAY BEAUTIFICATION
000
0.00
0.00
0.00
0.00
0%
WATER QUALITY FLOOD PROTECTION
6,180.300 84
24.527 22
182.955.72
6,021,872 34
(158,428.50)
3%
REDEVELOPMENT OBLIGATION RETIRE
467.437 17
5,40300
000
472,840 17
5,403.00
1
IMPROVEMENT DISTRICT 9
000
0.00
0.00
000
000
O.R.
SPECIAL TRUSTS
464,333.48
86,704 00
51,293.69
499,743..79
35,410.31
8%
Subtotal _
20,T78,801.39
291,607.12
545.889.93
20.524.518.58
(254.282.81)
1%
GRAND TOTAL
68,878,001.03
2,720,639.77
4,236,86195
67,359,778.65
(1,518,222.18)
2%
Total Investment: 67,359,778 85
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 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
$
3,629,423
N/A
$
3,629,423
0 00 %
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,812,535
N/A
$
3,812,535
0.25%
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
$
48,164,790
N/A
$
48,164,790
059%
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
$
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
3/23/2017
$
243,500
$
243,500
025%
Parke Bank
3/24/2016
52 weeks
3/23/2017
$
243,500
$
243,500
025%
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
025%
Citizens Sate
CD - Bank of New York (Vinking Sparks)
Bank
4/29/2016
18 Mos
10/30/2017
$
250,000
$
250,000
0.75%
First Bank Puerto
Rico
4/29/2016
18 Mos
10/30/2016
$
250,000
$
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
$
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
11/5/2018
$
250,000
$
250,000
1.00%
Slander Bank
5/4/2016
5/4/2017
$
250,000
$
250,000
060%
TCF National
Bank
5/412016
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
1.05%
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
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
100%
Beal Bank USA
5/1112016
12 Mos
5/10/2017
S
250,000
$
250,000
0 70 %
Bank of India NY
5/12/2016
12 Mos
5/10/2017
S
250,000
$
250,000
0 70 %
Cit Bank NA
5/31/2016
12 Mos
5/31/2017
S
250,000
$
250,000
0 65 %
BMW Bank North
America
5/27/2016
36 Mos
5/28/2019
$
250,000
$
250,000
115%
Pacific
Continental Bank
5/31/2016
36 Mos
5/31/2019
S
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
6/1/2016
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
12/11/2017
Bank
6/10/2016
Firstrust Saving
250,000
Bank
6/10/2016
Farm Bureau
$
Bank
6/15/2016
Capstone Bank
6/15/2016
Capital Bank
6/15/2018
Little Rock
6/22/2016
Discover Bank
6/8/2016
Celtic Bank
6/15/2016
Abacus Federal
$
Savings Bank
6/20/2016
Tab Bank Inc
7/1/2016
Luana Savings
9/23/2019
Bank
7/8/2016
Wex Bank
7/8/2016
Communiy Finl
36 Mos
SVCS Bank
7/12/2016
First Western
S
Bank
7/15/2016
Signature Bank
6/1 412 01 9
of Arkansas
7/15/2016
18 Mos
12/11/2017
$
250,000
$
250,000
0.85%
24 Mos
6/11/2018
$
250,000
$
250,000
1,00%
24 Mos
6/15/2018
$
250,000
5
250,000
100%
36 Mos
6114/2019
$
250,000
$
250,000
120%
39 Mos
9/23/2019
$
250,000
S
250,000
1,20%
36 Mos
6110/2019
$
250,000
S
250,000
1 15%
36 Mos
6/1 412 01 9
$
250,000
5
250,000
120%
36 Mos
9/17/2019
$
250,000
$
250,000
125%
15 Mos
6/30/2017
$
250,000
$
250,000
080%
48 Mos
7/8/2020
$
250,000
$
250,000
1 15%
24 Mos
7/8/2018
$
250,000
$
250,000
095%
36 Mos
7/12/2019
$
250,000
$
250,000
105%
36 Mos
7/15/2019
$
250,000
$
250,000
100%
48 Mos
7/15/2020
$
250,000
$
250,000
1 15%
Total Investment- $ 67,359,779
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,
�(.
612 9�l
Treasurer I
Dated
MA
2p/A
SUMMARY OF CASH BALANCE BY INSTITUTION
JULY 2016
■ Bank of the West
y Malaga Bank
State of California - LAIF
■ Malaga Bank - CDARS
■ Vining Sparks/Bank of New York - CD
CEJ