CC SR 20161004 D - Cash Balances Monthly Treasurer ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 10/04/2016
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the August 2016 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the August 2016 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 Manager I**-
-�l
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 August 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 $67,042,417, with more than $47 million or
70% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $2.5 million or 4% of the total cash balance with Bank of the West, and over $3.8
million or 6% with Malaga Bank. The City purchased 7 new Certificates of Deposit (CD)
for a total of $1,750,000 this month. The City now has total CD investments of $12.25
million or 18% 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 $14 million or 22% of the total cash
balance, and Capital Improvement Projects (CIP) Fund is over $30 million or 45% of the
total cash balance. Overall, the City cash balance decreased by almost $330,000 from
1
last month, and in comparison to the same period last year, the cash balance
decreased by $252,000.
The major variance as compared to last year is disbursements from the CIP Fund and
the Water Quality Flood Protection Fund. In accordance with the City budget, City
projects are mainly funded by General Fund, the CIP Fund, and the Water Quality Flood
Protection Fund. 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
AUGUST 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
3,638,70197
3,815,62267
3,00000 48,164,78994
1,250,00000
10,500,031,51
67,372,14609
549,915 42
PLUS: DEPOSITS
2,462,34844
2,462,348.44
PLUS: INTERESTEARNINGS(1)
0.00
69,61846
LESS: CHECK DISBURSEMENTS
(2,227,11930)
(2,227,11930)
LESS: ELECTRONIC DISBURSEMENTS(2)
(549,91542)
(549,91542)
ADJUSTMENTS(3)
(15,042.32)
(15,042 32)
PLUS:TRANSFERSIN
1,000,00000
1,750,000.00
2,750,00000
LESS: TRANSFERS OUT
(1.750.000 00)
(1,000.00D 00)
(2,750,000 00)
ENDING BALANCE
2.558.973.37
3,815,622.67
3.000.00 47.164.789.94
1.250 000 00
12.250,031.51
67,042.417 49
69,618 46
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
428,264 39
CalPers
75,413.66
ICMA&HSA
29,783 33
Retirement Health Savings Withholdings
10,716 93
GASB 68 Report
1,95000
Flexible Spending Accounts
531 36
Bank and Merchant Fees
3,25576
549,915 42
(3) The net adjustment was due to a void check, a returned item, and other deposit adjustment
AUGUST 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
AUGUST 2016
Change In Cash Balance
BALANCE Ending Cash from Previous
FORWARD DEBIT CREDIT CASH Balance Month -End
Unrestricted _
GENERALFUND
14,131,989.73
2,014,842.13
1,540,30862
14,606,523.24
474.533,51
3%
Restricted by Council Action
BEAUTIFICATION FUND
476,095 73
0.00
000
476,095.73
0.00
0%
CIP
30,119.49458
11,42700
82,06060
30,048,86_098
(70.633.60)
0%
EQUIPMENT REPLACEMENT
3,005,272.65
0.00
26,57480
2.978.697 85
(26.574.80)
1%
BUILDING REPLACEMENT
89900
0.00
000
89900
0,00
0%
EMPLOYEE BENEFITS _
_ (654.532 72)
504.322,03
550.646.92
(700.857 61)
(46 324.89)
7%
Subtotal
32,947,229.24
515,749,03
659,282.32
32,803,695.95
(143,533.29)
0%
Restricted by Law or External Agencies
STREET MAINTENANCE
1,861,47023
166,953..68
622,31247
1,426,11144
(455,358.79)
24%
1972 ACT
29,792.36
2,033.65
000
31.826 01
2,033..65
7%
EL PRADO
25,199 28
91.94
000
25,291 22
91.94
0%
CDBG
(29,182.19)
25,84600
000
(3,336.19)
25.846.00
89%
CDBG-R
000
000
000
000
0.00
0%
1911 ACT
1.858.048.76
23.,667.13
25.87592
_ 1,855.839.97
(2.,208.79)
0%
SOLID WASTE
454,022.16
4,409.02
10,57334
447.857.84
(6.164.32)
1%
AIR QUALITY MANAGEMENT
92,457.53
14.562 94
000
107,020 47
14,562.94
16%
PROPOSITION C
346,589.93
57,262,93
000
403,852.86
57,262.93
17%
PROPOSITION
441,838.,50
69,035.26
000
510,873.76
69,035:26
16%
PUBLIC SAFETY GRANTS
41.905 06
0,00
000
41.905.06
0.00
7./.-
%MEASURE
MEASURER
1.666.711.47
42,950.94
000
1.709.662.41
42.950 94
3%
HABITAT RESTORATION
1.426.01729
0.00
000
1.426.01729
000
0%
SUBREGION 1 MAINTENANCE
826,596.09
0..00
2,52055
824,075.54
(2,520.55)
0%
MEASURE A MAINTENANCE
40 183.89
0.00
000
40 183 89
0.00
-U./.
ABALONE COVE SEWER DISTRICT
81,571.86
0.00
5.12944
76_.442.42
(5,12944)
6%
RPVTV
0.00
0.00
000
_ 0,00
000
0
GINSBURG CULTURE ARTS BUILDING
85,754.31
0.00
000
85.75431
0,00
0%
DONOR RESTRICTED CONTRIBUTIONS
764.,987.40
1,500.00
17847
766,308.93
1,321.53
0%
QUIMBY
2.369.610 63
16.976,20
000
2,386,586 83
16:976.20
1%
LOW -MODERATE INCOME HOUSING
92,011.68
0.00
000
92,011 88
0.00
0%
AFFORDABLE HSNG IN LIEU
589.543.13
0.00
000
589.543.13
0.00
0%
EET
204,600.72
6,336.00
000
210,936.72
6,336.00
3%
MEASURE A CAPITAL
7.440.11
0.00
000
7.44011
000
0%
BIKEWAYS
0..00
0.00
0.00
0..00
0.00
071.
UNDERGROUND UTILITIES
0.00
0.00
000
000
0,00
0
ROADWAY BEAUTIFICATION
0.00
0.00
000
000
0,00
0%
WATER QUALITY FLOOD PROTECTION
6.022,154 34
4.867 30419,012
60
5.60_8,009.04
(414,145,3{07%
REDEVELOPMENT OBLIGATION RETIRE
472,861.17
0.00
2.45000
470,411 17
(2.450,00)
1
IMPROVEMENT DISTRICT 9
0.00
0.00
000
0.00
0 00
0
SPECIAL TRUSTS
500,741.21
30,180.7339.349
75
491.572.19
(9.169.02)
2%
Subtotal
20,292,927.12
466,673.72127,402.54
_19„632,19630
(660,728,82
3%
GRAND TOTAL
67,372,146.09
2,997,264,8846
67,042,417.49
329.728,60.
01/.
Total Investment: 67,042,417 49
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 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
$
2,558,973
N/A
S
2,558,973
000%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,815,623
N/A
S
3,815,623
0.25%
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
S
3,000
0,00%
State of
Local Agency Investment Fund (LAIF-CITY)
California
N/A
N/A
On Demand
$
47,164,790
N/A
S
47,164,790
0,61%
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
S
230,633
0 25 %
Flagstar Bank,
FSB
3/24/2016
52 weeks
3/23/2017
$
243,500
S
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
S
11,867
0,25%
The Park
National Bank
3/24/2016
52 weeks
3/23/2017
$
27,000
$
27,000
0.25%
Citizens Sate
CD - Bank of New York (Vinking Sparks)
Bank
4/29/2016
18 Mos
10/30/2017
$
250,000
S
250,000
0.75%
First Bank Puerto
Rico
4/29/2016
18 Mos
1 0130/2 01 6
$
250,000
$
250,000
0.80%
MB Financial
Bank
4/29/2016
18 Mos
10/29/2016
$
250,000
S
250,000
1,00%
United Bankers
Bank
5/2/2016
18 Mos
10/29/2018
$
250,000
S
250,000
1.00%
Comenity Capital
Bank
5/2/2016
36 Mos
5/2/2019
$
250,000
S
250,000
120%
Medallion Bank
Utah
5/3/2016
30 Mos
11/5/2018
$
250,000
$
250,000
100%
Stander Bank
5/4/2016
5/4/2017
$
250,000
$
250,000
0.60%
TCF National
Bank
5/4/2016
18 Mos
11/6/2017
$
250,000
S
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
S
250,000
1.25%
Capital One
Bank USA
5/4/2016
36 Mos
5/6/2019
$
250,000
S
250,000
1.20%
Wells Fargo
Bank
5/4/2016
36 Mos
5/6/2019
$
250,000
S
250,000
125%
Safra National
Bank
5/4/2016
18 Mos
11/6/2017
$
250,000
S
250,000
0.80%
Bank Leumi USA
NY
5/512016
12 Mos
5/5/2017
$
250,000
S
250,000
0.70%
Investors
Bank/Short Hills
5/5/2016
24 Mas
5/4/2018
$
250,000
S
250,000
100%
Ally Bank
5/5/2016
30 Mos
11/5/2018
$
250,000
S
250,000
1 10%
Marlin Business
Bank
5/6/2016
24 Mos
5!7/2018
$
250,000
$
250,000
1.00%
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
$
250,000
0 70 %
Cit Bank NA
5/31/2016
12 Mos
5/31/2017
$
250,000
$
250,000
065%
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
$
250,000
$
250,000
1 10%
Bank of America
NA
6/2/2016
12 Mos
6/2/2017
$
250,000
$
250,000
070%
Triad Bank
6/2/2016
46 Mos
4/2/2020
$
250,000
$
250,000
1 25 %
BMO Harris Bank
NA
6/3/2016
12 Mos
6/2/2017
$
250,032
$
250,032
0 65 %
Pacific Premier
Bank
6/3/2016
18 Mos
12/5/2017
$
250,000
$
250,000
090%
Community Bank
Chesapeake
6/8/2016
18 Mos
12/8/2017
$
250,000
$
250,000
085%
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
S
250,000
$
250,000
1.00%
Capstone Bank
6/15/2016
36 Mos
6/14/2019
S
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
s
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%
Luana Savings
Bank
7/8/2016
48 Mos
7/8/2020
$
250,000
$
250,000
115%
Wax Bank
7/8/2016
24 Mos
7/8/2018
$
250,000
$
250,000
0 95 %
Communiy Finl
SVCS Bank
7/12/2016
36 Mos
7/12/2019
$
250,000
$
250,000
1.05%
First Western
Bank
7/15/2016
36 Mos
7/15/2019
$
250,000
$
250,000
1 00 %
Signature Bank
of Arkansas
7/15/2016
48 Mos
7/15/2020
$
250,000
$
250,000
1 15%
Queensborough
National Bank
8/10/2016
24 Mos
8/10/2018
$
250,000
$
250,000
0.90%
Carroll County
State Bank Iowa
8/12/2016
36 Mos
8/12/2019
$
250,000
$
250,000
100%
Everbank/
Jacksonville FL
8/12/2016
36 Mos
8/12/2019
$
250,000
S
250,000
1 15%
Freedom Bank of
Virginia
8/17/2016
12 Mos
8/16/2017
$
250,000
s
250,000
0 70 %
Caldwell Bank &
Trust Co.
8/19/2016
36 Mos
8/19/2019
$
250,000
S
250,000
100%
Live Oak
Banking
Company
8/19/2016
48 Mos
6/19/2020
$
250,000
S
250,000
125%
Capital Bank
Corp
8/31/2016
24 Mos
8/31/2018
$
250,000
S
250,000
1 05%
Total Investment: $ 67,042,417
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,
Treasurer2211 julk �
Og
1E
2,
SUMMARY OF CASH BALANCE BY INSTITUTION
AUGUST 2016
■ Bank of the West
■ Malaga Bank
State of California - LAIF
■ Malaga Bank - CDARS
Vining Sparks/Bank of New York - CD
CEJ