CC 20161101 J Monthly Treasurer's Report.pdfRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 11/01/2016
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the September 2016 Cash
Balances/Monthly Treasurer's Report
RECOMMENDED COUNCIL ACTION:
Receive and file the September 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 7L
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, City Manager')
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 September 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 $65,843,583, with more than $44.7 million
or 68% 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. In the month of September, the City purchased
additional 5 Certificates of Deposit (CD) for a total of $1,250,000. The City now has total
CD investments of $13.5 million or 20% 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 21 % of the total cash
balance, and Capital Improvement Projects (CIP) Fund is over $29 million or 45% of the
total cash balance. Overall, the City cash balance decreased by more than $1.2 million
from last month, and in comparison to the same period last year, the cash balance
increased by more than $966,000.
1
The major variance as compared to last year are timing disbursements and new
projects from the General Fund, CIP Fund, Water Quality Flood, and Prop A Fund. The
major disbursements include Vigilant Solutions for the ALPR Camera project, City's
contribution to the Palos Verdes Peninsula Transit, Southwest Pipeline Trenchless
Corp, and Concept Consultant. The increased cash balance from the same period last
year was due to the City receiving one-time developer fees.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 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
CO
TOTAL CASH
YTD INT
RECEIVED
BEGINNING BALANCE
2,615,97337
3,815,62267
3,00000 47,164,78994
1,250,00000
12,250,03151
67,099,417.49
560,008 66
PLUS: DEPOSITS
1,995,087.64
1,995,087 64
PLUS: INTERESTEARNINGS(1)
000
69,61846
LESS: CHECK DISBURSEMENTS
(2,692,808 16)
(2,692,808 16)
LESS: ELECTRONIC DISBURSEMENTS(2)
(560,008 66)
(560,008.66)
ADJUSTMENTS(3)
1,89491
1,89491
PLUS: TRANSFERS IN
2,400,000 00
1,250,000 00
3,650,000 00
LESS: TRANSFERS OUT
(1,250,00000)
(2.400,000,00)
(3.650,000.00)
ENDING BALANCE
2,510,139.10
3,815,62267
3,000 00 44,764,789 94
1.250,000.00
13,500,031.51
65,843,58322
69,618 46
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
439,091 28
CalPers
74,284 75
ICMA&HSA
29,809 88
Retirement Health Savings Withholdings
10,619 85
Flexible Spending Accounts
30768
Postage
2,49957
Bank and Merchant Fees
3,39565
560,008 66
(3) The net adjustment was due to a void check, and other deposit adjustment
SEPTEMBER 2016 CASH BALANCE BY MAJOR FUNDS
■ GENERAL FUND
■ CIP
■ EQUIPMENT REPLACEMENT
is 1911 ACT
HABITAT RESTORATION
QUIMBY
WATER QUALITY FLOOD
PROTECTION
■ OTHER RESTRICTED FUNDS
A-1
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2016
Changan Cash Balance
BALANCE Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month -End
Unrestncted
GENERALFUND
14.828,239 60
1,770,21972
2,465,667.21
14,132,792.11
(695,447.49)
5%
Restricted by Couml Action
BEAUTIFICATION FUND
476,095 73
0.00
000
476,095 73
000
0%
CIP
29.935,110 98
000 _
133.B52 95
29,801,256 03
(133,852 95)
0%
EQUIPMENT REPLACEMENT
2,978.697 85
000
7,949 03
2,970,748 82
(7.949 03)
0%
BUILDING REPLACEMENT
000
000
000
000
000
0%
EMPLOYEE BENEFITS
(670,270 27)
555,172 24
632.492 63
(747,590 86)
(77 320 59)
12%
Subtotal
32,719,63429
555,172.24
774,294.81
32,500,511.72
(219,12257)
1%
Restricted by Law or External Agencies
STREET MAINTENANCE
1,426,11144
72,16107
79,02099
1,419,25152
(6,85992)
0%
1972 ACT
31,82601
000
16,525.00
15,30101
(16,52500)
52%
EL PRADO
25,291 22
000
000
25,291 22
000
0%
CDBG
26,426 00
000
7500
26,351 00
(75 00)
0%
CDBG-R
000
000
000
000
000
0%
1911 ACT
1,855,839 97
000
57,073 41
1,798,766 56
(57.073 41)
3%
SOLID WASTE
447,85764
34.112 50
14,866 43
467,101 91
19,244 07
4%
AIR QUALITY MANAGEMENT
107,020 47
000
25,000 00
82.020 47
(25,000 00)
23%
PROPOSITION C
403,852 86
56,569 39
000
462,422 25
58,569 39
15%
PROPOSITION A
510,873 76
70.593.97
305,657 00
275.810.73
(235 06.3 03)
46%
PUBLIC SAFETY GRANTS
41,905 06
000
000
41,905.06
000
0%
MEASURE R
1,709,662 41
44,229 86
000
1,753,892 27
44.229 86
3%
HABITAT RESTORATION
1,301,017 29
000
000
1,301.017 29
000
0%
SUBREGION 1 MAINTENANCE
784.075.54
000
2,52611
781,54943
(2,52611)
0%
MEASURE A MAINTENANCE
171.00
0.00
000
171.00
000
0%
ABALONE COVE SEWER DISTRICT
76,442 42
000
27,672 09
48,770 33
(27,672 09)
36%
RPVTV
000
000
000
000
000
0%
GINSBURG CULTURE ARTS BUILDING
85,754 31
000
000
85,754 31
000
0%
DONOR RESTRICTED CONTRIBUTIONS
880,058 93
1,50000
000
881,558 93
1,50000
0%
QUIMBY
2,386,58663
000
000
2.386.586 83
0.00
0%
LOW -MODERATE INCOME HOUSING
96.800 38
000
000
96,800 38
000
0
AFFORDABLE HSNG IN LIEU
569.543 13
000
000
589.543 13
000
0%
EET
210,936 72
40,536 00
000
261,472 72
40,536 00
19/7.
MEASURE A CAPITAL
7,44011
000
000
7,44011
000
0%
BIKEWAYS
000
000
DOD
000
000
0%
UNDERGROUND UTILITIES
000
000
000
000
000
0%
ROADWAY BEAUTIFICATION
000
000
000
000
000
0%
WATER QUALITY FLOOD PROTECTION
5,608,009 04
000
118 052 29
5,489.956 75
(118.052.29)
2%
REDEVELOPMENT OBLIGATION RETIRE
446,468 67
000
000
446,468 67
000
0%
IMPROVEMENT DISTRICT 9
000
000
000
000
000
0%
SPECIAL TRUSTS
491,572 19
15,53610
32.032 78
475,075 51
(16,496 68)
3%
Sut}total
19,551,54360
337,238.89
678,50310
19,210,279.39
(341,26421)
296
GRAND TOTAL 1
67,099,417 49 1
2,662,630 85
3,918,465.12
65,843,583 22
(1.255.834 271
2%
Total Investment: 65,843,583 22
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 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
$
2,510,139
N/A
$
2,510,139
000%
Checking Accounts
Malaga Bank
N/A
NIA
On Demand
$
3,815,623
N/A
$
3,815,623
025%
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
NIA
On Demand
$
44,764,790
NIA
$
44,764,790
063%
CDARS - Malaga Bank
Malaga Bank
12/24/2015
26 weeks
6/23/2016
250,000
$
250,000
030%
Citizens National
Bank
3/24/2016
52 weeks
3/23/2017
S
243,500
$
243,500
025%
Ever Bank
3/24/2016
52 weeks
3/23/2017
S
230,633
S
230,633
025%
Flagstar Bank,
FSB
3/24/2016
52 weeks
3/2312017
$
243,500
$
243,500
025%
Parke Bank
3/24/2016
52 weeks
3/23/2017
$
243,500
$
243,500
0.25%
PorsperilyBank
3/24/2016
52 weeks
3/23/2017
11,867
$
11,867
025%
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
$
250,000
075%
First Bank Puerto
Rico
4/29/2016
18 Mos
10/30/2016
$
250,000
$
250,000
0.80%
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
5/212019
$
250,000
$
250,000
1.20%
Medallion Bank
Utah
5/3/2016
30 Mos
11/5/2018
$
250,000
$
250,000
100%
Slander Bank
5/4/2016
5/4/2017
$
250,000
$
250,000
060%
TCF National
Bank
514/2016
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
1 25%
Safra National
Bank
5/4/2016
18 Mos
11/6!2017
$
250,000
S
250,000
060%
Bank Leumi USA
NY
5/5/2016
12 Mos
5/512017
6
250,000
S
250,000
070%
Investors
Bank/Short Hills
5/5/2016
24 Mos
5/4/2018
$
250,000
S
250,000
100%
Ally Bank
51512016
30 Mos
11/5/2018
$
250,000
$
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
511112018
$
250,000
$
250,000
1.00%
Beal Bank USA
5/1112016
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
070%
Cit Bank NA
5/31/2016
12 Mos
5/31/2017
$
250,000
$
250,000
065%
BMW Bank North
America
5/27/2016
36 Mas
5/28/2019
$
250,000
$
250,000
1 15%
Pacific
Continental Bank
5/3112016
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
1215/2017
$
250,000
$
250,000
090%
Community Bank
Chesapeake
6/6/2016
18 Mos
12/8/2017
$
250,000
$
250,000
065%
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
100%
Farm Bureau
Bank
6/15/2016
24 Mas
6/15/2018
$
250,000
$
250,000
1.00%
Capstone Bank
6/15/2016
36 Mos
6/14/2019
$
250,000
$
250,000
120%
Capital Bank
Little Rock
6/22/2016
39 Mos
9/23/2019
$
250,000
$
250,000
120%
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
120%
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
080%
Luana Savings
Bank
7/8/2016
48 Mos
7/8/2020
$
250,000
$
250,000
1 15%
Wax Bank
7/8/2016
24 Mos
7/812018
$
250,000
$
250,000
0.95%
Communiy Fin]
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
100%
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
1,00%
Everbank/
Jacksonville FL
8/12/2016
36 Mos
8/12/2019
$
250,000
$
250,000
1 15%
Freedom Bank of
Virginia
8/17/2016
12 Mos
8/16/2017
$
250,ODO
$
250,000
070%
Caldwell Bank &
Trust Co
8/19/2016
36 Mos
8/19/2019
$
250,000
$
250,000
100%
Live Oak
Banking
Company
611912016
46 Mos
8/19/2020
$
250,000
$
250,000
125%
Capital Bank
Corp
8/31/2016
24 Mos
8/31/2018
$
250,000
$
250,000
105%
Isabella Bank
9(1/2016
36 Mos
9/9/2019
$
250,000
$
250,000
1 15%
Bank of
China/New York
9/8/2016
12 Mos
9/8/2017
$
250,000
$
250,000
0.85%
Gold Coast
Bank/Chicago
9/9/2016
45 Mos
6/9/2020
$
250,000
$
250,000
1,15%
Bankers Bank of
the West
9/14/2016
36 Mos
9/13/2019
$
250,000
$
250,000
1 15%
Yadkin Bank
9/19/2016
36 Mos
9/19/2019
$
250,000
$
250,000
1.10%
Total Investment: $ 65,843,583
Total Investment Weighted Average Return 07%
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 t
/*,-�
TreaskV Dated
0
1E
SUMMARY OF CASH BALANCE BY INSTITUTION
SEPTEMBER 2016
■ Bank of the West
d Malaga Bank
State of California - LAIF
Malaga Bank - CDARS
Vining Sparks/Bank of New York - CD
CEJ