CC 20161206 J October 2016 City Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 12/06/2016
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the October 2016 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
Receive and file the October 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'
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 October 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 $65,045,202, with more than $41.8 million
or 64% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $3.3 million or 5% of the total cash balance with Bank of the West, and over $3.8
million or 6% with Malaga Bank. In the month of October, the City purchased an
additional five (5) Certificates of Deposit (CD) for a total of $1,250,000. The City now
has total CD investments of $14.75 million or 23% of the 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 $28 million or 44% of the
total cash balance. Overall, the City cash balance decreased by almost $800,000 from
last month, and in comparison to the same period last year, the cash balance
decreased by more than $500,000.
1
The major variance as compared to last year are timing disbursements in the CIP Fund.
The major disbursements included Hardy & Harper, Anderson Penna Partners, and
Sunbeam Consulting for the residential rehabilitation project.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
OCTOBER 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
2,510,139.10
3,615,62267
3.000.00 44,764,789.94
1,250,00000
13,500,03151
65,643,58322
3,589.69
PLUS: DEPOSITS
1,670,332 74
1,670,332 74
PLUS: INTERESTEARNINGS(1)
2,405,11
71,78178
74,18689
74,18689
LESS: CHECK DISBURSEMENTS
(1,982,070 88)
(1,982,070 88)
LESS: ELECTRONIC DISBURSEMENTS(2)
(563,586 16)
(563,586 16)
ADJUSTMENTS(3)
2,75641
2,75641
PLUS: TRANSFERS IN
3,000,00000
1,250,00000
4,250,00000
LESS: TRANSFERS OUT
(1,250.000.00)
(3,000,000.00)
(4,250,000.00)
ENDING BALANCE
3,387,571 21
3,818,027.78
3,000.00 41,836,577 72
1,250,000.00
id,750,D31.51
65,045,202.22
74.186.89
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
439,019 18
CalPers
75,146 65
ICMABHSA
29,936 72
Retirement Health Savings Withholdings
10,515.04
Sales Taxes
2,56900
Flexible Spending Accounts
30768
Postage
2,50000
Bank and Merchant Fees
3,589.69
563, 586.16
(3) The net adjustment was due to a void check, and other deposit adjustment
SEPTEMBER 2016 CASH BALANCE BY MAJOR FUNDS
■GENERALFUND
■ 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
OCTOBER 2016
Change In Cash Balance
BALANCE Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month -End
Unrestricted
GENERALFUND
14,132,79211
1,284,815.70
1,047,919.46
14,369,688.35
236.89624
2%
Restricted by Council Action
BEAUTIFICATION FUND
476,095 73
541 20
000
476.636 93
541 20
0%
CIP
29,801,25803
175,59413
1,086,76484
28,890,08732
(911,17071)
3%
EQUIPMENT REPLACEMENT
2,970,748 82
3,33409
28,357 46
2.945.725 45
(25.023 37)
1%
BUILDING REPLACEMENT
000
067
000
067
067
0%
EMPLOYEE BENEFITS
(747,590 86)
514,86627
631,344 37
(864,066 96)
(116,478 10)
16%
Subtotal
32,500,51172
694,336.36
1,746,466.67
31,448,38141
1.052.130,31
3%
Restricted by Law or External Agencies
STREET MAINTENANCE
1,419,25152
7,84264
153,31419
1.273.77997
(145,47155)
10%
1972 ACT
15,301 01
71 51
3.50000
11,872 52
(3,428 49)
22%
EL PRADO
25,291 22
2808
000
25,319 30
2808
0%
CDBG
26,351 00
75.00
93500
25,491 00
(860.00)
3%
CDBG-R
0.00
000
0.00
000
000
0%
1911 ACT
1,798,766 56
4,05280
25,840.49
1,776,978 87
(21.787 69)
1%
SOLID WASTE
467,10191
6,147.27
7,42895
465,82023
(1,28168)
0%
AIR QUALITY MANAGEMENT
82,020 47
10429
000
82,124 76
10429
0%
PROPOSITION C
462,422 25
44,792 64
7,98000
499,234 89
36,812 64
6%
PROPOSITION A
275,810.73
52,736 96
531 93
328.015 76
52,205 03
19%
PUBLIC SAFETY GRANTS
41,90506
48,23616
0.00
90,14122
48.23616
100%
MEASURE R
1,753,892 27
34,533 27
000
1,788.425 54
34.533 27
2%
HABITAT RESTORATION
1,301,01729
39,29702
35,12500
1,305,18931
4.17202
0%
SUBREGION 1 MAINTENANCE
781.54943
902.37
1,12963
781,32217
(22726)
0%
MEASURE A MAINTENANCE
17100
47,174 06
7,44037
39,90469
39,733 69
100%
ABALONE COVE SEWER DISTRICT
46,770 33
6913
4,03363
44,805 83
(3.964 50)
8%
RPVTV
000
000
000
000
000
0%
GINSBURG CULTURE ARTS BUILDING
85,754 31
9531
000
85,849 62
9531
0%
DONOR RESTRICTED CONTRIBUTIONS
881,55693
94004
2,35082
88014815
(1,41078)
0%
QUIMBY
2,386,586 B3
19,64105
0.00
2,406,227.86
19,64105
1%
LOW -MODERATE INCOME HOUSING
96,800.36
10404
000
96,904 42
104.04
0%
AFFORDABLE HSNG IN LIEU
509,543 13
65823
000
590.201 36 1
65823
0%
EET
251,47272
3,96963
000
255,442.35
3,96963
2%
MEASURE A CAPITAL
7,44011
0.00
000
7.44011
000
0%
BIKEWAYS
000
000
000
0.00
000
0%
UNDERGROUND UTILITIES
000
000
000
000
000
0%
ROADWAY BEAUTIFICATION
000
000
000
000
000
0%
WATER QUALITY FLOOD PROTECTION
5,489,956 75
12,405.33
61.502 67
5,440,859 21
(49,097 54)
1%
REDEVELOPMENT OBLIGATION RETIRE
446.468 67
51786
000
446,986 53
51786
0%
IMPROVEMENT DISTRICT 9
000
000
000
000
0.00
0%
SPECIAL TRUSTS
475,075 51
13,653 70
10,082 44
478,646 77
3.57126
1%
Subtotal
19.21027939
338,04639
321,195.32
19,227,132.46
16,85307
0%
GRAND TOTAL
65,843,58322 f
2.317,200.45
3,115,58145
65,045,202 22
(798,38100)
1%
Total Investment: 65,045,202 22
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
OCTOBER 2016
Investment
Issuerof
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
$
3,387,571
N/A
$
3,367,571
000%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,818,028
N/A
$
3,B18,02B
025%
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
$
3,000
000%
Slate of
Local Agency Investment Fund (LAIF-CITY)
California
N/A
N/A
On Demand
$
41,836,572
N/A
$
41,836,572
0.65%
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
3
243,500
$
243,500
025%
Ever Bank
3/24/2016
52 weeks
3/23/2017
S
230,633
$
230,633
025%
Flagstar Bank,
FSB
3/24/2016
52 weeks
3/23/2017
$
243,500
$
243,500
025%
Parke Bank
3124/2016
52 weeks
3/23/2017
$
243,500
$
243,500
025%
Porsperity Bank
3/24/2016
52 weeks
3/23/2017
11,867
$
11,867
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
512/2016
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
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
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
1 25%
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
11/612017
$
250,000
$
250,000
080%
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
5/7/2018
$
250,000
$
250,000
1 AO%
Key Bank
5/11/2016
24 Mos
511112018
$
250,000
$
250,000
1.00%
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
$
250,000
065%
BMW Bank North
America
5/27/2016
36 Mas
5/28/2019
$
250,000
$
250,000
1 15%
Pacific
Continental Bank
5/31/2016
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
070%
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
16 Mos
1 21512 01 7
$
250,000
$
250,000
090%
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
085%
Firstrust Saving
Bank
6/1012016
24 Mos
6/11/2018
$
250,000
$
250,000
100%
Farm Bureau
Bank
6/15/2016
24 Mos
6/15/2018
$
250,000
$
250,000
100%
Capstone Bank
6/15/2016
36 Mos
6/14/2019
$
250,000
$
250,000
120%
Capital Bank
Little Rock
6/22/2016
39 Mas
9/2312019
$
250,000
$
250,000
1.20%
Discover Bank
61612016
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
9/1 712 01 9
$
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 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
5
250,000
100%
Signature Bank
of Arkansas
7/15/2016
48 Mos
7 /1 512 020
$
250,000
$
250,000
1 15%
Queensborough
National Bank
8/10/2016
24 Mos
8 /1 012 01 8
$
250,000
$
250,000
090%
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
$
250,000
1 15%
Freedom Bank of
Virginia
8/17/2016
12 Mos
8/16/2017
$
250,000
$
250,000
070%
Caldwell Bank &
Trust Co
8/19/2016
36 Mos
8/19/2019
$
250,000
$
250,000
100%
Live Oak
Banking
Company
8/1912016
48 Mos
8/19/2020
$
250,000
$
250,000
1 25%
Capital Bank
Corp
8/31/2016
24 Mos
8/31/2018
$
250,000
$
250,000
105%
Isabella Bank
9/7/2016
36 Mos
9/9/2019
$
250,000
$
250,000
1 15%
Bank of
China/New York
9/8/2016
12 Mos
918/2017
$
250,000
$
250,000
085%
Gold Coast
Bank/Chicago
9/9/2016
45 Mas
6/9/2020
$
250,000
$
250,000
115%
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%
Benificial Bank
10/7/2016
48 Mos
10/7/2020
$
250,000
$
250,000
135%
Sallie Mae
Bank/Salt Lake
10/12/2016
36 Mos
10/15/2019
$
250,000
$
250,000
1.30%
Winona Natinal
Bank
10113/2016
12 Mos
10/13/2017
$
250,000
$
250,000
075%
Capital One NA
10/13/2016
48 Mos
10113/2020
$
250,000
$
250,000
140%
Bank of New
England NH
10/2112016
36 Mos
10/21/2019
$
250,000
$
250,000
120%
Total Investment: $ 65,045,202
Total Investment Weighted Average Return 07%
WE
2%
SUMMARY OF CASH BALANCE BY INSTITUTION
SEPTEMBER 2016
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
■ Bank of the West
. Malaga Bank
• State of California - LAIF
■ Malaga Bank - CDARS
■ Vining Sparks/Bank of New York - CD
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,
it 2,6
ueu",- / /1(0
Treasurer It5ilbd
CEJ