CC SR 20170207 E - City December Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 02/07/2017
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the December 2016 Cash
Balances/Monthly Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the December 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
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, City Manager'/ -",,.,11-117
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 December 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 $64,647,677, with more than $35.3 million
or 55% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $7.7 million or 12% of the total cash balance with Bank of the West, and over $3.8
million or 6% with Malaga Bank. In addition, the City has a total Certificates of Deposit
(CD) investments of $16.5 million or 25% 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 $13 million or 20% of the total cash
balance, and Capital Improvement Projects (CIP) Fund is over $28 million or 43% of the
total cash balance. Overall, the City cash balance increased by almost $800,000 from
last month, and in comparison to the same period last year, the cash balance increased
by over $3.3 million.
1
The major variances as compared to last year are the timing issues of disbursements
and the revenue received. A large disbursement in the CIP Fund was associated with
the residential rehabilitation project on Hawthorne Boulevard and Palos Verdes Drive
South. Other factors included receiving two months' Highway User Tax apportionments,
the Community Development Block Grant (CDBG) reimbursement, the Measure A
Maintenance grant reimbursement, and the Water Quality Flood Protection
apportionment in December 2015.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 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
3,948,168.46
3,818,027.78
3,000.00 38,336,571.72
1,250,000.00
16,500,031.51
63,855,799.47
827,692.91
PLUS: DEPOSITS
5,276,453.63
5,276,453.63
PLUS: INTERESTEARNINGS(1)
0.00
74,186.89
LESS: CHECK DISBURSEMENTS
(3,651,027.73)
(3,651,027.73)
LESS: ELECTRONIC DISBURSEMENTS(2)
(827,692.91)
(827,692.91)
ADJUSTMENTS(3)
(5,855.00)
(5,855.00)
PLUS: TRANSFERS IN
3,000,000.00
3,000,000.00
LESS: TRANSFERS OUT
(3,000,000.00)
(3,000,000.00)
ENDING BALANCE
7,740,046.45
3,818,027.78
3,000.00 35,336,571.72
1,250,000.00
16,500,031.51
64,647,677.46
74,186.89
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
657,648.75
CalPers
107,809.25
ICMA&HSA
38,783.08
Retirement Health Savings Withholdings
15,524.10
Flexible Spending Accounts
2,341.87
Postage
2,500.00
Bank and Merchant Fees
3,085.86
827,692.91
(3) The net adjustment was due to interfund transfers, void checks, and other deposit adjustment.
DECEMBER 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
DECEMBER 2016
Change In Cash Balance
BALANCE Ending Cash from Previous
CASH RAI_ANCFS RY Ft IND FORWARD DFRIT CREDIT CASH Balance Month -End
Unrestricted
GENERALFUND
12,751,449.18
4,035,934.06
3,722,108.20
13,065,275.04
313,825.86
2%
Restricted by Council Action
BEAUTIFICATION FUND
476,636.93
0.00
0.00
476,636.93
0.00
0%
CIP
29,268,598.53
1,303,800.00
2,480,589.78
28,091,808.75
(1,176,789.78)
4%
EQUIPMENT REPLACEMENT
2,935,125.13
0.00
35,749.92
2,899,375.21
(35,749.92)
1 %
BUILDING REPLACEMENT
0.67
0.00
0.00
0.67
0.00
0%
EMPLOYEE BENEFITS
(987,370.16)
1,803,321.51
899,477.00
(83,525.65)
903,844.51
92%
Subtotal
31,692,991.10
3,107,121.51
3,415,816.70
31,384,295.91
(308,695.19)
1%
Restricted by Law or External Agencies
STREET MAINTENANCE
1,350,835.39
70,551.75
262,535.62
1,158,851.52
(191,983.87)
14%
1972 ACT
13,696.51
.99,556.70
22,385.82
90,867.39
77,170.88
100%
EL PRADO
25,356.31
875.16
0.00
26,231.47
875.16
3%
CDBG
17,811.00
0.00
1,530.00
16,281.00
(1,530.00)
9%
CDBG-R
0.00
0.00
0.00
0.00
0.00
0%
1911 ACT
1,757,034.13
232,658.55
53,185.34
1,936,507.34
179,473.21
10%
SOLID WASTE
455,586.94
11,061.00
25,071.07
441,576.87
(14,010.07)
3%
AIR QUALITY MANAGEMENT
82,124.76
14,233.49
0.00
96,358.25
14,233.49
17
PROPOSITION C
557,054.53
61,886.43
16,830.00
602,110:96
45,056.43
8%
PROPOSITION A
397,722.18
673,758.93
0.00
1,071,481.11
673,758.93
100%
PUBLIC SAFETY GRANTS
89,880.44
20,365.16
25,000.00
85;245.60
(4,634.84)
5%
MEASURE R
1,831,925.06
45,755.34
0.00
1,877,680.40
45,755.34
2%
HABITAT RESTORATION
1,272,196.31
0.00
0.00
1,272,196.31
0.00
0%
SUBREGION 1 MAINTENANCE
778,493.46
0.00
1,297.99
777,195.47
(1,297.99)
0%
MEASURE A MAINTENANCE
17,404.69
0.00
22,500.00
(5,095.31)
(22,500.00)
100%
ABALONE COVE SEWER DISTRICT
91,820.36
73,979.30
3,102.96
162,696.70
70,876.34
777/.
RPVTV
0.00
0.00
0.00
0.00
0.00
0%
GINSBURG CULTURE ARTS BUILDING
85,849.62
0.00
0.00
85,849.62
0.00
0%
DONOR RESTRICTED CONTRIBUTIONS
880,259.07
1,500.00
0.00 1
881,759.07
1,500.00
0%
QUIMBY
2,423,204.08
0.00
0.00
2,423,204.08
0.00
0%
LOW -MODERATE INCOME HOUSING
96,904.42
0.00
0.00
96,904.42
0.00
0%
AFFORDABLE HSNG IN LIEU
590,201.36
0.00
0.00
590,201.36
0.00
0%
EET
255,442.35
33,180.00
0.00
288,622.35
33,180.00
13%
MEASURE A CAPITAL
7,440.11
0.00
0.00
7,440.11
0.00
0%
BIKEWAYS
0.00
0.00
0.00
0.00
0.00
0%
UNDERGROUND UTILITIES
0.00
0.00
0.00
0.00
0.00
0%
ROADWAY BEAUTIFICATION
0.00
0.00
0.00
1 0.00
0.00
0%
WATER QUALITY FLOOD PROTECTION
5,373,308.02
0.00
125,216.11
5,248,091.91
(125,216.11)
2%
REDEVELOPMENT OBLIGATION RETIRE
446,986.53
0.00
1,611.93
445,374.60
(1,611.93)
0%
IMPROVEMENT DISTRICT 9
0.00
0.00
0.00
0.00
0.00
0 71.
SPECIAL TRUSTS
512,821.56
55,506.48
47,854.13
520,473.91
7,652.35.
1%
Subtotal
19,411,359.19
1,394,868.29
608,120.97
20,198,106.51
786,747.32
4%
GRAND TOTAL
63,855,799.47
8,537,923.86
7,746,045.87
64,647,677.46
791,877.99
1%
Total Investment: 64,647, 677.46
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 2016
Issuerof 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
$
7,740,046
N/A
$
7,740,046
0.00%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,818,028
N/A
$
3,818,028
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
$
35,336,572
N/A
$
35,336,572
0.72
CDARS - Malaga Bank
Malaga Bank
12/20/2016
26 weeks
6/18/2017
250,000
$
250,000
0.30
Citizens National
Bank
3/24/2016
52 weeks
3/23/2017
$
243,500
$
243,500
0.25%
Ever Bank
3/24/2016
52 weeks
3/23/2017
$
230,633
$
230,633
0.25%
Flagstar Bank,
FSB
3/24/2016
52 weeks
3/23/2017
$
243,500
$
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
$
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
$
250,000
0.75
First Bank Puerto
Rico
4/29/2016
18 Mos
10/30/2017
$
250,000
$
250,000
0.80%
MB Financial
Bank
4/29/2016
30 Mos
10/29/2018
$
250,000
$
250,000
1.00%
United Bankers
Bank
5/2/2016
30 Mos
10/29/2018
$
250,000
$
250,000
1.00%
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
1.00%
Stander Bank
5/4/2016
12 Mos
5/4/2017
$
250,000
$
250,000
0.60%
TCF National
Bank
5/4/2016
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
1.25
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
0.70%
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
11/5/2018
$
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
5/11/2018
$
250,000
$
250,000
1.00%
Beal Bank USA
5/11/2016
12 Mos
5/10/2017
$
250,000
$
250,000
0.70%
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
0.65%
BMW Bank North
-- -
America-
5/27/2016
36 Mos
--5/28/2019
$
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
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
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
1.00%
Capstone Bank
6/15/2016
36 Mos
6/14/2019
$
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
39 Mos
9/17/2019
$
250,000
$
250,000
1.25%
Tab Bank Inc
7/1/2016
15 Mos
10/2/2017
$
250,000
$
250,000
0.80%
Luana Savings
Bank
7/8/2016
48 Mos
7/8/2020
$
250,000
$
250,000
1.15%
Wax Bank
7/8/2016
24 Mos
7/8/2018
$
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
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
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
$
250,000
$
250,000
0.70%
Caldwell Bank &
Trust Co.
8/19/2016
36 Mos
8/19/2019
$
250,000
$
250,000
1.00%
Live Oak
Banking
Company
8/19/2016
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
1.05%
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
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%
Benificial Bank
10/7/2016
48 Mos
10/7/2020
$
250,000
$
250,000
1.35%
Sallie Mae
Bank/Salt Lake
10/12/2016
36 Mos
10/15/2019
$
250,000
$
250,000
1.30%
Winona Natinal
Bank
10/13/2016
12 Mos
10/13/2017
$
250,000
$
250,000
0.75%
Capital One NA
10/13/2016
48 Mos
10/13/2020
$
250,000
$
250,000
1.40%
Bank of New
England NH
10/21/2016
36 Mas
10/21/2019
$
250,000
$
250,000
1.20%
Midland State
Bank
11/2/2016
24 Mos
11/2/2018
$
250,000
$
250,000
1.10%
Home
Savings&Loan
11/18/2016
12 Mas
11/17/2017
$
250,000
$
250,000
0.80%
American Bank
Center
11/10/2016
24 Mos
11/9/2018
$
250,000
$
250,000
1.10%
Preferred Bank
La California
11/9/2016
36 Mos
11/8/2019
$
250,000
$
250,000
1.15%
Partners Bank
California
11/18/2016
36 Mos
11/18/2019
$
250,000
$
250,000
1.10%
_.... _ Independent
Bk/Memphis
11/16/2016
37 Mos
12/16/2019
$
250,000
$
250,000
1.15%
Synchrony Bank
11/4/2016
60 Mos
11/4/2021
$
250,000
$
250,000
1.70%
Total Investment:
$
64,647,677
Total Investment Weighted Average Return
0.7%
2%
SUMMARY OF CASH BALANCE BY INSTITUTION
DECEMBER 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,
2
//
Treasurer
Dated
M,