CC SR 20170307 D - City Cash Balances Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 03/07/2017
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the January 2017 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the January 2017 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 January 2017. 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 $66,854,317, with more than $32.9 million
or 49% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $6.6 million or 10% 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 $22.2 million or 33% of total cash balance, in which the City
purchased 23 new Certificates of Deposit in January. 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 increased by $2.2 million from last
month, and in comparison to the same period last year, the cash balance increased by
$3.6 million.
1
The major variance as compared to last year is timing disbursements in Capital
Improvement Program (CIP) Fund. The major disbursements included VSS
International, Hardy & Harper, Pro Tech Engineering, and Sunbeam Consulting for the
residential street rehabilitation project.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JANUARY 2017
(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
7,740,046 45
3,818,027 78
3,000 00 35,336,571 72
1,250,000 00
16,500,031 51
64,647,877 46
5,289,68
PLUS: DEPOSITS
5,344,614 38
5,344,614 38
PLUS: INTEREST EARNINGS(1)
2,40663
66,759 71
69,166 34
143,353 23
LESS: CHECK DISBURSEMENTS
(2,651,537 96)
(2,651,537 96)
LESS: ELECTRONIC DISBURSEMENTS(2)
(554,864 72)
(554,864 72)
ADJUSTMENTS(3)
(738 68)
(738 68)
PLUS: TRANSFERS IN
2,500,000 00
5,700,000 00
8,200,000 00
LESS: TRANSFERS OUT
(5.700.00000)
(2,500,000.00)
(8.200.00000)
ENDING BALANCE
6,677,519.47
3,820,434.41
3,000.00 32,903.33143
1,250,000,00
22200,03151
66,854,31682
143,35323
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
431,910 97
CalPers
73,084 95
ICMABHSA
28,399 64
Retirement Health Savings Withholdings
10,272 64
Sales Taxes
2,82500
Flexible Spending Accounts
581.84
Postage
2,50000
Bank and Merchant Fees
5,289,68
554,864 72
(3) The net adjustment was due to return items and other deposit adjustment
JANUARY 2017 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
JANUARY 2017
Change In Cash Balance
BALANCE Ending Cash from Previous
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH Balance Month -End
Unrestricted
GENERAL FUND
13,065,27504
4,681,272.96
1,562,206.60
16.384,341.40
3,319,086.38
25%
Restricted by Council Action
BEAUTIFICATION FUND
476,63693
51372
000
477,15065
513.72
0%
CIP
28,091,808 75
30,987 20
987.925 46
27,134.870 49
(956-938 26)
3%
EQUIPMENT REPLACEMENT
2,899,_375 21
_ 3.15447
26,673.74
2,875,855.94
(23,519.27)
1%
BUILDING REPLACEMENT
067
0.00
000
067
000
0%
EMPLOYEE BENEFITS
(83.525 65)
496,760 74
628.219 97 1
(214.984 88)
(131.459 23)
100%
Subtotal
31,384,29591
531,41613
1.642,619171
30,272,892,87
(1,111,403.04)
4%
Restricted by Law or External Agencies
STREET MAINTENANCE
1,15Q851 52
58,798.82
245,203 39
972,446 95
(186,404.57)
16%
1972 ACT
90.867 39
25,92799
18.589.48
98.,205.90
7.338.51
6%
EL PRADO
26.231 47
264.55 _
000
26,496.02
264.55
1%
CDBG
16,281 00
10,145 00
4 207 00
22,219 00
5,93800
36
CDBG-R
000
000
000
000
000
0%
1911 ACT
1,936,507 34
64,389 70
30,303 37
1.970.593 67
34,086.33 1
2%
SOLID WASTE
441,576 87
40,211 51
15.246 46
466.541 92
24.965 05
6%
AIR QUALITY MANAGEMENT
96,358 25
9363
000
96,451 88
93.63
0%
PROPOSITION C
602,110 96
47.146.10
000
649,257 06
47,146 10
8
PROPOSITIONA
1,071,48111
55,81835
000
1,127,29946
55.816.35
5%
PUBLIC SAFETY GRANTS
85,245 60
21,892 97
000
107,138 57
21,892.97
26%
MEASURER
1,877,68040
36,30516
000
1,913,98556
36,30516
2%
HABITAT RESTORATION
1,272,196.31
67,400.53
35,12500
1,304,471 84
32,27553
3%
SUBREGION I MAINTENANCE
777,19547
839.62
9.06967
768,965.42
(8,23005)
1%
MEASURE A MAINTENANCE
(5,095 31)
47.265 75
000
42,170 44
47.265 75
_ 100%
ABALONE COVE SEWER DISTRICT
162,696 70
5.62201
24,817 19
143,501 52
(_19,195.18}
12%.
RPVTV
000
0.00
000
000
000
0%
GINSBURG CULTURE ARTS BUILDING
85,649 62
9253
000
85,942 15
9253
0%
DONOR RESTRICTED CONTRIBUTIONS
881,759 07
94925
1,61877
881,089 55
(669,52)
0%
QUIMBY
2,423,204 08
2,605.65
0.00
2,425,809 73
2,605.65
0%
LOW -MODERATE INCOME HOUSING
96,904 42
23,764 30
000
120,668 72
23.764 30
25%
AFFORDABLE HSNG IN LIEU
590,201 36
636.12
000
590,837 48
636.12
0%.
EET
288,622 35
4,073.24
000
292.695 59
4,073.24
1%
MEASURE A CAPITAL
7.44011
000
000
7,44011
000
F./.-
%BIKEWAYS
BIKEWAYS
000
0..00
_0.00
000
0.00
0%
UNDERGROUND UTILITIES
000
0.00
000
000
0.00
0%
ROADWAY BEAUTIFICATION
000
000
000
0_00
0.00
0%
WATER QUALITY FLOOD PROTECTION
5,248,091 91
5,77069
80.969.00
5.172,893 60
(75.198 31)
1%
REDEVELOPMENT OBLIGATION RETIRE
445,374 60
17,316 17
37,972 95
424,717 82
(20,656.78)
5%
IMPROVEMENT DISTRICT 9
000
000
000
000
000
0%
SPECIAL TRUSTS
520,473 91
7,354 98
42,586 30
485,242 59
{35.231.32)
7%
Subtotal
20,198,106.51
544,684.62
545,708.58
20,1F B2.551023.96)
0%
GRAND TOTAL
64,647,677.46
5,957,373.71
3,750,734.35
65,654,316.82
2,206,639:36
3%
Total Investment: 66,854,316 82
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JANUARY 2017
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
$
6,677,519
N/A
$
6,677,519
000%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,820,434
N/A
$
3,820,434
025%
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
$
3,000
000%
Stale of
Local Agency Investment Fund (LAIF-CITY) California
N/A
N/A
On Demand
$
32,903,331
N/A
$
32,903,331
0 75 %
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
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
0.25%
Parke Bank
3/24/2016
52 weeks
3/2 312 01 7
$
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
16 Mos
10/30/2017
$
250,000
$
250,000
0.80%
MB Financial
Bank
4/29/2016
30 Mos
1 0/2 912 01 8
$
250,000
$
250,000
1 00 %
United Bankers
Bank
5/2/2016
30 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
100%
Slander 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
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
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
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
5
250,000
1.00%
Key Bank
5/11/2016
24 Mos
5/11/2018
$
250,000
5
250,000
100%
Beal Bank USA
5/11/2016
12 Mos
5/10/2017
$
250,000
5
250,000
0 70 %
Bank of India NY
5/12/2016
12 Mos
5/10/2017
$
250,000
5
250,000
070%
Cit Bank NA
5/31/2016
12 Mos
5/31/2017
$
250,000
5
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
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
090%
Community Bank
Chesapeake
6/6/2016
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
085%
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
5
250,000
$
250,000
1 20%
Capital Bank
Lithe Rock
6/22/2016
39 Mos
9/23/2019
S
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
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
7/8/2018
$
250,000
$
250,000
095%
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
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
090%
Carroll County
State Bank Iowa
8/12/2016
36 Mos
8/12/2019
S
250,000
$
250,000
1 00 %
Everbank/
Jacksonville FL
8/12/2016
36 Mos
8/12/2019
5
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 Cc
8/19/2016
36 Mos
8/19/2019
$
250,000
$
250,000
100%
Live Oak
Banking
Company
8/19/2016
48 Mos
8/19/2020
S
250,000
$
250,000
125%
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
9/8/2017
$
250,000
$
250,000
085%
Gold Coast
Bank/Chicago
9/9/2016
45 Mos
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
110%
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 Mos
10/21/2019
$
250,000
$
250,000
120%
Midland State
Bank
11/2/2016
24 Mos
11/2/2018
$
250,000
$
250,000
110%
Home
Savings&Loan
11/18/2016
12 Mos
11/17/2017
$
250,000
$
250,000
080%
American Bank
Center
11/10/2016
24 Mos
11/9/2018
$
250,000
$
250,000
110%
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
110%
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%
Banc of
California
1/13/2017
12 Mos
1/12/2018
$
250,000
$
250,000
100%
Mbank of
Manistique MI
1/17/2017
12 Mos
1/17/2018
$
250,000
$
250,000
1 00%
First Federal
Bank of Dunn NC
1/20/2017
12 Mos
1/19/2018
$
250,000
$
250,000
090%
Peoples
Bank/Magnolia
AR
1/20/2017
12 Mos
1/19/2018
$
250,000
$
250,000
090%
WE
Greenfield
Savings Bank
1/20/2017
12 Mos
1/19/2018
$
250,000
$
250,000
090%
Gorham Savings
Bank ME
1/25/2017
12 Mos
1/25/2018
$
250,000
$
250,000
090%
Atlantic
Stewardship BK
1/13/2017
24 Mos
1/14/2019
$
250,000
S
250,000
140%
Flushing Bank
1/13/2017
24 Mos
1/14/2019
$
250,000
5
250,000
1 40%
First National
Bank Paragould
1/18/2017
24 Mos
1/18/2019
$
250,000
$
250,000
1 35%
Little Bank
1/25/2017
24 Mos
1/25/2019
$
250,000
$
250,000
1 35%
Stearns Bank NA
1/13/2017
36 Mos
1/13/2020
$
250,000
$
250,000
1 60%
Whitney
Bank/MS
1/25/2017
36 Mos
1/27/2020
$
250,000
S
250,000
170%
Lakeside Bank
1/13/2017
42 Mos
7/13/2020
$
250,000
$
250,000
1 95%
Farmers&Mercha
nls BK NEB
1/16/2017
60 Mos
1/18/2022
$
250,000
$
250,000
205%
Peoples United
Bank
1/16/2017
60 Mos
1/18/2022
S
250,000
$
250,000
2 05 %
DMB Community
Bank
1/13/2017
15 Mos
4/13/2018
S
250,000
$
250,000
1 00 %
Patriot Federal
Bank
1/20/2017
18 Mos
7/20/2018
$
250,000
$
250,000
1 05 %
Wood America
Bank
1/13/2017
24 Mos
1/14/2019
$
250,000
$
250,000
135%
Union Bank and
Trust/OX
1/20/2017
30 Mos
7/22/2019
S
250,000
$
250,000
145%
World Foremost
Bank
1/21/2017
36 Mos
1/21/2020
S
200,000
$
200,000
175%
First National
Bank of America
1/20/2017
60 Mos
1/20/2022
S
250,000
$
250,000
200%
East Boston
Savings Bank
1/20/2017
60 Mos
1/20/2022
$
250,000
$
250,000
200%
Henry County
Bank OH
1/27/2017
60 Mos
1/27/2022
$
250,000
$
250,000
1 90%
Total Investment: $ 66,654,317
Total Investment Weighted Average Return 08%
WR
SUMMARY OF CASH BALANCE BY INSTITUTION
JANUARY 2017
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,
&&�A&L QUO—. 12,ell 7-
easurer I Doled
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