CC SR 20170620 V - City April Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 06/20/2017
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the April 2017 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the April 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 ManagerVr10-
ATTACHED SUPPORTING DOCUMENTS: ✓"'�
A. Monthly Treasurer's Report (page A-1)
BACKGROUND AND DISCUSSION:
This report summarizes the cash balance of all funds and investments for the month of
April 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 $68,012,441.31, with more than $32.9
million or 48% of the balance in the Local Agency Investment Fund (LAIF). The City
has $8 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 $22.9 million or 34% 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 has over $16 million or 24% in cash balance, and
the Capital Improvement Projects (CIP) Fund has over $27.7 million or 41 % in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.7 million or 4%, over $2 million or 3% in the 1911 Act Fund, over $1.2 million or
2% in the Habitat Restoration Fund, over $2.4 million or 3% in the Quimby Fund, over
1
$4.8 or 7% million in the Water Quality Fund, and over $10.9 million or 16% in Other
Restricted Funds.
Overall, the City cash balance increased by over $2.3 million from last month, and in
comparison to the same period last year, the cash balance increased by over $1.6
million. The major variance is from cash activities in the Proposition A Fund. The City
received $1 million of Proposition A Funds per the Proposition A Exchange Agreement
with the City of Montebello dated January 25, 2017. Based on the agreement, the City
paid $750,000 from the unreserved general fund in February 2017 and in exchange, the
City received $1 million of Proposition A Funds. Other increases in cash balance
include reimbursements received from Community Development Block Grant and
Measure R Grant.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2017
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Bank
Malaga
75,380.61
ICMABHSA
30,335 95
Retirement Health Savings Withholdings
YTD INT
Flexible Spending Accounts
of the West
Bank
4,04608
INVESTMENT
INVESTMENT
OPERATING
OPERATING
PETTY CASH LAIF-CITY
WARS
CD
TOTAL CASH
RECEIVED
BEGINNING BALANCE
6,067,862.68
3,820,434.41
3,000 00 32,903,331 43
250,000.00
22,650,031 51
65,694,660.03
PLUS: DEPOSITS
5,201,755.22
5,201,75522
PLUS: INTERESTEARNINGS(1)
2,362..65
63,84959
66,21224
209,56547
LESS: CHECK DISBURSEMENTS
(2,136,35880)
(2,136,35880)
LESS: ELECTRONIC DISBURSEMENTS(2)
(584,086.25)
(584,086 25)
ADJUSTMENTS(3)
(229,741.13)
(229,741 13)
PLUS: TRANSFERS IN
250,000 00
250,000 00
LESS: TRANSFERS OUT
(250.000,00)
(250,000:D0)
ENDING BALANCE
8.069.431.72
3.82279706
3.000.00 32,967.181.02
250.000.00
22.900031.51
68.012,441,31
209.56547
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
463,821 41
CalPers
75,380.61
ICMABHSA
30,335 95
Retirement Health Savings Withholdings
10,264 90
Flexible Spending Accounts
237.30
Bank and Merchant Fees
4,04608
584, 086.25
(3) The net adjustment was due to void check, deposit adjustment, and system adjustment
APRIL 2017 CASH BALANCE BY MAJOR FUNDS
. GENERAL FUND
CIP
r 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
APRIL 2017
BALANCE
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH
Change In Change In
Ending Cash Ending Cash
Balance Ralance in %
Unrestricted _
GENERAL FUND
14,795,612.06
6,989,149.37
5,710,949.82
16,073,811.61
1,278,199.55
9%
Restricted by Council Action
BEAUTIFICATION FUND
477,425.13
496.39
0.00
477.921.52
49639
0%
CIP
27.800.494.54
155.31019
198.897,98
27.756.906 75
(43.58779)
0%
EQUIPMENT REPLACEMENT
2,730.153.94
2.871.43
30.472.84
2,702.552.53
(27,601.41)
-1%
BUILDING REPLACEMENT
0.76
0.00
0.00
0.76
000
0%
EMPLOYEE BENEFITS_
305,589.95
9,772.84
28,010.14
287,352.65
(18,237.30)
-6%
Subtotal
31,313,664.32
168,450.85
257,380.96
31,224,734 21
(88.930.11)
0%
Restricted by Law or External Agencies
STREET MAINTENANCE
812.077.67
4,897.52
200,723 63
616.251 56
(195,826 11)
-24%
1972 ACT
74.069.29
59.609.35
23,297.56
110,381.08
36,311 79
49%
EL PRADO
26,658.99
676.40
0.00
27,335 39
676.40
3%
CDBG
(92.004.50)
115,100.00
6,215.00
16,880.50
108,885.00
118%
CDBG-R
0.00
0.00.
000
0.00
0.00
0%
1911 ACT
1,908,114.64
173,250.49
26.616.06
2,054.749.07
146.634.43
8%
SOLID WASTE
470,753.18
5.409.37
26.068.74
450.093.81
(20,659 37)
-4%
AIR QUALITY MANAGEMENT
83,979.64
87.33
0.00
84,066.97
8733
0%
PROPOSITION C
729,869.36
41.140.75
5,936.00
765,074,11
35,204 75
_
5%
PROPOSITION A
1,043,106.57
1,049,794.07
427.57
2.092.473,07
1.049.366.50
101%
PUBLIC SAFETY GRANTS
96,424.75
112.66
000
96,53241
11266
0%
MEASURE R
2,005,640.47
32.351.86
0.00
2.037,992.33
32,351 86
2%
HABITAT RESTORATION
1,248,180.38
1.31751
43,850.00
1.205.647.89
(42 532.49)
-3%
SUBREGION 1 MAINTENANCE
766,623.60
798.19
731.94
766,689.85
66.25
0%
MEASURE A MAINTENANCE
19,680.03
3606
000
19.716 09
3606
0%
ABALONE COVE SEWER DISTRICT
146,071.13
8.86765
17229.83
137,708.95
(8.3.62.18)
-6%
RPVTV
0.00
000
000
0.00
000
0%
GINSBURG CULTURE ARTS BUILDING
85.991.36
8941
000
86,080..77
89.41
0%
DONOR RESTRICTED CONTRIBUTION
881,977.06
916.75
520,43
882,373.38
396.32
0%
QUIMBY
2,427,190.88
2,523.59
0.00
2,429,714.47
2.523.59
06/
LOW -MODERATE INCOME HOUSING
120,723.77
12554
0.00
120,8_49.31
125.54
0%
AFFORDABLE HSNG IN LIEU
591,175 79
614.65
0.00
591.790.44
61465
0%
EET
293,72158
305.09
75.00
293,951.67
230.09
0%
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
000
0.00
0%
ROADWAY BEAUTIFICATION
0.00
0.00
000
0.00
0.00
07.
WATER QUALITY FLOOD PROTECTIOt
4,906,157.15
5,221.10
26,559.26
4,884.818.99
(21.338.16)
0%
REDEVELOPMENT OBLIGATION RETIF
419,562.51
438.09
000
420.000.60
438.09
0%
IMPROVEMENT DISTRICT 9
000
000
000
0.00
0.00
0%'
SPECIAL TRUSTS
512,19824
17,981.50
14.902.07
515,277.67
3,079.43
1%
Subtotal
19,585,363.65
1.521.664.93
393,153.09
20,713,895.49
1,128,511.84
6%
GRAND TOTAL
65,694,660.03
8,679.265.15
6.361.483.87
68.012.441.31
2,317,78128
4%
Total Investment: 68, 012, 441 31
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 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
$
8,069,432
N/A
$
8,069,432
0.00%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,822,797
N/A
$
3,822,797
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
N/A
On Demand
$
32,967,181
N/A
$
32,967,181
0.88%
CDARS - Malaga Bank
Malaga Bank
12/20/2016
26 weeks
6/18/2017
250,000
$
250,000
0.30%
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
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
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
11/6/2017
$
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
5
250,000
1.00%
Beal Bank USA
5/11/2016
12 Mos
5/10/2017
$
250,000
3
250,000
070%
Bank of India NY
5/12/2016
12 Mos
5/10/2017
$
250,000
S
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
S
250,000
0.90%
Community Bank
Chesapeake
6/8/2016
18 Mos
12/8/2017
$
250,000
$
250,000
085%
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
100%
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
1.20%
Discover Bank
6/8/2016
36 Mos
6/10/2019
$
250,000
$
250,000
1.15%
A-3
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 Finl
SVCS Bank
7/12/2016
36 Mos
7/12/2019
$
250,000
S
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 Mos
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
SavingsBLoan
11/18/2016
12 Mos
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
170%
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
S
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
S
250,000
0.90%
Greenfield
Savings Bank
1/20/2017
12 Mos
1/19/2018
$
250,000
S
250,000
0.90%
Gorham Savings
Bank ME
1/25/2017
12 Mos
1/25/2018
$
250,000
$
250,000
0.90%
Atlantic
Stewardship BK
1/13/2017
24 Mos
1/14/2019
$
250,000
$
250,000
1.40%
Flushing Bank
1/13/2017
24 Mos
1/14/2019
$
250,000
$
250,000
1.40%
MA
First National
Bank Paragould
1/18/2017
24 Mos
1/18/2019
$
250,000
$
250,000
135%
Little Bank
1/25/2017
24 Mos
1/25/2019
$
250,000
$
250,000
1.35%
Steams 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
$
250,000
1.70%
Lakeside Bank
1/13/2017
42 Mos
7/13/2020
$
250,000
$
250,000
1.95%
FannersBMercha
nts BK NEB
1/18/2017
60 Mos
1/18/2022
$
250,000
S
250,000
2-05%
Peoples United
Bank
1/18/2017
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
S
250,000
$
250,000
105%
Wood America
Bank
1/13/2017
24 Mos
1/14/2019
S
250,000
$
250,000
1.35%
Union Bank and
Trust/OX
1/20/2017
30 Mos
7/22/2019
$
250,000
$
250,000
145%
World Foremost
Bank
1/21/2017
36 Mos
1/21/2020
$
200,000
$
200,000
175%
First National
Bank of America
1/20/2017
60 Mos
1/20/2022
$
250,000
$
250,000
2.00%
East Boston
Savings Bank
1/20/2017
60 Mos
1/20/2022
$
250,000
$
250,000
2.00%
Henry County
Bank OH
1/27/2017
60 Mos
1/27/2022
$
250,000
$
250,000
1.90%
JP MORGAN
CHASE BANK
2/15/2017
60 Mos
2/15/2022
$
200,000
$
200,000
2.30%
HSBC Bank USA
3/21/2017
60 Mos
3/21/2022
$
250,000
$
250,000
2.45%
American
Express
Centurion
1/4/1900
60 Mos
4/5/2022
$
250,000
$
250,000
2.45%
Total Investment: $ 68,012,441
Total Investment Weighted Average Return 08%
MR
SUMMARY OF CASH BALANCE BY INSTITUTION
APRIL 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
Resp by submitted.
I
rer flat
M