CC SR 20171003 E - City August Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 10/03/2017
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the August 2017 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the August 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'/ -",,.,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 and investments for the month of
August 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 $66,390,075, with more than $36 million or
54% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $2.8 million or 4% 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 $23.4 million or 35% 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 $14 million or 21 % in cash balance, and
the Capital Improvement Projects (CIP) Fund has over $28 million or 43% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.4 million or 4%, over $2 million or 3% in the 1911 Act Fund, over $1.1 million or
2% in the Habitat Restoration Fund, over $2.3 million or 4% in the Quimby Fund, over
1
$4.4 or 7% million in the Water Quality Fund, and over $10.8 million or 16% in Other
Restricted Funds.
The City cash balance decreased by almost $0.5 million from last month, and in
comparison to the same period last year, the cash balance decreased by $153,000.
The major variance as compared to last month is disbursements from General Fund
and Water Quality Flood Protection Fund. In accordance with the City budget, City's
projects are mainly funded by General Fund and Water Quality Flood Protection Fund.
The variance is mainly due to the timing of the invoice processing. G. B. Cooke, Inc.,
Southwest Pipeline Trenchless Corporation, and Los Angeles County Sheriff are just a
few of the City's largest contractors that submitted invoices.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 2017
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Bank
Malaga
73, 380.41
ICMABHSA
30,292.54
YTD INT
9,905.94
of the West
Bank
INVESTMENT
INVESTMENT
566,28322
OPERATING
OPERATING PETTY CASH
IAUF-CITY CDARS
CD
TOTAL CASH
RECEIVED
BEGINNING BALANCE
3,801,569.45
3.825,180.50 3,000.00
36,043,783.09 250,000.00
23,150,031.51
66,873,564.55
PLUS: DEPOSITS
2,882,492.43
2,862,492.43
PLUS: INTERESTEARNINGS(1)
0.00
78,985.51
LESS- CHECK DISBURSEMENTS
(2,781,584.90)
(2,781,584.90)
LESS: ELECTRONIC DISBURSEMENTS(2)
(566,283.22)
(566,283.22)
ADJUSTMENTS(3)
(18,113.92)
(16,113.92)
PLUS: TRANSFERS IN
250,000.00
250,000.00
LESS TRANSFERS OUT
(250,000.00)
(250,000 00)
ENDING BALANCE
2,868,079 84
3,825,180.50 3,000.00
36,043,783 09 250,000.00
23,400,031 51
66,390,074 94
78,985.51
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
446,367.58
CalPefs
73, 380.41
ICMABHSA
30,292.54
Retirement Health Savings Withholdings
9,905.94
Flexible Spending Accounts
1,798.39
Bank and Merchant Fees
4,538.36
566,28322
(3) The net adjustment was due to void Checks, deposit adjustment, and a non -sufficient check.
AUGUST 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
CASH BALANCES BY FUND
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 2017
Change In Change In
BALANCE Ending Cash Ending Cash
FORWARD DEBIT CREDIT CASH Balance Balance in %
Unrestricted
GENERAL FUND
14,779,313.12
1,194,313.85
1,714,824.12
14,258,802.85
520,510.27
-4%
Restricted by Council Action
BEAUTIFICATION FUND
478,475.03
0.00
0.00
478,475.03
0.00
0%
CIP
28,574,234.53
491,490.06
298.953 10
28,766,771.49
192,536.96
1%
EQUIPMENT REPLACEMENT
2,471,796.86
0.00
6,704,06
2,465,092 80
(6,704.06)
0%
BUILDING REPLACEMENT
0.76
0.00
0.00
0.76
0.00
0%
EMPLOYEE BENEFITS
324,743.70
0.00
0.00
324,743.70
0.00
0%
Subtotal
31,849,250.88
491,490.06
305,657.16
32,035,083.78
185,832.90
1%
Restricted by Law or External Agencies
STREET MAINTENANCE
329,858.49
158,288.07
197,737.15
290,409.41
39,449.08
-12%
1972 ACT
30,052.66
1,176.14
3,905.44
27,323.36
2,729.30
-9%
EL PRADO
27,578.61
93.79
86.88
27,585.52
6.91
0%
CDBG
7,805.60
0.00
0.00
7,805.60
0.00
0%
CDBG-R
0.00
0.00
0.00
0.00
0.00
0%
1911 ACT
2,041,754.63
24,699.79
27,430.93
2,039,023.49
2,731.14)
07/.
SOLID WASTE
448,217.60
14,683.05
15,091.37
447,809.28
408.32)
0%
AIR QUALITY MANAGEMENT
70,172.28
13,971.63
0.00
84,143.91
13,971.63
20%
PROPOSITION C
464,181.66
57,834.75
9,905.79
512,110.62
47,928.96
10%
PROPOSITION A
2,276,391.02
69,725.34
21,841.26
2,324,275.10
47,884.08
2%
PUBLIC SAFETY GRANTS
71,649.22
0.00
0.00
71,649.22
0.00
0%
MEASURE R
2,159,785.93
43,511.33
0.00
2,203,297.26
43,511 33
2%
HABITAT RESTORATION
1,170,969.24
6,153.00
0.00
1,177,12224
6,153.00
1%
SUBREGION 1 MAINTENANCE
759,710.22
0.00
5,520.56
754,189.65
5,520.56
-1%
MEASURE A MAINTENANCE
95,508.74
0.00
0.00
95,508.74
0.00
0%
ABALONE COVE SEWER DISTRICT
172,970.10
0.00
26,549.39
146,420.71
(26,549.39)
-15%
RPVTV
0.00
0.00
0.00
0.00
0.00
0%
GINSBURG CULTURE ARTS BUILDING
86,180.47
0.00
0.00
86.180.47
0.00
0%
DONOR RESTRICTED CONTRIBUTION
883,803.55
1,500.00
0.00
885,303.55
1,500.00
0%
QUIMBY
2,363,828.50
0.00
11,850.00
2,351.978.50
(11,850.00)
-1%
LOW -MODERATE INCOME HOUSING
140,604.16
000
0.00
140,604.16
0.00
0%
AFFORDABLE HSNG IN LIEU
592,475.84
0.00
0.00
592,475.84
0.00
0%
EET
331,293.96
0.00
0.00
331,293.96
0.00
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
0.00
0.00
0%
ROADWAY BEAUTIFICATION
0.00
0.00
0.00
0.00
0,00
0%
WATER QUALITY FLOOD PROTECTIO1
4,760,675.78
3,928.37
266,343.17
4,498,260.98
262,414.80
-6%
REDEVELOPMENT OBLIGATION RETIF
446,450.69
0.00
330.00
446,120.69
330.00
0%
IMPROVEMENT DISTRICT 9
0.00
0.00
0.00
0.00
0.00
0%
SPECIAL TRUSTS
521,252.69
72,907.19
30,692.75
563,467.13
42,214.44
8%
Subtotai
20,245,000.55
466,472.45
617,284.69
20,096,188.31
148,812.24
1%
GRAND TOTAL 1
66,873,564.55 1
2,154,276.36
2,637,765.97
66,390,074.94
483,489.61
-1%
Totallnvestment 66,390,074.94
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 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
$
2,868 080
N/A
$
2,868.080
0.00%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3.825,181
N/A
$
3,825,181
0.25%
Petty Cash
N/A
N/A
N/A
On Demand
$
3,000
N/A
$
3,000
0.00%
Local Agency Investment Fund (LAIF-CITY)
State of California
N/A
N/A
On Demand
$
36,043,783
N/A
$
36,043,783
1.06%
CDARS - Malaga Bank
Malaga Bank
6/18/2017
26 weeks
12/19/2017
250,000
$
250,000
0.85%
CD - Bank of New York (Vinking Sparks)
Citizens Sate Bank
4/29/2016
18 Mos
1 013 012 01 7
$
250,000
$
250,000
0.75%
First Bank Puerto
Rico
4/29/2016
18 Mos
1 0/3 01201 7
$
250,000
$
250,000
0.60%
MB Financial Bank
4/29/2016
30 Mos
1012912018
$
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
1.20%
Medallion Bank Utah
5/3/2016
30 Mos
11/5/2018
$
250,000
$
250,000
1.00%
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
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
070%
Investors Bank/Short
Hills
5/5/2016
24 Mos
5/412018
$
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!712018
$
250,000
$
250.000
1.00%
Key Bank
5/1112016
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
513112017
$
250,000
$
250,000
065%
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
065%
Pacific Premier Bank
6/3/2016
18 Mos
1215/2017
$
250,000
$
250,000
D.90%
Community Bank
Chesapeake
6/8/2016
18 Mos
12/812017
$
250,000
$
250,000
0.85%
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
6/1112018
$
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 Mas
6/14/2019
$
250,000
$
250,000
1.20%
Capital Bank Little
Rock
6/22/2016
39 Mos
9/2312019
$
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
6/1412019
$
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
711/2016
15 Mos
10/2/2017
$
250,000
$
250,000
0.80%
Luana Savings Bank
7/812016
48 Mos
71812020
$
250,000
$
250,000
1.15%
Wax Bank
7/8/2016
24 Mos
718/2018
$
250,000
$
250,000
0.95%
Communiy FIN
SVCS Bank
7112/2016
36 Mos
7/1212019
$
250,000
$
250,000
105%
A-3
First Western Bank
7/15/2016
36 Mos
7/1512019
$
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
8/1212016
36 Mos
8/12/2019
$
250,000
$
250,000
1.00%
Everbank/
Jacksonville FL
8112/2016
36 Mos
8/12/2019
$
250,000
$
250,000
1.15%
Freedom Bank of
Virginia
8/17/2016
12 Mos
8116/2017
$
250.000
$
250,000
0.70%
Caldwell Bank 8
Trust Co.
8/19/2016
36 Mos
6/19/2019
$
250,000
$
250,000
100%
Live Oak Banking
Company
8/19/2016
48 Mos
8119/2020
$
250,000
$
250,000
1.25%
Capital Bank Corp
8/31/2016
24 Mos
8131/2018
$
250,000
$
250,000
1.05%
Isabella Bank
9(712016
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
110%
Benificial Bank
1077/2016
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
130%
Winona Natinal
Bank
1011312016
12 Mos
10/13/2017
$
250,000
$
250.000
0.75%
Capital One NA
10113/2016
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
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
1.70%
Banc of California
1/13/2017
12 Mos
1/12/2018
$
250,000
$
250,000
1.00%
Mbank of Manistique
MI
1/17/2017
12 Mos
111712018
$
250,000
$
250,000
1.00%
First Federal Bank of
Dunn NC
1/20/2017
12 Mos
1/19/2018
$
250,000
$
250.000
0.90%
Peoples
Bank/Magnolia AR
1/20/2017
12 Mos
1/19/2018
$
250.000
$
250,000
090%
Greenfield Savings
Bank
1/20/2017
12 Mos
1/19/2018
$
250,000
$
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
1/132017
24 Mos
1114/2019
$
250,000
$
250,000
140%
First National Bank
Paragould
1/18/2017
24 Mos
1/18/2019
$
250,000
$
250,000
1.35%
Little Bank
1125/2017
24 Mos
125/2019
$
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
125/2017
36 Mos
127/2020
$
250,000
$
250,000
1.70%
Lakeside Bank
1/13/2017
42 Mos
7/13/2020
$
250,000
$
250,000
1.95%
FarmersBMerchants
BK NES
1118/2017
60 Mos
1/18/2022
$
250,000
$
250,000
2.05%
Peoples United Bank
1/182017
60 Mos
1/18/2022
$
250,000
$
250,000
2.05%
DMB Community
Bank
1/13/2017
15 Mos
4/13/2018
$
250,000
$
250,000
1.00%
Patriot Federal Bank
1/202017
18 Mos
7/20/2018
$
250,000
$
250,000
1.05%
Woori America Bank
1/1312017
24 Mos
1/14/2019
$
250,000
$
250,000
1.35%
Union Bank and
Trust/OX
1/20/2017
30 Mos
7/22/2019
$
250,000
$
250,000
1.45%
World Foremost
Bank
121/2017
36 Mos
1/21/202D
$
200,000
$
200,000
1.75%
First National Bank
of America
1/20/2017
60 Mos
1 /2 012 02 2
$
250,000
$
250,000
2.00%
WE
East Boston Savings
Bank
1/202017
60 Mos
1/2012022
$
250,000
$
250,000
2.00%
Henry County Bank
OH
1272017
60 Mos
1272022
$
250,000
$
250,000
1.90%
JP MORGAN
CHASE BANK
2/152017
50 Mos
2/152022
$
200,000
$
200,000
230%
HSBC Bank USA
3212017
60 Mos
3212022
$
250,000
$
250,000
2.45%
American Express
Centurion
3/212017
50 Mos
4/52022
$
250,000
$
250,000
2.45%
State Bank of India
6802017
24 Mos
7112019
$
250,000
$
250,000
1.75%
Suntrust Bank
8292017
60 Mos
8292022
$
250,000
$
250,000
1.80%
Total Investment:
$
66,390,075
Total
Investment Weighted Average Return
1.0%
SUMMARY OF CASH BALANCE BY INSTITUTION
AUGUST 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 Wok value.
• Bank of the West
■ Malaga Bank
• State of California - LAIF
54% • Malaga Bank - CDARS
■ Vining Sparks/Bank of New York - CD
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
f o r 'D . G4,1lfn
A-5