CC SR 20171108 D - City September Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 11/08/2017
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the September 2017 Cash
Balances/Monthly Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the September 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
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 and investments for the month of
September 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 $64,936,271, with more than $33 million or
51 % of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $4.4 million or 7% 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 36% 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 $12 million or 19% in cash balance, and
the Capital Improvement Projects (CIP) Fund has over $29 million or 45% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.4 million or 4%, over $1.9 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
$4.1 or 6% million in the Water Quality Fund, and over $11 million or 17% in Other
Restricted Funds.
The City's cash balance decreased by almost $1.4 million from last month, and in
comparison to the same period last year, the cash balance decreased by $198,000.
The major variance includes disbursements from General Fund, Capital Improvement
Fund, and Water Quality Flood Protection Fund. The disbursements were paid to Sully -
Miller Contracting Company, California Landscape & Design, Palp Inc., and the Los
Angeles County Sheriff's Departments. Finally, the decreases in cash from other funds
were due to the quarterly inter -fund transfers in accordance with the FY17-18 budget.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 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
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
3,404.21
PLUS: DEPOSITS
1,853,002.37
1,853,00237
PLUS: INTERESTEARNINGS(1)
000
76,98551
LESS: CHECK DISBURSEMENTS
(2,679,002 14)
(2,679,002 14)
LESS: ELECTRONIC DISBURSEMENTS(2)
(565,82901)
(565,82901)
ADJUSTMENTS(3)
(61,975 35)
(61,975 35)
PLUS: TRANSFERS IN
3,000,000 00
3,000,000 00
LESS: TRANSFERS OUT
(3,000,000.00)
(3.000,000.00)
ENDING BALANCE
4,414,275.71
3,825,180.50 3,000.00
33,043.783.09
250.000.00
23,400,031.51
64,936,270.81
78,985.51
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
444,407 34
CalPers
72,214 22
ICMA&HSA
30,972 54
Retirement Health Savings Withholdings
9.91980
Flexible Spending Accounts
1,36090
GASB 68 Report
1,05000
Postage
2,500.00
Bank and Merchant Fees
3,404.21
565,829.01
(3) The net adjustment was due to void checks, deposit adjustment, and a non -sufficient check
SEPTEMBER 2017 CASH BALANCE BY MAJOR FUNDS
■ GENERAL FUND
■ CIP
■ EQUIPMENT REPLACEMENT
1911 ACT
HABITAT RESTORATION
QUIMBY
WATER QUALITY FLOOD
PROTECTION
e OTHER RESTRICTED FUNDS
A-1
CASH BALANCES BY FUND
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2017
Change In Change In
BALANCE Ending Cash Ending Cash
FORWARD DEBIT CREDIT CASH Balance Balance In %
Unrestricted
GENERAL FUND
14,258,802.85
3,176,364.78
5,011,294,64
12,423,662.99
1,834,939.88
-13%
Restricted by Council Action
BEAUTIFICATION FUND
478,475.03
0.00
0.00
478,475.03
0.00
0%
CIP
28,766,771.49
1,166.529.37
624,537.45
29,328,763.41
561,991.92
2%
EQUIPMENT REPLACEMENT
2,465,092.80
0.00
16,704.85
2,448,387.95
16,704,85
-1%
BUILDING REPLACEMENT
0.76
0.00
0.00
0.76
0.00
0%
EMPLOYEE BENEFITS
324,743.70
0.00
0.00
324743.70
0.00
0%
Subtotal
32,035,083 78
1,186,529.37
641,242.30
32,580.370.85
545,287.07
2%
Restricted by Law or Extemai Agencies
STREET MAINTENANCE
290,409.41
864.95
46,985.90
244,288,46
46.120.95
-16%
1972 ACT
27,323.36
0.00
0.00
27,323.36
0.00
0%
EL PRADO
27.585.52
0.00
0.00
27,585.52
0.00
0%
CDBG
7,80.5.60)
34,382.00
5,295.00
21,281.40
29,087.00
100%
CDBG-R
0.00
0.00
0.00
0.00
0.00
0%
1911 ACT
2,039,023.49
0.00
_ 47,154.92
1,991.868,57
(47,154.92)
-2%
SOLID WASTE
447,809.28
0.00
24,013.66
423,795.62
24,013.66
-5%
AIR QUALITY MANAGEMENT
84.143.91
0.00
0.00
84,143.91
0.00
0%
PROPOSITION C
512,110.62
67,164.28
0.00
579,274.90
67,164.28
13%
PROPOSITION A
2.324,275.10
80,949.95
39,715.99
2,365,509.06
41,233.96
2%
PUBLIC SAFETY GRANTS
71.649.22
39,416.41
35,000.00
76,065.63
4,416.41
6%
MEASURE R
2,203,297.26
51,936.53
2,606.00
2,252,627.79
49,330.53
2%
MEASURE M
0.00
39,946.50
20,086,10
19,660.40
19,860.40
0%
HABITAT RESTORATION
1,177,122.24
0.00
0.00
1,177,122.24
0.00
0%
SUBREGION_1 MAINTENANCE
754.189.66
10,375.00
599.20
763,965.46
9,775.80
1%
MEASURE A MAINTENANCE
95,508.74
11,400.00
22,500.00
84.408.74
11,100.00
-12%
ABALONE COVE SEWER DISTRICT
146,420.71
52,000.00
26,903.25
171,517.46
25,096,75
17%
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
885,303.55
0.00
1,462.50
883,841.05
1,462.50
0%
QUIMBY
2,351,978.50
0.00
43,633.50
2,308,345.00
43,633.50
-2%
LOW -MODERATE INCOME HOUSING
140,604.16
0.00
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 PROTECTIOI
4,498,260.98
0.00
305,421.83
4,192.839.15
305.421.83
-7%
REDEVELOPMENT OBLIGATION RETI
446,120,69
0,00
0.00
446,120.69
0.00
0%
IMPROVEMENT DISTRICT 9
0.00
0.00
0.00
0.00
0.00
0%
SPECIAL TRUSTS
563,467.13
98,675.82
29,884.93
632,258.02
68,790.89
12%
Subtotal
20,096,188.31
487,111.44
651,282.78
19,932,036.97
164,151.34
1%
GRAND TOTAL
66,390,074.94
4.849.995.59
6,303,799.72
64,936,270.81
1,453,604.13)
2%
Total Investment: 64, 936, 270.81
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2017
A-3
Issuer of
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
$
4,414,276
N/A
$
4,414,276
000%
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
NIA
On Demand
$
3,000
N/A
$
3,000
000%
Local Agency Investment Fund (LAIF-CITY)
State of California
N/A
NIA
On Demand
$
33,043,783
NIA
$
33,043,783
1.11 %
CDARS - Malaga Bank
Malaga Bank
6/1812017
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
10/30/2017
$
250,000
$
250,000
075%
First Bank Puerto
Rico
4/29/2016
18 Mos
1 0/3 012 01 7
$
250,000
$
250,000
080%
MB Financial Bank
4/29/2016
30 Mos
10/29/2018
$
250,000
$
250,000
100%
United Bankers Bank
5/2/2016
30 Mos
10/29/2018
$
250,000
$
250,000
100%
Comenity Capital
Bank
5/2/2016
36 Mos
512/2019
$
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
514/2017
$
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
11/6/2017
$
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
11/5/2016
$
250,000
$
250,000
1 10%
Marlin Business
Bank
5/6/2016
24 Mos
5!7/2018
$
250,000
$
250,000
100%
Key Bank
5/11/2016
24 Mos
5/11/2018
$
250,000
$
250,000
100%
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
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 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
6/212016
46 Mos
4/212020
$
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
12/5/2017
$
25D,000
$
250,001)
090%
Community Bank
Chesapeake
6/8/2016
18 Mos
12/8/2017
$
250,000
$
250,000
0.85%
Franklin Synergy
Bank
6/10/2016
18 Mos
12/11/2017
$
250,000
$
250,000
085%
Firstrust Saving
Bank
6/10/2016
24 Moa
6/11/2018
$
250,000
$
250,000
100%
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
120%
Discover Bank
6/8/2016
36 Mos
6/10/2019
$
250,000
$
250,000
1 15%
Celtic Bank
611512016
36 Mos
6/14/2019
$
250,000
$
250,000
120%
Abacus Federal
Savings Bank
6/20/2016
39 Mos
9/1 712 01 9
$
250,000
$
250,000
125%
Tab Bank Inc
7/112016
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%
A-3
First Western Bank
7/15/2016
36 Mos
7/15/2019
$
250,000
$
250,000
100%
Signature Bank of
Arkansas
7/15/2016
46 Mos
7/15/2020
$
250,000
S
250,000
1 15%
Queensborough
National Bank
8/10/2016
24 Mos
6/10/2018
$
250,000
$
250,000
0 90 %
Carroll County State
Bank Iowa
8/12/2016
36 Mos
8/12/2019
$
250,000
$
250,000
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
8/1612017
$
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
8/19/2016
48 Mos
8/19/2020
$
250,000
$
250,000
125%
Capital Bank Corp
8/31/2016
24 Mos
8/31/2018
$
250,000
5
250,000
105%
Isabella Bank
9!7/2016
36 Mos
9/9/2019
$
250,000
S
250,000
1 15%
Bank of China/New
York
9/8/2016
12 Mos
9/8/2017
$
250,000
S
250,000
085%
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
10115/2019
$
250,000
$
250,000
1.30%
Winona Natinal
Bank
10/13/2016
12 Mos
10/13/2017
3
250,000
$
250,000
0.75%
Capital One NA
10/13/2016
48 Mos
10/13/2020
S
250,000
$
250,000
1.40%
Bank of New
England NH
10121/2016
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 Savings&Loan
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
11/6/2019
$
250,000
$
250,000
1 15%
Partners Bank
California
11/18/2016
36 Mos
1 111 81201 9
$
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
11/412021
$
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
1117/2017
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/MagnoliaAR
1/20/2017
12 Mos
1/19/2018
$
250,000
$
250,000
0.90°x6
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
111 412 01 9
$
250,000
$
250,000
140%
Flushing Bank
1/13/2017
24 Mos
1/14/2019
$
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
1/25/2017
24 Mos
1125/2019
$
250,000
$
250,000
1.35%
Stearns Bank NA
1/13/2017
36 Mos
1/13/2020
$
250,000
$
250,000
160%
Whitney Bank/MS
1/25/2017
36 Mos
1/27/2020
$
250,000
$
250,000
170%
Lakeside Bank
1/13/2017
42 Mos
7/13/2020
$
250,000
$
250,000
1 95%
Farmers&Merchants
BK NEB
1/18/2017
60 Mos
1118/2022
$
250,000
$
250,000
205%
Peoples United Bank
1/18/2017
60 Mos
1/18/2022
$
250,000
$
250,000
205%
DMB Community
Bank
1/13/2017
15 Mos
4/13/2018
$
250,000
$
250,000
100%
Patriot Federal Bank
1/20/2017
18 Mos
7/20/2018
$
250,000
$
250,000
1 05 %
Woori America Bank
1/13/2017
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
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%
WE
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%
JP MORGAN
CHASE BANK
2/15/2017
60 Mos
2/15/2022
$
200,000
$
200,000
230%
HSBC Bank USA
3/21/2017
60 Mos
3/21/2022
$
250,000
$
250,000
2 45 %
American Express
Centurion
3/21/2017
60 Mos
4/5/2022
$
250,000
$
250,000
245%
Slate Bank of India
6/30/2017
24 Mos
7/1/2019
$
250,000
$
250,000
1 75 %
Suntrust Bank
8/29/2017
60 Mos
8/29/2022
$
250,000
$
250,000
1 80%
Total Investment: $ 64,936,271
Total Investment Weighted Average Return 10%
SUMMARY OF CASH BALANCE BY INSTITUTION
SEPTEMBER 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
Bank of the West
Malaga Bank
State of California - LAIF
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
Respectfully submitted,
�!� I oA/0-
Treasurer Date