CC SR 20180206 H - City Dec 2017 Treasury ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 02/06/2018
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the December 2017 Cash
Balances/Monthly Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the December 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
December 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 $59,026,598, with more than $23.6 million
or 40% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $7.4 million or 13% of the total cash balance with Bank of the West, and over $3.8
million or 7% with Malaga Bank. In addition, the City has a total Certificates of Deposit
(CD) investments of $23.8 million or 40% 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 $13.9 million or 24% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $24.4 million or 41 % 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 $1.6 million or 3% in the Quimby Fund, over
1
$2.2 or 4% million in the Water Quality Fund, and over $10 million or 19% in Other
Restricted Funds.
The City's cash balance increased by more than $0.2 million from last month, and in
comparison to the same period last year, the cash balance decreased by $0.5 million.
The major variances include disbursements from the Capital Improvement Fund, Street
Maintenance Fund, Quimby Fund, and Water Quality Flood Protection Fund.
Disbursements included Palp, Inc. for the Miraleste Arterial Street Improvement Project;
Horizons Construction for the Eastview Dog Park Improvement Project; California
Landscape/Design for the Hawthorne Boulevard Bus Stop Linkage Project; American
Asphalt for the Residential Street Rehab Project; and Colich & Sons LP for the Storm
Drain Deficiency Improvement Project.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 2017
(1) All LAIF interest is paid quarterly.
Bank
Malaga
Payroll
356,716.32
Flexible Spending Accounts
YTD INT
Postage
of the West
Bank
3,357.05
INVESTMENT
INVESTMENT
OPERATING
OPERATING
PETTY CASH LAIF-CITY
CDARS
CO
TOTAL CASH
RECEIVED
BEGINNING BALANCE
2,222,451 77
3,827,591.64
3,000.00 28,640,545 52
250,000.00
23,860,524.19
58,804,113.12
PLUS DEPOSITS
4,580,409.60
4,580,409.60
PLUS. INTEREST EARNINGS(1)
0.00
178,159.08
LESS: CHECK DISBURSEMENTS
(3,961,792.65)
(3,961,792 65)
LESS: ELECTRONIC DISBURSEMENTS(2)
(363,534.27)
(363,534.27)
ADJUSTMENTS(3)
(32,598.22)
(32,598.22)
PLUS. TRANSFERS IN
5,000,000.00
5,000,000.00
LESS TRANSFERS OUT
(5,000,000.00)
(5.000,000.00)
ENDING BALANCE
7,444,936.23
3,827,591.64
3,000.00 23,640,545.52
250,000.00
23,860,524.19
59,026,597.58
176,159.08
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements.
Payroll
356,716.32
Flexible Spending Accounts
960.90
Postage
2,500.00
Bank and Merchant Fees
3,357.05
363,534.27
(3) The net adjustment was due to void checks, quarterly adjustmen, and deposit adjustment.
DECEMBER 2017 CASH BALANCE BY MAJOR FUNDS
■ GENERAL FUND
■ CIF
■ 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
DECEMBER 2017
BALANCE
FORWARD DEBIT CREDIT
Change In Change In
Ending Cash Ending Cash
CASH Balance Balance in %
Unrestricted
GENERAL FUND
13,443,225.94
7,411,621.52
6,952,817.48
13,902.029.98
458,804.04
3%
Restricted by Council Action
BEAUTIFICATION FUND
480,10342
0.00
13.176.81
466,926.61
(13,176.81)
-3%
CIP
24,475,807.20
1,131,500.00
1,157,373.57
24,449,933.63
(25,873.57)
0%
EQUIPMENT REPLACEMENT
2,448,046.46
75,225.00
30.079.44
2,493,192.02
45,145.56
2%
BUILDING REPLACEMENT
0.00
0.00
0.00
000
0.00
0%
EMPLOYEE BENEFITS
865 35)
88.45
000
(776.90)
88.45
-10%
Subtotal
27,403,091.73
1,206,813.45
1,200,629.82
27,409,275.36
6,183.63
0%
Restncted by Law or External Agencies
STREET MAINTENANCE
120,449.90
0.00
202,594.63
(82,144 73)
(202,594.63)
-168%
1972 ACT
28,572,75
1,228.17
52330
29,277.62
704.87
2%
EL PRADO
27,568.33
943.80
113.08
28,399.05
830.72
3%
CDBG
39,040.00
0.00
1,605.00
37,435.00
(1,605 00)
4°%
CDBG-R
0.00
0.00
0.00
0.00
0.00
0%
1911 ACT
1,878,150.23
242,703.76
64,916.41
2,055.937.58
177,787.35
9%
SOLID WASTE
428,847.27
0.00
22.026.81
406,820.46
(22,026.81)
-5%
AIR QUALITY MANAGEMENT
84,434.42
13,877.50
0.00
98,311.92
13,877.50
16
PROPOSITION C
609,860.71
67,379.08
1,921.50
675,318.29
65,457 58
11%
PROPOSITION A
2,380,404 36
81,259.74
39,946.23
2,421,717.87
41,313 51
2%
PUBLIC SAFETY GRANTS
119,724.98
24,005.88
35,000.00
108,730.86
(10,994.12)
-9%
MEASURE R
2,167,024.32
50,325.79
0.00
2.217,350.11
50,325.79
2%
MEASURE M
39,154.10
69,962.97
11,923.64
97,193.43
58,039.33
100%
HABITAT RESTORATION
1,160,469.20
0.00
0.00
1,160,469.20
000
0%
SUBREGION 1 MAINTENANCE
757,153.92
33,091.00
6,357.34
783,887.58
26,733.66
4%
MEASURE A MAINTENANCE
134,990.62
0.00
22,500.00
112,490.62
22,500.00
-17%
ABALONE COVE SEWER DISTRICT
164,918.80
74,642.91
7,383.79
232,177.92
67,259.12
41%
RPVTV
000
0.00
0.00
0.00
0.00
0%
GINSBURG CULTURE ARTS BUILDING
86,473.45
0.00
0.00
86,473.45
0.00
0%
DONOR RESTRICTED CONTRIBUTION
884,514.91
16,500.00
1,748.50
899,266.41
14,751.50
2%
FEDERAL GRANTS
187,787.65
0.00
0.00
187,787.65
0.00
0%
QUIMBY
1,902,651.37
0.00
223,448.34
1,679,203.03
(223,448.34)
-12%
LOW -MODERATE INCOME HOUSING
141,044.94
0.00
0.00
141,044.94
0.00
0%
AFFORDABLE HSNG IN LIEU
594,490.31
0.00
0.00
594,490.31
0.00
0%
EET
371,545.58
0.00
0.00
371,545.58
0.00
0%
MEASURE A CAPITAL
0.00
0.00
0.00
0.00
0.00
0%
BIKEWAYS
0.00
0.00
16,436.61
(16.436.61)
(16,436.61)
0%
UNDERGROUND UTILITIES
0.00
0.00
0.00
0.00
0.00
0%
ROADWAY BEAUTIFICATION
0.00
0.00
0.00
000
0.00
0%
WATER QUALITY FLOOD PR3TECTIOl
2,532,862.35
0.00
236,060.99
2.296,801.36
(236,060.99)
-9%
REDEVELOPMENT OBLIGATION RETIF
445,635.89
0.00
1,616.29
444,019.60
(1,616.29)
0%
IMPROVEMENT DISTRICT 9
0.00
0.00
0.00
0.00
0.00
0%
SPECIAL TRUSTS
670,025.09
15,387.23
37,688.58
647,723.74
(22,301.35)
-3%
,Subtotal
17,957,795.45
691,307.83
933,811.04
17,715,292.24
242,503.21
-1%
GRAND TOTAL
58,804,113.12
9,309,742.80
9,087,258.34
59,026,597.58
222,484.46
0%
Total Investment: 59, 026, 597.58
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 2017
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
$
7,444,936
NIA
$
7,444,936
0.001E
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
3,827,592
N/A
$
3,827,592
0.259E
Petty Cash
NIA
NIA
N/A
On Demand
$
3,000
NIA
$
3,000
0.001E
Local Agency Investment Fund (LAIF-CITY)
State of California
N/A
NIA
On Demand
$
23,640,546
N/A
$
23,640,546
1.249E
CDARS - Malaga Bank
Malaga Bank
6/18/2017
26 weeks
12/19/2017
250,000
$
250,000
0.8514
CD - Bank of New York (Vinking Sparks)
Citizens Sate Bank
4/29/2016
18 Mos
10/30/2017
$
250,000
$
259,223
0.7594
First Bank Puerto
Rico
4/29/2016
18 Mos
10/30/2017
$
250,000
$
259,223
0.8094
MB Financial Bank
4/29/2016
30 Mos
10/29/2018
$
250,ODO
$
259,223
1.009E
United Bankers Bank
5/2/2016
30 Mos
1029/2018
$
250,000
$
259,223
1.009E
Comenity, Capital
Bank
522016
36 Mos
522019
$
250,000
$
259,223
1.2094
Medallion Bank Utah
5/32016
30 Mos
11/52018
$
250,000
$
259,223
1.009E
TCF National Bank
5/42016
18 Mos
11/6/2017
$
250,000
$
259,223
0.709E
Israel Discount Bank
of NY
5/4/2016
24 Mos
5/42018
$
250,ODO
$
259,223
1.051E
Goldman Sachs
Bank USA
5/42016
36 Mos
5/6/2019
$
250,000
$
259,223
1.251A
Capital One Bank
USA
5/4/2016
36 Mos
5/62019
$
250,000
$
259,223
1.209E
Wells Fargo Bank
5142016
36 Mos
5/62019
$
250,000
$
259,223
1.259E
Safra National Bank
5/4/2016
18 Mos
11/6/1017
$
250,000
$
259,223
0.809E
Investors Bank/Short
Hills
5/52016
24 Mos
5/4/2018
$
250,060
$
259,223
1.001h
Ally Bank
5/52016
30 Mos
11/52018
$
250,000
$
259,223
1.109E
Martin Business
Bank
5/6/2016
24 Mos
5/72018
$
250,000
$
259,223
1.00h
Key Bank
5/112016
24 Mos
5/112018
$
250,000
$
259,223
1.001E
BMW Bank North
America
5272016
36 Mos
5282019
$
250,000
$
259,223
1.15°/
Pacific Continental
Bank
5/312016
36 Mos
5/312019
$
250,000
$
259,223
1.109E
Triad Bank
6/2/2016
46 Mos
402020
$
250,000
$
259,223
1.259E
Parc Premier Bank
6/3/2016
18 Mos
12/52017
$
250,000
$
259,223
0.90%
Community Bank
Chesapeake
6182016
18 Mos
12782017
$
250,000
$
259,223
0.859E
Franklin Synergy
Bank
6/10/2016
18 Mos
12/112017
$
250,000
$
259,223
0.859E
Firstrust Saving
Bank
6/102016
24 Mos
6/112018
$
250,000
$
259,223
1.009E
Farm Bureau Bank
6/152016
24 Mos
6/152018
$
250,000
$
259,223
1.0094
Capstone Bank
6/152016
36 Mos
6/142019
$
250,000
$
259,223
1.20%
Capital Bank Little
Rock
6222016
39 Mos
9232019
$
250,032
$
259,223
1.201E
Discover Bank
6/8/2016
36 Mos
6/102019
$
250,000
$
259,223
1.159E
Celtic Bank
6/152016
36 Mos
6/142019
$
250,000
$
259,223
1.201E
Abacus Federal
Savings Bank
6/202016
39 Mos
9/172019
$
250,000
$
259,223
1.259E
Tab Bank Inc
7/12016
15 Mos
1022017
$
250,000
$
259,223
0.8094
Luana Savings Bank
7182016
48 Mos
7/82020
$
250,000
$
259,223
1.15%
Wax Bank
7/82016
24 Mos
7/81618
$
250,000
$
259,223
0.959E
Communiy Fin[
SVCS Bank
7/122016
36 Mos
7/12/2019
$
250,000
$
259,223
1.059E
First Western Bank
7/152016
36 Mos
7/152019
$
250,000
$
259,223
1.009E
Signature Bank of
Arkansas
7/152016
48 Mos
7/152020
$
250,000
$
259,223
1.15°f
Queensborough
National Bank
6/102016
24 Mos
8/102018
$
250,000
$
259,223
0.909E
Carroll County State
Bank lova
8/122016
36 Mos
8/1212019
$
250,000
$
259,223
1.009E
Everbank /
Jacksonville FL
8/122016
36 Mos
8/122019
$
250,000
$
259,223
1.159E
A-3
Central Statee Bank
Iowa
8/17/2016
12 Mos
8/162017
$
250,000
$
259,223
0.70%
Caldwell Bank &
Trust Co.
8/19/2016
36 Mos
8/1912019
$
250,000
$
259,223
1.00%
Live Oak Banking
Company
8/192016
48 Mos
8/19/2020
$
250,000
$
259,223
1.25%
Capital Bank Corp
8/3112016
24 Mos
8/312018
$
250,000
$
259,223
1.05%
Isabella Bank
9/7/2016
36 Mos
9/92019
$
250,000
$
259,223
1.15%
Bank of China/New
York
9/812016
12 Mos
9/82017
$
250,000
$
259,223
0.85%
Gold Coast
Bank/Chicago
9/92016
45 Mos
619/2020
$
250,000
$
259,223
1.15%
Bankers Bank of the
West
9/142016
36 Mos
9113/2019
$
250,000
$
259,223
1.15%
Yadkin Bank
9/19/2016
36 Mos
9/19/2019
$
250,000
$
259,223
1.10%
Benificial Bank
10/712016
48 Mos
10/712020
$
250,000
$
259,223
1.35%
Sallie Mae Bank/Salt
Lake
10/122016
36 Mos
10/15/2019
$
250,000
$
259,223
130%
Monona State Bank
10/13/2016
12 Mos
10/13/2017
$
250,000
$
259,223
0.75%
Capital One NA
10/132016
48 Mos
10/13!2020
$
250,000
$
259,223
1.40%
Bank of New
England NH
10/212016
36 Mos
102112019
$
250,000
$
259,223
1.20%
Midland State Bank
11/2/2016
24 Mos
11/2/2018
$
250,000
$
259,223
1.10%
Home Savings&Loan
11/182016
12 Mos
11/17/2017
$
250,000
$
259,223
0.80%
American Bank
Center
11/1012016
24 Mos
11/92018
$
250,000
$
259,223
1.10%
Preferred Bank La
California
11/9/2016
36 Mos
11/82019
$
250,000
$
259,223
1.15%
Partners Bank
California
11/18Q016
36 Mos
11/18/2019
$
250,000
$
259,223
1.10%
Independent
BklMemphis
11/162016
37 Mos
12/16/2019
$
250,000
$
259,223
1.15%
Synchrony Bank
11/42016
60 Mos
11/4/2021
$
250,000
$
259,223
1.70%
Washington Trust
Wetedy
11/182016
36 Mos
11/18/2019
$
250,000
$
259,223
1.35%
Banc of California
1/13/2017
12 Mos
1/122018
$
250,000
$
259,223
1.00%
Mbank of Manistique
MI
1/172017
12 Mos
1/17/2018
$
250,000
$
259,223
100%
First Federal Bank of
Dunn NC
1/20/2017
12 Mos
1/19/2018
$
250,000
$
259,223
0.90%
Peoples
Bank/Magnolia AR
1/202017
12 Mos
1/192018
$
250,000
$
259,223
090%
Greenfield Savings
Bank
11202017
12 Mos
1/1912018
$
250,000
$
259,223
0.90%
Gorham Savings
Bank ME
1/25/2017
12 Mos
1/25/2018
$
250,000
$
259,223
0.90%
Atlantic Stewardship
BK
1/132017
24 Mos
1/14/2019
$
250,000
$
259,223
1.40%
Flushing Bank
1/132017
24 Mos
1/14/2019
$
250,000
$
259,223
1.40%
First National Bank
Paragould
1/182017
24 Mos
1/182019
$
250,000
$
259,223
1.35%
Little Bank
1/25/2017
24 Mos
1/25/2019
$
250,000
$
259,223
1.35%
Steams Bank NA
1/1312017
36 Mos
1/132020
$
250,000
$
259,223
1.60%
Whitney Bank/MS
1125/2017
36 Mos
127/2020
$
250,000
$
259,223
1.70%
Lakeside Bank
1/132017
42 Mos
7/13/2020
$
250,000
$
259,223
1.95%
Farmers&Merchants
BK NEB
1118/2017
60 Mos
1/1812022
$
250,000
$
207,379
2.05%
Peoples United Bank
1/182017
60 Mos
1/18/2022
$
250,000
$
259,223
2.05%
DMB Community
Bank
1/1312017
15 Mos
4/13/2018
$
250,000
$
259,223
1,00%
Patriot Federal Bank
1/20/2017
18 Mos
712012018
$
250,000
$
259,223
1.05%
Woon America Bank
1/13/2017
24 Mos
1/14/2019
$
250,000
$
259,223
1.35%
Union Bank and
Trust/OX
1/20/2017
30 Mos
7012/2019
$
250,000
$
259,223
1.45%
World Foremost
Bank
112112017
36 Mos
1/2112020
$
250,000
$
259,223
1.75%
First National Bank
of America
112012017
60 Mos
1/20/2022
$
250,000
$
259,223
2.00%
East Boston Savings
Bank
1/20/2017
60 Mos
1/202022
$
250,000
$
259,223
2.00%
Henry County Bank
OH
1127/2017
60 Mos
1127/2022
$
250,000
$
259,223
1.90%
JP MORGAN
CHASE BANK
2/152017
60 Mos
2/152022
$
250,000
$
259,223
2.30%
HSBC Bank USA
3121/2017
60 Mos
3121/2022
$
250,000
$
259,223
2.45%
I
American Express
Centurion
3/21/2017
60 Mos
4/5/2022
$
200,000
$
259,223
245%
State Bank of India
6!302017
24 Mos
7/1/2019
$
250,000
$
259,223
1.75%
Industrial&Com Bank
China
622017
60 Mos
622022
$
250,000
$
259,223
2.05%
First Bank of
Highland
6/72017
60 Mos
6!72022
$
250,000
$
259,223
2.10%
Crossfirst Bank
6!92017
60 Mos
6/92022
$
200,000
$
259,223
2.05%
Suntrust Bank
8/292017
60 Mos
8/292022
$
250,000
$
250,000
1.80%
Enerbank UDA
10/1312017
48 Mos
10113/2021
$
94,220
$
94,220
2.00%
Northfiled Bank
10252017
60 Mos
10/252022
$
238,038
$
238,038
2.15%
Total Investment:
$
59,026,598
Total
Investment Weighted Average Return
1.0%
SUMMARY OF CASH BALANCE BY INSTITUTION
DECEMBER 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,
D2,�=
Treasurer Dated
M,