CC SR 20180306 E - January 2018 Cash Balances Monthly Treasurer's ReportRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
AGENDA DESCRIPTION:
MEETING DATE: 03/06/2018
AGENDA HEADING: Consent Calendar
Consideration and possible action regarding the January 2018 Cash Balances/Monthly
Treasurer's Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the January 2018 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
January 2018. 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 $62,198,797, with more than $23.7 million
or 38% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $9.6 million or 15% of the total cash balance with Bank of the West, and over $4
million or 7% with Malaga Bank. In addition, the City has a total Certificates of Deposit
(CD) investments of over $24.7 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 $17 million or 27% in cash balance, and
the Capital Improvement Projects (CIP) Fund has over $24.5 million or 40% 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 $11 million or 18% in Other
Restricted Funds.
The City's cash balance increased by more than $3.1 million from last month, and in
comparison to the same period last year, the cash balance increased by $0.9 million.
The major variance included January receipts in the amount of $3.2 million from the
property tax apportionment and the Redevelopment Property Tax Trust Fund allocation.
All normal operating expenditures were disbursed in accordance with the FY17-18
budget.
2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JANUARY 2018
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements.
Payroll
Bank
Malaga
3,256.00
Flexible Spending Accounts
3,013.45
HSA Premium
YTO INT
Postage
of the West
Bank
3,98642
INVESTMENT
INVESTMENT
OPERATING
OPERATING PETTY CASH
tAIF-CITY
CDARS
CO
TOTAL CASH
RECEIVED
BEGINNING BALANCE
7,444,936.23
3,827,591 64 3,000.00
23,640,545.52
250,090.00
23,860,524.19
59,026,597.58
PLUS: DEPOSITS
6,241,205.40
6,241,205.40
PLUS. INTEREST EARNINGS(1)
3,49108
85,953.58
89,444.66
267,603.74
LESS: CHECK DISBURSEMENTS
(2,507,519.75)
(2,507,519.75)
LESS. ELECTRONIC DISBURSEMENTS(2)
(653,33939)
(653,339.39)
ADJUSTMENTS(3)
2,408.73
2,408.73
PLUS: TRANSFERS IN
250,000.00
914,497.59
1,164,497.59
LESS: TRANSFERS OUT
(914,497.59)
(250,000.00)
(1,164,497.59)
ENDING BALANCE
9,613,193.63
4,081,082.72 3,000.00
23,726,499.10
000
24,775,02178
62,198,797.23
267,603.74
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements.
Payroll
544,211.23
Sales Taxes
3,256.00
Flexible Spending Accounts
3,013.45
HSA Premium
96,372.29
Postage
2,500.00
Bank and Merchant Fees
3,98642
653,339.39
(3) The net adjustment was due to void checks, quarterly adjustmen, and deposit adjustment.
JANUARY 2018 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 2018
BALANCE
CASH BALANCES BY FUND FORWARD DEBIT CREDIT CASH
Change In Change In
Ending Cash Ending Cash
Balance Balance in %
Unrestncted
GENERAL FUND
13,902,029.98
8,946,581.75
5,845,474.23
17,003,137.50
3,101,107.52
22%
Restricted b Council Action
BEAUTIFICATION FUND
466,926.61
711.94
0.00
467,638.55
711.94
0%
CIP
24,449,933.63
775,419.38
641,202.58
24,584,150.43
134,216.80
1%
EQUIPMENT REPLACEMENT
2,493,192.02
3,695.08
5,146.98
2,491,740.12
1,451.90
0°%
BUILDING REPLACEMENT
0.00
0.00
0.00
0.00
0.00
0%
EMPLOYEE BENEFITS
776.90
0.00
0.00
776.90
0.00
0%
Subtotal
27,409,275.36
779,826.40
646,349.56
27,542,752.20
133,476.84
0°%
Restricted by Law or External Agencies
STREET MAINTENANCE
82,144.73
133,985.28
59,836.83
7,996.28
74,148.45
90%
1972 ACT
29,277.62
42.38
1,725.08
27,594.92
1,682.70
-6%
EL PRADO
26,399.05
298.85
0.00
28,697.90
298.85
1%
CDBG
37,435.00
20,899.00
54,154.31
4,179.69
33,255.31
-89%
CDBG-R
0.00
0.00
0.00
0.00
0.00
0%
1911 ACT
2,055,937.58
69,113.24
54,590.68
2,070,460.14
14,522.56
1%
SOLID WASTE
406,820.46
50,213.19
17,393.49
439,640.16
32,819.70
8%
AIR QUALITY MANAGEMENT
98,311.92
133.28
24,997.54
73,447.66
24,864.26
-25°%
PROPOSITION C
675,318.29
48,438.92
3,254.00
720,503.21
45,184.92
71%/-
%PROPOSITION
PROPOSITIONA
2,421,717.87
60,811.08
316,299.90
2,164,229.05
257,488.82
-11%
PUBLIC SAFETY GRANTS
108,730,86
23,235.56
0.00
131,966.42
23,235.56
21%
MEASURE R
2,217,350.11
38,858.51
0.00
2,256,208.62
38,858.51
2%
MEASURE M
97,193.43
44,041.13
3,429.42
137,805.14
40,611.71
42%
HABITAT RESTORATION
1,160,469.20
1,741.56
57,274.09
1,104,936.67
55,532.53
-5%
SUBREGION 1 MAINTENANCE
783,887.58
1,148.34
821.67
784,214.25
326.67
0%
MEASURE A MAINTENANCE
112,490.62
173.12
0.00
112,663.74
173,12
0%
ABALONE COVE SEWER DISTRICT
232,177.92
5,962.04
5.897.44
232,242.52
64.60
0%
RPVTV
0.00
0.00
0.00
0.00
0.00
0%
GINSBURG CULTURE ARTS BUILDING
86,473.45
129.41
0.00
86,602.86
129.41
0%
DONOR RESTRICTED CONTRIBUTION
899,266.41
4,331.50
110.38
903,487.53
4,221.12
0%
FEDERAL GRANTS
187,787.65
128,464.99
0.00
316,252.64
128,464.99
68%
QUIMBY
1,679,203.03
2,758.38
26,071.00
1,653,890.41
25,312.62
-2%
LOW -MODERATE INCOME HOUSING
141,044.94
14,922.88
4,895.51
151,072.31
10,027.37
7%
AFFORDABLE HSNG IN LIEU
594,490.31
889.70
0.00
595,380.01
889.70
0%
EET
371,545.58
4,458.04
0.00
376,003.62
4,458.04
1%
MEASURE A CAPITAL
0.00
0.00
0.00
0.00
0.00
0%
BIKEWAYS
16,436.61
0.00
0.00
16,436.61
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
2,296,801.36
4,041.25
31,170.63
2,269,671.98
27,129.38
-1%
REDEVELOPMENT OBLIGATION RETIF
444,019.60
666.20
0.00
444,685.80
666.20
0°%
IMPROVEMENT DISTRICT 9
0.00
0.00
0.00
0.00
0.00
0%
SPECIAL TRUSTS
647,723.74
12,610.49
68,831.06
591,503.17
56,220.57).-9%
Subtotal
17,715,292.24
672,368,32
734,753,03
17,652,907.53
(62,384.71
0%
GRAND TOTAL
59,026,597.58
10,398,776.47
7,226,576.82
62,198,797.23
3,172,199.65
5%
Total Investment: 62,198, 797.23
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JANUARY 2018
A-3
Issuer of
Acquisition
Maturity
Market
Par
Book
Investment
Investment
Date
Term
Data
Value
Value
Value
Yield
Checking Accounts
Bank of the West
N/A
N/A
On Demand
$
9,613,194
N/A
$
9,613,194
0.00%
Checking Accounts
Malaga Bank
N/A
N/A
On Demand
$
4.081.083
N/A
$
4,081,083
0.25%
Petty Cash
NIA
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
NIA
On Demand
$
23,726,499
N/A
$
23,726,499
1.35%
CD - Bank of New York (Vining Sparks)
Citizens Sate Bank
4/29/2016
18 Mos
tOf30/2017
$
250,000
$
259,223
0.75%
First Bank Puerto
Rico
4/29/2016
18 Mos
10=/2017
$
250,000
$
259,223
0.80%
MB Financial Bank
429/2016
30 Mos
10292018
$
250,000
$
259,223
1.00%
United Bankers Bank
52/2016
30 Mos
10292018
$
250,000
$
259,223
1.00%
Comenity, Capital
Bank
522016
36 Mos
5/2/2019
$
250,000
$
259,223
1.20%
Medaltion Bank Utah
5/32016
30 Mos
11/5/2018
$
250,000
$
259,223
1.00%
TCF National Bank
5/4/2016
18 Mos
11/6/2017
$
250,000
$
259,223
0.70%
Israel Discount Bank
of NY
5/42016
24 Mos
5/42018
$
250,000
$
259,223
1.05%
Goldman Sachs
Bank USA
5/42016
36 Mos
5/62019
$
250,000
$
259,223
1.25%
Capital One Bank
USA
5/42016
36 Mos
5!62019
$
250,000
$
259,223
1.20%
Wells Fargo Bank
5/4/2016
36 Mos
5/62019
$
250,000
$
259,223
125%
Safra National Bank
5/4/2016
18 Mos
11/612017
$
250,000
$
259,223
0.80%
Investors Bank/Short
Hills
5/52016
24 Mos
5/42018
$
250,000
$
259,223
1.00%
Ally Bank
5/52016
30 Mos
11 /52018
$
250,000
$
259,223
1.10%
Marlin Business
Bank
5/6201fi
24 Mos
5/7/2018
$
250,000
$
259,223
1.00%
Key Bank
5/112016
24 Mos
5/112018
$
250,000
$
259,223
1.00%
BMW Bank North
America
5272016
36 Mos
5282019
$
250,000
$
259,223
1.15%
Pacific Continental
Bank
5r312016
36 Mos
5/312019
$
250,000
$
259,223
1.10%
Triad Bank
62/2016
46 Mos
4212020
$
250,000
$
259,223
1.25%
Pacific Premier Bank
6/3/2016
18 Mos
12/52017
$
250,000
$
259,223
0.90%
Community Bank
Chesapeake
6/8/2016
18 Mos
12/82017
$
250,000
$
259,223
085%
Franklin Synergy
Bank
6/10/2016
18 Mos
12/11 Q01 7
$
250,000
$
259,223
0.85%
Firstrust Saving
Bank
6/1112016
24 Mos
6/112018
$
250,000
$
259,223
1.00%
Farm Bureau Bank
6/15/2016
24 Mos
6/152018
$
250,000
$
259,223
1.00%
Capstone Bank
6/152016
36 Mos
6/142019
$
250,000
$
259,223
1.20%
Capital Bank Little
Rock
5222016
39 Mos
9232019
$
250,000
$
259,223
1.20%
Discover Bank
6/8/2016
36 Mos
6!102019
$
250,000
$
259,223
1.15%
Celtic Bank
6/152016
36 Mos
6/142019
$
250,000
$
259,223
1.20%
Abacus Federal
Savings Bank
6202016
39 Mos
9/172019
$
250,000
$
259,223
1.25%
Tab Bank Inc
7/12016
15 Mos
1022017
$
250,000
$
259,223
0.80%
Luana Savings Bank
7/8/2016
48 Mos
7182020
$
250,000
$
259,223
1.15%
Wax Bank
7/82016
24 Mos
7/82018
$
250,000
$
259,223
0.95%
Communty Finl
SVCS Bank
7/122016
36 Mos
7/12/2019
$
250,000
$
259,223
1.05%
First Western Bank
7/152016
36 Mos
7/152019
$
250,000
$
259,223
1.00%
Signature Bank of
Arkansas
7/152016
48 Mos
7/15/2020
$
250,000
$
259,223
1.15%
Queensborough
National Bank
8/10/2016
24 Mos
8/10/2018
$
250,000
$
259,223
090%
Carroll County State
Bank Iowa
8/122016
36 Mos
81122019
$
250,000
$
259,223
1.00%
Eveibank /
Jacksonville FL
8/12/2016
36 Mos
8/12/2019
$
250,000
$
259,223
1.15%
Central Statee Bank
Iowa
8/17/2016
12 Mos
8/162017
$
250,000
$
259,223
0.70%
A-3
Caldwell Bank &
Trust Co.
8/19/2016
36 Mos
8/19/2019
$
250,000
$
259,223
100%
Live Oak Banking
Company
8/19/2016
48 Mos
8/19/2020
$
250,000
$
259,223
1.25%
Capital Bank Corp
&312016
24 Mos
af31/2018
$
250,000
$
259.223
1.05%
Isabella Bank
9172016
36 Mos
9/92019
$
250,000
$
259,223
1.15%
Bank of China/New
York
9/82016
12 Mos
9/82017
$
250,000
$
259,223
0.85%
Gold Coast
Bank/Chicago
9/92016
45 Mos
6/92020
$
250,000
$
259,223
1.15%
Bankers Bank of the
West
9/14/2016
36 Mos
9/132019
$
250,000
$
259,223
1.15%
Yadkin Bank
9/192016
36 Mos
9/192019
$
250,000
$
259,223
1.10%
Benficial Bank
10f72016
48 Mos
1 0r71202
$
250,000
$
259,223
1.35%
Sallie Mae Bank/Salt
Lake
10/12/2016
36 Mos
10/1512019
$
250,000
$
259,223
130%
Monona State Bank
10/132016
12 Mos
10/13/2017
$
250,000
$
259,223
0.75%
Capital One NA
10/132016
48 Mos
1011312020
$
250,000
$
259,223
1.40%
Bank of New
England NH
1021/2016
36 Mos
10212019
$
250,000
$
259,223
1.20%
Midland State Bank
11/2/2016
24 Mos
1122018
$
250,000
$
259,223
1.10%
Home SavingsBLoan
11/182016
12 Mos
11/172017
$
250,000
$
259,223
0.80%
American Bank
Center
11/102016
24 Mos
11/92018
$
250,000
$
259,223
1.10%
Preferred Bank La
California
11/92016
36 Mos
11/82019
$
250,000
$
259,223
1.15%
Partners Bank
California
11/182016
36 Mos
11/182019
$
250,000
$
259,223
1.10%
Independent
Bk/Memphis
11/162016
37 Mos
12/1612019
$
250,000
$
259,223
1.15%
Synchrony Bank
11/42016
60 Mos
11/42021
$
250,000
$
259,223
1.70%
Washington Trust
Weterly
11/182016
36 Mos
11/18/2019
$
250,000
$
259,223
1.35%
Banc of California
1/132017
12 Mos
1/122018
$
250,000
$
259,223
1.00%
Mbank of Manistique
MI
1/172017
12 Mos
1/172018
$
250,000
$
259,223
1.00%
First Federal Bank of
Dunn NC
1202017
12 Mos
1/192018
$
250,000
$
259,223
0.90%
Peoples
Bank/Magnolia AR
1202017
12 Mos
1/192018
$
250,000
$
259,223
0.90%
Greenfield Savings
Bank
1202017
12 Mos
1/19/2018
$
250,000
$
259,223
0.90%
Gorham Savings
Bank ME
1252017
12 Mos
1252018
$
250,000
$
259,223
0.90%
Atlantic Stewardship
BK
1/132017
24 Mos
1/142019
$
250,000
$
259,223
1.40%
Flushing Bank
1/13/2017
24 Mos
1/142019
$
250,000
$
259,223
1.40%
First National Bank
Paragould
1/182017
24 Mos
1/182019
$
250,000
$
259,223
1.35%
Little Bank
125/2017
24 Mos
1252019
$
250,000
$
259,223
1.35%
Steams Bank NA
1/132017
36 Mos
1/132020
$
250,000
$
259,223
1.60%
Whitney Bank/MS
1252017
36 Mos
1272020
$
250,000
$
259,223
1.70%
Lakeside Bank
1/1372017
42 Mos
7/132020
$
250,000
$
259,223
1.95%
FarmersBMerchants
BK NEB
1/182017
60 Mos
1/182022
$
250,000
$
207,379
2.05%
Peoples United Bank
1/182017
60 Mos
1/182022
$
250,000
$
259,223
2.05%
DMB Community
Bank
1/132017
15 Mos
4/132018
$
250,000
$
259,223
1.00%
Patriot Federal Bank
1202017
18 Mos
7202018
$
250,000
$
259,223
105%
Woon America Bank
1/132017
24 Mos
1/142019
$
250,000
$
259,223
1.35%
Union Bank and
Trust/OX
1202017
30 Mos
7222019
$
250,000
$
259,223
1.45%
World Foremost
Bank
1212017
36 Mos
1212020
$
250,000
$
259,223
1.75%
First National Bank
of America
1202017
60 Mos
1202022
$
250,000
$
259,223
2.00%
East Boston Savings
Bank
1202017
60 Mos
120/2022
$
250,000
$
259,223
2.00%
Henry County Bank
OH
1272017
60 Mos
1272022
$
250,000
$
259,223
1.90%
JP MORGAN
CHASE BANK
2/15/2017
60 Mos
2/152022
$
250,000
$
259,223
2.30%
HSBC Bank USA
3212017
60 Mos
3212022
$
250,000
$
259,223
2.45%
American Express
Centurion
3212017
60 Mos
4/52022
$
200,000
$
259,223
2.45%
State Bank of India
6/302017
24 Mos
7/12019
$
250,000
$
259,223
1.75%
ME,
Industrial&Com Bank
,/-
V �'
l IS
Treasurer
Dated
China
6/2!2017
60 Mos
6/212022
$
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
6292017
60 Mos
8/292022
$
250,000
$
250,000
180%
Enerbank UDA
10/132017
48 Mos
10/1312021
$
250,000
$
94,220
2.00%
Northfiled Bank
10252017
60 Mos
10252022
$
250,000
$
238,038
2.15%
First Narl Bank
Michigan
1/122018
27 Mos
4/132020
$
250,000
$
250,000
2.00%
LCA Bank Corp
11122018
60 Mos
1/122023
$
250,000
$
181,661
2.35%
Morton Community
1/192018
36 Mos
1/192021
$
250,000
$
250,000
2.15%
Mid -Missouri Bank
1/192018
60 Mos
11192023
$
250,000
$
232,836
2.35%
Total Investment: $ 62,198,797
Total Investment Weighted Average Return 1.05%
SUMMARY OF CASH BALANCE BY INSTITUTION
JANUARY 2018
NOTE:
(1) See footnote on the summary page
(2) LAIF market values will be reported to vary trom 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,
,/-
V �'
l IS
Treasurer
Dated
A-5