CC SR 20151104 I - Sept 2015 Cash BalCITY OF RANCHO PALOS VERDES
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR & CITY COUNCIL MEMBERS
DEBORAH CULLEN, DIRECTOR OF FINANCE ~
NOVEMBER 4, 2015
SEPTEMBER 2015 MONTHLY REPORT OF CASH BALANCES
DOUG WILLMORE, CITY MANAGER ~
Project Manager: Jane Lin, Accountant
RECOMMENDATION
Receive and file the September 2015 Monthly Report of Cash Balances for the Rancho
Palos Verdes.
BACKGROUND
This report summarizes the cash activity associated with all funds of the City for the
month of September 2015. A separate report is prepared monthly for the Improvement
Authority and is presented under separate cover before the Authority Commission.
DISCUSSION
The overall cash balances of the City totaled $58,576,494 at September 30, 2015. Cash
increased by $966,856 during the month. Compared to the same period last year, the
cash balance decreased by $658,640. The major variance to last year is due to the
receipt of $827,904 from the developer for the Highridge Condo Project and a
reimbursement of $255,543 for the Prop 1 E Storm Water Flood Management Program.
The overall cash balance decrease is described below. These factors are discussed in
detail below for each fund experiencing a noteworthy cash event (defined as more than
$50,000 and 5% of the cash balance in a particular fund).
General Fund . CIP Fund . Equipment Replacement Fund. Employee Benefits Fund .
Habitat Restoration Fund. and Abalone Cove Sewer District Fund -There were
1
September 2015 Monthly Report of Cash Balances
November 4, 2015
Page 2
significant changes in the cash balances for each of these funds during September due
to the interfund transfers among funds in accordance with the FY15-16 budget. General
Fund is the primary funding resource where the City receives most revenues from.
City's major projects are either funded or subsidized by General Fund; therefore,
interfund transfers are processed.
Street Maintenance Fund -The cash balance in this fund increased by more than
$68,000 during the month. The City received both its August and September Highway
User Tax payment in September while normal operating expenditures were disbursed.
Proposition C Fund -The cash balance in this fund increased by more than $59,000
during the month due to receipt of the September Proposition an apportionment.
Proposition A Fund -The cash balance in this fund increased by more than $71,000
during the month due to receipt of the September Proposition an apportionment. The
Proposition A fund pays for the Palos Verdes Peninsula Transit Authority contribution.
Disbursements for that contribution are made twice annually.
Quimby Fund -The cash balance in this fund increased by more than $827,000 during
the month due to receipt of $827,904 from Glenmont Cal-Coast for the Highridge Condo
Project.
Water Quality Flood Protection Fund -The cash balance in this fund increased by more
than $236,000 during the month. The increase was due to receipt of $255,543 for the
Proposition 1 E for the San Ramon Canyon Stabilization project.
Special Trusts Fund -The cash balance in this fund increased by more than $51,000
during the month. The increase was primarily due to receipt of the deposits, including
$35,000 from Panorama Management Group and $12,000 form Mountain Sports.
2
BEGINNING BALANCE
PLUS : DEPOSITS
PLUS : INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
END ING BALANCE
(1) All LAIF interest is paid quarterly
(2) Electronic Disbursements:
Payroll
Cal Pers
ICMA&HSA
Retirement Health Savings Withholdings
Flexible Spend ing Accounts
Postage
Bank and Merchant Fees
Bank
of America
OPERATING
38,426.89
895.15
(1,563,63)
3,700.26
(41,458,67)
o.oo
BOA
1,563.63
1,563.63
Bank
of the West
OPERATING
1,615, 768.62
3 ,002,364.52
(1,424,118.13)
(510,014.37)
(104,407 ,56)
41,456.67
2,621,051.73
BOW
394,706.80
74,136.53
23,472 72
10,126.16
2,854.00
2,500.00
2,218.16
510,014.37
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
SEPTEMBER 2015
Malaga
Bank
OPERATING PETTY CASH LAIF-CITY
3,802,336.06 3,000.00 49,950,106.27
3,802,336.06 3 ,000.00 49,950, 106.27
(3) The net adjustment was due to interfund transfers and other deposit adjustment.
CASH BALANCES BY FU ND
Unrestricted
GENERAL FUND
Restricted by CouncU Aotlon
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
Reslrlcled by Law or Elllemar Agencres
STREET MAINTENANCE
1972ACT
EL PRADO
CDBG
CDBG-R
1911 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOSITION C
PROPOSITION A
PUBLIC SAFETY GRANTS
MEASURER
HABITAT RESTORATION
SUBREGION 1 MAINTENANCE
MEASURE A MAINTENANCE
ABALONE COVE SEWER DISTRICT
RPVTV
GINSBURG CULTURE ARTS BUILDING
DONOR RESTRICTED CONTRIBUTIONS
QUIMBY
LOW-MODERATE INCOME HOUSING
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICATION
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Suotctal
GRAND TOTAL
BALANCE
FORWARD
16,666,796.03
571,855.73
21, 121.427.96
2,985, 156.64
000
(609,458.92)
24,068.981 .63
1,364,414.15
47.202.82
22,876.36
46.305.66
0 .00
1. 773,626.35
484,927.85
102,601 .88
292 ,659.64
356.233.82
27,011 .81
1,228.205.05
1,47 4,096.05
816,502 .98
(7,109.37]
52,068.41
0.00
101 ,419.31
872.240 56
1,337,509.62
45,941 .46
584,622.13
344,353.71
7,440.11
96.52
0.00
0.00
4 ,647,840.64
470,177.03
0.00
360,595.63
16.873.860.18
57,609.637.84
DEBIT CREDIT CASH
3,698,572.74 9 ,463, 121 .87 10,902,246.90
0 ,00 0.00 571 ,855,73
3 ,051 ,203.00 204 ,998,60 23,967,632.36
340.393 ,00 44.974.79 3 ,280,575,05
565.00 0 .00 565,00
2 ,64 8,870.08 577,650.35 1,461,760.81
6 ,041 ,031 08 627,623 .7 ~ 29,282.368.97
142,602.84 73.634.26 1.453.382. 73
o.oo 0.00 47,202.82
0 .00 0.00 22.676.36
31,669,34 57 ,930.00 20,045.00
0,00 o.oo 0.00
0.00 26,847.72 1, 7 46,778.63
51,692 .50 44,946.81 491.673.54
0 ,00 o.oo 102,601 .88
59,327.91 0 .00 351 ,987 .55
71 ,766,54 0 ,00 428,000,36
0.00 0 .00 27,011 .81
44,142.14 000 1.27 2.347,19
125.000.00 38,265.00 1,560,831 .05
40.000.00 3,389.29 853,113.69
54,893.37 47,633.00 151 ,00
82 ,752.00 6,004.42 126,815.99
0 .00 o.oo 0.00
0.00 0 .00 101.419.31
1,000.00 6 ,95113 866,289,43
827.904,00 0.00 2,165,413.62
0.00 0.00 45.941.46
0.00 0.00 584.622.13
220.01 0,00 344,573.72
0.00 0 .00 7.440.11
o.oo o.oo 96.52
o.oo 0 .00 o.oo
0 .00 o.oo 0 .00
286,541 ,04 49,678.75 4,884, 702.93
4,167.00 0.00 474 344,03
0 .00 0.00 0.00
61 ,957.82 10.358,12 41.2 ,195.33
1.885,636.51 367,638.50 18,391.858.19
11,625.240.33 10.658.384, 11 56,576,494 06
Tolal Investment: 58,576,494.06
YTD INT
INVESTMENT
COARS TOTAL CASH RECEIVED
o.oo 2,200,000.00 57,609,637.84
3,003,259.67
0 .00 37,461 .37
(1,424, 116.13)
(511,578.00)
(100,707.32)
41,456 67
(41,458.67)
0.00 2 200,000,00 58,576,494 .06 37 ,461 ,37
% Change of
Change ln Cash Balance
Ending Cash from Previous
Salena> Month-End
(5.764.549.131 35%
o.oo 0%
2 ,646,204.40 13%
295,418.21 10%
565.00 0%
2,071 ,219.73 100%
5 .213,407.34 22%
68,966 .58 5%
0.00 0%
0.00 0%
(26,260.66) 57%
0.00 0%
(26,847.72) 2%
6 ,745,69 1%
0.00 0%
59 ,327,91 20%
71.766,54 20%
o.oo 0%
44.142.14 4%
86,735.00 6%
36.610.71 4%
7,260.37 100%
74,747.58 100%
0.00 0%
000 0%
(5.951.13) 1%
827,904.00 62%
0.00 0%
0.00 0%
220.01 0%
o.oo 0%
0.00 0%
0 .00 0%
0.00 0%
236,862.29 5%
4,167.00 1%
0.00 0%
51,599.70 14%
1.517,998 01 9%
966,858 22 2%
3
Issuer of
Investment Investment
Checking Accounls Bank of America
Bank of lhe
Checking Accounts Wes I
Checking Accounts Malaga Bank
Pelly Cash N/A
State or
Local Agency Investment Fund (LAIF-CITY) California
CDARS -Malaga Bank Malaga Bank
Banco Popular
de Puerto Rico-
IBC
Iberia bank
Univesl Bank
and Trusl Co.
Western
Alliance Bank
Citizens
Nalional Bank
Ever Bank
Flagstar Bank,
FSB
Parke Bank
Porsperity Bank
The Park
National Bank
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
SEPTEMBER 2015
Acquisition Maturity
Date Term Date
NIA NIA On Demand $
NIA NIA On Demand $
NIA NIA On Demand $
N/A NIA On Demand $
NIA N/A On Demand $
$
6125/2015 26 weeks 12/23/2015
6125/2015 26 weeks 12/24/2015
6/25/2015 26 weeks 12/24/2015
6/25/2015 26 weeks 12124/2015
6/25/2015 26 weeks 1212412015 $
312612015 52 weeks 3/24/2016 $
312612015 52 weeks 3/24/2016 $
3/26/2015 52 weeks 3124/2016 $
3/2612015 52 weeks 3124/2016 $
3126/2015 52 weeks 312412016
312612015 52 weeks 312412016 $
Market
Value
0
2,621,052
3,802,336
3.000
49,950, 106
250,000
244,500
216,500
244,500
244,500
243,500
230,633
243,500
243,500
11,867
27,000
Total Investment:
Par Book
Value Value
NIA $ 0
NIA $ 2,621,052
N/A $ 3,802,336
N/A $ 3,000
N/A $ 49,950,106
$
$ 250,000
$ 244,500
$ 216,500
$ 244 ,500
$ 244,500
$ 243,500
$ 230,633
$ 243,500
$ 243,500
$ 11,867
$ 27,000
$ 58,576.494
Total Investment Weighted Average Return
NOTE:
(1) See footnote on the summary page
(2) LAIF market values will be reported lo vary from book value if lhe City calculated share or total LAIF assets is less than the
City book value
To the best or 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 Cily Council Furthermore, I certify that sufficient investmenl liquidily
and anticipated revenues are available lo meal the City's expenditure requirements for the next six months.
Respeclrully submitted,
!J C,
c
Yield
000%
0.00%
0.30%
000%
0.34%
0.35%
0.25%
0,25%
0.25%
0.25%
0 35%
0 35%
0.35%
035%
035%
0 .35%
03%
4