CC SR 20151201 F - Council Monthly Cash BalancesCITY OF RANCHO PALOS VERDES
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR & CITY COUNCIL MEMBERS
DEBORAH CULLEN, DIRECTOR OF FINANC~
DECEMBER 1, 2015
OCTOBER 2015 MONTHLY REPORT OF CASH BALANCES
DOUG WILLMORE, CITY MANAGER~
Project Manager: Jane Lin, Accountant
RECOMMENDATION
Receive and file the October 2015 Monthly Report of Cash Balances for the City of
Rancho Palos Verdes.
BACKGROUND
This report summarizes the cash activity associated with all funds of the City for the
month of October 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 $58,026,674 at October 31, 2015. Cash
decreased by $549,820 during the month. Compared to the same period last year, the
cash balance decreased by $1,500,000. The major variance to last year was due to the
timing of disbursements in the various funds, which included CIP Funds, Proposition A
Fund, and Water Quality Flood Protection Fund. 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). The sum of two Funds which will be discussed below
decreased by $67,000. The remaining amount of $482,820 in decrease was contributed
by various funds, which were within the threshold.
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October 2015 Monthly Report of Cash Balances
December 1, 2015
Page 2
Employee Benefits Fund -The cash balance in this fund decreased by more than
$119,000 during the month. The most significant factor of decrease was the
disbursements for the City's share of employee insurance premiums totaling $83,985.
Proposition A Fund -The cash balance in this fund increased by more than $52,000
during the month due to receipt of the October Proposition A apportionment. The
Proposition A fund pays for the Palos Verdes Peninsula Transit Authority contribution.
Disbursements for that contribution are made twice annually.
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BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Payroll
Cal Pers
ICMA&HSA
Retirement Health Savings Withholdings
UUT Refund
Sales Taxes
Flexible Spending Accounts
Bank and Merchant Fees
Bank Bank
of America of the West
OPERATING OPERATING
0.00 2,621,051. 73
1,330,029.80
(1,383, 156.62)
(538,916.94)
(559.63)
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
OCTOBER 2015
Malaga
Bank
OPERATING
3,802,336.06
2,565.08
PETTY CASH LAIF-CITY
3,000.00 49,950, 106.27
40,218.15
0.00 2,028,448.34 3,804,901.14 3,000.00 49,990,324.42
BOA BOW
402,462.28
70,179.47
25,422.72
10,006.45
24,731.40
2,390.00
852.52
2,872.10
538,916.94
(3) The net adjustment was due to void checks, return item, and other deposit adjustment.
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
Restricted by Law or External Agencies
STREET MAINTENANCE
1972 ACT
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
Subtotal
GRAND TOTAL
BALANCE
FORWARD
10,902,246.90
571,855.73
23,967,632.38
3,280,575.05
565.00
1,461,760.81
29,282,388.97
1,453,382.73
47,202.82
22,876.36
20,045.00
0.00
1,746,778.63
491,673.54
102,601.88
351,987.55
428,000.36
27,011.81
1,272,347.19
1,560,831.05
853,113.69
151.00
126,815.99
0.00
101,419.31
866,289.43
2,165,413.62
45,941.46
584,622.13
344,573.72
7,440.11
96.52
0.00
0.00
4,884,702.93
474,344.03
0.00
412,195.33
18,391,858.19
58,576,494.06
DEBIT CREDIT CASH
1,077,118.89 1,440,990.74 10,538,375.05
444.00 0.00 572,299.73
12,978.00 109,272.67 23,871,337. 71
2,232.00 31,652.97 3,251, 154.08
334.00 0.00 899.00
719,505.66 839,419.20 1,341,847.27
735,493.66 980,344.84 29,037,537.79
76,731.92 113,510.30 1,416,604.35
58.00 1,750.00 45,510.82
17.00 0.00 22,893.36
0.00 14,520.00 5,525.00
0.00 0.00 0.00
1,313.00 28, 161.04 1,719,930.59
10,906.46 7,599.05 494,980.95
69.00 0.00 102,670.88
45,015.85 0.00 397,003.40
52,908.86 389.82 480,519.40
32, 113.49 0.00 59, 125.30
33,832.64 0.00 1,306, 179.83
1,098.00 0.00 1,561,929.05
602.00 4, 187.42 849,528.27
88.00 7,440.11 (7,201.11)
49.00 11,280.11 115,584.88
0.00 0.00 0.00
74.00 0.00 101,493.31
7,304.92 0.00 873,594.35
1,081.00 0.00 2, 166,494.62
34.00 0.00 45,975.46
427.00 0.00 585,049.13
3,963.00 0.00 348,536.72
0.00 0.00 7,440.11
0.00 0.00 96.52
0.00 0.00 0.00
0.00 0.00 0.00
4,485.68 13,391.26 4,875,797.35
4,511.00 1,569.87 477,285.16
0.00 0.00 0.00
17,194.87 31,176.84 398,213.36
293,878.69 234,975.82 18,450,761.06
2, 106,491.24 2,656,311.40 58,026,673 90
Total Investment: 58,026,673.90
YTD INT
INVESTMENT
CDARS TOTAL CASH RECEIVED
0.00 2,200,000.00 58,576,494.06
1,330,029.80
42,783.23 80,244.60
(1,383, 156.62)
(538,916.94)
(559.63)
0.00
0.00
0.00 2,200,000.00 58,026,673.90 80,244.60
% Change of
Change In Cash Balance
Ending Cash from Previous
Balance Month-End
(383,871.85) 3%
444.00 0%
(96,294.67) 0%
(29,420.97) 1%
334.00 59%
(119,913.54) 8%
(244,851.18) 1%
(36,778.38) 3%
(1,692.00) 4%
17.00 0%
(14,520.00) 72%
0.00 0%
(26,848.04) 2%
3,307.41 1%
69.00 0%
45,015.85 13%
52,519.04 12%
32,113.49 100%
33,832.64 3%
1,098.00 0%
(3,585.42) 0%
(7,352.11) 100%
(11,231.11) 9%
0.00 0%
74.00 0%
7,304.92 1%
1,081.00 0%
34.00 0%
427.00 0%
3,963.00 1%
0.00 0%
0.00 0%
0.00 0%
0.00 0%
(8,905.58) 0%
2,941.13 1%
0.00 0%
(13,981.97) 3%
58,902.87 0%
(549,820.16 1%
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
OCTOBER 2015
Issuer of Acquisition Maturity Market Par Book
Investment Investment Date Term Date Value Value Value
Checking Accounts Bank of America NIA NIA On Demand $ 0 NIA $ 0
Bank of the
Checking Accounts West NIA NIA On Demand $ 2,028,448 NIA $ 2,028,448
Checking Accounts Malaga Bank NIA NIA On Demand $ 3,804,901 NIA $ 3,804,901
Petty Cash N/A NIA NIA On Demand $ 3,000 NIA $ 3,000
State of
Local Agency Investment Fund (LAIF-CITY) California N/A NIA On Demand $ 49,990,324 N/A $ 49,990,324
$ $
CDARS -Malaga Bank Malaga Bank 6/25/2015 26 weeks 12/2312015 250,000 $ 250,000
Banco Popular
de Puerto Rico-
IBC 6125/2015 26weeks 12/24/2015 244,500 $ 244,500
lberiabank 6/25/2015 26 weeks 12/24/2015 216,500 $ 216,500
Univest Bank
and Trust Co. 6/25/2015 26 weeks 12/24/2015 244,500 $ 244,500
Western
Alliance Bank 6/25/2015 26 weeks 1212412015 $ 244,500 $ 244,500
Citizens
National Bank 3/26/2015 52 weeks 312412016 $ 243,500 $ 243,500
Ever Bank 3/2612015 52 weeks 3/24/2016 $ 230,633 $ 230,633
Flagstar Bank,
FSB 3/2612015 52 weeks 3/24/2016 $ 243,500 $ 243,500
Parke Bank 3/26/2015 52 weeks 3124/2016 $ 243,500 $ 243,500
Porsperity Bank 3/26/2015 52 weeks 3/24/2016 11,867 $ 11,867
The Park
National Bank 3/26/2015 52 weeks 3/24/2016 $ 27,000 $ 27,000
Total Investment: $ 58,026,674
Total Investment Weighted Average Return
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.
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,
t:?i!£~9 01 ~
Yield
0.00%
0.00%
0.30%
0.00%
0.36%
0.35%
0.25%
0.25%
0.25%
0.25%
0.35%
0.35%
0.35%
0.35%
0.35%
0.35%
0.3%
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