RPVCCA_CC_SR_2014_08_05_D_Monthly_Cash_Bal_June_2014CfTYOF RANCHO PALOS VERDES
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF T~ITY COUNCIL
DENNIS MCLEAN, DIRECTOR OF FINANCE ~
AUGUST 5, 2014
JUNE 2014 MONTHLY REPORT OF CASH BALANCES
CAROLYNN PETRU, ACTING CITY MANAGE@
Staff Coordinator: Jane Lin, Accountant
RECOMMENDATION
Receive and file the June 2014 Monthly Report of Cash Balances for the City of Rancho
Palos Verdes.
BACKGROUND
With the adoption of the state budget for FY06-07, government agencies are no longer
required to submit a treasurer's report to their governing board, as defined by California
Government Code. Notwithstanding the change of California law, staff has continued to
submit a cash balance report to the Council for review each month. This report summarizes
the cash activity associated with all funds of the City.
A separate report is prepared monthly for the Improvement Authority and is presented
under separate cover before the Authority Commission. The attached report includes the
cash activities of the City for the month of June 2014.
ANALYSIS
The overall cash balances of the City totaled $56,569,305 at June 30, 2014. This
represents a $1,600,608 increase during the month. The overall increase is a result of
various factors over several individual funds of the City. 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).
D-1
June 2014 Monthly Report of Cash Balances
August 5, 2014
Page 2
Employee Benefits Fund -The cash balance in this fund decreased by more than $86,000
during the month. The most significant factor of decrease was the disbursements for the
City's share of employee insurance premiums totaling $67,858.
Gas Tax Fund -The cash balance in this fund increased by more than $135,000 during
the month. The City received its monthly Highway Users Tax payment, which typically is
one of the higher payments throughout the year. The operating expenditures were low due
to timing of the payments.
Proposition A Fund -The cash balance in this fund increased by more than $64,000 during
the month due to receipt of the June Proposition A apportionment. The Proposition A fund
pays forth~ Palos Verdes Peninsula Transit Authority contribution. Disbursements forthat
contribution are only made twice per year, typically in August and January.
Habitat Restoration Fund -The cash balance in this fund increased by more than
$300,000 during the month. The increase was due to receipt of remaining balance of
$325,000 as result of the settlement with Southern California Edison forthe 2009 fire in the
Portuguese Bend Nature Preserve. The total settlement amount is $1,936,671.59.
Measure A Maint Fund -The cash balance in this fund increased by more than $67,000
during the month. The City received a reimbursement of $67,441 from the County forthe
Measure A eligible FY13-14 park-site maintenance services in the Portuguese Bend
Nature Preserve, Lower Hesse Park, and PVIC.
Water Quality Flood Protection Fund -The cash balance in this fund increased by more
than $640,000 during the month. The City received a reimbursement of $1, 132,229 from
the State for the Proposition 1 E Stormwater Flood Management program for the San
Ramon Canyon Stabilization project for the quarter ended March 2014. Disbursements
included $349,024 to L. H. Woods & Sons, $49,620 to CBM Consulting, Inc., $37,556 to
RBF Consulting, $12,530 to KPFF Consulting Engineers, and $18,370 to Torrey Pines
Bank for San Ramon retention for the San Ramon Canyon Stabilization project. The
revenue the City received was partially offset by project disbursements.
Redevelopment Obligation Retirement Fund -The cash balance in this fund increased by
more than $161,000 during the month mainly due to receipt of $190,433 from Los Angeles
County for the Successor Agency's Redevelopment Property Tax Trust Fund distribution.
D-2
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:
CalPers -BOA
CalPers -BOW
Bank and Merchant Fees
Bank
of America
OPERATING
6,569, 705.20
930,558.91
(1,616,873.94)
(24,072.48)
38,118.75
(3,212,935.04)
2,684,501.40
21,025.87
21,246.69
3,046.61
45,319.17
Bank
of the West
OPERATING
2,000,000.00
2,727,811.21
(21,246.69)
(377.50)
(220,375.63)
4,485,811.39
CITY OF RANCHO PALOS VEROES
MONTHLY REPORT OF CASH BALANCES
JUNE 2014
BANKCARD PETTY CASH PAYROLL LAIF..CITY
0.00 2,500.00 398,159.39 44,798,333.01
0.03
3,000,000.00
0.00 2,500.00 398, 159.42 47,798,333.01
INVESTMENT
CDARS
1,200,000.00
1,200,000.00
(3) The net adjustment was due to non-sufficient check items, void checks, and deposit adjustment.
CASH BALANCES BY FUND -Unrestricted
GENERAL FUND ..
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
S®totlill .·· .. ·
Restricted bv Law or External Aaencies
GAS TAX
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
Subtotal
GRAND TOTAL
BALANCE
FORWARD
20,957 074.71
1,004,838.37
13,955,568.95
3,003,137.33
942,153.68
(1,859,997.57
17,045,700.76
361,128.59
254,841.60
21,117.45
(23,580.34
0.00
1,954, 130.52
450,482.00
72,831.88
2,135,145.01
411,943.75
120,511.19
1,209,965.41
1,843,001.41
827,192.65
(55,073.29)
81,230.18
0.00
119,103.47
864,924.01
57,832.85
12,418.00
496,911.88
413,483.78
7,440.11
89,600.08
0.00
0.00
4,468,334.08
438,372.45
0.00
332,633.41
16,965,922.13
54,968,697.60
DEBIT
1,402,446.70
0.00
100,913.92
0.00
0.00
471,613.51
572,527.43
202,857.38
0.00
7.18
22,862.00
0.00
1,824.87
42,741.91
13,408.19
53,812.04
64,870.50
0.00
39,716.37
325,000.00
0.00
67,441.00
0.00
0.00
0.00
1,500.00
0.00
11,095.00
2,774.00
0.00
0.00
5,688.00
0.00
0.00
1,132,229.15
194,599.86
0.00
8,987.00
2, 191,414.45
4, 166,388.58
Total Investment:
% Change of
Change In Cash Balance
Ending Cash from Previous
CREDIT CASH Balance Month-End
1,189,975.44 21,169,545.97 212,471.26 1%
0.00 1,004,838.37 0.00 0%
102,905.56 13,953,577.31 (1,991.64 0%
30,464.06 2,972,673.27 (30,464.06' 1%
0.00 942,153.68 0.00 0%
558,404.43 (1,946, 788.49) (86,790.92 5%
691,774.05 16,926,454.14 1119,246.62 1%
67,545.21 496,440.76 135,312.17 37%
0.00 254,841.60 0.00 0%
0.00 21,124.63 7.18 0%
39,691.25 (40,409.59) (16,829.25 71%
0.00 0.00 0.00 0%
27,040.53 1,928,914.86 (25,215.66) 1%
13,917.67 479,306.24 28,824.24 6%
0.00 86,240.07 13,408.19 18%
0.00 2,188,957.05 53,812.04 3%
389.81 476,424.44 64,480.69 16%
0.00 120,511.19 0.00 0%
0.00 1,249,681.78 39,716.37 3%
0.00 2,168,001.41 325,000.00 18%
1,627.29 825,565.36 (1,627.291 0%
0.00 12,367.71 67,441.00 100%
2,667.00 78,563.18 (2,667.001 3%
0.00 0.00 0.00 0%
0.00 119, 103.47 0.00 0%
828.84 865,595.17 671.16 0%
0.00 57,832.85 0.00 0%
0.00 23,513.00 11,095.00 89%
0.00 499,685.88 2,774.00 1%
0.00 413,483.78 0.00 0%
0.00 7,440.11 0.00 0%
0.00 95,288.08 5,688.00 6%
0.00 0.00 0.00 0%
0.00 0.00 0.00 0%
492,024.69 5, 108,538.54 640,204.46 14%
32,834.41 600, 137.90 161,765.45 37%
0.00 0.00 0.00 0%
5,464.77 336,155.64 3,522.23 1%
684,031.47 18,473,305.11 1,507,382.98 9%
2,565,780.96 56,569,305.22 1,600,607.62 3%
56,569,305.22
TREASURIES
TREAS DIRECT TOTAL CASH
0.00 54,968,697.60
3,658,370.12
0.00
(1,616,873.94)
(45,319.17)
37,741.28
3,000,000.00
(3,433,310.67)
0.00 56,569,305.22
YTD INT
RECEIVED
56,054.46
56,054.46
D-3
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
JUNE 2014
Issuer of Acquisition Maturity Market Par Book
Investment Investment Date Term Date Value Value Value
Checking Accounts Bank of America NIA NIA On Demand $ 3,085,161 NIA $ 3,085, 161
Bank of the
Checking Accounts West NIA NIA On Demand $ 4,485,811 NIA $ 4,485,811
State of
Local Agency Investment Fund (LAIF) California NIA NIA On Demand $ 47,798,333 NIA $ 47,798,333
CDARS • Malaga Bank Malaga Bank 1212612013 26weeks 1212312014 250,000 $ 250,000
Century Bank &
Trust Company 1212612013 26 weeks 1212312014 244,500 $ 244,500
Ever Bank 1212612013 26weeks 1212312014 244,500 $ 244,500
First Foundation
Bank 1212612013 26weeks 1212312014 105,945 $ 105,945
Meridian Bnak 1212612013 26weeks 1212312014 $ 110,555 $ 110,555
Western
Alliance Bank 1212612013 26weeks 1212312014 $ 244,500 $ 244,500
Total Investment: $ 56,569,305
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.
Yield
0.00%
0.00%
0.23%
0.35%
0.25%
0.25%
0.25%
0.25%
0.25%
0.2%
Dated
D-4