RPVCCA_CC_SR_2014_11_04_D_CC_Monthly_Cash_BalancesCnYOF
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF T~CITY COUNCIL
DENNIS MCLEAN, DIRECTOR OF FINANCE~
NOVEMBER 4, 2014
SEPTEMBER 2014 MONTHLY REPORT OF CASH BALANCES
CAROLYNN PETRU, ACTING CITY MANAGER@.)
Staff Coordinator: Jane Lin, Accountant
RECOMMENDATION
Receive and file the September 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 September 2014.
ANALYSIS
The overall cash balances of the City totaled $53,526,789 at September 30, 2014. This
represents a $658,640 decrease during the month. The overall decrease 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
September 2014 Monthly Report of Cash Balances
November 4, 2014
Page 2
Employee Benefits Fund -The cash balance in this fund decreased by more than
$123, 000 during the month. The most significant factor of decrease was the disbursements
for the City's share of employee insurance premiums totaling $67,575.
CDBG Fund -The cash balance in this fund increased by more than $66,000. Because
CDBG cash receipts result from reimbursements of prior months' expenditures, it is
common to have a timing difference between cash receipts and expenditures for any given
month. The City received reimbursements from the Los Angeles County Community
Development Commission in September.
Proposition A Fund -The cash balance in this fund increased by more than $68,000 during
the month due to receipt of the September Proposition A apportionment. The Proposition A
fund pays for the Palos Verdes Peninsula Transit Authority contribution. Disbursements for
that contribution are only made twice per year, typically in August and January.
Measure A Maint Fund -The cash balance in this fund increased by more than $76,000
during the month. The City received a reimbursement of $76, 194 from the County for the
Measure A eligible FY13-14 park-site maintenance services in the Portuguese Bend
Nature Preserve and Lower Hesse Park.
Affordable Housing In Lieu Fund -The cash balance in this fund increased by more than
$81,000 during the month. The City received proceed of $81,413 from sale of the property
located at 28121 Highridge Road, Unit#208 which the City acquired this piece of property
in June 2009.
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $702,000 during the month mainly due to a large disbursement of $587,038 to L. H.
Woods & Sons for the San Ramon Canyon Stabilization project. Other disbursements
including $10,075 to Harris & Associates, $25,437 to KOA Corporation, $5,309 to
Performance Pipeline Tech, $5,275 to KPFF Consulting Engineers, $4, 167 to Ninyo &
Moore Geotechnical, and $3,710 to SFC Communication were also for the San Ramon
Canyon Stabilization project.
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:
Cal Pers
ICMA&HSA
Postage
Bank and Merchant Fees
Bank
of America
OPERATING
1,514,971.46
244,627.42
(3,337.60)
1, 756,261.28
BOA
3,337.60
3,337.60
Bank
of the West
OPERATING
1,644,897.53
2,015,088.22
(2,413,881.61)
(136,268.12)
5,870.47
(370, 738.36)
744,968.13
BOW
89,071.98
44,391.04
2,500.00
305.10
136,268.12
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
SEPTEMBER 2014
BANKCARD PETTY CASH PAYROLL LAIF-CITY
0.00 2,500.00 0.00 49,823,059.63
0.00 2,500.00 0.00 49,823,059.63
INVESTMENT TREASURIES
CDARS TREAS DIRECT TOTAL CASH
1,200,000.00 0.00 54,185,428.62
2,259, 715.64
0.00
(2,413,881.61)
(139,605.72)
5,870.47
0.00
(370, 738.36)
1,200,000.00 0.00 53,526,789.04
(3) The net adjustment was due to void checks, returned items, and deposit adjustment.
CASH BALANCES BY FUND
Unrestricted
GENERA(: f(Jj(j[) .
Restricted bv Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subfota1:··.·····
Restricted by Law or External Agencies
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
BALANCE
FORWARD
·.· . •15l$1!582;?;;;s
793,920.73
17,720,114.23
2,783,857.15
942,609.02
(203,622.00)
22i035;879;t3
1,315, 703. 7 4
63,212.55
21,245.93
(66,600.09)
0.00
1, 7 45,518.31
385,859.59
86,277.22
1,414,639.64
558,281.00
20,569.81
1,322,684.85
1,409, 788.39
819,253.03
(55,073.29
66,993.01
0.00
119,161.31
871,214.83
57,861.41
23,520.46
499,927.93
413,684.09
7,440.11
71.52
0.00
0.00
4,414,425.81
REDEVELOPMENT OBLIGATION RETIRE 535,572.47
IMPROVEMENT DISTRICT 9 0.00
SPECIAL TRUSTS 411,488.50
Subtotal 16,462,722.13
GRAND TOTAL 54,18$,428.62
DEBIT
..... ///·•· ····· :·•. 427'1j63Uia '
0.00
0.00
0.00
0.00
448,069.28 .......................... : . ._ ·:: :• :44&Hl69:28:· ._.
184,637.93
0.00
0.00
68,672.00
0.00
0.00
44,280.69
13,567.46
56,944.06
68,611.28
0.00
42,470.04
0.00
0.00
76,193.92
614.51
0.00
0.00
1,500.00
0.00
0.00
81,413.20
3,616.00
0.00
0.00
0.00
0.00
14,799.47
4,167.00
0.00
47,309.44
708,797.00
5 428,497.96
Total Investment:
% Change of
Change In Cash Balance
Ending Cash from Previous
CREDIT CASH Balance Month-End
4;22o;s1a:94i t5 7S6;94!MO ///:5ttr2:z:4: ·······•//()%
0.00 793,920.73 0.00 0%
204,359.28 17,515,754.95 1204,359.28 1%
14,978.55 2, 768,878.60 (14,978.55 1%
0.00 942,609.02 0.00 0%
571,817.75 (327,370.47) (123,748.47 61%
.·· 791,1035:56 21;swJ92~a3 ::•:::••:i~:Oa&;so1 2%:
214,671.44 1,285,670.23 130,033.51) 2%
550.00 62,662.55 (550.00) 1%
0.00 21,245.93 0.00 0%
2,071.25 0.66 66,600.75 100%
0.00 0.00 0.00 0%
59,419.06 1,686,099.25 (59,419.06) 3%
28,996.33 401,143.95 15,284.36 4%
0.00 99,844.68 13,567.46 16%
0.00 1,471,583. 70 56,944.06 4%
0.00 626,892.28 68,611.28 12%
0.00 20,569.81 0.00 0%
0.00 1,365, 154.89 42,470.04 3%
0.00 1,409, 788.39 0.00 0%
4,036.12 815,216.91 (4,036.12) 0%
0.00 21,120.63 76,193.92 100%
25,429.07 42,178.45 (24,814.56) 37%
0.00 0.00 0.00 0%
0.00 119,161.31 0.00 0%
975.22 871,739.61 524.78 0%
0.00 57,861.41 0.00 0%
0.00 23,520.46 0.00 0%
0.00 581,341.13 81,413.20 16%
500.00 416,800.09 3,116.00 1%
0.00 7,440.11 0.00 0%
0.00 71.52 0.00 0%
0.00 0.00 0.00 0%
0.00 0.00 0.00 0%
717,714.40 3, 711,510.88 1702,914.93) 16%
280.50 539,458.97 3,886.50 1%
0.00 0.00 0.00 0%
20,819.63 437,978.31 26,489.81 6%
1,075,463.02 16,096,056.11 1366;66El.02 2%
6087,137.54 53,526,789.04 (658,639.58 1%
53,526, 789.04
YTDINT
RECEIVED
24,726.62
24,726.62
D-3
CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
SEPTEMBER 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 $ 1,758,761 NIA $ 1,758,761
Bank of the
Checking Accounts West NIA NIA On Demand $ 744,968 NIA $ 744,968
State of
Local Agency Investment Fund (LAIF) California NIA NIA On Demand $ 49,823,060 NIA $ 49,823,060
CDARS -Malaga Bank Malaga Bank 1212612013 26weeks 1212312014 250,000 $ 250,000
Century Bank &
Trust Company 1212612013 26weeks 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: $ 53,526, 789
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.
Treasurer
Yield
0.00%
0.00%
0.25%
0.35%
0.25%
0.25%
0.25%
0.25%
0.25%
0.2%
Dated
D-4