RPVCCA_CC_SR_2014_12_02_E_City_Monthly_Cash_BalancesCITY OF Rt\NCHO PALOS VERDES
MEMORANDUM
TO:
FROM:
DATE:
SUBJECT:
REVIEWED:
HONORABLE MAYOR AND MEMBERS OF T ~ITY COUNCIL
DENNIS MCLEAN, DIRECTOR OF FINANCE ~
DECEMBER 2, 2014
OCTOBER 2014 MONTHLY REPORT OF CASH BALANCES
CAROLYNN PETRU, ACTING CITY MANAGE @
Staff Coordinator: Jane Lin, Accountant
RECOMMENDATION
Receive and file the October 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 October 2014.
ANALYSIS
The overall cash balances of the City totaled $52,027,261 at October 31, 2014. This
represents a $1,499,528 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).
E-1
October 2014 Monthly Report of Cash Balances
December 2, 2014
Page 2
CIP Fund -The cash balance in this fund decreased by more than $924,000 during the
month mainly due to a large disbursement of $565,744 to Kasa Construction for the
Abalone Cove Parking Lot Improvement project. Other disbursements including $188,784
to Tobo Construction for the Ryan Park Entrance Improvement project, $80,984 to
Anderson Penna Partners for the City's Residential Street Rehabilitation project, and
$44,825 to Ochoa's Custom Construction for the Cable TV Building Restroom
Improvement project.
Emolovee Benefits Fund -The cash balance in this fund decreased by more than
$275,000 during the month. The most significant factor of decrease was due to the FY14-
15 payment of $152,374 to CalJPIA forthe City's Worker's Compensation Insurance. The
other factor of decrease was the disbursements for the City's share of employee insurance
premiums totaling $65,682.
Proposition A Fund -The cash balance in this fund decreased by more than $235,000
during the month due to the disbursement of the City's contribution of $284,911 to the
Palos Verdes Transit Authority for the six months ending December 2014. The Proposition
A fund pays for the Palos Verdes Peninsula Transit Authority contribution. Disbursements
for that contribution are made twice per year.
Water Quality Flood Protection Fund -The cash balance in this fund decreased by more
than $182,000 during the month mainly due to disbursements of $71, 109 to Performance
Pipeline Technology, $72,613 to RBF Consulting, and $22,710 to KOA Corporation forthe
San Ramon Canyon Stabilization project.
E-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:
Payroll
Cal Pers
ICMA&HSA
RHS Withholdings
Postage
Bank and Merchant Fees
Sales Tax -PVIC Gift Shop
Bank
of America
OPERATING
1,756,261 .28
86,191 ,17
(5,752 .39)
(1,511 ,779.98)
324,920.08
BOA
5,752 .39
5,752 .39
Bank
of the West
OPERATING
744,968.13
1,324,857 28
(2 ,443,488.06)
(493,037,98)
1,450 00
3,511,779.98
2 ,646.529.30
BOW
364,294.20
86,852,23
27,972 30
8,912 07
2,500.00
174.18
2,333.00
493,037.98
(3) The net adjustment was due to void checks and other 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
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 L IEU
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
15.736;940.10
793,920.73
17,515,754.95
2, 768,878,60
942.609.02
1327 ,370.47)
21.693, 792.83
1,285,670.23
62,662.55
21 ,245.93
0.66
0.00
1,686,099 25
401 ,143.95
99,844.68
1,471 ,583.70
626.892.28
20,569.81
1,365.154,89
1,409,788.39
815,216.91
21,120.63
42 178.45
0.00
119,161 ,31
871.739,61
57,861.41
23,520.46
581 ,341 .13
416,800.09
7.440.11
71 ,52
0.00
000
3,711 ,510.88
539,458.97
0.00
437,978,31
18!096,0_56.11 1
53 528 789. 04
CITY OF RANCHO PALOS VERDES
MONTHLY REPORT OF CASH BALANCES
OCTOBER 2014
BANKCARD PETTY CASH PAYROLL
0.00 2,500.00 0.00
0.00 2.S00.00 0.00
DEBIT CREDIT CASH
t.800'.657 .57 1 -:892.675 .~ 15,74(),92:?.01
483.00 0.00 794,403.73
8,491 .00 932,864.27 16,591,381 .68
1.540_00 43,743.82 2,726,674 .78
508.00 0.00 943,117.02
434.308.39 710,236 81 (603,298.89
445,330.39 1,686,844,90 20,452,278,32
128.822.77 90,735.85 1.323 757 .15
85.00 0.00 62.747 .55
12_00 0.00 21 ,257.93
28,430 ,00 720.00 27.710.66
0,00 0.00 0.09
97400 28,412 96 1,658.660.29
11.168.67 10,3f2.75 401 ,999.87
48.00 25,000.00 74,892.68
42 ,890.48 0.00 1,514,474.18
50,123.52 285,302.37 391 ,713.43
14,038.25 000 34,608.06
31,676.34 0.00 1,396,831 ,23
957.00 1.370.00 1.409.375.39
44200 4,378.53 811 ,280.38
47 ,635.00 0.00 68 755.63
36.00 3,745.81 38,466.64
0.00 0.00 0.00
64.00 0.00 119,225.31
3,468.00 0.00 875,207.61
31 .00 0.00 57 ,892.41
12.00 0.00 23,532.46
276.00 24 .86 581 .592-<!7
3,840.00 0.00 420.640.09
000 0.00 7.440.11
25_00 0.00 96.52
0.00 000 000
o.oo 0.00 0.00
6,315.54 188,440 86 3,529,385 56
4,461 .00 28050 543.639.47
0.00 0.00 0.00
12,881 .50 11.984.00 438,875.81
388,713.07 650,70849 16'834,060.69
2. 730. 701 .03 ll,2'30,229,05-52,027 2jll .02
Total Investment: 52,027,261 .02
LAIF-CITY
49,823,059.63
30,251 96
(2,000,000.00)
47 ,853,311 .59
Change In
Ending Cash
Balance
s 1sa:1 ,e1
483.00
(924,373.27
(42,203.62)
508.00
(275,928.42
(1,2:41;514 .51
38,086.92
85,00
12.00
27.710.00
0.00
127,438.96
855.92
(24 ,952.00
42,890.48
(235,178.85)
14,038.25
31 ,676,34
(413.00
(3,936,53)
47 .635.00
(3,709.81)
0.00
64.00
3,468.00
31 .00
12 00
251 .14
3,840.00
0.00
25.00
0,00
0.00
(182.125.32
4,180.50
0.00
897 .50
(261 ;995.42
<-1 .499,528.02
INVESTMENT
CDARS
1,200,000.00
1,200,000.00
% Change of
Cash Balance
from Previous
Month-End
0%
0%
5%
2%
0%
84%
6%
3%
0%
0%
100%
0%
2%
0%
25%
3%
38%
68%
2%
0%
0%
100%
9%
0%
0%
0%
0%
0%
0%
1%
0%
35%
0%
0%
5%
1%
0%
0%
2%
3%
YTD INT
TREASURIES
TREAS DIRECT TOTAL CASH RECEIVED
0.00 53,526,789.04
1,411,048.45
30,251 ,96 54,978.58
(2,443,488.06)
( 498, 790.37)
1,450,00
3,511, 779.98
(3.511 ,779.98)
0.00 52,027 ,261 .02 54,978.58
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CITY OF RANCHO PALOS VERDES
SUMMARY MONTHLY REPORT OF CASH BALANCES
OCTOBER 2014
Issuer of Acquisition Maturity M111<et Par Book
Investment Investment Date Term Date Value Value Value
Checking Accounts Bank of America NIA NIA On Demand $ 327,420 NIA $ 327,420
Bank of the
Checking Accounts West NIA NIA On Demand $ 2,646,529 NIA $ 2,646,529
State of
Local Agency Investment Fund (LAIF) California NIA NIA On Demand $ 47 ,653,312 NIA $ 47,653,312
CDARS -Malaga Bank Malaga Bank 1212612013 26 weeks 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 12/26/2013 26weeks 1212312014 105,945 $ 105,945
Meridian Bnak 1212612013 26 weeks 12/2312014 $ 110,555 $ 110,555
Western
Alliance Bank 1212612013 26weeks 1212312014 $ 244,500 $ 244,500
Total Investment: $ 52,027,261
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 Iha
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
000%
000%
0.26%
0.35%
0,25%
0.25%
0.25%
0.25%
0.25%
0.2%
Dated
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