CC SR 20180501 F - March 2018 Treasurer Report - CityRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 05/01/2018
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the March 2018 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the March 2018 Cash Balances/Monthly Treasurer’s Report.
FISCAL IMPACT: None
Amount Budgeted: N/A
Additional Appropriation: N/A
Account Number(s): N/A
ORIGINATED BY: Jane Lin, Accountant
REVIEWED BY: Deborah Cullen, Director of Finance
APPROVED BY: Doug Willmore, City Manager
ATTACHED SUPPORTING DOCUMENTS:
A. Monthly Treasurer’s Report (page A-1)
BACKGROUND AND DISCUSSION:
This report summarizes the cash balance of all funds and investments for the month of
March 2018. A separate report is prepared monthly for the Improvement Authority, and
is presented under separate cover before the Authority Commission.
The overall cash balances of the City totaled $61,486,475, with more than $27.2 million
or 44% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $5.3 million or 9% of the total cash balance with Bank of the West, and over $4
million or 7% with Malaga Bank. In addition, the City has total Certificates of Deposit
(CD) investments of over $24.7 million or 40% of the total cash balance. The securities
are held by the Bank of New York and are FDIC insured.
In summary, the City’s General Fund has over $16 million or 28% in cash balance, and
the Capital Improvement Projects (CIP) Fund has over $23 million or 39% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.5 million or 4%, over $2 million or 3% in the 1911 Act Fund, over $1.1 million or
2% in the Habitat Restoration Fund, over $1.4 million or 2% in the Quimby Fund, over
1
$1.4 million or 2% in the Water Quality Fund, and over $12 million or 20% in Other
Restricted Funds.
The City’s cash balance decreased by $31,307 from last month, and in comparison to
the same period last year, the cash balance decreased by $99,132. The major
variances include disbursements from the General Fund, Capital Improvement Fund,
Prop C Fund, Quimby Fund, and Water Quality Flood Protection Fund. The major
disbursements included Sully-Miller Contracting Company and American Asphalt South
for the Residential Street Rehabilitation Project, Hardy & Harper for the Palos Verdes
Drive South Landslide Road Repair Project, Pub Construction for the Hesse Park
Improvement Project, and Colich & Son, LP for the Storm Drain Deficiency
Improvement Project. All other operating expenditures were disbursed in accordance
with the FY17-18 budget.
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
Payroll Charges
Flexible Spending Accounts
HSAPremium
Postage
Bank and Merchant Fees
Blink
oftheWe•t
OPERATING
8 ,932,175.51
2,366,132.48
(1 '790,210.6 7)
(604,484.29)
(9,801 .02)
(3,500,000.00)
5,393,812.01
359,094.36
229,453.43
2,445.88
4,250.00
2 ,500.00
6,740.62
604,484.29
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2018
Mologa
Blink
OPERATING
0 .00
0 .00
PETTY CASH
3,000.00
3,000.00
(3) The net adjustment was due to void checl<s, non-sufficient check and deposit adjustment.
LAIF-GITY
23,726,499.10
3,500,000.00
27,226,499.10
Molago
Bank
CD
4 ,081 ,082. 72
7,059.07
INVESTMENT
CD
24,775,021 .78
TOTAL CASH
61,517,779.1 1
2,366,132.48
7 ,059.07
(1 ,790,210.67)
(604,484.29)
(9,801 .02)
3,500,000.00
(3,500,000.00)
4 ,088,141.79 24,775,021.78 61,486,474.68
YTD INT
RECEIVED
274,662.81
274,662.81
MARCH 2018 CASH BALANCE BY MAJOR FUNDS
• GENERAL FUND
•CIP
• EQUIPMENT REPLACEMENT
•1911 ACT
HABITAT RESTORATION
•QUIMBY
• WATER QUALITY FLOOD PROTECTION
• OTHER RESTRICTED FUNDS
A-1
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
1972ACT
ELPRADO
CDBG
CDBG-R
1911 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOSITION C
PROPOSITION A
PUBLIC SAFETY GRANTS
MEASURER
MEASURE M
HABITAT RESTORATION
SUBREGION 1 MAINTENANCE
MEASURE A MAINTENANCE
ABALONE COVE SEWER DISTRICT
RPVTV
GINSBURG CULTURE ARTS BUILDING
DONOR RESTRICTED CONTRIBUTION
FEDERAL GRANTS
QUIMBY
LOW-MODERATE INCOME HOUSING
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICATION
WATER QUALITY FLOOD PROTECTIO
REDEVELOPMENT OBLIGATION RETIF
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRANO TOTAL
BALANCE
FORWARD
17,629,570.80
465,935.85
23 ,1 17,449.40
2,475,543.85
0 .00
(776 .90
26,058,152.20
(66,314 .69
27,095.96
28,869 .29
(19,604.31
0.00
2,089,959.19
426,000 .96
73,447.66
768,916.28
2,221,861 .34
141,523.51
2 ,256,208.62
134,759.72
1,104,936 .67
778 ,199.18
112,663.74
246,258.67
0 .00
86,602.86
898,679.84
1,053,073.00
1,554,190.57
151 ,072 .31
595,380.01
376,003 .62
0 .00
(25,100.97)
0 .00
0 .00
1,802,373.32
439,728.80
0 .00
573,270.96
17,830,056.1 1
61 ,517,779.11
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2018
DEBIT CREDIT CASH
8 ,278,347.40 8,925,100.99 16,982,817.21
0 .00 0.00 465,935 .85
1,399 ,008.79 667 ,1 33 .06 23,849 ,325.13
75,839 .65 918.51 2,550,464.99
0 .00 0.00 0 .00
0 .00 0.00 (776.90
1,474,848.44 668,051 .57 26,864,949.07
148,542.56 92,899.76 . (1 0,671.89)_
0 .00 0.00 27,095.96
8 .82 0.00 28,878 .11
23,800.00 42,120.70 (37,925.01
0 .00 0.00 0 .00
2,286.12 51 ,389 .20 2 ,040 ,856.11
71,455.34 50,731 .17 446,725 .13
12,747.12 0.00 86 ,194.78
60,126.27 123,043.90 705,998.65
72,422.95 15,052 .01 2,279,232.28
0.00 3 5,000 .00 106,523.51
92,525.44 0.00 2,348 ,734.06
108,612.70 15,112.83 228,259 .59
0 .00 0 .00 1,1 04,936 .67
10,375.00 892.95 787,681 .23
0 .00 22,500.00 90,163.74
52,000 .00 9,383.59 288,875.08
0 .00 0 .00 0 .00
0 .00 0.00 86 ,602.86
1,500.00 4,583.55 895,596.29
0.00 0.00 1,053,073.00
0 .00 71,073.78 1,483,116.79
0 .00 0.00 151 ,072.31
0 .00 0.00 595,380.01
13,657.00 0.00 389 ,660.62
0.00 0.00 0.00
0 .00 7,678.66 (32,779.631
0.00 0.00 0.00
0 .00 0.00 0 .00
0.00 401 ,568 .27 1.400,805.05
0 .00 28,711 .58 411 ,017.22
0.00 0.00 0.00
132,669.52 22,334 .60 683 ,605.88
802,728.84 994,076.55 17,638,708.40
10,555,924.68 10,587,229.11 61 ,486,474.68
Total Investment: 61,486,474.68
Change In
Ending Cash
Balance
(646,753.59
0.00
731 ,875.73
74,921 .14
0.00
0.00
806,796.87
55,642.80
0.00
8.82
(18,320.70)
0.00
(49,103.08)
20,724.17
12,747.12
(62,917.63)
57,370.94
_(35 ,000.001
92,525.44
93,499.87
0.00
9 ,482.05
(22,500.00
42,616.41
0.00
0.00
(3,083.55
0.00
(71 ,073.78
0.00
0.00
13,657.00
0.00
_{_7 ,678.66
0.00
0.00
(401 ,568.27
(28,711 .58)
0.00
110,334.92
(191,347.71
(31 ,304.43
Change In
Ending Cash
Balance in %
-4%
0%
3%
3%
0%
0%
3%
-84%
0%
0%
93%
0%
-2%
5%
17%
-8%
3%
-25%
4%
69%
0%
1%
-20%
17%
0%
0%
0%
0%
-5%
0%
0%
4 %
0%
31%
0%
0%
-22%
-7%
0%
19%
-1%
0%
A-2
Investment
Checking Accounts
Checking Accounts
Issuer of
Investment
Bank of the West
Malaga Bank
Petty Cash NIA
Local Agency Investment Fund (LAIF-CITY) State of Califorma
CD
CD
CD -Bank of New York (Vining Sparl<s)
Malaga Bank
Malaga Bank
Citizens Sate Bank
First Bank Puerto
Rico
MB Financial Bank
United Bankers Bank
Comenlty Cap1tal
Bank
Medall1on Bank Utah
TCF National Bank
Israel D1scount Bank
of NY
Goldman Sachs
Bank USA
Capital One Bank
USA
Wells Farg o Bank
Safra National Bank
Investors Bank/Short
Hills
Ally Bank
Marlin Business
Bank
Key Bank
BMW Bank North
America
Pacific Continental
Bank
Triad Bank
Pacific Premier Bank
Community Bank
Chesapeake
Franklin Synergy
Bank
Firstrust Saving
Bank
Farm Bureau Bank
Capstone Bank
Cap1tal Bank Little
Rock
Discover Bank
Celt1c Bank
Abacus Federal
Savings Bank
Tab Bank Inc
Luana Savings Bank
Wex Bank
Communiy Finl
SVCS Bank
First W estern Bank
S ignature Bank of
Arkansas
Queens borough
National Bank
Carroll County State
Bank Iow a
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2018
Acquisition
Date
NIA
NIA
NIA
NIA
212312018
212312018
4129/2016
4/29/2016
4/29/2016
5/2/2016
5/212016
5/312016
5/4/2016
5/4/2016
5/4/2016
51412016
5/4/2016
5/4/2016
5/512016
515/2016
5/612016
5/11/2016
5127/2016
513 112016
6/2/2016
613/2016
61812016
6/1012016
6/10/2016
611512016
6/15/2016
6/22/2016
6/8/2016
6/15/2016
6120/2016
71 112016
7181201 6
718/2016
7/12/2016
711512016
7/15/2016
8 /10120 16
8/121201 6
Term
NIA
NIA
N/A
NIA
24 Mos
24 Mos
18Mos
18 Mos
30 Mos
30Mos
36 Mos
30 Mos
18 Mos
24 Mos
36 Mos
36 Mos
36 Mos
18 Mos
24 Mos
30 Mos
24 Mos
24 Mos
36 Mos
36 Mos
46Mos
18 Mos
18 Mos
18 Mos
24 Mos
24 Mos
36 Mos
39 Mos
36 Mos
36 Mos
39 Mos
15 Mos
48 Mos
24 Mos
-36 Mos
36 Mos
48Mos
2 4 Mos
36 Mos
Maturity
Date
On Demand
On Demand
On Demand
On Demand
2/23/2020
2/23/2020
10/30/2017
1013012017
1012912018
10129/2018
512/2019
111512018
11/6/2017
514/2018
51612019
51612019
5/612019
11/6/2017
514/2018
1115/2018
51712018
5/1112018
5128/2019
5/31/2019
4/2/2020
1215/2017
121812017
1211112017
6/11/2018
611512018
6114/2019
9/23/2019
6/10/2019
6/1 4/2019
9117/2019
101212017
71812 020
7/8/2018
7/12/2019
7/1512019
7/15/2020
811012018
8/12/2019
$
$
Marilet
Value
5 .393,812
$ 3 .000
$ 27.226,499
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250.000
3 .838,142
250.000
250.000
250.000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250.000
250,000
250,000
250.000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
Vining Sparils
Cash
N/A
NIA
N/A
NIA
$
$
Book
Value
5,393.812
$ 3 .000
$ 27,226.499
$ 250,000
$ 3 .838.142
$ 259,223
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
259.223
259.223
259.223
259,223
259.223
259,223
259,223
259.223
259,223
259.223
2 59.223
259,223
259,223
259.223
259.223
259.223
259.223
259.223
259.223
259.223
259.223
259.223
259,223
259.223
259.223
259.223
259,223
259.223
259,223
259,223
259,223
259,223
259.223
259,223
259,223
2 59.223
Yield
000%
0.25%
0.00%
152%
1.75%
1.60%
0 .75%
0.80%
100%
1.00%
1.20%
1 .00%
0 .70%
1 .05%
1 .25%
1 .20%
1.25%
0 .80%
1.00%
1.10%
1 .00%
1.00%
1.15%
1.10%
1.25%
0 .90%
0 .85%
0.85%
1.00%
1 .00%
1.20%
1.20%
1.15%
1.20%
1.25%
0 .80%
115%
095%
105%
100%
1.15%
0 .90%
1.00%
A-3
Everbank I
Jacksonville FL
Central Statee Bank
Iowa
Caldwell Bank &
Trust Co
L1ve Oak Banking
Company
Cap1tal Bank Corp
Isabella Bank
Bank of China/New
York
Gold Coast
Bank/Chicago
Bankers Bank of the
West
Yadkin Bank
Benificlal Bank
Sall1e Mae Bank/Salt
Lake
Monona State Bank
Capital One NA
Bank of New
England NH
Midland State Bank
Home Savings&Loan
American Bank
Center
Preferred Bank La
California
Partners Bank
California
Independent
Bk!Memphis
Synchrony Bank
Washington Trust
Weterly
Bane of Cal iforma
Mbank of Manistique
Ml
First Federal Bank of
Dunn NC
Peoples
Bank/Magnolia AR
Greenfield Savings
Bank
Gorham Savings
Bank ME
Atlantic Stewardship
BK
Flush1ng Bank
First National Bank
Paragould
Little Bank
Stearns Bank NA
Whitney Bank/MS
Lakes1de Bank
F armers&Merchants
BK NEB
Peoples United Bank
DMB Community
Bank
Patriot Federal Bank
Woori America Bank
Union Bank and
TrusUOX
World Fore most
Bank
First National Bank
of America
East Boston Sav1ngs
Bank
Henry County Bank
OH
JP MORGAN
CHASE BANK
8/12/2016
8/17/2016
8/19/2016
8/19/2016
8/3112016
9/7/2016
9/8/2016
9/9/2016
9/14/2016
9/19/2016
10/7/2016
10/12/2016
10/13/2016
10/13/2016
10/21/2016
1112/2016
11118/2016
11/10/2016
11/9/2016
11/18/2016
11116/2016
1114/2016
11118/2016
1/13/2017
1/17/2017
1/20/2017
1/20/2017
1/20/2017
1/25/201 7
1/1 3/2017
1113/2017
1/18/2017
1125/2017
1/13/201 7
1/25/2017
1/13/2017
1118/2017
1118/2017
1/13/2017
1/20/2017
1/13/2017
1120/201 7
1/21/2017
1/20/2017
1/20/2017
1/27/2017
2/15/201 7
36 Mos
12 Mos
36 Mos
48 Mos
24 Mos
36 Mos
12 Mos
45 Mos
36 Mos
36 Mos
48 Mos
36 Mos
12 Mos
48 Mos
36 Mos
24 Mos
12 Mos
24 Mos
36 Mos
36 Mos
37 Mos
60 Mos
36Mos
12 Mos
12 Mos
12 Mos
12 Mos
12 Mos
12 Mos
24 Mos
24 Mos
24 M os
24 Mos
36 Mos
36Mos
42 Mos
60 M os
60 Mos
15 Mos
18 Mos
24 Mos
30 Mos
36 Mos
60 Mos
60 Mos
60 Mos
60 Mos
8/12/2019
8/16/2017
8/19/2019
8/19/2020
8/3112018
9/9/2019
9/8/2017
6/9/2020
9/13/2019
9/19/2019
10/7/2020
10/1 5/2019
10/1 3/2017
10/13/2020
10/2112019
1112/2018
11 /17/2017
11/9/2018
11/8/2019
11 /18/2019
12/16/20 19
1114/2021
11118/2019
1/12/201 8
1/17/2018
1/19/2018
1/19/2018
1/19/2018
1/25/2018
1/14/2019
1/14/2019
1/18/2019
1/25/2019
1/13/2020
1/27/2020
7/13/2020
1/18/2022
1/18/2022
4/13/2018
7/20/2018
1114/2019
7/22/2019
1/21/2020
1/20/2022
1/20/2022
1127/2022
2/15/2022
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250,000
250,000
250.000
250.000
250,000
250,000
250,000
250,000
250.000
250,000
250.000
250,000
250,000
250.000
250.000
250,000
250,000
250.000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250.000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
250,000
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
259.223
259.223
259.223
259.223
259,223
259.223
259.223
259,223
259.223
259.223
259,223
259.223
259.223
259,223
259,223
259.223
259,223
259,223
259,223
259,223
259,223
259,223
259,223
259.223
259.223
259.223
259,223
259,223
259.223
259.223
259,223
259,223
259.223
259.223
259.223
259.223
207.379
259.223
259,223
259,223
259.223
259,223
259,223
259.223
259.223
259,223
259.223
115%
0 .70%
1.00%
1.25%
1.05%
115%
0.85%
115%
115%
1.10%
1.35%
1.30%
0 .75%
1.40%
1.20%
1.10%
0 .80%
1.10%
115%
1.10%
115%
1.70%
1.35%
1.00%
1.00%
0 .90%
0.90%
0.90%
0.90%
1.40%
1.40%
135%
135%
160%
1.70%
1.95%
2 .05%
2.05%
1.00%
1.05%
1.35%
145%
1.75%
2 .00%
200%
1.90%
2.30%
A-4
HSBC Bank USA 3/2112017 SOMas 3/2112022 $ 250,000 $ 259,223 2 .45%
American Express
Centurion 3/2112017 SOMas 4/512022 $ 200,000 $ 259,223 2 .45%
Stale Bank of India 613012017 24Mos 71112019 $ 250,000 $ 259,223 1.75%
lndustriai&Com Bank
China 6f212017 SOMas 6f212022 $ 250,000 $ 259,223 2 .05%
First Bank of
Highland 6f712017 SOMas 617/2022 $ 250,000 $ 259,223 2.10%
Crossfirst Bank 61912017 SOMas 61912022 $ 200,000 $ 259,223 2.05%
Suntrust Bank 8/2912017 SOMas 812912022 $ 250,000 $ 250,000 1.80%
Enerbank UDA 10/1312017 48Mos 10/13/2021 $ 250,000 $ 155,780 s 94,220 2 .00%
Northfiled Bank 10/2512017 SOMas 1012512022 s 250,000 s 11 ,962 $ 238,038 2.15%
First Nat'l Bank
Michigan 1/1212018 27 Mas 4/13/2020 $ 250,000 $ 250,000 2.00%
LCA Bank Corp 1/1212018 SOMas 1/1212023 s 250,000 $ 68,339 s 181 ,661 2 .35%
Morton Community 1/1912018 36Mos 1/1912021 $ 250,000 s 250,000 2 .15%
Mid-Missouri Bank 1/1912018 SOMas 1/1912023 s 250,000 s 17,164 $ 232,836 2.35%
s 253,244
Total Investment: s 61 ,486,475
Total Investment Weighted Average Retum 1.30%
SUMMARY OF CASH BALANCE BY INSTITUTION
MARH 2018
• Bank of the West
• Malaga Bank -MMDA
• State of California -LAIF
• Malaga Bank -CD
• Vining Sparks/Bank of New York-CD
NOTE:
(1) See footnote on the summary page
(2) LAIF marl<et values will be reported to very from book value ~the City calculated share of total LAIF assets is lass than the
City book value.
To the best of my knowledge, there are no misstatements of material amounts wijhin this report;
or omissions of material amounts to causa 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 requiramants for tha next s i• months.
A-5