CC SR 20180717 K - May 2018 Treasurer Report - CityRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 07/17/2018
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the May 2018 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the May 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
May 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 $64,845,627, with more than $27.3 million
or 42% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $10.1 million or 16% of the total cash balance with Bank of the West, and over $4
million or 6% with Malaga Bank. In addition, the City has Certificates of Deposit (CD)
investments totaling over $23.2 million or 36% 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 $21 million or 32% in cash balance, and
the Capital Improvement Projects (CIP) Fund has over $23 million or 36% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.4 million or 4%, over $2.2 million or 3% in the 1911 Act Fund, over $1 million or
2% in the Habitat Restoration Fund, over $1.4 million or 2% in the Quimby Fund, over
1
$1 million or 2% in the Water Quality Fund, and over $12 million or 19% in Other
Restricted Funds.
The City’s cash balance increased by $1.7 million from last month, and in comparison to
the same period last year, the cash balance decreased by $0.4 million. The major
variance included disbursements from the Capital Improvement Fund, Equipment
Replacement Fund, CDBG Fund, Measure M Fund, Quimby Park Development Fund,
and Water Quality Flood Protection Fund. The major disbursements included Stay
Green for the park landscaping maintenance, PALP Inc. for the Miraleste Arterial Street
Rehabilitation Project, PUB Construction for the Lower Hesse Park Construction
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
Postage
Bank and Merchant Fees
Bank
oftheWoot
OPERATING
6,942,204.06
5,400,372.49
(3,040,781.53)
(611 ,220.69)
(29,643.60)
1 ,500,000.00
10,160,930.73
380,856.23
223,136.06
2,500.00
4,728.40
611,220.69
(3) The net adjustment was due to void checks and deposit adjustment.
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2018
Mologo
Bank
OPERATING PETTY CASH LAIF.CITY
0 .00 3,000.00 27,318,532.92
3,000.00 27,318,532.92
Mologa YTDINT
Bank INVESTMENT
CD CD TOTAL CASH RECEIVED
4,088,141.79 24,775,021.78 63,126,900.55
5,400,372.49
0.00 366,696.63
(3,040, 781.53)
(611 ,220.69)
(29,643.60)
1,500,000.00
(1 ,500,000.00) (1 ,500,000.00)
4,088,141.79 23,275,021.78 64,845,627.22 366,696.63
MAY 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
EL PRADO
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 OBLIGAT ION RETIF
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
18,807,287.37
457,010.57
23,652,703.85
2 ,492,217.36
0.00
(776.90
26,601,154.88
(92,990.20)
26,885.31
29,445.55
(40,366.51)
0.00
2 ,162,866.86
451,915.36
61,321 .90
734,164.29
2 ,022,706.46
106,726.75
2 ,383,836.51
260,539.09
1,106,709.45
785,056.96
90,332.47
291 ,462.98
0.00
86,741 .81
897,039.07
1,034,256.31
1,477,607.44
151,314.70
596,335.25
390,271 .19
0 .00
(32,779.63
0 .00
0.00
1,586,673.60
410,952 .88
0.00
739,432.45
17,718,458.30
63,126,900.55
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2018
DEBIT CREDIT CASH
8 ,504,363.36 6,243,533.98 21,068,116.77
8.09 571 .72 456,446.94
8,063.12 162,593 .39 23,498,173.58
43.46 53,409.33 2 ,438,851.49
0.00 0 .00 0.00
0.00 0 .00 (776.90
8,114.67 216,574.44 26,392,695.11
172,517.16 75,487.95 4,039.01
0.47 0 .00 26,885 .78
280.52 0.00 29,726.07
542.00 57,194.75 (97 ,019.26)
0.00 0 .00 0.00
79,821 .65 27,574.07 2,215,114.44
10,774 .63 27 ,248.15 435,441 .84
14,174.50 0.00 75,496.40
63,128.58 0 .00 797,292.87
76,150.19 26,233.10 2 ,072,623 .55
2.20 0 .00 106,728 .95
47,839.91 0 .00 2,431 ,676.42
54 ,659.11 120,048.42 195,149.78
19.16 36,075.00 1,070,653.61
13.59 1,366.80 783,703.75
1.82 0 .00 90,334.29
7,718.46 4 ,024.68 295,156.76
0.00 0 .00 0.00
1.50 0.00 86,743.31
1,515.60 19,648.41 878,906.26
8,239.45 7,649.45 1,034,846 .31
38,249.98 77,541 .96 1,438,315.46
2.62 0.00 151 ,317 .32
10.33 0 .00 596,345.58
69,888.60 0.00 460 ,159.79
0.00 0.00 0.00
0.00 69.77 132,849.40
0.00 0.00 0.00
·o.oo 0.00 0 .00
2,837.89 504,392.38 1,085,119.11
7 .49 0.00 410,960 .37
0.00 0.00 0 .00
25,114.00 22,599 .48 741 ,946.97
673,511 .41 1,007,154.37 17,384,815.34
9,185,989.44 7,467,262.77 64,845,627.22
Total Investment: 64,845,627 .22
Change In
Ending Cash
Balance
2,260,829.40
(563.63
(154,530.27)
(53,365.87)
0.00
0 .00
(208,459.77)
97,029.21
0.47
280.52
(56,652.75
0 .00
52,247.58
(16 ,473.52
14 ,174.50
63,1 28.58
49,917 .09
2 .20
47,839.91
(65 ,389 .31
(36,055.84
(1 ,353.21
1.82
3 ,693.78
0.00
1.50
(18 , 132.81
590 .00
(39,291 .98
2.62
10.33
69,888.60
0 .00
(69 .77
0.00
0.00
(501 ,554.49
7 .49
0 .00
2,514 .52
(333,642.96
1,718,726.67
Change In
Ending Cash
Balance in °/c 0
12%
0%
-1%
-2%
0%
0%
-1%
104%
0%
1%
140%
0%
2%
-4%
23%
9%
2%
0%
2%
-25%
-3%
0%
0%
1%
0%
0%
-2%
0%
-3%
0%
0%
18%
0%
0%
0%
0%
-32%
0%
0%
0%
-2%
3%
A-2
Investment
Check1ng Accounts
Check1ng Accounts
Petty Cash
Issuer of
Investment
Bank of the West
Malaga Bank
N/A
Local Agency Investment Fund (LAIF-CITY) State of California
CD-Non-Negotiable
CD-Non-Negotiable
CD-Bank of New York (Vining Sparks)
Malaga Bank
Malaga Bank
MB F1nanc1al Bank
United Bankers Bank
Comenity Capital
Bank
Medallion Bank Utah
Goldman Sachs
Bank USA
Capital One Bank
USA
Wells Fargo Bank
Ally Bank
BMW Bank North
America
Pacific Continental
Bank
Tnad Bank
Firstrust Saving
Bank
Farm Bureau Bank
Capstone Bank
Cap1tal Bank Little
Rock
Discover Bank
Celtic Bank
Abacus Federal
Sav1ngs Bank
Luana Savings Bank
Wex Bank
Community F1nl
SVCS Bank
First Western Bank
Signature Bank of
Arkansas
Queenborough
Nat1onal Bank
Carroll County State
Bank Iowa
Everbank I
Jacksonville FL
Caldwell Bank &
Trust Co.
Live Oak Banking
Company
Cap1tal Bank Corp
lsbella Bank
Gold Cast
Bank/Chicago
Bankers Bank of the
West
Yadk1n Bank
Beneficial Bank
Sallie Mae Bank/Salt
Lake
Cap1tal One NA
Bank of New
England NH
Midland State Bank
55266CRG3
909557FR6
20033AQE9
58403B3X2
38148PEH6
140420YN4
9497484V6
02006LA86
05580AER1
69413CEU9
89579NBP7
337630AY3
307660KE9
14069TAH8
139797FRO
254672ZB7
15118RPC9
00257TAUO
549103WGO
92937CDL9
20364ABW4
33749VAG3
82669LGD9
74824XCZ7
145087AF9
29976DQ78
128829ADO
538036CG7
13979PAD6
464209CJ2
38058KDM5
06610TDN2
984308EG7
08173QBT2
795450ZF5
14042RDA6
063847AM9
59774QFB3
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2018
Acquisition
Date
N/A
N/A
N/A
N/A
2/23/2018
2/23/2018
4/29/2016
5/2/2016
5/2/2016
5/3/2016
5/4/2016
5/4/2016
5/4/2016
5/5/2016
5/27/2016
5/31/2016
6/2/2016
6/10/2016
6/15/2016
6/15/2016
6/22/2016
6/8/2016
6/15/2016
6/20/2016
7/8/2016
7/8/2016
7/12/2016
7/15/2016
7/15/2016
8/10/2016
8/12/2016
8/12/2016
8/19/2016
8/19/2016
8/31/2016
917/2016
9/9/2016
9/14/2016
9/19/2016
1017/2016
10/12/2016
10/13/2016
10/21/2016
11/2/2016
Tenn
N/A
N/A
N/A
N/A
24 Mas
24 Mas
30 Mas
30 Mas
36 Mas
30 Mas
36 Mas
36 Mas
36 Mas
30 Mas
36 Mas
36 Mas
46 Mas
24 Mas
24 Mas
36 Mas
39 Mas
36 Mas
36 Mas
39 Mas
48 Mas
24 Mas
36 Mas
36 Mas
48 Mas
24 Mas
36 Mas
36 Mas
36 Mas
48 Mas
24 Mas
36 Mas
45 Mas
36 Mas
36 Mas
48 Mas
36 Mas
48 Mas
36 Mas
24 Mas
Maturity
Date
On Demand
On Demand
On Demand
On Demand
2/23/2020
2/23/2020
10/29/2018
10/29/2018
5/2/2019
11/5/2018
5/6/2019
5/6/2019
5/6/2019
11/5/2018
5/28/2019
5/31/2019
4/2/2020
6/11/2018
6/15/2018
6/14/2019
9/23/2019
6/10/2019
6/14/2019
9/17/2019
7/8/2020
7/9/2018
7/12/2019
7/15/2019
7/15/2020
8/10/2018
8/12/2019
8/12/2019
8/19/2019
8/19/2020
8/31/2018
9/9/2019
6/9/2020
9/13/2019
9/19/2019
1017/2020
10/15/2019
10/13/2020
10/21/2019
11/2/2018
Market
Value
$ 10,160,931
$
$ 3.000
$ 27,318.533
$ 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
250.000
Vining Sparks
Cash
N/A
N/A
N/A
N/A
Book
Value Yield
$ 10,160,931 000%
$ 0.25%
3,000 000%
$ 27,318,533 1.76%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250,000 1.75%
3,838,142 1 60%
250,000 1.00%
250,000 1 00%
250,000 1 20%
250,000 1 00%
250,000 1.25%
250,000 1.20%
250,000 1.25%
250,000 1.10%
250,000 115%
250,000 1.10%
250,000 1.25%
250,000 1 00%
250,000 1 00%
250,000 1.20%
250,000 1 20%
250,000 115%
250,000 1.20%
250,000 1.25%
250,000 115%
250,000 0.95%
250,000 1 05%
250,000 1 00%
250,000 115%
250,000 0 90%
250,000 1.00%
250,000 115%
250,000 1.00%
250,000 1.25%
250,000 1.05%
250,000 115%
250,000 1 15%
250,000 115%
250,000 110%
250,000 1.35%
250,000 1.30%
250,000 140%
250,000 1.20%
250,000 1 10%
A-3
Amencan Bank
Center
Preferred Bank La
California
Partners Bank
California
Independent
Bk/Memphis
Synchrony Bank
Washington Trust
Weterly
Atlantic Stewardship
BK
Flush1ng Bank
First National Bank
Paragould
Little Bank
Stearns Bank NA
Wh1tney Bank/MS
Lakeside Bank
Farmers&Merchants
BK NEB
Peoples United Bank
Patnot Federal Bank
Woori America Bank
Un1on Bank and
Trust/OX
Worlds Foremost
Bank
First Nat1onal Bank
of America
East Boston Savings
Bank
Henry County Bank
OH
JP MORGAN
CHASE BANK
HSBC Bank USA
Amencan Express
Centurion
State Bank of India
lndustnai&Com Bank
Ch1na
First Bank of
Highland
Crossf~rst Bank
Barclays Bank
Delaware
F~rst Internet Bank of
In
Business Bk of St
Louis
Suntrust Bank
Morgan Stanley PVT
Bank
Enerbank USA
Merrick Bank
United Community
Bk Ill
International Bk
Chicago
Northfiled Bank
Allegiance Bank
Texas
Signature Bk
Ch1cago
Third Fed Sav&Ln
Clevland
American Express
Bank FSB
Bankers Bank
Madison WI
Southern States
Bank
Morgan Stanley
Bank NA
Mercantil Bank NA
024280AC3
740367EW3
70212YAU6
45383USK2
87165HRY8
940637HW4
049060BE5
34387ACA5
32114LAV1
53700PDU7
857894SD2
966594AW3
51210SMD6
30781TBD9
71270QQJ8
70335UAB8
981059AU2
905200CE9
981571CV2
32110YJT3
27113PBM2
426336BF9
48121C8Q2
40434YGK7
02587DN38
856285CX7
45581EAF8
319141GE1
22766ABBO
06740KKD8
32056GCQ1
12325EHV7
86789VUPO
61760ADT3
29266N6P7
59013JC23
90983WBNO
45906ABR7
66612ABX5
01748DAY2
82669VBY6
88413QBU1
02587CHR4
06610RAT6
843879BB2
61747MD73
58733AES4
11/10/2016
11/9/2016
11/18/2016
11/16/2016
6/2/2017
11/18/2016
1/13/2017
1/13/2017
1/18/2017
1/25/2017
1/13/2017
1/25/2017
1/13/2017
1/18/2017
1/18/2017
1/20/2017
1/13/2017
1/20/2017
1/21/2017
1/20/2017
1/20/2017
1/27/2017
2/15/2017
3/21/2017
3/21/2017
6/30/2017
6/2/2017
617/2017
6/9/2017
7/12/2017
7/14/2017
7/19/2017
8/29/2017
917/2017
10/13/2017
10/11/2017
10/12/2017
10/20/2017
10/25/2017
11/3/2017
11/8/2017
11/24/2017
12/19/2017
12/20/2017
12/20/2017
12/21/2017
12/29/2017
24 Mas
36 Mas
36 Mas
37 Mas
60 Mas
36 Mas
24 Mas
24 Mas
24 Mas
24 Mas
36 Mas
36 Mas
54 Mas
60 Mas
60 Mas
18 Mas
24 Mas
30 Mas
36 Mas
60 Mas
60 Mas
60 Mas
60 Mas
60 Mas
60 Mas
24 Mas
60 Mas
60 Mas
60 Mas
60 Mas
60 Mas
60 Mas
60 Mas
24 Mas
48 Mas
60 Mas
54 Mas
54 Mas
60 Mas
60 Mas
60 Mas
48 Mas
48 Mas
48 Mas
40 Mas
36 Mas
36 Mas
11/9/2018
11/8/2019
11/18/2019
12/16/2019
6/2/2022
11/18/2019
1/14/2019
1/14/2019
1/18/2019
1/25/2019
1/13/2020
1/27/2020
7/13/2021
1/18/2022
1/18/2022
7/20/2018
1/14/2019
7/22/2019
1/21/2020
1/20/2022
1/20/2022
1/27/2022
2/15/2022
3/21/2022
4/5/2022
7/1/2019
6/2/2022
617/2022
6/9/2022
7/12/2022
7/14/2022
7/19/2022
812912022
9/9/2019
10/13/2021
10/11/2022
4/12/2022
4/20/2022
10/25/2022
11/3/2022
11/8/2022
11/24/2021
12/20/2021
12/20/2021
4/20/2021
12/21/2020
12/29/2020
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
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
200.000
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
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
77,514 $
$
$
$
11,962 $
$
$
$
$
$
$
$
$
250,000 1.10%
250,000 115%
250,000 1.10%
250,000 115%
250,000 2.40%
250,000 1.35%
250,000 1.40%
250,000 1.40%
250.000 1 35%
250,000 1 35%
250,000 1.60%
250,000 1.70%
250,000 1.95%
250,000 2.05%
250,000 2.05%
250,000 1.05%
250,000 1 35%
250,000 1.45%
200,000 175%
250,000 2.00%
250,000 2 00%
250,000 1 90%
250.000 2 30%
250,000 2.45%
250,000 2 45%
250,000 175%
250,000 2 05%
250,000 2.10%
250,000 2.05%
250,000 2 20%
250,000 2.05%
250,000
250,000 1.80%
250,000 1.75%
94,220 2.00%
250,000 2.10%
250,000 2.05%
250,000 2.10%
238,038 2 15%
250,000 2.20%
250,000 2.15%
250,000 2.10%
250,000 2.20%
250,000 2 15%
250,000 2.00%
250,000 2 15%
250,000 2.20%
A-4
CD -Bank of N-York (Vining Sparks) Adj
NOTE:
( 1 ) See footnote on the summery page
First Nat'l Bank
Michigan 32114VBJ5 111212018 27 Mos 4/1312020
LCA Bank Corp 801798LK6 111212018 60Mos 1/1212023
First Federal SVGS
Bank 32031YCD4 111712018 37 Mos 2/17/2021
lberiabank/LA 45083AHD7 111712018 15Mos 4/17/2019
Morton Community 619165HP1 1119/2018 36Mos 1/1912021
Mid-Missouri Bank 59541KBP1 1119/2018 60Mos 1/1912023
Summit Community
Bank 86604XML7 1/2612018 30Mos 712612021
First Financial Bank 32021MFC8 2121/2018 48Mos 2/2212022
Continental Bank UT 211163GYO 212312018 36Mos 8/2312021
SU MMARY OF CASH BALAN CE BY I NSTI T UT IO N
MAY 2018
$ 250,000 $ 250,000
$ 250,000 $ 68,339 $ 181,661
$ 250,000 $ 250,000
$ 250,000 $ 250,000
$ 250,000 $ 250,000
$ 250,000 $ 17,164 $ 232,836
$ 250,000 $ 250,000
$ 250,000 $ 250,000
$ 250,000 $ 250,000
$ 78,266
$ 23,450,000 s 174,978
Total Investment: $ 64,845,627
Total Invest ment Wei ghted Average Return
• Bank of the West
• Malaga Bank -MMDA
• State of California -LAIF
• Malaga Bank -CD
• Vining Sparks/Bank of New York-CD
(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,
~9-u/A..--.. ~~$
2.00%
2.35%
2.15%
1.80%
2.15%
2.35%
2.20%
2.45%
2.30%
1.39%
A-5