CC SR 20180807 D - City June 2018 Treasurer ReportRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 08/07/2018
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the June 2018 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the June 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
June 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 $62,983,925, with more than $35.3 million
or 56% of the balance in the Local Agency Investment Fund (LAIF). The City has more
than $5.2 million or 8% of the total cash balance with Bank of the West, and over $4
million or 7% with Malaga Bank. In addition, the City has a total Certificates of Deposit
(CD) investments of over $18.2 million or 29% 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 $18.2 million or 29% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $24.5 million or 39% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.4 million or 4%, over $2.1 million or 3% in the 1911 Act Fund, over $1.1 million
or 2% in the Habitat Restoration Fund, over $1.3 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 decreased by $1.8 million from last month, and in comparison
to the same period last year, the cash balance from the same period last year was
decreased by $0.1 million more from this year. The major variance included
disbursements from the General Fund, 1911 Act Fund, Measure M Fund, Quimby Park
Development Fund, and Trust Deposit Fund. There are cash activities among several
funds due to the quarterly interfund transfer in accordance of the FY17-18 budget. The
major disbursements included Stay Green for the park landscaping maintenance and
PUB Construction for the Lower Hesse Park Construction 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 quartarly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
Bank and Marchant Fees
Bonk
oftheWoot
OPERAnNG
10,160,930.73
2,123,912.58
(3, 1 03,870.29)
(902, 189.33)
4,021 .89
4,984, 753.77
(8,000,000.00)
5,267,559.35
542,036.08
339,781.96
20,371 .29
902,1 89.33
(3) Tha net adjustmant was due to void checks and deposit adjustment.
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2018
Mologo
Bonk
OP£RAnNG PETTY CASH LAIF-CITY
3,000.00 27,318,532.92
8,000,000.00
3,000.00 35,318,532.92
Mologo YTOINT
Bonk INVESTMENT
co CD TOTAL CASH RECEIVED
4,088,141.79 23,275,021 .78 64,845,627.22
2,123,912.58
16,423.38 16,423.38 383,120.01
(3, 1 03,870.29)
(902,189.33)
4,021.89
12,984,753.77
(4,984,753.77) (12,984,753.77)
4 ,104,565.17 18,290,268.01 62,983,925.45 383,120.01
JUNE 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
GRAND TOTAL
BALANCE
FORWARD
21,068,116.77
456,446 .94
23 ,498 ,17 3 .58
2 ,438 ,851.49
0 .00
(776.90
26,392 ,695 .11
4 ,039 .01
26 ,885.78
29 ,726 .07
(97,01 9 .26
0 .00
2,2 15 ,114.44
435,441 .84
75,496.40
797 ,292 .87
2 ,072 ,623 .55
106,728.95
2,431,676 .42
195,149 .78
1,070,653.61
783,703.75
90 ,334.29
295 ,156 .76
0.00
86 ,743 .31
878 ,906 .26
1,034 ,846 .31
1,438,315.46
151,317.32
596,345 .58
460,159.79
0.00
(32 ,849 .40)
0.00
0 .00
1,085 ,119.11
410,960 .37
0.00
741,946.97
17 ,384 ,815 .34
64 ,845 ,627 .22
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2018
DEBIT CREDIT CASH
19,817,555 .02 22,607,114 .45 18,278,557 .34
2 ,809 .00 2 ,809 .00 456 ,446 .94
1 '1 47 , 135 .89 66 ,363 .51 24 ,578,945 .96
93 ,320 .00 44 ,731 .81 2 ,487,439 .68
0 .00 0 .00 0.00
0 .00 0 .00 (776 .90)
1,243,264 .89 113,904 .32 27,522 ,055.68
166,944 .09 218 ,002 .70 (47,019 .60)
0 .00 204 .23 26 ,681 .55
9 .75 44 .14 29 ,691 .68
64 ,335 .00 38 ,1 88 .37 (70 ,872 .63)
0 .00 0 .00 0 .00
29 ,237 .66 136,060 .52 2 ,108,291 .58
46 ,549 .36 34 ,654 .67 447 ,336 .53
0 .00 0 .00 75,496.40
412,671 .09 367 ,224 .33 842,739 .63
61 ,77 6 .23 17 ,753 .58 2,116,646 .20
0 .00 35,000 .00 7 1,728.95
38,401 .12 0 .00 2 ,470,077.54
69 ,106.99 276,638.68 (12,381.91
86 ,885 .00 0.00 1,157 ,538 .61
11,688.97 4 ,7 01 .86 790,690 .86
0 .00 22 ,500 .00 67 ,8 34 .29
56,282.40 17 ,31 2.7 4 334 ,1 26.42
0.00 0.00 0.00
0.00 0.00 86 ,743.31
0.00 2,034 .43 876 ,871 .83
0 .00 16,942 .50 1 ,017 ,903.81
12,675 .00 131,408.08 1,3 19 ,582 .38
0.00 0.00 15 1,317.32
221,818 .30 0 .00 818 ,163.88
0.00 0 .00 460 ,159.7 9
0.00 0 .00 0 .00
0.00 0.00 (3 2 ,849 .40
0 .00 0 .00 0.00
0 .00 0 .00 0.00
469,200 .25 536,807 .96 1,017 ,51 1.40
0 .00 512 .00 410 ,448.37
0 .00 0 .00 0 .00
94 ,169.33 187 ,262 .66 648 ,853.64
1,841,750.54 2,043,253.45 17,183,312.43
22,902 ,570.45 24 ,764 ,272 .22 62,983 ,925 .45
Total Investment: 62,983,925.45
Change In
Ending Cash
Balance
(2 ,789,559 .43
0.00
1,080 ,772 .38
48 ,5 88 .1 9
0 .00
0 .00
1,129,360 .57
(51 ,058 .61
(204.23
(34 .39
26,146.63
0.00
(106 ,822 .86
11,894.69
0 .00
45 ,446 .76
44 ,022.65
(35,000 .00
38,401 .12
(207,531 .69
86 ,885 .00
6 ,987 .11
(22 ,500 .00
38,969 .66
0.00
0.00
(2,034.43
(16,942.50
(1 18 ,73 3.08J
0.00
221 ,818 .30
0 .00
0 .00
0 .00
0.00
0.00
(67,607 .71)
(512 .00)
0 .00
(93 ,093 .33)
(201 ,502 .91)
(1 ,8 61 ,701.77)
Change In
Ending Cash
Balance in %
-13%
0%
5%
2%
0%
0%
4%
-100%
-1%
0%
-27%
0%
-5%
3%
0%
6%
2%
-33%
2%
-106%
8%
1%
-25%
13%
0%
0%
0%
-2%
-8%
0%
37%
0%
0%
0%
0%
0%
-6%
0%
0%
-13%
-1%
-3%
A-2
Investment
Checking Accounts
Checking 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 Ba nk
Malaga Bank
Capital One Bank
USA
BMW Bank North
America
Pacific Continental
Bank
Tnad Bank
Capstone Bank
Capital Bank Little
Rock
Discover Bank
Celtic Bank
Abacus Federal
Savings Bank
Luana Savings Bank
Community Fin I
SVCS Bank
First Western Bank
S1gnature Bank of
Arkansas
Carroll County State
Bank Iowa
Everbank I
Jacksonville FL
Caldwell Bank &
Trust Co.
Live Oak Banking
Company
lsbella Bank
Gold Cast
Bank/Chicago
Bankers Bank of the
West
Yadkin Bank
Beneficial Bank
Sallie Mae Bank/Salt
Lake
Capital One NA
Bank of New
England NH
Preferred Bank La
California
Partners Bank
California
Independent
Bk/Memphis
Synchrony Bank
Washington Trust
Weterly
Stearns Bank NA
Whitney Bank/MS
Lakes1de Bank
F armers&Merchants
BK NEB
Peopl es Un1ted Bank
Union Bank and
TrusVOX
Worlds Foremost
Bank
CUSIPI
140420YN4
05580AER1
69413CEU9
89579NBP7
14069TAH8
139797FRO
254672ZB7
15118RPC9
00257TAUO
549103WGO
20364ABW4
3374gVAG3
82669LGD9
145087AF9
29976DQ78
128829ADO
538036CG7
464209CJ2
38058KDM5
06610TDN2
984308EG7
08173QBT2
795450ZF5
14042RDA6
063847AM9
740367EW3
702 12YAU6
45383USK2
87165HRY8
940637HW4
857894SD2
966594AW3
51210SMD6
30781TBD9
7 127 0QQJ8
905200CE9
981 57 1CV2
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2018
Acquisition
Oate
N/A
N/A
N/A
N/A
2/23/2018
2/23/2018
5/4/2016
5/27/2016
5/3112016
6/2/2016
6/15/2016
6/22/2016
6/8/2016
6/15/2016
6/20/2016
7/8/2016
7/12/2016
7/15/2016
7115/2016
8/12/2016
8/12/2016
8/19/2 016
8/19/2016
9/7/2016
9/9/2016
9/14/201 6
9/19/2016
10/7/2016
10/12/201 6
10/13/2016
10/21/20 16
11 /9/2016
11 /18/2016
11116/2016
6/2/2017
11 /18/2016
1/13/20 17
1/25/2017
1/13/2017
1/18/2017
1/18/2017
1120/2017
1/21120 17
Term
N/A
N/A
N/A
N/A
24 Mas
24 Mas
36 Mos
36 M as
36 Mos
46 Mas
36 Mas
39 Mas
36 Mas
36 Mas
39 M os
48 Mas
36Mos
36 Mos
48 Mos
36 Mos
36Mos
36 Mos
48Mos
36 Mas
45 Mos
36 Mos
36 Mos
48 Mo s
36 M os
48 Mos
36 Mas
36 M os
36 Mas
37 Mos
60Mos
36 Mas
36 Mas
36 M os
54 Mas
60Mos
60 Mos
30 Mos
36 Mas
Maturity
Date
O n Demand
On Demand
On Demand
On Demand
2/23/2020
2/23/2020
5/6/201 9
5/28/2019
5/3112019
4/2/2020
6/1 4/2019
9/23/2019
6/10/2019
6/14/2019
9/17/2019
718 12020
7/12/2019
7/15/2019
711 5/2020
8/12/2019
8/12/2019
8/19/20 19
8/19/2020
9/9/201 9
6/9/2020
9/13/2019
9/19/2019
10/7/2020
10/15/2019
10/13/2020
10/2 1/2019
1118/2019
11 /18/2019
12/16/2019
6/2/2022
11 /18/20 19
1/13/2020
1/2 7/2020
7/13/202 1
1118/2022
1/18/2022
7/22/2019
1/2 1/2020
Market
Value
$ 5,267.559
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
3.000
35.318.533
250.000
3,854.565
250.000
250,000
250.000
250.000
250.000
250,000
250.000
250.000
250,0 00
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
250.0 00
250.000
250.000
200.000
Vining Sparks
Cash
N/A
N/A
N/A
N/A
$
$
Book
Value Yield
5,267,559 0 00%
0 .25%
3,000 0 .00%
$ 35,318,533 1.85%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250,000 1 .75%
3,854,565 1.60%
250,000 1.20%
250,000 115%
250,000 1 10%
250,000 1 25%
250 ,000 1.20%
250,000 1.20%
250,000 1.15%
250,000 1.20%
250,000 1 25%
250,000 115%
250,000 1.05%
250,000 1 00%
250,000 1.15%
250,000 1 00%
250,000 1.15%
250,000 1.00%
250.000 1.25%
250,000 115%
250,000 1.15%
250,000 115%
250,000 1.10%
250,000 1.35%
250,000 1 30%
250,000 1.4 0%
250,000 1.20%
250,000 115%
250,000 1 10%
250,000 1.15%
250,000 2.40%
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 1.45%
200,000 1.75%
A-3
CD-Bank of New York (Vining Sparks) Adj
First National Bank
of America
East Boston Savings
Bank
Henry County Bank
OH
JP MORGAN
CHASE BANK
HSBC Bank USA
Amencan Express
Centurion
lndustriai&Com Bank
China
First Bank of
Highland
Crossfirst Bank
Barclays Bank
Delaware
First 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
Th~rd Fed Sav&Ln
Clevland
American Express
Bank FSB
Bankers Bank
Madison W I
Southern States
Bank
Morgan Stanley
Bank NA
Mercantil Bank NA
First Nat'l Bank
Michigan
LCA Bank Corp
First Federal SVGS
Bank
Morton Community
Mid-Mi ssouri Bank
Summit Community
Bank
First Financial Bank
Continental Bank UT
32110YJT3
27113PBM2
426336BF9
4Bt21CBQ2
40434YGK7
025B7DN3B
455B1EAFB
319141GE1
22766ABBO
06740KKDB
32056GCQ1
12325EHV7
B57B9VUPO
61750ADT3
29255N5P7
59013JC23
909B3WBNO
45906ABR7
55612ABX5
0174BDAY2
82559VBY5
88413QBU1
02587CHR4
05610RAT5
843879BB2
51747MD73
58733AES4
32114VBJ5
801798LK5
32031YCD4
519155HP1
5954 1KBP1
85604XML7
32021MFC8
211153GYO
1/20/2017
1/20/2017
1/27/2017
2/15/2017
3/21 /2017
3/21/20 17
5/2/2017
5nt201 7
6 /9/2017
7/12/2017
7/14/2017
7/19/2017
8/29/2017
9nt2017
10/1312017
10/11 /2017
10/12/20 17
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
1/12/2018
1/12/2018
1/17/2018
1/19/2018
1/19/2018
1/25120 18
2/21 /2018
2/23/2018
50 Mos
60 Mos
50 Mos
60 Mos
50 Mos
50 Mas
50 Mos
60 Mos
50 M os
60 Mos
50 Mos
50 Mos
60Mos
24 Mos
48 Mas
50Mos
54 Mos
54 Mos
50 Mas
50 Mas
50 Mos
48 Mos
48 M os
48 Mas
40 Mas
35Mos
36 Mos
27 Mas
50 Mos
37 Mas
35Mos
50 Mas
30 Mas
48 M as
35 Mos
1/20/2022
1/20/2022
1/27/2022
2/15/2022
3/21/2022
4/5/2022
6/2/2022
5f7/2022
5/9/2022
7/12/2022
7/14/2022
7/19/2022
8/29/2022
9/9/20 19
10/13/202 1
10/11/2022
4/12/2022
4/20/2022
10/25/2022
11/3/2022
11/8/2 022
11/24/2021
12/20/202 1
12/20/2021
4/20/2021
12/21 /2020
12/29/2020
4/13/2020
1/12/2023
2/17/202 1
1/19/2021
1/19/2023
7/25/2021
2/22/2022
8/23/202 1
$
$
$
$
$
$
$
$
$
$
s
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
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
250,0 00
$ 17,950,000 $
Total Investment:
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
s
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
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 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%
250,000 2.00%
250,000 2 .10%
250,000 2.05%
250,000 2 .10%
250,000 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%
250,000 2.00%
250,000 2 .35%
250,000 2.1 5%
250,000 2 15%
250,000 2 .35%
250,000 2.20%
250,000 2.45%
250,000 2 .30%
340,258
$ 62,983,925
Total Investment Weighted Average Return 1.63%
A-4
SUMMARY OF CASH BALANCE BY INSTITUTION
JUNE 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 market values will be reported to vary from book value if the City calculated shara of total LAIF assets is less than the
City book value.
To the best of my knowiedge, 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 acaJrately 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 tha next six months.
Treasurer Dated
A-5