CC SR 20180904 K - City July 2018 Treasurer ReportRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 09/04/2018
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the July 2018 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the July 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
July 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 $61,674,614, with more than $31.4 million
or 51% of the total cash balance in the Local Agency Investment Fund (LAIF). The City
has more than $5.5 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 a total Certificates of
Deposit (CD) investments and Treasury Bills over $20.5 million or 33% 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 $17.3 million or 28% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $24.8 million or 40% 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
$0.5 million or 1% in the Water Quality Fund, and over $11.9 million or 19% in Other
Restricted Funds.
The City’s cash balance decreased by $1.3 million from last month, and in comparison
to the same period last year, the cash balance from this year was improved by $0.2
million. The major variance included disbursements from the General Fund, Street
Maintenance Fund, Prop C Fund, and Water Quality Flood Protection Fund. The major
disbursements included Stay Green for the park landscaping maintenance, Hardy &
Harper for the Palos Verdes Drive South Landslide Road Project, and G. B. Cooke for
the Storm Drain Point Repair Project. All other operating expenditures were disbursed in
accordance with the FY18-19 budget.
2
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
AOJUSTMENTS(3)
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
Sales Taxes
Postage
Bank and Merchant Faes
Bonk
oftheWeat
OPERATING
5,267,559.35
2,124,974.87
(2,342,336.41)
(1,222,594.21)
174.98
4,000,000.00
(2,261 ,523.59)
5,566,254.99
381,916.92
829,950.21
2,999.00
2,500.00
5,228.08
1,222,594.21
(3) The net adjustment was due to void chacks and deposit adjustment.
Mologo
Bonk
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2018
OPERATING PETTY CASH LAIF.CITY
3,000.00 35,318,532 .92
130,468.99
(4 ,000,000.00)
3,000.00 31 ,449,001 .91
Mllogl YTDINT
Bonk INVESTMENT
CD CD TOTAL CASH RECEIVED
4 ,1 04,565.1 7 18,290,268.01 62,983,925.45
2,124,974.87
130,468.99 130,468.99
(2,342,336.41)
(1 ,222,594 .21)
174.98
2,261 ,523.59 6,261,523.59
(6,261 ,523.59)
4,104,565.17 20,551 '791 .60 61 ,674,613.67 130,468.99
JULY 2018 CASH BALAN C E BY MAJOR FUNDS
.GENERAL FUND 28%
• EQU IPMENT REPLACEMENT 4%
.1911 ACT 3%
E:IHABITAT RESTORATION 2%
.QUIMBY2%
.WATER QUAUTY FLOOD PROTECTION 1%
.OTHER RESTRICTED FUNDS 19%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
Restricted bv Law or External Aaencies
STREET MAINTENANCE
1972ACT
EL PRADO
COBG
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 PROTECTim
REDEVELOPMENT OBLIGATION RETIR
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRANO TOTAL
BALANCE
FORWARD
18,278,557.34
456,446.94
24,578,945.96
2,487,439.68
0.00
(776 .90
27,522,055.68
(47,019.60
26,681 .55
29,691 .68
(70,872.63
0 .00
2,108,291 .58
447,336.53
75,496.40
842,739.63
2,116,646.20
71 ,728 .95
2,470,077.54
(12,381.91
1 '157,538.61
790,690.86
67,834.29
334,126.42
0 .00
86,743.31
876,871 .83
1,017,903 .81
1,319,582.38
151,317.32
818,163.88
460,159.79
0 .00
(32,849.40)
0.00
0.00
1,017,511 .40
410,448.37
0 .00
648,853.64
17,183,312.43
62,983,925.45
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2018
DEBIT CREDIT CASH
9,910,210.63 10,858,074.27 17,330,693.70
0.00 2,809.00 453,637.94
273,236.32 15,635.89 24,836,546.39
0.00 42.79 2,487,396.89
0.00 0.00 0 .00
3,071 .06 2,294.16
276,307.38 18,487.68 27,779,875.38
120,951.19 222,750.02 (148,818.43)
204.23 0 .00 26,885.78
116.91 0 .00 29,808.59
15,480.87 0 .00 (55,391.76)
0.00 0 .00 0.00
26,779.41 26,327.30 2,108,743.69
7,002.96 14,627.64 439,711 .85
0.00 0.00 75,496.40
62,213 .87 361 ,429.33 543,524 .17
69,341 .41 0.00 2,185,987.61
0.00 0 .00 71,728.95
43,123.46 0 .00 2,513,201 .00
83,086.27 17,960.32 52,744.04
0.00 37,373.70 1 '120, 164.91
2,137.47 1,313.97 791 ,514.36
0.00 0 .00 67,834.29
551 .19 5,237.79 329,439.82
0 .00 0.00 0 .00
0 .00 0 .00 86,743.31
3 ,331 .39 0.00 880,203.22
0 .00 0 .00 1,017,903 .81
250.00 12,675.00 1,307,157.38
0 .00 0 .00 151 ,317.32
0.00 0.00 818,163.88
0.00 0 .00 460,159.79
0 .00 0 .00 0 .00
82,500.00 0 .00 49,650.60
0.00 0.00 0.00
0 .00 0.00 0 .00
0 .00 469,200.25 548,311 .15
0.00 0 .00 410,448.37
0 .00 0 .00 0 .00
90,195.10 57 ,638.25 681 ,410.49
607,265.73 1 ,226,533.57 16,564,044.59
10,793,783.74 12,103,095.52 61 ,674,613.67
Total Investment: 61 ,674,613.67
Change In
Ending Cash
Balance
. (947,863.64
(2,809.00
257,600.43
(42.79)
0 .00
3,071 .06
257,819.70
(101,798.83
204.23
116.91
15,480.87
0 .00
452.11
_17 ,624.68
0.00
(299 ,215.46)
69,341 .41
0 .00
43,123.46
65,125.95
(37,373.70
823.50
0 .00
_14,686 .60
0 .00
0.00
3,331 .39
0 .00
(12,425.00
0 .00
0 .00
0 .00
0 .00
82 ,500.00
0 .00
0 .00
_1469 ,200.25
0.00
0.00
32 ,556.85
(619,267.84
(1,309,311 .78
Change In
Ending Cash
Balance in %
-5%
-1 %
1%
0%
0%
395%
1%
-217%
1%
0%
22%
0%
0%
-2%
0%
-36%
3%
0%
2%
526%
-3%
0%
0%
-1%
0%
0%
0%
0%
-1%
0%
0%
0%
0%
251 %
0%
0%
-46%
0%
0%
5%
-4%
-2 %
A-2
Investment
Checking Accounts
Checking Accounts
Pelly Cash
Issuer of
Investment
Bank of the West
Malaga Bank
N/A
Local Agency Investment Fund (LAIF-CITY) Slate of California
CD -Non-Negotiable
CD -Non-Negotiable
CD -Bank of New York (Vimng Sparks)
Malaga Bank
Malaga Bank
Abacus Federal
Savings Bank
Allegiance Bank
Texas
American Express
Bank FSB
American Express
Centurion
BMW Bank North
America
Bank of New
England NH
Bankers Bank
Mad1son WI
Bankers Bank of the
West
Barclays Bank
Delaware
Benef1c1al Bank
Business Bk of St
Louis
Caldwell Bank &
Trust Co
Capital Bank Lillie
Rock
Cap1tal One Bank
USA
Capital One NA
Capstone Bank
Carroll County State
Bank Iowa
Celtic Bank
Community Fin!
SVCS Bank
Continental Bank UT
Crossfirst Bank
Discover Bank
East Boston Savings
Bank
Enerbank USA
Everbank I
Jacksonville FL
Farmers&Merchants
BK NEB
First Bank of
Highland
First Financial Bank
First Federal SVGS
Bank
F~rst Internet Bank of
In
F~rst National Bank
of America
First Nat' I Bank
Michigan
F ~rst Western Bank
Gold Cast
Bank/Ch1cago
HSBC Bank USA
CUSIPI
00257TAUO
01748DAY2
02587CHR4
02587DN38
05580AER1
063847AM9
06610RAT6
06610TDN2
06740KKD8
08173QBT2
12325EHV7
128829ADO
139797FRO
140420YN4
14042RDA6
14069TAH8
145087AF9
15118RPC9
20364ABW4
211163GYO
22766ABBO
254672ZB7
27113PBM2
29266N6P7
29976DQ78
30781TBD9
319141GE1
32021MFC8
32031YCD4
32056GCQ1
32110YJT3
32114VBJ5
33749VAG3
38058KDM5
40434YGK7
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2018
Acquisition
Date
N/A
N/A
N/A
N/A
2/23/2018
2/23/2018
6/20/2016
1113/2017
12/19/2017
3/21/2017
5/27/2016
10/21/2016
12/20/2017
9/14/2016
7/12/2017
10nt2016
7/19/2017
8/19/2016
6/22/2016
5/4/2016
10/13/2016
6/15/2016
8/12/2016
6/15/2016
7/12/2016
2/23/2018
6/9/2017
6/8/2016
1/20/2017
10/13/2017
8/12/2016
1/18/2017
6/7/2017
2/2112018
1/17/2018
7/14/2017
1/20/2017
1/12/2018
7/15/2016
9/9/2016
3/21/2017
Term
N/A
N/A
N/A
N/A
24 Mos
24 Mos
39 Mos
60 Mos
48 Mos
60 Mos
36 Mos
36 Mos
48 Mos
36 Mos
60 Mos
48 Mos
60 Mos
36 Mos
39 Mos
36 Mos
48 Mos
36 Mos
36 Mos
36 Mos
36 Mos
36 Mos
60 Mos
36 Mos
60 Mos
48 Mos
36 Mos
60 Mos
60 Mos
48 Mos
37 Mos
60 Mos
60 Mos
27 Mos
36 Mos
45 Mos
60 Mos
Maturity
Date
On Demand
On Demand
On Demand
On Demand
2/23/2020
2/23/2020
9/17/2019
11/3/2022
12/20/2021
41512022
5/28/2019
10/21/2019
12/20/2021
9/13/2019
7/12/2022
10nt2020
7/19/2022
8/19/2019
9/23/2019
5/6/2019
10/13/2020
6/14/2019
8/12/2019
6/14/2019
7/12/2019
8/23/2021
6/9/2022
6/10/2019
1/20/2022
10/13/2021
8/12/2019
1/18/2022
61712022
2/22/2022
2/17/2021
7/14/2022
1/20/2022
4/13/2020
7/15/2019
6/9/2020
3/21/2022
$
$
$
Market
Value
5,566,255
3.000
$ 31,449 002
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250,000
3,854.565
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
$ 5,566,255 0 00%
$ 0.25%
$ 3,000 0 00%
$ 31,449,002 1.94%
$ 250,000 1.75%
$ 3,854,565 1.60%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250,000 1.25%
250,000 2.20%
250,000 2.20%
250,000 2.45%
250,000 1 '15%
250,000 1 20%
250,000 2.15%
250,000 1 15%
250,000 2.20%
250,000 1.35%
250,000 2 05%
250,000 1 00%
250,000 1.20%
250,000 1.20%
250,000 1.40%
250,000 1.20%
250,000 1 00%
250,000 1 20%
250,000 1 05%
250,000 2.30%
250,000 2 05%
250,000 1 15%
250,000 2 00%
250,000 2 00%
250,000 1.15%
250,000 2.05%
250,000 2.10%
250,000 2.45%
250,000 2.15%
250,000 2 05%
250,000 2.00%
250,000 2 00%
250,000 1 00%
250,000 115%
250.000 2.45%
A-3
Treasury-Bank of New York(Vining Sparks)
CD -Bank of New York (Vining Sparks) Adj
Henry County Bank
OH
Independent
Bk/Memphis
lnduslriai&Com Bank
China
International Bk
Chicago
lsbella Bank
JP MORGAN
CHASE BANK
LCA Bank Corp
Lakeside Bank
Live Oak Banking
Company
Luana Savings Bank
Mercanlll Bank NA
Merrick Bank
Mid-Missouri Bank
Morgan Stanley
Bank NA
Morgan Stanley PVT
Bank
Morton Community
Northfiled Bank
Pacific Continental
Bank
Partners Bank
California
Peoples United Bank
Preferred Bank La
California
Sa llie Mae Bank/Sail
Lake
Signature Bank of
Arkansas
Signature Bk
Chicago
Southern Stales
Bank
Stearns Bank NA
Summit Community
Bank
Suntrust Bank
Synchrony Bank
Third Fed Sav&Ln
Clevland
Triad Bank
Umon Bank and
TrusVOX
United Community
Bk Ill
Washington Trust
Welerly
Whitney Bank/MS
Worlds Foremost
Bank
Yadkin Bank
Un1led Slates Treas
United Slates Treas
Un1led States Treas
426336BF9
45383USK2
45581EAF8
45906ABR7
464209CJ2
48121C8Q2
801798LK6
51210SMD6
538036CG7
549103WGO
58733AES4
59013JC23
59541 KBP1
61747MD73
61760ADT3
619165HP1
66612ABX5
69413CEU9
70212YAU6
71270QQJ8
740367EW3
795450ZF5
82669LGD9
82669VBY6
843879BB2
857894SD2
86604XML7
86789VUPO
87165HRY8
88413QBU1
89579NBP7
905200CE9
90983WBNO
940637 HW4
966594AW3
981571CV2
984308EG7
912828S76
912828TH3
912828XM7
1127/2017
11/16/2016
6/2/2017
10/20/2017
917/2016
2/15/2017
1/12/2018
1/13/2017
8/19/2016
7/8/2016
12/29/2017
10/11/2017
1/19/2018
12/21/2017
917/2017
1/19/2018
10/25/2017
5/31/2016
11/18/2016
1/18/2017
11/9/2016
10/12/2016
7/15/2016
11/8/2017
12/20/2017
1/13/2017
1/26/2018
8/29/2017
6/2/201 7
11/24/2017
6/2/2016
1/20/2017
10/12/2017
11 /18/2016
1/25/201 7
1/21/2017
9/19/2016
7/31 /2018
7/31/2018
7/31/2018
60 Mas
37 Mas
60 Mas
54 Mas
36 Mas
60 Mas
60 Mas
54 Mas
48 Mas
48 Mas
36Mos
60 Mas
60 Mas
36 Mas
24 Mas
36 Mas
60 Mos
36 Mas
36 Mas
60 Mas
36 Mos
36 Mas
48 Mas
60 Mas
40 Mas
36 Mas
30 Mos
60 Mas
60 Mas
48 Mas
46 Mas
30 Mas
54 Mas
36 Mas
36 Mas
36 Mas
36 Mos
36 Mas
12 Mas
24 Mas
1/27/2022
12/16/2019
6/2/2022
4/20/2022
9/9/2019
2/15/2022
1/12/2023
7/13/2021
8/19/2020
7/8/2020
12/29/2020
10/11/2022
1/19/2023
12/21/2020
9/9/2019
1/19/2021
10/25/2022
5/31/2019
11/18/2019
1/18/2022
11/8/2019
10/15/2019
7115/2020
11/8/2022
4/20/2021
1/13/2020
7/26/2021
8/29/2022
6/2/2022
11/24/2021
4/2/2020
7/22/2019
4/12/2022
11/18/2019
1/27/2020
1/21/2020
9/19/2019
7/31/2021
7/31/2019
7/31/2020
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
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
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
1,000,000
1,000,000
1.000.000
$ 20,950,000
Total Investment:
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250,000 1.90%
250,000 1.15%
250,000 2.05%
250,000 2.10%
250,000 1.15%
250,000 2.30%
250,000 2 35%
250,000 1.95%
250,000 1.25%
250,000 1.15%
250,000 2.20%
250,000 2 10%
250,000 2.35%
250.000 2 .15%
250,000 1.75%
250,000 2.15%
250,000 2 15%
250,000 1.10%
250,000 1.10%
250,000 2.05%
250,000 1.15%
250,000 1.30%
250,000 1 15%
250,000 2.15%
250,000 2.00%
250,000 1.60%
250,000 2.20%
250,000 1.80%
250.000 240%
250,000 2 .10%
250,000 1.25%
250,000 145%
250,000 2 .05%
250,000 1.35%
250,000 1.7 0%
200,000 1.75%
250,000 1.10%
$ 1,000,000 125%
$ 1,000,000 0.88%
$ 1,000,000 1.63%
$ (398,208)
$ 61 ,674 ,614
Total Investment Weighted Average Retum 1 66%
A-4
NOT E:
(1) See footnote on the summary page
SUMMARY OF CASH BALANCE BY INSTITUTION
JULY 2018
• Bank of the West 9%
• Malaga Bank -MMDA 0%
II State of California-LAIF 51%
•Malaga Bank -CD 7%
•vining Sparks/Bank of New York -CD 33%
(2) LAIF marl<et values will be reported to vary from book value ~the City calculated share of total LAIF assets is less then the
City book value.
To the best of my knowledge, there are no misstatements of material amounts w ithin 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 expend~IM'e requirements for the next six months.
Respectfully submitted,
~
Treasurer
A-5