CC SR 20181002 F - Aug 2018 Treasurer Report-CityRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 10/02/2018
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the August 2018 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the August 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
August 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 $61,825,231, 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 $3.7 million or 6% 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 $22.4 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 $17.6 million or 29% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $24.7 million or 40% 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 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 $11.8 million or 19% in Other
Restricted Funds.
The City’s cash balance increased by $150,617 from last month, and in comparison to
the same period last year, the cash balance from this year was improved by $0.3
million. The major variance included disbursements from the General Fund, Street
Maintenance Fund, Prop A Fund, and Special Trust Deposit Fund. The major
disbursements included Aleshire & Wynder, LLP for the legal services; Palos Verdes
Peninsula Transit Authority for the first payment of FY18-19; and Interwest Consulting
Group for the inspection services and staff support services. All other operating
expenditures were disbursed in accordance with the FY18-19 budget.
2
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DISBU RSEMENTS
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
GASB 68 Report
Postage
Bank and Merchant Fees
Bank
ol theWeot
OPERATING
5 ,566,254.99
2,889,434.17
(2,177,432.73)
(613,717.64)
52,333.34
(1,940,945.35)
3,775,926.78
367,754.17
237,164.70
1,050.00
2,500.00
5,248.77
613,717.64
(3) The net adjustment was due to void checks and deposit adjustment.
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
A UGUST 2018
Malaga
Bank
OPERATING PETTY CASH
3,000.00
3 ,000.00
LAIF-GITY
31 ,449,001.91
31,449,001.91
Molllgo YTDINT
Bank INVESTMENT
CD CD TOTAL CASH RECEIVED
4,104,565.17 20,551 '791 .60 61 ,674,613.67
2,889,434.17
130,468.99
(2, 177,432.73)
(613,717.64)
52,333.34
1,940,945.35 1,940,945.35
(1 ,940,945.35)
4,104,565.17 22,492,736.95 61 ,825,230.81 130,468.99
AUGUST 2018 CASH BALANCE BY MAJOR FUNDS
.GENERAL FUND 29%
•c iP40%
• EQU IPMENT REPLACEM ENT 4%
.1911 ACT3%
CHABITAT RESTORATION 2%
.QUIMBY2%
II WATE R QUALITY 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 by Law or External Agencies
STREET MAINTENANCE
1972 ACT
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 OBLIGATION RETIR
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
17,330,693.70
453 ,637.94
24 ,836,546 .39
2,487,396.89
0.00
2 ,294.16
27,779,875.38
(148 ,818.43)
26,885.78
29 ,808.59
(55 ,391. 76)
0.00
2 ,108,743.69
439 ,711.85
75 ,496.40
543 ,524 .17
2,185,987.61
71 ,728.95
2,513 ,201.00
52,744.04
1,120,164.91
791 ,514.36
67,834.29
329 ,439 .82
0.00
86,743.31
880 ,203 .22
1,017 ,903.81
1,307 ,157.38
151,317.32
818,163.88
460,159.79
0.00
49,650 .60
0.00
0.00
548 ,311.15
410,448 .37
0.00
681,410.49
16,564,044.59
61 ,674,613.67
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 2018
DEBIT CREDIT CASH
6 ,132,197.97 5,766,687.41 17,696,204.26
0.00 2 ,475 .00 451 ,162.94
0.00 47 ,936.16 24 ,788 ,610.23
45,403.00 42.79 2 ,532 ,757.10
0.00 0 .00 0.00
0.00 3,071 .06 (776.90)
45,403.00 53,525.01 27,771,753 .37
135,647 .35 207 ,156.46 (220 ,327.54)
1,981.52 0 .00 28 ,867 .30
98 .99 64 .90 29 ,842.68
27 ,391.00 15 ,480.87 (43 ,481.63)
0 .00 0.00 0 00
25 ,465.60 47 ,639 .99 2 ,086 ,569.30
22,092 .29 15,212 .53 446 ,591.61
14 ,118 .59 25 ,000.00 64 ,614.99
51,946.74 4 ,697 .00 590 ,773 .91
62,625 .72 339 ,121.86 1,909 ,491.47
0 .00 0 .00 71 ,728 .95
38 ,966.70 0 .00 2 ,552 ,167 .70
68 ,587.59 15 ,322.72 106,008 .91
0 .00 86,885 .00 1,033 ,279 .91
1,463 .14 6 ,117.37 786 ,860 .13
0.00 0.00 67 ,834 .29
12.62 1,264.82 328,187 .62
0 .00 0.00 0 .00
0.00 0.00 86 ,743 .31
1,500.00 1,7 05.15 879 ,998 .07
181,644.32 0.00 1,199 ,548 .13
0.00 250.00 1,306 ,907 .38
0.00 0.00 15 1,317.32
0.00 0 .00 818,163 .88
11,706.00 0.00 471 ,865 .79
0.00 0.00 0.00
0.00 0 .00 49 ,650 .60
0.00 0.00 0.00
0 .00 0.00 0.00
0 .00 0 .00 548 ,311.15
0.00 0 .00 410,448 .37
0 .00 0.00 0.00
39,900 .39 126 ,001 .30 595,309.58
685,148 .56 891 ,919.97 16,357 ,273.18
6,862,749.53 6 ,712,132.39 61,825 ,230.81
Total Investment: 61 ,825 ,230.81
Change In
Ending Cash
Balance
365 ,510.56
{2 ,475.00
(47 ,936.16)
45 ,360.21
0 .00
(3 ,071 .06
(8 ,122.01
(71 ,509 .11
1,981 .52
34.09
11,910 .13
0.00
(22 ,174 .39
6 ,879.76
(10,881 .41
47 ,249.74
(276 ,496.14)
0.00
38 ,966.70
53 ,264 .87
(86 ,885.00
(4 ,654 .23
0.00
(1 ,252.20
0 .00
0 .00
(205 .15
181 ,644 .32
(250 .00)
0 .00
0.00
11 ,706 .00
0 .00
0 .00
0.00
0 .00
0 .00
0.00
0.00
(86 ,100.91
(206 ,771 .41
150,617.14
Change In
Ending Cash
Balance in %
2%
-1 %
0%
2%
0%
-134%
0%
-48%
7%
0%
22%
0%
-1%
2%
-14 %
9%
-13 %
0%
2%
101 %
-8 %
-1%
0%
0%
0%
0%
0%
18%
0%
0%
0%
3%
0%
0%
0%
0%
0%
0%
0%
-13%
-1 %
0%
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 (V1ning Sparks)
Malaga Bank
Malaga Bank
Abacus Federal
Sav1ngs Bank
Alleg1ance Bank
Texas
American Express
Bank FSB
American Express
Centurion
BMW Bank North
America
Bank of New
England NH
Bankers Bank
Madison WI
Bankers Bank of the
West
Barclays Bank
Delaware
Beneficial Bank
Bus1ness Bk of St
Louis
Caldwell Bank &
Trust Co
Cap1tal Bank L1ttle
Rock
Cap1tal One Bank
USA
Cap1tal One NA
Capstone Bank
Carroll County State
Bank Iowa
Celtic Bank
Community Finl
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
H1ghland
First Financial Bank
First Federal SVGS
Bank
Flfst Internet Bank of
In
First Nat1onal Bank
of America
First Nat'l Bank
Michigan
F~rst Western Bank
Gold Cast
Bank/Chicago
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
32110Y JT3
32114VBJ5
33749VAG3
38058KDM5
40434YGK7
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 2018
Acquisition
Date
N/A
N/A
N/A
N/A
2/23/2018
2/23/2018
6/20/2016
11/3/2017
12/19/2017
3/21/2017
5/27/2016
10/21/2016
12/20/2017
9/14/2016
7/12/2017
1017/2016
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
617/2017
2/21/2018
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 Mas
24 Mas
39 Mas
60 Mas
48 Mas
60 Mas
36 Mas
36 Mas
48 Mas
36 Mas
60 Mas
48 Mas
60 Mas
36 Mas
39 Mas
36 Mas
48 Mas
36 Mas
36 Mas
36 Mas
36 Mas
36 Mas
60 Mas
36 Mas
60 Mas
48 Mas
36 Mas
60 Mas
60 Mas
48 Mas
37 Mas
60 Mas
60 Mas
27 Mas
36 Mas
45 Mas
60 Mas
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
4/5/2022
5/28/2019
10/21/2019
12/20/2021
9/13/2019
7/12/2022
1017/2020
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
617/2022
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
3,775,927
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
$ 3,775,927 0.00%
$ 025%
$ 3,000 0.00%
$ 31,449,002 2 00%
$ 250,000 175%
$ 3,854,565 1.60%
$ 250,000 125%
$ 250,000 2 20%
$ 250,000 2 20%
$ 250,000 245%
$ 250,000 115%
$ 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%
$ 250,000 140%
$ 250,000 1.20%
$ 250,000 1 00%
$ 250,000 1.20%
$ 250,000 1 05%
$ 250,000 2.30%
$ 250,000 2 05%
$ 250,000 115%
$ 250,000 2 00%
$ 250,000 2 00%
$ 250,000 1 15%
$ 250,000 2.05%
$ 250,000 2.10%
$ 250,000 245%
$ 250,000 2 15%
$ 250,000 2.05%
$ 250,000 2 00%
$ 250,000 2 00%
$ 250,000 1 00%
$ 250,000 115%
$ 250,000 245%
A-3
Treasury-Bank of New York(Vining Sparks)
CD -Bank of New York (V1mng Sparks) Adj
Henry County Bank
OH
Independent
Bk/Memphis
lndustriai&Com Bank
China
International Bk
Chicago
lsbella Bank
JP MORGAN
CHASE BANK
LCA Bank Corp
Lakeside Bank
Live Oak Banking
Company
Luana Savings Bank
Mercant1l Bank NA
Memck Bank
Mid-Missouri Bank
Morgan Stanley
Bank NA
Morgan Stanley PVT
Bank
Morton Community
Northfiled Bank
Pacific Continenta l
Bank
Partners Bank
California
Peoples United Bank
Preferred Bank La
California
Sallie Mae Bank/Salt
Lake
Signature Bank of
Arkansas
Signature Bk
Chicago
Southern States
Bank
Stearns Bank NA
Summit Community
Bank
Suntrust Bank
Synchrony Bank
Third Fed Sav&Ln
Clevland
Triad Bank
Union Bank and
TrusVOX
United Community
Bk Ill
Washington Trust
Weterly
Whitney Bank/MS
Worlds Foremost
Bank
Yadkin Bank
United States Treas
United States Treas
Un1ted States Treas
United States Treas
Uniled St ates T reas
United States Treas
426336BF9
45383USK2
45581EAF8
45906ABR7
464209CJ2
48121C8Q2
801798LK6
51210SMD6
538036CG7
549103WGO
58733AES4
59013JC23
59541KBP1
61747MD73
61760ADT3
619165HP1
66612ABX5
69413CEU9
70212YAU6
71270QQJ8
740367EW3
795450ZF5
82669LGD9
82669VBY6
843879BB2
857894SD2
86604XML7
86789VUPO
87165HRY8
88413QBU1
89579NBP7
905200CE9
90983WBNO
940637HW4
966594AW3
981571CV2
984308EG7
9128282T6
912828080
91 2828S76
912828TH3
912828WS5
912828XM7
112712017
11 11612016
61212017
1012012017
91712016
211512017
111212018
1/1312017
811912016
71812016
1212912017
1011112017
111912018
1212112017
91712017
111912018
1012512017
5131 12016
1111812016
111812017
111912016
10112/20 16
711512016
111812017
1212012017
111312017
112612018
812912017
61212017
11 12412017
61212016
1/20/2017
10/1212017
1111 812016
112512017
1/21/2017
9/19/2016
8/3/2018
8/3/2018
7/31 /2018
7/31 12018
8/24/2018
7/31 /2018
60 Mos
37 Mos
60Mos
54 Mos
36 Mos
60 Mos
60 Mos
54 Mos
48 Mos
48 Mos
36 Mos
60 Mos
60 Mos
36 Mos
24 Mos
36 Mos
60 Mos
36 Mos
36 Mos
60 Mos
36 Mos
36 Mos
48 Mos
60 Mos
40 Mos
36 Mos
30 Mos
60 Mos
60 Mos
48 Mos
46 Mos
30Mos
54 Mos
36 Mos
36 Mos
36Mos
36 Mos
12 Mos
12 Mos
36 Mos
12 Mos
10Mos
24 Mos
1/27/2022
1211612019
61212022
4/20/2022
9/912019
2/15/2022
1/12/2023
711312021
8/19/2020
7/812020
12/29/2020
10/11/2022
1/19/2023
12/2112020
9/9/2019
1/19/2021
1012512022
5131/2019
11/1812019
1/1812022
111812019
10/15/2019
7/15/2020
11/8/2022
4/2012021
1/13/2020
7/261202 1
812912022
612/2022
1112412021
41212020
7/22/2019
4112/2022
11/18/2019
1/2712020
1/21/2020
9/1912019
8/31/2019
8/3112019
7/3112021
71 31/2019
6/30/2019
713 1/2020
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
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
500.000
500,000
1,000.000
1,000.000
1,000.000
1,000,000
$ 22,950,000
Total Investment:
$ 250,000 1.90%
$ 250,000 1.1 S'lo
$ 250,000 2.05%
$ 250,000 2 .10%
$ 250,000 1.15%
$ 250,000 2.30'A>
$ 250,000 2.35%
$ 250,000 1.95%
$ 250,000 1.25%
$ 250,000 1.15'A>
$ 250' 000 2.20%
$ 250,000 2 .10%
$ 250,000 2 .35%
$ 250,000 2 .15%
$ 250,000 175%
$ 250,000 2.15%
$ 250,000 2.15%
$ 250,000 1.10%
$ 250.000 1.10'A>
$ 250,000 2.05%
$ 250,000 115%
$ 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 2.40%
$ 250,000 2.10%
$ 250,000 1.25%
$ 250,000 1.45%
$ 250,000 2 OS%
$ 250,000 1.35%
$ 250 ,000 1.70%
$ 200,000 1.75%
$ 250,000 1.10%
$ 500,000 125%
$ 500,000 1 63%
$ 1,000,000 1.25%
$ 1,000,000 0.88 %
$ 1,000,000 1.63%
$ 1,000,000 1.63%
$ (457 ,263)
$ 6 1,825,230
Total Investment Weighted Average Retum 1. 73%
A-4
NOTE:
(1) See footnote on the summary page
SUMMARY OF CASH BALANCE BY INSTITUTION
AUGUST 2018
•Bank of the West 6%
• Malaga Bank -MMOA 0%
a State of California -LA IF 51%
•Malaga Bank-CO 7%
•vining Sparks/Bank of New York -CO 36%
(2) LAIF mar1<et values will be reported to vary from book value if the City calculated share of totallAIF 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 mate rial amounts to cause the report to be misleading.
I certify that this report accurately reflects all City investments and oomplies with tha 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,
A-5