CC SR 20181107 H - September 2018 Treasurer ReportRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 11/07/2018
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the September 2018 Cash
Balances/Monthly Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the September 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
September 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 $60,498,944, with more than $26.4 million
or 44% of the total cash balance in the Local Agency Investment Fund (LAIF). The City
has more than $7.1 million or 12% 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 and Treasury Bills of over $22.8 million or 37% 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 $15.4 million or 25% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $25.5 million or 42% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.6 million or 4%, over $2 million or 3% in the 1911 Act Fund, over $1 million or
2% in the Habitat Restoration Fund, over $1.8 million or 3% in the Quimby Fund, over
1
$6,000 or less than 1% in the Water Quality Fund, and over $12 million or 20% 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 decreased by $0.16 million. The major
variance included disbursements from the General Fund, Capital Improvement Fund,
and Water Quality Flood Protection Fund. The major disbursements included American
Asphalt for the Residential Street Rehab Project, Metrocell for the Hawthorne Boulevard
Arterial Beautification Project, Sully-Miller for the Residential Street Rehab Improvement
Project, and Colich & Sons, LP and G.B. Cooke for the Storm Drain Deficiency
Improvement Project. All other operating expenditures were disbursed in accordance
with the FY18-19 budget.
2
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(!)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
(1) AIILAIF interest is paid quarterly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
Postage
Bank and Merchant Fees
Bank
of theW.!
OPERATING
3 ,n5,926.78
2,156,193.21
(3,226,516.11)
(625, 783.56)
47,727.93
5 ,000,000.00
7 ,127,548.25
378,651 .74
238,421 .34
2 ,500.00
6,210.48
625,783.56
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2018
M1loga
Bank
OPERATING PETTYCABH LAIF.crTY
3,000.00 31 ,449,001 .91
(5 ,000,000.00)
3,000.00 26,449,001 .91
(3) The net adjustment was due to void checks, returned ~em, and deposit adjustment.
M1llga Bank YTDINT
Non-tolegotilble INVESTMENT
co CD TOTALCABH RECEIVED
4,104,565.17 22,492,736.95 61 ,825,230.81
2,156,193.21
(3,226,516.11)
(625,783.56)
322,092.08 369,820.01
5,000,000.00
(5,000,000.00)
4,104,565.1 7 22,814,829.03 50,498,944.36
SEPTEMBER 2018 CASH BALANCE BY MAJOR FUNDS
.GENERAL FUND 25%
.EQUIPMENT REPLACEM ENT 4%
.1911 ACT3%
D HABITAT RESTORATION 2%
.QUIMBY3%
.WATER QUALITY FLOOD PROTECTION 0%
.OTHER RESTRICTED FUNDS 20%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Sublotal
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 RESTORAT ION
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
GRAND TOTAL
BALANCE
FORWARD
17,696,204.26
451 ,1 62 .94
24,788,610.23
2,532,757.10
0 .00
(776.90
27,771,753.37
(220 ,327.54
28,867.30
29,842.68
(43,481 .63
0.00
2,086,569.30
446,591 .61
64 ,6 14.99
590,773 .91
1,909,491 .47
71 ,728.95
2,552,167.70
106,008 .91
1,033,279.91
786,860.13
67,834 .29
328 ,187.62
0 .00
86,743.31
879,998.07
1,199,548 .13
1,306,907 .38
151 ,317 .32
818,163.88
471 ,865.79
0.00
49,650.60
0.00
0.00
548,311.15
410,448.37
0.00
595,309.58
16,357,273.18
61 ,825,230.81
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2018
DEBIT CREDIT CASH
9,557,522.30 11,842,810.88 15,410,915.68
3 ,465.13 124,790.10 329,837.97
1,267,817 .21 507,246.04 25,549,181.40
93,689.06 41 ,163.81 2,585,282.35
0.00 0.00 0 .00
776.90 0.00 0 .00
1,365,748.30 673,199.95 28,464,301 .72
473,429 .70 90,969.67 162,132.49
54 .97 1,079.19 27,843.08
215.26 0 .00 30,057 .94
73,474.47 0.00 29,992.84
0 .00 0.00 0.00
15,584 .98 47,495.29 2,054,658 .99
40,651 .53 32 ,570.87 454,672.27
570 .55 0.00 65,185.54
81 ,499.77 0.00 672,273 .68
96,070.36 185,460.08 1,820,101.75
749.44 32,500.00 39,978.39
80 ,771 .16 0.00 2 ,632,938 .86
57 ,441 .20 37 ,878.63 125.571 .48
8,409 .87 0.00 1,041 ,689 .78
7,268.81 3,060.12 791 ,068 .82
702.04 22,500.00 46,036.33
1,914 .25 8,452.37 321 ,649.50
0 .00 0.00 0 .00
645.50 0.00 87 ,388.81
18,120.19 27 ,231.19 870,887 .07
2,109.16 236,466.60 965,190.69
539,901 .74 3,231 .68 1,843,577.44
1,103.21 0.00 152,420.53
4 ,711 .91 0.00 822,875.79
6,886 .78 0.00 478,752 .57
0 .00 0.00 0 .00
32,849.88 4,125.01 78,375.47
0 .00 0.00 0.00
0 .00 0.00 0 .00
14,418.04 555,918.58 6,810 .61
3,173.11 0.00 4 13,621 .48
0 .00 0.00 0.00
46,443.50 53 ,778.32 587,974 .76
1,609,171 .38 1,342,717.60 16,623,726.96
12,532,441 .98 13,858,728.43 60,498,944.36
Total Investment: 60,498,944.36
Change In
Ending Cash
Balance
(2,285,288.58
(121 ,324.97
760,571 .17
52,525.25
0.00
776.90
692,548.35
382,460.03
(1,024.22
215.26
73,474.47
0 .00
(31 ,910.31
8,080.66
570.55
81,499.77
(89,389.72
(31 ,750.56
80,771 .16
19,562.57
8 ,409.87
4 ,208.69
{_21 ,797.96
(6 ,538.12
0.00
645.50
(9,111 .00
(234 ,357.44
536,670.06
1.103.21
4 ,711 .91
6 ,886.78
0 .00
28,724 .87
0 .00
0 .00
(541 ,500.54)
3,173.11
0 .00
(7,334.82)
266,453.78
(1 ,326,286.45)
Change In
Ending Cash
Balance in%
-13%
-27%
3%
2%
0%
100%
2%
174%
-4%
1%
169%
0%
-2%
2%
1%
14%
-5%
-44%
3%
18%
1%
1%
-32%
-2%
0%
1%
-1 %
-20%
41 %
1%
1%
1%
0%
58%
0%
0%
-99%
1%
0%
-1%
2%
-2%
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 Malaga Bank
CD Malaga Bank
CD-Bank of New York -Vining Sparks (Non-Abacus Federal
Negotiable) Savings Bank
Allegiance 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
Business Bk of St
Louis
Caldwell Bank &
Trust Co
Capital Bank Little
Rock
Capital One Bank
USA
Capita l One NA
Capstone Bank
Carroll County State
Bank Iowa
Celtic Bank
Community Fin l
SVCS Bank
Continental Bank UT
Crossfirst Bank
D1scover Bank
East Boston Savings
Bank
Enerbank USA
Everbank I
Jacksonville FL
F armers&Merchants
BKNEB
F~rst Bank of
Highland
First Financial Bank
First Federal SVGS
Bank
First Internet Bank of
In
First National Bank
of America
First Nat' I Ba nk
Michigan
First Western Bank
Gold Cast
Bank/Chicago
HSB C Bank USA
CUSIPI
00257TAUO
01748DAY2
02587CHR4
02587DN38
05580AER1
063847AM9
06610RAT6
06610TDN2
06740KKD8
08173QBT2
12325EHV7
128829ADO
139797 FRO
140420YN4
14042RDA6
14069TAH8
145067AF9
15116RPC9
20364ABW4
211163GYO
22766ABBO
254672ZB7
2711 3 PBM2
29266N6P7
29976DQ78
30781TBD9
319141GE 1
32021 MFC8
32031YCD4
32056GCQ1
32110YJT3
32114VBJ5
337 49VAG3
36058KDM5
40434YGK7
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 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
5/2 7/2016
10/21/2016
12/20/2017
9/14/2016
7/12/201 7
1017/2016
7/19/2017
6/19/2016
6/22/2016
5/4/2016
10/13/2016
6/15/2016
8/12/2016
6/1 5/2016
7/12/2016
2/23/2018
6/9/2017
6/8/2016
1/20/2017
10/13/201 7
8/12/2016
1/18/2017
617/201 7
2/21/2016
1/17/2016
7/14/2017
1/20/2017
1/1 2/2016
7/15/2016
9/9/2016
3/21/2017
Term
N/A
N/A
N/A
N/A
24 Mos
24 Mos
39 Mos
60Mos
46 Mos
60 Mos
36 Mos
36 Mos
46Mos
36 Mos
60 Mos
46Mos
60 Mos
36 Mos
39 Mos
36 Mos
48 Mos
36Mos
36 Mos
36 Mos
36Mos
36 Mos
60 Mos
36 Mos
60Mos
48 Mos
36 Mos
60 Mos
60 Mos
48 Mos
37 Mos
60 Mos
60Mos
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
4/5/2022
5/26/2019
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
6/12/2019
6/14/2019
7/12/2019
6/23/2021
6/9/2022
6/10/2019
1/20/2022
10/13/2021
6/12/2019
1/18/2022
617/2022
212212022
2/17/2021
7/14/2022
1/20/2022
4/13/2020
7/15/2019
6/9/2020
3/21/2022
$
$
$
Marttet
Value
7.1 27.548
3,000
$ 26,449.002
$ 250.000
$ 3,654,565
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
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 Spartts
Cash
N/A
N/A
N/A
N/A
Book
Value Yield
$ 7.127,548 0.00%
$ 0.25%
$ 3,000 0 .00%
$ 26,449,002 2 .06%
$ 250,000 1.75%
$ 3,854,565 1.60%
$ 250,000 1.25%
$ 250,000 2.20%
$ 250,000 2.20%
$ 250,000 245%
$ 250,000 115%
$ 250.000 1.20%
$ 250,000 2.15'A.
$ 250,000 1.15%
$ 250,000 2.20'A.
$ 250,000 1.35%
$ 250,000 2.05%
$ 250,000 1.00'A.
$ 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%
$ 2 50,000 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'A.
$ 250,000 1.15%
$ 250,000 245%
A-3
Treasury-Bank of New York(Vining Sparks)
CD -Bank of New York (Vining Sparks) Adj
Henry County Bank
OH
Independent
Bk/Memph1s
lndustriai&Com Bank
Ch1na
International Bk
Chicago
lsbella Bank
JP MORGAN
CHASE BANK
LCA Bank Corp
Lakeside Bank
Live Oak Banking
Company
Luana Savings Bank
Mercantil Bank NA
Merrick Bank
Mid-Missouri Bank
Morgan Stanley
Bank NA
Morgan Stanley PVT
Bank
Morton Community
Northfiled Bank
Pacific Continental
Bank
Partners Bank
Californ ia
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
Summ1t Community
Bank
Suntrust Bank
Synchrony Bank
Third Fed Sav&Ln
Clevland
Triad Bank
Union Bank and
TrusUOX
United Community
Bk Ill
Washington Trust
Weterly
Whitney Bank/MS
Worlds Foremost
Bank
Yadkin Bank
United States Treas
United States T reas
United States Treas
Un1ted States Treas
United States Treas
United States Treas
426336BF9
45383USK2
45581EAF8
45906ABR7
464209CJ2
48121C8Q2
801798LK6
51210SMD6
538036CG7
549103WGO
58733AES4
59013JC23
59541KBP1
61747M073
61760ADT3
619165HP1
66612ABX5
69413CEU9
70212YAU6
71270QQJ8
740367EW3
795450ZF5
82669LG09
82669VBY6
843879BB2
857894SD2
86604XML7
86789VUPO
87165HRY8
88413QBU1
89579NBP7
905200CE9
90983WBNO
940637HW4
966594AW3
981571CV2
984308EG7
9128282T6
912828080
912828S76
912828TH3
912828WS5
912828XM7
1/27/2017
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
1119/2018
12/21/201 7
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
6/2/2017
11 /24/2017
6/2/2016
1/20/2017
10/12/2017
11 /18/2016
1/25/2017
1/21/2017
9/19/2016
8/3/2018
8/3/2018
7/3112018
7/31 /2 018
8/24/2018
7/31/20 18
60 Mas
37 Mas
60 Mas
54 Mas
36 Mas
60 Mas
60Mos
54 Mas
48 Mas
48 Mas
36 Mas
60 Mas
60 Mas
36 Mas
24 Mas
36 Mas
60 Mas
36 Mas
36 Mas
60 Mas
36 Mas
36 Mas
48 Mas
60 Mas
40Mos
36 Mas
30 Mas
60 Mas
60 Mas
48 Mas
46 Mas
30 Mas
54 Mas
36 Mas
36Mos
36 Mas
36 Mas
12 Mas
12 Mas
36Mos
12 Mas
10 Mas
24 Mas
1/27/2022
12/16/2019
6/2/2022
4/20/2022
9/9/2019
2/15/2022
1112/2023
7/13/2021
8/19/2020
7/8/2020
12/29/2020
10/11 /2022
1/1 912023
12/21 /2020
9/9/2019
1/19/2021
10/25/2022
5/31/20 19
11/18/20 19
1/18/2022
11/8/2019
10/15/2019
7/15/2020
11/8/2022
4/20/202 1
1113/2020
7/26/2021
8/29/2022
61212022
11 /24/2021
4/2/2020
7/22/2019
4/12/2022
11118/2 019
1/27/2020
1121 /2020
9/1 9/2 019
8131 /2019
8/31/2019
7/31 /2021
7/31 /2019
6/30/2019
7/3 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'-'>
250,000 115%
250,000 2 05%
$ 250,000 2 10%
$ 250,000 115'-'>
$ 250,000 2.30%
$ 250,000 2.35%
$ 250,000 1.95'-'>
$ 250,000 1.25%
$ 250,000 115%
$ 250,000 2 20%
$ 250,000 2 .10%
$ 250,000 2.35%
$ 250,000 215%
$ 250,000 175%
$ 250,000 2 .15%
$ 250,000 2 .15%
$ 250,000 1.10%
$ 250,000 1.10%
$ 250,000 2 05%
$ 250,000 115°-'>
$ 250,000 1.30%
$ 250,000 115%
$ 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 .05'-'>
$ 250,000 1.35%
$ 250,000 170%
$ 200,000 175%
$ 250,000 1.10'-'>
$ 500,000 1.25%
$ 500,000 1.63%
$ 1.000,000 1.25%
$ 1,000,000 0 .88%
$ 1,000,000 1 63%
$ 1,000,000 1.63'-'>
$ (1 35,171)
$ 60,498,944
Total Investment Weighted Average Return 1.63%
A-4
NOTE:
(1) See footnote on the summary page
SUMMARY OF CASH BALANCE BY INSTITUTION
SEPTEMBER 2018
•Bank of the West 12%
• Malaga Bank -MMDA 0%
•state of California -LAIF 44%
•Mala ga Bank -CD 7%
•vining Sparks/Bank of New York -CD 38%
(2) LAIF market values will be reported to vary from book value ~the City calculated share of totallAIF assets is less than the
City book value.
To the best of my knowtadge, there are no misstatements of material amounts within this repon;
or omissions of material amounts to cause the report to be misleading.
I certify that this repott accurately reflects all City investments and complies with the investment policy of the City
of Rancho Palos Verdes as approved by the City Council. Funhermore, I canify 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