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CC SR 20181204 D - Oct 2018 Treasurer ReportRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 12/04/2018 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA DESCRIPTION: Consideration and possible action regarding the October 2018 Cash Balances/Monthly Treasurer’s Report RECOMMENDED COUNCIL ACTION: (1) Receive and file the October 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 October 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 $59,790,922, with more than $26.6 million or 45% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $6.2 million or 10% of the total cash balance with Bank of the West, and over $4.1 million or 7% with Malaga Bank. In addition, the City has a total Certificates of Deposit (CD) investments and Treasury Bills over $22.8 million or 38% 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 $15.1 million or 25% in cash balance, and the Capital Improvement Projects (CIP) Fund has over $24.8 million or 42% 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 $1.8 million or 3% in the Quimby Fund, over 1 $7,900 or less than 1% in the Water Quality Fund, and over $12.3 million or 21% in Other Restricted Funds. The City’s cash balance decreased by $0.7 million from last month, and in comparison to the same period last year, the cash balance was in a better position. There were over $3 million in spending on capital projects in October 2017. The major disbursements for this month included Hardy & Harper for the Residential Street Rehab Improvement Project and Stay Green for park landscaping maintenance. 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 D ISBURSEMENTS(2) ADJUSTMENTS(3) PLUS: TRANSFERS IN LESS: TRANSFERS OUT ENDING BALANCE (1) All LAIF interest is paid quarterly. (2) Electronic Disbursements: Payroll Payroll Charges Sales Taxes Bank and Merchant Fees Bank of tho Wool OPERATING 7,127,548.25 2,274,083.11 (2 ,563,235.37) (619,782.79) 16,724.38 6 ,235,337.58 376,406.40 234,946.85 2,891 .00 5,538.54 619,782.79 C ITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT OCTOBER 2018 Malogo Bank OPERATING PETTY CASH LAIF.CITY 3,000.00 26,449,001.91 167,518.00 3,000.00 26,616,519.91 (3) The net adjustment was due to void checks, returned item, and deposit adjustment Malogo Bank YTOINT Non-Negotiable INVESTMENT co co TOTAL CASH RECEIVED 4 ,104,565.17 22,814,829.03 60,498,944.36 2,274,083.11 16,670.84 184,188.84 184,188.84 (2,563,235.37) (619,782.79) 16,724.38 4 ,1 21 ,236.0 1 22,814,829.03 59,790,922.53 184,188.84 OCTOBER 2018 CASH BALANCE BY MAJOR FUNDS .GENERAL FUND 25% .EQUIPMENT REPLACEMENT 4% .1911ACT3% D HAB ITAT RESTORATION 2% .Q UIMBY 3% •wATER QUALITY FLOOD PROTECTION 0% .OTHER RESTRICTED FUNDS 2 1% 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 PROTECTim REDEVELOPMENT OBLIGATION RETIR IMPROVEMENT DISTRICT 9 SPECIAL TRUSTS Subtotal GRAND TOTAL BALANCE FORWARD 15,410,915.68 329,837.97 25,549,181 .40 2 ,585,282.35 0.00 0.00 28,464,301 .72 162,132.49 27 ,843.08 30,057.94 29,992.84 0.00 2 ,054,658.99 454,672.27 65,185.54 672,273.68 1,820,101 .75 39,978.39 2 ,632,938.86 125,571.48 1,041 ,689.78 791 ,068.82 46,036.33 321 ,649.50 0.00 87 ,388.81 870,887.07 965,190.69 1,843,577.44 152,420.53 822,875.79 478,752.57 0.00 78,375.47 0.00 0.00 6 ,810.61 413,621 .48 0.00 587,974.76 16,623,726.96 60,498,944.36 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT OCTOBER 2018 DEBIT CREDIT CASH 4,407,087.63 4,684,757.00 15,133,246.31 1,235.21 106,862.90 224 ,210.28 75,209.15 764,461 .33 24,859,929.22 7 ,608.96 20,308.43 2,572 ,582.88 0 .00 0 .00 0 .00 0.00 0 .00 0.00 84,053.32 891,632.66 27,656,722.38 219,977.31 136,218.61 245,891 .19 83.63 0.00 27,926.71 89.75 125.06 30 ,022.63 0 .00 570.00 29,422.84 0.00 0 .00 0.00 8 ,252.11 27,810.91 2,035 ,1 00.19 17,399.62 22,864.14 449,207.75 205.39 0 .00 65,390.93 70,842.13 0 .00 743,115.8 1 89,152.12 498.05 1,908,755.82 62,212.43 0 .00 102,190.82 59 ,638.16 0 .00 2,692 ,577 .02 204,682.26 251 ,759.90 78,493.84 3,196.61 37,375.00 1,007,511 .39 2,370.54 8,043.66 785,395.70 30,181.79 0 .00 76,218.12 979.73 1,964.50 320,664 .73 0 .00 0.00 0.00 261 .00 0 .00 87,649.81 4,132.31 3,134.43 871 ,884 .95 37 ,519.70 0 .00 1,002,710.39 4,459.71 360.00 1,847 ,677.15 455.27 0 .00 152,87 5.80 2,460.34 0 .00 825,336.13 1,411.43 0 .00 480,164.00 0 .00 0 .00 0.00 276.28 0 .00 78,651 .75 0.00 0 .00 0.00 0.00 0.00 0.00 1,103.94 0 .00 7 ,9 14 .55 1,235.09 0 .00 414 ,856 .57 0 .00 0 .00 0 .00 108,889.7 5 63,517.26 633 ,347 .25 931,468.40 554,241.52 17,000,953.84 5,422,609.35 6 ,130,631 .18 59,790,922.53 Total Investment: 59,790,922 .53 Change In Ending Cash Balance (277,669.37 (1 05,627.69 (689,252.18 (12,699.47 0.00 0.00 (807,579.34) 83,758.70 83.63 (35.31 (570.00) 0.00 (19,558.80) (5,464.52 205.39 70,842.13 88,654.07 62,212.43 59,638.16 (47,077.64 (34,178.39) (5,673.12) 30,181.79 (984.77) 0.00 261 .00 997.88 37,519.70 4,099.71 455.27 2,460.34 1,411 .43 0.00 276.28 0.00 0.00 1,103.94 1,235.09 0.00 45,372.49 377,226.88 (708,021 .83) Change In Ending Cash Balance in o/c 0 -2% -32% -3% 0% 0% 0% -3% 52% 0% 0% -2% 0% -1% -1% 0% 11 % 5% 156% 2% -37% -3% -1% 66% 0% 0% 0% 0% 4% 0% 0% 0% 0% 0% 0% 0% 0% 16% 0% 0% 8% 2% -1% 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 Capital One NA Capstone Bank Carroll County State Bank Iowa Celtic Bank Commumty Finl SVCS Bank Continental Bank UT Crossfirst Bank Discover Bank East Boston SaVIngs Bank Enerbank USA Everbank I Jacksonville FL F armers&Merchants BK NEB First Bank of Highland First Financ1al Bank First Federal SVGS Bank First Internet Bank of In First National Bank of America First Nat'l Bank Michigan First 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 OCTOBER 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 7/15/20t6 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 36Mos 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 1118/2022 617/2022 2/22/2022 2/17/2021 7/14/2022 1/20/2022 4/13/2020 7/15/2019 6/9/2020 3/2112022 Market Value $ 6,235 ,338 $ $ 3,000 $ 26 ,616 ,520 $ 250,000 $ 3,871 ,236 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 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 $ 6,235,338 0.00% $ 0.25% $ 3,000 0.00% $ 26,616,520 2.14% $ 250,000 1.75% $ 3,871 ,236 1.60% $ 250,000 1.25% $ 250 ,000 2.20% $ 250,000 2.20% $ 250,000 2.45% $ 250,000 115% $ 250,000 1.20% $ 250,000 2.15% $ 250,000 115% $ $ 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% $ 250,000 115% $ 250,000 2 00% $ 250,000 2 00% $ 250 ,000 115% $ 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 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 Mercanlll Bank NA Mernck 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 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 Wash1ngton Trust Weterly Whitney Bank/MS Worlds Foremost Bank Yadkin Bank United States Treas United States Treas United States Treas United States Treas United States Treas 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 912828S76 912828TH3 912828WS5 912828XM7 112712017 11/16/2016 6/2/20 17 1012012017 9/7/2016 2/15/2017 1/12/2018 1113/2017 8/19/2016 7/8/2016 12/29/2017 10/11/2017 1/19/2018 12/21/2017 9/7/2017 1/19/2018 10/25/2017 5/31/2016 11118/2016 1118/2017 11/9/2016 10/12/2016 7/1512016 11/8/2017 12/20/2017 1/13/2017 1126/2018 8/29/2017 6/2/2017 11/24/2017 6/2/2016 1/20/2017 10/12/2017 11 /18/2016 1125/2017 1121/2017 9/19/20 16 8/3/2018 8/3/2018 7/31/2018 7/31/2018 8/24/2018 713112018 60 Mas 37 Mas 60Mos 54 Mas 36 Mas 60 Mas 60 Mas 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 36Mos 48 Mas 60 Mas 40 Mas 36 Mas 30 Mas 60 Mas 60 Mas 48 Mas 46 Mas 30Mos 54 Mas 36 Mas 36 Mas 36Mos 36 Mas 12 Mas 12 Mas 36 Mas 12 Mas 10Mos 24 Mas 1/27/2022 12/16/2019 61212022 4/20/2022 91912019 2/1512022 1/1212023 711312021 8/19/2020 7/812020 12/29/2020 10/1112022 111912023 1212112020 91912019 111912021 1012512022 5131/2019 11/18/2019 111812022 1118/2019 1011512019 711512020 111812022 412012021 111312020 7/26/2021 8/2912022 61212022 1112412021 4/2/2020 7122/2019 4112/2022 1111812019 112712020 112112020 911912019 813112019 813112019 713112021 713112019 613012019 7/3112020 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 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 1.15% $ 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',1, $ 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 1.60% $ 250,000 2.40% $ 250,000 2.10% $ 250,000 1.25% $ 250,000 1.45% $ 250,000 2 05% $ 250,000 135% $ 250,000 1.70% $ 200,000 1.75% $ 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% $ (135,171) $ 59,790,922 Total Investment Weighted Average Return 1 69% A-4 NOTE: (1) See footnote on the summary page SUMMARY OF CASH BALANCE BY INSTITUTION OCTOBER 2018 •Bank of the West 10% • Malaga Bank • MMDA 0% •state of Californ ia -LA IF 45% •Malaga Bank -CD 7% •Vining Sparks/Bank of New York-CD 38% (2) LAIF marl<et values will be reported to vary from book value ~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 certity that this re port accurately reflects all City investments end complies with the investment policy of the Crty of Rancho Palos Verdes as approved by the City Council. Furthermore, I certity that sufficient investment liquidity and anticipated revenues are available to meet the City's expenditure requirements for the next six months. A-5