CC SR 20190219 E - December 2018 Treasurer Report - CityRANCHO PALOS VERDES CITY COUNCIL
AGENDA REPORT
MEETING DATE: 2/19/2019
AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the December 2018 Cash
Balances/Monthly Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the December 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
December 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 $62,038,566, with more than $26.6 million
or 43% of the total cash balance in the Local Agency Investment Fund (LAIF). The City
has more than $8.4 million or 14% of the total cash balance with Bank of the West, and
over $4.1 million or 6% with Malaga Bank. In addition, the City has Certificates of
Deposit (CD) investments over $17.9 million or 29% and Treasury Bills in the amount of
$5 million or 8% of the total cash balance. The CD and securities are held by the Bank
of New York and are FDIC insured.
In summary, the City’s General Fund has over $16.4 million or 26% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $25.5 million or 41% 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 $1.1 million or
1
2% in the Habitat Restoration Fund, over $1.8 million or 3% in the Quimby Fund, and
over $12.3 million or 20% in Other Restricted Funds.
The City’s cash balance increased by $3.3 million from last month, and in comparison to
the same period last year, the cash balance improved over $3 million. There variance
was due to the timing of disbursements for City projects. The major disbursements for
this month included Roy Allan Slurry Seal for the Residential Rehab Project and Fence
Corporation for the Coastal Bluff Fencing Project. All other operating expenditures were
disbursed in accordance with the FY18-19 budget.
2
Bank Malaga Malaga Bank YTD INT
of the West Bank Non-Negotiable INVESTMENT
OPERATING OPERATING PETTY CASH LAIF-CITY CD CD TOTAL CASH RECEIVED
BEGINNING BALANCE 5,123,529.04 3,000.00 26,616,519.91 4,121,236.01 22,814,829.03 58,679,113.99
PLUS: DEPOSITS 5,007,468.16 5,007,468.16
PLUS: INTEREST EARNINGS(1)- 184,188.84
LESS: CHECK DISBURSEMENTS (970,318.66) (970,318.66)
LESS: ELECTRONIC DISBURSEMENTS(2)(667,930.12) (667,930.12)
ADJUSTMENTS(3)(9,767.29) (9,767.29)
PLUS: TRANSFERS IN -
LESS: TRANSFERS OUT -
ENDING BALANCE 8,482,981.13 3,000.00 26,616,519.91 4,121,236.01 22,814,829.03 62,038,566.08 184,188.84
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Payroll 406,657.52
Payroll Charges 256,518.91
Bank and Merchant Fees 4,753.69
667,930.12
(3) The net adjustment was due to void checks, returned item, and deposit adjustment.
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 2018
27%41%
4%3%
2%
3%
0%
20%
DECEMBER 2018 CASH BALANCE BY MAJOR FUNDS
GENERAL FUND 27%
CIP 41%
EQUIPMENT REPLACEMENT 4%
1911 ACT 3%
HABITAT RESTORATION 2%
QUIMBY 3%
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
SubiDial
Restricted by Law or External Agencies
STREET MAINTENANCE
1972 ACT
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 BUILD ING
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
SUbliclllt
GRAND TOTAL
BALANCE
FORWARD
14,289,752.28
105,214.28
24 ,741,025 .51
2,559 ,707.65
0.00
0.00
27,405,947.44
222,404.34
27,926.71
29,949.23
28 ,757.84
0.00
1 ,889 , 701.53
435,133 .07
65 ,390.93
767,720.42
1,958,040.88
126,205.10
2,702,136.63
28,810.92
1 '1 14,296.99
777,807.25
127,851.78
317,034.19
0 .00
87 ,649.81
865,884.95
1,002,710.39
1,816,724.02
152,875.80
825,336 .13
484 ,066.00
0.00
78,651.75
0.00
0 .00
(9,617.96
412,940 .08
0.00
647,025.49
16,983 414.27
58,679,113.99
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 2018
DEBIT CREDIT CASH
6,232,262.21 4 ,108,269.01 16,413,745.48
0.00 0.00 105,214 .28
1,208 ,925.00 359 ,869.87 25,590 ,080.64
75 ,225.00 42 .79 2,634 .889.86
0.00 0.00 0.00
0.00 0.00 0.00
1,284,150.00 359,912.66 28,330,184.78
67,296.72 71 ,854.76 217 ,846.30
0.00 0.00 27 ,926 .71
1,026 .39 57.39 30 ,918 .23
0 .00 0.00 28 ,757.84
0.00 0 .00 0.00
255,936.94 60 ,621 .50 2,085 ,016.97
37,377.00 16 ,181 .28 456 ,328 .79
13 ,855.34 0.00 79 ,246.27
61 ,961.57 24,429.20 805 ,252 .79
74 ,705.63 0.00 2 ,032 ,746.51
32,799.86 32 ,500 .00 126 ,504 .96
46 ,654.92 60 ,742 .52 2,688 ,049.03
52 ,085.29 25 ,001 .00 55 ,895.21
0.00 0.00 1 '114 ,296 .99
0.00 3,885.17 773 ,922 .08
0 .00 22 ,500 .00 105,351 .78
20,564.70 1,662.23 335 ,936.66
0.00 0 .00 0 00
0.00 0.00 87 ,649.81
4,500 .00 1,547 .00 868 ,837.95
0.00 79 ,000 .00 923 ,710 .39
0.00 0.00 1 ,816 , 724 .02
0 .00 0.00 152,875.80
0.00 0.00 825 ,336.13
0.00 0.00 484 ,066.00
0.00 0.00 0.00
0.00 0.00 78 ,651 .75
0.00 0.00 0 00
0.00 0.00 0.00
9 ,617 .96 0.00 (0.00)
0.00 0.00 412,940.08
0.00 0.00 0 .00
60,279.62 27 ,458 .34 679,846.77
738,661 .94 427,440.39 17,294,635.62
8,255,074.15 4 ,895,622.06 62,038,586.08
Total Investment: 62,038,566 .08
Change In
Ending Cash
Balance
2,123,993.20
0.00
849,055 .13
75,182.21
0.00
0 .00
924,237.34
(4 ,558.04)
0 00
969.00
0.00
0.00
195,315.44
21,195 .72
13,855.34
37 ,532.37
74 ,705.63
299 .86
(14,087.60)
27 ,084.29
0 00
(3,885 .17)
(22 ,500.00)
18,902.47
0.00
0.00
2 ,953.00
(79 ,000.00
0.00
0 00
000
0 00
0 00
0.00
0 .00
0.00
9 ,617 .96
0.00
0 .00
32 ,821.28
311 ,221 .55
3 ,359,452.09
Change In
Ending Cash
Balance in °/c 0
15%
0%
3%
3%
0%
0%
3%
-2 %
0%
3%
0%
0%
10 %
5%
21 %
5%
4 %
0%
-1 %
94 %
0%
0%
-18 %
6%
0%
0%
0%
-8 %
0%
0%
0%
0%
0%
0%
0%
0%
-100 %
0%
0%
5%
2%
6%
A-2
Investment
Checkmg Accounts
Check1ng Accounts
Petty Cash
Issuer of
Investment
Bank of the West
Malaga Bank
N/A
Local Agency Investment Fund (LAIF-CITY ) State of Callforn1a
CD
CD
CD-Bank of New York -V1n1ng Sparks (Non -
Negotiable)
Malaga Bank
Malaga Ba nk
Abacus Federal
Sav1ngs Bank
Alleg1ance Bank
Texas
Amencan Express
Bank FSB
Amencan Express
Centunon
BMW Bank North
Amenca
Bank of New
England NH
Bankers Bank
MadiSOn WI
Bankers Bank of the
West
Barclays Bank
Delaware
Benef1c1al Bank
Bus1ness Bk of Sl
lOUIS
Caldwell Bank &
Trust Co
Capital Bank Little
Rock
Cap1tal One Bank
USA
Cap1lal One NA
Capstone Bank
Carroll County Stale
Bank Iowa
CeltiC Bank
Commun1ty Finl
SVCS Bank
Continental Bank UT
Crossflrst Bank
D1scover Bank
East Boston Sav1ngs
Bank
Enerba nk USA
Everbank I
Jacksonvill e FL
Farmers&Merchants
BK NEB
Flfsl Bank of
H1ghland
F1rst Fmanc1al Bank
FlfSI Federal SVGS
Bank
F1rst Internet Bank of
In
F lfst Nat 1onal Bank
of Amenca
F lfst Nat'l Bank
M1ch1gan
F 1rs1 Western Bank
Go ld Cast
Bank/Chicago
HSBC Bank USA
CUSIP#
00257TAUO
01748DAY2
02587CHR4
02587DN38
05580AER1
063B47AM9
06610RAT6
06610TDN2
06740KKD8
08173QBT2
12325EHV7
128829ADO
139797FRO
140420YN4
14042RDA6
14069TAH8
145087AF9
15118RPC9
20364ABW4
211163GYO
22766ABBO
254672ZB7
27 113P BM2
29266N6P7
29976DQ78
30781TBD9
319 141GE1
32021MFC8
32031YCD4
32056GCQ1
32110YJT3
3211 4VBJ5
33749VAG3
38058KDM5
40434YGK7
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 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
10/21/201 6
12/20/2017
9/14/2016
7/12/2017
10/7/2016
7/19/2017
8/19/2016
6/22/2016
5/4/20 16
10/13/20 16
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
8/12/20 16
1/1 8/20 17
6/7/20 17
2/21/2018
1/17/2018
7/1 4/201 7
1/20/2017
1112/2018
7/15/2016
9/9/20 16
3/21/20 17
Term
N/A
N/A
N/A
N/A
24 Mas
24 Mos
39 Mas
60 Mas
48 Mas
60 Mas
36Mos
36 Mos
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 Mos
60 Mas
60 Mas
48 Mas
37 Mas
60 Mas
60 Mas
27 Mos
36 Mas
45 Mas
60 Mas
Maturity
Date
On Demand
On Demand
On Dema nd
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
10/7/2020
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
6/7/2022
2/22/2022
2/17/2021
7/14/2022
1/20/2022
4/13/2020
7/1 5/20 19
6/9/2020
3/2 1/2022
$
Market
Value
8 482 981
3 .000
$ 26.616 520
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
252 649
3 868 587
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
8.482.981 0 00%
025%
3.000 0 00%
$ 26 616.520 2 29%
$
$
$
$
$
$
$
$
$
$
$
$
$
252 .649 1 75%
3.868 ,587 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 1 15%
250.000 2 45%
A-3
Treasury-Bank of New York(Vm ing Sparks)
CD -Bank of New York (V1n1ng Sparks) Ad1
Henry County Bank
OH
Independent
Bk/Memph 1s
lndustnai&Com Bank
Ch1na
International Bk
Chicago
lsbella Bank
JP MORGAN
CHASE BANK
LCA Bank Corp
Lakes1de Bank
L1ve Oak Banking
Company
Luana Sav1ngs Bank
Mercan\11 Bank NA
Merrick Bank
Mtd-M1ssour 1 Bank
Morgan Stanley
Bank NA
Morgan Stanley PVT
Bank
Morton Commun1ty
Northf1led Bank
PacifiC Continental
Bank
Partners Bank
Cal1forn1a
Peoples United Bank
Preferred Bank La
Cal1forn1a
Sallie Mae Bank/Salt
Lake
S1gnature Bank of
Arkansas
S1gnature Bk
Ch1cago
Southern States
Bank
Stearns Bank NA
Summit Community
Bank
Suntrust Bank
Synchrony Bank
Third Fed Sav&Ln
Clevland
Tnad Bank
Un1on Bank and
TrusUOX
Un1ted Commun1ty
Bk Ill
Wash1ngton Trust
Weterly
Whitney Bank/MS
Worlds Fore most
Bank
Yadk1n Bank
Un1ted States Treas
United States Treas
Umted States T reas
United States Treas
United States Treas
Un1ted States Treas
4263368F9
45383USK2
45581EAF8
45906A8R7
464209CJ2
48121C8Q2
801798LK6
51210SMD6
538036CG7
549103WGO
58733AES4
59013JC23
59541K8P1
61747M073
61760ADT3
619165HP1
66612A8X5
69413CEU9
70212YAU6
71270QQ J8
740367EW3
795450ZF5
82669LGD9
82669V8Y6
843879882
857894SD2
86604XML7
86789VUPO
87165HRY8
8841308U1
89579N8P7
905200CE9
90983W8NO
940637HW4
966594AW3
981571 CV2
984308EG7
9128282T6
912828080
912828S76
912828TH3
912828WS5
912828XM7
1/27/2017
1 1/16/20 16
6/2/2017
10/20/2017
9/7/2016
2/15/2017
1/12/2018
1/13/2017
8/19/2016
7/8/2016
12/29/2017
10/11/2017
1119/2018
12/21/2017
9/7/2017
1/19/2018
10/25/2017
5/31/2016
11/18/20 16
1/18/2017
11/9/2016
10/12/2016
7/15/201 6
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
7/31/20 18
7/31/2018
8/24/2018
7/31/2018
60 Mos
37 Mas
60 Mos
54 Mas
36 Mas
60 Mas
60 Mas
54 Mas
48 Mas
48 Mas
36 Mos
60Mos
60Mos
36 Mas
24 Mos
36 Mos
60 Mos
36 Mos
36 Mos
60 Mas
36 Mas
36Mos
48 Mas
60 Mas
40 Mas
36 Mas
30 Mas
60 Mos
60 Mas
48 Mas
46 Mas
30 Mas
54 Mas
36 Mas
36 Mas
36 Mas
36 Mas
12 Mas
12 Mas
36 Mos
12 Mos
10 Mos
24 Mos
1/27/2022
12/16/2019
6/2/2022
412012022
9/9/2019
2/15/2022
1/12/2023
7/13/2021
8/19/2020
718/2020
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 /8/20 19
10/15/20 19
7/15/2020
11/8/2022
4/20/2021
1/13/2020
7/26/2021
8/29/2022
6/2/2022
11124/202 1
41212020
7/22/2019
4/12/2022
11/18/2019
1/27/2020
1/21/2020
9/19/2019
8/31/2019
8/31/2019
7131/2 021
7/31/2019
6/30/2019
7/31/2020
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250 000
250 000
250000
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 ,950000
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 2 40%
250 ,000 2 10%
250 .000 1 25%
250 .000 1 45%
250,000 2 05%
250 000 1 35%
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 )
$ 62 ,038 ,566
Total Investment Weighted Average Return 1 70%
A-4
NOTE:
Malaga Bank-CD
6%
(1) See footnote on the summary page
SUMMARY OF CASH BALANCE BY INSTITUTION
DECEMBER 2018
Vining Sparks-Treasury
8%
Bank ofthe West
14%
State of california -LAIF
43%
Malaga Bank-MMDA
0%
(2) LAIF mar1<et values will be reported to vary from book value if 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 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. Furthenmore, I certify that sufficient investment liquidity
and anticipated revenues are available to meet the City's expenditure requirements for the next six months.
A-5