CC SR 20190305 D - City January Treasurer ReportRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 03/05/2018
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the January 2019 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the January 2019 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
January 2019. 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 $62,978,962, with more than $29 million or
46% of the total cash balance in the Local Agency Investment Fund (LAIF). The City
has more than $6.9 million or 11% 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 Certificates of
Deposit (CD) investments over $17.9 million or 28% 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 $19.1 million or 30% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $23.7 million or 38% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.6 million or 4%, over $2.1 million or 3% in the 1911 Act Fund, over $1 million or
1
2% in the Habitat Restoration Fund, over $1.8 million or 3% in the Quimby Fund, and
over $12.4 million or 20% in Other Restricted Funds.
The City’s cash balance increased by almost $1 million from last month, and in
comparison to the same period last year, the cash balance decreased by $2 million. The
variance was due to the timing of disbursements for City projects. The major
disbursements for this month included Roy Allan Slurry Seal and Hardy & Harper for the
Residential Rehab Project. Other disbursements included Sunbeam Solar for the design
work on the Street Rehab 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)
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
HSA Payments
Bank and Merchant Fees
Bonk
oflheWeat
OPERATING
8 ,501,016.13
5 ,456,963.74
(3,993,723.72)
(716,135.31)
1,465.96
(2,300,000.00)
6,949,586.80
368,200.65
232,879.17
3,879.00
103,500.00
7,676.49
716,135.31
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JANUARY 2019
Molago Mologo Bonk
Bonk Non~oti.lble
OPERATING PETTY CASH LAIF-GITY CD
3,000.00 26,616,519.91 4 ,121 ,238.01
160,816.43 12,973.59
2,300,000.00
3,000.00 29,077,338.34 4,134,209.60
(3) The net adjustment was due to void checks, returned ~em, and deposit adjustment.
JANUARY 2019 CASH BALANCE BY MAJOR FUNDS
YTD INT
INVESTMENT
CD TOTAL CASH RECEIVED
22,814,829.03 62,056,601 .08
5,456,963. 74
173,790.02 357,978.86
(3,993,723.72)
(716,1 35.31)
1,465.96
2 ,300,000.00
(2,300,000.00)
22,814,829.03 62,978,961 .77 357,978.86
.GENERAL FUND 30%
• EQUIPMENT REPLACE MENT 4%
.1911 ACT 3%
D HABITAT RESTORATION 2%
.QUIMBY 3%
.OTHER RESTRICTED FUNDS 20%
A-1
BALANCE
FORWARD
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JANUARY 2019
DE BIT CRE DIT CASH
Total Investment: 62,978,96 1.77
Change In
Ending Cash
Bala nce
Change In
Ending Cash
Balance in %
A-2
Investment
Checking Accounts
Checktng Accounts
Petty Cash
Issuer of
Investment
Bank of the West
Malaga Bank
N/A
Local Agency Investment Fund (LAIF-CITY) State of California
Note (1)
CD -Non-Negotiable Malaga Bank
CD-Non-Negot1able 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
Bus1ness Bk of St
LOUIS
Caldwell Bank &
Trust Co.
Cap1tat Bank Little
Rock
Capital One Bank
USA
Capital One NA
Capstone Bank
Carroll County State
Bank Iowa
Celtic Bank
Community Finl
SVCS Bank
Continental Bank UT
Crossf~rst Bank
Discover Bank
East Boston Savings
Bank
Enerbank USA
Everbank I
Jacksonville FL
F armers&Merchants
BK NEB
First Ba nk of
Highland
Ftrst Ftnancial Bank
F~rst Federal SVGS
Bank
F~rst Inte rnet Bank of
In
F lfSt National Bank
of Amenca
F~rst Nat'l Bank
MIChigan
First Western Bank
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
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JANUARY 2019
Acquisition
Date
N/A
N/A
N/A
N/A
2/23/2018
2/23/2018
6/20/2016
11/3/2017
12/1 9/2017
3/21/2017
5/27/2016
10/21/2016
12/20/2017
9/14/2016
7/12/2017
10/7/2016
7/19/2017
8/19/2016
6/22/2016
5/4/2016
10/13/2016
6/15/2016
8/12/201 6
6/15/2016
7/12/2016
2/23/2018
6/9/2017
6 /8/2016
1/20/2017
10/13/201 7
8/12/2016
1/18/201 7
6/7/2017
2/21 /2018
1/17/2018
7114/20 17
112012017
1/12/2018
7/15/2016
Term
NIA
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
M•turity
Date
On Demand
On Demand
On Demand
On Demand
2/23/2020
2/23/2020
9/17/2019
1113/2022
12/20/2021
4/5/2022
5/28/2019
10/2112019
12/20/2021
9/13/2019
7/1 2/2022
10/7/2020
7/1 9/2022
8/19/2019
9/23/2019
5/6/2019
10/13/2020
6/14/2019
8/12/2019
6/14/2019
7/12/2019
8/23/202 1
6/9/2022
6/10/2019
112012022
10/13/2021
8/12/2 019
1118/2022
61712022
2/22/2022
2/17/2021
7/14/2022
1/20/2022
4/13/2 020
7/15/2019
$
$
$
Maf1(et
Value
6 .949.587
3 .000
$ 29 077336
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250.000
3,884.210
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 Spaf1(s
Cash
N/A
N/A
N/A
N/A
Book
Value Yield
$ 6.949.587 0 00%
$ 0 .25%
$ 3,000 0 .00%
$ 29.077,336 2 36%
$ 250,000 1 75%
$ 3.884 ,210 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 1.1 5%
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-3
Treasury-Bank of New York (Vtntng Sparks)
CD -Bank of New York (Vimng Sparks) Adj
Gold Cast
Bank!Chtcago
HSBC Bank USA
Henry County Bank
OH
Independent
Bk!Memphis
lndustrial&Com Bank
Chtna
lnternaltonat Bk
Chtcago
lsbella Bank
JP MORGAN
CHASE BANK
LCA Bank Corp
Lakestde Bank
Live Oak Banking
Company
Luana Savings Bank
Mercanltl Bank NA
Mernck Bank
Mrd-Mrssouri Bank
Morgan Stanley
Bank NA
Morg an Stanley PVT
Bank
Morton Community
Northflled Bank
Pacrfic Continenta l
Bank
Partners Bank
Calrfornia
Pe oples Un ited Bank
Preferred Bank La
Californra
Sallie Mae Bank/Salt
Lake
Stgnature Bank of
Arkansas
Stgnature Bk
Chicago
Southern States
Bank
Stearns Bank NA
Summit Community
Ban k
Suntrust Bank
Sy nchrony Bank
Thtrd Fed Sav&Ln
Clevland
Triad Bank
Union Bank and
TrusUOX
United Community
Bk Ill
W ashington Trust
Weterly
Whttney Bank!MS
W orlds Foremost
Bank
Yadktn Bank
United States Tr eas
Untied States Treas
United States Treas
United States Treas
Un tied States Trea s
Umted States Treas
38058KDM5
40434YGK7
426336BF9
45383USK2
4558t EAF8
45906ABR7
464209CJ2
48121C8Q2
801 798LK6
51210SMD6
538036CG7
549103WGO
58733AES4
59013JC23
59541KBP1
61 74 7MD73
61760ADT3
619165HP1
66612ABX5
69413CEU9
70212YAU6
71270QQJ8
740367EW3
795450ZF5
82669LGD9
82669VBY6
843879BB2
857894SD2
86604XML7
86789VUPO
87 165HRY8
88413QBU1
89579NBP7
905200C E9
90983WBNO
940637 HW4
966594AW3
981571C V2
984308EG7
9128282 T6
9128280 80
912828S76
912828TH 3
91 2828WS5
912828XM 7
9/9/2016
312112017
1127/2017
11/16/2016
61212017
10120/2017
9/7/2016
2115/2017
1/12/20 18
1/13/2017
8/1912016
7/8/2016
12/29/2017
1011 1/2017
1119/2018
12/211201 7
9/7/201 7
1/191201 8
10125/2017
5131/2016
11 /18/2016
1/18/201 7
11 /912016
10112/2 016
711 512016
11/8/2017
12/20/2017
1/13/20 17
1/26/20 18
8/29/201 7
6/2/2 01 7
1112412017
6/2/2016
1120120 17
10/12/2017
11 /18/2016
1/25/2017
1/21120 17
9119/2016
8/312018
8/3/20 18
7/31/2018
7131/2018
8124/2018
7/31 /2018
45 Mos
60 Mos
60 Mos
37 Mos
60 M os
54 M os
36 Mos
60Mos
60 Mos
54 Mos
48 Mos
48 Mos
36Mos
60 Mos
6 0 Mos
36Mos
24 Mo s
36 Mos
60 Mos
36 Mos
36 Mos
60 Mos
36 Mos
36 Mos
48 Mos
60 Mos
40 Mos
36 Mos
30 Mos
6 0 Mos
60 Mos
48 Mos
46 Mos
30 Mos
54 Mos
36 Mos
36 Mos
36 Mos
36 Mos
12 Mos
12 Mos
36 Mos
12 Mos
10 Mos
24 Mos
6 /9/2020
312 1/2022
1127/2022
12/16/2019
612/2022
4120/2022
9/9/2019
2/15/2 022
1/12/2023
7/13/2021
8/1912020
7/8/2020
12/29/2020
10/11 /2022
1/19/2023
12/2112020
9/912019
1/1 912021
10/25/2022
5/31/201 9
11 118/2019
1/1812 022
11 /8/2019
10/15/2019
7/1 5/2020
11/8/2022
4/20/2021
1/13/2020
7/26/2021
8/2912022
612/2022
11 12412021
4/212020
7/22/2019
4/1 2/2022
11 /18/2019
1/27/2020
1/21/2020
9/19/2019
8131 /2019
8/31 /2019
7/31/2021
7131/2019
6/30/2019
7131/2020
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
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
2 50 ,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 15%
$ 250,000 2 45%
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)
$ 62,97 8,961
Total Investment Weighted Average Return 1 79%
A-4
NOTE:
Malaga Bank -CD
7%
SUMMARY OF CASH BALANCE BY INSTITUTION
JANUARY 2019
Bank ofthe West
11%
State of California -lAIF
46%
(1) LAIF marl<et values will be reported to vary from book value if the City calculated share of totallAIF assets is less than the City boo!< 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. Furthermore, I certify that sufficient investment liquidity
and anticipated revenues are available to meet the City's expenditure requinsments for the next six months.
A-5