CC SR 20190402 D - February Treasurer ReportRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 04/02/2018
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the February 2019 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the February 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
February 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 $62,397,339, with more than $29 million or
46% of the total cash balance in the Local Agency Investment Fund (LAIF). The City
has more than $6.3 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 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 $18.6 million or 30% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $25.4 million or 41% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.5 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 $10.7 million or 17% in Other Restricted Funds.
The City’s cash balance decreased by more than $0.5 million from last month, and in
comparison to the same period last year, the cash balance improved by $100,000. The
variance was due to the timing of disbursements for City projects. The major
disbursements for this month included United Irrigation for the sidewalk repair project.
The disbursement to Hardy & Harper paid in January for the Residential Rehab Project
was reallocated from the CIP Fund to the Measure R Fund. 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 quarterfy.
(2) Electronic Disbursemenls:
Payroll
Payroll Charges
Bank and Merchant Fees
Bonk
oftheWeot
OPERATING
6,949,586.80
2,501,918.18
(2,473, 118.36)
(634,600.57)
24,178.18
6 ,367,964.23
371,332.91
252,356.24
10,911.42
634,600.57
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
FEBRUARY 2019
Malaga Mologo Bonk
Bonk Non-Neu<>tiebte
OPERATING PETTY CASH LAIF.CITY CD
3,000.00 29,077,336.34 4,134,209.60
3,000.00 29,077 ,336.34 4,134,209.60
(3) The nel adjustment was due to void checks and retumed item.
FEBRUARY 2019 CASH BALANCE BY MAJOR FUNDS
2%
YTOINT
INVESTMENT
CD TOTAL CASH RECEIVED
22,814,829 .03 62,978,961 .77
2,501,918.18
357,978.86
(2,473, 118.36)
(634,600.57)
24,178.18
22,814,829.03 62,397 ,339.20 357,978.86
.GENERAL FUND 30%
.CIP41%
• EQUIPMENT REPLACEMENT 4%
.1911ACT3%
D HABITAT RESTORATION 2%
.QUIMBY3%
.OTHER RESTRICTED FUNDS 17%
A-1
BALANCE
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
FEBRUARY 2019
CREDIT CASH
Total Investment: 62,397,339.20
Change In
Ending Cash
Balance
Change In
Ending Cash
Bala nce in%
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) Stale of California
Note (1)
CD -Non-Negotiable Malaga Bank
CD -Non-Negotiable Malaga Bank
CD-Bank of New York -V1mng Sparks (Non-Abacus Federal
Negotiable) Savings Bank
Alleg1ance Bank
Texas
American Express
Bank FSB
Amer ican Express
Centurion
BMW Bank North
America
Bank of New
England NH
Bankers Bank
Mad1son WI
Bankers Bank of the
West
Barclays Bank
Delaware
Beneficial Bank
Bus1ness Bk of St
Louis
Caldwell Bank &
Trust Co
Capital Bank Little
Rock
Cap1tal One Bank
USA
Cap1tal One NA
Capstone Bank
Carroll County State
Bank Iowa
Celt1c Bank
Community Finl
SVCS Bank
Cont1nental Bank UT
Crossfirst Bank
Discover Bank
East Boston Sav 1ng s
Bank
Enerbank USA
Everbank I
Jacksonville FL
F armers&Merchants
BKNEB
First Bank of
Highland
F 1rst Financial Bank
F~rst Federal SVGS
Bank
F~rst Internet Bank of
In
F"st Nat1onal Bank
of America
F "st Nat'! Bank
M•ch1gan
First Western Bank
CUSIP#
00257TAUO
01748DAY2
02587CHR4
02587DN38
05580AER1
063847AM9
06610RAT6
06610TDN2
06740KKD8
08173QBT2
12325EHV7
128829ADO
139797FRO
140420YN4
14042RDA6
14069TAH8
145087AF9
151 18RPC9
20364ABW4
211163GYO
22766ABBO
254672ZB7
27113PBM2
29266N6P7
29976 DQ 78
30781TBD9
319141GE1
32021MFC8
32031YCD4
32056GCQ1
32110YJT3
32114VBJ5
33749VAG3
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
FEBRUARY 2019
Acquisition
Date
N/A
N/A
N/A
N/A
2/23/2018
2/23/2018
6/20/2016
1 1/3/2017
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
Term
N/A
N/A
N/A
N/A
24 Mas
24 Mas
39 Mas
60 Mas
48 Mas
60 Mas
36 Mas
36Mos
48 Mas
36Mos
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
36Mos
60 Mas
60 Mas
48 Mas
37 Mas
60 Mas
60 Mas
27 Mas
36 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
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
617/2022
2/22/2022
2/17/2021
711412022
1/20/2022
4/13/2020
7/15/2019
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
s
$
$
$
s
$
Market
Value
6,367.964
3.000
29.077 .336
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 Sparks
Cash
N/A
N/A
N/A
N/A
$
$
Book
Value Yield
6.367.964 0 00%
0.25%
3,000 0 00%
29.077 ,336 2.39%
250,000 1 75%
$ 3.884 ,210 1 60%
$
$
s
$
$
$
$
s
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
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%
250,0 00 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%
250,000 245%
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(V1n1ng Sparks)
CD-Bank of New York (Vining Sparks) Adj
Gold Cast
Bank/Chicago
HSBC Bank USA
Henry County Bank
OH
Independent
Bk/Memphis
lndustriai&Com Bank
China
International Bk
Ch1cago
lsbella Bank
JP MORGAN
CHASE BANK
LCA Bank Corp
lakeside Bank
Live Oak Banking
Company
luana SaVIngs Bank
Mercant1l Bank NA
Merrick Bank
Mid-Missouri Bank
Morgan Stanley
Bank NA
Morgan Stanley PVT
Bank
Morton Community
Northfilec Bank
Pac1fic 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
Tnad Bank
Un1on Bank and
TrusUOX
United Community
Bk Ill
Washington Trust
Weterly
Whitney Bank/MS
Worlds Fore most
Bank
Yadk1n Bank
United States Treas
United St ates Trea s
United States Treas
United States Treas
United States T reas
United States T reas
38058KDM5
40434YGK7
426336BF9
45383USK2
45581EAF8
45906ABR7
464209CJ2
48121C802
801798lK6
51210SMD6
538036CG7
549103WGO
58733AES4
59013JC23
59541KBP1
61747MD73
61760ADT3
619165HP1
66612ABX5
69413CEU9
702 12YAU6
71270QQJ8
740367EW3
795450ZF5
82669lGD9
82669VBY6
843879BB2
857894SD2
66604XMl7
86789VUPO
87165HRY8
88413Q BU1
89579NBP7
905200CE9
90983WBNO
940637 HW4
966594AW3
981571CV2
984308EG7
9128282T 6
912828080
912828576
9 12828TH3
912828WS5
912828XM7
9/9/2016
3/2 1/2017
1/27/20 17
11/16/2016
6/2/2017
10/20/2017
9/7/2016
2/15/2017
1112/201 8
1/13/2017
8/19/2016
7/8/20 16
12/29/2017
10/1 1/2017
1/19/2018
12/21/2017
9f7/2017
1/19/2018
10/25/2017
5/31 /20 16
11/18/2016
1/18/2017
11/9/2016
10/12/2016
7/15/2016
11 /8/2017
12/20/2017
1/1 3/201 7
1/26/2018
8/29/2017
6/2/20 17
11124/20 17
6/2/2016
1120/2017
10/1212 017
11118/2016
1/25/2017
1/21/2017
9/19/2016
8/312018
813120 18
713 112018
7/31/2018
8/24/20 18
7/3112018
45 Mos
60 Mos
60 Mos
37 Mos
50 Mos
54 Mos
36 Mos
60 Mos
50 Mos
54 Mos
48Mos
48 Mos
36 Mos
60 Mos
60Mos
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
60Mos
60 Mos
4 8 Mos
46 Mos
30 Mos
54 Mos
36 Mos
36 Mos
36 Mos
36 Mos
12 Mo s
12 Mos
36 Mos
12 Mos
10 Mos
24 Mos
6/9/2020
3/2112022
1/27/2022
12/16/2019
61212022
4/20/2022
9/912019
2/15/2022
1/12/2023
7/13/2021
8119/2020
7/8/2020
1212912020
10/11 12022
1/19/2023
12/2112020
9/912019
1/19/2021
10/25/2022
5131/2019
11 /18/2019
1/18/2022
11/8/2019
10/15/20 19
7/15/2020
11/8/2022
4/20/2021
1/1312020
7/2612021
8/29/2022
6/2/2022
11/2412021
4/2/2020
7122 /201 9
411 212022
11 /1812019
1/27/2020
1121/2020
9/19/2019
8/31/2019
8/31/2019
7/31/2021
7/31/2019
613012019
7/31/2020
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
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
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%
$ 250,000 175%
$ 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%
$ 2 50 ,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%
$ 1,000,000 088%
$ 1,000,000 1 63%
$ 1,000,000 1 63%
$ (135,17 1)
$ 62,397,339
Total Investment W eighted Average Return 1.82%
A-4
NOTE:
Malaga Bank -CD
7%
SUMMARY OF CASH BALANCE BY INSTITUTION
FEBRUARY 2019
Vining Sparks-Treasury
8%
State of California-lAIF
46%
(1) LAJF market 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 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 requirements for the next six months.
Respectfully submitted,
A-5