CC SR 20190507 D - March 2019 Treasuer Report-CityRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 05/07/2019
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action regarding the March 2019 Cash Balances/Monthly
Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the March 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
March 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 $62,183,734, with more than $29 million or
47% of the total cash balance in the Local Agency Investment Fund (LAIF). The City
has more than $6.1 million or 10% 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 of 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 $17.9 million or 29% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $26.3 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
1
2% in the Habitat Restoration Fund, over $1.8 million or 3% in the Quimby Fund, and
over $10.3 million or 17% in Other Restricted Funds.
The City’s cash balance decreased by more than $0.2 million from last month, and in
comparison to the same period last year, the cash balance improved by $0.7 million.
The major variance included disbursements from the General Fund, Street Maintenance
Fund, Beautification Fund, Prop A Fund, Ginsburg Culture Art Building Fund, Donor
Restricted Contribution Fund, and CIP Fund. There are cash activities among several
funds due to the quarterly inter-fund transfer in accordance of the Fiscal Year 2018-19
budget.
The major disbursements for this month included Taylor Studio for the new PVIC
exhibits, Palos Verdes Peninsula Transit Authority for the second half of annual
contribution, Fencecorp for the coastal bluff fencing project, Roy Allan Slurry Seal for
the residential rehab Area 8 project, United Irrigation for the Palos Verdes Drive West
construction project, and Charlotte Ginsburg for the donation refund. All other operating
expenditures were disbursed in accordance with the FY 2018-19 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} AIILAIF interest is paid quarterly.
(2} Electronic Disbursements·
Payroll
Payroll Charges
Petty Cash Reimb
HSA Payments
Postage
Bank and Merchant Fees
Bank
of the West
OPERATING
6,367,964.23
2,162,019.17
(1,672,571.52}
(691 ,300.49}
(11 ,752.41}
6,154,358.98
364,132.15
221,742.65
245.00
99,000.00
2,500.00
3,680.69
691,300.49
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2019
Malaga Malaga Bank
Bank Non-Negotiable
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 net adjustment was due to void checks, retumed item, and other adjustments.
MARCH 2019 CASH BALANCE BY MAJOR FUNDS
2%
YTD INT
INVESTMENT
CD TOTAL CASH RECEIVED
22,814,829 03 62,397,339 20
2,162,019.17
357,978 86
(1 ,672,571.52}
(691 ,300.49}
(11,752.41}
22,814,829 03 62,183,733 95 357,978.86
.GENERAL FUND 29% •
.CIP42%
.EQUIPMENT REPLACEMENT 4%
.1911ACT 3%
O HABITAT RESTORATION 2%
.QUIMBY 3%
.OTHER RESTRICTED FUNDS 17%
A-1
BALANCE
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2019
Total Investment: 62 ,183,733 .95
Change In
Ending Cash
Change In
Ending Cash
A-2
Investment
Check1ng Accounts
Check1ng Accounts
Pe tty Cash
Issuer of
Investment
Bank of the West
Malaga Bank
N/A
Local Agency Investment Fund I LAIF-CITY) State of Caltfornta
Note (11
CD -Non -Negottab le Malaga Bank
CD -Non-Negot•able Malaga Bank
CD -Bank of New York -Vtntng Sparks (Non-Abacus Federal
Negottablel Sav1ngs Bank
Alleg1ance Bank
Texas
Amencan Exp ress
Bank FSB
Amencan Exp ress
Centunon
BMW Bank North
Amenca
Bank of New
England NH
Bankers Bank
Madtson WI
Bankers Bank of the
West
Barclays Bank
Delaware
Be nef1c1a l Bank
Bus tness Bk of St
lOUIS
Ca ldwell Bank &
Trust Co
Captt a l Bank Ltllle
Rock
Cap tlal One Bank
USA
Cap tlal One NA
Capstone Bank
Carroll County State
Bank Iowa
Celltc Bank
Commun1ty F1nl
SVCS Bank
Conltnenta l Ba nk UT
Crossf1rst Bank
D1scove r Bank
East Boston Savtngs
Ba nk
Ene rb ank USA
Everbank I
Jacksonv1lle F L
Farmers& Merchants
BK NEB
Ftrst Bank of
Htghland
F1rst F1nanc1al Bank
Ftrst Federal SVGS
Bank
F1rst Internet Ba nk of
In
F 1rst Nat1o nal Bank
of Ame nca
Ftrsl Na l'l Bank
M1ch1ga n
F 1rst Western Bank
Go ld Cast
Bank/Chtcago
HSBC Bank USA
--------------
CUSIP~
00257TAUO
01748DAY2
02587CHR4
02587 DN38
05580AER1
063847AM9
06610RAT6
06610TDN2
06740KKD8
081730BT2
12325EHV7
128829ADO
'39797 FRO
140420YN4
14042RDA6
14069TAH8
14508/AF9
15118RPC9
2036 4ABW4
21 1163GYO
22766ABB O
254672ZB/
2/113PBM2
29266N6P7
29976D078
30781TBD9
319141GE1
32021MFC8
32031YCD4
32056GCQ1
321 10Y JT3
32 11 4VBJ5
33749VAG3
38058KDM5
40434YGK7
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2019
Acquisition
Date
N/A
N/A
N/A
N/A
2/23/2018
2123/2018
6/20/2016
11/3/2017
12119/2017
3/21/2017
5/271201 6
10/21/20 16
12/20/2017
9/14/2016
7112/2017
101//2016
711 9/201 7
8119/2016
6 /221 20 16
5/4/2016
10/13/2016
6/15/2016
811212016
6115/2016
7112/2016
2/23/20 18
6/9/20 17
6 /8 /20 16
112012017
1011 3/2017
8112/2016
1118/201 7
61712017
2/2112018
7114/2017
;/20/2017
1112/20 18
7 115/201 6
9/9/2016
3/2112017
Term
N/A
N/A
N/A
N/A
24 Mas
24 Mas
39 Mas
60 Mas
48 Mas
60 Mos
3€ Mos
36 Mas
48 Mos
36 Mas
60 Mas
48 Mas
60 Mas
36 Mos
39 Mos
36 Mas
48 Mos
36 Mos
36 Mos
36 Mos
36 Mos
36 Mos
60 Mos
36 Mos
6 0 Mos
48 Mos
36 Mas
60 Mas
60 Mas
48 Mas
37 Mos
6 0 Mos
6 0 Mos
27 Mos
36 Mos
45 Mas
60 Mas
Maturity
Date
On Demand
On Demand
On Dema nd
On Dema nd
2/23/2020
2/23/2020
9117/2019
-113/2022
12/20/202 1
4/5/2022
5/2 8/2 019
10/2112019
12/20/2021
9113/2019
7112/2022
101//2020
7119/2022
8119/2019
9 /2312019
5/6/2019
10113/2020
6114/2019
8112/2019
6114/2019
7/12/2019
8/23/202 1
6/9/2022
611 0/2019
112 0/202 2
1011 3/202 1
8112/2019
1118/2022
6/7/2022
212212022
2 /1712021
7/'4/2022
112 0/2022
4113/2020
711 5/20 19
6/9/2020
3/21/2022
$
Market
Value
6154359
3 000
$ 29 077 336
$
$
$
$
$
$
$
$
$
$
$
$
$
$
25 0 000
3884210
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
6 154 359 0 00%
025%
3 000 0 00%
s 29 077 336 2 44"/,
$
$
$
$
$
$
$
$
$
$
$
250 000 1 75%
3884210 160"k
250 000 1 25%
250 000 2 20%
250.000 2 2 0%
250 000 2 45"k
25 0 .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%
250000 115%
250 000 2 05%
250000 210%
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 (V1n1ng Sparks I
CD-Bank cf New York (V1mng Sparks) AdJ
Henry County Bank
OH
Independent
Bk/Memph 1s
lndustqaf&Com Bank
Ch1na
lnter!1al 1onal Bk
Ch1cago
lsbella Bank
JP MORGAN
CHASE BANK
LCA Bank Corp
Lakes1de Bank
L1ve Oak Bank1ng
Company
Luana Savmgs Ba nk
Mercanl•l Bank NA
Mernck Bank
M•d -M •ssoun Bank
Morga n Stan ley
Bank NA
Morgan Stanley PVT
Bank
Morton Community
Northf1led Bank
Pac1f1c Cont1nental
Bank
Partners Bank
Ca l1 f0rn1a
Peoples Un 1ted Bank
Preferred Bank La
Cal 1forn1a
Sall1 e Mae Bank/Salt
Lake
S1gnature Bank of
Arkansas
S1gnature Bk
Ch1cago
Southern States
Bank
Stearns Bank NA
Summ1t Commun 1ty
Bank
Suntrust Ba nk
Synchrony Bank
Th ir d Fed Sav&Ln
Clevland
T nad Bank
Un1on Ba nk and
Trust/OX
Umted Community
Bk Ill
Washmgton Trust
Weterly
Whitney Bank/MS
Worlds Foremost
Bank
Yadk1n Bank
Un1ted States T reas
Un 1t ed States T reas
Un 1ted States Treas
Umted States Treas
Un1ted States Treas
Un1ted States Treas
<26336BF9
45383USK2
45581 EAF8
45906ABR7
464209CJ2
48121 C8Q2
801798LK6
51210SMD6
538036CG7
549103WGO
58733AES4
59013JC23
59541KBP1
61~41MD73
61760ADT3
619165HP1
66612ABX5
69413CEU9
10212YAU6
71270QQJ8
740367 EW3
795450ZF5
82669LGD9
82669VBY6
843879BB2
857894SD2
86604XML7
86789VUPO
81165HRY8
88413QBU 1
89579NBP7
905200CE9
90983WBNO
940637HW4
966594AW3
98151 1CV2
984308EG7
9128282T6
912828080
912828S76
912828TH3
912828WS5
912828XM7
112'12011
1111 6 12016
6121201/
10/20120 1/
91712016
2/15/2017
1/12/2018
1113/2011
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 /18/2016
1/1 8/2017
1119/20 16
10/1 2/2016
7115/2016
11/8/2011
12/20/2017
1113/2017
1/26/2018
8/29/2017
612/2017
11124 /20 17
6/2/20 16
1/20/2017
10/12/2017
11/18/2016
1/2512017
112112017
9/19/2016
8/3/2018
8/3/2018
7131/20 18
7/31/2018
8/24/2018
713'/2018
6C Mos
37 Mos
6G Mos
54 Mos
36 Mos
60 Mos
60 Mos
54 Mos
48 Mo s
48 Mos
36 Mos
60 Mos
50 Mos
36 Mas
24 Mos
36 Mos
60 Mos
36 Mos
36 Mos
60 Mos
36 Mos
36 Mos
48 Mos
6C Mos
40 Mos
36 Mos
30 Mos
60 Mos
60 Mos
48 Mos
46 Mos
3C Mos
54 Mos
36 Mos
36 Mos
36 Mos
36 Mos
1 2 Mas
12 Mos
36 Mos
12 Mos
10 Mos
24 Mos
'''27"/2022
12/1612019
61212022
4120/2022
91912019
211512022
111212023
71131 2021
8/19/2020
7/8/2020
12/29/2020
10/1 1/2022
1/1 9/2023
12 /21/2020
9/912019
1119/2021
10125/2022
5131/2019
11118/2019
1/1 8/2022
1 1/8 /2019
10/15/20 19
7/15/2020
1118/2022
4/20/2021
1 1312020
7126/2021
8/29/2022
6/2/2022
11124 /2021
4/2/2020
i/22/2 019
411 2/2022
11118/2019
1/27/2020
1/21/2020
9/19/2019
8/31/2019
8 /31 /2019
l/3112021
7/31/2019
6/30/2019
7131/2020
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
25C 000
250 000
250 000
250 000
250 000
250 000
250 000
250 000
25C 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:
$
s
s
$
$
$
$
$
$
$
s
$
$
$
250 000 1 90%
250000 1 15%
250 000 2 05%
250 000 2 10%
250 000 1 15'4
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 2 15'k
250 000 1 75%
250 000 2 15%
250 000 2 15%
250000 110%
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 10%
200 000 1 15%
250000 110%
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%
t135 171)
62 ,183 734
Total Investment Weighted Average Return 185%
A-4
NOTE:
Malaga Bank-CD
6%
SUMMARY OF CASH BALANCE BY INSTITUTION
MARCH 2019
Bank of the West
10%
State of California -LAIF
47%
(1) LAIF marl<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 oertify 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 oertify 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