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CC SR 20190604 E - April 2019 Treasurer ReportRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 06/04/2018 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA DESCRIPTION: Consideration and possible action regarding the April 2019 Cash Balances/Monthly Treasurer’s Report RECOMMENDED COUNCIL ACTION: (1) Receive and file the April 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 April 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 $64,092,631, with more than $29 million or 46% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $7.8 million or 12% 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 $17.8 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 $19.9 million or 31% in cash balance and the Capital Improvement Projects (CIP) Fund has over $25.9 million or 40% 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 $0.9 million 1 or 2% in the Habitat Restoration Fund, over $1.7 million or 3% in the Quimby Fund and over $10.6 million or 17% in Other Restricted Funds. The City’s cash balance increased by more than $1.9 million from last month, and in comparison to the same period last year, the cash balance increased by almost $1 million. The increase was mainly from the receipt of a large monthly property tax apportionment. The major disbursements for this month included Roy Allan Slurry Seal and Hardy & Harper for the Residential Rehab Project and Palos Verdes Peninsula Land Conservancy for the Portuguese Bend Land Maintenance Service Project. 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) All LAIF interest is paid quarterly. (2) Electronic Disbursements: Payroll Payroll Charges Petty Cash Reimb Sales Taxes Bank and Merchant Fees Bank of the West OPERATING 6,154,358.98 4,683,362.63 (2,501,157.17) (603,539.96) 130,957.98 7,863,982.46 367,630.75 226,260.87 836.00 3,579.00 5,233.34 603,539.96 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT APRIL 2019 Malaga Malaga Bank Bank Non-Negotiable OPERATING PETTY CASH LAIF-CITY CD 3,000.00 29,077,336.34 4.134,209 60 2,000.00 181,929.15 15,344.15 5,000.00 29,259,265.49 4,149,553.75 (3) The net adjustment was due to void checks, returned item, and other adjustments. APRIL 2019 CASH BALANCE BY MAJOR FUNDS 2% YTD INT INVESTMENT CD TOTAL CASH RECEIVED 22,814,829 03 62,183,733.95 4,685,362.63 197,273.30 555,252.16 (2,501 ,157.17) (603,539.96) 130,957.98 22,814,829 03 64,092,630.73 555,252.16 .GENERAL FUND 31% .CIP40% .EQUIPMENT REPLACEMENT 4% .1911ACT3% DHABITAT RESTORATION 2% .QUIMBY3% .OTHER RESTRICTED FUNDS 17% A-1 CASH BALANCES BY FUND Unrestricted GENERAL FUND Restricted by Council Action BEAUTIFICATION FUND CIP EQUIPMENT REPLACEMENT BUILDING REPLACEMENT EMPLOYEE BENEFITS Subll:illll Restricted by Law or External Agencies STREET MAINTENANCE 1972ACT EL PRADO 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 STATE GRANTS QUIMBY LOW-MODERATE INCOME HOUSING AFFORDABLE HSNG IN LIEU EET MEASURE A CAPITAL BIKEWAYS UNDERGROUND UTILITIES ROADWAY BEAUTIF ICATION WATER QUALITY FLOOD PROTECTIO~ REDEVELOPMENT OBLIGATION RET IR IMPROVEMENT DISTRICT 9 SPECIAL TRUSTS I~ [~TOTAL BALANCE FORWARD 17,907,596.06 0.00 26,328,033.61 2,659,187.07 0.00 0.00 28,987,220.68 616,440.97 28,009.12 31,338.38 24,885.16 0.00 2,058,493.42 471,169.47 67,193.98 944,583.58 1,922,246.85 124,257.54 769,812.65 86,203.84 1,080,105.13 767,912.96 88,156.14 342,758.45 0.00 1,564.46 802,633.31 903,692.99 0.00 1 ,822,115.43 153,326.92 827,771.61 489,392.59 0.00 78,883.84 0.00 0 00 0.00 189,238.51 0.00 596,729.91 15 268 917.21 62,183,733.$5 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT APRIL 2019 DEBIT CREDIT CASH 6,915,980.37 4,903,407.17 19,920,169.26 14,046.66 14,046.66 0.00 83,637.34 479,020.23 25,932,650.72 8,318.12 14,716.16 2,652,789.03 0.00 000 0.00 0.00 0.00 0.00 106,002.12 507,783.05 28,585,439.75 252,447.45 137,.947.27 730,941.15 88.86 0.00 28,097.98 882.59 63.72 32,157.25 0.00 15,914.00 8,971.16 0.00 0.00 0.00 202,017.94 75,605.99 2,184,905.37 6,124.13 42,760.58 434,533.02 239.11 0.00 67,433.09 60,628.43 2,432.00 1,002,780.01 76,237.11 29,379.00 1,969,104.96 456.10 0.00 124,713.64 47,784.64 8,576.00 809,021.29 48,890.73 77,004.24 58,090.33 109,144.50 249,878.34 939,371.29 2,444.73 3,726.69 766,631.00 316.70 0.00 88,472.84 12,036.26 24,608.02 330,186.69 0.00 0.00 0.00 187.59 0.00 1,752.05 12,481.05 44 ,240.21 770,874.15 0.00 0.00 903,692.99 29,207.33 29,207.33 0.00 5,780.87 32,285.00 1,795,611.30 486.45 0.00 153,813.37 2,626.20 0.00 830,397.81 1,544.40 0.00 490,936.99 0.00 0.00 0.00 250.27 0.00 79,134.11 0.00 0.00 0.00 0.00 0.00 000 200,000.00 0.00 200,000.00 1,076.11 0.00 190,31 4 .62 0.00 0.00 0.00 15,102.00 16,748.65 595,083.26 1,088 481.55 790 377.04 15,587,021.72 8,110,464.04 6,201,567.26 &4,092,630.73 Total Investment: 64,092,630.73 Change In Ending Cash Balance 2,012,573.20 0.00 (395,382.89) (6,398.04) 0.00 0.00 (401,780.93 114,500.18 88.86 818.87 (15,914.00) 0.00 126,411.95 (36,636.45) 239.11 58,196.43 46,858.11 456.10 39,208.64 (28,113.51) (140,733.84 (1,281.96) 316.70 (12,571.76) 0.00 187.59 (31 ,759.16) 0.00 0.00 (26,504.13) 486.45 2,626.20 1,544.40 0.00 250.27 0 00 0.00 200,000.00 1,076.11 0.00 (1,646.65 298,104.51 1,908,896.78 Change In Ending Cash Balance in% 11% 0% -2% 0% 0% 0% -1% 19% 0% 3% -64% 0% 6% -8% 0% 6% 2% 0% 5% -33% -13% 0% 0% -4% 0% 12% -4% 0% 0% -1% 0% 0% 0% 0% 0% 0% 0% 0% 1% 0% 0% 2% 3% A-2 Investment Checkmg Accounts Checkmg Accounts Petty Cash Issuer of Investment Bank of the West Malaga Bank N/A Local Agency Investment Fund I LAIF -CITY) State of Cal 1forn1a Note (11 CD -Non-Negotiable Malaga Bank CD -Non-Negotrable Malaga Bank CD-Bank of New York -V1n1ng Sparks (Non-Abacus Federal Nego1 1able) Sav1ngs Bank Alleg1ance Bank Texas Amencan Express Bank FSB Amencan Express Centunon BMW Bank North Amenca Bank of New England NH Bankers Bank Madtson WI Bankers Bank of the West Barclays Bank Delaware Beneftctal Bank Bus1ness Bk of St lOUIS Caldwell Bank & T rust Co Cap1tal Bank L1ttle Rock Cap1tal One Bank USA Cap1tal One NA Capstone Bank Carroll County State Bank Iowa Celt1c Bank Commun1ty Ftnl SVCS Bank Cont1nental Bank UT Crossftrst Bank Otscover Bank East Boston Savtngs Bank Enerbank USA Everba nk I Jacksonville F L Farmers& Merchants BK NEB F trst Bank of H 1g hland Ftrst F1nanc1al Bank Frrst Federal SVGS Bank Ftrst Internet Bank of In Ftrst Nat tonal Bank of Amenca Frrst Nat't Bank MtCh tgan F •rst Western Bank Gotd Cast Bank/Ch,cago HSBC Bank USA CUStP# 00257TAUO 01748DAY2 02587CHR4 02587DN38 05580AER1 063847AM9 06610RAT6 06610TDN2 06740KKD8 08173QBT2 12325EHV7 128829ADO 139797FRO 140420YN4 14042RDA6 14069TAH8 145087A F9 15118RPC9 20364ABW4 2' 1163GYO 22766ABBO 254672ZB7 27113PBM2 29266N6P7 29976DQ78 30781TBD9 31914 1GE 1 32021 MFC8 32031 YCD4 32056GCQ1 32110YJT3 32114VBJ5 33749VAG3 38058KD M5 40434YGK7 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT APRIL 2019 Acquisition Date NIA N/A N/A N /A 2/23/2018 2/2312018 6/20/2016 11/3/2017 12/19/2017 3/21/2017 5/27/2016 10/2112016 1212012017 9114/2016 7/12/2017 10/7/2016 7/19/2017 8/19/2016 6/22/2016 5/4/2016 10/13/2016 6/15/2016 8/12/2016 6/15/2016 7/12/2016 2/23/2018 619/2017 6/8/2016 1/2012017 10/13/2017 8/12/2016 1/1 812017 617/2017 2/21/2018 1/17/2018 711 4/201 7 1/2012017 1112/2018 7115/2016 9/9/2016 3/2112017 Term NIA NIA NIA NIA 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 39Mos 36 Mas 48 Mas 36 Mas 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 21 Mas 36 Mas 45 Mas 60 Mas Maturity Date On Demand On Demand On Demand Or Demand 212312020 212312020 911712019 111312022 1212012021 41512022 512 812019 1012 1/2019 1212012021 911312019 711212022 101712020 711912022 811912019 912312019 516120 19 1011312020 61 1412019 811212019 61' 412019 711212019 8/2312021 61912022 611012019 112012022 101131202 1 8112120 19 1/1812022 61712022 21221202 2 211712021 711 4/2022 1120/2022 4/1312020 711 5120 19 619/2020 3121/2022 $ Market Value 7 863 982 5 000 $ 29 259 265 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 250 000 3 899 554 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 Vining Sparks Cash NIA NIA NI A NIA Book Value 7 863 982 0 00'/, 0 25% 5 000 0 00% $ 29 259 265 2 45% $ s $ $ $ $ $ $ $ $ $ $ $ $ $ 250 000 1 75% 3 899 554 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% 250000 2 15% 2 50 000 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 4 5% A-3 Treasury-Bank of New York(V1mng Sparks) CD-Bank of New York (V1n1ng Sparks) AdJ Henry County Bank OH Independent Bk/MemphiS lndustnai&Com Bank Chma lnternattonal Bk Chtcago lsbella Bank JP MORGAN CHASE BANK LCA Bank Corp Lakes 1de Bank Ltve Oak Banktng Company Luana Savtngs Bank Mercantll Bank NA Mernck Bank Mtd-Mtssoun Bank Morgan Stanley Bank NA Morgan Stanley PVT Bank Morton Community Northf1led Bank Pactftc Conttnental Bank Partners Bank Caltfornta Peoples Untied Bank Preferred Bank La Caltfornta Sall1e Mae Bank/Salt Lake S1gnature Bank of Arkansas Stgnature Bk Ch1cago Southern States Bank Stearns Bank NA Summtl Communtty Bank Suntrust Bank Synchrony Bank Third Fed Sav&Ln Clevland Tnad Bank Unton Bank and Trust/OX Untied Communtty Bk Ill Washtngton Trust Weterly Wh1tney Bank!MS Worlds Foremost Bank Yadkm Bank Untied States Treas Untied States Treas Untied States Treas Untted States Treas Un1ted States Treas Untied States Treas 426336BF9 45383USK2 45581EAF8 45906ABR7 464209CJ2 48121C802 801798LK6 51210SMD6 538036CG7 549103WGO 58733AES4 59013JC23 59541KBP1 6F47MD73 61760ADT3 619165HP1 66612ABX5 69413CEU9 70212YAU6 71270QQJ8 740367EW3 795450ZF5 82669LGD9 82669VBY6 843879BB2 857894SD2 86604XML7 86789VUPO 87165HRY8 88413QBU1 89579NBP7 905200CE9 90983WBNO 940637HW4 966594AW3 981571 CV2 984308EG7 9128282T6 912828080 912828S76 912828TH3 912828WS5 912828XM7 112712017 1111612016 61212017 1012012017 9/712016 2/15/2017 1/12/2018 1/13/2017 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 11/18/2016 1/18/2017 11/9/2016 10/12/2016 7/15/2016 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 7/31/2018 7/31/2018 8/24/2018 7/31/2018 6C Mas 31 Mas 60 Mos 54 Mos 36 Mos 60 Mos 60 Mos 54 Mos 48 Mos 48 Mos 36 Mos 60 Mos 60 Mos 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 60 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 1/27/2022 12/16/2019 6/2/2022 4/20/2022 9/9/2019 21"512022 1/12/2023 1/13/2021 8/19/2020 1/8/2020 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 11/8/2019 10/15/2019 1/15/2020 11/8/2022 4/20/2021 1/13/2020 1/26/2021 8/29/2022 6/2/2022 11/24/2021 4/2/2020 1/22/2019 4/12/2022 11/18/2019 1/27/2020 1/21/2020 9/19/2019 8/31/2019 8/31/2019 7/31/2021 7/31/2019 6/30/2019 7/31/2020 $ $ $ $ $ $ $ $ $ $ 25C 000 250 000 25C 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 200 000 250 000 500 000 500 000 1 000 000 1 000 000 1 000 000 1 000 000 $ 22 950 000 Total Investment: s s $ 250 000 1 90% 250 000 1 15% 250 000 2 05% 250 ODD 210% 250 DOD 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 15% 250 000 2 '5% 250 000 215% 250 000 1 10% 250 000 1 10% 250 000 2 05% 250 000 1 15% 250 000 1 30% 250 000 1 15% 250 000 215% 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 1 $ 64.092 630 Total Investment Weighted Average Return 1 81% A-4 NOTE: Malaga Bank-CD I 6% SUMMARY OF CASH BALANCE BY INSTITUTION APRIL 2019 Vining Sparks • Treasury 8% Bank of the West 12% State of california· LAIF 46% (1 ) LAIF market 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 matenal 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, ~v~s~tL'' A-5