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CC SR 20190806 N - May 2019 Treasurer Report - CityRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 08/06/2018 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA DESCRIPTION: Consideration and possible action regarding the May 2019 Cash Balances/Monthly Treasurer’s Report RECOMMENDED COUNCIL ACTION: (1) Receive and file the May 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 May 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 $63,594,057, with more than $31.2 million or 49% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $5.8 million or 9% 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 $17.3 million or 27% 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 $20.4 million or 32% in cash balance, and the Capital Improvement Projects (CIP) Fund has over $25.6 million or 40% in cash balance. The remaining cash balances are in the Equipment Replacement Fund with over $2.6 million or 4%, over $1.5 million or 2% 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 decreased by almost $0.5 million from last month, and in comparison to the same period last year, the cash balance decreased by $1.2 million. The major variance was attributed to the increase in General Fund expenditures. The primary reason was to pay for the Fiscal Year 2019-20 annual memberships and dues in advance. The other disbursements for this month included Southern California Edison for the street light acquisition and normal operating expenditures for the CIP projects. All other operating expenditures were disbursed in accordance with the FY 18-19 budget. 2 A-1 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 Postage Bank and Merchant Fees Bank of the West OPERATING 7,863,982.46 5,557,177.60 (4,644,104.90) (911,183.99) (462.57) (2,000,000 00) 5,865,408 60 553,914.51 348,818.74 2,500.00 5,950.74 911,183.99 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MAY 2019 Malaga Bank OPERATING PETTY CASH 5.000.00 5,000.00 LAIF-CITY 29,259,265.49 2,000,000.00 31 ,259,265.49 Malaga Bank Non-Negotiable CD 4 149,553 75 4,149,553.75 (3) The net adjustment was due to void checks, returned item, and other adjustments MAY 2019 CASH BALANCE BY MAJOR FUNDS 2% YTD INT INVESTMENT CD TOTAL CASH RECEIVED 22.814.829 03 64,092,630 73 5,557,177.60 555,252.16 (4,644,104 90) (911 '1 83.99) (462.57) 2,000,000 00 (500,000 00) (2,500,000.00) 22,314,829 03 63,594,056.87 555,252.16 .GENERAL FUND 32% •ciP40% .EQUIPMENT REPLACEMENT 4% .1911ACT 2% C HABITAT RESTORATION 2% .QUIMBY 3% .OTHER RESTRICTED FUNDS 17% A-2 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 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 BEAUTIFICATION WATER QUALITY FLOOD PROTECTIO~ REDEVELOPMENT OBLIGATION RETIR IMPROVEMENT DISTRICT 9 SPECIAL TRUSTS Sul*ltal GRANO TOTAL BALANCE FORWARD 19,920,169.26 0.00 25,932,650.72 2,652, 789 .03 0.00 0 00 28,585,439.75 730,941 .15 28,097 .98 32,157 .25 8 ,971.16 0 .00 2 ,184 ,905.37 434 ,533.02 67,433.09 1,002,780.01 1,969,104 .96 124 ,713.64 809,021.29 58,090.33 939,371.29 766 ,631 .00 88,472.84 330,186.69 0.00 1,752.05 770 ,874 .15 903,692.99 0 00 1 '795 ,611.30 153,813.37 830 ,397.81 490,936 .99 0.00 79,134 .11 0 00 0 .00 200,000 .00 190,314.62 0.00 595,083 .26 15,587 021.72 84,092 830.73 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MAY 2019 DEBIT CREDIT CASH 10,035,028.12 9.495,245.35 20,459,952.03 174 ,380.00 152,739 .39 21,640.61 0.00 319 ,691 .24 25 ,612,959.48 0 .00 43,923.41 2 ,608 ,865.62 0.00 0.00 0.00 0 00 0 .00 0.00 174,380.00 516 354.04 28,243,465.71 126,852.97 1 13,961.86 743 ,832 .26 0.00 0.00 28,097.98 333.42 61.48 32,429.19 134 ,367.09 143 ,338.25 000 0 00 0.00 0.00 83,151 .83 743,409.33 1,524.647.87 32,469.26 20,402 .19 446,600.09 14,451.57 0.00 81 .884 66 52 ,310.84 159 ,707 .04 895 ,383 .81 63,065.30 10 ,027.42 2 ,022,142 .84 0.00 0.00 124 ,713.64 39 ,121.63 50 ,347.10 797,795 .82 44,101.07 50,471 .07 51 ,720.33 0 .00 0.00 939,371.29 0.00 3.285.49 763,345 .51 0 00 0 00 88,472.84 5,373.36 1,954.24 333 ,605.81 0.00 0.00 000 0 00 0 .00 1,752.05 1,500 .00 3 ,103.00 769 ,271 .15 0.00 000 903 ,692.99 75 ,828.31 75 ,828 .31 0.00 0.00 35,962.00 1 '759 ,649.30 0.00 0.00 153 ,813.37 0.00 0.00 830 ,397 .81 15,608.00 0.00 506,544.99 0.00 0.00 000 0.00 0 00 79 ,134.11 0.00 0 .00 0.00 0.00 0 .00 000 0.00 000 200,000.00 000 0.00 190,314.62 0.00 0.00 0 00 55 ,826 .25 28,884.71 622 ,024 .80 744,360.90 1,440,743.49 14,890,839.13 10,953 769.02 11,452,342.88 83 594,056.87 Total Investment: 63,594,056 .87 Change In En ding Cash Balance 539,782.77 21 ,640 .61 (319 ,691 .24) (43 .923.41) 0.00 0.00 (341 ,974.04) 12 ,891 .11 0.00 271 .94 (8 ,971 .16) 0.00 (660 .257.50) 12 ,067 .07 14 ,451.57 (107,396 .20) 53,037 .88 0 .00 (11 ,225.47) (6 ,370.00) 0 00 (3.285.49) 0.00 3,419 .12 0.00 0.00 (1 ,603 .00) 0.00 000 (35,962 .00 0.00 0 .00 15 ,608 .00 0.00 0.00 0 .00 0.00 0 .00 0.00 0 00 26,941.54 (696,382.59 (4118,573.88 Change In Ending Cash Balance in% 3% 0% -1 % -2 % 0% 0% -1% 2% 0% 1% -100% 0% -30% 3% 21% -11% 3% 0% -1 % -1 1% 0% 0% 0% 1% 0% 0% 0% 0% 0% -2% 0% 0% 3% 0% 0% 0% 0% 0% 0% 0% 5% -4% -1% A-3 Investment Check1ng Accounts Checkmg Accounts Issuer of Investment BanK of the West Malaga Bank Petty Cash N/A Local Agency Investment Fu110 (LAIF-CITYl State of Cal1forn1a Note (1 .1 CD -Non-Negotiable Malaga Bank CD -Non-Negotiable Malaga Bank CD-Bank of New York -Vmmg Sparks (Non-Abacus Federal Negct1able 1 Savmgs Bank Alleg1ance Bank Texas AI"Jleqcan Express Bank FSB Amer1can Express Centunon Bank of New England NH Bankers Bank Mad1son WI Bankers Bank of the West Barclays Bank Delaware Benef1c1al Bank Bus•ness Bk of St LOUIS Caldwell Bank & Trust Co Capital Bank Little Rock Capital One NA Capstone Bank Carroll County State Bank Iowa CeltiC Bank Commun1ty F1nl SVCS Bank Continental Bank UT Crossf1rst Bank D1scover Bank East Boston Savl'lgs Bank Enerbank USA Everbank I Jacksonv1ile FL F armers&Merchants BK NEB F 1rst Ban~ of H1ghland F1rst F1nanc1al Bank F!Cst Federal SVGS Bank F1rst Internet Bank of In F1rst Nat1onal Bank of Amenca F1rst Nat'l Bank M1ch1gan F1rst Western Bank Gold Cast Bank/Ch,cago Goldrnar Sachs Ba"k USA HSBC Bank USA Henry County Bank OH CUSIP# 00257TAUO a2587CHR4 0258/DN38 063841AM9 06610RAT6 06610TDN2 06740KKD8 08173QBT2 12325EHV7 128829ADO ~ 3579/FRO 14042RDA6 14069TAH8 '45087AF9 15118RPC9 20364ABW4 211163GYO 22766ABBO 254672ZB7 2~113PBM2 29266N6P7 29976DQ78 30781TBD9 319141GE1 32021 MFCB 32031YCD4 32056GCQ1 3211 OY JT3 32" 4VBJ5 33749VAG3 38058KDM5 38149MAU7 40434YGK7 426336BF9 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MAY 2019 Acquisition Date NIA NIA NIA NIA 212312018 212312018 6120/2016 -"312017 -2119/2017 3/21/2C17 1012112016 12'2012017 9114/2016 7/1212017 10,712016 7 119/2017 8/1912016 6/22/2016 10/13/2016 6/1512016 8/1212016 611512016 7/12/2016 2'2312018 619/2017 6/8/2016 1 12a12017 10113/2017 8112/2016 1/1812017 6/1/20~1 212'12018 11' ;-1201 B '''4/2017 1 /20/2017 "1212018 711512016 919/2016 513~12019 3/21/2017 i 12//2017 Term NIA NIA NIA 24 Mas 24 Mas 39 Mos 6C:. Mas 48 Mos 60 Mos 36 Mos 48 Mos 36 Mos 60 Mos 48 Mas 60 Mos 3E Mas 39 Mas 48 Mos 36 Mos 36 Mas 36 Mos 36 Mos 3E Mos 60 Mos 36 Mos 60 Mas 48 Mos 36 Mos 6C Mos 60 Mas 48 Mos 37 Mos EO Mos 6C Mos r Mos 3E Mas 45 Mos 36 Mos 6G Mcs 6G Mas Maturity Date On Demand On Demand On Demand On Demand 212312020 212312020 9/1/.12019 1 -/3/2022 1212012021 4/512022 10/2i/2019 1212012021 91 13/2019 7112/2022 101712020 7/19/2022 8!19'2019 9/23/2019 10/13/2020 6/14/2019 8/12/2019 6/14/2019 7/1212019 8/23/2021 6/9/2022 6/1012019 I /20'2022 101'312021 8/12/2019 '/18/2022 6/7/2022 2/2212022 2/17/2021 -/14/2022 1/20/2022 4/13 12020 : /' 5/2019 6/9/2020 5/31/2022 3121/2022 1/27/2022 Market Value 5 865 409 :: oo:; 3' 259 265 25C OJO 2 895 554 25C OOC 25C OJO 25C 000 25C 000 250 000 250 000 25C 000 250 000 25G JOC 250 000 250 000 25C 000 250 000 250 000 250 ODD 250 000 250 000 250 000 250 000 250 000 25G 000 25C 000 25C 000 250 000 250 000 250 DOG 250 000 250 000 250 000 25C 000 25C 000 250 000 250 000 25C 000 250 000 Vintng Sparks Cash N/A NIA N/A N/A Book Value Yield 5 865 409 c 00% 5 000 G 00% 31 259 265 2 45% 250 000 -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 20% 250 000 2 15% 250 000 2 20% 250 000 1 35% 250 ODD 2 05% 250 000 1 00% 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°/c 250 000 2 00% 250.000 2 00'1, 250 000 1 '5% 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 DOC 2 50% 250 DOC 2 45% 250 000 1 90% A-4 Treasur~~-Bank of New Yortc :V1n1ng Sparks; CD -Ba nk of New Yor~ (V onong Sparks) AdJ Independent Bk/Meor.phos lnoust na1&Com Bank Ch1na l'lternallonal Bk Ch1cago lsbella Bank JP MORGAN CHASE BANK L CA Bank Corp Lakes1de Bank Live Oak Bankmg Company L.;ana Savrn gs Ba nk Merca ntr' Ban k NA Merqck Bank M1d-M1ssoun Bank Morgan Stanley Bank NA Morgan Stan ley PVT Bank Mortar. Commun1ty Northfoled Bank Partners Bank Califor'lla Peoples Un1ted Bank Preferred Ba nk La Catrforn1a Sallie Mae Bank/Salt Lake S1gnature Bank of Arkansas S1gnature Bk Chrcagc Southern States Bank Stearns Bank NA Summ1t Community Bank Suntrust Bank Synchrony Bank Thord Fed Sav&Ln Clevland Tnad Bank Unror. Bank and Trust/OX Un·ted Community Bk II• Wash1ngtan Trust Weterly Whotney Bank/MS Worlds Foremost Bank Yadk1n Bank U'lited States Treas Un1ted States Treas Un1ted States Treas J11tea States Treas Ur,rted States T reas Unned States Treas 45383USK2 45581EAF8 45906ABR7 464209CJ2 48121C802 801~98LK6 512·osMD6 538036CG7 549103WGO 58~33AES4 59013JC23 59541KBP1 6i/47M073 61760ADT3 619165HP1 66612ABX5 70212 YAU6 71270QQJ8 740367EW3 795450ZF5 82669LGD9 82669VBY6 843879BB2 857894SD2 86604XML7 86789VUPO 8~165HRY8 88413QBU1 88579NBP7 905200CE9 90983WBNO 940637HW4 966594AW3 98t571CV2 984308EG7 9128282T6 912828080 912828S76 9· 2828TH3 912828WS5 912828XM7 • "16/2016 61212017 10/2012017 91712016 2115/2017 1 '12/2018 1/13i20F 8/18/2016 7/812016 12/29/2017 1011112017 1/19/2018 12/2112011 9/7/2011 1/19/20 18 1012512017 11/18!2016 1/18.'2017 1./912016 10112/2016 C/"512016 ·118/2017 1212012017 11.•3/2017 • 12612018 812912017 61212017 11/24/2017 61212016 1/20/2011 1011212011 .1/18/2016 1.'2512017 112112017 9/1912016 81312018 81312018 713./201 8 ;-13'12018 8124'2018 7131/2018 2-Mos 6C. Mas 5-t: Mm, 35 Mas 60 Mas 6C Mas 5~ Mas 4e Mas 48 Mos 36 Mas 6C Mos 62 Mas 35 Mas 24 Mos 35 Mas 60 Mas 35 Mos 60 Mos 36 Mos 36 Mos 48 M as 60 Mos 40Mos 35 Mos 30 Mos 50 Mos 60 Mas 48 Mas 46 Mos 30 Mos 54 Mas 36 Mos 35 Mos 36 Mas 36 Mos 12 Mos 12 Mas 35 Mas 12 Mas 10 Mos 24 Mos ·2· '6/20'9 6.212022 4/2Jt2:J22 S/9/20.9 2/15/2022 1112/2023 -113.'2021 8'1912020 71812020 12129/2020 10111/2022 1119/2023 12:2112020 9/9120'9 111912021 ..0!25/2022 1111812019 111812022 1.1812019 ·a;' 512019 711512020 1 ;/8/2022 412012021 111312020 71 2612021 812912022 61212022 11'2412021 41212020 712212019 4/1212022 .. ,.8i2C"9 .,2-12020 1 !2'12020 911912019 8/31/2019 813112019 713112021 7/3112019 6130/2019 7131/2020 $ $ $ $ $ $ $ $ $ $ $ $ 25C DOC 25C JOC 25C 000 25C OOJ 25C 00;) 25C 080 25C JOO 25C COO 250 000 250 DOD 250 DOD 250 000 25C 000 250 DOD 25C DOC 250 000 250 000 250 000 250 000 250 000 250 ODD 250 ODD 25C 000 250 000 250 DOC 250 000 25C DOD 25C DOD 250 ODD 25C DOD 250 DOD 250 000 250 ODD 20G 000 250 000 soc 000 500 000 1 000 000 1 ooc 000 '000 000 '000 000 22 450 000 Total Investment: s s s s $ $ $ $ $ 250 000 1 .5% 250 000 2 O~"!c. 250 000 2 1C% 250 000 • 1 50/c. 250 DOD 2 30% 250 000 2 35% 250 000 ~ Sl5:% 250 000 1 25% 250.000 ~ 15% 250.000 ;: 20% 25oooo 2 ·c% 250 ODD 2 35% 250 000 2 '5% 250 000 1 75% 250 DOD 2 15% 250 000 2 15°/c. 250 ooo , ·co;, 250 000 2 05% 250 DOD 1 15'~c 250 DOD 1 30% 250 000 1 15% 250 000 2 15% 250 000 2 00% 250 ODD 1 60% 250 DOD 2 20% 250 ODD 1 80% 250 000 2 40% 250 DOD 2 10% 250 ODD 1 25% 250 ODD 1 45% 250 000 2 05% 250 DOD 1 35% 250 DOD '-c% 200 000 ' -5% 250000 110% 500 000 1 2E'h 500 .000 1 63% 1 000 000 1 25% 1 000 000 c 88% 1 000 000 1 63% 1 000 000 1 63% $ 1135 171) $ 63 594.056 Total Investment Weighted Average Return 190% A-5 NOTE: Malaga Bank -CD 7% SUMMARY OF CASH BALANCE BY INSTITUTION MAY 2019 Vining Sparks -Treasury 8% Bank of the West 9% State of california -LAIF 49% (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 mrsstatements 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 rnvestments and complies with the rnvestment policy of the City of Rancho Palos Verdes as approved by the City Council. Furthermore, I certify that sufficrent investment liquidrty and anticipated revenues are available to meet the City's expenditure requirements for the next six months Respectfully submitted, l)lbcru.A.~ 7(zot/J1 Treasurer Dated