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CC SR 20190917 G - July Treasurer Report-CityRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 09/17/2019 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA DESCRIPTION: Consideration and possible action regarding the July 2019 Cash Balances/Monthly Treasurer’s Report RECOMMENDED COUNCIL ACTION: (1) Receive and file the July 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 July 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 $61,897,464, with more than $28.9 million or 47% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $5.7 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 $18 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. The City currently holds a money market account with Vining Sparks for the transaction of selling and purchase purposes. In summary, the City’s General Fund has over $18.2 million or 30% in cash balance, and the Capital Improvement Projects (CIP) Fund has over $26.9 million or 44% in cash balance. The remaining cash balances are in the Equipment Replacement Fund with over $2.6 million or 4%, over $1.4 million or 2% in the 1911 Act Fund, over $0.9 million 1 or 1% in the Habitat Restoration Fund, over $1.7 million or 3% in the Quimby Fund, and over $9.9 million or 16% in Other Restricted Funds. The City’s cash balance decreased by more than $1.8 million from last month, and in comparison to the same period last year, the cash balance decreased by $0.5 million. Expenditures for this month included disbursements for both FY18-19 and the month of July. The major variance was attributed to the decrease in General Fund for normal operating expenditures. The major disbursements for this month included Stay Green for the landscaping maintenance project, Los Angeles County Sheriff for law enforcement services, Aleshire & Wynder for legal services, CJPIA for the ADA transition plan, PCI for the pavement striping and marking project, and Hardy & Harper for the landslide road maintenance project. All other operating expenditures were disbursed in accordance with the FY18-19 and FY19-20 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 CaiPers Petty Cash Reimb Sales Taxes Postage Bank and Merchant Fees Bank of the Weat OPERATING 5,324, 765.01 2,091,644.84 (2,801 ,461.08) (1 ,357,409.96) 1,005.19 2,500,000.00 5, 758,544.00 382,239.58 236,669 05 725,394.90 518.00 2,712.00 2,500.00 7,376.43 1,357,409.96 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT JULY 2019 M•laga M1l11)11 B1nk Bank Non~otioble OPERATING PETTY CASH LAIF-CITY CD 5.000 00 31 ,259,265 49 4 ,165,129.92 191,468.12 (2,500,000 00) 5,000.00 28,950,733.61 4, 165,129.92 (3) The net adjustment was due to void checks returned item, and other adjustments . JULY 2019 CASH BALANCE BY MAJOR FUNDS 1% YTD INT INVESTMENT CD TOTAL CASH RECEIVED 23 ,018,056 48 63,772.216.90 2,091 ,644 84 191,468.12 191,468.12 (2,801 ,461 08) (1 ,357,409 96) 1,005.19 2,500,000 00 (2,500,000.00) 23,018,056.48 61,897,464 .01 191,468 12 .GENERAL FUND 30% .EQUIPMENT REPLACEMENT 4% .1911ACT 2% D HABITAT RESTORATION 1% .QUIMBY 3% .OTHER RESTRICTED FUNDS 16% A-1 CASH BALANCES BY FUND BALANCE FORWARD CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT JULY 2019 DEBIT CREDIT CASH Total Investment: 61,897,464.01 Change In Ending Cash Balance Change In Ending Cash Balance in% A-2 Investment Issuer of Investment Loca l Agency Investment Fun d I LAIF -CITY I State of Ca l 1forn 1a Note 111 CD -Non-Negot1able Malaga Bank CD -Non-Negotiable Malaga Bank CD-Bank of New York -V tn111g Sparks (No n-Abacus Fede ra l Negot1able 1 Sa v 1ngs Ba nk A ll egta nce Bank Texas A lly Ba nk Amenca n Express Bank FSB Amenca n Express Centurton Bank of New Eogland NH Bankers Bank Madtson WI Bankers Bank of the West Ba r Ha rbor Bank & Trust Barcfays Bank De laware Benef1C1al Bank Bus1ness Bk of St Lo .... us C aldwell Bank & Tru st Co Cao1ta l Ba nk L1tt le Rock Cap1tal One NA Capital One Bank USA Carroll County State Bank Iowa Commun1 ty West Bank Conti ne nt a l Bank UT Cro ssf trst Bank East Boston Sav1ngs Bank Enerbank USA Everba nk I Jacksonville FL Exchange Bank Fa~mers&Merchants BK NEB F1rst Bank of H1ghland F 1rst Commercia l Bank MS F trst F 1nanc 1a l Bank F ~rs t Federa l SVGS Ba nk F trst Inte rn et Bank of In F1 rst Nattonal Bank of A'11enca F 1(51 Nat I Bank MtChlgan Flagstar Bank Gold Cast Ban1<1Ch1cago Goldman Sachs Ba nk USA HSBC Bank USA Henry Co unty Bank OH Indepe ndent Bk/Memph1s lno ustrtai&Com Bank Cnt na CUS!P# 0025 ;1 AU O C17 4 80AY 2 G2007 GKW2 02587CHR4 0 2587 DN 38 063847AM9 06610RAT6 06610TDN2 066851WV4 067 4 0 KKD8 081 73QBT2 12325EHV7 128829ADO 139797FRO 14042RDA6 14042TBD8 '45087A F9 204 15QGX1 2 111 6 3GY O 2 27 66ABBO 27 113PBM2 29266N6P7 29976DQ78 301074DF4 30781TBD9 319141GE1 3 1984GFA2 3202 1MFC8 320 31YCD4 32056GCQ1 32110YJT3 32114VBJ5 33847E2J5 38058KDM5 38149MAU 7 4V434YGK7 4 26336BF9 45383USK2 4558 1 EAF8 CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT JULY 2019 Acquisition Date N/A 2123'2018 2/2312018 6/20/20 16 1113/20 17 7/25/20 19 1211 9 /20 17 3/2 1120 17 '0/21!2016 12 /2 0/2017 9/14/2016 5!2812019 7/12/201 7 10(;!201 6 <119/20 17 8/1 9/2016 6/22 /2016 10/13/2016 7/24/2019 8 11 2 /2 0 16 7/26120 19 2/2312 0 18 6/9/201 7 1/201201 7 10 /13/201 ' 8/12 12016 7/191 2019 1/1812017 617 1201< 7 /31/2019 2/2 11201 8 111712 01 8 i /14!2 01 7 1/2012017 111 212 018 6 /12/2019 91912 01 6 513 1/201 9 3/21/201 7 1/2 7/201 7 11 /16/20 16 61212017 Term NIA 24 Mas 24 Mas 39 M os 6 0 M os 36 IJi os 48 Mos 60 Mos 36 Mos 48 Mos 3E Mos 24 Mos 6 0 Mos 48 Mos 60 Mos 36 Mos 39 Mos 48 Mas 36 Mos 36 Mos 18 Mos 36 Mos 6C Mo s 60 Mos 48 Mos 36 Mos 24 Mos 68 Mas 60 Mos 24 Mos 4 6 Ma s 3 / Ma s 6C Mas 6C Mos 27 Mas 36 Mos 45 Mas 36 Mos 6 0 Mos 6 0 Mos 31 Mas 60 Mos Maturity Date Or Demand 212312020 212 312020 11 /3 /2022 712512022 12/20/20 2 1 4 /5/2 022 10/21/2019 1212012021 9 /13/201 9 6 /281202 1 711 212022 10/7/2020 7/1 9/2022 8 /1 9/20 19 9/2 3/2 019 10/1 3/2020 712512022 8/1 2/2019 1/26/202 1 8/23/2021 6 /9/2022 1120120 22 10/13/202 1 8112/2019 7/19/202 1 W8/2022 6 17/2022 7130/2021 2 /22/2022 2117/2021 7/14 /2022 1/20/2022 4/13/2020 6/13/2022 6/9 /2020 5 /3 112022 3/2 1/2022 1/27/2022 '21'6/20 19 612/2022 $ $ $ $ $ $ $ $ $ $ Market Value 28 95C c34 250 000 39 15 130 250 OJO 250 000 250 000 250 000 250 000 250 000 25C OOC 250 DO C 250 000 250 000 250 000 250 000 250 000 25C DOC 250 000 250 000 250 DOC 250 000 250 0 00 250 000 250 000 250 000 250 000 ::'50 DOC 25C 000 250 oo c 2 50 000 250 000 250 000 250 000 250 000 250 000 2 50 000 250 000 250 000 250 000 250 000 250 000 250 000 Vining Sparks Money Market NIA N/A N/A Book Value Yield $ 28 950 734 2 38% $ 250 000 1 15% $ 39 15 130 160% $ $ $ $ $ s $ $ $ $ $ $ $ $ $ $ $ 2 50 000 1 2 ~% 250 000 2 20% 250 .000 2 15% 250 000 2 20% 250 000 2 45% 250.000 1 20% 2 50 000 2 15% 250 000 1 15 % 250 000 2 10 % 250 000 2 20% 250 00 0 1 35 % 2 50 000 2 05% 250 000 1 00% 250 000 1 20% 250 000 1 40% 250 000 2 10% 250 000 1 00% 250 000 1 95% 250 000 2 30% 250 000 2 0 5% 250.000 2 00% 250 000 2 00% 250 000 1 15% 250 000 2 05% 250 000 2 05% 250 00 0 2 10% 250 000 1 95% 250 .000 2 45% 250 000 2 15% 250 000 2 05% 250 000 2 00% 250 000 2 00% 250 000 2 50% 250 000 1 15% 250 000 2 50% 250 .000 2 45% 2 50 000 1 90% 2 50 000 115% 250 .000 2 05% A-3 Investment Treasury-Bank of New York(VI'11ng Sparks) Summary Local Agency Investment Fund (LAIF-CITYi Cert1f1cate of Depos1t -Malaga Bank Cert1f1cate of Deposit -Malaga Bank Cert1f1cate of Oepos1t-V1n1ng Sparks Treasury Bills-V1n1ng Sparks Money Market -V1n1ng Sparks Total investment Issuer of Investment International Bk Ch1cago lsbella Bank JP MORGAN CHASE BANK L CA BanK Corp Lakes1de Bank L1ve Oak Bank1ng Company Luana Savmgs Bank Mercant1l Bank NA Memck Bank M1d-M1ssoun Bank Morgan Stanley Bank NA Morgan Stanley PVT Bank Morton Commun1ty Northf1led Bank Partners Bank Cal1forn1a Peoples Un1ted Bank Preferred Bank La Cal1forn1a Sall1e Mae Bank/Salt Lake S1gnature Bank of Arkansas S1gnature Bk Ch1cago Southern States Bank Stearns Bank NA Summ1t Commun1ty Bank Suntrust Bank Synchrony Bank Thrrd Fed Sav&Ln Clevland Tr1ad Bank United Community Bk Ill Wash1ngton Trust Weterly Wellesley Bank Wells Fargo Bank Wh1tney BankiMS Worlds Foremost Bank Yadkm Bank United States Treas Un1ted States Treas Ur'11ted States Treas Un1ted States Treas Un1ted States Treas U~1ted States Treas 28 950 733 61 250 000 00 391512992 18 200 000 00 5 000 000 00 323 ,256 12 56 ,639,119 6 5 CUSIP# 45906ABR7 464209CJ2 4B121C802 801798LK6 5121 OSM06 538036CG7 549103WGO 58733AES4 59013JC23 59541KBP1 61747M073 61760AOT3 6'9165HP1 66612ABX5 7C212YAU6 71270QQJ8 -40367EW3 795450ZF5 82669LG09 82669VBY6 843879BB2 857894S02 86604XML7 86789VUPO 87165HRY8 884130BU1 89579NBP7 90983WBNO 940637HW4 94948LCRO 949763045 966594AW3 981571 CV2 984308EG7 9128282T6 912828080 912828S76 9128282J8 912828XH8 912828XM7 CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT JULY 2019 Acquisition Date • 0120/2017 91712016 2/15/2017 1/1212018 1/13/2017 811912016 7/8/2016 12/29/2017 10111/2017 1/19/2018 12121/2017 9/712017 1/19/2018 10/25/2017 11/18/2016 1/18/2017 11/9/2016 '8/12/2016 7/15/2016 11/8/2017 12/2012017 1/1312017 1/2612018 8/29/2017 6/2/2017 1',12412017 61212016 10/12/2017 '1/1812016 7/19/2019 6110/2019 1125/2017 1121/2017 9/1912016 813/2018 81312018 7/31/2018 7/1512019 6/30/2019 7131/2018 Term 54 Mas 36 Mos 60 Mos 6C Mos 54 Mos 48 Mos 48 Mos 36 Mos 6C Mos 6C Mos 36 Mos 24 Mas 36 Mos 60 Mos 36 Mos 60 Mos 36 Mos 36 Mos 48 Mos 60 Mos 4C Mos 36 Mos 30 Mos 60 Mos 60 Mos 48 Mos 46 Mos 54 Mos 36 Mos 18 Mos 36 Mos 36 Mos 36 Mos 36 Mos 12 Mos 1 2 Mas 36 Mos 12 Mos 12 Mas 24 Mos Maturity Date 4/20'2022 9/9/2019 2/1512022 1/12/2023 7/1312021 8/19/2020 718/2020 12/29/2020 10/11/2022 1/19/2023 12/21/2020 9/912019 1/19/2021 10/25/2022 11/18/2019 1/1812022 11/8/2019 10/15/2019 7/15/2020 111812022 4/20/2021 1113/2020 712612021 8/29/2022 6/2/2022 11/2412021 4/212020 4/'2/2022 11/18120'9 1/191202' 6/1012022 112712020 112112020 9/19/2019 Total 8131/2019 8131/2019 7/3112021 7/1512020 6/30/2020 713112020 Total $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Market Value 250 000 250 000 250 000 250 ooc 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 ODO 250 000 250 000 250 000 250 000 250 000 25C 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 208 008 250 000 $ 18 200 000 $ $ $ $ 500 000 500 000 1 000 000 1 000 000 1 000 000 1 000 000 5 000 000 Tota Investment w1th V1J11ng Sparks $ 23 200 000 Vining Sparks Money Market 323 256 12 $ $ $ $ $ $ $ $ $ $ Book Value Yield 250 000 2 10% 250 000 1 15% 250 000 2 30% 250 000 2 35% 250 800 1 95% 250 000 1 25°/c 250 000 1 15% 250 000 2 20°/c 250000 210% 250 000 2 35% 250 000 2 15°/c 250 000 1 75% 250000 215% 250 000 2 15% 250 000 1 1 0"/, 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 ' 25% 250 000 2 05% 250 000 1 35% 250 000 2 00% 250 000 2 50% 250 000 1 70% 200 ooo 1 -5% 250.000 1 10% 18.200 000 500 000 1 25% 500 000 1 63% 1 000 000 1 25% s 1 000 000 1 50% $ 1 000 000 1 63% $ 1 000 ,000 1 63% 5 000 000 We1ghted Return 2 o-:-% A-4 NOTE: Malap Bank -CD 7% SUMMARY OF CASH BALANCE BY INSTITUTION JULY 2019 Vining Sparks -Treasury 8% Bank of the West 9% State of California-LAIF 47% (1) lAIF market values will be reported to vary from book value if the City calculated share of totallAIF 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 Randle Palos Verdes as approved by the City Council. FurthellllOfe, I certify that sufficient Investment liquidity and anticipated revenues are available to meet the Crty's expendrture requirements for the next six months. Dated A-5