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CC SR 20191106 D - Sept 2019 Treasurer Report-CityRANCHO PALOS VERDES CITY COUNCIL MEETING DATE: 11/06/2019 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA DESCRIPTION: Consideration and possible action regarding the September 2019 Cash Balances/Monthly Treasurer’s Report RECOMMENDED COUNCIL ACTION: (1) Receive and file the September 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: Angelina Garcia, Interim 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 September 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 $62,049,100, with more than $25.4 million or 41% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $8.8 million or 14% of the total cash balance with Bank of the West, and over $4 million or 7% with Malaga Bank. In addition, the City has a total Certificates of Deposit (CD) investments and Treasury Bills over $22.9 million or 37% of the total cash balance and a money market account over $0.6 million or 1% with Vining Sparks, our investment brokerage firm. The securities are held by the Bank of New York and are FDIC-insured. In summary, the City’s General Fund has over $17.3 million or 28% in cash balance, and the Capital Improvement Projects (CIP) Fund has over $27.5 million or 45% in cash balance. The remaining cash balances are in the Equipment Replacement Fund with 1 over $2.7 million or 4%, over $1.3 million or 2% in the 1911 Act Fund, over $0.9 million or 2% in the Habitat Restoration Fund, over $1.4 million or 2% in the Quimby Fund, and over $10.7 million or 17% in Other Restricted Funds. The City’s cash balance increased by $0.3 million from last month, and in comparison to the same period last year, the cash balance improved by $1 million. Expenditures for this month included disbursements for both Fiscal Year 2018-19 and the month of September. The major variance was due to the timing of disbursements for City projects. The major disbursements for this month included Stay Green for the landscaping maintenance project, Kasa Construction for the Conestoga Tra il Project, Daniel B. Stephens for the Portuguese Bend Landslide Project, United Storm Water for the Santa Monica Catch Basin Project, and West Coast Arborists for the tree trimming project. All other operating expenditures were disbursed in accordance with the FY 18- 19 and FY 19-20 budgets. 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 quarter1y. (2) Eledtonic Disbunrements: Payroll Payroll Charges Petty Cash Reimb Bank and Merd'lant Fees Boonk oltheW.ot OPERAllNG 5,515,693.15 2,351 ,221 .92 (1 ,906,421 .88) (587,366.41) (25, 161 .05) 3,500,000.00 8,847,965.73 354,650.08 225,704.29 472.00 6,540.04 587,366.41 CITY OF RANCHO PALOS VERDES MONTHLY T REASURER'S REPORT SEPTEMBER 2011 Molap Boonk Non-*golloble P£TTYCASH LAIF-GITY co 5,000.00 28,950,733.61 4 ,185,129.92 (3,500,000.00) 5,000.00 25,450,733.61 4 , 165,129.92 (3) The net adjustment was due to void chad<a, returned item, and other adjustments. YTDINT Vlnint Sporb INVESTMENT Moneyllarbl CD TOTAL CASH RECEIVED 23,018,056.48 61 ,654,613.1 6 2 ,351 ,221 .92 (1 ,906,421.88) (587,366.41) 1,227.17 431 ,943.52 408,009.64 629,043.47 4,129,043.47 (500,000.00) (4,000,000.00) 630,270.64 22,950,000.00 62,049,099.90 SEPTEMBER 2019 CASH BALANCE BY MAJOR FUNDS 2% .GENERAL FUND 28% • EQUIPMENT REPLACEMENT 4% .1911 ACT2% Q HAB ITAT RESTORATION 2% .QUIMBY2% .OTH ER RESTRICTED FUND517% A-2 CASH BALANCES BY FUND I Unrestricted I Restricted bjl_ Council Action BEAUTIFICATION FUND CIP EQUIPMENT REPLACEMENT BUILDING REPLACEMENT EMPLOYEE BENEFITS Restricted by_ Law or External Agencies STREET MAINTENANCE 1972ACT ELPRADO CDBG CDBG-R 191 1 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 CONTRIBUTIONS 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 PROTECTION REDEVELOPMENT OBLIGATION RETIR IMPROVEMENT DISTRICT 9 SPECIAL TRUSTS -" ---------- ~ BALANCE FORWARD 0 .00 26,787,347.27 2 ,662,432.26 0 .00 0 .00 917,169.91 28,189.50 32,634.78 0 .00 0 .00 1,436,093.83 431 ,909.57 96,501 .90 694,033.28 2,511 ,385.25 92,584.58 888,856.33 77,287.76 904,121 .73 755,798.29 66,236.59 332,352.25 0 .00 1,757.76 767,479.45 95,587.83 0 .00 1,563,887.44 154,314.39 835,546.68 508,178.02 0 .00 0 .00 0 .00 0.00 190,382.04 190,934.53 0 .00 628 068 29 I - CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT SEPTEMBER 2019 DEBIT CREDIT CASH I I 21 .62 21.62 0.00 1,097,425.32 299,869.52 27,584,903.07 39,227.09 42.79 2 ,701,616.56 0.00 0.00 0.00 0.00 0 .00 0.00 67,191 .26 81 ,312.40 903,048.77 194.23 0 .00 28,383.73 216.66 0 .00 32,851 .44 16,272.00 16,272.00 0.00 0 .00 0 .00 0.00 13,436.57 53 ,901 .77 1,395,628.63 33,691 .40 34 ,205.79 431 ,395.18 510.70 0 .00 97 ,012.60 65,101 .75 0 .00 759,135.03 85,535.47 0.00 2 ,596,920.72 56,704.12 43,750.00 105,538.70 58,470.74 12,604.75 934,722.32 50,879.96 67 ,956.60 60,211 .12 7 ,086.92 0 .00 911 ,208.65 14,117.06 4 ,492.12 765,423.23 581 .43 25,000.00 41 ,818.02 116,052.21 6,260.98 442,143.48 0.00 0 .00 0 .00 0 .00 712.95 1,044.81 10,462.82 1,392.75 776,549.52 2,726.40 0.00 98,314.23 300,000.00 300,000.00 0 .00 11 ,921 .73 157,818.78 1,417,990.39 36,045.91 0.00 190,360.30 5 ,734.32 0 .00 841 ,281 .00 3,385.60 0 .00 511 ,563 .62 0 .00 0 .00 0.00 158.08 158.08 0 .00 0.00 0.00 0 .00 0.00 0 .00 0.00 0 .00 1,029.94 189,352.10 2,144.50 0 .00 193,079 .03 0.00 0 .00 0 .00 112 092 37 32 7 10 53 7 07 450 13 , -... -. - Total Investment: 62,049,099.90 - Change In Ending Cash Balance 0 .00 797,555.80 39,184.30 0 .00 0 .00 (14,121 .1 4 194.23 216.66 0 .00 0.00 (40,465.20 (514.39 510 .70 65,101 .7 5 85,535.47 12,954.12 45,865.99 (17,076.64 7,086.92 9,624.94 (24,418.57) 109,791.23 0 .00 (712 .95 9 ,070.07 2 ,726.40 0 .00 (145,897.05 36,045.91 5 ,734.32 3,385.60 0 .00 0 .00 0 .00 0 .00 (1 ,029.94 2 ,144 .50 0 .00 79 381 84 -« I Change In Ending Cash Balance in % 0% 3% 1% 0 % 0% -2% 1% 1% 0% 0% -3 % 0 % 1% 9% 3% 14% 5% -22% 1% 1% -37% 33% 0 % --41% 1% 3% 0 % -9 % 23% 1% 1% 0% 0% 0 % 0 % -1% 1% 0% 13% ~ ~-:=_---- A-3 Investment Local Agency Investment Fund (LAIF-CITY) Note (1) CD -Non-Negotiable CD-Non-Negotiable CD -Bank of New York -VIning Sparks (Non- Negotiable) lsauer of Investment State of California Malaga Bank Malaga Bank Allegiance Bank Texas Ally Bank American Bank Na Le Mars American Express Bank FSB American Express Centurion BMW Bank North America Bank of Deerfield Bank of New England NH Bankers Bank Madison WI Bar Harbor Bank & Trust Barclays Bank Delaware Beneficial Bank Business Bk of St Louis CIT Bank Capital One NA Capital One Ban k USA Cathy Bank Community West Bank Continental Bank UT Crossfirst Bank East Boston Savings Bank Enerbank USA Exchange Ba nk Farmers& Merchants BKNEB First Bank of Highland First Commercial Bank MS First Fin ancial Bank First Federal SVGS Bank First Internet Bank of In First National Bank of America F ~rst Nat' I Bank Michigan Ftagstar Bank Gold Cast Bank/Chicago Goldman Sachs Bank USA Henry County Bank OH Independent Bk/Memphis lndustriai&Com Bank China International Bk Chicago JP MORGAN CHASE BANK LCA Bank Corp CUSIPf 01 748DAY2 02007GKW2 024373AZ5 02587CHR4 02587DN38 05580ASE5 061785EG2 063847AM9 06610RAT6 066851WV4 06740KKD8 081730BT2 12325EHV7 12556LBB1 14042RDA6 14042TBD8 149159NX9 204150GX1 211163GYO 22766ABBO 27113PBM2 29266N6P7 301074DF4 30781TBD9 319141GE1 31984GFA2 32021 MFC8 32031YCD4 32056GC01 32110YJT3 32 114VBJ5 33847E2 J5 38058KDM5 38149MAU 7 426336BF9 45383USK2 45581EAF8 45906ABR 7 48121C802 801798LK6 CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT SEPTEMBER 2019 Ac::quiaition Date N/A 2/23/2018 2/23/2018 11/3/2017 7/25/2019 9/27/2019 12/1 9/2017 3/21/2017 8/16/2019 9/25/2019 10/21 /2016 12/20/2017 6/28/2019 7/12/2017 10/7/2016 7/19/2 017 8/23/20 19 10/13/2016 7/24/2019 9/25/2019 7/26/20 19 2/23/2018 619120 17 1/20/2017 10/13/2017 7/1 9/2019 1/18/2017 6f7/2017 7/31/2019 2/21/20 18 1/17/2018 7/1 4/201 7 1/20/2017 1/12/2018 6/12/2019 9/9/2 016 5/31/2019 1/27/2017 11/16/2016 61212017 10/20/2017 2/15/2017 1/12/2018 Term N/A 24 Mas 24 Mas GOMes 36 Mas 36 Mas 48 Mas SOMes 18 Mas 42 Mas 36 Mas 48Mos 24 Mos 60 Mos 48 Mas 60 Mas 30 Mos 48 Mas 36 Mas 24 Mas 18 Mas 36 Mas 80 Mas 60 Mas 48 Mas 24 Mas 60 Mas 60 Mas 24 Mas 48 Mas 37 Mas 60 Mas 60 Mas 27 Mas 36 Mas 45 Mas 36 Mos 60 Mas 37 Mas 60 Mas 54 Mas 60 Mas 60 Mas Maturity Date On Demand 2/23/2020 2/2312020 11 /3/2022 7/25/2022 9/27/2022 12/20/2021 4/5/2022 2/16/2021 3/24/2023 10/2 1/2019 12120/2021 6/28/2021 7/12/2022 10/7/2020 7/1 9/2022 212312022 10/1312020 7/25/2022 9/24/2021 1/26/2021 8/2312021 61912022 112012022 1011312021 7/19/2021 1118/2022 6f7/2022 7/30/2021 2/2212022 2117/2021 71 1412022 1/20/2022 4/1312020 6/13/2022 61912020 513112022 112712022 12/16/2019 61212022 412012022 211512022 1/1212023 Martc:et Value $ 25.450.734 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 250,000 3.915.130 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250.000 250,000 250.000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250.000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250.000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 250,000 Book Value Yield 25,450,734 2.28% $ 250,000 1.75% $ 3,915,130 160'A> $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 250,000 2 .20% 250,000 2 .15% 250,000 1.65% 250,000 2.20% 250,000 2.45% 250,000 1.90% 250,000 1.65% 250,000 1.20% 250,000 2 15% 250,000 2.10% 250,000 2.20% 250 ,000 1.35% 250,000 2 05% 250,000 1.95% 250,000 1.40% 250,000 2.10% 250,000 1.75% 250,000 1.95% 250,000 2.30% 250,000 2 05% 250,000 2.00% 250,000 2 00% 250,000 2.05'A> 250,000 2 05% 250,000 2.10% 250,000 1.95% 250,000 2.4 5'A> 250.000 2.15% 250,000 2 05% 250,000 2 OO'A> 250,000 2 OO'A> 250,000 2.50% 250,000 1.15% 250,000 2 .50% 250,000 1 90% 250,000 1.15% 250,000 2.05% 250,000 2.10% 250,000 2.30% 250 ,000 2.35% A-4 Treasury-Bank of New York(Vining Sparks) Summary Local Agency Investment Fund (LAIF -C ITY) Certificate of Deposit -Malaga Bank Certrficate of Deposit -Malaga Bank Certificate of Deposit -Vining Sparks Treasury Bills -V ining Sparks Total Investment Lakeside Bank Landmark Commumty Bank Live Oak Banking Company Luana Savings Bank Medallion Bank Utah Mercantil Bank NA Merrick Bank Mid-Missouri Bank Morgan Stanley Bank NA Morgan Stanley PVT Bank Morton Community North fi led Ba nk Partners Bank California Peoples United Bank Preferred Bank La California Sallte Mae Bank/Salt Lake Srgnature Bank of Arkansas Signature Bk Chtcago Southern States Bank Stearns Bank NA Sterltng Bank POP BLMO Summit Community Bank Suntrust Bank Synchrony Bank Third Fed Sav&Ln Clevland Triad Bank United Community Bk Ill Washington Trust Weterly Wellesley Bank W ells Fargo Bank Whitney Bank/MS W orlds Foremost Bank United States Treas United States Treas United States Treas Untied States Treas United States Treas 25,450,733.61 250,000.00 3,9 15,129.92 17 ,950,000.00 5,000,000.00 52,565,863.53 51210SMD6 51507LBVS 538036CG7 549103WGO 58404DFE6 S8733AES4 59013JC23 59541KBP1 61747MD73 61760AZ51 619165HP1 6861 2ABX S 70212YAU6 71270QQJ8 740367EW3 7954SOZFS 82669LGD9 82689VBY6 843879BB2 857894SD2 85916DVN2 86604XML7 86789VUPO 8716SHRY8 88413QBU1 89579NBP7 90983WBNO 940637HW4 94948LCRO 949763D45 968594AW3 981571CV2 9 128282J8 912828S75 9 12828S76 9 12828XH8 912828XM7 1/13/2017 8/23/2019 8119120 16 718/2016 911812019 12/2912017 10/1112017 1119/2018 12/2112017 911912019 1119/201 8 1012512017 11/18/2016 1118/2017 1119/2016 101 1212016 7/15/20 16 11/812017 12120/20 17 1113/20 17 911812019 1126/20 18 8129/2017 61212017 11/24/2017 6/2/20 16 101121201 7 11/18/2016 71 1912019 6110120 19 112512017 112112017 711512019 9112/2019 7131/2018 6130/2019 7/31/2018 54 Mas 36 Mas 48 Mas 48 Mas 36 Mas 36 Mas 60 Mos 60 Mas 36 Mas 48 Mas 36 Mas 60 Mas 36Mos 60 Mas 36 Mas 36 Ma s 48 Mas 60 Mas 40 Mas 36 Mas 48Mos 30 Mas 60 Mas SOMas 48 Mas 46 Mas 54 Ma s 36 Mas 18 Mas 36 Mas 36Mos 36 Mas 12 Mas 45Mos 36 Mas 12 Mas 24 Mas 711312021 212312022 8119/2020 71812020 911912022 12/29/2020 1011112022 1119/2023 12121 /2020 9119/2023 1119/2021 10/25/2022 1111812019 111812022 11/8/2019 1011 512019 7115/2020 111812022 4120/2021 1113/2020 9/18/2023 7/2612 021 8/29/2022 6/2/2022 1112412021 41212020 4/1 2/2022 11/1 8/2019 1119/2021 6/10/2022 1/27/2020 112112020 7115/2020 6130/2023 7/31/2021 6/30/2020 713112020 Total Investment $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 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 $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 1,000,000 $ 1.000.000 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 250,000 1.95% 250 ,000 1.90% 250,000 1 25% 250,000 1.15% 250,000 1.70% 250,000 2.20% 250,000 2 .10% 250,000 2.35% 250,000 2.15% 250,000 1.85% 250 ,000 2 15% 250,000 2.15% 250,000 110% 250,000 2 OS% 250,000 1.15% 2 50,000 1.30% 250,000 1.15% 250,000 2.15% 250,000 2.00% 250,000 1.60% 250,000 1.65% 250,000 2 .20% 250,000 1.80% 250,000 2.40% 250,000 2.10% 250,000 1.25% 250,000 2.05% 250,000 1.35% 250 ,000 2 .00% 250.000 2.50% 250,000 1.70% 200,000 1.75% $ 1,000,000 1 SO'A. 1,000,000 1.38% $ 1,000,000 1.13% $ 1,000,000 1.63% $ 1,000,000 1.63% $ 52,565,864 Weighted Return 2 02% A-5 NOTE: Malaga Bank -CD 7% SUMMARY OF CASH BALANCE BY INSTITUTION SEPTEMBER 2019 Vining Sparks-Treasury 8% Bank ofthe West 14% State of California-LAIF 41% (1) LAIF 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 mat81ial 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, t certify that sufficient investment liquidity and anticipated revenues are available to meet the City's expenditure requirements lor the ne>d six months. Vining Sparks· Money Market 1%