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CC SR 20200204 D - Nov 2019 City Treasurer's Report CITY COUNCIL MEETING DATE: 02/04/2020 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA DESCRIPTION: Consideration and possible action to receive and file the November 2019 Cash Balances/Monthly Treasurer’s Report RECOMMENDED COUNCIL ACTION: (1) Alternately discuss and take other action related to this item. 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: Ara Mihranian, Interim 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 November 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 $60,727,580, with more than $25.6 million or 42% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $7.1 million or 12% of the total cash balance with Bank of the West, and over $4.2 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 38% of the total cash balance and a money market account over $0.8 million or 1% with Vining Sparks, our investment brokerage firm. The securities are held by the Bank of New York and are FDIC-insured. 1 In summary, the City’s General Fund has over $16 million or 26% in cash balance, and the Capital Improvement Projects (CIP) Fund has over $27.2 million or 45% in cash balance. The remaining cash balances are in the Equipment Replacement Fund with over $2.7 million or 4%, over $1.4 million or 2% in the 1911 Act Fund, over $0.9 million or 2% in the Habitat Restoration Fund, over $1.3 million or 2% in the Quimby Fund, and over $11.3 million or 19% in Other Restricted Funds. The City’s cash balance decreased by $1.3 million from last month, and in comparison to the same period last year, the cash balance decreased by $0.2 million. The major variance was due to the timing of disbursements for City projects. The major disbursements for this month included Stay Green for the citywide landscaping maintenance project, Kasa Construction for the Conestoga Trail Project, Aleshire & Wynder for the legal services, Sunbeam Consulting for the various City projects, Geologic Associates for the Palos Verdes Drive South Realignment and Straightening Project, and Palos Verdes Peninsula Land Conservancy for the acacia removal in the Fuel Modification Project. All other operating expenditures were disbursed in accordance with the FY 19-20 budgets. 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 Unemployment Insurance Bank and Merchant Fees (3) The net adjustment was due to void checks. Bank of the West OPERATING 8 ,424,614.59 2,421,062.67 (2,845,383.14) (920,067.41) 94804 7 ,081,174.75 558,547 .17 333,792.00 560.00 14,840.00 12,328.24 920,067.41 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT NOVEMBER 2019 Moilga Bank Non-Nigotilble Vining Sparka PETTY CASH L.AIF-CITY CD MoMylhrut 5 ,000.00 25,630,1 93.74 4 ,1 80,940 .39 880,270.64 5,000.00 25,630,193.7 4 4 ,180,940.39 880,270.64 NOVEMBER 2019 CASH BALANCE BY MAJOR FUNDS 2% YTDINT INVESTMENT CD TOTAl. CASH RECEIVED 22 ,950,000.00 62 ,071 ,019.36 2,421 ,062 .67 195,270.60 (2,845.38314) (920,067.41) 948.04 22,950,000.00 60,727,579.52 195,270.60 .GENERAL FUND 26% .EQU IPME NT REPLACEMENT 4% .1911 ACT 2% DHABITAT RESTORATION 2% .QUIMBY 2% .OTHER RESTRICTED FUNDS 19% A-1 CASH BALANCES BY FUND Unrestricted GENERAL FUND Restricted bv Council Action BEAUTIFICATION FUND CIP EQUIPMENT REPLACEMENT BUILDING REPLACEMENT EMPLOYEE BENEFITS Subtotal 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 MEASUREM 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 RETIRE IMPROVEMENT DISTRICT 9 SPECIAL TRUSTS Subtotal GRAND TOTAL BALANCE FORWARD 16,016.805.19 0 .00 27,190,218.47 2,686,063.07 0.00 0 .00 29,876,281 .54 1,073,799.57 28,532.18 33,075.56 0 .00 0 .00 1,369,286.10 414,877.27 97.495.36 867,998.51 2,749.745.39 153,626.95 1,024,879.25 84,466.31 877,662.00 761 ,980.91 42,123.27 428,771.19 0 .00 1,052.79 780,673.30 98,821 .23 0 .00 1,254,967.77 191 ,234.21 845,676.79 473,530.56 0 .00 0 .00 0 .00 0 .00 74,266.88 195,376.63 0.00 910,572.81 14,834,492.79 60,727,579.52 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT DECEMBER 2019 DEBIT CREDIT CASH 10,930 741.61 8 548,934.77 18,398.612.03 0.00 0.00 0.00 880.475.00 129,147.16 27,941 ,546 .31 21,600.00 38,375.19 2,669,287.88 0.00 0.00 0.00 0 .00 0 .00 0.00 902,075.00 167,522.35 30,610,834.19 233,877.02 12.243.08 1,295,433.51 0.00 0 .00 28,532.18 1,068.49 0 .00 34,144.05 25,360.00 20,241.18 5,118.82 0.00 0 .00 0.00 270,434.40 22,565.80 1,617,154.70 33,082.40 16,156.13 431.803.54 13,804.49 0 .00 111 .299.85 56,720.79 0 .00 924 ,7 19.30 68,381 .56 7,932.80 2 ,810.194.15 25,324.22 43,750.00 135,201 .17 42,533.29 0.00 1,067,412.54 48,216.94 8,844.85 123.838.40 0 .00 0.00 877,662.00 8 ,750.00 1,127.55 769,603.36 0.00 25,000.00 17,123.27 134,561 .06 7,798.39 555,533.86 0 .00 0 .00 0.00 1,044.81 2,097.60 (0.00 1,500.00 0.00 782,173.30 0.00 0 .00 98,821 .23 0 .00 0 .00 0.00 0.00 62,548.00 1,192,419.77 0.00 0 .00 191,234.21 0.00 0.00 845,676.79 0 .00 32,417.00 441,113.56 0.00 0 .00 0.00 0 .00 0.00 0.00 0 .00 0 .00 0 .00 0.00 0.00 0 .00 0.00 0.00 74,266.88 0 .00 1,468.50 193,908.13 0 .00 0.00 0 .00 41 ,657.31 33 ,145.73 919,084.39 1,006,316.78 297,336.61 15,543,472.96 12,839,133.39 9,013,793.73 64,552,919.18 Total Investment: 64,552,919.18 Change In Ending Cash Balance 2,381 ,806.84 0.00 751 ,327.84 (16,775.19 0 .00 0.00 734,552.65 221,633.94 0.00 1,068.49 5,118.82 0 .00 247.868.60 16,926.27 13,804.49 56,720.79 60,448.76 (18,425.78 42.533.29 39,372.09 0 .00 7 ,622.45 (25,000.00) 126,762.67 0.00 _11,052 .79 1,500.00 0 .00 0.00 (62,548.00 0 .00 0 .00 (32,417.00 0 .00 0 .00 0 .00 0 .00 0 .00 (1.468.50 0 .00 8,511 .58 708,980.17 3 ,825,339.66 Change In Ending Cash Balance In% 15% 0% 3% -1% 0% 0% 2% 21% 0% 3% 0% 0% 18% 4% 14% 7% 2% -12% 4% 47% 0% 1% -59% 30% 0% -100% 0% 0% 0% -5% 0% 0% -7% 0% 0% 0% 0% 0% -1% 0 % 1% 5% 6% A-2 Investment Local Agency lnveslmenl Fund (LAIF -C ITY) Nole (1) CD -Non-Negol1able CD-Non-Nego11able CD-Ba nk of New York -V1n1ng Sparks (Non- Negollable) Issuer of Investment State of Cal1forn 1a Malaga Bank Malaga Bank Alleg1ance Bank Texas Ally Bank Amencan Bank Na Le Mars Amencan Express Bank FSB Amencan Express Centunon BMW Bank North Amenca Bank of Deerf1eld Bankers Bank Madison WI Bar Harbor Bank & Trust Barclays Bank Delaware Benef 1c1al Ba nk Bus1 ness Bk of Sl LOUIS CIT Bank Cap1t a l One NA Cap1tal One Bank USA Cathy Bank Commun1ty West Bank Continental Bank UT Crossf1rst Bank East Boston Sav1ngs Bank Enerbank USA Exchange Bank F armers&Merch a nts BK NEB F trst Bank of H1g hla nd F~rst Commerc1al Bank MS FirSt Fmanc1al Bank F~rst Federal SVGS Bank F~rst Internet Bank of In F1 rst National Bank of Amenca F~rst Nat' I Bank M1ch tga n F 1rst Unlled Bk & Trust Flags tar Bank Gold Cast Bank!Ch1cago Goldman Sachs Bank USA HSBC Bank USA Henry County Bank OH Independent Bk/Memphls lndustnai&Com Bank Chma JP MORGAN CHASE BANK LCA Bank Corp Lakes1de Bank CUSIPI 01748DAY2 02007G KW2 024373A25 02587C HR4 02587 DN38 05580ASE5 061 785EG2 06610RAT6 066851WV4 06740KKD8 08173QBT2 12325EHV7 12556LBB1 14042 RDA6 14042TBD8 149159NX9 204150GX1 211 163GYO 22766ABBO 27113PBM2 29266N6P7 301074DF4 3078 1TBD9 319141GE1 31984GFA2 32021MFC8 32031YCD4 32056GCQ1 32110YJT3 32114VBJ5 33742CAQO 33847E2J5 38058KDM5 38149MAU7 40434YGK7 426336BF9 45383USK2 45581EAF8 481 2 1C802 801798LK6 51210SMD6 CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT NOVEMBER 2019 Acquisition Date N/A 212312018 212312018 111312017 712 5120 19 912712019 1211912017 3/2112017 8116/20 19 9/25/2019 12/20/2017 612812019 711212017 10/7/2016 7/19/2017 8/23/2019 10/13/2016 712412019 9/25/2019 7/2612019 2/2312018 61912017 112012017 10113/2017 7119/201 9 1118/2017 617/2017 7131/201 9 212112018 1/1712018 7114/2017 1/2012017 1112/2018 10/11/2019 611212019 91912016 5131/2019 3121/2019 112712017 11116/2016 61212017 2/1 512017 111212018 11 1312017 Term NI A 24 Mos 24 Mos 60 Mos 36 Mos 36 Mos 48 Mos 60 Mos 18 Mos 42 Mos 48 Mos 24 Mos 60 Mos 48 Mos 60 Mos 30 Mos 48 Mos 36 Mos 24 Mos 18 Mos 36 Mos 60 Mos 60 Mos 48 Mos 24 Mos 60 Mos 60 Mos 24 Mos 48 Mos 3 7 Mas 60 Mos 60 Mos 2~ Mos 54 Mos 36 Mos 45 Mos 36 Mos 36 Mos 60 Mos 37 Mos 60 Mos 60 Mos 60 Mos 54 Mos Maturity Date On Demand 212312020 212312020 111312022 712512022 912712022 12120/2021 4/512022 211612021 312412023 1212012021 6/28/2021 7112/2 022 10/7/2020 7119/2022 2/23/2022 10113/2020 712512022 912412021 112612021 8/23/2021 6/9/2022 1/20/2022 10/13/2021 7119/2021 1118/2022 61712022 713012 021 212212022 2/1712021 711412022 112012022 41 13/2020 4/11 12024 611312022 619/2020 513112022 312112022 112712022 1211612019 6/2/2022 211512022 1/12/2023 7113/2021 Market Value $ 25 630 194 $ 250 000 $ 3 930 940 $ $ $ $ $ $ $ $ $ $ $ s $ $ $ $ $ $ $ $ $ s $ $ $ $ 250 000 250 DOD 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 $ 25630194 2 10% $ $ $ $ $ $ $ $ $ $ $ $ s $ $ $ $ $ $ $ $ 250 000 1 75% 3 930.940 1 60% 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 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% 250 000 2 05% 250 000 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 00% 250 000 2 50% 250 000 1 15% 250 000 2 50% 250 000 2 45 % 250 000 1 90% 250.000 1 15% 250 000 2 05% 250 000 2 30% 250 000 2 35% 250 000 1 95% A-3 Investment Treasury-Bank of New York (V1n1ng Sparks) Summary Local Agency Investment Fund (LAIF-CITY ) Cert1f1cat e of Depos1t -Malaga Bank Cert1f1cate of Depos1t -Malaga Bank Certtflcate of Deposit -V1n1ng Sparks Treasury B1lls -Vin1ng Sparks Total Investment Issuer of Investment Landmark Commun1ty Ba nk L1ve Oak Bank1ng Company Luana Sav1ngs Bank Medallion Bank Utah Mercantil Bank NA Mernck Bank M1d-M1ssoun Bank Morgan Stanley Bank NA Morgan Sta nley PVT Bank Morton Commun1ty Northflled Ba nk Peoples United Bank Raymond James Bank Sall1e Mae Bank/Salt Lake S1g nature Bank of Arkansas S1gnature Bk Ch•cago Southern States Bank State Bank of lnd 1a Stearns Bank NA Sterl1ng Bank POP BL MO Summ1t Commun1ty Bank Suntrust Bank Synchrony Bank Third Fed Sav&L n Clev land Tnad Ba nk U n1ted Communtty Bk Ill V1s 1on Bank of Iowa Welles ley Ban k Wells Fargo Bank Whitney Bank!MS Worlds Foremost Bank Un1ted States Treas Un1ted States Treas Un1ted States Treas Umted States Treas Un1ted States T re as 25.630.193 74 250.000 00 3 930.940 39 17.950.000 DO 5.000.000 00 52 761.134 13 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT NOVEMBER 2019 CUSIP# 51 507LBV5 538036CG7 549103WGO 58404DFE6 58733AES4 5901 3JC23 5954 1KBP 1 61 747MD 73 61 76DAZ51 6 19165HP 1 666 12 ABX5 71270QQJ8 75472RAN1 7954504 P7 82669LGD9 82669VBY6 843879B B2 856285RS2 857894502 85916DVN2 86604XML7 86789VUPO 87 165HRY8 88413Q BU 1 895 79 NBP 7 90983WBN O 9 2834CCL4 94948LCRO 949763045 966594AW3 981571CV2 9128282J8 912828S35 912828S76 912828XH8 912828XM7 Acqu isitio n Date 8/23/20 19 8/19/2016 7/8/2016 9/18/2019 12/29/2017 10111120 17 1/19/20 18 12/21/201 7 9/1 9/20 19 1/1 9 /2018 10/25/2017 1/18/2017 11/26/2019 11/16/2019 7/15/20 16 1118/20 17 12/20/2017 11127/20 19 1/13/2017 9/18/2019 1/26/2018 8/29/2017 6/2/2017 11/24/2017 6/2 /20 16 10/12/2017 11129/20 19 7/19/2 01 9 6/10/2019 1/25/2017 1/21/2017 7/15/2019 9/12/2019 7/31/2018 6/30/2019 7/31 /201 8 Term 36 Mas 48 Mas 48 Ma s 36 Mos 36 Mos 60 Mos 60 Mos 36 Mos 48 Mos 36Mas 60 Mos 60 Mos 72 Mas 60 Mas 48 Mos 6 0 Mos 40 Mos 72 Mas 36 Mas 48 Mos 30 Mos 60 Mas 60 Mo s 48 Mos 46 Mos 54 Mos 72 Mos 18 Mos 36 Mos 36 Mos 36 Mas 12 Mos 45 Mos 36 Mas 12 Mas 24 Mas Maturity Date 2/23/2022 8/19/2020 71812020 9/19/2022 12/29/2020 10/11/2022 1/19/2023 12/2112020 9/19/2023 1/19/202 1 10/25/2022 1/18/2022 11/26/2024 10/16/2024 7/15/2020 11/8/2022 4/20/2021 11127 /2024 1/13/2020 9/18/2023 7/26/2021 8/29/2022 6/2/2022 11/24/2021 4/2/2020 4/12/2022 11129/2024 1/19/202 1 6/10/2022 1/27/2020 112112020 711512020 6/30/2023 7/31/2021 6/30/2020 7131/2020 Total In vestment $ $ $ $ s $ $ $ $ $ $ $ $ Maric:et Value 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 ODD 000 1 000 000 $ $ s $ $ $ $ $ $ $ $ $ Book Value Yield 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 2 05% 250 000 1 85% 250 000 1 90% 250.000 1 15% 250 .000 2 15% 250 000 2 00% 250 000 2 05% 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 75% 250 000 2 00% 250 000 2 50% 250 000 1 70 % 200 000 1 75% $ 1 000 000 1 50% $ 1 000 000 1 38% 1.000.000 1 13% 1.000 000 1 63% 1 000 000 1 63% 52.761 134 Wetghted Return 1 96% A-4 NOTE: Malaga Bank-CD 7% CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT NOVEMBER 2019 SUMMARY OF CASH BALANCE BY INSTITUTION NOVEMBER 2019 Vining Sparks -Treasury 8% Bank of the West 12% State of California -lAIF 42% VIning Sparks -Money Market 1% (1) LAIF marl<et 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 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 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 expanditure requirements for the next six months. A-5