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CC SR 20200204 E - Dec 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 December 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 December 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 $64,552,919, with more than $30.1 million or 47% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $6.3 million or 10% 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 a total Certificates of Deposit (CD) investments and Treasury Bills over $22.9 million or 36% of the total cash balance and a money market account over $0.9 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 $18.3 million or 29% in cash balance, and the Capital Improvement Projects (CIP) Fund has over $27.9 million or 43% in cash balance. The remaining cash balances are in the Equipment Replacement Fund with over $2.6 million or 4%, over $1.6 million or 3% in the 1911 Act Fund, over $0.8 million or 1% in the Habitat Restoration Fund, over $1.1 million or 2% in the Quimby Fund, and over $11.8 million or 18% in Other Restricted Funds. The City’s cash balance increased by $3.8 million from last month, and in comparison to the same period last year, the cash balance improved by $0.4 million. The major variance was due to the timing of disbursements for City projects. The major disbursements for this month included Aleshire & Wynder for the legal services, Johnson Favaro for Ladera Linda architectural professional services, EDCO Disposal for the street sweeping project, Daniel B. Stephens for the Portuguese Landslide Maintenance Project, and DCA Civil Engineering Group for the Storm Drain Deficiency Design Project. All other operating expenditures were disbursed in accordance with the Fiscal Year 2019-20 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 Petty Cash Reimb Postage Bank and Merchant Fees Bank of the West OPERATING 7,081 ,174.75 5,286,518.02 (894,565.05) (642,181.39) (27, 760.34) (4 ,500,000.00) 6 ,303 ,185.99 393,277.19 237,337.40 539.00 5,000.00 6,027.80 642,181 .39 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT DECEMBER 2019 Mologo Bank Non-Negotiable Vining Spartla PETTY CASH LAIF-CITY CD Money Morl<et 5 ,000.00 25,630,193.74 4,180,940.39 880,270.64 103,328 .42 4,500,000.00 5,000.00 30,130,193.74 4,180,940.39 983,599.06 (3) The net adjustment was due to quarterly adjustment, returned items and void cheeks. DECEMBER 2019 CASH BALANCE BY MAJOR FUNDS 1% YTDINT INVESTMENT CD TOTAL CASH RECEIVED 22,950,000.00 60,72 7,579 .52 5 ,286,51802 103,328.42 298,599.02 (894,565.05) (642 ,181 .39) (27 ,760.34) 4,500,000.00 (4 ,500,000 00) 22,950,000 .00 64 ,552,919.18 298,599.02 .GENERAL FUND 29% • EQUIPMENT REPLACEMENT 4% .1911 ACT3% I:IHABITAT RESTORATION 1% .QUIMBY2% .OTHER RESTRICTED FUNDS 18% A-1 CASH BALANCES BY FUND Unrestricted GEN£RAL FUND Restricted by Council Action BEAUTIFICATION FUND CIP EQUIPMENT REPLACEMENT BUILDING REPLACEMENT EMPLOYEE BENEFITS SUbtolal Restricted by Law or External Agencies STREET MAINTENANCE 1972 ACT 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 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 I~ I 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 42,123.27 428,77 1.19 0.00 1,052 .79 780,673 .30 98 ,821 .23 0 .00 1,254 ,967 .77 191 .234.21 845,676.7 9 473,530.56 0 .00 0 00 0 00 0 .00 74,266.88 195,376 .63 0 .00 910,572 .81 14 834 49.2.79 so 727 679.52 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 0.00 000 0.00 270,434.40 22.56580 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 ,719 .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 0.00 000 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 0.00 000 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 1006 316.711 297,33!1.61 15,543 472.98 12.838,133.39 9 ,013,793.73 64 552,919.18 Total Investment: 64 ,5 52 ,919 .18 Change In Ending Cash Balance 2,381 ,806.&4 000 751 ,327 .84 (16 ,775 .19 0.00 0 .00 734,552.66 221 ,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 (1 ,052 .79 1,500 .00 0 .00 0.00 (62,548 .00 0.00 0 .00 (32,41 7 .00 0 .00 0 .00 0.00 0.00 0.00 (1,468 .50 0 .00 8,511 .58 7011980.17 3.825,338.116 Change In Ending Cash Balance in °h 0 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 Investment Fund (LA IF-CITY ) Note (1; CD -Non-Negot1able CD-Non-Negotiable CD -Bank of New York -V1n1ng Sparks (Non- Negotiable I Issuer of Investment State of Cahfornta 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 Deerfield Bank Forward Bankers Bank MadiSOn WI Bar Harbor Bank & Trust Barclays Bank Delaware Benef1c1al Bank Bus tness Bk of St LOUIS CIT Bank Cap1tal One NA Cap1ta l One Bank USA Cathy Bank Community West Bank Cont1nental Bank UT Crossftrst Bank East Boston Sav1ngs Bank Enerbank USA Exchange Bank Farmers&Merchants BK NEB Fnst Bank of H1ghland Ftrst Commercta l Bank MS F1rst Ftnanctal Bank F ~rst Federal SVGS Bank Ftrst Internet Bank of In Ftrst Nattonal Bank of Amertca F~rst Nat'l Bank M1ch 1gan Fnst Un1ted Bk & Tr ust F lagstar Bank Gold Cast Bank/Ch1cago Goldman Sachs Bank USA HSBC Bank USA Henry County Bank OH lndustnai&Com Bank Ch 1na JP MORGAN CHASE BANK LCA Bank Corp Lakes tde Ba nk CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT DECEMBER 2019 CUSIPM 01748DAY2 02007GKW2 024373AZ5 02587CHR4 02587DN38 05580ASE5 061785EG2 062163BN9 06610RAT6 066851WV4 06740KKD8 08173QBT2 12325EHV7 12556LBB1 14042RDA6 14042TBD8 149159NX9 20415QGX1 211163GYO 22766ABBO 27113PBM2 29266N6P7 301074DF4 30781TBD9 319141GE1 31984GFA2 32021 MFCS 32031YCD4 32056GCQ1 32110YJT3 32114 VBJ5 33742CAQO 33847E2J5 38058KDM5 38149MAU7 40434YGK7 426336BF9 45581 EAF8 48121 C8Q2 801798LK6 51210SMD6 Acquisition Date N/A 2/23/2D1 8 2/23/2018 11/3/2017 7/25/2019 9/27/2019 12/19/2017 3/2 1/2017 8/16/2019 9/25/2019 12/28/2019 12/20/2017 6/28/2019 7112/20 17 1017/2016 71 19/2017 8/23/2019 10/13/2016 7124/2019 9/25/2019 7/26/2019 2/23/2D18 6/9/2D17 1/20/2017 10/13/20 17 l/19/20 19 1/18/20 17 6fi/2017 7/31/2019 2/21/2018 1/17/2018 7/14/2017 1/20/2017 1112/201 8 10/11/2019 6/12/2019 9/9/2016 5/31/2019 3/21/2019 1/27/2017 6/2/2017 2/15/2017 1/12/2018 1/13/2017 Term NiA 24 Mas 24 Mas 6D Mas 36 Mas 36 Mas 4e Mas 60 Mas 18 Mas 42 Mas 60 Mas 48 Mas 24 Mas 60 Mas 48 Mas 60Mos 30 Mas 48 Mas 36 Mas 24 Mas 18 Mas 36 Mas 60 Mas 6C Mas 48 Mas 24 Mas 60 Ma s 60Mos 24 Mas 48 Mas 3i Mas 60 Mas 60 Mas 21 Mas 54 Ma s 36 Mas 45 Mas 36 Mas 36 Mas 60 Mas 60 Mas 60 Mas 60 Mas 54 Mas Maturity Date On Demand 212312020 2/23/2020 11/3/2022 7 /25/2022 9/27/2022 12/20/2021 4/5/2022 2/16/2021 3/24/2023 12/18/2024 12/20/2021 6/28/2021 71 12/2022 1017/2020 711912022 212312022 10/13/2020 7/25/2022 9/24/2D21 1/26/2021 8/23/2021 6/9/2022 1/20/2022 10/13/2021 7/19/2021 1/18/2022 617/2022 7/30/2021 212212022 2/17/2021 7114/2022 •f20/2D22 4/13 /202D 4/11/2024 6/13/2022 6/9/2020 5/31/2D22 3/21/2D22 1/21/2022 6/2/2D22 2/15/2022 1112/2023 7113/2021 Market Value $ 30130194 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 250 000 3 930 940 25D 000 25D 000 250 000 250 000 250 000 25D DDO 250 ODD 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 25D 000 250 DOO 250 000 250 000 250 OOD 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 $ 30 .130194 2 04% $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 25D DOO 1 7 5% 3 930 940 1 60% 250 OOD 2 2D% 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 75% 250.000 2 15% 250 000 210% 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% 250000 215% 25D 000 2 05% 250 DOO 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 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 tLAIF-CITY) CenJfJcate of Depos11 -Malaga Bank Cert1f1cate of Depos 1t -Ma laga Bank Cert1f1cate of Depos1t -V1n1ng Sparks Treasury Bills-V1n1ng Sparks Total Investment Issuer of Investment Landmark Commun1ty Bank L1ve Oak Bank1ng Company Luana Sav1ngs Bank Medallion Bank Utah Mercantll Bank NA Mernck Bank M 1d-M1ssoun Bank Morgan Stanley Bank NA Morgan Stanley PVT Bank Morton Commun1ty Northf1led Bank Peoples Un1ted Bank Raymond James Bank Sall1e Mae Bank/Salt Lake S1gnature Bank of Arkansas S1gnature Bk Ch1cago Southern States Bank State Bank of lnd 1a Stearns Bank NA Sterling Bank POP BL MO Summ1t Commun1ty Bank Suntrust Bank Synchrony Ba nk Th~rd Fed Sav&Ln Clevland Tnad Bank Un 1ted Commun 1ty 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 Umted States Treas United States T reas Un1ted States Treas 30 .130.193 74 250.000 00 3.930.940 39 17.950.000 00 5 ,000 ,000 00 57 ,261 ,13413 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT DECEMBER 2019 CUSIP# 51507LBV5 538036CG7 549103WGD 58404DFE6 58733AES4 59013JC23 59541KBP1 61747MD73 6176DAZ51 619165HP1 66612ABX5 71270QQJ8 75472RAN1 79 54504 P7 82669LGD9 82669VBY6 843879BB2 856285RS2 857894SD2 85916DVN2 86604XML7 86789VUPO 87165HRY8 88413QBU1 89579NBP7 90983WBNO 92834CCL4 94948LCRO 949763D45 966594AW3 981571CV2 9128282J8 912828S35 912828S76 912828XH8 912828XM7 Acquisition Date 8/23/2019 811912016 71812016 9118/2019 12 /29/2017 1011112017 1119/2018 12/2112017 9/1912019 11191201 8 10125/2017 1118/2017 1112612019 111161201 9 7/15/2016 111812017 12120/2017 11127/201 9 111312017 9/1812019 112612018 812912017 61212017 11124120 17 6/212016 1011212017 11/2 9/2019 7119/20 19 6110/2019 112512017 1121/2017 7115/2019 911212019 7/311201 8 6130/2019 7/31/2018 Term 36 Mos 48 Mos 48 Mos 36 Mos 36 Mos 60Mos 60 Mos 36 Mos 48 Mos 36 Mos 60 Mos 60 Mos 72 Mos 60 Mos 48 Mos 60 Mos 40 Mos 72 Mos 36 Mos 48 Mos 30 Mos 60 Mos 60 Mos 48 Mos 46 Mos 54 Mos 12 Mas 18 Mos 36 Mos 36 Mos 36 Mos 12 Mos 45 Mos 36 Mos 12 Mos 24 Mos Maturity Date 2123/2022 811912020 71812020 9119/2022 1212912020 1011112022 111912023 1212112020 9119120 23 111912021 10/2512022 111812022 1112612024 10116/2024 711512020 1118/2022 4/2012021 1112 7/2024 1/1312020 9/1812023 7/26/2021 812912022 6/212022 1112412021 41212020 4112/2022 1112912024 1119/2021 611012022 112712020 112112020 7115/2020 613012023 7131/2021 613012020 7/3112020 Total Investment $ $ $ $ $ $ $ $ $ Market Value 250 000 250 000 250 000 250 DOD 250 000 250 ODD 250 000 250 000 250 000 250 000 2 50 000 250 000 250 000 250 000 250 DOD 250 000 250 DOD 250 000 250 000 250 000 250 000 250 000 250 DOD 250 000 250 000 250 DOD 250 DOD 250 000 250 000 250 000 200 000 1 DOD DOD 1 000 000 1 000 000 1 000 000 1 000 000 $ $ $ $ $ $ $ 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 ODD 2 15% 250 ODD 1 85% 250 000 215% 250 000 2 15% 250.000 2 05% 250 DOD 1 85% 250 000 1 90% 250 000 1 15% 250 000 2 15% 250 DOD 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 DOD 1 25% 250 000 2 05% 250 000 1 75% 250.000 2 00% 250 000 2 50% 250 .000 1 70% 200 ODD 1 75% 1 000.000 1 50% 1 000 DOD 1 38% 1 000.000 1 13 % 1.000.000 1 63% 1 000 .000 1 63% 57 261 134 We1ghted Return 1 95% A-4 NOTE: Malaga Bank -CD 6% CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT DECEMBER 2019 SUMMARY OF CASH BALANCE BY INSTITUTION DECEMBER 2019 Vining Sparks-Treasury 8% Bank of the West 10% I I State of California-LAIF 47% Vining Sparks-Money Market 1% (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 material amounts within this report; or omissions of material amounts to cause the report to be misleading. I cert~ that this report accurately refiects all Crty investments and complies with the investment policy of the City of Rancho Palos Verdes as approved by the City Council. Furthennore, I cert~ that sufficient investment liquidity and anticipated revenues are available to meet the City's expenditure requirements for the next six months. Dated A-5