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CC SR 20200407 D - Feb 2020 Treasurer Report CITY COUNCIL MEETING DATE: 04/07/2020 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA DESCRIPTION: Consideration and possible action to receive and file the February 2020 Cash Balances/Monthly Treasurer’s Report RECOMMENDED COUNCIL ACTION: (1) Receive and file the February 2020 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: Ara Mihranian, AICP, 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 February 2020. 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 $66,224,664, with more than $33.7 million or 51% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $4.9 million or 7% 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 $23.2 million or 36% of the total cash balance and a money market account over $58,000 or less than 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 $21.7 million or 33% in cash balance, and the Capital Improvement Projects (CIP) Fund has over $26.4 million or 40% in cash balance. The remaining cash balances are in the Equipment Replacement Fund with over $2.6 million or 4%, over $1.2 million or 2% 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 $12.1 million or 18% in Other Restricted Funds. The City’s cash balance decreased by $1 million from last month, and in comparison to the same period last year, the cash balance decreased by $0.5 million. The major variance was due to the timing of disbursements for City projects. The major disbursements for this month included Hardy & Harper for the roadway maintenance and the Residential Rehabilitation Areas 3 & 4 Project; Sunbeam Consulting for various projects with the City; Stay Green for the Citywide Landscaping Maintenance Project; the Los Angeles County Sheriff ’s Department for the law enforcement services; Siemens Industry for the purchase of streetlights; the Palos Verdes Peninsula Land Conservancy for the Fuel Modification Project; and Aleshire & Wynder for legal services. All other operating expenditures were disbursed in accordance with the FY19- 20 budgets. 2 A-1 BEGINNING BALANCE PLUS: DEPOSITS PLUS: INTEREST EARNINGS(1) LESS: CHECK D ISBURSEMENTS 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 HSA Payment & Catch-<JP Unemployment Insurance Bank and Merchant Fees Bonk o f the Waat Operating 6,994,244.06 2,713,141.83 (3,596,995.92) (604,122.42) 390,556.58 36,637.00 (1 ,000,000.00) 4,933,461 .13 367,028.48 219,094.87 5 ,279.01 5,807.97 6,912.09 604,122.42 (3) The net adjustment was due to and void checks and depos~ adjustment CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT FEBRUARY 2020 Malog.o Bonk Non-Negoliablo Vining Sportca Patty Caah LAIF-GITY CD MonayMI!bt 5,000.00 32,780,537.39 4,196,814.71 58,25618 594.48 1,000,000.00 5,000.00 33,780,537.39 4,196,814.71 58,850.66 FEBRUARY 2020 CASH BALANCE BY MAJOR FUNDS 1% Vining Sportca YTO int 111-nl ToiiiiCalll -·-23,250,000.00 67,284,852.34 2,713,141 .83 512,907.77 (3,596,995.92) (604,122.42) 391 ,151 .06 1,036,637.00 (1,000,000.00) 23,250,000.00 66,224,663.89 512,907.77 .GENERAL FUND 33% .EQUIPMENT REPLACEMENT 4% .1911ACT2% D HABITAT RESTORATION 1% .QUIMBV2% .OTHER RESTRICTED FUNDS 18% A-2 BALANCE CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT FEBRUARY 2020 CASH Total Investment: 66,224,663.69 Change In Ending Cash Balance Change In Ending Cash Balance in% A-3 Investment Local Agency Investment Fund (LAIF-CITY) Note (1) CD -Non-Negoliable CD -Non-Negotiable CD -Bank of New York -V1n1ng Sparks (Non- Negoliable) Issuer of Investment State of Ca lifornia Malaga Bank Malaga Bank Allegtance Bank. Texas Ally Bank Amencan Bank Na Le Mars Amencan Express Bank FSB American Express Centunon BMW Bank North Amenca BMO Harris Bank Bank of Deerfield Bank Forward Bankers Bank Mad1son WI Bar Harbor Bank & Trust Barclays Bank Delaware Baycoast Bank Beneficial Ba nk Business Bk of St Louis CIT Bank Capital One NA Cap1tal One Ba nk USA Cathy Bank Community West Bank Conlinenla l Bank UT Crossfirst Bank Eaglebank East Boston Sav1ngs Bank Enerbank USA Exchange Bank F armers&Mercha nts BK NEB First Bank of Highland F1rst Commerc1al Bank M S F 1rst F 1nancial Ba nk. First Federal SV GS Bank F 1rst Internet Bank of In First Nat1 onal Bank of Am enca F lfSt Nat'l Bank M1ch1gan F~rst United Bk & Trust Flagstar Bank Gold Cast Bank/Chicago Goldman Sachs Bank USA HSBC Bank USA Henry County Bank OH lndustnai&Com Bank China LCA Bank Corp Lakeside Bank CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT FEBRUARY 2020 CUSIP# 01746DAY2 02007GKW2 024373AZ5 02567CHR4 02587DN36 05580ASE5 05561W5Q4 061785EG2 062163BN9 06610RAT6 066651WV4 06740KKD8 072727AZ3 08173QBT2 12325EHV7 12556LBB1 14042RDA6 14042TBD8 149159NX9 204150GX1 211163GYO 22766ABBO 27002YET9 27113PBM2 29266N6P7 301074DF4 30781TBD9 3 19141GE1 31984GFA2 32021MFC6 32031YCD4 32056GCQ1 32110YJT3 32114VBJ 5 33742CAQO 33847E2J5 38058KDM5 36149MAU 7 40434YGK7 426336BF9 45581EAF8 801798LK6 51210SMD6 Acquisition Date N/A 2/23/2020 2/23/2020 11/3/2017 7/25/2019 9/27/2019 12/19/201 7 3/21/2017 8/16/2019 2/28/2020 9/25/2019 12/2 8/2019 12 /20/2017 6/28/2019 7/12/20 17 1/24/2020 10/7/2016 7/19/2017 8/2 3/2019 10/13/2016 7/24/2019 9/25/2019 7/26/2019 2/23/2018 6/9/2017 1/17/2020 1120/20 17 10/13/2017 7/1 9/2019 1/18/2017 6/7/201 7 7/31/2019 2/21/2016 1/17/2016 7/1 4/2017 1/20/201 7 1/12/2016 10/1 1/2019 6/12 /2019 9/9/20 16 5/31/2019 3/21/2019 1/27/2017 6/2/2017 1/12/2018 1/13 /2017 Term N/A 24 Mas 24 Mas 60 Mas 36 Mas 36 Mas 48 Mas 60 Mos 16 Mas 60Mos 42 Mas 60 Mas 46 Mas 24 Mas 60 Mas 46 Mas 60 Mas 30 Mas 48 Mas 36 Mas 24 Mas 18 Mas 36Mos 60Mos 36 Mas 60 Mas 48 Mas 24 Mas 60 Mas 60 Mas 24 Mas 48 Mas 37 Mas 60 Mas 60 Mas 27 Mas 54 Mas 36 Mas 45 Mas 36 Mas 36 Mas SO Mas 60 Mas 60 Mas 54 Mas Maturity Date On Demand 2/21/2022 2/21/2022 11/3/2022 7/25/2022 9/27/2022 12/20/2021 4/5/2022 2/16/2021 2/28/2025 3/24/2023 12/16/2024 12/20/2021 6/28/2021 7/12/2022 1/24/2025 10/7/2020 7/19/2022 2/23/2022 10/1 3/2020 7/25/2022 9/24/2021 1/26/2021 8/23/2021 6/9/2022 1/1 7/2023 1/20/2022 10/13/2021 7/19/2021 1118/2022 6/7/2022 7/30/2021 2/22/2022 2/17/2021 7/14/2022 1/20/2022 4/13/2020 4/11 /2024 6/13/2022 6/9/2020 5/3112022 3/2112022 1/27/2022 6/2/2022 1/12/2023 7/13/2021 Market Value $ 33.760.537 $ $ $ $ $ $ s $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 250.000 3.946.615 250.000 250.000 250.000 250.000 250.000 250 000 250.000 250.000 250.000 250 000 250.000 250.000 250.000 250.000 250.000 250 000 250 000 250 000 250.000 250 000 250.000 250 000 250.000 250.000 250,000 250.000 250 000 250.000 250 000 250.000 250 000 250 000 250.000 250 000 2 50 000 250.000 250.000 250 000 250 000 250.000 250.000 250.000 250.000 Book Value Yield $ 33.760.537 1 91% $ 250,000 1 50% $ 3.946.615 1 40% $ $ 250,000 2 20% 250,000 2 1 5% 250.000 1 65% 250,000 2 20% 250.000 2 45% $ 250,000 1.90% $ 250,000 1.90% $ 250.000 1 65% $ 250.000 1 75% 250,000 2 15% $ 250,000 2 10% $ 250.000 2 .20% $ 250,000 1 70% $ 250.000 1 35% $ 250.000 2 05% $ 250,000 1.95% s 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 1 70% $ 250,000 2 00% $ 250,000 2 00% $ 2 50.000 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 2 05% $ 250 .000 2 35% $ 250,000 1 95% A-4 Investment Treasury-Bank of New York(V1n1ng Sparks) Summary Local Agency Investment Fund (LAIF -CITY) Cert1ficate of Depos1t-Malaga Bank Certificate of Depos1t -Malaga Bank Certificate of Depos1t -V1ning Sparks Treasury B1lls -V1n1ng Sparks Tota l Investment Issuer of Investment Landmark Communtty Bank L 1ve Oak Bank1ng Company Luana Savi ngs Bank Marlin Business Bank Medall1on Bank Utah Mercantll Bank NA Memck Bank M1d-M1ssoun Ba nk Morgan Stanley Bank NA Morgan Stanley PVT Bank Morton Communtty Northf1led Bank Peoples United Bank Raymond James Bank Sallie Mae Bank/Sail Lake Signature Bank of Arkansas Signature Bk Ch1cago Soulhern States Bank State Bank of India Sterl1ng Bank POP BLMO Summit Commun1ty Bank Suntrust Bank Synchrony Bank Th~rd Fed Sav&Ln Clevland Tnad Bank Untted Communtty Bk Ill Vtston Bank of Iowa Wellesley Bank Wells Fargo Nat'l Bank W est Wells Fargo Bank United St ates Treas United Stales Treas Un1ted Stales Treas Un1 ted St ates Trea s United States Treas 33,780,537 39 250,000 00 3,946,814 7 1 18.250.000 00 5,000,000 00 61,227 ,352 10 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT FEBRUARY 2020 CUSIP# 5 1507LBV5 538036CG7 549103WGO 57116ATMO 58404DFE6 58733AES4 59013JC23 59541 KBP1 61747MD73 61760AZ51 6 19165HP1 66612ABX5 7 1270QQJ8 75472RAN1 7954504P7 82669LGD9 82669VBY6 843879BB2 856285RS2 85916DVN2 86604XML7 86789VU PO 87 165HRY8 88413QBU1 89579NBP7 90983WBNO 92834CCL4 94948LCRO 949495AQ8 949763045 9128282J8 912828S35 912828S76 912828XH8 912828XM7 Acquisition Date 8123120 19 811912016 71812 016 111 512020 911812019 1212912017 10111120 17 111 912018 1212 112017 9/1912019 11191201 8 10/2512017 111812017 111261201 9 111161201 9 711 512016 111812017 1212012017 1112712019 9/1812019 112612018 812912017 61212017 1112412017 61212016 1011212017 1112912019 711912019 111 712020 611012019 711 5120 19 911 212019 713112018 6 13012019 713 112018 Term 36 Mas 48 Mas 48 Mas 60 Mas 36 Mas 36 Mas 60 Mas 60 Mas 36 Mas 48 Mas 36 Mas 60 Mas 60 Mas 72 Mas 60 Mas 48 Mas 60 Mas 40 Mos 72 Mas 48 Mas 30 Mas 60 Mas 60 Mas 48Mos 46 Mas 54 Mas 72 Mos 18 Mos 36 Mas 36 Mas 12 Mas 45 Mas 36 Mos 12 Mos 24 Mas Maturity Date 212312022 811 912020 71812020 1/1 512025 911912022 1212912020 1011112022 111912023 1212112020 911912023 111912021 1012512022 1/18/2022 1112612024 1011612024 71 15/2020 111812022 412012021 1112712024 9/18/2023 712612021 812912022 61212022 1112412021 41212020 411212022 1112912024 111 91202 1 111712023 611012022 711512020 613012023 713 112021 613012020 713 112020 Total In ve stment $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Mari<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 1.000.000 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 75% 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 65% 250.000 2.20% 250.000 1 80% 250.000 240% 250,000 2 10% 250 000 1.25% 250,000 2 05% 250,000 1 75% 250.000 2 00% 250,000 1 90% 250.000 2 50% 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% $ 6 1,227 .352 We1ghted Return 1 86% A-5 NOTE: Malaga Bank -CD 6% CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT FEBRUARY 2020 SUMMARY OF CASH BAlANCE BY INSTITUTION FEBRUARY 2020 Vlni ng Sparks -Treasury 8% Vining Sparks-Money Market 0% State of California -LAIF 51% (1 ) LAIF market values will be reported to vary from book value d 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. 1 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. Furthennore, I certify that sufficient investment liquidity and anticipated revenues are available to meet the City's expenditure requirements for the next six months. Dated