CC SR 20200505 E - March Treasurers Report
CITY COUNCIL MEETING DATE: 05/05/2020
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA DESCRIPTION:
Consideration and possible action to receive and file the March 2020 Cash
Balances/Monthly Treasurer’s Report
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the March 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: Trang Nguyen, Director of Finance
APPROVED BY: Ara Mihranian, 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
March 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 $63,170,220, with more than $31.7 million
or 50% of the total cash balance in the Local Agency Investment Fund (LAIF). The City
has more than $3.8 million or 6% 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 a total Certificates of
Deposit (CD) investments and Treasury Bills over $23.2 million or 37% of the total cash
balance and a money market account over $86,000 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 $19.5 million or 31% in cash balance,
and the Capital Improvement Projects (CIP) Fund has over $25.5 million or 40% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.6 million or 4%, over $1.1 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 $12.3 million or 20% in Other Restricted Funds.
The City’s cash balance decreased by $3 million from last month, and in comparison to
the same period last year, the cash balance only decreased by $0.2 million. The major
variance was attributed to the General Fund and the timing of disbursements for City-
approved projects. The major disbursements for this month included Hardy & Harper for
the Roadway Maintenance Project and the Signage Replacement Project, Sunbeam
Consulting for various projects with the City, Stay Green for the Citywide Landscaping
Maintenance, American Asphalt for the Residential Street Rehab Project, the Los
Angeles County Registrar-Recorder’s Office for the November 2019 local and municipal
elections, the Los Angeles County Sheriff ’s Department for law enforcement services,
and Aleshire & Wynder for legal services. 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
HSA Payment & Catch-up
Bank and Merchant Fees
Bank of the West
Operating
4 ,933,461.13
1,826,903 85
(4 ,203,49247)
(679, 11 1.85)
(26, 151.06)
2 ,000,000.00
3 ,851 ,609.60
367,372.49
219,690.75
1,521 .00
85,01 9.34
5,508 .27
6 79 ,111 .8 5
(3) The net adjustment was due to and vo1d checks and deposit adjustment.
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2020
Malaga Bank
Non-Negotiable Vining Sparks
Petty Cash LAIF-CITY CD Money Market
5 ,000.00 33,780,537.39 4 ,196,8 14 .71 58,850.66
27,407 .47
(2,000,000.00)
5,000.00 31 ,780,537.39 4 , 196,814.71 86,258.13
MARCH 2020 CASH BALANCE BY MAJOR FUNDS
1%
Vining Sparks YTD lnt
Investment Total Cash Received
23,250,000.00 66,224,663.89
1,826,903.85
512,907.77
(4 ,203,492.47)
(679, 111 .85)
1,256 4 1
2 ,000,000 .00
(2,000,000 .00)
23,250,000.00 63,170,21 9 .83 512,907.77
.GENERAL FUND 31%
•c i P40%
• EQUIPMENT REPLACE MENT 4%
.1911 A CT 2%
C HABITAT RESTORATION 1%
CQUIMBY 2%
C OTHER RE STRI CTED FUNDS 20%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUNO
Restricted by 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
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
Subtotal
GRANO TOTAL
BALANCE
FORWARD
21,726,418.08
0.00
26,434,343.42
2,643,028.52
0.00
0.00
29,077 3.71.!!14
1,418,470.05
28,656.00
34,728.36
20,837.82
0.00
1,245,913.29
420,953.17
111,742.86
948,384.93
2,979,084.10
162,897.80
1,174,315.77
140,192.82
843,586.29
766,065.04
17,270.06
553,545.21
0.00
0.00
780,644.52
98,314.23
0.00
1 '169,036.98
192,063.97
849,346.70
390,007.37
0.00
0.00
0.00
0.00
0.00
194,754.23
0.00
880,062.30
15 420,873.87
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2020
DEBIT CREDIT CASH
6,724,542.76 8,907 092.25 19.543,S68.69
0.00 0.00 0.00
925,723.90 1,845,982.01 25,514,085.31
25,655.01 15,697.02 2,652,986.51
0.00 0.00 0.00
0.00 0.00 0.00
951,37S.91 1,S61,679.03 28, 167,0'71.82
125,869.57 105,639.90 1 ,438,699. 72
48.73 0.00 28,704.73
71.30 0.00 34,799.66
72,854.68 93,692.50 0.00
0.00 0.00 0.00
6,281.78 132,685.62 1,119,509.45
710.51 15,086.11 406,577.57
12,947.93 0.00 124,690.79
53,052.78 3,968.00 997,469.71
67,082.19 2,252.63 3,043,913.66
250.03 43,750.00 119,397.83
40,651.54 7,764.90 1,207,202.41
44,145.97 40,782.14 143,556.65
1,434.40 0.00 845,020.69
10,056.74 4,529.20 771,592.58
7,749.50 25,000.00 19.56
114,754.77 9,209.87 659,090.11
0.00 0.00 0.00
0.00 0.00 0.00
1,326.59 1,024.76 780,946.35
0.00 0.00 98,314.23
40,907.28 40,907.28 0.00
1,987.75 0.00 1,171,024.73
326.59 0.00 192,390.56
1,444.25 0.00 850,790.95
637.83 52,792.74 337,852.46
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 0.00
331.16 0.00 195,085.39
0.00 0.00 0.00
97,847.04 85,279.71 892,629.63
702,770.91 664,365.36 15,459,279.42
63 170,219 .. 83
Total Investment: 63,170,219.83
Change In
Ending Cash
Balance
(2, 182,649.49·
0 00
(920,258.11)
9,957.99
0.00
0.00
(910,300:12)
20,229.67
48.73
71.30
(20,837.82)
0.00
(126,403.84)
(14,375.60)
12,947.93
49,084.78
64,829.56
(43,499.97)
32,886.64
3,363.83
1,434.40
5,527.54
(17,250.50)
105,544.90
0.00
0 00
301.83
0.00
0.00
1,987.75
326.59
1,444.25
(52, 154.91)
0.00
0.00
0.00
0.00
0.00
331.16
0.00
12,567.33
38,405.55
(3,054 444.06)
Change In
Ending Cash
Balance in%
·10%
0%
-3%
0%
0%
0%
-3%
1%
0%
0%
-100%
0%
-10%
-3%
12%
5%
2%
-27%
3%
2%
0%
1%
-100%
19%
0%
0%
0%
0%
0%
0%
0%
0%
-13%
0%
0%
0%
0%
0%
0%
0%
1%
0%
-5%
A-2
Investment
Local Agency Investment Fund (LAIF-CITY)
Note (1)
CD -Non-Negotiable
CD Non-Negotiable
CD-Bank of New York -V1n1ng Sparks (Non-
Negotiable)
Issuer of
Investment
State of California
Malaga Bank
Malaga Bank
Alleg1ance Bank
Texas
Ally Bank
American Bank Na
Le Mars
American Express
Bank FSB
American Express
Centurion
AXOS Bank
BMW Bank North
America
BMO Harris Bank
Bank of Deerfield
Bank Forward
Bankers Bank
Madison WI
Bar Harbor Bank &
Trust
Barclays Bank
Delaware
Baycoast Bank
Beneficial Bank
Bus1ness Bk of St
Louis
CIT Bank
Cap1tal One NA
Capital One Bank
USA
Cathy Bank
Community West
Bank
Continental Bank UT
Crossfirst Bank
Eaglebank
East Boston Savings
Bank
Enerbank USA
Exchange Bank
Farmers&Merchants
BK NEB
First Bank of
H1ghland
F1rst Commercial
Bank MS
First Financial Bank
First Federal SVGS
Bank
First Internet Bank of
In
First National Bank
of America
F~rst Nat' I Bank
Mich1gan
First Un1ted Bk &
Trust
Flagstar Bank
Gold Cast
Bank/Chicago
Goldman Sachs
Bank USA
Henry County Bank
OH
lndustnai&Com Bank
China
LCA Bank Corp
Lakes1de Bank
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
MARCH 2020
CUSIP#
01748DAY2
02007GKW2
024373AZ5
02587CHR4
02587DN38
05465DAK4
05580ASE5
05581W5Q4
061785EG2
062163BN9
06610RAT6
066851WV4
06740KKD8
072727AZ3
08173QBT2
12325EHV7
12556LBB1
14042RDA6
14042TBD8
149159NX9
20415QGX1
211163GYO
22766ABBO
27002YET9
27113PBM2
29266N6P7
301 074DF4
30781TBD9
319141GE1
31984GFA2
32021 MFC8
32031YCD4
32056GCQ1
32110YJT3
32114VBJ5
33742CAQO
33847E2J5
38058KDM5
38149MAU7
426336BF9
45581EAF8
801798LK6
51210SMD6
Acquisition
Date
N/A
2/23/2020
2/23/2020
11/3/2017
7/25/2019
9/27/2019
12/19/2017
3/21/2017
3/26/2020
8/16/2019
2/28/2020
9/25/2019
12/28/2019
12/20/2017
6/28/2019
7/12/2017
1/24/2020
10/7/2016
7/19/2017
8/23/2019
10/13/2016
7/24/2019
9/25/2019
7/26/2019
2/23/2018
6/9/2017
1/17/2020
1/20/2017
10/13/2017
7/19/2019
1/18/2017
6/7/2017
7/31/2019
2/21/2018
1/17/2018
7/14/2017
1/20/2017
1/12/2018
10/11/2019
6/12/2019
9/9/2016
5/31/2019
1/27/2017
6/2/2017
1/12/2018
1/13/2017
Term
N/A
24 Mos
24 Mos
60 Mos
36 Mos
36 Mos
48 Mos
60 Mos
48 Mos
18 Mos
60 Mos
42 Mos
60 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
36 Mos
60 Mos
48 Mos
24 Mos
60 Mos
60 Mos
24 Mos
48 Mos
37 Mos
60 Mos
60 Mos
27 Mos
54 Mos
36 Mos
45 Mos
36 Mos
60 Mos
60 Mos
60 Mos
54 Mos
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
3/26/2024
2/16/2021
2/28/2025
3/24/2023
12/18/2024
12/20/2021
6/28/2021
7/12/2022
1/24/2025
10/7/2020
7/19/2022
2/23/2022
10/13/2020
7/25/2022
9/24/2021
1/26/2021
8/23/2021
6/9/2022
1/17/2023
1/20/2022
10/13/2021
7/19/2021
1/18/2022
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
5/31/2022
1/27/2022
6/2/2022
1/12/2023
7/13/2021
Market
Value
$ 31,780.537
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250.000
3,946.815
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
250.000
250.000
250.000
Book
Value Yield
$ 31,780,537 1 79%
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250.000 1 50%
3.946815 1.40%
250,000 2.20%
250,000 2.15%
250.000 1 65%
250.000 2.20%
250,000 2 45%
250.000 1.65%
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%
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%
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%
250.000 115%
250.000 2. 50%
250.000 1.90%
250.000 2.05%
250,000 2.35%
250.000 1.95%
A-3
Investment
Treasury-Bank of New York(Vining Sparks)
Summary:
Local Agency Investment Fund (LAIF-CITY)
Certificate of Deposit -Malaga Bank
Certificate of Deposit -Malaga Bank
Certificate of Deposit -Vining Sparks
Treasury Bills-Vining Sparks
Total Investment
Issuer of
Investment
Landmark
Community Bank
Live Oak Banking
Company
Luana Savings Bank
Marlin Business
Bank
Medallion Bank Utah
Mercantil Bank NA
Merrick Bank
Mid-Missouri Bank
Morgan Stanley
Bank NA
Morgan Stanley PVT
Bank
Morton Community
Northfiled Bank
Peoples United Bank
Raymond James
Bank
Sallie Mae Bank/Salt
Lake
Signature Bank of
Arkansas
Signature Bk
Chicago
Southern States
Bank
State Bank of India
Sterling Bank POP
BLMO
Summit Community
Bank
Suntrust Bank
Synchrony Bank
Third Fed Sav&Ln
Clevland
Triad Bank
United Community
Bk Ill
Vision Bank of Iowa
Wellesley Bank
Wells Fargo Nat' I
Bank West
Wells Fargo Bank
United States Treas
United States Treas
United States Treas
United States Treas
United States Treas
31,780,537.39
250,000.00
3,946,814.71
18,250,000.00
5,000,000.00
59,227,352.10
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2020
CUSIP#
51507LBV5
538036CG7
549103WGO
57116ATMO
58404DFE6
58733AES4
59013JC23
59541 KBP1
61747MD73
61760AZ51
619165HP1
66612ABX5
71270QQJ8
75472RAN1
7954504P7
82669LGD9
82669VBY6
843879BB2
856285RS2
85916DVN2
86604XML7
86789VUPO
87165HRY8
88413QBU1
89579NBP7
90983WBNO
92834CCL4
94948LCRO
949495AQ8
949763D45
9128282J8
912828S35
912828S76
912828XH8
912828XM7
Acquisition
Date
8/23/2019
8/19/2016
7/8/2016
1/15/2020
9/18/2019
12/29/2017
10/11/2017
1/19/2018
12/21/2017
9/19/2019
1/19/2018
10/25/2017
1/18/2017
11/26/2019
11/16/2019
7/15/2016
11/8/2017
12/20/2017
11/27/2019
9/18/2019
1/26/2018
8/29/2017
6/2/2017
11/24/2017
6/2/2016
10/12/2017
11/29/2019
7/19/2019
1/17/2020
6/10/2019
7/15/2019
9/12/2019
7/31/2018
6/30/2019
7/31/2018
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 Mas
72 Mas
48 Mas
30 Mas
60 Mas
60 Mas
48 Mas
46 Mas
54 Mas
72 Mas
18 Mas
36 Mas
36 Mas
12 Mas
45 Mas
36 Mas
12 Mas
24 Mas
Maturity
Date
2/23/2022
8/19/2020
7/8/2020
1/15/2025
9/19/2022
12/29/2020
10/11/2022
1/19/2023
12/21/2020
9/19/2023
1/19/2021
10/25/2022
1/18/2022
11/26/2024
10/16/2024
7/15/2020
11/8/2022
4/20/2021
11/27/2024
9/18/2023
7/26/2021
8/29/2022
6/2/2022
11/24/2021
4/2/2020
4/12/2022
11/29/2024
1/19/2021
1/17/2023
6/10/2022
7/15/2020
6/30/2023
7/31/2021
6/30/2020
7/31/2020
Total Investment
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Market
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 2.40%
$ 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%
$ 59,227,352
Weighted Return 1. 78%
A-4
NOTE:
Ma laga Bank -CD
7%
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2020
SUMMARY OF CASH BAlANCE BY INSTITUTION
MARCH 2020
Vining Sparks-Money Market
0%
State of California -LAIF
50%
(1) LAIF market values will be reported to vary from book value if the C1ty 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 th1s 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 expenditure requirements for the next six months .
Respectfully submitted ,
Dated
A-5