CC SR 20200602 E - April Treasurer Report
CITY COUNCIL MEETING DATE: 06/02/2020
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the April 2020 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the April 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, 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
April 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 $65,015,821, with more than $31.9 million
or 49% of the total cash balance in the Local Agency Investment Fund (LAIF). The City
has more than $5.4 million or 8% 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 $22.5 million or 35% 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 $21.1 million or 32% in cash balance, and
the Capital Improvement Projects (CIP) Fund has over $25.8 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 19% in Other Restricted Funds.
The City’s cash balance increased by $1.8 million from last month, and in comparison to
the same period last year, the cash balance slightly decreased by $63,000. The major
variance was attributed to the timing of disbursements for City-approved projects. The
major disbursements for this month included Hardy & Harper for the Roadway
Maintenance Project and Community Development Block Grant (CDBG) Crosswalk Area
9 Project, Sunbeam Consulting for various projects with the City, American Technologies
for the City’s facility deep cleaning due to COVID-19, DCA Civil Engineering Group for
the Crest Road to Crestridge Road Design Project, Norm Reeves Ford for a new vehicle
purchase for the Recreation and Parks Department, and Aleshire & Wynder for legal
services. All other 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 mterest IS pa1d quarterly
(2) Electronic Disbursements
Payroll
Payroll Charges
PVIC Sales Taxes
HSA Payment & Catch-up
Bank and Merchant Fees
Bank of th e West
Ope rating
3,851 ,609 60
4 ,211 ,475 36
(2 ,018 ,522 38)
(593 ,890 61)
43 ,130 28
2,000 ,000 00
(2 ,000 ,000 00)
5,493,802 25
368,060 53
217 ,147 53
2,715 00
1,519 34
4 ,448 21
593 ,890 61
CITY OF RAN CHO PALOS VERDES
MO NTH LY TREASURER'S REPOR T
APR IL 2020
Malaga Bank
Non.Negoti a b le Vining Sparks
Petty Ca sh LAIF-C ITY CD Money Market
5,000 00 31 780,537 39 4 196,814 71 86.258 13
161 ,409 83 14 398 34 27 600 03
750 000 00
2,000,000 00
(2 ,000,000 00)
5,000 00 31 ,941 ,947 22 4,211 ,213 05 863 ,858 16
(3) The net adjustment was due to and vo1d checks returned 1tem , and depos1t adJustment
APRIL 2020 CASH BALANCE BY MAJOR FUNDS
1%
Vining Sparks Y TD lnt
Investment Total Cash Rece ived
23,250 000 00 63 ,170,219 83
4,211 475 36
203 ,408 20 716 ,315 97
(2 , 018 ,522 38 )
(593 ,890 61)
(750 ,000 00) 43 .130 28
4,000 000 00
(4 ,000 ,000 00)
22 ,500 ,000 00 65 ,015 ,820 68 716 ,315 97
.GENERAL FUND 32%
.CIP40%
.EQUIPMENT REPLACEMENT 4%
1911 ACT 2%
C HABITAT RESTORATION 1%
C QUIMBY 2%
C OTHER RESTRICTED FUNDS 19%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQ UIPM ENT REPLACEMENT
BU ILDING REPLACEMENT
EMPLO YE E BENEF IT S
Subtotal
Restricted by La w or External Agencies
STREET MAINTENANCE
1972 ACT
EL PRADO
CDBG
CDBG-R
1911 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOS ITION C
PROPOS IT ION A
PU BLIC SAFETY GRANTS
MEASURER
MEASURE M
HABITAT RESTORATION
SUBREGION 1 MAINTENANCE
MEASURE A MAINTENANCE
ABALONE COVE SEWER DISTRICT
RPVTV
GINSBURG CULTURE ARTS BUILDING
DONOR RESTR ICTED CONTRI BUTIONS
FEDERAL GRANTS
STATE GRANTS
QUIMBY
LOW-MODERATE INCOME HOUSING
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICAT IO N
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROV EMENT DISTR IC T 9
SPECIAL TR USTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
19 ,543 ,868 .59
0 .00
25 ,51 4 ,085 .31
2 ,652 .986 .51
0 .00
0 .00
28 .167,071 .82
1 ,438 ,699 . 72
28 ,704 .73
34 ,799 .66
0 .00
0 .00
1 '119 ,509.45
406 ,577 .57
124 ,690 .79
997 ,469 .7 1
3 ,043 ,913 .66
119 ,397 .83
1 ,207 ,202.4 1
143 ,556 .65
845 ,020 .69
771 ,592 .58
19 .56
659 ,090 .11
0 .00
0 .00
78 0,946 .35
98 ,314 .23
0 .00
1,171 ,024 .73
192,390 .56
850 ,790 .95
337 ,852.46
0 .00
0 .00
0 .00
0 .00
0 .00
195 ,085 .39
0.00
892 ,629 .63
15,459,279.42
63 ,170 ,219 .83
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER 'S REPORT
APRIL 2020
DEBIT CREDIT CASH
9,947,462 .72 8,328 ,629 .39 21 ,162,701 .92
0 .00 0.00 0.00
412 ,947 .19 101 ,552 .38 25 ,825 ,480 .12
7 ,138 .21 51 ,809 .28 2 ,608 ,315.44
0.00 0 .00 0 .00
0.00 0 .00 0 00
420 ,085.40 153 ,361 .66 28,433 ,795 .56
234 ,585 .66 5,393 .30 1,667 ,892 .08
77 .21 0 .00 28 ,781 .94
921 .14 0 00 35 ,72 0 .80
36 ,846 .90 36 ,846 .90 0 .00
0.00 0 00 0 00
212 ,154 .50 61 ,879 .80 1,269,784 .15
24 ,289 .57 10 ,586 .72 420 ,280.42
312 .54 0 .00 125 ,003 .33
50 ,556 .64 199 ,388 .87 848 ,637.48
65 ,897 .91 7 ,412.40 3,102 ,399 .17
396 .17 0.00 119 ,794 .00
38 ,889 .72 20 ,123.00 1,225 ,969 .13
40 ,884 .67 4 ,712 .35 179 ,728 .97
2,272 .82 38 ,186 .25 809 ,107 .26
2,070 .53 1,654 .57 772 ,008 .54
30 .98 50 .54 (0 .00)
12 ,727 .15 366 ,825 .37 304 ,991 .89
0 .00 0 .00 0.00
0.00 0 .00 0.00
2 ,101 .99 1,799 .16 781 ,249 .18
0.00 0 .00 98 ,314 .23
20 ,510 .19 20 ,510 .19 0.00
3,149.60 0 .00 1 '17 4 , 174 .33
517.48 0.00 192 ,908 .04
2 ,288.42 0.00 853 ,079 .37
1,010 .64 16 ,096 .00 322 ,767 .10
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
52 4 .73 0 .00 195 ,610.12
0.00 0 00 0.00
64 ,095 .79 65 ,603 .75 891 ,121 .67
817 ,112.95 857 .069 .17 15,419 ,323 .20
11 ,184 ,661 .07 9,339 ,060 .22 65 ,015,820 .68
Total Investment· 65 ,015 ,820 .68
C hange In
Ending Cash
Balance
1,618 ,833 .3 3
0 00
311 ,394 .81
(44 ,671 .07)
0.00
0.00
266 ,723 .74
229 ,192 .36
77 .21
921 .14
0 .00
0.00
150 ,274 .70
13 ,702 .85
312 .54
(148 ,832 .23)
58 ,485 .51
396 .17
18,766 .72
36 ,172 .32
(35 ,913.43)
415 .96
(19 .56)
(354 ,098 .22)
0 .00
0 .00
302 .83
0 .00
0 .00
3,149 .60
517.48
2,288.42
(15 ,085 .36)
0.00
0 .00
0 .00
0 .00
0 .00
524 .73
0 .00
(1 ,507 .96)
(39 ,956 .22
1,845 ,600 .85
Change In
Ending Cash
Balance in %
8%
0%
1%
-2 %
0%
0%
1%
16%
0%
3%
0%
0%
13%
3%
0%
-15 %
2%
0%
2%
25 %
-4 %
0%
-100 %
-54 %
0%
0%
0%
0%
0%
0%
0%
0%
-4 %
0%
0%
0%
0%
0%
0%
0%
0%
0%
3%
A-2
In vestment
Local Agency Investment Fund (LAIF-CITY)
Note (1)
CD-Non-Negotiable
CD -Non-Negotiable
CD -Bank of New York -Vin1ng Sparks (Non-
Negotiable)
Iss uer of
Investment
State of Cal1forn1a
Malaga Bank
Malaga Bank
Alleg1ance Bank
Texas
Ally Bank
Amencan Ban k Na
Le Mars
American Express
Bank FSB
American Express
Centurion
AXOS Bank
BMW Bank North
America
BMO Harris Ban k
Bank of Deerfield
Bank Forward
Bankers Bank
MadiSOn W I
Bar Ha rbor Ba nk &
Trust
Barclays Bank
Delaware
Baycoast Ban k
Beneficial Ban k
Bus1ness Bk of St
Louis
CIT Bank
Cap1tal One NA
Capital One Ban k
USA
Cathy Bank
Celtic Bank
Community West
Bank
Continental Bank UT
Cros sfirst Bank
Eaglebank
East Boston Sav1ngs
Ba nk
Enerbank USA
Exchange Ba nk
Farmers&Me rchants
BK NEB
F~rst Ba nk of
Highland
First Commercial
Bank MS
F1rst Financial Bank
F~rst Federal SVGS
Bank
F~rsl Internet Bank of
In
First National Ba nk
of America
Flagstar Bank
Gold Cast
Bank/Chicago
Goldman Sachs
Bank USA
Henry County Bank
OH
lndustnai&Com Bank
Ch1na
LCA Bank Corp
Lakes1de Ba nk
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
APR IL 2020
CUS IP#
01748DAY2
02007GKW2
024373AZ5
02587CHR4
02587DN38
05465DAK4
05580ASE5
05581W504
061785EG2
062163B N9
06610RAT6
066851WV4
06740KKD8
072727AZ3
08173QBT2
12325EHV7
12556L BB 1
14042RDA6
14042TBD8
149159NX 9
15118RUX3
20415QGX1
211163G YO
22766ABB O
27002YET9
27113PB M2
29266N6P7
301074DF4
30781TBD9
319141 GE1
31984GFA2
32021MFC8
32031YCD4
32056GCQ1
32110YJT3
33847E2J5
38058KDM5
38149MAU7
426336BF9
45581EAF8
801798 LK6
51210S MD6
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
4/17/2020
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
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 Mas
24 Mas
60 Mas
36 Mas
36 Mas
48 Mas
60 Mas
48 Mas
18 Mas
60 Mas
42 Mas
60 Mas
48 Mas
24 Mas
60 Mas
48 Mas
60 Mas
30 Mas
48 Mas
36 Mas
24 Mas
60 Mos
18 Mas
36 Mas
60 Mas
36 Mas
60 Mas
48 Mas
24 Mas
60 Mas
60 Mas
24 Mas
48 Mas
37 Mas
60 Mas
60 Mas
36 Mos
45 Mas
36 Mas
60 Mos
60 Mas
60 Mas
54 Mos
Maturity
Da te
On Demand
2/21/2022
2/21/2022
11/3/2022
712512022
912712022
12/20/2021
41512022
312612024
2/16/2021
212812025
3/24/2023
12/18/2024
12/20/2021
6/28/2021
7/12/2022
1/24/2025
10/7/2020
7/19/2022
212312022
10/13/2020
7/25/2022
9/24/2021
4/17/2025
1/26/2021
8/23/2021
61912022
1117/2023
1/20/2022
10/13/2021
7/19/2021
1/18/2022
6/7/2022
7/30/2021
212212022
2/17/2021
7/14/2022
1/20/2022
6/13/2022
6/9/2020
5/31/2022
1/27/2022
61212022
1/12/2023
7/13/2021
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Market
Value
31 941 .947
250 000
3,961 ,213
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 ,941 ,947 1 65%
$ 250 ,000 1 50%
$ 3,961 ,213 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 50%
$ 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 2.50%
250 ,000 1 15%
250 ,000 2 50%
250 ,000 1 90%
$ 250 ,000 2 05%
$ 250,000 2 35%
$ 250,000 1 95%
A-3
In vestment
Treasury-Bank of New York(V1n1ng Sparks )
Summary.
Local Agency Investment Fu nd (LAIF-CITY)
Certificate of Deposit -Malaga Bank
Certifi cate of Deposit -Malaga Bank
Certificate of Deposit -Vining Sparks
Treasury Bills-Vining Sparks
Total Investment
Issuer of
Investment
Landmark
Community Bank
L1ve Oak Banking
Company
Luana Savtngs Bank
Marlm Busrness
Bank
Medal l1on Ba nk Utah
Mercantll Bank NA
Memck Bank
M id-Mtssouri Ba nk
Morgan Stanley
Bank NA
Morgan Stanley PVT
Bank
Morton Community
Northfiled Bank
Peoples United Bank
Raymond James
Bank
Sall ie Mae Ba nk/Sail
Lake
Signature Bank of
Arkansas
S1gnature Bk
Chicago
Southern States
Bank
State Ba nk of India
Sterling Bank POP
BL MO
Summit Community
Bank
Suntrust Ban k
Synchrony Ba nk
Third Fed Sav&Ln
Clevland
Vtston Bank of Iowa
Wellesley Ba nk
Wells Fargo Na t' I
Bank West
Wells Fargo Bank
United States Treas
Umted States Treas
Un1ted States Treas
United States Treas
United States Treas
31 ,941 ,947 .22
250 ,000 00
3,961 ,213 05
17 ,500 ,000.00
5,000 ,000.00
58 ,653 ,160.27
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2020
CUS IP#
51507LBV5
538036CG7
549103WGO
57116ATMO
58404DFE6
58733AES4
59013JC23
59541KBP1
61747MD73
61760AZ51
619165 HP 1
66612ABX5
71270QQJ8
75472 RAN1
7954504P7
82669LGD9
82669VBY6
843879BB2
856285RS2
85916DVN2
86604XML7
86789VUPO
87165 HRY8
88413QBU1
92834CC L4
94948 LCRO
949495AQ8
949763D45
9128282J8
912828S35
912828S76
912828X H8
912828XM7
Acquisition
Da te
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
1118/2017
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
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
Te rm
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
72 Mas
18 Mas
36 Mas
36 Mas
12 Mas
45 Mas
36 Mas
12 Mas
24 Mas
Ma tu rity
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
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
1,000 000
1,000 ,000
1 000 ,000
1,000 ,000
1,000 000
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Book
Val ue 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 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%
$ 58 ,653,160
Weighted Return 1 70%
A-4
NOTE:
Malaga Bank-CD ____.-
7%
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPOR T
APRIL 2020
SUMMARY OF CASH BALANCE BY INSTITUTION
APRIL 2020
Vining Sparks-Treasury
8%
Bank of the West
8% Vining Sparks-Money Market
1%
State of California-LAI F
49%
(1 ) LAIF markel values w1ll be reported to vary from book value 1f the C1ty calculated share of total LAIF assels IS less than the C1ty book value
To the best of my knowledge , there are no mtsstatements of matenal amounts within th1s report ,
or om issions of matena l amounts to cause the report to be m1sleadtng
I cert1fy that th1s report accurately reflects all C1ty Investments and complies with the 1nvestment policy of the C1ty
of Rancho Palos Verdes as approved by the C1ty Council Furthermore I cert1fy that suff1C1en1mvestmenl liQUidity
and antiCipated revenues are available to meet the Ctty 's expend iture requtrements for the next SIX months
Respectfully submitted
Date d
A-5