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CC SR 20200707 K - May Treasurer Report CITY COUNCIL MEETING DATE: 07/07/2020 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA TITLE: Consideration and possible action to receive and file the May 2020 Cash Balances/Monthly Treasurer’s Report. RECOMMENDED COUNCIL ACTION: (1) Receive and file the May 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 May 2020. A separate report is prepared monthly for the Improvement Authority and presented under separate cover before the Authority Commission. The overall cash balances of the City totaled $66,028,324, with more than $32.9 million or 50% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $5.9 million or 9% of the total cash balance with Bank of the West and over $4.2 million or 6% with Malaga Bank. In addition, the City has a total Certificates of Deposit (CD) investments and Treasury Bills $22.75 million or 35% of the total cash balance and a money market account of over $0.1 million 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 $23.1 million or 35% in the cash balance, and the Capital Improvement Projects (CIP) Fund has over $2 5.5 million or 39% 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 $11.4 million or 17% in Other Restricted Funds. The City’s cash balance increased by over $1 million from last month, and in comparison to the same period last year, the cash balance increased by over $1 million as well. Compared to the same period the previous year, the significant variance was attributed to the timing of disbursements for City-approved projects. The major disbursements for this month included the Los Angeles County Sheriff’s Department for law enforcement services, Stay Green for the acacia and tree removal project and the citywide landscape maintenance project, American Asphalt for the residential street rehabilitation project, the Palos Verdes Peninsula Transit Authority for the City’s annual contribution, Aleshire & Wynder for legal services, Fire Grazers for the fuel modification project, and Interwest Consulting for the fuel modification program management. 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 DI SBURSEMENTS LESS: ELECTRONIC DISBURSEMENTS(2) ADJUSTMENTS(3) PLUS: TRANSFERS IN LESS: TRANSFERS OUT END ING BALANCE (1 ) All LAIF interest is paid quarterly. (2) Electronic Disbursements: Payroll Payroll Charges Bank and Merchant Fees Bank of the W est Operating 5,493,802.25 4,404,00745 (2,576, 133.23) (848,816.06) 3,215.93 500,000.00 (1 ,000,000.00) 5,976,076 .34 524,224.07 319,091.72 5,500 .27 848,816.06 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MAY 2020 Mal1ga Bank Non-Negotiable Vining Sparks Potty Coa h LAIF.C ITY CD Money Ma rket 5,000 .00 31,941 ,947.22 4,211 ,213.05 863,858.16 (043) 30,229.33 1,000,000.00 (750,000.00) 5,000 .00 32,941,946.79 4,211,213.05 144,08749 (3) The net adjustment was due to and void checks, returned item, and deposit adjustment. MAY 2020 CASH BALANCE BY MAJOR FUNDS 1% Vining Sparks YTDint lnveatment TotaiCoah Received 22,500,000 00 65,015,820.68 4,404,00745 716,315.97 (2,576, 133.23) (848,816.06) 33,444.83 250,000.00 1,750,000.00 (1 ,750,000.00) 22,750,000 00 66,028,323 .67 716,315.97 .GENERAL FUND 35% .CIP39% .EQUIPMENT REPLACEMENT 4% .1911ACT 2% []HABITAT RESTORATION 1% .QUIM BY 2% .OTHER RESTRICTED FUNDS 17% A-1 CASH BALANCES BY FUND Unrestricted GaiERAL FUND Restricted by Council Action BEAUTIFICATION FUND CIP EQUIPMENT REPLACEMENT BUILDING REPLACEMENT EMPLOYEE BENEFITS Subtobll 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 TR USTS Subto1al GRAND TOTAL BALANCE FORWARD 21,162,701.92 0.00 25,825,480.12 2,608,315.44 0.00 0.00 28,433,795.56 1,667,892.08 28,781.94 35,720.80 0 00 0 00 1 ,269, 784.15 420,280.42 125,003.33 848,637.48 3,102,399.17 119,794.00 1,225,969.13 179,728.97 809,107.26 772,008.54 0.00 304,991.89 0.00 0.00 781,249.18 98,314.23 0.00 1,174,174.33 192,908.04 853,079.37 322,767 .10 0.00 0.00 0.00 0.00 0.00 195,610.12 0 00 891,121.67 15,419,323.20 65,015,820.68 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MAY 2020 DEBIT CREDIT CASH 8,008,214.72 5,995,631.18 23,175,285.46 0.00 0.00 0.00 0.00 261,644.14 25,563,835.98 750.00 8,230.71 2,600,834.73 0.00 0.00 0 00 0.00 0.00 0.00 750.00 269,874.85 28,164,670.71 32,735.48 110,779.78 1,589,847.78 0.00 0.00 28,781.94 204.04 0.00 35,924.84 93,535.00 93,535.00 0.00 0.00 0.00 0.00 51,530.79 35,401.87 1,285,913.07 36,413.90 10,695.70 445,998.62 13,958.68 0.00 138,962.01 35,554.22 11,101.31 873,090.39 42,851.57 749,101.00 2,396,149.74 0.00 0.00 119,794.00 26,683.49 0.00 1 ,252,652.62 29,618.29 99,445.41 109,901.85 0.00 000 809,107.26 0 00 7,780.67 764,227.87 0.00 0.00 0.00 5,705.64 6,385.21 304,312.32 0.00 0 00 0 00 0.00 0.00 0.00 0.00 318.32 780,930 .86 0.00 0.00 98,314.23 37,522.15 37,522.15 0 00 0.00 0.00 1,174,174.33 0.00 0.00 192,908.04 0.00 0 00 853,079 .37 000 0.00 322,767.10 0.00 0.00 0 00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0 00 000 0.00 0 00 0.00 000 0 00 195,610.12 000 0.00 0.00 33,628.94 8,831.47 915,919.14 439,942.19 1,170,897.89 14,688,367.50 8,448,906.91 7,436,403.92 66,028,323.87 Total Investment: 66 ,028,323.67 Change In Ending Cash Balance 2,012,583.54 0 00 (261,644.14) (7,480.71) 0 00 0.00 (269,124.85 (78,044.30) 0.00 204 04 0.00 0.00 16,128.92 25,718.20 13,958.68 24,452.91 (706,249.43) 0.00 26,683.49 (69,827.12) 000 (7,780.67) 0.00 (679.57) 0 00 0.00 (318.32) 0.00 0.00 0.00 0.00 0.00 0.00 000 0.00 0.00 0.00 0.00 000 0.00 24,797.47 (730,955.70 1,012,502.99 Change In Ending Cash Balance in% 10% 0% -1% 0% 0% 0% -1% -5% 0% 1% 0% 0% 1% 6% 11% 3% -23% 0% 2% -39% 0% -1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 3% -5% 2% A-2 Investment Local Agency Investment Fund 1 LAIF-CITY) Note 111 CD-Non-Negotiable CD-Non-Negotiable CD-Bank of New York -V1n1ng Sparks (Non- Negotiable) Issuer of Investment State of Cal1forn1a Malaga Bank Malaga Bank Alleg1ance Bank Texas Ally Bank Amencan Bank Na Le Mars Amencan Express Bank FSB Amencan Express Centunon AXOS Bank BMW Bank North Amenca BMO Hams Bank Bank of Deerf1eld Bank Forward Bankers Bank MadiSOn WI Bar Harbor Bank & Trust Barclays Bank Delaware Baycoast Bank Benef1c1al Bank Bus1ness Bk of St LOUIS CIT Bank Cap1tal One NA Cap1tal One Bank USA Cathy Bank Celt1c Bank Community West Bank Continental Bank UT Crossfirst Bank Eaglebank East Boston Sav1ngs Bank Enerbank USA Exchange Bank F armers&Merchants BK NEB F1rst Bank of H1ghland F1rst Commerc1al Bank MS F1rst F1nanc1al Bank Ftrst Federal SVGS Bank F 1rst Internet Bank of In F1rst Nat1onal Bank of Amenca Flagstar Bank Gold Cast Bank!Ch1cago Goldman Sachs Bank USA Henry County Bank OH lndustr1ai&Com Bank China L CA Bank Corp Lakeside Bank CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT MAY 2020 CUSIP# 01748DAY2 02007GKW2 024373A25 02587CHR4 02587DN38 05465DAK4 05580ASE5 05581W5Q4 061785EG2 062163BN9 06610RAT6 066851WV4 06740KKD8 072727A23 08173QBT2 12325EHV7 12556LBB1 14042RDA6 14042TBD8 149159NX9 15118RUX3 20415QGX1 211163GYO 22766ABBO 27002YET9 27113PBM2 29266N6P7 301074DF4 30781TBD9 319141GE1 31984GFA2 32021 MFC8 32031YCD4 32056GCQ1 32110YJT3 33847E2J5 38058KDM5 38149MAU7 426336BF9 45581 EAF8 801798LK6 51210SMD6 Acquisition Date N/A 2/23/2020 2/23/2020 11/312017 7/2512019 9/27/2019 12/19/2017 3/21/2017 3/2612020 8/16/2019 2/28/2020 9/25/2019 12/28/2019 12/20/2017 6/28/2019 7/12/2017 1/24/2020 10/712016 711912017 8/2312019 10113/2016 7124/2019 9/2512019 4/1712020 7126/2019 212312018 619/2017 1/17/2020 1/20/2017 10113/2017 7119/2019 1/18/2017 6/7/2017 7/31/2019 2121/2018 1/17/2018 7/14/2017 1/20/2017 6/12/2019 9/9/2016 5/31/2019 1/2712017 6/2/2017 1112/2018 1/1312017 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 Mas 18 Mas 36 Mas 60 Mas 36 Mas 60 Mas 48 Mos 24 Mas 60 Mas 60 Mas 24 Mas 48 Mas 37 Mas 60 Mas 60 Mas 36 Mas 45 Mas 36 Mas 60 Mas 60 Mas 60 Mas 54 Mas Maturity Date On Demand 2/21/2022 2/21/2022 11/312022 7125/2022 9127/2022 12/20/2021 415/2022 3/26/2024 2/16/2021 2/28/2025 3124/2023 12/18/2024 12/20/2021 6/28/2021 7/12/2022 1/24/2025 1017/2020 7/1912022 2/23/2022 10/13/2020 7/25/2022 9/24/2021 4/17/2025 1/26/2021 8/23/2021 6/912022 1/17/2023 1120/2022 1 0/' 3/2021 7119/2021 1/18/2022 6/712022 7/3012021 2/22/2022 2117/2021 7114/2022 1/2012022 6/13/2022 6/9/2020 5/31/2022 1/27/2022 61212022 1/12/2023 7/1312021 Market Value $ 32941947 $ $ $ $ $ $ $ $ 25C 000 3961213 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 25C 000 250 000 250 000 250 000 250 000 250 000 Book Value Yield $ 32 941 947 1 36% $ $ $ $ $ $ $ 250 000 1 50% 3961213 140% 250 000 2 20% 250 000 215% 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% 250000 215% 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 Investment Treasury-Bank of New York(Vrnrng Sparks) Summary Local Agency Investment Fund (LAIF-CITY) Certificate of Depos1t-Malaga Bank Certrfrcate of Deposrt -Malaga Bank Cert1f1cate of Depos1t-V1n1ng Sparks Treasury Bills-Vinmg Sparks Total Investment Issuer of Investment Landmark Commun1ty Bank L1ve Oak Bank1ng Company Luana Sav1ngs Bank Malaga Bank FSB Marlm Bus1ness Bank Medal Iron Bank Utah Mercantil Bank NA Memck Bank M1d-M1ssoun Bank Morgan Stanley Bank NA Morgan Stanley PVT Bank Morton Commun1ty Northfrled Bank Peoples Unrted Bank Raymond James Bank Sallre Mae Bank/Sail Lake Signature Bank of Arkansas Srgnalure Bk Chrcago Southern States Bank State Bank of lndra Sterlrng Bank POP BL MO Summit Community Bank Suntrust Bank Synchrony Bank Thrrd Fed Sav&Ln Clevland ViSIOn Bank of Iowa Wellesley Bank Wells Fargo Nat'l Bank West Wells Fargo Bank Un1ted States Treas Un1ted States Treas Un1ted States Treas Un1ted States Treas Un1ted States Treas 32 941.946 79 250.000 DO 3 961.213 05 17 750.000 00 5.000.000 DO 59.903,159 84 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MAY 2020 CUSIP# 51507LBV5 538036CG7 549103WGO 56 102AAJ5 57116ATMO 58404DFE6 58733AES4 59013JC23 59541KBP1 61747MD73 61760AZ51 619165HP1 66612ABX5 11210QQJ8 75472RAN1 7954504P7 82669LGD9 82669VBY6 843879BB2 856285RS2 85916DVN2 86604XML7 86789VUPO 87165HRY8 88413QBU1 92834CCL4 94948LCRD 949495AQ8 949763045 9128282J8 912828S35 912828S76 912828XH8 912828XM7 Acquisition Date 8/23/2019 8/19/2016 7/8/2016 5/29/2020 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 11/29/2019 7119/2019 1/11/2020 6/10/2019 7/15/2019 9/12/2019 1/31/2018 6/30/2019 1/31/2018 Term 36 Mas 48 Mas 48 Mas 60 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 12 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 Maturity Date 2/23/2022 8/19/2020 7/8/2020 5/29/2025 1/15/2025 9/19/2022 12/29/2020 10/11/2022 1/19/2023 12/2112020 9/19/2023 1/19/2021 10/25/2022 1/18/2022 11/26/2024 10/16/2024 7/15/2020 .1/8/2022 4/20/2021 11/27/2024 9/18/2023 7/26/2021 8/29/2022 61212022 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 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 DOD 250 000 250 000 250 000 250 DOD 250 DOD 250 DOD 250 ODD 250 DOD 250 DOD 1 ODD ODD 1 000 ODD 1 DOD DOD 1 ODD DOD 1 ODD ODD $ $ $ $ $ $ $ $ $ $ $ $ $ Book Value Yield 250.000 1 90% 250 ODD 1 25% 250 ODD 1 15% 250 ODD 0 70% 250 ODD 1 75% 250 ODD 1 10% 250 DOD 2 20% 250 ODD 210% 250 DOD 2 35% 250 ODD 2 15% 250 ODD 1 85% 250 ODD 215% 250 DOD 215% 250 DOD 2 05% 250 ODD 1 85% 250 ODD 1 90% 250 000 1 15% 250.000 2 15% 250 ODD 2 DO% 250 000 2 05% 250 000 1 65% 250 000 2 20% 250 000 1 80% 250 000 2 40% 250 000 210% 250 000 1 75% 250 000 2 00% 250 ODD 1 90% 250 000 2 50% 1 ODD ODD 1 50% $ 1 ODD ODD 1 38% 1 000.000 1 13% 1 000 ODD 1 63% 1 000.000 1 63% $ 59 903 160 We1ghted Return 1 55% A-4 NOTE: Malaga Ba n k -CD 6% CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MAY 2020 SUMMARY OF CASH BALANCE BY INSTITUTION APRIL2020 Vining Sparks -Treasury 8% Bank of t he West 9% Vining Sparks-Money Mar ket 0% State of california -LA IF 50% (1) LAIF market values will be reported to vary from book value if 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 expenditure requirements for the next six months. Respectfully submitted, Tr e~~ Dated A-5