CC SR 20200804 H - June 2020 Treasurer Report
CITY COUNCIL MEETING DATE: 08/04/2020
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the June 2020 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the June 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
June 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 $65,971,384, with more than $35.9 million
or 54% of the total cash balance in the Local Agency Investment Fund (LAIF). The City
has more than $3.2 million or 5% 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 $21.5 million or 33% of the total cash
balance and a money market account of over $1 million or 2% 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 $25.4 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 decreased by $57,000 from last month. In comparison to the
June balance from last year, the cash balance in this month increased by $1.7 million.
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 Stay Green for the Citywide Landscape Maintenance Project,
Aleshire & Wynder for legal services, Anchor Qea for the Storm Water Quality Project,
Hardy & Harper for the Road Maintenance Project, Sunbeam Consulting for the
Residential Rehabilitation Areas 3 and 4 Project, Palp Inc. for the Transit Improvement
Turnout Station Project, and the Palos Verdes Peninsula Land Conservancy for the
Acacia Removal Fuel Modification Project. All other expenditures were disbursed in
accordance with the Fiscal Year 2019-20 Budget.
This June report reflects preliminary numbers and the final report will be submitted after
year-end adjustment is completed.
2
BEGINNING BA LANCE
PLUS DEPOSITS
PLUS INTEREST EARN INGS(1)
LESS CHECK DISBURSEMENTS
LESS ELECTRONIC DISBURSEMENTS (2)
ADJUSTMENTS (3)
PLUS TRANSFERS IN
LESS TRANSFERS OUT
ENDING BALANCE
(1) All LAIF tnlerest IS patd quarterly
(2) Electron tc Disbursements
Payroll
Payroll Charges
Postage
Petty Cash
Bank and Merchant Fees
CITY OF RANCHO PALOS VERDES
MONTH LY TREASURER'S REPORT
JUNE 2020 (PRELIMINARY)
The June Treasurer Report will be re-submitted after the year-end adjustment is completed
Bank of the W es t
Operating
5,976 076 34
2 212 ,983 15
(1 703,189 88)
(598,678 87)
(12 00)
400,000 00
(3 026,250 00)
3,260 , 928 7 4
367 ,638 77
220 ,344 19
2,500 00
876 00
7,319 91
598 ,678 87
Pett y Cash LA IF-CITY
5,000 00 3294194679
3 000 000 00
5,000 00 35 941 946 79
Malaga Ban k
Non·Negoti able Vini ng Sp arks
CD Money Marke t
4 211 ,213 OS 144 087 49
13.750 30
1 294 458 06
(400 000 00)
4 224 963 35 1.038 545 55
(3) The net adjustment was due to depos1t adJu stment
JUNE 2020 CASH BALANCE BY MAJOR FUNDS
1%
Vini ng Spa rks
Investm ent Tota l Cash
22 750 ,000 00 66,028 323 67
2,212 983 15
13 ,750 30
(1,703 189 88 )
(598 678 87)
(12 00 )
4 694 458 06
(1 250 000 00) (4,676 ,250 00)
21 500 000 00 65 971 384 43
.GENERAL FUND 35%
.CIP 39%
YTD int
Received
730 .066 27
730 ,066 27
• EQUIPM ENT REPL ACEMENT 4%
.1911 ACT 2%
C HABITAT RESTORATION 1%
C QUIMBY 2%
C OTHER RESTRICTED FUNDS 17%
A-1
CASH BALANCES BY FUND
Unrestricted
G ENERAL FUND
Restricted by Council Action
BEAUT IFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
Restricted by Law or E xternal Agencies
STREET MAINTENANCE
1972 ACT
EL PRADO
CDBG
CDBG-R
1911 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOS ITION C
PROPOSITION A
PUBLIC SAF ETY GRANTS
MEASURER
MEASURE M
HABITAT RESTORATION
SUBR EGION 1 MAINTEN ANC E
MEASURE A MAINTENANC E
ABALON E COV E SEWER DISTRICT
RPVTV
GINS BURG C UL TURE ARTS BUILDING
DONOR RESTRICTED CONTRIBUTIONS
FEDERAL GRANTS
STATE GRANTS
QUIMBY
LOW-MOD ER ATE INCOME HOUSING
AFFORDAB LE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UND ERG RO UND UTILITIES
ROADWAY BE AUTIFICATION
WATE R QUALITY FLOOD PROTECTION
REDEV ELO PMEN T OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
23,175,285.46
0 00
25 ,563 ,835 .98
2 .600 ,834 .73
0 00
0 .00
28 ,164,670.71
1,589 ,84 7 .78
28 ,781 .94
35 ,924 .84
0.00
0.00
1,285 ,913 .07
445 ,998 .62
13 8 ,962 .01
873 ,090 .39
2,396 ,149 .74
119,794 .00
1,252 ,652 .62
109 ,901 .85
809 ,107 .26
764 ,227 .87
0 00
30 4 ,312 .32
0.00
0.00
780 ,930 .86
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
915 ,919 .14
14 ,688 ,367 .50
66,028 ,323 .67
CITY OF RANCHO PALOS VERDES
MONT HLY TREASURER'S REPORT
JUNE 2020
DEBIT CREDIT CASH
7 ,216 ,301.78 7 ,216,048 .08 23,17 5,539 .16
0.00 0 00 0 00
124 ,049 .10 206 ,912 .36 25 ,480 ,972 .72
33 ,104 .65 15 ,256 .37 2,618 ,683 .01
0.00 0 00 0.00
0.00 0 00 0.00
157 ,153.75 222 ,168.73 28 ,099 ,655 .73
156 ,314 .07 90 ,753.48 1,655 ,408 .37
50 .86 0.00 28 ,832 .80
197 02 0 00 36 ,121 .86
42 ,863 .00 30 ,185 .68 12 ,677 .32
0 00 0.00 0 00
35 ,712 .28 58 ,137 .07 1,263 ,488 .28
43 ,150 .34 31 ,568 .64 457 ,580 .32
237 .32 0 00 139 ,199 .33
50 ,367 .54 0 .00 923 ,457 .93
63 ,420 .92 184 ,531 .80 2 ,275 ,038 .86
185 .90 43,750 .00 76 ,229 .90
38 ,610 .52 264 .74 1,290 ,998.40
41 ,501 .35 62 ,305 .62 89 ,097 .58
1,429 .64 0 .00 810 ,536 .90
10 ,1 07 .80 3,867 .79 770 ,467 .88
25 ,000 .00 25 ,000 .00 0.00
1,080 .57 6 ,655 .72 298 ,737 .17
0.00 0.00 0.00
0.00 0 00 0 00
1,379 .98 97 .19 782 ,213 .65
0.00 0.00 98 ,314.23
98 ,288 .18 98 ,288 .18 0.00
2 ,074 .69 0.00 1,176 ,249 .02
340 .86 0.00 193 ,248 .90
1,507 .33 0 .00 854 ,586 .70
535 .27 59,490.45 263 ,811 .92
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
345 .63 0 .00 195 ,955 .75
0.00 0 00 0.00
112,076 .79 24 ,059.46 1,003 ,936.47
726 ,777.86 718,955.82 14 ,696 ,189 .54
8 ,100 ,233 .39 8 ,157 ,172 .63 65 ,971 ,384.4 3
Total Investment: 65 ,971 ,384.43
Change In
Ending Cash
Balance
253 .70
0 00
(82 ,863 .26)
17 ,848 .28
0 00
0 00
(65,014 .98)
65 ,560 .59
50 .86
197 02
12 ,677 .32
0 .00
(22,424 .79)
11 ,581 .70
237 .32
50 ,367 .54
(1 21 ,110 .88)
(4 3,564 . 1 0)
38 ,345 .78
(20 ,804 .27)
1,429 .64
6 ,240 .01
0.00
(5,575 .15)
0 00
0.00
1,282 .79
0 00
0 .00
2,074 .69
340 .86
1,507 .33
(58 ,955 . 18)
0 .00
0.00
0.00
0.00
0.00
345 .63
0.00
88 ,017 .33
7 ,822 .04
(56 ,939 .24
Change In
Ending Cash
Balance in %
0%
0%
0%
1°/o
0%
0%
0%
4%
0%
1%
0%
0%
-2%
3%
0%
6%
-5 %
-36 %
3%
-19%
0%
1%
0%
-2 %
0%
0%
0%
0%
0%
0%
0%
0%
-18%
0%
0%
0%
0%
0%
0%
0%
10 %
0%
0%
A-2
Investm ent
Local Agency Investment Fund (LA IF-CITY)
Note (1)
CD-Non-Negotiable
CD -Non-Negotiab le
CD -Bank of New York -V1mng Sparks (Non-
Ne gotiable)
Is suer of
Inve stmen t
State of California
Malaga Bank
Malaga Bank
Alleg1ance Bank
Texas
Ally Ba nk
Amencan Ba nk Na
Le Mars
Amencan Express
Ba nk FSB
American Express
Centur1on
AXOS Bank
BMW Ba nk North
Amenca
BMO Ha ms Ba nk
Bank of Deerfield
Ba nk Forward
Bankers Bank
Mad ison WI
Bar Harbor Ba nk &
Trust
Ba rclays Ba nk
Delaware
Baycoast Ba nk
Beneficial Ban k
Business Bk of St
LOUIS
CIT Ba nk
Capital One NA
Cap1tal One Ba nk
USA
Cat hy Bank
CeltiC Ba nk
Community West
Bank
Cont1nent al Bank UT
Crossfirst Ba nk
Ea glebank
East Boston Sav1ngs
Bank
Enerbank USA
Exchange Ba nk
F armers&Merchants
BK NEB
F~rst Ba nk of
Highland
F1rst Commerc1a l
Bank MS
F1rst Fin ancial Bank
F~rst Federal SVGS
Ba nk
F 1rst Internet Ba nk of
In
First Na tional Ba nk
of Amenca
Flagstar Bank
Goldman Sachs
Bank USA
Henry County Bank
OH
lndustnai&Com Ba nk
Ch1na
LCA Ban k Corp
Lakes 1de Bank
CITY OF RA NC HO PALOS VERDES
MO NTHLY INVESTME NT REPORT
JU NE 2020
CUSIP#
01748 DAY2
02007G KW2
024373A25
02587C HR 4
02587D N38
05465 DAK4
05580AS E5
05581W5Q4
061785EG2
062163BN 9
06610RAT6
066851WV4
06740KKD8
072727 AZ3
08173QBT2
12325EHV7
12556LBB1
14042RDA6
14042TBD8
149159NX 9
1511 8RUX3
20415QGX1
211163GYO
22766ABB O
27002YET9
27113P BM 2
29266 N6P7
301074D F4
30781TB D9
319141G E1
31984GFA2
32021 MFC8
32031YCD4
32056GCQ1
32110Y JT3
33847 E2J5
38149MAU7
426336 BF 9
45581 EAF8
801798L K6
51210S MD6
Acquisition
Date
N/A
212312020
212312020
11/3/2017
7/25/2019
9/27/2019
12/19/2017
3/21/2017
312612020
8/16/2019
212812020
9/25/2019
12/28/2019
12/20/2017
6/28/2019
7/12/2017
1/24/2020
10/7/2016
7/19/20 17
8/23/2019
10/13/2016
7/2 4/2019
9/25/2019
4/17/2020
7/26/2019
2/23/2018
6/9/2017
1/17/2020
1120/2017
10/13/2017
7/19/2019
1/18/2017
617/2017
7/31/20 19
2/21/201 8
1/17/2018
7/14/2017
1/20/2017
6/12/2019
5/31/2019
1/27/2017
6/2/2017
1/12/2018
1/13/2017
Term
N/A
24 Mos
24 Mos
60 Mas
36 Mas
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 Mas
48 Mos
36 Mos
24 Mos
60 Mos
18 Mas
36 Mos
60 Mos
36 Mos
60 Mos
48 Mos
24 Mos
60 Mos
60 Mos
24 Mos
48 Mos
37 Mos
60 Mas
60 Mos
36 Mos
36 Mos
60 Mos
60 Mos
60 Mos
54 Mos
Maturity
Da te
On Demand
2/21/2022
2/2112022
11/3/2022
712512022
912712022
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
1017/2020
7/19/2022
2/23/2022
10/13/2020
712512022
9/24/2021
4/17/2025
1/26/2021
8/23/2021
61912022
1/17/2023
1/20/2022
10/13/2021
7/19/2021
1/18/2022
6/7/2022
7/30/2021
212212022
2/17/2021
7/1 4/2022
1/20/2022
6/13/2022
5/31/2022
1/27/2022
61212022
1/12/2023
7/13/2021
Market
Value
$ 35 ,941 947
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250 000
3 974 963
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
$ 35 ,941 ,947 1 22%
$ 250 ,000 1 50%
$ 3,974 ,963 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 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(V1n1ng Sp ark s)
S ummary
Local Age ncy Inv es tment Fund (LAIF-CITY )
Certifi cate of Depos1t -Ma laga Ba nk
Cert ificate of Deposit -Ma laga Ba nk
Certificate of Deposit -V1n1ng Sparks
Treas ury Bill s -Vimng Sparks
Tot al Inve stm ent
Iss ue r of
In ve stment
Landmark
Community Bank
Lrve Oak Bankrng
Company
Luana Savr ngs Bank
Malaga Ba nk FS B
M arlin Busrn ess
Bank
Medallion Ba nk Utah
Me rcantil Ba nk NA
Merrrck Ba nk
M id-Mrssouri Bank
Morgan Stan ley
Bank NA
Morgan Stanley PVT
Ba nk
M orton Communrty
Northfiled Ba nk
Pe opl es Umt ed Ba nk
Ra ymond James
Ba nk
Sall1 e Ma e Ba nk/S alt
Lake
S1 gnature Ba nk of
Ark an sa s
S1gnature Bk
Ch1cago
Southern States
Bank
St ate Ba nk of India
St erling Ba nk POP
BL MO
Summit Community
Ba nk
Suntrust Ba nk
Synchrony Bank
Third Fed Sa v&L n
Clevl and
Vr sion Ban k of Iowa
W ell esley Bank
W ell s Fargo Na t' I
Ba nk W est
W ells Fa rgo Bank
United States Trea s
Unit ed Stales Tre as
Un1 ted States Treas
Un1t ed States Trea s
35 ,94 1,946 79
250 ,000 00
3,97 4,963 35
17 ,500 ,000 00
4,000 ,000 00
61 ,666 ,9101 4
CITY OF RA NCHO PALOS VERDES
MON T HL Y TREASURER 'S REPORT
J UNE 2020
CUS IP#
51507LBV5
538036CG7
549103WGO
56102AAJ5
57116ATMO
58404 DFE 6
58733AES 4
59013JC23
5954 1 KBP 1
61747 MD73
61760AZ51
619165HP 1
66612AB X5
71270 QQJ8
75472 RAN 1
7954504P 7
82669LG D9
82669VBY6
843879BB 2
856285 RS 2
85916VDN 2
86604 XML 7
86789VUP O
87165 HR Y8
88413Q BU 1
92 834CC L4
94948L CRO
949495AQ8
949763D45
9128282J8
912828S35
912828S 76
912828XM 7
Ac q ui s iti on
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
1/26/201 8
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
7/31/201 8
Te rm
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
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
24 Mas
Maturit y
Da te
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
12/21/2020
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
7/31/2020
T ot al Inve stment
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Ma rket
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
1 000,000
1,000,000
1,000,000
1,000 ,000
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Boo k
Value Yield
250,000 1 90%
250 ,000 1 25%
250,000 1 15%
250,000 0 70%
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 ,000 113%
$ 1,000 ,000 1 63%
$ 61 ,666 ,910
We1ght ed Re turn 1 45%
A-4
NOTE :
M ala ga Bank-CD
6%
CITY OF RANCHO PA LOS VERDES
MONTHLY TREASURER'S REPOR T
JU NE 202 0
SUMMARY OF CASH BALANCE BY INSTITUTION
JUNE 2020
Bank of the West
5%
Vining Sparks-Money Market
2%
State of Ca l ifornia-LA IF
54 %
(1 ) LAIF market values w1ll be reported to vary from book value 1f the C1ty calculated share of total LAIF assets 1s less than the C1ty book value
To the best of my knowledge there are no m1sstatements of matena l amounts w1th1n th1s report
or om iSSIOns of matena l amounts to cause the report to be mtsleadtng
I cert1fy that th1s report accurately reflects all C1ty Investments and complies w1th the Investment pol1cy of the C1ty
of Rancho Palos Verdes as approved by the C1ty Council Furthermore , I cert1fy that suffiCient Investment liqu1d1ty
and ant1c1pated revenues are ava1lable to meet the C1ty 's expenditure requtrements for the next SIX months
Respectfully submitted
'"~~ 11mw
A-5