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CC SR 20201006 F - Aug Treasurer Report CITY COUNCIL MEETING DATE: 10/06/2020 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA TITLE: Consideration and possible action to receive and file the August 2020 Cash Balances/Monthly Treasurer’s Report. RECOMMENDED COUNCIL ACTION: (1) Receive and file the August 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 August 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 $62,513,552, with more than $34 million or 54% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has more than $3.6 million or 6% 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 Certificates of Deposit (CD) investments at $16.75 million or 27%, Treasury Bills at $3 million or 5% of the total cash balance, and a money market account of over $0.8 million or 1% with Vining Sparks, our investment brokerage firm. The City holds a money market account with Vining Sparks for the transaction of selling and purchase purposes. The cash balance in the Vining Sparks money market account at the end of August is reported at $0.8 million. This is due to three Certificates of Deposit matured in the month that are 1 waiting to be reinvest. The securities are held by the Bank of New York and are FDIC- insured. In summary, the City’s General Fund has over $20.2 million or 32% in the cash balance, and the Capital Improvement Projects (CIP) Fund has over $25.2 million or 41% in cash balance. The remaining cash balances are in the Equipment Replacement Fund with over $2.6 million or 4%, over $1.5 million or 2% in the 1911 Act Fund, $0.8 million or 1% in the Habitat Restoration Fund, over $1.2 million or 2% in the Quimby Fund, and over $11 million or 18% in Other Restricted Funds. The City’s cash balance decreased by $0.4 million from last month. In comparison to the August balance of last year, the cash balance in this month increased by $0.8 million, mainly attributed to the timing of disbursements for City-approved projects. The major disbursements for this month included Aleshire & Wynder for legal services, Marina Landscape for the Hawthorne Median Beautification Project, Hardy & Harper for the Portuguese Bend Landslide Repair Project, and California Joint Powers Insurance Authority for annual property insurance. All other expenditures were disbursed in accordance with both Fiscal Year 2019-20 and 2020-2021 budgets. 2 A-1 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 Bank and Merchant Fees Bank of 1M West Operating 3,080,346.11 1,647,241 .72 ( 1 ,676,832 1 0) (643,394.23) 15,437.97 1,000,000.00 3,622,799.47 368,554.78 239,504.97 35,334.48 643,394.23 (3) The net adjustment was due to void checks and deposrt adjustment. CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT AUG 2020 M•laga Bank Non.oNegotiable Vining Spal1ta PottyC.uh LAIF-CITY CD MOM)' M.,tc.et 5,000.00 34 .059,619.46 4,224 ,963.35 1.075,766.20 (224,596.05) 5,000.00 34,059,619.46 4 ,224,963.35 851,17015 AUGUST 2020 CASH BALANCE BY MAJOR FUNDS 1% Vining Sporl<o YTDint ln-trnent Toto! Caoh Received 20,500.000.00 62,945,695.12 1,647,241 .72 (1.676,832.10) (643,394.23) (750,000.00) (959, 158.08) 1,000,000.00 19,750,000.00 62,513,552.43 .GENERAL FUND 32% .EQUIPMENT REPLACEMENT 4% .1911 ACT 2% C HABITAT RESTORATION 1% .QUIMBY2% .OTHER RESTRICTED FUNDS 18% A-2 CASH BALANCES BY FUND Unrestricted GBfERAL FUND Restricted by Council Action BEAUTIFICATION FUND CIP EQUIPMENT REPLACEMENT BUILDING REPLACEMENT EMPLOYEE BENEFITS l;iubloUII Restricted by Law or External Agencies STREET MAINTENANCE 1972 ACT 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 SubiiMI l~_Tt)TA\. BALANCE FORWARD 19,976 663.60 0 .00 25.306,636 .59 2,614,548.08 0.00 0.00 27,921,184.67 1,776,558.74 28,884 .78 36 .212 .39 23,369 .82 0 .00 1,458,509.90 448,270.08 139,441 .89 985,009 .74 2,116,730.77 76,419.91 1,316,526.58 154,130.90 815,498.14 771 ,232.41 61.283 .60 261 ,274 .23 0 .00 0 .00 781,953 .80 98,314.23 0 .00 1,202.021 .88 193,597 .29 856,127.34 247 ,729 .36 0 .00 0 .00 0 .00 0 .00 0 .00 196,309 .02 0.00 1,002,440.05 15,047 846..86 62,945 695.12 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT AUGUST 2020 DEBIT CREDIT CASH 4 364,331 .35 4 ,1 17,457.90 20,223,537.05 0.00 0.00 0 00 0.00 73 ,332.80 25 ,233 ,303 .79 0.00 0.00 2,614.548 .08 0 .00 0.00 0.00 0.00 0 00 0.00 0.00 73,332.80 27,847 851 .87 59,490.44 485,480.95 1,350,568.23 0.00 0 .00 28 ,884 .78 118.86 0 .00 36 ,331.25 37,523.60 34 ,875.70 26,017.72 0.00 0.00 0.00 29,944.30 39,894.14 1,448,560.06 4 ,365.31 13 ,274 .56 439 ,360.83 13,319.85 0.00 152,761 .74 46,866.79 310 ,859 .30 721,017 .23 56,512.64 0 .00 2,173,243.41 0.00 0.00 76,419 .91 35,1 05.91 3 ,892.43 1.347 ,740.06 40,075.03 806.67 193,399.26 0.00 46 ,225 .00 769 ,273.14 0.00 1,785.33 769 ,447 .08 0.00 0 .00 61 .283 .60 595.85 3,142.77 258,727 .31 0.00 0.00 0.00 0.00 0 .00 0.00 1,500.00 0.00 783,453.80 0.00 0 .00 98 ,314.23 49,857.55 56 ,317.12 (6,4 59 .57 0.00 0 .00 1,202,021 .88 0.00 0 .00 193,597.29 0.00 0.00 856,127 .34 0.00 0 .00 247.729.36 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 0.00 000 000 196,309 .02 0.00 0 .00 0.00 46,213.50 30 ,619.00 1,018,034 .55 421,4119.113 1,027,172.97 14,442,163.51 4 ,7115,820.98 5 217,963.67 62,513,552.43 Total Investment: 62,513,552.43 Change In Ending Cash Balance 246,873.45 0 .00 (73,332.80) 0.00 0.00 0 .00 (73,332.80) (425,990 51 0.00 118.86 2,647 .90 000 (9,949 .84) (8.909 .25) 13.319.85 (263,992 .51) 56,512 .64 0.00 31 ,213.48 39.268 36 (46 ,225 .00 (1 ,785 .33) 0.00 (2,546.92) 0 .00 0.00 1,500 .00 0 .00 (6 ,459.57) 0 .00 0.00 0 .00 0 00 0 .00 0.00 0 .00 0 00 0 .00 0.00 0 .00 15,594 .50 (805,663.34 {432,142.69 Change In Ending Cash Ba lance in % 1% 0% 0% 0% 0% 0% 0% -24% 0% 0% 11 % 0% -1% -2% 10% -27 % 3% 0% 2% 25 % -6% 0% 0% -1% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 2% -4% -1% A-3 Investment Local Agency lnveslmenl Fund ILAIF -C ITY) Nole i1) CD -Non-Nego11able CD -Non-Negol1able CD-Bank of New York -V1n1ng Sparks (Non- Negollable) Issuer of Investment State of Cahforn1a Malaga Ba nk Malaga Bank Allegtance Bank Texa s Ally Bank Ame ncan Bank Na Le Mars Amen can Express Bank FSB Amertcan E xpress Centunon AXOS Bank BMW Bank Nonh Amer1ca Bobm Bank of Deerf1eld Bank Forward Bankers Bank Madtson WI Bar Harbor Bank & Trust Barclays Bank Delaware Baycoasl Bank Beneftcta l Bank Bus1ness Bk of Sl L OUIS CIT Bank Cap1la l One NA Capital One Ba nk USA Cathy Bank CeltiC Bank Commun1ty W est Bank Continental Bank UT Crossflfsl Bank Eaglebank Easl Boston Sav1ngs Bank Enerbank USA Exchange Ba nk Farmers&Merchants BK NEB Flfsl Bank of Highland Ftrst Commerctal Bank MS F1 rs t F 1nancial Bank Flfst Federal SVGS Bank Ftrst Internet Bank of In Flfst NatiOnal Bank of Amen ca Flag star Bank Goldman Sachs Bank USA Henry County Bank OH l ndustr~ai&Com Bank Ch1na LCA Bank Corp Lakes,de Bank Landmark Commun1ty Bank Mal aga Bank FSB CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT AUGUST 2020 CUSIP# 017 48DAY2 02007GKW2 024373AZ5 02587CHR4 02587DN38 05465DAK4 05580ASE5 06063HMT7 061 785EG2 0621 63BN9 0661 0RAT6 066851WV4 06740KKD8 072727AZ3 081 73QBT2 12325EHV7 12556LBB1 14042RDA6 14042TBD8 1491 59NX9 15118RUX3 204150GX1 211 163GYO 22766ABBO 27002YET9 27113PBM2 29266N6P7 301074DF4 30781TBD9 319 14 1GE1 31984GFA2 3202 1MF C8 32031YCD4 32056GC01 32 11 0YJT3 33847E2J5 38 149MAU 7 426336BF9 45581 EAF8 801798LK6 51210SMD6 5 1507 LBV 5 56102 AAJ 5 Acquisition Date N/A 2/23/2020 212312020 1113/2017 7/25/20 19 9/27/2019 12/19/2017 3/2 1/2017 3/26/2020 8/16/2019 712212020 9/25/2019 12/28/2019 12/20/2017 6128/201 9 711 2/2017 1/24/2020 10/7/2016 7119/201 7 8/23/2019 10/13/2016 7/24/2019 9/25/20 19 4/17/2020 7/26/2019 2/23/2018 6/9/2017 1/17/2020 1/20/2017 10/13/2017 711 9/2019 1118/2017 6/7120 17 713 1/2019 2/21/2018 1117120 18 711 4/2017 1/20/2017 6/12/2019 513 1/2019 1/27120 17 612 /2017 1/12/2018 1113/2017 8/23/2019 5/291202 0 Term NIA 2 4 Mos 24 Mos 60 Mos 36 Mas 36 Mas 48 Mos 60 Mos 48 Mas 18 Mos 60 Mos 42 Mos 60 Mos 48 Mos 24 Mas 60 Mas 48 Mos 60 Mas 30 Mas 48Mos 36 Mos 24 Mos 60 Mos 18 Mas 36 Mos 60 Mas 36 Mos 60 Mos 48 Mas 24 Mas 60 Mos 60 Mas 24 Mos 48 Mas 37 Mos 60 Mos 60 Mos 36 Mos 36 Mos 60 Mos 60 Mas 60 Mas 54 Mos 36 Mos 60 Mos Maturity Date On Demand 2/21/2022 2/21/2022 11 /312022 7125/2022 9/2712 022 12/2012021 4/5/2022 3/26/2024 2/16/202 1 712212025 3124/2023 12118/2024 12/20/2021 6128/2021 7112/2022 1/2412025 1017/2020 7119/2022 2/2312022 101 13/2020 7125/2022 912412021 4/1712025 1/26/2021 8123/2021 6/9/2022 1/17/2023 1/2012022 10/13/2021 7119/202 1 111812022 61712022 7/30/2021 2/22/2022 21 1712021 7/1 41202 2 1/20/2022 6/13/2022 513 1/2022 1/2712022 61212022 1112/2023 7113/2021 2123/2022 5/29/2025 Mark;et Value $ 34 059 619 $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 250 000 3 974 963 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250.000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 $ Book Value Yield 34 059 6 19 078% 250 000 1 50% $ 3 97 4 963 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 0 65% 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% 2 50 000 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% 250 000 1 90% 250 000 0 70% A-4 In vestment Treasury-Bank of New York(V1n1ng Sparks) Summary Local Agency Investment Fund (LAIF -CITY) Cert1f1cate of Depos11 -Malaga Bank Cert1f1cate of Deposit -Malaga Bank Cert 1f•cate of DeposJt -V1n1ng Sparks Trea sury B1lls -V1mng Sparks T a tal Inve stment Issuer of Investment Marl!n Bus1ness Bank Medall ton Bank Utah Mercant1l Ba nk NA Memck Ba nk Mtd-M tsso un Bank Morgan Stanley Bank NA Morgan Stanley PVT Bank Morton Commun1ty Northftl ed Bank Peoples Untied Bank Preferred Bank LA Raymond James Bank Sa lite M ae Bank/Salt Lake S1gnature Bk Ch1cago Sou thern Slates Bank Stale Bank of lnd1a Sterl tng Bank POP BL MO Summit Commumty Bank Synchrony Bank Thtrd Fed Sav&Ln C levland V1s1on Bank of Iowa Wellesley Ba nk Wells Fargo Nal'l Bank West Wells Fargo Bank Un1ted States Treas Un1ted Stat es Treas Un1ted States T reas 3~ 059.619 ~6 250,000 00 3 9 7 ~.963 35 16 750 000 00 3.000.000 00 58 03~ 582 81 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT AUGUST 2020 CUSIP# 511 16 ATMO 58~0~DFE6 58 7 33AES~ 59013JC2 3 595~1KBP1 617 ~7MD 73 61760AZ51 619165HP 1 66612ABX5 7 1270QQJ8 7 ~0367MA2 75~72RA N 1 795~50~P7 82669VBY6 8~3879 BB2 856285RS2 85916VDN2 8660~X ML 7 87165HRY8 88~13QB U 1 9283~CC L~ 9~9~8LCRO 9~9~95AQ8 9~97630~5 912828S35 912828S76 912828XZ8 Acquisition Date 1115/2020 9/18/2019 12/29/2017 10/1 112017 1/1912018 1212 112017 9/19120 19 111912018 1012512017 1/1812 017 711712020 1112612019 11116/2019 11/8/2017 12/20/2017 11 127/2 019 9/1 8/2019 1/26/2018 6/2/2017 1 1/2~/20 1 7 11/29/2019 7119/2 019 111 7/2020 611012019 9112/2019 7/31 /2018 6 130/2020 Term 60 Mos 36 Mos 36 Mos 60 Mos 60 Mos 36 Mos ~8 Mos 36 Mos 60 Mos 60 Mos 60 Mos 72 Mos 60 Mos 60 Mos ~o Mos 72 Mos ~8 Mos 30 Mos 60 Mos ~8 Mos 72 Mos 18 Mos 36 Mos 36 Mos ~5 Mos 36Mos 60 Mos Maturity Date 1!15/2025 9119/2022 12/29/2020 101 1112022 1/1912023 1212112020 911912023 1/19/2021 1012512022 111812022 7117/2025 111261202~ 10116/202~ 1118/2022 ~12012021 1112 71202 ~ 911812023 712612021 61212022 1112~/2021 11/291202 ~ 111912021 111712023 611012022 61301202 3 7131/2021 613012025 T ota l In vestment $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ Market Value 250 000 250 000 250 000 2 50 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 2 50 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 250 000 1 000 000 1 000 000 1 000 000 s $ $ s $ $ $ $ $ $ $ $ $ $ Book Value Yield 250 000 1 15% 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 0 50% 250.000 1 85% 250 000 1 90% 250000 215% 250 000 2 00% 250 000 2 05% 250 000 1 65% 250 000 2 20% 250.000 2 ~0% 250 000 2 10% 250.000 1 75% 250 .000 2 00% 250000 1 90% 250 000 2 50% 1 000 000 1 38% 1 000 000 1 13% $ 1.000 000 2 75% $ 58 03~ 583 We1ghted Return 1 22% A-5 Malag a Bank -CD 7% NOTE: CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT AUGUST 2020 SUMMARY OF CASH BALANCE BY INSTITUTION AUGUST 2020 Vining Sparks - Tr easury 5% Bank of the West 6% V i ning Spar ks-Money Market 1% State of California -LAI F 5 4% (1) LAIF market values will be reported to vary from book value if the C ity 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 Pal os Verdes as approved by the City Coundl. Furthermore, I certify that sufficient investment liquid ity and anticipated revenues are available to meet the City's expenditure requirements for the next six months. Respectfully submitted,