CC SR 20201104 E - September Treasurer Report
CITY COUNCIL MEETING DATE: 11/04/2020
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the September 2020 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the September 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
September 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 $61,863,699, with more than $34 million or
55% 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 7% with Malaga Bank. In addition, the City has Certificates of
Deposit (CD) investments at $17.25 million or 28%, Treasury Bills at $3 million or 5% of
the total cash balance, and a money market account of over $72,000 or less than 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
securities are held by the Bank of New York and are FDIC-insured.
1
In summary, the City’s General Fund has over $19.3 million or 32% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has $26 million or 42% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.6 million or 4%, over $1.4 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
$10.5 million or 17% in Other Restricted Funds.
The City’s cash balance decreased by $0.6 million from last month. In comparison to
the September balance of last year, the cash balance in this month decreased by
$185,000, 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 Boulevard Median Beautification Project, Stay
Green for citywide landscaping maintenance, and the Los Angeles County Sheriff’s
Department for law enforcement services. All expenditures were disbursed in
accordance with the Fiscal Year 2020-2021 budget.
2
BEGINNING BALAN CE
PLUS: DEPOSITS
PLUS : INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS : ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS : TRANSFERS IN
LESS : TRANS FER S OUT
ENDING BALANC E
(1) A ll LA IF interest is paid quarterly.
(2) Electron ic Disbursements:
Payro ll
Pa yroll Charges
Ba nk and Merchant Fees
Bank of the West
Operat ing
3 ,622 ,799.47
1,926 ,883.48
(2 ,023 ,278.46)
(571 ,968 .25 )
(2 ,682.84 )
300,000.00
3,251 '753.40
341 ,590.61
220,778.24
9 ,599.40
571 ,968 .25
(3) The net adjustment was due to void checks and deposit adjustment.
CITY OF RANCHO PALOS VERDES
MONTHLY TREASUR ER'S REPORT
SEPTEMBER 2020
Malaga Bank
Non-Negotiable
Petty Cash LAIF-CITY CD
5 ,000 .00 34 ,059,6 19.46 4,224 ,963.35
5 ,000 .00 34 ,059,619.46 4,224 ,963 .35
Vining Sparks Vining Sparks YTDint
Money Market Investment Total Cash Rece ived
851 ,170.15 19,750,000.00 62 ,513,552.43
1,926,883.48
(2 ,023,278.46)
(571 ,968.25)
(478 ,807 .31) 500,000.00 18,509.85
300,000.00
(300 ,000.00) (300,000.00)
72 ,362 .84 20,250,000.00 61 ,863,699.05
SEPTEMBER 2020 CASH BALANCE BY MAJOR FUNDS
1%
.GENERAL FUND 32%
.EQUIPMENT REPLACEMENT 4%
1911 ACT 2%
C HABITAT RESTORATION 1%
C QUIMBY 2%
D OTHER RESTRICTED FUNDS 17%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by_ Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEF ITS
Subtotal
Restricted by La w 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 MA INTENANCE
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
BI KE WAYS
UNDERGROUND UTILITIES
ROADWAY BEAU TIFICATION
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
20,223,537 .05
0 .00
25,233 ,303 .79
2 ,614 ,548 .08
0 .00
0.00
27 ,847 ,851 .87
1,350 ,568 .23
28 ,884 .78
36 ,331 .25
26 ,017 .72
0.00
1,448 ,560 .06
439 ,360 .83
152,761 .74
721 ,017 .23
2 ,17 3 ,243.41
76 ,419 .91
1,347,740 .06
193 ,399 .26
769 ,273 .14
769,447 .08
61 ,283 .60
258 ,727 .31
0 .00
0.00
783 ,453 .80
98 ,314 .23
(6 ,459 .57)
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
1,018 ,034 .55
14 ,442 ,163.51
62 ,513 ,552 .43
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2020
DEBIT CREDIT CASH
3,430 ,519 .40 4 ,289 ,965 .10 19 ,364 ,091 .35
0.00 0 .00 0 .00
760 ,567 .19 12 ,212 .58 25 ,981 ,658.40
23 ,400 .00 6,451 .90 2,631 ,496 .18
0.00 0 .00 0.00
0.00 0 .00 0 .00
783,967 .19 18,664 .48 28 ,613 ,154.58
233,774 .21 478 ,757 .07 1 '105 ,585 .37
0.00 0 .00 28 ,884 .78
0.00 0 .00 36 ,331 .25
0.00 1,897 .50 24 ,120 .22
0.00 0 .00 0 .00
0.00 43 ,167.54 1,405 ,392 .52
34 ,907 .20 22 ,679 .81 451,588 .22
0.00 0.00 152,761 .74
61 ,885.49 28 ,142 .20 754 ,760 .52
74 ,608 .07 27 ,695 .95 2 ,220 ,155 .53
0.00 32 ,500 .00 43 ,919 .91
46 ,361 .36 244 .50 1,393 ,856 .92
54 ,956 .56 6 ,662.41 241 ,693.41
0 .00 0.00 769 ,273 .14
2,684.47 25 .73 772 ,105 .82
0 .00 25 ,000 .00 36 ,283 .60
0 .00 13 ,175.60 245 ,551 .71
0 .00 0 .00 0.00
0 .00 0 .00 0.00
0 .00 0 .00 783 ,453 .80
0.00 98 ,314 .23 0.00
17 ,123 .01 10 ,663 .44 0.00
0.00 0 .00 1,202 ,021 .88
28,623 .60 0.00 222 ,220 .89
0.00 0 .00 856 ,127 .34
99 ,085 .99 15 ,487 .15 331 ,328 .20
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
0.00 193 ,117.00 3,192 .02
0.00 0.00 0 .00
21 ,675 .50 233 ,865 .72 805 ,844 .33
675 ,685.46 1,231 ,395 .85 13 ,886 ,453 .12
4 ,890 ,172.05 5,540 ,025 .43 61 ,863 ,699 .05
Total Investmen t: 61 ,863 ,699 .05
Change In
Ending Cash
Balance
(85 9,445 .70)
0 00
748 ,354 .61
16 ,948 .10
0 .00
0.00
765 ,302 .71
(244 ,982 .86)
0 .00
0 .00
(1 ,897.5 0)
0 .00
(43 , 167 .54)
12 ,227 .39
0 .00
33 ,743 .29
46 ,912 .12
(32 ,500 .00)
46 ,116 .86
48 ,294 .15
0 .00
2 ,658 .74
(25 ,000 .00)
(13 , 175 .60)
0.00
0.00
0.00
(98 ,314 .23)
6 ,459 .57
0.00
28 ,623 .60
0.00
83 ,598 .84
0 .00
0.00
0 .00
0.00
0.00
(19 3, 117.00
0 .00
(212 ,190 .22)
(555, 710 .39
(649 ,853 .38
Change In
Ending Cash
Balance in %
-4%
0%
3%
1%
0%
0%
3%
-18%
0%
0%
-7%
0%
-3%
3%
0%
5%
2%
-43%
3%
25 %
0%
0%
-41 %
-5%
0%
0%
0%
-100%
-100%
0%
15%
0%
34 %
0%
0%
0%
0%
0%
-98%
0%
-21 %
-4%
-1%
A-2
Investment
Local Agen cy lnvestmenl Fund (LAIF-C ITY)
Note (1)
CD -Non-Negol iable
CD-Non-Negotiable
CD -Ban k of New York -Vining Sparks (Non -
Negotiable)
Issuer of
Investment
State of Cal ifornia
Malaga Ba nk
Ma laga Bank
All egi ance Bank
Texas
Ally Ba nk
American Bank Na
Le Ma rs
Am erican Express
Bank FS B
American Express
Centurion
AXOS Bank
BMW Bank North
Amer ica
Babin
Bank of Deerfield
Ba nk Forward
Bankers Bank
Mad ison WI
Bar Harbor Ba nk &
Trust
Barcl ays Bank
Delaware
Ba ycoast Ba nk
Benefici al Bank
Busi ness Bk of St.
Lou is
CIT Ban k
Capital One NA
Capital One Bank
USA
Cathy Bank
Cel tic Ba nk
Community Wesl
Ba nk
Continental Bank UT
Crossfirst Bank
Ea glebank
Eas t Boston Sa vings
Ba nk
Enerba nk USA
Exchange Bank
F armers&Merchants
BK NEB
First Bank of
Highland
Fir st Commercial
Bank MS
First Financial Ba nk
First Federal SVGS
Bank
First Internet Bank of
In
Fir sl Na tion al Bank
of Ame rica
Flagstar Bank
Goldman Sachs
Ba nk USA
Henry Co unty Bank
OH
lndustriai&Com Ba nk
China
JP Morgan Chase
Ba nk
LCA Ba nk Corp
Lakeside Bank
Landmark
Community Ba nk
Ma laga Ba nk FSB
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
SEPTEMBER 2020
CUSIPI
01748 DAY 2
02007GKW2
024373AZ 5
02587C HR4
02587D N38
05465DAK4
05580ASE 5
06063HMT7
061785EG 2
062163 BN 9
066 10RAT6
066851 WV4
06740KKD8
072727AZ3
08173 QBT2
12325EHV7
12556LBB 1
14042RDA6
14042TBD8
149159NX 9
15118RUX 3
20415QGX1
211163GYO
22766ABBO
27002YET9
27113PBM 2
29266 N6P 7
301074DF4
307 81TBD9
319141GE1
31984GFA2
32021 MFC8
32031YC D4
32056GCQ1
32110YJT3
33847 E2J5
38149 MAU 7
426336 BF 9
45581EAF8
48128UMX4
801798L K6
51210S MD6
51507 LBV5
56102AAJ 5
Acquisition
Date
N/A
2123/2020
2/23/2020
11/3/2017
7/25/20 19
9/27/20 19
12/19/2017
3/21/2017
3126/2 020
8116/2019
7/22/2020
9/25/20 19
12/28/2019
12/20/2017
6/28/2019
7/12/2017
1/24/2020
10f7/2016
7/19/20 17
8/23/20 19
10/13/2016
7/24/20 19
9/25/2019
4/17/2020
7/26/2019
2/2312018
6/9/2017
1/17/2020
1/20/2017
10/13/2017
7/19/20 19
1/18/2017
6f7/2017
7/31/2019
2/21/2018
1/17/2018
7/14/2017
1/20/2017
6/12/2019
5/31/2019
1/27/2017
6/212017
9/30/2020
1/1212018
1113/2017
8/23/2019
5/29/2020
Term
N/A
24 Mos
24 Mos
60 Mos
36 Mos
36Mos
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
60 Mos
18 Mos
36 Mos
60 Mos
36 Mos
60 Mos
48 Mos
24 Mos
60Mos
60 Mos
24 Mos
48 Mos
37 Mos
60 Mos
60Mos
36 Mos
36 Mos
60 Mos
60 Mos
60 Mos
60 Mos
54 Mos
36 Mos
60 Mos
Maturity
Date
On Demand
2/21/2022
2121/2022
11/3/2022
7125/2022
9/27/2022
12120/2021
4/5/2022
3/26/2024
2/16/2021
7122/2025
3/24/2023
12/1812024
12120/2021
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
4/17/2025
1/26/2021
8/23/2021
6/9/2022
1/17/2023
1/20/2022
10/1312021
7/19/2021
1/18/2022
617/2022
7130/2021
2122/2022
2/17/2021
7/14/2022
1/20/2022
6/13/2022
5131/2022
1/27/2022
612/2022
9130/2025
1/12/2023
7/13/2021
2/23/2022
5/29/2025
Market
Va lue
$ 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
250 ,000
Book
Value Yie ld
$ 34 ,059 ,619 0 .69%
$ 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 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%
$ 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 0.30%
$ 250 ,000 2.35%
$ 250 ,000 1.95%
$ 250 ,000 1.90%
$ 250 ,000 0. 70%
A-3
Investment
T re asury-Bank of New Yo rk(Vining Sparks)
Summary:
Loca l Agency In vestment Fund (LAIF-CITY )
Certificate of Deposit -Ma laga Bank
Certificate of Deposit -Malaga Ba nk
Cert ificate of Deposit -Vining Sparks
Treasury Bills-Vi ning Spa rks
Total Investment
Issuer of
Investment
Ma rlin Business
Ba nk
Meda lli on Bank Utah
Me rcantil Ba nk NA
Merrick Ba nk
Mid -Mis souri Ban k
Morgan Stan ley
Ba nk NA
Morgan Stanley PVT
Ba nk
Morton Commun ity
Northfi led Bank
Pe oples Un ited Ba nk
Preferred Ba nk LA
Raymond James
Ban k
Sallie Mae Bank/Salt
La ke
Signature Bk
Chicago
Southern States
Ba nk
State Ban k of India
State Bank of Chillon
Sterling Bank POP
BLMO
Summit Community
Bank
Synchrony Bank
Third Fe d Sa v&Ln
Clevland
Vision Bank of Iowa
Wellesley Ba nk
Wells Fargo Nat' I
Bank West
Wells Fargo Ban k
Un ited States Treas
Un ited States Treas
Un ited States Treas
34 ,059,619.46
250,000.00
3,974 ,963 .35
17 ,250 ,000.00
3,000 ,000.00
58 ,534 ,582 .81
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2020
CUSIPI
57116ATMO
58404 DFE6
58733AES 4
59013JC23
59541KBP 1
61747 MD 73
61760AZ51
619165HP 1
66612ABX5
71270QQJ8
740367 MA2
75472 RAN 1
7954504 P7
82669VBY6
843879 BB 2
856285 RS2
85641 PDV9
85916VD N2
86604XML7
87165HRY8
88413QB U1
92834CCL4
94948LCRO
949495AQ8
949763D45
912828S35
912828S76
912828XZ8
Acquisition
Date
1/15/2020
9/18/2019
12/29/2017
10/11 /20 17
1/19/2018
12/21 /2017
9/19/2019
1/19/2018
10/25/2017
1/18/2017
7/17/2020
11/26/2019
11/16/2019
1118/201 7
12/20/2017
11/27/20 19
9/11/2020
9/18/2019
1/26/2018
61212017
11/24/2017
11/29/2019
7/19/20 19
1/17/2020
6110/2019
9/12/2019
7/31/20 18
6/30/2020
Term
60 Mos
36 Mos
36 Mos
60 Mos
60 Mos
36 Mos
48 Mos
36 Mos
60 Mos
60 Mos
60 Mos
72 Mos
60 Mos
60 Mos
40 Mos
72 Mos
60 Mos
48 Mos
30 Mos
60 Mos
48 Mos
72 Mos
18 Mos
36 Mos
36 Mos
45 Mos
36 Mos
60 Mos
Maturity
Date
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
7/17/2025
11/2612024
10/16/2024
11/8/2022
4/20/2021
11/27/2024
9/11/2025
9/18/2023
7/26/2021
612/2022
11/24/2021
11/29/2024
1/19/2021
1/17/2023
6/10/2022
6130/2023
7/31/2021
6130/2025
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
1,000 ,000
1,000 ,000
1,000 ,000
Book
Value Yield
$ 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 0.50%
$ 250,000 1.85%
$ 250 ,000 1.90%
$ 250,000 2.15%
$ 250,000 2.00%
$ 250,000 2 .05%
$ 250,000 0.50%
$ 250,000 1.65%
$ 250,000 2.20%
$ 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 1.38%
$ 1,000 ,000 1.13%
$ 1,000 ,000 2.75%
$ 58,534 ,583
Weighted Ret urn 1.15%
A-4
NOTE :
Mala ga Bank -CD
7%
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2020
SUMMARY OF CASH BALANCE BY INSTITUTION
SEPTEMBER 2020
Vining Sparks-Treasury
5%
Bank of the West
5%
Vining Sparks-Money Market
0%
State of California-LAIF
55%
(1) LAIF market values will be reported to vary from book value if the City ca lculated share of total LAIF assets is less than the City book value.
To the best of my knowledge , there are no misstatements of material amoun ts within th is repcrt;
or omissions of mate ri al amounts to cause the report to be mislead in g.
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 liqu idity
and ant icipated revenues are available to meet the City's expend iture requirements for the next six mon ths .
Respectfu ll y submitted ,
Tre~lLj ttV-
A-5