CC SR 20210119 D - November Treasurer Report-City
CITY COUNCIL MEETING DATE: 01/19/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the November 2020 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the November 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
November 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 $58,590,876, with $30 million or 51% of
the total cash balance in the Local Agency Investment Fund (LAIF). The City has $4.2
million or 7% 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 $17.5 million or 30%, Treasury Bills at $3 million or 5% of the total cash balance, and
a money market account of over $26,000 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 $17.6 million or 30% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has $25.8 million or 44% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.5 million or 5%, over $1.3 million or 2% in the 1911 Act Fund, over $0.7 million
or 1% in the Habitat Restoration Fund, over $1.2 million or 2% in the Quimby Fund, and
$10 million or 16% in Other Restricted Funds.
The City’s cash balance decreased by $0.8 million from last month. In comparison to
the November balance of 2019, the cash balance in this month decreased by $2.1
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 Boulevard Median Beautification Project, Stay
Green for citywide landscaping maintenance, Golden Gate Construction for the coastal
bluff fence project, Hardy and Harper for the roadway maintenance project, 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 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 the W.at
Open ling
2,594,141 .91
1 ,624,668.35
(1,m,623.95)
(603,062.63)
(433.00)
2,500,000.00
(150,000.00)
4,167,670.68
358,580.90
233,990.67
10,511 .06
603,062.63
(3) Tha net adjustmant was due to petty cash tnsnsaction.
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2020
Malaga Bank
Non-Nagotlable Vining Sparb
PMtycaah LAJF.CITY CD MoneyMariiM
5 ,000.00 32,133,008.68 4 ,238,913.17 97,768.05
(71 ,684.68)
(2,500,000.00)
5,000.00 29,633,008.68 4,238,913.17 26,083.17
NOVEMBER 2020 CASH BALANCE BY MAJOR FUNDS
1%
Vining Sparb Y11llnt
In-T-C&all -20,250,000.00 59,316,831 .61
1 ,624,668.35
(1 ,m,623.95)
(603,062.63)
(72, 117.66)
250,000.00 2, 750,000.00
(2,650,000 00)
20,500,000.00 58,590,675.70
.GENERAL FUND 30%
.EQUIPMENT REPLACEMENT 5%
.1911 ACT 2%
E:IHABITAT RESTORATION 1%
.QUIMBY2%
.OTHER RESTRICTED FUNDS 16%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
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 LI EU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICAT ION
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
17,898,451 .50
0 .00
25 ,931 ,003 .72
2 ,574 ,763 .12
0 .00
0 .00
28 ,505,766.84
756,743.50
28,925.61
36 ,382 .56
17 ,613 .56
0 .00
1,385 ,890 .55
443 ,575 .56
143,861 .43
821,324.81
1,513 ,455 .07
121,408 .89
1 ,423 ,1 52 .22
235,193.12
770,382.51
765,907.70
36,358 .46
240,711 .07
0 .00
0 .00
784 ,195.41
0.00
0 .00
1 ,203, 721 .28
222 ,535 .06
857 ,337 .72
307 ,173 .23
0 .00
0 .00
0.00
0 .00
0 .00
2 ,921 .65
0 .00
795 ,842 .50
12,914,613.47
59,318,831.81
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2020
DEBIT CREDIT CASH
5 ,373,272.05 5,653,849 .49 17,617,874.06
0.00 0.00 0.00
0.00 92 ,207 .74 25 ,838 ,795 .98
0.00 1,439.88 2,573 ,323 .24
0 .00 0.00 0 .00
0.00 0.00 0 .00
0 .00 93,647.62 28 ,412 ,119.22
67,582.01 475,700 .41 348 ,625 .10
0 .00 0.00 28 ,925 .61
54 .17 0.00 36 ,436 .73
7 ,985 .00 0.00 25 ,598 .56
0 .00 0.00 0 .00
14,296 .69 20,385 .85 1,379 ,801 .39
4 ,443 .69 14,432.90 433 ,586 .3 5
0 .00 4,620 .00 139,241 .43
50 ,113 .92 0.00 871,438 .73
60,416 .46 15 ,107 .65 1,558 ,763.88
29,476.10 0 .00 150,884.99
0 .00 0.00 1 ,423 ,1 52 .22
0 .00 30 ,768 .20 204,424 .92
0 .00 0.00 770 ,382.51
0 .00 3 ,7 84 .31 762,123 .39
0 .00 0.00 36 ,358 .46
156.01 12,988.56 227,878 .52
0.00 0.00 0 .00
0.00 0 .00 0 .00
0.00 0.00 784 ,195 .41
0.00 0.00 0 .00
24,655 .61 24,655 .61 0 .00
0.00 0.00 1 ,203 , 721.28
0.00 0 .00 222 ,535 .06
0.00 0 .00 857 ,337 .72
3,003 .00 12,485 .00 297,691.23
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
0.00 0 .00 2,921.65
0 .00 0 .00 0 .00
15 ,916 .82 16,902.04 794 ,857 .28
278,099.48 631,830.53 12,560,882.42
5,651,371 .53 6,379,327.64 58 ,590 ,875.70
Total Investment: 58 ,590 ,875 .70
Change In
Ending Cash
Balance
(280,5n.44
0.00
(92,207.74
(1,439 .88
0.00
0 .00
(93,647.62
(408, 118.40
0 .00
54 .17
7,985 .00
0.00
(6 ,089 .16
(9 ,989 .21
(4,620.00
50,113 .9 2
45,308.81
29,476.10
0 .00
(30,768.20
0.00
(3,784.31
0 .00
(12,832.55
0.00
0.00
0.00
0.00
0.00
0 .00
0.00
0.00
(9 ,482 .00
0 .00
0.00
0.00
0.00
0.00
0 .00
0 .00
(985 .22
(353 ,731 .05
(727,956.11
Change In
Ending Cash
Balance in%
-2%
0%
0%
0%
0%
0%
0%
-54%
0%
0%
45%
0%
0%
-2%
-3%
6%
3%
24%
0%
-13%
0%
0%
0%
-5%
0%
0%
0%
0%
0%
0%
0%
0%
-3%
0%
0%
0%
0%
0%
0%
0%
0%
-3%
-1%
A-2
Investment
Local Agency Investment Fund (LAIF-CITY)
Note (1)
CD -Non-Negotiable
CD -Non-Negotiable
CD -Bank of New Vorl< -Vining Sparks (Non-
Negotiable)
luuerof
Investment
State of California
Malaga Bank
Malaga Bank
Allegiance Bank
Texas
Ally Bank
American Bank Na
Le Mars
American Express
Bank FSB
American Express
Centurion
AXOS Bank
BMW Bank North
America
Babin
Bank of Deerfield
Bank Forward
Bankers Bank
Madison WI
Bar Harbor Bank &
Trust
Barclays Bank
Delaware
Baycoast Bank
Business Bk of St.
Louis
CIT Bank
Capital One Bank
USA
Cathy Bank
Callie Bank
Community West
Bank
Continental Bank UT
Crossfirst Bank
Eaglebank
East Boston Savings
Bank
Enerbank USA
Exchange Bank
Farmers&Merchants
BKNEB
First Bank of
Highland
First Commercial
Bank MS
First Financial Bank
First Federal SVGS
Bank
First Internet Bank of
In
First National Bank
of America
Flagstar Bank
Goldman Sachs
Bank USA
Henry County Bank
OH
lndustriai&Com Bank
China
JP Morgan Chase
Bank
LCA Bank Corp
lakeside Bank
landmarl<
Community Bank
MAGBNC
Malaga Bank FSB
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
NOVEMBER 2020
CUSIPt
017480AY2
02007GKW2
024373AZ5
02587CHR4
025870N38
05465DAK4
05580ASE5
06063HMT7
061785EG2
062163BN9
06610RAT6
066851WV4
06740KK08
072727AZ3
12325EHV7
12556LBB1
14042TB08
149159NX9
15118RUX3
20415QGX1
211163GYO
22766ABBO
27002YET9
27113PBM2
29266N6P7
301074DF4
30781TBD9
319141GE1
31984GFA2
32021MFC8
32031YCD4
32056GCQ1
32110YJT3
33847E2J5
38149MAU7
426336BF9
45581EAF8
481 28UMX4
801798LK6
51210SMD6
51507LBV5
559582Al5
56102AAJ5
Acquisition
Date
N/A
2/23/2020
2/23/2020
1113/2017
7/25/2019
9/27/2019
12/19/2017
3/21/2017
3/26/2020
8/16/2019
7/22/2020
9/25/2019
12/28/2019
12/20/2017
6/2812019
7/12/2017
1/24/2020
7/19/2017
8/23/2019
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
1118/2017
6f7/2017
7/31/2019
2/21/2018
1/17/2018
7/14/2017
1/20/2017
6/1 2/2019
5/31/2019
1/27/2017
6/2/2017
9/30/2020
1/12/2018
1/13/2017
8/23/2019
10/30/2020
5/29/2020
Tenn
N/A
24 Mas
24 Mas
60 Mas
36Mos
36 Mas
48 Mas
60 Mas
48 Mas
18 Mas
60 Mas
42 Mas
60 Mas
48 Mas
24 Mas
60 Mas
60 Mas
60 Mas
30Mos
36 Mas
24 Mas
60 Mas
18 Mas
36 Mas
60Mos
36 Mas
60 Mas
48 Mas
24 Mas
60Mos
60 Mas
24 Mas
48 Mas
37 Mas
60 Mas
60 Mas
36 Mas
36 Mas
60 Mas
60 Mas
60 Mas
60 Mas
54 Mas
36 Mas
54 Mas
60 Mas
Maturity
Date
On Demand
2/2112022
2/21/2022
1113/2022
7/25/2022
9/27/2022
12/20/2021
4/5/2022
3126/2024
2/16/2021
7/22/2025
3/24/2023
12/1812024
12/20/2021
6/2812021
7/12/2022
1/24/2025
7/19/2022
2/23/2022
7/25/2022
9/24/2021
4/17/2025
1/26/2021
8123/2021
6/9/2022
1117/2023
1/20/2022
10/13/2021
7/19/2021
1/18/2022
617/2022
7/30/2021
2/22/2022
2/17/2021
7/14/2022
1/20/2022
6/13/2022
5/31/2022
1/27/2022
6/2/2022
9130/2025
111 2 /2023
7/13/2021
2/23/2 022
4/30/2025
5/29/2025
Mertcet
Velue
$ 29,633,009
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
250,000
3,988,913
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
$ 29,633,009 0.58'A>
$ 250,000 1.50%
$ 3,988,913 1 40"A>
$ 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'A>
$ 250,000 1.65'A>
$ 250,000 1 75'A>
$ 250,000 2.15'A>
$ 250,000 210%
$ 250,000 2.20%
$ 250,000 1.70%
$ 250,000 2 05%
$ 250,000 1. 95'A>
$ 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 OO'A>
$ 250,000 2.00%
$ 250,000 2 05'A>
$ 250.000 2 05'A>
$ 250 ,000 210%
$ 250,000 1.95'A>
$ 250,000 2.45'A>
$ 250,000 2.15'A>
$ 250,000 2.05%
$ 250,000 2.00'A>
$ 250,000 2. 50%
$ 250,000 2.50'A>
$ 250,000 1.90%
$ 250,000 2.05%
$ 250,000 0.30'A>
$ 250,000 2.35%
$ 250,000 1.95%
$ 250 ,000 1.90%
$ 250,000 0.40%
$ 250,000 0.70%
A-3
Investment
Treasury-Bank of New York(Vining Sparks)
Summary ·
Local Agency Investment Fund (LAIF-CITY)
Certificate of Deposit -Malaga Bank
Certificate of Deposit -Malaga Bank
Certificate of Deposit -Vining Sparks
Treasury Bills -Vining Sparks
Total Investment
Issuer of
Investment
Marlin Business
Bank
Medallion Bank Utah
Mercantil Bank NA
Merrick Ba nk
Mid-M issouri Bank
Morgan Stanley
Bank NA
Morgan Stanley PVT
Bank
Morton Community
Northfiled Bank
Peoples United Bank
Preferred Bank LA
Raymond James
Bank
Sallie Mae Bank/Salt
Lake
Signature Bk
Chicago
Southem States
Bank
State Bank of India
State Bank of Chilton
Sterling Bank POP
BLMO
Summit Community
Bank
Synchrony Bank
BKCROW
Texas Exchange
Bank
Third Fed Sav&Ln
Clevland
Vision Bank of Iowa
Wellesley Bank
Wells Fargo Nat' I
Bank West
Wells Fargo Bank
United States Treas
United States Treas
United States Treas
29,633,008.68
250,000.00
3,988,913.17
17,500,000.00
3 ,000,000 00
54,371,92 1.85
CITY OF RANCHO PALOS VERDES
MONTHLY T REASURER'S REPORT
NOVEMBER 2020
CUSI~
57116ATMO
58404DFE6
58733AES4
59013JC23
59541KBP1
61747MD73
61760AZ51
619165HP1
66612ABX5
71270QQJ8
740367MA2
75472RAN1
7954504P7
82669VBY6
843879BB2
856285RS2
85641PDV9
85916VDN2
86604XML7
87165HRY8
88241T JJO
88241T JN1
88413QBU1
92834CCL4
94948LCRO
949495AQ8
949763D45
912828S35
912828S76
912828XZ8
Acquiaition
Dote
1115/2020
9/1812019
12/29/2017
10/11/2017
1/1912018
1212112017
9/1912019
1/19/2018
10/25/2017
1/18/2017
7/17/2020
1112612019
11/1612019
11/8/2017
1212012017
11/2712019
9/1112020
9/1812019
1/2612018
61212017
10/2312020
11/25/2020
11/24/2017
11129/201 9
7/19/2019
1/17/2020
6/10/2019
9/12/2019
7/31/2018
6/30/2020
Tonn
60 Mos
36Mos
36 Mos
60 Mos
60 Mos
36 Mos
48 Mos
36 Mos
60 Mos
60 Mos
60 Mos
72 Mos
60Mos
60 Mos
40Mos
72 Mos
60 Mos
48 Mos
30 Mos
60Mos
60Mos
60 Mos
48 Mos
72 Mos
18Mos
36 Mos
36 Mos
45 Mos
36Mos
60 Mos
Moturity
Dote
1/1512025
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
11126/2024
10/16/2024
11/8/2022
4/20/2021
11127/2024
9/11/2025
9/18/2023
7/2612021
6/212022
10/23/2025
11/25/2025
11 /24/2021
11129/2024
1/19/2021
1/17/2023
6/10/2022
6130/2023
7/3112021
6/30/2025
Total Investment
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
Morl<ot
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
1,000,000
1,000,000
1,000,000
Book
Value Yield
$ 250,000 1 75'k
$ 250,000 1.70%
$ 250,000 2.20%
$ 250,000 2.10%
$ 250,000 2.35%
$ 250,000 2. 15%
$ 250,000 1.85%
$ 250,000 215%
$ 250,000 2.15%
$ 250,000 2.05'k
$ 250,000 0.50'k
$ 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'k
$ 250,000 0.60%
$ 250,000 0.60%
$ 250,000 2.10%
$ 250,000 1.75'k
$ 250,000 2.00%
$ 250,000 1.90%
$ 250,000 2.50%
$ 1,000,000 138%
$ 1,000,000 1.13%
$ 1,000,000 2.75%
$ 54,371 ,922
Weighted Retum 1.12%
A-4
NOTE:
Malaga Bank-CD
7%
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2020
SUMMARY OF CASH BALANCE BY INSTITUTION
NOVEMBER 2020
Vining Sparks-Treasury
5%
Bank of the West
7%
Vining Sparks-Money Market
0%
State of california -LA IF
51%
(1) LAIF market values will be reported to vary from book value ~the City calculated share of total LAIF assets is less than the City book value.
To tha 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 aa:uretely reflects all City investments and complies with the investment policy of the City
of Rancho Palos Verdes as approved by the City Council. Furthennore, I certify that sufficient investment liquidity
and anticipated revenues are available to meet tha City's expenditure requirements for the next six months.
Respectfully submitted,
t{ 4'/ ~
Dated
A-5