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CC SR 20210202 D - December Treasurer Report CITY COUNCIL MEETING DATE: 02/02/2021 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA TITLE: Consideration and possible action to receive and file the December 2020 Cash Balances/Monthly Treasurer’s Report. RECOMMENDED COUNCIL ACTION: (1) Receive and file the December 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 December 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 $61,928,246, with $31.6 million or 51% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has over $5.4 million or 9% 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 28%, Treasury Bills at $3 million or 5% of the total cash balance, and a money market account of over $75,000 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 $20.4 million or 33% in the cash balance, and the Capital Improvement Projects (CIP) Fund has over $26.1 million or 42% in cash balance. The remaining cash balances are in the Equipment Replacement Fund with over $2.5 million or 4%, over $1.6 million or 3% 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 $9.2 million or 15% in Other Restricted Funds. The City’s cash balance increased by $3.3 million from last month. In comparison to the December balance of last year, the cash balance in this month decreased by $2.6 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 and Sunbeam Consulting 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 residential rehabilitation project, Chambers Group for the Portuguese Bend Landslide Mitigation Project, Ruiz Concrete for the sidewalk replacement project, and Chevrolet of Watson for purchase of two City vehicles. 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) AIILAIF intllniSI is paid quarterty. (2) Electronic Disbursements: Payroll Payroll Charges Bank and Merchant Fees Bonk ollhe Weal Operating 4 ,187,870.68 5,415,094.83 (1 ,476,028 .56) (642, 119. 75) (9,383.94) 500,000.00 (2,500,000.00) 5,475,433.26 383,445.77 238,744.08 19,929.90 642,119.75 (3) The net adjustment was due to void ched<s and other adjustments. CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT DECEMBER 2020 Mallogo Bonk Non-l'legotlable VIning Spark& PdyC.ah LAIF-CITY CD Money Morbi 5 ,000.00 29,633,008.68 4 ,238,913.17 26,083.17 49,807.71 2 ,000,000.00 500,000.00 (500,000.00) 5 ,000.00 31 ,633,008.68 4 ,238,913.17 75,890.88 DECEMBER 2020 CASH BALANCE BY MAJOR FUNDS 1% Vining Spark& YTDint In-TollllC.ah --20,500,000.00 58,590,875.70 5,415,094.83 96,561.54 (1 ,476 ,028.56) (642, 119. 75) 40,423.77 3,000,000.00 (3,000,000.00) 20,500,000.00 61,928,245.99 96,561 .54 .GENERAL FUND 33% .EQUIPMENT REPLACEMENT 4% .1911 ACT 3% DHABITAT RESTORATION 1% .QUIMBY2% .OTHER RESTRICTED FUNDS 15% A-1 CASH BALANCES BY FUND Unrestricted GENERAL FUND Restricted by Council Action BEAUTIFICATION FUND CIP EQU IPMENT REPLACEMENT BU ILDING REPLACEMENT EMPLOYEE BENEFITS SubtDial Restricted by Law or External Agencies STREET MAINTENANCE 1972ACT ELPRADO 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 OBLIGAT ION RETIRE IMPROVEMENT DISTRICT 9 SPECIAL TRUSTS SubtDtal GRAND TOTAL BALANCE FORWARD 17,617,874.06 0 .00 25,838,795.98 2 ,573,323.24 0.00 0.00 28,412,119.22 348,625.10 28,925.61 36,436.73 25,598.56 0 .00 1,379,801 .39 433,586.35 139,241 .43 871 ,438 .73 1,558,763.88 150,884.99 1 ,423,152.22 204,424.92 770,382.51 762,123.39 36,358.46 227,878.52 0 .00 0 .00 784,195.41 0 .00 0 .00 1,203,721.28 222,535 .06 8 57,337.72 297,691 .23 0 .00 0 .00 0 .00 0 .00 0 .00 2 ,921 .65 0.00 794,857 .28 12,560,882.42 58,590,875.70 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT DECEMBER 2020 DEBIT CREDIT CASH 10,636,151 .54 7,813,163.38 20,440,862.22 0.00 0.00 0.00 690,000.00 372,958.51 26,155,837 .47 23,400.00 44,192.07 2 ,552 ,531 .17 0.00 0 .00 0.00 0.00 0 .00 0.00 713,400.00 417,150.58 28,708,368.64 224,278.80 174,609.82 398,294.08 0.00 0.00 28,925 .61 1,089.71 0 .00 37,526.44 0.00 3,935.00 21 ,663.56 0.00 0.00 0.00 282,594.35 61 ,307.40 1,601 ,088.34 31,672.20 13,851 .28 451 ,407 .27 13,945.18 5,084.00 148,102.61 56,741 .13 570 .50 927,609.36 68,406.18 57 ,506 .19 1,569,663.87 24,849.39 32 ,500.00 143,234.38 81,002.64 188,441 .50 1,315,713.36 91 ,791 .05 30,593.69 265,622.28 0.00 0 .00 770,382.51 2 ,500.00 3,311 .19 761 ,312.20 0.00 25,000.00 11 ,358 .46 20,836.33 3,048.95 245,665.90 0.00 0.00 0.00 0.00 0 .00 0.00 3,200.00 319.28 787,076.13 0.00 0 .00 0.00 0.00 0.00 0.00 0 .00 2,661 .00 1,201 ,060.28 59 ,765.40 59,765.40 222,535.06 0.00 0.00 857 ,337 .72 0.00 13,740.00 283,951 .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 .00 000 0.00 314,420.71 314 ,420.71 2,921 .65 0.00 0.00 0.00 34,466.25 102,760.70 726,562.83 1,311,559.32 1,093,426.61 12,779,015.13 12,661 ,110.88 9 ,323,740.57 61,928,245.99 Total Investment: 61 ,928,245.99 Change In Ending Cash Balance 2 ,822,988.16 0 .00 317,041 .49 (20,792.07) 0.00 0 .00 296,249.42 49,668.98 0.00 1,089.71 (3,935 .00) 0 .00 221 ,286.95 17,820.92 8,861 .18 56,170.63 10,899.99 (7,650.61) (107,438.86) 61 ,197.36 0.00 (811 .19) (25,000.00) 17,787.38 0.00 0 .00 2,880.72 0 .00 0 .00 (2,661 .00) 0 .00 0 .00 (13,740.00 0 .00 0.00 0.00 0 .00 0 .00 (0.00 0 .00 (68,294.45 218,132.71 3,337,370.29 Change In Ending Cash Balance in% 18% 0% 1% -1% 0% 0% 1% 14% 0% 3% -15% 0% 16% 4% 6% 6% 1% -5% -8% 30% 0% 0% -69% 8% 0% 0% 0% 0% 0% 0% 0% 0% -5% 0% 0% 0% 0% 0% 0% 0% -9% 2% 6% A-2 Local Agency Investment Fund (LAIF-CITY) Note(1 ) CD -Non-Negotiable CD -Non-Negotiable CD-Bank m New Veri< -Vining Sparl<s (Non- Negotiable) State m California Malaga Bank Malaga Bank Allegiance Bank Texas Ally Bank American Bank Na LeMars American El<press Bank FSB American El<press Centurion AXOSBank BMW Bank North America Bob in Bank m o-field BankForwwd HAPOALO 112 12/15125 Bankers Bank Madison WI Bar Harbor Bank & Trust Barclays Bank Delaware Baycoast Bank Business Bk m St. Louis CIT Bank Capital One Bank USA Cathy Bank Celtic Bank Community West Bank Continental Bank UT Crossfirst Bank Eaglebank East Boston Savings Bank Enerbank USA Exchange Bank F armers&Merchants BKNEB First Bankm Highland First Commercial Bank MS First Financial Bank First Federal SVGS Bank Firstlntemet 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 Landmark Community Bank MAGBNC Malaga Bank FSB CITY O F RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT DECEMBER 2020 CUBII't 017480AY2 02007GKW2 024373AZ5 02587CHR4 02587DN38 05465DAK4 05580ASE5 06063HMT7 061785EG2 062163BN9 06251A202 06610RAT6 066851WV4 06740KKD8 072727AZ3 12325EHV7 12556LBB1 14042TB08 149159NX9 15118RUX3 20415QGX1 211163GYO 22766ABBO 27002YET9 27113PBM2 29266N6P7 3010740F4 30781TB09 319141GE 1 31984GFA2 32021MFC8 32031YCD4 32056GCQ1 32110YJT3 33847E2J5 38149MAU7 426336BF9 45581EAF8 48128UMX4 801798LK6 51210SMD6 51507LBV5 559582AL5 56102AAJ5 Acquilllion o.eo NJA 212312020 212312020 111312017 712512019 9127/2019 12/1912017 3121/2017 312612020 8116/2019 712212020 912512019 1212812019 12/14/2020 12120/2017 612812019 7/1212017 112412020 7/19/2017 8123/2019 7124/2019 912512019 4/1712020 712612019 212312018 6/912017 1/1712020 1/20/2017 10/1312017 7/19/2019 1/1812017 6!7/2017 7131/2019 212112018 1/17/2018 7/1412017 1120/2017 6/1212019 5131/2019 112712017 61212017 9130/2020 1/1 212018 1/131201 7 8123/2019 10/30/2020 5129/2020 Term NJA 24Mos 24Mos 60Mos 36Mos 36Mos 48Mos 60 Mos 48Mos 18Mos 60Mos 42Mos 60Mos 60 Mos 48Mos 24Mos 60Mos 60Mos 60Mos 30 Mos 36Mos 24Mos 60Mos 18Mos 36Mos 60Mos 36Mos 60Mos 48Mos 24Mos 60Mos 60Mos 24Mos 48Mos 37 Mos 60Mos 60Mos 36Mos 36Mos 60Mos 60Mos 60Mos 60Mos 54Mos 36Mos 54Mos 60Mos Maturity llota On Demand 212112022 212112022 111312022 712512022 9/2712022 1212012021 4/512022 312612024 2/1612021 712212025 3124/2023 12/1812024 1212512025 1212012021 612812021 7/1212022 1124/2025 7/19/2022 212312022 712512022 9/2412021 4/1712025 112612021 812312021 6/912022 111712023 112012022 10/13/2021 7/1912021 1/1812022 6!7/2022 7130/2021 212212022 2/1712021 7/1412022 1120/2022 6/13/2022 5/3112022 112712022 61212022 9/3012025 1/1 212023 7/13/2021 212312022 4/3012025 512912025 Mart<et Valua s 31 ,633,009 s 250,000 $ 3 ,988,913 s s s s $ s s s s $ s s s s s s s s $ $ s s s s s $ $ s $ $ s $ s s s s s $ s s s s s s 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 V•l ue s 31,633,009 0.54% $ 250,000 1.50% s 3,988,913 1.40'!1. s 250,000 2.20% $ 250,000 2.15% s 250,000 1.65% $ 250,000 2.20% $ 250,000 2 .45% s 250,000 1.65% $ 250,000 1.90% $ 250,000 0.65% $ 250,000 1.65% s 250,000 1.75% $ 250,000 0.50% $ 250,000 2.15% s 250,000 2.10% s 250,000 2.20% s 250,000 1. 70% s 250,000 2.05% s 250,000 1.95% $ 250,000 2.10% s 250,000 1.75% s 250,000 1 .50% $ 250,000 1.95% $ 250,000 2.30% s 250,000 2.05% s 250,000 1.70% s 250,000 2.00% $ 250,000 2 .00% s 250,000 2 05% s 250,000 2.05% $ 250,000 2.10% s 250,000 1.95% $ 250,000 2.45% s 250,000 2.15% $ 250,000 2.05% $ 250,000 2.00% $ 250,000 2.50% s 250,000 2.50% $ 250,000 1.90% s 250,000 2 .05% $ 250,000 0.30% $ 2 50,000 2 .35% $ 250,000 1.95% S 250,000 UK!% $ 250,000 0 .40'!1. $ 250,000 0 . 70% A-3 Investment Treasury-Bank of New Yorl<(Vin ing Sparl<s) Summary: Local Agency lnveslment Fund (LAIF-CITY) Certificate of Deposit -Malaga Bank Certificate of Deposit -Malaga Bank Certificate of Deposit -Vining Sparl<s Treasury Bills -Vining Sparl<s Total Investment laauer of lnveatment Marlin Busi ness Bank Medallion Bank Utah Merrick Bank Mid-Missouri Bank Morgan Stanley PVT Bank Morton Community Northfiled Ba nk Peoples United Bank Preferred Bank LA Raymond James Bank Sallie Mae Bank/Salt Lake Signature Bk Chicago Southern States Bank State Bank of India State Bank of Chilton Sterling Bank POP BLMO Summit Community Bank Synchrony Bank BKCROW Texas Exchange Bank Texas Exchange Bank Third Fed Sav&Ln Clevland V ision Bank of Iowa Wellesley Bank Wells Fargo Nat' I Bank West Wells Fargo Bank United States Treas United States T reas United States Treas 31 ,633,008.68 250,000.00 3,988,913.17 17,500,000.00 3,000,000.00 56,3 7 1.9 2 1.85 CITY OF RANCHO PALOS VERDES MONTHLY T REASURER'S REPORT DECEMBER 2020 CUSIPI 57116ATMO 58404DFE6 59013JC23 59541KBP1 61760AZ51 619165HP1 66612ABX5 71270QQJ8 740367MA2 75472RAN1 7954504P7 82669VBY6 843879BB2 856285RS2 85641PDV9 85916VDN2 86604XML7 87 165HRY8 88241TJJO 88241TJN1 88241TJR2 B84130BU1 92834CCL4 94948LCRO 949495AQ8 949763045 912828S35 912828S76 91282 8XZ8 Acqui1ition o ... 1/15/2020 9/18/2019 10/11/2017 1/19/2018 9/19/2019 1/19/2018 10/25/2017 1118/2017 7/17/2020 11 /26/2019 11116/2019 11/8/201 7 12/20/2017 11/27/2019 9/11/2020 9/18/2019 1/26120 18 6/2/201 7 10/23/2020 11125/2020 12/18/2020 11/24/2017 11/29/2019 7/19/201 9 1117/2020 6/10/2019 9/12/2019 7/31/2018 6/30/2020 Term 60 Mos 36 Mos 60 Mos 60 Mos 48Mos 36 Mos 60 Mos 60Mos 60Mos 72 Mos 60Mos 60 Mos 40 Mos 72 Mos 60 Mos 48 Mos 30Mos 60 Mos 60 Mos 60 Mos 60 Mos 48 Mos 72 Mos 18 Mos 36 Mos 36 Mos 45 Mos 36 Mos 60 Mos 1/15/2025 9/19/2022 10/11/2022 1/19/2023 9/19/2023 1/19/2021 10/25/202 2 1118/2022 7/17/2025 11126/2024 10/16/2024 11/8/2022 4/20/2021 11/27/2024 9/11/2025 9/18/2023 7/26/2021 6/2/2022 10/23/2025 11125/2025 12/18/2025 11/24/2021 11 /29/2024 1/19/2021 1/17/2023 6/10/2022 6/30/2023 7/31/2021 6/30/202 5 Total Investment $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ 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 2 50,000 250,000 250,000 250,000 250,000 250,000 2 50,000 1,000,000 1,000,000 1,000,000 Book Value Yield $ 250,000 175% $ 250,000 1.70% $ 250,000 210% $ 250,000 2.35'A> $ 250,000 1.85'A> $ 250,000 2.15% $ 250,000 215% $ 2 50,000 2 05% $ 250,000 0.50% $ 250,000 1.85% $ 250,000 1.90°A> $ 250,000 2.15% $ 250,000 2.00% $ 250,000 2.05% $ 250,000 0.50% $ 250,000 1.65% $ 250,000 2.20% $ 250,000 240% $ 250,000 0.60% $ 250.000 0.60°A> $ 250,000 0.60% $ 250,000 2.10% $ 250,000 175% $ 250,000 2.00% $ 250 ,000 1. 90'A> $ 250,000 2.50% $ 1,000,000 1.38% $ 1,000,000 1.13% $ 1,000,000 2.75% $ 56,371 ,922 W eighted Return 1.06'A> A-4 NOTE: Malaga Bank -CD 7% CITY O F RANCHO PALOS VERDES MONTHLY T REASURER'S REPORT DECEMBER 2020 SUMMARY OF CASH BALANCE BY INSTITUTION DECEMBER 2020 Vini~g Sparks -Treasury 5% Bank of the West 9 % Vining Sparks -Money Market 0% State of california -LAIF 51% (1) LAIF marl<et values will be rvported to very from book value if the City calculated share ol total LAIF assets is less than the C ity book value. To the best ol my knowledge, thera are no misstatements ol material amounts within this raport; or omissions ol material amounts to cause the raport to be misleeding. I certify that this raport accurately reflects all City investments and complies with the investment policy olthe City ol Rancho Palos Verdes as approved by the City Council. Furthermore, I certify that sulfocient investment liquidity and anticipated revenues ara available to meet the City's expenditure requirements for the next six months. Respectfully submitted, A-5