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CC SR 20210302 D - January 2021 Treasurer Report CITY COUNCIL MEETING DATE: 03/02/2021 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA TITLE: Consideration and possible action to receive and file the January 2021 Cash Balances/Monthly Treasurer’s Report. RECOMMENDED COUNCIL ACTION: (1) Receive and file the January 2021 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 January 2021. 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 $64,346,180, with $31.6 million or 49% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has over $6.2 million or 10% 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 million or 26%, Treasury Bills at $5 million or 8% of the total cash balance, and a money market account of over $122,000 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 $22.2 million or 35% in the cash balance, and the Capital Improvement Projects (CIP) Fund has over $26.2 million or 41% 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 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 $9.7 million or 15% in Other Restricted Funds. The City’s cash balance increased by $2.4 million from last month. In comparison to the same month of last year, the cash balance in this month decreased by $2.9 million, mainly attributed to the timing of disbursements for City-approved projects. The major disbursements for this month included Aleshire & Wynder for legal services, 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 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) Eleclrnnic Disbursements: Payroll Payroll Charges 2021RBC Sales Taxes Bank and Merchant Fees a.nkofthoW.St Operating 5 ,475,433.26 5,200,284.62 (2,156,747.14) (738,606.81) 471 .00 500,00000 (2,000,000.00) 6 ,282,834.93 351,678.96 231 ,036.24 51 ,458.64 115.00 102,317.97 736,606.81 (3) The net adjustment was due to void ched<s and other adjustments. CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT JANUARY 2021 Mologo a.nk ~ble Vining Sporb Petty CUll LAIF-GITY CD lloneyMarbt 5,000.00 3 1 ,633,008.68 4 ,238,9 13.1 7 75,890.88 49,661 .84 13,998.79 46,872.11 5,000.00 31,682,670.52 4 ,252,911 .96 122,762.99 JANUARY 2021 CASH BALANCE BY MAJOR FUNDS 1% Vining Sporb lnwatment TolaiCUh 20,500,000.00 6 1,928,245.99 5,200,284.62 110,532.74 (2,156,747.14) (736,606.81) 471 .00 1 ,500,000.00 2,000,000.00 (2,000,000.00) 22,000,000.00 64,346,180.40 .GENERAL FUND 35% YTDint - 207,094.28 207,094.28 .EQUIPMENT REPLACEMENT 4% .1911ACT2% DHABITAT RESTORATION 1% .QUIMBY2% .OTHER RESTRICTED FUNDS 15% A-1 CASH BALANCES BY FUND Unrestricted GENERAL FUND Restricted bv Council Action BEAUTIFICATION FUND CIP EQUIPMENT REPLACEMENT BU ILDING REPLACEMENT EMPLOYEE BENEFITS Sul*ltal Restricted bv Law or External Aoencies 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 CU LTURE ARTS BUILDING DONOR RESTRICTED CONTRIBUTIONS FEDERAL GRANTS STATE GRANTS QUIMBY LOW-MODERAT E 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 TRUST S Subtotal GRAND TOTAL BALANCE FORWARD 20,440,862.22 0 .00 26,155,837.47 2 ,552,531 . 17 0.00 0 .00 28,708,368.64 398,294.06 28,925.61 37,526.44 21 ,663.56 0 .00 1,601 ,088.34 451 ,407.27 148,102.61 927,609.36 1,569,663.87 143,234.38 1,315,713.36 265,622.28 770,382.51 761,312.20 11,358.46 245,665.90 0.00 0.00 787,076.13 0 .00 0 .00 1,201,060.28 222,535.06 857,337.72 283,951 .23 0 .00 0 .00 0 .00 0 .00 0 .00 2,921 .65 0.00 726,562.83 12,779,015.13 61,928,245.99 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT JANUARY 2021 DEBI T C REDIT CASH 8,319,101 .94 6 ,481,883.26 22,278,080.90 0 .00 0 .00 0 .00 65,839.39 9,658.64 26,212 ,018.22 6,506.26 2,968.65 2,556,068. 78 0 .00 0.00 0.00 0 .00 0 .00 0 .00 72,345.65 12,627.29 28,768,087.00 73,195.76 71,690.46 399,599.36 73.32 0 .00 28,998.93 389.16 0 .00 37,915.60 0 .00 0 .00 21,663.56 0 .00 0 .00 0 .00 80,365.35 33 ,353.83 1,648,1 19.86 14 ,960.42 16,147.45 450,220.24 364.32 0 .00 148,466.93 62,206.26 0 .00 989,815 .62 76,247.67 5,550.65 1,640,360.89 24,819.66 0.00 168,054 04 3,516.50 38 ,230.56 1,280,999.30 51 ,293.13 29,344.67 287,570 .74 1,952.69 46,225.00 726,110.20 1,934.27 3,107.62 760 ,138.85 71 .03 0.00 11 ,429 .49 5,832.60 2 ,099.68 249,398.82 0 .00 0 .00 0 .00 0.00 0 .00 0 .00 4 ,990.13 1,787.32 790,278.94 0.00 0.00 0 .00 2 ,213.25 2,213.25 0 .00 3,048.82 0.00 1 ,204 ,1 09.10 564.06 0 .00 22 3,099.12 2,173.09 0 .00 859,510.81 750.96 16,5 15.00 268,187 .19 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 0.00 306,634.12 0 .00 309,755.77 0 .00 0 .00 0 .00 75,419.25 5,772.94 796 ,209.14 793,235.82 272,238.45 13,300,012.50 9 ,184,683.41 6 ,766,749.00 64,346,180.40 Total Investment 64,346,180.40 Change In Ending Cash Balance 1,837.218.68 0 .00 56,180.75 3,537.61 0 .00 0 .00 59,718.36 1,305.26 73.32 369.16 0 .00 0 .00 47,031.52 _11 ,1 87 .0~ 364 .32 62,206.26 70,697.02 24,819 .66 _{34 ,714.06) 21,948.46 (44,272.31 (1,173.35 71 .03 3 ,732.92 0 .00 0 .00 3,202.81 0 .00 0 .00 3 ,048 .82 564.06 2,173.09 (15, 764.04) 0.00 0.00 0.00 0.00 0.00 306,834 .12 0 .00 69,646.31 520,997.37 2,417,934.41 Change In Ending Cash Balance in % 9% 0 % 0% 0 % 0% 0% 0% 0% 0% 1% 0% 0% 3 % 0% 0% 7% 5% 17% -3% 8% -0% 0% 1% 2% 0% 0% 0 % 0 % 0 % 0 % 0 % 0 % -0% 0 % 0 % 0 % 0% 0% 10502% 0% 10% 4% 4% A-2 - Local /iqetncy Investment Fund (LAIF-CITY) Note (1) CD -Non-Negoliable CD -Non-Negotiable CD -Bank of New Vorl< -Vining Spari(s (Non- Negotiable) State of California Malaga Bank Malaga Bank Allegiance Bank Texas Ally Bank Americlwl Bank Na Le Ma<s American Express Bank FSB Americlwl Express Centurion AXOSBank BMW Bank North America Bobin Bank of o-foeld Bank Forward HAPOAL0112 12115125 Bankers Bank Madison WI Bar Harbor Bank & Trust Barclays Bank Delaware Baycoast Bank Business Bk of St. Louis CIT Bank Capilal One Bank USA Cathy Bank Celtic Bank Continenlal Bank UT Crossfirat Bank Eaglebank East Boston Savings Bank Enerbank USA Exchange Bank Farmers&Merchants BKNEB Firat Bank of Highland Firat Commercial BankMS Firat Financial Bank Firat Federal SVGS Bank Firat Internal Bank of In Firat National Bank of America Flagstar Bank Goldman Sacha Bank USA Henry County Bank OH lnduatriai&Com Bank China JP Morgan Chaaa Bank LCA Bank Corp lakeside Bank Landmark Community Bank MAGBNC Malaga Bank FSB CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT JANUARY 2021 CUlliN 01748DAY2 02007GKW2 024373AZ5 02587CHR4 02587DN38 05465DAK4 05580ASE5 06063HMT7 061785EG2 0621638N9 06251A2Q2 06610RAT6 066851WV4 06740KKDB 072727AZ:J 12325EHV7 12556LBB1 14042TBD8 149159NX9 15118RUX3 211163GYO 22766ABBO 27002YET9 27113PBM2 29266N6P7 301074DF4 30781TBD9 319141GE1 31984GFA2 32021MFCB 32031YCD4 32056GCQ1 32110YJT3 33847E2J5 38149MAU7 426336BF9 45581EAF8 4812BUMX4 48128UMX4 801798LKS 51210SMD6 51507LBV5 559582AL5 56102AAJ5 NJA 212312020 212312020 11/312017 712512019 912712019 1211912017 312112017 312612020 811612019 712212020 912512019 12128/2019 1211412020 1212012017 6128/2019 7/1212017 112412020 7/1912017 812312019 712412019 912512019 4117/2020 212312018 6/912017 1/1712020 1120/2017 1011312017 7/19/2019 1/1812017 6/7/2017 7131/2019 2121/2018 1/1712018 7/1412017 112012017 6/1212019 5/3112019 1127/2017 6/212017 1127/2021 913012020 1/1212018 1/1312017 812312019 10/3012020 512912020 r ..... N/A 24Mos 24Mos SOMos 36Mos 36 Mos 48Mos SO Mos 48Mos 18Moa SOMos 42Mos SOMos SOMes 48 Mos 24Mos SOMos SOMos SOMes 30Mos 36Mos 24Mos SOMos 36Mos SOMos 36Mos SOMes 48Mos 24Mos SOMos SOMes 24Mos 48Moa 37 Mos SOMos SOMes 36Mos 36Mos SOMos SOMos SOMos SOMos SOMos 54Mos 36Mos 54Moa SOMes Maturity on. On Demand 212112022 212112022 11/312022 712512022 912712022 1212012021 4/512022 312612024 211612021 712212025 3124/2023 12118/2024 1212512025 1212012021 612812021 7/1212022 112412025 7/1912022 212312022 712512022 912412021 4/17/2025 812312021 61912022 1/1712023 112012022 10/1312021 7/1912021 1/1812022 6/712022 713012021 212212022 211712021 7/1412022 112012022 6/1312022 5/31/2022 112712022 6/212022 112712026 913012025 1/1212023 7/1312021 212312022 4/3012025 512912025 Ma.vt Valua $ 31 ,682,671 $ 250,000 $ 4,002,912 $ $ $ $ $ $ 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 .... $ 31,682,671 0 .46% s 250,000 1.50% $ 4,002,912 1.40% $ 250,000 2 .20% $ 250,000 2 .15% $ 250,000 1.65% s 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'!1. $ 250,000 0.50% $ 250,000 2 .15% $ 250,000 2 .10% $ 250,000 2 .20% $ 250,000 1.70% $ 250,000 2.05'!1. $ 250,000 1.95% $ 250,000 2 .10% $ 250,000 1.75% $ 250,000 1.50% s 250,000 2 .30% s 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'!1. $ 250,000 2 .15% s 250,000 2 .05% s 250,000 2 .00% s 250,000 2 .50% $ 250,000 2 .50% s 250,000 1.90% $ 250,000 2 .05% $ 250,000 0 .50% s 250,000 0 .30% s 250,000 2 .35% s 250,000 1.95% $ 250,000 1.90% $ 250,000 0 .40% s 250,000 0.70% A-3 Treasury-Bank of New York(Vining Sparks) Summary: Local Agency Investment Fund (LAIF-CITY) Certificate of Deposrt -Malaga Bank Certificate of Deposit -Malaga Bank Certificate of Deposit -Vining Sparks Treasury Bills -Vining Sparks Total Investment luuerof lnwetment Marlin Business Bank Medallion Bank Utah Merrick Bank M id-Missouri Bank Morgan Stanley PVT Bank Northfiled Bank 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 Chi~on Sterling Bank POP BLMO Summit Community Bank Synchrony Bank BKCROW Texas Exchange Bank Texas Exchange Bank Third Fed Sav&Ln Clevland Vision Bank of Iowa Wells Fargo Nat'l Bank West Wells Fargo Bank United States Treas United States Treas United States Treas United States Trees 31 ,682,670.52 250,000.00 4 ,002,911 .96 17,000,000 .00 5,000,000.00 57,935,582.48 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT JANUARY 2021 CUSIPI 57116ATMO 58404DFE6 59013JC23 59541KBP1 61760AZ51 66612ABX5 71270QQJ8 740367MA2 75472RAN1 7954504P7 82669VBY6 843879BB2 856285RS2 85641PDV9 85916VDN2 86604XML7 87165HRY8 88241TJJO 88241TJN1 88241TJR2 88413QBU1 92834CCL4 949495AQ8 949763045 912828S35 912828S76 912828XZ8 91282CBC4 Acquieitlon Date 1115/2020 9/1812019 1011112017 111912018 911912019 10/25/2017 111812017 711712020 1112612019 11116/2019 11/812017 12/20/2017 11127/2019 911112020 911812019 112612018 6/212017 1012312020 11125/2020 12/1812020 11124/2017 1112912019 1117/2020 6/1012019 911212019 7/3112018 6130/2020 111212021 Term 60 Mos 36 Mos 60 Mos 60 Mos 48 Mos 60 Mos 60Mos 60Mos 72Mos 60Mos 60Mos 40Mos 72 Mos 60 Mos 48 Mos 30 Mos 60Mos 60Mos 60 Mos 60Mos 48 Mos 72 Mos 36Mos 36 Mos 45 Mos 36 Mos 60Mos 60 Mos Maturity Date 1115/2025 9119/2022 1011112022 111912023 9119/2023 10/25/2022 1118/2022 711712025 1112612024 10116/2024 111812022 412012021 1112712024 911112025 911812023 7/26/2021 6/212022 10/2312025 11125/2025 12/18/2025 11124/2021 11129/2024 111712023 6/1012022 6/30/2023 7/3112021 6/3012025 12/3112025 Total Investment $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ s $ $ $ $ $ $ Mar1<ot Volue 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 $ 2,000,000 Yield $ 250,000 175% $ 250,000 1.70% $ 250,000 2.10% $ 250,000 2.35% $ 250,000 1.85% $ 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 0.60% $ 250,000 0.60% $ 250,000 0.60% $ 250,000 2.10% $ 250,000 1.75% $ 250,000 1.90% $ 250,000 2. 50% $ 1,000,000 1.38% $ 1,000,000 1.13% $ 1,000,000 2. 75% $ 2 ,000,000 0.38% $ 57,935,582 Weighted Return 1.03% A-4 NOTE: Malaga Bank -CD 7% CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT JANUARY 2021 SUMMARY OF CASH BALANCE BY INSTITUTION JANUARY 2021 Vining Sparks-Treasury 8% , Vining Sparks -Money Market ' "" State of California-LA IF 49% (1) LAIF marlcet values will be r.ported to Y8l'f from book value if the City calallated 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 thi1 r.port ac:antely reflects all City invel1ments and ~lies with the investment policy of the City of Rancho Palos Verdes as approved by the City Council. Furthermore, t certify that sullicient invel1ment liquidity and anticipated revenues are available to meet the City'• expenditure requirements for the next aix months. Respectfully IUbmitted, A-5