CC SR 20210302 E - June 2020 Final 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 June 2020 final Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the June 2020 final 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:
The preliminary cash balance report was submitted at the August 4, 2020 City Council
meeting for Council’s approval. The annual audit for Fiscal Year 2019 -2020 was
completed and the City’s CAFR was presented at February 2, 2021 City Council meeting.
The City’s total cash balance remained unchanged; however, some cash balances for
individual funds have changed due to year-end adjustments. The adjustments are to
correct the timing disbursements and deposits. The changes are a decrease of the
General Fund (Fund 101) by $314,421 and an increase of the same amount in the
Redevelopment Obligation Retirement (Fund 701- RDA) from the proceeds received from
the Los Angeles County for the Redevelopment Property Tax Trust Fund Allocation . The
other adjustment is in the Trust Deposits (Fund 780) for $34,051 related to the timing of
the services rendered for inspection. The report presented tonight reflects the final cash
balance for each fund.
1
This report summarizes the cash balance of all funds and investments for the month of
June 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 $65,971,384, with more than $35.9 million
or 54% 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 6% with Malaga Bank. In addition, the City has a total Certificates of
Deposit (CD) investments and Treasury Bills $21.5 million or 33% of the total cash
balance and a money market account of over $1 million or 2% with Vining Sparks, our
investment brokerage firm. The securities are held by the Bank of New York and are
FDIC-insured.
In summary, the City’s General Fund has over $22.8 million or 35% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $25.7 million or 39% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with over
$2.6 million or 4%, over $1.2 million or 2% in the 1911 Act Fund, over $0.8 million or 1%
in the Habitat Restoration Fund, over $1.1 million or 2% in the Quimby Fund, and over
$11.4 million or 17% in Other Restricted Funds.
The City’s cash balance decreased by $57,000 from last month. In comparison to the
June balance from last year, the cash balance in this month increased by $1.7 million.
Compared to the same period the previous year, the significant variance was attributed
to the timing of disbursements for City-approved projects. The major disbursements for
this month included Stay Green for the Citywide Landscape Maintenance Project,
Aleshire & Wynder for legal services, Anchor Qea for the Storm Water Quality Project,
Hardy & Harper for the Road Maintenance Project, Sunbeam Consulting for the
Residential Rehabilitation Areas 3 and 4 Project, Palp Inc. for the Transit Improvement
Turnout Station Project, and Palos Verdes Land Conservancy for the Acacia Removal
Fuel Modification Project. All other expenditures were disbursed in accordance with the
Fiscal Year 2019-20 Budget.
2
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNING${1)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENT${2)
ADJUSTMENT${3)
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
Postage
Petty Cash
Bank and Me!t:hant Fees
Bonk 0{ the W•t
Opemlng
5,976,076.34
2,212,983.15
(1,703,189.88)
(598,678.87)
(512.00)
400,000.00
(3,026,250.00)
3,260,428.74
367,638.77
220,344.19
2,500.00
876.00
7,319.91
598,678.87
(3) The nel adjustment was due to deposit adjustment.
CITY OF RANCHO PALOS VERDES
MONTHLY T REASURER'S REPORT
JUNE 2020 (FINAL)
Molega Bonk
NoMiogolloble Ylningllportca .....,CUll LAIF-CITY CD Money MarUI
5,000.00 32,941 ,946.79 4,211 ,213.05 144,087.49
13,750.30
3,000,000.00 1 ,294,458.06
(400,000.00)
5,000.00 35,941,946.79 4,224,963.35 1 ,038,545.55
JUNE 2020 CASH BALANCE BY MAJOR FUNDS
1%
Ylningllportla
1-TCIIIIICooh
22,750,000.00 66,028,323.67
2,212,983.15
13,750.30 730,066.27
(1 ,703,189.88)
(598,678.87)
(512.00)
4,694,458.06
(1 ,250,000.00) (4,676,250.00)
21,500,000.00 65,970,884.43 730,066.27
.GENERAL FUND 35%
.EQUIPMENT REPLACEMENT 4%
.1911 ACT 2%
C HABITAT RESTORATION 1%
QUIMBY 2%
.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 BENEFITS
Subtolll
Restricted by Law or External Agencies
STREET MAINTENANCE
1972 ACT
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
QU IMBY
LOW-MODERATE INCOME HOUSING
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICATION
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IM PROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtolll
GRAND TOTAL
BALANCE
FORWARD
23,175,285.48
0.00
25,563,835.98
2,600,834.73
0 .00
0 .00
28 164,670.71
1 ,589,847. 78
28,781 .94
35,924.84
0 .00
0 .00
1,285,913.07
445,998.62
138,962.01
873,090.39
2,396,149.74
119,794.00
1,252,652.62
109 ,901.85
809,107.26
764,227.87
0 .00
304,312.32
0 .00
0 .00
780,930.86
98,314.23
0.00
1,174,174.33
192 ,908.04
853,079.37
322,767.10
0 .00
0 .00
0 .00
0 .00
0 .00
195,610.12
0 .00
915,919.14
14,688,367.50
68,028,323.67
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2020
DEBIT CREDIT CASH
9,801 538.08 9,897,403.13 22,879,420.41
0 .00 0.00 0 .00
407,575.86 21 3,371.93 25 ,758,039.91
33,104.65 15,256.37 2,618,683.01
0.00 0.00 0 .00
0 .00 0.00 0 .00
440 680.51 228,628.30 28,376,722.92
180,927.73 103,606.91 1 ,667,168.60
50.86 0.00 28,832.80
197.02 0.00 36,121 .86
42,863.00 30,1 85 .68 12,677.32
0.00 0.00 0 .00
35,712.28 58,137.07 1,263,488.28
43,150.34 31 ,568.64 457,580 .32
237.32 0.00 139,199.33
50,367.54 0.00 923,457.93
63,560.56 184,531 .80 2,275,178.50
185.90 43,750.00 76,229 .90
38,610.52 264.74 1,290,998.40
67,547.16 75,906.92 101 ,542.09
1,429.64 0.00 810,536.90
12,015.39 4,863.94 771 ,379.32
31 ,459.57 31 ,459.57 0.00
1,080.57 6 ,655.72 298 ,737.17
0 .00 0.00 0 .00
0 .00 0.00 0.00
1,379.98 97.19 782,21 3.65
0 .00 98,314.23 0 .00
104,747.75 104,747.75 0 .00
2,074.69 0.00 1,176,249.02
38,964.86 10,000.40 221,872.50
1,507.33 0.00 854,586.70
99,621 .26 60,024.12 362,364.24
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
357,172.34 243,117.00 309,665.46
0.00 0 .00 0.00
148,027.89 209,286.22 854,660.81
1,322 891 .50 1,296,517.90 14,714,741 .10
11 ,365,110.09 11 ,422,549.33 65,970,884.43
Total Investment: 65,970,884 .43
Change In
Ending Cash
Balance
(295,865.05)
0 .00
194,203.93
17,848.28
0 .00
0 .00
212,052.21
77,320.82
50.86
197.02
12,677.32
0 .00
(22,424.79
11 ,581 .70
237.32
50,367.54
_i120,971 .24
(43,564.10
38,345.78
(8,359.76)
1,429.64
7 ,151.45
0 .00
(5,575 .15
0 .00
0 .00
1,282.79
_i98,314.23)
0 .00
2,074.69
28,964.46
1,507.33
39,597.14
0 .00
0 .00
0.00
0.00
0 .00
11 4 ,055.34
0 .00
(61 ,258.33
26,373.60
(57,439.24)
Change In
Ending Cash
Balance in %
-1%
0%
1%
1%
0%
0%
1%
5%
0%
1%
0%
0%
-2%
3%
0%
6%
-5%
-36%
3%
-8%
0%
1%
0%
-2%
0%
0%
0%
-100%
0%
0%
15%
0%
12%
0%
0%
0%
0%
0%
58%
0%
-7%
0%
0%
A-2
Locallq&ncy Investment Fund (LAIF-CITY)
Note(1)
CD -Non-Negotiable
CD -Non-Negotiable
CD -Bank of New Vorl< -Vining Spar1<s (Non-
Negotiable)
-of -
State of Cal~omia
Malaga Bank
Malaga Bank
Allegiance Bank
Texas
Ally Bank
American Bank Na
Le Mars
American Elcpresa
Bank FSB
American Express
Centurion
AXOS Bank
BMW Bank North
America
BMO Harris Bank
Bank of o-f.eld
Bank Forward
Bankers Bank
Madison WI
Bar Harbor Bank &
Trust
Barclayw Bank
Delaware
Bayc:oest Bank
BenefiCial Bank
Business Bk of St
Louis
CIT Bank
Capital One NA
Capital One Bank
USA
cathy Bank
Ce~ic Bank
Community West
Bank
Continental Bank UT
Crossfirst Bank
Eeglebank
East Boston Savings
Bank
Enertlank 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
Hanry County Bank
OH
lnduslriai&Com Bank
China
LCA Bank Corp
Lakeside Bank
CITY OF RANCHO PALOS VERDES
MONTH LY INVESTM ENT REPORT
JUNE 2020
CUSIPf
017o48DAY2
02007GKW2
02o4373AZ5
02587CHRo4
02587DN38
05465DAKo4
05580ASE5
05581W5Qo4
061785EG2
062163BN9
06610RAT6
066851WVo4
067o40KKD8
072727Az:3
08173QBT2
12325EHV7
12556LBB1
140o42RDA6
140o42TBD8
1o49159NX9
15118RUX3
20o415QGX1
211163GYO
22766ABBO
27002YET9
27113PBM2
29266N6P7
30107o4DFo4
30781TBD9
3191o41GE1
3198o4GFA2
32021MFC8
32031YCDo4
32056GCQ1
32110YJT3
338o47E2J5
381o49MAU7
o4263368F9
o45581EAF8
801798LK6
51210SMD6
Acqlftltion
Oall
NIA
212312020
212312020
111312017
712512019
9127/2019
12/1912017
3121/2017
312612020
811612019
212812020
912512019
1212812019
12120/2017
612812019
711212017
112<1/2020
1017/2016
7119/2017
812312019
1011312016
712o412019
912512019
<111712020
712612019
212312018
61912017
111712020
112012017
1011312017
7119/2019
111812017
6{7/2017
7131/2019
2121/2018
111712018
711<112017
1120/2017
611212019
5/31/2019
1127/2017
612/2017
111212018
111312017
Term
NIA
2o4Mos
2o4Mos
60Mos
36Mos
36Mos
o48 Mos
60Mos
o48 Mos
18Mos
60Mos
o42 Mos
60Mos
o48Mos
2o4Mos
60Mos
o48 Mos
60Mos
30Mos
o48 Mos
36Mos
2o4Mos
60Mos
18Mos
36 Mos
60Mos
36Mos
60Mos
o48 Mos
2<1 Mos
60Mos
60Mos
2o4 Mos
o48 Mos
37Mos
60Mos
60Mos
36Mos
36Mos
60Mos
60Mos
60Mos
5o4 Mos
Maturity
OaiO
On Demand
2121/2022
212112022
11/312022
712512022
912712022
12120/2021
o415/2022
31261202<1
211612021
212812025
312<1/2023
12/181202<1
12120/2021
612812021
711212022
112<112025
1017/2020
711912022
212312022
1011312020
712512022
912<1/2021
<111712025
112612021
812312021
6/912022
111712023
112012022
1011312021
711912021
111812022
6{7/2022
713012021
212212022
2/1712021
711<112022
1120/2022
611312022
5/31/2022
112712022
6/212022
111212023
711312021
Mar1<et
Value
s 35,941 ,947
s 250,000
s 3,97<1 ,963
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
s 35,941,947 1 .~
s 250,000 1.50%
s 3,97<1,963 1 . .co%
$ 250,000 2.20%
s 250,000 2.15%
$ 250,000 1.65%
s 250,000 2.20%
s 250,000 2.<15%
$ 250,000 1.65%
$ 250,000 1.90%
$ 250,000 1.90%
s 250,000 1.65%
$ 250,000 1.75%
$ 250,000 2.15%
s 250,000 2.10%
$ 250,000 2.20%
$ 250,000 1.70%
s 250,000 1.35%
$ 250,000 2.05%
s 250,000 1.95%
s 250,000 1 . .co%
$ 250,000 2.10%
$ 250,000 1.75%
s 250,000 1.50%
$ 250,000 1 .95%
$ 250,000 2.30%
$ 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.<15%
$ 250,000 2.15%
s 250,000 2.05%
$ 250,000 2.00%
s 250,000 2.50%
s 250,000 2.50%
s 250,000 1.90%
s 250,000 2.05%
s 250,000 2.35%
$ 250,000 1.95%
A-3
lnveatment
Treasury-Bank of New Yor1<(Vining Sparks)
Summary:
Local Agency Investment Fund (LAIF-CITY)
Certificate of Deposit -Malaga Bank
Certifica l e of Depos it -Ma laga Bank
Certifi cate of Deposit -Vining Sp ar1<s
Treasury Bills-Vining Spar1<s
Total Investmen t
luuerof
Investment
Landmar1<
Community Bank
Live Oak Banking
Company
Luana Savings Bank
Malaga Bank FSB
Marlin Business
Bank
Medallion Bank Utah
Mercantil Bank NA
Merricl< Bank
Mid-Missouri Bank
Morgan Stanley
Bank NA
Morgan Stanley PVT
Bank
Morton Community
Northfiled Bank
Peoples United Bank
Raymond James
Bank
Sallie Mae Bank/Salt
Lake
Signature Bank of
Arkansas
Signature Bk
Chicago
Southam States
Bank
State Bank of India
Sterling Bank POP
BLMO
Summit Community
Bank
Suntrust Bank
Synchrony Bank
Third Fed Sav&Ln
Clevland
Vision Bank of Iowa
Wellesley Bank
Wells Fargo Nat'l
Bank West
Wells Fargo Bank
United States Treas
United States Treas
United States Treas
United States Treas
35 ,941,946.79
250,000.00
3,974,963.35
17,500,000.00
4 ,000,000.00
61 ,666,910.14
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPO RT
JUNE 2020
C U SI~
51507LBV5
538036CG7
549103WGO
56102AAJ5
57116ATMO
58404DFE6
58733AES4
59013JC23
59541KBP1
61747MD73
61760AZ51
619165HP1
66612ABX5
71270QQJ8
75472RAN1
7954504P7
82669LGD9
82669VBY6
843879BB2
856285RS2
85916VDN2
B6604XML7
86789VUPO
87165HRY8
88413QBU1
92834CCL4
94948LCRO
949495AQ8
949763D45
9128282J8
912828S35
912828S76
912828XM7
Acquisition
Date
8/23/2019
8/19/2016
718/2016
5/2912020
1/15/2020
9/18/2019
12/29/2017
10/11/2017
1119/2018
12/21/2017
9/19/2019
1119/2018
10/25/2017
1/18/2017
11/2612019
11/1612019
7/15/2016
11/8/2017
12/20/2017
11/27/2019
9/18/2019
1/26/2018
8/29/2017
612/2017
11/24/2017
11/29/2019
7/19/2019
1/17/2020
6/10/2019
7/15/2019
9/12/2019
7/31/2018
7/31/2018
Tenn
36 Mos
48 Mos
48 Mos
60 Mos
60 Mos
36 Mos
36 Mos
60 Mos
60 Mos
36 Mos
48 Mos
36 Mos
60 Mos
60 Mos
72 Mos
60Mos
48 Mos
60Mos
40 Mos
72Mos
48 Mos
30 Mos
60 Mos
60Mos
48 Mos
72 Mos
18 Mos
36 Mos
36 Mos
12 Mos
45 Mos
36 Mos
24Mos
M1turity
Date
2/23/2022
8/19/2020
7/8/2020
5/29/2025
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
1118/2022
11/26/2024
10/16/2024
7/15/2020
11/8/2022
4/20/2021
11/27/2024
9/18/2023
7/26/2021
8/29/2022
6/2/2022
11/24/2021
11/29/2024
1/19/2021
1/17/2023
6/10/2022
7/15!2020
6/30/2023
7/31/2021
7/31/2020
Total Investment
$
s
$
$
$
$
$
s
$
$
$
$
$
$
s
$
$
s
$
$
$
$
$
s
$
$
$
$
$
$
$
$
$
M1rtcat
V1 lue
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
1,000,000
1,000,000
1,000,000
1,000,000
Book
Value Yield
$ 250,000 1.90%
s 250,000 1.25%
s 250,000 1.15%
$ 250,000 0.70%
$ 250,000 175%
$ 250,000 1 70%
$ 250,000 2.20%
$ 250,000 2.10%
$ 250,000 2.35%
s 250,000 2.15%
$ 250,000 1.85%
s 250,000 2.15'k
s 250,000 2.15%
$ 250,000 2.05%
s 250,000 1.85%
$ 250 ,000 1.90%
$ 250,000 115%
s 250,000 2.15%
$ 250,000 2.00%
$ 250 ,000 2.05%
$ 250,000 1.65%
$ 250,000 2.20%
$ 250,000 1.80%
$ 250,000 2.40%
$ 250,000 2.10%
$ 250,000 175%
$ 250,000 200%
$ 250,000 1.90%
$ 250,000 2.50%
s 1 ,000,000 1.50%
$ 1,000,000 1.36%
$ 1,000 ,000 1.13%
s 1,000,000 1.63%
$ 61 ,666,910
Weighted Return 1.45%
A-4
NOTE:
Malaga Bank -CD
6%
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2020
SUMMARY OF CASH BALANCE BY INSTITUTION
JUNE 2020
Vining Sparks-Treasury
6%
Bank of the West
5%
Vining Sparks -Money Market
2%
State of California-LAIF
54%
(1) LAIF market values will be reported to vary from book value if the City 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 aa:urately reflects all City investments and complies with the investment policy of the City
of Rancho Palos Verdes as approved by the City Council. Furthanmore, I certify that sufficient investment liquidity
and anticipated revenues are available to meet the City's expenditure requirements for the next six months.
Respectfully submitted,
Dated
A-5