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CC SR 20210504 D - Mar 2021 Treasurer Report CITY COUNCIL MEETING DATE: 05/04/2021 AGENDA REPORT AGENDA HEADING: Consent Calendar AGENDA TITLE: Consideration and possible action to receive and file the March 2021 Cash Balances/Monthly Treasurer’s Report. RECOMMENDED COUNCIL ACTION: (1) Receive and file the March 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 March 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 $64,146,696, with $33.6 million or 52% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has over $4.6 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 $16.5 million or 26%, Treasury Bills at $5 million or 8% of the total cash balance, and a money market account of over $69,000 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 $22.8 million or 36% in the cash balance, and the Capital Improvement Projects (CIP) Fund has over $25.5 million or 40% in cash balance. The remaining cash balances are in the Equipment Replacement Fund with over $2.5 million or 4%, over $1.5 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 $9.6 million or 15% in Other Restricted Funds. The City’s cash balance decreased by $0.6 million from last month. In comparison to the same month of last year, the cash balance in this month increased by $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, American Asphalt and Hardy & Harper for the Residential Rehab Area 3 and 4 Project, Palos Verdes Peninsula Transit Authority for the City’s semi-annual contribution, the Los Angeles County Sheriff’s Department for law enforcement services, and McCain, Inc. for the Traffic Signal Poles Project. All expenditures were disbursed in accordance with the Fiscal Year 2020-2021 budget. 2 A-1 BEGINNING BALANCE PLUS: DEPOSITS PLUS: INTEREST EARNINGS(1) LESS: CHECK DISBURSEMENTS LESS: ELECTRONIC DISBURSEMENTS(2) AOJUSTMENTS(3) PLUS: TRANSFERS IN LESS: TRANSFERS OUT ENDING BALANCE (1) All LAIF interest is paid quarterly. (2) Electronic Disbursements: Payroll Payroll Charges EDD Unemployment Benk and Mert:hant Fees Bank ollhe Weal ap.nting 5,093,922.414 1,980,365.61 (2,058,997.31) (622,467.64) (6,309.30) 250,000.00 4 ,636,513.80 370,234.10 239,863.81 3 ,852.04 8 ,717.69 622,467.64 (3) The net adjustment was due to miscellaneous adjustments. CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MARCH 2021 Maloga Bank Non-Nov<>tlable Vining Sparb "-tty Cosh LAIF-CITY CD MonayMarbt 5,000.00 33,682,670.52 4,252,911 .96 298,233.1 0 21 ,366.35 (250,000.00) 5 ,000.00 33,682,670.52 4,252,911 .96 69,599.45 MARCH 2021 CASH BALANCE BY MAJOR FUNDS 1% Vining Sparb Y1D lnl ·-Tolai Cnh -21 .500,000.00 64,832,738.02 1,980,365.61 207,094.28 (2,058,997.31) (622,467.64) 15,057.05 250,000.00 (250,000.00) 21 ,500,000.00 64,146,695.73 207,094.28 .GENERAL FUND 36% .EQUIPMENT REPLACEMENT 4% .1911 ACT 2% DHABITAT RESTORATION 1% .QUIMBY2% a OTHER RESTRICTED FUNDS 15% A-2 CASH BALANCES BY FUND Unrestricted GENERAL FUND Restricted by_ Council Action BEAUTIFICATION FUND CIP EQUIPMENT REPLACEMENT BUILDING REPLACEMENT EMPLOYEE BENEFITS Sublolal Restricted by Law 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 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 MEASUREW WATER QUALITY FLOOD PROTECTION REDEVELOPMENT OBLIGATION RETIRE IMPROVEMENT DISTRICT 9 SPECIAL T RUSTS Subtotal GRAND TOTAL BALANCE FORWARD 22,&49,475.18 0 .00 26,076,352.01 2 ,556,068.78 0.00 0 .00 28,632,420.79 452,130.01 28,998.93 38,042.69 21 ,601 .56 0 .00 1,654,655.45 421 ,961 .88 143,911 .93 988,343 .81 1,708,451 .22 168,590.30 1,266,347.23 278,259.03 726,110.20 759,001 .30 11 ,429.49 249,078.00 0 .00 0.00 792,781 .19 0.00 0.00 1,204,109.10 223,099.12 864,352.81 255,868.19 0 .00 0 .00 0 .00 0 .00 0 .00 0 .00 309,755.77 0.00 783,962.84 13,350,&42.05 64,832,738.02 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MARCH 2021 DEBIT CREDIT CASH 4 ,160,944.63 4,155,345.61 22,855,074 .20 0.00 0 .00 0.00 0.00 498,063.22 25,578 ,288.79 23,400.00 1,853.25 2,577 ,615.53 0.00 0 .00 0 .00 0.00 0.00 0.00 23,400.00 499,916.47 28,155,904.32 179,608.04 81 ,276.67 550 ,461 .38 0.00 0 .00 28,998.93 15.85 0.00 38,058.54 2,186.00 5,970.00 17,817 .56 0.00 0 .00 0 .00 4,073.42 140,560.13 1,518 ,168.74 34 ,380.20 15,477.53 440,864.55 12,717.56 4 ,555.00 152,074.49 115,238.03 81 .50 1,103,500 .34 67 ,992.06 389 ,875 .65 1,386,567 .63 0.00 32,500.00 136,090.30 86 ,387.41 28,657.63 1,324,077.01 97,394.58 30,581 .41 345,072.20 0.00 0 .00 726,110.20 2 ,500.00 2 ,830.20 758 ,671 .10 0.00 25,000.00 (13 ,570.51) 0.00 4,219.06 244 ,858 .94 0.00 0 .00 0 .00 0.00 0 .00 0.00 0.00 2 ,654.74 790,126.45 0.00 0.00 0.00 157,425.31 157,425.31 0.00 0.00 0.00 1,204 ,109.10 0.00 0.00 223,099.12 0.00 0 .00 864,352.81 0.00 12,3 19.00 243,549 .19 0.00 0 .00 0.00 511 .00 511.00 0 .00 0.00 0 .00 0 .00 0.00 0 .00 0 .00 26,076.39 26,076.39 0 .00 0.00 0 .00 0 .00 0.00 0 .00 309 ,755.77 0.00 0 .00 0 .00 33,411 .75 74,471 .22 742,903.37 819,917.60 1,035,042.44 13,135,717.21 5,004,262.23 5,690,304.52 64,146,695.73 Totallnveatment: 64,146,695.73 Change In Ending Cash Balance 5,599.02 0 .00 (498,063.22 21 ,546.75 0 .00 0 .00 {476,516.47)_ 98,331 .37 0 .00 15.85 (3,784.00) 0 .00 (136,486. 7 1) 18,902.67 8,162.56 115,156.53 (321 ,883.59) (32,500.00) 57,729.78 66,813.17 0.00 (330.20) (25,000.00) (4,219.06) 0.00 0 .00 (2,654 .74) 0.00 0 .00 0 .00 0 .00 0 .00 (12,319.00) 0 .00 0 .00 0 .00 0 .00 0 .00 0 .00 0 .00 0 .00 (41 ,059.47 (215,124.&4 (686,042.29 Change In Ending Cash Balance in % 0% 0% -2% 1% 0% 0% -2% 22% 0% 0% -18% 0% -8% 4% 6% 12% -19% -19% 5% 24% 0% 0% -219% -2% 0% 0% 0% 0% 0% 0% 0% 0% -5% 0% 0% 0% 0% 0% 0% 0% 0% -5% -2% -1% A-3 Local Pqerw:;y Investment Fund (LAIF-CITY) Note (1) CD -Non-Negotiable CD -Non-Negotiable CD-Benk d New York -Vining Spar1<s (Non- Negotiable) -of 1......-t State d CeiWomia Malaga Bank Malaga Bank Allegiance Bank Texas Ally Bank American Bank Na La Mars American E>cprass Bank FSB American Express Centurion AXOSBank Bobin Bank d Oee!field Bank Forward HAPOAL 0112 12/15125 Bankers Bank Madison WI Bankunited Bar Harbor Bank & Trust Barclays Bank Delaware Baycoast Bank Business Bk d St. Louis CIT Bank Capital One Bank USA Cathy Bank Cettic Bank Continental Bank UT Crossfirst Bank Eaglebank East Boston Savings Bank Enerbank USA Exchange Bank Farrners&Merchants BK N EB First Bankd Highland First Commercial BankMS First Financial Bank First Internet Bank d In First National Bank dAmerica Flagstar Bank Goldman Sachs Bank USA Henry County Bank OH lndustriai&Corn Bank China ICBANK JP Morgan Chase Bank LCA Bank Corp Lakeside Bank Landmark Community Bank MAGBNC Malaga Bank FSB CITY OF RANCHO PALOS VERDES MONTHLY INVESTMENT REPORT MARCH 2021 CUSII't 01748DAY2 02007GKW2 024373AZ5 02587CHR4 02587DN38 05465DAK4 06063HMTI 061785EG2 062163BN9 06251A202 06610RAT6 066519QK8 066851WV4 06740KKD8 072727A23 12325EHV7 12556LBB1 14042TBD8 149159NX9 15118RUX3 211163GYO 22766ABBO 27002YET9 27113PBM2 29266N6P7 301074DF4 30781TBD9 319141GE1 31984GFA2 32021MFC8 32056GCQ1 32110YJT3 33847E2J5 38149MAU7 426336BF9 45581EAF8 46147UUF5 48128UMX4 801798LK6 51210SMD6 51507LBV5 559582AL5 56102AAJ5 N/A 212312020 212312020 11/312017 712512019 912712019 12/1912017 312112017 312612020 712212020 912512019 1212812019 12/1412020 1212012017 31512021 612812019 7/1212017 112412020 7/1912017 812312019 712412019 912512019 4/1712020 212312018 6/912017 1/1712020 112012017 1011312017 7/1912019 1/1812017 61712017 713112019 212112018 7/1412017 112012017 611212019 5/3112019 1/2712017 61212017 112712021 9/3012020 111212018 1/1312017 812312019 10/3012020 512912020 N/A 24Mos 24Mos 60Mos 36Mos 36Mos 48Mos 60Mos 48Mos 60Mos 42Mos 60Mos 60Mos 48Mos 60Mos 24Mos 60Mos 60Mos 60Mos 30Mos 36Mos 24Mos 60Mos 36Mos 60Mos 36Mos 60Mos 48Mos 24Mos 60Mos 60Mos 24 Mos 48Mos 60Mos 60Mos 36Mos 36Mos 60Mos 60Mos 60Mos 60Mos 60Mos 54Mos 36Mos 54Mos 60Mos Maturity Date On Demand 212112022 212112022 11/312022 712512022 912712022 1212012021 4/512022 3126/2024 712212025 312412023 12/1812024 1212512025 1212012021 31512026 612812021 7/1212022 112412025 7/1912022 212312022 712512022 912412021 4/1712025 812312021 619/2022 1/1712023 112012022 1011312021 711912021 1/1812022 61712022 713012021 212212022 7/1412022 112012022 611312022 5/3112022 112712022 61212022 112712026 9/3012025 1/1212023 711312021 212312022 4/3012025 5/2912025 Marl<et Value $ 33,682,671 s 250,000 s 4,002,912 $ $ $ $ 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 Book v .... $ 33,682,671 0 .36'11. $ 250,000 1.50'Mo $ 4,002,912 1.40'Mo $ 250,000 2 .20% $ 250,000 2.15'11. $ 250,000 1 .65'11. $ 250,000 2.20% $ 250,000 2.45'11. $ 250,000 1 65'11. $ 250,000 0 .65'11. $ 250,000 1 .65'11. s 250,000 1.75'11. $ 250,000 O.SO'Mo s 250,000 2 .15'11. s 250,000 0 .65'11. $ 250,000 2 .10% $ 250,000 2 .20% $ 250,000 1.70% $ 250,000 2.05'11. $ 250,000 1.95'11. $ 250,000 2.10% s 250,000 1.75'11. $ 250,000 1.50'Mo $ 250,000 2.30'% $ 250,000 2 .05'11. s 250,000 1.70% $ 250,000 2 00% $ 250,000 2.00% $ 250,000 2.05'11. $ 250,000 2.05'11. $ 250,000 2.10% s 250,000 1.95'11. $ 250,000 2.45'11. $ 250,000 2 .05'11. $ 250,000 2.00% $ 250,000 2.50'Mo $ 250,000 2.50'Mo $ 250,000 1.90'Mo $ 250,000 2 .05'11. $ 250,000 O.SO'Mo $ 250,000 0.30'% $ 250,000 2.35'11. $ 250,000 1.95'11. $ 250,000 1.90'Mo $ 250,000 0.40'Mo $ 250,000 0.70% A-4 lnveetment Treasury-Bank of New Yori<(Vining Sparl<s) Summary: Local Agency Investment Fund (LAIF-CITY) Certificate of Deposit -Malaga Bank Certificate of Deposit -Malaga Bank Certificate of Deposit -Vining Sparl<s Treasury Bills -Vining Sparl<s Tota l Investment Marlin Business Bank Medallion Bank Utah Merrick Bank Mid-M issouri 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 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' I Bank West Wells Fargo Bank United States Treas United States T reas United States Treas United States Treas 33,682,670.52 250,000.00 4 ,002,91 1.96 16,500,000.00 5,000,000.00 59,435,582.46 CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MARCH 2021 CUSIPCI 57116ATMO 56404DFE6 59013JC23 59541KBP1 617SOAZ51 66612ABX5 71270QQJ6 740367MA2 75472RAN1 7954504P7 62669VBY6 643679BB2 656265RS2 65916VDN2 86604XML7 67165HRY6 66241TJJO 66241T JN1 66241TJR2 66413QBU1 92634CCL4 949495AQ6 949763D45 912626S35 912626S76 912626XZ6 91262CBC4 Acquilrtion Dote 1115/2020 9/16/2019 10/11/2017 1/19/2016 9/19/2019 10/25/2017 1/16/2017 7/17/2020 11126/2019 11116/2019 11/6/2017 12/20/201 7 11127/2019 9116/2019 1/26/2016 612/2017 10/2312020 11/25/2020 12/16/2020 11/24/2017 11/29/2019 111712020 6/1012019 9/12/2019 7/31 /2016 6/30/2020 1/12/2021 Term SOMes 36 Mos SO Mos 60 Mos 46Mos 60 Mos SO Mos SOMes 72 Mos SOMes SOMes 40 Mos 72 Mos 46Mos 30 Mos SO Mos SOMes 60 Mos 60 Mos 46Mos 72 Mos 36Mos 36Mos 45 Mos 36 Mos 60 Mos so Mos MoturUy o .... 1/15/2025 9/19/2022 10/11/2022 1/19/2023 9/19/2023 10/25/2022 1/16/2022 7/17/2025 11/26/2024 10/16/2024 11/6/2022 4/20/2021 11/27/2024 9/16/2023 7/26/2021 61212022 1012312025 11/25/2025 12/16/2025 11124/2021 11129/2024 1117/2023 6/10/2022 6130/2023 7/31/202 1 6/30/2025 12/31/2025 Total Investment $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ M1rttet 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 2 50,000 250,000 250,000 250,000 1,000,000 $ 1,000,000 $ 1,000,000 $ 2,000,000 Book Value Yiold $ 250,000 175% $ 250,000 1.70% $ 250,000 2.10% $ 250,000 2.35% $ 250,000 1.65% $ 250,000 2.15% $ 250,000 2.05% $ 250,000 0.50% $ 250,000 1.65% $ 250,000 1. 90% $ 250,000 2.15% $ 250,000 2.00% $ 250,000 2.05% $ 250,000 165% $ 250,000 2.20'k $ 250,000 2.40% $ 250,000 O.SO% $ 250,000 O.SO% $ 250,000 OSO% $ 250,000 2.10% $ 250,000 1.75% $ 250,000 1.90% $ 250,000 2.50% $ 1,000,000 1.36% $ 1,000,000 1.13% $ 1,000,000 2.75% $ 2,000,000 0.36% $ 59,435,582 Weighted Return 0.94% A-5 NOTE: Malaga Bank -CD 7% CITY OF RANCHO PALOS VERDES MONTHLY TREASURER'S REPORT MRCH 2021 SUMMARY OF CASH BALA NCE BY I NSTITUTION MARCH 2021 Bank of the West 7% Vining Sparks-Money Market 0% State of california -LAIF 52% (1) LAIF markel 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 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 thel sufficient investment liquidity and anticipated revenues are available to meet the City's expenditure requirements lor the next six months. Respectfully submitted, Dated