CC SR 20210601 D - April 2021 Treasurer Report
CITY COUNCIL MEETING DATE: 06/01/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the April 2021 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the April 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
April 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 $65,436,597, with $33.7 million or 52% of
the total cash balance in the Local Agency Investment Fund (LAIF). The City has over
$6.1 million or 9% 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 Certificates of Deposit (CD)
investments at $16.25 million or 25%, Treasury Bills at $5 million or 8% of the total cash
balance, and a money market account of over $41,000 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 $23.8 million or 36% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $25.6 million or 39% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with
over $2.5 million or 4%, over $1.7 million or 3% in the 1911 Act Fund, over $0.6 million
or 1% in the Habitat Restoration Fund, over $1.1 million or 2% in the Quimby Fund, and
over $9.7 million or 15% in Other Restricted Funds.
The City’s cash balance increased by $1.2 million from last month. In comparison to the
same month of last year, the cash balance in this month increased by $420,000, mainly
attributed to the timing of disbursements for City-approved projects. The major
disbursements for this month included Aleshire & Wynder for legal services, Fire
Grazers for the Fuel Modification By Goats Project, John Hunter for the National
Pollutant Discharge Elimination System (NPDES), Enhanced Watershed Management
Program (EWMP), and Coordinated Integrated Monitor Program (CIMP), Los Angeles
County Sheriff’s Department for law enforcement services, Stay Green for the
Landscape Maintenance Project, and West Coast Arborists for the Tree Trimming and
Maintenance Project. 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 quarter1y.
(2) Electronic Disbursements:
Payroll
Payroll Charges
HSA
Postage
Bank and Merchant F aes
Bank of the Weal
Opetatlng
4,636,513.80
4,774,028.57
(2,52 1,383.85)
(1,033,595.27)
152.51
300,000.00
6 ,155,715 .76
563,526.54
367,736.79
91,800.00
2,500.00
8 ,031.94
1,033,595.27
(3) The net adjustment was due to miscellaneous adjustments.
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2021
Malogo Bank
Non.folegotiable Vining Sporb
Petty CUI! LAIF.crrY CD MoneyMerbt
5,000.00 33,682,670.52 4,252,911 .96 69,599.45
35,511.54 13,742.15
(28,554.00)
5,000.00 33,718,182.06 4,266,654.11 41,045.45
APRIL 2021 CASH BALANCE BY MAJOR FUNDS
1%
Vining Sporb ·-nt TolaiCUh
21,500,000.00 64,146,695.73
4,774,028.57
49,253.69
(2,521,383.85)
(1,033,595.27)
(250,000.00) (278,401.49)
300,000.00
21,250,000.00 65,436,597.38
.GENERAL FUND 36%
• EQUIPMENT REPLACEMENT 4%
.1911ACT3%
CIHABITAT RESTORATION 1%
.QUIMBY2%
II OTHER RESTRICTED FUNDS 15%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restrictad by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
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
MEASUREW
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
22,855,074.20
0.00
25,578,288.79
2,577,615.53
0.00
0.00
28,155,904.32
550 ,461.38
28,998.93
38,058.54
17,817.56
0.00
1,518,168.74
440,864.55
152,074.49
1 '1 03,500.34
1,386,567.63
136,090.30
1,324,077.01
345,072.20
726,110.20
758,671.10
(13,570.51)
244,858.94
0.00
0.00
790,126.45
0.00
0.00
1,204,109.10
223,099.12
864,352.81
243,549.19
0.00
0 .00
0.00
0.00
0.00
0.00
309,755.77
0.00
742,903.37
13,135,717.21
64,146,695.73
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2021
DEBIT CREDIT CASH
6,488,234.73 5,498,737.97 23,&42,570.96
0.00 0.00 0.00
57,951.63 1,024.60 25,635,215.82
5,723.03 408.43 2,582,930.13
0.00 0.00 0.00
0.00 0.00 0.00
63,674.66 1,433.03 28,218,145.95
132,802.39 114,168.93 569,094.84
64.74 0.00 29,063.67
963.99 0.00 39,022.53
15,339.00 2 ,377.50 30,779.06
0.00 0.00 0.00
231,700.18 32,614.69 1,717,254.23
15,887.62 33,047.00 423,705.17
330 .77 4,555.00 147,850.26
61 ,147.40 163.00 1 '164,4&4.74
74,477.57 45,606.17 1,415,439.03
351.83 0.00 136,442.13
47 ,044.99 21,481 .48 1,349,640.52
50,615 .70 71,005.99 324,681.91
1,621.20 46,225.00 681,506.40
1,695.24 5,256 .03 755,110.31
13,577.42 6.91 (0.00)
13,192.49 2,350.62 255,700.81
0.00 0.00 0.00
0.00 0 .00 0.00
5,266 .23 16,914 .55 778,478.13
0.00 0.00 0.00
0.00 0.00 0.00
2,688.44 12,079.00 1,194,718.54
498.12 0.00 223,597.24
9,525.26 0 .00 873,878 .07
571.28 12,319.00 231,801.47
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0.00 0.00
0.00 0 .00 0.00
79,560.50 79,560.50 0.00
0.00 0.00 0.00
691.60 0.00 310,447 .37
0.00 0.00 0.00
21,048 .02 40,767.35 723,184.04
780,661 .98 540,498.72 13,375,880.47
7,330,571.37 6,040,669.72 65,436,597.38
Total Investment: 65,436,597.38
Change In
Ending Cash
Balance
987,496.76
0.00
56,927.03
5,314.60
0.00
0.00
62,241 .63
18,633.46
64.74
963.99
12,961 .50
0.00
199,085.49
(17,159.38
(4,224.23
60,9&4.40
28,871.40
351.83
25,563.51
(20,390.29
(44,603.80
(3,560.79
13,570.51
10,&41.87
0.00
0.00
(11,648.32
0.00
0.00
(9,390.56
498.12
9,525.26
(11,747.72
0.00
0.00
0.00
0 .00
0.00
0.00
691.60
0.00
(19,719.33
240,163.26
1,289,901.65
Change In
Ending Cash
Balance in%
4%
0%
0%
0%
0%
0%
0%
3%
0%
3%
73%
0%
13%
-4%
-3%
6%
2%
0%
2%
-6%
-6%
0%
0%
4%
0%
0%
-1%
0%
0%
-1%
0%
1%
-5%
0%
0%
0%
0%
0%
0%
0%
0%
-3%
2%
2%
A-2
-
Local Aqerv::y Investment Fund (LAIF-{;ITY)
Note(1)
CD -Non-Negotiable
CD -Non-Negotiable
CD-Bank of New Ycwl< -Vining Sparl<s (Non-
Negotiable)
State of Califomia
Malaga Bank
Malaga Bank
Allegiance Bank
Texas
Ally Bank
American Bank Na
La Mars
American Express
Bank FSB
American Express
Centurion
AXOSBank
Bobin
Bank of Deerfield
BankForwwd
HAPOALO 112
12/15125
Bankers Bank
Madison WI
Bankunited
Bar Harbor Bank &
Trust
Barclays Bank
Delaware
Baycoast Bank
Business Bk of St.
Louis
CIT Bank
Capital One Bank
USA
Cathy Bank
Celtic Bank
Continental Bank UT
Crossfirst Bank
Eeglebank
East Boston Savings
Bank
Enerbank USA
Exchange Bank
F a rmers&Merchants
BKNEB
First Bank of
Highland
First Commercial
BankMS
First Finanoal 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
ICBANK
JP Morgan Chase
Bank
LCA Bank Corp
Lakeside Bank
Land marl<
Community Bank
MAGBNC
Malaga Bank FSB
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
APRIL 2021
CUSIN
017480AY2
02007GKW2
024373AZ5
02587CHR4
02587DN38
05465DAK4
06063HMT7
061785EG2
062163BN9
06251A202
06610RAT6
06651901<8
066851WV4
06740KKDB
072727AZ.3
12325EHV7
12556LBB1
14042TBD8
149159NX9
1511BRUX3
211163GYO
22766ABBO
27002YET9
27113PBM2
29266N6P7
301074DF4
30781TBD9
319141GE1
31984GFA2
32021MFC8
32056GCQ1
32110YJT3
33847E2J5
38149MAU7
426336BF9
45581EAF8
46147UUF5
48128UMX4
801798LK6
51210SMD6
51507LBV5
559582AL5
56102AAJ5
Acquiattion
Dale
NJA
212312020
212312020
111312017
712512019
912712019
12/1912017
312112017
312612020
712212020
912512019
1212812019
12/1412020
1212012017
3/512021
612812019
7/1212017
112412020
7/1912017
812312019
712412019
912512019
4/1712020
212312018
6/912017
111712020
112012017
10/1312017
7/1912019
1118/2017
61712017
713112019
212112018
7/1412017
112012017
6/1212019
513112019
112712017
61212017
112712021
913012020
111212018
111312017
812312019
1013012020
512912020
Tonn
NJA
24Mos
24Mos
60Mos
36Mos
36Mo&
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
24Mos
48Mos
60Mos
60Mos
36Mos
36Mos
60Mos
60Mos
60Mos
60Mos
60Mos
54Mos
36Mos
54Mos
60Mos
Maturity
Data
On Demand
212112022
212112022
11/312022
712512022
912712022
1212012021
4/512022
312612024
712212025
312412023
12/1812024
1212512025
1212012021
3/512026
612812021
7/1212022
112412025
7/1912022
212312022
712512022
912412021
4/1712025
812312021
6/912022
1/1712023
112012022
10/1312021
7/1912021
111812022
61712022
713012021
212212022
711412022
112012022
6/1312022
513112022
112712022
6/212022
112712026
913012025
1/1212023
7/1312021
212312022
41301202 5
512912025
MarUI
Valua
s 33,718,182
s 250,000
s 4 ,016,654
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
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
Book
v .....
s 33,718,182 0.34%
s 250,000 1.50%
s 4,016,654 1.40%
s 250,000 2.20%
s 250,000 2.15%
s 250,000 1.65%
s 250,000 2.20%
s 250,000 2.45%
s 250,000 1.65%
s 250,000 0.65%
s 250,000 1.65%
s 250,000 175%
s 250,000 0.50%
s 250,000 2.15%
s 250,000 0.65%
s 250,000 2.10%
$ 250,000 2.20%
s 250,000 1.70%
s 250,000 2.05%
s 250,000 1.95%
s 250,000 2 .10%
s 250,000 175%
s 250,000 1.50%
s 250,000 2.30%
s 250,000 2.05%
s 250,000 1.70%
s 250,000 2.00%
s 250,000 2.00%
$ 250,000 2.05%
s 250,000 2.05%
s 250,000 2 .10%
s 250,000 1.95%
s 250,000 2.45%
s 250,000 2.05%
s 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 0.50%
s 250,000 0.30%
s 250,000 2.35%
s 250,000 1.95%
s 250,000 1.90%
s 250,000 0 .40%
s 250,000 0 . 70%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2021
laauer of Acquiai1ion Maturity M1rket Book
Investment Investment CUSI~ Oat. Tenn Oat. Value Val ue Yield
Marl in Bus iness
Bank 57116ATMO 1/1512020 60Mos 1/15/2025 $ 250,000 $ 250,000 1.75%
Medal I ion Bank Utah 584040FE6 9/1812019 36 Mos 9/19/2022 $ 250,000 $ 250,000 1.70%
Merrick Bank 59013JC23 10/1112017 60 Mos 10/11/2022 $ 250,000 $ 250,000 2.10%
Mid-Missouri Bank 59541KBP1 1/19/2018 60 Mos 1/19/2023 $ 250,000 $ 250,000 2.35%
Morgan Stanley PVT
Bank 61760AZ51 9/19/2019 48Mos 9/1912023 $ 250,000 $ 250,000 1.85%
Northfiled Bank 66612ABX5 10/2512017 60 Mos 10/25/2022 $ 250,000 $ 250,000 2.15%
Peoples United Bank 71270QQJ8 1/1812017 60 Mos 1/18/2022 $ 250,000 $ 250,000 2.05%
Preferred Bank LA 740367MA2 7/1712020 60Mos 7/17/2025 $ 250.000 $ 250 ,000 0.50%
Raymond James
Bank 75472RAN1 1112612019 72 Mos 11/2612024 $ 250,000 $ 250,000 1.85%
Sallie Mae Bank/Salt
Lake 7954504P7 11/16/2019 60Mos 10/16/2024 $ 250,000 $ 250,000 1.90%
Signature Bk
Chicago 82669VBY6 111812017 60 Mos 11/8/2022 $ 250,000 $ 250,000 2.15%
State Bank of India 856285RS2 1112712019 72 Mos 11127/2024 $ 250,000 $ 250,000 205%
Sterling Bank POP
BLMO 85916VDN2 9/1812019 48 Mos 9/1812023 $ 250,000 $ 250,000 1.65%
Summit Community
Bank 86604XML7 112612018 30Mos 7/2612021 $ 250,000 $ 250,000 2 .20%
Synchrony Bank 87165HRY8 61212017 60 Mos 6/2/2022 $ 250,000 $ 250,000 2.40%
BKCROW B8241T JJO 1012312020 60 Mos 10/23/2025 $ 250,000 $ 250,000 0.60%
Texas Exchange
Bank B8241TJN1 11/2512020 60Mos 1112512025 $ 250,000 $ 250 ,000 0.60%
Texas Exchange
Bank 88241TJR2 12/1812020 60 Mos 12/18/2025 $ 250,000 $ 250,000 0.60%
Third Fed Sav&Ln
Clevland B8413QBU1 11124/2017 48 Mos 11/2412021 $ 250,000 $ 250,000 2.10%
Vision Bank of Iowa 92834CCL4 1112912019 72 Mos 1112912024 $ 250,000 $ 250,000 1.75%
Wells Fargo Nat' I
Bank West 949495AQ8 1/1712020 36 Mos 1/17/2023 $ 250,000 $ 250,000 1.90%
Wells Fargo Bank 949763D45 6/10/2019 36 Mos 6/10/2022 $ 250,000 $ 250,000 2.50%
Treasury-Bank of New York(Vining Sparks) United States Treas 912828S35 9/1212019 45Mos 6/3012023 $ 1,000 ,000 $ 1,000,000 1.38%
United States Treas 912828S76 7131/2018 36Mos 7/3112021 $ 1,000,000 $ 1,000,000 113%
United States Treas 912828XZ8 6/3012020 SOMes 6/3012025 $ 1,000,000 $ 1,000,000 2.75%
United States Treas 91282CBC4 111212021 60 Mos 12/31/2025 $ 2,000,000 $ 2,000 ,000 0.38%
Total Investment $ 59 ,234 ,836
Summary : Weighted Return 0.93%
Local Agency Investment Fund (LAIF-CITY) 33,718,182.06
Cert ificate of Deposit -Malaga Bank 250,000.00
Certificate of Deposit -Malaga Bank 4,016,654.11
Certificate of Deposit -Vining Sparks 16,250,000.00
Treasury Bills-Vining Sparks 5,000,000 .00
Total Investment 59 ,234,836. 17
A-4
NOTE:
Malaga Bank-CD
6%
CITY OF RANCHO PALOS VERDES
MONTHL Y TREASURER'S REPORT
APRIL2021
SUMMARY OF CASH BALANCE BY I NSTITUTION
MARCH 2021
Vining Sparks -Treasury
8%
Bank ofthe West
9%
Vining Sparks -Money Market
()')(,
State of California -LAIF
52%
(1) LAIF marl<et values will be raported to vary from book value if the City calculated shara of total LAIF assats is less than the City book value.
To the best of my knowiedge, there are no misstatements of material amounts within this report;
or omissions of meterial amounts to causa the raport to be misleading.
I certify the! this raport 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 that sufficient investment liquidity
and anticipated revenues ara available to meet the City's expenditura requirements for the next six months.
Respectfully submitted,
Dated
A-5