CC SR 20210706 D - City May Treasurer Report
CITY COUNCIL MEETING DATE: 07/06/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the May 2021 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the May 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
May 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 $68,941,875, with $38.2 million or 55% of
the total cash balance in the Local Agency Investment Fund (LAIF). The City has over
$4.8 million or 7% 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 24%, Treasury Bills at $5 million or 7% of the total cash balance, and
a money market account of over $312,000 or less than 1% with Vining Sparks, our
investment brokerage firm. The balance of $312,000 in the money market account was
reserved for a new CD purchase of $250,000 on June 4. 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
CITYOF RANCHO PALOS VERDES
:?L
In summary, the City’s General Fund has over $27.2 million or 39% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $25.5 million or 37% 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
$9.8 million or 14% in Other Restricted Funds.
The City’s cash balance increased by $3.5 million from last month. In comparison to the
same month of last year, the cash balance in this month increased by $3 million, mainly
attributed to the timing of disbursements for City-approved projects. The major
disbursements for this month included Fire Grazers for the Fuel Modification By Goats
Project, Hardy & Harper for the Portuguese Landslide Repair 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
A-1
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS:TRANSFERSIN
LESS : TRANSFERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quartetly .
(2) Electronic Disbursements:
Payroll
Payroll Charges
Petty Cash
Bank end Merchant Fees
Banll °' the WHt
Opentlng
6 ,1 55,715.76
5 ,378,371 .82
(1,260,395.51)
(638,713.40)
4,383.38
(4,750,CXXl.00)
4,889,362.05
378,815.67
242,522.62
290.00
17,085.11
638,713.40
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2021
Malaga Bank
Non-Negotiable V'ming Sparb
l'wttyC.ah LAIF~ CD
.. _ .. __
5 ,CXXl.00 33,718,182.06 4,266,654.11 41 ,045.45
2 1,631 .71
4,500,CXXl.OO 250,CXXl.OO
5 ,CXXl .00 38,218, 182,06 4 ,266,654 .11 312,677.16
(3) The net adjustment was due to a void chad< and miscellaneous adjustments.
MAY 2021 CASH BALANCE BY MAJOR FUNDS
1%
Vining Sparb
In-Total C.ah
21 ,250,CXXl .OO 65,436,597.38
5 ,378 ,371 .82
(1 ,260,395.51)
(638,713.40)
26,015.09
4, 750,CXXl.OO
(4,750,CXXl .00)
21 ,250,CXXl .OO 68,941 ,875.38
■GENERAL FUND 39%
■CIP37%
■ EQUIPMENT REPLACEMENT 4%
■1911ACT3%
CHABITAT RESTORATION 1%
■QUIMBY2%
■OTHER RESTRICTED FUNDS 14%
A-2
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
Restricted by Law or External Aaencies
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
HAB ITAT 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
23,842,570.96
0 .00
25 ,635,215 .82
2,582,930.13
0 .00
0 .00
28,218,145.95
569,094 .84
29,063 .67
39,022 .53
30 ,779.06
0 .00
1,7 17 ,254 .23
423,705 .17
147,850 .26
1,164,484 .74
1,415,439.03
136,442 .13
1,349 ,640.52
324 ,681 .91
681 ,506.40
755 ,110.31
(0.00)
255,700.81
0 .00
0 .00
778.478 .13
0 .00
0 .00
1,194,718.54
223 ,597 .24
873 ,878 .07
231 ,801 .47
0 .00
0 .00
0 .00
0 .00
0 .00
0 .00
310 ,447 .37
0 .00
723,184 .04
13,375,880.47
65,436,597 .38
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2021
DEBIT CREDIT CASH
10,901,343.30 7,507,428.92 27 ,236,485 .34
0.00 0.00 0.00
0 .00 43,494 .50 25 ,591 ,721 .32
0 .00 448 .93 2 ,582 ,481 .20
0 .00 0 .00 0 .00
0 .00 0.00 0 .00
0.00 43,943.43 28,174,202.52
63,460 .35 40 ,973 .90 591 ,581 .29
0 .00 0 .00 29 ,063.67
340 .76 0 .00 39 ,363 .29
0.00 12,092 .50 18,686 .56
0 .00 0 .00 0 .00
90 ,308 .49 31 ,661 .24 1,775,901 .48
5,111 .01 28 ,626 .06 400 ,190.12
0 .00 4 ,555 .00 143,295.26
61 ,534 .96 41 ,803 .35 1,184 ,216.35
74 ,185.68 2 ,590 .65 1,487 ,034.06
0 .00 0 .00 136 ,442 .13
46,212 .29 20 ,610 .00 1,375 ,242.81
0.00 10,638 .1 4 314 ,043 .77
0.00 14,943 .00 666,563 .40
0 .00 1,409.00 753 ,701 .31
0 .00 0 .00 (0 .00)
5,310 .76 6 ,302 .70 254 ,708 .87
0.00 0 .00 0 .00
0.00 0 .00 0 .00
0 .00 0 .00 778 ,478.13
5 ,992 .23 5,992 .23 0.00
0 .00 0.00 0.00
0.00 0 .00 1,194 ,718 .54
0 .00 0 .00 223 ,597 .24
0 .00 0 .00 873,878 .07
3 ,902 .00 12,550 .00 223,153.47
0.00 0 .00 0 .00
0.00 0.00 0 .00
82,567.75 82 ,567 .75 0.00
0 .00 0.00 0 .00
0 .00 0.00 0 .00
0 .00 0 .00 0 .00
0 .00 0.00 310 ,447 .37
0 .00 0.00 0.00
47,096.95 13,400 .66 756 ,880 .33
488,023 .23 330,716.18 13,531,187.52
11,387,366.53 7 ,882,088.53 68,941 ,875.38
Total Investment: 68 ,941 ,875 .38
Change In
Ending Cash
Balance
3,393 ,914.38
0.00
(43,494.50
(448.93)
0.00
0.00
(43,943 .43
22 ,486.45
0 .00
340 .76
(12 ,092 .50
0 .00
58 ,647 .25
(23 ,515 .05
(4 ,555 .00
19,731 .61
71 ,595 .03
0 .00
25,602 .29
(10 ,638.14
(14 ,943.00
(1,409.00)
0 .00
(991 .94)
0 .00
0 .00
0 .00
0 .00
0 .00
0 .00
0 .00
0 .00
(8 ,648 .00
0 .00
0 .00
0 .00
0 .00
0 .00
0 .00
0 .00
0 .00
33,696.29
155,307.05
3,505,278 .00
Change In
Ending Cash
Balance in %
14%
0%
0%
0%
0%
0%
0%
4%
0%
1%
-39%
0%
3%
-6%
-3%
2%
5%
0%
2%
-3%
-2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
-4%
0%
0%
0%
0%
0%
0%
0%
0%
5%
1%
5%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
MAY 2021
1u-o1 Acqulslllon Maturity M ■rttet Book ,,, __
lnvHbMnt CUSIN Data Tann Data Vat... Value Ylald
Local Agency Investment Fund (LAIF-CITY) State of California NIA N/A On Demand $ 38,218,182 $ 38,218, 182 0.32%
Note(1)
CD -Non-Negotiable Malaga Bank 2/23/2020 24Mos 2/21/2022 $ 250,000 $ 250,000 1.50%
CD -Non-Negotiable Malaga Bank 2/23/2020 24Mos 2/21/2022 $ 4,016,65<1 s 4,016,654 1.40%
CD -Bank of New Yori< -Vining Sparks (Noo-Allegiance Bank
Negotiable) Texas 01748DAY2 11/3/2017 60Mos 11/3/2022 s 250,000 $ 250,000 2.20%
Ally Bank 02007GKW2 7/2512019 36Mos 7/2512022 $ 250,000 $ 250,000 2.15%
American Bank Na
Le Mars 024373AZ5 9/27/2019 36Mos 9/27/2022 s 250,000 s 250,000 1.65%
American Express
Bank FSB 02587CHR4 12/19/2017 48Mos 12/20/2021 $ 250,000 s 250,000 2.20%
American Express
Centurion 02587DN38 3/21/2017 60Mos 41512022 $ 250,000 s 250,000 2.45%
AXOS Bank 054650AK4 3/26/2020 48Mos 3/2612024 $ 250,000 s 250,000 1.65%
Sobin 06063HMT7 7/22J2020 60Mos 7/22/2025 s 250,000 s 250,000 0.65%
Bank of Deerfield 061785EG2 9/25/2019 42Mos 3/24/2023 s 250,000 $ 250,000 1.65%
Bank Forwaro 062163BN9 12/28/2019 60Mos 12/18/2024 s 250,000 $ 250,000 1.75%
HAPOAL 0 1/2
12/15125 06251A2Q2 12/14/2020 60Mos 12/2512025 $ 250,000 $ 250,000 0.50%
Bankers Bank
Madison WI 06610RAT6 12/20/2017 48Mos 12/20/2021 $ 250,000 $ 250,000 2.15%
Bankunijed 06651901<8 3/512021 60Mos 3/512026 $ 250,000 $ 250,000 0.65%
Bar Harbor Bank &
Trust 066851WV4 6/28/2019 24Mos 6128/2021 s 250,000 $ 250,000 2.10%
Barclays Bank
Delaware 06740KKD8 7/12/2017 60Mos 7/12/2022 s 250,000 $ 250,000 2.20%
Bayooast Bank 072727AZ3 1/24/2020 60Mos 1/24/2025 $ 250,000 $ 250,000 1.70%
Business Bk of St.
Louis 12325EHV7 7/19/2017 60Mos 7/19/2022 s 250,000 $ 250,000 2.05%
CIT Bank 12556LBB1 8/23/2019 30Mos 2/23/2022 $ 250,000 s 250,000 1.95%
Capital One Bank
USA 14042TBD8 7/24/2019 36Mos 7/25/2022 $ 250,000 $ 250,000 2.10%
Cathy Bank 149159NX9 9/2512019 24Mos 9/24/2021 s 250,000 $ 250,000 1.75%
Celtic Bank 15118RUX3 4117/2020 60Mos 4117/2025 $ 250,000 $ 250,000 1.50%
Continental Bank UT 211163GY0 2/23/2018 36Mos 8/23/2021 $ 250,000 $ 250,000 2.30%
Crossfirst Bank 22766ABB0 6/9/2017 60Mos 6/9/2022 s 250,000 s 250,000 2.05%
Eaglebank 27002YET9 1/17/2020 36Mos 1/17/2023 $ 250,000 $ 250,000 1.70%
East Boston Savings
Bank 27113PBM2 1/20/2017 60 Mos 1/20/2022 s 250,000 $ 250,000 2.00%
Enert>ank USA 29266N6P7 10/13/2017 48Mos 10/13/2021 $ 250,000 s 250,000 2.00%
Exchange Bank 301074DF4 7/19/2019 24Mos 7/19/2021 s 250,000 $ 250,000 2.05%
F armers&Merchants
BK NEB 30781TBD9 1/18/2017 60 Mos 1/18/2022 $ 250,000 s 250,000 2 .05%
First Bank of
Highland 319141GE1 6/7/2017 60 Mos 6/7/2022 $ 250,000 $ 250,000 2.10%
First Commercial
Bank MS 31984GFA2 7/31/2019 24Mos 7/30/2021 $ 250,000 $ 250,000 1.95%
First Financial Bank 32021MFC8 2/21/2018 48 Mos 2/22/2022 $ 250,000 $ 250,000 2.45%
First Internet Bank of
In 32056GCQ1 7/14/2017 60Mos 7/14/2022 $ 250,000 $ 250,000 2.05%
First National Bank
of America 32110YJT3 1/20/2017 60Mos 1/20/2022 $ 250,000 $ 250,000 2 .00%
Flagstar Bank 33847E2J5 6/12/2019 36Mos 6/13/2022 s 250,000 $ 250,000 2.50%
Goldman Sachs
Bank USA 38149MAU7 5/31/2019 36Mos 5/31/2022 $ 250,000 $ 250,000 2.50%
Henry County Bank
OH 426336BF9 1/27/2017 60Mos 1/27/2022 $ 250,000 $ 250,000 1.90%
lndustrial&Com Bank
China 45581EAF8 6/2/2017 60Mos 6/2/2022 $ 250,000 $ 250,000 2.05%
ICBANK 46147UUF5 1/27/2021 60Mos 1/27/2026 s 250,000 s 250,000 0.50%
JP Morgen Chase
Bank 48128UMX4 9/30/2020 60Mos 9/30/2025 $ 250,000 $ 250,000 0.30%
LCA Bank Corp 801798LK6 1/12/2018 60Mos 1/12/2023 s 250,000 s 250,000 2.35%
Lakeside Bank 51210SMD6 1/13/2017 54Mos 7/13/2021 s 250,000 s 250,000 1.95%
Landmark
Commun~ Bank 51507LBV5 8/23/2019 36Mos 2/23/2022 $ 250,000 $ 250,000 1.90%
MAGBNC 559582AL5 10/30/2020 54Mos 4/30/2025 $ 250,000 s 250,000 0.40%
Malaga Bank FSB 56102AAJ5 5/29/2020 60Mos 5/29/2025 s 250,000 s 250,000 0.70%
A-4
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2021
lu-of Acqulaltlon M ■tur1ty M■rk■t Book --l"""1menl CUSIPt D■t■ Term Data V■lw Value Yl■ld
Marlin Business
Baik 57116ATM0 1/15/2020 60Mos 1/15/2025 s 250,000 s 250,000 1.75%
Medallion Bank Utah 58404DFE6 9/18/2019 36Mos 9/19/2022 s 250,000 s 250,000 1.70%
Merrick Bank 59013JC23 10/11/2017 60Mos 10/11/2022 s 250,000 s 250,000 2.10%
Mid-Missouri Bank 59541KBP1 1/19/2018 60Mos 1/19/2023 s 250,000 s 250,000 2 .35%
Morgan Stanley PVT
Baik 61760AZ51 9/19/2019 48Mos 9/19/2023 s 250,000 s 250,000 1.85%
Northfiled Bank 66612ABX5 10/25/2017 60Mos 10/25/2022 $ 250,000 $ 250,000 2 .15%
Peoples United Bank 71270QQJ8 1/18/2017 60Mos 1/18/2022 $ 250,000 s 250,000 2.05%
Preferred Bank LA 740367MA2 7/17/2020 60Mos 7/17/2025 $ 250,000 $ 250,000 0.50%
Raymond James
Bank 75472RAN1 11/26/2019 72Mos 11/26/2024 $ 250,000 s 250,000 1.85%
Sallie Mae Bank/Salt
Lake 7954504P7 11/16/2019 60Mos 10/16/2024 s 250,000 s 250,000 1.90%
Signature Bk
Chicago 82669VBY6 11/8/2017 60Mos 11/8/2022 $ 250,000 $ 250,000 2.15%
State Bank of India 856285RS2 11/27/2019 72Mos 11/27/2024 $ 250,000 s 250,000 2 .05%
Sterling Bank POP
BLMO 85916VDN2 9/18/2019 48Mos 9/18/2023 s 250,000 $ 250,000 1.65%
Summit Community
Bank 86604XML7 1/26/2018 30Mos 7/26/2021 $ 250,000 $ 250,000 2 .20%
Synchrony Bank 87165HRY8 6/2/2017 60Mos 6/2/2022 $ 250,000 $ 250,000 2 .40%
BKCROW 88241TJJ0 10/23/2020 60Mos 10/23/2025 $ 250,000 $ 250,000 0.60%
Texas Exchange
Bank 88241TJN1 11/25/2020 60Mos 11/25/2025 $ 250,000 $ 250,000 0 .60%
Texas Exchange
Bank 88241TJR2 12/18/2020 60Mos 12/18/2025 $ 250,000 s 250,000 0 .60%
Third Fed Sav&Ln
Clevland 88413QBU1 11/24/2017 48Mos 11/24/2021 $ 250,000 $ 250,000 2.10%
Vision Bank of Iowa 92834CCL4 11/29/2019 72Mos 11129/2024 $ 250,000 $ 250,000 1.75%
Wells Fargo Nat'I
Bank West 949495AQ8 1/17/2020 36Mos 1/17/2023 $ 250,000 $ 250,000 1.90%
Wells Fargo Bank 949763045 6/10/2019 36Mos 6/10/2022 s 250,000 $ 250,000 2 .50%
Treasury-Ban k of New York(Vining Sparks) United States Treas 912828S35 9/12/2019 45Mos 6/30/2023 $ 1,000,000 $ 1,000,000 1.38%
United Slates Treas 912828576 7/31/2018 36Mos 7/31/2021 $ 1,000,000 $ 1,000,000 1.13%
United States Treas 912828XZ8 6/30/2020 60Mos 6/30/2025 $ 1,000,000 s 1,000,000 2.75%
United Slates Treas 91282CBC4 1/12/2021 60Mos 12/3112025 $ 2,000,000 $ 2,000,000 0 .38%
Tola! Investment $ 63,734,836
Summary: Weighted Ratum 0.88%
Local Agency Investment Fund (LAIF-CITY) 38,218,182.06
Certificate of Deposit -Malaga Bank 250,000.00
Certifocata of Deposit -Malaga Bank 4,016,654.11
Certif,cate of Deposit -Vining Sparks 16,250,000.00
Treasury Bills -Vining Sparks 5 ,000,000.00
Total Investment 63,734,836.17
A-5
Malaga Bank • CD
I 6%
NOTE :
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY2021
SUMMARY OF CASH BALANCE BY INSTITUTION
MAY 2021
Vini ng Sparks -Treasury
7%
Ban k of the West
7%
Vini ng Spa rks -M oney Market
1%
State of california -LAIF
55%
(1) LAIF marl<et 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 knowtedge , 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 end complies with the investment policy of the City
of Rancho Palos Verdes as approved by the City Council. Furthennore, 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,