CC SR 20210803 D - June Treasury Report
CITY COUNCIL MEETING DATE: 08/03/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the June 2021 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the June 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
June 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 $67,478,966, with $39.2 million or 58% of
the total cash balance in the Local Agency Investment Fund (LAIF). The City has over
$2.4 million or 4% 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 $16.5 million or 25%, Treasury Bills at $5 million or 7% of the total cash balance, and
a money market account of over $66,500 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
CITYOF RANCHO PALOS VERDES
:?L
In summary, the City’s General Fund has over $24.9 million or 37% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $26.3 million or 39% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with over
$2.6 million or 4%, over $1.6 million or 2% in the 1911 Act Fund, over $0.6 million or 1%
in the Habitat Restoration Fund, over $1 million or 2% in the Quimby Fund, and over $10.1
million or 15% in Other Restricted Funds.
The City’s cash balance decreased by $1.4 million from last month. In comparison to the
same month of last year, the cash balance in this month increased by $1.5 million, mainly
attributed to the timing of disbursements for City-approved projects. The major
disbursements for this month included Aleshire & Wynder for legal services, Anchor Qea
for the Receiving Water and Outfall Monitoring Project, Hardy & Harper for the Road
Maintenance Project, Harris & Associates for the Altamira Canyon Drainage Project, Los
Angeles County Sheriff’s Department for law enforcement services, and Stay Green for
the Landscape Maintenance Project. Other disbursements included Abalone Cove
Landslide Abatement District, California Joint Power Insurance Authority, and Klondike
Canyon Geologic Abatement District for the annual dues and memberships. All
expenditures were disbursed in accordance with the Fiscal Year 2020-2021 budget.
This June report reflects preliminary numbers, and the final report will be submitted after
year-end closing is completed.
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 quarterly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
Bank and Merchant Fees
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2021 (PREUMINARYJ
The June Treasurer Report will be re-submitted after the year-end closing ia completed
Bank of the Wo■I
Open,dng
4,889,362.05
2 ,141,460.01
(2,908,686.43)
(662,570.78)
(87 ,005.19)
263,000.00
(1,200,000 .00)
2 ,435,559.66
397,618.67
252,068.30
12,883.81
662 ,570.78
P9ttyCHh
5,000.00
5,000.00
Malaga Bank
Non-t.leootlabla Vining Sparb
LAJF-CITY CD Money Mal"Mt
38 ,218,182.06 4,266,654.11 312 ,677.16
3,893.32
1,000,000.00
(250,000.00)
39 ,218,182.06 4,266,654.11 66,570.48
(3) The net adjustment was due to a void check and year-end adjustments.
JUNE 2021 CASH BALANCE BY MAJOR FUNDS
1%
Vining Spark.a
lnvntmont TotalC..h
21 ,250,000.00 68,941 ,875.38
2,141 ,460.01
(2 ,908,686.43)
(662,570 .78)
50 ,000 .00 (33,111 .87)
200 ,000 .00 1,463,000.00
(1 .450,000.00)
21 ,500,000.00 67.491 ,966.31
■GENERAL FUND 37%
■CIP39%
■ EQUIPMENT REPLACEMENT 4%
■1911 ACT 2%
DHABITAT RESTORATION 1%
■QUIMBY2%
■OTHER RESTRICTED FUNDS 1S%
A-2
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Sublml
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
HABITAT RESTORATION
SUBREGION 1 MAINTENANCE
MEASURE A MAINTENANCE
ABALONE COVE SEWER DISTRICT
RPVTV
GINSBURG CULTURE ARTS BUILDING
DONOR RESTRICTED CONTRIBUTIONS
FEDERAL GRANTS
STATE GRANTS
FEDERAL GRANTS-ARPA
QU IM BY
LOW-MODERATE INCOME HOUSING
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICATION
MEASURE W
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RET IRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subllalal
GRANO TOTAL
BALANCE
FORWARD
27,234 485.34
0 .00
25 .591 ,721 .32
2 ,582 ,481 .20
0 .00
0 .00
28, 174,202.52
591 ,581 .29
29,063 .67
39 ,363 .29
18 ,686.56
0 .00
1,775 ,901.48
400 ,190.12
143 ,295 .26
1,184 ,216 .35
1,487 ,034 .06
136 ,442.13
1,375 ,242.81
314 ,043 .77
666 ,563 .40
753 ,701 .31
(0 .00)
254 ,708.87
0 .00
0 .00
778 ,478 .13
0.00
0 .00
0 .00
1,194,718 .54
223 ,597 .24
873 ,878 .07
223 ,153.47
0 .00
0 .00
0.00
0.00
0 .00
0 .00
310 ,447 .37
000
756 ,880 .33
13.531 ,1 87.52
68,941,875.38
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2021
DEBIT CREDIT CASH
5,218,802.01 7,528,745.70 24 ,924 ,5-41 .85
0 .00 0 .00 0.00
882 ,919 .00 82 ,893 .50 26 ,391 ,746 .82
23,400 .00 2 ,630 .36 2 .603 ,250 .84
0 .00 0 .00 0.00
0 .00 0 .00 0 .00
906,319.00 85,523.88 28,99-4,997 .66
209 ,820 .13 189,149 .90 612 ,251 .52
0 .00 0 .00 29 ,063 .67
7.48 0.00 39 ,370 .77
4,221 .00 16,387.50 6 ,520 .06
000 0 .00 0 ,00
1,932 .94 119 ,209 .77 1,658 ,624 .65
42,237 .20 14 ,119 .31 428 ,308 .01
13 ,973 .1 9 14 ,055 .00 143,213.45
68 ,310 .09 244 .50 1,252 ,281 .94
85 ,413 .98 23 ,1 48 .95 1,549 ,299.09
0 .00 32 ,500 .00 103,942 .13
51 ,154 .23 37 ,683 .81 1,388 ,7 13 .23
110,180 .43 73 ,072 .76 351 ,151.44
0 .00 0 .00 666 ,563.40
2 ,500 .00 6 ,845 .97 749 ,355 .34
0 .00 25 ,000 .00 (25 ,000 .00)
0 .00 10 ,644 .46 244 ,064 .41
0 .00 0.00 0 .00
0 .00 0.00 0.00
0.00 1,568 .64 776 ,909 .49
0 .00 0.00 0 .00
0 .00 0.00 0 .00
0 .00 0 .00 0.00
0.00 116,123.00 1,078 ,595 .54
0 .0 0 0.00 223 ,597 .24
0 .00 0.00 873 ,878 .07
6,446 .15 12,319.00 217,280 .62
0.00 0 .00 0 .00
0 .00 0 .00 0 .00
0 .00 0.00 0 .00
0.00 0.00 0 .00
5,054 .75 5,054 .75 0 00
0.00 0.00 0 .00
184 ,414.94 0 .00 494 ,862 .31
0 .00 0 .00 0 .00
34 ,121 .00 94 ,420 .71 696 ,580.62
819 787.51 791 ,548.03 13,559,427.00
8 ,942,908.52 8,405,817.59 87 478,986.31
Total Investment: 67 ,478 ,966.31
Change In
Ending Cash
Balance
(2,311 943.69
0 .00
800 ,025 .50
20 ,769.64
0 .00
0 .00
820,795.14
20 ,670 .23
0.00
7 .48
(12,166 .50)
0 .00
(117,276 .83 )
28 ,117 .89
(81 .81 )
68 ,065.59
62 ,265 .03
(32 ,500 .00)
13 ,470.42
37 ,107 .67
0 .00
(4 ,345 .97)
(25 ,000 .00)
(10 ,644 .46)
0 .00
0 .00
(1,568 .64)
0 .00
0 .00
0 .00
(116,123 00 )
0 .00
0 .00
(5 ,872 .85)
0 .00
0,00
0.00
0 .00
0 .00
0 ,00
184 ,414.94
0 .00
(60,299 .71)
28,239.48
(1,462,909.0(]
Change In
Ending Cash
Balance in%
-8%
0%
3%
1%
0%
0%
3'14,
3%
0%
0%
-65 %
0%
-7%
7%
0%
6%
4%
-24 %
1%
12%
0%
-1 %
0%
-4 %
0%
0%
0 %
0%
0%
0%
-10 %
0%
0%
-3%
0%
0%
0%
0%
0%
0%
59 %
0%
-8%
O'll,
-2%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY INVES TMENT REPORT
JUNE 2021
Issuer of Acquisition Maturity Market Book
Investment Investment cus11>1 Date Term Date Value Value Yield
Local Agency Investment Fund (LAIF-CITY) State of Cal iforn ia NIA NIA On Demand s 39,218.182 $ 39 ,2 18.182 026%
Note (1)
CD -Non-Negoti able Malaga Bank 2/23/2020 24 Mos 2121/2022 s 250.000 $ 250,000 1 50%
CD -Non -Negot iable Malaga Bank 212312020 24 Mos 2/2 1/2022 $ 4 ,016,654 $ 4,016,654 140%
CD -Bank of New York -Vining Sparks (Non-Allegiance Bank
Negotiable) Texas 01748DAY2 1113/2017 60Mos 1113/2022 $ 250 .000 $ 250.000 2 .20%
A lly Bank 02007GKW2 712512019 36 Mos 7/25/2022 $ 250,000 s 250,000 215%
American Bank Na
Le Mars 024373AZ5 9127/2019 36Mos 912712022 $ 250,000 $ 250 .000 1 65%
American Express
Bank FSB 02587CHR4 12119120 17 48 Mos 12/20/2021 $ 250.000 $ 250,000 2 .20%
American Express
Centurion 02587DN38 312112017 60Mos 41512022 $ 250,000 $ 250.000 2.45%
AXOS Bank 05465DAK4 3126/2020 48 Mos 3/26/2024 $ 250,000 $ 250,000 165%
Bab in 06063HMT7 7/221202 0 60 Mos 7122/2025 $ 250.000 $ 250,000 0 .65%
Bank of Deerfield 061785EG2 9/25/20 19 42 Mos 3124/2023 $ 250,000 $ 250,000 1 65%
Bank Forward 062163BN9 1212812019 60Mos 1211812024 $ 250,000 $ 250 ,000 1 75%
HAPOAL O 112
12/15125 06251A202 1211412020 60 Mos 12/2512025 $ 250,000 $ 250,000 050%
Bankers Bank
Madison WI 06610RAT6 12120/2017 48 Mos 1212012021 $ 250 ,000 $ 250 ,000 215%
Bankunited 066519QK8 31512021 60 Mos 3/512026 $ 250.000 $ 250,000 065%
Barclays Bank
Delaware 06740KKD8 7/12/2017 60 Mos 711212022 $ 250,000 $ 250 ,000 2 20%
Baycoast Bank 072727AZ3 1124/2020 60Mos 1/2412025 $ 250,000 $ 250 ,000 1 70%
Bus iness Bk of St
Loui s 12325EHV7 7/19/2017 60 Mos 711912022 $ 250.000 $ 250,000 2 .05%
CIT Bank 12556LBB1 812312019 30 Mos 212312022 s 250.000 $ 250 ,000 1 95%
Capital One Bank
USA 14042TBD8 7/2412019 36 Mos 712512022 $ 250,000 $ 250 ,000 2 10%
Cathy Bank 149159NX9 9/25/2019 24 Mos 9124/2021 $ 250,000 $ 250,000 1.75%
Celtic Bank 15118RUX3 411712020 60 Mos 411712025 $ 250.000 $ 250 .000 150%
Continental Bank UT 211163GYO 212312018 36 Mos 8/2312021 $ 250.000 $ 250,000 2 .30%
Crossfirst Bank 22766ABBO 61912017 60 Mos 61912022 $ 250.000 $ 250 ,000 2 05%
Eaglebank 2 7002YET9 111 712020 36 Mos 111712023 s 250,000 $ 250,000 1 70%
East Boston Savings
Bank 27113PBM2 112012017 60 Mos 1/20/2022 $ 250.000 $ 250,000 2 00%
Enerbank USA 29266N6P7 10/1312017 48 Mos 1011312021 $ 250.000 $ 250,000 2 00%
Exchange Bank 301074DF4 7119/2019 24 Mos 7/1912021 $ 250.000 $ 250 ,000 2.05%
F armers&Merchants
BK NEB 3078 1TBD9 1118/2017 60 Mos 1/1812022 $ 250,000 s 250 ,000 205%
First Bank of
Highland 319141GE1 61712017 60 Mos 6/712022 s 250,000 $ 250.000 210%
Fir st Commercial
Bank MS 31984GFA2 7131120 19 24 Mos 7130/2021 $ 250,000 $ 250,000 1 95%
First Financial Bank 32021MFC8 2121/2018 48Mos 212212022 $ 250,000 $ 250,000 245%
First Internet Bank of
In 32056GCQ1 7114/2017 60 Mos 7114/2022 $ 250,000 $ 250,000 2 05%
First National Bank
of Amer ica 32110YJT3 1/2012017 60 Mos 1/2012022 $ 250.000 $ 250,000 2.00%
F lagstar Bank 33847E2J5 6/1212019 36 Mos 6/13/2022 $ 250,000 $ 250,000 250%
Goldman Sachs
Bank USA 38149MAU7 5131/2019 36Mos 5131/2022 $ 250,000 $ 250,000 2 50%
Henry County Bank
OH 426336BF9 1/271201 7 60 Mos 1127/2022 $ 250,000 $ 250,000 190%
lndustrial&Com Bank
China 45581EAF8 6/212017 60 Mos 612/2022 s 250,000 $ 250,000 2 .05%
ICBANK 46147UUF5 112712021 60 Mos 112712026 $ 250.000 $ 250,000 050%
JP Morgan Chase
Bank 48128UMX4 9/3012020 60 Mos 913012025 $ 250,000 $ 250,000 0.30%
LCA Bank Corp 801798LK6 111212018 SO Mos 1/1212023 $ 250,000 $ 250,000 2 35%
Lakeside Bank 51210SMD6 1/1312017 54 Mos 7/13/2021 $ 250,000 $ 250.000 1.95%
Landmark
Community Bank 51507LBV5 8/23/2019 36 Mos 2/23/2022 $ 250,000 $ 250 ,000 1 90%
MAGBNC 559582AL5 10130/2020 54 Mos 413012025 $ 250.000 $ 250 ,000 040%
Ma laga Bank FSB 56102AAJ5 5129/2020 60 Mos 5129/2025 $ 250.000 $ 250 ,000 070%
A-4
CITY OF RANCHO PALOS VERDES
MONTHLY T REASURER'S RE PORT
JUNE 2021
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP# Date Tenn Date Value Value Yield
Marl in Bus iness
Bank 57116ATMO 1/15/2020 60 Mos 1/15/2025 $ 250 ,000 $ 250,000 1.75%
Medallion Bank Utah 58404DFE6 9/18/2019 36 Mos 9/19/2022 $ 250,000 $ 250,000 1 70%
Merrick Bank 59013JC23 10/11/2017 60 Mos 10/11/2022 $ 250 ,000 $ 250,000 210%
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 48 Mos 9/19/2023 $ 250.000 $ 250,000 185%
New York
Community Bank 649447UP2 6/3/2021 36 Mos 6/3/2024 $ 250,000 $ 250,000 035%
Northfiled Bank 66612ABX5 10/25/2017 60 Mos 10/25/2022 $ 250 .000 $ 250,000 215%
Peoples United Bank 71270QQJ8 1/18/2017 60 Mos 1/18/2022 $ 250,000 $ 250,000 205%
Preferred Bank LA 740367MA2 7/17/2020 60 Mos 7/1 7/2025 $ 250,000 $ 250 ,000 0.50%
Raymond James
Bank 75472RAN1 11/26/2019 72 Mos 11/26/2024 $ 250 ,000 $ 250,000 185%
Sallie Mae Bank/Salt
Lake 7954504P7 11/16/2019 60 Mos 10/16/2024 $ 250.000 $ 250,000 1.90%
Signature Bk
Chicago 82669VBY6 11/8/2017 60 Mos 11/8/2022 $ 250 ,000 $ 250,000 2.15%
State Bank or India 856285RS2 11/27/2019 72 Mos 11 /27/2024 $ 250,000 $ 250,000 205%
Sterling Bank POP
BL MO 85916VDN2 9/18/2019 48 Mos 9/18/2023 $ 250 ,000 $ 250 ,000 1.65%
Summit Commun ity
Bank 86604XML7 1/26/2018 30 Mos 7/26/2021 $ 250,000 $ 250,000 2 20%
Synchrony Bank 87165HRY8 6/2/2017 60 Mos 6/2/2022 $ 250,000 $ 250 ,000 2 40%
BKCROW 88241TJJO 10/23/2020 60Mos 10/23/2025 $ 250,000 $ 250,000 0.60%
Texas Exchange
Bank 88241TJN1 11/25/2020 60 Mos 11/25/2025 $ 250 ,000 $ 250,000 060%
Texas Exchange
Bank 88241TJR2 12/18/2020 60 Mos 12/18/2025 $ 250.000 $ 250,000 0.60%
Third Fed Sav&Ln
Clevland 88413QBU1 11/24/2017 48 Mos 11/24/2021 $ 250,000 $ 250,000 2 .10%
USB Bank USA 90348JN30 6/24/2021 36 Mos 6/24/2024 $ 250,000 $ 250 ,000 0.35%
Vision Bank of Iowa 92834CCL4 11/29/2019 72 Mos 11/29/2024 $ 250,000 $ 250,000 1 75%
Wells Fargo Nat'I
Bank West 949495AQ8 1/17/2020 36 Mos 1/17/2023 $ 250.000 $ 250 .000 1 90%
Wells Fargo Bank 949763045 6/10/2019 36 Mos 6/10/2022 $ 250,000 $ 250,000 2.50%
Treas ury-Bank of New York(Vining Sparks) United States Treas 912828S35 9/12/2019 45 Mos 6/30/2023 $ 1,000 ,000 $ 1 000 ,000 1.38%
United States Treas 912828S76 7/31 /2018 36 Mos 7/31/2021 $ 1,000,000 $ 1,000 ,000 11 3%
United States Treas 912828XZ8 6/30/2020 60 Mos 6/30/2025 $ 1,000,000 $ 1.000 ,000 2 75%
United States Treas 91282CBC4 1/12/2021 60 Mos 12/31/2025 $ 2 ,000,000 $ 2.000,000 038%
Total Investment $ 64 ,984 ,836
Summary . Weighted Return 0.83%
Local Agency Investment Fund (LAIF -CITY) 39.218 ,182 .06
Certificate of Deposit -Malaga Bank 250,000.00
Certificate of Deposit -Malaga Bank 4 ,016 ,654 .11
Certificate of Deposit -Vining Sparks 16,500 .000 00
Treasury Bills -Vining Sparks 5,000,000 00
Total Investment 64 ,984 ,836 .17
A-5
Malaga Bank· CD
6%
NOTE :
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JUNE 2021
SUMMARY OF CASH BALANCE BY INSTITUTION
JUNE 2021
Vining Sparks • Treasury
7%
Bank of the West
4%
Vining Sparks • Money Market
0%
State of California • LAIF
58%
(1) LAIF market values will be reported to vary from book value ~ 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. Furthermore, 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,