CC SR 20210907 D - SR July 2021 Treasurer Report
CITY COUNCIL MEETING DATE: 09/07/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the July 2021 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the July 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
July 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 $71,281,779, with $41.2 million or 58% 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 6% with Malaga Bank. In addition, the City has Certificates of Deposit (CD) investments
at $16 million or 22%, Treasury Bills at $5 million or 7% of the total cash balance, and a
money market account of over $100,000 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
CITYOF RANCHO PALOS VERDES
:?L
In summary, the City’s General Fund has over $23.6 million or 33% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $26.3 million or 37% 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 $0.9 million or 1% in the Quimby Fund, and over
$15.3 million or 22% in Other Restricted Funds.
The City’s cash balance increased by $8.3 million compared to the July 2020 balance.
This is mainly due to the receipt of the City’s allocation of $4.9 million from the American
Rescue Plan Act (ARPA) and the remaining $3.4 million is from increased revenues
minus increased activities from General Fund and Other Special Revenue Funds.
In comparison to the balance from last month (June 2021), the City’s cash balance
increased by $3.8 million, mainly from the City’s first ARPA allocation. The major
disbursements for this month included Aleshire & Wynder for legal services, E.S.A. for
Housing Element professional services, Harris & Associates for the Altamira Canyon
Drainage Project, Johnson Favaro for Ladera Linda Project architecture design services,
the Los Angeles County Sheriff’s Department for law enforcement services, and Stay
Green for the Landscape Maintenance Project . All expenditures were disbursed in
accordance with the Fiscal Year 2020-2021 and 2021-22 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 quarterly.
(2) Eleelronic Disbursements:
Payroll
Payroll Charges
Postage
Petty Cash
Sales Taxes
CalpPers Benefits
CalPers lump Payment
Bank and Merchant Fees
Bank al tho Wnt
Operating
2 ,422,348.44
7,093,197.00
(1,776,568.49)
(1,590,404.79)
500,000.00
(2,000,000.00)
4,648,572.16
364,807.55
238,434.37
2,500.00
345.00
1,104.00
6 ,000.80
969,395.00
7,818.07
1,590,404.7 9
CITY OF RANCHO PALOS VERDES
MONTHLY T REASURER'S REPORT
JULY 2021
Malaga Bank
Non-Nogotlobltt Vlnl119Sparko
Petty<:aoh LAIF.CITY CD Money Marica!
5 ,000.00 39,218,182 06 4 ,266,654.11 66,570.48
29,268.93 13,942 .74 33 ,568.66
2 ,000,000.00
5 ,000.00 41 ,247,470 .99 4,280,596.85 100,139.14
JULY 2021 CASH BALANCE BY MAJOR FUNDS
Vining Sportco
In-TolalC..h
21,500,000.00 67,478,755.09
7 ,093,197 .00
76,800.33
(1 ,776,568.49)
(1,590,404.7 9 )
2 ,500,000.00
(500,000.00) (2,500,000.00)
21 ,000,000.00 7 1,281 ,779.14
■GENERAL FUND 33%
■CIP 37%
■EQUIPMENT REPLACEMENT 4%
■1911ACT 2%
[]HABITAT RESTORATION 1%
■QUIMBY 1%
■OTHER RESTRICTED FUNDS 22%
A-2
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted bv Council Action
BEAUTIF ICAT ION FUND
GIP
EQ UIPMENT REPLACEMENT
BU ILDING REPLACEMENT
EMPLOYEE BENEFITS
Sublolal
Restricted by Law or External Agencies
STREET MAINTENANCE
1972 ACT
EL PRADO
CDBG
CDBG-R
19 11 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOSIT ION C
PROPOSITION A
PUB LI C SAFETY GRANTS
MEASURER
MEASURE M
HABITAT RESTORATION
SUBREGION 1 MAINTENANCE
MEASURE A MAINTENANCE
ABALONE COVE SEWER DISTRICT
RPVTV
GINSBURG CULTURE ARTS BUILDING
DONOR RESTR ICTED CONTRIBUTIONS
FEDERAL GRANTS
STATE GRANTS
FEDERAL GRANTS-ARPA
QU IMBY
LOW-MODE RA TE INCOME HOUSING
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICATION
MEASURE W
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Sublolal
GRAND TOTAL
BALANCE
FORWARD
24,899,330.43
0.00
26 ,391 ,746.82
2 ,603 ,250 .84
0 .00
0.00
28,994,997.68
612 ,251 .52
29,063 .67
39 ,370.77
6 ,520 .06
0 .00
1 ,658 ,624 .65
428,308 .01
143,213.45
1,252 ,281 .94
1,549 ,299 .09
103 ,942 .13
1,388 , 713 ,23
351 ,151 .44
666 ,563 .40
749,355 .34
0 .00
244 ,064 .41
0 .00
0 .00
776 ,909.49
0 .00
0.00
0 .00
1,078,595 .54
223 ,597 .24
873 ,878 .07
217 ,280 .62
0 .00
0 .00
0 .00
0 .00
0.00
0 .00
494,862 .31
0 .00
696,580 .62
13,584 427.00
67,478,755.09
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2021
DEBIT CREDIT CASH
10,379,659.75 11 ,652,962 .69 23,626,027.49
0 .00 0 .00 0 .00
11 ,619.46 26 ,903 .00 26 ,376 ,463 .28
1 ,162 .96 0 .00 2 ,604 ,4 13 .80
0 .00 0.00 0.00
0.00 0 ,00 0 .00
12,782.42 26,903.00 28,980,BTT.08
181 ,120.20 102,866.65 690 ,505 .07
13.05 0 .00 29 ,076 .72
66.82 0 .00 39 ,43 7 .59
13 ,675.00 18 ,142 .50 2 ,052 .56
0 .00 0.00 0.00
13,551 .27 29 ,50 1.04 1,642 ,674 .88
9 ,410.91 7 ,24 1.52 430 ,477.40
65 .02 0 .00 143 ,278.47
86,940.64 17,100.00 1,322 ,1 22 .58
104 ,830 .77 5,306.02 1,648 ,823 .84
56.41 0.00 103 ,998 .54
65 ,357 .91 36 ,765.46 1,417 ,305.68
73,291 .80 37 ,789 .58 386 ,653 .66
301 .59 0 .00 666 ,864 .99
338 .04 3 ,863 .74 745 ,829 .64
0 .00 0.00 0.00
1,959.28 28,496 .16 217 ,527 .53
0 .00 0.00 0 .00
0 .00 0 .00 0 .00
1 ,849 .38 1,212 .00 777 ,546 .87
0.00 0 .00 0 .00
0 .00 0 .00 0 .00
4 ,967 ,429 .00 0.00 4 ,967 ,429.00
519 .16 83 ,988 .25 995 ,126.45
100.42 0 .00 223 ,697 .66
392 .45 0.00 874 ,270 .52
100 .63 0 .00 217 ,381 .25
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
0.00 0 .00 0 .00
167.02 0.00 495,029 .33
0.00 0 .00 0 .00
24 ,202 .37 83 ,018 .65 637,764 .34
5 ,545,739 .14 455,291.57 18,674 ,874.57
15,938,181 .31 12,135,157.26 71 ,281 ,779.14
Total Investment: 71,281 ,779 .14
Change In
Ending Cash
Balance
(1 ,273,302.94]
0.00
(15 ,283.54)
1,162.96
0 .00
0 .00
(14 ,120.58'
78 ,253 .55
13 .05
66.82
(4 ,467.50 )
0 .00
(15 ,949 .77)
2 ,169 .39
65.02
69,840 .64
99 ,524 .75
56 .41
28 ,592 .45
35 ,502 .22
301 .59
(3 ,525 .70)
0.00
(26 ,536 .88)
0 .00
0.00
637 .38
0 .00
0 .00
4 ,967 ,429.00
(83 ,469.09
100.42
392 .45
100 .63
0 .00
0 .00
0 .00
0 .00
0 .00
0 .00
167.02
0 .00
(58 ,816 .28)
5,090,447.57
3,803,024.05
Change In
Ending Cash
Balance in %
-5%
0%
0%
0%
0%
0%
°"'
13%
0%
0%
-69%
0%
-1%
1%
0%
6%
6%
0%
2%
10%
0%
0%
0%
-1 1%
0%
0%
0%
0%
0%
0%
-8%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
-8%
37%
6%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
JULY 2021
Issuer of Acqu isition Maturity Market Boo k
Investment Investment CUSIP# Date Term Date Value Value Yield
Local Agency Investment Fund (1.A IF -C ITY) State of California NIA NIA On Demand $ 41 ,247 ,471 $ 41,247,471 022%
Note (1)
CD -Non-Negotiable Mala ga Bank 212312020 24 Mo s 212112022 $ 250,000 $ 250 .000 1.50%
CD -Non-Negotiable Malaga Bank 212312020 24 Mos 212112022 $ 4,030 ,597 $ 4 ,030,597 140%
CD -Bank of New Yori< -V ining Sparl<s (Non-Allegiance Bank
Negot,able) Texas 01748DAY2 11/3/2017 60Mos 11/3/2022 $ 250,000 $ 250 ,000 2 .20%
Ally Bank 02007GKW2 7/25120 19 36 Mos 7/2512022 $ 250,000 $ 250 ,000 215%
American Bank Na
Le Mars 024373AZ5 912712019 36 Mos 912712022 $ 250,000 $ 250,000 165%
American Express
Bank FSB 02587CHR4 12/19/2017 48Mos 12120/2021 $ 250 ,000 $ 250,000 220%
American Express
Centurion 02587DN38 3/2112017 60 Mos 41512022 $ 250,000 $ 250,000 2.45%
AXOS Bank 05465DAK4 3126/2020 48 Mos 3/26/2024 $ 250,000 $ 250,000 1.65%
BMW Bank of
Northern America 05580AB45 7123/2021 36 Mos 7/23/2024 $ 250 ,000 $ 250 ,000 0 .50%
Babin 06063HMT7 7/22/2020 60Mos 7/22/2025 $ 250,000 $ 250 ,000 065%
Bank of Deerfield 061785EG2 9/2512019 4 2 Mos 312412023 $ 250,000 $ 250,000 1.65%
Bank Forward 062163BN9 1212812019 60 Mos 12118/2024 $ 250,000 $ 250,000 1.75%
HAPOAL 0 112
12115125 06251A2O2 12114/2020 60Mos 12/25/2025 $ 250,000 $ 250 ,000 050%
Bankers Bank
Madison WI 06610RAT6 12/2012017 48 Mos 12120/2021 $ 250,000 $ 250,000 215%
Bankun,ted 066519QK8 3/5/2021 60 Mos 31512026 $ 250,000 $ 250,000 065%
Barclays Bank
Delaware 06740KKD8 7/1212017 60Mos 7/12/2022 $ 250,000 $ 250 ,000 220%
Baycoast Bank 072727AZ3 1/24/2020 60 Mos 1/24/2025 $ 250,000 $ 250 ,000 170%
Business Bk of SI .
LOUIS 12325EHV7 7/1912017 60 Mos 7/1912022 $ 250,000 $ 250,000 2 .05%
CIT Ban k 12556LBB1 812312019 30 Mos 2/2312022 $ 250,000 $ 250,000 195%
Capital One Bank
USA 14042TBD8 7124/2019 36Mos 7/25/2022 $ 250,000 $ 250 ,000 210%
Cathy Bank 149159NX9 9/25/2019 24 Mos 9124/2021 $ 250,000 $ 250,000 175%
Celtic Bank 15118RUX3 411712020 60 Mos 4/17/2025 $ 250,000 $ 250,000 1.50%
Continental Bank UT 211163GY0 2123/2018 36 Mos 8/23/2021 $ 250,000 $ 250,000 2.30%
Crossfirst Bank 22766ABBO 61912017 60Mos 6/9/2022 $ 250,000 $ 250 ,000 2.05%
Eaglebank 27002YET9 1/1712020 36Mos 1117/2023 $ 250 ,000 $ 250 ,000 170%
Easl Boslon Savings
Bank 27113PBM2 112012017 60 Mos 1/2012022 $ 250,000 $ 250,000 2 00%
Enerban k USA 29266N6P7 10/13/2017 48 Mos 10/13/2021 $ 250,000 $ 250,000 200%
F armers&Merchants
BK NEB 30781TBD9 1/18/2017 60Mos 1118/2022 $ 250,000 $ 250 ,000 205%
Firs! Bank of
Highland 319141GE1 617/2017 60 Mos 617/2022 $ 250,000 $ 250,000 2 .10%
First Financial Bank 32021MFC8 212112018 48 Mos 2122/2022 $ 250,000 $ 250,000 245%
First lnlem el Bank of
In 32056GCQ1 7/14/2017 60 Mos 711 4/2022 $ 250,000 $ 250,000 2 .05%
Firs! National Bank
of America 32110YJT3 1/2012017 60 Mos 1/20/2022 $ 250,000 $ 250 ,000 200%
Flagstar Bank 33847E2J5 6/12/2019 36Mos 6/1312022 $ 250 .000 $ 250 ,000 250%
Goldman Sachs
Bank USA 38149MAU7 5/31/2019 36 Mos 5/31/2022 $ 250.000 $ 250,000 2 .50%
Henry County Bank
OH 426336BF9 1/2712017 60 Mos 1/27/2022 $ 250,000 $ 250,000 190%
lndustrial&Com Bank
China 45581EAF8 6/2/2017 60 Mos 612/2022 $ 250,000 $ 250 ,000 205%
ICBANK 46147UUF5 1/27/2021 60 Mos 1127/2026 $ 250,000 $ 250,000 0 .50%
JP Morgan Chase
Bank 48128UMX4 913012020 60 Mos 9/30/2025 $ 250,000 $ 250 ,000 0.30%
LCA Bank Corp 801798 LK6 1/12/2018 60Mos 1/12/2023 $ 250 ,000 $ 250 ,000 2 .35%
Landman<
Community Bank 51507LBV5 8/23/2019 36 Mos 2/23/2022 $ 250,000 $ 250,000 190%
MAGBNC 559582AL5 1013012020 54 Mos 4130/2025 $ 250,000 $ 250,000 0.40%
Malaga Bank FSB 56102AAJ5 5129/2020 60 Mos 5/29/2025 $ 250,000 $ 250 ,000 0 70%
A-4
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2021
Issuer ot' Acquisition Maturity Marttet Book
Investment Investment CUSIP• Date Term Date Value Value Yitld
Marlin Business
Bank 57116ATMO 1/15/2020 60 Mos 1/15/2025 $ 250,000 $ 250 ,000 1.75%
Medallion Bank Utah 58404DFE6 9/18/2019 36Mos 9/19/2022 $ 250,000 $ 250,000 1.70%
Merrick Ba nk 59013JC23 10/1 1/2017 60 Mos 10/11/2022 $ 250,000 $ 250,000 210%
M id•Missouri Bank 59541KBP1 1/19/2018 60 Mos 1/19/2023 $ 250,000 $ 250 ,000 2.35%
Morgan Stanley PVf
Bank 61760AZ51 9/19/20 19 48 Mos 9/19/2023 $ 250,000 $ 250,000 1.85%
New York
Community Bank 649447UP2 613/2021 36Mos 6/3/2024 $ 250,000 $ 250,000 0.35%
Northfiled Bank 66612ABX5 10/25/2017 60 Mos 10/2512022 $ 250,000 $ 250,000 2.15%
Peoples United Bank 71270QQJ8 1/18120 17 60 Mos 1118/2022 $ 250,000 $ 250,000 205%
Preferred Bank LA 740367MA2 711712020 60 Mos 7/17/2025 $ 250,000 $ 250 ,000 0.50%
Raymond James
Bank 75472RAN1 11/26/2019 72Mos 11/2612024 $ 250,000 $ 250 ,000 1 85%
Sallie Mae Bank/Salt
Lake 7954504P7 11/16/2019 60 Mos 10/1612024 $ 250,000 $ 250,000 1.90%
Signature Bk
Ch icago 82669VBY6 11/8/2017 60 Mos 11/8/2022 $ 250,000 $ 250.000 215%
State Bank of India 856285RS2 1112712019 72 Mos 11/27/2024 $ 250,000 $ 250,000 2.05%
Sterl ing Bank POP
BLMO 85916VDN2 9118/2019 48Mos 9118/2023 $ 250,000 $ 250,000 1.65%
Synchrony Bank 87165HRY8 6/2/2017 60 Mos 612/2022 $ 250,000 $ 250 ,000 240%
BKCROW 88241TJJO 10/23/2020 60 Mos 10/23/2025 $ 250.000 $ 250,000 060%
Texas Exchange
Bank 88241TJN1 11/25/2020 60 Mos 11/25/2025 $ 250,000 $ 250,000 0.60%
Texas Exchange
Bank 88241TJR2 12/18/2020 60Mos 12118/2025 $ 250,000 $ 250,000 060%
Third Fed Sav&Ln
Clevland 88413QBU1 11/24/2017 48Mos 11/2412021 $ 250,000 $ 250 ,000 21 0%
Toyota Financial
Svgs Bank 89235MLE9 7129/2021 60 Mos 7/29/2026 $ 250.000 $ 250,000 095%
USB Bank USA 90348JN30 6/2412021 36 Mos 6/24/2024 $ 250,000 $ 250.000 035%
V ision Bank of Iowa 92834CCL4 11129/2019 72 Mos 11/29/2024 $ 250 ,000 $ 250,000 1 75%
Wells Fargo Nat'I
Bank West 949495AQ8 1/17/2020 36Mos 1/1712023 $ 250,000 $ 250,000 190%
Wells Fargo Bank 949763D45 6/10/2019 36 Mos 6110/2022 $ 250,000 $ 250,000 2 50%
Treasury-Bank of New York(Vining Sparks) United States Treas 912828S35 9/12/2019 45Mos 6/30/2023 $ 1,000,000 $ 1,000,000 138%
United States Treas 912828S76 7/3112018 36Mos 713112021 $ 1,000,000 $ 1,000,000 113%
United States Treas 912828XZ8 6/30/2020 60 Mos 6/30/2025 $ 1,000,000 $ 1,000 ,000 2 75%
United States Treas 91282CBC4 1/1212021 60 Mos 12/31/2025 $ 2,000,000 $ 2 ,000,000 0.38%
Total Investment $ 66,528 ,068
Summary Weighted Return 0.76%
Local Agency Investment Fund (LAIF-C ITY ) 41 ,247,470 .99
Certificate of Deposit -Malaga Bank 250,000 .00
Certdicate of Deposit -Malaga Bank 4 ,030,596.85
Certificate of Deposit -V in in g Sparks 16,000,000 .00
Treasury Bills -Vining Sparks 5,000 ,000.00
Total Investment 66,528,067 .84
A-5
Malaga Bank -CD
6%
NOTE:
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2021
SUMMARY OF CASH BALANCE BY INSTITUTION
JUNE 2021
Vining Sparks -Treasury
7%
Bank of the West
7%
Vining Spa rks -Money Market
0%
State of California • LAIF
SB%
(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 materiel 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 poticy 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,