CC SR 20211005 D - Aug 2021 Treasurer Report
CITY COUNCIL MEETING DATE: 10/05/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the August 2021 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the August 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, Senior 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
August 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 over $71.5 million, with approximately $41
million or 58% of the total cash balance in the Local Agency Investment Fund (LAIF). The
City has almost $5 million or 7% of the total cash balance with Bank of the West and over
$4 million or 6% with Malaga Bank. In addition, the City has Certificates of Deposit (CD)
investments just under $16 million or 22%, Treasury Bills at $5 million or 7% of the total
cash balance, and a money market account of over $371,000 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.
CITYOF RANCHO PALOS VERDES
1
In summary, the City’s General Fund has over $24 million or 34% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $26 million or 37% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with over
$2.6 million or 4%, over $1.4 million or 2% in the 1911 Act Fund, over $0.6 million or 1%
in the Habitat Restoration Fund, over $1 million or 1% in the Quimby Fund, and over $15
million or 21% in Other Restricted Funds.
The City’s cash balance increased by $9 million compared to the August 2020 balance.
As reported in the prior month’s report, the significant overall increase in cash balance is
mainly from the American Rescue Plan of $4.9 million, and the remaining $4.1 million is
a combination of increased in revenues and timing of disbursements in General Fund and
Other Special Revenue funds.
In comparison to the balance from last month (July 2021), the City’s cash balance
increased by approximately $288,000, mainly attributed to the timing of disbursements
for City-approved projects. The major disbursements for this month included Aleshire &
Wynder for legal services, Johnson Favaro for Ladera Linda Park and Community Center
Project architecture design services, Anchor Qea for the Water Outfall Monitoring Project,
Palos Verdes Peninsula Transit Authority for the City’s semi -annual contribution, Fire
Grazers for the Fuel Modification by Goats Project, Global Road Sealing for the Traffic
Signal Installation at Via Rivera, John Hunter for the National Pollutant Discharge
Elimination System (NPDES) Program, Hardy & Harper for the annual Portuguese Bend
Landslide Repair Project, and Stay Green for the Landscape Maintenance Project . All
expenditures were disbursed in accordance with the Fiscal Year 2021-2022 budget.
2
A-1
BEGINNING BALANCE
PLUS : DEPOSITS
PLUS : INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS : ELECTRONIC DISBURSEMENTS(2)
AOJUSTMENTS(3)
PLUS :TRANSFERSIN
LESS: TRANSFERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
GASB 68 Report
Bank and Merchant Fees
Bank of the WHt
Open,ting
4,648,572 .16
3,389,073 .77
(2,474,453 .09)
(655,559.81)
7,424.00
4,915,057 .03
392 ,603.80
254,156.21
1,050.00
7,749 .80
655,559 .81
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST2021
Petty ca.., UUF-CITY
5,000 .00 41 ,247,470.99
5,000 .00 41 ,247,470 .99
Malaga Bank
Non.f,legotiable
CD
4,280,596.85
4,280,596.85
Vining Sporb
MoneyMalbl
100,139.14
21 ,724 .18
250,000.00
Vini119 Sporb
I~ Total ca ■h
21 ,000 ,000 .00 71,281 ,779 .14
3,389,073.77
21 ,724 .18
(2,474,453 .09)
(655,559 .81)
(250,000 .00) 7,424 .00
371 ,863 .32 20,750,000.00 71,569 ,988 .19
AUGUST 2021 CASH BALANCE BY MAJOR FUNDS
■GENERAL FUND 34%
■CIP37%
■EQUIPMENT REPLACEMENT 4%
■1911 ACT2%
DHABITAT RESTORATION 1%
■QUIMBY1%
■OTHER RESTRICTED FUNDS 21%
A-2
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE BENEFITS
Subtotal
Restricted bv 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 RESTR ICTED CONTRIBUTIONS
FEDERAL GRANTS
STATE GRANTS
FEDERAL GRANTS-ARPA
QUIMBY
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 RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Sub4olal
GRAND TOTAL
BALANCE
FORWARD
23,626,027 .49
0.00
26 ,376,463 .28
2 ,604 ,413 .80
0 .00
0 .00
28,980,877.08
690 ,505.07
29 ,076.72
39 ,437 .59
2 ,052.56
0 .00
1,642 ,674 .88
430 ,477 .40
143,278.47
1,322 ,122.58
1,648 ,823 .84
103,998 .54
1,417,305 .68
386 ,653 .66
666 ,864 .99
745 ,829 .64
0.00
21 7,527 .53
0 .00
0 .00
777 ,546 .87
0.00
0 .00
4 ,967 ,429 .00
995 ,126.45
223 ,697 .66
874 ,270 .52
217,381 .25
0.00
0 .00
0 .00
0 .00
0 .00
0 .00
495 ,029 .33
0 .00
637,764 .34
18,674,874 .57
71 ,281,779.14
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 2021
DEBIT CREDIT CASH
5 845,488.63 5,321 ,869 .55 24 ,149 ,626.57
0 .00 0 .00 0 .00
69 ,551 .81 4 ,362 .32 26 ,441 ,652 .77
4 ,268 .62 0.00 2 ,608 ,682 .42
0.00 0.00 0.00
0 .00 0.00 0 .00
73,820.43 4,382.32 29,050,335.19
219 ,014 .74 90 ,228 .91 819 ,290 .90
47 .91 0 .00 29 ,124 .63
171 .85 0 .00 39 ,609.44
22 ,622 .50 0 .00 24 ,675 .06
0 .00 0.00 0 .00
52 ,949 .53 268,495 .33 1,427,129.08
6,785 .20 10 ,877 .66 426 ,384 .94
14,094 .29 4 ,7 50 .00 152 ,622 .76
86 ,753 .13 694 ,193 .87 714 ,681 .84
80 ,508 .44 390 ,544 .98 1 ,338 ,787 .30
207 .06 0.00 104 ,205 .60
74 ,590 .65 8 ,487.15 1 ,483,409.18
65 ,041 .04 36 ,681 .95 415 ,012 .75
1,106 .98 0.00 667 ,971 .97
2 ,193.71 4 ,111 .76 743 ,911 .59
0 .00 0.00 0 .00
5 ,298 .84 7,015 .19 215 ,811 .18
0 .00 0 .00 0 .00
0 .00 0.00 0.00
2 ,519 .38 0.00 7 80 ,066 .25
0 .00 0.00 0 .00
0.00 0 .00 0.00
0 .00 0.00 4 ,967 ,429 .00
85 ,893 .81 33 ,556 .40 1,047 ,463 .86
368 .57 0.00 224 ,066 .23
1,440 .50 0.00 875,711 .02
4 ,100.72 12 ,124 .00 209,357 .97
0 .00 0.00 0 .00
0 .00 0.00 0.00
0 .00 0 .00 0 .00
0 .00 0.00 0 .00
865 ,797 .57 480 ,949 .98 384 ,847 .59
0.00 0 .00 0.00
613 .07 0 .00 495 ,642 .40
0 .00 0 .00 0.00
178,963 .14 33 ,913 .59 782 ,813 .89
1,771 ,082.63 2,075,930.77 18,370,026,43
7,690,371 .69 7 ,402,182.64 71 ,589 ,988.19
Total Investment 71,569 ,988 .19
Change In
Ending Cash
Ba lance
523 ,599.08
0 .00
65 ,189.49
4 ,268 .62
0 .00
0.00
69 458 .11
128,785 .83
47 .91
171.85
22 ,622 .50
0 .00
(215 ,545 .80)
(4 ,092.46)
9 ,344 .29
(607 ,440 .74 )
(310 ,036 .54 )
207 .06
66 ,103.50
28 ,359 .09
1 ,106 .98
(1 ,918 .05)
0.00
(1 ,716 .35)
0.00
0 .00
2 ,519 .38
0 .00
0.00
0 .00
52 ,337 .41
368 .57
1,440 .50
(8 ,023 .28)
0 .00
0 .00
0.00
0 .00
384 ,847 .59
0.00
613 .07
0 .00
145,049 .55
(304,848 .14
288,209.05
Change In
Ending Cash
Balance in %
2%
0%
0%
0%
0%
0%
0%
19%
0%
0%
1102%
0%
-13%
-1%
7%
-46%
-19%
0%
5%
7%
0%
0%
0%
-1 %
0%
0%
0%
0%
0%
0%
5%
0%
0%
-4 %
0%
0%
0%
0%
0%
0%
0%
0%
23 %
-2%
0%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
AUGUST 2021
l11uer of Acquiaition Maturity Mar1';et Book
Investment Investment CUSIP# O.t• Term Date Value Value Yield
Local Agency Investment Fund (LAIF-CITY) State of California NI A N/A On Demand $ 41 ,247 ,471 $ 41 ,247 ,471 0.22%
Note (1)
CD -Non-Negotiable Malaga Bank 2/23/2020 24 Mos 2/21/2022 $ 250 ,000 $ 250,000 1 50%
CD -Non-Negotiable Malaga Bank 2123/2020 24 Mos 2/21/2022 $ 4,030,597 $ 4,030,597 1.40%
CD -Bank of New York -Vining Sparks (Non-All egiance Bank
Negotiable) Texas 01748DAY2 11/3/2017 60 Mos 11/3/2022 $ 250,000 $ 250,000 220%
Ally Bank 02007GKW2 7/25/2019 36Mos 7/25/2022 $ 250,000 $ 250,000 215%
American Bank Na
Le Mars 024373AZ5 9/27/2019 36 Mos 9/27/2022 $ 250,000 $ 250,000 1.65%
American Exp ress
Bank FSB 02587CHR4 12/19/2017 48 Mos 12/20/2021 $ 250,000 $ 250,000 2.20%
Ame ri can Express
Centurion 02587DN38 3/21/2017 60 Mos 4/5/2022 $ 250 ,000 $ 250,000 2.45%
AXOS Bank 05465DAK4 3/2612020 48 Mos 3/26/2024 $ 250,000 $ 250,000 1.65%
BMW Bank of
Northern America 05580AB45 7/23/2021 36 Mos 7/23/2024 $ 250,000 $ 250,000 0.50%
Babin 06063HMT7 712212020 60 Mos 7/22/2025 $ 250,000 $ 250,000 065%
Bank of Deerfield 061785EG2 9/25/2019 42 Mos 3124/2023 $ 250,000 $ 250,000 1.65%
Bank Forward 062163BN9 12/28/2019 60 Mos 12/18/2024 $ 250,000 $ 250 ,000 175%
HAPOAL O 1/2
12/15/25 06251A202 12/1412020 60 Mos 12/25/2025 $ 250,000 $ 250,000 0.50%
Bankers Bank
Madison WI 06610RAT6 12/2012017 48 Mos 12/20/2021 $ 250 ,000 $ 250,000 215%
Bankunit ed 066519QK8 3/5/2021 60 Mos 3/512026 $ 250,000 $ 250,000 065%
Barclays Bank
Delaware 06740KKD8 7/1212017 60 Mos 7112/2022 $ 250,000 $ 250,000 2.20%
Baycoast Bank 072727AZ3 1/2412020 60 Mos 1/24/2025 $ 250,000 $ 250,000 170%
Business Bk of St.
Lou is 12325EHV7 7/19/2017 60 Mos 7119/2022 $ 250,000 $ 250,000 2.05%
CIT Bank 12556LBB1 8/23/2019 30 Mos 2/23/2022 $ 250,000 $ 250 ,000 1.95%
Capital One Bank
USA 14042TBD8 7/24/2019 36Mos 7/25/2022 $ 250,000 $ 250,000 210%
Cathy Bank 149159NX9 9/25/2019 24 Mos 9/24/2021 $ 250 ,000 $ 250,000 175%
Celtic Bank 15118RUX3 4/17/2020 60 Mos 4/17/2025 $ 250,000 $ 250,000 1 50%
Crossfirst Bank 22766ABBO 6/9/2017 60 Mos 6/912022 $ 250,000 $ 250,000 205%
Eaglebank 27002YET9 1/17/2020 36 Mos 1/17/2023 $ 250,000 $ 250,000 170%
East Boston Sav in gs
Bank 27113PBM2 1/20/2017 60 Mos 1/20/2022 $ 250,000 $ 250,000 2.00%
Enerbank USA 29266N6P7 10/13/2017 48 Mos 1011312021 $ 250,000 $ 250,000 200%
F armers&Merchants
BK NEB 30781TBD9 1118/2017 60 Mos 1/18/2022 $ 250,000 $ 250,000 2.05%
First Bank of
Highland 319141GE1 6(7/2017 60 Mos 6f7/2022 $ 250,000 $ 250 ,000 210%
Fi rst Financial Bank 32021MFC8 2/21/2018 48 Mos 2/22/2022
First Internet Ba nk of
$ 250 ,000 $ 250,000 2.45%
In 32056GCQ1 7/14/2017 60Mos 7/14/2022
First National Bank
$ 250,000 $ 250,000 205%
of America 32110YJT3 1/20/2017 60 Mos 1/2012022 $ 250,000 $ 250,000 2 00% F lagstar Bank 33847E2J5 6/1212019 36Mos 6/13/2022 $ 250,000 $ 250 ,000 2.50% Goldman Sachs
Bank USA 38149MAU7 5/31/2019 36Mos 513112022 $ 250,000 $ 250,000 250% Henry County Bank
OH 426336BF9 1/27/2017 60 Mos 112712022 $ 250,000 $ 250 ,000 190% lndustrial&Com Bank
China 45581EAF8 6/2/2017 60 Mos 6/2/2022 $ 250,000 $ 250,000 2.05% ICBANK 46147UUF5 1/27/202 1 60Mos 1/2712026 $ 250,000 $ 250,000 0.50% JP Morgan Chase
Bank 48128UMX4 9/30/2020 60 Mos 9130/2025 $ 250,000 $ 250,000 0.30% LCA Bank Corp 80179BLK6 1/1 21201 8 60Mos 1/1212023 $ 250,000 $ 250 ,000 2.35% Landmark
Community Bank 51507LBV5 8123/2019 36Mos 2/2312022 $ 250,000 $ 250,000 1.90% MAGBNC 559582AL5 10/30/2020 54 Mos 4/30/2025 $ 250,000 $ 250 ,000 0.40% Malaga Ba nk FSB 56102AAJ5 5129/2020 60 Mos 5129/2025 $ 250,000 $ 250,000 0.70%
A-4
CITY OF RANCHO PALOS VERDES
MONT HLY TREASURER'S REPORT
AUGUST2021
... _of Acquisition Maturity -Book --In-I CUIIIPt Dota Tarm Dota Value Value Y-oald
Manin Business
Bank 57116ATMO 1/1512020 60Mos 1/15/2025 $ 250,000 s 250,000 1.75%
Medallion Bank Utah 58404DFE6 9/18/2019 36Mos 9/19/2022 s 250,000 $ 250 ,000 1.70'!1,
Marricl< Bank 59013JC23 10/11/2017 60Mos 10/11/2022 $ 250,000 $ 250,000 2.10%
Mid-MisSOU'i Bank 59541KBP1 1/19/2018 60Mos 1/19/2023 $ 250,000 $ 250,000 2.35'!1,
Morgan Stanley PVT
Bank 61760AZ51 9119/2019 48Mos 9/19/2023 $ 250,000 s 250,000 1.85%
N-Yorl<
Community Bank 649447UP2 6/3/2021 36Mos 6/3/2024 s 250,000 $ 250,000 0.35%
Norttrfiled Bank 66612ABX5 10/2512017 SO Mos 10/25/2022 $ 250,000 s 250 ,000 2.15%
Peoples United Bank 71270QQJ8 1/18/2017 60Mos 1/18/2022 $ 250,000 s 250,000 2 .05'lli
Preferred Bank LA 740367MA2 7/17/20'20 60Mos 7/17/2025 $ 250,000 s 250,000 0 .50%
Raymond James
Bank 75472RAN1 11/26/2019 72Mos 11/26/2024 $ 250,000 $ 250,000 1.85%
Sallie Mae Bank/Salt
Lake 7954504P7 11/16/2019 60Mos 10/16/2024 s 250,000 $ 250,000 1.90'lli
Signature Bk
Chicago 82669VBY6 11/8/2017 60Mos 11/8/2022 $ 250,000 s 250,000 2.15'lli
State Bank of India 856285RS2 11/27/2019 72Mos 11/27/2024 s 250,000 $ 250,000 2.05'!1,
Sterling Bank POP
BLMO 85916VDN2 9/18/2019 48Mos 9/18/2023 $ 250,000 s 250,000 1.65'lli
Synchrony Bank 87165HRY8 6/2/2017 60Mos 6/2/2022 $ 250,000 $ 250,000 2.40'lli
BKCROW 88241TJJ0 10/23/2020 60Mos 10/23/2025 $ 250,000 s 250,000 0.60%
Texas Exchange
Bank 88241TJN1 11/2512020 60Mos 11/25/2025 $ 250,000 $ 250,000 0.60%
Texas Exchange
Bank 88241TJR2 12/18/2020 60Mos 12/18/2025 $ 250,000 s 250,000 060%
Third Fed Sav&Ln
Clevland 88413QBU1 11/24/2017 48Mos 11/24/2021 s 250 ,000 $ 250,000 2.10%
Toyota Financial
Svgs Bank 89235MLE9 7/29/2021 60Mos 7/29/202.6 $ 250,000 s 250,000 0.95'lli
USB Bank USA 90348JN30 6/24/2021 36Mos 6/24/2024 s 250,000 $ 250,000 0.35%
Vision Bank of Iowa 92834CCL4 11/29/2019 72Mos 11/29/2024 s 250,000 $ 250,000 1.75'lli
Wells Fargo Nat'I
Bank Wes1 949495AQ8 1/17/2020 36 Mos 1/17/2023 $ 250,000 s 250,000 1.90%
Wells Fargo Bank 949763D45 6/10/2019 36Mos 6/10/2022 s 250,000 s 250,000 250%
Treasury-Bank of N-Yorl<(Vining Sparks) United States Treas 912828S35 9/12/2019 45 Mos 6/30/2023 s 1,000,000 $ 1,000,000 1.38%
United States Treas 912828XZ8 6/30/2020 60Mos 6/30/2025 $ 1,000,000 $ 1,000,000 2.75%
United States Treas 91282CBC4 1/12/2021 60Mos 12/31/2025 s 2 ,000,000 s 2,000,000 0.38%
United States Treas 3133EMZ21 8/6/2021 54Mos 4/6/2026 $ 1,000,000 $ 1,000,000 0.69%
Total Investment $ 66,278,068
Sunmary: Weighted Return 0. 79%
Local AQency Investment Fund (LAIF-CITY) 41 ,247,470.99
CertiflCB!e of Deposit -Malaga Bank 250,000.00
Certif,cate of Deposit • Malaga Bank 4 ,030,596.85
Certificate of Deposit • Vining Sparks 15,750,000.00
Treasury Bills -Vining Sparks 5,000,000.00
Total Investment 66,278,067.84
A-5
Malaga Bank-CD
6%
NOTE:
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST2021
SUMMARY OF CASH BALANCE BY INSTITUTION
JUNE 2021
Vining Sparks -Treasury
7%
Bank of the West
7%
Vining Sparks -Money Market
0%
State of California -LAIF
S8%
(1) LAIF man<el values will be reported lo vary from book value ~ the City calculated share of tolal LAIF assets is lass lhan the City book value.
To the besl al my knOwledge, there are no misstatements al material amounts within this report;
or omissions al material amounts to cause lhe report lo be misleading.
I certify that this report accurately reflects all City investments and oomplies with Iha investment policy al the City
of Rancho Palos Verdes as approved by lhe City Council. Furthermore, I certify that sufficient inveslment liquidity
and anticipated revenues are available to meet the City's expenditure requirements for the next six monlhs.
c:::::
Dated