CC SR 20211102 D - City Sept 2021 Treasurer Report
CITY COUNCIL MEETING DATE: 11/02/2021
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the September 2021 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the September 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
September 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 $71.8 million, with approximately $41
million or 57% of the total cash balance in the Local Agency Investment Fund (LAIF). The
City has approximately $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 $390,000 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
In summary, the City’s General Fund has over $23 million or 33% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $27 million or 38% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with over
$2.6 million or 4%, approximately $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 approximately $10 million compared to the
September 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 $5 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 (August 2021), the City’s cash balance
increased by approximately $242,000, mainly attributed to the timing of disbursements
for City-approved projects. The major disbursements for this month included Aleshire &
Wynder for legal services, NR Development for the ADA project at Caddington, Johnson
Favaro for the Ladera Linda Project architecture design services, Hardy & Harper for the
roadway maintenance services, and Stay Green for the Landscape Maintenance Project.
All expenditures were disbursed in accordance with the Fiscal Year 2021-2022 budget.
2
A-1
BEGINN ING BALAN CE
PLUS : DEPOSITS
PLUS : INTEREST EARN INGS(1)
LESS : CHECK DISBURSE MENTS
LESS : ELECTRONIC DISBURSEMENTS(2)
ADJUSTM ENTS(3)
PLUS :TRANSFERSIN
LESS: TRANS FERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
Petty Cash
Bank and Merchant Fees
Bonk of the WHI
Opemlng
4 ,915,057 .03
2,476,513.00
(1,597,739.79)
(641 ,172.55)
(13 ,686.00)
5,138,971 .69
382,996.00
248,520.84
755.00
8,900.71
641 ,172.55
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2021
M ■loga Bonk
Non~otiable
PwttyCHh LAI F-CITY CD
5,000.00 41 ,247 ,470.99 4,280,596.85
5 ,000.00 41 ,247 ,470.99 4,280,596.85
Vining Spa r11■ Vining Spar11■
Money M■rt<ot Investment T-I Cl ■h
371 ,863.32 20,750,000.00 71 ,569,988.19
2,476,513.00
(1 ,597,739.79)
(641 ,172.55)
18,222.58 4,536.58
390,085.90 20,750,000.00 71 ,812,125.43
SEPTEMBER 2021 CASH BALANCE BY MAJOR FUNDS
1% r 1%
■GENERAL FUND 33%
■CIP 38%
■EQU IP M EN T REPLACEMENT 4%
■1911 ACT2%
DHABITAT RESTO RATION 1%
■QUIMBY 1%
■OTHER RESTRICTED FUNDS 21%
A-2
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted bv Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE PENSION PLAN
EMPLOYEE BENEFITS
Sublctal
Restricted bv Law or External Aaencies
STREET MAINTENANCE
1972 ACT
EL PRADO
CDBG
CDBG-R
1911ACT
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
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
Sublctal
GRAND TOTAL
BALANCE
FORWARD
24 ,149,626.57
0 .00
26 ,441 ,652 .77
2 ,608,682.42
0 .00
0 .00
0 .00
29,050,335.19
819,290 .90
29 ,1 24 .63
39 ,609 .44
24 ,675 .06
0 .00
1,427 ,129.08
426 ,384.94
152,622.76
714 ,681 .84
1,338 ,7 87 .30
104,205 .60
1,483,409 .18
415 ,012 .75
667,971 .97
743 ,911 .59
0.00
215,811 .18
0 .00
0.00
780,066 .25
0 .00
0 .00
4 ,967 ,429 .00
1,047 ,463 .86
224 ,066 .23
875 ,711.02
209 ,357.97
0 .00
0 .00
0 .00
0 .00
384 ,847 .59
0 .00
495 ,642.40
0 .00
782 ,813.89
18,370,026.43
71 ,569,988 .19
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2021
DEBIT CREDIT CASH
3,849,064.54 4,345,3TT .02 23,653,314 .09
0.00 0.00 0 .00
638 ,250 .00 8 ,488 .75 27,071 ,414 .02
77,100 .00 0.00 2 ,685 ,782 .42
0 .00 0.00 0 .00
76,750.00 0 .00 76,750 .00
0 .00 0.00 0 .00
792,100.00 8 ,488.75 29,833 ,946 .....
168,651 .66 119 ,556 .94 868 ,385 .62
0 .00 0.00 29 ,124.63
0 .00 0.00 39 ,609 .44
96 ,521 .24 121 ,196.30 0.00
0 .00 0 .00 0 .00
0 .00 28,927 .91 1,398 ,201 .17
31,532 .20 30 ,482 .75 427 ,434 .39
0 .00 0 .00 152,622 .76
69,597 .95 0 .00 784 ,279 .79
83,903.45 0.00 1,422 ,690 .75
0.00 50 ,000 .00 54 ,205 .60
52 ,163.52 7 ,792.57 1,527 ,780 .13
59 ,042 .33 41 ,256 .09 432 ,798 .99
0 .00 0.00 667 ,97 1.97
7,500 .00 3,575 .19 747 ,836 .40
61 ,436 .40 37 ,500 .00 23 ,936 .40
0 .00 12 ,892 .20 202 ,918 .98
000 0 .00 0.00
0.00 0 .00 0.00
0 .00 184.14 779 ,882 .11
0 .00 0.00 0 .00
241 ,44 1.07 201 ,278.79 40,162 .28
0 .00 0.00 4 ,967 ,429.00
0 .00 34 ,020 .00 1,013 ,443 .86
59 ,765.40 0 .00 283 ,831 .63
0 .00 0 .00 875 ,711 .02
3,902.00 0 .00 213,259 .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
95 ,262 .19 0 .00 480 ,1 09 .78
0.00 0 .00 0.00
0 .00 328 ,841 .89 166,800 .51
0 .00 0.00 0.00
27,358 .58 85 ,7 34 .75 724 ,437 .72
1,0SSOTT.99 1.103,239.52 18,324,864.90
5,699,242.53 5 ,457,105.29 71 ,812,125.43
Total Investment: 71 ,8 12,125.43
Change In
Ending Cash
Balance
(496,312 .48)
0 .00
629 ,761 .25
77,100 .00
0.00
76 ,7 50 .00
0 .00
783,611 .25
49 ,094 .72
0 .00
0 .00
(24 ,675 .06)
0 .00
(28 ,927 91]
1,049 .45
0.00
69 ,597 .95
83 ,9 03 .45
(50 ,000 001
44 ,370 .95
17 ,786 .24
0 .00
3,924 .81
23 ,936 .40
(12,892 .20]
0 .00
0 .00
(184 .14]
0.00
40 ,162.28
0.00
(34,020.00
59 ,765 .40
0 .00
3 ,902 .00
0.00
0 .00
0.00
0 .00
95 ,262 .19
0 .00
(328,841 89]
0.00
(58,376 .17
(45,161 .53)
242,137.24
Change In
Ending Cash
Balance in %
-2111,
0%
2%
3%
0%
0%
0%
3%
6%
0%
0%
-1 00%
0%
-2%
0%
0%
10%
6%
-48 %
3%
4%
0%
1%
0%
-6%
0%
0%
0%
0%
0%
0%
-3%
27%
0%
2%
0%
0%
0%
0%
25 %
0%
-66%
0%
-7%
0%
0%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY IN VESTMENT REPORT
SEPTEMBER 2021
Issuer of Acquisition Maturity Market Book
Investment Investment CUSI~ Date Tenn Date Val ue Val ue Yield
Local Agency Investment Fund (LAIF-CITY) State of California NIA NIA On Demand $ 41,247,471 $ 41,247,471 0.21%
Note (1)
CD -Non-Negotiable Malaga Bank 212312020 24 Mos 212112022 $ 250,000 $ 250,000 150%
CD -Non-Negotiable Malaga Bank 212312020 24 Mos 212112022 $ 4 ,030,597 $ 4 ,030,597 140%
CD -Bank of New York -Vining Sparks (Non-Allegiance Bank
Negotiable) Texas 01748DAY2 111312017 60 Mos 111312022 $ 250,000 $ 250,000 220%
Ally Bank 02007GKW2 712512019 36 Mos 7125/2022 $ 250 ,000 $ 250 ,000 215%
Amer ican Bank Na
Le Mars 024373AZ5 9/27/2019 36Mos 912712022 $ 250,000 $ 250,000 1.65%
American Express
Bank FSB 02587CHR4 12119/2017 48 Mos 1212012021 $ 250,000 $ 250,000 2.20%
American Express
Centurion 02587DN38 312112017 60 Mos 41512022 $ 250,000 $ 250,000 2.45%
AXOS Bank 05465DAK4 312612020 48 Mos 312612024 $ 250,000 $ 250,000 165%
BMW Bank of
Northern America 05580AB45 712312021 36 Mos 712312024 $ 250,000 $ 250,000 050%
Babin 06063HMT7 712212020 60 Mos 712212025 $ 250,000 $ 250,000 065%
Bank of Deerfield 061785EG2 912512019 42 Mos 3124/2023 $ 250,000 $ 250,000 1.65%
Bank Forward 062163BN9 1212812019 60 Mos 12118/2024 $ 250,000 $ 250,000 175%
HAPOAL 0 112
12115125 06251A2Q2 12/1412020 60Mos 1212512025 $ 250,000 $ 250,000 0 .50%
Bankers Bank
Madison WI 06610RAT6 12/2012017 48Mos 1212012021 $ 250,000 $ 250,000 215%
Bankunited 066519QK8 3/5/2021 60 Mos 31512026 $ 250,000 s 250,000 0.65%
Barclays Bank
Delaware 06740KKD8 711212017 60 Mos 711212022 $ 250,000 $ 250,000 220%
Baycoast Bank 072727AZ3 1124/2020 60 Mos 112412025 $ 250,000 $ 250,000 1.70%
Business Bk of St.
Louis 12325EHV7 711912017 60 Mos 711912022 $ 250,000 $ 250,000 2.05%
CIT Bank 12556LBB1 812312019 30 Mos 212312022 $ 250,000 $ 250,000 1.95%
Capital One Bank
USA 14042TBD8 712412019 36 Mos 712512022 $ 250,000 $ 250,000 2.10%
Celtic Bank 15118RUX3 411712020 60 Mos 411712025 $ 250,000 $ 250 ,000 150%
Connectone Bank 20786ADL6 912412021 60 Mos 912712026 $ 250,000 $ 250,000 080%
Crossfirst Bank 22766ABB0 619/2017 60 Mos 6/912022 $ 250,000 $ 250,000 2.05%
Eaglebank 27002YET9 1117/2020 36Mos 111712023 $ 250,000 $ 250,000 1.70%
East Boston Savings
Bank 27113PBM2 112012017 60Mos 112012022 $ 250,000 $ 250,000 2 00% E nerbank USA 29266N6P7 10113/2017 48 Mos 10/1312021 $ 250,000 $ 250 ,000 200%
Farmers&Merchants
BK NEB 30781TBD9 111812017 60 Mos 111812022 $ 250,000 $ 250 ,000 2.05% First Bank of
Highland 319141GE1 6f7/2017 60 Mos 6f7/2022 $ 250,000 $ 250,000 210%
First Financial Bank 32021MFC8 212112018 48 Mos 212212022 $ 250,000 $ 250,000 2.45% First Internet Bank of
In 32056GCQ1 711412017 60 Mos 711412022 $ 250,000 $ 250 ,000 2 .05% First National Bank
of America 32110YJT3 112012017 60 Mos 112012022 $ 250,000 $ 250,000 2.00% Flagstar Bank 33847E2J5 611212019 36 Mos 6113/2022 $ 250,000 $ 250,000 2.50% Goldman Sachs
Bank USA 38149MAU7 513112019 36Mos 513112022 $ 250,000 $ 250,000 2.50% Henry County Bank
OH 426336BF9 1/27/2017 60 Mos 112712022 $ 250,000 $ 250,000 1.90% lndustrial&Com Bank
China 45581EAF8 61212017 60 Mos 61212022 $ 250,000 $ 250 ,000 2 .05% ICBANK 46147UUF5 112712021 60 Mos 112712026 $ 250,000 $ 250 ,000 050% JP Morgan Chase
Bank 48128UMX4 913012020 60 Mos 913012025 $ 250,000 $ 250,000 0.30% LCA Bank Corp 801798LK6 1/1212018 60 Mos 111212023 $ 250,000 $ 250 ,000 2 .35% Landmark
Community Bank 51507LBV5 812312019 36 Mos 212312022 $ 250,000 $ 250,000 1.90% MAGBNC 559582AL5 1013012020 54 Mos 413012025 $ 250,000 $ 250,000 0.40% Malaga Bank FS B 56102AAJ5 5/2912020 60 Mos 5/2912025 $ 250,000 $ 250,000 070%
A-4
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2021
laauer of Acquiaitfon Maturity M ■rttet Boole
In-..,_nt CUIIIPt Data Tenn Data V■lue Value r-
Marlin Business
Bank 57116ATMO 1/1512020 60Mos 1/1512025 s 250 ,000 s 250,000 1.75%
Medallion Bank Utah 58404DFE6 9/18/2019 36Mos 9/19/2022 $ 250,000 $ 250,000 1.70%
Merrick Bank 59013JC23 10/11/2017 60Mos 10/11/2022 $ 250,000 $ 250,000 2.10%
Mid-Missouri Bank 59541KBP1 1/19/2018 60Mos 1/19/2023 $ 250,000 $ 250,000 2 .35%
Morgan Stanley PVT
Bank 61760AZ51 9/19/2019 48Mos 9119/2023 $ 250,000 s 250,000 1.85%
New York
Community Bank 649447UP2 6/3/2021 36Mos 6/3/2024 $ 250,000 $ 250,000 0.35%
Northfiled Bank 66612ABX5 10/25/2017 60Mos 10/25/2022 s 250 ,000 $ 250,000 2.15%
Peoples United Bank 71270QQJ8 1/18/2017 60 Mos 1/18/2022 $ 250,000 $ 250,000 2.05%
Preferred Bank LA 740367MA2 7/17/2020 60Mos 7/17/2025 s 250,000 $ 250,000 0.50%
Raymond James
Bank 75472RAN1 11/26/2019 72 Mos 11/26/2024 $ 250,000 $ 250,000 1.85%
Sallie Mae Bank/Salt
Lake 7954504P7 11/1612019 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 s 250,000 2.15%
Stale Bank of India 856285RS2 11/27/2019 72Mos 11/27/2024 $ 250,000 $ 250,000 2.05%
Sterling Bank POP
BLMO 85916VDN2 9/18/2019 48Mos 9/16/2023 $ 250,000 s 250,000 1.65%
Synchrony Bank 87165HRY8 6l2/2017 60Mos 6/2/2022 $ 250,000 s 250,000 2 .40%
BKCROW BB241TJJO 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 s 250,000 0.60%
Texas Exchange
Bank 88241TJR2 12/18/2020 60Mos 12/18/2025 s 250,000 $ 250,000 0.60%
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 7/29/2026 $ 250,000 $ 250,000 0.95% use Bank USA 90348JN30 6/24/2021 36Mos 6124/2024 $ 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%
Wells Fargo Nat'I
Bank West 949495AQ8 1/17/2020 36Mos 1/17/2023 s 250,000 $ 250,000 1.90%
Wells F ergo Bank 949763045 6/10/2019 36Mos 6/10/2022 $ 250,000 $ 250,000 2.50%
Treasury -Bank of New York(Vining Sparks) United States Treas 912828S35 9/12/2019 45Mos 6/30/2023 s 1,000,000 $ 1,000 ,000 1.38%
United States Treas 912828XZ8 6/30/2020 60Mos 6/30/2025 s 1,000,000 $ 1,000,000 2.75%
Unrted States Treas 91282CBC4 1/12/2021 60Mos 12131/2025 s 2 ,000,000 $ 2,000,000 0.38%
United States Treas 3133EMZ21 81612021 54Mos 4/6/2026 $ 1,000,000 $ 1,000,000 0.69%
Total Investment $ 66,278,068
Summary :
Weighted Return 0.77%
Local Agency Investment Fund (LAIF-CITY) 41,247,470.99
Cerlilicate of Deposrt -Malaga Bank 250,000.00
Ceriilicate of Deposit -Malaga Bank 4,030,596.85
C8rlilicate 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
MONTH LY TREASURER'S REPORT
SEPTEMBER 2021
SUMMARY OF CASH BALANCE BY INSTITUTION
SEPTEMBER 2021
Vining Sparks• Treasury
7%
Bank of the West
7%
Vining Sparks· Money Market
1%
State of californla • LAIF
57%
(1) LAJF mar1<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 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 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 are available to JM8t the City's expenditure requirements for the next six months.