CC SR 20220719 E - May Treasury Report 2022 City
CITY COUNCIL MEETING DATE: 07/19/2022
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the May 2022 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the May 2022 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
May 2022. 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 $92 million, with over $58 million or
63% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has
over $5 million or 6% of the total cash balance with Bank of the West and over $4 million
or 5% with Malaga Bank. In addition, the City has Certificates of Deposit (CD) investments
at $18 million or 20%, Treasury Bills at $5 million or 6% of the total cash balance, and a
money market account of over $1 million or 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 $33 million or 37% in the cash balance,
and the Capital Infrastructure Program (CIP) Fund has approximately $36 million or 39%
in cash balance. The remaining cash balances are in the Equipment Replacement Fund
with over $2.8 million or 3%, approximately $2 million or 2% in the 1911 Act Fund, over
$0.4 million or less than 1% in the Habitat Restoration Fund, over $0.7 million or 1% in
the Quimby Fund, and over $16 million or 18% in Other Restricted Funds.
The City’s cash balance increased by approximately $23 million compared to the May
2021 balance. As reported in the prior month’s report, the significant overall increase in
cash balance included the American Rescue Plan Act of $4.9 million, $8 million from Bank
of the West for the funding of the Ladera Linda Community Park Project, and the
remaining $10.1 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, April 2022, the City’s cash balance
increased by $3.8 million, mainly attributed to the loan from Bank of the West and the
timing of disbursements for City-approved projects. The major disbursements for this
month included Aleshire & Wynder for legal services, Bucknam Infrastructure for the
pavement management program, Fire Grazers for goat grazing fuel modification at
preserve areas, Griffin Structures for construction management for the Ladera Linda
Community Park Project, Hout Construction Services for the Portuguese Bend Landslide
project, the Los Angeles County Sheriff’s Department for law enforcement services , and
the Abalone Cove Landslide Abatement and Klondike Canyon Geologic Hazard
Abatement District for annual maintenance services. All expenditures were disbursed in
accordance with the Fiscal Year 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 inter est i s paid quarterly.
(2) Electron ic D isbursements:
Payroll
Payroll Charges
Petty Cash
Bank and Merchant Fees
Bank of the West
Operating
3 ,171 ,917.18
5 ,971 ,319.76
{1,780,192.04)
(665 ,988.30 )
1,091 .5 1
(1 ,240,000 00 )
5,458,1 48.11
403,423.5 1
249,414.40
1,315.00
1 1,835.39
665,988 .30
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2022
Malaga Bank
Non-Negotiable Vining Sparks
Petty Cash LAIF-CITY CD Money Market
5 ,000.00 58,332 ,197 .54 4,308,936.63 31,024 .24
7,890.86
(228,594 .12)
1,240,000.00
5,000.00 58,332 ,197 .54 4 ,316 ,827.49 1,042,430.1 2
(3) T he net adjustment was due to a void check a nd misce ll aneous adj ustmen t.
MAY 2022 CASH BALANCE BY MAJOR FUNDS
0%1%
I ,-
Vining Sparks
Investment Total Cash
22,500 ,000.00 88,349,075.59
5 ,971 ,319 .76
7,890.86
(1 ,780,19204)
(665,988.30)
(227 ,502.6 1)
500,000.00 1,740,000.00
(1 ,240,000.00)
23,000,000.00 92 ,154 ,603.26
■GENERAL FUND 37%
■CIP 39%
■EQU I PMENT REPLACEMENT 3%
■1911 ACT 2%
CHABITAT RESTORATION 0 %
DOU IMBY 1%
COTHER RESTRICTED FUNDS 18%
A-2
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQU IPMENT REPLACEMENT
BU IL DING REPLACEMENT
EMPLOYEE PENSION PLAN
EMPLOYEE BENEF ITS
Su btotal
Restricted by Law or External Agencies
STREET MAINTENANCE
1972 ACT
EL PRADO
CDBG
CDBG-R
1911 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOS ITION C
PROPOS IT ION A
PUBLIC SAFETY GRANTS
MEASURER
MEASURE M
HABITAT RESTORAT ION
SUBREGION 1 MAINTENANCE
MEASURE A MAINTENANCE
ABALONE COVE SEWER DISTR ICT
RPVTV
G INSBURG CULTURE ARTS BUILD ING
DONOR RESTR ICTED CONTRIBUTIONS
FEDERAL GRANTS
STATE GRANTS
FEDERAL GRANTS-ARPA
QUIMBY
LOW-MODERATE IN COME HOUSING
AFFORDABLE HSNG IN LIEU
EET
MEASURE A CAPITAL
BIKEWAYS
UNDERGROUND UTILITIES
ROADWAY BEAUTIFICATION
MEASURE W
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGAT ION RETIRE
IMPROVEM ENT DISTR ICT 9
SPECIAL TRUSTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
29,849 ,073.62
0 .00
36 ,082 ,512.66
2 ,809 ,923 .24
0 .00
480 ,835.42
0.00
39 ,373 ,271.32
1,162 ,515.12
29 ,263.44
42 ,383.49
11,196.36
0.00
1,893 ,631.92
343 ,308.42
139,028 .12
638 ,1 63 .08
1,648,273 .62
146,090.83
1,831 ,096 .55
5 12,669 .73
403,810 .68
739 ,807 .51
0.00
163 ,502 .92
0.00
0.00
798,447 .83
0 .00
0.00
4 ,649 ,893.42
761,311 .03
285 ,121.15
879 ,884 .76
136 ,820.56
0 .00
0.00
0.00
0.00
838 ,233 .34
0.00
167 ,667.90
0 .00
904 ,608 .87
19,1 26 ,730.65
88 ,349 ,075.59
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER 'S REPORT
MAY 2022
DEBIT CREDIT CASH
8 ,628 ,949 .14 4 ,810 ,96 7.75 33 ,667 ,055.01
0 .00 0 .00 0 00
0 .00 89 ,892.03 35 ,992 ,620 .63
0 .00 2 ,195.93 2 ,807 ,727.31
0 .00 0 .00 0 .00
0 .00 0 .00 480 ,835.42
0 .00 0 .00 0.00
0 .00 92 ,087.96 39 ,281 ,1 83 .36
148,532 .72 90 ,181.67 1,220 ,866.17
0.00 0 .00 29 ,263.44
295.51 0 .00 42 ,679 .00
656 .00 5,623.80 6 ,228.56
0 .00 0 .00 0.00
76 ,239 .68 36 ,824 .16 1,933 ,047.44
9,581 .23 25,401 .95 327 ,487.70
0 .00 4 ,500 .00 134 ,528 .1 2
79 ,226.20 41,134 .92 676 ,254.36
95 ,513 .75 0.00 1,743,787 .37
0 .00 0 .00 146 ,090.83
59 ,370 .63 23 ,874 .09 1,866 ,593.09
0 .00 20 ,475 .84 492 ,193.89
0 .00 197 .10 403 ,613.58
41 .56 904.79 738 ,944.28
0 .00 0 .00 0 .00
5,759 .80 3 ,546.25 165,716.47
0.00 0.00 0.00
0.00 0 .00 0.00
6 ,000 .00 2 ,130.29 802 ,317 .54
0 .00 0.00 0.00
0.00 0 .00 0.00
3,357.50 76 ,439 .88 4 ,576 ,811 .04
0 .00 28 ,764 .38 732 ,546 .65
0.00 0 .00 285 ,121 .1 5
0.00 0 .00 879 ,884 76
0.00 10 ,509 .00 126 ,311 .56
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 3 1,697 .63 806 ,535 .71
0.00 0 .00 0.00
0.00 0 .00 167 ,667 .90
0 .00 0.00 0.00
36 ,627.50 39 ,362 .09 901 ,874.28
521 ,202.08 44 1,567 .84 19,206,364 .89
9,150,151 .22 5,344 ,623 .55 92, 154,603.26
Total Investment: 92 ,154 ,603 .26
Change In
Ending Cash
Bala nce
3 ,8 17 ,981 .39
0 .00
(89 ,892 .03)
(2 ,195.93)
0 .00
0.00
0.00
(92 ,087 .96)
58 ,351 .05
0 .00
295 .51
(4,967.80)
0.00
39 ,415 .52
(15,820.72)
(4,500.00)
38 ,091 .28
95,513 .75
0.00
35,496.54
(20 ,475 .84 )
(197.10)
(863.23)
0 .00
2,2 13.55
0.00
0.00
3,869 .71
0.00
0.00
(73 ,082 .38)
(28,764 .38)
0.00
0.00
(10 ,509 .00)
0.00
0.00
0.00
0.00
(31 ,697 .63)
0.00
0 .00
0.00
(2,734 .59)
79,634 .24
3 ,805,527.67
Change In
Ending Cash
Balance in %
13%
0%
0%
0%
0%
0%
0%
0%
5%
0%
1%
-44 %
0%
2%
-5%
-3%
6%
6%
0%
2%
-4%
0%
0%
0%
1%
0%
0%
0%
0%
0%
-2 %
-4%
0%
0%
-8%
0%
0%
0%
0%
-4%
0%
0%
0%
0%
0%
4 %
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
MAY 2022
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP# Date Term Date Value Value Yield
Loca l Agency Investment Fund (LAIF-C ITY ) State of Cali fornia NIA NIA On Demand $ 58,332 ,198 $ 58,332 ,198 0.68%
Note (1)
CD -Non-Negotiable Malaga Bank 212312022 6Mos 812212022 $ 250,000 $ 250,000 0.20%
CD -Non-Negotiable Malaga Bank 212312022 6Mos 812212022 $ 4,066,827 $ 4,066,827 0.20%
CD -Bank of New York -Vining Sparks (Non-Allegiance Bank
Negot iable ) Texas 01748DAY2 1 1/3/2017 60 Mos 1113/2022 $ 250,000 $ 250,000 2.20%
Ally Bank 02007GKW2 7125/2019 36 Mos 712512022 $ 250,000 $ 250,000 2.15%
American Bank Na
Le Mars 024373AZ5 9/27/2019 36Mos 9/27/2022 $ 250,000 $ 250,000 1.65%
Amer ican Expr Natl
Bank 02589ABM3 3/3/2022 36Mos 31312025 $ 250,000 $ 250,000 1.80%
AUBSTB 05059LAC6 3/3112022 48 Mos 3/3112026 $ 250,000 $ 250 ,000 2 .10%
AXOS Bank 05465DAK4 3/2612020 48 Mos 3126/2024 $ 250,000 $ 250 ,000 1.65%
BMW Bank of
Northern America 05580AB45 7/2312021 36Mos 7/23/2024 $ 250,000 $ 250,000 0.50%
Sob in 06063HMT7 7/2212020 60 Mos 7122/2025 $ 250,000 $ 250,000 0.65%
Bank of Deerfield 061785EG2 9/25120 19 42 Mos 3124/2023 $ 250 ,000 $ 250,000 1.65%
Bank Forward 062163BN9 12128/2019 60Mos 12/1812024 $ 250,000 $ 250,000 1.7 5%
HAPOAL 0 1/2 0625 1A2Q2 12114/2020 60 Mos 12/2512025 $ 250,000 $ 250,000 0.50%
Bankbk 2 .05 06610RBL2 4/14/2022 42 Mos 10/14/2025 $ 250,000 $ 250,000 2.05%
Bankun ited 0665 19QK8 31512021 60 Mos 3/5/2026 $ 250,000 $ 250,000 0.65%
Barclays Ban k
Delaware 06740KKD8 7112/2017 60 Mos 7/1212022 $ 250,000 $ 250,000 2 .20%
Baycoast Bank 072727AZ3 1124/2020 60Mos 1/2412025 $ 250,000 $ 250,000 1.70%
Beal Bank USA 07371CK32 3/412022 48Mos 314/2026 $ 250,000 $ 250,000 1.90%
Business Bk of St.
Lou is 12325EHV7 7119/2017 60Mos 7119/2022 $ 250,000 $ 250,000 2.05%
CIT Bank 12556LBB1 8123/2019 30 Mos 2/23/2022 $ 250,000 $ 250,000 1.95%
Capital On 1.100 14042RQB0 1 1/3012021 60 Mos 11117/2026 $ 250,000 $ 250,000 1.10%
Capital On 2.800 14042RQS3 4/20/2022 60 Mos 4120/2027 $ 250,000 $ 250,000 2 .80%
Capital One Bank
USA 14042TBD8 7/2412019 36 Mos 7125 /2022 $ 250 ,000 $ 250 ,000 2 .10%
Celtic Bank 151 18RUX3 4/1712020 60 Mos 41 17/2025 $ 250,000 $ 250 ,000 1.50%
Comenity C 2.650 20033A3A2 4/14/2022 60 Mos 41 14/2027 $ 250,000 $ 250 ,000 2.65%
ConnectnnP. R,mk '.:,0786AD L6 9/241202 1 RO Mns 9/?7/?0?n $ ?50,000 $ 250,000 0.80%
Connexus Cred it
Un ion 20825WAT7 5/2712022 36 Mos 512712025 $ 250,000 $ 250,000 3.00%
Crossfi rst Ban k 22766ABB0 6/9/2017 60 Mos 6/9/2022 $ 250,000 $ 250 ,000 2 .05%
Discover Bank 254673870 4/28/2022 36 Mos 4/2812025 $ 250,000 $ 250,000 2 .80%
Eaglebank 27002YET9 1/17/2020 36 Mos 1/1712023 $ 250,000 $ 250,000 1.70%
Eag lemark Savings
Bank 27004PCM3 3/2/2022 60 Mos 31212027 $ 250,000 $ 250,000 2 .00%
FMBKWI 1.2 307811DP1 111 4/2022 60 Mos 1/14/2027 $ 250,000 $ 250,000 1.20%
First Bank of
High land 319141GE1 617/2017 60Mos 617/2022 $ 250,000 $ 250 ,000 2 .10%
FNWB 32022EAW6 12/2912021 60 Mos 12/2912026 $ 250,000 $ 250 ,000 1.05%
First Internet Bank of
In 32056GCQ1 7/14/2017 60 Mos 71 14/2022 $ 250,000 $ 250,000 2.05%
First Natl
Bank/DAMA 321 17BEQ7 12/30/2021 60Mos 12/30/2026 $ 250,000 $ 250,000 1.25%
Flagstar Bank 33847E2J5 6/12120 19 36 Mos 61 1312022 $ 250,000 $ 250,000 2.50%
Generations Bank 37149CAX5 511212022 60 Mos 5/1212027 $ 250,000 $ 250,000 3.10%
Greenstate Credit
Union 39573LAC2 5/29/2022 2 Mos 7/2912022 $ 250,000 $ 250,000 2.20%
lndustria l&Com Bank
China 45581EAF8 612120 17 60 Mos 61212022 $ 250 ,000 $ 250,000 2.05%
lntercredit Ban k NA 458657MC4 1120/2022 60Mos 1/29/2027 $ 250,000 $ 250,000 1.35%
JP Morgan Chase
Bank 48128UMX4 9130/2020 60 Mos 9130/2025 $ 250,000 $ 250,000 0.30%
LCA Bank Corp 80 1798LK6 1112/2018 60 Mos 1112/2023 $ 250,000 $ 250,000 2.35%
Live Oak Bankinig 538036UG7 2/1/2022 48 Mos 2/2/2026 $ 250,000 $ 250,000 1.25%
MAGBNC 559582AL5 10/30/2020 54 Mos 4130/2025 $ 250,000 $ 250,000 0.40%
Ma laga Bank FSB 56102AAJ5 5/29/2020 60 Mos 5129/2025 $ 250,000 $ 250,000 0.70%
A-4
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2022
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP# Date Term Date Value Value Yield
Marlin Business
Bank 571 16ATMO 1/15/2020 60Mos 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 Ban k 59013JC23 10/11/2017 60 Mos 10/11/2022 $ 250 ,000 $ 250,000 2 .10%
Mid-M issouri Ban k 59541KBP 1 1/1 9/2018 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 1.85%
NCWI 1.1 5 633368FJ9 1/19/2022 60 Mos 1/19/2027 $ 250,000 $ 250,000 1.15%
New York
Community Bank 649447UP2 6/3/2021 36 Mos 6/3/2024 $ 250 ,000 $ 250,000 0.35%
Northfil ed Bank 66612ABX5 10/25/2017 60 Mos 10/25/2022 $ 250,000 $ 250 ,000 2 .15%
Olddnb 1.5 679585AZ2 1/20/2022 60 Mos 1/20/2027 $ 250,000 $ 250 ,000 1.15%
Olmbmo2.65 68002LCN6 4/29/2022 54 Mos 10/29/2026 $ 250,000 $ 250,000 2 .65%
Pathfinder Bank 70320KBR1 1/29/2022 60 Mos 1/29/2027 $ 250 ,000 $ 250,000 1.20%
Bpop 2.45 73317AAY8 4/14/2022 36 Mos 4/14/2025 $ 250 ,000 $ 250 ,000 2.45%
Preferred Bank LA 740367MA2 7/17/2020 60Mos 7/17/2025 $ 250,000 $ 250 ,000 0 .50%
Raymond James
Bank 75472RAN1 1 1/26/2019 72 Mos 11/26/2024 $ 250,000 $ 250,000 1.85%
Sallie Mae Ban k/Sa lt
Lake 7954504P7 1 1/16/2019 60 Mos 10/16/2024 $ 250 ,000 $ 250,000 1.90%
Signature Bk
Chi cago 82669VBY6 11/8/2017 60 Mos 11/8/2022 $ 250,000 $ 250 ,000 2 .15%
State Bank of India 856285RS2 1 1/27/2019 72 Mos 11/27/2024 $ 250,000 $ 250,000 2 .05%
Sterling Bank POP
BLMO 85916VDN2 9/18/2019 48 Mos 9/18/2023 $ 250 ,000 $ 250,000 1.65%
Synchrony Bank 87165HRY8 6/2/2017 60 Mos 6/2/2022 $ 250,000 $ 250 ,000 2.40%
BKCROW 88241TJJO 10/23/2020 60 Mos 10/23/2025 $ 250,000 $ 250 ,000 0.60%
Texa s Exchange
Ban k 88241TJN1 1 1/25/2020 60 Mos 11/25/2025 $ 250,000 $ 250,000 0 .60%
Texas Exchange
Ban k 88241T JR2 12/18/2020 -60 Mos 12/18/2025 $ 250,000 $ 250,000 0 .60%
Toyota Financial
Svgs Ba nk 89235MLE9 7/29/2021 60 Mos 7/29/2026 $ 250,000 $ 250 ,000 0.95%
USS Bank USA 90348JN30 6/24/2021 36 Mos 6/24/2024 $ 250,000 $ 250,000 0 .35%
Un ited Ban kers Bank 909557J P6 12/16/2021 56 Mos 8/17/2026 $ 250,000 $ 250,000 1.00%
Vis ion 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 36Mos 6/10/2022 $ 250,000 $ 250,000 2 .50%
Treasury-Ba nk of New York(Vining Sparks) Un it ed States Treas 912828S35 9/12/20 19 45 Mos 6/30/2023 $ 1,000,000 $ 1,000,000 1.38%
Un it ed States Treas 9 12828XZ8 6/30/2020 60 Mos 6/30/2025 $ 1,000,000 $ 1,000,000 2 .75%
Un ited States Tr eas 91282CBC4 1/12/2021 60 Mos 12/31/2025 $ 2,000,000 $ 2 ,000,000 0 .38%
Un ited States Treas 3133EMZ21 8/6/2021 54 Mos 4/6/2026 $ 1,000,000 $ 1,000,000 0 .69%
Total Investment $ 85,649,025
Summary: Weighted Return 0 .91%
Local Agency Investme nt Fund (LAIF-CITY) 58,332,197 .54
Certificate of Deposi t -Malaga Bank 250,000 .00
Certificate of Deposi t -Malaga Bank 4 ,066,827 .49
Certificate of Deposit -Vining Sparks 18,000 ,000.00
Treasury Bill s -Vining Sparks 5,000,000.00
Total Investment 85,649,025.03
A-5
Malaga Bank -CD
5%
NOTE :
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MAY 2022
SUMMARY OF CASH BALANCE BY INSTITUTION
MAY 2022
Vining Sparks -Treasury
5%
Bank of the West
6%
State of Ca lifornia -LAIF
63%
-Vining Sparks -Money M a rket
1%
( 1) LAI F market va lues will be reported to vary from book value if th e City ca lculated sh are of total LAIF assets is less than the City book va lue .
To the best of my k nowledge, there are no misstatements of material amounts within this report;
or o mi ssions of materia l amounts to ca use the report to be mislead ing
I certify that this r eport accurately r eflects a ll City investments and comp lies with the investm ent poli cy of the City
of Ra ncho Pa los Verdes as approved by the City Council. Furthermore, I cert ify that suffic ient investm ent li quid ity
and anticipated revenues are available to meet the City's exp end iture requi remen ts for the next six month s.
Respectfull y subm itted ,
Dated