CC SR 20220118 F - November Treasury Report
CITY COUNCIL MEETING DATE: 01/18/2022
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the November 2021 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the November 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
November 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 $71.2 million, with approximately $41
million or 58% of the total cash balance in the Local Agency Investment Fund (LAIF). The
City has approximately $5.4 million or 8% 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 of approximately $15 million or 21%, Treasury Bills at $5 million
or 7% of the total cash balance, and a money market account of over $34,000 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
In summary, the City’s General Fund has over $22 million or 32% 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%, over $1.3 million or 2% in the 1911 Act Fund, over $0.4 million or 1%
in the Habitat Restoration Fund, approximately $1 million or 1% in the Quimby Fund, and
over $15 million or 22% in Other Restricted Funds.
The City’s cash balance increased by approximately $12 million compared to the
November 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 $7.1 million is a combination of an increase in revenues and timing of
disbursements in General Fund and Other Special Revenue funds.
In comparison to the balance from last month (October 2021), the City’s cash balance
increased by approximately $0.8 million, 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 the Ladera Linda Community Park
Project’s architectural design services, Stay Green for the Landscape Maintenance
Project, and West Coast Arborist for the Tree Trimming Project . All expenditures were
disbursed in accordance with the Fiscal Year 2021-2022 budget.
2
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS: TRANSFERS IN
LESS: TRANSFERS OUT
ENDING BALANCE
(1) All LAIF inlerest is paid quarterly.
(2) Electronic Disbursemenls:
Payroll
Payroll Charges
Bank and Merchant Fees
Bank of the W■at
Operating
3,664,897.86
2,377,610.50
(884,067 .19)
(669,296.67)
(580.23)
1,100,000.00
(200,000.00)
5,388,564.27
403,126.63
255,269.60
10,900.44
669,296.67
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2021
Malaga Bank
Non-Negotjabta
Petty caah LAIF-C llY CD
5,000.00 41,272,204.14 4 ,294,741.92
5,000.00 41,272,204.14 4,294,741 .92
Vining Sparks Vining Spark■
Money Markel lnVNbnont TomlC.111
659,947.36 20,500,000.00 70,396,791 .28
2,377,610.50
(884,067.19)
(669,296.67)
(625,921.39) (250,000.00) (876,501.62)
1,100,000.00
(200,000.00)
34,025.97 20,250,000.00 71,244,536.30
NOVEMBER 2021 CASH BALANCE BY MAJOR FUNDS
1% 1%
■GENERAL FUND 32%
■CIP 38%
■EQUIPMENT REPLACEMENT 4%
■1911A CT2%
Cl HABITAT RE STORATION 1%
■QUIMBY 1%
■OTHER RESTRICTED FUNDS 22%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICAT ION FUND
CIP
EQU IPMENT REPLACEMENT
BUI LDING REPLACEMENT
EMPLOYEE PENSION PLAN
EMPLOYEE BENEFITS
SubCotal
Restricted by Law or External Agencies
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 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
MEASUREW
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRANO TOTAL
BALANCE
FORWARD
22,266,007.42
0 .00
27 ,074,995 .23
2,681 ,168.32
0 .00
76 ,790 .52
0 .00
29,832,954 .07
872 ,735 .78
29 ,170 .74
39 ,672 .09
13,389 .26
0.00
1,386 ,206.40
398 ,900 .20
139,359 .55
853,058 .62
1,514,074 .89
128,606 .23
1,577 ,703.63
420,174 .55
480,974 .36
744,659 .46
23 ,949 .04
178,056 .85
0 .00
0.00
781 ,875 .40
0.00
40,183 .48
4 ,975 ,296 .73
1,015,057 .30
284 ,217 .88
877,097 .26
182 ,971 .90
0 .00
0 .00
0 .00
0 .00
456 ,422 .23
0.00
167 ,136 .72
0.00
716,879 .24
18,297,829.79
70,396,791.28
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2021
DEBIT CREDIT CASH
4 ,411 ,667.43 3 ,818 ,491 .02 22 ,859 , 183.83
0.00 0.00 0 .00
0.00 10 ,192 .50 27 .064 ,802 .7 3
0.00 2 ,195 .93 2,678 ,972 .39
0 00 0.00 0 .00
0.00 0.00 76 ,790 .52
0,00 0.00 0.00
0 .00 12,388 .43 29,820,565 .64
226,597.05 43 ,810 .48 1,055 ,522 .35
0.00 0.00 29 ,170.74
49 .68 000 39 ,72 1.77
5,023.00 0 .00 18,412 .26
0.00 0.00 0 .00
12,717 .07 28 ,366 .09 1,370 ,557 .38
3,979 .66 33 ,944 .42 368 ,935.44
0.00 4 ,500 .00 134 ,859 .55
67 ,211 .36 4 ,369 .50 915 ,900.48
81 ,027.93 0.00 1,595 ,102 .82
34 ,677 .23 0.00 163 ,283.46
50 ,576 .72 2 ,655 .08 1,625 ,625 .27
66 ,456.32 36 ,349 11 450 ,28 1.76
0.00 86 .75 480 ,887 .61
0.00 3,431 .80 741 ,227 .66
0.00 0.00 23 ,949 .04
620 .10 1,472 .37 177 ,204 .58
0.00 0 .00 0 .00
0.00 0.00 0 .00
0.00 2 ,066 .97 779 ,808 .43
0.00 0.00 0.00
0.00 690 .00 39 ,493 .48
0.00 2 ,880 .00 4,972 ,416 .73
0.00 103 ,245 .00 911 ,812 .30
0.00 0 .00 284 ,217 .88
0.00 0 00 877 ,097 .26
3,902 .00 10 ,509 .00 176 ,364 .90
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 5 ,328 .98 451 ,093 .25
0.00 0.00 0 .00
0.00 0 .00 167 ,136 .72
0.00 0 .00 0.00
23,750.50 25 ,926 .03 714 ,703 .71
576,588.62 309,631.58 18,564,786.83
4 ,988,256.05 4 ,140,511 .03 71 ,244,536 .30
Total Investment: 71 ,244 ,536 .30
Change In
Ending Cash
Balance
593,176 .41
0 .00
(10 ,192 .50)
(2 ,195 .93 )
0 ,00
0 .00
0 .00
(12,388.43
182 ,786 .57
0 .00
49 .68
5,023 .00
0 00
(1 5,649 .02 )
(29,964 .76
(4 ,500 .00
62 ,841 .86
81 ,027 .93
34 ,677 .23
47 ,921 .64
30 ,107.2 1
(86 .75)
(3,431 .80
0 .00
(852 27)
0 .00
0 00
(2 ,066.97
0 .00
(690 .00
(2 ,880 .00
(103,245 .00
0 .00
0 .00
(6 ,607 .00 )
0 .00
0.00
0 .00
0 .00
(5,328 .98)
0 .00
0.00
0.00
(2 ,175.53
266 ,957.04
847,745.02
Change In
Ending Cash
Balance in %
3%
0%
0%
0%
0%
0%
0%
0%
21%
0%
0%
38 %
0%
-1%
-8 %
-3%
7%
5 %
27 %
3%
7%
0%
0%
0%
0%
0%
0%
0%
0%
-2 %
0%
-10%
0%
0%
-4 %
0%
0%
0%
0%
-1 %
0%
0%
0%
0%
1%
1%
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
NOVEMBER 2021
luuerof Acqui•ttion Maturity Market Book
ln -trnent In-cusn•• Data Tenn Data Value Value Yield
Local Agency Investment Fund (LAIF-CITY) State of CalWom ia NIA NIA On Demand $ 41 ,272,204 $ 41 ,272,204 0 .20%
Note (1)
CD -Non-Negotiable Malaga Bank 2123/2020 24 Mos 212112022 $ 250,000 $ 250,000 1.50%
CD -Non-Negotiable Malaga Bank 212312020 24Mos 212112022 $ 4,044,742 $ 4,044,742 1.40%
CD -Bank of New Yori< -Vining Sparl<s (Non-Allegiance Bank
Negotiable) Texas 01748DAY2 11/312017 60Mos 1113/2022 $ 250,000 $ 250,000 2.20%
Ally Bank 02007GKW2 712512019 36 Mos 712512022 $ 250,000 $ 250,000 2 .15%
American Bank Na
Le Mars 024373AZ5 9/2712019 36 Mos 9127/2022 $ 250,000 $ 250,000 1.65%
American Express
Bank FSB 02587CHR4 12119/2017 48 Mos 12/2012021 $ 250,000 $ 250,000 2 .20%
American Express
Centurion 02587DN38 312112017 60Mos 41512022 s 250 ,000 $ 250,000 2.45%
AXOS Bank 05465DAK4 3/2612020 48Mos 3126/2024 $ 250,000 $ 250,000 1.65%
BMW Banko!
Northam America 05580AB45 712312021 36 Mos 712312024 $ 250,000 $ 250,000 0.50%
Bobin 06063HMT7 7/2212020 60Mos 712212025 $ 250,000 $ 250,000 0.65%
Bank of Deerfield 061785EG2 9125/2019 42Mos 3/2412023 $ 250,000 $ 250,000 1.65%
Bank Forward 062163BN9 12128/2019 60Mos 1211812024 $ 250,000 $ 250,000 1.75%
HAPOAL 0 112
12115125 06251A2O2 1211412020 60Mos 1212512025 $ 250,000 $ 250,000 0 .50%
Bankers Bank
Madison WI 06610RAT6 1212012017 48 Mos 1212012021 $ 250,000 $ 250,000 2 .15%
Bankunrted 066519QK8 3/512021 60 Mos 3/5/2026 $ 250 ,000 $ 250,000 0.65%
Barclays Bank
Delaware 06740KKD8 7112/2017 60 Mos 711212022 $ 250,000 $ 250,000 2 .20%
Baycoast Bank 072727AZ.3 112412020 60 Mos 112412025 $ 250,000 $ 250,000 1.70%
Business Bk of St.
Louis 12325EHV7 7119/2017 60 Mos 711912022 $ 250,000 $ 250,000 2.05%
CIT Bank 12556LBB1 8/23/2019 30 Mos 2123/2022 $ 250,000 $ 250,000 1.95%
Capital On 14042RQB0 11/30/2021 60 Mos 11/17/2026 $ 250,000 $ 250,000 1.10%
Capital One Bank
USA 14042TBD8 7124/2019 36 Mos 7125/2022 $ 250,000 $ 250,000 2 .10%
Celtic Bank 15118RUX3 4117/2020 60 Mos 4/17/2025 $ 250,000 $ 250,000 1.50%
Connectone Bank 20786ADL6 9/2412021 60 Mos 9127/2026 $ 250,000 $ 250,000 0.80%
Crossfirst Bank 22766ABB0 6/912017 60Mos 619/2022 $ 250,000 $ 250,000 2.05%
Eeglebank 27002YET9 1/17/2020 36 Mos 1/1712023 $ 250,000 $ 250,000 1.70%
East Boston Savings
Bank 27113PBM2 1/20/2017 60Mos 1/20/2022 $ 250,000 $ 250,000 2 .00%
F armers&Merchants
BK NE B 30781TBD9 1/1812017 60 Mos 1/1812022 $ 250,000 $ 250,000 2 .05%
First Bank of
Highland 319141GE1 6/7/2017 60 Mos 617/2022 $ 250 ,000 $ 250,000 2 .10%
First Financial Bank 32021MFC8 2/21/2018 48 Mos 2/22/2022 $ 250,000 $ 250,000 2 .45%
First Internet Bank of
In 32056GCQ1 7/14/2017 60Mos 7114/2022 $ 250,000 $ 250,000 2 .05%
First National Bank
of America 32110YJT3 1120/2017 60 Mos 1/20/2022 $ 250,000 $ 250,000 2 .00%
Flagstar Bank 33847E2J5 6/12/2019 36 Mos 6/13/2022 $ 250,000 $ 250,000 2.50%
Goldman Sachs
Bank USA 38149MAU7 5131/2019 36 Mos 5/31/2022 $ 250,000 $ 250,000 2 .50%
Henry County Bank
OH 426336BF9 1/27/2017 60 Mos 1/27/2022 $ 250,000 $ 250,000 1.90%
lndustrial&Com Bank
China 45581EAF8 6/2/2017 60 Mos 6/212022 $ 250,000 $ 250,000 2 .05%
JP Morgan Chase
Bank 48128UMX4 9/30/2020 60Mos 9/3012025 s 250,000 $ 250,000 0.30%
LCA Bank COfll 801798LK6 1/1212018 60 Mos 1/12/2023 $ 250,000 $ 250,000 2.35%
Landman<
Community Bank 51507LBV5 8123/2019 36 Mos 2123/2022 $ 250,000 $ 250,000 1.90%
MAGBNC 559582AL5 10/30/2020 54Mos 4/30/2025 $ 250,000 $ 250,000 0.40%
Malaga Bank FSB 56102AAJ5 5/29/2020 60 Mos 5/29/2025 $ 250,000 $ 250,000 0.70%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2021
l•auer of Acquisition Maturity M ■rtl;et Book
1.-tmo nt ·-CUSIPII Da• Term Da• Val uti Valm Yield
Marlin Business
Bank 571 16ATM0 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'II,
Merrick Bank 59013JC23 10/11 /2017 60Mos 10/11/2022 s 250,000 $ 250,000 2.10'II,
Mid-Missouri Bank 59541KBP1 1/19/2018 60Mos 1/19/2023 s 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%
New York
Community Bank 649447UP2 6/312021 36Mos 6/3/2024 $ 250,000 $ 250,000 0.35'11,
Northfiled Bank 66612ABX5 10/25/2017 60 Mos 10/25/2022 s 250,000 $ 250,000 2.15%
Peoples United Bank 71270QQJ8 1/1812017 60 Mos 1/18/2022 s 250,000 $ 250,000 2.05%
Preferred Bank LA 740367MA2 7/17/2020 60Mos 7/17/2025 $ 250,000 s 250,000 0.SQ'II,
Raymond James
Bank 75472RAN1 11/26/2019 72 Mos 11/26/2024 $ 250,000 $ 250,000 1.85%
Sallie Mae Bank/Salt
Lake 7954504P7 11/16/2019 60Mos 10/16/2024 s 250,000 $ 250,000 1.90%
Signature Bk
Chicago 82669VBY6 11/8/2017 60Mos 11/8/2022 s 250,000 $ 250,000 2.15'11,
State Bank of India 856285RS2 11/27/2019 72Mos 11/27/2024 $ 250,000 $ 250,000 205'11,
Sterling Bank POP
BLMO 85916VDN2 9/1812019 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 2.4°"'
BKCROW 88241TJJ0 10/23/2020 60Mos 10/23/2025 s 250,000 $ 250,000 0.60'II,
Texas Exchange
Bank 88241TJN1 11/25/2020 60Mos 11/25/2025 $ 250,000 $ 250,000 0.60'II,
T exes Exchange
Bank 88241TJR2 12/1812020 60 Mos 12/18/2025 $ 250,000 $ 250,000 0.60%
Toyota Financial
Svgs Bank 89235MLE9 7/29/2021 60Mos 7/29/2026 $ 250,000 $ 250,000 0.95%
USB Bank USA 90346JN30 6/24/2021 36 Mos 6/24/2024 $ 250,000 $ 250,000 0.35%
Vision Bank of Iowa 92834CCL4 11/29/2019 72Mos 11/29/2024 $ 250,000 $ 250,000 175%
Wells Fargo Nat'I
Bank West 949495AQ8 1/17/2020 36 Mos 1/17/2023 $ 250,000 $ 250,000 1.9()'11,
Wells F ergo Bank 949763D45 6/10/2019 36 Mos 6/10/2022 $ 250,000 $ 250,000 2.50%
Treasury-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 912828XZ8 6/30/2020 60Mos 6/30/2025 $ 1,000,000 $ 1,000,000 2.75'11,
United States Treas 91282CBC4 1/12/2021 60Mos 12/31/2025 $ 2,000,000 $ 2,000,000 0.38%
United States Treas 3133EMZ21 8/6/2021 54Mos 416/2026 $ 1,000,000 $ 1,000,000 0.69%
Total Investment $ 65,816,946
Summary: Weighted Retum 0.76%
Local Agency Investment Fund (LAIF-C ITY) 41,272,204.14
Certificate of Depostt -Malaga Bank 250,000.00
Certificate of Deposit -Malaga Bank 4 ,044,741 .92
Certificate of Depostt -Vining Sparks 15,250,000.00
Treasury Bills -Vining Sparks 5,000,000.00
Total Investment 65,816,946 .06
A-4
Malaga Bank-CO
6%
NOTE:
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
NOVEMBER 2021
SUMMARY OF CASH BALANCE BY INSTITUTION
NOVEMBER 2021
Vining Sparks -Treasury
7%
Bank of the West
8%
Vining Sparks -Money Market
0%
State of California -LAIF
58%
(1) LAIF market values will be reported to vary from book value ~ the City celculated 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 ceuse 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 meet the City's expenditure requirements for the next six months.
Respectfully submitted ,
A-5