CC SR 20220201 C - City December Treasury Report
CITY COUNCIL MEETING DATE: 02/01/2022
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the December 2021 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the December 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
December 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 approximately $74 million, with
approximately $41 million or 56% of the total cash balance in the Local Agency
Investment Fund (LAIF). The City has over $7.6 million or 10% 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 $15.5 million or 21%, Treasury Bills at $5
million or 7% of the total cash balance, and a money market account of over $81,000 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 $24 million or 33% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $27 million or 37% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with over
$2.7 million or 4%, over $1.6 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 $16 million or 22% in Other Restricted Funds.
The City’s cash balance increased by approximately $12 million compared to the
December 2020 balance. As reported in the prior month’s reports, 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 increased in revenues and timing of
disbursements in General Fund and Other Special Revenue funds.
In comparison to the balance from last month (November 2021), the City’s cash balance
increased by approximately $2.5 million, mainly attributed to a large property tax
apportionment from Los Angeles County and the timing of disbursements for City-
approved projects. The major disbursements for this month included Aleshire & Wynder
for legal services, Chill Entertainment for the holiday synthetic ice rink, Los Angeles
County Sheriff’s Department for law enforcement services , Stay Green for landscape
services, E.S.A for the housing element professional services, R.E. Schultz Construction
for the playground surface improvement at the City parks, and West Coast Arborist for
the tree trimming services. All expenditures were disbursed in accordance with the Fiscal
Year 2021-2022 budget.
2
BEGI NNIN G BALANCE
PLUS: DE POSITS
PLUS : INTE REST EARNINGS(1)
LESS CHECK DIS BURSEMEN T S
LESS : ELECTRONIC DISBURSEM EN TS(2 )
ADJUSTMENTS(3)
PLUS:TRANSFERS IN
LESS: TRANSFERS OUT
EN DING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
Postage
Petty Cash
Bank and Merchant Fees
Bank of the Welt
Opera ting
5,388,564.27
5,775,323.52
(2,552 ,423.95)
(704,235 .53)
(13,710.00)
(250,000.00)
7,643,518.31
430,611 .24
257,939.59
2,500.00
595.00
12,589.70
704,235.53
(3) The net adjustment was due to a void check and quarterly adjustment .
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 2021
Malaga Bank
Non-Negotiab le V i ning Sparks V inir19 Sparks
Petty C.,ah LAIF.CITY CD Money M■rbt lnvutmen t To1a1 caah
5,000.00 41 ,272,204.14 4,294 ,741 .92 34,025.97 20,250,000.00 71 ,244,536.30
5,775,323.52
47,523 .74 47,523.74
(2,552 ,423.95)
(704,235.53)
(13,710.00)
250,000.00 250,000.00
(250,000.00)
5,000.00 41,272,204.14 4,294,741 .92 81 ,549.71 20,500,000.00 73,797 ,014 .08
DECEMBER 2021 CASH BALANCE BY MAJOR FUNDS
1% 1%
■GENERAL FUND 33%
■CIP 37%
■E Q U IP M ENT REPLA CEMENT 4%
■1911 ACT 2%
CHABITAT RESTO RATION 1%
■QUIMBY 1%
■OTHER RESTRICTED FUNDS 22%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE PENSION PLAN
EMPLOYEE BENEFITS
Subtotal
Restricted bv Law or External Aaencies
STREET MAINTENANCE
1972 ACT
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 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 BEAUT IFICATION
MEASURE W
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
Subtotal
GRAND TOTAL
BALANCE
FORWARD
22,859,183.83
0.00
27,064,802.73
2,678,972.39
0.00
76,790.52
0.00
29,820,565.64
1,055,522.35
29,170 .7 4
39 ,721.77
18,412 .26
0.00
1,370,557.38
368,935.44
134,859.55
915 ,900.48
1,595,102.82
163,283.46
1,625,625 .27
450 ,281 .76
480,887.61
741,227.66
23,949.04
177,204 .58
0.00
0.00
779,808.43
0.00
39,493.48
4,972,416 .73
911,812.30
284 ,217.88
877 ,097.26
176,364.90
0.00
0 .00
0.00
0.00
451,093.25
0.00
167,136.72
0.00
714,703.71
18,564,786.83
71,244,536.30
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 2021
DEBIT CREDIT CASH
7,345,1TT.95 6 ,064,107 .70 24, 140,2~.08
0.00 0 .00 0 .00
638 ,250.00 12,400.00 27,690,652 .73
77,100.00 0.00 2,756 ,072.39
0.00 0.00 0 .00
243,250.00 0.00 320 ,040.52
0.00 0.00 0.00
958,600.00 12,400.00 30,766,765.64
142,054.58 124 ,290.39 1,073,286.54
0.00 0.00 29,170.74
1,148.79 0.00 40,870.56
0 .00 9,917.50 8,494.76
0.00 000 0.00
295,554 .25 41,880 .75 1,624,230.88
31,462.20 28,482 .1 5 371,915.49
13,649.35 0.00 148,508.90
70,740 .78 12,428.28 974,212.98
85,283.93 0.00 1,680,386.75
25,353.14 50 ,000 .00 138,636.60
53,058.16 3,220.00 1,675,463.43
60,021 .26 76,944 .07 433,358.95
0.00 0.00 480,887.61
7,500.00 5,110.73 743,616.93
13,550.96 37,500 .00 0.00
21,933.57 6,118 .36 193 ,01 9 .79
0 .00 0.00 0.00
0 .00 0.00 0.00
10,100.00 1,153 .04 788,755.39
0 00 0.00 0.00
0 .0 0 4 ,465.00 35,028.48
0.00 27,400.00 4 ,945 ,01 6.73
0.00 31 ,189.45 880 ,622 .85
0.00 0 .00 284,217.88
0.00 000 877,097 .26
3,731.35 0.00 180,096.25
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 24,330 .70 426,762.55
0.00 0.00 0.00
0 00 0.00 167 ,136.72
0.00 0 .00 0 00
9,772 .75 35,277.12 689,199.34
844,915.07 519,707.~ 18,889,994.36
9,148,693.02 6 596,215.24 73,797,014.08
Total Investment: 73,797,014.08
Change In
Ending Cash
Balance
1,281,070.25
0 .00
625 ,850 .00
77 ,1 00.00
0.00
243,250.00
0.00
946,200.00
17,764.19
0 00
1,148.79
(9,917.50)
0.00
253,673.50
2,980.05
13,649.35
58,312.50
85,283 .93
(24,646.86)
49,838.16
(16,922.81)
0 00
2,389.27
(23,949.04)
15,815.21
0.00
0.00
8,946.96
0.00
(4,465.00)
(27,400.00)
(31,189.45)
0 .0 0
0.00
3,73 1.35
0.00
0 .00
0.00
0 .00
(24,330.70)
0.00
0 .00
0.00
(25,504.37)
325,207.53
2,552,4TT.78
Change In
Ending Cash
Balance in%
6%
0%
2%
3%
0%
100%
0%
3%
2%
0%
3%
-54%
0%
19%
1%
10%
6%
5%
-15%
3%
-4%
0%
0%
-100%
9%
0%
0%
1%
0%
-11%
-1%
-3%
0%
0%
2%
0%
0%
0%
0%
-5%
0%
0%
0%
-4%
2%
4%
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
DECEMBER 2021
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP# Date Term Date Value Value Yield
Loca l Agency Investment Fund (LAIF -CITY ) State of Califo rni a N/A NIA On Demand $ 41 ,272 .204 $ 41 .272,204 021%
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 2/23/2020 24 Mos 2/21/2022 $ 4,044,742 $ 4 044,742 140%
CD -Bank of New York -Vining Sparks (Non-Allegiance Bank
Negotiable) Texas 01748DAY2 11/3/2017 60 Mos 111312022 $ 250 .000 $ 250,000 2.20%
Ally Bank 02007GKW2 7125/2019 36 Mos 7125/2022 $ 250 .000 $ 250 ,000 215%
American Bank Na
Le Mars 024373AZ5 9/27/2019 36 Mos 9/27/2022 $ 250 ,000 $ 250 ,000 165%
Amencan Express
Centurion 02587DN38 3/21/2017 60 Mos 4/5/2022 $ 250 .000 $ 250 .000 245%
AXOS Bank 05465DAK4 3/2612020 48 Mos 3/26/2024 $ 250.000 $ 250.000 165%
BMW Bank of
Northern America 05580AB45 712312021 36 Mos 7123/2024 $ 250 .000 $ 250 .000 0.50%
Babin 06063HMT7 712212020 60 Mos 7122/2025 $ 250 .000 $ 250 ,000 065%
Bank of Deerfield 061785EG2 9/2512019 42 Mos 312412023 $ 250 .000 $ 250 .000 1.65%
Bank Forward 062163BN9 12/28/2019 60 Mos 12/18/2024 $ 250.000 $ 250.000 1 75%
HAPOAL O 112
12115/25 06251A2Q2 12/14/2020 60 Mos 12/25/2025 $ 250.000 $ 250.000 050%
Bankunited 066519QK8 3/512021 60 Mos 315/2026 $ 250,000 $ 250.000 0.65%
Barclays Bank
Delaware 06740KKD8 7112/2017 60 Mos 7112/2022 $ 250.000 $ 250,000 220%
Baycoast Bank 072727AZ3 112412020 60 Mos 1124/2025 $ 250.000 $ 250 ,000 1 70%
Business Bk of St
Louis 12325EHV7 7/19/20 17 60 Mos 7/19/2022 $ 250,000 $ 250 ,000 2 05%
CIT Bank 12556LBB1 8/23/2019 30Mos 2/23/2022 $ 250.000 $ 250 ,000 1.95%
Capital On 14042ROB0 11/3012021 60Mos 11/17/2026 $ 250.000 $ 250.000 1 10%
Capital One Bank
USA 14042TBD8 7/24/2019 36 Mos 7125/2022 $ 250,000 $ 250.000 210%
Celtic Bank 15118RUX3 4/1712020 60 Mos 4117/2025 $ 250,000 $ 250,000 1.50%
Connectone Bank 20786ADL6 9/24/2021 60 Mos 9127/2026 $ 250.000 $ 250 ,000 0.80%
Crossfirst Bank 22766ABB0 6/912017 60 Mos 619/2022 $ 250.000 $ 250,000 2 05%
Eaglebank 27002YET9 1117/2020 36 Mos 1117/2023 $ 250.000 $ 250,000 1 70%
East Boston Savings
Bank 27113PBM2 112012017 60 Mos 1120/2022 $ 250.000 $ 250,000 2 00%
Farmers&Merchants
BK NEB 30781TBD9 1118/2017 60 Mos 1118/2022 $ 250.000 $ 250.000 2 05%
First Bank of
Highland 31914 1GE1 6/7/2017 60 Mos 6(7!2022 $ 250 ,000 $ 250 ,000 210%
First Financial Bank 32021MFC8 2 /21/2018 48 Mos 212212022 $ 250 ,000 $ 250.000 2 45%
FNWB 32022EAW6 12/29/2021 60 Mos 12/29/2026 $ 250.000 $ 250.000 1.05%
First Internet Bank of
In 32056GCO1 7/14/2017 60 Mos 7/1412022 $ 250.000 $ 250.000 205%
First National Bank
of America 32110YJT3 1/20/2017 60 Mos 1/20/2022 $ 250 .000 $ 250,000 2 00%
First Natl
Bank/DAMA 321178EQ7 12/30/2021 60 Mos 12/30/2026 $ 250,000 $ 250.000 125%
Flagstar Bank 33847E2J5 6/12/2019 36 Mos 6/13/2022 $ 250.000 $ 250,000 2 50%
Goldman Sachs
Bank USA 38149MAU7 5/31/2019 36 Mos 5/31/2022 $ 250.000 $ 250.000 2 50%
Henry County Bank
OH 4263368F9 1127/2017 60 Mos 1/2712022 $ 250 .000 $ 250.000 1 90%
lndustnal&Com Bank
China 45581EAF8 6/2/2017 60 Mos 6/2/2022 $ 250 .000 $ 250.000 2 05%
JP Morgan Chase
Bank 48128UMX4 9/30/2020 60Mos 9/30/2025 $ 250.000 $ 250 .000 030%
LCA Bank Corp 801798LK6 1/12/2018 60 Mos 1/12/2023 $ 250.000 $ 250.000 235%
Landmark
Community Bank 51507LBV5 8/23/2019 36 Mos 2/23/2022 $ 250.000 $ 250 ,000 190%
MAGBNC 559582AL5 10/30/2020 54 Mos 4/30/2025 $ 250.000 $ 250,000 040%
Malaga Bank FSB 56102AAJ5 5/2912020 60 Mos 5/2912025 $ 250,000 $ 250,000 0.70%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DEC EM BER 2021
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP# Date Term Date Value Value Yield
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 36 Mos 9/19/2022 $ 250 .000 $ 250 .000 170%
Merrick Bank 59013JC23 10/11/2017 60 Mos 10/11/2022 $ 250.000 $ 250.000 210%
Mid-Missouri Bank 59541 KBP1 1/19/2018 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 $ 250,000 185%
New York
Community Bank 649447UP2 6/3/2021 36 Mos 6/3/2024 $ 250,000 $ 250,000 035%
Northf1led Bank 66612ABX5 10/25/2017 60 Mos 10/25/2022 $ 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 60 Mos 7/17/2025 s 250,000 s 250,000 0 50%
Raymond James
Bank 75472RAN1 11/26/2019 72 Mos 11126/2024 $ 250.000 $ 250,000 185%
Sallie Mae Bank/Salt
Lake 7954504P7 11116/2019 60 Mos 10/16/2024 $ 250.000 $ 250 ,000 1.90%
S1gnalure Bk
Chicago 82669VBY6 11/812017 60 Mos 11/8/2022 $ 250 .000 $ 250.000 215%
State Bank of India 856285RS2 11/2712019 72 Mos 11/2712024 $ 250 ,000 $ 250,000 2 05%
Sterling Bank POP
BL MO 85916VDN2 911812019 48 Mos 9/1812023 $ 250.000 $ 250,000 165%
Synchrony Bank 87165HRY8 6/212017 60 Mos 6/2/2022 $ 250 .000 $ 250.000 2 40%
BKCROW 88241T JJO 10/2312020 60 Mos 10/23/2025 $ 250 ,000 $ 250,000 0 .60%
Texas Exchange
Bank 88241TJN1 11/25/2020 60Mos 11/25/2025 $ 250 ,000 $ 250 ,000 060%
Texas Exchange
Bank 88241TJR2 12/18/2020 60Mos 12/18/2025 $ 250.aaa $ 250.000 060%
Toyota Financial
Svgs Bank 89235MLE9 7/29/2021 60 Mos 7/29/2026 $ 250,000 s 250,000 095%
USB Bank USA 90348JN30 6/2412021 36 Mos 6/2412024 $ 250 .aaa $ 250.000 035%
United Bankers Bank 909557 JP6 1211612021 56 Mos 8/17/2026 $ 250 ,000 $ 250.000 1 00%
Vision Bank of Iowa 92834CCL4 1112912019 72 Mos 11/29/2024 $ 250,000 $ 250,000 1 75%
Wells Fargo Nal'I
Bank West 949495AQ8 1/1712020 36 Mos 1/17/2023 $ 250.000 $ 250,000 190%
Wells Fargo Bank 949763D45 6/1012019 36 Mos 6/10/2022 $ 250,000 $ 250 ,000 250%
Treasury-Bank of New York(V1ning Sparks) United Stales Treas 912828S35 9/12/2019 45 Mos 6130/2023 $ 1,000 .000 $ 1,000.000 1.38%
United States Treas 912828XZ8 6/30/2020 60 Mos 6/30/2025 $ 1,000.000 $ 1.000,000 2 75%
United States Treas 91282CBC4 1/12/2021 60Mos 12/31/2025 $ 2 ,000,000 s 2 ,000,000 038%
United Stales Treas 3133EMZ21 8/6/2021 54 Mos 4/6/2026 $ 1.000.aaa $ 1.000.000 0 .69%
Total Investment S 66.066.946
Summary Weighted Return 0 76%
Local Agency Investment Fund (LAIF-CITY) 41,272204 14
Cert1f1cate of Deposit -Malaga Bank 250.000 00
Certificate of Deposit -Malaga Bank 4,044,741 92
Certificate of Deposit -Vining Sparks 15,500,000 .00
Treasury Bills -Vining Sparks 5 000,00000
Total Investment 66,066,946 .06
A-4
Malaga Bank· CD
6%
NOTE:
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
DECEMBER 2021
SUMMARY OF CASH BALANCE BY I NST ITUT ION
NOVEMBER 2021
Vining Sparks • Treasury
7%
Bank of the West
10%
State of California -LAIF
S6%
Vining Sparks -Money Market
0%
(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 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 meet the City's expenditure requirements for the next six months.
Respectfully submitted,
Dated
A-5