CC SR 20220405 D - February Treasury Report
CITY COUNCIL MEETING DATE: 04/05/2022
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the February 2022 Cash Balances/Monthly
Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the February 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
February 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 $78.5 million, with over $48 million or
62% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has
over $4 million or 6% 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 $15.25 million or 19%, Treasury Bills at $5 million or 6% of the total cash balance, and
a money market account of over $789,000 or less than 1% with Vining Sparks, the City’s
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 $28 million or 36% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $27 million or 35% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with over
$2.7 million or 4%, over $1.7 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 21% in Other Restricted Funds.
The City’s cash balance increased by approximately $13.7 million compared to the
February 2021 balance. As reported in the prior month’s report, the significant overall
increase in cash balance is mainly from the American Rescue Plan Act of $4.9 million,
and the remaining $8.8 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, January 2022, the City’s cash balance
increased by approximately $0.5 million, mainly attributed to the timing of disbursements
for City-approved projects. The major disbursements for this month included Aleshire &
Wynder for legal services, Harris & Associates for the Altamira Canyon Drainage project,
the Los Angeles County Sheriff’s Department for law enforcement services, and MSW
Consultants for solid waste regulatory compliance. All expenditures were disbursed in
accordance with the Fiscal Year 2021-2022 budget.
2
A-1
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARN INGS(1 )
LESS: CHECK DISBURSEME NTS
LESS: ELECTRONIC D ISBURSE M ENTS(2)
ADJUSTMENTS(3)
PLUS:TRANSFERSIN
LESS TRANS FE RS OUT
ENDING BALANCE
(1) A ll LAJF interest is paid quarterly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
Sales Taxes
Postage
Bank and Merchant Fees
Bank of the W••t
Operating
9 ,100,659.59
2 ,648,947.75
(1,567 ,903.01)
(635,551.02)
25,899.05
(4 ,700,000.00)
4,872,052.36
370 ,110.61
250,556.53
708.94
2,500.00
11,674.94
635,551 .02
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
FEBRUARY 2022
Malaga Bank
~otiabla Vining Sporb
Patty Ca ■h LAIF-CITY co M oney M ■rl<■t
5 ,000.00 43,795,964 .35 4 ,308,936.63 325,830.19
263,285.69
4,500,000.00 200,000.00
5 ,000.00 48,295,964.35 4,308,936.63 789,115.88
(3) The net adjustment was due to a void check and miscellaneous adjustment.
FEBRUARY 2022 CASH BALANCE BY MAJOR FUNDS
1% 1%
Vining S parta
tn VNt:ment T-IC.■h
20,500,000.00 78 ,036,390.76
2,648,947 .75
(1,567,903.01)
(635,551 .02)
(250,000.00) 39,184.74
4,700,000.00
(4,700,000.00)
20,250 ,000.00 78 ,521 ,069.22
■GENERAL FUND 36%
■CIP 35%
■EQU IPM ENT REPLACEMENT 4%
■1911 ACT 2%
CHABITAT RESTORATION 1%
■QUIMBY 1%
■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 PENSION PLAN
EMPLOYEE BENEFITS
Subtotal
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 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
Subtotal
GRAND TOTAL
BALANCE
FORWARD
28,043,586.28
0 .00
27 ,719,027 .10
2,758,787.44
0 .00
320 ,327 .10
0 .00
30,798, 141 .64
1,079,108 .55
29,223 .69
41,253 .92
0 .00
0 .00
1,689,292 .92
376 ,397 .08
139,764.68
930 ,803 .74
1,380 ,870 .66
162,222 .39
1,729 ,758 .70
448 ,673 .93
442 ,392 .35
743 ,234 .22
0 .00
189,765 .99
0 .00
0 .00
790,377 .59
0 .00
29 ,897 .89
4 ,906.440 .56
832 ,624 .55
284 ,733 .80
878 ,689 .42
159,635 .64
0 .00
0.00
0 .00
0 .00
1,044 ,137 .10
0 .00
167 ,440 .12
0 .00
717 ,923 .35
19,194,662.84
78,036,390.76
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
FEBRUARY 2022
DEBIT CREDIT CASH
8,165,104.96 7 ,876,724 .45 28,331 ,966.79
0.00 0 .00 0 .00
0.00 38,487 .65 27 ,680 ,539 .45
0.00 8,388 .06 2 ,750 ,399 .38
0.00 0 .00 0.00
0 .00 0 .00 320 ,327 .10
0.00 0 .00 0.00
0 .00 46,875.71 30,751 ,265 .93
136,489 .48 77 ,43 1.43 1,138 ,166 .60
0.00 0 .00 29,223 .69
152 .27 0 .00 4 1,406 .19
1,265 .00 1,265 .00 0 .00
0.00 0 .00 0 .00
39,100 .95 12,476.83 1,715 ,917 .04
5 ,770.46 61 ,171 .98 320 ,995 .56
0 .00 0 .00 139 ,7 64 .68
88 ,224 .11 1,537 .50 1,017 ,490 .35
106 ,066 .80 500 .00 1,486 ,437 .46
3 ,667 .11 0.00 165,889.50
65 ,974 .74 4 ,670 .68 1,791 ,062.76
0 .00 25 ,401 .38 423 ,272 .55
0 .00 157.75 442 ,234 .60
0 .00 3,610.83 739 ,623 .39
0 .00 0 .00 0 .00
5,785 .69 2 ,813.42 192,738 .26
0 .00 0 .00 0 .00
0 .00 0.00 0 00
2,000 .00 0.00 792,377.59
0 .00 0 .00 0 .00
0 .00 6,210 .00 23,687 .89
0 .00 24 ,842 .69 4 ,881 ,597 .87
0 .00 12 ,200 .16 820.424 .39
0.00 0 .00 284 ,733 .80
0 .00 0.00 878 ,689 .42
7,804 .00 0.00 167,439.64
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 20 ,608 .00 1,023 ,529 .10
0 .00 0 .00 0 00
0.00 0.00 167 ,440 .12
0 .00 0.00 0.00
97,247 .85 61 ,477.1 5 7 53 ,694 .05
559,548.48 316,374 .80 19,437,838.50
8,724,653.42 8,239,974.96 78,521 ,069.22
Total Investment: 78,521,069.22
Change In
Ending Cash
Balance
288,380.51
0 .00
(38,487.65)
(8,388.06)
0 .00
0.00
0.00
(46,875.71)
59 ,058 .05
0 .00
152.27
0 .00
0 .00
26 ,624 .12
(55 ,401 .52
0.00
86 ,686 .6 1
105,566 .80
3,667 .11
61 ,304 .06
(25,401 .38)
(157 75)
(3 ,610.83)
0 .00
2,972 .27
0 .00
0 .00
2 ,000 .00
0 .00
(6,210 .00)
(24 ,842 .69)
(12 ,200 .16)
0 .00
0 .00
7,804 .00
0.00
0.00
0.00
0 .00
(20 ,608 .00)
0 .00
0 .00
0 .00
35 ,770 .70
243 ,173.66
484,678.46
Change In
Ending Cash
Balance in%
1%
0%
0%
0%
0%
0%
0%
0%
5%
0%
0%
0%
0%
2%
-1 5%
0%
9%
8%
2%
4 %
-6%
0%
0%
0%
2%
0%
0%
0%
0%
-21%
-1%
-1%
0%
0%
5%
0%
0%
0 %
0%
-2%
0%
0%
0%
5%
1%
1%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
FEBRUARY 2022
Issuer of Acquisition Maturity Market Book
Investment Investment CUSI~ Date Torm Date Value Value Yield
Local Agency Investment Fund (LAIF-CITY) Stale of California NI A NIA On Demand $ 48,295.964 $ 48 .295,964 0.28%
Nole (1)
CD -Non-Negotiable Malaga Bank 2/23/2022 6 Mos 8/22/2022 $ 250.000 $ 250,000 0.20%
CD -Non-Negotiable Malaga Bank 2/23/2022 6 Mos 8/22/2022 $ 4,058 937 $ 4 058 ,937 0 20%
CD -Bank of New York -Vining Sparks (Non-Allegiance Bank
Negotiable) Texas 01748 DAY2 11/3/2017 60 Mos 1 1/3/2022 $ 250,000 $ 250.000 220%
Ally Bank 02007GKW2 7/25/20 19 36 Mos 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 Express
Centurion 02587DN38 3/21/2017 60 Mos 4/5/2022 $ 250.000 $ 250 ,000 245%
AXOS Bank 05465DAK4 3/26/2020 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 $ 250,000 050%
Babin 06063HMT7 7/22/2020 60 Mos 7/22/2025 $ 250.000 $ 250,000 065%
Bank of Deerfield 061785EG2 9/25/2019 42 Mos 3/24/2023 $ 250.000 $ 250 .000 165%
Bank Forward 062163BN9 12/28/2019 60Mos 12/18/2024 $ 250,000 $ 250.000 1 75%
HAPOAL O 112
12/15/25 06251A2O2 12/14/2020 60 Mos 12/25/2025 $ 250 ,000 $ 250 .000 050%
Bankunited 0665190KB 3/5/2021 60 Mos 3/5/2026 $ 250 .000 $ 250,000 065%
Barclays Bank
Delaware 06740KKD8 7/1212017 60 Mos 7/12/2022 $ 250 ,000 $ 250.000 220%
Baycoast Bank 072727 AZ3 1/24/2020 60 Mos 1/24/2025 $ 250 .000 $ 250.000 1 70%
Business Bk of St
Louis 12325E HV7 7/19/2017 60 Mos 7/19/2022 $ 250 ,000 $ 250 ,000 2 05%
CIT Bank 12556LBB 1 8/23/2019 30Mos 2/23/2022 $ 250,000 $ 250,000 1 95%
Capital On 14042RQB0 11/30/2021 60 Mos 11/17/2026 $ 250.000 $ 250,000 110%
Capital One Bank
USA 14042TBDB 7/24/2019 36 Mos 7/25/2022 $ 250.000 $ 250 ,000 210%
Celtic Bank 15118RUX3 4/17/2020 60 Mos 4/17/2025 $ 250 .000 $ 250,000 150%
Connectone Bank 20786ADL6 9/24/2021 60 Mos 9127/2026 $ 250 .000 $ 250,000 0 80%
Crossfirst Bank 22766ABBO 6/9/2017 60Mos 6/9/2022 $ 250.000 $ 250 ,000 2 05%
Eaglebank 27002YET9 1/17/2020 36 Mos 1/17/2023 $ 250,000 $ 250 ,000 1.70%
FMBKWI 1.2 307811DP1 1114/2022 60 Mos 11 14/2027 $ 250.000 $ 250 ,000 1 20%
First Bank of
Highland 319141GE1 6/7/20 17 60 Mos 6/7/2022 $ 250,000 $ 250,000 2 10%
FNWB 32022EAW6 12129/2021 60 Mos 12/29/2026 $ 250.000 $ 250 ,000 1.05%
First Internet Bank of
In 32056GCQ1 7/14/2017 60 Mos 7/14/2022 $ 250,000 $ 250 ,000 2 05%
First Nat l
Bank/DAMA 32117BEQ7 12/30/2021 60Mos 12/30/2026 $ 250 .000 $ 250 ,000 125%
Flags l ar Bank 33847E2J5 6/12/2019 36 Mos 6/13/2022 $ 250 .000 $ 250 ,000 2 50%
Goldman Sachs
Bank USA 38149MAU7 5/31 /20 19 36 Mos 5/31/2022 $ 250.000 $ 250 ,000 2.50%
lndustrial&Com Bank
China 45581EAFB 6/2/2017 60 Mos 6/2/2022 $ 250.000 $ 250,000 2 05%
lnlercred1t Bank NA 458657MC4 1/20/2022 60Mos 1/29/2027 $ 250.000 $ 250 .000 1 35%
JP Morgan Chase
Bank 48128UMX4 9/30/2020 60 Mos 9/30/2025 $ 250.000 $ 250 ,000 0 30%
LCA Bank Corp 801798LK6 1/12/2018 60 Mos 1/12/2023 $ 250.000 $ 250 ,000 235%
Live Oak Bankinig 538036UG7 2/1/2022 48 Mos 2/2/2026 $ 250,000 $ 250,000 125%
MAGBNC 559582AL5 10/30/2020 54 Mos 4/30/2025 $ 250.000 $ 250,000 040%
Malaga Bank FSB 56102AAJ5 5/29/2020 60 Mos 5/29/2025 $ 250,000 $ 250.000 0 70%
A-4
CllY OF RANCHO PALOS VERDES
MONTHLY T REAS URER 'S REP ORT
FEBRUARY 2022
Issuer 01 Acquisition Maturity Market Book
Investment Investment CUSIPf 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 Ulah 58404DFE6 9/18/2019 36 Mos 9/19/2022 $ 250,000 $ 250,000 1 70%
Merrick Bank 59013JC23 10/11/2017 60Mos 10/11/2022 $ 250 .000 $ 250 ,000 210%
M id-M issouri Bank 59541KBP1 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%
NCWI 115 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 $ 250,000 035%
Northfiled Bank 66612ABX5 10/25/2017 60 Mos 10/25/2022 $ 250,000 $ 250,000 215%
OLDDNB 1 5 679585AZ2 1/20/2022 60Mos 1/20/2027 $ 250,000 $ 250,000 1 15%
Pathfinder Bank 70320KBR1 1/29/2022 60 Mos 1/29/2027 $ 250 ,000 $ 250 ,000 1 20%
Preferred Bank LA 740367MA2 7/17/2020 60 Mos 7/17/2025 $ 250 ,000 $ 250.000 050%
Raymond James
Bank 75472 RAN1 11/26/2019 72 Mos 11/26/2024 $ 250,000 $ 250,000 185%
Sallie Mae Bank/Sall
Lake 7954504P7 11/16/2019 60 Mos 10/16/2024 $ 250.000 $ 250,000 190%
Signature Bk
Chicago 82669VBY6 11/8/2017 60 Mos 11/8/2022 $ 250,000 $ 250,000 215%
State Bank of India 856285RS2 11/27/2019 72 Mos 11/27/2024 $ 250.000 $ 250,000 2 05%
Sterling Bank POP
BL MO 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 $ 250.000 240%
BKCROW 88241TJJO 10/23/2020 60 Mos 10/23/2025 $ 250 ,000 $ 250,000 0 60%
Texas Exchange
Bank 88241T JN1 11/25/2020 60Mos 11/25/2025 $ 250 ,000 $ 250 ,000 060%
Texas Exchange
Bank 88241TJR2 12/18/2020 60 Mos 12/18/2025 $ 250 ,000 $ 250.000 060%
Toyota Financial
Svgs Bank 89235MLE9 7/29/2021 60 Mos 7/29/2026 $ 250.000 $ 250,000 095%
USB Bank USA 90348JN30 6/24/202 1 36 Mos 6/24/2024 $ 250,000 $ 250.000 035%
United Bankers Bank 909557JP6 12/16/2021 56Mos 8/17/2026 $ 250,000 $ 250,000 1 00%
V ision 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 $ 250,000 190%
Wells Fargo Bank 949763D45 6/10/2019 36 Mos 6/10/2022 $ 250,0 00 $ 250 ,000 250%
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%
United Slates Treas 91282CBC4 1/12/2021 60 Mos 12/31/2025 $ 2,000 ,000 $ 2,000,000 038%
Un 1led Slates Treas 3133E MZ21 8/6/2021 54 Mos 4/6/2026 $ 1,000.000 $ 1.000,000 069%
Tolal Investment $ 72 ,854,901
Summary : Weighted Return 065%
Local Agency Investment Fund (LAIF-CllY) 48 .295.964 .35
Certificate of Deposit -Ma laga Bank 250,000 .00
Certi ficate of Depos it• Malaga Bank 4 058,93663
Certificate of Deposit • Vini ng Sparks 15,250,000.00
Treasury Bills. Vining Sparks 5,000.000 00
Total Investment 72 ,854.900 98
A-5
Malaga Bank -CD
6%
NOTE:
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
FEBRUARY 2022
SUMMARY OF CASH BALANCE BY I NSTITU T ION
JANUARY 2022
Vining Sparks -Treasury
6%
Bank of the West
6%
Vining Sparks -Money Market
1%
State of california -LAIF
62%
(1) LAIF marl<et values will be reported to vary from book value ~ 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,
3 J2-y /z2-
Dated