CC SR 20220503 D - City March Treasury Report
CITY COUNCIL MEETING DATE: 05/03/2022
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the March 2022 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the March 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
March 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 $79 million, with over $48 million or
61% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has
over $5 million or 7% 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
$16.25 million or 21%, Treasury Bills at $5 million or 6% of the total cash balance, and a
money market account of over $53,000 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 $28 million or 35% in the cash balance,
and the Capital Improvement Projects (CIP) Fund has over $28 million or 36% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with over
$2.8 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 $0.8 million or less than 1% in the Quimby
Fund, and over $17 million or 22% in Other Restricted Funds.
The City’s cash balance increased by approximately $15 million compared to the March
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 $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, February 2022, the City’s cash balance
increased by approximately $0.7 million, mainly attributed to the timing of disbursements
for City-approved projects. The major disbursements for this month included Aleshire &
Wynder for legal services, Geosyntec Consultant for the Peninsula Coordinated
Integrated Monitoring Program (CIMP) implementation, Griffin Structures for the Ladera
Linda Community Park Project, the Palos Verdes Peninsula Land Conservancy for the
NCCP Habitat Restoration, Hardy and Harper for roadway maintenance and repair,
Johnson Favaro for Ladera Linda architect services, and the Los Angeles County Sheriff’s
Department for law enforcement services. All expenditures were disbursed in accordance
with the Fiscal Year 2021-2022 budget.
2
A-1
BEGINNING BAI.ANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DISBURSEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
AOJUSlMENTS(3)
PLUS:TRANSFERSIN
LESS: TRANSFERS OUT
ENDING BAI.ANCE
(1 ) All LAIF intenJst is paid quarterly.
(2) Electronic Disbursements:
Payroll
Payroll Charges
Petty Cash
Bank and Merchant Fees
Bank of the Wnt
Openlllng
4 ,872,052.36
3,037,302.62
(1 ,751 ,228.00)
(633,299.71)
(966.28)
(250,000.00)
5 ,273,860.99
367,971 .78
249,929.00
790.00
14,608.93
633,299.71
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH 2022
Malaga Bank
Non-Hogotlabla VinlngSparlla
PattyCu/1 LAIF-CITY CD Mo,.,.Marbl
5,000.00 48,295,964.35 4 ,308,936.63 789,115.88
(985,310.82)
250,000.00
5,000.00 48,295,964.35 4 ,308,936.63 53,805.06
(3) The net adjustment was due to a void c:hed< and miscellaneous adjustment.
MARCH 2022 CASH BALAN C E BY MAJOR FUNDS
0%1%
Vonlngllparb
lnVNtment TotalCUh
20,250,000.00 78,521 ,069.22
3,037,302.62
(1,751,228.00)
(633,299.71)
1,000,000.00 13,722.90
250,000.00
(250,000.00)
21 ,250,000.00 79,187,567.03
■GENERAL FUND 35%
■CIP 36%
■EQUIPMENT REPLACEMENT 4%
■1911ACT2%
DHABITAT RESTORATION 1%
■QUIMBYO%
■OTHER RESTRICTED FUNDS 22%
A-2
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted bv Council Action
BEAUTIFICATION FUND
CIP
EQU IPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE PENSION PLAN
EMPLOYEE BENEFITS
SublDtal
Restricted bv Law or External Aoencies
STREET MAINTENANCE
1972ACT
EL PRADO
CDBG
CDBG-R
1911 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOSITION C
PROPOS ITION A
PUBLIC SAFETY GRANTS
MEASURER
MEASUREM
HABITAT RESTORATION
SUBREG ION 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
SublDlal
GRAND TOTAL
BALANCE
FORWARD
28,331 ,968.79
0 .00
27,680,539 .45
2 ,750 ,399 .38
0 .00
320 ,327 .10
0.00
30,751 ,265.93
1.138, 166 .60
29 ,223 .69
41 ,406 .19
0 .00
0 .00
1 ,715 ,917 .04
320 ,995 .56
139 ,764 .68
1,017 ,490 .35
1,486,437 .46
165 ,889 .50
1,791 ,062 .76
423 ,272.55
442 ,234 .60
739 ,623 .39
0 .00
192 ,738 .26
0 .00
0.00
792 ,377.59
0 .00
23,687.89
4 ,881 ,597 .87
820 ,424 .39
284 ,733 .80
878 ,689 .42
167 ,439 .64
0 .00
0 .00
0 .00
0 .00
1,023 ,529 .10
0 .00
167,440 .12
0.00
753 ,694 .05
19,437,836.50
78,521 ,069.22
CITY OF RANCHO PALOS VERDES
MONTHLY T REASURER'S REPORT
MARCH2022
DEB IT CREDIT CASH
4 ,495,278.94 4 ,786,047.85 28,061 ,197.88
0 .00 0 .00 0 .00
638 ,250 .00 80 ,189 .37 28 ,238 ,600 .08
77 ,100 .00 2 ,1 95 .93 2 ,825 ,303 .45
0.00 0 .00 0 .00
160,000 .00 0 .00 480 ,327 .10
0.00 0.00 0 .00
875,350.00 82 ,385 .30 31 ,544 ,230.63
139,700 .61 107,716 .79 1,170,150.42
0.00 0.00 29 ,223 .69
19 .46 0 .00 41 ,425 .65
11 ,426 .36 0.00 11 ,426 .36
0 .00 0.00 0 .00
5,033 .37 49 ,172 .49 1,671 ,777 .92
38 ,885 .20 9,600 .22 350 ,280 .54
12,571 .69 9 ,000 .00 143,336 .37
67 ,664 .04 10 ,940 .50 1,074 ,213 .89
81 ,574 .67 0.00 1,568 ,012 .13
0 .00 50 ,000 .00 115 ,889 .50
50 ,726.47 13 ,79 1.83 1,827 ,997 .40
132,307 .06 36 ,713 .90 518,865 .71
0 .00 38 ,789 .00 403 ,445 .60
7,500 .00 2,958 .03 744 ,165 .36
37 ,500 .00 37 ,500 .00 0 .00
0 .00 2,526 .86 190,211 .40
0 .00 0.00 0 .00
0.00 0 .00 0 .00
7 ,000 .00 2 ,945 .68 796 ,431 .91
0 .00 0 .00 0 .00
0 .00 9,505 .00 14 ,182.89
0 .00 50 ,703 .00 4 ,830 ,894 .87
0 .00 38 ,097 .84 782 ,326 .55
0 .00 0 .00 284 ,733.80
0.00 0 .00 878 ,689 .42
0 .00 20 ,556 .00 146 ,883 .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
0.00 114 ,854 .16 908 ,674 .94
0 .00 0 ,00 0 .00
0 .00 0 .00 167,440 .12
0.00 0 .00 0 .00
186 ,920 .10 29 ,155 .71 911 ,458 .44
778,829.03 ~.527 .01 19 582,138.52
8,149,457.97 5 ,482,960.18 79,187,567.03
Total Investment: 79 ,187 ,56 7.03
Change In
Ending Cash
Balance
(270,768.91
0 .00
558 ,060 .63
74 ,904 .07
0.00
160,000 .00
0.00
792,964.70
31 ,983 .82
0.00
19 .46
11 ,426 .36
0 .00
(44 ,139.12)
29 ,284 .98
3,571 .69
56 ,723 .54
81 ,574 .67
(50 ,000 .00)
36 ,934 .64
95,593 .16
(38 ,789 .00
4 ,541 .97
0 .00
(2 ,526 .86)
0.00
0 .00
4 ,054 .32
0 .00
(9 ,505 .00 '
(50,703 .00 '
(38 ,097 .84 :
0.00
0 .00
c20 ,sss.oo :
0.00
0 .00
0 .00
0.00
(114 ,854 .16
0 .00
0 .00
0.00
157,764.39
144,302.02
866,497.81
Change In
Ending Cash
Balance in%
-1%
0%
2%
3%
0%
50%
0%
3%
3%
0%
0%
0%
0%
-3%
9%
3%
6%
5%
-30%
2%
23 %
-9%
1%
0%
-1%
0%
0%
1%
0%
-40%
-1%
-5%
0%
0%
-1 2%
0%
0%
0 %
0%
-11%
0%
0%
0%
21%
1%
1%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
MARCH 2022
luuerof Acqulaitlon Maturity -Book 1,,...._ I-CUIIIPII D11111 Term Data Valua Value Ylold
local Aqency Investment Fund (LAIF-CITY) State of California NIA N/A On Demand s 48,295,964 S 48,295,964 0 .37%
Note (1)
CO -Non-Negotiable Malaga Bank 2/2'J/2.022 6Mos Bl22/2022 s 250,000 s 250,000 0.20%
CD -Non-Negotiable Malaga Bank 2/2312022 6Mos 8122/2022 s 4 ,058,937 s 4 ,058,937 0 .20%
CD -Bank of New York -Vining Sparks (Non-Allegiance Bank
Negotiable) Texas 01748DAY2 11/3l2017 60Mos 11/312D22 s 250,000 s 250,000 2 .20%
Ally Bank 02007GKW2 7/25/2019 36Mos 7/25/2.022 s 250,000 s 250,000 2.1 5%
American Bank Na
le Mars 024373AZ5 9/27/2019 36Mos 9/27/2022 $ 250,000 s 250,000 1.65%
American Express
Centurion 02587DN38 3121/2017 60Mos 4/5/2.022 s 250,000 s 250,000 2 .45%
American Expr Natl
Bank 02589ABM3 3/3/2022 36Mos 3/3/2025 $ 250,000 s 250,000 1.80%
AUBSTB 05059LAC6 3/31/2022 48Mos 3/31/2026 s 250,000 s 250,000 2 .10%
AXOSBank 054650AK4 3/26/2020 48Mos 3/26/2024 $ 250,000 s 250,000 1.65%
BMW Bank of
Northern America 05580A845 7/2312021 36Mos 7/2312024 s 250,000 s 250,000 0 .50%
Bobin 06063HMT7 7/22/2020 60Mos 7'2212025 s 250,000 s 250,000 0.65%
Bank of Deerfield 061785EG2 9/25/2019 42Mos 3124/2023 s 250,000 s 250,000 1.65%
Bank Forwaro 062163BN9 12/2812019 60Mos 12/18/2024 s 250,000 s 250,000 1.75%
HAPOAL O 1 f2
12/15125 06251A2Q2 12/14/2020 60Mos 12/25/2025 s 250,000 s 250,000 0 .50%
Bankunited 0665190KB 3/5/2.021 60Mos 3/5/2026 s 250,000 s 250,000 0 .65%
Barclays Bank
Del-.i 06740KKD8 7/12/2017 60Mos 7/12/2022 s 250,000 s 250,000 2 .20%
Baycoast Bank 072727AZ.3 1'24/2020 60Mos 1'24/2025 s 250,000 s 250,000 1.70%
Beal Bank USA 07371CK32 3/4/2022 48Mos 3/4'2026 s 250,000 s 250,000 1.90%
Business Bk of SI.
Louis 12325EHV7 7/19/2017 60Mos 7/19/2022 s 250,000 s 250 ,000 2 .05%
CIT Bank 12556LBB1 812312019 30Mos 2/23/2022 $ 250,000 s 250,000 1.95%
Capital On 14042RQBO 11 f.l0/2021 60Mos 11117'2026 s 250,000 s 250,000 1.10%
Capital One Bank
USA 14042TB08 7'24/2019 36Mos 7'25/2022 s 250,000 s 250,000 2.1 0%
Celtic Bank 15118RUX3 4/17f2020 60Mos 4/17/2025 s 250,000 s 250 ,000 1.50%
Conned.one Bank 20786ADL6 9/24/2021 60Mos 9'27/2026 s 250,000 $ 250,000 0 .80%
Crossfirs1 Bank 22766ABBO 6/9/2017 60Mos 6/9/2022 s 250,000 s 250,000 2 .05%
Eaglabank 27002YET9 1117/2020 36Mos 1/17/2023 s 250,000 s 250,000 1.70%
Eaglemar1< Savings
Bank 27004PCM3 3l2/2022 60Mos 3/2/2027 s 250,000 $ 250,000 2 .00%
FMBKWI 1.2 307811DP1 1/14/2022 60Mos 1/14/2027 s 250,000 s 250,000 1.20%
First Bank of
Highland 319141GE1 6/7'2017 60Mos 617/2022 s 250,000 s 250,000 2 .1 0%
FNWB 32022EAW6 12/29/2021 60Mos 12/29/2026 s 250,000 s 250,000 1.05%
First Internet Bank of
In 32056GCQ1 7114/2017 60Mos 7/14/2022 s 250,000 $ 250,000 2 .05%
First Natl
Bank/DAMA 32117BEQ7 1'2fYJ/2021 60 Mos 12/30/2026 $ 250,000 $ 250,000 1.25%
Flagstar Bank 33847E2J5 6/12/2019 36Mos 6/1312022 s 250,000 s 250,000 2 .50%
Goldman Sachs
Bank USA 38149MAU7 5131'2019 36Mos 5131/2022 s 250,000 s 250,000 2 .50%
lnduslfial&Com Bank
China 45581EAF8 6/2/2017 60Mos 6/2/2022 s 250,000 $ 250,000 2 .05%
lnterctedit Bank NA 458657MC4 1'20'2022 60Mos 1f29f2027 s 250,000 s 250,000 1.35%
JP Morgan Chase
Bank 48128UMX4 9/30/2020 60Mos 9/30/2025 $ 250,000 s 250,000 0 .30%
l CA Bank Corp 801798LK6 1/12/2018 60Mos 1112/2023 s 250,000 s 250,000 2 .35%
Live Oak Bankinig 538036UG7 2/1'2022 48Mos 2/2/2026 s 250,000 s 250,000 1.25%
MAGBNC 559582AL5 10l30/2020 54Mos 4/30/2025 s 250,000 s 250,000 0 .40%
Malaga Bank FSB 56102AAJ5 5'29/2020 60Mos 5129'2025 s 250,000 s 250,000 0 .70%
A-4
CITY OF RANCHO PALOS VERDES
MONTHL Y TREASU RER'S REPORT
MARCH2022
luuerof Acquloltlon ll■turtty M ■rMt Book
-I ..,_ CUSIPf D■I■ T■m1 D■I■ V■l ue v.i .. Ylold
Marlin Business
Bank 57116ATM0 1/15/2020 SO Mos 1/15/2025 s 250,000 s 250,000 1.75%
Medallion Bank Utah 58404DFE6 9/18/2019 36 Mos 9/19/2022 s 250,000 $ 250,000 1.70%
Merrick Bank 59013JC23 10/11/2017 SO Mos 10/11/2022 s 250,000 $ 250,000 2 .10%
Mid-Missouri Bank 595411<8P1 1/19/2018 60Mos 1/19/2023 s 250,000 s 250,000 2 .35%
Morgan Stanley PVT
Bank 61760AZ51 9/19/2019 48Mos 9/19/2023 s 250,000 s 250,000 1.85%
NCWl1.15 633368FJ9 1/19/2022 SO Mos 1/19/2027 $ 250,000 s 250 ,000 1.15%
NewYor1<
Community Bank 649447UP2 6/3/2021 36Mos 6/3/2024 s 250,000 s 250,000 0.35%
Northfiled Bank 66612ABX5 10/25/2017 SO Mos 10/25/2022 s 250,000 s 250,000 2 .15%
OlDDNB 1.5 679585AZ2 1/20/2022 60Mos 1/20/2027 s 250,000 $ 250,000 1.15%
Pathfinder Bank 70320KBR1 1/29/2022 60Mos 1/29/2027 s 250,000 $ 250,000 1.20%
Preferred Bank LA 740367MA2 7/17/2020 60 Mos 7/17/2025 s 250,000 $ 250,000 0 .50%
Raymond James
Bank 75472RAN1 11/26/2019 72 Mos 11/26/2024 s 250,000 s 250,000 1.85%
Sallie Mae Bank/Salt
lake 7954504P7 11/16/2019 SO Mos 10/16/2024 $ 250,000 s 250,000 1.90%
Signature Bk
Chicago 82669VBY6 11/8/2017 60Mos 11/8/2022 s 250,000 s 250,000 2 .15%
State 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 9/18/2023 $ 250,000 $ 250,000 1.65%
Synchrony Bank 87165HRY8 6/2/2017 SO Mos 6/2/2022 s 250,000 $ 250,000 2.40%
BKCROW 88241TJJ0 10/23l2020 SO Mos 10/23/2025 s 250,000 s 250,000 0.60%
Texas Exchange
Bank 88241TJN1 11/25/2020 60Mos 11/25/2025 s 250,000 $ 250,000 0 .60%
Texas Exchange
Bank 88241TJR2 12/18/2020 SO Mos 12/18/2025 s 250,000 s 250,000 0.60%
Toyota Financial
Svgs Bank 89235MlE9 7/29/2021 SO Mos 7/29/2026 s 250,000 s 250,000 0 .95%
USB Bank USA 90348JN30 6124/2021 36Mos 6124/2024 s 250,000 $ 250,000 0.35%
United Bankers Bank 909557JP6 12/16/2021 56Mos 8/17/2026 s 250,000 $ 250,000 1.00%
Vision Bank of Iowa 92834CCL4 11/29/2019 72Mos 11/29/2024 s 250,000 s 250,000 1.75%
Wells Fargo Nat'I
Bank West 949495AQ8 1/17/2020 36 Mos 1/17/2023 s 250,000 $ 250,000 1.90%
Wells Fargo Bank 949763D45 6/10/2019 36Mos 6/10/2022 s 250,000 s 250,000 2.50%
Treasury-Bank of New Y<><1<(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 912828XZB 6/30/2020 SO Mos 6/30/2025 s 1,000,000 s 1,000,000 2.75%
United States Treas 91282CBC4 1/12/2021 60 Mos 12/31/2025 s 2,000,000 s 2 ,000,000 0.38%
United States Treas 3133EMZ21 8/612021 54Mos 4J6/2026 s 1,000,000 $ 1,000,000 0 .69%
Total Investment S 73,854,901
&.mma,y: Weighted Retum 0 . 73"
local Agency Investment Fund (lAIF-CITY) 48,295,964.35
Certificate of Deposit -Malaga Bank 250,000.00
Certif,cate of Deposit -Malaga Bank 4,058,936.63
Certificate of Deposit -Vining Sparks 16,250,000.00
Treasury Bills -Vining Sperka 5,000,000.00
Total Investment 73,854,900.98
A-5
Malaga Bank -CD
5%
NOTE:
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
MARCH2022
SUMMARY OF CASH BALANCE BY INSTITUTION
MARC H 2022
Vining Sparks -Treasury
6%
Bank of the West
7%
Vi ning Sparks -Money Market
°"
State of california -LAIF
61%
(1) LAIF marl<et values will be reported to very from book value if the City calrulated share of total LAIF assets ia less than the City book value .
To the bast 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 ell City investments and complies with the investment policy of the C ity
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 e,cpenditure requirements for the next six months.
Respectfully submitted,
Dated