CC SR 20220607 D - City April Treasury Report
CITY COUNCIL MEETING DATE: 06/07/2022
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the April 2022 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the April 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
April 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 $88 million, with over $58 million or
66% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has
over $3 million or 3% 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
$17.5 million or 20%, Treasury Bills at $5 million or 6% of the total cash balance, and a
money market account of over $31,000 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 approximately $30 million or 34% in the cash
balance, and the Capital Infrastructure Program (CIP) Fund has over $36 million or 41%
in cash balance. The remaining cash balances are in the Equipment Replacement Fund
with over $2.8 million or 3%, over $1.8 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 19% in Other Restricted Funds.
The City’s cash balance increased by approximately $23 million compared to the April
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 Commu nity Park Project, and the
remaining $10.1 million is a combination of increased revenues and timing of
disbursements in the General Fund and Other Special Revenue funds.
In comparison to the balance from last month, March 2022, the City’s cash balance
increased by $9 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, Crosstown Electrical for traffic signal
installation at Palos Verdes Drive East and Palos Verdes Drive South, Fire G razers for
goat grazing fuel modification at Preserve areas, Geosyntec Consultant for the Peninsula
Coordinated Integrated Monitoring Program (CIMP) implementation, Hardy and Harper
for roadway maintenance and repair, the Los Angeles County Sheriff’s Department for
law enforcement services, and Stay Green for landscape maintenance services. 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 :TRANSFERSIN
LESS TRANSFERS OUT
ENDING BALANCE
(1) All LAIF interest is paid quarterly.
(2) Electronic Disbursements :
Payroll
Payroll Charges
Sa les Taxes
Postage
HSA
Bank and Merchant Fees
Bank of the West
Operating
5,273 ,860.99
5,496 ,022 .24
(3 ,008 ,357 .95)
(1 ,064 ,491 .15)
(116 .95 )
8,000 ,000 .00
(11 ,525 ,000 .00)
3,171 ,917 .18
569 ,263 .64
384 ,013.44
1,829 .00
2 ,500.00
93,075 .00
13,810.07
1,064 ,491 .15
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2022
Malaga Bank
Non-Negotiable Vining Sparks
Petty Cash LAIF-CITY CD Money Market
5,000 .00 48 ,295 ,964 .35 4 ,308 ,936.63 53 ,805 .06
36 ,233 .19
(22 ,780.82 )
10 ,000,000 00
5,000 .00 58 ,332 ,197.54 4,308 ,936.63 31 ,024 .24
(3) The net adjustment was due to a void check and miscellaneous adjustment.
APRIL 2022 CASH BALANCE BY MAJOR FUNDS
0% 1% I/.
Vining Sparks
Investment Total Cash
21 ,250 ,000 .00 79 ,187 ,567 .03
5,496 ,022 .24
36 ,233 .19
(3,008 ,357.95)
(1,064,491 15)
(22 ,897.77 )
1,250 ,000 .00 19 ,250 ,000 .00
(11 ,525 ,000.00 )
22 ,500 ,000 .00 88 ,349 ,075 .59
■GENERAL FUND 34%
II CIP 41%
■ EQUIPMENT REPLACEMENT 3%
111911 ACT 2%
CHABITAT RESTORATION 0%
CQUIMBY 1%
COTHER RESTRICTED FUNDS 19%
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 by Law or External Agencies
STRFFT MAINTFNANC:F
1972 ACT
EL PR ADO
CDBG
CDBG-R
1911 ACT
SOLID WASTE
AIR QUALITY MANAGEMENT
PROPOSITION C
PROPOSITION A
PUBLIC SAFETY GR A NTS
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
MEASURE W
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECI AL TRUSTS
Subtotal
GRAN D TOTAL
BALANCE
FORWARD
28,021 ,543 .99
0 00
28 ,260 ,871.89
2 ,827 ,522 .83
0.00
480 ,625 .61
0.00
3 1,569 ,020 .33
1,171 ,052 .45
Li:J,.!4/ .U:l
41 ,458 .61)
11 ,426 .36
0.00
1,673 ,129.86
350 ,559.52
143,448.97
1,075,018.75
1,569 ,193 .21
116 ,007 .73
1,829 ,421 .72
519 ,236.06
403 ,788.59
744,758.39
0.00
190,363.90
0 00
0 .00
797 ,065.45
0.00
14 ,200 .94
4 ,834,787 .7 2
782 ,975 .06
284 ,961.27
879 ,391.37
147 ,009 .85
0.00
0.00
0.00
0 00
909,467.50
0 00
167 ,573 .88
0.00
911,458.44
19,597 ,002.71
79,1 87,567.03
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2022
DEBIT CREDIT CASH
26 ,8 19 ,494 .75 24 ,991 ,965 .1 2 29,84 9,073 .62
0 .00 0.00 0.00
8 ,015 ,654.43 194 ,013.66 36,082 ,512 .66
1,559 .95 19,159.54 2,809,923.24
0 00 0.00 0 .00
209 .81 0.00 480 ,835.42
0.00 0.00 0.00
8,01 7,424 .19 2 13 ,173 .20 39 ,373 ,271 .32
14 2,793 .66 151,330 .llll 1,162 ,515.12
11:i.41 0 00 29 ,263.44
Q2~ 80 0.00 ~2 ,383 .~8
460.00 690 .00 11,196.36
0 .00 0 00 0.00
232 ,967 .50 12 ,465.44 1,893 ,631 .92
20,743.43 27 ,994.53 343 ,308.42
7 9.15 4,500.00 139,028.12
65 ,823.47 502 ,679 .14 638 ,163 .08
79 ,503.84 423.43 1,648 ,273 .62
30,083 .10 0 00 146 ,090.83
49 ,914 .08 48 ,239.25 1,831 ,096 .55
55 ,527 .91 62 ,094.24 512 ,669.73
241 .09 219.00 403 ,810 .68
416.83 5 ,367 .71 739 ,807 .51
0 .00 0.00 0.00
13 ,183.06 40 ,044.04 163 ,502 .92
0.00 0.00 0.00
0.00 0.00 0 00
2,445.31 1,062 .93 798 ,447 .83
0.00 0.00 0.00
18 ,163.32 32 ,364.26 0 00
2 ,736.20 187 ,630 .50 4 ,649 ,893.42
455 .83 22 ,119.86 761 ,31 1.03
159.88 0 00 285 ,121 .15
493.39 0.00 879,884.76
88.71 10,278.00 136 ,820 .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
557 .08 71,791.24 838,233.34
0.00 0.00 0.00
94.02 0.00 167 ,667.90
0.00 0 00 0.00
33 ,496.63 40 ,346.20 904 ,608.87
75 1,368 .70 1,221 ,640 .76 19,126 ,730.65
35 ,588 ,287 .64 26 ,426 ,779 .08 88 ,349 ,075.59
Total Investment: 88 ,349 ,075 .59
Change In
Ending Cash
Balance
1,82 7,529 .63
0.00
7 ,821,640.77
(17 ,599.59)
0 .00
209.81
0 .00
7,804 ,250 .99
(8 ,537.3 3)
16.41
82 4.80
(230.00)
0.00
220,502.06
{7 ,251.10)
(4,420 .85)
(436 ,855 .67)
79,080.41
30,083 .10
1,674.83
(6 ,566.33)
22 .09
(4 ,950.88)
0.00
(26 ,860 .98)
0 00
0 .00
1,382 .38
0.00
(14 ,200 .94)
(184 ,894.30)
(21 ,664.03)
159 .88
493.39
(10 ,189 .29)
0.00
0.00
0 .00
0 00
(71 ,234 .16)
0.00
94 .02
0.00
(6,849.57)
(470 ,272 .06
9,161 ,508 .56
Change In
Ending Cash
Balance in %
7%
0%
28%
-1 %
0%
0%
0%
25 %
-1 %
0%
2%
-2%
0%
13%
-2%
-3 %
-41%
5%
26%
0%
-1 %
0%
-1%
0%
-14%
0%
0%
0%
0%
-100%
-4 %
-3 %
0%
0%
-7 %
0%
0%
0%
0%
-8%
0%
0%
0%
-1 %
-2%
12%
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
APRIL 2022
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP# Date Term Date Value Value Yield
Local Agency Investment Fund (LAIF-CITY) State of California N/A N/A On Demand $ 58,332 ,198 $ 58 ,332 ,198 0.52%
Note (1 )
CD -Non-Negotiable Ma laga 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 01748DAY2 11/3/2017 60 Mos 11/3/2022 $ 250,000 $ 250,000 2.20%
Ally Bank 02007GKW2 7/25/2019 36 Mos 7/25/2022 $ 250,000 $ 250 ,000 2.15%
American Bank Na
Le Mars 024373AZ5 9/27/2019 36 Mos 9/27/2022 $ 250,000 $ 250,000 1.65%
American Expr Natl
Bank 02589ABM3 3/3/2022 36 Mos 3/3/2025 $ 250,000 $ 250,000 1.80%
AUBSTB 05059LAC6 3/31/2022 48 Mos 3/31/2026 $ 250,000 $ 250 ,000 2 .10%
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 0.50%
Babin 06063HMT7 7/22/2020 60 Mos 7/22/2025 $ 250,000 $ 250 ,000 0.65%
Bank of Deerfield 061785EG2 9/25/2019 42 Mos 3/24/2023 $ 250,000 $ 250 ,000 1.65%
Bank Forward 062163BN9 12/28/2019 60 Mos 12/18/2024 $ 250,000 $ 250,000 1.75%
HAPOAL 0 1/2 06251A2Q2 12/14/2020 60 Mos 12/25/2025 $ 250,000 $ 250,000 0.50%
Bankbk 2.05 06610RBL2 4/14/2022 42 Mos 10/14/2025 $ 250,000 $ 250,000 2 .05%
Bankunited 066519QK8 3/5/2021 60 Mos 3/5/2026 $ 250,000 $ 250,000 0.65%
Barclays Bank
Delaware 06740KKD8 7/12/2017 60 Mos 7/12/2022 $ 250,000 $ 250 ,000 2.20%
Baycoast Bank 072727AZ3 1/24/2020 60 Mos 1/24/2025 $ 250,000 $ 250 ,000 1.70%
Beal Bank USA 0737 1CK32 3/4/2022 48 Mos 3/4/2026 $ 250,000 $ 250 ,000 1.90%
Business Bk of St.
Louis 12325EHV7 7/19/2017 60 Mos 7/19/2022 $ 250,000 $ 250 ,000 2.05%
CIT Bank 12556LBB1 8/23/2019 30 Mos 2/23/2022 $ 250,000 $ 250,000 1.95%
Capital On 1.100 14042RQB0 11/30/2021 60 Mos 11/17/2026 $ 250,000 $ 250,000 1.10%
Capital On 2.800 14042RQS3 4/20/2022 60 Mos 4/20/2027 $ 250 ,000 $ 250 ,000 2.80%
Capital One Bank
USA 14042TBD8 7/24/2019 36 Mos 712512022 $ 250,000 $ 250 ,000 2 .10%
Celtic Bank 15118RUX3 4/17/2020 60 Mos 4/17/2025 $ 250,000 $ 250 ,000 1.50%
Comenity C 2 .650 20033A3A2 4/14/2022 60 Mos 4/14/2027 $ 250,000 $ 250 ,000 2 .65%
Connectone Bank 20786ADL6 9/24/2021 60 Mos 9/27/2026 $ 250,000 $ 250 ,000 0.80%
Crossfirst Bank 22766ABB0 6/9/2017 60 Mos 6/9/2022 $ 250,000 $ 250 ,000 2.05%
Discover Bank 254673B70 4/28/2022 36 Mos 4/28/2025 $ 250,000 $ 250 ,000 2.80%
Eaglebank 27002YET9 1/17/2020 36 Mos 1/17/2023 $ 250,000 $ 250,000 1.70%
Eaglemark Savings
Bank 27004PCM3 3/2/2022 60 Mos 3/2/2027 $ 250,000 $ 250,000 2 .00%
FMBKWI 1.2 307811DP1 1/14/2022 60 Mos 1/14/2027 $ 250,000 $ 250,000 1.20%
First Bank of
Highland 319141GE1 6/7/2017 60 Mos 6/7/2022 $ 250,000 $ 250 ,000 2 .10%
FNWB 32022EAW6 12/29/2021 60 Mos 12/29/2026 $ 250,000 $ 250 ,000 1.05%
Fi rst Internet Bank of
In 32056GCQ1 7/14/2017 60 Mos 7/14/2022 $ 250,000 $ 250 ,000 2.05%
First Natl
Bank/DAMA 32117BEQ7 12/30/2021 60 Mos 12/30/2026 $ 250,000 $ 250 ,000 1.25%
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%
lndustrial&Com Bank
China 45581EAF8 6/2/2017 60 Mos 6/2/2022 $ 250,000 $ 250 ,000 2.05%
lntercredit Bank NA 458657MC4 1/20/2022 60 Mos 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 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 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
APRIL 2022
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP# Date Tenn Date Value Value Yield
Marlin Business
Bank 57116ATM0 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 1.70%
Merrick Bank 59013JC23 10/11/2017 60 Mos 10/11/2022 $ 250 ,000 $ 250,000 2.10%
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 1.85%
NCWI 1.15 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%
Northfiled 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 60 Mos 7/17/2025 $ 250,000 $ 250,000 0.50%
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 60 Mos 10/16/2024 $ 250 ,000 $ 250,000 1.90%
Signature Bk
Chicago 82669VBY6 11/8/2017 60 Mos 11/8/2022 $ 250,000 $ 250,000 2.15%
State Bank of India 856285RS2 11/27/2019 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 88241T JJ0 10/23/2020 60 Mos 10/23/2025 $ 250 ,000 $ 250,000 0.60%
Texas Exchange
Bank 88241TJN1 11/25/2020 60 Mos 11/25/2025 $ 250,000 $ 250,000 0.60%
Texas Exchange
Bank 88241T JR2 12/18/2020 60 Mos 12/18/2025 $ 250,000 $ 250,000 0.60%
Toyota Financial
Svgs Bank 89235MLE9 7/29/2021 60 Mos 7/29/2026 $ 250,000 $ 250,000 0.95%
USB Bank USA 90348JN30 6/24/2021 36 Mos 6/24/2024 $ 250 ,000 $ 250 ,000 0.35%
United Bankers Bank 909557JP6 12/16/2021 56 Mos 8/17/2026 $ 250,000 $ 250,000 100%
Vision 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 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 60 Mos 6/30/2025 $ 1,000 ,000 $ 1,000,000 2.75%
United States Treas 91282CBC4 1/12/2021 60 Mos 12/31/2025 $ 2,000 ,000 $ 2,000,000 0.38%
United States Treas 3133EMZ21 8/6/2021 54 Mos 4/6/2026 $ 1,000 ,000 $ 1,000,000 0.69%
Total Investment $ 85 ,141 ,134
Summary: Weighted Return 0.82%
Local Agency Investment Fund (LAIF-CITY) 58 ,332 ,197.54
Certificate of Deposit -Malaga Bank 250,000.00
Certificate of Deposit -Malaga Bank 4 ,058,936.63
Certificate of Deposit -Vining Sparks 17 ,500 ,000.00
Treasury Bills -Vining Sparks 5,000 ,000 .00
Total Investment 85 ,141,134.17
A-4
Malaga Bank -CD
5%
NOTE:
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
APRIL 2022
SUMMARY OF CASH BALANCE BY INSTITUTION
APRIL2022
Vining Sparks -Treasury Bank of the West
Vin i ng Sparks -Money Market
0%
6% 3%
State of California -LAIF
66%
(1) LAIF market va lues 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 in vestments and complies w ith 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