CC SR 20221004 D - July Treasury Report
CITY COUNCIL MEETING DATE: 10/04/2022
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive and file the July 2022 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the July 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
July 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 approximately $95 million, with over $59
million or 63% of the total cash balance in the Local Agency Investment Fund (LAIF). The
City has over $6 million or 6% of the total cash balance with Bank of the West and over
$4 million or 4% with Malaga Bank. In addition, the City has Certificates of Deposit (CD)
investments approximately $18 million or 19%, Treasury Bills and Agency Bonds at $6.5
million or 7% of the total cash balance, and a money market account of over $0.7 million
or 1% with Stifel, our investment brokerage firm. The City holds a money market account
with Stifel for the transaction of selling and purchase purposes. The securities are held
by the Bank of America and are FDIC-insured.
1
RANCHO PALOS VERDES
7L
{Vl
In summary, the City’s General Fund has over $27 million or 29% in the cash balance,
and the Capital Infrastructure Program (CIP) Fund has over $38 million or 41% in cash
balance. The remaining cash balances are in the Equipment Replacement Fund with over
$2.8 million or 3%, approximately $2 million or 2% in the 1911 Act Fund, over $0.3 million
or less than 1% in the Habitat Restoration Fund, over $0.7 million or 1% in the Quimby
Fund, and over $22 million or 24% in Other Restricted Funds.
The City’s cash balance increased by approximately $23.5 million compared to the July
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 received in July
2021, the second payment of American Rescue Plan Act of $4.9 million received in July
2022, $8 million from Bank of the West for the funding of the Ladera Linda Community
Park Project, and the remaining $5.7 million is a combination of solid recovery of revenues
from the pandemic and timing of disbursements in General Fund and Other Special
Revenue funds.
In comparison to the balance from last month, June 2022, the City’s cash balance
increased by $2.8 million, mainly attributed to the timing of disbursements for City-
approved projects. The major disbursements for this month included Aleshire & Wynder
for legal services, AMG & Associates for the Ladera Linda Community Park Project, Hout
Construction Services for the Portuguese Bend Landslide project, Hardy & Harper for the
Palos Verdes Drive South landslide repair project, Stay Green for landscape
maintenance, Tyler Technologies for the annual financial system support, CalPERS for
the employer contribution on the unfunded liability payment, and York Point View
Properties for the acquisition of the Plumtree/Lower Filiorum propert ies. All expenditures
were disbursed in accordance with the Fiscal Year 2022-2023 budget.
2
A-1
BEGINNING BALANCE
PLUS : DEPOSITS
PLUS : INTEREST EA RNINGS(1)
LESS : CHECK DISBURSEMENTS
LESS : ELECTRONIC DISBURSEMENTS(2 )
ADJUSTMENTS(3)
PLUS :TRANSFERSIN
LES S: TR ANSFERS OUT
ENDING BALANC E
(1 ) All LAIF interest is paid quart811y .
(2) Electronic Disbursements :
Payroll
Payroll Chllfg&S
Sa les Taxes
Cal Pers Lump Payment
Bani< and Merchant Fees
Bank of Ille Welt
Operating
3 ,294,065.71
7 ,894 ,228.34
(2,038,190.01)
(1,910,053.08)
(1 ,195 ,000.00)
6 ,045,050 .96
515,850.43
270,244.43
2 ,970,00
1,103,702.00
17,286.22
1,91 0 ,053.08
CllY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2022
Malaga Ban k
No ..........
~Cah I.Alf-CITY CD
5,000.00 59,332 ,197.54 4,316,827 .49
106,393.94 2 ,897.55
5 ,000 00 59 ,438 ,591 .48 4,319,725 04
JULY 2022 CASH BALANCE BY MAJOR FUNDS
0%1 %
-llonoy lla<1cot
2n,604.34
515,833.67
788,438 0 1
lthl -nt Tolal Cah
24,750,000.00 91,970,695.08
7,894,226.34
109,291.49
(2 ,038,190.01)
(1 ,910,053 .08)
(500,000.00) 15,833.67
(1 ,195 ,000.00)
24 ,250,000.00 94 ,846,805 49
■GENERAL FUN D 29%
■C IP 41%
■E QU IPME N T REPLACEMENT 3%
■1911 ACT2%
DHABITAT RESTORATION 0%
■QUIMBY 1%
■OTHER RESTRICTED FUNDS 24%
A-2
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted by Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUI LDING REPLACEMENT
EMPLOYEE PENSION PLAN
EMPLOYEE BENEFITS
Subtolal
Restricted by Law or External AQencies
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 BEAUTIFICATION
MEASUREW
WATER QUALITY FLOOD PROTECTION
REDEVELOPMENT OBLIGATION RETIRE
IMPROVEMENT DISTRICT 9
SPECIAL TRUSTS
SllbloCal
GRAND TOTAL
CITY OF RANCHO PALOS VERDES
MONTHLY TR EASURER'S REPORT
JULY2022
BALANCE
FORWARD DEBIT CREDIT
29,475 1162.00 10,022864.26 1171111119.34
0 .00 0 .00 0 .00
38 ,945 ,928 .50 43 ,258 .77 65 ,614 .29
2 ,869,236 .76 3 ,314 .76 0 .00
0 .00 0 .00 0 .00
644 ,616.09 625.98 0 .00
0 .00 0 .00 0 .00
42,479981.35 47119.51 15614.29
1,420,266 .85 167,176.11 64 ,363 .46
29 ,461 .51 34 .29 0 .00
43 ,006 .44 160.32 0 .00
17,553.56 0 .00 0 .00
0 .00 0 .00 0 .00
1,920,671.59 35 ,595.36 27 ,446 .63
410,511 .87 10 ,007.63 29 ,176 .12
149,077 .17 164 .68 9 ,000 .00
747 ,656 .95 90 ,474.92 29 ,480.16
1,646 ,727 .56 110,150 .77 534 .00
107 ,060 .15 155.57 0 .00
1,861 ,626 .63 69 ,426 .18 4 ,756 .75
564 ,199.31 76 ,760 .33 36 ,161 .44
367 ,736 .48 457 .91 131 .00
749 ,046 .40 868 .06 5 ,394 .74
0 .00 193,642 .00 88,521 .97
155,612 .31 2 ,216.94 2 ,499.78
0 .00 0 .00 0 .00
0 .00 0 .00 0 .00
610 ,564 .66 8 ,939 .59 2 ,212 .02
0 .00 0 .00 0 .00
0 .00 0 .00 0 .00
4 ,575 ,956 .22 4 ,972 ,807 .30 776 ,717.07
705 ,343.38 856.93 0 .00
287 ,245 .90 334 .13 0 .00
866,392 .06 1,023 .30 0.00
127,278 .95 7,956 .13 20 ,556.00
0 .00 0 .00 0 .00
28 ,107.64 10 .95 0 .00
0 .00 0 .00 0 .00
0 .00 0.00 0 .00
771,648.49 941 .65 42 ,278 .71
0 .00 0.00 0 .00
453 ,422 .35 307 .35 0.00
0.00 0 .00 0 .00
958 ,601 .26 38 ,029.50 13,784 .00
20,015 061.73 5,788,518 .12 1 155,037.85
91,970,695.08 15,858,581.89 12,982,471.48
Total Investment:
ChaOQe In ChanQe In
Ending Cash Ending Cash
CASH Balance Balance in%
27,736 696.92 (1 738 955.0I -6%
0 .00 0 .00 0%
38 ,923 ,572 .98 (22 ,355 .52 0%
2 ,692 ,55 1.52 3,314 .76 0%
0 .00 0 .00 0%
645 ,442 .07 625 .96 0%
0 .00 0 .00 0%
42,461,586.57 (11414.71 0%
1,523 ,099 .50 102 ,612 .65 7%
29 ,515.80 34 .29 0%
43 ,166 .76 180.32 0%
17 ,553.56 0 .00 0%
0 .00 0 .00 0%
1,928 ,620.32 6 ,146.73 0%
391 ,341 .58 (19 ,170.29 -5%
140,241 .65 (8 ,635 .32 -6%
606 ,651 .71 60,994 .76 8%
1,956,344 .33 109,616 .77 6%
107 ,235 .72 155 .57 0%
1,946 ,296 .06 64 ,667 .43 3%
622 ,778 .20 38 ,576 .69 7%
366 ,063 .39 326 .91 0%
744 ,519.74 (4 ,526 .66 -1%
105,120 .03 105,120.03 0%
155 ,329.47 (282.64) 0%
0 .00 0 .00 0%
0 .00 0.00 0%
617 ,312 25 6 ,727 .57 1%
0 .00 0 .00 0%
0 .00 0 .00 0%
8 ,772 ,046 .45 4 ,196,090 .23 92 %
706 ,200 .31 856 .93 0 %
287 ,580 .03 334 .13 0%
667,415 .36 1,023.30 0%
114,679 .08 (12 ,599 .87 -10%
0.00 0 .00 0 %
28 ,118 .59 10 .95 0%
0 .00 0 .00 0%
0 .00 0 .00 0%
730 ,511 .43 (41 ,337 .06 -5%
0 .00 0 .00 0%
453 ,729 .70 307 .35 0%
0 .00 0 .00 0%
982 ,846.78 24 ,245 .50 3%
24 848,542.00 4,633,'480.27 23%
k,846,80 U9 2,876,1 10.41 3%
94,846,805.49
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
JULY 2022
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP# Date Term Date Value Value Yield
Local Agency Investment Fund (LAIF-CITY) State of Cal~omia N/A N/A On Demand 59,438 ,591 S 59,438 ,591 1.09%
Note(1)
CD -Non-Negotiable Malaga Bank 2/23/2022 6 Mos 8/22/2022 $ 250,000 250 ,000 020%
CD -Non-Negotiable Malaga Bank 2/23/2022 6 Mos 8/22/2022 s 4 ,069,725 4,069,725 020%
CD -Bank of Amenca -Stifel (Non-Negotiable) A+ Fed Credit Union Austin 00224TA82 6/29/2022 60 Mos 6/29/2027 $ 250,000 250 ,000 355%
Allegiance Bank Texas 01748DAY2 11 /3/2017 60Mos 11/3/2022 s 250 ,000 $ 250,000 220%
American Bank Na Le Mars 024373AZ5 9/27/2019 36Mos 9/27/2022 $ 250,000 $ 250,000 165%
American Expr Nall Bank 02589ABM3 3/3/2022 36 Mos 3/3/2025 $ 250 ,000 $ 250 ,000 180%
AUBSTB 05059LAC6 3/31/2022 48 Mos 3/31/2026 $ 250,000 $ 250 ,000 210%
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%
Sobin 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 1.65 %
Bank Foiward 062163BN9 12/28/2019 60 Mos 12/18/2024 $ 250,000 250,000 175%
HAPOAL 0 1/2 06251A2Q2 12/14/2020 60 Mos 12/25/2025 $ 250 ,000 $ 250 ,000 050%
Bankbk 2 05 06610RBL2 4/14/2022 42 Mos 10/14/2025 $ 250,000 $ 250,000 205%
Bank united 066519QK8 3/5/2021 60 Mos 3/5/2026 $ 250,000 s 250,000 065%
Baxter Credit Union 07181JAB0 6/23/2022 36 Mos 6/23/2025 $ 250 ,000 $ 250 ,000 3.10%
Baycoast Bank 072727AZ3 1/24/2020 60 Mos 1/24/2025 $ 250,000 s 250,000 1 70 %
Beal Bank USA 07371CK32 3/4/2022 48 Mos 3/4/2026 $ 250 .000 250 ,000 1 90%
CIT Bank 12556LBB1 8/23/2019 30 Mos 2/23/2022 $ 250 ,000 250.000 195%
Capital On 1 100 14042RQBO 11/3012021 60 Mos 11/17/2026 $ 250,000 250.000 110%
Capital On 2.800 14042RQS3 4/20/2022 60 Mos 4/20/2027 $ 250.000 250,000 2 80%
Capital One National 14042RSK8 6/29/2022 48 Mos 6/1/2026 $ 250 ,000 s 250,000 340%
Celtic Bank 15118RUX3 4/17/2020 60 Mos 4/17/2025 $ 250 ,000 s 250,000 150%
Chief Finl Fed Cr Un
Rochester 16863LAB1 7/29/2022 60 Mos 7/29/2027 250 ,000 s 250.000 350%
Comernly C 2 650 20033A3A2 4/14/2022 60 Mos 4/14/2027 $ 250,000 $ 250,000 265%
Connectone Bank 20786ADL6 9/24/2021 60 Mos 9/27/2026 250.000 s 250,000 080%
Connexus Credi ! Union 20825WAT7 5/27/2022 36 Mos 5/27/2025 $ 250,000 $ 250.000 300%
Credit Un of Tex Allen 22551KA88 7/2212022 36 Mos 7/22/2025 250,000 $ 250 ,000 330%
Dart Bk Mason 237412ASO 6/22/2022 42 Mos 12/22/2025 $ 250,000 250,000 3.10%
Discover Bank 254673870 4/2812022 36 Mos 4/28/2025 $ 250 ,000 s 250 ,000 280%
Eaglebank 27002YET9 1/17/2020 36 Mos 1/17/2023 $ 250,000 250 .000 1 70%
Eagleman< Savings Bank 27004PCM3 3/2/2022 60 Mos 312/2027 $ 250.000 250.000 200%
FMBKWI 12 307811DP1 1/14/2022 60 Mos 1/14/2027 250,000 $ 250 ,000 120%
FNWB 32022EAW6 12/29/2021 60 Mos 12/29/2026 $ 250 ,000 $ 250,000 105%
First Nat'I Bank 32110YXG5 6/27/2022 60 Mos 6/24/2027 $ 250 .000 $ 250,000 325%
First Natl Bank/DAMA 32117BEQ7 12/30/2021 60 Mos 12/30/2026 $ 250,000 s 250,000 1 25%
Four Pis FCU Omaha 35089LAD5 6/29/2022 60 Mos 6/2912027 $ 250.000 s 250 .000 340%
Generations Bank 37149CAX5 5/1212022 60 Mos 5/12/2027 $ 250,000 s 250,000 3.10%
lntercredil Bank NA 458657MC4 1/20/2022 60 Mos 1/29/2027 $ 250,000 250 .000 135%
JP Morgan Chase Bank 48128UMX4 9/30/2020 60 Mos 9/30/2025 $ 250 .000 $ 250 ,000 030%
LCA Bank Corp 501798LK6 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 $ 250.000 125%
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-4
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
JULY 2022
Issuer of A~quisition Maturity Market Book
Investment Investment CUSII'# Date Tenn Date Value Value Yield
Marlin Business Bank 57116ATMO 1/15/2020 60Mos 1/15/2025 $ 250,000 s 250,000 175%
Medallion Bank Utah 58404DFE6 9/18/2019 36Mos 9/19/2022 s 250.000 s 250 ,000 170%
Memck Bank 59013JC23 10/11/2017 60 Mos 10/11/2022 $ 250.000 s 250,000 2 .10%
Mid-M issouri Bank. 59541KBP1 1/19/2018 60 Mos 1/19/2023 $ 250,000 s 250.000 235%
Morgan Stanley Bk 61690UK82 6/2/2022 36Mos 6/2/2025 s 250.000 s 250.000 3.05 %
Morgan Stanley PVT Bank 61760AZ51 9/19/2019 48 Mos 9/19/2023 $ 250,000 s 250.000 1 85%
NCWI 1.15 633368FJ9 1/19/2022 60Mos 1/19/2027 s 250.000 s 250 ,000 1 15"/o
New Yor1< Community Bank 649447UP2 6/3/2021 36 Mos 6/3/2024 $ 250 .000 250 ,000 035%
Northfiled Bank 66612ABX5 10/25/2017 60Mos 10/25/2022 $ 250,000 250 ,000 215%
Olddnb 1.5 679585AZ2 1/20/2022 60 Mos 1/20/2027 $ 250 .000 s 250,000 115%
Olmbmo2.65 68002LCN6 4/29/2022 54 Mos 10/29/2026 $ 250,000 s 250 ,000 265%
Pathfinder Bank 70320KBR1 1/29/2022 60 Mos 1/29/2027 $ 250,000 s 250,000 120%
Bpop 2.45 73317AAY8 4/14/2022 36 Mos 4/14/2025 $ 250.000 $ 250,000 245%
Preferred Bank LA 740367MA2 7/17/2020 60 Mos 7/17/2025 $ 250,000 $ 250 ,000 050%
Raymond James Bank 75472RAN1 11/26/2019 72 Mos 11/26/2024 $ 250 ,000 s 250,000 185%
Saco&Biddefords Savs 78577THR9 7/21/2022 60Mos 7/21/2027 $ 250,000 s 250.000 345%
Sallie Mae Bank/Salt Lake 7954504P7 11/16/2019 60 Mos 10/16/2024 $ 250.000 s 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 s 250,000 205%
Ste~ing Bank POP BL MO 85916VDN2 9118/2019 48 Mos 9/18/2023 $ 250,000 s 250,000 165%
BKCROW 88241T JJO 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 $ 250,000 250,000 060%
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%
Trustone Frnl Cr Un 89841MAF4 7119/2022 60Mos 7/19/2027 $ 250,000 250,000 340%
USB Bank USA 90348JN30 6/24/2021 36 Mos 6/24/2024 $ 250 ,000 s 250.000 035%
United Bankers Bank 909557JP6 12/16/2021 56 Mos 8117/2026 $ 250 .000 $ 250,000 1 00 %
Vision Bank of Iowa 92834CCL4 11/29/2019 72 Mos 11/29/2024 250.000 s 250,000 1 75%
Wells Fargo Nat'! Bank
West 949495AQ8 1/17/2020 36 Mos 1117/2023 $ 250.000 $ 250 ,000 190%
Treasury-Bank of New Yorl<(Vining Sparl<s) United States Treas 912828S35 9/12/2019 45Mos 6/30/2023 $ 1 000,000 $ 1,000,000 1 38 %
United States Treas 912828XZ8 6/30/2020 60Mos 6/30/2025 s 1.000,000 s 1,000 ,000 2.75 %
United States Treas 91282CBC4 1112/2021 60 Mos 12/3112025 $ 2 .000.000 s 2.000.000 038%
Fed Farm Credit Bank 3133ELF41 6/8/2022 60 Mos 6/8/2027 $ 1.000 ,000 $ 1,000.000 a 94 %
Fed Farm Credit Bank 3133EMZ21 8/6/2021 54 Mos 4/6/2026 $ 1,000 000 1.000,000 069%
Fed Farm Credit Bank 3133 ENYX2 6/17/2022 24 Mos 6/17/2024 s 500,000 $ 500.000 325%
Total Investments $ 88 ,008,317
Summary: Weighted Retum 1.23%
Local Ag ency Investment Fund (LAIF-CITY) 59.438 .591.48
Certificate of Deposit -Malaga Bank 250.00000
Certificate of Deposit -Malaga Bank 4 .069. 725 .04
Certificate of Deposit -Stifel 17 ,7 50 ,000 00
Treasury Bills -Vining Sparl<s 6 ,500,000.00
Total Investments 88 ,008,316.52
A-5
Malaga Bank -CD
4%
NOTE:
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
J ULY 2022
SUMMARY OF CASH BALANCE BY INSTITUTION
JULY 2022
Stifel -Treasury
7%
Bank of the West
6%
State of California -lAIF
63%
Stifel -Money Market
/ 1%
(1) LAIF mar1<et values will be reported to vary from book value W the City calculated share of total LAIF assets is less than lhe City book value .
To Ille best af my knoWledge, lhere are no misstatements of material amounts wilhin this report;
or omissiOns of material amounts to cause Ille report to be misleading.
I cer1ify that lhis report accurately reflects all City investments and complies wilh lhe investment policy of the City
of Rancho Palos Verdes as approved by the City Council. Furtllem10<9, 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