CC SR 20221004 E - August 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 August 2022 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the August 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
August 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 $93 million, with over $59 million or
63% of the total cash balance in the Local Agency Investment Fund (LAIF). The City has
over $4 million or 5% 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
approximately $19 million or 20%, Treasury Bills and Agency Bonds at $6.5 million or 7%
of the total cash balance, and a money market account of over $39,000 or less than 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
In summary, the City’s General Fund has over $28 million or 30% 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
$3 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 $0.6 million or 1% in the Quimby
Fund, and approximately $21 million or 23% in Other Restricted Funds.
The City’s cash balance increased by approximately $22.1 million compared to the
August 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 $4.3 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, July 2022, the City’s cash balance
decreased by approximately $1.2 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, the City of Rolling Hills Estates for the Silver Spur Road rehabilitation project,
Griffin Structures for construction management for the Ladera Linda Community Park
Project, Impex Technologies for annual software license fees, the Los Angeles County
Sheriff’s Department for law enforcement services, and Stay Green for landscape
maintenance. All expenditures were disbursed in accordance with the Fiscal Year 2022-
2023 budget.
2
BEGINNING BALANCE
PLUS: DEPOSITS
PLUS: INTEREST EARNINGS(1)
LESS: CHECK DI SBUR SEMENTS
LESS: ELECTRONIC DISBURSEMENTS(2)
ADJUSTMENTS(3)
PLUS:TRANSFERSIN
LESS: TRANSFERS OUT
ENDING BA LANC E
(1) All LAIF interest is pai d quarterty.
(2) Electronic Disbursements:
Payroll
Payroll Charges
GASB68
Bank and Merchant Fee s
(3) The net adjustment was due to a void check.
Bank of the West
Opol'llllng
6,045,050.96
3,199,409.97
(3,727,945.18)
(679,030.59)
6,000.00
(480,000 .00)
4,363,485.16
395,980.13
267,004.61
1,050.00
14,995.85
679,030.59
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 2022
PenyCuh UIF..QTY
5,000.00 59,438,591 .48
5,000.00 59,438,591.48
lhLlga Bank
Non-Negotiable
CD
4,319,725.04
4,319,725.04
Stife l Stil'al
Money Market lnMstnwnt
788,438.01 24 ,250,000.00
21,200.46
(1 ,250,000 .00) 1.250,000.00
480,000.00
39,638.47 25,500,000.00
T°"'IC.sh
94,846,805.49
3,199,409.97
21,200.46
(3, 727.945.18)
(679,030.59)
6,000.00
480,000.00
(480,000.00)
93,666,440.15
AUGUST 2022 CASH BALANCE BY MAJOR FUNDS
0%1 %
■GENERAL FUND 30%
■CIP41%
■E QU I PM E NT REPLACEMENT 3%
■1911 ACT2%
DHABITAT RESTORATIO N 0%
■QUIMBY 1%
■OTHER RESTRICTED FUNDS 23%
A-1
CASH BALANCES BY FUND
Unrestricted
GENERAL FUND
Restricted bv 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
MEASUREM
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
SlmColal
GRANO TOTAL
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 2022
BALANCE
FORWARD DEBIT CREDIT
27 738 896 .92 8 452111.80 11,148 538 .118
0 .00 0.00 0.00
38,923,572 .98 6,000.00 449,377 .42
2,892,551 .52 0.00 0 .00
0.00 0.00 0.00
645,442 .07 0.00 0.00
0.00 0.00 0.00
42AA1,586 .57 8,000 .00 449 3TT.42
1,523,099 .50 168 ,641.25 45 1,046.95
29 ,515 .80 0 .00 0.00
43,188.76 117.17 0 .00
17,553.56 8 ,951 .00 3,725 .00
0 .00 0.00 0 .00
1,928,820.32 30,187.55 21 ,425 .54
391,341 .58 7,448 .74 16,525.28
140,241 .85 0.00 0.00
808 ,651.71 64 ,826.66 86,915 .56
1,956,344 .33 78 ,153.86 0 .00
107,235.72 0.00 0 .00
1,946,296 .06 48,597.00 12,978.40
622,778.20 54,919.82 88 ,465 .40
368,063.39 0.00 0.00
744,519 .74 0.00 9,047.04
105,120.03 44 ,457.00 0.00
155,329 .47 2,052 .87 4 ,054 .74
0 .00 0.00 0 .00
0.00 0.00 0 .00
817 ,312 .25 3,100.00 0.00
0 .00 0.00 0 .00
0 .00 28,620.00 28,620 .00
8 ,772,048.45 0.00 1,087 ,894 .40
706,200 .31 0.00 47 ,341.83
287,580.03 0.00 0 .00
867,415.36 0.00 0.00
114,679.08 3,902 .00 0 .00
0 .00 0.00 0.00
28,118 .59 0.00 0.00
0.00 0.00 0.00
0 .00 0 .00 0 .00
730,511 .43 237.51 9,700 .74
0 .00 0.00 0 .00
453,729.70 0.00 0.00
0 .00 0.00 0 .00
982,846.78 23 ,921 .75 42 ,954.24
24,648,542.00 568 134.18 1,910,695 .12
94,846,805.49 7,026,245.78 8,206 ,611 .12
Total Investment:
Chanqe In Chanqe In
Endina Cash Endina Cash
CASH Balance Balance in%
za 342,289.14 805 573 .02 2%
0.00 0 .00 0%
38 ,480 ,195.56 (443 ,377.42 -1%
2,892,551 .52 0 .00 0%
0.00 0 .00 0%
645 ,442 .07 0 .00 0%
0.00 0 .00 0%
42,018 189.15 1443 3TT.42 -1%
1,240,693.80 (282,405.70 -19%
29,515.80 0 .00 0%
43 ,305.93 117 .17 0%
22,779.56 5,226 .00 30%
0.00 0 .00 0%
1,937,582.33 8,762 .01 0%
382,265.04 (9,07654 -2%
140,241 .85 0.00 0%
786,562 .81 (22,088.90) -3%
2,034,498 .19 78 ,153 .86 4%
107,235.72 0 .00 0%
1,981 ,914.66 35,618.60 2%
589,232.62 (33,545.58 -5%
368 ,063.39 0 .00 0%
735 ,472 .70 19,047 .04) -1%
149,577.03 44,457 .00 0%
153,327.60 (2 ,001.87) -1%
0 .00 0.00 0%
0.00 0 .00 0%
820,412.25 3,100 .00 0%
0.00 0.00 0%
0.00 0 .00 0%
7,684,154 .05 (1 ,087,894 .40 -12%
658,858 .48 (47,341 .83 -7%
287,580.03 0 .00 0%
867,415.36 0.00 0%
118,581 .08 3,902.00 3%
0.00 0 .00 0%
28 .118.59 0 .00 0%
0.00 0 .00 0%
0.00 0.00 0%
721,048.20 (9,463.23 -1%
0.00 0 .00 0%
453 ,729 .70 0 .00 0%
0.00 0 .00 0%
963 ,814.29 (19,032 .49) -2%
23,305,981.06 (1 342 560.94} -5%
93 ,666,440.15 (1,180,365.34) -1%
93,666,440.15
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
AUGUST 2022
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP# Date Tenn Date Value Value Yield
Local Agency Investment Fund (LAIF-C ITY) State of Ca l~om ,a N/A NIA On Demand $ 59,438,591 59 ,438,591 1.28%
Note (1)
CD -Non-Negotiable Malaga Bank 2/23/2022 6 Mos 2/18/2023 $ 250,000 250,000 1.25%
CD -Non-Negotiable Malaga Bank 2/23/2022 6 Mos 2/18/2023 $ 4 .069.725 s 4 ,069 ,725 1 25%1
CD -Bank of America -Stifel (Non-Negollable) A+ Fed Credit Union Austin 00224TAB2 6/29/2022 60 Mos 6/29/2027 $ 250.000 s 250,000 355%
Allegiance Bank Texas 01 748OAY2 1113/20 17 60 Mos 11/3/2022 250 ,000 $ 250,000 2 20 %
American Bank Na Le Mars 024373AZ5 9/27/2019 36 Mos 9/27/2022 $ 250 000 s 250 ,000 1.65%
American Expr Natl Bank 02589ABM3 3/3/2022 36Mos 3/3/2025 $ 250 ,000 $ 250,000 1.80%
AUBSTB 05059LAC6 3/31/2022 48 Mos 3/31/2026 $ 250,000 s 250.000 2.10%
AXOS Bank 05465DAK4 3/26/2020 48 Mos 3/26/2024 $ 250 ,000 $ 250,000 165%
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 3/2412023 s 250,000 $ 250 ,000 165%
Bank Forward 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 4/1412022 42 Mos 10/1412025 s 250,000 250,000 2 05%
Bank Newport Rhode 06647JAV6 8/312022 48 Mos 8/3/2026 $ 250.000 $ 250,000 350%
Bank united 066519QK8 3/5/2021 60 Mos 3/5/2026 $ 250.000 $ 250 ,000 065%
Baxter Credit Union 07181JAB0 6123/2022 36 Mos 612312025 $ 250.000 s 250 ,000 3.10%
Baycoast Bank 072727AZ3 1/24/2020 60 Mos 1/24/2025 $ 250,000 s 250,000 170%
Beal Bank USA 07371CK32 3/4/2022 48 Mos 3/4/2026 250.000 $ 250 ,000 190%
Capital On 1 100 14042RQB0 11/30/2021 60 Mos 11/17/2026 s 250.000 $ 250 ,000 11 0%
Caprtal On 2 800 14042RQS3 4/20/2022 60 Mos 4/20/2027 $ 250 ,000 $ 250,000 280%
Capital One Nallonal 14042RSK8 6/29/2022 48 Mos 6/1/2026 $ 250,000 s 250 ,000 3.40 %
Celtic Bank 15118RUX3 4/1 7/2020 60 Mos 4/17/2025 $ 250,000 s 250,000 1 50 %
Chief Finl Fed Cr Un
Rochester 16863LAB1 7129/2022 60 Mos 7/29/2027 $ 250,000 s 250 ,000 350%
Comenity C 2 650 20033A3A2 4114/2022 60 Mos 4114/2027 s 250 ,000 $ 250.000 2.65%
Connectone Bank 20786ADL6 9/24/2021 60 Mos 9/27/2026 s 250.000 s 250,000 080%
Connexus Credit Union 20825WAT7 5/2712022 36 Mos 5/27/2025 $ 250.000 250,000 3.00%
Credit Un of Tex Allen 22551KAB8 7122/2022 36 Mos 7/22/2025 $ 250,000 s 250,000 330%
Dart Bk Mason 237412ASO 6/2212022 42 Mos 12/22/2025 s 250.000 250,000 3 .10% 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 s 250,000 170% Eagleman< Savings Bank 27004PCM3 3/212022 60Mos 3/2/2027 $ 250,000 $ 250,000 2 00% FMBKWI 1.2 307811DP1 1/1412022 60 Mos 1/14/2027 $ 250,000 $ 250.000 120% FNWB 32022EAW6 12/29/2021 60 Mos 12/29/2026 $ 250,000 s 250.000 105% First Nat'I Bank 32110YXG5 6/27/2022 60 Mos 6124/2027 s 250 ,000 s 250 .000 325% First Natl Bank/DAMA 32117BEQ7 12/30/2021 60 Mos 12/30/2026 $ 250,000 $ 250,000 125% Four Pts FCU Omaha 35089LAD5 6/29/2022 60 Mos 6/29/2027 $ 250,000 $ 250 ,000 340% Generations Bank 37149CAX5 5112/2022 60 Mos 5112/2027 s 250,000 s 250,000 310% lntercredit Bank NA 458657MC4 1/2012022 60 Mos 112912027 $ 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 % L CA Bank Corp 501798LK6 1/1212018 60 Mos 1/12/2023 s 250,000 250,000 2 .35% Lebanon FCU PA 52248LAB2 81412022 60 Mos 8/412027 $ 250,000 $ 250,000 3 .55% Live Oak Bank1nig 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 s 250,000 040% Malaga Bank FSB 56102AAJ5 512912020 60 Mos 5/29/2025 $ 250.000 $ 250.000 0.70%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 2022
Issuer of Acquisrhon Ma1urity Marltet Book
Investment Investment CUSIP# Date Tern, D•te Value Va lue Yield
Marlin Business Bank 57116ATMO 1115/2020 60 Mos 1/15/2025 $ 250,000 s 250 ,000 175%
Medallion Bank Utah 58404DFE6 9118/2019 36 Mos 9/19/2022 s 250,000 250 ,000 1 70 %
Merrick Bank 59013JC23 1011112017 60 Mos 10/11/2022 $ 250,000 s 250,000 210%
Mid.Missouri Bank 59541KBP1 1119/2018 60 Mos 1/19/2023 $ 250,000 s 250,000 235%
Morgan Stanley Bk 61690UK82 6/2/2022 36 Mos 6/2/2025 $ 250,000 s 250 ,000 3.05%
Morgan Stanley PVT Bank 61760AZ51 9/19/2019 48 Mos 9/1912023 $ 250,000 s 250,000 185%
Mountain Amer Fed CR UN 62384RALO B/29/2022 36 Mos 8/29/2025 $ 250,000 s 250 ,000 350%
NCWI 115 633368FJ9 1119/2022 60 Mos 1/19/2027 $ 250,000 250 ,000 115%
New York Community Bank 649447UP2 6/3/2021 36 Mos 6/312024 s 250,000 s 250 ,000 035%
Nor1hfiled Bank 66612ABX5 10/25/2017 60 Mos 10/25/2022 $ 250,000 s 250,000 215%
Olddnb 1.5 679585AZ2 1/20/2022 60 Mos 1/20/2027 $ 250,000 s 250 ,000 1 15%
Olmbmo265 68002LCN6 4129/2022 54 Mos 10/29/2026 s 250.000 s 250 ,000 2 .65%
Pathfinder Bank 70320KBR1 112912022 60 Mos 1/29/2027 $ 250,000 250,000 1 20%
Pittsburgh City Hall
Employees 72500MAA3 8116/2022 60Mos 8/16/2027 s 250 ,000 $ 250 ,000 3 6Q G/o
Bpop 2.45 73317AAY8 4/1412022 36 Mos 4/14/2025 $ 250,000 250,000 245%
Preferred Bank LA 740367MA2 7/17/2020 60 Mos 7/17/2025 $ 250.000 s 250.000 0.50 %
Raymond James Bank 75472RAN1 11 /26/2019 72 Mos 11/26/2024 s 250,000 250,000 1 85 %
Saco&Biddefords Savs 78577THR9 7/21/2022 60 Mos 7/21/2027 $ 250,000 $ 250,000 3 45%
Sallie Mae Bank/Salt Lake 7954504P7 11/16/2019 60 Mos 10/16/2024 $ 250,000 250 ,000 1 90 %
Sharonv iew Fed Cr Union 819866BM5 8/15/2022 36 Mos 8/15/2025 s 250.000 s 250,000 340%
Signature Bk Chicago 82669VBY6 1118/2017 60 Mos 11/8/2022 $ 250,000 s 250 ,000 215%
State Bank of India 856285RS2 11/27/2019 72 Mos 11/27/2024 $ 250.000 s 250,000 2 05 %
Ster1ing Bank POP BL MO 85916VDN2 9/18/2019 48 Mos 9/18/2023 $ 250,000 s 250 ,000 1 65 %
BKCROW B8241TJJO 10/23/2020 60 Mos 10/23/2025 $ 250,000 $ 250,000 060%
Texas Exchange Bank 88241TJN1 11/25/2020 60 Mos 11/25/2025 $ 250.000 s 250 ,000 060%
Texas Exchange Bank 88241TJR2 12118/2020 60 Mos 12/18/2025 $ 250,000 $ 250.000 060%
Texas Excange BK SSB 88241TNV8 8/16/2022 51 Mos 11/16/2026 $ 250.000 250.000 360%
Toyota Financial Svgs Bank 89235MLE9 7/29/2021 60 Mos 7/29/2026 $ 250.000 s 250,000 095%
Trustone Finl Cr Un 89841MAF4 7119/2022 60 Mos 7/19/2027 $ 250 000 s 250,000 340%
USB Bank USA 90348JN30 6/24/2021 36 Mos 6/24/2024 $ 250.000 $ 250,000 035%
United Bankers Bank 909557JP6 12/16/2021 56 Mos 8/17/2026 $ 250 .000 s 250.000 1 00%
Vision Bank of Iowa 92834CCL4 11/29/2019 72 Mos 11/2912024 s 250.000 $ 250,000 1 75 %
Wells Fargo Nat'I Bank
West 949495AQ8 111712020 36 Mos 1/17/2023 $ 250 ,000 250.000 190%
Treasury-Bank of New York(Vining Sparks) United States Treas 912828S35 9/12/2019 45 Mos 6130/2023 $ 1,000.000 1 .000 ,000 1.38%
United States Treas 912828XZ8 613012020 60 Mos 6/30/2025 $ 1.000,000 $ 1 000,000 275%
United States Treas 91282CBC4 1112/2021 60 Mos 12131/2025 $ 2,000,000 $ 2 .000,000 038%
Fed Farm Credit Bank 3133ELF41 618/2022 60 Mos 6/8/2027 1 .000 .000 s 1 000.000 094%
Fed Farm Credit Bank 3133EMZ21 816/2021 54 Mos 416/2026 s 1.000,000 s 1.000,000 069%
Fed Farm Credit Bank 3133ENYX2 611712022 24 Mos 6117/2024 $ 500 ,000 $ 500,000 3.25%
Total Investments $ 89,258,317
Summary-
Local Agency Investment Fund (LAIF-CITY) 59.438 .591.48 Weighted Return 1.44%
Certificate of Deposit -Malaga Bank 250,000 00
Cer1ificate of Deposit -Malaga Bank 4 ,069,725 .04
Certificate of Deposit -Stifel 19,000,000.00
Treasury Bill s -Vin ing Sparks 6 ,500,000.00
Total Investments 89,258,316.52
A-4
Malaga Bank -CD
5%
NOTE :
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
AUGUST 2022
SUMMARY OF CASH BALANCE BY INSTITUTION
AUGUST 2022
Stifel -Treasury
7%
Bank of t he West
5%
State of California -LAI F
63%
Stifel -Money Market
0%
(1) LAIF mar1<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 matelial 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 C ity 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,
J~ P -rw,~Jl-ql ii.
A-5