CC SR 20221101 E - September Treasury Report
CITY COUNCIL MEETING DATE: 11/01/2022
AGENDA REPORT AGENDA HEADING: Consent Calendar
AGENDA TITLE:
Consideration and possible action to receive the September 2022 Cash
Balances/Monthly Treasurer’s Report.
RECOMMENDED COUNCIL ACTION:
(1) Receive and file the September 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
September 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 $92 million, with approximately $57
million or 62% 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 $20 million or 21%, Treasury Bills and Agency Bonds at $6.5
million or 7% of the total cash balance, and a money market account of over $42,000 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.
In summary, the City’s General Fund has over $25 million or 28% in the cash balance,
and the Capital Infrastructure Program (CIP) Fund has approximately $40 million or 43%
1
RANCHO PALOS VERDES
7L
{Vl
in cash balance. The remaining cash balances are in the Equipment Replacement Fund
with approximately $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 over $20 million or 23% in Other Restricted Funds.
The City’s cash balance increased by approximately $20.2 million compared to the
September 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 $2.4 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, August 2022, the City’s cash balance
decreased by approximately $1.6 million, mainly attributed to the timing of disbursements
for City-approved projects. The major disbursements for this month included Aleshire &
Wynder for legal services, Azteca System for City’s software annual license fees,
Bucknam Infrastructure for the pavement management program, EDCO Disposal for
citywide street sweeping services, Hout Construction for Palos Verdes Drive South
landslide project, Los Angeles County Sheriff’s Department for law enforcement services,
Palos Verdes Peninsula Transit Authority for the City’s semi-annual contribution, and
Vigilant Solution for solar ALPR trailer services. All expenditures were disbursed in
accordance with the Fiscal Year 2022-2023 budget.
2
BEGINN ING BALANCE
PLUS : DEPOSITS
Pl.US INTEREST EARNINGS(1)
LESS CHECK DISB URSEME NTS
LESS: ELECTRONIC DIS BURSE ME NTS (2)
ADJUS TMENTS(3 )
PLUS:TRANSF ERSIN
LESS: TRANSFERS OUT
ENDING BA LANC E
(1) All I.Alf interest is paid quarte<fy .
(2 ) Electronic Disbursements:
Payroll
Payroll Charges
Bank and Merchant Fees
Ladera Linda $BM Loan Interest
(3) The net adjustment was interfund adjustment.
Bank of the West
op,uattng
4 ,363,485.16
2 ,567,957.73
(3,054,650.27)
(894,703.33)
(3 ,750.00)
2,500,000.00
(970,000.00)
4 ,508,339.29
562,447.05
244,224.64
11,911 .64
76,120.00
694,703 .33
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2022
Malaga Bank
Non-Hegotiabll Stifel
~C..h I.AF.art CD Monay Mllrbl
5 ,000.00 59,438,591 .48 4 ,319,725.04 39,638.47
2,799.29
(2,500,000.00)
5 ,000.00 56,938,591 .48 4,31 9 ,725.04 42,437 .76
SEPTEMBER 2022 CASH BALANCE BY MAJOR FUNDS
0%1 %
fflel
ln-nt T-IC..h
25,500,000.00 93,666,440.15
2 ,567,957.73
(3,054,650.27)
(894,703.33)
750,000.00 749,049.29
2 ,500,000.00
(3,470,000.00)
26,250,000.00 92,064,093.57
■GENERAL FUND 28%
■C I P43%
■EQUIPMEN T REPLACEMENT 3%
■1911 ACT2%
CHABITAT RESTORATION 0%
■OUIMBY 1%
■OTHER RESTRICTED FUNDS 23%
A-1
CASH BALANCES BY FUND
Unrestricted
GEN£RAL FUND
Restricted bv Council Action
BEAUTIFICATION FUND
CIP
EQUIPMENT REPLACEMENT
BUILDING REPLACEMENT
EMPLOYEE PENSION PLAN
EMPLOYEE BENEFITS
Subtotal
Restricted bv Law or External Aoencies
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
~
GRANDTOTAL
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2022
BALANCE
FORWARD DEBIT CREDIT
284192711.14 7MU98.10 10-385 272.31
0 .00 0 .00 0.00
38,480,195.56 1,530,975.00 126,962.32
2 ,892 ,551 .52 73,050 .00 7 ,164.90
0.00 0 .00 0.00
645,442 .07 100,000.00 0 .00
0 .00 0 .00 0 .00
42 011119.15 1 704.025.00 134127.22
1,240,693.80 179 ,082 .26 94,611 .92
29,515.80 0.00 0 .00
43 ,305.93 0 .00 0 .00
22,779.56 3,550.00 0.00
0 .00 0 .00 0.00
1,937,582.33 0 .00 45,634.24
382,265.04 33,010.00 4,764.98
140,241 .85 13 ,662 .73 22,114.42
786 ,562 .81 76 ,681 .14 27,389.82
2,034,498.19 92,445 .54 387 ,285.00
107,235 .72 0 .00 62 ,500 .00
1,981,914 .66 57 ,510 .25 14 ,818.01
589 ,232 .62 65,242 .97 9,533 .52
368,063.39 0 .00 0 .00
735,472 .70 12 ,500 .00 1,611 .59
149,577 .03 21 ,030 .69 12 ,500 .00
153,327.60 0 .00 37 ,560.18
0.00 0 .00 0.00
0.00 0 .00 0 .00
820,412.25 12,300.00 4,563 .59
0 .00 0 .00 0.00
0.00 9,115.00 9,115.00
7,684,154 .05 0 .00 5,044.34
658,858.48 0 .00 33 ,949.29
318,460.03 0 .00 0.00
867 ,415.36 0 .00 0.00
118,581 .08 0 .00 9 ,477 .60
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
717,557 .79 0 .00 18 ,237 .84
0.00 0 .00 0 .00
299,330 .21 0.00 336.00
0.00 0 .00 0.00
963,814.29 45 ,659 .75 196,113.07
23,178 971.16 621 790.33 997,1 60.41
93,116,,W0.15 9,894,213.43 11,418,II0.01
Total Investment:
Change In Change In
Ending Cash Ending Cash
CASH Balance Balance in%
25 872 -405.58 (2,798.174.28 -10%
0 .00 0 .00 0%
39,884,208 .24 1,404 ,012 .68 4%
2,9 58,436 .62 65 ,885 .10 2%
0 .00 0 .00 0%
745 ,442 .07 100,000.00 15%
0 ,00 0 .00 0%
435"0IU3 1,MU97.71 4%
1,325,164 .14 84 ,470 .34 7%
29 ,515.80 0 .00 0%
43 ,305 .93 0 .00 0%
26,329.56 3 ,550 .00 16%
0 .00 0 .00 0%
1,891,948 .09 (45 ,634.24) -2%
410,510.06 28 ,245.02 7%
131 ,790 .16 (8,451 .69 -6%
835,854 .13 49,291 .32 6%
1,739,658 .73 (294 ,839 .46 -1 4%
44 ,735.72 (62,500 .00 -58%
2 ,024,606 .90 42 ,692 .24 2%
644 ,942 .07 55 ,709.45 9%
368 ,063.39 0 .00 0%
746,361 .11 10 ,888 .41 1%
158,107 .72 8,530 .69 6%
115,767.42 (37 ,560 .18) -24%
0 .00 0 .00 0%
0 .00 0 .00 0%
828,148 .66 7 ,736.41 1%
0 .00 0.00 0%
0 .00 0 .00 0%
7,679,109 .71 (5 ,044.34 0%
624,909 .19 (33,949 .29' -5%
318,460 .03 0 .00 0%
867 ,415 .36 0 .00 0%
109 ,103.48 (9 ,477.60: -8%
0 .00 0 .00 0%
28 ,118 .59 0.00 0%
0 .00 0 .00 0%
0 .00 0 .00 0%
699,319 .95 (18,237.84) -3%
0 .00 0 .00 0%
298,994 .21 (336.oo: 0%
0.00 0 .00 0%
813,360.97 (150,453 .32 -16%
22 803 601.06 (375 370.06) -2%
92,064,093.57 (1,602,346.58) -2%
92,064,093.57
A-2
CITY OF RANCHO PALOS VERDES
MONTHLY INVESTMENT REPORT
SEPTEMBER 2022
Issuer of Acquisition Maturity Market Book
Investment Investment CUSIP• Date Tenn Date Value Va lue YN!ld
Local Agency Investment Fund (LAIF-CITY) State of California N/A N/A On Demand $ 56,938,591 56,938,591 151%
Note (1)
CD -Non-Negotiable Malaga Bank 2/23/2022 6 Mos 2/18/2023 $ 250 ,000 $ 250,000 125%
CD -Non-Negotiable Malaga Bank 2/23/2022 6 Mos 2/18/2023 4 ,069.725 4 .069,725 1 25%
CD -Bank of America -Stifel (Non-Negotiable) A+ Fed Credit Union Austin 00224TAB2 6/29/2022 60Mos 6/29/2027 s 250.000 s 250,000 355%
Allegiance Bank Texas 01748DAY2 11/3/2017 60Mos 11/3/2022 $ 250,000 s 250,000 2 20%
American Expr Natl Bank 02589ABM3 3/3/2022 36 Mos 3/3/2025 s 250,000 250,000 1 80%
AUBSTB 05059LAC6 3/31/2022 48 Mos 3/31/2026 250,000 250,000 210%
Austin Telco Fed Cr Unron 052392BN6 9/20/2022 24 Mos 9/20/2024 $ 250,000 $ 250.000 3 70%
AXOS Bank 05465DAK4 3/26/2020 48 Mos 3/26/2024 $ 250,000 s 250.000 1.65%1
BMW Bank of Northern
America 05580AB45 7/23/2021 36 Mos 7/23/2024 $ 250.000 s 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 s 250,000 1.65%
Bank Forward 062163BN9 12/28/2019 60 Mos 12/18/2024 250,000 $ 250 ,000 1.75%
HAPOAL O 1/2 06251A2Q2 12/14/2020 60 Mos 12/25/2025 $ 250 ,000 s 250 ,000 0 .50%
Bankbk 2.05 06610RBL2 4/14/2022 42 Mos 10/14/2025 $ 250,000 s 250,000 205%
Bank Newport Rhode 06647JAV6 8/3/2022 48 Mos 8/3/2026 $ 250,000 s 250,000 350%
Bankunited 066519QK8 3/5/2021 60Mos 3/5/2026 $ 250.000 $ 250 ,000 0.65%
Baxter Credit Union 07181JABO 6/23/2022 36Mos 6/23/2025 s 250,000 s 250 ,000 3 10°/o
Baycoast Bank 072727AZ-3 1/24/2020 60Mos 1/24/2025 $ 250.000 $ 250,000 1 70%
Beal Bank USA 07371CK32 3/4/2022 48 Mos 3/4/2026 $ 250,000 $ 250,000 1 90%
Capital On 1.100 14042RQBO 11/30/2021 60 Mos 11/17/2026 $ 250,000 s 250,000 110%
Capital On 2 800 14042RQS3 4/20/2022 60 Mos 4/20/2027 $ 250,000 250,000 280%
Capital One National 14042RSK8 6/29/2022 48 Mos 6/1/2026 $ 250,000 250,000 3.40%
Celtic Bank 15118RUX3 4/17/2020 60 Mos 4/17/2025 $ 250 000 $ 250.000 150%
Chief Finl Fed Cr Un
Rochester 16863LAB1 7/29/2022 60 Mos 7/29/2027 $ 250,000 s 250.000 350%
Comenrty 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%
Connexus Credit Union 20825WAT7 5/27/2022 36 Mos 5127/2025 $ 250.000 250,000 3 00 %
Credit Un of Tex Allen 22551KAB8 7/22/2022 36 Mos 7/22/2025 $ 250,000 $ 250,000 330%
Dart Bk Mason 237412ASO 6/22/2022 42 Mos 12/22/2025 $ 250.000 s 250,000 310%
Discover Bank 254673B70 4/28/2022 36 Mos 4/28/2025 $ 250,000 $ 250,000 280%
Eagle bank 27002YET9 1/17/2020 36 Mos 1/17/2023 $ 250,000 s 250,000 170%
Eaglemarl< Savings Bank 27004PCM3 3/2/2022 60 Mos 3/2/2027 $ 250 ,000 250 ,000 2.00%
FMBKWI 12 307811DP1 1/14/2022 60 Mos 1/14/2027 $ 250.000 250,000 1.20%
FNWB 32022EAW6 12/29/2021 60 Mos 12/29/2026 $ 250.000 $ 250,000 1 05%
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 $ 250,000 125%
Four Pts FCU Omaha 35089LAD5 6/29/2022 60 Mos 6/29/2027 250,000 $ 250.000 3.40%
Generations Bank 37149CAX5 5/12/2022 60 Mos 5/12/2027 $ 250,000 $ 250 ,000 3.10%
GHS Fed Credit Union 36266LAA4 9/15/2022 60 Mos 9/15/2027 $ 250,000 $ 250 ,000 380%
lntercredit Bank NA 458657MC4 1/20/2022 60 Mos 1/29/2027 $ 250,000 s 250 ,000 1 35%
JP Morgan Chase Bank 48128UMX4 9/30/2020 60 Mos 9/30/2025 $ 250,000 250 ,000 0.30 %
Kemba Finl Credit Union 48836LAN2 9/21/2022 60 Mos 9/21/2027 250 ,000 250 ,000 4.10%
LCA Bank Corp 501798LK6 1/12/2018 60 Mos 1/12/2023 250,000 $ 250,000 2.35 %
Lebanon FCU PA 52248LAB2 8/4/2022 60 Mos 8/4/2027 $ 250 ,000 $ 250,000 3.55%
Live Oak Bankinig 538036UG7 2/1/2022 48 Mos 2/2/2026 $ 250.000 s 250,000 1 25%
MAGBNC 559582AL5 10/30/2020 54 Mos 4/30/2025 s 250,000 s 250.000 0.40%
Malaga Bank FSB 56102AAJ5 5/29/2020 60Mos 5/29/2025 $ 250,000 s 250 ,000 0 70%
A-3
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2022
Issuer of Acquisition Maturity Marte.et Book
Inve stment Investment CUSIP# Date Term Date Value Value Yiekf
Mar1in Business Bank 57116ATMO 1/1512020 60 Mos 1/15/2025 250,000 $ 250,000 1 75%
Merrick Bank 59013JC23 10/11/2017 60 Mos 10/1112022 $ 250,000 $ 250,000 210%
Mid-Missouri Bank 59541KBP1 1/19/2018 60 Mos 1/19/2023 $ 250,000 $ 250,000 235%
Morgan Stanley Bk 61690UK82 6/2/2022 36 Mos 6/2/2025 $ 250,000 250 ,000 3.05%
Morgan Stanley PVT Bank 61760AZ51 9/19/2019 48 Mos 9/19/2023 250.000 250.000 185%
Mountain Amer Fed CR UN 62384RALO 8/29/2022 36 Mos 8129/2025 $ 250 ,000 s 250 ,000 350%
NCW1115 633368FJ9 1/1912022 60Mos 1/19/2027 s 250,000 s 250,000 1.15%
New Yol1<. Community Bank 649447UP2 6/3/2021 36 Mos 6/3/2024 $ 250,000 $ 250 ,000 035%
Northfiled Bank 66612ABX5 10/2512017 60 Mos 10/25/2022 $ 250,000 $ 250,000 2.15%
Olddnb 1.5 679585AZ2 1/20/2022 60 Mos 112012027 250,000 $ 250.000 115%
Olmbmo 2.65 68002LCN6 4/2912022 54 Mos 10/2912026 $ 250.000 $ 250,000 265%
Onpalh Fed Cr Union 68283MAG1 9/1512022 60Mos 9/1512027 $ 250.000 $ 250,000 3.80%
Pathfinder Bank 70320KBR1 1/29/2022 60 Mos 1/2912027 250,000 250 ,000 1 20%
Pittsburgh City Hall
Employees 72500MAA3 8/1612022 60Mos 8/1612027 $ 250,000 $ 250,000 3.60%
Bpop 2.45 73317AAY8 4/1412022 36 Mos 4/14/2025 $ 250,000 $ 250,000 245%
Preferred Bank LA 740367MA2 7/1712020 60 Mos 711712025 $ 250,000 $ 250,000 0.50%
Raymond James Bank 75472RAN1 11/26/2019 72 Mos 11/26/2024 $ 250 ,000 $ 250 ,000 1 85 %
Saco&Biddefords Savs 78577THR9 7/2112022 60 Mos 7121/2027 $ 250 ,000 $ 250,000 345%
Sallie Mae Bank/Salt Lake 7954504P7 1111612019 60 Mos 10/16/2024 $ 250,000 $ 250,000 190%
Sharonv1ew Fed Cr Union 819866BM5 8115/2022 36Mos 811512025 $ 250,000 $ 250 ,000 3.40%
Signature Bk Chicago 82669VBY6 11/8/2017 60 Mos 11/812022 $ 250,000 s 250,000 215%
Southwest Finl Fed Cr Un 84485EAJ6 912112022 60 Mos 9/2112027 $ 250,000 $ 250,000 380%
State Bank of India 856285RS2 11/2712019 72 Mos 11/2712024 $ 250,000 $ 250,000 205%
Sterling Bank POP BL MO 85916VDN2 9118/2019 48 Mos 9/18/2023 $ 250,000 s 250,000 165%
BKCROW 88241TJJO 10/2312020 60 Mos 10/23/2025 $ 250,000 $ 250 ,000 0.60%
Texas Exchange Bank 88241TJN1 1112512020 60 Mos 11/25/2025 $ 250,000 $ 250,000 060%
Texas Exchange Bank 88241TJR2 12/1812020 60 Mos 12/18/2025 s 250,000 s 250,000 0 .60%
Texas Excange BK SSB 88241TNV8 8/1612022 51 Mos 11/1612026 $ 250,000 250,000 360%
Toyota Financial Svgs Bank 89235MLE9 7/29/2021 60Mos 7/29/2026 s 250.000 $ 250,000 095%
Trustone Finl Cr Un 89841MAF4 7/1912022 60 Mos 711912027 $ 250,000 $ 250 ,000 340%
USB Bank USA 90348JN30 6/2412021 36 Mos 6/2412024 $ 250 ,000 250,000 035%
United Bankers Bank 909557JP6 12/16/2021 56 Mos 8/17/2026 $ 250,000 $ 250,000 1 00%
Vision Bank of lowa 92834CCL4 11/29/2019 72 Mos 11129/2024 $ 250 ,000 $ 250,000 175%
Wells Fargo Nat'I Bank
West 949495AQ8 1/1712020 36Mos 1/17/2023 $ 250.000 $ 250 ,000 190%
Treasury-Bank of New York(Vining Sparks) United States Treas 912828535 9/1212019 45 Mos 6/30/2023 s 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 States Treas 91282CBC4 1112/2021 60 Mos 12/31/2025 $ 2.000,000 $ 2 000,000 0.38 %
Fed Farm Credit Bank 3133ELF41 6/812022 60 Mos 6/812027 $ 1,000,000 $ 1,000 ,000 0 94%
Fed Farm Credit Bank 3133EMZ21 81612021 54 Mos 416/2026 s 1,000,000 s 1,000,000 069%
Fed Farm Credit Bank 3133ENYX2 6/1712022 24 Mos 6/17/2024 $ 500,000 500,000 3.25%
Total Investments S 87,508,317
Summary : Weighted Return 1.63'1,
Loca l Agency Investment Fund (LAIF-CITY) 56 ,938,591.48
Certificate of Deposit • Malaga Bank 250,000.00
Certificate of Deposit -Malaga Bank 4 ,069,725 04
Certlficale of Deposit -Stffel 19,750,000 .00
Treasury Bills -Stffel 6 ,500 ,000.00
Total Investments 87,508,316.52
A-4
Malaga Bank• CO
S%
NOTE:
CITY OF RANCHO PALOS VERDES
MONTHLY TREASURER'S REPORT
SEPTEMBER 2022
SUMMARY OF CASH BALANCE BY INSTITUTION
SEPTEMBER 2022
Stifel• Treasury
7%
Bank of the West
5%
State of California• lAIF
62%
Stifel • Money Market
0%
(1) LAIF market 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 at 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 acrurately reflects all City investments and complies with the investment policy of the City
at Rancho Palos Verdes as approved by the City Council. Furthelmore, I certify that sufficient investment liquidity
and anticipated revenues are available to meet the City's expenditure requirements for the nex1 six months.
Respectfully submitted,
A-5