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RANCHO PALOS VERDES CITY COUNCIL <br />AGENDA REPORT <br />AGENDA DESCRIPTION: <br />MEETING DATE: 10/03/2017 <br />AGENDA HEADING: Consent Calendar <br />Consideration and possible action regarding the August 2017 Cash Balances/Monthly <br />Treasurer's Report <br />RECOMMENDED COUNCIL ACTION: <br />(1) Receive and file the August 2017 Cash Balances/Monthly Treasurer's Report. <br />FISCAL IMPACT: None <br />Amount Budgeted: N/A <br />Additional Appropriation: N/A <br />Account Number(s): N/A <br />ORIGINATED BY: Jane Lin, Accountant 7(— <br />REVIEWED BY: Deborah Cullen, Director of Finance <br />APPROVED BY: Doug Willmore, City Manager'/ -",,.,11-117 <br />ATTACHED SUPPORTING DOCUMENTS: <br />A. Monthly Treasurer's Report (page A-1) <br />BACKGROUND AND DISCUSSION: <br />This report summarizes the cash balance of all funds and investments for the month of <br />August 2017. A separate report is prepared monthly for the Improvement Authority, and <br />is presented under separate cover before the Authority Commission. <br />The overall cash balances of the City totaled $66,390,075, with more than $36 million or <br />54% of the balance in the Local Agency Investment Fund (LAIF). The City has more <br />than $2.8 million or 4% of the total cash balance with Bank of the West, and over $3.8 <br />million or 6% with Malaga Bank. In addition, the City has a total Certificates of Deposit <br />(CD) investments of $23.4 million or 35% of the total cash balance. The securities are <br />held by the Bank of New York and are FDIC insured. <br />In summary, the City's General Fund has over $14 million or 21 % in cash balance, and <br />the Capital Improvement Projects (CIP) Fund has over $28 million or 43% in cash <br />balance. The remaining cash balances are in the Equipment Replacement Fund with <br />over $2.4 million or 4%, over $2 million or 3% in the 1911 Act Fund, over $1.1 million or <br />2% in the Habitat Restoration Fund, over $2.3 million or 4% in the Quimby Fund, over <br />1 <br />