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Home My WebLink About072120-05.4ADMINISTRATIVE STAFF REPORT 5.4 TO: Mayor and Town Council SUBJECT: May 2020 Month End Treasurer's Report BACKGROUND July 21, 2020 The California Government Code and the Town of Danville's Investment Policy require that a report specifying the investment activity during the month, as well as the month- end investment balances, be prepared and presented to the Town Council on a monthly basis. DISCUSSION Beginning and Ending Cash and Investment Balances for the month of May 2020: Purchases for the month of May 2020 consisted of one Federal Farm Credit Bank Note for $1,418,197 (maturity date May 6, 2022), one Federal Home Loan Mortgage Corporation Note for $1,329,441 (maturity date May 5, 2023) and one Federal National Mortgage Association Note for $1,420,711 (maturity date May 22, 2023). There were no purchases for the NERIAD Fund for the month of May 2020. Maturities for the month included one Inter -American Dev Bank Note for $1,237,061 and one Federal Home Loan Bank Note for $1,505,160. Sales before maturities for the month included one Honda Auto Receivables Trust 2018- Cost Basis Market Value April May April May 30, 2020 312,020 30, 2020 312020 Town Funds $80,073,938 $81,578,340 $82,043,624 $83,623,122 Trust Funds 995,617 1,004,306 995,617 1,004,306 Assessment & SA 1,787,459 1,892,675 1,792,838 1,895,671 Total Cash & Investments $82,857,014 $84,475,321 $84,832,079 $86,523,099 Total Cash & Investments Year -to -Year Comparison 2019 $89,709,571 $89,122,174 $89,562,047 $89,352,867 Purchases for the month of May 2020 consisted of one Federal Farm Credit Bank Note for $1,418,197 (maturity date May 6, 2022), one Federal Home Loan Mortgage Corporation Note for $1,329,441 (maturity date May 5, 2023) and one Federal National Mortgage Association Note for $1,420,711 (maturity date May 22, 2023). There were no purchases for the NERIAD Fund for the month of May 2020. Maturities for the month included one Inter -American Dev Bank Note for $1,237,061 and one Federal Home Loan Bank Note for $1,505,160. Sales before maturities for the month included one Honda Auto Receivables Trust 2018- 2 A3 (partial) for $17,120 and one Honda Auto Receivables Trust 2018-3 A3 (partial) for $35,858. Maturities for the NERIAD Fund for the month of May 2020 consisted of one United States Treasury Note for $198,453. The Town's net cash position changed from $14,197,582 to $14,328,828 during the month of May 2020. This consisted of operating revenues in excess of operating expenses of $1,385,382, net funds invested of -$1,373,150, premium/ discount recognition of -$669 and interest received of $119,683. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town's Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the May 2020 Month End Treasurer's Report. Prepared by: Lani Ha Finance Manager/ Treasurer Reviewed by: 1 *"16f Joseph A. Calabrigo Town Manager Attachment: May 2020 Month End Treasurer's Report May 2020 Treasurer's Report 2 July 21, 2020 Description TOWN FUNDS U.S. Treasury Obligations Federal Agency Issues Cash Equivalents Asset -Backed Securities Commercial Paper Negotiable CD Supranational US Corporate Total / Weighted Average Maturities 0 - 30 Days 31-60 61 -90 91 -120 121 - 180 181-270 271 -365 1 - 2 Years 2-3 3-5 Over 5 Years Total / Weighted Average Town of Danville Treasurer's Report of Investments - Summary May 31, 2020 Par Value Cost Market Value % Total Yield to Maturity $ 20,350,000 $ 20,090,758 $ 20,813,073 25% 1.98% 29,575,000 29,782,104 30,602,642 37% 1.78% 14,328,828 14,328,828 14,328,828 17% 0.91% 2,505,279 2,505,086 2,543,637 3% 2.13% 0 0 0 0% 0.00% 0 0 0 0% 0.00% 3,600,000 3,550,950 3,645,897 4% 2.24% 11,215,000 11,320,614 11,689,045 14% 2.53% $ 81,574,107 $ 81,578,340 $ 83,623,122 100% 1.82% $ 14,266,044 17% 1,504,011 2% 2,307,353 3% 2,708,558 3% 2,701,779 3% 3,733,165 4% 5,529,724 7% 16,508,142 20% 25,215,786 30% 9,148,560 11% 0 0% $ 83,623,122 100% Town Funds Weighted Average Quality is AAA Page 1 Description TRUST FUND Cash Equivalents CDA/SUCCESSOR AGENCY Cash Equivalents Total ASSESSMENT DISTRICTS NERIAD Federal Agency Issues U.S. Treasury Obligations Cash Equivalents Subtotal Total SUMMARY TOTAL Town Funds Trust Fund CDA/Successor Agency NERIAD Summary Total Town of Danville Treasurer's Report of Investments - Summary May 31, 2020 Par Value Cost Market Value % Total $ 1,004,306 $ 1,004,306 $ 1,004,306 100% $ 599,447 $ 599,447 $ 599,447 100% $ 599,447 $ 599,447 $ 599,447 100% $ 147,000 $ 148,377 $ 148,289 435,000 434,344 437,428 710,507 710,507 710,507 $ 1,292,507 $ 1,293,228 $ 1,296,224 $ 1,292,507 $ 1,293,228 $ 1,296,224 $ 81,574,107 $ 81,578,340 $ 83,623,122 1,004,306 1,004,306 1,004,306 599,447 599,447 599,447 1,292,507 1,293,228 1,296,224 $ 84,470,367 $ 84,475,321 $ 86,523,099 Page 2 11% 34% 55% 100% 100% Beginning Balance, at cost Purchases, at cost FFCB Note FHLMC Note FNMA Note Sales/Maturations/Call Inter -American Dev Bank Note FHLB Note US Treasury Note Redemption Premium/Discount Interest Received Net change in Cash Realized gains (losses) Ending Balance, at cost Town of Danville Treasurer's Report of Investments May 31, 2020 Town Funds CDA Trust Funds Successor Agency NERIAD $ 80,073,938 $ 995,617 $ 600,944 $ 1,287,947 $ 1,418,197 $ 1,329,441 $ 1,420,711 (1,237,061) $ (1,505,160) $ (52,978) $ (669) $ 119,683 $ 12,239 Total $ 82,958,446 1,418,197 1,329,441 1,420,711 (1,237,061) (1,505,160) (198,453) (198,453) - (52,978) - (669) 3 631 120,317 8,689 (1,500) 203,103 222,531 $ 81,578,340 $ 1,004,306 $ 599,447 $ 1,293,228 84,475,321 Page 3 Description Federal Agency Issues FNMA Note FHLB Note FFCB Note FHLB Note FFCB Note FHLB Note FNMA Note FNMA Note FFCB Note FHLB Note FHLB Note FNMA Note FNMA Note FHLB Note FFCB Note FHLB Note FHLB Note FNMA Note FHLB Note FHLMC Note FNMA Note FHLB Note FNMA Note FHLB Note Subtotal Town of Danville Treasurer's Report of Investments - Detail Town Funds May 31, 2020 Purchase Date Maturity Date Par Value Cost Yield to Market Value Maturity Annual Interest 10/19/2015 06/22/2020 1,500,000 1,503,954 1,501,200 1.44% 21,600 10/23/2015 07/29/2020 1,500,000 1,521,315 1,504,011 1.52% 22,800 11/21/2017 11/27/2020 350,000 349,279 352,902 1.97% 6,895 01/27/2016 12/11/2020 1,500,000 1,520,355 1,513,089 1.58% 23,700 12/11/2018 11/15/2021 1,600,000 1,607,984 1,666,267 2.87% 45,920 12/15/2017 12/10/2021 1,000,000 989,100 1,025,156 2.16% 21,600 09/27/2017 01/05/2022 1,400,000 1,405,418 1,439,971 1.90% 26,600 02/13/2019 01/11/2022 1,000,000 1,001,160 1,039,015 2.58% 25,800 04/30/2020 05/06/2022 1,420,000 1,418,197 1,420,009 0.31% 4,402 06/12/2018 06/10/2022 475,000 473,418 498,615 2.84% 13,490 07/17/2018 06/10/2022 1,000,000 996,850 1,049,906 2.84% 28,400 09/06/2019 09/06/2022 825,000 822,129 847,959 1.55% 12,788 09/26/2019 09/06/2022 700,000 695,149 716,990 1.55% 10,850 11/05/2018 09/09/2022 1,000,000 1,000,830 1,063,734 3.10% 31,000 10/15/2019 10/11/2022 1,500,000 1,488,585 1,538,955 1.64% 24,600 08/27/2018 12/09/2022 1,250,000 1,235,000 1,319,218 2.80% 35,000 12/20/2018 12/09/2022 1,700,000 1,714,756 1,806,393 2.77% 47,090 03/18/2019 01/19/2023 1,500,000 1,495,455 1,584,947 2.46% 36,900 03/28/2019 03/10/2023 900,000 917,136 960,403 2.24% 20,160 05/05/2020 05/05/2023 1,330,000 1,329,441 1,332,133 0.39% 5,187 05/20/2020 05/22/2023 1,425,000 1,420,711 1,422,043 0.35% 4,988 06/10/2019 06/09/2023 1,500,000 1,507,305 1,581,219 2.00% 30,000 03/24/2020 02/05/2024 1,700,000 1,808,052 1,837,057 0.82% 13,940 03/03/2020 03/08/2024 1,500,000 1,560,525 1,581,450 0.85% 12,750 $ 29,575,000 $ 29,782,104 $ 30,602,642 1.78% $ 526,459 Page 4 Town of Danville Treasurer's Report of Investments - Detail Town Funds May 31, 2020 Page 5 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest U.S. Treasury Obligations U.S. Treasury Notes 10/19/2015 07/31/2020 1,500,000 1,520,923 1,503,719 1.32% 19,800 U.S. Treasury Notes 01/30/2017 08/31/2020 1,200,000 1,188,238 1,203,692 1.66% 19,920 U.S. Treasury Notes 04/25/2017 09/30/2020 500,000 496,095 501,953 1.61% 8,050 U.S. Treasury Notes 12/22/2015 10/31/2020 1,300,000 1,301,122 1,308,277 1.73% 22,490 U.S. Treasury Notes 02/27/2017 11/30/2020 1,200,000 1,198,457 1,208,626 1.66% 19,920 U.S. Treasury Notes 06/15/2017 03/31/2021 1,500,000 1,478,501 1,513,067 1.64% 24,600 U.S. Treasury Notes 06/08/2017 04/30/2021 1,500,000 1,484,536 1,516,055 1.65% 24,750 U.S. Treasury Notes 01/10/2018 09/30/2021 1,250,000 1,202,393 1,265,576 2.20% 27,500 U.S. Treasury Notes 08/29/2018 10/31/2021 1,500,000 1,465,781 1,538,613 2.76% 41,400 U.S. Treasury Notes 02/08/2018 02/28/2022 1,300,000 1,269,227 1,338,441 2.49% 32,370 U.S. Treasury Notes 10/24/2017 03/31/2022 1,250,000 1,244,580 1,288,819 1.98% 24,750 U.S. Treasury Notes 10/04/2018 08/31/2022 900,000 862,488 934,594 3.01% 27,090 U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 993,009 2.28% 21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,562,462 1.87% 28,050 U.S. Treasury Notes 04/11/2019 05/31/2023 1,500,000 1,460,156 1,563,984 2.30% 34,500 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,572,188 1.78% 26,700 Subtotal $ 20,350,000 $ 20,090,758 $ 20,813,073 1.98% $ 403,550 Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP) 463,752 463,752 463,752 0.01% 46 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP) 348,831 348,831 348,831 0.01% 35 Bank of New York 1,748,928 1,748,928 1,748,928 0.01% 175 US Bank 2,121,749 2,121,749 2,121,749 0.00% 35 LAIF 9,645,567 9,645,567 9,645,567 1.36% 131,469 Subtotal $ 14,328,828 $ 14,328,828 $ 14,328,828 0.91% 131,761 Asset -Backed Securities Honda Auto Receivables Trust 2018-2 A3 05/22/2018 05/18/2022 224,225 224,220 227,373 3.03% 6,794 Honda Auto Receivables Owner 2018-3 A3 08/21/2018 08/22/2022 531,054 530,981 538,647 2.98% 15,825 Honda Auto Receivables Owner Trust 2019-3 A3 08/20/2019 08/15/2023 535,000 534,996 543,778 1.79% 9,577 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 275,000 274,942 278,682 2.23% 6,133 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 570,000 569,970 583,783 1.94% 11,058 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 370,000 369,977 371,373 1.11% 4,107 Subtotal $ 2,505,279 $ 2,505,086 $ 2,543,637 2.13% $ 53,493 Page 5 Town of Danville Treasurer's Report of Investments - Detail Town Funds May 31, 2020 Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Supranational Intl. Bank Recon & Development Note 08/22/2017 09/04/2020 1,500,000 1,499,685 1,504,866 1.63% 24,450 International Finance Corp Note 01/26/2018 01/25/2021 1,000,000 997,047 1,011,450 2.35% 23,500 Inter -American Dev Bank Note 09/13/2018 04/14/2022 1,100,000 1,054,218 1,129,581 2.99% 32,890 Subtotal $ 3,600,000 $ 3,550,950 $ 3,645,897 2.24% $ 80,840 US Corporate State Street Bank Note 05/22/2017 08/18/2020 800,000 816,280 803,634 1.90% 15,200 PNC Bank Callable Note Cont 04/03/2018 04/29/2021 910,000 887,257 922,794 3.01% 27,391 Blackrock Inc Note 04/27/2018 05/24/2021 1,000,000 1,035,570 1,034,031 3.03% 30,300 Apple Inc Callable Note Cont 11/21/2017 08/04/2021 750,000 729,450 759,570 2.33% 17,475 Berkshire Hathaway Note 03/16/2018 05/15/2022 1,000,000 1,000,670 1,056,252 2.98% 29,800 Oracle Corp Callable Note Cont 10/09/2019 05/15/2022 1,000,000 1,016,200 1,034,817 1.86% 18,600 Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 511,978 2.04% 10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 266,498 2.28% 5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 1,040,869 3.22% 32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 791,240 2.77% 20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 793,865 2.37% 17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 793,814 2.54% 19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 867,021 2.54% 20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 1,012,662 2.07% 19,665 Subtotal $ 11,215,000 $ 11,320,614 $ 11,689,045 2.53% $ 284,565 TOTAL $ 81,574,107 $ 81,578,340 $ 83,623,122 1.82% $ 1,480,668 Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Cash Equivalents LAIF Description TOTAL Source: Local Agency Investment Fund (LAIF) Town of Danville Treasurer's Report of Investments - Detail Trust Fund May 31, 2020 Purchase Date Maturity Date Par Value Cost Market Value Yield to Annual Maturity Interest $ 1,004,306 $ 1,004,306 $ 1,004,306 1.36% 13,689 $ 1,004,306 $ 1,004,306 $ 1,004,306 1.36% $13,689 Page 7 Town of Danville Treasurer's Report of Investments - Detail Community Development Agency/Successor Agency May 31, 2020 Description Purchase Date Maturity Date Cash Equivalents LAIF - redemption fund Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs) Wells Fargo Trsry Plus M Mkt - interest acct (TRBs) Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs) Subtotal TOTAL Source: BNY Trust Company Local Agency Investment Fund (LAIF) Yield to Annual Par Value Cost Market Value Maturity Interest $ 220,464 $ 220,464 $ 220,464 1.36% 3,005 $ 375,714 375,714 375,714 0.01% 38 $ 3,266 3,266 3,266 0.01% 0 $ 3 3 3 0.00% 0 $ 599,447 $ 599,447 $ 599,447 0.51% $ 3,043 $ 599,447 $ 599,447 $ 599,447 0.51% $ 3,043 Page 8 Town of Danville Treasurer's Report of Investments - Detail Northeast Roadway Improvement Assessment District (NERIAD) May 31, 2020 Description Purchase Date Maturity Date Par Value Cost Federal Agency Issues Yield to Annual Market Value Maturity Interest FFCB Discount Note 3/24/2020 6/12/2020 $ 47,000 $ 46,945 $ 46,945 0.54% 254 FFCB Note 4/8/2020 12/21/2020 $ 100,000 $ 101,432 $ 101,343 0.65% 650 Subtotal $ 147,000 $ 148,377 $ 148,289 0.61% $ 904 U.S. Treasury Obligations U.S. Treasury Notes - Improvement fund 9/30/2019 8/15/2020 $ 160,000 $ 159,538 $ 160,451 1.83% 2,928 U.S. Treasury Notes - Improvement fund 12/2/2019 11/30/2020 $ 275,000 $ 274,807 $ 276,977 1.70% 4,675 Subtotal $ 435,000 $ 434,344 $ 437,428 1.75% $ 7,603 Cash Equivalents LAIF - improvement fund $ 433,908 $ 433,908 $ 433,908 1.36% 5,914 Bank of New York -Improvement fd $ 276,599 276,599 276,599 0.01% 28 Subtotal $ 710,507 $ 710,507 $ 710,507 0.84% $ 5,942 Total $ 1,292,507 $ 1,293,228 $ 1,296,224 1.12% $ 14,449 Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Page 9