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Home My WebLink About081721-06.3 ADMINISTRATIVE STAFF REPORT 6.3 TO: Mayor and Town Council August 17, 2021 SUBJECT: June 2021 Month End Treasurer’s Report BACKGROUND 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 June 2021: May June May June 31, 2021 30, 2021 31, 2021 30, 2021 Town Funds $93,049,428 $93,770,239 $94,324,083 $94,838,294 Trust Funds 1,065,885 1,098,358 1,065,885 1,098,358 Assessment & SA 1,692,237 2,474,547 1,691,187 2,473,194 Total Cash & Investments $95,807,550 $97,343,144 $97,081,155 $98,409,846 Total Cash & Investments Year-to-Year Comparison 2020 $84,475,321 $86,802,810 $86,523,099 $88,849,217 Cost Basis Market Value Purchases for the month of June 2021 consisted of three JP Morgan Chase & Co Callable Note for $750,972 (maturity date June 1, 2025), one John Deere Capital Corp Note for $539,325 (maturity date June 7, 2024), one Toyota Auto Receivables Trust 2021-B A3 for $1,024,890 (maturity date November 17, 2025), one U.S Treasury Note for $1,483,359 (maturity date May 31, 2025), one U.S. Treasury Note for $1,496,543 (maturity date June 15, 2024) and one Mercedes-Benz Auto Lease Trust 2021-B A3 for $359,973 (maturity date November 15, 2024). There were no purchases for the NERIAD Fund for the month of June 2021. Maturities for the month included one Federal Farm Credit Bank System Note for $1,418,197. June 2021 Treasurer’s Report 2 August 17, 2021 Sales before maturities for the month included one Honda Auto Receivables Trust 2019- 3 A3 (partial) for $34,648.91, one John Deere Owner Trust 2019-B A3 (partial) for $12,611.79, one Honda Auto Receivables Trust 2018-2 A3 (partial) for $12,400.44 and one Honda Auto Receivables Trust 2018-3 A3 (partial) for $25,451.51. There were no maturities for the NERIAD Fund for the month of June 2021. The Town's net cash position changed from $23,955,030 to $20,524,080 during the month of June 2021. This consisted of operating revenues in excess of operating expenses of $581,007 net funds invested of -$4,151,753, premium/discount recognition of $4,324 and interest received of $135,472. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the June 2021 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: June 2021 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary June 30, 2021 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 22,000,000$ 21,836,979$ 22,216,256$ 23%1.38% Federal Agency Issues 35,515,000 35,666,625 36,064,950 38%1.28% Cash Equivalents 20,524,080 20,524,080 20,524,080 22%0.22% Asset-Backed Securities 3,391,277 3,390,978 3,406,141 4%1.09% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 1,455,000 1,408,455 1,467,987 2%2.33% US Corporate 10,885,000 10,943,122 11,158,880 12%1.94% Total / Weighted Average 93,770,357$ 93,770,239$ 94,838,294$ 100%1.16% Maturities 0 - 30 Days 21,274,136$ 22% 31-60 0 0% 61 - 90 0 0% 91 - 120 1,253,325 1% 121 - 180 4,151,032 4% 181 - 270 3,336,863 4% 271 - 365 4,916,090 5% 1 - 2 Years 27,876,773 29% 2 - 3 26,154,151 28% 3 - 5 5,875,924 6% Over 5 Years 0 0% 94,838,294$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary June 30, 2021 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 1,098,358$ 1,098,358$ 1,098,358$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 1,199,629$ 1,199,629$ 1,199,629$ 100% Total 1,199,629$ 1,199,629$ 1,199,629$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 850,000 852,330 850,977 67% Cash Equivalents 422,588 422,588 422,588 33% Subtotal 1,272,588$ 1,274,918$ 1,273,565$ 100% Total 1,272,588$ 1,274,918$ 1,273,565$ 100% SUMMARY TOTAL Town Funds 93,770,357$ 93,770,239$ 94,838,294$ Trust Fund 1,098,358 1,098,358 1,098,358 CDA/Successor Agency 1,199,629 1,199,629 1,199,629 NERIAD 1,272,588 1,274,918 1,273,565 Summary Total 97,340,932$ 97,343,144$ 98,409,846$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 93,049,428$ 1,065,885$ 417,380$ 1,274,857$ 95,807,550$ Purchases, at cost JP Morgan Chase & Co Callable Note 150,000$ 150,000 JP Morgan Chase & Co Callable Note 400,652$ 400,652 JP Morgan Chase & Co Callable Note 200,320$ 200,320 John Deere Capital Corp Note 539,325$ 539,325 Toyota Auto Receivables Trust 2021-B A3 1,024,890$ - 1,024,890 US Treasury Note 1,483,359$ 1,483,359 US Treasury Note 1,496,543$ 1,496,543 Mercedes-BenzAuto Lease Trust 2021-B A3 359,973$ 359,973 Sales/Maturations/Call - - Federal Farm Credit Bank System Note (1,418,197)$ (1,418,197) -$ - Redemption (85,112)$ (85,112) Premium/Discount 4,324$ - - 4,324 Interest Received 135,472$ - 3 608 136,083 Net change in Cash (3,570,739)$ 32,474 782,246 (547)(2,756,566) Realized gains (losses)- Ending Balance, at cost 93,770,239$ 1,098,358$ 1,199,629$ 1,274,918$ 97,343,144 June 30, 2021 Page 3 Town of Danville Treasurer's Report of Investments - Detail Town Funds Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Federal Agency Issues FFCB Note 12/11/2018 11/15/2021 1,600,000 1,607,984 1,617,659 2.87%45,920 FHLB Note 12/15/2017 12/10/2021 1,000,000 989,100 1,008,024 2.16%21,600 FNMA Note 09/27/2017 01/05/2022 1,400,000 1,405,418 1,413,724 1.90%26,600 FHLB Note 06/12/2018 06/10/2022 475,000 473,418 486,721 2.84%13,490 FHLB Note 07/17/2018 06/10/2022 1,000,000 996,850 1,024,862 2.84%28,400 FNMA Note 09/06/2019 09/06/2022 825,000 822,129 838,194 1.55%12,788 FNMA Note 09/26/2019 09/06/2022 700,000 695,149 708,732 1.55%10,850 FHLB Note 11/05/2018 09/09/2022 1,000,000 1,000,830 1,035,506 3.10%31,000 FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,523,786 1.64%24,600 FHLB Note 08/27/2018 12/09/2022 1,250,000 1,235,000 1,291,528 2.80%35,000 FHLB Note 12/20/2018 12/09/2022 1,700,000 1,714,756 1,768,614 2.77%47,090 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,550,570 2.46%36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 938,443 2.24%20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,441 1,333,364 0.39%5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,424,850 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,501,014 0.33%4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,550,294 2.00%30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,190 1,304,826 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 559,173 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 900,661 0.28%2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,496,722 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,499,644 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 889,165 0.26%2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 599,360 0.26%1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,453,432 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,497,178 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,498,039 0.26%3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,792,844 0.82%13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,558,021 0.85%12,750 Subtotal 35,515,000$ 35,666,625$ 36,064,950$ 1.28%458,116$ June 30, 2021 Page 4 Town of Danville Treasurer's Report of Investments - Detail Town Funds Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest June 30, 2021 U.S. Treasury Obligations U.S. Treasury Notes 01/10/2018 09/30/2021 1,250,000 1,202,393 1,253,325 2.20%27,500 U.S. Treasury Notes 08/29/2018 10/31/2021 1,500,000 1,465,781 1,509,669 2.76%41,400 U.S. Treasury Notes 02/08/2018 02/28/2022 1,300,000 1,269,227 1,315,539 2.49%32,370 U.S. Treasury Notes 10/24/2017 03/31/2022 1,250,000 1,244,580 1,266,699 1.98%24,750 U.S. Treasury Notes 10/04/2018 08/31/2022 900,000 862,488 918,352 3.01%27,090 U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 974,641 2.28%21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,537,968 1.87%28,050 U.S. Treasury Notes 04/11/2019 05/31/2023 1,500,000 1,460,156 1,539,550 2.30%34,500 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,545,528 1.78%26,700 U.S. Treasury Notes 01/02/2021 12/15/2023 750,000 747,861 746,074 0.22%1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,352 998,750 0.36%3,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,243,261 0.36%4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,490,976 0.33%4,950 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 1,023,672 0.26%2,600 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,541,426 0.40%6,000 U.S. Treasury Notes 03/12/2021 03/31/2025 850,000 846,115 845,982 0.61%5,185 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 989,570 0.33%3,300 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,360 1,475,274 0.53%7,950 Subtotal 22,000,000$ 21,836,979$ 22,216,256$ 1.38%303,755$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)462,004 462,004 462,004 0.01%46 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)347,515 347,515 347,515 0.01%35 Bank of New York 616,630 616,630 616,630 0.01%62 US Bank 1,279,765 1,279,765 1,279,765 0.00%21 LAIF 17,818,166 17,818,166 17,818,166 0.26%46,684 Subtotal 20,524,080$ 20,524,080$ 20,524,080$ 0.22%46,848 Asset-Backed Securities Honda Auto Receivables Trust 2018-2 A3 05/22/2018 05/18/2022 15,648 15,648 15,679 3.03%474 Honda Auto Receivables Owner 2018-3 A3 08/21/2018 08/22/2022 102,111 102,097 102,641 2.98%3,043 Honda Auto Receivables Owner Trust 2019-3 A3 08/20/2019 08/15/2023 500,352 500,348 504,959 1.79%8,956 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 193,166 193,125 195,685 2.23%4,308 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 570,000 569,970 577,089 1.94%11,058 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 370,000 369,977 372,848 1.11%4,107 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 359,822 0.40%1,440 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 254,670 0.37%944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,889 1,022,748 0.26%2,665 Subtotal 3,391,277$ 3,390,978$ 3,406,141$ 1.09%36,994$ Page 5 Town of Danville Treasurer's Report of Investments - Detail Town Funds Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest June 30, 2021 Supranational Inter-American Dev Bank Note 09/13/2018 04/14/2022 1,100,000 1,054,218 1,114,157 2.99%32,890 Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 353,830 0.32%1,136 Subtotal 1,455,000$ 1,408,455$ 1,467,987$ 2.33%34,026$ US Corporate Apple Inc Callable Note Cont 11/21/2017 08/04/2021 750,000 729,450 750,057 2.33%17,475 Berkshire Hathaway Note 03/16/2018 05/15/2022 1,000,000 1,000,670 1,023,651 2.98%29,800 Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 510,161 2.04%10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 261,096 2.28%5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 1,036,115 3.22%32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 778,034 2.77%20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 779,598 2.37%17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 778,112 2.54%19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 847,805 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 1,021,668 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,563 614,369 0.47%2,891 Amazon.comInc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 568,934 0.50%2,850 CaterpillarFinancial Service Note 05/10/2021 05/17/2024 905,000 903,787 902,269 0.50%4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 538,391 0.49%2,646 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 748,620 0.74%5,550 Subtotal 10,885,000$ 10,943,122$ 11,158,880$ 1.94%211,536$ TOTAL 93,770,357$ 93,770,239$ 94,838,294$ 1.16%1,091,274$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail June 30, 2021 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 1,098,358$ 1,098,358$ 1,098,358$ 0.26%2,878 TOTAL 1,098,358$ 1,098,358$ 1,098,358$ 0.26% $2,878 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail June 30, 2021 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 824,644$ 824,644$ 824,644$ 0.26%2,161 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)362,014$ 362,014 362,014 0.01%36 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)12,948.0$ 12,948 12,948 0.01%1 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)23$ 23 23 0.01%0 Subtotal 1,199,629$ 1,199,629$ 1,199,629$ 0.18%2,198$ TOTAL 1,199,629$ 1,199,629$ 1,199,629$ 0.18%2,198$ Source: BNY Trust Company Local Agency Investment Fund (LAIF) Community Development Agency/Successor Agency Page 8 Town of Danville Treasurer's Report of Investments - Detail Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest U.S. Treasury Obligations U.S. Treasury Note 8/24/2020 7/15/2021 225,000$ 224,754$ 224,754$ 0.12%270 U.S. Treasury Note 11/30/2020 11/4/2021 250,000$ 249,759$ 249,759$ 0.10%250 U.S. Treasury Note 12/18/2020 11/30/2021 125,000$ 127,075$ 125,937$ 0.11%138 U.S. Treasury Note 3/30/2021 3/31/2022 250,000$ 250,742$ 250,527$ 0.08%200 Subtotal 850,000$ 852,330$ 850,977$ 0.10%858$ Cash Equivalents LAIF - improvement fund 408,752$ 408,752$ 408,752$ 0.26%1,071 Bank of New York-Improvement fd 13,836$ 13,836 13,836 0.01%1 Subtotal 422,588$ 422,588$ 422,588$ 0.25%1,072$ Total 1,272,588$ 1,274,918$ 1,273,565$ 0.15%1,930$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) June 30, 2021 Page 9