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HomeMy WebLinkAbout122121-05.6 ADMINISTRATIVE STAFF REPORT 5.6 TO: Mayor and Town Council December 21, 2021 SUBJECT: October 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 October 2021: September October September October 30, 2021 31, 2021 30, 2021 31, 2021 Town Funds $93,282,569 $90,754,164 $94,018,894 $91,157,802 Trust Funds 1,799,273 2,284,899 1,799,273 2,284,899 Assessment & SA 1,691,758 1,676,761 1,689,703 1,674,396 Total Cash & Investments $96,773,600 $94,715,824 $97,507,870 $95,117,097 Total Cash & Investments Year-to-Year Comparison 2020 $81,825,008 $79,765,269 $83,729,457 $81,568,896 Purchases for the month of October 2021 consisted of one U.S. Treasury Note for $496,035 (maturity date March 31, 2025). There were no purchases for the NERIAD Fund for the month of October 2021. There were no maturities for the month of October 2021. Sales before maturities for the month included one Honda Auto Receivables Trust 2019- 3 A3 for $34,995, one John Deere Owner Trust 2019-B A3 for $11,131, one Nissan Auto Oct 2021 Treasurer’s Report 2 December 21, 2021 Receivables Owner 2019-C A3 for $35,747, and one Honda Auto Receivables Trust 2018- 3 A3 for $21,357. There were no maturities for the NERIAD Fund for the month of October 2021. The Town’s net cash position changed from $16,810,591 to $12,104,365 during the month of October 2021. This consisted of operating expenses in excess of operating revenues of -$4,355,030 net funds invested of -$392,805, premium/discount recognition of $7 and interest received of $41,602. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the October 2021 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: October 2021 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary October 31, 2021 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 25,500,000$ 25,439,246$ 25,526,539$ 28% 1.03% Federal Agency Issues 35,515,000 35,666,625 35,860,506 39% 1.28% Cash Equivalents 12,104,365 12,104,365 12,104,365 13% 0.15% Asset-Backed Securities 3,259,249 3,258,954 3,255,058 4% 0.88% Commercial Paper 0 0 0 0% 0.00% Negotiable CD 0 0 0 0% 0.00% Supranational 3,705,000 3,686,510 3,715,213 4% 1.21% US Corporate 10,520,000 10,598,464 10,696,121 12% 1.86% Total / Weighted Average 90,603,614$ 90,754,164$ 91,157,802$ 100%1.12% Maturities 0 - 30 Days 12,173,136$ 13% 31-60 1,001,862 1% 61 - 90 1,404,696 2% 91 - 120 1,307,706 1% 121 - 180 2,725,251 3% 181 - 270 2,513,168 3% 271 - 365 5,763,826 6% 1 - 2 Years 30,845,448 34% 2 - 3 25,278,636 28% 3 - 5 8,144,073 9% Over 5 Years 0% 91,157,802$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary October 31, 2021 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 2,284,899$ 2,284,899$ 2,284,899$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 418,865$ 418,865$ 418,865$ 100% Total 418,865$ 418,865$ 418,865$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 860,000 862,412 860,047 69% Cash Equivalents 395,484 395,484 395,484 31% Subtotal 1,255,484$ 1,257,896$ 1,255,531$ 100% Total 1,255,484$ 1,257,896$ 1,255,531$ 100% SUMMARY TOTAL Town Funds 90,603,614$ 90,754,164$ 91,157,802$ Trust Fund 2,284,899 2,284,899 2,284,899 CDA/Successor Agency 418,865 418,865 418,865 NERIAD 1,255,484 1,257,896 1,255,531 Summary Total 94,562,862$ 94,715,824$ 95,117,097$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 93,282,569$ 1,799,273$ 433,840$ 1,257,918$ 96,773,600$ Purchases, at cost US Treasury Note 496,035$ 496,035 -$ - -$ - -$ - Sales/Maturations/Call - - US Treasury Note - -$ - US Treasury Note - -$ - - - -$ - Redemption (103,230)$ (103,230) Premium/Discount 7$ - - 7 Interest Received 41,602$ - - 143 41,745 Net change in Cash (2,962,819)$ 485,627 (14,975) (165) (2,492,332) Realized gains (losses) - Ending Balance, at cost 90,754,164$ 2,284,899$ 418,865$ 1,257,896$ 94,715,824 October 31, 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 1,601,878 2.87% 45,920 FHLB Note 12/15/2017 12/10/2021 1,000,000 989,100 1,001,862 2.16% 21,600 FNMA Note 09/27/2017 01/05/2022 1,400,000 1,405,418 1,404,696 1.90% 26,600 FHLB Note 06/12/2018 06/10/2022 475,000 473,418 482,580 2.84% 13,490 FHLB Note 07/17/2018 06/10/2022 1,000,000 996,850 1,016,142 2.84% 28,400 FNMA Note 09/06/2019 09/06/2022 825,000 822,129 835,012 1.55% 12,788 FNMA Note 09/26/2019 09/06/2022 700,000 695,149 706,042 1.55% 10,850 FHLB Note 11/05/2018 09/09/2022 1,000,000 1,000,830 1,025,642 3.10% 31,000 FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,517,521 1.64% 24,600 FHLB Note 08/27/2018 12/09/2022 1,250,000 1,235,000 1,281,886 2.80% 35,000 FHLB Note 12/20/2018 12/09/2022 1,700,000 1,714,756 1,752,547 2.77% 47,090 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,538,955 2.46% 36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 929,954 2.24% 20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,441 1,330,263 0.39% 5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,421,864 0.35% 4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,497,502 0.33% 4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,540,563 2.00% 30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,190 1,301,654 0.35% 4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 557,436 0.28% 1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 897,864 0.28% 2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,492,665 0.27% 4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,493,990 0.22% 3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 886,374 0.26% 2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 597,478 0.26% 1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,447,198 0.28% 4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,492,032 0.27% 4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,492,143 0.26% 3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,773,126 0.82% 13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,543,637 0.85% 12,750 Subtotal 35,515,000$ 35,666,625$ 35,860,506$ 1.28% 458,116$ October 31, 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 October 31, 2021 U.S. Treasury Obligations U.S. Treasury Notes 02/08/2018 02/28/2022 1,300,000 1,269,227 1,307,706 2.49% 32,370 U.S. Treasury Notes 10/24/2017 03/31/2022 1,250,000 1,244,580 1,259,083 1.98% 24,750 U.S. Treasury Notes 10/04/2018 08/31/2022 900,000 862,488 913,078 3.01% 27,090 U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 968,704 2.28% 21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,528,359 1.87% 28,050 U.S. Treasury Notes 04/11/2019 05/31/2023 1,500,000 1,460,156 1,529,413 2.30% 34,500 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,533,105 1.78% 26,700 U.S. Treasury Notes 01/02/2021 12/15/2023 750,000 747,861 743,233 0.22% 1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,352 993,164 0.36% 3,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,236,914 0.36% 4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,482,715 0.33% 4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,648 1,486,641 0.38% 5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 1,014,570 0.26% 2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,265 1,385,782 0.44% 6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,379,321 0.45% 6,075 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,526,016 0.40% 6,000 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,332,544 0.66% 8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 981,250 0.33% 3,300 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,360 1,463,379 0.53% 7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,461,562 0.56% 8,400 Subtotal 25,500,000$ 25,439,246$ 25,526,539$ 1.03% 264,915$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP) 461,998 461,998 461,998 0.01% 46 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP) 347,517 347,517 347,517 0.01% 35 Bank of New York 603,909 603,909 603,909 0.01% 60 US Bank 1,335,186 1,335,186 1,335,186 0.00% 22 LAIF 9,355,754 9,355,754 9,355,754 0.20% 18,712 Subtotal 12,104,365$ 12,104,365$ 12,104,365$ 0.15% 18,875 Asset-Backed Securities Honda Auto Receivables Trust 2018-3 A3 08/21/2018 08/22/2022 9,410 9,409 9,426 2.98% 280 Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 346,432 346,429 348,823 1.79% 6,201 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 145,865 145,834 147,123 2.23% 3,253 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 437,542 437,519 441,376 1.94% 8,488 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 370,000 369,977 371,868 1.11% 4,107 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 358,033 0.40% 1,440 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 253,631 0.37% 944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 1,016,983 0.26% 2,665 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 307,795 0.52% 1,612 Subtotal 3,259,249$ 3,258,954$ 3,255,058$ 0.88% 28,990$ 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 October 31, 2021 Supranational Inter-American Dev Bank Note 09/13/2018 04/14/2022 1,100,000 1,054,218 1,107,920 2.99% 32,890 Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 352,511 0.32% 1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,238,139 0.52% 6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 1,016,643 0.46% 4,600 Subtotal 3,705,000$ 3,686,510$ 3,715,213$ 1.21% 45,126$ US Corporate Berkshire Hathaway Note 03/16/2018 05/15/2022 1,000,000 1,000,670 1,014,445 2.98% 29,800 Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 507,334 2.04% 10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 259,196 2.28% 5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 1,026,475 3.22% 32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 770,653 2.77% 20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 771,391 2.37% 17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 771,084 2.54% 19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 836,255 2.54% 20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 1,004,369 2.07% 19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,563 611,644 0.47% 2,891 Amazon.comInc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 565,810 0.50% 2,850 CaterpillarFinancial Service Note 05/10/2021 05/17/2024 905,000 903,787 897,038 0.50% 4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 535,318 0.49% 2,646 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 380,994 0.74% 5,550 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 744,115 0.52% 2,002 Subtotal 10,520,000$ 10,598,464$ 10,696,121$ 1.86% 196,063$ TOTAL 90,603,614$ 90,754,164$ 91,157,802$ 1.12%1,012,085$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail October 31, 2021 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 2,284,899$ 2,284,899$ 2,284,899$ 0.20% 4,570 TOTAL 2,284,899$ 2,284,899$ 2,284,899$ 0.20% $4,570 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail October 31, 2021 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 43,897$ 43,897$ 43,897$ 0.20% 88 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs) 374,961$ 374,961 374,961 0.01% 37 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs) 7$ 7 7 0.01% 0 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs) -$ 0 0 0.01% 0 Subtotal 418,865$ 418,865$ 418,865$ 0.03% 125$ TOTAL 418,865$ 418,865$ 418,865$ 0.03%125$ 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 Bill 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$ 125,179$ 0.11% 138 U.S. Treasury Note 3/30/2021 3/31/2022 250,000$ 250,742$ 250,273$ 0.08% 200 U.S. Treasury Bill 7/19/2021 7/14/2022 235,000$ 234,836$ 234,836$ 0.07% 165 Subtotal 860,000$ 862,412$ 860,047$ 0.09% 752$ Cash Equivalents LAIF - improvement fund 391,015$ 391,015$ 391,015$ 0.20% 782 Bank of New York-Improvement fd 4,469$ 4,469 4,469 0.01% 0 Subtotal 395,484$ 395,484$ 395,484$ 0.20% 782$ Total 1,255,484$ 1,257,896$ 1,255,531$ 0.12% 1,534$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) October 31, 2021 Page 9