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Home My WebLink About011122-05.3 ADMINISTRATIVE STAFF REPORT 5.3 TO: Mayor and Town Council January 11, 2022 SUBJECT: November 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 November 2021: October November October November 31, 2021 30, 2021 31, 2021 30, 2021 Town Funds $90,754,164 $91,338,165 $91,157,802 $91,623,083 Trust Funds 2,284,899 2,320,252 2,284,899 2,320,252 Assessment & SA 1,676,761 1,675,965 1,674,396 1,675,453 Total Cash & Investments $94,715,824 $95,334,382 $95,117,097 $95,618,788 Total Cash & Investments Year-to-Year Comparison 2020 $79,765,269 $79,729,736 $81,568,896 $81,473,834 Cost Basis Market Value Purchases for the month of November 2021 consisted of one Toyota Auto Receivables Trust 2021-D A3 for $244,995 (maturity date April 15, 2026), one U.S. Treasury Note for $1,497,832 (maturity date November 15, 2024), one Charles Schwab Corp Callable Note Cont for $996,020 (maturity date March 18, 2024), and one Honda Auto Receivables Trust 2021-4 A3 (maturity date January 21, 2026). Purchases for the NERIAD Fund for the month of November 2021 consisted of one U.S. Treasury Bill for $249,641 (maturity date November 3, 2022), and one U.S. Treasury Note for $124,917 (maturity date October 31, 2022). Maturities for the month of November 2021 consisted of one Federal Farm Credit Bank System Note for $1,607,984. November 2021 Treasurer’s Report 2 January 11, 2022 Sales before maturities for the month of November 2021 included one Federal National Mortgage Association Note for $822,129, one Federal National Mortgage Association Note for $695,149, one Honda Auto Receivables Trust 2019-3 A-3 for $33,234, one John Deere Owner Trust 2019-B A3 for $16,723, one John Deere Owner Trust 2020-A A3 for $25,577, one Nissan Auto Receivables Owner 2019-C A3 for $33,132, and one Honda Auto Receivables Trust 2018-3 A3 for $9,410. Maturities for the NERIAD Fund for the month of November 2021 included one U.S. Treasury Bill for $249,759, and one U.S. Treasury Note for $127,075. The Town’s net cash position changed from $12,104,365 to $12,932,904 during the month of November 2021. This consisted of operating expenses in excess of operating revenues of $432,064 net funds invested of -$244,546, premium/discount recognition of $12,949 and interest received of $138,980. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the November 2021 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: November 2021 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary November 30, 2021 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 27,000,000$ 26,937,078$ 27,006,098$ 29% 1.02% Federal Agency Issues 32,390,000 32,541,363 32,678,472 36% 1.19% Cash Equivalents 12,932,904 12,932,904 12,932,904 14% 0.15% Asset-Backed Securities 3,646,173 3,645,826 3,637,771 4% 0.84% Commercial Paper 0 0 0 0% 0.00% Negotiable CD 0 0 0 0% 0.00% Supranational 3,705,000 3,686,510 3,711,420 4% 1.21% US Corporate 11,520,000 11,594,484 11,656,418 13% 1.78% Total / Weighted Average 91,194,077$ 91,338,165$ 91,623,083$ 100%1.06% Maturities 0 - 30 Days 13,966,744$ 15% 31-60 1,402,520 2% 61 - 90 1,305,795 1% 91 - 120 0 0% 121 - 180 3,690,741 4% 181 - 270 1,495,376 2% 271 - 365 5,180,741 6% 1 - 2 Years 34,019,605 37% 2 - 3 24,798,887 27% 3 - 5 5,762,674 6% Over 5 Years 0% 91,623,083$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary November 30, 2021 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 2,320,252$ 2,320,252$ 2,320,252$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 418,869$ 418,869$ 418,869$ 100% Total 418,869$ 418,869$ 418,869$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 860,000 860,136 859,624 68% Cash Equivalents 396,960 396,960 396,960 32% Subtotal 1,256,960$ 1,257,096$ 1,256,584$ 100% Total 1,256,960$ 1,257,096$ 1,256,584$ 100% SUMMARY TOTAL Town Funds 91,194,077$ 91,338,165$ 91,623,083$ Trust Fund 2,320,252 2,320,252 2,320,252 CDA/Successor Agency 418,869 418,869 418,869 NERIAD 1,256,960 1,257,096 1,256,584 Summary Total 95,190,159$ 95,334,382$ 95,618,788$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 90,754,164$ 2,284,899$ 418,865$ 1,257,896$ 94,715,824$ Purchases, at cost Toyota Auto Receivables Trust 2021-D A3 244,995$ 244,995 US Treasury Note 1,497,832$ 249,641 1,747,473 US Treasury Note -$ 124,917 124,917 Charles Schwab Corp Callable Note Cont 996,020$ 996,020 Honda Auto Receivables Trust 2021-4 A3 259,945$ 259,945 Sales/Maturations/Call - - Federal National Mortgage Association Note (822,129)$ (822,129) Federal National Mortgage Association Note (695,149)$ (695,149) Federal Farm Credit Bank System Note (1,607,984)$ - (1,607,984) US Treasury Note -$ - (249,759) (249,759) US Treasury Note (127,075) (127,075) Redemption (118,076)$ (118,076) Premium/Discount 12,949$ - - 12,949 Interest Received 138,980$ - - 644 139,624 Net change in Cash 676,618$ 35,353 4 832 712,807 Realized gains (losses) - Ending Balance, at cost 91,338,165$ 2,320,252$ 418,869$ 1,257,096$ 95,334,383 November 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 FHLB Note 12/15/2017 12/10/2021 1,000,000 989,100 1,000,467 2.16% 21,600 FNMA Note 09/27/2017 01/05/2022 1,400,000 1,405,418 1,402,520 1.90% 26,600 FHLB Note 06/12/2018 06/10/2022 475,000 473,418 481,503 2.84% 13,490 FHLB Note 07/17/2018 06/10/2022 1,000,000 996,850 1,013,873 2.84% 28,400 FHLB Note 11/05/2018 09/09/2022 1,000,000 1,000,830 1,022,709 3.10% 31,000 FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,515,436 1.64% 24,600 FHLB Note 08/27/2018 12/09/2022 1,250,000 1,235,000 1,278,015 2.80% 35,000 FHLB Note 12/20/2018 12/09/2022 1,700,000 1,714,756 1,747,843 2.77% 47,090 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,535,659 2.46% 36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 927,031 2.24% 20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,441 1,329,471 0.39% 5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,421,858 0.35% 4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,497,594 0.33% 4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,538,766 2.00% 30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,190 1,301,154 0.35% 4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 557,690 0.28% 1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 898,273 0.28% 2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,492,188 0.27% 4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,493,345 0.22% 3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 886,308 0.26% 2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 597,433 0.26% 1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,447,207 0.28% 4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,490,650 0.27% 4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,490,112 0.26% 3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,770,400 0.82% 13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,540,967 0.85% 12,750 Subtotal 32,390,000$ 32,541,363$ 32,678,472$ 1.19% 388,558$ November 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 November 30, 2021 U.S. Treasury Obligations U.S. Treasury Notes 02/08/2018 02/28/2022 1,300,000 1,269,227 1,305,795 2.49% 32,370 U.S. Treasury Notes 10/24/2017 03/31/2022 1,250,000 1,244,580 1,257,427 1.98% 24,750 U.S. Treasury Notes 10/04/2018 08/31/2022 900,000 862,488 911,602 3.01% 27,090 U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 966,625 2.28% 21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,527,012 1.87% 28,050 U.S. Treasury Notes 04/11/2019 05/31/2023 1,500,000 1,460,156 1,527,832 2.30% 34,500 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,532,050 1.78% 26,700 U.S. Treasury Notes 01/02/2021 12/15/2023 750,000 747,861 743,525 0.22% 1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,352 993,203 0.36% 3,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,236,719 0.36% 4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,482,539 0.33% 4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,648 1,486,407 0.38% 5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 1,013,359 0.26% 2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,265 1,384,907 0.44% 6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,377,000 0.45% 6,075 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,523,788 0.40% 6,000 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,497,422 0.80% 12,000 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,331,913 0.66% 8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 981,211 0.33% 3,300 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,360 1,463,554 0.53% 7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,462,208 0.56% 8,400 Subtotal 27,000,000$ 26,937,078$ 27,006,098$ 1.02% 276,915$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP) 462,002 462,002 462,002 0.01% 46 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP) 347,520 347,520 347,520 0.01% 35 Bank of New York 990,070 990,070 990,070 0.01% 99 US Bank 1,312,786 1,312,786 1,312,786 0.00% 22 LAIF 9,820,526 9,820,526 9,820,526 0.20% 19,936 Subtotal 12,932,904$ 12,932,904$ 12,932,904$ 0.15% 20,138 Asset-Backed Securities Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 313,198 313,195 315,128 1.79% 5,606 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 129,141 129,114 130,131 2.23% 2,880 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 404,411 404,389 408,046 1.94% 7,846 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 344,423 344,402 345,785 1.11% 3,823 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 357,628 0.40% 1,440 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 253,380 0.37% 944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 1,016,297 0.26% 2,665 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 260,020 0.89% 2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 307,259 0.52% 1,612 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 244,097 0.71% 1,740 Subtotal 3,646,173$ 3,645,826$ 3,637,771$ 0.84% 30,869$ 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 November 30, 2021 Supranational Inter-American Dev Bank Note 09/13/2018 04/14/2022 1,100,000 1,054,218 1,106,446 2.99% 32,890 Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 352,890 0.32% 1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,236,755 0.52% 6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 1,015,329 0.46% 4,600 Subtotal 3,705,000$ 3,686,510$ 3,711,420$ 1.21% 45,126$ US Corporate Berkshire Hathaway Note 03/16/2018 05/15/2022 1,000,000 1,000,670 1,011,739 2.98% 29,800 Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 506,017 2.04% 10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 258,351 2.28% 5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 1,022,750 3.22% 32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 766,789 2.77% 20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 769,217 2.37% 17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 768,334 2.54% 19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 834,352 2.54% 20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 1,000,640 2.07% 19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,563 609,763 0.47% 2,891 Charles Schwab Corp Callable Note Cont 11/17/2021 01/17/2024 1,000,000 996,020 996,086 0.92% 9,200 Amazon.comInc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 563,963 0.50% 2,850 CaterpillarFinancial Service Note 05/10/2021 05/17/2024 905,000 903,787 893,628 0.50% 4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 533,555 0.49% 2,646 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 741,256 0.74% 5,550 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 379,978 0.52% 2,002 Subtotal 11,520,000$ 11,594,484$ 11,656,418$ 1.78% 205,263$ TOTAL 91,194,077$ 91,338,165$ 91,623,083$ 1.06%966,868$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail November 30, 2021 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 2,320,252$ 2,320,252$ 2,320,252$ 0.20% 4,710 TOTAL 2,320,252$ 2,320,252$ 2,320,252$ 0.20% $4,710 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail November 30, 2021 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 43,897$ 43,897$ 43,897$ 0.20% 89 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs) 374,965$ 374,965 374,965 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 418,869$ 418,869$ 418,869$ 0.03% 127$ TOTAL 418,869$ 418,869$ 418,869$ 0.03%127$ 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 3/30/2021 3/31/2022 250,000$ 250,742$ 250,250$ 0.08% 200 U.S. Treasury Bill 7/19/2021 7/14/2022 235,000$ 234,836$ 234,836$ 0.07% 165 U.S. Treasury Note 10/31/2022 11/29/2021 125,000$ 124,917$ 124,897$ 0.08% 100 U.S. Treasury Bill 11/4/2021 11/3/2022 250,000$ 249,641$ 249,641$ 0.07% 175 Subtotal 860,000$ 860,136$ 859,624$ 0.07% 640$ Cash Equivalents LAIF - improvement fund 390,890$ 390,890$ 390,890$ 0.20% 794 Bank of New York-Improvement fd 6,070$ 6,070 6,070 0.01% 1 Subtotal 396,960$ 396,960$ 396,960$ 0.20% 794$ Total 1,256,960$ 1,257,096$ 1,256,584$ 0.11% 1,434$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) November 30, 2021 Page 9