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Home My WebLink About021522-06.3 ADMINISTRATIVE STAFF REPORT 6.3 TO: Mayor and Town Council February 15, 2022 SUBJECT: December 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 December 2021: November December November December 30, 2021 31, 2021 30, 2021 31, 2021 Town Funds $91,338,165 $97,862,351 $91,623,083 $97,903,281 Trust Funds 2,320,252 2,295,196 2,320,252 2,295,196 Assessment & SA 1,675,965 1,663,655 1,675,453 1,663,062 Total Cash & Investments $95,334,382 $101,821,202 $95,618,788 $101,861,539 Total Cash & Investments Year-to-Year Comparison 2020 $79,729,736 $84,650,018 $81,473,834 $86,381,101 Cost Basis Market Value Purchases for the month of December 2021 consisted of one U.S. Treasury Note for $1,310,871 (maturity date July 31, 2025), one Amazon.com Inc. Note for $424,973 (maturity date May 12, 2024), and one Federal Mortgage Association Note for $971,060 (maturity date August 25, 2025). There were no purchases for the NERIAD Fund for the month of December 2021. Maturities for the month of December 2021 consisted of one Federal Home Loan Bank Note for $989,100. December 2021 Treasurer’s Report 2 February 15, 2022 Sales before maturities for the month of December 2021 included one Federal Home Loan Bank Note for $1,235,000, one Honda Auto Receivables Trust 2019-3 A-3 for $32,708, one John Deere Owner Trust 2019-B A3 for $9,877, one John Deere Owner Trust 2020-A A3 for $22,506, one Nissan Auto Receivables Owner 2019-C A3 for $33,274. There were no maturities for the NERIAD Fund for the month of December 2021. The Town’s net cash position changed from $12,932,904 to $16,357,895 during the month of December 2021. This consisted of operating revenue in excess of operating expenses of $3,657,501 net funds invested of $384,439, premium/discount recognition of $12,949 and interest received of $127,656. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the December 2021 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: December 2021 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary December 31, 2021 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 28,350,000$ 28,247,949$ 28,231,052$ 29%1.00% Federal Agency Issues 31,140,000 31,288,323 31,296,744 32%1.09% Cash Equivalents 19,072,644 19,072,644 19,072,644 19%0.18% Asset-Backed Securities 3,547,808 3,547,467 3,533,987 4%0.82% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 3,705,000 3,686,510 3,700,128 4%1.21% US Corporate 11,950,000 12,019,458 12,068,726 12%1.75% Total / Weighted Average 97,765,452$ 97,862,351$ 97,903,281$ 100%0.96% Maturities 0 - 30 Days 20,472,799$ 21% 31-60 1,303,659 1% 61 - 90 1,255,327 1% 91 - 120 1,104,752 1% 121 - 180 2,783,366 3% 181 - 270 2,693,222 3% 271 - 365 5,752,644 6% 1 - 2 Years 30,589,005 31% 2 - 3 22,183,218 23% 3 - 5 9,765,289 10% Over 5 Years 0% 97,903,281$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary December 31, 2021 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 2,295,196$ 2,295,196$ 2,295,196$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 416,588$ 416,588$ 416,588$ 100% Total 416,588$ 416,588$ 416,588$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 860,000 860,136 859,543 69% Cash Equivalents 386,931 386,931 386,931 31% Subtotal 1,246,931$ 1,247,067$ 1,246,474$ 100% Total 1,246,931$ 1,247,067$ 1,246,474$ 100% SUMMARY TOTAL Town Funds 97,765,452$ 97,862,351$ 97,903,281$ Trust Fund 2,295,196 2,295,196 2,295,196 CDA/Successor Agency 416,588 416,588 416,588 NERIAD 1,246,931 1,247,067 1,246,474 Summary Total 101,724,168$ 101,821,202$ 101,861,539$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 91,338,165$ 2,320,252$ 418,869$ 1,257,096$ 95,334,383$ Purchases, at cost US Treasury Note 1,310,871$ 1,310,871 Amazon.com Inc Note 424,973$ 424,973 FNMA 971,060$ 971,060 -$ - Sales/Maturations/Call - - FHLB (1,235,000)$ (1,235,000) FHLB (989,100)$ (989,100) US Treasury Note - -$ - - - -$ - Redemption (98,365)$ (98,365) Premium/Discount 53,793$ - - 53,793 Interest Received 127,656$ - - 189 127,845 Net change in Cash 5,958,298$ (25,055) (2,281) (10,218)5,920,744 Realized gains (losses)- Ending Balance, at cost 97,862,351$ 2,295,196$ 416,588$ 1,247,067$ 101,821,202 December 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 FNMA Note 09/27/2017 01/05/2022 1,400,000 1,405,418 1,400,150 1.90%26,600 FHLB Note 06/12/2018 06/10/2022 475,000 473,418 480,378 2.84%13,490 FHLB Note 07/17/2018 06/10/2022 1,000,000 996,850 1,011,506 2.84%28,400 FHLB Note 11/05/2018 09/09/2022 1,000,000 1,000,830 1,019,465 3.10%31,000 FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,514,610 1.64%24,600 FHLB Note 12/20/2018 12/09/2022 1,700,000 1,714,756 1,741,648 2.77%47,090 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,530,809 2.46%36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 923,774 2.24%20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,441 1,327,125 0.39%5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,419,126 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,494,807 0.33%4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,532,787 2.00%30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,190 1,298,830 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 556,239 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 895,936 0.28%2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,495,593 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,490,406 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 884,092 0.26%2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 595,940 0.26%1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,442,276 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,487,016 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,485,983 0.26%3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,760,486 0.82%13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,534,872 0.85%12,750 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 972,891 0.85%8,500 Subtotal 31,140,000$ 31,288,323$ 31,296,744$ 1.09%340,458$ December 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 December 31, 2021 U.S. Treasury Obligations U.S. Treasury Notes 02/08/2018 02/28/2022 1,300,000 1,269,227 1,303,659 2.49%32,370 U.S. Treasury Notes 10/24/2017 03/31/2022 1,250,000 1,244,580 1,255,327 1.98%24,750 U.S. Treasury Notes 10/04/2018 08/31/2022 900,000 862,488 909,422 3.01%27,090 U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 963,767 2.28%21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,521,679 1.87%28,050 U.S. Treasury Notes 04/11/2019 05/31/2023 1,500,000 1,460,156 1,522,675 2.30%34,500 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,525,371 1.78%26,700 U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 741,475 0.22%1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,352 990,156 0.36%3,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,233,203 0.36%4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,478,204 0.33%4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,648 1,481,778 0.38%5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 1,009,414 0.26%2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,265 1,380,532 0.44%6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,371,462 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,491,914 0.80%12,000 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,517,520 0.40%6,000 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,328,010 0.66%8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 978,125 0.33%3,300 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,360 1,459,571 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,457,813 0.56%8,400 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,309,975 0.56%7,560 Subtotal 28,350,000$ 28,247,949$ 28,231,052$ 1.00%284,475$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)462,006 462,006 462,006 0.01%46 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)347,523 347,523 347,523 0.01%35 Bank of New York 776,650 776,650 776,650 0.01%78 US Bank 1,128,570 1,128,570 1,128,570 0.00%19 LAIF 16,357,895 16,357,895 16,357,895 0.21%34,679 Subtotal 19,072,644$ 19,072,644$ 19,072,644$ 0.18%34,856 Asset-Backed Securities Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 280,490 280,488 282,091 1.79%5,021 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 119,265 119,239 120,050 2.23%2,660 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 371,136 371,117 374,132 1.94%7,200 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 321,917 321,897 323,049 1.11%3,573 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 357,285 0.40%1,440 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 252,937 0.37%944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 1,015,108 0.26%2,665 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 259,373 0.89%2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 306,468 0.52%1,612 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 243,494 0.71%1,740 Subtotal 3,547,808$ 3,547,467$ 3,533,987$ 0.82%29,168$ 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 December 31, 2021 Supranational Inter-American Dev Bank Note 09/13/2018 04/14/2022 1,100,000 1,054,218 1,104,752 2.99%32,890 Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 351,789 0.32%1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,233,438 0.52%6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 1,010,149 0.46%4,600 Subtotal 3,705,000$ 3,686,510$ 3,700,128$ 1.21%45,126$ US Corporate Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 506,103 2.04%10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 258,232 2.28%5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 1,022,500 3.22%32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 766,023 2.77%20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 766,596 2.37%17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 767,948 2.54%19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 832,268 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 997,281 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 609,152 0.47%2,891 Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 995,709 0.92%9,200 Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 567,016 0.50%2,850 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 423,366 0.94%4,042 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 893,960 0.50%4,525 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 378,404 0.52%2,002 Subtotal 11,950,000$ 12,019,458$ 12,068,726$ 1.75%209,305$ TOTAL 97,765,452$ 97,862,351$ 97,903,281$ 0.96%943,387$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail December 31, 2021 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 2,295,196$ 2,295,196$ 2,295,196$ 0.21%4,866 TOTAL 2,295,196$ 2,295,196$ 2,295,196$ 0.21% $4,866 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail December 31, 2021 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 41,613$ 41,613$ 41,613$ 0.21%88 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)374,968$ 374,968 374,968 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 416,588$ 416,588$ 416,588$ 0.03%126$ TOTAL 416,588$ 416,588$ 416,588$ 0.03%126$ 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$ 250,169$ 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$ 859,543$ 0.07%640$ Cash Equivalents LAIF - improvement fund 380,861$ 380,861$ 380,861$ 0.21%807 Bank of New York-Improvement fd 6,070$ 6,070 6,070 0.01%1 Subtotal 386,931$ 386,931$ 386,931$ 0.21%808$ Total 1,246,931$ 1,247,067$ 1,246,474$ 0.12%1,448$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) December 31, 2021 Page 9