The URL can be used to link to this page

Home My WebLink About031522-06.3 ADMINISTRATIVE STAFF REPORT 6.3 TO: Mayor and Town Council March 15, 2022 SUBJECT: January 2022 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 January 2022: December January December January 31, 2021 31, 2022 31, 2021 31, 2022 Town Funds $97,862,351 $99,528,885 $97,903,281 $98,998,506 Trust Funds 2,295,196 2,319,916 2,295,196 2,319,916 Assessment & SA 1,663,655 1,744,829 1,663,062 1,743,821 Total Cash & Investments $101,821,202 $103,593,630 $101,861,539 $103,062,243 Total Cash & Investments Year-to-Year Comparison 2021 and 2022 $84,650,018 $89,783,437 $86,381,101 $91,444,024 Cost Basis Market Value Purchases for the month of January 2022 consisted of one Federal Farm Credit Bank Note for $593,661 (maturity date January 6, 2025), one BMW Vehicle Lease Trust 2022-1 A3 for $254,962 (maturity date March 25, 2025), and one GM Financial Auto Receivables 2022-1 A3 for $169,985 (maturity date November 16, 2026), one U.S. Treasury Note for $840,637 (maturity date December 15, 2024). There were no purchases for the NERIAD Fund for the month of January 2022. Maturities for the month of January 2022 consisted of one Federal National Mortgage Association Note for $1,405,418. January 2022 Treasurer’s Report 2 March 15, 2022 Sales before maturities for the month of January 2022 included one Honda Auto Receivables Trust 2019-3 A-3 for $31,646, one John Deere Owner Trust 2019-B A3 for $14,579, one John Deere Owner Trust 2020-A A3 for $23,875, one Nissan Auto Receivables Owner 2019-C A3 for $33,160. There were no maturities for the NERIAD Fund for the month of January 2022. The Town’s net cash position changed from $16,357,895 to $15,541,062 during the month of January 2022. This consisted of operating expenses in excess of operating revenues of -$572,109 net fund invested of $350,567, premium/discount recognition of $5,411 and interest received of $100,432. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the January 2022 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: January 2022 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 97,862,351$ 2,295,196$ 416,588$ 1,247,067$ 101,821,202$ Purchases, at cost FFCB 593,661$ 593,661 BMW Vehicle Lease Trust 2022-1 A3 254,962$ 254,962 GM Financial Auto Receivables 2022-1 A3 169,985$ 169,985 US Treasury Note 840,637$ 840,637 Sales/Maturations/Call - - FNMA (1,405,418)$ (1,405,418) FHLB -$ - US Treasury Note - -$ - - - -$ - Redemption (103,260)$ (103,260) Premium/Discount 5,411$ - - 5,411 Interest Received 100,432$ - - 400 100,832 Net change in Cash 1,210,124$ 24,720 81,173 (400)1,315,617 Realized gains (losses)- Ending Balance, at cost 99,528,885$ 2,319,916$ 497,762$ 1,247,067$ 103,593,630 January 31, 2022 Page 1 Town of Danville Treasurer's Report of Investments - Summary January 31, 2022 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 29,200,000$ 29,088,586$ 28,828,351$ 29%1.03% Federal Agency Issues 30,335,000 30,476,566 30,304,072 31%1.06% Cash Equivalents 20,388,604 20,388,604 20,388,604 21%0.17% Asset-Backed Securities 3,869,549 3,869,161 3,836,836 4%0.83% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 3,705,000 3,686,510 3,672,663 4%1.21% US Corporate 11,950,000 12,019,458 11,967,980 12%1.75% Total / Weighted Average 99,448,153$ 99,528,885$ 98,998,506$ 100%0.96% Maturities 0 - 30 Days 21,690,359$ 22% 31-60 1,253,417 1% 61 - 90 1,103,191 1% 91 - 120 1,256,725 1% 121 - 180 1,487,809 2% 181 - 270 4,192,661 4% 271 - 365 6,864,211 7% 1 - 2 Years 29,530,423 30% 2 - 3 21,972,327 22% 3 - 5 9,647,383 10% Over 5 Years 0 0% 98,998,506$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 2 Town of Danville Treasurer's Report of Investments - Summary January 31, 2022 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 2,319,916$ 2,319,916$ 2,319,916$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 497,762$ 497,762$ 497,762$ 100% Total 497,762$ 497,762$ 497,762$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 860,000 860,136 859,128 69% Cash Equivalents 386,931 386,931 386,931 31% Subtotal 1,246,931$ 1,247,067$ 1,246,059$ 100% Total 1,246,931$ 1,247,067$ 1,246,059$ 100% SUMMARY TOTAL Town Funds 99,448,153$ 99,528,885$ 98,998,506$ Trust Fund 2,319,916 2,319,916 2,319,916 CDA/Successor Agency 497,762 497,762 497,762 NERIAD 1,246,931 1,247,067 1,246,059 Summary Total 103,512,762$ 103,593,630$ 103,062,243$ 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 06/12/2018 06/10/2022 475,000 473,418 479,066 2.84%13,490 FHLB Note 07/17/2018 06/10/2022 1,000,000 996,850 1,008,743 2.84%28,400 FHLB Note 11/05/2018 09/09/2022 1,000,000 1,000,830 1,015,372 3.10%31,000 FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,508,035 1.64%24,600 FHLB Note 12/20/2018 12/09/2022 1,700,000 1,714,756 1,732,973 2.77%47,090 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,522,626 2.46%36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 918,903 2.24%20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,442 1,321,266 0.39%5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,412,819 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,485,909 0.33%4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,522,938 2.00%30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,189 1,290,477 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 553,234 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 891,096 0.28%2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,483,533 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,480,897 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 878,859 0.26%2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 592,413 0.26%1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,432,883 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,476,536 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,475,427 0.26%3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,745,293 0.82%13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,521,368 0.85%12,750 FFCB Note 01/06/2022 01/06/2025 595,000 593,661 592,611 1.20%7,140 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 960,796 1.17%11,700 Subtotal 30,335,000$ 30,476,566$ 30,304,072$ 1.06%324,198$ U.S. Treasury Obligations January 31, 2022 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 January 31, 2022 U.S. Treasury Notes 02/08/2018 02/28/2022 1,300,000 1,269,227 1,301,756 2.49%32,370 U.S. Treasury Notes 10/24/2017 03/31/2022 1,250,000 1,244,580 1,253,417 1.98%24,750 U.S. Treasury Notes 10/04/2018 08/31/2022 900,000 862,488 906,961 3.01%27,090 U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 960,057 2.28%21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,513,242 1.87%28,050 U.S. Treasury Notes 04/11/2019 05/31/2023 1,500,000 1,460,156 1,513,711 2.30%34,500 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,513,653 1.78%26,700 U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 736,054 0.22%1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,352 981,719 0.36%3,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,222,216 0.36%4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,464,726 0.33%4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,649 1,467,597 0.38%5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 998,750 0.26%2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,265 1,366,641 0.44%6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,355,906 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,475,508 0.80%12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,636 841,500 1.39%11,815 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,499,649 0.40%6,000 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,312,189 0.66%8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 966,875 0.33%3,300 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,360 1,442,168 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,440,059 0.56%8,400 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,293,997 1.06%14,310 Subtotal 29,200,000$ 29,088,586$ 28,828,351$ 1.03%303,040$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)462,012 462,012 462,012 0.01%46 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)347,529 347,529 347,529 0.01%35 Bank of New York 524,026 524,026 524,026 0.01%52 US Bank 3,513,976 3,513,976 3,513,976 0.00%59 LAIF 15,541,062 15,541,062 15,541,062 0.23%36,366 Subtotal 20,388,604$ 20,388,604$ 20,388,604$ 0.17%36,558 Asset-Backed Securities Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 248,845 248,843 250,035 1.79%4,454 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 104,685 104,663 105,288 2.23%2,334 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 337,977 337,959 339,948 1.94%6,557 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 298,042 298,023 298,588 1.11%3,308 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 355,834 0.40%1,440 BMW Vehicle Lease Trust 2022-1-A3 01/11/2022 03/25/2025 255,000 254,962 254,207 1.11%2,831 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 251,713 0.37%944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 1,009,368 0.26%2,665 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 257,144 0.89%2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 303,848 0.52%1,612 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 241,731 0.71%1,740 GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 170,000 169,985 169,132 1.27%2,159 Subtotal 3,869,549$ 3,869,161$ 3,836,836$ 0.83%32,357$ 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 January 31, 2022 Supranational Inter-American Dev Bank Note 09/13/2018 04/14/2022 1,100,000 1,054,218 1,103,191 2.99%32,890 Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 349,292 0.32%1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,222,425 0.52%6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 997,755 0.46%4,600 Subtotal 3,705,000$ 3,686,510$ 3,672,663$ 1.21%45,126$ US Corporate Berkshire Hathaway Note 03/16/2018 05/15/2022 1,000,000 1,000,670 1,006,690 2.98%29,800 Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 504,766 2.04%10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 257,526 2.28%5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 1,016,031 3.22%32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 763,207 2.77%20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 764,029 2.37%17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 762,079 2.54%19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 824,547 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 986,564 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 604,434 0.47%2,891 Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 984,452 0.92%9,200 Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 559,516 0.50%2,850 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 417,767 0.94%4,042 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 883,553 0.50%4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 526,893 0.49%2,646 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 731,651 0.74%5,550 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 374,275 0.52%2,002 Subtotal 11,950,000$ 12,019,458$ 11,967,980$ 1.75%209,305$ TOTAL 99,448,153$ 99,528,885$ 98,998,506$ 0.96%950,584$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail January 31, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 2,319,916$ 2,319,916$ 2,319,916$ 0.23%5,429 TOTAL 2,319,916$ 2,319,916$ 2,319,916$ 0.23% $5,429 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail January 31, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 41,613$ 41,613$ 41,613$ 0.23%97 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)374,973$ 374,973 374,973 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)81,168$ 81,168 81,168 0.01%8 Subtotal 497,762$ 497,762$ 497,762$ 0.03%143$ TOTAL 497,762$ 497,762$ 497,762$ 0.03%143$ 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$ 250,086$ 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$ 124,565$ 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$ 859,128$ 0.07%640$ Cash Equivalents LAIF - improvement fund 380,861$ 380,861$ 380,861$ 0.23%891 Bank of New York-Improvement fd 6,070$ 6,070 6,070 0.01%1 Subtotal 386,931$ 386,931$ 386,931$ 0.23%892$ Total 1,246,931$ 1,247,067$ 1,246,059$ 0.12%1,531$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) January 31, 2022 Page 9