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Home My WebLink About041922-06.3 ADMINISTRATIVE STAFF REPORT 6.3 TO: Mayor and Town Council April 19, 2022 SUBJECT: February 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 February 2022: January February January February 31, 2022 28, 2022 31, 2022 28, 2022 Town Funds $99,528,885 $98,508,267 $98,998,506 $97,599,450 Trust Funds 2,319,916 2,272,354 2,319,916 2,272,354 Assessment & SA 1,744,829 2,069,082 1,743,821 2,067,915 Total Cash & Investments $103,593,630 $102,849,703 $103,062,243 $101,939,719 Total Cash & Investments Year-to-Year Comparison 2022 $89,783,437 $88,597,931 $91,444,024 $90,042,799 Cost Basis Market Value Purchases for the month of February 2022 consisted of one U.S. Treasury Note for $990,820 (maturity date February 28, 2025), one State Street Bank Callable Note Cont. for $265,000 (maturity date February 6, 2026), and one FFCB for $748,365 (maturity date February 14, 2025), one Honda Auto Receivables Trust 2022-1 A3 for $424,936 (maturity date May 15, 2026), one FFCB for $748,057 (maturity date February 14, 2025). There were no purchases for the NERIAD Fund for the month of February 2022. Maturities for the month of February 2022 consisted of one U.S. Treasury Note for $1,269,227. February 2022 Treasurer’s Report 2 April 19, 2022 Sales before maturities for the month of February 2022 included one U.S. Treasury Note for $1,244,580, one Honda Auto Receivables Trust 2019-3 A-3 for $30,161, one John Deere Owner Trust 2019-B A3 for $20,132, one John Deere Owner Trust 2020-A A3 for $28,356, one Nissan Auto Receivables Owner 2019-C A3 for $31,487. There were no maturities for the NERIAD Fund for the month of February 2022. The Town’s net cash position changed from $15,541,062 to $14,491,512 during the month of February 2022. This consisted of operating expenses in excess of operating revenues of -$652,092 net fund invested of $553,235, premium/discount recognition of $40,215 and interest received of $115,562. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the February 2022 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: February 2022 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary February 28, 2022 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 27,650,000$ 27,565,600$ 27,119,154$ 28%0.94% Federal Agency Issues 31,835,000 31,972,988 31,700,423 32%1.10% Cash Equivalents 18,814,741 18,814,741 18,814,741 19%0.21% Asset-Backed Securities 4,184,412 4,183,970 4,132,368 4%0.91% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 3,705,000 3,686,510 3,656,852 4%1.21% US Corporate 12,215,000 12,284,458 12,175,912 12%1.75% Total / Weighted Average 98,404,153$ 98,508,267$ 97,599,450$ 100%0.96% Maturities 0 - 30 Days 18,814,678$ 19% 31-60 1,101,819 1% 61 - 90 1,004,799 1% 91 - 120 1,703,946 2% 121 - 180 0% 181 - 270 4,184,637 4% 271 - 365 6,819,643 7% 1 - 2 Years 31,095,553 32% 2 - 3 23,531,388 24% 3 - 5 9,342,987 10% Over 5 Years 0% 97,599,450$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary February 28, 2022 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 2,272,354$ 2,272,354$ 2,272,354$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 822,003$ 822,003$ 822,003$ 100% Total 822,003$ 822,003$ 822,003$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 860,000 860,136 858,969 69% Cash Equivalents 386,943 386,943 386,943 31% Subtotal 1,246,943$ 1,247,079$ 1,245,912$ 100% Total 1,246,943$ 1,247,079$ 1,245,912$ 100% SUMMARY TOTAL Town Funds 98,404,153$ 98,508,267$ 97,599,450$ Trust Fund 2,272,354 2,272,354 2,272,354 CDA/Successor Agency 822,003 822,003 822,003 NERIAD 1,246,943 1,247,079 1,245,912 Summary Total 102,745,452$ 102,849,703$ 101,939,719$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 99,528,885$ 2,319,916$ 497,762$ 1,247,067$ 103,593,630$ Purchases, at cost US Treasury Note 990,820$ 990,820 State Street Bank Callable Note Cont 265,000$ 265,000 FFCB 748,365$ 748,365 Honda Auto Receivalbes Trust 2022-1 A3 424,936$ 424,936 FFCB 748,057$ 748,057 Sales/Maturations/Call - - US Treasury Note (1,269,227)$ (1,269,227) US Treasury Note (1,244,580)$ (1,244,580) US Treasury Note -$ - -$ - - - -$ - Redemption (110,136)$ (110,136) Premium/Discount 40,215$ - - 40,215 Interest Received 115,562$ - - 830 116,392 Net change in Cash (1,729,630)$ (47,562) 324,241 (818)(1,453,769) Realized gains (losses)- Ending Balance, at cost 98,508,267$ 2,272,354$ 822,003$ 1,247,079$ 102,849,703 February 28, 2022 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 475,000 473,418 478,052 2.84%13,490 FHLB Note 07/17/2018 06/10/2022 1,000,000 996,850 1,006,608 2.84%28,400 FHLB Note 11/05/2018 09/09/2022 1,000,000 1,000,830 1,013,227 3.10%31,000 FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,506,399 1.64%24,600 FHLB Note 12/20/2018 12/09/2022 1,700,000 1,714,756 1,728,543 2.77%47,090 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,516,934 2.46%36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 915,790 2.24%20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,442 1,317,753 0.39%5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,409,087 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,481,780 0.33%4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,515,831 2.00%30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,189 1,288,430 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 551,361 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 888,078 0.28%2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,479,322 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,477,449 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 875,913 0.26%2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 590,427 0.26%1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,427,886 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,470,104 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,470,118 0.26%3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,733,567 0.82%13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,512,615 0.85%12,750 FFCB Note 01/06/2022 01/06/2025 595,000 593,661 586,634 1.20%7,140 FFCB Note 02/17/2022 02/14/2025 750,000 748,365 752,281 1.75%13,095 FFCB Note 02/28/2022 02/14/2025 750,000 748,057 751,971 1.75%13,125 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 954,263 1.17%11,700 Subtotal 31,835,000$ 31,972,988$ 31,700,423$ 1.10%350,418$ U.S. Treasury Obligations February 28, 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 February 28, 2022 U.S. Treasury Notes 02/08/2018 02/28/2022 0 0 0 2.49%0 U.S. Treasury Notes 10/04/2018 08/31/2022 900,000 862,488 905,238 3.01%27,090 U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 957,756 2.28%21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,507,909 1.87%28,050 U.S. Treasury Notes 04/11/2019 05/31/2023 1,500,000 1,460,156 1,508,321 2.30%34,500 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,506,270 1.78%26,700 U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 733,125 0.22%1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,352 976,797 0.36%3,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,215,966 0.36%4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,456,992 0.33%4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,649 1,459,571 0.38%5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 992,578 0.26%2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,266 1,358,493 0.44%6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,347,100 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,466,367 0.80%12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,636 836,121 1.39%11,815 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,490,038 0.40%6,000 U.S. Treasury Notes 02/04/2022 02/28/2025 1,000,000 990,820 985,586 1.43%14,300 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,304,122 0.66%8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 960,820 0.33%3,300 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,360 1,433,028 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,430,976 0.56%8,400 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,285,980 1.06%14,310 Subtotal 27,650,000$ 27,565,600$ 27,119,154$ 0.94%260,220$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)462,016 462,016 462,016 0.01%46 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)347,532 347,532 347,532 0.01%35 Bank of New York 2,075,647 2,075,647 2,075,647 0.01%208 US Bank 1,438,034 1,438,034 1,438,034 0.00%24 LAIF 14,491,512 14,491,512 14,491,512 0.28%40,286 Subtotal 18,814,741$ 18,814,741$ 18,814,741$ 0.21%40,599 Asset-Backed Securities Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 218,683 218,682 219,287 1.79%3,914 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 84,554 84,536 84,940 2.23%1,886 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 306,490 306,474 307,862 1.94%5,946 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 269,685 269,669 269,641 1.11%2,994 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 354,108 0.40%1,440 BMW Vehicle Lease Trust 2022-1-A3 01/11/2022 03/25/2025 255,000 254,962 253,059 1.11%2,831 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 250,515 0.37%944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 1,002,331 0.26%2,665 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 255,844 0.89%2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 301,847 0.52%1,612 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 239,708 0.71%1,740 Honda Auto Receivables Trust 2022-1 A3 02/17/2022 05/15/2026 425,000 424,936 424,936 1.88%7,990 GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 170,000 169,985 168,290 1.27%2,159 Subtotal 4,184,412$ 4,183,970$ 4,132,368$ 0.91%38,433$ 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 February 28, 2022 Supranational Inter-American Dev Bank Note 09/13/2018 04/14/2022 1,100,000 1,054,218 1,101,819 2.99%32,890 Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 348,032 0.32%1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,215,849 0.52%6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 991,152 0.46%4,600 Subtotal 3,705,000$ 3,686,510$ 3,656,852$ 1.21%45,126$ US Corporate Berkshire Hathaway Note 03/16/2018 05/15/2022 1,000,000 1,000,670 1,004,799 2.98%29,800 Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 503,039 2.04%10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 256,734 2.28%5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 1,012,235 3.22%32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 759,703 2.77%20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 759,532 2.37%17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 759,607 2.54%19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 820,045 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 980,299 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 601,535 0.47%2,891 Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 978,904 0.92%9,200 Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 559,045 0.50%2,850 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 417,415 0.94%4,042 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 879,072 0.50%4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 524,013 0.49%2,646 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 726,140 0.74%5,550 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 371,724 0.52%2,002 State Street Bank Callable Note Cont 02/06/2025 02/06/2026 265,000 265,000 262,071 1.77%4,691 Subtotal 12,215,000$ 12,284,458$ 12,175,912$ 1.75%213,995$ TOTAL 98,404,153$ 98,508,267$ 97,599,450$ 0.96%948,791$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail February 28, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 2,272,354$ 2,272,354$ 2,272,354$ 0.28%6,317 TOTAL 2,272,354$ 2,272,354$ 2,272,354$ 0.28% $6,317 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail February 28, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 138,716$ 138,716$ 138,716$ 0.28%386 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)374,976$ 374,976 374,976 0.01%37 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)-$ 0 0 0.01%0 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)308,311$ 308,311 308,311 0.01%31 Subtotal 822,003$ 822,003$ 822,003$ 0.06%454$ TOTAL 822,003$ 822,003$ 822,003$ 0.06%454$ 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$ 250,039$ 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$ 124,453$ 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$ 858,969$ 0.07%640$ Cash Equivalents LAIF - improvement fund 380,872$ 380,872$ 380,872$ 0.28%1,059 Bank of New York-Improvement fd 6,071$ 6,071 6,071 0.01%1 Subtotal 386,943$ 386,943$ 386,943$ 0.27%1,059$ Total 1,246,943$ 1,247,079$ 1,245,912$ 0.14%1,699$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) February 28, 2022 Page 9