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Home My WebLink About062122-06.3 ADMINISTRATIVE STAFF REPORT 6.3 TO: Mayor and Town Council June 21, 2022 SUBJECT: April 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 April 2022: March April March April 31, 2022 30, 2022 31, 2022 30, 2022 Town Funds $97,710,251 $102,240,033 $95,696,507 $99,707,245 Trust Funds 2,303,977 1,694,208 2,303,977 1,694,208 Assessment & SA 1,677,147 1,677,152 1,676,526 1,675,946 Total Cash & Investments $101,691,375 $105,611,393 $99,677,010 $103,077,399 Total Cash & Investments Year-to-Year Comparison 2021 $88,623,859 $94,745,798 $89,924,459 $96,055,433 Cost Basis Market Value Purchases for the month of April 2022 consisted of one GM Financial Securitized ART 2022-2 A3 for $259,946 (maturity date February 16, 2027), one US Treasury Note for $1,502,109 (maturity date September 30, 2025), one US Treasury Note for $1,454,883 (maturity date August 15, 2025) and one US Treasury Note for $932,344 (maturity date April 30, 2025). There were no purchases for the NERIAD Fund for the month of April 2022. Maturities for the month of April 2022 consisted of one Inter-American Dev Bank Note for $1,054,218. April 2022 Treasurer’s Report 2 June 21, 2022 Sales before maturities for the month of April 2022 included one Honda Auto Receivables Trust 2019-3 A-3 for $30,326, one John Deere Owner Trust 2019-B A3 for $13,954, one John Deere Owner Trust 2020-A A3 for $20,435, and one Nissan Auto Receivables Owner 2019- C A3 for $31,372. There were no maturities for the NERIAD Fund for the month of April 2022. The Town’s net cash position changed from $13,143,187 to $13,067,032 during the month of April 2022. This consisted of operating expenses in excess of operating revenues of $2,839,698 net fund invested of $2,998,977, premium/discount recognition of $45,788 and interest received of $37,336. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the April 2022 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: April 2022 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary April 30, 2022 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 31,650,000$ 31,483,412$ 30,303,497$ 30%1.17% Federal Agency Issues 30,885,000 31,001,673 30,270,674 30%1.03% Cash Equivalents 18,168,804 18,168,804 18,168,804 18%0.37% Asset-Backed Securities 5,185,096 5,184,514 5,048,801 5%1.24% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 2,605,000 2,632,292 2,490,900 2%0.46% US Corporate 13,715,000 13,769,338 13,424,569 13%1.78% Total / Weighted Average 102,208,900$ 102,240,033$ 99,707,245$ 100%1.06% Maturities 0 - 30 Days 17,676,992$ 18% 31-60 1,478,298 1% 61 - 90 160,379 0% 91 - 120 0 0% 121 - 180 4,163,889 4% 181 - 270 4,967,660 5% 271 - 365 2,454,812 2% 1 - 2 Years 32,611,544 33% 2 - 3 25,020,965 25% 3 - 5 11,172,706 11% Over 5 Years 0% 99,707,245$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary April 30, 2022 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 1,694,208$ 1,694,208$ 1,694,208$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 430,431$ 430,431$ 430,431$ 100% Total 430,431$ 430,431$ 430,431$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 860,000 856,650 855,444 69% Cash Equivalents 390,071 390,071 390,071 31% Subtotal 1,250,071$ 1,246,721$ 1,245,515$ 100% Total 1,250,071$ 1,246,721$ 1,245,515$ 100% SUMMARY TOTAL Town Funds 102,208,900$ 102,240,033$ 99,707,245$ Trust Fund 1,694,208 1,694,208 1,694,208 CDA/Successor Agency 430,431 430,431 430,431 NERIAD 1,250,071 1,246,721 1,245,515 Summary Total 105,583,611$ 105,611,393$ 103,077,399$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 97,710,251$ 2,303,977$ 430,428$ 1,246,719$ 101,691,376$ Purchases, at cost GM Financial Securitized ART 2022-2 A3 259,946$ 259,946 US Treasury Note 1,502,109$ 1,502,109 US Treasury Note 1,454,883$ 1,454,883 US Treasury Note 932,344$ 932,344 -$ - US Treasury Note -$ - - - Sales/Maturations/Call - - Inter-American Dev Bank Note (1,054,218)$ (1,054,218) FHLB -$ - -$ - - - -$ - Redemption (96,087)$ (96,087) Premium/Discount 45,788$ - - 45,788 Interest Received 37,336$ - 3 820 38,160 Net change in Cash 1,447,681$ (609,768) 0 (818)837,095 Realized gains (losses)- Ending Balance, at cost 102,240,033$ 1,694,208$ 430,431$ 1,246,721$ 105,611,393 April 30, 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 475,000 473,418 476,004 2.84%13,490 FHLB Note 07/17/2018 06/10/2022 1,000,000 996,850 1,002,294 2.84%28,400 FHLB Note 11/05/2018 09/09/2022 1,000,000 1,000,830 1,006,641 3.10%31,000 FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,499,482 1.64%24,600 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,506,091 2.46%36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 905,487 2.24%20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,442 1,305,793 0.39%5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,395,696 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,467,549 0.33%4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,497,750 2.00%30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,189 1,274,511 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 545,556 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 878,728 0.28%2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,459,693 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,458,384 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 863,910 0.26%2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 582,336 0.26%1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,405,945 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,447,379 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,445,420 0.26%3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,696,479 0.82%13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,478,909 0.85%12,750 FFCB Note 01/06/2022 01/06/2025 595,000 593,661 568,664 1.20%7,140 FFCB Note 02/17/2022 02/14/2025 750,000 748,365 727,262 1.75%13,095 FFCB Note 02/28/2022 02/14/2025 750,000 748,057 726,963 1.75%13,125 FFCB Note 03/15/2022 02/25/2025 750,000 743,441 727,399 2.06%15,450 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 920,349 1.17%11,700 Subtotal 30,885,000$ 31,001,673$ 30,270,674$ 1.03%318,778$ April 30, 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 April 30, 2022 U.S. Treasury Obligations U.S. Treasury Notes 10/04/2018 08/31/2022 900,000 862,488 902,039 3.01%27,090 U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 952,190 2.28%21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,492,208 1.87%28,050 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,480,605 1.78%26,700 U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 721,025 0.22%1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,351 956,016 0.36%3,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,189,111 0.36%4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,423,067 0.33%4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,649 1,423,828 0.38%5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 965,156 0.26%2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,266 1,321,852 0.44%6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,306,758 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,423,359 0.80%12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,636 810,721 1.39%11,815 U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,457,520 2.03%30,450 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,441,289 0.40%6,000 U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 953,164 1.43%14,300 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,261,196 0.66%8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 962,092 0.33%3,300 U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 895,252 2.74%27,400 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,360 1,383,808 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,380,645 0.56%8,400 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,239,153 1.06%14,310 04/21/2022 08/15/2025 1,500,000 1,454,883 1,457,284 2.90%43,500 04/21/2022 09/30/2025 1,500,000 1,502,109 1,504,159 2.91%43,650 Subtotal 31,650,000$ 31,483,412$ 30,303,497$ 1.17%370,720$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)461,997 461,997 461,997 0.01%46 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)347,538 347,538 347,538 0.01%35 Bank of New York 2,896,664 2,896,664 2,896,664 0.01%290 US Bank 1,395,574 1,395,574 1,395,574 0.00%23 LAIF 13,067,032 13,067,032 13,067,032 0.52%68,341 Subtotal 18,168,804$ 18,168,804$ 18,168,804$ 0.37%68,734 Asset-Backed Securities Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 160,289 160,287 #160,379 1.79%2,869 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 57,006 56,994 57,117 2.23%1,271 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 247,972 247,959 247,942 1.94%4,811 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 229,829 229,815 228,699 1.11%2,551 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 349,508 0.40%1,440 BMW Vehicle Lease Trust 2022-1-A3 01/11/2022 03/25/2025 255,000 254,962 248,377 1.11%2,831 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 246,156 0.37%944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 988,372 0.26%2,665 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 250,160 0.89%2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 295,306 0.52%1,612 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 235,773 0.71%1,740 Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 425,000 424,936 413,322 1.89%8,033 John Deere Owner Trust 2022-A A3 03/10/2022 09/16/2026 330,000 329,927 322,670 2.34%7,722 Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 595,000 594,977 582,289 2.23%13,269 GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 170,000 169,985 163,320 1.27%2,159 GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 260,000 259,946 259,411 3.13%8,138 Subtotal 5,185,096$ 5,184,514$ 5,048,801$ 1.24%64,367$ 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 April 30, 2022 Supranational Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 342,181 0.32%1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,182,487 0.52%6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 966,232 0.46%4,600 Subtotal 2,605,000$ 2,632,292$ 2,490,900$ 0.46%12,236$ US Corporate Berkshire Hathaway Note 03/16/2018 05/15/2022 1,000,000 1,000,670 1,000,397 2.98%29,800 Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 500,320 2.04%10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 255,406 2.28%5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 1,002,401 3.22%32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 753,142 2.77%20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 753,835 2.37%17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 750,817 2.54%19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 808,846 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 957,340 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 590,902 0.47%2,891 Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 957,863 0.92%9,200 Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 546,751 0.69%3,933 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 408,236 0.69%2,967 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 859,715 0.50%4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 513,386 0.49%2,646 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 363,074 0.52%2,002 MasterCard Inc Callable Note 1x 02/25/2022 02/03/0225 1,000,000 999,010 972,176 2.03%20,300 Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 471,589 2.04%10,200 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 705,916 0.79%5,925 State Street Bank Callable Note Cont 02/02/2025 02/06/2026 265,000 265,000 252,457 1.82%4,823 Subtotal 13,715,000$ 13,769,338$ 13,424,569$ 1.78%245,011$ TOTAL 102,208,900$ 102,240,033$ 99,707,245$ 1.06%1,079,846$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail April 30, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 1,694,208$ 1,694,208$ 1,694,208$ 0.52%8,861 TOTAL 1,694,208$ 1,694,208$ 1,694,208$ 0.52% $8,861 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail April 30, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 55,449$ 55,449$ 55,449$ 0.52%290 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)374,982$ 374,982 374,982 0.01%37 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)0$ 0 0 0.01%0 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)(0)$ (0)(0)0.01%(0) Subtotal 430,431$ 430,431$ 430,431$ 0.08%327$ TOTAL 430,431$ 430,431$ 430,431$ 0.08%327$ 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 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$ 124,160$ 0.08%100 U.S. Treasury Bill 11/4/2021 11/3/2022 250,000$ 249,641$ 249,641$ 0.07%175 U.S. Treasury Note 3/30/2022 3/15/2023 250,000$ 247,256$ 246,807$ Subtotal 860,000$ 856,650$ 855,444$ 0.05%440$ Cash Equivalents LAIF - improvement fund 380,764$ 380,764$ 380,764$ 0.52%1,991 Bank of New York-Improvement fd 9,307$ 9,307 9,307 0.01%1 Subtotal 390,071$ 390,071$ 390,071$ 0.51%1,992$ Total 1,250,071$ 1,246,721$ 1,245,515$ 0.19%2,432$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) April 30, 2022 Page 9