HomeMy WebLinkAbout081622-09.03ADMINISTRATIVE STAFF REPORT 9.3
TO: Mayor and Town Council August 16, 2022
SUBJECT: June 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 June 2022:
May June May June
31, 2022 30, 2022 31, 2022 30, 2022
Town Funds $100,534,136 $103,676,913 $98,300,539 $100,944,656
Trust Funds 1,700,559 1,724,333 1,700,559 1,724,333
Assessment & SA 1,667,306 2,431,105 1,666,666 2,429,231
Total Cash & Investments $103,902,001 $107,832,351 $101,667,764 $105,098,220
Total Cash & Investments
Year-to-Year Comparison
2021 $95,807,550 $97,343,144 $97,081,155 $98,409,846
Cost Basis Market Value
Purchases for the month of June 2022 consisted of one US Treasury Note for $1,606,563
(maturity date October 31,2025), and one US Treasury Note for $1,655,840 (maturity date
November 15, 2025)
There were no purchases for the NERIAD Fund for the month of June 2022.
Maturities for the month of June 2022 consisted of one Federal Home Loan Bank Note for
$473,418, and one Federal Home Loan Bank Note for $996,850.
June 2022 Treasurer’s Report 2 August 16, 2022
Sales before maturities for the month of June 2022 included one Honda Auto Receivables
Trust 2019-3 A-3 for $25,229, and one John Deere Owner Trust 2019-B A3 for $6,936, one
John Deere Owner Trust 2020-A A3 for $16,306, one Nissan Auto Receivables Owner
2019-C A3 for $25,677.
There were no maturities for the NERIAD Fund for the month of June 2022.
The Town’s net cash position changed from $11,470,531 to $14,183,010 during the month
of June 2022. This consisted of operating revenues in excess of operating expenses of
$4,340,867 net fund invested of $1,717,987, premium/discount recognition of $4,736 and
interest received of $84,863.
Cash requirements have been projected for the next 12 months, and the Town is in a
position to meet its cash requirements.
All investments that the Town owns are in compliance with the California Government
Code and the Town’s Investment Policy.
PUBLIC CONTACT
Posting of the meeting agenda serves as notice to the general public.
RECOMMENDATION
Accept the June 2022 Month End Treasurer’s Report.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Joseph A. Calabrigo
Town Manager
Attachment: June 2022 Month End Treasurer’s Report
Town of Danville
Treasurer's Report of Investments - Summary
June 30, 2022
Yield to
Description Par Value Cost Market Value % Total Maturity
TOWN FUNDS
U.S. Treasury Obligations 34,950,000$ 34,745,814$ 33,534,122$ 33%1.34%
Federal Agency Issues 30,410,000 30,529,455 29,717,340 29%1.01%
Cash Equivalents 17,235,895 17,235,895 17,235,895 17%0.76%
Asset-Backed Securities 5,765,423 5,764,789 5,599,583 6%1.50%
Commercial Paper 0 0 0 0%0.00%
Negotiable CD 0 0 0 0%0.00%
Supranational 2,605,000 2,632,292 2,487,887 2%0.46%
US Corporate 12,715,000 12,768,668 12,369,829 12%1.69%
Total / Weighted Average 103,681,318$ 103,676,913$ 100,944,656$ 100%1.18%
Maturities
0 - 30 Days 17,235,796$ 17%
31-60 107,617 0%
61 - 90 2,402,095 2%
91 - 120 1,498,380 1%
121 - 180 1,203,364 1%
181 - 270 4,896,199 5%
271 - 365 9,985,546 10%
1 - 2 Years 27,887,985 28%
2 - 3 25,723,334 25%
3 - 5 10,004,340 10%
Over 5 Years 0 0%
100,944,656$ 100%
Total / Weighted Average
Town Funds Weighted Average Quality is AAA
Page 1
Town of Danville
Treasurer's Report of Investments - Summary
June 30, 2022
Description Par Value Cost Market Value % Total
TRUST FUND
Cash Equivalents 1,724,333$ 1,724,333$ 1,724,333$ 100%
CDA/SUCCESSOR AGENCY
Cash Equivalents 1,201,394$ 1,201,394$ 1,201,394$ 100%
Total 1,201,394$ 1,201,394$ 1,201,394$ 100%
ASSESSMENT DISTRICTS
NERIAD
Federal Agency Issues -$ -$ -$ 0%
U.S. Treasury Obligations 860,000 856,650 854,776 70%
Cash Equivalents 373,061 373,061 373,061 30%
Subtotal 1,233,061$ 1,229,711$ 1,227,837$ 100%
Total 1,233,061$ 1,229,711$ 1,227,837$ 100%
SUMMARY TOTAL
Town Funds 103,681,318$ 103,676,913$ 100,944,656$
Trust Fund 1,724,333 1,724,333 1,724,333
CDA/Successor Agency 1,201,394 1,201,394 1,201,394
NERIAD 1,233,061 1,229,711 1,227,837
Summary Total 107,840,106$ 107,832,351$ 105,098,220$
Page 2
Town of Danville
Treasurer's Report of Investments
CDA
Town Funds Trust Funds Successor Agency NERIAD Total
Beginning Balance, at cost 100,534,136$ 1,700,559$ 427,349$ 1,239,957$ 103,902,000$
Purchases, at cost
US Treasury Note 1,606,563$ 1,606,563
US Treasury Note 1,655,840$ 1,655,840
BMW Vehicle Owner Trust 2022-A A3 -$ -
US Treasury Note -$ -
GM Financial Securitized ART 2022-2 A3 -$ -
US Treasury Note -$ - - -
Sales/Maturations/Call - -
FHLB (473,418)$ (473,418)
FHLB (996,850)$ (996,850)
-$ - -
-
-$ -
Redemption (74,148)$ (74,148)
Premium/Discount 4,736$ - - 4,736
Interest Received 84,863$ - 50 308 85,222
Net change in Cash 1,335,191$ 23,774 773,995 (10,554)2,122,406
Realized gains (losses)-
Ending Balance, at cost 103,676,913$ 1,724,333$ 1,201,394$ 1,229,711$ 107,832,351
June 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 InterestFederal Agency Issues
FHLB Note 11/05/2018 09/09/2022 1,000,000 1,000,830 1,002,497 3.10%31,000
FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,498,380 1.64%24,600 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,499,130 2.46%36,900
FHLB Note 03/28/2019 03/10/2023 900,000 917,136 901,101 2.24%20,160
FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,442 1,302,158 0.39%5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,392,580 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,463,833 0.33%4,950
FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,487,772 2.00%30,000
FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,189 1,270,164 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 544,427 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 876,911 0.28%2,520
FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,455,681 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,455,420 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 862,922 0.26%2,314
FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 581,669 0.26%1,560
FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,404,356 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,446,178 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,444,434 0.26%3,900
FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,689,054 0.82%13,940
FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,473,226 0.85%12,750 FFCB Note 01/06/2022 01/06/2025 595,000 593,661 568,472 1.20%7,140
FFCB Note 02/17/2022 02/14/2025 750,000 748,365 726,160 1.83%13,725
FFCB Note 02/28/2022 02/14/2025 750,000 748,057 725,862 1.83%13,725 FFCB Note 03/14/2022 02/25/2025 750,000 743,441 728,878 2.06%15,450 FFCB Note 05/30/2022 05/09/2025 1,000,000 998,050 996,703 2.97%29,700
FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 919,372 1.17%11,700
Subtotal 30,410,000$ 30,529,455$ 29,717,340$ 1.01%307,818$
June 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
June 30, 2022
U.S. Treasury Obligations
U.S. Treasury Notes 10/04/2018 08/31/2022 900,000 862,488 900,441 3.01%27,090 U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 948,590 2.28%21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,484,708 1.87%28,050
U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,474,805 1.78%26,700
U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 720,146 0.22%1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,351 955,391 0.36%3,600
U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,189,014 0.36%4,500
U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,423,653 0.33%4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,649 1,424,063 0.38%5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 964,258 0.26%2,600
U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,266 1,322,563 0.44%6,160
U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,305,387 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,423,476 0.80%12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,636 810,189 1.39%11,815
U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,455,059 2.03%30,450 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,440,000 0.40%6,000 U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 952,734 1.43%14,300
U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,261,248 0.66%8,910
U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 962,496 0.33%3,300 U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 895,628 2.74%27,400 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,360 1,385,684 0.53%7,950
U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,382,579 0.56%8,400
U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,240,893 1.06%14,310 U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,454,825 2.96%44,400
U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,499,472 2.96%44,400
U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,562 1,599,187 2.87%45,920 U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,657,633 3.05%51,850Subtotal34,950,000$ 34,745,814$ 33,534,122$ 1.34%470,140$
Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)462,063 462,063 462,063 0.85%3,928
Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)347,587 347,587 347,587 0.85%2,954
Bank of New York 718,285 718,285 718,285 0.29%2,083 US Bank 1,524,949 1,524,949 1,524,949 0.00%25 LAIF 14,183,010 14,183,010 14,183,010 0.86%122,116
Subtotal 17,235,895$ 17,235,895$ 17,235,895$ 0.76%131,106
Asset-Backed Securities Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 107,722 107,721 107,617 1.79%1,928
John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 35,425 35,417 35,409 2.23%790 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 195,686 195,676 195,102 1.94%3,796 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 186,590 186,579 184,702 1.11%2,071
Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 348,524 0.40%1,440
BMW Vehicle Lease Trust 2022-1-A3 01/11/2022 03/25/2025 255,000 254,962 246,201 1.11%2,831 GM Financial Auto Lease Trust 2022-2 A3 05/30/2022 06/20/2025 450,000 449,953 447,702 3.45%15,525 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 245,184 0.37%944
Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 986,691 0.26%2,665
Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 247,971 0.89%2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 294,169 0.52%1,612
Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 233,442 0.71%1,740
Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 425,000 424,936 411,429 1.89%8,033 BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 300,000 299,984 296,875 3.23%9,690 John Deere Owner Trust 2022-A A3 03/10/2022 09/16/2026 330,000 329,927 321,594 2.34%7,722
Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 595,000 594,977 576,675 2.23%13,269
GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 170,000 169,985 162,651 1.27%2,159 GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 260,000 259,946 257,645 3.13%8,138
Subtotal 5,765,423$ 5,764,789$ 5,599,583$ 1.50%86,665$ 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
June 30, 2022
Supranational
Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 342,359 0.32%1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,182,200 0.52%6,500
International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 963,328 0.46%4,600
Subtotal 2,605,000$ 2,632,292$ 2,487,887$ 0.46%12,236$ US Corporate
Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 499,156 2.04%10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 254,774 2.28%5,814
Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 996,923 3.22%32,200
US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 749,791 2.77%20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 749,254 2.37%17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 746,479 2.54%19,050
Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 802,444 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 951,944 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 590,032 0.47%2,891
Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 959,814 0.92%9,200
Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 544,795 0.69%3,933 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 406,774 0.69%2,967 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 857,893 0.50%4,525
John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 510,524 0.49%2,646
Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 362,495 0.52%2,002 MasterCard Inc Callable Note 1x 02/25/2022 02/03/0225 1,000,000 999,010 965,140 2.03%20,300
Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 469,759 2.04%10,200
JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 701,458 0.79%5,925 State Street Bank Callable Note Cont 02/02/2025 02/06/2026 265,000 265,000 250,380 1.82%4,823Subtotal12,715,000$ 12,768,668$ 12,369,829$ 1.69%215,211$ TOTAL 103,681,318$ 103,676,913$ 100,944,656$ 1.18%1,223,176$
Source: Chandler Asset Management
US Bank
Local Agency Investment Fund (LAIF)
Page 6
Town of Danville
Treasurer's Report of Investments - Detail
June 30, 2022
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF 1,724,333$ 1,724,333$ 1,724,333$ 0.86%14,847
TOTAL 1,724,333$ 1,724,333$ 1,724,333$ 0.86% $14,847
Source:
Local Agency Investment Fund (LAIF)
Trust Fund
Page 7
Town of Danville
Treasurer's Report of Investments - Detail
June 30, 2022
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents LAIF - redemption fund 826,358$ 826,358$ 826,358$ 0.86%7,115 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)375,036$ 375,036 375,036 0.85%3,188
Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)0$ 0 0 0.85%0
Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)(0)$ (0)(0)0.85%(0)
Subtotal 1,201,394$ 1,201,394$ 1,201,394$ 0.86%10,303$
TOTAL 1,201,394$ 1,201,394$ 1,201,394$ 0.86%10,303$
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$ 124,176$ 0.20%250
U.S. Treasury Bill 11/4/2021 11/3/2022 250,000$ 249,641$ 249,641$ 0.14%350
U.S. Treasury Note 3/30/2022 3/15/2023 250,000$ 247,256$ 246,123$ 1.66%4,150
Subtotal 860,000$ 856,650$ 854,776$ 0.57%4,915$
Cash Equivalents
LAIF - improvement fund 363,751$ 363,751$ 363,751$ 0.86%3,132
Bank of New York-Improvement fd 9,310$ 9,310 9,310 0.29%27
Subtotal 373,061$ 373,061$ 373,061$ 0.85%3,159$
Total 1,233,061$ 1,229,711$ 1,227,837$ 0.65%8,073$
Source:
Chandler Asset Management
BNY Trust Company
Local Agency Investment Fund (LAIF)
Northeast Roadway Improvement Assessment District (NERIAD)
June 30, 2022
Page 9