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HomeMy WebLinkAbout092022-05.3 1 ADMINISTRATIVE STAFF REPORT 5.3 TO: Mayor and Town Council September 20, 2022 SUBJECT: July 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 July 2022: June July June July 30, 2022 31, 2022 30, 2022 31, 2022 Town Funds $103,676,913 $108,202,574 $100,944,656 $105,696,574 Trust Funds 1,724,333 1,116,959 1,724,333 1,116,959 Assessment & SA 2,431,105 2,178,290 2,429,231 2,177,269 Total Cash & Investments $107,832,351 $111,497,823 $105,098,220 $108,990,802 Total Cash & Investments Year-to-Year Comparison 2021 $97,343,144 $99,997,990 $98,409,846 $101,091,668 Cost Basis Market Value Purchases for the month of July 2022 consisted of one US Treasury Note for $1,079,031 (maturity date December 31,2025), one Federal Home Loan Note for $950,740 (maturity date December 20, 2024), and one US Treasury Note for $981,914 (maturity date April 30, 2024) Purchases for the NERIAD Fund consisted of one US Treasury Note for $242,998 (maturity date June 30,2023). There were no maturities for the month of July 2022. July 2022 Treasurer’s Report 2 September 20, 2022 Sales before maturities for the month of July 2022 included one US Treasury Note for $862,488, Honda Auto Receivable Trust 2019-3 A-3 for $24,682, John Deere Owner Trust 2019-B A3 for $6,042, John Deere Owner Trust 2020-A A3 for $16,126, Nissan Auto Receivables Owner 2019-C A3 for $24,598. Maturities for the NERIAD included one US Treasury Note for $234,836 The Town’s net cash position changed from $14,183,010 to $14,363,675 during the month of July 2022. This consisted of operating revenues in excess of operating expenses of $2,105,992 net fund invested of $2,077,749, premium/discount recognition of $37,926 and interest received of $114,495. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the July 2022 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: July 2022 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 103,676,913$ 1,724,333$ 1,201,394$ 1,229,711$ 107,832,351$ Purchases, at cost US Treasury Note 1,079,031$ 1,079,031 FHLB Note 950,740$ 950,740 US Treasury Note 981,914$ 981,914 US Treasury Note -$ 242,998 242,998 GM Financial Securitized ART 2022-2 A3 -$ - US Treasury Note -$ - - - Sales/Maturations/Call - - US Treasury Note (862,488)$ (234,836)(1,097,324) FHLB -$ - -$ - - - -$ - Redemption (71,448)$ (71,448) Premium/Discount 37,926$ - - 37,926 Interest Received 114,495$ - 50 452 114,998 Net change in Cash 2,295,491$ (607,374) (289,065) 27,586 1,426,637 Realized gains (losses)- Ending Balance, at cost 108,202,574$ 1,116,959$ 912,379$ 1,265,911$ 111,497,823 July 31, 2022 Page 1 Town of Danville Treasurer's Report of Investments - Summary July 31, 2022 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 36,150,000$ 35,944,271$ 34,848,687$ 33%1.40% Federal Agency Issues 31,410,000 31,480,195 30,704,790 29%1.08% Cash Equivalents 19,683,803 19,683,803 19,683,803 19%1.08% Asset-Backed Securities 5,693,975 5,693,345 5,542,761 5%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 2,497,399 2%0.46% US Corporate 12,715,000 12,768,668 12,419,134 12%1.73% Total / Weighted Average 108,257,778$ 108,202,574$ 105,696,574$ 100%1.27% Maturities 0 - 30 Days 19,683,803$ 19% 31-60 1,582,703 1% 61 - 90 1,497,110 1% 91 - 120 0 0% 121 - 180 4,447,024 4% 181 - 270 1,677,582 2% 271 - 365 11,729,875 11% 1 - 2 Years 28,712,866 27% 2 - 3 26,592,268 25% 3 - 5 9,773,343 9% Over 5 Years 0 0% 105,696,574$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 2 Town of Danville Treasurer's Report of Investments - Summary July 31, 2022 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 1,116,959$ 1,116,959$ 1,116,959$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 912,379$ 912,379$ 912,379$ 100% Total 912,379$ 912,379$ 912,379$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 875,000 864,812 863,791 68% Cash Equivalents 401,099 401,099 401,099 32% Subtotal 1,276,099$ 1,265,911$ 1,264,890$ 100% Total 1,276,099$ 1,265,911$ 1,264,890$ 100% SUMMARY TOTAL Town Funds 108,257,778$ 108,202,574$ 105,696,574$ Trust Fund 1,116,959 1,116,959 1,116,959 CDA/Successor Agency 912,379 912,379 912,379 NERIAD 1,276,099 1,265,911 1,264,890 Summary Total 111,563,215$ 111,497,823$ 108,990,802$ 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 11/05/2018 09/09/2022 1,000,000 1,000,830 1,000,797 3.10%31,000 FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,497,110 1.64%24,600 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,495,906 2.46%36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 898,952 2.24%20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,442 1,303,530 0.39%5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,393,856 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,466,583 0.33%4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,488,983 2.00%30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,189 1,271,939 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 544,743 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 877,418 0.28%2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,457,670 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,457,264 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 863,944 0.26%2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 582,359 0.26%1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,406,943 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,447,177 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,447,007 0.26%3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,690,594 0.82%13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,474,299 0.85%12,750 FHLB Note 07/27/2022 12/20/2024 1,000,000 950,740 954,709 3.15%31,500 FFCB Note 01/06/2022 01/06/2025 595,000 593,661 570,028 1.20%7,140 FFCB Note 02/17/2022 02/14/2025 750,000 748,365 728,961 1.83%13,725 FFCB Note 02/28/2022 02/14/2025 750,000 748,057 728,661 1.83%13,725 FFCB Note 03/14/2022 02/25/2025 750,000 743,441 729,182 2.06%15,450 FFCB Note 05/30/2022 05/09/2025 1,000,000 998,050 999,477 2.97%29,700 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 926,698 1.17%11,700 Subtotal 31,410,000$ 31,480,195$ 30,704,790$ 1.08%339,318$ U.S. Treasury Obligations U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 947,847 2.28%21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,484,825 1.87%28,050 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,475,918 1.78%26,700 U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 721,552 0.22%1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,351 957,422 0.36%3,600 U.S. Treasury Notes 07/27/2022 04/30/2024 1,000,000 981,914 984,023 3.06%30,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,191,944 0.36%4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,427,403 0.33%4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,649 1,428,516 0.38%5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 966,680 0.26%2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,266 1,327,484 0.44%6,160 July 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 July 31, 2022 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,309,869 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,429,218 0.80%12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,636 813,742 1.39%11,815 U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,460,976 2.03%30,450 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,445,976 0.40%6,000 U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 957,148 1.43%14,300 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,268,631 0.66%8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 968,283 0.33%3,300 U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 901,013 2.74%27,400 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,360 1,394,355 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,391,895 0.56%8,400 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,250,016 1.06%14,310 U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,463,321 2.96%44,400 U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,508,320 2.96%44,400 U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,562 1,608,688 2.87%45,920 U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,669,852 3.05%51,850 U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,093,770 3.21%35,310 Subtotal 36,150,000$ 35,944,271$ 34,848,687$ 1.40%508,960$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)462,063 462,063 462,063 1.45%6,700 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)347,587 347,587 347,587 1.45%5,040 Bank of New York 3,529,136 3,529,136 3,529,136 1.29%45,526 US Bank 981,342 981,342 981,342 0.00%16 LAIF 14,363,675 14,363,675 14,363,675 1.09%156,564 Subtotal 19,683,803$ 19,683,803$ 19,683,803$ 1.08%213,846 Asset-Backed Securities Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 83,040 83,039 82,875 1.79%1,486 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 29,383 29,377 29,342 2.23%655 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 171,088 171,079 170,349 1.94%3,319 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 170,464 170,454 168,718 1.11%1,892 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 349,227 0.40%1,440 BMW Vehicle Lease Trust 2022-1-A3 01/11/2022 03/25/2025 255,000 254,962 247,610 1.11%2,831 GM Financial Auto Lease Trust 2022-2 A3 05/30/2022 06/20/2025 450,000 449,953 449,276 3.45%15,525 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 245,932 0.37%944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 987,672 0.26%2,665 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 249,026 0.89%2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 294,733 0.52%1,612 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 233,870 0.71%1,740 Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 425,000 424,936 412,142 1.89%8,033 BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 300,000 299,984 299,203 3.23%9,690 John Deere Owner Trust 2022-A A3 03/10/2022 09/16/2026 330,000 329,927 322,073 2.34%7,722 Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 595,000 594,977 578,774 2.23%13,269 GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 170,000 169,985 163,836 1.27%2,159 GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 260,000 259,946 258,103 3.13%8,138 Subtotal 5,693,975$ 5,693,345$ 5,542,761$ 1.50%85,432$ 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 July 31, 2022 Supranational Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 342,829 0.32%1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,185,450 0.52%6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 969,120 0.46%4,600 Subtotal 2,605,000$ 2,632,292$ 2,497,399$ 0.46%12,236$ US Corporate Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 499,031 2.04%10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 254,698 2.28%5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 998,696 3.22%32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 749,877 2.77%20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 749,288 2.37%17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 746,781 2.54%19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 801,989 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 952,857 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 592,871 0.47%2,891 Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 962,892 0.92%9,200 Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 548,448 0.69%3,933 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 409,502 0.69%2,967 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 864,219 0.50%4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 514,989 0.49%2,646 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 364,776 0.52%2,002 MasterCard Inc Callable Note 1x 02/25/2022 02/03/0225 1,000,000 999,010 975,386 2.03%20,300 Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 474,917 2.04%10,200 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 705,239 1.29%9,675 State Street Bank Callable Note Cont 02/02/2025 02/06/2026 265,000 265,000 252,678 2.31%6,122 Subtotal 12,715,000$ 12,768,668$ 12,419,134$ 1.73%220,259$ TOTAL 108,257,778$ 108,202,574$ 105,696,574$ 1.27%1,380,052$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail July 31, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 1,116,959$ 1,116,959$ 1,116,959$ 1.09%12,175 TOTAL 1,116,959$ 1,116,959$ 1,116,959$ 1.09% $12,175 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail July 31, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 246,001$ 246,001$ 246,001$ 1.09%2,681 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)375,203$ 375,203 375,203 1.45%5,440 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)0$ 0 0 1.45%0 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)291,175$ 291,175 291,175 1.45%4,222 Subtotal 912,379$ 912,379$ 912,379$ 1.35%12,344$ TOTAL 912,379$ 912,379$ 912,379$ 1.35%12,344$ 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 10/31/2022 11/29/2021 125,000$ 124,917$ 124,306$ 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$ 246,240$ 1.66%4,150 U.S. Treasury Note 7/13/2022 6/30/2023 250,000$ 242,998$ 243,604$ 3.10%7,750 Subtotal 875,000$ 864,812$ 863,791$ 1.43%12,500$ Cash Equivalents LAIF - improvement fund 399,799$ 399,799$ 399,799$ 1.09%4,358 Bank of New York-Improvement fd 1,300$ 1,300 1,300 1.29%17 Subtotal 401,099$ 401,099$ 401,099$ 1.09%4,375$ Total 1,276,099$ 1,265,911$ 1,264,890$ 1.32%16,875$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) July 31, 2022 Page 9