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HomeMy WebLinkAbout101822-05.3 1 ADMINISTRATIVE STAFF REPORT 5.3 TO: Mayor and Town Council October 18, 2022 SUBJECT: August 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 August 2022: July August July August 31, 2022 31, 2022 31, 2022 31, 2022 Town Funds $108,202,574 $106,145,874 $105,696,574 $102,934,596 Trust Funds 1,116,959 1,138,675 1,116,959 1,138,675 Assessment & SA 2,178,290 2,157,977 2,177,269 2,157,010 Total Cash & Investments $111,497,823 $109,442,526 $108,990,802 $106,230,281 Total Cash & Investments Year-to-Year Comparison 2021 $99,997,990 $98,764,399 $101,091,668 $99,766,138 Cost Basis Market Value Purchases for the month of August 2022 consisted of one Federal Home Loan Bank Note for $858,798 (maturity date November 8, 2024), one US Treasury note for $1,753,523 (maturity date March 31, 2026), and one Colgate Palmolive Co. Note for $469,568 (maturity date August 15, 2025). There were no purchases for the NERIAD Fund for the month of August 2022. There were no maturities for the month of August 2022. There were no maturities for the NERIAD Fund for the month of August 2022. August 2022 Treasurer’s Report 2 October 18, 2022 Sales before maturities for the month of August 2022 included one Honda Auto Receivable Trust 2019-3 A-3 for $23,443, John Deere Owner Trust 2019-B A3 for $8,405 John Deere Owner Trust 2020-A A3 for $21,815, Nissan Auto Receivables Owner 2019-C A3 for $21,769. The Town’s net cash position changed from $14,363,675 to $13,050,780 during the month of August 2022. This consisted of operating revenues in excess of operating expenses of $1,613,194 net fund invested of $3,0006,457, premium/discount recognition of $4 and interest received of $80,365. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the August 2022 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: August 2022 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary August 31, 2022 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 37,950,000$ 37,697,795$ 36,175,323$ 35%1.48% Federal Agency Issues 32,310,000 32,338,993 31,411,253 31%1.13% Cash Equivalents 14,620,641 14,620,641 14,620,641 14%1.26% Asset-Backed Securities 5,618,543 5,617,918 5,445,602 5%1.49% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 2,605,000 2,632,292 2,472,942 2%0.46% US Corporate 13,185,000 13,238,235 12,808,835 12%1.78% Total / Weighted Average 106,289,184$ 106,145,874$ 102,934,596$ 100%1.36% Maturities 0 - 30 Days 16,434,931$ 16% 31-60 1,497,443 1% 61 - 90 0 0% 91 - 120 948,046 1% 121 - 180 3,988,303 4% 181 - 270 6,641,379 6% 271 - 365 9,043,889 9% 1 - 2 Years 26,230,696 25% 2 - 3 30,404,816 30% 3 - 5 7,745,093 8% Over 5 Years 0 0% 102,934,596$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary August 31, 2022 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 1,138,675$ 1,138,675$ 1,138,675$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 900,737$ 900,737$ 900,737$ 100% Total 900,737$ 900,737$ 900,737$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 875,000 864,812 863,845 69% Cash Equivalents 392,428 392,428 392,428 31% Subtotal 1,267,428$ 1,257,240$ 1,256,273$ 100% Total 1,267,428$ 1,257,240$ 1,256,273$ 100% SUMMARY TOTAL Town Funds 106,289,184$ 106,145,874$ 102,934,596$ Trust Fund 1,138,675 1,138,675 1,138,675 CDA/Successor Agency 900,737 900,737 900,737 NERIAD 1,267,428 1,257,240 1,256,273 Summary Total 109,596,024$ 109,442,526$ 106,230,281$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 108,202,574$ 1,116,959$ 912,379$ 1,265,911$ 111,497,823$ Purchases, at cost FHLB Note 858,798$ 858,798 US Treasury Note 1,753,523$ 1,753,523 Colgate Palmolive Co. Note 469,568$ 469,568 US Treasury Note -$ - GM Financial Securitized ART 2022-2 A3 -$ - US Treasury Note -$ - - - Sales/Maturations/Call - - US Treasury Note -$ - FHLB -$ - -$ - - - -$ - Redemption (75,432)$ (75,432) Premium/Discount 4$ - - 4 Interest Received 80,365$ - 351 294 81,009 Net change in Cash (5,143,526)$ 21,717 (11,993) (8,965)(5,142,768) Realized gains (losses)- Ending Balance, at cost 106,145,874$ 1,138,675$ 900,737$ 1,257,240$ 109,442,525 August 31, 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 11/05/2018 09/09/2022 1,000,000 1,000,830 1,000,138 3.10%31,000 FFCB Note 10/15/2019 10/11/2022 1,500,000 1,488,585 1,497,442 1.64%24,600 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,494,715 2.46%36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 896,703 2.24%20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,442 1,302,478 0.39%5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,391,084 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,464,084 0.33%4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,485,607 2.00%30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,189 1,271,070 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 544,080 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 876,351 0.28%2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,453,323 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,451,868 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 860,296 0.26%2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 579,899 0.26%1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,400,547 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,442,382 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,439,444 0.26%3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,678,604 0.82%13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,463,993 0.85%12,750 FHLB Note 0801/2022 11/08/2024 900,000 858,798 850,720 3.11%27,990 FHLB Note 07/27/2022 12/20/2024 1,000,000 950,740 947,053 3.15%31,500 FFCB Note 01/06/2022 01/06/2025 595,000 593,661 563,554 1.20%7,140 FFCB Note 02/17/2022 02/14/2025 750,000 748,365 720,021 1.83%13,725 FFCB Note 02/28/2022 02/14/2025 750,000 748,057 719,724 1.83%13,725 FFCB Note 03/14/2022 02/25/2025 750,000 743,441 718,827 2.06%15,450 FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 984,499 2.97%29,700 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 912,747 1.17%11,700 Subtotal 32,310,000$ 32,338,993$ 31,411,253$ 1.13%367,308$ August 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 August 31, 2022 U.S. Treasury Obligations U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 948,046 2.28%21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,483,066 1.87%28,050 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,469,179 1.78%26,700 U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 719,004 0.22%1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,351 951,445 0.36%3,600 U.S. Treasury Notes 07/27/2022 04/30/2024 1,000,000 981,914 976,797 3.06%30,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,184,131 0.36%4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,417,149 0.33%4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,649 1,417,442 0.38%5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 958,086 0.26%2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,265 1,315,727 0.44%6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,295,789 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,413,926 0.80%12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,636 804,313 1.39%11,815 U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,443,516 2.03%30,450 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,427,929 0.40%6,000 U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 944,492 1.43%14,300 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,252,020 0.66%8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 955,010 0.33%3,300 U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 888,662 2.74%27,400 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,374,258 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,371,387 0.56%8,400 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,230,293 1.06%14,310 U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,438,183 2.96%44,400 U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,479,667 2.96%44,400 U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,562 1,577,813 2.87%45,920 U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,637,114 3.05%51,850 U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,071,684 3.21%35,310 U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,526 1,729,195 3.00%54,000 Subtotal 37,950,000$ 37,697,795$ 36,175,323$ 1.48%562,960$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)462,453 462,453 462,453 1.62%7,492 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)348,035 348,035 348,035 1.62%5,638 Bank of New York 603,043 603,043 603,043 0.96%5,789 US Bank 156,330 156,330 156,330 0.00%3 LAIF 13,050,780 13,050,780 13,050,780 1.28%166,528 Subtotal 14,620,641$ 14,620,641$ 14,620,641$ 1.26%185,450 Asset-Backed Securities Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 59,596 59,596 59,504 1.79%1,067 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 20,978 20,973 20,949 2.23%468 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 149,319 149,311 148,775 1.94%2,897 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 148,650 148,641 147,229 1.11%1,650 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 348,730 0.40%1,440 BMW Vehicle Lease Trust 2022-1-A3 01/11/2022 03/25/2025 255,000 254,962 247,050 1.11%2,831 GM Financial Auto Lease Trust 2022-2 A3 05/30/2022 06/20/2025 450,000 449,953 446,837 3.45%15,525 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 246,032 0.37%944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 984,905 0.26%2,665 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 247,804 0.89%2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 294,585 0.52%1,612 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 233,440 0.71%1,740 Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 425,000 424,936 409,529 1.89%8,033 BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 300,000 299,985 296,415 3.23%9,690 John Deere Owner Trust 2022-A A3 03/10/2022 09/16/2026 330,000 329,927 320,073 2.34%7,722 Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 595,000 594,977 574,503 2.23%13,269 GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 170,000 169,985 163,102 1.27%2,159 GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 260,000 259,946 256,140 3.13%8,138 Subtotal 5,618,543$ 5,617,918$ 5,445,602$ 1.49%84,161$ 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 August 31, 2022 Supranational Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 340,977 0.32%1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,175,237 0.52%6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 956,728 0.46%4,600 Subtotal 2,605,000$ 2,632,292$ 2,472,942$ 0.46%12,236$ US Corporate Paccar Financial Corp Note 09/23/2019 09/26/2022 500,000 499,390 499,638 2.04%10,200 Chevron Corp Callable Note Cont 06/19/2019 12/05/2022 255,000 255,607 255,010 2.28%5,814 Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 997,222 3.22%32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 748,573 2.77%20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 747,793 2.37%17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 744,932 2.54%19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 802,166 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 947,080 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 589,000 0.47%2,891 Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 958,113 0.92%9,200 Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 543,196 0.69%3,933 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 405,580 0.69%2,967 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 856,410 0.50%4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 511,545 0.49%2,646 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 361,559 0.52%2,002 MasterCard Inc Callable Note 1x 02/25/2022 02/03/0225 1,000,000 999,010 959,498 2.03%20,300 Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 467,495 2.04%10,200 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 702,015 1.29%9,675 Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 462,390 3.13%14,711 State Street Bank Callable Note Cont 02/02/2025 02/06/2026 265,000 265,000 249,620 2.31%6,122 Subtotal 13,185,000$ 13,238,235$ 12,808,835$ 1.78%234,970$ TOTAL 106,289,184$ 106,145,874$ 102,934,596$ 1.36%1,447,085$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail August 31, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 1,138,675$ 1,138,675$ 1,138,675$ 1.28%14,529 TOTAL 1,138,675$ 1,138,675$ 1,138,675$ 1.28% $14,529 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail August 31, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 45,851$ 45,851$ 45,851$ 1.28%585 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)375,519$ 375,519 375,519 1.62%6,083 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)35$ 35 35 1.62%1 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)479,333$ 479,333 479,333 1.62%7,765 Subtotal 900,737$ 900,737$ 900,737$ 1.60%14,434$ TOTAL 900,737$ 900,737$ 900,737$ 1.60%14,434$ 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$ 124,478$ 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$ 246,416$ 1.66%4,150 U.S. Treasury Note 7/13/2022 6/30/2023 250,000$ 242,998$ 243,310$ 3.10%7,750 Subtotal 875,000$ 864,812$ 863,845$ 1.43%12,500$ Cash Equivalents LAIF - improvement fund 391,128$ 391,128$ 391,128$ 1.28%4,991 Bank of New York-Improvement fd 1,300$ 1,300 1,300 0.96%12 Subtotal 392,428$ 392,428$ 392,428$ 1.27%5,003$ Total 1,267,428$ 1,257,240$ 1,256,273$ 1.38%17,503$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) August 31, 2022 Page 9