Loading...
HomeMy WebLinkAbout122022-05.4 1 ADMINISTRATIVE STAFF REPORT 5.4 TO: Mayor and Town Council December 20, 2022 SUBJECT: October 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 October 2022: September October September October 30, 2022 31, 2022 30, 2022 31, 2022 Town Funds $102,969,235 $103,272,515 $98,722,758 $98,843,899 Trust Funds 1,786,559 1,788,066 1,786,559 1,788,066 Assessment & SA 2,122,985 1,644,307 2,121,546 1,643,213 Total Cash & Investments $106,878,779 $106,704,888 $102,680,863 $102,275,178 Total Cash & Investments Year-to-Year Comparison 2021 $96,773,600 $94,715,824 $97,507,870 $95,117,097 Cost Basis Market Value Purchases for the month of October 2022 consisted of one US Treasury Note for $1,451,309 (maturity date June 30, 2027). Purchases for the NERIAD Fund consisted of one US Treasury Bill for $122,319 (maturity date April 27, 2023). Maturities for the month of October 2022 include one Federal Farm Credit Bank Note for $1,488,585. Sales before maturities for the month of October 2022 included one Honda Auto Receivables Trust 2019-3 A-3 for $22,221, John Deere Owner Trust 2019-B A3 for $6,034, October 2022 Treasurer’s Report 2 December 20, 2022 John Deere Owner Trust 2020-A A3 for $16,249, and Nissan Auto Receivable Owner 2019- C A3 for $20,824. There were no maturities for the NERIAD Fund for the month of October 2022. The Town’s net cash position changed from $15,025,582 to $11,968,551 during the month of October 2022. This consisted of operating expenses in excess of operating revenues of -$2,759,477 net fund invested of $405,458, premium/discount recognition of -$823 and interest received of $108,727. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the October 2022 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: October 2022 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary October 31, 2022 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 41,050,000$ 40,691,604$ 38,457,954$ 39%1.65% Federal Agency Issues 29,810,000 29,849,578 28,663,282 29%1.04% Cash Equivalents 11,444,421 11,444,421 11,444,421 12%1.56% Asset-Backed Securities 5,486,225 5,485,606 5,248,386 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 2,435,561 2%0.46% US Corporate 13,130,000 13,169,014 12,594,295 13%1.92% Total / Weighted Average 103,525,646$ 103,272,515$ 98,843,899$ 100%1.47% Maturities 0 - 30 Days 10,002,706$ 10% 31-60 948,756 1% 61 - 90 3,985,227 4% 91 - 120 0 0% 121 - 180 894,529 1% 181 - 270 11,685,995 12% 271 - 365 7,476,057 8% 1 - 2 Years 28,098,451 28% 2 - 3 26,729,390 27% 3 - 5 9,022,789 9% Over 5 Years 0 0% 98,843,899$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary October 31, 2022 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 1,788,066$ 1,788,066$ 1,788,066$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 422,435$ 422,435$ 422,435$ 100% Total 422,435$ 422,435$ 422,435$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 875,000 862,214 861,120 71% Cash Equivalents 359,658 359,658 359,658 29% Subtotal 1,234,658$ 1,221,872$ 1,220,778$ 100% Total 1,234,658$ 1,221,872$ 1,220,778$ 100% SUMMARY TOTAL Town Funds 103,525,646$ 103,272,515$ 98,843,899$ Trust Fund 1,788,066 1,788,066 1,788,066 CDA/Successor Agency 422,435 422,435 422,435 NERIAD 1,234,658 1,221,872 1,220,778 Summary Total 106,970,806$ 106,704,888$ 102,275,178$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 102,969,235$ 1,786,559$ 901,274$ 1,221,711$ 106,878,778$ Purchases, at cost FHLB Note -$ - US Treasury Note 1,451,309$ 1,451,309 Wal-Mart Stores NoteNote -$ - US Treasury Note -$ 122,319 122,319 GM Financial Securitized ART 2022-2 A3 -$ - US Treasury Note -$ - - - Sales/Maturations/Call - - FFCB (1,488,585)$ (1,488,585) FHLB -$ - Paccar Financial Corp Note -$ - - US Treasury Note (124,917) (124,917) -$ - Redemption (65,328)$ (65,328) Premium/Discount 11,502$ - - 11,502 Interest Received 147,587$ - 561 391 148,539 Net change in Cash 246,795$ 1,507 (479,400) 2,368 (228,730) Realized gains (losses)- Ending Balance, at cost 103,272,515$ 1,788,066$ 422,435$ 1,221,872$ 106,704,888 October 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 FNMA Note 03/18/2019 01/19/2023 1,500,000 1,495,455 1,494,650 2.46%36,900 FHLB Note 03/28/2019 03/10/2023 900,000 917,136 894,529 2.24%20,160 FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,442 1,301,704 0.39%5,187 FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,391,200 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,459,289 0.33%4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,476,743 2.00%30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,189 1,268,977 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 542,573 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 873,923 0.28%2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,448,346 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,446,725 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 857,339 0.26%2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 577,906 0.26%1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,390,172 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,430,631 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,430,754 0.26%3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,655,042 0.82%13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,445,452 0.85%12,750 FHLB Note 0801/2022 11/08/2024 900,000 858,798 835,285 3.11%27,990 FHLB Note 07/27/2022 12/20/2024 1,000,000 950,740 926,494 3.15%31,500 FFCB Note 01/06/2022 01/06/2025 595,000 593,661 552,029 1.20%7,140 FFCB Note 02/17/2022 02/14/2025 750,000 748,365 704,296 1.83%13,725 FFCB Note 02/28/2022 02/14/2025 750,000 748,057 704,007 1.83%13,725 FFCB Note 03/14/2022 02/25/2025 750,000 743,441 703,418 2.06%15,450 FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 960,622 2.97%29,700 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 891,176 1.17%11,700 Subtotal 29,810,000$ 29,849,578$ 28,663,282$ 1.04%311,708$ CHECKED AND RECHECKED THE NUMBERS AND October 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 October 31, 2022 U.S. Treasury Obligations U.S. Treasury Notes 04/29/2019 11/30/2022 950,000 940,760 948,755 2.28%21,660 U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,479,667 1.87%28,050 U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,455,820 1.78%26,700 U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 713,350 0.22%1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,351 940,000 0.36%3,600 U.S. Treasury Notes 07/27/2022 04/30/2024 1,000,000 981,914 961,523 3.06%30,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,168,847 0.36%4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,397,871 0.33%4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,649 1,396,699 0.38%5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 941,797 0.26%2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,265 1,295,875 0.44%6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,272,533 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,390,254 0.80%12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,636 790,599 1.39%11,815 U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,416,914 2.03%30,450 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,401,738 0.40%6,000 U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 926,250 1.43%14,300 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,230,345 0.66%8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 937,608 0.33%3,300 U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 872,470 2.74%27,400 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,346,718 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,345,020 0.56%8,400 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,205,033 1.06%14,310 U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,403,087 2.96%44,400 U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,440,821 2.96%44,400 U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,562 1,535,000 2.87%45,920 U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,593,684 3.05%51,850 U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,041,434 3.21%35,310 U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,526 1,677,586 3.00%54,000 U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,495,813 3.43%54,880 U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,434,843 4.01%60,150 Subtotal 41,050,000$ 40,691,604$ 38,457,954$ 1.65%677,990$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)463,936 463,936 463,936 2.52%11,691 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)348,974 348,974 348,974 2.52%8,794 Bank of New York 645,754 645,754 645,754 1.08%6,974 US Bank 1,396,960 1,396,960 1,396,960 0.00%23 LAIF 8,588,796 8,588,796 8,588,796 1.77%152,193 Subtotal 11,444,421$ 11,444,421$ 11,444,421$ 1.56%179,676 Asset-Backed Securities Honda Auto Receivables Trust 2019-3 A3 08/20/2019 08/15/2023 14,121 14,121 14,106 1.79%253 John Deere Owner Trust 2019-B A3 07/16/2019 12/15/2023 9,521 9,519 9,511 2.23%212 Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 105,560 105,555 105,062 #1.94%2,048 John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 117,023 117,015 115,778 1.11%1,299 Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 346,644 0.40%1,440 BMW Vehicle Lease Trust 2022-1-A3 01/11/2022 03/25/2025 255,000 254,962 244,456 1.11%2,831 GM Financial Auto Lease Trust 2022-2 A3 05/30/2022 06/20/2025 450,000 449,953 437,985 3.45%15,525 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 255,000 254,951 244,133 0.37%944 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 1,025,000 1,024,890 980,491 0.26%2,665 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 245,130 0.89%2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 292,027 0.52%1,612 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 230,648 0.71%1,740 Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 425,000 424,936 402,248 1.89%8,033 BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 300,000 299,984 290,064 3.23%9,690 John Deere Owner Trust 2022-A A3 03/10/2022 09/16/2026 330,000 329,927 313,635 2.34%7,722 Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 595,000 594,977 565,549 2.23%13,269 GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 170,000 169,985 161,089 1.27%2,159 GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 260,000 259,946 249,830 3.13%8,138 Subtotal 5,486,225$ 5,485,606$ 5,248,386$ 1.49%81,891$ 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 October 31, 2022 Supranational Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 338,715 0.32%1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,157,250 0.52%6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 939,596 0.46%4,600 Subtotal 2,605,000$ 2,632,292$ 2,435,561$ 0.46%12,236$ US Corporate Toyota Motor Credit Corp Note 01/25/2019 01/11/2023 1,000,000 980,920 996,557 3.22%32,200 US Bank NA Callable Note Cont 04/29/2019 01/23/2023 750,000 752,190 747,470 2.77%20,775 Bank of NY Mellon Corp Callable Note Cont 07/25/2019 01/29/2023 750,000 764,625 746,551 2.37%17,775 Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 741,642 2.54%19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 794,123 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 932,482 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 583,572 0.47%2,891 Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 943,272 0.92%9,200 Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 536,776 0.69%3,933 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 400,787 0.69%2,967 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 844,706 0.50%4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 504,127 0.49%2,646 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 354,958 0.52%2,002 MasterCard Inc Callable Note 1x 02/25/2022 02/03/0225 1,000,000 999,010 938,993 2.03%20,300 Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 457,048 2.04%10,200 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 690,707 1.46%10,950 Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 450,636 3.13%14,711 Wal-Mart Stores Note 09/26/2022 02/06/2026 700,000 685,776 685,458 4.64%32,480 State Street Bank Callable Note Cont 02/02/2025 02/06/2026 265,000 265,000 244,430 2.48%6,572 Subtotal 13,130,000$ 13,169,014$ 12,594,295$ 1.92%253,162$ TOTAL 103,525,646$ 103,272,515$ 98,843,899$ 1.47%1,516,663$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail October 31, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 1,788,066$ 1,788,066$ 1,788,066$ 1.77%31,685 TOTAL 1,788,066$ 1,788,066$ 1,788,066$ 1.77% $31,685 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail October 31, 2022 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 45,784$ 45,784$ 45,784$ 1.77%811 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)376,566$ 376,566 376,566 2.52%9,489 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)77$ 77 77 2.52%2 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)9$ 9 9 2.52%0 Subtotal 422,435$ 422,435$ 422,435$ 2.44%10,303$ TOTAL 422,435$ 422,435$ 422,435$ 2.44%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 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$ 246,543$ 1.66%4,150 U.S. Treasury Note 10/28/2022 4/27/2023 125,000$ 122,319$ 122,319$ 0.20%250 U.S. Treasury Note 7/13/2022 6/30/2023 250,000$ 242,998$ 242,617$ 3.10%7,750 Subtotal 875,000$ 862,214$ 861,120$ 1.43%12,500$ Cash Equivalents LAIF - improvement fund 354,972$ 354,972$ 354,972$ 1.77%6,290 Bank of New York-Improvement fd 4,686$ 4,686 4,686 1.08%51 Subtotal 359,658$ 359,658$ 359,658$ 1.76%6,341$ Total 1,234,658$ 1,221,872$ 1,220,778$ 1.53%18,841$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) October 31, 2022 Page 9