HomeMy WebLinkAbout032123-06.3
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ADMINISTRATIVE STAFF REPORT 6.3
TO: Mayor and Town Council March 21, 2023
SUBJECT: January 2023 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 January 2023:
December January December January
2022 2023 2022 2023
Town Funds $108,681,240 $110,018,703 $104,866,814 $106,676,610
Trust Funds 1,882,023 1,886,203 1,882,023 1,886,203
Assessment & SA 1,639,844 2,034,588 1,643,789 2,041,087
Total Cash & Investments $112,203,107 $113,939,494 $108,392,626 $110,603,900
Total Cash & Investments
Year-to-Year Comparison
2021 $101,821,202 $103,593,630 $101,861,539 $103,062,243
Cost Basis Market Value
Purchases for the month of January 2023 consisted of one Honeywell Intl Callable Note
for $933,280 (maturity date November 1, 2026), one US Treasury Note for $1,568,438
(maturity date August 31, 3027), and one Microsoft Callable Note Cont for
$970,060(maturity date November 3, 2025).
There were no purchases for the NERIAD Fund for the month of January 2023.
Maturities for the month of January 2023 consisted of one Toyota Motor Credit Corp Note
for $980,920, one Federal National Mortgage Association Note for $1,495,455, one US
Bank NA Callable Note Cont for $752,190, and one Bank of NY Mellon Corp Callable
Note for $764,625.
January 2023 Treasurer’s Report 2 March 21, 2023
Sales before maturities for the month of January 2023 included one John Deere Owner
Trust 2021-A A3 for $15,521, one John Deere Owner Trust 2020-A A3 for $13,402, one
Nissan Auto Receivables Owner 2019-C A3 for $18,126, and one Toyota Auto Receivables
Trust 2021-B A3 for $31,742.
There were no maturities for NERIAD Fund for the month of January 2023.
The Town’s net cash position changed from $16,564,249 to $18,501,908 during the month
of January 2023. This consisted of operating revenues in excess of operating expenses of
$1,153,823 net funds invested of -$600,203, premium/discount recognition of $6,818 and
interest received of $176,815.
Cash requirements have been projected for the next 12 months, and the Town is in a
position to meet its cash requirements.
All investments that the Town owns are in compliance with the California Government
Code and the Town’s Investment Policy.
PUBLIC CONTACT
Posting of the meeting agenda serves as notice to the general public.
RECOMMENDATION
Accept the January 2023 Month End Treasurer’s Report.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Joseph A. Calabrigo
Town Manager
Attachment: January 2023 Month End Treasurer’s Report
Town of Danville
Treasurer's Report of Investments - Summary
January 31, 2023
Yield to
Description Par Value Cost Market Value % Total Maturity
TOWN FUNDS
U.S. Treasury Obligations 43,150,000$ 42,682,848$ 41,040,810$ 38%1.78%
Federal Agency Issues 28,310,000 28,354,123 27,444,629 26%0.97%
Cash Equivalents 18,501,908 18,501,908 18,501,908 17%2.44%
Asset-Backed Securities 5,273,511 5,272,913 5,083,881 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 2,463,529 2%0.46%
US Corporate 12,630,000 12,574,619 12,141,853 11%2.16%
Total / Weighted Average 110,470,419$ 110,018,703$ 106,676,610$ 100%1.69%
Maturities
0 - 30 Days 18,501,909$ 17%
31-60 898,525 1%
61 - 90 1,488,668 1%
91 - 120 3,466,104 3%
121 - 180 6,822,261 6%
181 - 270 4,620,529 4%
271 - 365 9,618,846 9%
1 - 2 Years 27,554,644 26%
2 - 3 25,092,800 24%
3 - 5 8,612,324 8%
Over 5 Years 0 0%
106,676,610$ 100%
Total / Weighted Average
Town Funds Weighted Average Quality is AAA
Page 1
Town of Danville
Treasurer's Report of Investments - Summary
January 31, 2023
Description Par Value Cost Market Value % Total
TRUST FUND
Cash Equivalents 1,886,203$ 1,886,203$ 1,886,203$ 100%
CDA/SUCCESSOR AGENCY
Cash Equivalents 814,864$ 814,864$ 814,864$ 100%
Total 814,864$ 814,864$ 814,864$ 100%
ASSESSMENT DISTRICTS
NERIAD
Federal Agency Issues -$ -$ -$ 0%
U.S. Treasury Obligations 875,000 852,612 859,111 70%
Cash Equivalents 367,112 367,112 367,112 30%
Subtotal 1,242,112$ 1,219,724$ 1,226,223$ 100%
Total 1,242,112$ 1,219,724$ 1,226,223$ 100%
SUMMARY TOTAL
Town Funds 110,470,419$ 110,018,703$ 106,676,610$
Trust Fund 1,886,203 1,886,203 1,886,203
CDA/Successor Agency 814,864 814,864 814,864
NERIAD 1,242,112 1,219,724 1,226,223
Summary Total 114,413,598$ 113,939,494$ 110,603,900$
Page 2
Town of Danville
Treasurer's Report of Investments
CDA
Town Funds Trust Funds Successor Agency NERIAD Total
Beginning Balance, at cost 108,681,240$ 1,882,023$ 420,089$ 1,219,755$ 112,203,108$
Purchases, at cost
Honeywell Intl Callable Note 933,280$ 933,280
US Treasury Note 1,568,438$ 1,568,438
Microsoft Callable Note Cont 970,060$ 970,060
US Treasury Note -$ -
GM Financial Securitized ART 2022-2 A3 -$ -
US Treasury Note -$ - - -
Sales/Maturations/Call - -
Toyota Motor Credit Corp Note (980,920)$ (980,920)
FNMA (1,495,455)$ (1,495,455)
US Bank NA Callable Note Cont (752,190)$ - (752,190)
Bank of NY Mellon corp Callable Note (764,625)$ - (764,625)
-$ -
Redemption (78,792)$ (78,792)
Premium/Discount 6,818$ - - 6,818
Interest Received 176,815$ - 1,108 400 178,324
Net change in Cash 1,754,034$ 4,180 393,666 (431)2,151,449
Realized gains (losses)-
Ending Balance, at cost 110,018,703$ 1,886,203$ 814,864$ 1,219,724$ 113,939,494
January 31, 2023
Page 3
Town of DanvilleTreasurer's Report of Investments - DetailTown 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 0 0 - 2.46%0
FHLB Note 03/28/2019 03/10/2023 900,000 917,136 898,525 2.24%20,160
FHLMC Note 05/05/2020 05/05/2023 1,330,000 1,329,442 1,315,059 0.39%5,187
FNMA Note 05/20/2020 05/22/2023 1,425,000 1,420,711 1,405,259 0.35%4,988 FFCB Note 06/02/2020 06/08/2023 1,500,000 1,498,875 1,476,213 0.33%4,950 FHLB Note 06/10/2019 06/09/2023 1,500,000 1,507,305 1,486,533 2.00%30,000 FHLMC Note 06/24/2020 06/26/2023 1,305,000 1,301,189 1,281,305 0.35%4,568 FNMA Note 07/08/2020 07/10/2023 560,000 558,796 548,326 0.28%1,568 FNMA Note 08/12/2020 07/10/2023 900,000 900,054 883,190 0.28%2,520 FFCB Note 08/12/2020 08/14/2023 1,500,000 1,496,880 1,461,443 0.27%4,050 FHLMC Note 09/28/2020 08/24/2023 1,500,000 1,501,095 1,462,046 0.22%3,300 FHLMC Note 09/04/2020 09/08/2023 890,000 889,706 865,760 0.26%2,314 FHLMC Note 09/10/2020 09/08/2023 600,000 599,724 583,583 0.26%1,560 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,404,856 0.28%4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,444,829 0.27%4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,444,029 0.26%3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,661,303 0.82%13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,452,832 0.85%12,750
FHLB Note 0801/2022 11/08/2024 900,000 858,798 846,789 3.11%27,990
FHLB Note 07/27/2022 12/20/2024 1,000,000 950,740 941,003 3.15%31,500
FFCB Note 01/06/2022 01/06/2025 595,000 593,661 560,087 1.20%7,140
FFCB Note 02/17/2022 02/14/2025 750,000 748,365 712,167 1.83%13,725
FFCB Note 02/28/2022 02/14/2025 750,000 748,057 711,873 1.83%13,725
FFCB Note 03/14/2022 02/25/2025 750,000 743,441 713,503 2.06%15,450
FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 972,840 2.97%29,700
FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 911,277 1.17%11,700
Subtotal 28,310,000$ 28,354,123$ 27,444,629$ 0.97%274,808$
January 31, 2023
Page 4
Town of DanvilleTreasurer's Report of Investments - DetailTown Funds
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
January 31, 2023
U.S. Treasury Obligations
U.S. Treasury Notes 06/19/2019 04/30/2023 1,500,000 1,486,582 1,488,668 1.87%28,050
U.S. Treasury Notes 09/13/2019 10/31/2023 1,500,000 1,490,918 1,465,313 1.78%26,700
U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 720,557 0.22%1,650
U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,351 950,430 0.36%3,600
U.S. Treasury Notes 07/27/2022 04/30/2024 1,000,000 981,914 968,047 3.06%30,600
U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,182,177 0.36%4,500
U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,414,804 0.33%4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,649 1,413,574 0.38%5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 951,602 0.26%2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,265 1,312,937 0.44%6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,285,980 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,408,534 0.80%12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,636 800,561 1.39%11,815 U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,432,441 2.03%30,450 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,419,962 0.40%6,000 U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 940,312 1.43%14,300 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,250,859 0.66%8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 954,241 0.33%3,300 U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 887,947 2.74%27,400 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,374,492 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,373,087 0.56%8,400
U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,231,454 1.06%14,310
U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,428,163 2.96%44,400
U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,463,320 2.96%44,400
U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,562 1,560,813 2.87%45,920
U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,626,223 3.05%51,850
U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,063,477 3.21%35,310
U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,526 1,716,680 3.00%54,000
U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,530,938 3.43%54,880
U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,383,448 4.01%58,145
U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,474,395 4.01%60,150
U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,565,374 3.59%57,440Subtotal43,150,000$ 42,682,848$ 41,040,810$ 1.78%771,915$
Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)467,457 467,457 467,457 3.76%17,576 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)351,623 351,623 351,623 3.76%13,221 Bank of New York 984,438 984,438 984,438 3.29%32,388 US Bank 665,868 665,868 665,868 0.00%11 LAIF 16,032,522 16,032,522 16,032,522 2.43%388,789Subtotal18,501,908$ 18,501,908$ 18,501,908$ 2.44%451,985
Page 5
Town of DanvilleTreasurer's Report of Investments - DetailTown Funds
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
January 31, 2023
Asset-Backed Securities
Nissan Auto Receivables Owner 2019-C A3 10/16/2019 07/15/2024 49,219 49,216 49,071 1.94%955
John Deere Owner Trust 2020-A A3 03/04/2020 08/15/2024 64,144 64,140 63,655 1.11%712
Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 360,000 359,973 350,967 0.40%1,440
BMW Vehicle Lease Trust 2022-1-A3 01/11/2022 03/25/2025 255,000 254,962 247,699 1.11%2,831
GM Financial Auto Lease Trust 2022-2 A3 05/30/2022 06/20/2025 450,000 449,953 441,424 3.45%15,525 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 206,891 206,851 199,794 0.37%765 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 993,257 993,151 956,702 0.26%2,582 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 260,000 259,945 247,516 0.89%2,314 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 310,000 309,972 295,359 0.52%1,612 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 245,000 244,995 232,332 0.71%1,740 Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 425,000 424,936 405,074 1.89%8,033 BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 300,000 299,984 292,863 3.23%9,690 John Deere Owner Trust 2022-A A3 03/10/2022 09/16/2026 330,000 329,927 316,252 2.34%7,722 Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 595,000 594,977 570,860 2.23%13,269 GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 170,000 169,985 161,205 1.27%2,159 GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 260,000 259,946 253,108 3.13%8,138Subtotal5,273,511$ 5,272,913$ 5,083,881$ 1.50%79,486$
Supranational
Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 342,071 0.32%1,136
Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,171,975 0.52%6,500
International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 949,483 0.46%4,600
Subtotal 2,605,000$ 2,632,292$ 2,463,529$ 0.46%12,236$
US Corporate 0
0
Apple Inc Note 05/29/2019 05/03/2023 750,000 746,205 745,786 2.54%19,050 Wal-Mart Stores Callable Note Cont 03/27/2019 06/26/2023 800,000 827,616 795,728 2.54%20,320 American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 938,093 2.07%19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 589,877 0.47%2,891 Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 955,908 0.92%9,200 Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 543,110 0.69%3,933 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 405,516 0.69%2,967 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 857,202 0.50%4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 510,389 0.49%2,646 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 361,963 0.52%2,002 MasterCard Inc Callable Note 1x 02/25/2022 02/03/0225 1,000,000 999,010 950,432 2.03%20,300 Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 465,654 2.04%10,200 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 705,976 1.79%13,425 Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 456,916 3.13%14,711 Wal-Mart Stores Note 09/26/2022 02/06/2026 700,000 685,776 696,283 4.64%32,480
Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 973,146 4.28%42,800
State Street Bank Callable Note Cont 02/02/2025 02/06/2026 265,000 265,000 248,385 2.80%7,420
Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 941,489 4.43%44,300
Subtotal 12,630,000$ 12,574,619$ 12,141,853$ 2.16%272,835$
TOTAL 110,470,419$ 110,018,703$ 106,676,610$ 1.69%1,863,264$
Source:
Chandler Asset Management
US Bank
Local Agency Investment Fund (LAIF)
Page 6
Town of Danville
Treasurer's Report of Investments - Detail
January 31, 2023
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF 1,886,203$ 1,886,203$ 1,886,203$ 2.43%45,740
TOTAL 1,886,203$ 1,886,203$ 1,886,203$ 2.43% $45,740
Source:
Local Agency Investment Fund (LAIF)
Trust Fund
Page 7
Town of Danville
Treasurer's Report of Investments - Detail
January 31, 2023
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF - redemption fund 363,131$ 363,131$ 363,131$ 2.43%8,806
Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)379,405$ 379,405 379,405 3.76%14,266
Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)78$ 78 78 3.76%3
Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)72,250$ 72,250 72,250 3.76%2,717
Subtotal 814,864$ 814,864$ 814,864$ 3.17%25,791$
TOTAL 814,864$ 814,864$ 814,864$ 3.17%25,791$
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 3/30/2022 3/15/2023 250,000$ 247,256$ 248,814$ 1.66%4,150
U.S. Treasury Note 10/28/2022 4/27/2023 125,000$ 122,319$ 122,319$ 4.49%5,613
U.S. Treasury Note 7/13/2022 6/30/2023 250,000$ 242,998$ 245,312$ 3.10%7,750
U.S. Treasury Note 11/3/2022 9/30/2023 250,000$ 240,039$ 242,666$ 4.81%12,025
Subtotal 875,000$ 852,612$ 859,111$ 3.38%29,538$
Cash Equivalents
LAIF - improvement fund 352,326$ 352,326$ 352,326$ 2.43%8,544
Bank of New York-Improvement fd 14,786$ 14,786 14,786 3.29%486
Subtotal 367,112$ 367,112$ 367,112$ 2.46%9,030$
Total 1,242,112$ 1,219,724$ 1,226,223$ 3.11%38,568$
Source: Chandler Asset Management
BNY Trust Company
Local Agency Investment Fund (LAIF)
Northeast Roadway Improvement Assessment District (NERIAD)
January 31, 2023
Page 9