Loading...
HomeMy WebLinkAbout121923-05.04 1 ADMINISTRATIVE STAFF REPORT 5.4 TO: Mayor and Town Council December 19, 2023 SUBJECT: October 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 October 2023: September October September October 2023 2023 2023 2023 Town Funds $103,572,605 $103,894,647 $100,539,887 $100,919,286 Trust Funds 1,704,686 1,640,102 1,704,686 1,640,102 Assessment & SA 1,660,386 1,665,693 1,668,745 1,676,054 Total Cash & Investments $106,937,677 $107,200,442 $103,913,318 $104,235,442 Total Cash & Investments Year-to-Year Comparison 2022 $106,878,779 $106,704,888 $102,680,863 $102,275,178 Cost Basis Market Value There were no purchases for the month of October 2023. Purchases for the NERIAD Fund for the month of October 2023 consisted of one US Treasury Bill for $146,082 (maturity date April 25,2024), and one US Treasury Bill for $240,766 (maturity date June 13, 2024). Maturities for the month of October 2023 included one US Treasury Note for $1,490,918. Partial maturities (principal paid down) for the month of October 2023 included one GM Financial Auto Receivables 2022-1 A3 for $9,220, one John Deere Owner Trust 2022-A A3 for $5,342, one John Deere Owner Trust 2021-A A3 for $11,272, one John Deere Owner Trust 2021-B A3 for $12,080, one Mercedes-Benz Auto Lease Trust 2021-B A3 for $32,862, one Toyota Auto Receivables Trust 2021-B A3 for $46,854, one Toyota Auto Receivables October 2023 Treasurer’s Report 2 December 19, 2023 Trust 2021-D A3 for $13,122, one Honda Auto Receivables Trust 2021-4 A3 for $14,272, and one BMW Vehicle Lease Trust 2022-1 A3 for $22,486. Maturities for the NERIAD Fund for the month of October 2023 included one US Treasury Bill for $146,387. The Town’s net cash position changed from $10,915,168 to $12,895,619 during the month of October 2023. This consisted of operating revenues in excess of operating expenses of $311,511, net funds invested of -$1,658,428, premium/discount recognition of $22,672 and interest received of $374,688. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the October 2023 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: October 2023 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary October 31, 2023 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 43,400,000$ 42,788,463$ 41,168,157$ 41% 1.96% Federal Agency Issues 22,400,000 22,439,920 21,793,794 22% 2.34% Cash Equivalents 12,895,619 12,895,619 12,895,619 13% 3.47% Collateralized Mortgage Obligation 4,720,000 4,545,386 4,401,221 4% 4.39% Asset-Backed Securities 5,348,589 5,347,801 5,227,081 5% 2.71% Commercial Paper 0 0 0 0% 0.00% Negotiable CD 0 0 0 0% 0.00% Supranational 2,605,000 2,632,292 2,509,435 2% 0.46% US Corporate 13,345,000 13,245,166 12,923,979 13% 2.60% Total / Weighted Average 104,714,208$ 103,894,647$ 100,919,286$ 100% 2.43% Maturities 0 - 30 Days 16,197,828$ 16% 31-60 2,345,263 2% 61 - 90 1,667,889 2% 91 - 120 1,687,279 2% 121 - 180 4,377,867 4% 181 - 270 8,466,563 8% 271 - 365 6,284,139 6% 1 - 2 Years 27,932,908 28% 2 - 3 16,824,502 17% 3 - 5 15,135,048 15% Over 5 Years 0 0% 100,919,286$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary October 31, 2023 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 1,640,102$ 1,640,102$ 1,640,102$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 438,099$ 438,099$ 438,099$ 100% Total 438,099$ 438,099$ 438,099$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 900,000 870,168 880,529 71% Cash Equivalents 357,426 357,426 357,426 29% Subtotal 1,257,426$ 1,227,594$ 1,237,955$ 100% Total 1,257,426$ 1,227,594$ 1,237,955$ 100% SUMMARY TOTAL Town Funds 104,714,208$ 103,894,647$ 100,919,286$ Trust Fund 1,640,102 1,640,102 1,640,102 CDA/Successor Agency 438,099 438,099 438,099 NERIAD 1,257,426 1,227,594 1,237,955 Summary Total 108,049,835$ 107,200,442$ 104,235,442$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 103,572,605$ 1,704,686$ 436,610$ 1,223,776$ 106,937,677$ Purchases, at cost - - US Treasury Bill 146,082 146,082 US Treasury Bill 240,766 240,766 Sales/Maturations/Call - US Treasury Note (1,490,918) (1,490,918) US Treasury Bill (146,387) (146,387) Redemption (167,510) (167,510) Premium/Discount 22,672 22,672 Interest Received 374,688 1,490 750 376,928 Net change in Cash 1,583,110 (64,584) - (237,393) 1,281,132 Realized gains (losses) - Ending Balance, at cost 103,894,647$ 1,640,102$ 438,099$ 1,227,594$ 107,200,442$ October 31, 2023 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 FHLMC Note 11/03/2020 11/06/2023 1,455,000 1,453,691 1,453,968 0.28% 4,074 FNMA Note 11/24/2020 11/27/2023 1,500,000 1,499,160 1,494,379 0.27% 4,050 FHLMC Note 12/09/2020 12/04/2023 1,500,000 1,499,610 1,492,500 0.26% 3,900 FNMA Note 03/24/2020 02/05/2024 1,700,000 1,808,052 1,687,279 0.82% 13,940 FHLB Note 03/03/2020 03/08/2024 1,500,000 1,560,525 1,480,404 0.85% 12,750 FHLB Note 0801/2022 11/08/2024 900,000 858,798 859,519 3.11% 27,990 FHLB Note 07/27/2022 12/20/2024 1,000,000 950,740 950,803 3.15% 31,500 FFCB Note 01/06/2022 01/06/2025 595,000 593,661 566,139 1.20% 7,140 FFCB Note 02/17/2022 02/14/2025 750,000 748,365 717,261 1.83% 13,725 FFCB Note 02/28/2022 02/14/2025 750,000 748,057 716,966 1.83% 13,725 FFCB Note 03/14/2022 02/25/2025 750,000 743,441 716,206 2.06% 15,450 FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 964,371 2.97% 29,700 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 917,468 1.17% 11,700 FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 1,967,002 4.42% 88,400 FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,481,543 4.58% 68,700 FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,457,043 3.66% 54,900 FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,429,281 3.76% 56,400 FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,441,662 4.49% 67,350 Subtotal 22,400,000$ 22,439,920$ 21,793,794$ 2.34% 525,394$ Collateralized Mortgage Obligation FHLMC K063 06/06/2023 01/25/2027 1,000,000 965,625 943,722 4.48% 44,800 FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 927,422 4.28% 42,800 FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 927,295 4.00% 40,000 FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 665,536 4.34% 31,248 FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 937,246 4.88% 48,800 Subtotal 4,720,000$ 4,545,386$ 4,401,221$ 4.39% 207,648$ October 31, 2023 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, 2023 U.S. Treasury Obligations U.S. Treasury Notes 01/08/2021 12/15/2023 750,000 747,861 745,251 0.22% 1,650 U.S. Treasury Notes 04/14/2021 04/15/2024 1,000,000 1,000,352 977,344 0.36% 3,600 U.S. Treasury Notes 07/27/2022 04/30/2024 1,000,000 981,914 982,852 3.06% 30,600 U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,215,235 0.36% 4,500 U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,452,187 0.33% 4,950 U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,648 1,447,441 0.38% 5,700 U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 965,820 0.26% 2,600 U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,266 1,339,461 0.44% 6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,298,531 0.45% 6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,429,629 0.80% 12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,637 809,691 1.39% 11,815 U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,439,004 2.03% 30,450 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,428,926 0.40% 6,000 U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 946,680 1.43% 14,300 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,262,936 0.66% 8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 964,236 0.33% 3,300 U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 897,248 2.74% 27,400 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,388,145 0.53% 7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,383,516 0.56% 8,400 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,240,470 1.06% 14,310 U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,420,196 2.96% 44,400 U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,442,813 2.96% 44,400 U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,537,125 2.87% 45,920 U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,608,095 3.05% 51,850 U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,046,032 3.21% 35,310 U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,689,539 3.00% 54,000 U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,503,750 3.43% 54,880 U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,825,000 4.09% 81,800 U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,343,006 4.01% 58,145 U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,418,847 4.01% 60,150 U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,502,501 3.59% 57,440 U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,216,650 4.44% 55,500 Subtotal 43,400,000$ 42,788,463$ 41,168,157$ 1.96% 854,465$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)482,970 482,970 482,970 4.86% 23,472 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)357,908 357,908 357,908 4.86% 17,394 Bank of New York 2,824,241 2,824,241 2,824,241 4.24% 119,748 US Bank 1,403,810 1,403,810 1,403,810 0.00% 23 LAIF 7,826,688 7,826,688 7,826,688 3.67% 287,239 Subtotal 12,895,619$ 12,895,619$ 12,895,619$ 3.47% 447,877 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, 2023 Asset-Backed Securities Mercedes-Benz Auto Lease Trust 2021-B A3 06/22/2021 11/15/2024 108,186 108,177 107,512 0.40% 433 BMW Vehicle Lease Trust 2022-1-A3 01/11/2022 03/25/2025 115,012 114,995 113,914 1.11% 1,277 GM Financial Auto Lease Trust 2022-2 A3 05/30/2022 06/20/2025 450,000 449,953 445,285 3.45% 15,525 John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 98,916 98,896 96,786 0.37% 366 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 508,415 508,361 494,897 0.26% 1,322 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 208,584 208,540 201,474 0.89% 1,856 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 216,797 216,778 209,293 0.52% 1,127 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 198,795 198,791 191,546 0.71% 1,411 Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 425,000 424,936 410,134 1.89% 8,033 BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 300,000 299,984 292,876 3.23% 9,690 John Deere Owner Trust 2022-A A3 03/10/2022 09/16/2026 324,657 324,586 315,039 2.34% 7,597 Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 595,000 594,977 574,774 2.23% 13,269 GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 159,227 159,213 153,280 1.27% 2,022 GM Financial Auto Leasing 2023-3 A3 08/08/2023 11/20/2026 210,000 209,975 208,104 5.45% 11,445 GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 260,000 259,946 252,943 3.13% 8,138 BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 175,000 174,969 174,318 5.54% 9,695 Chase Issuance Trust 23-A1 A 09/07/2023 09/15/2028 995,000 994,724 984,906 5.23% 52,039 Subtotal 5,348,589$ 5,347,801$ 5,227,081$ 2.71% 145,244$ Supranational Intl. Bank Recon & Development Note 11/17/2020 11/24/2023 355,000 354,237 353,861 0.32% 1,136 Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,194,771 0.52% 6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 960,803 0.46% 4,600 Subtotal 2,605,000$ 2,632,292$ 2,509,435$ 0.46% 12,236$ US Corporate American Honda Finance Note 08/19/2019 01/12/2024 950,000 1,008,634 945,688 2.07% 19,665 John Deere Capital Corp Note 03/01/2021 01/17/2024 615,000 614,564 608,287 0.47% 2,891 Charles Schwab Corp Callable Note 11/17/2021 03/18/2024 1,000,000 996,020 979,937 0.92% 9,200 Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 557,379 0.69% 3,933 Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 416,171 0.69% 2,967 Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 879,699 0.50% 4,525 John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 523,623 0.49% 2,646 Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 370,057 0.52% 2,002 MasterCard Inc Callable Note 1x 02/25/2022 02/03/0225 1,000,000 999,010 955,731 2.03% 20,300 Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 469,186 2.04% 10,200 JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 724,691 2.03% 15,225 Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 452,910 3.13% 14,711 Wal-Mart Stores Note 09/26/2022 02/06/2026 700,000 685,776 683,819 4.64% 32,480 Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 959,576 4.28% 42,800 State Street Bank Callable Note Cont 02/02/2025 02/06/2026 265,000 265,000 250,453 2.80% 7,420 Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 717,803 4.27% 32,025 Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 511,862 5.07% 26,111 Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 992,270 5.48% 54,800 Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 924,837 4.43% 44,300 Subtotal 13,345,000$ 13,245,166$ 12,923,979$ 2.60% 348,200$ TOTAL 104,714,208$ 103,894,647$ 100,919,286$ 2.43% 2,541,064$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF)Page 6 Town of Danville Treasurer's Report of Investments - Detail October 31, 2023 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 1,640,102 1,640,102 1,640,102 3.67% 60,192 TOTAL 1,640,102$ 1,640,102$ 1,640,102$ 3.67% $60,192 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail October 31, 2023 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 45,704 45,704 45,704 3.67% 1,677 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs) 391,674 391,674 391,674 4.86% 19,035 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs) 590 590 590 4.86% 29 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs) 132 132 132 4.86% 6 Subtotal 438,099$ 438,099$ 438,099$ 4.74% 20,748$ TOTAL 438,099$ 438,099$ 438,099$ 4.74% 20,748$ 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 3/20/2023 12/15/2023 250,000 242,148 248,417 4.51% 11,275 U.S. Treasury Note 6/28/2023 3/15/2024 250,000 241,172 245,264 5.39% 13,475 U.S. Treasury Bill 10/30/2023 4/25/2024 150,000 146,082 146,082 5.53% 8,295 U.S. Treasury Bill 10/2/2023 6/13/2024 250,000 240,766 240,766 5.47% 13,675 Subtotal 900,000$ 870,168$ 880,529$ 5.19% 46,720$ Cash Equivalents LAIF - improvement fund 330,913 330,913 330,913 3.67% 12,145 Bank of New York-Improvement fd 26,513 26,513 26,513 4.24% 1,124 Subtotal 357,426$ 357,426$ 357,426$ 3.71% 13,269$ Total 1,257,426$ 1,227,594$ 1,237,955$ 4.77% 59,989$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) October 31, 2023 Page 9