HomeMy WebLinkAbout061824-06.3
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ADMINISTRATIVE STAFF REPORT 6.3
TO: Mayor and Town Council June 18, 2024
SUBJECT: April 2024 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 April 2024:
March April March April
2024 2024 2024 2024
Town Funds $109,301,370 $116,386,655 $108,168,216 $114,781,726
Trust Funds 1,810,502 1,735,658 1,810,502 1,735,658
Assessment & SA 1,575,199 1,522,817 1,588,856 1,535,720
Total Cash & Investments $112,687,071 $119,645,130 $111,567,574 $118,053,104
Total Cash & Investments
Year-to-Year Comparison
2023 $110,194,401 $114,025,484 $107,394,456 $111,391,330
Cost Basis Market Value
Purchases for the month of April 2024 consisted of one United States Treasury Note for
$1,687,078 (maturity date November 15, 2028), and one Federal Home Loan Banks Note
for $1,484,775 (maturity date March 9, 2029).
Purchases for the NERIAD Fund for the month of April 2024 consisted of one US Treasury
Note for $191,045 (maturity date March 20, 2025).
Maturities for the month of April 2024 included one United States Treasury Note for
$1,000,352 and one United States Treasury Note for $981,914.
Partial maturities (principal paid down) for the month of April 2024 included one Toyota
Auto Receivables Trust 2021-B A3 for $42,403, one John Deere Owner Trust 2021 A3 for
April 2024 Treasurer’s Report 2 June 18, 2024
$7,139, one John Deere Owner Trust 2021-B A3 for $14,577, one Toyota Auto Receivables
Trust 2021-D A3 for $11,988, one Honda Auto Receivables Trust 2022-1 A3 for $25,439,
one Hyundai Auto Receivables Trust 2022-A A3 for $34,919, one John Deere Owner Trust
2022 A3 for $14,987, one GM Financial Securitized ART 2022-1 A3 for $8,798, one GM
Financial Auto Lease Trust 2022-2 A3 for $14,247, one GM Financial Auto Lease Trust
2022-2 A3 for $69,999, one Honda Auto Receivables Trust 2021-4 A3 for $12,729, and one
BMW Vehicle Owner Trust 2022-A A3 for $17,479.
Maturities for the NERIAD Fund for the month of April 2024 included one United States
Treasury Note for $146,082.
The Town’s net cash position changed from $16,100,815 to $22,271,187 during the month
of April 2024. This consisted of operating expenses in excess of operating revenues of -
$6,675,279, net funds invested of $914,883, premium/discount recognition of $21,683 and
interest received of $388,293.
Cash requirements have been projected for the next 12 months, and the Town is in a
position to meet its cash requirements.
All investments that the Town owns are in compliance with the California Government
Code and the Town’s Investment Policy.
PUBLIC CONTACT
Posting of the meeting agenda serves as notice to the general public.
RECOMMENDATION
Accept the April 2024 Month End Treasurer’s Report.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Joseph A. Calabrigo
Town Manager
Attachment: April 2024 Month End Treasurer’s Report
Town of Danville
Treasurer's Report of Investments - Summary
April 30, 2024
Yield to
Description Par Value Cost Market Value % Total Maturity
TOWN FUNDS
U.S. Treasury Obligations 42,450,000$ 41,745,414$ 40,812,855$ 36%2.12%
Federal Agency Issues 20,495,000 20,354,195 20,056,728 17%3.66%
Cash Equivalents 22,271,187 22,271,187 22,271,187 19%3.74%
Collateralized Mortgage Obligation 6,860,000 6,583,690 6,490,449 6%4.48%
Asset-Backed Securities 3,955,281 3,954,653 3,905,624 3%3.35%
Commercial Paper 0 0 0 0%0.00%
Negotiable CD 0 0 0 0%0.00%
Supranational 5,675,000 5,661,025 5,525,751 5%2.79%
US Corporate 16,050,000 15,816,491 15,719,132 14%3.17%
Total / Weighted Average 117,756,468$ 116,386,655$ 114,781,726$ 100%3.05%
Maturities
0 - 30 Days 25,420,236$ 22%
31-60 2,027,647 2%
61 - 90 1,484,854 1%
91 - 120 379,792 0%
121 - 180 4,568,469 4%
181 - 270 7,512,689 7%
271 - 365 8,782,469 8%
1 - 2 Years 21,495,281 19%
2 - 3 19,809,776 17%
3 - 5 23,300,513 20%
Over 5 Years 0 0%
114,781,726$ 100%
Total / Weighted Average
Town Funds Weighted Average Quality is AAA
Page 1
Town of Danville
Treasurer's Report of Investments - Summary
April 30, 2024
Description Par Value Cost Market Value % Total
TRUST FUND
Cash Equivalents 1,735,658$ 1,735,658$ 1,735,658$ 100%
CDA/SUCCESSOR AGENCY
Cash Equivalents 426,493$ 426,493$ 426,493$ 100%
Total 426,493$ 426,493$ 426,493$ 100%
ASSESSMENT DISTRICTS
NERIAD
Federal Agency Issues -$ -$ -$ 0%
U.S. Treasury Obligations 950,000 915,359 928,262 84%
Cash Equivalents 180,965 180,965 180,965 16%
Subtotal 1,130,965$ 1,096,324$ 1,109,227$ 100%
Total 1,130,965$ 1,096,324$ 1,109,227$ 100%
SUMMARY TOTAL
Town Funds 117,756,468$ 116,386,655$ 114,781,726$
Trust Fund 1,735,658 1,735,658 1,735,658
CDA/Successor Agency 426,493 426,493 426,493
NERIAD 1,130,965 1,096,324 1,109,227
Summary Total 121,049,585$ 119,645,130$ 118,053,104$
Page 2
Town of Danville
Treasurer's Report of Investments
CDA
Town Funds Trust Funds Successor Agency NERIAD Total
Beginning Balance, at cost 109,301,370$ 1,810,502$ 482,793$ 1,092,406$ 112,687,072$
Purchases, at cost
U.S. Treasury Note 1,687,078 1,687,078
Federal Home Loan Bank Note 1,484,775 1,484,775
U.S. Treasury Note 191,045 191,045
-
- -
- -
Sales/Maturations/Call
U.S. Treasury Note (1,000,352) (1,000,352)
U.S. Treasury Note (981,914) (981,914)
U.S. Treasury Note (146,082)(146,082)
Redemption (274,704) (274,704)
Premium/Discount 21,683 21,683
Interest Received 388,293 1,527 400 390,220
Net change in Cash 5,760,426 (74,844) (57,828) (41,445)5,586,308
Realized gains (losses)-
Ending Balance, at cost 116,386,655$ 1,735,658$ 426,493$ 1,096,324$ 119,645,130$
April 30, 2024
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 08/01/2022 11/08/2024 900,000 858,798 879,783 3.09%27,810
FHLB Note 07/27/2022 12/20/2024 1,000,000 950,740 973,279 3.15%31,500
FFCB Note 01/06/2022 01/06/2025 595,000 593,661 578,667 1.20%7,140
FFCB Note 02/17/2022 02/14/2025 750,000 748,365 729,711 1.83%13,725
FFCB Note 02/28/2022 02/14/2025 750,000 748,057 729,410 1.83%13,725
FFCB Note 03/14/2022 02/25/2025 750,000 743,441 728,750 2.05%15,375
FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 976,560 2.97%29,700
FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 939,342 1.17%11,700
FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 1,973,206 4.42%88,400
FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,484,357 4.58%68,700
FFCB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 991,005 4.53%45,300
FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,481,066 4.41%66,150
FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,734,442 4.73%82,775
FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,467,535 3.66%54,900
FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,449,274 3.76%56,400
FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,456,642 4.49%67,350
FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,483,699 4.74%71,100
Subtotal 20,495,000$ 20,354,195$ 20,056,728$ 3.66%751,750$
Collateralized Mortgage Obligation
FHLMC K063 06/06/2023 01/25/2027 1,000,000 965,625 954,835 4.47%44,700
FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 941,436 4.23%42,300
FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 941,599 3.98%39,800
FHLMC K069 A2 12/27/2023 09/25/2027 1,140,000 1,097,562 1,072,680 4.27%48,678
FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 676,023 4.27%30,744
FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 952,983 4.85%48,500
FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 950,893 5.31%53,100
Subtotal 6,860,000$ 6,583,690$ 6,490,449$ 4.48%307,822$
U.S. Treasury Obligations
U.S. Treasury Notes 05/12/2021 05/15/2024 1,250,000 1,246,094 1,247,530 0.35%4,375
U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,490,376 0.33%4,950
U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,648 1,484,854 0.38%5,700
U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 986,406 0.26%2,600
U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,266 1,374,434 0.44%6,160
U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,324,463 0.45%6,075
U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,463,555 0.80%12,000
U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,637 827,629 1.39%11,815
U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,465,313 2.03%30,450
U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,456,860 0.40%6,000
U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 966,318 1.43%14,300
U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,293,192 0.66%8,910
U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 987,354 0.33%3,300
U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 918,759 2.74%27,400
U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,421,836 0.53%7,950
April 30, 2024
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
April 30, 2024
U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,416,563 0.55%8,250
U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,269,844 1.05%14,175
U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,441,055 2.94%44,100
U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,455,645 2.96%44,400
U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,550,625 2.87%45,920
U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,627,551 3.04%51,680
U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,056,516 3.20%35,200
U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,709,086 2.99%53,820
U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,519,688 3.42%54,720
U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,850,234 4.09%81,800
U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,357,506 4.00%58,000
U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,430,214 4.00%60,000
U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,516,062 3.59%57,440
U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,222,216 4.44%55,500
U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,681,171 4.66%83,880
Subtotal 42,450,000$ 41,745,414$ 40,812,855$ 2.12%900,870$
Cash Equivalents
Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)475,492 475,492 475,492 4.76%22,633
Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)366,648 366,648 366,648 4.80%17,599
Bank of New York 118,940 118,940 118,940 0.59%702
US Bank 2,768,013 2,768,013 2,768,013 0.00%46
LAIF 18,542,094 18,542,094 18,542,094 4.27%792,118
Subtotal 22,271,187$ 22,271,187$ 22,271,187$ 3.74%833,099
Asset-Backed Securities
GM Financial Auto Lease Trust 2022-2 A3 05/30/2022 06/20/2025 138,375 138,361 138,037 3.45%4,774
John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 38,991 38,983 38,592 0.37%144
Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 246,406 246,379 242,832 0.27%665
Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 128,541 128,514 125,491 0.89%1,144
John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 124,289 124,278 121,561 0.53%659
Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 124,935 124,932 122,053 0.71%887
Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 311,828 311,781 304,877 1.89%5,894
BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 220,797 220,786 217,574 3.23%7,132
John Deere Owner Trust 2022-A A3 03/10/2022 09/16/2026 214,148 214,100 209,904 2.34%5,011
Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 441,630 441,613 432,559 2.23%9,848
GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 107,928 107,919 105,439 1.27%1,371
GM Financial Auto Leasing 2023-3 A3 08/08/2023 11/20/2026 210,000 209,975 209,483 5.38%11,298
GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 222,413 222,366 218,381 3.13%6,962
BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 175,000 174,969 174,862 5.47%9,573
Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 255,565 6.30%16,065
Chase Issuance Trust 23-A1 A 09/07/2023 09/15/2028 995,000 994,724 988,414 5.17%51,442
Subtotal 3,955,281$ 3,954,653$ 3,905,624$ 3.35%132,867$
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
April 30, 2024
Supranational
Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,225,955 0.52%6,500
International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 981,675 0.47%4,700
International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 910,259 4.49%41,533
Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 984,128 4.23%42,300
International Bank For Restruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,423,734 4.23%63,450
Subtotal 5,675,000$ 5,661,025$ 5,525,751$ 2.79%158,483$
US Corporate
Amazon.com Inc Callable Note Cont 05/10/2021 05/12/2024 570,000 569,168 571,621 0.69%3,933
Amazon.com Inc Callable Note Cont 12/06/2021 05/12/2024 430,000 424,973 426,805 0.69%2,967
Caterpillar Financial Service Note 05/10/2021 05/17/2024 905,000 903,787 903,094 0.49%4,435
John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 537,271 0.49%2,646
Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 379,792 0.52%2,002
MasterCard Inc Callable Note 1x 02/25/2022 03/03/2025 1,000,000 999,010 972,114 2.03%20,300
Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 478,728 2.03%10,150
JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 746,660 0.76%5,700
Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 457,712 3.13%14,711
Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 688,113 4.64%32,480
Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 970,113 4.28%42,800
State Street Bank Callable Note Cont 02/02/2022 02/06/2026 265,000 265,000 256,380 1.75%4,638
Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 724,700 4.27%32,025
Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 915,234 4.68%46,800
Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 513,357 5.07%26,111
Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,002,469 5.48%54,800
Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 443,809 5.88%25,872
Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 938,130 4.42%44,200
Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 359,903 5.13%18,468
JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 402,309 5.11%20,696
John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 983,867 4.53%45,300
Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 991,573 4.81%48,100
State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,055,378 4.99%53,144
Subtotal 16,050,000$ 15,816,491$ 15,719,132$ 3.17%509,132$
TOTAL 117,756,468$ 116,386,655$ 114,781,726$ 3.05%3,594,022$
Source:
Chandler Asset Management
US Bank
Local Agency Investment Fund (LAIF)
Page 6
Town of Danville
Treasurer's Report of Investments - Detail
April 30, 2024
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF 1,735,658 1,735,658 1,735,658 4.27%74,147
TOTAL 1,735,658$ 1,735,658$ 1,735,658$ 4.27% $74,147
Source:
Local Agency Investment Fund (LAIF)
Trust Fund
Page 7
Town of Danville
Treasurer's Report of Investments - Detail
April 30, 2024
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF - redemption fund 25,633 25,633 25,633 4.27%1,095
Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)400,742 400,742 400,742 4.76%19,075
Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)20 20 20 4.82%1
Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)98 98 98 4.76%5
Subtotal 426,493$ 426,493$ 426,493$ 4.73%20,176$
TOTAL 426,493$ 426,493$ 426,493$ 4.73%20,176$
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 10/2/2023 6/13/2024 250,000 240,766 248,428 5.48%13,700
U.S. Treasury Bill 12/15/2023 9/5/2024 250,000 241,205 245,401 5.05%12625
U.S. Treasury Note 3/14/2024 12/15/2024 250,000 242,344 243,420 5.21%13,025
U.S. Treasury Bill 4/26/2024 3/20/2025 200,000 191,044 191,013 5.21%10,420
Subtotal 950,000$ 915,359$ 928,262$ 5.24%49,770$
Cash Equivalents
LAIF - improvement fund 178,514 178,514 178,514 4.27%7,626
Bank of New York-Improvement fd 2,451 2,451 2,451 0.59%14
Subtotal 180,965$ 180,965$ 180,965$ 4.22%7,641$
Total 1,130,965$ 1,096,324$ 1,109,227$ 5.08%57,411$
Source:
Chandler Asset Management
BNY Trust Company
Local Agency Investment Fund (LAIF)
Northeast Roadway Improvement Assessment District (NERIAD)
April 30, 2024
Page 9