HomeMy WebLinkAbout071624-06.3
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ADMINISTRATIVE STAFF REPORT 6.3
TO: Mayor and Town Council July 16, 2024
SUBJECT: May 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 May 2024:
April May April May
2024 2024 2024 2024
Town Funds $116,386,655 $118,069,969 $114,781,726 $116,921,236
Trust Funds 1,735,658 1,901,835 1,735,658 1,901,835
Assessment & SA 1,522,817 1,552,112 1,535,720 1,569,348
Total Cash & Investments $119,645,130 $121,523,916 $118,053,104 $120,392,419
Total Cash & Investments
Year-to-Year Comparison
2023 $114,025,484 $114,687,383 $111,391,330 $111,776,360
Cost Basis Market Value
Purchases for the month of May 2024 consisted of one Caterpillar Financial Services
Corp for $1,002,930 (maturity date May 14, 2027), and one United States Treasury Note
for $1,995,467 (maturity date April 15, 2027).
There were no purchases for the NERIAD Fund for the month of May 2024.
Maturities for the month of May 2024 included one Amazon.com Inc for $994,141, and
one United States Treasury Note for $1,246,094, and one Caterpillar Financial Services
Corp for $903,787.
Partial maturities (principal paid down) for the month of May 2024 included one Toyota
Auto Receivables Trust 2021-B A3 for $40,155, one John Deere Owner Trust 2021 A3 for
May 2024 Treasurer’s Report 2 July 16, 2024
$9,627, one John Deere Owner Trust 2021-B A3 for $20,645, one Toyota Auto Receivables
Trust 2021-D A3 for $11,694, one Honda Auto Receivables Trust 2022-1 A3 for $24,487,
one Hyundai Auto Receivables Trust 2022-A A3 for $33,931, one John Deere Owner Trust
2022 A3 for $18,499, one GM Financial Securitized ART 2022-1 A3 for $8,215, one GM
Financial Auto Lease Trust 2022-2 A3 for $13,700, one GM Financial Auto Lease Trust
2022-2 A3 for $72,274, one Honda Auto Receivables Trust 2021-4 A3 for $12,475, and one
BMW Vehicle Lease Trust 2022-A A3 for $17,033.
There were no maturities for NERIAD Fund for the month of May 2024.
The Town’s net cash position changed from $22,271,187 to $24,382,826 during the month
of May 2024. This consisted of operating revenues in excess of operating expenses of
$1,489,428, net funds invested of -$428,360, premium/discount recognition of $11,010 and
interest received of $182,841.
Cash requirements have been projected for the next 12 months, and the Town is in a
position to meet its cash requirements.
All investments that the Town owns are in compliance with the California Government
Code and the Town’s Investment Policy.
PUBLIC CONTACT
Posting of the meeting agenda serves as notice to the general public.
RECOMMENDATION
Accept the May 2024 Month End Treasurer’s Report.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Joseph A. Calabrigo
Town Manager
Attachment: May 2024 Month End Treasurer’s Report
Town of Danville
Treasurer's Report of Investments - Summary
May 31, 2024
Yield to
Description Par Value Cost Market Value % Total Maturity
TOWN FUNDS
U.S. Treasury Obligations 43,200,000$ 42,494,789$ 41,753,338$ 36%2.28%
Federal Agency Issues 20,495,000 20,354,195 20,170,418 17%3.66%
Cash Equivalents 24,382,826 24,382,826 24,382,826 21%3.62%
Collateralized Mortgage Obligation 6,860,000 6,583,690 6,538,302 6%4.48%
Asset-Backed Securities 3,672,547 3,671,951 3,636,413 3%3.46%
Commercial Paper 0 0 0 0%0.00%
Negotiable CD 0 0 0 0%0.00%
Supranational 5,675,000 5,661,025 5,556,874 5%2.79%
US Corporate 15,145,000 14,921,493 14,883,065 13%3.96%
Total / Weighted Average 119,430,373$ 118,069,969$ 116,921,236$ 100%3.20%
Maturities
0 - 30 Days 26,419,744$ 23%
31-60 1,491,328 1%
61 - 90 381,436 0%
91 - 120 3,601,712 3%
121 - 180 4,666,921 4%
181 - 270 7,517,773 6%
271 - 365 8,049,800 7%
1 - 2 Years 18,811,026 16%
2 - 3 22,505,614 19%
3 - 5 23,475,882 20%
Over 5 Years 0 0%
116,921,236$ 100%
Total / Weighted Average
Town Funds Weighted Average Quality is AAA
Page 1
Town of Danville
Treasurer's Report of Investments - Summary
May 31, 2024
Description Par Value Cost Market Value % Total
TRUST FUND
Cash Equivalents 1,901,835$ 1,901,835$ 1,901,835$ 100%
CDA/SUCCESSOR AGENCY
Cash Equivalents 455,991$ 455,991$ 455,991$ 100%
Total 455,991$ 455,991$ 455,991$ 100%
ASSESSMENT DISTRICTS
NERIAD
Federal Agency Issues -$ -$ -$ 0%
U.S. Treasury Obligations 950,000 915,359 932,595 84%
Cash Equivalents 180,762 180,762 180,762 16%
Subtotal 1,130,762$ 1,096,121$ 1,113,357$ 100%
Total 1,130,762$ 1,096,121$ 1,113,357$ 100%
SUMMARY TOTAL
Town Funds 119,430,373$ 118,069,969$ 116,921,236$
Trust Fund 1,901,835 1,901,835 1,901,835
CDA/Successor Agency 455,991 455,991 455,991
NERIAD 1,130,762 1,096,121 1,113,357
Summary Total 122,918,961$ 121,523,916$ 120,392,419$
Page 2
Town of Danville
Treasurer's Report of Investments
CDA
Town Funds Trust Funds Successor Agency NERIAD Total
Beginning Balance, at cost 116,386,655$ 1,735,658$ 426,493$ 1,096,324$ 119,645,130$
Purchases, at cost
Caterpillar Financial Services Corp 1,002,930 1,002,930
U.S. Treasury Note 1,995,467 1,995,467
U.S. Treasury Note -
-
- -
- -
Sales/Maturations/Call
Amazon.com Inc (994,141) (994,141)
U.S. Treasury Note (1,246,094) (1,246,094)
Caterpillar Financial Services Corp (903,787) (903,787)
Redemption (282,735) (282,735)
Premium/Discount 11,010 11,010
Interest Received 182,841 1,472 288 184,600
Net change in Cash 1,917,823 166,178 28,025 (491)2,111,535
Realized gains (losses)-
Ending Balance, at cost 118,069,969$ 1,901,835$ 455,991$ 1,096,121$ 121,523,916$
May 31, 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 900,000 858,798 882,715 3.09%27,810
FHLB Note 07/27/2022 12/20/2024 1,000,000 950,740 977,300 3.15%31,500
FFCB Note 01/06/2022 01/06/2025 595,000 593,661 580,833 1.20%7,140
FFCB Note 02/17/2022 02/14/2025 750,000 748,365 732,546 1.83%13,725
FFCB Note 02/28/2022 02/14/2025 750,000 748,057 732,245 1.83%13,725
FFCB Note 03/14/2022 02/25/2025 750,000 743,441 731,707 2.05%15,375
FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 979,818 2.97%29,700
FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 944,275 1.17%11,700
FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 1,979,524 4.42%88,400
FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,490,433 4.58%68,700
FFCB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 998,209 4.53%45,300
FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,491,516 4.41%66,150
FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,741,773 4.73%82,775
FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,478,867 3.66%54,900
FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,461,822 3.76%56,400
FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,472,336 4.49%67,350
FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,494,499 4.74%71,100
Subtotal 20,495,000$ 20,354,195$ 20,170,418$ 3.66%751,750$
Collateralized Mortgage Obligation
FHLMC K063 06/06/2023 01/25/2027 1,000,000 965,625 960,344 4.47%44,700
FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 947,869 4.23%42,300
FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 948,274 3.98%39,800
FHLMC K069 A2 12/27/2023 09/25/2027 1,140,000 1,097,562 1,079,078 4.27%48,678
FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 681,617 4.27%30,744
FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 960,283 4.85%48,500
FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 960,837 5.31%53,100
Subtotal 6,860,000$ 6,583,690$ 6,538,302$ 4.48%307,822$
U.S. Treasury Obligations
U.S. Treasury Notes 06/10/2021 06/15/2024 1,500,000 1,496,543 1,497,493 0.33%4,950
U.S. Treasury Notes 07/28/2021 07/15/2024 1,500,000 1,499,648 1,491,328 0.38%5,700
U.S. Treasury Notes 02/09/2021 08/31/2024 1,000,000 1,034,805 989,990 0.26%2,600
U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,266 1,380,449 0.44%6,160
U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,329,289 0.45%6,075
U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,469,751 0.80%12,000
U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,637 830,950 1.39%11,815
U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,469,839 2.03%30,450
U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,462,354 0.40%6,000
U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 970,322 1.43%14,300
U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,299,217 0.66%8,910
U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 991,977 0.33%3,300
U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 923,062 2.74%27,400
U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,428,809 0.53%7,950
U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,424,106 0.55%8,250
May 31, 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
May 31, 2024
U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,276,910 1.05%14,175
U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,446,093 2.94%44,100
U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,460,390 2.96%44,400
U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,555,750 2.87%45,920
U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,633,992 3.04%51,680
U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,060,555 3.20%35,200
U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,717,102 2.99%53,820
U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,527,188 3.42%54,720
U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,862,813 4.09%81,800
U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,366,908 4.00%58,000
U.S. Treasury Notes 05/17/2024 04/15/2027 2,000,000 1,995,469 1,990,313 4.58%91,600
U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,440,352 4.00%60,000
U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,527,375 3.59%57,440
U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,230,615 4.44%55,500
U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,698,046 4.66%83,880
U.S. Treasury Notes
Subtotal 43,200,000$ 42,494,789$ 41,753,338$ 2.28%988,095$
Cash Equivalents
Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)477,342 477,342 477,342 4.75%22,674
Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)368,087 368,087 368,087 4.79%17,631
Bank of New York 741,116 741,116 741,116 2.48%18,380
US Bank 3,747,946 3,747,946 3,747,946 0.00%62
LAIF 19,048,333 19,048,333 19,048,333 4.33%825,174
Subtotal 24,382,826$ 24,382,826$ 24,382,826$ 3.62%883,921
Asset-Backed Securities
GM Financial Auto Lease Trust 2022-2 A3 05/03/2022 06/20/2025 66,101 66,095 65,994 3.45%2,280
John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 29,364 29,358 29,127 0.37%109
Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 206,250 206,228 203,826 0.27%557
Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 116,066 116,042 113,551 0.89%1,033
John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 103,644 103,635 101,517 0.53%549
Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 113,241 113,238 110,791 0.71%804
Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 287,341 287,298 281,301 1.89%5,431
BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 203,767 203,755 200,620 3.23%6,582
John Deere Owner Trust 2022-A A3 03/10/2022 09/16/2026 195,649 195,606 191,949 2.34%4,578
Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 407,699 407,683 399,848 2.23%9,092
GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 99,713 99,705 97,555 1.27%1,266
GM Financial Auto Leasing 2023-3 A3 08/08/2023 11/20/2026 210,000 209,975 209,763 5.38%11,298
GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 208,712 208,668 205,532 3.13%6,533
BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 175,000 174,969 175,120 5.47%9,573
Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 256,548 6.30%16,065
Chase Issuance Trust 23-A1 A 09/07/2023 09/15/2028 995,000 994,723 993,371 5.17%51,442
Subtotal 3,672,547$ 3,671,951$ 3,636,413$ 3.46%127,191$
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
May 31, 2024
Supranational
Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,231,273 0.52%6,500
International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 985,166 0.47%4,700
International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 915,293 4.49%41,533
Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 989,457 4.23%42,300
International Bank For Restruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,435,685 4.23%63,450
Subtotal 5,675,000$ 5,661,025$ 5,556,874$ 2.79%158,483$
US Corporate
John Deere Capital Corp Note 06/07/2021 06/07/2024 540,000 539,325 539,425 0.49%2,646
Paccar Financial Corp Note 08/03/2021 08/09/2024 385,000 384,792 381,436 0.52%2,002
MasterCard Inc Callable Note 1x 02/25/2022 03/03/2025 1,000,000 999,010 975,796 2.03%20,300
Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 480,800 2.03%10,150
JP Morgan Chase & Co Callable Note 05/24/2021 06/01/2025 750,000 750,972 750,000 0.76%5,700
Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 459,501 3.13%14,711
Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 689,873 4.64%32,480
Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 973,304 4.28%42,800
State Street Bank Callable Note Cont 02/02/2022 02/06/2026 265,000 265,000 257,618 1.75%4,638
Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 728,262 4.27%32,025
Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 922,299 4.68%46,800
Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 513,941 5.07%26,111
Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,006,151 5.48%54,800
Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 445,379 5.88%25,872
Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 943,693 4.42%44,200
Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 361,507 5.13%18,468
JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 404,185 5.11%20,696
John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 988,752 4.53%45,300
Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 996,962 4.81%48,100
State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,062,981 4.99%53,144
Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,001,200 4.89%48,900
Subtotal 15,145,000$ 14,921,493$ 14,883,065$ 3.96%599,841$
TOTAL 119,430,373$ 118,069,969$ 116,921,236$ 3.20%3,817,102$
Source:
Chandler Asset Management
US Bank
Local Agency Investment Fund (LAIF)
Page 6
Town of Danville
Treasurer's Report of Investments - Detail
May 31, 2024
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF 1,901,835 1,901,835 1,901,835 4.33%82,388
TOTAL 1,901,835$ 1,901,835$ 1,901,835$ 4.33% $82,388
Source:
Local Agency Investment Fund (LAIF)
Trust Fund
Page 7
Town of Danville
Treasurer's Report of Investments - Detail
May 31, 2024
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF - redemption fund 53,658 53,658 53,658 4.33%2,324
Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)402,214 402,214 402,214 4.47%17,979
Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)20 20 20 4.80%1
Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)98 98 98 4.76%5
Subtotal 455,991$ 455,991$ 455,991$ 4.45%20,309$
TOTAL 455,991$ 455,991$ 455,991$ 4.45%20,309$
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 250,000 240,766 249,634 5.48%13,700
U.S. Treasury Bill 12/15/2023 9/5/2024 250,000 241,205 246,593 5.05%12625
U.S. Treasury Note 3/14/2024 12/15/2024 250,000 242,344 244,397 5.21%13,025
U.S. Treasury Bill 4/26/2024 3/20/2025 200,000 191,044 191,971 5.21%10,420
Subtotal 950,000$ 915,359$ 932,595$ 5.24%49,770$
Cash Equivalents
LAIF - improvement fund 178,073 178,073 178,073 4.33%7,714
Bank of New York-Improvement fd 2,689 2,689 2,689 2.48%67
Subtotal 180,762$ 180,762$ 180,762$ 4.30%7,781$
Total 1,130,762$ 1,096,121$ 1,113,357$ 5.09%57,551$
Source:
Chandler Asset Management
BNY Trust Company
Local Agency Investment Fund (LAIF)
Northeast Roadway Improvement Assessment District (NERIAD)
May 31, 2024
Page 9
