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HomeMy WebLinkAbout101524-06.3 1 ADMINISTRATIVE STAFF REPORT 6.3 TO: Mayor and Town Council October 15, 2024 SUBJECT: August 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 August 2024: July August July August 2024 2024 2024 2024 Town Funds $115,797,882 $114,490,623 $115,827,456 $115,159,403 Trust Funds 1,948,281 1,886,575 1,948,281 1,886,575 Assessment & SA 2,681,474 2,043,421 2,697,893 2,064,981 Total Cash & Investments $120,427,637 $118,420,620 $120,473,630 $119,110,960 Total Cash & Investments Year-to-Year Comparison 2023 $115,536,633 $113,044,895 $112,486,722 $110,184,547 Cost Basis Market Value Purchases for the month of August 2024 consisted of one Visa Inc. for $960,360 (maturity date September 15, 2027). There were no purchases for the NERIAD Fund for the month of August 2024. Maturities for the month of August 2024 included one PACCAR Financial Group for $384,792. Partial maturities (principal paid down) for the month of August 2024 included one Federal Home Loan Mortgage Corporation K-069 A2 3.187 for $1,795, one Toyota Auto Receivables Trust 2021-B A3 for $36,218, one John Deere Owner Trust 2021-A A3 for $8,017, one John Deere Owner Trust 2021-B A3 for $9,917, one Toyota Auto Receivables August 2024 Treasurer’s Report 2 October 15, 2024 Trust 2021-D A3 for $11,040, one Honda Auto Receivables Trust 2022-1 A3 for $23,310, one Hyundai Auto Receivables Trust 2022-A A3 for $31,185, one John Deere Owner Trust 2022-A A3 for $16,462, one GM Financial Auto Receivables 2022-1 A3 for $7,984, one GM Financial Auto Lease Trust 2022-2 A3 for $13,303, one Honda Auto Receivables Trust 2021-4 A3 for $11,392, and one BMW Vehicle Owner Trust 2022-A A3 for $15,677. There were no maturities for NERIAD Fund for the month of August 2024. The Town’s net cash position changed from $21,384,590 to $20,722,780 during the month of August 2024. This consisted of operating expenses in excess of operating revenues of -$487,439, net funds invested of $389,269, premium/discount recognition of $296 and interest received of $214,602. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the August 2024 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: August 2024 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary August 31, 2024 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 41,200,000$ 40,365,668$ 40,400,326$ 35%2.58% Federal Agency Issues 21,495,000 21,355,725 21,596,218 19%3.70% Cash Equivalents 20,722,780 20,722,780 20,722,780 18%4.27% Collateralized Mortgage Obligation 6,857,799 6,581,571 6,721,118 6%4.48% Asset-Backed Securities 3,952,807 3,952,191 3,973,924 3%4.09% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 5,675,000 5,661,025 5,669,226 5%2.79% US Corporate 16,160,000 15,851,663 16,075,811 14%4.39% Total / Weighted Average 116,063,386$ 114,490,623$ 115,159,403$ 100%3.52% Maturities 0 - 30 Days 23,367,164$ 20% 31-60 995,359 1% 61 - 90 3,721,670 3% 91 - 120 1,828,662 2% 121 - 180 5,767,861 5% 181 - 270 6,707,841 6% 271 - 365 7,094,533 6% 1 - 2 Years 18,512,204 16% 2 - 3 26,153,188 23% 3 - 5 21,010,922 18% Over 5 Years 0 0% 115,159,403$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary August 31, 2024 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 1,886,575$ 1,886,575$ 1,886,575$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 946,262$ 946,262$ 946,262$ 100% Total 946,262$ 946,262$ 946,262$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 950,000 912,430 933,990 83% Cash Equivalents 184,729 184,729 184,729 17% Subtotal 1,134,729$ 1,097,159$ 1,118,719$ 100% Total 1,134,729$ 1,097,159$ 1,118,719$ 100% SUMMARY TOTAL Town Funds 116,063,386$ 114,490,623$ 115,159,403$ Trust Fund 1,886,575 1,886,575 1,886,575 CDA/Successor Agency 946,262 946,262 946,262 NERIAD 1,134,729 1,097,159 1,118,719 Summary Total 120,030,953$ 118,420,620$ 119,110,960$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 115,797,882$ 1,948,281$ 1,579,509$ 1,101,965$ 120,427,637$ Purchases, at cost Visa Inc.960,360 960,360 - - - - - - Sales/Maturations/Call PACCAR Financial Group (384,792) (384,792) - - Redemption (186,299) (186,299) Premium/Discount 296 296 Interest Received 214,602 1,605 308 216,515 Net change in Cash (1,911,426) (61,706) (634,852) (5,114)(2,613,098) Realized gains (losses)- Ending Balance, at cost 114,490,623$ 1,886,575$ 946,262$ 1,097,159$ 118,420,620$ August 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 900,000 858,798 892,621 3.09%27,810 FHLB Note 07/27/2022 12/20/2024 1,000,000 950,740 987,858 3.15%31,500 FFCB Note 01/06/2022 01/06/2025 595,000 593,661 587,008 1.20%7,140 FFCB Note 02/17/2022 02/14/2025 750,000 748,365 739,745 1.83%13,725 FFCB Note 02/28/2022 02/14/2025 750,000 748,057 739,441 1.83%13,725 FFCB Note 03/14/2022 02/25/2025 750,000 743,441 738,903 2.05%15,375 FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 987,942 2.97%29,700 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 962,010 1.17%11,700 FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 2,015,102 4.42%88,400 FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,516,711 4.58%68,700 FFCB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 1,013,595 4.53%45,300 FHLB Note 06/26/2024 06/11/2027 1,000,000 1,001,530 1,019,449 4.57%45,700 FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,527,402 4.41%66,150 FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,789,964 4.73%82,775 FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,516,675 3.66%54,900 FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,504,377 3.76%56,400 FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,512,538 4.49%67,350 FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,544,877 4.74%71,100 Subtotal 21,495,000$ 21,355,725$ 21,596,218$ 3.70%797,450$ Collateralized Mortgage Obligation FHLMC K063 06/06/2023 01/25/2027 1,000,000 965,625 981,931 4.47%44,700 FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 972,355 4.23%42,300 FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 975,280 3.98%39,800 FHLMC K069 A2 12/27/2023 09/25/2027 1,137,799 1,095,443 1,107,469 4.27%48,584 FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 701,958 4.27%30,744 FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 990,169 4.85%48,500 FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 991,956 5.31%53,100 Subtotal 6,857,799$ 6,581,571$ 6,721,118$ 4.48%307,728$ U.S. Treasury Obligations U.S. Treasury Notes 09/13/2021 09/15/2024 1,400,000 1,397,266 1,397,741 0.44%6,160 U.S. Treasury Notes 08/06/2021 10/31/2024 1,350,000 1,395,246 1,341,900 0.45%6,075 U.S. Treasury Notes 11/10/2021 11/15/2024 1,500,000 1,497,832 1,487,149 0.80%12,000 U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,637 840,803 1.39%11,815 U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,484,268 2.03%30,450 U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,478,496 0.40%6,000 U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 982,305 1.43%14,300 U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,318,127 0.66%8,910 U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 1,007,521 0.33%3,300 U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 937,526 2.74%27,400 U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,452,996 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,449,023 0.55%8,250 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,300,166 1.05%14,175 U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,466,414 2.94%44,100 August 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 August 31, 2024 U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,479,082 2.96%44,400 U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,577,000 2.87%45,920 U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,660,223 3.04%51,680 U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,077,871 3.20%35,200 U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,750,149 2.99%53,820 U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,557,625 3.42%54,720 U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,909,531 4.09%81,800 U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,403,725 4.00%58,000 U.S. Treasury Notes 05/17/2024 04/15/2027 2,000,000 1,995,469 2,033,047 4.58%91,600 U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,477,969 4.00%60,000 U.S. Treasury Notes 06/21/2024 07/31/2027 2,000,000 1,901,875 1,942,031 4.46%89,200 U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,569,874 3.59%57,440 U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,262,694 4.44%55,500 U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,755,070 4.66%83,880 Subtotal 41,200,000$ 40,365,668$ 40,400,326$ 2.58%1,064,045$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)483,066 483,066 483,066 4.71%22,752 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)372,539 372,539 372,539 4.75%17,696 Bank of New York 180,217 180,217 180,217 1.07%1,928 US Bank 1,284,722 1,284,722 1,284,722 0.00%21 LAIF 18,402,235 18,402,235 18,402,235 4.58%842,638 Subtotal 20,722,780$ 20,722,780$ 20,722,780$ 4.27%885,036 Asset-Backed Securities John Deere Owner Trust 2021-A A3 03/02/2021 09/15/2025 8,879 8,877 8,860 0.37%33 Toyota Auto Receivables Trust 2021-B A3 06/08/2021 11/17/2025 95,731 95,721 95,172 0.27%258 Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 81,499 81,481 80,188 0.89%725 John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 73,570 73,564 72,456 0.53%390 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 80,799 80,798 79,563 0.71%574 Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 217,513 217,480 214,127 1.89%4,111 BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 155,636 155,628 154,184 3.23%5,027 John Deere Owner Trust 2022-A A3 03/10/2022 09/15/2026 153,250 153,217 151,023 2.34%3,586 Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 311,632 311,620 306,976 2.23%6,949 GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 75,432 75,425 74,156 1.27%958 GM Financial Auto Leasing 2023-3 A3 08/08/2023 11/20/2026 210,000 209,975 211,123 5.38%11,298 GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 168,866 168,829 166,797 3.13%5,286 BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 175,000 174,969 176,739 5.47%9,573 Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 260,174 6.30%16,065 Chase Issuance Trust 23-A1 A 09/07/2023 09/15/2028 995,000 994,724 1,011,664 5.17%51,442 BMW Vehicle Owner Trust 2024-A A3 06/04/2024 02/26/2029 420,000 419,936 427,074 5.24%22,008 Bank of America Credit Card Trust 2024-1 A 06/06/2024 03/15/2029 475,000 474,974 483,648 4.93%23,418 Subtotal 3,952,807$ 3,952,191$ 3,973,924$ 4.09%161,700$ 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 August 31, 2024 Supranational Inter-American Dev Bank Note 09/15/2021 09/23/2024 1,250,000 1,249,075 1,246,643 0.52%6,500 International Finance Corp Note 07/29/2021 10/16/2024 1,000,000 1,028,980 995,359 0.47%4,700 International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 933,681 4.49%41,533 Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 1,009,670 4.23%42,300 International Bank For Restruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,483,873 4.23%63,450 Subtotal 5,675,000$ 5,661,025$ 5,669,226$ 2.79%158,483$ US Corporate MasterCard Inc Callable Note 1x 02/25/2022 03/03/2025 1,000,000 999,010 986,445 2.03%20,300 Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 487,974 2.03%10,150 Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 463,923 3.13%14,711 Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 696,497 4.64%32,480 Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 986,468 4.28%42,800 State Street Bank Callable Note Cont 02/02/2022 02/06/2026 265,000 265,000 260,933 1.75%4,638 Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 739,734 4.27%32,025 Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 945,334 4.68%46,800 Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 522,231 5.07%26,111 Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,022,695 5.48%54,800 Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 453,393 5.88%25,872 Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 965,321 4.42%44,200 Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 367,066 5.13%18,468 JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 411,898 5.11%20,696 John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 1,008,904 4.53%45,300 Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 1,016,202 4.81%48,100 State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,081,990 4.99%53,144 Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,020,666 4.89%48,900 Blackrock Funding Inc 07/17/2024 07/26/2027 690,000 689,979 699,904 4.60%31,740 Amazon.com Inc 07/10/2024 08/22/2027 1,000,000 954,920 975,629 4.73%47,300 Visa Inc 08/19/2024 09/15/2027 1,000,000 960,360 962,604 4.14%41,400 Subtotal 16,160,000$ 15,851,663$ 16,075,811$ 4.39%709,933$ TOTAL 116,063,386$ 114,490,623$ 115,159,403$ 3.52%4,084,374$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail August 31, 2024 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 1,886,575 1,886,575 1,886,575 4.58%86,386 TOTAL 1,886,575$ 1,886,575$ 1,886,575$ 4.58% $86,386 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail August 31, 2024 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 47,189 47,189 47,189 4.58%2,161 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)406,732 406,732 406,732 4.38%17,815 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)103 103 103 4.75%5 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)492,238 492,238 492,238 4.75%23,381 Subtotal 946,262$ 946,262$ 946,262$ 4.58%43,362$ TOTAL 946,262$ 946,262$ 946,262$ 4.58%43,362$ 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 12/15/2023 9/5/2024 250,000 241,205 249,928 5.05%12625 U.S. Treasury Note 3/14/2024 12/15/2024 250,000 242,344 247,295 5.21%13,025 U.S. Treasury Bill 4/26/2024 3/20/2025 200,000 191,044 195,221 5.21%10,420 U.S. Treasury Bill 6/13/2024 6/12/2025 250,000 237,837 241,546 5.08%12,700 Subtotal 950,000$ 912,430$ 933,990$ 5.13%48,770$ Cash Equivalents LAIF - improvement fund 168,477 168,477 168,477 4.58%7,715 Bank of New York-Improvement fd 16,252 16,252 16,252 1.07%174 Subtotal 184,729$ 184,729$ 184,729$ 4.27%7,888$ Total 1,134,729$ 1,097,159$ 1,118,719$ 4.99%56,658$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) August 31, 2024 Page 9