HomeMy WebLinkAbout011425-05.3
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ADMINISTRATIVE STAFF REPORT 5.3
TO: Mayor and Town Council January 14, 2025
SUBJECT: November 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 November 2024:
Oct Nov Oct Nov
2024 2024 2024 2024
Town Funds $109,082,092 $107,679,281 $109,509,003 $108,194,073
Trust Funds 3,905,720 3,260,950 3,905,720 3,260,950
Assessment & SA 1,585,820 1,586,197 1,604,905 1,608,544
Total Cash & Investments $114,573,632 $112,526,428 $115,019,628 $113,063,567
Total Cash & Investments
Year-to-Year Comparison
2023 $107,200,442 $107,404,447 $104,235,442 $105,302,397
Purchases for the month of November 2024 consisted of one U.S. Treasury for $982,344
(maturity date May 31, 2028), and one U.S. Treasury for $1,749,180 (maturity date July
31, 2026).
There were no purchases for the NERIAD Fund for the month of November 2024.
Maturities for the month of November 2024 included one Federal Home Loan Banks for
$858,798, and one U.S. Treasury for $1,497,832.
Partial maturities (principal paid down) for the month of November 2024 included one
Federal Home Loan mortgage Corporation K-069 A2 for $1,814, one Toyota Auto
Receivables Trust 2021-B A3 for $28,934, one John Deere Owner Trust 2021-B A3 for
November 2024 Treasurer’s Report 2 January 14, 2024
$11,728, one Toyota Auto Receivables Trust 2021-D A3 for $10,071, one Honda Auto
Receivables Trust 2022-1 A3 for $21,008, one Hyundai Auto Receivables Trust 2022-A A3
for $29,311, one John Deere Owner Trust 2022 A3 for $17,571, one GM Financial Auto
Receivables 2022-1 A3 for $7,357, one GM Financial Auto Receivables 2022-2 A3 for
$12,726, one Honda Auto Receivables Trust 2021-4 A3 for $10,134, and one BMW Vehicle
Owner Trust 2022-A A3 for $14,377.
There were no maturities for NERIAD Fund for the month of November 2024.
The Town’s net cash position changed from $13,819,234 to $12,206,474 during the month
of November 2024. This consisted of operating expenses in excess of operating revenues
of -$1,651,872, net funds invested of $209,863, premium/discount recognition of $43,470
and interest received of $205,505.
Cash requirements have been projected for the next 12 months, and the Town is in a
position to meet its cash requirements.
All investments that the Town owns are in compliance with the California Government
Code and the Town’s Investment Policy.
PUBLIC CONTACT
Posting of the meeting agenda serves as notice to the general public.
RECOMMENDATION
Accept the November 2024 Month End Treasurer’s Report.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Joseph A. Calabrigo
Town Manager
Attachment: November 2024 Month End Treasurer’s Report
Town of Danville
Treasurer's Report of Investments - Summary
November 30, 2024
Yield to
Description Par Value Cost Market Value % Total Maturity
TOWN FUNDS
U.S. Treasury Obligations 45,200,000$ 44,204,398$ 44,321,385$ 41%3.03%
Federal Agency Issues 22,095,000 21,997,872 22,065,422 20%3.80%
Cash Equivalents 12,206,474 12,206,474 12,206,474 11%4.14%
Collateralized Mortgage Obligation 6,852,253 6,576,231 6,671,282 6%4.48%
Asset-Backed Securities 3,460,233 3,459,673 3,482,148 3%4.44%
Commercial Paper 0 0 0 0%0.00%
Negotiable CD 0 0 0 0%0.00%
Supranational 3,425,000 3,382,970 3,397,315 3%4.30%
US Corporate 16,160,000 15,851,663 16,050,047 15%4.39%
Total / Weighted Average 109,398,960$ 107,679,281$ 108,194,073$ 100%3.69%
Maturities
0 - 30 Days 14,053,577$ 13%
31-60 2,089,551 2%
61 - 90 4,721,097 4%
91 - 120 993,157 1%
121 - 180 4,785,300 4%
181 - 270 7,159,706 7%
271 - 365 6,415,274 6%
1 - 2 Years 18,851,672 17%
2 - 3 27,129,253 25%
3 - 5 21,995,486 20%
Over 5 Years 0 0%
108,194,073$ 100%
Total / Weighted Average
Town Funds Weighted Average Quality is AAA
Page 1
Town of Danville
Treasurer's Report of Investments - Summary
November 30, 2024
Description Par Value Cost Market Value % Total
TRUST FUND
Cash Equivalents 3,260,950$ 3,260,950$ 3,260,950$ 100%
CDA/SUCCESSOR AGENCY
Cash Equivalents 480,797$ 480,797$ 480,797$ 100%
Total 480,797$ 480,797$ 480,797$ 100%
ASSESSMENT DISTRICTS
NERIAD
Federal Agency Issues -$ -$ -$ 0%
U.S. Treasury Obligations 950,000 911,101 933,448 83%
Cash Equivalents 194,299 194,299 194,299 17%
Subtotal 1,144,299$ 1,105,400$ 1,127,747$ 100%
Total 1,144,299$ 1,105,400$ 1,127,747$ 100%
SUMMARY TOTAL
Town Funds 109,398,960$ 107,679,281$ 108,194,073$
Trust Fund 3,260,950 3,260,950 3,260,950
CDA/Successor Agency 480,797 480,797 480,797
NERIAD 1,144,299 1,105,400 1,127,747
Summary Total 114,285,006$ 112,526,428$ 113,063,567$
Page 2
Town of Danville
Treasurer's Report of Investments
CDA
Town Funds Trust Funds Successor Agency NERIAD Total
Beginning Balance, at cost 109,082,092$ 3,905,720$ 480,796$ 1,105,024$ 114,573,632$
Purchases, at cost
U.S. Treasury 982,344 982,344
U.S. Treasury 1,749,180 1,749,180
-
-
-
- -
Sales/Maturations/Call
Federal Home Loan Banks (858,798) (858,798)
U.S. Treasury (1,497,832) (1,497,832)
-
Redemption (165,030) (165,030)
Premium/Discount 43,470 43,470
Interest Received 205,505 1,501 376 207,382
Net change in Cash (1,861,650) (644,769) (1,500) (0)(2,507,919)
Realized gains (losses)-
Ending Balance, at cost 107,679,281$ 3,260,950$ 480,797$ 1,105,400$ 112,526,428$
November 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 07/27/2022 12/20/2024 1,000,000 950,740 998,194 3.13%31,500
FFCB Note 01/06/2022 01/06/2025 595,000 593,661 592,980 1.20%7,140
FFCB Note 02/17/2022 02/14/2025 750,000 748,365 745,968 1.83%13,725
FFCB Note 02/28/2022 02/14/2025 750,000 748,057 745,660 1.83%13,725
FFCB Note 03/14/2022 02/25/2025 750,000 743,441 745,045 2.05%15,375
FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 992,975 2.97%29,700
FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 971,393 1.17%11,700
FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 2,002,779 4.42%88,400
FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,507,301 4.58%68,700
FFCB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 1,010,057 4.53%45,300
FHLB Note 06/26/2024 06/11/2027 1,000,000 1,001,530 1,011,515 4.57%45,700
FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,511,875 4.41%66,150
FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,771,657 4.73%82,775
FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,505,834 3.66%54,900
FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,485,118 3.76%56,400
FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,491,499 4.49%67,350
FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,516,013 4.74%71,100
FHLB Note 09/17/2024 09/10/2029 1,500,000 1,500,945 1,459,559 3.49%71,100
Subtotal 22,095,000$ 21,997,872$ 22,065,422$ 3.80%840,740$
Collateralized Mortgage Obligation
FHLMC K063 06/06/2023 01/25/2027 1,000,000 965,625 978,881 4.47%44,700
FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 968,266 4.23%42,300
FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 968,987 3.98%39,800
FHLMC K069 A2 12/27/2023 09/25/2027 1,132,253 1,090,103 1,096,142 4.27%48,347
FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 697,080 4.27%30,744
FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 980,699 4.85%48,500
FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 981,227 5.31%53,100
Subtotal 6,852,253$ 6,576,231$ 6,671,282$ 4.48%307,491$
U.S. Treasury Obligations
U.S. Treasury Notes 01/26/2022 12/15/2024 850,000 840,637 848,908 1.39%11,815
U.S. Treasury Notes 03/15/2022 12/31/2024 1,500,000 1,488,633 1,496,571 2.03%30,450
U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,492,500 0.40%6,000
U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 991,924 1.43%14,300
U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,332,861 0.66%8,910
U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 1,018,933 0.33%3,300
U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 948,145 2.74%27,400
U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,469,543 0.53%7,950
U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,464,873 0.55%8,250
U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,313,561 1.05%14,175
U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,474,805 2.94%44,100
U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,483,371 2.96%44,400
U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,580,350 2.87%45,920
U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,666,332 3.04%51,680
November 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
November 30, 2024
U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,080,277 3.20%35,200
U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,753,172 2.99%53,820
U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,558,875 3.42%54,720
U.S. Treasury Notes 11/22/2024 07/31/2026 1,750,000 1,749,180 1,753,691 4.40%77,000
U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,910,156 4.09%81,800
U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,397,551 4.00%58,000
U.S. Treasury Notes 05/17/2024 04/15/2027 2,000,000 1,995,469 2,015,313 4.58%91,600
U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,468,066 4.00%60,000
U.S. Treasury Notes 06/21/2024 07/31/2027 2,000,000 1,901,875 1,930,234 4.46%89,200
U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,558,438 3.59%57,440
U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,250,147 4.44%55,500
U.S. Treasury Notes 10/17/2024 01/31/2028 1,300,000 1,284,106 1,276,082 3.90%50,700
U.S. Treasury Notes 09/27/2024 02/15/2028 1,500,000 1,464,141 1,438,887 3.51%52,650
U.S. Treasury Notes 11/08/2024 03/31/2028 1,000,000 982,344 984,648 4.19%41,900
U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,735,875 4.66%83,880
U.S. Treasury Notes 09/05/2024 05/31/2029 1,200,000 1,155,984 1,133,625 3.60%43,200
U.S. Treasury Notes 10/29/2024 07/31/2029 1,500,000 1,493,319 1,493,671 4.30%64,500
Subtotal 45,200,000$ 44,204,398$ 44,321,385$ 3.03%1,369,760$
Cash Equivalents
Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)488,594 488,594 488,594 4.09%19,983
Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)376,825 376,825 376,825 4.12%15,525
Bank of New York 119,320 119,320 119,320 0.73%871
US Bank 727,594 727,594 727,594 0.00%12
LAIF 10,494,141 10,494,141 10,494,141 4.48%469,823
Subtotal 12,206,474$ 12,206,474$ 12,206,474$ 4.14%506,215
Asset-Backed Securities
Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 50,350 50,339 49,861 0.89%448
John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 47,115 47,111 46,756 0.53%250
Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 50,646 50,645 50,176 0.71%360
Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 153,505 153,482 151,949 1.89%2,901
BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 111,800 111,794 111,178 3.23%3,611
John Deere Owner Trust 2022-A A3 03/10/2022 09/15/2026 109,785 109,760 108,726 2.34%2,569
Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 222,735 222,727 220,751 2.23%4,967
GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 52,947 52,943 52,375 1.27%672
GM Financial Auto Leasing 2023-3 A3 08/08/2023 11/20/2026 210,000 209,975 211,026 5.38%11,298
GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 131,350 131,323 130,392 3.13%4,111
BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 175,000 174,969 176,564 5.47%9,573
Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 258,999 6.30%16,065
Chase Issuance Trust 23-A1 A 09/07/2023 09/15/2028 995,000 994,724 1,007,339 5.17%51,442
BMW Vehicle Owner Trust 2024-A A3 06/04/2024 02/26/2029 420,000 419,935 425,463 5.24%22,008
Bank of America Credit Card Trust 2024-1 A 06/06/2024 05/15/2029 475,000 474,973 480,593 4.93%23,418
Subtotal 3,460,233$ 3,459,673$ 3,482,148$ 4.44%153,692$
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
November 30, 2024
Supranational
International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 927,297 4.49%41,533
Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 1,003,308 4.23%42,300
International Bank For Restruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,466,710 4.23%63,450
Subtotal 3,425,000$ 3,382,970$ 3,397,315$ 4.30%147,283$
US Corporate
MasterCard Inc Callable Note 1x 02/25/2022 03/03/2025 1,000,000 999,010 993,157 2.03%20,300
Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 492,386 2.03%10,150
Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 465,532 3.13%14,711
Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 697,253 4.64%32,480
Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 987,968 4.28%42,800
State Street Bank Callable Note Cont 02/02/2022 02/06/2026 265,000 265,000 263,343 1.75%4,638
Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 740,258 4.27%32,025
Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 951,592 4.68%46,800
Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 520,048 5.07%26,111
Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,016,101 5.48%54,800
Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 450,331 5.88%25,872
Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 965,881 4.42%44,200
Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 365,011 5.13%18,468
JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 409,776 5.11%20,696
John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 1,004,127 4.53%45,300
Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 1,009,378 4.81%48,100
State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,076,528 4.99%53,144
Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,014,560 4.89%48,900
Blackrock Funding Inc 07/17/2024 07/26/2027 690,000 689,979 694,819 4.60%31,740
Amazon.com Inc 07/10/2024 08/22/2027 1,000,000 954,920 970,622 4.73%47,300
Visa Inc 08/19/2024 09/15/2027 1,000,000 960,360 961,376 4.14%41,400
Subtotal 16,160,000$ 15,851,663$ 16,050,047$ 4.39%709,933$
TOTAL 109,398,960$ 107,679,281$ 108,194,073$ 3.69%4,035,113$
Source:
Chandler Asset Management
US Bank
Local Agency Investment Fund (LAIF)
Page 6
Town of Danville
Treasurer's Report of Investments - Detail
November 30, 2024
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF 3,260,950 3,260,950 3,260,950 4.48%145,993
TOTAL 3,260,950$ 3,260,950$ 3,260,950$ 4.48% $145,993
Source:
Local Agency Investment Fund (LAIF)
Trust Fund
Page 7
Town of Danville
Treasurer's Report of Investments - Detail
November 30, 2024
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF - redemption fund 69,203 69,203 69,203 4.48%3,098
Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)378,637 378,637 378,637 4.08%15,448
Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)549 549 549 4.12%23
Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)32,407 32,407 32,407 4.12%1,335
Subtotal 480,797$ 480,797$ 480,797$ 4.14%19,904$
TOTAL 480,797$ 480,797$ 480,797$ 4.14%19,904$
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 3/14/2024 12/15/2024 250,000 242,344 249,679 5.21%13,025
U.S. Treasury Bill 4/26/2024 3/20/2025 200,000 191,044 197,397 5.21%10,420
U.S. Treasury Bill 6/13/2024 6/12/2025 250,000 237,837 244,389 5.08%12,700
U.S. Treasury Bill 9/5/2024 9/4/2025 250,000 239,876 241,983 4.20%10,500
Subtotal 950,000$ 911,101$ 933,448$ 4.91%46,645$
Cash Equivalents
LAIF - improvement fund 167,636 167,636 167,636 4.48%7,505
Bank of New York-Improvement fd 26,663 26,663 26,663 0.73%195
Subtotal 194,299$ 194,299$ 194,299$ 3.96%7,700$
Total 1,144,299$ 1,105,400$ 1,127,747$ 4.75%54,345$
Source:
Chandler Asset Management
BNY Trust Company
Local Agency Investment Fund (LAIF)
Northeast Roadway Improvement Assessment District (NERIAD)
November 30, 2024
Page 9