HomeMy WebLinkAbout021825-06.3
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ADMINISTRATIVE STAFF REPORT 6.3
TO: Mayor and Town Council February 18, 2025
SUBJECT: December 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 December 2024:
Nov Dec Nov Dec
2024 2024 2024 2024
Town Funds $107,679,281 $110,408,369 $108,194,073 $110,694,223
Trust Funds 3,260,950 3,041,010 3,260,950 3,041,010
Assessment & SA 1,586,197 1,596,532 1,608,544 1,614,641
Total Cash & Investments $112,526,428 $115,045,911 $113,063,567 $115,349,874
Total Cash & Investments
Year-to-Year Comparison
2023 $107,404,447 $114,402,745 $105,302,397 $113,146,333
Cost Basis Market Value
Purchases for the month of December 2024 consisted of one Federal Home Loan
Mortgage Corporation for $974,922 (maturity date January 25, 2028), one U.S. Treasury
for $1,711,445 (maturity date May 31, 2028), and one U.S. Treasury for $1,004,102
(maturity date August 31, 2028).
Purchases for the NERIAD Fund for the month of December 2024 consisted of one U.S.
Treasury for $249,385 (maturity date December 15, 2025).
Maturities for the month of December 2024 included one U.S. Treasury for $840,637, one
Federal Home Loan Banks for $950,740, and one U.S. Treasury for $1,488,633.
December 2024 Treasurer’s Report 2 February 18, 2025
Partial maturities (principal paid down) for the month of December 2024 included one
Federal Home Loan mortgage Corporation K-069 A2 for $1,944, one John Deere Owner
Trust 2021-B A3 for $7,828, one Toyota Auto Receivables Trust 2021-D A3 for $9,307, one
Honda Auto Receivables Trust 2022-1 A3 for $19,453, one Hyundai Auto Receivables
Trust 2022-A A3 for $28,140, one John Deere Owner Trust 2022 A3 for $13,173, one GM
Financial Auto Receivables 2022-1 A3 for $7,191, one GM Financial Auto Receivables
2022-2 A3 for $11,609, one Honda Auto Receivables Trust 2021-4 A3 for $9,563, and one
BMW Vehicle Lease Trust 2022-A A3 for $13,473.
Maturities for the NERIAD Fund for the month of December 2024 included one U.S.
Treasury for $242,344.
The Town’s net cash position changed from $12,206,474 to $14,646,697 during the month
of December 2024. This consisted of operating revenues in excess of operating expenses
of $2,413,064, net funds invested of $288,778, premium/discount recognition of $77,733
and interest received of $238,204.
Cash requirements have been projected for the next 12 months, and the Town is in a
position to meet its cash requirements.
All investments that the Town owns are in compliance with the California Government
Code and the Town’s Investment Policy.
PUBLIC CONTACT
Posting of the meeting agenda serves as notice to the general public.
RECOMMENDATION
Accept the December 2024 Month End Treasurer’s Report.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Joseph A. Calabrigo
Town Manager
Attachment: December 2024 Month End Treasurer’s Report
Town of Danville
Treasurer's Report of Investments - Summary
December 31, 2024
Yield to
Description Par Value Cost Market Value % Total Maturity
TOWN FUNDS
U.S. Treasury Obligations 45,600,000$ 44,590,676$ 44,664,695$ 40%3.26%
Federal Agency Issues 21,095,000 21,047,132 20,998,507 19%3.74%
Cash Equivalents 14,646,697 14,646,697 14,646,697 13%4.05%
Collateralized Mortgage Obligation 7,850,308 7,549,281 7,616,103 7%4.48%
Asset-Backed Securities 3,340,496 3,339,950 3,361,084 3%4.52%
Commercial Paper 0 0 0 0%0.00%
Negotiable CD 0 0 0 0%0.00%
Supranational 3,425,000 3,382,970 3,381,140 3%4.30%
US Corporate 16,160,000 15,851,663 16,025,997 14%4.39%
Total / Weighted Average 112,117,501$ 110,408,369$ 110,694,223$ 100%3.78%
Maturities
0 - 30 Days 14,548,459$ 13%
31-60 4,760,512 4%
61 - 90 2,341,809 2%
91 - 120 1,975,896 2%
121 - 180 2,969,268 3%
181 - 270 6,436,443 6%
271 - 365 6,843,584 6%
1 - 2 Years 18,217,343 16%
2 - 3 28,380,800 26%
3 - 5 24,220,109 22%
Over 5 Years 0 0%
110,694,223$ 100%
Total / Weighted Average
Town Funds Weighted Average Quality is AAA
Page 1
Town of Danville
Treasurer's Report of Investments - Summary
December 31, 2024
Description Par Value Cost Market Value % Total
TRUST FUND
Cash Equivalents 3,041,010$ 3,041,010$ 3,041,010$ 100%
CDA/SUCCESSOR AGENCY
Cash Equivalents 482,195$ 482,195$ 482,195$ 100%
Total 482,195$ 482,195$ 482,195$ 100%
ASSESSMENT DISTRICTS
NERIAD
Federal Agency Issues -$ -$ -$ 0%
U.S. Treasury Obligations 950,000 918,142 936,251 83%
Cash Equivalents 196,195 196,195 196,195 17%
Subtotal 1,146,195$ 1,114,337$ 1,132,446$ 100%
Total 1,146,195$ 1,114,337$ 1,132,446$ 100%
SUMMARY TOTAL
Town Funds 112,117,501$ 110,408,369$ 110,694,223$
Trust Fund 3,041,010 3,041,010 3,041,010
CDA/Successor Agency 482,195 482,195 482,195
NERIAD 1,146,195 1,114,337 1,132,446
Summary Total 116,786,901$ 115,045,911$ 115,349,874$
Page 2
Town of Danville
Treasurer's Report of Investments
CDA
Town Funds Trust Funds Successor Agency NERIAD Total
Beginning Balance, at cost 107,679,281$ 3,260,950$ 480,797$ 1,105,400$ 112,526,428$
Purchases, at cost
Federal Home Loan Mortgage Corporation 974,922 974,922
U.S. Treasury 1,711,445 1,711,445
U.S. Treasury 1,004,102 249,385 1,253,487
-
-
- -
Sales/Maturations/Call
U.S. Treasury (840,637) (840,637)
Federal Home Loan Banks (950,740) (950,740)
U.S. Treasury (1,488,633) (242,344)(1,730,977)
Redemption (121,681) (121,681)
Premium/Discount 77,733 77,733
Interest Received 238,204 1,398 467 240,069
Net change in Cash 2,124,373 (219,940) - 1,429 1,905,862
Realized gains (losses)-
Ending Balance, at cost 110,408,369$ 3,041,010$ 482,195$ 1,114,337$ 115,045,911$
December 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
FFCB Note 01/06/2022 01/06/2025 595,000 593,661 594,786 1.20%7,140
FFCB Note 02/17/2022 02/14/2025 750,000 748,365 747,703 1.83%13,725
FFCB Note 02/28/2022 02/14/2025 750,000 748,057 747,395 1.83%13,725
FFCB Note 03/14/2022 02/25/2025 750,000 743,441 746,997 2.05%15,375
FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 994,841 2.97%29,700
FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 974,960 1.17%11,700
FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 2,002,774 4.42%88,400
FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,505,883 4.58%68,700
FFCB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 1,006,414 4.53%45,300
FHLB Note 06/26/2024 06/11/2027 1,000,000 1,001,530 1,007,964 4.57%45,700
FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,506,297 4.41%66,150
FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,764,131 4.73%82,775
FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,497,906 3.66%54,900
FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,476,980 3.76%56,400
FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,480,469 4.49%67,350
FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,500,101 4.74%71,100
FHLB Note 09/17/2024 09/10/2029 1,500,000 1,500,945 1,442,906 3.49%52,350
Subtotal 21,095,000$ 21,047,132$ 20,998,507$ 3.74%790,490$
Collateralized Mortgage Obligation
FHLMC K063 06/06/2023 01/25/2027 1,000,000 965,625 978,348 4.47%44,700
FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 967,102 4.23%42,300
FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 966,652 3.98%39,800
FHLMC K069 A2 12/27/2023 09/25/2027 1,130,308 1,088,231 1,090,281 4.27%48,264
FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 694,397 4.27%30,744
FHLMC K074 A2 12/18/2024 01/25/2028 1,000,000 974,922 970,817 4.45%44,500
FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 974,083 4.85%48,500
FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 974,423 5.31%53,100
Subtotal 7,850,308$ 7,549,281$ 7,616,103$ 4.48%351,908$
U.S. Treasury Obligations
U.S. Treasury Notes 02/24/2021 01/31/2025 1,500,000 1,557,012 1,496,467 0.40%6,000
U.S. Treasury Notes 02/03/2022 02/28/2025 1,000,000 990,820 994,913 1.43%14,300
U.S. Treasury Notes 03/12/2021 03/31/2025 1,350,000 1,342,150 1,337,925 0.66%8,910
U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 1,022,835 0.33%3,300
U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 951,776 2.74%27,400
U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,475,661 0.53%7,950
U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,471,304 0.55%8,250
U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,319,295 4.30%58,050
U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,479,175 2.94%44,100
U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,486,339 2.96%44,400
U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,583,759 2.87%45,920
U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,670,911 3.04%51,680
U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,083,220 3.20%35,200
U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,756,525 2.99%53,820
December 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
December 31, 2024
U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,561,238 3.42%54,720
U.S. Treasury Notes 11/22/2024 07/31/2026 1,750,000 1,749,180 1,752,887 4.40%77,000
U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,912,618 4.09%81,800
U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,396,209 4.00%58,000
U.S. Treasury Notes 05/17/2024 04/15/2027 2,000,000 1,995,469 2,010,033 4.58%91,600
U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,464,820 4.00%60,000
U.S. Treasury Notes 06/21/2024 07/31/2027 2,000,000 1,901,875 1,926,146 4.46%89,200
U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,553,923 3.59%57,440
U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,245,064 4.44%55,500
U.S. Treasury Notes 10/17/2024 01/31/2028 1,300,000 1,284,106 1,270,200 3.90%50,700
U.S. Treasury Notes 09/27/2024 02/15/2028 1,500,000 1,464,141 1,428,984 3.51%52,650
U.S. Treasury Notes 11/08/2024 03/31/2028 1,000,000 982,344 979,423 4.19%41,900
U.S. Treasury Notes 12/30/2024 05/31/2028 1,750,000 1,711,445 1,711,668 4.33%75,775
U.S. Treasury Notes 12/13/2024 08/31/2028 1,000,000 1,004,102 1,000,795 4.25%42,500
U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,722,394 4.66%83,880
U.S. Treasury Notes 09/05/2024 05/31/2029 1,200,000 1,155,984 1,121,962 3.60%43,200
U.S. Treasury Notes 10/29/2024 07/31/2029 1,500,000 1,493,320 1,476,226 4.30%64,500
Subtotal 45,600,000$ 44,590,676$ 44,664,695$ 3.26%1,489,645$
Cash Equivalents
Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)490,254 490,254 490,254 3.92%19,218
Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)378,116 378,116 378,116 3.95%14,936
Bank of New York 144,651 144,651 144,651 0.80%1,157
US Bank 1,019,591 1,019,591 1,019,591 0.00%17
LAIF 12,614,086 12,614,086 12,614,086 4.43%559,309
Subtotal 14,646,697$ 14,646,697$ 14,646,697$ 4.05%594,636
Asset-Backed Securities
Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 40,786 40,778 40,470 0.89%363
John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 39,287 39,283 39,091 0.53%208
Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 41,339 41,338 41,038 0.71%294
Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 134,052 134,032 132,901 1.89%2,534
BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 98,326 98,321 97,879 3.23%3,176
John Deere Owner Trust 2022-A A3 03/10/2022 09/15/2026 96,612 96,590 95,807 2.34%2,261
Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 194,596 194,588 193,139 2.23%4,339
GM Financial Auto Receivables 2022-1 A3 01/11/2022 11/16/2026 45,757 45,753 45,343 1.27%581
GM Financial Auto Leasing 2023-3 A3 08/08/2023 11/20/2026 210,000 209,975 211,099 5.38%11,298
GM Financial Securitized ART 2022-2 A3 04/05/2022 02/16/2027 119,741 119,716 118,963 3.13%3,748
BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 175,000 174,969 176,516 5.47%9,573
Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 258,747 6.30%16,065
Chase Issuance Trust 23-A1 A 09/07/2023 09/15/2028 995,000 994,724 1,005,546 5.17%51,442
BMW Vehicle Owner Trust 2024-A A3 06/04/2024 02/26/2029 420,000 419,936 424,955 5.24%22,008
Bank of America Credit Card Trust 2024-1 A 06/06/2024 05/15/2029 475,000 474,974 479,590 4.93%23,418
Subtotal 3,340,496$ 3,339,950$ 3,361,084$ 4.52%151,306$
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
December 31, 2024
Supranational
International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 924,437 4.49%41,533
Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 999,569 4.23%42,300
International Bank For Restruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,457,134 4.23%63,450
Subtotal 3,425,000$ 3,382,970$ 3,381,140$ 4.30%147,283$
US Corporate
MasterCard Inc Callable Note 1x 02/25/2022 03/03/2025 1,000,000 999,010 995,604 2.03%20,300
Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 493,466 2.03%10,150
Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 466,103 3.13%14,711
Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 697,542 4.64%32,480
Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 989,556 4.28%42,800
State Street Bank Callable Note Cont 02/02/2022 02/06/2026 265,000 265,000 263,977 1.75%4,638
Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 740,954 4.27%32,025
Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 950,813 4.68%46,800
Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 519,715 5.07%26,111
Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,013,198 5.48%54,800
Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 449,240 5.88%25,872
Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 965,219 4.42%44,200
Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 364,488 5.13%18,468
JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 409,266 5.11%20,696
John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 1,001,404 4.53%45,300
Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 1,007,300 4.81%48,100
State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,073,864 4.99%53,144
Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,010,182 4.89%48,900
Blackrock Funding Inc 07/17/2024 07/26/2027 690,000 689,979 691,570 4.60%31,740
Amazon.com Inc 07/10/2024 08/22/2027 1,000,000 954,920 965,519 4.73%47,300
Visa Inc 08/19/2024 09/15/2027 1,000,000 960,360 957,017 4.14%41,400
Subtotal 16,160,000$ 15,851,663$ 16,025,997$ 4.39%709,933$
TOTAL 112,117,501$ 110,408,369$ 110,694,223$ 3.78%4,235,201$
Source:
Chandler Asset Management
US Bank
Local Agency Investment Fund (LAIF)
Page 6
Town of Danville
Treasurer's Report of Investments - Detail
December 31, 2024
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF 3,041,010 3,041,010 3,041,010 4.43%134,838
TOTAL 3,041,010$ 3,041,010$ 3,041,010$ 4.43% $134,838
Source:
Local Agency Investment Fund (LAIF)
Trust Fund
Page 7
Town of Danville
Treasurer's Report of Investments - Detail
December 31, 2024
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF - redemption fund 69,203 69,203 69,203 4.43%3,068
Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)379,922 379,922 379,922 3.90%14,817
Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)662 662 662 3.95%26
Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)32,407 32,407 32,407 3.95%1,280
Subtotal 482,195$ 482,195$ 482,195$ 3.98%19,192$
TOTAL 482,195$ 482,195$ 482,195$ 3.98%19,192$
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 4/26/2024 3/20/2025 200,000 191,044 198,213 5.21%10,420
U.S. Treasury Bill 6/13/2024 6/12/2025 250,000 237,837 245,373 5.08%12,700
U.S. Treasury Bill 9/5/2024 9/4/2025 250,000 239,876 243,088 4.20%10,500
U.S. Treasury Bill 12/16/2024 12/15/2025 250,000 249,385 249,577 4.26%10,650
Subtotal 950,000$ 918,142$ 936,251$ 4.66%44,270$
Cash Equivalents
LAIF - improvement fund 167,631 167,631 167,631 4.43%7,433
Bank of New York-Improvement fd 28,564 28,564 28,564 0.80%229
Subtotal 196,195$ 196,195$ 196,195$ 3.90%7,661$
Total 1,146,195$ 1,114,337$ 1,132,446$ 4.53%51,931$
Source:
Chandler Asset Management
BNY Trust Company
Local Agency Investment Fund (LAIF)
Northeast Roadway Improvement Assessment District (NERIAD)
December 31, 2024
Page 9