HomeMy WebLinkAbout052025-06.3
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ADMINISTRATIVE STAFF REPORT 6.3
TO: Mayor and Town Council May 20, 2025
SUBJECT: March 2025 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 March 2025:
Feb Mar Feb Mar
2025 2025 2025 2025
Town Funds $115,594,320 $112,817,797 $116,610,324 $114,010,364
Trust Funds 2,294,521 2,079,115 2,294,521 2,079,115
Assessment & SA 1,902,318 1,628,567 1,925,219 1,644,966
Total Cash & Investments $119,791,160 $116,525,479 $120,830,065 $11,734,444
Total Cash & Investments
Year-to-Year Comparison
2023/2024 $114,606,642 $112,687,071 $113,273,669 $111,567,574
Cost Basis Market Value
Purchases for the month of March 2025 consisted of one U.S. Treasury for $1,923,750
(maturity date August 31, 2029), one Apple Inc. for $457,525 (maturity date September
11, 2029), one John Deer Owner Trust 2025 A3 for $469,970 (maturity date September 17,
2029), one Federal Home Loan Mortgage Corp. K-090 A2 for $966,016 (maturity date
February 25, 2029).
Purchases for the NERIAD Fund for the month of March 2025 consisted of one U.S.
Treasury for $217,582 (maturity date March 31, 2026).
Maturities for the month of March 2025 included one Master Card Inc. for $999,010, and
one U.S. Treasury for $1,342,150.
March 2025 Treasurer’s Report 2 May 20, 2025
Partial maturities (principal paid down) for the month of March 2025 included one
Federal Home Loan mortgage Corporation K-069 A2 for $2,210, one John Deere Owner
Trust 2021-B A3 for $9,149, one Toyota Auto Receivables Trust 2021-D A3 for $8,674, one
Honda Auto Receivables Trust 2022-1 A3 for $17,822, one Hyundai Auto Receivables
Trust 2022-A A3 for $24,725, one John Deere Owner Trust 2022-A A3 for $7,387, one GM
Financial Auto Receivables 2022-1 A3 for $6,714, one GM Financial Auto Receivables
2022-2 A3 for $11,051, one GM Financial Auto Leasing 2023-3 A3 for $9,502, one Honda
Auto Receivables Trust 2021-4 A3 for $8,750, and one BMW Vehicle Owner Trust 2022-A
A3 for $11,851, and one BMW Vehicle Owner Trust 2023-A A3 for $9,811.
Maturities for the NERIAD Fund for the month of March 2025 included one U.S. Treasury
for $191,044.
The Town’s net cash position changed from $21,126,395 to $17,001,320 during the month
of March 2025. This consisted of operating expenses in excess of operating revenues of
-$3,059,467, net funds invested of $1,348,455, premium/discount recognition of $17,892
and interest received of $264,955.
Cash requirements have been projected for the next 12 months, and the Town is in a
position to meet its cash requirements.
All investments that the Town owns are in compliance with the California Government
Code and the Town’s Investment Policy.
PUBLIC CONTACT
Posting of the meeting agenda serves as notice to the general public.
RECOMMENDATION
Accept the March 2025 Month End Treasurer’s Report.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Joseph A. Calabrigo
Town Manager
Attachment: March 2025 Month End Treasurer’s Report
Town of Danville
Treasurer's Report of Investments - Summary
March 31, 2025
Yield to
Description Par Value Cost Market Value % Total Maturity
TOWN FUNDS
U.S. Treasury Obligations 45,500,000$ 44,384,355$ 44,949,137$ 39%3.57%
Federal Agency Issues 18,250,000 18,213,608 18,334,497 16%4.05%
Cash Equivalents 17,001,320 17,001,320 17,001,320 15%3.94%
Collateralized Mortgage Obligation 8,844,439 8,509,646 8,669,646 8%4.46%
Asset-Backed Securities 5,040,734 5,039,970 5,076,256 4%4.81%
Commercial Paper 0 0 0 0%0.00%
Negotiable CD 0 0 0 0%0.00%
Supranational 3,425,000 3,382,970 3,414,705 3%4.30%
US Corporate 16,645,000 16,285,928 16,564,803 15%4.60%
Total / Weighted Average 114,706,493$ 112,817,797$ 114,010,364$ 100%4.00%
Maturities
0 - 30 Days 18,329,344$ 16%
31-60 1,510,166 1%
61 - 90 1,491,218 1%
91 - 120 1,485,982 1%
121 - 180 4,978,530 4%
181 - 270 5,802,005 5%
271 - 365 3,629,612 3%
1 - 2 Years 24,528,246 22%
2 - 3 26,037,513 23%
3 - 5 26,217,748 23%
Over 5 Years 0%
114,010,364$ 100%
Total / Weighted Average
Town Funds Weighted Average Quality is AAA
Page 1
Town of Danville
Treasurer's Report of Investments - Summary
March 31, 2025
Description Par Value Cost Market Value % Total
TRUST FUND
Cash Equivalents 2,079,115$ 2,079,115$ 2,079,115$ 100%
CDA/SUCCESSOR AGENCY
Cash Equivalents 505,202$ 505,202$ 505,202$ 100%
Total 505,202$ 505,202$ 505,202$ 100%
ASSESSMENT DISTRICTS
NERIAD
Federal Agency Issues -$ -$ -$ 0%
U.S. Treasury Obligations 975,000 944,680 961,078 84%
Cash Equivalents 178,686 178,686 178,686 16%
Subtotal 1,153,686$ 1,123,366$ 1,139,764$ 100%
Total 1,153,686$ 1,123,366$ 1,139,764$ 100%
SUMMARY TOTAL
Town Funds 114,706,493$ 112,817,797$ 114,010,364$
Trust Fund 2,079,115 2,079,115 2,079,115
CDA/Successor Agency 505,202 505,202 505,202
NERIAD 1,153,686 1,123,366 1,139,764
Summary Total 118,444,495$ 116,525,479$ 117,734,444$
Page 2
Town of Danville
Treasurer's Report of Investments
CDA
Town Funds Trust Funds Successor Agency NERIAD Total
Beginning Balance, at cost 115,594,320$ 2,294,521$ 787,936$ 1,114,382$ 119,791,160$
Purchases, at cost
U.S. Treasury 1,923,750 1,923,750
Apple Inc.457,525 457,525
John Deere Owner Trust 2025 A3 469,970 469,970
Federal Home Loan Mortgage Corp. K-090 A2 966,016 966,016
U.S. Treasury 217,582 217,582
- -
Sales/Maturations/Call
MasterCard Inc.(999,010) 0 (999,010)
U.S. Treasury (1,342,150) (1,342,150)
U.S. Treasury (191,044)(191,044)
-
Redemption (127,646) (127,646)
Premium/Discount 17,892 17,892
Interest Received 264,955 1,173 412 266,541
Net change in Cash (4,407,825) (215,406) (283,908) (17,966)(4,925,105)
Realized gains (losses)-
Ending Balance, at cost 112,817,797$ 2,079,115$ 505,202$ 1,123,366$ 116,525,479$
March 31, 2025
Page 3
Town of Danville
Treasurer's Report of Investments - DetailTown Funds
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Federal Agency Issues
FFCB Note 05/03/2022 05/09/2025 1,000,000 998,050 998,458 2.97%29,700
FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 984,631 1.17%11,700
FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 2,009,924 4.42%88,400
FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,509,975 4.58%68,700
FHLB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 1,009,810 4.53%45,300
FHLB Note 06/26/2024 06/11/2027 1,000,000 1,001,530 1,015,246 4.57%45,700 FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,519,261 4.41%66,150 FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,778,668 4.73%82,775
FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,512,890 3.66%54,900
FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,496,175 3.76%56,400
FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,503,753 4.49%67,350
FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,529,114 4.74%71,100
FFCB Note 09/17/2024 09/10/2029 1,500,000 1,500,945 1,466,592 3.49%52,350
Subtotal 18,250,000$ 18,213,608$ 18,334,497$ 4.05%740,525$
Collateralized Mortgage Obligation
FHLMC K063 A2 06/06/2023 01/25/2027 1,000,000 965,625 985,296 4.47%44,700
FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 977,239 4.23%42,300 FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 978,446 3.98%39,800 FHLMC K069 A2 12/27/2023 09/25/2027 1,124,439 1,082,580 1,096,688 4.27%48,014
FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 703,116 4.27%30,744
FHLMC K074 A2 12/18/2024 01/25/2028 1,000,000 974,922 982,828 4.45%44,500
FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 987,991 4.85%48,500
FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 988,456 5.31%53,100
FHLMC K090 A2 03/27/2025 02/25/2029 1,000,000 966,016 969,586 4.36%43,600
Subtotal 8,844,439$ 8,509,646$ 8,669,646$ 4.46%395,258$
U.S. Treasury Obligations
U.S. Treasury Notes 01/26/2021 04/30/2025 1,000,000 1,001,953 1,032,730 0.79%7,873
U.S. Treasury Notes 04/28/2022 04/30/2025 1,000,000 932,344 960,982 0.73%7,327
U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,489,960 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,485,039 0.55%8,250 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,331,901 4.30%58,050
U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,487,285 4.26%63,900
U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,491,046 2.96%44,400
U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,589,050 2.87%45,920
U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,680,423 3.04%51,680
U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,087,768 3.20%35,200
U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,768,388 2.99%53,820
U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,571,969 3.42%54,720
U.S. Treasury Notes 11/22/2024 07/31/2026 1,750,000 1,749,180 1,758,750 4.40%77,000
U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,933,126 4.09%81,800
U.S. Treasury Notes 02/20/2025 10/15/2026 1,750,000 1,759,912 1,767,363 4.26%74,550 U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,411,485 4.27%61,915 U.S. Treasury Notes 05/17/2024 04/15/2027 2,000,000 1,995,469 2,023,047 4.58%91,600
March 31, 2025
Page 4
Town of Danville
Treasurer's Report of Investments - DetailTown Funds
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
March 31, 2025
U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,479,845 4.00%60,000
U.S. Treasury Notes 06/21/2024 07/31/2027 2,000,000 1,901,875 1,949,297 4.46%89,200
U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,571,625 3.59%57,440
U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,257,275 4.44%55,500
U.S. Treasury Notes 10/17/2024 01/31/2028 1,300,000 1,284,105 1,286,391 3.90%50,700
U.S. Treasury Notes 09/27/2024 02/15/2028 1,500,000 1,464,141 1,454,063 3.51%52,650
U.S. Treasury Notes 11/08/2024 03/31/2028 1,000,000 982,344 992,734 4.19%41,900 U.S. Treasury Notes 12/30/2024 05/31/2028 1,750,000 1,711,445 1,735,645 4.33%75,775 U.S. Treasury Notes 12/13/2024 08/31/2028 1,000,000 1,004,102 1,014,648 4.25%42,500
U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,752,469 4.66%83,880
U.S. Treasury Notes 09/05/2024 05/31/2029 1,200,000 1,155,984 1,146,141 3.60%43,200
U.S. Treasury Notes 10/29/2024 07/31/2029 1,500,000 1,493,320 1,503,926 4.30%64,500
U.S. Treasury Notes 03/05/2025 08/31/2029 2,000,000 1,923,750 1,934,766 4.06%81,200
Subtotal 45,500,000$ 44,384,355$ 44,949,137$ 3.57%1,624,400$
Cash Equivalents
Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)494,963 494,963 494,963 3.81%18,858
Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)349,784 349,784 349,784 3.84%13,432
Bank of New York 884,567 884,567 884,567 2.48%21,937 US Bank 969,485 969,485 969,485 0.00%16 LAIF 14,302,522 14,302,522 14,302,522 4.31%616,868
Subtotal 17,001,320$ 17,001,320$ 17,001,320$ 3.94%671,111
Asset-Backed Securities
Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 13,305 13,303 13,260 0.89%118
John Deere Owner Trust 2021-B A3 07/13/2021 03/16/2026 6,715 6,714 6,703 0.53%36
Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 14,055 14,054 14,014 0.71%100
Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 78,053 78,041 77,632 1.89%1,475
BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 60,182 60,179 59,990 3.23%1,944
John Deere Owner Trust 2022-A A3 03/10/2022 09/15/2026 63,423 63,409 63,092 2.34%1,484
Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 113,891 113,886 113,392 2.23%2,540
GM Financial Consumer Auto Receiv 2022-1 A3 01/11/2022 11/16/2026 24,972 24,969 24,840 1.27%317 GM Financial Auto Leasing Trust 2023-3 A3 08/08/2023 11/20/2026 200,498 200,474 200,999 5.38%10,787 GM Financial Consumer Auto Receiv 2022-2 A3 04/05/2022 02/16/2027 85,451 85,433 85,011 3.13%2,675
GM Finacial Automobile Leasing Trust 2025-1 A3 02/05/2025 02/21/2028 405,000 404,952 406,881 4.66%18,873
BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 165,189 165,160 166,278 5.47%9,036
Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 258,840 6.30%16,065
Chase Issuance Trust 23-A1 A 09/07/2023 09/15/2028 995,000 994,724 1,006,271 5.17%51,442
BMW Vehicle Owner Trust 2024-A A3 06/04/2024 02/26/2029 420,000 419,936 425,198 5.24%22,008
Bank of America Credit Card Trust 2024-1 A 06/06/2024 05/15/2029 475,000 474,974 481,217 4.93%23,418
John Deere Owner Trust 2025 A3 03/04/2025 09/17/2029 470,000 469,970 469,630 5.09%23,923
BMW Vehicle Owner Trust 2025-A A3 02/04/2025 09/25/2029 635,000 634,938 637,973 4.56%28,956
Mercedes-Benz Auto Receivables Trust 2025-1 01/14/2025 12/17/2029 560,000 559,881 565,035 4.94%27,664
Subtotal 5,040,734$ 5,039,970$ 5,076,256$ 4.81%242,859$
Page 5
Town of Danville
Treasurer's Report of Investments - DetailTown Funds
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
March 31, 2025
Supranational
International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 930,709 4.49%41,533
Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 1,006,296 4.23%42,300
International Bank For Reconstruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,477,700 4.23%63,450
Subtotal 3,425,000$ 3,382,970$ 3,414,705$ 4.30%147,283$
US Corporate
Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 498,082 2.03%10,150
Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 467,533 3.13%14,711
Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 698,986 4.64%32,480
Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 993,884 4.28%42,800
Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 743,546 4.27%32,025
Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 962,858 4.68%46,800
Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 520,511 5.07%26,111
Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,016,082 5.48%54,800
Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 449,729 5.88%25,872
Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 972,445 4.42%44,200 Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 364,953 5.13%18,468 JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 410,300 5.11%20,696
John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 1,005,841 4.53%45,300
Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 1,012,030 4.81%48,100
State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,078,895 4.99%53,144
Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,015,881 4.89%48,900
Blackrock Funding Inc 07/17/2024 07/26/2027 690,000 689,979 695,428 4.60%31,740
Amazon.com Inc 07/10/2024 08/22/2027 1,000,000 954,920 977,872 4.73%47,300
Visa Inc 08/19/2024 09/15/2027 1,000,000 960,360 968,211 4.14%41,400
Bank of New York Mellon Corp 02/12/2025 02/01/2029 1,250,000 1,240,750 1,252,249 4.81%60,125
Apple Inc.03/05/2025 09/11/2029 500,000 457,525 459,487 4.29%21,450
Subtotal 16,645,000$ 16,285,928$ 16,564,803$ 4.60%766,571$
TOTAL 114,706,493$ 112,817,797$ 114,010,364$ 4.00%4,588,006$
Source: Chandler Asset Management
US Bank
Local Agency Investment Fund (LAIF)
Page 6
Town of Danville
Treasurer's Report of Investments - Detail
March 31, 2025
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF 2,079,115 2,079,115 2,079,115 4.31%89,672
TOTAL 2,079,115$ 2,079,115$ 2,079,115$ 4.31% $89,672
Source:
Local Agency Investment Fund (LAIF)
Trust Fund
Page 7
Town of Danville
Treasurer's Report of Investments - Detail
March 31, 2025
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF - redemption fund 121,287 121,287 121,287 4.31%5,231
Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)382,917 382,917 382,917 3.75%14,359
Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)294 294 294 3.84%11
Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)704 704 704 3.84%27
Subtotal 505,202$ 505,202$ 505,202$ 3.89%19,629$
TOTAL 505,202$ 505,202$ 505,202$ 3.89%19,629$
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 6/13/2024 6/12/2025 250,000 237,837 247,905 5.08%12,700
U.S. Treasury Bill 9/5/2024 9/4/2025 250,000 239,876 245,563 4.20%10,500
U.S. Treasury Bill 12/16/2024 12/15/2025 250,000 249,385 249,812 4.26%10,650
U.S. Treasury Bill 3/27/2025 3/31/2026 225,000 217,582 217,798 4.12%9,270
Subtotal 975,000$ 944,680$ 961,078$ 4.42%43,120$
Cash Equivalents
LAIF - improvement fund 167,391 167,391 167,391 4.31%7,220
Bank of New York-Improvement fd 11,295 11,295 11,295 2.48%280
Subtotal 178,686$ 178,686$ 178,686$ 4.20%7,500$
Total 1,153,686$ 1,123,366$ 1,139,764$ 4.39%50,620$
Source:
Chandler Asset Management
BNY Trust Company
Local Agency Investment Fund (LAIF)
Northeast Roadway Improvement Assessment District (NERIAD)
March 31, 2025
Page 9