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HomeMy WebLinkAbout061725-06.3 1 ADMINISTRATIVE STAFF REPORT 6.3 TO: Mayor and Town Council June 17, 2025 SUBJECT: April 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 April 2025: Mar Apr Mar Apr 2025 2025 2025 2025 Town Funds $112,817,797 $117,166,659 $114,010,364 $118,754,436 Trust Funds 2,079,115 2,147,497 2,079,115 2,147,497 Assessment & SA 1,628,567 1,598,030 1,644,966 1,617,068 Total Cash & Investments $116,525,479 $120,912,185 $117,734,444 $122,519,000 Total Cash & Investments Year-to-Year Comparison 2024 $112,687,071 $119,645,130 $111,567,574 $118,053,104 Cost Basis Market Value Purchases for the month of April 2025 consisted of one Honda Auto Receivables 2025-2 Owner Trust for $309,965 (maturity date October 15, 2029). There were no purchases for the NERIAD Fund for the month of April 2025. Maturities for the month of April 2025 included one U.S. Treasury for $1,934,297. Partial maturities (principal paid down) for the month of April 2025 included one Federal Home Loan mortgage Corporation K-069 A2 for $1,847, one John Deere Owner Trust 2021-B A3 for $6,715, one Toyota Auto Receivables Trust 2021-D A3 for $8,715, one Honda Auto Receivables Trust 2022-1 A3 for $18,420, one Hyundai Auto Receivables Trust 2022- A A3 for $26,622, one John Deere Owner Trust 2022-A A3 for $9,312, one GM Financial April 2025 Treasurer’s Report 2 June 17, 2025 Auto Receivables 2022-1 A3 for $7,072, one GM Financial Auto Receivables 2022-2 A3 for $11,227, one GM Financial Auto Leasing 2023-3 A3 for $20,917, one Honda Auto Receivables Trust 2021-4 A3 for $8,776, and one BMW Vehicle Owner Trust 2022-A A3 for $11,881, and one BMW Vehicle Owner Trust 2023-A A3 for $11,462. There were no maturities for NERIAD Fun for the Month of April 2025. The Town’s net cash position changed from $17,001,320 to $23,117,394 during the month of April 2025. This consisted of operating revenues in excess of operating expenses of $3,832,490, net funds invested of -$1,767,298, premium/discount recognition of $65,788 and interest received of $450,498. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the April 2025 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Joseph A. Calabrigo Town Manager Attachment: April 2025 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary April 30, 2025 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 43,500,000$ 42,450,058$ 43,190,198$ 36%3.53% Federal Agency Issues 18,250,000 18,213,608 18,416,749 16%4.05% Cash Equivalents 23,117,394 23,117,394 23,117,394 19%3.93% Collateralized Mortgage Obligation 8,842,593 8,507,868 8,717,745 7%4.48% Asset-Backed Securities 5,209,614 5,208,833 5,257,295 4%4.82% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 3,425,000 3,382,970 3,438,322 3%4.30% US Corporate 16,645,000 16,285,928 16,616,733 14%4.60% Total / Weighted Average 118,989,601$ 117,166,659$ 118,754,436$ 100%3.99% Maturities 0 - 30 Days 23,944,048$ 20% 31-60 1,496,293 1% 61 - 90 1,491,332 1% 91 - 120 4,292,720 4% 121 - 180 2,198,855 2% 181 - 270 5,403,685 5% 271 - 365 4,107,731 3% 1 - 2 Years 24,932,105 21% 2 - 3 26,634,192 22% 3 - 5 24,253,475 20% Over 5 Years 0% 118,754,436$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary April 30, 2025 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 2,147,497$ 2,147,497$ 2,147,497$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 474,480$ 474,480$ 474,480$ 100% Total 474,480$ 474,480$ 474,480$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 975,000 944,680 963,718 84% Cash Equivalents 178,870 178,870 178,870 16% Subtotal 1,153,870$ 1,123,550$ 1,142,588$ 100% Total 1,153,870$ 1,123,550$ 1,142,588$ 100% SUMMARY TOTAL Town Funds 118,989,601$ 117,166,659$ 118,754,436$ Trust Fund 2,147,497 2,147,497 2,147,497 CDA/Successor Agency 474,480 474,480 474,480 NERIAD 1,153,870 1,123,550 1,142,588 Summary Total 122,765,447$ 120,912,185$ 122,519,000$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 112,817,797$ 2,079,115$ 505,202$ 1,123,366$ 116,525,479$ Purchases, at cost HONDA AUTO RECEIVABLES 2025-2 OWNER T 309,965 309,965 - - - - - - Sales/Maturations/Call U.S. Treasury (1,934,297) 0 (1,934,297) - - - Redemption (142,966) (142,966) Premium/Discount 65,788 65,788 Interest Received 450,498 1,272 451 452,221 Net change in Cash 5,599,874 68,382 (31,993) (267)5,635,997 Realized gains (losses)- Ending Balance, at cost 117,166,659$ 2,147,497$ 474,480$ 1,123,550$ 120,912,185$ April 30, 2025 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 05/03/2022 05/09/2025 1,000,000 998,050 999,673 2.97%29,700 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 987,710 1.17%11,700 FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 2,007,205 4.42%88,400 FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,510,389 4.58%68,700 FHLB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 1,013,498 4.53%45,300 FHLB Note 06/26/2024 06/11/2027 1,000,000 1,001,530 1,018,304 4.57%45,700 FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,527,632 4.41%66,150 FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,789,013 4.73%82,775 FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,522,577 3.66%54,900 FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,501,943 3.76%56,400 FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,517,066 4.49%67,350 FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,544,409 4.74%71,100 FFCB Note 09/17/2024 09/10/2029 1,500,000 1,500,945 1,477,330 3.49%52,350 Subtotal 18,250,000$ 18,213,608$ 18,416,749$ 4.05%740,525$ Collateralized Mortgage Obligation FHLMC K063 A2 06/06/2023 01/25/2027 1,000,000 965,625 988,177 4.47%44,700 FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 981,703 4.28%42,800 FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 982,447 3.98%39,800 FHLMC K069 A2 12/27/2023 09/25/2027 1,122,593 1,080,803 1,100,990 4.27%47,935 FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 707,548 4.34%31,248 FHLMC K074 A2 12/18/2024 01/25/2028 1,000,000 974,922 988,643 4.45%44,500 FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 995,258 4.85%48,500 FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 995,756 5.31%53,100 FHLMC K090 A2 03/27/2025 02/25/2029 1,000,000 966,015 977,223 4.36%43,600 Subtotal 8,842,593$ 8,507,868$ 8,717,745$ 4.48%396,183$ U.S. Treasury Obligations U.S. Treasury Notes 06/11/2021 05/31/2025 1,500,000 1,483,359 1,494,727 0.53%7,950 U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,246 1,490,078 0.55%8,250 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,336,342 1.05%14,175 U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,489,775 2.94%44,100 U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,492,500 2.96%44,400 U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,590,575 2.87%45,920 U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,682,761 3.04%51,680 U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,089,688 3.20%35,200 U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,773,070 2.99%53,820 U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,576,225 3.42%54,720 U.S. Treasury Notes 11/22/2024 07/31/2026 1,750,000 1,749,180 1,762,031 4.40%77,000 U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,942,500 4.09%81,800 U.S. Treasury Notes 02/20/2025 10/15/2026 1,750,000 1,759,912 1,772,012 4.26%74,550 U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,420,320 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 1,489,453 4.00%60,000 U.S. Treasury Notes 06/21/2024 07/31/2027 2,000,000 1,901,875 1,963,281 4.46%89,200 April 30, 2025 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 April 30, 2025 U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,583,250 3.59%57,440 U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,265,967 4.44%55,500 U.S. Treasury Notes 10/17/2024 01/31/2028 1,300,000 1,284,105 1,296,902 3.90%50,700 U.S. Treasury Notes 09/27/2024 02/15/2028 1,500,000 1,464,141 1,466,777 3.51%52,650 U.S. Treasury Notes 11/08/2024 03/31/2028 1,000,000 982,344 1,001,289 4.19%41,900 U.S. Treasury Notes 12/30/2024 05/31/2028 1,750,000 1,711,445 1,751,162 4.33%75,775 U.S. Treasury Notes 12/13/2024 08/31/2028 1,000,000 1,004,102 1,023,477 4.25%42,500 U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,769,977 4.66%83,880 U.S. Treasury Notes 09/05/2024 05/31/2029 1,200,000 1,155,984 1,158,656 3.60%43,200 U.S. Treasury Notes 10/29/2024 07/31/2029 1,500,000 1,493,320 1,518,809 4.10%61,500 U.S. Treasury Notes 03/05/2025 08/31/2029 2,000,000 1,923,750 1,955,547 4.06%81,200 Subtotal 43,500,000$ 42,450,058$ 43,190,198$ 3.53%1,538,610$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)496,554 496,554 496,554 3.81%18,919 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)350,925 350,925 350,925 3.84%13,476 Bank of New York 2,973,244 2,973,244 2,973,244 3.34%99,306 US Bank 1,136,197 1,136,197 1,136,197 0.00%19 LAIF 18,160,474 18,160,474 18,160,474 4.28%777,450 Subtotal 23,117,394$ 23,117,394$ 23,117,394$ 3.93%909,169 Asset-Backed Securities Honda Auto Receivables Trust 2021-4 A3 11/16/2021 01/21/2026 4,529 4,528 4,519 0.89%40 Toyota Auto Receivables Trust 2021-D A3 11/09/2021 04/15/2026 5,340 5,340 5,331 0.71%38 Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 59,633 59,624 59,372 1.89%1,127 BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 48,301 48,298 48,162 3.23%1,560 John Deere Owner Trust 2022-A A3 03/10/2022 09/15/2026 54,111 54,099 53,861 2.34%1,266 Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 87,269 87,266 86,958 2.23%1,946 GM Financial Consumer Auto Receiv 2022-1 A3 01/11/2022 11/16/2026 17,900 17,898 17,828 1.27%227 GM Financial Auto Leasing Trust 2023-3 A3 08/08/2023 11/20/2026 179,581 179,560 179,907 5.38%9,661 GM Financial Consumer Auto Receiv 2022-2 A3 04/05/2022 02/16/2027 74,224 74,208 73,842 3.13%2,323 GM Finacial Automobile Leasing Trust 2025-1 A3 02/05/2025 02/21/2028 405,000 404,952 407,892 4.66%18,873 BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 153,726 153,699 154,763 5.47%8,409 Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 258,572 5.61%14,306 Chase Issuance Trust 23-A1 A 09/07/2023 09/15/2028 995,000 994,724 1,008,322 5.23%52,039 BMW Vehicle Owner Trust 2024-A A3 06/04/2024 02/26/2029 420,000 419,936 425,328 5.18%21,756 Bank of America Credit Card Trust 2024-1 A 06/06/2024 05/15/2029 475,000 474,973 482,848 4.93%23,418 John Deere Owner Trust 2025 A3 03/04/2025 09/17/2029 470,000 469,970 471,496 5.09%23,923 BMW Vehicle Owner Trust 2025-A A3 02/04/2025 09/25/2029 635,000 634,938 640,386 4.56%28,956 Honda Auto Receivables 2025-2 Owner Trust 04/29/2025 10/15/2029 310,000 309,965 309,965 4.65%14,415 Mercedes-Benz Auto Receivables Trust 2025-1 01/14/2025 12/17/2029 560,000 559,882 567,943 4.84%27,104 Subtotal 5,209,614$ 5,208,833$ 5,257,295$ 4.82%251,387$ 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 April 30, 2025 Supranational International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 934,763 4.49%41,533 Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 1,010,939 4.23%42,300 International Bank For Reconstruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,492,620 4.23%63,450 Subtotal 3,425,000$ 3,382,970$ 3,438,322$ 4.30%147,283$ US Corporate Apple Inc Callable Note Cont 02/25/2022 05/11/2025 500,000 485,870 499,462 2.03%10,150 Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 468,075 3.13%14,711 Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 698,600 4.64%32,480 Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 993,263 4.28%42,800 Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 744,966 4.27%32,025 Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 966,665 4.68%46,800 Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 521,609 5.07%26,111 Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,016,429 5.48%54,800 Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 450,534 5.88%25,872 Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 974,805 4.42%44,200 Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 365,652 5.13%18,468 JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 411,075 5.11%20,696 John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 1,008,521 4.53%45,300 Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 1,015,615 4.81%48,100 State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,081,195 4.99%53,144 Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,019,804 4.89%48,900 Blackrock Funding Inc 07/17/2024 07/26/2027 690,000 689,979 699,165 4.60%31,740 Amazon.com Inc 07/10/2024 08/22/2027 1,000,000 954,920 983,064 4.73%47,300 Visa Inc 08/19/2024 09/15/2027 1,000,000 960,360 974,657 4.14%41,400 Bank of New York Mellon Corp 02/12/2025 02/01/2029 1,250,000 1,240,750 1,258,582 4.81%60,125 Apple Inc.03/05/2025 09/11/2029 500,000 457,525 464,995 4.29%21,450 Subtotal 16,645,000$ 16,285,928$ 16,616,733$ 4.60%766,571$ TOTAL 118,989,601$ 117,166,659$ 118,754,436$ 3.99%4,749,727$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail April 30, 2025 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 2,147,497 2,147,497 2,147,497 4.28%91,934 TOTAL 2,147,497$ 2,147,497$ 2,147,497$ 4.28% $91,934 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail April 30, 2025 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 89,293 89,293 89,293 4.28%3,823 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)384,131 384,131 384,131 3.74%14,366 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)352 352 352 3.84%14 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)704 704 704 3.84%27 Subtotal 474,480$ 474,480$ 474,480$ 3.84%18,230$ TOTAL 474,480$ 474,480$ 474,480$ 3.84%18,230$ 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 250,000 237,837 248,766 5.08%12,700 U.S. Treasury Bill 9/5/2024 9/4/2025 250,000 239,876 246,375 4.20%10,500 U.S. Treasury Bill 12/16/2024 12/15/2025 250,000 249,385 249,951 4.26%10,650 U.S. Treasury Bill 3/27/2025 3/31/2026 225,000 217,582 218,626 4.12%9,270 Subtotal 975,000$ 944,680$ 963,718$ 4.42%43,120$ Cash Equivalents LAIF - improvement fund 167,321 167,321 167,321 4.28%7,163 Bank of New York-Improvement fd 11,549 11,549 11,549 3.34%386 Subtotal 178,870$ 178,870$ 178,870$ 4.22%7,549$ Total 1,153,870$ 1,123,550$ 1,142,588$ 4.39%50,669$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) April 30, 2025 Page 9