The URL can be used to link to this page

Home My WebLink About071525-06.3 1 ADMINISTRATIVE STAFF REPORT 6.3 TO: Mayor and Town Council July 15, 2025 SUBJECT: May 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 May 2025: Apr May Apr May 2025 2025 2025 2025 Town Funds $117,166,659 $117,340,209 $118,754,436 $118,520,010 Trust Funds 2,147,497 2,070,012 2,147,497 2,070,012 Assessment & SA 1,598,030 1,599,452 1,617,068 1,620,271 Total Cash & Investments $120,912,185 $121,009,674 $122,519,000 $122,210,293 Total Cash & Investments Year-to-Year Comparison 2024 $119,645,130 $121,523,916 $118,053,104 $120,392,419 Cost Basis Market Value Purchases for the month of May 2025 consisted of one Federal Home Loan Banks 3.0 for $1,957,320 (maturity date March 10, 2028), one U.S. Treasury for $1,937,734 (maturity date May 15, 2027). There were no purchases for the NERIAD Fund for the month of May 2025. Maturities for the month of May 2025 included one Federal Farm Credit Banks Funding Corp 2.9 for $998,050, one Apple Inc. 1.125 for $485,870, and one U.S. Treasury for $1,483,359. Partial maturities (principal paid down) for the month of May 2025 included one Federal Home Loan mortgage Corporation K-069 A2 for $1,976, one John Deere Owner Trust May 2025 Treasurer’s Report 2 July 15, 2025 2022 A3 for $12,284, one Hyundai Auto Receivables Trust 2022-A A3 for $24,652, one Honda Auto Receivables Trust 2022-1 A3 for $17,169, one Toyota Auto Owner Trust 2021- D A3 for $5,340, one GM Financial Auto Receivables 2022-2 A3 for $10,961, one GM Financial Auto Receivables 2022-1 A3 for $6,450, one GM Financial Auto Leasing 2023-3 A3 for $32,308, one Honda Auto Receivables Trust 2021-4 A3 for $4,529, and one BMW Vehicle Owner Trust 2023-A A3 for $11,279, and one BMW Vehicle Owner Trust 2022-A A3 for $11,491. There were no maturities for NERIAD Fund for the month of May 2025. The Town’s net cash position changed from $23,117,394 to $22,501,515 during the month of May 2025. This consisted of operating expenses in excess of operating revenues of -$72,025, net funds invested of $789,336, premium/discount recognition of $16,170 and interest received of $229,312. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the May 2025 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Tai J. Williams Town Manager Attachment: May 2025 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary May 31, 2025 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 44,000,000$ 42,904,434$ 43,467,965$ 37%3.66% Federal Agency Issues 19,250,000 19,172,878 19,276,976 16%4.08% Cash Equivalents 22,501,515 22,501,515 22,501,515 19%3.81% Collateralized Mortgage Obligation 8,840,617 8,505,966 8,678,767 7%4.48% Asset-Backed Securities 5,073,152 5,072,388 5,104,974 4%4.83% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 3,425,000 3,382,970 3,416,614 3%4.30% US Corporate 16,145,000 15,800,058 16,073,199 14%4.68% Total / Weighted Average 119,235,284$ 117,340,209$ 118,520,010$ 100%4.03% Maturities 0 - 30 Days 23,304,340$ 20% 31-60 0 0% 61 - 90 4,308,716 4% 91 - 120 705,487 1% 121 - 180 5,780,054 5% 181 - 270 1,852,244 2% 271 - 365 3,398,403 3% 1 - 2 Years 27,682,008 23% 2 - 3 27,429,022 23% 3 - 5 24,059,736 20% Over 5 Years 0% 118,520,010$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary May 31, 2025 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 2,070,012$ 2,070,012$ 2,070,012$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 475,655$ 475,655$ 475,655$ 100% Total 475,655$ 475,655$ 475,655$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 975,000 944,680 965,498 84% Cash Equivalents 179,118 179,118 179,118 16% Subtotal 1,154,118$ 1,123,798$ 1,144,616$ 100% Total 1,154,118$ 1,123,798$ 1,144,616$ 100% SUMMARY TOTAL Town Funds 119,235,284$ 117,340,209$ 118,520,010$ Trust Fund 2,070,012 2,070,012 2,070,012 CDA/Successor Agency 475,655 475,655 475,655 NERIAD 1,154,118 1,123,798 1,144,616 Summary Total 122,935,069$ 121,009,674$ 122,210,293$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 117,166,659$ 2,147,497$ 474,480$ 1,123,550$ 120,912,185$ Purchases, at cost Federal Home Loan Banks 3.0 1,957,320 1,957,320 U.S. Treasury 1,937,734 1,937,734 - - - - - Sales/Maturations/Call Federal Farm Credit Banks Funding Corp 2.9 (998,050) 0 (998,050) Apple Inc. 1.125 (485,870) (485,870) U.S. Treasury (1,483,359) (1,483,359) - Redemption (138,438) (138,438) Premium/Discount 16,170 16,170 Interest Received 229,312 1,175 349 230,836 Net change in Cash (861,269) (77,486) - (101)(938,856) Realized gains (losses)- Ending Balance, at cost 117,340,209$ 2,070,012$ 475,655$ 1,123,798$ 121,009,674$ May 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 FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 990,798 1.17%11,700 FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 2,005,286 4.42%88,400 FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,506,705 4.58%68,700 FHLB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 1,007,957 4.53%45,300 FHLB Note 06/26/2024 06/11/2027 1,000,000 1,001,530 1,011,868 4.57%45,700 FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,516,972 4.41%66,150 FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,775,996 4.73%82,775 FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,512,729 3.66%54,900 FHLB Note 05/07/2025 03/10/2028 2,000,000 1,957,320 1,953,988 3.80%76,000 FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,496,895 3.76%56,400 FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,504,553 4.49%67,350 FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,528,592 4.74%71,100 FFCB Note 09/17/2024 09/10/2029 1,500,000 1,500,945 1,464,637 3.49%52,350 Subtotal 19,250,000$ 19,172,878$ 19,276,976$ 4.08%786,825$ Collateralized Mortgage Obligation FHLMC K063 A2 06/06/2023 01/25/2027 1,000,000 965,625 985,565 4.47%44,700 FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 978,683 4.28%42,800 FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 978,848 3.98%39,800 FHLMC K069 A2 12/27/2023 09/25/2027 1,120,617 1,078,900 1,094,925 4.27%47,850 FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 704,397 4.34%31,248 FHLMC K074 A2 12/18/2024 01/25/2028 1,000,000 974,922 984,018 4.45%44,500 FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 990,783 4.85%48,500 FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 990,048 5.31%53,100 FHLMC K090 A2 03/27/2025 02/25/2029 1,000,000 966,016 971,500 4.36%43,600 Subtotal 8,840,617$ 8,505,966$ 8,678,767$ 4.48%396,098$ U.S. Treasury Obligations U.S. Treasury Notes 07/29/2021 06/30/2025 1,500,000 1,482,247 1,495,156 0.55%8,250 U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,341,088 1.05%14,175 U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,492,875 2.94%44,100 U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,493,531 2.96%44,400 U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,591,288 2.87%45,920 U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,684,395 3.04%51,680 U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,089,720 3.20%35,200 U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,771,636 2.99%53,820 U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,574,238 3.42%54,720 U.S. Treasury Notes 11/22/2024 07/31/2026 1,750,000 1,749,180 1,754,922 4.40%77,000 U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,937,891 4.09%81,800 U.S. Treasury Notes 02/20/2025 10/15/2026 1,750,000 1,759,912 1,763,467 4.26%74,550 U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,413,636 4.00%58,000 U.S. Treasury Notes 05/17/2024 04/15/2027 2,000,000 1,995,469 2,020,078 4.58%91,600 U.S. Treasury Notes 05/13/2025 05/15/2027 2,000,000 1,937,734 1,942,422 4.01%80,200 U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,481,191 4.00%60,000 U.S. Treasury Notes 06/21/2024 07/31/2027 2,000,000 1,901,875 1,952,891 4.46%89,200 May 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 May 31, 2025 U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,574,000 3.59%57,440 U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,256,885 4.44%55,500 U.S. Treasury Notes 10/17/2024 01/31/2028 1,300,000 1,284,105 1,287,914 3.90%50,700 U.S. Treasury Notes 09/27/2024 02/15/2028 1,500,000 1,464,141 1,456,875 3.51%52,650 U.S. Treasury Notes 11/08/2024 03/31/2028 1,000,000 982,344 993,750 4.19%41,900 U.S. Treasury Notes 12/30/2024 05/31/2028 1,750,000 1,711,445 1,737,969 4.33%75,775 U.S. Treasury Notes 12/13/2024 08/31/2028 1,000,000 1,004,102 1,014,844 4.25%42,500 U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,755,633 4.66%83,880 U.S. Treasury Notes 09/05/2024 05/31/2029 1,200,000 1,155,984 1,148,578 3.60%43,200 U.S. Treasury Notes 10/29/2024 07/31/2029 1,500,000 1,493,320 1,503,984 4.10%61,500 U.S. Treasury Notes 03/05/2025 08/31/2029 2,000,000 1,923,750 1,937,108 4.06%81,200 Subtotal 44,000,000$ 42,904,434$ 43,467,965$ 3.66%1,610,860$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)498,096 498,096 498,096 3.77%18,778 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)352,023 352,023 352,023 3.80%13,377 Bank of New York 2,429,265 2,429,265 2,429,265 2.50%60,732 US Bank 1,284,384 1,284,384 1,284,384 0.00%21 LAIF 17,937,747 17,937,747 17,937,747 4.27%766,301Subtotal22,501,515$ 22,501,515$ 22,501,515$ 3.81%859,209 Asset-Backed Securities Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 42,465 42,458 42,329 1.89%803 BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 36,810 36,808 36,721 3.23%1,189 John Deere Owner Trust 2022-A A3 03/10/2022 09/15/2026 41,827 41,818 41,664 2.34%979 Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 62,616 62,615 62,449 2.23%1,396 GM Financial Consumer Auto Receiv 2022-1 A3 01/11/2022 11/16/2026 11,450 11,449 11,419 1.27%145 GM Financial Auto Leasing Trust 2023-3 A3 08/08/2023 11/20/2026 147,274 147,256 147,569 5.38%7,923 GM Financial Consumer Auto Receiv 2022-2 A3 04/05/2022 02/16/2027 63,263 63,250 62,992 3.13%1,980 GM Finacial Automobile Leasing Trust 2025-1 A3 02/05/2025 02/21/2028 405,000 404,952 406,583 4.66%18,873 BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 142,447 142,422 143,395 5.47%7,792 Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 257,811 5.61%14,306 Chase Issuance Trust 2023-1 A 09/07/2023 09/15/2028 995,000 994,724 1,004,784 5.23%52,039 BMW Vehicle Owner Trust 2024-A A3 06/04/2024 02/26/2029 420,000 419,936 423,571 5.18%21,756 Bank of America Credit Card Trust 2024-1 A 06/06/2024 05/15/2029 475,000 474,973 481,020 4.93%23,418 John Deere Owner Trust 2025 A3 03/04/2025 09/17/2029 470,000 469,970 469,380 5.09%23,923 BMW Vehicle Owner Trust 2025-A A3 02/04/2025 09/25/2029 635,000 634,937 638,491 4.56%28,956 Honda Auto Receivables 2025-2 Owner Trust 04/29/2025 10/15/2029 310,000 309,965 309,613 4.15%12,865 Mercedes-Benz Auto Receivables Trust 2025-1 01/14/2025 12/17/2029 560,000 559,882 565,183 4.84%27,104 Subtotal 5,073,152$ 5,072,388$ 5,104,974$ 4.83%245,446$ 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 May 31, 2025 Supranational International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 929,964 4.49%41,533 Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 1,005,565 4.23%42,300 International Bank For Reconstruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,481,085 4.23%63,450 Subtotal 3,425,000$ 3,382,970$ 3,416,614$ 4.30%147,283$ US Corporate Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 468,752 3.13%14,711 Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 699,269 4.64%32,480 Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 994,846 4.28%42,800 Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 743,765 4.27%32,025 Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 966,999 4.68%46,800 Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 519,601 5.07%26,111 Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,012,785 5.48%54,800 Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 448,725 5.88%25,872 Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 973,942 4.42%44,200 Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 364,622 5.13%18,468 JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 409,554 5.11%20,696 John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 1,004,973 4.53%45,300 Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 1,009,907 4.81%48,100 State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,077,728 4.99%53,144 Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,014,123 4.89%48,900 Blackrock Funding Inc 07/17/2024 07/26/2027 690,000 689,979 695,722 4.60%31,740 Amazon.com Inc 07/10/2024 08/22/2027 1,000,000 954,920 979,717 4.73%47,300 Visa Inc 08/19/2024 09/15/2027 1,000,000 960,360 971,928 4.14%41,400 Bank of New York Mellon Corp 02/12/2025 02/01/2029 1,250,000 1,240,750 1,254,812 4.81%60,125 Apple Inc.03/05/2025 09/11/2029 500,000 457,525 461,429 4.29%21,450 Subtotal 16,145,000$ 15,800,058$ 16,073,199$ 4.68%756,421$ TOTAL 119,235,284$ 117,340,209$ 118,520,010$ 4.03%4,802,141$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail May 31, 2025 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 2,070,012 2,070,012 2,070,012 4.27%88,431 TOTAL 2,070,012$ 2,070,012$ 2,070,012$ 4.27% $88,431 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail May 31, 2025 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 89,293 89,293 89,293 4.27%3,815 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)385,303 385,303 385,303 3.69%14,218 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)355 355 355 3.80%13 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)704 704 704 3.80%27 Subtotal 475,655$ 475,655$ 475,655$ 3.80%18,073$ TOTAL 475,655$ 475,655$ 475,655$ 3.80%18,073$ 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 250,000 237,837 249,705 5.08%12,700 U.S. Treasury Bill 9/5/2024 9/4/2025 250,000 239,876 247,244 4.20%10,500 U.S. Treasury Bill 12/16/2024 12/15/2025 250,000 249,385 249,792 4.26%10,650 U.S. Treasury Bill 3/27/2025 3/31/2026 225,000 217,582 218,757 4.12%9,270 Subtotal 975,000$ 944,680$ 965,498$ 4.42%43,120$ Cash Equivalents LAIF - improvement fund 167,533 167,533 167,533 4.27%7,157 Bank of New York-Improvement fd 11,585 11,585 11,585 2.50%290 Subtotal 179,118$ 179,118$ 179,118$ 4.16%7,447$ Total 1,154,118$ 1,123,798$ 1,144,616$ 4.38%50,567$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) May 31, 2025 Page 9