HomeMy WebLinkAbout081225-06.3
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ADMINISTRATIVE STAFF REPORT 6.3
TO: Mayor and Town Council August 12, 2025
SUBJECT: June 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 June 2025:
May June May June
2025 2025 2025 2025
Town Funds $117,340,209 $113,742,871 $118,520,010 $115,251,695
Trust Funds 2,070,012 2,012,655 2,070,012 2,012,655
Assessment & SA 1,599,452 2,426,313 1,620,271 2,437,147
Total Cash & Investments $121,009,674 $118,181,839 $122,210,293 $119,701,497
Total Cash & Investments
Year-to-Year Comparison
2024 $121,523,916 $122,519,443 $120,392,419 $121,682,314
Cost Basis Market Value
Purchases for the month of June 2025 consisted of one U.S. Treasury for $1,989,141
(maturity date November 30, 2029), one BMW Vehicle Lease Trust 2025-1 A3 for
$249,995 (maturity date June 26, 2028).
Purchases for the NERIAD Fund for the month of June 2025 consisted of one U.S.
Treasury for $249,970 (maturity date June 15, 2026).
Maturities for the month of June 2025 included one U.S. Treasury for $1,482,246.
Partial maturities (principal paid down) for the month of June 2025 included one Federal
Home Loan mortgage Corporation K-069 A2 for $1,859, one John Deere Owner Trust
2022 A3 for $7,658, one Hyundai Auto Receivables Trust 2022-A A3 for $23,794, one
June 2025 Treasurer’s Report 2 August 12, 2025
Honda Auto Receivables Trust 2022-1 A3 for $16,466, one GM Financial Auto Receivables
2022-2 A3 for $10,811, one GM Financial Auto Receivables 2022-1 A3 for $6,216, one GM
Financial Auto Leasing 2023-3 A3 for $28,461, one BMW Vehicle Owner Trust 2023-A A3
for $10,774, and one BMW Vehicle Owner Trust 2022-A A3 for $10,629.
Maturities for the NERIAD Fund for the month of June 2025 included one U.S. Treasury
for $237,836.
The Town’s net cash position changed from $22,501,515 to $18,263,875 during the month
of June 2025. This consisted of operating expenses in excess of operating revenues of
-$3,922,797, net funds invested of $640,222, premium/discount recognition of $46,641 and
interest received of $278,738.
Cash requirements have been projected for the next 12 months, and the Town is in a
position to meet its cash requirements.
All investments that the Town owns are in compliance with the California Government
Code and the Town’s Investment Policy.
PUBLIC CONTACT
Posting of the meeting agenda serves as notice to the general public.
RECOMMENDATION
Accept the June 2025 Month End Treasurer’s Report.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Tai J. Williams
Town Manager
Attachment: June 2025 Month End Treasurer’s Report
Town of Danville
Treasurer's Report of Investments - Summary
June 30, 2025
Yield to
Description Par Value Cost Market Value % Total Maturity
TOWN FUNDS
U.S. Treasury Obligations 44,500,000$ 43,411,328$ 44,132,278$ 38%3.78%
Federal Agency Issues 19,250,000 19,172,878 19,340,758 17%4.08%
Cash Equivalents 18,263,875 18,263,875 18,263,875 16%3.79%
Collateralized Mortgage Obligation 8,838,757 8,504,175 8,718,064 8%4.48%
Asset-Backed Securities 5,208,343 5,207,587 5,254,444 5%4.86%
Commercial Paper 0 0 0 0%0.00%
Negotiable CD 0 0 0 0%0.00%
Supranational 3,425,000 3,382,970 3,428,322 3%4.30%
US Corporate 16,145,000 15,800,058 16,113,954 14%4.68%
Total / Weighted Average 115,630,975$ 113,742,871$ 115,251,695$ 100%4.08%
Maturities
0 - 30 Days 17,515,151$ 15%
31-60 4,323,292 4%
61 - 90 707,863 1%
91 - 120 1,506,429 1%
121 - 180 4,293,882 4%
181 - 270 1,845,459 2%
271 - 365 6,375,623 6%
1 - 2 Years 28,189,298 24%
2 - 3 27,537,141 24%
3 - 5 22,957,557 20%
Over 5 Years 0%
115,251,695$ 100%
Total / Weighted Average
Town Funds Weighted Average Quality is AAA
Page 1
Town of Danville
Treasurer's Report of Investments - Summary
June 30, 2025
Description Par Value Cost Market Value % Total
TRUST FUND
Cash Equivalents 2,012,655$ 2,012,655$ 2,012,655$ 100%
CDA/SUCCESSOR AGENCY
Cash Equivalents 1,294,133$ 1,294,133$ 1,294,133$ 100%
Total 1,294,133$ 1,294,133$ 1,294,133$ 100%
ASSESSMENT DISTRICTS
NERIAD
Federal Agency Issues -$ -$ -$ 0%
U.S. Treasury Obligations 975,000 956,813 967,647 85%
Cash Equivalents 175,367 175,367 175,367 15%
Subtotal 1,150,367$ 1,132,180$ 1,143,014$ 100%
Total 1,150,367$ 1,132,180$ 1,143,014$ 100%
SUMMARY TOTAL
Town Funds 115,630,975$ 113,742,871$ 115,251,695$
Trust Fund 2,012,655 2,012,655 2,012,655
CDA/Successor Agency 1,294,133 1,294,133 1,294,133
NERIAD 1,150,367 1,132,180 1,143,014
Summary Total 120,088,130$ 118,181,839$ 119,701,497$
Page 2
Town of Danville
Treasurer's Report of Investments
CDA
Town Funds Trust Funds Successor Agency NERIAD Total
Beginning Balance, at cost 117,340,209$ 2,070,012$ 475,655$ 1,123,798$ 121,009,674$
Purchases, at cost
U.S. Treasury 1,989,141 1,989,141
BMW Vehicle Lease Trust 2025-1 A3 249,995 249,995
U.S. Treasury 249,970 249,970
-
-
- -
Sales/Maturations/Call
U.S. Treasury (1,482,246) (1,482,246)
U.S. Treasury (237,836)(237,836)
-
-
Redemption (116,668) (116,668)
Premium/Discount 46,641 46,641
Interest Received 278,738 1,206 444 280,389
Net change in Cash (4,562,939) (57,357) 817,273 (4,196)(3,807,219)
Realized gains (losses)-
Ending Balance, at cost 113,742,871$ 2,012,655$ 1,294,133$ 1,132,180$ 118,181,839$
June 30, 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 1,000,000 971,060 993,871 1.17%11,700
FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 2,006,792 4.42%88,400
FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,508,264 4.58%68,700
FHLB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 1,008,733 4.53%45,300
FHLB Note 06/26/2024 06/11/2027 1,000,000 1,001,530 1,015,260 4.57%45,700
FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,520,734 4.41%66,150 FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,780,415 4.73%82,775 FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,516,549 3.66%54,900
FHLB Note 05/07/2025 03/10/2028 2,000,000 1,957,320 1,963,644 3.80%76,000
FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,502,400 3.76%56,400
FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,511,509 4.49%67,350
FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,537,402 4.74%71,100
FFCB Note 09/17/2024 09/10/2029 1,500,000 1,500,945 1,475,185 3.49%52,350
Subtotal 19,250,000$ 19,172,878$ 19,340,758$ 4.08%786,825$
Collateralized Mortgage Obligation
FHLMC K063 A2 06/06/2023 01/25/2027 1,000,000 965,625 988,115 4.47%44,700
FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 982,298 4.28%42,800 FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 982,744 3.98%39,800 FHLMC K069 A2 12/27/2023 09/25/2027 1,118,757 1,077,109 1,098,050 4.27%47,771
FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 707,826 4.34%31,248
FHLMC K074 A2 12/18/2024 01/25/2028 1,000,000 974,922 988,662 4.45%44,500
FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 995,456 4.85%48,500
FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 996,529 5.31%53,100
FHLMC K090 A2 03/27/2025 02/25/2029 1,000,000 966,016 978,384 4.36%43,600
Subtotal 8,838,757$ 8,504,175$ 8,718,064$ 4.48%396,019$
U.S. Treasury Obligations
U.S. Treasury Notes 12/02/2021 07/31/2025 1,350,000 1,310,871 1,345,436 1.05%14,175
U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,495,389 2.94%44,100
U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,495,117 2.96%44,400 U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,593,188 2.87%45,920 U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,687,029 3.04%51,680
U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,091,421 3.20%35,200
U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,775,707 2.99%53,820
U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,577,688 3.42%54,720
U.S. Treasury Notes 11/22/2024 07/31/2026 1,750,000 1,749,180 1,756,973 4.40%77,000
U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,944,844 4.09%81,800
U.S. Treasury Notes 02/20/2025 10/15/2026 1,750,000 1,759,912 1,765,586 4.26%74,550
U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,419,018 4.00%58,000
U.S. Treasury Notes 05/17/2024 04/15/2027 2,000,000 1,995,469 2,024,922 4.58%91,600
U.S. Treasury Notes 05/13/2025 05/15/2027 2,000,000 1,937,734 1,950,547 4.01%80,200
U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,486,582 4.00%60,000 U.S. Treasury Notes 06/21/2024 07/31/2027 2,000,000 1,901,875 1,961,015 4.46%89,200 U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,580,312 3.59%57,440
June 30, 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
June 30, 2025
U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,261,377 4.44%55,500
U.S. Treasury Notes 10/17/2024 01/31/2028 1,300,000 1,284,105 1,293,398 3.90%50,700
U.S. Treasury Notes 09/27/2024 02/15/2028 1,500,000 1,464,141 1,464,316 3.51%52,650
U.S. Treasury Notes 11/08/2024 03/31/2028 1,000,000 982,344 998,281 4.19%41,900
U.S. Treasury Notes 12/30/2024 05/31/2028 1,750,000 1,711,445 1,746,309 4.33%75,775
U.S. Treasury Notes 12/13/2024 08/31/2028 1,000,000 1,004,102 1,019,727 4.25%42,500
U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,766,391 4.66%83,880 U.S. Treasury Notes 09/05/2024 05/31/2029 1,200,000 1,155,984 1,157,156 3.60%43,200 U.S. Treasury Notes 10/29/2024 07/31/2029 1,500,000 1,493,320 1,514,003 4.10%61,500
U.S. Treasury Notes 03/05/2025 08/31/2029 2,000,000 1,923,750 1,951,718 4.06%81,200
U.S. Treasury Notes 06/03/2025 11/30/2029 2,000,000 1,989,141 2,008,828 4.01%80,200
Subtotal 44,500,000$ 43,411,328$ 44,132,278$ 3.78%1,682,810$
Cash Equivalents
Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)499,683 499,683 499,683 3.79%18,938
Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)353,154 353,154 353,154 3.82%13,490
Bank of New York 2,109,183 2,109,183 2,109,183 3.42%72,134
US Bank 1,515,119 1,515,119 1,515,119 0.00%25
LAIF 13,786,736 13,786,736 13,786,736 4.27%588,556Subtotal18,263,875$ 18,263,875$ 18,263,875$ 3.79%693,144
Asset-Backed Securities
Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 25,998 25,994 25,946 1.89%491
BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 26,181 26,180 26,134 3.23%846
John Deere Owner Trust 2022-A A3 03/10/2022 09/15/2026 34,169 34,161 34,071 2.34%800
Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 38,823 38,822 38,758 2.23%866 GM Financial Consumer Auto Receiv 2022-1 A3 01/11/2022 11/16/2026 5,234 5,234 5,227 1.27%66 GM Financial Auto Leasing Trust 2023-3 A3 08/08/2023 11/20/2026 118,813 118,799 119,019 5.38%6,392
GM Financial Consumer Auto Receiv 2022-2 A3 04/05/2022 02/16/2027 52,452 52,441 52,271 3.13%1,642
GM Finacial Automobile Leasing Trust 2025-1 A3 02/05/2025 02/21/2028 405,000 404,952 407,700 4.66%18,873
BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 131,673 131,650 132,456 5.47%7,203
BMW Vehicle Lease Trust 2025-1 A3 06/03/2025 06/26/2028 250,000 249,995 251,431 4.82%12,050
Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 257,992 5.61%14,306
Chase Issuance Trust 2023-1 A 09/07/2023 09/15/2028 995,000 994,724 1,006,499 5.23%52,039
BMW Vehicle Owner Trust 2024-A A3 06/04/2024 02/26/2029 420,000 419,936 425,295 5.18%21,756
Bank of America Credit Card Trust 2024-1 A 06/06/2024 05/15/2029 475,000 474,973 482,036 4.93%23,418
John Deere Owner Trust 2025 A3 03/04/2025 09/17/2029 470,000 469,970 471,161 5.09%23,923
BMW Vehicle Owner Trust 2025-A A3 02/04/2025 09/25/2029 635,000 634,937 640,437 4.56%28,956
Honda Auto Receivables 2025-2 Owner Trust 04/29/2025 10/15/2029 310,000 309,965 310,615 4.15%12,865 Mercedes-Benz Auto Receivables Trust 2025-1 01/14/2025 12/17/2029 560,000 559,881 567,396 4.84%27,104Subtotal5,208,343$ 5,207,587$ 5,254,444$ 4.86%253,594$
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
June 30, 2025
Supranational
International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 931,879 4.49%41,533
Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 1,007,610 4.23%42,300
International Bank For Reconstruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,488,833 4.23%63,450
Subtotal 3,425,000$ 3,382,970$ 3,428,322$ 4.30%147,283$
US Corporate
Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 469,101 3.13%14,711
Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 699,370 4.64%32,480
Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 995,659 4.28%42,800
Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 745,293 4.27%32,025
Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 970,536 4.68%46,800
Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 520,376 5.07%26,111
Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,014,183 5.48%54,800
Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 449,259 5.88%25,872
Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 977,743 4.42%44,200 Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 364,536 5.13%18,468 JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 410,127 5.11%20,696
John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 1,006,285 4.53%45,300
Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 1,012,126 4.81%48,100
State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,080,413 4.99%53,144
Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,017,024 4.89%48,900
Blackrock Funding Inc 07/17/2024 07/26/2027 690,000 689,979 698,425 4.60%31,740
Amazon.com Inc 07/10/2024 08/22/2027 1,000,000 954,920 983,711 4.73%47,300
Visa Inc 08/19/2024 09/15/2027 1,000,000 960,360 976,025 4.14%41,400
Bank of New York Mellon Corp 02/12/2025 02/01/2029 1,250,000 1,240,750 1,259,559 4.81%60,125
Apple Inc.03/05/2025 09/11/2029 500,000 457,525 464,203 4.29%21,450
Subtotal 16,145,000$ 15,800,058$ 16,113,954$ 4.68%756,421$
TOTAL 115,630,975$ 113,742,871$ 115,251,695$ 4.08%4,716,094$
Source: Chandler Asset Management
US Bank
Local Agency Investment Fund (LAIF)
Page 6
Town of Danville
Treasurer's Report of Investments - Detail
June 30, 2025
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF 2,012,655 2,012,655 2,012,655 4.27%85,920
TOTAL 2,012,655$ 2,012,655$ 2,012,655$ 4.27% $85,920
Source:
Local Agency Investment Fund (LAIF)
Trust Fund
Page 7
Town of Danville
Treasurer's Report of Investments - Detail
June 30, 2025
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF - redemption fund 906,565 906,565 906,565 4.27%38,701
Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)386,505 386,505 386,505 3.70%14,301
Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)358 358 358 3.82%14
Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)704 704 704 3.82%27
Subtotal 1,294,133$ 1,294,133$ 1,294,133$ 4.10%53,043$
TOTAL 1,294,133$ 1,294,133$ 1,294,133$ 4.10%53,043$
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 9/5/2024 9/4/2025 250,000 239,876 248,078 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 225,000 217,582 219,450 4.12%9,270
U.S. Treasury Bill 6/11/2025 6/15/2026 250,000 249,970 250,307 4.14%10,350
Subtotal 975,000$ 956,813$ 967,647$ 4.18%40,770$
Cash Equivalents
LAIF - improvement fund 158,630 158,630 158,630 4.27%6,772
Bank of New York-Improvement fd 16,737 16,737 16,737 3.42%572
Subtotal 175,367$ 175,367$ 175,367$ 4.19%7,344$
Total 1,150,367$ 1,132,180$ 1,143,014$ 4.18%48,114$
Source:
Chandler Asset Management
BNY Trust Company
Local Agency Investment Fund (LAIF)
Northeast Roadway Improvement Assessment District (NERIAD)
June 30, 2025
Page 9