HomeMy WebLinkAbout091625-05.03
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ADMINISTRATIVE STAFF REPORT 5.3
TO: Mayor and Town Council September 16, 2025
SUBJECT: July 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 July 2025:
June July June July
2025 2025 2025 2025
Town Funds $113,742,871 $111,859,838 $115,251,695 $113,036,810
Trust Funds 2,012,655 2,074,306 2,012,655 2,074,306
Assessment & SA 2,426,313 2,399,711 2,437,147 2,411,381
Total Cash & Investments $118,181,839 $116,333,854 $119,701,497 $117,522,496
Total Cash & Investments
Year-to-Year Comparison
2024 $122,519,443 $120,427,637 $121,682,314 $120,473,630
Cost Basis Market Value
Purchases for the month of July 2025 consisted of one Pepsico INC for $997,580
(maturity date January 15, 2029), and one U.S. Treasury for $1,996,875 (maturity date
December 31, 2029).
There were no purchases for the NERIAD Fund for the month of July 2025.
Maturities for the month of July 2025 included one U.S. Treasury Note for $1,310,871.
Partial maturities (principal paid down) for the month of July 2025 included one Federal
Home Loan Mortgage Corporation K-069 A2 for $1,989, one John Deere Owner Trust 2022
A3 for $8,002, one Hyundai Auto Receivables Trust 2022-A A3 for $23,045, one Honda
Auto Receivables Trust 2022-1 A3 for $15,308, one GM Financial Auto Receivables 2022-
July 2025 Treasurer’s Report 2 September 16, 2025
2 A3 for $10,261, one GM Financial Auto Receivables 2022-1 A3 for $5,234, one GM
Financial Auto Leasing 2023-3 A3 for $25,156, one BMW Vehicle Owner Trust 2023-A A3
for $10,229, and one BMW Vehicle Owner Trust 2022-A A3 for $9,893.
There were no maturities for NERIAD Fund for the month of July 2025.
The Town’s net cash position changed from $18,263,875 to $14,806,287 during the month
of July 2025. This consisted of operating expenses in excess of operating revenues of
-$2,168,802 net funds invested of $1,574,467 premium/discount recognition of $39,216
and interest received of $246,465.
Cash requirements have been projected for the next 12 months, and the Town is in a
position to meet its cash requirements.
All investments that the Town owns are in compliance with the California Government
Code and the Town’s Investment Policy.
PUBLIC CONTACT
Posting of the meeting agenda serves as notice to the general public.
RECOMMENDATION
Accept the July 2025 Month End Treasurer’s Report.
Prepared by:
Lani Ha
Finance Director/Treasurer
Reviewed by:
Tai J. Williams
Town Manager
Attachment: July 2025 Month End Treasurer’s Report
Town of Danville
Treasurer's Report of Investments - Summary
July 31, 2025
Yield to
Description Par Value Cost Market Value % Total Maturity
TOWN FUNDS
U.S. Treasury Obligations 45,150,000$ 44,097,332$ 44,659,419$ 40%3.86%
Federal Agency Issues 19,250,000 19,172,878 19,265,646 17%4.08%
Cash Equivalents 14,806,287 14,806,287 14,806,287 13%3.77%
Collateralized Mortgage Obligation 8,836,769 8,502,261 8,681,316 8%4.48%
Asset-Backed Securities 5,101,215 5,100,472 5,131,999 5%4.90%
Commercial Paper 0 0 0 0%0.00%
Negotiable CD 0 0 0 0%0.00%
Supranational 3,425,000 3,382,970 3,414,358 3%4.30%
US Corporate 17,145,000 16,797,638 17,077,785 15%4.65%
Total / Weighted Average 113,714,271$ 111,859,838$ 113,036,810$ 100%4.12%
Maturities
0 - 30 Days 17,771,838$ 16%
31-60 699,466 1%
61 - 90 1,497,070 1%
91 - 120 4,280,658 4%
121 - 180 1,092,377 1%
181 - 270 2,522,020 2%
271 - 365 6,316,469 6%
1 - 2 Years 28,655,049 25%
2 - 3 26,033,612 23%
3 - 5 24,168,251 21%
Over 5 Years 0%
113,036,810$ 100%
Total / Weighted Average
Town Funds Weighted Average Quality is AAA
Page 1
Town of Danville
Treasurer's Report of Investments - Summary
July 31, 2025
Description Par Value Cost Market Value % Total
TRUST FUND
Cash Equivalents 2,074,306$ 2,074,306$ 2,074,306$ 100%
CDA/SUCCESSOR AGENCY
Cash Equivalents 1,285,297$ 1,285,297$ 1,285,297$ 100%
Total 1,285,297$ 1,285,297$ 1,285,297$ 100%
ASSESSMENT DISTRICTS
NERIAD
Federal Agency Issues -$ -$ -$ 0%
U.S. Treasury Obligations 975,000 956,813 968,483 86%
Cash Equivalents 157,601 157,601 157,601 14%
Subtotal 1,132,601$ 1,114,414$ 1,126,084$ 100%
Total 1,132,601$ 1,114,414$ 1,126,084$ 100%
SUMMARY TOTAL
Town Funds 113,714,271$ 111,859,838$ 113,036,810$
Trust Fund 2,074,306 2,074,306 2,074,306
CDA/Successor Agency 1,285,297 1,285,297 1,285,297
NERIAD 1,132,601 1,114,414 1,126,084
Summary Total 118,206,474$ 116,333,855$ 117,522,497$
Page 2
Town of Danville
Treasurer's Report of Investments
CDA
Town Funds Trust Funds Successor Agency NERIAD Total
Beginning Balance, at cost 113,742,871$ 2,012,655$ 1,294,133$ 1,132,180$ 118,181,839$
Purchases, at cost
Pepsico INC 997,580 997,580
U.S. Treasury 1,996,875 1,996,875
-
-
-
- -
Sales/Maturations/Call
U.S. Treasury (1,310,871) (1,310,871)
-
-
-
Redemption (109,117) (109,117)
Premium/Discount 39,216 39,216
Interest Received 246,465 1,164 353 247,982
Net change in Cash (3,743,181) 61,651 (10,000) (18,119)(3,709,649)
Realized gains (losses)-
Ending Balance, at cost 111,859,838$ 2,074,306$ 1,285,297$ 1,114,414$ 116,333,855$
July 31, 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
FNMA Note 12/09/2021 08/25/2025 1,000,000 971,060 997,297 1.17%11,700
FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 2,002,817 4.42%88,400
FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,504,846 4.58%68,700
FHLB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 1,006,477 4.53%45,300
FHLB Note 06/26/2024 06/11/2027 1,000,000 1,001,530 1,009,374 4.57%45,700
FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,513,743 4.41%66,150
FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,771,703 4.73%82,775
FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,512,131 3.66%54,900
FHLB Note 05/07/2025 03/10/2028 2,000,000 1,957,320 1,954,017 3.80%76,000
FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,494,126 3.76%56,400
FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,504,719 4.49%67,350
FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,527,244 4.74%71,100
FFCB Note 09/17/2024 09/10/2029 1,500,000 1,500,945 1,467,152 3.49%52,350
Subtotal 19,250,000$ 19,172,878$ 19,265,646$ 4.08%786,825$
Collateralized Mortgage Obligation
FHLMC K063 A2 06/06/2023 01/25/2027 1,000,000 965,625 986,484 4.47%44,700
FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,984 979,225 4.28%42,800
FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 979,714 3.98%39,800
FHLMC K069 A2 12/27/2023 09/25/2027 1,116,769 1,075,195 1,092,170 4.27%47,686
FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 704,938 4.34%31,248
FHLMC K074 A2 12/18/2024 01/25/2028 1,000,000 974,922 984,393 4.45%44,500
FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,969 990,438 4.85%48,500
FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 990,589 5.31%53,100
FHLMC K090 A2 03/27/2025 02/25/2029 1,000,000 966,016 973,365 4.36%43,600
Subtotal 8,836,769$ 8,502,261$ 8,681,316$ 4.48%395,934$
U.S. Treasury Obligations
U.S. Treasury Notes 04/21/2022 08/15/2025 1,500,000 1,454,883 1,498,555 2.94%44,100
U.S. Treasury Notes 04/21/2022 09/30/2025 1,500,000 1,502,109 1,497,070 2.96%44,400
U.S. Treasury Notes 06/02/2022 10/31/2025 1,600,000 1,606,563 1,594,388 2.87%45,920
U.S. Treasury Notes 06/09/2022 11/15/2025 1,700,000 1,655,840 1,689,627 3.04%51,680
U.S. Treasury Notes 07/13/2022 12/31/2025 1,100,000 1,079,031 1,092,377 3.20%35,200
U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,776,255 2.99%53,820
U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,577,913 3.42%54,720
U.S. Treasury Notes 11/22/2024 07/31/2026 1,750,000 1,749,180 1,753,117 4.40%77,000
U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,943,281 4.09%81,800
U.S. Treasury Notes 02/20/2025 10/15/2026 1,750,000 1,759,912 1,760,117 4.26%74,550
U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,415,223 4.00%58,000
U.S. Treasury Notes 05/17/2024 04/15/2027 2,000,000 1,995,469 2,016,563 4.58%91,600
U.S. Treasury Notes 05/13/2025 05/15/2027 2,000,000 1,937,734 1,945,000 4.01%80,200
U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,480,840 4.00%60,000
U.S. Treasury Notes 06/21/2024 07/31/2027 2,000,000 1,901,875 1,954,297 4.46%89,200
U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,574,438 3.59%57,440
U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,255,322 4.44%55,500
July 31, 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
July 31, 2025
U.S. Treasury Notes 10/17/2024 01/31/2028 1,300,000 1,284,105 1,287,762 3.90%50,700
U.S. Treasury Notes 09/27/2024 02/15/2028 1,500,000 1,464,141 1,458,399 3.51%52,650
U.S. Treasury Notes 11/08/2024 03/31/2028 1,000,000 982,344 993,398 4.19%41,900
U.S. Treasury Notes 12/30/2024 05/31/2028 1,750,000 1,711,445 1,737,627 4.33%75,775
U.S. Treasury Notes 12/13/2024 08/31/2028 1,000,000 1,004,102 1,013,867 4.25%42,500
U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,757,461 4.66%83,880
U.S. Treasury Notes 09/05/2024 05/31/2029 1,200,000 1,155,984 1,150,781 3.60%43,200
U.S. Treasury Notes 10/29/2024 07/31/2029 1,500,000 1,493,320 1,504,336 4.10%61,500
U.S. Treasury Notes 03/05/2025 08/31/2029 2,000,000 1,923,750 1,940,546 4.06%81,200
U.S. Treasury Notes 06/03/2025 11/30/2029 2,000,000 1,989,141 1,995,546 4.01%80,200
U.S. Treasury Notes 07/30/2025 12/31/2029 2,000,000 1,996,875 1,995,313 3.91%78,200
Subtotal 45,150,000$ 44,097,332$ 44,659,419$ 3.86%1,746,835$
Cash Equivalents
Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)501,219 501,219 501,219 3.78%18,946
Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)354,248 354,248 354,248 3.81%13,497
Bank of New York 820,282 820,282 820,282 3.62%29,694
US Bank 1,457,660 1,457,660 1,457,660 0.00%24
LAIF 11,672,878 11,672,878 11,672,878 4.26%497,031
Subtotal 14,806,287$ 14,806,287$ 14,806,287$ 3.77%559,193
Asset-Backed Securities
Honda Auto Receivables Trust 2022-1 A3 02/15/2022 05/15/2026 10,690 10,689 10,678 1.89%202
BMW Vehicle Owner Trust 2022-A A3 05/10/2022 08/25/2026 16,288 16,287 16,263 3.23%526
John Deere Owner Trust 2022-A A3 03/10/2022 09/15/2026 26,167 26,161 26,113 2.34%612
Hyundai Auto Receivables Trust 2022-A A3 03/09/2022 10/15/2026 15,778 15,777 15,761 2.23%352
GM Financial Auto Leasing Trust 2023-3 A3 08/08/2023 11/20/2026 93,657 93,646 93,796 5.38%5,039
GM Financial Consumer Auto Receiv 2022-2 A3 04/05/2022 02/16/2027 42,191 42,183 42,078 3.13%1,321
GM Finacial Automobile Leasing Trust 2025-1 A3 02/05/2025 02/21/2028 405,000 404,952 406,691 4.66%18,873
BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 121,444 121,423 122,142 5.47%6,643
BMW Vehicle Lease Trust 2025-1 A3 06/03/2025 06/26/2028 250,000 249,995 250,497 4.82%12,050
Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 255,000 254,973 257,793 5.61%14,306
Chase Issuance Trust 2023-1 A 09/07/2023 09/15/2028 995,000 994,724 1,004,087 5.23%52,039
BMW Vehicle Owner Trust 2024-A A3 06/04/2024 02/26/2029 420,000 419,936 423,892 5.18%21,756
Bank of America Credit Card Trust 2024-1 A 06/06/2024 05/15/2029 475,000 474,973 480,678 4.93%23,418
John Deere Owner Trust 2025 A3 03/04/2025 09/17/2029 470,000 469,970 469,143 5.09%23,923
BMW Vehicle Owner Trust 2025-A A3 02/04/2025 09/25/2029 635,000 634,937 637,666 4.56%28,956
Honda Auto Receivables 2025-2 Owner Trust 04/29/2025 10/15/2029 310,000 309,965 309,515 4.15%12,865
Mercedes-Benz Auto Receivables Trust 2025-1 01/14/2025 12/17/2029 560,000 559,881 565,206 4.84%27,104
Subtotal 5,101,215$ 5,100,472$ 5,131,999$ 4.90%249,983$
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
July 31, 2025
Supranational
International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 928,603 4.49%41,533
Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 1,004,020 4.23%42,300
International Bank For Reconstruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,481,735 4.23%63,450
Subtotal 3,425,000$ 3,382,970$ 3,414,358$ 4.30%147,283$
US Corporate
Colgate Palmolive Co. Note 08/01/2022 08/15/2025 470,000 469,567 469,698 3.13%14,711
Wal-Mart Stores Note 09/26/2022 09/09/2025 700,000 685,776 699,466 4.64%32,480
Microst Callable Note Cont 01/20/2023 11/03/2025 1,000,000 970,060 996,643 4.28%42,800
Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 745,764 4.27%32,025
Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 971,944 4.68%46,800
Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 518,803 5.07%26,111
Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,010,551 5.48%54,800
Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 447,980 5.88%25,872
Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 977,478 4.42%44,200
Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 363,714 5.13%18,468
JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 408,803 5.11%20,696
John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 1,004,250 4.53%45,300
Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 1,009,567 4.81%48,100
State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,077,127 4.99%53,144
Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,013,055 4.89%48,900
Blackrock Funding Inc 07/17/2024 07/26/2027 690,000 689,979 695,363 4.60%31,740
Amazon.com Inc 07/10/2024 08/22/2027 1,000,000 954,920 981,207 4.73%47,300
Visa Inc 08/19/2024 09/15/2027 1,000,000 960,360 972,741 4.14%41,400
Pepsico INC. 07/29/2025 01/15/2029 1,000,000 997,580 995,163 4.18%41,800
Bank of New York Mellon Corp 02/12/2025 02/01/2029 1,250,000 1,240,750 1,255,485 4.81%60,125
Apple Inc.03/05/2025 09/11/2029 500,000 457,525 462,983 4.29%21,450
Subtotal 17,145,000$ 16,797,638$ 17,077,785$ 4.65%798,221$
TOTAL 113,714,271$ 111,859,838$ 113,036,810$ 4.12%4,684,273$
Source:
Chandler Asset Management
US Bank
Local Agency Investment Fund (LAIF)
Page 6
Town of Danville
Treasurer's Report of Investments - Detail
July 31, 2025
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF 2,074,306 2,074,306 2,074,306 4.26%88,324
TOTAL 2,074,306$ 2,074,306$ 2,074,306$ 4.26% $88,324
Source:
Local Agency Investment Fund (LAIF)
Trust Fund
Page 7
Town of Danville
Treasurer's Report of Investments - Detail
July 31, 2025
Yield to Annual
Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest
Cash Equivalents
LAIF - redemption fund 575,780 575,780 575,780 4.26%24,517
Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)387,666 387,666 387,666 3.68%14,266
Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)362 362 362 3.81%14
Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)321,489 321,489 321,489 3.81%12,249
Subtotal 1,285,297$ 1,285,297$ 1,285,297$ 3.97%51,045$
TOTAL 1,285,297$ 1,285,297$ 1,285,297$ 3.97%51,045$
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 250,000 239,876 248,990 4.20%10,500
U.S. Treasury Bill 12/16/2024 12/15/2025 250,000 249,385 249,817 4.26%10,650
U.S. Treasury Bill 3/27/2025 3/31/2026 225,000 217,582 219,854 4.12%9,270
U.S. Treasury Bill 6/11/2025 6/15/2026 250,000 249,970 249,822 4.14%10,350
Subtotal 975,000$ 956,813$ 968,483$ 4.18%40,770$
Cash Equivalents
LAIF - improvement fund 140,822 140,822 140,822 4.26%5,996
Bank of New York-Improvement fd 16,779 16,779 16,779 3.62%607
Subtotal 157,601$ 157,601$ 157,601$ 4.19%6,604$
Total 1,132,601$ 1,114,414$ 1,126,084$ 4.18%47,374$
Source:
Chandler Asset Management
BNY Trust Company
Local Agency Investment Fund (LAIF)
Northeast Roadway Improvement Assessment District (NERIAD)
July 31, 2025
Page 9