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HomeMy WebLinkAbout021726-08.3 1 ADMINISTRATIVE STAFF REPORT 8.3 TO: Mayor and Town Council February 17, 2026 SUBJECT: December 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 December 2025: Nov Dec Nov Dec 2025 2025 2025 2025 Town Funds $104,457,753 $114,816,386 $106,293,049 $116,633,038 Trust Funds 1,982,867 1,929,031 1,982,867 1,929,031 Assessment & SA 1,513,869 1,524,366 1,520,425 1,531,476 Total Cash & Investments $107,954,489 $118,269,783 $109,796,341 $120,093,545 Total Cash & Investments Year-to-Year Comparison 2024 $112,526,428 $115,045,911 $113,063,567 $115,349,874 Cost Basis Market Value Purchases for the month of December 2025 consisted of one MERCK & CO INC for $674,001 (maturity date March 15, 2029), and one U.S. Treasury for $1,979,351 (maturity date April 30, 2030). Purchases for the NERIAD Fund for the month of December 2025 consisted of one U.S. Treasury for $246,592 (maturity date November 15, 2026). Maturities for the month of December 2025 included one U.S. Treasury for $1,079,031. Partial maturities (principal paid down) for the month of December 2025 included one Federal Home Loan Mortgage Corporation K-074 A2 for $1,035, one Federal Home Loan Mortgage Corporation K-069 A2 for $2,021, one Toyota Auto Receivables Trust 2023-D A3 for $12,964, one GM Financial Auto Receivables 2022-2 A3 for $4,651, one BMW December 2025 Treasurer’s Report 2 February 17, 2026 Vehicle Owner Trust 2023-A A3 for $8,078, and one BMW Vehicle Owner Trust 2024-A A3 for $6,042. Maturities for the NERIAD Fund for the month of December 2025 included one U.S. Treasury for $249,385. The Town’s net cash position changed from $8,251,899 to $17,070,716 during the month of December 2025. This consisted of operating revenues in excess of operating expenses of $9,970,342, net funds invested of $1,539,530, premium/discount recognition of $21,690 and interest received of $366,315. Cash requirements have been projected for the next 12 months, and the Town is in a position to meet its cash requirements. All investments that the Town owns are in compliance with the California Government Code and the Town’s Investment Policy. PUBLIC CONTACT Posting of the meeting agenda serves as notice to the general public. RECOMMENDATION Accept the December 2025 Month End Treasurer’s Report. Prepared by: Lani Ha Finance Director/Treasurer Reviewed by: Tai Williams Town Manager Attachment: December 2025 Month End Treasurer’s Report Town of Danville Treasurer's Report of Investments - Summary December 31, 2025 Yield to Description Par Value Cost Market Value % Total Maturity TOWN FUNDS U.S. Treasury Obligations 47,750,000$ 46,590,156$ 47,473,280$ 41%3.95% Federal Agency Issues 18,250,000 18,201,818 18,411,446 16%4.24% Cash Equivalents 17,070,716 17,070,716 17,070,716 15%3.68% Collateralized Mortgage Obligation 8,826,061 8,491,939 8,769,653 8%4.48% Asset-Backed Securities 4,798,911 4,798,210 4,847,633 4%4.92% Commercial Paper 0 0 0 0%0.00% Negotiable CD 0 0 0 0%0.00% Supranational 3,425,000 3,382,970 3,435,883 3%4.30% US Corporate 16,585,000 16,280,577 16,624,427 14%4.65% Total / Weighted Average 116,705,688$ 114,816,386$ 116,633,038$ 100%4.15% Maturities 0 - 30 Days 16,284,020$ 14% 31-60 757,910 1% 61 - 90 1,804,424 2% 91 - 120 1,600,527 1% 121 - 180 2,997,402 3% 181 - 270 4,882,366 4% 271 - 365 6,996,960 6% 1 - 2 Years 30,665,735 26% 2 - 3 27,512,652 24% 3 - 5 23,131,042 20% Over 5 Years 0% 116,633,038$ 100% Total / Weighted Average Town Funds Weighted Average Quality is AAA Page 1 Town of Danville Treasurer's Report of Investments - Summary December 31, 2025 Description Par Value Cost Market Value % Total TRUST FUND Cash Equivalents 1,929,031$ 1,929,031$ 1,929,031$ 100% CDA/SUCCESSOR AGENCY Cash Equivalents 476,394$ 476,394$ 476,394$ 100% Total 476,394$ 476,394$ 476,394$ 100% ASSESSMENT DISTRICTS NERIAD Federal Agency Issues -$ -$ -$ 0% U.S. Treasury Obligations 975,000 963,617 970,727 92% Cash Equivalents 84,355 84,355 84,355 8% Subtotal 1,059,355$ 1,047,972$ 1,055,082$ 100% Total 1,059,355$ 1,047,972$ 1,055,082$ 100% SUMMARY TOTAL Town Funds 116,705,688$ 114,816,386$ 116,633,038$ Trust Fund 1,929,031 1,929,031 1,929,031 CDA/Successor Agency 476,394 476,394 476,394 NERIAD 1,059,355 1,047,972 1,055,082 Summary Total 120,170,468$ 118,269,783$ 120,093,545$ Page 2 Town of Danville Treasurer's Report of Investments CDA Town Funds Trust Funds Successor Agency NERIAD Total Beginning Balance, at cost 104,457,753$ 1,982,867$ 475,334$ 1,038,535$ 107,954,489$ Purchases, at cost MERCK & CO INC 674,001 674,001 U.S. Treasury 1,979,351 246,592 2,225,943 - - - - - Sales/Maturations/Call U.S. Treasury (1,079,031) (249,385)(1,328,416) - - - Redemption (34,791) (34,791) Premium/Discount 21,690 21,690 Interest Received 366,315 1,060 175 367,550 Net change in Cash 8,431,098 (53,836) - 12,055 8,389,317 Realized gains (losses)- Ending Balance, at cost 114,816,386$ 1,929,031$ 476,394$ 1,047,972$ 118,269,783$ December 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 FFCB Note 06/22/2023 06/23/2026 2,000,000 1,997,620 2,007,192 4.42%88,400 FFCB Note 08/09/2023 08/14/2026 1,500,000 1,496,550 1,508,228 4.58%68,700 FHLB Note 11/30/2023 11/17/2026 1,000,000 1,002,530 1,008,541 4.53%45,300 FHLB Note 06/26/2024 06/11/2027 1,000,000 1,001,530 1,014,031 4.57%45,700 FFCB Note 12/08/2023 10/04/2027 1,500,000 1,504,500 1,525,102 4.41%66,150 FFCB Note 11/09/2023 11/15/2027 1,750,000 1,743,508 1,784,787 4.73%82,775 FHLB Note 05/15/2023 12/10/2027 1,500,000 1,536,930 1,521,627 3.66%54,900 FHLB Note 05/07/2025 03/10/2028 2,000,000 1,957,320 1,978,976 3.80%76,000 FFCB Note 04/27/2023 04/25/2028 1,500,000 1,507,905 1,512,030 3.76%56,400 FHLB Note 07/06/2023 06/09/2028 1,500,000 1,467,705 1,516,768 4.49%67,350 FHLB Note 04/26/2024 03/09/2029 1,500,000 1,484,775 1,541,586 4.74%71,100 FFCB Note 09/17/2024 09/10/2029 1,500,000 1,500,945 1,492,578 3.49%52,350 Subtotal 18,250,000$ 18,201,818$ 18,411,446$ 4.24%775,125$ Collateralized Mortgage Obligation FHLMC K063 A2 06/06/2023 01/25/2027 1,000,000 965,625 995,429 4.47%44,700 FHLMC K066 A2 05/18/2023 06/25/2027 1,000,000 958,985 990,713 4.28%42,800 FHLMC K068 A2 05/12/2023 08/25/2027 1,000,000 970,820 991,219 3.98%39,800 FHLMC K069 A2 12/27/2023 09/25/2027 1,107,096 1,065,883 1,095,227 4.27%47,273 FHLMC K073 A2 05/24/2023 01/25/2028 720,000 691,988 713,335 4.34%31,248 FHLMC K074 A2 12/18/2024 01/25/2028 998,965 973,912 994,200 4.45%44,454 FHLMC K081 A2 09/05/2023 08/25/2028 1,000,000 957,968 1,000,840 4.85%48,500 FHLMC K082 A2 10/30/2023 09/25/2028 1,000,000 940,742 1,002,065 5.31%53,100 FHLMC K090 A2 03/27/2025 02/25/2029 1,000,000 966,016 986,625 4.36%43,600 Subtotal 8,826,061$ 8,491,939$ 8,769,653$ 4.48%395,475$ U.S. Treasury Obligations U.S. Treasury Notes 08/03/2022 03/31/2026 1,800,000 1,753,523 1,794,076 2.99%53,820 U.S. Treasury Notes 09/08/2022 04/30/2026 1,600,000 1,542,500 1,594,019 3.42%54,720 U.S. Treasury Notes 11/22/2024 07/31/2026 1,750,000 1,749,180 1,758,162 4.40%77,000 U.S. Treasury Notes 06/07/2023 09/30/2026 2,000,000 1,848,984 1,971,600 4.09%81,800 U.S. Treasury Notes 02/20/2025 10/15/2026 1,750,000 1,759,912 1,764,100 4.26%74,550 U.S. Treasury Notes 11/28/2022 03/31/2027 1,450,000 1,363,566 1,432,045 4.00%58,000 U.S. Treasury Notes 05/17/2024 04/15/2027 2,000,000 1,995,469 2,024,610 4.58%91,600 U.S. Treasury Notes 05/13/2025 05/15/2027 2,000,000 1,937,734 1,969,844 4.01%80,200 U.S. Treasury Notes 10/05/2022 06/30/2027 1,500,000 1,451,309 1,494,845 4.00%60,000 U.S. Treasury Notes 06/21/2024 07/31/2027 2,000,000 1,901,875 1,977,422 4.46%89,200 U.S. Treasury Notes 01/20/2023 08/31/2027 1,600,000 1,568,438 1,590,813 3.59%57,440 U.S. Treasury Notes 03/08/2023 09/30/2027 1,250,000 1,234,131 1,263,379 4.44%55,500 U.S. Treasury Notes 10/17/2024 01/31/2028 1,300,000 1,284,105 1,300,254 3.90%50,700 U.S. Treasury Notes 09/27/2024 02/15/2028 1,500,000 1,464,141 1,477,383 3.51%52,650 U.S. Treasury Notes 11/08/2024 03/31/2028 1,000,000 982,344 1,002,656 4.19%41,900 U.S. Treasury Notes 12/30/2024 05/31/2028 1,750,000 1,711,445 1,754,579 4.33%75,775 U.S. Treasury Notes 12/13/2024 08/31/2028 1,000,000 1,004,102 1,021,133 4.25%42,500 U.S. Treasury Notes 09/29/2025 09/15/2028 2,000,000 1,985,469 1,991,796 3.64%72,800 December 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 December 31, 2025 U.S. Treasury Notes 11/10/2025 10/15/2028 2,000,000 1,995,469 1,997,968 3.58%71,600 U.S. Treasury Notes 09/16/2025 10/31/2028 2,000,000 1,875,547 1,884,218 3.50%70,000 U.S. Treasury Notes 04/10/2024 11/15/2028 1,800,000 1,687,078 1,779,890 4.66%83,880 U.S. Treasury Notes 10/27/2025 04/30/2029 2,000,000 1,955,234 1,955,782 3.56%71,200 U.S. Treasury Notes 09/05/2024 05/31/2029 1,200,000 1,155,984 1,167,843 3.60%43,200 U.S. Treasury Notes 10/29/2024 07/31/2029 1,500,000 1,493,320 1,519,395 4.10%61,500 U.S. Treasury Notes 03/05/2025 08/31/2029 2,000,000 1,923,750 1,966,250 4.06%81,200 U.S. Treasury Notes 06/03/2025 11/30/2029 2,000,000 1,989,141 2,016,718 4.01%80,200 U.S. Treasury Notes 07/30/2025 12/31/2029 2,000,000 1,996,875 2,016,954 3.91%78,200 U.S. Treasury Notes 12/09/2025 04/30/2030 2,000,000 1,979,531 1,985,546 3.75%75,000 Subtotal 47,750,000$ 46,590,156$ 47,473,280$ 3.95%1,886,135$ Cash Equivalents Wells Fargo Trsry Plus M Mkt - reserve fund (2001 COP)508,864 508,864 508,864 3.26%16,589 Wells Fargo Trsry Plus M Mkt - reserve fund (2005 COP)359,695 359,695 359,695 3.28%11,798 Bank of New York 1,836,510 1,836,510 1,836,510 3.28%60,238 US Bank 922,928 922,928 922,928 0.00%0 LAIF 13,442,719 13,442,719 13,442,719 4.03%541,069 Subtotal 17,070,716$ 17,070,716$ 17,070,716$ 3.68%629,694 Asset-Backed Securities GM Finacial Automobile Leasing Trust 2025-1 A3 02/05/2025 02/21/2028 405,000 404,952 408,317 4.66%18,873 BMW Vehicle Owner Trust 2023-A A3 07/11/2023 02/25/2028 74,275 74,262 74,723 5.47%4,063 BMW Vehicle Lease Trust 2025-1 A3 06/03/2025 06/26/2028 250,000 249,995 252,161 4.82%12,050 Toyota Auto Receivables Owner 2023-D A3 11/07/2023 08/15/2028 210,678 210,655 212,998 5.61%11,819 Chase Issuance Trust 2023-1 A 09/07/2023 09/15/2028 995,000 994,724 1,004,364 5.23%52,039 BMW Vehicle Owner Trust 2024-A A3 06/04/2024 02/26/2029 413,958 413,895 417,736 5.18%21,443 Bank of America Credit Card Trust 2024-1 A 06/06/2024 05/15/2029 475,000 474,973 482,441 4.93%23,418 John Deere Owner Trust 2025 A3 03/04/2025 09/17/2029 470,000 469,971 473,506 5.09%23,923 BMW Vehicle Owner Trust 2025-A A3 02/04/2025 09/25/2029 635,000 634,937 641,386 4.56%28,956 Honda Auto Receivables 2025-2 Owner Trust 04/29/2025 10/15/2029 310,000 309,965 311,896 4.15%12,865 Mercedes-Benz Auto Receivables Trust 2025-1 01/14/2025 12/17/2029 560,000 559,881 568,105 4.84%27,104 Subtotal 4,798,911$ 4,798,210$ 4,847,633$ 4.92%236,552$ 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 December 31, 2025 Supranational International Finance Corp Note 11/29/2023 01/15/2027 925,000 921,985 931,557 4.49%41,533 Inter-American Dev Bank Note 01/30/2024 02/01/2027 1,000,000 1,004,020 1,007,573 4.23%42,300 International Bank For Reconstruction and Dev 03/11/2024 07/12/2028 1,500,000 1,456,965 1,496,753 4.23%63,450 Subtotal 3,425,000$ 3,382,970$ 3,435,883$ 4.30%147,283$ US Corporate Apple Inc Callable Note Cont 02/01/2023 02/23/2026 750,000 728,265 749,243 4.27%32,025 Toyota Motor Credit Corp 02/08/2024 06/18/2026 1,000,000 921,800 987,859 4.68%46,800 Paccar Financial Corp Note 08/03/2023 08/10/2026 515,000 514,743 518,569 5.07%26,111 Bank of America NA Callable Note Cont 08/24/2023 08/18/2026 1,000,000 1,001,360 1,009,079 5.48%54,800 Morgan Stanley Bank NA Callable Note 10/30/2023 10/30/2026 440,000 440,000 446,595 5.88%25,872 Honeywell Intl Callable Note 01/11/2023 11/01/2026 1,000,000 933,280 989,204 4.42%44,200 Pepsico Inc. Callable Note Cont 11/08/2023 11/10/2026 360,000 359,903 363,763 5.13%18,468 JP Morgan Chase Bank Callable Note 12/05/2023 12/08/2026 405,000 405,000 409,369 5.11%20,696 John Deere Capital Corp 01/10/2024 01/08/2027 1,000,000 999,220 1,007,569 4.53%45,300 Cisco Systems Inc 02/26/2024 02/26/2027 1,000,000 999,620 1,011,211 4.81%48,100 State Street Corp 03/13/2024 03/18/2027 1,065,000 1,065,000 1,079,260 4.99%53,144 Caterpillar Financial Service Note 05/15/2024 05/14/2027 1,000,000 1,002,930 1,016,583 4.89%48,900 Blackrock Funding Inc 07/17/2024 07/26/2027 690,000 689,979 699,077 4.60%31,740 Amazon.com Inc 07/10/2024 08/22/2027 1,000,000 954,920 991,874 4.73%47,300 Visa Inc 08/19/2024 09/15/2027 1,000,000 960,360 987,891 4.14%41,400 Paccar Financial Corp Note 08/04/2025 08/08/2028 540,000 539,681 543,301 4.02%21,708 Alphabet Inc. 11/03/2025 11/15/2028 395,000 394,660 396,927 3.91%15,445 Pepsico INC. 07/29/2025 01/15/2029 1,000,000 997,580 1,005,480 4.18%41,800 Bank of New York Mellon Corp 02/12/2025 02/01/2029 1,250,000 1,240,750 1,265,179 4.81%60,125 MERCK & CO INC 12/01/2025 03/15/2029 675,000 674,001 674,776 3.90%26,325 Apple Inc.03/05/2025 09/11/2029 500,000 457,525 471,618 4.29%21,450 Subtotal 16,585,000$ 16,280,577$ 16,624,427$ 4.65%771,707$ TOTAL 116,705,688$ 114,816,386$ 116,633,038$ 4.15%4,841,970$ Source: Chandler Asset Management US Bank Local Agency Investment Fund (LAIF) Page 6 Town of Danville Treasurer's Report of Investments - Detail December 31, 2025 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF 1,929,031 1,929,031 1,929,031 4.03%77,644 TOTAL 1,929,031$ 1,929,031$ 1,929,031$ 4.03% $77,644 Source: Local Agency Investment Fund (LAIF) Trust Fund Page 7 Town of Danville Treasurer's Report of Investments - Detail December 31, 2025 Yield to Annual Description Purchase Date Maturity Date Par Value Cost Market Value Maturity Interest Cash Equivalents LAIF - redemption fund 82,777 82,777 82,777 4.03%3,332 Wells Fargo Trsry Plus M Mkt - reserve fund (TRBs)379,901 379,901 379,901 3.12%11,853 Wells Fargo Trsry Plus M Mkt - interest acct (TRBs)474 474 474 3.29%16 Wells Fargo Trsry Plus M Mkt - debt service acct (TRBs)13,242 13,242 13,242 3.28%434 Subtotal 476,394$ 476,394$ 476,394$ 3.28%15,635$ TOTAL 476,394$ 476,394$ 476,394$ 3.28%15,635$ 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 3/27/2025 3/31/2026 225,000 217,582 223,518 4.12%9,270 U.S. Treasury Bill 6/11/2025 6/15/2026 250,000 249,970 250,695 4.14%10,350 U.S. Treasury Bill 9/16/2025 9/30/2026 250,000 249,473 249,817 3.71%9,275 U.S. Treasury Bill 2/18/2025 11/15/2026 250,000 246,592 246,697 3.54%8,850 Subtotal 975,000$ 963,617$ 970,727$ 3.87%37,745$ Cash Equivalents LAIF - improvement fund 52,202 52,202 52,202 4.03%2,101 Bank of New York-Improvement fd 32,153 32,153 32,153 3.28%1,055 Subtotal 84,355$ 84,355$ 84,355$ 3.74%3,156$ Total 1,059,355$ 1,047,972$ 1,055,082$ 3.86%40,901$ Source: Chandler Asset Management BNY Trust Company Local Agency Investment Fund (LAIF) Northeast Roadway Improvement Assessment District (NERIAD) December 31, 2025 Page 9