FY26 1st Quarter Treasurer report

10-31-2025
To: Robert J. Brule- First Selectman
Kim Allen - Director of Finance
Glenn Patterson & Board of Finance Members
Paul Goldstein & RTM Members
Thomas W. Giard III - Superintendent of Schools
Joseph Mancini — Director of Finance & Operations - BOE
Pat Fedor & Board of Education Members
From: Abbas Danesh - Treasurer
Subject: Quarterly Treasurer’s Report and Related Financials ending 9/30/2025.
‘The following attachments are included for reference:
Attachment I — 9/30/2025 Cash Positions & QTLY Cash Positions ~ Town of Waterford
Attachment 2 - CDs & Bonds Summary ~ Town of Waterford
attachment 2 July ~ Sep & attachment 2 combined
Attachment 3 - Graph of Total Interest Income vs. Fiscal Years
Attachment 4 — Interest Income by Funds vs. Fiscal Years
Attachment 5 — FY 2026 Estimated General Fund Cash Flow
Attachment 6 — Bond Debt Service
Going over our three baskets/institutions:
Averages for STIF interest rates
July 4.41%, Aug 4.40%, Sep 4.34%
People’s Savings interest is at 3.25%.
Fidelity account activities:
July: | mil treasury, 100K Goldman CD, 21K Tenn Valley agency bond matured. 145K
agency bond was called. Purchased | mil treasury maturing 5/2026, 240K. Safra bank CD maturing
6/2026, 245K Associated bank CD maturing 10/2025, 81K Keamy bank CD maturing 10/2025, 46K
agency band maturing 7/2031, 1 mil treasury maturing 1/2026 and 17K Northpoint bank CD
maturing 10/2025
Aug: | mil treasury, 10K Goldman CD and 245K Toyota bank CD matured. 30K agency bond
was called. Purchased I mil treasury maturing 11/2025, | mil treasury maturing 2/2026, 49K Charles
Schwab bank CD maturing 10/2025, 10K State bank India maturing 8/2030, 47K Associated bank
CD maturing 11/2025, 100K agency bond maturing 8/2032 and 52K treasury maturing 5/2035.
Sep: 2 mil treasury, 245K State bank India CD, 100K agency bond, 245K Merrick bank CD,
243K Hanover bank CD, 163K Umpqua bank CD matured. Purchased 220K State bank India
maturing 9/2027, 200K agency bond maturing 9/2040, 53K Bank of America CD maturing 6/2026, 2
miil treasury maturing 5/2026, 104K CA CU CD maturing 3/2027, 75K agency bond maturing
9/2035, 400K treasury maturing 8/2035, 10K State bank India maturing 9/2030.

Please see Attachment 1 cash positions as of 9/30/2025. Please note on bottom of the page,
the quarterly cash positions-year over year.
Please see Attachment 2 combined, the monthly running of WAM, WAY, and Annualized
ALPHA to get a more accurate picture of our portfolio.
As you observe our ALPHA, which measures performance, | underperformed our benchmark
in July, Aug, and Sep by (-.84%, -.81% and -.69%, respectively).
Attachments 3 & 4 show our interest income with comparable amounts from previous years.
FY 2026 first quarter of $946,604 vs FY 2025 first quarter of $1,198,522. Two reasons for the
reduced interest;
1. 10 million less in over all funds, please see bottom of the page on attachment 1
2. Interest rates are down by approximate one percentage point since last fiscal year.
~as of this writing- 63% chance of another quarter percentage point reduction by the FED on
12/10/2025...and possible one more quarter percentage point reductions by June 2026.
Please see Attachment 5, our estimated General Fund cash flows for FY 2026.
Please see Attachment 6, our updated bond debt service.
Itis an honor and a pleasure to be in my position as treasurer; | welcome any questions or
suggestions.
Sincerely Yours,
iz bach
Abbas Danesh ~ Treasurer
Y
---my next quarterly report will be in Jan 2026.

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[Attachment 6
BOND DEBT SERVICE
Outstanding Debt Service Post 2020 Taxable Refund
‘Town of Waterford, Connecticut
Fiscal Year Principal
2026
2027 $6,395,000
2028 $5,545,000
2029 $5,770,000
2030 $5,375,000
2031 $5,340,000
2032 $3,635,000
2033 $3,570,000
2034 $1,585,000
2035 $680,000
2036 $680,000
2037 $680,000
2038 $680,000
2039 $680,000
2040 $680,000
2041 $680,000
$41,975,000
Interest
$610,286
$1,083,426
$829,375
$632,762
$482,770
$344,138
$239,800
$166,780
$114,224
$91,800
$78,200
$64,600
$50,575
$36,125
$21,675
$7,225
$4,853,759
Debt Service
$610,286
$7,478,426
$6,374,375
$6,402,762,
$5,857,770}
$5,684,138
$3,874,800
$3,736,780
$1,699,224]
$771,800)
$758,200
$744,600
$730,575
$716,125
$701,675
$687,225
$46,828,759)