FY26 2nd Quarter Treasurer Report

1-30-2026
To: — Robert J. Brule ~ First Selectman
Kim Allen - Director of Finance
Glenn Patterson & Board of Finance Members
Susan Driscoll & RTM Members
Thomas W. Giard III - Superintendent of Schools
Joseph Mancini — Director of Finance & Operations ~ BOE
Deb Roselli Kelly & Board of Education Members
From: Abbas Danesh - Treasurer
Subject: Quarterly Treasurer's Report and Related Financials ending 12/31/2025.
The following attachments are included for reference:
Attachment 1 - 12/31/2025 Cash Positions — Town of Waterford
Attachment 2 ~ CDs & Bonds Summary ~ Town of Waterford
attachment 2 Oct - Dec & attachment 2 combined
Attachment 3 — Graph of Total Interest Income vs. Fiscal Years
Attachment 4 — Interest Income by Funds ys. Fiscal Years
Attachment 5 - FY 2026 Estimated General Fund Cash Flow
Attachment 6 ~ Bond Debt Service
Happy New Year.
Customary to my New Year opening, | am delighted to acknowledge that Ginny, Christy, Emesta,
Shea and Becky are a tremendous help. Borrowing a line from Mr. Warren Buffett, I get to “tap dance to
work”, making it a pleasure to come to work. Also my thanks to Kim, our Finance Director, for a well-run
finance department.
Going over our three baskets/institutions:
STIF interest rates
Averages for Oct 4.23%, Nov 4.05%, Dec 3.87%
M&T’s Savings interest is at 1.25%.
Fidelity account activities:
Oct: 245K Mizrahi CD, 245K Associated CD, 81K Keamey CD, 17K Northpoint CD, 49K
Charles Schwab CD and one mil treasury matured. 16K Citizens bank CD called. Purchased 160K
Kearny bank CD maturing 1/2026, 170K Goldman CD maturing 10/2030, 126K Goldman CD
maturing 10/2030, 330K Agency maturing 10/2030 and one mil treasury maturing 6/2026.
Nov: 10K Citibank CD, 47K Associated CD and one mil treasury matured. Purchased 51K
Goldman CD maturing | 1/2030, 246K Toyota FINL CD maturing 11/2027, 200K Agency maturing
11/2032, 600K treasury maturing 3/2026 and 68K treasury maturing 8/2030.
Dec: 1.75 mil treasury and 240K Bank of China CD matured. 15K Agency called. Purchased
59K Ally bank CD maturing 12/2028, 200K Bank of America CD maturing 9/2026, 100K Agency
maturing 12/2032, 200K Wells Fargo CD maturing 9/2026, 208K Texas Heritage bank CD maturing
12/2030, 240K Bank of China CD maturing 3/2026, 127K treasury maturing 11/2035.

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, I underperformed our benchmark
in Oct, Nov and Dec by (-.62%, -.46% and -.31%, respectively). Our Weighted Average Yield
(WAY) is 3.60% in Dec of 2025.
Attachments 3 & 4 show our interest income with comparable amounts from previous years.
FY 2026 2" quarter of $1,738,822 vs FY 2025 2TM quarter of $2,289,449. Two reasons for the
reduced interest;
1, Nearly 10 million less in over all funds, please see bottom of the page on attachment |
2. Interest rates are down by approximate one percentage point since last fiscal year.
~as of this writing- 45% chance of another quarter percentage point reduction by the FED 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 which includes 3.6 million for Radio
System.
:Quick note on Hammond Memorial: upon approval of Hammond Memorial Maintenance
Fund Committee on 11/18/2025, I transferred investments from Dodge & Cox to Fidelity Brokerage
which gives more investment options to manage assets.
It is an honor and a pleasure to be in my position as treasurer; 1 welcome any questions or
suggestions.
Sincerely Yours,
va
~ Abbas Danesh - Treasurer
my next quarterly report will be in April 2026.

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[Attachment 6
BOND DEBT SERVICE
Outstanding Debt Service Post 2020 Taxable Refund
‘Town of Waterford, Connecticut
Fiscal Year Principal Interest _—_Debt Service
2026 $610,286
2027 $6,694,393 $1,228,602
2028 $5,856,467 $962,478
2029 $6,094,027 $753,304
2030 $5,712,094 $590,245
2031 $5,690,688 $438,019
2032 $3,999,830 $319,539
2033 $3,949,543 $231,807
2034 $1,979,848 $163,945
2035 $1,090,771 $125,598
2036 $1,107,336 $95,433
2037 $680,000 $64,600
2038 $680,000 $50,575
2039 $680,000 $36,125
2040 $680,000 $21,675
2041 $680,000 $7,225
$610,286
$7,922,995
$6,818,945
$6,847,331)
$6,302,339
$6,128,707
$4,319,369
$4,181,350]
$2,143,793}
$1,216,369}
$1,202,769
$744,600
$730,575
$716,125
$701,675,
$687,225)
$45,574,997 _ $5,699,456 __ $51,274,453]