Quarterly Treasurer Report end 12.31.24

1-30-2025
To:
Robert J. Brule— First Selectman
Kim Allen ~ Director of Finance
Glenn Patterson & Board of Finance Members
Paul Goldstein & RTM Members
‘Thomas W. Giard I11- Superintendent of Schools
Joseph Mar Director of Finance & Operations~ BOE
Pat Fedor & Board of Education Members
From: Abbas Danesh ~ Treasurer
Subject: Quarterly Treasurer's Report and Related Financials ending 12/31/2024.
‘The following attachments are included for reference:
Attachment I~ 12/31/2024 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 vs. Fiscal Years
Attachment 5— FY 2025 Estimated General Fund Cash Flow
Attachment 6~ Bond Debt Service
Happy New Year.
Customary to my New Year opening, 1 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 5.00%, Nov 4.82%, Dec 4.66%
M&T’s Savings interest is at 3.25%.
Fidelity account activities:
Oct: 74K Flushing bank CD, 59K Wells Fargo CD matured. 400K Agency were called.
Purchased 600K Agency maturing 6/2028, 57K Amex CD maturing 10/2029, 75K Agency maturing
9/2034, | mil treasury maturing 8/2025 and 67K treasury maturing 6/2029.
Nov: 235K CD and 180K CD matured. 30K Agency were called. Purchased 400K treasury
maturing 10/2029, 30K Agency maturing 11/2031 and 702K treasury maturing 10/2029.
Dec: 2.8 mil treasury matured. Purchased one mil treasury maturing 9/2025, one mil treasury
maturing 10/2025, 61K treasury maturing 10/2029, 26K treasury maturing 5/2034 and 10K treasury
maturing 8/2034.

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 (-1.11%, -.96% and -.89%, respectively), Our Weighted Average Yield
(WAY) is 3.77% in Dec of 2024.
Attachments 3 & 4 show our interest income with comparable amounts from previous years.
FY 2025 2" quarter of $2,289,449 vs FY 2024 2"! quarter of $2,410,030....we achieved this result
with $9,756,821 less in cash positions... 12/31/2023 $92,122,521 vs 12/31/2024 $82,365,700...1
backed out Hammond Memorial.
12/31/2023 $92,233,825 - $111,304 = $92,122,521
12/31/2024 — $82,472,456 - $106,756 = $82,365,700
$92,122,521 - $82,365,700 = $9,756,821
. please see Attachment 1, bottom of the page...quarterly cash positions-year over year.
coed
Please see Attachment 5, our estimated General Fund cash flows for FY 2025.
Please see Attachment 6, our updated bond debt service.
Itis an honor and a pleasure to be in my position as treasurer; I welcome any questions or
suggestions,
Sincerely Yours,
anc 34
Abbas Danesh — Treasurer
-.my next quarterly report will be in April 2024.

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(COs & Bonds Summary - Town of Waterford, Oct 2024
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Total investmonts 5 s9nnner2 $ mast00%
Weighted Average Yield 3.09%
we som
Annualized ALPHA S73
Weighted Average Maturity in Years 20

(CDs & Bonds Summary - Town of Waterford, Nov 2024
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ASH ARG ACCRUES TEREST a
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Total investments $ anes § 1990000
Weighted Average Yield 2.86%
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Welshted Average Maturity In Years 27

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[Attachment 6
BOND DEBT SERVICE
|Outstanding Debt Service Post 2020 Taxable Refund
‘Town of Waterford, Connecticut
Fiscal Year Principal
2025
2026 $6,645,000
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
$48,620,000
Interest
$709,264
$1,319,500
$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
$6,272,237
Debt Service
$709,264)
$7,964,500)
$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)
$54,892,237