Quarterly Tresurers Report end 9 30 24

10-24-2024
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 9/30/2024,
The following attachments are included for reference:
Attachment I — 9/30/2024 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 2025 Estimated General Fund Cash Flow
Attachment 6 — Bond Debt Service
Going over our three baskets/institutions:
Averages for STIF interest rates
July 5.43%, Aug 5.41%, Sep 5.26%
People’s Savings interest is at 3.25%.
Fidelity account activities:
July: 1.6 Mil treasury matured. 434K Agency Bonds & 40K JPM CD were called. Purchased
600K treasury maturing 9/2024, one Mil treasury maturing 6/2025, 74K Flushing Bank CD maturing
10/2024, 12K UBS CD maturing 7/2029, 400K Agency Bonds maturing 12/2027, 50K Agency
Bonds maturing 7/2029, 2K UBS CD maturing 7/2029 and 75K Agency Bonds maturing 8/2026.
Aug: 13K American Express Bank CD & SK Sallie Mae Bank CD matured. 115K Bank of
America CD and 339K Agency Bonds were called. Purchased 16K Citizens Bank CD maturing
8/2029, 100K Agency Bonds maturing 8/2034, 70K Agency Bonds maturing 2/2035, 100K Agency
Bonds maturing 2/2035, 210K Agency Bonds maturing 8/2034 and one Mil Treasury maturing
7/2025.
Sep: 1.6 Mil treasury & 245K Flagstar Bank CD matured. 145K Agency Bonds were called.
Purchased 65K Agency Bonds maturing 9/2032, one Mil treasury maturing 12/2025, 78K Hapoalim
Bank CD maturing 9/2029, 245K Agency Bonds maturing 9/2029.
Please see Attachment | cash positions as of 9/30/2024. 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, I underperformed our benchmark
in July, Aug, and Sep by (-1.33%, -1.37% and -1.26%, respectively). Our Weighted Average Yield
(WAY) has been steadily increasing, from an average of 0.65% in FY2021 to 4% in Sep of 2024,
Attachments 3 & 4 show our interest income with comparable amounts from previous years.
FY 2025 first quarter of $1,198,522 vs FY 2024 first quarter of $1,194,861...we achieved this
result despite having $4,885. Jess in cash positions. ..9/30/2023 $108,393,705 vs 9/30/2024
$103,508,037...1 backed out Hammond Memorial.
see
108,393,705
103,508,037
9/30/2023 $108,511,477 - $117,777
9/30/2024 $103,633,174 - $125,13
$108,393,705 - $103,508,037 = $4,885,668
«-please see Attachment 1, bottom of the page...quarterly cash positions-year over year.
sees
...the FED reduced half a percentage point in last meeting and ~as of this writing- 92%
chance of reducing another half percentage on 11/7/2024....and possible four more quarter percentage
point reductions till June 2025...we'll most likely won’t reach our FY2024 of $4,614,433. ..my best
guess for FY2025 from all funds is $3,990,000.
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,
Abbas Danesh ~ Treasurer
-smy next quarterly report will be in Jan 2025.

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[Attachment 6
BOND DEBT SERVICE |
lOutstanding Debt Service Post 2020 Taxable Refund
Town of Waterford, Connecticut
Fiscal Year Principal Interest _Debt Service
2025, $709,264 $709,264)
2026 $6,645,000 $1,319,500 $7,964,500}
2027, $6,395,000 $1,083,426 $7,478,426
2028, $5,545,000 $829,375 $6,374,375.
2029 $5,770,000 $632,762, $6,402,762
2030 $5,375,000 $482,770 ‘$5,857,770
2031 $5,340,000 $344,138 $5,684,138)
2032 $3,635,000 $239,800 $3,874,800)
2033, $3,570,000, $166,780 $3,736,780
2034, $1,585,000 $114,224 $1,699,224
2035 $680,000, $91,800 $771,800)
2036, $680,000 $78,200. $758,200]
2037 $680,000, $64,600 $744,600)
2038 $680,000, $50,575 $730,575
2039 $680,000 $36,125 $716,125:
2040 $680,000 $21,675. $701,675
2041, $680,000 $7,225, $687,225
$48,620,000 $6,272,237 $54,892,237