News

Danville council to hear report on town investment portfolio

Breast Cancer Awareness Month proclamation, legislative update also on agenda

The Danville Town Council is set to discuss town finances, as a major order of business, in its next regular meeting this Tuesday.

Town of Danville logo.

A quarterly investment report from staff at Chandler Asset Management, details the overall economic situation in the United States at this stage of the pandemic, and goes on to look at the performance of the town's portfolio in this context.

Although staff point to factors such as supply chain difficulties and labor shortages, they expect these issues to be short-term and phase out in the long run.

"Overall, we believe the U.S. economy continues to grow at a strong, above-trend, pace but we believe economic data will remain somewhat choppy over the near-term," Chandler staff said in the report.

The current economic situation in the United States remains tumultuous in numerous regards, such as unemployment and consumer confidence, but staff note that the present situation is still better across the board than it was early in the pandemic. While the surge of the COVID-19 delta variant has led to a hit on positive economic markers that surged earlier in the year, these blows are still not as significant as those fueled by the start of the pandemic.

What's local journalism worth to you?

Support DanvilleSanRamon.com for as little as $5/month.

Join

"The primary investment objectives of the Town of Danville are to preserve principal and to maintain adequate liquidity to meet the Town's cash flow requirements," staff said in the report. "The Town expects to achieve a rate of return which is consistent with its primary objectives."

Chandler staff's strategy for the funds they manage, according to the report, is to invest "in securities permitted under California Government Code Section 53600 et seq. and under its Investment Policy. The maximum maturity of the Town's investments is five years, unless specifically authorized by the Town Council."

The code referenced details how local government agencies may invest and manage the local agency investment fund (LAIF) as "trustees" of that money, intended to act in the best interest of their localities.

The total amount of LAIF money managed by the town is $16,265,150, according to a supplement to the investment report. An additional $75,270 is managed by Chandler, for a total of $16,340,420.

The council will meet to hear the report, and any public comments, at 5 p.m. over Zoom on Tuesday (Oct. 19). The meeting agenda is available here.

In other business

* The council is set to officially recognize October as Breast Cancer Awareness Month, in a proclamation to Kelly Garcia, senior development manager at the American Cancer Society.

* The council is set to hear a legislative update from Diane Friedmann, deputy town manager.

Stay informed

Get daily headlines sent straight to your inbox in our Express newsletter.

Stay informed

Get daily headlines sent straight to your inbox in our Express newsletter.

Follow DanvilleSanRamon.com on Twitter @DanvilleSanRamo, Facebook and on Instagram @ for breaking news, local events, photos, videos and more.

Your support is vital to us continuing to bring you city government news. Become a member today.

Danville council to hear report on town investment portfolio

Breast Cancer Awareness Month proclamation, legislative update also on agenda

by / Danville San Ramon

Uploaded: Mon, Oct 18, 2021, 9:59 pm

The Danville Town Council is set to discuss town finances, as a major order of business, in its next regular meeting this Tuesday.

A quarterly investment report from staff at Chandler Asset Management, details the overall economic situation in the United States at this stage of the pandemic, and goes on to look at the performance of the town's portfolio in this context.

Although staff point to factors such as supply chain difficulties and labor shortages, they expect these issues to be short-term and phase out in the long run.

"Overall, we believe the U.S. economy continues to grow at a strong, above-trend, pace but we believe economic data will remain somewhat choppy over the near-term," Chandler staff said in the report.

The current economic situation in the United States remains tumultuous in numerous regards, such as unemployment and consumer confidence, but staff note that the present situation is still better across the board than it was early in the pandemic. While the surge of the COVID-19 delta variant has led to a hit on positive economic markers that surged earlier in the year, these blows are still not as significant as those fueled by the start of the pandemic.

"The primary investment objectives of the Town of Danville are to preserve principal and to maintain adequate liquidity to meet the Town's cash flow requirements," staff said in the report. "The Town expects to achieve a rate of return which is consistent with its primary objectives."

Chandler staff's strategy for the funds they manage, according to the report, is to invest "in securities permitted under California Government Code Section 53600 et seq. and under its Investment Policy. The maximum maturity of the Town's investments is five years, unless specifically authorized by the Town Council."

The code referenced details how local government agencies may invest and manage the local agency investment fund (LAIF) as "trustees" of that money, intended to act in the best interest of their localities.

The total amount of LAIF money managed by the town is $16,265,150, according to a supplement to the investment report. An additional $75,270 is managed by Chandler, for a total of $16,340,420.

The council will meet to hear the report, and any public comments, at 5 p.m. over Zoom on Tuesday (Oct. 19). The meeting agenda is available here.

In other business

* The council is set to officially recognize October as Breast Cancer Awareness Month, in a proclamation to Kelly Garcia, senior development manager at the American Cancer Society.

* The council is set to hear a legislative update from Diane Friedmann, deputy town manager.

Comments

There are no comments yet. Please share yours below.

Post a comment

In order to encourage respectful and thoughtful discussion, commenting on stories is available to those who are registered users. If you are already a registered user and the commenting form is not below, you need to log in. If you are not registered, you can do so here.

Please make sure your comments are truthful, on-topic and do not disrespect another poster. Don't be snarky or belittling. All postings are subject to our TERMS OF USE, and may be deleted if deemed inappropriate by our staff.

See our announcement about requiring registration for commenting.