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CITY OF LA PORTE <br />Interoffice Memorandum <br />TO: Chuck Engelken, Councilmember <br />Tommy Moser, Councilmember <br />Daryl Leonard, Councilmember <br />John Zemanek, Councilmember <br />Jay Martin, Councilmember <br />Corby Alexander, City Manager <br />Traci Leach, Assistant City Manager <br />FROM: Michael Dolby, Director of Finance <br />Shelley Wolny, Treasurer <br />DATE: January 16, 2013 <br />SUBJECT: Quarterly Investment Report <br />For the first quarter of the 2013 fiscal year, the City's investment portfolio yield averaged 0.24%, which is <br />above the average yield of our benchmark at 0.14% (see graph below). Our benchmark is the 6-month T-Bill <br />rate. Rates remain at record lows, and are not projected to increase for quite a while. The total interest <br />earned for the 2013 fiscal year for all funds is $39,354 which is approximately 33% of the $118,850 <br />budgeted for the year. <br />City vs. Benchmark <br />Portfolio Yield Benchmark <br />At December 31s`, the City's portfolio consisted of 46% in Texpool, 21% in Agency Notes and 33% in Logic <br />(see pie chart below). <br />