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CITY OF LA PORTE <br />Interoffice Memorandum <br />TO <br />: 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 <br />: Michael Dolby, Director of Finance <br /> Shelley Wolny, Treasurer <br />DATE <br />: April 26, 2013 <br />SUBJECT <br />:Quarterly Investment Report <br />For the second quarterof the 2013fiscal year, the City’s investment portfolio yield averaged 0.18%, which is <br />above the average yield of our benchmarkat 0.11% (see graph below).Our benchmark is the 6-month T-Bill <br />rate. Rates remain at record lows,and are not projected to increase until late 2014, possibly even 2015. The <br />total interest earned for the 2013fiscal yearfor all fundsis $56,519which is approximately 48% of the <br />$118,850budgeted for the year. <br />st <br />At March 31,the City’s portfolio consisted of 53%in Texpool, 22% in Agency Notes and 25% in Logic. <br />Very little 2-year paper is being issued, so the majority of the portfolio remains in the investments pools. <br />The mostcurrent overnight rate was set onDecember 16, 2008at 0.00% to 0.25%.At the end of thesecond <br />quarter, the City’s portfolio consisted of 78% of the portfolio maturing overnight, 4% of the City’s portfolio <br />matures in 1-12 months, 11% maturing in 12-24 months and 7% maturing beyond two years. <br />1 <br /> <br />