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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 />Jay Martin, Councilmember <br />Corby Alexander, City Manager <br />TraciLeach, Assistant City Manager <br />FROM <br />:Michael Dolby, Director of Finance <br />Shelley Wolny,Treasurer <br />DATE <br />:April16, 2014 <br />SUBJECT <br />:Quarterly Investment Report <br />For the secondquarterof the 2014fiscal year, the City’s investment portfolio yield averaged0.17%, which is <br />abovethe average yield of our benchmarkat 0.08% (see graph below).The City’s investment portfolio <br />exceeded the benchmark by an average of 9basis points for the year, which equates to approximately <br />$24,115in additional earnings for the year. Our benchmark is the6-month T-Billrate. The total interest <br />earned for the 2014fiscal yearfor all fundsis$67,967which isapproximately62% of the $109,572 <br />budgeted for the year. <br />City vs. Benchmark <br />0.30% <br />0.25% <br />0.20% <br />0.15% <br />0.10% <br />0.05% <br />` <br />0.00% <br />Portfolio YieldBenchmark <br />st <br />At March31,the City’s portfoliototaled $68,712,515and consisted of 35%in Texpool,26% in Agency <br />Notes and 39% in Logic.The majority of funds arein the pools due to the large influx of cash from <br />industrial contracts and property taxes; however, as investment opportunities arise, staff will continue to <br />focus on laddering and diversifying the portfolio through the purchase of agencies. <br />1 <br /> <br />