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CITY OF LA PORTE <br />Interoffice Memorandum <br />TO:Chuck Engelken, Councilmember <br />Daryl Leonard, Councilmember <br />Jay Martin, Councilmember <br />Dottie Kaminski, Councilmember <br />Corby Alexander, City Manager <br />Jason Weeks, Assistant City Manager <br />FROM:Michael Dolby, Director of Finance <br />Shelley Wolny,Treasurer <br />DATE:January15,2018 <br />SUBJECT:Quarterly Investment Report <br />For the firstquarterof the 2018fiscal year, the City’s investment portfolio yield averaged1.28%, which is <br />belowthe average yield of our benchmarkat 1.38% (see graph below).Since the City’s practice is to hold <br />investments until maturity, many of the agencies in the portfolio are yielding lower than the benchmark of <br />the 6-month T-Billrate. As securities mature,staff will reinvest at higher rates. The total interest earned <br />through December2018for all fundsis$255,101,whichis 48% of the budget of $536,150. <br />City vs. Benchmark <br />1.60% <br />1.40% <br />1.20% <br />1.00% <br />0.80% <br />0.60% <br />0.40% <br />` <br />0.20% <br />0.00% <br />Portfolio YieldBenchmark <br />st <br />At December31,the City’s portfoliototaled $78,595,415and consisted of 26%in Texpool,46% in <br />Agency Notes and 28% in Logic.Half of the portfolio remains in theinvestment pools to maintain adequate <br />liquiditywhile pursuing opportunities for to optimize yield.Staff will continue to focus on laddering and <br />diversifying the portfolio through the purchase of agenciesto strengthen returns. <br />1 <br /> <br />