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CITY OF LA PORTE <br />Interoffice Memorandum <br />TO: Chuck Engelken, 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: April 30, 2018 <br />SUBJECT:Quarterly Investment Report <br />For the second quarter of the 2018fiscal year, the City’s investment portfolio yield averaged 1.48%, which <br />is below the average yield of our benchmarkat 1.59% (see graph below). Since the City’s practice is to <br />hold investments until maturity, many of the agencies in the portfolio are yielding lower than the benchmark <br />of the 6-month T-Billrate. As securities mature, staff will reinvest at higher rates. The total interestearned <br />through March 2018 for all fundsis $549,935,whichis 103% of the budget of $536,150. <br />City vs. Benchmark <br />2.00% <br />1.80% <br />1.60% <br />1.40% <br />1.20% <br />1.00% <br />0.80% <br />0.60% <br />` <br />0.40% <br />0.20% <br />0.00% <br />Portfolio YieldBenchmark <br />st <br />AtMarch 31,the City’s portfoliototaled $95,446,588andconsisted of 25%in Texpool, 42% in Agency <br />Notesand 33% in Logic. of theportfolio remains in the investmentpools to maintain <br />adequateliquiditywhile pursuing opportunities for to optimize yield. Staffwill continue to focus on <br />laddering and diversifying the portfolio through the purchase of agencies to strengthen returns. <br />1 <br /> <br />