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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:, 2018 <br />SUBJECT:QuarterlyInvestmentReport <br />For the third quarter of the 2018 fiscal year, the City’s investment portfolio yield averaged 1.76%, which <br />is below the average yield of our benchmarkat 2.05% (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 June 2018 for all funds is $986,149, whichis 184% of the budget of $536,150. <br />Cityvs. Benchmark <br />2.50% <br />2.00% <br />1.50% <br />1.00% <br />` <br />0.50% <br />0.00% <br />Portfolio YieldBenchmark <br />th <br />AtJune 30,the City’s portfoliototaled $95,652,505 and consisted of 28%in Texpool, 42% in Agency <br />Notes,and 28% in Logicand 2% in Texas CLASS.Half of the portfolio remains in theinvestment pools <br />to maintain adequate liquiditywhile pursuing opportunities for to optimize yield. Staff will continue to <br />focus on laddering and diversifying the portfolio through the purchase of agenciesto strengthen returns. <br />During the third quarter, three new agencies were purchased with yields ranging from 2.25% to 2.53%. <br />By Investment Type <br />2% <br />28% <br />42% <br />28% <br />TexpoolLogicTexas CLASSAgency Notes <br />1 <br /> <br />