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<br />CITY OF LA PORTE <br />Interoffice Memorandum <br /> <br />TO: <br /> <br />Howard Ebow, Councilmember <br />Chuck Engelken, Councilmember <br />Tommy Moser, Councilmember <br />Louis Rigby, Councilmember <br />Ron Bottoms, City Manager <br />John Joerns, Assistant City Manager <br /> <br />FROM: <br /> <br />Michael Dolby, Director of Finance ~ <br />Phyllis Rinehart, Controller C/ <br /> <br />DATE: <br /> <br />October 13, 2008 <br /> <br />SUBJECT: <br /> <br />Quarterly Investment Report <br /> <br />For the fourth quarter of the 2008 fiscal year, the City's investment portfolio yield has been between 2.41% <br />and 2.56%. The average return on the portfolio for the fourth quarter of the fiscal year was 2.47%, which is <br />above the average yield of our benchmark, which was 1.96% (see graph below). Our benchmark is the 6- <br />month T -Bill rate. The current year to date interest earned for the 2008 fiscal year for all funds is $2.2M <br />which is approximately 115% of the $1.9 M budgeted for the year. <br /> <br />City \S. Benchmark <br />6.00% <br />5.00% ~ - <br /> <br />if~l~ ~.. ~ <br />~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ <br />0<1 ~~' <? ....~ ~~ ~~ ~~ ~~ .....;:,,~ ....~ ~$ '?~ <br /> <br />- Portfolio Yield - Benchmark <br /> <br />At September 30th, the City's portfolio consisted of 16% in Agency Notes, 82% in Texpool, 1% in TexSTAR <br />and 1% in Logic (see pie chart below). <br /> <br />By Investment Type <br /> <br />16% <br /> <br /> <br />82% <br />,_ Texpoo1 . TexST AR 0 Logic 0 Agency Notesl <br /> <br />1 <br />