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CITY OF LA PORTE <br />Interoffice Memorandum <br />TO: Chuck Engelken, Councilmember <br />Tommy Moser, Councilmember <br />Daryl Leonard, Councilmember <br />John Zemanek, Councilmember <br />Jay Martin, Councilmember <br />Corby Alexander, City Manager <br />Traci Leach, Assistant City Manager <br />FROM: Michael Dolby, Director of Finance <br />Shelley Wolny, Treasurer <br />DATE: April 26, 2013 <br />SUBJECT: Quarterly Investment Report <br />For the second quarter of the 2013 fiscal year, the City's investment portfolio yield averaged 0.18%, which is <br />above the average yield of our benchmark at 0.11% (see graph below). Our benchmark is the 6-month T-Bill <br />rate. Rates remain at record lows, and are not projected to increase until late 2014, possibly even 2015. The <br />total interest earned for the 2013 fiscal year for all funds is $56,519 which is approximately 48% of the <br />$118,850 budgeted for the year. <br />City vs. Benchmark <br />At March 31s`, the City's portfolio consisted of 53% in Texpool, 22% in Agency Notes and 25% in Logic. <br />Very little 2-year paper is being issued, so the majority of the portfolio remains in the investments pools. <br />By Investment Type <br />®Texpool ®Logic ®Agency Notes <br />The most current overnight rate was set on December 16, 2008 at 0.00% to 0.25%. At the end of the second <br />quarter, the City's portfolio consisted of 78% of the portfolio maturing overnight, 4% of the City's portfolio <br />matures in 1-12 months, 11% maturing in 12-24 months and 7% maturing beyond two years. <br />