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CITY OF LA PORTE <br />Interoffice Memorandum <br /> <br />TO: Chuck Engelken, Councilmember <br /> Jay Martin, Councilmember <br />Thomas Garza, Councilmember <br />Corby Alexander, City Manager <br />Jason Weeks, Assistant City Manager <br /> <br />FROM: Michael Dolby, Director of Finance <br /> Shelley Wolny, Treasurer <br /> <br />DATE: August 28, 2020 <br /> <br />SUBJECT: Quarterly Investment Report <br /> <br />For the third quarter of the 2020 fiscal year, the City’s investment portfolio yield averaged 0.53%, which is above <br />the average yield of our benchmark at 0.17 % (see graph below). The average 36 basis points over the benchmark <br />for the fiscal year equates to $296,999 of additional earnings for the portfolio. The total interest earned through <br />June 2020 for all funds is $1,312,723, which is 128% of the budget of $1,029,500. <br /> <br />City vs. Benchmark <br />2.50% <br />2.00% <br />1.50% <br />1.00% <br />` <br />0.50% <br />0.00% <br />Portfolio YieldBenchmark <br /> <br />th <br />At June 30, the City’s portfolio totaled $128,351,954 and consisted of 34% in Texpool, 5% in Agency Notes, 23% <br />in Texas Class, 38% in TexSTAR and less than 1% in Logic. The majority of the investment portfolio remains <br />invested in the pools. Given the current rate environment, the majority of the City’s agency bonds have been <br />called. Although there is not much to gain between agencies and pools, a share of these funds will be reinvested <br />in agency notes as new issues become available to continue to diversify the portfolio and begin rebuilding the <br />investment ladder. <br /> <br />At the end of the third quarter, the City’s portfolio consisted of 95% of the portfolio maturing overnight, 3% <br />maturing in 1-2 years and 2% maturing in 2-3 years. <br /> <br /> 1 <br /> <br />