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<br />CITY OF LA PORTE <br />Interoffice Memorandum <br /> <br />FROM: <br /> <br />Barry Beasley, Councilman <br />Howard Ebow, Councilman <br />Chuck Engelken, Councilman <br />Tommy Moser, Councilman <br />Louis Rigby, Councilman <br />John Joerns, Interim City Manager <br /> <br />Michael Dolby, Interim Finance Directoc9 <br />Phyllis Rinehart, Controller <br /> <br />TO: <br /> <br />DATE: <br />SUBJECT: <br /> <br />Apri13,2007 <br />Quarterly Investment Report <br /> <br />For the second quarter of the 2007 fiscal year, the City's investment portfolio yield has been between 5.13% <br />and 5.15%. The average return on the portfolio for the first quarter of the fiscal year was 5.14%, which is <br />above the average yield of our benchmark, which was 5.13% (see graph below). Our benchmark is the 6- <br />month T-Bill rate. The current year to date interest earned for the 2007 fiscal year is $1,233,577 which is <br />approximately $380,000 more than projected at this time. <br /> <br />City vs. Benchmark <br /> <br />6.00% <br /> <br />500% f => <br />4.00% <br />3.00% - <br />2.00% <br />1.00% , <br /> <br />l <br /> <br />~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ <br />"(-.f ~~ \-:><$ \~ "(-~ ~q,,~ 0(:/ ~&-' <yq"t;.; \'b-<::' 4.~ ~'b-<: <br /> <br />- Portfolio Yield - Benchmark <br /> <br />At March 31st the City's portfolio consisted of 33% in Agency Notes, 45% in Texpoo1, 17% in TexSTAR <br />and 5% in Logic (see pie chart below). <br /> <br />By Investment Type <br /> <br /> <br />45% <br /> <br />17% <br />I_ Texpool - TexSTAR 0 Logic 0 Agency Notes 1 <br /> <br />The overnight rate set by the Fed continues to remain stable. The most current overnight rate was set on <br />June 29, 2006 at 5.25%. With that said, our main focus is to continue to ladder the portfolio. <br />